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RAILWAY AND INDUSTRIAL
SECTION
OF THE
(C o m m e r c i a l & f I n a n c i a l ( ] h r o n i c l e .
t e n u re d a ccord in g to A c t o f C on gress in th e y e a r 1 9 0 7 , b v W i l l i a m B . D a n a C o m p an t , in th e office o f L ib ra ria n o f i^ongress, W a s h in g to n . D.
Vol. 85.
R
NEW
ailw ay
and
I
Y O R K , O CTO B ER 26, 1907.
ndustrial
Section.
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No. 2209.
somebody was using the cars for storehouses they did
not accumulate a mileage credit, so that this measure
failed notoriously of accomplishing its aims. Thenja
per diem charge was.adopted; at first 20 cents per day,
but raised last year to 50 cents per day, with additional
penalties for detention of a foreign car after a specified
|number of days.
surplusage, but
This worked well in periods of car
as soon as the demand exceeded the
! supply the per diem rate and the penalty charge alike
failed to bring the cars home; while the penalty was
j especially easy to avoid by getting the cars off one line
and on another, .a practice which often resulted in
|sending them in the wrong direction.
The American Railway Association therefore author
ized its committee on car efficiency, under the very
able chairmanship of Mr. Arthur Hale, to look into
the matter and find out how cars moved, where they
went, how much they earned, how they were loaded,
FREIGHT-CAR M O V E M E N T .
It has been true for a great many years that car and how much of their time they spent in the shop.
shortage was likely to occur in this country, especially |The reports of this committee, which have now begun
in'the fall months when the crops were being moved; j to come in, constitute an exceedingly valuable docuand this car shortage has at times produced serious : ment on a subject about which information has always
been meagre and theories have exceeded facts. The
traffic congesting and many inequalities of movement,
roads originating the traffic losing equipment to roads
that constituted part of a through route to somewhere.
resolution of the Association, under which the collec
tion and publication of statistics was authorized, re
Traffic congestion is also caused, as notably in 1902
affirmed the principle that each railroad should be
on the Pennsylvania, by tonnage in excess of actual
assured at all times of the use of a number of cars
track and siding facilities, and this form of congestion, equivalent to the number the road owned, and it was
which has made trouble in greater or less degree in believed that full information to enable bases of com
each of the last six years, is a very serious matter, parison to be established was the first necessity.
In answer to a circular inquiry, returns were re
requiring as its remedy that new main line and passing
mileage be built, and that routings be so worked out
as to avoid points of especial traffic pressure. But
the conditions of what may be called track-and-yard-
ceived from railroads in the United States, Canada
and Mexico owning 1,840,005 revenue freight cars
and operating 201,775 miles of line.
For all this tre
shortage congestion have been primarily local and not
subject to general united action by railway associa
mendous group of carriers the average car movement
tions, while car-shortage congestion has been made
loaded and 2 9 % light.
the subject of this action for a number of years, with
varying degrees of success.
hauled one mile per car per day was 329, and the
There are two kinds of difficulties that come up for
consideration in an attempt to remedy car shortage—
lines amounted to $2 51.
was 24.2 miles per car per day; 7 1 % of the cars moved
The average number of tons
average earnings per day for every freight car on the
I t is a rather curious com
mentary on the American railroad situation that these
interior delays and exterior delays, or local and foreign
highly
delays,
brought out before, although each railroad manager
to describe them more technically.
Local
important
figures should
never have
been
delays to car movement, causing shortage, arise from j was of course able to ascertain them for his own line.
bad practice (or bad legislation) in car lading and in | Owing to the nature of the returns at hand, it is
detention in repair shops; foreign delays arise from the perhaps better to avoid naming individual roads,
fact that a connecting line, from any one of a number
and to deal with the results by geographical groups.
of causes, fails to return with promptness the cars of
other companies which are on its tracks. Mileage was
car earnings were reported by a group of roads operat
formerly charged for the use of loaned cars, but if
ing in five Northwestern States— Montana, Wyoming,
It is noteworthy, then, that much the highest daily
6
RAILWAY AND INDUSTRIAL SECTION
Nebraska and North and South Dakota; and much the
lowest daily car earnings were reported in the group
embracing Virginia, West Virginia and the Carolinas.
[VOL.
LXXXV.
for bad management which is susceptible of improve
ment, and therefore has much the same effect as an
The figures dealt with the last six months of 1906,
and the fall grain movement, combined with the
un*leveloped source of earnings.
But excess earnings which the management, for
one reason or another, has not seen fit to divide in a
movement of materials for new railroad building, in
given year, have habitually been charged to the two
addition to the rapidly increasing traffic in com
maintenance accounts, and in an attempt to uncover
modities, doubtless aided the Northwestern States in equities— that is, to show undivided profits or sources
reaching their daily average of $5 68, a highly excep of income which may ultimately be converted into
tional figure as compared with the general run of daily profits— the two maintenance accounts at once de
car earnings the country over. But in the Southern
States in the group last named earnings were only
mand attention as furnishing the direct clue to the
$1 93, a fact of material significance in view of the
widespread effort of Southern legislators to compel
the general reduction of railroad rates.
portation.
Of course, in order to make the maintenance figures
mean anything, it is necessary to have units; to know
most important equities derived directly from trans
The report devotes considerable attention to the
how much track a railroad has and how much equip
percentage of cars in shop. The average for the entire
group of roads considered was 5 .6 8 % , but individual
ment; and also to know, in a rough way, how much
it ought to spend each year in maintaining each one
roads ran as high as 1 9 ,2 0 , and, in one case, 3 0 % .
Mr. Hale points out that in times of shortage a rail
of these units in order to keep it up not only to the
road will tighten up its car repairs, watch the empty
standard of previous years without new capital cost,
but also to make it something like equal to the facilities
with which the company has to contend in competition.
and see that the highest possible percentage of car This especial feature of the maintenance charge is
capacity is utilized in order to increase the available often overlooked, and a company is credited with large
movement; check up delays in loading and unloading,
But as soon as local
undivided profits when, as a matter of fact, it is
shortage is relieved, vigilance is to some extent relaxed,
so that the former increase in efficiency is made only
spending sums which appear unduly large simply
supply of empties for loading.
temporary.
In other words, the spasmodic efforts
.towards increasing efficiency are pretty sure to be at
once local and shortsighted. This point is of great
importance, since a decrease of only a quarter of 1 %
in the average per cent of cars in shop would be
equivalent to an increase of 9 ;490 cars in service,
with an approximate value of $9,500,000. Similarly,
an increase of 1 %
which is now 7 1 % ,
because it has to to get its share of business from its
neighbors. A cardinal point to observe in calculating
maintenance equities, therefore, is that the thing
simply cannot be done without some knowledge of
the property and of the competitive conditions under
which it exists. It is also a cardinal point that what
may be called the proper unit figures for maintenance
in the average loaded mileage,
cost differ very greatly according to locality and ac
cording to the general standards which local public
would make available 18,980
sentiment demands and which purely physical con
.additional cars, and an increased movement of one
ditions require.
mile per car per day would mean 79,395 more cars,
-capable of earning $200,000 a day, on the present
and other parts of the Southwest does so much damage
average.
Like many other railroad problems, therefore, the
Thus, the alkaline water in Arizona
to locomotive boilers that maintenance cost in this,
region is materially higher than it is in Wisconsin.
Similarly the swamp lines of the Yazoo & -Mississippi
question of car efficiency resolves itself into a matter
Valley cost a great deal more to maintain per unit of
of ceaseless vigilance in details.
mony between lines is great, but no greater than the
length than railroad lines in Georgia; and it is equally
obvious that a double-track line costs more to maintain
need for the care and skill that will get the utmost
than a single-track line, and that more will be spent
The need for har
-.amount of work out of each road's equipment.
on a high-class rock-ballasted roadbed for first-class
passenger travel than on a line where trains are slow,
E S T I M A T I N G U N D I V I D E D P R O FI T S .
In studying the report of any corporation, and
light and infrequent.
Very much the best way to check maintenance
especially of a steam railroad, it is, of course, obvious
that the item of surplus net income available for divi
costs, therefore, is to compare a given road with an
other road operating in the same territory under like
dends on the stock— after operating expenses and
conditions, and enough familiarity with the property
must be had to know whether either one of the roads
■charges— may or may not represent the entire sum
which it would be possible for the company to disburse
is, so to speak, in arrears with its maintenance.
Good
in this way. The item of operating expenses— par
ticularly prior to the enactment of the July 1 expense
conclusions can be drawn by means of this method.
The Granger roads have always been noteworthy
accounts by the Inter-State Commerce Commission—
for the small sums for which they could keep their
property in first-class condition. The reason for this
has always been very flexible, and railroad managers,
the cost of new work and improvements between
is partly that physical conditions are good; dry,
rolling, prairie land making an excellent foundation
operation and capital.
for a railroad and rendering upkeep of the lines com
<|uite correctly, have used their judgment in dividing
Of the four principal sub
paratively inexpensive, while good water can be had
divisions of the expense account— (1) conducting
transportation, (2) maintenance of way and structures,
for locomotives.
(3) maintenance of equipment and (4) general ex
penses— the first and the last never include undis
importance why the principal Granger lines are able
to show as .low a figure as they do is that they have
tributed earnings, although it is not only possible,
but frequently true, that they furnish the best test
done their work well and faithfully for a great many
years and have not as many soft spots to look after
But another reason of almost equal
O ct ., 1907.J
7
RAILWAY AND INDUSTRIAL SECTION.
as the majority of the railroads in the country have.
between these two figures does' not represent quite the
It is also true that their traffic in coal, ore and iron same thing as undivided earnings, because of considera
products is relatively light, so that comparatively tions of competition noted above; but the student of
the property will make no mistake in assuming that a
little damage is done to the line by excessive loads.
The Chicago & North Western, with 7,429 route figure somewhere between these two extremes is the
miles, spent an average of $924 per route mile in the equity in this particular instance.
The 1906 year, from which the foregoing figures
1906 year for maintenance of way and structures,
while the Chicago Milwaukee & St. Paul, with 7,043
route miles, spent $845. These are, of course, re
markably low figures for American railway practice,
in view of the fact that both properties are excellently
are taken, was a year when almost every railroad in
the country found it convenient and expedient to turn
a considerable amount of surplus earnings back into
the property in the shape of permanent improvements
maintained. Both of these roads, however, have charged to operating expenses; therefore the figures
spent even less than this for a number of years, and for that year may all be looked upon as somewhat high,
have been able to do their work thoroughly well for and it is not only theoretically possible but perfectly
the sum thus represented, while their smaller neigh practicable for a company which has been making
bor, the Iowa Central, which, on the whole, is quite these extraordinary renewals for a series of years to
well maintained, performed this task in 1906 for $726
a route mile.
The comparison by route miles, although obvious
and easy, of course means very little, because of the
fact, already mentioned,that maintenance costs de
pend to quite a large degree on single-track mileage
reduce them, or even to temporarily discontinue them,
in seasons of less prosperity. Therefore the error in
calculating undivided earnings on the basis of excess
spent on upkeep of way and structures in a good year'
over a lean year will undoubtedly be smaller than the
error in assuming that no such equities exist.
from this source the figures noted will hereafter be
The cost of maintaining cars and locomotives can
be estimated with even greater accuracy than the
rather than on route mileage.
To eliminate the error
given in single-track miles, and this result of single-
cost of maintaining the line because
track mileage obtained arbitrarily by adding to the
vary less in different parts of the country.
route mileage the entire mileage of the second, third
and fourth tracks and also one-half the mileage of
particularly true with regard to cars. A statement
from the Harriman lines representing a period of
switches and sidings.
two and one-half years, and issued in February 1907,
shows that the total repair costs for all kinds of steel
Experience has shown that
this is about the right proportion to use in order to
the conditions
This is
obtain a correct unit, since it costs, roughly, just
about as much on the average to maintain two miles
of switches and sidings as it does to maintain one mile
cars on the lines averaged $2 79 per car per month,
of single-track main line.
month, or $48 48 per car per year.
or $33 48 per car per year; while the repair cost of
all kinds of wooden cars averaged $4 04 per car per
Moreover, the
On the basis of single-track mileage thus derived,
figures as given were abnormally high on account of
the Chicago & North Western spent $712, the Chicago
Milwaukee & St. Paul $674 and the Iowa Central,
the fact that the company owned in the period under
consideration an average of nearly 1,200 oil cars,
which were new equipment to begin with, but which
$655.
For comparison with these figures, it is noteworthy
that the Atchison spent $1,262 per single-track mile;
the Lehigh Valley, $1,212; the Norfolk & Western,
received a number of expensive alterations when they
were first received, which alterations were charged to
$1,400; the Southern Pacific, $1,479; the Northern
Pacific, $1,021; the New York New Haven & Hart
speaking, in the nature of repairs.
ford, $1,600; and the Cincinnati New Orleans & Texas
Pacific, $3,579. It will be observed that the examples
steel cars and of wooden cars in service, it will be seen
chosen represent operation in parts of the country
ment, per car per year, was about $41, including the
which differ widely. Now, in order to get a striking
example of a maintenance equity, it is only necessary
the annual reports of a large group of roads, that the
to consider the case of the Cincinnati New Orleans
& Texas Pacific and the Louisville & Nashville. The
Louisville & Nashville, which is in excellent physical
condition, spent $1,368 per single-track mile for main
the repair account, although they were not, strictly
As there were substantially the same number of
that the average cost of repairing both kinds of equip
abnormal steel car repair; but we see, in looking over
sums actually charged to the repair account per freight
car owned are much higher than this. Thus, in 1906
the Atchison Topeka & Santa Fe charged an average
of $104 per freight car and the Southern Pacific charged
tenance in 1906, while the Cincinnati New Orleans & the same amount precisely. The Chicago & North
Texas Pacific spent $3,579, as noted. These roads Western charged $83 per car; the Detroit & Mackinac
operate under similar geographical conditions, and we — a small railroad in Michigan— charged $80; the
know, moreover, from the detailed statement given Louisville & Nashville and the Norfolk & Western
in the Louisville & Nashville report, that of the entire
each charged $79; the Great Northern and the North
sum quoted only $1,071 was spent on what was con
sidered actual upkeep of the track, the balance, $279,
being spent on betterment. It is well known that the
ern Pacific each charged $68. In the case of the
Chicago & North Western, which presents its report
in very careful form, a division is made between the
Cincinnati New Orleans & Texas Pacific not many
sum charged for actual repairs and the sum charged
years ago was in bad physical shape, and that it is
for replacements and betterments, $35 per car for
now making excellent and well-directed efforts to im
the rear being charged to actual repairs and $48 being
prove this condition; yet it is obvious that if the Louis
charged to additions and betterments. The difficulty
in applying these figures scientifically lies in the fact
ville & Nashville can maintain for $1,071, the Cincin
nati New Orleans & Texas Pacific will not have to
spend $3,579 in the same territory.
The difference
3
that a considerable number of cars each year are de
stroyed in wrecks or become obsolete, and it is good
8
RAILWAY AND INDUSTRIAL SECTION.
[V ol.
lxxxv.
and conservative practice to charge replacements of spent $2,017; the New York New Haven & Hartford
these cars to operating expenses rather than to capital $2,262 and the Detroit & Mackinac— selected as an
But, in the natural order of events, the new cars bought example of a road that does not participate in through
to replace old ones are larger, of greater carrying hauls of heavy freight— spent $1,800. As against this,
capacity and greater earning capacity, and inciden it should be noted that the average expenditure on the
tally cost much more than the cars which they re Louisville & Nashville was $4,231; on the Lehigh Val
placed.
Therefore,
if
a railroad replaced a large
number of cars in a single year, and charged the re
placements to operating expenses, the number of cars
on its books would remain unchanged, while the
earning power of the equipment, and consequently the
earning power of the road, would be increased without
any new capital cost. It is generally assumed that
an average of from $50 to $60 per car per year is
ley, $3,170; on the Atchison Topeka & Santa Fe,
$3,101; on the Norfolk & Western, $3,259, and on the
entire Southern Pacific system, $3,531. If we assume
$2,000 as the bottom cost on a large system which
can get good water for its locomotives, we shall proba
bly be quite close to the mark, and it is obvious that a
charge of $3,000 or over contains equities.
The above comments deal with only one class of
ample to keep in condition the equipment of a road undivided earnings, those applied in the upkeep of the
which has not allowed itself to fall seriously behind its property; but it is obvious that when a railroad con
neighbors in past years, and on this basis it is evident trols other railroads through stock ownership, it may
that all the roads quoted show a considerable equity properly be credited with an equity in the surplus earn
in their freight-car-maintenance account.
Similarly, it is generally assumed that $650 per
passenger car per year is an ample sum for repairs
ings of these controlled roads in proportion to the
and ordinary renewal, and a number of the railroads
mentioned above spent even less than this sum in
to exclude consideration of undivided earnings in the
surplus of railroads in which a company has only minor
1906.
per passenger car, the New York New Haven & Hart
ity holdings. Thus, the Baltimore & Ohio has ex
tremely important minority holdings in the Reading
ford $543
while the
Company, holding something like 14 % of the total
Detroit & Mackinac, which has only a limited passen
common stock of that company; but it is not possible
Thus the Chicago & North Western spent $474
and the Iowa Central $353;
amount of stock which it holds. For purposes of cal
culation on a conservative basis it is probably better
On
ger business, spent $135. Therefore, when we see a or it to require larger returns on its investment.
charge of $1,089 per passenger car per year on the the other hand, the New York Central has recently
Louisville & Nashville, of $889 on the Atchison, $883 shown how it can increase its own income through the
on the Southern Pacific, $722 on the Norfolk & West medium of larger dividend payments which it is able
ern and $2,086 on the Cincinnati New Orleans & Texas
to dictate on such properties as the Lake Shore & Mich
igan Southern and the Michigan Central. Similarly,
Pacific, we can assume without error that strict re
quirements have been exceeded by something like
to take only one of an extremely large number of pos
the difference between the low figures and the high
figures’ although in the case of the last-named road,
as has been mentioned, the high cost is in part ac
sible examples, the Baltimore & Ohio, which owns
about 8 4 % of the common stock of the Cleveland
Lorain & Wheeling, could, if it wished, divert some
counted for by the desire to make up for certain
of the earnings of that road which have been spent on
deficiencies in previous years.
very liberal maintenance and replacements to surplus
It is much more difficult to get a scientific basis on
which the proper cost of making locomotive repairs can
be estimated. It was thought for a great many years
account and charge dividends against this surplus. So
long as actual control exists, it is essential that these
underlying undivided earnings be taken into account.
It
Another important source of equities is found in the
may safely be assumed, however, that this sum is not
land grants of a number of railroads, especially in the
Northwest, of which the Canadian Pacific furnishes per
that $1,500 per locomotive per year was ample.
sufficient under present conditions.
Competitive con
ditions have necessitated the hauling of very much
heavier trains than was the rule in the days when
$1,500 was ample for repairs and replacements, and
the machine which does the work is a much larger one,
costing in many cases twice as much as the engines
which formerly did all that was required of them, with
larger parts and larger repair charges all alqng the line.
Moreover, as was mentioned in an earlier paragraph,
repair costs in the Southwest, where alkaline water has
to be used in the boilers, are materially higher than
they are in other parts of the country, and repair costs
of overworked engines in heavy service are greater
haps the most important example. This company
owns, directly or indirectly, almost 15,000,000 acres
of land, but the selling value of this land is, of course,
problematical. Much of it is in territory where it
would bring only a tiominal price at the present time,
and the Canadian Pacific, like roads in the American
Northwest with large land holdings, finds it advisable
to dispose of small parcels of this land from time to
time, but to hold larger parcels for the future. It
must frankly be said that there is no way by which a
holding like this can be given proper weight in consid
ering the undivided profits, present and prospective,
than repair costs of engines which, owing to the nature
of a railroad.
of traffic conditions, have only light loads to haul.
The granger roads have always maintained their equip
would be nothing more than a guess, and would be
ment economically, as well as their permanent way.
and for a number of years this cost has averaged
A calculation based on present values
wholly inadequate, while a calculation based on pros-*
pective future values would be the wildest of hazards.
There is no satisfactory way in which capital equities
around $1,500 per locomotive per year; but these re
sults are now doubled on large roads in other parts of
of this sort can be combined with current equities such
the country.
Western spent $1,559 per locomotive for repairs and
figure for the whole. They must simply be kept
separate and considered separately, although often o f
$781 for renewals and betterments; the Iowa Central
the highest importance.
In the year 1906 the Chicago & North-
as those previously described
to give a reasonable
RAILROAD COMPANIES.
FOR MISCELLANEOUS COMPANIES SEE PAGES 152 TO 177, INCLUSIVE.
E X P L A N A T O R Y .— This Supplement Is expres«ly Intended for use In connection with the Investment news and official reports published from week
>to week In the "Chronicle.”
Frequent reference Is therefore made to the volum e and page of the "Chronicle” (as V . 7 4 , p. 000) where fuller Infor
m ation m ay be found.
Following also each statem ent Is given a reference to the latest news Item In the "Chronicle” respecting the com pany. A s
every such Item contains a reference to the last preceding Item, the reader can run back over the com pany’s history at pleasure. Annual reports
are In black-faced figures, and italics Indicate a paragraph headed b y the name of some other com pany.
In d ex .— A n y com pany not In regular alphabetical order m ay be found b y means of the Index, on another page, to roads leased and consolidated.
Dividends.— The dividends tabulated In the teat are those actually paid during the calendar years named. Irrespective of when earned.
Net earnings are given after deducting operating expenses and usually taxes, but not Interest, rentals or other fixed charges.
Securities.— These are described In table at head of page (except the stock, for lack of space, sometimes only In text below) as follows:
M iles of R oad.— Opposite bonds, this means the miles of road owned covered b y the mortgage.
Sice or Par Value.— Shows (In dollars unless otherwise m arked), the denominations or par value, “ 100, & c ..” signifying $100 and larger.
Rate Per Cent.— The Interest and dividend rate, per annum. Is here shown; g ., gold; cu r., currency; x , extra; s ., stock or scrip.
When Payable.— J. & J. stands for January and July; F . & A . , February and August; M . & S ., March and September; A . & O ., April andOctober;
M . & N ., M ay and N ovem ber; J. & D ., June and December; Q .-J .. quarterly from January; Q .- F ., quarterly from February; Q .-M ., quarterly
from March.
Bonds, Principal When D ue, E tc.— This column shows the date when the bonds mature and the amount and date of the last dividend.
Abbreviations in table; M . for “ mortgage” ; gen. M . for "general mortgage” ; con. M . or consol. M. for "consolidated mortgage” ; Inc. M . for “ income
mortgage” ; g. for “ gold” ; c. or cur. for “ currency” ; guar. p. & i. for “ guaranteed principal and Interest” ; cum . for “ cum ulative” ; non-cum . for
’ non-cum ulatlve” ; conv. for “ convertible Into stock at holder’s option” ; pref. for "preferred” : s. f. for “ sinking fund” ; 1. gr. for “ land grant”
r . "fu lly registered (no coupons)” ; c. "cou p on ” ; c.* “ coupon but m ay be registered as to principal” ; br. “ branch” : end. “ endorsed” ; red .,
‘ redeemable” : d’rn or “ drawn” subject to call when drawn by lot; p. m ., "p e r mile” ; as’ d , "a ssu m ed ” ; x , payable without deduction for any t a x .”
Mortgage Trustees and Stock Transfer Agents (TR Treasurer’s Office) are indicated thus:
N E W Y O R K C IT Y —
CHICAG O —
P H IL A D E L P H IA —
N. Y . C IT Y — (Concluded.)
BOSTON—
B— Bowling Green Trust.
FP— Fidelity Trust.
AC— Am er.Trust & Sa v. B k. AB— Am erican Trust.
Ta — Trust Co. of America.
BB—
Boston
Safe
Dep&
Tr.
QP—
Girard Trust.
Ba— Bankers’ Trust.
Un— Union Trust.
EC— Equitable Trust.
QuP— G uaranty T r .& S .D e p .
Ce— Central Trust.
FC— First Tr. & Sav. Bk.
IB— International T ru -t.
Us— United States Trust.
PIP— Provident Life & T r.
Eq— Equitable Trust.
Usm— U . S. M ort. & TrustCo IC— Illinois Trust & S a v .B k . NB— New England Tru^-t.
PeP— Penn. Co. for Insur.
MC— Merchants’ Loan & Tr.
OB— Old Colony Trust.
F— Farmers' Loan & Trust.
on Lives & Gr. A n n .
B A L T IM O R E —
NC— Northern Trust.
SB— State Trust.
G— Guaranty Trust.
W P — W est End T r. & S. D .
K — Knickerbocker Trust.
RC— Royal Trust.
ST LO U IS—
M a— M anhattan Trust.
BBa— B alt.T r. & Guaranty UC— Union Trust.
M St— Mississippi V alley Tr.
P IT T S B U R G H —
Me— Mercantile Trust.
CoBa— Continental Trust.
WC— W estern Trust.
SSt— S t. Louis U nion Trust. CPI— Colonial Trust Co.
M o— Morton Trust.
FBa— Fidelity & Deposit.
L O U IS V IL L E —
SAN FR ANCISCO —
F PI— Fidelity Title & Trust.
Mp— Metropolitan Trust.
MBa— Maryland Trust.
N— New York Trust.
MeBa— Mercantile Tr. & D ep. CL— Columbia Finance & T r. CS— California Safe Deposit PPi— Pittsburgh Trust.
& Trust.
UP1— U nion T rust.
S— Standard Trust.
SBa— Safe D ep. & Trust Co FL— Fidelity Tr. & Safety V .
LL— Louisville Trust.
S u b s c r ib e r s
w ill c o n fe r a f a v o r b y
g iv in g Im m e d ia t e n o tic e o f a n y e r ro r d isc o v e r e d
For explanation of column headings, &.C., see notes
on first page of tables.
Akron & Barberton Belt— 1st M s f text g .U s m .c * & r
Alabama Great Southern— Ordinary stock__________
Preferred stock 6 % $ 4 ,0 0 0 ,0 0 0 ____________________
First mortgage (American Co.) gold $ l ,7 5 0 , 0 0 0 . .F .c
General mortgage £ 1 , 1 6 0 , 0 0 0 _________________ C e.c
Car trust $50,000 due sem l-an gold N_______________
Do
7 4,000 due sem l-an g (V 82 p 8 6 7 ) ____
Alabama Midland— See Atlantic Coast Line R R .
Ala N O Tex & Pac J— " A ” deb redeem 1 9 1 0 at 1 1 5 . . C
“ B ” debentures income redeem after 1910 at l i o . . c
" C ” debentures income subj to call any time at 100
Alabama Tenn & Nor— 1st M gold te x t ________________ K
Alabama & Vicksburg— Stock $ 1 , 0 5 0 , 0 0 0 _____________
Vicksburg & Meridian 1st M gold $ 1 ,0 0 0 ,0 0 0 . F.xc*
Alabam a & Vicksburg con 1st M $ 1 ,800,000 g .C e .c
2d M .orlg.$700,000 gold (Is tM .o n 15,612 acres)Ce.c
Alaska Central— 1st mortgage $ 3 0,000 ,000 g o l d .. W .C
Albany & Northern— 1st M gold ($50,000 are pref) . . c
Albany & Susq— Stock dividends guar by D & H (end)
1st M $ 1 0 ,000 ,000 ggu ar p & lc o n v te x t U sro .c’ &r
Albany & Vermont— Stock 3 % guaranteed by rental.
Allegheny & W estern— Stock ($ 3 ,5 0 0 ,0 0 0 )____________
1st M $2 ,5 0 0 ,0 0 0 gold guaranteed p & 1 e n d ____ G.c*
Allegheny Valley— 1st M. guaranteed Penn R R _____ c
Mortgage to State of Pa $100,000 due Jan 1 yearly.r
Gen M ($20,000,000) gold guar p & i..F P i.x c * & r
Allentown RR (leased to Philadelphia & Reading Ry)
Allentown Terminal— 1st M guar p & 1 (end) g _ .C e .x c *
M iles Date
of
of
Road. Bonds.
290
26
143
143
143
143
50
35
142
12
66
66
262
262
262
1878
1888
1905
1906
1890
1890
1890
1906
1881
1889
1889
1905
1896
1906
1898
1869
1869
1892
1889
Size, or
Amount
Par
Value. Outstanding
$ 1,000
50
' 50
$ 1,000
£100
1,000
1,000
Rate
%
748,850
5 g
£ 1 ,0 4 8 ,3 9 0
5 g
£ 8 1 0 ,6 5 3
5 g
$208,000
1,000
. 5
1.050.000 7 in 1907
100
1,000,000
1,000
kg
1 0 0 &c
588.800
5
464 000
100 & c
5 g
1,000
3.5 0 0 .0 0 0
5 g
4 0 0 ,000j
1,000
3 .500.000
100
1,000 &c
See tex t.
3H g
600,000
3
100
3.200.000
100
6 g
2,000,000
1,000
4 g
9.998.000
7
$ & £
5
100,000
200,000
1.000
7 .250.000
4 g
1,268,884 incl. $1,0
50
450,000
1,000
4 g
£20
£20
When
Payable.
t a b le s .
&c
&c
S
Z*
Where Payable, and by
W hom .
Bonds— Princi■\val, When D ue.
j Stocks— Last
Dividend.
D U S Mort & Tr Co. N Y
London
A
do
J Farm L & T r , N Y ; & Bos
D Glyn Mills & Co, London
N Y , Blair & Co.
A
New Y o rk .
N
June 1 1942
Dec 1891
A u g 3.1 ’07 3 %
Jan 1 1908
D ec 1 1927
To Feb 1915
May ’08 -M a y ’ 16
M & N G lyn,M ills,C & Co, Lond.
M & Nl
do
do
A & OiSee text.
A & Ol Knickerbocker Tr Co, N Y
Y early. Central Trust Co, N Y
A & O
do
do
Oj
do
do
O
do
do
O [Chicago and New York.
J H am bleton & Co, B alt.
J D e l & H udson Co, N Y .
O
do
do
N T roy, N Y .
J A Iselin & Co. N Y .
O
do
do
O Penn R R Co, Phil; & Lon
J Treasurer, Philadelphia.
S Penn R R Co, Philaael.
7 1, 400 ujnder Reading Co. mortga
J
&
Ji New York and Phlla.
N ov 1 1910-40
N ov 1 1910-40
N ov 1 1940
Oct 1 1956
Aug 31 1907,7 %
April 1 1921
April 1 1921
April 1 1921
April 1 1935
Jan 1 1946
July 1 1907 A H
April 1 1946
N ov 15 1907 I H
Ju ly 1 1907 3
Oct 1 1998
April 1 1910
Jan 1 1908 etc.
March 1 1042
ge of 1896,
July 1 1919
J
$1 ,052,000
4 g
7 .830.000
3 ,380,350 6 in 1907 F
J
1.750.000
6 g
J
£7 1 0 ,0 0 0
5 g
$750,000
4K J F
4^ g M
1 .257.000
£50 &c
A D IR O N D A C K R Y .— In 1902 merged with the Delaware & Hudson.
A K R O N & B AR BE R TO N BELT R R .— Owns a belt line around Barber
to n , O ., and also extends to Falrlawn and Akron, O .; total, 4 0.2 miles.
A consolidation In May 1902; V . 74, p. 1088. Stock. $ 1 00 ,00 0, owned
equally by the Cleveland Akron & Columbus, Baltimore & Ohio. Erie R R .
and Northern Ohio R y .
Bonds authorized, $1,5 0 0 ,0 0 0 ; Issued, $ 1 ,1 0 0 ,0 0 0 , of which $48,000 redeemed by sinking fund; $400,000 reserved for
future requirements. Drawn at 105 yearly Dec. 1 for sinking fund of
$11,550 per annum. V . 75, p. 4 4 0 .— (V . 78. p. 2598.)
A L A B A M A G R E AT SO U TH ERN R R .— (See M a p Southern R y .) — Owns
W auhatchle, T e n n ., to Meridian, M iss., 291 miles; leases W auhatchle to
C hattanooga, 5 miles, and Belt R y. of Chattanooga, 45 miles; trackage
to Blocton, A la ., 8 m ., and Gadsden, A la ., 6 m .; total oper., 354 miles.
O R G A N I Z A T I O N .— Controlled by Southern R y ., but operated Inde
pendently.
In 1905-06 the dual existence of the enterprise was ended, the
American corporation (A la. Great South. R R .) succeeding the English
corporation (Ala. Great South., Ltd.) as the parent corporation, the am ount
of outstanding stock remaining unchangd per plan In V . 81, p. 1722; V . 82,
p. 159.
Owns $833,300 stock of Southwestern Construction Co. received
In exchange for $833,300 Cincinnati New Orleans & Texas Pacific stock.
See V . 65, p. 1173.
The funded arrears of preferred dividends were in Feb. 1906 exchanged
for an equivalent am ount ($399,464) of 4 % obligations payable by sinking
fund 1 0 % semi-annually till all are redeemed Feb. 1 1911 and uncondition
ally guaranteed by the Southern R y (V . 81, p. 1722; V . 82, p. 159).
D IV ID E N D —
’01. ’02. ’03. ’04. ’05. ’06. ’ 07.
9 10
9
6
6
6
Pref. stock (“ A ” shares old Eng. c o .) ____ 9
B O N D S .— Gen. mort. 6s, £ 4 8 4 ,0 0 0 , will retire first 6s and debentures.
L A T E S T E A R N I N G S .— U 9 0 7 . .......... Gross, $727 ,17 2; net, $117,974
2 m os., July 1 to A ug. 3 1 J 1 9 0 6 ............Gross,
6 54,093 ;
net,
139,323
A N N U A L R E P O R T .— Report for vear ending June 30 1 9 0 6 In V 83
p . 1225.
In 1906-07, gross, $4 ,1 6 9 ,4 5 6 ; net, $782 ,88 1.
In 1905-06,
gross, $ 3 ,7 7 4 ,6 2 1 ; net, $712 ,75 4; other income. $53,309 : interest on bonds,
$ 2 96 ,24 1; income tax, & c., $71,3 5 7 ; bal. for stock, $398 ,46 9; dividends
( 6 % ) , $195 ,05 6.
In 1904-05, gross. $ 3 ,3 0 8 ,3 0 0 ; net, $ 6 0 1 ,3 2 5 .— (V . 82,
p. 1170; V . 83, p. 1225; V . 84, p. 50, 1051.)
A L A B A M A N E W O R L E A N S T E X A S & PACIFIC JUNCTION R A IL W A Y S CO. (L IM IT E D .)— This Is an English com pany controlling Alabam a
& Vicksburg, 143 miles; Vicksburg Shreveport & Pacific, 189 miles; New
Orleans & North Eastern, 196 miles.
S T O C K .— Pref. A 6 % cu m ., $1,500 000; def. B . $ 2 ,500,000; par, £ 1 0 .
S E C U R IT IE S O W N E D .— Alabam a & Vicksburg, $30,000 first mortgage,
$3 8 0 ,0 0 0 second m ortgage, $141,100 consolidated first mortgage and
$5 8 1 ,5 0 0 stock; Vicksburg Shreveport & Pacific, $1,51 3 ,0 0 0 general mort
gage, $2,08 0 ,1 0 0 preferred and $2,77 3 ,5 0 0 common stock; New Orleans &
North Eastern, $ 5 ,1 1 5 ,0 0 0 general m ortgage, $ 1 ,500,000 Incomes and
$ 5 ,3 2 0 ,0 0 0 stock; Southwestern Construction C o., $448,700 stock; Rail
road Lands C o .. $108 ,85 0 (of $120,000) stock.
C O U P O N P A I D .— F or...........’94. ’95. ’9 6 . ’9 8 . ’99. ’00. ’01. ’02 to ’06“ A ” Debenture............................% 5
5
5
5
5
5
5
5 % yrly.
“ B”
do
............................% .875 1 2 H 2 H
5
5
5 % yrly.
“ C”
do
........................... % ..................................1 H
-2 % 5 % yrly.
E A R N I N G S .— See separate statem ent for each of the controlled com
panics.
In year ending D ec. 31 1906, net from Investments was $172,688
paid general expenses (£ 3 ,5 6 6 ), Income tax ( £ 8 .6 0 1 ), Interest on " A
debentures (£ 3 5 ,5 7 0 ), on “ B ” debentures 5 % paid In Jan. 1907 ( £ 4 9 .7 9 8 ),
o n “ C ” debentures, 5 % (£38,506) balance, £ 3 6 ,6 4 6 .— (V . 8 1 , p. 1314.)
in th e se
I N T E R E S T OR D I V I D E N D S .
R A IL R O A D S .
&
&
&
&
&
&
A L A B A M A TE N N E SSE E & NORTH ERN R R.— Owns from Reform , A la.
on the Mobile & Ohio southerly to Allcevllle, 21 miles, with southerly exten
sion of 24 miles under construction in O ct. 1907, of which 6 m . com
pleted.
Successor to Carrollton Short Line R y .
Stock authorized, $ 1 0 ,000 per mile.
O f the bonds ($ 1 ,500,000 authorized issue), $208,000 were
issued against the first 26 miles, $40,000 are issuable to build a steel bridge,
$992,000 at the rate of $8,000 per mile for additional mileage, but only when
the net earnings on completed mileage for the previous fiscal year are equiv
alent to Interest on the bonds to be issued in addition to bonds outstanding
and $260,000 for equipment on the basis of 10-11 of cost of equipment.
V . 83, p. 1036.
For 12 m onths ending June 30 1907, gross, $ 45,876 ; net,
$23,835 .
For year ending June 30 1906, gross, $41,413 ; net, $ 2 2,240 .
In
1904-05, gross, $38,318; net, $ 1 9 ,4 9 1 .— (V . 83, p . 1036.)
A L A B A M A & V IC K S B U R O R Y .— Owns Vicksburg to Meridian. M i*s.,
and branch, 143 miles, all steel rails. Controlled by A labam a New Orleans
Texas & Pacific Junction C o., which see.
Reorganization of the Vicksburg
& Meridian foreclosed Feb. 4 1889 (see V . 4 8 , p. 190).
D I V I D E N D S .— 1890 to 1892, 3 % yearly; 1896, 3 % ; 189V to 1899, 5 % :
1900 to 1902, 6 % yearly; 1903, 9 % ; 1904 to 1907 , 7 % yearly.
Stock divi
dend of 5 0 % In 1900.
B O N D S .— Of the $1,800,000 consols authorized, $1,000 000 are with
trustee to retire Vicksburg & Meridian firsts.
E A R N I N G S .— Fiscal year ends June 30.
For 2 H months ending Sept 7
1907. gross, $ 2 76 ,39 1, against $250,094 in 1906.
Report, V . 83,
p. 1345.
Years—
Gross.
Net. Interest, & c .B a l .,s u r .
Dividend.
$339,381
$168 ,07 7
$171,304
(7) $73,500
1906 -19 07............... $ 1,57 7 ,0 1 2
1905-190 6
1,380,247
302,218
‘ 159,774
142,444
(7) 7 3,500
•Includes $82,510 for new freight cars in 1906-1907, against $65,497 In
1 905 -06 .— V . 83 p. 1410; V . 84, p. 1365, 1487; V . 85, p. 158, 721.
A L A S K A C EN TR AL R Y . (See M a p .)— Building from Seward, on south
coast of Alaska, north to near Fairbanks, on Tanana River, 450 miles. Of
this, 46 miles from Seward north were in operation July 1 1906, and 60
miles additional under construction, contract having been let for first 185
miles. V . 82, p. 1495.
Branch is proposed from K nlk, about 150 miles
from Seward east to M anatuska, 40 m iles. V . 84, p. 1112.
Annual report
at length was in V . 82. p. 756.
Stock authorized, preferred, 5 % non-cum ulatlve, $ 2 ,5 0 0 ,0 0 0 ; com m on.
$ 2 7,500 ,000 ; outstanding, preferred, $1,9 1 2 ,4 5 0 ; com m on, $3 750.000 : par
of shares, $100. Stock is limited to $35,000 per mile. Bonds ($30,000,000
authorized) are issuable at $35,000 per mile of main and $25,000 of second
track, with additional bonds for terminals, tunnels, bridges, &c.
Of the
bonds and stock, $ 8 ,500,000 each are Issuable on the first 185 miles. See
V . 8 1 , p. 1846; V . 82 p. 1495.
President, A . C. Frost, Chicago: Vice-President. H C. Osborne, Toronto;
Secretary, James A . H aight, Seattle; Assistant Secretary, Pierre G . Beach,
Chicago: Treasurer, G L. Francis, Toronto.
Trustees: Albert C. Frost, Chicago: Henry C. Osborne and Gwyn L .
Francis, Toronto; George A . B all, Muncie; George Turner, Spokane; F.
Augustus Helnze, B utte, M ont.: James A . Moore and James A. H aight,
Seattle.
Executive offices, 108 La Salle S t ., C hicago.— (V . 84, p. 1112.)
A L B A N Y & NORTH ERN R Y — Albany G a., to Cordele, 37 miles. A
reorganization In 1895. Stock, $350 ,00 0; par of shares, $100.
O f the
bonds, $50,000 have a prior Hen.
Frank S. Ham bleton of Baltimore and
Henry P. Talm adge of New York are mortgage trustees. See official state
m ent, V . 76, p. 749. Year ending June 30 1907, gross, $107 ,51 1; net,
$17,121 ; Int. on bonds, $ 19,200 ; taxes, $ 3,456: balance, deficit, $5,5 3 5 .
V .-P . and Gen. M gr., J. S. Crews; Sec., N . H . Johnson.
Office. A lb a n y,
G a.— (V . 83, p. 1522.)
10
KAILWAY STOCKS AND BONDS.
I N T E R E S T OR D I V I D E N D S .
R A IL R O A D S .
For explanation of column headings, A c .. see notes
on first page of tables.
Ann Arbor— First mortgage $ 7 ,000,000 go ld ._M p .x c*
Argentine Central—-1st M $200,000 g red s f ( t e x t ) ___
Ashland Coal & Iron— S to c k ____________________________
First refunding mortgage $400,000 g old____________ N
Astoria & Columbia— 1st M $ 8 ,0 0 0 ,0 0 0 ________ _____ Ce
Atchison & Eastern Bridge— 1st M g s f red t e x t -.C e
Atch Top & S Fe Ry— Stock, com , $2 5 0 ,0 0 0 ,0 0 0 _______
Stock preferred $131 ,48 6,00 0 5 % no n -cu m u latlve..
Chicago & St Louis 1st M ($10,000 p m) c u r_ .F .c
Chicago Santa Fe & California 1st M g o ld ..B B .c * & r
General mortgage gold see t e x t ____________ U n;c*& r
A di Inc M cumulative from July 1 1900 gold-C e.c*& r
do
do , lnt stamped payable M & N _________
Eastern Oklahoma D lv 1st M $10,000 ,000 g_G .c*& r
Deb gold Ser E to L $2,500,000 each; call 105 G.c&r
Bonds $50,000,000 conv com stk red te x t.M o .c * & r
Bonds $30,000 ,000 conv com stock red te x t.S x c * & r
i Hutchinson & So 1st M gold red 105 begin 1908-O B .c 1
San Fr. & San Jo Val 1st M g call 110 aft 1 9 1 5 .Me.c
Santa Fe Prescott & Phoenix— 1st M $ 5,000,000 g Mec
Second mortgage gold________________ ______________ Ce
Prescott & Eastern 1st M p & I guar-------------------Ce
Miscellaneous divisional bonds— see text.
Atlanta Bir & Atl— 1st M $30,000 ,000 g red 1 0 6 .0 B .c »
Atlantic & Blrm 1st M red 110 beg 1909______OB.c*
Joint coll trust notes gold redeemable 1 0 l__T a _c*
Equip bonds (V 85, p 39) due $86,000 sem l-ann: . - G
Atlanta & Charlotte— Stock (see t e x t )_________________
Pref M (old 7s extended In 1907) See.V 64, p 2 8 6 .c*
First M extended In 1 9 0 7 _____________________ - _____r
Income bonds (not cum) ex In 1900 and 1907 ____
Atlanta Knoxville & Northern Ry— See Louisville & N
Atlanta Terminal— 1st M $1,500,000 g old ___S.C*&r
Atlanta & W est Point— Stock___________________________
Debenture certificates_________________________________
Atlantic City— 1st mortgage $2,20 0 ,0 0 0 g o ld.G uP .xc*
Atlantic City purchase money real estate M ____ OP
Sea Coast prior lien mortgage g old ______________
Atlan. City 1st cons M $ 4 ,500,000 gold p & I g u . . QP
M iles
Date
of
of
Road. Bonds.
292
16
1895
1900
1900
1896
1898
142
440
8.283
8.283
8.283
306
141
372
198
198
2 6M
337
*269
265 Vt
265 yi
ashvlll
3 .3
86
66
All.
1885
1887
1895
1895
1895
1903
1902
1905
1907
1898
1896
1892
1893
1898
1906
1904
1906
1907
1877
1877
1880
1903
1881
1889
1900
1898
1901
Size, or
Par
Amount
Value. Outstanding
$ 1,000
500 &e
50
1,000
$7 000,000
(?)
773,500
300.000
3.280.000
1,000
555.000
100 103,001,(100
100 114,173,730
1,000
1.500.000
560.000
1.000 &C
500 &C 146,634,500
500 <ScC 24,079,500
500 &c 27,648 500
6.128.000
1.000 &c
1.000 &c 17.235.000
1.000 &c 47.714.000
1.000 &c See text.
192.000
1,000
1,000
6 ,000,000
1,000
4.940.000
2.964.000
1,000
1,000
234.000
1,000
1,000
1,000
1,000
100
1,000
1,000
500
1,000
100
1,000
1,000
1,000
A L B A N Y & SU SQ U E H A N N A RR — (See M a p Delaware A Hudson.) —
R O A D .— Owns Albany to Bingham ton, N . Y . , 142 miles.
Operated
Oobleskill, N . Y . , to Cherry V alley, 21 m iles;, of the stock $450,000
owned Jan 1 1907 by Delaware & Hudson; total operated, 163 miles.
L E A S E D for 150 years from Feb. 1870 to Delaware & H udson Com pany;
rental Is 9 % per annum on stock.
(See guaranty, V . 5 6 , p. 774.)
Stock
holders’ D r o t e c t i v e com m ittee. Geo. P. Butler, Chairman; U . S. Trust Co.
depositary, claims for stock the benefit of refunding effected In 1906, say
33^ % yearly on stock.
V . 81, p. 1847; V . 83, p. 968, 1036.
In Sept. 1907.
the lower Federal court handed down a decision sustaining their position.
V . 85, p. 721.
B O N D S .— The stockholders on April 7 1905 authorized $ 1 0,000 ,000 of 40year 3 H % bonds to refund the $10,0 0 0 ,0 0 0 of 6s and 7s maturing April 1
1906, which were In June 1905 offered at par pro rata to the stockholders of
the D. & H . The new bonds are dated April 1 1906, guar. p. & 1., and until
A p r. 1 1916 convertible Into D . & H . stock— $500 stock for $ 1,000 bonds.
O f the bonds $ 3 ,376,000 had been converted In July 1907.
V . 80, p. 1174,
1362, 2343.
Form of guaranty, V . 82 p. 986.
A N N U A L R E P O R T .— Year ending Dec. 31 1905, gross, $ 6 ,093,960;
net, $2,7 6 2 ,5 5 7 .
Earnings no longer kept separate. President, Geo. P .
Butler: Secretary, W . L . M . Phelps. New directors (Oct. 1906 ), V . 8 3 ,
p. 9 6 8 ; v . 85, p. 1004 .— (V . 85, p. 721, 1004.)
A L B A N Y & VERM ONT RR — Owns road from Albany to W aterford J e t.,
N . Y . . 12 miles. Leased to Rensselaer & Saratoga In 1860 and now oper
ated by Delaware & Hudson Co. Annual rental, $ 20,000 .
A L L E G H E N Y & W E S T E R N R Y .— (See M a p B u ff. Roch. A Pitts.) —
Punxsutaw ney to Butler, P a .. 60 miles; branch. New Castle, P a ., to Cement
W ork s, 6 m .; total. 66 miles.
An extension of Buffalo Rochester & Pitts
burg, to which leased In perpetuity for guaranty of bonds and 6 % on stock.
Uses B alt. & Ohio from Butler to New Castle and Pittsburgh under a track
age arrangement, making In all 147 miles. See application to list In full,
V . 7 0 , p. 8 4 9 .— (V . 74, p. 774; V . 82, p. 508. 626, 691.)
A L L E G H E N Y V A L L E Y R Y .— Owns from Pittsburgh to Oil C ity, P a .,
133 miles; Red Bank, P a ., to Driftwood, 110 m .; others, 19 miles.
Controlled by Pennsylvania R R . C o ., which on Jan. 1 1907 owned $ 9 ,6 6 4 ,150 of the $10,544 ,200 common and $16,882,201 of the $17,173 ,800 of 3 %
cumulative preferred stock, and acquired most of remaining preferred.
The
stockholders of the Penn. R R . voted March 13 1906 to purchase the road,
but merger not completed to Sept. 1907. V . 8 1 , p. 1847; V . 8 2 . p. 159, 459.
B O N D S .— General mortgage Is guaranteed by Penn. R R . by endorsement
on each bond.
Real estate mortgages Jan. 1 1907, $733 ,00 0.
In 1906, gross, $6,321 ,8 9 9 ; net, $2,0 5 6 ,3 5 5 ; other Income, $ 7,909; Int.,
taxes. & c., $1,2 5 9 ,0 3 1 ; bal., sur., $805,234 — (V . 82, p. 159, 626, 691.)
A L L E N T O W N R R .— Topton to K utztow n. P a ., 4 14 m .; Reading system .
A L L E N T O W N T E R M IN A L R R .— Owns 3>$ miles of railroad In Allen
tow n , P a ., connecting the East Penn. (Phlla. & Reading) with the Cent, of
N . J. Leased for 999 years to Phlla. & Read, and Cent, of N . J. (by assign
m ent from Lehigh Coal & N avigation Co.) at Interest on bonds and 5 % on
$450 ,00 0 stock (par $50), bonds being guaranteed, principal and Interest,
b y Philadelphia & Reading (foreclosed) and Lehigh Coal & Navigation.
ANN ARBOR R R .— (See M a p Detroit Tol. A Ironton.) — Owns road from
Toledo, O ., to Frankfort, on Lake Michigan, 292 miles; operates car ferries
between Frankfort, M ich., Kewaunee and Manitowoc, W Is ., and Menominee
and Manlstlque, Mich. W abash uses Toledo terminals.
O R G A N I Z A T I O N .— Successor N o v . 1 1895 to T o l. Ann Arbor & N or.
M ich., foreclosed under Qulntard-Lawrence plan In V . 59, p. 782.
In
March 1906 the Detroit Toledo & Ironton R R . (wiilch see) had acquired
$3,10 2 ,4 0 0 pref. and $2,19 0 ,0 0 0 common stock.
V . 82. p. 508.
S T O C K .— Com m on, $3,250 ,0 0 0 ; preferred, $ 4 ,000,000; 5 % non-cumuiatlve: par $100.
Pref. stock cert., “ Supplem ent” O ct. 30 1897, p. 3.
A N N U A L R E P O R T .— For 1905-06 was in V . 8 3 , p. 1034, showingYear end. June 30—
i9 0 7 .
1906.
1905.
1904.
$2,175,231
$ 1 ,922,593
$1,979,047
Gross earn in gs........ ............$2,182,518
Operating expenses______ 1,415.659
1,391,680
1,337,364
1,475,133
Net earnings___________
N et Income_______________
Deduct— Interest _______
T a x e s ........ ........................
$766,859
$794,443
2 8 0 .00(1
137,000
$503,914
$515,809
280,000
59,955
Balance, surp lus-........... $377,443
$430,705
$266,299
$175,853
President, Eugene Zimmerman: Sec., G. Caspar Niles; A u d ., W . D . Gray.
— (V . 82, p. 508; V . 83, p. 1036.)
A P A L A C H IC O L A NORTHERN R R .— V . 85, p. 598.
ARGENTINE CEN TRAL R Y .— (Z-tt. gauge.)— Owns Silver P lu m e ,C o l., to
summit of Mt. McClellan, 16 miles, at an elevation of 14,007 feet. Stock,
$500 ,00 0; par of shares, $100: practically all owned by President.
Bonds
($200,000 authorized Issue, Central Savings B k., Denver, trustee) are sub
ject to call In 1912 at 106 and interesc.'ia sinking fund will provide "fo r full
payment at m aturity.”
V . 83, p. llJf70. President and Treas., Edward
J. W ilcox
Office. Colorado Pldg. ifcnver C ol.— (V . 83 p. 1170 .'
A R K A N S A S M ID L A N D R R.— Owlis from Helena, A r k ., to Clarendon
47 miles. Capital stock, $ 1 ,5 0 0 ,0 0 0 , was In 1901 acquired by Mo. Pac.
(St. Louis Iron Mountain & So. R y .) .
V . 74, p. 2 06, 574.
Bonds, $176,000 first gold 6s, due July 1 1911, subject to call at 110; int. J. & J.
Year
ending June 30 1906, gross, $110 ,18 8; net, $41,927; total deductions,
$ 1 9 ,5 1 9 ; b a l., sur., $ 2 2,408 . Pres., George J. Gould.— V . 7 2 , p. 935.
A R K A N S A S O K L A H O M A & W E STE R N R R .— V . 85, p. 220.
A S H E V IL L E & SP A R TA N B U R G R R .— See Southern R y .. Carolina D lv .
A S H L A N D COAL & IRON R Y .— Ashland to Straight Creek Je t., K y .,
22 m . Ches. & Ohio has trackage over this road. The mining Interests
were In Jan. 1902 transferred to Ashland Iron & Mining C o ., stock being re
duced from $ 1 ,547,000 to $773 ,50 0.
Bonds, see V . 71, p. 27.
Year end
ing June 30 1907, gross $161 ,55 8; net, $ 5 9,409 ; interest and taxes, $ 2 4,271 ;
dividends ( 4 % ) , $30,940 ; balance, surplus for year, $4,1 9 9 .
Loans and
bills payable June 30 1907, $66,604.
Dividends June 1900 to June 20
{V ol.
7.173.000
4.090.000
8 , 0 00,000
1.720.000
1.700.000
500.000
4.250.000
750.000
1.500.000
1.232.200
1.232.200
2.200.000
75,000
350.000
1,850.000
Rate
%
When
Pat/able.
Where Payable, and by
Whom.
Q— J
Metrooolltan Tr Co, N Y
& J|4th Nat B k, N Y ; & Den
Q— M Check from C o.’s office
M &
New York Trust Co, N Y
F &
J
&
Central Trust Co, N Y
J
&
Checks mailed from N Y
F &
do
do
5 Nassau Street, N Y
M &
do
J
&
do
A &
do
do
do
N ov
do
do
do
M & N
do
M & S
do
do
do
&
do
do
& D
do
& D
do
do
do
do
do
N ew York
M &
5 Nassau Street, N Y
J
&
A &
New York
J
M
J
lxxxv.
Bonds— P rin ci
pal. When D ue.
Stocks— Last
Dividend.
July 1 1995
Jan 1 1926
Aug 31 1907 1
M ay 1 1925
Aug 7 1996
July 1 1928
Dec 1 1907 3
Aug 1 1907 2J4
March 1 1915
Jan 1 1937
Oct 1 1995
July 1 1995
July 1 1995
March 1 1928
Feb
190R-1914
June 1 1955
June 1 1917
Jan 1 1928
Oct 1 1940
Sept 1 1942
July 1 1943
April 1 1928
JlOld Colony Tr Co, Boston; Jan 1 1936
Jj
do
do
IJan 1 1934
N Trust C o.o f Am erica,N Y jM a r 1 1910
j In W Harris & Co, N Y
Jan ’08-Ju ly ’ 17
<5c SjU S Mor & Tr Co, N Y Sept 0 1907 3 ^
J
do
do
!ja n 1 1910
&
J
do
do
Jan 1 1910
J
do
do
iJan 1 1910
D Standard Trust Co, N Y June 1 1953
J A tlan ta , Ga.
See text.
J|
do
do
jCompany’s op t.
N Reading Term B ldg, Phll M ay 1 1919
Oi
do
do
April 1 1930
O 1Philadelphia
April 1 1948
j)
do
July 1 1951
1902, 6 % yearly (1 H % Q -M ), and in June 1902 3 % extra; Sept. 1902 none;
D ec., 1 % ; since to Sept. 1907, 4 % yearly (Q -M ).
Pres., Robert Peebles;
Sec. and Treas., Frank B . Moore; Auditor, A . N . Richardson.— V . 77,
p. 1532.
AS H L A N D & W E S T E R N R Y — V . 83, p . 1468 , 1589; V . 8 4 , p. 692.
ASTO R IA & C O L U M B IA R IV ER R R — Goble to Seaside. O re., 79 m .;
branch, Warrenton to New Astoria. 2 m .; trackage. Goble to Portland, 4 0m .;
total, 121 miles. Stock, $1 ,6 1 9 ,0 0 0 ; par $100.
In 1907 acquired by
Great Northern and Northern Pacific. V . 84, p. 867.
Year ending
June 30 1906, gross, $569 ,29 9; net, $259 ,01 8; charges, $151 ,62 9; balance
surplus, $107 ,38 9.
Pres., C. M. L evey.— (V . 84, p. 867.)
ATCHISON & EASTERN B R ID G E — Owns railroad and wagon bridge at
Atchison, K a n ., connecting with the union station. Used by the Atch.
Top. & Santa Fe, the Chic. R . I. & P ., the Mo. Pac. and the Chic. Bnrl. A
Quin. A reorganization of the Chic. <Sc Atch. Bridge Co. foreclosed Mch. 4
1898, per plan V . 65, p. 366. Stock, $700 ,00 0; par, $100 per share. A sink
ing fund equal to the difference between the annual Interest on the outstand
ing bonds and $30,000 will retire bonds yearly at par and Interest (by lot
If not purchasable In the open market).
The following official statement
was furnished to the Inter-State Commerce Commission, but the company
pronounces It Improper for publication here, possibly because the wagon
and miscellaneous receipts may not be included: Year ending June 30
1906, gross, $117 ,04 5; net, $95,369 ; other inc., $12,838 Int. and sinking
fund, $29,051 ; d iv ., $35,000; bal., sur., $ 4 4,156 .
Pres, and T reas., H . P .
Eells. Cleveland, O .— (V . 6 7 , p. 578.)
(THE) ATCHISON T O P E K A & SANTA FE R Y .— (See M a p .)— The sys
tem operated July 1907 comprised 9 ,3 5 0 .2 8 miles of railroad, and embraced
an unbrcken line of track from Chicago, 111., via Kansas City, M o ., and A l
buquerque, N . M ., to the Pacific Ocean: also to Galveston. T e x ., and the
Gulf of Mexico. For operating purposes the system Is divided as follows:
M iles. I
M iles.
Atchison Topeka & S. F . .7 ,0 2 5 .2 7 IRIo Grande & El Paso______
20.17
Gulf Colorado & Santa F e . . l , 490.81 (South Kansas R y . of T e x a s. 129.17
Eastern R y. of New M exico. 221.47 Pecos R iver--------------------------54.2 7
Pecos & Northern Texas___ 1 5 1 .8 0 1Santa Fe Prescott & Phoenix 2 57.32
Total of all June 30 19 0 7................................................................................ 9 ,3 5 0 .2 8
This Is exclusive of 488 miles of new lines under construction substan
tially completed on last-named date. Also controls through ownership o f
securities orowns jointly with other roads 628 miles; total mileage, 10,466.
In 1900 acquired control of Gulf Beaumont & K . C. and Gulf Beaumont
& G t. Northern, which are leased. V . 7 6 , p. 751; V . 7 7 , p. 1224: also th£
Arizona & U tah, 22 miles. V . 8 2 , p. 48.
In Aug. 1906 acquired the
Arkansas Valley R y ., projected from Lamar to Rocky Ford, C ol.. 80 miles,
of which 40 miles completed.
V . 8 2 , p . 9 9 . 8 6 7 ; V . 83, p . 379. 562. Leases
Cane Belt R R ., 105 miles (entire stock ow ned), for 50 years from July 1905.
Stockholders were on Oct. 24 1907 to ratify lease of Fresno County R y .
and purchase of Arkansas V alley, Holly and Swlnk and Eastern Oklahoma.
V . 85, p. 598.
O R G A N IZ A T IO N .— This company was organized on Dec. 12 1895 tinder
the general laws of Kansas by the purchasers at foreclosure sale of the
property and franchises of the Atchison T . & Santa Fe R R . C o ., In accord
ance with a reorganization plan. V . 60, p. 658.
The railway company in July 1907 owned In fee 9,296 miles of the system,
and also all, or nearly all, the bonds and stocks of the various companies Id
which the title to the other lines Is vested. V . 68, p. 974. A list of such
holdings is In the general mortgage (In V . 6 2 , p. 7 3 2 , 7 3 3 . and successive
annual reports). See V . 69, p. 130P: V. 7 1 , p 27. Consolidation of con
trolled companies (April 19H7), V. S3, d . 1347: V . 84, p. 867.
San Francisco & San Joaquin Valley R y. was merged In June 1301.
Cut-off from Belen, N . M ., to Texlco, 268 miles, shortening the main line
about 200 miles, opened in August 1907. Proposed cut-off from
Brownwood, T e x ., to Texico, 350 miles, with branch, 125 miles
V . 75,
p. 28, 980; V . 81. p. 987, 1099, 1375; V . 84. p. 219; V . 85, p. 283.
Has a joint Interest with the Southern Pacific In the Northwestern Pacific
R R .. Incorporated Dec 31 1906 as a consolidation (see that com pany'
S T O C K .— The preferred stock has preference as to assets and non-cumu
latlve dividends not exceeding 5 % per an n., as declared by the board of di
rectors out of net profits. No other mortgage and no Increase In the pre
ferred stock can be made without content of ma or tv of all preferred stock
outstanding and of a i common stock represented at a meetlt.g. The
total authorized amount of preferred stock Is $ 1 3 i ,486,0 0 0 . of which $10,800,000 Is reserved to acquire other lines; also $6,486,470 In special trust
for Improvements, extensions, &c.
Pref. stock certificates In Supplement
of April 1897, p. 3.
In 1906 Oregon Short Line (Union Pacifie) purchased
$1 0 ,000 ,000 pref. stock. V . 84, p. 5 0 , 569.
Stockholders voted Jan. 30 1907 to Increase the authorized common
stock from $ 152 ,00 0,00 0 to $ 250 ,00 0,00 0 and also not exceeding $ 9 8 ,000 ,000
bonds, to be convertible into common stock. O f the convertible bonds
stockholders were offered $ 2 6 ,055 ,000 at par In July 1907. See B O N D S
below. V . 83, p. 1347, 1468; V . 84, p. 219, 389.
1907.
D l V ’S ( % ) . 1899.
1900. 1901.
1902. to 1905.
1906.
6
On com m on___ 0
0
3 Vi
4 yearly (J&D)
See below
5
On preferred.. 2
4
5
5 yearly (F& A)
5
In 1906, on com m on, June, 2 % ; D ec., 2 ) 4 % .
B O N D S .— The Gen. Mort. (Abstract V . 62. p. 7 31-‘:£ 9 . see also V . 6 8 ,
p. 974) gives a lien, either by direct mortgage or by collateral trust, on the
entire system of 8,283 miles of railroad owned, together with all the equip
m ent and terminals owned by the com pany, and future acquisitions.
General mortgage 4s fllmlted to $ 1 6 5 ,49 0,50 0.)
--------- Reserved
—
a T o retire guaranty fund notes paid and ca»- trusts In 1895.
In 1907.
at not exceeding $1.250 for each $1,000 of old b o n d s $1 5,50 0,00 0$2,339,385
b Non-assenting bonds from reorganization of 1 8 8 9 ..
1.500,000
504,960
c Chicago & St. Louis 1st mortgage 6 s ..............................
1 ,500,000 1 ,5 0 0 ,0 0 0
For Improvements, terminals, second track, equip
m ent, & c .t at not exceeding $3,000 000 yearly, of
3 0 ,0 0 0 .0 0 0 5.815 101
which not over $750 ,00 0 for extensions....................
20,00 9 ,0 0 0 8 ,731,554
For acquisition of Atlantic & Pacific and other lines.
11
*
RAILWAY STOCKS AND BONDS.
1907.J
O ct .,
12
RAILWAY STOCKS AND BONDS.
[V ol.
lxxxv.
O ct ., 1907.J
RAILWAY STOCKS AND BONDS
M A P OF T H E
A T L A N T A , B IR M ING HAM
AND
A T L A N T IC R AILR O AD
AN D
Brunswick Steamship Company
13
j
14
M iles
Date
of
of
Road. Bonds.
/•Atlantic C o**f I.Ire Co. (Conn.)— Stock $30,0 0 0 ,0 0 0 . .
Ctfs o*» indebt Inc non-cum $ 6 ,0 0 0 ,0 0 0 .............SBa.r
do
do
redeem at 105 after 20 years.S B a
do
do
redeemable at par after 5 y e a r s ..
^Atlantic Coast Line RR— Stock com m on ( t e x t )_______
Class “ A ” com stock tax exempt (Rich & Pet ctfs)
1897
1900
1905
%
First consol M $80,000 ,666 gold t e x t _______O s.c*& r
•■Col tr M gold secured by L & N stock red 105_c*& r
1st M on Jackson & Sow. $2,000,000 gold ... SBa.c*
; ^Certificates of Indebtedness (new) $ 2 5 ,0 0 0 ,0 0 0 ______
do
do
(old) ____________________
'Notes, $5,000 ,0 0 0 , gold--------------------------------------- c&r
Equip, tr. notes, gold, $225,000 due s. a __ SBac*
Bonds Underlying First Consolidated 4s.
North East (S C) cons M gold Flor to Charleston. .c
W ilm ington Col & Aug 1st M (W llm ’to n t o Columbia
Atlantic C L of S C gen 1st M (1st on 355 m )g_SB a.c*
Petersburg M class A g o l d ____________________________
do
do class B gold (Petersburg to W eldon) .
Richm ond & Petersburg 1st M ($24,500 are 7 s ) -----Consol M g (Richmond to Petersburg etc.) .C e_.c*
W llm & W eldon gen M ($938,000 are 4 s ).S B a .g * c
W ilm ington & NewBern 1st M gold assum ed.SBa
N tr & Car 1st M gold (P Pt V a to Tax N C ) ____ Ce.c*
i-econd mortgage g o l d ........................................ SBa.c*
Sav Fla & W 1st M gold ($2,444,000 are 5s) ,M p .c *& r
Charleston & Savannah general M g o ld ____ SBa.c*
Bruns & W 1st M Brunswick to Albany g g u ..M p .c
Alabam a Midland 1st M g (Balnb to M o n tg ).M p .x c
Florida Southern 1st M $ 5 ,000,000 g o ld -------AB.c*
Sanford & St Petersburg 1st mortgage go ld .__P eP
Ashley River first mortgage..............................— ..............
Sll Sp O & G 1st M gold (Ocala to Inv & br) ..T a .c *
W ll & W ei ctfs of lndebt for dlv 1887 non-cum Inc
Atlantic & Danville— IstM $4,425,000 g lnt ren tM e.c*.
Second mortgage $1,525,000 gold lnt ren tal-------Ta
Atlantic & North Carolina— Stock $ 1 ,8 0 0 ,0 0 0 --------------First mortgage $ 3 2 5 .0 0 0 _______________________MeBa
3,885
104
...
102
239
696
68
68
2?
27
479
90
110
110
547
111
169
174
244
145
4
64
1902
1902
1904
1902
1900
1907
1907
275
275
1883
1880
1898
1881
1881
1875
1890
1885
1897
1889
1896
1884
1886
1887
1888
1895
1894
1877
1888
1887
1900
1904
*98
1887
Size, or
Amount
Par
Value. Outstanding
1,000
1,000
1,000
1,000
1,000
500 &c
1,000
1,000
1,000
1,000
1,000
1,000
1,000
500 &c
1.000
1,000
• 1,000
1,000
100
1,000
1,000
100
1,000
Total earnings............... $9 3,683 ,407 $78,044 ,347 $68,375 ,837 $68,171,200
Operating exp en ses____ 58,867,901
4 8 ,497,518
4 5 ,517,384 42,222,032
Net earnings-............... $3 4,815 ,506 $29,546 ,829 $22,858 ,453 $25,949 ,168
Total net In co m e .............$35,5 6 8 ,6 7 4 $30,893 ,230 $23,672 ,355 $27,197,942
R ent Of tracks, &C...........
159,163
225,936
293,553
386,464
T a x e s ...................................
2.502,650
2 ,118,633
1,926,696
1,916.137
Interest on b o n d s ............ 11.487,935
10,622,184
9,6 1 1 ,5 1 0
9 ,418,800
Dividends on pref., 5 % .
5,708,690
5 ,708,690
5 ,708,690
5,708,690
Dividends on com. ( 5 ^ % )5 ,6 5 5 .0 3 2 (4 )4 ,0 7 8 .2 2 0 (4 )4 ,0 7 8 ,2 2 0 (4)4.078,220
M iscellaneous____ ______
441,426
412,253
9 8,250
116,800
Im p ’ts written off_______
9,6 0 0 ,0 0 0
4 ,500,000
Balance, surplus...........
$13,776 $ 3 ,227,314
$1 ,9 5 5 ,4 3 6 $5,572,831
O F F IC E R S .— Chairman of Executive Com m ittee, Victor Morawetz: E .
P . R ipley, ihresldent; D . L. Gallup, C om p.; H . W . Gardiner, A sst. Treas.
Directors.— Charles Steele, Edward J. Berwlnd, Geo. G. H aven, H . H .
Rogers, H . Rleman D uval, Thomas P. Fowler, Victor Morawetz, New York;
John G . McCullough. Verm ont; B . P. Cheney, Boston; Edward P . Ripley,
Byron L. Sm ith, Chicago: Andrew C. Jobes, W ichita; Howel Jones, Charles
S . Gleed. Topeka: H . C. Frick, Pittsburgh.
O F F IC E — 5 Nassau S t ., N . Y . — (V . 85. p. 598, 915, 938.)
A T L A N T A & CH A R L O T TE A IR LIN E R Y — (See M a p Southern Railwav System .)— Owns Charlotte, N . C ., to A tlan ta, G a ., 269 miles.
The operating contract of 1881 accepted by the Southern R y . requires the
paym ent of Interest on A t . & C. debt and 5 % on stock; if gross earnings ex
ceed $ 150 0,0 00, dividends to b e 6 % , and If they exceed $ 2 ,5 0 0 ,0 0 0 , 7 % .
In 1907 the bonds (three Issues) were extended 3 years.
V . 8 3 , p. 1347.
Stock largely deposited with a com m ittee, W . Emlen R oosevelt, Chairman
(U . S. M tge. & Trust C o ., depositary), until May 1 1 9 1 0 ,to prevent In
crease of mortgage debt unless stock Is recompensed.
V . 8 3 , p. 1410.
D IV I D E N D S , 1 1881 to ’ 89. 1890. 1891 to Mch. '01 incl.
Since
P ercent—
I 5 yearly.
5H
6 yearly (M . & S.) 7 y r ly .(M & S .)
L A T E S T E A R N I N G S .— 1190 7..................Gross, $1,4 5 2 ,3 0 8 ; net, $344,181
2 m o s., Mch. 1 to June 3 0 ./1 9 0 6 _________ Gross, 1 ,329,773; net, 334,779
E A R N I N G S .— For year ending Feb. 28 1907, gross, $ 4 ,1 6 9 ,4 2 3 , against
$ 3 ,9 7 5 ,6 9 8 in 1905-06. Pres., C. S. Fairchild, N . Y . — (V . 83, p. 1410.)
A T L A N T A T E R M IN A L CO.— Owns union passenger station opened
May 14 1905, with approaches, used by Southern R y ., Central of Georgia
R y . and A tlanta & W est Point R R .
Stock, $ 1 5 0 ,0 0 0 ,owned In equal pro
657,000
• e
6
1,600,000
5,547,000
4 g
868,000
5 g
800,000
6 g
6 &7
340,500
300,000
4X g
4.000,000 4 g <Sc 5 g
106,000
4 g
1,320,000
5 g
400,000
5 g
6,500,000 5 g & 6 g
1,500,000
7 g
1,407,000
4 g
2,800,000
5 g
2,418,000
4 g
275,000
4 g
33,500
8
492.000
4 g
1,000
7
3,925,000
4 S
775,000
4 g
1,797,200 See text.
6
325.000
J
J
J
J
A
M
A
J
F
A
J
A
J
J
M
J
J
J
J
A
J
J
F
J
&
&
&
&
&
&
&
&
&
&
&
&
&
&
&
&
&
&
&
&
&
&
&
&
.
Bonds— Princi
pal, When D ue.
Stocks— Last
Dividend.
Baltimore
In 1906 paid 5 %
In 1907 paid 4 %
In 1907 paid 4 %
Treas Office, W llm , N C
do
do
do
do
United States Tr Co, N Y
J P Morgan & Co, N Y
Safe Dep & Trust Co,Balt
Treas Office, W llm , N C
do
do
U S Tr Co, N Y and Balt
do
do
Sept 1 0 1 9 0 7 2 H
Irredeemable.
July 1 1907 2 %
Jan 1 1925
July 10 1907 3 %
July 10 1907 3 %
Nov 101907 2 H
July 1 1952
Oct 1 1952
Dec 1 1954
Irredeemable.
Irredeemable.
Mar. 1 1910
To Mch. 1 1917
Cuyler Morgan & Co, N Y
First N at B k, N Y ; & Balt
Safe Dep & Trust Co,Balt
Richmond Office.
do
do
do
do
Brown Bros, N Y
First N at Bk, N Y ; & Balt
Safe Dep & Trust Co,Balt
Central Trust Co, N Y
Safe Dep & Trust Co,Balt
o United States Tr Co, N Y
do
do
J
do
do
J
N Metropolitan Tr Co, N Y
\J United States Tr Co, N Y
do
do
J
J Asst Treas, Charlest’ n SC
J United States Tr Co, N Y
O Treas, W ilm in g to n , N C
J Mercantile Trust Co, N Y
J Trust Co of America, N Y
A Check from C o.’s Office
J N at Mechanics’ B k , Balt
Jan 1 1933
June 1 1910
July 1 1948
July 1 1926
Oct 1 1926
M ay 1 1915
April 1 1940
July 1 1935
Aug 1 1947
April 1 1939
July 1 1946
April 1 1934
Jan 1 1936
Jan 1 1938
Nov 1 1928
Jan 1 1945
Jan 1 1924
Jan 1 1915
July 1 1918
Irredeemable.
July 1 1948
July 1 1948
July 10 1907 1 n
July 1 1917
When
Payable.
$100 $12,600,000 10 Inl906
Q— M
5 cur J
& D
5 ,000,000
100 &c
J
5 ,000,000
4
J
&
100 &c
&
J
3 ,000,000
4
J
100 &c
J
&
100 47,537,600 6 In 1907 J
1,000,000 6 In 1907 J
&
J
100
1,596 600 5 in 1907 M & N
100
M & S
1,000 &c 4 7,322 450
4 g
M & N
1,000 &C 3 5,000.000
4 g
J
& D
778.000
1,000
4 g
4
M & N
100 &c 2 1 ,566.600
4
.1 & J
100 &c
500
5,000,000
M & S
1,000 &c
5 g
M & s
4 ,275,000
1,000
4 g
The Adjustment Mortgage (Abstract V. 62, p. 739) Is to the Central Trust
Co. as trustee.
Interest Is payable only out of net earnings up to 4 % In each
year, cumulative since July 1 1900.
Present Issue Is limited to $51 ,7 2 8 ,0 0 0 .
but when the $30,000 ,000 general 4s authorized for Improvements as above
have been Issued. $20,000 ,000 additional adjustm ent 4s m ay be Issued for
the same purpose at not exceeding $2,000,000 In any one year, but only by a
m ajority vote of the adjustm ent bondholders. Interest— In N o v . 1897
paid 3 % ; since, full 4 % yearly.
The Eastern Oklahoma division 4s of 1903 ($10,000,000 authorized) will
be Issued for extensions; the present Issue of $ 6 ,128,000 Is secured on lines
comDleted In 1904- viz .: Paul s Valley to Newkirk. Ind. T e r., & c., n total
o f 306 miles. V . 76. p. 434; V . 7 9 , p. 1331; V . 84, p. 1549; V . 8 5 , p . 598.
T h e $ 3 0 ,000 ,000 debenture 4s of 1902 were issued to pay tor new equip
m ent, new mileage permanent improvements, & c.; $ 2 ,500,000 paid off
yearly.
No new mortgage on lines owned when the debentures were Issued
can be made without securing debentures thereunder. See statem ent,
V . 7 4 , p. 150, 204; also V . 75, p. 680. The debentures are paid from cash in
the treasury and not included in the Income account. V . 77, p. 2338.
The 4s of 1905 ($50,000,000 authorized issue) are convertible at par be
tween June 1 1906 and June 1 1918, and m ay be called at 110 on any Interest
day, but when called m ay be converted Into stock provided the time for con
version has not expired. No new mortgage on lines owned Jan. 1 1905 shall
be made without securing the convertible bonds thereunder. V . 7 9 , p.
2695; V . 80, p. 649; V . 81, p. 1174; V . 82, p. 391, 867.
Stockholders on Jan. 30 1907 authorized the issue of $98,000 ,000 of con
vertible bonds. O f the bonds ($26,056,000 of 10-year 5s, part of an Issue
of $ 3 0 ,0 0 0 ,0 0 0 ), $ 9,94 3 ,0 0 0 were subscribed by stockholders at par, payable
3 0 % on subscription, 3 5 % between Jan. 5 and 10 1908 and 3 5 % between
June 5 and June 10 1908 or in full on any of said dates, and the remaining
$ 1 6 ,1 1 3 ,0 0 0 sold. The bonds are convertible into common stock at par
to June 1 1913 and m ay be called at 110 on any Interest day, but when
called m ay be converted Into stock provided the time for conversion has
not expired.
No new mortgage on lines owned Jan. 1 1907 shall be made
without securing the 5s of 1907 thereunder. V . 84, p. 1051, 1112; V . 85,
p. 9 7 . 283. 529.
The following miscellaneous divisional bonds, in addition to those shown
in the table above, were outstanding on June 30 1907;
Name of Issue.
Date.
Interest. Outstanding.
M aturity.
G ulf Beau. & K . C. 1st M g o ld . 1893
6 g F -A
$618,000 Aug 1 1 9 1 3
315.000 Aug 1 1913
2nd M. ($138,509 are 6 s )____ 1893 5& 6 g F -A
750.000 June 1 1921
Cane Belt 1st M . g . red............
1901 5 g J-D
1,000 Jan 1 1948
Pecos Valley & N E 1st M ______ 1898 5 g J-J
4,850
Miseell. unassented old bon ds.
F IN A N C E S .— In 1906 the dividend rate on the common stock was raised
to 5 % and in 1907 to 6 % . V . 84, p. 803. A s to the authorization of conv.
bonds and stock in 1907 see above.
L A T E S T E A R N I N G S .— \1907...........Gross, $15 ,9 2 8 ,4 4 5 ; net. $4,975,321
2 m os., July 1 to A ug. 3 1..[19 06______Gross, 1 3 ,932,256; net, 5 ,398,040
Deducting taxes and rentals, balance for interest in 2 months of 1907
was $ 4 ,4 9 4 ,3 4 1 , against $ 5 ,0 1 9 ,5 6 4 . R oad operated, 9,406 average miles
In 1907, against 9,211 miles in 1906.
R E P O R T .— Annual meeting third Thursday In October. Report for
year 1906 was given In V . 85, p . 9 15, 938; see also page 892.
Years ending June 30—
1907
1906.
1905.
1904.
Average miles operated.
9,273
8,434
8,305
8,180
Freight earnings............... $ 6 5 ,500 ,309 $54,598 ,903 $47,408 ,982 $47,762,653
P a ssen g e r........................... 2 1 ,171,629
18,013,988
16,045,380
15,433,774
7.0 1 1 ,4 6 9
5 ,431,456
4 ,921,475
4 ,974,773
Mail, express, & c_______
Rate
%
lxxxv
Where Payable, and by
Whom
I N T E R E S T OR D I V I D E N D S .
R A IL R O A D S .
F o r explanation of column headings, & c., see notes
on first page of tables.
P r p fp r r # » d Q tn p lr
[V ol.
RAILWAY STOCKS AND BONDS.
J
D
J
J
O
N
O
J
A
O
J
portions by the three companies named, which pay all charges and ex
penses on car basis. V . 76, p. 5 93, 1394; V . 77, p . 699.
A T L A N T A & W E ST POINT R R .— Atlan ta, G a ., to W est Point, G a .,
16 miles. Georgia R R ., June 30 1903. owned $547,200 stock and $388 ,90 0
deb. cert. A belt line around Atlan ta, 5 H miles, Is operated at rental of
$16,000 yearly, 4 % on Its cost. V . 71 p. 963: V . 7 3 , p 1354.
D IV ID E N D S begun In 1855 were for m any years 8 % per annum.
From
July 1 1884 to July 1901 Inclusive, 6 % yearly, J .& J .: O ct. 1 1899, 25 % ex
tra (V . 69. p . 590): 1902 (?): 1903, 6 % : 1904 . 6 % : 1905, 6 % .
In 1905 -06 , gross, $1,0 4 3 ,9 7 3 ; net. $397 ,68 1; other Income, $ 1 2 ,8 6 0 ;
charges, $315 ,50 6; dividends, $73,9 3 2 ; surplus, $21,1 0 3 .
In 1904-05,
gross $913,208; net, $ 3 6 0 ,1 6 4 .— (V . 6 9 , p. 590; V . 7 1 . p. 963.)
A T L A N T A B IR M IN G H A M & A T LA N T IC R R .— (See M a p .)— Bruns
wick to W a d ley , G a .. 326 miles; Sessoms to W aycross, G a ., 26 m iles;
Fitzgerald to Thom asvllle, G a ., 81 miles: branch, Bushnell to Crystal L a ke,
33 miles: Alabam a division, Talladega to Ashland, 32 m iles, acquired
Sept. 1 1906; total Oct. 1907, 498 miles.
(V . 84. p. 1426; V . 80, p. 115.)
Is engaged'in building an extension from M ontezum a. G a ., to Birming
ham . A la ., 261 m iles, with branch from W arm Springs to A tlan ta , 77 m iles.
O f th is, M ontezuma to W a d le y , 132 m ., was operated In July 1907: balance ex
pected to be In 1908. Contract for branch from Bessemer, A l a ., to M ulgay,
14 miles, was let In June 1907. Terminals at Atlan ta and Birmingham and
steamship connection at Brunswick have been secured. The A tla n tic &
Birmingham R y . was merged in April 1906. See V . 82, p. 867; V . 8 3 , p. 35,
1290.
The Georgia Terminal Co. and the Alabam a Terminal R R ., having
$ 1 ,500,000 and $ 3 ,000,000 stock respectively, all owned by the railroad
com pany, will provide terminals at Atlanta and Birm ingham , respectively.
V . 84, p. 1426.
Brunswick SS. Co. operates between New York, Brunswick
and H avana, Cuba.
V . 82, p. 1267; V . 83, p. 35. 1290; V . 85, p. 344, 470.
ST O C K authorized, $25,000 common and $10,000 5 % non-cum . preferred
per mile; par of shares, $100; Issued M ay 1907, $ 1 6,170 ,700 common
and $ 8 ,180,700 preferred. Outstanding in the hands of the public June
1906, $ 9 ,743,800 common and $ 4 ,822,000 preferred Additional amounts
to be deposited under collateral trust notes, see below.
B O N D S .— O f the 5s of 1906 ($30,000 000 authorized Issue), $25,000 are
Issuable per mile of main line and branches, with $10,000 additional for
second track, an amount equal to the par value of prior Hens being reserved
to retire the sam e.
Not exceeding 33 1 -3 % of this aggregate amount m ay
be Issued for equipment and not over 3 0 % for terminals and shop facilities.
Three years coupons were clipped from $1,97 0 ,0 0 0 bonds Issued to retire
preferred stock of old com pany.
In April 1907 $ 7 ,173,000 bonds were
outstanding in the hands of the public. V . 84, p. 1426. Additional
amounts will be deposited under collateral trust notes, which see below.
The collateral trust 5 % notes ($8,000,000) sold in M ay 1906 are a Joint
obligation of the railroad and the Atlantic & Birmingham Construction Co.
and will provide for completion of the road and pay for steamships, equip
m ent, coal and iron purchases, water terminals at Brunswick and shops.
The notes will be secured by deposit of $ 6 ,000,000 A tlanta Birmingham &
Atlantic first mortgage bonds as earned and $4,60 0 ,0 0 0 preferred and $ 10.
000.000 common stock (a majority of both classes) and $1,20 6 ,0 0 0 equip
m ent notes of the R R ., entire stock ($ 3 , 0 0 0 , 0 0 0 ) of Birmingham Coal C o .,
owning 5,000 acres of coal lands, and the Birmingham Iron C o ., owning
30.000 acres of coal and 3,600 acres of Iron ore (the latter subject to a $2,
0 0 0 ,0 0 0 m ortgage), and the entire stock and bonds ($1,000,000 each) of
Brunswick S. S. Co. V . 82, p. 1267; V . 8 3 , p. 3 5 . 1290; V . 8 4 , p. 270.
Equipment obligations Feb. 28 1907, $1,560 ,0 5 5 .
The controlled companies, the Georgia Terminal C o., Alabam a Terminal
R R ., Birmingham Coal & Iron Co. and Brunswick SS. C o., In 1907 sold
$ 3 ,0 0 0 ,0 0 0 , $ 2 ,4 0 0 ,0 0 0 , $ 2 ,000,000 and $ 1 ,000,000 bonds, respectively.
V . 84, p. 1427, 1551; V . 85, p. 470.
L A T E S T E A R N I N G S .— 11906-07...........Gross, $1,595 ,8 6 6 ; net, $386,057
12 m os., July 1 to June 30. J 1905-06...........Gross, 1,128,327- net, 298,587
Report for year ending June 30 HM»», In V. 8 3 , p. 1093, showed on 324
miles, gross, $1,128,327: net. $349,343; other Income, $5,598; Interest and
taxes, $271,082: balance, surplus. * 7 3 .8 5 8 .
President, H . M. Atkinson,
A tlan ta , G a .; Secretary, R . E . Culllnane. Office, Atlan ta, Ga.
Directors— H . M . Atkinson, P. S. Arkwright Morris Brandon, Geo. Dole
W a d le y , G . W . Brine, R . E . Culllnane, H . M. M ilam , F. M . Sisk, W . B .
Stovall, A tlanta; Gordon A b b o tt, Boston; A . D . Russell, Percy R . Pine,
F. L . Eldrldge, New York: W . A . H andley, Roanoke, A la .; Cecil Browne,
Talladega.— (V . 84, p. 270, 1365. 1426; V . 85, p. 39.)
AT LA N T IC C IT Y R R .— Camden to Atlantic C ity, 57 m . (double track)
branches. W inslow Junction to Cape M ay. N . J ., 54 m .; W llllam stow n, 23 m .;
Gloucester, 12 m .; Sea Isle C ity, 12 m .; Ocean C ity, 10 m .; total. 168 miles.
V . 72. p. 1278. S T O C K , c o m ., $ 2 ,625,000; pref., $1,000,000 (par. $50).
Reading Co. owns over 9 9 % of stock, and guarantees consol. 4s, principal
and Interest. Form of guaranty, V . 7 5 , p. 1398. O f the latter, $ 2 ,650,000
are reserved to retire prior lien bonds. See V . 7 3 , p. 81. There are also
outstanding $23,500 Sea Coast R R . series A 5s and $2,834 series B 5s.
For year ending June 30 1906, gross, $1,7 0 6 ,6 4 2 ; net, $333 ,28 0; fixed
charges and taxes, $212 ,95 9: balance, surplus, $120 ,3 2 1 .— (V . 8 2 , p. 750.)
ATLA N TIC COAST LIN E CO.— (See M a p .) — Organized May 29 1889
under the laws of Connecticut, and owns a majority of capital stock and *
large am ount of the bonds of the A tlantic Coast Line R R . below.
S T O C K .— As to certificates of Indebtedness, see editorial O ct. 1897.
Supplem ent, p. 3. V . 65, p. 564; V . 7 1 . p. 1310J I n 18 9 8 $ 5 ,0 0 0 ,0 0 0 stock
was distributed as a 1 0 0 % dividend (V . 67, p. 9 5 4 ), and In 1900 $10,000 ,000
4 % certificates of Indebtedness (Including $ 2 ,500,000 of Atlantic CoM t
Line R R . C o .), also a 1 0 0 % dividend. V . 7 1 , p. 697; V . 7 3 , p . 493. In
1906 stockholders subscribed for $2,100,000 stock at par, raising am ount
outstanding to $ 1 2,600 ,000 .
As to securities pledged to secure equally
the certificates of indebtedness, see V . 71, p. 1310; V . 83. p. 560.
C ASH D IV S .— 1’97. '9 8 . ’99. ’00. ’01. ’02. ’ 03. ’0 4 . '0 5 . ’ 06.
P ercen t.
J3H
4 4^
5 4H «W
8
8
9 10 In c.S p t,7 V,
Balance sheet June 30 1907, V . 85. p. 717. Chairman of Board. Henry
W alters.
Directors, O ct. 1906, V . 8 3 , p. 8 9 0 .— (V . 8 5 , p. 717.)
AT LA N T IC COAST LIN E R R .— (See M a p .) — Operates from Richmond
and Norfolk, V a .. on the north, to Fort M yers, Port Tam pa and River J e t.,
F la ., on the south, and M ontgom ery, A la ., and Augusta G a ., on the weet
O ct ., 1907.
RAILWAY STOCKS AND BONDS.
15
M A P OP T H E
ATLANTIC COAST LINE
1C
RAILWAY STOCKS AND BONDS.
IN T E R E S T OR D I V I D E N D S .
R A IL R O A D S .
For explanation of column headings, & c., see notes
on first page of tables.
M iles
Date
of
of
Road. Bonds.
165
Atlantic & St Lawrence— Stock 6 % rental Grand Tr’ k
1903
Atlantic & W estern— First M $ 3 ,000,000 g o ld ----- IB
'5 3
Augusta & Savannah— Stock 5 % rental Central of Ga
85 1894
Augusta Southern— First consolidated M g o ld ..C e .x c
Augusta Union Station— 1st M $250,000 g old ----- SB
. . . 1903
Avon Geneseo & Mt Morris RR — Stock (see t e x t ) ____
...
Bald Eagle Valley — Stock $ 2 ,6 0 0 ,0 0 0 _________________
‘ 94 1880
1st M originally $400,000 (s f drawn at 100) ..F P .x r
Balt & Annap Short Line— See "Street R ailway” Sec.
Baltimore Chesapeake fit Atlantic — 1st M g O l d .M p.C*
88 1894
Balt & Cumberland Val Ry— 1st M . Interest r e n ta l..
3 1879
5 1879
Balt & Cumberland Val RR — 1st M Interest r e n ta l..
m
B & C V R R Exten — Stock guar ($270,000 carries 7 %)
27 1881
First mortgage Interest rental............... .......................Ba
32 1886
Baltimore & Harrisburg RR— M , g old ___ MeBa.c* . .
15 1888
1st M W est E x t ($16,000 p m) gold guar ..M e B a .c *
__ ___
Baltimore & Ohio— Common stock $ 1 5 2 ,7 5 0 ,0 0 0 ____
Preferred stock 4 % non-cum ulat’eau th $60,000 ,000
Prior lien mortgage gold not subject to call.M e.c* &r 1,076 1898
1,076 1898
do
do
registered____________________
1,657 1898
1st M gold redeemable at 105 after 1 9 2 3 ___U s.c*& r
do
do
registered____________________ 1,657 1898
930 1899
Southwestern D lv 1st M $45,000 ,000 g o ld .F .c*& r
930 1899
do
do
registered____________________
384 1898
Pitts Jet & Mid D lv ($20,000;000) 1st M g ..C e ,c * & r
384 1898
• do
do
registered____________________
P L E 4 W V Sys ref g r e d 100 after 1 9 2 5 ._ U n .c * & r 1,642 1901
1905
New York D iv & Term 1st M $10,000,000 gold--------Conv debenture $15,000 ,000 gold redeem, see text
I I I 1901
Bonds Underlying First Mortgage 3 H %
377 1853
Loan 1853 extended In 1885 g old ____________________
Pittsburgh & Con 1st M extended In 1896 In gold
1868
...
Bonds Underlying Pittsburgh Junction
Middle Divisi on 3 H
144 1886
Cent Ohio $2,500,000 con 1st M (1st loan) g . MeBa.c
116 1869
Sandusky Mans & Newark $2,300,000 1st M -U n .c *
7 1882
Pittsburgh Junction 1st M $ 1 ,440,000 g o ld ..M e .c *
7 1894
Second mortgage $300,000 g o ld .......... ........... )le.c*
a “ Total issued ” shown In first left hand colu m n, b alance
x In addition $7,635 050 are pledeed as part coll aterai for the
Size, or
Par
Amount
Value. Outstanding
Rate
%
When
Payable.
$5,484,000
100,000
1,022,900
400,000
225,000
225,000
1,535,000
292,000
6
5 e
5
5 g
4 g
3 Vi
10
6 cur
1,250,000
48,500
72,800
390,600
230,000
690,000
240,000
152.174 829
60,000,000
172,820,000
j
171,000,000
I
145,000,000
j
i 2:6,175,480
j
31,347,000
See text.
1,000
140,000
5 g
6
6
5 & 7
6
5 g
5 g
6 In 1907
4 In 1907
£ & $100
$1,000 Ac
100
1,000
1,000 &c
100
50
1,000
1,000
500
100 &c
50
1,000
1,000
1,000
100
100
500 &c
500 &c
500 &c
500 &c
500 &c
500 &c
500 &c
500 &c
1,000
500 &c
1,000
113.000
58,000
I
1
J
I
[
1
J
I
3H
4 g
4 g
3H
3^
3H
4 g
4 g
4 g
M
J
J
J
J
J
F
J
&
&
&
&
&
&
&
&
S
J
J
D
J
J
A
J
Where Payable, and by
Whom.
London and Portland.
International Tr Co, Bost
Savannah, Ga.
J P Morgan cc Co, N Y
Safe Dep & Trust Co,Balt
Erie RFt, New York
Broad St Station, Phlla
Fidelity Trust Co, Phlla
M & S Broad St Station, Phlla
J
& J Farm & Mech Bank,Balt
do
do
J
&
J
do
do
J
& J
do
do
J
& J
do
do
M & N
do
do
M & N
M & S C o.’s Office,2 W all S t,N Y
do
do
M & S
do
do
& J
g J
do
do
g
Q— J
A & o
do
do
do
do
Q— J
do
do
& J
gJ
do
do
g
Q— J
do
do
g M & N
do
do
e Q— F
do
do
M & N
J
& D
do
do
do
do
M & S
4 g
4 g
A
J
&
&
1,009,000
1,000
4H g
1,000
638,000
7
1,000!
Q959.000
6 g
l.OOOj
a250,000
5 g
being owined b y Bal tlmore &
Plttsb. L. E. & W Va Sy«t
N et receipts from traffic____ ____ $6,329,501
837.428
Other Income___________________ ____
1 ,836,000
Dividend on L . <Sc N . stock____ ____
$7,976,249
729,934
1,836,000
$8,033,135
593,749
1,683,000
Total net receipts________________ $9,002,929
Interest on bonded debt, & c-----------$5,022 208
Int. on certs, of Indebtedness______
862,76#
Dividend on common stock_______ (6)2,912,256
Dividend on preferred stock ( 5 % ) .
79,830
$10,542,183
$4,862,448
862,792
(6)2,638.800
79,830
$10,309,884
$4,783,427
856,744
(5)2,015,750
86.335
Balance, surplus........ ........................
$125,869
$2,098,312
$2,567,627
O F F IC E R S .— Chairman o f Board, Henry Walters; President. T . M
Emerson: 1st Vice-Pres., Alexander Hamilton, 2d Vice Pres. C. S. Gadsden;
3d Vice Pres., J. R. Kenly: Gen. M an., W N Royall Sec
Herbert L.
Borden; Treas., James F. P o st.— (V . 84, p. 1246; V . 8 5 , p 468, 856.)
AT LA N T IC & D A N V IL L E R Y .— (See M a p Southern R y .)— W est Nor
folk to Danville, V a ., 203 miles, three branches, 22 miles; James River Jet.
M &
J
&
J
&
J
&
Ohio.
cm 4s
lxxxy
.
Bonds--P r i n c ipal. When D ue.
Stocks— Last
Dividend.
Sept
Jan
July
Dec
July
July
Aug
July
1907 3 %
1 1944
5 1907 2J4
1 1924
1 1953
1 1907 I V
1 1907 5
1 1910
Sept 1 1934
July 1 1929
July 1 1929
July 1 1907
July 1 1931
Nov 1 1936
May 1 1938
Sept 3 1907 3 %
Sept 3 1907 2 %
July 1 1925
July 1 1925
July 1 1948
July 1 1948
July 1 1925
July 1 1925
Nov 1 1925
Nov 1 1925
Nov 1 1941
June 1 1948
March 1 1911
0
J
do
do
do
do
Oct 1 1935
July 1 1946
S
J
J
J
do
do
do
do
do
do
do
do
Sept
Jan
July
July
s
AT LA N T IC COAST LINE R R .— (Concluded) —
reaching the ports of Norfolk, V a .; W ilm ington, N . C ., Charleston, S. C.
Savannah and Brunswick, G a ., and Jacksonville and Port Tam pa, Fla.
O R G A N I Z A T I O N .— Originally the Atlantic Coast Line of V a . (change of
name being authorized April 23 1900); April 18 1900 absorbed by consolida
tion (per plan V . 7 0 , p. 840, 893) the following allied properties: W ilm ing
ton & W eldon R R ., Atlantic Coast Line railroads of South Carolina and Vir
ginia, Norfolk & Carolina K R . The Florida Southern and Sanford & S t.
Petersburg were merged in April 1903, the $ 4 ,241,000 Fla. So. 4s and $775,
000 Sanford & St. Petersburg 4s being offered the privilege of exchange for
9 0 % in Atlantic Coast Line consol. 4s.
V . 76, p. 918. 971. The Atlantic
Coast Line Co. (of Conn.) owns $ 2 4 ,257 ,000 common and $ 1 ,009,300 pref.
stock.
See that co. above. V . 70, p. 893; V . 71, p. 1116, 1310; V . 8 3 ,p .560
Savannah Flor. <5s Western R y. (“ Plant System ” ) , which owned and
controlled 2,235 miles, was merged July 1 1902. V . 74, p. 7 74, 829.
The
Jacksonville & Soutnwestern, Mllldale, near Jacksonville, F la ., to Ander
son, 89 miles, was acquired In July 1904, and Is being extended 80 miles,
V . 7 9 , p . 7 3 2 ,2 2 0 4 .
In Oct 1902 acquired $ 3 0,600 ,000 of the $ 6 0 ,000 ,000 Louisville & N ash
ville R R stock for $10,000 ,000 cash, $35,000 ,000 in 4 % collat. tr. bonds
and $ 5 ,000,000 stock.
V . 7 5 , p. 7 33, 7 92. 905; V . 7 9 , p. 785.
Lines owned— (Con.)
M iles.
Lines owned and trackage.
M iles.
Paola Jet. near Sanford to St.
Richm ond, V a . , to Port T am pa.
Petersburg, F la _______________ 145
F l a ........................................................ 906
Palatka, F la ., to Brooksville___ 145
Norfolk, V a ., to South Rocky
89
M o u n t _______________________. . . 1 1 5 Mllldale, F la ., to Anderson____
Contentnea to W ilm ington_______ 105 Branches, & c ____________________ 1,420
Lensed—
M iles.
W ilm ington, N . C ., to Pee Dee
Central R R . of S. Carolina—
J u n c t io n ________________________ 97
Lane to Sum ter, S. C ________
40
Florence, S. C ., to Augusta, G a .. l 6 6
Other lines_______________________
40
Sumter to Colum bia_______________43
Yadkin Jet. (W ilm ington, N . C.)
Total In earnings_____________ 4,333
to Sanford_______________________116
Closely allUd lines— (see each co.)
W aycross, G a ., to Folkston, G a — 34
Jesup, G a ., to Montgomery, A l a .354 a Louisville & Nashville............... 6,319
Brunswick, G a ., to A lb a n y _______169 a Charleston & W est C arolin a.. 3 4 1
71
Dupont Jet. to Fort Myers, F l a . . 349 a Northwest’ n R R . of So. C a r ..
Also owns one-sixth Interest in the Richm ond-W ashington Co. and onehalf Interest In Atlanta (Ga.) Belt Line C o., 5 »■$ miles. Leases, Jointly with
the Louisville & Nashville R R ., the Georgia R R ., 571 miles.
S T O C K .— A t. Coast Line of Va. class A (Rich. & Pet. ctfs.) tax-exem pt
rtock was assumed as so much of the common stock of new com pany.
In N ov. 1902 $5,00 0 ,0 0 0 common stock was given In part payment of con
trolling Interest in the Louisville & Nashville stock. $ 8 ,500,000 additional
being subscribed for as part of the same transaction at $125 per share. In
N ov. 1904 $7,330,000 common stock was issued as a 2 0 % scrip dividend.
V . 79. p. 2204; V . 7 5 , p. 1252.
Stockholders voted Mch. 8 1906 to Increase the total authorized stock to
$ 6 0 ,000 ,000 : of the new stock (all com m on), $4,557,600 was subscribed for
b y stockholders at par In M ay 1906, raising amount of common stock out
standing to $48,5 3 7 ,6 0 0 . V . 83, p. 490, 1295.
The preferred stock ($18,850,000) was in 1902 m ostly exchanged for 125 %
In 4 % certificates of Indebtedness. V . 7 5 , p. 1252.
D IV I D E N D S ( % ) —
’00. '01. ’02. ’03. ’04. ’05. '0 6 .
1907.
Common (Including Class “ A ” ) ___ _____2 H 3 H 5
5 a 5
6
6
Preferred (M. & N .) .......... ................ 2 H 5 '
5
5
5
5
5
5
a Also 20 % in common stock scrip and 5 % in Atlantic Coast Line Co. 4 %
certificates of Indebtedness. V . 81, p. 1558.
B O N D S .— First consol. 4s of 1902 ($80,000,000 authorized, limited to
$20,000 per mile) are a first lien on about 958 miles of road and a blanket
lien on 2,927 miles owned, subject to the underlying bonds. The first
consols are issued or reserved as follows;
Issued for refunding. & c., V . 7 5 . p. 76; V . 7 7 , p. 1872; V . 78.
p. 819; V . 81 p. 2 6 3 ..................................................................................... $ 4 7 ,322 ,450
Reserved to take up underlying Hens_______________________________ 2 8 .673,850
Reserved for extensions, Improvements and equipm ent_________
4 .0 0 4 ,3 0 0
A mortgage for $ 2 ,000,000 was authorized In N ov. 1904 to acquire the
Jacksonville & Southwestern, Mllldale, near Jacksonville, F la., to Ander»on, 89 miles, and to extend the road 80 miles. V . 81, p. 1559.
A s to the $ 3 5 ,000 ,000 collateral trust 4s of 1902, see “ Organization”
above.
They are subject to call at 105 In am ounts not less than $100,000.
In 1907 Issued $ 4 ,500,000 4 % equipment trust notes; also $5,00 0 ,0 0 0
5 % straight 3-year gold notes. V . 84, p. 2 19, 506
The W ashington & Vandemere 4 )4 s ($1,500,000 authorized, of which
$720,000 outstanding) are guar., p. &
by endorsement. V . 84, p. 1246.
L A T E S T E A R N IN G S . — U 9 0 7 _______ Gross, $4,0 0 5 ,1 8 6 ; net, $524,233
2 m os., July 1 to A u g. 3 1 ./1 9 0 6 _______ Gross, 3 ,7 4 7 ,9 5 7 ; net, 644,610
R E P O R T for the year ending June 30 1906 was given at length in V . 83,
p .1287, 1295(see also editorial, p. 1263). Estim ated resultsfor 1906-7 were:
1906-07.
1905-06.
1904-05.
Gross rece ip ts........................... - ............$ 2 6 ,771 ,528
$24,868 ,448
$22,222.902
Operating expenses and taxes______ 20 ,4 4 2 ,0 2 7
16,892,199
14,189,767
[V ol.
1
1
1
1
1930
1909
1922
1922
to Claremont (3-feet gauge), 51 miles; total, 275 miles. Leased to Southern
Ry. from Sept. 1 1899 to July 1 1949 for taxes, repairs, maintenance and
oash rental sufficient to cover Interest charges, with prl\ liege of renewals for
terms of 99 years.
In addition the Southern R y agrw * to pay the sam e
rate of dividends on common stock as paid on Its own common stock. V . 7 1 ,
p 447: V . 7 9 , p. 625.
ST O C K .— C om ., $ 2 ,1 8 0 ,0 0 0 . Pref. shares were canceled prior to July 1
1904
See V 71. p. 181 . 862: V 7 3 . p. 722. 956: V 79. p 625
B O N D S .— Of the $4 ,4 2 5 ,0 0 0 4s of 1900, $500,000 can be Issued only for
Improvements upon request of Southern R y ., Interest charges to be covered
by increased rental.
Of the $1.525,000 second 4s remaining, $750,000 will
be issued July 1 1909. V . 7 7 , p. 195.— (V. 79, p. 7 85, 967 )
A T LA N T IC & G ULF SHORT LIN E — See V . 73. p. 615: V . 76 p. 1354.
AT LA N T IC & L A K E SU PERIO R R Y .— In July 1904 operated Metapedla
Quebec to Paspebiac, 100 miles (Bale des Chaleurs Ry ): owned St. Gregolre
to NIcolet. 7 m .: St. Francis to Yam aska. 6 m .; Yam aska to Sorel, 10 m .;
Lachute to St. Andrews 7 m .; total, 130 miles. W as under construction.
Paspebiac Jet. to Port Daniel, 21 m .; Pierrevllle to NIcolet. 15 m .; St. Gre
golre to Chaudlere Jet.. 67 m.
The reorganization plan filed Mch. 1907, given In V . 84, p. 929, V . 85, p .9 7 ,
provided for issue of $750,000 preference. $1,250,000 ordinary and $500,000
deferred certificates of participation in exchange for £ 500 .00 0 A . & L. S.
and £ 4 0 9 .0 0 0 B. des Ch: bonds, &c.
See also V . 82, p. 1039; V . 85, p. 2 2 0 .
468.
In July 1907 the Atlantic Quebec and W estern R y ., it was under
stood, arranged to purchase the road. V . 83, p. 1522; V . 85, p. 97.
During year 1903 04 road was operated by trustee for bondholders. Stock
authorized, $10,000 ,000 : par. $100; Issued, $2,6 0 2 ,5 0 0 . Bonds outstanding
as collateral, £ 5 0 0 ,0 0 0 4s. For year ending June 30 1904. gross $57.346; net,
$1 1,663. Pres., Hon J. R . Thibaudeau: Sec., Edgar N . Armstrong, Mont
real.— (V . 84. p. 929; V . 85, p. 9 7 , 220, -)68.)
ATLANTIC & NORTH C A R O L IN A R R .— Beaufort to Goldsboro, N . C ..
98 miles; New Bern to Bayboro, 17 miles; total, 115 miles. State of
North Carolina owns $1,26 6 ,5 0 0 of $ 1 ,797,200 stock.
Leased from Sept.
1904 to Jan. 1 1996 to Atlantic & North Carolina Co. (the lease being
later transferred to Norfolk & Southern Ry.) for Interest on bonds, taxes,
& c., and dividends at 3 % yearly for 20 years, increasing 4 % yearly every
ten years until 5 % is reached: thereafter 6 % ; lessee also agrees to expend
$250,000 by Sept. 2 1907 for improvements and equipment. V . 7 9 , p. 967.
D IV ID E N D S .—
'9 3 . ’9 4 . ’ 95. ’96. '97. ’98. ’ 99. 1900-04. Under lease.
Per cent.
2
2
0
2
2
2
2
0
see above.
E A R N IN G S .— For year ending June 30 1906, gross, $ 4 0 7 ,6 9 4 ; net,
$154,739; other income, $ 7,246, in t., taxes, & c., $105 ,60 7; dividends,
$53,916; bal., sur., $ 2,462. Pres.. Frank S. Gannon.— (V. 83, p. 1 5 9 0 .1 5 2 2 .)
ATLA N TIC QUEBEC & W ESTE R N R Y .— V . 83, p. 154; V . 84 p. 6 9 2 .
ATLA N TIC VA LD O STA & W ESTERN R Y .— See Georgia So & Fla. R R .
AU G U STA & S A V A N N A H R R .— Mlllen to Augusta, G a .. 53 miles. In
1895 re-leased to Cen of Ga for 101 yrs. at 5 % on stock.— (V 6 1 . p 23#.)
AU G U STA SOUTHERN R R .— Owns from Augusta to Sandersvllle. Ga.
80 m ., and Sandersvllle & Tennllle R R ., 4 m. The Southern R y. In Jan.
1901 acquired about four-fifths of the stock
V . 73. p. 343. Com. stock,
$400 000: pref.. $350,000: par $100.
Year ending June 30 1906. gross.
$166 ,72 7; deficit under operating, $8,356; total deductions, $ 2 6 ,8 9 1 ;
balance, deficit, $ 3 5 ,2 4 7 .— (V. 80, p. 2219. 2456.)
A U G U S T A UNION STATION CO.— Owns union passenger station at
A ugusta, G a ., used by all roads entering the city, the latter under their oper
ating contract providing for Interest on the bonds and 4 % dividends on
stock Stock, $75,000 (5 % paid In). held equally by Southern R y . . Atlantic
Coast Line R R . and Georgia R R V . 78. p 2333: V . 7 9 , p. 500. President,
Thos. K . Scott: Sec. and Treas., Carlton Hlllyer.— (V. 82 p. 48.)
AU STIN & NOR TH W ESTERN R R .— See Houston & Texas Central R y .
AVON GENESEO & MT MORRIS R R .— Mt. Morris to Avon. N. Y . . 18
m.
Leased to Erie R R . Feb. 26 1896 In perpetuity; rental (after 1 9 0 1 ),
3 H % on stock.— (See V . 63, p. 512; V . 62. p .318. 589.)
B A LD EA G LE V A L L E Y R R .— Owns from Vail Station. P a ., to Lockhaven. P a .. 51 m .: branches to Sugar Camp. & c.. 43 m. Leased to Penn.
R R . Co. for 99 years from Dec. 7 1864. Rental. 4 0 % of gross earnings.
Cash dividends of 10 % yearly (F .& A .) are paid: on May 1 1906 a 9 % stock
dividend was paid. V . 82, p. 867
Penn. R R on .Jan. 1 1907 owned
$769,800 stock and In Sept. 1907 had obtained over 9 0 % of the remaining
stock under Its offer of 3 shares of its stock and $50 cash for each share of
Bald Eagle stock. V . 85, p. 98, 344. 721.
B ALT. & AN N AP O LIS SHORT LINE RR.— See Street Railway section.
BALTIM O R E C H E S A P E A K E & AT LA N T IC R Y .— Owns Claiborne to
Ocean C ity. M d ., 87 m .; branch, 1 m .; total, 88 m .; from Claiborne to Balti
more 44 m . transfer Is made by water: steamer lines owned. 1.131 m .; total
mileage owned and operated, 1.219 m . Controlled by Penn. R R . and allied
lines. V . 69. p 5 4 1 .5 9 0 ;V 59. p. 371.
Pref stock $1,500.000 5 % cu m .;
common, $ 1 ,000,000.
Div. on pref., 2 % , Mch. 1 1905; in 1906, M ar., 3 % ;
Oct. 2 % ; in 1907, Mar., 3 % ; Sept.. 2 % .
The stockholders voted on Jan. 26 1905 to acquire a majority of the stock
of the Maryland Delaware & Virginia R y .. extending from Queenstown,
M d., to Lewes, Del., with branches, a total of 77 m ., and guarantee $ 2 ,0 0 0 ,0 0 0 of Its first m ort. bonds. See that C o .,V 80. p. 116, 1058
Flo al year now ends Dec. 31
Report for year endme Dec. 31 1906 In
V . 84, p. 1302, showing gross, $910 ,01 3; net, $220 ,60 1; other Income,
$14,696 ; interest and taxes, $ 78,861 ; Improvements, $40,000 ; dividend on
preferred stock ( 5 % ) , $7 5 , 0 0 0 : bal., de f., $33,563 — (V . 84 p. 1302.)
BALTIM O R E & C U M B E R L A N D (R R . AN D RY )— The Rall.oad ex
tends from State Line, M d., to Waynesboro, Pa. 4.55 m .; stock $76 70^, in
$50 shares. The Railway extends from Edgemont. M d.. to Statv Line. l*a.,
3 .u stock. $ 4 2,500 . In $100 shares. Both are leased to Western Maryland
RR for 50 years from July 1 1879, with privilege of renewal or purchase:
renral Interest on bonds.
BALTIM O R E & C U M B E R L A N D V A L L E Y E X TE N SIO N R R .— W ayn es
boro to Shlppensburg. P a .. 26.52 m . Leased to Western Maryland R R . for
50 years from July 1 1881. with privilege of renewal for Interest on bonds
and dividend on stock, amounting in all to $ 38,730 . See table above and
V . 7 5 , p . 6 65.— (V . 7 5 . p. 665.)
17
RAILWAY STOCKS AND BONDS.
O ct ., 1907. J
18
RAILWAY STOCKS AND BONDS.
I N T E R E S T OR D I V I D E N D S .
R A IL R O A D S .
or explanation of column headings, & c., see notes
on first page of tables.
[V ol.
M iles \ Date
of
of
Road .\Bonds.
Size, or
Par
I Amount
Value. JOutstanding
Rate
%
When
Payable.
Where Payable, and by
Whom.
lxxxv.
\Bonds— P rinci
pal, When D u*.
Stocks— Last
Dividend.
Baltimore & Ohio (Concluded) —
Virgin ia 4 j
Bonds Underlying Pittsburgh Lake Erie <Jfc West
192 1893
$1,000 $5,000,000
O C o.’s Office,2 W all S t .N Y Oct 1 1933
Clev Lor & Wheel cons M (now 1st) g o ld ._ U s m .c *
5 g
do
do
192 1896
1,000
890.000
June 1 1936
General mortgage $ 1 .000,000 gold red 1 0 5 ____ N.c
5 g
do
102 1900
Jan 1 1930
do
1,000
950.000
Con ref M $ 1 0,000 ,000 gold red at 102 H - - Ta.c*
4H g
do
N oy 1 1995
do
Cleveland Term & Valley 1st M gold gu ar__M e.c*& r
88 1895
1,000
3.302.000
4 g
do
30 1889
do
M onongahela R lv R R 1st M gold guar & & O .-C e .c *
1,000
700.000
Feb 1 1919
5 g
do
March 1 1950
72 1900
1.000
do
Ohio & Little K an R y 1st M $250,000 red 105 gold
228.000
5 g
do
172 1886
June 1 1936
do
1.000
2,000,000
Ohio River first mortgage ($2,000,000) gold__F P.c*
5 g
do
209 1887
do
April 1 1937
General mortgage ($3,000,000) gold 1st on 39 me*
1,000
2.941.000
5 g
do
33 1890
Aug 1 1920
do
R av Sp & G1 1st M $400,000 g guar p & lFP.c*
1,000
376.000
6 g
do
do
H untington & Big S 1st M ($400,000) gold guarc*
11 1892
1,000
303.000
July 1 1922
6 g
do
do
R ipley & Mill Creek 1st M g gu p & 1 endorsedc* &r
13 1888
Aug 1 1908
1,000
50.000
6 g
do
do
77 1882
Pittsburgh Clev & Tol 1st M g ________________________
1,000
Oct 1 1922
441.000
6 g
D First N at B k, Allegheny June 1 1917
Pittsburgh Newcastle & L E 1st M extended In gold
30 1878
100 &c
82,100
4 g
jj J P Morgan & Co. N Y •July 1 1917
215 1887
Pittsburgh & W estern 1st cons M $10,000 ,000 g . .c *
1.000
765.000
4 g
JiCo’s office, 2 W a ll S t.,N Y Jan 1 1922
3 1892
Ellwood Short Line first mortgage g $ 3 0 0 ,0 0 0 .- 0
1,000
300.000
5 g
176 1890
O'
do
do
W V a & P 1st M gold 5s scaled; red at par._M eB a.c*
1.000
April 1 1990
4.000.000
4 g
Leased Lines, E tc., Securities
Balt & New York R R 1st M gold gu ar____ M eBa.c&r
N
do
do
i . ooo '
M ay 1 1939
5 H 1889
50.000
5 g
D Am er Bonding & Tr.B alt Dec 1 1945
M on River Coal M $1,500,000 gold s f redeem at par
1895
1.000}
766.000
5 g
Schuylkill River E S R R 1st M gold guar p & 1 end
12 1903
D|................................................... June 1 1925
1,000
5.000.000
4 g
11 1883
Staten isl Rapid Tran 1st M $ 1 ,000,000 g $ or £ . Use*
O Foot W hitehall S t, N Y
Jan 1 1913
1,000
1.000.000
6 g
New mortgage $ 5 ,0 0 0 ,0 0 0 _____ ___________________
1905
See text.
Staten Island R y 1st M $ 1 ,000,000 g old_______Me.c*
1893
"ilo o o
511 000
& D) New York C ity.
June 1 1943
4H g J
Baltimore & Ohio Equipment Obligations—
Ground rent liens, mlsc car trusts, etc, June 1907 .
1,477,416
Baltimore & Potomac— See PhUa Balt & Washington
Bangor & Aroostook— Stock, see t e x t _________________
100
2.342.000 4 In 1907
July 12 1907 2 %
&
J Checks mailed.
211 1893
1943
First mortgage ($16,000 per mile) g old _________ Q.c*
1,000
3.360.000
&
J Guar Trust Co, New York Jan
5 g
1945
Second mortgage g o ld ............... ................................... Usm
211 1895
July
1,000
112.000
do
do
&
J
5 g
1943
Jan
First mortgage Piscataquis D lv $1,500,000 g .-Q .c *
77 1899 I
1,000
do
do
1.500.000
& O
5 g
33 1899 '
Jan
1943
V Bur Extension 1st mortgage $500,000 g o ld ..Q .c *
1 ,0 0 0
500.000
& O
do
do
5 g
1947
Aroostook Northern 1st M $225,000 g o ld ____ Q.c*
1,000
do
do
Oct
225.000
&
O
15 H 1897
5 g
Consol refunding mortgage $20,000 ,000 gold.O B .c*
412 1901
1 000
6.187.000
&
J Brown Bros, N Y ; & Bost. July 1 1951
4 g
28 1907
Medford Extension 1st M ., $1 ,0 0 0 ,0 0 0 , g o l d .. Us.c*
M ay 1 1937
1,000
1 , 000 ,000
do
do
M & N
5 g
Aroostook County bonds (assum ed)............._ ................
’9 2 - ’95!
728.000
1,000
Various. Fourth N a t. B k . Boston Sep 12-July 15
4*
* All except $21.000 owned by Baltimore & Ohio.
B A LT IM O R E & H A R R IS B U R G R R .— Em ory Grove, M d ., to Orrtanna,
Of this Issue $6,17 5 ,4 8 0 is In hands o f the public and $ 7 ,6 3 5 ,0 5 0 pledged
P a .. 59 m .. with branches 7 m .. total, 66 m . Leases Balt. & Harrisburg R y ..
as part collateral for Pitts. Lake Erie & W est V a . System 4s.
W estern extension, Orrtanna to Hlghfleld, 1 5 m . , guaranteeing Interest on
Note. — The underlying bonds still outstanding In July 1907 are In table
its bonds.
Leased to Western Maryland R R . for 50 years from O ct. 25
at top of page. The underlying stocks still In the hands of the public ag
1886; rental, interest on bonds and 5 % on preferred stock (all paid M . & N .)
gregated $21,327 par value.
S to c k , com m on, $690 000: pref., $ 2 9 .1 0 0 .— (V . 4 4 . p. 812.)
(5) Pittsburgh Lake Erie & West Virginia System mortgage refunding 4 %
BA LT IM O R E & O HIO R R .— {See M a p .) — R O A D .— Operates from B al
gold bonds (authorized am ount $75,000,000) are a lien on 1.642 miles
timore to Philadelphia and Baltimore to Chicago, Cincinnati and St. Louis,
total mileage leased, owned and operated in July 1906, 4,006 miles. ‘ ‘ R oyal consisting of the Ohio River, Cleve. Lorain & W heeling, Pittsburgh & W est
ern. & c., forming a direct connection with Pittsburgh, Cleveland, Falrport,
Blue Line” (see Central R R . of N . J.) gives access to New York.
Lorain and Sandusky, subject to underlying bonds outstanding thereon
The system embraces, subject to mortgages, the following lines:
(see table abo ve). In Sept. 1905 $29,0 6 0 ,9 5 0 additional underlying bonds.
P r. lien 3 M % M . — (1.076m .) M ile s \Pittsburgh & W estern _________ a21
Including $ 7 ,635,050 Pittsburgh Junction & Middle Division 3>$s. were
___
77
B alt, to W heeling, Belpre, 0..& C .7 2 1 P lttsb. Cleveland & Toledo
held in trust as part security. O f the total Issue of bonds, $ 3 2 ,785 ,000 are
53
C um b. to P lttsb. & W ., & c _______ 355 Plttsb. Palnesv. & Falrport____
reserved to retire underlying bonds and the remaining $ 1 0 ,868 ,000 are Issu
Eastern O h io _____________________
17
1st M . 4 % .— (581 miles)
able for additions and Improvements. See full statem ent, V . 7 4 , p . 266; V
11
B alt, to Phlla. and branches_____ 137 Trumbull & M ahoning___________
7 9 . p. 2793; V . 80, p. 1423.
30
C hicago, 111., to Akron, O ________ 378 Monongahela River R R _________
92
Branches to Fairm ont, W .V a .,& c 66 Clev. Terminal & V a lle y ________
(6) The 4 % debentures of 1901 are convertible at the option of the holder
Cleve. Lorain &, W heeling R y
South W . D U . 3 H % M . —
Into common stock at par on 30 days’ notice (see V . 7 3 , p. 1159): they m ay
Wheeling to Cleveland, & c___ a l9 5
B elp re.O ., via Clncin. to S t.L .,& c 9 3 0
be called for payment at par and Interest on any Interest day, In the Inverse
Ohio R iver R R . Lines—
Pitts.Jct. 3 M % M .— (384 miles)
order of their numbers. V . 72, p. 282; V . 7 3 , p. 337, 1158: V . 7 5 , p. 549.
Benwood to W heeling, & c____ a265
Bellalre to Midland C ity, O _____ 1
(7) New York Division and Terminal 1st 4s (authorized am ount, $ 10,58
Shawnee to Sandusky . O ________ j 377 W est Virginia Short Line R R ___
000,000) are secured by deposit with the trustee of all the Staten Island
Pittsburgh Junction R R _________
7 Ohio & Little Kanaw ha R R ____
74
Rapid Transit refunding 4s as Issued ($5,000,000 authorized) .all the $350,000
P .L .E .& W .V .S y s .4 % A f.(x l,6 4 2 m )
Balt. & N . Y . 1st 5s and the entire stocks of those companies.
O f the
W est Virginia & Pittsburgh_____ 176 Total of all (adding Baltimore
bonds $5,000,000 were issued on June 30 1907 but held in the treasury, the
Belt and other lin es)________ 4,4 6 2
balance being reserved for the further equipment, development and exten
x Includes 384 m .. also covered b y P itts. Jet. 1st M . a See this com pany.
sion of the Staten I. properties, including B alt. & N . Y . R y . V . 83, p. 1042
H I S T O R Y .— Receivers were appointed in Feb. 1896, but on July 1 1899
the road proper was returned to the com pany, the reoiganlzatlon plan (In V .
L E A S E D L I N E S .— Schuylkill River East Side 5 % bonds were purchased
6 6 , p. 1235) having been consummated without foreclosure and the road
Dec. 1 1903 at 110, per V . 68, p. 4 0 , and $ 5 ,000,000 new 4s issued, guaran
vastly improved in physical condition. The B .& O. Southwestern was reor
ganized. per plan In V . 67. p. 6 88. the consol, m ortgage of 1893 having been teed p. and 1., by endorsement. V . 7 7 , p. 1745; guaranty. V . 81, p 727
The W est VIrginla& Pittsburgh (see agreement In V . 67, p. 1310 ), has been
foreclosed.
In 1900 new securities were Issued under the plan of reorganiza
operated since Sept. 1 1899 under a 99 years’ lease, for 4 % on the mortgage,
tion of the Cent. Ohio and other lines. V . 67, p . 6 8 8 ,1 2 0 6 ,1 3 5 6 .
In May
to be appropriated to paym ent of bond Interest, the B. & O. having the op
1906 the holdings of Consolidation Coal stock were sold. V . 82, p. 1039.
tion for 5 years to purchase the bonds at par and accrued Interest on 60
The com pany received permission to pay off the $ 1 5,140 ,000 Chic.TTerdays’ notice. V . 69, p. 439.
minal Transfer 1st 4s, which were called and redeemed M ay. 3 1907. V . 84,
The B. & O. acquired at 125 $ 1 ,956,000 of the $ 2 ,400,000 Pittsburgh
p . 867 9 30, 1113; V . 85, p. 98.
Cleve. & Toledo bonds. V . 7 0 . p. 632; V . 7 6 , p. 47..
R E A D IN G C O ., & c.— In 1901 $ 6 8 ,565 ,000 (virtual control) of the $ 140 ,000,000 Reading Co. stock, consisting of $ 1 2 ,130 ,000 first p re f., $28,530 ,000
F IN A N C E S .— In Sept. 1901 the authorized Issue of common stock was In
second pref. ana $ 2 7 ,905 ,000 c o m ., was acquired, the Lake Shore & Michi
creased from $45,000 ,000 to $ 6 0 ,0 0 0 ,0 0 0 , to provide for conversion of $ 1 5 ,gan Southern R y . Co. (Vanderbilt system) taking about one-half. In 1904
000,000 debenture 4s Issued In March 1901 for Improvements. &c. (V . 7 2 . p.
the B . & O . and L . S . & M . S. each sold $ 3 ,950,000 of the com m on. V . 7 6 , p.
282 3 3 7 ). In July 1907 $ 1 4 ,860 ,000 debentures had been converted. Stock
101; V . 80. p. 1856. In 1903 a one-sixth Interest In $6,92 4 ,2 0 0 o f the $ 1 1 ,holders In 1901 subscribed to $ 2 2 ,537 ,200 additional common stock at par,
000,000 Hocking Valley R y . com . stock was acquired. V . 7 7 , p. 1225; V . 7 9 ,
(V . 7 3 . p. 1159; V . 7 4 , p. 150, 2 6 6 ). and In 1902 to a fu rth er $42 ,3 1 6 ,8 6 0 . at
p . 2746; V . 8 3 , p. 37.
sam e price, with $ 2 0,533 ,000 applicable to equipment, $9 ,3 2 9 .0 0 0 to double
P E N N S Y L V A N I A R R . I N T E R E S T .— The Pennsylvania R R . Co. pur
tracking between Newcastle and Akron and miscellaneous construction,
chased a large Interest in 1900-01 and on Jan. 1 1907 owned directly $ 1 4 ,and the remaining $12,4 5 4 ,0 0 0 to acquire stock, bonds & c.. to be placed
273.600 pref. and $5,725,000 com . stock; also— through the Northern Cen
under Pitts. Lake E . & W . V a . System m tge. V . 75. r>. 549, 980.
tral and Phlla. B. & W . (each owning one-half)— $2,000,000 pref. and $2,Stockholders In April 1906 subscribed for $27,460,^69 new com . stock
097,400 com . stock, and through the Pennsylvania Co. $ 5 ,000,000 pref. and
at par, the proceeds to be used for construction. Improvements and equip
$ 13,4 5 1 ,2 0 0 com . stock. V . 70, p. 76: V . 7 4 , p. 528; V . 7 8 , p. 1276.
In
ment and the redemption of $ 8 ,915,000 collateral trust notes due May 1
Sept. 1906 the Penn. R R . sold about $32,334,200 com . and $ 7 ,2 0 6 ,4 0 0 oref.
1906, raising the amount outstanding to $ 1 5 2 ,17 4,80 0.
V . 82, p. 867, 927;
B . & O. stock held (approximately half Its total stock holdings), the Union V . 83, p. 4 9 1 , 1042.
Pacific system (Oregon Short Llpe) purchasing sam e. V . 8 3 , p. 5 6 2 , 686
In 1905 dividend on common was raised to 5 % and In 1906 to 6 % .
1036; V . 8 4 . p. 5 0 , 569.
A s to Reading Co. dividend Increased In 1905; see that com pany.
S T O C K .— Authorized Issues: Com m on, $ 1 5 2 ,7 5 0 ,0 0 0 , see “ General F i
Earnings of July 1907, based on 4,006 miles, entire system , except—
nances” below; pref. 4 % non-cum ulative, $ 6 0,000 ,000 ; outstanding, see ta
Valley R R . of Virginia, Ravenswood Spencer & Glenvllle. OM o * Little
ble above and “ General Finances.” Pref. stock dlvs. are limited to 4 % .
Kanaw ha, Cleveland Terminal & Valley, Cleveland Lorain & Wheeling.
(See V . 71 p. 1166 . and editorial. p. 1143; V . 72, p. 1188.)
D IV I D E N D S .— 1900. 1901. 1902. 1903. 1904. 1905. 1906.
1907. '
E A R N I N G S .— 3 m o s .,1 1 » 0 7 .- - ...G r o s s , $22,4 4 1 ,2 6 1 ; net, $7,399,051
Common ( % ) ____
2
4
4
4
4
4> $5> $
6
July 1 to Sept. 30.
J1 9 0 6 . . . . ..G r o s s , 20 ,8 0 3 ,7 8 3 ; net, 7,535,406
Preferred ( % ) ___
4
4
4
4
4
4
4
4
In 1906, on c o m ., M ch.. 2>$% ; S e p t., 3 % .
V . 82. p. 1436.
A N N U A L R E P O R T .— Report for year ending June 30 1907 was In V . 85,
B O N D S .— (1) Prior Lien 3 H % . a first lien on main line and branches,
p . 9 9 9 , 1108.
(See also editorial, p. 976.)
Average rate per ton per
Parkersburg branch and Pittsburgh division, about 1.076 miles o f first track
mile, 5.70 mills In 1906-07, against 5.60 mills in 1905-06; average revenue
and 1,325 miles of second, third and fourth tracks and sidings, and also all train-load, 433 tons, against 420 In 1905-06.
the equipment now owned of the value of upwards o f $ 2 0 ,0 0 0 ,0 0 0 , or here
1 904-05.
1905-06.
1903-04.
• 1906-07.
after acquired. Total authorized, $ 7 5 ,0 0 0 ,0 0 0 , of which $5,00 0 ,0 0 0 to be
Issued only after Jan. 1 1902 (at not exceeding $ 1 ,0 0 0 ,0 0 0 a year) for the Miles
4,026
4,030
3,987
4.006
enlargement, betterment or extension of the properties covered. See appli
$60,002,204
$50,607
,087
$48,617,104
.$64,625,946
cation to list, V . 69. p. 30; V . 7 8 , p. 1906.
13.817.141
13.701,698
13,146.449
. 14,147,117
(2)
First Mortgage 4 % Oold Bonds, D ue July 1 1948, but subject to call. M all, express. & c----------3 .688,153
3.265,769
3 ,307.528
3 ,4 7 0 ,8 5 9
In whole or In part, after July 1 1923, at 105; a first lien on the Philadelphia,
Chicago and Akron divisions and branches and the Fairmont Morgantown &
.$82,243,922 $ 77,392 ,056 $67,689,997 $ 65,071,081
Pittsburgh R R .. covering about 581 miles of first track and about 573 miles
49,515,221
44.710,603
43.628,864
54.880,091
Operating expenses
o f second, third and fourth tracks, and sidings; also on the B . & O . Terminal
property and the Baltimore Belt R R . They are also a lien, subject to prior
$27,363,831 $27,876,835 $22,979,394 $21.442,217
Net earnings___
lien m ort. upon main line, &c. See app. to list, V . 6 9 , p. 30; V . 7 9 , p. 211
3.271,840
2,535.409
2.276,160
3,785,965
Other Income (net)______
Total authorized (lncl. $49,9 7 5 ,0 0 0 Issued at reorganization) ..$ 1 6 5 ,0 0 0 ,0 0 0
O f which reserved to retire prior lien bonds in 1 9 2 5 _________ _ 75,00 0 ,0 0 0
Total net Income____ $3 1,149 ,796 $31,148 ,675
Issued and Issuable for betterment or extension of the prop
$9,627,851
$9,978,143
Interest and rentals____ $ 1 0 ,8 2 8 ,6 9 9 $10,558 ,036
erties covered by mortgages (1) and (2), or for extensions,
1.305,510
1,376,885
Taxes ..................................
1,7 5 9 ,7 9 5
1,448,364
additions or equipment; at not exceeding $1 ,5 0 0 ,0 0 0 a
427,656
485,778
M isc. im p 'ts, & c___. . .
1 ,1 1 5 ,6 7 2
1,077.975
year for the first four years and at not exceeding $ 1 ,000,000
2 ,000.000
2.500.000
Additions & lmprov’ t s . .
3.0 0 0 ,0 0 0
3,000,000
a year thereafter, originally_____________ . . . --------------- . . . .
2 7 ,000,000
2
Dlvs on pref. stock (4 % ) 2 .400.000
2,400,000
2.400.000
z.4uu.0(>u
z .400,000
. 4 uu,uui>
(3) Southwestern Division 1st Mortgage 3 H per cents. Virtually
Divs on com . s t o c k .(6)9,130,190 ( 5 ^ ) 6 .8 5 1 .4 7 4 (4 ^ )5 .5 9 2 .0 4 2 (4)4.970,482
a first lien upon the properties constituting the B . & O.
Southwestern R R . system , or the securities representing the
Balance, surplus______x$<2,9 15,440 x $ 5 ,812,830 x $ 3 ,181,954 x $ 2 .986 ,878
sam e, covering about 930 miles of first track track and about
401 miles o f second track and sidings. Total Issue____________
4 5 ,0 0 0 ,0 0 0
x Surplus differs from that shown in pamphlet report, owing to m ethod
(4) B . & O. Pitts. Jet. A M id . D iv. 3 H per cents. Expected to
of charging common stock dividend, the above being used for sim plicity.
be ultim ately a first lien upon the railroads of the Cent. Ohio
Executive Committee— Oscar G . Murray, Chairman; G . F. Randoipn.
system and P itts. Jet. R R . C o ., 385 miles in all. Total au
J R Foard. N . B . Ream and Samuel Rea; Pres., Oscar G. Murray;
thorized Issue In no case to exceed--------------------------------------------- 20,0 0 0 000
1st Vice-Pres., Geo. F. Randolph; Sec., C. W . W oolford; Treas. J. V McO f which to be Issued only at the rate o f not exceeding $1,N eal.
0 00,000 per year for the first two years and thereafter at the
Directors— R . Brent Keyser, John P . Green, Samuel R ea, Joseph R .
rate of not exceeding $500,000 per year, for the enlarge
Foard. Geo. F . R a n d o lp h , James Speyer, Edward H . H arrlm an. Norman B
m ent betterment or extension o f the properties covered.
5 ,000,000
R
ea
m . Charles Steele, James Stillm an, Edward R . Bacon.
O f which In partial exchange for old b o n d s ..____ . . . . . . . . . .
1 0 ,569.000
New York office, 2 W all S t .— (V . 85, p. 999 1 0 08 )
Sold to a syndicate for cash r e q u i r e m e n t s ...... . .
’ ‘ >00,000
O ct ., 1907.]
RAILWAY STOCKS AND BONDS.
19
MAP OF THE
BANGOR & AROOSTOOK
RAILROAD AND CONNECTIONS.
RAILWAY STOCKS AND BONDS.
20
R A IL R O A D S .
F or exp anatlon of column headlrujs, A c ., see notes
on first page of tables.
Bangor & Aroostook— (Concluded)
Nor Maine Seaport 1st M guar p & 1____ U sm .c*& r
Car trusts Ser B $40,000 due A & O y e a r ly _______ G
Car trusts Ser C g guar, $45,000 duesem l-an .P e P .c *
Car trusts ser D g guar $45,000 due sem l-ann. Pe Pc*
Bangor & Portland— First mortgage gold______________
Beaver & Ellwood— First mortgage g o ld _______________
Beech Creek— Stock (guaranteed 4 % by endorsement)
First mortgage gold guar p & 1 (endorsed) ..K .c & r
Second M for $ 1 ,000,000 gold guar p & 1 (end) Un.c&r
Clearfield Bltum Coal 1st M lnt guar b y Bh Cr gold .c
Beech Creek Exten— 1st M $4 500,000 g guar o& l G.c*
Beech Creek consol M $ 2 0,000 ,000 g o ld ___G .c*&r
Bellingham Bay & Brit Col— 1st M $1,00 0 ,0 0 0 gold S f
Belt Line Ry of Montgomery— 1st M lawful m o n e y ..c
Belt RR & Stock Yard of Indianapolis— S to c k _______
Preferred stock, cum ulative___ ______ _________________
First mortgage for $ 1 ,000,000 c u r r e n c y ..._________
Belt Ry of Chattanooga— First M g o l d . . .. .. M e B a .c *
Belvldere Delaware— -Stock ($ 4 ,0 0 0 ,0 0 0 )--------------------Consolidated} guaranteed by United C o.’s sinking f d . .r
mortgage ^guaranteed by United Co.’s sinking f d . . r
of 1875
1Issue $600,000 reduced by sinking fun d.r
$ 4 ,000,000 Jguaranteed by United C o.’s sinking fd .c *
Berkshire— Stock 6 % rental...................................................
Bessemer & Lake Erie— Erie equipment trust________
Locomotive equipment tru st_________________________
Standard Equipm ent T ru st..................................................
Birmingham Belt— See St Louis & San Francisco
Birmingham Terminal— 1st M $3,000,000 gold guar----Blrm Col & St And— First M $4,50 0 ,0 0 0 gold_Ce.c*& r
Bloomsburg & Sullivan RR— First M $ 4 0 0 ,0 0 0 ___ FP
Second mortgage income non-cum $ 2 0 0 ,0 0 0 ____ FP
Boca & Loyalton— First M $675,000 gold call 1 1 0 . .c*
Boonville St L & South Ry— 1st M gold $ 1 ,000,000-C *
Boston & Albany— Stock ($30,000,000 a u th orized )..
Bonds (not mortgage) guaranteed principal & ln t .c
Bonds (not mortgage) $ 5 ,000,000 ____________________
Bonds $ 2 ,500,000 currency............................................ —
M iles Date
of
of
Road.Bonds.
I N T E R E S T OR D I V I D E N D S .
S h e , or
Amount
Par
Value. Outstanding
Rate
%
When
Payable.
lxxxv.
Where Payable, and by
Whom.
Bonds— P r in c i
pal, When D u * Stocks— Last
Dividend.
$1,000
1905
9 6 - ’00
1,000
1906
1.000
1907
1,000
8 0 - ’86
100 &c
.3 1899
50
163 . . . .
1,000
163 1886
1,000
163 1892
100 &c
1891
59 1901 1,000 &c
1905 1,000 &c
1,000
A ll 1901
1,000
1 1890
__
50
50
...
1881
1,000
1,000
25 1895
50
....
1,000
81 1885
1,000
1887
1,000
81 1893
1,000
81 1903
___ . . . .
100
___ ____
1,000
1,000
1,000
A
& O
$ 4 ,259,000
5 g
240,000
A & O
5 g
810,000
J
& D
5 g
A
& O
855,000
5 g
320,000
J
&
J
6 g
150,000
J
& J
4 g
6 ,000,000
4
Q— J
5,000,000
J
& J
4 g
1,000,000
J
& J
5 g
732,000
4 g
J
&
J
3,500,000
3 H g !A & O
3 ,964,000
A & o
4 g
659,000
J
& D
5 g
6
200,000
J
& J
1,000,000 See text. J
&
J
500.000
6
Q— J
6
M & N
1,000,000
275,000
5
J
&
J
1,253,000 10 In ’07 Y early
500,000
4
M & S
F & A
749,000 81 4
4
500.000
J
&
J
1,000,000
&
J
3H g J
6
1,078,700
Q— J 15
1,220,000
5
M & S
150.000
5
M & S
5
1,060,000
A
& o
Brown B ros,N Y ,B os& P h
Guar Trust Co, N Y
Brown Bros.N Y& B oston
do
do
90W est S t. N Y
Guaranty Trust Co, N Y
Grand Cent Station, N Y
do
do
do
do
Knickerbocker T r u s t.N Y
Grand Cent Station, N Y
do
do
U S M & Tr Co, N Y ; &SF
Metropolitan Tr Co, N Y
C o .’s Office, Indianapolis
do
do
W H N ew bolds, Phlla.
Mercantile Tr & D ep,Balt
Broad St S ta t’n, Phlla
do
do
do
do
do
do
do and Bk C o m ,N Y
Stockbrldge, Mass.
H om e Tr Co, H obok , N J
do
do
do
do
April 1 1935
To July 1 1 0 1 #
To June 1 1916
To April 1 191T
1930 -19 36
July 1 1919
O ct 1 1907 1 X
July 1 1936
July 1 1936
Jan 1 1940
April 1 1951
April 1 1955
Dec 1 1932
Jan 1 1910
July 1 1907 6 * .
Oct
I 1907 1 H
April 30 1911
July 1 1945
Mar 1 5 ’ 07 10 %
Sept 1 1925
Feb 1 1927
Jan 1 1933
Jan 1 1943
O ct 1907 1
March 1 1922
March 1 1913
April 1 1925
___
...
30
30
56
44
392
...
...
...
1,500,000
4 g
(?)
5 g
5
364,100
199,600
5
667.000
6 g
400,000
6 g
25,000,000 See text.
3,858,000
3H
3,627,000
4
1,000.000
s
&
&
J
&
J
&
J
& o
& A
Q— M
A & O
A & O
J
&
J
New Y o rk
F I T & S D Co, Phlla
Reg Bloomsburg ,wh earn.
U S M & T r, N Y ; & SF
Amer Exch Bank, N Y
Office, Term S tat’ n, Bost
do
do
Office, Term . S ta ., Bost
do
do
Mch
1 1957
July 1 1935
Jan 1 1928
Jan 1 1928
April 1 1923
A ug 1 1911
Sept 30 ’07 2
April 1 1952
Oct 1 1913
Jan 1 1951
54
...
___
___
__ __
„_
11)(>7
1905
1898
1898
1903
1881
1902
1893
1901
1,000
100 &c
100 &c
1,000
1,000
100
1,000
1,000
1.000
B AN QO R & AROOSTOOK R R .— (See M a p .) — O ldtow n, M e., northerly
to Van Buren, with branches; total, 467.4 miles, viz.
Lines leased—
M iles.
Lines owned—
M iles
Oldtown to Van Buren_________ 221.7 Northern Maine Seaport, La
Grange to Searsport__________54.1
Ashland Jet. to Fort K en t____ 94.9
Milo Jet. to Greenville__________48.8
B ra n ch es_______ _________________55.21
Total June 30 1907--------------------4 74.7
In Dec. 1906 a branch from Sebools Lake to the junction of the St. Francis
and St. John River, 145 miles, was proposed. V . 84, p. 50, 157.
Branch
from Millinocket to East Millinocket, 8 miles, was opened Jan. 1907.
A
low-grade cut-off is building from a point 4 miles south of W e st Seboeis to
Le Grange, 28 miles. V . 84, p. 692.
In Sept. 1907 the Northern R y . of
Maine was Incorporated with $510 ,00 0 stock to build about 61 miles, con
necting the three northern termini. Van Buren, Fort Kent and St. Francis.
V . 85, p. 920.
O R G A N IZ A T IO N .— Organized Feb. 13 1891. State of Maine refunds
95 % of all taxes levied.
For organization see V . 66, p. 855.
Owns entire
stock of and leases for 999 years Northern Maine Seaport R R ., which In
N ov. 1905 opened extension from La Grange, M e., to Searsport, on Penob
scot B ay, 54 miles. V . 81, p. 1549; V . 84, p. 693.
S T O C K .— $ 2 ,342,000, as increased from $1,550,000 in June 1907 to ac
quire stocks of Northern Maine Seaport and Schoodic Steam R R s., pay for
permanent Improvements and floating debt; 23,320 shares full paid and 100
shares 5 % paid. V . 84, p. 1549.
D IV ID E N D S .— 1 ) 4 % semi-annually, Jan. 1-904 to Jan. 1905, both In
clusive; July, 2 % ; 1906, 4 % ; 1907, 4 % (J&J).
B O N D S .— As to gold 5s on Plscat. D vision, see V . 67. p. 1159; V . 68, p.
8 4 , 329.
Van Buren Extension 5s of 1899, V . 69. p. 952. Of the consol, re
funding gold 4s, $12,500 ,000 were reserved to pay off the outstanding
bonds, Including those of controlled roads car trusts and preferred stock,
and to acqu're such controlled roads: $ 3 ,000,000 for Improvements over a
series of years and $4,500,000 for extensions at $25,000 per mile, Including
equipment. V . 73 p. 286, 896; V . 7 4 , p. 93. The Northern Maine Seaport
bon ds.of which $4,259,000 Issued ($5,000 0 0 0 authorized), are guaranteed.
V . 81, p. 265; V . 82, p. 392; V . 8 4 , p. 391, 692; form of guaranty, V . 8 1 ,p . 727.
In March 1907 the $1,000,000 Medford Extension first 5s were sold to pay
for 28-mile cut-off under construction. V . 84, p. 692.
L A T E S T E A R N IN G S .— J1907.................. Gross, $507 ,33 6; net, $153,458
2 month-;, July 1 to A ug. 3 1 .1 1 9 0 6 ________ Gross, 426,4 9 3 ; net, 139,202
Surplus over charges, $ 14,315 , against $12,542 in 1906.
A N N U A L R E P O R T .— Report for year ending June 30 1906 was in
V . 83, p. 1094.
In 1906-07, gross, $3,2 2 1 ,6 9 6 ; net, $ 1 ,0 8 8 ,4 0 1 ; charges,
$ 7 94 ,30 1; other Income, $ 2,191; betterments, $99,626 ; dividends ( 4 % ) ,
$71,8 4 0 ; b al., sur., $124 ,82 5.
In 1905-06, gross, $ 2 ,4 9 6 ,5 4 7 ; net, $951 ,87 7.
— V . 8 5 . p. 158, 6 5 3 ,9 2 0 .
B AN QO R & PO R TLAN D R Y .— (See M a p Del. Lack. A W est.)— Portland
to Bath Pa. 29 miles; Nazareth Jet. to Martin's Creek 5 m ; other branches
5 m .; total, 39 m . Stock, $510 ,00 0, all acquired In 1900 by Del. Lack. &
W e st. R R . Dividend, 1900, 6 % ; 1901, 5 % ; 1902, 4 % ; 1903, 7 % ; 1904, 8 % ;
1905, 15 % ; 1906, 20 % .
For cal. year 1906, gross, $294 ,61 5; net, $129,187;
charges, $26,872; div. ( 2 0 % ) , $102,000; b a l., sur., $315.
BATH & H AMMON DSPORT R R .— Bath, N Y . to H am m ondsport, N .
Y . , 10 miles Control acquired by Erie R R In 1903.
In 1904 foreclosure
under $100,000 first m tge. was pending.; second m tge., $200,000. Stock,
$100 ,00 0.
Year ending June 30 1906, gross, $37,979; net, incl. other in
com e, $15,653; int. and taxes. $16,267; add’ns and lm p’ts, $2,851; bal., def.,
$ 2 ,9 6 4 .— (V . 79, p. 1954.)
B E A V E R & EL W OOD R R .— Ellwood Jet. to Hazen Coal Mine. P a .. 3 m .
Leased to Pitts. & L. Erie R R for 20 years from May 1 1899, rental being
4 5 % of gross earns.; rental in 1906, $12,031 . Stock, $150,000; par, $100.
BEECH C R E E K R R .— (See M aps N . Y . Central A H ud. R .R R ) — R O A D .
— Jersey Shore, P a ., to Mahaffey 112 m .; branches to Phillpsburg, to mines,
& c., 55 miles; total, 167 miles.
L E A S E . & c.— From Oct. 1 1890 leased to the N . Y . Cent. & H ud. R Iv.
R R . for 999 years at Interest on bonds and 4 % on stock, and since May 1
1899 operated directly as a part of Its Pennsylvania division. V . 68, p. 872.
Carries mostly coal and coke See guaranty V . 52 p. 570. The bonds are en
dorsed with New York Central’s guaranty of principal and Interest. See
V . 52 p 5 70.— (V 7 5 . p. 1398.)
BEECH C R E E K E X T E N S IO N R R .— (See M a p s N . Y .C e n t. A Hud RIv )
— Clearfield. Pa. to Keating. 52.1 miles; Rosslter to Rosslter J et., 3.2 m ;
M cElhattan to Browns. 1.2 m . Curwensvllle to Bower. 15.8 m .; Mahaffey to
Arcadia 13 1 m . Harmon to Boardman. 13 m .. branch to Irvona. 16 .3 m ,;
3 other branches, 11.5 m .; total, 126.2 miles. A low-grade coal line leased
to N . Y . Cent. & Hud. RIv. R R . (which owns entire $ 5 ,179,000 stock) for
999 years from June 1 1905, bonds being guaranteed, prln. & Int.
O f the
consols, part is reserved to retire, dollar for dollar, old bonds. V . 8 0 , p.
1174, 1479; V . 81, p. 30; form of guaranty, V . 8 2 , p. 1267.— (V . 81, p. 30;
V . 8 2 , p. 1267.)
B E L L IN G H A M B A Y & B RITISH C O L U M B IA R R .— Bellingham to G la
cier. W a sh .. 44.16 m ; branch from Hampton to Lynden, 5.31 m .; spurs,
10.16 m .: yard track and sidings,7 .56 m .; total, 67.19 m . S to c k ,$ 1 ,0 0 0 ,0 0 0 ,
all owned by New York and San Francisco parties. Loans and bills pay
able June 30 1907, $228 ,00 0.
Year ending June 30 1907, gross, $260 ,98 8;
net $97,887 ; other income, $2,1 1 8 ; int. and taxes, $ 53,288 ; b a l., sur.,
$46,7 1 7 .
Pres., H . H . T aylor.— V . 81, p. 840.
BELT LINE R Y . OF M O N T G O M ER Y.— Owns real estate and a belt line
in M ontgomery, A la .. about one mile of track on Tallapoosa, Bell, Perry and
Columbus streets. Atlantic Coast Line R R . pays an annual rental of $15,6 31. Atlantic Coast Line R R . owns about 92 % of the $200,000 stock, par,
$100.
Year ending June 30 1906, gross, $20,596; net. $14,976 ; bond
Interest. $12,000; bal. sur.. $2,976.
BELT R A IL R O A D & STOCK Y A R D OF IN D IA N A P O L IS .— Owns 14
miles of belt road, etc. Leased for 999 years to Ind . Union— which see.
V ol.
M
J
J
J
A
F
D I V I D E N D — I Preferred In |Com . *97. ’98 t o ’0 2 ' 0 3 . ’ 0 4 . ’05. ’06. 1 9 0 7 .
Since 1894
/f u ll t o d a te .| s tk % 0
5 yearly 6 H 7
8
8
11
In 1907, on com m on, J an ., 5 % (incl. 2 e x .); Ju ly, 6 % (Incl. 3 ex >
V . 84, p. 1549.
Pres., S. E . R auh, Indianapolis, In d .— (V . 7 7 , p. 2389; V . 8 1 , p. 1 0 9 9 .)
BELT R A I L W A Y (OF C H A T T A N O O G A , T E N N .)— Owns 25 miles o f
belt railroad In Chattanooga. Tenn. V . 67. p. 72.
Leased till July 1 1945 to Alabam a Great Southern R R .: rental guaranteed
to meet interest on first mortgage bonds, taxes and maintenance.
ST O C K
Is $300 ,00 0, owned by Alabam a Great So. R y. There are also $24,000 2d
Inc. 4s, due 1945, redeemable at par; coup, paid Jan. '01 to July '06 Incl.
B E L V ID E R E D E L A W A R E R R .— Owns from Trenton, N . J ., to Manunka Chunk, N . J ., 67 miles; Flemlngton R R ., & c ., 14 miles; operated cu t-off,
1 mile; total operated, 81 miles.
Leased to United Companies, and trans
ferred to Pennsylvania R R . March 7 1876.
Net earnings paid as rental.
S T O C K .— Authorized, $ 4 ,0 0 0 ,0 0 0 ; outstanding Jan. 1906, $1 .2 5 3 .0 0 0 ;
par, $50.
Dividends: 1897 to 1906, both inc., 5 % yearly; 1907, M ch ., 1 0 % ,
B O N D S .— All of the outstanding bonds are secured by the consolidated
mortgage of 1875 for $4,0 0 0 ,0 0 0 ; sinking fund. 1 % of outstanding bonds.
If earned. The Issues of 1885, 1-887 and 1903 are guaranteed by the U nited
New Jersey R R . & Canal Co. Guaranty. V . 7 6 . p. 918.
E A R N IN G S .— In 1906, gross. $1,626 ,6 5 2 ; net, $373 ,03 2; other Incom e,
$47,535 ; Interest, taxes, & c.. sinking fund and other charges, $ 1 8 9 ,9 5 9 ;
dividends ( 1 0 % ) , $125,300; surplus, $10 5 ,3 1 0 .— (V . 84, p. 748.)
B EN NIN GTON & R U T L A N D R Y .— See R utland R R .— (V . 7 0 , p. 6 8 5 .)
B E R K S H IR E R R .— W est Stockbrldge, M ass., to Connecticut State L in e,
21 miles; Vandeusenvllle, M ass., to Pittsfield, 22 miles; total. 43 miles. A
consolidation In 1905 with Stockbrldge & Pittsfield and W est Stockbrldge
RR.
V . 80, p. 2219.
Leased April 1 1893 for 99 years to N . Y . N . H . t$
H . R R . for expenses, taxes and 6 % on stock, paid Q-J. 15 at Housatonlc
National Bank, Stockbrldge. Mass.
Lease to Housatonlc R R . suspended,
not canceled. Stock, $ 1 ,0 7 8 ,7 0 0 .
(V . 8 0 , p. 2219.)
BESSEM ER & L A K E E R IE R R .— Leases Pittsburgh Bessemer & L a k e
Erie R R ., Bessemer, near Pittsburgh, P a ., to Conneaut Harbor, Lake Erie,
e t c ., with branches, a total of 209 miles, for 999 years from April 1 1901;
owns 31 miles; total, 240 miles. V . 72, p. 137. Authorized to operate a
railroad from a point of connection with the Pittsburgh Bessemer & Lake
Erie at or near Kremls Station, P a ., to a point on the Jamestown & Franklin
R R . near Salem Station, Pa. Stock, authorized, $500 ,00 0. Controlled by
the Carnegie Co. and so by U . S. Steel Corporation. Guaranty of M arquette
& Bessemer Dock & Navigation bonds, V . 7 7 , p. 1228; V . 7 6 , p. 1358;
V . 82, p. 160.— (V . 82. p. 160.)
B IR M IN G H A M & AT L A N T IC R R .— Talladega to Coal C ity, A la ., 3 t
miles; branches. Rogans to ore beds, 9 miles, and Furnace to Welslngers,.
3 miles; total, 43 miles. Stock. $ 1 ,0 0 0 ,0 0 0 , all com m on; par of shares
$100.
Bonds, $500,000 forty-year first 6s. due N ov. 1 1931 ($1,000 each).
Interest, payable M. & N ., in default.
Year ending June 30 1906. gross,
$31,851 : def. under op er., $9,848; bond interest, not paid.
President.
Sidney H . March; Sec. and Treas., John Carlsen, 25 Broad S t .. New Y o rk .
B IR M IN G H A M T E R M IN A L CO.— Has under construction passenger
terminals at Birmingham, A la .
Stock
al! owned by the Illinois
Central, Southern R y ., Seaboard Air Line, Central of Georgia, St. Louis &
San Francisco and Alabam a Great Southern, which jointly guarantee the
bonds.
O f the bonds ($3,000,000 authorized) $ 1 ,500,000 are reserved fo r
additional properties. V . 83, p. 1227; V . 85, p. 4 0 4 .— (V . 85, p. 404.)
BLO OM SBU RO & S U L L IV A N R R .— Owns Bloomsburg to Jamison C ity ,
P a ., 30 miles. Stock Is $600 ,00 0; par. $50. V . 66, p. 80. 952.
Year
ending June 30 1907: gross, $117,278; net. $62,31 ; other Income, $ 2 ,1 8 1 ;
Interest, taxes, & c., $5i),859; balance, surplus, $ 1 3 ,6 3 3 .— V . 66, p. 80, 9 5 2 .)
BOCA & LO Y ALT O N R R .— Owns from Boca, on Central Pacific m ain
line, northwesterly via Loyalton to Beckwith, 40 miles; 6 miles additional
main line and 10 miles of branches; total, 56 miles. The Denver & RioGrande on June 30 1907 owned $ 1 ,504,500 of securities of com pany and
affiliated companies.
Stock, $ 1 ,2 0 0 ,0 0 0 ; par of shares, $15.
Bonds cover also Roberts Lum ber
C o .’s property, comprising 52.769 acres of pine lands, water works, etc.
Mercantile Trust Co. of San Francisco Is mortgage trustee. They are sub
ject to call for sinking fund at 110 and Interest. V . 76 p. 1191. Earning®
for year ending July 31 1904: Railroad, gross, $ 1 4 5 ,1 2 6 ; lum ber, gross
$ 2 2 8 , 0 8 8 ; total, $373,214; total net. $14 6 ,3 1 0 .— (V . 81. p. 667.)
B O O N V IL L E ST. LO U IS & SO U TH ER N R Y .— Boonville to Versailles,
M o., 44 miles. Leased to Mo. Pac. till July 1 1910 at annual rental o f
$2 5 ,0 0 0 , taxes, expenses, etc. Stock, $250 ,00 0; par of shares, $125.
BOSTON & A L B A N Y R R .— Owns from Boston, M ass., to A lbany. N . Y . .
200 miles; numerous branches, 104 miles; leased lines, 88 miles; to ta l
operated. 392 miles.
A consolidation of December 1867.
Leased In 1900 for 99 years to the New York Central & Hudson River R R .
for guaranteed rental of 8 % per annum on the $25,000 ,000 stock, payable
quarterly (March 30, e tc .), organization expenses. Interest on bonds, ta x es,
expenses of maintenance, etc. The B. & A . received for certain property
not Included In the lease $ 5 ,500,000 In N . Y . Central 3 « % 100-year deben
tures, thus adding .77 % per annum to 8 % guaranteed on stock. See lease
In V . 69. p. 282; V . 69, p. 1061, 1102, 1246; V . 70. p. 74; V . 71. p 6 45.
963.
Bonds of 1901, $ 2 ,5 0 0 ,0 0 0 , were for terminal facilities at B oston, o f
which $ 1 ,000,000 Issued. V . 7 1 , p. 1218; V . 7 2 , p. 44; V . 75. p. 752.
D IV I D E N D S .— Cash dividends at the rate of 8 % yearly were paid for
m any years prior to the lease. Since 1900 8 M % . viz .: 2 % each In M a r c h
and September. 2 H % In June, and 2 X % In December.
E A R N IN G S as reported to State Railroad Commission b y lessee:
Year—
Oross.
Net.
Other Inc I n t. .dlvs. .A c.
Balance.
1906-07
$12,097,301 $ 7 ,193,104 $392,141 $ 3 ,557,796 d e f.$ l,2 2 2 551
1905-06
11,205,074
3 ,446,452 415,419
3 ,851.068
sur. 3 1 0 ,8 0 5
— (V . 74, p. 150, 629; V . 75, p. 732, 1301; V . 83, p. 686; V . 85. p. 863.)
21
RAILWAY STOCKS AND BONDS.
OCT., 1907.
RAILWAY STOCKS AND BONDS.
22
I N T E R E S T OR D I V I D E N D S .
R A IL R O A D S .
For expl nation of column headings, &.C., see notes
on first page of tables.
Boston & Lowell— S to c k ___________
Bonds 20 years not m ortgage____
Bonds
do
do
____
Bonds
do
do
____ Boston & Maine
Bonds
do
do
____ gives a rental
Bonds
do
do
____ guaranty for 99
Bonds
do
do c * . .
years.
Bonds
do
do c* . .
____
Bonds
do
do
Bonds
do
do
____
Bonds
do
do
c ____
_____
Bonds
do
do
.
Boston & Maine— Stock, com m on and scrip_______OB
Preferred stock 6 % non-cum ulatlve......................O B
Im provem ent bonds s f not mortgage or subj to call
Bonds (not mortgage) for improvement & r e f-.c & r
Bonds not mortgage g old _________ ...........................c&r
Bonds exchanged for Fitchburg stock (V. 70. p. 175)
Bonds not mortgaged $1,000,000
Bonds ($ 2,000,000, not mortgage
Bonds not mortgage (20 year)
Bonds (not mortgage) currency
Portsmouth Great Falls & Conway 1st M assumed .
N otes, $3,000,000 ___________ _____
N otes. $4 000 000
___
Boston & Providence— Stock 10 % guar 99 yrs Old Col
Bonds, not m ortgage. ___________ _________________ c
Boston Revere Beach & Lynn— S to c k ________ ______
..................SB.c*&r
First mortgage $1,000,000 gold
Boston Terminal Co— First mortgage cu rrency.O B.c& r
Bruce Mines & Al— 1st M $250,000 guar p & 1 red .
Brunswick & W estern— See Atlantic Coast Line R R .
Buffalo Cr.— Con(now lst)M $1,000,000 g Int as rent.c
Buffalo New York & Erie— See Erie Railroad.
Buffalo Rochester & Pittsburgh— Common s to c k ..T r
Pref stock non-cum com m on 6 % then pro ra ta _.T r
R & P 1st M gold Rochester to Salam anca____ Un.c
Date
M iles
of
of
Road. Bonds.
___ 1889
__• 1892
___ 1893
___ 1895
___ 1896
___ '9 7 - ’98
’9 9 - ’01
___ 1903
1905
1906
1907
___
___
___
___
___
___
___
73
1887
1892
1894
1900
1901
1903
1905
1906
1877
1907
1907
Size, or
Par
Amount
Value. Outstanding
$100
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
1,000 &C
1,000
1,000
1,000
1,000
1,000
1,000 &c
500 &c
'1 7
1897
1897
1902
100
1.000
100
1,000 &c
1,000 &c
500
6
1891
1,000
___
_
108
____
100
100
1.000
'6 8
’ ’9
’8 8 -’ 93
1881
BOSTON & L O W E L L R R .— R O A D .— Owns Boston to Lowell, 26 miles;
branches— Salem and Lowell, 17 miles; Lowell and Lawrence, 12 miles;
others, 45 miles; Middlesex Central, 11 miles; leases— Connecticut & Passum pslc, 146 miles; Nashua & Lowell, 15 miles; Peterborough, 10 miles;
Northern N . H ., 83 miles (and subsidiary lines 90 m iles); Stony Brook R R ..
13 miles; W ilton R R .,1 5 miles. Leases m ostly assumed by Boston & Maine.
L E A S E S .— Leased In 1887 for 99 years to the Boston & Maine at 7 % per
annum on.stock till Jan. 1 1897 and 8 % thereafter.
ST O C K A N D B O N D S .— Stock authorized, $ 6 ,8 4 9 ,4 0 0 , being Increased
$250,000 In Jan. 1 9 0 7 . The debentures were described on i>age 2. SU PP .
of April 1895.
In March 1907 $325,000 20-year 4s dated Ju ly 1 1907 were
sold to retire the bonds maturing on that date. V . 85, p. 39.
BOSTON & M AIN E R R .— R O A D .— The system with Its m any branch
lines covers the territory from B oston, M ass., to Portland, M e. (two divi
sions), Springfield. M ass., Sherbrooke, C an., Rotterdam Jet. and T roy,
N . Y . , W orcester M ass., to Portland, M e., and all Important places In New
Hampshire.
a See this com pany.
Lines owned.
M iles.
Lines leased— (Concluded.)
M iles.
Boston, M ass., to Portland, M e.,
F itch b u rg ________________________ a458
Nashua & Low ell________________ a l5
via Western D ivision_________ 115
Boston to Portland, Eastern D ly 108 Worcester Nashua & Rochester. a94
Connecticut River R R ___________ a81
Conway June., M e., to North
73 O th e r _____________________________
72
Conw ay, N . H _________________
9
Portsmouth Electric R y ________
18 Trackage r i g h t s _________________
Portland, M e., to Rochester,
N . H ...................................................
54 Total operated July 1 1 9 0 7 .. ..2 ,2 8 8
2d track (3d & 4th track 10)
521
N o. Cambridge Jet. to North
am pton. M ass_________________
96 Controls Maine Cent, (which see) 931
Sundry b ra n ch e s________________ 148
St. Johnsbury & Lake Cham p. 131
Lines leased.
York Harbor & Beach___ ____
11
Boston & Low ell_________________ a469
Verm ont V a l l e y _______________
24
Concord & M ontreal____________ a478
Sullivan C ou n ty _______________
26
O R G A N IZ A T IO N , E T C .— An agreement with New York New H aven &
Hartford regarding division of territory was made In 1893, V . 5 6 , p. 464.
In June 1907 the New York New Haven & Hartford acquired
$ 1 0,994 ,800 (about 3 8 % ) of the stock, which was exchanged, share for share,
for stock of tnat company, but further purchases ceased on passage of the
“ anti-merger law ,” which prevents consolidation prior to July 1 1908.
V . 84, p. 1365; V 85, p. 3 9 , 160, 863.
S T O C K .— Stockholders In Au g. 1906 subscribed for $ 3 ,633,700 of
the stock at $165 per share, to be paid In full Sept. 1 1906, or option
ally In four equal installments on Sept. 1 1906, June 29 1907, Aug.
31 1907 and Dec. 31 1907, the proceeds to be used on account of proposed
expenditures aggregating $ 8 ,7 0 0 ,0 0 0 , Including $ 5 ,000,000 for equipment.
& c., raising amount outstanding, when fully paid, to $ 2 8 ,271 ,790 ; about
$ 2 ,8 0 0 ,0 0 0 remaining available for sale as required. V . 81, p. 899, 974,
1174; V . 82. p. 1378; V . 83, p. 154, 491; V . 85, p. 859.
D IV ID E N D S .] ’87. '8 8 . ’ 81 . ’90. ’91. ’ 92. ’9 3 . ’9 4 -’ 98. ’ 99. 1 9 00 -0c t0 7
On common
i 10 9
9
94 9
8
8
6 yearly 6 4 7 % yearly
B O N D S .— A s to debentures see issue of April 1895.
In March 1906 $ 1 0 ,0 0 0 ,0 0 0 20-year 4 % currency bonds dated Sept. 1 1906
were sold to refund and pay bonds and notes maturing Sept. and Oct. 1906
and for other necessary purposes. V . 81, p. 974, 899, 1174; V . 82, p. 567;
V . 83, p. 36.
The Railroad Commissioners in Oct. 1906 granted authority
to issue $152,000 bonds to purchase the Danvers R R . and $306,000 bonds
to acquire the Newburyport R R . V . 83, p. 322. Stockholders on Oct. 10
1906 authorized $500,000 bonds to provide for payment of bonds maturing
in 1907, &c. V . 83, p. 817.
Stockholders were to vote Oct. 6 1907 on
authorizing not to exceed $ 6 ,000,000 bonds to pay floating debt and for
improvements.
V . 85. p. 792, 860.
Notes payable June 30 1907, $ 3 ,7 0 0 ,000.
In Jan. 1907 $ 3 ,000,000 one-year notes were sold, of which $ 1 ,000,000
each dated Jan. 15, Feb. 1 and March 1 1907, and In Sept. 1907 $ 4 ,000,000
one-year notes. V . 84, p. 101; V . 85, p. 792.
Boston & Maine guarantees $1.32 8 ,0 0 0 first 5s of St. Johnsbury & Lake
Champlain.
Also Interest on $274 ,00 0 Manchester & Lawrence 4s. Jointly
with Maine Central guarantees $300,000 Portland Station bonds.
A N N U A L R E P O R T .— Annual meeting second Wednesday In October.
Annual reoort 1906-07 In V. 85, p. 8 59, showed results as follows:
Year ending June 30.
1907.
1906.
1905.
Miles operated June 3 0 ________________
2,288
2,287
2,287
Passenger departm ent________________ $1 3 ,584 ,164 $ 1 3 ,291 ,584 $12,530,472
Freight departm ent................................... 25 ,3 6 7 ,9 3 8
2 3 ,847,550 2 1 ,808,070
Malls, express. & c.....................................
2,1 7 3 ,1 5 4
2 ,075,069
1,874,703
Total gross earnings..............................$ 4 1,125 ,256 $39,214 ,203 $36,213,245
Net earnings.................... - .............. . .. $ 1 0 ,1 5 6 ,8 5 9
$9,860,834
$9,593,505
N et, Including other Income__________$ 1 0 ,861 ,218 $10,482 ,919 $10,181 ,094
I n t e r e s t ________________________________
1,445,512
1,474,670
1,486,169
R e n ta ls ............................................................
5 ,1 1 2 .8 9 0
5,074,554
5 ,069.578
T a x e s ................................................................
1 ,674,836
1,745,490
1,605,490
D iv id e n d s ____ ________________________
1,973,332
1,834,646
1,806,646
Sinking f u n d ____________ ______________
28,785
136,285
136,285
Balance, su rp lu s...................................
$132,615
$217,273
$76,926
O F F IC E R S .— Pres.. Lucius T uttle: 4th Vice-Pres, and General Auditor
W . J. H obbs; Treas.. Herbert E. Fisher
Office, Boston.
Directors— Lucius Tu ttle, Richard Olney. W alter Hunnewell, Boston:
Joseph H . W h ite, Moses W illiam s, Brookline, M ass.; L. C. Ledyard,
Henry F . Dlm ock, C. M. Pratt, New York; Samuel C. Lawrence, Med
ford: A . W . Sulloway, Franklin. N. H .; W m . W hiting, H olyoke, M ass.;
Alexander Cochrane, Boston.— V . 85, p. 859, 8 63, 020.)
BOSTON & PR O VID EN CE R R — Owns Boston, M ass., to Providence
R. I ., 44 miles: branches 20 miles.
Leased 99 years. April 1 1888, to Old
Colony R R .; rental 10% |yearly on stock.
In June 1907 a law was signed
permitting consolidation with Old Colony R R .
V 84, p. 1487.
[V ol.
Rate
%
When
Payable.
Where Payable, and by
Whom.
$6,599,400
8
J
& J A t Office, Boston
A & O
do
350,000
4
do
do
1,000,000
4
A & O
do
do
1,000,000
4
F & A
do
do
500,000
4
M & S
do
do
do
750,000
4
J
&
J
A & O
do
414,000
4
do
do
939,000
J
&
J
do
34
do
M & N
do
250,000
34
do
500,000
M & S
do
34
do
4
500.000
M & N
do
do
4
325,000
J
& J
do
2 8 ,291,790 7 in 1907
A t Off,Causeway St.B ost
Q— J
do
3,149,800
6
M & S
do
do
F & A
do
1,919,000
4
do
do
4
F & A
2,500,000
do
do
& J
6,000,000
44 BJ
do
do
5,454,000
J
&
J
3 g
do
do
1,000,000
M & N
34
do
do
2,000,000
J
&
J
34
do
500,000
F & A
do
34
do
4
do
10,000,000
M & S
do
1,000,000
J
& D
do
44
do
3,000.00i'
5
do
Various
do
6
do
4 ,000,000
Q— J
Boston Term , R oom 424
4,000,000
10
y—J
do
2,170,000
4
J
&
J
do
J Office, or checks mailed
850,000 See text. J
&
850,000
&
J State St Trust Co, Boston
44 g J
14,000,000
State National B k, Bost
Text
34
150.000
J
& D Knickerbocker Tr C o ,N Y
5 g
lxxxv.
Bonds— Princi
pal, When D ue.
Stocks— Last
Dividend.
July 2 1907 4 %
April 1 1909
April 1 1932
Feb 1 1913
March 1 1915
July 1 1916
Oct 1917 & 1918
1919 & 1921
May 1 1923
Sept 1 1925
Nov 1 1926
July 1 1927
Oct 1 1907 1 H
Sept 3 1907 3
Feb 1 1937
Aug 1 1942
Jan 1 1944
July 1 1950
Nov 1 1921
Jan 1 1923
Feb 2 1925
Sept 1 1926
June 1 1937
•Tan-Mch '08
Oct 1 1908
O ct 1 1 9 0 7 2*$
July 1 1918
July 1 1907 3 %
July 15 1927
Feb 1 1947
June 1 1952
J
&
J Farmers L & T r, N Y
Jan
10,500,000 See text. F
6,000,000 6 in 1907 F
1.300.000
6 g
F
&
&
&
A 36 W all Street, N Y
A
do
do
A
do
do
Aug 15 1907 2 4
Aug 15 1907 3 %
Feb 1 1921
1,000,000
5 g
1 1941
BOSTON R E V E R E BEACH & LY N N R R — Owns narrow-eauee road
from Lynn to East Boston, Mass., 9 miles, connecting with Boston by com
pany’s ferry-boats; W inthrop Division, East Boston to W lnthrop, 5 m iles.
O f the 4 ^ s of 1897 balance unissued is for improvements. V . 65, p. 68
V . 83, p. 379. Notes payable July 1 1907, $290,000.
D IV I D E N D S ! 1888-91 ’92, '93. 94. 95. ’ 96. ’97 to J u ly ’ 05. ’ 06 , ’ 07.
2 yearly.
4 Below
P ercen t.
J7vearlv 5 4
5 44
4
In 1907, Jan., 2 % ; Ju ly, 3 % .
E A R N I N G S .— Year ends June 30.
B a l.,su r.
Dlvs. paid.
Year—
Gross.
Net.
Inl.&taxrs.
$1,278
(5 % ) $42,500
$105,581
$61,802
19 0 6 -0 7.......... $819,073
2,0 1 8
(4 % ) 34,000
1 9 0 5 -0 6 .......... 747.610
98.211
62,193
— (V . 6 9 , p. 9 53; V . 8 1 , p. 1 7 2 2 ; V . 8 3 , p. 2 7 0 , 3 7 9 ; V . 8 4 , p. 1 3 6 5 .)
BOSTON T E R M IN A L CO.— Owns Southern Union Depot In Boston
opened in 1899.
V . 68, p. 40; V 69 p. 591.
Boston & Albany, New Eng
land, Boston & Prov. Old Colony and N Y . N H & Hartford R R . Cos.
each ownsone-ftfth of the $500,000 capital stock and pay as rental In monthly
Instalments sums sufficient to pay all expenses, charges. Interest on bonds
and 4 % on stock
These companies are lolntly liable for any deficiency In
case of foreclosure. Reg. int. payable Q .-F .; coupons F. & A .— V . 69, p. 591)
BROCK VI LLE W ESTP O R T & N O R TH W ESTE R N R Y .— V . 8 2.P .1267 .
BRUCE M INES & ALO O M A RY — V . 7 6 . p. 704.
B U F FA LO C R E E K R R .— Owns 6 miles of terminal road In Buffalo. N . Y .
In December 1889 leased for term of charter less one day to the Lehigh V a l
ley and the Erie R R ., which together own entire capital stock of $250 000.
Rental is Interest on bonds and 7 % on stock.— (V . 8 4 , p. 50.)
B U F FA LO ROCHESTER & PITTSBU RG H R A I L W A Y .— (See M a p .) —
Operates from Buff, and R och ., N . Y . , to bituminous coal regions.
O R G A N I Z A T I O N , & c.— Successor in March 1887 to the Rochester it
Pittsburgh, which was foreclosed In Oct 1885.
Plan of reorganization In
V . 4 1 , p. 516. The entire capital stock ($4,000,000) of the Rochester <Ss
Pittsburgh Coal & Iron Co.was owned (V .6 6 . p. 1088) and through that comuany In M ay 1896 control was acquired of the Jefferson & Clearfield Coal &
Iron Co. (see that Co. under "In du strials” ) with $ 3 ,0 0 0 ,0 0 0 stock.
In 1906
the stock of the Roch. & Pitts. C. & I. Co. was transferred (subject to the
lien of the general mortgage) to the Mahoning Investment C o ., having
$ 4 ,2 0 0 ,0 0 0 authorized stock in $ 1 0 0 shares,In consideration of $ 4 ,1 2 5 ,0 0 0
stock, the latter being distributed Dec. 1 9 06 pro rata In proportion of 2 5 %
among the holders of R v. common and oreferred stocks.
V. 8 3 , p. 1468.
V . 8 5 , p. 4 1 4 , 4 1 5 ; report, V . 8 5 , p. 5 9 8 .
For oonds of these coal cos.
see table above.
Clearlield & Manoning securities are guaranteed.
Alle
gheny & W estern, see below.
In Aug. 1901 allied Interests nurchased
upwards of 25,000 acres of coal lands In Indiana C o ., Pa. V . 75, p. 183,
3 47. Lake Ontario Car ferry, V .8 3 , p. 329.
Trackage (Con.) —
M iles.
Lines urwned in fee—
M iles.
Willow Grove to Pittsburgh. Pa
7
Buffalo Creek, N . Y . , to Mt.
Jew ett, P a ....................................... 101 Penn. R R .— Penn. R R . Jet. to
Shuman Run Y. P a .................... 19
Clarion Jet. to Lindsey, P a ............ 60
Rochester to Ashford, N . Y .......... 94 Other ......................................................
6
Leased— Stock not owned—
Charlotte, N Y . , to Lincoln P ’ k. 10
Indiana B ranch.................................. 63 Allegheny & W estern— a
Punxsutawney to Butler, Pa.
Five branches....................................... 20
& c ........................................................ 66
Trackage—
Erie— M t. Jewett to Clarion Jet. . 21 Clearfield & Mahoning— a
Clearfield to Beech Creek R R . . 26
B alt. & Ohio— Butler, P a ., to
2
N e w c a s tle......................................... 41 Mahoning Valley R R ........................
Ribold J e t., P a ., to Allegheny
City P a ......................................... 33
Total July 1907 (aSee separate statement for this com p an y)................. 869
S T O C K .— The stockholders voted N ov. 21 1904 to increase the common
stock from $ 9 ,000,000 t o $12 ,0 0 0 ,0 0 0 , to complete the Indiana branch and
for other capital requirements. O f the new stock, $1,500,000 was sub
scribed for In 1905 by stockholders at par. V . 79. p .685. 1905; V .8 0 . p 116.
D IV . (% > V 9 3 . ’ 94-96. ’9 7 . ’ 98. ’99. ’ 00. ’ 01. ’ 02. ’03
’04 ’ 05. ’06. 1907.
P r e f .. . hi 4
0
1
2
2
6
6
6
6
6 6 6
6
Com . . J .....................................................
4
4
54
6
8
6 Below
In 1 9 0 7 ,on com m on, F e b ., 3 % ; A u g ., 2 4 % . The Mahoning Investm ent
Co. In A ug. 1907 also paid a 2 % dividend on its stock, thus offsetting the
reduction. Compare "O rg an ization ” above.
V . 85, p. 283.
B O N D S .— General 5s for 5 5 ,573.000 are reserved for prior bonds. &c.
The $ 2 ,000,000 debentures of 1897 In the treasury are convertible Into com
mon stock at par and subject to call at 102 4 : they are to be secured by any
subsequent mortgage unless made for refunding existing prior Ileus or for ex
tensions exclusively. See V . 64, p. 706; V . 7 3 , p. 1009. 1111. R . & P. income 6s, $5,000.
.Stockholders voted April 25 1907 to authorize a mortgage to secure an
issue of $35,000 ,000 50-year consols to bear not over 4 4 % Interest, of which
$3,000,000 issuable at once, $18,145 ,000 to retire underlying obligations at
or before m aturity and the remaining $13,855,000 to be reserved for future
requirements after July 1 1908 at not over $1,500,000 yearly in 1908 or
subsequent calendar years, or such larger amount In any year as stock
holders m ay authorize.
In June 1907 $1,000,000 were sold. V . 84, p.
867, 1306; V . 85, p . 39, 414.
In March 1907 made a $ 1 ,000,000 6 % oneyear loan. V . 84, p . 930; V . 85, p. 414.
A sinking fund of 5 % will retire ser. A . B and C equipment bonds annually
on May 1, If purchasable at or below par; otherwise to be applied to the
purchase of additional equipment.
V . 68, n 1131; V . 71, p. 501; V . 73, p.
348. Series D and E have an annual sinking fund of 6 % for purchase ot
bonds Sept. 1 and May 1 , respectively, at 105 and Interest: If not pur
chasable. bonds may be drawn by lot- Series E may also be called as an en
tirety at 105. Series F m ay be purchased by sinking fund at not over par
or drawn by lot at par and m ay also be drawn at 102 and Interest on any
Interest day.
V . 84, p. 1365; V . 85, p. 283, 414, 863.
Real estate m ort
gages, 5 % , $304 ,00 0.
E A R N I N G S .— 2 m o s .,/1 9 0 7 ............... Gross. $ 1 , 7 1 3 . 2 1 8 : 1 n e t . ' $736,298
July 1 to Aug. 31.
11906............... Gross,
1 ,3 0 3 ,7 1 4 :1 n e t.1 483,583
RAILWAY STOCKS AND BONDS
O ct ., 1907.]
v!:}
OF THE FURNACE PLANT OF THE
BUFFALO & SUSQUEHANNA IRON CO.
AND OF THE PROPOSED BUFFALO TERMINALS OF THE
i
BUFFALO & SUSQUEHANNA RY. CO. A.
BUFFALO & SUSQUEHANNA
SYSTEM.
N
A N D IT S C O N N E C T IO N S .
RAILWAY STOCKS AND BONDS.
24
[V ol.
I N T E R E S T OR D I V I D E N D S .
R A IL R O A D S .
For explanation of column headings, & c ., see notes
on first page of tables. *
M iles
Date
of
of
Road. Bonds.
Buffalo Rochester & Pittsburgh— (Con)
R & P consol M $20,000 per mile gold g u a r ..U n .c *
260
275
B R & P 1st general M ($10,000,000) g o ld ____ Un.c*
10
Lincoln Park & Charlotte 1st M gold g u a r ..U n .c *
348
B R & P consol M $35,000 ,000 g old -------C e x c *& r
___
Construction & impt notes (V 8 3 . p 1 5 2 2 ).. -----------c
One-year loan
___ ______
B R & P car trusts gold due sem i-annually_________
___
Equipm ent bonds $500,000 gold s f Ser A ---------G.c*
___
do
do
B & C $1,000,000 each gold s f ____ G
___
do
do
D $2,000,000 gold red 105 sink fund
___
do
do
E $2,000,000 gold red 105 sink fund
do
do
F $3,000,000 gold red sinking fu n d .
...
Buffalo & Susquehanna RR—C om stock guar 4 % ___
Preferred stock 4 % non-cum , guar 4 % __________ .
102
First M gold sinking fund redeem at p a r_.M e.c*& r
26 5
First refunding mortgage gold (see text) ..M p .c * & r
Buffalo & Susa Rv— 1st M $ 6 ,000,000 g o ld ..U s .c * & r
...
Equip trust bonds part due sem -ann_______U sm .c
___
do
do
ser B (V 85, p 39) $29,000 s - a . . Usm
___
do
do
ser C (V 85. p 283). $60,000 s a . PeP
Buffalo Terminal Association— See W abash R R .
Burlington Cedar Rapids & Northern— See Chicago R ock Is
Burlington & Missouri Valley— See Chicago Burllngt on &
C aliforn ia M id lan d — 1st M $3 000 000 ^old
C aliforn ia N o rth w e ste rn — See Northwestern Pacific
California Pacific— See Southern Pacific R R
Cal W RR & N— 1st M $700,000 gold guar s f t e x t -.c *
103
Cambria & Clearfield— 1st M ( $ 2 ,0 0 0 ,0 0 0 ) go ld .G P .c*
30
Bell’s Gap consol M sinking fund not drawn. GuP.c*
46
Clearfield & Jefferson first m ortgage---------- GuP.c*
76
Pennsylvania & N W gen M $ 2 ,5 0 0 ,0 0 0 ____ GuP.c*
392
Cambria & Clearfield general mortgage g o ld _______
Camden & Burlington County — Stock 6 % guaranteed
30
30
First M gold guar p & 1 by Un N J RR & CanCoGP.c*
Canada Atlantic — 1st M gold Ottawa to Lacolle &c.Fc*
138
Consol 1st M $16,000 ,000 gold guar prin & Interest
261
O ttaw a Arnprior & Parry Sound first m ortgage____
Size, or
Amount
Par
Value. Outstanding
1882
$1,000
1,000
1887
1889
1,000
1907 1,000 &c
1906 1,000 &e
1907 10,000 &c
1,000
1897
1,000
1899
1,000
1900-1
1,000
1902
1,000
1904
1,000
1907
____
50
50
50 0 &c
1893
1 ,0 0 0 &c
1901
1903 1,000 &c
Rate
%
$3,917,000
6 g
4,427,000
5 g
350 000
5 g
1,000,000
4X g
1,500,000
4X
6
605,000
39,000
5 g
500,000
4H g
2,000,000
4H g
1,529,000
4y, g
1,305,000
4 Vi g
2,100,000
4X
4,456,900 4 In 1907
4
4,000.000
1 4 7 ,0 0 0
5 g
9 ,4 6 2 ,0 0 0
4 g
6,000,000
g
19 06
1 ,0 0 0
7 8 4 ,0 0 0
5
1907
1907
1,000
1,000
511,000
1,200,000
5
5
1897
1889
1905
-------
See text.
1,000
1,000
500 &C
500 &c
1,000
1,000
25
1,000
1,000
$
& £
--------------
B U F FA LO ROCHESTER & PITTSBU R G H R Y . (Concluded) .
A N N U A L R E P O R T .— Fiscal year ends June 30. The annual meeting
Is held at New York on the third Monday In November. The report for
1906-07 was given at length In V . 8 5 . p. 4 02. In 1906-07 carried 6 ,184,159
tons of bituminous coal (out of 9,5 4 8 ,7 9 6 total tons of freight m oved ),
against 5 .2 0 4 ,4 3 7 In 1905-06.
J
M
J
M
F
&
&
&
&
&
Where Payable, and by
Whom.
Bonds— Princi
pal, When D u *.
Stocks— Last
Dividend.
D 36 W a ll Street, N Y
do
do
S
do
do
J
New York
N
A
do
do
& D
& N
& N
& N
& N
& O
Q— J
Q— M
A & O
J
& J
M & N
&
J
J
A & O
& A
F
J
M
M
M
M
A
Dec 1 1922
Sept 1 1937
Jan 1 1939
May 1 1957
Aug 1 1909
Mch 11 1908
do
do
1907-1908
M ay 1 1919
do
do
May 1 '2 0 -’ 21
do
do
Nov 1 1919
do
do
M ay 1 1922
do
do
April 1 1927
do
do
Oct 1 ’0 7 , 1 %
Sept 3 907 1 %
Fisk & Robinson, N Y
Harvey Fisk & Sons.N Y Oct 1913
April 1 1951
Fisk & Robinson, N Y
April 1 1953
Fisk & Robinson, N Y
Jan ’0 8 -July ’ 16
N W Harris & Co, N Y
A prll'08-A pr ’ 17
N W Harris & Co, N Y
Fisk & Robinson, N Y
Feb ’0 8 -Aug 17
R y and also Rock Isl and Co.
land & Pacific
Quine y.
1907
1905
1891
1883
1886
1890
1905
When
Payable.
lxxxv.
380.000
1,279,000
145,000
1,000,000
1.021,000
1,210.000
3 8 1 ,9 2 5
350,000
3,450,000
4,981,000
1 ,0 0 0 0 0 0
5 g
M
5
5
6
6
5
4
6
4
5
4
5
J
J
A
J
J
F
J
F
J
J
g
g
g
g
g
g
&
N
&
&
J
J
O
J
J
A
J
A
J
J
&
&
&
<5c
&
&
&
&
May
First Tr & Sav B k, Chic
Broad St Station, Phlla
do
do
do
do
do
do
do
do
Broaa St Station, Phlla
do
do
Bank M ont, N Y & Mont.
do
do & Lond.
1 1 9 47
July 1908-192®
Jan 1 1941
April 1 1913
Jan 1 1927
Jan 1 1930
Feb 1 1955
July 1 9 0 7 3 %
Feb 1 1927
Jan 5 1909
Jan 1 1955
B U F F A L O & S U S Q U E H A N N A C O A I, & C O K E C O .— This com pany,
the stock and 1st m tge. bonds of which are owned by the B . & S. R R . , owns
coal lands at Medlx, D uB ois, Troutvllle, Onondaga and Sagamore. Pa.
These lands are estimated to be underlaid with about 104,000,000 tons of
coal. Twelve mines In operation, annual capacity 3,000,000 tons. V . 77,
p. 1301; V . 7 9 , p. 2091-92; V . 82, p. 1322.
Year end. June 30—
1907.
1906.
1905.
Miles June 3 0 ........ ..............
569
568
538
Gross earnings.................... $8 ,5 9 5 ,9 1 6
$ 7 ,797,248
$ 8 ,138,275
Net earnings............... .........$ 3 ,149,921 $ 3 ,000,882
$2,848,733
Other in c o m e ....................
7 0,664
32,204
22,805
1904.
499
$7,496,521
$2,893,325
33,437
P O W 'H A T A N C O A L & C O K E C O.— This com pany, all of whose bonds
and stock are owned by the B. <fc S. R R . , owns coal lands at Tyler and at
Sykes, underlaid with about 2 6 ,000,000 tons of coking coal. Both Its
coking plants, with capacity of 800 tons of coke dally,are operated, and are
shipping to Buffalo for the use of the Buffalo & Susquehanna Iron Co.
Total receipts............... $3 ,220,585
Interest on b o n d s ............
$836,113
R e n t a ls ............. ...................
500.087
Special approprla’ ns, &c.
653,931
Dividend on preferred . . (6)360,000
Dividend on c o m m o n ... (6)630,000
$2,926,762
$778,030
472.669
660,188
(6)360,000
(6)498,000
’ ’ B U R L IN Q T O N .” — See C H IC A G O B U R L IN G T O N & Q U IN C Y R R .
$3,03 3 ,0 8 6
$800,289
492,867
623,427
(6)360,000
(6)630,000
$ 2 ,871,538
$793,174
485.835
618,774
(6)360,000
(6)540,000
•Balance, surplus.............
$240,454
$126,503
$73,755
$157,875
•In addition to this surplus there was received from Investments and
"credited directly to profit and loss account” $120,000 In 1904-05, $320,000
In 1903-04 and $600,000 In 1902-03.
O F F IC E R S .— Pres.. A . G . Y a te s, Rochester; V lce-P res., Adrian Iselln
Jr.. N . Y . ; T reas.. J. F . D inkey. Rochester: S e c., J. H . Hocart N . Y .
Directors— Henry G . B arbey, A . G. Y a tes, A . Iselln J r., W m . E . Iselln,
A . Lanfear Norrle, W alter G. Oakm an, C. O ’ D . Iselln, J. H . Hocart,
W . Emlen Roosevelt, E rnest Iselln, Oscar Grlseh, John L . Riker and
Sam uel W oolverton. New York office, 36 W a ll S t.— (V . 85, p. 598.)
BUFFALO & SU SQ U E H A N N A R R.— See Buffalo & Susquehanna R y.
BUFFALO & SU SQ U E H A N N A R Y .— (See M a p .) — Owns from W ellsvllle, N . Y . , to Buffalo, 86 miles. This com pany leases B. & S. R R . for
999 years from July 1 1907 for interest on bonds and guaranteed dividends
o f 4 % yearly on the capital stock.
Has acquired common stock o f B. & S. R R . C o ., and thus controls road
extending from W ellsville, N . Y . , to Sagamore, P a ., about 60 miles north
of Pittsburgh, which, with Its several branches, has a total mileage of
about 284 miles. Total mileage owned and leased, 370. A t Sagamore
are situated the principal coal mines of the Buffalo & Susquehanna Coal &
Coke Co. The plants of the Buffalo & Susquehanna Coal & Coke Co. and
o f the Powhatan Coal & Coke Co. (V . 75, p. 922; V . 79, p. 2061, 2091-92)
are located on the lines of the B. & S. R R .
The Buffalo & Susquehanna Iron Co. has erected two blast furnaces on
n, tract o f land adjoining the terminal property of the B. & S. R y . on Lake
Erie at Buffalo. This company acquires Its entire supply of coal and coke
from the p ia n tso f the Powhatan Coal & Coke Co. See V . 75, p. 922; V . 79,
. 2061, 2092. Connection Is made at Buffalo with the Buffalo & Susqueanna SS. C o ., owned by affiliated interests.
g
S T O C K .— Authorized, $10,000 ,000 ; Issued, $10,000 ,000 ; par. $100.
B O N D S .— The first 50-year gold 4J^s (authorized issue, $ 6 ,0 0 0 ,0 0 0 , all
outstanding) are secured by a first lien on the terminal property at Buffalo
and the 86 miles of railroad in New York State; also by deposit with the
United States Trust C o., trustee, of al! the common stock of the Buffalo &
Susquehanna R R . C o., amounting to $ 4 ,656,900. V . 74, p. 1040. See
V .7 6 , p. 593; V . 79, p. 2695. O f the equipm ent trust 5 % bonds of 1906,
$44,000 mature semi-annually Jan. 1 1907-1912 and $43,000 July 1 19121916. Series B equipment trust bonds are due $27,000 semi-annually O ct. 1
1907-April 1 1917. The $1,200,000 equipment trust 5 % bonds of Aug. 1907
are due $60,000 semi-annually, beginning Feb. 1 1908. Pres., Charles W .
Goodyear.
(V . 85, p. 39, 283.)
B U F F A L O & S U S Q U E H A N N A R R .— Owns from Sagam ore, P a ., to
W ellsville, N . Y ., with several branch lines, Including 16 miles trackage.
Total mileage, 280.70.
From July 1 1907 the com pany is leased to the
Buffalo & Susquehanna Railway for rental of interest on bonds and divi
dends of 4 % on capital stock.
Stock.— Common stock, all except directors’ shares,owned by B. & S .R i/.,
$4,656,900; par of shares, $50.
P ref., $4,000,000 4 % non-cum .; par, $50.
See application to list, V . 78, p. 2389; V . 82, p. 568.
Dividends.— On com m on, 4 % in 1895 and 5 % yearly to 1907.
In 1907,
4 % paid Q -J; on pref., 1 % quar. Mch. since date o f issue of Issue, begin
ning with Sept. 1902.
Bonds.— The 5s of 1913 have been reduced by the operation of the sinking
iu n d and by refunding Into 4s of 1951 to $147,000. They are subject to
call at par for sinking fund in order of numbers, beginning with highest.
V . 65, p. 234.
The 4s of 1951 are secured by a first refunding mtge. on the entire prop
erty, and are further secured by deposits of purchase money mortgages
aggregating $3,000,000 on coal lands estimated to be worth $6,000,000;
outstanding, $ 9 ,462,000.
Further amounts m ay be issued at not over $25,000 per mile for the con
struction or acquisition of additional road; also for new terminals. Total
authorized issue, $ 1 5 ,000 ,000 ; but additional am ounts at $15,000 perm lle
m ay be issued for double-tracking mileage already covered by the mortgage.
Sinking fund of 3 cts. per ton of coal mined by coal companies mortgaged
Is invested in the bonds If purchasable at not exceeding 110 % ; otherwise in
securities legal tor savings banks.
Bonds so purchased are kept alive in
sinking fun d. V . 73, p. 619, 899; V . 84, p . 748.
Report.— For year ending June 30 1906, V . 83, p. 1091, 1116, showed:
F isca l
Oross
N et (over
Other
Total
Total
Balance,
Years.
earnings.
tixes.
income.
income.
deduct’ns.
surp'us.
1 9 0 6 -')7 _ $ 1 ,853,857
$539 ,19 8 $189,393
$728,591
$490,235
$238,356
1 9 0 5 -3 6 . 1,522.740
535,213
137,613
672,826
426,320
246.506
B U R LIN G T O N C E D A R R A P ID S & N ORTH ERN R Y .— In 1903 title was
acquired by deed by Ch. R . I. & Pac. R y. C o ., the holders of the outstanding
unexchanged stock (about $ 1 7 2 ,2 0 0 --total Issue $ 7 ,150,000) being guarant’ a
the paym ent of 6 % divs. J .-J ., as called for by the lease.— (V . 82, p. 1040.)
C A L G A R Y & EDM ONTON R Y .— Owns Calgary. Canada, to Edm onton,
Canada, 191 miles, and to Fort M cLeod, Canada, 104 miles.
In Feb. 1903 a new lease to the Canadian Pacific (which owns entire $1 ,000,000 stock) for 99 years was ratified, under which the 6 % bonds (£1,121
700) were exchanged for an equal am ount of debenture stock, on which In
terest is guaranteed at 4 % . A t the termination of the lease the principal of
the bonds will be paid at par or a further lease entered into. V . 76, p. 434;
V . 77, p. 1224. The stockholders voted on Sept. 20 1904 to Issue bonds to
build the Lacombe and Westasklwln branches, each about 50 m ., under
construction.
V . 79, p. f0 2 7 , 1265.
Proposed bonds on bridges over
Saskatchewan River not exceeding $ 1 ,0 0 0 ,0 0 0 .
See V . 8 0 , p. 116.
C A L IF O R N IA M ID L A N D R R — V . 84, p. 693.
C A L IF O R N IA N O R TH W ESTE R N R Y .— See Northwestern Pacific R R .
C A L IF O R N IA -W E S T E R N RR. & N A V IG A T IO N CO.— Owns Ft. Bragg,
C al., to Alpine. 23 VS m
Mtge. provides for extension from Alpine to head
of Noyo River. 9 m ., thence to W llllts, 9 Vi m . Stock authorized, $1,000 ,0 0 0 :
par, $100.
Mtge. covers also terminals, railroad wharf and 18,000 acres of
timber la'nd. Bonds are guaranteed, prln. and in t., by Union Lumber C o .,
and redeemable at 105 at end of any year in reverse of numerical order. The
present Issue matures $20,000 yearly, and remaining $280,000 are to fall due
In equal yearly Installments. Sinking fund, see V . 81, p. 1435.
N et
earnings applicable to Interest for 6 m os. ending Dec. 31 1905 , $ 3 9 ,9 9 8 .
Pres., Frank Trum bull.— (V . 8 1 , p. 1495.)
(THE) C A M B R IA & C L E A R F IE L D R Y .— Cresson Jet. to Hoover’s M ill
Branch J et., 50 m .; Bellwood to H oratio, 61 m .; Cresson to Irvona, 27 m .;
Kaylor to Black Lick, 37 m .; Vail to Gram plon, 50 m .; Bradley Jet. to
Cherry Tree, 18 m .; branches, 150 m .; total, 393 m . A consolidation A u g. 1
1903.
V . 78, p. 828. Stock. $4 ,8 3 3 ,8 5 0 , of which $ 4 ,829,350 owned by
Penn. R R . C o.. which operates road. A full abstract of mtge. securing 5s of
1891 was In V . 52, p. 976. Of the bonds, $634,000 first 5s and $597,000
gen. 4s were on Jan. 1 1907 owned by the Penn. R R . For year ending
D ec. 31 1906, gross, $2,6 5 7 ,7 0 3 ; net, $ 4 40 ,07 6; other income, $41,736 ; in t.,
taxes, & c., $317 ,54 1; divs., $145 ,01 5; b a l., sur., $19,256 — (V . 7 7 , p. 298.)
C A M D E N & B U R LIN G T O N C O U N T Y R R .— Owns from Camden, N . J.
to Pem berton. N . J ., 23 miles; branch, Burlington, N . J .. to Mount H olly,
7 m .; total, 30 m . Operated by Penn. R R .. which guarantees 6 % on stock.
Stock, $381 ,92 5; par, $25. In 1906, gross, $ 3 10 ,93 7; net, $ 1 6,336 ; loss
to lessee under rental, $ 2 1 ,0 8 0 .— (V . 64, p. 373.)
C A N A D A A T L A N T IC R Y .— Owns D epot H arbor, O n t., on Georgian
B ay, via O ttaw a, to Vermont State line, 400 m .: trackage to Swanton, V t .
etc ., 10 miles; lease for 99 years Central Counties R y ., Glen Robertson to
H aw kesbury, 21 m . and South Indian to Rockland, 17 m .; owns greater
part of stock of Pembroke Southern R y . branch from Pembroke to Golden
Lake, 21 m . (V . 82, p. 4 51, 1101): total, 468 m . The Grand Trunk ac
quired the road and took It over Sept. 30 1905.
V . 8 1 , p. 1174.
The stockholders were to vote O ct. 24 1907 on ratifying an agreement for
am algam ation with the Grand Trunk. V . 85, p. 599, 863.
Canada Atlantic Transit C o., $ 1 ,000,000 stock, operates steamers, Parry
Sound to Duluth, Milwaukee and Chicago. V . 69, p. 954; V . 70, p. 279.
The 50-year 4s of 1905 (authorized Issue, $ 1 6,000 ,000 ; Royal Trust C o .,
M ontreal, trustee) are guaranteed, principal and Interest, by the Grand
Trunk; $ 2 ,908,000 is reserved to retire the outstanding bonds and the
remaining $2,000,000 for future requirements. V . 7 9 , p. 9 67, 1131, 1641,
2454; V . 80, p. 1058, 1727, 2343.
In O ct. 1908 the Central Counties R y. (leased line) proposed to apply to
the Canadian Parliament for authority to extend the road, issue bonds
therefor and lease, sell or am algam ate with other cos. V . 7 9 , p. 2746; V . 83,
p. 817. A s to Pembroke Southern guaranteed bonds, see V . 82, p. 451,1101
S T O C K .— $ 6 ,200,000 com m on and $ 1 ,000,000 preferred, all Issued.
R E P O R T .— In 1905-06, gross, $1,971 ,0 2 8 ; net above taxes and rentals.
$433 ,65 1; net earnings of steamships, & c., $9,624; Int. on bonds, $591 ,70 1:
taxes, $24,580; bal., d e f., $ 1 7 3 .0 0 6 .— (V . 8 5 , p. 5 9 9 , 863.)
C A N A D A M IC H IG A N & CHIC AG O .— Bonds worthless. V . 63. p. 838.
C A N A D A SO U TH ERN R Y .— (See M aps N . Y . Cent. & Hud. Rir #£• > —
R O A D .— Main line from Suspension Bridge station. Including the Cantilever
Bridge, to W indsor, O n t.. 223 m .; branches to Courtrlght, O n t.. & c., 231 m .;
total, 457 m .. of which 85 miles are nominally owned by proorletary com
panies. Trackage, St. Thom as to London, O n t.. 15 m. D o u b l e track,152 m .
Detroit River Tunnel, under construction, see Michigan Central R R .
O ct ., 1907. J
R A IL R O A D S .
For explanation of column headings, & c ., see notes
on first page of tables.
Canada Atlantic— (Con)
Pembroke Southern first mortgage guaranteed
Central Counties first mortgage Interest rental____
Canada Mich & Chicago— 1st M . See V . 6 3 , p. 838
Canada Southern— S t o c k ________________________________
First M $14,000 ,000 (Can m oney). See V 63, p 188
Second M for $6,000,000 (Can money)
do c&r
Leamington & St Clair 1st M gold guar p & 1 (end) _ _
Canadian Northern Ontario— Deb stock $20,000 per m
Canadian Nor— L M an R y & Can Co $8,000 p m
Canadian Nor & M an Dlvs $8,000 per mile
Gilbert Plains Branch $8,000 per m ile_______ 2 a
Ontario D lv 1st M deb $44,700 are 4J 4 s____ ■° c.
M anitoba Branch lin es_________________________ 3 0
1st cons deb M (Man lines) $10,000 p m ..c & r . o
M anitoba lines second mortgage_____________________
Gunfllnt Branch bonds $10,000 per m ile____________
Erwood extension bonds_______________________________
Manitoba Provincial bonds, $8,000 per m ile_______
Perpetual consol deb stock (V 8 1 , p 1 6 0 9 ).................
First M deb stock $13,000 p m guar by Canadian Gov
Q u’ApLongLake& Sask deb stock £ 1 ,0 5 0 ,0 0 0 g u a r _
First land grant M redeem 110 (V 7 5 , p 183, 549) _ .
Imperial Rolling Stock 1st M ser A part due yearly
do
do
ser B to F $210,000 due y ’rly
do
do
ser G $45,000 due yearly___
do
do
ser H $60,000 due yearly___
do
do
ser K $100,000 due y e a r ly ..
do
do
ser L $250,000 due yearly___
do
do
part due yearly (V 85, p 599)
do
do
$50,000 due yearly_________
do
do
ser O $150,000 due yearly.c*
Can. Nor.Quebec— Gt.N or. COnsM $ 7 ,9 6 2 ,0 0 0 (text) . -Ce
Perpetual guar, debenture stock (see te x t)________
Canadian Pacific— Stock $150 ,00 0,00 0 authorized . .
Preferred stock limited to 4 % non-cum ulatlve____ r
Canada Central R R second mortgage (now first) . .
Canadian Pacific first mortgage debentures sterling
M iles
Date
Size, or
Amount
Par
of
of
Road. Bonds, Value. Outstanding
150.000
380.000
1906
38
459
404
404
16
268
125
287
27
287
100
1878
1883
1895
1906
1896
1899
1900
1901
1,000
1,000 &c
1,000
£100
£100
£100
£100
1904
V.666
...........500
£100
1903
1906
1902
1903
1904
1904
1905
1906
1906
1907
1907
1905
269
3,221
1880
1885
£100
$ 1,000
$ or £
$ or £
500 &c
500 &c
500 &c
1,000
500 &c
100
100
£100
£100 &c
T o ta l. June 30 1906 (Including 351 miles leased from Nor. P a c .)____ ,2 .4 8 2
Extensions of 620 miles from Grandview to Edmonton and 100 miles from
Prinoe Albert easterly were completed late In 1905.
Other lines contem
plated will bring total mileage approxim ately to 2,788 miles. The Canadian
Northern Ontario and Canadian Northern Quebec railways, allied comianles (which see), will afford access to Montreal and Quebec.
In Dec. 1906
t was proposed to apply for permission to build 14 branches and extensions
and Increase the powers In regard to Issuing bonds. V . 83, p. 1468.
In A u g. 1906 the Qu ’ Appelle Long Lake & Saskatchewan R R . & Steam
boat C o., Regina to Prince A lbert, 249 miles, was acquired, the £ 3 ,8 0 9 ,1 4 0
outstanding bonds being ofTered £107 per £10 0 bond in 4 % debenture stock
guaranteed, prln. and Int., by Canadian Northern R v ., and the £275 ,00 0
certificates for unpaid Interest £ 3 0 per £ 1 0 0 In the debenture stock.
Road
operated under lease since Jan. 1907.
See V . 83, p. 214, 324. 688, 1036.
In Dec. 1906 the same Interest acquired 5 1 % of the $ 6 ,000,000 stock of
the Quebec & Lake St. John R y ., Quebec to Roberval, on Lake St. John,
189 miles, with branch from Chambord to Chicoutimi, 51 miles, and one
nearing completion from Riviere a Pierre Jet. to St. T lte, 40 miles.
V . 83.
p . 1348, 1410; V . 84 p. 1181.
O R G A N I Z A T I O N .— W illiam Mackenzie of Toronto. Senator George A .
Vox and the Canadian Bank of Commerce are backing the enterprise.
The Manitoba lines of the Northern Pacific R y. 351 miles, are sublet
from the Provincial Government for 999 years from May 30 1901 at $210,000
annually for first 10 years, then $225,000 for 10 years, then $275,000 for
10 years, and thereafter $300 ,0 0 0 , with option of purchase for $7,000 ,0 0 0 .
M anitoba Government has option to purchase entire property In 1929.
See below and V . 72, p. 437; V . 73. p. 615. Canadian System Terminals,
incorporated Sept. 1907 with $ 2 ,0 0 0 ,0 0 0 stock, V . 85, p. 863.
L A N D G R A N T .— O f the entire land grant. 2 ,455,466 acres, about
363,000 are held for account of Manitoba Government In connection with
guaranties, 533,000 for account r • Dominion Government as security for a
mall contract subsidy, the remaining 1,500,000 to be sold from time to time
through a selling agency: V . 76, p. 1083. See V . 7 p. 183, 549; V . 8 1 ,p. 263.
IN T E R E S T OR D I V I D E N D S .
Rate
%
When
Payable.
M
&
Where Payable, and by
Whom.
S
Bonds— Princi
pal, When D ue
Stocks— Last
Dividend.
Sept 1 1956
1,000 Worthless
O R G A N I Z A T I O N , <5sc.— The company was chartered In Canada Feb. 28
1868, and debt readjusted In 1878.
In 1903 made a new lease to Mich. Gent,
for 999 years, the latter guaranteeing dividends on the stock at 2
% yearly
to 1910, thereafter 3 % : also authorizing a mortgage to retire existing
bonds and pay for Improvements. V . 7 6 , p. 1191, 1247; V . 7 7 , p. 950; V .
84, p. 803.— (V . 80, p. 2457; V . 82, p. 5 68, 927; V . 84, p. 803.)
C A N A D IA N NORTHERN O NTAR IO R Y .— Toronto, O n t.. C an ., to Sud
bury, 268 m ., (150 m . operated), with branch to French R iver, on Lake
H uron, thence connecting by steamship with Port Arthur.
Under con
struction from Hawkesbury to O ttaw a, to be continued to French River
Junction and later from Ottawa to Toronto.
N am e changed from James
B ay R y. June 30 1906.
V . 83, p. 154, 212; V . 79, p. 9 03, 2697.
Stock au
thorized, $ 1 ,0 0 0 ,0 0 0 . Controlled by Canadian Northern R y . The debentures
are secured by deeu of trust to National Trust Co. of Toronto and the Brit
ish Empire Trust Co. of London, and guaranteed, prin. and in t., by the
Ontario G ovt. V . 83, p. 212, 968; V . 84, p. 930.
In Feb. 1907 the Cana
dian G ovt, was asked to guarantee the bonds at $20,000 per mile of a pro
posed line from a point 9 miles above Parry Sound to North B ay, about 75 m.
V . 84, p. 449: V . 83. p. 1468. — (V . 83. D . 968: V . 84 D . 930.)
C A N A D IA N NORTHERN Q U E B E C R Y .— Owns main line t>etween
R lv-a-Pierre, on line of Quebec & Lake St. John R y ., to Hawkesbury
on the Canada-Atlantic R y ., 169 miles; branches, 59 m .: Joliette to M on
treal, 37 m .; total, 265 m .
Extension from Garneau Jet. to Quebec, 90 m .,
to be completed In 1907.
Owns elevator, car shops at Quebec, &c. V . 7 1 ,
p . 1220. Stock co m ., $4 ,5 5 0 ,0 0 0 ; pref., $ 3 ,4 5 0 ,0 0 0 .
Am algam ation July 1906 of Great Northern R y. with Chauteaugay
& Northern and the Quebec New Brunswick & N ova Scotia R ailw ay,
the latter projected from Quebec to Quebea Bridge and thence through
Maine to a point near M oncton, N . B ., thence through Westm oreland
and Cumberland counties to Pugwash and New Glasgow, &c. V . 83, p. 271.
On June 11 1906 the Quebec New Br. & N ova Scotia filed a mortgage.
V . 82, p. 986; V . 7 9 , p. 2696; V . 83, p. 155.
In O ct. 1906 It was proposed
to apply for permission to lease the road to the Canadian Northern or Ca
nadian Northern Ontario R y. V . 83, p. 1036.
The Great Nor R y 4s of 1905 ($7,962,000 authorized per plan V . 79. p.
2 795 , are subject to call at par during ten years from date. O f the bonds,
$ 4 ,9 6 2 ,0 0 0 ,guar. prln. and Int. by Canadian Northern R y.,w ere Issuable to
retire old bonds and pay off other liens and debts, and remaining $ 3 ,0 0 0 ,0 0 0 ,
at not over $20,000 per mile, for additional mileage. Suit on Great N or.
E lev. m tg e., V . 8 1 . p. 1315.
The shareholders Oct. 22 1906 authorized an Issue of 4 % perpetual
debenture stock guaranteed by the Canadian Northern, limited to an amount
sufficient to provide for old bonds issued by Great Northern and Chateaugay
& Northern and Quebec New Brunswick & N ova Scotia, and not exceeding
$ 2 0,000 per mile hereafter constructed or acquired.
In O ct. 1906 holders
of $ 1 ,514,500 of the $ 5 ,462,000 G t. N or. R y. bonds and all of the Chateaugay Northern and Quebec New Bruns. & N ova Scotia bonds had consented
to exchange their bonds for this debenture stock, and £ 1 ,0 0 0 .0 0 0 issued
therefor was subscribed for by the public. V . 83, p. 968; V . 83, p. 751:
V . 84, p. 6 9 3 ,7 4 8 .
Pres., D . B. Ilanna, Toronto, N . Y . — (V . 8 3 , p. 155; 271, 7 51, 968, 1036;
V . 84, p. 6 9 3 ,7 4 8 .)
C A N A D IA N NORTH ERN R Y .— Operates from Port Arthur, O n t., on
Lake Superior, to W innipeg, and thence into Northwestern Canada.
M iles. I
M iles.
Port Arthur to W innipeg_________ 439 |Arizona Jet. to Morris and BranW innipeg to K am sack.......................279 | don J e t ................. ...............................77
Stanley Jet. to Gunfllnt___________ 67 |Brandon Jet. to Carberry J et______ 23
Carman Jet. to B elm ont..................49 |Delta Jet. to D e l t a . _______ _______ 15
Portage Jet. to International
|Neepawa Jet. to McCreary Jet___70
boundary------------------------------------- 63 |Namsack to Edm onton___________ 548
Morris to Somerset.............................. 62 ISIfton Jet. to Wlnnepegosis................ 21
H artney Jet. to Brandon..................40 |Emerson to R ld g e v llle ....................... 12
Belmont to Virden.................... ......... 91 IGreentvay to Adelpha ......................... 52
Gilbert Pis. Jet. to Prince A lb e r t.361 |Oak P t. Jet. to Oak Point________ 54
Rossburn Jet. to Rossburn.............79 |Winnipeg Transfer Line..................... 11
F
25
RAILWAY STOCKS AND BONDS.
15.000.000 See text F & A Grand Cent Station, N Y
14.000.000
5
J
&
J Union Trust Co, N Y
6 , 000,000
do
do
5
M & S
130.000
A & O A g ts’IBlr of.M ontreal, N Y
4 g
1 ,101,370
M & S 31
3^
£5 3 ,1 0 0
4
£395 ,80 0
4
£5 ,8 0 0
4
£ 1 ,8 0 4 ,5 0 0 4 & 4 H g J & D 30 London and Toronto
4
$ 101,000
J & D 30
£ 2 ,0 3 9 ,7 0 0
4
J & D 30 London, Toronto & N Y
354.000
669.000
4X
693,900
J & D 30
4H
349.000
4
£ 2 ,2 4 0 ,0 0 0
4
J & D 30 London, Eng
£1 ,9 2 3 ,2 8 7
3
M 3 1 -S 3 0
do
756,681
4
J
&
J
$ 2 ,000 ,000
& A N at Tr Co, Tor or Lond
4 g
1,060 148
& N C Bk of Com , N Y ; or Tor
5 g
5
1,260,000
& A
do
or London, Eng
315.000
5
do
Toronto or Lon
& S
420.000
do
do
800.000
& O N Y , Toronto or London
4H g
2,200.000
& I)
do
do
4H g
5 0 0 ,COO
do
do
4^ g M & N
500,000
& D
do
do
4 ^ g; J
& D
1,500,000
do
do
4^ g
4
See text.
& O New York
4
£ 1 ,000,000
J & D 31
121,680,000 See te x t. A & O Lond & 31 Pine S t, N Y
4 3 ,936,666
4
A & O Com pany’s Office, Lond
973,333
6
Various Montreal
34,998,633
J
&
J Baring Bros & C o., Lond.
5 g
Aug 1 1907 1J*
Jan 1 1908
March 1 1913
Oct 1 1945
July 10 1936
A u g 1 1926
Feb 1 1929
N ov 1 1930
June 30 1930'
June 30 1930
June 30 1930
June 30 1930
June 30 1930
June 30 1930
Oct 1 1930
Irredeemable
July 10 1953
July 1 1936
Feb 1 1919
N ov 1 1906-’ 12‘
Aug 1 1908 -’ 13
Sept 1 1908-’ 14
1908-1914
Oct 1 1908-’ 15
June 1 1908 ’ 16
N ov 1 1 9 0 8 -’ 16
June 1 1 908 -’ 17
June 1 1908 -’ 17
Oct 1 1934
Perpetual
S e p t30 1907 3 H
Oct 1 1907 2 %
N ov 1 1910
July 1 1915
S T O C K .— June 30 1906, authorized, $ 3 0,750 ,000 ; par, $ 1 0 0 ; all paid.
B O N D S .— On Winnipeg and Saskatchewan divisions there have been
issued first mortgage bonds, guaranteed principal and interest, by the
G overnment of Manitoba, at $8,000 per mile; also second m ortgage bonds,
unguaranteed, $2,000 per mile. See V . 7 5 , p. 1353; V , 7 1 , p. 235.
In July 1903 Canadian Government guaranteed 50-year first mortgage 3 %
debenture stock, at $13,000 per m ile, for the construction of 620 miles from
Grandview to Edm onton and 100 miles from Prince Albert easterly. V . 8 0 ,
p. 1234; V . 76, p. 1299.
In Dec. 1904, $4,866,666 (£ 1 ,0 0 0 ,0 0 0 ) first consolidated mortgage deben
tures on M anitoba lines, guaranteed, principal and interest, by Government
of M anitoba, were sold, being part of an authorized Issue at $10,000 per
mile. V . 80, p. 116; V . 7 8 , p. 1274; V . 7 9 , p. 2794; V . 8 1 . p. 1607.
In
March 1906 £ 5 7 7 ,5 0 0 additional was listed In London. V . 82, p. 568.
In
March 1906 branch line bonds were offered the option of exchange for 1st
consol, deb. 4s. V . 82, p. 691.
In Jan. 1905 the M anitoba Government was asked to guarantee $ 2 ,8 9 0 ,0 0 0
additional bonds, v iz .: $ 1 ,000,000 for W innipeg terminals, a line to O ak
Point on Lake M anitoba and bridge over Assiniboine River and $ 1 ,890,000
for 189 miles of branches. V . 80, p. 710.
The Ontario Division 43^s (see V . 72, p. 3 38, 437) were m ostly in 1902
exchanged for 4s, guaranteed, principal and Interest, by the Government at
M anitoba. V . 7 4 , p. 882; V . 75, p. 1398; V . 7 1 , p. 235.
In 1903-1905 £ 2 ,2 4 0 ,0 0 0 perpetual consolidated debenture stock was Issued
to acquire securities of controlled properties. V . 76, p . 1247; V . 77, p. 87;
V . 80, p. 996; V . 81, p. 609. As to Imperial Rolling Stock 5s of 1902, see
V . 75, p. 1353; of 1903, V . 77, p. 1746, 1873; of 1904, V . 79, p. 1641; of 1906
and 1907, V . 82, p. 1267; V . 84, p. 506; V . 85, p. 283, 599.
See alsoV . 81, p. 1550.
In Dec. 1906 ordered equipment to cost $4 ,8 2 5 ,0 0 0 for
1907 delivery. V . 83, p. 1523.
Great Northern R y . of Canada bonds are guaranteed. V . 7 9 , p . 2454 ;
also Canadian Northern Quebec perpetual debenture stock.
V . 8 3 , p. 751.
The Edm onton & Slave Lake R y ., an allied line, on July 1 1907 made a
mortgage to secure an issue of first mortgage bonds at $20,000 per mile on
the line between Edm onton and Athabasca Landing, about 100 m iles.
V . 85, p. 468.
E A R N I N G S .— 12 mos.,"11906 -07____ Gross, $ 7 ,4 9 3 ,1 0 0 ; net, $ 2 ,1 1 8 ,0 0 0
July 1 to June 30.
J1905-00____ Gross, 5 ,5 6 3 ,1 0 0 ; net, 1 ,9 1 1 ,7 0 0
R E P O R T .— Report for year ending June 30 1906 (2,482 miles) was in
V . 83, p. 1092, showing gross, $5,903 ,7 5 5 ; net, $ 2 ,2 2 9 ,0 2 3 ; charges, $1,*
5 0 9,448 ; surnlus, $719 ,57 4.
In 1904 05 (1.876 m iles), gross. $ 4 ,1 9 0 ,2 1 2 .
Pres., W illiam Mackenzie; V .- P ., D . D . Mann; 3d V .-P . and Gen. M gr..
D . B. H anna; Treas., A . W . Mackenzie; Sec., W . H . Moore. Office^
Toronto, Can.
Directors— W m . Mackenzie, D . D . M ann, Z . A . Lash,
Frederick Nlcholls and R . M . H om e-P ayn e.
(V . 85, p. 599, 863.)
C A N A D IA N PACIFIC R Y .— R O A D .— Owns a trans-continental railway
from Montreal to the Pacific Ocean, made up as follows July 1 1907:
Montreal to Vancouver...............2,908 Under construction July 1 1907 823Branches and auxiliaries............ 2,505 Operated account of o w n e rs.. .
262
Leased lines.......................................3.647
Also controlled but oper. sep.—
Used jo in tly .......................................
94 aMInn. St. P . & Sault Ste. M . .2 ,2 8 2
aDuluth South Shore & Atlantic 591
Total In traffic returns............ 9,154
a See each com pany’s statem ent.
H I S T O R Y , E T C .— Incorporated Feb. 18 1881 under charter from D o
minion of Canada, receiving $25,000 000 in cash as a subsidy, also 2 5 ,0 0 0 ,000 acres of land, all to be fit for settlem ent.
Operates trans-Atlantic and
Pacific steamship lines; also steamers to Alaska.
S T O C K .— The Issue of preferred must never exceed one-half the common
stock.
In Feb. 1907 about $5,00 0 ,0 0 0 preferred stock was sold, raising total
am ount out to $ 4 2,719 ,999 .
V . 84, p. 338, 693.
Tile stockholders voted
March 19 1906 to increase the common stock to $1 5 0 ,0 0 0 ,0 0 0 .
O f the new
stock, $ 2 0,280 ,000 was subscribed for by stockholders pro rata at par, In
creasing the amount outstanding to $12 1 ,6 8 0 ,0 0 0 .
The new stock
received dividends for half-year ending Dec. 31 1906. V . 82, p. 3 3 3 , 6 9 1 .
D IV S .— 9 0 -’94 ’95. 96. ’97. ’98. ’ 99. ’ 0 0 . ’01. ’02. ’03. ’04 to O ct. ’07.
•Com, %\5 yrly. 0
2 ^ 2M
4
5H 5
5
5^
6 yea rly .
Pref. % flssu ed In 1894. 4 % yearly (2 % A . & O.)
*
Also 1 % extra was paid in 1907 from interest on land sales, v iz ., ]4 %
Apr. 1 and H % Sept. 30.
See "General Finances” below and V . 83. p. 817.
B O N D S , D E B E N T U R E S T O C K , G U A R A N T E E D B O N D S , E T C .—
List of securities held against consolidated debenture stock In V . 85, p. 7 2 7 .
In June 1890 company agreed to guarantee the principal and Interest of
$20,000 ,000 4 % , bonds to be issued by the Dul. South Shore & A tl.; also
4 % interest on consolidated bonds of the Minneapolis St. Paul & Sault Ste.
Marie, and in 1899 interest on the second mortgage 4s of the latter, and In
1901 Interest on $1,254 000 Mineral Range 4 % bonds, the last-named being
all owned June 30 1907. See V 50 n. 874; V . 51 p. 239; V . 52, p. 608;
V . 68, p. 669, 770; V . 7 3 . p. 556.
Owns D ul. S. S. & A tl. consols. $ 1 5 ,107,000.
St. Lawrence & Ottawa bonds are endorsed with the Canadian Pacific
acceptance of a 999-years’ lease at a rental sufficient to pay 4 % Interest on
bonds, and the bondholders agreement to accept Interest at 4 % (instead of
6 % as form erly), and to refrain from demanding principal (due 1910) during
continuance of lease.
The New Brunswick Railway consolidated debenture stock has Interest
guaranteed by Canadian Pacific; Interest on the first m ortgage bonds,
though not guaranteed. Is paid out of rental under 690-year lease of 1890.
The Calgary & Edmonton R y. debenture stock Is guaranteed Interest at
4 % under new lease of 1903.
V . 7 6 , p. 435; V . 77, p. 636.
The Lindsay Bobcaygeon & Pontypool R y . bonds are Issued under a
99-year lease covering the Interest. V . 77, p. 1225: V . 79 p. 2085.
In 1906 proposed to guarantee Toronto Union Station Co. bonds. V . 82,
p. 451. In N ov. 1906 It was proposed to issue not exceeding $3 5 ,0 0 0
debenture stock per mile on the Toronto-Sudbury branch, 229 miles. V . 8 3 ,
p . 1098.
Car trusts outstanding June 30 1907 $2,240 ,0 3 7 .
L A N D S .— Lands unsold June 30 1907 were 8,629,441 acres of Canadian
Pacific grant and 172,187 acres of Manitoba South W estern grant, 1 0 4,195
Great N orth-W est Central grant, 3,322,503 British Columbia Southern and
26
IN T E R E S T OR D I V I D E N D S .
R A IL R O A D S .
M iles
Date
of
of
Road. Bonds.
Size, or
Par
Amount
Value. Outstanding
Rate
%
183 1888
Canadian Pac (Concluded)— IstM onAlgom aBr g. c* &r
___ 1889
Consolidated perpetual debenture stock........ ............
Securities of Principal Leased, E tc., Lines.
218 1884
M anitoba S W Col R y $12,000 per mile lnt g u ., gold
350 1887
Atlantic & Northwest— 1st mortgage gold gu ar.c* &r
St Lawrence & Ottawa— first mortgage gold see text
58 1876
_
____
Ontario & Quebec stock guaranteed In perpetuity
Ontario & Quebec deben Interest guar In perpetuity
671
Toronto Grey & Bruce I s t M gold. Interest as rental
191 1883
174 1884
New Brunswick R y 1st M gold lnt from ren tal____ c*
1890
Perpetual consol debenture stock, Interest guar
Calgary & Edm onton deb stock gold Interest as rent
1890
'5 2 1905
Branch line bond? $1,040,000 (owned by C an.Pac.)
•40 1903
Lindsay Bobcayg & Pontypool 1st M $700,000 gold
Minn St P & Sault Ste Marie and D uluth So Shore & Atlan tic— S
Cane Belt— See Atchison Topeka & Santa Fe.
B
Carolina Central— Bonds— See Seaboard Air Line R y .
Carolina & Tennessee Southern— See Southern R y .
46 1892
Carthage & Adir— 1st M $1,600,000 gold gu _U n .c*& r
Carthage W ater & Sack Har— 1st M gold guar p&i end
29 1891
1898
Catasauqua & Fogelsville— First mortgage g _ .P e P .c *
Cataw issa— Pref stocks 5 % guar P & R R y . See text
"9 8
103 1898
First consol mortgage $ 2 ,215,000 g o ld ___PeP c*
16 1885
Catskill IWt'n.— 1st M , ($2,000 n o te x t , from 1 9 0 5 ) ..
1885
First Income b on d s........................................................ .........
34
Cayuga & Susquehanna— Stock 9 % rental D L & W
Cedar Rapids Iowa Falls & Northwestern— See Chicag o Roc k Islan
100 1898
Central Branch— Cent Branch U P 1st M gold__U n.c*
Central Branch first mortgage guaranteed g o ld ..M e
288 1899
312 1895
Central of Georgia Ry 1st M $7,000,000 gold___G .c*& r
Consolidated mortgage $18,500 ,000 g o ld . . M e.c*&r 1,471 1895
138 1895
Mobile D lv 1st M (Columbus to Andalusia) gold. G c*
102 1895
M acon & Nor D lv 1st M $840,000 g o ld ____ MBa.c*
77 1901
Ocon D lv 1st M Brewton to Dover $6,000 p m ..S .c *
65 1897
Mid Ga Cc Atl D lv 1st (consol) M $9,000 p m _ .G .c *
21 1896
Eatont Branch 1st M not guar gold . . ________
164 1901
Chattanooga D lv purch money M $2,400,000 g ..S .c *
138 1897
Chattanooga Rome & So 1st M $500,000 gold. U.c*
1905
10^
Upper Cahaba purchase money M gold red 102 H . .N
£100 Sec $3,650,000
£1 &c 106,045,411
5 g
4
F or explanation of column headings, & c., see notes
on first page of tables.
When
Pat/able.
J
J
&
&
& D
&
J
&
J
& N
& O
& A
_
_
J
& J
and Co
J
<5c ' d
F & A
F & A
M & N
J
& J
J
&
J
& D
J
J
J
&
j. & D
J
& D
J
&
J
F & A
Grand Cent Station, N Y .
do
do
Philadelphia, Pa.
Com pany’s Office, Phlla
do
do
Tan N at Bk.CatskUl.N Y
5.8281 % paid In Sept. ’06
30 Pine S treet,N ew York
Dec 1 1981
July 1 1931
July 1 1928
May 18 1907 2 M
April 1 1948
Aug 1 1915
Aug 1 1915
July 1907 4 H %
J
J
J
M
A
F
$27,667 ,789
Fixed c h a rg e s _______________________ $8.51 1 ,7 5 6
For steamships, &c_________________
780,000
Dividends on common stock____ a (6)7.300,800
Dividends on preferred stock______(4) 1,736,228
$ 24,942 ,759 $17,059 ,752
$ 8 ,350,545
$7,954,066
580,000
230,000
(6)6,084,000 (6)5,577,000
(4)1,660,133 (4)1,514.133
$ 8 ,268,082
$1,784,553
Balance, surplus_________________ $9 ,339,005
a Also 1 % extra paid in 1907 from Interest on land sales, v iz .,
%
April 1 and % % O ct. 1.— V . 85, p. 4 0 2 ,5 9 9 , 652, 716, 726, 863, 1002.
C AN E B E L I R R .— Sealy to Matagorda, 93 miles.
Branch to Garwood,
9 miles. The Lincoln Trust Co. of St. Louis is the mortgage trustee.
Bonds are Issuable at $15,000 per m ile, but all bonds above the $750,000
now outstanding will be In subordination to the lien of the latter on the
present mileage. V . 7 7 , p . 2338. Stock, $ 1 00 ,00 0, all acquired In N ov.
1903 by Atchison Topeka & Santa Fe, which leases the road for 50 years
from July 1905. V . 7 7 , p. 2097.
Year ending June 30 1905, gross,
$223 ,81 0; net, $47,6 1 1 .— (V . 7 7 , p. 2338.)
C A R O L IN A & N O R TH W E STE R N R Y .— Owns standard-gauge road
Chester, S. C .. to Lenoir, N . C ., 110 m . Controls Caldwell & Northern Lenoir
to Edgemont. N . C .. 25 m . Reorg. in 1897 of Chester & Lenoir, foreclosed.
In Mch. 1900 nearly all stock was acquired by a syndicate. Stock author
ized $1,000 nno each of com . and 4 % non-cum pref.; outstanding, July
1906, $854,250 com. and $550,000 pref. stock.
O f the 50-year 1st gold 5s
due July 1 1953 (Standard Trust Co. of New York, trustee), $ 1 ,500,000 were
used to retire all underlying bonds and $1.000 000 are applicable to exten
sions, new equipm ent, &c. Y ear 1905-06 ( 1 1 0 m .) , gross, $326 ,82 1; net,
$133 ,0 7 1 ; total deductions, $ 8 4,093 ; b a l., sur., $48,9 7 8 . P res., W m . A .
Barber, 5 Nassau S t ., N . Y . — (V . 7 7 , p. 348.)
C A R T H A G E & A D IR O N D A C K R Y .— (See M a p s N . Y . Central.)— Owns
from Carthage to Newton Falls, N . Y . , 46 m . The entire stock, $50 0 ,0 0 0 , is
owned by the N . Y . Central R R ., which In M ay 1893 leased the property In
perpetuity and guaranteed its $ 1 ,600,000 bonds, of which $500,000 were for
extensions. & c.— (V. 57. p. 218.)
C A R TH A G E W A T E R T O W N & SA C K E T T ’ S H AR B O R R R .— (See M a p s
N Y . Central.) — Owns from Carthage to Sackett’s Harbor, N . Y ., 29 miles.
Controlled by N . Y . Central, which owns $484,100 of the stock and guaran
tees the bonds. Leased to R . W . & O . for 37
% of gross earnings. Rental in
cal. year 1906, $ 4 2,734 . Cap. stock, $465,845 common and $21,500 pref.
C A T A S A U Q U A & F O G E L SV IL L E R R .— Road from Catasauqua, Pa , to
Rittenhouse G ap, P a .. 29.5 m . Opened In 1857; in 1890 the Phlla. & Read,
acquired control through ownership of a majority of the capital stock of
$ 426 ,90 0 (par, $25). O f the stock $254,125 is owned by Reading C o., $251 ,625 being deposited as part security for Read. gen. mort. of 1897. D ivs.
paid in 1903-04. 7 % ; in 1904-05, 8 % ; in 1905 -06 , 8 % .
For year ending
June 30 1906, gross, $136 ,81 4; net, $76,929 ; deductions, $32,839 ; dividends,
$34,1 5 2 ; b a l., sur., $ 9 ,9 3 8 .— (V . 8 1 , p. 1492.)
CAT A W 1SSA R R .— Owns from Tam anend, P a. to Newberry J et., P a .,
98 m ., and branches, 6 m . Re-leased D ec. 1 1896 for 999 years to Phlla. &
Read. Railway. Rental. Int. on bonds, 5 % dividends on pref stock, all taxes
and $8,000 for organization expenses. See also V . 63, p. 969, 1 116 , O f the
pref. stocks. In 1906 $2,200,000 was first preferred and $ 1 ,000,000 second
preferred and common was $1,159 ,5 0 0 ; par $ 5 0 .— (V . 7 2 . p. 1187.)
C A T S K IL L M O UN TAIN R Y .— Owns narrow gauge road from Catsklll,
up the Catsklll Mountain, to Palenville, N. Y . , 16 m .; leases Cairo R R .,
Cairo Jet. to Cairo N . Y . . 4 m .; total, 20 miles. Stock, $ 89,000 . There are
also second incomes for $15,6 0 0 , 6 % . First Incomes have one vote for each
$100.
D lv. on 1st incomes, 5 .8 2 8 1 % , paid Sept. 1906, the first since 1897.
V . 8 3 , p. 817.
E A R N I N G S .— Year ending June 30 1906, gross, $75,303;
net. $29,257 Interest, fee.. $ 1 6 .2 0 5 .— (V . 83, p. 817.)
C A Y U G A & SU S Q U E H A N N A R R .— Owns from Susquehanna River to
Ithaca, N . Y . , 34 m . Leased during length of charter and renewals thereof
to the Delaware Lack. & Western at a rental of $54,600 a year. Dlvs paid
are 9 % yearly, with an occasional extra am ount; In 1904 9 M % was paid.
J Baring Bros & C o, Lond. July 1 1937
J Com pany’s Office, Lond. Irredeemable.
June 1 1934
Jan 1 1937
See text.
June 1907 3 %
Irredeemable.
July 26 2882
Aug 1 1934
Irredeemable.
2002
1955
July 1 2002
1,000
1,100,000
4 g
300,000
1,000
5 g
1,000
135,000
4 g
5
50
3,200,000
1,000
2,215,000
4 g
5
1,000
39,000
238,000
6
100 &c
30
589,110 See text
d & P ad fic R y and Rock Isl
1,000
2,500,000
4 g
1,000
3,459,000
4 g
1,000
7.000,000
5 g
1,000 18,200,000
5 g
1,000
1,000,000
5 g
840,000
1,000
5 e
1 000
462,000
5 g
1,000
413,000
5 cur
500
168,000
5 g
1,000
2,057,000
4 g
1,000
343,000
5 g
1.000
540.000
4 g
$ 61,669 ,758 $50,481 ,882
$22,973 ,312 $15,475 ,088
1,969,447
1,584,664
Bonds— Princi
pal, When D ue.
Stocks— Last
Dividend.
London & 31 Pine S t,N Y
Baring Bros & Co, Lond.
Can Pac Office, London
Montreal and London.
M orton, Rose, London.
Toronto and London.
London
do
do
Can Pac Office, London.
Can Pac Office, Montreal
Bank of Montreal, Toron.
&
J
J
&
J & D
J
&
J
&
J
&
F &
J
&
J 3 &
J
&
J
&
ies.
Total earnings__________ ..................$72,217 ,528
N et e a rn in g s______________ ............. ..$ 2 5 ,3 0 3 ,3 0 9
.............
2,3 6 4 ,4 8 0
Interest received__________
Where Payable, and by
Whom
lxxxv.
D
J
15
D
D
J
A
J
J
J
J
$1,000 $2,544,000
5 g
£1 0 0 &c £ 1 ,3 3 0 ,0 0 0
5 g
(6) 4
£ 5 0 &c
£20P ,000
6
£1 0 0 £ 2 ,0 0 0 ,0 0 0
5
£1 £4,00 7 ,3 8 1
£100
£71 9 ,0 0 0
4 g
5 g £100
£630 ,00 0
£ 90 4 ,5 3 3
4
£1
£ 1 ,1 2 1 ,7 0 0
4 g
$1,000 $1,040,000
4
500,000
1,000
4 g
ee statem ents of thos e compan
9 7 ,1 7 0 acres of Columbia and Kootenay grant; total, 1 2 ,3 2 5 ,4 9 6 acres.
In addition there will be acquired through the Columbia & Western R y .
about 2.500,000 acres. Total sales in 1906-07, 9 94.840 acres, for $ 5 ,8 8 7 ,3 77.
Tax decision, Feb. 27 1905. V . 80. p. 996.
G E N E R A L F IN A N C E S .— In 1902 stockholders subscribed for $ 1 9 ,5 0 0 ,000 new comm on stock at par, in 1904 fori$16,900,000 and in March 1906
for $20,2 8 0 ,0 0 0 at par. V . 74, p. 378; V . 82, p. 333, 691.
In Feb. 1907
about $5,00 0 ,0 0 0 pref. stock was sold. V . 84, p. 338.
Stockholders on O ct. 3 1907 authorized the issue of $8 ,0 0 0 ,0 0 0 consoli
dated debenture stock, v iz.: A t not over $20,000 per mile, to construct
various branches, aggregating about 300 miles; additional work on the
Sudbury branch, 226 miles, at $10,000 per mile, and three steamers; also
the lease of certain lines, &c. V . 85, p. 863, 1002.
The double-tracking
between Fort W illiam , O n t., and W innipeg, 427 m ., to be completed In
1908, will cost about $10 ,0 0 0 ,0 0 0 .
V . 81, p. 667, 1170.
In Sept. 1907
£ 1 ,2 5 0 ,0 0 0 4 % debenture stock was sold. V . 85, p. 599.
In July 1906 the last of the $ 1 5,000 ,000 land grant bonds was paid off,
leaving the land sales unencumbered; on June 30 1907 the balance due on
account of land sales was $15 ,8 5 4 ,6 1 2 , on which 6 % interest is received.
This Interest will be used to pay extra dividends on the common stock; 1 %
was paid during 1907. V . 83, p. 817.
E A R N I N G S .— 2 m o s .J 1 9 0 7 ____ Gross, $14 ,0 1 8 ,4 5 1 ; net, $ 5 ,0 7 7 ,1 2 8
July 1 to A u g. 31.
11906____ Gross,
12,1 3 8 ,4 2 0 ; net,
4 ,8 3 4 ,3 9 0
A N N U A L R E P O R T .— Fiscal year ends June 30.
Annual meeting Is
held at Montreal on the first W ednesday in October.
The report for 1906-07
In full was in V'. 85, p. 652, 726. See also editorial p. 690.
1906-07.
1905-06.
1904-05.
Miles ooerated end of year__________
9 ,1 5 4
8,777
8,568
Passenger earnings_________________ $1 9 ,528 ,878
$16,0 4 1 ,6 1 6 $13,583 ,052
31,72 5 ,2 9 0
39,512,973
Freight _____________________________ 45,88 5 ,9 6 8
5,1 7 3 ,5 4 0
6,115,169
Mali, express and miscellaneous___
6.802,682
[V ol.
RAILWAY STOCKS AND BONDS.
Mercantile Trust C o,N
do
do
Guaranty Trust Co, N
do
do
do
do
do
do
do
do
do
do
Savannah, Ga.
Guaranty Trust Co, N
Union Trust Co, N Y
Guaranty Trust Co, N
Y June 1 1948
Feb 1 1919
Y N ov 1 1945
Nov 1 1945
Jan 1 1946
Jan 1 1946
Dec 1 1945
Jan 1 1947
June 1 1926
Y June 1 1951
July 1 1947
Y Feb '0 8 -A u g 25
C EN TR AL BRANCH R Y — (See M a p M issouri Pacific.) — Owns Lenora
o Atchison K a n ., 293 m .; Jamestown to Burr O ak, K a n .. 33 m .; branches,
62 m .‘ Stock, $ 7 ,5 8 5 ,0 0 0 .
D ividend, 1 4 % , paid in year 1905-06.
The
$ 3 ,4 5 9 ,0 0 0 1st 4s of 1899 are guaranteed, prin. and in t., by the Mo. Pac.
(see V . 68, p. 329).
Form of guaranty, V . 7 0 , p. 279.
For year ending
June 30 1906, gross, $ 1 ,8 7 6 ,9 4 4 ; net, $793 ,73 9; other receipts, $ 7,669; in
terest, $238 ,36 0; taxes, $108,511; Improvements, $ 11,592 ; balance, surplus.
$ 4 4 2 .9 4 5 .— (V . 7 3 . p. 31.)
C E N T R A L OF G EO R G IA R Y .— (See M a p .)— System Includes:
Lines owned in fee.
M iles. Lines leased— (see these cos.) M ile s.
Savannah to A tla n ta........................ 29 5 Southwestern R R .—
Macon to E u fa u la .........................144
Gordon to Porterdale........................ 86
Fort Valley to Perry.................... 12
Columbus to Blrm’gham , A la . . . .1 5 6
Fort Valley to C o lu m b u s..
. . 71
Columbus to Am ericus...................... 62
Smithvllle to Columbia............... 85
Montgomery to Eufaula, A la . . . . 80
Cuthbert to Fort Gaines............ 21
Columbus to Greenville, G a .......... 49
Opelika to R oanoke........................... 36 Augusta & Savannah R R .—
Millen to A u gu sta........................... 53
Eufaula to Ozark................................ 60
Griffin, G a ., to C h at., Tenn. & C .1 9 8 Chattahoochee & Gulf R R .—
Columbia to Lockhart................. 91
Chickamauga to D u r h a m ............... 18
Savannah to T y b e e ........................... 18 Trackage ..............................................
1
Columbus to Andalusia................... 138
Total oper. July 1 9 0 7 .............. 1 ,9 1 4
Macon Junction to A th en s............ 102
Brewton to D over................................77
Barnesville to Th om aston............... 161 Also Meldrim to L yons, 5 8 miles
(leased to Geo. & A la . Rjr.—
Lyerly Branch....................................
9
Seaboard Air Line sys.)
Upper Cahaba branch____________ 10
Ocean Steamship C o., estimated
Greenville to R aym ond___________ 24
equivalent o f .....................................300
Total owned (and o p e r.). . . .1 .4 1 0
Extension from Greenville to R aym ond, G a ., under charter of Green
ville & Newnan R y ., 24 m ., was opened Feb. 1907; the line from Colum
bus to Greenville, 49 m ., being made standard gauge; a 10H -m ile branch
from near Leeds, A la ., to coal fields was opened July 1 1906. V . 8 0 , p.
2457; V . 8 1 , p. 210.
O R G A N IZ A T IO N .— Organized Oct. 17 1895 and N ov. 1 succeeded to the
properties of the Central R R . & Banking Co. of Georgia, foreclosed, per plan
In V . 60, p. 1008, and V . 61, p. 68. Controls W rightsvllle & Tennllle &
W adley Southern R y ., all of the bonds of latter being owned and deposited
to secure short-term notes due March 1 1912. V . 85, p. 605.
In June 1907 the stock, which was held by the Richmond Terminal re
organization committee since 1896 was sold to Oakleigh Th om e and Marsden
J. Perry, who In case of re-sale within two years will retain voting control
during that time on at least 60 % of the issue. V . 84, p. 1550.
S T O C K .— $5,0 0 0 ,0 0 0 ; see O R G A N IZ A T IO N above.
B O N D S .— The first mortgage of 1895 (described In V . 63, p. 1160) Js a
first lien on the main line from A tlanta to Savannah, Including the Mllledgevllle branch (312 m . In a ll), all equipment and appurtenances, and the equity
In $1 ,9 9 5 ,0 0 0 of the capital stock of Ocean Steamship Co. of Savannah.
N o dlv. was paid on Ocean Steamship stock In 1907.
V. 8 4 , p. 51’ 9 , 605.
Application for listing firsts and consols. In V . 63. p. 1160.
The consol, mort. (see abstract V . 61, p. 873; also V . 63, p. 1180; V . 83, p.
1347) Isa first lien upon 600 m . (Including former Mont. & Eufala R R ., Sav.
<5c W estern and Sav. & A t l.); also on the leases of the South western and
Augusta & Savannah roads and the stock of New England & Savannah
Steamship C o ., and a second lien upon the main line. Its equipment, &c.
and also on the Macon & Northern, Mobile & Girard, and other divisions.
It also covers all leaseholds, securities, &c. The remaining $300,000 are*
available for betterments and equipment. V . 85, p. 605.
M acon
Northern Division bonds are also direct obligations of the Cen
tral R y .. with flrsfllen from Macon Jet. to Athens. G a .. 102 miles.
M iddle Georgia &. Atlantic Division bonds — (V . 65, p. 823; V . 64, p. 180;
V . 65. p . 324.>
Collateral trust mortgage a b s t r a c t w a s In V . 4 5 , p. 242.
The Chattanooga Division mortgage is a first lien on the former Chatta
nooga R om e & Southern R R ., Carrollton, G a ., to Chattanooga. T e n n ., 138
miles, and Durham to Chickamauga, G a ., 17 miles, with branches. In all 164
miles, subject to $343,000 old 5s, for which a like amount of bonds Is re
served. V . 72 p. 1134; V . 7 8 , p. 1446.
Upper Cahaba Branch bonds are secured b y coal lands In Northern A la
bam a
V . 8 1 , p. 9 20. 1099.
The preference Income bonds, subject to the prior mortgages, cover the
main line and the former Savannah & W estern, Columbus & Roihe. Mont
gomery & Eufaula. Mobile & Girard. Macon & Northern ana Savannah &
Atlantic and other railroads, and their equipm ent, &c.
They are noncumulatlve and bear Interest not exceeding 5 % In any one fiscal year, but
payable only out of net earnings as declared.
In Oct. 1905 It was arranged
to attach coupons to Income bonds. V . 81, p. 974. 1174.
Dividends (% ) —
’96. '97. ’98. ’99. ’ 00. ’01. ’02. ’03. ’04. '0 5 . '0 8 . ’0 7 .
On 1st pref. Incomes l i t 2 H
2
2 3 )i
5
3
5
5
5
5
5
On 2d pref. Incomes 0
0
0
0
0
0
0
0
2
5
5
3.729
On 3d pref. Incomes 0
0
0
0
0
0
0
0
0
5
5
0
In Oct. 1907 the holders of $2,49 8 ,0 0 0 second preference and $1 ,3 5 0 ,0 0 0
third preference Income bonds, dissatisfied with the dividend declaration
In 1907, had deposited their bonds with a committee (Jos. F. Dale, 5 W illiam S t ., N . Y . , Secretary). V . 85, p. 529, 605, 653, 7 21, 792.
L A T E S T E A R N I N G S .— J1907............. Gross. $ 1 ,9 7 4 ,1 8 0 ; net, 5437,190
2 m os., July 1 to A ug. 3 1 .1 1 9 0 6 -----------Gross.
1 ,9 0 3 ,4 4 8 ; net,
37 ° ;A ,
A N N U A L R E P O R T .— Report for 1906-07 at length In V . 85, p. 59o, 604.
Years ending June 30—
1907.
1906.
Gross earnings............. ................................. $ 12,0 8 2 ,7 7 7 $ 1 1 ,396 ,123 $ 1 0 ,135 ,055
Total ooerating expenses---------------------$9,606,2161 $7,882,218
T a x e s ........................................................................................../
352,995
326,439
Net earnings from operation-----------$2,476,561
$ 3 ,160,910
Other sources_______________________ ____
311,939
274,621
Total net Income..................................... $ 2 ,788,500
$3,435,531
$ 2 ,7 1 7 ,0 8 8
2 4 8 ,3 6 4
$2,965,453
RAILWAY STOCKS AND BONDS.
O ct ., 1907.]
28
RAILWAY STOCKS AND BONDS.
R A IL R O A D S .
I N T E R E S T OR D I V I D E N D S .
For explanation of column headings, A c ., see notes
on first page of tables.
Miles Date
of
of
Road. Bonds
Size, or
Par
Value.
Amount
Outstanding
1905
1,000
$540,000
Cent of OaRy(Concl)— Greenv&New IstM g r e d l0 2 H N
1895
1,000
4.000.000
1st pref Incomes] Interest up to 5 % ____________ Mp
2d
do
do
f gold If earned_________________ Ce
1895
1,000
7.000.000
1895
1,000
4.000.000
3d
do
do J non-cum ulatlve_______________Ma
Central R R & Bk coll tr bonds gold red at 110-C e.c
1887
1,000
4.880.000
’00-1-5
115,542
Equipment trust notes July 31 19 0 7 ............... . ...........
'02-3 -5
’" iTooo
Locomotive & car trusts payable $131,000 s -a n -.c
905.000
867.000
1906
1,000
Equip trust ser H $51,000 s-a (V 82 p 2 1 7 ) .............
1906
1.720.000
Equip trust series I $115,000 s .-a (V 83, p 751) . . QP
1,000
1907
722.000
1,000
do
do
series K $38,000 sem l-an_____________
Short-term notes, secured by W adley Southern b d s.
650.000
50,000
Guaranteed, A c ., securities.
1,000 ,000
1,000
1890
Ocean SS Co first mortgage gold gu aranteed.-C e.c*
510 .000
Steamship bonds g ass’d by O SS Co $69,000 due s-a
’0 3 - ’04
1,022 ,900
100
Augusta <5c Savannah stock (no bonded d e b t)____
53
100
5,191 ,100
Southwestern Railroad stock (no bonded d e b t)____
333 -----436 ,400
100
Chattahoochee & Gulf sto ck _________________________
1,000
358 ,000
First M gold $2,000,000 lnt rental s f red at 102 }4
'9 1 190*0
1,000
1,500 ,000
Cent Indiana— 1st M $4,000,000 guar p&l end.C e.c*& r
117 1903
1.250 .000
1,000
Central New Eng— 1st M $ 1 ,250,000 call 1 0 5 ..F P .C *
58 1899
7.250 .000
1,000
58 1899
General M 5 % Incomes $ 7 ,2 5 0 ,0 0 0 ____________ FP.r
350 .000
1,000
Dutchess Countv R R — 1st M gold guar_______ Me.c*
12 1890
500 ,000
Poughkeepsie & Eastern 1st m ortgage_______________
35 1894
1,000
216 ,000
1,000
59 1891
Newburgh Dutchess & Conn coll b o n d s ____________
1,164 ,500
do
do
Income b o n d s ________
59 1877
1,000
Central Ohio— See Baltimore Sc Ohio.
Central Pacific—
500 <tc a 7 9 ,242,000
1st ref M $100 ,00 0,00 0 gold guar p & 1 en d . .Co.c* &r 1,349 1899
500 <Scc 16,743,500
3 }$ s $25,000 ,000 gold guar p & I e n d _______ Us.c* &r 1,349 1899
9,199,000
Lucln cut-off 1st M ., $ 1 0 ,0 0 0 ,0 0 0 ,ruar.,text d .c*& r
103 1904 1,000 &c
8,821.908
Notes for U S debt due $2,940,635 half-yearly____
. . . 1899
.......100 27,436,800
Central RR of N J— Stock ($30 000,000 authorized) __
1,000
29,000
1*883
Convertible debentures________________________________
All
1887
500 &C\ b 45 ,091,000
Cent R R of N J gen M for $50,000 ,000 gold.C e.c& r
500 & c /
All
1887
do
de
registered_________________
Guaranteed Bonds—
1875
1,000 1 2,175,000
Leh & W llkesb Coal con M guar p & 1 ext In 1900
2,691,000
1,000
5s of 1912 s f not guar (not d r a w n )___________ FP.c
1888
S. Gove rnment.
a Of the balance, $ 8 ,821,908 Is retained as coll. for notes by U.
Years ending June 30—
1907.
Interest on funded debt, & c____
$ 1 ,862,683
Rentals and miscellaneous______
477,691
Dividend on 1st incomes_______ (5 % )2 0 0 ,0 0 0
Dividend on 2d in c o m e s ..(3 .7 2 9 % )2 6 1 ,0 3 0
Dividend on 3d In co m es_______
___________
1906.
$1,753,219
431,641
(5 % )2 0 0 ,0 0 0
(5 % )3 5 0 ,0 0 0
(5 % )2 0 0 ,0 0 0
1905.
$ 1 ,737,458
373,478
(5%) 200,000
(5 % ) 350,000
( 5 % ) 200,000
Balance for year_______________ def.$12,904 sur.$500,671
sur.$104,517
O F F IC E R S — Pres., J. F Hanson, Macon, Ga.
Directors Oct. 1907,
V . 85, p. 1004.— (V . 85, p. 1004.)
C E N TR A L IN D IA N A R Y .— Muncie to Brazil, In d ., 127 m .. of which 10
lA. trackage. V . 7 6 , p. 653. Controlled by Cleve. Clncln. Chic. & St. L. and
Penn. R R . Interests. Bonds guaranteed by Cleve. Cln. Chic. & St. L ., are
limited to $20,000 per mile; outstanding, $1,5 0 0 ,0 0 0 .
(V . 7 7 , p. 5 17, 2279;
V . 7 8 , p. 1906, 1961.)
Stock authorized, $120 ,00 0. Calendar year 1906,
gross, $161,788; def. under oper. e x p ., $33,970 .
In 1905, gross, $167,518.
Pres., Joseph R obinson.— (V . 7 7 , p. 2279; V . 7 8 , p. 1906, 1961.)
C E N TR A L N E W E N G L A N D R Y — Owns from Campbell H all, crossing
the H udson River at Poughkeepsie b y its own bridge, to Silvernails, 58 m .;
Poughkeepsie, N . Y . , to Hopewell, 12 m .; Dutchess Jet., N . Y . , to State
line, 59 m .; Poughkeepsie, N . Y . , to Boston Corners, 35 m .; total owned,
164 miles; and leases and controls Hartford & Conn. W estern R R ., Hartford
to Rhlnecllff, 109 m .; W lcopee J et., N . Y . , to Fishkill L d g ., N . Y . , 2 m .;
total, 293 miles. V . 72, p. 1273; V . 73, p. 337; V . 76, p. 435; V . 84, p. 1427.
O R G A N I Z A T I O N .— In June 1907 the Newburg Dutchess & C onn.,
Dutchess County R R ., Poughkeepsie Bridge R R . and Poughkeepsie &
Eastern were.merged. V . 84, p. 1550.
On June 30 1907 the New York
New H aven & Hartford R R . owned $3,38 2 ,8 7 6 preferred and $ 4 ,394,795
com mon stock; also $ 6 ,318,123 of the $ 7 ,250,000 Income and $190,000 first
m tge. bonds, the $500,000 Poughkeepsie & Eastern bonds, all of the $216,000 coll. and $1,15 6 ,5 0 0 Income N . D . & Conn. bonds and $900,000 (total
Issue) of Cent. N . E . notes. V . 85, p. 404, 858.
In Feb. 1907 a committee
(with Empire Trust C o., N . Y . , as depositary) requested deposits of general
m tge. bonds and stock not owned by New Haven road, the same to be re
turned if not sold by Feb. 10 1908.
V . 84, p. 449, 693, 1550: V . 85, p. 404.
S T O C K .— The stock is to be held In voting trust for ten years, or until 4 %
Interest Is paid on general m ort. for two years. Voting trustees, J. P. Mor
gan, W m . Rockefeller, Charles F . Choate, Charles F. Brooker and Charles
Lanier. Common, $4 ,8 0 0 ,0 0 0 ; pref., 4 % , $ 3 ,750,000; par, $100.
E A R N I N G S .— 12 mos.ending June 30 t293 miles, against 256 In 1 9 04 -05 ):
12 M o s .—
Gross.
N et.
Other In c. Charges.
Balance.
1906-07 ...........$ 2 ,153,367 def.$431 ,047
$50,548
$267,070
def $647,569
1905-06 ........... 1 ,679,450
170,909
53,312
216,699 sur.
7,522
O F F IC E R S .— C. S. Mellen of New H aven, Pres.; A . S. M ay, Treas., and
J. G. Parker, Sec.— (V . 84, p. 1550: V . 85, p. 159, 220, 404.)
C EN TR AL PACIFIC R Y .— (See M a p of Southern Pacific.)
M iles.
Lines owned—
M iles.
Umbria to Cecil____________
. . 103
San Francisco, C al., to near
Ogden, U ta h _________________
871 Branches to San Jose, & c.
..
31
Trackage—
Lathrop, C al., to Goshen, C a l .. 146
Roseville Junction, C al., to
Into Ogden, & c ____________
Oregon State L in e............... ...... 296
T o ta l............................................... 1.458
O R G A N I Z A T I O N .— Incorporated In Utah In July 1899 as successor of
the railroad under the plan of readjustment In V . 68 p. 378.
S T O C K .— (1) Common stock, $ 6 7 ,2 7 5 ,5 0 0 , all held by So. Pac. Co.
(2J Preferred stock, 4 % cum ulative, authorized issue $ 2 0 ,0 0 0 ,0 0 0 , to be
delivered to So. Pac. Co. In consideration of Issue of equal amount of So.
Pac. Co. 4 % collat trust gold bonds; of which delivered on completion of
readjustm ent, $12 ,6 0 0 ,0 0 0 : reserved to be delivered only to provide addi
tional funds. If required, for the payment of 3 % notes to the United States,
and thereafter only for betterments and additions, $ 3 ,000,000; reserved
to be delivered for Improvements and additions at not over $200,000
yearly, $5,0 0 0 ,0 0 0 ; outstanding, $ 1 3,200 ,000 .
B O N D S .— First refunding M . gold 4s, $ 1 0 0 ,0 0 0 ,0 0 0 , secured by all the
railroads, terminals and eaulpment now owned, Including about 1,349
miles of first track, &c. O f the authorized Issue, $ 8 ,821,908 Is held by
the United .States as collateralfor 3 % notes and $11,7 6 3 ,6 0 0 were In Auer.
1907 held In the treasury. See abstract, V . 69, p. 808, and V . 70, p. 739
V . 78, p. 228.
Thirty-year gold 3 V$s, $ 2 5 ,200 0,00 0, secured by a second lien upon all the
properties covered by the 1st ref. m ortgage, and also by deposit with the
Trustees, as acquired, of all securities and moneys held In any sinking fund
of the Central Pacific R y ., consisting July 1 190f> of $ 8 ,755,720 In securi
ties and $360 cash, and by a trust deed upon all the lands covered by the
mortgage dated O ct. 1 1870. See Mortgage A bstract, V . 69, p. 858; also
se« p. 851.
From the proceeds of these sinking funds and land sales can
cellation of bonds will be made from time to time; In F e b .1900 $ 2 ,505,000
3v^s were canceled and to June 1907 $ 3 ,760,000 additional had been can
celed, reducing those outstanding to $ 1 6,743 ,500 .
V . 70, p. 739, 1194.
Twenty three-per-cent notes, aggregating $58 ,8 1 2 ,7 1 4 , Issued to the Gov
ernment in settlement of subsidy debt; $49,990 ,806 paid, leaving $ 8 ,8 2 1 ,9 >8 to mature, $ 2 ,940,635 half-yearly hereafter to Feb. 1909.
First re
funding 4s are deposited to retire them .
The 4 % guar, bonds on the Lucln cut-off are redeemable at 107
on
O ct. 1 1909 or any lnterestday thereafter.
V . 7 9 , p. 1641. Form of guar
a n ty , V . 80, p. 162.
L A N D G R A N T .— Total land grant was about 12,000,000 acres, of which
about 7,7 1 4 ,0 6 0 acres remained unsold on June 30 1906.
Sales In 1905-06,
11,997 acres; cancellations, 4,007 acres. Land contracts July 1 1906—
principal, $274,265; average price per acre, $1 55.
R E P O R T .— In 1905-06, gross, $ 2 6 ,827 ,020 ; net, $10 ,7 0 1 ,6 8 2 ; other In
com e, $716,200; Int., taxes, sinking funds, & c., $6,3 7 8 ,5 4 0 ; b a l., sur.,
55.039 342.— (V 80. p. 162. 471. 649. 871; V . 81, p. 1174.)
C E N T R A L R R . OF N E W J E R S E Y .— (See M a p Reading System .)—
Operates from Jsrsey C ity, opposite New York C ity, westerly to W llkesbarre and Scranton, P a ., and the neighboring anthracite coal fields; also
southerly to the seashore resorts of New Jersey, &c.
|V o l .
Rate
%
When
Payable.
M
Where Payable, and by
Whom.
lxxxv.
B onds— P rin ci
pal. When Iiu e„
Stocks— Last
Dividend.
4 g
5 In 1907
3.729 ’07
5 In 1906
5 S
& 6
4H
g
4\i g
5 g
& S
Oct 1
Oct 1
Oct 1
M & N
Mo & qu
Various
F & A
J
&
J
M & S
Guaranty Trust Co, N Y
Guar Tr Co, N Y or Sav
do
do
do
do
Guaranty Trust Co, N Y
do
do
Blair & Co. N Y
do
do
Kountze Bros. N Y
do
do
Mar '08-S ep ' 2 *
N ov 1 1945
N ov 1 1945
Nov 1 1945
M a y l 1937
T o Sep 1910
T o Jan 1912
T o Feb 1916
To Julv 1916
To Mch 1 1917*
Mch 1 1912
5 g
5 S
5
5
5
5 g
4 g
5 g
5 e
4 H (6)
5
5
6
Guaranty Trust Co, N Y
Blair & Co, N Y
Savannah, Ga
Savannah and Macon
Savannah, Ga.
Citizens’ B k, Savan’ h, Ga
M & Central Trust Co, N Y
Fid I T & S D Co, Phlla
F &
Yearly If earned
Oct 1
J
& D Fid I T & S D Co, Phlla
M & N
M & N
If earned
July 1 1920
T o July 1911
July 1907 2 X
July 1907 2 H %>
July 1 1907 2 K
July 1 1930
May 1 1953
Feb 1 1910
Feb 1 1949
June 1 1940
N ov 1 1934
Mch 1 1921
June 1 1977
4 g
3H g
4 g
3
8 In 1907
6
r 5 g
L 5 g
F
J
A
Aug
Aug
Oct
Feb
Q— F
Office 143 Liberty S t, N Y N ov
M & N Liberty N at Bank, N Y M ay
July
do
do
J
&
J
July
do
do
Q— J
&
&
&
A 120 Broadw ay, N Y
do
do
D
O New York
1 1949
1 1929
1 1954
’08-F eb ’ 0B>
1 1907 2 %
1 1908
1 1987
1 1987
June 1 1910
do
do
Q— M
4H
N ov 1 1912
do
do
M & N
5
b Includ es $1,167 ,000 In treasury July 19 0 7.
H I S T O R Y .— Chartered In 1849.
From M ay 1883 to Jan. 1 1887 leased
to Philadelphia & Reading. Receivers were in possession from Jan. 1 1 8 8 7
till January 1888.
Reorganized In 1887 without foreclosure— see plan V .
44, p. 7 14, 716. Concerning coal properties, see Lehigh <5c WUkesbarre la
“ Su pp.” of Jan. 1903 (p. 159), and Lehigh Coal & N av. In "M iscellaneous.’
In Jan. 1901 Reading Co . acquired $14 500.000 of the stock. V . 7 2 , p . 86,.
136, 241, 391, 7 21.
On June 30 1907 owned $1 ,6 0 0 ,0 0 0 Lehigh valley
R R . stock. V . 8 1 , p. 971.
M ile s.
Lines owned in fee—
M iles.
Nesquehonlng V a lle y * ____________ 1 7
Jersey City to Phlllipsburg_______ 72
Lehigh & Susquehanna, PhllllpsSundry branches_________________ 84
burg to Union J e t., & c________ 171
Entire stock owned—
New York & Long Branch R R .,
WUkesbarre & Scranton*________
&
Other lines_________________ . . . . . .
8Perth A m b oy to B ay H ea d ____ 38
Trackage—
New Jersey Southern R R ., Long
Union Coal R R _________________ _ 1ft
Branch to A tsion, & c___________ 76
3Other lines (no d e b t)______________147 Allentown Term . (oper. jo in tly ). .
Leased (mostly for 999 years) —
Other trackage____________________
#■
Ogden Mine R R * ________________ _ 10
Total operated July 1907______64&
•See this com pany.
There are 263 miles of second and 30 miles of four tracks. In July 1805
New Jersey Term inal R y ., 7 miles, was acquired. V . 81, p. 506.
D I V .— "I’91. ’92 to ’94. '9 5 . 96. ’97. '9 8 . ’9 9 . ’ 00. ’ 01. 1902 to N o v ’ 0 7 .
P . C.J6H 7 yearly. 5 H
5 4M
4
4
5
5
8 yearly (Q .-F .>
B O N D S .— For general mort. abstract see V . 45, p. 402.
The L. & W . coal mortgage Is for $ 1 5 ,000 ,000 ; the bonds, formerly 7 s, 01
which $ 1 2,175 ,000 have been Issued, were In 1900 extended at 4 H % a n a
guaranteed principal and Interest. See guaranty. V . 7 1 . p. 26.
Jointly and severally with the Lehigh Coal & N av. Co. guarantees $ 1 ,0 8 2 ,000 Lehigh & H ud. R iv . R y . Gen. 5s, prin. and Int. See V . 6 7 , p. 788.
Equipment Mortgage 4s. Interest at Liberty National Bank, N . Y . C ity.
($1,000 each.)
Date. Interest. Outstanding. Instal. of P rin. due Y ’lVS e r . A & B _________ 1899-02 4 % Var. $ 1 , 5 9 0 ,0 0 0 $420,000
1908 to 1912
.Ser. C ________________ 1903 4 % A & O
2 ,100,000
350,000 to April 1 191SSer. D ($ 1 ,2 0 0 ,0 0 0 )-.1 9 0 5
4 % M & S In treasury 150.000 to March 1915'
3 50.000
1908 to 1916
Ser. E ($3,150,000) ..1 9 0 6
4% F& A
do do
(?)
1908 to 1917
Ser. F ($ 1 ,1 0 0 ,0 0 0 ) ..1 9 0 7
4% J& D
do do
E A R N I N G S .— For 2 months ending A u g. 31:
2 months—
Gross.
N et.
Charges.
B a l., sur.
1907 _______________ $5 ,1 0 0 ,7 8 6
$ 2 ,346,164
$1,217,071
$1 ,1 2 9 ,0 9 1
1906 ............................ 4,6 5 7 ,5 6 9
2 ,374,180
1,271,180
1 ,1 0 3 ,0 0 0
Charges in 1906 include $222,180 for additions and improvem ents; n o n e
included In 1907.
A N N U A L R E P O R T .— The report for 1906-07 was in V . 8 5 , p. 7 8 5 .
Earnings from—
1907.
1906.
1905.
M erch an d ise.................................................. $ 9 ,288,920
$ 8 ,671,217
$ 7 ,4 7 1 ,0387,885,38&
7,462,065
Coal ..................................................................
8,534 ,3>>6
3,4 4 1 ,2 0 2
3,920,552
4 ,2 4 7 ,3 5 9
Passengers ____________________________
353,451
372,603
Express and m a i l ______________________
520,395
1 0 8 ,0 3 7
96,594
M iscellaneou s_________________________
181,528
Total gross earnings rail lines_______$ 2 2 ,772 ,568 $20,523,031 $ 1 9 ,2 5 9 ,1 1 7
$9,86 5 ,8 5 5
$ 9 ,282,625N et earnings ...................... - ........................$ 1 0,913 ,626
Other Income___________________________
1,785,312
1,606,565
1.566.34J*
Total net Income..................................... $12,698 ,938 $ 1 1 ,4 7 2 ,4 2 0 $10,848 ,971
$2,86 9 ,6 2 6
$ 2 ,8 3 0 ,2 0 0
Interest on debt............... - ........................$3,03 8 ,2 8 9
Rentals p a i d ......................... ........................
2,7 6 5 ,2 1 3
2 ,3 8 6 ,3 8 0
2 ,528.3051 ,112,558
556,710
458,041
T a x e s .................... - ...................- ................ 3,512.061
3 ,373,799
2 .6 9 7 ,7 0 2
Renewal funds, & c.....................................
D iv id e n d s ........ ........................................... (8)2 ,1 9 4 ,8 4 4 (8)2.1 9 4 .4 2 4 (8 )2 .1 9 3 ,7 0 4
Balance, surp lus....................................
$75,973
$91,481
$141 ,01 5— (V . 81. p. 1241, 1847; V . 83, p. 6 8 5 ; V . 85. p. 721, 785.)
C E N T R A L R R. OF P E N N S Y L V A N IA .— Owns Belleronte (Penn. R R .)
to Mill H all. Pa.(Penn. D lv. of N .Y .C .& H . R . R R . ) . 27 miles; branch, 5 m .
Current liabilities June 30 1906, $752 ,73 4. For year 1905-06, gross, $ 1 0 1 ,250; net, $36,293; ch gs., $47,737; d e f., $11,444 . S t k ., $1,2 0 0 ,0 0 0 ; par, * 5 0 .
C E N T R A L R R . OF SOUTH C A R O L IN A .— Owns from Lane. S. C ., t o
Sum ter, S. C ., 4 0.2 miles, spurs. & c., 1.61 m .; total, 41.81 m .
Leased t«x
Atlantic Coast Line R R .; rental, $31,000 yearly and taxes. Stock .
$1 70 ,00 0. par $50.
In 1905-06 rental $31,000 ; gen. e x p ., $285; In t., $ 1 8 ,000: dlvs. ( 8 % ) . $13,600; b al., d e f.. $ 8 8 5 .— (V . 64, p. 887.)
C E N T R A L R Y OF SOUTH C A R O L IN A — V . 8 2 , p. 927.
C E N T R A L VERM ONT R Y .— Operates from Rouse’ s Point, at north en<£
of Lake Champlain, to New London, C onn., with branches 536 miles In a ll,
of which 196 miles leased, viz.: New London & Northern (see that CO.),
157 miles; Montville Branch, 3; W est River R R ., 36 m .
O R G A N I Z A T I O N .— Succeeded M ay 1 1899, per amended plan In V . 6 7 ,
p. 7 35, the Central Verm ont Railroad, foreclosed. V . 6 8 . p. 1076.
S E C U R IT IE S . <Jcc.— The Grand Trunk R y . holds $ 2 ,185,100 of the $3 .000,000 stock, and under a traffic contract will make good any deficiency
In earnings to meet Interest on the new firsts up to 30 % of Grand Trunk
gross receipts from traffic Interchanged.
Form of guaranty, V . 85, p. 2 8 3 R E P O R T .— For year ending June 30 1905, In V . 81. p. 1488:
Year—
Gross.
Net.
Oth. income.
Charges.
Bal. ■ sur.
1 9 0 6 -0 7 ____ $ 3 ,833,088
$688 ,38 0
$13,840
$700,407
$1,81.*
1 9 0 5 -0 6 ____ 3 ,836,976
686,628
13,840
695.952
4 -5 15’
Officers.— Pres.. Charles M . H ays; Clerk and T reas., W . H . Chaffee. St
Albans, V t .— (V . 83. p. 1227; V . 84. p. 930; V . 8 5 . p. 2 83, 1005.)
C H A R L ESTO N T E R M IN A L CO.— R O A D .— Owns terminal road In
Charleston. S. C .. 3 miles; double track laid with 60-lb. steel.
Company also owns 14 wharves. 30 warehouses, about 30 acres of land.
4 cotton compresses. & c .. on the city’s water front, these being connected,
by Its own road with the other railroads entering the city.
A reorganization,
of the East Shore Terminal C o.'s R R ., foreclosed July 14 1903; V . 7 7 . p . 148
298.
Stock, $200 ,0 0 0 , owned Jointly by Atlantic Coast Line R R . and
Southern R y ., which agree to make good any deficiency In Interest on bon d s.
29
RAILWAY STOCKS AND BONDS.
O c t .. 1907.,
30
[701.. LXXXV.
RAILWAY STOCKS AND BONDS.
R A IL R O A D S .
F or explanation of column headings, A c ., see notes
on first page of tables.
M iles
Date
of
of
Road. Bonds.
Central RR of N J (Concluded)
___ 1881
A m Dock & Im p Co 1st M guar redeemable at l lO .c *
N Y & Long Branch gen M gold ($192,000 5s) ..C e
38 1891
___ 1890
Lehigh & Hud R lv gen M gold guar Jointly _-Ce.c*
___ 1893
Central RR of Pennsylvania— 1st M $ 1 .200,000 . . FP
40 1881
Central RR of South Carolina— First mortgage gold c
Cent Ry of S Car— 1st M $150,000 g gu r e d ______CP
7 1906
___ 1906
Central & Southeastern—First M $2,250,000 g old ____
Central Verm ont— Stock $ 3 ,0 0 0 .0 0 0 .._____ __________
All ~ 1899
First M $12,000 ,000 gold traffic guaranteed. A B .c& r
___ 1905
Car trusts $15,000 or $16,000 due quarterly_______
__
Car trusts $20,000 due yearly (V . 83, p. 7 5 1 ) _______
1906
40.-; 1900
Montreal & Province Line R y 1st M guar p & I ____ c
Charleston & Savannah— See Atlantic Coast Line R R .
Charleston Terminal— 1st M $ 1 ,000,000 g o ld ._S .c *& r
1903
...
_
Charleston I n Sta.— 1st M $400,000 g gu (text) Eqc* &r
1907
Chari & W est Car— 1st M gold ($8,000 p m) _.C e.c*& r
340 1896
___
1896
Income M gold non-cum ($7,000 per m ile )____ G.c*
Augusta Terminal R y 1st M gold guar p & 1 en d _.C e
1897
Charlotte Monroe & Columbia— 1st M $70,000 g o l d ..
22 1902
Charlotte Columbia & Augusta— See Southern R y.
Chartiers— First mortgage $625,000 gold ____________ c*
23 1901
Chat & Lake Placid— Sar & L Placid 1st M gold Ce.c*
10 1893
Chattahoochee Valley— 1st m ortgage________________ 10 1896
_ .A B
Con mortgage $ 1 1 0 ,0 0 0 ___ ______ ___________
16>$ 1900
Chattanooga Stat— 1st M $1,00 0 .0 0 0 g gu (text) Tac &r
1907
Chesapeake Beach— First mortgage $1,000,000 g .N .c *
*34 1898
_
____
Chesapeake & Ohio— Stock (transfer agt J P M & Co)
Mortgage 6s gold Series A _____________________ Ce.c* 1 494 1878
do
do Series B ............. ..................... ..C e .c * \ 424 1878
First mortgage of 1911 Peninsular Extension gold.c* J
74 1881
Terminal 1st M 1922 covering 8 miles to Phoebus g.c*
10 1882
First consol mortgage for $30,000 ,000 g o ld .C e .c’ &r
697 1889
R ichmond & All D iv 1st cons M gold (see text) .C e.c*
241 1890
Second cons M Rich via Lynchb to Clifton F ..C e
241 1890
Craig Valley Branch first mortgage g o l d .. ..C e .c *
26 1891
W arm Springs Branch first mortgage g o ld ___Ce.c*
25 1890
General mortgage (for $70,000 ,000 &c) g o ld ..C e .c * 1,400 1892
c Guaranteed Jointly with Lehigh Coal & Naviga tlon C 0
Size, or
Par
Amount
Value. Outstanding
When r Where Payable, and by
Payable.]
Whom.
B onds— Princi
pal, When D u e.
Stocks— Last
Dividend.
$1,000 $4,987,000
5
J
&
J Liberty N a t B ank, N Y
1,000
1,891,000 4 & 5 g M & S
do
do
1,000 c 1,062,000
J
& J National Exch B k, N Y
5 g
500 &c
600,000
6
M & N Fid I Tr & S D Co, Phila
1,000
300,000
J
& J Cuyler, M orga n * Co, N Y
6 g
500
150,000
J
& J Colonial Trust Co, Pitts
6 g
100 &c See text.
5 g
J
&
.)! Lincoln Trust Co. N Y
3,000,000 $2,185.1 00 held biy Grand Trunk R y o f Can
100
1,000 &c 10.654,500
Q— F iBlair & Co .N Y ; & Boston
4 g
1,000
465,000 4 ^
Q— M
Blair & Co. New York
180,000
Q— F
Royal Trust Co, Montreal
100~ &c
200,000
A & 0!A a ie r L & Tr Co, Boston
4 S
July
Sept
July
M ay
July
Jan
Jan
ada.
M ay
Mar
Aug
Oct
1,000 &c
1,000 &c
1,000
1,000
1,000
1,000
J
J
A
& J;Standard Trust Co, N Y
& J|New York
& O 'Central Trust Co, N Y
Oct
Guar Tr, N Y , If earned
A & O Central Trust Co N Y
A & O Rich T & S D Co, R lch.V
July
Jan
Oct
Oct
April
Oct
A & O Co. s Office, PIttsb’ gh Pa
M & Nf32 Nassau Street, N Y
J
T)
J & J15:Am er L & Tr Co, Boston
J
& J|New York
J
&
J In default
Yearly J P Morgan & Co, N Y
A & O
do
do
M & N
do
do
A & O|
do
do
J
do
do
& D
M & N
do
do
& J
J
do
do
J
& J
do
do
& J
J
do
do
M & S
do
ao
M & S
do
do
Oct 1 1931
Nov 1 1913
Dec 1 1916
July 15 1920
Jan 1 1957
July 1 1923
N ov 30 1906 1 %
July 1 1908
July 1 1908
Jan 1 1911
June 1 1922
M ay 1 193#
Jan 1 1989
Jan 1 1989
July 1 1940
March 1 1941
March 1 1992
1,000
1,000
1,000
1,000 &c
1,000
100
1,000
1,000
1,000
500 &c
1,000
1,000
1,000
1,000
1,000
1,000
Pres., W m . E . Huger; Treas., R . D. Lankford; Sec., Henry Fraser.
E A R N I N G S .— Gross, year ending June 30 1905, > 181,403; net. $ 8 4 ,6 8 9 ;
total deductions, $41,273; b a l., su r., $ 4 3 ,4 1 6 .— (V . 77 p. 1 4*.)
C H A R L E STO N U NIO N ST AT I ON CO.— Owns passenger station at Charles
to n , S. C ., used by Atlantic Coast Line and Southern R y ., which each own
one-half the stock and guarantee the bonds, p. & l .,b y e n d .
V . 8 4 , p. 50.
C H A R LESTO N & W E S T E R N C A R O L IN A R Y .— Port R oyal. S. C ., via
Augusta, G a ., to Spartanburg, S. C ., 245 m .; branches to Anderson and
Greenville, S. C ., 96 m .: leased, 2 m .; total. 341 m . A consolidation O ct. 3
1896 after foreclosure sale. Entire stock and portion of Income bond* were
acquired by Atlantic Coast Line In Dec. 1897. V . 66 p. 38, 335.
D lv . on
Incomes. 2 % for 1903-04; 3 % for 1904-0').
S T O C K .— $ 1 ,200,000; par, $100. See Augusta Term . R y . V . 6 6 , p. 3 83.
E A R N I N G S — For year ending June 30 1906, gross, $ 1 ,5 1 3 ,1 5 9 ; net,
$28 2 ,6 5 6 ; other Income, $21,2 9 1 ; Int. on bonds, $ 1 72 ,00 0; surplus. $ 1 31 .94 7.
P res., J. B. Cleveland; S e c .,R . D . Cronly, Petersburg, V a .— (V . 7 3 , p .1207.)
C H A R L O T TE MONROE & C O L U M B IA R R.— M cBee, S. 0 . , on Seaboard
Air Line, to Jefferson. 22 m . Stock, $48,0 0 0 . The Richmond Trust <Ss Safe
Deposit Co is mortgage trustee. V . 7 5 , p. 1030. For year ending June 30
1 9 0 6 ,gross,$28,608; net, $16,071 . Pres., Ernest W illiam s.— (V . 7 5 , p .1030.)
C H A R T IE R S R Y .— Owns from Carnegie. P a ., to W ashington, P a .. 23 m .
Stockholders of W estern W ashington and Meadow Lands & Zedlker R R .,
together 8
miles, voted Sept. 3 1907 to merge those roads In the Chartlers
R y . V . 85, p. 159.
Leased till 1971 to P itts. Cin. Chic. & St. Louis;
Capita) stock, $644,800 (par $50), Pennsylvania Co. owned June 30 1907
$640 ,85 0.
In Feb. 1907 the Pitts. Cin. Chic. & St. L offered to exchange
3 shares of com . stock ($300) for one share ($50) of Chartlers stock. V . 84,
p. 390. D iv s., A . & O ., since 1905, 1 0 % .— (V . 84, p. 390; V . 85, p. 159.)
C H ATE AU G AY & L A K E P L A C ID R Y .— (See M a p Del. A Hudson.) —
Operates from Platts burg. N . Y . , to Lake Placid, 80 miles, of which Piattsburg to Dannem ora, 16 miles. Is leased from State o f New York for $1 and
free transportation of freight to the State’s Prison at Dannem ora.
Stock, $ 3 ,4 5 0 ,0 0 0 , of which $ 3 ,0 0 0 ,0 0 0 Is 4 % pref., the latter all owned
by D . & H . V . 8 4 , p. 50.
Leased to the Delaware & Hudson until Dec.
31 2 403 , any balance over expenses of operation. Interest, taxes, m ainte
nance, dam ages, dividend on pref. stock, A c ., to go to the lessor. The lease
Is subject to revision at 5-year Intervals after Jan. 1 1908. on request of
either party. V .8 1 , p .613. There are also $24,000 Saranao & Lake Placid
2d 5s due N ov. 1 1913.— (V . 81, p. 613; V . 8 4 . p. 5 0 , 930.)
C H A TT AH O O C H E E & G U L F R R .— Colum bia, A la ., to Floralla. 92 m .
L E A S E .— Leased In 1900 In perpetuity to Cent, of Georgia R y . for 6 % on
$ 436 ,40 0 stock and $358 ,00 0 bonds, of which 1 % to be used as a sinking
fund for retirement of bonds, upon completion of which rental will be 5 % on
stock, payable J .-J . See Cent, of Ga. R y .— (V . 77. p. 2279; V . 8 1 . p . 1722.)
C H A TTAH O O C H E E V A L L E Y RR — W est Point, G a .. to Jester, A la .16H m.
Extension north from W est Point, 16 m ., was under construction
in A ug. 1907.
Stock authorized, $ 1 ,0 0 0 ,0 0 0 ; outstanding, $110 ,00 0; par of
shares, $100.
Bonds, see table above.
For year ending June 30 1906,
gross, $35,272 ; net, $ 1 4,080 ; other Income, $336; int. on bonds, $3,000.
CH ATTA N O O G A SOUTH ERN R R .— Owns road, completed In June 1891,
from Tennessee State line to Gadsden, A la ., 87 m .; Round M t. branch, 3 m .;
trackage to Chattanooga, 5 m .; sidings and spurs, 10 m .; total of all-tracks,
105 m .
Successor to Chattanooga Southern R y ., sold In foreclosure Feb. 14
1895; plan In V . 61, p. 830.
On April 23 1907 W . W . K ent and E. C.
Osborne, 31 Nassau S t ., N . Y . , were appointed receivers. V . 84, p. 995.
Year ending June 30 1907, gross, $160,452; deficit under operating
expenses, $3,8 4 0 .— (V . 84, p. 995.)
CH A TT A N O O G A STATION CO.— Owns union passenger station and ap
proaches at Chattanooga, T e n n ., used by the Southern R y ., Cent, of G a ..
A labam a G t. Southern and Cin. N . O. & Tex. P ac., which each own one
fourth of the stock and guarantee the bonds jointly and severally, principal
and Interest, by endorsem ent.— (V . 84, p. 50.
CH E SA PE A KE BEACH R Y .— W ashington, D. C ., to Chesapeake Beach,
M d ., 34 m.
In July 1905 David H . Moffat, who owns about 9 9 % of both
stock and bonds, obtained judgm ent on a promissory note for $ 1 ,2 2 2 ,8 0 0 .
Foreclosure pending; Interest alleged to be in default since 1901.
V .8 1 ,
p. 263, 974.
Stock, $1 ,0 0 0 ,0 0 0 ; par, $100.
Pres., W . F. Jones, Den
ver, C ol.; Sec., Paui Y . W aters.
Office, 1416 New York A v e ., W ash
ington, D . C .— (V . 81, p. 263, 974.)
C H E S A P E A K E & OHIO R Y .— (See M a p .) — Operates from N ew port
N ew s, V a ., and W ashington, D . C .. to Cincinnati, O ., and Louisville, K y .,
with branches.
M ile s.
IAnes owned in fee—
M iles.
Bridge— Covington, K y ., to Cin
Old Point Comfort and Newport
cinnati, O hio.....................................
2
N ew s, via Charlottesville to
Lines leased—
Big Sandy R i v e r ...........................512
Richmond via Lynchburg to Clif
Sundry branches leased.................... 25
ton Forge, V a .................................. 230 Trackage to Louisville...................... 84
Branches In Va. and W . V a . ______432 Trackage to W ashington, D . C . . . 85
Lines controlled by slock, A c .—
Other trackage..................................... 31
Big Sandy River to Covington 150
D enton, K y . , to L exington............ 103
Big Sandy Jet. to Elkhorn City,
with branch________________
. .1 2 8
Total system June 30 1907 . . 1 , 8 3 2
Branches In K en tu ck y...................... 50
Second track (250 ow n e d )............ 346
Also owns one-sixth Interest In the R lchm ond-W ashlngton Co.
H I S T O R Y , & c.— In 1888 reorganized without foreclosure, and the road
extended to Cincinnati. Th consolidation with the Richmond&Allegheny
was consummated In Jan. 1890; with Elizabethtown Lexington & Big Sandy.
& c.. In 1892, and with Greenbrier and other roads in 1903.
The C. & O.
R y . of K entucky was consolidated July 1 1907 with The C. & O. R y ., its
property being pledged under the general mortgage.
V . 84, p. 1181.
C A P IT A L S T O C K .— Common stock autiioriz«'jl, •unlimited” ; outstand
ing $62,7911,700; Increased from $40,000 ,000 to this Dgure since 1892
through exchange of practically all the $ 2 5 , 0 0 0 .ooii of preferred stocks for
com m on stock and general mortgage 4 H per cents In certain proportions,
I N T E R E S T OR D I V I D E N D S .
R ett
%
800,000
250,000
2,720,000
2,380,000
600,000
70,000
4
4
5
5
6
5
g
g
g
g
g
625,000
3H g
120,000 5 (6) g
50,000
6
60,000
5
850,000
4 g
1,000,000
5 g
62,799,100 1 In 1906
2,000,000
6 g
13,354
6 g
2,000,000
6 g
142,000
6 g
25,858,000
5 g
6,000,000
4 g
1,000,000
4 g
650,000
5 g
400,000
5 g
43,573,000
4 « g
1
1
1
1
1
1
1
1921
1941
1920
1943
1921
1926
1956
1 1920
’0 8 -M a r ’ 15
1908 -’ 16
1 1950
1
1
1
1
1
1
1953
1937
1946
1946
1947
1932
and acquisition of stocks of other companies. V . 77 p. 4 50, 7 68. Pref.
stock, for $8,400 on ly, was outstanding Ju ly 1907. V . 54, p. 642. Stock
m ay be reduced by majority vote. V 70, p. 175.
D IV I D E N D S .— 1899 to 190ft, both Inclusive, 1 % yearly N o v . 30.
B O N D S .— Abstract of consol, m ortgage o f 1939 In V . 49, p. 147; of Rich
m ond & Allegheny mortgages, In V . 51, p . 144.
T i e general mortgage of 1892 (Central Trust Co. and H . T . W ickham
trustees) Is for $ 7 0 ,0 0 0 ,0 0 0 , but additional amounts at $25,000 per mile m ay
be Issued for double-tracking. O f the $70,0 0 0 ,0 0 0 as above, $32,6 9 1 ,0 0 0
bonds were reserved to provide for the $30,0 0 0 ,0 0 0 consols of 1889. issued
or to be Issued, &c.
The balance was issuable for new acquisitions,
rolling stock, & c., but not more than $2,00 0 ,0 0 0 thereof In any one year.
The mortgage covers the entire property of the com pany, real and personal,
at the time the deed was m ade, and all additional property ana mileage
acquired with the proceeds of the bonds. See full abstract of m ortgage In V .
54, p. 644; also V . 54, p. 642; V . 55, p. 335, and V . 83, p. 1523.
In Mar.
1907 $ 4 3 ,573 ,000 had been listed on N . Y . Stock Exchange, of which $5,050000 were Issued for second-track and $38,523 ,000 for other purposes, leaving
$31,1 3 2 ,0 0 0 reserved to retire underlying bonds, $339,000 available for
improvements and *fi.000 to retire remaining unexchanged preferred stock.
V 8 3 , p . 1469, 1523; V . 84, p. 626.
The stockholders voted Ju ly 31 1907 to authorize a general equip
m ent and improvement mortgage to secure not exceeding $ 1 0 ,0 0 0 ,0 0 0
1 0 - year 5 % gold bonds, dated August 1 1907 and subject to call,
It was stated, at 102.
In July 1907 $ 5 ,000,000 collateral trust 3-year 6 %
notes dated July 1 1907 were sold, secured b y $6,500,000 of the bonds
(denominations $1,000 each). V . 85, p. 39, 9 8 , 159.
The Louisville A Jeffersonville Bridge bonds, of which $ 4 ,5 0 0 ,0 0 0 are out
standing. are guaranteed Jointly and severally by the Chesapeake & Ohio
and Cleveland Cincinnati Chicago & St. Louis; any deficit on account of
the bridge Is payable by them In the proportion of one-third and two-thirds
respectively— see V . 60, p. 130; V . 61, p . 3 2 7 ,5 5 9 : V . 62, p .,84 and separate
statem ent for Louisville & Jeffersonville Bridge Co
O f the Qreenbrier R y. 4s of 1900. guaranteed prln. and Int. and assumed In
1903-04, $ 1 ,000,000 are reserved for extensions and Improvements. See
guaranty, V . 72, p. 626; see also V . 7 1 , p. 5 54, 602: V . 7 9 , p. 915. O f the
Big Sandy 4s of 1904, remaining $229,000 Is reserved for extensions. V . 7 9 r
p. 917; V . 82, p. 279.
Form of guaranty, V . 81, p. 668.
O f the Coal River 4s of 1905, $1,80 0 ,0 0 0 has been Issued on the 18 miles
from S t. Albans to H olly, W . V a .. and about 50 miles under construction;
the remaining $1,200,000 Is reserved for extensions and Improvements.
V . 80, p. 2219; V . 8 3 , p. 693.
O f the Paint Creek Branch 4s of 1905, $225,000 Is reserved for extensions.
V . 8 1 . p . 9 7 4 ,9 1 0 .
Raleigh & Southwestern guar. 4s, V . 84, p. 1114.
The $1,200,000 6 % notes maturing June 28 1907 were extended for one
year. V . 84, p. 1365, 1427.
Car Trust Serifs 4 % Gold (Denomination $1,000 each.)
Date.
Outstanding.
M ature in Installments.
“ A ” 1901.................... $ 4 0 0 ,0 0 0 .. ........................Aug. ,08-'1 2
$100 ,00 0 yrly.
“ B” 1902.................... 1 .0 0 0 .0 0 0 ............................ A ug. '1 5 -’08-'1 2
200,000 yrly .
• C” 1902.................... 5 0 0 .0 0 0 ........................... M a r .’ 0 8 -S e p t .’ 12 50,000 s.a .
* D” 1903.................... 1 ,2 0 0 ,0 0 0 ............................ A ug. '0 8 -A u g .'13 200,000 yrly .
“ E ” 1903.................... 6 5 0 .0 0 0 ........................... D ec. ’ 07-D ec. '13 5 0,000 s.a .
35.000 s.a .
*’ F ” 1904.................... 5 2 5 ,0 0 0 .......................... D ec. ’ 07-D ec. ’ 14
90.000 s.a .
* 'G " 1905.............. . . 1 , 3 5 0 , 0 0 0 ............................ A p r. ’08 Apr. '15
80.000 s.a.
*'H ” 1906.....................1 .3 6 0 .0 0 0 ............................ A p r. ’08-A p r. '16
50.000 s.a .
••I” 1906___________ 9 0 0 ,0 0 0 ........................... Dec. ’ 0 7 -J u n e ’ 16
95.0 0 0 s.a .
“ I " 1906.............. . . 1 , 7 1 0 . 0 0 0 . ..........................Feb. '08-A u g . ’ 16
“ K ” 1906.................... 1 ,4 4 0 .0 0 0 ............................ A p r .1 5 ’08 O c t.'16
80.000 s.a .
“ L ” 1907____ ______2 ,1 3 7 ,0 0 0 ............................ Jan. ’08-Jan. '171225 ,000 s.a .
” M ” 1907........ ............2 ,1 3 9 ,0 0 0 ............................ F eb . ’08-F eb. *17|
Interest paid semi-annually as Indicated b y m aturity date: " A ” and
" B ” at Girard Trust C o., Phila.; " C , ” " E ” and " F ” at office of Blair & C o .,
N . Y .; MD ,” " G ” and “ H ” at Fidelity Trust C o ., Ph ila.; “ I . ” " J . ” ” L ”
and " M ” at Blair & Co : ‘ K ” at Guaranty Trust Co.
F IN A N C E S .— Pennsylvania Interests, with Morgan-Vanderbilt interests,
owned a majority of the stock. V . 70, p. 75, 632; V . 7 2 . p. 4 8 0 .
In D ec.
1906 the Pennsylvania sold Its $ 1 5 ,6 3 0 ,0 0 0 stock holdings. V . 83, p. 1410.
On Dec. 31 1906 the N . Y . Cent. & Hud. R lv . owned $ 5 ,000,000 stock and
on June 30 1905 Clev. Cin. Chic. & .St. Louis owned stock representing an
outlay of $ 2 ,453,569, but a considerable part, It Is understood, has been
sold. V . 71, p. 398, 505; V 84, p. 1487.
A s to purchase of one-sixth Interest In m ajority Hocking Valley com m on
stock, see that com pany. V . 7 7 , p . 1225; V . 8 3 , p. 3 7 , 693.
The stock Interest In C .& O . SS. Co. was sold in 1905-06. See V . 8 3 , p. 693.
E A R N I N G S .— 2 m o s.,J 1907............... Gross, $ 5 ,0 5 7 ,5 1 1 ; net, $ 1 ,9 1 4 ,1 0 6
July 1 to A u g. 31.
11906............... Gross, 4 ,1 2 9 ,0 0 2 ; net, 1,567,061
A N N U A L R E P O R T .— Fiscal year ends June 30. Annual meeting Is held
at Richmond on the Tuesday preceding the last Tuesday In October. R e
port for 1906-07 was given In full In V . 8 5 , p. 9 1 5 , 943, and showed the
following. See also editorial, p. 896.
Year ending June 30—
1907.
1906.
1905.
Miles operated_______________________
1.832
1 ,827.
1,708
Passenger earnings__________________$ 4 ,8 8 8 ,1 3 9
$ 4 ,242,556
$ 3 ,894,145
Freight ___________ _____________. . . . 19,974.861
1 9 ,395,648
16 ,0 3 9 .3 1 3
Express, mall and miscellaneous___
933.861
964,784
790,914
.$ 2 5 ,7 9 6 861
Total earnings_______________
Operating expenses and ta x es. ____ 17,384,730
$24,602 ,988
15,439,502
$20,724 ,372
13,534,804
Net e a rn ln es___________________ ____ $8,412,131
244,360
Other Income___________________ ____
$ 9 ,163,486
204,353
$7 ,1 8 9 ,5 6 7
177,287
Total net Income__________________$8,656,491
Interest on bonds, <Jec_______________ $6,61 9 ,9 5 8
Extraordinary expenses____ ________
1,347,555
Dividends.......................................... . . . ( 1 % )6 2 7 ,9 0 7
Balance, surplus
$61,671
$ 9 ,367,839
$7,366,854
$5,778,951
$5,230,216
1,534,406
1,217,476
( 1 % )6 2 7 ,9 0 7 (1 % )6 2 7 ,9 0 4
$1,426,576
$291 ,25 9
O c t ., 1907.]
RAILWAY STOCKS AND BONDS.
31
R A IL R O A D S .
F or explanation of column headings, A c ., see notes
on first page of tables.
Size, or
Amount
Par
Value. Outstanding
1.000
500 &c
1,000
1,000
1,000
1,000
l.OOO&c
1,000
1,000
1,000
1,000
1,000
1,000
1,000
1,000
~~ " 1 .0 0 0
1,000
500 &c
1,000
1,000
50
100
100
100
1,000 &c
1,000 &C
1,000
1,000
1,000
1,000
100
100
100
ly and se
C H E S A P E A K E & O HIO R Y . (Concluded).
O F F IC E R S .— Pres., George W . Stevens, Richm ond, V a .; V ice-P res.,
Decatur A x tell, Richm ond, V a .; Treas., C. E . Potts, Richm ond, V a .: Sec.,
O. E. W ellford, R ichm ond, V a .; Comptroller, L . F. Sullivan. Richmond, V a .
Directors— Decatur A x tell, John P. Green, George W . Stevens, Samuel
R ea, H . M cK . Tw om bly, H . T . W ickham , Thom as P . Fowler and W alter
G . O akm an.— (V . 85, p. 39, 98, 159, 220, 283.)
C H E S A P E A K E W E S T E R N R Y .— Owns North River G ap, V a ., to
Bridgewater, 14 m .; leases for 99 years from May 1 1902 Chesapeake &
W estern R R ., Bridgewater to Elkton, 27 m .; total, 41 m . Projected to tide
water on Chesapeake B ay, and westerly Into W est Virginia coal fields, of
which 14 m ., from Bridgewater to North River G ap, Is com pleted. Con
trolled by Chesapeake W estern Co. V . 75, p. 1353; V . 7 8 , p. 2383.
Stock authorized, $ 5 0,000 ,000 : outstanding, $ 1 ,4 1 9 ,6 0 0 , of which $608,400 is preferred. Ches. & W est. R R . has $533,500 com m on and $31,300
pref. stock outstanding. C. W . R y. mortgage of 1901.
V . 73. p. 899. 1356.
Year ending June 30 1907 (41 m iles), gross, $79,650 ; net, $26,910 ; other
Incom e, $33,325 ; interest on bonds, $56,760 (not paid); taxes and rentals.
$ 3 6,833 ; bal., def., $33,358 .
Pres., Robert M cM . Gillespie; Treas., W . H
H all.
Office, 71 B ’w ay, N . Y . — (V . 78, p. 2383.)
C H E ST E R F IE L D & LA N CA STE R R R .— Owns R u by to Cheraw, S. C .,
18 m.
Extension of 18 m . from R uby towards Lancaster was completed
July 1907.
Bonds (limited to $750,000) are issuable at $5,000 per mile.
V . 81, p. 1790.
There were Ju ne30 1907 $67,000 debenture 6s outstanding.
Stock, $500 ,00 0; par $25.
For 2 mos. ending Aug. 31 1907, gross, $ 9 ,62V;
net, $ 3,141.
Year ending June 30 1907, gross, $56,144 ; net, $19,468;
Int., taxes, & c., $11,498; bal., sur., $7,9 7 0 .
Pres., A H . Page, Cheraw,
S. C .; Sec., A . G. Page.— (V . 81, p. 1790.)
C H E ST N U T H IL L R R .— Owns from Germantown to Chestnut H ill, P a .,
4 m .; being double-tracked May 1902. Re-leased In 1896 to Phlla. & R e d .,
R y .. the rental being reduced from 12 % to 6 % on stock, the latter being
Increased In June 1902 from $120,650 to $ 1 9 5 ,6 5 0 .— (V . 7 5 . p. 76.)
C H IC AQ O & ALTON R R .— (See M a p .)— R O A D — Chicago to St. Louis,
Kansas C ity, & c.. In all 970 miles, of which about 210 double tracked.
Road owned—
M iles. I Road owned—
M iles.
Chicago to East St. Louis, 111____ 280 Roodhouse, 111., to Kansas C ity,
Springfield, 111., to G rove. I ll____ 54(
M o ............................................................251
E ld redto Barnett__________________48 j Bloomington to W a n n , via JackCoal City Line, I n d _______________251
sonvllle Godfrey & Upper Alton
D w ight, 111., to W ashington and
I (all in 111)________________________ 158
Lacon, 111________________________ 80 Trackage to Peoria, 111., & c ________ 24
M exico, M o., to Cedar C ity, M o . . 5 0 1
-----Total of all owned and operated In system July 1 1907 ___________ _____ 970
Cut-off between Mexico. M o ., and Old Monroe, 65 m ., built by Chic. Burl.
& Quincy, opened Sept. 1904, Is operated jointly. Cut-off from Springfield
to Murraysvllle, 111., 34 miles, was opened about Aug. 1 1907. The stock of
the Peoria Terminal R y. Is owned by the Chicago & A lton and Chic. R . I. &
Pac. R y . , which guarantee the first mortgage bonds ($1,500,000 authorized
Issue). V . 81, p. 1099; V . 83, p. 752, 1171, 1291; V . 84, p. 451; V . 85,
p. 159.
O R G A N I Z A T I O N .— The (old) railway com pany was organized In April
1900 and purchased substantially all the stock of the Chic. & Alton Railroad.
The two companies were consolidated In Mch. 1906 per plan V . 82, p. 4 5 1 ,
the Railway Issuing Its cumulative 4 % participating and prior lien stock In
exchange for the outstanding stocks of the Railroad, the Railway com pany
-changing Its name to the C. & A . Railroad as above. V . 82, p. 160. See V .
7 0 . p. 686, 9 95.
S T O C K .— The cumulative 4 % participating and prior lien stock Is enti
tled , In addition to prior right to accumulative dividends at the rate of 4 %
per annum , to receive additional dividends equal to the rate of dividends
declared on the com m on stock of the consolidated com pany.
In Aug. 1907
the Toledo St. Louis & W estern purchased from the Rock Island the con
trolling Interest, v iz .: $ 1 4,420 ,000 com m on and $ 6 ,380,000 preferred stock.
V . 84, p. 468, 529, 792.
The Union Pacific owns $10,3 4 3 ,1 0 0 pref. stock,
acquired in 1904. V . 84, p. 1488.
See V . 80, p. 471, and V . 78, p. 47,
342; V . 79, p. 151, 1331, 1461, 2204; V . 81, p. 1664; V . 83, p. 686; V . 84,
p. 1488; V . 85, p. 468.
D IV I D E N D S .— On pref. of old co., Jan. 1901 to Jan. 1906, Inch, 4 %
yearly (J. & J .) .
Semi-annual dividends on pref. and participating
and prior lien stocks, 2 % each, paid July 1906 to Ju ly 1907, incl.
B O N D S . — The first lien (old R y .) 3 H s of 1900 are secured by a direct first
Hen on Spring 3eld to Grove, 54 m ., and a lien on the remaining property
owned subject to the mortgage securing the refunding 3s of 1899 and certain
obligations and Hens existing at the consolidation In 1906.
V . 70, p. 8 9 4 ,
944. See application to list In full In V . 71, p. 1021, and plan, V . 82, p. 451.
The Railroad (old) mortgage securing the 3 per cents of 1899 will provide
funds for Improvements and extensions. Bonds In excess of $40,000 ,000
m ay be Issued thereunder on vote of two-thlrds of the stockholders for ex
tensions of not over 500 miles main track, at not exceeding $20,000 per mile,
to fund leased line rental obligations and for future betterments not to ex
ceed $5,000,000 at not over $ 1 ,000,000 per annum from Jan. 1 ltfoo. See
circular V . 69, p. 178; also V . 69, p. 26, 129, 541; V . 70, p. 4 29, 739, 995;
V . 84, p. 4 80, 507, 626, 803, 809.
Stockholders of Railroad (old) Co. voted on Sept. 7 1904 to authorize the
Issue of refunding bonds In excess of the $ 4 0 ,000 ,000 then sold and pledged,
v iz., $ 5 ,000,000 for betterments and $350,000 for purchase of Quincy C ar
rollton & St. Louis R y .
V . 79, p. 211, 967.
There are $76,063 5 % Pullman Co. equipment notes due May 15 1910.
The $6,00 0 .0 0 0 o % collateral notes sold Jan. 1907 are secured by
deposit of $8,00 0 ,0 0 0 refunding 3s; of the Issue, $ 5 ,250,000 wasreserved to
retire the $5 000,000 notes due July 1907. V . 84, p. 157; V. 77, p. 1746.
L A T E S T E A R R I N G S .— /1 9 0 6 - 0 7 .Gross, $12,8 0 9 ,4 2 6 ;
12 m os., July 1 to June 3 0 -1 1 9 0 5 -0 6 .Gross, 1 1 ,586,091;
net, $ 4 ,784,974
net, 3,767,191
A N N U A L R E P O R T .— For year ending June 30 1907, was In V . 85 p .857
525,000
200,000
339,000
1,980,000
4 .771,000
600,000
See text
5,000,000
Rate
%
4
5
5
4
4
4
5
6
g
e
g
g
g
g
g
g
When
Payable.
F
A
F
M
J
J
F
J
&
&
&
&
&
&
&
&
A
O
A
N
D
J
A
J
Where Payable, and by
Whom
Feb
Oct
Aug
N ov
June
July
Au g
July
J P Morgan & Co, N Y
Cent Tr & S D ep, Cln, O
J P Morgan & Co, N Y
do
do
do
do
J P Morgan & Co, N Y
A & O J P Morgan & Co, N Y
820,000
4 g
do
do
450,500
4
Oct 1
M & S J P Morgan & Co, N Y
■4,500,000
4 g
do
do
F & A
500,000
5
150,000
J
&
J J P Morgan & Co. N Y
5 g
do
do
1,800.000
& D
4 g
J
do
do
F & A
750,000
4 Vi
114,000
51,000
A & O J P Morgan & Co, N Y
4H
do
do
J
& J
250,000
4 g
F & A New York Trust Co, N Y
666,000
5 g
A & O See text
1,419,000
4 g
176.000
F & A Knickerbocker Tr C o ,N Y
5 g
6
195,650
Q — M Treasurer’s Office, Phlla
19,542,800
19,544,000 4 In 1907 J
&
J 115 Broadway, New York
do
do
899,300 4 In 1907 J &
J
do
do
A & O
*37,350,000
3 %
do
do
22,000,000
&
J
g J
6,000,000
5
& J
do
do
J
104,500
4
J 16 & D Equitable Trust Co, N Y
2,312.000 4& 5 g
Various
do
do
2,034,000
& D
do
do
J
4 g
186,001*
A
& O
N Y , 115 Broadway
6 g
6
1,750,000
do
do
Q— F
do
do
1,500,000
7
Q— J
329,000
7
F & A
do
do
verally wit h Clevel and Clncl nnatl Chicago & St Lo
Year ending June 30— -.
1907.
Miles ..........................................................
970
Gross earnings.......... ...............................$12,809 ,426
Operating expenses_________________
8 ,024,452
N et earn ings....................................... $4,78 4 ,9 7 4
N et in c o m e ........ .......................... ............$ 4 ,7 8 5 ,8 6 8
Deduct—
$369,000
T a x e s ........................... ...............................
Interest on bonds, & c_______________
2,3 4 8 ,2 8 3
Divldend on guaranteed stocks____
241,024
Dividend on prior lien stock_______ (4 % )3 5 ,5 7 2 1
Dividend on pref. stock___________ (4 % )7 8 1 ,7 6 0 J
Balance, surplus__________________$ 1 ,010,229
lxxxv.
Bonds— P rl n d pal. When D u*
Stocks— Last
Dividend.
I N T E R E S T OR D I V I D E N D S .
M iles
Date
of
of
Road. Bonds.
Chesapeake & Ohio— (Concluded)
21 1905
Paint Creek Branch 1st M $750,000 g old ____ Ce.c*
Klneon Coal mortgage assumed redeem beg Oct 1905
18 1891
Greenb <fc New R lv R R 1st M g ass’d (V 75, p 562)
100 1900
Greenbrier R y 1st M $3,000,000 gold assumed.Ta.c*
85 1904
Big Sandy R y first mortgage $5,000,000 g o ld ..C e .c *
Potts Creek Branch first M (V 83. p 6 9 3 )__________Ce
25 1906
___ 1907
Gen eq and im p’t M $10,000 ,000 g red 105 Nxc*& r
1907
Collateral trust notes red 1 0 2 ___________________ Cexc
...
Guaranteed Bonds.
Elevator Co first mortgage gold p & 1 g u a r ...C e .c *
- • - 1888
1888
Second mortgage for $500,000 Income n o n -c u ..c *
___ 1895
Lo & Jeff Bdg 1st M $5,000,000 guar p & I e n d ..c *
Norfolk Term & Trans 1st M (V 67 p 322) guar p & 1
1898
'4
Passenger & Belt R y (Lex, Ky) 1st M g extend ln’06
67 1905
•Coal River first mortgage $3,000,000 g old_______Ce
Western Pocahontas Corporation 1st M (V 84, p 995)
1905
do
do
do
E xtn . N o. 1
1906
do
do
do
E x tn . N o. 2
1906
Raleigh & Southw 1st M $1,500,000 gold ________ Ce
27 1896
-Chesapeake W estern— C & W R R 1st M g old _______N
41 1901
Chesapeake W estern R y M $1,435,000 g o ld ------ B.c*
Chesterfield & Lancaster— 1st M $750,000 g o ld _ .K .c *
36 1905
4
Chestnut Hill RR— Stock rental P & R R y ..................
-Chicago & Alton RR— Common stock
Preferred stock 4 % non-cum ulatlve_________________
4 % cumulative part & prior Hen stock......................
889 1899
Chic & Alton R R (old) ref M gold (see text) -IC .c * & r
943 1900
First Hen (old R y.) M subject to call at p a r ..F .c & r
1907
Collat. notes $ 6 ,0 0 0 ,0 0 0 _________ _____ _____________
Joint equip notes ($9,500 due seml-ann) (V 7 6 , p 47)
___ 1905
C & A Eq Ass’n ctsSer A , B & C, g gu$98,000 s a .M e
1906
do
do
Ser D . g gu, due $113,000 s a . Me
1877
M iss R lv Br 1st M g ass’ d s f drawn at 1 0 0 .......... c*
162
Kansas City St Louis & C preferred stock gu ar____
Joliet & Chicago 7 % stock perpetual guar by C & A
37
101 . . . .
Louisiana & Missouri guaranteed preferred s t o c k ..
•Additional bonds Issued— see text below.
a Gua rantee d Joint
[Y ol.
RAILWAY STOCKS AND BONDS.
32
1
1
1
1
1
1
1
1
1945
1918
1942
1940
1944
1946
1917
1910
Oct 1 1938
Oct 1 1988
March 1 1945
Feb 1 1948
Jan 1 1908
June 1 1945
Aug 1 1945
___ . . . . . ________
July 1 1936
Aug 1 1945
Oct 1 1951
Aug 1 1955
Sept 4 1907 1 X
July 1 1907 2 %
July 1 1907 2 %
Oct 1 1949
July 1 1950
Jan. 1 1912
To June 15 1912
To Nov 1915
Dec ’ 07-J’ ne '16
Oct 1 1912
N ov 1 1907 1 H
Oct
1907 1 H
Aug 1 1907 3 X
uls.
1906 .
970
$ 1 1 ,586 ,094
7 ,8 1 8 ,9 0 3
1905.
915
$ 1 1 ,797 ,314
7 ,6 0 2 ,6 6 3
$3,767,191
$4,194,651
$ 3 ,767,353
$354,180
2 ,1 6 2 ,1 6 8 N o compari241,024 son; owing
815,006 to consolidation Mch. '06.
$194,974
O F F IC E R S .— Chairman of Board, Thomas H . H ubbard; Pres., S. M .
Felton; V .- P ., Edwin Hawley; Chairman Executive Com m ittee, Theodore
P . Shonts; Treas., F. H . Davis; Sec. and Asst. Treas., F. H . Davis.
Directors.— Norman B . R eam , S. M . Felton, J. J. Mitchell, Edwin H aw
ley, Thomas H . H ubbard, Theodore P. Shonts, Geo. H . Ross, Joy Morton,
F . H . D avis, W illiam G. Beale and H . E . H untington.— (V . 85, p. 9 1 5 , 943.)
CHICAG O B U R LIN G T O N & Q U IN C Y R R .— (See M a p .)— R O A D — Oper
ates a great system of roads extending from Chicago westerly, reaching St.
Paul and Minneapolis, M inn., St. Louis and Kansas C ity, M o., Om aha, N e b .,
Denver, C ol.. Cheyenne, W y o ., Black Hills, S. D ., and Billings. M ont. The
accompanying map shows clearly the system , viz.:
M lies. |
M iles.
Lines east of Missouri R iver___ 4 ,3 5 4 1Lines leased______________________ 215
Lines west of Missouri R iv er___ 4 ,2 3 4 1Narrow-gaugre lines--------------------72
Total operated June 30 1 9 0 7 ____________________________________________ 8,875
The Denver & Beaver Valley was Incorporated iate In 1904 to build from
Oberlln, K a n ., to U ray, C olo., 100 m . V . 81, p. 1847. Extension from Centralia to Herrin, 111., 52 m ., was opened In Mch. 1906.
Extension under
charter of Big Horn Southern from Frannle. W y o ., southeast to W orland
91 m ., was completed July 1906, and from W orland to K irby, 20 m .,
Sept. 1907.
O R G A N I Z A T I O N , & c.— This was a consolidation In July 1875 of the
Chicago Burlington & Quincy In Illinois and the Burlington & Missouri R lv .
In Iowa. Chicago Burlington & Northern and other subsidiary lines In Illi
nois were absorbed In May 1899. V . 68, p. 975. In 1900 purchased the re
maining leased lines In Iowa and Missouri, v iz .: Kans. C. St. Jos. & Coun.
Bluffs, St. L. K . & N . W ., Chic. Burl. & K . C ., H an. & St. Jos., Keokuk &
W est, and Chic. Ft. Mad. & Des Moines. Burl. & Missouri. A c. V . 7 1 . p
697, 863, 963; V . 73, p. 137, 899.
The stockholders will vote N o v . 6 1907
on merging various subsidiary lines. See V . 85, p. 721.
In 1901 $107 ,61 1,60 0 of the $110 ,83 9,10 0 stock was exchanged for tho
Joint 20-year 4 % bonds of the G t. Northern and Northern P a c., secured by
the deposit of the stock In trust, on the basis of $200 In bonds for $100 stock.
See circular. V . 72, p. 871, and application to list, V . 7 3 . p. 293, and de
scription of bonds under G t. Northern.
The lease to the Chic. Burl. & Quincy Railway for 99 years from O ct. 1901
at 7 % per annum on stock was abrogated July 1 1907, the co. resuming
operation. V . 73, p. 842, 1011, 1061, 1207, 1312; V . 84, p. 1550; V . 8 5 ,p .39.
C A P IT A L S T O C K .— The stock has been Increased for the acquisition of
new lines, retirement of over $15,000 ,000 convertible debentures, & c.; In
1880 a 20 % distribution was made. See "O rganization’ above.
D IV S .-1 '9 4 .
’ 95 t o ’97.
’98. '99 to Sept. ’ 01.
’02 to J u ly ’ 07. O c t.’07
P e rC . J i H
4 yearly.
5^
6 yearly.
7 yearly.
Below.
In O ct. 1907 a quarterly dividend of 2 % and 6 % extra were paid.
V . 8 5 , p. 599.
B O N D S .— For full description of each loan see the editorial article on
pages 3 to 6 of “ Supplement” of Oct. 1896 and "Chronicle” V . 63, p. 775.
The mortgage of 1899 secures bonds limited to $85 ,0 0 0 ,0 0 0 , and the
lien securing the bonds became an absolute first mortgage covering all
lines east of the Mississippi River upon the paym ent of $21,699 ,000 con
solidated mortgage 4 % bonds on July 1 1905. V . 79, p. 2454. See V . « 8 ,
p. 771; abstract, V . 6 9 . p. 283; V . 69, p. 795; V . 7 4 . d. 1307; V . 7 5 , p. 665;
V . 78, p. 1391, 1961, 2383, 2441; V . 79, p. 211: V . 8 0 , p. 2620; V . 83, p .625.
The Iowa Division bonds are a first mortgage on the main line In Iowa
from Burlington to East Plattsmouth on the Mo. River, 272 miles, and on
121 miles of branches; they are also a first collateral lien on 496 miles of
branches and 86 miles of second track. These bonds have a sinking fund of
1 ^ % ($203,800) yearly, for which the 4s are subject to call at 100 and the
5s at 105. The single main line and branches covered “ shall not exceed
In the aggregate 900 miles” at $16,000 per mile- on second track additional
$14,000 per mile. V . 65, p. 462.
Denver Ext. bonds can be Increased only for 2nd track at $10 000 per mile.
The collateral trust Nebraska extension bonds of 1887 are Issued at $20,000
per mile for single and $10 000 per mile for second track on not exceeding
1,500 miles. On merger of roads proposed In N ov. 1907 the m tge. will be
come a direct first lien.
Abstract of deed V . 45, p. 441; V . 85, p. 721.
Burlington & M issouri R R. in Nebraska consol, mortgage of 1878 is for
$ 1 4,000 ,000 , and Is now a 1st M. or 1st collateral lien: all except the exempt
bonds are subject to call for the sinking fund at par: $205,000 retired In
1906. The "e x e m p t” bonds m ay be called after 1908.
The $4,230,500 K . C. St. Joseph * Council Bluffs consol 7s were paid at
m aturity Jan. 1 1907.
V . 8 3 , p. 1590.
G E N E R A L F IN A N C E S .— Corn being one of tne principal articles carried,
the earnings vary greatly according to the size of the crop .
A N N U A L R E P O R T .— Fiscal year end June 30.
Report for 1906-7 was
In “ Chronicle” O ct! 26 (see also editorial), showing results on all line,
operated and controlled.
RAILWAY STOCKS AND BONDS.
O c t., 1907.]
34
RAILWAY STOCKS AND BONDS.
[V ol.
I N T E R E S T OR D I V I D E N D S .
R A IL R O A D S .
Date
of
of
Road. Bonds.
M ile s
For explanation of column headings, A c ., see notes
on first page of tables.
C h i c a g o B u r l i n g t o n & Q u in c y — S t o c k __________ ______
I ll in o i s D i v fir s t m o r t g a g e ) $ 8 5 ,0 0 0 ,0 0 0 c u r r e n c y r e
do
do
j
d e e m a b le a t 1 0 5 . . N B
S in k n g f u n d I o w a D l v 5 s ( c o l l a t t r u s t ) d r a w n a t 1 05
S in k in g f u n d m o r t g a g e 4 s d r a w n a t 1 0 0 __________ c & r
S in k in g f u n d 4 s ( S o W D iv ) d r a w n a t 1 0 0 ___ . c * & r
D e n v e r e x t e n (c o ll tr) b o n d s s f d r a w n a t 100 - N B . c *
D e b e n t u r e s f o r H a n n i b a l & S t J o s e p h s t o c k ____ c*
N e b r a s k a e x t $ 2 0 ,0 0 0 p m (s f n o t d r a w n ) . N B . c ’ & r
B & M o R R in N e b l L a n d g r s f d r a w n a t 1 00 _ .N B 1
C o n M $ 1 4 , 0 0 0 , 0 0 0 / E x e m p t , n o t d r a w n t ill 1 9 0 8 /
B u r l & M o R R In N e b s f f o r A t & N R R s t o c k . . N B
H a n n i b a l & S t J o s e p h c o n s M n o w 1 st M ____ F .c *
K C St Jos & C o—
1 st M s N o d & T a r k V a l R R s s f (d r a w n a t p a r ) . c *
R e p V a l 1 st M g u a r ( d r a w n a t 1 00 ) s f $ 1 4 ,0 0 0 y r l y . c
A t c h & N e b 1 st M A t c h t o L in c o l n N e b & c g u a r . . c *
L in c o l n & N W R R 1 st M g u a r s in k f u n d 1 % n o t d r ’ n
C h i c a g o C in c in & L o u is v i ll e — C R & M 1 st M g - . O B . c *
C h i c a g o & C i n c i n n a t i 1 st M $ 7 5 0 ,0 0 0 g o l d c a ll t e x t
C i n c i n & I n d W 1 st M 5 6 0 0 ,0 0 0 c a ll t e x t _____O B .c *
C h ic C i n c i n & L o u is v g e n & r e f M g u a r t e x t - . A B . c *
H o o s ie r E q u i p m e n t 1 st M S e r ie s A g u a r p & 1___ B B
E q u i p m e n t t r u s t s $ 3 0 0 ,0 0 0 p a r t d u e y e a r l y ..............
C h i c a g o & E III— P r e f s t o c k 6 % n o n - c u m ( $ 1 0 , 0 0 0 p m )
F ir s t m o r t g a g e (s f $ 2 0 ,0 0 0 n o d r a w i n g s ) ____ C e .c *
D a n v i ll e & G r a p e C r e e k R R — 1st M a s s u m e d ____ c*
E x t e n s i o n fir s t m o r t g a g e _______ ________ ______________ c*
C o n s o l i d a t e d m o r t g a g e ( f o r $ 6 ,0 0 0 ,0 0 0 ) g o l d . . C e . c *
C o l la t e r a l t r a s t b o n d s s i n k i n g f u n d ..............................c*
G e n e r a l c o n s o l a n d 1 st M $ 3 0 , 0 0 0 , 0 0 0 ..............C e . c * & r
C h ic & I n d C o a l— 1 st M $ 2 5 ,0 0 0 p m a s s u m e d .M p . c *
E v a n s v il le T e r r e H a u t e & C h i c a g o I n c o m e m o r t g a g e
I n d i a n a B l o c k C o a l 1 st M s in k in g fu n d c a ll a t p a r . .
R e f u n d & I m p M ( t e x t ) g o ld r e d a t 1 0 2 H - - - B a . c * < S ;r
Size, or
Amount
Par
Value. Outstanding
Rate
%
When
Payable.
$100 $ 1 1 0 8 3 9 1 0 0 S e e t e x t .
1 1 ,6 4 8
f
1 8 91
/
j i 899
\1 8 9 9
j 1879
11879
1881
3 70 1881
1883
1887
1 .4 7 1
/1 8 7 8
1 18 78
1880
2 89 1 88 1
59
90
145
73
1 80
50
33
264
...
108
9
14
1 27
817
1 76
49
13
...
1,000
& c m 5 0 ,8 3 5 0 0 0
& c n 3 4 165 0 0 0
1,000 b 2 , 2 8 8 ,0 0 0
1,000 c 7 , 52 3 ,0 0 0
1 ,0 0 0 d 4 , 3 0 0 ,0 0 0
100 & c e 7 , 9 6 8 ,0 0 0
9 ,0 0 0 0 0 0
1,000
1,000 & c f 24 ,5 0 5 0 0 0
6 0 0 & c 2 8 ,7 0 5 ,0 0 0
600 & c
5 ,0 0 0 ,0 0 0
1,000 h 3 , 3 4 7 ,0 0 0
1,000
8 ,0 0 0 ,0 0 0
3^
4
5
4
4
4
5
4
1 ,0 0 0
1880
1879
1878
1880
1900
190?
1 902
1903
1902
1903
1 ,0 0 0
600 & c
100 & c
l"877
1880
1 88 1
1884
1887
1887
1885
1881
1878
1905
100
1,000
1,000
1,000
1,000
1,000
1,000
1,000
100
&c
1,000
1,000
1.000
1,000
1 ,0 0 0
&c
1,000
1,000
500 & c
&c
1,000
1 2 5 1 ,0 0 0
k l , 0 7 8 ,0 0 0
j l , 1 2 5 ,0 0 0
p 6 0 0 ,0 0 0
1 ,8 0 4 ,0 0 0
7 5 0 ,0 0 0
6 0 0 ,0 0 0
2 ,7 9 6 ,0 0 0
2 5 0 ,0 0 0
1 8 0 .0 0 0
8 ,8 3 0 ,7 0 0
2 ,6 5 5 ,9 0 0
9 7 ,0 0 0
9 1 ,0 0 0
2 ,7 8 8 ,0 0 0
4 2 ,0 0 0
See te x t.
4 ,6 2 6 ,0 0 0
1 5 0 ,0 0 0
p l5 0 ,0 0 0
8 ,8 9 7 .0 0 0
6
6
4
6
Q— J
&
J
&
J
& O
& O
& S
& A
& N
& N
& J
& J
& J
& S
N Y , B o s to n a n d C h ica g o
B a n k o f C om , N Y & B os
do
do
do
do
do
do
do
do
do
do
do
do
do
do
B an k o f C om m erce, B ost
do
do
do
do
B a n k o f N o r A m e r ic a ,N Y
6
P a s s e n g e r ____ _____
_______________
M a il a n d m i s c e l l a n e o u s _______________
1 9 0 6 -0 7 .
9 ,1 3 4
1 8 ,6 6 6 ,9 7 3
7 .2 8 9 ,5 8 9
1 9 0 4 -0 5 .
1 9 0 5 -0 6 .
8 .8 7 9
8 ,9 2 7
5 5 1 ,1 6 8 ,3 3 9 § 4 3 , 8 6 3 , 8 9 5
1 5 ,8 9 8 ,2 4 3
1 6 ,4 0 9 ,1 0 4
6 ,5 6 9 ,2 2 8
6 ,2 1 0 ,9 0 9
G r o s s e a rn in g -s _________________________ .5 8 2 ,4 7 3 , 2 5 1
E x p e n s e s a n d t a x e s _____________________ 6 1 ,7 4 3 ,7 8 7
$ 7 4 ,1 4 6 ,6 7 1
5 3 , 5 0 8 ,5 3 2
$ 6 5 ,9 7 3 ,0 4 5
4 4 ,1 0 0 ,3 3 2
N e t _______________ _____________________$ 2 0 ,7 2 9 ,4 6 4
O t h e r i n c o m e _____________________________
4 4 3 ,2 6 2
$ 2 0 ,6 3 8 ,1 3 9
4 1 0 ,6 8 2
$ 2 1 ,8 7 2 ,7 1 3
3 0 2 ,2 0 2
T o t a l i n c o m e ................. ................................5 2 1 ,1 7 2 ,7 2 6
I n t e r e s t , r e n t , & c ___ ____________________
8 ,0 1 7 ,5 1 9
$ 2 1 ,0 4 8 ,8 2 1
8 ,3 0 6 ,3 9 1
5 2 2 ,1 7 4 ,9 1 5
8 ,3 7 0 ,1 3 7
B a l a n c e ________________________________ 5 1 3 ,1 5 5 ,2 0 7 $ 1 2 ,7 4 2 ,4 3 0 $ 1 3 ,8 0 4 ,7 7 8
$ 8 ,6 0 8 ,9 1 0
$ 8 ,6 0 S ,9 6 8
I n t . o n N o r . P a c . - G t . N o r . j o i n t b o n d s . - $ 8 ,6 0 9 ,0 4 0
2 2 5 ,8 9 0
2 2 5 ,9 4 3
D i v . o n C . B . & Q . s t k . h e ld b y p u b . , 7 %
2 2 5 ,8 3 4
S u r p l u s ______
_______________________ $ 4 , 3 2 0 ,3 3 3
$ 3 ,9 0 7 ,5 7 2
$ 4 , 9 6 9 ,9 2 5
D I R E C T O R S . — G e o . B . H a r r is ( P r e s . ) , J o h n J . M i t c h e l l . C h i c a g o , 111.;
C h a r le s E . P e r k in s o f B u r l i n g t o n , l a . ; J . J . H i l l , S t . P a u l , M i n n .; J a m e s N .
H ill, G e o . C. C la r k , W . P . C lo u g h , J o h n F . T a lm a g e , N o r m a n B . R e a m ,
G e o . F . B a k e r a n d S a m u e l T h o r n e o f N e w Y o r k . — ( V . 8 5 , p . 5 9 9 , 7 2 1 .)
C H I C A G O C I N C I N N A T I & L O U I S V I L L E R R .— (See M a p . ) — O w n s C i n
c i n n a t i t o L o u i s v i l l e J e t . , I n d . , 2 65 m il e s ; t r a c k a g e L o u i s v i l l e J e t . t o C h i
c a g o , 111., 18 m il e s ; t o t a l 2 8 3 m il e s .
A c o n s o lid a t io n J u n e 4 1 9 0 3 ; V .7 6 ,
p . 1247.
I n M a r c h 1 9 0 7 a s e t t l e m e n t w it h t h e C ln . H a m . & D a y t o n in t e r e s t s w a s
r e a c h e d u n d e r w h ic h t h e $ 3 ,5 0 0 ,0 0 0 P e r e M a r q u e t t e c o l l a t e r a l t r u s t b o n d s
s e c u r e d b y t h e C . C . & L . s t o c k w e r e c a n c e l e d , t h e s t o c k b e in g r e t u r n e d t o
t h e o l d h o l d e r s , a d e b t o f a b o u t $ 8 0 0 ,0 0 0 b e in g c a n c e l e d a n d t h e C . C . & L .
r e c e i v i n g $ 4 0 0 ,0 0 0 In r e c e i v e r s ’ c e r t if i c a t e s o f t h e P e r e M a r q u e t t e .
V . 84,
p. 507, 693.
T h e m a n a g e m e n t o f t h is p r o p e r t y w a s s u r r e n d e r e d J a n . 1 1 9 0 6
t o t h e fo r m e r o w n e r s .
T h e In terest d u e J a n . 1 1 90 6 t o J u ly 1 1 9 0 7 ,in c l.,
o n th e g e n . a n d r e fu n d in g 4s o f 1903 w a s p a id b y th e c o m p a n y a t m a tu r it y .
V . 82, p . 99. 217.
S t o c k o u t s t a n d i n g . $ 4 ,2 0 6 ,0 0 0 ; p a r o f s h a r e s . $ 1 0 0 .
T h e C !n R i c h m o n d & M iin r t e 1 st 5 s . C h i c a g o & C i n c i n n a t i , a n d C ln . &
I n d . W e s t Issu es a r e a ll s u b j e c t t o c a ll a t 1 1 0 a f t e r 10 y e a r s f r o m t h e ir
I s su e , t h e C ln . R i c h . & M u n c le a f t e r O c t . 1 9 1 0 .
S e e o ff ic i a l s t a t e m e n t , V .
7 1, p . 1066; V . 7 4, p . 1195.
O f th e g e n . a n d re f. 4 H » o f 1903 (A m e r ic a n
L o a n & T r u s t C o . o f B o s t o n a n d U n io n T r u s t C o o f I n d i a n a p o l i s , t r u s t e e s )
s u ffic ie n t a r e r e s e r v e d t o r e t ir e a ll p r io r is s u e s , I n c l u d i n g e q u ip m e n t m o r t s .;
b a l . f o r e x t e n s io n s , i m p r o v e m e n t s & c . V . 7 7 . p . 3 4 9 , 1 5 3 2 ; V . 8 0 d . 6 4 9 .
O f f i c e , C h i c a g o , 111.— ( V . 8 4 , p . 2 1 9 , 5 0 7 , 6 9 3 , 1 1 8 1 .)
C H I C A G O & E A S T E R N I L L I N O I S R R .— See M a p s, panes 1 1 6 . 1 1 7 .—
O p e r a t e s r o a d ( d o u b l e t r a c k t o D a n v i ll e J e t ., 1 0 6 m .) f r o m C h i c a g o , 111., t o
T e r r e H a u t e . I n d . , a n d b it u m i n o u s c o a l fie ld s ; a l s o t o T h e b e s a n d J o p p a , 111.
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7| D o u b l e t r a c k .............................................. 175
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q u ir e d t h e g r e a t e r p a r t o f t h e s t o c k , a s s a id b e lo w .
T h e C h i c a g o & E a s t . 111. o w n s 5 1 , 0 0 0 ,0 0 0 s t o c k o f C h ic . & W e s t e r n I n d .
S p e c ia l le a s e o f C h i c a g o fr e ig h t t e r m i n a l s .
V . 7 8. p. 819.
I n 1 9 0 4 -0 5 a c
q u ir e d c o n t r o l o f t h e E v a n s v il le & T e r r e H a u t e , w h ic h f o r m s p a r t o f t h e
t h r o u g h lin e b e t w e e n C h i c a g o a n d E v a n s v il le . V . 5 5 . p . 9 9 5 : V . 8 1 p . 1 2 3 9
I n A p r il 1 9 0 5 t h e b r id g e o f t h e S o u t h e r n 111. & M is s o u r i B r id g e C o . fw h le h
s e e ) w a s o p e n e d a c r o s s t h e M is s is s ip p i R i v e r , f o r m in g w it h S t . L o u i s & S a n
F r a n c is c o R R . a lin e t o T e x a s p o in ts .
V . 7 1, p . 1219; V . 7 4, p . 930.
S T O C K . — C o m m o n s t o c k o u t s t a n d i n g , $ 7 , 2 1 7 ,8 0 0 (5 1 5 ,0 0 0 p . m . ) ; p r e f . ,
5 8 ,8 3 1 ,7 0 0 .
I n a d d i t i o n , 5 6 , 4 0 8 ,3 0 0 c o m . a n d 5 1 6 1 ,3 0 0 p r e f. w e r e h e l d in
t r u s t b y T r u s t C o . o f A m e r ic a in J u l y 1 9 0 7 .
V . 8 5 , p. 1 0 0 1 .
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I n A u g . 1 9 0 2 t h e S t . L o u is & S a n F r a n c i s c o R R . g a v e In e x c h a n g e f o r t h e
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t h e r e o f fo r e a c h $ 1 0 0 s h a r e .
V . 75, p. 289.
I n J a n u a r y 1 9 0 5 a ll o f t h e
$ 7 ,2 1 7 8 0 0 c o m m o n , a n d $ 6 ,2 1 1 ,7 0 0 o f t h e $ 8 , 9 9 2 ,0 0 0 p r e fe r r e d h a d b e e n
e x c h a n g e d o n t h is b a s is .
T h e S t . L o u is & S a n F r a n , h a s t h e o p t i o n t o r e
t ir e t h e t r u s t c e r t ifi c a t e s a t a n y t im e a t $ 2 5 0 p e r $ 1 0 0 c o m m o n s t o c k t r u s t
c e r t i f i c a t e a n d $ 1 5 0 p e r $ 1 0 0 p r e f. s t o c k t r u s t c e r t i f i c a t e , p a y a b l e In g o ld
a n d o b l i g a t e s it s e l f t o p a y o f f e n t ir e is s u e in 4 0 y e a r s f r o m O c t . 1 1 9 0 2 a t
s a m e r a t e s . m e a n w h i le o b li g a t in g I t s e lf t o p a y 1 0 % d i v i d e n d s o n t h e c o m
m o n a n d 6 % o n t h e p r e fe r r e d t r u s t c e r t i f i c a t e s , r e s p e c t i v e l y , t h e s e a m o u n t s
b e l n * e q u iv a le n t t o 4 % o n t h e p r in c ip a l s u m t o b e e v e n t u a l l y r e c e iv e d In
p a y m e n t th e re fo r.
U p o n fa il u r e t o p a y a n y d i v id e n d w it h i n 3 0 d a y 9 a ft e r
d e m a n d t h e r e f o r , a n y h o l d e r m a y s u r r e n d e r t h e c e r t if i c a t e s t o t h e t r u s t e e
a n d r e c e iv e t h e s h a r e s r e p r e s e n t e d t h e r e b y .
V . 7 5. p. 289. 393, 1031;
V . 8 2. p 48.
A m a jo r i t y o f c o m m o n s t o c k t r u s t c e r t if i c a t e s w e r e In 1 9 0 5
e x c h a n g e d f o r c e r t ifi c a t e s In d e n o m i n a t io n s o f $ 1 ,0 0 0 e a c n . r e p r e s e n t i n g 4
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v a lu e .
S e e fo r m V . 8 0 , p . 1 85 6.
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V . 80, p. 2 3 9 8 ;
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p . 1550.
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V . 84, p. 1550.
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C edar
F a l ls ,
& c .,
I
C o a lv i ll e . I o w a .........................
in
b r a n c h e s . .............. .................. ............. 21 |
T r a c k a g e r i g h t s C o u n c il B lu ffs
Track'Uie, A c . (total, 83 miles) —
t o S o u t h O m a h a — ..............
y
S t . P a u l t o M i n n e a p o l is ____________ 101
C h i c a g o T e r m i n a l s .................... .............10| W l s . M i n n . & P a c . R R . . 271 m ile s
M a n k a t o t o R e d W i n g ..............
D u b u q u e t o A i k e n --------------------------- 1 4 1
R e d W i n g t o O s a g e .................... u g .
D e s M o in e s T e r m i n a l s _____________
3f
W i n o n a t o S i m p s o n ................. ..
54
B e v e r l y t o K a n s a s C i t y ____________ 3 7 I
B r a n c h t o C l a y B a n k s ________
$
S t . J o s e p h t o B e e C r e e k ____________
9 1
G r a n d t o t a l o w n e d , le a s e d a n d o p e r a t e d u n d e r c o n t r a c t ...................... t , 49 <j
• D e d u c t S u m n e r t o W a v e r l y , l a . , le a s e d J a n . 1 1 9 0 4 t o W a t e r l o o
& C . F . R . T . R y .....................................................................................................................
22
T o t a l o p e r a t e d ----------------------------------------------------------------------------------------------- 1 ,4 7 4
H I S T O R Y . — T h e C h i c a g o S t . P a u l & K a n s a s C i t y w a s o r g a n iz e d In M « r
1 8 8 6 , a n d In D e c e m b e r 1 8 8 7 m e r g e d w it h M i n n e s o t a & N o r t h w e s t e r n .
Io
A u g u s t 1892 re o r g a n iz e d p e r p la n , V . 5 5 , p . 8 5 6 .
O n S e p t . 7 18i>3 t h e G r e a t W e s t e r n a c q u ir e d b y d e e d t h e t i t l e o f t h e
C h i c a g o S t . P a u l & K a n s a s C i t y R y . (8 1 5 .0 7 m i l e s ) .
In J u n e 1902 t h e o ld
m o r t g a g e s w e r e s a t is fie d o f r e c o r d : V . 7 4 . p . 7 2 6 .
A s t o 7 -y e a r c o n t r a c t s
m a d e In 1 9 0 2 w it h p a c k i n g c o m p a n i e s , s e e V . 7 5 , p . 3 4 1 .
S E C U R I T I E S . — T h e h o l d e r s o f debentures a ".d preferred A s t o c k a p p o i n t
t h e fin a n c e c o m m i t t e e , w h ic h e x e r c i s e s g e n e r a l s u p e r v is io n o f fin a n c e s .
A d d i t i o n a l s e c u r i t ie s o f s a id Issu es c a n b e p u t o u t . b u t o n l y w it h c o n s e n t
o f a m a j o r i t y o f b o t h said cla s s e s o f s t o c k p r e s e n t at a m e e t i n g .
Securities
o f o t h e r Issu es h a v i n g a li e n p r io r t o p r e fe r r e d A c a n be c r e a t e d , but only
w it h c o n s e n t o f t w o - t h i r d s o f b o t h c la s s e s .
T h e s e v e r a l classes In c a s e 01
li q u i d a t i o n w ill h a v e p r in c ip a l p a i d In g o l d , a c c o r d i n g t o t h e ir p r io r it y r i g h t
t o d i v id e n d s .
A t e x t r a o r d i n a r y g e n e r a l m e e t in g s o f h o l d e r s o f d e b e n t u r e
ow., 1907.]
RAILWAY STOCKS AND BONDS.
MAP
35
OF TH E
C H IC A G O , C IN C IN N A T I
L O U I S V I L L E E . R.
1
r
A\ \V/ W /
MAP OF THE
Chicago, Cincinnati & Louisville
Railroad.
E n tr a n c e iitld T erm iu n i a t C in c in n a t i.
RAILWAY STOCKS AND BONDS
36
R A IL R O A D S .
F o r explanation of column headings, A c ., see notes
on first page of tables.
I N T E R E S 7 OR D I V I D E N D S .
Date
M iles
of
of
Road. Bonds.
Chicago & E 111 (Concluded)
1903
Oar trusts Including int Oct ’07 due $10,921 m onthly
1903
Equipm ent bonds Series B due quarterly___________
1905
ido
do
Series C & D due $68,000 seml-an
1905
do Series E due $125,000 s-a (V 81 p 1 0 4 3 ) .Ba
1906
do Series F due $220,000 s-a (V 82 p 7 5 0 ) . Ba
249 1890
Chicago & Erie— 1st M gold Int guar till prln paid.Ce.c*
249 1890
Income bonds for $10,000 ,000 5 % no n -cu m _______N
1888
Terminal first mortgage g old _________________________
Chicago & Grand Trunk— See Grand Trunk W est R y .
Chicago Great W estern—
Debenture stock cumulative gold $ 3 0 ,000 ,000 ____
Preferred stock A $15,000 ,000 5 % gold____________
Preferred stock B 4 % ($24,000,000 authorized)____
Com mon stock $ 5 0 ,0 0 0 ,0 0 0 ___________________________
1903
Sterling 5-year notes (no mortgage) redeem at 1 0 1 ..
1904
Gold notes redeemable at 101________________________
1904
Gold notes $ 2 ,500,000 authorized red at 101 ..c & r
1906
Gold notes $ 1 ,0 0 0 .0 0 0 _______________________________
Gold notes ($56,727 due 1 9 1 0 )____________ ________
Chicago & Great Western— See Chicago Term Trans R R
Chicago Hammond & Western— See Indiana Harbor B e ltR R
26 1906
Chicago & III Mid— 1st M $ 5 ,000,000 g red t e x t .-I C .c *
1905
Chicago & 111 W — 1st M $500,000 g red par aft 3 yrs.AC
Chicago & Indiana Coal— See Chicago & Eastern 111
1900
Chic In d & So— Ind 111 & la 1st M $12,000,000 g .I C c*
1906
Consol M , $20,000,0000 gold _______________________
Chicago Indianapolis & Louisville— Common stock
Preferred 4 % non-cumulatlve $ 5 ,0 0 0 ,0 0 0 ________
289 1880
L N A & C 1st Main Line— N A to Michigan C it y .-c *
162 1881
1st M Chic & Ind D lv, Chicago to Ind gold____ c
509 1897
C I & L refunding mortgage $10,300 ,000 gold____ Ce
509 1897
do
gold 6s Issued for old consols______
1900
Con Stone Co 1st M gold guar p&i red t e x t ---------Indiana Stone R R first mortgage guaranteed----------60 1906
Indianap & Loulsv 1st M $6,u00,000 gold gu __Sc*
Chicago Indianapolis & St Louis Short Line— See Cle veland Clncin
S ite, or
Amount
Par
Value. Outstanding
1,000
1,000
1,000
1,000
1,000
1,000 &c
$698,777
678.000
1,020,000
2 ,000,000
3,740,000
,
12 000,000
10 000,000
,
300.000
Rate
%
1,000
1,000
1,000
....... 100
100
1,000
1,000
1,000
1,000
1,000
1,000
1,000
nati Chic
B a la n c e .........................sur.$130,604 s u r.$ 1 2 6,70 6su r.$191,400d ef.$ 141,647
O F F IC E R S .— P res., A . B . Stickney; V lce-P res., A . Oppenheim ; S e c ., R .
C . W igh t; T reas., R . O. Barnard: all of S t. Paul.
Directors—-A . B . Stickney, A . Oppenheim, S. C. Stickney, F . W eyer
haeuser, J. W . Lusk, C. O. K alm an, T . H . W heeler, H . E . Fletcher, R . C.
W ig h t.
N . Y . office, 31 Nassau S t.— (V . 85, p. 344, 5 99, 721, 917, 1002,
1028.)
CH IC AG O & IL L IN O IS M ID L A N D R Y .— Owns Auburn, 111., to Taylorville, 26 miles, of which 17 miles was opened June 1907. Stock authorized,
$2,0 0 0 ,0 0 0 ; outstanding, $ 1 ,000,000 (par of shares $ 1 0 0 ), a m ajority being
owned by Illinois Midland Coal interests. The bonds are subject to call
on terms to be fixed for the several Issues; the $780,000 bonds Issued on
the first 26 miles m ay be called at 110 on A u g. 1 1910 lor any subsequent
Interest day. See V . 82, p. 4 5 2 , 803.
(V . 8 2 , p. 803.)
C H IC AG O & IL L IN O IS W E S T E R N R R .— T o extend from W estern A v e ..
Chicago, southwesterly to Joliet, 111., with branches, a total of 54 miles, of
which 17 miles in operation.
Extension proposed Gary to Joliet. V . 83,
p . 491.
Stock, $1,00 0 ,0 0 0 as increased A u g. 1907; par, $100.
Bonds, see
table above.
Pres., W . E . Phillips. Office, 184 La Salle S t ., Chicago, 111.
— (V . 83, p. 491; V . 85, p. 404.)
C H IC AG O IN D IA N A & E A ST E R N R Y .—Owns Converse, I n d ., to Muncie,
43 miles.
In May 1907 the Pennsylvania Co. acquired all the securities,
the road being operated as part of the P itts. Cin. Chic. & St. Louis. V . 84,
p. 1181, 930.
For year ending June 30 1906 (receivers’ report), gross,
$ 1 1 8 ,8 9 9 ; net, $8,590; deductions, $39,675 ; b a l., def., $ 3 1 ,0 8 5 .— (V . 84,
p . 5 69, 930, 1181.)
CHICAG O I N D I A N A & SO U TH ER N R R .— (See M a p s N . Y . Cent. &
H ud. R iv. R R .)— Owns from South Bend, In d ., to Seatonville, 111., 192 m .
(former Ind. 111. & Iowa R R .) ; D anville, 111., to Indiana Harbor, In d .,
109 m .; branches 11 m . (former Ind. Harbor R R .) ; trackage 28 m .- total
3 40 miles.
A consolidation A p r .’06 of the Ind. 111. & Iow a, Ind. Har. R R . and D an
ville & Ind. H ar. R R . V . 8 2 , p. 8 03, 867. Stock, $ 2 0 ,0 0 0 ,0 0 0 , of which $5.0 0 0 ,0 0 0 is 4 % cum . pref., the Lake Shore & Mich. Southern subscribing for
$ 1 7 ,0 0 0 ,0 0 0 and the Mich. Cent, for $ 3 ,0 0 0 ,0 0 0 .
B O N D S .— O f the $12,0 0 0 ,0 0 0 Indiana 111. & Iowa 4s of 1901, $ 7 ,500,000
were Issuable only for new property and Improvements; of these $3*0,000
were issued In 1902. V . 71, p. 1269; V . 7 2 , p. 87, 722; V . 7 4 , p. 1251. O f
the consol 4s of 1906 $ 4 ,850,000 Is reserved to retire the old bonds.
E A R N I N G S .— For 8 m onths ending A u g. 31 1907, gross, $ 1 ,9 8 3 ,2 3 9 ; In
1 906 , $ 1 ,4 8 3 ,0 2 0 .
R E P O R T .— Report for year ending Dec. 31 1906, in V . 84, p. 8 65,
■howed: Gross, $2,332 ,7 3 2 ; net, $480,924; other Income, $3 2,249; charges
and taxes, $ 2 5 4 ,8 6 9 ; b a l., su r., $ 2 5 8 ,3 0 4 .— (V . 84. p. 8 0 3 ,8 6 5 .)
C H IC AG O IN D IA N A P O L IS & E V A N S V IL L E R R .— V . 8 4 , p . 1550.
780.000
500.000
Bonds— Princi
pal. When D u *.
Stocks— Last
Dividend.
First N at B ank, Chicago
Blair & Co, New York
do
do
do
do
do
do
Erie R R , New York
Erie R R
Erie R R , New York
To April 5 1913
T o Sept 1910
T o Jan 1 1918
F e b ’ 08-A u g ’ 15
Feb '08-F eb ’ 16
M ay 1 1982
Oct 1 1982
July 1918
J
& J
A & O
Semi-an ll-R. Benson & Co, Lon
don, England
Semi-an
Semi-an
F & A Blair & Co, New York
Semi-an R Benson & C o, London
July 15 1907 2 %
Apr
1 ’07 2 H
M &
J
&
4H g F &
g F &
5 g
M & N
M ostly o wned by
5 g
J
&
J
4H
5 g
5 g
|J
4.850.000
4 g !J
4 g
J
10,500,000 3 In 1906 J
5.000.000 4 in 1906 J
3.000.000
6
2 300.000
6 g
5.000.000
5 g
4.700.000
6e
43,000
6 g
In treasury.
5 g
1.500.000
4 g
ago & St Lo uis.
10 ,000,000
lkxxv.
When Payable, and by
Whom.
When
Payable
5
100 28,127,089
4 g
100 11,336,900 See text
100 23,103,842 J None 1
100 44,465.195 t paid ]
Various
5
Various U ,0 6 9 ,0 6 lt
5
5,000
2,499,697
5 g
999,273
S g
Various
80,969
5
stock and preferred A stock collectively holders of one-tenth of said stocks
outstanding, present or represented, constitute a quorum, and by a majority
vote have power to sanction any modification of the rights of said stocks.
For rights of stock see editorial in ‘ ‘ Su p p .” for O ct. 1897; see also V . 7 1 ,p .441
In 1898 the authorized issue of 4 % debenture stock was increased from
$ 1 5 ,000 ,000 to $30 ,0 0 0 ,0 0 0 , for future refunding and im provem ents.V . 66,
p. 133, 663, 1088.
In March 1907 $ 2 ,000,000 of the remaining $3,873,000
debenture stock was subscribed at £ 1 6 per $100 share, payable £2 on appli
cation, £ 2 on April 4, £ 1 2 July 1. V . 84, p. 7 45, 748, 1247.
In N ov. 1902 $6,500,000 common stock was issued to purchase part of
stock of the Mason City & Ft. Dodge R R . and part of stock of W is. M inn. &
Pacific R R ., 271 miles. V . 75, p. 1201.
The stockholders votea Sept. 7 1905 to authorize an Increase in the pre
ferred B stock from $10,0 0 0 ,0 0 0 to $ 2 4 ,0 0 0 ,0 0 0 , the new s-tock being ex
changed, dollar for dollar, for Mason City & F t. Dodge preferred stock.
V . 80 p. 2457 2620; V . 82, p. 1379.
In July 1907 it was proposed to Issue further securities for capital ex
penditures. V . 85, p. 344, 599.
T he gold notes are a direct obligation ahead ot the debenture stock. No
lien can be placed on property without providing for their paym ent.
V . 79. p. 902.
Equipm ent lease warrants June 30 1907, $437 ,92 6.
D I V I D E N D S .— On pref. “ A ” paid Jan. 1899, 2 % ; in July 1899 2 % ; in
1900 to Feb. 1904, 5 % yearly. In 1906, 5 % (A & O ); in 1907, A p r ., Z ^ % ;
O c t., none declared. V . 85, p. 721.
F IN A N C E S .— A s to $ 3 ,873,000 new debenture stock offered in March
1907 see above.
Both the Mason City & F t. Dodge R R . and the Wisconsin Minnesota &
Pacific R R . are operated for 100 years under agreements dated April 1
1901 , the Chic. G t. W e st, receiving their entire net earnings above Interest
on bonds and owning their entire stocks.
By later agreement the Mason
Oity & F t. Dodge receives 60 % on business Interchanged, any surplus above
Interest to be held for paym ent of future coupons. See separate statements
for each Co. V . 7 3 , p .5 66, 722; V .7 4 , p .9 3 ; V .7 5 , p .1201; V .8 0 , p .1911.
In April 1905 $12,0 0 0 ,0 0 0 Mason City & F t. Dodge 4 % bonds were sold.
See th at com pany and V . 80, p . 1 363 , 1911.
E A R N I N G S .— 12 m o s., 11 9 0 6 -0 7 ____ Gross, $ 9 ,1 3 9 ,0 8 7 ; net, $ 2 ,339,279
July 1 to June 30.
J19 05-06____ Gross, 8 ,5 7 3 ,1 4 8 ; net,
2 ,539,493
Earnings since Jan. 1904 are based on 818 miles of road proper, only the
aet earnings of the proprietary lines over bond Interest being Included.
R E P O R T .— Report for 1906 -07 , V . 8 5 , p. 9 1 7 , 102.
Year ending June 30—
1907.
1906.
1905.
1904.
Average m iles____________
818
818
818
874
Gross earnings-.....................$9 ,1 3 9 ,0 8 7
$ 8 ,573,148
$7,377,711
$ 8 ,022,674
N et incom e........ .............. ..
2,3 3 9 ,2 7 9
2 ,5 3 9 ,4 9 3
2,0 3 8 ,6 1 8
1,902,632
Rentals (incl. equipment)
430,142
426,951
433,516
431,368
Interest paid...........- ............
450,127
372,237
368,726
283,625
Int.ln cash on 4 % deb.stk. 1,0 4 4 ,9 8 4
1 ,044,978
1 ,044,976
1,044,976
D iv . on pref. stock “ A ” ( 2 ^ )2 8 3 ,4 2 2
(5 )568,620
__________(2 K ) 284,310
[V ol.
&
&
&
&
&
&
&
Various 1908
Various 1909
Aug 1 1909
Various 1911
1910 and 1912
A Chase N at B k ,N Y ; or Ch Feb 1 1956
J Am er Trust & Sav Bk.Ch July 1 1945
Treas, Grand Cent S tat’n
do
do
D J P Morgan & Co, N Y
D
do
do
do
do
do
do
do
do
do
do
N Am er Tr & Sav B k , Chic
S New York
J Standard Trust C o, N Y
July
Jan
June
June
July
Aug
July
July
May
Sept
Jan
1 1950
1 1956
28 ’07 1 H
2 8 '0 7 2 %
1910
1911
1947
1947
1920
1948
1956
CHICAG O
IN D IA N A P O L IS & L O U IS V IL L E
R Y .— Operates the
“ Monon R oute” from Chicago, 111., via M onon, In d ., to Indianapolis, In d .,
and Louisville, K y ., with branches. The system includes:
Lines owned—
M iles.
Oper. under contract—
M iles.
Indiana State Line to Indian
Chicago to Indiana State Line___ 20
apolis____________________________ 162 New Albany to Louisville________
6
2
New Albany to Michigan C ity___ 289 Connection in Indianapolis_______
Clear Creek to H arrodsb'g, I n d ..
9
Bedford to Swltz C ity ____________ 40
Swltz City to west of Linton______10
Orleans to French Lick S p r in g s .. 18
Br. to Swltz City (coal o n ly )____ 35
[Indiana Stone R R ________________
9
Total of all June 30 19 0 7 ___________________________________________________600
A lease for 999 years with Chicago & W estern Indiana (of whose stock this
com pany owns $1,000,000) gives entrance to Chicago on a mileage basis.
Owns one third interest in Kentucky & Indiana Bridge at Louisville, K y .
Owns entire stock of Indianapolis & Louisville R R ., projected from at or
near Indianapolis to Evansville, & c., of which 54 miles, from W allace J e t.,
In d ., to Shirley Hill, was opened O ct. 1 1907.
Dividends of 4 % are guar
anteed under 99-year lease and bonds guaranteed, prin. & int. See
“ Bonds” below. V . 82. p. 509; V . 83, p. 888, 1290; V . 85, p. 920.
H I S T O R Y .— Successor July 1 1897 of Louisville New Albany & Chicago,
foreclosed per p l a n In V . 63. p. 922. Suit settled. V . 7 5 . p. 1031.
In A ug. 1902 the Louisville & Nashville and Southern R y . acquired 93 %
of $ 1 0 ,500 ,000 common and 77 % of $ 5 ,000,000 preferred stock, on the basis
of $78 and $90 per $100 share respectively In their joint 50-year 4 % collateral
trust gold bonds at par, secured by the stock acquired. See description of
bonds under Louisville & Nashville. V . 7 4 , p. 1088, 1138; V . 7 5 . p. 28.
D I V I D E N D S .— On pref.. 1899. 1 % : O ct. 1900 to June 1907, both In
clusive, 4 % per annum .
On com m on, 1902, 1 % : 1903, 3 M % : 1904, June
1 H % : D ec., 1 H % ; 1905 and 1906, 3 % (J& D ); 1907, June, 1 J 4 % .
B O N D S .— Refunding mortgage covers road, equipm ent, &c. (includlnf
$1 ,0 0 0 ,0 0 0 stock of Ch. & W . Ind . and $240 ,00 0 stock of the Belt R y . of
Chicago); total authorized Issue Is $ 1 5 ,0 0 0 ,0 0 0 , of which unissued balance is
reserved to take up existing divisional bonds at m aturity. The Consolidated
Stone bonds were subject to call Jan. 1 1907. V . 74, p . 42.
Indianapolis & Louisville guaranteed bonds, of which $ 1 ,500,000 sold In
Feb. 1906 for 60 miles of road, balance Issuable at $30,000 per mile. See
above. V . 82. p. 508; V . 8 3 . p. 1290.
E A R N I N G S .— 1 m o.
,1 1 9 0 7 - ............ ..G r o s s , $499 ,13 4; net, $182 ,45 8
July 1 to July 31.
\ 1 9 0 6 ................. Gross, 507,1 5 6 ; net, 193,714
A N N U A L R E P O R T .— In V . 8 5 . p . 7 8 7 , showed:
Year ending June 30—
1906-07.
1905-06.
1904-05.
1903-04.
Gross earnings.......................$5,98 8 ,8 6 7
$ 5 ,921,002
$ 5 ,614,903
$5,300,623
1 ,983,063
1 ,979,710
1,884,454
Net earnings......................... 1,8 2 5 ,4 1 6
Dividends, & c.. received.
233,189
249,475
160,432
257,031
Total net Income______$2,058,604
Interest on bonds________
$772,100
Rentals, & c_______________
291,478
$2,232,538
$772,100
262,801
$ 2 ,140,142
$772,100
2 53,094
$2,141,485
$772,100
250,023
$1,034,901
$1,02 5 ,1 9 4
$1,022,123
T o t a l ...................................$ 1 ,063,578
Surplus for dividends____
$995,026
$ 1 ,197,637
$ 1 ,114,948
$1,119,362
Dividend on p re f., 4 % ___
200,000
2 0 0 ,0 0 0
2 0 0 ,0 0 0
2 0 0 ,0 0 0
(3)315,000 (2 H) 288,750 ( 2 ^ )2 6 2 ,5 0 0
Dividend on com m on____ (3)315,000
O F F IC E R S .— P res., W . H . M cD oel, Chicago; V ice-P res., Morton F .
Plant, New York; Treas., Byron Cassell, 198 Custom House Place, Chicago;
Gen. M gr., B . E . Taylor, Chicago; Sec., J. A . H ilton. 80 Broadway, N Y .
Directors.— Thos. W .J o v c e , A . H . aillard. A . T . French, Chas. Steele.
R . M. Gallaway, Tem ple Bowdoln, Morton F. Plant, New York; W . H .
M cD oel, Lewis W . Parker, E . C. Field, Chicago; J.M urdock, Lafayette, In d .
— (V . 83, p. 686, 888, 1347; V . 84, p. 101; V . 85, p. 722, 787, 920.)
C H IC AG O JO LIE T & K A N SA S C IT Y R R .— Projected from Chicago, via
Joliet to Kansas C ity, M o., about 500 miles, with branches to Kelthsburg,
M o., etc.
Promoted by Dolese & Shepherd, of Chicago, who are Interested
In the Chicago & Illinois W estern, and an Eastern syndicate. Stockholders
voted O ct. 15 1906 to Increase the authorized stock from $1,000,000
to $ 1 2 ,0 0 0 ,0 0 0 , of which $ 2 ,000,000 preferred, and make a bond Issue
Of $ 1 2 ,0 0 0 ,0 0 0 .— (V . 83, p. 3 79, 4 9 1 , 969.)
CHICAG O JUNCTION R R .— To be an elevated road, 3.75 miles of track
(to be completed Feb. 1908), extending from Junction with South Side
Elevated R R . at 40th St. to the Stock Yards.
Leased to South Side E lev.
for 50 years (with right to purchase at cost within 20 years) at a rental
covering bond Interest and all expenses. Capital stock, $50,000 .
Bonds
are guaranteed, prln. and in t., by Chicago Junction Railways & Union
Stock Yards C o.; they are subject to call at 105 after 1910.
Form of guar
an ty , V . 82, p. 5 6 8 .— (V . 85, p. 792.)
C H IC AG O JUN CTIO N R A I L W A Y .— Owns inner line within the Chicago
Union Stock Yards district, 11.81 miles, side tracks and Industrial tracks,
118.58 miles.
In June 1907 the Vanderbilt (New York Central) Interests a rra n g ed to
acquire the outer belt line, assuming the $ 2 ,500,000 outstanding bonds,
leaving property free of liens. V . 85, p. 159, 792.
E A R N I N G S .— For year ending Dec. 31 1906 (76 miles first track ), gross,
$ 2 ,7 7 0 ,2 9 9 ; net, Including other income, $1,0 1 7 ,3 0 1 ; charges. $820 ,85 9;
dividends ( 6 % ) , $ 1 32 ,00 0; surplus, $64,441 — (V . 80. p. 649. 711; V . 84,
p. 1488; V . 85, p. 792.)
CH IC AG O K A L A M A Z O O & S A G IN A W R Y .— Owns 55 m ., Pavilion to
W ood bu ry, Mich. Acquired In Dec. 1906 by Mich. Cent. (New York Cen
tral system ), but will be operated Independently. V . 84, p. 50. Stock,
c o m ., $ 2 , 0 0 0 , 0 0 0 ; pref., $450,000: outstanding, $ 4 5 0 ,0 0 0 each; par of
shares. $100. The 1st m ort. is for $225,000 to Union Trust Co. of Detroit
as trustee; bonds all In treasury; current accounts Dec. 31 1906, $ 4 7,292 .
In 1906, gross, $153 ,78 1; net, $53,262 ; Int. and taxes, $13,874 ; dividends,
$ 2 7,000 .
Pres., H . B. Ledyard. Detroit; Treas. and Secy., W . J. K ealey,
K alam azoo, M ich.— V . 61, p. 1063; V . 84, p. 50.)
O ct ., 1907. J
RAILWAY STOCKS AND BONDS.
37
RAILWAY STOCKS AND BONDS.
38
R A IL R O A D S .
For explanation of column headings, <fcc., see notes
on first page of tables.
Chicago Junction RR— 1st M $2,327,000 gold red 105c’
Chic Milw A Gary— 111 I A M 1st M $5,000,000 g redlec
Chicago Milwaukee & St Paul— Com stock (see text)
Preferred stock 7 % yearly, not cum . $ 1 2 4 ,6 5 4 ,4 0 0 ..
I A D Exten 1st M convertible into preferred..F .c*
S W D iv first mortgage W estern Union R R -----------c*
Southern Minnesota Division first mortgage-------F.c*
Mineral Point Division first mortgage-------------- F.c*
H ast A Dak D lv E x t first mortgage $990,000 5s) F.c*
Lacrosse A D av Division first m o r t g a g e .-------F.c*
W ise Val R R Co 1st M Tomah to Merrill, W l s ------ c
W ise Val Dlv 1st M sink fd not drawn-------NB.c*
Dub Div 1st M sinking fund not drawn-------NB c*
Chic A Pac D lv 1st M (Chic to K ittredge)---------F.c*
do W estern D iv 1st M (see text) g o ld -------F.c*
Chicago A Lake Superior Div 1st M gold------- F.c*
W ise A Minn Div first mortgage gold-------------------F
Fargo A Southern first mortgage gold assumed-----Chic Mllw A St P Terminal mortgage gold-------F.c*
D akota A Great Southern first mortgage gold-------F
Chicago A Missouri River D iv. first m o rtg a g e..F .c*
General M (for $150,000,000) gold Series A . U .c* Ar
do
do
Series A registered----------------do
do
Series B ...................................... c*
do
do
Series B registered------------------Milwaukee A Northern 1st M Schwarz to Gr B a y ..c *
Consolidated mortgage . _______ —
---------------c*
Chicago A N. W . Com stk $177 ,60 4,88 0 a u th -------Tr
Preferred stock (not cumulative) see te x t............. . .T r
Chic A N W con sink fd M ($12,900,000) not d r.F .c*
Cedar Rapids A Missouri River— 1st M 3d D i v ..
Mortgage of 1884 Cedar Rapids to Des Moines Rlv
Madison Exten 1st M g (s f $23,000 not drawn) _ .F
Menominee Exten 1st M g (s f $20,000 not dr’n) _F
Northw Union 1st M gold Mil to F o n d -d u -L a c .-F
[V ol.
I N T E R E S T OR D I V I D E N D S .
M iles
Date
of
of
Read. Bonds.
1905
125
___
335
212
419
133
395
185
107
161
351
120
1,117
68
230
119
_
159
77
5,722
5,722
5.722
5,722
126
362
4,273
4,273
788
150
122
129
114
62
1904
__
1878
1879
1880
1880
1880
1879
1879 1880
1880
1880
1881
1881
1881
1883
1884
1886
1886
1889
1899
1889
1899
1880
1884
__
__
1865
1S66
1884
1871
1871
1872
Size, or
Amount
Par
Value. Outstanding
$1,000 $2,200,000
1,000
2,820,000
100 8 3 ,107,100
100 49,922.500
1,000
350,000
1,000
4,0 0 0 ,0 0 0
1,000
7,432,000
1,000
2,840,000
1,000
6,670,000
1,000
2,500,000
1,106,500
500
1.000
2,002.000
1.000
5,300,000
3,000,000
1,000
1,000 25,340.000
1,000
1,360,000
1,000
4.755,000
1.000
1,250,000
1,000
4,7 4 8 ,0 0 0
1,000
2,8 5 6 ,0 0 0
1,000
3 ,083,000
1,000) a 2 4 ,000,000
1.000 J
1,0001 a 15,978,000
1,000]
1,000
2,155,000
1,000 n 4,003.000
100 9 9 ,615,800
100 22,395,100
1,000 12,832,000
500 Ac
2,332,000
769,000
500 Ac b2,977,500
500 Ac c 2 ,546.500
500 Ac d3,365 000
____
Rate
%
4 g
5 g
7 In 1907
7
7
6
6
5
5 A 7
5
7
6
6
6
5 g
5 g
5 g
6 g
5 g
5 g
5
J 4 g
j
4 g
| 3^ g
I
3^g
6
6
7 in 1907
8 In 1907
7
7
7
7 g
7 g
7 g
a Including June 1907 $7,028,000 of 3 H s and $159, 000 of 4s in treasury and not lis ted (see
Also in sink, fund Ju ly, 1907:
b $172 ,50 0; c $150, 500; d $135,0j00.
1
wnen
Payable.
riere jrayaoie, ana s j
Whom.
M
M
A
A
J
J
J
J
J
J
J
J
J
J
J
J
J
J
J
J
J
J
A S N W Harris A Co, Chte
A S New York or Chicago
A O N Y Office, 42 Broadway
A O
do
do
J
do
do
A
J
do
do
A
A
J
do
do
do
A
J
do
do
A
J
do
do
A
J
do
J Lee Higglnson, Boston
A
A
J Office, 42 Broadway
J
do
A
do
J
do
do
A
Ji
do
A
do
J
do
do
A
J
do
A
do
J
do
do
A
J
do
do
A
J
do
do
A
J
do
do
A
JJ
do
do
A
do
do
Q— J
J
do
do
A
J
do
do
0—J
do
A D
do
J
do
do
J
A D
J
J Co s office, 111 B w ayA x
A
do
Q— J
ao
do
Q— F
do
do
do
M A N
do
J
A D
do
do
do
A A O
do
do
A D
J
do
M A
S
do
t e x t ).
n $1,08 9 ,0 0 0 additional
lxxxv.
Bonds— Princi
pal, When D ue.
Stuck 3— Last
Dividend.
Mar 1 1945
Mar 1 1944
O ct. 3 ’07 3V4
fe>ct. 3 '07 3 Hi
July 1 1908
July 1 1909
Jan 1 1910
July 1 1910
Jan 1 1910
July 1 1919
Jan 1 1909
July 1 1920
July 1 1920
Jan 1 1910
Jan 1 1921
July 1 192)
July 1 1921
Jan 1 ls>24
July 1 1914
Jan 1 1916
July 1 1926
May 1 1989
May 1 1989
May 1 1989
May 1 1989
June 1 1910
June 1 1913
July 1 1907 3 V4
Got 1 1907 2 %
Feb 1 1915
May 1 1916
June 1 1909
tApril 1 1911
J une 1 1911
June 1 1917
in treasury.
In 1906 the Union Pacific system (Oregon Short Line) acquired $2,69 0 ,0 0 0
CHICAG O M IL W A U K E E & G A R Y R Y .— (See M a p on page 7 3 .)—
stock and subscribed for $2,76 7 ,5 0 0 new stock. V . 84, p. 572.
I f merger proposed in 1907 be consum m ated, will operate Rockford, 111., to
In A ug. 1900 stockholders were offered the right to subscribe to $25,Momence, 125 miles, of which Aurora to Joliet, 24 miles, is Elgin Joliet A
000,000 common stock and in Dec. 1906 to $66,328 ,000 preferred and $33,Eastern trackage; extensions projected from Rockford, 111., to Milwaukee,
164,300 common stook at par, with Installments p a y a b e to March 1909.
W is ., via Beloit and Janesville, 103jniiles; also from a connection at PeoSee ST O C K above.
tone, 111., to G ary, In d ., 35 miles. -Owns entire stock and bonds of Rock
Average freight traln-load in 1906-07 was 289 tons; rate per ton per mile.
ford Belt R y . V . 81, p. 1175.
0.8 5 5 c .; in 1905-06, traln-load 862 tons; rate per ton per m ile, 0.282c.
Proposed consolidation of the Illinois Iowa A Minn. wlthfthe,Mllwaukee
Rockford & Eastern and the Illinois Indiana & Gary. V . 84, p. 508, 1307.
E A R N I N G S .— For 12 m os. ending June 30 1907 , gross, $ 6 0 ,5 4 5 ,5 5 4 ,
Stock, $5,0 0 0 ,0 0 0 , all outstanding; par of shares, $100.
against $55,423,05-1 in 1905-06.
B O N D S of 111. Iowa & Minn, are subject to call at 107 and int. o n 6 m o s .’
A
N N U A L R E P O R T .— Fiscal year ends June 30.
Annual meeting is
notice; of the $5,000,000 bonds authorized, $4,000,000 was issuable at not
celd in Sept.
Report for 1906 07 was given in V . 8 5 . p. 652; e d it., p . 631.
exceeding $30,000 per mile of main track when completed in 10-mile sec
tions.
The remaining $1,000,000 is issuable (a) on vote of not less than
1904-05.
1905-06.
1906-07.
two-thirds of the stock for acquisitions of completed connecting lines, the
6.908
Average miles operated June 3 0 ___
7,049
6,961
bonds to be a first lien thereon at not exceeding $30,000 per mile, or (b) at
Passenger earnings.________________ $ 1 2 ,102 ,196
$ 11,123 ,545
S i t , 126,958
not exceeding $200,000 yearly for additional lands, buildings, side tracks,
35,968,947
Freight earn ings____________________ 44.11 5 ,0 5 9
4 0,18 7 ,7 1 0
second tracks, terminals, improvements and rolling stock, but only when
4 ,111,798
3.788,209
Mall, express. A c ., earnings_______
4.3 3 1 ,2 9 9
the portion of the road for which they are acquired is in operation. V . 78,
p. 2599; V . 79, p. 103. Pres., H . W . Seam an, "T h e R ookery,” Chicago,
$55,423 ,053
$49,884 ,114
Total earnings____________________ $60,548,554
111.— (V . 84, p. 996, 1307.)
$ 5 ,336,626
Maintenance of w a y ________________ $ 5 ,830,868
$5,955,432
5 ,181,586
5 ,598,046
Maintenance cars and engines...........
8,5 S9,75 7
CH IC AG O M IL W A U K E E & ST. P A U L R Y .— {See M a p of Extension.) —
1 8 ,280,457
19,699,381
Transportation, gen. expenses, A c . 2 2 ,782,468
Operates from Chicago westerly to St. Paul, Minneapolis and Lake Superior,
1,730,729
1,632,333
T a x e s ________________________________
2 ,286,097
Om aha. N eb ., and Kansas C ity, M o., with lines traversing Illinois, Iow a,
1,511,758
__________
Renewal account____________________
Missouri, Michigan, Wisconsin, Minnesota and the D akotas, viz.:
712,331
’ 619",960
Additions to property____________ _
946,868
Road—
M iles. I Road—
M iles.
1,236,654
1,243,079
Miscellaneous____________ ______ _____
1,250,349
Lines owned (of which 28 miles
ISecond and third tracks................... 4 34
owned jo in tly )............................. 7,187 !Trackage (including 2d track ). . .289
$36,444,331
$32,294 ,040
,$41,686,507
$18,978,722
H I S T O R Y , A c .— The Milwaukee A St. Paul R R . Co. was organized May
$17,590,073
$18,862,048
N et earn ings____
258,359
5 1863 and on Feb 11 1874 took Its present name. The system has since
230,798
1,068,736
been greatly extended by the construction and acquisition of other lines.
$19,237,081
The sale of the Milwaukee A Northern to the St. Paul was ratified in Sept.
$17,820,871
$19,930 ,784
$ 5 ,913,850
1893.
The W hite River Valley R R ., with $50,000 ,000 authorized stock,
$ 5 ,942,140
$ 5 ,962,045
2,540,467
In July 1907 completed its line from Chamberlain, S .D ., the present western
498,831
New equipm ent_________________
terminus of the St. Paul, to Rapid C ity, 219 miles. V . 80, p. 1110; V . 81,
$10,782 ,764
$1 1,858,826
p. 849, 1492; V . 83, p. 682; V . 85, p. 220.
$13,489 ,813
Balance for dividends________
$ 4,072,873
The Pacific extension from western terminus at Glenham, S. D ., to Seattle^ Dividend on com m on, 7 % ___
$4,072,872
. $ 5 ,810,598
and Tacom a, 1,380 miles, is expected to be completed by Mch. 1909.
See
3,4 3 3 ,8 7 8
3 ,4 8 5 ,5 0 3
3,472,868
Dividend on preferred, 7 % ____
V . 84, p. 219; also V . 81, p. 1609, 1664; V . 83, p. 94, 686, 1469; V . 85, p. 468,
$ 4 ,352,075
792
The line is expected to be completed to Butte, 721 miles, in the spring
. $4,193,712
$3,237,025
of 1908, o f which 235 completed Oct. 1907.
In May 1906 the M ontana R R .,
O F F IC E R S .— Chairman, Roswell Miller, 42 Broadway, New York; P r es..
Lombard to Lewiston, M ont., 157 miles, and branch, 6 miles, was acquired,
Albert J. Earling, Chicago; T reas., F G. R anney. Chicago; Gen. M gr., W . J.
and will form part of the Pacific Coast extension. V . 82, p. 1211.
Underwood; S e c., E . W . A d am s, Milwaukee.
C A P IT A L S T O C K .— The preferred stoek has a prior right over the com
Directors— Roswell Miller. New York: A . J. Earling, Chicago: Frederick
mon stock to a dividend of not over 7 % from net earnings in each year, but
Layton L. J . P etit, Milwaukee; J. Ogden Armour, Chicago; Frank S. Bond.
If not earned it has no cumulative right. After paym ent of 7 % on preferred
W illiam Rockefeller Peter Gedaes. John A Stewart Percy A . Rockefeller,
and 7 % on com mon, both classes share pro rata.
W alter P . Bliss, Charles W . Harkness, Henry H . Rogers, New Y o rk.
The authorl7ed common stock was increased In 1902 from $ 5 8,183 ,900 to
New York office, 42 B ro a d w a y — (V . 85, p. 4 6 s , 652, 7 9 2 , 863.)
$ 8 3 ,183 ,900 and in Oct. 1906 to $158 ,18 3,90 0. V . 83, p. 890.
The preferred stock on Dec. 31 1873 was $ 1 2 ,274 ,483 ; it was increased
C HICAGO & NORTH W E S T E R N R Y — (See M a p .) — Operates an im
to $49,747 ,400 almost entirely by exchange of convertible bonds for stock,
portant svstem of roads uniting Chicago, 111., with O m aha, N e b ., St. Paul
only about $9,000,000 having been issued for other purposes (Improve
M inn., with the great wheat belts of Dakota, Nebraska. A c ., and with the
m ents, A c.)
In Oct. 1906 the authorized amount was Increased by
mining regions of Michigan and the Black Hills, Including—
5 75,000 ,000 to $124,654,400; V . 83, p. 890.
In July 1907 only $350,000
Road owned tn fee—
M iles.
M iles.
bonds exchangeable for preferred stock remained outstanding.
MAin lines, A c .................................. 7,382 Sundry trackage...............................
38
In Aug. 19U6 stockholders were offered the right to subscribe to $ 2 5 ,Entire stock owned—
0 00,000 common stock at par, increasing the amount outstanding to
Princeton A W e ste rn ...................
]6i
Total July 1 1 9 0 7 ...................... 7.623
$ 8 2 ,9 1 1 ,3 0 0 .
V . 83, p. 379, 890.
In Dec. 1906 stockholders were offered
Manitowoc Green Bay A N . W .
2d track .............................................. 811
the right to subscribe p ro ra ta for $66,328 ,500 preferred and $33,164 ,300
123 | Large interest owned—
(le a s e d )---------------------------comm on stock at par, of which 1 0 % payable Dec. 31 (or In case of non
Chicago St. Paul Minneapolis A
St.
Paul
Eastern
Grand
Trunk
resident holders Jan. 10 1907), 1 5 % June 1 and 2 0 % Dec. 1 1907, 2 0 %
(leased) .........................................
6 0 1 O m a h a ....................................... .... 1,711
June 1 and 2 0 % Dec. 1 1908, and the remaining 1 5 % Mch. 1 1909. The
D e Pue Land A East, (leased). i 3 1
proceeds will provide for the estimated cost of $75,0 0 0 ,0 0 0 for the Pacific
Coast extension, about 1 ,400m iles,and 500 miles of branches, and $25,0 0 0 ,H I S T O R Y . A c .— A Vanderbilt line (V . 7 5 , p. 1086) organized in 1859
000 for contingencies, further branches and equipment. This will Increase
In July 1884 the capital stock of the Fremont Elkhorn A Missouri V alley
the amounts outstanding to about $116 ,00 0,00 0 each of preferred and com
was acquired, and In Feb 1903 the road was absorbed. Its securities, e x
m on stock. The new stock m ay be Issued on paym ent of the final install
cept those held by Chic. A N . W ., are In table above. V . 75 p. 514, 5 16.
m ent or at such times and In such amounts as the directors m ay determine
On June 30 1901 purchased Sioux City A Pacific R R . V 7 2 . p. 7 2 1 , 1236;
V . 83, p. 1523; V . 84. p. 50, 101; V . 85. p. 98.
V . 7 3 . P. 444; V . 75. p. 446.
Dividends sin c e ’ 91] ’ 92. ’93. ’94. ’ 95. ’ 96. ’ 97-’ 00. ’01. ’ 0 2 -’ 06.
1907.
In 1900-05 various proprletarv roads were purchased. V . 7 1 . p. 2 91. 294;
V . 73, p. 294, 1010; V . 75, p. 446; V . 81. p. 840.
In fiscal year 1906-07,
On comm on, % . } 2
4
4
2
4
5 y ’ly .
6
7 y ’ly .
7
480 miles were completed and In July 1907 54 miles were under construc
On preferred. %J
7
7
7
7
7
7 y ’ly .
7
7 y ’ly .
7
B O N D S .— Abstracts of some of the older mortgages were published in the
tion, m ostly completed In 1907. V . 85, p. 6 59, 220.
“ Chronicle,” V . 45 p. 85, 114, 144, 212 and V . 48, p. 830.
C A P IT A L S T O C K .— Of the com m on stock. $ 2 ,3 3 6 ,8 6 7 , and o f the pre
Chicago & Pacific Western Division, see Supplement of Jan. 1901.
ferred $3,835 remained In com pany's treasury.In July 1907. Pref. stock has a
Terminal 5 % bonds of 1884 cover terminal property of several hundred
prior right to 7 % ; then common 7 % ; then preferred 3 % ; then comm on 3 % ;
acres In Chicago and Milwaukee.
then both classes share.
In 1903 the authorized com m on stock was In
The general mortgage of 1889 (see abstract In V . 48 p. 830) is for $150 0 0 0 ,0 0 0 , to the United States Trust Co. of New York, as trustee, and covers creased from $41,448 ,366 to $ 7 7 ,6 0 1 ,0 4 5 , and In Oct. 1906 to $ 177 ,60 4,80 0
(making the entire stock $ 2 0 0 ,0 0 0 ,0 0 0 ). Stockholders in Feb. 1907 sub
the entire railway property and franchises of the company (therein de
scribed for $24,4 0 1 ,6 0 0 common stock at par, raising the am ount outstand
scribed) subject to prior liens as below mentioned. The prior lien bonds can
ing to $ 9 9,618 ,900 .
In 1906 the Union Pacific system (Oregon Short Line)
not be extended, but will be paid off at m aturity.
acquired $2,57 2 ,0 0 0 stock. V . 84, p. 572; V . 75. p. 1085, 1146; V . 7 7 .
On June 36 1007 the following amounts of general mortgage bonds had
p. 576; V . 83, p. 379, 817, 1098; V . 84, p. 157.
been issued or were reserved for the purpose indicated, viz.;
The consolidated sinking fund bonds of 1915 have voting power.
A m ount In the hands of the public........................................................
$ 3 2 ,791 ,000
D I V .— 1'86 to '9 3 . ’94. ’95. ’96 to ’99. ’00. ’01. ’02 to ’05. ’ 06. 1907.
7 ,187,000
In treasury of the company (unsold) see belo w *..........................._
Com
. . f 6 yearly.
3
4
5 yearly.
6
6 7 yearly.
7
7
$39,978 ,000
Total reported by the company as outstanding........................
P r e f .. . J--------------------------7 yearly----------------- — —
--------------8 yearly-------------Reserved for prior liens..............................................................................
82,073 500
In 1902, on com m on, Jan ., 3 % : July, 3 % and 1 % extra; In 1903 to July
Available or eventually to become available for improve-1
1907, 7 % (paid JA J ).
On p f.. Jan ., 1 % % ; A p r .. 1 H % : July, 1 H % and
m ents, there being Included In this amount the bonds origi- )• 2 7 ,948,500
1 % extra: O ct., 2 % : in 1903 to Oct. 1907 In d ., 8 % (paid Q .-J .). The extra
nally reserved for prior liens, which have since beenl
divs. of 1 % each on the stocks In July ’02 increased the rate for the fiscal yr.
converted Into preferred and common s t o c k ..............................j ______________
Total authorized................................................................................... $150,000 ,T>oo ’ 0 1 -’02 to 7 and 8 % on the com. and pref. stocks respectively. V . 7 4 , p .1194.
B O N D S .— General Mortgage.— See Abstract in V . 65, p. 1 175. The
•Of the bonds In the treasury June 30 1905, $ 2 ,450,000 was sold In
authorized Issue Is $ 1 6 5 ,00 0,00 0 (United States Trust C o ., trustee). $ 1 3 1 .1 9 05 -06 . V . 8 2 . D. 1 4 3 7 , 1 4 9 6 .
645,000 were reserved to retire underlying bonds, and remalnaer for addlG E N E R A L F IN A N C E S , A c .— Capitalization per mile of road June 30
I tions and improvements, $ 4 ,000,000 at once and $ 1 ,0 0 0 ,0 0 0 a yea* there
1907; Stock, $18,505 ; bonds, $17,507: interest charge, $ 8,260.
after
V . 65, p. 1070. V . 65, p. 69, 1 1 1 , 571; V . 7 5 , p. 980.
_ A s to Pacific extension, see "H is to r y ” above.
39
RAILWAY STOCKS AND BONDS.
O ct ., 1907.|
[V ol.
RAILWAY STOCKS AND BONDS.
40
I N T E R E S T OR D I V I D E N D S .
R A IL R O A D S .
M iles
Date
of
of
Road. Bonds.
F or explanation o column headings, <fec., see notes
on first page of tables.
Chicago & North Western
(Continued)
W inona & St Peter 2d mortgage (now first) assumed
First mortgage ext gold land grant s f assumedF c*
Plalnvlew R R and Minn Valley first mortgages------R och & Nor Minn first mortgage guar (assum ed). .
D ak C 1st M on Southeast D iv (to Hawarden) g u . Un
O ttum C F & St P 1st M ($25,000 p m) g u a r .. Un.c*
Nor 111 1st M ($20,000 per mile) assumed____ Un.c*
Mllw Lake Shore & W consol M (now 1st) gold-C e.c*
Michigan D iv 1st M (for $3,000,000) g o ld ..C e .c *
Ashland Division first mortgage gold_______ Ce.c*
E x t & Imp M for $5,000,000 g s f not draw n.Ce.c*
Income bonds (not cumulative) no coupons — r
Marsh E xt 1st M $600,000 ($15,000 per m ).U n .c *
C & N W s f bonds of ’79 ($1 ,000 p m)red at 105 Fcr
Sinking fund debentures 1933 ___________ Un.c* &r
25-year debentures________________________ Un.c*&r
Chicago & North Western 30-year deben. Un.c* &r
Extension 4s $20,000 ,000 ($20,000 p m ) . . Un.c&r
General gold bond M $ 1 6 5 .0 0 0 ,0 0 0 .. _ .U s .c * & r
do
do
registered_____________________
Branch Line Bonds Assumed.
Boyer Valley R y 1st M g $16,000 per m lle ..F .c * & r
Minn & Ia R y 1st M gold $16,000 per m lle ..F .c * & r
Mankato & New U lm 1st M gold $ 4 1 6 ,0 0 0 -.F .c * & r
Southern Iowa first mortgage $1,120,000 g ..F .c * & r
Princeton & Northw 1st M $2,100,000 g o ld -.F .c & r
Peoria & Northwest 1st M $ 2 ,125,000 g o ld .F .c& r
Sioux City & Pacific 1st M gold $ 4 .0 0 0 .0 0 0 ..F .c & r
M inn & So D akota 1st M gold $5 2 8 ,0 0 0 _______ F.c*
139
184
Size, or
Amount
Par
Value. Outstanding
$1,000
100 &c
$1,592,000
k 4 ,038,500
250,000
200,000
2,000,000
1,600,000
1,500,000
5 ,000,000
1,281,000
1 ,000,000
4,148,000
500,000
400,000
12,053,000 5
9 ,800,000
15,369,000
g 9 ,819,000
h l7 489,000
M 20271,000 /
I
___
1867
1871
1878
1882
1882
1884
1885
1881
1884
1885
1889
1881
1892
1879
1891
1884
1891
1886
1897
1897
1,000
1,000
1,000
1,000
1,000
1,000
1,000
1,000
1,000 &c
1,000 &c
1,000 &c
1,000 &c
1,000 &c
1000 &c\
1000 &cj
90
119
26
56
105
85
125
33
1898
1899
1899
1900
1901
1901
1901
1900
1 ,440,000
1,000 &c
1.904,000
1,000 &c
p 416,000
1,000
1,000 &c N oneJ’ly ’07
1,000 &c n l ,940,000
2,125,000
1,000 &c
1,000 &c 03,926,000
528,000
1,000
24
125
64
76
413
82
40
693
"4 0
1,041
(and
In addition sinking fund July 1907 held: f $ 5 2 1 , 000
m $694,000 (and $12,186 ,000 on hand); n $160,000; o $74 ,000;
$10,000
p all in
Rate
%
When
Payable.
Where Payable
Whom.
7
7 g
7
7
6
5
5
6 g
6 g
6 g
5 g
6
5
& 6
5
5
5
4
3H g
3H g
M & N Co’s Office,
& D
do
J
do
Semi-an
M & S
do
M & N
do
M & S
do
do
M & S
M & N
do
& J
do
J
M & S
do
F & A
do
M & N
do
A & O
do
A & O
do
M & N
do
M & N
do
A 15 & O
do
F 15 & A
do
M & N
do
do
Q— F
3K
3H
3H
3H
3y,
3 i4
3H
3J4
J
J
A
M
J
M
F
J
g
g
g
g
s
g
g
g
&
&
&
&
&
&
&
&
on hand);
Z $181 ,000;
sinking fun d.
D
D
O
S
J
s
A
J
do
do
do
do
do
do
do
do
h $1 ,1 4 3 ,0 0 0 ;
111
and by
lxxxv.
Bonds— Princi
pal, When D ue
Stocks— Last
Dividend
B ’way
do
do
do
do
do
do
do
do
do
do
do
do
do
do
do
do
do
do
do
N ov 1 1907
Dec 1 1916
1908
Sept 1 1908
N ov 1 1907
Mar 1 1909
Mar 1 1910
May 1 1921
July 1 1924
Mar 1 1925
Feb 1 1929
May 1 1911
Oct 1 1922
Oct 1 1929
May 1 1933
N ov 1 1909
April 15 1921
Aug 15 1926
Nov 1 1987
Nov 1 1987
do
do
do
do
do
do
do
do
Dec
June
Oct
Sept
Jan
Mar
Aug
Jan
1
1
1
1
1
1
1
1
1923
1924
1929
1925
1926
1926
1936
1935
k $202 ,50 0;
___ u
r»
The sinking fund bonds of 1879 are secured by deposit In trust of $15,0 0 0 .000 of 1st M . bonds at $15,000 per mile on subsidiary lines, the most Import
ant being described In "Sup plem ent” of M ay 1894.
Of the sinking fund
bonds of 1879 So ,4 88,000 are 6s; the sinking fund Is at least 1 % of out
standing bonds, which are subject to call at 105, and through its operation
the amt.outstanding has been reduced from $15,000 ,000 to the figure In table.
The sinking fund debentures of 1933 have a sinking fund of $200,000 per
year. If they can be redeemed at 105. See description of all the debentures
on page 2, “ Supplem ent” of April 1895.
The extension bonds of 1886 are secured by deposit In trust of first mortgage
bonds at a rate not exceeding $20,000 per mile. Included In the collateral
July 1 1907 were $10,675 ,000 Fremont Elk Horn & Mo. Valley ls ts and
$2 ,5 6 0 ,0 0 0 W yom ing Central lsts (consolidated with F . E . & M . V . ) , &c.
See F . E . & M . V . bonds below.
The Fremont Elkhorn & M issouri Valley consols have a first lien on 1,170
miles (Frem ont, N e b ., to Deadwood, D . T . , 557 miles, and branches to
Hastings Albion, & c., 613 miles) but besides the am ount of Issue given as
outstanding In the table $ 1 0 ,675 ,000 (along with $2,56 0 ,0 0 0 W yom ing
Central firsts, A . F . E . & M. V . Issue) are held as part collateral for Chicago
& N orth Western extension bonds of 1886.
G E N E R A L F IN A N C E S .— Stockholders in Feb. 1903 subscribed for
$9 ,2 2 6 ,1 1 0 , in Ju ly 1905 for $ 1 0 ,609 ,200 , In M ay 1906 for $16,267 ,400 and
In Feb. 1907 for $24,401 ,600 common stock at par, the proceeds to be used
for Improvements, equipm ent, &c. V . 82, p. 452; V . 83, p. 379, 817, 1098.
New terminals In Chicago to cost $ 2 0 ,000 ,000 . V . 83, p. 890, 1036; V . 84,
p. 157; V . 85, p. 658.
E A R N I N G S .— For 2 m os. ending A u g. 31: Gross, $12,4 0 4 ,1 0 2 In 1907,
against $ 1 1 ,453 ,660 In 1906.
R E P O R T .— The annual meeting is held the third Thursday In October.
Report for 1906-07 at length In V . 8 5 , p. 651, 657; editorial p" 692.
Years ending June 3 0 1 9 0 6 - 0 7 .- 1905 06.
1904-05.
1903-04.
Average miles operated.
7,551
7,429
7,408
7,404
Passenger earnings______$ 1 6,111 ,789 $ 1 4 ,441 ,415 $13,339 ,714 $13,027 ,708
Freight........ .......................... 4 9 ,083,246 45 ,8 0 2 ,8 5 3
39,29 2 ,8 3 0
37,254,539
M ail, express, & c ............
3 ,0 8 3 ,8 9 6
3 ,237,310
3,112,731
3 ,052,387
Total earnings.............. $68,878 ,931 $ 6 3,481 ,578 $ 5 5 ,745 ,275 $53,334 ,634
Oper. exp. and t a x e s . . . 47,25 3 ,7 5 9 42 ,2 1 6 ,2 7 6
3 8 ,649,312
37,227,109
Net earnings..................$ 2 1,625 ,172
Total net receipts-...........$23,355 752
Interest on d e b t .. ...........
7 ,390,186
Sinking fund, & c ............
225,000
Dividend on common . . (7 )6,118,577
Dividend on preferred. . (8) 1,791,600
Real estate, const., & c ._
__________
Balance, surplus...........a $7 ,830 ,388
$21,265 ,302
$22,871 ,382
7 ,845.329
225,500
(7)4,692,313
(8) 1,791,600
6 ,000,000
$2,316,640
$ 1 7,095 ,963
$18,631 ,798
7 ,9 8 8 ,9 7 6
225,000
(7)3,383,324
(8) 1,791,600
4,6 0 0 ,0 1 0
$16,107 ,525
$17,596 ,760
7,9 7 1 ,5 1 8
225,500
(7)3,383,324
(8) 1,791.600
4 ,000,000
$642,898
$224,818
a In addition there were net receipts from lands in 1905-06 of $367 ,51 4;
In 1904-05 of $295,442; in 1903-04 of $1,1 7 4 ,7 6 6 ; In 1906-07, not given.
O F F IC E R S .— Pres., Marvin H ugh ltt, Chicago; V .-P . and Sec., E . E .O s
born, 111 B ’w ay, N . Y ; Treas. and A sst. Sec., R . H . W illiam s, N . Y .
Directors— W . K . Vanderbilt, F. W . Vanderbilt, H . M cK . Tw om bly,
Samuel F. Barger, Chauncey M. Depew, James Stillman, James C. Fargo,
Frank W ork , E . E . Osborn, N . Y .; Marvin H ughitt, Byron L . Sm ith, Cyrus
H . McCormick, Chauncey K eep, Chicago, H . C. Frick, Pittsburgh, P a .;
D avid r>. K im ball, Oliver A m es, Boston; Zenas Crane, Dalton, M ass.— (V.
84, p. 1113; V . 85, p. 220, 4 68, 651, 657, 1005.)
C H IC AG O PE O R IA & ST. LO U IS R Y .— R O A .D .— Owns from Pekin t(
Granite C ity, 111., 180 miles; Granite City to Madison, 2 miles; Madls<
to Bridge Jet., 3 m .; Havana to Jacksonville, Til. 42 m .; branch, L ook h a^
to G rafton, 8 m .; total owned, 235 m .; trackage, Pekin to Peoria, 10 rfi
in Springfield, 1 M m .; Granite C ity, 111., to S t. Louis Station, 9 m .; tofal,
255 y* miles.
Reorganization of Chicago Peoria & St. L. R R . and St. L. Chic. &jSt,
Paul R y ., sold in foreclosure Jan. 8 1900. per plan in Vol. 68, p . 7 2 2 .f
The July 1906 coupon on the consols was paid Dec. 1906 and the Jan. M 07
coupon In June 1907. The July 1907 coupon was deferred. V . 83, p. 1 ^ 3 ;
V . 84, p. 505.
F J. LIsman & Co. requested bondholders to communici
with them , with a view to protecting their Interests. V . 8 3 , p. 36.
B O N D S .— O f the $ 2 ,000,000 prior lien 4 H s , $200,000 are reserved for
Improvements. &c. Stock, com m on, $3,600 ,0 0 0 ; pref., $3,750 ,0 0 0 .
R E P O R T for year to June 30 1906 was In V 84, p 505.
In 1906-07,
Gross, $ 1 ,6 8 5 ,8 5 6 ; net, $257 ,4 0 5 ; other income, $3,325; interest and taxes,
$ 2 30 ,35 7; b al., su r., $ 3 0,374 . V ice-P res., John P . R am sey, St. Louis, Mo.
Sec. and Asst. Treas., H . W . Berger, Springfield, Til.; Treas. and A sst. Sec.,
C. M. Gleason, New Y o rk .— (V . 83, p. 1523: V . 84, p. 505, 1551.)
CH IC AG O ROCK IS L A N D & PACIFIC R A IL R O A D .— Incorporated In
Iow a on July 31 1902 as an operating com pany, per plan V . 7 5 , p. 239,
t o take over The Chic. R . I. & Pac. Railway.
The entire capital stock
($145,000 ,000 ) Is owned by The Rock Island (holding) Com pany.
B O N D S .— The collateral trust 4s of 2002 (authorized issue $75,000 ,000 )
are secured by a pledge with the trustee of an equal amount of the stock of
t h e C. R . I. & P. Railway as acquired.
In July 1907 $70,067 ,700 of the
$ 7 4 ,8 5 4 ,1 0 0 Railway stock had been acquired.
In 1906 $17,3 6 4 ,1 8 0 of an
authorized Issue of $18,500 ,000 collateral trust 5s of 1913 had been Issue 1
with Rock Island Co. stock In paym ent for $ 2 8 ,940 ,300 of the $29,000 ,00')
S t. Louis & San Fran. com . stock.
V . 76, p. 1406. Total Incomein 1906-07
$ 3 ,8 7 0 ,7 8 1 ; expenses, $1,591; int. on bonds. $3,668 ,9 7 7 ; divs. to Rock
Island C o ., $ 75,000 ; b a l., sur. for year, $ 1 2 5 ,2 1 4 .— (V . 85, p 1000.)
CHICAG O ROCK IS L A N D & PACIFIC R Y .— (See M a p Rock Island C o .,
pages 116 and 1 1 7 .)— The system extends from Chicago, 111., via Om aha,
N e b ., to Denver and Colorado Springs, C ol., and via Kansas C ity, M o ., to
Santa Rosa, New M ex., there connecting with the lines of the New Mexico
R y . and Coal Co. and forming with them and the Southern Pacific a through
line to the Pacific Coast: also from Tucum carl, N . M ., to M em phis, T e n n .,
and to Fort W orth , T e x ., on the south, and on the north to Minneapolis
M inn., and Watertown, S. D a k ., with numerous branches, viz. (see V . 7 5 ,
p. 1156: V . 76. p. 731:
M ileage leased—
M ile s
Mileage owned—
M iles.
182
Chic., 111., to Color. Sp ’gs, C o l_ l,0 6 4 Keokuk & Des Moines*________
Davenport l a ., to Terral, I. T _ 712 Peoria & Bureau V a lley*_______
W hite & Black River V a ll e y * ..
Herington, K a n ., to T exhom a,
O. T .................... .............. .............. 323 Little Rock & H ot Springs
23
W e s te r n * ______________________
Burl’g t’ n , la .,t o Mlnn’ap .,M in n 308
V in ton, l a ., to W atert’ n, S . D _ 376 R ock Isl. Ark. & Louisiana____
253
Branch lines______________________2,124
547
4,907 Trackage to St. Louis, Denver,
Pueblo, & c____________________
705
Capital stock, all owned—
Choc. Okla. & Gulf (le a s e d )* .. 981 Other lines under construction. 179
Chic. R . I . & El Paso....................
112
Chic. R . I. & G u l f . . ....................... 387 Total mileage oper. and under
construction June 30 1907___ 8,117
S t. Louis K . C. d^C ol.................. 299
•See these companies.
1,779
Branch from Little R ock, A r k ., southeast to Crossett, with branch to
Eldorado, 144 miles, was completed Jan. 1907 under charter of R . I. A rk.
& Louisiana R R ., connecting with the line from Eldorado, A r k ., to W lnnfleld. L a ., 100 m ., acquired In Sept. 1905; extension being built from W innfleld to Alexandria, L a ., 4 4 K m .; also one completed O ct. 1907 from A lex
andria to Eunice, A la ., 55 miles, at a connection with St. L . & San. Fran,
line, now building. The road is leased for 999 years. The charter permits
the construction of a through line from Little Rock to New Orleans. See
V . 81, p. 1551; V . 82, p. 9 9 ,8 7 0 , and bonds below; also Rock Island Co
The Rock Island interests in April 1906 acquired a half Interest In the
Trinity & Brazos V alley R y ., owning a line from Cleburne to H ouston, T e x .,
236 m iles, with branch to W axahachle, 70 miles, and trackage rights from
Cleburne to Fort Sm ith. W axahachle, to D allas and Houston to Galveston.
V 82, p. 870
H I S T O R Y .— A consolidation June 2 1880 with $50,0 0 0 ,0 0 0 stock.
In July, 1907 $70,067 ,700 of the $ 7 4 ,854 ,100 capital stock had been de
posited per plan V . 7 5 , p. 239, each $100 stock being exchanged for the fol
lowing securities: $100 in 100-year 4 % gold bonds of the Chic. R . I. &
Pac. Railroad (of Iowa) and $70 preferred and $100 common stock of the
“ Rock Island Com pany” (of New Jersey), which owns the entire capital
stock of the Railroad com pany. See statem ents for those companies.
In A u g. 1907 the Chic. R . I. & Pac. sold its holdings In the Chicago &
A lton , v iz ., $ 1 4 ,420 ,000 com m on and $ 6 ,380,000 pref., acquired in 1904,
to the Toledo St. Louis & W estern. V . 85, p. 468.
In 1902 most of the stock of the Burlington Cedar Rapids & N or. and
Rock Isl. & Peoria was acquired, and their roads leased from June 1 and
subsequently deeded to the C. R . I. & P . V . 7 4 , p. 1194, 1250.
Friendly
Interests control Dering Coal Co. and Consolidated Indiana Coal Co. V . 8 2 ,
p. 4 5 2 ; V . 80, p. 2 4 0 1 ,2 6 3 2 .
D IV I D ’S
I ’95. '9 6 . ’97. ’98. '99 to ’02. ’ 03. '0 4 . ’ 05.
’06.
1907 .
sin ce’9 4 . p .c .) 2
2 2
4
5 yearly.
7
814
&X
6 ,
In 1906 J an ., 1H % from earnings of five m os., April, 1)4 % : J u ly , 1 % ;
O c t ., 2 % ; in 1907, J a n ., 1 % ; April, 1 K % ; July, 1 % ; O ct, 1 H % .
Special distributions to stockholders, Including $1 63 per share June 17
1905, see V . 80, p. 2398.
B O N D S .— O f the general 4s of 1898 those unissued are available as fol
lows: $23,90.0,000 at not over $1,000,000 per annum for permanent Im
provements and additions, including equipm ent, and $ 1 2 ,500 ,000 to retire
the first 6s of 1917. Mortgage, Abstract in V . 66, p. 522; V . 7 8 , p. 228;
V . 80, p. 472.
The collateral trust gold 4s of 1902 ($24,000,000 authorized) are secured
b y deposit of all the stock of the Choctaw Oklahoma & Gulf R R . (see that
com pany.)
V . 7 4 , p. 7 75, 829, 936, 1356.
The refunding 4 % bonds of 1904 ($163,000 ,000 authorized Issue) are a
first lien (either directly or through pledge of the entire Issues of bonds o f
the companies owning the same) on terminal property In S t. Paul, Minne
apolis and St. Louis, new equipm ent, and shops at Moline, 111., and on rail
way lines aggregating 1,148 miles: also a junior lien subject to existing
mortgages on all the other lines of the system of the Railway com pany, ag
gregating, exclusive of leased lines and trackage, 5,659 miles. See General
Finances below; also “ Chronicle” of Jan. 28 1905; and full statem ent In
V . 78, p. 2 2 8 . 2 3 4 ; V . 7 9 , p. 1716, 2206; V . 84, p. 219; V . 85, p. 98. They
are Issuable as follows:
Issuable forthwith (compare "G en eral Finances” below ). . . — $15,000 ,000
Issued or Issuable to an amount equal to the value of bonds so
Issued, to acquire property, Including stocks and bonds--------- 2 5 ,000,000
Reserved to retire at or before m aturity all bonds of the railway
system falling due within the next 30 years (none of such
underlying bonds to be exten ded ), also to acquire $25,900 ,000
general 4s of 1898, Issuable for Im provem ents, viz.:
Bonds to Be Taken Up—
Chicago Rock Island & Pacific R y . gen. m ort. 4s
hereafter to be Issued, viz.:
(a) T o retire at m aturity 1st 6s of 1917---------------$ 1 2 ,5 0 0 ,0 0 0
(b) A t not exceeding $ 1 ,000,000 per year for ad
ditions and Improvements_______________________ 25,900,000
Burlington Cedar Rapids & Northern R y . Co. cons.
5s. Issued or hereafter to be Issued to retire:
(a) B . C. R . & N . R y . 1st mortgage 5s of 1906----6 .500.000
(b) C ed.R ap . Ia. Falls & N . 1st m ort. 5s of 1 9 2 1 .
1 .905.000
Choctaw Oklahoma & Gulf R R . (see that Co.) con
sol. 5s, hereafter to be Issued to retire $5,500,000
C. O. & G. R R . general m ort. 5s of 1919--------------5,5 0 0 ,0 0 0
Chicago Rock Island & Pac. R y . gold 4s of 1902
(Choctaw Oklahoma & G ulf stock collateral)____ 22,41 0 ,0 0 0
6 % notes of D . R . Francis, e tc ., paid Jan. 1 1905__ 4 ,500,000
R ock Island & Peo. R y .C o . consol, mort. 6s of 1925
450,000
Choc. O kla. & Gulf R R . equip, trust certificates___
2 ,3 6 0 ,0 0 0
------------------- $82,025 J) 00
Reserved to provide 7 5 % of purchase price of securities of
other companies hereafter acquired____________________________ - 1 3 ,5 0 0 ,0 0 0
Reserved to be Issued at not over $2,500,000 yearly from Jan. 1
1904 for future Improvements and equipm ent_________________ 27 ,4 7 5 ,0 0 0
RAILWAY STOCKS AND BONDS.
O ct ., 1907.]
RAILWAY STOCKS AND BONDS.
I N T E R E S T OR D I V 1 D E X D S .
R A IL R O A D S .
Date
of
Road. Bonds.
M lies
For explanation of column headings, dec., see notes
on first page of tables.
of
Chicago & North W estern— (Concluded)
195
Iowa Minnesota & Northwestern 1st M g o ld .F .c * &r
Frem Elk & M V cons M $25,000 per mile assumed 1,170
235
Chicago Peoria & St L— Pr lien M g call at 107 Yi -T a.c*
235
Consol M $2,000,000 gold call at 1 0 5 ________ Ta.c*
235
Income M gold (text) non-cum call-at par.............EC
Chic R I & Pac RR— Col tr M $75,000 ,000 _-C e.c*& r
Collateral trust M $18,500,000 gold red 102 y% ..C e .c ’
Chicago Rock Isl & Pacific Ry— Stock ($75,000,000)
764
1st M Chic, 111, to Council Bluffs & b ra n ch e s.. Us.c*
General mortgage $100 ,00 0,00 0 g o l d . B a .. ____ c*& r 3,260
Collat tr M g Ser F to P due yearly red 101
. .Ce.c*
Ref M $163 ,00 0,00 0 gold red 105 to 1911 ..C e .c * & r Text.
Gold coup notes red sec by R J Ark & L bon ds. .B a
292
C Rap I F & N W 1st M gold guar____________ Ce.c
1,291
B C R & Nor cons 1st M gold_________________ Ce.c*&r
12
Minneapolis & St Louis 1st M gold (assum ed)____ Ce
113
Rock Island & Peoria con 1st M (V .7 5 ,p .3 0 ) ____ Mp
378
Choc O & G general (now 1st) M $ 5 ,500,000 g ___ c*
282
Choc & Mem 1st M $3,750,000 assum ed___GP.c&r
L Rock Bridge 1st M assumed gold red (text) GPc*
1,018
Consol M (see text) $30,000 ,000 g o ld _____ GP.c*
Car trusts Series B due sem i-annually.............GP
Car trust Series C April yearly beginning 1903 G P
Rock Isl Ark & Louis 1st M $15,000 ,000 gold-----Ba
R ock Island-’ Frlsco Term 1st M g guar j o in t ly ..c *
Peoria R y Term 1st M g gu jointly red__________Ic
Equipm ent notes, due $325,000 sem l-an__________Ba
Chic & R I Elev M gold guar p & I redeem at p a r_.c*
Consol Ind Coal 1st M g lnt gu red 110 s f-G -C *& r
Chicago St Louis & New Orleans— See Illinois Central
Chicago St Paul Minn & Omaha— Common stock ____
Preferred stock non-cum including scrip (see text)
21
St Paul Stillwater & Taylors’ Falls first m o rtg a g e..c
12
Hudson & River Falls 1st M Hudson to River F alls.c
177
Ch St P & Minn 1st M gold Elroy to L St C ass’ d _ .c *
607
St P & Sioux City 1st M gold $10,000 per m ile .-C e .c
80
Nor W ls 1st M Lake St C to near Spooner, ass’ d Ce.c*
1900
1883
1900
1900
1900
1902
1903
1877
1898
1902
1904
1906
1881
1884
1877
1885
1894
1899
1899
1902
1901
1902
1906
1907
1907
1907
1904
1905
1878
1878
1878
1879
1880
81,000& c
1,000
1,000
1,000
1,000
1,000 &c
1,000
100
1,000 &c
1,000 &C
1,000
1,000 &r
1 ,0 0 0
1,000
1,000 &c
500
5,000
1,000
1,000
1,000
1,000
1,000
l.o o o
1,000
1,000
1,000
1,000
100
100
1 ,0 0 0
500 &c
500 &c
500 &c
1,000
1,000
f
Gross earnings............... $6 0,238 ,420 $ 5 1 ,237 ,858 $44,051 ,509 $44,969,491
Net earnings____________ $19,194 ,278 $16,1 7 0 ,8 0 0 $12,9 9 3 ,3 0 0 $ 1 3,194 ,598
Other Income ....................
745,182
1,015,837
1,526,172
1,333,833
Total in co m e ................ $ 1 9 ,939 ,460 $17,186 ,637 $ 1 4 ,519 ,472 $14,528,431
Taxes ___________________ $1,676 038 $1,63 1 ,8 9 0 $ 1 ,609,989
$ 1 ,437,578
Interest and rentals____
9,4 7 5 ,2 2 8
8 .747,017
8,176 373
7 .062,655
Im provem 'ts leased lines
37,676
21.897
- ............................ ............
Dividends ............... ( 5 ^ ) 4 ,1 1 6 ,7 2 8 ( 6 ^ ) 4 6 7 7 5 5 3 ( 6 ^ ) 4 6 7 6 0 2 2 t8)5,985,060
B ala n ce............................$ 4 ,633,789
$ 2 ,108,280
$56,487
$43,138
O F F IC E R S .— Chairman of Board, D . G. Reid; Chairman of Executive
Com m ittee. B . F . Yoakum ; President, B. L. Wlnchell; Vice-President, R . A .
Jackson; A sst. Sec. and Asst. T reas., Geo. T . Boggs; 2d Vlee-Pres., H . U .
Mudge: 3d VIce-P res., W . B. Biddle; 4th V ice-P res., C. W . Hillard; 5th
V ice-P res.. E. L. Pollock; Sec. and T reas., George H . Crosby
N . Y . O f
fice, 115 Broadw ay.— (V . 8 5 , p. 159, 653, 916, 1 0 0 0 , 1013.)
CH IC AG O ST. P A U L M IN N E A P O L IS & O M A H A R Y .— (See M a p Chi
cago & North Western.) — R O A D .— Elroy. W ls ., to Om aha, N eb ., 593 miles;
other lines, 1,118 m .: total. July 1 1907, 1,711 miles, of which 1,642 are
owned and 69 miles leased. V . 69, p . 1147.
Extension from Hartlngton to
Crofton, N e b ., 15 miles, was completed D ec. 1906.
Extension from
New Castle, N eb ., to W y n o t, 18 miles, Is to be opened late In 1907.
H I S T O R Y .— This was a consolidation July 1880 of the Chicago S t. Paul
& Minneapolis, the North W isconsin and the S t. Paul & Sioux City.
In Novem ber 1883 Chicago & North W estern R y . purchased control,
v iz ., $ 9 ,320,000 com m on and $ 5 ,380,000 preferred.
S T O C K .— Authorized com m on, $21 ,4 0 3 ,2 9 3 ; preferred, $12 ,6 4 6 ,8 3 3 .
Held by the com pany June 30 1907 . com m on stock and scrip, $ 2 ,844,207;
preferred stock and scrip, $ 1 ,3 8 6 ,9 2 1 .
Preferred stock has a prior right
to non-cum . dividend of 7 % ; but com . Is never to receive more than pref.
D IV S . 1*91 ’ 92 ’ 93 to ’96 ’97 ’98 ’ 99 ’00 ’01 ’02 '03 ’04 ’05 '06
1907
Com . %\ . . . .
N one.
2 2 3 ^ 5 5 8 6 6 7 7
7
P r e f .% ) 4 6 54 Since 7 per a n n .O H F .& A .) -----------------------------------------------B O N D S .— There are $75,000 Minneapolis Eastern 1st M . guar. 7s due
Jan. 1 1909; $1,500,000 Superior Short Line R y . bonds are owned. Chicago
S t. Paul & Minneapolis 1st 6s, due 1918, and North Wisconsin 1st 6s, due
1930, are exchangeable at option of holder at any tim e, dollar for dollar, for
consol. 6s of 1880, due 1930. V . 68, p. 521; V . 77, p. 2389.
L A T E S T E 4 R N I N G S .— From July 1 to Aug. 31 (2 m onths), gross,
$ 2,32 0 ,4 9 9 in 1907, $ 2 ,134,540 in 1906.
R E P O R T .— Year ends June 30.
Report for 1906-07, V . 85, p. 717.
1906-07.
1905-06.
1904-05.
Gross earnings..........................................$14,035,309
$12,943 ,750
$11,926 ,000
Operating expenses and taxes______
9 ,612,993
8 ,310,945
7 .676,528
$4,63 2 ,8 0 6
$123,499
1,491,166
(7)787,976
(7 )1,298,885
600,000
$4,249,472
$124,276
1,484,066
(7)787,976
(7)1,298,885
400,000
Surplus Of R R . C o................................ ..
$756,341
$331,280
$154,269
Net from l&na sales___________ ______
S67.379
$76,142
$71,197
— (V . 83, p. 622; V . 84, p. 507, 1113; V . 8 5 , p. 717.)
C H IC AG O S U B W A Y CO.— Incorporated In New Jersey N ov. 21 1904
and is the holder of over 99
% of the $30,0 0 0 ,0 0 0 authorized and outstandng stock of the Illinois Tunnel Co. and of the stocks of the Illinois Tele
phone Construction Co. and the Chicago Warehouse & Terminal Co.
A mount
Outstandino
Par
Value.
C H IC AG O R O C K IS L A N D & PACIFIC R Y . (Concluded).
O f the $66,8 5 1 ,0 0 0 refund. 4s dated 1904 outstanding in July 1907, $ 21,4 5 1 ,0 0 0 were Issued for refunding purposes, $15,0 0 0 ,0 0 0 to reimburse the
treasury, $20,4 0 0 ,0 0 0 for acquisition of property or securities and $ 1 0 ,0 0 0 ,000 for improvements.
O f the remaining $96,1 4 9 ,0 0 0 bonds authorized,
$ 6 0 ,5 7 4 ,0 0 0 are reserved for underlying bonds, $13,5 0 0 ,0 0 0 to pay for 7 5 %
of the purchase price of bonds of other companies, and the balance for imirovements and acquisitions of other properties or securities as prescribed
n the m ortgage.
Peoria R y. Term . 1st 4s ($1,500,000 authorized issue),
guaranteed jointly with Chic. & A lton , are subject to call at 102
after ten
years. V . 85, p. 159.
A s to Chic. R. I. & Pac. Elevator m tge., see V . 7 9 , p. 2590; V .8 2 , p .750.
A s to Consol. Indiana Coal 5s, Interest gu ar., see V . 80. p. 2401. 2623;
form of guaranty, V . 82, p. 1499.
Rock Island-Frisco Terminal R y . 5s,
guaranteed jointly, V . 84, p. 569, 748.
In April 1906 $ 6 ,000,000 of 4J4 % notes were sold, secured by deposit of
$7 ,5 0 0 ,0 0 0 Rock Island Ark. & La. 1st 4s. the latter being a lien on 257
miles of road and equipm ent. See above and V . 82, p. 8 0 3 . 101.
G E N E R A L F IN A N C E S .— Jan. 1906 $ 1 1 ,784 ,000 additional refund. 4s
were issued, of which $ 7 ,5 3 4 ,0 0 0 for improvements and equipment and bal
ance to retire underlying bonds: in July 1906 $5,97 0 ,0 0 0 for equipment and
underlying bonds; in Dec. $ 1 0 ,0 0 0 ,0 0 0 , of which $ 5 ,900,000 for equipment
and $ 2 ,5 0 0 ,0 0 0 for improvements; in May 1907 $ 1 0 ,0 0 0 ,0 0 0 , of which part
to retire the $7 ,5 0 0 ,0 0 0 notes due July 1 1907. remainder for Im provem ’ts.
V . 80, p. 1423; V . 82, p. 280, 750; V . 84, p. 219, 1247; V . 85, p. 98.
In Feb. 1907, $ 6 ,2 5 0 ,0 0 0 4 M % equipment notes were sold. V . 84. p .338.
L A T E S T E A R N I N G S .— J19 0 7 ____ Gross, $ 1 0 ,7 2 6 ,2 8 5 ; net, $ 2 ,629,350
2 m o s., July 1 to A ug. 31. ] 1 9 0 6 ____ Gross,
9 ,4 3 0 ,3 3 5 ; net,
3,033,177
R E P O R T .— Report for 1906-07, V . 85, p. 916, 1013; sec also editorial,
p. 977.
Year endlrig June 30—
1906-07.
1905-06.
1 9 04 -05 .
1908-04.
Miles operated___________
7 ,7 8 0
7,2 1 8
7 ,2 3 2
7,205
Passenger earnings______$16,449 ,765 $13,917,031 $ 1 2 ,050 ,781 $11,697 ,033
Freight earnings________ 40 ,6 6 3 ,9 7 2
3 4 ,6 9 5 ,8 2 4
29.662,386
31,167,006
Mail, express, rentals,Ac 3,1 2 4 ,6 8 3
2,6 2 5 ,0 0 3
2 ,338,342
2,105.452
Net earnings ........................................$4,422,316
Net rentals p a id ......................................
$122,527
Net int. on debt (less other Income)
1,456,555
Dividend on preferred stock............. (7)787,976
Dividend on com mon stock ............... (7 )1,298,916
Appropriation for Improvements. .
_______
[Vo l .
Rate
%
When
Where Payable, and by
Payable. j
Whom.
lxxxy
.
Bonds— Princi
pal, When D u e ,
Stocks— Last
Dividend.
$3,900,000
J
& J Co’s Office, 111 B ’y , N YLJan 1 19C5
6
A & O
7 ,725.000
do
do
foot 1 1933
1,800,000
do
do
(Mar 1 1930
4 k g M & St
2,000,000
J
& J July ’07 cp not pd w h d u e! July 1 1930
5 g
iJuly 1 1930
2,000.000 Up to 5 % when earned
M & N First N at Bank, N Y
(Nov l 2002
70,067,700
4 g
M & S,
do
do
jSept 1 1913
17,364,100
5 g
Quar
In ’07
Office, 115 B ’ w ay, N Y jOct 1 ’07 1 H
7 4 ,854,100 5
J
J First National Bk, N Y
[July 1 1917
12,500,0u0
6
&
J
do
do
i-Jan 1 1988
61,581.000
J
&
4 g
16,4 34,000
M & N
do
do
!-May 1908-191&
4 g
A & O
do
do
[April 1 1934
66,851,000
4 g
April 1 1908
6.000.000
* * T g A & O .\' Y , Speyer & Co
A & O First N at Bk. iNew York Oct 1 1921
1.905.000
5 g
A & O
do
do
iAprll 1 1934
11.000,000
5 g
J
150,000
do
do
[June 1 1927
& D
7 g
J
J
do
do
July 1 1925
450,000
&
6
5.500.000
5 g
J
& J
do
do & Phila Oct 1 1919
J
do
do
Jan 1 1949
3,525.000
& J
5 g
275.000
do
do & PhllalJuly 1 1919
6 ST J & J
M & N
do
do do |May 1 1952
5,411,000
5 C
F & A
150.000
do
do do iTo Aug 1908
5 g
660,000
do
do do A p ril 1 9 0 8 -1 9 1 0
4H g A & O
.1 fic J .................................................. '.Ian 1 195ft
4 e
See text.
J
& J New York and St Louis Jan 1 1927
3,000,000
5 g
4 % ,T &
J New York
[Jan 1 193?
(?)
6,175,000
F & A . ..........................................
IFeb '08-F eb ’ 17
4H
A & O First Tr & Sav Bk, Chic Oct 1 1924
900,000
5 g
2,773,000
& D Guaranty Trust Co, N YjJune 1 1935
J
5 g
18,559,086 7 In 1907
11,259,911 7 In 1907
334.800
7
125,000
8
1,507,000
6g
6,070,000
6g
641,000
6
F
F
J
J
M
A
J
&
&
&
&
&
&
&
A Office, 111 B ’w ay, N Yi Aug 20
A
do
do
Aug 20
J
do
do
IJan 1
J
do
do
Uuly 1
N
do
do
;May 1
O
do
do
)Aprll 1
J
do
do
!Jan 1
• \
1 ,,
1
1907 3 H
1907 3 )^
1908
1908
1918
1919
1930
The Illinois Tunnel Co. had completed, A u g. 1907, 50 miles of tunne
equipped with narrow-gauge electric motors and cars, designed for the
transfer of freight between the various railroad terminals In the City of Chi
cago. and from these terminals to and from the downtown business district
and between business houses.
It Is still engaged in developing and extend
ing the system .
The authorized stock of the Chicago Subway Co. is $50 ,0 0 0 ,0 0 0 , of which
$5 ,0 0 0 ,0 0 0 remains in the treasury unissued; par value of shares $100.
It
has no indebtedness except as covered by a statement o f the indebtednessof its subsidiary companies.
The Illinois Tunnel Co. owes a $5 ,5 0 0 ,0 0 0 loan, made .Sept. 1906, and se
cured by the pledge of $ 7 ,500,000 Illinois Tunnel 5s, and an additional $ 4 ,000,000 loan, made June 1 1907, secured by $5 ,5 0 0 ,0 0 0 Illinois Tunnel 5 s.
these pledged bonds not being included In the $ 1 ,7 0 0 ,0 0 0 outsfandng as
show n ln table above.
The fiscal year ends Dec. 3 1 .— (V . 84, p. 220, 1366
1427.
CH IC AG O T E R M IN A L TR A N S F E R CO.— P R O P E R T Y consists of
passenger and freight terminals In city of Chicago, lines of railway leading
thereto, and a belt line around the city. Com pany owns 760 acres of land In
and adjacent to the city, of which 50 acres are In the center of the business
district; also Includes 7,500 feet of dock property on Chicago River. Nearly
all land. Including that upon which tracks have been built, Is owned In fee.
Track owned, 84 m .; leases from Chicago Junction R y ., 11 m .; trackage,7 m .;
total, 101 m .; 2nd track, 58 m .; sidings, 117 m .; total all tracks, 277 miles.
H I S T O R Y .— A reorganization In June 1897 of Chicago & Northern Pacific
and Chicago & Calumet Terminal, plan V . 64, p. 8 88, 898.
On April 16 1907 the lower court granted the petition of the Balt. & O hio
for permission to pay off the $15,140,000 first m ortgage bonds which were
called for payment on May 3 1907, the holders to receive the amount found
to be due under the decree with interest from the date of the latter (Feb. 20
1907) to May 3. The foreclosure sale, which had been set for May 3, w as
enjoined to enable the stockholders to test the validity of the B. & O . lease*
but In O ct. 1907 It was expected a settlement would be reached and the
lltlgatlon dismissed. V . 84, p. 930, 867, 1182: V . 85, p. 921.
In Aug. 1907 a conditional offer of $25 per share was made for the minor
ity preferred stock, probably In behalf of the B. & O.
V . 85, p. 405, 863.
In Sept. 1907 plans were being worked out for the joint use of property
by the B. & O. and Chic. Burl. & Quincy. V . 85, p. 722.
Minority stockholders’ committee (Geo. L. Malcolm, Chairman; H . S .
M ott, Secretary).
V . 84, p. 867; V . 85, p. 405.
On May 14 1906 $3,50 0 ,0 0 0 of receiver’s gold certificates were au
thorized to provide for elevation of tracks; none Issued to June4 1907. T h ey
are to be a lien prior to m ort. of 1897 and payable on demand. V .8 2 ,p . 1155 .
T E N A N T S .— Balt. & O hio, Chicago Great W estern, Chicago Junction
Pere Marquette (the last named since Dec. 1903). See V . 7 7 , p. 948
2158: V . 79, p. 9 01. Minimum rentals receivable from tenants am ount
to $513,500 annually. See V . 7 9 , p. 2084.
S E C U R IT I E S .— Stock.— $ 1 3 ,000 ,000 com . and $17,0 0 0 ,0 0 0 4 % noncum . pref.
O f the $16,500 ,000 50-year 1st 4s, $ 1 ,305,000 were reserved
to retire assumed bonds. V . 7 9 , p. 901. See above.
L A T E S T E A R N S .— 12 m o s .J 1 9 0 6 -0 7 -------Gross, $ 1 , 7 1 6 , 4 8 7 ; n e t,6 6 0 ,8 6 2
July 1 to June 30.
\ 1905-06____ Gross, 1 ,7 3 1 ,2 0 0 ; n e t.6 1 5 ,1 6 0
R E P O R T .— Report ror year ending June 30 1906 given In V . 83, p. 816,
phows, gross, $ 1 ,761,832; net, after deducting taxes, $478 ,12 9; interest
$657,800; b a l.. def., $179,671.
Pres, and Gen. M gr., J. N . Faithorn, Chicago, 111.; Sec. and A sst. T r e a s.,
W . T . W lsner 2d. 28 Nassau S t ., N . Y .
Directors May 1907, V . 84. p. 1307.
— (V . 84, p. 1182, 1307; V . 85, p. 283, 405, 722, 863, 921.
CH IC AG O & W E S T E R N IN D IA N A R R.— Owns a valuable terminal
system of roads affording entrance Into Chicago to the roads named below .
Its lines extend from Dearborn Station, Polk S t ., Chicago, to D olton, 17 m . „
also to Indiana State line, 10 m ., to Cragln, 16 m ., and to South Chicago, 5
m .; total, 48 m .; total track. Including 2d, 3d, 4th tracks and sidings, 260
m .; also owns over 1,000 acres of real estate, passenger and freight yards,
warehouses, elevators, &c. The Belt R y . of Chicago leases and operates
82 miles of the 260 miles owned by the Ch. & W . I ., Its securities being ali
held by the companies leasing the Chicago & W . I .; see V . 6 0 , p. 1058.
L E A S E S .— This com pany’s road and terminals are leased under perpetual
contracts to the W abash, the Grand Trunk W e s t ., the Chicago & Eastern
Illinois, the Chicago & Erie and the Chicago Indianapolis & Louisville, each
of which five companies owns $ 1 ,000,000 stock. They are also leased t o
the Atchison, the Elgin Joliet & Eastern and Belt R y . Annual rental must
always exceod at least 2 0 % Int. on bonds outstanding. V . 78, p. 819.
D IV I D E N D S .—
V 9 5- ’9 6 - ’ 97. ’9 8 ’ 00 to ’0 6 - 1907.
P e r c e n t . . . .............................. J 7H
6
6
6
6
6 yearly.
6
B O N D S .— The general mortgage bonds are drawn at 105 and Interest In
such annual amounts as will retire the debt by m aturity.
O f the consol. 4s of 1902 (authorized Issue $ 5 0 ,0 0 0 ,0 0 0 ), $12,382,00Chas been sold on account of track elevation and other Improvements, $ 5 ,710.000 additional were used to refund bonds canceled by operation of the
sinking fund, $ 8 ,659,000 are reserved to retire underlying bonds and $ 2;;.249.000 for future additions equal to at least the par value of the bonds Is
sued. V . 7 5 , p. 732, 906; V . 84, p. 1427.
In Jan. 1907 $8,000,000 3-vear 5 % notes were sold, secured by deposit
of $10,000 ,000 consol. 4s. V . 84, p. 220.
A N N U A L R E P O R T — Fiscai year ends Dec. 31.
Report for 1906 wa« In
V . 85, p. 154, showing gross Income, $ 1 ,7 2 1 ,6 4 6 ; Interest, & c., $ 1 ,3 9 4 ,2 3 3 ,
d ivs., $300 ,00 0; oal., sur., $ 2 7 ,4 1 3 .— (V . 85, p. 154, 468.)
C H I H U A H U A * PACIFIC R R .— Completed April 1900 from Chihuahua.
M ex., to Minaca, 125 miles.
Extension from El Carplo Jet. to Tem osachlc.
M ex., 55 miles, was opened O ct. 1905. See Kansas City Mexico & Orient
statem ent and V . 71, p. 181.
Stock Is $2,500 ,0 0 0 ; par of shares. $ 1 0 0 .
Bonds, see table above.— (V . 7 9 , p. 902; V . 84, p. 693.)
C H O C T A W O K L A H O M A & O ULF R R — See Ch'.c. R I. & Pac. R y .
C IM ARR O N & N O R TH W ESTE R N R R .— V . 84, p. 390.
O c t ., if>07.]
RAILWAY STOCKS AND BONDS.
y
S '" -
43
M A P OF T IIE
Cincinnati, Bluffton & Chicago
Railroad Company.
RAILWAY STOCKS AND BONDS.
44
I N T E R E S T OR D I V I D E N D S .
R A IL R O A D S .
F or explanation of column headings, & c ., see notes
on first page of tables.
M iles
Date
o ft
of
RoacL. Bonds.
Chicago St Paul Minn & Omaha— (Concluded)
Sault Ste Marie & Southwestern 1st M assum ed____ c
C S t P M & O mort $30,000 ,000 ($15,000 p m ).C e.c*
do
do
consols Interest reduced____
Chicago Southern— See Southern Indiana.
Chicago Sub— 111 T 1st M $30,000 ,000 g , red 1 0 5 . EC
Chicago Dock M assumed red 105 (V 68, p 333) . .
Notes secured b y 2d M Chic Dock due $333,750 yrly
Chicago Term Tr RR— Ch & Gt W 1st M gold ass’ d__c* j
City of Chicago purchase money mortgage assumed!
Receiver s certs $3,500,000 authorized gold___ _
..
|FChi Term Tr 1st M $15,140 ,000 paidiby B & O 0 c t ’07j
Chicago & Western Indiana— Stock (see t e x t ) _______j
General mortgage gold sink fund subj to call 105 . .c * i
Consolidated mortgage $50,000 ,000 gold _ .IC .c*& r ;
Coll notes, secured by bonds red par____________ ICj
Chicago & W est Michigan— See Pere Marquette RRj
Chicago W isconsin & Minnesota— See W isconsin Cent
Chihuahua & Pacific— 1st M $2,000,000 g old _____ Ma
Choctaw & Memphis— See Chic Rock Isl & Pac R y . I
Choctaw Okla & Gulf RR— See Chic R I & Pac R y.
Cincinnati Bluffton & Chicago— 1st M $1,500,000 g.c*
Cincinnati Dayton & Ironton— See Clncin H am & Day
Cincinnati Find & Ft W — 1st M gold guar end red .N .c*
Cincinnati Hamilton & Dayton— Common stock_____ i
Receiver’s certificates (see text) extended red par.
do
do
do
extended red p a r ..
Second (now first) mortgage g o ld _________________ c*
General mortgage $ 7 ,800,000 g old ____________ Me.c*
Cincinnati D ayton & Chicago first m ortgage.......... ..
Clncin D ay & Ironton 1st M g guar (assumed) .C e.c* !
R efunding mortgage $25,000 ,000 g o ld ___U sm .c*& r
N ew mortgage $50,000 ,000 authorized___________Ce
Gold collateral notes subject to call at 1 0 1 .............Ce
Car trusts gold $54,000 due semi-an beg Oct ’ 0 6 .Ce.c!
Car trusts $92,000 due sem i-annually............................. !
D ayton & Michigan first mortgage guar p & 1 end__cj
Clncin & Ind W estern— -See Chicago Clncin & Loulsv)
a $15,000 ,000 additional pledged under collateral^
50
Size, or ;
Par
Amount
Value. Outstanding
Rate
%
When
Payable.
Where Payable, and by
Whom.
l Xx x v
$1,000
1,000
1,000
$350,000
15.065.000
3,265,000
5
6
3>4
M &
J &
J &
1903
1899
1,000
1886
1 000
17,000,000
665.000
667,500
394.000
650.000
None Dec 07
See text
5 000,000
8,580,667
18.092.000
8 , 000 ,0 0 0
5 g
4 g
4
5 g
5
J
A
J
J
M
M
J
2 ,000,000
5 g
J
&
J Office, 80 Broadw ay,N Y Jan
5 g
M
&
S Title Guar & Tr Co, N Y Sept 1 1933
1906
1897
" ’ i ’ ooo
1,000
100
8 9 -9 2
1,000
1902 1.000 &c
1907 1.000 &c
1 ,0 0 0 !
1,000
1903
1903
142
1906
1906
1887
1892
1892
1891
1904
1905
1905
1905
1904
1881
H%
notes.
600,000
1,150
8,000
511
511
1,000
2,000
3,000
1,000
1,000
1,200
1,000
3,500
1,000 &C 11,557
a2.500
1,000 15,000
1,000
918
1.284
1,000
2,728
1,000!
1,000
100
__ \
-
C IN C IN N A T I F I N D L A Y & FORT W A Y N E R Y .— Owns F in dlay, O ., to
F ort W a y n e , In d ., 80 m .; also connecting link with the Cin. H am . & D .
from Delphos to Mandale, 12 m ., completed O ct. 15 1904. V . 7 7 , p. 88,
694.
Leased to Cincinnati H am ilton & D ayton for 99 years from N o v . 1
1 903 , with privilege of renewal for like periods forever
V 7 8 , p. 286.
Stock , $ 1 ,2 5 0 ,0 0 0 , all owned by the Cin. H am . & D ayton , which guarantees
bonds, principal and Interest. Mortgage is limited by special agreement to
$ 1 ,1 5 0 ,0 0 0 , or about $12,500 per mile.
Bonds are subject to call at 102H
and Interest. V . 7 8 , p. 2 86, 3 4 2 , 7 01, Form of guaranty, V . 7 8 , p. 701.
— (V . 7 9 , p . 2696.)
C IN C IN . F L E M IN G SB URG & SO U TH EA ST ER N R R .— V . 81. p. 507,
C IN , G EO R G ET . & PORTSM OUTH R R .— See Street R ailw ay Section.
C IN C IN N A T I H A M ILT O N & D A Y TO N R Y .— The system Includes:
Proprietary roads—
M iles.
Road owned— (a See this Co.) M iles.
Cincinnati to D ayton, O __________59
Cincinnati Ind. & W estern______a361
D ayton to Ironton, O ____________ 167 Cincinnati & D ayton ____________
13
D ayton to Delphos, O ____________ 95
Columbus Findlay & N o rth e rn ..
18
Trackage __________________________62
Bowling Green R R ___ ___________
19
Roads leased—
Piqua & Troy B ranch____________
8
D ayton & Michigan_____________ a l 4 2 ,
Clncin. Find. & F t. W a y n e _______ a911
H om e A v e . R R ___________________
3
,
------------------I Total of a ll____________________ 1,038
aSee separate statem ents.
H as control of the Pere Marquette R R .; also owns D ayton & Union
Jointly with Clev. Cin. Ch. & S t. L . and jointly with Southern R y . controls
^tn . New Orl. & T e x. Pac. R y . V . 7 5 , p. 978.
N E W C O N T R O L , & c.— In Sept. 1905 the Erie R R . arranged to acquire
control by purchase through J. P . Morgan & Co. of about $ 5 ,000,000 stock,
but the obligations of the C. H . & D . under leases and other contracts, be
ing found unduly heavy, M r. Morgan, In N o v . 1905, relieved the Erie of Its
purchase. V . 8 1 , p. 1609.
On Dec. 4 1905 Judson Harmon of Cincinnati
was appointed receiver of the C. H . & D . and Pere Marquette, the floating
debt of the system being about $ 5 ,0 0 0 ,0 0 0 .
In April 1906 foreclosure suit
was brought under the 4 4 % mortgage of 1905 and steps, It was understood,
were proposed to foreclose 4 4 % notes of 1905. V . 82, p. 803, 1040.
The receiver obtained authority to issue $931,630 receiver’s certificates
to pay the Interest due Jan. 1 1906 on C. H . & D . and Pere Marquette bonds.
Th e certs., sub. to call at par, are a lien on entire properties, respectively,
no m ention being m ade in order as to priority over bonded debt. V . 81,
p . 1847; V . 8 2 , p. 160. The same am ount of certicfiates was Issued to pay
July 1906 coupons. V . 8 3 , p. 3 6 , 9 69, 1033, 1551. The Jan. 1907 coupons
were paid from earnings. V 84, p. 101.
The stockholders voted Oct. 8 1907 to cancel the lease of the Pere
M arquette, reorganization of which was pending, and to settle all questions
between the two roads by arbitration. V . 85, p. 653.
Committee for Refunding 4s of 1904.— A com m ittee, James N . W allace,
Chairman; Fred. C. R andall, Secretary (Central Trust C o ., depositary),
requested deposits. V . 8 1 , p. 1664.
Committee for Collateral 4 4 % Notes.— James N . W allace, Chairman. V .
8 1 , p . 1664, 1723; V . 8 2 , p. 5 0 9 , 5 68, 803.
Toledo Terminal & Railway bonds, see that com pany.
S T O C K .— In 1904 most of the $ 6 ,9 2 5 ,5 0 0 5 % pref. and all of the $ 1 ,0 7 4 ,500 4 % pref. stock was purchased by the com pany at $110 and $100 per
share, respectively. V . 7 9 , p. 7 33, 7 8 6 , 9 0 2 , 1461. See notes of 1905 below.
D IV I D E N D S since consolidation
N ovem ber, 1895, to A u g ., 1905.
Preferred, Issued In 1895_________________________ 5 % yearly.
On com m on, 2 % paid D ec. 24 1903; none since
B O N D S . & c.— The stockholders on Jan. 12 1905 authorized a new m ort.
to secure $ 5 0 ,000 ,000 of 4 4 % bonds, of which $25,0 0 0 ,0 0 0 to be reserved
to retire at or before m aturity a like am ount o f existing bonds shown In
table (none of which except the D ayton & Michigan bonds, can be ex
tend ed). V . 79. p. 2696: V . 8 0 . p. 162
The $15,0 0 0 ,0 0 0 gold collateral notes of 1905 are secured by an equal
am ount of consol. 4 4 s , the greater part ($7,750,000) of the preferred 4 %
and 5 % stock of the C. H . & D ., $375,000 bonds of constituent companies,
and 7,501 shares of Southwestern Construction Co. stock, representing Joint
ownership with Southern R y. of control of the Cincinnati New Orleans &
Texas Pacific R y. Proceeds used to fund obligations incurred chiefly to re
tire preferred stock and pay In part for control of the Pere Marquette R R .
V . 8 0 , p. 1058.
In June 1907 offers of 70 flat were. It Is reported, m ade to
the bondholders. V . 84 . p 1366.
The refunding 4s of 1904 cover all the road directly owned, the leases of
the D ayton & Michigan and Findlay Fort W ayn e & W estern, and are fur
ther secured by deposit of $ 1 1 ,0 0 0 ,0 0 0 Pere Marquette common stock and
$ 7 ,1 1 5 ,8 0 0 (entire stock Issue) of Cincinnati Indianapolis & W estern R R .
O f the bonds, $9 ,9 7 7 ,0 0 0 were sold to provide for purchase of Pere Marquette
stock and Improvements. V . 7 9 , p . 212; V . 80. p . 162; V . 8 1 , p. 154.
G U A R A N T I E S .— Guarantees securities o f Cin. Ind. & W e s t ., D ayton &
Mich, and Cin. Find. & F t. W ayn e; also $933 ,00 0 Ind. Dec. & W est 5s and
$ 6 ,0 0 0 ,0 0 0 Pere M arquette refund. 4s.
4
6
6
4
5
g
g
g
g
o
4 e
See text.
6
6
4*2 g
5 g
4
5 g
4 g
4H g
4M g
4H g
4>4 g
5
.
Bonds— Princi
pal, When D ue
Stocks— Last
Dividend.
1890
1880
1880
CIN C IN N A T I B LUFFTON & CHICAG O R R .— (See M a p .) — Projected
from Huntington to Union C ity, In d ., 7 0 m ., of which Bluttton to Portland,
29 m ., completed; remainder to be in fall of 1 9 0 7 . V . 8 4 , p. 1 1 8 2 .
Stock, $ 1 ,1 2 5 ,0 0 0 , all of one class, issuable at $ 1 5 ,0 0 0 per mile;
par of shares, $ 1 0 0 each.
Bonds, see table above. V . 8 4 , p. 4 4 9 , 5 0 9 .
For 4 m os. ending A p r. 3 0 1 9 0 7 , gross, $ 2 0 ,3 5 1 ; net, $ 1 3 ,0 4 5 ; int. and taxes,
$ 1 0 ,7 6 7 ; bal., sur., $ 2 ,2 7 8 .
V . 8 4 , p. 1 1 8 2 .
For 8 m os. ending A u g. 31
1 9 0 7 surplus over charges was $ 6 ,9 9 9 .
For year ending Dec. 31 1 9 0 6 ,
gross, $ 3 0 ,6 3 7 ; net, $ 7 ,4 6 3 : other incom e, $ 3 ,7 4 8 ; interest and taxes, $ 1 2 ,9 5 8 ; b a l., d e f., $ 1 ,7 4 7 .
Pres., S. H . Bracey; S e c., Charles Blackburn;
T rea s., John Fralse. Office. 6 1 6 Tribune Building, Chicago, 111.— (V . 8 2 ,
p . 1 2 1 1 ; V . 8 4 , p. 4 4 9 , 5 0 9 , 1 1 8 2 ; V . 8 5 , p. 9 2 1 .)
[V ol.
N Office 111 B ’w ay, N . Y . N ov 1 1915
D
do ,
do
June 1 1930
June 1 1930
D
do
do
& D 'First N at B k, N Y ; & Chic
& O Northern Tr Co, Chicago
& J ____________________________
& D Mercantile Trust, N Y
& N To City of Chicago
& N .............. ................................
& J See text
Q— J
Chicago
Q-*-M
J P Morgan & Co, N Y
J &
J ill Tr & S Bk. Chic: & N Y
F & A 111 Tr & Sav B k , Chicago
Dec
1 1928
1 Q ?Q
July 1 1908 -'0#
June 1 1936
May 1 1938
See text
See te x t.
Oct
1 07 XH
Dec 1 1932
July 1 1952
Feb 1 1910
1 1955
& N Trust Co of Am er, N Y N ov 1 1923
Dec 24 1903 2 %
Cincinnati
Text
July 1 1908
July 1 1908
J & J J P Morgan & Co. N Y Jan 1 1937
June 1 1942
J & D!
do
do
April 1 1942
A & O
do
do
M ay 1 1941
M & N
do
do
July 1 1954
J & J
do
do
J & J Jan 06 coupon not paid Jan 1 1955
M & S March ’06 coupon not pd Sept 1 1908
A & O J P Morgan & Co, N Y T o April 1 1916
A & O R W lnthrop & Co, N Y Apr 08-O ct ’ 14
!Jan 1 1911
J & J J P Morgan & Co, N Y
M
R E P O R T .— Report for year ending June 30 1907 In V . 85, p . 1003.
1904-05.
Year ending June 30—
1906-07.
1905-06.
1,038
Miles op erated_________________________
1,038
1,038
$8,106,147
$8,519,153
Gross earnings__________________________$9,04 8 ,8 5 8
1,785,120
Net in c o m e____________________________
1,987,275
1,607,718
1 ,524,744
2,249,434
Deduct Interest on bonds____________ 2,220.615
29,792
261,345
117,247
Interest on bills payable____________
9 6,900
Div. pref. stock D . & M. R R _______ 1
8 3,892
D iv. com . stock D. & M. R R _______ |
5 ,0 0 0
Div. com . stock H om e A v e. R R ____ )
388,669-1
156,095
D iv . com . stock C. I .& W . R R ____ 1
I
129,920
Other rentals--------------------------------------- J
..................
122,554
D iv. pref. stock C . H . & D . R y _______
T o ta l....................................... ..................... $ 2,84 8 ,6 3 0
$ 2 ,7 5 5 ,3 4 9
$2148,897
$ 8 6 1 ,35 4 d f$ l ,147,631
d $ 363,779
Surplus_______________ ______ ____________
O F F IC E R S .— P res., F . D . Underwood; T r eas., J. E . Howard; Sec.
Th os. J. W alsh ; A sst. T reas., D . W . Blgoney; A sst. S e c., D avid Bosm an.
Directors— Geo. W . Perkins, F . D . Underwood, Charles Steele, G eo. F .
Baker, Geo. W . Y ou n g, N . B . R eam and H . F . Shoemaker, New Y o rk;
Chas. A . Otis J r., J. H . Clarke and R . R . R hodes, Cleveland, Ohio; N .
Monsarrat, Columbus, Ohio; W . L . Dechant, Middletown, O hio.— (V . 84,
p . 101, 507, 693, 1366, 1551; V . 8 5 , p. 653. 9 21, 1003.
C IN C IN N A T I IN D IA N A P O L IS & W E S T E R N R R .— H am ilton, O ., to
Springfield, 111., 296 m .; Sldell, 111., to W est Liberty, 78 m .; trackage. W est
Liberty to Olney, 8 m . A consolidation Sept. 1902; V . 7 5 , p. 239. 289, 4 9 7 ,
732. Stock authorized $ 8 ,2 0 0 ,0 0 0 ; Issued, $ 7 ,1 1 5 ,8 0 0 : all owned by C. H .
& D ., which received dividends thereon In 1 9 02 -03 , $ 1 26 ,79 8; In 1903 -04 ,
$1 67 ,32 2; In 1904 -05 , $ 1 56 ,09 5.
B O N D S .— The “ first and refunding" 4s of 1902 ($8,200,000 authorized
Issue) are guaranteed, principal and Interest, by C. H . & D . by endorse
m ent on each; $4,72 2 ,0 0 0 were Issued In exchange for existing bonds, of
which $50,000 In the Cin. H am . & Dayton treasury; $ 3 ,478,000 are reserved
to retire Ind. Dec. & W e s t. 5s. V . 7 5 , p . 1201, 1353; V . 7 7 , p. 1290; form
of guaranty, V . 7 8 , p . 2011
The I. D . & W . bonds are redeemable by lot at 110 at any time on eight
weeks’ notice; $933,000 are guaranteed by Cin. H am . & D ayton. Car
trusts June 1906, $140,000 4 % equipment lo t e s , due yearly to N o v . 1
1911, Inclusive, Interest M. & N
E A R N I N G S .— Year ending June 30 1905, g* ss, $2,2 7 2 ,3 1 2 ; net, $ 5 6 7 .181; charges, $ 4 1 1 ,0 8 6 .— (V . 7 9 . p. 2696.
C IN C IN N A T I IN T E R -T E R M IN A L R R .— Own, a road 6 m iles In length
connecting the Ches. & Ohio bridge and the Cin. H am . A'l-'ayton terminals.
Controlled by Ches. & Ohio R y. Com stock, $10,0 0 0 , In $100 shares. Issued
for purpose of control.
There will be Issued $1,00 0 ,0 0 0 of 1 st preferred 4 %
cumulative stock, secured by mortgage to the Union Savings Bank & Trust
Co. of Cincinnati, as trustee, and rentals paid by Ches. & Ohio and Louis
ville and Nashville, and subject to call on any Interest day after Feb. 1 1P15
at 105. V . 79, p. 212; V . 80, p. 1728, 2398, 2620.
Rentals received to
June 30 1907, $48,000 ; dividends paid, $ 38,390 ; b a l., sur., $ 9 ,6 1 0 . Pres.,
Geo. W . Stevens.— (V . 80, p. 2620.)
"C IN C IN N A T I LEBANON & NORTH ERN R Y .— Owns Cincinnati. O ., to
£)odds, 38 miles. Including 6 miles from Lebanon to D odds, leased to th
D ayton L eb. & Cin. R R .; Middletown Jet. to Middletown, O ., 14 miles
(former Mid. & Cin. R R ., taken over Jan. 1 1903); total, 52 miles. Stock
authorized, $ 1 ,500,000; outstanding, $ 1 , 1 0 0 , 0 0 0 , mostly owned by Penn. Co.
V . 7 5 , p. 980.
Dividend of 3 % paid in 1 9 0 6 . O f the $1 ,5 0 0 ,0 0 0 first con
sol. 4s of 1902, guaranteed prin. and Int. by the Pennsylvania Com pany,
$ 200 ,00 0 are reserved to retire the 5s due 1916. V . 7 7 , p. 86. Cal. year
1906, gross, $ 3 20 ,60 5; net, $ 81,701 ; other income, $32,765 , int. on bonds
$61,6 4 0 ; additions and Im pts., $8,4 0 9 ; dividend ( 3 % ) $ 33,000 ; b a l., su r.,
$ 1 1 ,4 1 7 .— (V . 7 7 , p. 86.)
C IN C IN N AT I & M U SK IN G U M V A L L E Y R R .— (See M a p s of Pennsyl
vania R R .) — Owns Morrow, O ., to Trinway, O ., 148 miles; half Interest
Zanesville Terminal R R ., 5 miles. V . 7 7 , p. 86.
Successor A u g. 1 1898 to Cincinnati & Muskingum V a l. R y ., foreclosed.
V . 67, p. 27.
Of the bonds $250,000 are reserved for future needs; sinking
fund retires yearly 1 % of those outstanding. If offered at par or less. Th e
Pennsylvania Company guarantees the bonds, principal and Interest. See
form of guaranty, V . 7 6 , p. 653. Stock, $ 2 ,0 0 0 ,0 0 0 , all owned Jan. 1 1907
by the Pitts. CIn. Chic. & S t. L . R y .
Dividends: 1900. 6 % ; 1901 to 1906
lncl., 2 % yearly.
Penn. R R . owns $ 1 ,318,000 of the $1,75 0 ,0 0 0 bonds.
Car trusts, $112,000 3 H s , payable $22,400 yearly to June 1912.
Report for 1905 was In V . 8 2 , p. 1494.
Y r. end. D ec. 31.
Gross.
Net inc.
Interest. Dividends. Balance.
1 9 0 6 ............. .................$845,396
$194,376 $69,500
( 2 % ) $40,000 $ 84,875
1905
............ 794,094
179,753
64.000
(2 % ) 40,000
75.752
Paym ents In addition to above In 1906 were $50,719 for additions. Im
provem ents, & c ., (against $17,415 In 1905 ), and $16,335 on account of
Interest. — (V .8 1 , p. 270; V 8 2 , p. 1494.)
C IN C IN N A T I N E W O R L E A N S & T E X A S PACIFIC R Y .— (See M a p of
Southern R y .) — Operates Cincinnati Southern R y ., owned by city of Cin
cinnati. Cincinnati to Chattanooga T en n ., 336 m .: trackaee. 2 m .
In
Jan. 1903 the entire stock of the Harrlman & Northeastern R y ., 22 miles,
was acquired, but road Is operated separately. V . 77, p. 1743
In 1001 lease was extended 60 years to O ct. 12 1966: rental until O ct. 12
1906 was modified beginning July 12 1902 to $1,050,000 yearly, the remain
ing $50,000 per quarter to be deferred as It accrues and to be paid quarterly
at rate of *40,000 yearly, with Interest on deferred payments at 3 % ; rental
under renewal 10 be $1 ,0 5 0 ,0 0 0 yearly for first 20 years, then $ 1 ,1 0 0 ,0 0 0 for
20 years, thereafter $ 1 ,2 0 0 ,0 0 0 . V . 7 3 , p. 722; V . 74, p. 1251.
Pref .sto c k
6 % cu m ., with no voting power, but prior rights on dissolution. V . 7 4 ,
p. 528, 829.
•
D I V I D E N D .— On pref., 1 4 % , paid quarterly Sept. 1 1902 to Sept 1 907 .
both Inclusive. On com m on. 2 % paid Dec. 1 1903 out of accumulated
earnings to June 1903; Sept. 1 1904. 2 % ; June 1905. 3 % : D ec.. 2 % ; June.
1906, 3 % ; D e c ., 2 4 % ; 1907, June, 2 , 4 % .
On April 1 1906 $ 1 ,5 0 0 ,0 0 0 5 %
notes were Issued to pay for second main track and other im provem ents,
payable $150 ,00 0 semi-annually to April 1911, inclusive. V . 8 3 . p. 1225.
O ct ., 1907. J
RAILWAY STOCKS AND BONDS.
45
t . — --------------- ———-----------------------------------------------------------------R A IL R O A D S .
Tor explanation of column headings, &.C., see notes
on first page of tables.
I N T E R E S T OR D I V I D E N D S .
Date
M iles
of
of
Road. Bonds.
Cincin Ind & W est— Ind Dec &Jnot g u a ra n te e d ...C e \ 262 j 1890
11895
W 1st M gold red at 110 ..\ g u a r p & i (en d )-------c ]
381 1903
O I & W 1st & ref M $ 8 ,200,000 g gu p & 1 e n d ..T a
Cincinnati Inter-Terminal RR— 1st pfd Stock (seetext) Text.
38 1886
Cincinnati Lebanon & Northern— First m ortgage------ c
52 1902
1st con M $ 1 ,500,000 g gu p & 1 end (V 75 p 1398) ,c *
148 1898
Cin & Musk Val— 1st M $ 2 ,000,000 g gu p & 1 en d .F .c *
___
____
Cincin N O & Tex Pac Jet— Com stock $ 3 ,0 0 0 ,0 0 0 ..
___
.
Preferred stock 5 % cumulative $ 3 ,0 0 0 ,0 0 0 ..................
1904
...
Equip, trusts due ab t. $85,000 s .-a . (V . 7 8 , p. 1391)
1905
do
do
due $6,585 m onthly
1906
do
do Ser B due $97,000 seml-ann. ( V .8 2 ,p .928
1901
Cincinnati Northern— 1st M $3,000,000 g O ld ..G .C *& r
86 1871
Cincinnati Richmond & Ft W — 1st M gold Int gu ar_.c»
Clearfield & Mahoning— Stock 6 % rental------------- . .
26 1893
First mortgage gold guaranteed B R & P ____ G.c*& r
_ _
Cleveland Akron & Columbus— Stock $ 4 ,0 0 0 ,0 0 0 ------177 1887
General mortgage (now first) g old.....................................
First consol M $ 4 ,0 0 0 ,0 0 0 (guaranteed p & i e n d . . . 1188 f 1900
gold sinking fu n d .......... \ not guaranteed................ /
1 1900
Cleveland Cincinnati Chicago & St Louis—
___
Common stock ($50,000,000 authorized)____________
Preferred stock 5 % non-cum ulative................................
175 1880
C I St L & C con M drawn at 105 sinking fund 1 % .c *
1886
Gen 1st M $ 1 0 ,000 ,000 gold s f not draw n.C e.c& r
391 1874
Cleve Col Cincin & Ind consol mortgage (see text)
391 1884
Gen consol mortgage ($12,000,000) g o ld .U s .c * & r
72 1869
Indian & St L 1st M in 3 series of $ 6 6 7 ,0 0 0 .. Us.c
72 1882
2d M ($2,000,000) gold Indianap to Terre H .c *
62 1890
Cl Cln Chic & St L W hite W a t V al D iv 1st g -.C e .c *
45 1890
Spr & Col D iv (Col Sp & Cln) 1st M g old ____ Ce.c*
267 1890
Cairo Division 1st M $ 5 ,000,000 g old _______Ce.c*
194 1890
St L D lv collat tr gold ($351,000 In s f ) ___Ce.c&r
203 1891
Cincin W a b & Mien D lv first mort. g o ld ------ U».c*
Gen M 100 years for $ 5 0 ,000 ,000 g o ld .M e .c ’ &r 1,021 1893
___ 1907
N otes $5 ,0 0 0 ,0 0 0 gold c & r ----------- --------------------------Obligations for Proprietary Lines.
Cincinnati Sandusky & Cleveland— Preferred stock
170 1888
Consolidated (now first) M ($3,000,000) eold.A B .c
Size, or
Amount
Par
Value. Outstanding
$1,000
1,000
1,000
100
1,000
1,000
1,000
100
100
1,000
1,000
1,000
1,000
50
1,000
100
500 &c
1,000
1,000
100
100
1,000
1,000 &c
1,000
1,000
1,000
1,000
1,000
500 &c
1,000
1 ,0 0 0
50
1,000
S T O C K .— Com mon, $ 3 ,0 0 0 ,0 0 0 , controlled In Interest of Southern R y
and Cincinnati Hamilton & Dayton R y . V . 61, p. 26; V . 6 5 , p . 1173.
L A T E S T E A R N IN G S .- ■\ 1907 .......... Gross, $ 1 ,5 3 6 ,0 0 5 ; n e t, $232,717
J 1906 _____ Gross,
1 ,4 3 9 ,6 6 0 ; n e t, 283,590
2 m o s ., July 1 to Aug 31.
A N N U A L R E P O R T .— Report for year ending June 30 1906 was In V . 83•
p . 1225.
In 1906-07, gross, $8,7 7 8 ,8 4 7 ; net, $ 1 ,7 4 7 ,4 1 1 .
In 1905-06*
gross, $ 8 ,4 5 4 ,8 9 7 ; net, $ 2 ,0 6 2 ,2 2 5 ; other income, $44,498 ; rentals, $ 1 ,2 0 7 ,'
0 00; Interest, $71,133 ; im pts., $440 ,82 6; div. on pref. ( 5 % ) , $100 ,00 0; d l v
on com . (5 % ) , $150 ,00 0; Dal., su r., $ 1 3 7 ,7 6 5 .— (V . 84, p. 51.)
C IN C IN N A T I NORTH ERN R R .— (See M a p Cleveland Cln. Chicago & St.
Lou is.) — Owns Franklin, O ., to Jackson, M ich.. 208 miles; trackage (C. C.
C . & S t. L . ) , Franklin to Cincinnati, 38 miles; at Jackson 1 mile.
Successor In June 1897 of Cincinnati Jackson & Mackinaw, foreclosed.
V . 6 5 , p. 621; V . 72, p. 338, 1034, 1135; V . 7 3 , p. S I. The holdings of Clev.
Cln. Chic. & St. L. are valued In-balance sheet of Dec 31 1904 at $ 1 ,1 0 5 ,3 8 7 .
V . 7 5 , p. 4 54, 457.
S T O C K , $ 3 ,0 0 0 ,0 0 0 .
For 8 m os. ending A u g 31 1906,
gross, $65 9 ,2 8 1 , against $679,160 in 1906.
In year ending Dec. 31 1906,
gross, $ 1 ,0 2 7 ,7 2 8 ; net in c., $ 2 28 ,58 8; charges, $ 9 5,892 ; b a l., su r., $ 132 ,696.
P res., M . E . Ingalls.— (V . 8 1 , p. 1314.)
C IN C IN N A T I RICH M ON D & FORT W A Y N E R R .— Owns from R ich
m ond, Ind. to A d am s. In d ., 86 m .; leases 5 m . of P. F t. W . & C. Now op
erated (Sept 1907) by Grand Rapids & Indiana R y . R ental, net earnings.
In t. is guaranteed by the Pennsylvania Co. and Pitts. Cin. Chic. & St. L . Co.
Jointly (the P . C. C. & St. L . taking the place of the Cln. H am . & Dayton In
1 888 ).
Stock, $ 1 ,709,313 (par $ 5 0 ), of which Penn. Co. Apr. 1907 owned
$ 1 ,2 5 7 ,9 0 0 .
Due guarantors Aug 1 1907, $ 1 ,5 7 3 ,2 3 9 .
Year ending Dec. 3 l .
Gross.
N et.
Interest, A c.
Balance.
1 90 6
. . . ..............$657,897
$127,258
$140,184
def. $12,926
1 9 0 5 ........
629,525
114,451
126,000
def. 11,549
C L E A R F IE L D & M AH O N IN G R Y .— (See M a p B u f. Roch. & P itts.)—
Owns road, completed In 1893, from Du Bols J et., P a ., on Buf. R . & P ., to
Clearfield on Beech Creek R R ., 26 miles. Leased during corporate existence
and renewals thereof to Buffalo Rochester & Pittsburgh— which see— at a
rental payable In gold and equal to 6 % on $750 ,00 0 stock, par $50, and 5 %
on bonds, the latter being guaranteed, principal and Interest, by indorse
m ent on each.— (V . 61, p. 710.)
C L E V E L A N D AK R ON & C O L U M B U S R A I L W A Y — (See M a p s of
Pennsylvania RR.J— Owns from Hudson, O ., to Colum bus, O .. 144 miles;
Dresden branch, Kllbuck to Trinway, 33 m .: Apple Creek branch, 9 m .;
Howard coal branch, 4 m .; coal spurs, 4 m .; total owned, 194 miles; track
age, Trinway to Zanesville, 17 m .
Owns a fourth interest in Akron & Bar
berton Belt R H .,2 4 m .
V . 7 6 , p. 4 35. In 1905 issued $750 ,00 0 car trusts,
due $75,000 yearly.
Penn. Co. took control June 1 1899, purchasing $ 2 ,237,500 of the $4,000 000 stock (par $100).
Dividends, 2 % yearly, Sept. 1901 to Sept. 1905;
1906, 3 % (M .-S .); 1907, M ch ., 1 ) 4 % ; S e p ., 2 % . O f 1st cons.gold 4s of 1900
(C om m ’ l Trust Co. of Phlia., trustee), $ 1 ,023.000 are guaranteed, principal
and Interest, bv the Penn. Company. $1,800,000 are reserved to retire
the general 5s due 1927; V . 7 1 , p. 390; V . 76, p 653; V . 7 7 . p . 1746. 2280.
R eportfor 1906, in V . 85, ip . 2 15, showed, gross, $ 2 ,046,567; net, $476,491;
other income, $ 6,396; Interest on bonds, $158 ,31 0; dividend, $120,000 (3 % );
rentals, $30,586; b al., sur., $17 3 ,9 9 2 .— (V . 85, p. 215, 722.)
C L E V E L A N D C IN C IN N A T I CHICAG O & ST. LO U IS R Y .— (See M a p s
N . Y . Central & H . R. R R .). R O A D .— Radiates from Indianapolis, In d .,
westerly to Chicago, Peoria, Cairo, 111., S t. Louis, easterly to Sandusky,
Cleveland Columbus and Cincinnati, O. and southerly to Louisville.
H I S T O R Y , &c.— A consolidation of the Cincinnati Indianapolis S t. Louis
<*• Chicago Railway C o ., the Cleveland Columbus Cincinnati & Indianapolis
Railway Co. and the Indianapolis & S t. Louis Railway C o., made in July
18$''*. per plan in V. 4 8 , p. 427. O f the com . stock, $ 2 3 ,148 ,100 was on Jan. 1
1907 r.wned by the L. S. & Mich. So. R y ., this am ount, together with the
private holdings In both stocks by the Vanderbilt fam ily, being, it is under
stood, a majority of the entire share capital. V . 72, p. 86; V 82, p. 749.
The company Is also one-fourth owner of Peoria & Pekin Union R y.
(through ♦tie Peo. & East. R y .) , one-fourteenth owner In Terminal R R .
Ass - \-t' ' ' 1 Louis, and two-flfths owner of Indianap. Union R y ., and
art own r o< Cent Tndiana R y ., Cent. Union Depot & R y . of Cincinnati,
Union I)ef>c oi Coiin •;u3. D ayton Union R y ., Dayton & Union R R ., Muncle Helt R y runt Findlay Beit R y ., which are operated independently.
C L E V E L A N D C IN C IN N AT I CHICAG O & ST. LO U IS R Y . (Concl.)'
M iles.
Owned directly—
" ties.
Leased and controlled—
Cleveland, O ., to Columbus, ^ - . 1 3 8 Cincinnati & Springfield R y .—
44
Gallon, O ., to Indianapolis_______ 203 Colum.Hope&Greensb’g R R . . . 26
Jointly operated—
Delaware to Springfield___________ 50
Cincinnati to Lafayette___________ 175 Chic. Ind. & St. L. Short Line . . 44
Indianapolis to Terre H aute______72
Trackage Into Cincinnati, & c .. 32
into
Jeffersonville. 53
Harrison Branch..............................7 Trackage
Trackage Into Toledo (V . 7 9 , p.
Leased— entire stock owned—
1 0 2 3 ,2 6 9 6 )....................................... ....48
Cln. Lafayette & Chic. R y .............57
Cairo Vincennes & Chic. R y —
Cairo 111., to Tilton & bra n ch .267
Total Included In earnings.1,983
S t. L. D lv. T . H . to E. S t. L .. 1 9 3
Operated: earns, kept separate—
Peoria & Eastern R y ____________ *351
Columbus Springfield & Cln.—
Columbus, O .. to Springfield._ 45 Cincinnati & Northern__________*248
W h ite W ater— Harrison, In d ., to
Kankakee & Seneca R R . . ........... 42
Hagerstown, I n d . .........................62
M t. Gilead Short Line___________
2
Cln. w abash & Michigan R y .—
Loulsv. & Jeffersonv. Bridge . .
*3
Benton Harbor to Rushville &
Branch------------------------------------- 249
Total of system Dec. 31 ’0 6 ..2 ,6 2 8
Other lines -------------------------------------44
Trackage 111. Cent, into Chic.l
Cincinnati Sandusky & Cleve.R y.—
On percentage basis__________J
Operates independently—
Sandusky, O ., to D a y ’n ,0 . ,& c . l 7 0
• See this company
D ayton & U n. R R . (• )__________
47
! Double track____________________ 218
In Jan. 1907 a new double-track line from Evanjsville to M t. Carmel,
Ind . 30 miles, was under construction. V . 83, p. 817, 1098.
&C
1,000
1,000
1,000 &c
Rate
%
When [ Where Payable, and by
Payable.
Whom
Bonds— P rinci
pal. When D ue.
Stocks— Last
Dividend.
J
& JiCentral Trust C o ., N Y
$2,229,000
5 g
Jl
do
do
933,000
J
&
5 g
J|J P Morgan & C o ., N Y
4,672,000
J
&
4 g
4
F & A [Cincinnati
650,000
5
J
&
J Cent Tr & S D Co, Cincin
200,000
1,291,000
M & Ni
do
do
4 g
F & A !Farmers L & Tr Co, N Y
1,750,000
4 g
3,000,000 See text.
Text
jCincinnati
do
2 .000,000 5 In 1906 Q— M
4
M & S Blair & Co, New York
595,000
32,925
1,649,000
4 X g M & Nl Equitable Trust C o .,N Y
4
Jl Guaranty Trust Co, N Y
1,000,000
J
&
1,800,000
J
& D jW inslow , L & Co, N Y
7 g
6
J iChecks mailed
J
&
750,000
J
&
J]36 W a ll Street, New York
650,000
5 g
4 ,000,000 See t e x t . M & S IChecks mailed
M & S W inslow , Lan & Co, N Y
1,800,000
5 g
F & A Ham ilton Trust, B klyn
1,023,000
4 g
F & Al
do
do
672,000
4 g
Jan 1 1935
Jan 1 1935
Jan 1 1953
A u g 1 1907 2 y .
Jan 1 1916
N ov 1 1942
A u g 1 1948
.Tune24 1907 2 16
Sept 2 1907 1H.
M a r ’08-M ar '11
To Mch 1 1908
M a y ’0 8 -M a y ’ l * 1
July 1 1951
June 1 1921
July 1 1907
Jan 1 1943
Sept 25 ’07 2 % p
Mar 1 1927
Aug 1 1940
Aug 1 1940'
4 7 ,056,300 4 In 1907IM & S J P Morgan & Co, N Y
do
do
10,000,000 5 in 1907
Q— J
6
M & N
do
do
644,000
Q— F I
do
do
7,466,000
4 g
do
do
4,138,000 7 or 6 g.J
& D
J
&
JI
do
do
3,205,000
6 g
7
Various S
do
do
2 ,000,000
M & NL
do
do
500,000
6 g
jf
do
do
J
&
650,000
4 g
1,103,730
M & S
do
do
4 g
J
do
do
5,000,000
J
&
4 g
10,000,000
M & N|
do
do
4 g
J
do
do
4,000,000
4 g
J
&
22,903,000
do
do
J
& DI
4 g
J
& D ;------------------------------------------5 ,000,000
5 g
Sept 3 1907 2 %
O ct 21 ’07 1 H
M ay 1 1920
Aug 1 1936
June 1 1914
Jan 1 1934
July 1 1919
N ov 1 1912
July 1 1940
Sept 1 1940“
Jan 1 1939'
(Nov 1 1990'
July 1 1991
&une 1 1993;
June 1 1911
428,997
2.571,000
6
5 e
M
J
&
&
N
Ji
do
do
N ov 1 1907 3 %
Jan 1 1928
do
do
C A P IT A L S T O C K .— The stockholders voted June 21 1905 to increase
the common stock from $28,7 0 0 ,0 0 0 to $40,0 0 0 ,0 0 0 (V . 80, p. 1423. 1911 ,
2343, 2399; V . 81, p. 264; V .8 3 , p .7 5 1 ), and on O ct. 31 1906 to $50 ,0 0 0 ,0 0 0 ;
the $ 4 ,806,580 subscribed for by srtockholders at 90 in 1907 carries all divi
dends accruing after March 1 1907; $ 2 ,249,720 additional was sold to Sept.
1907. V . 83, p. 687, 1290; V . 84, p. 1247.
D I V S .—
) ’ 93. ’94. ’95. ’96. ’ 97. ’98. ’99. ’ 0 0 . '0 1 . ’02 t o ’06. 1 9 0 7 .
C o m m o n --)
3
0
0
0
0
0
0
3
3J4
4 yrly .
4
P r eferred -j
5 5 5 5 2 3 ^ 5 5
5
5
5 yrly .
5
B O N D S .— The sinking fund provision of the Cleveland Columbus Cincin
nati & Indianapolis consol, bonds (stamped) has been canceled. The prin
cipal of these bonds is payable in gold, but the Interest is payable at option
of holder, either In lawful money at 7 % per annum or in British sterling at
6% .
O f the Indianapolis & St Louis 1st 7s, series “ A ” are J .& J .; series
B . ” M .& S .; series " C , ” M .& N .
St. Louis Division bonds, see deed of trust, V . 5 2 , p. 42-45.
The 100-year mortgage of 1893 is limited to $ 5 0 ,0 0 0 ,0 0 0 . In July 1907
$22,349 ,000 Gen. 4s were reserved for prior liens (exclusive of Cairo division,
Peoria division, Michigan division and the St. Louis division west of Terre
H aute), and $ 4 ,748,000 for equlpm ’t, constr’n and betterments, & c., $ 1 ,000,000 yearly. See V . 7 8 , p. 1446; V . 7 9 , p. 733; V . 8 3 , p. 379.
Guar
antees Chicago Indianapolis & S t. Louis Short Line R y ., Central Indiana
R y . and Springfield Union Depot Co. bonds. V . 7 7 , p . 5 10, 5 17, 7 6 9 ,
1363, 2280; V . 7 8 , p. 1906, 1961; V . 7 9 , p. 2589.
G E N E R A L F I N A N C E S .— Guarantees interest on Louisville & Jefferson
ville Bridge bonds Jointly with the Ches. & O . V . 68, p. 822.
On June 30
1904 owned stock in Chesapeake & Ohio representing an outlay of $ 2 ,4 5 3 ,569, Cincinnati & Northern R R . securities costing $1,105,387 and an Interest
In the Central Indiana R y. costing $ 4 30 ,02 7. V . 7 1 , p. 398-; V . 75, p. 455;
V . 77, p. 517; V . 79, p. 912. Capital stock per m ile of road owned Deo. 31
1906, $ 2 7,700 ; bonded debt, $35,242 .
In 1905 $ 1 1 ,300 ,000 stock was sold and In 1907 $ 7 ,056,300 (of which
$4,80 6 ,5 8 0 subscribed by stockholders at 9 0 ). See ST O C K above. In
M ay 1907 $5,00 0 ,0 0 0 4-year 5 % notes were sold. V . 84, p. 1247.
E A R N I N G S .— For 8 m onths ending June 30, gross, $ 1 7 ,2 2 3 ,6 1 8 in 1907 ,
against $ 1 5,871 ,169 In 1906.
For six m onths ending June 30:
6 M o s .—
Gross.
N et.
Oth.Inc. 1 stCh’es& T a x.B a l.forD iv.
1907
$12,439 ,771
$2,72 3 ,0 6 2
$53,788
$2,23 5 ,5 1 9
$541,332
1906
1 1 ,362,519
2,5 1 2 ,4 8 3
7 5,163
2 ,137,911
4 49,734
Dividends on the preferred stock (2)4 %) call for $299,962 during each
6 m os. and on the com . (1 % quar.) for $891,160 In 1907, against $661 ,75 5
in 1906, leaving def. $649,790 in 1907, against def. $511 ,98 3.
R E P O R T .— Fiscal year has been changed to end Dec. 3J. R eport lor
year ending D ec. 31 1906 was in V . 84, p. 927.
1906.
1905.
1904.
1,983
1,983
1,891
Miles operated_________________________
$6,37 9 ,0 5 6
$7 ,4 5 2 ,5 5 8
Passenger earnings____________________ $6,963,864
F r e ig h t ..................- ................................. - . 1 5 ,683,733
1 4 ,291,108
13 ,0 1 5 ,5 0 7
M all, express, & c.........................................
1,947,319
1,8 4 7 ,5 9 9
1 ,6 7 3 ,0 4 5
Total earnings..................................... ..$ 2 4 ,5 9 4 ,9 1 6 $ 2 2,517 ,763 $22,1 4 1 ,1 1 0
Operating e x p e n s e s ................................. 18,432,713
16,879,345
16.131.11S
N et ea rn in g s________________ _______ $ 6 ,162,202
Total net income____________ _______ . .$ 6 , 3 7 0 , 7 7 1
Interest on bonds, &c__________________
3 ,189,115
T a x e s ___________ ___________ ___________
831,631
285,293
Rentals, &c......................... ..........................
Dividends on preferred, 5 %___________
499,925
Dividends on com m on. 4
................
1 ,511,754
$5,63 7 ,4 1 8
$5,87 9 ,8 9 5
2,9 7 6 ,9 0 6
7 4 2,496
290,068
499,925
1 ,3 2 8 ,9 5 0
$6,00 9 ,9 9 7
$ 6 ,294,214
2 ,9 8 1 ,1 1 2
678,607
255,639
49 9 ,9 2 5
1,1 1 9 ,6 1 2
Balance, snrpitrs____________________
$53,053
$41,550
$759 ,29 9
O F F IC E R S .— Pres., W m . H , N ew m an, New York; Vice-Presidents, J
D . Layng, E . V . W . P.osslter, W . C. Brown and John Carstensen, C. E .
Schaff, A . H . Harris and C. F . D aly: S e c., D wight W . Pardee, New York;
T r ea s..C h a s. F. C ox, New Y o rk: A uditor, P. A . H ew itt .Cincinnati, Ohio.
Directors.— W illiam K . Vanderbilt, Fred’k W . Vanderbilt, Chauncey M .
D epew , J. Pleroont Morgan, H . M cK . Tw om b ly, James D . Layng. W illiam
H . N ew m an, W alter P . Bliss, of New York; A lex . McDonald and M. E . In
galls, Cincinnati; James Barnett, Cleveland, O .— (V . 85, p. 345.)
C L E V E L A N D LO R AIN & W H E E L IN G R Y .— (See M a p B . & O .)— Owns
from Lorain, O ., to Bridgeport, O .. opposite W heeling, W . V a ., 158 m .; Les
ter to Cleveland. 28 m ., and branch to Bellalre, O ., 6 m .; total, 192 m .; and
has trackage into W heeling. V . 80, p. 1174.
H I S T O R Y .— Operated by the B alt. & Ohio, which owns about 75 % of
the stock. See that com pany and V . 7 2 , p. 480; V 7 3 , p. 236.
S T O C K .— Com m on, $ 8 ,0 0 0 ,0 0 0 , and p re f., non-cum . 5 % , $ 5 ,0 0 0 ,0 0 0 ,
par $100. After 5 % on each, both stocks share alike. V . 60, p. 1058.
D IV I D E N D S .— On pref. 1896, 3 % ; D ec. 1904. 2 X % ; 1905 to O ct. 1907
5 % (sem l-ann.).
B O N D S .— O f the $ 1 0,000 ,000 consol, refunding gold 4.V£s, the remaining
$ 6 ,000,000 are reserved to retire old 5s. V . 7 0 , p 2.30, 480.
R E P O R T .— Report for year ending June 30 1906 was in V . 8 3 , p. 1169.
In 1906-07, gross, $ 4 ,6 1 2 ,5 5 8 ; net, $1,811 ,5 9 2 ; charges, $56 8 ,4 6 2 ; im prove
m ents, $175,008; dlv on pref. ( 5 % ) , $250 ,00 0; b a l., $ 8 1 8 ,1 2 2 .— (V . 85,
p. 1005.)
C L E V E L A N D & M AH O NIN G V A L L E Y R Y .— Owns from Cleveland, O ..
to Sharon, P a ., 81 miles (57 double track); Niles, O ., to New Lisbon, O .,
and branches, 44 miles. Leased to Nypano R R . (formerly N . Y . Penn. &
Ohio) till 1962; rental $525,967 per annum. Coupon interest Is J .& J .,
registered Interest, Q .-J . Stock Is $ 3 ,2 5 9 ,2 0 0 , of which $ 3 ,258,250 Is held
by "A tla n tic First Leased Lines Rental Trust C o., L im ited,” of London.
Dividends In 1897, 13 % % ', 1898 to 1904, both Inclusive, 1 3 H % yearly;
In 1905, 11.42 % ; in 1 9 0 6 ,1 1 .4 0
(V . 63, p. 968.)
C L E V E L A N D & M A R IE T T A R Y .— Owns from M arietta, O ., to Canal
Dover, 103 miles, and branch, 7 miles, Zoar, O ., to Canal D over, leased
46
KAILWAY STOCKS AND BONDS.
R A IL R O A D S .
For explanation of column headings, & c., see notes
on first page of tables.
M iles
Date
of
of
Road. Bonds.
Size, or
Par
Amount
Value. Outstanding
Cleveland Cincinnati Chicago & St Louis— (Concl’d)
125 1903
$1,000 $1,500,000
Central Indiana 1st M $4,000,000 gold gu ar____ Ce
1,000
Ch I & St L S L 1st M $3,000,000 gold guar.C e.c* &r
45 1903
3,000,000
___ 1905
1,000 None J‘e ’06
Springfield Union Depot 1st M $300,000 gu ar____ Ce
Louisville & Jeffersonville Bridge 1st M — See thatCo
Cleveland Columbus Cincinnati & Indianapolis— Cleve land I ndiana polis St Louis & Chi
100
5,000,000
Cleveland Lorain & W heeling— Pref stock $5,000,000
1,000
Consol mortgage (now first) gold _______
. . Usm .c*
192 1893
5,000,000
1,000
893,000
General mortgage $1,000,000 gold redeem at 1 0 5 . .N
192 1896
1,000
192 1900
4,000.000
Con ref M $10,000 ,000 gold red at 1 0 2 4 ____ Ta.c*
2,935,000
Cleve & M V— Con M now first) $3,000,000 g -.C e .c & r
125 1888 1,000 &c
1,000
1,250,000
Cleve & Mar— 1st M sink fd not drawn gold g u a r .-F .c *
103 1895
____
50 11 247,593
Cleve & Pittsburgh— Stock 7 % guar b y Penn R R Co
8.274,050
50
Special betterm nt stock $10,738,135 guaranteed 4 %
1,000
4,561.000
Gen M $10,000 ,000 g o ld ..F I Series A & B -------------c*
202 1892
1,000
4,888,000
202: ’9 8 - ’00
Guaranteed prin & Inter/-Series C & D ............... c*
1,000
202 1892
439,000
(end.) Penn R R _______ /Series B Int. reduced.
Cleveland Terminal & Valley— See Baltimore & Ohio
184 1903
1,000
3,000,000
Coal & Coke— First mortgage $5,00 0 ,0 0 0 g o ld ________
Coal & Iron— See W estern Maryland
Coal River Ry— See Chesapeake & Ohio
13 1868
100 &c
600,000
Colebrookdale— 1st M $593,400 und Read M of 1 8 9 7 -C
1,000
9,179,000
259 1897
Colorado Midland— First mortgage $10,000,000 ..C e .c *
1,000
1,000,000
Colorado & Northwestern— 1st M $1,000,000 g o l d .. Us
51 1904
100 31,000,000
Colorado & Southern— Common stock $ 3 1 ,0 0 0 ,0 0 0 ___
100
8,500,000
- - 1j
First preferred 4 % non-cumulatlve $ 8 ,5 0 0 ,0 0 0 ____
8.500.000
100
1882
Second preferred 4 % non-cumulatlve $ 8 ,5 0 0 ,0 0 0 ..
1,000 19,102,00u
1,059 1899
First mortgage gold $ 1 9 ,8 5 3 ,0 0 0 _______________Ce.c*
1905
100 &c 17,642,75<
R ef M $ 100 ,00 0,00 0 gold red 101 begin 19 0 8 -Ce.c* &r
...
___ 1 1907
1,000
975.000
Equip bonds, ser A , due s-a, red 101' (V 84, p 507) . Q
___ i 1905
1,000 See text.
Col So N O & Pac— 1st M $12,000 ,000 g red 102 4 ..C e
_
1907
1,000
1,440,000
Equip tr notes, due $80,000 s-a, guar by S tL & S F Ba
1,000
75 1900
1,775,000
Col Sp & Crip Cr D Ry— 1st M $2,000,000 g s f ____ Ce
1.000
219,000
75 1901
Second mortgage $1,000,000 gold sinking fu n d ____
1,000
1902
1,379,000
First consol mortgage $3,600,000 g old _______Mo.c&r
1,000
171 1903
4,500,000
Colorado & W yom ing Ry— 1st M $ 7 ,500,000 g o ld ..M e
75 1887
1,000
899,000
Col Newb & Laurens— 1st M $12,000 per m iie .-S B a
1.000
70 1898
700,000
Columbia Southern— 1st M gold $ 2 ,1 0 0 ,0 0 0 _________ N
X Series “ A . ” J&J;
“ B ." A & O .
y “ C .” M & N : *‘ D ,
F& A
Stock. $2,0 0 0 ,0 0 0 . of which the Pennsylvania Co. Apr. 1 1907 owned
$1,786,100 (par $ 1 0 0 ;; surplus earnings over charges go to C. & M .
D ivi
dends paid In 1906 ( 3 % ) , $60,000.
B O N D S .— Guaranteed prin. and Int. by Penn. C o.: sinking fund 1 % .
E A R N I N G S .— In 1906, gross, $967,632; net, $255,581; Int. on bonds,
$ 56,250 ; Improvements, $84,596; other charges, $5,927; divs. ( 3 % ) ,
$ 60,000 ; b al., su r., $48,808.
In 1905, gross, $ 7 9 8 ,3 5 1 ; net, $ 9 0 ,4 7 7 .—
(V . 7 7 , p. 87.)
C L E V E L A N D & PITTSBU RG H R R .— [See M a p Pennsylvania Railroad.)
— Cleveland, O ., to Rochester, P a ., 124 miles; branches— B ayard, O ., to
New Philadelphia, 31 m .; Yellow Creek to Bellaire. 43 m .; other. 3 m .;
trackage, Rochester to Pittsb. (P. F t. W . & Chic.), 26 m .; total, 227 m iles.
L E A S E .— Leased for 99 years Dec. 1 1871 to Penn. R K . C o., ana lease
transferred to Pennsylvania Co.
R ental, 7 % on $11,261 ,865 stock, interest
on bonds and organization expenses. “ Special guaranteed betterment
stock” (subordinate to the original stock as to dividends o n ly ), with divi
dends of 4 % guaranteed by the Penn. R R ., Is Issuable for improvements.
V . 7 9 , p. 2205 , 2642; V. 83, p. 625.
B O N D S — Generals are all equally secured: guaranty. V . 56, p. 604.
E A R N I N G S .— In 1906 gross earns., $ 1 0,30^ ,002; net, $ 3 ,477,368; profit
to lessee was $1,77 1 ,871.— (V . 82, p. 217; V . 83, p. 265, 687; V 85 p. 1005.)
C L E V E L A N D T E R M IN A L & V A L L E Y R R .— (See M a p Baltimore &
Ohio.) — Owns from Cleveland, O ., to Valley Junction, 75 miles; branches,
7 mile ; yard track and sidings, 87 miles.
S T O C K .— Of the $5,200,000 common (par $50) B . & O . owns $ 4 ,594,300
com m on and of the $1,822,200 preferred, $949,200; par $100.
B O N D S .— The first mort. bonds are guaranteed, principal and interest,
by the B . & O . endorsed.
Car trust lease warrants (5s), $ 5 6 ,0 0 0 , due
$27,000 May 1 yearly to 1909, Inclusive.
R EXPORT for year ending June 30 1906 was in V . 83, p. 1168.
In 1006-07
gross, $1 ,1 8 2 ,4 8 6 ; net. $265 ,57 2.
In 1905-06, gross, $ 1 ,1 4 7 ,2 7 5 ; net in
com e, $243,413; interest, & c., $261,956; deficit, $ 1 8 ,5 4 3 .— (V . 83. p. 969,
1168.)
C OAL & COKE R Y .— Owns from Lelter, W . V a ., to Charleston, W . V a . ,
166 miles; trackage, Lelter to Elkins, 9 m .; Morris Creek branch, 3 m .;
Mabie to Belington, 17 m .; total, June 30 1906, 195 miles.
Branch from
Middle Fork to Casslty Fork, 12 m ., was completed July 1906. About
100,000 acres of coal lands are owned along the line of the road. Stock
com m on, $10 ,0 0 0 ,0 0 0 , all outstanding; 5 % preferred, $ 1 0 ,000 ,000 author
ized Oct. 1907, of which $8,88 1 ,9 0 0 Issued to purchase $ 6 ,3 0 0 ,0 0 0 bonds
and settlement of other debts; bonds reduced to $ 5 ,0 0 0 ,0 0 0 , of which $2,000,000 In treasury.
V . 85. p. 1005.
Mortgage covers road and coal lands.
V . 78, p. 4 7 . Car trusts June 30 1907, $ 4 98 ,00 0, due $55,000, yearly.
R e
port for year ending June 30 1906 (184 miles) was in V . 83, p. 1409.
In
1906-07, gross, $725,160; net, $144 ,59 4; net Income coal dept., $100,684;
total net, $245,278; Int. on bonds, $482,896; other Int., taxes, rentals, & c.,
$ 307 ,49 8; b al., def., $543 ,11 6.
Pres., H. G. D avis, Elkins, W . V a .; Sec.,
C. M. Hendley, W a s h ., D . C .— (V . 85, p. 920, 1005.)
C O L E B R O O K D A L E R R .— Pottstown to Barto, P a ., 12.84 miles. Leased
to Phila. & Reading R y .
Common stock, $297,215; par, $50.
C O L O R AD O M ID L A N D R Y .— Owns from Colorado Springs to New
C astle, C ol., through Buak-Ivanhoe tunnel, 234 miles, including Snowden
to Leadville, 8 miles, not operated; Jerome Park branch, 15 miles; Aspen
branch, 18 miles; total owned, 267 miles. Leases New Castle to Rifle Creek,
14 miles, and R io Grande Junction R R ., Rifle Creek, C ol., to Grand Junc
tion. 63 miles: total owned and leased. 344 miles.
O R G A N I Z A T I O N .— Successor Oct. 1897 to the Colorado Midland Rail
road, foreclosed and reorganized per plan In V . 64, p. 1224, 1226. In May
1900 a majority of the stock was purchased In the Joint Interest of the Colo
rado <t Southern and Denver & Rio Grande. V . 70, p. 686, 791, 997, 1290;
V . .7 1 . p. 28; V . 73, p. 1111. N o stock Is held by the public.
Pref.
$ 9,0 0 0 ,0 0 0 ; com m on, $ 4 ,000,000.
B O N D S .— In June 1900 the right to issue $500,000 prior lien 4s was
waived: V . 70, p. 1290; see also V . 7 1 , p. 139.
(V . 72, p. 821.)
E A R N I N G S .— 12 m os., ,1 9 0 6 -0 7 .............Gross, $2,4 5 1 ,6 0 8 ; net, $580,591
9 j) July 1 to June 3o.
1905-06_______ Gross, 2 ,1 3 2 ,6 6 4 ; n£t, 515,751
Yrs. end. June 30. Gross.
Net.
M isc . inc. Charges.
Balance.
1 9 0 5 -0 6 -.............$2,132,665
$604,755
$40,948 $522,061
sur$123,642
1 9 0 4 -0 5 _____ . . 1,975.227
348 989
36,963
457,127
def 71,175
O F F IC E R S .— Pres., Frank Trum bull: Vice-Pres., Chas. H . Schlacks;
Treas., H . B. Henson; Sec.. J. Steuart M acKle, 71 Broadway, New York.
D lre-tors.— Grenville 11. Dodge. Edwin H aw ley. E . C. Henderson,
George J. G ould, Edwin Gould, W inslow S Pierce. Harry Bronner. E. T .
Jeffery, Frank Trum bull and Chas. H . Schlacks.— (V . 77, p. 2035, 2389.)
CO LO R AD O & N O R TH W E STE R N R R — Boulder to W a rd , C ol.. 26
miles; Sunset to Eldora, 20 miles; branches, 5 miles; total, 51 miles.
Reaches Denver Union Depot from Boulder over Colorado & Southern
(third ral).
V . 80, p. 650.
In June 1907 W . B. Hayes was appointed
receiver. V . 84, p. 1427.
Stock. $1,000,000.
Bonds, see table above
V . 78, p. 1961; V . 79, p.
212, 268: V . 85. p. 864.
Year endlnr June 30, 1906, gross, $89,046; net,
$6,924; oper. exp ., including $37,000 for equipm ent.— (V . 85, p. 864.)
C OLORADO & SOUTH ERN R Y .— (See M a p . ) — Operates a system from
Orin Jet,, W vom lng. through Colorado to Fort W or»h , T e x ., and by ex
tensions built to 1906-07 reaches tidewater at Gal\a .ton, T e x ., and also
H ouston, Dallas and other points, viz.: (* which see.)
Lines owned—
M iles. I Controlled—
M iles
Cheyenne to Orin Junction_______ 154 |Fort Collins D evelopm ent------------- 17
Denver to Bessemer J et., Colo___ 129 |Colorado R R ------------------------------------ 19
Denver to Leadv. (nar. gauge)___ 152 I F t. W orth & Denver C ity----------- *454
Como to Baldwin Mine ( do ) ___ 131 |Col. Spr. & Crip. Cr. District— * 75
Trinidad, C ol., to Tex. St. line___ 135 |W ichita V a lle y ___________________ '1 1 3
Oth.lines.br. ,<Scc. (103 nar. gauge) 359! W ichita Falls & O klahom a---------- 23
Trackage— Pueblo to W alsenb’g
I Abilene & N o r t h e r n --------------------- 3*
(Denver & Rio Grande)________ 5 8 ’ Trlnlty & Brazos V a lley__________ *422?)
Total
_______________________ 1 ,1 1 8 i
b Includes 114 miles trackage.
Total
mileage___ * _____
a 62,279
j VoL,
lxxxv.
IN T E R E S T OR D I V I D E N D S .
Rate
%
4 g
4 g
4 g
1
When
Payable.
M
A
J
&
&
&
' Bonds— Prinei. £/Livt *V1«, 19 i / UV
Where Payable, and t>'j t Stocks— Last
Whom.
1
Dividend.
N Central Trust Co, N Y
O New York
J
do
cago— Se e Clevela
4 in 190 7 A & 0
A & O
5 g
& D
J
5 g
&
J
44 g J
See text.
5 g
44 g M & N
7
Q— M
4
Q— M
x
44 g
y
34 g
3 ,4 g A & O
?Nov 1 1953
/April 1 1953
Jan 2 1955
nd Cincinnati Chicago & 1st Louis
2 W all Street, New Y ork'O ct 1 1907 2 4
do
do
-Oct 1 1933
do
do
pJune 1 1936
do
do
rJan 1 1930
W inslow , Lan & C o, N YlJan 1 1938
Farmers L & Tr Co, N Y 'M a y 1 1935
W inslow , Lan & Co, N Yj.Sep: 2 1907 1 H.
do
do
Sept 2 1907 1 %
do
do
tJan-Oct 1942
do
do
{1948-1950
do
do
;Oct 1 1942
5 g
A
&
6
4 g
5 g
J
J
J
& D Reading Co Office, Phlia'June 1 1898
& J Central Trust Co, N Y
July 1 1947
&
J
In default
July 1 1954
-------------------- ----------------------------------1---------------------------& O Hallgarten & Co, N Y
jO c: 1 1907 2%
& O
do
do
|Oct 1 1 9 > 7 2 %
& A Central Trust Co, N Y
|Feb 1 1929
& N
do
do
(May 1 1935
& O Guaranty Trust Co, N Y A p r’ 08-A p r ’ 17
& N New York
INov 1 1925
& A . ............... ................ ............. . ' F e b '0 8 - F e b ’ 17
& J Chem B k.N Y ; & Col Sp^Jan 1 1930
& O lnt Tr Co, Denv & Col Sp April 1 1921
& O M Trust, N Y ; & Col Spr'O ct 1 1942
& S Boston Block, Denver
Mar 1 1933
&
J £.afe Dep & Tr Co. Balt July 1 1937
& D N Y Trust Co, N Y
Dec 1 1948
4 In 1907 A
4 In 1907 A
F
4 g
M
A
5
44 g M
5
F
J
5 g
A
5 g
A
5 g
M
4 g
J
3 g
J
5 g
O Elkins, W V a , or Balt
jAprll 1 1919
AKo owns half Interest In Colorado M idland, operating 3 3 6 m iles.
O R G A N I Z A T I O N .— Succeeded on Jan. 11 1899, per plan In V . 67, p .
7 48, the Union Pacific Denver & Gulf and Denver Leadville & Gunnison.
Owns a large m ajority of the common stock of Fort W orth & Denver City
R y ., which see. Colorado Midland Is controlled jointly by Colorado &
Southern and Rio Grande W estern. V . 70, p. 739. In Mch. 1902, Edwin
H aw ley, Pres, of Minneapolis & St. Louis R R ., and associates, acquired
control. V . 7 4 , p. 6 7 9 . 727. The voting trust expired April 1 1905.
Controls Denver & Interurban (Electric) R y ., under construction from Den
ver to Louisville J et.. 16 miles, and to operate 2 8 miles of Col. & S o u .,
which are to be electrified under lease. V , 7 9 , p. 1 2 6 6 ; V . 8 5 , p 7 9 3 .
In 1905 control of Col. Spr. & Crip. Cr. D lst. R y. was acaulred: also Trln.
& Brazos V a l., Cleburne to Mexia, T e x ., 79 miles, with extensions building
(of which half Interest later sold to St. Louis & San Francisco), and W ichita,
V a l., Byers to Seymour T e x ., 75 miles. See "F in an ces” below and V . 8 0 .
p. 1423, 1856; V . 8 1 , p. 1241; V . 8 2 , p. 928; V . 8 3 , p. 695. Stockholders on
April 28 1906 authorized construction of a line from Trinidad, C ol., north
erly about 120 miles to Florence. V . 8 2 , p. 986.
D IV I D E N D S .— 1st pref., 1900, 2 % ; 1901, 3 H % : 1902. 3 4 % : 1903, 4 % .
1904, April, 2 % ; 1905, none; 1906 and 1907, 4 % (A . & O ) .
On 2d pref.;
in 1907, 4 % (A . & O .).
B O N D S .— 1st M ., see V . 68, p. 1027; V . 7 7 , p. 2158; V . 7 9 . p. 2147.
The $ 1 0 0 ,00 0,00 0 refunding bonds of 1905 are Issuable or reserved as
follows (compare ‘ General Finances" below):
For refunding bonds and equipment obligations of system -----------$ 36,850,000
For betterments and improvements. Including equipment, at the
cumulative yearly rate, beginning Jan. 1 1905, of $500 per
mile of operated and controlled lines____________________________ 15,000.000
For reimbursement of the treasury of the company, & c--------------2,500,000
For acquisition of additional property (Including proper provi
sion for the cost of double-tracking parts of the main lines). . 45.650,000
Equipm ent bonds of 1907 mature $51,000 sem i-annually to April 1 1914;
thereafter, $52,000. V . 84, p. 507.
G E N E R A L F IN A N C E S .— In April 1905 a syndicate purchased about
$ 17,000,000 of the Issue of $100,000,000 refunding 4 4 % bonds and agreed
to furnish $15,000,000 cash. Of these bonds, $8,000,000 were to be issued
to take up the equipment trusts ("th e paym ents on which then aggregated
about $400,000 per annum ” ) and certain other obligations o f the Colo
rado & Southern and the Fort vVorth & Denver C ity, pay for the Cripple
Creek Short Line R R . and provide working capital, the remaining $9,00 0 ,0 0 0
to pay for a new extension to the Gulf at a cost of from $17,000 to $22,000 a
mile, including the Trinity & Brazos Valley. N o further bonds, except about
$1.00 0 ,0 0 0 a year for additions and betterments, can be issued before 1909
without consent of syndicate managers. V . 80, p. 1423, 1971; see V . 8 4 ,
p. 276. On June 30 1907, $19,521 ,917 had been issued.
The Rock Island Co. has agreed to share equally wltn the Colorado South
ern in any deficiency In earnings of Trinity & Brazos Vailey to meet the
Interest on the bonds (approximately $9,000,000) to be Issued under
Colorado & Southern mortgage to construct the road from Fort W orth to
H ouston, T e x ., and to pay on May 1 1935 (date of Col. So. refunding mtge.)
for an unencumbered half Interest In Trinity & Brazos Valley securities
or join, in re-financing same.
V . 82, p. 986; V . 8 3 , p. 695.
E A R N I N G S .— Including F t. W orth & Denver City and all affiliated lines.
For 2 m onths ending Aug. 31:
Gross.
Net.
Charge* (N et). Bal. .Surp.
1907
$ 2 ,305,018
$717,291
$405,831
$275,301
1906
2,114,544
691,855
352.479
306,111
R E P O R T .— Report for 1906-07 at length, showing operations of system
Including the Ft. VVorth & Denver City and Col. Spr. & Crip. Cr. Dlst. Ry
Fort Collins D ev. R y ., Colorado R R . and W ichita Valley lines (the net earn
ings of the portion of the Trinity fc Brazos Valley In operation being Included
In other Incom e), was In V . 8 5 ,p. 855, 868; editorial, p. 834.
Year ending June 30—
1906-07.
1905-06.
1904-05.
Miles operated____ ______ ______________
1 .8 5 7
1 ,6 6 3
1,663
Gross e a r n i n g s ...................................... „$ 1 3 ,456,489 $11,653 ,446
$9,443,426
9,5 8 2 ,1 1 4
8.^214,307
7 ,230,617
Operating expenses and taxes...............
N et earnings________________________
$ 3 ,874,375 53,439,139
$2,212,809
Total net Income_______________________$3,98 5 ,4 3 7
$3,596,413
____ _______
Interest on bonds, & c_________________ 1 ,893,599
1,830,201
_____________
Dividends on first preferred___________ (4)340,000
(2)170,000
.............. .......
Dividends on second p re fe rred _______ (2)170,000
.............. ........................... .......
Balance, surplus_________ _______ _
$ 1 ,706,146
$1,596,212
__________
O F F IC E R S .— Chairman, Grenville M. Dodge, N . Y .; Pres., Frank Trum
bull, N . Y .: Gen. Mgr -> Joseph H . Y ou n g, Denver, C ol.; Sec. and T reas.,
James Steuart M acliie, 71 Broadway, New York.
Directors— Grenville M. Dodge, Henry Budge, James N . W allace, John J.
Em ery. B. F. Yoakum . Edwin H aw ley. Frank Trum bull. Henry E. H unt
ington, W . S. Crandell, Levi C. W eir, Hans W lnterfeldt and Harry Bronner,
N . Y . ; Henry W alters, Baltimore, M d.— (V . 85, p. 855, 868.)
COLOR AD O SO U TH ERN N E W O R L E A N S & PACIFIC R R .— (See S . L .
* S . F . M a p .) — Baton Rouge. L a ., to Houston, T e x .. 303 m ; to be operat
ed early in 1908; from Baton Rouge to have 111. Cent, trackage to New
Orleans, 133 m .
Extension was built from De Quincy to H ouston. T e x .,
137 m ., Including Kansas City Sou. trackage between De Qulncey and
B eaum ont, T e x ., 47 m ., and the Beaumont Sour Lake A> Western R R ..
Beaumont to Sour Lake. 22 m ., and the Orange & Northwestern R R ..
Newton to Orange, T e x .. 61 m ., acquired.
The St. Louis & San Fran, owns all the stock and leases the ro -d for 999
years, $8,50 0 .0 0 0 of the bonds being deposited as security for $ 7 , 5 0 0 ,0 0 0
St. Louis & San Fran, notes. V . 82, p. 028.
Bonds, see table nbove. V .
82, p. 509. 868.
Equipment trust notes, guar, by St. Louis & San F ran..
V . 84, p. 507.
Old bonds of companies acquired, for whlchSr. Louis & San
Fran. gen. Hen bonds of 1907 are reserved, $ 4 2 4 .0 0 0 Orange * Western 1st
30-year 5s due Sept. 15 1933 and $170,000 Beaumont Sour Lake & W estern
first 6s maturing July 1 1935.
Pres., C. C. Cordlll, New Orleans. L a .—
(V . 82, p. 986; V . 84, p. 449, 507; V . 85, p. 530.)
COLOR AD O SPR IN OS & C R IP P L E C R E E K D ISTR ICT R Y .— Colorado
Springs to Cripple Creek, C ol., 46 m .; branch. Cameron to V c t o r , 5 m .;
O ct .. 1907.]
RAILWAY STOCKS AND BONDS.
THE C0L0RAD0 & SOUTHERN RY
47
48
RAILWAY STOCKS AND BONDS.
Columbia & Greenville— See Southern R y.
Columbus & Toledo— See Hocking Valley R y.
Columbus & Xenia— Stock 8 % rental_________________
Combination Bridge (Sioux City la )— First mortgage
Conco J & Claremont (N H)— First m ortgage_______ C
Concord & Montreal— Stock Class I (B C & M pref) . .
Stock Class II (B C & M n ew )............................................
Stock Class I I I (B C & M old s to c k )_________________
Stock Class I V (Concord) $ 6 ,000,000 auth ( t e x t ) ..
Boston Con & Mon Improvement mortgage________ c
Concord & Montreal cons M for $ 5 ,500,000 ..B B .c *
Debenture bonds, $ 1 ,1 5 0 ,0 0 0 . c u rre n cy __________c*
do
do
$500,000 Interest guaranteed
Concord & Portsmouth— Stock 7 % rental 99 yrs Cone
Conn & Passumpsic— Pref stock 6 % rental 99 years.c*
First mortgage $1,900,000 g o l d . . ................................c*
MassawippI stock guar same dlv as Conn & Passump
Newport & RIchford 1st M guar by C & P _______c4
Connecticut River— Stock ( $ 3 ,6 7 0 ,3 0 0 a u th o r iz e d )...
Bonds not mortgage for $ 1 ,000,000 g o ld ____________ c
Bonds not m ortgage____________________________________
do
do
_______________ _____________________
V V a l 1st M with $500,000 S Co R R stock as co l_.c*
Conn (Phi a)— Phlla G & Ch H 1st M guar by P e n n ..r
Conn R y 334 % gold mortgage $ 5 ,0 0 0 ,0 0 0 .................
Cooperstown & Susq Val— 1st M $200,000 Int g u a r ..
Copper Range— First mortgage gold (see t e x t )_______
Cornwall & Lebanon— S to c k _____________ ____________
First M extended at 4 % in 1906 (V . 82, p. 1 3 2 2 ) ..r
Corvallis & Eastern— First M ($ 1 1 ,2 5 0 ,0 0 0 )____ Ce.c*
Cripple Creek Central— Common s t o c k ............................
Preferred stock 4 % non-cum ulatlve---------- ---------------M idland Term first mortgage gold sinking fu n d . F.c*
Cuba Eastern— First mortgage $1,000,000 g o ld -.K .c *
Northeastern Cuba 1st M $1,000,000 g gu p & 1 . .K
Cuba E a s t e r n T e r m in a l fir s t m t g e g u a r a n t e e d -------K
Cuba RR— 1st M gold $20,000 per m ile.............M o.c&r
M iles
Date
of
of
Road. Bonds.
55
.
71
___
___
___
166
262
_
_
.
40 34
110
37
22
80
...
...
24
7
37
19 34
T ext
26
26
1895
1894
....
....
....
___
1881
1890
’9 7 -’99
1900
....
....
1893
____
1881
____
1893
1901
1903
1880
1883
1902
1888
1899
1891
1898
...
_
41
43
53
426
- ..
1895
1903
1906
1905
1902
Size, or
A mount
Par
Value. Outstanding
$50
500 &c
1,000
100
100
100
100
1,000
1,000
1,000
1,000
100
100
1,000
100
1,000
100
1,000
1,000
1,000
1,000
1,000
1,000
lfiO &c
500 &c
50
100 &c
1,000
100
100
1,000
1,000
1,000
1 ,0 0 0
1,000 &c
other branches and spurs, 24 m .: total, 75 m ., ol which 59 m . steam , 14 m .
ateam and electric and 2 m . purely electric. In Jan. 1905 Colorado &
Southern acquired all the stock except $900 com . V . 8 0 , p. 4 72, 1111, 1423.
S tock, all outstanding, com ., $1,200 ,0 0 0 ; pref., 5 % , non -cu m ., $ 8 00 ,00 0.
Par of shares, $100 each. Sinking fund can retire first mort. bonds yearly
a t 110 for the first 15 years, then at 107 34 for 5 years, then 105 for the next
flve years, then 102 34 for three years, thereafter at par. V . 7 6 , p . 345.
E A R N I N G S .— For year ending June 30 1906, gross earnings, $1 ,1 1 8 ,1 7 2 ;
net Income, $587 ,16 4; total deductions, $401,024; dividends, $124 ,00 0;
b a l., sur., $62,140.
Earnings are Included in those of Col. & Sou. R y
system .
Pres., Frank T rum bull.— (V . 81, p. 725.)
C O L U M B IA N E W B E R R Y & L A U R E N S R R .— Columbia to Laurens.
S. C ., 75 m . Stock, $ 5 00 ,00 0. Bonds were 6s, but re-lssued as 3s In 1900
under agreem ent, certificates of interest to am ount to 40 % of bonds being
issued bearing Interest If earned.
E A R N I N G S .— 2 m o s .,1 1 9 0 7 _______________ Gross, $ 41,078 ; op .def.
85
July 1 to A ug. 31.
j 1906_______________ Gross,
4 6 ,6 7 2 ; net,
9,876
Year ending June 30 1907, gross, $311 ,95 5; net, $ 45,156 ; charges, $37,049 ;
b a l., sur., $8,1 0 7 .
Pres., W . G. Childs, Columbia, S. C.
C O L U M B U S & L A K E M IC H IG A N R R .— V . 8 2 , p. 803.
C O L U M B U S & SO U TH ER N R Y .— W yan d otte, O ., at a connection with
the Penn. R R ., to South Bloom lngvllle, 34 m .
In N ov. 1906 control was
changed, an extension being under construction north to Lancaster; exten
sion about 200 miles to Portsmouth proposed, of which about 100 miles
were let. V . 83, p. 1290.
Stock authorized, $ 2 ,0 0 0 ,0 0 0 .
For year end
ing June 30 1906, gross, $ 1 3,542 ; oper. d e f., $122; total deductions, $535;
b a l., d e f., $ 657 .— (V . 82, p. 1379; V . 83, p. 1290.)
C O L U M B U S & X E N IA R R .— Owns from Colum bus, O ., to X en ia, O .,
55 miles.
Operated as a division of the Little Miam i, and is leased for 99
years from Dec. 1869. in connection with that road, to the Pittsburgh Cin
cinnati Chicago & St. Louis, which pays 8 % on stock. The lease is guar
anteed by Pennsylvania R R . Co. D ividends, 2-5 % per annum , from assets,
were discontinued in 1901.— (V . 7 2 , p. 532.)
C O M B IN A TIO N B R ID G E (S IO U X C IT Y , I A .) — Owns steel bridge 1,940
feet long over Missouri R iver, with approaches, 1 mile, used by railroads
and street cars and as a highway. Stock, $ 1 ,5 0 0 ,0 0 0 . Mort. trustee, Union
Trust C o ., Indianapolis, Ind.
P res., Jos. C. H ead, Latrobe, P a .; S e c., F.
L . Eaton, Sioux C ity, la .— (V . 7 8 , p. 102, 286.)
CONCORD & M O N T R E AL R R .— From Nashua, N . H ., via Concord,
Plym ou th, & c ., to Groveton and the W hite M ountains, 450 miles In all, In
cluding Manchester & Keene, 30 m ., owned Jointly, 414 m .; 35 m . double
track.
Owns Concord Street R y .. 13 m .: also electric branch from Concord
to Manchester, N . H ., 17 miles, and Nashua & Acton R R ., 20 miles.
Stockholders voted Oct. 8 1907 to issue $160,000 stock for Improvements,
per annum on all stock.— (V . 81, p. 4 49; V 85, p. 864, 921.)
On June 29 1895 leased to Boston & Maine for 91 years at rental of 7 %
per annum on all stock.— (V . 82, p. 568; V . 84, p. 449; V . 85, p. 864, 921.)
CONCORD & PORTSMOUTH R R .— Owns Portsm outh, N . H ., to M an
chester, N. H ., 40 3 4 m . Leased to Concord R R . in 1862 for 99 years; rental,
$ 2 5 ,0 0 0 ; 7 % on stock and org. exp.
Operated by Boston & Maine.
CON NE CTICU T & P A SSU M P SIC R IV E R S R R.— W hite River J e t., V t .,
to Canada Line, 110 m .; leases 999 years MassawippI V alley, 37 m .
L E A S E .— From Jan. 1 1887, leased to the Boston & Lowell for 99 years
on a basis to pay C. & P . stock 5 % till Jan. 1897 and 6 % thereafter.
S E C U R IT I E S .— MassawippI stock receives same dividends as stock of
lessee and $400 ,00 0 of it (not Included In the am ount outstanding) is pledged
as part security for 4s of 1893.
O f the $ 2 ,5 0 0 ,0 0 0 pref., $ 5 00 ,00 0, as also
$50,000 MassawippI Valley R y. stock, are represented by Connecticut Trust
& Safe Deposit Co. of Hartford 5 % trust certificates, under which the Ver
m ont Valley has the right, for 45 years from Aug. 1 1885, to purchase the
trust stock at par and interest and In the meantime receives all dividends
above 5 % per annum on the stock deposited In trust.— (V . 5 7 , p. 1040.)
C ON NECTICU T R IV E R R R .— Owns from Springfield, M ass., to Keene,
N . H ., 74 m .; Bellows Falls to Brattleboro, V t ., 24 m .: branches, 6 m .; total,
104 m ., of which 50 double-tracked.
Controls Sullivan Co. R R .. Bellows
Falls to W indsor, V t ., 26 miles. V . 80, p. 1478; V . 81, p. 899, 1723.
L E A S E .— Leased for 99 years from Jan. 1 1893 to the Boston A Maine,
annual rental (as amended O ct. 10 1895) being 10 % per annum on capital
stock , payable directly to stockholders: also interest on bonds and scrip and
$ 2 ,0 0 0 for organization expenses. Lessee pays all taxes, operating ex
penses, & c., but lessor to Issue Its stock or bonds for permanent Improve
m en ts.— (V . 8 1 , p. 899, 974, 1723; V . 83, p. 625.)
CON NECTING R Y . (P H I L A D E L P H I A ).— Owns from a Girard A ve. to
Frankfort J et., P a ., 7 m .; North Phlla. to Chestnut H ill, 7 m .; branches,
& c .. 23 m .; total. 37 m .
V . 73, p. 390. Stock authorized. $5,8 0 0 ,0 0 0 ; out
standing, $ 3 ,613,650; all owned by Pennsylvania R R .
Dividends 1902
to June 1907 inclusive, 4 % yearly (J & D ).— (V . 7 5 , p. 1354.)
C O O PERSTO W N & C H A R L O T TE V A L L E Y R R.— (See M a p D el. &
H u d .) — Owns Charlotte Crossing to Davenport Centre, 4.51 m .: leases for 99
years from Jan. 1 1889, Cooperstown & Susque. Valley R R ., Cooperstown
to Charlotte Crossing, with branch to Cooperstown J et.. 19.48 m ., guaran
teeing Interest on latter’s $200 ,00 0 5 % bonds. Stock, $ 4 5 ,0 0 0 , acquired
July 1903 by Del. & H ud.— (V . 7 7 , p. 88.)
C OPPER RAN GE R R.— Calum et, M ich., to Mass C ity, with branches,
total, 82 m .; side tracks, 33 m . Stock, $ 4 ,0 0 3 ,7 0 0 , of which $ 1 ,398,600
owned by Copper Range Consolidated (Mining) Co.
Bonds limited to
$ 2 0,000 Der mile of main line and branches and $15,000 per mile of sidings.
O f the $2,025,000 bonds outstanding. $615,000 were In Jan. 1907 held In
the treasury of the Copper Range Consolidated Co. V . 78, p. 228.
E A R N I N G S .— 1 m onth,11907 ......................G ross, $88,173; net, $45,684
July 1 to July 31.
/1 9 0 6 .......................Gross, 68,4 9 6 ; net, 31,766
Interest charges, $37,247 In 1907. against $23,3 2 9 .
Y ear ending June 30 1907, gross, $ 8 1 9 ,2 9 2 ; net, $285 ,93 6; interest,
$ 101 ,25 0; balance, surplus, $184 ,68 6.
Pres., W illiam A . Paine; Sec. and
Treas., Frederick Stanwood, B oston.— (V . 7 8 , p. 228.)
ol. l x x x v .
I N T E R E S T OR D I V I D E N D S .
R A IL R O A D S .
F or explanation of column headings, & c., see n'ttes
on first page of tables.
V
Rate
%
$1,786,200 See text.
500,000
5
500,000
434
800,000
7
7
540,400
7
459,600
7
5,647,600
500,000
6
4
5,000,000
1 ,050,000 3 >4 & 4
334
473.000
350,000
7
6
2,500,000
1,900,000
4 g
6
400,000
5
350,000
3 ,1 1 8 ,0 0 0
10
1,000,000
4 g
290,000
334
969,000
3}4
800,000
5
1,000,000
43*
991,000
334 g
5
200,000
2,025,000
5 g
800,000 8 In 1907
764,900
4
1,410,000
4 g
2,500,000 6 in 1907
3.000,000 4 In 1907
418,000
5 g
1,000,000
6 g
900.000
5 g
6
2 0 0 .0 0 0
6 ,799,000
5 g
When
Payable.
Where Payable, and by
Whom.
Bonds— Princi
pal, When D u
Stocks— Last
Dividend.
Q— M
& J
&
J
Q— J
Q— J
Q— J
Q— J
J
&
J
J
& D
J & D
J
& D
J
&
J
F & A
A & O
F & A
J
&
J
J
&
J
M & S
J
& J
J
&
J
A & O
M & N
M 15 & S
M & N
A
& O
J
&
J
A & O
F & A
Q— J 25
Q— .J 25
J
& D
M & S
M & S
F
& A
J
&
J
Treasurer, Columbus, O
Hanover N at B k , N Y
First N at B ank, Boston
Checks mailed
do
do
do
Faneuil Hall B k , Boston
Safe Dep & Tr Co, Bost
Bost S D & T r, Boston
do
do
Manchester, N H
Safe Dep & Tr Co, Bost
do
do
do
do
do
do
Boston, Mass
do
do
do
Safe Dep & Tr Co, Bost
Broad Street S tat’ n, Phil
do
do
N at B k , Cooperst’ n, N Y
B oston, Mass
C o.’s Office, Lebanon, Pa
do
do
New York City
Checks mailed.
do
Farmers L & Tr Co, N Y
Knickerbocker Tr C o .N Y
do
do
do
do
Morton Trust Co, N Y
Sept 7 1907 2 %
July 1 1915
Jan 1 1914
Oct 1 19071
O ct 1 1907 1 K
Oct 1 1907 1
Oct 1 1907 1 H
Jan 1 1911
June 1 1920
June 1 1920
June 1 1920
July 1907 3 34 %
Aug 1 1907 3 %
April 1 1943
A u g 1907 3 %
Jan 1 1911
July 1 1 9 07 5 %
Sept 1 1943
Jan 1 1921
Jan 1 1 9 23
Oct 1 1910
M ay 1 1913
Mar 15 1932
May 1 1918
Oct 1 1949
July31 1907 4 %
April 1 1921
Feb 1 1998
Oct 21’07 1 34 %
Oct 21 1907 1 %
Dec 1 1925
Mar 1 1933
Mar 1 1955
Feb 1 1 9 25
July 1 1952
J
J
C O R N W A L L R R .— V . 7 4 . p . 1139.
C O R N W A L L & LEBA N O N R R .— Owns Lebanon, P a ., to Conewago.
21.66 m .; branches, 4 .78 m .
In June 1901 the Pennsylvania Steel Coacqulred $540,000 stock, nearly all the remainder being owned by the Lack,
awanna Steel Co. V . 7 2 , p . 1241 . 1£83.
D IV S .— 1 To 1893.
’ 94. ’95. '96. 97. ’» 8 . ’ 99. '00. ’ 01. ’ 02 to’0 6 . *07.
Percent . . ) 4 to 4 34 y ’ly
2
4
4
3
4 4 )4
5 534 6 y ’ly
8
E A R N I N G S .— 2 m o s .,J 1 9 0 7 ......................... Gross, $ 8 3 ,5 5 5 ; net, $39,151
July 1 to A u g. 31.
t l 0 0 6 ______________Gross, 9 2 ,7 6 0 ; n e t, 51,976
Surplus over charges, 2 m onths, $32,289 In 1907, against $43,5 1 0 .
In 1906-07, gross, $481 ,70 0; net, $241 ,09 0; other incom e ,$10,790; charges.
$52,529; dlv. ( 8 % ) , $64,000 ; b a l., sur. $ 1 3 3 ,3 3 1 .— (V. 8 4 , p. 270.)
C O R V A L L IS & EASTER N RR.— Owns Yaqulna to Idanah, O re., 142
miles.
Land grant was 850,000 acres. Successor In 1897 of Ore. Central di
Eastern, and so of Oregon Pacific, foreclosed Dec. 1894.
In June 1907
reported as sold to Southern Pacific Co. V . 84, p. 1427.
Stock, $ 1 1 ,2 5 0 ,000; outstanding, $ 1 ,410,000.
Mortgage provides for extension.
E A R N IN G S .— In year ending June 30 1906, gross, $175,312; net, $ 61,576; total deductions, $ 6 6,918 . Pres., J. P. O ’ Brien; Treas., John W . N ew
kirk; Sec., H . F . Connor.
Office, Portland, Ore.— (V . 84, p. 1427.)
COTTON B ELT .— See S t. Louis Southwestern R y.
CRIPP LE C R E E K C EN TR AL R Y .— Divide, C o l., to Cripple Creek and
Florence, & c., 76 m .; Victor to Vista Grand, 6 m .; branches and spurs to
mines, & c., 46 m .; total, 128 m ., of which 57 m . standard gauge. Con
trols Midland Terminal R y ., Florence & Cripple Creek R R ., Golden Circle
R R ., Canon City & Cripple Creek R R ., Colorado Trading & Transfer C o.,
See V . 69, p. 8 5 1 , 1011, 1103; V . 7 2 , p. 984; V . 7 4 , p. 880; V . 7 7 , p. 1542.
Reorganization per plan In V . 7 8 , p. 2018; V . 7 7 , p. 1542, of the Denver 4e
Southwestern, foreclosed Oct. 4 1904. V . 7 9 , p. 1461.
ST O C K S A N D B O N D S .— Common stock, $2,5 0 0 ,0 0 0 ; 4 % non-cum. pre
ferred stock. $3 ,0 0 0 ,0 0 0 : par of shares, $100. In May 1906 a syndicate
represented by Kessler & Co. acquired a m ajority of stock. V . 8 2 , p. 1156.
D IV I D E N D S .— On pref. 3 % paid July 20 1905; O ct. 25 1905 1 % (quar.)
Jan. 1906 to Oct 1 9 0 7 ,4 % yearly (1 % (Q -J .).
On com . Oct. 25 1 9 0 5 ,3 %
from earnings of year ending Sept. 30 1905; In 1906, Ja n ., 2 3 4 % . Including
1 3 4 % extra: April, 2 % , Including 34% extra; July, 1 K % ; O ct., 1 3 4 % ;
1907, 6 % (Q .-J .).
R E P O R T .— Report for year ending June 30 1906 In .V 83, p . 1167
showed gross earnings of railroads controlled, $901,984; net income of rail
roads over charges, $328,846; total net Income above general expenses.
$336 ,75 5. Total available Income of parent company (Including $167,689
past-due Int. coupons received and $909 bal. on hand July 1 1905) was
$457,558; dlv. on pref. stock ( 6 % ) , $180 ,00 0; dlv. on com. (7 3 4 % ).
$187,500; total surplus, June 30 1906, $90,058 .
Pres., Henry M . Blackmer; Vice-P res., R . E . F . Flinsch; Sec. and T rea s., John Gorlow. Direc
tors, V . 7 9 , p. 1461; V . 82, p. 1156.— (V . 8 3 , p. 1167.)
C U B A EASTERN R R.— Owns from port of Bogueron at Granadillo B a y ,
on south coast of Cuba, northwest via Guantanamo to forest lands owned by
the Cuba Hardwood C o ., 43 miles; leases for 99 years Northeastern Cuba R R
from San Pre to San Luis, 47 miles, with 6 miles of branches; to be extended
eventually to Nipe Bay on the north shore of Cuba; also branch to be built
from San Luis to Palma Soriano, at once, and later to Manzanillo.
Has 5-year contract with Cuba Hardwood Co. V . 76, p. 1355. Stock
$2,0 0 0 ,0 0 0 , all outstanding.
Bonds (see above); Northeastern Cupa guar
anteed bonds. V . 82, p. 162.
Pres., H . W . Bennett.
Office, 20 Broad
S t .. N . Y . — (V . 76, p. 1355; V . 82. p. 160.)
CUBA R R .— Owns from Santa Clara, Cuba, to Santiago de Cuba, 356
miles: branches Zaza Jet. to Sanctl Splrltus, 8 miles; Alto Cedro to the
Bay of Nipe, 31 m .; Ponupo branch, 11 m .; Jatibonico branch, 4 m .; Hol
guin branch, 12 m .; Tana branch, 4 m .; total, 426 miles. See V . 75. p.
1157, 1347.
Extension to built from Santa Clara to H avana, 170 miles.
V . 82, p. 1322. Road opened Dec. 8 1902. G ovt. loan, $769 ,59 0, of which
the remaining one-third was paid Dec. 1906; any balance not repaid by G ovt,
transportation service to be paid Dec. 15 1916 without Int.
V. 8 3 , p. 1093.
Stock authorized, $ 1 0,000 ,000 each of common and 6 % non-cum. pref.:
outstanding, common, $ 6 ,1 2 6 ,0 0 0 ; preferred, $10 ,0 0 0 ,0 0 0 ; par of shares,
$100.
Bonds, see table above.
R E P O R T for year ending June 30 1906 was in V .8 3 , p .1092. In 1906-7,
gross earnings, $1,953 ,3 0 9 ; net over taxes, $658,354; bond Interest,
$325,930; bal., sur., $332 ,4 2 4 .
In 1905-06, gross, $ 1 ,6 1 9 ,0 8 2 .
Pres.. Sir William C. Van Horne: Vice-Pres.. Franklin B. Lord; S e c.,
Herbert C . Lakln Treas., James I. Burke. Office, 83 Montgomery S t..
Jersey City. N. J.: 80 Broadway. New Yo rk.— (V . 85. p; 921.)
C U M B E R L A N D C O R PO R ATIO N .— O R G A N IZ A T IO N .— A holding com
pany owning the stock ($2,300,000) of the Cllnchfteld Corporation (V . 80
p , 2346. 2222, 2 2 4 ), which owns 300,000 acres of coal lands In Virginia and
West Virginia, the stock of the South & Western R y. and a block of the
SeaboaTd Co. stock (see the two companies last named In this Section.)
Stock, common, $ 2 5,000 ,000 ; 6 % pref., $ 1 5 ,0 0 0 ,0 0 0 , all paid In. In
July 1906 sold $ 1 5,000 ,000 notes (see above) to complete the South &
Western to a connection with the Seaboard Air Line R y . at Rutherfordton,
N . C ., a distance of 107 miles, giving via the Seaboard a new outlet for the
Cllnchfleld coal. V . 8 3 , p. 155.
C U M B E R LA N D & P E N N S Y L V A N IA R R — Owns from Cumberland,
M d.. to P ie d m o n t,W .V a ., and several branches, 57 miles. Owned and op
erated by Consolidation Coal C o., which guarantees by endorsement the
first mortgage.
V . 5 2 , p. 390. Stock, $1,500 ,0 0 0 : pj.
$100.
For year
ending June 30 1907 gross. $1,136 ,2 6 2 ; net, $652,526; cuarges. & c., $ 550 ,994; baiance, surplus, $101 ,53 2.
C U M B E R LA N D V A L L E Y R R .— Pennsylvania R R . Jan. 1907 owned
$975,850 com. and $237,200 pref. and In Dec. 1906 offered to give In ex
change 3 shares of Its stock for one share of Cumb. Val. V . 8 3 , p. 1469.
There are $88,000 8 % bonds maturing April 1 1908.
O ct , 1907. J
RAILWAY STOCKS AND BONDS.
R A IL R O A D S .
F or explanation of column headings, <fcc., see notes
on first page of tables.
Cumberland Corporation— N otes______________________N
Cumberland t: Pennsylvania— 1st M gold gu ar------ G
Cumberland Valley— Com m on stock.................. ................
Preferred stock ($243,000 2d pref)
(Bonds see text)
Debentures 5500,000 redeem beginning April 1 9 0 8 ..
Dayton & Michigan— Com stock (3 M % guar C H & D)
Preferred ( 8 % guaranteed C H & D) endorsed------First mortgage guar p & 1 endorsed by C H & D — c
Dayton & Union RR— First M sink fund (not drawn) .c
Dayton Union Ry— First M sinking fund call at par . . F
Delaware— Stock ------------------------------------------------------------General mortgage g old ............................................ F P .c '
Delaware & Chesapeake 1st M assumed currency . . c
Delaware & Bound Brook— Stock 8 % guar P h il*R ea d
First mortgage $ 1 ,8 0 0 ,0 0 0 -----------------------------------PeP
Del & East— D & E R R 1st M $1,000,000 g ......................
New mortgage $6,000,000 g old ----------------------------------Delaware & Hudson— Stock $55,711 ,500 (te x t)---------First M on Pennsylvania D iv ($10,000,000) . Un.c&r
Schenectady & Duanesburg first m ortgage-------------Adirondack 1st M gold guar p & 1 e n d ------ Us.c* &r
Debentures $14,000 ,000 gold convert (see text)c*& r
Car trusts $150,000 payable M ay y e a r ly _____ Usm
Equipment deb $ 2 ,5 0 0 ,0 0 0 , $200,000 annually Jan 1
Equip 1st lien bonds $10,000,000 gold s f_ Usm.xc*<fcr
Guaranteed Securities—
H udson Coal Co deb guar p & 1 end part due yearly
Bluff Point Land Im provem ent Co 1st M gold guar c*
Chat Ore & I refunding mortgage call 105 N-------c* &r
A lbany & Susquehanna R R , N Y & Canada R R .C h
Delaware Lackawanna & W estern— Stock------------------Delaware Md & Va— Junction & B— first m o rtg a g e..
Break & Frank 1st M to State red after Jan 1 8 9 5 ..
Other mortgages............. ................................. - ...................c*
Del River RR & Bridge— 1st M gold guar p & l.G P .c *
Denver Northw & Pac— 1st M $22,500 ,000 gold .M e.c*
I N T E R E S T OR D I V I D E N D S .
M iles Date
of
of
Road. Bonds.
...
57
1906
1891
Size, or I
Par
| Amount
Value. \Outstandlng
Rate
%
When i Where Payable, and by
Whom
Payable. |
5
J
& D
1 ,000,000
M & N
. 5 e
in 1907
1.292.950
Q— J
484,900
8
Q— J
4
282,000
A & O
ZX
A & O
.............5 0 1 2.401.950
50
1,211,250
Q— J
8
2 .728.000
J
&
J
1,000
225.000
7
J
& D
1,000
473.000
J
& J
1,000
4 g
25
2,987,225 , In 1907 J
&
J
1,000
500.000
&
J
4>* g
4
.
_
1,000
400.000
&
A
8
I Q— F
100
1.800.000
1,800,000
1,000
3 M g ;F & A
5 g
jj
& J
See te x t.
50*0 &c See text.
5 g
In 1907; Q— Mar
100 42,399,500
5.000.000
7
M & S
1,000 &c
100 &c
500.000
6
IM & S
1.000.000
, 1,000
4 }4 g M & S
4 g |J 15 & D
1,000 14.000.000
3 H g;M 15 &N
1,000
300.000
4 g |J &
J
1.300.000
10 000
1,000 10 000.000
4H g J
& J
.......... ..
$1,000
$15,000 ,000
501
50
1905
142
32
1871
1881
1879
1899
248
117
54
1892
1882
'3 4
49
1905
1906
1907
1877
1874
1892
1906
1899
1900
1907
.
D AYTO N & M IC H IG A N R R .— Owns D ayton , O ., to Toledo J e t., O .
141 miles; trackage Into Toledo, I M miles.
Leased May 1 1863 in perpetuity to Cin. H am . & D ayton .
R ental Is in
terest and sinking fund and 8 % on pref. stock and 3 )$ % on com . Guaranty
on pref. Is secured by m ort. of 1871, but the pref. carries no voting power.
V . 5 6 , p. 813. M ort. of 1856 Is held alive under m ort. of 1881.
D AY TO N & UNION R R .— Owns from D odson. O ., to Union C ity, I n d .,
32 miles; leases D ayton to Dodson, 15 miles; total operated, 47 miles.
The Cleve. Cin. Chic. & St. Louis and Cin. H am . & D ayton jointly own
the $88,300 stock. A ll surplus earnings over interest goes to a sinking
fund for redemption of bonds at not above 100. The am ount required
for redemption of bonds at their m aturity has already accrued. Year
ending June 30 1907, gross, $156 ,80 6; net, $31,582 ; other Income. $10,433 ;
charges, $20,575 ; balance, surplus, $ 21,440 .
D AYTO N UNION R Y .— U nion depot at D ayton , O . Used b y P itts.
Cin. Chic. & St. L ., Clev. Cin. Chic. <Sc S t. L ., Cin. H am . & D ayton, D ayton
& Union R R . and Erie R R . under lease which provides that Interest on
bonds and other expenses be divided between them on train basis. Stock,
$ 3 21 ,00 0, all com m on. Pres., M . E . Ingalls; S e c., W . F . Stark; T reas., J.
E . Howard. Office, Cincinnati, O ,— (V . 73, p . 1312.)
D E E P W A T E R R Y .— See Virginian Railway.
D E L A W A R E R R .— (See M a p s Pennsylvania R R .)— Shellpot Crossing,
D e l., to Delmar. M d ., 95.22 miles; branches, Centrevllle, M d ., to Townsend,
D e l., 35.11 miles; Clayton, D e l., to O xford, M d ., 54.23 miles; Seaford, D e l.,
to Cambridge, M d., 32.92 m .; Masseys, D e l., to Chestertown, M d ., 20.38 m ..
Other branches, 10.39 m .; total, 248.25 miles. V . 6 7 , p. 1356.
Leased till M ay 1 1927 to the Philadelphia Baltimore & W ashington,
Which owns $ 1 ,664,475 of the stock: rental net earnings— see V . 6 4 , p . 1000.
Dividends 1898 to July 1906, 6 % yearly; 1907. 8 % .
In year ending
O ct. 31 1906, gross, $ 2 ,478,390; net, $621,020; other income, $53,111 ; in
terest, taxes, & c., $167 ,06 0; dividends ( 7 % ) , $209,105; b a l., sur., $297 ,96 6,
transferred to extraord. expend, fund.— (V . 83, p. 1523.)
D E L A W A R E & B OU ND B RO OK R R .— Owns from Bound Brook
(Central of N . J.) to Delaware River, 27 miles: branches to Trenton, 7 m .;
second track, 27 m .; third track, 8 m .; all track, 87 m .
In May 1879 leased
for 990 years to Phila. & Reading R R .
Rental, $213,000, paying int. and
8 % on stock; lease assumed b y Phila. & Reading R y .— (V . 81, p. 210.)
D E L A W A R E & EA ST ER N R Y .— T o extend from Hancock, N . Y . , on
Erie R R ., to Schenectady, N . Y . , 157 miles, with branch to Andes, 9 miles,
of which East Branch to Arkville, 40 m iles, operated April 1907. A con
solidation May 1907 per plan V . 84, p. 931, 1182.
Stock authorized,
$5 000,000 in $100 shares and bonds $ 6 ,000,000 of 50-year gold 5s. O f the
bonds $1,750,000 are to be used to take up the old bonds ($1,000,000) and
stock ($600,000) of Del. & East. R R . and refund its notes and floating debt;
balance to be used to complete the proposed road. Pres., F. F. Searing.
Office, 7 W all Street, New Y o rk .— (V . 85, p. 40, 921.)
D E L A W A R E & HUD SO N CO.— (See M a p .)— Operates railroad lines
from W llkesbarre, P a ., via A lba n y, N . Y . , to Rouse’s P oint, on Canada
line, with branches, 821 miles in all. V . 68. p . 8 71.
Lines owned—
M iles. | Lines leased— *See these cos. M ile s.
Lackawanna & Susquehanna...........22 ! ‘ Albany & Susquehanna__________142
Valley R R . of P a...................................17 l*N ew York & Canada____________ 150
Honesdale Branch--------------------------- 28 •Rensselaer & Saratoga_________ 192
Schenectady & Mechanicvllle____ 10 •Chateaugay & Lake Placid R R . 80
Cherry Val. Sharon.& Albany . . 2 1 •Union R R ............................................. 21
•Schenectady & Duanesburg---------14 •Jefferson R R . (trackage)_______ 35
•Adirondack R y -------------------------------57 Other lines_________________________ 28
•Cooperst’ n & Charlotte V alley— 24
Total operated Jan. 1 1907____ 843
Branches and spurs------------------------- 2
Also leases U tica Clinton & Binghamton and Rom e & Clinton R R ., 44 m .,
sub-let to N . Y . Ont & W est. In N ov. 1905 the Quebec Southern, extend
ing from St. Lam bert opposite Montreal, through Sorel to Pierrevllle and
from N oyan Jet. to St. Roberts' Jet. on the aforesaid line, a total of 145 m .,
was acquired; an extension will be built from Pierrevllle to Chaudiere J e t.,
whence the new Quebec bridge Is reached, a distance of 92 miles, of whioh
49 are under construction. The Napierville Jet. R y ., Rouse’s Point to S t.
Constant, 27 miles, was also acquired, and 16 miles of trackage. V . 81, p.
1610; V . 83, p. 379; V . 84, p. 338, 623.
In 1906 control of the Greenwich
& Johnsonville R R ., 21 miles, was acquired. V . 84, p. 623.
H I S T O R Y , & c.— This com pany was chartered April 23 1823. It Is one
of the largest miners of anthracite coal. Coal owned, V . 82, p. 686.
D I V ’ DS— j ’84. ’ 85. ’86. ’ 87. ’ 88. ’89 to 96. ’97 to ’00. ’01 to ’06. 1907.
Since 1883 % \
7
6
5
5
6 7 vearly 5 yearly 7 yearly Below
Dividends for 1907 fixed at 9 % , payable quarterly. V . 8 4 , p . 51.
G E N E R A L F I N A N C E S .— On M ay 9 1899 the stockholders voted to set
aside every year, as a sinking fund to retire stock and bonds and guaranteed
securities, an am ount equal to at least 5c. per ton of coal sold, or $175,000 to
$200,000 per annum , to be charged against Income account each year. (V .6 8 .
p. 926.) See Ordinance In full, V . 6 8 , p. 1180. Coal owned and controlled
Jan 1. 1907, 207,801,964 tons.
In 1900 $200,000 stock was retired from
proceeds of sinking fund, $141,800 in 1901, $151,100 in 1902, $100,000 in
1903, $417,100 in 1904, $50,000 In 1905 and $228,500 In 1906.
Stockholders May 9 1905 authorized Increase of $5,00 0 ,0 0 0 stock for con
version, at option of holders to April 1 1916, of $ 1 0 ,000 ,000 Albany & Susq
Bonds— Princi
pal. When D ue.
Stocks— Last
Dividend.
June 1 1912
M ay 1 1921
Oct 1 1907 2 %
Oct 1 1907 2 %
April 1 1925
Oct 1 1907 1
Oct 1 1907 2 %
Jan 1 1911
Dec 1 1909
July 1 1949
July 1 1907 4 %
July 1 1932
Feb 1 1912
Aug 2 0 1907 2 %
Au g 1 1955
Jan 1 1956
1957
Office. 32 Nassau S t, N Y S e p tl6 1907 2 H
do
do
Sept 1 1917
do
do
Sept 1 1924
Mar 1 1942
do
do
do
do
June 15 1916
1908 & 1909
do
do
1908 to 1914
do
do
New York
July 1 1922
Guaranty Trust Co, N Y
Phila & Chambersburg
do
do
do
do
Cincinnati
do
J P Morgan & Co, N Y
Am er Exch N at B k , N Y
Farmers L & Tr Co, N Y
Checks mailed.
Broad St Station, Phila
do
do
240 South Third S t, Phila
do
do
2.150.000
4
’0 1 - ’ 02
1,000
M & N
do
do
300.000
J
&
J
do
do
1,000
1890
4 g
J
&
J
do
do
1,000
1.300.000
1902
4 g
gay & Lake Pla cld R R , Utl ca Clinto n & B in g ;R R , Coop & Chari Valley
•50 26,200.000 See text
Q— J ! 90 W est Street, N . Y .
A ll.
185.000
Broad St Station, Phila
I860
3
J
A ll.
200.000
3
do
do
1874
|J
650,000
4
do
do
1,000
Philadelphia, Pa.
1.300.000
10 1896
F '
4 g
1,000 See text.
|M
New York or Denver
126 1902
4 g
D A L L A S C LE B U R N E & SO U TH W E STE R N R Y — Owns E gan, on M o.
K an . & Texas R R ., to Cleburne, 10 miles. Operated from D ec. 1 1902.
Extension proposed from Egan to D allas, 27 miles, and from Cleburne to
Glenrose, 50 miles. Leased to M o. K a n . & Texas R y . V . 76, p . 48.
Bonds authorized, $150,000 1st m ort. 30-year gold 5s, due Jan. 1 1933.
In A u g. 1906 the Texas R R . Commission authorized $145,000 bonds. V .
83, p. 213. Pres., B. P . M cDonald, Cleburne, T e x .— (V . 83, p. 213.)
49
M ay 1 1 9 0 8 -1 8
Jan 1 1940
Jan 1 1942
See those cos
Oct 21 ’07 2 34 %
Jan 1 1932
Jan 1 1932
Overdue.
Aug 1 1936
Sept 1 1952
3 ) 5 % bonds, dated April 1 1906, on the basis of $500 stock for $1,000 o f
bonds. The bonds were sold at par pro rata to D . & H . stockholders
to refund the Albany & Susq. 6s and 7s. effecting a material saving of int.
In 1906 the Albany & Susq. stockholders were held by lower Federal Court
to be entitled to the benefit of this refunding. V . 85, p. 721; V . 83, p. 1036^
V . 80, p. 1174, 1362, 2343.
To O ct. 1907 $3,37 6 ,0 0 0 bonds had been con
verted Into D . & H . stock.
Stockholders Feb. 19 1906 authorized Increase of the stock b y $7 ,0 0 0 ,0 0 0
to provide for exchange of an Issue of $ 1 4,000 ,000 of 4 % 10-year debentures
dated June 15 1906, which was subscribed b y stockholders at par. The
debentures are exchangeable for stock at the rate of $500 stock for $1,000
debentures between June 15 1907 and 1912 Inclusive, the proceeds to be
used as follows: Cost of electric railway acquisitions (see below ), $ 9 ,6 0 0 ,0 0 0 ;
new equipm ent, $ 2 ,400,000: cut-off around W ilkes-Barre, P a .. $ 2 ,0 0 0 ,0 0 0 .
V . 81, p. 1848; V . 82, p. 687.
In Feb. 1905 a half Interest in the stock of the Schenectady R y ., 116 m iles,
was purchased. V . 82, p . 687. In N ov. 1905 over 99 % of the $ 5 ,0 0 0 ,0 0 0
stock of the United Trac. Co. of Albany was purchased, said stock being in
Dec. 1906 increased to $12,500 ,000 to acquire most of the stock and bonds
of the Hudson Valley (Electric) R y. V . 81, p. 1550, 1610; V . 84, p . 51.
In July 1907 the Troy & New England R y . , 9 miles, was acquired in the
Interest of the com pany. V . 85, p. 98.
In Feb. 1907 a loan for $ 6 ,000,000 to the Quebec Montreal & Southern,
guaranteed by the D . & H ., was arranged, represented by 6 % participation
certificates (denominations $ 1 00 ,00 0, & c .), maturing Feb. 6 and 9 1908,
interest payable quarterly. V . 84, p. 338. The equipment lien 4J^s of
1907 ($10,000,000 issue) have an annual sinking fund of $650,000 to pur
chase bonds of the issue, other securities or additional equipm ent to come
under the mortgage. V . 84, p. 1247, 1307 .
E A R N I N G S .— Earnings of leased lines in New York State for 6 m onths:
6 M o s . ending
Interest,
Balance,
June 30—
Gross.
N et.
Taxes, &c
Surplus.
........................$6,77 9 ,6 8 3
$ 2 ,471,635
$ 1 ,4 3 3 ,6 8 6
$1,03 7 ,9 4 9
1907
1906
5,9 0 1 ,4 8 9
1 ,948,823
1 ,523,746
4 2 5,077
R E P O R T .— For 1906, In V .Annual
84, p. meeting
623.
M ay 1907.
V . 84, p. 1182.
Year ending Dec. 31—
1906.
Anthracite coal carried (tons)________
8,6 9 0 ,3 5 6
Earnings of railroads................................ $ 17,050 ,029
N et (railroads)............................................... 6,3 7 9 ,4 0 0
Interest, taxes and rentals____________
2,8 9 5 ,1 3 9
..
Total profits. ____________
Interest on debentures.
1905.
1904.
9 ,3 5 4 ,2 6 6
8 ,2 5 5 ,5 4 1
$16,382 ,074 $ 1 5 ,071 ,124
6,198,114
5 .875,843
3,0 1 6 ,3 2 8
2 ,999,957
$3,484,261
2,097,362
$3,181,786
2,525,957
$ 2 ,8 7 5 ,8 8 6
2,380,561
. . $5,581,623
$145,485
280,000
..
2,867,174
$ 5 ,707,743
$1,028,149
$ 5 ,256,447
$803,924
2,8 6 9 ,3 0 0
2 ,756,162
$1,810,294
.
$2,288,974
$1,696,361
The earnings of the coal department in 1906 w ere$ 1 9,619 ,206 ; expenses,
$ 1 7 ,521 ,844 ; net, $2,0 9 7 ,3 6 2 .
In 1905, $20 ,9 4 9 ,5 5 5 ; net, $ ^ ,5 2 5 ,9 5 8 .
O F F IC E R S .— Pres., L . F . Loree; Chairman E xec. C om m ., R . M . O ly
phant; Treas., C. A . W alker; Sec., F. M. O lyphant, 32 Nassau S t ., N . Y .
Managers.— Robert M. O lyphant, Chauncey M . Depew, John Jacob
Astor, L . F. Loree, W illiam S. Opdyke, J. Rogers Maxwell, Cornelius V a n
derbilt, R . Suydam Grant, George I. W ilber, C. A . Peabody, E . H . Harrim an, Dum ont Clarke and James A . Linen.— (V . 8 5 , p. 4 0 , 99, 1005.)
D E L A W A R E L A C K A W A N N A & W E S T E R N R R .— (See M a p .)— Oper
ates main line from Hoboken. N . J . , opposite N . Y . C ity, to Buffalo, N . Y .
410 m ., with branches to anthracite region, & c., 547 m ., v iz .: (*see this co:)
Lines owned—
M iles. \ Lines controlled and oper'd— M iles.
N . J. State line to New York line.1141 ’ Syracuse Binghamton & N . Y . _ 81
Branch to Northum berland____ ^ 80 Sussex R R _________________________ 31
Lines leased— (See each co.)
H o p a tc o n g ________________________
1
•Morris & Ecsex and leased bches.176 Bangor & Portland R y ___________ 38
•N. Y . Lackawanna & W e s te r n ..2 1 4 Lackawanna & Montrose R R ____ 11
•Cayuga & Susquehanna__________34
Hanover & Newport R R __________ 7
Greene R R ________________________
8 Erie & Central New Y o rk ________ 18
•Oswego & Syracuse_____________ 35
Syracuse & Baldwinsville R R ____
1
•Utica Chenango & Susquehanna 97
•Valley R R . of New Y o r k ________ 11
Total operated Jan. 1907_______ 957
H I S T O R Y , &c.— Original company chartered In 1832: present title as
sumed in 1853.
N o sub-companies (coal and mining) are controlled, the
railroad owning Its anthracite mines.
In April 1903 the entire stock of the
N. Y . & Hoboken Kerry Co. was purchased. V . 78, p. 815
New Hoboken
terminal was opened Feb. 1907. V . 81, p. 668, 777; V . 82, p. 1098.
In Aug. 1907 authority was obtained to purchase the $590 ,60 0 of the
$2,50 0 ,0 0 0 Syracuse Bingham ton & New Y o rk stock not already owned.
V . 85. p. 468.
D IV I D E N D S — \’ 81. ’8 2 t0 ’84. ’ 85. ’ 86tO’ 03. ’04. ’0 5 . ’ 0 6 .
1907
Since 1880, % ____ j 6 H 8 yearly. 7 H 7y e a rly . * 1 7 * 1 9 ) * *20 Incl. O c t ..10
•The quarterly dividend was Increased v nm 1 % to 2 > $ % in April 1905
an extra 1 0 % was paid In D ec. 1904, 1905 at d 1906.
E A R N I N G S .— O f leased lines in New Y o rk State:
6 mos. end. June 30—
Gross.
N et.
Charges.
1907
............................... $ 6 ,281,276
$3 ,2 8 3 ,8 6 8
$1,22 4 ,4 3 5
1906
........................ ............ 5,1 1 1 ,5 7 7
2,361,441
1,2 3 0 ,4 6 2
Bal., sur.
$2,05 9 ,4 3 3
1 ,130,979
A N N U A L R E P O R T .— Annual meeting is held on Tuesday preceding last
Friday in February. The report for 1906 was in V . 84, p. 445; see also
editorial, p. 421. The following includes all lines except Syrac. B in gb.&
N . Y . , Sussex R R ., Bangor & Portland and Lack. & Montrose R R .
RAILWAY STOCKS AND BONDS.
50
I N T E R E S T OR D I V I D E N D S .
R A IL R O A D S . '
For explanation of column headings, & c., see notes
on first page of tables.
Denver & Rio Grande— Stock common (see t e x t ). .T r
Preferred stock 5 % non-cumulative $ 5 0 ,0 0 0 .0 0 0 .Tr
First cons mortgage for $42,000,0001
now first m ortgage)_________ _____j g o l d .. Us.c* &r
Improvement mortgage ($5,000 per mile) g . Us.c* &r
R io Grande Southern first mortgage guaranteed.Ce
Rio Grande Junction first mortgage guar___.C e.c*
R io Grande Western 1st M gold (V 69, p 2 8 4 ) .Ce.c*
First cons M redeem at par (see text) gold .M o.c*
U tah Central 1st M guar. (V 68, p 724) gold, _ Mo
U tah Fuel Co 1st M $2,000,000 redeem at 1 1 0 .Mo
Pleasant Valley Coal 1st M s f redeem 115____ Mo
Equipm ent bonds Series A gold $75,000 due seml-an
do
do
Series B gold $75,000 due sem i-ann.
Denver Yellowstone & Pacific— 1st M 5 8 .750,000 gold
Des Moines & Fort Dodge— Common stock____________
Preferred stock 7 % non-cum ulatlve--------------------------First mortgage gold guar prin & Interest.. Ce.c* &r
Second M $1,000,000 gold redeemable at 1 05___ Ta
Des Moi Ia F & No— 1st M $14,000 p m gold red . Ta.c*
Des Moines Union— 1st M for $800,000 gold____ Ce.c*
Detroit Grand Haven & Milw— 1st equip M guar___ C*
Consol mortgage guaranteed (option— see t e x t ) ..c *
Detroit Hillsdale & S W — Stock 4 % rental L S & M S
Detroit Grand Rapids & W estern— See Pere Marquette
Detroit Lansing & Northern— See Pere Marquette R R .
Detroit & Mackinac— Pref stock $1,000,000 au th____
‘‘ First lien” $ 1 ,500,000 gold________
______Mo.c*
"M ortgage bonds” $1.750,000 gold red at par.M o c*
Detroit Toledo & Ironton— Common stock $12,500,000
First pref 4 % non-cum (pref as to assets) $7,500,000
Second preferred 5 % non-cumulatlve $ 5 .0 0 0 ,0 0 0 ..
Detrolt Southern— Ohio So D lv M ___ . . . ----------Ce
' General lien & division 1st M $ 4 ,253,000 g o ld _ .N .c *
! Consolidated mortgage $22,500 ,000 gold______K .c*
Notes for Ann Arbor redeem 102)4 yea rly-------- Usm
Equip trust notes gold (V 8 2 ,p 9 9 ) $207,000 y rly .T a
Detroit Southern car trusts due S40.000 yearly___
x Of which $1,677,000 In treasury: there are also $2
M iles
Date
of
of
Road. Bonds.
f 1,667
11,667
1.667
180
62
669
669
36
_
___
_
...
143
75
4
189
189
65
RR.
1886
1886
1888
1890
1889
1889
1899
1898
1901
1898
1903
1907
1906
1905
1906
1901
1887
1878
1878
-------
_
Size, or
Amount
Par
Value. Outstanding
950,000 5 In 1907 J
1,050,000
4 g
J
4 g
j
1,250,000
12,500.000
7.500,000
5.000,000
4,495,000
4 g
M
263 1901
All.
1905
4.253,000
4 g
iJ
1905
2.776.400
Text.
4 H fF
5
J
1905
5,500,000
1,656.000
4K gJ
1 9 0 5 /f
240,000
4 Vi g A
233 00 0 not g uarantee d. v Of wh Ich $260, 000
A IL '
All.
1895
1895
_ __
__
_
...
_
_
100
1,000
1 000
100
100
100
1,000
1,000
1.000
1,000
1 -000
•Gross..............................................................$32,962,879 $31,951,064
Net after taxes_________________________ $12,490 ,438 $13,123,004
Coal department (n et)________________ * 3 ,655,119
*3,295,426
Other miscellaneous income___________
844,255
643,537
$28,701,991
$12,049,217
*3,445,477
696,725
Total net incom e..................................... $16,989 ,812 $17,061 ,967 $16,191 ,419
Interest and rentals___________________ $5,368,196
$5,339,407 $5,324,596
242,926
196.644
646,233
R entals, advances, & c___________ . . . .
Renewals and betterm ents____________
5 ,551,619
3 ,587,486
3,446,719
(10 % ) 2 ,6 2 0 ,000 (1 0)2 ,62 0,00 0(7) 1,834,000
D iv id e n d s .......................................
E xtra dividend ( 1 0 % ) ..............................
2,620,000
2,620,000
2 ,620,000
$ 2 ,6 9 8 ,4 2 9
$ 2 ,3 1 9 ,8 7 1
* Earnings of the coal department In 1 9 0 6 , $ 3 8 ,5 6 4 ,1 7 1 ; expenses, $ 3 4 ,9 0 9 ,0 5 2 ; net, $ 3 ,6 5 5 ,1 1 9 ; 1 9 0 5 , $ 4 1 ,2 2 6 ,6 4 7 ; expenses, $ 3 7 ,0 3 1 ,2 2 2 ; net,
$ 3 ,2 9 5 ,4 2 5 ; 1 9 0 4 , earnings, $ 3 8 ,5 9 3 ,9 9 8 ; net, $ 3 ,4 4 5 ,4 7 7 .
O F F IC E R S .— Pres., W . H . Truesdale; Chairman of Board, Samuel
Sloan; Sec. and Treas., Fred F. Chambers, 90 W est S t ., N . Y .
B O A R D .— Samuel Sloan (Chairman), Fredk. W . Vanderbilt. W m . H .
Moore, Eugene Higgins, Henry A . C. T aylor, J. Rogers Maxwell, Geo. F.
Baker. W m . Rockefeller, H am ilton M cK . T w om bly, James Stillm an, M .
Taylor Pyne, Harris C. Fahnestock, Frank W ork , John D. Rockefeller Jr.—
<V. 8 4 , p. 4 45, 4 4 9 , 9 3 1 ; V . 8 4 , p. 1 1 1 3 , 1 5 5 1 ; V . 8 5 , p. 4 6 8 .)
D E L A W A R E M A R Y L A N D & V IR G IN IA R R .— Owns from Harrington
to Franklin City, V a ., 7 8 miles; Georgetown to Rehoboth, D ei., 19 miles;
total, 97 miles. Controlled by Phlla. B ait. & W a s h ., which owns $ 3 2 6 ,2 0 0
o f the $ 5 2 6 ,7 5 8 stock (par $ 2 5 ) , and so by Penn. R R .
See V . 5 0 , p. 4 9 8 .
In year ending Dec. 31 1 9 0 6 . gross, $ 3 1 4 ,0 3 8 ; net,Incl. other Income, $ 3 7 ,5 3 1 ; interest, taxes, & c., $ 5 0 ,7 0 9 ; balance, deficit for year, $ 1 3 ,1 7 8 — but
this does not include Interest on floating debt (of $ 7 3 1 ,8 9 0 D ec. 31 1 9 0 5 ) .
D E L A W A R E R IV E R R R . & B R ID G E CO.— Owns a bridge over the
Delaware River near Philadelphia and about 10 miles of connecting railroad.
Capital stock ($1,300,000) Is all owned by the Pennsylvania R R ., which
guarantees bonds, principal and Interest, by endorsement. Dividends:
Dec. 1900 to June 1906, incl., 4 % yearly (2 J. & D .) ; Dec. 1906, 3 % ; 1907,
June, 3 % .
Sinking fund, 1 % ; bonds cannot be called.
Guaranty, V . 63,
p. 1062; 1159; V . 83, p. 1524.
DENISON B ONH AM & N E W O R L E A N S R Y .— Bonham Jet. to Bon
ham , T e x ., 24 miles.
Operated since completion. Dec. 1 1901, by the Mo.
Kans. & Tex. under a 10-yr. contract.
In M ay 1907 extension fiom R a
venna to Gilmer, T e x ., about 150 miles, was proposed, bids being asked on
first 20 miles. Stock, $50,000.
In N ov. 1905 permission was given to
register $325,000 30-year gold bonds; none outstanding Sept. 1906.
V . 76,
p . 381; V . 81, p. 1610.
Pres., E d . D . Steger; Sec., John W . R u ssell.—
(V . 77, p. 823; V . 8 1 . p. 1610.)
D EN VE R & IN TER M O U N TA IN R Y .— Embraces 22 miles steam
Denver to Ralston, and 5 trolley, Denver to Barnum.
Stock, $ 5 1 4 ,3 0 0 ;
par $ 1 0 0 .
For 1 9 0 4 -0 5 , gross. $ 3 3 ,6 7 9 ; net, $ 1 2 ,4 4 7 .
Pres., Samuel
Xewhouse; T reas., F. W . Loveland: Sec.. W m . Morrison.— (V . 8 3 , p. 3 6 .
D EN V E R N O R TH W ESTE R N & PACIFIC R Y .— Building from Denver to
Salt Lake, about 575 m .. along a line about 100 m . south of the Union Pac.
and 125 m . north of the Denver & Rio Grande.
In 1905 113 miles, Denver
to Sulphur Springs, C o l., were opened.
Extension from Sulphur Springs to
Krem m llng, 18 m ., was completed June 1906, grading being In progress
from Kremmling to Steamboat Springs, 88 miles, the last-named point
being 364 miles from Salt Lake. See V . 75, p. 289; V . 78, p. 1108; V . 80,
p. 1362.
N . W . Terminal R R . proposed.
V . 7 9 , p. 1704; V . 81, p. 1315;
V . 8 2 . p. 1211.
In June 1905 a syndicate headed by W m . L. Bull of New
York agreed to finance the road. V . 8 1 , p. 155; V . 8 2 , p. 627.
incorporated In July 1902 with 5 2 0 ,0 0 0 ,0 0 0 authorized stock, of which
$ 1 0 ,0 0 0 ,0 0 0 pref. 5 % non-cura., all to be issued for construction, together
with $20,000,000 Of the $22,500 ,000 4 % bonds. V . 75 p. 1147: V . 7 9 , p. 102
Outstanding June 30 1907, $ 2 0 0 ,0 0 0 each of common and preferred stock
and $ 1 ,000,000 bonds. Pres., David H . Moffat; Vlce-P res., W . G Evans;
Treas.. Thos. K eely; Sec., F. B. Gibson.
Directors, Jan. 1 9 0 6 , V . 82, p.
4 9 . — (V . 8 2 , p. 49, 6 2 7 , 1 2 1 1 .)
D EN VE R & RIO G R A N D E R R .— (See M a p .) — R O A D .— The lines
owned and controlled are well shown on the adjoining m ap.
M iles. I
M iles.
Of the preceding:
Road owned and operated______2,482
Rio Gr. Jc. R R , &c (le a s e d )..
70! Standard gauge...............................1 ,7 5 7
----------! Narrow gauge only______________
795
Total June 30 1907....................2,552 I 2d track and 3d rail........................ 283
Rio Grand* & Southwestern R R .. Lumberton .Station, C ol.. 33 m. south
easterly, Is operated on basis of 2 5 % of gross earns. V . 7 9 , p. 9 0 7 .
Two
branches, 28 miles, completed during 1 9 0 6 -0 7 .
V . 8 5 , p. 6 6 5 .
In Oct. 1 9 0 7 the Rio Grande Western acquired all the stock and bonds
o f San Pete Valley R R ., Nephi, U tah, to Morrison, 51 miles, with 5 mile
branch. V . 8 5 . p. 8 6 4 .
H IS T O R Y .— Reorganization of a railway company of same name fore
closed July 12 1886. The Rio Grande Junction Is leased jointly by this co.
and the Colorado Midland, and Its honds guaranteed The Col. Midland Is
controlled by parties Interested severally In the D . & K. G. and Colorado
A Southern.
V . 70. p. 739. The Rio Grande Southern Is controlled.
The Missouri Pacific early In I9(i| acquired S I4 .800,000 common and
* 7 . 3 0 0 .0 0 0 preferred stock, this* together with the Rockefeller Interests, it
Is understood, constituting a considerable m ajorly of the entire stock.
V . 72. p. 338, 5 80, 1238: V. 7 3 . p. 506.
D. & R. G. and Rio Gr. W est, own two-thirds of the stock and have given
a traffic guaranty to the Western Pacific R y. (which sec), building from
Salt Lake City to San Francisco. V . 8 1 , p. 8 4 5 ; V . 8 3 , p. 5 6 8 .
When
Payable.
Where Payable, and by
Whom
____ _
1904.
$5,215,919
2 1 ,568,693
1,917,379
$ 5 8 7 ,0 7 1
Rate
%
$100 $ 38,000,000
100 45,761,400 5 In 1907 J
& J Office, 195 B ’w ay, N Y
500 &c 33,517.000
& J Fourth N at Bank. N Y
4 g
,J
do
do
-1,000
6,382.500
& J
4 « fJ
500
8.335.000
do
do
5 g
J
& D
1.000 x 2 .277.000
& J Maitland, Coppell, N Y
4 g
J
do
do
1 ,000
2,000,000
& D
5 g
J
1,000 &c 15.200,000
& J Morton Trust Co. N Y
4 g
J
do
do
1 ,000 &<: 14.482.400
4 g
A & O
y 6 5 0 ,000
4 g
A & O
do
do
1 ,000
1 ,000
do
do
771.000
5 g
M & S
1,000
do
do
1,0 *4 ,0 0 0
& J
5 g
J
825.000
1,000
4 Vi g M & N Blair & Co, New York
do
do
1.500.000
5 g
M & S
1.000 (V .82,p280)
5 g
J
&
J lnternat Tr Co. Boston
100
4,2x3,100
100
763,500 5 In 1907 August 25 Broad Street, N Y
1,000
3 ,072,000
4 g
J
& J Central Trust Co, N Y
. ...
1,000
600,000
5 g
A & O
1.000
1,000,000
5 g
J
& J Trust Co. of A m e r., N Y
1,000
671.000
5 g
M & N Central Trust Co, N Y
1 000
2,000,000
6
A & OiNew York and London
200 &c
6
A & O
do
do
3,200,000
100
1,350,000
4
J
& J Farmers L & T Co, N Y
1905.
$5 ,529,002
23 ,224.372
3,197,690
Year ending Dec. 31—
1906.
Passenger earnings____________________ $6,216,624
Freight earn ings_______ _______________ 23,245,274
Miscellaneous___________________________
3,500,981
B a l., sur., after dividends.
[V ol.
911 ’ 92. ’ 9
on preferred, %
0
&
&
&
_
lxxxv.
Bonds— P rinci
pal, When D ue
Stocks— Last
Dividend.
July 15’ 07 2 >4 %
Jan 1 1936
Jan 1 1936
June 1 1928
July 1 1940
Dec 1 1939
July 1 1939
April 1 1949
Jau 1 1918
Mar 1 1931
July 1 1928
M ay'08-M ay ’ 13
Mch ‘0 8 -Sep '17
Jan 1 1936
Auff 1 1907 5 %
Jau 1 1935
April 1 1935
July 1 1931
Nov 1 1917
Nov 14 1918
Nov 15 1918
July 5 1907 2 %
J H K M cH arg, New York July 1'07 2 Vi %
D J P Morgan & Co, N Y June 1 1995
June 1 1995
do
do
D
& S H B Hollins &
do
& D
do
& A
& D U S Mort & T r
& D H B Hollins &
& O Merc Tr & Dep
in tre asurv.
0
0
2
Co.
do
do
Co.
Co.
Co,
2K
N Y Mar 1 1941
Dec 1 1955
Aug 1 1980
N Y •June-Dec, 1908
\ Y To June 1915
Balt To Oct 1 1912
4
5 yearly
S T O C K .— During 1901-02 pref. stock was Increased from $23 ,650,000 to
$4 4 ,400 ,000 , to acquire the Rio Grande Western stock
V . 7 2 . p. 775.
In
Dec 1905 $1,312,700 pref. stock Issued to acquire Rio Grande Southern
stock, and for improvements, and in Mch. 1907 $48,700 was listed, raising
the amount outstanding to $ 4 5,761 ,400 . V . 84, p. 507.
B O N D S .— Consols of 1886 for $6,900,000 originally reserved for exten
sion to Ogden were available for capital requirements, of which part issued.
V . 73. p . 507.
See abstract of mortgage In V. 47, p. 2 2 8 .
The improvement mortgage abstract was In "Chronicle,” V . 4 7 , p. 229.
Abstract of R . G. W . 1st mort. was In V . 4 9 , p. 237, and statement to
N. Y . Stock Exchange. V . 50, p. 73; also V . 69, p. 284.
Utah Fuel 1st 5s
of 1931, see application to list, V . 78, p. 1171, 1178, 1548. 2015.
The Rto G. W . first consol. 4s of 1899 are secured by a first m ort., either
directly or by all their securities, on 219 m. of branch lines, and further by
a second lien on 438 m. of main line and other road, and on all new mileage
to be constructed and rolling stock purchased; also by a first lien on the en
tire $10,000,000 stock of the Utah Fuel Co; $15,200,000 are reserved to
retire 1st M. 4s of 1939 and additional amounts m ay be Issued at $ 20,000
per m . for future branches and extensions or for underlying liens of acquired
roads. See application to list In full. V . 7 2 , p. 537. V . 7 2 , d. 7 7 5 , 1 189.
List of collateral June 30 1907, V . 85. p. 667.
Suit as to old bonds, V . 84, p. 1052.
L A T E S T E A R N IN G S .— From J u ly 1 to Aug. 31, 2 m onth '.
2 Months—
Gross.
Net.
Oth. Inc.
Charges.
$1,472,491
$64,121
$635,897
1907____________ $4,147,599
19 0 6 _____ ______
3 .434,087
1,198,007
82,484
581.270
Bal., sur.
$900,715
699,221
A N N U A L R E P O R T .— Full report for 1906-07 In V . 8 5 . p. 6 51, 6 65. In
cluding the Rio Grande Western. See p. 629.
Year end. June 30—
1907.
1906.
1905.
1904.
Average miles operated2 ,500
2,477
2,420
2,398
Gross earnings___________ $ 21,409 ,042 $19,686 ,115 517,031 ,507 $16,446 ,434
Net earnings____________
8,1 5 6 ,9 3 0
7,5 8 1 ,9 4 3
6.862,547
0.387,991
O th e rin c o m e ....................
243,379
262,124
192.133
214,345
Total net Income______$ 8 ,400,309
Interest on bonds_______ $3,210,584
Taxes and Insurance____
758,908
Betterments, &c________
1 ,525,000
374,020
M iscellaneous___________
D lv. on pref. stock, 5 % .
2,286,853
$7,844,067
$3,191,907
737.502
1,150,000
322,185
2,285,635
$7,054,680
$3,182,573
761,038
283,915
298,617
2 ,250,000
56 ,6 0 2 .3 3 6
$3 ,170,802
671,470
30 5", 6 5 !
2.220,000
Balance, surplus...........
$244,944
$156,839
$278,537
$234,413
O F F IC E R S .— Chairman of Board, George J. Gould: Pres.. E . T . Jeffery:
Vice-Pres., Chas. H . Schlacks; Treas., J. W . Gilluly; Sec. and C om p t.,
Stephen Little.
Office, 195 Broadway. N . Y .
Directors— George J. Gould, Winslow S. Pierce, E . T . Jeffery, Edwin
Gould, Howard Gould. A . H. Calef and Arthur Coppell, New York; Charles
H . Schlacks and Joel F. Valle. Denver, C ol.— (V . 85, p. 864, 9 2 1 .
DES M OINES & FORT DODGE R R .— (See M a p M inneapolis * St
Louis.) — Owns Des Moines to Ft. Dodge. Ia ., 88 m ., and Tara to R uthven,
55 m .; trackage. Illinois Cfentral, Tara to Ft. Dodge Jet., 6 m .. included
above.
On March 1 1904 Minneapolis & St. Louis acaulred $2 ,5 3 0 ,0 0 0 of
the outstanding $4,283,100 com . stock, and guarantees the $3,072,000 first
mortgage 4 % gold bonds issued to retire all the outstanding bonds which m a
tured Jan. 1 1905; the Minn. & St. Louis leases the road for 30 years from
Jan. 1 1905; all Income over charges. Improvements. <3cc.. to be paid to
lessor. V . 7 9 , p. 268. 1704, 2085.
Form of guaranty, V 79. p. 2696.
Preferred stock Is entitled to 7 % , non-cum ulatlve. then common to 7 %
after which both share equally.
The stockholders June 8 1906 authorized $ 1 ,000,000 second mortgage
bonds, of which $600,000 was used to pay floating debt Incurred for Im
provem ents and refunding, the common stock being raised from 54.283.100
to $ 5 ,335,600 and the preferred from $763,500 to $1,164,000 to make this
possible. V . 82, p. 1322.
D IV I D E N D S .—
I ’ 9 3 . *94. ’ 9 5 . ’ 96 t o '9 8 . ’ 99 to ’03. ’04 to ’0 7 .
On preferred............. % J
2
4
4
6 y ’rly.
7 y ’ rly.
5 yearly.
Pres.. Edwin Hawley; Vtce-Pres., L. F. D ay; Treas.. F. H. Davis: S e c..
W . S. Crandell. Report for year ending Dec. 31 1906 in V . S4, p. 1548.
showed gross earnings, $627,528; net. $264,604; taxes and Interest. $173 ,69 2:
dividends ( 5 % ) , $38,175 ; surplus, $ 5 2 ,7 3 7 .— (\ . 84 p 1*88, I 5 48t.
DES MOINES IO W A F A L L S & NORTHERN R Y .— Iowa Falls. Ia. to
Des Moines. 75 m .; completed Aug. 1 9 0 3 .
In Dec. 1905 W m . A. Bradford
Jr of New York acquired control.
V . 81, p. 1723.
The St. Paul & Des
Moines R R . (which see), owned by the same Interests, is building a road
from Iowa Falls to Mason City. 45 miles, of which 17 completed In July 19(»7;
balance to be In 1907.
V . 85. p. 160; V . 81. p. 17.-3.
Stock authorized, $1,2 0 0 ,0 0 0 : outstanding, 5881,400 June 30 1906; par
of shares. $100 each.
Bonds are *'ihject to call at 105 on and after July
1 1906- they are limited to * 1 4 onn pc«- mile, with $ 5 0 .0 0 0 addlt'^nnl to'
Des Moines term inals.
The St. Paul & Des Moines in 1907 made a mortgage
to secure an Issue of bonds.
For the year ending June 3-) 1»07, gross.
$228 607; net, $88,317 : interest, taxes, A c ., $6«,6 4 4 : bal. sur.. $19,673 .
Pres.. W . A . Bradford, Jr.; Sec. and Treas., G. A. W . D odge.— V . 85, p. 160.)
DES MOINES UNION RY — Terminal road In Des Moines; owns 4 miles
main track and branches. 14 miles 2d and side tracks, bridge across Des
Moines River and 25 acres of land In Des Moines. See statem ent to H . Y .
Stock Exchange In V . 65. p. 1173.
Leased to W abash R R .. Chicago Great
W estern, Chic. Mllw. & St. P. R y .. Chic. Burl. & Quincy R R .. Des Moines
Iowa Falls & Nor'n R y . and Minneapolis & St. Louis R R . V . , ■>. p. 342.
Rental equal to expenses and fixed charges paid monthly by iesseffl on
wheelage basis. Stock au th ., $2,0 0 0 ,0 0 0 ; o u t.. $ 4 0 0 .0 0 '!: ra * ljw . Year
1 9 0 6 - 0 7 , gross, $339 ,67 6; net. $123 ,31 2: charges, $ 59,446 .
l .< > ,p 342.)
O c t .. 1907.1
RAILWAY STOCKS AND BONDS.
M AP OF THE
DELAWARE & HUDSON
RAILROAD SYSTEM.
51
RAILWAY STOCKS AND BONDS.
[V o l.
lxxxv
.
i
R A IL R O A D S . '
For explanation of column headings, A c ., see notes
on first page of tables.
M iles
Date
of
of
Road. Bonds.
Det & Tol Sh L— 1st M $3 ,0 0 0 ,0 0 0 g gu p & l.M e .c * &r
48 1903
___
___
Dover St Rocka way— Stock 6 % rental 999 years____
Dub & Sioux City— 111 Cent W lines 1st M g__ U s.c*& r
218 ! 895
Iowa Falls & Sioux City 1st M Iowa Falls to SiouxCy
184 1869
Cher & Dak C R & C and Omaha D lv etc 1st M
328 •88-’00
Duluth & Iron Range— First m ortgage_______ M p.c&r
210 1887
Second M currency redeem at 105 $ 5 ,0 0 0 ,0 0 0 --C e .c *
210 1896
Duluth Missabe & Northern— First mortgage gold S 1
65 1892
First consol M $3,50 0 ,0 0 0 gold call at 1 05_______ Ce
130 1893
General M g o l d ____ ______ ______________________ . N
215 1906
Dul R L&VVln— ls tM $ 2 ,0 0 0 ,0 0 0 g red 105 beg’ l l . I C . c *
1906
Duluth So Sh & Atlantic— Marq H & On gen M .C e.c*
156 1885
Duluth South Shore & Atlantic 1st M gold.C e.c& r
416 1887
First consol mortgage gold Interest g u a r.C e.c’ &r
572 1890
Income certs ($3,000,000 held by Can Pac July 06)
1892
...
Car trusts guar by Can Pac, due m o n th ly ___________
1906
—
do
do
guar by Can Pac (due $17,000 yrly)
1907
Dur & So Car— 1st M $300,000 gold red 105___ MeBa
’ 30 1905
Durham Union Station—-1st M $ 75,000 g _____ S c ' i r
1905
—Dutchess County RR— See Central New England R y .
_ _
East Mahanoy RR— S tock_____________________________
East Pennsylvania— Stock 6 % guar 999 yrs Phlla & R
36
36 1888
First M gold guar p & 1 by P & R R R (e n d )-.c *
East Tennessee Virginia & Georgia— See Southern R y.
34 1905
E a stT en n & W No Car— 1st M g ( V .8 i ,p .1723 ). GuP.c*
Eastern Ry of Minnesota— See Great Northern_______
El Paso & Northeastern— N M R y & Coal M gold . .T a
1901
N M R y & Coal coll trust gold redeemable at 1 0 5 . . N
165 1897
A lam & Sac Mt first M $900 ,00 0 gold guaranteed. . N
31 1898
128 1901
El Paso & Rock Isl first M $ 2 ,500,000 g o l d .. Ta.c*
Dawson R y & Coal coll trust gold guar p & 1 - . Ta.c*
133 1901
1905
EI Paso Union Pass Depot— 1st M g $240,000 S f . .T a
Elgin Joliet & Eastern— First M ($10,000,000) g-C e c*
181 1891
34 1884
Elmira & Lake Ont— Sodus Bay & So— 1st M g .U n .c
75 a
Elmira & W illiamsport— Stock com m on 5 % rental N C
75X
Preferred stock 7 % rental 999 years Northern Cent
75X
I860
First m o rtg a g e.______ _ _______________________________
18 63
Income bonds 9 9 9 years to run_____________________ c*
Includes (a) $ 2 0 8 ,0 0 0 .
(b ) $ 5 0 ,0 0 0 In treasury o f 'E l Paso&
Size, or
Par
Value.
$1,000
100
1,000
500 &c
-- 1,000 &c
1,000 &c
1,000
1,000
1,000
1.000
1,000
1,000
__
10 0 &c
1,000
1,000 &c
__
50
50
1,000
1,000
_____
$1,000
1,000
1,000
1,000
1,000
1,000
1>000
50
50
1,000
500
D ETRO IT M A C K IN A C & M ARQ UETTE R Y .— S E E M ISC . COS.
DETROIT & M A C K IN A C R Y .— Owns from Bay C ity, M ich., to Cheboy
gan, 195 m .; Rose City Branch, 32 m .; Prescott Branch, 12 m .; Lincoln
Branch, 14 m .; Au Gres Branch, 8 m .; various logging branches (largely
tem porary), 83 m .; total, 344 m .
Extension north from Tower to Cheboy
gan 22 m , was completed in July 1904. and to be continued to M ackinaw,
23 miles further.
Extension from Alpena to A tlan ta , 36 miles, was under
construction July 1907.
In 1 9 0 6 -0 / carried 1 ,478,450 tons, of which
forest products furnished 4 7 .5 5 % .
In 1902 Henry K . M cH arg and asso
ciates acquired control.
B O N D S .— "M ortgage bonds” for $500,000 were reserved for betterments
A c ., at not over $50,000 per year. V . 7 4 , p. 629. In addition to the
amounts shown above as outstanding, $450,000 “ first lien” and $250,000
“ mortgage” bonds were on June 30 1907 held In the treasury.
Equipment
notes (os), $ -4 0 ,0 0 0 , due $6,667 monthly to July 1910 inclusive; loans and
bills payable June 3 0 ’1907, $ 2 40 ,82 7.
S T O C K — The capital stock Is $ 3 ,0 0 0 ,0 0 0 , of which $ 2 ,000,000 common
and $1,00 0 ,0 0 0 5 % non-cum. preferred. See V . 7 4 , p. 629. D lv . on pref.,
2 34 % , July 1 1903; since to July 1907, 5 % yearly.
L A T E S T E A R N IN G S .— 1 1 9 0 6-0 7 ____ Gross, $1,3 1 1 ,2 7 3 ; net, $219,921
12 m os. July 1 to June 30. (1 9 0 5 -0 6 ____ Gross
1 154 826' net
203 154
E A R N I N G S .— Report for year ending June 30 1906 was In V . 83, p. 1168.
In 1906 0 7 , gross, $ 1 ,3 1 1 ,2 7 5 : net, $ 2 la ,9 2 1 ; int. taxes, & c., $167 ,18 7;
pref. dlv. (5 % ) $47,500 ; b a l., su r., $ 5 ,2 3 3 .— (V 83, p. 969. 1 1 6 8 ; V 85
p. 1005 )
D ET R O IT R IV E R T U N N E L C O — See Michigan Central.
D ETRO IT TOLEDO & IRONTON R Y .— (See M a p .) — Operates from D e
troit, M ich., to Ironton, via Lim a, 381 m ., Including 43 m . of trackage;
branches, Kingman to Sedalia, O ., 31 m .; Jackson to Cornelia, 20 m ., and
Llsman Jet. to D ean, O ., 3m .; total, 435 m .; coal mine tracks, yard tracks
and sidings, 121 m . Outlet for bituminous coal of Southern Ohio.
In
June 1905 acquired control of An n Arbor R R .
V . 81, p. 264; V . 82, p. 509.
O R G A N I Z A T I O N .— Incorporated M ay 1905 as successor, per plan V .
80, p. 650, of Detroit Southern R R , foreclosed, subject to Ohio Southern
Division mortgage. V . 8 0 , p. 2344, 1856.
S T O C K .— Common stock representing control (par $ 1 0 0 )____ $ 1 2,500 ,000
1st pref. 4 % n o n -cu m ., with preference also as to assets and con
7 ,500,000
vertible at option of holders Into 2d preferred--------------------------2d preferred 5 % non-cum ulatlve (par $ 1 0 0 )_______________________
5,0 0 0 ,0 0 0
B O N D S .— Gen. lien and dlvis. 1st 4s are secured by mort. on entire sys
tem . Including future property, except Toledo terminal.
The consol. 4
cover the whole system and are also a first lien upon the
stock of the Toledo Southern R R . and all additional mileage constructed
or acquired by means of bonds other than the $ 2 ,675,000 first issue.
The $22,500 ,000 consols were Issuable as follows:
Reserved to retire Ohio Southern Division bonds--------------------------- $4,500,000
do
do
general lien and divisional 1st M . 4s— ________ 4 ,253,000
do
do
car trust notes___________________________________
320,000
Issued for assessment and to syndicate for cash------------------------------- 2,675,000
Reserved for corp. purposes at not exceeding $750,000 yearly------- 2 ,500,000
Reserved especially for extensions, terminals at Toledo or else
where, Ohio River bridge or bridges Improvements, & c----------- 8 ,252,000
The 5 % notes of 1905 ($5,500,000 present Issue) are secured by $3,001,000
Ann Arbor preferred and $ 2 ,190,000 com m on stock and $5 ,0 0 0 ,0 0 0 D et. T .
& I . consols. A further $ 1 ,500,000 m ay be Issued to acquire remaining
A nn Arbor stock. V . 8 0 , p. 2457, 2620; V . 8 1 , p. 155.
R E P O R T .— For year ending June 30 1906 In V . 83, p, 1034:
Entire System (.including A n n Arbor.)
Year.
Gross.
Net.
Oth. Income. Int. Ataxes. Balance.
1906-07
$ 4 ,298,925
$1,32 0 ,3 2 0
$29,137
$ 1 ,343,638
$5,820
1905-06 ................. 4 ,1 1 8 ,8 0 9
1,343,181
34,262
1 ,217,679
159,763
Detroit Toledo & Ironton Proper.
1906-07
$2,116,407
$553,462
$ 1,553
$926 ,63 8 T d ef. $371 ,62 3
1905-06
1 ,943,577
559,630
5,9 9 7
836,568 def. 270,941
Interest charge In 1905-06 includes $275,000 Interest on collateral trust
notes Issued for Ann Arbor stock. See V . 8 3 , p. 1034.
P res., Eugene Zim m erm an; Sec. and T reas., G. Caspar N iles. Office,
D etroit.— (V . 83, p. 1170; V . 84, p. 569; V . 85, p. 722.)
D ETRO IT & TO LED O SHORE LIN E R R .— Extends from Toledo to
(suburbs of) Detroit, 47.6 m .; 2d track, 20 m .; sidings, 3 m .; trackage over
Toledo R y. & Terminal C o., & c., 31 m .; total track, 101.6 miles; laid with
80-lb. steel rail. See V . 7 8 , p. 2598.
.
The Grand Trunk Western R y. and the Toledo St. Louis & W estern I?R.
own the entire stock and Jointly guarantee the bonds, principal andjlnterest,
by endorsement. See form of guaranty, V . 7 6 , p. 653. The unissued bond*
are reserved for extensions and Improvements.
Year ending June 30 1907,
gross, $810 ,26 7; net, $190,301; Interest on bonds (less Int. on bank balances),
$ 89,026 ; bal., sur.. $101 ,27 5.
Pres., T . P. S h o n t s — (V . 78, p. 2598.)
D U B U Q U E & SIO U X C IT Y R R .— (See M a p of Illinois Central.)— Owns
D ubuque, Iow a, to Iowa Falls, 143 miles; Iowa Falls to Sioux C ity, 184 m .;
Rate
%
When I Where Payable, and by
Payable. I
Whom.
$2,288,000
J
&
4 g
140,000
6
A &
5 ,425,000
F &
4 g
2.800,000
7
A &
8,930,000 Illinois C entral
6 ,732,000
A &
5
6
See tex t.
J
&
J
1,174,000
&
6 g
1 275,000
J
&
6 g
5,543,000
J
&
5 g
2,000,000
&
J
5 g
1,077,000
6
A &
3,816,000
J
&
5 g
15,107,000
F &
4 g
3 ,000.000
4
130,032
J
&
4J*
J & D
5
172.000
300.000
J
&
5 g
54,000
M &
5 g
497,750
1,730,450
495,000
500,000
2,000,000
a 3 ,000,000
b372,000
2,500,000
3,000,000
240,000
8,500,000|
500,000
500.000i
500,000;
963,000
5 7 0 .0 0 0
Northea stern R y.
DETRO IT G R A N D H A V E N & M IL W A U K E E R Y .— (See M a p Grand
Trunk R y .) — Owns from Detroit to Grand Haven M ich., 189 miles. A re
organization of Sept. 1878. The principal and Interest on the bonds are
guaranteed by the Grand Trunk of Canada. Stock, $1 ,5 0 0 ,0 0 0 ; par, $ 5 0 .
Real estate bonds or mortgages, $226 ,00 0.
On D ec. 31 1906 sundry ou t
standing accts., $285 ,00 0. Grand Trunk of Canada owns entire stock.
E A R N I N G S .— 2 m os., 1 1 9 0 7 .......................Gross, $357 ,68 7; net, $78,351
July 1 to A u g. 31.
J 1906 ....................G r o s s ,
3 62,067 ; net, 136,261
For year ending Dec. 31 1906, gross, $1,7 3 9 ,2 1 2 ; net, $442 ,75 9; charges,
$360,991; b a l., sur., $81,768 .
For 1905, gross, $ 1 ,4 8 0 ,9 0 3 .— (V . 8 2 , p .986.
D ETROIT H IL L S D A L E & SO U TH W ESTER N R R .— Owns YpsllantI,
M ich., to Bankers, M ich., 65 m . Leased In perpetuity July 1 1881 to the
Lake Shore & Mich. Southern R y .; rental, $54,000 per year— 4 % on stock.
I N T E R E S T OR D I V I D E N D S .
Amount
Outstanding
5
6
4 g
Bonds— P rinci
pal, When D ue*
Stocks— Last
Dividend.
J Mercantile T r , Co, N Y
Jan 1 1953
01143 Liberty S t, New York O ct 1907 3 %
A Office, 115 B ’way N Y
Aug <1 1951
O
do
do
Oct 1 1917
boinds or collateral therefor.
OiOfflce, Empire B ldg, N Y Oct 1 1937
Jan 1 1916
J|
do
do
J<.....................................
Jan 1 1922
J !Central Trust Co, N Y
Jan 1 1923
J. Com pany’s office, N . Y . Jan 1 1941
J Chase Nat B k, N Y ; & ChijJan 1 1 9 1 6
O 44 W all Street, New York April 1 1925
JI
do
do
Jan 1 1937
A New York or London
Aug 1 1990
Montreal, Quebec.
Dec 31 1912
J .................................................... T o Jan 1911
June 1 9 08 -19 17
1 5 - ____ - ........................
July 1 1935
J Merchants’ Tr Co. Balt
N S ta n d a rd Trust C o, N Y May 1 1955
;J & D 15 Reading Term , Phlla, Pa J u n el5’07 2 H %
& JjPhila & Read R y , Phlla July 15 ’07 3 %
J
M & S
do
do
Mar 1 1958
5 g
M
&
N Guar Tr & S D Co, Phlla N ov
5
5
5
5
5
5
5
5
5
7
6
A
A
A
J
J
J
M
J
M
j
J
A
&
&
&
&
&
&
&
&
&
&
&
&
0 Trust Co. of A m e r., N . Y . Oct 1 1951
Oct 1 1947
01
do
do
April 1 1928
O
do
do
Jan 1 1951
J:
do
do
J
do
do
July 1 1951
J
do
do
Jan 1 1916 -19 *6
N 71 Broadway New YorkiM ay 1 1941
J N at Bank of Com m , N Y July 1 1924
N Broad St Station, Phlla N ov 1907
July 1907
J
do
do
Jan 1 1 9 10
J
do
do
Oct 1 2862
Oi
do
do
5
g
g
g
g
g
g
g
g
1 1935
Manchester to Cedar R apids, 42 m .; Onawa, Iow a, to Sioux Falls D akota,
155 m .; Cedar Falls to Minnesota State Line (merged by consolidation In
1896 ), 76 m .; Tara Station, near F t. D odge, l a ., to Council Bluffs, 130 m .;
total owned, 730 m .
O R G A N I Z A T I O N .— Controlled since April 1887 by the Illinois Central
R R ., which owns all except a few hundred sha»es of the $15,000 ,000 stock
(as increased June 1900), and has Issued its own bonds on the road; the only
D . & S. C. bonds held by the public are the 7s iasj^ed under Iowa Falls &
Sioux City mortgage, $2,800 ,0 0 0 . Lease, V . 7 9 , p. iZ 74.
D IV I D E N D S S IN C E 1894 .— 1895, D ec., 1; ’ 96 3; ’ 3 7 , 2: ’ 98.
’9 9 , 3 ;
1 9 0 0 ,3 ; 1901, m ; 1902, Jan ., 1; 1906, June 30, 1
1907, June 30, 4 .
— (V . 70, p. 1290.)
D U L U T H & IRON R AN GE R R .— Owns Duluth to E ly . M in n ., 119 m iles,
with branches to Mesaba Range Mines, Fayal, &c , 65 m . Owns ore docks
and yards on Lake Superior costing over $1,500 ,0 0 0 .
ST O C K , & c.— Stock authorized, $10 ,0 0 0 ,0 0 0 ; outstanding $ 3 ,0 0 0 ,0 0 0 '
par $100.
Land grant from Minnesota about 506.000 acres, of which
201,790 acres had been patented to it prior to April 30 1895; V. 64, p. 1041.
Federal Steel Co. (see U. S. Steel Corp.) owns the stock and $ 3 ,500,000 oJ
the $ 4 ,500,000 2d mortgage bonds (V . 66, p. 1237.)
First m ort. bonds
authorized, $25,000 per mile for construction and $7,000 for equipm ent.
Dividends prior to 1900 aggregated 100 % ; In 1901-02. 6 % ; In 1903-04, from
accumulated sur.. 1 5 0 % ; In 1905 6 5 % . and June 1906 4 0 % . V . 7 9 , p. 2085.
Year endin? June 30 1906, gross, $7,7 5 7 ,6 3 6 ; net, $ 5 ,1 8 2 ,3 1 9 ; other In
com e, $135,729; charges, taxes and depreciation, $ 1 ,5 4 0 ,0 1 0 ; construction
and special dsprec’n, $1,850 ,2 2 0 ; b a l., sur., $ 1 ,9 2 7 ,8 1 8 .— (V . 7 9 , p . 2 085 .)
D U L U T H M ISSA BE & N ORTH ERN R Y .— Owns from Duluth to M oun
tain Iron, M inn., 77 miles; branch from Alborn northwesterly to Buckeye
Mine, 54 miles (opened Sept. 1906); other branches and spurs, 84 miles;
trackage to Union D epot, Duluth, 2 m .; total, 163 m . Entire $ 4 ,1 1 2 ,5 0 0
stock and $ 1 ,967,000 of bonds owned by Lake Superior Consol. Iron Mines
and so by United States Steel Corporation. V . 72, p. 1038.
O f the general 5s of 1906, $ 1 ,600,000 were Issued for part cost of Alborn
branch, 54 m iles, and $ 3 ,943,000 to retire the 2nd 5s, paid off July 1 1906;
of the issue, bonds are reserved to refund the 1st consols., balance for new
construction and equipment.
V . 82, p. 1101.
In 1903-04 paid dividend of 1 5 0 % from accumulated surplus and In Sept.
1905 7 0 % and June 1906 4 0 % .
V . 7 9 , p. 2085.
For year ending June 30
1907, gross, $ 1 0,981 ,894 ; net, $6,7 6 6 ,7 2 3 ; other Income, $137 ,18 9; charges
taxes and depreciation, $1,1 6 5 ,2 2 6 ; bal., sur., $5,738 ,6 8 6 .
In 1905-06.
gross, $8,368 ,4 8 9 ; net, $ 5 ,3 9 0 ,7 4 2 .— (V . 82, p. 1101; V . 84, p. 220.)
D U L U T H R A IN Y L A K E & W IN N IP E G R Y .— OpenedSept. 1 1907 fro m
Virginia, M inn., north to connection with Canadian Northern at Interna
tional Falls, 98 miles (with the exception of the bridge over the R ainy Lake
River at International Falls), giving that road access to Duluth and Two
Harbors at the head of the Great Lakes.
Stock, $ 2 ,0 0 0 ,0 0 0 , owned by the Virginia & Rainy Lake C o ., which guar
antees the Interest of the bonds. Sinking fund yearly, beginning March
1909, amounting to two-thirds of net earnings of preceding calendar year.
V . 81, p. 5 58, 613, 1848; V . 8 2 , p . 751; V . 83, p. 323; V . 84, p . 158. W ith
38 miles In full operation, earnings were:
f
L A T E S T E A R N I N G S .— For 6 m os.end ln gjune 30 1907. gross, $217,695;
net, $81,045 .
For year ending Dec. 31 1906, gross, $336 ,87 8; net, $136,261;
Interest on bonds, $68,024 ; balance, surplus, $ 6 8,237 .
Surplus over bond Int., $73,384 In 1906, against $31,243 In 1905.
P res., W irt H . Cook; Sec., D avid O. Anderson.— (V . 85, p. 599.)
D U L U T H SOUTH SHORE & A T L A N T IC R Y .— Operates Duluth to
Sault Ste. Marie, 415 miles; “ Soo” Junction to S t. Ignace, 43 miles; other,
135 miles: total, 593 miles, Including 10 miles of trackage.
C A P IT A L S T O C K .— Common stock Is $12 ,0 0 0 ,0 0 0 ; pref., $10,000 000:
par, both $100.
Pref. stock Is 6 % non-cum . Can. Pac. July 1 1907
owned $ 6 ,100,000 com . and $ 5 ,1 0 0 ,0 0 0 pref. stock, $3 ,0 0 0 ,0 0 0 Incomes
and $ 1 5 ,107 ,000 consols.
B O N D S . & c.— Abstract first mortgage, V . 4 5 , p. 274.
The first consolidated mortgage o f 1890 h as Interest at 4 % g u a ra n tee d
by Can. P a c., which July 1 1907 held the entire outstanding Issue ($ 1 5 ,1 0 7 ,000) In Its treasury as security for Its 4 % debenture stock; consols for $ 4 ,893.000 are reserved for prior bonds, and additional amounts m ay be Issued
at $20,000 per mile of new lines. Car trust 4 H s of 1906, V . 82, p. 452.
Due
Canadian Pacific R y
June 30 1907, for guaranteed Interest advances.
$4,1 9 3 ,6 7 5 ; on general account, $187 ,98 8; unguaranteed car trusts,
$236 ,21 3.
L A T E S T E A R N I N G S .— 1190 7............... .G ross, $663 ,05 1; net, $210,574
2 m o s., July 1 to A u g. 31. J1906---------------Gross, 587,435; net, 234,756
D ef. under charges, $36,533 ; against $62,842 In 1906.
R E P O R T .— Report for year ending June 30 1907 In V . 8 3 , p. 788.
O f the tonnage In 1906-07, ores furnished 4 0 % , lumber, & c., 2 8 % .
Year.—
Gross.
Net over taxes. Oth.Inc.
Interest.
Balance.
1906-07
$3,31 1 ,8 7 8
$820,737
$13,654
$889,927
d e f.$55,536
1905-06
3,0 5 7 ,8 0 9
707,878
14,536
878,717 d e f.156,303
Pres., W . F. Fitch, Marquette M ich.— (V . 85, p. 405. 599, 788.)
D U R H A M & SOUTH C A R O L IN A R R .— Durham N . C ., south 30 miles
to Mlnturn on the Seaboard Air Line, completed O ct. 1905. Stock, $ 300 ,000; par of shares, $100.
Bonds, see table above. V . 8 1 , p. 840. P res.,
Ernest W illiam s, Lynchburg, V a .— V . 81. p. 840.
D U R H A M UNION STATION CO.— Owns passenger station at D u r h a m ,
N . C ., opened May 1 1905 and used by the Southern R y . , Seaboard Air Line
R y ., Norfolk & W estern R y. and Durham & Southern. The three nrstnamed own one-third each of the $25,000 cap. stock. Lease provides ror
rental by several lines sufficient to pay Interest on bonds and other charges.
President, H . W . Miller; Secretary, C. N . Freeman.
DUTCH ESS C O U N TY R R .— In 1907 merged In Central New England R y .
53
RAILWAY STOCKS AND BONDS.
O ct ., 1907.J
RAILWAY STOCKS AND BONDS.
54
R A IL R O A D S .
explanation of column headings, & c., see notes
on first page of tables.
Miles
Date
of
of
Road. Bonds.
Size, or
Par
Amount
Value. Outstanding
Erie & Pittsburgh— Stock 7 % rental 999 yrs Penn Co
85
$50
Special guaranteed betterment stock $ 2 ,5 0 0 ,0 0 0 ..
85
50
85 1890
General M (now first) $ 4 ,500,000 gold guar____ Un
1,000
Erie Railroad— Commo.i stock $133 ,00 0,00 0 au th____
100
___ ____
Second preferred stock 4 % n o n -c u m u la t lv e .______
100
___ ____
First preferred stock 4 % non-cum ulatlve___________
100
A— Old Bonds Assum ed— Roads Consolidated.
N Y & Erie 1st M Pierm to Dun ext 1897 g o ld -.c *
447 1847
1,000
Second mortgage (extended in 1879) gold______c*
447 1849
1,000
Third mortgage (extended in 1883) gold_______c*
447 1853
1,000
475 1857
Fourth mortgage (extended in 1880) g o l d ____ c*
1,000
Air-, 1858
Fifth mortgage (extended in 1888) gold________ c*
500 &c
Erie R y 1st M Buff Br Hornellsv to Attica g o ld -.c *
60 1861
200 &c
I-’ lrst consol M $30,000 ,000 gold $ or £ ____ F.c*
526 1870
1,000
N Y L E & W est funaed coupon bonds gold_______c*
526 1878
500 &c
140 1876
Buffalo N Y & Erie 1st M (Buffalo to C orn in g)..c *
1,000
Buffalo & Southw 1st M Buffalo to Jamestown g ._ c *
67 1877
50 &c
Newburg & N Y 1st M gold extended In 1889____ c*
12 1868
1,000
B— Bonds on Properties Controlled by Ownership of En tire (*) or a Maj
• Bergen Co R R 1st M Ruth Jet to Ridgewood N J
1,000
10 1881
*Ch & Erie 1st M g (M arion,O,to H am ’d.Ind) .C e.c*
250 1890
1,000
___
Chicago & Atlantic Terminal first mortgage g . Ce
1888
1,000
cGoshen & D eck’t ’n 1st & 2d M ’s ($60,000 are 2d)
’6 8 - ’69
cMont & Erie 1st & 2d M ’s ($40,500 are 2d sj_______
’66 - ’67
•Jefferson 1st & 2d M’s ext In ’ 87 & ’89 (H ’d a leB r).c
8 ’67 - ’ 69
500 &c
First mortgage Carbondale to S depot g o ld .F P .c*
37 1889
1,000
__
•Long Dock Co cons M g (now 1st M) see t e x t ) ..c *
1885
1,000
cN Y & Greenw L prior lien M $1,50 0 ,0 0 0 g o id ._ N
52 1896
100 &c
34 1880
6 New Jersey & New York 1st M (reorganization) _c*
500 &c
...
General mort $1,200,000 (red 105 after 5 yrs) gold
1892
500 &c
___ 1882
N Y L E & W C R R 1st M “ lawful m oney” .-M p .c *
1,000
_
•N Y L E & W D & I CO 1st M (V 5 6 , p 8 2 ) . .F .c *
1883
1,000
•N Y Pa & Ohio prior lien M gold $ & £ _______ f .c *
422 1880
500 &c
Do Leased lines— see separate statements for Cl ev & Mah V alley R R
cN Y Susquehanna & Western— Northern New Jers ey— T loga R R .— See
C— Erie Railroad Company Bonds.
Second M on Buffalo & Southwestern g o ld _.M o .c*
67 1895
1,000
___ 1895
Prior lien bonds $35,000 ,000 g o l d ________ F.c*& r
1,000
General lien $140,000,000 g o l d ........... ......... ......... c*& r
1.000
- - - 1895
EA ST B R O A D TOP R R . & COAL CO. (P a .)— Owns from Mount U nion,
P a ., to W ood vale, P a ., 36 miles, Shade Gap R R ., 5 miles, and branches to
mines, 2 m . Total, 43 m . See V . 75, p. 77. A coal road opened In 1874. S tk .,
$815 ,58 9 (par, $50), of which $247,189 is 6 % pref.
First mortgage 4s
($500,000) due July 1 1903, remain unpaid; no int. paid thereon since Jan.
1885.
Car trusts, $ 42,400 , Int., 6 % , payable M .-N .
Year 1905-06, gross,
$176 ,49 8; net, $88,177; interest, & c., $26,157; Improvements, $31,317;
bal.. sur., $ 30,703 .
Pres., R . S. Slebert, Orbisonia, Pa.
Office, 316
W aln u t S t ., Phila.— (V . 7 7 , p. 145.)
EASV M A H A N O Y R R .— Owns from East M ahanoy Junction to St.
Nicholas and branches, 11 miles.
Re leased Dec. 1 1896 for 999 years to
Little Schuylkill N av. R R . & Coal Co. at 5 % on stock, and lease assigned
to Phlla. & Reading R y .
O f the stock * 283,650 Is owned, > 280,000 being
deposited by Reading Co. under Its general mortgage.
E A ST P E N N S Y L V A N IA R R .— Owns Reading, P a ., to Allentow n, P a .,
35 miles; second track, 18 miles; all track, 76.5 miles.
Leased for 999 years
from M ay 1 1869 to the Philadelphia & Reading R R . at a rental of 6 % per
annum on the stock and Interest on the bonds.
Lease assumed In 1896 by
the Phlla. & Reading Railway Co. O f the stock $878,850 is owned by the
Reading C o., $875,000 of which Is deposited under its gen. m ort. of 1897.
E AST TE N N E SSE E & W E S T E R N NORTH C A R O L IN A R R ___A narrowgauge road from Johnson City, T e n n ., to Cranberry, N . C ., 34 miles.
Ex
tension from Johnson City to H am pton, T e n n .. 15 miles, was completed as
third rail In Dec. 1906. Stock, $ 5 01 ,90 0.
Controlled by the Cranberry
Iron & Coal Go.
For year ending June 30 1907, gross, $231 ,01 9; net, $87,576: other incom e, $989; Int. and taxes, $31,364 ; b a l., su r., $57,202 .
Tres.
F . P. H ow e, Phila., P a .— (V . 82, p. 333, 1379.)
EA STER N K E N T U C K Y R Y .— Riverton to W ebbville. K y . 36 m . Stock ,
com m on, $1,6 9 7 ,8 0 0 ; pref., $1,7 7 9 ,5 0 0 ; par. $100.
N o bonds.
Bills and
accounts payable June 30 1906, $44,372; car trusts, $14,386 .
Earnings
for year 1905 -6, gross, $62,634 ; net, $2,228: Interest, $1,819; b a l., su r., $409.
EDM ONTON & SL A V E L A K E R Y .— V . 85, p. 468.
EL PASO & N OR TH EASTER N CO.— Owns from El Paso & Northeastern
R y ., from El Paso, Texas, northeast 165 miles, to the Salado coal fields;
controls and operates El Paso & Rock Island R y ., Carrizosa to Santa R osa,
128 m .; Alam ogordo & Sacramento M tn. R y ., Alam ogordo, N . M ., to
Russia, 31 m .; Dawson R y ., Liberty, N . M ., to Dawson, 133 m .; total.
457 miles. Name changed from New Mexico R y. & Coal Co. In 1905.
O p
erated as eastern division of E l Paso & Southwestern system , the western
division being the El Paso & Southwestern R R ., extending from El Paso,
T e x .; to Benson, A riz., with branches.
The E l Paso & Rock Island R y . was incorporated In 1902 with $2,500,000
stock (of which 6 0 % owned by the E l Paso & Northeastern Co.) and
$2,500,000 5 % guaranteed 50-year bonds. It has close traffic agreement
with Chic. Rock Island & Pacific for 999 years. V . 71, p. 1219.
The Dawson Railway & Coal C o., stock $3 ,0 0 0 ,0 0 0 , has issued $3,000,000
collateral trust bonds, which are guaranteed, principal and interest, and are
secured by the stock and bonds ($ 3,000,000 each) of the Dawson R y ., and
those;of the Dawson Fuel Co. ($1,000,000 each), the latter owning about
2 5 .0 0 0 acresof coal, mineral and timber lands. V . 73, p. 900; V . 74, p. 776.
ST O C K .— Stock, $12,000 ,000 , all of one class.
In M ay 1905 Phelps, Dodge & Co. acquired entire stock of system.
B O N D S .— The New Mexico R y. & Coal Co. coll. trust 5s of 1897 are
secured by the stock and bonds of E l Paso & N . E. R y . of New M ex. ($2,7 00.000 of each), the stock of the E l Paso & N . E. R R . of Texas, $300,000
(no bonds Issued), and all the stock ($2,500,000) and all the bonds ($1,500,000) o f the New Mexico Fuel C o., the latter covering 3,500 acres of coal
lands. O f the first and consolidated and coll. trust 5s of 1901, $3,000,000
are reserved to retire the coll. trust 5s of 1897 and $ 2 ,000,000 are applicable
for Improvements and new equipment. V . 74, p. 776.
The bonds of the Alamogordo & Sacramento M tn. R y ., of the E l Paso &
Rock Island and those of the Dawson R y . & Coal Co. are guaranteed.
N . Y . office, 99 John S t.— (V . 81, p. 508.)
EL PASO UNION PASSEN GER D EPOT.— Owns depot at El Paso, Tex.
which was completed about N ov. 1 1905.
Leased by El Paso Northeastern,
El Paso Southwestern, Galveston Harrisburg & San Antonio (So. Pac. S y s .) ,
A tch . T o p . & Santa Fe, Tex. & Pac. and M ex. Cent, railroads on a wheelage
basis providing for maintenance and all charges. Stock, $ 2 40 ,00 0, owned
equally by the 6 roads named.
O f the bonds (see table ab o v e), $12,000 Is
to be drawn yearly Jan. 1 by lot, beginning 1916, and paid off at par.
V . 7 8 , p . 104; V . 81, p. 1043.
Pres., J. E . Hurley; Sec. and Treas., U. S.
Stew art.— (V . 81. p . 1043; V . 8 2 , p. 1496.)
E L G IN JO LIET & EA STER N R Y .— Owns from W aukegan, 111., on Lake
Michigan, via Spaulding and Joliet, to Porter, In d ., 130 miles, and branches
Normantown to Aurora, 10 miles— W alker to Coster. 111.— 33 miles; H am
mond to W h itin g, In d ., & c.. 19 miles; total main line owned, 192 miles;
spurs to coal mines, & c., 26 miles; trackage. Chic. & W est In d ., 4 .8 ; Belt
R y. o f Chicago, 2, 7 miles; second track, 16 miles; side tracks and yards
ow ned. 118 miles; total track operated, 369 miles.
Entire capital stock
owned by Federal Steel Co. and so by United States Steel Corporation.
S T O C K , & c.— Stock, $ 6 ,000,000; par. $100.
D iv ., 4 % yearly (In Dec.)
in 1899 to 1906 Inclusive.
R E P O R T .— For years ending June 30;
Year.
Gross.
N et.
Oth. inc.
Interest.
Surplus.
$971,613
$21,898
1 9 0 5 -0 6 ........................... $2,634,771
$425,000
$568,511
1904 -05........................... 2 ,236.666
800,606
17,713
425,000
393,319
Pres., A . F. Banks.— (V . 74. p . 151. 205; V . 7 5 . p. 1399.)
E L M IR A C O R TL AN D & NOR TH ERN R Y.— (See M a p Lehigh Valley.) —
Owns Elm ira, N . Y . , to Canastota, N . Y . , 118 miles, and leases during
corporate existence Canastota Northern, Canastota to Camden, N . Y . , 21
miles'
In 1896 the $ 2 ,000,000 stock was purchased and 5 % bonds were
guaranteed by the Lehigh V a l. and the road leased in July 1903 for 999 years
to the Lehigh V a l. R y. of N . Y . . a subsidiary com pany.
(V . 63. p. 402.)
E L M IR A & L A K E O N T AR IO R R.— Owns from Canandaigua, N . Y . , to
Chemung J e t., 64 m .; Sodus Point to Stanley, 34 m .: other 2— total. 100 m .
A consolidation In Dec. 1886 of the Sodus Bay & Southern and other rail
roads.
Leased at cost of operating to the Nor. C ent., which owns all the
$ 1 ,5 0 0 ,0 0 0 stock.
Lease m ay be terminated on 30 days’ notice.
Vo l .
I N T E R E S T OR D I V I D E N D S .
Rate
%
When
Payable.
Where Payable, and by
Whom.
lxaxv
Bonds-—Princirien l / uc .
Stocks— Last
Dividend.
$2,000 000
7
Q M Union Trust Co. N Y
Sept 9 ‘07 1
1,119,550
7
do
do
Q M
Sent 9 ’07 1 Si %
4 ,348,000
& J
do
July 1 1940
do
3H S J
112,378,900
16,000,000 See te x t. Seml-an J P Morgan & Co. N Y fS e e t e x t .
47,892,400 See text. Semi an
do
do
See te x t.
2,482,000
2.149,000
4,617,000
2,926,000
709,500
182,400
16,891,000
3,699,500
2,380.000
1,500,000
250,000
ority (b) of
200,000
12,000,000
300.000
246,500
170,500
300,000
2,800,000
7,500.000
1,500.000
400,000
629,500
1,100,000
3.396,000
8,000,000
and Sharon
each compa
1,000,000
35,000.000
44,012.000
4 g
5 g
4 14 g
5 g
4 g
4 g
7 g
7 e
7
6 g
5 g
Capital S
6
5 g
5 g
6
5
4J^ & 6
5 g
6 g
5 g
6
5
6 cur
6
4H g
R y.
ny.
5 g
4 g
4 a
M & N
M & S
M & S
A & o
& D
J
& J
J
M & S
M & S
& D
J
J
& J
J
& J
tock. or
A
& O
M & N
& J
J
Various
Various
& J
J
A & O
A & O
M & N
M & N
J
& J
M & N
& J
J
M & S
J.
J
J
&
&
&
11 Broadw ay. New YorklM ay 1 1947
do
do
Sept 1 1919
do
do
Mar 1 1923
do
do
Oct 1 1920
do
do
June 1 1928
do
do
July 1 1931
do
do
Sept 1 1920
do
do
Sept 1 1920
do
do
June 1 1916
do
do
July 1 1908
do
do
Jan 1 1929
by (c) Lease.
11 Broadway New York April 1 1911
do
do
May 1 1982
do
do
July 1 1918
1928-1929
11 Broadw ay, New York 1926-1927
Fidelity Trust Co, Phlla July 1 1927 192S
11 Broadway, N ew York Jan 1 1909
J P Morgan & Co, N Y
Oct 1 1935
do
do
May 1 1946
do
do
May 1 1910
Jan 1 1933do
do
May 1 1922
do
do
July 1 1913do
do
do
Mar 1 1935
do
J 11 Broadway, New York July 1 1908
Jan 1 1996
J New York & London
J 11 Broadway. New York Jan 1 1996
Calendar Year.
Gross.
Net.
Oth. inc. In t.,& c.
Balance.
1906 .......................$1,113,101
$96,852
$6,012 $61,632 s u r .$ 4 1,232
975,282 op .def.20,091
1 9 0 5 ..................... .
6,865
68,010 def. 8 1 ,2 3 7 ’
E L M IR A & W IL L IA M S P O R T R R .— Owns from W illiam sport, P a ., to
Elm ira, N . Y . , 75
miles. Leased to the North. Cent. R y. for 999 years
from M ay 1 1863. The dlvs. on the com. stock are 5 % and on the pref. 7 % .
less taxes, making dlv. on com. 4 .4 8 % and on pref. 6 .3 0 % . Year ending
Dec. 31 1906, gross, $1,5 7 6 ,3 1 1 ; net, $300,330; rental, $152,520.
E R IE & PITTSBU R G H R R .— Owns New Castle, P a ., to Girard, P a ., 81
miles; branch to Erie D ocks, 3 m .; trackage to Erie, 17 m .- total operated,
101 miles.
Leased to Penn. R R . for 999 years In 1870 at 7 % on stock and
Interest on bonds, and lease transferred to Penn. Co.
Under agreement of
N ov. 1 1905 the Penn. R R . will provide sinking fund instalments required
by the gen. m ort., the E . & P. to deliver Its 3 H % debentures at par for
such advances and at m aturity of the gen. mort. bonds to exchange new
mort. bonds therefor.
Debentures outstanding Dec. 1906, S I0 6 .6 15
S T O C K .— The stockholders on Jan. 9 1905 authorized an Increase In the
stock from $ 2 ,000,000 to $ 4 ,5 0 0 ,0 0 0 , the new stock to be Issued as required
for Improvements, to be subordinate to the old stock, but to be guaranteed
7 % dividends. V . 80, p. 162.
E A R N IN G S .— The lease showed to the lessees In 1902, profit, $2 5 4 ,1 4 2
In 1903, profit, $197,549; in 1904, profit, $262,544; in 1905, profit. $442,059.-.
in 1906, profit, $475,744. See V . 84, p. 7 49.— V . 84, p. 749.) ER IE R A IL R O A D .— (See M a p on adjoining page.)— Embraces trunk,
line from Jersey City, opposite N . Y . C ity, to Chicago, 111., 99 8 m ., and'
branches 1,335 m .; total, 2,333 m .; second track, 814 m .; 3d and 4th tracks,
33 miles; total, 3,180 miles. In 1906 electrification of Rochester division,
and branches, total 150 miles, was begun. V . 8 2 , p. 1379.
H I S T O R Y .— O N Dec. 1 1895 succeeded to the property of the old N . Y .
Lake Erie & W est. R R . C o ., sold In foreclosure on N o v . 6 under its 2nd con
solidated m ort. The new com pany holds In fee or through ownership o f
all or practically all the stock of the Independent companies the line from.
New York to Chicago (Including the N ypano R R . and Chic. & Erie com
panies) , and also all branch and subsidiary lines except a few sm all prop
erties
The reorganization plao of 1895 was in V . 61, p. 368.
In 1901 an interest In the Lehigh Val. R R . was purchased. V . 73, p. 3 9 1 .
The Buffalo Creek Extension R R . was Incorporated A ug. 3 1906 with
$400,000 authorized stock, to build a road 8 miles long connecting the Buf
falo Creek R R .. Buffalo Terminal R y . and Lehigh V a lley R R .
Construc
tion work was suspended In March 1907. V . 83, p. 322; V . 84, p. 693.
Lines owned in fee.
M iles. \ Leased lines.
M ile s.
Plerm ont, N . Y . , to D u n k ir k -- 447 A von Gen. & M t. Morris_______ *15
Buffalo to Jam estown, N . Y . . .
6 7 1Montgomery & Erie.......... ............ *10
Buffalo to Corning, N . Y _______ 140 Northern R R . of N . J___________
*26
Other branches_________________
139 Goshen & Deckertown__________ *12
Stock all (a) or nearly all (b) owned. R och. & Genessee V a lley_______ *18
aChlcago & Erie R R .......................*250
Other lines_______________________
43
aJefferson R R ___________________ *45
Leased to N ypano R R .
N . Y . & Greenwood Lake R R . . * 5 2 Cleve. & Mahoning V alley R R - *81
bNew Jersey & New York R R . *3 8 Sharon R ailw ay________________
*82
Erie & W yom ing Valley R R ___
59 Other lines___________________ . . .
54
aN ypano R R ------------------------------- * 4 2 2
Trackage__________________________ 185
bTioga R R ..........................................
5 8 ! Lines In system June 30 ’0 7 ____ 2,33?.
Other lines_______________________ 140 N . Y . Susquehanna & W e s t . . . *238
•See this com pany.
New cu t-o ffs ,' &c ~., V . 80, p. 2621; V . 81, p. 777; V . 8 3 . p . 910; V . 8 4 .
p. 1366.
C O A L A N D S T E A M B O A T P R O P E R T Y .— The Erie coal properties rep
resent an aggregate of 10,500 acres of anthracite, of which about 9,000 acres
are held In fee; also 53,000 acres of bituminous coal lands held In fee, 14,000
acres of bituminous held unaer mineral rights. Its coal tonnage in the
year 1906-07 aggregated 18,258,031 out of the 3 9 ,1 6 9 ,6 1 7 tons hauled.
The Union Steamboat Line (mereed In Erie R R . Co. June 30 1896), has
term inal, & c., properties in Buffalo and 8 lake steamers. See V . 6 3 , p . 5 1 * .
The Penn, coal properties acquired in 1901 are additional. See above .
In June 1906 the Clarence and Avoca coal companies, aggregate production.
175,000 tons, were acquired. V . 82 p. 1322.
S T O C K .— The voting trust was dissolved May 1 1904. V . 7 8 , p. 1549.
The prior lien and the general lien bonds of 1895 have 10 votes for each$l ,000of principal, their authorized issues aggregating $ 1 7 5 ,0 0 0 ,0 0 0 , of which
$7 7,012 ,000 issued in July 1906.
The com pany reserves the right t o
redeem either class of its pref. stock at par In cash. Provisions of pref.
stock were in “ Supplem ent” of April 1897, page 3.
In Mch. 1898 Erie 1st pref. stock was increased from $30,000 ,000 t o
$ 4 3 ,0 0 0 ,0 0 0 , and com m on stock from $100 ,00 0,00 0 to $ 1 1 3 ,00 0,00 0, to
acquire New York Susq. <5c W estern stock. See V . 66, p. 3 35, 573. The
1st pref. stock was further increased in 1901 $ 5 ,000,000 in connection with
the purchase of the Pennsylvania Coal Co. V . 72, p. 136, 532.
In 1905 authorized com. stock was increased to $ 133 ,00 0,00 0 to provide
for $10,000,000 (first issue) of convertible debentures. V . 80 p . 13«2.
D IV I D E N D S (cash) % . . ) 1901. 1902. 1903. 1904. 1905. 1906. 1907.
On 1st preferred________ _ j- \ y ,
3
3 hi
4
4
4
A p r .,£
On 2d preferred.................... j
..
--2
4
Apr. ,2
From the earnings of the fiscal year 1906-07 were declared a dividend oi
2 % on the 1st pref. stock In scrip, payable Oct. 1 1917, and of 4 % in scrip
on 2d pref. stock, payable N ov. 1 1917, viz.: 2 % to stock of record O ct. lt>
1907 and 2 % to stock of record April 10 1908. V . 85, p. 528.
B O N D S .— The new first consolidated mortgage Is for $175 ,00 0,00
(Farmers’ Loan & Trust C o ., trustee)— see a b str a c t of deed V . 62, p. 89,
and secures $35,000 ,000 prior lien and $140,000,000 general lien bonds.
Both series have voting power; see “ S to c k " above.
O f the $ 140 ,00 0,00 0 general lien bonds, $92,073 ,000 are reserved for theultimate acquisition of bonds and guaranteed stocks left undisturbed on
various parts of the system (see list V . 62, p. 8 9 ), and $17,000 ,000 were
reserved for new construction, betterm ents, additions, & c., after 1897,.
not over $ 1 ,000,000 to be used In any one year.
The position of the first consolidated mortgage Is substantially as follows:
It Is a first lien (mortgage or collateral, the prior Hen bonds, however, pre
ceding the general lien bonds) upon the cos. chief coal properties (except
55
RAILWAY STOCKS AND BONDS.
O ct ., 1907. |
56
I N T E R E S T OR D I V I D E N D S .
R A IL R O A D S .
Date
Size, or j
M iles
of
j Par
| Amount
of
Road. BondsJ Value. Outstanding
F or explanation of column headings, & c ., see notes
on first page of tables.
Brie Railroad— (Concluded)
Penn coll trust M $36,000 ,000 g s f te x t-.M e .c & r
First conv M $50,000 ,000 gold Series A ____ S .c*& r.
do
do
do
Series B ______________
Notes $ 1 0,500 ,000 authorized________________________
Erie & Jersey notes secured by E . & J bonds----------N Y Pa & Ohio equip trusts sink fd drawn at 1 0 0 ..
Other equipment trusts— See text.
A von Geneseo & Mt Morris and Rochester & Genese
Evansville & Indian.— T H & Southeast’n 1st M ..F.C *
Evansville & Indianapolis 1st M gold guar — F.c*
Cons M ($2,500,000) g gu p & i (end) E & T H .F .c *
Evansville & Terre Haute— Common stock____________
Preferred stock non-cum (see t e x t ) ________________ Ta
Consolidated mortgage (first lien) gold_______________
First consolidated mortgage gold----------------------- F.c*
Mount Vernon Branch mortgage gold__________F c*
Sullivan Co Coal Br mortgage gold--------------------- F.c*
First general mortgage for $ 7 ,000,000 gold-------F.c*
Equip bonds Series B , due $20,000 s-a ( V .8 2 ,p .627) B
Do
do
Series C, due $60,000 s-an___ Ba
Fall Brook— Stock ($500,000 Is 7 % preferred)----------Fitchburg— Preferred 5 % rental________________________
Bonds, not m ortgage________________________________ c*
Bonds to State of Mass, 4 % since Feb 1897________ r
B onds, not m o rtg a g e _____________________________ c&r
B onds, not mortgage________________________________ c*
B onds, not mortgage ($1,359,000 due 1915 )---------c*
Bonds, not mort ($2,750,000 are 4s of 1 8 9 7 )___ c&r
Bonds, not mortgage ($ 1 ,775.000 are 3>4s of ’ 01)c&r
B onds, not m ortgage, $ 2 ,000,000 au th ________ c*& r
B onds,not M $ 3 ,660,000 cu r_____________________ c&r
T roy & Boston first mortgage (V . 53, p. 4 0 5 ) .. .c & r
Brookline & Pepperell plain bonds guar (end) — c
Verm ont & Massachusetts plain bonds guar-------c&r
,
1901 $1,000 &c $34,000 ,000
1903 1.000 &c 1 0 000 ,000
1905 1.000 &c 12,000,000
5 .500.000
1907
1,000
1907
3.000.000
£1 0 0
’8 8 - ’90 !
352,060
’ Subject to call at par beginning D ec. 1907.
Interest paid: " A ” to “ G ” and “ J ” in New Y o rk; series “ H ” at Girard
Trust C o., Philadelphia; series " I ” at Penn. Co. for Insur. on Lives, & c.,
Phlla.
In A u g . 1907 application was m ade to issue about $8,000,000 car
trusts, of which part Issued. Other car trusts June 30, 1907, $103,409.
Old Bonds.— Under the 1st consol. M . of ’95 the co. covenants to pay the
Int. regularly on all the old bonds in the table that are marked with an * or
a b (except N . J. & N . Y . bonds), and to take them up and pledge them
with the trustee at m aturity.
Long Dock 6s, see March 1894 “ Supplem ent,” under N . Y . L . E . & W .
F I N A N C E S .— Dividends out of earnings of fiscal year 1906-07 were paid
In scrip. V . 85, p. 528.
In 1905 and 1906 $12,000 ,000 4 % “ B ” bonds were sold, convertible
Into common stock at $60 per share at any time between Oct. 1 1907 and
before O ct. 1 1917. The proceeds are to be used for Improvements.
V . 81, p. 1100, 1610; V . 84, p. 158; V . 84, p. 270.
E A R N I N G S .— 2 m onths,j 1907____ Gross, $ 1 0 ,1 2 1 ,1 5 6 ; net, $ 2 ,951,127
July 1 to A u g. 3 1 . ___. . -\ 1 9 0 6 _____ Gross,
8 ,8 7 5 ,7 0 2 ; net, 2,655,161
A N N U A L R E P O R T .— Fiscal year ends June 30.
Report for 1906-07
given in full In V . 85, p. 856, 915. Average freight train load, 472 tons,
against 454 In 1905-06.
1906-07.
1905-06.
1904-05.
1903-04.
Miles operated............. ..
2,151
2,151
2,151
2,151
Gross earnings...............
$ 5 3 ,914 ,827 $50,002 ,634 $ 4 5,724 ,738 $45,201 ,163
W orking e x p e n s e s ...
3 8 ,167,039
3 5 ,872,837 33,14 2 ,2 0 8
3 2 ,581,838
N et earnings.............
$15,7 4 7 ,7 8 8 $ 1 4 ,129 ,797 $12,582 ,530 $12,619 ,325
N et coal co m p a n ies.. 1 $2,202,6251 $ 1 ,595,140
$2,190,439
$1,993,911
O ther Income................I
................ I
582,702
488,048
412,807
Total net I n c o m e ...
I n te re st...........................
R e n t a ls _______________
P . c. due leased lines.
In t. on equip, t r u s t s ..
Miscellaneous ...............
A d d ’ns & lm provem ’ts
D1V8. on 1st preferred.
D1 vs. on 2d preferred.
Balance, s u r p lu s ...
$17,9 5 0 ,4 1 3 $16,307 ,639 $15,261 ,017 $15,026,043
$9,57 2 ,6 2 8
$ 9 ,246,948
$8,89 1 ,0 7 7
$8,593,688
1 ,147,502
1 ,094,575
1,153,623
1,053,969
169,330
172,827
176,893
189,204
6 0 2,922
397,562
264,249
284,791
554,373
379,083 '
368,580
352,339
1 ,642,029
1,926,975
1.360,555
1,540,320
(4 )1 ,9 1 5 ,6 9 6 (4)1 915.696 (4 )1,915,696 (4)1,915,696
(4)640,000
(4)640,000
(4)640,000
__________
$1,705,933
$533,975
Rate
%
r When i Where Payable, and by
j Payable.
Whom .
$490,344
$ 1 ,096,036
Bonds— Princi
pal, When D ue.
Stocks— L a st.
Dividend.
4g
|F & A l l Broadw ay, New York Feb 1 1951
April 1 1953
4 g
|A & O
do
do
April 1 1953
4 g
]A & O
do
do
April 8 1908
N one. _________ New York
6
______ j___________________ 1910
1908 and 1910
5g
! Various London
Vail ey Sto !cks— See those Comp anles.
1,000
251.000
7
M &
S Bankers' Trust Co, N Y
40 1879
do
do
1,000
647.000
6 g
jj &
J
55 1884
do
do
1 ,0001
135 1886
1.602.000
6 g
|J &
J|
50
3,987,383 Y early; '4 in 1907 Checks mailed __________
O Checks mailed __________
5 0!
1,283,333 5 in 1907|A &
6 g
J &
J Bankers’ Trust Co, N Y
1,000
30,000
115 1880
do
do
& J
1,000
3 .000.000
144 1881
6 g
do
do
1,000
375.000
& O
25 1883
6 g
do
do
1,000
450.000
& Oj
1890
5 g
do
do
1,000
&O
3.145.000
199 1892
5 g
1 ,0 0 0
& a |Blair & Co N Y
300.000
19’io
g
do
do
1 ,0 0 0
1.020.000
1J06
4H £ F & A
50
5.000.000 See text. Q— F 5 Office, Corning, N Y
Office, Boston & Me, Bos
1 0 0 17,360,000
5
I Q— J
5
M & N Office, Boston
2.000.000
1,000
1888
1,000
do
F & A
5 .000.000
4
1887
!J
& D
do
4
500.000
1890 1 .0 0 0 &c
1,000
500.000
do
1894
4J4 iM & N
Various
do
1 ,0 0 0
1.859.000
4
’9 5 - ’96
4
4 .200.000
Various
do
’9 7 - ’98 1.000 &c
SH |A & O
do
'00-’01 !1,000 &c 2.275.000
4
do
2.000.000
'A
& O
1907 1 .0 0 0 &c
4
|M & N Office, Boston
3 .660.000
1905
l.OOO&c
573.000
7
!j
&
J
do
1874 11.000 &c
5
J
& D
do
1,000
1 00.000
1891 i
do
772,000
1903 '1 ,0 0 0 &c
3H ,M & N
Penn. Coal C o .), upon Its water transportation lines (Including valuable ter
minal properties appurtenant thereto), and upon a number of profitable
local lines In New Jersey and near Buffalo; It Is a second lien upon certain
minor coal properties and upon the railroads leading to all the coal proper
ties, upon the terminals at Jersey C ity, upon the Buffalo N . Y . & Erie R R .
(the main line to B uffalo), and the Buffalo terminal properties other than
those upon which It Is a first lien, and upon the entire line from Salamanca
to Chicago; it is a second consolidated mortgage upon the lines between Pierm ont and Dunkirk (447 m iles).
The collateral trust 4s of 1901 are secured b y 51 % of the entire N . Y .
Su sq. & W estern stock ($26,000,000 total issue), all of the Pennsylvania
Coal Co. stock, and the stock of the Erie & W yom ing Valley R R ., Scranton,
P a ., to Lackaw axen, 65 miles, and Del. V a l. & Kingston R R .
Oi the bonds
$32,0 0 0 ,0 0 0 were Issued to acquire these stocks (except N . Y . S . & W . ,
already ow ned), remaining $4,000,000 (of which $2,000,000 has been Issued)
being reserved for Improvements to properties of which stocks acquired. A
sink, fund of 10c. per ton of coal sold purchases bonds at not exceeding 105,
otherwise to be applied to the drawing of bonds b y lot, all such bonds to be
kept alive and the accruing Int. thereon to be added to the sink, fund,
which, it Is estim ated, will be sufficient to retire the whole Issue at or before
m aturity. V . 71, p. 1219, 1311; V . 7 2 , p. 44, and circular, p . 136, 532, 257;
V . 7 9 , p. 212.
In 1901-07 $ 1 .935,000 Included above as outstanding was
purchased b y sinking fund.
The con v. 4s of 1903 ($50,000,000 authorized issue) will be Issued from
tim e to time as required and m ay be made convertible into com . stock at a
price to be fixed when the bonds are Issued, but not less than $41 X per
share; they will cover all the com pany’s property subject to underlying Hens.
The first $10,000 ,000 (series A) Issued for improvements and equipment Is
convertible on basis of $100 bonds for $200 stock from A p r, 1 1905 to Apr. 1
1915; series B for $12,000 ,000 (see “ Finances” below) Is convertible into
com . stock at $60 per share at any time since O ct. 1 1907 and before O ct. 1
1917. V . 76. p. 382, 541; V . 7 8 . p. 768; V . 7 9 , p. 2205; V . 84, p. 270.
The Erie & Jersey R R ., with $600,000 authorized stock, will build a
low-grade cut-off from Highland Falls, via Campbell H all, to G uym ard,
N . Y . , about 40 miles.
In June 1907 $ 3 ,000,000 3-year Erie & Jersey 6 %
notes were sold, secured by $4,00 0 ,0 0 0 E . & J. bonds (authorized issue $10,0 0 0,000 1st 50-year 4s). V . 80. p. 2621; V . 84, p. 693, 1366.
In June 1907 the Genesee River R R . was authorized to m ake $6 ,0 0 0 ,0 0 0
m ortgage covering the proposed road from H unts to C uba, N . Y . , 30 miles;
A loan of $2,00 0 ,0 0 0 was obtained, secured by Its bonds. V . 84, d . 1366,
1 88: V . 81. p. 777.
Real estate mortgages outstanding June 30 1907, $ 6 4 7 ,3 5 0 .
In April 1907 $ 5 ,500,000 one-year notes (discounted in advance) were
sold to retire $ 3 ,000,000 notes maturing April 8 and take up about $2,0 00,000 falling due on or before Ju ly 1. V . 84, p. 803.
Car Trust Series, Cold (Denomination $1,000 each).
Date.
Interest. Outstanding.
M ature in installments.
“ A ” tO“ C ” ’9 9 -’01 4 to 5 Var. $1,80 0 ,0 0 0
V ar. to 1910
$600,000 yrly.
" D ” ______1901
4
A &O
13 0 ,0 0 0
October 1908
500,000
A p r. ’08-A p r. ’09 250,000 yrly.
“ E ” ______1902 4 1 4 A & O
“ F ” ............. 1902 4
F &A
410,000
Feb. ’08-F eb. ’ 10 1 3 5 ,0 0 0 y r ly .
“ G ” * ____ 1904 4
J& D
8 0 0 ,0 0 0
D ec. ’07-D ec. ’09
160,000 s.-a.
“ H ” _ ...........1905
4
J& D
1,6 0 0 ,0 0 0
Dec. ’07-June ’ 15
100,000 s.-a.
" I ” _______ 1905 4
J& D
6,3 0 0 ,0 0 0
Dec. ’07-D ec. ’ 16 3 50,000 s .-a .
M&N
856,000 M ay ’0 8 - N o v .’ 16
4 7 ,0 0 0 s.-a
•*J” _______ 1906 4
_______ 1907 5
J-J
580,000 Jan. ’08-July ’ 17 semi-annually.
__
_______ 1907
...
1,6 1 5 ,9 9 0 Part m onthly (V . 84, p. 931).
[VOL, LXXXV.
RAILWAY STOCKS AND BONDS,
Sept 1 1909
July 1 1924
Jan 1 1926
N ov 1 ’07 4 %
Oct 15 ’07 2 H %
July 1 1910
July 1 1921
April 1 1923
April 1 1930
April 1 1942
Feb ’08-F eb '15
Feb ’ 08-Feb ’ 1«
N ov 6 1907
Oct 1 t)7 1M rt
M ay 1 1908
Feb 1 1937
June 1 1920
May 1 1914
1915 and 1916
1927 -19 28
Oct 1 1920-1921
Apr. 1 1927
May 1 1925
July 1 1924
Dec 1 1911
May 1 1923
O F F IC E R S .— Pres., F . D . Underwood: 1st Vlce-Pres. and Gen. Solicitor ,
G . F . Brownell; 2d Vice-Pres., G . A . Richardson; 3d Vlce-P res., H . B .
Chamberlain; 4th V ice-P res., J. M . Graham; S e c., D avid •Bosnian; Treas.
D . W . Bigoney: Comptroller, M . P . Blauvelt. Office, 11 B w a y ., N . Y .
D IR E C T O R S .— Chas. Steele, J. J. Goodw in, John G. M cC ullough
Ogden Mills, Alexander E . Orr, F. D . U nderw ood, G . A . R ichard son. Francl
Lynde Stetson, Geo. F . Baker, J. N . H ill, Norman B. R e a m , H . M c K
T w om bly, E . H . Harrlman, W illiam C. Lane, Louis L . Stan ton, W m . P
H am ilton.— V . 85, p. 405, 525, 5 3 0 , 6 54, 8 56, 9 1 5 , 924.)
E V A N S V IL L E & IN D IA N A P O L IS R R.— Owns Evansville to Terre
H aute, Ind. (via W orthing to n), 134 m .; leases branch, 12 m . A consolida
tion In 1885. Of the consols $898,000 held to meet prior liens. The con
sols. and the bonds of 1924 are guaranteed by Evans. & Terre H aute, which
owns capital stock, $ 2 ,0 0 0 ,0 ' 0 . Company owns no equipment.
In 1905-06, gross, $386 ,74 1; net, $103,061; Interest, taxes, & e., $175 ,86 1
b a l., deficit for year, $72,8 0 0 .— (V . 75, p. 980.)
E V A N S V IL L E & TE R R E H A U TE R R.— (See M a p s Rock Island Co.) —
Controlled and operated.
M iles.
Road owned and operated.
M iles.
Evansville to Terre H aute_______ 109 Evansville & Indianapolis, E v
ansville to Terre Haute via
Branches to M t. Vernon, & c____ 50
W orthington, & c_______________ 148
Evansville Belt (stock held)____
5
Total In earnings____________________________________________________________ 316
Leased to other companies Rockville extension____________________________ 2J
The Chicago & Eastern Illinois owns $ 3 ,1 6 1 ,4 5 0 of the $3 ,9 8 7 ,3 8 3 com
m on stock; par, $50. V . 81. p. 1242.
D IV S . 1 ’92. ’93. ’94. ’95. ’96. ’97. ’98. ’99. ’00. ’01. ’ 0 2 -’05. '0 6 . 1907.
C om .% \ 7 a 7 X b ..........................................
2
3
1H
None. 4
'4
Pref. %J . . . . . . . .
2
0
4
5
5
5
5 y ’ly.
5
5
a Also 5 % In bonds, b Also scrip dividend.
On preferred 5 % declared In 1907, payable 2J ^ % O ct. 1907 and 2J^%
April 15 1907.
B O N D S , G U A R A N T IE S . &c.— Certain Evansville & Indianapolis bond*
are guaranteed. See that com pany.
General mort. 5s for $ 3 ,855,000 are
held in trust to retire the prior bonds and car trusts at maturity.
Equip
ment notes June 30 1907, in addition to those in table a b o v e ,*$68,851.
E A R N IN G S .— 2 m o s .,U 9 0 7 ---------------Gross, $422 ,79 8; net, $126 ,06 0.
July 1 to Aug. 31.
J1906..................Gross, 412,476 ; net, 169,306.
A N N U A L R E P O R T .— Report for 1906-07 was given in V . 8 5 , p. 1000.)
Results of Evansville & Indianapolis are included.
Year ending June 30—
1907.
1906.
1905.
1904.
Gross ea rn in g s...................$ 2 ,2 6 7 ,2 1 5
$ 2 ,163,681
$ 2 ,050,147
$ 2 ,089,336
Net earnings_____________ 1 ,123,606
1,052,263
1,011,556
851,274
Other in c o m e .......................
25,514
24,612
28,244
36,228
Total net incom e---------$1,149,120
Interest on d ebt--------------$580,622
Taxes and m iscellaneous.
103,278
Dividends on pref. (5 % ) .
64,167
Dividends on com . (4 % ) .
159,495
I m p ro v e m e n ts___________
_______
$ 1 ,076,875
$550,281
92,284
64,167
159,495
42,921
$1,039,800
$514,160
90,929
64,167
$887,502
$509,281
99,639
64,167
79,286
Balance, surplus............. $ 2 4 1 ,5 5 9
$ 1 6 7 ,7 2 7
$ 2 9 1 ,2 5 8
$ 2 1 4 ,4 1 5
O F F IC E R S .— Pres., H . I . Miller; T reas., C. W . H illard.— (V . 82, p . 6 2 7 ;
V . 8 3 , p. 5 6 2 , 6 2 5 , 8 8 8 , 1 2 2 8 ; V . 8 5 , p . 5 9 9 , 9 2 1 , 1000.)
F A L L B R O O K R A I L W A Y .— (See M a v N . Y . Central L in es.)— Owns
Corning, N . Y . , to A n trim , P a .. 52 miles; branch to U lysses, P a ., 40 miles.
L E A S E .— The railroad and Its rolling stock was leased to N . Y . Central
& H . R . R R . for 9 9 9 years from M ay 1 1 8 9 9 for $ 1 7 5 ,0 0 0 yearly, payable
quarterly In gold, beginning A u g. 1 1 8 9 9 ; also taxes and repairs, the leases
of the Syracuse Geneva & Corning R y . and Pine Creek R R ., formerly held,
being canceled and new leases made to N . Y . Central,which also assumed the
guaranty of the $ 3 ,5 0 0 ,0 0 0 Pine Creek bonds. The lease does not include
the coal properties of Fall Brook Coal Co.
Prior to the lease, dividends had
been paid quarterly since 1891 at the rate of 7 % per annum on preferred
and 6 % on com m on; since the lease 7 % on preferred and 2 H % on com
m on.— (V . 6 8 , p. 3 7 9 , 5 7 3 , 7 7 3 , 8 7 2 .)
FIT C H B U R G R R .— System extends from Boston, Mass., to Troy and
R otterdam , N . Y . , 251 miles; branches to W orcester, Bellows Falls, & c.,
20 7 m .; 4 5 8 m . in all, of which 59 m . (Fitchburg to Greenfield) leased from
Verm ont & Mass. and 5 m . from other cos.; second track 183 m .
In June
1 9 07 purchase o f Conway (Mass.) Street R y . was authorized. V . 8 4 , p. 1 3 6 6 .
L E A S E .— Leased for 99 years from July 1 1 9 0 0 to Boston & Maine for 5 %
on pref. and 1 % on com . stock, payable quarterly (Jan. 1 , & c .) , organiza
tion expenses. Interest on bonds, taxes, expenses of maintenance, &c. The
Boston & Maine holds $ 5 ,4 5 4 ,5 5 0 of the $ 7 ,0 0 0 ,0 0 0 com . stock, purchased
with proceeds o f Its 3 % -bonds at 9 0 , the remainder being in the treasury.
V . 70* p. 7 6 , 125, 176, 5 83, 1291: V . 7 1 , p . 29, 543; V . 7 2 , p. 532.
~
■
........................
““
In January 1907
B O N D S .— ~
Debentures
described
in V . 60, p. “967.
$ 2 ,0 0 0 ,0 0 0 4 % bonds dated April 1 1907 were sold to refund the $ 1 ,5 0 0 ,0 0 0
bonds maturing April 1 1907 and provide forVimprovements.
. 8 4 , p. 158,
270.
Stockholders voted Sept. 25 to itsue $2,900,000 bonds to refund the
$2 ,000,000 bonds due May 1 1908 and double-track road between T roy an d
Johnsonville, N . Y . , and for other improvements, and to Issue preferred stock
and bonds to purchase the Conway St. R y . V . 85, p. 7 2 2 .— (V . 85, p. 793.)
F IT Z G E R A L D O C IL L A & B R O X T O N R R .— Owns Broxton to Ocilla,
G a ., 25 miles, with branch to Fitzgerald, 5 m .; leases Ocilla to Irwinville,
10 m .; total, 40 m . Successor M ay 1907 to the Broxton Hazlehurst &
Savannah. V . 84, p. 1551. Stock, $ 3 00 ,00 0, all outstanding: p a r, $100.
Of the bonds ($300,000 authorized), Title Guarantee & Trust Co. o f A tlanta,
trustee, $150,000 are reserved for extensions and Improvements.
V . 85, p.
468. Pres, and Gen. M gr., H . C. McFadden; Sec. and T reas., C. B .
G w yn.— (V . 85, p. 468.)
F L O R ID A E A ST COAST R Y .— Operates from Jacksonville. F la ., via
S t. Augustine, to M iam i, 366 miles; branches to Palatka. San M ateo, & c..
17 m .; Atlan tic & W estern, Blue Springs to New Sm yrna, F la ., 28 m .; Titus-
Oct., 1907.j
RAILWAY STOCKS AND BONDS.
M A P OF TH E
Detroit, Toledo & Ironton
AND THE
Ann Arbor Railroad
57
|V o l .
' RAILWAY STOCKS AND BONDS.
58
R A IL R O A D S .
For explanation of column headings, <£c., see notes
on first page of tables.
lxxxv
.
I
Bonds— Princi- pal. When Due.
Where Payable, and by
Stocks— Last
I
Dividend.
Whom.
I N T E R E S T OR D I V I D E N D S .
M iles
Date
of
of
Road. Ronds.
Size, or
A mount
Par
Value. Outstanding
Rate
%
$1,000
$150,000
Fitzgerald Ocilla & Broxton— 1st M $300,000 g red 110
30 1907
5 S
Flint & Pere Marquette— See Pere Marquette Statemen t.
Florida Central <& Peninsular— See Seaboard Air Line R y.
60 1904
712.000
1.000
5 g
Flori-da W est Shore— 1st M $ 2 ,000,000 gold guar p & 1
200,000
100 &c
6
26 1881
Fonda Johnstown & Gloversville— Cons M $ 5 0 0 ,0 0 0 .c
500.000
26 1897
1.000
First consol refunding M $700,000 g o l d . . ____ N.c*
4H g
1,000
800.000
26 1900
General refunding M $ 1 .500,000 (V . 71, p. 3 4 ) . - N.c*
4 g
50.000
6
4 1893
1,000
Johnstown G & Kingsboro first mortgage a ssu m e d ..
14 1892
1,000
350 000
6
Cayadutta Elec 1st M guar p & 1 by F J & G_ -g o ld - N
75 1902
1,000
4.687 000
First cons gen ref M $ 7 ,000,000 gold red 120_N .c*& r
4H g
1,000 See text.
102 1902
5 g
F t Dodge Des Moines & So— Newt & N ow 1st M redllO
___ 1907 _________
2,200,000
Ft D D M & So 1st M , $ 3 ,500,000 g red 105 (text)OB
5 S
2,800,000
___ 1907
5 g
Refunding m tge, $6,500,000 gold red par (text) - - AB
1 000 . 6,000.000
1904
Fort Smith & Western— 1st M $ 7 ,500,000 g o l d .. Me c*
--4 g
____
100
2,291 .416
5H
98
1Fort W ayne & Jackson— Preferred stock 5
% rental
__ _
100
2.539.992 4 In 1907
f t W orth & Denver City— Pref stock "sta m p ctfs.” 4 %
4 .0 1881
1,000
8,176.000
First mortgage gold $18,000 per m ile_________ Me.c*
6 g
___
___ 1906 .
546 000
5
Equip trust certs guar due $39,000 s-a redeem 101.
1,000
358,000
1907
5
do
do Ser B due sem l-ann, redeemable 101 .G
Fort Worth & Rio Grande— See St Louis & San Franci SCO.
Gainesville & Gulf— See Tam pa & Jacksonville.
1,000
661 .000
74 1905
Gainesville Midland— 1st M $1,000,000 gold red at HO
5 g
1,000
4 .756.000
Galveston Harrisb & San Antonio— 1st M g land gr.e*
256 ’71 - ’80
6 g
1.000 13,418.000
671 1881
_______ c*
W estern Division first mortgage g o l d ..
5 g
800.000
56 1900
Galv Hous & Nor 1st M (owned by Sou Par)
5 g
1.465.000
£ or $
01 1882
4 g
N Y Tex & Mex 1st M gold $ or £ g u a r by So P - .F .c *
53.000
£ or $
91 1882
4 g
do
do
do
not guaranteed_______
2.000.000
50 1883
1,000
5
Galveston Houston & Hend of 1882— 1st M ____ Me.c*
1 ,000
500.000
5 g
16 1899
Genesee & W yom ing RR— 1st M gold $ 500 ,00 0____ K
Georgia & Alabam a— Georgia Carolina & Northern— S ee Sea board Air Line R y.
1,000
590.000
85 1906
Georgia Coast & Piedmont— 1st M gdld $ 1 ,000,000 Mo
5 g
5 g
1907
See text.
Consol m tge $ 3 ,500,000 g o ld .
___
.
_____
1,000
210,000
5 g
Georgia & Fla— Millen & South IstM $800,000 g - . K
’ 53 1905
1 .000
See te x t.
1904
Georgia Florida & Ala— 1st M g old _______ ______ Ma.c* Text.
5 g
i . ooo
1,650,000
98 1896
Georgia Midland Ry— 1st M gold $1,650,000 Int guar
3‘ g
Georgia Pacific— See Southern R y.
100
4 ,200.000 11 In ’07
307
Georgia Railroad & Banking Co— Stock_______________
1,000
5
1,000,000
----- 1897
Bonds, refunding, not m ortgage, currency_______ c*
When
Payable.
J Atlanta, Ga
J
&
J
A
J
J
J
A
M
A
J
A
A
M
See
J
J
A
& J
& O
& J
& J
& J
& o
& N
& O
& J
& o
& o
& s
text.
& D
<Jc D
& O
M
F
M
J
A
A
A
A
&
&
&
&
*
&
&
&
N
A
N So P Co, 120 B ’w ay, N Y
do
do
J
ac Co, N Y ; & Lond
O
do
do
O
M
J
A
J
A
&
&
&
&
&
s
D
O
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Q— J
J
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24 Broad S t ., New YorklJan 1 1934
Imp & Trad N at B k, N Y 1April 1 1921
New York Trust Co, N Y July 1 1947
do
do
July 1 1950
Metropolitan Tr Co, N Y July 1 1913
Farmers L & Tr Co, N Y Oct 1 1922
N Y Trust Co, N Y
iNov 1 1952
Old Col Tr Co, Boston
;Oet 1 1932
do
do
!Jan 1 1932
American Tr Co, Boston April 1 1937
Mercantile Trust Co, N Y April 1 1954
Farmers L & Tr Co. N Y lS ept I ’07 2*4 %
Morton Trust Co. N Y
Feb 21 1907 4 %
Mercantile Trust Co, N Y !D e c 1 1921
_____________________ : Deo ’07-June’ 14
Guaranty Tr Co, N Y
Apr ’ 0 8 -A p r ’ 17
1
1
1
1
1
1
1
1
1935
1910
1931
1930
1912
1912
1913
1929
Mar 1
1947
[anover N at Bank. N Y (April 1
■july 1
lanhattan Tr Co. N V
P Morgan & Co, N Y April 1
1956
o
o
o
Augusta, Ga
J
|July 1 1937
Nov
Feb
May
Jan
April
April
April
April
1055
1954
1946
!Oct 15 ’ 07 2 ^ %
Jan 1 1922
Yearerid. JuneSO—
1905.
1904.
1903.
1902.
vllle branch, 48 m .; Jacksonville to M ayport, 25 m .: total, 484 m . V . 6 9 , p.
Gross earnings-............. $2,526,496
$ 2 ,496,617
$ 2 ,494,587
$2 ,2 6 2 ,1 2 3
591.
System owned by Henry M. Flagler.
Extension from H om e
50 2 ,6 0 0
677,331
464,986
561,373
stead to K ey W e st, about 126 miles is under construction, whence It Is N et over taxes________
14,359
11,248
17,534
_______
proposed tp operate ferry-boats to H avana, 85 miles, In place of Peninsular Other incom e___________
For 8 m os. ending Feb. 28 1906, gross, $2,264 ,0 3 8 ; net, $810 ,95 7; other
& Occidental SS. Co. V . 81, p. 211; V . 85, p . 921.
Income, $6,230; taxes, $34,234 ; Int., & c ., $336,318; bal., sur., $446,635.
June 30 1905, stock, $1,0 0 0 ,0 0 0 ; $ 7 ,259,000 1st m ort. bonds Issued. In
Pres., Frank Trum bull, Denver, Col.— V (. 8 2 , p. 1156; V . 84, p. 508.)
O ct. 1902 filed a 2d m tge. to Colonial Tr. Co. of New York (now Trust Co.
of America) as trustee, to secure $8 ,7 4 1 ,0 0 0 30-yr. 5 % bonds dated Jan. 1
G A IN E S V IL L E M ID L A N D R Y .— Owns Gainesville, G a ., to Athens, 42
1903 , of which about $ 6 ,000,000 was reported to be Issued.
V . 7 5 , p. 906
miles, standard gauge, and Belmont to Monroe, 32 miles, narrow gauge, to
The $ 3 ,500,000 3-year 6 % coupon notes dated Aug. 1 1907 (denomination
be standard-gauged. Successor to a portion of the Gainesville Jefferson
$10,000 each) are guaranteed, prln. and Int., by H. M. Flagler and secured
& Southern R y ., foreclosed July 5 1904.
V . 7 9 , p. 151, 269, 500, 627,
by pledge of $ 5 ,000,000 first m tge. bonds; U . S. M tge. & Trust Co. of N . Y .
Stock, all outstanding, $ 5 50 ,00 0.
Of the 1st 5s of 1905 ( $ 1 , 0 0 0 ,0 0 0 au
is m ortgage trustee. V . 85, p. 220.
For year 1905-06 gross earnings,
thorized), $14,000 is reserved to retire old 6s and $325,000 for extensions.
$ 2 ,7 4 1 ,1 5 2 ; net, $703 ,50 5, against $720,341 In 1904-05; other Income,
V . 81, p. 1848. The Savannah Trust Co. Is m ortgage trustee. V . 81, p.
$ 1 ,7 6 1 ; charges, $843 ,34 0. — (V . 85, p. 405, 921.)
1375, 1550.
Year ending June 30 1906, gross, $108,939; net, $23,236 ; Int
Pres., Geo. J. Baldwin; S e c.,
F L O R ID A W E S T SHORE R Y — Turkey Creek, F la ., on Seaboard Air on Ijonds, $12,693; bal., sur., $10,543 .
Line, to Sarasota on the Gulf of M exico, 56 miles. Including 4 m . of track F . J. Crohan.— (V . 81. n. 1848.)
age, with branches, 8 m .; total, 64 m . Stock authorized, $ 1 ,0 0 0 ,0 0 0 , of
G ALVESTO N H A R R IS B U R G & SAN AN TON IO R Y .— (See Alap South.
which $500 ,00 0 outstanding .practically all owned by Seaboard Air Line;
Pacific.)— Owns Galveston via Houston, T e x ., to east bank of Rio Grande
par of shares, $100.
Under contract of 1903 the Seaboard Air Line is a
River. 833 miles; Beevllle to Rosenberg, 147 m !les:Port Lavaca to Cuero. 55
preferred connection and guarantees the outstanding bonds: V . 80, p. 1478;
miles; Stockdale to Cuero, 46 miles, completed July 1906; branches, 233
V . 7 7 , p 695.
For year ending June 30 1906, gross, $130 ,81 1; net, $28,252 ;
miles; trackage, 3 m .; total, 1,317 miles. Operated by Southern Pacific C o.,
total deductions. $37,752; bal., d e f., $ 9 .5 0 0 .— (V . 80, p. 1478.)
which owns $27,056 ,100 of the $27,084,372 stock ( p a r , $100).
A consoli
dation in Aug. 1905 with the N e w York Texas & M e x i c a n , G ulf Western
FO N D A JO H NSTO W N & G L O V E R S V IL L E R R .— Owns Fonda to NorthTexas & Pacific, San Antonio & Gulf, Galveston Houston & Northern and
vllle (steam ), 26.2 miles; Gloversvllle to Schenectady (electric), 3 2.3 m .;
Gonzales Branch R R . V . 79, p. 2642; V . 80, p. 1424; V . 81, p . 211, 668,
Gloversvllle to Fonda (electric), 9.34 m .; Am sterdam to Hagam an (electric),
1242; V . 83, p . 1528.
Stock is to be increased and new mortgage made;
3.6 m .; Belt line In Gloversvllle (electric), 3.9 m .; second track (electric),
uot a r r a n g e d in J u n e 1907.
2 1 .2 miles. Operates under lease branch line Broadalbln Jet. to Broadalbin,
B O N D S .— First mtge. has a sinking fund of 1 % , but it Is optional with
3.2 m . (steam ); also local line Gloversville to Johnstown (electric), 4.23 m .;
.sidings and turn-outs, 11.7 m .; total, 97.47 miles of road (118.67 miles of holders to surrender their bonds if drawn. Western D iv. 2ds ($6,354,000)
by agreement are
treated as income bonds; V . 58, p. 719; V . 8 4 ,
tra ck ). of which 96.87 miles on private right of way and 21.8 miles on street,
p. 803.
Equipm ent bonds, $1,558,000 6s, owned by So. Pac. V . 76, p.
and highways. Stock. $2,5 0 0 ,0 0 0 ; par, $10.
1300; V . 77, p. 2160.
Southern PaclficCo. and sink, funds of proprietary
Owns entire $105,000 stock of Coal Co. of Fulton Co. and stock of Edison
companies also own $842,000 Matagorda D iv. 1st M. 6s of the old N . Y .
Electric Light & Power Co.
(V . 7 1 , p. 1167.)
V . 78, p. 29.
Also a twoTex.
&
Mex.
R
y
.,
$2,224,000
G ulf W est Tex. & Pac. 1st mtge. 5s and
thirds interest in stock and bonds of Adirondack Lakes Traction C o ., 4 jnlles,
$1,110,000 out of a total of $6,354,000 W est. D iv. M. & P. E x t. 2d m tge.
•nd the resort “ Sacandaga P ark.”
6s; $1,000,000 G. H . & S. A . East. D iv. 2d 6s (extended), due June 1 1935,
B O N D S .— O f tne consol. 4 ^ s o f 1902 ($7,000,000 authorized), $1,850,000
are also owned by So. Pac. or sinking funds of proprietary cos.
is reserved to retire prior liens.
V . 76, p. 265.
Guarantees $30,000 Glov
Year I90a-Ub, including Galv. liar. & S. A ., Galv. Houst. & N or., Gulf
ersvllle & Broadalbin 5s and $50,000 Johnstown Gloversville & Kings boro
W est. Tex. & Pac. and N. Y . Tex. <5c M ex., gross, $ 9 ,915,224: net. Incl.
Horse R R . 6s and $50,000 8 % stock.
other Income. $3,116 ,5 0 1 ; charges, $2,154 ,1 1 9 ; bal., sur., $ 9 6 2 ,3 8 2 .— (V .
L A T E S T E A R N S .— 2 m o s .,
J1907 ____ Gross, 5186 ,18 6; net, $111,341
81, p. 6 68, 1242; V . 84, p. 803.)
July 1 to A u g .31.
1 1906 ____ Gross,
16 >,067; net,
98,791
O ALVESTO N H OUSTON & H EN DER SO N RR. OF 1 8 8 2 .— Owns from
R E P O R T .— For year ending June 30 1907, gross, $774 ,53 6: net, $371 ,95 4; Galveston, T e x ., to H ouston, T e x .. 50 miles.
other income, $20,397; charges, $356,818, bal., sur., $35,533 .
O R G A N I Z A T I O N .— The M. K . & T. and International & Great North,
have had trackage rights since Dec. 1895 under a contract providing for pa y
FORT DODGE DES MOINES & SOUTH ERN R R .— Owns or controls road
from Des Moines, I a . , to Fort Dodge and extensions to Rockwell City and ment to mtge. trustee of $100,000 yearly to meet Interest on G. H. & H .
N ew ton, with 7-miie brancfl to Ames and local lines In Fort Dodge and bonds and an additional rental of $24,000 per annum for dividends or other
M. K . & T . owns 4,999 shares
A m es, all equipped for steam service, and the main line between Des Moines purposes— see V. 61, p. 1064; V. 63. p. 697.
and Fort Dodge, with branch to A m es, a total of 90 miles: also with electric of G. H . & H stock— see V . 61, p. 1013.
Stock, $ 1 ,000,000; par, $100.
Dividends paid in M ay, 1904 to 1906, 4 %
power for high-speed passenger service.
O f this Newton to Rockwell City,
For year ending Dec. 31 1906, gross, Including $124,000 for
102 miles. Is the Newton & Northwestern R R ., which Is controlled by yearly.
trackage as above, $442,460; net, $182,786; other Income, $2,C15; Int..
ownership of securities. See V . 85, p. 98.
$100 ,00 0; divs., 4 % , $40,000; real estate and Improvements, $9,549;
S T O C K .— Common stock, authorized, 85,500,000; outstanding, $ 2 ,0 0 0 ,b a l., sur., $35,8 5 2 .— (V . 65, p. 1114.)
000: preferred 5 % non-cum ulatlve. $ 1 ,200,000; all Issued.
GENESEE & W Y O M IN G R R .— Retsof, N . Y . , to Pittsburgh & Lehigh
B O N D S .— The first 5s of 1907 ($3,500,000 authorized) are Issuable at
Je t., 11 miles; Retsof Jet. to Grelgvllle, 4 m .: branch, 2 m .; total, 16 miles.
$ 14,000 per mile and the refunding 5s, of which $ 3 ,500,000 are reserved to
Stock, $500 ,00 0; par of shares. $100.
Dividends from Oct. 1899 to 1902
take up the first 5s, at $17,000 per mile.
Of the Newton & Northwestern
incl., 5 % yearly; 1903, 8 % ; 1904. 8 % ; 1905 to O ct. 1907, 4 % yearly (A . &
first 5s ($2,460,000 outstanding), about 7 5 % has been acquired b y the
O .).
Year 1906-07, gross, $129,022: net, $45,273; charges, 527,560; divs.
F t. Dodge Des Moines & So. Mortgages cover also 3,218 acres coal lands.
( 4 % ) , $20,000; b a l .,d e f ., $2,2 8 7 . Pres., E . L. Fuller, Scranton, P a.; Treas.,
V . 8 5 , p. 98.
Mortimer B. Fuller; Sec., H . D . Fuller, 170 Bway, N . Y .— (V .7 6 , p . 1248.)
O F F IC E R S .— Pres., Hom er Lorlng; S e c., Lawrence H . Parkhurst.—
( V . 85, p. 98, 160.)
GEO R G IA COAST & PIEDM O N T R R . — Extends from Darien to CoiExtension Darien to Bruns
FORT SMITH & W E S T E R N R R .— Operates Fort Sm ith, A r k ., to G uth 11ns. G a .. 85 miles: completed In July 1906.
wick, G a .. 15 m ., was proposed In Dec. 1906. Stock au th ., $15,000 p e r m .
rie, O. T ., 216 miles, of which Coal Creek, I. T ., to Guthrie, 196 m .. Is owned
The consolidated 40-year 5s (limited to $3,500,000) are Issuable at $10,000
and F t. Smith to Coal Creek_. 20 m .. is K ansas City Southern trackage, to
per mile and $2,000 per mile additional for equipment when the property has
be replaced by com pany’s own road. Coal properties are developed at
earned 5 0 % In excess of Interest charges; $200,000 m ay be used to acquire
McCurtain, I. T . , 40 m . west of Fort Sm ith, producing an average of 30,000
tons per m onth.
In July 1906 acquired 5 1 % of the capital stock of the terminals, sufficient of the issue being also reserved to retire the 1st 5s.
V . 82, p. 804.
Year ending June 30 1907, gross, $89,262. Pres., Donald
S t. Louis El Reno & W estern R y ., Guthrie to El R eno, O. T ., 42 m iles.
M ackay.— (V . 82. p. 804.)
The latter will be operated Independently.
Stock, $ 5 ,0 0 0 ,0 0 0 , all outstanding; par $100.
Of the 4s of 1904 ($7,500,G EO RG IA F L O R ID A & A L A B A M A R Y .— Owns C uthbert, G a .,t o Talla
000 a u th .), $5,83 3 ,0 0 0 were issued in exchange for $ 5 ,000,000 old as,
hassee, F la ., 107 m .; Tallahassee to Carrabelle, on the Gulf o f M exico, 51
5400,000 are reserved to replace the 20 miles of trackage mentioned above, m .; branch. Havana. Fla., to Q uincy. 12 m .; total, 170 miles. Also oper
$400 ,00 0 for equipm ent, and the balance for other purposes.
In July 1903, ates steamer line from Carrabelle to Appalachicola, Fla. Stock, $350,000;
filed an agreement for the purchase of equipment costing $438 ,00 0. V . 77
par, $100.
Bonds reported as outstanding Jan. 1907, $ 1 ,100,000 on 107
p. 88.
For year ending June 30 1907, gross, $6S 4,337; oper.expenses, taxes
miles from Cuthbert to Tallahassee, $510,000 on 51 miles Tallahassee to
and fixed charges, $694,001; b a l., d e f., $9,6 6 4 .
In 1905-06, gross, $520 ,31 2; Carrabelle and terminals, and $122,000 on 12 miles Havana to Quincy.
def. under charges, $ 65,525 .
Pres, and T reas., A . C. D ustin, Cleveland,
V . 79, p. 2085. The stockholders on N ov. 13 1906 authorized $1,225,000
Ohio.— (V . 79, p. 269; V . 83, p. 213, 271.)
5 % non cum . pref. stock on 168 }-■> miles, then operated, with $8,000 per
mile for additional mileage; no new stock had been issued to March 1907.
FORT W A Y N E & JA CK SO N R R .— Owns Jackson,M ich., to Fort W a y n e ,
For year ending June 30 1906, gross, $373 ,33 0; net, $103 ,67 1; total de
I n d ., 98 miles. On A u g. 24 1882 leased perpetually to Lake Shore & Mlchductions, $92,384; balance, surplus, $11,287 .
Pres., J. P. W illiam s; Sec.
gan Southern at a rental of $126 ,0 2 7 , equal to 5 14 % on the pref. stock,
and Treas., J. O . H atch. Office, Savannah, G a.— (V . 83. p. 213.)
see V . 5 6 , p. 8 1 2 ), and after 1887 any net earnings over 8 % on pref. stock
t o be paid on co m ., but not exceeding 2 % a year. Com m on stock, $436 ,13 2.
G EO R G IA & F L O R ID A R Y .— Projected from Augusta, G a .,t o Madison
F la ., 40 mlies from the Gulf of Mexico, with branches, including one to
FORT W O RTH & D EN VE R C IT Y R Y .—-(See M a p Col. S o .)— F t. W orth ,
Savannah, of which 230 miles com pleted, 100 miles connecting lines being
T e x ., to Texllne, 454 miles. Owns securities of F t. W . & Den. Term . R y.
under construction; total to be 350 miles. A further extension to deep wa
S T O C K , & c.— Colorado & Southern R y. owns all but $328,925 of the
$ 6 ,8 3 5 ,0 0 8 common Issued and all but $172,472 of the stam ped stock, and ter on Gulf of Mexico was under consideration. A consolidation In Aug. 07
of the Douglas Augusta & Gulf, Millen & Southwestern and other roads,
In 1905 Included road In Its financial plan. Pref. stk “ stam ped” , V . 63, p. 1063.
acquired by a syndicate organized by Mlddendorf, W illiam s & C o.and InD I V I D E N D S .— On preferred, 2 % ’98; '9 9 , 2 % ; 1902, 2 % April 1903,
te rn a t.T r . Co. of Maryland and John L. W illiam s & Sons of Richmond. V a .
1904, 1906 and 1907, 4 % each from surplus earnings of previous years.
H ad option on 4 5 % of stock of Savannah
B O N D S .— Finances readjusted in 1896. Plan V . 63, p. 75.
Abstract , V . 8 2 , p. 1211; V . 8 5 . p . 345.
& Statesboro R y ., 53 miles, incl. 20 m . trackage. Capitalization to b e:
o f m ortgage, V . 4 5 , p. 440.
Equipment trust certificates of 1906, V . 82,
common stock, $ 15,000 . and non-cum. pref., $ 1 0 . 0 0 0 , per mile.
After 4 ,0
p . 1101; of 1907, V . 84, p. 508.
•‘Pullm an” equipment leases, including
I on pref., com m on is to be entitled to 4 % , then pref. to 2 % additional, then
interest, June 30 1907, $980,789.
common to all other earnings.
Bonds to be limited to $ 1 2 ,0 0 0 .WKi at 520,A N N U A L R E P O R T .— Report for 1904-05 was In V . 8 1 , p. 1372.
Earn000 per m ., of which $ 6 ,000,000 reported in July 1907 to be underwritten
ngs now included In those of the Col. & So. system .
RAILWAY STOCKS AND BONDS.
O ct ., 1907.]
RAILWAY STOCKS AND BONDS.
60
R A IL R O A D S .
I N T E R E S T OR D I V I D E N D S .
Date
M iles
of
of
Road. Bonds.
Size, or
Par
Amount
Value. Outstanding
1880
Ga R R .& B an k.C o.(C on ).— Bonds,not m or t.,cu r.c *& r
’8 2 - ’ 87
Bonds, not m ortgage, cur $200,000 are 5s of ’8 7 .c* &r
Georgia Sou. & Florida— First pref stock redeemable T ext.
Second preferred $ 1 ,084,000 5 % _____________________
285 1895
First mortgage gold $ 4 ,0 0 0 ,0 0 0 ____________ MeBa.c*
392 1902
First consol mortgage $10,000 ,000 gold____ N .c*& r
1902 -6
Equipment trusts Ser A & B $38,000 due sem l-an___
Gettysburg & Harrisburg— South Mt first mortgage
1882
Gettysburg & Harrisburg first mortgage old Issu e..
‘ 35 1891
Consolidated mortgage $565,000 gold (see t e x t ) ..
125 1894
Gila Valley Globe & Northern— 1st M gold (text) ,-M p
30 1907
Glenvllle & Kanawha— First mort $600,000 g o l d ..I B
12 ’8 8 - ’89
Goshen & Deckertown— 1st & 2d M ($60,000 are 2ds)
13 1892
Gouverneur & Os wegatchie— 1st M gold gu p & 1. IJn.c
28 1899
Grand Rapids Belding & Saginaw— 1st M (text) gold
Grand Rapids & Indiana Ry— Stock $ 6 ,0 0 0 ,0 0 0 ______
335 1891
First M m ostly land grant gold extended In 1 8 9 9 .C *
335 1891
First M extended gold guaranteed by Penn R R ___ c*
387 1896
Second mortgage $5,000,000 gold_________________ c*
Grand Trunk Pac— First M £ guar Can Gov (text) .c& r 1,700 1905
1,200 1905
Prairie Section M (Ser A) £ 2 ,1 0 0 ,0 0 0 ]guar p &
• • Sec M (Ser B)' £ 2 ,0 5 0 ,0 0 0 } by Grand
500 1905
Mountain
220 1905
Lake Sup Division 1st M $1,550.000_J
Trunk
___
Debenture stock $ 2 5 ,000 ,000 redeem at 105 after ’ 36
1882~
Grand Trunk Ry— Consolidated stock £ 2 3 ,3 1 8 ,3 0 9 ..
1884
4 % guaranteed stock non-cumulative £ 1 0 ,0 0 0 ,0 0 0 ..
’7 3 - ’74
First preference 5 % stock £ 3 ,4 2 0 ,0 0 0 _______________
’7 3 - ’74
Second preference stock £ 2 ,5 3 0 ,0 0 0 _________________
Third preference 4 % stock £ 7 ,1 6 8 ,0 5 5 ____________
3,512 1874
Debenture stock £ 4 ,2 7 0 ,5 7 5 '.________________________
1874
Consolidated debenture stock (collat trust) cu m ___
.1869
Second equipment M (subject to 1st M In trust) . . c
Great Western perpetual debenture stock________ c 836 H V ar.
Northern R y third preference A & B bonds______c' 490 % J1868
1,1884
Debenture stock 4 % perpetual £ 4 2 5 ,8 5 0 ________
455 /1878
Midland of Canada 1st M sectional £ 5 2 5 ,0 0 0 ____ c'
\1882
Consolidated first mortgage £ 3 ,1 6 4 ,7 0 0 ____
1901
New England Elev 1st M g , gu due $10,000 y r l y ..
----- 1906
Montreal Warehousing 1st M $1 000 000 gold guar.
$1,000 $1,000,000
500,000
1,000
100
684,000
100
1 ,084,000
3,801,000
1,000
2,000,000
1,000
371,000
1,000
1,000
100,000
250,000
1,000
1,000
215,000
1.000
1,508.000
1,000 See text.
246.500
500 &c
300,000
1,000
260.000
1.000
5 ,791.700
100
920,000
1,000
4 ,455.000
1.000
4 ,400,000
1,000
£ 1 0 0 &c £ 3 ,2 0 0 ,0 0 0
£1 0 0 &c £ 1 ,6 4 6 ,0 0 0
£ 1 0 0 &c
See text.
£1 0 0 &c £ 1 .3 5 8 ,0 0 0
£ 1 .0 0 0 ,0 0 0
£ 1 0 0 £22,475,985
9.629,315
£10 0
£100
3,420.000
2 ,530,000
£10 0
7.168,055
£100
4,270,375
£1 0 0
£1 0 0 15,135.981
373,000
£1 0 0
£100
2,723,080
14,600
347,990
426,200
£1 0 0
1,016,500
£100
340,000
1,000
1,000 000
$ & £
For explanation of column headings, & c ., see notes
on first page of tables.
V . 85, p. 221, 530.
Pres., John Skelton W illiam s; S e c., C. T . W illiam s;
T reas., F . E . N oltlng; Gen. M gr., Cecil G abbett.— (V . 85, p. 221, 345, 530.)
O E O R G IA M ID L A N D R Y .— Owns road from Columbus to M cDonough,
G a ., 98 miles.
Leased from July 1 1896, for 99 years to the Southern
Railway Co. for $49,500 annual rental (being Interest on the first mortgage
bonds, &c.) and $2,500 for Columbus terminal property. Stock Is $ 1,000,0 0 0 , owned by Southern Railway Co.— (V . 63, p. 361; V . 82, p. 751.)
G EO R G IA R A IL R O A D .— Under this name are operated the lines leased
from the Georgia R R . & Banking C o., which see.— (V . 67, p. 1260.)
G EO R G IA RR & B A N K IN G CO.— Owns from Augusta, G a ., to A tlan ta,
G a ., 171 m .; branches to W ashington and Ath ens, 58 m .; Macon & Augusta
R R . (proprietary road ), Cam ak, G a ., to M acon, G a ., 74 m .; trackage, 4 m .;
total, 307 miles.
O R G A N I Z A T I O N .— Owns also one-half the stock of the W estern R y . of
Ala. (the Cent, of Georgia R y . owning the other half); also a 4 7 % Interest
In the A tl. & W est Point (which see).
Guarantees (jointly with Cent. R R .
& B. Co. of Ga.) the $ 1 .543,000 first mtge. 4 H per cents of W est. R y. of Ala.
In April 1881 the railroad (307 miles) and its Interest In the other railroad
companies were leased for 99 years to W . M . W ad ley and associates, for the
Cent, of Ga. and the Lou. & N ash ., at $600,000 per year, but In Aorll 1899
the Loulsv. & N ash, was held to have acquired all rights under the lease;
Atlantic Coast Co. July 1899 acquired half Interest. V . 68, p. 722; V . 69.
p. 3 85, 591; V . 7 0 , p. 125. T a x decision, V . 85, p. 160. Car trusts,
$138,994.
D ec. 31 1892 the banking department was turned over to “ Georgia
Railroad B an k ,” a m ajority ($198,200) or whose stock Is owned.
D I V I D E N D S .—
1
’ 81
’ 82
’83 t o ’87
’88
’89 to Oct 1907
Since 1880, % J
9
10 X
10 yearly
10 %
11 yearly
E A R N IN G S (307 m iles).— /1 9 0 7 __________Gross, $478 ,88 8; net, $57,678
July 1 to Aug 3 1 , 2 m os.\1906 __________Gross, 454,4 4 1 ; net, 94,826
Railroad earnings for year ending June 30 1907, gross, $ 3 ,016,958; net.
$472 ,78 4; d iv. received, 57,777; rental to Ga. R R . & B. u o ., $000 ,00 0;
Macon terminals, $24,565; other paym ents, $18,852 ; balance, deficit.
$ 1 6 2 ,8 5 6 .— (V . 82, p. 333; V . 85, p. 160.)
GEO R G IA SO U TH ERN & F L O R ID A R Y .— (See M a p of Southern R y .) —
Owns from M acon, G a ., to Palatka, F la ., 285 miles; on N o v . 1 1902 pur
chased A tl. V . & W . R y ., V aldosta, G a ., to Jacksonville, F la ., 107 miles;
trackage Into Jacksonville, 3 m .; total, 395 miles. Also owns one-eighth
of stock of Jacksonville Terminal Co. V . 77, p. 626.
H I S T O R Y .— A reorganization of the Georgia S. & F . Railroad, sold in
foreclosure April 2 1895.
(Per plan In V . 6 0 , p. 928; see also V . 59, p. 551.)
Macon & Birmingham R y ., La Grange to Sofkee, G a ., 97 m .. Is owned by
same Interests, but operated Independently. V . 78, p. 702.
In Oct. 1903
an Interest In the stock of the Hawklnsvllle & Florida Southern R y ., W orth
to Hawklnsvllle, G a ., 44 m ., was purchased, $310,000 first mortgage 5 %
bonds being guaranteed, prln. and Interest. V . 79, p. 2585.
D IV I D E N D S .— On 1st pref., ’9 6 , 4 % ; ’97 to N ov. 1907, 5 % yearly. On
2d pref., in ’97, 2 % ; ’9 8 , 3 % ; ’9 9 , 3 % ; 1900 to May lo o o , 4 % yearly; N ov.
1 906 , 2 ^ % ; 1907 5 % (M & N ). Common stock is $2,0 0 0 ,0 0 0 .
B O N D S .— First m ort. of 1895 (Abstract, V . 6 1 , p. 429) provides that the
$684,000 lsi pref. stock shall be a lien second only to the bonds and coupons.
The 1st consol. 4s of 1902 are for the authorized am ount of $10 ,0 0 0 ,0 0 0 ,
of which $ 4 ,684,000 are Issuable to retire the $ 4 ,000,000 5s and $684,000 1st
pref. stock, and $3,316,000 are reserved for future needs.
V . 75, p . 980.
L A T E S T E A R N I N G S .— (1 9 0 6 -0 7 ______Gross, $2,2 7 3 ,3 4 2 ; net, $393,134
12 m o s., July 1 to June 3 0 .1 1 9 0 5 -0 6 .. . .Gross, 1,9 4 4 ,9 4 5 ; net, 425,286
A N N U A L R E P O R T .— Fiscal year ends June 30.
Report for 1905-06
was In V . 8 3, p . 1093. In 1 900 -7, gross, $ 2 ,2 7 3 ,3 4 5 ; net, $.''93,135; other In
com e, $15,580; Interest on bonds, & c., $290,440; div. on stock, $ 8 8 ,4 0 0 ;
bal., sur., $29,875.
Pres. W . W . Finley, N . Y . — (V . 8 3 , p. 1170.)
G E T TYSB U R G & H A R R IS B U R G R Y .— Carl sle to GettysDurg, P a ., 31
m .; branch to Round T o p , P a ., 3 m . The Reading Co. owns $540,700 of
the $600,000 capital stock, $535,000 of which deposited as part security for
Its gen. m ort. of 1896. The consol. 5s of 1891 were guaranteed by Phila
delphia & Reading R R . (foreclosed com pany).
O IL A V A L L E Y GLOBE & NORTHERN R Y .— Bowie, A r lz ., to Globe
125 miles. Stock, $ 2 ,0 0 0 ,0 0 0 , of which Southern Pacific Co. owns $ 1 ,9 9 7 ,0 00. V . 71, p. 1314.
Par, $100. The bonds, limited to $15,000 per mile
($1,508,000 outstanding), are guaranteed, principal and interest, by South
ern Pacific Co. V . 69. p. 27; guaranty in V . 68 p. 232.
D I V I D E N D .— Dividend, 1901 , 4 % ; 1902, J an .. 4 % ; In 1904-05, 20 % .
R E P O R T .— In 1905 -06 , gross, $903 ,35 9; net, $227 ,59 1; deductions,
$ 87,9 0 1 ; b a l., sur., $ 1 3 9 .6 9 0 .— (V . 7 9 , p 1460.)
G L E N V IL L E & K A N A W H A R R — T o extend from Glenvllle to W eston ,
W . V a ., 30 miles. Stock authorized, $50,000 ; outstanding, $24,000 ; par,
$50.
In 1907 made a morgage to secure $600 ,00 0 bonds. President,
Lloyd Rinehart, W eston , W . V a .; Vice-Pres, and Gen. M gr., R obt. L.
Ruddell; T reas., C. M . Bennett.
Office, Glenvllle, W . V a .— (V . 84, p. 570.)
G O U V E R N E U R & O SW E G A T C H IE R R .— Owns from Gouverneur to
Edw ards, N . Y . , 13 miles. Stock, $ 3 50 ,00 0, all owned b y N . Y . Cent.—
which guarantees the bonds. See V . 55, p. 810 and V . 56, p. 501.
G R A N D R A P ID S B E L D IN G & S A G IN A W R R .— Freeport to Belding,
M ich., 28 miles. M tge. is for $260,000 on 28 miles and $9,000 per m . for
new construction. Leased for 30 years from Jan. 1 1900 to Pere Marq. R R .
(which owns the capital stock ), rental covering Interest.— (V . 70, p. 39.)
G R A N D R A P ID S & IN D IA N A R Y .— (See M a p s of Pennsylvania R R .)—
Owns from Fort W a y n e , In d ., to Mackinaw C ity, 367 m .; branches, 56 m .;
total owned, 422 miles; operates the following roads, but has not assumed
the old com pany’s leases thereof: Cln. Richm ond & F t. W ayn e R R ., 86 m .;
Traverse City R R . (nearly all the stock and all the Income bonds owned)
26 m .; Muskegon Grand Rapids & Indiana R R ., 37 m .; trackage, 7 m .
Traverse City Leelanau & Manlstlque R R ., Traverse Qlty to N orthport,
M ich., 30 miles; see V . 74, p. 777; V . 76, p. 811; V . 8 2 , p. 9 88, 1098.
H I S T O R Y .— Successor A u g. 1 1896 of Grand Rapids & Indiana Railroad
foreclosed under second m tge. per plan In V . 63, p. 153.
S T O C K .— Stock, $ 6 ,0 0 0 ,0 0 0 , of which Pennsylvania Interests are sup
posed to own all or nearly all.
Penn. Co. on Jan. 1 1907 owned $ 2 ,9 0 2 ,6 0 0 .
[V ol.
Rate
%
When
Payable.
6
& J
J
5 & 6 J
& J
5 in 1907 M & N
5 in 1907 M & N
& J
J
5 g
& J
J
4 g
M & S
4H
A & O
5
A & O
6
Various
5
M & N
5 ff
A
& O
5 g
Various
6
& D
J
5 g
M & S
5 g
3 In 19071A & O
& J
3 H giJ
& J
4« g J
A & O
4 g
3 $ or £ J
& J
4
A & O
4
A & O
A & O
4
4
M & s
4 In 1907iA & 0
5 for ’06 A & 0
5 for '06 A & 0
See text. Y early
5
J & J 14
4
Q— J
6
& J
J
F & A
5
A & O
6
4
F & A
5
M & N
& J
5
J
&
J
3% g J
4
A & O
Where Payable, and by
Whom.
lxxxy
.
Bonds— P rinci
pal, When D u e,
Stocks— Last
Dividend.
Jan 1 1910
Jan 1 1922
N ov 15’ 07 2 K %
N o v i5'07 2M %
July 1 1945
July 1 1952
Mar ’08-Sep ’ 12
April 1 1898
Oct 1 1912
Oct 1 1926
Nov 1 1924
April 1 1937
1928-1929
June 1 1942
Mar 1 1924
Oct 25’ 07 1 X %
July 1 1941
July 1 1941
Oct 1 1936
Jan 1 1962
April 1 1955
April 1 1955
April 1 1955
Perpetual
None ever paid
Check from Co’s Office Oct 25 1907 2 %
do
do
, Oct 25'07 2 H %
do
do
Oct : 5 ’07 2VS %
Apr 26 ’07 3 %
do
do
Irredeemable
Irredeemable
July 1 1919
•Glyn, Mills, Currie & Irredeemable
Co, London
Irredeemable
Irredeemable
May 1 1908
Jan 1 1912
July 1908-1941
Montreal or London
April 1 1936
) A m .E xchan ge N a t .B k .l
/N ew York or Augusta /
M T & D C o , B alt; & N Y
do
do
do
do
do
do
Blair & Co. New York
Reading Office, Phila
Phlla & Read Office,Phlla
do
do
So Pac Co, 120 B ’w a y .N Y
Internat Tr Co, Boston
N Bk Or Co, Goshen, N Y
Grand Cent Station, N Y
International Tr Co, Bost
Office. Grand R ap, Mich
W inslow ,L an & Co, N Y
do
do
Philadelphia. Pa.
Bank of M ont, L o n d& N Y
IC o ’s Office, London, or)
}• Bank of Montreal, jJ
New York
)
9 N Broad S t , London E C
D IV I D E N D S .— 1900, 1 % ; 1901, 2 % ; 1902 to O ct. 1907, 3 % (yearly).
B O N D S .— The 1st m tge. bonds extended at 4Vi % are endorsed with the
guaranty of the Penn. R R . Co. to purchase the coupons as they m ature, and
the bond Itself at m aturity. They have no lien on land grant. See guar
an ty , V . 56, p. 649; V . 69, p. 1193.
Of the seconds $888,000 were owned
Jan. 1 1907 by Pennsylvania R R .
R E P O R T .— Report for 1906 was in V . 84, p . 1050.
In 1906 carried
2 ,9 6 1 ,4 2 0 tons of freight, of which 4 2 % was lum ber, & e ., and 1 4 % coal.
Year ending Dec. 31.
1906.
1905.
1904.
1903.
Miles operated___________
424
424
415
430
Gross income........ .............. $ 3 ,900,605
$ 3 ,605,649
$ 3 ,302,347
$ 3 ,4 0 1 ,6 5 4
N et over exp. & t a x e s .782,094
698,839
621,859
6 9 8 ,8 3 3
Interest charges for 1906, $406 ,46 1; other deductions, $ 89,471 ; dividends
( 3 % ) , $173 730; balance, surplus, $ 1 1 2 ,4 3 2 .— (V . 84, p. 1050.)
G R A N D T R U N K PACIFIC R Y .— (See M a p .) — This new trans-conti
nental railway across Canada has received the approval of the Canadian
Governm ent, and will be carried through with the Joint financial support
of the Government and the Grand Trunk Co. R y. of Canada.
It will
consist of a main line of an estimated length of about 3,550 miles from
Moncton, New Brunswick, to Prince R u p irt, B .C ., on the Pacific Ocean,
about 25 miles south of Port Sim pson, B. V ., with branch, 199 miles, viz.
1 . Leased Line, to be Built by Canadian Government—
M ile s.
Eastern D iv ., M oncton, N .B ., via Quebec to W innipeg, a b o u t. . 1,800
(To be leased for 50 years to Grand Trunk Pac. R y . C o.— for first
7 years at cost of operating only and for remaining 43 years at
3 % on cost of construction, but subject to V . 8 0 ,p. 997.)
2. Western Division, to be Built and Owned by Company—
a. Prairie Section, W innipeg to Rocky M ountains, about---------------1,000
b. Mountain Division, R ocky Mountains to Pacific Ocean, a b o u t .. 745
3. Lake Superior Branch, to be Built and Owned by Company—
Thunder Bay on Lake Superior to junction with Eastern Division
east of W innipeg (to be completed In October 1 9 0 8 ) . . ______
199
Total of all, not Including sundry proposed branches_______ 3,7 4 4
The Lake Superior branch, 199 miles, will be completed In Oct. 1908.
O f the Prairie Section, W innipeg to Edm onton, 790 miles. Is expected to
be completed In 1907.
From Lake Superior Jet. to W innipeg, 245 m iles,
is under construction and contracts have been let on other portions of the
road to be built b y the Government. V . 84, p. 1052.
O R G A N I Z A T I O N .— Incorporated by Canadian Legislature In 1903 .
See full statem ent in V . 80, p. 996; V . 8 1 , p. 1315.
In 1906 application was
granted to Incorporate the Grand Trunk Pacific Branch Lines Co. to build
branch lines and to guarantee bonds to be Issued thereby.
V . 82, p 333.
S T O C K .— Authorized, $ 4 5,000 ,000 (par of shares, $100 each) of which
the $25,000 ,000 com m on will be owned by the Grand Trunk R y.
B O N D S .— On condition that the Grand Trunk R y. Co. of Canada guar
antee 2d m tge. bonds to provide the balance for the construction of the
W estern Division of the line, the Canadian Government undertakes to guar
antee 1st m tge. bonds bearing Interest at 3 % for an amount up to 75 % of
the cost of construction of that division, such amount (a) in the case of the
Prairie Section not to exceed $13,000 per mile, or £ 3 ,2 1 0 ,0 0 0 In all, and
(b) three-quarters of whatever the cost per mile m ay be from the mountains
to P ac.C oast, called Mountain Section. (V .8 0 , p .9 9 6 .1 2 3 4 ; 1363; V . 8 1 ,p .613)
Series “ A ” (Prairie Section) bonds, total issue limited to £ 2 ,1 0 0 ,0 0 0 , and
Series “ B ” (Mountain Section) bonds, not to exceed £ 2 ,0 5 0 ,0 0 0 , are se
cured by a 2d mtge. (National Trust C o., Toronto, trustee) on the railway,
equipment and tolls of the C o., Including Its leasehold Interest In the Eastern
Division, but not branch lines exceeding 6 miles In length, ships, grants of
lands (other than for railway purposes) and the rolling stock of the E a st.D iv .
or of the above-m entioned branch lines of over 6 miles. These bonds are
unconditionally guaranteed as to principal and Interest by endorsement on
each by the Grand Trunk R y. Co. See form In V . 8 0 , p. 996.
Although the mortgage to secure the 3 % bonds guaranteed by the Govern
ment will rank before the mort. to secure the bonds guaranteed by the Grand
Trunk R y. of Canada, yet an agreement schedule to an Act of 1904 provides
In effect that In the event of default by the company for 5 years In pay
ment of the int. on the 3 % bonds, the remedy of the Government shall be to
put In a manager to operate the Western D iv. and to collect and distribute
net earnings parI passu between the holders of the bonds guaranteed by the
Government and the holders of the bonds guaranteed by the Grand Trunk
R y . Co. In the proportion of 75 % of such earnings to the holders of the
Government bonds and 25 % to the holders of the bonds of this division
guaranteed by the Grand Trunk R y. Co.
The mortgage deed to secure the ser. A and ser. B bonds will provide that
separate accounts shall be kept of the tolls, earnings. Incomes, rents and
profits of the Prairie Section and the Mountain Section, and that In the
event of the trustee exercising the right of entry or sale thereby given In case
of default by the c o ., the m oneys arising from each particular section and
available for the purpose shall, subject to the payment of the working
expenditure of the section, be applied first In payment of any Interest or
principal due on the bonds issued in respect of such section.
Lake Superior branch bonds, total Issue limited to £ 1 ,5 5 0 ,0 0 0 , are to be
secured by a first mortgage on all the 220-m lle Lake Superior D iv. and are
guaranteed prln. and int. by Grand Trunk R y. Co.
(V . 8 0 , p. 996.)
D E B E N T U R E S T O C K .— In 1906, $25,000,000 debenture stock was au
thorized, of which $15,000 ,000 (£3,000,000) Interest guaranteed by the
Grand Trunk R y . under certain conditions (see V . 84, p. 5 7 0 ), to be issued
as perpetual debenture stock; of this, £ 1 ,0 0 0 ,0 0 0 was sold in Feb. 1907V . 82, p. 5 6 8 . 1102; V . 8 3 , p. 1 5 5 ,9 6 9 ; V . 84, p. 1050,
G E N E R A L F IN A N C E S .— In Feb. 1905 Speyer Bros. In London. A c .,
offered at 99 M £ 3 ,0 0 4 ,0 0 0 4 % (2d) mortgage sterling bonds due 1955. v iz ..
£ 1 ,6 4 6 ,0 0 0 ser. A (Prairie Section) bonds and £ 1 ,3 5 8 ,0 0 0 Lake Superior
branch bonds, all guar, by the Grand Trunk R y . Co.
(See V . 8 0 , p. 996.)
In Mch. 1905 N . M . Rothschild & Sons offered at 95 £ 3 ,2 0 0 ,0 0 0 1st m tge.
3 % sterling guar, by Canadian G ovt. (V . 8 0 , p. 1234, 1363, V . 8 1 , p. 507).
O F F IC E R S .— Pres. Charles M. H ays, M ontreal, C an.; S e c., Henry
Phillips; T reas., Frank S c o tt.— (V . 8 3 , p. 155; V . 8 4 , p. 5 7 0 ,1 0 5 2 .)
G R A N D T R U N K R Y . OF C A N A D A .— (See M a p .) — Quebec, C an ., via.
Montreal, to Chic., 111.; also to Portland, Buffalo, Detroit, T oledo, &c.
O ct ., 1907.]
I N T E R E S T OR D I V I D E N D S .
R A IL R O A D S .
For explanation of column headings, A c ., see notes
on first page of tables.
M iles
DaC01
of
Road. Bond:
Grand Trunk Western— Northwest Grand Trunk 1st M|
66 1880
1900
1st M $15,000 ,000 int guar gold $ (cur) & £ -----------F 326.5
1900
2d M Income gold $ 1 ,500,000 redeem ( t e x t ) -------Ta; 326.5
Great Northern— Stock $ 2 0 0 ,0 0 0 ,0 0 0 -----------------------------I
-----SiO re trust certs 1,500,000 shares (not a Gt Nor Issue) j
___
St P M & M 2d (now 1st M) g (does not cover l'ds) .c* j
624 1879
1880
D akota Extension first mortgage gold---------Ce.c’ i 1,221
Consol M
fori (now ls t-M on lands) g o ld .-C e f 2,655 1883
$50,0 0 0 ,0 0 0
J
I 2,655 1883
Montana Exten 1st M ($25,000 p m) g-C e .c*& r!
420 1887
Pacific Extension M £ 6 ,0 0 0 ,0 0 0 g o ld _ ..C e .c * & r
818 1890
1901
C B & Q col tr M g(sub to call aft Jan’ 06 at 105) S.c&r
.—
1901
do
do
do
_________ registered..................
1882
Minn U n R R 1st M gold a ssu m ed -------------------Ce.c*
do
do
do
________________________ 3 1882
1888
East of Minn 1st M ($50,000 p m) g ass-----Ce.c*&rj
72
North Dlv M § 1 5 ,000,000 gold ass, red - M e .c '& r !
299 1898
M ont Cent 1st M g ($6,000,000 are 6s) a s s .-C e .c & r !
260 1887
W llim ar & Sioux Falls 1st M g assum (end). Ce. c*& r
205 1888
Mlnneap W est M $1,000,000 g ass (V . 60, p. 835) c*
2 1891
Spokane Falls & Northern 1st M gold assum ed. Ma.c*
132 1889
Gt Nor Ry of Can— See Canadian Northern Que. R y . J
Green Bay & Western RR— Stock (see t e x t)---------------j
1896
Debentures Class A incomes text non-cum -----------c*
1896
Class B Incomes, after 5 % on stock .non c u m .-c *
Greene RR (N Y )— Stock...........................................................
1904
Greenwich & Johnsonville— 1st M $500,000 gold.Sc&r
1899
Guay & Q— 1st M $12,282 ,000 gold guar (t e x t ) .-U s m
Gulf Beaumont & K C— See Atchison Topeka & Santa; Fe
Gulf B & Gt Nor gold p & 1 guar end ( t e x t ) -.A B .c
77 1900
Gulf & Ship Island— Stock $6,000,000 authorized------1902
First refund & terminal M gold sink fund____ N .c*& r
280
1907
Gulf Term, Mobile— 1st M $700,000g gu (te x t)-----C*&rj . .
Hancock & Calumet— See Mineral Range R R .
a $11,502 000 additional pledged for Pacific Extensio n bon ds
d Subject to call after April 1928. a$16,000 old 5s of 189 6 rema
SYSTEM PR O PER.
M iles.
Lines owned_____________________ 2,951
Leased— partly owned.
Atlantic & S t. Lawrence, Port
land ,M e ., to Island Pond, V t . 165
Buffalo & Lake H uron__________ 164
Oincln. Sag. & M ackinaw *____
53
Other lines___________________ _—
202
Size, or
Par
r'alue.
Amount
Outstanding
Rate
%
500 &c
£100
500
100
None
1 ,0 .0
1,0 10
1.000
l.oo o
1,000
£1 0 0 &c
$1,000&C
1,000 &c
1,000
1,000
1,000 &c
1,000 &C
1,000 &c
1,000
1,000
1,000
$563,000
14,437,000
1,500,000
See te x t.
1 ,495,720sh
6,253,000
4,833,000
13,344,000
10.250.000
alO, 155,000
b£4 0 '0,000
1107613000
J
2,150,000
650,000
4 ,700,000
d5,000,000
10,000,000
3 .646,000
500,000
232,000
6
4 g
Up to 4 %
See te x t.
See text.
6 g
6 g
6 g
4H g
4 g
4 g
J 4 g
\ 4 g
6 g
5 g
5 g
4 g
5 & 6 g
5 g
5 g
6
Where Payable, and by
Whom.
Bonds— Princi
pal, When D ue.
Slocks— Last
Dividend.
Jan 1 1910
July 1 1950
July 1 1950
N ov 1 '07 3 X. %
Sept 16 ’07 *1
Oct 1 1909
N ov 1 1910
July 1 1933
July 1 1933
June 1 1937
July 1 1940
July 1 1921
July 1 1921
July 1 1922
July 1 1922
April 1 1908
1928-1948
July 1 1937
June 1 1938
July 1 1911
July 1 1939
100
1,000
1,000
100
1,000
1,000
Feb
Office, 40 W a ll S t, N Y
2,500,000 5 Feb ’ 07
do
do
Feb
600,000 5 Feb ’07
do
do
7,000,000
& D D L & W Off, 26 Exch Pi
200,000
6
J
& J Standard Trust Co, N Y
J
500,000
4 g
& J U S M & Tr C o ,N Y : &Lon
12,282,000
J
6 g
Feb 1 1907 5 %
Feb 1 1907 5 %
•Tune 19 ’07 3 %
Jan 1 1924
Jan 2 1932
1,000
100
1,000 &c
1,000
& J 5 Nassau S t, New York
781,000
J
5 g
Buffalo, N Y
6,000,000 See text.
Q— J
& J Fisk & Robinson, N Y
a4 ,984,000
J
5 g
4 g
■Sc J
New York
J
600,000
July 1
Oct 15
Feb 1
Jan 1
J
J
1930
’07 1 %
1952
1957
b £ 2 ,0 0 0 000 additional held b y Gr eat Northern.
In outsta ndlng.
REPORTED SE PA R A TE LY.
M ajority stock owned.
M iles.
Central V erm ont*_______________ 531
Grand Trunk W estern*________
336
Entire stock owned.
Detroit Grand Haven & M i l * .. 189
Tol. Sag. & Muskegon__________
96
Jointly owned.
79
Detroit & Toledo Shore Line___
N et e a rn in g s............................................ £ 1 ,8 6 0 .2 1 0
T otal net Income____________________ £ 2 ,1 0 0 .9 9 3
R entals.............................................................
£ 1 5 5 ,2 0 6
1 ,070,923
Interest on bonds and deb. stock____
Advances to controlled roads--------------41,537
Dividend on guaranteed stock________ (4)312,411
Do
on 1st preferred s t o c k ______ (5)170,842
Do
on 2d preferred stock_______ (5)126,420
Do
on 3d preferred stock............. (3)214,939
When
Payable.
& J N at Bk of Commerce, N Y
& J Bank Montreal, L o n & N Y
4 % paid 1906-1907
July
Q— F
Office, 32 Nassau S t, N Y
do
do
See te x t.
A & O New York and London
M & N 32 Nassau S t, New York
do
do
& J
J
do
do
& J
J
do
do
& D
J
& J N Y & Lond, Baring Bros
J
& J New Y o rk , etc.
J
O— J
do
do
& J 32 Nassau S t, New York
J
T
&
do
do
J
A & O 32 N a ssa u ,N Y ;L e e ,H ,B o
A & O
do
do
J
J 32 Nassau S t, New York
do
do
& D
J
& .T NT Y & Lond, Baring Bros
J
& J Chase National B k , N Y
J
Total In earnings_____________ 3,535
Total road____________________ 4,766
Car ferry, Grand Haven to Milwaukee. *See separate statement this Co.
A s to Grand Trunk Pacific R y ., see that company above. V . 79, p. 2587.
The company on Sept. 30 1905 began operating Canada Atlantic R y. and
gu ar., prln. and Int., its 4 % bonds. The stockholders are to vote Oct. 24
1907 on am algamating with the G. T . V . 7 9 , p. 967, 1331, 1641, 2455 ,
2620; V . 85, p. 600.
S T O C K , & c.— The authorized capital on Dec. 31 1906 was £ 4 6 ,4 3 6 ,3 6 4
stock (£ 4 3 ,7 5 1 ,3 5 4 issued and £ 2 ,6 8 5 ,0 1 0 unissued); advances from the
Canadian Government In aid of construction amount to £ 3 ,1 1 1 ,5 0 0 .
Per
petual consol. 4 % debenture stock authorized by Act of 1882, and later
A c ts, has been Issued from time to time to acquire securities of companies
consolidated and controlled, amounting Dec. 31 1906 to £ 8 .3 9 6 ,6 8 8 , and
bearing an annual Interest of £ 4 3 4 ,6 8 3 . V . 71, p. 84.
Guar, stock,
£ 7 5 0 ,0 0 0 , was subscribed In 1903 and £ 5 0 0 .0 0 0 in 1904; V . 78, p. 1962.
In 1906 £ 1 ,0 0 0 ,0 0 0 was offered. V . 8 2 , p. 692.
In Feb. 1906 It was pro
posed to apply for authority to guarantee Toronto Union Station Co. bonds.
V . 8 2 , p. 452. Montreal Warehousing guaranteed bonds, V . 8 3 , p. 37.
D IV I D E N D S —
For '98. '99. ’00. ’01. ’02. ’03. ’04. ’05. ’ 06.
4
4
4
4
4
4
4
4
Guaranteed 4 % stock_____
% 2
5
5
5
5
5
5
5
5
% 3
4
5
5
5
5
5
3H 3
% 0
0
0
0
1
2
3
2
0
% 0
A s to dividends on third preferred, see V . 85, p. 405.
E A R N I N G S .— 2 m os.,\ 1 9 0 7 ............. Gross, $6,2 4 2 ,2 5 9 ; net, $1,861,923
July 1 to A u g. 31.
J1906_______ Gross. 5,7 2 8 ,3 5 6 ; net,
1,738,800
For 6 months ending June 30 1907, gross, £ 3 ,3 8 1 ,2 5 0 ; net, £ 8 9 4 ,7 1 5 ,
against £ 8 3 6 ,8 6 0 in 1906; net charges, £ 4 8 0 ,6 8 5 ; advances, £ 9 8 ,7 7 0 ; div.
( 2 % ) on guar, stock, £ 1 6 5 ,2 7 8 ; on first pref. stock (2 J ^ % ), £ 8 5 ,4 2 0 ; on
second pref. (2 H % ), £ 6 3 ,2 1 0 ; adding £ 1 3 ,2 1 3 on hand Dec. 31 1906,
leaves balance to carry-forward June 30 1907, about £ 1 4 ,6 4 0 .
R E P O R T .— Statem ent for 1906 was In V . 84, p . 1049.
Years ending Dec. 31—
1906.
1905.
1904.
Gross earnings_________________________ £ 6 ,6 0 6 ,5 2 8 £ 6 ,0 1 8 ,0 0 1 £ 5 ,6 8 9 ,1 3 0
Transportation expenses______________ 4,7 4 6 ,3 1 8
4 ,2 6 9 ,1 5 3
4 ,100.660
£ 1 ,7 4 8 ,8 4 8 £ 1 ,5 8 8 ,4 7 0
£ 1 ,9 5 1 ,2 3 2 £ 1 ,7 8 7 ,2 3 2
155,206
1 5 5 ,2 0 6
1,071,144
1,070,505
11,070
4,807
(4)275,358 (4)255,532
(5)170,842 (5)170,842
(5)126,420 (5)126,420
(2)143,293
B a la n c e ___________________ ______ —
su r.£8,714
d e f.£2,101
sur.£3,920
O F F IC E R S .— Pres., Sir C. Rivers W ilson, London: 2d V .-P . and Gen.
M gr., Chas. M . H ays.— (V . 84, p.JH049; V . 85, p. 4 05, 468, 600.)
G R A N D T R U N K W E S T E R N R Y .— (.See M a p Grand Trunk R y .) — Owns
from Port Huron, M ich, to Chic. & W est. Ind. R R ., 330 m ., and trackage
Chic. & W est. In d ., 5 m .; total, 335 m . Stock, $6,0 0 0 ,0 0 0 , all owned by
Gr. Trunk. Successor (V . 69, p. 954; V .7 1 . p .28) of Chl.& Gr. Tr. foreclosed.
B O N D S .— The Grand Trunk unconditionally guarantees the Interest on
the new 4s.
Of the 4s, $563,000 are reserved for Northw. Gr. Trunk 6s.
T h e new Incomes are subject to call at 85 and any Int. then due, within the
first 10 years. Int. on Incomes, 1 % paid.on July coupons In 1902 to 1905,
I n d .; 4 % in 1906 and 1907. V . 83, p. 687. Jointly with Toledo St. Louis
& Western guarantees Detroit & Toledo Shore Line bonds. V . 76, p. 653.
E A R N I N G S .— 2 m os.,\ 1 9 0 7 ___________ Gross, $1 ,1 3 4 ,3 8 1 ; net, $182,007
J u l y 1 to A u g. 31.
J1906___________Gross, 1 ,020,506; net, 151,836
Year ending June 30 1906, gross, $ 5 ,350,926; net, $907,531; charges,
$814 ,66 1; 4 % an Incomes, $60,000 ; repayment int. advanced b y Grand
Trunk R y . at Jtthe 30 1901, $30,278 ; sur., $ 2,592.
(V . 83, p. 687.)
G REAT NORTHERN R Y — (See M a p s .)— Operates a line from St. Paul,
M inn., via Spokane, W a sh ., to Lowell, W ash , on the Pacfic coast, with
coast line to Seattle, and numerous branches In Minnesota, Nebraska, North
and South Dakota, M ontana, W ashington and Manitoba, aggregating,
June 30 1906, 6,290 miles.
Lines owned in fee.
M iles. | Lines owned in fee.
M iles.
S t. Paul, M inn., to Lowell,
D uluth, M inn., to Laramie, N o.
W a s h ...............................................1,790
D ak ................................................... 325
Seattle to Vancouver___________ 156 Pacific Jet.. M ont., to B u tte___ 351
W llim ar, M inn., to Yankton,
St. Paul, M inn., to Grand Forks
So. D a k .......................................... 205
N o. D ak _______________________ 324
Garretson, So. D ak., to Sioux
Various branches........................... 2,731
City, l a ., and O ’ Neill, N e b - . 208
Spokane, W a s h ., to N elson,B .C 200
Total June 30 1907.................... 6,290
12d &c. tracks & sidings________ 1,474
During 1905-06 152 m . of extensions were completed and 301 m . addi
tional were opened during 1906; grading on 199 m . was begun June 1 1906
and 44 m . had been graded, but no track was laid thereon until spring of
1907.
V . 83, p. 1104. A s to Portland & Seattle R y ., 423 m .t to be built
Jointly with N o. P a c., V . 8 1 , p. 1100; V . 83, p. 1111.
In April 1906 C ana
dian lines were proposed by allied Interests from W innipeg westward to
Vancouver, aggregating about 1,300 m iles, to be completed in about 2 years
V . 81, D. 669; V . 82, p. 9 28, 1156, 1268.
O R G A N I Z A T I O N .— The stockholders voted O ct. 10 1907 to acquire the
S t. Paul Minn. & M an., Eastern R y . of Minnesota, and other roads hereto
fore controlled. V . 85, p 600.
r.i
RAILWAY STOCKS AND BONDS.
L A N D S .— Sales for year 1905-06 were 3,270 acres for $32,095 and 30
town lots for $ 1,770. The net am ount due on land contracts June 30 1906
was $902 ,66 2, lands unsold. 810,814 acres, to be reduced about 650,000
acres bv a final adiustment with U . S.
S T O C K .— In Oct. 1905 tbe authorized stock was Increased from $125,000,000 to $150,000,000 and In Jan. 1907 to $21 0 ,0 0 0 ,0 0 0 .
Outstanding
Oct 1907, $149 ,5 8 2 ,5 0 0 .
In O ct. 1898 the stockholders surrendered the
right to issue common stock, all stock being “ of a single class with uniform
rignts and privileges.”
Stockholders in Jan. 1907 were offered the right to subscribe for $ 6 0 ,0 0 0 ,000 new stock pro rata at par, payable as follows: 1907— A p r., 9 40 % ; M ay 7 ,
5 % ; June 7, 5 % ; J u ly 8, 5 % ; A u g . 7, 5 % ; Sept. 6, 5 % ; Oct. 7, 5 % ; N ov. 7
5 % ; Dec. 6. 5 % .
1908— Jan. 7. 5 % ; Feb. 6, 5 % ; Mch. 6, 5 % ; Apr. 7,
5 %.
Proceeds will be used for additional equipment, extensions, to acquire
securities of subsidiary cos., &c. V . 83, p. 1469; V . 84, p. 749, 803.
The Union Pacific system in Mch. 1907 owned $9,036,400 stock. V . 83,
p. 1332, 1322; V . 84. p. 509.
D I V I D ’ D S , \’92 t o ’96 (Indus.) ’ 97. ’ 98. '9 9 . ’ 00. ’ 01. 1902 to N o v .’ 07.
G t. N orth.]
5 % yearly.
5 H 0'A
7
7 7J4 7 % yearly, Q -F .
Also In 1898 50 % in Seattle & Mont. stock, which was then exchanged
for 4 0 % in G t. N or. pref. V . 66, p. 1044, 1188; V . 74, p. 829.
In M ay.
1901 Yi % and in N ov. 1907 lk i % was paid from earnings of Lake Superior
Co. V . 85, p. 921. And in Dec. 1906, unit for unit, 1,500,000 shares
of beneficial interest In the iron ore properties. See General Finances”
below.
B O N D S .— St. P . Min. & Man. consol, mtge. of 1883 Is for $ 5 0 ,0 0 0 ,0 0 0 , of
which bonds are reserved to pay prior liens. It Is a first lien on the land
grant and on 670 m . of railway in Minn, and a second lien on the remaining
1.873 miles in Minn, and the Dakotas, the prior liens on which average only
$5,900 p. m . V . 64, p. 518. M ontana E xt. m tge. is for $ 2 5,000 ,000 for
extensions and for second track. Abstract, V . 45, p. 342.
Pacific Extension mtge. £ 6 ,0 0 0 ,0 0 0 provides for bonds at £ 6 ,0 0 0 per
mile in Montana and £ 7 ,0 0 0 per mile west of Montana; £ 3 ,0 0 0 ,0 0 0 of thlg
Issue (of which £ 1 ,0 0 0 .0 0 0 sold) were released upon paym ent of collateral
trust bonds Sept. 1 1898. V . 66, p. 1044, 1188; V . 80, p. 1111, 1 1 7 4 .
See ab»tract of mortgage, V . 52, p. 82.
In 1904 the G t. Northern and Nor. Pac. had acquired $107 ,61 2,60 0 of tho
Chicago Burl. & Quincy R R . $110 ,83 9,10 0 stock, In exchange for their
Joint 20-year 4 % gold bonds, secured by the deposit of the stock In trust,
on basis of $200 In bonds for each $100 stock. See circular, V . 72, p. 8 7 1 ,
1034, 1135, and application to list V . 73, p. 294, 903; V . 85, p. 600.
Eastern Railway of M innesota.— First mtge. covers road, equipment, ter
minals and elevators. The Northern D lv. $ 1 5,000 ,000 m tge. of 1898 pro
vides for extension built from Fosston, M inn., to the head of lake naviga
tion at Duluth, and also for future requirements. Including the retirement of
the $4,700,000 1st 5s at m aturity. They are redeemable at 105 on three
m onths’ notice after April 1 1928. V . 66, p. 471. Montana Central bonds
cover several roads. (See adv. “ Chronicle” Dec. 12 1891.)
The Manitoba
guarantees these Issues, and G t. Nor. assumes guar. See gu ar., V .7 4 , p .680.
The Wllimar A Sioux Falls bonds are endorsed with Joint and several
guar, of the M anitoba and G t. N or. companies. Further Issues m ay be made
at $17,600 per mile for additional road. V . 56, p. 247.
M inneapolis Western first m tge. Is for $ 1 ,0 0 0 ,0 0 0 . V . 60, p. 835.
G E N E R A L F IN A N C E S .— Total funded debt per mile of main track
(4,829 miles) In the hands of the public June 30 1906, $20,756.
V . 8 3 , p.
1107. Trainload, 1905-06, 529 tons, against 522 in 1904-05.
Stockholders in N ov. 1905 subscribed for $25,000 ,000 stock at par and
In Jan 1907 were offered the right to subscribe for $60,000 ,000 stock at par,
payable in installments to April 1908. See ST O C K above.
In Oct. 1906 a contract was signed for a lease of the ore lands to the U . S
Steel Corp., to continue until the ore is exhausted, unless the lease is termi
nated on Jan. 1 1915 under the option reserved to the Steel Corp., on a roy
alty basis of $1.65 per ton standard ore with 3.4 cts. per ton increase each y r.;
minimum tonnage to be mined, 750,000 tons during 1907, with 750,000 in
crease each year until 8 ,250,000 is reached. The iron ore properties were
transferred to Louis W . H ill, James N . H ill and W alter J. H ill as trustees,the
1,500.000 shares of beneficial Interest in the trust equal to the number of
shares of stock held being Issued Dec. 1906 to Great Northern stockholders.
The profits from the Iron properties, after first deducting the 80c. per ton
payable to the G t. Northern R y for carrying the ore to the docks on Lake
Superior will be distributed along with any profits from other ore leases
at least once a year to the holders of the trust certificates.
See V . 83,
p. 818, 969, 1228, 1290; V . 84, p. 635, 693, 749, 996.
First dlv. on ore
certs., $1 per share, paid Sept. 16 1907. V . 85, p. 530.
E A R N I N G S .— Great Northern system (Incl. St.. P. M. & M ., Eastern of
Minn, and Montana Central) July 1 1907 to Sept. 30, 1907, 3 m onths,
$15,345,651 , against $17,072 ,623 In 1906.
A N N U A L R E P O R T .— Report for 1906-07 in “ Chronicle” of Oct. 26 Or
N ov. 2.
Preliminary statem ent for 1906-07, In V . 85, p. 1005, gave statistics of
traffic, and showed gross earnings of railway system proper, $ 5 5 ,1 4 4 ,4 0 2 ,
against $51,276 ,280 in 1905-06, as per table (2), next page; total Including
proprietary companies, $57 ,2 2 3 ,2 9 9 , against $ 5 3,076 ,661 ; net earnings of
entire system over taxes, $ 2 1,292 ,524 , against $24,400 ,562 .
(1) G R E A T N O R T H E R N IN C O M E A C C O U N T .
Year ending June 30—
1906.
1905.
1904.
Net earnings S t. P. M . & M an________ $21,520 ,668 $18,816 ,731 $16,6 7 9 ,9 7 3
Interest on bonds owned______________
397,406
3 9 2,227
395,896
Dividends on stocks ow ned___________
965,247
973,325
751,340
Rentals of leased lines________________
123,824
119,851
119,751
Bills receivable________________________
2,709
4,013
1 ,4 9 2
General Interest and other Income___
713,117
891,144
354,296
Total r e c e ip t s .......................................... $23,722 ,970 $21,197 ,291 $ 1 8 ,302 ,748
Paid rental St. P. M. & M an_________ $ 4 ,107,095
$4,001,555
$ 3 ,973,603
Great Northern d ivid e n d s----------------- (7)9 ,1 4 8 ,5 2 0 (7)8 ,6 9 3 ,8 0 0 (7)8 ,6 8 3 ,9 2 5
Interest on sterling loan _______________
151,875
364,500
212,625
Renewal, & c ., funds___________________
5 ,130,911
3 ,0 0 0 ,0 0 0
2 ,0 0 0 ,0 0 0
B a la n c e , su rp lu s............- ..........................-
$ 5 ,1 8 4 ,5 6 9
$ 5 ,1 3 7 ,3 7 6
$ 3 ,4 3 2 ,5 9 5
ea
RAILWAY STOCKS AND BONDS
[V o l.
lxxxv
.
/
o o u , 1907.j
RAILWAY STOCKS AND BONDS.
03
64
RAILWAY STOCKS AND BONDS.
[V o l .
m ost
.
OCT.. 1907.]
RAILWAY STOCKS AND BONDS.
SHO RT,
65
I
RAILWAY STOCKS
66
I N T E R E S T OR D I V I D E N D S .
R A IL R O A D S .
F or explanation of column headings, & c .. see notes
on first page of tables.
Date
M iles
of
of
Roa<t. Bonds.
Hannibal & St Joseph— See Chicago Burlington & Qul
22
Harriman & Northeastern— First mortgage gold-----Ce
53
Harrisburg Portsmouth Mt Joy & Lane— Stock 7 % gu
53
First M (extended In 1883) guar p & 1 Pa R R .Q P J
124
Hartford & Connecticut W estern— Stock_______ - _____
124
First mortgage extended In gold In 1903____________
44
H aw kinsv & FI So— 1st M $400.000 gold guar p & 1
Henderson Bridge Co— See Louisville & Nashville R R .
4H
Hibernia Mine RR— Stock_______________________________
Hocking Valley Ry— Stock com m on $ 1 1 ,0 0 0 ,0 0 0 ____
Stock preferred non-cum (see text) subject call at par
76
Columbus & Hocking Valley first m ortgage g old . .c *
118
Col & Tol 1st M gold exten 1905 (V . 8 1 , p. 2 l l ) ...S .c *
85
Ohio & W est V a 1st M (Logan to Pom eroy)_____ c*
346
First consolidated mortgage $20,000 ,000 gold — Ce
Equipm ent note* payable m onthly_______________
Car trusts gold $ (0 ,0 0 0 seml-an (V 7 5 , p. 7 4 1 ) -----S
Equip notes gold Ser A due $23,000 s e m l-a n n .. Usm
do
do Ser B due $48,000 sem i-annually. .
do
do Ser C due $37,000 sem i-annually___
do
do Ser D d u e$ 2 0 ,0 0 0 s-an (V.85,p.600)i
Bonds of coal companies guaranteed. See Sunday Creek
To be issued and assumed under consolidation plan.
Stock authorized, $ 1 3 ,7 5 0 ,0 0 0 _______________________
General lien mortgage $30,000 ,000 gold___________
164
Kanaw ha & Michigan first m ortgage__________Ce.c*
Hoosac Tunnel & W ilm ington— Stock______________
'2 5
First mortgage $250,000 a u th .g o ld -----------------------OB
Houston Belt&Term— 1st M $ 5 ,0 0 0 ,0 0 0 g redlOotextCe
191
tlo u i E & W Tanas— 1st M gu p & 1 by So P a c -.U n .c *
191
1st M $ 3 ,000,000 g not gu aranteed______________
75
Houston & Texas C RR— State of Texas pr lien 1st 75m
453
1st M 1 gr g red 110 lnt guar________________ Ce.c*& r
453
Cons M land grant gold red at 110 lnt g u a r .. F.c* &r
453
General mortgage gold Interest guar end. .M p .c * 4
58
W a co & N W Div 1st M g $25,000 p m _ .C e .c * & r
103
A ustin & Northwest 1st M gold guar p & l .M p .c ’ &r
41
F t W orth & New Orleans 2st M (W a x to Ft W orth)
12
C Tex & N W 1st M guar So Pac (Gar to W a x ) ___F
Size, or
Par
Value.
$23 651,761
509,862
207,195
18,244
13,500
1853
1883
1902
1.000
1,000
100
100
100
100
500 &c
1867
1,000
1875
1,000
1880
1899 1.000 &c
’OO-’Ol Various
1,000
1902
1,000
1907
1,000
1907
1,000
1907
1,000
1907
Co und e r “ Indu
100
1906
1890
1892
1907
1893
1893
1870
1890
1890
1890
1900
1891
1895
1881
1.000
100
1.000
1,000
1 ,000
1,000
T .o o o i
1,000!
1 000
1,000;
1,000!
1,000!
1 .oool
$1,334,422 $24,986 ,183
64,770
574,633
9,983
217,177
81
18.325
13,500
T o t. for system ............ $ 53,076,661 $24,400 ,562
$1,409 256 $25,809 ,818
From this last result ($25,809,818) In 1905-06 paid total Interest charge
of all companies, and guar’d dlvs. on St. Paul Minneapolis & Manitoba
stock, & c., not owned, a total of $ 8 ,1 8 7 ,7 7 0 , and dividends of $9,148,521
on the stock of the Great Northern R y. Co. and $5,130,911 for appropria
tion for renewal. Improvement and equipment funds.
O F F IC E R S .— Chairman, James J. H ill, St. Paul; President, Louis W .
H ill, St. Paul; 2d V .- P ., R . I. Farrington;3d V .-P .a n d Sec., E . T . Nichols,
N . Y . ; 4th V .- P ., B . Cam pbell; Treas. and A sst. Sec.. E . Sawyer, St. Paul;
A sst. Sec. and Asst. Treas., N . Terhune. N . Y . otflce, 32 Nassau St.
Directors— J. J. H ill, Frederick Weyerhaeuser, E . Sawyer, Frank E.
W a rd . R . I. Farrington, H . W . Cannon, Samuel Thorne, Louis W . H ill,
W m . B . D ean.— (V . 84, p. 996; V . 85, p. 4 05, 530, 600, 7 9 3 , 1005 )
O REEN B A Y & W E STE R N R R .— Road owned from Green B a y , W ls ..
to M arsh lan d,W ls., 209 miles; branches, 13 m .; trackage to W inon a, 4 m.
H I S T O R Y .— A reorganization June 5 1896 (per plan In V . 6 1 , p. 471) of
the Green Bay W inona & St. Paul, sold In foreclosure May 12 1896. Pro
tective com mittee, V . 84, p. 220.
S E C U R IT I E S .— There are no fixed charges on the property other than
taxes, nor can any be placed thereon, or the property be sold or leased w ith
out consent of 75 % of stock. Class A debentures are entitled to 2 H % In
terest, If earned, then com . stock to 2 1 4 % , then the two share ratably: but
after 5 % has been paid on both, class B bonds are entitled to all surplus
■earnings. See V . 61, p. 471.
D IV I D E N D S .—
1 ’ 98. ’99. ’ 00. ’01. ’ 02. ’ 03. ’04. ’05. '0 6 . ’07.
C lass " A ” debentures____ %\ 2*4 2 H 214
3
4
4
4
5
5
5
S t o c k ........................................%J . . . 1 H 2 H
3
4
4
4
5
5
5
R E P O R T for year ending Dec. 31 1906, In V . 84, p. 689, showed:
Y r.
Gross.
Net.
Ta xes,A c. Debenture A .
On stock. Bal.,sur.
1906 .$ 6 3 6 ,1 2 1
$237 ,35 6 $21,461
(5 % )$ 3 0 ,0 0 0 (5 % )$ 1 2 5 ,0 0 0 $60,894
1905 . 586,420
210,837
18,924
(5 % ) 30,000 ( 5 % ) 125,000 36,913
From balances as above were paid $30,000 yearly for general improvement
fund and In 1906 $25,000 for special (back) tax fund.
D IR E C T O R S .— S. S. Palm er, Pres.; Mark T . C ox, Sec. and T reas.. 40
W all S t.; C. Ledyard Bla r. J. A . Jordan, W . J. H unt.— (V . S4, p 689.)
Q REEN E R R .— Owns road from Chenango Forks to Greene, N . Y . , 8
■miles. Leased to Delaware Lack. & W . for term of charter for 6 % on stock.
Capital stock, $200 ,00 0; par, $100.
The $200 ,00 0 7 % bonds which m a
tured Dec. 1 1902 are held In the D. L . & W . treasury.
G R E E N W IC H & JO H N S O N V IL LE R R.— Owns from Schuylervllle to
Johnsonville, 21 miles.
Extension from Greenwich northeast to R exlelgh, 10 miles, is under construction.
Stock, *225 ,0 0 0 , of which the Dela
ware & Hudson Co. owns $175 ,00 0, acquired In 1906. V . 84, p. 626. Bonds,
see table above.
For year ending June 30 1907, gross. $92,366: net. $33.920; Interest on bonds, $20,233 : dividend ( 4 % ) . $9,000; bal.. sur.. $4,0 8 7 .
P r e s., I. C. B landy
Office, Greenwich, N . Y . — (V . 85, p. 40.)
G U A T E M A L A R Y .— V . 7 6 , p. 265; V . 7 8 . p . 9 8 8 , 1497; V . 79. p. 902
G U A Y A Q U IL & Q UITO R Y .— (3 J^-ft. gau ge.)— Projected from G uaya
quil to Q uito, Ecuador, about 286 miles, with two branches. Of this, 204
m iles, from Guayaquil to A m b ato, are In operation and remaining 82 miles
expected to be In 1907.
V . 81, p. 556; V . 83, p. 1170.
Stockholders and
bondholders on July 25 1907 approved the proposition to use the $ 4 30 ,00 0,
th e amount o f the July coupons advanced.by the Government of Ecuador,
In completing the road.
V . 85, p. 160, 221.
Stock authorized, com ., $7,032 ,0 0 0 : pref., 7 % cu m ., $ 5 ,2 5 0 ,0 0 0 .
The
bonds are guar. prln. and Int. by the Government of Ecuador, secured by a
Orst lien on all the Customs duties of the latter, it receiving In consideration
4 8 % of the com . stock.
Interest In London Is payable at G lyn, Mills, Cur
rie & Co. All the bonds are purchasable for a s. f. of 1 % yearly, and In ad
dition $ 1 ,014,000 (of which $417,000 are now outstanding) are subject to
callat par for a special sink, fund; bonds In sink, fund Jan. 1907, $ 1 ,9 0 0 ,0 0 0 .
For calendar year 1904 earnings were: Gross. £ 6 8 ,0 4 9 ; cash from Govern
ment of Ecuador to pay Interest on bonds, £ 1 2 1 ,3 4 8 : total, £ 1 8 9 ,3 9 7 ; oper.
expenses, £ 6 7 .6 0 0 ; Interest on bonds, £ 1 2 1 ,3 4 8 ; b a l., su r., £ 4 4 9 .
Pres., ArcherHarman; V .- P ., T . H . Powers Farr, New York; Sec. and
T rea s., John J . G*nnane. N . Y . office, 23 Broad S t .— (V . 85, p. 221.)
G U L F BEAU M O N T & K . C . R Y — See Ateh . Top. & S. F.
G U L F & INTER STATE R Y .— See page 178.
G U L F LINE R Y .— Owns Ashburn, G a ., to Brldgeboro, 32 miles; track
age, A sh bu m to W orth , 6 miles; leases (to April 1 1953, with option to pur
chase) the Hawklnsvllle & Florida Southern, Hawklnsvllle to W orth, 44
miles; total, 79 miles.
Proposed line will extend from Hawklnsvllle to
B ain brldie, G a ., about 130 m iles, and extension projected from latter point
to the Gulf, about 100 miles.
It Is projected eventually to build from
A u gusta, G a ., to the Gulf of M exico, with trackage rights to A tlanta.
V . 84, p. 1247.
Incorporated In June 1907 and acquired the Flint River
& Gulf.
Stock authorized, $ 4 00 ,00 0.
Bonds authorized, $325 ,00 0 30-year
gold 5s, A tlanta (Ga.) Trust C o ., trustee.
Pres., C. A . Alford; Sec. and
Treas., C. H . Reynolds, Sylvester, G a.— (V . 85, p. 221, 600, 921.)
G ULF & SH IP ISL A N D R R .— Owns road from Gulfport, on Missis
sippi Sound. G ulf of Mexico, to Jackson, M iss.. 160.5 miles; Columbia
division. Maxle to Mendenhall, 104.75 miles.
Branch from Saratoga to
Laurel 41.75 miles; total, 307 miles. Important harbor Improvements
A mount
Outstanding \
$100 &c
50
500 &c
1895
(2)
O P E R A T IO N S O F W H O L E S Y S T E M .
Oth. Inc.
Tot. net Inc.
Year. end. June 3 0 ’06.
Gross.
Net.
$1,298,802 $ 2 2 ,819 ,470
G reat Northern R y ______$46,259 ,550 $21,520,668
2 7,426
1,329,515
Montana Central R y ___
2 ,840,227
1,302,089
7,912
766,184
W ill. & Sioux Falls R y . .
2 ,017,922
758,271
282
71,015
D ul. W ater. & Pac. R y .
158,581
70,733
To t. R y . sys. p ro p er..$ 5 1 ,2 7 6 ,2 8 0
Spok. Falls & N o. s y s . . .
1,412,244
Minneapolis U nion______
290,664
Minneapolis W estern___
59,882
37,591
D uluth Term inal_______
[V o l .
BONDS.
Rat*
%
i When
Where Payable, and by
j Payable,|
Whom.
$300,000
1.182,550
700.000
2,965,500
700.000
325.000
6 g
J
& J Central Trust Co, N Y
In ’07 J
& JlCom pany’s Office, Phlla
4
J
& J!
do
do
2
F & A 31 Hartford
**7*1
J
CG
d
U
4
H
J
&
Jl
dU
o
5 g
|A & O iU n io n S a v B k &TrCo,CIn
200 000
See Central of New Jersey
J P Morgan & Co, N Y
do
do
do
do
do
do
do
do
do
do
do
do
do
do
New York
New York
Chicago
11,000
15,000
1,401
2,441
1,584
14.114
92
720
437
912
703
200
strlals.’
000 See text.
000 4 in 1907
& O
000
4 g
& A
000
4 g
000
7
& N
000
& J
4H g
Various
4921 I5 & 6
000
4 H S !m & N
4
,0 0 0 ;
F & A
iF & A 15
4
,000
,000 A & O
& J
4
,ooo|
1 3 ,7 5 0 ,0 0 0 !..................
17,000,000!
4 g
2,469.000!
4 g
250,000 See text.
244,000
5 g
5 g
See text.i
2,199,0001
5 g
.8 0 1 ,0 0 0 1
5 g
6
See text.
3.339.000
5 g
1,570,000!
6 g
4,275,000:
4 g
1,105,000,
6 g
1.920.000
5 g
709,000!
6
180 000!
6
lxxxv.
Bonds— Princi
pal, When D ue.
Stocks— Last
Dividend.
Jan 1
July 10
July 1
Aug 31
1
oJuly
u iy
1952
1916
’07 3J*
1913
1907 1 %
1923
Oct 10 ’ 07 3 %
July 15 1907294
July 15 1907 2 %
Oct 1 1948
Aug 1 1955
May 1 1910
July 1 1999
To July 1908
May 0 8 -M a y ’ 12
Feb ’0 8 -F e b ’ 17
To Feb 15 1917
To April 1 1917
Jan ’08-July ’ 12
July 1 1936
&
J
J
April 1 1990
& O !Central Trust Co, N Y
\t
1905-1906 3 %
See te x t. W ilm ing to n, V t.
& S Old Colony Tr Co. Boston Sept 1 1922
July 1 1937
& J
“
M ay 1 1933
& N ;120 Broadway, N Y
iM
!May 1 1933
M & N
do
do
(Annually
Houston, Texas.
120 Broadway, New York jjuly 1 1937
Oct 1 1912
do
do
April 1 1921
do
do
A & O
IMay 1 1930
do
do
!M & N
July 1 1941
do
do
J
SDec 31 1925
do
do
J
lA
i120 Broadway, New York Oct 1 1911
r
have been constructed at Gulfport, Including an extensive system of docks,
piers, &c.; also a channel 7 miles long extending to deep water.
S T O C K .— Capital stock, $6,00 0 ,0 0 0 (par of shares ,$ 1 0 0 ), all outstand’g .
D IV I D E N D S .— A p r. 1903 to Oct. 1907, 4 % yearly (Q .-J .).
B O N D S .— O f the first5s ($5,000,000 authorized), $4,984,000 are outstand
ing, remaining $16,000 being reserved to retire a like amount of old bonds
still outstanding. A sink, fund of 1 % yearly, which became operative Jan.
2 1905, m ay purchase bonds at not exceeding 110, but the latter cannot be
drawn, bonds so purchased to be kept alive in sinking fund as an Investment.
To July 1907 $152,000 had been purchased. See V . 74, p. 426, and appli
cation to list, V . 7 4 , p. 1257; V . 81, p. 264. Car trust notes June 30 1907.
$335 ,21 0.
E A R N I N G S .— 12 m o s .,11907........ ............Gross, $437 ,62 8; net, $117,945
July 1 to A u g. 31.
J1906___________ Gross,
394,224 ; net,
89,907
R E P O R T .— R eport for year ending June 30 1907 was In V . 85, p. 860.
Year—
Gross.
N et.
Oth. Inc. Charges.
Balance.
1 9 0 6 - 0 7 ......................$ 2 ,4 8 5 ,9 8 9
$661,991
$24,564
$309,083
$317,472
1 9 05 -06_______________ 2 ,138,779
681,668
25,392
305,784
401,275
Pres., J. T . Jones, Buffalo, N . Y . — (V . 85, p. 793, 860.)
G ULF TE R M IN A L C O ., M O B IL E .— Owns union passenger station and
approaches at Mobile, A la ., leased by the Southern R y . and Mobile & Ohio
R R ., which own the stock and guarantee the bonds jointly and severally,
principal and Interest, by endorsement. Franklin Trust C o ., N . Y . , Is
mortgage trustee. V . 84, p. 50.
H A R R IM A N & N OR TH EASTER N R R .— Harriman to Petros, T e n n ., 22
miles. In Jan. 1903 entire stock acquired In the Interest of the Cincinnati
New Orleans & Texas Pacific R y ., but Is operated separately. V . 76,
p. 157. Stock, $600,000.
Year to June 30 1906, gross, $115,339; net,
$44,951 ; charges, $ 3 1,253 .— (V . 76, p. 212.)
H AR TFO R D & CON NECTICU T W E STE R N R Y .— H artford, C on n ., to
Rhlnecllff, N . Y . , 110 miles, and branch, 14 miles. Leased till A u g. 1940
to Central New England R y . (now controlled by New York New H aven &
H artford R R . ) , the rental paying charges and 2 % per annum on the stock,
($2,965,500 outstanding), of which $1,640,000 owned by lessee. The stock
holders voted Aug. 24 1906 to increase the stock by $ 2 30 ,00 0, the new
stock being given to lessee to reimburse It for advances. Increasing am ount
as above. V . 8 3 , p. 1290. — (V . 7 6 . p. 1084; V . 83, p. 95, 213, 1290.)
H A W K IN S V IL L E & F L O R ID A SO U TH ER N R Y .— W orth to Hawkinsville, G a ., 44 miles.
Leased May 1 1907 to Gulf Line R y. until April 1 1952.
with option of purchase.
V . 84, p. 1247. Stock, $ 1 00 ,00 0, of which onehalf acquired in April 1904 by Georgia Southern & Florida, which guarantees
bonds (see table a b o v e), principal and Interest.
Year ending June 30 1907,
gross, $55,174 ; net, $ 8,247; total deductions, $13,542 ; balance, deficit,
$ 5,2 9 5 .
Pres., S. F. Parrott; Treas., W . P . Hopper, Macon, G a .— (V . 84,
p. 1247.)
H IB E R N IA M INE R R .— Owns from Rockaway, N . J .. to Hibernia
Mines, N . J ., 4 M m . Leased to Central of N . J. In 1890 for $12,000 per an.
H O C K IN G V A L L E Y R Y .— (See M a p .) — This com pany owns main line
from Pom eroy, O ., to W albrldge, O ., 250 miles, with trackage (Penn. R R .
System) W albrldge to Toledo, 6 miles; branches to Athens, Nelsonvllle,
e tc., 73 miles; leases W ellston & Jackson Belt, McArthur June, to Jackson,
18 m .; total, 347 m; second track, 47 m.
Under the proposed consolidation
with the Kanawha & Michigan (see below ), 169 miles will be added to
the system , making a total of 516 miles operated.
H I S T O R Y , &C.— Successor Feb. 25 1899 per plan V . 6 8 , p. 231, of
Columbus Hocking Valley & Toledo R y ., foreclosed. The coal lands, from
which the bulk of the business Is derived, aggregate about 20,975 acres,
and are covered by the consolidated mortgage.
In 1899 acquired control
of Toledo & Ohio Central R y. (which see) by purchase of entire Issue of
$ 8 ,421,000 Middle States Construction Co. collateral 3s, which are secured
by deposit of the entire stock of the Toledo & Ohio Central R y ., except
$54,100 com m on and $11,600 preferred (See V . 6 9 , p. 1345). but that road
Is ooerated separately. See ST O C K below.
C O N S O L ID A T IO N P L A N .— A plan lor consolidation with the Kana
w ha & Michigan R y. in V. 83, p. 271, 3 23, contemplates the retirement
of the preferred stock and the creation by the consolidated company of a
new general lien 4 % mortgage providing for refunding at a lower rate of
Interest outstanding equipment obligations and floating debt of both com
panies. The new’ mortgage (authorized issue $30,000,000) will also fur
nish resources for betterments and Improvements, so that the net earnings
of the consolidated company m ay be available for dividends. Time to de
posit stocks under the plan has been extended to March 1 1908.
Held b y ------- To he Given-------For each $100 share—
Public, A c . New Bonds. New Stock.
Hocking Valley R y. preferred_________ $ 1 5,000 ,000
$110
____
C o m m o n s to c k ________________________ 11,000,000
------$100
Kanaw ha & Michigan R y. stock________
4 ,490,000
____
6o
The Kanawha & Michigan in June 1907 authorized an Issue of $2 ,5 0 0 ,0 0 0
20-year 5 % bonds, to pay the floating debt, &c , of which about half to be
taken by Hocking Valley. V 84, p. 1247.
P R E F E R R E D S T O C K .— Has preference as to assets and dividends and
is entitled to share equally with com m on In any dividend above 4 % In
any year. V . 80, p. 1111.
S A L E O F S T O C K . E T C .— In June 1903 $6,924,200 of the outstanding
$ 1 1 ,000 ,000 common stock was sold to five railroad companies, viz.: The
Pittsburgh Cincinnati Chicago & St. Louis (two-sixths Interest) and Balti
more <Sc Ohio, Chesapeake <Sc Ohio, Lake Shore & Michigan Southern and
Erie (each one-sixthi, the owners receiving $103 ptr share above all ex
penses
The participation certificates Issued therefor were paid at m atur
ity June 28 1906, and the stock distributed among the roads. V . 75, p.
1301: V . 7 7 . ri. 36. 1225: and form of cert. V . 77 p. 1874, V . 83, p. 37.
D IV I D E N D S .— On preferred 1900, 3 M % : 1901 to July 1907 incl., 4 %
per annum . On com m on July 1901 to Jan. 1907 Incl., 3 % per annum ;
July 1907, 2 % .
B O N D S .— The consols ($20,000,000 authorized) besides a lien on the
entire property, subject only to $5,426,000 prior bonds, have a first lien on
all the coal lands; $ 5 ,426,000 consols are reserved to retire the existing bonds
O ct ., 1907.]
RAILWAY STOCKS AND BONDS.
67
RAILWAY STOCKS AND BONDS.
R A IL R O A D S .
For explanation of column headings, & c., see notes
on first page of tables.
Hudson & Manhattan— 1st M ,S I00,000,000 .convS c*& r
Huntingdon & Broad Top— Com m on s t o c k _______
Preferred stock 7 % non-cum ulatlve_________________
First M extended In 1890 (Interest only In gold) - . QP
Second M old 7s extended In 1895 p & 1 gold____ QP
Third M consol extended In gold In 1895____ QP c*
14th Ser car trust $29,000 yearly Dec 1_______ PeP
Car trusts gold d u eabt $17,000 s-an (V . 84, p. 1424)
Illinois Central— Stock $ 9 5 ,0 4 0 ,0 0 0 ____________________
Leased line 4 % stock guaranteed (see rem arks)____
First mort of] Sterling bonds old 6s extend in 1895
1 8 7 4 f o r ISterling bonds extended In 1905___
$ 1 5 ,0 0 0 ,0 0 0 U s of 1886 due 1951 gold ____ c*& r
secures a l l 3 ^ 8 of 1886, due 1951 g o ld ..c * & r
equally _U s|3s of 1895 due. 1951 gold ____ c*& r
J3 34s of 1903 due 1951 gold___ c '& r .
Trust bonds sterling (sec by Ch St L & N O cons) - Us
1st M Sp D iv ref M (V 66, p 1237) g o ld -. U s.xc*& r
Kank & S W 1st M O tto to Norman June & b r _ .r
Collateral trust bonds gold $ _______________ U s.c*& r
Cairo Bridge bonds gold (see rem arks)___ U s.c*& r
Coll trust $ 2 5 ,000 ,000 gold on L N O & T _ .U s .c * & r
W estern lines first mortgage gold__________U s.c*& r
St Louis Div & Term M $10,000 ,000 g o ld .U s xc*& r
do
$5 ,0 0 0 ,0 0 0 (See V 6 5 , p 1173) g --U s .x c * & r
Louisville Div & Term M $25,0 0 0 ,0 0 0 g ..U s .x c * & r
Chicago St Louis & New Orleans second m ortgage. .
Consol M ($18,000,000) gold int guar____ c*& r
do guaranteed principal and Interest________
i
M iles
Date
of
of
Road. Bonds.
1907
1854
1857
1865
1899
1907
706-
111
131
857
798
218
239
553
567
567
567
100
130
98
734
1875
1875
1886
1886
1895
1903
1886
1897
1881
1888
1892
1892
1894
/1 8 9 7
\1897
1897
1877
1881
1897
1889
1900
1900
1904
[
Size, or \
Par
\ Amount
Value. Outstanding
[V ol.
I N T E R E S T OR D I V I D E N D S .
Rate
%
When
Payable.
Where Payable, and by
Whom.
lxxxv.
Bonds— Princi
pal, When D ue.
Stocks— Last
Dividend.
$ ,£ or fr.|$57,000,0001
g[F
AlStandard Tr Co, N Y
Feb 1 1957
5 0 1 1,371 ,750 See text.lJ
J Phil OH, 4th & W alnut St Jan 28, 04. 1 %
501 2,000 ,00017 in 1907 J
Jl
do
do
IJuly 25 ’07 3 X
5001
416 ,000 i
O!
do
do
Sept 30 1920
4 e
,
500
367 .500;
A
do
do
Feb 1 1925
4 g
]F
1,000
1,497 ,000!
5 e
a
O
do
do
jMar 31 1925
1.000
4
J
147 ,0001
D Penn Co for In . & c, Phil'To Dec 1 1911
1,0001
467 ,W
,ooo!
V,
4H g A
O P h ila .T r .,S .D .& Ins. Co. April ’0 8 -O c t ’21
100 95,040 .000 7 in 1907 M
S 115 B ’w ay, N Y , & LondjA ug31’07 3)4 %
100 10,000 ,000j
4'
J
do
do
;July 1907 2 %
£ 2 0 0 1 2.500 ,000|
4 g
|A
O London
'April 1 1951
£2 0 0
1,000 ,000
& D .................................................-;D e c 1 1950
3H g J
1,0001
1.500 ,000;
& J 115 Broadway, New York;Jan 1 1951
4 g
J
1 0 0 0 1 2,499 .0001
& J
do
do
Jan 1 1951
3J4 g J
£200
£500 ,000
3 g
M & S
London
IMar 1 1951
1,000 &cj 3.000 ,000
[April 1 1951
3 ^ g A & OiNew York & London
£200 ;
5,266 ,000
& J Baring Brothers, London July 1 1950
3 34 g;J
1,000;
2.000 ,000:
& J 115 Broadway, N ew York Jan 1 1951
3)4 g J
968 ,000|
1 ,0 0 0 1
do
5
F &
do
Aug 1 1921
do
500 &c 15.000 ,000!
do
4 g
jA &
iApril 1 1952
'rift/,
1 ,0 0 0 1 3,000 .000
do
&
do
!Dec 1 1950
4 g
;J
500 &cj 25.000 ,000
do
do
N or
1953
4 g
|M &
1,000; 5,425 ,oool
do
1951
do
iAug
4 g
|F &
500 &c
8,377 ,0 0 0 !
do
iJuly
1951
&
do
334 g J
4,998 ,2751
do
l,0 0 0 j
1951
do
&
|July
3 g
J
500 &ci 23,888 .000
do
do
iJuly
1953
g J
&
.......... I
80 ,000
do
6
do
1907
|J &
;Dec
l,0 0 0 | a ll f289 ,000
5 g
rJ „& ~
D
do
do
iJune 15 1951
do
1 ,0 0 0 : 1,359 ,000
do
'June 15 1951
3 34 g J & D
1.000
3,500 .000
do
J &
do
IDec 1 1951
4 g
1,000 &C
5,000 ,000
F &
do
jAug 1 1951
do
3 g
l,0 0 0 j
3,235 ,000
!Jan 1 1951
J &
do
do
3 g
do
(July 1 1952
1.000 14,662 ,000
do
3 3* g J &
[emphis D iv 1st M gold guar p & i (end)___ Us.c*
Om aha Division 1st M gold $ 5 ,0 0 0 ,0 0 0 ___ U s.c*& r
Litchfield Division 1st M gold $ 4 , 0 0 0 ,0 0 0 ..___ F.c*
Purchased lines 1st M $20,000 ,000 gold ___ U s.c*& r
Underlying St Louis Division & Terminal bonds.
17 1883
June 1 1923
1,000
6 g
J
& D
470,600
do
do
Bellevue & Carondelet 1st M Belle to E C g o ld ._ c *
51 1880
1,000
71,000
7
J
& J
July 1 1910
do
do
Bellevue & El Dor 1st M (I C owns $100,000) . . c *
30 18 86
1,000
538.000
4 g
M & S
do
Sept 1 1931
do
St L So 1st M g _______________________________Me.c*
1,000
17 1887
241.000
Mar 1 1932
4 g
SM & S
do
do
Carbondale & Shawneetown 1st M s o ld ____ c* ecure Illinois Central collateral tr ust bond s of 1 8 8 6
a In addition $5,26 6 ,0 0 0 consol 5s are pledged to s
(these existing bonds, however, m ay be extended at maturity) and $5,6 4 5 ,
R iver, to the Delaware Lackawanna <fc W estern station, H oboken, N . J
000 for the acquisition of new property and betterm ents, of which $5,263,000
Extensions are to be built under Sixth A v e ., New Y o rk , to 33d S t ., with a
sold in 1899-1907. V . 72. p . 338; V . 74, p. 1038; V . 76, p. 1192; V . 78,
spur under 9th St. to 4th A v e . The portion of the system from 14th
p. 989; V . 82, p. 568. Substantially all of the bonds and stock of the Street and Sixth Avenue, New Y o rk, to H oboken, is expected to be
Ohio Land & R y . Co. and the W ellston & Jackson Belt R y ., 18 miles, are ready about D ec. 1 1907. A double-tube tunnel Is also under construction
deposited under said m ortgage. V . 6 8 , p . 8 23. Guarantees K anaw ha & from a connection with the Erie and Pennsylvania R R . stations in Jersey
Hocking Coal & Coke Co. bonds. V . 74, p. 271; V . 7 7 , p. 2393; V . 8 1 .
City under the Hudson River to Cortlandt, D ey and Church streets. New
.5 0 7 ; V . 8 1 , p. 781; also Continental Coal Co. bonds.
V . 75, p. 4 9 7 , 987
Y ork. A connecting line between the tunnels in New Jersey Is to be built.
ee also Sunday Creek Co. (which operates properties) under ’ ’ Industrials.’
Cars will run over Pennsylvania right of way to Newark; also has agreement
with Public Service Corp. for transfer of passengers, &c. V . 82. p. 986.
L A T E S T E A R N I N G S .— For 2 m onths ending A u g. 31;
Electric power Is to be used, with trains of the New York subway type.
2 M o s .—
Gross.
N et.
Other Inc. Charges.
Balance.
Incorporated under the laws of New York and New Jersey. V . 82, p. 804.
1907
..................... $ 1 ,320,675
$468,524
$129,501
$153,935
$444,090
S
T O C K .— C om m on, $ 4 0 ,0 0 0 ,0 0 0 , all out; 5 % non-cum . pref., with prefer
1906
1,224,131
456,851
20,610
125,366
352,095
ence also as to assets,and convertible after July 1 1911 into comm on stock
A N N U A L R E P O R T .— Traffic Is m ostly freight, and over 6 2 % of this Is at 110, authorized issue $10 ,0 0 0 ,0 0 0 ; outstanding $ 5 ,2 5 0 ,0 0 0 .
Par $100.
bituminous coal. Average traln-load is large— -In 1907, 625 tons.
V . 82, p. 804; V . 83, p. 1469.
Report for year ending June 30 1907 in V . 85, p. 717, 733.
B O N D S .— O f the bonds $ 5 7 ,000 ,000 in connection with $ 4 0 ,0 0 0 ,1906-07.
1905-06.
1904-05.
1903-04.
000 com m on and $5,250,000 pref. stock will be issued on account of the
$ 6 ,439,809
$ 6 ,013,214
$5,72 5 ,4 8 3
Gross earn in gs............. . . $6,90 7 ,0 4 8
proposed tunnels, stations, power house, erection of buildings at the Church
N et earnings after taxes- $ 2 ,197,237
$ 2 ,258,035
$ 1 ,945,313
$1,87 2 ,8 6 3
S t. terminals in New Y o rk, and retirement of $5,000,000 N . Y . and Jersey
445,438
309,123
382,231
550,901
Other in c o m e ___________
bonds redeemable at 110.
Th e remaining $43,000 ,000 bonds and
$ 4 ,750,000 pref. stock are reserved for future purposes.
T otal available income $ 2 ,642,675 $ 2 ,567,158
$ 2 ,327,544
$ 2 ,423,764
The
bonds
will
be
convertible
on any Interest day after Feb. 1 1912 at
Fixed charges, & c_______
$815,188
$883,480
$899,693
$1,018,971
par into common stock at $110 per share, with provisions to protect the
Dividends on preferred- (4)600,000 (4)600,000
(4)600,000
(4)570,200
bondholders when common stock, in addition to the $40,000 ,000 at present
Dividends on c o m m o n .(3 H )3 8 5 ,0 0 0 (3)330,000
(3)330,000
(3)330,000 authorized and the further amount necessary to convert the bonds. Is issued.
Appropriations for addi
O F F IC E R S — P r e s.,W . G . M cAdoo; Vice-Pres., Fred’k B. Jennings;
tions, im prov’ts, & c . .
520,429
__________
__________
__________
Sec. and Treas., C. W . King. Office, 111 B ’w ay, N . Y . — (V . 83, p. 1098,
1228, 1469; V . 84, p. 57, 220, 1113, 1247; V . 85, p. 1005.)
Balance, year’s s u r p ..
$322 ,05 8
$753,678j
$497,851
$504 ,59 3
H U N TIN G D O N & B RO AD TOP M T. R R . & C OAL C O.— Owns from
O F F IC E R S .— P res., N . Monsarrat, Columbus; Sec. and T reas., W . N .
H untingdon, P a ., to Mount Dallas, P a ., 45 miles; branches, 22 miles.
C ott, Columbus; Asst. Sec. and T reas., A . H . GUlard, New York.
D I V ’ D .— ’95. ’96. ’9 7 . '9 8 . ’ 99. ’0 0 . ’0 1 . ’0 2 . ’0 3 . ’0 4 . ’05. '0 6 . 1907.
D IR E C T O R S .— Charles B Alexander, R . M . Gallaway, H . R . W ilson
On com m on . 4 ^ 4
1
0
0
0
0
0
5
1
0
0
and A . H . GUlard, New York; Ralph W . H Ickox, Charles G. H lckox and On preferred. 7
7
6
5
5 X 7
5
6
7
6
5K 7H
1
James H . H oyt, Cleveland; P . W . Huntington, N . Monsarrat, S. P . Bush,
A N N U A L R E P O R T .— Report for 1906 was in V . 84, p. 1426, 1551.
R . S. W arner, F . B . Sheldon and W illiam N . C ott, Colum bus, O .— (V . 84,
p. 1366; V 85, p. 3 3 9 , 530, 600, 717, 7 33, 864.)
Gross.
Net.
Interest. Dividends. Balance.
1906
$841,349 $312,305 $106,190 $150,000
$56,115
HOOSAC T U N N E L & W IL M 1N Q T O N R R .— N A R R O W G A U G E .—
1905
797,467
353,153
106,190
110,000
136,963
Hoosac Tunnel, M ass., to Millington, V t ., 25 miles.
In 1904 purchased
— (V 82, p. 100, 4 5 2 , 9 8 6 , 1207; V . 84. p. 3 39, 1424, 1551.)
by syndicate. V . 7 9 . p. 903.
Dividends: In 1903, 2 % ; year 1 905 -06 , 3 % .
Earnings for year 1905-06 gross, $77,384; net, $ 2 7,995 ; bond Interest,
IB E R IA & V E R M IL IO N R R .— Salt Mine June, to Abbeville, L a .. IB
$11,200; dividends ( 3 % ) , $7,500" Pres., John P . K ellas, Malone, N . Y . —
miles. Stock, $300 ,00 0, of which $298,500 owned by Morgan’s Louisiana Sc
(V . 79. p. 903.
Texas R R . & SS Co. (So. P a c .).
Bonds, $322,000 first mortgage 5s, due
Year 1905-06, gross, $ 7 3,085 ; net, $21,556; other Income,
HOUSTON BELT LINE & T E R M IN A L R Y .— To build a terminal line A u g. 1943.
$7,8 7 2 ; charges, $ 17,334 ; balance, surplus, $12,095 .
In and around H ouston, T e x ., 20 miles, with large passenger terminals.
Controlled by four proprietary roads, v iz .. Col. Southern, New Orleans &
IL L IN O IS C E N TR A L RR — (See M a p .) — R O A D .— Operates from Chi
Pacific (St. Louis & San Francisco), Trinity & Brazos Valley (Col. South
cago, 111., southerly to New Orleans, L a ., 912 miles, and westerly to Sioux
ern) , St. Louis Brownsville & Mexico and Gulf Colorado & Santa Fe (Atchi
C ity. I a ., 509 miles, with numerous branches, viz. (• which see.)
son system ).
Incorporated A ug. 31 1905 with $25,000 (nominal) stock.
Road owned in fee.
M iles. I Leased— Control owned.
M iles.
The 5s of 1907 ($ 5,000,000 authorized Issue) are subject to call at 105 after
Chicago to Cairo, 111— )
Evansv. Line (Ohio V a l. R R ) - 139
July 1 1 9 1 7 — (V . 85, p. 345.)
100
Centralia, 111., to East [Main
706 M em ., T en n ., to Grenada, M iss.
D ubuque, I a --------------- Jstem .
Yazoo & Mississippi Val. R R ..
HOUSTON & BR A ZO S V A L L E Y R R .— Owns Anchor to Velasco, T exas,
D
ubuaue
&
Sioux
C
ity*________
730
Memphis
to
N
.
O.
and
brs—
1,238
20 miles. To be extended from Anchor about 100 miles, with branch to
Springfield to East S t. Louis,
St. Louis Alton & Terre H a u te.
239
H ouston, 20 miles. Successor of Velasco Brazos & Northern, foreclosed
111. (V . 7 1 . p. 5 4 7 ) .....................
98
Entire stock owned.
O ct. 1906. V . 83, p. 1038. Controlled by B. F. Y o a k u m ,o f St. Louis &
Peoria, 111., to Evansville, In d .,
B ran ch es________________________
7 80
San Francisco R R ., and associates.
Incorporated April 1907. Stock.
with 6 m . branch (V . 73,
Leased.
$12 0 ,0 0 0 . The Texas R R . Commission in Sept. 1907 approved the issue
p. 391, 6 65)................................... 251 Chicago & Texas (Sept. ’ 97) —
80
of $200,000 bonds.
Year ending June 30 1906, gross, $33,241; net, $1,294.
To be acquired—
Trackage Oliver Br. to T h ebes.
9
— (V . 85, p. 793.)
Tennessee Central (see below ). .
85
HOUSTON EAST & W E S T T E X A S R Y .— (See M a p of Southern Pacific.)
Leased.— Control owned.
Total system June 30 1 9 0 7 ..5 ,6 1 7
Owns from Houston, T exas, to Sabine River at Logansport (on Houston
Chicago St. L . & N . O . R R .
& Shreveport R R .) , 191 miles.
Reorganized in 1896 without foreclosure.
Cairo, 111., to New O rle an s.. 547
Of which earns, kept separate—
Stock $ 1 ,9 2 0 ,0 0 0 , of which $1,918,200 owned b y So. Pac. C o ., which has
Line to Louisville, & c_______ 1
Yazoo & Miss. V a il. R R .............1.239
guaranteed $ 2 ,199,000 of the bonds, principal and interest, by endorsement,
(C.O . <fc S .W . and branches)/ 614
reserving the right to redeem them at 105 and interest at any time on six
Total included In earnings June 30 1 9 0 7 . . ___________________________ 4 ,378
m onth s’ notice. Dividend 1 6 % paid in 1902-03 out of accumulated sur
H IS T O R Y , L E A S E S , &c.— Chartered In Dec. 1850. The company pays
plus
Guaranty, V . 7 0 , p. 841; V . 7 1 , p. 236.
Year 1905-06, gross.
to
the State of Illinois 7 % (In 1907 $ 1 ,222,472) of gross of the 706 m. owned
$ 1 ,3 2 2 ,4 1 8 ; n e t, $507 ,40 2; charges, $20 1 ,4 8 8 ; balance, surplus, $ 3 05 ,91 4.
In fee yearly In lieu of taxes. The Chicago St. L . A N . O. is leased for 400
— (V . 7 8 , p. 2384.)
years from July 1 1882 at 4 % per annum on Its $10,000 ,000 stock deposited
HOUSTON & T E X A S C E N T R A L R A IL R O A D .— (See M a p of Southern to secure the leased line stock. Tax suit, V . 8 4 , p. 931.
Pacific.)— Owns from H ouston, T exas, to Denison, Texas, 338 miles; H em p
The Indianapolis Southern R y ., which operates from Indianapolis, In d .,
stead, T exas, to Llano, Texas, via Austin, 215 miles; Bremond to Ross
to Effingham, 111., 177 miles (of which 88 miles Is owned by 111. C e n t.),
T exas, 54 m .; Garrett to F t. W orth . 53 m .; other, 34 m .; total, 694 m .
is owned, but separately operated. V . 78, p. 2442; V . 79, p. 733. 968;
Cut off. Mexla to N avasota, 100 mlies, was completed late In 1906.
V . 85, p. 798.
In July 1905 an option for 3 years for purchase of majority
H I S T O R Y .— Successor April 11 1893 to a railway com pany foreclosed
of stock and bonds of the Tenn. Central and Nashville Terminal C o., jointly
Sept. 8 1888.
Reorganization plan. V . 45, p . 7 92, 820.
On Aug. 22 1901
with the Southern R y ., was obtained, the 111. Cent, on Dec. 1 1905 taking
merged Austin & Northwest, etc.
Litigation. V . 74, p. 680; V . 81, p. 777.
over the operation of the portion from Nashville to Hopkinsville, K y .,
B O N D S .— The bonds are being gradually reduced with proceeds of land
85 miles. V . 81, p. 1723.
sales. The first mortgage was for $ 8 ,6 3 4 ,0 0 0 , of which $570,000 reserved
An extension from Jackson, T e n n ., to Birmingham, A la ., 219 miles, is
against claim of State of Texas upon 75 miles of the road. The Southern
expected to be completed N o v . 1907, of which Corinth, M iss., to HaleyPacific Co. guarantees interest on all bonds. The first mortgage bonds and ville, A la ., 80 miles, and 3 additional miles, is under construction: balance
the consolidated mortgage bonds m ay be called for redemption at 110 with
to be trackage. V . 83, p. 896. Also under construction Oct. 1906 W oodproceeds of land sales. See full abstracts of all the mortgages In V . 5 2 , p.
stock to East Junction, Tenn., 16 miles. V . 83, p. 897; V . 8 5 , p. 654, 7 9 8 .
2 42.
O f the $ 5 ,068,000 consolidated 6s authorized $1,14 9 ,0 0 0 (not in
C A P IT A L S T O C K .— The leased line stock Is secured by deposit of $ 1 0 ,cluded in the am ount outstanding above) are held as part security for the
000,000 Chicago St. Louis &, New Orleans stock.
(V. 65, p. 1071.)
general 4s. There were also June 30 1906 $450,000 Lampasas extension
Early In 1901 the stock was Increased from $60,000 ,000 to $ 6 6 ,0 0 0 ,0 0 0 .
Interim 5s, all owned by Southern Pacific Co.
In N ov. 1901 to $ 7 9 ,2 0 0 ,0 0 0 , and in Aug. 1902 was further Increased to
S T O C K .— Stock, $ 1 0 ,0 0 0 ,0 0 0 , of which the Southern Pacific Co. owned
$95,0 4 0 ,0 0 0 , to provide additional equipment and facilities. See V . 7 1 .
$ 9 ,9 9 8 ,3 0 0 ; par, $100.
V . 76, p. 1084, 1192, 1407.
In 1902-03 a dividend
p. 1066; V . 72, p. 241. 282; V . 73, p. 8 2 , 138, 666; V . 7 4 , p. 1308; V . 7 5 ,
of 6 % was paid out of accumulated surplus. V . 76, p. 1407.
p. 77 498. The Union Pacific in 1906 acquired $28,123 ,100 of the stock.
L A N D S -— The lands June 30 1906 held for cancellation of first and con V . 84. p. 51, 102, 570.
solidated mortgage bonds consisted of 947,384 acres; land contracts ou t
D IV I D ’S. 1” 8 7 . ’8 8 . ’89. ’ 90. ’ 9 1 -’99. ’00. ’01-Sep .’04. ’05. ’06.
’0 7 .
standing were $2,437 ,0 3 2 . V . 65, p. 869.
Com. stock] 7
7 5M
6 5 y ’rly. 5)4
6 yearly.
7
7
7
E A R N IN G S . — Year 1905-06, gross, $5,7 5 1 ,7 5 9 ; net, $ 1 ,9 0 8 ,6 6 8 ; other
B O N D S .— Main line $ 1 5,000 ,000 mtge. of 1874 covers property described
Income. $ 5 ,4 « 7 ; charges. $906 ,85 0; b a l., surp., $ 1 ,0 0 7 ,3 0 5 .— (V . 83, p.
in V . 63, p. 76. Cairo bridge bonds are secured by deposit of a like amount
1524; V . 84, p. 7 49; V . 85, p. 793.)
of Chicago St. Louis & New Orleans 1st M. Cairo Bridge 5s. The rental for
H UD SO N & M A N H A T TA N R R .— (See M a p .) — Owns double-tube tunnel
the bridge Is $180,000 In gold annually, of which $20,000 goes to a sinking
from Sixth Avenue and Christopher Street, New Y o rk , under the Hudson
fund. See ad v. In "Chronicle” May 7 1892.
§
RAILWAY STOCKS AND BONDS.
O ct ., 1907.)
M AP
OF TH E
HUDSON and MANHATTAN
RAILROAD SYSTEM.
69
70
RAILWAY STOCKS AND BONDS.
RAILROADS.
F o r explanation of column headings, & c ., see notes
on first page of tables.
Illinois Central R R .— (Concl.)— Iowa Falls & Sioux Cl
Illinois Iowa & Minn— 1st M 5 5 ,000,000 gold r e d .I C .c '
Illinois Southern— 1st M gold 5 5 ,0 0 0 ,0 0 0 _______ EC.c*
Illinois Terminal— 1st M 5500,000 gold red par^-___ IC
Illinois Tunnel Co— See Chicago Subway Co.
Indiana Illinois & Iowa— See Chicago Indiana & So
Indiana Decatur & Western:— See Cln fnd & W estern
Indiana Harbor Belt— New mortgage $2 5 ,0 0 0 ,0 0 0 ____
Chic H am & W lirst mortgage gold a s s u m e d ..c * & r
Indianapolis & Louisville— See Chicago Indianapolis
Indianapolis South— 1st M red 110 text g _ . U sm .c*& r
Indianapolis Un— 1st M gold s f not callable___ FP.c*
Gold notes part due yearly guaranteed te x t_______
Interbor— Metropol Co— Com stock 5100 ,00 0,00 0 auth
Pref stock 5 % cm (also pref as to as»ets) 555,000 ,000 .
Ooll tr bonds g sec by Int R Tr stock_________ c*& r
Coll trust notes $ 1 5 ,000 ,000 gold call 102_____ _ Me.c
Interborough Rapid Transit— Stock $ 3 5 ,0 0 0 ,0 0 0 ____
Notes 5 1 5 ,000 ,000 authorized gold redeem at par___
N otes 5 1 0,000 ,000 gold red at 101 begin 1909____ Mo
International & Graat Northara— First mortgage gold
Second mortgage gold____________________________ F.c*
3d M (5 3 ,0 0 0 ,0 0 0 ), formerly Inc, Incl scrip, g .M e .c *
Colorado Bridge bonds sinking fund_______________ F
Interoceanic Ry of Mexico— Ora shares £ 1 ,7 0 0 ,0 0 0 ..
Preferred shares 7 % cumulative £ 1 ,0 0 0 ,0 0 0 ________
Prior Hen deb subj to call at par after Mar 1 1 8 9 7 ..
4 % debenture 6tock subl to call at par £ 1 ,1 5 0 ,0 0 0
Debenture stock 7 % " B
subj to call 120 non-cum
econd debenture stock red at 105 after 1911 text
Mex E deb stock £ 4 5 0 ,0 0 0 guar red at 105 beg 1914
Iowa Central— Common stock 5 1 1 ,000 ,000 authorized
Preferred stock $ 7 ,400,000 5 % non-cum ulatlve____
1st M for 5 7 ,650,000 g (abstract V 4 9 , p 582) ..M e .c *
Refunding M 5 2 5,000 ,#00 gold (see te x t).M o .c * & r
Jacksonville Term— 1st M gold guar 5500,000_M p .c*
Jamestown Chaut 4c L E— See Buffalo & Lake Erie
Jeffersoa— 1st & 2d Ms ext In '87 <S» ’89 ( H ’dale B r )._ c
1st M Carbondale to S depot gold guar p & 1__FP.c*
Date
M iles
of
of
Road. Bonds.
lxxxv.
INTEREST OR DIVIDENDS.
Size, or
Par
Value.
\Bonds— P rln cl-jpal. When Due
Where Payable, and by i Stocks— Last
Whom.
j
Dividend.
Amount |
Outstanding'
t y — S ee stat ement of |Dubuque <Sc| Sioux C it y .
125 1904
1,000| 2 ,820,000
5 g
M &
1,000| 4,400.0001
4 g
jj
&
132 1903
1905
1,000
450,000
5 g
J
&
T ext.
S New York or Chicago
Mar
DINew York
Dec
J Illinois Tr & Sav B k, Chic Jan
1 1944
1 1953
2 1925
Jan
1 1927
uthern
2,748 1897
& Lou isvllle
1903
1886
1904
500 &c
See text
2,500,00<y
6 g
J
&
J Central Trust Co, N Y
J New York
1,000 In I C treas.
5 g
|J &
1,000
940,000|
4 H g M & N Fidelity Trust, Phila
245,000[
4 g
M & S Treasurer, Indianapolis
5,000
10U 9 3 ,3 6 2 ,1 0 0 ;_____________________ i.............. ................ ................
_________________________
100 4 5 ,3 8 0 .3 0 0 See t e x t .1 Q— J
4hi e A & O W indsor Trust Co, N Y
1906 1.000 &c 6 7 ,8 2 5 ,0 0 0 i
1907 1.0 0 0 toe Sec text. I
5 g jj
&
J
Belmont & Co, New York
100 3 5 ,000,000 9 in 1907i Q— J
T ext.
do
do
15 000,000
1905
4 g
do
do
1,000 10,000,000
1907
5 g
Office, 195 B ’w ay, N Y
500 &c 1 1.291.000
1.109 1879
6 g
do
do
1.109 1881
500 &c 10.391.000
5 g
See remarks
500 &c
2,966,052
1.109 1892
4 g
N Office, 195 B ’w ay, N Y
198.000
7
1880
1,000
£1 0 £ 1 ,7 0 0 ,0 0 0
£1 0 £ 1 ,0 0 0 ,0 0 0 See te x t. See text. London
5
J
& J ...................................
£ 4 0 0 ,0 0 0
£ 5 0 &c
4
M & S 15 London
£69 9 ,8 8 6
fr 5 - 6 . ..................................................
£ 469 ,45 9
£1 0 0
£1 0 0 £ 1 ,1 5 0 ,0 0 0
4 hi
. ............... 4 Tor 1 9 06 -19 07
5
J & D 15 London
£100
£ 4 0 0 ,0 0 0
’ 100
8,524.683
Office, 25 Broad S t, N Y
5,674,771 lh i in ’0 0 1M
100
Mercantile Trust Co, N Y
1,000
7,6 5 0 ,2 9 5
503 1888
5 g
|J
4 g
M
do
do
5 .340.000
541 1901
1,000
Guaranty Trust Co, N Y
5 g
J
500.000
1
1894
1.000
Tract; ion Co in "S tr e e t R ailw ay’ ’ Section.
Fidelity Trust Co, Phila
8| 1867
1,000
300.000 4)4 & 6 !J
Erie R R , New York
5 g
2.800.000
1,000
IA
3 7 1 1889
IL L IN O IS C E N T R A L R R . (Concluded) —
The trust bonds of 1886 are secured by deposit of 55,26 6 ,0 0 0 Chicago St. L .
& N . O . consols of ’8 1 , and are to be included in any new mtge.
The collateral trust bonds of 1952 are secured by pledge with the U . S.
Trust Co. of New York of 516,350 0 (0 5 % 1st mortgage gold bonds of
subsidiary railroads covering 854 miles. See list, V . 55 p. 550.
The 525,000 ,000 collateral trust bonds of 1953 are secured by pledge of all
the Louisv. N . O . & Texas (now Yazoo & Mississippi V alley R R .) , $16,900.000 1st m tge. bonds, except 5 6 8 ,0 0 0 , all the 5 9 .104,000 m tge. incomes
and all but 596,000 of the $10,000 ,0u * land grant Incomes. See ad v. In
•‘ Chronicle” June 11 1892. and V . 5 4 , p. 9 64; V . 61, p. 112.
The Chicago Bt. Louis & New Orleans have their Interest guaranteed (by
endorsement) until the principal Is paid. The 3 his of 1897 are gu ar., prin
cipal and Interest, by endorsement— see guaranty V . 6 5 , p. 1071.
The Western Lines loan of 1894 is for 5 1 0 ,0 0 0 ,0 0 0 , but 5 4 ,575,000 bonds
can be Issued only when the road from Iow a Falls to Sioux C ity, 184 miles,
now subject to 5 2 ,800,000 of Iowa Falls & Sioux City bonds (see Dubuque
& Sioux City R R .) due in 1917, shall be transferred to the trustee without
encumbrance. See ‘ ‘ Supplement” of Jan. 1899.
The St. Louis Division & Terminal bonds are for 5 1 5,000 ,000 authorized,
of which $5,00 0 ,0 0 0 are three per cents; 53 ,5 0 0 ,0 0 0 were issuable for im
provements, equipm ent, & c., and 51 ,4 9 9 ,0 0 0 are held to retire 51.400,000
underlying bonds still outstanding on the St. Louis A lton & T . H . system;
see table above. See abstract of mortgage In V . 66, p. 138. See also V .
6 6 , d. 133; V . 71 p. 546.
Louisville D ivision & Terminal mtge. is for 525,0 0 0 ,0 0 0 ; of the bonds
5 1.11 2 .0 0 0 are reserved to purchase the 46 m . (Cecilia br.) from Louisville
& Nashville and to retire the L. & N . bonds thereon; 52,500,000 for new
additions or extensions. Chicago S t. Louis & New Orleans took title to the
Louisv. D iv. and joined in making m tge. S e e V . 66, p. 136, for abstract; also
“ Su p p .” of Jan .’99. V .6 5 , p. 367, 516; V .6 6 , p.133; V .6 7 , p .581; V .7 5 , p .671.
O f the 5 4 ,0 0 0 ,0 0 0 Litchfield Division bonds, $765,000 are reserved for
Improvements, &c. V . 7 1 , p. 5 47, 646; V . 7 9 , p. 2455.
The purchased lines 3 H s o f 1904 (520,000,000 authorized) cover various
minor lines acquired. O f the bonds, 514,662 ,000 have been Issued on 734
m . of subsidiary branch lines purchased, and the remaining 5 5 ,338,000 is
reserved to retire at m aturity 5968,000 bonds of the Kankakee & South
western due 1921 (see bond table above) and 5 4 ,370,000 bonds of the Chic.
M ad. & North . (231 m .) , which are pledged for the collateral trust 4s of
1 952 .
(See V . 7 1 , p. 288; V . 79, p. 1273. 1642. 2588; V . 81, p. 1105.)
New President.— In N ov. 1906 the Harriman Interests elected Vice-Presi
dent Harahan as President In place of Stuyvesant Fish. V . 83, p. 1170,
1037, 970; V . 84, p. 51. Contest pending in 1907; annual m eeting post
poned to Dec 18.
E A R N I N G S .— 2 m o s .,11907............. Gross, 5 9 .4 3 4 ,8 5 5 ; net, $2,09 0 ,6 0 6
July 1 to A u g. 31.
J1906_______ Gross,
8 ,8 2 8 ,3 9 6 ; net,
2,373,621
R E P O R T .— Annual meeting Is held the third W ednesday in October
Report for 1906-07 was In V . 85, p. 785, 7 97; editorial, p. 761.
The following does not Include Yazoo & Mississippi Valley:
Year ending June 30—
1907.
1906.
1905.
Miles operated June 3 0 ________________
4,3 7 7
4,459
4,374
Passenger earnings............... ..................... 5 1 1 .1 8 7 ,5 3 3 510,004 ,041 510,729 ,825
Freight earnings.......................................... 38,033,271
3 4 ,637,124 3 2 ,607,922
M ail, express and miscellaneous______ 7,3 8 9 ,8 2 9
6,9 9 5 ,2 4 0
6,170,902
Total e a r n in g s ......................................5 5 6 ,610 ,633 $51,636 ,405 549,508 ,649
Operating expenses____________________ 4 0 ,065,525
36,43 7 ,4 7 0 3 5 ,111,706
N et earnings______! ■ ._ .........................$16,545 ,108 515,198 ,935 $14,396 ,943
N et receipts from interest, & c________
2,8 1 3 ,9 6 8
3 ,255,398
2,759,020
Miscellaneous___________________________
4,607
1,591
2,488
Total receipts........................................$19,363 ,683 $18,455 ,924 $17,158,451
Deductions—
Interest on Illinois Central bonds____ $3,462,395
$ 3 ,467,340
$ 3 ,431,035
In t. on Chic. St. L . & N . O. b o n d s ...
2 ,4 6 8 ,2 7 2
2 ,431,587
2 ,415,060
Rental Dubuque & Sioux City R R ___
1 ,238,460
1,1 8 7 ,4 0 0
571,243
N et rental S t. L . A . & T . H .....................
507,465
507,465
507,435
Miscellaneous___________________________
__________
___ ______
98,336
Dividends on Illinois Central s t o c k .. (7 )6 ,6 5 2 ,8 0 0 (7)6 ,6 5 2 ,8 0 0 (7)6,652,800
Balance, surplus_____________ ______ $5,034,291
$ 4 ,209,539
$3,482,542
Y A Z O O & M ISSIS SIP P I V A L L E Y .— Results on 1,239 miles In 1906-07,
1,211 miles In 1905-06. See report at length, V . 8 5 , p. 785, 8o4.
In Jan.
1903 , $569,574 paid for back taxes. V . 77. p. 713.
Year—
Grn**.
Net.
Othrr Inc. Interest.,&c. Pol.,sur.
1 9 0 6 -0 7 .......................$ 9 ,499,659
$ 1 ,426,684
$1,750
51,357,227
$71,207
1 9 0 5 -0 6
. . . 8.6 7 1 .2 5 0
1,312,268
1,890
1,284,541
29,617
Balances In 1905 and 1906 were transferred to Insurance fund.
No pay
ments were m ade In 1904 to 1907 to 111. Cent, as owner Of entire 59,104.000
Louisv. New Orl. & Texas 2d M. inc. bonds on acct. of arrears of Int. ($6,361 ,230) on July 1 1907: $277.712 paid from earn, of 1902-03. V . 81, n. 990.
O F F IC E R S .— Pres., James T . Harahan, V .- P ., I. G Raw n; V .-P . and
Sec., A . G. HackstafT; Treas., E . T . H . Gibson; Gen. M gr., Frank B.
Harriman.
General office, Chicago, III.; N . Y . office, 115 Broadway.
Directors.— W alther Luttgen, John W . Auchlncloss, J. T . Harahan,
Charles M. Beach, Cornelius Vanderbilt, Stuyvesant Fish, Edward H . Harrirnan, John Jacob Astor, Charles A . Peabody, R . W . Goelet, James De W .
Cutting, A . G. Hackstaf . and ex-offlcio H on. Charles S. Deneen, Governor
of Illinois.— V . 84, p. 931: V . 85, p. 221. 345, 654, 785, 793, 797.
IL L . I O W A * M IN N . R Y ,— See Chicago Milwaukee & Gary R y. and m ap.
IL L IN O IS SOUTH ERN R Y .— Owns Salem to Bismarck (Including River
Transfer. 1 m ile). 122.86 m .; Chester branch, Missouri Jet. to Chester, 10.70
m .; Rosborough branch, Sparta to Rosborough, 5 m .; total owned, 138.56
m .; leases 111. Cent, trackage. Branch Jet. to I. C. Jet., 2.75 m .; total. 141.31
m . Successor June 1 1900 of the Centralla & Chester R R ., foreclosed.
V . 70. p. 1048: V . 71, p. 29. Stock, co m ., 54 000,000 : 6 % cum . pref ,
51 0 0 0.000 : par, 5100, all Issued. O f the bonds, 5600,000 was reserved
for Improvements and equipment in 1906-08 at not over 5200,000 yearly.
[V o l .
July 1 1953
M ay 1 1926
Sept 1908 1910
July 1 ’07 1 hi %
April 1 1956
July 1 1910
Oct 1 ’07 2 X %
1908
May
1910
Mch
Nov
1919
Sept
1909
Sept
1921
May
1920
Dec 1906 2 %
Mar 31 1912
Sept 15 1950
Sept 15 1950
1950
Jan 1 1984
Mar 1 ’00 1 hi %
June 1 1938
1951
Mar
1939
July
July
Jan
1927
1909
V . 7 9 , p . 5 00. Equip, notes, incl. int. July 3 0 1 9 0 6 , 5 1 0 5 ,5 9 1 . For 12
m os. end. June 30, gross, 5336,556 In 1905-06, against 5278.929 In 1904 -05 ,
R E P O R T .— For year ending June 30 1905 In V . 82, p. 158.
In 1905-06,
gross, 5331,034; net, 5111,312; total deductions, 5210 ,18 0; b a l., d e f.,
598,868.
Pres., J. W . W alsh: Sec. and T reas.. C. F. W elnland; A u d .,
A . F. W illiam s.
Office, Grand Cent. Station, Chicago, 111.— (V . 82, p. 158.)
IL L IN O IS T E R M IN A L R R .— Owns terminals at A lton ,111., and road,
A lton to H artford, 111., 6 miles; Hartford to Edwardsville J e t., 7.1 m .;
leases from W abash R R ., Edwardsville Jet. to Edwardsville, 1.6 m . Stock,
5500 ,00 0; par of shares, 5100.
O f the bonds, 5150,000 are reserved for
future purposes. V . 79, p. 2205.
Bills payable June 30 1907, 521,5 0 0 .
Year ending June 30 1907, gross, 5125,373* net, 559,665 ; Interest, taxes
and rentals, 535 558; b a l., sur.. 5 2 4,107 . Pres., Geo. M . L evis.— (V . 7 9 ,
p. 2205.)
IN D IA N A IL L IN O IS & IO W A R R .— See Chic. Ind . & Southern R R .
IN D IA N A H AR BO R BELT R R .— Owns Chappell, 111., to Union Stock
Y ards, Chicago, 11 miles: operates under contract, 25 miles, operated under
trackage (Chicago Junction R y .) W hiting to Franklin Park, 49 miles; total,
85 miles.
The stockholders voted O ct. 1 1907 to purchase the Indiana Harbor R R .
and to lease with option of purchase the 49 miles of Chicago Junction R y ..
forming the outer belt line. Stock, understood to be half each owned by
Lake Shore & Michigan Southern and Michigan Central, also to make a
mortgage for 525,0 0 0 ,0 0 0 to cover the entire property. V . 84, p. 284, 3 4 5 ,
793.
The 52,50 0 ,0 0 0 Chicago H am m ond & W estern 6s of 1897 will be
assumed as a part of the purchase from the Chicago Junction R y . The
Indiana Harbor had no funded debt, but its property was mortgaged to
secure an issue of Michigan Central ‘ ‘ Term inalr’ bonds, amounting to
5 7 25 ,00 0.
Year 1906, gross, 5 4 98 ,80 3; deficit under operating expenses,
5 1 1 6 ,8 1 1 .— V . 85, p. 284, 365, 793.
IN D IA N A P O L IS SO U TH ER N R Y .— See Sec. A p r. 1906; V . 84. p. 693.
IN D IA N A P O L IS UNION R Y .— Owns 3 miles of track, .93 of a mile of
road, with terminals at Indianapolis, In d ., and leases for 999 years the Belt
R R . of Indianapolis— 1 2 hi miles (which see).
Formed In 1850 and furnishes terminal facilities to the several railroads
entering Indianapolis. C A P I T A L .— The Cleveland Cincinnati Chicago &
S t. Louis, the Pittsburgh Cincinnati Chicago & S t. Louis and the Vandalla
R R . are virtual proprietors, they having Invested in It $867,917 to June 30
1906 . N o stock outstanding.
The $245,000 4 % notes of 1904, guar. prln. and int. b y Pitts. Cln. Chic. &
S t. L . and Cleve. Cln. Chic. & S t. L .. mature Sept. 1 yearly as follows. $85 000 In 1908 and $80,000 in 1909 and 1910; Commercial Trust Co. of Phila
delphia. trustee. V . 8 0 , p. 871.
E A R N I N G S .— 1905-06, gross, $944,055; net, $168 ,51 0; other Income,
$ 4,714; total deductions, $91,768; b a l., sur., $ 8 1 .4 6 6 .— (V . 8 3 . p. 213.)
IN T E R B O R O U G H -M E T R O P O L ITA N CO.— O R G A N I Z A T I O N .— Incor
porated on Jan. 24 1906 as an amalgamation (per plan V . 8 2 . p. 2 17, 280) of
the Interborough Rapid Transit Co. and M etropolitan Street R y .
In O ct.
1906 $33,902,800 of the $35,000 ,000 stock of the Interb. Rapid Transit Co.
$42,740 ,000 of the $52,000 ,000 Metropolitan S t. R y . stock and $ 2 9 ,257 ,700
of the $30,000 ,000 stock of the Metropolitan Securities C o .. Its holding
com pany, had been acquired. V . 8 2 . p. 6 92. See Interborough Rapid
Transit Co. below and Metropolitan St. R y . In ‘ ‘ Street R ailw ay” Section.
Favorable decision, V . 85, p. 99, 654.
Investigation by Public Service
Commission, V . 85, p. 221, 469, 793. In Sept. 1907 receivers were appointed
for the Metropolitan Street R y . and of Its lessee, the New York City R y .,
whose stock is all owned by the Metropolitan Securities C o ., the Metropolitan
Street R y . dividends being suspended. V . 85, p. 793, 864.
S T O C K .— The unissued stock Is reserved for exchange of stocks not de
posited.
The preferred stock has no voting power except in default of paym ent of
dividends thereon or unless the directors so request. V . 8 2 , p. 217. 280.
D IV I D E N D S .— D iv. on pref.. 1
qu ar.. paid Julv 2 1906 to July 1907
Inclusive.; in O ct. 1907 the dividend was om itted. V . 85, p. 600.
V O T IN G T R U S T .— All the common stock is deposited under a voting
trust agreement to M ch. 6 1911, subject to termination In the discre
tion of the voting trustees, v iz ., August B elm ont, W alter G . Oakm an,
Thom as F . R yan , Cornelius Vanderbilt and Peter A . B . Wtdener.
B O N D S .— The collateral trust 4 « s of 1906 (W indsor Trust C o ., N . Y . ,
trustee) are to be secured b y pledge of ail the stock of the Interborough
Rapid Transit Co. or voting trust certificates therefor as acquired at the rate
of $1,000 in bonds for $500 Interborough Rapid Transit stock, V . 8 2 . p. 280.
In July 1906 made a $500,000 five-year 5 % mortgage covering property in
218th St. V . 83, p. 95.
„
The collateral trust 3-year 5 % notes of 1907 ($1 5 ,0 0 0 ,0 0 0 , authorized
issue) can be Issued only pro rata as the collateral mentioned (V . 84, p.
1248) in the deed of trust, is deposited. Collateral m ay be withdrawn on
deposit of an amount of cash as fixed by the deed of trust or additional notes
of Metropolitan Street U y.
R F P O R T .— Statem ent of combined operations of the Interborough Rapid
Transit and New York C ity R y . system s for year ending March SI in V 84
p . 1242.
Balance sheet Sept. 30 1906, V . 83, p 1409.
Fiscal Year—
1906-07.
1905-06.
Charges.
Gross earnings___________________$43,353 ,841
$40,693,671
Inc. $ 2 ,6 6 0 ,1 7 0
Operating expenses______________ 2 1 ,841,884
2 1 ,044,516
Ins.
79 7 ,3 6 8
Net earn ings_________________ $21,511 ,957
1.187.464
519,649 ,155
1,215,781
In'! $1 ,8 6 2 ,8 0 2
28,317
Dec
Total in co m e--------------------------- $22,699,421
$17,956 ,552
•Interest, rentals anr* taxes —
3,150,000
Int. (4 hi % ) on In t.-M et. bonds
666,368
Metrop. St. R y. guar, dlvs..........
In t.-M e t. 5 % pref. dividend. . .
2 ,2 7 3 ,9 9 0
520,864 ,936
$16,766 926
02,80 0 ,0 0 0
3,6 3 9 ,8 8 8
..................
Inc. 51 ,834,485
Inc. $1 ,189,626
35 0,000
Inc.
Dec 2,973 520
Inc. 2,273,990
Deficit............................................... $1 ,3 4 7 ,4 8 9
$ 2 ,3 4 1 ,8 7 8
Dec.
$994,389
•Taxes do not Include Metropolitan special franchise tax in litigation,
a Dividend.
O c t ., 1 9 0 1 ]
R A IL W A Y
S T O C K S
A N D
B O N D S .
RAILWAY STOCKS AND BONDS.
O F F IC E R S .— Pres., T . P . Shonts, 115 Broadw ay, N . Y . ; V .- P ., J. B .
M cD onald .— (V . 85, p. 221, 469, 530, 600, 793, 864.)
IN T ER B O R O U G H R A P ID T R A N S IT C O.— (See M a p .)— Incorporated
M ay 6 1902 in New York, to operate the municipal tunnel railroad in N . Y .
C ity, extending, with two tracks, from Battery to City H all, and as a fourtrack line from the City Hall (with two-track loop at that point) under new
E lm S t ., Fourth and Park avenues, to 42d S t ., thence under 42d S t. and
B roadw ay to 103d S t.; also as two-track lines, partly viaduct, (a) from 103d
S t ., on the W est Side, to Klngsbrldge Station, (M from 103d S t. to the East
Side and Bronx Park. Extension (two-track) under the East River via
Fulton and Flatbush avenues to Atlantic A v ., Brooklyn, there connecting
with the Long Island R R ., Is to be completed by M ay 1908, part to be
operated in 1907. Total, about 62 miles of track on 25 miles of road (of
w hich 1 9 ^ subway and 5 \i elevated). V . 77, p. 827; V . 80, p. 222, 1912;
V . 84, p. 1306; V . 85, p. 600, 6 54, 1005.
On O ct. 27 1904 the W est Side main line from 145th Street to City H all,
■Q m ., was opened, and on N o v . 23 the East Side line from 145th S t. south;
and in July 1905 began operating to the Battery and on the East Side to
W e st Farm s. The extension to Kingsbrldge (221st Street) was opened
March 12 1906. V . 8 2 , p. 6 27. 1268.
Leases M anhattan (Elevated) R y . for 999 years from Apr. 1 1903. See
that co. Has agreement with N . Y . City Interborough St. R y ., controlled
iiby allied Interests, which Droposes to build various surface roads In Bronx
Borough, of which 5 m . operated. V . 8 0 , p. 117, 1175, 1479; V . 8 2 , p.
# 6 8 . 1268. In March 1906 $1,78 0 ,0 0 0 of the $ 2 ,000,000 Subw ay Realty
Slock was acquired. V . 82, p. 2 18, 513.
Owns stock of N . Y . & Queens County R y ., 74 miles, and (jointly with
Long Island R R .) the N .Y . & L. I. Traction C o ., 56 miles.
V . 80, p. 2621;
V . 83, p. 818. Also owns N . Y . & Long Island R R ., whose tunnels from
M anhattan to Long Island City were completed in Aug. 1907 (V . 81, p. 1492
V . 82, p. 751; V . 83, p. 1229; V . 84, p. 1248; V . 85, p . 345, 7 93, 864); Pel
ham Park R y . and City Island R R .
See list of security holdings, V . 8 3 '
p . 155.
•
C O N T R O L .— In Sept. 1906 $ 3 3 ,902 ,800 of the $ 3 5 ,000 ,000 stock had
been exchanged for 200 % In 4 H % collateral trust bonds of the Interborough
M etropolitan Co. (which see a b o ve), secured by the stock exchanged.
C O N T R A C T S .— Contract with city calls for the construction of the road
from City Hall north for $35,000 ,000 and its lease to the com pany for 50
years from com pletion, renewable for another 25 years, the rental to be
equal to the interest on the city’s bonds Issued for construction (but not for
easements, &c.) and a sinking fund of 1 % yearly to retire the bonds. See
provision V . 8 2 , p. 1157. The com pany also at its own expense provided
the electrical equipment (costing about $ 2 5,000 ,000 ; see V . 8 2 , p. 4 5 2 ).
For contract see V . 69, p. 1063. The extension from City H all, M anhat
ta n , to Brooklyn, Is being built without aid from the city except about
$ 3 ,0 0 0 ,0 0 0 and leased for 35 years with privilege of renewal for 25 years.
V . 7 5 , p. 184. 1086, 1202. See V . 76, p. 101. 1234.
In June 1907 $ 4 6,902 ,000 city bonds had been Issued, of which $ 4 4 ,8 6 6 ,000 are 3J^s, $1,50 0 ,0 0 0 3s and $536,000 4s.
D I V I D E N D .— July 1904, 2 % ; Jan. 1905, 3; A p r ., \
July. 2; O c t.. 2;
1906, J an ., 2; Ju ly. 2 K : O ct., 2
1907, 9 % (Q .-J .).
N O T E S .— The 4 % notes of 1905 (W indsor Trust Co. of New Y o rk , trus
tee) will be equally secured in the event of the com pany executing a mort
gage covering the leashold Interest in the M anhattan R y . or the Transit
Subw ay Construction Co. or N . Y . & Queens Co. R y . stock. V . 8 0 , p . 1912.
Th e $10,000 ,000 3-year 5 % notes of 1907, the proceeds of which will be used
In part for the extension to Brooklyn and to finance the purchase of Long
Island traction properties, will be equally secured with bonds Issued under
a mortgage in the event aforesaid or the mortgaging of New York & Long
Island Traction or Long Island Electric Co. stock. V . 84, p. 4 50, 390.
E A R N I N G S .— For the 9 months ending Mar. 31;
9 months
Gross
N et
Other
Charges &
Balance
ending M a r. 31—
Earnings. Earnings. Income.
Rental.
Surplus.
1906 -07 , M an. R y $1 0 ,3 5 0 ,0 8 2 $ 6 ,157,876 $307,233 $4 ,3 3 9 ,6 8 3 $ 2 ,125,426
1906 -0 7 , S u b w a y -. 5.989,069
3,1 8 7 ,1 5 3
270,208
1,829,110
1,628,251
1905 -0 6 , Man. R y . 9,3 6 3 ,8 4 9
5,2 5 7 ,9 9 2
284,708 4,3 1 0 ,0 9 5
1,232,605
1 9 05 -06 , s u b w a y -- 5 ,0 4 1 ,5 7 8 2,8 7 1 ,2 3 8 3 0 7,712
1 263,317
1,915,633
1906 -0 7 , T o t a l.$ 1 6 ,339,151 $9,34 5 ,0 3 0 $577 ,44 0 $6,21 8 ,7 9 3 $ 3 ,703,677
1905 -0 6 , T o ta l- 1 4 ,405,428 8,1 2 9 ,2 3 0
592,420 5,539,411
3 ,182.239
R E P O R T .— Balance sheet Sept. 30 1906, V . 83, p. 1407. Surplus over
dividends in 1906-07 was “ over $ 5 0 0 ,0 0 0 .”
V . 85, p. 864.
For year ending June 30 1907, the Subway Division being Included In
1906-07 and 1904-05; In 1904-05 the Subway was operated 8 m os. and 5
days.
1906-07.
1905-06.
1904-05.
$ 1 9 ,695 ,594
$16,837 ,370
Gross earnings..................................... $22,363 ,802
Operating expenses_______________
9 ,593,331
8,4 0 0 ,8 2 3
7 ,397,384
N et earnings...................................$12,770 ,471
Other income........................................
815,832
$11,294 ,771
715,503
$9,439,986
491,040
N et Inco m e- ...................................$ 1 3 ,586 ,303
Interest and r e n ta ls......................... $4,37 5 ,8 9 4
T a x e s ............. .........................................
1,377,965
7 % on Manhattan stock__________ 4 ,1 1 6 ,0 0 0
$ 1 2,010 ,274
$ 3 ,586,823
1,390,560
3,8 6 4 ,0 0 0
$9,93 1 ,0 2 6
$2,443,371
1,203,734
3 ,864,000
Balance for dividends..................$ 3 ,716,443
$3,168,891
$2,419,921
D iv id en d s............................................ (9)3.150.000 ( 8 H ) 2 ,887,500 (6 J*)2,362,500
Surplus for y e a r .................. .........
$566 ,44 3
$281,391
$57,421
D IR E C T O R S .— August Belmont (Chairman), Alfred Sk ltt, Morton F .
Plant, Andrew Freedman, James Jourdan, James H . H yde, W . G. O akm an,
John Peirce, Geo. W . Young. W m . A . R ead, Cornelius Vanderbilt, New
Y o rk; E . P . Bryan, New Jersey; and Gardiner M . Lane, Boston.
Pres., E . P . Bryan; S e c., H . M . Fisher; T reas., D . W . M cW illiam s.
Offices, 13-21 Park R ow Building, and 23 Nassau S t ., New Y o rk .— (V . 84,
p . 390, 4 50. 5 7 0 , 1052. 1182, 1307, 1366; V . 85. p . 864; V . 85, p. 1005.
IN T E R N A T IO N A L & G R E A T NOR TH ERN R R .— (See M a p M issouri P a
cific.)— Longview, on T e x . & Pac. (near Shreveport, L a .) , southwesterly to
Houston and Galveston, also to Laredo, T e x ., on M ex. National R R .. and
Spring northerly to F t. W orth ; total Jan. 1907 , 1.159 miles, viz.:
Joint trackage—
M iles.
Lines owned—
M iles
Longview , T e x ., to L a r e d o ..____ 494 G alveston Houston & Henderson
Palestine to H ouston, T e x -----------150
(Jointly with M . K . & T . ) ______50
M lneola, C olum bia, & c___________ 121 Other lines__________________________ 26
Fort W orth to Spring_____________ 261 Houston Oak Lawn & Magnolia
N avasota to Madlsonvllle________ 47
P a r k R y _________________________ 10
O R G A N I Z A T I O N .— Reorganized without foreclosure In 1892 under plan
«n V . 5 4 , p . 203, 3 6 6 . Stock authorized Is $ 2 5,000 ,000 ; outstanding, $ 9 ,7 5 5 ,0 0 0 ; par, $100; controlled In Interest of Missouri Pacific.
B O N D S .— The second mortgage Interest (scaled to 4 Vi % until and lncl.
S ep t. 1 1897) Is now 5 % ; but In case of default the rate reverts to 6 % as for
m erly.
V . 7 3 , p. 445.
In June 1907 obtained authority to expend $100 ,000 to $150 ,00 0 for passenger depot at San Antonio, repayable in ten equal
sem i-annual paym ents, with interest at 6 % . V . 84, p. 1551. On June 1
1907 car trust notes and bonds, $627 ,65 9.
E A R N I N G S .— July 1 1906 to June 21 1907, gross. $ 8 ,4 3 8 ,2 7 0 ; 1905-06
$ 6 ,6 1 3 ,1 4 5 . July 1 to Sept. 1 1907, gross, $ 1 ,6 4 2 ,0 0 0 , against $1,666,000
in 1906.
Year—
Gross.
Net.
Oth. inc. Charges. <fec.
Balance.
1 905-06
$ 6 ,805,433
$865,403
$4,007
*$ 1 ,7 8 1 ,6 9 6 def.$912,286
1904-05
6,316,309
1,440,987
10,451
1,851 630 def. 400,191
•Includes equip, notes, $37,081; lm prov., $ 7 63 ,12 6.— (V . 7 4 , p. 1551.)
IN T E R O C E A N IC R Y . OF M E X IC O . L T D — S e ep a g e 178.
IO W A C E N T R A L R Y .— (See M a p .)— Operates Peoria, 111., west to Oskaloosa, l a ., thence northerly to Albert L e a, M in n ., forming a through line
via M inn. & S t. Louis R R . from Peoria, 111., to S t. Paul, Minn.
Leases— (stock owned.)
M ile s.
Owns—
M U es.
I a . C . & W . t Belmond to A lg o n a . 37
Iow a J e t.. 111.* to M anly J et.,
3
Iow a_____________________________ 363 Track, Iow a Jet. to Peoria________
Branches to Belm ond, & c _ . ______127 M anly J e t.. L a ., to Albert Lea,
M inn, (owned Jointly)__________28
T otal in earnings July 1 1 9 0 7 ........ .............. ................ ....... ................ ................ 558
H I S T O R Y .— Reorganization (by plan In V . 4 4 , p . 653) of the Central
Iow a, sold In foreclosure In 1887-88. In June 1900 Minneapolis & S t. Louis
Interests obtained control through purchase of the com m on stock: the two
properties are operated In close connection. V . 7 0 , p. 1249.
C A P IT A L S T O C K .— The preferred Is entitled to 5 % (non -cum .), then
com m on to 5, then both share pro rata. V . 6 2 . p . 5 48.
D I V I D E N D S .— On pref. In 1892, 1 % ; 1899 , 3; 1 9 0 0 ,1 H ; none since.
B O N D S .— The refunding; 4s of 1901 are secured b y a mortgage on the en
|Vol. i.xxxv.
tire property now owned or hereafter acquired, subject to the $ 7 ,650,000
first 5s, for which an equal am ount Is reserved. The balance are issuable
for future extensions at not exceeding $25,000 per mile. Improvements and
equlpm ’t . V . 73, p. 8 99. Loans and bills payable June 30 1907, $ 1 ,6 3 2 ,5 0 0 .
E A R N I N G S .— 2 m os., /1 9 0 7 __________Gross, $505 ,50 4; net, $141,531
July 1 to A u g. 31.
1190 6__________Gross,
4 9 1,032 ; net,
126,366
A N N U A L R E P O R T .— Report for 1905-06 was in V . 83, p. 965. Softcoal tonnage in year 1905-06 was 856,510 (37 % of total tonnage).
Year ending June 30—
1907.
1906.
1905.
1904.
Miles oper. June 3 0 ______
558
558
558
558
Gross earnings-.................. $3,13 2 ,0 4 8
$ 2 ,958,587
$ 2 ,588,300
$2,37 7 ,1 0 5
N et earns, (o v e r ta x e s ).
981,840
774,849
460,218
425,135
Tot.net.rec'ts(incl.rents) 1 ,201,467
992,536
661,438
560,607
7 55,872
755,094
738,511
641,739
Interest, rentals, & c____
Balance, surplus____ sur.$445,595 sur.$237,442 de f.$77,073 d e f.$81,132
— (V . 83, p. 626, 965; V . 85, p. 722, 793.
JA C K S O N V IL L E T E R M IN A L R Y .— Owns union freight and passenger
depots (the latter opened Feb. 1 1895) and terminal properties at Jackson
ville, F la ., including 16 miles of track, used b y A tl. Coast Line R R .. Sea
board Air Line, Florida East Coast R y ., Southern R y . and Georgia Sou. &
Florida R y ., which companies, except Ga. Sou. & Flor. , guarantee by en
dorsement the prin. & int. of above bonds, and own the entire stock.
For
year 1906-07, gross, $174,138; int. on bonds, taxes and im prts., $ 38,262 ,
paid by above-nam ed roads; $14,303 net was earned from lease and rent of
outlying properties, which, added to $46,608 on hand, makes the total sur
plus June 30 1907 from similar sources $ 6 0 ,9 1 1 .— (V . 71, p. 135.)
JA M E ST O W N C H A U T A U Q U A & L A K E ER IE R Y .— See Buffalo &
Lake Erie Traction Co. in “ Street R ailw ay” section.
JEFFERSON R R .— Owns Lanesboro, P a ., to Carbondale, P a ., 37 miles
double track; branch, H aw ley, P a ., to Honesdale. P a ., 8 miles. Leased
lu perpetuity to the Erie R R . Co. for $140,000 per annum for main line
and $14,940 for branch. Used by Delaware & H udson to reach Carbondale
Stock, $2,095,450- all owned by Erie R R .
JO LIE T & NORTHERN IN D IA N A R R.— Owns Joliet, 111., to Lake
Station, In d ., 45 miles.
Road opened In 1854 and leased to the Michigan
Central Stock ($3 0 0 ,0 0 0 ), all owned by the Michigan Central, carries divi
dends of 5 % per annum .
In July 1907 the Mich. Cent, m ade a new 50-year
first 4 % m ortgage on the road ($ 3,000,000 authorized issue), under which
$ 1 ,5 0 0 ,0 0 0 bonds were sold to refund the $800 ,00 0 bonds due July 10 1907
and for Improvements. V . 8 4 , p. 1552.— (V . 7 6 , p . 752; V . 8 4 , p. 1551.)
JONESBORO L A K E C IT Y & EA ST ER N R R .— Owns Jonesboro to Bar
field, A r k ., 67 miles; Osceola Jet. to Osceola, A r k ., 20 miles; total, 87 miles.
A consolidation Oct. 1 1905 with Chickasaw R R . V . 85, p. 1100. Stock,
$600 ,00 0.
Bonds ($ 1 ,000,000 authorized Issue), Bank of Commerce &
Trust C o., Memphis. T en n ., trustee. For year ending June 30 1906, gross,
$171 ,10 5; net, $67,385 ; other income, $3,190; charges, $26,283 ; dividends
( 4 .4 5 % ) , $26,700; bal., sur., $ 1 7,592 .
Pres., E . F . Brown; Sec., D . P .
Brown; Treas., W . E . Talley.
Office, Jonesboro, A r k .— (V . 81, p. 1100,
1665.)
JUNCTION R R . ( P h i l a d e l p h i a ) . — Owns Belm ont, P a ., to G ray’s Ferry.
Pa. about 3 miles. Leased for 50 years, from March 1 1899 to Phlla. B a lt.
& W a sh .; lessee to pay fixed charges; keep road In repair and pay bond
interest and 6 % on stock; bonds are also endorsed with guaranty of Penn
sylvania, Phlla. W llm . & B alt, and Philadelphia & Reading roads, m ade
prior to lease. Stock, $250,000 (par, $50); now all held by Phlla. B alt. &
W ash, and the Pennsylvania, V . 6 8 , p. 4 2 8 .— (V . 8 5 , p. 221.)
K A N A W H A & M IC H IG A N R Y .— (See M a p Toledo & Ohio Central.)—
Owns Corning, O ., to Gauley on the Ches. & Ohio, 177 miles, less 18 m iles,
Pomeroy to Galllpolis, and 1 m ile, Athens to A rm ltage, where Hocking
V a l. R y . tracks are used. Also owns branch of 11 miles leased to Toledo
& Ohio Central and Col. Sandusky & Hocking R y . companies.
In 1907 consolidation with H ock. Val. R y . pending per plan V . 83, p
271, 323, minority stock being offered 6 0 % In new stock. V . 84, p. 51; V
85, p. 864. The merger being temporarily blocked, stockholders June 4 1907
authorized $2,50 0 ,0 0 0 second m ortgage 20-year 5 % bonds, to be used mainly
to pay off $2,24 1 ,0 0 0 floating debt.
A syndicate was being formed to pur
chase about $1,25 0 ,0 0 0 bonds, balance to be taken by Hocking V alley,
which holds greater part of notes payable. This will m ake possible the
commencement of dividends, 1 % semi-annual being expected to be paid
shortly. V . 8 4 , p . 1182.
H I S T O R Y , &c.— Reorganization In April 1890 o f the Kanaw ha & Ohio
R y . sold In foreclosure.
(V . 5 0 , p . 4 5 1 , 483 )
In O ct. 1890 a majority
in the stock was acquired by the Tol. & Ohio C en t., which has guaranteed
the bonds, principal and Interest.
(See V . 5 2 , p. 165, 351.)
Capital stock,
$ 1 0,000 ,000 ($1,000,000 In treasury July 1907 ). The 1st m tge. bonds are
limited only to $15,000 per mile of road constructed. On June 30 1907, In
addition to car trusts shown in table above, there was special equip, and
betterment loan, $ 1 ,095,000.
$52,524
L A T E S T E A R N I N G S .— /1 9 0 7 ............... Gross. $416 ,69 9; net,
2 m os., July 1 to A u g. 31.\ 1 9 0 6________ Gross,
3 98,186 ; net,
100,502
Surplus over charges, 2 m os., $ 38,980 , against $58,320 sur. in 1906.
R E P O R T .— Report for year 1906-07 was In V . 85, p. 788, showing,
gross, $2,3 7 7 ,6 6 2 ; net, $515 ,69 5; other Income, $ 7,108; interest, taxes, & c..
$255 ,72 7; balance, surplus, $ 2 6 7 ,0 7 6 .— (V . 85, p. 7 22. 788, 864.)
K A N A W H A & W E S T V IR G IN IA R R .— T o extend from Charleston. W .
V a ., to Belva on the Gauley R iver, 55 miles, o f which 39 miles com pleted,
balance under construction. Controlled by same Interests as Blue Creek
Coal & Land C o ., owning 44,000 acres of coal and timber land In Kanawha
County. Stock authorized, $ 5 ,000,000; par of shares, $100.
O f the $ 5 ,0 00,000 authorized 1st 5s, (Scranton Trust C o ..tru stee). $ 1 ,0 0 0 ,0 0 0 have
been issued, the remainder being limited to $25,000 per mile. The first
$ 1 ,000,000 of the issue are guaranteed, prin. and Int., b y the Blue Creek
Coal & Land Co. and are subject to 105 and interest after July 1 1908. V .
83, p. 1524; V . 8 4 , p. 339. Pres., Edward S. Jones; V ice-P res., W . A .
MacCorkle; 2d V ice-P res., Cyrus D . Jones; Treas., Thos. E . Jones; S e c,.
W m . D . Boyer.— (V . 83, p. 1524; V . 84, p. 339.)
K A N S A S C IT Y B ELT R Y .— From Clark’s Jet. to Valley of Blue R iver, 10
miles. Stock authorized, $ 2 ,500,000 (par, $100 ); outstanding, $550 ,00 0
(par, $100); owned one-half by Atchison Topeka & Santa Fe and threetenths by Kansas City Fort Scott & Memphis and tw o-tenths by Chicago
Milwaukee & St. Paul. The Chicago Rock Island & Pacific R y . contracted
to use the facilities. V . 78. p . 1446. T o be acquired by the Kansas City
Terminal Railway C o ., Incorporated July 11 1906, at $ 3 ,220,000, viz.,
$2,500,000 bonds, $550,000 stock and $170,000 surplus. V . 83. p. 95;
V . 85, p. 405. For year ending June 30 1907. gross, $440,573; net,
$190,369; interest, taxes, & c., $197 ,11 6; b a l a n c e , deficit, $6,7 4 7 .— (V . 78,
p. 1446; V . 85, p . 405.)
K A N S A S C IT Y CLINTO N & S P R IN G F IE L D R Y .— Owns from Olathe,
K a n ., to Ash Grove, M o., 154 miles; R aym ore Jet. to Pleasant H ill, M o..
8 m .; Arcadia. K a n ., to Springfield, M o., 85 m . (acquired Sept. 1901 from
K an . City Ft Scott & M em. R R .) : total, 247 miles. Stock, $ 1 ,7 7 5 ,4 0 0 .
Bonds were guaranteed by the K an. City Ft. Scott & M em . R R . (old co.)
Under purchase from K . C. F t. S. & M ., $ 2 ,000,000 6 % bonds o f that co.
were assumed.
For year ending June 30 1906, gross, $361,478; net,
$79,510; other income, $47,161; charges, $283 ,6 6 0 ; balance, deficit,
$ 1 56 ,98 8.— (V . 7 3 , p. 723.)
K A N S A S C IT Y FORT SCOTT & M E M P H IS R Y .— (See M a p s Rock Island
C o.) — Operates Kansas C ity, M o ., to Memphis, T e n n ., and branches, 916 m .,
Including trackage 85 m . from Arcadia to Springfield, M o., owned by K . C.
Clinton 3b Springfield R y . (which see a b o ve). Also has a controlling Interest
In stock of the K . C. Mem. & Blrm. R R ., owning line from Memphis. T e n n ..
to Birmingham, A la ., with branch, 285 m ., and of K an. City & Memphis
R y . & Bridge C o ., owning bridge across Mississippi River at M emphis.
3 miles. Total. 1,201 miles.
O R G A N I Z A T I O N .— Incorporated on June 14 1901 and Is vested with
the property of the former Kansas City F t. S. & M em. Railroad other than
the 85 miles from Arcadia to Springfield, sold to the Kansas City Clinton &
Springfield; also controls other mileage. V . 7 2 , p. 1237. See V . 7 2 , p. 4 3 8 .
5 3 2 , 6 7 5 , 988. The S t. Louis ds San Francisco R R . owns the entire stock
and leases the road, guaranteeing the bonds o f 1901, principal and interest,
and 4 % on preferred stock trust certificates.
S T O C K .— Common authorized, $ 4 5,000 ,000 ; outstanding, $ 1 5 ,0 0 0 ,0 0 0 ,
all owned by St. Louis & San Francisco R R . The pref. stock (115.000,000
authorized, o f which $ 1 3 ,5 1 0 ,0 0 0 Is outstanding, par $100) Is deposited In
escrow, and against It are Issued trust certificates o f the S t. L . & San F . R R .,
the latter having the option to retire the certificates at any time at par,
and obligating Itself to pay off the whole Issue In 20 years from date (O ct.
1901) and meanwhile to pay quarterly dividends o f 1 % thereon. See
V . 7 2 , p. 1238.
B O N D S .— The refunding bonds of 1901 (limited to $60,000 ,000 ) are
secured by all property now owned, or hereafter acquired with the pro*
RAILWAY STOCKS AND BONDS.
O ct ., 1907.]
M AP OF T H E
73
< //Ay
X
^
ILLINOIS, IOWA & MINNESOTA
RAILWAY.
A N D
^
C O N N E C T IO N S .
/
74
RAILWAY STOCKS AND BONDS.
[VOI* LXXXV.
M A P OF TH E
IN JER BO R O U Q H
RAPID T R A N S IT CO.
S U B W A Y and ELEVATED Systems.
SU B W A Y Shown__________
-
MANHATTAN ELEVATED--------- --
O c t., 1907.]
RAILWAY STOCKS AND BONDS.
~5
76
RAILWAY STOCKS AND BONDS.
R A IL R O A D S .
F o r explanation of column headings, & c ., see notes
on first page of tables.
IN T E R E S T OR D I V I D E N D S .
M iles
Date
of
of
Road. Bonds.
Jonesboro Lake City & Eastern— 1st M $ 1 ,0 0 0 ,OOOauth
87 1905
2.96 1900
lunction (Philadelphia) G en M (n o w lst) g $ 7 5 0 ,0 0 0 c _.
15 1904
Kanawha & Coal River— Joint M $750,000 gold s f . .
164 1890
Kanawha & Mich— 1st M $15,000 p m g gu p & l.C e.c*
2nd M $ 2 ,500,000 auth gold red par . ___________ .S
1907
1902
- Equipm ent t r u s t s ____________ ____________ ________
Equipm ent bonds due $23,000 sem i-annually_______
1906
1906
r
do
do
due part sem i-annually_______
35 1905
Kanawha & W Va— 1st M $5,000,000 g t e x t ________ C*
_
Car trusts, due $32,000 Dec yearly
_
________ Ba
1906
10 1886
K an Cy Belt— 1st ($534,000 guar K C F S & M) NB c*
162 1885
K ansas City Clinton & Spring— 1st M g guar__N B .c*
34 1877
Pleasant Hill & De Soto first mortgage gold____ NB
85 ____
K an Cy Ft S & Mem R R 1st M gold a ssu m e d ..N B
K ansas City Fort Scott & Memphis Ry—
•830 1901
R ef M $60,000 ,000 gold guar p & 1 e n d .. M e.xc*& r
160 1879
K ans Cy Ft S & G 1st M land gr s f dr’n at 1 1 0 . . c*
Memphis K & Col first mortgage_________________ c*
50 1884
26 1882
Kansas & Missouri R R first mortgage____________ c*
Kansas City Ft Scott & Memphis R R cons M .N B .c *
719 1888
82 1887
Current Rver R R 1st M $20,000 p m guar____ NB
Kansas Cy & M R y & Bdge 1st M g s f drawn at 1 10c*
3 1889
1899
Fort Scott Equipment Co 1st M call at par_______
. 1900
Ozark Equip Co 1st M guar $ 1 ,000,000 call at par
K an Cy Mem & Birm gen M $ 4 ,500,000 c u r ..O B c*
285 1894
Income non-cum ulatlve.
___ _____
______OB.c*
285 1894
285 1894
do stamped fixed Interest redeem t e x t ________
Blrm Belt 1st M gold red 102 H guar p & 1 e n d ..O B
21 1902
___ 1905
Equipm ent notes Series A due $65,000 semi-annually
___ 1905
do
Ser B $85,000 due s-a (V 8 1 , p 1 0 4 4 ) . . Ba
Kansas City Mexico & Orient— 1st M gold (see text)
1901
Kansas City Outer Belt & Electric— 1st M $3,00 0 ,0 0 0 g
7 1903
___
Kansas City Southern— Pref stk 4 % n-c $ 2 1 ,0 0 0 ,0 0 0 .
___ 1900
First mortgage gold $30 0 0 0 ,0 0 0 ____ ■____ M e.c*&r
___ 1906
Coll trust notes $5,100,000 gold redeem at par____
___ 1905
Equipment notes gold red par due $72,000 s-an__N
1906
do
ao
gold ser B red par $30,000 semi-ann
b Includes $187,000 held alive In sinking funds, y Inciu des $2
• Also covers m ajority of stock of Kansas City Mem phis & Blrml
Size, or
Par
Amount
Value. Outstanding
$1,000
1,000
1,000
1,000
1,000
1.0J0
1.000
1.000
1,000
500
1,000
$476,000
725,000
750,000
2,469.000
See text.
1,168,750
414,000
235,900
1,000,000
160.000
2,500,000
3.192,000
58.000
2,000.000
Rate
%
When
Payable.
M & s
5 g
3 hi g A & o
M & s
5 g
A & o
4 S
J
5
& J
5
M & N
F A A15
5
J
& J
J
& J
5 g
5
& D
J
6
J
&
J
A & O
5 g
A & O
7 g
M & N
6 g
1,000 &c 20 015.000
4 g
A & O
100 &c
2,056.000
7
& D
J
1,000
492,000
7
M & S
1.000
390.000
5
F & A
1,000 y l3 ,7 3 6 ,0 0 0
M & N
6
1,000
1,606,000
5
A & O
1,000 b3,000,000
5 g
A & O
1,000
67.000
6
J
& J
1,000
342,000
5
M & N
500 &c
3,323,390
4
M & S
500 &c
387,180
5
March
500 &c
5 ,935,500
5
M & s
1,000
1,000,000
A & o
4 g
■
975,000
& J
4H S J
l.o o o
1,360,000
4 hi g F & A
1,000
7,800,000
F & A
4 g
1,000
2,000,000
A •Sc O
4 g
100 21,000,000 See text See text
1,000 &c 30,000,000
A & o
3 g
5 ,1 0 0 ,0 0 0
& J
J
5 g
'l.o o o
1,15^,000
4 « ? M & i
540.000
& D
4H g J
,000,000 assumed by K C C 1 & So.
ngham . 2 85 miles, an d provid es for reti
ceeds of the refunding Issue. O f the bonds, $ 1 1,650 ,000 were subscribed for
In June 1901, about $ 3 1 ,025 ,770 were reserved for exchange against the
face am ount of underlying bonds. $ 3 ,000,000 for refunding p.urposes, $5.00 0,000 for Improvements betterments and new equipment at the cumu
lative rate o f $600 ,00 0 per annum , and the residue, as well as any bond*
not used or required for refunding purposes, will be reserved for Issue for
additional lines and extensions, at not exceeding $22,500 per mile thereof.
A s to gu aranty,see “ organization" above. V . 7 5 , p . 8 53. See V . 8 1 , p. 5 59.
In 1902 the K . C. F t. Scott & M em. R y . guaranteed the Interest on all
except $387 ,78 0 of the $ 6 ,322,780 K . C. M em . A Birm. Income bonds, be
ginning March 1, the bonds so guaranteed being stamped with a provision
making them subject to call at any time within 10 years from Sept. 1 1902
a t 95 and Interest. V . 7 4 , p. 4 7 7 , 5 77.
Equipm ent notes additional to
those In table above, $23,202 fives, due quarterly to O ct. 1 1908.
Birmingham Belt bonds are guaranteed, principal and Interest, Jointly by
Kansas City Memphis & Blrm . and S t. L . & San Fran. _'r. 7 5 . p. 1147.—
(V . 8 1 , p. 1044; V. 82, p . 9 87, 1438; V . 8 3 , p. 890; V . 84, p. 1551.)
K A N S A S C IT Y L A W T O N & PACIFIC R R .— V . 8 3 , p. 7 51.
K A N S A S C IT Y M EXICO & O R IE N T R Y .— (See M a p .)— Projected to
extend from Kansas C ity, M o ., to Topolobam po B ay, M exico, on the Pacific
coast, 1,629 miles: also a cut-off from San Angelo to Spofford J e t.. T e x .,
connecting there with Mexican lines for City of M exico.
In Feb. 1907, 622
miles were in operation, v iz ., W ichita, K a n ., south 200 miles; Sweetwater,
T e x ., east 78 ipiles; Chihuahua, M ex., east 80 miles; Chihuahua west (incl.
trackage over Chihuahua & Pacific R R ., 125 m iles), 191 miles; Topolobampo
east 76 miles. In addition over 300 miles were graded. B y Dec. 1907 about
1,050 miles are expected to be in operation (of which 275 trackage, including
trackage between Emporia and Kansas C ity, 114 miles, being replaced by
com pany’s own m ileage), the latter being part of a continuous line from
K ansas City to San Angelo, T e x ., 711 miles. See V . 8 4 , p. 102; V . 7 5 ,
p . 1253; V . 8 1 , D . 1550: V . 8 3 , p. 1411; V . 8 4 , p . 5 08, 1551.
The com pany has its own coastwise service from Topolobam po and the
H am burg-Am erican SS. Co. has contracted to establish a trans-Pacific line
as soon as the railroad is completed.
(V . 7 7 , p . 401.)
Liberal subsidies
have been granted by the Federal and State governments In Mexico. See
prospectus, V . 7 5 . p. 1253, and V . 83, p. 9 5 , 1411.
The Kansas City Outer Belt & Electric R R . (see that com pany below)
will, when completed, afford terminal facilities and an entrance Into K an
sas C ity. V . 7 6 , p. 331: V . 80. p. 871.
S E C U R IT I E S .— Stock authorized, $20,000 per mile each In common and
non-cum ulatlve 4 % pref. stock: outstanding April 1905, pref., $4,2 3 2 ,4 0 0 ;
co m .. $ 2 ,9 9 9 ,9 0 0 . Stock Is held In a voting trust until Jan. 1 1917. V . 83,
p . 1411.
Bonds (U . S. & Mexican Trust C o ., trustee) are Issuable at $22,500
per mile, single main track, $15,000 per mile of yard and terminal track,
and $12,000 per mile of double track, constructed or acquired; also, $2,5 0 0 ,000 for extra work In Sierra Madre M ountains, $ 5 ,000,000 for terminal fa
cilities at Kansas City or T opolobam po, or both, and $ 1 0,000 ,000 for future
requirements and additional rolling stock a t not over $1,00 0 ,0 0 0 yearly,
beginning Feb. 1 1906. On completion of road it was estimated there will
be left in the treasury for each mile of completed road $7,500 bonds, $4,000
pref. and $7,500 common stock. V . 7 8 , p. 102; V . 8 1 , p. 1411; V . 8 4 , p. 102,
508. In A u g. 1905 made an agreement with S t. Louis Union Trust C o., as
trustee, to secure $ 2 ,000,000 car-trust bonds. V . 81, p. 7 7 7 . Mexico &
Orient Townslte Co. bonds and notes. V . 7 8 , p. 1109, 1113; V . 85, p. 345,
722
O F F IC E R S .— Pres., A . E . Stllwell: V .- P ., Enrique C . Creel, W . W
Sylvester. G eo. Crocker and J. S. Bralthwaite; V .-P . and Gen. M gr., E d
ward Dickinson: Sec., Neal S. Doran: T reas., W . A . Rule.
Am ong the
directors are George J. Gould, J. T . O dell, Russell Harding, W . C. Procter
and Robert C. Clow ry.— (V . 84, p. 1551; V . 85, p. 3 4 5 ,7 2 2 .)
K A N S A S C IT Y N O R TH W E S TE R N R R .— Entire stock. $ 4 ,016,000
(par, $100 ), and $2 ,9 8 3 ,5 0 0 “ B ” bonds were purchased In N ov. 1900 by
M o. Pac. R y ., which see: also ’ ‘ Supplem ent” o f Jan. 1903.
K A N S A S C IT Y O U TER B ELT (STEAM ) & ELEC TR IC R R .— This com
pany Is constructing a belt line road at Kansas C ity, the main line, double
track, being 7 miles In length, extending from N o. Kansas City to the Kaw
Valley on the west, with bridge across the Missouri River.
Grading to be
completed during 1907.
W ill afford an entrance Into Kansas City for the
K an . City M ex. & Orient R y ., and connect with the various steam roads
entering that city. Arrangements are also proposed with certain projected
suburban electric roads.
Incorporated in 1902 by interests friendly to
K an . City Mex. & Orient R y .
V . 7 5 , p. 184; V . 76, p. 331; V . 8 0 . p. 871.
S E C U R IT I E S .— Stock authorized, $2,50 0 ,0 0 0 com . and $ 2 ,250,000 4 %
pref. The stock will be held in a voting trust of ten members until the full
dividend shall have been paid on the pref. for 5 consecutive years. See
V . 76, p. 331.
O f the $3,00 0 ,0 0 0 authorized 1st gold 4s (see table ab o v e),
$2 ,0 0 0 ,0 0 0 have been sold; the entire cost of construction and equipment
was estimated at not over $2 ,0 0 0 ,0 0 0 In bonds, leaving balance for exten
sions and Improvements.— (V .7 5 , p. 184; V .7 6 , p. 331: V . 8 0 , p. 8 71. 2399.)
K A N S A S C IT Y SOUTH ERN R Y .— See M a p .— Operates a line extending
from Kansas C ity, M o ., to Port Arthur, T e x ., thence by Its ship canal, 7
miles, to deep water on the G ulf o f M exico, with branches and extensive
terminals used by various roads entering Kansas City.
Lines Ownet.
M iles.
Lines Owned—
M iles.
Kansas C ity, M o ., to Belt J u n e .. 12 Branches to Fort Sm ith. De
Qutncy, l a . . «tc ______________51
Grand View . M o., to Port Arthur,
11
T e x ....................................................
765 7 raekage— To Grand View , M o—
T o ta l................................................................................................................................. 839
A lso owns entire $650 ,00 0 each of stock and bonds o f Arkansas Western
R y .. W aldron to Heavener, A r k .. 32 miles, operated separately; also con
trols K . C. Shreveport & Gulf Terminal Co. V . 8 2 , p . 3 3 2 .
O n A u g .1 1 9 0 6
Port Arthur Canal was transferred to the Government. Port Arthur being
made a port of entry. V . 8 3 , p. 3 8 , 492.
O R G A N IZ A T IO N .— A reorganization of Kansas City Pittsburgh & Gulf
R R ., foreclosed In 1900 per plan V . 6 9 , p. 1012, 1062. V . 7 3 , p. 1356;
V . 7 4 , p. 94. As to control, see V . 8 0 , p. 997.
The voting trust having expired April 1 1905 , a new management was
elected In May 1905.
Extensions are to be built. Including one to New
Orleans. V . 8 0 , p. 1971; V . 8 1 . p. 5 59; V . 8 4 , p. 1366. Common stock ,
$30 ,0 0 0 ,0 0 0 : par, $100.
[V o l .
Where Payable, and by
Whom
Memphis, Tenn
Broad St Station, Phlla
Bankers’ Trust Co, N Y
Central Trust Co, N Y
Scranton (Pa.) Trust Co.
R . Kleybolte & Co. N . Y
Office, 50 State S t, Bost
Old Colony Trust. Boston
do
do
St Louis, Mo
lxxxv.
Bonds— Princi
pal, When Due
Stocks— Last
Dividend.
Sept 1 1925
April 1 1930
Sept 1 1924
April 1 1990
July 1 1927
May 1 1912
Feb 15 ’0 8 -’ 16
Jan’08-Ju ly’ l 3
July 1 1955
D ec.’0 7 -D e c .’ l l
July 1 1916
Oct 1 1925
Oct
1907
M ay 1 1928
Mercantile Trust Co N Y
Old Colony Trust, Boston
do
do
do
do
Merc Trust, N Y ; 4 Bost
Old Colony Trust, Boston
Merc Tr Co, N Y ; & Bost
Old Colony T r Co, Boston
do
do
do
do
do
do
do
do
do
do
Blair & Co, New York
do
do
Amer Ex N at Bk, N Y
U S M & T , 20 B road.N Y
Oct 1 1936
June 1 1908
Sept 1 1910
Aug 1 1922
May 1 1928
Oct 1 1927
Oct 1 1929
July 1 1909
M ay-N ov 1 1910
Mar 1 1934
Mar 1 1934
Mar 1 1934
Oct 1 1922
To Jan 1 1915
Feb ’08-A u g ’ 15
Feb 1 1951
April 1 1953
Oct 15 1907 1 %
New York Trust Co, N Y April 1 1950
New York Trust Co, N Y April 1 1912
May ’0 8 -N o v ’ 15
Blair & Co. New York
D e c ’0 7-J u n e’ 16
do
do
rement of Its bonds.
S E C U R IT I E S .— The stockholders on March 19 1906 authorised an Issue
of > 10,000,000 of 4 H % 20-year Improvement bonds, of which $ 6 ,000,000
deposited as collateral for $ 5 ,100,000 six-year 5 % notes, proceeds to be
used for Improvements and equipment. The notes, which were under
written, were offered to stockholders pro rata at 95. See V 82. p. 334,
a32, 692; V . 8 4 , p. 1428. Car trusts, V. S t , p. 1610; V 8 3 . p. 687.
D IV I D E N D S .— First div. on pref. stock, 4 % , paid July 1 1907 out of
earnings for fiscal year 1906-07. V . 84, p. 804.
On O ct. 15 1907 1 % was
paid, dividends hereafter to be quarterly.
V . 85, p. 600.
L A T E S T E A R N I N G S .— 1 1 9 0 6 -0 7 ..Gross, $9,2 8 4 ,8 8 2 ; net, $3 ,6 0 7 ,4 2 0
12 m os., July 1 to June 30. J1 9 0 5 -0 6 ..Gross,
7 ,7 5 2 ,8 8 9 ; net,
1,934,321
For 3 mos. ending Sept. 30 1907 surplus available for dividends was $ 584 ,140; div. on_pref.stock (1 % )calis for $210 ,00 0.
V . 85, p. 600.
R E P O R T for 1905-06 was In V . 83, p. 1288. N et income for 8 m os. ending
Feb. 28 1907 over charges for Interest, car trusts, & c., $ 1 ,3 1 6 ,3 6 5 ; esti
m ated net income remaining 4 mos. of fiscal year, $648 ,64 7; dlvs. on pref.
stock ( 4 % ) , $840 ,00 0; br„l., sur., $1,1 2 5 ,0 1 2 .
V . S4, p. 804. Official state
m ent as to 10 m onths earnings ending April 30 1907, V . 8 4 , p. 1182.
1905-06.
1903-04.
1903-04.
1 9 02 -03 .
Gross earn ings...................$ 7 ,568,332
$ 6 ,893,656 $6,67 8 ,2 1 5
$6 ,2 2 4 ,4 7 7
Operating expenses____
5 ,532,275
5 ,088,356
4,7 1 0 ,2 0 3
4 ,5 1 9 ,1 1 7
Net earnings__________$ 2 ,036,057
$1,80 5 ,3 0 0
$ 1 ,968,012
Total net Income............... $ 2 ,064,956
$1,837,801
$1,97 6 ,7 0 4
166,475
153,150
150,254
Taxes ...................................
Interest on bonds, & c -.
952,714
899,980
899,989
Miscellaneous___________
12,711
49,459
7 3,528
Deferred renewals_______
_______ 125,020
---------------------
$1,70 5 ,3 6 0
$ 1 ,731,452
151,416
8 99,985
27,681
-----------
Balance, surplus...........
$933,055
$610 ,19 2
$853,023
$652,370
D IR E C T O R S .— Chairman, Hermann Slelcken; Pres., J. A . Edson*
H . R . D u v a l, J. A . Blair, W . T . Rosen, D . G . Boissevaln, H . B lum enthal,
Andrew J. Miller and Y . Vanden Berg, L. F. Loree of New York; John J.
Mitchell of Chicago; S. W . Fordyce and Adolphus Busch of S t. Louis; G . M .
Craig, Port Arthur. T e x .; W . F. H arrity. Philadelphia. P a.; Secretary Is
R . B . Sperry. Office. 25 Broad S t ., N . Y . — (V . 85, p. 600.)
K A N S A S C IT Y T E R M IN A L R Y .— To own a union passenger depot
and terminal at Kansas City, M o., with approaches, to be controlled
by ten railroads v iz.: Chic. R . I . & P a c., A tch . T o p . & S. F ., Chic. Mllw& S t. Paul, Chic. & A lton , S t. Louis & San Francisco, Union Pacific
W aba sh , Chic. Burl. & Qulnov.
Pacific and M o. Kansas & Texas
Incorporated Ju ly 11 1906. Stock authorized, $50 ,0 0 0 ,0 0 0 . The Kansas
City Belt R y . will be acquired. Of the bonds to be authorized, $13,000 ,000
will be used to pay for the land and terminal facilities and to erect the sta
tion. and a further am ount of $4,00 0 ,0 0 0 will be reserved to pay for the
K . C. Belt R y . and retire its bonds. V . 83, p. 95; V . 85, p. 405.
In A u g.
1906 $3,00 0 ,0 0 0 was borrowed at 4 hi % Interest, guaranteed by the ten
roads, bonds to be issued when conditions favor. V . 83, p. 323. Pres.,
H . L. Harm on; S e c., C. C. Ripley; T reas., E . F . Swinney.— (V . 85. p. 405.)
K A N SA S C IT Y VIA D U C T £ T E R M IN A L R Y .— (See M a p .)— Owns and
operates an elevated railway and highway viaduct from Bluff and 6th
Streets, Kansas C ity ,M o ., to Minnesota Avenue and 4th Street, Kansas City,
K an. A branch viaduct, hi mile in length, under construction, connecting
the main structure, and thus the two cities with the lnterlying railroad
and manufacturing districts. Main structure completed Feb. 1907, 1.6
miles, minimum width of 60 feet; material, steel and concrete. See V . 82,
p. 160; V . 84, p. 271, 931.
ST O C K .— Stock authorized, $3,5 0 0 ,0 0 0 ; outstanding. $3,000,000 (par of
shares $100 ), o f which a majority Is deposited in a voting trust for 3 years
from completion of viaduct or until dividends of 4 % have been paid for two
consecutive years. Voting trustees: Harvey E . Fisk. John P. Reynolds Jr.,
Francis S. E aton.
B O N D S .— First mortgage 4 hi % bonds authorized. $3,5 0 0 ,0 0 0 ; outstand
ing, $ 3 ,0 0 0 ,0 0 0 . Beginning with 1910 a sinking fund amounting to 6 % of
gross receipts for preceding year is to be paid July 1 to retire bonds on satis
factory terms; otherwise to be invested.
, „
Pres., Ira G . Hedrick; V .-P . and Treas., J. P . Reynolds Jr.; Sec., E . E ,
Ball.
Directors: J. F . Downing, H . L . H arm on. I. G. Hedrick, E . F.
Swinney, H . C. Flower, C has. F. Morse, C. J. Hubbard Kansas City, M o.F. S. Eaton, J. P . Reynolds J r., R . C. Storey, Boston: Chas. K . Beekman.
New Y o rk .— (V . 8 5 , p. 864.)
K E N T U C K Y & IN D IA N A B R ID d E & R R . CO.— Owns steel cantilever
bridge over the Ohio River at Louisville and 5 miles o f railroad between
Louisville, K y ., and New A lbany, In d ., and 5 miles o f belt line In Louis
ville: also owns Louisville & New A lbany Ferry Co. Successor Jan. 81 1900
t o Kentucky & Indiana Bridge C o., sold In fo r e c l o s u r e subject to the
$ 1 ,000,000 first m o r t g a g e .
The S o u t h e r n R y ., Baltimore & Ohio South
western (B. & O .) and Chicago I n d i a n a p o l is & Louisville o w n the $75,000
c a p i t a l stock, and p a y m onthly, In p r o p o r t i o n to cars h a n d l e d , any deficit I c
o p e r a t i o n s . O f t h e $2,50 0 ,0 0 0 fir s t c o n s o l . 4s, $1,000,000 w e r e r e s e r v e d to
retire 5s due 1911 and $500,000 for Improvements. V . 71. p. 492.
E A R N I N G S .— For year ending June 30 1906, gross, $279 ,89 6; deficit
under interest charges, & c., $202 ,84 8. P res., W . H . M cDoel; Sec. and
T reas., H . W . HeazUtt; Gen. M gr.. W . M. Mitchell.— (V . 71, p. 287. 342.)
K E N T U C K Y & OHIO B R ID G E CO.— V . 8 1 . p . 1492; V . 8 2 , p . 1379.
K E N T U C K Y & TE N N E SSE E R Y .— See page 178.
K E O K U K & H A M ILT O N B R ID G E CO.— Owns bridge across Mississippi
River at K eokuk, l a ., for railroads and foot passengers. The property was
originally leased to four companies, but only two companies now use It,
these being the Toledo Peoria & Western and the W abash.
Regarding
guaranty, see V . 5 9 , p. 96 9 . On Judgment of 1889 $ 2 0 3,00 0 has been cole c te d ; on Judgment of 189 4, $ 1 4 2 ,0 0 0 ; In A p r l l l9 0 1 $14 2 ,0 0 0 was awarded.
V . 7 2 , p . 82 1 . Stock, $ 1 ,0 0 0 ,0 0 0 : par, $ 10 0. C ou p o n s are In default, but
mortgage has never been foreclosed, and overdue Interest Is paid as earnings
permit.
Last coupon paid, first half of No. 46 (due April 1892) In Aug. 1907.
E A R N I N G S .— Year ending June 30 1907, gross, $ 60,972 ; net, *4 0 ,1 8 0 ;
other Income, $11,6 1 2 ; Interest on bonds, & c., $ 2 8,258 : balance, surplus,
$28,4 3 4 .
In 1905-06, gross, $60,762 ; net, $ 3 8 ,8 3 4 .
Pres., Andrew C«rnegie; Treas., Theodore Gilman, 35 W illiam S t ., N .Y . (V . 72, p. 821.)
° CT- 1:111"-I_____ ___RAILWAY STOCKS AND BONDS.
77
78
RAILWAY STOCKS AND BONDS.
R A IL R O A D S .
For explanation of column headings, & c ., see notes
on first page of tables.
[V o l.
I N T E R E S T OR D I V I D E N D S .
M iles Date
of
of
Road. Bonds.
Kansas City St Joseph & Council Bluffs— See Chicago Burlln gton &
___ 1897
Kansas City Shrevep & Gulf Terminal— 1st M red 105
1P05
Kansas City Viaduct & Term— 1st M g s f (text) S.c* &r
Ken & I Br & RR— Ken & I B 1st M gold a ssu m e d ..
1881
1900
First consolidated mortgage $ 2 ,500,000 g o ld ..S .c *
1905
Kentucky & Tennessee— 1st M $850,000 gold (see text)
162
Keokuk & Des Moines— Preferred stock 8 % __________
162 1878
First mortgage interest guaranteed C R I & P . . c *
1869
Keokuk & Hamilton Bridge— First m ortgage_______ c
Kewaunee Green Bay & W esters— First m ortgag e.F .c
37 1891
113 1882
Kingston & Pembroke— First mortgage gold _________
Klondike Mines— First mortgage $30,000 per m ile ..
31 Vi 1905
Knoxville & Ohio— See Southern R y.
Lake Erie & Detroit River— See Pere Marquette R R .
711
Lake Erie & Western— Common stock $20,000 p m ._
711
Preferred stock 6 % (not cum) ($20,000 per m i le ) ..
711 1887
First mortgage ($10,000 per mile) gold________ Ce.c*
Second M for $ 3 ,625,000 ($5,000 p m) gold____ Ce.c
711 1891
Lake Shore & Michigan Southern—S to c k . ___________
Guaranteed 10 % stock (Michigan South & Nor Ind)
1,000 1897
First mortgage $50,000 ,000 gold___________ U s.c*& r
___ 1903
Bonds (not mortgage) $50,000 ,000 gold___ G .c*& r
___ 1906
do
do
$50,000,000 g o l d . . ___________________
1907
N otes $15,0 0 0 ,0 0 0 g ____________
______________c&r
37 1890
K alam azoo & W hite Pigeon first mortgage ass__Un c
41 1889
Battle Cr & Stur 1st M gold guar p & I (see M Cen)
36 1889
Sturgis Goshen & St Louis 1st M gold p & 1 g u a r ..
Kalam azoo Allegan & Gr Rapids stock rental guar
58
58 1888
First mortgage guaranteed____ _______ _____ Un.c
26
Erie & K alam azoo (leased) stock Toledo to Palmyra
47
(Lake Shore System— Mahoning Coal RR— S t o c k ____
47
Preferred stock (see te x t)_______________ ____________
47 1884
1st M Youngs to And etc, guar p & 1 (end)____ Un.c
20 1896
Lake Sup & Ishpem Ry— 1st M $ 1 ,200,000 g s f . . F . c
Size or
Par
Amount
Value. Outstanding
Quincy.
$500
1,000
250 &c
1,000
100
100 &c
1,000
1,000
1,000
£ 6 ,0 0 0
Rate
%
$150,000
4
3,000,000
*Vi
1,000,000
5 g
1,069,000
4 g
650,000
6 g
1,524,600 See text.
5
2,750,000
8
1,000,000
408,000
5
572,000
3 g
6
£ 192 ,00 0
100 11,840 000
100 11,840 000 See text.
1,000
7 ,250,000
5 g
1,000
3,625 000
5 g
100 z49,466,500 12 In ’07
533,500
10
100
1,000 &c CO,ooo.oxio
3Vi g
1,000 &c 50,000,000
4 g
1,000 &c 35,000,000
4 g
1,000 &c 15,000,000
5 g
5
400,000
1,000
79,000
1,000
3 g
322,000
1,000
3 g
610,000
5.95
100
5
840,000
1,000
300.000
10
50
1,500,000 12 in ’07
50
661.367
5
50
1,000
1 ,5 0 0 ,0 0 0
5
1,000
240,000
6 g
When
Payable.
Where Payable, and by
Whom.
lxxxv
.
Bonds— Princi
pal When D ue.
Stocks— Last
Dividend.
Aug 1 1927
F & A 120 Broadw ay, N Y
Sept 1 1934
& J Fisk & Robinson, N Y
J
March 1911
M & s! Louisville
A & o ; Standard Trust Co, N Y A p ril 1 1950
Sept 1908-1923
M & s 1Central Tr Co, Chicago
See text. Office, 71 B ’w ay, N Y
May 2 ’04, 1 H %
A & o
do
do
Oct 1 1923
A <Sc o ; 55 W m St- As earned
April 1 1899
& D! Office, 40 W all S t, N Y
June 1 1921
J
& J, 45 Broadway, New York Jan 1 1912
J
J 30 & D Bk Brit No A m , London Dec 31 1924
J
J
J
J
F
J
M
M
F
J
J
J
A
J
F
F
J
J
J
&
&
&
&
&
&
&
<Sc
&
&
&
&
&
&
&
&
&
&
&
J
J
J
J
A
D
S
N
A
J
D
D
o
J
A
A
J
J
J
Office, Gr Cent Sta, N Y July 15' 07, 1 %
Chase National B k, N Y Jan 1 1937
do
do
July 1 1941
Grand Cent S ta t’n, N Y July 29 1907 6 %
I
do
do
f Aug 1907 5 %
I
1 June 1 1997
• 1 Sept 1 1928
j May 1 1931
Feb 1 1910
do
do
Jan 1 1940
Dec 1 1989
Dec 1 1989
Oct 1907
I July 1 1938
Lincoln N at Bank, N Y Aug 1907 5 %
Grand Cent Station, N Y Aug 1 1907 6 %
Union Trust Co, N Y
Aug 1907 2 Vi %
July 1 1934
do
do
Farmers L & Tr Co, N Y Jan 1 1926
x New York Central holds $ 4 5 ,289 ,200 of this.
K E O K U K & DES M OIN ES R Y .— Owns rrom K eoku k, l a ., to Des
Moines, l a ., 162 miles. Leased for 45 years from October 1 1878 to the
Chicago R ock Island & Pacific R y ., the lessee to pay 2 5 % of the gross
earnings, but guarantees the Interest (not the principal) on the bonds.
Stock is # 1 ,524,600 8 % preferred and $ 2 ,600,400 com m on (par, $ 1 0 0 ), a
m ajority of which is held by the lessee.
D I V I D E N D S -1\ ’94. ’95. ’9 5 -’98. ’ 99. ’00. ’ 01. ’ 02. ’ 0 3 . *04. '0 5 -0 6 .
O n preferred, % ___ . / 9 5 c . 90o
None
H
Vi 1
1
2 XVi None.
Rental: In 1905 -06 , 1904-05 and 1 9 03 -04 , $137,500 (bond Interest)
yearly; in 1902-03, $15 6 ,5 7 4 .— (V . 6 8 , p. 772.)
K L O N D IK E M INES R Y .— Dawson City to Sulphur Springs, 31 Vi m iles,
completed Jan. 1907: projected from Sulphur Springs to the Stewart R iver,
SO miles.
Stock authorized, $ 2 ,5 0 0 ,0 0 0 ; outstanding, $943 ,00 0. The Daw
son Grand Forks & Stewart River R y . C orp., L t d ., owns all the stock and
bonds.
V . 82, p. 509.
Bonds, see table above.
V . 8 1 , p. 725.
Pres.,
J. A . Seybold- Sec., Andrew H aydon, 19 Elgin S t ., O ttaw a, Can.—
( V . 81, p. 725; V . 82, p. 509.)
K IN G ST O N & PEM BR O KE R Y .— See page 178.
L A K E ER IE & PIT TSBU R G H R Y — V . 8 3 , p . 1037.
L A K E ER IE & W E S T E R N R R .— R O A D .— Owns Sandusky. O ., to
Peoria. 111., 413 miles: branch to Minster, 10 miles; branch, Indianapolis to
Michigan C ity, 159 miles: Fort W ayn e to Connersville and branch to Rushville, 129 miles; total owned, 711 miles: leases Northern Ohio R R ., Akron
to Delphos, 162 miles: trackage, 13 miles; total operated, 886 miles.
H I S T O R Y , E T C .— Formed in 1887 after foreclosure of the Lake Erie &
W estern Railway.
(See V . 50, p. 590; V . 85, p. 600.)
In 1899 control
passed to the Vanderbilts, and on Jan. 1 1907 the Lake Shore & Michigan
South, owned 5 5 ,940,000 com. and $5,930,000 pref. stock. V . 71, p. 1269.
D IV I D E N D S — I '91. ’92. ’ 93- 98. ’99. ’00. ’0 1 -’03. ’04. ’05. ’06. 1907
On preferred______j 4 4 H 5 yearly 0
2 4 yearly 3
3
3
3
B O N D S .— Abstract of first mortgage in V . 46, p. 45; of second mortgage
In V . 54, p. 444.
Guarantees $2,50 0 ,0 0 0 5s Northern Ohio, which see.
E A R N I N G S .— For 8 m onths ending A u g. 31, gross, $ 3 ,3 1 9 ,6 8 8 , against
$ 3 ,4 6 7 ,8 5 4 in 1906.
For 6 months ending June 30:
6 M o s.
Gross.
Net.
Oth.Inc. Charges.
Pref. Din. B a l., Sur.
1907 ..$ 2 ,4 3 2 ,5 3 8
$591,421
$3,538 $476,107
(1 % )$ 1 1 8 ,4 0 0
$452
1906 . . 2 ,525,379
615,868
8,426
504,556
(1 % ) 118,400
1,339
A N N U A L R E P O R T .— Annual report for 1906 was in V . 84, p. 927.
Year ending Dec. 31—
1906.
1905.
1904.
Gross earnings___________________ ______ $5,21 2 ,8 1 2
$ 5 ,037,295
$4,998,010
N et (including other incom e)________
1,451,318
1 ,450,454
1,349,675
Deduct— t a x e s ......................................... .
263,066
257.522
213,913
543,750
543,750
543,750
Interest on bonds___________________
Northern Ohio interest guaranteed
125,000
125,000
125,000
Rentals and miscellaneous__________
69,341
80,530
56,465
Dividends on preferred stock______( 3 % ) 3 5 5 ,2 0 0 ( 3 % ) 3 5 5 ,2 0 0 ( 3 % ) 3 5 5 ,200
Additions and betterm ents________
87,092
70,139
44,658
$11,289
Balance, surplus____________________
$7,868
$18,313
— (V . 83, p. 1408; V . 84, p. 927; V . 85, p. 345, 600.)
L A K E SHORE & M IC H IG A N SO U TH ER N R Y .— (See M a p s New York
Central.) — Operates from Buffalo to Chicago with branches. The main line
(540 miles) includes 26 miles between Toledo and Palm yra, M ich., under
lease from the Erie & K alam azoo (535 miles has double track).
Leased ('see (Ms Co.)
M iles.
Road owned directly.
M iles.
58
Buffalo. N . Y . , to Chicago. 111..540 K alam azoo A & G. R __________
51
Sundry branches__________________339 Jamestown & Franklin________
Mahoning Coal R R ______________
72
Entire stock owned.
Erie & K alam azoo (26 miles) ..T e x t .
Detroit & Chicago________________ 26
Detroit Hillsdale & S W .............
*65
Detroit Monroe & T oledo________ 55
Fort W ayn e & Jackson________
*98
K alam azoo & W hite Pigeon______ 37
Detroit Toledo & Milwaukee___
66
Northern Central Michigan_______ 61
Battle Creek & Sturgis--------------7
Sturgis G & St Louis______________29
Central T runk______
___________ 5
Grand total oper. Jan. 1 ’0 7 . 1,520
Elkhart & W estern___ ___________ 11
O f which owned------------- 1,103
B y control of "N ick el Plate” the Lake Shore has still another line from
Buffalo to Chicago.
Operates Dunkirk Allegheny Valley & Pittsburgh,
D unkirk, N . Y . , to Titusville, P a ., 91 miles, since O ct. 1 1901 for account
of New York Central.
(V . 73, p . 663.)
Leases portion of Detroit Toledo &
Milwaukee R R ., extending from Dundee to Hom er, M ich.. 66 Vi miles.
V . 74, p. 379; V . 76, p. 1026; V . 82, p. 749.
In July 1907 acquired the Chi
cago & WabaRh V alley, a short line in Indiana. V . 85, p. 284.
Owns $ 1 7,000 ,000 stock of the Chicago Indiana & Southern R R ., which
see. V . 84, p. 7 53, 754.
Branch from Franklin, P a ., to Brookville, 55
m iles, was under construction in July 1907 and 9 miles of track laid.
O R G A N I Z A T I O N , & c.— A consolidation on A ug. 16 1869.
In 1898-99
$45,2 8 9 ,2 0 0 of the capital stock was purchased by the N . Y . C. & H . R . R R . ,
which gave in exchange Its 3 Vi % bonds at the rate of $200 In bonds for $100
in stock.
V . 66. p. 288; V . 6 9 , p. 1237.
New York Chicago & St. Louis road has been controlled by ownership of
stock since 1882, Lake Shore now owning $ 6 ,240,000 of Its com m on.
$ 6 ,2 7 5 ,0 0 0 of Its second preferred and $2,50 3 ,0 0 0 of Its first preferred stock.
The com pany also controls and leases the Mahoning Coal R R . (see Lake
Shore “ System ’ below) and owns (besides entire stock of proprietary lines!
$ 5 ,0 0 0 ,1 0 0 Pittsburgh & Lake Erie stock; $ 2 3 ,148 ,100 o f the $40,000 ,000
Cleve. Cln. Chic. & St. Louis common stock: also $5 ,9 4 0 ,0 0 0 of the $ 1 1 ,840.000 common and $5 ,9 3 0 ,0 0 0 of the $11,840 000 Lake Erie & Western
preferred. V . 71 p. 1269: V . 72 p 870- V . 82 p. 749.)
In 1901 purchased from surplus earnings $ 3 ,200,000 Lehigh Valley R R .
Stock for $1,9 2 0 ,0 0 0 ; total Lehigh stock owned, $5,7 0 0 ,0 0 0 . V . 74, p. 879.
Also owns one-half of the $60,665 ,000 Reading Co. stock acquired by the
Pennsylvania-Vanderbllt Interests, v iz ., 5 6 ,065,000 first preferred, $ 14,265.000 second preferred and $10,0 0 2 ,5 0 0 common stock, the other half
being held by the Baltimore & Ohio. V . 8 0 , p. 1856.
A s to purchase of
one-sixth Interest In majority Hocking V alley R y. common stock, see that
com pany. V . 7 6 , p. 102, 158; V . 77, p. 451; V . 8 3 , p. 37.
List o f stocks of companies owned Dec. 31 1906, V . 84, p. 754. See also
V . 7 8 , p . 4 8 , 1904; V . 80, p . 1852; V . 82, p. 749.
D I V I D ’S .— V 9 2 . ’ 9 3-97. ’98. '9 9 . ’ 00. '0 1 . '0 2 . '0 3 . ’04. '0 5 . ’06. 1907 .
Slnce’9 1 . p .c .J 6 H 6 y ’rly. 6 ^ 7
7
7
7
.7
8
8
8
12
For $ 5 0 ,000 ,000 mortgage of 1907, see abstract In V . 64, p. 1182, and V .
6 6 , p. 1140; V . 68, p. 1182; V . 73, p. 1264; V . 75. p. 290; V . 77. p. 2035.
O f the $50,0 0 0 ,0 0 0 authorized debenture 4s of 1903, $40,000 ,000 were
sold to pay off the $ 2 5 ,000 ,000 loan m ade for the purchase of Reading
stock, which matured Jan. 1904. and floating debt Incurred for other acqui
sitions: balance sold in 1905. They are to be secured by any new mort
gage. V . 77. p. 1747, 2035: V . 7 8 , p. 48; V . 8 0 . p. 1912.
In Feb. 190# $ 3 5,000 ,000 of 25-year 4 % bonds of a new Issue of $ 5 0 ,0 0 0 ,000 were sold for Improvements. V . 8 2 , p. 392; V . 84, p. 996.
G U A R A N T I E S .— As to guaranties additional to those shown In table
above see Detroit Hillsdale & S. W . and Fort W ayn e & Jackson.
G E N E R A L F IN A N C E S .— Nothing has been charged to construction or
equip, acct. since 1883 except $ 7 ,500,000 for new equip, in 1906, the outlays
charged to operating expenses for new equip, acct. am ounting in 1906 to
$1,201 ,§77 and In 1905 to $ 3 ,3 6 0 ,7 7 3 , and for construction to $4,22 1 ,8 4 6 In
1906, against $ 3 ,7 4 3 ,0 2 0 , these items being exclusive of expenditures for
renewals. Profit and loss surplus Jan. 1 1907. $17 ,2 9 8 ,5 2 9 .
In Jan. 1907
dividend rate was raised from 8 to 1 2 % .
In Jan. 1907 $15,0 0 0 ,0 0 0 threeyear 5 % notes were sold. V . 84, p. 271.
E A R N I N G S .— For 8 m onths ending A u g . 31, gross, $29,5 3 0 ,3 3 8 In 1907.
against $28,0 1 4 ,9 3 3 in 1906.
For 6 months ending June 30 (partly estimated in 1907 );
6 M o s .—
Gross.
Net.
Oth.Inc.
Charges.
B a l.,Su r.
$5,27 6 ,2 6 6
$ 1 ,950,000
$ 4 ,206,667
$3 ,0 1 9 ,5 9 8
1907_______ $ 2 1,589 ,538
1906 ............. 2 0 ,607,096
4 ,1 9 5 ,9 8 2
1 ,650,000
3 .429,999
2 ,415,982
Dividends of 6 % call for $ 2 ,967,990 In 1907, against $ 1 ,978,660 (4 % ) in
1906, leaving a surplus of $51,608 in 1907, against $437,322.
A N N U A L )R E P O R T for 1906 at length was In V . 84. p. 7 44, 753.
Year ending Dec. 31—
1906.
1905.
1904.
Total gross earnings___________________ $ 4 2,544 ,378 $ 3 8 ,600 ,810 $35,1 6 1 ,0 5 3
Operating expenses____________________ 32,675,801
31,33 1 ,5 1 0
2 7 .184,280
N et e a r n in g s ..........................................$ 9 ,868,577
$ 7 ,269,300
$ 7 ,976,772
N et, including other Income..................$14,022 ,082 $10,787 963 $10,547 ,742
Rentals paid.......................................... ..
1 ,450,186
1,305,613
1.068,797
Interest on debt............................- ............ 4 ,593,294
3 ,911,037
3,9 1 7 ,8 5 2
T a x e s ................................................................
1 ,438,640
1 ,050,000
1.050,000
Dividends on guaranteed stock_______
53,350
53,350
53,350
Dividends on common stock............. (10)4,9 4 6 ,6 5 0 (8)3 ,9 5 7 ,3 2 0 (8 )3 .9 5 7 ,3 2 0
Surplus over'dlvldends_____________ $1 ,539,962
$510,645
— (V . 84, p. 744, 753, 9 96, 1182; V . 85, p. 284, 345, 531.)
$500,422
LAK E
SHORE
SY ST EM .— M AH O N IN G COAL
R R .— Owns from
Youngstown to Andover, O ., and branches, 72 miles.
Branch (prac
tically second track) from Doughton to Plym outh, on the Lake Shore. 43
miles, Included above. o f which, 18 miles, built by Lake Shore, was completed
In 1903.
Leased In perpetuity for 4 0 % of gross earnings to Lake Shore,
which Jan. 1 1907 owned $865,900 common and $399,500 preferred stock.
D IV I D E N D S .— I’99.
90. '9 1 . ’ 92. ’ 9 3 . '94. ’ 95 to A u g .'0 6 . ’ 07.
On com m on .'
J 4 Vi
5
4H
SVi
8
8
10 yearly.
12
The preferred stock certificates are 5 % guaranteed and contain a clause
making them redeemable at par at option of com pany.
Year ending Dec. 31 1906, rental and other income, $1 ,0 6 3 ,4 3 4 ; surplus
over Interest and 11 % on com . and 5 % on pref., $78 9 ,6 4 4 .— (V . 83, p .1524)
L A K E SU PE R IO R SO U TH ER N R Y .— Projected from Huron B ay,
Barago C o ., M ich., southwesterly to Madison, W ls ., about 200 miles.
Stock, authorized, $ 1 2,000 ,000 ; outstanding Sept 1907. $600 ,00 0. The
bonds ($12,000,000 authorized issue) are subject to call at 103 on and after
Jan. 1 1917. O f the bonds. $600,000 were Issuable at once for rights of
way and the old grade from Huron Bay to Champion. M ich., 35 miles, and
remainder as follows: $3,500 per mile of right of w ay, $1,500 per mile of
constructed road for general purposes and $30,000 per mile for construc
tion, equipm ent, &c.
V . 83, p. 1228.
President, M. C. Phillips, Oshkosh,
WTis.; Secretary and Treasurer, W . K . R ideout.— (V . 83, p. 1228.)
L A K E SU PE R IO R T E R M IN A L & TR A N SFE R CO.— Owns 16 miles o f
track used for transferring cars between the depots and tracks at W est
Superior, W ls ., o f the proprietary companies, viz., Northern Pacific, Chic.
St. Paul Minn. 4 Omaha and Duluth S ath Shore & Atlantic, which own
the $119,400 stock ($1,200,000 authorized).
Bonds, see table above.
D . M . Phllbln. P res., W est Superior, W ls .— (V . 82, p. 161.)
L A K E TA H O E R Y . & T R A N S P O R T A T IO N CO.— See Sect Apr. ’ 06.
L A N C A ST E R O XFOR D & SO U TH ERN R R.— See page 178.
LA N SIN G M A N U F A C T U R E R S’ R R .— See V . 8 1 . p. 1375; V . 82, p. 692.
L A R A M IE H A H N ’ S P E A K & PACIFIC R Y .— Owns from Laramie, W y o .
to Centennial, 30 miles, opened July 1907; extension proposed from Cen
tennial to Grand Encam pm ent, being balance of 100 miles. Stock au
thorized, $ 9 ,000,000 com m on, practically all Issued; pref. 6 % non cu m .,
$ 1 ,0 0 0 ,0 0 0 au th .; par of shares. $10.
(See V . 7 7 . p 824.)
Bonds are
issued at $8,000 per mile on completion of 5-m lle sections. Pres., Fred. A .
Miller, Laramie, W y o .— (V . 82, p. 805.)
LE A V E N W O R T H T E R M IN A L R A I L W A Y & B R ID G E .— Owns highway
and railroad bridge (opened Jan. 1 1894), 1,110 ft. long, over Missouri River
at Leavenworth, K a n ., and valuable terminal property in that city. The
m tge. contains a s. f. provision. K ansas City St. Joseph & C. B. (Chicago
B . & Q.) and Chic. R . I. & P. use the bridge at an annual rental of $16,000
each, under a 30-year contract from 1894, and Chic. G t. Western from Sept.
1 1895. for 30 yrs.; rental $ 14,250 . For year 1906-07. gross, $ 7 0 , 6 1 6 : net
$51 629: int . $ 30,000 ; bal. sur. .$21,629. Stock, $ 6 0 0 ,0 0 0 .— (V . 6 9 . p. 494.)
L E H IG H & HUD SO N R IV E R R Y .— Owns from Greycourt. on Erie R R .
to Belvidere. N . J .. on the Pennsylvania R R ., 63 miles.
Proprietary lines
Orange County R R (entire stock owned— no bonds Issued). Hudson Jet. to
M aybrook, N . Y . , on Cent. N . E . R y . (Poughkeepsie Bridge), lnel. track
age, a total of 13 m .; S. E. & P. R R ., Phlllipsburg to Easton, 1 m .; track-
79
RAILWAY STOCKS AND BONDS.
Oar., 1907.J
RAILWAY STOCKS AND BONDS.
80
R A IL R O A D S .
F or explanation of column headings, & c ., see notes
on first page of tables.
Lake Superior So— 1st M $12,000 ,000 g red t e x t____ K
Lake Superior Term & Transfer— 1st M $ 500 ,00 0____
L Tahoe Ry & Tr Co— 1st M g $500,000 S f beg 1905
Lancaster Oxford & Southern— 1st M $200,000 g o l d ..
Lansing Manufacturers— 1st M serial Interest ren tal. .
Laramie H P & Pac— 1st M $800,000 gold____ AB.c*
Leavenworth Terminal Ry & Bridge— 1st M g o ld -.C e
Lehigh & Hudson River— 1st M gold Int red to 5 %_Ce
Second mortgage gold_________________________________
W arw ick Valley first mortgage extended In 1 9 0 0 ..
Seeond m ortgage____________________________________
Leh & Hud R lv gen M $3,000,000 g (see text) -C e.c*
Equip trust certs gold due $40,000 y e a r ly .. PeP.c
Lehigh & New England— 1st M $1,000,000 gold__F P
N ortham pton 1st M g $300,000 guar red 105_FP.c*
Leblgh & Delaware 1st gen M redeem at 1 0 5 . ............
Consolidated mortgage $3,000,000 gold call at 1 0 5 ..
Lehigh Valley— Common stock____________________ QP
Preferred stock 1 0 % (V 7 9 , p 151, 2 6 9 )__________GP
First mortgage extended in gold In 1898___ GP.c&r
Second m o rtg a g e_____________________________________ r
Consolldat Ml coupon & reg $4,762,000 4 }^ s ._ c & r
$40,000 ,000 ja n n u ity $2,538,000 are 4 M s ____ FP
General consol M $150 ,00 0,00 0 gold____ G P ,c * & r ..
Collateral trust bonds $19,000 ,000 see t e x t .G P c*& r
Lehigh & N Y 1st M gold guar p & 1_______ M p.c*& r
Leh V al of N Y 1st M gold guar p & 1 (end) _ GP.c* &r
Lehigh & Lake Erie first M $3,000,000|sold_____
Lehigh Val Term 1st M gold guar p & i.end.Ce.c* &r
Easton & A m b oy 1st M Easton to Perth A m b oy guar
Easton & Nor 1st M gold guar by Leh V a l_G P .c*& r
Middlesex Valley 1st M $600,000 gold_______ Ce.c*
P en n & N Y C an & R R — Cons gu (text) p & l (en d ).G P .r
Elm ira Cortland & Nor 1st pref M gold.......... .C e.c*
First mortgage gold guaranteed p & 1 (end)___ Ce
Morris Canal stock 4 % guaranteed 999 years_______
Preferred stock 10 % guaranteed 999 years_______
Date
of
of
Road. Bonds.
1906
All
101
101
117
283
"in
60
12
22
119
119
1901
1905
1905
1904
1893
1881
1887
1879
1881
1890
1906
1895
1902
1904
1903
1868
1870
1873
1873
1903
1905
1895
1890
1907
1891
1880
1895
1892
1888
1884
1884
Size, or
Par
A mount j
Value. Outstanding'
IN T E R E S T OR D IV ID E N D S .
Rate
%
When
Payable.
$1,000 NoneSep’ 07
5 g
J
$195,000
6
A
1,000
300.000!
A
5 g
100 &c
200,000!
A
5 g
75,000i
J
5 g
1,000
120,0001
J
6 g
1.000
600,000!
J
5 g
1,000
800,000
J
5 g
1,000
164.000
J
5 g
500 &c
145.000
A
500 &c
240.000
6
A
1 000
1,320,000!
J
5 g
1,000
360.000
4H g J
1,000
1,000,0001
J
5 g
1,000
300,000[
5 g
|J '
1,000
750.0001
5
J
1,000
1,380,000! . 5 g
!a
50 40,334,800: 6 in
1907 j
50
106,300;
10
j
1,000
5.000.000!
j
4 g
1,000
6 .0 0 0 .0 0 0 j
M
7
1,000 10,400,000! \ y , & 6 J
1,000 12,600,000: 4 y 2 & 6 J
1,000 &c 22,639,000!
M
4 g
1,000 18,500,000
4 g
F
1,000
2,000,000}
4 g
|M
1,000 15.000.0001
4*S g|J
2 .0 0 0 . 0 0 0 :
4 t 2 g;M
l'o o o 10.000.000;
5 g
A
1,000
6.000.000'
5
M
500 &c
5 1 ,000|
4J4 g M
1,000
211,000!
5 g
1,000
8,500,000 4 4 ^ , 5
1,000
750,000'
6 g
1,000
1,250,000!
5 g
100
706,700:
4
.
100
903,600'
10
age, Penn. R R ., Belvldere to Phlllipsburg, 13 m .; D . L . & W . trackage,
Andover Jet. to Port Morris, N . J ., 8 m .; total oper., 98 miles.
V . 79, p.
269.
Stock, $1,340,000; par, $100.
B O N D S .— Of the $1,320,000 gen. m tge. bonds ou t, $1,062,000 are guar,
jointly p. and i., by the Central R R . of N . J. and Leh. Coal & N av. Co. An
additional $ 1 ,535,000 are reserved to take up prior liens and $134,000 for
extensions or acquisitions of connecting roads. See form of guaranty,
& c., In V . 67, p. 788.
Equipm ent 5s June 30 1906, $70,0 0 0 .
Equip
m ent trust 4 ^ s , V . 8 3 . p. 96.
E A R N I N G S .— 12 m os., 1 1 9 0 6 -0 7 ................ Gross, $805 ,29 8; net, $306,079
July 1 to June 30.
J1905-06__________Gross, 6 26,970 ; net, 254,302
Surplus over charges, $ 43,388 , against $72,491 In 1905-06.
A N N U A L R E P O R T .— Incl. Orange County R R ., V . 8 3 , p. 1588.
Year end. June 30. Gross.
Net.
I n t., tax, &c.
Bal.,sur.
1 9 0 5 -6 _______________ $662,386
$255,241
$182,750
$72,491
1 9 0 4 -5 _______________ 481,772
166,523
145,027
21,496
Lewis A . R iley, Pres., Philadelphia, Pa.
New directors, D ec. 1904,
V . 7 9 , p. 2642 .— (V . 8 1 , p. 1791; V . 82, p. 449; V . 83, p. 9 6 , 1588.)
LE H IG H & N E W E N G L A N D R R .— Operates road from Slatlngton, P a .,
to Campbell H all, N . Y . , 95 m ., Bethlehem to Bangor, P a ., 31 m .; Bath to
M artin’s Creek, P a ., 20 m .; branches, 32 m .; total, 178 ra ., of which two sec
tions, aggregating 35 m .. are trackage, leaving 143 m . owned.
V . 7 9 , p.
2642.
In Jan. 1904 Lehigh Coal & N avigation Co. acquired control.
V . 7 8 . p. 2 2 9 , 1781 1962.
S E C U R IT I E S .— Stock, $ 1 ,0 0 0 ,0 0 0 ; par, $50.
Of the consols of 1903
($3,000,000) $1,30 0 ,0 0 0 is issuable to retire underlying bonds, the remainder
for extensions and improvements; trustee, Provident Loan & Trust C o .,
o f Philadelohia. V . 7 7 , p. 951
E A R N I N G S .— For year ending June 30 1906 (132 m iles), gross, $565,109;
net, $205 ,67 3; charges, $185,991; balance, surplus, $19,6 8 2 .
Pres., W .
Jay Turner; V .- P ., Lewis A . Riley; Sec. and Treas., H . F . Baker.— (V . 78,
p. 1962; V . 79, p. 2642.)
LE H IG H V A L L E Y R R .— (See M a p .) — Jersey C ity, N . J ., opposite N . Y .
C ity , to Buffalo, N . Y . , 450 miles, with branches, viz.: (*See these c o s .).
F ee or Entire Stock Owned
Lehigh & N . Y . , P a. State line
M iles.
to No. Fair H aven, N . Y ___
115
70
Buffalo, N . Y . , to Sayre, P a ___ 181 O th e r ____________________________
W llkesbarre, P a ., to Jersey
Leased—
C i t y ............................................. ..
174 State Line & Su llivan . .................
*24
Elm ira Cortland & N o r*_______ 139 O t h e r ____________________________
4
B ra n ch es________________________ o 44 Trackage to Susp. Bridge, & c ._
49
Pa. & N . Y . , Wllkesbarre to Pa.
State line (with 43 miles
Total June 30 1907___________ 1,440
branches) ____________________
140 Second track____________________ 579
H I S T O R Y , & c.— In 1901 the Erie, Lackawanna, Central of New Jersey,
Reading and Vanderbilt interests entered the directory. V . 7 2 , p. 137, 391.
T h e Lake Shore & Mich. So. in 1901 purchased $ 3 ,200,000 of the stock.
V . 7 4 , p. 883. The Reading Co. on June 30 1907 owned $ 1 ,000,000 and the
Central R R . of N . J. $ 1 ,600,000 stock. V . 8 1 , p. 971.
For list of securi
ties ow ned, see V . 6 6 , p. 187.
In October 1905 the entire capital stock of Coxe Bros. & C o ., owning ex
tensive coal properties in Luzerne and Carbon counties, P a ., and o f the
Delaware Susquehanna & Schuylkill R R ., extending from Drlfton to
Gowen, P a ., 31 miles, with branches, 17 miles, were acquired. See
“ Finances” below. V . 8 1 , p. 1175, 1242, 1376; V . 82, p. 100; V . 83 p . 702.
C O A L P R O P E R T Y .— The Lehign Valley R R . Co. owns 3,619 acres of
coal lands and all the ($650,000) stock of the Lehigh Valley Coal C o., which
In December 1893 owned anthracite coal and surface lands;
Total acres. Coal acres.
E st’d yield
Owned in fee ................. ......... ....................1 5 ,2 1 7
7,242
124,000,000
Perpetually leased________________ _____ 8,123
5,741
111,000,000
Term le a s e s _____________ __________ _
1,708
1,708
47,000,000
Controls through stock o w n e d .............. 9,229
4,519
50,000,000
Collieries 54, dally capacity about 30,000 tons.
(V . 62, p. 364.)
The
Hazelton Coal Co. (chartered in 1896) stock Is owned and its $2,000,000
first mortgage 5s also owned and guaranteed— see V . 6 4 , p. 137.
In 1905
purchased the holdings of Coxe Bros. & Co. V . 81, p. 1175; V . 83, p. 702.
The Coal Co. shipped from collieries owned and controlled 8 ,867,254 tons
of anthracite coal In 1908-07, against 7,6 6 7 ,6 6 5 tons In 1905-06; total coal
and coke tonnage, 1906 -07 , was 14,374 ,2 1 6 .
D I V ’S— V 8 7 . ’88 to ’9 1 . '9 2 . ’9 3 . ’ 94 to ’03. ’04.
’0 5 . ’ 0 6 .
1907.
SInce’8 3 ,% J 4 ^ 5 yearly
5M
4
None. A u g .,1
4
4 See below.
In Jan. and July 1907 2 % and 1 % extra
V . 8 4 , p . 1 02, 158, 1551.
B O N D S .— The gen. consol, m tge. of 1903 will secure $150 ,00 0,00 0 bonds
bearing not to exceed 5 % Int., covering the entire road, the stock of the
Lehigh V a l. Coal Co. and other stocks owned. O f the bonds, $10,000,000
were Issuable at once, $ 1 0,000 ,000 were reserved to retire $8,51 6 ,0 0 0 car
trusts, ser. A to G In d u s., and $ 1 ,535,000 coal purchase bonds, $96,000 ,000
to retire at or before m aturity outstanding fixed obligations amounting to
$9 4 ,130 ,000 (incl. the coll. trust bonds, and $2,00 0 ,0 0 0 coal trust certificates
of 1902, which were called for paym ent), on paym ent of which the
general consols will be a first lien on all the property of the system , except
as to $12,600 ,000 annuity bonds, which are a perpetual charge; the re
maining $ 3 4,000 ,000 are issuable at not exceeding $2,00 0 ,0 0 0 a year, or
such larger amounts as m ay be authorized by stockholders, beginning Jan 1
1906 , for acquisitions, terminals, coal properties, equipm ent, &c. Old
bonds m ay, however, be extended if necessary for not over two years.
Provision m ay be made at the time of issue of bonds thereunder for the right
to convert Into stock at the pleasure of the holder not over $ 2 5 ,000 ,000 at
any one time. V . 77, p. 824; V . 78, p. 287; V . 79, p . 1642; V . 8 2 , p. 1380.
See property covered in V . 8 1 , p. 211.
The purchase of the stock of Coxe Bros. & Co. ($2,910,150) and o f the
Delaware Susquehanna & Schuylkill R R . ($1,500,000) In O ct. 1905 was
financed by an Issue of $19,000 ,000 coll. trust 4 % bonds, to be retired In
$500,000 aeml-annual Instalments beginning A u g. 1907 and secured by
deposit of those stocks. The bonds are subject to call as a whole at 102 H
beginning A ug. 1 191?. or In the order of serial numbers. V . 81, p. 1175
1242, 1376; V . 8 2 , p. 103; V . 8 3 , n. 702; V . 84, p. 1428.
[V o l.
&
&
&
&
&
&
&
&
&
&
&
&
&
&
&
&
&
&
&
Where Payable, and by
Whom.
lxxxv.
Bonds— Princi
pal, When D ue.
Stocks— Last
Dividend.
Knickerbocker Tr Co, N Y Jan 1 1947
O .................................................. !April 1 1909
O Merc Tr Co, San Fran jOct 1 1931
o Farmers Tr Co, Lancaster April 1 1935
Union Trust Co, Detroit July 1 1915- 30
Am er Loan & Tr Co, Bost July 1 1929
Central Trust Co, N Y
jJan 1 1923
National Exch Bank,] (July 1 1911
N Y , and First N at. July 1 1917
B k, W arw ick, N Y :July 1 1911
o
!April 1 1912
o
July 1 1920
;June 1 ’0 8 -’16
July 1 1945
929 Chestnut S t, Phila
do
do
Jan 1 1952
do
do
July 1 1954
O
do
do
Oct 1 1953
Checks mailed
July 13 1907 3
July 13 1907 5
do
D Office, 228 So 3d S t, Phila June 1 1948
S
do
do
Sept 1 1910
D
do
do
Dec 1 1923
do
do
Irredeemable
D
JPM organ&Co,N Y& P hil M ay 1 2003
do
do
Aug ’08-Feb 26
do
do
1945
Sept
1J P Morgan & Co, N Y July
1940
Mar
1957
and Philadelphia
Oct
1941
O /
N Office, 228 So 3d S t, Phil May
1920
Nov
1935
do
do
N
N ov
1942
N Philadelphia
O Lehigh Valley R R , Phila April 1 1939
do
do
IApril 1 1914
O
do
do
[April 1 1914
O
A Office, 228 S 3d S t, Phila; A u g 1907 2 %
do
do
! Aug 1907 5 %
A
G U A R A N T I E S .— Elmira Cortland &. Northern R R .— This road, with the
Canastota Northern, runs from Elmira to Canastota and Camden, N . Y . ,
140 miles. S tock, $ 2 ,0 0 0 ,0 0 0 , is owned. V . 6 2 , p. 364, 1177.
Lehigh Valley Railway Co. of New York.— Owned Buffalo, N . Y . , to near
Sayre, P a ., 175 m . double track, and branches to Ithaca, Auburn, & c., 106
1905 consolidated with other sub. cos. and In 1907 absorbed the Lehigh &
Lake Erie; total mileage now is 501 miles. Stock, $ 1 1 ,2 0 0 ,0 0 0 , all owned
by Lehigh V & l.R R ., was in June 1907 authorized to be increased to $ 1 3 ,5 4 3 ,000, of which $11,5 4 3 ,0 0 0 issued.
Mortgage abstract, V . 51, p. 114; V . 7 7 ,
p. 147, 972; V . 8 1 , p . 784; V . 8 3 , p. 38; V . 8 4 , p. 1366.
Lehigh Valley Terminal Railway.— Owned double-track road from South
Plainfield, N . J .. to Jersey C ity, with about 125 acres at Jersey City and a
large water front there, &c. Merged In A u g. 1903 wltn other sub. cos.
in L . V . of N . J ., having a total mileage of 119 m .. Its $ 1 2 ,506 ,000 out
standing stock ($7,927,000 additional in treasury) being all owned by
Lehigh Val. R R . V . 7 7 , p. 972; V . 53, p. 640, 880; V . 8 1 , p. 784; V . 8 3 , p .703.
M orris Canal.— Leased for 999 years and dividends guaranteed.
Bonds
all owned by Lehigh V alley. See V . 5 0 p. 137.
Pennsylvania &, New York Canal A Railroad.— Leased for 99 years from
D ec. 1 1888 to Lehigh Valley, which has assumed Its debt and owns all its
stock. The consols Include $ 4 ,000,000 of 5 per cents, $ 3 ,000,000 of
4s, $1,50 0 ,0 0 0 Of 4 U s .
V . 62 p. 9 50.
Lehigh Valley Coal C o.— See Coal Property” above. V . 8 1 , p. 1726.
Consolidated Real Estate C o.— See V . 78, p. 1223; V . 7 9 , p. 1271; V . 8 3 ,
p. 702. T o June 30 1907 none had been issued.
Seneca County R y ., $500,000 guaranteed bonds, none Issued June 30
1906. See V . 79, p . 1271.
In March 1907 the Lehigh & Lake Erie made a mortgage to secure $ 3 ,0 0 0 ,000 bonds for a terminal line, of which $ 2 ,000,000 were sold in 1906-07.
V . 81, p. 211; V . 83, p. 702.
The road is leased for 999 years. V . 84, p.
1248; V . 85, p. 412.
E A R N I N G S .— For 2 mos. ending A ug. 31 1907, gross, $ 6 ,765,646; net,
$ 2,8 4 1 ,5 3 8 .
A N N U A L R E P O R T .— Fiscal year ends June 30. The report for 1906-07
was given In V . 8 5 , p. 4 01, 4 10. See also editorial, p. 378.
1906 -07 .
1905-06.
1904-05.
Earnings from coal____________________ $ 1 5 ,110 ,899 $13,248 ,565 $13,530 ,337
Miscellaneous fre ig h t............. .................. 1 4 ,996,673
13,934,127
12,432,583
Passengers......................................................
4 ,3 6 3 ,4 5 2
3,9 7 1 ,3 9 2
3 ,509,825
M all, express, &c ........................................
1 ,597,408
1 ,635,772
1,803,098
Total g r o s s .............................................. $36,0 6 8 ,4 3 2 $32,789 ,857 $31,275 ,843
Operating expenses____________________ 22 ,1 1 4 ,2 5 3
20,152,211
18,929,701
Net earn in gs............................................ $ 1 3 ,954 ,179 $12,637 ,646 $12,346,141
Other Income___________________________
945,138
808,852
453,011
Total Income.............................................$ 1 4,899 ,317 $ 1 3 ,446 ,498 $12,7 9 9 ,1 5 2
Additions and Improvements________
2,0 6 8 ,5 9 0
1 ,570,227
1,411,551
Interest and rentals ..................................
5 ,865,976
5,6 7 3 ,8 9 2
5,2 1 7 ,3 7 6
T a x e s ............. .............. ............................... ..
885,909
707,040
724,050
Miscellaneous___________________________
5 3,888
43,755
53,286
Total deductions----------- --------------------$8,87 4 ,3 6 3
$ 7 ,994,914
$ 7 ,406,263
Net In c o m e ...................... - .......................... $6 ,024,954
$ 5 ,451,584
$ 5 ,392,889
Net Income coal properties....................
111,250
318,489
635,548
Total net I n c o m e .................................. $6 ,1 3 6 ,2 0 4
$5,77 0 ,0 7 3
$ 6 ,028,437
Dividends on preferred s t o c k ________ (10)10,630
(10)10,630
(15)15,945
Dividends on com m on stock..................(5)2 ,0 1 6 ,7 4 0 (4)1,613,392 (3)1,210,044
Balance, surplus......................... ............$4 ,1 0 8 ,8 3 4
$4,146,051
$4,80 2 ,4 4 8
Pres., E . B . Thom as, 143 Liberty S t ., N . Y .; A sst, to Pres., E . A . A l
bright; 1st V .-P ., J. A . Middleton; Gen. M gr., M. B. Cutter; Treas., W . C.
Alderson; Sec., D . G. Baird, 228 So. 3d S t., Philadelphia; Executive C om .:
Chairman, Eben B. Thomas; Geo. F. Baker, E. T . Stotesbury, Charles
Steele, H . M cK . Tw om bly and Geo. F . Baer.
Directors— Edward T . Stotesbury, S. P. W olverton. Joseph W harto n,
Geo. H . McFadden, Charles Steele, Irving A . Stearns, Abram N esbitt,
H . M cK . Tw om bly, Eben B. Thom as, Geo. F . Baker, E. B. Sm ith, Geo. F .
Baer and R obt. C. Lipplncott.— (V . 85 p. 401 410 1005.)
LEXIN GTON & EASTERN R Y .— Owns from Lexington, K y ., to Jackson,
K y .. about 92 miles.
Extension from Jackson to Hazard, K y ., 33 miles,
to be begun In spring of 1907. Stock, $500,000; par, $100.
Reorganized
without foreclosure in 1901 per plan V . 73, p. 663.
B O N D S .— The 1st mtge. 5s were extended at same rate of Int. to July 1
1911, the company having the right to call and redeem all or any of them at
102 and int. All Int. on the gen. mtge. bonds was waived to Aug. 1 1901,
Int. thereafter to be paid In cash Feb. and Aug. 1, as follows; 2 % yearly
for 5 years, then 3 % for 5 years and 5 % yearly thereafter to maturity.
D e
ferred debentures will be issued from time to time for bal. of the Inc. not paid
In cash on the gen. m tge. bonds accruing after Aug. 1 1901, such debentures
($375,000 eventually) being payable without Int. whenever the company
shall decide (either in cash or gen. m tge. bonds), but Immediately If *
dividend Is declared on stock.
E A R N I N G S — 2 m os., 11907.......................Gross, $109 ,30 0; net, $38,647
July 1 to A u g. 31.
J19 0 6 -------------------Gross,
103.659; net,
45,071
Year ending June 30 1907, gross, $583 ,52 9; net, $199,043; other income,
$910; charges, $137 ,90 0; b a l., sur., $62,053 .
Pres., Arthur Cary, Lexing
ton, K y .— (V . 76, p. 542.)
LE X IN G T O N UNION STATION CO.— Owns station at Lexington, K y .,
opened July 1907.
Common stock, $15,0 0 0 , owned equally by Louisv. & N ashv., Ches. &
Ohio and Lexington & Eastern. There will be Issued$500,000 of the 4 %
cumulative (non-voting) preferred stock, secured by mort. and rentals paid
by above-named roads. Pres., J. Rogers Barr; SecandTreas., A . Mitchell Jr.
61
RAILWAY STOCKS AND BONDS
O ct ., 1907.]
RAILWAY STOCKS AND BONDS.
82
R A IL R O A D S .
For explanation of column headings, dec., see notes
on first page of tables.
Lehigh Valley— (Concluded)
Lehigh V a l Coal C o — Snow Shoe 1st M not guar GP.r
L V Coal Co 1st M $12,000 ,000 g s f not draw n .c*& r
do
interest reduced_____________________________
Delano L ’d 1st M gold guar s f $30,000 y e a r ly ..G P
Consol Real Estate 1st M $2,600,000 guar___ .U s m
Equip, trusts Series C g. due $200,000 y e a r ly ..P e P
do
gold Series D due $300,000 yearly............. ..
do
gold Series E due $82,000 y e a r l y . ________
do
gold Series F due $80,000 y e a r l y .................
do
gold Series G due $100,000 y e a r l y ...............
do
gold Series H due $90,000 y e a r ly ________
do
gold Ser. I due $400,000 y ’ly (V . 85, p .412)
do
gold due $100,000 semi-an . .
___
Lexington & Eastern— 1st M g ext In 1901 red 102Ce.c*
General mortgage g o l d ......................................
— N.r
Lexington Union Station— Pref stock (See t e x t )----------Lime Rock— Consolidated refunding mortgage g o l d ..
Litchfield & Madison first mortgage $ 1 ,000,000 g _ .E C
Little Falls & Dolgeville— 1st M $250,000 gold_______
Little Miami— Stock com guar 8 % 99 years P C & St L
Renewal mortgage___
______ _________ . _
_c
New mortgage ($3 ,0 0 0 ,0 0 0 )— V 7K p 184 2 4 1 ,1 0 8 0
Little Rock & Hot ap W est— 1st M g gu p & 1 en d.S St
Little Schuj’lkill Nav RR & Coal— Stock (rental guar)
Long Island— Second (now first) m ortgage_____ . . c *
Consolidated mortgage gold ($3,610,000 are 5 s ) ..C e
General mortgage gold____
_______ _______ . . Ce.c*
Long Isl R R M on ferry for $2,75 0 ,0 0 0 g o ld ..C e .c *
Stewart Line mortgage of 1932 for $500,000 gold.C e
Debenture ($1,500,000) gold not subject to call____
New York & Flushing first mortgage assumed.
Brooklyn & Montauk 1st M ($250,000 are 6s).C e .c*
Second M gold ass’d Bus Sta to Eastp & brs.C e.c*
Long Island City & Flushing 1st M assumed-------c*
Consolidated mortgage gold assumed_______ Ce c*
New York Bay Extension $200,000 1st M assumed
[V o l .
I N T E R E S T OR D I V I D E N D S .
M iles Date
of
of
Road. Bonds.
___
_
_
___
___
_
_
_
___
___
___
92
___
12
44
_
___
84
84
53
32
155
156
163
__
18
_
2
76
76
12
19
6
1884
1892
1892
1891
1906
1899
1899
1899
1902
1902
1905
1906
1907
1895
1895
__
__
1904
1903
1882
1901
1899
1878
1881
1888
1892
1892
1894
1880
1881
1888
1881
1887
1893
Size, or
Par
Amount
Value. Outstanding
j
When
Payable.
WTiere Payable, and by
Whom.
lxxxv
.
Bonds— Princi
pal, When D u # .
Stocks— Last
Dividend.
.Tan 1 1910
$500
$358,500
5
A
J Philadelphia
J
*
1,000 10,114,000
.1
.1 J.P .M org.& C o .N Y & P h l Jan 1 1933
5 g
i.Jan 1 1933
1,000
1,400,000
& J
do
do
u
4 g
Jan 1 1932
1,000
1,084,000
& J Philadelphia
j
5 g
Feb 1 1956
4
iF * A
1,000 In treasury
1,000
400,000
& D Phil Penn Co for I , &c To June 1, 190&
4M 6J
1,000
900,000
4]A giM & S Prov Life & Tr Co, Phila To Mar 1 1910
To Feb 1 190&
164,000;
K & A Philadelphia
1,000
4H
160,000
!M & N
do
iTo May 1 190S>
1,000
do
~
To Aug *1 1910
1.000
300.000
F ft A
T o Feb 1 1913
F *
A
1.000
540,000;
4 g
S
4 g
To Sept 1 19 1 6
1,000 NoneJ’y ’07,
M &
1,000
Mch '08-Sep ’ 11
2,000,000:
4 H g M & Si
1,000
850,000
& J J K Tod & Co, New York July 1 1911
J
5 g
Feb 1 1935
1.500,000 See text. F & A See text.
1,000 fee
300,000
4
100
July 1 1929
1,000
400,000
J &
J Portland Me.
4 g
600,000
1,000
M &
N 52 W m S t, N Y ; & Chic Nov 1 1934
5 g
J &
J Am er Exch Nat Bk N Y 1 9 3 3
100 &c
250.000
3 g
4,943,100
50
8 2-5 Q— M 10 Office, Fosdick Bldg, Cln Sept 10 '07 2
|Nov 2 1912
1,000
1,500,000
5
M &
N iBank of America, N Y
!F &
A
1,000
2,422,000
do
do
iFeb 1 1951
3H
1,000
1,140,000:
J &
J St Louis and Philadelphia1July 1 1939
4 g
50
2,487,850
J &
J Office, 410 W aln u t, Phila July 15 1907 ,2
5 g
!F &
A U S Mort & Tr Co, N Y Aug 1 1918
268,703
7
100 &c
do&Lon July
4,731.000
& 5 g j Q— J
do
1931
1,000
do
June
1,000
3,000,000
J &
D
1938
do
4 g
1,000
do
do
jMar
1922
1,494,000
S
4} 4 g M &
do
June
1,000
332.000
4 g
J &
D
do
1932
do&LonlJune
J &
D
1934
1,000 a l , 135,000
do
5 g
jMar
1920
1,000
125,000
6
M &
S
do
do
Mar
1,000,000, 5 & 6 g M &
do
do
1911
1 000
S
June
1938
600,000
J &
D
do
do
1,000
5 g
1911
jM ay
600,000
6
M &
N
do
1,000
do
|May
1937
1,000
650.000
M A N
do
do
5 g
1943
Jan
1,000
alOO.OOO
J &
J
5
do
do
LIM E ROCK R R .— Owns road In and around Rockland, M e ., 11 m .;
trackage, 1 m .; total, 12 m . Stock, $450 ,00 0; controlled by the RocklandRockport Lime Co. of Maine. V . 8 2 , p. 1380.
Year ending June 30 1906,
gross. 5113 .97 9; net, $60,147; other income, $3,679; charges, $20,558; div.
( 5 % ) , $22,500 ; b al., sur., $20,767 .
Office, Rockland.— (V . 82, p. 1380.)
L IT C H F IE L D & M AD ISO N R Y .— Owns Litchfield Jet. to Madison, 111.,
44 m .; trackage, 1 m .; total, 45 m . Stock, com m on, $500,000; pref., 4 %
n on-cum ., $500 ,00 0; par of shares, $100. Formerly controlled by Chic.
Peoria & St. Louis, but In 1904 control was sold to John R . W alsh and asso
ciates of Chicago. For year ending June 30 '06, gross, $205 ,00 9; net, $45,031; charges, $44,949; b a l., sur., $82.
Pres., James Duncan, A lton , 111.;
Sec. and Treas., D . M . Cameron.— (V . 7 9 , p. 2456.)
LIT TL E FA L L S & D O L G E V IL L E R R .— Little Falls, N . Y „ to Dolgeville, 10 miles. V . 7 5 . p. 48. Stock, $25 0 ,0 0 0 , of which the N . Y . Cent.
& Hudson River In July 1906 acquired a m ajority.
Bonds, see table.
For
year ending D ec. 31 1907, gross, $ 58,854 ; net, $23,022 ; charges, $ 9,975.
P res., W . H . Newman; Sec., D . W . Pardee.— (V . 83, p. 272.)
LITTLE K A N A W H A R R .— Parkersburg. W . V a ., to Palestine, 30 m.
Stock, $ 3 ,000,000 authorized: issued, $509 ,50 0.
In N ov. 1905 the Pitts
burgh & Lake Erie acquired the road. V . 81, p. 1436; V . 82, p. 628.)
LITTLE M IAM I R R.— (See M a p s Pennsylvania R R .) — Owns Cincinnati,
O ., to Springfield, O ., 84 m .; branch, X enia, O ., to D ayton, O .. 16 m .; D ay
ton, O ., to Ind. State line, 38 m .; leases, Columbus & Xenia R R ., Xenia, O .,
to Colum bus, O ., 55 m .; Cin. St. Con. R R ., 2 miles; total, 195 miles.
L E A S E .— On Dec. 1 1869 leased to Pittsburgh Cincinnati <fc St. Louis
(now Pittsburgh Cincinnati Chicago & St. Louis) for 99 years renewable for
ever. The Penn. R R . Co. is a party to the contract and guarantees its
faithful execution.
Rental is 8 % on $ 4 ,943,100 stock and Int. on debt.
The stockholders voted Jan. 29 1907 to modify lease and Increase stock
from $5,000,000 to $ 1 0,000 ,000 , the additional stock to be issued as a special
4 % betterment stock. V . 84, p. 51, 815.
Lessee’s report shows results to lessee; In 1900’ profit, $65,989; 1901, $67,151; In 1902, lo " , * 92,069; in 1903. loss. S241,593; In 1904, loss, $ 1 33 ,74 6;
in 1905, loss, $167,692; in 1906, loss, $185 ,30 3. Stock authorized, $ 1 0 ,0 0 0 ,0 00.
Beginning D ?c. ’ 99 1-5 % extra paid each Dec. and June from the
surplus Invested fund, making div. 8 2-5 % yearly.— (V . 84, p. 51, 271.)
LITTLE ROCK & HOT SP R IN G S W E STE R N RR — (See M a p M issouri
Pacific.)— Owns Hot Springs to Junction, A r k ., 53 miles, of which Benton
to Little R ock, 23 m ., is leased to Choc. Oklahoma & Gulf R R .
V . 68,
p. 85; V . 69, p. 283; V . 7 3 , p. 722. Stock, $ 1 ,1 4 0 ,0 0 0 , all owned b y St.
Louis Iron Mountain & Southern R y. (Missouri Pacific system ), which guar,
the bonds, principal and interest, by endorsement. V . 7 8 , p. 583.
D ivi
dend, 3 J 4 % , paid In 1905-06.
Year ending June 30 1906, gross, $235,092;
net, $63,736 ; fixed charges, $49,835 ; div. ( 3 H % ) , $39,900; b al., d e f., $25,999.
Pres., W . C. Fordyce.— (V . 78, p. 583.)
LITTLE S C H U Y L K IL L N A V IG A T IO N RR & C O A L .— Owns from Port
Clinton to Tam anend and Reevesdale, 32 miles. Re-leased on Dec. 1 1896
to Phlla. & Read. R y. for 999 years, and reiital reduced from 7 % on stock
to 5 % gold from Jan. 1 1897. Dividends: In 1898, 5 )4 % ; 1899, 5 \4 %;
1900. 5; 1901. 5 K ; 1902. 5 '4: 1903. 5 % : 1904. 5: 1905. 5V$: 1906. 5: 1907,
5M %■ Lessee pays taxes and organization expenses.— (V . 73, p. 554.)
LONG ISL A N D RR — Operates the steam surface roads of Long IslandLeases—
M iles.
Oions—
M iles.
Long Island City to G reen p ort.. 95 N . Y . & Rockaway Beach R y * . . 12
Long Island City to M ontauk___ 115 Jamaica & S o .S h ore(V .78, p . 102)
5
Sundry b ra n ch es_________________ 107 N . Y . B ’klyn & Man. B e a c h * ... 18
under the East River to & connection with Long Island R R .. and thus with
N . Y . N . H . & H . R R .; see V . 74, p. 830; V . 75, p. 1203; V . 84, p. 931. A s
to Improvements, see V . 80, p. 599, 997; V . 81, p. 31; V . 84, p. 1552.
L A T E S T E A R N I N G S .— For 6 months ending June 30:
6 M o s.
Gross.
Net.
Other Inc.
Charges.
B a l., D ef
$410,750
$133,700
$1,236,511
$692,06
19 0 7 ____ $4,467,099
19 0 6____ 4,1 7 3 ,6 1 3
575,097
130,540
1,132,212
426,57->
R E P O R T .— Report for calendar year 1906 was In V . 84, p. 865.
1906.
1905.
Inc. or D ec.
Gross earn in gs____________________ $ 9,59 5 ,5 9 6
$ 8 ,501,466 Inc. $ 1 ,094,129’
Operating expenses_______________ 7 ,647,955
6,785,611
Inc.
86 2 ,3 4 4
N et earnings....................... ____ .$ 1 ,9 4 7 ,6 4 1
Total n e t . ____ ___________ ____ .$ 2 ,3 5 4 ,1 4 8
Rentals of leased roads___ _____
$251,158
a Interest on bonds_______ _______ 1,772,465
41,442
Int. on mortages & ground rents.
Taxes _____________________ _______
260,563
M iscellaneous_____________ ...........
56,879
Balance
$1,715,855
$2,139,473
$250,050
1,550,357
29,977
241,635
44,926
Inc.
Inc.
Inc.
Inc.
Inc.
Inc.
Inc.
$231,786.
$ 214 ,67 4
$1,1 0 8
222,1081 1,465
18,928
11.95S
_______________________ _ def. $28,359 sur. $22,529
Dec.
$50,88&
a This Item does not Include all the Interest, a “ proper proportion" on
securities issued for Improvements extending through several years, from
which no additional revenue can be derived until completion, having beers
charged to cost of construction. See V. 84, p. 865.
Pres.. Ralph Peters: Treas., Henry Tatnal). Broad St Station. Phlla.—
V . 82, p. 864, 868; V . 84, p. 339, 745, 865, 931; V . 85, p. 4 0 , 160.
LO R AIN & A S H L A N D R R.— Under construction from Lorain, O . .
south through W ellington and Ashland to Black Fork River and thence to
the Ohio River, passing through the Hocking coal fields.
O f this. 25 miles,
to W ellington was to be completed In 1906 and 30 miles additional, via
Ashland to Mansfield, to be bulltilm m ediately. Controlled bp Joseph R a m
sey Jr. and associates. V . 82, p. 628, 805.
L O U IS IA N A & A R K A N S A S R Y .— Owns from H ope, A r k ., to T iog a,
L a ., 187.8 miles: extension from Packton to Jena, 29.86 miles: track.iee.
Tioga to Alexandria, L a ., 8.18 miles; Tioga to Pinevllle, L a ., 5 miles, givessecond entrance to Alexandria; total, 230.84 miles. Contract In force will*
Rock Island Co. for joint operation of Louisiana & Arkansas tracks betweeu
P ackton, L a ., and Pinevllle, L a ., 36 miles.
S T O C K .— Stock
(authorized, $7,0 0 0 ,0 0 0 : outstanding. $3,7 5 0 ,0 0 0 ;
shares par, $100*, of which $3,74 5 ,0 0 0 Is deposited with the Standard Trus*
Co. of New York.
Voting trustees 10 rears; W illiam Buchanan, Edward E .
Porter. BenJ. F . Y oaku m , Harvey E . Fisk and Charles L Pack.
D I V I D E N D .— 1}4 % Pai<l sem i-annually since March 1906.
B O N D S .— Tho unissued first 5s (total limited to $7,000,000) are reserved
for betterm ents, equipment and extensions, of which $ 1 , 0 0 0 ,0 0 0 reserved
for bridges across Black and Red rivers, and the balance limited to $ 2 0 ,0 0 0
per mile of completed railroad. The entire amount outstanding, but no
part, are subject to redemption at 110 and interest on any interest date.
Beginning with Sept. 1907 a sinking fund of $55,000 per annum, to b u y
bonds, if possible, at 110 and interest or under; otherwise to be Invested.
Bonds sopurchased are kept alive In the sinking funds.
E A R N I N G S .— 2 m os., 11907____________ Gross, $238 ,45 6; net, $ 9 3 ,7 8 0
July 1 to A ug. 31.
/1 9 0 6 ____________ Gross,
2 0 8,709 ; net,
6 9 ,616R E P O R T .— Report for year enuing June 30 1906 was given at length In
V . 83, p. 1032, 1046.
Year.
M iles.
Gross.
Net.
Oth. Inc. Ch’ges.
Dtvs.
Balance.
1906-07 . . 226 $ 1 ,216,837 $368,078 $32,365 *$174,959 $11 2,500I$112.984
1905-06 . . 187
1,057,526
371,344
20,981
153,666 X56.250 182,409-
Total Dec. 31 I 9 0 y _____________ 391
Total owned (V . 77, p . 2 0 9 8 .).3 1 7
Leases__
Operated electrically_____________ 45
Atlantic Avenue R R — __________10
Double track_______________________126
(•W hich see.)
North Shore Branch R R _________ 30
~ * 3 %.
X\ H % .
S T O C K .— $ 1 2 ,000 ,000 ; par, $50; of which Penn. R R . owns $6,7 9 7 ,9 0 0 .
Pres., WTm . Buchanan, Texarkana, A rk .— (V . 85, p. 464.)
D IV I D E N D S .—
\ ’82. '83 to ’90. ’91. ’92. '93. ’ 94. '95. ’ 96. None
LO U IS IA N A & NORTH W E S T R R.— Owns Ma
laM flJ'a. A rk ., to N atchlPercent.
J 1 4 yearly. 4 ^
5
5 4 \4 4
4 since.
toches. L a ., 114.7 miles; trackage, Magnolia to• ^ B p c il, 6.4 miles; total,
82 p.
- 49.
B O N D S .— The refunding 4s of 1903 ($45,000,000 authorized Issue) are se
121.1 miles.
Early In 1905 control was changed. T
V . 82,
cured by a Hen on the entire road, subject to the $22,5 9 2 ,0 0 0 outstanding old
Stock, $10,000 ,000 authorized, of which $ 2 ,300,000 outstanding; par*
$100. Car trusts Sept. 11 1907. $12,400 . Trustee of prior lien bonds, Peo
bonds, to retire which an equal am ount Is reserved; remainder, $22,4 0 8 .0 00, guar, as to prln. and Int. by the Penn. R R ., were sold, the proceeds to ple’s Trust C o., Brooklyn, N . Y .
O f the 1st 5s of 190 > ($10,000,000 au
be used for various Improvements and additions In connection with the thorized Issue), $150,000 Is reserved to retire the old bonds and $ 4 2 5 ,0 0 0
Pennsylvania tunnels to and through New York City, principally for addi
for Improvements, equipment, &c.
V . 82, p. 628. Pres, and Treas., GeoW . H unter, St. Louis; V .- P ., John J. N e l o n . Magnolia. A rk .; Sec., Johii
tional terminal facilities at Bay Ridge and Long Island City and for a dou
A . Richardson, Homer, L a .— (V . 73, p. 957; V . 82, p. 49, 628.)
ble-track connection with the New H aven road, for additional freight and
passenger terminals, tracks, equipm ent, and to retire old bonds. V . 7 8 , p.
L O U IS IA N A R A I L W A Y « N A V IG A T IO N C O.— Owns \ ew Orleans t o
5 83. 1549; V . 7 9 , p. 2796; V . 80. p. 1111; V . 81, p. 211; V . 82. p 868.
Shreveport, L a .,305.6 milew, completed Oct. 1906; branches from Colfax to
Ih April 1906 a 4 % equipment trust was arranged. V . 82, p. 864. The
W infield, 28 miles, and from Alexandria to Jena.
miles.
Pennsylvania Co. Dec. 31 1906 owned $ 2 ,600,000 equipment certificates
Successor on June 22 1803 of the Shre»erv>rt & Ren River Valley R y V .
(see V . 84, p. 928.)
77, p. 36. Stock authorized, $12 ,0 0 0 ,0 0 0 : outstanding. Apr. 1907, $-1,885,The unified mortgage Is limited to the am ount now outstanding.
Bonds
000; par. $10 0.
Bonds (ser table abovei are limited to $17,500 ,000 total
are subject to call at 110 In whole or In part on any Interest day. V . 68,
Issue and $ '3 ,0 0 0 per mile- $ 30 0 ,0 0 0 has also boeD Issued for a bridge over
p. 618.
M tgss. on real estate. $1,8 6 1 ,0 8 7 .
V . 76, p. 266; V . 85, p. 160.
the Red River at Alexandria; $ 4 ,0 0 0 ,0 0 0 is roierved for New Orleans term!
P r e n .W m F d e tG U A R A N T I E S — In addition to guaranteed b^rnls in table above, guar S nals. See official statem ent. V 77, p 30: V . 7 7 , p. 7 69.
antees 5 % on $050 ,00 0 New York Brooklyn <% Manhattan Beach pref. stock
b o m , Hibernia B ld g., New Orleans: Sec. and A u d ., H . B . H elm ; T rea s.►
as part rental: also 4 H % on $50,000 P. P. & So. Br. stock and 4}4 % on I Clarence Ellerbe, Shreveport, L a .— (V . 83, p. 1098; V . 84, p. 390, 450.)
$82,500 of the New York & Coney island stork.
L O U IS IA N A SO U T H eR N H V — See this Section tor July 1005.
The shareholders voted Mch. 14 1906 to guarantee, principal and Interest,
L O U IS IA N A W ESTH R N R R — l-<’W M a p of Southern P aci'ic.)— Own*
an authorized Issue of $10,000 .000 4
% 40-year collat. trust bonds of the
Long Island Consolidated Electrical Companies, a holding com pany, all of from [.a'ayette. La , to Sablre Hlvrr. 105 miles; Midland to Eunice, 24 m
Mtd'attd to Abbeville. 35 mi ; Mallard Jet. to Lakq Arthur, 34 m : total. 198
whose stock Is ow ned. for the trolley lines owned and controlled. The pres
miles. Opertred indep ndentlv. but In connection with ‘southern Pacific,
ent Issue will provide the cost of acquired and constructed lines, ab'»ut $ 2 ,1 40,0 0 0 , and about $500,000 was expected to he Issued for newlines and e x which owns all the $ 3 , 3 6 0 ,0 0 0 stock. Dividend on stock In 1905-06, 1 0 % .
In year 1905-06, gross, $2,246 ,8 0 4 ; net, Including other Income, $ 1 ,1 7 9 ,5 8 8 ;
tensions during 1906. See V . 82, p. 100, 864; V . 84, p. 865.
IM P O R T A N T C O N N E C T IO N S .— Construction Is in proeress on the surplus over charges, $ 9 7 1 ,7 6 1 .— (V . 74, p. 268.)
L O U IS V IL L E & AT LA N T IC R R .— Versailles, K y
to Beattvviile J<-r „
city’s extension of Its Rapid Transit tunnel from Manhattan under the East
101 miles of which M'ller’s Creek to Beatty'MUe.28 m o p ^ e d In I ) t t !»•»? River and thence to Fiatbush Ave. Station. Brooklyn.
V . 75, p. 30, 185.
Year ending June 30 1906, gross, $321,015
The Penn. R R . Is also building an underground (tunnel) electric rail Stock. $1,000 ,0 0 0 : par, $100.
net, $64,608; total deductions, $79,078 ; balance., def.. $14,470 .
Pres.
road for passenger service from Jersey C ity, under the Hudson River to
a central passenger station at 33d St. and 7th to 10th avenues, and thence J. P. Am sden, dec’ d; Sec., E. M. W allace, Versailles, K y .— (V . 71. p. 236.>
83
RAILWAY STOCKS AND BONDS
O c t ., 1907.]
I N T E R E S T OR D I V I D E N D S .
R A IL R O A D S .
F o r explanation of column headings, & c., see notes
on first page of tables.
M iles Date
of
of
Road. Bonds.
Size, or
Par
Amount
Value. Outstanding
Long Island— (Concluded)
a$315,000
21 1895
$1,000
M ontauk Extension $600,000 first m ortgage ass’d
1,000
316 1899
5,660,000
U nif mortgage gold call at 1 10____________ Usm.c&r
316 1903
500 &c 22,408,000
Refunding M $45,000 ,000 gold guar p & l_E q.c*& r
Leased and Controlled Lines, Principal or Interest Ouara nteed.
1,000 a l , 262,000
30 1892
L I R R No Sh Br cons M $ 1 ,425,000 gu p & i.C e.c*
19 1885
1,000 a l , 601,000
N Y B & Man B 1st cons M $ 1 ,726,000 gold gu ar.C e
__
1,000
1887
a 88 3,000
N Y & Rock Beach 1st M $984,000 guar p & i .. C e
10 ’86 - ’91
1,000
436,000
P P & C I 1st and 2d ($96,000 seconds) guar p & 1
1906
See text.
Long Isl Electrical collat tr M $ 1 0 ,0 0 0 ,0 0 0 ___ Usm
100
3,750.000
Louisiana & Arkansas— Stock $7,000,000 authorized
1,000
3,598.000
223 1902
First mortgage $ 7 ,000,000 gold (text)________ S.c* &r
1,000
35 1895
100,000
Louisiana & North W est RR— Prior lien, gold _______ __
1,000
1.950,000
115 1905
First mortgage $10,000 ,000 gold ___________ _M Stc*
198 1903
1,000
4 ,865,000
Louisiana Ry & Nav— First M gold (see t e x t ) -.F .c & r
45 1897
500
250 000
Louisiana Southern— 1st M g red at 105 after ’ 02_Ce.c
1,000
106 1881
2,240,000
Louisiana Western— First mortgage gold_______ Ce.c*
1,000
101 1901
1,000,000
Louisville & Atlantic— First M gold $ 1 ,0 0 0 ,0 0 0 ____ K
100
1,500,000
Louisville Bridge Co— Stock__
__- ______ ___________
500
2 500.000
182 1896
Louisville H & St Louis— 1st M $2,500,000 g o ld -.M o
___ 1895
1,000
4,500,000
Louisville & Jeff Bridge— $5,000,000 g gu p&l en d ._c *
100 r0 000,000
Louisville & Nashville— Stock $ 6 0 ,0 0 0 ,0 0 0 ____________
15 5 1879
1,000
1 525,000
E H & N 1st M Hend to Nash g drawn at 1 1 0 .-C e.c*
1.000 c 7 ,058,000
803 1880
Louisville & Nashv gen M gold drawn at 1 1 0 ..C e .c*
1,000
3,258.000
176 1881
L C & Lex Gen M g (V 63. p 1 0 1 0 )____________ Mo c*
1,000 d l, 874,000
192 1880
L & N bonds & S N Ala R R 2d M as coll g o ld . Un.c*
1,000
45 1880
e355,000
Pensacola Div 1st M gold (drawn at 105)____ F.c*
1,000
141 1880
5,000.000
New Orl & Mob D lv 1st M N O to Mobile gold. F.c*
141 1880
1,000
1,000,000
Second mortgage g o l d -------------------------------------c*
1,000
3,500 000
208 1881
Southeastern & St Louis Div first mortgage g o ld ..c *
1,000
2,938,000
208 1881
Second M gold East St Louis to Evansville & br c*
192 1887
1,000 fl ,749,000
First M (50-year 5s) $15,000 per mile gold__Us.c*
1888
1,000 * 4 ,7 0 5 .0 0 0
First M collateral trust ($7,000,000) gold-------F.c*
1890 1,000 &c 36,648.000
Unified mortgage for $ 7 5 ,000 ,000 g o ld .-C e .c * & r Text.
1,000 23.000,000
1903
Collateral trust M call at par after 1908 g o l d .. Us.c*
1,000
617,000
1891
St Louis pfoperty 1st M gold $ 6 5 0 ,0 0 0 _______ SSt c
1,000
4 ,000.000
179 1895
Mobile & Montgomery joint mortgage gold— Ce c
a In hands of public; total issued shown in left-hand colum n; bala nee unde r unified mo
_
_
_
L O U IS V IL L E B R ID O E CO.— Owns bridge 5 .294 feet long over O h lo R lv .
at Louisville. K y .. and about 2 miles track additional In Louisville.
Used
by s e v e r a l railroads— P. C. C. & S t.L . R y .. Loulsv. & N ashv., &c. Surplus
earnings are paid back to roads using bridge.
ST O C K Is 51,5 0 0 ,0 0 0 ; Penn. Co. owned, Jan. 1 1907. $ 9 00 ,00 0.
Dlvs.
1 8 9 6 , 6 H % : 1897. 7 % : In 1898, 6 % : In 1899. 3 % : 1900, 8 % : 1901, « %;
1902, 5 % ; 1903, 1 3 % ; 1904, 4 % ; 1905, 6 % ; 1906, 7 % .
In Dec. 1903 the
-ult of the minority stockholders was settled, $150,000 of the $248,376 re
covered being distributed as a 1 0 % dlv. See V . 78, p. 102; V . 79, p. 2747.
For year ending Dec. 31 1906, gross, $379 ,10 9; net, $189 ,00 7; dividends
(7 % ) , $105,000; bal., sur., $ 8 4 ,0 0 7 .— (V . 7 9 , p. 2747.)
L O lT S V I L L E H EN DER SO N & ST. LO U IS R V .— R O A D .— Louisville
to Henderson, K y ., 144 miles (incl. 6 m . trackage): Irvington to Fordsville,
K y ., 44 miles; L. & N . trackage, Henderson, K y ., to Evansville, In d ., 12
m .; total, 200 m . A reorganization June 1 1896 (per plan in V . 62, p. 138).
Th e Louisville & Nashville in 1904-05 acquired $776 081 preferred and
$1 ,6 3 1 ,3 8 5 common stock.
V . 81, p. 1100. Stock, com m on, $ 2 ,0 0 0 ,0 0 0 ,
preferred, 5 % non-cum ulative, $ 2 ,0 0 0 ,0 0 0 . V . 62, p. 138.
R E P O R T for year ending June 30 1906 In V . 83, p. 1169, showing gross,
$95 1 ,8 5 9 ; net, $249,926; improvements, $42,563 ; interest and taxes, $ 150 ,000; surplus, $57,363 .
(V . 83, p. 155, 626, 1169; V . 85, p. 722.)
L O U IS V IL L E & JE F F E R SO N V IL L E B R ID G E CO.— One half mile long
and the approaches one m 'le- opened Jan. 1 1896. Also owns about 40 acres
of land in Louisville and 100 acres In Jeffersonville. Stock, $1,4 2 5 ,0 0 0 ;
m tge. Is for $ 5 ,000,000 (trustee, U . S. Trust Co. of N . Y . and Union Trust
Co. of Indlanapol's); bonds for
$500,000 are reserved for future con
struction, & c.; the bonds are guaranteed by the Ches. & Ohio and Cleve. C.
C. & S t. L. roads. In whose Interests the entire stock Is owned. See V . 61.
p . 559.
O f the $4,50 0 ,0 0 0 Issued June 30 1907, $ 5 ,000,000 were in the
treasury, $500 ,00 0 being deposited as security for loans.— (V . 62, p. 84.)
L O U IS V IL L E & N A S H V IL L E R R .— (See M a p .)— R O A D .— Operates
m ainline from Cincinnati. O ., to New Orleans, L a ., 921 miles: with branches
to S t. Louis, M o ., M emphis, T e n n ., & c., 3,421 miles, making total system
proper, June 30 1907, 4,342 miles. The system Includes:
Reported separately—
M iles.
Lines owned absolutely or through
capital stock—
M iles. ♦Nashville C hatt. & St. Louis____ 925
Louisville to N ashville____________ 181 •Georgia Railroad system ________ 571
Sundry other lines_______________ 3,177 • Louis. Hend. & St. L o 'ils_______ 182
•Chtc. Ind. & Louisville__________600
Lines leased, & c.—
•South. & N orth. A la . R R _______ 193 Owned but leased to other cos___ 21
O ther lines__________________________577! D o. Paducah & M em . D lv _________248
Operated for other companies____ 2141
*See this com pany.
-------Total system proper__________4,342|
Total of all July 1 1907______ 6 .8 9 0
O R G A N I Z A T I O N .— Line opened between Louisville and Nashville N o v .
1 859 .
For securities owned and in sinking fund see V . 8 5 , p. 9 35.
Control by Atlantic Coast Line.— Late In 1902 the Atlantic Coast Line R R .
acquired a m ajority of the stock (viz., $30,600 ,000 of the $ 6 0 ,000 ,000 out
standin g), but the roads are operated Independently. V . 74, p. 830, 1038;
V , 7 5 . p . 7 33, 1399.
D I V I - ( %)1 ’ 88
’ 89 ’ 9 0 ’9 1 ’9 2 ’9 3 ’ 9 4 -’ 9 8 ’9 9 ’0 0 ’0 1 -’ 0 4 ’05 ’06 1907
D E N D S .— / 5 stk 5 s t k 6 5 4 4 N o n e 3 > * 4 5 y ’rly. 6 6
6
B O N D S .— The Evansv. Hender. &. Nashv. bonds are drawn at 110 b y lot
annually In O ct. for paym ent D ec. 1 in am ounts increasing each five years
until $150,000 per year is finally reached; In 1907, $ 7 5,000 .
The Pensacola Division bonds are subject to a drawing sinking fund,
$5,000 till 1900, in cl., then $10,0 0 0 , and so increasing. O f tne bonds, $175 ,0 00 were drawn for Dayment on Sept. 1 1905 , b y paym ents to sinking
fund due from Sept. 1889 to 1905, Incl.; $20,000 in 1907. V . 81, p. 265, 726.
The general mortgage bonds of 1880 are called at 110 in increasing am ounts
each year; $405,000 was paid June 1 1907. V . 84, p. 749.
In June 1890 the " unified” mortgage (trustee. Central Trust Co.) for $75,0 0 0 ,0 0 0 was authorized, $41,917 ,660 bonds being reserved to retire all prior
liens (none of the prior liens can be extended), the balance for Improve
m ents, extensions (at the rate of $32,000 per mile, including equipm ent),
and for other purposes. The mortgage covers (besides about 2,200 miles of
road and equipm ent), $10,093 ,300 stock of companies controlled and $3,150,000 bonds free from any lien. See abstract of mortgage in V . 51, p.
6 1 3 ; also V . 72, p. 1034, 1188; V . 7 7 , p. 968.
In June 1907 com pany re
ported $60,1 1 9 ,0 0 0 outstanding, of which $ 4 ,855,000 in treasury, $ 1 8 ,2 0 0 ,000 deposited to secure the coll. trust 4s of 1903 and $416,000 In sinking
funds or deposited for other Issues; additional bonds were Issuable to ret're
the $892,000 Lou. Cin. & L ex. 2d 7s, which matured Oct. 1 1907.
See
V . 81, p. 1848.
M obile <fc Montgomery— Louisville & Nashville joint mortgage Is for $ 5 ,0 0 0 ,0 0 0 ; $ 1 ,000,000 reserved for Improvements. V . 61, p. 196, 750.
Kentucky Central m tge. abstract V . 45, p. 372. South & North Alabam a
im provement 5s, due A ug. 1 1936, $ 1 ,920,000 authorized, are owned.
The collateral trust 4s of 1903 ($30,000,000 authorized Issue) are secured by
deposit of $24,000 ,000 L . & N . unified 4s, $ 4 ,779,000 L . & N . Paducah &
Memphis division bonds, the latter covering the road from Paducah, K y .,
to Mem phis, T e n n ., 254 miles; $ 2 ,500,000 L . & N . Terminal Co. 4s (V . 75,
p . 1354 ), $ 4 ,045,000 South & North Alabam a 5s and $510,000 Pensacola &
A tlan tic 6s; total, $36,640 ,000 bonds. A proportionate am ount of the col
lateral m ay be withdrawn at any time on delivery to the trustee o ' r o t less
than $ 1 ,000.000 of the bonds. V . 7 6 , p. 542; V . 7 8 . p. 287. 1446.
In 1902 the Louisville & Nashville and the Southern R y . acqulu d $ 0 ,7 9 6 ,9 00 of the $10,500 ,000 Chic. Indianapolis & Loulsv. com . and $ 3 ,873,400 of
the $ 5 ,000,000 oref. stock In exchange for their joint 50-year 4 % bonds. V .
7 4 , p . 1138; V . 76, p. 593. O f the $ 1 5 ,500 ,000 joint bonds secured by deposit
o f this stock, $1,563,000 are reserved to acquire the remaining "M o n o n ’ ’
6tock and $ 2 ,110,000 for Improvements and enlargements of the “ M on o n "
at not over $500,000 yearly.
The Atlan ta Knoxville & Cincinnati division 4s ($50,000,000 authorized)
cover 618 miles, including 20 miles of trackage.
O f the bonds, an equal
amount will be reserved to retire at m aturity underlying bonds, v iz ., Ken
tu ck y Central 4s, $ 6 ,742,000; A tlanta Knoxville & Northern bonds, $1,-
[V o l .
RAILWAY STOCKS AND BONDS.
84
Rate
%
5
4 g
4 S
When
Payable.
J
M
M
Where Payable, and by
Whom.
lxxxv.
Bonds— P rinci
pal, When D u s.
Stocks— Last
Dividend.
J U S Mort & Trust C o,N Y Jan
do
do
Mar
S
S A m Exch N at B an k .N Y Mar
&
&
&
1 1945
1 1949
1 1949
U S Mort & Trust C o ,N Y Oct 1 1932
Q— J
A & O
do
do
Oct 1 1935
M & s
do
do
Sept 1 1927
1926-1931
Semi-an
do
do
................................ .................. In 40 years
4H
Sept 15 1907 1 H
See text. See text. Checks mailed.
M & s Fisk & Robinson, N "i
Sept 1 1927
5 g
J
&
J Boody, McL & Co, N Y Jan 1 1945
5 g
A & 0 Treas office, St. Louis
April 1 1935
5 g
& J Farmers’ Trust Co, N Y July 1 1953
4H g J
M & s R Wlnthrop & Co, N Y Mar 1 1950
5 g
& J S P Co, 120 B ’w ay, N Y July 1 1921
J
6 g
M & N Knickerbocker Tr C o ,N Y May 1 1941
5 g
Louisville, K y .
See text.
See text.
& J Bk of Am er, N Y ; & Louis July 1946
J
5 g
M & s J P Morgan & Co, N Y Mar 1 1945
4 g
6 In Ig 0 7 :F
& A 71 Broadw ay, New York Aug 12 1907 3 %
& D
J
do
do
Cg
Dec 1 1919
6 *
& D
J
do
do
June 1 1930
do
do
Nov 1 1931
4H S M & N
A & O
do
do
April 1 1910
6 g
M & S
do
do
Mar 1 1920
6 g
& J
J
ao
do
Jan 1 1930
6 S
& J
Jan 1 1930
J
do
do
6 S
M & s
do
do
Mar 1 1921
6 g
M & s
do
do
Mar 1 1980
3 g
M & N
M ay 1 1937
do
do
5 g
M & N
N ov 1 1931
do
do
5 g
& J
July 1 1940
J
do
do
4 g
A & O
April 1 1923
do
do
4 g
JV1 & s St Louis Tr Co, St LouIs'Mar 1 1916
5 g
4 H e M & s 71 Broadway. New YorkjSept 1 1945
rtgage.
b. c, d C| f, g, see foot-note on nex:t page.
5 g
5 g
5 S
,
500,000 .
The line from Livingston to Jelllco, 61 miles, is subject to prior
lien of unified m tge. V . 80, p. 872; V . 84, p. 1428.
In July 1907 $ 19,160 ,000 of these divisional bonds had been issued, of which $10 000,000 sold;
balance held in treasury.
F IN A N C E S .— Since July 1 1894 the ‘‘ construction account” has been
closed. Am ount of permanent lmDrovements charged in operating ex
penses in 1906-07 was $2,9 6 5 ,5 2 9 ; in 1905-06, $ 2 ,5 8 6 ,6 3 0 .
In Feb. 1904
dividends on Nashville Chatt. & St. Louis stock ($ 7,177,600 owned) were
resumed, in Feb. 1905 Increased to 5 % and Feb. 1907 to 6 % .
In M ch. 1907 $ 6 ,500,000 5 % 3-year gold notes were sold. V . 84, p. 508.
E A R N I N G S .— 2 mos
July 1 to A u g. 31.
U 9 0 7 ............. Gross, $ 8 ,5 5 2 ,4 9 0 ; net, $2,39 0 ,9 6 7
J19 0 6 -----------Gross,
7 ,6 7 0 ,8 4 7 ; net,
2,290,151
R E P O R T .— Report for 1906-07 in V . 8 5 , p. 8 56, 929; see also p. 894.
Year ending June 30—
1907.
1906.
1905.
Average m ile age_______________________
4 ,3 0 6
4,131
3,826
Freight earn ings_______________________$ 3 5,23> ,787 $31,536 ,207 $27,732 ,625
Passengers ............. ..................................... 1 0 ,417.470
8,9 8 5 ,2 1 5
8 ,619,650
Mail, express, & c .......................... ............ 2,6 1 0 ,6 8 8
2,4 8 7 ,5 7 4
2,1 6 4 ,7 9 6
Gross earnings............................. ........... $ 4 8 ,r e s ,945 $43,008 ,996 $38,517,071
3 0 ,933,464
26,490,021
Operating expenses____________________ 35,78 1 ,3 0 2
Net earnings ....................................... ......... $ 1 2 ,482 ,643 $12,075 ,532 $12,027 ,050
N et, Incl. Investments, & c____________ 1 4 ,044,398
13,642,308
13,654,541
1,208,611
1,145,514
985,365
T a x e s ........ .......................................................
Interest and rent_______________________
6,0 5 2 ,6 5 9
5 ,719,995
5 ,476,103
Advances to S. & N . A . , &c....................
91,522
191,573
173,042
Sinking fund p a y m e n t s _______________
241,084
241,850
192,990
Dividends .................................................- (6)3,600,000 (6)3 ,6 0 0 ,0 0 0 (6)3.600,000
Surplus over div id e n d s_______________
$ 2 ,850,522
$ 2 ,748,374
$ 3 ,227,040
O F F IC E R S .— Chairman, Henry W aiters, N . Y . , Pres., M . H . Sm ith,
Louisville; 1st V .- P ., W . L . Mapother; 2d V .- P ., A . W . Morrlss, 71 B ’w ay,
N . Y . — (V . 85, p. 346, 405, 464, 601, 856, 915, 929.)
L Y K E N S V A L L E Y R R . & C OAL CO.— Owns from Mlllersburg. P a ., to
W llliam stow n, P a ., 20 miles. Lease to Northern Central Is terminable on
60 days’ notice. R ental, $35,000 per annum .— (V . 6 4 , p. 330.)
MACON & B IR M IN G H A M R Y .— Owns Sofkee Jet. to L a Grange, Ga.
97 miles; trackage Sofkee to M acon, G a ., 8 m . Since Feb. 1 1904 operated
by Ga. South. & Fla. officials, although IndeDendently. V . 7 8 , p. 584.
In year 1906-07, gross, $168 ,46 9; op. def., $15,662; other inc., $977; int
taxes and rentals, $40,438 ; bal., d e f., $55,123.
MACON D U B L IN & S A V A N N A H R R .— Owns road from M acon to VIdalla, G a ., 92 miles.
Extension reported to be proposed from Macon to A t
lanta, 80 miles. Stock. $ 3 ,200,000 au th .; outstanding, $ 2 ,040,000 (par
$ 100 ), acquired in Jan. 1907 by the Seaboard Air Line R y ., which guaran
tees the bonds, principal and Interest. Of the bonds, $600 ,00 0 are reserved
for improvements and betterm ents. V . 84, p. 102, 4 50. V . 84, p. 102.
For year ending June 30 1907, gross, $298 ,01 0; net, $ 31,655 ; other Income,
$3,400; int. on bonds, $ 31,000 ; bal., sur., $ 4,054.
Pres., W . A . Garrett.
Office, Macon, G a .— (V . 83, p. 1347; V . 84, p. 51, 102, 450.)
M A IN E C E N T R A L R R .— Line of road, ortland to VanceDoro, M e ., via
A u gusta. 251 miles; branches, Cumberland Jet. to Skowhegan, via Lewiston,
91 m .; B ath to Lewiston and Farm ington, 76 m .; Belfast, Foxcroft, Bucksport and M t. Desert, Including ferry (7.7 m .) , 132 m .; Portland & Ogdensb’g
R y ., Portland, M e .,to Lunenberg,109 m .; small branches,11 m .; Upper uoos
and Hereford railways, Quebec J e t., N . H ., to Lime R idge, Quebec, 108 m .;
Portland & Rum ford Falls system , 104 m .; Bath to Rockland (Including
steam ferry, 6-10 m .). 49 m .; total June 30 1907, 931 miles, of which 396
owned, 491 operated under 999-year leases and practically owned. 33 m .
under 50-year leases and 8 m . ferry lines.
In Jan. 1904 the entire stock of the W ashington County R y ., 1 3 7 miles,
was purchased. Its 3 H % bonds (see table above) being guar., prln. and In t.,
by end.; but road Is oper. separately. V . 78. p . 103, 8 20, 989; V . 7 9 , p , 2640 .
In Apr. 1907 control of the Somerset R y ., Oakland to Birch P t ., Me ,
and branch, total, 96 m ., was acquired. V . 84, p. 804, 1183. Stockhold
ers voted Apr. 26 to lease the Portland & Rum ford Falls R R . (which see),
Oquossuc to Rum ford J et., with branch, total, 100 miles, for 9 9 9 ,years.
V . 84, p. 8 6 8 , 931.
S T O C K .— Stock for $ 2 ,516,000 owned b y Boston & Maine. V . 7 2 , p. 9 88.
D I V I D E N D S .— 1884 to July 1903, 6 % yearly; O ct. 1903 to 1907 7 % ;
O ct. 1907, 2 %
B O N D S .— There are also $81,000 Maine Shore Line 6 s assumed, due 1923;
also $95,500 Belfast & Moosehead Lake m tge. bonds, due 1920, not guar
anteed, interest and sinking fund paid out of rental; A n d . & K en. stock
bonds, $ 1 1 , 0 0 0 . exchangeable for M . C . stock; Maine Central interest scrip
exchangeable for consol, bonds, $ 8 ,1 9 2 . Jointly with B . & M. guarantees
$300,000 Portland U nion Station bonds.
A N N U A L R E P O R T .— Report for 1906-07 was In V . 85, p. 918.
Year end. June 30—
1907.
1906.
1905.
1904.
Gross earn ings-..................* 8 >29 9 '2 ? 2
S7,6o5,655
$ 7 ,0 9 9 ,2 1 8 $ 6 ,7 7 3 ,5 6 0
N et earnings____________ a 2 ,2 26,383
1,349,749
1 ,962,617
1,432,017
Other I n c o m e ..._______
244,639
237,424
237,049
218,062
N et Income....................
In te r e s t__________________
Rents
Dividends ( 7 % ) ................
Sinking fun d--------------Ap p. Bangor T e rm in a l-Charged o ff--------------------Additions, & c----------------B al., surplus............. ..
605,853
348,369
13,440
$1,587,173
$617,960
551,186
348,369
13,440
$ 2 ,199,666
$631,860
545,876
348,365
144,694
300,000
5 0,000
$1,65 0 ,0 7 9
$ 643 ,11 0
5 45,876
348,348
29,440
$56,218
$178,871
$83,305
724,306
$161,094
G o t,, 1907.
RAILWAY STOCKS AND BONDS.
85
[V o l .
RAILWAY STOCKS AND BONDS.
86
IN T E R E S T OR D IV ID E N D S .
R A IL R O A D S .
F o r explanation of column headings, & c ., see notes
on first page of tables.
i M iles I Date
of
of
I Road. Bonds.
Size, or j
Par
Amount
Value. Outstanding
Louisville & Nashville— (Concluded)
160 1881
$ i ,o o o : $11,523 000
Pen & A t first mortgage gold drawn assumed____ c * 1
10 1881
1,000
1.328.000
Henderson Bridge Co— 1st M g drawn at 105_Ce.c*
105 1887
1,000: k l , 996,000
N ashv Flor & Sheff 1st M g assumed In 1 9 0 0 --Ce.c,
192 1880
Sou & Nor Alabam a 2d M gold sink fd $2,000,000
1,000 Own L & N
1,000 m 3,247,000
192 1886
Consol mortgage (for $10,000,000) gold gu ar.C e.c*
1895
Newp & Cin Br 1st M g s f ass’d gu by Penn Co___ F
1,000:
1.400.000
L & N -S o joint M $ 7 ,750,000 red 1907____ S.c*& r
1902 1.000 &c n 5.882.500
247 1887
1,000 J6.698.000
Kentucky Central 1st M ($7,000,000) g o l d .. Mp.c*
228 1896
Atlan ta Knoxville & Northern 1st M gold_______ Ce;
1,000
999.000
500.000
Consol m ortgage gold $10,000 Der m ile_______ Us
1,000
228 1902
722 1905 1.000 &c 10,000,000
L & N — A tl Knoxv & C D lv M $50,000 ,000 U sc'& rl
N otes $ 6 ,500,000 gold____________________________ c&r
1907 |1,000 &c
6 .500.000
Louisville New Albany & Chicago— See Chicago Indl anap o 11s & L ouisvllle
Lykeirs Valley— Stock.
Rental pays 5 % ____________
20
600.000
19
97 1896
1 000
500.000
Macon & Birmingham— 1st M $500 ,00 0 gold _OB.c
1,000
Macon Dublin & Sav—-1st M $ 1 ,840,000 g gu p&l_ N.c*
1907
1 .240.000
100
4 .988.000
Maine Central— Stock and scrip ($ 1 2 ,0 0 0 .0 0 0 )_______
4 .193.500
First consolidated m ort-\($269,500 are 5 s ) ____ c&r
3 0 4 /1 8 7 2
100 &c
\ 1872
100 &C
4 .790.500
gage, $ 9 ,0 0 0 ,0 0 0 ____ J ($3,265,500 are 4 s )___ c&r
1,000
669.000
411 1883
Collateral trust bonds for Mt Desert B ra n c h --A B .c
1,000
450.000
Improvement bonds “ A ” & “ B ” not mortgage s f _ .
___ i’8 6 - ’87
Maine Central Eu & No A m refunding mortgage gold
56 1893
1,000
1,000,000
48 1890
1,000
1.300.000
First M Penobscot Shore Line R R Co assumed____
48 1891
1.000
400.000
K & L second mortgage (for $400,000) assu m .B B
120
100
2,494 100
European & Nor Am er stock 5 % rental 999 y e a r s .109
100
Portland & Ogdensburg stock (2 % rental 999 years)
4 ,392,538
1,000
2 .119.000
109 1888
Cons M ($800,000 are 3 3^s) guar p & 1 e n d -.B B .c
1,000
300.000
Portland Union Station series “ A ” & " B ” (text) s f
’ 8 7 - ’89
100
Dexter & Piscataquis stock 5 % rental 999 years____
~17
122.000
1,000
175.000
First M Dexter to Dover etc guar by end____ BB
17 1889
100
53
800.000
Hereford R y stock (rental 999 years)_______________
1,000
First mortgage guaranteed p & 1 (endorsed)____
53
800,000
55
100
350.000
Upper Coos R R stock 6 % rental 999 years__________
22 1890
1,000
350.000
First mortgage guaranteed p & 1 (endorsed)____
1,000
693.000
Extension M $21,000 d m guaranteed p & 1 (end)
33i 1890
Additional
b Also $ 2 2 ,458 ,000 In treasury or pledged for other Issues; etc., See text.
$29,000 d $86,000 e $30,000 f $15,000 £ $424,000
i $7 41,000 I J $44,0 00 k $100
When
Payable.
Rate
%
6
6
5
6
5
e
g
g
g
g
4
4
5
4
4
5
g
g
g
g
g
g
4^4
F
M
F
A
F
eJ
5 In 1907
5 g
5 g
See text
5 & 7
4 & 43*
5
434
4 g
4
5
5
2
334 & 5
4
5
4
4
4
6
4
4«
amounts
.000 m $
&
&
&
&
&
&
P
&
&
&
&
&
Bonds— Prlnci
pal. When D u e
Stocks— Last
Dividend.
A 71 Broadway, New York Aug
Sept
S
do
do
A ug
A
do
do
April
O
do
do
Aug
A
do
do
July
J
do
do
J P Morgan & Co. N Y July
J 71 Broadway, New York July
D|
do
do
Dec
S
do
do
Mar
N
do
do
May
S '________ ______________ ______ Mch
Q— J
& J
& J
Q— J
A & O
&
&
&
&
&
&
&
Q— F 28
M & N
J
& J
J
& J
J
& J
M & N
M & N
M & N
M & N
M & N
were ow
4 ,753.00
J
J
Where Payable, and by
Whom.
lxxxv.
1
1
1
1
1921
1931
1937
1910
1936
1945
1952
1987
1946
2002
1955
1910
Office, 13 W illiam S t .N Y iOct 1 ’07 1 X %
Old Colony Trust. Boston'July 1 1946
New York Trust Co, N Y;Jan 1 1947
Office, Portland. Me.
Oct 1 '07 2 %
1Second National B a n k ,/ April 1 1912
/ Boston; & Portland ( April 1 1912
A m L & T r, Boston
June 1 1923
2d N at B k, Bost: i Port July 1916 -19 17
Boston and Portland
Jan 1 1933
Second N at B ank, Bost Aug 1 1920
do
do
IFeb 1 1921
Treasurer’s Office, B ang’rjOct 1 5 '0 7 2 3*
Maine Cent Off, PortlandiAug 31 '07 H %
2d N at B k , Bost; & P ort.N ov 1 1908
Portland, Me; & Boston'June 27-Jan 29
Office, D over, Me. _
July ’07 2 3* %
2d N at B k, Bost: & Port July 1 1929
Maine Cent O ff, Portland Nov 1907 2 %
N ov 1 1930
2d N at Bank, Boston
N ov 1907 3 %
Office, Portland, Me
2d N at B k , Bost; & Port M ay 1 1930
M ay 1 1930
Office, Portland, Me.
ned by the Co. on July 1 1907, viz.:
0
n $31,000 . H Coupon j &J; leg. Q J.
M ASON C IT Y & FT. DODGE R R .— (See M a p Chicago Great Western.) —
Owns road from Oelwein, Ia ., to Council Bluffs. 260 miles; Hayfield, M inn.,
to Clarion, I a ., 100 m .; branches to Lehigh and Coalville, I a ., 18 m .; track
age, Council Bluffs to South O m aha, 7 m .; total, 385 m . The Chicago Great
W estern owns the entire outstanding com . stock ($19,205,400 of the au
thorized $20,000,000) and the non-cum . 4 % pref. stock ($13,635,752 of the
$14,000 ,000 authorized) and operates the road as part of Its main line to
O m aha, under a 100-year agreement dated April 1 1901 and later modified,
the M. C. & Ft. D . receiving 6 0 % o f all earnings from business interchanged.
A n y surplus of net earnings after paym ent of Interest on bonds and pref.
stock Is to be held In trust by C. G. W . for payment of future coupons.
This surplus on June 30 1907 amounted to $ 1 ,2 8 9 ,6 2 3 .
In 1905 $12,000 ,000
4 % bonds were sold. Compare Cldc. Great W estern R y . and V . 7 3 , p.
5 66, 616, 722; V . 77, p. 640. V . 7 8 , p. 1782; V . 80, p. 2621.
Report for
year end. June 30 1907 in V . 85, p. 1030, showed, gross, $2,0 6 4 ,6 3 9 ; net,
$758,726; charges, $532,079; b al., sur., $ 2 2 6 ,6 4 7 .— (V . 80, p. 1380.)
M A S S A W IP P I V A L L E Y R Y .— Province Line to Lenoxville, Q u e., 34
miles, with branch, 3 m .; trackage to Sherbrooke, Q ue., 3 m .: total. 40 m .
Leased for 999 years from July 1 1870 to the Connecticut & Passumpslc
Rivers R R . Stock, $800 ,00 0; par of shares, $100; dividends payable F eb.
and A u g. 1. Dividends, formerly 5 % , 6 % since Jan. 1 ’9 7 . Of the stock,
$400,000 owned b y the Conn. & Pass. River Is deposited under Its m tge. and
$50,000 Is represented by Connecticut Trust & Safe Deposit Co. of Hartford
5 % trust certificates.
(See “ Supplem ent” of October 1901.)
M cCLOUD R IV E R R R ., C A L IF O R N IA .— V . 85, p. 1005.
M E A D V IL L E C O N N E A U T L A K E & L IN E S V 1L L E .— Meadvllle to
Llnesvllle P a ., 21 miles, and branches, 2 miles; total, 23 miles. Leased
to June 8 1990 to Pittsburgh Bessemer & Lake Erie R R .; rental, 25 % of
gross earnings. Stock. $200,000; par, $50.
M E R ID IA N T E R M IN A L CO.— Owns passenger station at Meridian, Miss,
opened Sept. 1 1906, and used by the Southern R y ., Mobile & Ohio, New
Orleans & Northeastern R R ., Alabam a & Vicksburg and Alabam a Great
Southern, which own one-fifth each of the $25,000 capital stock and guar
antee the bonds jointly and severally by endorsement; form . V . 85, p. 601.
Pres., C. C. H arvey; Sec., W . J. Kelleher.— (V . 85, p. 601.)
M EM P H IS R R. T E R M IN A L CO.— V . 84, p. 570.
M E X IC A N C E N TR A L R Y . LIM IT E D (M EXICO) .— (See M ap.)
Owned—
M iles.
Owned—
M iles
96
Mexico City to Juarez CMy-------1,224 Jimenez to Rosario_____________
632
Mexico to Rio Balsas ------------------- 181 Other branches__________________
Chlcalote to Tam pico___________ 407
Leased—
Tam pico to Paredon------------------- 370 Mexico Union R y _______________
11
Branch, Irapuato to A m eca___ 217 Bar extension (Tampico to La
Branch, Guadalajara to Tu xBarra) ________________________
6
p a n ________________________ . . .
120
Surplus after divid en d s,....................
$689,760
$1,089,392
$1,925 726
_________________________________
...
Total July 1907 ........................3 .4 0 2
San
Pedro to Paredon.................. 138
— (V . 83, p. 1098, 1171, 1228, 1291, 1347; V . 84, p. 271, 1307.)
In A u g. 1905 an extension was proposed from Lecherla, near C ity of
M A N IL A R Y . (1906)
Ltd .— O R G A N I Z A T I O N .— To own (per plan
Mexico, to near Tam pico. 225 m ., including the Pachuca Zacaultlpan &
V . 83, p. 1470) practically all the bonds and shares issued b y the Manila Tam pico R y. (purchased), Sandoval to Apulco, & c., about 62 m ., the un
R R . of New Jersey. The latter will build about 420 miles of road on the
constructed Dortlon carrying a subsidy of 5 % Mexican Government sliver
Island of Luzon. Philippine Islands (V . 83, p. 1348), and take over the pres
bonds at $10,000 per mile. Coahuila & Pacific R R ., Saltillo to Torreon.
ent system , 208 miles, operated by the Manila R y. (old C o .), total to be
M ex., 200 miles, was acquired In Aug. 1905, an extension from Saltillo to
628 miles. Incorporated under laws of Great Britain. Speyer & Co. and
Paredon, 47 miles, being completed Sept. 1906.
V . 80, p. 1856; V . 81, p .
others are furthering the enterprise. Construction was begun in M ar. 1907.
7 2 6 , 1792; V . 83, p. 1466.
On Sept. 1 1905 acquired most of stock of M ex.
S T O C K .— Ordinary shares authorized, £ 2 ,0 0 0 ,0 0 0 : 5 % non-cum. prefer
N at. Construction C o ., owning road from Zacatecas to Ojacaliente, 30 m .,
ence shares, with preference as to principal in case of liquidation,£ 2 ,0 0 0 ,0 0 0 ,
and Manzanillo to Colima, 60 m ., a connecting line to be built from Tuxpan
all o f £ 1 0 each. Of ordinary shares, £ 1 ,6 0 0 ,7 3 0 is reserved for the new Co.
to Manzanillo, 102 miles, forming a through line to the Pacific Coast. V . 7 9 .
D E B E N T U R E S .— The “ A ” and " B ” 4 % debenture bonds are secured by
p. 1957; V . 80, p. 1172, 2621; V .8 1 , p. ,11,726. 1792; V . 83. p. 1466. Branch
the same trust deed and are a first and second charge, respectively. The from Ocotlan north to Atotonllco, 21 miles, was opened In July 1907.
“ A ” debentures are subject to call after 1925 at 105.
Denominations of
O R G A N I Z A T I O N .— Incorporated Feb. 25 1880 under the general law of
debentures, £ 2 0 , £ 5 0 , £ 1 0 0 and £ 2 0 0 . Total Issuable on 628 miles, £ 3 ,Massachusetts, and also holds a charter from the Mexican Government.
000,000 each of " A ” and “ B ” debentures, o f which there are now to be Is
Debt readjusted in 1889— see V . 4 8 , p. 191, 292, 327.
sued £ 1 .6 0 0 .0 0 0 “ A ” and £ 1 ,7 3 0 ,0 0 0 " B . ”
In O ct. 1907 consolidation of the Mexican Central R y . and the N at. R R .
Additional amounts of each class beyond the £ 3 ,0 0 0 ,0 0 0 m ay be Issued of Mexico was pending, the Mexican Government to acquire control of the
H.
L. Higgins will be Pres, and Gen. Man. of the A m . Co.— (V . 83, p . 1470) consolidated com pany, to be known as the National Railways of
Mexico. The new com pany will Issue prior lien 50-year 4 34% and general
M A N IST 1Q U E M AR Q U E TT E & NORTHERN R R .— Manlstique, M ich.,
mortgage 70-year 4 % bonds, the latter to be guaranteed, principal and
on Lake Michigan, northerly to Shlngleton, on the Duluth So. Snore & A t
Interest,
by the Mexican Governm ent. A syndicate has been organized to
lantic, 40 m ., with branch to M cNeil’s , 13 m .; V . 75, p. 185. Operates car
buy the bonds of the com pany at a given figure and then offer them In ex
ferries between Manlstique and Northport and Manlstique and Ludlngton on
Pere Mar-iuette R R .
Stock $2,0 0 0 ,0 0 0 , of which the Grand Rapids & change to the holders of the present securities of the Mex. Cent, and N at.
R R . of M ex. The M ex. Cent. con. 4s will be offered certain amounts of each
Indiana owned $ 1 ,898,800. V . 8 2 , p. 1098. Sold In foreclosure on Sept. 21
V . 83, p. 1470; V . 84, p . 51; V . 85. p. 921.
1905.
V . 81, p. 975; V . 78, p. 2012; V . 74, p . 776; V . 7 6 , p . 810.
No plan class of new bonds and stock.
A committee of dissatisfied income bondholders requested modification of
of reorganization formulated to June 1907.
March 21 to Dec. 31 1906,
plan. V . 85, p. 921.
gross, $105 ,63 2; def. underoper, expenses, $ 2 6 ,9 2 9 .— (V . 81, p. 975.)
S U B S I D Y .— The balance of the subsidy trust fund In the hands of the
M AN IST EE & G R A N D R A P ID S R R .— See page 178.
trustee for the paym ent of In t., If needed, on 1st consol. 4s, on June 30 ’ 07
M AN ITO U & P IK E ’ S P E A K R Y .— See page 178.
consisted of 51.186,000 of priority m tge. bonds at cost. $ 1 ,2 9 7 ,3 8 4 , and
$213 cash, $ 1 ,450,000 priority bds. (cost $1,586.178) having oeen wlthM A R IC O P A & PH O EN IX & SA LT R IV E R V A L L E Y R R .— Maricopa to
diawn from the fd. during the yr. end. June 3 0 '0 7 to pay Int. V .8 3 ,p .l4 6 6 .
Phoenix, A riz., 36 miles; Tem pe to Mesa, 7 miles: total, 43 miles. Acquired
S T O C K .— Authorized, $32,000 per mile or $100 ,00 0,00 0 in all; par, $100 .
at foreclosure sale Dec. 1906 by Southern Pacific Co.— (V . 83, p. 687.)
In July 1906 $11,285 ,000 new stock was listed and $328,200 additional
M A R Y L A N D D E L A W A R E & V IR O IN IA R Y .— See page 178.
was issuable for new acquisitions; to ta l, $ 5 9 .454 ,300 . V . 8 1 , p . 1792.
M A R Y L A N D & P E N N S Y L V A N IA R R.— Baltim ore, M d ., to York, P a .,
B O N D S .— O f the authorized issue of $8,000,000 priority bonds $ 1 ,403.000
80 miles, with branch. Delta to Peach B ottom , 4 m .
V . 72, p. 339. To be were paid off with subsidy collections, and canceled In 1891; $ 1 ,000,000 was
equipped electrically at least from Baltimore to Belalr, 26 m . V . 8 2 , p .138 reserved for additional rolling stock; the balance, $ 5 ,5 9 7 ,0 0 0 , was held aa
an Investment b y the trustee of the consol, m tge., but $ 1 ,961,000 waa
ST O C K A N D B O N D S .— Stock authorized, $ 3 ,6 0 0 ,0 0 0 , of which $ 1 ,9 9 7 ,withdrawn in 1904-05, $1,000,000 in 1905-06 and $1,450,000 In 1906-07
500 reserved for future requirements. In 1902 the authorized Issue of the
toward paym ent of interest on outstanding consol. 4s; on June 30 1907
first 4s was reduced from $2,700,000 to $ 1 ,2 0 0 ,0 0 0 , of which $203,000 are
$1,186,000 remained In the subsidy trust fund and $925,000 was In the
reserved to retire the York and Peach B ottom 5s and $97,000 addi
treasury. V . 52, p. 390; V . 79, p. 103; V . 82, p. 1497; V . 83, p. 1466.
(See
tional for future purposes, &c.
V . 7 4 , p. 94, 4 27’ V . 7 9 , p. 2205.
M ary
abstract of m tge. In V . 49. p. 177.)
land & Pennsylvania Terminal guaranteed bonds, V . 8 2 , p . 1041. 1102.
Both series of Incomes are non-cum. and secured b y one Indenture to the
Equipm ent notes Dec. 31 1906 $ 30,000 . Paid on Incomes 1901 3 % ; since
American L . & T . Co. of Boston. First Incomes received 3 % Interest In
to 1906, Inclusive, 4 % yearly.
1890 1891 and 1892; none since. V . 72, p. 627, 880. D em and o f Income
E A R N I N G S .— 12 m o s .,/1 9 0 6 -0 7 .................. Gross, $360 ,54 6; net, $123,305
bondholders for accounting, V . 85, p. 40.
July 1 to June 30.
1 1 9 0 5 -0 6 ..............G r o s s , 360,297 ; net, 120,217
In 1906. In addition to the $66,8 8 0 ,0 0 0 consol. 4s In hands o f public,
Surplus over charges, $ 63,298 , against $62,219 In 1905-06.
some $ 4 1 ,000 ,000 had been, or were to be, deposited as part collateral for the
R E P O R T .— For year end. Dec. 31 1906, gross, $354 ,35 4; net, $116 ,8 5 7 ;
$ 3 3 ,000 ,000 coll. trust notes o f 1906. See below.
In June 1906 $33,000 ,000 of 5 % coll. trust notes were sola maturing
Int. on bonds, & c., $ 82,002 ; mlscell., $ 1,099; bal., sur., $ 33,755 .
Pres.,
John Wilson Brown.— (V . 84, p. 390.)
July 1910, part of an Issue o f $35,0 0 0 ,0 0 0 . to be used In part to refund the
Operating expenses in 1906-07 include $514 ,64 3 for new equ ip., $724,306
additional being charged against Income for improvements; In 1905-06,
$ 1,262,581 extraordinary Items (including $828,027 for equip.) were in
cluded In operating expenses.— (V . 85, p. 718, 918, 921.)
M AN C H ESTER & L A W R E N C E R R .— Owns from Manchester, N . H ., to
Methuen (State L in e), 22 3i miles. Leased for 50 years from Sept. 1 1887 to
Boston & Maine at rental paying 10 % dlv. In 1895 a dlv. of 50 % paid from
proceeds of C. & M . suit.— (V . 7 3 , p. 1264.)
M A N H A T T A N R Y . (E L E V A T E D ).— (See M a p Interborough Rapid Tran
sit Co.)— Owns all the elevated railroads In boroughs of M anhattan and the
Bronx, N . Y . C ity, m ainline and branches, 37 lA miles, double-tracked, with
14 miles additional third track, sidings, &c. V . 70, p. 176, 633. Late in
1902 began using electric third-rail on entire system . V . 7 5 , p . 733.
L E A S E .— The Interborough Rapid Transit Co. leases the road for 999
years from Apr. 1 1903, guaranteeing 7 % per annum on the stock. V .7 5 , p.
1202, 1302; V . 7 6 , p. 212; V . 79, p. 2456; also Interborough Rapid Transit
C o., V . 7 6 , p. 101. Guaranty, V . 76, p. 480.
S T O C K .— On N ov. 28 1906 $4 ,8 0 0 ,0 0 0 stock was sold, raising the amount
to the $60,000 ,000 authorized. V . 83, p. 1228, 1291; V . 84, p. 271.
B O N D S .— Consolidated mortgage (trustee. Central Trust Co.) Is limited on
present mileage to $ 4 0 ,0 0 0 ,0 0 0 , and will provide for prior bonds when due.
Am ounts beyond $40,000 ,000 m ay be issued for extensions 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 compare V . 52, p. 353.
To M ay 1898 claims aggregating $ 8 ,847,854 had been paid as damages to
abutting property and other cases were before the courts. See “ Chronicle,”
V . 66, p. 9 54, and V . 6 7 , p. 789; V . 82, p. 1380; V . 83, p. 1171.
Personal
•property tax assessment see V . 66. p. 954; V . 67, p. 222; V . 68, p. 1282, and
V . 71, p. 1120; V . 84, p. 1307. Taxes In litigation Oct. 1906 (other than
franchise ta x ), per balance sheet, $347,940. V . 76, p. 212.
In Jan. 1907
franchise taxes for 1900 to 1905 ($3,170,142) were paid. V . 84, p. 271.
D IV I D E N D S .— I ’89. ’9 0 - 9 6 . ’97. ’ 98. ’99. ’ 0 0 . 0 1 . ’0 2 . '0 3 . Since.
4
4
4
4
4 73* 7 % y'rly
Since 1 8 8 8 ...........% l 5 3* 6 y ’rly. 4 V*
E A R N I N G S .— For 9 months ending Mch. 31:
0 M o s .—
Gross.
N et.
Other Inc. Chgs. & dlv.
Balance.
1 906 -07 ...........$ 10,350 ,082
$ 6 ,157,876
$307,233 $ 4 ,339,683
$2,125,426
1 905 -06______
9,363,849
5,2 5 7 ,9 9 2
284,708
4,3 1 0 ,0 9 5
1,232,605
Year ending June "A0—
1906.
1905.
1904.
Gross earnings............... .......................... — $ 1 2 ,794 ,720 $13,198 ,292 $14,187,685
Net over operating expenses__________ 7,3 7 2 ,0 0 6
7,651,354
8 ,341,634
Other incom e_________ ______ __________
363,308
309,552
341,504
Interest, rentals and taxes____________
3,181,554
3,007,515
2,893,412
D iv id e n d s ............. ..................................... (7 )3,864,000 (7 )3,864,000 (7)3,864,000
H
£ -tC0
&
SONORA
N V 0 IX 3W
87
RAILWAY STOCKS AND BONDS.
O ct., 1907.]
R A IL R O A D S .
F o r explanation of column headings & c., see notes
on first page of tables.
M ain e C en tral— (C o n c lu d e d )
!
M iles Date I Size, or
Amount
Par
of
of
Road. Bonds. j Value. Outstanding
14
D exter & Newport stock 5 % from N ov 25 18 9 8 -------i
14
First M (old 6s refunded In 1897) guar p & I en d . _ *!
19
Eastern Maine stock 4 ]4 % rental 999 years----------137 1904
W ash Co 1st M $20,000 o m sold guar (end) red
1907
Somerset R y notes $ 1 ,500,000 gu p & i----------------------*22
Manchester & Lawrence— Stock 10 % rent till ’ 37 B & M
1892
Real estate bonds (not mortgage) Int gu by B & M .c
” 37
M anhattan (Elevated) R y, N Y— Stock $ 6 0 ,0 0 0 .0 0 0 ..
18 1878
Metropolitan El 1st M $600,000 p m assum g ..C e .c * j
32 1886
N Y El debentures secured by con mortgage of 1890
32 1890
Manhattan Elevated consol mortgage gold.C e.c* &ri
M an & Pikes’ Peak Ry— 1st M $500,000 g old . ..M p .C
9 i 1891
7 l! 1905
M d D & Va— 1st M $2,000,000 auth gold guar p & 1!
40 1882
Maryland & Penn— York & Peach Bottom m o rtg a g e ..!
80 1901
First M $ 1 ,200,000 gold call at 105_______ MeBa.c*
80; 1901
Income M $900,000 4 % cum call at par-----------MBa
1906
M aryland& Penn Ter 1st M $200,000 g gu p&l redlOl
37S 1905
Mason City & Ft Dodge— 1st M $12,000 ,000 g-.C e.c& r^
37!
Massawippi— Stock guar same dlv as Conn & P a s s ..
23 1891
Meadville Conneaut Lake & Linesville— First mortgage
1905
Meridian Terminal—-1st M $250,000 g guar-------S.c*&r
1881
Mexican Central— 1st M Including scrip-------------------j
1889
Priority bonds gold redeemable at 1 1 0 _____________
Consolidated mortgage $32,000 p m g o ld ._B B c*& r 3.138 1889
First cons Inc & scrip non-cum ($9,000 p m) g . AB.c* 3.138 1889
2d cons Inc ($6,400 p m) red 50 % to Aug 1929 A Be* 3.138 1889
1881
Registered Income bonds and scrip unassented-------r
1905
Collateral trust notes $ 1 0 ,000 ,000 auth and scrip — I
1906
Collateral trust notes $35,000,000 g red par & s c r ip ..
Car and locomotive rental notes--------------------------- s . .
1897
Equlpm ent 5s $50,000 redeemable yearly at p a r_.i
1899
do
($50,000 yearly par) red 1 0 2 H beg ’ 10 OB c*
615] 1897
Mex Int— Prior lien £ 1 ,2 0 0 ,0 0 0 red at par_U n.xc*& rj
880 1897
First cons M $16,000 ,000 gold not g u a r ..M p xc*&rj
880 i 1897
do
gold guar stp subj to call at 95 to Mar 1907
Income 4 % bonds (no mortgage) non-cum ulatlve..
"1 6 1899
Mexican Mineral— 1st M $500,000 g red 110 S f ..M o i
$100
...........100
1,000
...........loo
1,000
100
£ & $
1,000
1,000 &c
1,000
1,000
50 &c
1,000
1,000
1 000
1,000
■100
1,000
1,000 &c
1,000
1,000
1,000
1,000
1,000
1,000
5,000
1,000
'* '1 * 6 6 6
1,000
£1 0 0 &c
$500 &c
500 &c
_________
M E X I C A N C E N T R A L R Y . ( C o n c lu d e d ) —
$ 2 9 ,0 0 0 ,0 0 0 coll. trust Issues maturing In 1907 and 1908. The present Issue
will be secured by deposit of $1,200,000 priority 5s, $5,000,000 M ex. Pac.
1st guar. 5s, $ 2 ,500,000 Tampico Harbor 1st guar. 5s, $41,000 ,000 consol.
4s and $5,00 0 ,0 0 0 1st consol, incomes. T h ecoll. trust issues, each $10,0 0 0 ,000 maturing 1907 and 1908, had the right of exchange on certain terms.
V . 82 p 1 4 9 7 :V . 83. p. 156.
E A R N I N G S .— M ex. cur. \ 1 9 0 7 _ ...G r o s s , $ 6 ,0 8 8 ,6 5 9 ; net. $ 1 ,691,822
July 1 to A u g. 31 (2 m o s.).J 1 9 0 6____ Gross,
4 ,3 6 5 ,6 2 3 ; net,
917,046
A N N U A L R E P O R T .— Fiscal year ends June 30. Report for year ending
June 30 1907 was In “ Chronicle” O ct. 26 1907. The gross earnings below
are M exican currency; all other figures United States currency. Mexican dol
lars averaged 50.11c. in year ending June 30 1907, 50.05c. for fiscal year
1 905 -06 and 48.41 in 1904-05.
--------------Years ending June 30---------------1906 -0 7 .
1905-06.
1904-05.
Gross earnings (Mexican currency)___ $ 31,236 ,195 $28,376,806 $26,097,699
Operating expenses____________________ 2 2 ,0 7 „ ,1 7 8
19,810,645
1 7 ,599,176
N e t earnings (Mexican c u rre n c y ).. $:),166,017
$ 8 ,5 6 6 ,ie i
$8,498,523
N et earnings (U . S. currency)______$4,604,456
$4,287,862 $4,118,173
IN C O M E A C C O U N T F O R Y E A R E N D IN G JU N E 30 1907.
U. S . Currency.
N et earnings_______________$4,604,4561
Deduct—
Interest on Tampico HarTam p.H arb.C o.rent.acc’t. $160,125
137,975 |Interest on bonds__________ 4,327,215
bor Co. bopds___________
100,637
W ithdraw n from sub. fund 1 ,450,000 |Accts., & c., charged ofT__
|Discount on gold notes___
252,988
Betterments & improv’ts . 1,315,429
5,948
Op. def. Coah. & Pac. R R .
Misc. int. & oth. ch arges..
36,991
Total deductions_______ $6,199,333
Total ava ilab le_________ $6,192,430
Balance, deficit for y e a r ..
$6,903
Chairm an of Board. H . Clay Pierce: President, Eben Richards.
Executive Com m ittee: H .C lay Pierce (Chair, of Board), Eben Richards,
F . H . Prince E . N . Foss, C. D .Sim pson, B . W .P alm er and Pablo M .del R io.
Office 25 Broad St. N . Y . — (V . 85 0 .7 9 3 864 921.)
M E X IC A N IN T E R N A T IO N A L R R .— (See M a p , page 9 9 .)— Operates
Eagle Pass, T e x. (on Southern P a c .), and Ciudad Porfirlo D iaz, via Torreon
o n M e x . C e n t..to Durango. 540 m ., with branches, 117 m .; R eata to M onte
rey, 72 m .; branch to Tlahualllo, 43 m .: branch, Durango to Tepehuanes
via Santiago Papasqulero, 135 m .; Carbon branch, 4 m .; total, 911 m .
June 30 1906, Including Coahuila Coal R y ., Baroteran to Musqulz, 24 m .,
leased for 15 years from M ay 1 1906. V . 83, p. 1112.
Branch, Sabinas,
M e x ., to Roslta, 10 miles, was opened Feb. 1907.
Extension of Durango
branch to Mazatlan, on the coast, is proposed. Organized under laws of
Connecticut.
In April 1902 control of the road ($15,786,100 of the stock and all of the
$4 ,4 9 9 ,0 0 0 Income bonds) was taken over by the National R R . of Mexico
as per plan, V . 73, p. 784. See V . 7 6 , p. 1192.
S T O C K .— Authorized $ 2 5,000 ,000 : Issued Jan. 1907, $20 ,7 0 8 ,2 0 0 .
B O N D S .— In 1897 reorganized. Of consol. 4s $ 2 ,497,000 were In Jan.
1905 reserved for extensions at $10,000 per mile and Improvements. The
total Issue of consols Is limited to $ 1 6 ,0 0 0 ,0 0 0 . The National R R . of
M exico under agreement of June 30 1902 has stamped $ 6 ,501,000 of the
consols as guaranteed, prin. and Int., these having been subject to call at
95 and Int. on or before Mch. 1 ’07. V . 75, p. 185. Of the consols, $ 3 ,0 0 0 ,000 are deposited as collateral for the N at. R R . of M ex. 5 % notes. V . 77,
p. 7 6 9 . Prior lien 4 H s , see V . 6 5 , p . 151, 1071. Consol. 4s of 1897 listed
on N . Y . Stock Exchange Feb. 1898. See application In V . 66, p . 341.
D ividend on Incomes, 4 % , was paid for 1902 to 1906 inclusive.
E A R N L N G S .— M ex. cur. 1 1 9 0 6 -0 7 ..G ross, $ 8 ,5 7 2 ,7 6 6 ; net, $ 2 ,866,402
July 1 to June 30 (12 mos.) J 19 05-06-.G ro ss, 7 ,3 1 4 ,2 0 5 ' net,
3,13f>,755
6 mos. toTot. rec'ts.
Net rev.
Net.rev.
Oth.inc.
Int.on
Balance,
June 3 0 .(M ex.cur.)
(M ex.cur.) (U .S .cu r.)
Inc.
bonds.
surplus.
1906 ..$ 4 ,0 3 7 ,5 3 3
$1 ,6 5 8 ,4 6 8
$829,234
$16,020 $275,755
$569,499
1905
3,242,482
1 ,217,047
602,560
16,199
275,755
343,004
R eport for the half-year 1905-06 was in V . 83, p. 1092, 1 121, 1069.
A N N U A L R E P O R T .— Report for year ending D ec. 31 1905 was given at
length in V . 8 2 , p. 800, 814; see also editorial, p. 779.
In 1905 gross on
average of 884 miles, $ 6 ,519,162 (Mexican currency); net, $ 2 ,6 6 3 ,4 8 5 ; in
U . S . m oney, net, including other Income, $1 ,3 5 2 ,7 8 4 ; int. on bonds, $551,510; miscellaneous (net) item s, $ 16,452 ; interest on incomes, $179,960;
balance, surplus, $60 4 ,8 6 2 .
Pres., E . N . Brown. New York office, 60 W all
S t .— (V . 81 p. 1702: V . 82, p. 1497; V. 83. p. 1092, I 121.)
M E X IC A N N A T IO N A L R R .— See National R R . of Mexico.
M E X IC A N NORTH ERN R Y .— Owns from Escalon, M exico, on the M exi
can Central R y ., to Sierra M ojada, 83 miles, all steel.
S T O C K .— Capital stock Is $ 3 ,0 0 0 ,0 0 0 ; par of shares, $100; see application
or listing on N . Y . Sto<5k Exchange in full, V . 6 4 , p. 619.
D I V I D E N D S .! ’ 92
'93
’ 94
’ 95
’ 99
’00
’01
’ 02
’ 03 None
P e r c e n t ___ / 6 ^
6
6
4 yearly.
5
4H
2
Since.
B O N D S .— M tge. $ 1 ,6 6 0 ,0 0 0 , of which $786,000 In s. f. D ec. 31 1906.
R E P O R T .— For year ending Dec. 31, U . S. currency:
Year—
Gross.
Net.
Oth. inc.
Charges.
Surplus.
1906
$328,816
$210,505
$46,503
$116 ,04 0
$140,968
1905 ................. 352 799
230,712
4 2,705
1 19,516
153,901
— (V . 7 2 , p . 5 81, 1011- V . 74, p. 1089; V . 77, p . 2 098 ; V . 83, p . 1344.)
M E X IC A N R Y .— M E X IC A N SOUTH ERN R Y .— See page 178.
M IC H IG A N C E N T R A L R R .— (See M a p s New York Central & Hudson
R iver.) — L I N E O F R O A D .— Main line— Kensington to D etroit. 270 m .,
and W indsor to Suspension Bridge (Canada Southern), 226 m .; total main
lin e 496 miles.
Branches ownedfand leased, 1,235 m .: trackage (111. Cent.)
Into Chicago under perpetual lease, 14 m .; total, Jan. 1 1907, 1,745 miles.
There are 512 m . of second track and 1,216 m . of side tracks.
Owns $ 3 ,000,000 of the $20,000 ,000 stock of Chicago Indiana & South
ern, which see. In Dec. 1907 the Chicago K alam azoo & Saginaw R y .
Pavilion to W ood bury, M ich., 55 m iles, was acquired in the Interest of the
[V o l .
RAILWAY STOCKS AND BONDS
88
I N T E R E S T OR D I V I D E N D S .
Rate
%
When
Payable.
Where Payable, and by
Whom.
lxxxy.
Bonds— Prlnci■nrtl Whart Tin*
Stock »— Last
Dividend.
& J Treasurer’s Office,Portl’d July 1907 ZM %
$122,000
5
J
M & S 2d Nat B k. Bost & Port Sept 1 1917
175,000
4
N ov 1907 2 Vi %
200,000
M & N Office, Rockland Me.
4«
2,500,000
& J Treas Office, Portland,Me Jan 1 1954
3M g J
1911
June
5
1,500,000
1,000,000
10
M & N Manchester and Boston Nov 1 1907 5 %
274.000
4
& J Boston & Me R R , Boston Jan 1 1922
J
21 Park R ow .N ew York Oct 1 ’07 1 % %
60,000.000
7
Q— J
10.818.000
& J Mercantile Trust Co, N Y July 1 1908
J
6 g
Mar 1 1916
do
do
1,000,000
5
M & S
April 1 1990
do
do
28,065.000
A & o
4 g
500,000
5
A & o See tex t.
Oct 1 1909
2,000,000
F & A Treasurer’s Office, Phlla Feb 1 1955
5 e
202,450
5
M & s First N at Bk, York Pa. April 1 1932
897,000
M & s Brown Bros, N Y ; & Balt Mar 1 1951
4 g
April 1 1951
900 000 4 In 1903 A & o
do
do
200.000
M & N Alex Brown & Sons, Balt May 1 1936
5 g
June 1 1955
12,000.000
& D Blair & Co. New York
J
4 g
800,000
6
F & A S D & Tr Co, Boston Aug 1 1907 3J6
200,000
5
&
J Merch Nat Bk. Meadv .Pa July 1 1921
J
May 1 1955
250,000
M & N Standard Tr. C o.. N Y
4 g
265,062
& J Safe Dep & Tr Co.Boston July 1 1911
(7) 4
J
July 1 1939
&
J
J
See text.
5 g
66,880,000
& J Safe Dep & T r C o , Boston July 1 1911
J
4 g
Jan 10 1939
20.569.700
July 10
None ^>ald.
3 g
Jan 10 1939
11,282,000
3
July 1 1911
327.200
do
3
July l
1,226,195
& J C o.’s O ff,25 Broad S t ,N Y iSept 1 1908
J
5 g
July 1 1910
J
28,8)8.92(1
& J
5 g
4,410,312
A & o Old Col Tr Co, Bost& Lon April 1 1917
500.000
5 g
Oct 1 1919
600.000
A & o
do
do
5 g
Sept 1 1947
5,850,000
4 Vt g M & s Speyer Bros, London
705,500
M & s Speyer & Co, New York Sept 1 1977
4 g
Sept 1 1977
6 ,501.000
M & s
do
do
4 g
4 ,499.000 4 In 1906 Sept 1 Owned by N at R R of Mx Sept 1 1977
Aug 1 1919
F & A Morton Trust Co, N Y
b$340,000
6 g
com pany, but will-be operated independently. V . 84, p. 50.
In A ug. 1907
the Detroit & Charleroix R R ., Frederick to South A rm , 44 miles, with
branch to Blue Lake, 8 miles, was purchased. V . 85, p. 221.
For contract
with Canada Southern see that com pany.
In July 1906 the Michigan Central was building a third-rail electric tunne 1
road under the Detroit River from W indsor O n t., to Detroit, M ich., 2.42 m .
long, under the charter of the Detroit River Tunnel C o., which is leased for
999 years from Jan. 1 1907. See B O N D S below. V . 80, p. 2343; V . 8 2 ,
p. 1156; V . 84, p. 339, 1052.
O R G A N I Z A T I O N , C O N T R O L .— Re-Incorporated under general law
In D ec. 1901, V . 73, p. 1208. The N . Y . C. & H . R . R R . Co. In April 1898
gave $115 in Its 3 'A % 100-year gold bonds for $100 stock, and 60 holds
$16,8 1 4 ,3 0 0 of the $18,7 3 8 ,0 0 0 stock Issued.
D I V I D E N D S .! ’ 8 3 ’84 ’85-86 '87-8 9 ’ 9 0 ’ 91 ’ 92-94 ’ 95 to J l y ’ 06 1907
P ercent— j 5 3
nil. 4 y ’rly. 5 5 5M y ’rly.
4 y ’rly.
6
In Jan. 1907, 3 % (sem l-an.).
B O N D S .— Battle Creek & Sturgis bonds for $ 5 00 ,00 0, but of this $79,000
was sub-guaranteed b y the Lake Shore & Mich. S o ., 7 miles of the B . C. & S.
being operated b y that com pany. The $ 1 ,740,000 3 H s of 1901 are a 1st
m tge. on the Jackson Lansing & Saginaw R R .. 350 miles (V . 73, p. 1061:
V . 7 6 , p. 1027).
Of the $18,000 ,000 314s of 1902, $10,000 ,000 were sold
to retire first 5s and 7s, $4,000,000 additional being sold; $ 5 ,000,000 re
served for additions, &c. V . 7 4 , p . 728: V . 7 6 , p. 102; V . 83 p . 1 228 .
In June 1907 $1,500,000 first 4s on Joliet & Northern Indiana (author
ized issue $3,000,000) were sold. V . 84, p. 1367. 1428.
Toledo Canada Southern & Detroit guar. 4s of 1906, see V . 82, p. 930; form
of guaranty, V 85, p. 406.
The Detroit River Tunnel bonds, authorized issue $ 1 5,000 ,000 (see above)
bearing Interest at not exceeding 5 % , will be guaranteed by the Mich. Cent..
V . 8 2 , p. 868 1156.
G E N E R A L F IN A N C E S .— In Jan. 1907 dividend rate was raised from
4 % to 6 % yearly; V . 83, p. 1411.
In Jan. 1907 $10,0 0 0 ,0 0 0 3-year 5 %
notes were sold: V . 84, p. 271.
E A R N I N G S .— For 8 mos. ending A u g. 31, gross, $18,695 ,084 in 1907,
aganst $16,913 ,595 in 1906.
For 6 m on th s ending June 30 (partly esti
m ated in 1907):
6 M o s.
Gross.
N et.
O th .in c .
Charges.
Dividends. B a l.,S u r
1 9 0 7 .$ 1 3 ,8 3 3 ,9 8 2 $ 2 ,502,559 $250,638 $2,11 5 ,5 1 9 (3 % )$ 5 6 2 ,1 4 0 $75,537
1 9 0 6 . 1 2 ,619,143 2,2 8 5 ,2 2 6
200,432
1,960,455 ( 2 % ) 374,760 150,443
A N N U A L R E P O R T .— Report for 1906 was in V . 84, p. 864, 874.
Year ending D ec. 31—
1906.
1905.
1904.
1903.
Gross earn in gs..................$26,275 ,588 $23,283 ,868 $21,492 ,945 $22,552,201
Operating expenses____ 21,73 0 ,2 6 4
18,865,916
17,041.014
1 7 ,973,470
N et earnings..-_______ $ 4 ,545,324
$4,41 7 ,9 5 2 $4 ,4 5 1 ,9 3 0
N et, lncl. other incom e. $4,94 7 ,3 2 8
$4,733,764
$4,515,401
Rentals paid......................
566,310
561,202
541,310
Interest on debt................ 2 ,073,850
2 ,015,320
1 ,989,663
Taxes ......................... .........
1,001,741
962,002
1,111.653
Interest on loans, &c___
317,599 221.785
_____________
D iv id en d s .........................
(5)936,900
(4)749,500
(4)749.520
$4 ,5 7 8 ,7 3 0
$4,63 3 ,6 6 2
521,398
1 ,978,642
888,851
_______
(4)749,520
S u r p lu s ............................
$50,928
$223,934
$123,255
$495,253
Pres., W m . H . Newman, N . Y . — (V . 84, p. 1551; V . 85, p. 221, 346.)
M ID D L E T O W N U N IO N V ILL E & W A T E R GAP R R .— (See M a p E rU
R R. C o .)— Owns from Middletown, N . Y . , to Unlonville, N . Y . , 13.65 mllee.
Stock, $149,850; par, $50. Controlled,through sto ck ,b y N . Y . Susq. &
W e s t., which pays int. on bonds.
In year ending June 30 1907, gross, $ 75,640; net, $ 2 6,64.!; charges, $ 22,440 ; sur., $ 4 ,2 0 3 .— (V . 64, p. 664.)
M ID L A N D V A L L E Y R R .— Owns and operates from Excelsior, A r k .,
south to H oye, A r k ., and north to Fidelity. A rk.; also from Excelsior west
to Sllverdaie, K a n ., and from Jenks, O. T ., to Glenn Pool, O. T , a total of
299.3 miles; also operates under trackage from Maney Jet., A r k ., to Ft.
Sm ith,16 m ., and Sllverdaie to Arkansa sC ity.,K an., 9 miles; total operated,
324 miles. S e e V . 78, p. 702, 1109: V .8 0 , p. 2345.
The Cherokee Construe. C o ., with $ 3 ,500,000 stock. Issued $5,000,000
3-year 6 % gold notes due Dec. 1 1907, which are secured by all the stock
and bonds of the Mid. Val. and mtge. on 18,500 acres of coal lands; they are
redeemable at 102 H . V . 8 1 , p. 1610. The tonnage from 30,000 additional
acres is controlled.
Stock authorized, $9,0 0 0 ,0 0 0 : outstanding O ct. 1907 , $ 5 ,980,000; par
of shares, $50.
Bonds are subject to call at 107 H to and Including Jan. 1
1910.
For year ending June 30 1907 (318 average miles), gross, $961,222;
net, $ 2 45 ,75 5.
Pres., Charles E. Ingersoll; Sec. and Treas., H . E . YarnaU.
Office, Girard Trust B ldg., Philadelphia.— (V . 8 1 , p. 1610.)
M IL L C R E EK & MINE H ILL N A V IG A T IO N & R R .— Mill Creek Jet. to
Broad M tn ., P a ., 6.3 m .; branch, 3.5 m .; 2d track, 3.8 m .: total track, 34.6
miles.
Leased In 1861 for 999 years to Phlla. & Reading R R .; lease as
sumed In 1896 by Phila. A Reading Railway, rental, $33,000 and taxes.
M1LLEN & SO U TH W ESTER N R Y .— Owns Millen, G a., to Vldalia, 53
miles.
In Au g. 1907 consolidated with the new Georgia & Florida R y .
which see. V . 82, p. 751, 121 2 ;V . 8 5 , p. 346.
Stock June 30 1905, $39,000 .
A s to the 1st 5s, see V . 80, p. 1424. There
were also $83,000 6 % Income debentures ($1,000 each l, dated Sept. 14 1905,
due 1915.
In year ending June 30 1906, gross, $ 8 8,349 ; net. $25,061 .
Pres.. John Skelton W illiam s, Richmond. V a — (V . 85, p . 346.)
MINE H ILL & S C H U Y L K IL L H AVEN R R.— From Schuylkill Haven to
Ashland and Enterprise Jet., 42 m .; 2d track, 19 m .; total track, 134 mllee.
In 1897 rental reduced to 6 % on stock under new lease for 999 years from
Jan. 1 1897 to Phlla. & Read. R y . Co.
Dividends paid stockholders are
2 Yt °z. in Jan. and 3 % In July. H % being deducted for taxes.— ( V .6 3 ,p .l0 ll
M IN E R A L BELT R Y .— V . 8 3 , p. 1229.
M IN E R A L R ANGE R R .— Houghton, M ich., to Calumet, M i c h . , 14 m .;
Hancock to Mohawk, 21 m .; branches, 30 m .. South Range extension,Keweenaw B a v to Mlchleran Mine, 39 m . t opened Dec. 24 1900; trackaere, 5 m .;
Mohawk R R . operates 17 m .; total. 126 miles, all standard fcauej.
On
June 1 1901 the Hancock & Calumet R R . was mereed (V . 73. p.
year 1895 paid dividends 10 H % ; In 1896. 7 % ; 1897, 7 % : 1898. 3 H % ;
none since Auth. stock, $ 1 ,2 0 0 ,0 0 0 ; outstanding. $1,0 8 5 ,0 0 0 ; par, $100.
B O N D S — Consols for $7,000 are reserved for $5,100 old bonds. O f th©
89
RAILWAY STOCKS AND BONDS.
O ct ., 1907.]
[V o l .
RAILWAY STOCKS AND BONDS.
90
IN T E R E S T OR D IV ID E N D S .
R A IL R O A D S .
For explanation of column headings, & c., see notes
on first page of tables.
M iles Date
Size, or
of I of
Par
Amount
Road. Bonds. Value. Outstanding
Rate
When
Payable.
Where Payable, and by
Whom.
lxxxv.
Bonds— Princi
pal, When D u *,
Stocks— Last
Dividend.
Mexican National— See National R R of Mexico.
a$844,000
6 g
J
& D Office, 82 Beaver St, N Y Dec 1 1910
1,000
83 1890
Mex Nor— 1st M U S gold s 1 not called____ M o .c'& r
£1 0 £ 2 ,2 5 4 ,7 2 0
Mexican Rail nay Limited— Ordinary shares_________
£10 £ 2 ,5 5 4 ,1 0 0 71-ieIn’Ofi M & N Glyn,Mllls.Currie&Co.,Lo M ay 17 '07 4 %
First preference stock 8 % _____________________________
do
do
M a y l7 ’0 7 115-10
£10 £ 1 ,0 1 1 ,9 6 0 See text. See text.
Second preference stock 6 % ___________________________
6
J
& J Glyn,Mills,Ourrie&Co,,Lo Perpetual
£10 £ i ,000 0 00’
321
Perpetual 6 % debenture stock___________ _______ _____
M ay 9 1907 3 %
£1 ,0 0 0 ,0 0 0 See text. See text. Checks mailed.
Mexican So Ry Ltd— Ordinary shares £ 1 ,0 0 0 ,0 0 0 ____
£58 6 ,5 2 4
4
F & A
228 1896
Second M 4 % deb stock £ 6 0 0 ,0 0 0 red at par 90 years
J Grand Cent Station, N Y July 29 1907 3 T*
100 c l8 ,7 3 8 ,0 0 0 6 in 1907 J &
Michigan Central— Stock________________________________
1952
3 ^ g M & N Reg at G C S; cp at G T May
270 1902 1.000 &c 14.000.000
First mortgage $18,000 ,000 gold____________ G.c*& r
4
1940
2,600,000
J
& J Reg at G C S; cp at U Tr Jan
115 1890 1.000 &c
M C Michigan Air Line first m ortgag e____ Un.c&r
1931
1,000 j 4,000,000
M & S Union Trust Co, New Y k Mar
152 1881
M C 1st M on Det & Bay City ($ 4 ,0 0 0 ,0 0 0 )___ Un.c
Q— M Grand Cent Station, N Y Mar
1931
152 1881 1.000 &C
do
do
bonds without coupons____ r
M & S Union Trust Co, N Y
Sept
190»
1.500.000
6
1,000
84 ’7 9 - ’86
M C first mortgage on Grand River Valley R R .U n .c *
700.000
1930
5
M & N Grand Cent Station, N Y N ov
39 1889 1.000 &c
M C first mortgage on Kalam azoo & S H aven__Un.r
1941
725.000
J
& J Reg at G C S; cp at U Tr July
4 g
1896 1.000 &c
M C 1st M Term $1,500,000 V 6 4 , p 8 8 6 )............. c&r
1951
1.740.000
1,000
350 1901
3 X g M & S Reg at G C S; cp at G Tr Sept
Mich Cent 1st M on Jack Lans & Saginaw go ld .c*& r
July 10 195T
1.500.000
J & J10
4 g
45 1907
M C 1st M on Jol & Nor Ind $3,000,000 g o ld ________
To ju n e 1 191®
1,096,200
1904
454 g Q— M
Car trusts (reg part ctfs) guar Am er C & F ..S S t
F & A Grand Cent Station, N Y Feb 1 1910
5
1907 1.000 &c 10.000.000
N otes $10,0 0 0 ,0 0 0 g o l d ________________________ c&r
2,000.000
3^
100
M & S Grand Cent Station, N Y S e p tl ’07 1 % %
Jack Lans & Sag stock 3 H % yearly guar by e n d ..
491,200
July 1907 2 H %
100
5
J
& J Jackson, Mich.
"8 4
Grand River Valley stock rental In perpetuity______
250.000
J
& D Union Trust Co N Y
18 1889
1,000
Dec 1 1989
3 g
B ay City & Battle Cr 1st M g guar p & 1 e n d _.M p .c*
J
& D
do
do
421.000
Dec 1 1989
1,000
3 g
41 1889
B attle Cr & Sturgis 1st M g guar p & 1 e n d ..M p .c *
3.100.000
J
&
J Grand Cent Station, N Y Jan 1 1956
4 g
T olC anSo& D etlstM $ 4 ,500,000 g gu p&l(end) Qc*&r
59 1906 1.000 &c
N ’ neMar’07
1906
D etroit River Tunnel 1st M $15,000 ,000 guar-------G
M & N New York Susq & W ,N Y N ov 1 1911
150.000
13 1866 * Too "&c
5 g
Middletown Union & W ater Gap— 1st M ext in ’8 6 . _c*
J & D
do
do
June 1 1910
250.000
5
500 &c
1871
Second mortgage Int guar ext in 1896 (see t e x t ) ..c *
J & J Office, Philadelphia.
[Jan 1 1954
5.854.000
1,000
Mid Val— 1st M $20,000 p m gold red (te x t). . GP.c*
293 1904
5 g
323.375
10
J & J Philadelphia
July 1907 5 %
25
Mill Creek & Mine Hill Navigation & RR— Stock____
Millen & Southwestern— See Georgia & Florida.
I
arth W este
Milwaukee Lake Shore & Western— See Chicago &
Milwaukee & Lake W innebago— See Wisconsin Centra)
Milwaukee & Northern— See Chicago Milwaukee & St Paul
J & J Office, 119 S 4th S t. PhllaiJuly 15 ’ 07 3 %
4,210,200
50
42
5H
Mine Hill & Schuylkill Haven— Stock (6 % rental)____
Jan 1 1931
593.000 4 g-5 g J & J 4 4 W all S t, New York
500 &c
66 1891
Mineral Range— Cons mortgage (text) gold red at 1 05.c
J & J All owned by Can Pac
Jan 1 1951
100,000
1,000,000
4 g
General mortgage Interest guar by Canadian P a c.~ F
66 1901
J &
J. .44
S t, New ---------York
(Jan 1- 1931
1.000
325.000 ------ -----------------------5 g
„
_
. .WaU
-------------------------20 1891
Hancock & Cal cons M gold red at 105 a ssu m e d .,
c O f w h lc h $16,81 4.300 held by N Y C & H R R R Co.
a Exclusive of $816,000 held by sinking fund,
b $1 0.000 additio nal In sin king fund.
--
{ i
...
$593,000 outstanding, $339,000 are 5s; the Can. Pac. on June 30 1907 owned
the remaining $254,000 (which are 4s), and the $1,000,000 gen. m tge. 4s
both of which It guarantees as to Int. V . 75. p. 554. See V . 73, p. 556, 616;
V . 7 3 . n. 785. Of tonnage in 1906-07 8b % was ores and mining products
E A R N I N G S .— For 2 months ending A u g. 31:
2 months—
Gross.
N et.
Other inc.
Charges.
B a l., sur,
1907
................ $148,633
$36,802
$1,443
$24,590
$13,655
1906
132,277
44,574
197
24,592
20,179
R E P O R T .— Fbr year 1906-07, gross, $786 ,94 1; net, $169,796; other in
com e, $ 1,849; taxes, $34,741 ; In t., $91,360 ; sur., $45,545 — (V . 73, p. 785.)
M IN N E A P O L IS & ST. LO U IS R R .— (See M a p .) — Owns main lino Min
neapolis to Angus, Ia ., 260 ■miles; Western D iv ., Hopkins to W atertow n,
S. D ., 215 miles; Kalo Branch, 1J^ m .; Lake Park Branch,
m .; W inthrop, M inn., to Storm Lake, M inn., 154 m .
Leases trackage from Minne
apolis to S t. Paul over St. Paul & N orth. Pac. R R ., 10 m .; from Spencer to
R uthven over Ch. M . & St. P ., 12
m .; from Tara to Fort Dodge, over 111.
C ent., 6 m .; leases Des Moines & Fort Dodge R R ., Des Moines to Fort Dodge
and Tara to Ruthven, 1 3 8 H m .; total operated, 799 miles. Also owns, but
leases to Bur. C. R . & N o r .. Albert Lea to Iowa State Line, 13 m.
The Minnesota D akota & Pacific R y .. Incorporated In Jan. 1906 with
#200,000 authorized stock, is building extension from W atertow n, S. D .
west to Missouri River at Le Beau, S. D .. 172 miles, and branch lrom Conde
northwest to Leola, S. D ., 57 miles, completed Sept. 1907.
H I S T O R Y .— A reorganization in O ct. 1894, per plan in V . 5 9 , p. 371, of
Railway foreclosed under Improvement and equipment mtge.
In June 1900 nersons Identified with Minn. & S t. L . obtained control of
the Iowa Central R y .
The same Interests control the Toledo St. Louis &
W estern, which In Sept. 1907 acquired control of the Chicago & A lton.
The Des. M. & Ft. Dodge R R ., control of which was acquired in 1904, is
leased for 30 years from Jan. 1 1905. V . 78, p. 2335; V . 79, p 269, 1704;
V . 81, p. 1430.
S T O C K .— Com m on, $ 6 ,000,000; pref., 5 % non-cum ., $ 4 ,0 0 0 ,0 0 0 . After
5 % on each, they share pro rata.
D I V S .—
) 96. '97. ’98. ’99. ’00. ’0 1 . ‘02. *03. ’ 04. ’05. ’ 06.
1907.
Preferred__%\
3 3
3J^4H
5
5
5
5
5
5
5
5
C om m on___ % ] ----------- None------------ 1H
4 5 5 2 ^ 0 0
0
B O N D S , & c.— Bonds Issued under the m tge. due June 1927 numbered
from 1,101 to 1,400, for $500 each, additional to those above, were assumed
by Burl. Cedar R ap. & North, (now Ch. Rock I & P a c.).
A s to first consol, m tge., see abstract V . 59, p. 1145,
The refunding
m tge. of 1899 limits the first consols to $5,155 ,0 0 0 .
First refunding mtge. of 1899 Is for $25 ,0 0 0 ,0 0 0 , of which $10,000 ,000 re
served to retire underlying bonds and $5,341,000 for future extensions. Im
provements, & c.. under severe restrictions. The m tge. is a first lien on 283
miles of road, & c., and a blanket Hen on rest of property, and Is further se
cured by deposit of $2,53 0 ,0 0 0 Des Moines & F t. Dodge com . stock. V . 68,
p. 187, 332; V . 79. p. 2147: V . 80, p. 2220. See application to list, V . 09,
p. 32.
The $5,000,000 5 % notes of 1906, the proceeds of which will be used for
the construction of about 230 miles o f road from W atertow n, S. D ., westerly.
They will be secured by the $6,250,000 Minn. D akota & Pacific 1st gold 4s
and the latter’s entire stock. V . 82, p. 392, 692, 1102; V . 83, p. 38, 1114.
The $ 3 ,072,000 Des Moines & Ft. Dodge 4 % bonds dated Jan. 1 1905
are guaranteed, principal and Interest. V . 79, p. 1704, 2696.
E A R N I N G S .— 2 m o s .,11907___________ Gross, $708 ,82 3; net, $239,227
July 1 to A u g. 31.
j l 9 0 6 ___________ Gross,
666,514 , net,
272,856
A N N U A L R E P O R T .— Annual meeting lirst Tuesday in October.
Re
port for 1905-06 was in V . 8 3 . p. 1091, 1113.
Year ending June 30—
1906 07.
1905-06.
1904-05.
1903 04.
A ver, miles operated____
867
799
720
642
Passengers............... .............. $1 ,010,202
$1,00 1 ,5 4 8
$897,311
$825,830
Freight____________________ 2 ,6 8 t .3 5 i
2 ,550,563
2 ,021,993
1,878,078
M all, express, & c...............
182.115
174,554
157,452
146,677
Gross earnings............... .$ 3 ,8 7 3 ,6 6 8
N e to v e r ta x e s ....................$ 1 ,3 1 6 ,5 3 6
292,943
Other in c o m e .......................
$3,726,665
$ 1 ,417,468
259,732
$3,076,756
$1,130,381
236,075
$2,850,565
$1,049,263
275,248
Total net Income.............$ 1 ,609,478
$ 1 ,677,200 $1,366,456
$1,324,511
Interest p a i d .. .................... $ 1 ,105,388
$1,095,932 $1,020,376
$931,447
R e n t a ls ___________________
66.257
66,522
61,737
56,045
Net earns D . M . & F t. D .
100,918 98,716
_____________
_______
M iscellaneous____________
22,491
_______
26,848
38,942
D iv. on pref. stock_______ (5)200,000
(5)200,000 (5)200,000
(5)200,000
D iv . on com . stock_______
_______
_______
_______ ( 2 ^ )1 5 0 ,0 0 0
Balance, surp. for year. $114,434
$216,030
$57,495 d ef.$52,922
O F F IC E R S .— Pres., Edwin H aw ley, N . Y . ; V .- P ., L . F. D ay; Sec., Jos.
Gaskell, Minneapolis; Treas., F. H . D avis, 25 Broad S t ., New York.
Directors— E. H aw ley, H . E . Huntington, James N . W allace, F. E .
Palmer, F. H . D avis, John E . Searles, Frank Trum bull, New York; L . C.
W eir, N . Y . : L . F. D ay, Minneapolis.— (V . 85, p. 793.)
M IN N E A P O L IS ST. PA U L & SA U L T STE. M A R IE R Y .— Owns main
line from Sault Ste. Marie. M ich., via Minneapolis to Portal, North D akota,
at the International boundary line, there connecting with the Canadian P a c.,
1.039 miles; branches^ Hanklnson, N . D ., to Garrison, 292 m .; Glenwood,
M inn., to Emerson, 265 miles; Thief River Falls, M inn., to K enm are, N . D .,
296 miles: W lsliek, N . D ., to Pollock, 70 m .; other branches, 282 m .; spurs,
19 m .: total, July 1907, 2,263 miles: also trackage to Minneapolis. St. Paul
(being replaced by line owned. V . 83, p. 38) and Sault Ste M an e, 19 miles.
In N o v . 1904 extension from Glenwood, M inn., north to W innipeg, 330
m iles, Included above, was completed. V . 77, p. 765. In Dec. 1905 branch
Thief River Falls, M inn., to K enm are, N . D ., 296 m .: was opened.
E x ten
sions from Flaxton, N . D ., westerly to Am brose, 51 miles; from D rake,
N . D ., to Plaza, 84 m .; and of the Garrison line to M ax, 14 m ..w e r e com
pleted late in 1906. V . 8 3 . p. 750.
In M ch. 1907 contract was let for ex
tension from main line near Brooten, M inn., northeast to D uluth, about 200
miles, about one-half to b® completed in 1907.
V . 84, p. 693.
H I S T O R Y .— A consolidation in 1888 of Minn. Sault Ste. Marie <Sc A t l.,
Minn. & P a c., &c
See V . 46, p. 538, 609; V . 7 7 , p. 628.
I
S T O C K .— Canadian Pacific on July 1 1907 owned $ 7 ,066,600 com mon
and $ 3 ,533,400 preferred. Preferred stock lias a prior right to 7 % (noncu m .); then common to 7 % ; then share pro rata.
V . 75, p. 549. Stock
holders voted Sept. 17 1907 to increase the authorized stock from $ 1 4 ,0 0 0 .000 to $28,000 ,000 common and from $7,00 0 ,0 0 0 to $ 1 4,000 ,000 preferred.
Stockholders of record Sept. 28 1907 are offered the right until O ct. 31 t o
subscribe pro rata at par for $ 1 ,400,000 pref. and $ 2 ,800,000 com mon stock,
payable 20 % on subscription, 20 % Dec. 2 1907 and 20 % each Feb. 3, April 1
and June 1 1908, raising the amount outstanding to $8,40 0 ,0 0 0 pref. and
$16,800 ,000 com m on stock.
V . 85, p. 160, 722, 793.
1907.
1906.
D I V I D E N D S ........................ .1 9 0 3 .
1904.
1905.
Preferred (per cen t)__________ 7
7
7
7
4
Common (per cent)___________
2
4
4
B O N D S .— Can. Pac guarantees by endorsement 4 y{i Int. on ail tfye bonds
assenting to a reduction of Int. to t % . (See V . 50, p. 784; V . 5 1 , p. 239.>
About one-half Minn. & Pac. bonds and practically all other Issues assented.
Abstract of M inneapolis Sault Ste. M arie & Atlantic mtge. In V . 45, p.
243.
The consol, mortgage of 1888, abstract V . 47, p. 142), was for $ 21,000,000 on 800 miles (sufficient of this reserved to retire prior bonds) and for
$20,000 per mile on all additions. V . 73, p. 185; V . 7 8 , p. 820; V . 7 9 , p.
1332: V . 8 0 . p. 651. A s to 2d 4s, see V . 68, p. 6 6 9 ,7 7 1 , 977; V . 71, p. 645.
L A T E S T E A R N I N G S .— f 1907............. Gross, $2 ,1 1 6 ,8 2 5 ; net, $ 7 7 4 ,6 9 £
2 m os., July 1 to Aug. 3 1 .1 1 0 0 6 _______Gross, 2 ,1 3 8 ,7 8 9 ; net, 1,029,62;-'.
R E P O R T .— Report for year ending June 30 1907 was In V . 85, p. 919.
Year—
Gross.
Net.
Int. .taxes,&c. E quip. ,<fec. Bal.,sur
1906-07
.$ 1 2 892,079 $ 5 ,458,530 $ 2 ,849,845
$800 ,00 0 $ l,8 0 8 .6 8 f.
1 9 0 5 -0 6 .. ._
. 11,574.462
5 ,789,902
2 ,522,216
1,050.000
2 ,2 1 7 .6 8 6
Dividends of 7 % on preferred call for $484,687 yearly and of 4 % on com
mon $554,012 yearly.— (V . 85, p. 160 722, 793, 919.)
M IN N ESO TA T R A N S FE R R Y .— Union road, owning 13.54 miles, e x
tending from Junction with Chic. Mil. & St. Paul at Merriam Park to Frldley (with stock yards, & c.); side tracks, 45.72 miles; total, 59.26 miles. V .
6 7 , p. 956. Stock, $ 7 0 ,0 0 0 , equally owned by Chic. Milw, & St. Paul, N or.
P a c., Chic. St. Paul Minn. & Om aha, Minn. <5e S t. Louis, Wisconsin C en t.,
Chic. Burl. & Quincy, Great N orth., Chic. G t. W e s t., Minn. S t. Paul Ac
Sault Ste. Marie and CUlc. Rock Island & Pacific.
Additional bonds can be Issued tor property and Improvements as re
quired. Principal only Is payable In gold. M tge. trustee, Northwestern
Trust C o., St. Paul, Minn.— (V . 66, p. 1238; V . 6 7 , p. 956.)
M ISSISSIPP I A R K A N S A S & W E STE R N R Y .— Owns from a point In
Drew County, A r k ., to Gaines Landing, on the Mississippi River In Chico.)
County, A r k ., 22 miles. Stock authorized, $220 ,0 0 0 .
Year ending June 3 0
1904, gross, $25,389 .
Pres., A . P. Bliss, Saginaw, M ich.; Sec. and G en .
M gr., A . F. Cook, Little Rock, A r k .— (V . 75 p. 442.)
M ISSISSIP P I C EN TR AL RR.— Owns Hattiesburg, M iss., to BrooUhaven, 84 miles, of which Sliver Creek to Brookhaven 29 m .. openec
June 1906. V . 81, p. 155.
Extension building from Hattiesburg to Scran
ton, 80 m. The Natchez & Eastern R y .. controlled by the same interests,
is building from Natchez, M iss., to Brookhaven, 66 miles. V . 85, p. 99,160
Stock, $1,500 ,0 0 0 .
Bonds (limited to $5,000,000) are issuable at $20,000 per m .; they are sub
ject to call In the order of numbers at par by a yearly sinking fund of $500
per mile of road covered, and as an entire Issue at 110. They are guaranteed
prin. and in t., by U. S. Lum ber Co. V . 81, p. 1849; V . 82, p. 161, 1048
Year ending June 30 1906, gross, $422 ,39 8; net. $213 ,80 4; Int. and taxes
$79,083 ; dividends (7 3^ % ), $112,449; other deductions, $ 3 3,459 ; bal.. dt-f.
$11,187 ; total surplus June 30 1907, $297,638.
Pres., F. L . Peck; Sec. and'
T reas., C. P. Davidson, Scranton, P a .— (V . 84, p. 1367; V . 85, p. 221.)
M ISSO U RI & IL L IN O IS B R IO O E & BELT R R .— Has bridge 2.100 feet
long across the Mississippi River at A lton , 111.; also 2 miles of road. Owned
by 10 of the 14 proprietary roads of the Terminal R R . Association of St.
Louis, viz.: Cleve. Cine. Chic. * St. L ., Louisville & Nashville, S t. L . Iroc.
M tn. & S o u th ., Balt & Ohio, Missouri P a c., W abash, Chic. Rock Island &
P a c., St. L . & San Fran., M o. K an. & T ex. and S t. L. Vandalla & TerreH aute (Penn. R R . system ). Incorporated In Aug. 1904 as successor of the
S t. Clair Madison & St. Louis Belt R R . V . 7 9 , p. 1642, 681. Stock, $2,500 000; outstanding, $110 ,00 0.
Pres.. A . J. Davidson; Treas. F. H . H am il
ton; Sec., G. L . Ball.
Office. Lincoln Trust B ld g., St. Louis.— (V . 80, p
711; V . 82, p. 1380.)
M ISSO U RI K A N S A S & T E X A S R Y .— R O A D .— Operate* a line w ltb
northern termini at St. Louis, Kansas C ity, Junction City and Hannibal
M o., extending southerly across the Indian Territory and the Texas cottor.
belt to tidewater at Galveston, on the Gulf of M exico, and to San A n to n io .
T e x ., and Shreveport, L a ., with branches.
- owned—
M ile s .
Operated— not owned.
M iles.
Road
W ichita Falls R y ____
a ift
Missouri K an. & Tex. R y
St. Louis to Red River, T e x ___629 Denison Bonham & N . O". R R ___ a24
Hannibal to Franklin Jet______104 Dal. Clcb. & Southwestern_______ alO
D ew ey, I. T ., to Bartlesville........... 4s
Branches to Paola and Parsons.
K a n .; Oklahoma City and
Austin, Tex., terminals________
2
Operated M n tly.
Guthrie, O . T ., and W ybark
and A toka, I. T ., & c...........-.0 2 1 St. Louis to Texas J u n c t i o n . .. . - 24.
Kansas City to Paola ___________4 $
M o. K an. & T . R y. o f Texas—
Red River to Houston. T e x — 548 W hltesboro to Ft. W o rth ________ 71
_________________________________
7
Denison to Henrietta............. — 112 loia to Plqua, K ansas___ ______ _
Other branches_________________ 476! Galveston Houston & H end _____a50
j Austin to San Marcos_____________ 2W
Total o w n e d __________________2,790
Total operated July 1 1 9 0 7 ..3 ,0 7 1
(a See this com pany.)
O R G A N IZ A T IO N A c .— Reorg. In 1890 without foreclosure. V . 4 9 .p .719
The $ 1 2 ,890 ,000 stock of the “ M. K . & T . Railway Co. of Texas” Is owned
(V . 54, p. 1047: V . 55, p. 298). M . K .*& Eastern was merged In 1897, K . C.
& Pac. Tn 1899, Sher. Sh. & So. In 1901 and Mo. K an. & Okla. R R . and
Texas & Okla. R R . In 1904. V . 74. p. 1038. 1140: V . 75. p. 608. 1086: V . 7fl,
p. 480, 1249: V . 7 8 , p. 2012. Cut-ofT to San Antonio opened July 190#
L A N D G R A N T .— Land grant In Indian Territory, 3,1 1 0 ,4 0 0 acres, su b Ject to Indian title. See V . 79, d . 903, 1281; V . 81, p. 668, 1042; c o m p 8 i*
91
RAILWAY STOCKS AND BONDS.
Oct.. 19II7.J
92
I N T E R E S T OR D I V I D E N D S .
R A IL R O A D S .
M iles Date
of
of
Road. Bonds.
F o r explanation of column headings, A c . , see notes
on first page of tables.
Minneapolis & St Louis— Common stock_________ Ce
Preferred stock (V 7 0 , v 1150) 5 % non-cum ____ Ce
First M Merrtam Junction to Albert Lea g o ld .F .c*
Iow a exten 1st M gold (Alb. Lea to Ft D odge)g.C e.c*
M ortgage on Southw exten gold ($12,000 p m) -C e.c*
Pacific extension first mortgage gold_________ Ce.c*
First consolidated M $ 5 ,282,000 gold_______ Ce.c*& r
First & ref M $25,000 ,000 gold ($18,000 p m )._ C e
Gold notes $ 5 ,000,000 sec by coll red par beg ’0 8 -Ce
Minn Dak & Pac 1st M $50 000,000 g red 105.Ce.c* &r
Minn St F^aul & S Ste Alarie— Com stock $28,000 ,000
Pref stock 7 % non-cum , to be $ 1 4 ,0 0 0 ,0 0 0 ____ —
Minn Sault Ste Marie & Atlantic 1st M g o ld ..C e .c *
Minneapolis & Pacific first mortgage__________Ce c*
Cons mortgage gold lnt guar (end) see te x t___ Ce.c*
Second mortgage $5,000,000 gold lnt guaranteed.Ce
Car trusts June 1907
MinnesotaTransfer— First m ortgage($824,000 are 4s) .c
Mississippi Arkansas & Western— 1st M gold____ AC
Miss Cent— 1st M $ 5 ,000,000 gold guar red (te x t).S .c *
Mo & III Br & Beit— St C M & St L B ,ls t M red g .S S t c*
Consolidated mortgage $ 2 ,000,000 authorized g o l d ..
Missouri Kansas & Texas— Common stock
Preferred stock 4 % non cum ulative_________________
First mortgage gold_______ __________________________ Ce
Second mortgage gold_______________ ______________Me
First extension mortgage gold $ 3 ,2 5 4 ,0 0 0 ____ Ce.c*
St Louis Dlv first refunding m ortgage_________ F.c*
Missouri Kansas & Eastern 1st M gold a ssu m e d ..C e
Second mortgage guaranteed being retired_______
Sh Sh & So 1st M ($20,000 p m) gold assum ed.Ce.c*
Kansas City & Pacific Is M gold assumed____ Ce.c*
M K & Okla 1st M $ 5 ,468,000 gold assu m ed -.C e.c*
Texas & Okla 1st M $ 2 ,347,000 gold assum ed.Ce.c*
First and refunding M $ 4 0 ,000 ,000 gold (see t e x t ) .F
General mortgage $ 2 0 ,000 ,000 gold sinking fund N c*
S W C & Imp 1st M assumed sinking fd call at 1 2 5 . F
O f which held in treasury Jne 20 1907: b $813,000:
_
81
102
53
92
632
___
___
495
286
2,266
2,266
22
84
___
1,601
1,601
164
__
162
162
202
130
277
117
1877
1879
1880
1881
1894
1899
1906
1906
1886
1886
1888
1899
1886
1902
1905
1901
1904
1890
1890
1894
1901
1892
1892
1893
1890
1902
1903
1904
3,043 1906
__
1889
c $17 4,100
Size, or
Par
A mount
Value. Outstanding
Gross earnings............... $ 2 6 ,183 ,959 $21,159,145 $20,041 ,095 $17,766 ,595
Oper. exp . and t a x e s . . . 17,675,450
1 5 ,414,545
14,937,720
12,997,710
N e t, earn., inc. oth.inc.*$8.685,649 *$6,1 5 3 ,6 3 5 * $ 5 ,528,556
$5,085,608
Interest on bonds............. $ 4 ,524,839
$ 4 ,041,043
$ 3 ,864,718
$3,316,172
R entals. & C - - - ..................
478,499
459,505
396,647
703,068
Balance, surplus______$3,682,311
$ 1 ,653,087
$1,267,191
$1,066,368
D lv . on preferred______(4 % )5 2 0 ,0 0 0 (2 % )2 6 0 ,0 0 0
__________
$3,162,311
$1,39 3 ,0 8 7
$1,267,191
Rate
%
$100 c$6,000,000 See text.
100 d 4,000,000 5 in 1907
950,000
500 &c
7 g
1,015,000
1,000
7 g
1,000
636,000
7 g
1,382,000
1,000
6 g
1,000
5.282,000
5 g
1,000 bl041 3,000
4 g
5 ,000,000
5 g
1,000
See text
4 g
100 14,000,000 4 In 1907
7 ,000,000 7 in 1907
100
8,204,000
4 g
1,000
306,000
4 (5)
1,000
1,000 41,605,000
4 g
3,500,000
1,000
4 g
1,948,395
4 & 5
1,000
1,728,000
1.000
220,000
5 g
1,638,000
1,000
5 g
1,000
768,000
4 g
790,000
1,000
4 g
100 6 3 ,300,300
100 13,000,000 4 In 1907
4 g
500 &c 40,00 0 ,0 0 0
500 &c 20,000,000
4 g
3,254,000
1,000
5 g
1,000
1,922.000
4 g
4,000,000
1,000
5 g
66,000
1,000
5 g
1,000
1,689.000
5 g
2,500,000
1,000
4 g
5,468,000
1,000
5 g
1,000
2,347,000
5 g
5,182,000
1,000
4 g
1,000 10,000,000
4H g
968,000
•6
1 000
d $39,10 0.
M ISSO U R I K A N S A S & T E X A S R Y . (Concluded).
V . 67, p. 222; V . 5 5 , p. 937; V . 61, p. 1155; V . 7 7 . p. 2339; V . 8 2 , p. 1102;
V . 8 4 , p. 508, 1248: V . 8 5 , p . 7 36.
S T O C K .— Common Increased In 1904 b y $ 7 ,200,000 to $63 ,3 0 0 ,3 0 0 ;
preferred Is $13,0 0 0 ,0 0 0 4 % non-cum ulatlve.
Par of shares. $100.
D I V I D R N D S .— On preferred, 1906 and 1907, 4 % (M . & N .) .
B O N D S .— M . K . & T . 1st and 2d m tges. of 1890 (abstracts In V . 5 1 , p.
495) cover line from Hannibal, M o ., to a point 80 m . from Houston, T e x .,
941 m . (except 71 m . of trackage) and sundry branches, the total mileage
m ortgaged being 1,601 m .. Including the Sherman Shreveport & S o ., but see
below . These mtges. also cover the right to the land grant In Indian Ter.
The M issouri Kansas A Eastern bonds originally guaranteed were assumed
In June 1896, the road forming the St. Louis extension from Franklin, M o .,
to Texas Junction, M o ., 162 miles. See V . 63, p. 30.
O f the St. Louis
division 1st refunding bonds, $ 4 ,666,000 were reserved for the retirement
of both issues, the balance being for extensions and Improvements on the
division. V . 7 2 , p . 1034; V . 75. p. 608.
The Sherman Shreveport A Southern mortgage Is for $6,00 0 ,0 0 0 at $20,000
per mile; Issued, $ 3 ,6 8 9 ,0 0 0 , of which $ 2 ,000,000 pledged under M . K . &
T . m tge. of 1890. The bonds, formerly guaranteed, were assumed upon
consolidation In M ay 1901. V . 7 2 , p . 1034, 1115.
The Missouri Kansas & Oklahoma and Texas & Oklahoma bonds, issued at
1 20.000 per mile, guaranteed, have been assumed. V . 7 4 , p. 1038; V . 7 5 ,
p . 1 8 5 , 733; V . 7 7 , p. 252; V . 7 8 , p . 48; V . 79. p. 968.
O f the 1st and refunding 4s of 1904 ($40,000,000 authorized Issue) $ 1 2 ,037.000 is reserved to retire divisional mortgages at or before maturity;
balance unissued ($22,781,000) for future purposes. They are payable at
the option of the holder In sterling, marks or francs. V . 79 p. 9 68, 1281,
1332; V . 80, p. 2 22, 712; V . 81, p. 613; V . 8 2 , p . 987, 1497.
O f the issue of $20,000,000 gen. M . 4}4 % sink. fd. 30-year gold bonds,
stockholders were In 1906 offered the right to subscribe for the $ 1 0,000 ,000
present issue (which was underwritten) at $S75 per $1,000 bond, $ 4 ,000,000
equipment trusts being retired out of proceeds. V . 82, p. 218, 334, 692;
V . 8 4 , p. 1551; V . 85, p. 346, 654.
A s to M. K . & T . of Texas “ ftrst extension and general mortgage” for
$ 2 5 ,0 0 0 ,0 0 0 , contemplated In 1906, see V . 83. p. 435, 562; V . 82, p. 1269.
G U A R A N T I E S .— The Boonville Bridge 4s are guaranteed, principal and
Interest, and also as to sinking fund beginning 1911. V . 7 3 , p. 494.
The M . K . A T . of Texas mortgage secures $ 1 0 ,009 ,000 of bonds at
$20,000 per mile for extensions In T exas. They are guaranteed principal
and Interest. See above, and guaranty V . 56, p. 604.
The Southwestern Coal A Improvement C o .’s bonds are guaranteed. M ort
gage ($1,000,000) covers the coal on 51,000 acres In Indian Territory, and
the company also owns 2,350 acres additional, the Denison & W ashita R y .,
20 m iles, mines in active operation, &c.
L A T E S T E A R N I N G S .— For 2 months ending A u g. 31:
2 months—
Gross.
N et.
Charges.
B a l., sur.
1 9 0 7 ___________
$ 4 ,512,949
$ 1 ,825,333
$1 ,1 1 6 ,6 4 9
$708,683
1 9 0 6 _________________ 3 ,789,217
1,429,549
957,921
471,628
A N N U A L R E P O R T .— Annual meeting first Thursday after first M onday
In April.
Report 1906-07 was given at length In V . 85, p. 716. 735; edi
torial. p. 687.
Year ending June 30—
1907.
1906.
1905.
1904.
Average miles operated.
3,072
3,043
3,043
2,884
Passenger earnings_____ $ 6 ,2 7 8 ,6 0 8
$5,157,881
$ 4 ,935,592
$3,802,202
F r e ig h t ................................ 18,402,825
14.968,833
14,134,335
13,102,910
M ail, express, & c_______
1,5 0 2 ,5 2 6
1,032,431
971,168
861,484
$ 1 ,066,368
*$177 ,14 0 In 1907, $409,035 In 1906, $425,181 In 1905, $316 ,72 3 In 1904
O F F IC E R S .— Pres., Adrian H . Joline, New York; V .-P . and Gen. M gr.,
A . A . Allen, St. Louis; V .-P . and T reas., C. G. Hedge, New Y o rk; V .- P .,
C. Haile, St. Louis; S e c., C. N . W hitehead. 49 W all St.
Directors— Adrian H . Joline, Henry W . Poor, Chas. G. H edge, James
Brown Potter, James N . W allace, J. G. M etcalfe, New York; Myron T .
Herrick, Cleveland, O .; A . A . A llen , C. H alle, James Hagerman and R . W .
Maguire, S t. Louis, M o.; B. P. M cD onald, Alfred J. Poor, E . B . Stevens
and H . J. De Marez O yens, Am sterdam . H olland; and Alfred W . Smithers
Of London. E n g .— V . 85, p. 284, 346, 402, 654, 716, 735.
M ISSO U RI & NORTH A R K A N S A S R R .— Seligman, M o., at a connection
with St. Louis & San Francisco, to Leslie, A r k ., 1 2 8 H miles.
Extension is
proposed from Leslie to Helena, A r k ., 175 miles, of which 93 miles from
Leslie to Searcy was under construction July 1907: also from Seligman
northwest to Joplin, M o., 60 miles, of which 30 miles, which is owned,
was graded In July 1907 and remainder from Neosho to Joplin tc be
K ansas City Southern trackage; also 55 miles H elena, A r k ., to Cotton Plant
A r k ., completed Sept. 15
Successor per plan V . 82, p. 569 1269' V . 83,
p . 39, of the St. Louis & North Arkansas foreclosed May 29 1906.
Stock authorized, $25,000 per mile.
In A u g. 1906 a mortgage was filed
to secure an Issue of $11,5 0 0 ,0 0 0 50-year 4 % gold bonds (St. Louis-Unlon
Trust C o ., trustee) Issuable at $25,000 per mile.
Entire stock and bonds
are pledged to secure $6,00 0 ,0 0 0 5-year 5 % gold notes of the Allegheny
Im provem ent C o.. due Oct. 1 1911, but redeemable on any Interest day;
interest payable A . & O at St. Louis Union Trust C o ., trustee. V 8 5 . p. 99
For year ending June 30 1907, gross. $ 3 23 ,56 3; net, $ 5 3,657 ; other In
com e, $3,1 9 0 ; taxes, $13 268; bal., sur., $ 43,579 .
Chairman of Board,
D . Ic. Francis; Pres., John Scullln.— (V . 85, p. 99.)
M ISSO U R I O K L A H O M A & G ULF R Y .— Owns W agoner to D ustin, 75
miles; branch, 2 miles; total, 77 miles. Projected to extend from P itts
[Yol. lxxxv.
RAILWAY STOCKS AND BONDS.
When
Payable.
Where Payable and by
W hom.
Bonds— P rin ci
pal. When D u e.
Stocks— Last
Dividend.
J
J
J
J
J
A
M
M
F
F
A
A
J
J
J
J
&
&
&
&
&
&
&
&
&
&
&
&
&
&
&
&
J Central Trust Co, N Y
do
J
do
D
do
do
I)
do
do
D
do
do
O
do
do
N
do
do
S
do
do
A
do
do
A
do
do
O Minn office; checks mail'd
o
do
do
J Bank of Montreal, N Y
J
do
do
J
do
do
J
do
do
Jan 15 ’ 04 2 H %
J’ly 15 ’07 2 X %
June 1 1927
June 1 1909
Dec 1 1910
April 1 1021
N ov 1 1934
Mar 1 1949
Feb 1 1911
Feb 1 1956
Oct 15 ’07 2 %
Oct 15’07 3 ^ %
Jan 1 1926
Jan 1 1936
July 1 1938
Jan 1 1949
F
J
J
J
J
&
&
&
&
&
A
J
J
J
J
M
J
F
M
A
A
A
J
F
M
M
M
J
J
&
&
&
&
&
&
&
&
&
&
&
&
&
&
N New York
N ov 9 ’07 2 %
D Office, 49 W all St, N Y June 1 1990
do
A
do
June 1 1990
do
N
do
Nov 1 1944
do
O
do
April 1 2001
do
O
do
April 1 1942
do
April 1 1942
o
do
do
D
do
June 1 1943
do
Aug 1 1990
A
do
do
M ay 1 1942
N
do
do
Sept 1 1943
do
S
do
Sept 1 2004
S
do
Jan 1 1936
do
do
J
July 1 1929
do
J
do
1st N a t B k. St Paul,Minn Aug
Am er Tr & Sav B k, Chic Jan
H arvey, Fisk & Sons.N Y July
Jan
New York
Jan
1
1
1
1
1
1916
1922
1945
1951
1951
burg, K a n ., to Denison, T e x ., 300 miles, with branches, 57 miles. Stock
authorized, $ 1 0,000 ,000 ; par, $100.
Bonds ($10,000,000 authorized) see
table above.
President, W m . Keneflck; V .-P . and Treas., W . P. Dewar;
Sec , E . R . Jones. Office, Muskogee, I. T .— (V . 81, p. 1849.)
II) M ISSO U R I PACIFIC R Y .— (.See M a p .)— Operates an important sys
tem extending westerly and southwesterly from St. Louis, M o., Including
main lines from St. Louis to Om aha, N eb ., 494 m ., and from K an. City to
Pueblo, C ol., 624 m ., with m any branches in Kansas, &c. Through the St.
Louis Iron M t. & Southern, which it controls, connection Is had with Texas
and the lines of the T ex. & P a c., Internat. & G t. Northern and the S t. Louis
Southwestern, the whole forming what is known as the "G o u ld System "
(see V . 6 0 . p. 8 3 ). The M o. Pac. property Includes (July 1 1906).
Lines owned and controlled.
M iles. I Leased lines, A c . (Con.)
M iles.
494 |Other lines_______________________
39
St. Louis to O m aha____________
Other main line___________ ______ 975 Trackage to S t. Joseph, & c . .
21
Branches owned________________ 1,9191
Leased lines, A c .
---------Boonville S t. L . & Southern___
4 4 1 T o t.M o .P a c . and branch lin e s.3,492
Also owns all capital stock of Central Branch Union Pacific, & c., 388
miles; St. Louis iron Mountain & Southern and leased lines, 2,459 miles.
Grand total Missouri Pacific mileage July 30 1906, 6,339 miles.
Early In 1901 a large Interest was acquired In the Denver & Rio Grande
R R ., and so In the Rio Grande W estern R y ., extending the system as far
west as Ogden, U tah. The Gould and Rockefeller holdings in the Denver
& Rio Grande are together understood to constitute a large m ajority of
entire capital stock. See also "G eneral Finances.”
O R G A N I Z A T I O N , L E A S E S , & c.— The present com pany was a consoli
dation in August 1880, embracing the Missouri Pacific and minor roads.
Control of the International & Great Northern was secured In 1892.
S T O C K .— The amount outstanding on Dec. 31 1900 was $50 ,4 3 2 ,1 5 0 ;
this was Increased to $ 7 6 ,402 ,875 In 1901; In 1902 by $1,400 ,0 0 0 .
D I V S .— 1’82 ’83 to ’87 ’ 88 '89 ’ 90 ’91 ’92 to ’00 ’01
1902 to July 1907
P e r c e n t /6 K 7 yearly. 5 M 4
4
3
N one.
2H
5 yearly.
B O N D S .— The consolidated mortgage Is for $30,0 0 0 ,0 0 0 — trustees John F .
Dillon and Edward D . Adam s— the balance unissued Is In trust to redeem
prior bonds due if deemed best. Abstract in V . 4 7 , p. 287.
The collateral trust bonds due 1917 (Union Trust Com pany of New York,
trustee) are secured by mortgage bonds of new roads at $12,000 or $15,no«
per mile; these embracing the flue from Fort Scott, K a n ., to Pueblo. C o l..
&c.
For securities pledged, & c ., see V . 4 6 , p . 678.
Collateral trust bonds due in 1920, see V . 5 0 , p. 6 69, 874; collateral " u s t
notes due Feb. 1908, V . 8 2 , p. 100.
The 4s of 1905 ($50,000,000 authorized Issue) are to be secured b . ..n
equal am ount at par of Iron Mountain stock, the deposited stock »• bu
never less than a m ajority of the outstanding am ount, the M o. Pac. >< enantlng that It will not permit the creation by the Iron M t. Co. of any
having preference or priority as to dividends or otherwise over thf
pledged or the creation of any bonded debt of the Iron M t. Co <n a j . ■ o •
to Its bonded debt at present authorized, '’xcent to fund, f»x?*?nu r>r
ir
such present authorized bonded debt, or for nesv property at a fair vd.lii • not
exceeding cost. The remaining $ 2 5 ,000 ,000
reserved for extensions, im
provements and betterments. V . 80. p. 712
G E N E R A L F I N A N C E S .— In 1903 the Missouri Pacific R ailway Co. ac
quired $ 2 ,000,000 W abash R R . preferred stock and the S t. Louis & Iron M t.
$6 ,500,000 additional, the latter also owning $ 5 ,435,000 of the debenture B
bonds, which were exchanged for new bonds and stock under refunding
plan. See W abash R R . Syndicates In which the Goulds are Interested
nave purchased the Western Maryland and have completed a Hue connectln
the W abash with Pittsburgh and built easterly to a conn'c tion with the
Western Maryland and tidewater at Baltimore.
The G oula Interests are
also back of the Western Pacific R y ., building between Salt Lake City and
San Francisco. See V . 80, p. 1730. V . 79 p. 1023.
E A R N I N G S .— 12 m o s., J1 9 0 6 - 0 7 ..Gross, $ 4 8,703 ,336 ; net, $16,188,271
July 1 to June 30.
\ 1 9 0 5 -0 6 ..G ross. 44,5 6 6 .9 1 6 ; net, 14,284,415
A N N U A L R E P O R T .— Fiscal year changed to end June 30; year end
ing June 30 1907
In “ Chronicle” o ' O ct. 26 or N ov. 2. Annual
meeting Is held at St. Louis In Mch.
Re
r* for earns, of Missouri Pacific
system have been as below. "O th e r Income” In 1905-06 Includes- In t. on
T e x . & Pac. 2d m tge. Incomes. $1,1 8 3 ,4 0 0 ; Pacific Express C o., $144 ,00 0;
Cent. Br R y ., $1,0 6 1 ,9 0 0 ; D en.& Rio G r., $547 ,50 0; coal cos., $41 0 ,0 0 0 .
--------------Years ending June 30--------------1906-07.
1905-06.
1904-05.
Miles operated_________________________
____ ,
6.276
6,205
Total earnings_________________________ $ 48,703 ,343 $44,566,821 $ 4 1 ,067 ,282
N et earn in gs___________________________ 16,188,272
14.284,416
13,035,390
Other income, & c .------------------------------- 3 ,283,283
3,558,911
3 ,037,882
Total net i n c o m e .................. .............. $19,471 ,555 $17,843 ,327 $ 1 6 ,073 ,273
Interest and rentals___________________ $9,060,875 $8,936,792 $8,19 1 ,9 8 3
T a x e s . . .................... ......................................
1,483,949
1 ,457,924
1,388,344
Sundry accounts_______________________
1,228,628
1,119,596
1 , 0 6 0 ,7 6 8
Dividends____ _______ _____________(5 % ) 3 ,8 90,875(7 K ) 5,8 3 6 ,3 0 5 (5) 3 ,8 9 0 ,8 6 7
Balance, surplus..................— ................ $3,807,228
$492,710
$1,541,310
O F F IC E R S .— Pres.. George J. Gould; Sec. and Treas. A . H . Calef, 195
Broadway, New York.
,
Directors— George J. Gould, Stuyvesant Fish, Edwin Gould, Samuel
Sloan, J. J. Slocum , Howard G ould, Fred. T . G ates, Frank J. Gould and
James H . Sm ith, New York; Charles S. Clarke, O. L. Garrison, W . K .
B ixby, St. Louis, M o.; S. Davies W arfield, Baltim ore.— (V . 85. p. 1003.)
(2) M ISSO U RI PACIFIC SYSTEM — ST. LO U IS IRON M O U N TA IN &
SO U TH ER N R Y .— (See M a p .)— Owns S t. Louis to Texarkana, T e x ., Line.
490 miles: branches to B elm ont, M o., Bird’s P t ., M o. (Cairo), Cam den,
A r k ., Helena, A r k ., Cushman, A r k ., Arkansas C ity, A r k .. W arren, A r k .,
M em phis, T e n n ., & c.; Houston Central Arkansas & Northern R ailw ay, MoGehee, A r k ., to Alexandria, L a ., 191 m .: W hite River branch, Illinois Di
vision Memphis Helena & Louisiana East & W est. 111. R y -. 1,534■ m .; total
owned July 1 1906, 2,215 miles. Leases Little Rock Junction R R ; Kansas
& Ark. Valley R R . (acquired March 1906); St. Louis Southwestern R y .
and miscellaneous. 244-m lies. Total operated July 1 1906, 2,459 miles.
Holders of $23,668 000 of the $24,983 ,093 Texas & Pacific seconds e x -
O ct ., 1907. J
RAILWAY STOCKS AND BONDS.
93
94
RAILWAY STOCKS AND BONDS.
R A IL R O A D S .
F o r explanation of column headings, & c., see notes
on first page of tables.
M iles ' Date
Size, or
of \ of
\ Par
\ Amount
Road.[Bonds.
Value. Outstanding
Missouri K ansas & Texas— (Concluded)
Dallas A W aco 1st M 520,000 p m g_C e.c*l Guar pr
67 1890
$1,000
M K A T of Texas 1st M $20,000 pm_Ce.c* ^A later.
225 1892
1,000
Boonvllle Bridge 1st M gold sink fd -C e.c* j (e n d )___
. . . I 1901
1.000
Missouri &Nortb Arkansas— N otes, $ 6 ,000,000 g o l d - .
. . . 1906 .
Missouri Oklahoma & Gulf R.v— 1st M $ 1 0 ,0 0 0 ,0 0 0 -SSt
_ - - 1904 |.
Missouri Pacific— Stock ($100,000 ,000 authorized)___
100
Pacific R R of Mo 1st M extended In 1888 g o ld -.M e
283 j 1868
1,000
Second M ext In 1891 In gold St L to K C____ c*
283 1871
1,000
t • First M St Louis real estate ext In 1892 gold____
500 Ac
_ _ _ 1872
First M Carondelet Br gold guar pAl (end) ext ’93
13 1873 |
500
Third M ext In 1906, red lt»5(V 83,p 4 9 2 .1 3 4 8 .C *
296 1876 I
1,000
i Missouri Pac 1st M Lexington to Sedalia, M o, gold
551 1880
500 Ac
[
Consolidated mortgage $30,000 ,000 gold _______ c*
1 ,0 7 6 1 1880
1,000
Gold collateral trust__________________________U n.c*A r
1,120 1887 :
1,000
I First coll M bonds for $10,000 ,000 gold_______ Me.c*
6 7 1 | 1890
1,000
Mortgage $50,000 ,000 gold red at 102 J-S___ M e c * A r
_ _ _ 1905 i 500 Ac
Tw o-year collateral trust gold notes____________ Eq.c*
____ 1904
5.000
Ler & Caney Val 1st M gold guar (V 7 0 , p 1 0 9 5 ) ..c *
521 1886
1,000!
Verdigris Val Independence & W 1st M gold guar
8 1 1 1886
1.000
K C 4 N W 1st II pref " A ” gold Int rent red 1 05. Me
___| 1894
500 Ac
Equip A ss’n obligations $203,000 pay Sept 1 yearly
1902
1.000
do
do
Ser B gold $97,000 due Mar 1 yearly
___ I 1903
1,000
do
do
Ser C, gold $282,000 June 1 yearly.M e
—
1903
1,000
do
do
Ser D to F, gold $103,000 Dec 1 yearly
___ ! 1903
1,000
do
do
Ser G AH gold $143 ,00 0 June 1 yearly
___ 11905-6
1.000!
do
do
gold $77,000 yearly_______________M e.r
___ 1907 1 ,000 &c
Mo Pac equip bonds gold $335,000 M ay 1 yrly Kc* &r
...
1906 :
i ,ooo;
Mo Pac System— St Louis iron Mt & Southern Ry—
Gen con A 1 gr M ($45,000,000) g ________ Me c*
1.538 ’8 1 - ’ 87
1.000
do do
gold stamped guaranteed p & l__c* 1 , 5 3 8 ! ____
1.000
U nifying A refunding M gold $ 4 0 ,0 0 0 ,0 0 0 .M p .c * 1.538 1899
1.000
River A G Divs 1st M $50,000 ,000 gold_M e.c*A r
730; 1903 1,000 &c
Car trusts K to M , due June. Sept A Dec yearly
'9 5 - ’03
Car trusts Ser N to P $355,000 or $357,000 yearly
...
1903
1,000
Car trusts Ser R & S $297,000 or 299,000 y e a r ly -.!
I 1905
1,000
do
do
gold $366,000 y e a r ly .______Me.cAr
. . . i 1907
1,000
Little Rock Junct 1st M guar p A 1 by Ir M t . . Me c*
2 1891
1,000
Pine Bluff & W est 1st M gu p & 1 red 10 years 105
44 1903
1.000
MO. PAC. SY ST E M — ST .L O U IS IRON M T. & SO U TH ER N (Concluded.
changed their bonds for 6 5 % In new Iron Mountain gold 4s. See •‘ B onds’
below, also V . 68, p. 329, 380, 4 74. 520, 572, 6 19, 774.
The continuous low-grade line from St. Louis to New Orleans by connec
tion with the T ex. A Pac. R y . at C layton, L a ., Is nearing completion.
Branch from Springfield, M o., to Crane, 34 miles, was opened May 1907
and Is to be extended north to Bagnell, about 100 miles.
S T O C K .— Stock authorized, $130 ,00 0,00 0; outstanding, $ 4 4 ,3 0 7 ,3 7 3 , of
which $ 4 4 ,335 ,400 June 30 1906 owned by Missouri Pac.
See below.
D IV I D E N D .— In 1899. 2 % ; 1900. 0; ’01. 6; ’02 to '0 4 , 10 y'rly; 1905, 7;
fiscal year 1905-06, 14 % ; 1906 07, 10 % . V . 85, p. 222.
BONDS.*— General consol, mtge. is for $ 4 5 ,0 0 0 ,0 0 0 , Nos. 11,001 to 18,000
Inclusive are endorsed with the Missouri Pacific's guaranty of principal and
Interest; form of guaranty was in V . 5 6 , p. 650; they are a first lien on 1,538
miles. (V . 68, p. 8 5 , 233, 520; V . 7 8 , p. 7 04, 1224.)
The gold 4s of 1899 (first Issue $30,000,000) m ay be Increased not over
$ 1 0 ,0 0 0 ,0 0 0 , at $12,000 per mile, for construction or acquisition and equip
ment of branches and extensions. They are secured by a lien (subject only
to the general consols on all the railroads, terminals and eaulpment of the
company owned at the time of the making thereof and also a first and only
lien on all stocks and bonds formerly embraced In the trust of the gold fund
ing note Indenture, all leased and branch lines, or their bonds and stocks
acquired by the loan, and $23,668 ,000 Texas & Pacific seconds, future exten
sions, <Scc. (V . 68. p. 619: V . 70, p. 997; V . 74, p. 206; V . 78, p. 704, 1224.)
Tha River A Gulf Divisions 4s of 1903 (present Issue $20,000,000) will be
secured by a 1st lien on 677 miles of road built or under construction (see
above) and on terminal property at St. Louis, East St. Louis, Cairo and
Thebes, and 8,0 0 0 acres of coal lands in Illinois, and deposit of the bonds of
the Union R y. of Memphis. Additional bonds m ay be Issued up to a total
of $ 5 0 ,000 ,000 at not over $30,000 per mile of main line for new construc
tion, and $15,000 per mile of second track and branches, but not exceed
ing the actual cost, and for additional terminals, equipment, double tracks.
&c. V . 76, p. 543, 6 00, 1085; V . 7 7 , p. 1875, and application to list,
V . 7 7 , p. 2036, 2049; see also V . 80, p. 2459; V . 83, p. 436; V . 85, p. 222.
Pine Bluff A W estern guaranteed 5s of 1903 (American Central Trust Co.
of St. Louis, trustee), see V . 7 8 . p. 103; form , V . 78, p. 769.
E A R N IN G S .— For 11 months ending M ay 31 1907, gross, $ 2 2 ,051 ,994 ;
net, $8 ,3 3 7 ,9 6 6 ; other income, $1,4 9 3 ,3 0 9 ; charges, $5,1 5 6 ,0 4 9 ; balance,
surplus. $4 675,226.
R E P O R T .— Report for 1905-06 in V . 83, p. 903 9 64, showed;
Year ending --------Calendar
Year-------June 30 '06.
1904.
1903.
Gross earnings............................................. $21,209,777 $19,788 ,829 $19,575 ,350
Net earn ings............... .................................
7 .878,960
6,988,100
6 ,720,285
Other receipts ............... .............. ................
1,710,439
1,493,923
1,428,572
Total net incom e.......... ..................... .........
9 ,589,399
8,482,023
8 ,148,857
Interest on bonds_______________ ______
4,314,517
3,963,688
3,624,601
T axes, bridge e x p ., rentals, A c _______
1,145,110
1,197,365
1,056,512
Dividends_______ __________ __________ (14)4,114.588(10)2,578,831(10)2,578,831
Balance for year.......................................s u r .$ 1 5 ,1 8 4 sur.$742,139 sur.$888,913
— (V . 84, p. 627, 1053, 1368; V . 85, p. 222, 531.)
M ISSO U RI R IV E R & N O R TH W ESTE R N R Y .— Owns Rapid City to
M ystic, S. D ., 35 miles, opened Mch. 1906. A reorganization Apr. 1904 of
the Dakota Pacific R R .
The W yom ing W estern R R . was Incorporated in
1907 by the same interests, with $4,000,000 authorized stock ,to build from
M ystic, So. D a k ., west to Buffalo, W y o ., 200 miles. V . 85, p. 160.
On
Feb. 14 1907 V E. Crouch was appointed receiver on account of difficulties
among stockholders; all coupons had been paid. V 84, p. 508.
Stock,
$500 ,00 0 each of common and 4 % cum. pref. Par of shares, $100.
Bonds
are subject to call at 105 after June 1 1914. Cleveland Trust C o., trustee.
V . 81, p. 1610.
Pres., C. D . Crouch: Sec. and Treas., T . H . Saunders.
Office, Rapid City, S. D .— (V . 84. p. 508; V . 85, p. 160.)
M OBILE & B IR M IN G H AM R R .— (See M a p . Southern f ly .) — Mobile to
Marion J e t., A la ., with branches; 150 miles.
Leased to Southern R y.
from Mch. 1 1899 for 99 years, the latter agreeing to meet the Interest on
bonds and to guarantee a dividend on the $900,000 pref. stock of 1 % for
first year, 2 % for second year and 3 % for third year, and 4 % for the fourth
year and thereafter. The $900,000 common stock Is owned by Southern R y .,
and the voting power on the pref. Irrevocably assigned to Southern R y. dur
ing lease; V . 68. p. 4 29, 1134; V . 69. p. 391; V . 71. p. 1013. — (V . 72, p .137.)
M OBILE JA CK SO N & K A N S A S C IT Y R R .— (See M a p .)— Operates;
Road controlled—
M iU t.
Road owned—
M iles.
Mobile, Ala , to Decatur ...............106 Gulf A Chicago (leased 99 yrs.),
Decatur, M iss., to Middleton,
Beaumont, Miss., to Hattiesburg- 27
T e n n ____________________________ 203
Elllsvllle Jet. to Elllsvllie, M is s ..
6
Total main track o w n e d _____ 199
T o t a l _____________________________203
Total road owned and leased (100 miles 60-lb. and 302 m. 70-lb. steel) .402
S T O C K .— M ..T. A K . C . R R _____________ $4,000,000 com m on: par, $100
Gulf & Chicago R y .................. - 5 ,000,000
do
do 100
In July 1907 a syndicate consisting of L. S. Berg, who became President,
and New York capitalists, acquired control.
An extension on the north
and a New Orleans connection, It is understood, are contemplated. V 85,
p. 99, 160.
B O N D S .— M . J. A K .C . R R . $4,000,000 1st consol, m tge., covering 200
miles main track and valuable terminal property In Mobile Harbor: $30,000
of old 1st m tge. 5s still outstanding, for which an equal amount of consols
are reserved. The 1st consols are subject to call at 110. V . 7 7 , p. 822; V .
70 . p. 687; V . 7 8 . p. 48; V . 8 1 , p. 1315.
Gulf A Chicago R y. $5,000,000 1st m tge. 5s; the $4,00 0 ,0 0 0 Issued cover
203 m . of track.
Bonds guar. prin. A int. by M . J. & K . C. R R . Co. by end.
on each bond.
Both Issues limited to $20,000 per mile of main track
The $154,000 car trust 4 J^s of 1905 mature $14,000 quarterly to July
1910.
V. 81. p. 1550.
E A R N IN G S .— From July 1 1906 to June 28 1907, gross, $ 1 ,5 2 4 ,6 6 4 .
against $ 1 ,056,236 In 1905 06.
R E P O R T .— For year ending June 30 1906, In V . 84, p. 9 9 , showed (362
average m iles): Gross, $ 1 ,083,692; net. $310 ,04 5; charges, taxes, A c ..
$ 2 8 1 ,0 1 8 - b a l., stir., $29,027 .
In 1904-05 (259 av. m iles), gross, $677 ,52 8.
V ol.
lxxxy.
IN T E R E S T OR D IV ID E N D S .
f Bonds— Princi---------------------------------------- ipat. When D ue.
When
Where Payable, and by | Stocks— Last
Payable.
Whom.
Dividend.
Rate
%
$1,340,000
4.5 0 5 .0 0 0
1 000,000
See text
2.200.000
7 7 ,817,875 5
7 .000.000
2.573.000
800,000
237,500
3.819.000
650.000
14,904,000
14,376,000!
9 .636.000
25,000,000
6.000.000
520.000
806.000
1.026 000
1.015.000
485.000
1.692.000
769.000
1.144.000
693.000
3.350.000
5
5
4
5
4 g
5 g
5 g
4H
4 g
6 g
6 g
5 g
5 g
4 g
5 g
5 g
5 g
5 g
5 g
5 g
5 z
5 g
5 g
5 g
5 g
37,256,000
6 ,322,000
30,469,000
2 8 ,986,000
1,306,000
1.832.000
2.001.000
3 ,660,000
435.000
880.000
5
5
4
4
5
5
5
5
6
5
e
g
g
g
g
g
g
g
g
g
•
M
M
M
M
J
K
,r
M
A
M
K
M
M
F
M
F
J
M
J
&
A
A
N Office. 49 Wall S t. N S’ jN ov 1 1940
S
do
do
!Sept 1 1942
do
do
(Nov 1 1951
N
............. .... ................................. 1911
A \ __________________ _________ !N ov 1 1944
A
J 195 Broadway .New York J’ly 2 0 ’07 2 X %
A A Mercantile Trust Co. N Y jA u g 1 1938
July 1 1938
A
do
J
do
do
May 1 1938
A N
do
do
A O
1 1938
! Oct
do
A N
do
[July 1 1938
do
do
A A
;Aug 1 1920
do
do
A N
iNov 1 1920
do
do
A
'ja n
*1 1917
------S
do
do
A A
!Aug 1 1920
do
do
A S
;Mar t 1945
do
do
A A
IFeb 10 1908
do
do
A
do
'July 1 1926
J
do
,Mar 1 1926
A S
do
do
do
Jan 1 1933
A
J
i— M
do
(Sept 1908 1912
do
do
!— M
do
To Mar 1 1912
do
i— M
'To June 1913
do
do
'— M
do
To Dec 1914
do
M
do
;To June 1915
do
—M
do
iTo Dec 1916
. May ’08-'17
A & O
A & O
J
& J
M & N
Quarter
Q— M
Q— M
Q— M
A & O
A & O
do
do
April 1 1931
do
;April 1 1931
do
(July 1 1929
do
do
M a y 1 1933
do
do
To Dec 1912
do
do
Townsend W helen A Co T o June 1913
do
do
:To June 1914
Merc Tr Co, N Y & Phila.To June 1917
Mercantile Trust Co, N Y!April 1 1916
New York and St Louis Oct 1 1923
O F F IC E R S .— Pres., L . S. Berg, 5 Nassau S t ., N . Y . ; V .- P ., W . D .
Stratton; Sec. and Treas., Geo. W . Crary.
Directors— W . D. Stratton, A lex . M cD onald, E . K . Stallo, Charles E .
L e vy, R . W . Jones Jr., of New York; R . D . Scandrett of Pittsburgh; C. D .
W illou ghby, Gen. J. W . W h ilin g, M obile.— (V . 84, p. 749; V . 85, p. 99,160.)
M OBILE & OHIO R R .— (See M a p So. R y .) — Owns from Mobile, A la ., to
Columbus, K y ., 472 miles, proprietary line, Kentucky A Tennessee R R . to
East Cairo, 21 m .; branches to Columbus. M iss., A c ., 34 m .; Columbus, M iss.,
to M ontgom ery, A l a ., 167 m .; Mobile & Bay Shore Branch, 38 m .; with W a r
rior Branch, A c ., 23 m ., and Blocton Branch, 12 m .; total owned, 767 miles;
S t. Louis A Cairo (leased), Cairo to S t. Louis, 152 m .. with branch to Mlllstad t, 7 in .; total June 30 1907, 926 m .
Operated independently.
In 1907 the Southern R y . had acquired $8,u 97 ,000 of the $9,47 2 ,0 0 0 gen.
4s and $ 5 ,670,200 of the $6,07 0 ,6 0 0 stock, issuing, dollar for dollar, its coll.
trust 4 % gold bonds In exchange for the M . & O. gen 4s, secured by a pledge
of the latter and also stock trust certificates for stock, dividends being paya
ble (A . & O.) at 4 % In perpetuity thereafter.
D IV I D E N D S .— 1898 1 % : 1903, 2: June 1904. 2 % - 1905 6 % ; 1 906 ,
June, 3 % ; D ec., 2 H % ; 1907, June, 2 H % .
See paragraph above.
S T O C K .— Stock authorized, $10,0 0 0 ,0 0 0 ; outstanding, $ 6 ,0 7 0 ,6 0 0 ; par,
$100. The voting power on $4,98 4 ,2 0 0 of the stock is exercised by the gen.
m tge. bondholders by virtue of deposit of old debentures of 1879.
B O N D S .— Under the general mortgage of 1888 there can be no foreclosure
till four coupons are In default.
Mortgage abstract, V . 4 7 , p. 83. V . 60,
p. 967.
Interest on $4,00 0 ,0 0 0 St. Louis A Cairo 4s Is guaranteed. As to
Mont. D lv. 1st 5s, see application V . 66, p. 1045.
In April 1907 $1,299,000
5 % equipment notes dated O ct. 1 1907, guaranteed by American Car A
Foundry Co. were sold. V . 84, p. 996.
O f the $ 2 ,500,000 collateral trust 4s of 1900, $ 2 ,167,000 were Issuable in
exchange for the $6,50 0 ,0 0 0 St. Louis & Cairo stock. See V . 7 0 , p. 532. In
1907 $ 6 ,495,000 stock had been exchanged.
E A R N I N G S .— 2 m o s .,j 19 0 7............... Gross, $1 ,8 0 5 ,2 1 0 ; net. $503,451
July 1 to A u g. 31.
\1906-------------Gross,
1 ,6 5 6 ,4 9 2 ; net.
525,687
R E P O R T .— Report for 1905-06 in V . 83, p. 1166.
For 1906-07, gross.
$ 1 0 ,7 5 9 ,5 1 6 ; net, $ 3 ,116,431.
1906.
1905.
1904.
Year ending June 30—
1907.
926
926
Miles o p e r a te d __________
926
912
$7,739,706
$9,445,927
Total gross earnings____ $10,759 ,519
$8,267,601
2 ,339.795
2,900,493
2,616,716
Net earnings____________
3,116,432
2,462,826
N et, lncl. other incom e.
3,239,862
3,025,303
2,744,052
1,677,587
Interest and rentals____
1,905,969
1,815,485
1,754,725
Balance, surplus...........$ 1 ,333,893 $ 1 ,209,818
$989,327
$785,239
Dividends p a i d ............... (5)$301,030 (5 )$301,030 (4)$242,824 (2)$121.412
Equip. & new construc.
612,653
7 16,128
581,233
451,799
S u r p lu s ............................
$420,209
$192,660
$165,270
$212,027
— (V . 83, p. 1099, 1166; V . 8 4 , p. 52, 996.)
M O H A W K & M ALONE R R .— (See M aps N . Y . Central.)— Owns from
Herkimer, N . Y . , to Malone, with branches, 182 miles In all.
H I S T O R Y , L E A S E , & c.— New York Central owns the $5,000,000
stock, on which dividends of 4 % yearly are paid. In 1902 a new lease In per
petuity was made and $ 1 0 ,000 ,000 3*4 % consols authorized, of which $2 ,500,000 reserved to retire at maturity the first m tge. bonds and $ 3 ,600,000
for Improvements and enlargements.— (V . 7 4 , p. 6 30, 8 30, 937.)
"M O N O N .” — See C H IC A G O I N D IA N A P O L IS A L O U IS V IL L E R Y .
M O N O N G A H E LA R R .— Brownsville. P a ., to Redstone J e t., 35 miles,
connecting with the Pittsburgh & Lake Erie.and Pittsburgh-Virginia A
Charleston (Penn. syst. lines), which guarantee the bonds (see table above),
principal and Interest, by endorsement. Stock, $1,4 2 8 ,0 0 0 .
Penn. R R .
and Pittsburgh & Lake Erie each own $714,000 stock. V ear ending Dec. 31
1905, gross, 5710,783; net, lncl. other Income, $244 ,32 0; charges. $92,509 :
extraordinary expenditures, $101 ,05 5; b a l., su r., $50,757.
M O N O N G A H E LA R IV E R R R .— Road from Fairmont to Clarksburg, W .
V a .. 31 miles. Road opened in 1890. B. A O . owns all of the $ 1 ,3 0 0 ,0 0 *
stock (par $100 ), the coal bonds being reduced to $1,000 .0 0 0 . Car trust 0*.
principal June 30 1906, $159 .00 0.-— (V . 7 0 . p. 1092.)
M ONTANA R R .— Lom bard, M ont., to Lewistown, 157 tn. and br. 6 mile*.
In May 1906 the Chic. Mllw. & S t. P. acquired the road. V . 82, p. 1212.
Stock, authorized, $ 3 ,5 0 0 ,0 0 0 , all outstanding; par of shares. $100. Of
the $2,000,000 bonds issued on first 100 miles, $999,000 are stamped re
deemable at 105 and Int. on 6 m onths’ notice, the remaining $ 1 .001,000 beIng held by the Chicago Milwaukee Sc St. Paul. *(V. 8 2 r p. 1212.)
M ONTEREY FRESNO & EASTER N R Y .— V . 85, p. 40.
M ONTGOM ERY A ER IE R Y .— (See M a p Erie R R.) — Owns Montgomery
to Goshen, N. Y . , 10 miles. Leased In 1872 to Erie R R . (which see). Rental
Is $lff,000 per annum. Stock, $ 1 5 0 , 0 0 0 . Dividends ( 4 « % per an.) are
paid May 10 and N ov. 10. Sinking fund. $6,500 per annum. There are $ 4 0 ,500 2d m ort. 5s due O ct. 1 1927.
M O R E LIA & TA C A M R A R O R Y .— Projected from Irapuato. State of
Guanajuato M ex , on the Mexican Central R y ., south to Arlo, 225 miles.
Including 25 miles of side tracks, of which 55 miles from Guanajuato to
Puruandlro
was completed in 1906. The road will develop large
P'irtiv'developed agricultural, timber and mineral sections. Concessions
Include $4 800 Mexican currency per mile, exemption from Import duties
on construction material and from Federal and State taxation, excepting
stamp tax. for 15 years, etc. Stock, $ 6 ,000,000 all outstanding: par,, $50.
Bonds ($5,000,000 authorized, are Issuable at $22,222 per mile: $1 •20 0 -0 '?.0
were underwritten for first 55 miles. V . 81, p . 726; V . 83. p. 562.
FInanced bv \ J. Peyton A C o .. New York.
Pre«., Edson J. Chamberlain,
O ttawa: Gilbert E. Farquler, V .-P . and Gen. M gr.; Jacob L . Oreatslnrer.
*>d v -P.* C. I). Knapp J r., Sec.-T reas., I l l B ’w ay, N . Y . — (V . 83. p. do- .)
M O RG AN ’ S L O U IS IA N A A T E X A S RR. * ST E A M SH IP CO.— (See M a p
of Southern Pacific.)— R O A D .— Owns Algiers to C h e n e y vIHe. 205 mile*;
branches. 110 m .; trackage to Alexandria. 24 in.: total railroad lines. 339 m ..
steamship lines and ferries, 806 miles.
Extension from Lafayette to I.aton
Rouge, '.a ., 53 miles and 3 branches, aggregating 40 m iles, were under con
struction In June 1907.
RAILWAY STOCKS AND BONDS.
1907.J
ct.
O
96
RAILWAY STOCKS AND BONDS
[V o l. lx x x v
O ct ., 1907.]
RAILWAY STOCKS AND BONDS
NEW YORK CENTRAL LINES
97
u*
RAILWAY STOCKS AND BONDS.
R A IL R O A D S .
IN T E R E S T OR D I V I D E N D S .
F or explanation of column headings, & c., see notes
on first page of tables.
Mo River & North w— 1st M gold 51.00 0 ,0 0 0 red (text)
Mobile & Birmingham RR— Pref Stock (5 9 0 0 ,0 0 0 )____
Prior lien gold 5600,000 ________________________ Ce.c
First mortgage 5 1 ,2 0 0 .0 0 0 _________________ _____ Me.c
Mobile Jack & K C— 1st cons M 5 4 ,000,000 gold.C e.c*
Gulf & C 1st M 5 5 ,000,000 gold guar red 110 . . T a c*
Mobile & Ohio— S to c k . . . . _______ __________________
First M Mobile to Columbus (principal g o ld )____ F.c*
First M exten Columbus to Cairo & branch g o ld .F .c
General mortgage for 510,500 ,000 (now gold) s f.F .c*
M ontgomery D lv 1st M 5 4 ,000,000 gold ____ Ce.c*
Collateral trust gold (52,500,000) call at par___ G.c*
St Louis & Cairo first mortgage gold interest g u a r ..c
Mobile & B Sh 1st M 5200,000 assumed g o ld ..F .c *
Equipm ent bonds (m ostly 6s) . . _______ ________
Equipment trusts “ A ” & “ B ” 5500,000 each sink fd
do
do
Series A C F ________________
do
do
Series “ C” due sem i-annually.N
do
do
Series “ D ” gold 534,000 due s-a
do
do
Series E , gold 546,000 due s-a. G
Equip notes 5 1 ,299,000 guar due part sem i-an.M S t.c
Joint equipment, notes (59,500 due semi-annually) . .
Equipment notes Baldwin Locom otive W o rk s-------Moh & Mai— 1st M 515,000 p m g gu p & 1 (end). . K .c*
Consolidated mortgage 510,000 ,000 gold ___ G.c*& r
Monongahela RR— 1st M 51,500,000 joint guaranty
Monongahela River RR— Bonds— -See B & O R R .
Montana RR— First mortgage gold 5 2 ,0 0 0 ,0 0 0 ..Ce.c*
Montgomery & Erie Ry— 1st M (old 7s extended In ’ 86)
Morelia & Tacambaro— 1st M gold (see text) . _ UsmC*
Morgan’ s La & Texas— 1st M (New Orl to Morg C) .F.c*
First mortgage Alexandria Extension gold_______ F
General m ortgage_______ . _
_______ ______________ F
Morris & Essex— Stock 7 % guaranteed D L & W ____
First mortgage
_ ________________ - . . —
-B a
Cons M (for 525,000,000) guar D L & W ___ U s.c*& r
First ref M gold 535,000 ,000 guar p & 1 (en d ).F .c*& r
Special real estate bonds_______________________________
Morris & Essex Extension stock guaranteed 4 % ___ _
M iles Date
of
of
Road. Bonds.
150
150
200
203
472
55
506
189
161
38
___
___
___
___
182
_
35
1904
51,000
100
1895 " 200, 1000
1895 200 ,1 0 0 0
1903
1,000
1903
1,000
100
1879
500 &c
1883
1,000
1888
500 &c
1897
1,000
1900
1,000
500 &c
1886
1899
500 &c
1898
1,000
1 000
1899
1901-5
1904 ' " i ' , 6 6 o
1905
1,000
1906
1,000
1907
1,000
1902
1,000
1907
1892
1,000
1902 1,000 &c
1902
100
__
55
102
157
204
1900
1866
1903
1878
1880
1893
85
119
119
1864
1875
1900
V a r.
-------
~2
Size, or
Par
Amount
Value. Outstanding
1,000
1,000
1,000
1,000
1,000
1,000
50
250 &c
1,000
1,000
_
100
O R G A N I Z A T I O N .— -The Southern Pacific Co. owns all of the $1.5,000,000
sto ck , but road operated Independently.
Dividend, 6 % , paid in 1905-06
in year ending June 30 1906, gross, 5 5 ,161,954; net, including other In
com e, 5 1 ,833,570; surplus over charges, 5 1 ,1 7 8 ,4 7 5 .— (V . 7 6 , p. 543.)
M O RR IS & ESSE X R R .— (See M a p of Delaware Lackawanna & Western.)
— Owns from H oboken, N . J ., to Phillips burg, N . J ., 85 miles; branch
Denville. N . J ., via Morris & Essex Tunnel, to H oboken, N . J ., 35 miles;
leases 37 miles; total operated, 157 miles.
L E A S E D in perpetuity to Delaware Lackawanna & W estern, which
assumes all liabilities and guarantees 7 % per annum on stock.
B O N D S .— O f the 535,0 0 0 ,0 0 0 1st refunding 3J^s, 523,400 ,000 were re
served to retire existing bonds and 511,600 ,000 were applicable to additions.
V , 7 0 , p .4 8 0 , 477: V . 71, p. 1167. Guaranty, V . 7 4 . p. 1308.
E A R N IN G S .— Important to D . L , & W . with terminal facilities on N .Y .
H arbor, but the earnings show a deficit after paym ent of rental (Including
5 1 ,050,000 dividends), viz.: in 1906, 5S 91,845; in 1905. 5585 ,39 4; 1904,
$ 6 7 3 ,1 7 2 ; 1 9 0 3 ,5 4 4 9 ,1 2 1 ; 1902, 5 5 9 5 ,9 7 6 .— (V . 74, p , 1308; V . 82, p. 805.)
M O R R ISTO W N & E R IE R R .— Owns Morristown, N . J ., to W h lpp any,
4 m .; branches, 9M m .
A consolidation in A u g. 1903. Stock. 5400 ,00 0,
all outstanding; par of shares, 5100.
Bonds are subject to call for s. f. at
a n y time.
Year ending Dec. 31 1906. gross, 562,550: net, 524,1 6 8 . Pres.,
R . W . M cEwan, 11 Broadway. N . Y . — (V . 77, p. 511.)
MOUNT CARBON & PORT C ARBON R R .— Owns M t. Carbon to Port
Carbon. P a ., 3 m .; 2d track, 2 ^ m .; total track, 16 miles. Leased March 5
1860 for 50 years to Phlla. & Read. R R . and lease assumed in 1896 by
Phila. & R ead. Railway. R ental, 536,250 yearly.
M U SCA TIN E NORTH & SOUTH R Y .— Muscatine, Iow a, to Elrlck, on
owa C ent., 28 m ., with which It has traffic contract. V . 7 6 , p. 654.
In
corporated In March 1905 as successor of the railroad of same nam e, fore
closed on D ec. 15 1904. In A p r. 1907 details of new securities had not been
arranged. Stock, 5450,000; par, 5100.
Year 1905-06, gross, 5 60,698 ;
n e t, 5 3 ,2 2 0 .— (V . 7 9 , p. 2697, 2796; V . 80, p. 1059.)
M U SK E G O N G R A N D R A P ID S & IN D IA N A R R .— Owns road. Grand
Rapids to Muskegon, M ich., 37 m .; trackage, G. R . & Ind. at Grand Rapids,
3 miles. Operated by G. R . & Ind. R R ., which was foreclosed in 1896;
consideration, net earnings. Stock authorized, 5350,000; par, 5100; Issued,
51.0 0 0 .
Coupon of July 1906 paid in O ct. 1907.
Earns, for year ending
Dec. 31 1906, gross, 5161 ,15 1; net, 542,854; Interest on bonds, 5 37,500 ;
rentals, & c., 56.029; b a l., d e f., 5675 .— (V . 82 p. 219; V . 83, p. 213, 1591.)
N A SH U A & L O W E L L R R .— Owns double track road from Lowell, M ass.,
to N ashua, N . H .. 15 miles. On O ct. 1 1880 leased for 99 years to Boston
& Lowell.
In 1887 lease was transferred to Boston & Maine, which pays
a rental of 573,000 ( 9 % on stock); in N ov. 1906 and N ov. 1907, H % extra
w as paid from accum ulated cash surplus.— (V. 83, p. 970; V . 85, p. 1005.)
N A S H V IL L E C H A TT A N O O G A & ST. LO U IS R Y — (See M a p .)— Owns
from Chattanooga, T e n n ., to Hickm an, K y ., 320 m .; branches to Lebanon,
& c ., 519 m ; leases W estern & Atlantic, Chattanooga. T e n n ., to A tlanta,
G a ., 137 m .. and Memphis & Paducah Division of the L . & N ., 254 miles.
See V . 7 1 , p. 544, 664, 864. Total operated July 1 1907, 1.230 miles.
O R G A N I Z A T I O N .— A majority of the stock (57,177,600) is owned by
the Lou. & N ash ., of which 55,501,500 is pledged under Its unified m tge.,
e t c ., so that the systems are operated in harm ony. W e st. & A tl. is leased
from State of Georgia till Dec. 27 1919 at 5420 ,01 2 per annum.
D I V I D ’S .1'89 t o '92
'93 '94 ’95 to ’98 '99 to ’03
04 ’05 ’06
1907
since 1 8 8 8 ..J 5 yearly.
3J£
4 y ’rly.
N one.
4
5
5
6
B O N D S .— The Tracy City branch 6s fall due 520,000 yearly on Jan. 1 to
1916 Inclusive, and 5100,000 on Jan. 1 1917.
Consolidated m tge. o f 1888 provides that all prior bonds shall be paid off
a t m aturity; sufficient of the 520,000 p. m . are reserved for th e m .
In 1905
the rate on future Issues was reduced to 4 % . V . 81, p. 1044.
Jointly with Lou. & Nash, guarantees 5 2 .500,000 L . & N . Terminal Co.
bonds. See Lou. & Nash. V . 7 5 , p. 1354.
Guaranty of 521,000 Aetna
Iron, M fg ., Mining & Oil 6s. V . 7 7 , p. 2390.
L A T E S T EARJNSINGS.— Ju ly 1 to A u g. 31 (2 m onths);
2 M o s .—
Gross.
Net.
Interest, &c. Bal , Sur.
1 9 0 7 ........................................51,95 3 ,0 5 0
5439 ,05 6
5308,914
5130,142
420,675
298,938
121,737
1906 .......... ............................. 1,879,778
A N N U A L R E P O R T .— Report for 1906-07 was In V . 8 5 , p. 787.
1907.
1906.
1905.
Years ending June 30.
1904.
Mileage end of year______
1,226
1,226
1,230
1,201
Gross earnings________ .5 1 2 ,2 3 8 ,4 7 2 5 1 1 .120 ,982 5 1 0,113 ,057 510,206 ,022
2 ,766,069
2 ,560,407
N et earnings_________
2,508,310
2,6 2 4 ,9 9 2
18,455
18,400
Investm ents, & c_____
18,930
18,297
Net In co m e___________ 5 2 ,526,710
Interest on debt and tax 51.167.871
R e n t a ls __________________
626.460
M iscellaneous___________
26.000
D lv . on stock____________ (6)600.000
5 2 ,784,524
51,169,670
624,862
36,000
(5)500,000
52,579,337
5 1 .174,734
625,878
36,000
(5)500,000
52.643,289
51 ,183,286
625,878
66,000
(4)400,000
Balance, surplus______
5106,379
5453,992
5242,725
5368.126
P res., John W . Thom as Jr.; VIce-P res., H . F. Sm ith: Chairman of Board.
E . C. Lewis.— (V . 83, p. 8 1 5 ; V . 84, p. 103: V . 85, p. 40J, 787.)
N A S H V IL L E & D EC ATU R R R .— (See M a p I^ouisville & Nashville.) —
Owns from Nashville, T e n n ., to D ecatur, A la ., 119 miles.
Re-leased to
Lou. <fc Nash. In 1900 for 999 years, the rental being 7
% on stock. The
L ou. & Nash. July 1 1907 owned 5 1 ,979,600 of the stock.— (V . 7 0 , p. 1195.)
N A S H V IL L E T E R M IN A L R R .— Owns bridge across the Cumberland
River and 18 m . of track.
Leased for 99 years from May 1 1902 to Tenn.
Cent. R R ., which owns entire 51,000 000 stock.— (V 7 4 , p. 5 77. 830.)
N ATCH EZ & EA ST ER N R Y .— Under construction from N atchez, M iss.,
easterly to Brookhaven. 66 miles, to be completed during 1907.
Connects
a", Brookhaven with Mississippi Central, controlled by same Interests.
Bonds are guaranteed, principal and interest, b y United States Lum ber C o.;
r :iev are redeemable at par on Dec. 1 1908 or any Interest day thereafter
V . 85, p. 99, 160.
[V o l.
Rate
%
When
Payable.
Where Payable, and by
Whom.
lxxxv
.
Bonds— Princi
pal. When D u *.
Stocks— Last
Dividend.
5 e
J
& D Seab N at B k .N Y & C lev!june 1 1944
$700,000
900,000
4
J
& J J P Morg & C o ,N Y : &Lon July 1 1907 2 %
600.000
5 g
J
& J J P Morgan & Co, N Y July 1 1945
July 1 1945
do
do
1,200,000
4
J
& J
3 ,964.000
J
& J Trust Co. o f A m er, N Y Jan 1 1953
5 g
July
1 1953
J
See
text.
J
&
4,000,000
5 g
June24’0 7 2 M %
6 ,070,600 See text. See t e x t . Mobile
7,000,000
6
J
& D Farmers’ L & Tr Co, N Y Dec 1 1927
July 1 1927
do
do
1,000,000
6 g
Q - —Jan
9,471,555
M & S Gallatin N at Bank, N Y Sept 1 1938
4 g
Feb 1 1947
do
do
4",000,000
F & A:
5 g
Guar Trust Co, New York May 1 1930
2,497,000
4 g
Q F
4,000,000
& J Farmers’ L & Tr Co. N Y Jan 1 1931
J
4 g
M & N First N at B k, Mobile. Ala May 1 1949
200,000
5 g
31,000
Various Farmers’ L & Tr Co, N Y To 1908
5-6
1919
1 000.000
5
Various !
do
do
. . .
To 1908
701,635 4 to
5 Various 1
Sep ’07-M ar ’ 11
623,000
5
M & S Blair & Co, New York
__
J Guaranty Trust Co, N Y
4
&
539,000
J
Vch 'os Mar ’ 16
778.000
4 « g M & S Guar Tr Co, New York
A
& O Guar Tr Co, N Y or St L Apr '08-C ot ’ 14
See text.
5
Equitable Trust Co, N Y To June 15 1912
105,000
4
First National Bank,Mob T o 1909
264,189
5
Q— J
2,500,000
M & S Knickerbocker Tr C o ,N Y Sept 1 1991
4 g
3,900,000
3 H g M & S Grand Cent Station, N Y Mar 1 2002
Oct 1 1942
1 428,000
3 H g A 1 & O Philadelphia, Pa
See text.
130,000
1,200.000
5,000,000
1.494,000
1,000.000
15,000,000
5,000,000
11,677.000
12,600,000
1,800,000
221,000
5 g
5
5 g
7
6 g
5
7
7
7
3H g
4
J
M
J
A
J
J
J
M
J
J
J
M
&
&
&
&
&
&
&
&
&
&
&
&
July 1 1930
J Central Trust Co, N Y
May 1 1926
N Goshen, N Y
J U S Mort & Tr Co, N Y Jan 1 1943
O S P Co, 120 B ’w ay, N Y April 1 1918
July 1 1920
J
do
do
July 1 1913
J
do
do
J Del Lack & W estern,N Y July 1 ’ 07 3 H X
M ay 1 1914
N
do
do
D
do
do
iJune 1 1915
Dec 1 2000
D
do
do
1912
J
do
do
Ni
do
do
t.Vcv 1007 2 %
N A T IO N A L R A I L W A Y S O F M E X IC O .— To own or control the National
R R . of Mexico system (Including Mexican International and Interoceanic
of M exico), the Mexican Central, and probably other roads. The M ex. G ov.
will have control through an absolute m ajority of the entire stock (see V . 85,
p. 99, and item V . 84, p. 51, under M ex. Central R y .)
The new com pany
will have 5 150 ,00 0,00 0 authorized com m on, 560,000 ,000 lirst preferred 4 %
non -cu m ., and 5250,000 second pref. 5 % non-cum . pref stock 5462,000 000
pref. 50-year 4 H % . and 5372 ,00 0,00 0 general mortgage 70-year 4 % bonds
(all expressed in Mexican currency), the latter to be guaranteed, principal
and interest, by the M ex. G ov.
The pref mtge. bonds are to be redeemed
by a 6lnklng fund beginning in 1917 and all to be retired thereby, or other
wise. on or before 1957 (the com pany, it is stated, m ay make arrangements
for the “ refundm ent” of the bonds at a premium not exceeding 5 % ).
The
general mortgage bonds are to be redeemable at par, beginning in 1937 and
all to be redeemed by 1977.
Common and second pref. will be entitled
pro rata to all dividends over 4 % on first pref. and 5 % on second pref.
A syndicate will buy the bonds and offer them in exchange to the holders
of the present securities of the M ex. Cent, and N at. R R . of M ex.
Ladenburg, Thalmann & Co. and Speyer & Co. will have charge of the financing
of the consolidation.— (V . 83, p. 1470; V . 85, p 99.)
N A T IO N A L R R . OF M E X IC O .— (See M a p .)— Operates:
Standard Gauge— Owned.
M iles. | Narrow Gauge— Owned.
M iles.
Laredo to City of M exico_______ 8 0 2 1City of Mexico to Uruapan------- 313
55
Santiago to Tacuba (3-rail track)
3 1Acam baro to Gonzales--------------LeasedColonia to Tacuba (3-rail track)
Clntura line (3-rail track)______
3 Michoacan & Pacific R y .. Maravatio to Zitacuaro-----57
San Juan Jet. to Jaral__________
50
Vanegas to Matehuala__________
40
Total Incl. In earnings.............1,882
Rincon to Pozos______________ .
37
Controlled— Earnings separate (see
205
Monterey to M atamoros________
separate statement tor each).
O t h e r ____________________________
155
Mexican International R R ------- 911
Controlled— Secur. owned.
Interoceanic R y . of M exico____
736
Texas Mexican R y ., Corpus
Chrlstl to Laredo, T ex , etc. 1 6 2 1
Total standard gauge________ 1,305|
Grand total A p r. 1 1307 _____3 ,.'29
The Mexican International R R ., controlled by ownership of majority
of stock, extends from connection with the Southern Pacific at Eagle Pass.
T e x ., to Durango, M ex ., and to N at. R R . of Mex at Monterey, & c., 911 m .
In March 1906 the Hidalgo & Northeastern. 152 miles (narrow-gauge),
with branches, was acquired. V . 82. p. 7 51, 869, 1380; V . 83, p. 1120.
The National Co. acquired the £ 1 .0 3 8 ,4 0 0 Interoceanic R y. of .Mex 2nd
deb. stock, the latter, with preference and com. shares owned and since ac
quired, giving practical control, thus securing for the National a line from
Mexico to Vera Cruz and an outlet to the Gulf of M exico.
(See below.)
O R G A N IZ A T IO N .— Incorporated In Utah on Feb. 24 1902 as successor
without foreclosure of Mexican N a t. R R ., per plan in V . 7 3 . p. 784.
M E X IC A N G O V E R N M E N T , &c.— In June 1903 the Mexican Gov. pur
chased for 5 9 .000,000 about 4 7 % of the entire outstanding stock (see V . 76.
p. 1301; V . 7 7 . p. 451: V . 7 7 , p. 1225. 2159.
In Oct. 1907 consolidation of the National R R . of Mexico and M ex. Cent.
R y . as National R ys. of Mexico, above, under control of Mexican Govern
ment, was pending. V . 83, p. 1470’; V . 85, p. 99, 921.
S T O C K .— Com. stock was 533 .3 5 0 ,0 0 0 , and pref. (now 1ft pref.), 4 %
non-cum .. 5 3 2 ,0 0 0 .0 0 0 , all issued, of which 53.167 075 In treasury June 30
1906.
In O ct. 1903 the com. stock was mostly exchanged for new 5 % noncumulative 2nd pref. stock (total Issue to be 522,233 ,333 ) and deferred stock
(total Issue to be 511,116.666) at the rate of two shares of 2nd pref. and one
share of deferred for every three shares of com. stock, per plan V . 7 6 , p .
1192.
Outstanding, 1st p re f.. see above: 2 nd p re f., 5 2 2,031 ,600 ; deferred.
5 1 1 ,0 1 5 ,8 0 0 ; common, 5302 ,60 0; par o f shares, 5100 each.
First pref. to
get 4 % . then 2d pref. 5 % , then 2d. pref. and deferred share pro rata.
D I V I D E N D .— On first pref., 1 % , Aug. 1906; 1907. 2 % (F. & A .).
B O N D S .— The prior lUn bonds can be increased above 123,000 ,000 only
to refund. 5 for 5. Mexican Internat. R R . pr’ or lien bouds. now 55 8 5 0.000 .
The new Issues of bonds are secured by a l6t and 2 nd Hen respectively on
all the property of the company now owned or provided for under the re
adjustment and the El Salto extension when constructed, and also upon the
securities of the Texas Mexican R y ., and the consol, mtge. has also a 1st lien
on 515,786 ,100 of the 520,708 ,200 capital stock and all of the 5 4 ,499.000 In
comes of Mexican Internat. O f the 5 2 5 , 4 4 9 .0 0 0 consol3 Issued, 51,059,000
June 30 1906 were In treasury or pledged for gold notes of 1903.
O f the Mexican Internat. consol 4s, 56,50 1 ,0 0 0 are guaranteed, prin
cipal and Interest. See that com pany’s statement; also V . 7 5 , p. 77.
G E N E R A L F IN A N C E S .— In 1903 5 8 .500.000 5 % notes (extended In
1905 and 1907) (authorized Issue, 5 1 0 ,0 0 0 ,0 0 0 ), were sold to pay for control
of Interoc. R y . They are subject to call at par on 60 days notice; denomi
nations, 51,000 and 55,000 each. They are secured by deposit of €1 ,0 3 8 400
Interoc. R y . of Mex. 2nd deb. stock, £ 1 .2 5 1 ,8 3 0 ordinary and £ 1 0 2 .0 0 0 7 %
cum. pref.stock, 53,000.000 Mexican Internat. 1st consols (stamped guaran
teed) and 5 1 ,050,000 N at. R R . o IM e x . 1st consols. The remaining 5 1 .5 0 0 ,000 rotes m ay be Issued on deposit of additional security.
In Apr. 190#
final 5-1.000,000 prior lien bonds were sold to nav for the Hidalgo & North
eastern R R .
V . 82, p. 869, 1380; V . 85, p. 601. 722, 793.
E A R X I N G S .— 1 2 m o s .,)1 9 0 6 -0 7 ...G r o s s , 515,8 7 4 .6 6 6 ; net, 55,722,831
July 1 to June 30.
\ 1 9 0 5 -0 6 .. .Gross,
14,039,300; net, 5 .4 1 3 ,2 5 2
Above figures are In Mexican currency. See also V . 7 7 , p. 1225.
A N N U A L R E P O R T .— Fiscal year now ends June 80.
Report for 6 m os.
ending June SO 1906 (see below) was In V . 83, p. 1091. 1119; ed it., p. 1069.
Earnings for 6 months ending June 30 1906, gross (Mex. c u r.). 5 7 ,3 9 3 ,9 2 5 ,
against 56,1 1 0 ,3 4 6 ; net. 5 2 ,9 0 9 ,7 4 0 , against 5 1 ,967,556; net earnings (U . S.
c u r.), 51,4 5 4 ,8 7 0 ; other Income. 5195.747; total net Income. 51.6 4 9 .6 1 7 ;
Int., & c .. 5 1 .2 1 9 ,8 2 4 ; dlv. on pref. ( 1 % ) , 5288 ,32 9; b a l., sur.. 5141 .46 4.
Earnings for 6 months ending Dec. 31 1906, gross (M ex. c u r.). 5 7 ,3 7 9 ^
9 5 9 , against 5 3 ,6 4 5 ,3 7 5 In 1905; net. 5 2 ,6 8 6 ,8 9 8 , against S 2 .483,038: net
earnings ( f . S. cur ) , 5 1 ,3 4 6 ,1 1 4 ; other Income, 527,335; total netinccm e.
5 1 ,7 0 8 ,1 4 7 ; Interest, discount, &C., ? 1 ,259,310; b a l.. s w . ; <4-18,P..7.
1907.
RAILWAY STOCKS AND BONDS.
99
[Y o l.
RAILWAY STOCKS AND BONDS.
R A IL R O A D S .
For explanation of column headings, &c . , see notes
on first page of tables.
M iles
of
Date
of
Road. Bonds.
Size, or
Amount
Par
Value. Outstanding
$1,000
Morristown & Erie— 1st M $300,000 gold sinking fund
1903
50
Mt Carbon & Port Carbon RR— Stock (rental g u a r ) ..
1,000
_ 38 1905
Muni sing— First mortgage gold________ _________________
1,000
37 1886
Muskegon Grand Rapids & Indiana— 1st M g o ld_.C e
1,000
8.5 1896
Narragansett Pier RR— First mortgage $ 1 0 0 ,0 0 0 ____
100
15
Nashua & Lowell— Stock 9 % rental 92 years B & M
100
Nashville Chattanooga & St Louis— Stock____________
1,000
340 1873
First m ortgage (for $ 6 ,8 0 0 ,0 0 0 )________________ c*& r
1,000
125 1877
First M on Fayette and McM brs ($6,000 p m ) . .c * &r
1,000
29 1877
First mortgage on Lebanon Branch________ _______ c*
1,000
43 1883
First mortgage on Jasper Branch_______________ Ce.c*
1,000
46 1883
First mortgage on Centreville Branch g o ld ..C e .c * &r
1,000
20 1887
First mortgage on Tracy City Branch_________ c*& r
48 1881 . . . . ____
D uck R R R second mortgage (now first mortgage) g
1,000
803 1888
Cons M ($20,000,000) $20,000 p m gold____ Us.c*
25
Nashville & Decatur— Stock guar 7 H % by L & N ------119 ____
Nashvilie Florence & Sheffield— See Louisville & Nash vllle.
1,000
1902
Nashville Term— 1st M gold lnt rent red 1 0 5 --------1 000
1907
Natchez & Eastern— 1st M $1,70 0 ,0 0 0 g red __Ta.c*
100
National RR of Mexico— 1st pref stock (other see text)
500 &c
Prior lien M $23,000 ,000 gold call at 105____ Un.c*
1,443 ’ 1901
500 &c
1,663 1901
First consol M $60,000 ,000 gold (see t e x t )____ Ce.c*
___ 1903 1,000 &c
Collateral notes $10,000 ,000 g red (ext in 1907) —
Naugatuck— See New York New Haven & Hartford.
1,000
144 1899
Nevada-California-Oregon— First M $ 1 ,500,000 g o l d ..
1,000
94 1888
Nevada Central— 1st M gold non-cum inc (sink fd ).C e
1.000
Nevada County Narrow Gauge— First m ortgage____
22 hi 1896
New England— See New York New Haven & Hartford
New Haven & Northampton— See New York New Ha ven & H artfo rd.
1,000
5 1886 i
New Jersey Junction— 1st M guar 5 4 , 0 0 0 ,0 0 0 ..G.c&r
New Jersey & New York— See Erie R R Co .
1,000
26 1907
New Jersey & Pennsylvania— Temporary M 5200 ,00 0.
100
121
New London Northern— S t o c k .. .
________________
1,000
121 1880
Consol mortgage (now 1st M) (5688,000 are 4 s ) ..c *
35 1905 __________
W est River first mortgage guaranteed prln & i n t ..
100 1905 1,000 &c
New Orleans Great Northern— First M gold___ K .c*& r
100
196
New Orleans & North Eastern— Stock 5 6 ,0 0 0 ,0 0 0 ------1,000
196 1885
Prior lien mortgage gold_________________
..C e .c *
1 .0 0 0
196 1881
First mortgage gold-----------------------------------------------F.c*
E A R N IN G S Y E A R E N D . D E C .31.
1905.
1904.
1903.
Average miles o p era ted _______________
1,712
1,586
1,452
Gross earns. (Mexican currency)______$ 1 2 ,755 ,723 $11,569 ,248 511,344 ,019
N et earnings (Mexican cu rren cy )____
4,4 7 1 ,0 6 8
3,8 6 4 ,5 7 6
3,7 0 9 ,4 3 0
2,2 1 9 ,0 9 4
1,7 8 6 ,8 8 4
1 ,563,086
Net earnings (U . S. currency)________
IN T E R E S T OR D I V I D E N D S .
Rate
%
When
Payable.
M &
$250 000
5 g
12
282,350
J & J
A &
160,000
4 g
&
750,000
J
5 e
4
F &
70,000
800,000 See text. M &
10,000,000 6 In 1907 F &
6,300,000
&
7
J
&
750,000
6
J
&
300,000
6
J
&
371,000
J
6 g
&
376,000
J
6 g
&
279,000
6
J
M &
21,000
6 g
A &
7 ,608,000
5 g
J
&
3,553,750
7 hi
1,000,000
5 g
See text.
6 g
32,000,000 2 in 1907
23,000,000
4hi g
24,390,000
4 g
8,500,000
5 g
5 4 / , OOP
750,000
219,000
1,700,000
5 S
5 g
7
4
5
See text.
9
1,500,000
1,500,000
4 & 5
75.000
4
6,027,000
5 g
6 ,000,000 6 In 1907
1,320,000
6 g
100,000
6 g
s
Where Payable, and bv
Whom.
lxxxv.
Bonds— Princi
pal, When Due.
Stocks— Last
Dividend.
15
O
J
A
N
A
J
J
J
J
J
J
N
O
J
Brooklyn Trust Co, N Y Sept 1 1923
Reading Term inal, Phlla July 15 ’07 6 % Amer Trust Co, Clevel’d Oct 1 1925
July 1906 paid Oct 1907 July 1 1926
R I Hosp Tr Co, Prov Aug 1 1916
Indian H d Bank, Nashua N ov 1 *07 5 %
New York and Nashville A u g 1 '07 3 %
Hanover N at B ank, N Y July 1 1913
do
do
Jan 1 1917
Jan 1 1917
do
do
do
do
Jan 1 1923
do
do
Jan 1 1923
do
do
Jan 1908 to 19
do
do
Nov 1 1909
do
do
April 1 1928
Nashville
J’ly 1907 ZH reMercantile Tr Co. StLouis
New York
Office, 60 W all S t, N Y
Speyer & Co, New York
do
do
do
do
Jan 1
June 1
A u g 12
Oct 1
Oct 1
A pr 1
1932
1910
07, 1 %
1926
1951
1909
J
J
F
J
A
A
&
&
&
&
&
&
J
D
A
J
O
O
M
J
J
&
&
&
May 1 1919
N Moran Bros, New York
July 2 1938
J See text
J W ells, Fargo & Co, S Fr To 1924
F
&
A N Y Central & Hud RIv Feb
& D
Q— J
J
& J
J
& D
-F & A
Yearly.
A & O
& J
J
J
1 1986
June 1 1927
New London Office,
Oct 1907 2 hi Vo
Bank of North Am er, N Y July 1 1910
85 years
Fisk & Robinson, N Y
Aug 1 1955
New Orleans, La
Sept 3 1907 6 %
Central Trust Co, N Y
Nov 1 1915
Muller, Schall & C o .N Y Jan 1911
Yr. end. June 30—
Gross.
Net.
Oth.lnc. ln t.,& c.
Balance.
1 9 06 -07 _____ _______ $ 3,25 2 ,1 4 8
$805,362 $32,377
$400 ,09 0 $ 4 3 7 ,6 4 9
1905 -06..................
3 ,001,977
773.844
21,507
394,255
4 0 1 ,0 9 6
From surplus paid dividend of 6 % ($360,000) in
1906-07 against 5 %
($300,000) in 1905 -06 .— (V . 83, p. 1345, 1348; V . 85. p. 160, 722.)
N E W O R L EA N S T E R M IN A L CO.— Owns extensive terminal property at
IN C O M E A C C O U N T — (U N IT E D S T A T E S C U R R E N C Y .)
1905.
1904.
New Orleans and a belt railroad around the city, leased to the St. Louis &
1905 .
1904
Deduct—
$
$
San Francisco and Southern R y . for 99 years from July 1 1903, rental cover
$
$
48,868
24,563
ing all expenses of operations, maintenance and charges. Southern R y.
N et earnings. . . 2 , 219,094 1,786,884 Taxes & excti___
2 ,174,740 and St. Louis & San Francisco each own half of the $2,00 0 ,0 0 0 outstanding
In t.,d is& exch - 21,659
5,046 In t. on bonds___ 2,2 0 8 ,4 1 0
68,557
5 5,390
stock ($5,000,000 authorized), and jointly guarantee the bonds.
In April
In t. on b d s., &c_ 515,814
550,358 In t. on loans___
Texas-M exlcan
1907 $2,500,000 2-year 6 % notes, guaranteed by two lessor companies and
Gain on Mexican
R y . net earns.
32,319
secured by $4,000,000 bonds, were sold. V . 84, p. 9 96. P res., D . D .
m oney assets.
13,845
102,923
Curran.
See V . 7 8 , p. 3 43, 1447; V . 79, p . 1466; V . 81, p. 155; V . 83.
T o t a l . . . ...........2 ,770,412 2,445,211
T o t a l................. 2 ,358,154 2,373,591
p . 272; V . 8 4 , p . 5 08, 9 31, 9 96.
Surplus lor year_______________________________________: ------- 412.258
71,620
N E W Y O R K B R O O K L Y N & M A N H A T T A N BEACH R Y .— Owns from
D IR E C T O R S .— Cleveland H . D odge, Adrian Iselln J r., J. N . W allace,
Fresh Pond Junction to Manhattan Beach (Coney Island), and branches to
Gordon Macdonald, Joseph P. Cotton J r., L . F . Loree, Cayetano Rom ero,
Bay Ridge and Greenpolnt, 18 miles, of which 16 miles double track.
all of New York; Guillermo de Landa y Escandon, Julio M. Lim antour, E .N .
L E A S E , &c.— A consolidation A u g. 27 1885. Leased for 99 years from
Brown, Jose M. de Landero, Pablo M acedo, Santiago Mendez, M . M . R ey
O ct. 1 1885 to the Long Island R R . C o ., which owns m ajority of stock.
nolds. Roberto Nunez, all of City of Mexico.
Rental, Interest on bonds and 5 % on pref. stock. Common stock, $350 ,00 0.
O F F IC E R S .— Pres., E . N . Brown; V .- P ., D . P . Bennett; T reas., J. M.
L . I . R R . has attached to the bonds Its unconditional guaranty of princi
Frazier; C om p., M . M. Reynolds: Sec., A . Arriaga.
N . Y . office, 60 W all
pal and Interest In addition to facts as to lease.— (V . 83. p. 1348 ./
s t r e e t — V . 84, p . 339, 996; V . 85, p. 99, 6 01, 7 2 2 , 7 9 3 , 921.
N E W Y O R K CEN T. & H U D . R IV E R R R .— (See Maps. pp. 9 6 , 97.)
Operated under contract—
Lines owned.
M iles.
N E V A D A & C A L IF O R N IA R R .— V . 8 1 , p. 1242.
11
New York to Buffalo__________
441 Terminal R y . of B uffalo*____
N E V A D A -C A L IF O R N IA -O R E G O N R Y .— R eno, N e v ., to Madeline, C al..
St.
Lawrence & Adirondack*_
58
368
B
ra
n
ch
es_______________________
144 miles; extension proposed to Alturas, C al., 40 miles, of which Madeline
38
Proprietary lines___________
3 Cherry Tree & D lxonvllle____
to Likely, 20 miles, opened O ct. 1 1907, and 20m lles from Likely .to Alturas
T r a c k a g e _______________________
233
Lines leased. ( ’ See this co.)
to be built in spring of 1908. The Sierra Valleys R R ., Plumas to Mohawk,
W est S h o r e * ___________________
479
C al., 37 miles, is controlled, but operated independently. V . 7 9 , p. 2641.
Total In earnings____________ 3 ,784
6
Stock, com m on, $1,450 ,0 0 0 ; preferred, $75 0 ,0 0 0 , all out.
Dividend on Troy & Greenbush*___________
Spuyten D uyvil & P t. M .* ___
6
Controlled— Operated Separately.
preferred, A u g. 1906, 3 % ; A u g. 1907, 4 % .
New York & H arlem *________
137 Lake Shore & Mich. S o .* ______1,5 2 0
E A R N I N G S .— 2 m os., 11907____________ Gross, $66,958 ; net, $3 7 ,8 9 2
New Jersey Junction*________
5 Michigan Central*______________1,745
J u ly 1 to A u g. 31.
J1906____________ Gross,
4 9 ,7 2 4 ; net,
29,902
R om e W atertow n & O g d e n * ..
624 Lake Erie Alliance & W heel
i n g . . . ..........................................
Mohawk & M alone*___________
182
83
Report for year 1905-06 was in V . 83, p. 1345.
In 1906-07, gross,
Carthage & Adirondack*______
46 N . Y . Chic. & S t. Louis R R .*
523
$267 ,30 5; net, $148 ,10 8; other income, $17,157 ; Interest, taxes, & c.,
Gouverneur & O sw egatch le*..
13 Lake Erie & W estern *________ 1
5 4 5,125 ; renewal fund, $31,135 ; dividend on preferred ( 4 % ) , 530,000;
New York & P u tnam *________
59 Northern O hio*________________ ) 886
balance, surplus, $59,005 .
Pres., D . C. Moran, 68 W illiam Street, New
Boston & A lb a n y *____________
393 " B i g Four” Sy stem *..................2,334
Y o r k .— (V . 7 9 , p . 2 641 ; V . 81, p. 1607; V . 83, p. 1345.)
400
New York & O tta w a *________
128 Chicago Indiana & Southern*.
N E V A D A C E N TR A L R R .— Battle M tn ., N e v ., to Austin, N e v ., 94 m .,
241
Fall Brook R y ., & c .*__________
231 Cincinnati Northern*__________
narrow-gauge. Stock, 5750 ,00 0.
No interest paid on bonds by railroad
Dunkirk
All.
Val.
&
P
i
t
t
s
.
*
.
.
.
91
Beech
Creek
R
R
.*
____________
163
for m any years; 4 % was from earnings on hand June 30 1 9 0 6 . V . 83, p.
Beech Creek Extension R R .,
Pitts. & Lake Erie system *___
191
1291.
In N ov. 1906 the Nevada Central R y. was Incorporated In New Jer
Rutland
R
R
___________________
468
_________________________
128
e
t
c
.
*
sey with S750.000 stock to purchase the securities of the railroad; transac
W allkill V a ll e y ________________
33
tion not completed to Sept. 23 1907. V . 83, p. 1291.
Earnings for 1906Total owned and controlled Jan. 1907 (327 miles 4-tracked)______1 2,277
07 , g r o s s , 584,566 ; net, 530,349; taxes, 5 5,608; balance, 524,741; no
In July 1906 control of the Little Falls & Dolgeville R R .. 10 miles, was
Interest paid to Sept. 1907. Pres., J. G. Phelps-Stokes.— (V . 83, p. 1291.)
acquired. V . 8 3 , p. 272.
In Dec. 1906 the Chicago K alam azoo & Saginaw
N E V A D A C O U N TY N A R R O W -G A U G E R R .— Colfax to Nevada C ity,
R y ., Pavilion to W oodbury, M ich., 55 miles, was purchased.
V . 8 4 , p. 52.
C a l., 22 hi miles. Stock, 5250 ,20 0; par of shares, 5100 each. Dividend of 5 %
Also
controls
Lake
Erie
&
Pittsburgh R y ., completed from Lorain, O .,
(fourth since organization) was paid D ec. 1903; in 1904, M ch ., 5 % ; N o v .,
southeast
to
Berea,
13
miles,
and
to
be
extended
to
Cleveland
and
Youngs
5 % ; in 1905, S e p t., 5 % . Bonds are payable In annual Instalments increas
tow n, making about 120 miles in all. V . 8 3 , p. 1037
ing from $4,000 in 1902 to 520 000 In 1924.
Year 1905 gross, 5127,253;
H
I
S
T
O
R
Y
,
&
c.—
Control
of
the
Lake
Shore
and
Michigan
Central
roads
net, 540,018; interest, 515,750; Im provts., bonds redeemed, & c., 5 7,830;
was acqured In 1898, as stated below. Their earnings are reported sepa
dividends ( 5 % ) , 512,510 ; b a l., surplus, $3,9 2 8 .
Pres., M rs. S. A . K idder,
rately, but the dividends on their shares held by the Central are Included In
Grass Valley. Cal.— (V . 7 9 . p. 2796.)
the Item "o th er Income,” offset In part b y Interest on the collateral bonds
N E W JE R S E Y JUN CTIO N R R .— Terminal road through Jersey C ity,
1 sued for their purchase. V . 71, p . 502; V . 7 8 , p. 48.
Hoboken and W eehaw ken, about 5 miles. Leased for 100 years from June
In 1900 Vanderbilt Interests acquired a large block of C. & O . R y . stock.
30 1 8 8 6 to N . Y . Central, which guarantees the bonds absolutely and owns
V . 70 p . 7 6 , 1 25, 1049. H oldings of Vanderbilt estate, V . 7 1 , p . 1221.
$100 ,00 0 stock. Connects with National Docks R y .
N . Y . & Ottawa was acquired at foreclosure D ec. 1904 and In Jan. 1905
N E W JE R S E Y & N EW Y O R K R R .— See page 178.
control of the Rutland and S t. Lawrence & Adirondack. V . 7 9 , p . 2589
2648 , 2796; V . 8 0 , p. 222, 1240; V . 82, p . 934.
N E W JE R S E Y & P E N N S Y L V A N IA R R .— See page 178.
Since 1906 the subsidiary lines, with tne exception of the N .Y . Chicago
N E W LONDON NORTH ERN R R .— Owns from New London, C onn., via
& S t. Louis, are known as the “ New York Central” lines. V . 8 1 . p . 1792
Brattleboro, V t ., to South Londonderry, V t ., 158 miles.
Has an option until Dec. 31 1907 on the controlling interest in the N ew
L E A S E D for 99 years from Dec. 1 1891 to Central Verm ont. The rental Is York Ontario & Western stock held by the New York New Haven & H art
$213,552 per annum, which leaves a small surplus after providing for Inter
ford, v l/ . : $ 2 9,160 ,000 of the 5 5 8 .118 ,982 common and 52,200 of the
est, & c ., and 9 % dividends. Taxes and Improvements met by lessee, with
54,000 preferred stock. V . 84, p. 1428; V . 8 5 , p. 40.
out claim on New London Northern.
S T O C K .— Dividends on stock registered In London are payable In gold
D IV I D E N D S .— 1888 to April 1892, 7 % yearly, then 8 % yearly to 1893. at 4 9 hid. to dollar.
In 1902 $16,912 ,900 new stock was subscribed for by stockholders pro rata
and since to July 1907 (in cl.), 2 hi % quar. (9 % per a n .)— (V . 7 6 , p. 1301.)
at $125 per share. In Dec. 1905 $17,192 ,500 stock at par. V . 81, p. 14 93.
N E W O R L EA N S GREAT NORTHERN R R .— (See M a p .) — New Orleans,
Stockholders voted April 18 1906 to Increase the limit of authorized stock
L a ., to Jackson, M iss., 180 miles, with branches, making total of 290 miles,
from $ 1 50 ,00 0,00 0 to $ 250 ,00 0,00 0.
to be operated about Jan. 1 1908. Now completed Slidell, L a ., northward
Stockholders in 1906 subscribed at par for $29,8 3 9 ,5 6 0 new stock.the pro
on main line into Mississippi 100 miles; Pearl River to Folsom, L a ., 37 miles; ceeds to be used for Improvements, rolling stockand terminal Im provements
branch to M andeville, L a ., 12 miles; branch, Slidell to A blta Springs, L a .,
In
New Y o rk , raising the am ount outstanding to $178 ,6 3 2 ,0 0 0 . T h e
via Mandeville, 26 miles; branch via Frankllnton to Tylerton, M iss., 41
new stock will receive all dividends declared after Jan. 15 1907. V . 8 3 ,
miles; trackage, New Orleans to Slidell, L a ., 29 miles; total, 245 miles.
p. 6 88. 818, 1037.
Under construction, 45 miles. Stock, $ 3 ,510,900.
D I V I D E N D S .—
’9 3 . ’ 94. ’9 5 . '9 6 -9 8 . ’ 99. 1900 to 0 c t .’0 6 .
1907
O f first mortgage bonds ($10,000,000 authorized), $7,000,000 have been
Since 1 8 9 1 ...........%
5
5 4 hi 4 y ’rly 4 5 yearly (Q .-J .)
6
sold for construction. V . 81, p. 841.
B O N D S .— Ref. mortgage Is for $10 0 ,0 0 0 ,0 0 0 . of which $ 7 3,346 ,000 w as
O F F IC E R S .— P res., Charles W . Goodyear; 1st V .-P . and Gen Counsel, Issued to retire $70,377 ,000 old bonds and $11,654,000 for general purposes:
At. E . Olm sted; 2d V .-P . and S e c., C T. James; T reas., F . A . Lehr; Gen.
remainder ($15,000,000) is reserved for new construction. V . 7 7 , p. 452.
M g r., N . G. Pearsall. Directors: Messrs. G oodyear, Jam es, O lm sted,
Collateral trust 3 ^ s of 1898 are secured by deposit of stock of the Lake
Pearsall, James D . Lacey and E . H . Farrar.— (V . 84, p. 1367.)
Shore & Michigan Southern and Michigan Central R R s. at the rate of 5100
N E W O R L E A N S & NORTH EA STER N R R .— New Orleans, L a ., to Mer
of L . S. & M . S. stock for each 5200 of bonds and 5100 of Mich. Cent, stock
for each 5115 of bonds outstanding. The total authorized Issues of Shis
idian, M iss., 196 miles. Stock. $6,00 0 ,0 0 0 (par, $100 ), of which $5,320,000
are 5100 .00 0.00 0 for Lake Shore and $21,550 ,000 for Michigan Central.
and $4,055 000 gen 4 H s and $ 1 ,500,000 incomes were held in Jan. 1907 by
See V . 6 6 , p . 28S, 336, 760, 811.
A la . New Orleans Texas & Pac. Jet. R y .
Tn 1904 $50,000 ,000 4 % debentures were authorized, of which $ 3 0 ,0 0 0 .Reorganized In 1902 per plan In V . 74, p. 681
Dividend on stock 1903
000 were sold. They are to be secured by any new m tge., but existing
a n d 1904, 3 % each;
1905, 3 h i% ; 1 9 0 6 ,5 % ; 1907, S e p t., 6 % .
Of the
general 4 'As $1,47 2 ,0 0 0 are reserved fo retire the remaining prior lien bonds mtges. m ay be extended. V . 7 8 . p. 1907. 1962 2384; V . 7 9 . p. 1335, 2 148 .
and $ 1 ,046,000 for future requirements. Equipm ent notes of 1906, V . 82,
G U A R A N T I E S .— The com pany guarantees the securities of Its leased
p. 9 87.
\
lines to a considerable aggregate— see separate statem ent for each com pany
E A R N I N G S .— For 2hi m onths ending Sept. 7 1907, gross, $ 5 90 ,19 6,
marked with a * In the table of mileage preceding. It also guarantees
against $058,027 in 1906. Report for 1905-06, V . 83, p. 1345.
. . . .
W estern Transit Co. 3 his for $1,000,000 due February 1923
O c t ., 1907.]
RAILWAY STOCKS AND BONDS.
NEW ORLEANS GREAT NORTHERN
RAILROAD
.
101
IN T E R E S T OR D I V I D E N D S .
R A IL R O A D S .
F or explanation of column headings, & c., see notes
on first page of tables.
New Orl & N E— (Concl.) — Gen M $ 8 ,000,000 g - .F .c *
Income mortgage (non-cum) $1,500 000 g o ld .-N .r
Equipment notes gold due $39,000 sem i-a n n u ally ..
N e w Orl Term— 1st M $15,000 ,000 gold g u a r.S .c *& r
.N'otes guaranteed g old _____________ ______ _________l a
N Y Bklyn & Manhattan Beach— Pref stock non-cum .
First cons M (now 1st M) gold guar by L I ___ Ce.c*
N Y Cent & Hud River— Stock ($250,000,000 auth) Tr
Refunding mortgage $100,000,000 gold___ C e .c * i r
Coll trust gold ($100,000,000) Lake Shore stk. G.c* &r
do
do
($21,550,000) Mich Cent stock . Q
Debentures (V 69, p 1102; V 7 1 , p 502, 9 6 4 )_______
Debentures $50,000 ,000 gold________________ Us.c* &r
Notes $25,000 ,000 _______________________________c*&r
N Y Chicago & St I.— 2d pref stock (5 % non-cum) __
First preferred (5 % non-cum ulatlve)________________
First mortgage gold sinking fund not draw n.C e.c* &r
Equip trust “ B ” gold $23,000 d u eyrly Feb 15.Cec&r
Equipment notes $20 000 due semi-annually_______
Debenture bonds, S I0 ,0 0 0 ,0 0 0 , gold________ ______ G
N Y & Greenwood Lake— Prior lien M guar p <Sc l.N gxc*
N e w York & Harlem— Common 1 4 % , 10 % guaranteed
Preferred stock 14 % , 10 % guaranteed_______________
Refunding M (now flrst) $12,000 ,000 g o ld ..G .c * & r
N Y Lackawanna & Western— Stock guar 5 % (end. .
First mortgage guar by Del Lack & W estern ._F .c*
Construction mortgage guar by D L & W (end) .F .c *
Third M Term Imp ($5,000,000) guar p & i ( e n d ).-F
N e w York Lake Erie & Western— See Erie R R .
N Y S Long Br— Gen M (now 1st) $ 2 ,500,000 g . . Ce.c*
N e w York New Haven & Hartford— Stock (see text) -_
Deben (probable right to exchange; V 82, p 1 4 3 9 ).
Debenture ($5,000,000 are 4s) n on-convertible..c& r
Deb (for Cent N E & W ) s non-conv (V 78, p 768)
Debentures (for F H & W ) (V 78, p 2 3 3 5 ) ._________
Debentures (for N Y Ont & W est) (V 8 0 , p 2 4 5 8 ) ..
Debentures convertible (see t e x t)_______________ c*& r
M iles i Date
of ! of
Bonds.
196
196
1902
1902
1906
1903
1907
1885
1897
1898
1898
1900
1904
1907
53
146
146
136
214
214
214
214
38
1887
1896
1900
1906
1896
1897
1880
1883
1890
1891
1893
’97 - ’01
1904
1904
1905
1906
Size, or
Amount
Par
Value. Outstanding
When
Payable
Rate
%
Where Payable, and by
Whom.
lxxxy.
Bonds— P rinci
pal, When D ue.
Stocks— hast
Dividend.
$1,000 $5,482,000
& J Farmers’ L & Tr Co, N Y Jan 1 1952
4M g■J
July 1 1952
1,000
1,500,000 Up t0 4 H % g (If e arned) on Dec 1
Apr ’08-A p r '13
1,000
429,000
4M g■A & O IFranklin Tr Co, N Y
& J Standard Trust Co, N Y July 1 1953
1,000 &c 10,000.000
4 g
& O Trust Co of Am erica, N Y A p r 10 1909
1,000
2,500,000
6 g
O ct ’07 2 X %
100
650.000
5
& O Checks mailed.
U S Mort & Trust Co, N Y Oct 1 1935
1,000
1,726,000
5 g
Grand Cent Station, N Y Oct 1 5 ’07 1 X %
100 178,632 ,000 6 in 1907
Q— J
July 1 1997
do
do
1,000 &c 85,000,000'
& J
3H g J
“Feb
'
1 1998
1,000 &c 90,578,400
do
do
3H g F & A
do
do
Feb 1 1998
1,000 &c 19.336,445
3« g F & A
July 1 2000
1 bond
5,500,000
do
do
& J
3H g J
May 1 1934
1,000 &c 30,000 000
M & N
do
do
4 g
Feb 1 1910
F & A
do
do
1,000 &c 25,000,000
5
100 11,000,000 >{4 in 1907 March Grand Cent Station, N Y Mar 1 1907 4 %
Mar 1 1907 5 %
do
do
100
5,000,000 5 In 1907 March
Oct 1 1937
A & O Union Trust Co, N Y
1,000 19,397,000i
4 g
Yearly to 1911
F & A 15 Central Trust Co, N Y
1,000
96,000
5
J
& D National City Bank, N Y To Dec 31 1910
20.000
140,000
4H
May 1 1931
3,000,000
M & N New York
4 g
M & N I I Broadw ay. New York May 1 1946
100 &c
1,500,000
5 g
50
8,656,050 i See text. See text. Grand Cent Station, N Y Oct 1 1907 2 %
jOct 1 1907 2 %
do
50
1,343,950 See text. See text.
do
IMay 1 2000
do
do
1,000 &c 12.000,000
3X g M & N
100 10,000.000
5
Del Lack & W e st, N Y Oct 1 ’ 07 1 K %
Q— J
:Jan 1 1921
1,000 12,000,000
do
do
J
& J
6
,Aug 1 1923
F & A
1 000
5,000,000
5
do
do
'M ay 1 1923
1,000
5,000,000
4
M & N
do
do
& S Liberty N at Bank. N Y Sept 1 1941
1,000
1,891,000;
8 In 1906 Q— M 30 Co’s Office, New H aven'Septi30 1907 2 %
100 See tex t.
4
A
&
O Lincoln N at Bank, N Y!A p ril 1 1908
100 &c
66,100
S1
do
do :Mar 1 1947
10,000,000 3 K & 4 M &
4 g
F
&
A
do
do
Feb 1 191^»
5,000,000
S ii A
&
O Second N at. B k .. N H April 1 1954
500 &c 10.000,000
4
J
&
J Lincoln N at Bank, N Y July 1 1955
15,000,000
3)4 J
&
J Second N at Bank, N H Jan 1 1956
100 &c See text.
:
N Y C E N T R A L & HUDSON R IV E R R R .— (Concluded.)
G E N E R A L F IN A N C E S .— The refunding of old bonds was completed In
1905 : annual saving in interest charges about $ 1 ,4 7 5 ,0 0 0 . V . 75, p. 1148
V . 7 6 , p. 159; V . 8 0 , p. 31.
In June 1903 various roads controlled by the
Vanderbilt, Morgan and Pennsylvania Interests purchased $ 6 ,924,200 of
the $11,0 0 0 ,0 0 0 Hocking Valley R y . com . stock. See that com pany.
In Jan 1907 the dividend rate was raised from 5 to 6 % and the dividend
rates on the Lake Shore and the Michigan Central from 8 to 1 2 % and 4 to
6 % respectively, increasing the income of the Central from its holdings of
the stocks of the two companies $2,147,754 yearly. V . 83, p. 1411.
In Jan. 1907 $25,000 ,000 3-year 5 % notes, also $15,000 ,000 Lake Shore
and $ 1 0,000 ,000 Michigan Central were sold. V . 84, p. 271, 394.
Stockholders late In 1906 subscribed for $29,839 ,560 new stock at par.
In 1902-03 control of the Reading Co. was acquired by B alt. & Ohio
(Pennsylvania Interests) and Lake Shore. V . 7 6 , p. 101; V . 7 8 , p. 48.
In 1906 the Oregon Short Line (Union Pacific system) acquired §1 4 ,2 8 5 ,7 4 5
N . Y . Cent, stock. V . 84, p. 5 2 ,5 7 1 .
The Mohawk Valley C o ., with $ 2 0,000 ,000 (formerly $10,000,000) author
ized stock, 6 0 % being owned by N . Y . Cent, and 4 0 % by the “ Central Rail,
way Syndicate” of Cleveland, is a holding com pany for various electric roads
acquired in 1904 and 1905, Including Syracuse Rapid Transit, Rochester &
Eastern R apid, R och. R y. & Light, Schenectady R y . (half Interest), &c.
V . 81. p. 1849; V . 82. p. 16, 334, 934; V . 83, p. 156; V . 84, p. 1308.
A s to contract of 1903 with Pennsylvania Beech Creek & Eastern Coal
Co. to ship at least 1,000,000 tons annually, see V . 7 7 , p. 2098; V . 7 9 , p.
1 335 . 1435.
In O ct. 1905 ordered 25,000 cars, part for Lake Shore. V . 8 1 , p. 1315.
L A T E S T E A R N I N G S .— For 8 m os. ending A u g. 31, gross, $64,964 ,633
In 1907, against $59,2 3 1 ,9 5 4 in 1906.
For 6 months ending June 30 (partly estimated in 1907);
f> M o s .—
Gross.
Net.
Other inc.
Charges.
Bal. for Dlv.
$9,53 0 ,3 8 2
$ 4 ,911,076
$11,494,091
$2,947,367
1907 ____ $ 4 6 ,930 ,896
1906
4 2 .879.226
12,103,312
3,2 4 5 ,2 3 4
11,055,579
4,292,967
Dividends of 8 % call for $ 5 ,358,960 in 1907, against $3,729,944 ( 2 ^ % )
in 1906, leaving a balance, deficit, of $ 2 ,411,593 In 1907, against surplus of
$363 ,02 3 in 1906.
A N N U A L R E P O R T .— Report for year ending Dec. 31 1906 was given
at length in V . 84. p. 864, 872.
See also editorial, p. 838.
Combined Results O F A L L IE D L I N E S .
(Compare V . 8 4 , p . 926 ,8 9 8 •
Year ending Dec. 31.
1906.
1905.
1904.
1903.
Miles operated_____
12,159
12,028
11,183
11,163
Gross e a r n in g s ____$ 225,591,500 $206,728,132 $187,274,529 $189 ,60 2,48 6
68,329,446
61,324,129
5 7 ,035,420
5 6 ,555,885
Total net, income___
First chargee.............
43.351,256
41,396,188
3 9 ,138,555
3 7 ,458,417
D iv id en d s.......... ..
18,009,178
15,419,279
15,024,077
14,845,144
Surplus .................
$6,969,012
$4,508,662
$ 2 ,872,788
$ 4 ,252,324
N ote.— The "n e t Income” as above is stated after adding to the operating
expenses for the several years from $10,500,000 to $13,700 ,000 (In 1906
$12,595 ,800 ) for new equipment an(j construction and after adding to net
earnings “ other income” amounting to $ 7 ,722,100 in 1903 and rising steadily
to $12,711 ,817 in 1906.
R E P O R T O F N E W YO R K C E N T R A L A H U D S O N R IV E R RR.
------------Years ending Dec. 31----------------- Year end.
1906.
1905.
1904.
June 30 ’04.
Miles operated....................
3,784
3,774
3,515
3,490
Gross ea rn in g s..................$92,089 ,769 $86,095 ,602 $ 7 8 ,573 ,208 $77,682,221
N et earnings_____ ______ 25,827,813
24,594,851
22,45 0 ,8 2 3
2 1 ,922,160
Other In c o m e ___________
7 ,7 0 7 ,7 4 2
6 ,523,500
6 ,468,736
6,005,982
N et incom e............... $33,535,551 $31,118 ,351 $28,919 ,559 $27,928 ,142
Interest on d ebt________ $ 8 ,214,520
$ 8 ,223,557
$7,57 9 ,3 1 2
$7,092,483
Rentals leased lines____
9 ,501,170
9,5 0 8 ,4 9 9
9,479,955
9,466,767
Taxes on s t o c k ...............
1 ,011,557
1,143,438
783,148
815,103
Taxes on real estate . . .
2,924,594
2,726,021
2,617,014
2,451,901
Miscellaneous ................. ..
1,231,391
1,236,081
605,391
461,617
_______
150,000
300,000
300,000
Reserved for debentures
D ividends____________ ( 5 }£ )7,832,885 (5)6,612,500 (5 )6,612,500 (5 )6,612,500
Im prov. fund & e q u ip ..
2 ,800,000
1,500,000
(?)
707,099
B al.m ce.......................
$19,433
$18,253
(?)
$20,673
Pres., W in . H . Newm an; Chairman, Chauncey M . Depew; V .-Presidents.
W . C. Brown, E .V . W . Rossiter, Edgar Van E tten , John Carstensen,
W illiam J. W ilgus, G. J. Grammer, Chas. F. Daly and Ira Place; Treas., E .
L . Rossiter; Sec., Dwight W . Pardee.
Directors (April 1907). W . K . V an
derbilt, F . W . Vanderbilt, C. M. Depew. S. F. Barger, J. Pierpont Morgan,
W illiam Rockefeller, H am ilton M cK . Tw om bly, W illiam H . N ew m an,
Charles C. Clarke. D. O. Mills, Geo. F. Baker, George S. Bowdoin and Jas.
Stillm an.— (V . 84, p. 1308, 1428, 1488; V . 84, p. 40, 346, 722.)
N E W Y O R K CHICAG O & ST. LO U IS R R .— (See M a p of New York Cen
tral <fe Hudson River.)— Owns from Buffalo, N . Y . , to Illinois State Line, ex
cept 8 m . leased bet. Dunkirk and Silver Creek, leaving 494 m .: leases the
proprietary line. Chic. & State Line R R ., 111. State Line to Grand Crossing
10 m .; also leases Dunkirk to Silver Creek, 8 m .; total. 512 m .; trackage in
Buffalo. N . Y . , 1 H m .,a n d Gr Cross’g, Chic.. 111. (Lake Sh. R R .) , 9 m .
S T O C K .— Lake Shore & Michigan Southern owns $6,240,000 common
$ 6 ,275,000 2d preferred and $2,503,000 1st preferred stock. After 5 %
dividends on the $14,0 0 0 ,0 0 0 com m on, all classes of stock share alike.
D I V I D E N D S .— ’ 93. '9 4 . ’ 95. ’ 96. ’ 97. ’ 98. ’99. ’00. ’ 01. ’02 to ’0 6 . ’07.
1st pref. in March 3
4
0
5
0
2
0
5
5
5
yearly.
5
2d p r e f ___________ __
—
..
..
..
..
..
..
2
3 yearly.
4
B O N D S .— A sinking fund of $100,000 per year Is provided when net
arnlngs are $900,000 or upwards, if bonds can be bought at or below
102; If not, the sinking fund lapses for that year, thus leaving $100,000
nore for dividends. The Issue of bonds, $ 2 0 ,0 0 0 ,0 0 0 , has been reduced
by sinking fund. See mortsraee abstract. V . 45. p. 541.
In March 1906
$1 0 ,0 0 0 ,0 0 0 debenture 4s were sold for equipm ent, & c., but only $3,000,000
'83ued. V . 82, p. 693.
[V o l .
RAILWAY STOCKS AND BONDS
I M2
i
t
E A R N I N G S .— For 8 m onths ending A u g. 31 1907, gross, $6,915 ,0 3 5 ; In
1906, $6,5 0 4 ,2 9 0 .
6 mos. end. June 30.
Gross.
N et.
Other Inc. Charges. B a l., Sur.
1907................................ $5,221,021
$1 ,1 3 6 ,6 5 5
$4,650 $651,343
$489 ,96 2
1906_________________ 4,8 8 5 ,9 9 9
9 03,760
22,068
611,294
314,534
R E P O R T .— Report for 1906 was in V . 84, p. 927. Principally a freight
line, freight In 1906 contributing $ 8 ,350,148 out of $ 9 ,902,209.
Year ending Dec. 31—1906.
1905.
1904.
Gross earnings___________________________$9 ,9 0 2 ,2 0 9
$9,108,730
$ 8 ,645,374
Operating expenses_____________________ 7,2 2 7 ,5 8 1
6,753,607
6,4 2 2 ,1 4 2
Additions and betterm ents____________
63 2,889
537,341
674,467
Net earn ings_________________________ $2,041,739
Other I n c o m e .._________________________
47,807
$1,817,782
30,716
$ 1 ,5 4 8 ,7 6 4
35,1 5 6
Iv t including other income____ , ____ $2,089,546
Interest on bonds_______________________
776,720
Equipment trust charges......................... ..
166,105
Dividend on flrst preferred_____ _______ (5)250,000
Dividend on second preferred__________(4)440,000
Miscellaneous____________________________
59,019
$ 1 ,848,498
777,000
170,057
(5)250.000
(3)330,000
31,078
$ 1 ,5 8 3 ,9 2 0
7 7 7 ,0 0 0
17 2 ,4 6 0
(5 )250,000
(3)33 0 ,0 0 0 '
1 5 ,5 4 4
Balance, surplus_____________________
$397,702
$290,363
$ 3 8 ,9 1 7
Pres., W m . H . Canniff.— (V . 82, p. 1037; V . 84, p. 5 2 , 155, 159, 927.)
N E W YO R K & G R E EN W O O D L A K E R Y .— (See M a p of Erie R R .) —
Owns from Jersey C ity, N . J ., to Greenwood Lake. 39 m .. and branches to
Rlngwood, & c., 8 m .; W atchung R y ., Forest Hill to Orange, N . J ., 4m .;
total owned, 51 miles. Stock, $100,000; par, $50.
L E A S E .— On May 1 1896 was leased to the Erie R R . for 999 years from
M ay 1 1896. Prior lien bonds are guaranteed, principal and interest, by
Erie. See V . 63. p. 513; form of guaranty, V . 65, p . 463.
N E W YO R K & H AR LE M R R .— (See N . Y . Cent. & H ud. Rlv. R R.) —
Owns N . Y . City to Chatham , N . Y . , 136 ra. Also owns 4th Ave. S t. R R
L E A S E .— The property (except the street railroad) was leased April 1
1873 for 401 years to the N. Y . Cent. & H ud. R lv. R R . for interest on bonds
and dividends at rate of 8 % yearly, since Increased to 10 % through refund
ing of bonds, payable Jan. and July. V . 70. p. 7 4 0 ,1 0 4 9 ; V . 7 1 , p. 2 9 ,1 2 2 0 ;
V . 8 4 , p. 159. The street railway was leased In July 1896 to M et. Street
R y. Co. for 999 years: rental Is $400,000 yearly, equal to 4 % per annum on
stock, payable Apr. and O ct. V . 6 2 . p. 1088.— (V . 80, p. 1424; V . 8 4 , p .159.)
N EW YO R K L A C K A W A N N A & W ESTERN R Y .— Binghamton to B uf
falo and Internat. Bridge and branches, 214 m ., of which the main line, 213
m ., Is double track; D . L. & W . has a lease for duration of charter from O ct.
1882 giving a guaranty of the bonds and 5 % yearly on the stock. See form
of guaranty of terminal bonds in V . 67, p. 1357; see also V . 68, p. 283.
N E W Y O R K & LONG BRANCH R R .— Perth A m b oy to Bay H ead, N . J . ,
38 miles.
Leased In 1888 for 99 years to Penn. R R . and C en t.R R . of N . J . .
which jointly and severally guarantee interest and 7 % on $ 2 ,000,000 stock
all owned by Cent. R R . of N . J .— (V . 7 2 , p. 438.)
N E W YO R K N E W H A V E N & H AR TF O R D R R .— Covers Southern New
England and the only direct routes between New York and Boston.
Leased (part Owned) —
M l ie s .
Lines Owned In F ee—
M iles
Old Colony R R . (which see)—
610
Junction near N . Y . City to
Lines Leased—
Springfield, M ass---------------------122
Providence and W orcester--------48
Boston, M ass., to Hopewell
Norw. & Worcester (which see)
73
.............214
Je t., N . Y ....................
Other lines_______________________
Lines to Providence, Pittsfield
402
54
Litchfield, & c_______
3 4 8 Trackage to N . Y . C ity, &c------Leased and Controlled
Lines to Turner’s Falls, & c____ 180
Total operated July 1907 (91 m . has four and 757 m . tw o tracks)------- 2 ,0 6 0
Tn March 1907 merger of New England R R . was authorized. V . 8 4, p.
626.
An arrangement for trackage into Albany over the Boston & Albany
was made In June 190 7. V . 84, p. 1428; V . 8 5 , p. 41.
In O ct. 1905 the New Haven & D erby, the Danbury & Norwalk, the
Providence & Springfield and other controlled roads were merged. V . 81,
p. 131 5. The stockholders of the Naugatuck R H - on Jan. 18 1909
voted to sell the road; those of the Boston & New York Air Line on Jan. 23
1907. V . 82, p. 281, 45 1 , 1213; V . 83, p. 9 70 ; V . 84, p. 2 21 .
In O ct.
1906 acquired Pawtuxet V alley R R .
V . 83, p. 1099.
In June 1907 an amount of Boston & Maine stock ($ 1 0 ,9 9 4 ,8 0 0 ) was e x
changed, share for share, for New Haven stock, but acquisition of additional
stock ceased on passage of the “ anti-merger A c t ,” preventing consolidation
prior to July 1 1908.
V . 8 4, p. 1367; V . 8 5 , p. 4 1 , 160, 723 , 859.
In O ct. 1904 $ 2 9 ,1 6 0 ,0 0 0 of the $ 5 8 ,1 1 8 ,9 8 2 N . Y . Ont. & W est, com ,
Stock was acquired at $45 per $100 share and $ 2 ,200 of the $ 4 ,000 pref..
giving access to anthracite mines.
V . 7 9 . p. 2086 . 2642; V . 80. p. 136:’..
The N . Y . Central & Hudson River has an option on the stock to D ec. 31
1907. V . 85, p. 4 1 ,1 6 0 .
In June 1907 permission was given for purchase by Old Colony of Boston
and Providence as preliminary to acquisition of former by the New H aven.
V . 84, p. 3 91. 1488.
Early In 1904 acquired a m ajority of the stock and Income bonds of thcCentral Vew Entrland R y ., which In June 1907 was merged with allied com
panies preparatory to consolidation with the N Y . N . II . 4 H . R R . C o.
V . 84, p . 1488; V . 85, p. 160; V . 85. p. 858.
In O ct. 1906 acquired control of Partford & New York Trans.
Co. and In Jan. 1907 control of the Maine S. S. Co.
in March 1907 pur
chased one-half of the stock of the M erchants’ & Miners’ Transoortatlon
C o ., which acquired the Boston fc Philadelphia S. S. Co.
V . 8 3 , p. 8 9 0 :
V . 84, p. 221, 271, 391 571, 626, 749: V . 85, p. 858.
On May 31 1907 the Consolidated R y ., a consolidation of various co n
trolled electric railways In Connecticut and Massachusetts, aggregating
about 700 miles of track, purchased the property of the New England
Navigation C o .. owning the Fall River and other steamship lines; Its capital
stock, as then increased from $ 1 0 ,000 ,000 to $ 3 0 ,0 0 0 , 0 0 0 . was exchanged
bv the N . Y . N . H . fc H . R R ., as owner thereof, for Its own stock to an
equal nar value which, going into the treasury of the railroad, was available
for general purposes. Compare V . 84, p. 1052, 1114, 1242, 1308, 1424; \ .
85, p. 859.
O c t .. 1907.]
I N T E R E S T OR D I V I D E N D S .
R A IL R O A D S .
For explanation of column headings, A c ., see notes
on first page of tables.
M iles Date
of
of
Road. Bonds.
N Y New Hav & H— (Con.) — Debentures not con vert.
Debentures 145,000,000 francs ( $ 2 9 ,0 0 0 ,0 0 0 ) _______ i
N Y Prov & Boston gen M (now 1st) gold assum.c&ri
Shore Line 1st M New Haven to New London assum
Housatonic old consolidated mortgage (assu m ed )..)
New consol M ($3,000,000) gold (assumed) .F .c *
N Eng cons (now 1st) M $ 7 ,500,000 5s g o ld ._M a .c*
N Y & N E Boston Term 1st M $ 1 ,5 0 0 ,0 0 0 . AB.c&r
New Haven & Derby consolidated m ortgage-------c*
Providence & Springfield first mortgage gold___ c*
Danbury & Norwalk cons M ($100,000 are 6 s )— c*
General M D anbury, Conn, to W ilson Point, &c.c*
First ref M ( V .82. p . 210) gold assumed____ e*&r
H R & Por 2d (now 1st) guar (V 56, p 8 1 3 ) ..F .c & r
Harlem R iv & Port 1st M gold $ 1 5 ,0 0 0 ,0 0 0 .l i . c ’ &r
W oonsocket & Pascoag first mortgage_______________
Naugatuck first mortgage gold assumed____ c*& r
D eben tu res__________________________________________ i
Boston & N Y Air Line new M $ 5 ,000,000 (assumed)
Providence Term 1st M $ 7 ,500,000 gold gu p & i.c *& r
Consolidated R y debentures, convertible____________ j
do
do
do
do
____________
do
do
do
non-convertible----------do
do
do
convertible____________ |
do
do
do
do
........ ..............
Bonds of electric roads merged ($4,423,000 are 5s)
Bonds of electric rds leased or contr (See“ St R y Sec” !
Bonds of steamship, &c, cos controlled______________
N Y N H & H R R coupon notes.
(V 83, p 1 5 9 1 ).
do
do
do
do
(V 84, p 52, 103)
Bonds of Leading Proprietary, E tc ., Lines:
N H & No con s f $15,000 per year not draw n. Un.c*
Northern Extension bonds_______________ _______ c* I
H olyoke & W leased mortgage $200,000 g u a r ..c *
Old Colony— See that com pany.
Providence & Worcester first mortgage currency. .
New Eng Sec & Inv Co, Providence Sec Co; Conn Ry
New York Ontario & W estern— Common stock_______
62
49
90
90
359
13
28
36
36
36
12
12
9
61
1906
1907
1892
1880
1880
1887
1895
1889
1888
1892
1880
1883
1905
1881
1904
1890
1904
1902
1905
1906
1904
1905
1905
1905
1906
Var
Var
Var.
...
1907
98
28
10
1879
1881
1891
Size, or
Par
Amount
Value. Outstanding
1,000
1,000
1,000
6
5
4
A
A
A
&
&
&
O
O
O
Bonds— Princl~
■pal. When Due
Stocks— Last
Dividend.
Lincoln N at Bank, N Y, M ay 1 1956
April 1 1922
Paris, London, &c.
April 1 1942
N H Savings Bank
N at N H B k, New Haven: Mar 1 1910
New H aven, Conn
April 1 1910
Farmers’ L & Tr Co, N Y N ov 1 1937
Safe Dep & Tr Co,Boston July 1 1945
Coup, office; reg, mailed April 1 1939
New H aven, Conn
M ay 1 li-l-'i
Lincoln N at Bank, N Y July 1 1922
New H aven, Conn
July 1 1920
April 1 1925
do
do
June 1 1955
do
do
Chemical N at Bank, N Y ! June 1 1911
M ay 1 1954
New York
R I Hosp Trust Co, Prov Oct 1 1910
New H aven, Conn
M ay 1 1954
Treas. New H aven. Conn Oct 1 1930
Second N at Bank. N Hi Aug 1 1955
Mar 1 1956
do
do
1 1954July
1 1955Jan
Feb
1 1930
April 1 1955
1 1956Jan
1912 to 1951
1914 to 19321912 to 1934
First National Bank, Bos To Dec 1908
Jan 1909-1912
do
do
do
do
April 1 190S
April 1 1911
April 1 19 U
do
do
... --
D I V I D E N D S . — \ 1873-1893.
1894.
1895 to Sept. ’ 07 (Inclusive)
P ercen t.
j
10 yearly.
9
8 (2 % quarterly).
' B O N D S .— Harlem River dc Portcli. Div. 4s of 1904 ($15,000,000 a u th .)
are subject to $1,000,000 of 4s due 1911, for which a like am ount is reserved.
There are 8 2 5 ,0 0 0 ,Colchester R R . tlrst 7s due July 1 1907.
Under lease,
"a ssu m e d ” debt of Old Colony.
Bills payable Apr. 30 1907, $ 3 ,460,000.
Stockholders of record Dec. 31 1905 subscribed at par, payable 2 5 % each
Jan. 1 1906. Oct.. 1 1906. July 1 1907 and April 1 1908, or optionally In full
on any o f said dates, for $ 2 9,997 ,300 of 3 % coupon debenture certificates,
convertible at a par of $150 for $100 stock between Jan. 1 1911 and Jan. 1
1916, the proceeds to be used for improvements authorized and contem
plated and the purchase of outstanding securities of controlled roads. V . 8 1 ,
p. 976. 1039, 1493; V. 84, p. 103, 694.
In Feb. 1907 145,000 .000 francs ($29,000,000) 4 % 15-year debentures
with a fixed rate in marks and £ were sold. V . 84, p. 391, 450, 508, 804, 931.
Provldencs Terminal Co. bonds ($7,500,000 authorized), see V . 82, p. 929,
629, 6 9 3 , 1213, 1323; V . 83, p. 96, 819.
New Haven & Northam pton in 1906 auth. $10,000,000 consol. 4s guar.
(futstanr/fnff Debentures Issued A Assu mtd by the Company as of June 30 1907.
Outstnnd'g M aturity.
Outstanding.
M aturity,
('ovrertible—
5 % . . .............
$200,000 D ec.22’08
S H % 1906 $ 1 1 ,5 7 8 ,9 0 0 Jan. 1'56 5 % ___________
250,000 D ec.24’08
do warrant# 18,421,100 Jan. 1*58 5 % . . . . . . .
450,000 D ec.29'08
66,100 April 1’08 5 % .
4 % 1 8 9 3 ____
_______
500,000 D ec.3 1 ’08
Non - eoTmerttt>k>—
Notes. A c ., Dated 1907—
4 % 1 9 0 4 ____
5 ,0 0 0 .0 0 0 Feb. 1 *14 2-year 5 % . .
1,500,000 Jan. 9 ’09
4 % 1# 8 7 ____
5,0 0 0 ,0 0 0 Mch. 1’47 3-year 5 " i ___
3,500,000 Jan. 9 ’ 10
3 ^ % 1901
5 ,0 0 0 ,0 0 0 Mch. 1'47 3-year 5 % ___
50,000 J a n .10*10
3 H % 1 9 0 4 .. 10,000,000 April 1’ 54 4-year 5 % . . .
2,150,000 Jan. 9 ’ 11
4 % 19 0 5 ____ 1 5 ,000,000 July 1'55 5-year 5 % . . .
300,000 Jan. 1 ’ 12
4 % 19 0 6 ____ 15.000,000 M ay 1 5 6 5-year 5 % ___
6 ,400,000 Jan. 9 ’ 12
2- Year N otes Dated 1900—
European 4 % 2 7 ,985,000 April 1'22
600,000 O c t.2 0 ’08
4,Mj % ------------Debentures Assumed—
!>K % ...............
1,2 5 0 ,0 0 0 N ov. 15’08 Naugatuck R R .
5 '% ...... ..............
500,000 N o v .1 5 ’08
3 ^ % 1902 1 2 ,0 0 0 ,0 0 0 O ct. 1'30
r> M % ------------100,000 N o v .1 9 ’08 ; H artf’d S t.R y .
5 % - .............
2 ,0 0 0 ,0 0 0 N o v .2 2 ’08
4 H % “ N” .
145,000 Jan. 1’30
•
r> % ....................
500,000 N o v .27'08 ! 4% " M ” ___
165,000 Jan. 1 '30
5 % -------J-------370,000 Dec. 1’08 ! Cons. R y . (s e e V .8 4 ,p .l 114)
5 % ------ --------300,000 Dec. 5 ’08
4 % 1 9 0 4 ..
4 ,354,000 July 1’54
5 % ----------------200,000 Dec. 7 ’08
4% 1 9 0 5 .. 2 ,350,000 Jan. 1'55
5 H % - * ...........
50,000 Dec. 11 ’08
4% 1 9 0 5 .. 1 ,341,000 April 1 ’55
5 % ....................
400.000 D ec.11’08
4 % 1 9 0 6 ..
2 ,1 0 8 ,0 0 0 Jan. 1’56
400,000 D ec.14'08
5 % ............... ..
3-3> 4-4 % ’05 1 ,000,000 Feb. 1’ 30
8%—
...........
250,000 D ec.21’08
r O f the Naugatuck debentures. $1,760 000 are held in treasury.
A N N U A L R E P O R T .— Report for 1906-07 in V . 85, p. 858.
Year cmtinrf June M .
1907.
1906.
1905.
1904.
Miles operated___________
2,060
2,057
2,088
2,031
Passenger earnings. ___$26,758 ,929 $25,252 ,124 $ 2 4,146 ,454 $23,425 ,173
Freight earnings. .......... 28,386,704
2 7 ,247,118
25,341,855
24,413,541
M iscellaneous___________
456,303
485,080
493,638
444,195
Gross earn lnga.......... $55,601 ,936 $ 5 2 ,984 ,322 $49,981 ,947 $48,282 ,909
N et earnings___________ $ 17,751 ,855 $17,761 ,736 $ 1 4,148 ,924 $13,123 ,698
3.6 1 5 ,9 0 0
____
.
Net earnings, street rwNet earnings, SS. line's
635,127
. . . .
Other in c o m e ___ __ .
2,077,874
2 ,175,757
1 ,223,452
906,436
Total net income .
$24,080 ,756 $19,937 ,493 $15,372 ,376 $14,030 ,134
- -1 ,432,473
- - —
‘ “ ',687
Interest on bonds
. } $ 5 , 732,743
$ 3 ,0 0 5 ,7 9 3 / $
$779,
Other Interest_____ J J
»
435,385
279, 993
Rentals . „ _____________ _
3 ,935,594
5 ,604,846
4 .4 2 0 , 283
4 ,1 3 6 ,8 4 3
Taxes . —
...............
2 ,810,729
3,592,236
2 ,455,,434
2,659,624
Dividends ( 8 % ) ________
6,4 6 7 ,0 9 2
6,904,988
6,006,,448
6 ,4 0 0 ,0 0 0
Im prov’ts
betterm 'ts.
3.0 0 0 ,0 0 0
Insurance fund.............
326.998
M iscellaneous----------------237,889
$308,051
$88,309
O F F IC E R S .—-Pres., Chas. S. Mellen, New Haven; S e c., John G. Parker;
T reas., Augustus S. M ay, New H aven, Conn.
Directors.— W illiam Skinner. H olyoke, M ass.: Jas. S. Elton. W aterbury,
C onn.; Chas. S. M ellen, New H aven, Conn.; J. Plerpont M organ, William
Rockefeller, H . M c K . T w om b ly. George McC. Miller. New York; D. Newton
Barney, Farm ington, C onn.; Chas. F. Choate and Nathaniel Thayer, Bos
1,117,000
700,000 «
200,000
M & N
A & O
A & O
M & S
A & O
M & N
& J
J
A & O
M & N
.)
&
J
& J
,1
A
& O
& D
J
,)
& D
M & N
A & O
M & N
A & O
h'
A
M & S
&
J
.1
& .1
.1
F & A
A & O
& J
J
Various
Various
Various
Various
.)
&
J
Where Payable, and by
Whom.
4
A
& O R I Hosp & Tr Co, ProvjOct 1 1947
1,500.000
51 1897
1,000
Ltg Co— S ee “ Stree t Railway Section.”
______________________ ,ijuly 29 ’ 07 2
100 5 8 ,113,982 See text. See text.
C A P IT A L S T O C K .— Authorized issue unlimited.
Stockholders will vote
O ct. 30 1907 on Increasing the stock by $ 3 5 ,469 ,500 . Shareholders of rec
ord Dec. 2 19W7 will be allowed tosubscrlbe pro ra ta ,to the extent of onefourth of tboir holdings, for $29,270 ,400 new stock at $ 1 2 5 pershate, payable
2 5 % each 6 m onths beginning Jan. 1 1908, or optionally.in full
any tim e
The $117 ,08 1,00 0 stock to which the right applies includes $20,0 0 0 ,0 0 0 ,
which was reserved for conversion of $30,000 ,000 debentures. V . 85, p .794.
$391.28"
When
Payable.
4
$15,000,000
4
500 frs&c 27,985,000
1,000
1,000,000
4 g
200,000
1,000 <Scc
4^
4
500 <5ec
100.000
2,839,000
5 g
1,000
1,000 17,500,000 4 g & 5 g
1.000
1,500 000
4
1,000
575,000
5
1,000
750,000
5 g
1,000
5 &6
500,000
150,000
5
1,000
350,000
4 g
4
635,000
1,000
1,000 &c 10,958,000
4 g
5
100.000
1,000
2 ,4 )6 .0 0 0
1,000 &c
4 g
234,000
3«
3 ,777 ,U00
1,000
4 S
2,876,000
1,000 &c
4 g
4
gr
4,354,000
2.350,000
4 g
1 ,000,000 3 -3 K -4 g
1,341,000
4 g
4 g
2,108,000
9,080,000 4, 4 'A , 5
34,221,078 4 to 6
2,883,000 4 ^ , 5 & '6
8,320,000 4J4 ,5,514
5,000 &c 13,900,000
5
In 1906 most of the Massachusetts trolley roads were transferred to the
New England Security <fc Investm ent C o., a voluntary association.
(V . 83,
p. 96, 380, 4 J2, 811, 1099; V. 84. p. 103, 1052.)
In Dec. 1906 the Consol.
R y . leased the Connecticut Railway & Lighting C o., operating 193 miles.
(V . S3, p. 1525; V . 84, p. 508.)
A ls -) in Dec. 1900 acquired control of the
Rhode Island Securities C o., controlling the street railways (2*5 miles)
gas and electric-light properties of Providence and vicinity, $19,8><8,000 ,
Provldencs Sec. 4 % debentures being guaranteed, principal and interest.
V . 83, p. 1528; V. 84, p. 1114; V . 85, » . 858.
See “ Street R ailw ay" Section
Stockholders of the Torrington & Winchester St. R y . and Meriden South
ington & Compounce Tramway voted on June 28 1907 to sell to the N . Y .
N . H . & H . V . 85, p. 41.
Balance, surplus---------$1,98 8 ,0 5 4
103
RAILWAY STOCK AND BONDS.
ton; Robert W . T a ft, Providence; C. F. Brooker. Ansonia, C onn.; I. De V .
W arner, Bridgeport: James McCrea, Philadelphia, P a .; Janies S. H em ing
w ay, Geo. J. Brush, Fredk. F. Brewster, A . Heaton Robertson, N ew
Haven; Frank W . Cheney, South Manchester; Edwin Milner, M oosup,
Conn.; John H . W hlttem ore, Naugatuck, Conn;; Henry K . M cH arg, S ta m
ford, C onn.— (V . 85. p. 723. 794, 858 922; V . 85. p. 1005.)
N E W Y O R K O N TAR IO & W E S T E R N R Y .— Operates from W eehaw ken,
opposite N . Y . C ity, to Oswego, on Lake Ontario:
Road Controlled, A c .—
M ile s.
Road Owned—
M iles.
Pecksport, Conn. (leased)----------S
Oswego to Cornwall, N . Y ______272
Branch to New B e rlin __________
22 Ontario, Carb. & S . (leased)
Cadosia, N . Y . , to Scranton,Pa. 5 4
do
to D e l h i ________________
17
do
to Ellenvllle ___________
8 Rome & Clinton (leased)________ *1S
Utica Clinton & Bing, (le a se d ).. *31
W harton V alley Gowned)________
7
Total owned___________________ 319
Ellenvllle & Kingston (le a se d ).. 27
Trackage (till 2079) W .Shore R R .:
C'nwall to W ’ ken (V.61 ,p.425)
53 Port Jervis M ont. & Sum m ltville
(owned and leased)___________
38
* See this company.
Total operated July 1 1907_______________________________________________ 546
C O N T R O L .— In O ct. 1904 N . Y . N. H . & H . R R . acquired $ 2 9 ,1 6 0 ,0 0 0
com. stock at $45 per share and $ 2 ,2 0 0 of the $4,000 Dref. V . 7 9 , p. 2086 ,
2643; V . 80, p. 1363, 2458; V . 81, p. 1044. The N . Y . Cent. & Hudson
River R R . in June 1907 held an option on the stock. V . 84, p. 1'428.
S T O C K .— Stock is $58,117 ,982 (par, $100), of which $4,000 Is old pref.
D IV I D E N D S .— Com m on. Jan. 190 5, 3 % ; Ju ly, 1 M % ' t8 0 8 and 1907»
2 % each.
B O N D S , & c.— Refunding mtge. for $20,0 0 0 ,0 0 0 covers 319 miles of road
owned, all the securities of the Ont. Carb. & Scran. R y ., 54 miles, and all
after-acquired property. V . 7 2 , p. 87; V . 7 8 , p. 2012; V . 8 0 . p. 651.
The stockholders voted on N o v . 7 1904 to authorize a new m tge. for $ 1 2 ,000,000 to provide funds for capital requirements, under which $3,300,00©
have been issued and the remainder will be reserved for future needs. A
3 % dividend (calling for about $1,740,000) was paid on the common stock
in Jan. 1905, vesting in the shareholders directly the right to elect the en
tire board of directors. V . 79, p. 977 to 9 80, 1332, 1462; V . 8 0 , p . 8 72.
In June 1907 permission was granted to issue $1,948,000 additional bond?
for additions, improvements and equipm ent, of which $ 1 ,8 0 0 ,0 0 0 , included
In above am ount, were sold. V . 84, p. 1488.
Early In the calendar year 1899 the coal properties at Scranton, P a ., of the
Lack. Iron & Steel Co. (the capacity of the collieries then open being about
700,000 tons per annum) were purchased by the Scranton Coal C o., aided
b y loans from the N . Y . O . & W . , the latter issuing its $2 ,5 0 0 ,0 0 0 5 % notes(reduced to $ 9 7 5,00 0 Aug. 1 19 0 7 ), extending over a period of years, se
cured by first m tge. on the coal property, and loaning $1 ,4 7 5 ,0 0 0 (of which
$305,000 has been repaid) secured by a 2d m tge., the O. & W . obtaining con
tract for entire tonnage. V . 6 8 , p. 4 1 , 429; V . 69, p. 6 04, 646; V . 8 1 , p. 1792.
In N ov. 1900 eight Independent anthracite properties with a m axim um
output of 2 ,000,000 tons annually were merged as the Elk Hill Coal & Iron
C o ., the N . Y . O. & W . Issuing Its $ 3 ,500,000 5 % s. f. first lien gold notes
secured b y the Coal & Iron C o.’s 1st m tg e., these notes maturing $ 7 5 ,0 0 0
each 6 m os., beginning June 1 '0 1 , to June 1 ’ 11, and thereafter $200,000
semi-annually to D ec. 1 ’ 15. The notes are secured pari passu with the bondsIssued under the gen. m tge. of 1905. The Elk Hill Co. also made a 2d m tge.
to the N . Y . O. & W . for $ 2 ,400,000 at 5 % . V . 71, p. 1270; V . 73, p. 5 0 1 .
The com pany’s coal tonnage Is derived as follows: Scranton and Elle:
Hill companies (as above stated ), total m axim um capacity, 2 ,700,000 tons,
other companies, 3 0 0 ,0 0 0 ; washeries, 8 0 0 ,0 0 0 tons.
E A R N I N G S .— For 2 months ending Aug. 31:
2 M o s .—
Qross.
1907 ............................. .$ 1 ,7 2 6 ,4 0 3
1906 ________ _______ _ 1,652,875
N et.
$723,446
678,127
Charges.
$138,378
146,659
B a l., Sur.,
$ 585 ,06 8
5 3 1 ,4 0 8
A N N U A L R E P O R T .— Report for 1906-07 was given In V . 85, p. 5 9 6 .
Coal traffic in 1906-07, 3 ,145,807 tons (out o f 5 ,3 0 8 ,0 6 6 to n s), against
2,825,973 tons in 1905-00.
Year ending June 30—
1907.
1906 .
1905.
Gross earnings_________ _________ _______ $8 ,202,361
$ 7 ,2 6 5 ,0 5 8
$7,090,88&
Operating expenses and t a x e s .. . . . . 5 ,6 4 4 ,3 4 6
5 ,2 3 3 ,2 8 7
5,050,748
Balance, net earnings__________ . .$ 2 ,5 5 8 ,0 1 5
$2 ,0 3 1 ,7 7 1 $ 2 ,0 4 0 ,1 4 0
Total net Income, including “ other” . .$ 3 ,0 1 1 ,7 3 2
$ 2 ,4 8 4 ,9 8 8
$ 2 ,4 9 1 ,3 5 7
Interest on mortgage b o n d s ___________
8 83,358
8 6 2 ,0 6 7
7 6 6,976
Miscellaneous interest and discount. .
190,096
202,291
231,155
Rentals p a i d . . . _____________________ 283,506
23 2 ,5 2 8
21 1,948
..( 2 ) 1 ,1 6 2 ,2 9 6 (2 )1 ,1 6 2 ,2 9 0 (1 H -)871,765
Dividend_________________
$ 492 ,48 0
$2 5 ,2 0 6
$40 0 ,5 1 ?
Balance, surplus_____________________
Pres., Thos. P. Fowler.— (V . 8 4 , p. 1488; V . 8 5 , p. 4 0 3 , 596.)
N E W Y O R K & O T T A W A R Y .— Tupper Lake, N . Y . , to O ttaw a, C an..
128 m , Including O ttaw a
N . Y . , whose stock Is owned. Successor fo
the N . Y . & O ttaw a R R ., acquired by the N . Y . Cent. & H ud. R lv . R R .
at foreclosure sale on D ec. 22 1904 , which leases the road from Feb. 1 1905 .
V . 7 9 . p. 2796; V . 80, p. 223; V . 8 2 , p. 9 34. Stock authorized, $ 1 ,2 5 0 ,0 0 0 .
In June 1905 a m ortgage for $2 ,5 0 0 ,0 0 0 was m ade, of which $1,42 7 ,0 0 0 Is
sued to pay for the property and remainder issuable for improvements
and additions. V . 8 0 . p. 2458; V . 8 1 , p. 265.
For year end. June 30 1906
gross, $160 ,47 8; n e t, $10,5 1 9 ; other income, $2,1 2 7 ; charges, $63,886
b al., d e f., $ 5 1 ,2 4 0 .— ( V . 8 0 , p . 2220. 2458: V. 81, p. 265.)
N E W Y O R K & P E N N S Y L V A N IA R Y .— V . 7 9 , p. 501.
N E W Y O R K P H IL A D E L P H IA & N O R FO LK R R .— D elmar, D e l., t o
Cape Charles, V a ., 95 miles, and K ing’s Creek, M d ., to Crlslleld, 17 miles.
The Penn. R R . and Phil. Balt. & W ash , have an option on the $2,000,000stock.
V . 8 1 , p 14 37.
104
I N T E R E S T OR D I V I D E N D S .
R A IL R O A D S .
F o r earplanation of column headings, A c., see notes
on first page of tables.
New York Ontario & Western— (Concluded) —
Refunding (first) M $20,000 ,000 gold_______ M e.c'& r
Gen mortgage 512,000 ,000 gold red 110 (see te x t ).N
Gold notes secured by 1st M Scranton Coal C o_______
do gold sec by 1st M on E H C & I due semi-an c*
Car trusts Ser C $22,000 payable sem i-annually.M e
Car trusts Ser D $50,000 due sem i-annually_______
New York & Ottawa— First mortgage $2,500,000 g . . O
New York Phlla & Norfolk— Stock $ 2 ,5 0 0 ,0 0 0 .............
First mortgage $ 3 ,000,000 gold_______________ FP.c*
Income M gold non-cum reg ($ 1 ,0 0 0 ,0 0 0 )_______ FP
New York & Putnam— N Y & Nor 1st M gold_______ c
N Y & P con $ 6 ,200,000 gold guar p & 1 (end) .U n .c*
N Y & Rock Beach— 1st M $ 1 ,000,000 gold gu ar. Ce.c*
Second M Income bonds non-cum ulatlve_______ Ce.r
N Y Short Line 1st M $1,500,000 g gu p & i-.P e P x c *
N Y Susq & Western— Midland R R 1st M g o ld -.C e .c *
Paterson Exten R R 1st M real estate s f gold____ c*
New York Susquehanna & Western first m o rtg a g e..
First mortgage refunding gold........................... Ce.c*
Second M ($1,000,000 gold) 3d M on 72 m __C e.c*
General mortgage for $3,000,000 gold____ Ce.c*
Terminal first mortgage for $2,000,000 gold Us.c* &r
Allied companies—
W llk es-B . & E ’n 1st M g g u p & l ( V .6 0 ,p .4 8 1 ) ._ G .c *
Passaic & New York 1st M (999 years rental)_______
Macopln R R 1st M (branch to Macopln L ake)____
N Y Susq & W Coal Co 1st M red at 110 sink f d . .c *
New York & Wllkesbarre Coal Co first m o rtg a g e .. N
New York Texas & Mexico— See Galveston Harrisburg
Newport & Cincinnati Bridge— See Louisville & Nash
Newton & Northwestern— See Ft Dodge Des M &Sou
Niagara Junction Ry— 1st M $650,000 gold____ Me c*
Norfolk & Portsmouth Belt Line— first m ortgage. .F P
Norfolk & Carolina— See Atlantic Coast Line R R .
Norfolk & Southern— Common stock $ 2 0 ,0 0 0 ,0 0 0 ___
Pref stock $5,000,000 5 % non-cum red conv dur 5yrs
M iles
Date
of
of
Text.
1892
1905
1899
1900
1903
1904
1905
Road. Bonds.
128
112
112
57
57
12
12
OH
72
1
127
127
127
1899
1899
1887
1894
1887
1887
1907
1880
1881
1887
1887
1890
1893
Size, or i
Par
j
Amount
Value. Outstanding
1902
1898
%
,
1,000
1892
1885
500
1896
1,000
1887
1893
& San Anton 10,
vllle.
Text.
Rale
When
Payable.
$ l,0 0 0 & c $20 000,000
4 g
1,0001
‘ ,556,000
4 g
975.000
1,000
5 g
1,000
,525,000
5 g
22,000
1,000
5 g
150.000
1,000
5 g
,427,000
1.000 &c
4 g
,500,000 See text.
50
,600,000
1,000
4 g
,0 0 0 ,0 0 0
4
1,000
, 200,000
1.000
5 g
,025,000
1,000
4 g
984.000
1,000
5 g
1,000,000 Up to 5 %
1,000
-----------1 500,000)
4 g
1,000
3 ,500.000'
500 &c
6 g
1,000
250,000!
6 g
5 ,000|
6 g
,745,000!
i',6 6 6
5 g
447,000
1,000
4 hi g jF
,552,000
5 g
F
1,000
,000,000j
5 g
M
1.000 &c
1,000
1,000
S E C U R IT IE S .— Stock, $ 2 ,5 0 0 ,0 0 0 , all outstanding, $500,000 being
Issued June 1906 as a 2 5 % stock dividend; par, $50, represented by nego
tiable trust certificates Issued by Fidelity Insurance Trust & Safe Deposit
Co. of Philadelphia. O f the $ 3 ,000,000 1st 4s, $400,000 are reserved for
Improvements. V . 68, p. 773, 9 78. A s to Incomes, see V . 6 8 , p. 978.
Dividends on stock, 1901, 6 % ; 1902 , 5 % ; 1903, 6 % ; 1904, June, 3 % ;
D e c ., 5 % , Incl. 2 % extra; 1905, June, 4 % ; Dec. 6 % . incl. 2 % extra;
1906, June, 5 % and 2 5 % In stock; D ec., 5 % ; 1907 June. 6 % .
E A R N I N G S .— Year ending Dec. 31 1906, gross, $ 2 ,5 4 9 ,7 0 1 ; net, $839 5 92; charges, $393 ,59 2; dividend ( 1 0 % ) , $250 ,00 0; b a l., sur., $ 1 96 ,00 0.—
(V . 81, p. 1437; V . 82, p. 1213, 1438.) .
N E W Y O R K & PIT TSBU R G H SHORT LIN E R R .— V . 84, p. 626.
N E W Y O R K & PUTNAM R R .— Owns 155tb St. and 8th A v e ., N . Y .
C ity (terminus Manhattan E lev ated ), to Brewster- N . Y . , 54 miles; double
track branch to Yonkers, 3 miles; operates 2 mil *s; total, 5S» miles.
H I S T O R Y .— Successor to the N . Y . & Northern, sold under foreclosure
of 2d m tge. Dec. 28 ’ 93, and purchased for N . Y Cent. & H ud. R Iv. R R .
which owns $ 6 ,500,000 stock and leases the road— se<. V . 63, p. 7 54, 820,
1159; V . 81, p. 265.
Decision V . 74, p. 380r V . 77, p. 2339; V . 81, p. 1610;
V . 82, p. 272.
B O N D S .— The New York Central guarantees the new consolidated mort
gage bonds, of which $ 1 ,000,000 were reserved for lmproverrents; also
$ 1 ,2 0 0 ,0 0 0 to retire at m aturity the first 5s.— (V . 82, p. 272.)
N E W Y O R K & R O C K A W A Y BEACH R Y .— Owns Glendaie Jet. to Kockaway Park. 10.31 m ., with branch, 1.43 m .; total, 11.74 m .; double track.
Stock, $1,0 0 0 ,0 0 0 ; par, $100. Leased 50 years from July 1 1904 by Long
Island R R . Co. , whose endorsem’t is printed on first m tge. bonds. On Jan.
1 1906 $101 .00 0 firsts owned by L. 1 R R were on deposit u n d e n ts unified
m tge., together with $929,667 of the Incomes.
In Oct. 190(. .he remaining
Income bonds and a further amount of stock was acq’tlred; V . 83, p. 890.
Year ending Dec. 31 1906, gross, $582,555; net $166,793; other income,
$7,341; total, $174 ,13 4; balance over charges being u -ed for extraordinary
ex p .— (V . 82, p. 929; V . 83, p. 890.)
N E W Y O R K SHORT LIN E R R .— Owns a ’lUt-ofl for the Reading Co.
between Cheltenham and Neshaminy Falls. 9 ^ miles
opened May
1906.
V . 79, p. 1038. To be 4-tracked, 2 tracks laid at present and on
2 miles 3 tracks. Leased to Phlla. & Reading R y for 999 yt ars Troni Feb. 1
1907. The $250,000 stock is owned by Reading <^o.. which s;uaran^ees the
bonds, principal and interest.— (V . 84, p. 1552.)
N E W Y O R K S U S Q U E H A N N A & W E S T E R N R R .— (See brie M ap.)
Owned (in fee) or entire stock. M iles.] Susq. Connecting r»R____________
8
Jersey City to Gravel P I., P a ____ 101 Other branches______ ____________ 25
(Double track 19 miles.)
I Lines leased. Ac.
B eaver Lake, N . J ., to Unionville 21 iMiddletown U n. & W ater G a p * .. 14
Wllkesbarre & Eastern___________ 6 5 1Trackage _______ _____ _______ ______
2
Total road operated (*see this co.) June 30 1907_____ _________________ 236
S T O C K .— P ref., $ 1 3 ,000 ,000 ; com ., $ 1 3 ,0 0 0 ,0 0 0 , of which the Erie owned
June 30 1907 $ 1 2,378 ,900 com . and $12,892 ,400 pref., of which $6,630,000
com . and $6,63 0 ,0 0 0 pref. are deposited under Its Pennsylvania coll. tr. M .
Dividends on pref., N ov. 1891 to 1892, 2 hi % yearly; none since.
B O N D S .— General mortgage 5 % bonds are reserved to retire the 2d
mortgage 4 ^ s .
See mortgage abstract, V . 52, p. 84. The seconds are
exchangeable for generals on paym ent of an assessment.
A s to terminal bonds listed In Sept. 1893, s e e ‘ Supplem ent” of J a n .1898,
and abstract of mortgage, V . 57, p. 512.
E A R N I N G S .— 2 m o s ., 11 9 0 7 ____________ Gross, $548 ,08 2; net, $140,517
July 1 to A u g. 31.
J1906 ____________ Gross, 4 7 6 ,9 8 1 ; net,
145,440
R E P O R T .— For 1905-06 In V . 83, p. 887, showed, on 238 miles:
Year—
Gross.
Net.
O th .ln c.
Charges.
Bal.,def.
1 9 0 6 - 0 7 .. ............. $3,12 3 ,1 5 9
$844,675
$33,109
$874,545
$3,239
1 9 0 5 -0 6 __________ 2 ,757,925
828,674
4 3,055
896,062 24,333
— (V . 81, p . 1175, 1371; V . 8 2 , p. 452; V . 83. p. 272, 887; V . 85, p. 922.)
N EW TO N & N O R TH W ESTE R N RR — See Fort Dodge Des Moines &
Southern R R .
N IA G A R A JUN CTIO N R Y .— A terminal and switching road extending
from Niagara Falls, N . Y . , to Pletcher’s Corners, N . Y . , 5.15 miles; factory
sidings, 8.74 m . Stock, $160,000 com . and $140,000 8 % cum . pref.; all of
the com . and nearly all the pref. being owned by the Niagara Falls Power
Co.
N o bonas In excess of $500,000 can be issued without the consent of
the entire stock.
Year ending Dec. 31 1906, gross, $60,8 7 9 ; net. $42,360 ;
Int., taxes, & c., $ 1 2,167 ; b a l., sur., $ 30,193 . Pres., D . O. M ills; 2d V .-P . and
Trea*., W . Paxton Little; Sec., F . L . Lovelace. Office, 15 Broad S t ., N .Y .
N O R FO LK & PORTSMOUTH BELT LIN E R R .— Owns Port Norfolk to
B erkley, V a ., 6 miles, and Southern branch extension, 1.37 m . Stock,
$ 4 9 ,6 0 0 , In $100 shares.
Bonds, see table.
Year ending June 30 1906,
gross, $122 ,33 3; net, $48,735 ; Interest on bonds, $12,500 ; other Interest,
$100; taxes. $ 1,887; b a l., sur., $34,248.
N O R FO LK & SOU i lib R N R Y .— Owns Norfolk, V a ., to Edenton, N . C .,
76 miles (ferry across Albem arle Sound to M ackey’s Ferry, 9 m .); thence
road to Belhaven, 30 m .; Norfolk to Virginia Beach, 19 m .; Clapham Jet. to
M unden’s Point, 22 m .; Providence to Clapham J et., 8 m .; M ackey’s Ferry
to W ashington, N . C ., 44 m .; M ackey’s Ferry to Cresswell, 13 m .; former
Chesapeake Transit (electric railway) C om pany, Norfolk to Lynn H aven
Inlet and Virginia Beach, ria Cape Henry, 24 m . (acquired Dec. 1904);
Suffolk, V a ., to Edenton, N . C ., 50 m .; Beckford to Elizabeth C ity, N . C .,
25 m .; Raleigh to Zebulon, 24 m .; leases Atlantic & North Carolina. Beau
fort to Goldsboro, N . C ., 98 miles; total April 1907, 442 miles; 45 m .
equipped electrically, v . 78, p. 1549. 2599; V . 79, p. 1462, 1705
The company is'bulldlng about 187 mlies, to be completed by Jan. 1
1908 . m aking a connected system of 611 miles between Beaufort and
Goldsboro, New Bern and W ashington, Raleigh and W ashington, W a sh
ington and M ackey’s Ferry, Belhaven and M ackey’s Ferry, Edenton, Suf
folk. Elizabeth City and Norfolk; of the new lines 95 miles were in operation
In Sept 1907.
O R G A N I Z A T I O N .— A consolidation N ov. 23 ’ 0 6 , per plan V . 82, p. 929,
o f the Norfolk <fc Southern R R . and the Virginia & Carolina Coast (Suffolk to
Edenton, 51 m ., with branch to Elizabeth C ity, 23 m .) , with the lease of the
[V o l.
RAILWAY STOCKS AND BONDS.
&
&
&
&
&
&
&
&
&
&
&
&
&
&
&
&
&
&
&
&
&
Where Payable, and by
Whom.
lxxxv.
Bondi— Princi
pal, When D u t.
Stock»— Last
Dividend.
SjOffice, 56 Beaver S t. N Y June 1 1992
June 1 1955
D
do
do
AjN ew York Trust Co, N Y Feb ’0 8 -Feb '11
Dec ’ 0 7 -D e c ’ 16
DiMorton Trust Co, N Y
N Manhattan Tr C o, N Y May 1908
Apr ’08-A p r *09
O
do
do
J Grand Cent Station, N Y July 1 1955
June 1 1907 6 %
D Checks mailed
1939
J 26 South loth S t, PhllaiJan
1939
N Checks mailed (see t e x t )‘.Jan
1927
O Grand Central S ta .p N Y Oct
1993
O jGrand Cent Station, N YlO ct
1927
S;U S Mort & Tr Tr Co, N YjSept
Sept 1 1927
Feb
1 1957
A Philadelphia
OjOffice, 11 B r o a d w a y ,N Y April 1 1910
June 1 1910
D
do
do
1911
J ,...................................- ................ July
1937
J
do
do
iJan
1937
!Feb
A
do
do
1940
IAug
A!
do
do
1943
do
IMay
do
Nj
3,000,000,
70,0001
4 4 ,0 0 0 :
327,000;
450,000
5 e
6
5
6
D1
do
do
D
do
do
D
do
do
S
do
do
N V .7 5 ,p. 1043,-V . 8 4 ,p.342
175.000
250.000
5 g
5
A Mercantile Tr Co, N Y
Aug
A ;Fidelity Trust Co, Phlla!Feb
6
iJune
iDec
[Deo
!Mar
N ov
1 1942
1 1910
1 1916
1 1912
1 1933
1922
1938
12,700,000
4 ,800,000
Atlantic & North Carolina, Goldsboro, N . C ., to Morehead C ity, 95 m ., a to
tal of 408 m . in operation, and all the stock and $10,000 ,000 1st m tge. bonds
to be Issued by a lumber co. to own over 600,000 acres of timber land In fee
and about 200,000 acres of timber rights.
The Suffolk & Carolina was taken over Jan. 1906.
The new co. will issue the securities snown in the table above, $14,000,000
bonds and $ 4 ,800,000 pref. stock having been underwritten to provide for
acquirement of property and construction as above. The new bonds will
bq secured In part by all the bonds of the lumber co.; a 9 . 1. to be not less
than $175,000 yearly and estimated to exceed $300 ,00 0.
O f the bonds,
$ 3 ,500,000 will be reserved to retire all outstanding liens and $7,500,004
with $7,300,000 com . and $200 000 pref. stock for future purposes.
Stockholders were, O ct. 23 1907, to authorize the new 1st and refunding
m ortgage, an equipment trust 'mortgage and an issue of collateral trust
notes. V . 85, p. 922.
E A R N I N G S .— The present aggregate net earnings of the acquired prop
erties Is reported as over $ 1 ,050,000; Interest on bonds to be Issued, ln<4.
reserve for refunding. $875 ,00 0: bal. for stock, $175 ,00 0.
Estim ated net
earnings for the first year after the property is completed, $ 1 ,550,000
leaving $675,000 applicable to stock.
Report of Norfolk & Southern R R . was in V . 8 2 , p. 158.
Earnings for
year ending June 30 1906 (223 m iles), gross, $ 1 ,148,922; net, $251,564;
other income, $5,220; charges, $223 ,07 1; b a l., sur., $33,713 .
Loans and bills payable o f N . & S . R R . June 30 1906, $610 ,00 0; car trusts,
$ 3 ,4 8 8 .
„ „
Pres., Frank S. Gannon; Treas., Mathew M anly; Sec., W a lter B .G w y n .
N . Y . office, 37 W a ll S t.— (V . 84, p. 159; V . 85, p. 922.)
N O R FO LK & W E S T E R N R Y .— See M a p .— S ystem extends from N or
folk, V a ., westward to Colum bus, Ohio, and northward to Hagerstown,
M d ., with branches to the various coal fields In Virginia and W est Virgin ia.
Uilet.
Road owned.
M iles.
Roanoke to W i n s t o n ..__________ 121
N orfolk .V a., to Colum bus, O ___ 704
R adford. V a . to Bristol, T e n n .. I l l Sundry branches----------------------- -- 320
4
Roanoke, V a . to H a g e rs to w n ..238 Columbus terminal----------------------T r a c k a g e ------------------------------------16
Graham to N orton___________ ___ 100
N or. Car. Junction to Fries______
44
Total owned June 30 1 9 0 7 ..1 ,8 7 7
Lynchburg to D urham . N . C ___ 115
Portsmouth Jet. to Cincinnati
and Ivory dale_________________ 106 j Double track------------------------------------233
O R G A N I Z A T I O N .— Successor In 1896 of Norfolk & W estern R R .. A a .,
foreclosed per plan in V . 62, p. 641.
On Jan. 1 1907 Penn. R R . and sub
sidiary companies owned $ 8 ,746,000 each of the common and preferred
stocks, about one-half of the holdings having been sold in 1906. V . 83 ,
p . 502.
Branches building June 30 1907, see V . 85, p. 661, 662.
S T O C K .— Provisions of pref. stock were given In “ Supplem ent” o f April
1897, page 4 , said stock being 4 % non-cum . with preference as to assets.
As to Increase of authorized stock in 1906, see "General Finances” below.
D IV I D E N D S .
’ 97 '98 '99 ’ 00 ’ 01 ’02 ’03 ’ 04 ’05
1906
1907
Preferred ( % ) ...........
1
3
4
4
4
4
4
4
4
4
, 4
Common ( % ) _______ __
---2
2hi 3
3
3hi 4 % Jne 2 )4
In 1906, June, 2 % ; D ec., 2 h i% .
B O N D S .— The first consolidated m tge. of 1896 Is limited to $ 6 2 ,5 0 0 ,0 0 0 ,
the balance unissued being reserved to retire the underlying bonds. The
right to Issue prior lien bonds has been annulled. V . 7 3 , p. 5 02 ; V . 74
p. 151; V . 7 5 . p. 505; V . 7 7 , p. 1785; V . 7 8 . p. 229.
The 4 % 1 st consols are a 1st m tge. on a large part of the system , v t*.,
about 868 miles of railroad; upon Important terminals at Norfolk and Lam
berts Point: upon the Ohio River Bridge and the Roanoke Machine W orks:
besides being a consol, m tge. upon 739 miles of the system , subject to the
undisturbed liens. They were further secured by the eauipment (cost over
$ 1 1 ,0 0 0 ,0 0 0 ). See abstract, V . 64, p. 376. V . 7 2 , p. 137, 4 3 8 , 532, 7 23,
1080; V . 75, p. 505; V . 79, p. 213; V . 8 1 , p. 212.
The N . & W .-P ocahontas Joint bonds are secured by about 295,000 acres
ccal lands owned and held by the Pocahontas Coal & Coke C o., whom
.'■k is owned, of which about 5 0,000 acres have been leased to oompanies
use stock Is all owned by the U . S. Steel Corp. and 39,797 to other con
e. rus. the royalties under such leases alone being shortly expected to be suf
ficient to almost meet the fixed charges. They are subject to call at 105
beginning 1906, for a sinking fund of 2 hi centsper ton mined. V . 7 3 , p .845
>02: V . 7 4 , p. 41, 38C, 1.197; V . 75, p. 502. These bonds are the Joint and
everal obligations of the Railway Co. and of the Coal & Coke Co.
•• ••
Divisional l»f lien and gen. mtge. 4s of 1904 ($35,000,000) authorized for
future capital requirements are a 1st lien on extensions and branches not
covered by the 1st consol, m tge. aggregating 220 miles, and upon such ex
tensions and branches as m ay be acquired from the proceeds of the new
bonds and also a lien subject thereto upon the properties covered thereby.
O f the bonds $13,000 ,000 has been sold for Improvements and new equip
m ent. V . 78. p. 1549: V 79. p. 8 0 1 . 628, 973 1642, 1704, 2148; V . 80
p. 1175; V . 82, p. 510; V . 83, p. 1471; V . 84, p. 1367.
A s to convertible bonds of 1907, see “ General Finances” below.
G E N E R A L F IN A N C E S .— O f the traffic In 1906-07 5 8 % (11,775,541
tons) was bituminous coal and coke; average rate per ton per mile, 0.495
cents; train-load, 589 tons. A s to new 4s of 1904. see “ Bonds” above.
In
Dec. 1905 dividend ra teo n common was increased to 4 % and in D ee. 19 0 6
to 5 % .
The stockholders O ct. 11 1906 authorized an Issue of $34,000 ,000 con
vertible bonds and an Increase in the common stock from $ 6 6 , 0 0 0 ,0 0 0 to
$ 1 0 0 ,0 0 0 ,0 0 0 , to provide for the conversion. V . 8 3 , p. 380, 435. 575,
Stockholders subscribed pro rata for $14,576 ,000 of the convertible bonds
at par, payable 40 % Jan. 31 and 60 % M ay 31 1907, the proceeds to be used
for double-tracking and additional equipment. The bonds were under
written. The present Issue Is dated June 1 1907 and matures June 1 1932,
and Is convertible Into common stock, dollar for dollar, prior to June 1
1917, and to be thereafter subject to call at 105 and Interest. V . 83, p.
1412, 1471; V . 84, p. 1248; V . 85, p. 469.
E A R N I N G S .— For 2 m onths ending Aug. 31:
B a l.,su r
Gross.
Net.
In t..ta xes,A c
$1 ,425,235
1907.......................
$ 5 ,9 2 5 ,8 2 6
$2,27 7 ,9 8 2
$852,747
1,104,009
1906______
_____ 4 ,9 3 0 ,1 8 2
1,833,645
729.636
y
105
RAILWAY STOCKS AND BONDS.
OOT,, 1907. j
|V o l .
HAIL WAY STOCKS AND BONDS
I N T E R E S T OR D I V I D E N D S .
R A IL R O A D S .
F or explanation of column headings, & c., see notes
on first page of tables.
M iles Date
of i of
Road. Bonds.
Size, or ;
Par
Amount
Value. Outstanding
Rate
%
When
Payable.
Where Payable, and by
Whom.
lxxxv
.
Bonds— Princi
p a l, When D ue.
! Stocks— Last
I
Dividend.
$ 1 ,0 0 0 1 $1,655,000
M & N Metropolitan Tr Co. N Y May 1 1941
1891
Norfolk & South— (Con.)— 1st mort $ 1 ,970,000g.M p .c*
5 g
1,000
2,865,000
J & J Guaranty Trust Co, N Y July 1 1954
1st gen. M .g.red 1 1 5 _________________________________ G
1904
5 g
April 1 1911
A & O
6
90.000
1886
Suffolk & Carolina first m ortgage. _______ ___________
650.000
J & J International Tr C o,B alt July 1 1952
First consol mortgage $1,000,000 gold red at 110c*
75 1902 " ‘ l'.ooe
5 g
1957
1907
14,000,000
N & S 1st and ref M $25,000 ,000 g red 110 s f . . ____ Ta
5 g
J’ne 19’07 2 H %
& D Office, Philadelphia
100 64,469,200 See text J
(Norfolk & W estern Ry— Common stock $ 1 0 0 ,0 0 0 ,0 0 0 0
Aug 16 1907 2 %
do
do
A djustm ent preferred 4 % non-cum $ 2 3 ,0 0 0 ,0 0 0 .. G
100 22,991.100 4 in 1907 F & A
M & N Mercantile Trust Co, N Y M ay 1 1931
1,000
7 ,283,000
N & W gen (now 1st) M Norfolk to Brls. etc g_F P c*
428 | 1881
6 g
do
do
April 1 1932
1,000
2,000,000
A & O
New River Division flrst mortgage g o ld _ .F P .c *
197 1882
6 g
do
do
Feb 1 1934
F & A
1,000
5.000.000
Im provem ent & Extension mortgage g o ld ..F P .c *
588 1883
6 g
do
do
Nov 1 1989
M & N
1.000:
5 .000.000
Scioto Valiev & New Eng 1st M assumed gold.C e.c*
129 1889
4 g
Oct 1 1996
do
do
500 &c! 40,400,500
A & O
4 g
N & W first consol M $62,500 ,000 gold____ Me c*& r 1,608 1896
do
do
July 1 1944
J
&
J
4 g
D lv 1st lien & gen M (text) g red 105 begin 1 9 2 9 . . G 1,827 1904 1.000 &c| 13.000.000
do
do
& D
Dec 1 1941
J
Pocah joint M $20,000 ,000 g call 105 s f_ .G P .c * & r
1901
1 000 19,778,000
4 g
&
J Metropolitan Tr Co. N Y Jan 1 1922
500
600,000
J
Col Con & Term 1st M gold guar p & I (e n d ).M p .c '
1892
5 g
& D Mercantile Tr. Co. N Y June 1 1932
J
Convertible bonds, $ 3 4 ,0 0 0 ,0 0 0 , gold red. t e x t ____ G
1907 1.000 &c; 14,576,000
4 g
M & S Fidelity Trust Co, Phlla Sept 1 1908-’ l l
1,0001
2,000,000
Equip trusts gold $500,000 yearly beg 1B 05..F P .C *
1902
4 g
do
do
Jan 1 1908-1913
&
J
J
1,000
700.000
do
Series A , gold due $100,000 yearly__FP
1903
4 g
do
do
IMar 1 1908-1913
M &
1,000
700 000
do
Series B gold due $100,000 yearly____ FP
1903
4 g
A & O Commercial Tr Co, Phlla'Apr 1 1908-1915
1905
1,000
1,600,000
do
Series C gold guar p & 1 due $200,000 y ’rlyf
4 g
do
do
;Nov 1 1908 1915
800.000
M & N
do
Series D gold $100,000 yearly____________
1905
1,000
4 g
do
do
|Dec 1 1907-1915
do
Series E gold $100,000 yearly______________
1905
J
& D
1 000
900.000
4 g
do
do
iTo Aug 1916
F & A
do
Series F to K g gu $100,000 each 6er yriy.,
1,000
4 .500.000
1906
4 g
■Norristown & Main L Con— 1st M g guar p & I(end) QP
250.000
1902
1,000
M & S Reading Terminal, Phlla,Sept 1 1952
4 g
Aug 1 '07 3 V i%
F & A Burlington. N C
100
4,000,000
7
North Carolina— Stock, 7 % , paid from rental__________i
223
8
Q— F Office, 240 S 3d S t, Phila'Aug 26 1907 2 %
North Penn— Stock 8 % g u a r 990 years $ 6 ,000,000 auth
50
5 ,405,550
86
do
do
iMay 1 1936
4
500 &c
1.500.000
M & N
Old second M. now flrst M (7s extended In 1 8 9 6 ) . . C:
56 1866
do
do
IJan 1 1953
4 .500.000
& J
3 .3 g. J
■General mortgage extended In gold In 1903____ c&r
86 i 1873
do
do
!Nov 1 1928
4
Funding loan bonds $ 4 0 9 ,0 0 0 ._______ _______________
M & N
391.000
1895
92,618
•Real estate mortgages and ground rents July 1906
North Shore RR— See Northern Pacific R R .
M & S ............................. ..................... Mch 1 1942
North Shore Cuba— 1st M $ 5 ,000,000 g red t e x t______F
1,000:
See text;
5 g
1907
A & O Phlla & Reading, Phila April 1 1920
North East Penn— 1st M gold guar P & R(end) .G u P .c*
1,000!
400,000
5 g
26 1890
& J J P Morgan & Co, N Y July 1 1928
Northern Ala— 1st M ($350,000 are prior lien)____ K .c
1 ,0 0 0 1 1 .650.000 See text. J
107 1896
Q— J
1023 Old So Bldg, Boston Oct 1'07 1 H %
100:
3 ,068,400 See te x t.
Northern (N H )— Stock 6 % rental_____________________
& J Treasurer's Office. Balt
Ju ly 15 ’07 4 %
Northern Central— Stock ($20,000,000 authorized)___
5 0 1 19,342 569! See text. J
Q— J
Annapolis
Irredeemable
First mortgage State of Maryland loan— V 74 ,p 1197
144' 1855
1.500.000:
6
1 .7 5 7 .0 0 0 1
4 ^ g A & O Treasurer’s Office. Balt
April 1 1925
1 4 4 1 1885
1,000
Con gen M of 1874 g Ser E ___.
__ _________________ c
J
& J
do
do
Jan 1 1926
3 .565.000
5
Second gen M Series “ A ” <% " R ” (A $ 2 ,5 6 5 ,0 0 0 )-F P
144 ’7 6 - ’82
1.000
N O R FO LK & W E S T E R N R V. (Concluded)___
R E P O R T .— Report for 1906 -07 , V . 85, p. 6 5 1 ,6 6 0 (see editorial, p. 630.)
Year ending June 30—
1907.
1906.
1905.
1904.
-Miles June 3 0 ____________
1,876
1,861
1,833
1,769
Passenger earnings______$ 4 ,163,119
$3,5ft8,558
$3 ,1 5 8 ,7 7 3
$3,150,859
Freight earnings________ 26,00 0 ,9 4 5
24,111,801
2 0 ,249,399
18,894,941
M all, express, & c_______
1 ,000,316
777,407
681,088
673,175
Total gross earnings..$ 3 1 ,1 6 4 ,3 8 1 $ 2 8,487 ,766 $24,0 8 9 ,2 6 0 $ 2 2 ,718 ,977
O per. expenses & taxes. 20,51 0 ,5 3 6
17,799,623
15,285,434
14,344,730
f"-T o ta l net e a r n i n g s ...$ 1 0 ,653 ,845 $10,6 8 8 ,1 4 3
$ 8 ,803,826 $8,374,247
T o ta l net incom e________ $10,742 ,791 $10,8 5 3 ,4 8 8
$ 9 ,014,399 $8,521,479
Interest on funded d e b t.
3,2 2 2 ,8 0 7
3 ,0 6 9 ,1 4 7
2,8 6 2 ,9 3 3
2 ,603,510
492,889
316,641
226,667
156,889
Interest on car trusts___
D ef.Int.P oc.C .& C .bonds
218,000
188,000
216,000
295,595
D lvs. on pref’d ( 4 % ) . . .
919,644
919,644
919,530
919,524
Dividends on com m on . (5)3 ,2 2 3 ,4 6 0 (4)2,578,768 (3)1,934,076 (3)1,934,076
R ents ___________________
26,778
15,323
_______
_______
Betterment fund, & c _ ..
1 ,2 4 6 ,6 5 2
2 ,950,000
2,2 5 0 ,0 0 0
2 ,000,000
D iscount. & c____________
47,211
55,786
160,197
87,167
Balance, surplus______$ 1 ,345,350
$760,179
$444,996
$524,719
O F F IC E R S .— Pres . L. E. Johnson; Chairman of Board, Henry Fink, 27
W illiam S t .. N. Y .: V .- P ., W m . G. Macdowell; Sec., E . H Alden; Treas.,
Jos. B. Lacy.
General office. Roanoke, V a .; Philadelphia office. Arcade
Building. Market and 15th streets.
Directors— Henry Fink, Victor Morawetz, Levi C. W eir, New York; L. E.
Johnson, Roanoke, V a .: Sarmiel Rea, W . G. Macdowell, Joseph I. Doran
and John P. Green, Philadelphia; Joseph W o o d , Henry C. Frick, Pitts
burgh; W alter H . T aylor, Norfolk, V a .— (V . 85, p. 339, 469, 651, 660.)
N O R R ISTO W N & M AIN LIN E C ONNECTING R R .— Owns road 3,405
feet long. Including bridge over Schuylkill River, extending from Norris
town to a connection with the main line of the Phila. & Read, at a point
above Bridgeport, Pa.
Leased to Phlla. & Read. R y. at 4 % on stock and
interest on bonds. The Reading Co. owns all the $50,000 stock and guar
antees the bonds.— V . 75, p. 1148.
NORTH C A R O L IN A R R .— Owns from Goldsboro to Charlotte, N. C .,
22 1 .6 5 m .; Caroleigh J et.. N. C .. to Carolelgh Mills, 1.90 m ; total, 223.55
miles.
Leased from Jan. 1 1896 to the Southern R y. Co for 99 year* at
<266,000 (6 ,4 % on stock> per year till Dec 31 190 i, an^ $ 2 8 6 ,0 0 0 (canal to
7 % on stock) nalancr of lease, also taxes. V . 63, p. 361.
State of North
Carolina holds $ 3 ,000,000 stock.
(V . 66 p. 665.)
NORTH P E N N S Y L V A N IA R R .— Owns from Philadelphia. P a ., to B eth
lehem , P a ., 56 m .; branches to Delaware River, & c., 31 m .; 2d track, 75.16
m .; 3d track, 13.68 rn.; total track, 239.41 m . Leased for 990 yrs. from May
1 1879 to Phila. & Reading R R . at 8 % on stock, and lease assumed in 1896
b y Phlla. & Reading R y . Current liabilities June 30 1906, $35 4 ,9 6 7 .— (V .
73, p. 1160; V . 75, p. 1354; V . 78. p. 821: V . 81, p. 559, 668.)
NORTH SHORE R R . (Narrow Gauge)— In Jan. 1907 the road, with the
California & Northwestern and other roads, was taken over by the North
western Pacific R R , which see. The interest on the 5s of 1902 was de
faulted a second time in M ay 1905, cash for principal and Interest being de
posited with the trustee, which declared the bonds due and payable.
V . 80, p. 1913.
For year ending June 30 1906, gross, $741 ,84 7; net, $183,120; Interest
and taxes, $304 ,57 2; bal., def., for year, $ 1 2 1 ,4 5 2 .— (V . 84, p. 103.)
NORTH SHORE R R ., C U B A .— To build from M ayanabo B ay, north of
N uevitas, west through Cubitas V a lley to Caribarrien, a point in Province
o f Santa Clara, about 250 miles, with 50-m ile branch from Senada to iron
mines south of Cubitas Mountains. Construction to begin May 1907.
Stock, $ 2 ,5 0 0 ,0 0 0 , all outstanding: par, $100. The Cuban Government
will pay a subsidy of $6,000 per kilometer constructed, in 6 annual paym ents.
Bonds are subject to call at 106>$ and interest after 10 years: sinking fund
3 % of gross earnings is payable yearly: V . 84, p . 571. President C. D .
Gibbons, 106 W a ll S t ., N . Y .; Secretary, A . Price; Treasurer, J. E . W h ite.
<V. 84, p. 571.)
N O R TH -EA ST P E N N S Y L V A N IA R R.— Owns road from Glenslde to
N ew H ope, P a ., 26 miles. Controlled by Reading Co. Capital stock,
$ 4 0 0 ,0 0 0 , of which $318,950 owned by Reading Co.; par, $50.
N ORTH ERN A L A B A M A R Y .— Sheffield to Parrish. A la ., and branches,
119 miles.
In April 1899 a m ajority of stock and bonds purchased by the
Southern R y .
V . 68, p . 824. 873. See also V . 69, p. 391.
Stock Is $ 2 ,0 0 0 ,0 0 0 .
Under supp. m tge. of 1898 $400 ,00 0 of the ou t
standing $1,70 0 ,0 0 0 1st 5s were made prior liens.
Remaining $ 1 ,300,000
gen. Hen bonds bear Int. for two years from July 1 1898 at 2 % , then 3 % for
tw o years: thereafter 5 % . V . 67, p. 1208.
In year ending June 30 1B07,
gross, $605,:t75; net, $105 ,55 2.
In 1905-06, net, $ 9 8,701 .
(V . 69, p. 28.)
N ORTH ERN (N . H.) R R .— Owns Concord, N . H ., to W hite River J et.,
V t., 70 m .; branch to Bristol, N . H ., 13 m .; total 83 miles. Subsidiary lines,
Concord & Claremont R R ., 71 m .- Peterborough <Sc Hillsborough R R ., 19 m .
Lease to Boston & Lowell for 99 years from Jan. 1 1890 was assigned to
Bos. & M e., rental was 5 % on stock till July 1 1897, and now 6 % . payable In
g old .
Unttl July 1897 1 % extra was paid regularly from contingent rund.
Also In 1894, Jan .. 5 % extra was paid; In 18'd6, July. 2 % extra; in 1897, 5 %
extra- In July 1904, H % extra.— (V . 65, p. 463 V . 78. p. 2385.)
N ORTH ERN C A L IF O R N IA R Y .— See Southern Pacific R R .
N ORTH ERN C EN TR AL R Y .— Owns Baltimore, M d ., to Sunbury, P a ..
136 m ., of which 132 m . double track— branch. 9 m .: leases— Shamokln V a l.
& P ottsv. R R .. 38 m .; Elmira & W ’msport R R . 76 m .; operates at cost—
Elm ira & Lake O nt. R R ., 100 m .; Lykens Val. R R .. 19 m .: also since June 1
1902 York Hanover & Frederick R R ., 56 m .; York branch Penn. R R .
Y o rk , P a ., to Colum bia, 13 m .; other, 4 miles: total, 450 miles. Also uses
N . Y . L . E . & W . tracks, 7 m .
Northern Cent. Connecting R R . C o ., Incorporated on May 12 1903 with
#350.00') authorized stock. Is building front a connection at Selinsgrove Jctn.
t o the main line of the Penn. R R ., 35 miles. V . 7 8 , p. 773.
O R G A N I Z A T I O N .— A consolidation of several roads In 1854.
Con
trolled by the Penn. R R ., which owns a m ajority of the stock.
S E C U R IT IE S O W N E D .— On Jan. 1 1907 among the assets held were
Elmira & Lake Ont. stock (all), $1,5 0 0 ,0 0 0 ; Sham . Val. & Pottsv. stock,
$619 ,65 0: Union R R . stock, $ 1 ,225,000 (the bal. of $875,000 being held by
Phlla. W llm . & B a lto .). &c. Also the following, m ostly acouired in 1900:
B alt. & Ohio pref. stock, $ 1 ,0 0 0 ,0 0 0 , and com ., $1,0 4 8 ,7 0 0 : Norf. & W e st,
pref. $500 ,00 0, and com ., S I ,0 0 0 ,000;E rie & W .T ran sp . Co. stock, $ 5 00 ,00 0.
S T O C K .— Authorized Issue was Increased In Feb 1900 from $ 8 ,000,000
to $12 ,0 0 0 ,0 0 0 : Penn. R R . on Jan. 1 1907, owned $ 9 ,4 0 1 ,9 r>0. The stock
holders m N ov. 1903 voted to Increase the authorized stock from $12,000 ,000
to $ 2 0 ,000 ,000 .
O f the new stock, $5,731,125 was subscribed for at $62 50
per $50 share in June 1 9 0 4 ,the proceeds being used to pay ol! $ 2 ,000,000
bonds maturing July 1 1904, purchase $ 1 ,562,000 o f the $ 2 ,000,000 ou t
standing Shamokln Valley & Pottsvllle R R . 3 H % bonds not already
ow ned, and provide for improvements and equipment. V . 7 7 , p. 1875;
V . 7 8 , p. 1907.
In Jan. 1907 $2,149,169 was Issued as a 1 2 % stock divi
dend. raising the amount outstanding to $ 1 9,342 ,569 . V . 8 3 , p. 1471.
D IV S . 1888 '89 '90 ’01 ’92 '93
1894 to 1900
1901 to July 1907
Per cen t.
7
8
7
7
8
8
7 yearly
*8 yearly (J&J)
*
Also Jan. 1907 1 2 K % paid In stock.
In Mar. 1906 the question of
Increase In the dividend rate was referred to the board. V . 84, p. 508.
E A R N I N G S .— 8 m o s., 1 1 9 0 7 ..................Gross, $ 8 ,7 8 1 ,7 4 5 ; net, $ 1 ,723,892
Jan. 1 to A u g. 31.
J1906............. ..G r o s s . 7 ,5 1 2 ,5 4 5 ; net, 1,740,792
A N N U A L R E P O R T .— Fiscal year ends Dec. 31. President’s report for
1906 given at length In V . 84, p. 504, 513, showed the following:
Year ending Dec. 31—
1906.
1905.
1904.
1903.
462
462
448
450
Miles of road____________
Gross earnings.................... $11,632 ,633 $10,531 ,962 $10,174 ,524 $ 1 0 ,234 ,459
Net earnings____________
2 ,654,255
2 ,061,396
2 ,345,271
2,260,581
Other receipts....................
1 ,151,602
1 ,157,418
843,049
875,130
Total net Income____ $ 3 ,805,857
R entals, & c.........................
$471,253
368,277
Interest on debt, & c____
Dividends. 8 % .............
1.375,468
Taxes and miscellaneous
260,763
1 ,100,582
E x tr a o rd in a ry............. ..
$ 3 ,218,814
$368,998
360,182
1 ,375,468
261,071
827,721
$ 3 ,188,320
$420,180
494,512
1,146,224
206,721
920.681
Balance, surplus...........
$229,511
$25,374
N one.
— (V . 83, p. 1412, 1471; V . 84, p. 103, 391, 504, 508, 513.)
$3,135,711
$494,760
591,105
916.980
212,979
908,484
$11,405
NORTH ERN R R. OF N E W J E R S E Y .— Owns from Bergen, N . J ., to
Sparkill, N . Y . , 21 m .; leases Sparklll to Nyffck, 5 m .
Leased to the Erie
R R . from June 1 1899 for the term of Its corporate existence, for Interest
on bonds, 4 % on $1,000,000 stock, payable quarterly, taxes, and all cor
porate expenses. O f the $1,000,000 new 4 H % gen. m tge. bonds, guaran
teed by the Erie, $654,000 are reserved to retire the 6s due July 1 1917, and
the remainder for Improvements and betterments or equlpm ’t for operation
by electricity of the leased properties. See V . 6 9 , p. 8 1 .— (V . 71, p. 30.)
NORTHERN R Y . COSTA R IC A .— See V . 71, p. 1067, and United Fruit
C o.: V . 75. p. 849: V . 78, p. 288; V . 8 0 , p. 223; V . 8 1 , p. 61 -1.
N ORTH ERN OHIO R A I L W A Y .— (See M a p Lake Erie A Western.) —
Owns Akron to Delphos, O ., 165 miles; branches, 2 miles. Leased In per
petuity to L . E . & W . , which guarantees the bonds. V . 62, p. 826.
S T O C K .— Com m on stock (all owned by L . E . & W .) , $3,580 ,0 0 0 : pre
ferred non-cum ulatlve 5 % stock, $650,000: par of each, $100.
B O N D S .— The first mortgage Is for $ 4 ,0 0 0 ,0 0 0 , of which $1,500,000 u n
issued are limited to $15,000 per mile of completed road hereafter con
structed or purchased. Operated as part of L . E . & W .
V . 66. p. 337.
NORTH ERN PACIFIC R A I L W A Y .— (See M a p s .)— Operates one of the
leading lines to the Pacific, having Its eastern termini at St. Paul, M inn.,
and D uluth, W ls. (the head of Lake navigation), and running thence west
erly, traversing the great wheat belt of Minnesota and North D akota, the
mining district of M ontana and the farming country of Washington to
Tacom a and Seattle, and to Portland, O re., with branches to W innipeg,
&c. The system comprises:
M a in lin e .
M iles. I Leased to others.
M iles.
Ashland, W ls
to Portland.
ITo other com panies......................
9
Ore. (lncl. 5 m . terminals) . .2 .1 7 1 (To Province of M anitoba_______ 355
Bralnerd and Staples to St.
Not operated------------------------------22
P a u l ............................................. 181 I
--------Other lines______________________
411
Total (Inc. 48 m . trackage) - 5,834
----------! Controlled properties—
Total main lin e .........................2,766 W ash . & Col. R .(m erged J'iy 1) 16!»
Various branches........................... 2 . 6 8 2 ) Minn. & Intern. (V . 77. p. 451) 174
--------- - Other companies________________
44
T o ta l, lncl. 17 m . trackage
I
---------(operated d ire c tly )..............5 ,448 iTotal system June30 19 0 7........... 6.221
ISecond track____________________
246
The M anitoba branches, aggregating 354 m ., were leased for 999 years
from May 31 1901 to the Provincial Government and sub-let by the latter to
the Canadian Northern R y. at a rental of $210,000 annually for the first 10
years, then $225,000 for 10 years, then $275,000 for 10 vears and thereafter
$ 300 ,0 0 0 . with option of purchase any time for $7,000 ,0 0 0 . V . 73. p. 6 1 0
On July 1 1900 the S t. Paul & Duluth R R ., S t. Paul to D uluth, & c .. 2#8
m ., was merged, and on July 1 1907 the W ashington * Columbia R iver,
their bonded debt being assumed. V . 70, p. 1250; V . 7 1 . p. 648: V . 84.
p. 1553.
Portland &-Seattle R y ., joint line with Great Northern, building
from Portland to Spokane, W a sh ., with branches: total, 415 miles; see V . 81.
p. 1101; V . 83, p. 1111.
N or. Pac. part of joint line with Union Pacific.
Culdesac to Grangevllle, 55 miles, to be completed in 1907; also Big l ork
R iver, M inn., to International Falls. 34 miles.
In O ct. 1906 acquired Port Angeles & Peninsular, projected 125 miles,
and Port Angeles & O lympia, 97 miles. V . 8 3 , p. 1099.
H I S T O R Y .— This W isconsin com pany on Sept. 1 1896 succeeded to the
railroads, land grant and other property of the Northern Pacific R R .
foreclosed In July 1896, and reorganized per plan In V . 6 2 , p. 580.
GOT.
UK) 7. |
R A IL R O A D S .
I N T E R E S T OR D I V I D E N D S .
F or explanation of column headings, & c., see notes
on first page of tables.
•Northern of New Jersey— Stock guar (see V 69, p 81)
Third mortgage (now first) interest guaranteed___c
Gen M $1.000,000 gold Int guar by lease____ U sm .c'
Northern Ohio— 1st M g ($15,000 p m) gu p & l__C e.c*
Northern Pacific Ry— Stock $250,000,000 au th _______
St Paul 4 N P gen M land grant a ssu m ed .. Co c*& r
do
do
r e g i s t e r e d ..___ __ ___________
W ash Sc Columbia River 1st M gold assumed___ F.c*
New mortgages of Northern Pacific R y —
Prior lien M $ 130 ,00 0,00 0 gold land g r ..M e .c * & r
General lien M $190 ,00 0,00 0 gold land g r . _F.c*& r
S t Paul-D u!uth D iv pur money M $20 0 0 0 ,0 0 0 .G.c*
C B & Q coll tr M g (red aft Jan ’06 at 1 0 5 ) ..S c&r
do
do
registered________ ._ _______
Bonds Underlying St Paul <fe Duluth D iv Mortgage
S t Paul & Duluth first mortgage assumed_______c*
Second mortgage assumed___________ _______ Ce.c*
T aylor’s F & L Sup 1st M s f not drawn____ Ce.c*
Duluth S L 1st M p & 1 sink fd not d ra w n ..C e.c*
Consolidated M assumed $5,000 000 g o ld -.M p .c *
Car trusts Including interest June 30 1907________
Northern Pac Term Co— 1st M gold red at 1 10 ____ F.c*
Northern Railway (Cal)— See Southern Pacific R R .
Northern Securities— Stock $ 3 ,9 5 4 ,0 0 0 ___________ _____
Northwestern Coal Ry— 1st M guar (end) gold___ F.c*
Northwestern Pacific— Stock ($ 3 5 ,0 0 0 ,0 0 0 )____
F
Cal Northw 1st M g guar by St F & Nor Pac s f _____
San Francisco & Nor Pacific 1st M gold s f_M e.c*& r
North Pacific Coast gen M (now 1st) g o l d _________ c
Eel River & Eureka first m ortgage____
.
______
lst& re f M ,$35,000 ,000 g red 110 aftr 10 y r s.F x c *& r
Northwestern RR of So Car— First M $ 3 7 5 ,0 0 0_______
Norwich & Worcester— Preferred stock 8 % rental___
Bonds (not M) Int guar under lease currency____ c&r
Norwood & St L— 1st M $300,000 g red 110 in 10 yrsTa
Nova Scotia Eastern— First mortgage gold red (text)
p Berlin at 4 .20 marks per dollar
z 5,130 miles. In
MUes Date
of
of
Road. Bonds.
~2\
__
107
1887
1900
1895
182
182
163
1883
1883
1895
See *
See z
226
1896
1896
1900
1901
1901
...
167
167
21
25
238
1881
1887
1884
1886
1898
’9 8 - ’99
1883
:::
in
1893
"40
165
90.5
1898
1889
1892
1894
1907
1899
Size, or
Par
Amount
Value. Outstanding
$100
100 &c
1,000
1,000
100
1,000
1.000
1,000
1,000
1,000
1,000
1,000
1,000
1,000
100
1.000
100
1,000
1,000
1,000
i load &c
1,000
100
1897
1,000
7H
1902
500 &c
T ext.
1905
£1 0 0
cludln g 40 m lies not o
'6 5
72
R E P O R T .— Report for 1906-07 In V . 85. p. 916; also "C h ronicle” Oct. 26.
Years end. June 30.
1906 07.
1905-06.
1904-05.
1903-04.
A v er, miles oper.
5,444
5,401
5,315
5,262
Passenger earns- $ 1 6 ,924 ,188
$14,368,221
$11,335 ,852
$11.105 ,753
Freight earnings. 4 8 ,3 9 5 ,8 7 8
4 4 .041,467
36,861,132
32,998,921
M all, express, & c .
3 ,214,766
2,813,788
2,525,902
2,419,900
Gross earnings. $ p8 5 34,83?
Net earn in gs_____ $30 87 1.515
T a x e s ........ ..............
2.3 9 8 .7 1 9
Rentals, & c______
l $0,469
Deprec. of equip.
*5,926,752
Insurance fund ...
____ _____
$61,223 ,476
$30,128 ,043
2,213,040
160,469
2 000,000
1.081,980
$50,722 ,886
$23,914 ,127
1,601,000
160,469
$46,524 ,574
$22,2 90,031
1,462,775
158,369
N et oper. i n c .. $22,384 ,574
Mis..exc.land sales
2 ,338,324
$ 2 4 ,672 ,554
1,719,346
$22,152 ,658
1,921,567
$20,668,887
1,483,354
B al..sur.for y r .
$6,697,176
,
$ 2 6 ,391 ,900
$ 2 4 ,074 ,225
$22,152,241
6 ,986,140
6 ,947,983
6 ,922,930
(7)10,850,000 (7)10,850,000 (7)10,849,989
$ 8 ,555,760
$6,270,241
$4,379,322
♦Charged to profit and loss, but shown for purposes of comparison.
D IR E C T O R S .— John S. K ennedy, Arthur C. Janies, George F. Baker,
W illiam Sloane, J. Plerpotit Mortran Jr., Lewis Cass Ledyard, Howard Kill
-ott, Charles Steele, George. W . Perkins. William P. Clough, Janies N . Hill,
A m o s Tuck French, Alex. S. Cochran. Payne W hitney and Grant B. Schley.
O F F IC E R S .— Pres., Howard E lliott, S t. Paul, M inn.; V .- P ., James N .
Hill: S e c., Georire H . Earl, New York: T reas., C. A . Clark, S t. Paul.
N . Y office, 34 Nassau S t.— (V . 85, p. 601, 916, 922.)
N ORTH ERN PACIFIC T E R M IN A L C O M P A N Y . OF O RE O O N .— Owns
terminals on the W illam ette River, O re., at Portland, East Portland and
A lbina, comprising lands 270 acre*, trackatre 36 miles, dock frontage 7,904
feet. Station at Portland, O re., opened 1896. V . 6 9 . p . 2 30, 441.
Rate
%
4
$1,000,000
654,000
6
154,000
4^ g
2,500.000
5 g
See text. 7 In 1907
8,021 000
6 g
6 g
'2 ,4 9 8 ,0 0 0
4 g
500 &c 105,979.500
500 &c 60,000.000
1,000
7,577.000
1,000 &e 1107613 000 /
1,000 &c )
\
The original Northern Pacific Com pany was chartered b y Congress July 2
1864; 450 miles to Bismarck were foreclosed In 1875.
S T O C K .— The $75,000 ,000 preferred stock was paid oft at par on Jan. 1
1902 , the common being Increased from $80,000 ,000 to $15 5 ,0 0 0 ,0 0 0 . V .
7 3 , p. 1062, 1100; V. 74, p. 41; V . 78, p. 1223.
On Jan. 7 1907 the author
ized stock was Increased from $155,000,000 to $ 2 5 0 ,00 0,00 0. See below.
Stockholders were ottered the right to Jan. 15 1907 to subscribe pro rata
for $ 9 3 ,000 ,000 new stock at par, payable 5 % Feb. 1 and 7J ^ % April 1
1907, and the remainder In Installments of 1 2 H % each on July 1 and Oct. 1
1907, and the first days of J an ., April, July and Oct. 1908 and Jan. 1909.
Paym ents to and Including O ct. 11907 could be anticipated if m aae on any
preceding instalment date. V . 83. p. 1471, 1524; V . 84, p. 221.
The Union Pacific system In Mch. 1907 owned $4,152,800 stock. V . 83,
•p. 1322, 1352; V . 84, p. 508.
D IV I D E N D S .— '98. ’ 99. ’00. ’0 1 . ’02. ’0 3 . ’04. ’0 5 . ’06.
1907.
O n com m on___ p. c. 0 2
4
4 5 ^ 7 6 ^ 7 7
7
__ _ .
O n pref.(retired) p .c. 5
4 4 (Q .-M .) 4 1 ( f i n a l ) _____
B O N D S .— Abstracts of the new Prior Lien and General Lien mortgages
o f 1890 were In V . 63, p. 1012-1019, and the statement to New York Stock
Exchange was In V . 63, p. 1072, showing;
Prior lien 4 % s purchasable with land sales at not exceeding
110 (but not subject to call), not over $500,000 cash yearly
to be so applied. Total Issue................................... .......................... $ 130 .00 0,00 0
Issued (of which $1,552,000 In treasury June 30 1907 ).................. 105,979,500
4,170,500
Issued, but purchased and canceled_________ _____________ _____
Reserved to retire St. Paul & N . P. and W est. R R . bonds____
8,3 5 0 ,0 0 0
For new construction, betterm ents, equipm ent, & c., under
carefully guarded provisions, but not exceeding $ 1 ,500,000
per annum . Originally $25,000.000— still held____________
11,500,000
O f the $190 ,00 0,00 0 general lien bonds, $ 130 ,00 0,00 0 are reserved to
retire the prior lien bonds at m aturity.
The St. Paul & Duluth Division mortgage secures $20,000 ,000 purchase
money bonds on the former St. Paul & D uluth, of which $9,21 5 ,0 0 0 were
issued to acqulrethe road, $ 5 ,283,000 are reserved to retire existing St. P .
& D . bonds and the balance for improvements to the property. V . 70, p.
1250; V . 71, p. 1167. The lands included in the grant of the former S t. Paul
& Duluth are estimated to be worth about $ 4 ,0 0 0 ,0 0 0 , and were not cov■ered by the old mtges. They are to be sold and proceeds applied to pur
chase of the bonds at not over 105 and Interest, or If not purchasable at
th at price, then to betterments. Improvements or additions to the m ort
gaged premises or equipment therefor. T o July 19)7 $ 2 ,303,000 had
been thus purchased and canceled. V . 71, p. 1167; V . 72, p. 339.
L A N D G R A N T .— The land grant was 12.800 acres to the mile In the
States of Minnesota and Oregon and 25.600 acres per mile In the (then)
Intermediate territories. The acres on June 30 1906 not yet sold were:
M in n eso ta................ .................
27,855 [W a s h in g to n ________________ 2,247,961
North D akota_______________
8,295 Oregon _____________________
24,258
M ontana ____ - _____________6 ,653,397 1
I d a h o ________ ______________ 583,5 9 8 , Total west of M o. R iv e r .9,545,663
Land sales In year 1906-07 aggregated 140,920 acres; net amount received
from sales and land contracts, $1,703,202.
F I N A N C E S .— In 1904 N or. Pac. and G t. Northern had acquired $ 107 .012,600 of the $110 ,83 9,10 0 stock of Chic. Burl. & Quincy R R . In exchange
for their joint 20-year 4 % gold bonds secured by the deposit of the stock in
tru st, on the basis of $200 In bonds for each $100 stock. See circular,
V . 72. p. 871, 1034, 1135; application to list, V . 73. p. 294; V . 73. p. 610.
V . 85, p. 601.
Stockholders were In Jan. 1907 offered $ 9 3 ,0 0 0 ,0 0 0 new stock at par,
payable in installments to Jan. 1909, inclusive. See "S t o c k ” above.
E A R N I N G S .— For 2 mos. ending A u g. 31 1907, gross, $ 1 3,912 ,343 ,
against $11 600 845 In 1906.
Bal. for Int____ $24,722 ,898
Interest, etc
.
7.175,722
D iv . on com. stk. .7) 10,850.000
107
RAILWAY STOCKS AND BONDS.
1,000,000
2,000 000
210,000
500 000
1,000,000
36.176
3 ,566.000
4
3
4
4
4
g
S
g
g
g
When
Payable.
Q— M
& J
&
J
& O
Q— F
F
& A
Q— F
J
&
J
J
J
A
J
J
F
5
5
A
6
J
5
M
J
4 g
4)4 & 5
J
6 g
Where Payable, and by
Whom.
1
Bonds— P rinci
pal. When Due
Stocks— Last
Dividend.
11 Broadw ay, N Y
Sept
do
do
July
• do
do
Jan
Chase National B a n k .N Y Oct
J P Morgan t& Co, N Y N ov
do
do
Feb
Feb
do
do
Farmers’ L & Tr Co, N Y|July
J P Morgan, N Y ; & Berp Jan
Q— J
Q— F
Jan
do
do
& D
do
do
Dec
July
& J
do
do
do
do
July
Q— J
&
&
&
&
&
&
1907 1 %
1 1917
1 2000
1 1945
1'07 1 M %
1 1923
1 1923
1 1935
1
1
1
1
1
1997
2047
1996
1921
1921
A J P Morgan & Co, N Y Aug 1 1931
O
do
do
Oct 1 1917
Jan 1 1914
J
do
do
S
do
do
Sept 1 1916
D
do
do
June 1 1968
To 1909
J W inslow ,L anier& C o,N Y Jan 1 1933
3,954 000 See tex t. See text. Checks mailed
794.000
M & N Farmers’ L & Tr Co, N Y
5 g
3 5 ,000,000
5 g
A & O San Francisco & N Y
981.000
5 g
J
&
J New Y o rk & Frankfort
3,858,000
5 g
1,498,000
5 g
J
& J Co’s office, San Francisco
313,000
A & O
10,000,000 " " 4 'A S M & S New York
285,000
4
A
& O Safe Dep & Tr Co, Balt
Mecli N at B k, Worcester
3 ,000,000
8
Q— J
1,200,000
4
M & S C om pany’s Office. Boston
A & O City N at B k , W a tert.N Y
100,000
5 g
J & D 30
(?)
5 g
*$361 000 ad d’l in treasur
perated; sp urs, 261 miles.
Jan 10 1907 5 %
May 1 1923
19-17
April 1 1928
Jan 1 1919
Jan 1 1912
Oct
\ 1914
Mar 1 1957
Apr 1 1949
Oct 1 1907 2 %
Mar 1 1927
April 1 1932
1955
y June 30 1907
L E A S E .— Leased for 50 years from Jan. 1 1883 Jointly and severally to
Northern Pacific, Oregon R y . & N avigation and Oregon & California, with
guaranteed rental to pay Interest, sinking fund and taxes; leases assumed
In 1899 by new N or. Pac. and Oregon R R . & N a v . V . 6 9 , p. 230.
S T O C K .— Stock ($3,000,000) owned by said three companies (4 0 % ) by
Oregon R y . & N av. C o ., 4 0 % by N or. Pac. and 2 0 % by Oregon & Cal.
R R .) , and held by Central Trust Co. of New Y o rk , to be delivered after
payments to the sinking fund, which Is to cancel the bonds.
B O N D S .— The first mortgage is for $5,000 ,0 0 0 ; In S e p .1907 $4,225,(k>0 had
been issued, of which $659,000 retired by sinking fund— drawings at 110
and Interest. V . 82, p. 162; V . 8 3 , p. 156; V . 84. p. 159; V . 8 5 , p. 160.
NORTH ERN S E C U R IT IE S CO.— In 1904 the U . S. Supreme Court de
clared the com pany to be a combination in violation of the A n ti-T rust A c t,
and therefore Illegal. V . 76. p . 8 11, 9 19, 1249; V . 7 8 , p. 1168.
In April
1905 the pro rata plan of liquidation given below was sustained b y the
U . S. Supreme Court, and the com pany’ s holdings of Great Northern and
Northern Pacific stocks were being distributed.
The stockholders voted on April 21 1904 to reduce the stock from $3.95,400,000 to $ 3 ,9 5 4 ,0 0 0 , the par value of shares to remain $100 . In return
for each 100 shares of Northern Securities stock owned the holders to reoeive
99 times $39 27 stock of the Northern Pacific, or $3,887 73, and 99 times
$30 17 stock of the Great Northern, or $2,986 83, and a stub for 1 % ($1001
of the original N or. Sec. stock owned, the latter representing the remaining
assets in the treasury, pending completion of dissolution,
v . 7 8 , p . 1 223 ,
1275, 1392.
Report for calendar year 1906 was in V . 84, p. 103.
D I V I D E N D S .— Dividends 1902, 4 % ; 1903, 4 ^ % : 1904, F e b ., 1 14 % .
On stock as reduced, 5 % each paid Jan. 10 1906 and 1907.. V . 8 2 , p. 101.
O F F IC E R S .— Pres., James J. Hill; Sec. and T r e a s., E . T . Nichols, Gen.
Counsel. W . P . Clough. Office, 26 Liberty S t ., N . Y . — (V . 84, p. 103.)
N O R TH W E S TE R N C OAL R Y .— Allouez B ay, W isconsin, to Allouez Jet.
W I s ., 2.53 miles, with coal wharf covering about 80 acres of land. V . 71
p . 698.
Owned b y the Pittsburgh Coal C o .. which guarantees the bon ds,
of which $220,000 are apportioned to the railroad and $574 ,00 0 to the coal
property.
See official statem ent. V .7 1 ,p . 698.
Capital stock ,$ 1 ,0 0 0 ,0 0 0 .
For year ending June 30 1906, gross, $20,700 ; net, $295; int. and taxes,
$11,967 ; b a l., def. for year, $ 1 1 ,6 7 2 .— (V . 71, p. 698.)
N O R T H W E S T .— See Chicago & North W estern.
N O R TH W ESTE R N PACIFIC R R .— Operates a system extending from
Point Tiburon, Cal. (whence ferry to San Francisco, 6 m iles), northerly to
Eureka, with branches, 399 miles In all.
Incprp, Jan. 8 1907 in theinterest
of South. Pac. and Atch. Top. & S. Fe, which each own $17,499 ,500 stock and
took overby consolidation the Cal. & N orthw ’n, San Francisco & N . Pacific,
North Shore R R ., San Fran. & Northwestern, Eureka & Klamath River
and Fort Bragg & Southeastern, the odd director, it If understood, to annu
ally alternate. A connecting line of over 100 milto Is to be built from
W lllits to Peppenvood, contract being let for part in Sept. 1907.
B O N D S .— San Fran. & North Pac. 5s Issued at $ 25,000 per mile; s. f .,
$25,000 y ’ly; bonds drawn at 110 and int. (M tge. abstract, V . 49, p. 241.)
As to old North Shore 5s dated 1902, see V . 80, p. 1913; V . 7 4 . p 1252.
Of the first and refunding 4 1 4 s of 1907 ($35,000,000 a u th .), $ 1 0 ,0 0 0 ,0 0 0
has been issued, $ 6 ,676,000 is reserved to retire a like am ount of underlying
bonds, $ 5 ,000,000 for improvements and equipm ent and $ 1 3 ,3 2 4 ,0 0 0
for branches or extensions, including one from Shively to W illets nnd from
W endllng to a connection with the line from Ukiah to Tiburon.
V 84, p.
221, 694; V . 85, p. 222.
Report for year ending June 30 1907, in V . 85, p.
861, showed, gross, $2 ,9 5 5 ,4 3 2 ; net over taxes, $979 ,35 7: other income,
$158 ,09 7; Charges, $535 ,65 1; b a l., sur., § 6 0 1 ,8 0 4 .— (V . 85, p. 41. 222, 861.)
N O R TH W E STE R N RR. OF SOUTH C A R O L lN A .— W ilson M ill, S. C ., via
Sumter to Cam den, 62.5 miles; branch, Millard to St. Paul, 3 .5 m .; track
age, 5 m .; total, 71 miles. Stock, $ 1 00 ,00 0.
Dividend, 6 % , paid yearly
Dec. 1900 to 1902; 1903 to 1905 , 6 % .
Year ending June 30 1906, gross.
$104 ,73 8; net, $45,709 ; Int., $28,883; deductions, $4,000; b a l., sur., $12,826.
N O R W IC H & W O R C E STE R R R.— Owns from Norwich, C onn., to W o r
cester, M ass., 59 miles; braneh, Norwich to Groton, 13 m .; total, 72 miles.
Leased to New England R R . for 99 years from Feb. 1 1869, and accepted by
N . Y . N . H . & H . since July 1 1898; rental 8 % on pref. stock .— V . 7 0 , p.
125.)
NOR W OO D & ST. L A W R E N C E R R .— Norwood to R aym ondvllle, N . Y . .
714 miles; opened O ct. 1901. Stock, $100 ,00 0; par of shares, $100.
Bonds
are subject to call at 110 after April 1 1912.
Year ending June 30 1906,
gross, $56,355 ; net, $34,600; int. and taxes, $ 7,287; b a l., sur., $ 2 7,313 .
Pres., Chas. H . Remington; Manager, F . A . Sherman, N orfolk, N . Y
Treas., W arren F . H ow e, W atertow n, N . Y . — (V . 7 4 , p. 1090.)
O GDEN M INE R R .— Owns N olan’s Point (Lake Hopatcong) to Sparta
(or Ogden M ine), N . J ., 10 miles. Leased for 999 years from Jan. 1 1882.
to Central R R . of N . J. for 5 % per annum on capital stock and $500 yearly
for organization expenses.
O Q D EN SB U R Q & L A K E C H A M P L A IN R Y .— See R u tla n d 'R R .
OHIO CON NECTING R y.— Owns bridge over Ohio River near Pitts
burgh, P a ., and approaches, 9.07 miles. Leased from O ct. 20 1890 for no
definite time to Pitts. Clncin. Chic. & St. Louis R y .; rental, net earnings.
Stock Increased in Dec. 1902 from $1,000,000 to $ 2 ,000,000 In $50 shares.
Bonds are guaranteed as to principal and Interest by endorsement by P enn
sylvania Company, which on Jan. 1 1907 owned the entire stork.
Form of
guaranty, V . 81, p. 669.
For calendar year 1906, gross, $348,924; net,
$287,135; other income, $39,072; charges, $80,000; dividends ( 5 % ) , $100 .000; b a l., su r., $ 1 46 ,20 7.— (V . 82, p. 281, 752.)
OHIO & K E N T U C K Y R Y .— Owns from Lex. & East. R y. at Jackson,
K y ., to cannel coal fields In Morgan County, K y ., 26 miles. Operated by
Lex. & East. R y ., but Independent operation resumed In Ju ly 1904.
Com
mon stock, $200,000; preferred stock, $100,000; bonds,as above, $250,000:
junior securities to be taken by stockholders, $175,000.
Bonds are guar
anteed by Kentucky Block Cannel Coal Co.
Year ending June 30 1905
gross, $81,511; net, $20,909. Pres., W . de L. W albrldge, 1 Broedway
New York
108
RAILWAY STOCKS AND BONDS.
|Toi.. lxxxt.
O ct . 1907. j
RAILWAY STOCKS AND BONDS.
109
110
RAILWAY STOCKS AND BONDS.
R A IL R O A D S .
For explanation of column headings, &c.» see notes
on first page of tables.
INTEREST OR DIVIDEND S.
M iles | Date
Of I of
Road. Bonds.
10! . . . .
Ogden Mine RR— Stock (5 % rental Central of N J )___
9; 1903
Ohio Conn Ry— 1st M $ 2 ,000,000 g gu p & 1 (text) F.c*
26 1896
Ohio & Kentucky— 1st M gold sink fd call at 110_Ce c ’ i
80 1900
Ohio & Little Kanawha Ry— 1st M gold red 105____ K
172 1886
Ohio River— First m ortgage ($2,000,000) gold__FP.c*
209 1887
General M ($3,000,000) gold first on 39 m ile s ..F P .c *
33 1890
R av Sp & Glen 1st M $400,000 g gu p & L .F P .c *
11 1892
H untington & Big S 1st M ($400,000) gold guar__c*
13 1888
R ipley & Mill Creek 1st M g gu p & 1 (end) .F P .c '& r
111 1903
Ohio River & Western— First m ortgage $600,000 g - - F
...
1905
Oklahoma Central— 1st M $ 1 0 ,000 ,000 redeem (t e x t ).
Old Colony— Stock 7 % guaranteed by rental_______ c*
I I I ’ 1888
Bonds not m ortgage_______ ___________________________ r
_ . , 1894
Bonds not mortgage (authorized $3,000,000) g c*& r
1S95
Bonds not m ortgage___________ ___________________ c&r
125^ 1880
Boston Clinton F & N B m ortgage_______________ NB.&i
...
1902
Bonds not m ortgage_______________________________c&r
21 1893
Omaha Bridge & Terminal Ry— 1st M ($5,000,000) __
. . . i 1906
Opelousas G & N E— 1st M $ 5 ,000,000 g gu (text) M e ..;
670 1887
Oregon & Cal — 1st M gold drawn at 100 gu p & 1. Un.c*
Oregon R t? & Navigation— Common stock____________
Preferred stock 4 % non-cum ulatlve_________________ !
Consol m ortgage (now first) $ 2 4 ,500 ,000 g o ld ..N -c * 1 063 1896
600; 1882
Oregon Short Line RR— First M (R y Co) gold_______ c*
477 1878
U tah & Northern first m ortgage ($12,000 p m ) ..c * l
477 1886
Cons M guar $15,000 p m s f not drawn g o ld .A B .c *
Cons 1st M $36,500 ,000 gold (1st M on 400 m)
G.c* 1,479 1897
...
1904
R e ' M $100 ,00 0,00 0 g gu p & I red (test) ..E q ,c * & r
...
1897
Income bonds Series A 5 % non-cum ulative_____ OB
1897
do
Series B non-cum ulative___________ Mo
1902
Oregon & So E— 1st M $300,000 gold red 110 S f . .Ta
35 ____
Oswego & Syracwse— Stock 9 % guaranteed D L & W _
35 1876
Consolidated mortgage (guaranteed by D L & W ) . _
35 1883
Construction mortgage guaranteed (for $ 1,000 000) F
20 1905
Overton County— First mortgage $250,000 gold_ _____
88 1881
Owensboro & Nashville— First mortgage gold. C c*
Ozark & Cher Cent— See St Louis & San Francisco.
. -| 1907
Pacific & Eastern— 1st M gold red ( t e x t )______ _ ____ j
Size, or
Amount
Par
Value. Outstandingi
Rate
%
When ;
Payable.
Where Payable, and by
Whom.
lxxxv
.
Bonds— Princi
pal, When D u ei
Stocks— Last
Dividend.
608 Chestnut S t. Phila
Oct 1907 2 t f %
$450,000
5
J
&
$100;
2 , 000,000
M &
Farmers’ L & Tr Co, N Y Sept 1 1943
1,000;
4 g
1,000
250.000
&
J 1 Broadway, New York July 1 1926
5 Z
228,000>
1.0001
&
S Knickerbocker Tr C o ,N Y Mar 1 1950
5 g
2 ,000,000
& D Central Trust Co, N Y
June 1 1936
1,000
5 g
do
do
April 1 1937
2 .941.000
& O
1,000
5 g
do
do
Aug 1 1920
376.000
1,000
6 g
N ew York or Philadelphia July 1 1922
303.000
1,000
6 g
E W Clark & Co, PhilalAug 1 1908
50,000
1,000
6 g
1,000
600.000
&
S Ham bleton & C o ., Balt Sept 1 1953
4 g
1,000 See text.
& D U S M & T Co, N Y ; & Chi Dee 1 1 9 4 5
5 e
Office, Boston
Oct 1 ’07 1 X %>
7
100' 18,371,400;
Q— J
do
[Jan 1 1938
4 .000.000
4
J
&
J
1,000
do
Feb 1 1924
3 .000.000
F & A
1.000 &c
4 g
5 .598.000
4
J
&
D
do
Deo 1 1925
1.000 &c
1,000
1.912.000
5
J
&
J New Eng Trust Co, Bost'Jan 1 1910
1.000.000
J
&
J Treasurer's Office, Boston^ July 1 1932
1.000 &c
SH
1.563.000
5
J
&
J Prov L & Tr Co, Phlla Feb 1 1943
1,000
M &
Mercantile Trust Co, N Y Mar 1 1956
See text
1,000
5 g
South Pacific Co, N Y
July 1 1927
&
1,000 1 7.745.000
5 g !J
Office, 120 B ’w ay, N Y July 2 1898 1 %.
100 24.000.000
do
do
July 1 1907 2 %,
&
J
100 11 000.000 4 In 1907 J
1 .0 0 0 1 21.479.000
4 g
'J & D New York & G erm anyJune 1 1946
Feb 1 1922
6 g
F & A 120 Broadw ay, N Y
1,000 14.931.000
July 1 190 i
&
J
do
do
4 .993.000
1,000
7
J
IJnly 1 1926
J
1 .0 0 0 1 1,802,000;
5 g
J &
do
do
July 1 1946
J
5 g
J &
do
do
500 &ci 1 2.328.000
iDec 1 1929
& D
do
do
1.000 &C See text. ;
4 g
iJuly l 1946
7 .185.000 5 % In Se pt 1907
do
do
500 &c
July 1 1946
Oct
do
do
500 &c 14.841.000 4 In 1907
300.000
5 g
A
& O Trust Co. of Amer N Y April 1 1922
500 &C:
1,320,400
9
'F & A 20 Del Lack & W est R R .N Y : A u g 20 1907
50
do
do
Matured
438.000 See te x t. See text1,000
668.000
1,000
5
M & N
do
do
May 1923
5 g
J
& . J Colonial Tr & S B k . Chic O ct 1 1945
1,000
250,000
1.200.000
6 g
M & Iff 71 Broadw ay, New York N ov 1 1931
1,000
.
100 &c
O HIO & LIT TL E K A N A W H A R Y .— Zanesville, O .. to M arietta, & c..
80 miles. V . 69, p. 907.
B alt. & Ohio has pledged under Its Pitts. L . E . &
W est V a. m tge. $585,000 com . and 5824,000 pref. stock. V . 73, p. 1264 .
Stock is, c o m ., $918 ,00 0; pref., $ 1 ,1 6 7 ,5 0 0 . Year 1906 -07 , gross, $282 ,4 5 3 .
n et, $ 4 7 ,5 9 5 .— (V . 7 3 . p . 1264.)
O HIO R IV E R R R .— {See B . & O. M a p .) — In July 1901 purchased b y the
B alt. & Ohio R R ., which has pledged $ 5 ,884,400 of the $5,915,430 capital
stock as part security for its own Pitts. L . E . & W . V a . 4s.
R E P O R T .— Year ending June 30 1902, gross, $1,5 5 9 ,1 5 2 ; net, $585 ,94 2;
In t., $252 ,53 6; b a l., su r., $ 3 33 ,40 6.
Earnings since July 1 1902 are In
cluded in those of B . & O .— (V . 72, p. 287; V . 73, p. 287.)
O HIO R IV E R & W E S T E R N R Y .— Owns Bellaire, O ., to Mill R u n , O .,
I l l miles- narrow srange trackage to Zanesville, 1 mite.
In Sept. 1906
acquired " county railw ay" at Zanesville, 9 miles. Successor Jan. 1 1903 to
Bellaire Zanesville & Cincinnati R R .
In 1905 control reverted to the
original owners. V . 80, p. 163, 473. 600, 1913.
Stock outstanding Sept.
1907, £944 ,30 0; par, $100.
The stockholders voted B ee. 4 1906 to increase the authorized stock from
$ 1 ,200,000 to $ 4 ,000,000 to change the gauge to standard, build extensions
& c.; also to issue not over $ 4 ,000,000 of 5 % bonds.
V . 83, p. 1099.
In year ending June 30 1907, gross, $202 ,37 5; net, $56,237 ; in t., taxes,
& c „ $30,147'; bal., sur., $ 2 6,090 .
Pres., S. L. Mooney; T reas., W . C.
M ooney, Woedsfield, Ohio.— (V . 79, p. 2206; V . 80, p. 163, 473, 600, 1913;
V . 83, p. 1099.)
O K L A H O M A C E N TR A L R R .— Under construction from Lehigh, I. T...
to Chlck.nttha, 132 m , of which Lehigh to Blanchard, 109 m ., completed July
1907.
Stock authorized, $10,000 ,000 (par of shares, $100)
of which
$ 2 ,6 4 0 ,0 0 0 to be issued on 132 m .; to be held until 1910 In voting trust
composed o f directors. O f the bonds, $20,000 per mile under construction
have beon sold.
Bonds are subject to call at par until Dec. 1 1906, there
after at 105; the Western Trust & Savings Bank of Chicago Is mortgage
trustee.
.Sec statem ent, V . 82, p. 752.
Pres., Dorset Carter, Lehigh., I .T .;
Sec. and T reas., VV. G. W allin g.— (V . 8 2 , p. 752.)
O LD COLON Y R R . (M A S S .)— Owns road from Boston to Provincetown.
M ass., N ew port, R . I ., & c., 5-18 miles, leases 101 miles.
In June 1907 a
bill was passed permitting purchase of Boston & Providence (leased lin e),
64 miles.
V . 84, p. 301, 1487.
L E A S E .— In 1893 leased to New York New Haven <fc Hartford for 99
years. O f the stock, $ 6 3 9 6 ,7 0 0 was June 30 1907 held by the lessee.
The lease provides for dividends of 7 % per annum on stock not exchanged.
V . 7 6 , p. 217, 374. Stock a u th ., $ 2 0 ,0 0 0 ,0 0 0 .
(V . 8 5 , p. 463.)
O M A H A & D EN V E R SHORT LIN E R R .— Projected from Om aha, N e b .,
to Denver. Col. about 500 miles.
Incorporated in Colorado in 1906.
In
April 1907 surveys and rights o f w ay were completed.
Contracts for
work are to be let shortly. Stock authorized, $ 1 2 ,500 ,000 ; par of shares,
$100.
V . 3 3 , p. 94.
O PE LO U SAS G ULF & N OR TH EASTER N R R .— Projected from Ope
lousas, L a ., northeasterly to a point at or near the Mississippi R iver, and
southwesterly from Opelousas to the Gulf of Mexico.
Of the line. 60 miles
from Melville to Crowley, was opened O ct. 2 1907.
Stock authorized, $ 2,0 0 0 ,0 0 0 ; par o f shares, $100.
Bonds authorized, $20,000 per mile, will be
guar, by T e x. & Pac. as issued. V . 82, p. 98; V . 83, p. 688.
Pi-es., C. E.
Satterlee; Sec., P . B . Berts.
Office, Opelousas, L a .— (V . 83, p. 688; V . 85,
p. 922.)
OREGON & C A L IF O R N IA R R .— (See M a p Southern P a c.)— Portland
O re., to California State line, 367 m .; A lbany Jet. to Lebanon, 12 m .: Port
land to Corvallis, 97 m .; W oodburn to N atron, 93 m .; Portland, O re., to
Alrlee, O re., and branch, 81 m .; Mohawk Jet. to W end lln g, 16 m .; trackage,
1 m ile. T o ta l, 665 miles.
L E A S E , & c.— Leased to Southern Pacific Co. for 34 years from August 1
1893 , the lessee guaranteeing Int. on the bonds and the lessor receiving any
net profit and being charged with any deficit after payment of charges. Bet
terments are payable by lessor. Southern Pacific owns all but $38,802 of
the $19,0 0 0 ,0 0 0 stock, $12,0 0 0 ,0 0 0 of which Is 7 % pref. V . 72, p. 287.
Due Southern Pacific June 30 1906, $7,3 7 1 ,7 3 7 .
B O N D S .— Land grant acreage unsold June 30 1906, $ 2 ,3 3 9 ,1 0 8 , part
being covered by the mortgage, proceeds of land sales going to redeem bonds
(subject to call at par). The Southern Pacific guaranty of principal and
interest is printed on each of the 5 % s .
See V . 63, p. 754.
E A R N I N G S .— Year ending June 30 1906, gross, $5 ,8 8 5 ,1 8 3 ; net,
$ 1 ,3 1 6 ,9 0 2 ; in t.. taxes, & e ., $ 1,3 8 2 ,2 1 4 .— (V . 7 9 , p. 2457; V . 80 p. 2220.)
O REGON R A IL R O A D & N A V IG A T IO N .— (.See M a p Union P ac.)— East
Portland, O re., to H untington, O re., 403 m .; Umatilla, Ore., to Spokane,
W a s h ., 227 m .; branches owned. 445; leases Snake River Valley R R ., W allttla to Grange C ity, W a s h ., 66 m .; other, 2 m .; total, 1,143 miles, of which
13 narrow-gauge; river division water lines, 258 miles. Ocean line to San
Francisco, 660 miles. A branch from Arlington to Condon. O re., 46 miles,
built by the Columbia River & Oregon Central R R ., is leased from July 1
1 906 .
Extension Garland to M alad, 32 miles, was opened July 1 1906.
Branch from ragin, O re., to Joseph. 63 miles, also extension o f St. John’s
branch, 20 miles, is under construction.
The Oregon & Washington R R . will build from Portland, O re., to Puget
Sou n d , about 230 miles.
O R G A N I Z A T I O N .— Organized in July 1896, per plan in V . 61, p . 325
and V . 62, p- 4 1 . Controlled by Union Pacific R y .. directly and through Ore
gon Short Line. Owns $700,000 1st 5s (entire Issue) of Columbia Southern
R y ., Biggs, O re., to Shanfko, 71 miles. V . 73, p. 1363.
S T O C K .— In July 1906 all except $20,200 com . and $7,880 pref. stock
was owned l<y U n. Pac. system , being m ostly deposited under Ore. Short
Line refunding 4s of 1904. V . 70, p. 177; V . 80, p. 1913.
D IV I D E N D S .— On preferred: 1897. 2 % ; 1898 to July 1907, both Inclu
sive, 4 % yearly.
On common paid 1 % July 2 1898.
[V o l .
See text
fig
J
&
D OregTr&SavlSk .Portland June 1 1937
B O N D S .— Consol. 4s (abstract V . 6 3 , p. 9 2 8 ), cover all property. O f t h e
$24,5 0 0 ,0 0 0 authorized, the bonds unissued are m ostly reserved for the co n
struction of additional road at the rate of not more than $20,000 per mile 01’
constructed road. V . 74. p. 206.
No separate report.— (V . 8 4 . p. 1248.)
O REGON SH ORT LIN E R R .— (See M a p Un. P ac.)— Granger, W y o ., t o
H untington, O re., 542 miles; branch to K etchum . Id a ., 70 m .; Ogden to MeC am m oo, I d a ., I l l m. Pocatello to Silver Bow, M on t., 256 m .; Cache Jet.
I d a ., to Preston, U tah , 42 m .; Ogden, U tah, to Saady, 50 m .; sundry
branches, & c., 262 m .; Butte to Garrison. M ont., 57 m ., owned, but oper.
b y Nor. Pac.; trackage, 11 m .; total, June 30 1906. 1,401 miles.
On July 7 1903 the portion of the main line from Sait Lake City, U tah, te>
Callentes, N e v ., 340 m ., with some branch mileage and additional completed
road south of Callentes, 512 m . In all, was taken over under purchase by San
Pedro Los Angeles & Salt Lake R y ., the Ore. Short Line acquiring a half in
terest in the San Pedro L . A . & S. L . V . 79. p. 1705. V . 76. p. 919, 1356;
V . 7 7 , p. 3.8. Extension was proposed In July 1907 from E lv a , Idaho, t o
Jackson, W y o ., 1 0 5 '4 miles.
H I S T O R Y .— Successor March 16 1897 of the Oregon Short Line & Ut&b
Northern R y foreclosed per plan in V . 62, p. 504, 505
Controlled by U n.
P ac., which hold* nearly the entire capital stock and thn rreater part o* the
Income A and B bonds. V . 7 5 , p. 1032.
Acquisitions In 1906, $ 3 6 ,3 9 3 ,432 4 1 4 % notes given In part paym ent maturing in Mch. and Sept. 1907V . 84, p. 52. 572, 932.
In N ov. 1906 allied'interest acquired control of the
Utah. Light & Railw ay, Salt Lake City. V . 83, p. 1171.
C A P IT A L S T O C K .— Authorised, $ 2 7 ,4 6 0 ,1 0 0 , vt which Union Pacific
R R . Co. has acquired $27 ,4 5 0 ,1 0 0 . V . 68, p. 188, 3 81, 474.
In 1906 paid
5 0 % dividend. V . 84, p. 52.
B O N D S .— O f the $36,500 ,000 first consols, $22,029 000 are reserved to
retire at m aturity the loans not disturbed.
Series A income?, non-cum ulative 5 per cent*. h«.v© received: In Sept.
1 8 9 7 , 4 % : Sept. yearly since, the lull 5 % , at Guaranty Trust C o ., New
Y o rk , or Old Colony Trust, Boston. V . 69, p. 49>2.
Oregon R R . & Navigation stock, viz.. $10,281 ,400 common and $976,90©'
preferred Is owned aaa pledged as special security for the Series B incomet,
but dividends thereon are to go to the Short Line oempauy except as needed
to p**y to Scries It cheir full Interest
In Oct. 1898 3 * and In O ct. 1899 to1906 , Industve. 4 % yearly was paid on the Series B incomes. V . 85, p. 572;
V . 66, p. 1141.
The union Pacific owns $ 6 ,800,000 of the $7,.TR5,000 Income “ A."' bonos
and $ 1 4 ,703 ,000 of the $14.8 4 1 .0 0 0 " B ” bonds. V . 70. p. 176.
The ref. gold gusr. 4s (collat. trust) of 1904 (authorized issue, $100 ,0 0 0 ,000) aresunject to call at 102 H on and after Dec. 1 1907. The bonds wereseoared by pledge or the following stocks: $ 5 ,000,000 Northern Securit ea;
$ 18,0 0 0 ,0 0 0 pref. and $80,000 ,000 com . Sou. Pac. and $10,000 ,000 pref. and
$ 2 0 ,0 0 0 ,0 0 0 com . Ore. R R . A N av. The collateral m ay be replaced by other
of equal value.
O f the bonds, $45,000 ,000 has been sold, the remaining
$ 5 5 ,000 ,000 being held In Union Pacific treasury. See abstract of m ort
gage, V . 8 0 , p. 2403. V . 79. p. 2066; V . 80, p. 1913.
Financial office, 120 B ’w ay, N . Y . City.— (V . 84, p. 5 2 ,9 3 2 .)
OREGON & SO U TH EA STER N R R .— To extend from Cottage G roveO re., to the Bohemia Mining District. 34 miles, of which Cottage Grove t o
Disston, 20 m ., completed In Oct. 1906; branches, 4 m .; total, 24 m .
E.x
tension from DLsston to Bonita, 6 m ., under construction in Sept. 1907
Stock authorized, co m ., $500,000; pref., 7 % c u m .. $ 5 00 ,00 0; outstanding
$400 ,00 0 of each; par of shares. $100.
Pref. is subject to call.
Bonds, see table. P res.,G _B .H en gen ,15 W illiam S t . ,N . Y , — (V .7 5 ,p .135.)
O SW E G O & SY R A C U SE R R .— Owns trom Oswego. N . Y . , to Syracuse.
N . Y . f 35 miles. Leased in 1869 during length of charter and renewal thereof
to the Delaware Lackawanna & W estern R R . Co for 9 % per year on $1,320,400 stock and interest on bonds. The $438,000 7 % bonds due Mch. 1
1907 were purchased at m aturity by the D . I.. & W .
O VERTON C O U N TY R R .— Owns A lgood, T e n n ., on Southern R y ., t o
Livingston, 20 m iles, completed March 1906.
Extension easterly to Junc
tion C ity, K y ., on the Cln. New Orl. & Tex. P a c., 76 miles, under construc
tion. Stock authorized, $250 ,00 0, to be Increased to $2,5 0 0 ,0 0 0 .
B onds,
see table above; trustee, Colonial Trust & Savings Bank. Chicago. V . 8 1 .
p. 727. Car trusts, $18,000 .
Gross earnings In 1906. $ 70,000 ; net, $52.000; dividends ( 5 % ) , $12,500 .
Pres., Geo. L. W ilkins, Chicago; Sec. and
T reas., E . C. K night, Livingston, Tenn.— (V . 83, p. 626; V . 8 4 , p. 103.)
O W EN SB O R O & N A S H V IL L E R Y .— Owns from Owensboro, K y ., to
AdalrviUe, K y .. 84 miles; Mud River Branch, 4 m . Operated by Louisv. A
N ashv. R R ., which owns the $ 1 ,156,525 stock (par. $100) and the $ 1 ,2 0 0 ,1st mtge. bonds— all these bonds and most of the stock being pledged under
Its trost deeds.
O Z A R K & C H E R O K EE C E N T R A L R Y .— See St. Louis & San Francisco.
— (V . 85, p. 531.
PACIFIC & E A ST E R N R Y .— Owns Mediord to Eagle Point. O re.. 11
miles. T o be extended 89 miles to Butte Falls and K lam ath Fails, making'
about 100 m iles.— Acquired the Medford & Crater Lake R R ., bid In at
receiver's sale M av 11 1907. Stock authorized, $ 1 ,0 0 0 ,0 0 0 ; outstanding
$500 ,00 0; par, $100.
Bonds (Oregon Trust & Savings Bank of Portland.
O re., Trustee.) are subject to call after 10 years at 105; outstanding June
1907, fi?00.000. V . 84, p. 1552.
Pres., W . Cooper Morris; Viee-Pres.
S. W . Strvkes, Sec., Treas and Gen. M gr., G eo. Estes, Portland, Oregon
— (V . 8 4 . p 1552.)
PACIFIC R A I L * A Y & N A V IG A T IO N C O — V . .81, p. 1308.
PAN A M E R IC A N R R. (M E X IC O -O U A T E M A L A ).— Projected from Saa
Gerontmo, M ex ., on the National Tehuantepec R R .. southeasterly to the
Guatem ala borrler. about son miles, with connections to the City of Guate
m ala, of which 225 miles completed In March 1906; balance was un*ier con
struction.
Mexican G ov’ t subsidy about $10,000 gold per mile. Stock au
thorized, $ 1 0,000 ,000 : outstanding Apr 1906 $1 ,0 8 4 ,6 0 0 . Bonds author
ized. $12,000 per mile of main track, but limited by supplemental m tge. to
$8,000 per mile until the net earnings are double the Interest charge on the
entire authorized am ount.
In 1906 $1,000,000 b o n d s w e r e sold.
Pres., D .
P . Doak. San Francisco, C al.— (V . 82, p. 693; V . 8 3 , p. 213, 436.)
O c t ., 1907.]
RAILWAY STOCKS AND BONDS
R A IL R O A D S .
-----------------------------------------------------------------------------------------------M iles
Date
F or explanation of column headings, & c., see notes
of of
on first page of tables.
'■
Road. Bonds.
Pan-Amer RR (M ex-Guat)— 1st M (text) red 1 0 5 . .c * ,
Panama— Stock _________________________________________ !
Subsidy bonds gold drawn at 100 (V 64, p 7 0 5 ) . .c * ;
Paterson & Hud Ri-v— Stock 8 % rent N Y L E & W j
Paterson & Ramapo— Stock (rental guaranty)............. i
Pemigewaaset Valley RR— Stock (rental g u a r a n ty )..
Penn Eastern— QuakertownA Eastern 1st M g . OuP.c*
Pennsylvania RR— Stock $ 4 0 0 ,0 0 0 ,0 0 0 ____________ Tr
General mortgage bonds $1,000 and £2 0 0 e a c h ..c & r
Cons mort of] Gold registered b o n d s ______________r
1873 secures jGold coupon b o n d s ________________ c
all equally.
Gold coupon s f 1 % not draw n ._c*
j Sterling (s f In 1900) not drawn.c’ Ar
Bonds (P W & B stock as collateral)_______________ r
Collateral trust loan gold not drawn_______________c*
Collateral trust notes 560,000 ,000 ____________________
Gold bonds redeemable (text) convertible___ GP.c*
do
do
do
do
c*A r
Phlla A Erie M (now 1st) g o l d . . . ..................................c
do
do
(85,263,000 are 5s>________ r
SunD Haz A W llk 1st Series A drawn at 100_______c,
Second m ortgaee Income______________________ cA r
Sun A Lewis 1st M $600,000 p & 1 gold____ GuP.c*
W est Chester first mortgage assumed________________
W est Pa consol mortgage gold assumed____ P IP c*
River Front first mortgage assumed_________________
Southwest Penn 1st M s f $5,000 yearly not draw n.r
Pitts V a A Ch 1st M gold guar p & t_______ G P .c*& r!
Equip trust gold bonds (s f 5 %) not drawn_______ c*
Penn rolling stock trust gold $300,000 paid eachAA O
Penn car trust gold $300,000 paid yearly_________
Penn car trust gold $700,000 paid yearly_________
Penn equipment trust gold $200,000 paid yearly___ ‘
do
do
$400,000 paid yearly___
do
do
5400,000 paid yearly___
Penn steel car trust gold $700,000 paid yearly____
do
do
gold $300,000 paid yearly___
x On coupon bonds J & J on registered bonds A & O.
I N T E R E S T OR D I V I D E N D S .
Size, or i
Par
Amount
Value. Outstanding \
PA N A M A RR — See page 17*.
PATERSON & R A A H P O R R .— Owns from Paterson. N . J ., to New York
State Line, 14 miles, double track, part of main line of Erie R R . to which
leased Sept,. 1852 during legal existence, at $26,500 .
P E M IG E W A S S E T V A L L E Y R R.— P lym outh. N H ., to Lincoln, N . H .,
23 miles. Leased to Concord A Mont. for 6 % on stock, oper. by Bost. A Me.
P E N N S Y L V A N IA EASTER N R Y .— Quakertown to Ricgelsville, P a ., 15
miles. In 1906 name was changed from Quakertown A Eastern R y.
Stock. $180 ,00 0, all outstanding; par of shares $50.
Year ending June 30
1906, gross, 513,805 ; op. def., $ 1,011; charges, $ 1 0 ,8 6 3 .— President, John
Jameson; Sec., Henry S. Funk. Quakertown. P a .— (V . 83, p. 1471.)
PENNS YL V AN IA R R .— (Ser M a p s ) — The svstem , as shown on the ad
joining m ap. extends from New York City westerly, via Philadelphia, to
Pittsburgh, Prle, Cleveland, Toledo, Chleago and Burlington on the north,
and *<i W ashington, Cincinnati, Louisville and St. Louis on the South. The
total system on Jan. 1 1907 aggregated 11 ,<>80 miles, of which 3,820 miles
represents the mileage operated directly under the caption “ the lines east
of Pittsburgh and Erie,” and 2.865 miles the mileage operated directly under
the caption "t n e lines west of Flttsburgh and Erie,” the latter being more
fully described under the title Pennsylvania Company and Pittsburgh Cin
cinnati Chicago A St. Louis.
The other lines are operated Independently
E a s t of P ittsb u r g h and E rie.
I
M iles.
Main Line and Branches— M iles. I Other lines (Incl. D .A R . Canal
Phlla. to Columbia, P i _______
81 ! 66 m ., and ferries, 2 m .) _______ 493
P h lla., P a ., to New B os.J et., A c .290
Harrisburg, P a ., to P itts., F a ____ 248
Total In Penn. R R . statistics 3 820
Branches aud spurs___________ . - - 7 0 0 I Trackage _________________________ 143
I REPORTED SE PA R A TE LY—
Total main line aud branches 1,319 ! Phlla. Balt. A W ashington_______702
Lines opvr. h;i lease or contract—
i Northern Central R y * .......... ............450
H a r. Ports. M t. Joy A Lan. R R '
|W est Jer. A S«ash. R R . * _______ 331
Dlllersvllle to Harrtsb ,Pa .A c . 53 i Cumberland Valley R R .* ________ 163
United New Jer. H R .* , Trenton
' I ong Island*_______________________392
to Jersey City, A c _____________ 147 B alt. Ches. A Atlantic R y ________ 88
Phlla. A Trenton R R . * ___________ 26
Allegheny Valley R y .* ___________ 262 i Grand total east of P. A E . . _ 6 , l 10
W est of Pittsburgh & Erie.
W est. New York A P e n n .*_______ 549
Connecting R ailw ay* . ....................
H7
R E P O R T E D D IR E C T L Y —
Lines operated under contrast—
I Pitts. C '1'. Chic. A S t. L o u is * ..1 ,5 2 6
Bald Eagle Valley R R . * . ............... 04 Pennsylv nla Company lin e s * ..1 ,3 3 9
Cambria A Clearfield R R .* _______ 3 9 3 1
Belvldere Delaware R R . * ________ 811
Total reported directly____ . _2,H65
Phlla A Long Branch R F t ._____ 49 1 I
REPORTED S E P A R A T E L Y —
De'awnre U lv. R R . \ Bridge*
10 ;Crand Rapids A Indiana lin e s * .. 575
Plilla. & Erie ("acquired May 1 ’07)307 1Vanda'la R R .* ________________ . . . 9 2 3
1Other Hues (see Pa. Co. statem ’ t.).505
Total system Jan. 1 1907___ 10,978
O R G A N I Z A T I O N , L E A S E S . A c.— The charter of the Pennsylvania R R .
was dated April 13 1846
The PennsylvaniaCompany controls all the lines
west of Pittsburgh and Erie, the Pennsylvania R R . Co. holding all its stock.
In 1900 acquired m ost of stock and income bonds o f W estern N . Y . A Penn.
V . 72, p. 481.
The Western New York A Pennsylvania R y . and the Allegheny Valley
R y . were taken over under lease In 1901) In May 1900 purchased a m ajority
of Long Island R R . stock. V . 72. p. 481. W estern Pennsylvania and other
roads connecting with the main line were merged April 1 1903. the P itts
burgh V a . A Charleston In 1905 and the Phlla. A Erie May 1 1 9 0 7 . V . 7 6 ,
p. 4 86, 594; V. 8 0 , p. 1 112: V . 84. p. 1183. The stockholders voted March
13 1906 to purchase the Allegheny Valley R y ., South W est Pennsylvania
R y . and York H av. A R ow . R R .
V . 82, p. 4 53, 629; V . 84, p . 626.
S E C U R IT IE S O W N E D .— The total cost of these to Jan. 1 1907 was
$ 1 9 4 ,76 9,71 9; many of which are pledged to secure Pennsylvania Issues.
Revenue derived from these securities In 1906, $ 1 1 ,741 ,184 .
D I V S .f ’88. ’ 89. ’90. ’9 1 . ’92. ’ 93 to ’99. ’00-M ay '06. N o v .'06
1907.
P . Ot. \ 5
5 5U
6
6
5 yearly.
6 yearly
3^
May ,3 34
Ill 1893 paid also 2 % In scrip.
S T O C K .— The stockholders March 10 1903 authorized an Increase in
stock from $251 ,70 0,00 0 to $40 0 ,0 0 0 ,0 0 0 , to be made from time to time
In the discretion of the directors. Of the stock. $20,9 8 0 ,3 5 0 was Issued
April 1903 in exchange for convertible debentures.
(See below.)
fn 1903
sold $75,094 ,750 new stock at $60 per $50 share. V . 7 6 , p. 383, 4 88, 594
7 0 6 , 1193; V . 77, p. 37, 770.
in 1905 $1,106,650 stock was being Issued In
exchange for the Southwest Pennsylvania R y. minority stock per terms In
V . 8 0 , p. 2458. and In 1906 $2,980,000 stock In exchange for the $5,296,750
Allegheny V alley minority pref. stock at the rate of $56 25 Penn, stock
Tor $100; over 9 0 % of said pref. having assented. V . 81, p. 1493; V . 82,
p . 752.
In Jan. 1907 $1,69-1,400 was being Issued In exchange for Cum
berland Valiev stock and $-1,485,200, dollar for dollar, for the mlnorltv
Philadelphia A Erie stock.
V . 84, p. 103, 159, 221, 391.
In Sept. 1907
$ 2 , 2 8 9 ,0 i)0 was being Issued at the rate of 3 shares of stock and $ 50 for each
share of Bald Eagle Valley minority stock, over nine-tenths of which had
been acquired. V . 85. p. 98.
Stockholders on March 12 1907 authorized Increase of the stock and
bonds by $100 ,00 0,00 0 each, to be Issued from tim e to time as required,
$6(1,000,000 coll at. trust 5 % gold notes dat^d Mch. 15 1907 forming part
of the $100 ,00 0,00 0 bonds. V . 84, p. 103, 626.
Rate
%
When
Payable.
Where Payable, and by
Whom.
Bonds— PrlncU
pal, W hen Dutr
Stocks— Last
Dividend.
;J
& J Am er Tr A Sav B k, Chic Jan 1 1934
$1,000 $ 1 .000 ,000
___ _1903
5 g
7 .000.000 See text.
24 State S t, New York Peb 1 1905 5 %,
100
50 _____
N ov 1 1910
6 6 ,0 0 0
6 g
!m & N
do
do
1,000
50! 1880
July 1907 4 %
8
J
&
Paterson, N J
630.000
50
14
July 1907 4 %
298.000
8
J
&
do
do
14 _____
F & A Treas Off, Concord N K A u g 1907 3 %
541.500
J
loo
___ j _____
180,000'
.T A
J Quakertown, Pa
Jan 1 1927
500
15 1807
5 g
M a y 31’07 3 ^ %,
50 314,377 ,200 See text. M & N 31 Office, Philadelphia
__________
19 997,820
See x
'Office, Phlla A London
July
1910
857' 1867
•5 or £
Q— M
1,000
3.498.000
Office, Philadelphia
Sept
1919
5 g
857 1879
1.500.000
do
do
1,000
M & S
Sept
1919
857; 1879
5 g
2.714.000
M A N Farmers L & Tr Co, N Y May
1943
1,000
857 1893
4 g
4.850.000
London, England
July
1945
£200
&
857 1895
3X g J
7,701 000
4
J
A
Penn Co for Ins, A c, Phil July
1921
1,000
___ ! 1881
9 900.000
&
1,000
Provident L & T Co, Phil June 1 1913
___ _1883
434 g J
5
M & S15!
Mch
1910
,___ _1907 5,000 &c 6 0 ,000,000
500 Ac 19.993.500
1912
_____1902
3 H g M & N Amer Ex B k N Y : & Phfl Nov
& D A m Ex Bk, N Y . Ph il.A c Oct
500 &c 9 9 .617.500
1915
___ | 1905
3H g J
Broad St Sta and London July
1,000
8 .680.000
6 g
J
A
1920
307 1869
1,000 11,143,000 4 g A 5 g 4
A O Broad St Station, Phlla July
1920’
307 1869
M & N Broad St Station, Phlla May
5
1928
100 Ac al ,000,000
43 1878
1,349,500
6
M & N
do
do
100 Ac
May
1938
43 1878
500.000
J
&
J
do
do
July
1936
1,000
56 1896
4 g
75,000
5
M & S Broad St Station, Phlla Sept 1919
100 Ac
5 1879
J
A D
4.000.000
do
do
1,000
June 1 1928
138 1888
4 g
1,000
212.000
M A N
do
do
M ay 1 1912
4^
4 .62 1882
862,000
7
F & A Broad St Station, Phila Feb 1 1917
1,000
131 1877
6 .000.000
1,000
M & N New York and Phlla
N ov 1 1943
4 g
__ 1 1904
2.657.000
1,000
M A S Girard Trust Co, Phlla
Sept 1 1914
___ _1889
4 g
do
do
1.500.000
1,000
Q— J
A p r l9 0 8 -1909
3^ g
___ ’9 8 - ’9£
do
do
500.000
Q— F
1,000
N ov 1908-190&
___ _1899
3H g
Girard Trust Co, Phlla
2 .100.000
Q— F
1,000
Feb 1908-1910
___ _1900
3H g
800.000
Q— M Commercial Trust Co, Ph Dec 1907-1910 —
1,000
3
g
____| 1900
1,600,000
1,000
do
do
June 1908-191S
___ ■ 1901
3 H g Q— M
2,000,000"
1,000
Q— M
do
do
M ar 1908-1912
___ ; 1902
3H g
3.5 0 0 .0 0 0
1,000
do
do
July 1908-1912
Q— J
___ _1902
3X
1.500.000
1,000
3
Q—J
do
do
1Oct 1908-1912
___ ! 1902
a In cludin g $313.2 00 bonds he Id alive I n sinking fund.
PATERSON A H UDSON R IV E R .— Owns from Marlon, Jersey C ity, N
J. (south of Bereen J e t .), to Paterson, X . J ., 14 mile double track. Leased
In perpetuity at $48,400 per year for road, $5,000 for land In Jersey City
and taxes, to Erie R R ., forming part of main line.
• S e e each com pany's statem ent, j
ill
B O N D S . — Consolidated mortpaae of 1873, see “ Supplem ent” of Oct. 1 9 0 1 .
The 4 % loan of 1881 is secured by Phila. W ilm .A B a lt. stock. Mtges. and
ground rents payable June 30 1 9 0 7 ,$ 3 ,1 1 2 ,1 6 1 . V . 77, p . 1875; V .7 8 , p .103.
In 1902 were issued $50,000 ,000 10-vear 3 Vi % gold bonds, dated N ov. 1
1902, o f which $30,006 ,500 were converted in July 1907 Into stock at 570
per share and balance are convertible at holder’s option at $70 per share on
any Int. day, on 30 days’ notice; they m ay be called for payment at 102 M on I
any Int. day, but if called converted on basis stated.
See V . 74, p. 577.
t
In 1905 stockholders subscribed at par for part of $100 ,00 0,00 0 of 3 ‘4
gold bonds, the balance being taken by a syndicate. The bonds are (since
Dec. 1 1905) convertible at option of holder at any time Into stock at $75
per $50 share unless previously called for redemption on Dec. 1 1910, or at
any subsequent Int. period on 90 davs' notice, at par and Int.: but when
so called they m ay be converted up to 30 days prior to the date named 1e
said notice for redemption. A part of the proceeds was used to retire the
$27,480 ,000 6 % bonds maturing June and July 1905; balance for im
provements. See V . 8 0 . p. 1112, 1236, 1913; V . 8 1 , p. 1437.
G E N E R A L F I N A N C E S .— In 1901 obtained control of the Pennsylvania
and Cambria Steel cos. See “ Industrial cos.” and V .7 2 , p .1280: V .8 2 , p .805.
In 1907 the company was actively constructing a passenger electric tunnel
railroad from Jersey City under the North River to a central passenger sta
tion at 33d S t. and 7th A v e ., New York C ity, and thence under the East
River to a connection with the Long Island R R . In Long Island C ity,
under the name of Pennsylvania Tunnel A Terminal R R .
The tunnel will aflord entrance Into New York City for the Penn
sylvania R R . and Long Island R R . and permit the sending of through
trains by rail direct from the South and W est to all points In New England
via the bridge from Mott Haven to Long Island, which Is to be built by the
New York Connecting R R .; see V . 71, p. 913; V . 7 2 , p. 1280; V . 73, p.
1264- V . 74. p. 380. 4 78. 831, 8 84. 1308: V . 7 5 . p. 1203 1302 1355: V
82, p. 1269; V . 83, p. 626-, 891; V . 84, p. 340, 1552.
The $ 6 0,000 ,000 3-year 5 % notes, dated Mch. 15 1907, will provide for
the paym ent of the $50,000 ,000 Penn. Co. notes maturing N ov. 1 1907
and construction, A c ., requirements in 1907. They are secured by de
posit of 545,000 ,000 Penn. R R . 4 % equipment certfs., $ 1 0,000 ,000 watersupply 4 % trust certfs. and $8,800,000 Penn. Co. stock.
V . 84, p . 451, 5 7 1 .
In June 1906 the Issue of $50,000,000 (250,000,000 francs) French loan
(Penn. Co. guar. 3 84 % bonds) was sold to pay part of cost ($42,000,000) of
equipment and completion of the water-supply system.
On Bee. 31 1906 the Pennsylvania Company held (V . 84, p. 928) th e
subjoined am ounts of the following issues (com rare table above), re
ceived In whole or in part In connection with aforesaid French issue.
P e n n .S teelR oll.S tk .T r.4% $2,700,000
Penn. Steel Freight Car T r.
4 % g o l d ________________ 9 ,300,000
P enn.St’l E q .I m p .T r .4 % .1 0 ,0 0 0 ,0 0 0
|Penn. Gen. Frt. E q. Tr.
| 4 % '07, $ 1 0 0 ,0 0 0 ,0 0 0 ,5 2 2 ,2 1 8 ,0 0 0
iPenn. R R . W ater Supply
| T r . 4 % .................................1 0 ,0 0 0 ,0 0 0
As to $100,000,000 equipment trust here shown, see V . 84, p. 231, 340.
Statement of President Cassatt In June 1906 was in V . 82, p. 439, 569.
In Sept. 1906, about half o f the com pany’s holdings in B alt. A Ohio (see
that co.) and Norf. A W est, stock were sold, realizing about $ 5 0 ,000 ,000 ;
also In Dec. 1906 $ 1 5,630 ,000 Ches. A Ohio stock. V . 83, p. 5 6 2 , 1412.
V . 85, p. 655.
>
In N ov. 1906 the dividend rate was Increased from 6 % to 7 % .
Increase
In wages, Dec. 1906, V . 83. p. 1171.
Increase in stock and bonds authorized Mch. 1907, see “ Stock” above.
New bond issues of affiliated companies In 1903-06 include in part:
Phila. B alt. A W ash . 4s_$10,000.000|P enn.C o.French fr .lo a n ..$ 5 0 ,0 0 0 ,0 0 0
Long Island R R . 4s, guar 2 2 ,408,000 Pitts. Va. A C hari.4s,gu .
6 .000,000
Penn. Co. 4 H % g u . notes 5 0 ,000,000 Pitts. Cin, Chi. A St. L . 10,00 0 ,0 0 0
Penn.Co.3
% g u .tr.ctfs 15,000,0001 Vandalla R R ____________ 1 0 ,000.000
Penn. Co. 4 % bonds------- 20,000,000 I W ashington Terminal Co 10,000,000
In June 1903 allied Interests purchased $ 6 ,924,200 of the $11,000 ,000
Hocking Valley R y. common stock; see that co. V . 7 7 , p. 1225.
L A T E S T E A R N I N G S .— Jan. 1 to A u g 31 (8 m on th s), directly operated.
Lines e 1st of Pittsburgh) 1 9 0 7 _______ G ross,5 1 0 9 ,? 6 4 ,013; net. 529,589 .8^ 4
and Eric.
J19 06...............Gross, 9 5 ,3 4 6 ,2 1 3 ; net, 2 8 ,5 1 3 ,8 2 4
l ines Wes! of P. and F . , inc. or dec— Gross,i n c l ,392,800 , n e t ,inc 1 ,6 0 8 ,5 0 0
A N N U A L R E P O R T .— Fiscal year ends Dec. 31.
Annual meeting Is
held at Philadelphia on second Tuesday In March. The report for 1906 w as
given la V . 8 4 ,p. 566, 574; see also editorial, p. 539 (compare V . 85, p. 7 9 4 ).
E A R N IN G S O N A L L L IN E S B O T H E A S T A W E S T O F P IT T S . A E R I E .
Year ending D ec. 31—
1906.
1905.
1904.
Gross earnings______________________$295 ,89 8,16 5 $266 ,06 9,59 7 $ 2 3 7 ,21 6,42 0
8 4 ,354,399
7 3 ,9 6 9 ,2 4 9
6 5 ,7 0 2 ,9 6 0
N et earnings____ _______ __________
R E P O R T OF P E N N S Y L V A N IA R A IL R O A D C O M P A N Y.
Year ending Dec. 31—
1906.
1905.
1904.
Miles operated_____________________
3,820
3,764
3 ,748
Gross earnings_____________________ $148 ,23 9,88 2 $133 ,92 1,99 3 5117 ,1 9 8 ,4 1 4
Netearnlngs ......................... ................ 546,434 ,238
540,531 ,582
535,395^526
In t. on Pa. R R . investm ents______
11,741,184
10,018,026
9,8 6 4 ,5 3 4
In t. on United N J. securities____
346,109
267,963
261,498
In t. for use of equipm ent__________
395,041
371,913
43 4 ,8 5 8
General Int. and miscellaneous___
62,629
1,067,604
853,374
R e n t s ............... .................. .....................
239,299
31‘1,411
946,756
Gross Incom e____________________
Deduct— R e n t a ls _________________
Interest on funded d e b t ________
Interest on bond allotm ent____
Int. on m tgs. and ground ren ts.
Car trust paym ents_____________
E quipm ’t trust loan sink. fu n d .
State taxes and m iscellaneou s..
T o ta l......................................................
559,218 .500 552,568 499
5 4 7,756 ,546
512,552 ,213 $12,346 ,754
$ 1 1 ,202 ,965
7,3 8 7 ,6 5 2 5,4 8 9 ,9 4 7
5,2 7 4 ,4 4 8
__________ 1 ,237,277
_______________
11,805
59,571
214,208
4,9 7 9 ,1 4 7
4,0 8 5 ,2 2 4
4,2 1 0 ,5 7 1
68,400
136,400
136.400
2 ,791,022
2 ,360,048
1 ,976,334
$ 2 7,790 ,239
$25,715 ,221
$ 2 3 ,014 ,916
112
RAILWAY STOCKS AND BONDS.
[V o l. lx x x v .
Oct.. 1907.)
RAILWAY STOCKS AND BONDS.
113
|V o l .
RAILWAY STOCKS AND BONDS.
R A IL R O A D S .
For explanation of column headings, A c ., see notes
on first page of tables.
Pennsylvania RR— (Concluded)
Penn steel equip trust gold $500,000 paid yearly____
do
do
$500,000 paid yearly,
do
roll stk tr gold $500 ,00 0 paid yearly . .
do
do
gold $200,000 paid yearly
do
do
gold $300,000 paid yearly'___
Pennsylvania equipment trust----------------------------------Pennsylvania steel freight car trust___________________
do
do
do
do
_______________________
Penna Steel equlpt improvement trust_______________
Pennsylvania general freight equipment trust_______
Delaware Avenue Bloodgood property____________ r
Penn R R real estate purch money gold M ___ F.c*& r
Pennsylvania Company— Bonds gold guaranteed_c*&r
Guar tr certs $20,000 ,000 gold guar Pa R R Ser A ._ r
do
do
do
Series B ______GP.c*
do
do
do
Series C __________c*
do
do
do
Series D ________ QP
Gold loan $1 334,000 drawn yearly g gu Pa R R .Q P
Gold loan red after 15 years (guar V 8 3 , p 1229) GP.c*
Gold notes guar p & i (to be paid N ov 1) -----------FP
French loan 250,000 000 tr gu red from 1918____ GP
Pennsylvania & North Western— See Cambria & Clear
Peoria & Bureau Val— Stock rental.
See te x t_______
Peoria & Eastern— Ind Bloom & W 1st M pref_Ce.c&r
Ohio Indiana & W est 1st M pref gold Int guar.Ce.c~
Peoria & East cons M $10,000 ,000 Int g u a r ..C e .c
Second consol mortgage Income non-cum ______Ce.c
Peoria & Pekin Union— First mortgage gold ____ Ce.c
Second mortgage gold____________________________ Ce.c
Pere Marquette— Common stock $16 0 0 0 ,0 0 0 ________
Preferred 4 % $12,0 0 0 ,0 0 0 ....................................................
Receivers’ certificates extended (see text) red par—
do
(see text) pay $200,000 s-a beg Feb 07
do
certificates----------------------------------------------Refund M $60 000,000 g gu o & 1 (end)___ Ce.c*&r
IN T E R E S T OR D I V I D E N D S .
M iles Date
of
of
Road. Bonds.
1902
1903
1903
1903
1905
1900
1905
1906
1906
1906
1889
1892
1893
1881
1897
1901
1902
1904
1901
1906
1906
1906
field R y.
47
202 1879
342 1888
342 1890
342 1890
20 1881
20 1885
1906
1906
1907
1905
Size, or
Amount
Par
Value. Outstanding
$1,000
1,000
1,000
1,000
1,000
1,000
1,000
1,000
1,000
5,000
1,000
1,000
1,000
1,000
1,000
1,000
1,000
1,000
1 000
5,000
500 fr&c
100
100 &c
500 &c
1,000
1.000
1,000
1,000
100
100
1,000
1,000
1904.
190fi.
1905.
$24,741 ,630
$26,853 ,278
B a la n c e ...............................................
$31,4E8,261
$181,142
$182,969
Payments to trust funds___________
$225,956
401,530
131,450
Consol, mortgage sink, fund, & c _ .
131,170
8.424,881
6,225,923
Extraordinary expenses___________
8 ,701,475
D iv id e n d s .................. ..................... (6 H ) 19,869,661 (6)18,113,978 (6)17,933,035
Extraordinary expense fun d______ 2,5 0 0 ,0 0 0
----------------------------$31,428,261
$26,8 5 3 ,2 7 8
$24,741,630
Bal. profit and loss Dec. 3 1 _______ $ 2 4,725 ,484
$ 2 4 ,725 ,484
$24,725 ,484
O F F IC E R S .— Pres., James McCrea; 1st V .- P ., John P. Green; 2d V .- P .,
Cbaries E . Pugh; 3d V .- P ., Samuel Rea; 4th V .- P ., J. B. Thayer Jr.; 5th
V .-P .a n d T reas..H enry Tatnall; Sec..Lew is Nellson. N .Y .office 85 Cedar St.
Directors.— Alexander M . F o x , N . Parker Shortrldge. Rudulph Ellis,
Charles E . Ingersoll, Clement A . Griscom. Henry C. Frick, W illiam
H. Barnes, Geo. W ood , C. Stuart Patterson, Effingham B. Morris, Thomas
D eW ltt Cuyler, Jas McCrea, Lincoln G odfrey, John P. Green, Charles E.
Pugh, Samuel R ea .— (V . 84, p. 1367; V . 85, p. 655, 794, 865.)
P E N N S Y L V A N IA COM PAN Y .— (See M aps Pennsylvania R R .) — Operates
all the Pennsylvania Railroad lines west of Pittsburgh.
Owns no road in fee.
Leased by transfer from P a. R R .:
Controlled by stock A c .:
M iles.
M iles. Pitts. Cin. Chic. & St. L . . .* 1 .3 7 1 .9 8
Plttsb. F t . W . <Sc Chicago___ *469.89 Cin. & Muskingum V a l l e y ..*148.45
28.15
Massillon & Cleveland_______
12.23 W aynesburg & W ashin gton.
45.75
Erie & Pittsburgh___________ *83.27 Cin. Leb. & N or______________
Cleveland & P itts b u r g h ___ 2 0 0 .9 1 1Grand Rapids & Indiana___ 4 23.15
Leased directly by Pa. C o.:
M u sk ., Gr. R ap. & In d___
36.85
Traverse City R R ________
26.00
Pitts. Youngs. & Ashta R y . *138.91
Cin. Rich. & Fort W a y n e . *85.83
Toledo W a l. V a l. & O h i o .. . *236.04
Controlled by stock or otherwise:
Vandalla R R ________________ *656.32
Cleveland (c Marietta_______ *103.13
Terre H aute & Peoria R R . . 145.12
Pitts. Ohio Val. & Cin______
15.27 Cleve. Akron & C o lu m b u s.. 193.76
3.51 W heeling Terminal R y ______
9.65
Marginal R R ., Beav. F .,P a 21.98 Louisville Bridge____________
2.44
South Chic. & Southern____
51.76
Controlled jointy:
Branches W .N . Y . & P a .R y .
2.31 Central Indana______________* 1 1 7 .5 8
Youngstown & R avenna___
Pitts. Chartlers & Y o u gh ___ *19.69
T o l. Peoria & W estern______*230.70
Total Penn. Co. lines______1,339.21 Trackage______________________ 167.92
•See this com pany.
Total of all lines___________ 5,048.55
O R G A N I Z A T I O N .— Chartered In Penn. April 7 1870.
Its $60,000 ,000
stock Is owned by the Pennsylvania Railroad. On Dec. 31 ’06 the Penn. Co.
owned sundry stocks and bonds having value per balance sheet of $222,3 21,321 , and yielding In 1906 an Income of $7,6 3 4 ,2 7 1 . See list V . 84, p. 928.
In 1907 the Chicago Indiana & Eastern, Converse, In d ., to Muncie, 43
miles, was acquired. V . 84, p. 1183.
D I V ’S .— 1 ’92. ’93. ’94. ’95 to ’00. ’01. ’02. ’03. ’04. ’05. ’06. 1907.
Per cent___ J 4
4
4
None
3
3
4
5
5
6 J u n e,3
B O N D S .— The gold bonds of 1921 are secured by leases of P . Fort W . &
C ., the Cleve. & Plttsb. and Erie & Plttsb. railroads, and of bonds and
stocks having a par value In 1881 of $ 2 4 ,1 7 1 ,6 3 0 , as well as real estate.
The guaranteed trust certificates, “ A , ” “ B ” and " C , ” were Issued by
Girard Trust C o., Philadelphia, as trustee, under a deed of trust made by
the Penn. Co. and the Penn. R R . C o ., whereby the Penn. Co. has pledged
an equal amount at par of the 7 % guar, special stock of the Plttsb. F t. W .
& Chic. R y . Co. The total authorized Issue of the trust certificates Is $ 20,00 0 ,0 0 0 , each series to be secured by deposit of shares of the special guar
anteed stock to an amount equal to the par value of the series, the sinking
fund having retired $870,000 to A p r. 1907. See V . 65, p. 368, 572, 1116;
V. 67, p. 122; V . 72, p. 339, 490.
The $ 1 0,000 ,000 guar. 3Vi % trust certificates, Series “ D ,” sold late In
1904, are part of a $20,000-,000 Issue to be Issued In series and secured by an
equal amount of Plttsb. F t. W . & Chicago guar, stock. V . 7 9 , p. 2457.
The 3 V i % gold loan of 1901 was Issued to pay for acquisition of stocks of
the Pennsylvania and Cambria Steel companies. They are gu ar., p. and 1..
by Penna. R R ., and are subject to call for redemption N ov. 1 annually
by lot at par In 15 equal drawings. V . 7 3 , p. 8 43, 957. Collateral Sept.
1906 consisted of $16,800 ,850 par value of stock Issues.
The $20,000,000 gold loan 4s of 1906, guaranteed, were In O ct. 1906
secured by deposit of $14,000 ,000 Pitts. Cine. Chic. & St. L. com . stock,
$ 4 ,000,000 Vandalla R R . stock, $3,660,100 W est J. & Sea Shore com.
stock, $2,216,500 Cleveland & Pittsburgh betterment stock and $ 2 ,240,800
of other stocks of railroads of system ; total par value of collateral, $ 26,117 ,400. V . 82, p. 335; V. 83, p. 1229.
On O ct. 1 1905 the $50 000,000 of 4V4% collateral betterment notes were
paid. Car trusts Dec. 1906, $ 1 1 ,360 ,666 .
The 2 5 0 ,000 ,000 French franc 3 34 % guaranteed loan of 1906 Is payable,
p. & 1., In francs. Denomination 500 and 2,500 francs. V . 8 2 , p. 1439.
R E P O R T .— Report for year 1906 was In V . 84, p. 9 28, showing, on
1.411 miles, $ 4 6,036 ,806 ; net, $10 ,1 8 8 ,8 7 7 ; other income, $ 9 ,2 4 7 ,0 8 1 ;
Interest, rentals, & c., $ 1 0 ,502 ,070 ; loan certs, redeemed, sink, fund, & c.,
SI 945.471 ; dividend ( 6 % ) , $ 3 ,6 0 0 ,0 0 0 ; extraord. exp. fund, $2 ,5 0 0 ,0 0 0 ;
b a l., sur., $ 8 8 8 ,4 1 7 .— (V . 84, p. 9 2 8 , 932, 1183; V . 85, p. 8 65, 1005.)
PE O R IA & B U R E A U V A L L E Y R R .— Peoria to Bureau Jet, 111., 47
miles. Leased in 1854 to Chicago Rock Island & Pacific R R . for $125,000
yearly; dividends, usually 8 % yearly, occasionally more.
PE O R IA & EA STER N R Y .— (See M a p s N . Y . Cent. A Hudson River R R.)
— Owns from Pekin, 111., to Indianapolis, In d ., 202 m ., and has a lien of $5,000,000 on Springfield Division, Indianapolis to Springfield, Ohio, 141 m .;
trackage, Pekin to Peoria, 9 m .; total operated, 352 miles.
L E A S E , & c.— Formerly Ohio Indiana & W estern, sold in foreclosure In
1890, reorganized per V . 49, p. 616.
Leased till April 1 1940 to Clev. Cin.
Chic. & St. L ., which guarantees interest, but not principal, of the 1st con
sols and the underlying bonds, and owns one-half the $10,000 ,000 stock,
par, $100. See " S u p p . " of Jan. 1894 as to provisions respecting any surplus
When
Payable.
Q— M
Q— M
Q— F
Q— F
Q— M
Q— M
Q— S
Q— J
Q— J
Q— F
M & S
M & S
M & N
& J
M & S
F & A
& D
J
J
& D
M
A
M
J
$3,000,000
3,000 000
3,000,000
1 ,20o,000
2,400 000
800,000
4 ,000,000
3,000 ,000
9,000,000
24,000,000'
300.000
200,000
2,000,000
19,467,000,
4 ,7 0 8 ,000i
9,303.000
4,837,000
10.000,000
11,996,000;
20,000,000
50,000,000
48,262,548!
3M
3Vi
3^
3^
4 g
3H
4
4
4
4
4.3
4.4
4 g
4^
3Vi
3^
3 Vi
SVi
3H
4 g
4X
3H
1,500,000
985,100
500,000
8 ,500,000
4 ,000,000
1,495,000
1,499,000
16,000,000
12,000,000
838,360
800 000
400,000
9 .207.000
F & A
4
A
& O
Q— J
5 e
4
A & O
4
April
Q— F
6 g
4 Vi g M & N
See text.
J
& J
6
Q— F
5Vi
5
J” & "j
4 g
g
g
g
g
g
g
g
g
g
g
g
Where Payable, and by
Whom.
lxxxv
.
\Bonds— Princ1
[pat. When D ue.
Stocks— Last
Dividend.
Commercial Tr Co, Phila Dec 1907-1912
Mar 1908-1913
do
do
May 1908-1913
do
do
Aug 1908-1913
do
do
i'vlay 1908-1915
do
do
Dec 1907-1910
do
do
Fidelity Trust Co, Phila Sept 1908-1915
June 1908-1916
do
do
‘Jan 1908-1916
do
do
11907-1916
do
do
Philadelphia
Mar 1 1909
do
Sept 1 1912
1923
Farmers’ L & Tr Co, N Y May
National City Bank, N Y July
1921
Union T r, N Y : & Phila Sept
1937
1941
Feb
Am er Exch B ank, N Y
1)1)42
do
do
Dec
1944
Phila, Pa, and N Y
Dec
1916
New York & Philadelphia Nov
Glr Tr Co, Phila and N Y April 1 1931
Nat B k o fC o m .N Y ; &Phl N ov 1 1907
Cred. Lyon, & c., Paris,Fr June 16 1921
A u g 1 019 07 4 %
April 1 1940
April 1 1938
April 1 1940
April 1 1990
Feb 1 1921
Feb 1 1921
July 1 ’ 05 2 Vi %
July 1 ’ 05 2 %
July 1908
T o Aug 1909
............ . . j M a r l 1908
J P Morgan & Co. N Y Jan 1 1955
Chic R I & Pac R y . N Y
J P Morgan & Co, N Y
do
do
do
do
4 % paid April 1 1907
Central Trust Co, N Y
do
do
R W lnthrop, N Y ; & Bost
do
do
over charges. Company owns $12 5 ,0 0 0 stock of the Peo. & Pekin Union
R y .. on which 6 % yearly was paid 1895-1902 and 5 % In 1905. V . 7 4 , p. 152 .
B O N D S .— See abstracts of m tges. of 1890 In V . 5 1 , p. 2 4 6 , and of O.
Ind. & W e s t, m tge., V . 4 7 , p . 201 .
IN C O M E S .— Dividend on Incomes 4 % yearly, paid April 1 1902 to 1907,
both Inclusive, from earnings of preceding calendar year.
E A R N I N G S .— For 8 months ending Aug 31 190 7, gross, $ 1 ,9 3 5 ,7 3 3
against $ 1 ,9 9 2 ,3 7 6 in 1906.
Cal. year.
Gross.
N et.
Other inc.
*Charges.
Balance.
1906 .......... ..$ 3 ,0 5 9 ,2 8 1
$ 8 5 9,88 5
$ 8 ,775
$695,859
$172,801
1905 ________ 2 ,9 6 0 ,7 2 7
805 ,8 6 2
2,6 7 5
689 ,222
119,315
* Includes $ 1 6 0,00 0 ( 4 % ) Interest on incomes.— (V . 8 0 , p. 1363.
PE O RIA & P E K IN T E R M IN A L R Y .— See “ Street Railw ay” Section.
PE O R IA & P E K IN UNION R Y .— Owns Pekin to Peoria, on both sides
of Illinois River, and yards at and opposite Peoria. Mileage main track,
18.14; second main track, 8 .8 0 ; total main track, 26 .9 4 miles. Mileage of
side and yard tracks, 6 7 .3 8 . Capital stock, $ 1 ,0 0 0 ,0 0 0 .
Owned by Peoria
& E ast. (Clev. Cin. Chic. & S t. L . system ), Chic. & N o rth w estern , Chic.
Peo. & St. L ., 111. Central system . Lake Erie & W estern and Tol. Peo. &
W est, companies. Dividends 189 5 -1 9 0 2 , 6 % per annum; 190 3, 4 % ; 1905
5%
Earnings for cal. year 1905, gross. $ 9 1 3 ,8 1 8 ; net. $ 2 8 4 ,9 0 8 ; charges,
$17 6,53 0; dividends ( 5 % ) , $70 ,0 0 0 ; b al., sur., $ 5 8 ,3 7 8 .— (V . 83, p. 7 5 2 .)
PERE M A R Q U E T T E R R .— The road Includes:
M ile s
Lines owned—■
M iles.
Other lines, branches, & c_______ 277
Alexis (near Toledo) to LudlngPorter to Clark J e t., In d _______
21
ton on Lake Michigan________ 365
Trackage — -----------------------------111
La Crosse, In d ., to B ay View ,
M ic h .________ __________________ 4 3 4 S t. Thom as, O n t., to Interna.
Bridge and Niagara, N . Y ___ 136
Detroit to Grand Rapids, M ich . 167
Other trackage___________________ 120
Saginaw and Port H uron_______ 121
Leased (G. R . K al. & S . E.) —
Pt.H uron to Grindstone C ity___ 125
40
Rapid City to Stratford________
Grand Ledge to Big Rapids____ 147
Allegan to Pentwater___________ 130
London & Port Stanley__________
24
W alkervllle to St. T hom as______127
T o t a l....................... ........................2,396
Sarnia to R ondeau_______________
72
The Pere Marquette operates car ferries Ludlngton to Milwaukee and
Manitowoc; Marq. & Bes. Dock St N avigation; also on Lake Erie, Rondeau
to Conneaut.
V . 7 6 , p. 383; V . 7 8 , p. 103.
From South Haven to Lawton, M ich., 37 miles. Is leased to K al. Lake
Shore & Chic. R y . for 25 years from April 15 1907. V . 84, p. 868.
R E C E I V E R S H IP .— On Dec. 4 1905 Judson Harmon of Cincinnati was
appointed receiver of the Pere Marquette and Cin. H am . & D ayton. V . 81,
p. 1666. The receiver obtained authority to issue $839,360 receiver’s cer
tificates to pay the 1906 coupons falling due. V . 81, p. 1849; V . 8 2 , p. 162;
V . 83, p. 38, 9 69, 1525. The 1907 coupons were paid from earnings.
V . 8 4 , p. 101.
On May 4 1906 authority was given to Issue $ 1 ,200,000 receiver’s cer
tificates to pay taxes for 1902 to 1905. to be a first lien on property In Michi
gan. V . 82. p. 1041, 1102, 1157: V . 8 3 . p. 969, 1032.
In Mch. 1907 a settlement was made under which the $ 3 ,500,000 collateral
trust bonds secured by the entire stock of the Chicago Cincinnati & Louis
ville were canceled and the stock returned to the original holders. $400,000
P. M. receiver’s certs, being given to C. C. A L. V . 8 4 , p. 507, 6 93, 804.
Stockholders' Protective Committee.— In April 1906 over 7 1 % of the
outstanding pref. and a large amount of the com . stock had been deposited
with a com m ittee, Nathaniel Thayer, Chairman; Francis R . H art, Sec. (Old
Colony Trust C o., Boston, and Manhattan Trust C o.. N . Y . . depositaries).
V . 8 1 , p. 1666, 1849; V . 8 2 , p. 4 9 , 987; V . 8 4 , p. 1368: V . 85, p. 161.
O R G A N I Z A T I O N .— A consolidation In 1899 of Chic. & W e st. Mich. R y ..
D et. Gr. R ap. & W e st. R R . and Flint & Pere Marq. R R ., per plan In V . 68.
. 1024, 1181. A 99-year agreement for trackage with the Mich. Cent, and
an. South, from St. Thom as, O n t., to International Bridge and Niagara,
136 miles, extends the line easterly to Buffalo, from July 18 1904. V . 77,
p 2097; V . 78. p . 2600.
In 1904 the Cin. H am . & D ayton acquired $12,834 ,450 of the $16,000 ,000
common and $1,487,800 of the $12,000 ,000 preferred stock.
R E O R G A N I Z A T I O N P L A N .— The plan announced July 1907 ( V .8 5 , p.
4 1 , 100) and approved by both Thayer and Gale stockholders’ com m ittees,
provides that a new com pany shall be formed with the same total authori?ed
stock as the present, v iz .: $16,0 0 0 ,0 0 0 common and $ 1 2,000 ,000 preferred,
but the latter will consist of two classes, v iz .: 4 % first preferred stock,
cumulative after 3 Vi years, with preference also as to assets, and 4 % noncum ulatlve second preferred stock, without preference as to assets. The
new com pany will take over the property, without foreclosure, assuming
the existing bonded debt, and issue $ 5 ,000,000 6 % 5-year debentures to
pay the floating debt and equipment payments due in 1907, to which
present preferred stockholders were given the right to subscribe at par to
the extent of 5 0 % o f their holdings. The holders of common stock
could subscribe at par for new debentures to the amount of 2 0 % of
their holdings. Holders of old preferred and common stock subscribing for
the new debentures will receive 115 In new first preferred and 120 In new
common stock, respectively. In exchange for their holdings; those not
subscribing, par in new second preferred and common stock, respectively.
D I V I D E N D .— On pref., 1901 to Feb. 1905, both Incl., 4 % yearly (F .& A .)
On co m ., 1903, 2 % : 1904, 1 % ; 1905. April, 1 % .
B O N D S .— The refunding 4s of 1905 ($60,000,000 authorized Issue; ou t
standing $ 9 ,2 0 7 ,0 0 0 , are guar., p. & 1.. b y C. H . & D . V . 8 0 , p. 163.
The collateral trust gold bonds of 1902 (limited to $2,870,000) are secured
by the entire capital stock ($1,400,000) of the L . E . & D et. R iv. R y .. the
National Trust C o., L t d ., of Toronto, being trustee, and are subject to call
on any Interest day on 60 dayR’ notice. V . 75, p. 1302: V . 76, p. 213.
Lake Erie & Detroit River Division m tge, V . 76, p. 1356: V . 77. p. 89.
Pere Marquette R R . of Indiana 4s of 1903 (authorized $3,000,000) are to
be assumed.
V . 76, p. 919, 1193; V . 85, p. 469.
Marq. & Bes. D ock & N av. 1st M. bonds are guaranteed Jointly, by P . M
and Bess. & Lake Erie. They are subject to call In whole or part at 105, and
1 % must be called yearly for the s. f. at the same price, If not purchasable
at a lower figure. V . 76, p. 4 80, 594, 7 06, 922, 1034. Form of guaranty,
p. 1358.
Debenture 5s of 1905, V . 8 2 , p. 161.
8
115
RAILWAY STOCKS AND BONDS
R A IL R O A D S .
For explanation of column headings, & c ., see notes
on first page of tables.
IN T E R E S T OR D IV ID E N D S .
M iles Dale
of
of
Road. Bonds.
Pere Marquette— (Concluded) Underlying Bonds—
Chic & W est Mich gen M ($12,000 per m ile )._N B c*
480
D Gr R & W 1st cons (now 1st) M law m oney.O B.c*
380
Flint & Pere Marq M ($1,000,000 are 4s) gold____ c
280
Consolidated mortgage gold________ ______ ____Ce.c*
400
Pt Huron Div first mortgage (53,500,000) g .C e c*
235
Toledo Division first mortgage gold_______ IB.c*
19
Ch & N M 1st M gu p & 1 end by Ch & W M ..O B .C *
89
Grand Rap Kal & S E first M sinking fund_______ IB
33
Western Equipment Co call at par_________________
Equip bonds g {7 6 ,0 0 0 due seml-ann. ( V 7 9 ,p 1642)
Marquette equip first M guar s f call at par_______
East equip 1st M g gu p & 1 call par (t e x t )-.S S t.c *
Pere Marquette consol M 5 5 0 ,0 0 0 ,0 0 0 _______ F c&r
L E & Det RIv D iv col M g o l d _____________ Mo
Collat trust mortgage gold call p a r ________________
Saginaw Tus & Huron 1st M p & I gu aranteed.. N
66
Grand Rap Belding & Sag 1st M gold Interest rental
28
Pere Marq of Ind call 105, to be assu m ed ____ K c ' T ext.
Ser “ B ” equip, bonds. Morley & Potter, trustees.
Marq & B D & N guar p & 1 call 105 sinking fund c*
do
do
debenture guaranteed p & 1. .c *
Oblig for freight cars due part mthly (V 82, p 752)
Perkiomen— 1st M Ser 1 (1st loan) g guar p & I . PeP.c*
38.3
First M Ser 2 (2d loan) g guar p & 1 (end)___ PeP.c*
38.3
Peterborough RR— Stock (rental 4 % ) __________________
Petersburg RR— See Atlantic Coast Line R R .
Phila & Balt Cent— 1st M $ 2 ,500,000 ($1,200,000 4 J^s)
Phila Baltimore & W ash— Stock auth $ 2 5 ,3 5 0 ,4 5 0 ..;
P W & B (old Co) plain b o n d s ..
--T
Plain bonds___________________
All secured
--T
Plain bonds_______ ___________
by 1903
- .r
Plain bonds g o l d ____________
mortgage.
--r
Plain bonds g o l d ____________
_ .r
Balt & Potomac 1st M (tun) g s f not drawn____ xc*
1H
First M road guar gold sink fd not drawn____ xc*
92
1st mortgage $20,000 ,000 g o l d ____________ M o.c’ &r
214
Phila & Ches V— 1st M pref old 5s red ’96 g o ld . PeP.c*
First M old 4s not pref lnt reduced In ’96 gold Pe P.c*
Size, or
Amount
Par
Value. Outstanding
1881
1897
1880
1889
1889
1897
1891
1897
1899
1904
1900
1903
1901
1903
1903
1900
1899
1903
1898
1903
1905
1906
1888
1888
$ 1,000
500 &c
1,000
1,000
1,000
1,000
1,000
1,000
1,000
1,000
1,000
1,000
1,000 &c
1.000
1881
1,000
50
1,000
1,000
1,000
1,000
1,000
1,000
1,000
1,000 &c
500
500
18 8 5
1887
1887
1891
1892
1871
1871
1904
1888
1888
1,000
1,000
1,000
1,000
1,000
1,000
100 &c
1,000
100
The Eastern equipment 5s of 1903 are in two series— A for $1,500,000 and
B for $2,000 ,0 0 0 ; the entire Issue m ay be called on 6 months’ notice and $75,000 of the As and $100,000 of the Bs are redeemable March 1 yearly. V .7 6 ,
p . 866,
Form of guaranty, V . 7 7 , p. 90.
In March 1906 2,000 box cars were ordered, to cost $2 ,1 6 0 ,3 1 7 m onthly
payments to be made on account extending over 7 years from delivery, with
Interest at 5 % .
V . 82, p. 752. There are also $64,000 Lake Erie &
Detroit River equipm ent 5s of 1904.
R E P O R T .— For year ending June 30 1907 was in V . 85, p. 1002.
Year ending June 30—
1906-07.
1905-06.
1904-05.
Gross earn in gs..................................... .$ 1 4 ,2 1 4 ,1 9 5
$13,430 ,170
$12,667,427
Operating expenses................................
9,9 7 7 ,3 5 2
9 ,933,094
9,915,777
When !
Payable.
Where Payable, and by
Whom.
Bonds— Princi
pal, When D ue.
Stocks— Last
Dividend.
5
J & d !j P Morgan & Co, N Y
|Dec 1 1921
$5,758,000
4
A & O Second N at B ank, Bost April 1 1946
5.379.000
5.000.000 4 g & 6 g A & O J P Morgan & Co, N Y|Oct 1 1920
2.850.000
5g
|M & NiCentral Trust Co, N Y iM ay 1 1939
3.325.000
5 g
A & o|j P Morgan & Co, N Y|April 1 1939
400.000
5 g
J & Jilnternat Tr Co, Boston July 1 1937
1.667.000
5
|M & NiSecond N at Bank, BostjM ay 1 1931
200.000
5g
A & 0,ln tern a t Trust Co, Bost Oct 1 1907
26,000!
6
lA & 0 50 State Street, Boston April 1 1909
4 ^ g)A & O New York or St Louis jApr ’ 0 8 -0 c t 14
1.140.000
5
A & O 50 State Street. Boston Oct 1 1910
389.000
2,612,000!
5 g
M & S R W in & Co, N Y & S t I, Mar 1 1 9 0 8
4 g
J & JjJ P Morgan & Co, N Y Jan 1 1951
8.382.000
3.000.0001
4^ g F & A
do
do
Aug 1 1932
4g
J & JlSt Louis U n Tr Co, St L Jan 1 1923
2.870.000
1.000.000
4 g
F & A|J P Morgan & Co, N Yj Aug 1 1931
5g
M & S! International Tr Co, B ostM a r 1 1924
260.000
4g
M & N Knickerbocker Tr C o ,N Y May 1 1943
675,000;
5
A & OiSec N at Bk, SaginawMichiTo Oct 1 1908
18,000!
4 « f A & O! New York
April 1 1933
396,0001
100,000
5
J & J]
do
IJan 1 1935
5
...................................... ................................. ITo Jan 1 1914
3,421,360
5 g
Q— J
Reading Term Bldg, Phil.Jan 1 1918
799,600
5 g
Q— J
do
do
IJan 1 1918
1,125,000]
4
A & O ;Nashua, N H
O ct
1907 2 %
385,000
2,200,000 4 H & 5
2 3 ,493,550 4 in 1906
1,000,000
5
4
1,000,000
4
1,000,000
930,000
4 g
1,000,000
4 g
1,500,000
6 g
3,000,000
6 g
10,570,000
4 g
280,510
4 %
100,000
3 g
M
J
J
A
M
J
A
J
A
M
A
A
&
&
&
&
&
&
&
&
&
&
&
&
Nov
N Penn R R Co, Phila
D Broad St Station Phila;July
D Off, Phil; K id d, Peab,Bos June
do
do
April
OI
N Broad St Station, Phlla|Nov
do
do
iJan
j!
do
do
Oct
o
j /N a t Mech B ank, B alto"!!July
& London
J April
o1
N A m E x N Bk, N Y ; & Phil Nov
O Philadelphia
iAprll
do
'April
o
1
1
1
1
1
1
1
1
1
1
1
1
1911
1907 2 %
1910
1917
1922
1926
1932
1911
1911
1943
1938
1938
vania R R stock share for share, or $C8 per share in cash
V . 84, p. 1183.
P H IL A D E L P H IA & F R A N K F O R D R R .— Owns from Crescentville to
Frankford, P a ., 2.6 miles. The $500,000 stock Is owned by Reading C o .,
of which $498,950 is deposited under Its mortgage of 1897; prin. and 4 %
int. Is guaranteed by Reading Co.— (V . 67, p. 1358, 1357.)
P H IL A D E L P H IA G E R M AN TO W N & N OR R ISTO W N R R .— P h ila., P a .,
to Norristown and Germantown, P a ., 20.96 miles; second track, 20.35 m .;
3d track, 3.02 m .; total track, 95 miles, leases Plymouth R R ., 9 m. Leased
On N o v .10 1870 to Phila. & Reading for 999 years; rental, $ 2 7 7 ,6 2 3 , in
cluding $8,000 yearly for organization expenses.
P H IL A D E L P H IA H A R R IS B U R G & PITTSBU RG H R R.— See page 178.
P H IL A D E L P H IA H A R R IS B U R G & PITTSBU R G H R R .— Harrisburg
$4,236,843
$3,497,076
$ 2,751,643
P a ., to Shlppensburg, on the Western Maryland R R ., 47 m .; 2d track,
Other incom e.
138,988
161,353
441,036
14.54 m .; sidings and laterals, 16.97 miles. Leased Oct. 15 1890 for 999
years at 5 % on stock. Interest on bonds, taxes and expenses to the Phlla. &
$4,375,831
$3,658,429
$3,192,679
Reading R R ., which by endorsement on each guaranteed the bonds, prln. &
D edu ct$2,578,917
$ 2 ,500,612
$2,178,955
Int. Lease assumed In 1896 b y Phlla. & Read. R y. Stock, $2,000,000 (par
168,958
54.996
59,698
$50), owned by Reading C o., of which $ 1 ,9 9 5 ,0 0 0 , along with $ 1 ,472,000 of
Rental
717,918
766,850
561,794
the bonds also owned by the Reading Co. are deposited under its general
Taxes .
477,816
* 1 .196,918
414,663
mortgage for 1897. Mortgage Is for $2,000 ,0 0 0 .
P H IL A D E L P H IA N E W T O W N & N E W Y O R K R R .— Philadelphia to
B a la n c e ..............................................s u r .$432,222 d e f.$860,947
def.$22,431
*
Including taxes for years 1902 to 19J5.— (V . 85, p. 161, 222, 346, 469. Newtown, P a ., 22 miles; sidings and laterals, 3.90 miles. Stock— common
655, 794. 1002.)
$1,225,000; preferred, $400,000; par, $50.
Of the bonds, $849,100 (with
coupons only partly paid— see V . 64, p. 331) are owned by the Reading Co.
P E R K IO M EN R R .— Owns from Perkiomen J et., P a ., to maus Jet.. P a .,
and deposited under Its general mortgage of 1897. In O ct. 1898 Interest on
38.3 m .
Stock ($1 ,5 0 0 ,0 0 0 , par value of shares, $50) owned bv the Read
$507,000 bonds was reduced to 3 % , from April 1 1897, and made a first
ing Co. and m ostly deposited under Its Jersey Cent, collat. 4 % m tge. of 1901.
charge, that on remainder of Issue being left at 5 % subject to said agree
V . 72, p. 283.
Reorganized In 1887.
In year 1905-06, gross, $568,f>80;
ment.
V . 68, p. 773. Current liabilities June 30 1906, $778,804.
Year
net, $346,021; Interest and taxes, $116,336; dividends ( 7 % ) , $105 ,00 0;
endlncr June 30 1906. gross, $165,459; net, $64 482.
balance, surplus, $12 4 ,6 8 5 .— (V . 72, p. 283.)
P H IL A D E L P H IA & R E A D IN G R R .— See "R ea d in g C o m p a n y ."
PETERBO RO U GH R R .— W ilton to Greenfield, N . H ., 1 0 ^ miles.
P H IL A D E L P H IA & TRENTON RR.— Phlla. (K ensington), P a ., to
Leased April 1 1893 to Boston & Lowell for 93 years at 4 % on stock and ex
Morrl:-'v!lle, P a ., 26 miles, mostly four-tracked, and branch 3 m. On June 30
penses. Capital stock, $385,000; par, $100; d iv ., A . & O.
1871 leased, with the United Cos. of N . J , for 999 years to Penn. R R . at
P H IL A D E L P H IA & B A LT IM O R E C E N TR A L R R .— W est Phlla. to
1 0 % on $494,100 stock, the balance, $765 ,00 0, being owned by United
Octoraro J et., M d ., 63 m .; W aw a to W est Chester, P a ., 9 m . (double track,
R R s. of N . J.
11 m .); branch, 2 m .; leased, Chester C reek ,R R ., 7 m .; Phlla. B alt. & W ash,
P H IL IP P IN E R A I L W A Y .— (See M a p ).— P R O P E R T Y .— Under a con
holds $ 2 ,497,150 of the $2,499,184 stock.
For 1906 gross earnings $ 1,228,cession granted July 13 1906 by the Philippine Government. In accordance
449; net, inc. other Inc., $138,018; charges, $178,039; b a l., d ef., $ 40,021 .
with an Act of Congress of the United States in 1 9 0 5 ,and with the approval
of the Secretary of W ar, this company has contracted to build lines of
P H IL A D E L P H IA B A L T . & W A S H IN G T O N R R .— (See M a p Penn. R R .) .
railroad in the Philippine Islands as follows: Island of Panay, 100 miles;
Lines owned—
M iles.
Lines controlled, leased, & c.—
Phlla. to W ashington, D. C ., via
Negros, 100 miles, and Cebu, 95 miles. The construction of 35 miles on
Phlla. & Balt. Central*___________ 80
Cebu Is optional to the com pany, which has the right under the contract to
B alt, (all double t r a c k ) ________ 136 Delaware R R .* ____________________ 248
construct an additional 25 miles of main line on each of the Islands.
Bowie to Pope's Creek, M d_______ 49
Delaware M d. & V a .* ............ ............97
Definite location surveys have been completed as follows; Panay, 105
Branches to Delaware City, & c ._ 3 3 1Other lines (5 )_____________________ 59
miles; Negros, 71 miles; Cebu, 80 miles. About 20 miles o f road on Cebu
is in operation, extending from Cebu to Danao. Additional sections of
Total (*see this com p any)_____________ _____ ______ _____________________702
20 miles each are nearing completion on Panay and Cebu, extending on the
O R G A N I Z A T I O N .— A consolidation N ov. 1 1902 of the Philadelphia
former from Iliolo to Pototan, and on the latter from Cebu to Carcar.
W ilm ington & Baltimore R R . and Baltimore & Potomac R R . V . 75, p.
O R G A N IZ A T IO N A N D S E C U R IT IE S .— The company was Incorporated
395, 1032; V . 82, p. 510. See Washington Terminal Co. on another page.
March 5 1906 under the laws of the State of Connecticut with an authorized
S T O C K .— Stock authorized, $ 2 5 ,350 ,450 ; outstanding Jan. 1 1907 $23,capital of $5 000,000 and is being financed by a syndicate headed by W illiam
493,5 5 0 , of which $ 2 3 ,490 ,775 owned by Penn. R R .
Salomon & Co. V . 80, p. 2022; V . 82, p. 219, 752; V . 83, p. 493, 970, 1412;
Dividends since consol., Dec. 31 '02 to July ’07, 4 % yearly (J. & D .).
V . 85, p. 794. Under the terms of the concession the Philippine Govern
B O N D S .— The first mortgage of 1903 ($20,000,000 authorized) Is a first
ment. guarantees payment of int. on an issue of 1st M . 30-year sinking fund
lien on the Philadelphia-Baltimore division, 117 miles, all double-tracked,
4 % gold bonds, which m ay be issued to extent of 95 % of cost of construc
and also secures pari passu the $ 4 ,930,000 debentures of the former P . W . &
tion. A n y int. payments by the Government become a cum ulative lien of
B.(see p .4 of " S u p p .’ of A p r .1895), and Is a second lien on the line from Bal
the property, subject to the lien of the 1st M. bonds. The entire issue of
timore to W ashington. O f the bonds, $10,570 ,000 were sold, the proceeds
bonds is subject to redemption at 110 and interest on any int. date.
Bonds
to be used chiefly In connection with the new terminals and .approaches In
m ay also be drawn by lot at 110 and interest for an annual sinking fund
W ashington, the balance being reserved to retire the debentures and Balti
which m ust be established after July 1 1911 before any dividends can be
more & Potomac bonds. V . 78, p. 49. M tges., & c., 1906, $200 ,97 3.
The stockholders on July 31 1907 authorized an Increase of $5,00 0 ,0 0 0 in paid on the stock. The Government concession provides that in lieu on
Indebtedness, to be represented by bonds or otherwise, as m ay be later all other taxes the railway shall pay hi of 1 % ol gross earnings per annum
during the life of the bonds and provides further suitable restrictions for a
decided upon. V . 84, p. 1368; V . 85, p. 284.
period of 50 years thereafter.
E A R N I N G S .— 8 m os.,1 1 9 0 7 ............. Gross, $ 1 1,303 ,516 ; net. $2,247,320
The bonds have been accepted by the Secretary of the United States
Jan. 1 to A u g. 31.
(1 9 0 6 -----------Gross. 1 0 ,326,816; net, 2,596,020
Treasury as security for Government deposits in national banks
R E P O R T .— Report for year ending Dec. 31 1906 in V . 84, p. 992.
Year
D IR E C T O R S .— Gen. C. R. Edwards, Gen. T . H . Hubbard, Clarence
ending March 31 1907, gross, $16,1 6 7 ,6 8 7 ; net, $3 ,2 9 5 ,3 9 9 ; other Income,
M cK . Lewis, Major Frank M cIntyre, W m . Barclay Parsons, J. G. W hite,
$ 7 93 ,12 8; first charges, $ 1 ,5 4 5 ,8 6 2 ; dividends ( 4 % ) , $939 ,74 2; extra
Alonzo Potter, Frederic H . R eed, W illiam Salom on, Charles M . Swift,
ordinary expenses, $1,5 6 2 ,3 8 9 ; balance, surplus, $40,534.
Cornelius Vanderbilt.
„
„
Year ending Dec. 31—
1906.
1905.
1904.
1903.
O F F IC E R S .— Chairman. W illiam Salomon; Pres., Charles M. Sw ift;
Gross ea rn in g s............... .$ 1 5 ,9 4 1 ,2 4 1 $14,676 ,204 $13,525 ,757 $13,585 ,849
V .- P .. Frederic H. Reed and C. Lewis; V .-P . and Chief Engineer, W illiam
Operating exp en ses____ $ 11,599,989 $ 1 0,802 ,932
S9.089.971
$ 9 ,819,089
B Poland; V .-P . and Asst. Treas., Stewart W aller; Treas., J. M. W ein
Rentals on basis net earn
832,987
751,526
S74.068
822,256
berger; Sec., P. H . Ashm ead.
Office. 43 Exchange Place, New York C ity.— (V . 85, p. 794, 865.)
N e t..................................... $3,508,265
$3,121,746
$2,661,718
$ 2 ,944,504
PINE C R E E K R V .— Owns Stokesdale J et., on the Fall Brook Road, to
Int. on Investment, & c.
776,556
804,940
683.932
745,478
Newberry Jet., P a ., 75 miles. The N . Y . Central controls the capital stock
and
leases the road for 999 years from May 1 1899 for $35,000 yearly, paya
Total net Income____ $4,284,821
$3,926,686
$3,345,650
$3 689.982
ble quarterly ( Q .-F .), bond Interest and taxes. V . 68, p. 379, 573, 773, 872.
Fixed rentals____________
$49,948
$49,785
$49,912
$49,785
The first mtge. is guaranteed by the Reading and the New York Central
Interest on bonds___~~~
900,000
900,000
876,909
618.450
Jointly and severally. See form of guaranty, V . 56, p. 650. Stock, $ 1 ,0 0 0 ,Ground rents, &<■________
12,747
12 747
12,769
12,155
000 (par $50): Jan. 1 1907 N. Y . Oentral owned $ 9 9 9 ,0 0 0 .— (V . 68, p. 573.)
Other
@FedFRASER