Full text of Commercial and Financial Chronicle : October 27, 1883 : Investors' Supplement, Vol. 37, No. 957 [Copy 2]

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OP TH®

C ommercial & F inancial Ç hronicle.
[E ntered a ccord in g to a ct o f C ongress, in the year 1883. by W m . B. D a n a & C o., in the office o f the Librarian o f C ongress, W ashington, I>. C.]

NEW YORK, OTCOBER 27, 1883.

INVESTORS’ SUPPLEMENT
OP THE

'

reads “ the preferred stock shall be entitled to a dividend
o f — per cent out o f net earnings.”

O f course,

while

this point remains in doubt, railroad managers can pursue

& jfhranxral (¡^¡jrontdje.

almost any course they please in that regard, so long as no

The S u p p l e m e n t contains a complete exhibit of the Funded Debt Of
St ates and Cities, and of the Stocks and Bonds of Railroads and other
Companies.
It is published on the last Saturday of every other
month—viz., February, April, June, August, October and December.
It is furnished without extra charge to all regular subscribers <r
the Ch r o n ic l e . Single copies are sold at $2 per copy.
W IL L IA M

upon the words “ net earnings” where the phraseology

B . D A N A & CO., P u b lish ers,
79 <£ 81 William Street.

dividends are paid on the1com m on stock.

ter has heretofore been involved, has had its good results
in m aking the fram ers o f stocks of this kind m ore careful,
and pretty nearly all the recent issues o f preferred stocks
state the preference with much greater clearness, and even
go so far in some cases as to define the term net earnings.
In case of the N ew Y o r k

PREFERRED RAILROAD STOCKS.

It is well to

remark, however, that the uncertainty in which the m a t­

L a k e Erie & W e ste rn , which

is perhaps the m ost important of its kind, the point turned

W i t h the increase in the num ber o f preferred stocks

upon the right o f the

m anagement to divert net earnings

dealt in at the Stock E xchanges, the subject o f the advan­

from dividends upon the preferred stock to the m aking o f

tage

improvements.

or

preference

held

b y this class

of

shares

ordin ary shares is assum ing greater im portance.

over
Som e

years ago, an extended article was given in the S u p p l e ­
m ent,

show ing sonny o f the peculiarities o f the different

issues of preferred stocks outstanding, but there have been

ings.

There was no question as to the net earn­

It was adm itted that there had been a surplus (the

year covered was that o f

1 8 7 9 -8 0 ) above expenses, inter

est charges, &c., but it was claimed

that

the board o f

directors had the right to use the surplus for the benefit

so m any additions to the list since then, and inquiries con­

o f the whole property, if they so saw fit, and further that

cerning these stocks are so frequent, that it seems desir­

that was the general understanding

able to bring together once m ore all the available in for­

reorganization.

It was argued, too, that the phrase “ as

declared by the

board

m ation upon the subject.
The general character o f a preferred stock is, o f course,
pretty well understood.

W e all know that it possesses

some superiority over com m on or ordinary stock.

The

at the time o f the

of directors,” as given in the cer­

tificate of incorporation, referred to the word “ dividend ”
and not to the word profits.

But the court rem arked that

the profits that belonged to the

preferred stockholders

precise extent of this superiority, however, in any given

“ could not be passed by for the benefit of other interests,

case, is not so well known, since the preference is widely

“ however

intim ately

connected,

any

m ore

than

other

different in the case o f different companies, and depend­ ““ property of the preferred stockholders could be appropri

pn the ground that such,appro

en t upon the contract expressed in the certificate o f stock

“ ated to the same purpose,

or act o f incorporation, defining the rights and privileges

“ priation o f it would be for the best good of the whole.”

to which the same is subject.

A

preferred

stock rather

because they

think

than

M any persons will buy a
a common

the form er

is surer

of

Circuit Court) in favor o f the plaintiff, But the company

dividends

has appealed to the U . S. Suprem e Court, where the case

than t h e ‘ latter, but without any exact know ledge of the
The legal status o f a preferred stock has not yet been
In this respect the

stock is very m uch like the incom e bond.
either kind o f

awaits a final decision of the point at issue.
A side, however, from

term s of preference.
determ ined with sufficient clearness.

decree was accordingly given (Judge W h e ele r, U . S.

simply

stock,

The holder of

security m ust look partly to the animus of

those in control for his interest or dividends.

E ven where

withhold

dividends,

the right

each

o f directors to pay or

preferred

stock

ant than any general point in dispute.
cumulative— that is, if

The stock m ay be

dividends are not earned in one

year they m ay be a charge upon the earnings o f subse­

liability for the charge' is admitted, the directors frequently

quent years until paid in

m ake

m ight bear a large amount o f accumulated

payment,

not at the tim e

when

the interest or

dividend has accrued, but at a subsequent period, as wit­
ness the 55 per cent bond paym ent in

1881 on the St.

has its own

peculiarity or individuality, which is really more im port­

full— in which case the stock
interest m ate­

rially enhancing its value, or the stock m ay have no claim
for dividends except upon the earnings o f each particular

L o u is A lto n & Terre H au te preferred stock, and the 12

year.

per cent dividend in 1883 on the N ew Y o r k Ontario &

fixed percentage which can not be exceeded in any event,,

W e ste rn preferred stock.

or the stock m ay be entitled to share with other classes o f

The question o f the rights o f preferred stockholders has

Then, the rate

o f dividends

m ay be lim ited to a

stock in any surplus above a certain amount.

In the ease

com e up in the courts a num ber of times, but there does

o f the St. L ou is

not appear to have been in a n y case a clear adjudication

there was a priority of lien upon net revenues for its divi-

o f the point as to just what interpretation should be placed

dends




&

San Francisco first preferred stock,

over any m ortgage

subsequently created.

In the

INVESTO-tiS* SUPPLEMENT.

2

case o f N orthern Pacific preferred, the paym ent o f a divi­
dend is subject to the

requirements fo r additional equip­

ment, and the stock also has the provision (recently become
fam ous b y the operations on the stock market) that no fu r­
ther m ortgage after the first can be placed upon the prop­
erty unless approved by at least three-fourths o f the pre­
ferred stockholders.
Th e several conditions
found

pertaining to each stock will be

in the extracts below.

It is scarcely necessary to

say that m any o f these stocks are introduced here, not
because they are paying dividends er haye any immediate
prospect of doing so, but m erely because o f their belong­
in g to the general class o f preferred stocks, and the list
w ould be incomplete without them.
BUFFALO NEW YORK & PHILADELPHIA.
The certificate of this company leaves no doubt as to whether
dividends are cumulative. It says that dividends are payable
only out of the earnings of each year, and then reiterates that
said dividends shall be non-cumulative :
“ Preferred stock is entitled to a preference in the payment of divi"
dends to the extent of six per cent ‘In any one year, payable only out of
the net earnings of that year applicable to dividends, and after payment
thereof the common stock shall next be entitled to payment of dividends
out of net earnings, if any, of such yea r; after-the payment of such, divi­
dends shall be paid upon all the stock of said company without prefer­
ence to either. Such dividends are non-cumulative and may be declared
and paid annually, semi-annually or quarterly.”
*
*
*
CENTRAL IOWA.
In the terms of reorganization, the preference of each class
of stock is stated as follows:
. “ The first preferred stock” * * * * “ shall receive such dividends
m each year, not exceeding 7 per cent, as the road for that year shall
earn m net profits, after paying the interest on the bonds.
_ “ The second preferred stock” * * ,* * “ shall receive such divi­
dends in each year, not exceeding 7 per cent, as the road for that year
shaU earn in net profits, after paying the interest on the bonds and 7 per
cent dividend on first preferred stock.
“ Any surplus, after paying 7 per cent dividends each on first preferred,
second preferred and common stock, shall be divided pro ra ta ”
CHESAPEAKE & OHIO.
The terms of priority are not stated in this company’s certifi­
cates, but in the plan for the purchase and reorganization of
the road, of date December, 1875, the preference of the 1st
preferred stock is stated as follows:
“ This stock to be entitled to dividends at the rate of 7 percent per
annum, out of the surplus revenues of the company, before any dividends
shall be declared or paid on the second preferred or common capital
stock.” In the same agreement the preference of the second preferred
stock is stated thus :
This stock to be entitled to dividends at the .rate of 6 per cent per
annum, out of the surplus revenues of the company, before any divi­
dends shall be declared or paid on the common capital stock.”
CHICAGO & ALTON.
. The certificates read as follows:
“ This preferred stock” * * * * “ is entitled to a dividend for each
calendar year of not exceeding seven per cent, payable out of the net
earnings of the company for such calendar year, after satisfying the
interest on its bonds and the contributions to its sinking fund, before
any dividend shall be paid upon the common stock, and is also entitled
to share pro rata with the common stock in any dividend exceeding
seven per cent on the whole stock of the company, preferred and
common.”
CHICAGO MILWAUKEE & ST. PAUL.
On the preferred stock certificates of this company the terms
of preference are given briefly as follows:
<<This stock is entitled to a dividend of seven per cent per annum from
thenefream mgsfor each current year.” * * * “ This certificate and
stock represented hereby is issued and received subject to all the terms,
conditions and limitations of the articles of association of this company.”
The terms and conditions of the articles of association
referred to in the certificate read as follows:
“ The said preferred stock, except said scrip stock, shall be entitled to
a dividend of seven per cent per annum, from the net earnings of each
current year, after payment of interest on all the mortgage bonds, if the
company earn so much during the current year, and before the pay­
ment of dividends to any other class of stockholders: but the company
may reserve a reasonable working capital or surplus before the divi­
dend shall be declared or paid on said preferred stock, which surplus
shall not exceed at any time the aggregate sum of $250,000. over and
above the floating or unfunded debt, and the accrued interest on the
mortgage bonds. If the net earnings of the company are not as much
as 7 per cent in any one year, then the said preferred stock shall receive
for that year a dividend of whatever the said net earnings are, after
the payment of interest on the mortgage bonds, and the reasonable
reserve for a working capital, asatbove described. Said preferred stock
snail not have any claim upon the earnings of any other year for the nonpayment of dividends of any preceding year. And whenever the company
earns sufficient, over and above the payment of interest on the bonds
and the reserve above named, to pay a greater sum than 7 per cent on
said outstanding preferred stock and 7 per cent on the common stock,
then the said preferred stock shall share pro rata with the common stock
in such earnings.”
CHICAGO & NORTHWESTERN.
On the preferred certificates of this company the terms of
Drecedence are very clearly stated.
. This preferred stock is entitled, as provided in the articles of agree­
ment and consolidation made between the Galena & Chicago Union Rail­
road Company and the Chicago & Northwestern Railroad Company, of
date June 2,1864, to preferences to the aggregate extent of l o per cent
in the dividend which may be declared in any year, out of the net earn­
ings of such year, in the manner following: First, to a preference of 7
per ce n t; and, after dividends of 7. per cent on the common stock,
then, secondly, to a further preference of 3 per cent. After a further




[Vou xxxyn.

dividend of 3 per cent on the common stock, both classes of stock shal
he entitled to equal rates per share in any further dividend.”
CHICAGO ST. LOUIS & PITTSBURG.
The preferred certificate of this company states the cumu­
lative property of this stock with much emphasis, and the line
of action to be taken by the directors is also prescribed.
“ The owner hereof is entitled to dividends each year, if earned, to the
extent of six per cent per annum, or so much thereof as may be earned,,
payable semi-annually on the first days of May and November, in prefer­
ence to the payment of any dividend on the common stock. Such divi­
dends shall be cumulative at the rate of six per cent per annum from.
May 1,1883, but without interest on delayed payments, and dependent
on profits as thé same shall be declared by the board of directors, and it is
hereby declared to be the duty of the board of directors to determine what,
dividend, if any, may be due, upon the conditions named herein, as soon as
possible after the first of January in each year. In case the net profits in
any six months applicable to the payment of dividends as herein pro­
vided do not amount to. one per cent on the amount of outstanding pre­
ferred stock, such net profits shall be carried to the credit of net profits o f
the six months following.”
CHICAGO ST. PAUL MINNEAPOLIS & OMAHA.
The terms of preference are given very briefly in the pre­
ferred certificates, and the last clause is somewhat peculiar..
“ The preferred stock shall receive a dividend of 7 per cent per annum
prior to the common stock, to be declared and paid from the net earnings
of any year, but shall not be cumulative. No greater dividend shall ever
be paid in any year to holders of common stock than is paid on this pre­
ferred stock.”
CINCINNATI WASHINGTON & BALTIMORE.
This reorganized company has the following terms in its cer­
tificates of preferred stock :
“ This preferred stock is entitled to dividends not exceeding six per
cent for each year (but such preferred dividends shall not be cumulative),
payable before any dividend on the common stock out of the net earn­
ings of the company for such year, after payment of taxes, operating ex­
penses, maintenance of railways and equipment and interest on all its
mortgage bonds and other lawful indebtedness, and is also entitled to
share pro rata with the common stock in any dividend exceeding six per
cent in any one year on the whole stock of the company.”
COLUMBIA & GREENVILLE.
The priority of the preferred stock is very briefly stated a®
follows :
“ This is to certify th a t--------------- is entitled t o ----------- shares in the.
preferred capital stock of the Columbia & Greenville Railroad Company,
created by resolution of the corporators passed the 24th day of Novem­
ber, 1880, and is entitled to receive a dividend of six per centum per
annum, non-cumulative, upon said stock before any dividend is payable
on the common stock of said company.”
DES MOINES & FORT DODGE.
The preferred stock of this company is small. In the.
amended articles of incorporation, passed March 9,1881, thepreference to which the stock is entitled is defined as follows ;
“ The preferred stock shall be entitled to dividends, from the first earn “
mgs of the road and any extension thereof, after paying interest on its
bonded debt, now or hereafter created, to an amount not exceeding 7
per cent a year, before dividends are declared on any other stock, and
after dividends are declared upon all other stock to the extent of 7 per
cent, then it shall be entitled to share equally in all further earnings.”
EAST TENNESSEE VIRGINIA & GEORGIA.
This company’s certificate is clear and concise on the point o f
the preference to be enjoyed by the preferred stock in the
matter of dividends.
“ This preferred stock is entitled to a dividend for each calendar year
not exceeding 6 per cent, payable out of the net earnings of the com­
pany for such calendar year, before any dividend shall be paid upon the
common stock, but such preference dividend shall not be cumulative,
and is also entitled to share pro rata with the common stock in any divi­
dend exceeding 6 per cent on the whole stock o f the company, preferred,
and common.”
FLINT & PERE MARQUETTE.
The terms o f reorganization give at much length the priority*
which the new preferred stock shall have, as follows :
“ The holders of said preferred stock shall be entitled to receive,' from
the earnings of said railroad company hereby organized, dividends to
the amount of 7 per cent per annum, payable semi-annually or annually,
as may be directed by the boarjl of directors, provided the net income,
after paying interest on prior bonds, repairs, expenses of equipment
and renewals, shall be sufiieient for that purpose, or such portions
thereof as the said net income shall amount to, In case there shall be
any surplus of net Income after the payment of said dividend of 7 per
cent upon the preferred stock, the same shall stand undivided until the
next dividend day, and so from time to time, and from year to year,
until such time as the holders of said preferred stock shall receive five
consecutive annual dividends of 7 per cent or semi-annual or quarterly
dividends equivalent thereto. In case on any dividend day the net;
income as aforesaid shall not be sufficient to pay 7 per cent annual divi­
dend to the holders of said preferred stock, such holders of preferred
stock shall have no right to have the dividends made up out of subse­
quent earnings; it being the intention that there shall be no accumula­
tion of claims against the company for dividends for such preferred
stock.” * * * * “ Should the net income be greater than sufficient to
pay a dividend of 7 per cent upon the whole amount of stock, both pre­
ferred and common, such surplus shall be divided ratably arnqng the
holders of the preferred and common stock.”
GREEN BAY WINONA & 8T. PAUL.
The certificate of this company reads:
“ The said, preferred stock will entitle the holders thereof to be paid
dividends thereon in each year at such rate, not exceeding 7 per cent per
annum, in preference and priority of any dividends to be made to the
holders of the common stock of said company, as the net earnings and
income of said company for that year applicable to dividend's, after all
necessary expenditures and after providing for proper maintenance of
the road and necessary improvements, shall be sufficient to pay; but this
right of dividend shall not be cumulative.”
HANNIBAL & ST. JOSEPH.
Almost the whole of this company’s stock, both preferred and
common, is now held by the Chicago Burlington & Quincy
Company, so that there is little public interest in the shares j
but the terms of preference expressed in the certificates are
given below. A claim was made as to this stock," and carried to
the United States Supreme Court but not sustained, that after
7 per cent had been paid on the preferred the latter was to-

O ctober , 1883.]
share equally with the common in any surplus beyond that
amount, and before first allowing 7 per cent on the common.
“ Preferred stock issued in adjustment of the bonds of said company
hearing daté April 1,1856, July 1,1858, and March 15,1859, and sub­
je c t to the terms and conditions of an indenture between-said corpora­
tion and Wm. H. Swift and others, trustees, dated April 1 , 18*;3, and
with the right set forth therein, may be transferred upon the books of
the company and new certificates issued, and may be used with the
bonds of the said company, bearing date April 1,1863, in the purchase
o f its lands, as provided in said indenture. The Hannibal & St. Joseph
Railroad Company hereby certifies that, in consideration of the surrender
and placing in trust of bonds and coupons in pursuance of said inden­
ture, -----is entitled t o ------shares of the preferred stock of said corpora­
tion/and to receive, all the net earnings of said company which may be
divided, pursuant to said indenture in each year, up to $7 per share, and
to share in any surplus beyond $7 per share which may be divided upon
the common stock.” '
KANSAS CITY FORT SCOTT & GULF.
The language in the certificate appears to be a. condensation
o f that given in the reorganization agreement of Feb 25, 1878,
wherein the status of the preferred stock was succinctly .stated
•as follows:
“ Preferred stock of said new corporation to the amount of $2,750,0C0,
which shall be entitled to a dividend each year, not exceeding 8 per cent,
payable semi-annually, in preference and priority to any dividend to be
made to the holders of the common stock of said company, in each and
every year when the net earnings and income of said company for that
year applicable to dividends, after all necessary expenditures and after
providing for proper maintenance of the road and necessary improve­
ments, shall be sufficient to pay the same ; and if such net earnings and
income in any year shall be insufficient to pay the full rate of eight per
■centum on such preferred stock, then the holders thereof shall be entitled
to be paid such lower rate as said net earnings and income shall be
sufficient to pay before the payment of any dividend to the common
stock, but the right to dividends shall not be cumulative.”
KEOKUK & DES MOINES.
This road is leased to the Rock Island for 25 per cent of
gross earnings, which 25 per cent must be enough in any event
to pay interest on the mortgage indebtedness. This is the
lease apparently referred to in the certificate of preferred stock,
which defines the rights of the preferred stockholders at great
length, as will appear from the extract below. Under the
lease to the Rock Island 1% per cent was paid in 1880 and
again in 1881, but nothing since then.
“ Said stock is entitled to dividends at the rate of eight per cent per
annum, payable out of the net earnings or rent in each year after pay-"
ment of the interest upon the company’s bonds, which bonds are not to
exceed $2,750,000, bearing interest at the rate of 5 per cent per annum;
but if in any one year the net earnings or rent after payment of such
interest on bonds prove insufficient to pay that rate of dividend, the
■dividend for that year shall be only such as the net earnings or rent after
payment of such interest on the bonded debt will suffice to pay ; and the
preferred stock is also entitled to share pro rata with the o.ther stock of
thé company in any excess of net earnings or income over eight per cent
per annum,”
There are further explicit provisions in the certificate against
the increase of stock or bonds, and against changes in the lease
•except by consent of preferred stockholders.
MARQUETTE HOUGHTON & ONTONAGON.
The terms o f this company’s certificates are :
“ This preferred stock is entitled, first, to a preference to the aggregate
■extent of 8 per cent in the dividends which may be declared in any year
out of the net earnings of such year ; and- after a dividend of 8 per cent
o n both the preferred and common stock in any year, then, secondly, to
■apy equal division in any further dividends of such year.”
MILWAUKEE LAKE SHORE & WESTERN.
The articles of consolidation entered into Feb. 13,1883, give
the terms of the preference accorded the preferred stock as
below. A feature of the stock in the original company before
consolidation was that no additional mortgage could be placed
upon the property without the consent of three-fourths of the
total preferred stock outstanding, but there is no mention of
this in the agreement of consolidation, and it is believed that it
was abrogated with that consolidation.
“ The said preferred stock shall be entitled to a dividend of 7 per cent
per annum from the net earnings of each current year_after payment of
interest on all mortgage, equipment and income bonds, if the company
•earns so much during the current year, and before the payment of divi­
dends to any other class of stockholders ; but the company may.reserve
a reasonable working capital or surplus before the dividends shall be
declared or paid on said preferred stock. If the net earnings of the com­
pany are not as much as 7 per cent in any one year, then the said pre-_
ferred stock shall receive fpr that year a dividend of whatever the said
■earnings are, after the payment of interest on all mortgage, equipment
and income bonds, and a reasonable reserve for a working capital afore­
mentioned; said preferred stock shall not have any claim upon the
earnings of any other year for the non-payment of dividends of any pre­
ceding year. Whenever the company earns sufficient over and above the
payment-of interest on the bonds and the reserve above mentioned, to
pay a greater sum than 7 per cent on said outstanding preferred stock,
and 7 per cent on the outstanding common stock, then the said preferred
stock shall share pro rata with the common stock in such earnings.”
MINNEAPOLIS & ST. LOUIS.
This company’s certificate reads :
#
“ This preferred stock is entitled to a preference of seven per centum
(non-cumulative) in the dividends declared in any year, before any divi­
dends are paid upon the common stock ; and after dividends shall be
'paid upon the common stock to a like amount of seven per cent for any
year, then both the classes of stock shall be entitled to equal rates per
share in any further dividends for such year.”
NEW YORK CHICAGO & ST. LOUIS.
The preference is expressed briefly as follows :
“ This preferred stock is entitled to a dividend for each calendar year of
not exceeding six per cent, payable out of the net earnings of the com­
pany for such calendar year before any dividend shall be paid upon the
common stock ; but such preferred dividend shall not be cumulative ; and
is also entitled to share pro rata with the common stock in any dividend
exceeding six per cent on the whole stock of the company preferred and
common.”
NEW YORK ONTARIO & WESTERN.
The preferred stock of this company is only 2 millions, and
was issued in payment of the receiver’s certificates on the old
New York & Oswego Midland. Two years’ dividends (12 per




#

cent) were paid on this stock in March, 1883. The certificates
make only brief mention of the priority held, as follows .
“ This stock is entitled to a dividend of 6 per cent per annum from the
net earnings of each current year, if so much is earned. This certificate
and the stock represented hereby is issued, received and held subject to
all the terms and conditions of the certificate of incorporation of this
company.”
The certificate of incorporation referred to particularizes as
follow s:
“ The holders of the receiver’s debt, becoming parties hereto, shall, for
the principal and interest thereof up to January 1, 1879, take in
exchange therefor, the ‘ preferred stock ’ of the successor company, the
whole issue of which is to be limited in amount to the sum of $2,000,000;
which preferred stock shall have a first lien on the net income of the
railroad company, after paying operating expenses, including taxes,
insurance, renewals and repairs, and the reservation of a reasonable
working capital, not exceeding in amount the sum of $50,000, to the
extent of 6 per cent _p6r annum, from the net current earnings of each
year, if so much net is earned; if 6 per cent is not earned in any one
year, then it shall have a dividend of whatever net sum is earned in that
year; but said dividend, if not earned, shall not accumulate-as a charge
upon the income of the railroad company.”
NEW YORK LAKE ERIE & WESTERN.
W e have already referred to the suit against this company
by holders of preferred stock. The thirteenth article of the
certificate of incorporation says of the stock ;
“ Entitling the holders to non-cumulative-dividends, at the rate of 6
per cent per annum, in preference to the payment of any dividend on the
common stock, but dependent on the profits of each particular year, as
declared by the board of directors.”
The preferred share certificates read as follows :
“ Said stock shall be entitled to preferred dividends out of the net earn­
ings, if earned in the current year, but not otherwise, not to exceed 6
per cent per annum, payable semi-annually, after payment of interest on
bonds of said company in full.”
NEW YORK SUSQUEHANNA & WESTERN.
There is nothing uncertain about the cumulative character of
this company’s preferred stock. Clearly and emphatically the
stock is declared to be entitled to payment in fjill for all back
dividends before anything is paid on the common stock.
“ The holder of this preferred stock shall be entitled to receive from the
net earnings of the company dividends of six per cent per annum, which,
in case of default, are cumulative, and to have such dividends with ail
arrearages, if any, paid in full before the declaration or payment of any
dividend upon the common stock, and whenever the net earnings of the
corporation applied to the payment of dividends shall be in excess of the
sum required to bay a dividend of six per cent on the preferred stock,
with all arrearages, if any, and a dividend of six per cent on the common
stock for the current year, such surplus shall be divided between the
holders of the preferred and the holders of the common stock according
to the terms and provisions of the articles of association and by-laws of
the company.”
The by-laws mentioned are, on this matter, merely a repeti­
tion of the above, except that dividends are stated to begin
accumulating from the 1st of July, 1882, and that any distribu­
tion above 6 per cent on both common and preferred stocks is
to be pro rata on the two, share by share.
NORFOLK & WESTERN.
This company has passed its dividends this year, but they a”fe
not cumulative. The preferred certificate expresses the prefer­
ence tersely, as follows:
“ This stock is entitled to receive dividends at the rate of six per cen
per annum out of the net earnings of any year only that the company
may have net earnings applicable to dividends, to be paid semi-annually,
before any dividends shall be declared on the common stock, and after
payment of six per cent upon the common stock, then to a pro rata share
of any excess of the net earnings beyond six per cent upon all the stock,
both common and preferred.”
NORTHERN PACIFIC.
The rights of the two classes of stocks are stated thus :
“ The preferred stock is entitled to dividends, non-accumulative, not
exceeding 8 per cent per annum, as the net earnings of each year may
suffice to pay, and before any dividends shall be paid on the common
stock. When, and during the time, the net earnings shall be sufficient to
pay 8 per cent dividends on both the preferred and common stock issued,
the surplus is to be divided on both alike, according to the number of
shared issued of each.”
In the plan of reorganization we find the provision relating to
exchange of stock for lands, and also a definition of the words
“ net earnings ” as used above. As to the latter, it will be seen
that. : the-^company has the right to provide additional equip­
ment out of such net earnings, which may be a very important
reservation in the present condition of the property.
“ The preferred stock shall be convertible at the par value into any
lands belonging to the company, or hereafter to belong to it, east of the
Missouri River m the State of Minnesota and in the Territory of Dakota,
until default shall occur in some of the provisions of the new first mort­
gage bonds, hereinafter provided for, and such conversion shall be an
extinguishment of such stock. The proceeds of all sales of such lands,
until such default, shall be used likewise in extinguishment of such stock.
“ The words ‘ net earnings,’ as used above, shall be construed to mean’
such surplus earnings of the said railroad as shall remain, after paying
all expenses of operating the said railroad and carrying on its business,
including all taxes and assessments and payments on incumbrances, and
including the interest and sinking fund on the first mortgage bonds, the
expenses of repairing or replacing the said railroad, its appurtenances,
equipments or other property, so that the same shall be in high condi­
tion, and of providing such additional equipment as the said company
shall deem necessary for the business of said railroad.”
The plan of reorganization also contains, in the section relat­
ing to the first mortgage bonds, this reference to the vote
required for placing any subsequent mortgage on the road.
“ No other bonds shall be issued, except on a vote of at least three
fourths of the preferred stock, at a meeting specially held in reference
thereto, on a notiee of at least thirty days by advertisement in two news­
papers published respectively in the cities of New York, Philadelphia and
Boston.”
OHIO & MISSISSIPPI.
The price of this company’s shares and the preference given
n the certificates clearly show that the preferred stock is conidered strictly cumulative. Nevertheless, there are those who
8 spute this claim. These Jatter seek to construe the late
di

4

INVESTOES' SUPPLEMENT.

decision of Judge Blatchford, U. S. Supreme Court, as nega­
tiving such claim, but t ie cumulative character of the stock
was not at all in question in that suit, the sole point beiog
whether the clause saying that the preferred stock was to be
a first lien, after the company’s indebtedness, meant the origi­
nal indebtedness alone or also the mortgage xbonds subse­
quently issued. The Court decided that the phrase must be
taken as including the whole indebtedness outstanding, present
or future. The preferred certificates read :
“ The preferred stock is to be and remain a first claim upon the prop­
erty of the corporation, after its indebtedness, and the holder thereof
shall be enti led to receive from the net earnings of the company 7 per
cent per annum, payable semi-annually, and to have such interest paid
in full for each and every year before any payment of dividend upon
the common stock ; and whenever the net earnings of the corporation,
which shall be applied in payment of interest on the preferred stock
and of dividends on the common stock, shall be more than sufficient to
pay both said interest of 7 per cent on the preferred stock in full, and 7
per cent dividend upon the common stock for the year in which said net
earnings are so applied, then the excess of such net earnings, after such
payments, shall be divided upon the preferred and common shares
equally, share by share.”
“
,
ST. LOUIS ALTON & TEEEE HAUTE.
This company’s preferred stock is cumulative, and though
the payment of dividends was omitted for a number of years,
a settlement was made in 1881 by the declaration of a 55 per
cent bond dividend in full for all back claims.
“ This stock is entitled to dividends at the rate of 7 per cent per
annum, payable annually on the first day of May in each year, out of net
earnings of the company, for each year ending on the 31st day of Decem­
ber previous to such first day of May, after satisfying the interest on its
bonds and the contributions to its sinking fu n d; and in case said divi­
dends cannot be regularly earned and paid, as above stipulated, all
arrears are to be paid as soon and as fast as the net income of the com­
pany will allow; and no dividend is to be made on the general stock of
the company until all such arrears have been paid. This stock is con­
vertible at any time by the holders into the general stock of the com­
pany at par; but shall not be entitled to a dividend for any time on
which the holder thereof has received a dividend as preferred stock.
The priorities.and guarantees of this stock are secured by the deed of
trust known as the second mortgage, and by the conveyance of Robert
Bayard, Samuel J. Tilden, John G. Richardson, Joseph Tuckerman and
Russell Sage to the said company.”
ST. LOUIS & SAN FEANCISCO.
The preference of each stock is given with much detail in the
certificates, and the 1st preferred appears to contain a very
important provision, giving it a priority over mortgage bunds
subsequently issued. The first preferred stock reads as follows :




[V cl. XYXYII.

“ This is first preferred stock and is entitled to a dividend up to 7 per
cent per annum, derived-by the company from net revenues from all
sources each current year (remaining after the payment of interest upon
all liabilities), in preference to any dividends upon any other class of
s' oCk issued by the company, and is entitled to share pro rata equally
wii h any other class of stock in any excess of annual dividends that
may be made by the company upon any class of stock greater than 7
Per cent, and by resolution of the. company has' priority of lien on net
revenues for such dividend over any mortgage bond that may be issued
by the company subsequent to the creation of this stock.”
The preferred stock reads as follows :
This is preferred stock and is. entitled to a dividend up to 7 per cent
per annum derived by the company from net revenues from all sourcescurrent yearn remaining after the payment of interest upon all lia­
bilities and dividends on the first preferred stock), in preference to any
dividends upon any other class of stock issued by the company, and is
entitled to share pro rata equally with any other class of stock in any
excess of annual dividends that may be made by the company upon any1
class of stock greater than 7 per cent.”
ST. PAUL & DULUTH.
Aft important point in regard to this preferred stock is in the
fact that the income from all sources is made applicable to the
dividends, including income from stumpage and sale of lands,
if earnings alone are insufficient. It will also be seen that the
preferred stock is limited to 7 per cent, and that any excess o f
net earnings remaining above that rate on the preferred and 6
per cent on the common, has to be devoted to the purchase of
the preferred stock.
The preferred stock ” * v * “ to receive dividends, payable semi­
annually, on the first days of July and January of each year, equal to the
net income of the company from all sources; but said dividends not to
exceed seven per cent per annum.” * * * “ The holders of the new
common stock to be entitled to dividends out of the balance of the net
earnings of the railroad, but not exceeding six per cent in any one year
after the payment of seven per cent on the outstanding preferred stock;
any surplus of the net earnings to be used in purchase of preferred stock.
Each share of preferred stock, and every three shares of "common stock,
to be entitled to one.vote at all meetings of the company.”
WABASH ST. LOUIS & PACIFIC.
The Wabash states its terms of preference concisely and
clearly, as below.
“ This preferred stock is entitled to a dividend for each calendar year
of not exceeding 7 per cent, payable out of the net earnings of the com­
pany for such calendar year, before any dividend shall be paid upon the,
common stock (but such preference dividend shall not be cumulative),
and is also entitled to share pro rata with the common stock in any divi­
dend exceeding 7 per cent on the whole stock of the company, preferred
and common.”

N O T E S .
These tables are expressly intended to toe used in connection with the information concerning Investment matters, published from weeh to
week in the Ch r o n ic l e —to which an index is furnished in the remarks at the foot of the tables. Annual reports are in black-faced figures.
A description of U. S. Government Securities is published in the C h r o n ic l e each month, as soon as the official “ Debt Statement” is issued.
Prices o f all active Stocks and Bonds are. quoted w eekly in the Chronicle , and a list o f general quotations is published m onthly.

The following will give explanations of each column of the tables below : Description.—Railroads leased to others will sometimes be found under the lessee’s name. The following abbreviations frequently occur, viz »
M. for “ mortgage.” s. f . for “ sinking fund,”, 1. gr. for “ land grant,” reg. for “ registered,” coup, for “ coupon,” Br. for “ Branch,” guar, fur
“ guaranteed,” end.for “ endorsed.” “ Coupon*” indicates that the bonds are coupon, but may be registered.
Date o f Bonds—The date of issue is referred to in this column.
Miles o f Road.—Opposite Stocks, this means the miles of road operated, on which the earnings are based; opposite bonds, the miles covered
by the mortgage.
■Sise or Par Valuei—'These figures are dollars, showing the denominations or par value.. The figures “ 100, &c.,” signify $100 and larger.
Rate Per Cent.—The interest per annum is given for bonds, but the per cent of last dividend for stocks; g means gold.; x, extra; s, stock or scrip.
When Payable—J. & J. stands for Jan. & July; F. & A., Feb. & Aug.; M. & 8., March & Sept.; A. & O., April & Oct.; M. & N., May & Nov.; J. & D.,
June & Dec.; Q.—J., quarterly from January; Q,.—F., quarterlyfrom Feb.; Q.—M., quarterly from March.
Bonds, principal when due; Stocks, last dividend.—The date in this column shows the period when the principal falls due of bonds, but the time
when the last dividend was paid on stocks. ____________ _____ ____________ ____________ __

STATE SECURITIES.
Subscribers w ill confer a great favor by g iv in g Im m ediate notice o f a n y error discovered In these Tables.
DESCRIPTION.
For explanations see notes above.

Date of
Bonds.

Alabama—Substitution bonds (A) ($7,000,000).
1876
Substitut’n b’ds for RR. (B) ($596,000)............
1876
do
for Ala. & Chatt. (C) ($1,000,000)
1876
Funding “ obligat’ns” (tax-rec’ble 10-20 yrs.).
1880
Arkansas—Funding bonds of 1869 and 1870.. 1869 t o ’70
Funding Bonds 1870 (Holford)................ ........
1870
1871
Levee bonds (or warrants). ___.’. .................
Old unfunded debt, including interest........... .. 1838 t o ’39
Sinking fund bds. (Loughborough) Act.Dec., ’74
1875
To Memphis & Little Rock Railroad................
1869
To Little Rock & Fort Smith Railroad............
1870
To Little Rock, Pine Bluffs & N. Orleans R R ..
1870
To Miss., Ouachita & Red River Railroad___
1870
To Arkansas Central Railroad..........................
1870
California—State Capitol bonds..... .................. 1870 & ’72
1873
Funded debt bonds of 1873..............................
1864
Connecticut—War bonds, 20 year___Y rAnnm
War bonds, not taxable, 20 year.. I
1865
Bonds, 10-20 y e a r.,......... .............. f
1877
New bonds (sink. fd.), . ........ ..........j
Q' ■ 1883
Delaware.—Refund’g bds., ser. “ A,” “ B” & “ C’ ' 1881
School bonds . „ ..................................................
Dist. o f Columbia—Perm’t imp’t, gold, coup___
Ì872
Permanent improvement bonds, coupon........
1873
Bds for fund’g (Act June 10,’79) coup, or reg.
1879
Fund, b’ds (U.S.guar.,Acts June,’74&Feb.,’75)
1874
Market stock, coupon........ ................................
1872
Water stock bonds, coupon........ .................
1871 to ’73
1872
Wash, fund’g, gld,($654,000 are M.&N.,1902).
1871
Florida—State bonds.........................................
1873
Gold bonds............. .................... .— , ___ .•___
Georgia—Atlantic & Gulf Railroad bonds
...
1866
Bondsj act of Mar. 12, ’66 (renewal W. & A.)..
186J3
1870
Quarterly gold bonds, act of Sept. 15,1870..
1872
Bonds, act of Jan. 18, ’7 2 .................................
1873
Bonds for funding (Act Feb. 49, ’73)...............
Bonds to fund coupons on endorsed bonds...
1876
Bonds exchanged for endorsed RR. bonds—
1877
1879
Indiana—Bonds, coup, (pay’ble after Apr. 1,’84)
School fund bonds (non-negotiable)................. 1867 to ’73
Kansas—Bonds, 1861 to ’69, funding, &c.......... 1861 to ’69
Bonds for various State purposes............. — 1861 to ’75
Military loan.................. ..................................... 1864 t o ’69

Size or . Amount
par
Outstanding
Value.

$100&c.
100 &e.
100 &c.
i,óòo
1,000
100 &c.
1,000
1,000
1,000
1,000
1,000
1,000
1,000
5ÓÒ &c.
1,000
100 &c.
1,000
1,000
1,000
500 &c.
100 &c.
100 &c.
50 &c.
50 &c.
1,000
10Ó &c.
100
100 &c.
500
500 &c.
1,000
1,000
250&C.
1,000
1,000
100&C.
100 &c.

$6,711,300
539,000
944,000
960,000
1,850,000
1,268,000
1,986,773
1,985,955
380,000
1,200,000
1,000,000
1,200,000
600,000
1,350,000
500,000
2,698,000
1,318,500
1,741,100
1,031,000
100,000
625,000
156,750
3,791,000
663,600
954,500
13,991,900
150,000
376,000
1,739,000
350,000
925,000
300,000
3,600,000
2,098,000
307,500
300,000
542,000
2,298,000
585,000
3,904,783
101,475
745,000
346,000

Alabama.—The State gave 30-year bonds, dated July 1,1876, bearing
2 percent till 1881, then 3 per cent till 1886, 4 per cent till 1896, and 5
per cent for last 10 years, for old bonds, without any allowance for pastdue coupons. Alabama & Chattanooga endorsed bonds were exchanged
for $1,000,000 of the new bonds, Class C, which bear 2 per cent till 1881,
and 4 per Cent for renfaining -25 years. For railroad endorsements the
bonds issued bear 5 per cent. In 1880 the new 6 per cent bonds were
issued to retire old 8 per cent “ Statò obligations.” Analysis of the
•debt and funding Operations was given in the Ch ronicle , V. 24, p. 28.
For the $2,000,000 of State 8 per cent bonds issued to the Ala. & Chatt.
RR. under act of Feb. 11, 1870, the State gives thelien on the lands
ranted to that railroad, 500,000 to 1,200,000 acres. Tax rate in 18812, 6*2 mills The assessed valuation of real estate and personalty was
-$123,757,072 in 1879, $139,077,328 in 1880, and $152,920,li5 in 1881.
Arkaiisas.— The State Supreme Court decided Levee bonds of 1869 and
1870 invalid. The State is in default for interest, except on the secured
sinking fund bonds (Loughborough) issued under the law of December,
1874. In Jan., 1883, a decision was made by the U. S. Circuit Couit,
•substantially holding the railroad companies responsible for the State
bonds issued to them, but this was reversed in October and the case
.appealed to U. S. Supreme Court. See the references below. The fol­
lowing are the latest official assessments
T»nnl Estate..:
T)/v«nn'nr.l rilftxr
>nl-A
Real
Personal.
Tax T
Rate
$58,445.111
7 L2
1881.................... .................. $41,843.803
1 8 8 2 ..................................... 60,155,303
37.610.228
i
7*2
T883 (estimated).................. 78,000,000 ?
47,000,000
7
—(V. 36, p. 29, 139, 706, 730.)
. California—The State holds In trust for School and University funds
-$486,000 Capitol bonds and also bonds of 1873, in all $2,690,000.
Assessed valuations and rate of tax per $1,000 have been:
Years.
Real Estate.
Personal. Tax Rate.
1 8 7 9 ..
......
$466,273,585
$118,304,451
$5’50
1880
....
460,694,217
149,656,007
6-40
1 8 8 1 ..
. . . . .................... 464,082,851
146,180,978
6-55
1 8 8 2 ..
. . . . ....
446,319,940
120,848,453
5-96
Connecticut.—The debt of Connecticut was all created originally for
war purposes. Assessed valuation and tax rate per $1,000 have been:
Years.
Real'Estate.
Personalty. Tax Rate.
1 8 7 9 ............................1... $228,987,700
$95,901,323
1-50
1 8 8 0 . ............... %
----------------------- $327,182,435--------------*
1881
......... ...............
$332,170,856
1-50
1 8 8 2 ..
:. . . . . . . . . . ....
342,242,566
'
1*50
The assessed valuation of real estate is about 70 per cent of thé true value.
—(V. 35. p. 131 ; % 37, p. 127.)
Delaware.—These refunding bonds issued July, 1881, take up out­
standing debt. Series “ A ” are $160,000, redeemable 1886; series “ B,”
$300,000, redeemable July, 1886 to 1891 ; series “ C,” $165,000, redeem-




Rate.

3 &c.
5
4 &c.
6
6
6
7
6
6
7
7
7
7
7
7 g.
6 g.
6
6
5
3^
4
6
6 g.
7
5
3-65
7
7
6 g.
7
6 g.
6
7
7 g.
7
8
7
6
5
6
6
7
7

INTEREST.
W*hen
Where Payable and by
Payable
Whom.

J.
J.
J.
J.
J.

&
&
&
&
&

J. N. Y., Importers’ -& Tr. Bk.
J.
do
do
J.
do
do
J.
Montgomery.
J.
N. Y., Union Trust Co.

J. & J.
do
do
J. & J.
J. & J. New York, Nat. City Bank.
A & O.
N. Y., Union Trust Co.
A. & O,
do
do
do
do
A- & O.
A. & O.
do
do
A. & 0.
do
do
J. & J.
Sacramento, Treasury.
J. & J.
do
do
J. & J.
Hartford, Treasury.
A. & O.
do
do
M. & N.
do
do
J. & J.
do
' „ do
J. & J. Phila., Phila. Nat. Bank.
J. & J.
J. & J.
J. & J.
F. & A.
J. & J.
J. & J.
J. & J.
Jarf.
J. & J.
F. & A.
J. & J.
Q.—J.
J. & J.
A & O.
J. & J.
J. & J.
A. & O.
Various
July.
J. & J.
J. & J.

Wash, or N. Y., U. S. Treas.
do
do
do
do
do
do
do
do
do
do
do
do
N.Y., Donnell, Lawson& Co.
do
do
N. Y., Fourth National Bk.
N. Y., National Park Bank.
do
do
do
do •
do
do
,
do
do
do
do
N. Y., Winslow, L. & Co.
do
do
N. Y., Am. Exch. Nat. Bk.
do
do
do
do

ibrincipal—When
Due.

July 1,1906
July 1.1906
July 1.1906
Jan. 1, 1900
1899
1900
1900
1860
1905
1899
1900
1900
1900
April, 1900
July, 1885 & ’87
1893-94
Jan. 1, 1884
Oct. 1, 1885
May 1, 1897
1903
1886,1891,1901
Jari. 1, Ï901
July 1, 1891
July 1, 1891
July 1, 1899
Aug. 1, 1924
July 26,1892
Oct. 1,1901 to ’03
1892 & 1902
Jan. 1, 1901
Jan. 1, 1903
Feb. 1,188b
May, 1886
Oct., 1890
July, 1892
April Ì, 1886
July 1, 1896
Jan. 4 , 1889
April 1, 1889
1883 to ’84
* 1884 t o ’99
1884 to ’99

able July, 1891 to 1901. There is no State tax levied, nor assessments
made by State officers. (V. 32, p. 500.)
District o f Columbia.—The total assessed value of taxable real estate
and personal property is shown below. The interest and sinking fund
on the 3-65 bonus are provided for by Congress, and the amount is
limited to $15,000,000. Real and personal estate, &c., has been
assessed as follows:
Reai Estate.
Personal.
Tax Rate.
$87,491,442
$13,363,920
$15
1879.................
1 8 8 0 ................................... 87,980,356
11,421,431
15
1881
.............................. 88,953,078
10,895,712
15
1882 ........................•............ PO,308,495
9,666,272
15
1883
.................. ..1 ...». 92,533,665
9,028,812
15
—(V. 32, p. 69; V, 36, p. 29.) " Florida.—Less the sinking fund of $177,050, the total debt is $1,098,450, which does not include $132,000 bonds of 1857, held by Indian
Trust Fund. About $507,200 of the bonds are held in school funds, <fee
Coupons of all bonds are receivable for taxes. Real and personal prop­
erty assessed in 1881, $36,691,823; in 1882, $45,285,977. (V. 32, p.
100 .)

Georgia.—The constitutional amendment in 1877 declared void several
issues of bonds and railroad endorsements. There were issued $400,000
4 per cent bonds in 1880, but all except $75,000 taken up and can­
celed. Assessed value and tax rate per $1,000 have been:
Years.
Real Estate.
Personalty. Tax Rate.
$91,585,832
$5‘00
1878.............. ....................... $134,635,886
1879.......... .......... ................. 134,244,081
90,849,338
3-50
1 8 8 0 ...:.................; ......... 139,657,250
99,276,876
3-50
1881................................148,057,233
106,195,395
3
—(Y. 34, p. 88.)
Indiana.—Indiana made a compromise with her bondholders in 1846,
giving them State stockfor one-half of their bonds and overdue coupons,
and Waba.sh & Erie Canal stock for the balance, about $7,500,000. There
are also outstanding $340,000 5 per cent bonds, due 1901. held by Pur?
due University, and about $47,000 miscellaneous issues of bonds.
Valuation made in 1881 of taxable property: Real estate, $543,427,442;
personalty, $261,775,350.
Kansas.—Kansas has but a small State debt, but the issue of municipal
bonds was about $14,500,000. The valuations (about one-half of (¿rue
value) have been :
* Real
Personal
Rate of Tax
Total
Years..
Estate.
Property.
p e r$1,000.
Debt.
1879........ .......... $101,229,734
$43,700,545
$5 50
$1,181,975
1 8 8 0 ............ ^..108,101,123
52,469,638
5 50
1,181,975
1881
.................. .................. .................. •---------------170,813,373------------->
1882 ....................
170,974,017
5 00
1,181,975
—State funds koid $716,950 of the loads,

5 5

G

STATE SECURITIES,

[V öl . X X X V II,

Subscribers w ill confer a great favor by g iv in g im m ediate notice o f any error discovered in these Tables.
DESCRIPTION.
For explanation see notes on first page of tables.

Louisiana—Bonds for relief of State Treasury .

do to Boeuf & Crocodile Navigation Co...
do to Mississippi <fe Mexican Gulf Canal..
do school, held by St. Treasurer...............
do to N. Orleans, Mobile <fe Chatt. RR.......
do to N. Orleans, Mobile & Texas R R ........
N. O. Mob. & Texas RR. bonds, end. by State
Consolidated funded bonds............-„...............
Twos, fours and threes (see notes below)........
Marne—Bounty loan bonds.......?......... ) Coup.
Municipal war debt assumed............i or reg.
Four per cent bonds, coupon............................
Maryland—Baltimore <fc Ohio Railroad, sterling
Chesapeake & Ohio Canal, sterling..................
Railroads and canals........................ ................
Eastern Shore Railroad-............. *....................
- Baltimore <fc Susquehanna R a ilr o a d ...........
Annapolis & Elkridge Railroad.......................
Defense Bounty Loan. . . : ........... .....................
Certificates of indebtedness for $3,000,000...
Deaf and Dumb Asylum Loan.... ........ .: .........
Maryland Hospital Loan, 10-15 years.............
Maryland State Loan..........................................
Treasury relief loan, 10-15 years.....................
Massachusetts—Coast Defense noan....................
Bounty Fund Loan.............................................
Bounty Fund Loan................ . . . ................. ...
do
do sterling.......... g...................
War Loan, sterling..............................................
Troy <fe Greenfield Railroad loan, sterling.......
ido
do
home ........
do
do
sterling.......
do
do
sterling.......
do
do
dollar bondt
do
do
do
do
do
do
Boston, Hartford & Erie Railroad, sterling...
Harbor Land Improvement (5-20s)........ -........
Danvers Lunatic Hospital......... : ....................
New State Prisons, sterling.......... .......... ........
Miehiaanr-Vfw; Bounty Bonds.......................—
Minnesota—Adjustment bonds, (10-30, red., ’92
Revenue loan (redemption optional)..............
Missouri—State bonds, proper................... . : . . . .
Consolidated bonds.............................................
University and Lunatic Asylum bonds............
State Bank stock refunding........... ..................
Bonds to North Missouri Railroad....................
Bonds to Cairo & Fulton Railroad............. .
Bonds to Platte County ^Railroad.................
Bonds to Iron Mountain Railroad....................
Pacific Railroad of Missouri.............................
Funding bonds............. .......................................
Hannibal <& St. Joseph Railroad.......................
do
do
renewal___,.
¡Hebi'aslca—Bonds (act Feb. 14,1877) coupon...
New Hampshire—Vfox loan, coupon bonds........
Municipal war loan.............................................
Loan of 1879 for refunding..............................
- Prison loan.......*......... ........................................
New Jersey—War loan bonds, tax free................
War loan bonds, tax free........................ ...........
do
do
taxable........ ......... ......... .......

Date of
Bonds.

1853
1866
1867
1870
1866
1870
1869
1857
1870
1871
1869
1874
1880
1864
1868
1880
1838
1838
1838-47
1839
1837
1870
1839
1839
1868
1882
1870 & ’74
1872 & ’76
1872
1878
1863
1863
1864
1864
1869
L858 t o ’61
L861to’63
1871
1875
L873 to ’74
1875
1877
1860
1868 t o ’69
1874 <fe’76
1874 & ’77
1875-’76
.1875
1865
1882
1883 ,
1865 to ’66
1868
1872
1874
1834 t o ’58
1857 to ’59
1859 to ’60
1854 t o ’59
1853 to ’59
1874
1857 t o ’75
1874
1877
1864
1872
1879
1879
1861
1863
1864

Amount
Size or
outstanding.
par
Value.

$500
1,000
1,000
1,000
500
100 &e.
1,000
1,000
1,000
1,000
1,000
1,000
100 &c.
sob* m
100 &e.
1,000

LOO <&o:
...
....
1,000
1,000
500 &c.
»100 &(
»200
£200 &(
500 &c
200 «fee.
£500
1,000
1,000
10,000
5,000
£200
1,000
1,000
1,000
£500
1,000
1,000
1,000
1,000
1,000
1,000
1,000
1,000
1,000
1,000
1,000
1,000
1,000
1,000
1,000
1.000
1,000
100 &c.
1,000
50Ó &c.
100 «fee;
100 &c.
100 &c.

) Amount (
r of these
I yet fund- J
1able was |
|$333,300
J Apr., ’82 [
80,000
260,000
48,00070,000
2,500,000
875,000
11,881,700
1,725,665
2,330,000
2,826,900
207,000
1,788,883
2,267,778
309,485
31,069
269,000
528,355
298,435
62,605
2,326,750
1,000,000
225,000
465,000
1,196,664
500,000
888,000
200,000
. 4,379,500
4,022,649
1,005,419
5,537,104
1,366,500
3,618,242
1,506,182
300,000
1,300,000
370,000
200,000
3,618,729
300,000
1,500,000
1,100,000
1,299,355
297,000
4,260,0001
246,000
163,000
2,670,000
384,000
89,000
1,643,000
261,000
503,000
1,331,000
2,859,000
988,000
1,500,000
1,499,000
449,267
600,000
2,206,100
400,000
100,000
100,000
902,900
593,400

Louisiana.—The Constitutional amendment passed December, 1879,
provided tor a new bond m place of consols of 1874. bearing 2 per cent
for 5 years, 3 per cent for 15 years and 4 per cent afterwards, on which
basis the interest charge per year for consols is $235,542. To April,
1882, the 2 ner cents issued were $237,300, 4 per cents, $186,150; and
3 per cents "(baby bonds), $1,307,105. In June, 1882, a constitutional
amendment passed the Legislature (and will be submitted to a vote in
Nov., 1884) giving new bonds at 2 per cent for five years from Jan., 1880,
and 4 per cent thereafter. See V. 35, p. 50. The interest tax alone was oife
mills before the constitutional amendment limiting the whole tax to 6
mills. There is considerable overdue interest of the years 1874 to 1880
inclusive. A suit by the State of New Hampshire against Louisiana as
assignee of her bonds, was decided in favor of Louisiana by the IJ. S.
Supreme Court. Taxable valuation for 1881 about $176,000,000. (V.
35, p. 50, 71, 336, 456, 486; Y.|36, 169, 285., 365; V. 37, p. 127.)
Maine.—The debt Janu ary!, 1883, was $5,749,900. The sinking
fund $1,571,185. Tax rate for 1880, 5 mills on valuation of 1870;
1881-82, 4*2 mills; 1883-84, 4 mills on State valuation.
Maryland.—The State has largely assisted canals and railroads, and
bolds $3,862,615 of stocks and bonds ranked as productive; the State
also holds $26,515,045 in unproductive securities, w h ich . includes
$16,760,978 Chesapeake & Ohio Canal interest. The State will ex-,
change the ‘ ‘Defense Loan” at par for new certificates of indebtedness,
to bear interest at 6 per cent until January, 1884, and 3'65 per cent
-afterward, redeemable in 15 years. Assessed valuation, &c., have been :
Real & Personal. Tax per $100.
Years.
$464,425,790
18 %e.
1878 . . . . . . .............. .
466,637,502
18 %c.
1879 .......................
459,187,408 .
18 %c.
1880 ....................
461,459,939
18%c.
1 8 8 1 ............................
464,824,879
1884c.
1882 ............................
—(V. 35, p. 373, 756.)
Massachusetts.—The funded debt, January 1, 1883, was $32,511,680.
The sinking funds were $16,944,263. The Hoosac tunnel and connections
cost the State heavily. Assessed valuation, tax rate, &c., have been :
Real
Personal Tax per
Total
Sinking
Yegrs,.
Estate.
Property. $1,000.
Debt.
Funds.
1878 . . . . $1,118!557,164 $761,26*6,574 $12 54 $33,219,464 $13,448,194
1879 . . . .
1090,749,235 742.533,998 12 78 33,020,464 12,235,248
1 8 8 0 .. .. 1,111,160,072 816,695,358 15 35 32,799,464 13,050,092
1 8 8 1 .. .. 1,149,965,827 883,886,538 14 28 32,399,464 14,080,465
1 8 8 2 .. .. 1,189,524,370 812,858,614 15 28 32,511,680 16,944,263
The loan to Boston Hartford <& Erie Railroad was secured by
“ Berdell” mortgage bonds, afterwards exchanged for |N. Y» <feN. E. RR.
second mortgage bonds..




Rate.

6
6
8
6
8
6
8
7-30
6
8
8
8
7
2, 4, 3
6
6
4
5 g.
5 g.
5
5
3
6
6
6
6
3-65
6
6
6
6
5 g.
5 g.
5 g.
5 g5 g5 g.
5 g5 g5 g.
5 g.
5 g.
5 g.
5 g.
5 g.
5 g.
5 g5 g7
413
4^2
6
6
6
6
6
6
6
6
6
6
6
6
8
6
6
5
5
6
6
6

INTEREST.
When
Where payable and by
whom.
Payable

J. & J.
$15,000
Various
119,000
Various
M. & N.
M. & S.
Amounts not
J. <fe J.
fundable,
J. <fe J.
80,000 per report of
M. & S.
260,000 Jan. 1,1878.
Various
48,000
J. & J.
70,000
A. & O. 2,500,000
....
875,000
J. & J.
N. Y., Bank of N. Y.
J. <& J.
New Orleans.
J. & D.
Boston, Suffolk Bank.,
A. «fe Ü.
Augusta and Boston.
F. & A.
Boston, Suffolk Bank.
J. & J.
London, Baring Bros.
J. & J.
do.
do
Balt.,
Farm. & Merck. Bk.
Q .-J .
4. & O.
.do
do
Quart’y
do
do
I. <fc J.
do
do
do
do
Q .-J .
A. & O.
do
do
). & J.
do
do
J. & J.
do
do
I. & J.
do
do
J. & J.
do
' do
....
do
do
1. & J.
do
. do
J. & J.
Boston, Treasury*
r. & j .
do
do
M. & N.
do
do
M. & N.
London, Baring Bros.
J. & J.
do
do
4. & O.
do
do
4. & O.
Boston Treasury.
r. & j .
London, Baring Bros.
j. & j .
do
do
i. & j .
Boston, Treasury
r. & j .
do
do
M. & S.
do
do
ñn
A. & O.
T. & J.
London, Baring Bros.
J. & J.
Boston, Treasury.
Boston Treasury.
Various •
do
do
Various
London, McCalmonts.
J. <fe J.
M.«fc N. N. Y., Am. Exchange Bank.
J. & J. N. Y. City, Met. Nat. Bank.
J. «fe J. St* Paul, State Treasury.
J. <fc J. N. Y., Bank of Commerce.
J. «fe J.
do
do
J. «fe J.
do
do
J. <fc J.
do
do
do
do
J. «fe J.
do
do
J. «fe J.
do
do
J. «fe J.
do
do
I. «fe J.
do
do
J. «fe J.
do
do
J. «fe J.
•do
do
J. «fe J.
do
do
J. «fe J.
State Treasury.
4. <fe 0.
Concord or Boston.
M. «fe S.
do
do
J. «fe J.
J. «fe J. Bost. ,Nat .Bk. Commonw’ltn
do
do
J. «fe J.
Jersey City.
J. <& J.
do
J. «fe J.
do
J. «fe J.

Principal—When
due.

July, 1893
1872 to 1906
1886
May 1, 1907
March 1,1875
1886 <fe ’88
Jan. 1, 1890
1899
1897
duly 1,1910 <
Aprii, 1911.. . ~
Jan., 1914
1886 <fc1914June 1,1889
Oct. 1,1889
$50,000 per yeaar
1889
188918901890
1890
1885189018901883
1897
1885 <fe ’ 89
1887 <fe 1891'
1887
1888 to 1893
July 1, 1883
July 1, 3883
May 1, 1894
May 1, 1894
July 1, 1889
Api., 1888 to ’90
Aprii, 1891 to ’94E
July, 1891 '
Jan. 1, 1895
1894
July 1, 1895
Sept. 1, 1897
Jan. 1,1900
Sept. 1,1896
J’y l,’94-Sepl,’9'3r
M’y l ’95-Sep 1,’9&Jan. 1, 1895
May 1.18901912
Optional.
1883
1888
July, 1892
Aprii 1,18941883 to ’88
1883t o ’89
1889 to ’90
1883 to ’89
1886 to ’89
July, 1894 <&
1887 to ’95
1894-0-6
Aprii 1,1897
Sept., 1884 <fe ’ 89
Jan., ’92 to 19Ò5J u ly l, ’ 89-’90-’91>'
July, 1883 to ’91
Jan., 1884
Jan., 1886 to ’90Jan., ’97 to 1902

Michigan.—The debt is practically extinguished, as the sinking fun*:
has sufficient assets to meet the debt. Equalized valuation of real a n *
personal property, 1882, about $810,000,000, and tax rate for State pur­
poses 126100 mills on the $ l f in 1883, tax rate, 18210C, mills.
Minnesota.—All the old State bonds are held by the permanent schoolfund. Minnesota refused to recognize the “ State Railroad Bonds” of
1858, to the amount of $2,275,000. A proposed compromise with theholders was provided for in 1881, and was carried out by the issue of:
the 4*2 per cent bonds. Taxable valuations and State tax have been:
Years.
Real Estate.
Personal.
Tax Rate
..$183,615,738
$46,175,304
2*3
18 7 8.. . . ..............
1879 ............
189,246,698
53,525,017
1-5% .
1880 ....
203,473,637
54,581,906
1-6%
1881 ....................
208,949,184
74,329,190
___
1882.. . . .............................. 244,033,847
67,159,588
1-85Tax for all purposes in counties averages 173io mills. (V. 33, p. 7 4 ,125»
282,294,304,329,404,433,469,502,588,687,744; V. 34, p. 32,86,316.)
Missouri.—The tax rate is 40c. per $100 Bonds maturing aré met by
sinking fund. The Hannibal & St. Joseph RR. paid the State $3,000,000
for its debt, but the State refused on Jan. 1,1882, to pay the coupons on
its own $3,000,000 of bonds. Litigation between the State and com­
pany ensued. The following is a statement of the assessed property in .
this State for the years 1881 and 1882:
1881.
1882.
Real estate............. / . ...................... ....... , $406,104,426
$442,826,742 '
Personal property............................. — . 163,265,459
170,813,970
Railroad, bridge and telegraph property
32,353,097
35,626,524
Total .............................
...A . $601,722,882
$649,867,242.
—(V. 33, p. 687; V. 35, p. 236, 763; Y. 36, p. 312 ; Y. 37, p. 99.)
Nebraska.—The State school fund holds $326,267. There are also $50,
00010 percent “ Grasshopper” bonds due 1885, interest paid January
and July. Assessed valuation (33 ^ per cent of trué value) and tax rate
per $1,000 have been :
Personal,
Years.
Real Estate.
Railroad, «fee.
Tax Rate1878
.......... 39,263,823
35,125,713
6 37*»
1879 ..... ’ ..................... 38.378,409
36,981,389
6 37^
1880 ..........
..................... 53,850,147
36,649,471
4 00
1881 "
..................... >----------- -93,142,456------------ 1882” " ” I......
.............
'
98,537,475
New Hampshire—The debt of New Hampshire was created for war
purposes. The Municipal loan of 1872 was issued to cities and towns,
the proceeds to be applied to their war debts. Total valuation in 1882
$215,000.000. (Y. 36, p. 285.)
New Jersey.—The debt was created for war purposes. Of the first
class of bonds the principal is payable $100,000 per year. Valuation
of real and personal property (taxable) m 1881. $527,451,222, against -

October , 1883.]

STATE SEC UKITTES,

r

Subscribers w ill confer a great favor by giv in g im m ediate,n otice o f any error discovered in these Tables.
DESCRIPTION.
For explanations see notes on first page of tables

Date of
Bonds.

Size or
Value.

Amount
outstanding.

Rate.

INTEREST.
When
Where Payable and by
Payable
Whom.

Principal—When
Due.

1875
$100&c.
$473,000
New York—
|
f
6 g. J. & J. N. Y., Manhattan Co. Bank.
Oct., 1893
1872
100 &c.
1,562,900
Canal debt, I Under Art, 7, See. 3, of Con-!
do
do
6 g- J. & J.
July, 1887
1873
100 &c.
4,302,600
reg. stock. 1 stitution, and Art. 7, Sec. 12.)
do
do
6 g- J. & J.
July 1,1891
1874
100 &e.
2,000,000
do
do
6 g. A. & O.
l
l
Oct. 1,1892
1879
50 &c.
2,600,641
J. & J. N. Y., Nat. Bk. of Republic.
North Carolina—Funding bonds tax-receivable.
4
1909
500 &c.
3,806,300
Various
6
do
do
Old bonds not funded....................................
1868 to ’98
1,000
Various
1,075,000
Bonds to North Carolina Railroad...................
6
do
do
1883 to ’85
ÌS82
1,C00
A & O.
Bonds for N. C. RR. issue (tax receiv’ble cps.)
1,720,000
do
do
6
1912
1,000
RR. bonds, not fundable (Chatham and W.&T.)
1,180,000
do
do
6
1868 t o ’98
1,000
A. & O.
Penitentiary bonds, act Aug. 24, 1868---- . . . .
1868
44,000
New York.
6
Oct., 1898
1,000 11,366,000
A. & O.
do
Special tax bonds ...................... .......................
6
1898 t o ’99
100 &c.
Ohio—Registered loan of 1881.......................'---1881
2,175,000
J. & J. N. Y., American Exch. B’k. At will, 1883-’8&4
Registered loan, nayable after Dec., 1886 . . . .
1856
do .
do
100 &c.
2,400,000
J. & J.
6
Jan., 1887
Pennsylvania—Reg. bonds, tax fr., (red’ble ’92).
1877
100 &c.
8,000,000
F. & A. Phila., Farm. & Mech. B’k.
5
Feb. 1,1902
Registered bonds, tax free, 15-25 years..........
1879
100 &c.
2,000,000
4
F. & A.
do
do
AUg. 1, 1904
JLoan of February, 1882 (registered)...............
1882
50 &c.
6,940,000 3 ^ & 4 F. & A.
do
do
Feb. 1,1912
do
do
in ten series.............
1882
50 &c.
2,500,000 3*2 & 4 F. & A.
do
do
Aug. 1, ’ 83 to ’92Agricultural College land scisip........................
1872
Harrisburg Treasury.
500,000
6
....
1922
Rhode Island—War bonds___.’ ...........................
1863
1,000
631,000
6
J. Je. J. Providence, R. I. H. & T. Co.
July 1, 1893
1864
F. & A.
War bonds............................. ..............................
1,000
788,000
6
do
do
Aug. 1,-1894
South Carolina—State House stock and bonds . 1853 t o ’54 1,000
158,783
6
J. & J. Columbia, State Treasury.
1871 & ’ 81
Funding bonds and stock.......................... .......
1866
50,&c
27,450
6 g. j : & j . Columbia and New York. July 1,1887 t o ’ 97
Blue Ridge Railroad bonds...............................
1854 • 1,000
61,000
Columbia, Treasury.
July 1,1875 to ’79
6 g. j. & j .
Funding bills receivable.......... .......................
1868
1,000
18,000
July 1,1888
6 g. A.. & O. Columbia and New York.
Payment of interest..........................................
1868
1,000
128,000
do
do
July 1,1888
6 g. A. & O.
58,200
Funding bank bills................................
—
1868
500,&c.
J.
&
J.
do
do
July
1,1889
6 gConversion bonds and stock.............................
1869
69,700
500,&c.
do
do
July 1 ,1 8 8 2 .
6 g. J. & J.
1874
Consol, bonds and stock (Brow n)...................
500 &c.
4,152,613
J. & J. N. Y., National Park Bank.
6
July 1,18931874
Tennessee—Funding bonds, act of 1873.............
1,000
J. & J.
6
Nashville, Treasurer.
July 1, 1914
<?>' .
Bonds regist’d, act of 1873,($292,300 are 5s). Various.
1,000
5 & 6 J. & J.
do
do
1875 to 1900
m Held by E.T. University (pot to be funded)...
1,000
397,000
J. & J.
6
do
do
Various.
Ì882
500,&c.
8,224,351 3, 4, 5, 6 J. & J. New York or Nashville.
Compromise bonds (act of May 20,1882).......
Jan. 1 ,1 91 2
(1)
1872
67,000
Texas—Funding State debt (act May 2,1871)..
6
State Treasury.
Various
1891
Frontier def’se,gold,act Aug.5.’70(red’ble ’9l)
1871
1,000
499,000
1911 •'
7 g. M. & S. New York, Bank of N, Y.
1872
Revenue deficiency bonds, act Dec. 2,1871..
1,000
467,000
do
do
1892
7 g. J. & J.
1874
1,000
Bonds, act Mar.,1874 (for paying float’gdebt)
288,000
do
>. do
March 1,19047 g. J. & J.
1876
1,000
1,647,000
Redemption of debt, act Aug. 6, ’76...............
July, 1906
6 g. J. & J. New York & State Treasury.
Bonds, act April 21,1879..................................
1879
100 «fee.
1,068,900
5
J. & D.
do
do
1909
Bonds to State University and School Fund..
216,641
.....
5
—
Bonds issued to School Fund.............................
6
320,367
Virginia—Old bonds. *3 fundable....................... 1851 t o ’ 66 500 &c.
6
J. & J. N. Y., Winslow, L. & Co.
3,030,088
1886 to ’9 5
Oid Donds, sterling, not required to be funded
1851
£100 &c. 1,302,851
5
J. & J. Londón, Baring B. & Co.
1886
Consol.) Act Mur. r71) coup, tax receivable__
1871
100,&c. 13,474,800
6
J. & J.
Richmond. Treasury.
1905
do
do
reg., conv. into Coup...
100,&c.
1871
895,147
6
J. & J.
¿o
1905
do
(Act 1872) “ Pealer,” cp. not rec’ble .
1872
100,&c.
2,394,305
6
J. & J.
do
1871
Various 15,239,370
6
J. & J.
Contingent
New funding bonds, 10-40s, ($449,300 reg.)..
8,171,600
.1879
3 to 5 J. & J.
1919
do
do
sterling............................
346,000
1879
3 to 5 J. & J.
1919
$518,617.518 in 1880, $508,892,338 in 1879 and $531,851,849 in 1878. Dec. 24, 1879, ana February, 1880. In November, 1882, the consol»
State school tax, 2 mills.
stood at $5,429,928, which amount was made up as follows: Brown
New York.—The financial conditionof the State has been fortified by consols actually issued, $4,152,613; green consols not yet exchanged.
the payment of all debt except the canal debt, as above. The sinking $1,982,391 less amount invalid, $705,077; balance, $1,277,314; total,
funds in January, 1883, amounted to $2,085,499. The new Capitol $5,429,928. The old issues yet fundable stood- as above. Valuationsbuilding has cost the State thus far $13,000,000, but this has been paid and rate of tax per $1,000 have been:
Real Estate. .
Personalty.
Railroads. Tax Rate.
for by taxation. Valuations and tax rate for State purposes have been: Years.
7 9 ... $85,633,873
$40,083,341
$6,520,772
23t
Real Estate.
Personal.
State Tax. 18781879- 8 0 ... 76,583,866
36,574,858
7,392,900'
43L
$364,960,110
2910
1878 .................................$2,373,418,490
1880-8 1 ... 77,609,666
41,785,768
13,767,400
5
1879 .............................. 2,333,669,813
352,469,320
28881000 —(V.33,
p. 12, 589.)
1880 .........
2,315,400,526
322,468,712
3^
2,340,335,690
340,921,916
2%
1 8 8 1 .....................
Tennessee.—A funding law was passed- (act of May 20,1882) without
1882 ............................... 2,432,661,378
351,021,189
,2-45
the tax-receivable coupon clause, and giving new bonds at 60 per cent
1883 ............................... 2,557,218,240
315,039,085
of the principal and interest of old, the new bearing 3 per cent inNorth Carolina.—Interest has been paid on bonds issued to No. Caro­ 1882-83, 4_per cent in 1884 and 1885,5 percent in 1886 and 1887,
lina RR., as the State holds $3,000,200 stock and receives dividends and 6 per cent 1888 to 1912. Exchanges were made in New York July,
thereon. The funding law of Mar. 4,1879, provided forfunding old ante- 1883, and $8,224,351 of these compromise bonds were issued. T h »
war bonds at 40 per cent of the face value; “ New ” railroad bonds recogT Legislature of 1883 repealed this law and passed a new one adjustingnized as valid at 25 per cent; funding bonds of 1866 and 1868 at 15 the debt on the basis of new bonds at 50 per cent of the face value o f
per cent. Nothing for overdue coupons. Coupons-of the new bonds old, and bearing 3 per cent interest; the old State debt proper of
are receivable for taxes. The funding ended January 1, 1882, but $2,118,000 is made an exception and new 6 percent bonds are to be
was continued in April, 1883, by a new law. If all were funded the issued for that at the face value. Assessed valuations and tax rate
new 4 per cents would be $3,589,511. Special tax bonds are ignored, per $i ,000 have been as follow s:
and also bonds to Chatham RR. 1868, $1,030,000, and to Williamston & Years.
Real Estate.
Personalty.
Railroads.
Tax Rate.
Tarb. RR., $150,000, and for Penitentiary under acts of -1868.
1 8 7 7.. .. $212,589,045
$24,319,803
$ /........ .......
$1
The old North Carolina RR. construction bonds are exchangeable for 1878..
.. 202,340,815
20,871,338
............... .
1
the new 6s, due 1912 (see Y. 35, p. 132), and many holders have already 18 7 9..
..
196,165,644
16,952,036
.................. ..................
so exchanged. Assessed valuation of real estate is about 60 per cent of 18 8 0.. .. 195,635,100
16,133,338
16,375.894
true value. Valuations and tax rate per $100 have been:
-(V. 34, p.l7 8 ,2 Q 5 . 231252, 428, 461,522, 596; V. 35, p. 183, 457.
763 ; V. 36, p. 18, 170, 254, 286, 332, 724 ; V. 37, p. 49, 268.)
Personalty,TotalYaluation. Tax pr. $100
Years.
Real Estate.
$51,228,268
$142,308,102
38
1878 ........... $91,079,834
Team.—-The old high-rate bonds have been redeemed and low-interest
54,468,817
156,268,241
24
.. 101,799,424
1879
bonds issued. Assessed valuations and rate of tax per $1,000 have been:
67,568,691
169,916,907
28
1880
.. 102,348,216
Years.
Real Estate.
Personalty.
Total Val’tion. Tax Rates
62,995,728
167,738,639
28
...104,742,911
1881
.. $187,722,374 $115,480,050
$303,202,424
$5
—(V. 33, p. 528,'560,' 642, 744; V. 34, p. 378, 550; Y. 35, p .2 2 ,132, 339; 1878..
1879..
..
186,297,495
114,227,912
300,525,407
5
V. 36, p. 81. 170, 399.)
18 8 0..
.. 197,167,630
121,803,106
318,970,736
Ohio.—Ohio has a very small State debt, but large local debts, amount­ 18 8 1..
.. 216,228,017
140,000,000
357,000,000
ing in 1882 to $45,766,351, against $25,957,588 in 1875, this increase 1882..............................
.....................
400,000,000
3
being mainly in Cincinnati debt. Valuations in Ohio have been as follows: —(V.
34, p. 329.)
Real estate. Personalty.
Real estate. Personalty.
Virginia.—The accumulated arrearages of interest on the debt proper.
$1,102,049,931 $456,166,034
1860 . $639,894,314 $248,408,290 1880.
-1866.. 663,647,542 442,561,379 1881. 1,101,457,383 485,750,196 October 1, 1881, were $3,565,331. The law of March 28. 1879, fo r
refunding
the debt, was given in Chronicle , Yol. 28, p. 353. The new
1878. 1,091,116,952 461,460,552 1882. 1,116,681,655 518,229,079
bonds are 10-40 year bonds, and bear 3 percent for 10 years, 4 per cent
1879. 1,093,768,904 442,979,885
for
20
years,
and 5 per cent for ,10 years, coupons tax-receivable.
State tax rate for 1881-82, 2910 mills; for 1882-83,,29io mills.
In February, 1882, the Riddleberger law for readjusting the debt and
Pennsylvania—Sinking fund December, 1882, $2,017,073.. Revenue the laws known as “ Coupon killers” Nos. 1 and 2, were, passed, (see V.
is raised principally from corporations. Taxes are levied on personal 34, p. 88). The Supreme Court of the U.-S. held (V. 36, p. 285) that theproperty. The State holds $5,775,000 of railroad bonds. Any coupon law requiring the validity of the coupons to be established before a .
bonds maybe changed to registered. Total valuation in 1882, $1,664,- State court did not impair the contract making them receivable for
847,494; tax rate, $3. (V.,33, p. 623; Y. 34, p. 20.)
taxes, and was therefore constitutional, but the case is to be reopened
in same court on appeal.
.Rhode Island.—The debt was all created for war purposes. In Jan.
Assessed values in 1880 w ere: real estate, $234,272,951; personal,
1883, the net debt, less sinking fund, was $1,382,315. The State valua $70,391,018.
The receipts of the State Treasury in 1880-81 were
tion of real property m 1883 was $328,530,559; tax rate, 12 cents on $2,632,34=5, and
current expenses, $2,152,028, leaving $480,317 bal­
$ 100.
ance. Tax rate, 5 mills. The U. S. Supreme Court in January, 1881,
South Carolina.—The funding law of Dec, 23,1873, provided for scal­ held the coupons of consol, bonds not taxable by the State. (V. 33, p.
ing down the old debt 50 per cent. The consols were agaiir“ re-acljusted” 562 ; V. 34, p. 88, 179, 379, 489, 541, 715; V. 35, p. 52. 79,104, 267. '
in 1879. The several acts were passed Dec. 3,1873, Dec. 24,1878, 603; V. 36, p. 18, 285, 286, 304, 332, 445, 471, 561; Y. 37, p. 268, 399.)




CITY

SECUBITIES.

[V ol . X X X V II,

Subscribers w ill confer a great favor by giv in g im m ediate notice o f any error discovered in these Tables.
INTEREST.
DESCRIPTION.
Amount
Size oi
Date of
Principal—When
outstanding. Rate.
par
bonds.
Due.
Wliere payable and by,
For explanations see notes on first page of tables
whom.
value.
$1,000
■Albany, N. Y.—Purchase Congress Hall Block..
1866
1,000
City improvement.. ........ .................................. 1870-’71
Washington Park.. . ..... ................................... 1870-’S2
1,000
1,000
New Post Office site.____ « ................................
1874
High School.......: .................................................
1,000
1875
1,000
Water debt ($400,000 due 1900-3, are 7s)....... 1874-’80
1,000
WesteriT Avenue improvement bonds..............
1877
3882
New City Hall. .....* ...........................................
1,000
1882
South Pearl Street b on d s......................... . ..
1,000
1865
Bonds loaned to Albany & Susquehanna R R ..
Atlanta', Oa.—Bonds for streets,&o...................... ’66-’67-’72 500 &c.
1,000
. Bonds. A. L. Railroad for and State House___ 1869-’70
Bonds for West. RR. and floating deb t............ 1872 & ’ 77 500 &c.
1,000
1874
1877 . 500 &c.
Redemption bonds........ ....................................
1,000
do
.............................................
1875
1,000
1881
do.
..............................................
Augusta, tìa.—Bonds for various purposes........ Various. 250 &c.
Baltimore—Consolidated loan of 189Q............... Various. 100 &c.
100 &c.
1877
Water loan, reg. stock, red. at will after 1916
100 &c.
1878
Funding loan, reg. stock, tax free.. ........ ......
1863
100 &c.
Consolidated bounty loan...................................
100
&c.
1865
Exempt bounty loan..........................................
100 &c.
1860
Fublic parks (Druid Hill)..................................
100
&c.
1863
ParkJmprovement loan.....................................
1853
100 &c.
Five million loan to Baltimore & Ohio R R __
1853
100
&c.
-One million loan to Pittsb. & Connellsville RR
100 &c.
1868
New City Hall............................ .........................
100
&c.
1870
do
do .....................................................
100 &c.
1874
do
do . . : ................................................
1864
100 &o.
■Consolidated loan...............................................
1881
100 &o.
Paving loan..... ............ .......................................
1870
100 &c.
Fundipg loan......................................................
1872
100 &c.
-, Western Maryland Railroad.............................
1872
-Jones’ Falls ($868,500 are 5 s ) ........ .................
100 &c.
Valley Railroad.................................................
1873
1874
100 &c.
Water loan ($263,000 only arg 6s)...................
1880
Harford Run improvement lo a n .....................
100
Wèstern Maryland RR. loan ($684,000)..........
1882
100 &o."

$150,000
6
Boston, Merchants’ Bank. Feb., 1885 to ’94
448,000
New York.
7
March,’80 to 1900
New York and Albany'.
1,044,000 4, 5, 6, 7
1910-’21
115,000
7
N. Y „ Merchants’ Nat. Bk,
Mar 1,1904
do
30,000
7
do
May 1,1883 to ’85
1,100,000
do
Feb. 1, 1893-1912
do
6 &7
117,000
do
6
do
Feb. 1. 1883-4-5
145,000
do
July 1, 1905 to ’10
do
62,000
4
Albany.
860,000
6
M. & N. N. Y., Del.& Hud. Canal Co
1895-’97
265,000
8
& J Atlanta&N.Y.,Am.Ex.N.Bk
1886 & 1892
400,000
• ■7
& J.
do
do
J. & J., 1890
418,000
8
& J.
do
ao
J. & J., 1902
430,000
7
& J.
Jan, 1, 1904
do
do
77,000
8 '
& J.
do
do
Jan. 1, 1897
M. & S,
52,000
10
do
do
Sept. 1,1885
5
J. & J.
68,500
do
do
July 1, 1911 '
7
2,061,000
Various
Augusta^
1882 to 1905
6
7^06,546
Q .-J . Balto., Farm. & Plan. Bank.
July 1,1890
5,000,000
5 ; M. & N. Balto., Nat. Merchants’ Bk.
July 1, 1916
M. & N.
1,000,000
5
do
do
After July, 1916
6 > M. & S.
2,211,068
do
do
Sept. 1, 1893
410,353
6 - M. & S.
do
do
Sept. 1, 1893
Q .-M ; Balto., Nat. Mechanics’ Bk,
555,566
6
Sept. 1, 1890
185,723
6
do
do
Q .-J .
Jan. 1, 1895
5,000,000
6
Q .-J . Balto., Farm. & Plan. Bank.
Jan. 1, 1890
1,000,000
6
J. & J. Batto., N. Mechanics’ Bank.
Jan. 1, 1886
1,000,000
6
Q .-J . Balto., Farm. & Plan. Bank,
July 1, 1884
do
do
1,000,000
6
April 15,1900
Q.—J.
do
,
do
500.000
6
March 7, 1902
Q .-J .
do
'
do
1,029,061
5
After 1885
Q.- tJ.
M. & N.
145,000
4
City Register’s Office.
After N ov.l, 1920
800,000
6
Q.—J. Balto., Farm.&Plan. Batik.
July 1,1900
1,000,000
6
r. & j . Balto., N. Mechanics’ Bank,
Jan. 1,1902
Q.—F.
do
do
1,668,500
5-& 6
April 9,1900 '
do
do
1,015,300
6
!.. & O.
Oct. 31,1886
4,000,000
r. & j . Balto., Nat. Merchants’ Bk.
July 1, 1894
5 &6
r. & j . Balio.. City Reg’ter’s Office. After Jan. 1,1920
250,000
4
371,000
4
1925
6
1,375,000
Balto., N. Mechanics’ Bank. Jan. 1 ’ 90 & 1900
117,000
6*
Baltimore, Franklin Bank.
Jan. 1,1895
Bangor, Me,—City debt proper ($50,000 are 7s) 1858 t o ’72 100 &c.
lOffiOOO 6 & 7
Boston, Merchants’ N. B’k.
1885 to ’92
1874
1,000
do
do
<fc J.
Municipal loan.......................................... ........
100,000
6
Jan. 1,1894
500 &c.
do
do
Water loan bonds, coup. (Act Feb. 22, 1875).
1875
& J.
500,000
6
July 1, 1905
do
do
European & North American Railroad...........
1869
1,000
1,000,000
Jàn. 1,1894
6
do
do
1869
April 1,1899
Bangor & Piscataquis R ailroad................ ......
1,000
6&7
925,000
City Treasury.
Various.
Bath,Me.—Fund, debt ($78,000 are 6s,’97, J.&J.)
180,500
5&6
.1887* & 1897
Boston, Second Nat. Banli. ' ’8 3 ,’ 85 & ’98
Knox & Lincoln RR., for stock and coupons.^
Various.
193,000
6
City Treasuryand Boston, Jan. to Oct., 1891
1861
Various.
Androscoggin Railroad........... ..........................
425,000
6
do
do
&
J,
Knox & Lincoln Railroad ($23,750 each year)
1869
Various.
iJuly 1,1883 to ’99
306,150
6
do
do
do
do
(F.&A. and M.&S).. 187l-’72 Various.
6
1891 & 1902
391,000
trious
4
July 1, 190a
& J.
126,600
1883 to ’87
Boston, Treasurer’s Office,
Boston—Citypurposes, war debt. &c.................... 1852 to ’64 1,000
1,734,000
5 g.
do
do
1883 to ’97
City debt and Roxhury and Charlestown ___ 1864 to ’80 1,000 10,591,000
6
do
do
....
4
1887-1913
do
registered.............................................. 1878-’82
6,294,000
do
do
.
1879
Oct.. 1889
&O
............................................
450,000
4!2g.
do
do
do
do
1877
T887
do
do
.............................................
4,90,000
4*3
do
do
,
Various.
City debt and Roxhury and Charlestown.. . . . Various.
5
...
268,000
do _
do
1883 to 1891
West Roxhury., ........ ............. .......... ...............
7
237,000
April. 1893
Burnt district, sterling loan...............................
1873
& o London, Baring Brothers,
£ l ’00&c
4,997,604
5 g.
do
Consolidated street improvem’t, sterling loan.
1869
July, 1899
& J
£100&c
3,139,980
5 g1883 to ’94
Boston, Treasurer’s Office,
Mystiq water debt, assumed............... .......... . 1862 to ’76 1,000
5&6
1,127,000
do .
do
1897 to 1908
Cochituate Water loan, 6 per cen .................. 1866 t o ’76
6
4,901,000
__
do
do
do
do
5 p e r c e n t ,................ 1875 & ’ 78
1907-1908
13,000
5
do
do
1908
do
do
4 p e r ce n t...................
1878
4
588,000
Oct., 1902
London, Baring Brothers.
do
do
Sterling.......................
1872
£100 &e
1,947,274
5 gdo
do
5 per con j gold.......... 1875-’76
1905-1908
Boston, Treasurer’s Office,
5 g.
3,552,000
1909
do
do
do
do
4*3
dr
..........
1879
4 ^g.
...\
268,000
1909-1912
do
do
do
do
4
do
.......... 1879-’80
4 g.
686,000
1891
Brooklyn,
Brooklyn—Brooklyn local improvement loan...
1861
7
1,000
213,000
do
1887
1857
& J
Mount Prospect Square loan.............................
1,000
6
90;000 '
1885 t o ’90
do
1865
Soldiers’ aid fund loan.................................... .
7
; & J,
1,000
552,000
1883 to 90
do
1866
Gowanus canal improvement loan, local........
& J.
7
1,000
116,000
1883 to ’90
do
1865
Bushwick avenue
do
do
do ........
& J.
fc J
1,000
7
134,000
1883 t o ’90
do
1866
SouthSeventh st.
do
do
do ........
& J.
1,000
7
157,000
1883 to ’86
do
Union-street improvement loan, local.............
1867
1,000
7
; & J.
194,000
2
8
do
1883 to ’95
Fourth avenue
do.
do
do
— 1862 & ’67 1,000
6 & 7 . & J.
273,000
1883 to ’ 90
•
do
1867
Wallabout Bay
do
do
.................
1,000
7
; & J
268,000
1899-1924
do
New York Bridge loan, registered and coupon
1870
7
II & J.
1,000
3,000,000
rt
«
1905
to 1920
do
Bonds for N. Y. & Brooklyn Bridge, cp. or reg. 1876-’79
1,000
8,090,000 5, 6 & 7 3 & J.
O gS
1915 t o ’24
do
Prospect Park loan,
P sr.rt coupon ... I860 to ’73 1,000
7
3 & J.
8,019,000
e-w
1915
to ’24
do
Prospect Park loan.____ ...’............................ 1860 to ’72 1,000
6
3
1,217,000
o
do
Permanent water loan............................... ....... L857to’72 1,000
f 6
J
Ü
£ 1883 to 1912
do
do
Ho
................................ -.... 1872 t o ’75 1,000
l
7
J
Albany.—The loan to Alb. & Susquehanna, is secured by first mortgage.
„The valuation of Albany County in 1882 w as,, approximately : Rea)
«state, $81,604,218 ; personal, $7,847,306 -estimated to be about threefourths of true value. oiti fax rat.- 1882,1*86. Population, 90,758 in
1880; 69,422 in 1870.
Atlanta.—The totaTbonded debt Jan. 1.1882, was $2,196.500. Assess­
ed value real of estate in 1881, $14,721,833; personal, $7,474,258.
Population, 37,409 m 1880; 21,789 in 1870.
Augusta.-^Of this debt, $600,000 was issued for railroads, and balance
for canal enlargement, water works, &c. Sinking funds, Jan. 1,1883,
$211,700. Taxable valuation in 1883: Real estate, $9,962,940; per­
sonal, $6,182,561; tax rate, $1 87*2 per $100. Population in 1870,
15,389; in 1880, 21,891.
Baltimore.—The total net debt over and above productive assets, on
5which the city is chargeable with interest, was $5,872,714 on Dec. 31,
1882, against $6.214,191 Dec. 3 l, 1881. The Baltimore & Ohio Railroad
pays interest on $5,000,000: Water loan is paid by income of water
works, and Public Park by City Passenger Railway, and against a total
debt of $36,945,691 the city is chargeable with interest on only
$27,014,285, and holds productive, assets, including the sinking funds,
equivalent to $21,141,571, leaving only $5,872,714 as an absolute
charge for interest. There are held $15,288,400 of unproductive assets.
The total amount to be raised by taxation in 1883 is $2,696,957.
Population in 1870, 267,354 : in 1880, 332,313. Assessed valuation and
tax rate have been :
Real
Personal
Total
Rate of Tax
Years.
Estate,
Property.
-Valuation.
per $1,000.
65,613,000
252,900,000
13 70
1880......... 187,387,000
1 8 8 1 .. . . , 185,197.157
62,033,032
247,230,189
13 70
18 8 2 ......... 187,240,000
60,000,000
246,234,056
13 70
Ass’d valuat’n is ne ar the full cash value. (V. 35, p. 762 : V. 37, p. 127.)
Bangor, life.—The loans to Eu. & No. Am. R. R. to Bangor& Pis. R. R.
are secured by first mortgages on those roads, and interest fully paid
from the earnings. Valuations (near full value) and tax rate have been :
years.
Real Estate.
/ Personalty.
Tax rate.
1 8 8 1 .. . . . . ___ 4....... : ........... 6,352,973
2,803,258
....
T882
............................. 6,414,703
2,893,130
2-34
Municipal property, including water works, about $800,000 Popula­
tion, 16,851 in 183C, >8,829 n 1870




Bath, Me.—The city bolds a first mortgage on the Androscoggin roatt
for the debt, and second, and third mortgages on the Knox & Lincoln for
its proportion of $895,000 out of a total of $2,395,000 bonds issued byseveral cities in aid of the latter road. Tax valuation, 1881—real estate,
$2,703,425; personal, $3,807,910; total. $6,511,335. Tax rate, $25
per $1,000; 1882. $6,847,945; rate, $25 00.
Boston.—The population of Boston in 1880 was 362,839; In 1870,
250,526. against 177,840 in 1860. The total funded debt April 30,
1883, was $41,184,358,and net debt, $24,858,817. The tax levy m 188^
is divided as follows: State, $578,055; county,$291,200; city, $8,778,556. The rate on $1,000 on valuation of 1883 is as follows: State,
72c.; county, 28c.; city, $13 50; total, $14 50, against $15 10 on
valuation of 1882. Assessed valuation on May 1 for four years have been:
Years.
Real Estate.
Personal Estate. Tax Rate.
Net Debt.
1880
. . . . $437,230,600
$201,858,600
$15 20
$27,842.104
1881
. . . 455,388,600
210,165,997
13 90
26,005,620
1882 "
467 705 100
204.785.000
15 10
24.261,661
1883
-- 478,402,800
203,966,700
14 50
24,858,817
—(V. 32, pr 99; V. 33, p. 93.)
Brooklyn.—The whole oitv debt was as follows Jan. 1,1882 and 1883.
*
*
Jan. 1,1882.
Jan. 1,1883.
Permanent d e b t.,....... ......................... - $20,857,000
$21,230,000
Water loan............IS......................... .......
9,830,500
9,859,5QO
Temn’v debt,"payable from assessment.
7,239,551
6,919,551
T a x certificates^. ...... .......... . . . . : ..............
4,270,000
4,150,000
Totals.......... ......................|.......... .
$42,197,051
$42,165,051
Collections on arrearages of taxes in 1882 were $2,615,188, and the
amount of arrears $1,435,893, showing a gain of $1,179,294 for thoyear.
Populationm 1870, 396,099, against 566,663 In 1880. Valuation of
nronerty and tax rate per $1,000 for four years have been:
Vpnrs
Real.
Personal.
Rate.
1«79
$220.363,499 ‘
$12,562,500
$25 50
iS lo
........
.............. 223,620,197
11,215,794
26 90
.............
240,128,905
15,137,040
23 77
7
8
8
2
........ 264,404,017
14,383,541
23 16
Ih e dent "o f Kings County, separate from the debt of Brooklyn, is
about $4,000,000, of which the city is responsible for nineteentwentieths. (V. S3, p. 743; Y. 35, p. 372; Y. 37, p. 74.,

October,

,1888.]

'

CITY SECURITIES.

. 9

Subscribers w ill confer a great favor by g iv in g Im m e d ia te notice o f any error discovered in these Tables.
INTEREST.
Principal—When
Amount
Date of
Size or
DESCRIPTION.
When
outstanding. Raté.
par
Where Payable and by
Due.
Bonds.
Payable
Whom.
Value.
For explanations see notes on first page of tables
-

Brooklyn—( Continued l—
Sewerage fund bonds, continuous, loca l...
Assessment fund bonds, continuous, local
Boulevard bond s..........................................
Buffalo, A. Y —Funded debt bonds...............
Waterworks bonds.................................. .
Tax loan bonds......................................... - - Cambridge, Mass—City bonds..... .................

1878-9-80
1877-8-9
1873
1879-80-81
1862 t o ’81
1868 to ’81
1877-81
1864
1863
1856 to ’76
1373-’74
1874-5
1866
1866 t o ’77
1865
1867 t o ’75
1869-71

$1,000
.1,000
1,000
l,000«fcc
l,000&c
l,000&c
1,000
1,000
500 &c.
500 «fee.
500 «fee.
1,000
500 «fee.
1,000
1,000
1,000

"do
....................- ...................... ... —
do
............................- .......................
do
.....................................................
Water loan.....................................................
do
.............................- ......................
do
.................................................. .
do
.....................................................
do
.................................. ...............
Charleston, S. C.—City stock.........................
1853 to ’5^
City bonds, coupon.......................................
Fire loan bonds, coupon...............................
1866
Conversion bonds, to redeem past-due debt...
do
do
do
1878
100 «fee.
T879
y do
coup, or reg..................
1,000
Chelsea, Mass.—Funded debt, coup............
1,000
Funded debt, coup.......................................

1,000
Water loan, coup........ ................................
500,«fee.
Chicago—Water loan........................................
1,000
Water loan.....................................................
10Ó, «fee.
1862
Water loan (refunding)...............................
500 «fee.
Sewerage b o n d s..........................................
1880
“do
............................................
1,000
River improvement bonds.......... ...............
1,000
Municipal bonds............................................
,
500 «fee.
Municipal and School bonds.......................
1881
Municipal bonds (refunding loa n ).............
1865 to ’ 80 500 ‘«fee.
' Cook County debt........................................
Cincinnati—Doans to Railroads.................... ..M 1843 to ’54 1,000
1855
1,000
Bonds to 0.<fc M. RR. to purchase whf. prop.N
1,000
1868
Bonds for erection of a Workhouse..........
1,000
,03
1868
Bonds for Water W orks..............................
Bonds for Common School purposes........ ..P 1860 t o ’61 1,000
1,000
1855
Bonds to 0. <fcM. RR. to purchase whf. prop --N
Bonds for ext. and impr. Water W. .C, D. & E 1847 t o ’50 500 «fee.
Bonds for funding floating debt................. ,A2 1847 to ’48. 500 «fee.
1867-’68 . 1,000
Bonds for new Hospital............................S&S2
1,000
1853
Bonds for funding floating debt................ ..L
1,000
1853
Extension and improve. Water Works.. .K &F
1,000
1858
Bonds to purchase Orp’n Asyl. grds. for park.O
1,000
1869
Bonds for sewerage........ - ............... .. ^... ..R
1,000
1869
Bonds for improving Gilbert avenue........ * TT
1,000
1869
Bonds to build Eggleston avenue sewer.. ,B3
1,000
1871
Bonds for improvement............................. ..W
1,000
Bonds for Water Work purposes......... C4&C5 1871-’72
1,000
1871
General improvement.......... .,.................... .W2
1872
500
«fee.
Cincinnati Southern RR .......I---------------1,000
1872
do
do
..................
500 «fee.
1876
do
do
($3.200.000 are gold 6s)
1878 & ’ 79 1,000
1,000
1874
Floating debt bonds, coupon....................
1,000
1875
Park improvement.....................................
111
1,000
1875
Water-works bonds......................................
1,000
Bonds for McLean Ave. sewer................... -U2
1876
Hospital bonds............................................
1876-’77
1.000
1880
Consol, s. f. bonds, 30-50 yrs. (Act Apl. 9, ’80.
1,000
1881
do
- do
do
100
1882
Work House and Infirmary.................. .
100 «fee.
1881
Deficiency loan (redeemable after H!91)
Clevelands- Water works ($200,000 ai® 6 p. ct.). 1872 to ’76
1882
1869 to ’81
Funded debt ($203,000 6s, $32,000 5 s )..
1872 to ’8(
1874 to ’71
Canal and canal lock ($11,000 are 6s) —
1868 to ’82
School ($100,000 are 6 p. ct.)..............
___
1868
House of Correction.................... .*.............
Various.
1876-77-7É
Viaduct tmostlv F. <&A.. A. & O. and-J. & D. 1873 to ’7t
1882
Funded debt bonds....................................

___
1,000

$1,725,000
2,000,000
842,000
4,150,000
3,915,500
2,871,882
467,937
100,000
150,000
1,266,000
689,000
514,000
100,000
526.500
55,000
635,000
162,000
29,050
51,000
103,400
500.000
109,500
3,413,300
85,000
992,000
96,000
200,000
132,000
3,490,000
3 3,000
2,133,000
490,000
2,608,000
186,000
2,536,500
843,500
4,941,500
704,000
210,000
250,000
150,000
98,000
194,000
397,000
146,500
750,000
60,000
175,000
131,000
150,000
150,000
100.000
133,000
450,000
600,000
578,000
8,335,000
4,943,000
1,820,000
1,000,000
50,000
300,000
175,000
50,000
433,462
1,337^000
235,000
60.000
500,000
800,000
100,000
1,845,000
315,000
275,000
315,000
184,000
282,200
108,100
352,200
50,000
2,138,000
86,000

J. <fe J. BrooKlym > Condona
f 3 years from date»
J. <fe J.
do
1
paid at
j 3 years from date.
J. <fe J.
do
i Nassau Bank, )
1883
1883-4
Various Buffalo and New York.
1883 to 1925
Various
do
do
1883 to 1925
do
J. <fe J.
do
July, 1883-1900
A. <fc O. Boston, Bank Redemption.
April 1,1889
I. <& J. Boston, Tremónt Bank.
Jan. 1,1893
J. & J. Boston, Bank Redemption. Jan. 1,1883 to ’9 «
J. <fc J
do
do
Jan. 1, 1903-4-5
do
A.. <fc 0.
do
Apr. «feOct. 1,’84-95
do
J. <fc J.
do
July 2,1886
do
do
J. <fe J
July 1,1886 to ’98do
do
F. <& A.
Aug. 1,1883
do
do
A. <& O.
Api. 1,1887-1895
do
VI. <& N.
dò
May, 1889-1891
Charleston.
, . 1868 to ’98
Q .-J .
1883 <fc’ 84 ■
•
do
Various
do
1890
J. <fe J.
do
1888 to 1897
A. <fe O.
1898
do
Jan. 1,1909
do
J. <& J.
1883
A. <fc O. Boston, N. Bk. Redemption
1891 to 1895
do
do
Various
1889-1890
Various
F. A A Boston, N. Bk. Redemption Aug. 1 ,1887-’95
6
1897 <fc ’98
J. <& J. N. Y., Am. Ex. Nat. Bank.
6
July 1, ’ 88 to ’9 5
do
J. <fe J.
do
7
1902
do
3-65 J. <fe J.
dQ
1884 to ’95
do
J. «& J.
do
7
July 1,1900
do
do
4^2 J. <fc J.
1890 to ’95
do
do
J. <fc J.
7
do
do
July, 1895 <fe ’96
J. <fc J.
6
1885 to ’99
do
do
7 - J. <& J.
do
1901
do
4
4*2 to 7 >M. & N. N. Y., Metropolitan Bans. May 1 , 1889-’92
1884
Various N. Y., Am. Exchange Bank.
6
Nov,, 1885
do
do
M. <&N.
6
June, 1888
do
do
7 3-10 T. & D.
1888 <&1889
do
do
7 3-10 Various
Jan., 1890
do
do
I. & J.
6
Nov., 1890
do
do
M.
<
&
N.
6
April 1,1895
do
do
A. <fc O.
6
March, 1897
do
do
M. <fe N.
6
1897 <fc 1898
do
do
7 3-10 Various
Jan., 1900.
do
do
J. & J.
6
June <fe Oct., 1900
do
do
Various
6
March, 1908
Cincinnati.
M. <fe S.
6
Sept., 1899
7 3-10 M. <& S. N. Y., Am. Exch. Nat. Bk.
Sept., 1899
do
do
7 3-10 M. <fe S.
Oct., 1899
do
do
7 3-10 A. <& O.
March 1,1886
do
do
7 3-10 M. <& S.
Aug., 18S6-’97
do
F. <fe A.
do
7
Dec. 1,1891
do
do
7
J. <fc D.
July 1, 1902
do
do
J. <fc J.
7
July 1, 1902
do
do
7 3-10 J. <fc J.
May 1, 1906
New York or London.
6g. or 7*3 M. <fe N.
6 <fc 7 M. <& N. N. Y., Am Exch. Nat. B’k. Nov. 1, 1908-’09
May 15,1904
do
do
7 • M. «fc N.
Jan. 1, 1896
do
do
J. <fc J.
7
Aug.,’85, ’90 <fe’95
do
F. <fc A.
do
7
May 1889-1909
do
do
5 <fe 6 M. <fc N.
May 1,1906
do
M. <fe N.
■do
7
XÒH3 & *84:
After
May 1, 1910
Nat.
Bk.
M.
<
fc
N.
N.
Y
.,
Am.
Exch.
5
July, 1911 to 1931
do
do
J. .<& J.
4
July
1,1892
Cincinnati.
4
J. <fe J.
June t, 1901
4
J. <fe D. N. Y., Am. Exch. Nat. Bk.
1892-’93-’95
do
do
6 <fe 7 Various
Sept. 1, 1902
do «
do
3-65 M. <& S.
1883 to ’96
do
do
4, 5, 6, 7 Various
1887 to ’92
do
Various
do
7
1894
to ’96-’9$
do
do
6 <fe 7 Various
1886-7 & 8
do
do
6 <fe 7 Various
1883 <&’84
do
do
A. <fe O.
7
1883 t o ’92
do
do
5, 6 <fe 7 Various
1883-4-5-6
do
do
5, 6 <fe 7 Various
1883 to ’89
do
do
5, 6 & 7 Various
1883 to ’87.
do
do
6
Various
1893 <fe 1907
do
do
5, 6 <fe 7 Various
Sept. 1,1887
do
do
4
M. & S
4, 5, 7
4, 5, 6,7
7
6 <fe 7
3 ^ to 7
3*2 to 7
3^2 to 5,
5
5 g.
6
6
. 6
6
6
6
6
6
6
6
7'
7
6
4
5^
6

Buffalo.—In 1875 real and personal property was assessed at The assessed value of real estate is about one-third of its true value
39,968,105; in 1876 rule of valuation changed and assessment was Population in 1870 was 298,977, and in 1880,503,185. The South Park
111,995,905. Since that date valuations and tax per $1,000 have been: West Chicago park and Lincoln Park loans are not debts of the city
Years.
Real estate.
Personalty. Tax Rate. but of distinct corporations. (V. 34, p. 574.)
1878 ........................................ 80,929,165
7,947,380
17 60
Cincinnati.—In addition to the issues above named there remains
'1882 ......................................... .......... --98.097,000-----------16 13
1883....................... ..................
101,963,765
16 27 several smaller amounts, as follows: $108,000 5s, November, 1884;
Buffalo also pays 7-10 of Erie county debt. Coupon bonds are exchange­ $56,000 (YY2, & O.) 6s, 1886-88; $17,000 6s (Q.), November, 1890;
able for registered. The interest on different bonds is 3 Ja. 4, 41a, 5, 6 $27,000 6s (A,), March, 1897; $76.000 (H2.), August, 1897. City holds
$1,274,000 of Cincinnati Southern bonds m sinking funds. In 1870 the
and 7 per cent. Population, 155,134 in 1880; 117,714 in 1870.
was 216,239, against 255., 139 in 1880. The following table
Cambridge, Mass.—The sinking funds, January 1. 1883, amounted to population
the books of the Auditor of Hamilton County, Ohio, exhibits the
$1,974,650. The investments are nearly all in city bonds at par and from
stamped “ not negotiable. Tax valuation, 1879, $49,238,098; in 1881, assessed valuation of the city of Cincinnati in the year 1860, and from
1870 to 1879;
real
Real
Personal
Total
Tax per
Valuation
Years.
Estate.
Estate
Valuation.
$1,000.
April, 1 8 8 -,MHI ___ . I . . . . . . .
___ ______
$93,032,716
$17 45
$61,620,904
$31,411,912
1860................
Charleston, 8. C.—The bonds of Charleston are mostly held within the
136,107,236
31 60
. . .. 78,736,482
57,370,754
State of South Carolina. Conversion bonds of 1899 are issued in 18 7 0..
180,361,932
22 20
18
7
1..
.
.
.
.
.
.
.
.
123,427,888
56,934,044
exchange for city stock. Valuations and tax rate per $1,000 have been :
175,084,296
20 10
..... 119,621,856
55,462,410
Years.
Real Estate.
Personal Prop.
Tax Rate. 1872
185,645,740
23
06
1873
.....
121,479,280
64,166,460
$6,555,864
$¿5 00
1880...................................... $15,017,595
181,950,074
23 38
123,231,790
58,708,284
1881....................... .......... 15,182,845
7,244.212
22501874
184,498,565
24
82
1875
.....
125,976,835
58,521,730
1882..,.......
15,454,010
7,926,602
2250
183,952,966
27 04
1876
..... 127,143,900
56,809,066
—Population, 49,984 in 18 80; 4.8,956 in 1870.
179,430,142
29 10
..... 128,820.270
50,609,872
Chelsea, Mass.—Sinking fund, January 1,1883. $214,080, and debt, 1877
172.874,068
28 54
. . .. 129,043,880
43.830,1*8
$1,661,800. Tax valuation, 1881, $15,761,537; tax rate, $19 00. ValuT 18 7 8..
169,305,635
28 98
40,832,505
ation in 1882. $16.8a3,729; tax rate,' $18 80. Population, 21,782 in 1879............... 128,473,130
167.535,356
31 00
1 * 8 0 ............ 129,956,980
37,578,376
1880; 18,547 in 1870.
161.404,393
22 20
. . .... 120,045,230
41,359,163
Chicago.—The net funded debt January i , 1883, was $12,485,794 1 8 8 1 ..
166,986,105
23 82
28,643,917
The city debt is limited to 5 per cent of the Illinois State valuation. 1882..................138,342,188
Of the funded debt, $3,955,000 is on account of the Water Works, which The city is the sole owner of the stock of the Cincinnati Southern R a il.
Tax road, leased as per terms, V. 33, p. 281, and with the waterworks and
.—----- Equalized Value.-------- >
Rate. other property owns real estate assets put at $35,775,000.
Years.
Real Estate.
Personal.
$28-63
$27,561,383
$104,420,053
Cleveland.—Th& sewer,1street improvements and street opening bonds
3201
. 9l.152.22o
ü6,817,*06
33-3.* are for special local improvements, and redeemed by assessments on tne
. 89,031.955
28,101,678
property
benefltted. Assessed valuation, .tax rate, debt and- sinking
34-72
29.052,906
. 90,099,045
. 95,881,714
33-72 funds have been:
29,052,906




.

t

IO

CITY, SECURITIES.
DESCRIPTION.

For explanations see notes on first page of tables.
Des Moines, Iowa—Renewed judgment bond

Date of
bonds.
1875

Funding bonds___ ...............................
1878
Coupon warrants and sewer and’paving bonds
Detroit,Mich,.—For Water W.Co., onrcity’s credit 1855tò"’80
Public Building stock (City Hall) bonds
1859 t o ’71
Public sewer bonds ($35,000 are 6S) '
1872 t o ’76
Bonds for purchase Belle I s le .............. ; . Y Y Y
1879
Elizabeth, N. J.—Improvement bonds .
1871 t o ’74
Funded debt bonds................ ............ .............. 1870 to ’75
School House b o n d s .....____ . Y Y Y I
1872 to ’73
Market House bonds...... . . Y Y Y Y .................
1865 t o ’66
Consolidated improvement1bonds..................... 1875-’76
Funded assessment bonds. „ . . . .
T ax arrearage bonds....... ...'........ ' . . . . ............
New compromise bonds......... Y . Y Y
.............
1882
Evansville, Indiana.—E. H. & N. RR. bonds
1868
f City wharf bonds.................
1869
E. C. & P. RR. b o n d s .............. ...........................
1870
do
do
.................
1870
Water works bonds...................- - - - - - .................
1870
Redemption bonds..............
1876

do

' do

............... .............y. y

do
do
.d o

1876

do ......................... Y . Y Y Y Y "
1877
do ; . ............... V.Y/.Y."*
1878
do
. ; .................. ...............
1881
Fall River, Mass.—City notes.......
City bon ds............... ; ............. . . . . Y . ..................
do
....... . . ; . l . . . . . .
do
........................ Y Y Y Y Y
,.................
do
......... ..................... .Y
do
........................... .. . . . . . . .
Water loan.............. , ........... .
do
................................................................
do
...................... Y*
.............. .
do
............................... Y Y Y Y Y Y Y Y Y .
Fitchburg, Mass.—City bonds ...........Y Y Y .......
1873
Water loan.......................... IB___ I
1871 %
do.
. . . : .......... ............... I ........Y Y Y Y Y I Y
1875
Galveston, Texas—Bonds for various purposes, 1.869 to ’75
limited debt bonds (sinking fund 2 per cent) 1877*8-9
do
do
........................
Galveston County bonds, G. C. & S.' F." R R . ! [ [
1882
H artford, Oonn.—Water bonds.................
1865-’78
City bonds (H. P. & F . RR.)....... ..................... Y
Park bonds (4 of these bonds are for $500 each)
Funded debt..................... ^ .... . ........................
Capitol bonds................................. Y .............
1873
Hartford town debts to railroads ÏÔY2 5 Y Y Y . 1879-’80
do
do
w a r....'............
. . . . . . _ 1863
do
floating debt........................ YYY
Holyoke, Mass.—City notes....... ............. ...... .... ! 1871-’74
City bonds, sinking fund..................
" ".* "
-1874
.................... Y Y Y Y Y
Water loan
do
1872
Railroad loan do
($60,000 are J. "& J.j
1873
Indianapolis—Bonds to railroads..
1869 t o ’70
Bonds to Un. RR. Tr. Stock Yard (mortgage)
1877
Loan bonds, series A
1873

do
do
do

do
do
do

B.
C
D

Purchase-money bonds—Southern Park! Y ! . . .

Jersey City—W ater loan bonds, m ostly coupon

Size or Amount
par
outstanding,
value,
$ 1,000
1,000

Rate.

$229,000
175.000
182.000
1.500.000
572.500
- 329,500
100,000
204.000
615.000
71.000

1,000

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

[V o l . X X X V II.

INTEREST.
When
Where payable and by
payable
whom.
J. &' J New York, Kountze Bros,
J, & J
do
do
Various
Various N. S'., Metropolitan N. Bk.
Various
do
do
F. & A
do
do î
F. & A
do
do
Various
City Treasury,
Various
do
Various
do
Various
do
A. & O
do

66.000

1.994.000
675.000

Principal—When
due.
July, 1892

July, 1888
1887
1883 to 1906
1883 t o '91
1892 to ’97
1899
1879 to ’81
1882 t o ’95
1882 t o ’93
1882 t o ’86
1885 to ’96

202.000

348.500
250.000

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

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

N. N. Y., Farmers’ L. & Tr. Co
Maj 1, 1898
N.
do
do
May 1, 1899
D.
do
do
Dec. 1, 1890
D.
do
do
Dec. 1, 1895
J.
do
do
July 1, 1895
O.
do
do
April 1, 1906
N.
do
do
May 15,1906
D.
do
do
June 1, 1907
do
do
April 15,1908
F. "& "A.
do
do
Feb. 1,1911
Various
City Treasury,
1883 to 1888 I
Various
do
1883 to 1891
F. & A.
Boston, Revere Bank.
Aug. 1,1894 •
M. & N. Boston, Bank Redemption,
May 1,1895
do
do
May 1, 1895
do
do
1896-1898
---do
do
Feb. 1,1900-1909
M. & N.
do
do
Nov. 1,1892-1906
F. & A.
do
do
Aug. 1,1899-1905
May 1,1908-1909
J. & J. Boston, Merchants’ Bank
July 1,1893
J. & J.
do^
do
July 1,1891
J. & J.
do
do
July 1,1905-1906
Various
Galveston,
1883 t o ’91
M. & S
do
18931909
J. & D
New York or Galveston.
1920
J. & J N.Y., Amer.Exch. Bk.& Gal,
1902
Various
City Treasury.
1890-1906
J. & J.
Suffolk Bank, Boston.
June 1, 1891
F. & A. Merchants’ Bank, Boston
Aug. 1,1884
& J.
City Treasury,
Jan. 1, 1893
& J.
do
Jan. 1, 1897
& J.
Town Treasurer,
1894- 1900
& J.
do
$10,000 yearly
& J.
do
Jan., 1900
Various
City Treasury,
1883 to 1889
A. & O.
do
Oct. 1,1889
& J.
do
Jan. 1,1900
A. & O.
do
Jan.&Apr.l, 1894
Jan.
City Treasury.
Jan. 1, 1889 to ’90
. & J. N. Y., Winslow, L. & Co.
Jan. 1, 1897
. & J.
do
do
July 1, 1893
, <te J.
do
.
do
July 1, 1893
. & J.
do
do
July 1, 1894
. & J.
do
do
July 1, 1895
. & J.
do
do
Jan. 1, 1899
, & J. N. Y.,Mereh. Ex. N. Bank, Jan., 1889 to 1909
Various
do
do
1899 to 1913
& J
July 1,1907
& J
July 1,1913
M. & N
May, 1891
arious
1886 to 1906
. & J
June 8, 1900
M. & NMay 1,1897
Various
1882-’90
Various
’84-’85-’89&1900
& J.
Jan., ’98 to 1900
& J.
July, 1889
Various
1884 & 1889
Various N. Y., Mereh. Ex. Nat. B’k.
1905-1906
& D.
do
do
June 1,1886
Demand,
F. & A. N. Y., Merch. Ex. Nat. B’k.
Feb. 1,1909
Various
do ‘
do
1910-1911
New York, Kountze Bros. 1890 & ’97-1901
do
do
1880 t o ’97
Various Boston, Tremont Bank,
1884
Various
do
do
1885 to 1892
J. & J.
do
do
July 1,1894
A. & O.
do
do
Oct. 1, ’90, to 1906

100.000

196.000
100.000

1,000
1,000

300.000
300.000
105.000
100.000
100,000
100,000
280,000
64.000
600,000
450.000

1,000
1,000
1,000

261,860
500.000
450.000
550.000

Large.
lOOO&c.

100.000

200.000

1,000

400.000
300.000

1,000

1,000
100 &c.
ljÔOO
1,000
1,000

1,000

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

100.000

348,300
510,100
349,600
417.000
977.000
500.000
30.000
' 300,000
1,000,000
1.250.000
100.000

203.000
185.000

1,000
1,000
1,000
500

271.000
250,ÇOO
226.500
155.000
500.000
300.000
300.000
300.000

1,000

1,000
1874
1,000
1874
1,000
1875
1,000
1874
500
1852 t o ’67 1,000
1869 to ’73 1,000
1877
1,000
1873
1,000
1871
500 &c.
1872 t o ’76 1,000
1870
1,000
1872
1,000
Various.
1,000
Various. Various
1869
l.OOO&c
1869
l.OOO&c
Various. Various
1875-’76
1876
1878
1879
1,000
1880-T

W ater loan bonds, mostly coupon............... .
do
do
do
........... . . Y I
Forty-year bonds...............................................
Improvement bonds....................................Y Y Y
................... ............. ..............
do
do
Morgan street dock................................. . Y Y ! Y
Funded debt bonds................... ............. Y ............
■Old Jersey City bonds, coupon........... Y Y Y Y I
Hudson City bonds............... .................. ................
Bergen school loan bonds...... .............. ! ! ! ! Y ! Y
Bergen street improvement b o n d s ............. ! Y
do
bounty loan........................................ . . .
Assessment funding bonds................ Y Y Y . . Y
Revenue bonds, coupon or registered___
Temporary lo a n
............................. . . . . .........Y
Bonds to fund floating debt. <&c., coup, or reg
' Bonds to pay maturing bonds, & c.................
Kansas City, Mo.—Bonds............................
Bonds............I ............, ......................... ! ! ! ! ! ! ! ! ! ! ! !
Lawrence, Mass.—Funded debt.
1859 to ’64 5000&C.
Funded d e b t.. . ¡...........................
1862 t o ’75 5000&C.
do
. . . . ............................Y Y Y Y Y Y Y !
1874
1,000
W ater lo a n .. ; ........................ .......
1873-’75 500 &c.

200.000

109.500
764.000
3.329.000
255.000
627.000
2.669.000
2,771,500
125.000
500.000
837,400
162,550
150.000
400.000
73.000
900.000
400.000
645.000
1.353.000
600.000
385.000
786.000
25.000
107.000
262.000
1.300.000

Fall River, Mass.—The sinking funds amounted to $544,699 Jan. h
1883. Total debt, including water debt, $3,455,860. Population,
48,961 in 1880; 26,766 in 1870.
*
.
'^ c h b n r g . Mass.—Sinking fund, Jan. 1,1883, $114,506. Population
12,270 in 1885; 11,260 m 1870. Valuation, tax rate per $1,000, & c.:
Years.
Real Estate. Pers’i Prop’ty. Tax.
Debt. Sink’gFd.,&o.
1881 . . . . . . $6,993,700 $2,530,164
18 00 $873,523
$182,284
2,628,911
19 00
831,023
158,449
1882 ........ 7,484,625
1883
7,672,655
2,719,979
16 40
114,500
—The assessed valuation of real estate is about the cash value.
Galveston, Texas.—Assessed value of real and personal propertv.
1881-82, $17,625,862. Tax rate, $1 50 on $100; 1882-83, tax rate 13,*.
In April, 1882, the Galveston County 10 per cent bonds were called in
and 6 per cents issued instead. Population in 1870,13,812; in 1880.
22,248; 1882, estimated, 32,000.
Hartford, Conn.—Total city debt, April, 1883, $4,360,000; net, after
deductmg resources, $2,079,250; net town debts, $1,249,510. Assessed
valuation in 1882, $47,660,868. Sinking fund Jan. 1, 1883, $120,182Population, 42,553 in 1880; 37,743 in 1870.
Holyoke. Mass.—Bonds all coupon, but can be registered. Total net
debt, $817,318. Valuation, 1882, $13,374,055; tax rate, $15 40. Popu­
lation, 21,915 in 1880; 10,733 in 1870.
“•
Indianapolis.—The School Board is a distinct organization and levies
its own tax ($2 20 for 1882), which is included in tax rates. There
are a few other small issues amounting to $50,000. Valuation and tax
per $1,000 havebejen:
Years.
Real Estate.
Personaltv.
Total.
Tax.
1879
.........$38,286,235
$9,813,705
$48,099,940
$9-30
.......
39,100,250
1880
10,930,021
50,030,271
10-70
1 8 8 1 ......_____ 39,063,725
12,837,492
51,901,217
101882................
39,315,725
.
13,296,870
52,612,595
11Population, 75,056 in 1880; 48,244 in 1870.
. Jersey City.—One of the main causes of embarrassment in Jersey City
is found m the failure to-collect back assessments and in the immense
value of railroad property exempt from taxation. The Comptroller, in
Dec., 1882, made the following statement in his report: ’
Tot. taxes overdue Dec. 1/82 less deduct’nSdue State and Co. $3,286,002
2 954 368
Total assessments due and unpaid.......... ..................
Of these, $5,855,418 was estimated to be coileotibie."
’
’
.

. .

Real and
Tax per
-------Total Bonded Debt------.
Years.
Personalty.
1 , 000 .
General.
Special.
18 8 0
$73,647,694
$151520
$6,326,250
$1,589,000
1881
79,586,156
14i20
5,888,250
1,176,200
1882
..................
82,684,212
14300
5,943,000
750,100
—Population, 160,146 in 1880; 92,829 in 1870.
•D es Moines, iowa.—Assessed value of property, $5,104,240, which is

■debt of
The water works bonds are issued on a pledge of
the city credit, and $75,000 per year collected in taxes to pay interest on
them. Assessed valuation, m 1883-84—real property, $78-982 1 7 0 personal, $26,928,725 ; total, $105,910,925, which is made on’the basis’

o f true value. Tax rate, $10-89 per $1,000.
oasis
Elizabeth. N. J.—Default was made in interest Feb. 1,1879. Suits on
^ d s a r e pending. Total bonded and floating debt Jan. 1,1883, $5,052 212i TJie proposition to issue bonds for 50 per cent of the face of the
de5 L wa?, urged on bondholders, but was rejected by them. See V 35

20' 832Realty & Personalty. Tax Rate.
Debt.
J § 7 6 --........................................... ...$16,250,805
2-68
$4,900,000
1 §7 7 ........ ; . . . . . .........
15,289,888
2-50
5.130.000
1§7 8 ...................
.14,614,918
3-56
5.380.000
1 8 7 9 . . . , , . . . , . . ................................. 11,530,031
2T2
..
5.400.000
—V. 32, p. 231, 253, 312, 368, 420, 612; V. 34, p. 32,177, 342, 663’- V
35, p. 78, 431, 602 ; V. 36, p. 510, 560, 590, 651; V. 37, p 342 )
’
floating debt. Population in 1870, 21,830; in
J880, 29,280. Assessed valuation (true value), tax rate per $1 000
and debt have been :
f
Years.
Real Estate.
Personalty.
Tax.
Debt.
1380..................... $12.919.360
[$5,232,645
$15 00
$1,651,000
1881..................... 13,925,825
5,379,940
12 50
1.651.000
!5 ,205,795
6,031,105
12 50
1.651.000
—(V. 36, p. 253, 427; V. 37, p. 234, 266.)




70
20

O ct o b er , 1883.1

CITY

SECURITIES,

I f

Subscribers w ill confer a great favor by g iv in g im m ediate' notice o f any error discovered in these Tables.
INTEREST.
Principal—When
Date of
Size or
DESCRIPTION.
Amount
When
Due.
par outstanding. Rate.
Where Payable and by
Bonds.
Payable
Whom.
Value.
For explanations see notes on first page of tables
J. & D. City Treasury and Boston.
6
1888
....
$ ....
$50,000
Lewiston, Me.—City bonds ($55,000 eacb year).
J. & J.
do
July 1,1885&1901
6
215,000
do
($30,000 due 1885, $185,000 1901)
do
1594 & 1899
131,000
4%
Bonds.................................... 1..............................
J. & J.
July 1, ’93-1913
1883
4
do
500 &c.
200,000
New bonds............................................ . . ...........
A. & O.
5
do
Oct. 1,’97-1907-’17
474,000
Water bonds......................................................
Various N. Y., Bank of America.
1887,’89, 97
6
1,281,000
Louisville, K y.—Water works............................. 1857 to’’ 67 1,000
Various
Louisville.
6
1886,’ 96, ’97
198,000
For improvement of streets............................. 1866t o ’67 1,000
J. & J.
New York City.
1923
1883
500 &c.
4
500,000
For improvement of streets ($1,500,000)..., .
J. & J. N. Y., Bank of 'America.
July 1* 1903
1873
7
1,000
600,000
Re-construeting street............... .....................
do
do
Various
1891, ’92 & 1903
7
650,000
Public buildings and institutions................ 1871 to ’73 1,000
Various New York, U. S. Nat. Bank.
1884 t o ’89
6
123,000
Public school and school houses....................... 1853*to ’69 1,000
July, 1898
6
J. & J. Louisville, City Treasurer.
1868
1,000
81,000
Sewer bonds.......................................- ................
J. & D. N. Y., Bank of America.
7
June, 1901
1871
1,000
423,000
do
. . . . ___%..........................................
do
do
1888 & 1903
Various
1,863,000
7
Elizabeth & P. Railroad..................................... 1868 & ’73 1,000
1883 to 1898
6
Various Louisville and New York.
255,000
Wharf property................................................... ’54,’62,3,8 1,000
do
do
A. & O.
Oct. 1, 1898
6
1869
1,000
133,000
Jail bords...... ..............— .......... .......... ..........
J. & D.
do
do
1889
73,000
6
For old liabilities................................................ 1871to ’74 1,000
1894 & 1901
do
do
513,000
7
Various
do
do
............................................
1868
1,000
M.
&
S.
N.
Y.,
Bank
of
America.
Sept.,
1891
7
485,000
Louisville, New Albany & St. L. Air Line RR.
1,000
1871
July, 1901 & 1903
J. & J.
7
dodo
350,000
Road bed, Louisv., Cin. & Lex. R R ........ ........ 1871 to ’73 1,000
1886
to
’93
New
York
and
Louisville.
6
Various
1,408,000
City bonds payable! by Louisv. & Nash. R R ... 1851t o ’63 1,000
M. & N. N. Y., Bank of America.
5
Mav 1, 1920
1,000,000
.Old liabilities (half are 10-40 and half 20-40).
1880
1,000
1883
t®
1894
City Treasury.
524,300 4 to 7 Various
Lowell, Mass.—City notes (various purposes) . . 1862t o ’ 82 Large.
Boston.
1891 and 1892
4
M. & N
1882
200,000
Bridge n otes................................ ............. .........
Large.
M. & N.
1892
4
do
1882
120,000
1,000
Bridge bonds..................................... ............... .
do
1884 to 1903
4
Various
375,000
Sewer bonds.......................... .....................ii.___ 1882 & ’83 1,000
City Treasury.
1886 to 1911
575,000 6 to 6*2 Various
Water notes....................................... ............... 1871t o ’ 81 Large.
M. & N.
Boston.
6
1890
1870
1,300,000
1,000
Water bonds............................... - ....... .............
City Treasury.
6
Various
1885 to 1890
121,500
Lynn, Mass.—Water notes.................. ................ 1870-’3-’5 Large.
1891 to 1905
881,000 312,4,5, 6 J. & J. Boston, Bank Republic.
1,000
Water bonds............. ...................... .................... Various
do
do
1884 to 1896
672,000 5, 5 % 6 Various
Funded debt....................... .......... ..................... Various 50Ô &c.
1886 to 1890
1,000
305,000
378,6 Various CityTreas’ry & Bk. Repub.
City Hall and School House..................'.......... Various
City Treasury.
1883-1894
6
....
85,000
J. & J.
Manchester, N. H.—City bonds.............................
do
April
1 , 1884-’85
6
A.
&
O.
80,000
HI*
City bonds............... ............................................
Suffolk Bank, Boston.
May 1, 1893
6
M. & N.
do
...........( ......... .................... ......... .
70,000
July
1,1890
& ’95
6
do
do
1874
10Ö&C.
200,000
J.
&
J.
Water bonds ($100,000 each year)..................
1887-’92-’97-1902
J. & J.
City Treasury.
1872- 100 &c.
400,000
6
do
do
do
..................
July
1,
1911
4
do
•
100 &c.
60,000
J. & J.
1881
Bridge bonds........................................................
1873 to 1902
Memphis, Tenn.—School and paving bonds........ 1867t o ’68
6
J. & J.
Memphis.
|
1873 to 1900Post bonds.................. ...................... ............. . 1867, ’ 8, ’9 500 &c. | 1,300,000
M. & N.
Nov., 1900
341.000
1870
1,000
Funding loan, gold.............. .............................
K
60,000
Mississippi River Railroad bonds....................
Charleston, S. C.
July, 1872
300.000
7
J. & J.
1,000
Endorsement Memphis & Little Rock R R .......
1857
City Treasury.
1907
Compromise bonds, coupon (Flippen).............
6
J. & J.
1877
1,000
900,000
New York.
3-4
1913
1883
1,000
New compromise bonds....................... ....... ......
(?)
June 1,1891
265,000
5
J. & D. Mil.&N.Y., MortonB. & Co.
1861
500 &c.
Milwaukee, Wis.—Re-adjustment bonds__ . . . . .
Jan. 1,1901
do
do
230,000
J. & J.
7
1871
1,000
General city bonds........................................
do
do
June 1,1896
95,000
j . & D.
7
1876
1,000
do
do
.
............................... ......
do
do
July 1, 1902
4
1882
100,000
J. & J.
1,000
Bridge b o n d s ........................................... ........
do
do
Jan. 1,1902
J. & J.
1872
409,000
7
1,000
Water bonds, coupon..... ...................... . — ...
Jan. 1,1902
J.
&
J.
do
do
1872
10,000
1,115,000
7
do
registered.......... ..........................
J. & D. New York, Nat. Park Bank.
Dec. 2, 1892
250,000
8
1,000
Minneapolis, Minn.—City bonds........ .............
Various
do
do
1883-1885
35,000
10
City bonds.. ; ...............................................
do
do
1885-1905
Various
621,000
8
do
..... ...............'................................. .
1896-1902
Various
do
do
360,000
7
do
......................................... - ................
do
do
1899
6
Various
40,000
do
............................... ............................
--**
1893
22,000
Various
do
do
5
do
.......... ..............................................
1906-1912
do
do
456,000
412 Various
do
............................................................ 188Ì-’82
July 2, 1913
do
do
1,000
290,000
1883412 J. & J.
do .
.................— ...............................
Jan. 1, 1906
2,221,500
3 to 5 J. <fc J. N. Y ., Merchants’ Nat. Bk.
500
1881
Mobile—Funding bonds.........................................
1882 t o ’99
Various New York and Nashville.
1,417,400
6
Nashville, Tenn.—Various city bonds................ 1870 t o ’81 100 &c.
___
1884 t o ’96
1,249,000
6 & 7 Various Newark, City Treasury.
1,000
Newark—War bds.,float’g debt, &c. (s.fd. of ’ 64)
A. & O.
do
do
April, 1888, to’ 9 3
1,000
500,000
7
Public school bonds...................... - ......... ..........
July 1, 1895
J. & J. Newark, Nat. State Bank.
400,000
7
1875
1,000
Clinton Hill bonds, coup. & reg. (s. fd. 3 p. c .).
do
do
1908 & 1910
1,200,000
1,000
5 & 6 Various
Corporate bonds, coup, or reg.(act Apr. 21,’76) 1878-’80
1886, ’93 & 1909'
M. & S.
do
do
2,450,000
1,000
7
Sewer and improvement bonds (local liens). . 1871-’79
1879 & 1892
do
do
1,000
3,240,000
7 - Various
Aqueduct Board bonds.......... - ........................,J
1886-’90
1,000
1,331,000
F. & A.
do
do
7
Tax arrearage bonds............... ......................... 1876-’80
1891
do
do
F. & A.
1,000
170,000
5
1861
do
do ...........................................
1892
do
dO
F.
&
A.
5
1882
1,000
137,000
do
do
............. .............
1884 to 1890
A. & O.
City Treasury.
35,000
6
New Bedford, Mass.—Bridge and city bonds___ 1861-’74
1891 to 1910
do
A. & O.
223,000
6
1875
10,000
City improvement.......... - .............................
1884
A. & O.
26,000
5
1,000
War loan...................................................... .......
1900
to 1904
100,000
A. & 0.
5
1,000
1876
Water bonds.........................................................
1885 to 1909
400,000
A. & O.
6
1867 t o ’76 1,000
do.......... .................. ............. .........
1884
to 1909
190,000
A. & O.
7
1,000
............. ............... ............................. 1872-’74
do
1887 to 1891
City Treasury.
50,000
4
1,000
1881
A. & O.
Sewer bonds..................................... ^
.
Oct. 1, ’91 & 1901
City Treasury.
A. & O.
499,000
1,000
7
1871
New Haven, Conn.—Sewerage.................... .
Oct. 1, ’82 to ’86
do
80,000
A. & O.
1,000
- 6
For Derby Railroad ($20,000 payable yearly)
1867
do
July 2 ,1887-’97
150,000
J. & J.
1,000
5
1877
City bonds (10-20 bonds).........................
July 1. 1892
New Orleans.
4.300,000
J. & J.
1852
1,000
6
New Orleans—Consolidated debt................
1874-5 & 1894
do
221,000
Various
6
1,000
1854-55
Railroad debt............... ............. . . . . ; ........
Jan. 1, 1899
do
82,400
J. & J.
5
1869
Waterworks loan of 1 8 6 9 .......................
■
March 1, 1894
do
-567.750
M. & S.
7
Seven per cent funding loan of 1869___
1869
___
June 1, 1895
do
375,750
J. & D,
1870
7
Seven per cent funding loan of 1870___
1887 to 1897
do
85,500
Various
jefferson City (debt assum ed)...,..........
’57, ’ 67,’70
8
The total debt of the city January, 1883, was $17,365,450; sinking Years. Real Estate. Person’l Prop. Tax Rate. Total Debt. Sink.Fds,&V
$7,385,416
$17 60
$1,004,412
$38,860
funds, $1,386,805. Population in 1880, 120,722, against 82,546 in 1881.. $10,557,892
1882.. 15,379*324
3,796,084
16 20
994,651
47,623
1870. Taxable valuations and tax rate per $1,000 have been:
Years.
Real Estate.
Personal Prop. Tax Rate. —Population, 32,630 in 1880'; 23,536 in 1870.
1880
.............................$54,122,875
$5,343,815
$2800 Memphis, Tenn.—The city has been in default for interest since Jan.
.
54,619,565
4,786,037
29801,1873. The Legislature passed a bill, January, 1879, repealing the1881
........................... 56,125,552
5,640,300
2900city’s charter, and the “ Taxing District of Shelby County” was organ­
1882
1 8 8 3 ................................ 56,304,772
5.203,325
2940ized. A receiver for the city was appointed, but U. S. Supreme Court
Estimated tax rate in 1883-84, $32-80 per $1,000.
held such action void. The compromise bonds of 1877 were Issued at
Kansas City.Mo.—In 1876 assessed valuation was $8,923,190, and tax 50 cents on the dollar. Under the act of March 3, 1883, new com­
levy 23 mills; in 1882, assessed valuation, $24,316,020, and tax rate promise bonds are issued, bearing 3 per cent till January, 1884, then 4
per cent till 1887, and 6 per cent thereafter. (See details, V. 37, p. 202,).
17]s mills.
Lawrence. Mass.—Total debt, $1,764,000. Sinking fund, $170,553. In 1881 total valuations, $15,112,444; tax rate, $1 60 on the $100.
Tax valuation, 1882, $26,269,506; tax rate, $16 60. Population, Population in 1870, 40,226; in 1880, $33,592. (V. 36, p. 221, 366, 731;
V. 37, p. 202.)
39,151 in 1880; 28,921 in 1870.
Milwaukee, Wis.—The city cannot issue debt beyond 5 per cent of its
Lewiston, Hie.—Total net debt, April 1,1883, $926,436; sinking fund, average
assessed value for five years. Sink. fd. Jan., 1883, $150,000. Hr
$143,564. The railroad bonds were issued to build the Lewiston & Auburn 1882 valuation
$62,271.935. Sinking funds are provided for all the
RR., which is owned by the cities of those names. Valuation in 1883, bonds. There iswas
also about $47,000 scrip issued to settle old railroad
$10,679,926; tax rate, 2 ^ per ct. Population, 19,076 in 1880; 13,600 bonds. Population,
71,440 in 1870; in 1883 (estimated), 130,000.
in 1870.
Minneapolis, Minn.—Total debt, $1,534,000; tax valuation, 1882,
Louisville—The funded debt, Jan. 1,1883, exclusive of loans payable
b y railroads, was $8,342,000, against $8,759,000 Jan. 1,1882. The sink­ about $40,655,442; tax rate, 19710 mills; bonds all coupon. Population,
ing funds on Jan, 1, 1883, amounted to $4,269,830. Population by 46,887 in 1880; 13,066 in 1870.
census of 1870 was 100,753, against 123,758 in 1880. The following
Mobile.—Interest was in default from July, 1873. A settlement with
figures give the assessed property valuation; 1877, $68,522,947; 1878, bondholders was offered by act of March 9,1875. In Feb., 1879, the
$63,194,487; 1879, $64,018,242; 1380, $66,209,440; 1881, $68,753,770; Legislature repealed the charter of the city. In-Oct., 1880, bondholders
1882, $70,029,724, of which $52,269,684 was reality. Tax rate in '1832, offered to take new 25-year bonds, bearing 3 per cent for 5 years, 4 peron real estate, $2 35. (V. 36, p. 590.)
cent for 15 years, and 5 per cent for 5 years. In Dec.,1882, the un­
Lowell, Mass.—All the notes held by savings banks. Water loan sink­ funded debt was estimated at $188,555. Valuation of real and per-'
ing fund Oct. 1, 1883, $387,259; other sinking funds, $165,667:' Pop­ sonal property in 1882, $15,563,130; tax rate, $6 per $1,000. Popula­
ulation, 59,475 in 1880; 40,928 in 1870. Assessed valuations ilrl'883 tion, 31,297 in 1880; 32,034 in 1870.
w ere: Real estate, about $35,057,275; personal property, $14,895,526;
Nashville, Tenn.—Assessed valuation of all property in 1881 was $12,ta x rate, $15 20; in 1882, valuation $46,414,412; tax rate, $15 6 0 .'"
179,450 real property and $3,070,125 personal; tax rate, $20_per $1,000.
Lynn, Mass.—Total debt, Dec., 1882. $2,175,500; sink. f ’ds.,$333,032. Population, 43,350 in 1880 ; 25,865 in 1870.
Newark.—The bonds in the first line in the table are payable out of the
Population, 28,233 in 1870; about 42,000 in 1882.
Manchester, N. H.—There are also $16,000 5s due before 1885. Total sinking fund of 1864, which amounted Dec. 31, 1882, to $1,606,751;
debt Jan. 1 , 1883, $927,500. Assessed valuation? abo out„70*perjjent of public school bonds out of public schfol fund. $394.368: Clinton Hill
bonds by sinking fund, $132,230; tax [arrearage, $735,556; corporate
true value), tax rate per $1,000, &c, have bean:




12

CITY SECURITIES.

[v o l .

xxxvir.

Subscribers w ill confer a great favor by giving; Im m ediate notice o f any error discovered In these Tables.
DESCRIPTION.
For explanations see notes on first page of tables.

Date of
Bonds.

Size or
Amount
par outstanding
Value.

Rate.

INTEREST.
Whqn
Where payable and by
payable
whom.

Principal—When
due.

New Orleans—(Continued)—Street impr. bonds.
1871
$ 1,000
$19,950
7-3 F. & A,
New Orleans.
Aug. 1, 1911
Consol, gold bonds (gen’l and drainage series)
1872
1,000
140,000
7 g. Q.—J.
New York or London.
July 1, 1922
Ten per cent bonds, deficit and old claim ... .
Various
1871
198,250
10
A. & O.
New
Orleans.
April 1, 1881
New premium bonds (in exchange)__
8.313.000
5
Park bonds..... . . . . . . . . . . . .................
1 , 6*00
18*83
. 126,000
6
J. *&” j.
New Orleans,
Jan. 1, 1923
Ten-year bonds to fund coupons. .. ’ *"'*"’.'. ” *"
1,393,400 I
J. & J.
-6
dó
Newton, Mass.—City bonds and notes
1864to"’75 i,o‘o*6&c
363,953 5, 6& 6*2 Various
City
Treasury.
1883 to 1895
Water loan ($600,000 6s) ............................... 187576-80
1,000
, 934,750
4 ,5 ,6 J. & J. Boston, Comm’nwealth Bk July 1 , 1905-’ 10
New Tork—Accumulated debt honSs, c it y ........ 1869-’70
100
6.500.000
7
M. & N.
Nov. 1,1884 t o ’ 88
Accumulated debt bonds, county.. . . ___
1869-’70
100
6, 000,000
7
M. & N.
N ov.l,1884to ’88
Assessment bonds..................
1879 t o ’83
500
4 & 5 M.«fc N.
Nov.1,1884 to ’87
■Assessmentfund bonds.......
1879
700,000
500
6
M. & N.
Nov. 1,1884
v Assessment fund stock___. . . . . ! " ! . ” . ” ” ” ! 1868 t o ’ 83
500
4,5, 6 & ‘ M. & N.
1887, 1903&1910
Additional new Croton Aqueduct stock.......... 1872 to ’77
1,331,300
500
5 ,6 & 7 M. & N.
Aug. 1,1900
Croton water stock............................................. 1847 t o ’ 52
321,400
100
5&6
Q.—F.
Feb. 1,1890
' -Croton water stock, additional.. . ! ! ” ! . ” ! ” ” 1871 to ’83
4, 5,6 & 7 M. & N.
500
Nov.1,1891
& ’ 99
Croton water main stock................................... 1871 to ’81
5.196.000 4,5,6 & 7 M. & N.
500
Nov.
1,1900-1906
Croton Reservoir bonds....................................«
20,000
1866
6
100
Q .-F .
Aug.
1,1907
o
Central Park fund s to c k .................... -.1....... ! 1857 t o ’59
3,066,071
6
100
Q.—F.
Nov. 1,1887
+co
=^°3
do
do
.................................. 1856 t o ’ 58
-674,300
5&6
100
Q.—F.
July 1,1898
Central Park improvement fifnd stock............ 1857 t o ’60
2.083.200
6
100
Q.—F.
gg
Aug. 1, 1887
f ■j.
do
do
.......... 1865 t o ’71
1,766,600
6
100
Q —F.
SA
Jane
1,1895
Central Park commission improvement bonds
333.000
1879
5
500
M. & N.
•
2
ö
Nòv.
1,1884
City Cemetery stock...........................................
75,000
1869
7
100
M. & N.
A
co
Aug. 1, 1888
- City improvement stock.......; .......... .............
7,977,515 5, 6 & 7 M. & N.
1869 to ’78
500
Nov.1,1889 & ’92
.
do
ao (cons., $687,803 red.affc.’96) 1876 to ’80
701,419 5 & 6 M. & N.
500
<bi3
1900 & 1926
+3Ä
City impr. stock (cons, st’k), cp., exch.for reg.
820.000
1874
500
6 g- M. & N.
Nov. 1, 1896
City Lunatic Asylum stock............................... 1869 to ’70
700.000
6 & 7 M. & N.
100
®2
Aug. 1,1889
City parks improvement fund stock................ 1871 to ’80
4.799.000
5, 6, & 7 M. & N.
500
1901-1904
M'S
Consolidated stock, county, coup., ex. for reg. 1871 & ’72
8.885.500
500
6 g. J. & J.
July 1,1901
do
city,
do
4.252.500
6 g. J.
1871 & ’72
500
J.
July
1,1901
do
dock bonds
do
1, 000,000
1871
500
6 g- J. & J.
July 1, laO l
do
citypks. impr. fd. st’k, do
862.000
1872
500
6 g- J. & J.
Jan.
1,1902
do
red. aft. 1908,cp.,ex.for rg
6.900.000
500
1878
fcd ®
M. & N.
Nov. 1,1928
do
city, coup., exch. for reg. 1874-’75
1.564.000
500
M. & N.
Nov. 1, 1896
fi .->
do
- city, (A )..................... ....- 1872 to ’ 74
2.455.000
500
6 & 7 M. & N.
Nov.
1,1894
g
«
:■ do
county (A & B ) ...............
1.630.200
1874
7
500
J. & D.
Deo.
1, 1896
o ®
do
city (B & C ).............. . . . .
6,324,700
1874
500
7
J. & D.
Dee.
1,1896
do
city (D E & F ). ............... 18761,858,349
’77 500
5 & 6 M. & N. j
May
1.1916
&’26
do
city (G K Life M) ............ 1877 to ’83
4 & 6 M. & N.
500
Nov. 1,’89,’97.’99
do
city............................. .......
2,800,000
1880
4
500
M. & N.
Nov.
1,
1910
¿1
•Department of Parks improvement bonds .
1 , 210,000
1879
5
500
M. & N.
Nov. 1, 1§84
Dock bonds..... ................................................. ... 1870 t o ’83
4, 5, 6&7 M. & N.
500
N ov.l,1901-1914
-F ir e telegraph bonds.......... ............ ! * ! !.” ! ! ” . 1870 to ’731
597,586
M. & N.
6
100
O
e
S
Nov.
1,1884 Fire Department stock.. . . - ........ .....................
521,953
6
M. & N
1869-’70
100
ao^
Nov. 1, 1899
Improvement bonds................. ........ . ” .**11
500.000
5
M. & N.
1879
500
Nov.
1.
1884
Market stock..................... .................
296.000
1867 to ’69
100
6 & 7 M. & N
3 g
May 1 ,1 8 9 1&’97
^Museums of Art and Natural History stock
N 958,000 4, 5 & 6 M. & N
1873 t o ’81
500
May
1,1903
N.Y.City.bds. forconst of bridgeov. HarlemR. 1879 to ’83
500
4 & 5 M. & N
Nov. 1,1891
gcs
N. Y.City bds. for State sinking fund deficiency
1,"1*69,848
1874
M. & N
7
100
May 1 ,1884-’88
9®
New Aqueduct stock..................... ......... ..
100.000
Q.—F.
1865 & ’66 . 100
6
®5
Aug. 1, 1884
N. Y. Bridge bonds ...................
...*"!
1,500,000
M. & N
1869 to ’75
6
100
Nov. 1, 1905
N.Y. ( Consol, stock, redeem, after ’96.*."....
500,000
6
M. & N
1876
500
May 1,1926
&r’ge< do $500000 r.af.’96,$1421900 af.1900 1876 t o ’80
'S
1,921,900
500
Q .-F .
May 1,1926
b ’ds. ( do $750000r. af. 1903, (?) after..1905 1880 to ’83
500
4 & 5 M. & N
May 1,1928
Ninth District Courthouse bonds.......... .
300.000
7
500
M. & N.
1871
c3
Nov. 1,1890
Normal school fund stock.......... .................
200.000
O CO
1871 & ’72
6
500
M. & N.
Nov.
1,1891
N.Y. <~io. Court.house st’ck. Nos. 1, 2, 3, 4 &*5*. 1862 to ’82
2,153,100 4,5,6 & 7 M. & N,
100
>Nov.
1,1 88 4 -9 8
New York County repairs to buildings stock.
100,000
6
500
M. & N
1870
Nov.
1,1884-’88
N.Y. and Westchester Co. improvement bonds
30.000
1871
500
6
M. & N
m
Dec. 1,1891
p.®
Public school building fund s tock .................... 1871 t o ’74
636.000
6
500
M. & N
Nov. 1,1891
Sewer repair stock..... ....................................... 1874 & ’ 75
103.000
500
M. & N.
6
Nov.
1,1885 &’86
Street improvement bonds..................... ! ! ! ! ! ” 1869 & ’ 70
606,900
6
M. & N
100
Nov.
1,1888
Soldiers’ boun ty fund bond s........... . . . . ” ! ” !!
6
3,500,000
1864
100
M. & N
Nov.
1, 1884-’90
do
do
No. 3 .......... . . . . . .
745.800
1865
7
100
M. & N
Nov.
1
,
1895-’97
Soldiers’ bounty fund red. bonds. No. 2
376.600
M. & N
1865
100
7
Nov. 1, 1891 .
• Tax relief bonds. No. 2, coup. exch. for reg'..".
1870
3,000.000
M. & N.
500
7
Nov.
1,
1890
Third District Court-house bonds...........
398.000
1874 t o ’77
5 & 6 M. & N,
500
Nov. 1,1890 *
Water stock of 1870 .................. ..................
1872
475.000
500
6 & 7 M. & N.
Nov.
1,
1902
Debt of annexed territy of Westchester Co” !
837,500
7
500
Various
1884 to 2147
Norfolk, Va.—Registered stock................
? 478,464
6
100
J. & J. Norfolk, Treasurer’s Office,
1883 t o ’85
Goupon bonds i$20,000 6s are J. & J.)...
6
500.600
1870-’74
100
J. & J.
do
do
’90-’9 4 -’9 9 ,1900
Coupon bonds o f 1881 (exem pt)........
320.000
5
1881
A. & O.
do
do
April
1.1911
Trust and paving, coup........................ ......... .
290.800
Too
8
1872-’73
A. & O.
do
do
Api.,’92; July, ’93
Coupon bds, water (a mort. on water works.).
500.000
1871
8
M. & N. New York, Park N. Bank.
100
May,
1901
Norwich,, Gorin.—City bonds........
160.000
5
1877
A. & O.
1,000
Norwich,
April 1, 1907
Water loan ($50,000 1890, $250,000*,*i898j ” " ’68,’78,’80 1,000
300.000 5, 6 & 7 Various
do
1898,1908
&1910
Court House................ ......... .............................
164.000
7
1875
1,000
J. & J.
do
Jan. 1, 1905
Sinking fund bonds............. ” ............................
50.000
5
1878
1,000
A. & O.
do
A
p
r
ili,
1908
Funding i0 -3 0 s........................................ ” ! ” .
125.000
4
1883
1913
Paterson, N. J.—School bonds................ . ........ 1859-’ 73
92,500
7
*500
J. & D. City Hall, by Treasurer,
Dec.,
1883-1904
-Funded debt bonds.............................. .
7
110.000
500
1862- ’71
J. & D.
do
do
Dec., 1883-1900
| Sewer b ’ds ($125,000 are M.& S. & $i*6,000 5s) 1869-’8l
417.000 5, 6, 7 Various
500
do
do
1883-1902
War bounty bonds.............................................
7
J. & D.
353.000
1863’65 500
do
do
Dec.,
1879-1900
Funding bonds, “ A” ...................... ” ! ! ” ! ” ! ” ]
6
100.000
100 <&c
. 1877
7. & D.
do
do
June,
1887
; Renewal bonds, •‘B” and “ C” ', . / . ! ” " ! !
6
110,000
* 500
1877-’78
Variou.tr
do
do
1901-1905
bonds, $147,743; street improvement and sewerage, $54,154, and ation, 1881, $29,607.999; rate in 1881, $14 00 per $1,000. Valuation
assessments, $1,469,952. The Aqueduct bonds are not a direct lia- in 1882, $29,409,328; tax rate, $14 20. Population, 16,994 in 1830;
Dility o± the City ot Newark* Real and personal property liave been 12,825*in 1870.
assessed at near the true value as follow s; 1881, real estate, $66 278 New York City.—The total debt of New York, Jan’y 1, 1883. was
¡ personal, $18,974,770; tax rate, $2 10; 1882, real estate, $67,’the amount of sinking funds, $34,332,388. The follow­
463,555; personal, $17,989,370; tax rate, $2 44. Population in 1870, $130,474,337;
ing
statement shows the details of funded debt and the amount in the
105,059, against 136,508 m 1880. (Y. 34, p. 489.)
city
sinking
fund
at the dates named:
New Bedford, Mass.—Population, 26,845 in 1880; 21,320 in 1870
Description.
Jan. 1,1881.
Jan. 1,1882.
J a n .l, 1883.
Assessed valuations (true value), rate of tax, &c., have been:
Total funded d e b t.......$133,535,019
$134.400,507
$130,474,337
Personal Rate of Tax Total Debt,
Trust
Sinking
fund.
............
32,993,024
36,110,301
34,332,388
Years. Real Estate.
Property, per $1.000.
Bonds.
Funds.
1 8 7 9..
.. $12,898,300
$12,874,418
$16 40
$1,123,000 $104,100
Net funded d ebt... $100,541,995
$98,290,206
$96,141,948
1 8 8 0 ..
.. 13,138,40013,137,519
15 70
1,059,000 104,100 Revenue bonds............
5,524,245
4,328,095
4,246,534
1 8 8 1 ..
.. 13,505,40013,609,922
18 00
1,084,000 104,100
1 8 8 2 ..
.. 14,138,300 13,974,587
17 50
1,024,000 104,100
Total deb t............. $106,066,240
$102,618,301
$100,388,482
New
Haven,
Gonn.. , ,
^ ;¥ ? IJJ:clPal bond fund, $37,011. The city made a
The population of New York, by the United States censusTin 1870 was
special loan of $75,000 to the New Haven & Derby Railroad, and guarand 1,206,299 in 1880. Since Jan; 1,1865, the valuation, rata
^nteed $2-5,000 of its second mortgage bonds. Population in 1870 942,292,
have been as follow s:
DO,840; m 1880, 62,882. Assessed valuations (about 80 per cent of true of taxation, and net funded debt at end of year,
/—Rate Tax p.
value), tax rate, &»., have beenReal
Personal
$1,000- n
Net Debt.*
Personal
Rate of Tax
Total
Sinking
Years.
Estate.
Estate.
State. City.
Dec. 31.
Years. Real Estate.
Property.
per $1,000.
Debt.
Funds, &c. 1865..........$427,360,884 $181,423,471 $4 96 $24 94
$35,973.597
1879.. $34,922,157
12,130,874
9 mills.
$874,000 $156,450 1871
769,302,250
306,947,233
4
43
17
27
88,369,386
1880.. 34.797,569
9
«
13,097,158
854.000
176,392 1872
797,148,665
306,949,422
5 20 23 81
95,467,154
1881.. 32,966,440
13,639,376
10
774.000
169,214 1873
836,693,380
292,597,643
5 33 19 67
107,023,471
New Orleans.—A decision of Louisiana Supreme Court, Dec., 1878 1874t........ 881,547,995
272,481,181
6
65
21
35
'114,979,970
held invalid the special tax provisions for consolidated bonds, but on 1875
883,643,545
217,300,154
7 27 22 13
116,773,721
appeal to U. S. Supreme Court this was reversed April. 1882. In June 1876
892,428,165 218,626,178
6 51 21 49
119,811,310
1882, a law was passed to issue new 6 per cent 40-vear bonds for all 1877
895,963,933
?£S’2o£’162
3 78 22 72
117,700.742
old bonds other than premiums, redeemable after 1895. The assessed 1 8 7 8 ...... 900,855,700
197,532,075
3
56
21
94
113.418,403
valuation of property, real and personal, for 1882 is about $103,177.249. 1879
918,134,380
175,934,955
3 43 22 37
109,425,414
A scheme for settling the debt by a bond premium drawing planisiti 1880
942,571,690
201,3.94,037
3 12 22 18 106,066,240
practice, and drawings take place January 31, April 15, July 31, and 1881
976,735,199
209,212,899
3 60 22 60
102,618,301
October 15. On June 30,1883, the total bonded debt was $15,845,000 • 1882
1,935,203,000
J22’2?2’582
' 22 50— > 100,388,483
and total floating debt, $2,604,000. The uncollected taxes for 1878 1883
1,979,130,669
197,546,495 ................
and prior years, payable in scrip, were $1,336,948, and for 1879-82
* Less sinking funds.
t Annexed towns included.
ln «ask’ $903,000. Population in 1870, 191,418; in 1880!
- e reduction between the amount of taxation in the years 1874 and
216.090. (V.
<V. 34, p.
r> 9.09.
fin «658,
kq rrnj
*
° 1
216,090.
292;• V
Y. 91
35, T
p.. 50,
706, nao
763.), ’
1880
was
ab
>ut
$3,400,000._
There was, however, no substantial reduc­
Newton, Mass. Sinking funds, January 1,1383, $172,695, Tax 7alu- tion in the evpeme of administering
the City Government as reduo-




m

. . . . .

. . .

. . .

II

OITT SECURITIES.

October , 1883.J

13




_

.

S u b s c r ib e r s w ill confer a great favor b y g iv in g im m ed ia te ftotlce o f a n y error discovered In these T a bles^
INTEREST.
•Principal—When.
Size or
Date of
DESCRIPTION.
Due.
When
Where Payable and by
outstanding.
par
Bonds.
Rate.
Whom.
Pay’hle
Value.
For explanations see notes on first page of tables.
1883 t o ’85
& J. Philadelphia, by Treasurer,
5 &6
$50 &e. $4,054,566
Philadelphia—Bonds prior to consolidation . . . ,
& J.
do
do
6
50 <&c. , 1,725,000
1855
Bonds for railroad s.tock subsidy subscript ns
1883 to 190»
& J.
do
do
6
6,500,000
1855 t o ’71 50 <fec.
do for water works.......... • .......... .
& J.
do
do
6
4,853,500
t o ’70 50 «fee.
do for bridges.. ............... - - - - ■- ................ 1859
do
do
6
8,701,600
50
&c.
1868
t
o
’70
do for park and. Centennial............- .......
1883 to 1905
do
do
6
1862 to 65 50 <fec. 11,650,000
do for war and bounty p u rp o s e s ........ 1860
, do
do
6
t o ’ 70 50 &c. 15,637,425
do municipal, school, sewer, &c.............
1883
to 1905
do
do
6
5,999,400
50 <fec.
Guaranteed debt, gas loans. - - - - -..................
1883 to 1904
do
do
4
8,084,485
25 <fec.
,1879
Four per cent loan (“ A” to “ Y ” ) ........ . . . . .
1886
to.1890
Various
N.
Y.,
Amer.
Exch.Nat.
Bk.
7
81,500
Peoria, Ills.—School loan...............- ...................
Mar. 1 , 1902&’0 »
do
do
4^3 M. & N.
42,000
....
War lo a n . . . . . . ................................. .
June
1,1888
do
do
J.
&
D.
195,000
Water loan.
.......... $ — - - • — - - — fcf
1889-1891
do
do
205,000 "t ,6g.&7g Various
do
......................
July
1,
1888
New
York.
J.
&
J.
7
100,000
Peoria & Rock Island Railroad........... ..........
1893 to ’98
,
Pittsburg, Treasurer,
A. & O.
7
4,282,500
Pitlsburff—Water exten. loan (coup, or reg.). . 1868 t o ’74
1908
do
do
J. & J.
6
300,000
1878
Water loan, reg...................
- *•— - .......
1884
to
1912
Pittsburg,
Phila.
&
N.
Y.
Various
6
&
7
1,281,000
Funded debt and other municipal bonds.... 1845 to ’72
1913
4 & 5 J. & J. New York, B’k of America.
2,178,600
1863
Compromise railroad bonds (coup, and reg*)
1883 to ’86
Philadelphia.
Various
7
• 5,050,700
Bonds impr. Penn, av., &c. (local assessment). 1871 t o ’73
1884
1,405,000
1879
Bonds for overdue interest (temporary loan).
M.’ & N. Boston, Blackstone N. B’k. Nov. ,1886,’87,’8
’ 6*
787,000
Portland, Me.—Loan to Atl. & St. Lawrence RR. ’68,’69,’70 1,000
July, 1887
do
do
J. & J.
6
627,500
500
<fec.
1867
t
o
’
69
Loan to Portland & Rochester Railroad
July 1, 1897
do
do
J.
& J.
6
416,000
1872
do
do
do
Sept.
1,1907
do
do
M. & S.
6
1,200,000
1872
do Portland & Ogdensburg.............
1883 to ’95
Boston and Portland,
5 & 6 m’nthly
1,193,500
Municipal—proper, ($15,000 are.5s due ’ 83).. 1859-79 500 &c.
June
1,1887
do
J. & D,
6
325,000
1,000
1867
Building loan bonds..................................
Sept., 1885
Providence.
M. & S
6
600,000
lOOO&c.
1855
Jan., 1893
do
& J
5
300,000
1000&C.
1863
Recruiting and bounty bonds.------July, 1900
& J. Boston, Prov. and London.
2,121,000 5 & 6 g .
lOOO&c.
1872
Water loan bonds, gold, coupon—
July, 1900
N. Y., N. City Bank, &Prov.
&
J.
5
&
6
g.
1,879,000
lOOO&c.
1874
do
do
registered,
July 1,1906 do
do
& J.
1,500,000
5 g.
lOOO&c.
1876
do
do
do
.
July 1,1895
& J. London, Morton, Rose & Co
1,397.250
5 g.
£100
1875
June 1,1899
Providence,
& D.
600,000
4*2
lOOO&c.
1879
do
loan of 1879.............. .........
July 1 ,’99 & 1900
do
5
596,000
Large.
1879
Public improvement loan, registered........ .
1892
do
J. & J.
7
500,000
1,000
1872
Prov. & Springfield RR. bonds, guaranteed..
Sept. 1 , 1883-’ 84
Treasury.
M. & S.
5
280,000
1,000
1877
Brook Street District certificates...................
May
1.
1885-’86Boston
and
Providence.
280,000
4^2 M. & N.
1,000
1879
do
do
do
coupon.......
18 8 3 ’89
do
do
Various
4>2
99.438
New High School Building certificates.......... 1877 & ’79
J.&
J.,
1883-1914,
Richmond,
Treasurer,
J. & J.
6
2,910,908
Richmond, Va —Bonds* reg. ,($118,000 are coup.
1886&1904-1909'
do
do
J. & J.
8
1,214,700
Bonds, reg. and coup. ($213,500 are coup.)..
July 1914-’ 15
do
do
J. & J.
5
652,300
New fives........ ............... . - ...................- — •••
.
1883 to 1903
N.
Y
.,
Union
Trust
Co.
J.
&
J.
7
148,000
1,000
1872
Rochester, N, Y.—'To Genesee Valley Railroad .
Feb, 1,1893
F. & A. New York and Rochester,
7
750,000
To Roch. & State L. and R. N. & P. Railroads. 1872 t o ’ 74 lOOO&c.
1884 to 1902.
do
do
t
Various
7
765,000
For various city improvements... . .".— . — 1872 t o ’75 Various
Jan. 1,1903.
N. Y., Union Trust Co.
7
J. & J.
3,182,000
Water works loan, coupon and registered---- 1873 t o ’ 76 lOOO&c.
Jan. 1,1905
do
do
J.
&
J.
7
410,000
1,000
1875
Funding loan.....................................................
Aug.
1,1912
do
do
F. & A.
4
100,000
5.000
1882
Consol lo a n .......................................................
1884
to 1911
City
Treasury.
Semi-an
4
&
5
404,700
50 &c.
Rockland, Me.—Municipal bonds.......................
1882 to 1899
Boston.
J. & J.
6
174,000
100 &e.
1869
Railroad loan ($20,000 payable yearly). . . . .
1891
>
do
F
&
A.
6
111,500
100 &c.
1871
do
...................... - ......................... -1902'
do
M. & S.
6
124,300
100 &c.
1872
.... ........ .
— v .....................
do
On call.
City Treasury.
(?)
ç 65 & 4
Notes and certificates of deposits..................
1882 to ’91 .
N.
Y.,
Nat.
Bank
Republic
Various
6
1,688,000
Various
St. Louis—Renewal and floating debt bonds... 1846 t o ’71
1882 to 1906
do
do
Various
6
1,104,000
Real estate, buildings and general purposes, 1840 t o ’68 Various
1886 & ’ 87;
do
do
Various
6
60,000Street improvement bonds............................... 1855 t o ’57 Various
1882 t o ’ 83
do
do
Various
6
127,000
1856 to ’58 Various
Water work bonds (old)............. ............ .
Aug., .1898
do
do
F.
&
A.
6
g.
346,000
1,000
1868
Tower Grove Park bonds (gold)......................
1887
to ’95
do
do
1,108,000
6 g. Various
1,000
Various
Sewer bonds.......................... ............................
1886 t o ’ 88
do
do
Various
6
641,000
Harbor and wharf bonds....... ............ ......... - • 1852 to ’68 Various
Feb.
1,1885
'
N.
Y.,
Nat.
B’k
Commerce.
F. & A.
7
700,000
1865
Bonds to Pacific R ailroad............................ 6 g. J. & D. New York and St. Louis. June, 1887, & 9 0
3,950,000
New water work bonds (gold).......................... 1867 t o ’70 1,000
April
1,1892
1,250,000
6 g. A. & O. N. Y., Nat. B’k Commerce.
1,000
^1872
do
do
do .................... .
July 1, 1894
6 g. M. & N.
800.000
do
do do ................. |—
1891 to ’94
New York or London,
681,000
6 g. Various
1,000
1871
t
o
’73
Renewal and sewer bonds (gold)....... ............
Nov. 1, 1893
do
do
M.
&
N.
1,074,000
6
g.
1,000
£ 1873
Renewal purposes, gold or sterling................
May
1, 1895
do
do
707,000
6 g. M. & N.
1,000
1875
Renewal, &c., bonds, gold, $ and &................
1894 & 1899
do
do
6 g. J. & J.
2,747,000
1,000
1874-’79
Renewal, &c., bonds,gold $ and &, coupon..
Jan.
&
June,
1909
do
do
5 g. Various
1,024,000
1,000
1880
6 g. J. & D. . Y., Nat. B’k Commerce. Dec. 10,1892
461,000
500
1872
Bridge approach bonds (gold). — . —
St. Louis County bonds assumed—
July 1,1887
J. & J. N. Y., Nat. Bk. Commerce
7
100,000
1,000
1867
Insane A sylum ................................s—
Sept. 1,1888
do
do
M. & S.
7
500,000
1,000
1868
County Jail................ . . . . . ....................
June, 1892
do
do
J.
&
D.
600,000
6 g.
1.000
1872
General purposes, gold..........................
1889 to 1896
do
do
J.
&
J.
7
&
6
g.
850,000
1,000
1873 t o ’76
R enew al............................................... . —
April
1,1905
do
do
A.
&
O.
1,900,000
6 g*
1,000
1875
Park bonds, coupon, gold....................
May 1, 1895
do
do
6 g. M. & N
500,000
1,000
1875
County bonds........... ............................
1880
to ’89
N.
Y.,
Nat.
B’k
Commerce.
Various
6&7
133,850
500
81. Josepn. Mo.—Bonds to St. Jo. &Den City RR 1860 to ’69
Nov., 1889
do
do
M. & N,
7
67,500
500
1869
Bonds t< Missouri Yalley Railroad........
1880
t o ’ 89
St.
Joseph
and
New
York.
156,700 10 & 6 Various
1858 t o ’69 100 &c.
Bonds f< r various purposes.....................
1891
J. & J. N. Y., Nat. B’k Commerce.
10
536,250
500
1871
Bridge b onds........................... .
1901
do
do
F. & A
4
928,800
50 &c.
1881
New Qompromise bonds (60 per cent) ...
1906 to 1912
Various N. Y., Kountze Brothers,
4
1,000 . 431,000 1
1881-82
St. Pam, Minn.—Bonds.. .*........................a
1887 to 1911
do
do
Various
5
291,600
1
1.000
1867
td*83
Bonds............................... .................... ....
1888 to 1904
do
do
Various
6
1
468,000
1
1868-’78-’9 500 &c.
do ..........................................................
1883 to 1903
do
do
Various
7
371,595 1
1862 t o ’78 Various 1
do .......................... - ..............................
1899
to 19t>4
do
do
¡Various
8
1
263,125
1860 t o ’79 Various
do ........ .................................................
■ ■ ¡ ■ I .„..rations of property for 1883 are: Full city property,
tion in State taxes was about equal to reduction in tax levy. (V. 33, p- ¡$516,984,183;
suburban property, $35,447,307; farm property, ,$19,- <
40, 244; V.-25, p. 51; V. 35, p. 265; V. 36, p. 590; V. 37, p. 23.)
051,765; all the personal being classified with the full city property.
Norfolk, Fa.—The assessed valuations and tax rate per $1,000have been: Tax rate, $18 50. Population, 1870, 674,022, against 847,170 in 1880.
Years.
Real Estate.
Personalty. Tax Rate.
Peoria, III.—Total debt, $673,500 in 18$2. Population, 29,259 in
$1,497,130
$8,689,716
1879
1880; 22,849 in 1870; in 1883 (estimated), 40,000._
19
1,463 498
1880
............
8,861,392
Pittshuro.—Assessed valuation in 1880: Real property, $85,744,990 ;
20
1,310,861
1881
.............................
9,354,765
personal, only $2,516,540. Tax rate, 1880, 20-4 mills per $1. Popu­
1,627,855
1882
.................
9,526,466
lation, 156,389 in 1880; 86,076 in 1870.
—Population in 1870, 19,229 ; in 1880, 21,966.
Norwich, Conn.—The assessed valuations, tax rate, &c., h avelieen:
Portland, Me.—The sinking fund and available assets March 31,1883,
Real
Personal
Rate of were $155,856. The eityis protected by mortgages on Atlantic & 8t.-/
Years.
Estate.
• Property.
Tax.
Lawrence and Portland & Ogdensburg railroads. Population in 1879,
1880 . . . . . ...........................$7,438,097
$2,976,028
8mills. 35,010, against 31,413 in 1870, and 26,341 in 1860. Population in
18S1
7,382,834
2,872,566
10 “
1880, 33,810; 1870, 31,413. The assessed valuations, tax rate, &c.,
1882”
7,362,364
2,762,931
10
have been:
g
w
1883’. ..............
7,392,767
2,658,058
9 “
Real
Personal Rate of Tax Total
Sinking
Years.
Estate.
Property, per $1,000.
Debt- Funds, (fee.*
—Sinking fund, May, 1883, $33,778; population, 21,145 in 1880; 16,187980 .. $19,825,800$10,359,128 $25 00 $5,235,600 $225,710
653 in 1870. j
8 1 .. 19,777,20011,376,456
25 50
4,688,100
92,356
Paterson, N. J —Finances are apparently in a sound condition. The 188018818 2 .. 19,886,30011,609,585
23 50
4,620,500
40,161
assessed valuations, tax rate per $1,000, &c., have been:
18823
,...
,
20,288,300
12,354,455
21
5
0
4,545,500
51,869
Debt.
Years.
Real Estate.
Personalty. Tax Rate.
* These do not include the sinking funds for railroad loans.
$1,275,000
........... $15,923,108
$3,246,501
2*4
1879
Providence, R. J.—The principal debt of Providence has been created
1.259.500
1880
........... 16*398,608
3,544,517
2%
since 1872 for water works, sewerage, new City Hall and Brook Street
1,264,000
1881
.................. .................. 16,935,2783,637,837
2*4
1.251.500 Improvement. The sinking fund for bonds due m 1885. $676,021 1893,.
1882
......... 17,746,040
3,768,240
2-30
1.217.500 $255,420; 1895-99, $390,274; 1899-1900, $51,753; 1900-6, $125,416 ;
1 8 8 3 .................... 18,506,048
3,856,635
2-28
Brook Street district, $75,465. Population, 1870, 68,904; 1880,104,8o7.
—Population, 51,031 in 1880; 33,579 in,1870.
Philadelphia.—On Jan. 1, 1883, the debt was $67,468,316; floating The laws of Rhode Island now limit the debts of towns to 3 per ct. of their
debt, $454,576. In the following table the assessed value of real estate ,assessed.valuation. Ass’d valuations (true value), tax rate, <fcc., have been:
Real
Personal
Tax per
Total
Assets in Sink.
is near its cash value:
Estate.
Property.
$1,000.
Debt.
Funds, &c
Years.
Real Estate.
Personalty. Tax Rate. Years.
1878............................
$577,548,328
$9,439,769
$21 50 1878 ... $86,341,100 $30,699.400 $14 50 $10;590,550 $1,292,697
86,816,100 28,765,600 14 00 10,475,550 .1,237,008
18 7 9....................................... 526,539,972
8,069,892
20 50 1879
27,908,900 13 50 10,202,688
1,359,142
1880
...........
529,169,382
7,498,452
20 00 1880 . 88,012,100
28,413,800 14 00 10,100,599
1,397,558
1881
.
535.805,744
7,863,385
19 50 1 8 8 1 ... 87,788,000
88,987,900
30,208,300 14 50 10,077,099
1,597,280
1882
............................... 545,608,579
8,795,700
19 00 1882
—State
valuation,
$168,547,726
city,
$119,196,200.
1883
.......................
554,624,115
9,884,578

14

CITY

SECURITIES.

[V ol . X X X V II.

J^nbwerlbcrs w ill confer a great favor by giv in g Im m ediate notice o f any error discovered in these Tables
Date of
Bonds.

. Salem, Mass.—City d e b t .................
Various.
Citydebt
...................... . . ___ ...................
1871
Walter loan.................. .
1868-9
do
. . . . . . i..'................ . . I . " . " " . * .........
1878
San Francisco— Bonds of 1858, coupon (goid)
1858
Judgment bonds, coupon (gold)......... ............ 1863 t o ’64
Central Pacific Railroad, coupon (gold)
1864
Western Pacific Railroad,
dio do
1865
-Judgment bonds,
do
do
1867
School b o n d s ............................
1870
School bonds............................. " ™ ............
1874
Park improvement bonds........ I ...................... 1872 t o ’75
Hospital bonds............ - ................................... 1871 t o ’73
House of Correction bonds.. . . . ’. . 7 ' " " I" ' ’ ”
1874
C ity Hall construction.............
1875 t o ’76
Montgomery Ave (special tax) .7 .7 1
1873-74
Dupont St. (special) (Act March 4,1876)
1876
Savannah,, Ga.r-N ew compromise bonds
1879
Somerville, Mass.—City debt. .................... .
Water loan...................................... ;7 _ 7 7 7 "
Springfield, Mass.—City notes........ 7.7 7.7 7
, City bonds.......... ...................... ..........
Water loan ($200,000 are 6 per cents) 7 7 .7 7
Railroad loan...................................................
Toledo, O.—General fund city bonds, coup.!
Various.
Toledo & Woodville Railroad, coupon.. . . .
1870
Water works ($3,000 oiily 6s)........................
’73,’74&79
Short bonds, chargeable on snecial assessm’ ts. Various.
Municipal bonds............................... . . . . . ...
Various.
Worcester, M.—City, ($531,000 c., $1,437,400 r.j 1861 to ’81
Sewer debt (all registered).............................. 1870 to ’81
Water debt ($80,000 coup., $279,300 rev.) . ’ 1870 to ’76
Bonds........ ............... .......... . . . . . . . . .
1883

Size or Amount
par
outstanding
Value

$ 100<fcc.
1,000
100 &c.
1,000
500 &c.
500 &c.
500 &c.
500 &c.
500 &e.
500 &c.
500 &c.
500 &c.
500 &c.
500 &c.
500 &c.
100 &c.
Various.
Large.
Large.
1,000
1,000
1,000

500 &c.
500 &c.
500 &c.

$154,500
300.000
500.000
398.500
290.000
435.500
284.000
165.000
246.000
285.000
200.000

475.000




210.000

150.000
611.000
1.579.000
919.000
7
3,356,800
5
1.250.000
335.000 513, 6,6i2
138.000 412, 6
157^000
6
1.200.000
6& 7
220.000
7 .
772.000 412 to 8
432.000
7-3
1,000,000
6& 8
346,200 7 & 8
400.000
6&8
1,968,400 4, 5 & 6
325.000 4,’4 iß, 5
459,300
5&6
70,000
4

Rochester.—Total debt funded, $5,355,000 Jan., 1883. The bonds of
■Genesee Valley RR. loan, $148,000, are provided for by net receipts
from a lease of said road to Erie Railway. Population, 89,366 in 1880;
02,386 in 1870: in 1882, estimated, 105,000. Assessed valuation (60
per ct. of true value), rate of tax, &c., have been:
Real
Personal
Tax per $1,000
Total
Years.
Estate.
Property.
in old Wards.
Debt.
1 8 7 8 ...,. $42,658,350
$1,706,300
19-64
$5,471,686
1 8 7 9...S 37,299,400
1,584,940 ,
21-79533
5,446,186
1 8 8 0 ... . 34.408,725
1,430,144
23-86
5,382,950
1 8 8 1..... 34,596,225
1,291,320
24-67
1 8 8 2 ... .. 34,849,975
1,202,395
28-61
| 5,355,000
Richmond, Fa.—Real estate assessed, 1882, $28,946,828: personal
$12,689,534. Tax rate, $140. 1883, real, $29,240,022; personal, $12,628,267. Population, 63,600 in 1880; 51,038 in ’70
Rockland, M e—Valuation of real and personal estate, 1882, "$3,526,•471. Tax rate, $24 per $1,000. Population, 7,599 in 1881: 7,074 in
1870.
^
St. Joseph. .Mb.—Population in 1880, 32.431; in 1870, 19,565 As­
sessed valuation of real estate, 1880, $5,723,784. Personalty, *3,294,451; total $9,018,235. Rate of tax, 1880, 321a mills. In 1882 total
assessed valuation was $12,000,000. In above statement of bonds the
amounts gjven include accrued interest to April 1, 1883. A compromise
of the debt was made in new 4 per cent bonds, which are given for the
fullprincipal and interest of old bonds, and interest is pad on these onlv.
—(V. 32, p. 659.)
„
is.—Population by the United States census in 1870 was
310,864, against 350,518 in 1880. The city and county were merged
b y law in 1877 and city assumed the county bonds. The Comptroller
gives the following in his report to April, 1882 : The liabilities appear as
ralip’w8 '•The bonded debt at the close of fiscal year (April 10, 1882) is
$22,417,000. A claim of the St. Louis Gaslight Company for gas furtushed. amounting in all to about $882,000, with interest to March 31,
1852, was decided against the city in 1880, but appealed. Assessed valu­
ation of property and tax rate have been:
Real Estate -Rate of tax per $1,000.and Personal
New
Old
Bonded
Yéars.
Property.
Limits.
Limits.
Debt.
............... $164,399,470
1879
$5 00
$17 50
$22,614,000
1880
..................160,634,840
5 00
17 50
22.507.000
1881
.............. 167,336,600
5 00
17 50
22.417.000
1882 $......................... 191,720,500
5 00
17 50
22,311*000
St. Paul, Minn.—Population in 1870 was 22,300; in 1880, 41 498in 1883 the local estimate of population is 90,000. Assessed valuations
o f taxable property and tax rate have been :
Personal Rate of Tax
Total
Sinking
Years. Real Estate.
Property.
per $1,000.
Debt.
Funds, &c.
1 8 7 6 ..
.. $18,835,525
$6,340,493
22 mills. $1,332,500 $551,755
1 8 7 7 ..
.. 18,993,5455,452,871
18 “
1,327,200
567,642
1 8 7 8 ..
.. 17,300,4865,491,026
13 “
1,356,444
616,000
1 8 7 9..
.. 17,300,7665,942.503
15 I
1,519,310
656,000
1 8 8 2 ..
.. 30,000,00010, 000,000
21
1,959,910
Valuation of real estate is about one-third of true value.

Rate.

INTEREST.
When
Where Payable, and by
Päy’ble
Whom.

Principal—When
Due.

Various
City Treasury. '
1883 to 1892
J. & J. Boston, Merchants’ Bank,
Jah. 1, 1891
A. & O.
do
do
Api. 1,1883-1898
J. & J.
do
do
July 1,1904
J.*& J.
Jan. 1, 1888
A. & O.
do
do
Oct. 1, 1883
J. & J.
do
do
July 1, 1894
Hf. & N.
do
dò
M a y l, 1895
A. <fc O.
do
do
Oct. 1, 1887
J. & D.
do
do
June 1,1882 to ’90
J & J.
do
do
July 1, 1894
J. & J.
do
do
1897 & 1904
M. & N.
do
do
Nov. 1, 1891
J. & J.
do
do
July 1, 1894
do
do
1899
J. & J. San.F.& N.Y.,Laidlaw& Co.
“
Ì896
Q—F. N. Y., Eugene Kelly & Co.
Feb. 1, 1909
Various Boston, Nat. Security Bank
1882 to 1896
Various
dp
do
1880 to 1906
Various
City Treasury.
1883
to 1889
Various Boston, First National B’k.
1883-1890
A. & O.
do
do
Api.
1
,’94,
to 1905
A. & O.
do
do
1883 to 1893
Various N. Y., Imp. & Trad. N. Bk.
1883
to
1909
M. & N.
do
do
May, 1900
Various
do
do
1893, ’94 & ’99
Various *
do
do
1883 to ’87
Various
1883 to 1892
Various C.Treas.&Bostl Mchts.’ Bk.
1883 t o 1906
Various
' do
do
1899 to 1905
Various
do
do
1885 to 1906
A. & O. Boston and Worcester.
April 1, 1893

fund January 1, i 883iWas $-288,253. There
27 56Fin°iai 80 he\d by-sinking funds. Population,
rate $15 5080 ’ 24,117
187° ‘ Tax valuation, 1882, $25,528/242; tax
San Francisco.—Population, 233,959 in 1880; 149,473, in 1870 The
Montgomery Avenue and Duo ont-Street bonds are special issues charge­
able only on the assessment of property benefitted. The assessments lor
four years and tax rate (per $ 100) are given below. The largTincrease
m personalty m 1880-81 was m a d e fy the arbitrary assessment of
persons making no sworn statements of their property.
Renlty.
Personaltv.
Tax Rate
1
$190’280,810
$54,196,550
$2 24
166,429,845
51057 229
187980
1 99*3
279,287 738
1880-81 ...................... 165 023 658
2 21
1881- 8 2 . . . . . . . ......... . 155,834,879
66,M8,521
1 15
In 1881-82 valuation, and tax rate are for city and county only; State
rate *65^2 cents ^168’ 301’ 66^ real and $71,121,993 personal, L d t a l
Sinking funds raised annually amount to over $225,000, the amount
on hand June 30, 1882, being $1,020,212. (V. 34, p. 550 ; V. 36, p. 445.)
Savannah, Ga.—Default was made on interest Nov. 1, 1876, in conse­
quence of yellow fever and non-collection of taxes. The compromise,
as reported in V. 26, p. 625, gave new 5 per cent bondsfor the face of o il
bonds ; and for m te*st up to Feb. 1, 1879, 58 per cent of the face value
m similar bonds. Assessed value of real estate and tax rate each vear
baye been as follows: m 1879, $10,100,000, $25; 1880, $10.300 000
non5 «Rn 1’ | 10’ ^ ’000-’ ^ H ib 1882’ $10,650,000, $30; 1883, $10,900,1 ¿P°l,ulati°n m 1870, 28,235, against 30,709 in 1880 and
o7,ooo ill 1882.
t 'Somerville, Mass.—Total debt, January 1, 1883, $1,585,000; sinking
^ U ' ? 37^ 604-. P^Perty valuation in 1882, $23,162,200. Tax rate,
?1
$1^0.000 5s in $1,000 pieces, all bonds are in $2,000
to $50,000 pieces. Population, 24,933 in 1880; 14,685 in 1870.
Springfield, Mass.—Total debt, Jan., 1883, $1,744,769; cash assets
fi^4,97b. The railroad debt falls due $20,000 each year. Population in
18s2, 35,000; 18/0, 26,703. Tax valuation and rates have been:
Personal
Tax rate
Years.
Real Estate.
property.
per $1,000.
1878 .
$22,746,330
$6,637,845
$11 00
1879 .
22,211,230
7,230,094
12 00
1881 .
23,795,920
8,935,850
12 50
188
25,084,420
9,198,258
12 50
■Valuation of real estate! is about 67 per cent of true value.
Toledo.—Total debt, January, 1883, was $3,007,649. Of this the debt
payable by special assessments was $346,200, and the certificates of
indebtedness, $57,449. Taxable valuation of real estate, 1881, $19 597,530; personal, $6,315,940. Total valuation, $25,913,460. Tax
rate, $2 68 per $100. Valuation, 1882, $27,784,-¿50; rate, *21 50.
Population, 50,137 in 1880; 31,584 in 1870. (V. 30, p. 356.)
Worcester, Mass.—Total debt, January 1, 1883, $2,717.700! Cash
assets, $445,197, including $355,890 in sinking fund. Population.
08,291 m 1880, 41,105 in 1870. Tdx valuation, 1880, $41,005,112 • in
1881, $42,606,529; 1882, $45,504,512; tax rate, 1-74.
’
.

DESCRIPTION.
For explanations see notes on first page oi tables

O ctober , 1883.]

RAILROAD

STOCKS AKD

BONDS

1

5

Subscribers w ill confer a great favor by g iv in g im m ediate notice o f a n y error discovered in tliese T a bles.
Ronds—Princi­
INTEREST OR DIVIDENDS.
DESCRIPTION.
pal, When Due.
Miles D a te. Size, or
Amount Rate per When
Par
of
Stocks—Last
Where
Payable,
and
by
-For explanation of column headings, &c., see notes of
Road. Bonds Value. Outstanding Cent. Payable
Whom.
Dividend.
on first page of tables.

-Alabama V. 0. Texas & Pacific June.—Debentures..
■Ala. Gt. South’n .—1st mortgage, coupon.. .......... .
.Albany <6 Susquehanna—Stock..................................
1st mortgage................................................--------Albany City loan (sinking fund, 1 per ct. yearly).
•Consol, mort. (guar. D. & H. endorsed on bonds)..
General mortgage (Riv. Div.)............. ■...............- - •
Bonds to State Pa. (endorsed) 2d mort.. East ext.
■1st mort., East’n Extern, guar, by Pa. R R ............
Funding income bonds, with traffic guarantee—
. Amador Branch—1st mortgage............. ....................
.Asheville <£•Spartanburg—1st mortgage....................
Ashtabula JPittsburg —1st mortgage, coup, or reg..
Atchison Col. & Pacific—1st mort., guar................
Atchison Jewell Co. & \Vest.—1st M., guar. C.B.U. P.

233
296
209
142
142
142
142
259
132
110
110
259
27

62
229
34
1.820
1st mortgage, gold.................................................... 470
Land grant mortgage, g o l d ............. .......................
*Consol, bonds, gold...................................................
Bonds, gold (secured by mortgage bonds).............
-S. F. bonds for purchase of K. C. L. & S. K. stock.
■•^Sinking fund bonds (secured by mort. bds.)..........
«Sink, fund bds. (secured by deposit of mort. bds.)
27
"Wichita & Southwest., 1st M .,gold)
f
66
"Xans. City Top. & W. 1st M., gold f G
rental 1
do
do
income bds. f wiaraeT,T;aM
'Pueblo & Ark. Valley, 1st M.,gold J
(. 148

1882 £20, &c. $7,500,000
1,679,000
1878 $1,000
___
3,500,000
100
998,000
1863
1,000
1,000,000
1,000
1865
1,000 ' 1,653,000
1865
1,000
6,000,000
1876
2,166,500
50
1,000
Í8 66
4,000,000
2,700,000
1870 100,000
1,000 10,000,000
1871
8,760,700
1874 100 &c.
675.000
1,000
1877
500.000
1,000
1,500,000
1878
1,000
1879
4,072,000
1,000
542,000
1879
• 100 56,913,200
1869 500 &c.
7,041,000
2,915,500
1870 500 &c.
108,500
1,000
Í880
1,123,000
1,000
1880
3,669,000
1,000
1880
4,996,000
1,000
6,450,000
1881
1,000
1872
412,000
1,000
1875
854,000
200,000
1878
1,000
1875
1,633,000

A lab am a N ew Orleans T ex a s & Pacific J u n e. (L im ited ).—
T h is is an English corporation controlling the Vicksburg & Meridian,
3.42 miles; Vicksburg Shreveport & Pacific, 189 miles; N. O. & North
Eastern, 200 miles; and Spanish Fort Railway, near New Orleans, 13
■miles. It also controls the Cincinnati New Orleans & Texas Pacific
H allw ay Co. (lessee of the Cincinnati Southern Railway). The managevnent of the company is the same as that of the Alabama Great
^Southern RR. Length of (oads, 867 miles; add Ala. Great Southern RR.,
295 miles: entire system, 1,162 miles; of which, on Jan. 1,1883, there
s’emainedxo be finished about 250 miles. Road opened through Oct.,
1883. The preferred or “ A” shares are £1,500,000, having a preference
for 6 per cent dividends and cumulative, and the common, or “ B” shares
.£2,500,000; par value of all shares, £10 eaeh. The debentures are
redeemable any time at 115, on six months’ notice. The company holds
"the following securities, viz.: Cincinnati New Orleans & Texas Pacific
$1,532,000 stock; Vicksburg & Meridian, $245,000 1st. mortgage.
$105,000 2d mortgage, $416,500 3d mortgage, $1,464,300 preferred
«took and $363,000 common stock; of Vicksburg Shreveport & Pacific
$3,692,000 1st mort., $1,931,000 incomes and $1,594,000 stock; of N. O.
& North Eastern $4,900,000 1st mort. and $4,320,000 stock. (V. 35, p.
-515; V. 36, p. 169.)
A la b a m a Great Sou th ern .—Road owned from Wauhatchie,Tenn.,
"to Meridian, Miss., 290 miles; leased, Wauhatchie to Chattanooga, 6
m iles; total operated, 296 miles. The Alabama & Chattanooga Railroad
made default January 1,1871, and road was sold under foreclosure Jan.
'22,1877. Present company organized Nov. 30,1877, and is under the
.same control as the Ala. N. O. Tex. & Pacific Junction. The lands were
conveyed in full settlement to the holders of the $2,000,000 of Alabama
..State bonds. These lands (about 550,000 acres) are held by trustees.
(V. 30, p. 317.) Capital stock—conimon, $7,830,000, and preferred 6
per cent, $1,750,000; funded debt, $1,750,000, and receiver’s certifi­
cates, $178,000 (of which $134,000 in litigation) all Valid certificates
allowed, by U. 8. Court paid on presentation. Gross earnings in 1882,
.$863,418; net, $249,376. Gross in 1881, $789,376; net, $286,424. (V.
36, p. 5 8 9 .)
A lb a n y & S u sq u eh an n a.—Road owned from Albany, N. Y., to
Binghamton, N.Y., 142 miles; branches operated—Quaker Street, N. Y.,
Ao Schenectady, 14 miles; Cobleskill, N. Y., to Cherry Valley. 21 miles;
operates Lackawanna & Susquehanna Railroad, 22 miles; East Gienville to Coons, 10 miles ; total operated, 209. miles. Leased in perpetuity
from Feb.. 1870, to Delaware & Hudson Canal Co.; rental, 7 per cent
o n stock and interest on bonds. Additions and betterments charged to
lessors, and cost made part of investment. The Pennsylvania coal fields,
b y the joint use of the Jefferson RR., give a large coal traffic to the road
and to the other Delaware & Hudson leased roads, north from Albany
'.to the Canada line. The consolidated mortgage is for $10,000,000, of
which $3,000,000 are 7 per cents. In 1883 some counterfeits of the 2d
mortgage bonds of 1885 were found and it was proposed to take up all
that issue with consol, mortgage bonds. Gross earnings as reported to
State Engineer were in 188Ó-1, $1,840,049 ; net, $638,974 ; in 1881-2,
gross, $2,274,014; net, $853,844; surplus to lessee over all payments,
$85,032. (V. 36, p. 250, 535.)
A lleg h en y V a lle y .—Owns from Pittsburg, to Oil City, Pa., 132
'tniles; branches—Red Bank, Pa., to Driftwood, 110 m iles; others, 17
m iles ; total operated, 259 miles. The company became embarrassed
In 1874 and compromised with its creditors. It still falls short
-of earning interest liabilities. The amount of income bonds authorized
is $10,000,000 ; these receive all revenue left after interest on prior
-liens, and any deficiency is made up by additional issues. Of thè income
bonds the Pennsylvania RR., Northern Central and Philadelphia & Erie
hold $5,408,000, the interest on which is paid altogether in bond scrip ;
•the bonds held by individuals are paid in cash and scrip convertible
into income bonds. In 1882 the charges for mortgage interest and car
"trust payments were $1,143,987; income bonds, $583,414; total,
$1,727,402 ; deficit in net earnings, $840,798. The debt due to Pennsyl­
vania RR. is $3,539,305. (See annual report, V. 36, p. 622.) The earn­
ings, &c., for two years were as follows :
Years. Pass. Mileage. Freight Mileage. Gross Earnings. Net Earn’gs.
127,615,267“
$2,169,786
$904,672
1881.......17,292,869
1882..... 19,141,989
153,860,833
2,356,698
886,603
— (Y. 35, p. 404 ; V. 36, p. 399, 6 2 2 ; V. 37, p. 375.)
A m a d or B r a n c h .—Galt, Cal., to lone, Cal., 27 miles. Leased till
Mov. 1,1890, to Cent. Pacific ; rental $3,500 per month. Stock, $675,OOO. Leland Stanford, President, San Francisco.
A sh eville & Sp artan b u rg.—From Spartanburg, S. C., to Ashe­
ville, N. C., 67 miles, of which 49 miles, to Hendersonville, in operation.
Formerly Spartanburg & Asheville; sold in foreclosure April. 1881, and
reorganized. Stock $1,050,000. In 1883 the mortgage for $500,000
was made to build the 18 miles to Asheville. Controlled by Richmond &
Danville. Gross earnings in 1881-82, $39,721; net, $670. (V. 36, p. 453.)
A sh ta b u la & P ittsb u rg .—Owns from Youngstown, O., to Ashta­
bula Harbor, O., 62-6 miles. Organized as Ashtabula Youngstown <&
Pittsburg in 1870. Defaulted and property sold August 21, 1878.
Existing company organized Sept. 25,1878, and it is leased by Penn.
C o., which pays net earnings to A. & P. Tne common stock is $958,491
mnd preferred $700,000; par of shares, $50. Gross earnings in 1881,
$317,012; net, $123,888; 1882, gross, $343,185; net, $112,298.
A tc h iso n C olorado & P acific.—Waterville, Kan., to Lenora’




6
6 g.
3^
7
6
7
6 &7

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

&
&
&
&
&
&
&

O.
London.
April 1, 1907
J. N.Y., Farmers’ L. & T. Co Jan. 1, 1908
J. N. Y., B’k of Commerce. July 2, 1883
J. N.Y.,Del. &Hud.Can.Co
July, 1888
N.
do
do
Nov., 1895-’97
0.
do
do
Oct., 1885
O.
do
do
A p r ili, 1906

7-30
5
7
7
6

J. & J.
Jan’ary
A. & O.
A. & O.
J. & J.

N. Y., Winslow, L. & Co.
Harrisburg, Treasury.
Philadelphia or London
Pittsburg, Co.’s Office.
N.'Y., Cent. Pacific RR.

March 1,1896"
100,000 y ’rly.
April 1, 1910
Oct. 1. 1894
Jan. 1, 1907

6
6
6
Iks
7 g.
7 g.
7 g.
5 g.
5
4nj
67g.
7 g.
7*
7 g

F. & A.
Q .-F .
Q .-F .
Q .-F .
J. & J.
A. & O.
A. & O.
A. & O.
M. & S.
A. & O.
J. & D.
J. & J.
J. & J.
M. & S.
J. & J-.

Phil., Fid. I.T. & S.D.Co.
N. Y., Hanover N. Bk.
N.Y.,Un Pac. RR office.
Boston, at Office.
Boston, North Nat. Bk.
do
do
do
do
Boston, Boston Nat.B’k.
do
do
Bosfc. Safe Dep. & Tr. Co.
Boston.
Boston, North Nat. Bk.
do
do
Boston, Boston Nat.B’k.
Bost., N. Bk. of N. Am’a

Aug. 1, 1908
M a y l, 1905
May 1, 1905
Nov, 15. 1883
July, 1899
Mar. 1, 1900
1903
April 1, 1909
Sept. 1,1920
Oct. 1, 1920
Deo. 1, 1911
July 1, 1902
July 1, 1905
Mar. 1, 1906
July 1, 1905

Kan., 192 miles ; Greenleaf, Kan., to Washington, Kan., 7 miles ; Downs»
Kan., to Bull City, Kan., 23 miles ; Yuma, Kan., to Talmage, 29 miles ;
total, 252 miles. The road forms an extension of the Union Pacific Cen­
tral Branch, by which the bonds are guaranteed and the road is con­
trolled, and the whole system is virtually owned by Union Pacific, but
operated by Mo. Pacific. Stock, $1,526,800.
A tch iso n J e w e ll Co. & W e s t.—Jamestown, Kan., to Burr Oak,
Kan., 34 miles. Under same auspices and control as Atchison Colorado
& Pacific. Stock, $202,800, of which Union Paoific owns $105,000. .
A tch iso n Topelca & Santa F e . —L in e oe R oad : Main Line—
Atchison to Kansas State line, 471' miles. Owned jointly with Uniou
Pacific—Branch to Manhattan, 57 miles, and branch to Leavenworth,
46 miles. Leased—Various branch roads in Southern Kansas and to
Pleasant Hill, Mo , 468 miles ; Kan. State L. to S. Pueblo, Col., 149 miles;
Pueblo to Rockvale, Col., 37 miles; La Junta to N. Mex. State Line, 96
miles ; Colorado St. L. to San Marcial, N. M., 354 miles ; Lamy to Santa
Fe, 18 miles ; San Marcial to Deming, N. M., 128 miles ; Rincon to Texas
line, 58 miles ; coal roads, 15 miles ; Las Vegas Hot Springs road, 6
miles ; Texas line to El Paso, 20 ipiles; total leased, 1,319 miles. Total'
operated directly, 1,820 miles. The road owned jointly with the Uniou
Pac., 103 miles; the Kan. C. Law .& So. Kan., 398 miles, controlled; and
the Sonora system, 350 miles, controlled—are not embraced in the miles
operated. The total mileage controlled is 2,620 miles. The system is
complicated and could be much more clearly shown by the company’ s
map in this S upplem ent .
Org an ization , L eases ,- &c.—The A. T. & S.'Fe. Co. was incorporated
March 3,1883, and includes tbe Atchison & Topeka RR., incorporated
Feb. 11,1859. J The land grant was received by Act of Kansas Feb. 9,
1864., The main line of 471 miles'was opened Dec. 23, 1872. Tha
whole system, outside of the main line is nominally under different cor­
porations, of which the ownership is vested in the A. T. & S. F'., and the
roads also leased to that Co. and interest on the bonds usually paid as
rental. The Kansas C. Law. & So. Kan. and the Sonora systems are hot
leased, but are controlled by ownership of the stock. The A. T. & S. Fe
Co. has issued its own stock and bonds to purchase the stocks and bonds
of leased and auxiliary companies, and the balance sheet shows
$45,784,550 so invested. The fiscal year ends Dec. 31. The election ot
directors is held in April.
An agreement was made in Feb., 1880, with the St. L. & San Fran., fo r
the joint construction of aline to the Pacific, under name of Atlantic &
Pacific. See Atlantic <fePacific.
Sto ck and B onds —The stock has been increased rapidly to present
figures for thé acquisition of the auxiliary lines and by way of stock
dividends. Dividends have been—in 1879, 3 per cent; in 1880, 8*2 ; in.
1881, 6 cash and 50 stock ; in 1882, 6 ; in 1883, 6. The range in prices*
of stock was—in 1881, 92®15414; in 1882,'7878 ô>9î>18; in 1883 to last
Saturday, 78® SOkt.
The land grant bonds receive the proceeds of land sales in payment o f
interest and principal, and bonds are paid off accordingly. The A. T. &
S. F. bonds have in several cases been issued to build the leased lines,
and the mortgage bonds of those lines are deposited with trustees as
security. The 4*2 per cent bonds, due Oct., 1920, have the 6 per cent
mortgage bonds of the Rio Gr. Mex. & Pac. and the Rio Gr. & El Paso
roads as security, the sinking fund being l 1« per cent per annum rising
to 3*a pevcënt by 1910. The 6 per cent bonds, due Dec. l, 1911,haveas
security first mortgage bonds of thé following roads: Elk & Chatauqua
RR. 7s, New Mexico & Arizona RR. 6s, Man. Alma & Burlingame 6s,
Marion & McPherson 6s; and second mortgage bon Is-»New Mexico &
So. Pacific 6s, Marion & McPherson 6s; and are redeemable at 105 by
the sinking fund, which is 1 per cent per annum for 10 years and 2 per
cent thereafter. The 5 per cent bonds, due April I, ly09, are secured
by the N. Mex. & So. Pao. 1st mort. 7s. The 5 per ot. bonds, due Sept. 1,
1920, are secured by the K. City Top. & West. 1st mort, bonds and stock.
On other bonds the interest is paid as rental. Such bonds as are ' held in
the company’s treasury, or leased line bonds held as collateral for any
of its own bonds given above, are not included in the above amounts
outstanding. The Sonora RR. in Mexico (262 miles) 1st morfcg. bonds
are guaranteed. The Leavenworth Topeka & Southwest. RR. bonds at 4
per cent are guaranteed one-half by the At. Top. & S. Fe and one-half
by the Union Pacific.
L and G rant —The lands are in Kansas granted by Act of Congress
March 3, 186 1, and Kansas, Feb. 9, 18.14. Laud sales in 1832,189,830
acres for $393,$42, being an average of $1 71 per acre; but eauceled
prior sales of 86,373 acres for $172,055. Assets December 31,1882,
$1,561,092 contracts and 1,582,699 acres yet unsold.
O perations , F inances , &c.^-The A. T. & S. F. has been one of the
most successful of roads built into new territory, where a monopoly of
business has produced large net eirain/s. Tue connection with the
Atlantic & Pacific took effect for business in Oct., 1383, and the results
from that, as also from the connection with Mexican Central at El Paso
as that line is extended, remain to be seen. The annual report for 1882
said:
f
<r.;2S
“ The responsibilities assumed by the Atchison Co. on account of the
construction of the two divisions of the Atlantic & Pac. RR. are: 1st— •„
One-half the loan necessary to complete and equip the line. 2d—A
rebate of 25 per cent of Atchison earnings on business done by the Atch.
Co. going to or coming from the Atlantic & Pacific.” * * * “ Thé fol­
lowing is a brief summary of the entire Atchison property as it will be
when this report reaches the stockholders (Mardi, 1883)': A line of road,
reaching from three eastern termini on the Missouri River, Kansas City,

16

RATLRO.U)

STOCKS .VXD

BONDS.

\

(Vol. x x x m

Subscribers w ill confer a great favor by giv in g im m ediate notice erf any error discovered in tbese T ables.
DESCRIPTION.
Bonds—Prihci
INTEREST OR DIVIDENDS.
Miles Date Size, or
pal,WhenDue
Amount Rate per When
For explanation of column headings, &c., see notes of
par
of
Where Payable, and by Sto cks—Last
Outstanding
on first page of tables.
Road. Bonds Value.
Cent. Pay’bio
Whom.
Dividend.
Atch. Top. <£S.Fe—( Continued.)—
Pueblo & Ark. Val., 1st (& 2d on 148 m .).. 1 ® ( 134 1878 $ 1,000 $1,942,200
Kansas City Emporia &S., 1st m ort...___ - e 1,000
1879
- 532,000
Cow. Sum. & Ft. Scott, lstm prt..... ............(SjS I
1,000
1879
798,000
Marion & McPherson, 1st mort
Ih
1,000.
1879
713,000
Pleasant Hill & De Soto, 1st M., gold " ‘ § S I
•500
44 1877
120,000
Florence El Dorado & W., 1st /nort., gold J O I
31 1877- 1,000
310,000
Leavenworth Topeka & S. W.—1st mort., H guar.
1,000
50 1882
690.000
N. Mexico & So. Pac.—1st M., gold, guar, rental.. 295 1878
1,000
4,425,000
Sonora RR., 1st mort., gold, guar. ($20,000 p. m.) 262 .1880
1,000
4.307,000
Atlanta & Charlotte.—Stock (guar, by rental).......... 269
100
1,700,000
New pref. m o rt,........................................................ 265*3 1877
1,000
500,000
Mortgage bonds..... ....................
1,000
265*9 1877
4,250,000
500
Income bonds, registered (not cumulative)........
1880
750,000
Atlanta <£ West Point—Stock.......................................
100
87
1,232,200
Debenture certificates........ .......... ......."..
! ..
....
1881
1,232,200
Atlantic <&Pae. —1st mort. g.,W. D.(s.f.) $25,000 p.m. 566 1880 1000&C. 13,150,000
.
Income bds., non-cum’tive, ($18,750p.m.)...........
50 &c.
1880
8,287,000
1st RR. & land grant bonds on Central Division..
99 1871 500 &c.
1,189,500
1st land granjt bonds on Central Division.......... .
796,629
New 1st mort., road and lands,-Central D iv........
65 1882 l,ob’Ó&c
312,000
New.income bonds, Central Division............. .......
50 &c.
1882
78,000
Atlantic <£ St. Lawrence—Stock ($5,458,552 stg.).. Ì51
*100
5,484,000
.
1st mort, to City of Portland (sinking fu n d )........
787,000
2d mortgage, sterling, 5-20 y e a rs .........................
¿ iô o
150 1864
1,499,916
,3 d
do
do
do
......................... '. 150 1871
*100
712,932
Augusta & Savannah,—S to ck ...................................
100
53
733,700
___
Austin <£ Northwestern (Tex.)—1st mort................ i.
420,000
60
Bald Eagle Yatleij—Gen’l mort.,(s. f. $4,000 per yr.)
1,000
80 1880
392,000

Atchison and Leavenworth, to (1) the best portions of the eastern and
southern part of Kansas, in which State alone more than half its mileage
is located ; (2) to Pueblo, where for all time it will afford to the 1,200
miles of narrow gauge system of the Rio Grande road its shortest and,
cheapest connection with, the East; (3) at Pueblo it connects also with
the standard gauge system of the Rio Grande road for Denver and the
country tributary thereto; (4) to Albuquerque, where it connects with
the AtLantic & Pacific route to San Francisco, &c ; (5) to El Paso, where
it connects with the Mexican Central system of 1,500 miles or more now
being constructed; (6) to Deming, where it connects with the Southern
Pacific route to Southern California; (7) to Guaymas, on the Gulf of Cali­
fornia, where a not inconsiderable business awaits development. Of
this 2,620 miles of road, about ' 1.700 miles are now in steel rail. The
iron rail remaining is almost exclusively on branch roads. The whole
road, having all the facilities for doing business, is well constructed and
in excellent condition, and possesses an equipment of nearly 10,000 pas­
senger and freight cai-3 and 348 locomotives. The territory tributary
to this road can be more readily protected, and is less subject to invasion,
than that usually reached by railroad lines.”
The earnings have increased rapidly and also the stock and bonds, but
the most remarkable feature of operations is the variance in percentage
of. expenses to earnings, viz., in 1879, 46*3 per cen t; in 1880, 50%; in
1881, 6378; in 1882, 58*3. In 1883 gross earnings for eight months
$9,105,929, net $4,821,540; against $9,206,014 gross and $3,515,430
net in 1882, a decrease in gross in 1883 of $100,085, but an increase in
net of $1,306,110.
The annual report for 1882 was published in the Chronicle, V. 36,
p. 397 and 451. Income, etc., for four years were as follow s:
1879.
1880.
1881.
18'82
Warnings—
$
$
$
$
Passenger... ............. 1,353,231
1,786,901
2,970,608 3,662,576
Freight......................... 4,883,435
6,499,981
9,051,623 10,537,201
Mfiil, express, <&c........
144,777
270,094
562,278
573,528
Total gross earnings.. 6,381,443
Total operat’g expens, 2,963,128
Net earnings. . . . ........ 3,418 ,315

8,556,976 12,584,509 34,773,305
4,374,287
8,063,326
8,662,756
4,182,689
4,521,183
6,110,549

INCOME ACCOUNT.

$

£

Net earnings............... 3,418,315
4,182,689
-Pottawat’e land ae’et.
139,322 \ ............
Rentals and interest..
130,739
............
Sundry credits....... .
60,034
120,148
From Ü. S., &c. . . , ___

(h

4,521,183
............
.....
229,837

$
6,110,549
54,095
230.781
*612,295

Total income........ 3,748,410
4,302,837 4,751,020 7,006,720
Disbursements—
$
$
$
$
Rentals paid...............
836,772
864,273
774,740
824.859
Interest on^ebt........ . 795,446
734,527
866,662
1,122,346
Dividends..............
691,313.
1,727,195
1,841,021
3,324,793
Rate of dividend.. . . .
3
8*3
6
6
Sinking funds.............
.................................... 132,030
170,525
Sundry debits...! . . . .
113,302
35,125
4.494
486.334
Tot. disbursem’nts~2,43t>,83t 3,361,120 3,618,948
o,a28,857
Balance, surplus....... 1,311,579
941,717' 1,132,072
1,077,863
* Suspended U. 8. Government. and pool earnings for 1380 and 1881
not previously credited to income account.
—(Y. 35, p. 21, 265, 297, 339, 373. 456. 546, 762; V. 36, p. 251, 3 9 7
399, 4 5 1 , 559; Y. 37, p. 22, 127, 266, 375.)
A tla n ta & C harlotte A ir L in e .—Owns from Charlotte, N. C to
Atlanta, Ga., 269 miles. Successors of Richmond & Atlanta Air-Line
which was sold under foreclosure December 5, 1876, and the existing
corporation was formed February 27, 1877. On March 26, 1881, the
road was leased to the Richmond & Danville at a rental of $462,000
per year, equal to the interest on debt and 5 per cent on stock* if
gross earnings of A. & C. A. L. exceed $1,500,000, dividends to be 6
per ce n t; and if they exceed $2,500,000, 7 per cent. Receipts not sen
arately reported by lessees, so that the loss to the lessess is not known
but m 1379-80, the last year reported, total receipts were $951,688; net
$364,137. (V. 37, p. 48.)
A tla n ta & W e s t P o in t.—Owns from East Point, Ga., to Wes
Point, Ga., 81 miles; leased, 6*2 miles; total operated, 87*2 miles, fi
April, 1881, a controlling interest in the stock was purchased for th
Central Georgia, and a stock dividend of 100 per cent was afterwar«
declared in debenture certificates. Gross earnings in 1881-82, $430.010
iu 1882-83, gross, $406,192; net, $154,810. (Y. 35, n
1 6 0 ; V. 37, p. 127.)
.A t la n t ic & P acific.—( See Map.)—This company was chartered by
A ct of Congress July 27,1866. The Western «iivisionis frcmlsleta, near
Albuquerque, on Atchison Top. & Santa Fe, to Big Colorado River, 571
miles, where it meets the Southern Pacific. Also the Central Divison
finished from Seneca, Mo., to Tulsa- in the Indian Ter’y, 100 miles, and
m progress westward to a junction with the Western Division.
The Atch. Topeka & Santa Fe and the St. Louis & SaD Francisco
companies guarantee 25 per cent of the gross earnings over their
respective lines on business to and from this road, one year after its
completion, provided its own earnings are insufficient to pay coupons




7 g.
7
-7 •
7
7 g.
7 g.
4
7 g.
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2 *a
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6
3
6
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6
6
6
6
6
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J.
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Boston, Nat.Bk.of N.Àin
Boston, North Nat. Bk.
do
do
do
do
Boston, Everett N. Bk.
Boston, Bk. of No. Am.

July 1, 1905
July 1, 1909
Oct. 1, 1909
Oct. 1, 1909
1907
July 1, 1907

A. & 0. Boston, Everett Nat.Bk.
J. & J.
Boston.
M. & S., N.Y. Central Trust Co.
A. & O.
do
do
J. & J.
do
do .
A. & O.
do
do
J. & J. Atlanta, Ga., atTreas’y.
J. & J.
J. & J. New York and Boston.
A. & O.
M. & N.
New York.
At Mat.
M. & S.
J. & D.
M. & S. London, Gr. Trunk Rw.
M. & N.
A. & O, Iiondon, Gr. Trunk Rw.
M. & N.
do
do
J. & D.
Savannah.

April 1,1909
1910
Sept., 1883
April 1,1897
Jan. 1, 1907
April 1,1900
July 1 5 ,18$3
1891
July 1, 1910
Oct. 1, 1910
Nov. 1, 1891
Nov., 1901
March 1,1922
June 1, 1922
Sept. 15, 1883
Nov. 2, 1888
Oct. 1, 1884
May 1, 1891
June 4, 1883

J. & J. Phila.,F.Ins.Tr.&S. Dep. Jan. 1, 1910

and the advances so made constitute a loan to be repaid by the A. & P.
with interest. The stock authorized is $100,000,000, and issued $51,510,000 (par $100), mostly owned by the Atch. Top. & Santa Fe and the
St.-Louis & San Francisco companies equally, and held in trust for
those two companies. In June, 1883, a syndicate took $10,000,000 at
15, with an option on $10,000,000 more at 20. The stock is classed
thus: Western Div., common stock, $31,750,000; Cent, and Mo. divs.,
common stock, $3,360,300, pref., $11,400,09(5. The^old preferred stock
has no preference over the A. & P. Western Division stock? See state­
ment in V. 36, p. 588.
The Southern Pacific built east to meet this road at the Colorado River,
and agreed to pay to the Atlantic & Pacific 25-per cent of its gross earn­
ings on through business to and from the Atlantic & Pacific line, which
is to be applied to the payment of interest on the Atlantic & Pacific bonds,
the same as the 25 per cent from the- At. Top. & S. Fe and the St. Louis
& San Frau, companies. The land grant claimed under the old Atlantic
& Pacific charter of July, 1866, is 25,600 acres per mile in Territories
and 12,800 acres in States.. The total land grant on the whole road if
constructed as under the charter, would be 42,090.000 acres. The pro­
ceeds of sales of the company’s lands are to bo lodged with the trustee
under the mortgage, and are applicable to the purchase and cancella­
tion of the first mortgage bonds whenever they can be obtained by
public advertisement at not exceeding 110 and interest. The bonds
are not subject, otherwise, to be drawn or paid before maturity. They
are receivable at par in payment for lands. A map of the land grant
was published in the Chronicle , Y. 36, p. 468.
The fiscal -year ends December. 31. The annual report for 1882
was published at some length in the Chronicle, V. 36, p. 588,
giving details of the balance sheet and the history of the financial
arrangements of the company. The following, was stated of the
Central Division: “ Final surveys were commenced for the extension
west of Vinita, Indian Territory, in Nov., 1881. Grading westwardly
from Vinita was begun in January, 1882 ; the track completed to Tulsa,
on the Arkansas River, 99 miles west of Seneca, Mo., in Sept., 1882 ;*and
85 miles of the road west of Seneca have been accepted by the Govern­
ment. Of the cost of this division the sum of $600,009 was provided by
the subscription-at par, Jan. 20,1882, to the first mortgage bonds of this
division; and the balance has been temporarily advanced from funds
of the Western Division. The Central Division is at present operated by
the St. Louis & San Francisco Railway Co., which furnishes the neces­
sary equipment. It is the intention of the company to proceed with the
construction of this division westward from Tulsa during 1883. At
the date o f the re-organization there were outstanding $1,189,500 first
mortgage bonds of this division. The financial plan of Jan. 9,1882,
provides for a new mortgage upon the entire property of the Central
Division. The issue of bonds is limited .to not exceeding $25,000 per
mile of road.. Interest upon these bonds is guaranteed by a traffic con­
tract with the St. Louis & San Francisco Railway Co. and the Atchison
Topeka & Santa Fe RR. Co.,-similar in its nature to that relating to the
Western Division first mortgage bonds. The financial plan above-named
provides for an issue of $3,000,000 of these new bonds, to be used as
follows: 1st.—To retire the outstanding issue of old bonds of the Central
Division, -by exchange or purchase. 2d.—To provide means for the con­
struction of the Central Division from Vinita, Indian Territory, west­
ward. Ninety-nine miles of this division having been completed, the
company is entitled to issue $2,475,000 of these bonds; $1,190,000 have
been deposited with the Central Trust Co. of New York, trustee under
the mortgage, to provide for the old bonds outstanding, either by ex­
change or purchase; $312,000 have been issued under the subscription
of Jan. 20,1882; $288,000 are ready for delivery under the subscrip­
tion; and $885,000 remain in the hands of the Treasurer, the proceeds
of which will be used to repay the amount temporarily advanced from
funds of the Western Division.”
Officers of the com pany: H. C. Nutt, President, Boston; E. F. Win­
slow, Vice-President, New Y ork; C. S. Tuckerman, Secretary and Treas­
urer, Boston. (V. 35, p. 50, 51, 235, 320, 430, 431, 693. 736, 737: V.
36, p. 18, 55, 107, 139, 339,468, 526,559, 5 8 8 , 651, 6 7 4 ,7 0 7 ,7 3 1 ;
V. 37, p, 22, 151, 343, 423.)
A tlan tic & St, L a w ren ce.—Owns from Portland, Me., to Island
Pond, Vt. (and branch), 151 miles, there connecting with Grand Trunk
of Canada, to which leased for 999 years, August 5,1853, at a rental
equal to bond interest and 6 per cent on stock. The bonds to city o f
Portland are now provided for by aceummuiations of sinking fund.
Gross earnings in 1881-82, $957,659; net, $119,843.
A u g u sta & Savan n ah ,—Owns from Millen to Augusta, Ga., 53
miles. Leased to Central of Georgia for $73,000 per annum. Has n o
bonded debt. Has a considerable surplus fund.
A u stin & N orth w estern .—Line of road, Austin, Tex., to Burnet,
Tex. 60 miles. Opened Jan. 1,1882. Has a land grant of 600,000
acres. Stock, $600,000. J. A. Rhomberg, President, was appointed,
receiver Oct., 1883, (V. 37, p. 423.
B a ld Eagle V a lle y .—Owns from Vail Station, Pa., to Lockhaven,
Pa., 51 miles; branch, Milesburg, Pa., to Bellefonte. Pa., 2*2 miles;
Snowshoe to Sugar Camp, 26*3 miles; total operated. 80 miles. Opened
December 7,1864, and leased to Pennsylvania Railroad Company fo r 99
years. The branch is the property of the lessors. Rental, 40 per cent
of gross earnings, and in 1832 was $182,805; paid interest, $25,000,
and dividends (9 per eent)_, $76,504. In July, 1883, 5 per cent paid.
Stock is $350,050 (par $50), and dividends are paid according to
earnings.

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KAILItOAD

STOCKS A T O

BOTOS?

[V ol X X X V II.

Subscribers w ill confer a great favor by g iv in g im m ediate notiee o f any error discovered in these Table».
DESCRIPTION.
“
------------ --------------Bonds—Princi­
INTEREST OR DIVIDENDS.
Miles Date Size, or
For explanation of column headings, &e., see notes
pal,When Due.
Amount
of
of
Par
Rate peí When Where Payable, and by Stocks—Last
on first page of tables.
Road. Bonds Value. Outstanding
Cent. Payable
Whom.
Dividend.
Baltimore rf! Ohio—Stock.. ...............
1,612
Preferred stock......... -.................. ............
Loan due in 1880, extended___’ ............................. . . . .
Loan, 1853 . . . , ..... .................. •..... .........................
do 1870,sterling, £800,000, sink.’ fu n d ..........
Baltimore loan, 1855-’90, sink, fund
Sterling mortgage, sinking fund___A ................
411
Sterling mortgage, sinking fund.
" ................
421
Purchaseof Connellsv. EE (payable$40,ÓÓ0y ’iy)
Loan,ster.,(s.f.£7,500)(B.O. &Ch.bdscollat’l)
263
Bonds (Parkersburg Branch bonds collateral) .
104
Northwestern Virginia, 3d mortgage, 1855-85
Bonds to State of Maryland. . . . ___
....
Sterling mortgage on Phi 1adelphi a ’ Branch..........
Baltimore &Potontac—1 stM (tunnel) gold, s. f. I p c
1st mort., road, gold, coupon, s. f. 1 per c e n t.
89
2d mortgage, income, road and tunnel, re g ....
90
Belleville <&El Dorado—tis t(int. guar. St.L.A.& T.H.j
52
2d m ortgage.....^.................................................
52
Belleville <6 South. III.—1st M. (int. & s. f. güar.)
56
'Belvidere Del.—1st mort. due 1877, extended, guar
64
2d mortgage bonds of 1854 (guar, by C. & A.)
64
3d mortgage bonds of 1857 (
do
do ) ____
64
Consol, mortgage of 1876
67
Bennington <&Rutland—1st mortgage.
59
Berkshire—Stock.
22
Boston <& Albany—Stock......................
369
Plain bonds, coupon or registered...
....
Loan of 1875, coupon or registered
Bonds issued to State for its stock...

$100 $14,792,566
5
100
5,000,000
3
579,500
4
6
___
1870
2.457,000
6 g___
1855
2,575,000
6
1872
£100
7,926,012
6 g.
1874
£200
8.727,790
6 g.
1875
720,000
1877
£200
7,744,000
5 g.
1879
1,000
3,000,000
6
1855
....
140,000
6
1878
366.000
6
1883
£200 12,000,000
4 i2 g.
1871
1,000
1,500,000
6 g1871
1,000
3,000,000
1875 . 1,000
2,000,000
î ë1880
220,000
7
1880
330,000
6
1866
1,000
1,053,000
8
1877
1,000
1,000,000
6
1854
500
499,500
6
1857
500
745,000
6
1876
1,000
1,200,000
7 ,
1877
1,000
475,000
7
100
600,000
1%
100 22,000,000 2&10 stk
1872
1,000
5,000,000
7
1875
1,000
2,000,000
6
1882
3,858,000
5
....

B altim ore <fc O h io.—L ine op R o a d —The B. & O. system embraces
numerous roads in Md., Va., Pa. & Ohio, which could only be clearly
shown in the Supplement bv a map. By means of the Marietta & Cin­
cinnati, via Parkersburg, (¡he road has a-direct route to Cincinnati.
Mileage is as follows: Balt, to Wheeling (main) 379 miles; Branches—
To Locust Point 5, Camden cut-off 1. Junction to Frederick City 3, Point
of Rocks to Washington 43. Curtis Bay Br. 5 miles, Bridges 3; total own­
ed, 439; branches leased—Hyattsville to Shepherd, Md., 13, Winchesterto Harper’s Ferry 32, Winchester to Strasburg 19, Strasburg. to Harri­
sonburg 50; total branches leased, 114; total B.&O. main and branches
553; leased, controlled and operated—Relay House to Washington 3 1,
Grafton to Parkersb’g, W. Va., 104, Wheeling to Washington, Pa., 32
Pittsburg to Cumberland,Md., 150, Berlin Branch RR 9, Mineral Point
, to Johnstown 46, Weavert’n to Hagerstown, M d, 24, Harrisonburg to
Staunton 26, Broadford to Mt. Pleasant, Pa., 10, Connelisville to Uniontown. Pa., 14, Bellaire to Columbus, O., 137, Sandusky to Newark, O.,
116, Pittsburg So. RR.,.53, Newark, O., to Shawnee, O., 44, Chicago Junc­
tion, O., to Illinois Junction, 111., 263; total leased, &c., 1,059; total
operated, 1,6x2 miles. The B. & O. is constructing a lateral road from
.near Baltimore northward to be known as the Philadelphia branch. It
will connect with the Balt. & Phila. Railroad now being built through
the State of Delaware, by way of Wilmington, and so on to Philadelphia.
Organization , L eases , & c.—The corporation was chartered in Maryland Feb. 28,18-7, and m Virginia March 8,1827. First section opened
May 24, 1830. The company was assisted by loans from the City of
- Baltimore. The relations with the auxiliary branches and leased roads
x ie
S.' W l virtually owns nearly all of these east of
the_Ohio River, and the total charges for rentals and guarantees are
moderate. In 1882 the stocks and bonds of allied companies held were
$24,379,700 (of which $7,185,070 were held by trustees)? The company
has been exceptional m not increasing its own stock or bonds for new
properties acquired, and the balance sheet shows a nominal surplus to
. Credit of income account of $43,907,658. Fiscal year ends Sept. 30.
Stocks and B onds—The pref. stock carries 6 per cent dividends only.
The common stock has paid—in 1877, 8 per cent; in 1878, 8 in stock - in
1879, 4 stock and 4 cash; 1880, 9; 1881,10; 1882, 10; 1883 10 The
price of stock in 1881 was 183@210; in 1882, 1933 202; in 1883 to
last Saturday, 19212.®205.
The Baltimore & Ohio direct bonds of 1879 on Parkersburg
Branch are secured by deposit of mortgage on that road. The sterling
mortgage of 1883 is made to William F. Burns, John Gregg and T. H ap
rison Garrett, trustees. The bonds of 1877, due 1927, are secured bv
the mortgage bonds of the B. O. & Chic, road deposited as collateral.
F e n c e s , &c.—The fiscal year ends with Sept. 30, and
for 1881-82 an abstract of the report was given in the Ch ronicle , Vol
3o, page 600. The reports dp not contain a condensed statement show­
ing the earnings of all the lines on freight, passenger and other busi­
ness separately. The income account of the B. & O. RR. Co. showed a
balanee ot $1,648,978 for the year 1881-82, after paying all charges and
10 per cent dividends on its stock, and this balance was presumably
invested m auxiliary companies. The account in detail was as follows:
«1 570 qjj
Net earnings from transportation...........
Receipts from other sources—
_*"....... ’
,ViA
Dividend of 10 p. c. for year on Wash. Br. stock... $102,800
Increment from city loan sinking fund, net amount
28,779
House rents received during fiscal vear....
19 296 Increment from sinking fund, W. C. & P. L. R R ’ .\\’
5/L55—■ 156,030
«1 70;
,
Available revenue...................... .......
Paym ents..................................... 1............ $ 1,72 ->,974
Dividends 10 per cent.. . . . . . . . . . . . . . . . .
$ 1 47« 355
Interest and ta x e s...............................$3,052',014
’
Less cash receipts and net earnings of
B. & O. & C. RR............. ................... 1,720,568 1,331,447
Ground rents............................................. ......
' 38,454
Rental of Winchester & Potomac R R .......$27,000
Do
Winchester & Strasburg RR •
5,229
; Do
Strasburg & Harrisonb.RB.
89,250
L Do
W.City&Pt. Lookout-RR..
36,000— 157,479
Central Ohio Division.....................
30,658
, Straitsville Division..... ........... . . . . . . . . . . . . . . . . .
43,603—3,079,996
Balance, credited to profit and loss........ ........................... $1,648 978
An abstract of the last annual report is given in the Ch r o n ic l e , Vol
35, p. 600, and contains the following remarks: “ It is shown by the
report of Lhe Transportation Department that the tonnage of through
merchandise east and west has been 2,043,227 tons, whilst in the nrey®ar*t was )^014,
tons, and 1,980,397 tons in 1880, and 1,425,629 tons m 1879,607,038 barrels of flour and 8,343,240 bushels of grain
were wrought to Baltimore during the fiscal year. Of this aggregate of
S*‘am £>58b,814 bushels were
wheat and 591,719 bushels were of
com . 1He large tailing off ip the transportation of grain as compared with
J? 0 preceding year arose from the general deficiency in the crops of
tne country, and trom the operations of speculators, whieh caused the
tnA0TT8r.Hc.ud «t?+Lec,t? S£oh
as largely reduced the exports from
xT.e+iIin, e .1 s ^ te s to Great Britain, France, Germany, Belgium, the
elsewhere
au<* cause<l all countries consuming grain to seek it
^ net earnings of the main stem and its branches, and of
the other divisions, for the last fiscal year, as compared with 1880-81,
wcr6 8i_s ioiiow s:
J




M. & N.
Baltimore, Office.
J. & J. Balt., Merchants’ Bank,
J. & J.
Baltimore, Office,
A. &■ O.
do
do
M. & S.
London.
J. & J.
Baltimore, Office. ■'
M. & S.
London.
M. & N. London, Speyer Bros.
J. & J.
Baltimore, Office.
J. & D. Lon., J. S. Morgan & Co.
A. & O. Balt. & N.Y., D. M & Co.
J. & J. Balt., Balt. & O, RR. Co.
J. & J.
do
do
A. & O.
London.
J. & «L Balt, or London or N.Y.
A. & O. Phila., Penn. RR. Co.
J. & J.
Baltimore.
& J. N. Y. St. L A. & T. H.
& A.
do
.
do
& O . N. Y., 37 Wall street.
& D. Philadelphia, Pa. RR.
& S.
Philadelphia.
& A. Philadelphia, Pa. RR.
& J. Treasurer, Trenton, N.J.
M. & N. N.Y., Union Trust Co.
Q.—J. Stockbridge, Treasurer.
Q .-J .
Boston, Office,
F. & A.
do
J. & J.
do
A. & O.
do

Nov. 1, 1883
July, 1883
At wilL
1885
1895
1890
Mch. 1, 1902
3910
1883-1900
June 1, 1927
April 1,1919
1885
July 1, 1888
April 1, 1933
July 1, 1911
April 1, 1911
Jan. 1. 1915
July, 1, 1910
Aug. 1, 1920
Oct. 1, 1896
1902
1885
1887
Jan. 1, 1916
Nov. 1, 1907
July 2. 1883
Sept. 29,1883
Feb. 1, 1892
July 1, 1895
April 1, 1902

-— Earnings, 1881-82— > >
— Earnings, 1880-81.—s
Gross.
Net.
Gross.
Net.
Main Stem, <fcc............ $10,556,570 $4,572,944 $11,122,259 $4,846,615
Washington Branch..
354,356
221,254
353,570
193,533
Parkersburg Branch .
624,665
108,071
712,158
72,422
Central Ohio Division
987,402
314,932
1,006,025
228,267
Lake Erie Division ...
940,769
234,701
899,791
112,373
Chicago D ivision___ . 1,692,007
446,407
1,638,661
453,069
Pittsburg Division___
2,979,789 1,542,125
2,500,548 1,124,473
Wheeling Pittsb. & B.
59,380
1,150
53,557
1,094
Newark S. & S. R R ...
188,937
13,078
177,304
41,548
Total......... ............. $18,383,875 $7,454,662 $18,463,877 $7,073,398
The aggregate working expenses of the Main Stem, with all branches
and divisions, were 59-44 per cent-of the whole gross revenue, against
61-69 per cent the preceding year. Results of operating all lines owned
and controlledwor the five years 1877-82 :
Years,
Gross Earnings
Operating Expenses.
Net Earnings.
1877- 78........... $13,765,279
$7,769,301=56-44 p. c. . $5,995,978
1878- 7 9 ........... 14,193,980
7,691,595=54-18 “
6,502,385
18798 0 . . .. . . . . 18,317,740 10,330,770=56-39 “
7,986,970
188081.
18,463,877
11,390,479=61-69 “
7,073.398
188182...-. 18,383.875
„
,
*10,929,213=59-44 “
7,454,662
—(V. 34, p. 1, 60, 116; V. 35, p. 130,430, 589, 600, 603; V. 36. p. 426.)
B a ltim o re & P o to m a c .—Owns from Baltimore. Md., to Bowie
Md., 24 miles; Bowie to Pope’s Creek, 49 miles: branch—Bowie to
Washington, D. C., 17 miles; total operated, 90 miles, including
tunnel in City of Baltimore. * The road is controlled by the Pennsyl­
vania Railroad Co., and first mortgage bonds guaranteed by Pennsyl­
vania and Northern Central. Capital stock, $3,553,250, Gross earnings
in 1881, $966,432; profits, $125,508. In 1882 gross earnings, $1,097,008; net, $306,286; interest. &c., $272,452; profit, $33,833. Income
bonds wholly held by Penn. RR. Co.
B ellev ille & E l D o r a d o .-An extension of Belleville & So. Illinois
from Du Quoin to El Dorado, 52 miles, and leased to St. L: Alton & Terre
Haute. Rental 30 per cent of gross earnings up to $2,500 per mile, and
15 per cent on all above that amount. Rental received for 1881.
$14,640; 1882, $22,206. Stock, $1,000,000.
B ellev ille & Southern Illin o is ,—Owns from Belleville, ILL, to
Duquoin, 111., 56 miles. It was leased Oct. 1,1866, to the St. Louis Alton &
Terre Haute Railroad Co. Lease rental 40 per cent of gross earnings
up to $7,000 per mile (except on coal, &c.), 30 per cent above $7,000 and
up to $14,000 per mile, and 20 per cent on any excess of $14,000 per mile.
Rental for 1880, $147,344; for 1881, $146,662; for 1882, $167,990. In­
terest on bonds and sinking fund $5,000 per year, guaranteed by lessees.
Common stock, $430,000; pref. 8 per cent stock, $1,275,000, non-cumulative. Dividends on preferred stock past three years have been—3%.
May, 1883; 5 ^ in 1882; 4^2 in 1881.
.
B elvidere D ela w a re.—Owns from Trenton, N. J., to Manunka
Chunk, N. J., 67 miles; Millham Cut-off, 1 mile, Flemington RR., 12
miles; total operated, 80 miles. Leased to United Companies, and trans­
ferred to Pennsylvania RR. March 7,1876, by which operated as their
Belvidere Division, and net earnings paid over as rental; but the first,
second and third bonds are guaranteed. In 1881 net earnings were
$479,067, and interest payments $261,050. In 1882, net $506,455:
interest, $263,022. Capital stock, $994,000.
B en n in g to n & R u tla n d .—Owns from Rutland to Bennington,
Vt., 57 miles; branch. No. Bennington to New York State Line, 2 miles;
total, 59 miles.* Chartered as West. Vermont in 1845, and consolidated
m Harlem Extension in 1870. Since Sept. 10,1877, the Vermont division
(as above) operated by the re-organized Bennington & Rutland. Stock
$1,000,000 authorized (par $50), and $502,000 issued, and bonds $475,000, In 1881 gross earnings $212,734; net $49/576; in 1882, gross
$222,963; net, $74,453; 3 per cent paid Jan. 12, 1883.
B e rk sh ire .—Owns from Connecticut State Line to West Stockbridge, Mass., 22 miles. Leased in perpetuity to Housatonic Railroad
Compaqy at 7 per ct. on capital stock, $600,000. Lessors pay taxes, &c.,
and for this reason the quarterly dividend due in Oct. is usually omitted.
B o sto n & A lb a n y .—Owns from Boston, Mass., to Albany, N. Y .,
202 miles; Springfield to Athol, 48 m iles; numerous branches, 48 miles;
leased lines, 74 miles; total operated, 369 miles. The Boston &
Albany was formed (Deo., 1867) by the consolidation of the Boston
& Worcester and the Western railroads. The five per cent boncte of 1882
were issued to the State of Massachusetts in exchange for 24,115 shares
of B. & A. stock held by the State, and in September, 1883, a stock divi­
dend of 10 per cent was made to stockholders. In 1881 and 1882 the
loss in net receipts was partly owing to the fierce competition between
the trunk tines, which reduced the rates on through traffic. The last
annual report was in V. 35, p. 637. Results of operations for five years
were as follow s:
Passenger Freight (ton)
Gross
Net
Div.
Years. Miles.
Mileage.
Mileage.
Receipts. Receipts.* p. ct,
18778 .. 322
101,221,955 329,708,573 $6,633,534 $2,219,536 8
1878- 9 .. 324 101,248.321 325,484,799
6,427,463 2,703,638 8
187980. 373
113,154.374 375,452,804' 7,741,118 2,492,618 8
18801.. 373
135,421,102 417,108,612
7,875,285 2,186,873 8
18812.. 369
151,255,032 347,317,338
7,790,372 . 2,189,381 8
* Net receipts include income from rents. &c.
—(V.*35,p. 235, 5 1 5 , 6 3 7 ; V. 37, p.342.)

October , 1883.]

RAILROAD

STOCKS AND

19

BONDS.

Subscribers w ill confer a great favor by giving im m ediate notice o f any error discovered in these Tables.
Bonds —Princi­
INTEREST OR DIVIDENDS.
DESCRIPTION.
When Due.
Miles Date Size, or
Amount Rate per When Where Payable, and by pal,
Stocks—h a it
Par Outstanding
of
For explanation of column headings, &c., see notes of
Dividend.
Whom.
Cent. Payable
Road. Bonds Value.
on first page of tables.
$100&c.
38*3
Boston Barre <&Gardner.—1st m ortgage..............
2d m o rtga ge.................. .......... ......... .
1881
3d mortgage (convertible into stock)...... - - . —
i'oo
167
Boston Concord <&Montreal—Old preferred stock
100
Com. and new pf. stock (new pf. stock is $540,400)
100
&c.
1858
Sinking fund bonds.
160 1873 200 &c.
Consolidated mortgage bonds (for $2,000,000)---1,000
166 1881
Improvement mortgage bonds................................
1,000
1883
Bost.Hoosac Tun.&West.—Debenture b on d s......... .
500
Boston <£Lowells-Stock..... ...... .................. -•— ........ 140
1872.
Bonds.......... . . . . . . ................ .................................
1875
B o n d s................................................................ .
■
1876
B o n o s ...i........... ..................................................... .
1879
Bonds............................... , ............. ......... ................
• Lowell & Lawr., b o n d s ..................................... .
Salem & Lowell, bonds..*................ . . : ............ ......
100
203
Boston <£■ Maine—Stock,.................. *........................
1873-4 500 &c.
Bonds, coupon and registered............................. '..
100
54
Boston <&N. F. Air-Line—Stock, pref. (guaranteed)'
1,000
50 1880
1st mortgage............. , ...................................... —
100
68
Boston di Providence—S to ck ......................... ...........
1873
Bonds to purchase branches, coupon or registered
1,000
1882
41
Bradford Bordell <&Kinsua—1st mortgage
54 1881 -1,000
Bradford Eldred <£•Cuba—1st mort
1,000
1879
Brooklyn Elevated—1st mort., gold
11181
Receivers’ certific’s, payable in cash or 1st M. bds.
100
85
Brooklyn & Montauk—Stock ($1,100,000 is pref.) ..
54 1867 500 &c.
South Side, 1st mortgage ............. ............................
1,000
New mort. ($1,000,000), guar, by L. I. RR., gold. ' 85 1881
B o sto n B arre Sc G ardner.—Owns from Worcester to Winchendon,
Mass., 37 miles. Stock, $875,277. Interest has been reduced to 5 per
cent. Gross receipts in 1830-81, $174,688 ; net, $i8,377. In 1881-2,
gross receipt, $187,280 ; net, $43,806. (V. 33, p. 200.)
B o sto n Concord Sc M o n trea l.—Owns from Concord, N. H., tc
Wells River, N. H., 94 miles; branches—Wells River, N. H., to Groveton
Junction, 51 miles; Wing Road to Mt. Washington, 22 miles; total
operated, 167 miles. An extension of thé White Mountain Railroad
from Littleton to Groveton Junction is mortgaged.
The old pref. stock ($800,000) has received 3 per cent semi-annually,
amounting to $48,000 a year. Neither the new preferred nor the com­
mon stock has received dividends.
Of the sinking funds due in 1889, 'there are outstanding in the hands
of other parties, $202,000, on which interest is paid, the trustees holding
$306,000 and the corporation holding $116,000 on which no interest is
paid.
The annual report for 1882-3 said : “ Were it not for the accidents
which we were so unfortunate as to suffer at the commencement of the
year, our running expenses would have been cousiderably less, and our
net earnings would, without doubt, have shown a material increase
over those of the preceding year.”
Fiscal year ends March 31. The earnings, expenses and available
revenue for four years has been as follows :
Gross .
Expenses,
Available
Years. »
Miles.
Earnings.
Taxés, &c.
Revenue.
18798 0 ............
167$678,123
$477,251
$200,871
188081 . . . . . . . . . . .
167 .797,556
586,172
211,383
188182
..................
167902,906 669,157
233,745
18828 3 !......
167
920,195
697,651
222,544
—(V. 36, p. 560, 6 2 2 , 675.)
B o sto n H o o sa c T u n n e l & W e ste r n .—Owns from Massachu­
setts State Line to Rotterdam (junction Of N. Y. West Shore & Buffalo
RR.), N. Y., 62 miles, and leases branches to Saratoga and to Schuylerville, N.Y., 26 miles ; total, 88 miles.
The road connects with the line
running through the Hoosac Tunnel. In March, 1883, all property
ana rights west of Hoffman’s Ferry (10 miles west of Schenectady)
were reported as sold to the N. Y. West Shore & Buffalo for $400,000
cash and $700,000 stock of the N. Y. W. S. & B.
The work of construction was done under contract by the Continental
Construction & Improvement Co. (120 Broadway. New York-), and a cir­
cular dated August 4, 1883, issued by that company contained the fol­
low ing:
.
.
...
ft By the terms of the subscription of May, 1881, to $10,000,000 of the
capital stock of the Continental Construction & Improvement Co., it was
provided: 1st.—That for each $1,000 paid in on $2,000 Construction
Co. stock subscribed for, a bond of $1,000 of the Boston Hoosac Tunnel
& Western Railway was to be delivered, but placed in the hands of trus­
tees. 2d.—That the remaining 50 per cent of such subscriptions could
he called in by the company as required and .that every payment of
$1,000 would entitle the subscriber so paying to another bond as
described, which was likewise to be placéd with trustees.” * * * *
“ After protracted litigation it has been determined under a decree of
the Supreme Court of the State of New York that the Boston Hoosac Tun.
& West. Railway Co. (as consolidated under articles of April 11, 1881) is
an iliegal organization, and all securities, bonds or stock issued by it
and contracts made by it are illegal and void.” The decision affirms the
validity and legality of the corporation as consolidated under articles of
agreement dated April 19,1880, known as the Boston Hoosac Tunnel &
Western Railway Co. A new contract has been made by which the
Construction Co. agrees to complete the railroad, to a junction with the
New York West Shore & Buffalo Railway, at Rotterdam, N. Y., a point
about 22*2 miles southwest of Mechanics ville, N. Y.; and in partial set­
tlement of indebtedness due and recognized by the decree, the Construc­
tion Company become possessed of $2,000,000 debenture bonds of said
Boston Hoosac Tunnel & Western Railway Co. and $6,000,000 stock as
represented by trustees’ certificates. It is also proposed to exchange the
stock of this company upon which 85 per cent has been paid for full
paid certificates of such stock upon the basis of 85 shares full paid stock
for 100 shares upon which 85 per cent, has been paid. This exchange is
not compulsory. The Construction Co. offers for sale to its stockholders
who have paid up 85 per cent, the $2,000,000 5 per cent debenture bonds
of the Boston Hoosac Tunnel & Western Railway Co. and $4,000,000
stock represented by certificates of trustees ; and the terms of sale are
as follows : Each stockholder of record on August 10 is entitled to sub­
scribe upon èvery 50 shares held, to a block consisting of $1,000 5 per
cent debenture bond and $2,000 stock, at a fixed price of $650 for such
block. The debenture bonds are redeemable at will prior to maturity
and may be converted into mortgage bonds if any are hereafter issued.
—(Y. 35, p. 21, 51, 211, 265, 393 ; V. 36, p. 29, 80, 284; Y. 37, p. 151.)
B o sto n & L o w e ll,—Owns from Boston to Lowell, 27 m.; branches—
Salem & Lowell, 17 miles; Lowell & Lawrence, 12 miles; others, 19
miles ; leased—Middlesex Cent, and branch, 12 miles ; Nashua & Lowell,
15 miles ; Stony Brook RR., 13 miles ; Wilton RR., 15 miles ; Peter­
borough Railroad, 10 milès ; total leased, 65 miles ; total operated, 140
miles. The Lowell & Lawrence and Salem & Lowell railroads, operated
for some years under lease, were purchased and consolidated in 1879,
the Boston & Lowell assuming their bonds, which cannot be paid off
before maturity. A joint business was formerly done between the Bos




$390,000
186,300
57,300
800,000
1,000,000
624,000
1,932,400
500.000
2,000,000
3,792,000
999,500
500,000
750,000
620,000
200,000
226,900
7,000,000
3,500,000
2,970,000
500.000
4,000,000
500,000
390,000
500,000
1,150,723
1,456,000
2,000,000
750,000
250,000

5 &7
3
6

A. & O. Worcester, City Nat. Bk.
do
do
do
do.
Boston, Office.

3

J. & J.
M. & N.

....

....

6
6&7
6
5
2h¡
7
7
6
5
6
6
4
7
2
5

J. & J.
Boston, Office.
A. & O.
do
do
J. & J.
do
do
M. & S.
New York.
J. & J.
Boston, at Office.
A. & O.
do
do
M. & S.
do
do
do
do
J. & J.
do
do
J. & J.
do
do
A. & O.
do '
do
A. & O.
Boston, at Office.
M. & N.
do
do
J. & J.
A. & O. N.Y., N.Y. N. H.& H. Co.
do
do
F. & A.
Bostor, at Office.
M. & N.
4.
do
do
J. & J.
7
J. & D. N. Y., Marine Nat. Bk.
6
New York.
J. & J.
6
New York.
6 g. M. & S.
....

A p r ili.
July 1,
July 1,
May 15,

1893
18951895
1883

1889
1893
1911
1913
July 2, 1883
April 1, 1892
March 1,1895
July 1, 1896
July 1, 1899
Oct. 1, 1897
Oct. l , y 1898
May 15,1883
Jan.,1893 &94
Oct. 1, \1883
May 1,
July 1,
June 1,
Jan. 1,
Sept. 1,

1883
1893
1932.
1932
1917

M. & S. N.Y., Corbin Bank’g Co. Mar. 1, 1887
7
Mar. 1, 1911
do
do
6 g. M. & S.

ton & Lowell and the Concord RR., but from February, 1883, they havebeen under separate managements.
-PaymentsNet
Gross
Miles. Receipts. Receipts. Rentals. Int. & mise. Div.,p.o
Years.
3
$67,598
$161,890
1878-79. .. 87 $1.198,962' $392,580
4
4,292
259,318
1.399,316
422.698
1879-80. .. 87
298,057
4
133.690
584,269
1.872,656
1880-81. ..140
4 L3
345,105
154,808
2,085,622
675,345
1881-82. .*140
- ( V . 35, p. 160.)
B o sto n Sc M a in e.—Owns from Boston, Mass., to Portland,
Me., 115 miles ; branches, 11 miles ; leased—Wakefield to Danvers, 10
miles ; Lowell to Ballardville, 10 miles : Bradford to Newburyport and
Danvers, 27 miles ; West Amesbury to Newton, Mass., 4 miles ; Dover,
N. H., to Alton Bay, N. H., 29 miles ; total operated, 206 miles, less.3
miles leased. In March, 1883, voted to leasé the Eastern RR. of Massa­
chusetts on terms as stated briefly under Eastern ; the lease will prob-.
ably be consummated after legislation has been obtained. The fiscal
year ends Sept.* 30. The last annual report was in V. 35, p. 636 ; earn
mgs, &c., were as follows:
Outside Av’il’ble D iv.
Gross
Expenses
Net
Years.
Earnings.
& Taxes. Earnings. Receipts. Revenue, p.o.
$83,717 $825,091 6
18777 8 .... $2 100,741 $1,359,367 $741,317
88,964 884,066 6
1878- 7 9 .... 2,149,857 1,354,755 795,102
18798 0 .... 2,438,270
1,511,018927,252 94,382 1,021,634 7 h
86,300 937,659 8
1880- 8 1 .... 2.601,215 1,749,856 851,359
82,404 920,876 8
1881- 8 2 .... 2,768,326 1,929,854 838,472
—(V. 35, p. 21, 574, 6 3 6 ; V. 36, p. 311, 365, 675.)
B o sto n Sc N ew Y o rk A ir L in e .—Owns from New Haven, Conn.,
to Willimantic, Conn., 50 miles ; leased, Turnerville to Colchester, 4
miles ; total operated, 54 miles. Formerly the New Haven Middletown
& Willimantic. A lease was made in Oct., 1882, to the N. Y.N.H.& Hartf.
RR. for 99 years at 4 ner cent dividends per year on the pref. stock and
interest on the bonds? the common stock is $830,800. On the road, the
gross earnings were $305,111 in the year ending Sept. 30,1882, and net
$172,154. (V. 35, p. 21, 78, 297, 320, 371, 404, 455 ,6 3 7 ; V. 36, p .
453.)
B o s t o n & P r o v i d e n c e .—Owns from Boston, Mass., to Providence,
R. I., 44 miles; branches,20 miles ; leased, Attleborough to North Attle­
borough. 4 miles ; total operated, 68 miles. The company have valuable
depot properties in Boston. Notes outstanding September, 1882, were
*360,000, due in 1882-3-4-6. * (Annual report in Chronicle , V. 35, p.
544.)
Gross
Net Trafilo
Divi«
Earnings.
Earnings.
dends,
Years.
$355,748
8
1879-80.................. ........................ $1,304,520
395,403
8
1880-81.................. ....................... 1,419,313
352,330
8
1881-82.................. ....................... 1,584,839
—(V. 33, p. 5 61 ;; Y. 35, p. 544.)
B rad ford B o rd e ll & K in z u a —(3-foot gauge)—Mileage from
Bradford, Pa., to Simplon, Pa., 15 miles; Kinzua Junction to Bordell,
3 miles; Rew City to Eldred, 12 miles; Simpson to Smethport, 11
m iles; total, 41 miles. Stock is $500,000, par of shares, $100. Gross
earnings in 1882, $96,133; net, $18,445. John J. Carter, Titusville, Pa.,
Pres’t.
B rad ford E ldred & C uba.—Owns from Eldred, Pa.,4o Bolivar
and Wellsville, N. Y., and branch to Richburg, and Cuba to Little
Genesee, 54 miles. Stock, $480,000. Gross earnings in 1881-82, $153»043; net, $66,728. R. G. Taylor, President. There are also 2d rnortg.
bonds for $60,000, 6s, due 1885. Y. 35, p. 706.
B r o o k ly n E levated .—Receivers were appointed October, 1880»
and a compromise effected March 1, 1881, by which reorganization,
was to be made and stock and bond scrip were assessed. There were
outstanding at that time $1,069,000 1st mort. bonds and $217,700 bond
scrip; $1,852,880 engraved stock and $1,497,683 scrip stqck. All were
assessed 20 per cent and $3,500,000 6 per cent mortgage bonds, and
also income bonds, were to be issued. Capital stock of new company
was $4,000,000 authorized. There was some failure in the plan, and in
July, 1882, a new agreement was proposed, and the affairs are some­
what mixed up. J. R. Lydecker and S. M. Schafer, receivers, 48 Wall
Street, New York. (V. 34, p. 203, 290; V. 35, p. 1014)
B r o o k ly n & M o n ta u k .—Brooklyn to EastpoA, L. I., 67 miles;
branches to Fresh Pond Junction, 2 miles; to Roekaway, 9 m ile s;:
total,-78 miles. This was first the South Side Railroad of Long
Island, which was foreclosed Sept. 16, 1874, and reorganized as the
Southern of Long Island. On June 3,1879, the property was again sold
in foreclosure of the second mortgage, and this company organized.
The preferred stock has a preference of 7 per cent, not cumulative. It
is leased to the Long Island Railroad for 50 years at 25 per cent of the
net earnings of the whole Long Island RR. system, including its leased.
linc.rf. No rental had been paid up to June, 1883? the lessee claiming tfo<
have-expended all the income on improvements. The new mortgage
for $1,000,000 is to take up the first and balance issued lor extension
to Moriches; it is guaranteed by L. I. RR. as to interest on $750,000,
and both principal and interest on the $250,000. F. D. Tappan, Presi­
dent, Daniel Lord, Secretary, New York City. (Y. 32, p. 526.)

RAILROAD

2 0

STOCKS AND

BONDS.

[V ol .

x x x v il

Subscribers w ill confer a great favor b y g iv in g im m ediate notice o f an y error discovered in these T ables.
Bonds—Princi­
DESCRIPTION.
INTEREST OR DIVIDENDS.
Miles Date Size, or
Due
Amount Rate per When Where Payable, and by pal,When
For explanation of column headings, &e., see notes of
of
Par
Stocks—Last
on first page' of tables.
Road. Bonds Value. Outstanding Cent. Payable
Dividend.
, Whom.
Brunswick <£- Western—1st mortg. (for $3,500,000). 171 1883 $500&c. $2,000,000
J. & J. N.Y. Office, 35 Wm. St.
6
Buff.Brad.dk Fitts.r—Gen. M.Jinel. 10,000 ac. I’d)___
26
1,000
580,000
7
J. <fc J. New York, Erie Office.
Buffalo New York <6 Brie—Stock............................... 142
100
950,000
3 ^ J. & D. N. Y., Erie Railway.
First mortgage........................................................... 140 1876
1,000
2,380,000
7
J. & D.
'd o
do
Buffalo N. Y. <&Philadelphia—Block., common....... 657 . . . .
50 13,000,000
Stock, preferred............................................... .........
657
50
6,000,000
Q.'-M.
‘Ï ^
1st mortgage, gold................................................... 121 1871 500 &c.
3,000,000
6 g. J. & J. N.Y.,Farm’s’ L.& Tr.Co.
2d mortgage................................................................ 121 1878 500 &c.
1,000,000
7 g. Q.—M- Buffalo, F.ife M. Nat. Bk.
Consol, 1st mortgage, gold....................................... 205 1881
1,000
7,000,000
J. & J. N. Y., lì. S. Trust Co.
Trust mort., gold (secured by collaterals).............
-1882
1,000
2,800,000
6 g. M. & N.
Buff. Pitts. & W., M. bds (for $7,500,000 coup.)___ 274 1881
1,000
4,003,000
6 g- A. & O. N.Y.,Farm’rsJT-.&Tr.Co.
do
1st mort. (W. & F. R R .) ................
50 1865
1,000
1,500,000
7
F. & A. Phila., E.W.Clarke & Co.
do
1st M.(OilCr. RR.) renew’d, ’82..
38 1862
1,000
573,000
6
A. & 0.
Phila., Co.’s Office.
do
1st mort. (Un. & Titusv. R R .)___
25 1870 500 &c.
500,000
7
J. & J. Phila., E. W.Clarke & Co.
do
2d mortgage (Pitts. T. & B.)....... 120 1876 100 &c.
924,000
7
F. &-A. Phila. Manuf’rs’ N. Bk.
Buffalo cé Southwestern.—Stock (one-half of it pref.)
67
943,800 3 *2 onpf.
lslrmortgage bonds, g o ld .........................................
67 1877
1,000
1.500.000
6 g. -I. <fe D. N. Y., First Nat. Bank.
Burlington G. Rapids céNorthern—Stock................... 713
100
5.500.000
- 1st mortgage.................................................\..........
369 1876 100 &c.
6.500.000
. 5
J. & D. N. Y.. Central Trust Co.
Iowa City & Western, 1st mortgage, gold, guar..
73 1879
1,000
584,000
7 g. M. & S.
do
do
- Cedar Ráp. I. Falls & N. W., 1st mort., gold, guar.
55 1880
1,C00
825,000
6 g- A. & O.
do
1st M., gold, guar., red. after’ 90. 182 1881
1.000
1,905,000
5 g- A. & O.
California Pacific—1st mortgage, gold .. ; ................. 114 1867
1,000
2,250,000
7 g. J. & J. N.Y., Eugene Kelly A Co
2d mortgage, endorsed by Central Pacific............ ’ 114 1871
1,000
1,600,000
J. & J. N. Y., Nat’l Park ’BanK.
3d mort7, guár. by C. P. ($1,000,000 are 3 p. c.) . 114 1875
500
3.000¿000
3 & I J. & J. N. Y., Cent. Pacific RR.
California Southern—1st mort. ($25,000 per mile). 132 1882
1,000
3,300,000
6
J. & J.
Boston.
.. Oarñden céAtlantic—Stock ($880,650 of it pref.)—
78
50
1,258,050 4 & 3
Camden, Co.’s Office.
1st mortgage (extended 20 years in 1873)............
78 1853
1,000
490,000
7 g. J. & J. Phila., Farm. & M. B’k.
2d mortgage, extended in 1879...............................
1854
1,000
497,000
6
A. & O.
do
do
Consol, mortgage (thirty years)..................¿.........
1881
1,000
225,000
6
J. & J.
do
do
B r u n s w ic k & W e ste rn .—From Brunswick to Albany, 171 miles»
and 83 miles projected to Columbus, Ga. This was formerly the Bruns­
wick & Albany, and the present company has $3,500,000 pref. stock,
and $1,500,000 common. Mr. Fred. Wolife in New York and a syndi­
cate in Frankfort have taken most of the securities. An extension of
63 miles, Albany to Chattanooga River, is proposed, on which $1,500,000
bonds will be Issued. Gross earninss in 1882, ■8299,474; net, $84,562.
Fred. Wolfe, President, 35 William Street, New York.
B u ffalo B rad ford & P ittsb u rg .—Owns from Carrollton, N. Y.
to Gilesville, Pa., 26 miles. Completed in 1866, and leased to New
York Lake Erie & Western for 499 years. Rental, 7 per cent on out­
standing bonds, $40,600 a year. Capital stock, $2,286,400.
B u ffalo N ew lio rk & E rie .—Owns from Buffalo, N. Y., to Cor­
ning, N. Y., 142 miles. Leased in 1863 to the New York & Erie for
400 years, and now operated by the New York Lake Erie & Western
Co. Rental, $238,100—viz., 7 per cent on stock and bonds and $5,000
for organization expenses. Dividends and interest ¿aid directly by the
lessees. Capital stock, $950,000, and funded debt, $2,380,000.
B u ffalo N ew Y o r k & P h ila d e lp h ia .—A consolidation in Feb.,
1883, of the Buffalo N. Y. & Philadelphia, the Buffalo Pittsburg & West,
and Oil City & Chicago. Mileage as follow s: Buffalo to Emporium, 121
miles; Bradford to Richburg, 39 iniies; Olean to Bradford, 23 miles;
Larrabee to Clermon*, 22 miles; Rochester to Olean, 106 miles; Brad­
ford to Kinzua, 28 miles; Buffalo to Oil City, 139 m iles; Oil City to
Salamanca, 97 miles; N ew castle to Stoneboro, 36 miles; Titusville to
Union City. 25 miles; Nunda to Swain’s, 9 miles; branches to coal
mines, 12 miles: -total operated, 657 miles.
In the consolidation the capital stock of the new company was made
equal to the sum of the capitals of the several companies, the new com­
pany also assuming all the liabilities of each company merged. The
holders of the common and preferred stock of the Buffalo N. Y. & Phila­
delphia Ry. Co. and the Olean & Salamanca RR. Co. received 20 pfer
cent additional stock in kind, which was paid out of the stock then in the
treasury of the Buffalo Pittsburg & Western RR, Co. The stockholders
of the Buffalo Pittsburg & Western RR. Co. and of the Oil City & Chicago
RR. Co. (other than the Buffalo Pittsburg & Western RR. Co.) receive
share for share. The Buffalo Pittsburg & Western RR. Co. received share
for share for all the stock of the Oil City & Cuicago RR. Co. remaining
in their treasury after deducting the 20 per cent paid, to the stockholders
of the Buffalo New York & Phila. Ry,Co. and the Olean <& Sal.'RR. Co.
The consol, rnort. is for $11,000,000, of which $4,000,000 is reserved
for prior liens, and it covers 205 miles of new road and the old 121 miles,
and 16,000 acre* of coal Lands owned by the Buffalo Coal Co. The trust
bonds due in 1912 are secured by $500,000 first mortgage bonds of the
Rochest er Terminal Co. and $700,000 of the first mortgage bonds of the
Olean & Salamanca RR., and $1,600,000 first mortgage bonds of the Oil
City & Chicago RR.
In recommending the consolidation, the annual report of the
Buffalo Pittsburg & Western for 1882 said: “ Your board recommend
that this agreement be ratified by the stockholders of the Buffalo Pitts­
burg & Western Railroad Co., because it will prevent competition in the
largest item of freight transported by either company—bituminous coal.
In 1881, when the two systems were in competition, the Buffalo Pittsb.
& Western RR. Co. carried aboqt 35 per cent of the total coal tonnage.
In 1882, when tne two systems were under the same management, the
tonnage was equally divided; and while the total tonnage increased 20
per cent in 1-82. over 1831, the tonnage of the Buffalo Pittsburg &
Western RR. Co. has increased over 40 per cent in the same time. Bet­
ter rates of freight have also been obtained.”
The combined e;irn!ngs in 1882, prior to the consolidation, were (on
395 miles) $.',516,t 39; net earnings, $1,271,396; interest charge,
$869,455; surplus, $401,941. The interest charge on all bonds is now
about $1,317,000. (V. 35, p. 478; V. 36, p. 55, 169, 195, 251, 479, 559.)
B u ffalo <fc So u th w estern .—Owns from Buffalo to Jamestown,
N. Y., 67 miles. Formerly the Buffalo & Jamestown; reorganized
in 1877 after foreclosure. In July, 1880, leased to New York Lake
Erie & Western for 99 vears—at 35 per cent of gross earnings, but
interest on bonds guaranteed. First dividend Jan., 1883, (V. 35, p
B u rlin g to n Cedar R a p id s & N orth ern .—Owns from Bur
lington, Iowa, to Aloert Lea, Minn, (including 11 miles leased), 25o
.miles; branches-Linn, la., to Postville, la., 94 miles; Muscatine, la to
Riverside, Ia„ 3 1 miles; Vinton, la., to Holland, la., 48 miles; Elmira
la., to Montezuma, 83 miles; Clinton to.Noel, 24 miles; leased. Holland’
to Worthington, Minn , 132 m .: total operated, 713 m. Organized as the
.Burlington Cedar Rapids & Mum., June 30, 1868. Defaulted Nov. 1
1873. Property sola under foreclosure June 22,1876, and given up to
the purchasers July 1,1876.
Bonds .of the Cedar Rapids Iowa Falls & Northwestern road are en­
dorsed (endorsement is on the bonds); the 6 per cent, bonds are’ redeem­
able at 105 after Oct. 1, 1890. Of the 5 per cents $325,000 are reserved
to. retire the (i per cents. The company guarantees the above bonds
mentioned, and also guarantees $150,000 of Minneapolis & St. Louis
bonds.
The annual report for 1882 as published in the .C h r o n i c l e , V,
56, p. 477, said of the expenditures for new road and improve­




Jan.
Jan.
June
Dec.

1,
1,
1,
1,

1913
1896
1883
1916

Sept. 25,1883
July 1, 1896
Dec. 1, 1908»
July 1, 1921
Nov., 1, 1922:
April 1, 1921
Feh. 1, 1896
Apr. 1, 1912
July 1, 1896
Feb. 1, 1896
Oct., 1883
July 1, 1908
June 1. 1906
Sept. 1, 1909
Oct. 1, 1920
Oct. 1. 1921
Jan. 1, 1887
Jan. 1, 1891
July, 1905
Jan 1, 1922
Nov., 1882
Jan.. 1893
Oct., 1, 1904
July 1, 1911

ments since organization: “ The sum thus expended since the organiza­
tion of the compauy to the close of the present fiscal year amounts in the
--aggregate to $1,743,121. While the stockholders, for reasons stated,
have not received dividends upon their stock, the surplus earnings thus,
expended have provided for them a railway with equipment equal to
other first-class lines in Iowa.” * * * “ The company owns 33 miles
of road, exclusive of the Clinton Division, upon which no encumbrance
exists; the Pacific Divis'on, from Traer to Holland, 23 miles; the main
line from Plymouth Junction to Manly Junction, and from Northwood to.
Minnesota State Line, a distance of 16 miles. These extensions were
made by the company and paid for out of surplus earnings. At the
time of the organization of the present company by the bondholdersof the Burlington Cedar Rapids & Minnesota Company, a bonded indebt­
edness of $6,500,000 was created, and the capital stock of the new com­
pany was limited by its articles of incorporation to $10,000,000. The
statute of Iowa provides that corporations formed for pecuniary profit
must not incur an indebtedness at any one time in excess of two-thirds,
of their capital stock. In consequence of the limitations thus imposed
by the statute, the bonded indebtedness of the company cannot be
increased, in excess of $166,000 over and above the amount originally
created, except by an increase of capital stock, and with $4,500,000 of
the capital stock already provided for still remaining in the company’s,
treasury and that issued quoted below par in the market, it is deemed
inexpedient to provide for an increase of capital stock simply for the
purpose of enabling the company to increase its bonded indebtedness^”
For eight months of 1883 gross.earnings were $1,709,367, net $457,091; against $1,714,597 gross, and $557,032 net in 1882.
OPERATIONS AND FISCAL RESULTS.

Operations—
1882.
1881.
Passengers carried................................... ........
439,508
584,740'
Passenger mileage............................................ - 14,876,355
2.7,277,487
Rate per passenger per mile...........................
2*83 cts.
2*34 cts.
Freight (tons) m o v e d ......................................
1,716.182
2,225,655
Freight (tons) mileage.: ........... ................ .
127,994,018 199,087,992:
Average rate per ton per mile........... ............
1*392 cts.
1196 cts*
Bantings—
Passenger.......... ............. .......................... .
$639,506
$122,014
Freight ...........................................
2,092,679
1,782,521
Mail, express, &c....................,.......■........... '...
54,501
68,497
Total gross earnings....'............. ..............
Total operating .expenses (including taxes).

$2,259,>36
1,626,850

$2,800,682
1,883,681

$632,186

$917,001

Receipts—
Net earnings.....................................................
Other receipts...................................................

1881.
$632,183
59,190

1882.
$917,001
78,057

Total income.......... ................ .........................
Disb urscmmls—
Interest on debt............ .......... ......................
Construction and Improvement....................
Equipment........................................................
Other expenditures ........................................

$691,376

$995,058

$424,562
198,270
280,459
13,583

$484,624
71,965
368,502
22,396

INCOME ACCOUNT.

Total disbursements.............................. .
$916,874
$947,487
Balance................................................... .def. $225,498 sur. $47,571
- ( V . 35,p.133,3 74 ,4 5 7 ,7 06 ; V. 36, p. 453, 4 7 7 , 559.)
C aliforn ia Pacific.—Owns from South Vallejo, Cal., to Sacramento,
Cal., 61 miles; branches—Adelante to Calistoga, 35 miles; Doer’s to
Knight’s Landing, 19 miles; total operated, 113 miles. Consolidation
(Dec. 23,1869) of California Pac. and California Pacific Extension com ­
panies. Leased for 29 years, from July 1,1876, to Central Pae. Rental,
$600,000 per annum, and three fourths of net earnings when in excess
of that amount. Capital stock, $12,000,000. Extension bonds o f
$3,500,000 and incomes of $1,000,000 were in default, and the new
bonds of 1875, guaranteed bv Central Pacific, were issued in place
thereof. R. P. Hammond, President, San Francisco.
C alifornia Sou th ern .—This road from National City, Cal., toColiou and pan Be* nardino, Cal., 132 miles, was built by Boston capital­
ists amd opened Sept. 12,1882. The Southern Pacific has shown some
hostility. - Stock, $3,300,000. .For $1,100 in cash eqeh subscriber
received $1,000 in bonds, $1,000 in,stock and $10o in the San Diego
Land & Town Co. stock. Thos. Nickerson, President, Boston, (V. 35,
p. 265, 266, 538.)
Cam den & A tla n tic .—Owns from Camden, N. J., to Absecom
Inlet, 60 miles; Penn. Ave. to South Atlantic, 6 miles; Puff. Marl. &
Med. RR.: Haddonfleld to Medford, 12 miles; total operated, 7 8 miles,
Iu Nov., 1832, 4 per cent paid on preferred stock. Preferred stock*
entitled to 7 per cent if earned, and to as high as paid to common if more,
than 7. Earnings and expenses for three years past have b een :
Years.
Earnings.
Expenses.
Profit.
1886.......
$498,838
$371,626
$127,216
1 8 8 1 . . . . . . ................
512,880
373.864
139,016
1882............
550,405
360,083
190,321
—(V. 35j p. 130; V.36, p. 169.)

O c t o b er , 1888. |

líAILBOAD- STOCKS AND

BOKDS,

S I

Subscribers w i ll confer a great fa v or by g iv in g im m ediate notice o f any error discovered in tliese Tables.
INTEREST OR DIVIDENDS. ’
DESCRIPTION.
Miles
Size, or
Amount Rate per When Where Payable, and by 1Stocks—Cast :
of
Par
Eor explanation of column headings, &c., see notes of
Outstanding
Dividend.
Whom.
Cent. Payable
Road. Bonds Value.
on first page of tables.
31 1867 $500&c.
Camden & Burlington Co,—1st mortgage................
404
100
Canada SouIhertir—Stock........... ..................
1,000
1st inort., interest guar, by N. Y. C. & Hud. R iv.. 404Î 1878
404 1883 l,000&c
2d mortgage, coup, or reg'.....................................
100
Canadian Pacific—Stock.................................. —— 1,730
1881 "500 &c.
Land mortgage bonds, gold................................
1,000
Carolina Central—1st mortgage, gold, coup, or reg. 242 1880
242 1880
1,000
2d inort., gold, income, reg., not cumulative........
158 1880
1,000
3d mort., gold, income, reg., not cumulative........
Carson & Colorado—1st mortgage.......... ................... 158 1881
98
"5 0
Cataunssa—Common stock /.................... - ..................
98
50
New preferred stock..................................- .............
98
50
Old preferred stock................ ..................................
1882
1st mortgage .................. . — i ............. *-.............
93 1870 500 &c.
Mortgage bonds............................ . . . . . ........... .
34
100
Cayuga <£ Susquehanna—Stock..................................
14 1864 500 &c.
Cedar Falls <£Minn.—Bonds on 1st div., sink. fund.
61
500 &C.
Bonds on 2d division, sinking fun d........... ............
1&0
274
Cedar Rapids <&Missouri Rivei— Common stock__
100
Preferred stock, 7 per cent..................... ........
500
&c.
70 1861
1st mortgage.......................... ...................................
58 1863 500 &c.
1st m ortgage.................................. ............... .........
500
&c.
146 1866
1st mortgage ............................ -s........J............... .
1,000
100 1866
Central Branch Qnion Pacific—1st mort., gold —
1,000
1879
Funded interest bonds (coupons held in trust). ..
100 ’66-7-8 1,000
2d mortgage ^Government subsidy)........... .
730
100
Central R. R. <£• Bank, Qa.—Stock.. : ........ .............
620 1872’ 1,000
General mort'. “ tripartite” bonds, coup. ...............
100
1881
Certificates of debt (for dividend)........ .................

$350,000
15,000,000
13.802,937
6,000,000
55,000,000
2,700,000
2,000,000
1,500,000
' 1,500,000
2,250,000
1,159,500
1,000,000
2,200,000
230,500
1,300,000
589,110
210,000
1,377,000
6,850,400
769,600
700,000
582,000
2,332,000
1,600,000
629,000
1,600,000
7,500,000
5,000,000
4,600,000

F. & A. Phila.. Penn. RR. Co.
F. & A. N. Y., Grand Cen. Dep.
J. & J. N. Ÿ.. Union Trust Co.
M. & S.
do
do
N. Y., 63 William St.
A. & 0. Montreal ,N. Y. orLondon
A. & O. N. Y ., Farmers’L. & T.Co.
J. & J.
New York, Office.
do
do
A. & O.
J. & J.

1897 . ■
Aug. 1, 1883
Jan. 1, 1908
Mar. 1, 1913
Aug. 17,1883
Oct. 1, 1931
A p r ili, 1920
July 1, 1915
July: 1, 1910
July, 1911 :

M. & N. Philadelphia Co.’s office
do
M. & N.
Phila., Phila.& Read. Co.
do
do
F. & A.
J. & J. New York, 44 South st.
7
A. & O. N.Y.,J. S. Kennedy & Co
do
do
7
J. & J.
Boston, Treasurer.
Q.—F.
1*2
do
do
3ia F. & A.
7
F. & A. N. Y., Nat’l Park Bank.
F. & A.
do
do
T
do
do
7
M. & N.
6
M. & N. N. Y., 195 Broadway.
do
do
7 g. M. & N.
6
U.S. Tieas., at maturity.
Savannah, Ga.
4
J. & D.
J. & J. N.Yt, Nat. City Bk.&Sav.
7
Savannah, Ga.
6
J. & J.

May 16, 1883
May 16, 1883
Feb. 1, 1902
Feb. 1, 1900
July 1, 1883
April 30,1884
Jan. 2, 1907
Nov. 1, 1883
Aug. 1, 1883
Aug. 1, 1891
Aug. 1, 1894
May, 1916
May 1, 1895
May 1, 1895
1896,’97, ’ 98
July 1, 1883'
Jan. 1. 1893
1891

6
2
5
5
2*2
5 g.
6 g.
6 g.
6
6
3%
31a
6
7

the Canada Northwest Land Co., from which a large amount falls due iii
instalments. The bonds are receivable for land3 and may be drawn and
paid off at 110. Dividends are paid on the stock at 5 per ct. per annum.
The company in October, 1883, had the following lines completed
and in progress :
ComIn
Com- In
pleted. prog.
pleted. prog.
Branches—Emerson..
65
Montreal to Callendar 347
Stonewall. . . . . . ___.
22
Brchs. on Montr’l Div. 102
Pembina and Gretna 113
500;
CaÜend’r to Th’nd’r B. 150
Branch—Sturg’n Riv.
Winnipeg to Kamloops 850
409
100 Kaml’ps to P ’rt Moody 50
to A lg om a __ . . . . . .
173
Thund’rB.to Winnipeg 435
Total m ileage.......2,134 1,182
See C hronicle , V. 36, p. 108, 453, 509, 707 ; V. 37, p. 22; 127, 392.
C arolina C entral.—Owns from Wilmington, N. C., to Shelb^. N C.,
242 miles. Formerly Wilmington Char. & Rutherford, chartered in
1855. Succeeded b y existing company after foreclosure May 3, 1873.
Defaulted, and Receiver placed in possession April 5,1876. Sold in fore*
closure May 31, 1880, for $1,200,000.
In 1881-82, gross earnings,
$603,874; net, $72,812; in 1882-83, gross, $596,328; net, $16$,471.
Wilmington Bridge bonds, $200,000, at 7 per cent, are guaranteed b y
this company and interest paid. The stock of $1,200,000 was placed for
five years from Nov. 1,1879, in the hands of the reorganization com­
mittee. (V. 36, p. 674; V. 37, p. 128.)
Carson & C olorad o.—(3 foot gauge.)—From Mound House Nev., to
Candelaria, Nev., 158 miles; Candelaria to Hawley, Cal.v 143 m iles;
total 301 miles completed to Sept., 1883. Road follows the valleys along
eastern side of Sierra Nevada Mountains and may eventually join South­
ern Pacific at Mojave. Stock, $6,000,000 authorized; $2,250,000 issued.
Gross earnings in 1882, $442,254; net, $246,104. H. M. Yerington,
President, Carson. Nev. (V. 35, p. 430.)
Cedar F a lls & M in n eso ta .—Owns from Waterloo, 111., to Minn.
State Line, 76 miles. ' Leased to Dubuque & Sioux City for 40 years
from January 1, 1867, at $1,500 per mile as a minimum and a con­
tingent of 35 per cent of gross earnings-from $3,500 to $7,500 per mile
and of 30 per cent oi any excess over $7,500 per mile. The Dub. & S, C.
(carrying this road) is leased to 111. Central till 1887, with option to the
lessee of renewing, Capital stock, $1,586,500. A sink, fund of 1 p. ct.
per annum is provided, and some of the above bonds are in the sinking
fund. All operations and earnings are included in Illinois Central re­
Total incom e.... $3,263,111 $4,724,238 $2,908,803 $3,201,096 ports. The minimum rental is $113,370. J. S. Kennedy, Pres’t,N. Y.
2,500,000
2,p00,000
2,500,000
Interest, &c............. 2,500,000
Cedar R a p id s & M issou ri R iv e r .—Owns from Cedar Rapids, r
la., to Mo. River (opp. Omaha), 272 miles; branch, Clinton, la., to Lyons;
Net surplus....... $763,111
$2,224,238
$408,803
$701,096 la., 2 miles; total operated, 274 miles. Léased in perpetuity to Chic. &
Michigan Central, 23
$508,740 $1,482,804
$272,538
$467,396 Northwestern. Rental, $700 of the first $1,500 of gross earnings per
Canada Southern, i3
254,370
741,402
136,269
233,698 mile; 33i3 per cent of next $3,000 per mile, and 20 percent Of any
excess over $4,500 per mile. Gross earnings fiscal year ending Mch. 31,
I n c o m e .—The statement for first six months of 1883 gave this com­
1883, $3.177,192; gross earnings per mile, $11,595. The rental was
pany $313,000, out of which a dividend of 2 per cent was paid Aug. 1. $854,646
disbursements, including dividends and interest, weró
The income account ofJCanacIa Southern for three years was as follow s: $806,420. and
The total balance to credit of income account March 31;
INCOME ACCOUNT.
1883,
was
$836,606.
In 1880 purchased a majority of the Sioux City &
Receipts—
1880.
18811882.
Total gross earnings...................... $3,705,679 $3,369,260 $3,416,959 Pacific Railroad stock. (V. 36, p. 5 89.)
Central B ra n c h U n io n Pacific.—(See Map Page 51.)—Owns from
Net earnings..................................... $1,299,339 $696,915
$819,780
Other receipts........ ......... . . ...........
77,901
9,657
12,010 Atchison, Kan., to Waterville, Kan., 100 miles; leased Atchison Col. &
Pac. 255 miles ; Atch. J. Co. & W., 33 miles; total operated, 383 miles.
Total income........................
$1,377,240 $706,572 $831,790 The Un. Pac. Cent. Branch was formerly the Atchison & Pike’s Peak RR.,
and was one of the roads embraced in the act of Congress incorporating
In^eresimTdebtr.
..................
$407,800
$678,625
$679,231 the Union Pacific RR. The stock js $1,000,000, of which the Union.
Discharge of balances, old lines..
423,286
..........
............ Pacific holds about $900,000. The company received a Government
D ividends........... ..........................(2^) 375,000
....... .
............ subsidy of $1,600,000. Default On interest was made May 1,1873, but
Miscellaneous........................... '....
36,301
88,651
1,059 ño foreclosure took place, It is operated as a part of the-Missouri Pacific
system, under some arrangement with the Union Pao. Fiscal year ends
Total disbursements.............. . $1,242,387
$767.276
$6S0,290 Dec. 31. In 1882 gross earnings were $1,046,119; net, $383,718. Rentals
B a la n c e .....................................Sur. 134.853 Def. 60,704Sur. 151.500 paid $403,000; other paym’ts, $64,110; total, $467,110. Deficit, $83,391.
—Y. 35, p. 455, 576, 637, 657, 737 ; Y. 36, p. 311, 366, 590, 6 4 9 . 707 ;
Central o f Georgia (& B a n k ). Owns from Savannah, Ga., to
Atlanta, Ga., 295. miles; branch, Gordon to Milledgeville, 17 miles;
V. 37, p. 399.)
leased—
Augusta & Savannah, 53 m iles; Eatonton Branch Railroad,
C anadian P acific.—(See Mop.;—This company was incorpo­
rated in February, 1881, »under a charter from the Dominion of 22 miles; Southwestern Railroad and branches, 343 m iles; total opera­
ted,
730
miles; also takes net results-of 170 miles more operated by
Canada. The company has an important contract in its charter, receiv­
In January, 1880, purchased the former
ing from the Government $25,000,000 in cash as a subsidy, also 25,000,- separate companies.
Savannah
& Memphis road—Opelika to Goodwater, 60 miles—for
000 acres of land, all fit for settlement, (of which 6,500,000 acres
have already, been sold), in consideration of the completion and $700,000. In 1881 the control of the Port Royal & Aug.
perpetual operation of the road.
The Government also conveys was bought; also a lease of theGeorgia Railroad for 99 years was
to the company, free of all cost, 713 miles of road, viz., 435 miles taken in the interest of this company. The certificates of debt were
from Winnipeg to Lake Superior and 65 miles from Winnipeg to issued, June, 1881, as a dividend to stockholders—$40 per share to Cen­
Emerson, already finished, and 213 miles now building from Port Moody tral Georgia and $32 per share to Southwestern. | The company owns a
on the Pacific coast to Kamloops, between the Rocky Mountains and large interest in connecting lines and the Ocean Steamsliip Co. of
Cascade Mountains, to which point the company is building from Win­ Savannah. This company and the Georgia Railroad Company are joint
nipeg. The company also acquired 449 miles of road and branches from owners of the Western Railroad of Alabama, purchased at foreclosure
Montreal west to Callendar. at à cost of $5,423,333, which is a lien on sale in April, 1875. The “ tri-partite” bonds are issued jointly by this
_ 1
441 miles o f those, roads. -The road is to extend from Montreal to Port company, the Macon & Western and the Southwestern.
The annual report for the year ending August 31,1883, was in the
M oodyon the Pacificmoist in Brit, Columbia, 2.906 miles,with branches
o f 400 miles, in all 3,306 miles. The authorized-stock is $100,000,000. Chronicle , V. 37, p. 423. The income account has been as follow s:
1881.
,1882.
1883.
There is no mortgage on the road (except the lien above mentioned of
$1,688,918
$2,027,691
$5,423,333 on 441 miles), and the bonds are on the lands only. There are Total net income. ................. $2,147,241
Fixed
charges
and
dividends..
1,457,851
1,972,708
T,982,517
deposited with thè government as security $5,000,000 of these bonds
and there are yet outstanding only the above amounts, remaining after
$45,174
cancellation of bonds from land sales. The company sold 6,452,000 Surplus................................ $689,390 D ef..183,789.
. f
acres of N
its lands for a net amount of about $17,300,000, mainly to —(Y, 35, p. 455, 601 ; Y. 36, p. 559.. Y. 37, p. 4 3 3 .)

Cam den & B u rlin g ton C ounty.—Owns from Camden, N. J.,
to Pemberton, N. J., 23 miles; branch, Burlington, N. J., to Mount
Holly, 7 miles; total, 30 miles. Leased to Camden & Amboy Railroad
Co., and now operated by the Pennsylvania Railroad Company, lessees
o f Uhited Railroad & Canal Company’s lines. Lease rental, $44,415,
being 6 per cent on stock and bonds, and $500 for organization expenses.
Capital stock $381,925 and funded debt $350,000. Dividends in Jan­
uary and July. (V. 36, p. 195.)
Canada Southern.—L ine of R oad —Main line from International
Bridge to Amherstburg, Ont., 229 miles; branch, St. Thomas, Ont., to
Court right, Ont., 63 miles; Erie & Niagara, 31; Sarnia Chatham & Erie,
7 ; Canada Southern Bridge & Ferry, 4 ; Toledo Canada Southern &
Detroit, 55, and Michigan Midland & Canada, 15; total of all lines
operated, 404 miles, of which 105 miles are nominally owned by proprie­
tary companies under separate organizations.
T he Co m pa n y , A lliances , &c.—The corporation was chartered in
Canada Feb. 28,1868, and the main line opened Nov. 15,1873. Default
was .made, and a reorganization forming the existing company was
completed in 1878, and most of the first mortgaged per cent bonds were
exchanged for new bonds bearing 3 ppr cent for three y6ars and 5 per
cent thereafter. Interest on the 1st mortgage is guaranteed by the New
York Central Railroad Co. for 20 years; but the. principal is not guar­
anteed. In Nov.. 1882, a close contract was made with the Michigan
Central for 21 years from Jan. 1,1883, providing for the operation
of the Canada Southern by the Michigan Central, also for the placing of
the total earnings of both roads in a common treasury, out of which is to
be paid, first, the operating expenses of both roads; second, the fixed
charges of both; third, the division of the remainder between the two,
in the rate of two-thirds to the Michigan Central and one-third to the
Canada Southern; fourth, for the raising of $6,000,000 by a 2d mort.
on the Canada-Southern to double-track its line, to build a bridge over
Niagara River, and for other extensions and improvements. On this
basis the total net income of both companies in the past four years has
been as shown below, and the deduction of $2,500,000 for interest and
rentals, which is about the present amount of annual fixed charges of
both companies, would leave the amount applicable to dividends on both
companies’ stocks as presented in the following table:
1879.
1880.
1881.
1882.
Michigan Central... $2,715,836 $3,346,998 $2,202,236 $2,369,306
Canada Southern...
547,275
1,377,240
706,572
831,790




RAILROAD
STOCKS AND BONDS.
jV o l . x x x v i i .




RAILROAD STOCKS AND

OCTOBER, 1883.]

33

BONDS.

Subscribers w ill confer a great favor by giving Immediate notice o f any error discovered in these Tables.
Bonds—Princi­
INTEREST OR DIVIDENDS. •
DESCRIPTION.
pal,When Due.
Miles Date Size, or
Amount
Stocks—Last
Where
payable,
and
by
When
Rate
per
par
of
For explanation of column headings, «fee., see-notes of
Outstanding
Dividend.
Whom.
Cent. Payable
Road. Bonds Value.
on first page of tables.
189 1879 $500<&c.
Central Iowa—1st mortgage.....................................
1880 500 «fee.
Debt certificates, issued for overdue coupons..
124 1882
1,000
1st mortgage, gold, Eastern Division . . . . . . . . . . .
1882
i;o o o
1st mort. on branches ($12,000 per mile)...........
Car trust certificates..................... -................- - - 34Ï
ib o
Central o f New Jersey—Stock........ *......................
1,000
74 1869
Mortgage bonds...................... —
L000
1872
Bonds (convertible Nov., 1875 to 1877).............
1,000
97 1874
Consolidated mortgage (for $25,000,000)..........
7 1867 500 «fee.
Newark & New York, 1st mortgage....................
Lehigh & Wilkesbarre Coal Co., prior hens........
1,000
1875
do
do
Consol m ort.. . . . .
10Ó «fee.
L. & W.B. Coal Co., inc’me bds, rg. (not cum’lat’
1,000
1881
Am. Dock & Imn.Co. new M. bds., guar. C. of N. J.
1878 100 «fee.
Adjustment mort. (redeemable' any time at par)
1,000
1883
Debenturebonds, convertible 1885 to 1907.. ..
GsbYtrusts
.................. ..................................
137
50
Central Ohio—Common stock.................................
137
50
Preferred stock.................................--. ........*—
1,000
137
1st mortgage bonds...............................................
100
2865
Central Pacific—Stock...............................................
742 1865-8 1,000
1st mort., gold, (2 sinking funds, $50,000 each)
1,000
50 1864
California State aid, gold (s. fund, $50,000)....
i;o o o
146 1870
1st m.S. jQaq’n Val. Br., gld (s.f. $50,000)..........
74-2
U. S. Loan, (2d lien on certain terms)................
1,000
1869
158
Western Pacific, 1st mort., gold, (s. f. $25,000).
123 1869
do
Government lien............... ........
1,000
152 1868
Cal. & Oregon, 1st M., gold, guar., (s. f. $100,00
ljo o o
152 1872
Cent. Pae., mortgage, on C. <&O. B ra n ch ....---Central I o w a .—Owns from Albia, la., to Northwood, la., 190
miles • Muchakinock Branch, 2 miles; Grinnell <fe Montezuma Branch,
14 miles; Stoney City Br., 35 miles; Newberg branch, 27 m iles; Belmond branch, 22 miles; total old road, 290 miles. Eastern Division
to Mississippi River, 124 miles, and Illinois Division to Peoria, 90 miles.
Total, 504 miles. To join the Iowa with the Illinois Division until the
Mississippi is permanently bridged, a contract has been made to estab­
lish ferry facilities with a capacity to transfer 200 cars a day. Chartered
as Central RR. of Iowa and opened in 1871. Defaulted and placed in
hands of a receiver in 1873. Reorganized under present title June 18,
1879, after foreclosure sale under first mortgage July 18,1877.
The stock is $9,100,000 common; 1st preferred, $907,000, and 2d pre­
ferred, $1,167,800. First preferred has prior right to 7 per cent
<non-cumulative); then 2d preferred entitled to 7 per cent; any surplus,
after payment of 7 on common stock, to be divided pro rata betweeri
the three classes. In the report of 1882, President Cate discusses the
cfhim of the preferred stock on the income, claiming that it should not
take precedence of expenses for improvements. He also remarks of the
extensions that since 1880 over 300 miles of track have been laid, and
Peoria, 111., reached, and by the lower amount of bonds issued per mile
on the new road, the bonded debt is down to an average of $15,000 per
mile on the new and old lines together, and $1,000 per mile is the annual
interest charge, in lieu of $1,365 upon the old line alone ; with arrange­
ments whereby the Central is released from payment of interest during
the present year upon bonds issued on the last 125 miles of road built in
Iowa, known as the Eastern Division, and from interest obligations on
the Peoria line denominated Illinois Division, until April 1,1885.
The fiscal year ends Dec. 31. The annual report was in the C h r o n ic l e ,
Y. 36, p. 621. The income account for 1882, compared with the preced­
ing year was as follow s:
INCOME ACCOUNT.

Earnings from —
1882.
$244,624
Passengers.........................
Freight...............................................................
910,276
Jdail and express............. ......................- .......
26,603
Rentals.............................................. & ....... . .
16,488
11,116
Miscellaneous.................................................

1881.
$218,283
735,178
20,828
17.198
9,«79

T o ta l................................
$1,209,109
Operating expenses and taxes......................
675,876

$1,001,366
576,759

Net earnings........ , ................................... $533,233
Interest on bonds................ .'......... ...............' $277,000
Interest on car trust certificates...............
25,500

$424,607
$592,000

Total interest....................
$302,500
$259,000
Balance over interest....................... 1___
$230,733 $165,607
— (V. 35, p. 103, 188, 266, 372, 455, 486, 705; V. 36, p. 399, 559, 6 2 1 ,
707, 731.)
C e n tr a l o f N e w J e r s e y .—Owns from Jersey City, N. J., to Phillipsburg, N. J., 73 miles; branches, 30 miles; leased and operated,
in New Jersey, 269 miles, and in Pennsylvania, 201 miles; total
•operated, 573 miles. The principal leased lines in Pennsylvania are
the Lehigh & Susquehanna and the Lehigh <& Lacxawauna, with
their branches, &c. Under the lease of 1883 to Philadelphia <& Reading
themiinimum rental of Lehigh & Susquehanna is $1,414,400 per year
and maximum $1,728,700 till 1888; then $1,885,800 till 1893, and
niter that $2,043,000. In February, 1877, the property was placed in
the hands of a receiver, and on April 1, 1877, default was made on
•consolidated mortgage interest. Reorganization followed. Of the
$11,500,000 Lehigh & Wilkesbarre Coal bonds, $6,116,000 are held
•by Central of New Jersey and receive no interest till all other bonds
are satisfied. The Lehigh & Wilkesbarre Coal Company’s stock is
$8,700,000. and the company was taken out of receiver’s hands in March,
1882. (See report in Y. 36, p. 706.) The American Dock & Improve­
ment Co,, which is virtually owned by the railroad company, issued anew
mortgage in June, 1881, to retire the prior issue and pay off the Central
•of New Jersey floating debt; and the company reserves the right to pur­
chase these bonds by lot at 110. The adjustment bonds are payable at
will. The 6 per cent convertible debenture bonds run positively till
1908, and were issued Oct., 1883, in exchange for the old income bonds
¡and overdue interest, and balance to pay floating debt. In May, 1883,
the road was taken out of receiver’s hands, and from June 1, 1883,
leased for 99 years to the Philadelphia & Reading RR. Co. at 6 per cent
on stock and interest on bonds. From 1878 there were no satisfactory
reports of operations. In May, 1883, the board submitted the following
statement of earnings and expenses on all the lines operated:
1881.
1882.
Gross earnings...'........................................$10,927,593$11,312,296
Operating expenses.................
6,152,795
6,221,225

$3,700,000
629,000
1,475,000
1,900,000
509,000
18,563,200
5,000,000
4,400,000
15,000,000
600,000
4,720,000
11,500,000
3,553,000
5,000,000
5,454,000
4,700,000
3,104,600
2,437,950
411,550
2,500,000
59,275,500
25,884,000
1,500,000
6,080,000
25,885,000
2,624,000
1,970,000
6,000,000
2,080,000

J.
7
A.
7
6 g. A.
A.
6
"2*3
7
7
7
76 <& 7
7
7
5
7
6
6 <&7
3
3
6
3
6 g.
7 g.
6 g6
6 g.
6
6 g.
6 g.

New York, Office.
«fe J.
<fc O.
do
do
<fc O. N. Y., Taintor <fe Holt.
do
do
<& O.

Q .-J .
F. & A.
M. «fe N.
Q -J J. «fe J.

New York, at office.
do
do
do
do
do
do
do
do

Q .-M . N. Y., Cent. RR. of N. J.
do
do
M. «fe N.
do
do
J. «fe J.
M. «fe N. N. Y.. Cent. RR. of N. J.
do
do
Yar.
J. <fc J. Balt., at B. <fe O. office.
do
do
J. «fe J.
M. «fe S.
do
do
F. «fe A. N. Y. <fe San Francisco.
J. <fc J. N. Y., Fisk <&Hatch.
J. «fe J. Sacram’o State Treas.
A. «fe O. N. Y., Fisk <fe Hatch.
U. S. Treasury.
J. «fe J.
J. «fe J. N. Y „ Fisk <fe Hatch.
U. S. Treasury.
J. «fe J. N. Y., Fisk <fc Hatch.
J. «fe J. Nev« York <&London.

July 15,1899
3 mos. notice.
April 1, 1912
April 1, 1912
April i o , 1876
1890
Nov., 1902
July 1. 1899
1887
June 1, 1900
May 1, 1888
July 1, 1921
May 1. 1903
1908
Various dates.
July 3 1 ,1883
July 3 1 ,1883
Sept., 1890
Aug. 1, 1883
1895 t o ’98
July 1, 1884
Oct. 1, 1900
1895 to ’98
July 1, 1899
1899
Jan. 1, 1888
Jan. 1 , 1892

in Chro nicle , V. 36, p. 623. (V. 35, p. 130,213, 235, 372,601; V. 36, p. 169,312, 365,527, 535, 574,590,623, 651,707; V. 37, p. 22, 48, 98,
201,233,423.)
C e n t r a l O h i o .—Owns from Bellaire, Ohio, to Columbus, Ohio
137 miles. Chartered in 1847 and opened in 1854. Reorganized in
1865. Leased to the Baltimore «fe Ohio, for 20 years, Nov. 11, 1866 ;
rental, 35 per cent of gross earnings. Feb. 23, 1880, the lease was
extended to Dec. 1, 1926, with the option of renewing for terms of 20
years perpetually. In 1880-81 gross earnings $1,01)6,025 ; net, $228,267 ;
lease rental, $352,108. In 1881-82 gross earnings. $987,401; net,
$314,932; rental, $345,590. The road between Newark <fe Columbus
(33 miles) is owned jointly with the Pittsburg Cincinnati <fc 8t. Louis
RR. Co. (V. 34, p. 488.)
C e n t r a l P a c i f i c . —L ine o f R oad —Main line—San Francisco, Cal., to
Ogden, Utah, 883 miles, and auxiliary lines, 332; total, 1,215 miles;
operated under lease or contract—the Southern Pacific in California,
Arizona and New Mexico, 1,114; California Pacific, 115, and others.
731; total, 1,960 miles; total length of road operated and accounted for
Jan. 1,1883, 3,173 miles. The Galveston Harrisburg <fc San Antonio was
given up in February, 1883, leaving the miles operated 2,876. In con­
nection with the Union Pacific, the Central Pacific forms a continuous
line from San Francisco, Cal., to Council Bluffs, la. (1,918 miles), and
there connects with the lines eastward. The through route from
Omaha to Sacramento was opened May 10, 1869. The California <fc
Oregon line is being extended nortuw «rd to a junction with Oregon <fe
California, and the whole system requires a map to show it plainly.
T he Ch a r t e r , L eases , «feo.—This was a consolidation (August 22,
1870) of the Central Pacific (organized Oct. 8,. 1864), California <fe
Oregon, San Francisco & Oakland, San Francisco <fe Alameda and San
Joaquin Valley railroads. The act of Congress of July 1, 1862, granted
U. S. bond subsidies and lands to the Pa ific railroads ; the act of July,.
1864, made the lien of the Government subject to that of the first mort­
gage bonds, but authorized the Government to'' withhold one-half the
ehai’ges for transportation-on its account, and also to ree-ive 5 per cent
of the net earnings: the “ Thurman” act of May 8, 1878, directed that
the other one-half of charges for Government transportation should be
withheld, And also that the company should pay $1,200,000 yearly to
the Government for the sinking fund of its debt, or as much thereof as
shall make the 5 per cent of net earnings, plus the whole transportation
account, equal 25 per cent of the whole net earnings for the year. The
leases are numerous and mostly for short dates, and the terms of each
in brief were stated in the C h ronicle , V. 37, p. 47. The most import­
ant leases are those of the Southern Pacific roads, which expire on Jan.
1 and Nov. .1,1885.
Stock and B onds .—The stock has received the following dividends
since 1876, viz.: In 1877, 8 per cent ; 1880, 6 ; 1831, 6 ; 1882, 6 ; 1883,
6. Prices of stock since 1879 have been : In 1880, 63@97!2; in 1881;
801s @10278; in l8 82 , 8238®971s ; in 1883, to last Saturday, 61^*88. Most
of the issues of bonds have sinking funds, as seen in the table above, but
these sinking funds are invested mainly in the Southern Pacific Railroad
bonds, and accumulate; and the bonds are not called in.
The company’s sinking funds amounted Jan. 1,1883, to $6,761,420,
of which about $5,251,000 was invested in the Southern Paeitto bonds,
The land grant bonds are retired with proceeds of land sales. The in­
come bonds fall due 10 per cent yearly.
T he L and G r a n t .—The total land «ranted the Central Pacific and the
California <fe Oregon companies was about 12,000,000 acres, of which
1,031,690 acres had been sold to Deo 31,1882, for $5,002, L63. In
1882,196,472 acres Were sold for $504,533 Land, contracts on hand,
$1,070,976. Lands yet unsold, 10,968,310 acres.
Operation s , F inances , «fee.—The Central Pacific Railroad has had a
strict monopoly of business in the territory occupied by it, and even
in 1883, when five eastern routes are open from the Mississippi River, the
Central Pacific still controls every approach to. San Francisco The
principal questions bearing upon the company’s present and future
status are in regard to the effect of California laws regulai ing rates ; the
Government requirements for sinking fund; and the control of the South­
ern Pacifie road after 1885.
■*
The annual report for 1882 was in the Chronicle , V. 37, p. 47,
giving full account of the operations, a statement of the leased lines
earnings, the terms of agreement with them, &e., «fee.
INCOME ACCOUNT.

1882.
1881.
1880.
Total gross earnings..........
$20,508,113 $24,094,100 $25,662,757
Receipts—
$
8,560,991
9,514,673
7,634,504
Net earnings..............................
281,260
262,500
254,617
Interest on sinking funds.____
711,000
420,000
206,000
Land grant bonds redeemed...
20,000
20,485
54,855
Miscellaneous___, .....................
592,656
348,140
Contract with W., Far. <&Co..

10,809.829
9,573,736
8,492.116
Total incom e...,
$
$
Disbursements—
$
$5,091,071
3,508,292
3,443,413
3,715,325
4,493,794 Interest on debt
3,556,530
3,406,530
3,556,530
Dividends___. . . . . . .
(6)
(6)
(6)
Surplus.........................................$602,655
$597,276 Dividends per cent.
Increased fixed charges for 1882 over 1881 were mainlyfor payment
7,121,855
7,064,822
6,999,913
Total disbursements
o f interest on American Dock <& Improvement Co bonds funded in
_Ji
.
l,-i70,261
3.745,007
2,573,793
1881. As against surplus shown, there are the following charges: Paid __
Balance, _
surplus.
car trusts, construction, taxes, etc., 1881, $535,289; 1882, $638,349. —(V. 35, p. 124, 213, 291, 313. 4 0 3 , 405, 657 ; Y. 36, p.„233, 251, 285,
__ ¿
Interest on income bonds is not charged. See also the Master’s report 352, 509, 623 ; V. 37, p. 4 7 , 189, 343.)
Net earnings..............................................
Interest, rentals, e tc.............




$4,774,798
4,172,143

34

RAILROAD

STOCKS AND

BONDS.

[VOL. X X X V II.

Subscribers w ill confer a great favor fry g iv in g im m ediate notice o f any error discovered in these Tables.
DESCRIPTION.
Ponete—Princi­
INTEREST ÒR DIVIDENDS.
Miles Date Size, or
pal,When Due.
Amount Rate per
■For explanation, of column headings, &c., see notes of
of
Pay
When Where Payable, and by Stocks—hast
Outstanding
on'firsf page of tables. 1
Road. Bonds Valile.
Gente Payable
Whom.
Dividend.
-Central Pacific—( Continued)—
San Fran. O. & A., 1st M. is. f . $100,000).
20 1870 $1,000
$687,000
8
J. & J. N. Y., Cent. Pan. Office. July 1, 1890
Land grant mortgage bonds.
1870
1,000
5,949,000
6 g. A. & 0. N. Y., Fisk & Hatch.
Oct. 1, 1890
Income bds. ($6,000*000), skg.fd.,10 p.c.per ann’m All. 1878
1,000
3,285,000
8 g. M. & N. N. Y. and San Fran.
May 1, 1888
•Charleston <£ Savannah—1st M., C. & S., guar
101 1853
500
505,000
6
M.
&
S.
Charleston,
1st
Nat.
Bk.
March 1, 1877
Funded int. bonds, S. & C. RR., guar, by S. Car
1868 100 &e.
111,800
7
M. & S.
New York.
Sept. 1, 1899
1st mortgage, Savannah & Charleston R R ............ Ï0 Ï 1869
500
500,000
7
J. & J.
do
Jan. 1. 1889
-Charlotte Columbia £ Augusta—1st mort, consol
-191 1869 500 &e.
2,000,000
7
J. & J. N. Y., Nat. Park Bank. Jan. 1, 1895
2dM ortgage........... ................... jfo............
191 1872
1,000
500,000
7
A. tfc O.
do
do
Jan. 1, 1910
. Columbia & Augusta 1st mortgage’ IIIIIIIIIIIIIIII ____ 1865
189,500
Jan. 1, 1890
-Chartiers—Xst mortgage............................
23 1871
1,000
500,000
7
A. "&~0. Philadelphia, Penn R.R. Oct. 1, 1901
•Chesapeake & Ohio—Purch. money funding bonds.. . 428 1878
1,000
2,350,000
6 g. J. & J. N. Y.j Fisk & Hatch.
July 1, 1898
1st mortgage, gold, “ A” , . . ....................................... 503 1878
1,000
2,000,000
6 g. A. & O.
do
do
July 1, 1908
-do
do “ B” _______ _____ _
.
428 1878 100 &c. 15,000,000
M.
&
N.
N.
Y.,
Company’s
office.
July 1, 1908
2d mortgage, cur. (interest in stock or ca s h )...... 428 1878 100 &c. 10,122,500
« g- J. & J.
6
do •
do
July 1, 1918
1st mortgage, gold, Peninsula Extension.............
75 1881
1,000
2.000,000
A.
&
O.
6
g.
N.
Y.,
Fisk
&
Hatch.
Jan.
1, 1911
1st mort., gold, on extension (for $3,000,000)____
1882
1,000
500,000
6 g. J. & D.
do » ■
do
June
1, 1922
Ches. Ohio A|Southwest.—1st M., gold ($19,000 p. m.) 396 1881
1,000
7,356,000
5-6
F.
&
A.
N.
Y.,
52
Exch’
ge
Place.
Feb.
1, 1911
2d mortgage ($11,000 per m ile)..................... .......
396 1881
1,000
4,356,000
6
F. & A.
do
do
Feb.
1,
1911
Paducah & Elizabethtown, 1st m ortgage.............
186 1877
1,000
500.000
6-8
F. & A,
do
do
Feb. 1, 1897
Cheshire—Stock, preferred......................................
..
64
100
2,100,000
1*2 J. & J. Keene, N. H., Office. July 10,1883
Bonds, notmortgage............................. ................. . . . .
....
500 &c.
80U.000
6
J. & J.
Boston.
1,’96&’98
Chicago & Alton—Common stock............. ................
850
100 12,504,600
4
M. & S. N.Y., Jesup, Paton & Co. July
Sept. 1, 1883
, Preferred st’ck (7 p. o. y’rly not cumulative)....... 859
100
2,425,400
4
M.
&
S.
do
do
Sept. 1, 1883
General mortgage, sterling, for £900,000.______
322 1873
1,000
4,379,850
J.
&
J.
6 g.
Lond’n,J.S.Morgan&Oo. July 1, 1903
1st mortgage........... g ................................ ............
220 1863
1,000
2,383,000
7
J. & J. N.Y., Jesup, Paton & Co. Jan.. 1893
Joliet & Chicago, 7 per cent, stock.......................
38. . . . .
100
1,500,000
1%
Q.—J • N. Y. U. S. Trust Co.
Oct., 1883
St. Louis Jack. & Ch., common stock...................
1,293,000
5
Aug. 1, 1883
do
do
preferred stock.......... - ....... . . . .
1,034,000
5
Aug.
1, 1883'
do
do
1st mortgage...................... 150 1864 ‘ 1,000
2,365,000
7 , A. '&"O. N.Y., Jesup, Paton &Co. April, 1894
do
do
1st M. endorsed by C. & A ..
37 1864
1,000
564,000
7
A. & O.
do
do
April 1, 1894
v u a o i ,s i u i i at « ¡Iv ciu iiiu i,—e»wns liom isavannan, e»a., to unaneston Junction, S. C.,104 Miles; operates—Ashley River branches, 4 miles;
■Charleston Junction to Charleston. 7 miles; total, 115 miles. This was
first the Charleston & Savannah Railroad; reorganized in 1869 under
name of Savannah <fc Charleston, and opened March, 1870. Sold in
foreclosure June 7, 1880. and present company organized. Stock,
$1,000,000. Earnings in 1880-1, $301,570; deficit. $11,310. Earnings
in 1881-82, $387,956; deficiency, $73,160. H. B. Plant, President,
New York. (V. 35, p, 291.)
Charlotte C olu m bia Ac A u g u sta ,—Owns from Charlotte, N. CO
to Augusta, Ga., 191 miles. Leases Atlantic Tennessee & Ohio Railroadi
Charlotte to Statesville, 47 miles; Cheraw & Chester, 29 m iles; and
Chester & Lenoir, 90 miles. The Charlotte Col. & Aug. was a consoli­
dation (July 9,1869) of the Charlotte & South Carolina and the Columbia
& Augusta. "The road has been under the control and management of
the Richmond & 'Danville since 1878. Gross earnings in "1880-81.
$626,919; net, $211,990; in 1881-82 gross, $601,624; net, $181,993
Stock issued, $2,578,000. (V. 35, p. 372, 449, 7 3 6 ; V. 36, p. 251; V
37, p. 98.)
‘
C h a r tie r s ,—Owns from Mansfield, Pa., to Washington,' Pa., 23 mSold under foreclosure, and reorganized in 1871. Leased for 99 years
from January 1, 1872, to the Pittsburg Cincinnati & St. Louis; the
rental is net earnings. Gross earnings in 1882, $120,022; net income
$36,818; in 1881, gross earnings, $110,031; net income, $38,218.
Capital stock, $647,850.
° > -r
,
, v 0>^-L0Chesapeake Ac O h io.—OwnsfromNewport News, Ya., to Big Sandy
River, W. Ya., 504 miles; Newport News to Phoebus, 8 miles; coal
branches, 8 miles; totaljoperated, 520 miles. Consolidation of Virginia
Central and Covington & Ohio, and opened through March 1,1873. The
old company defaulted in 1873 and the road was sold under foreclosure
April 2, 1878, and reorganized under present form. The Elizabeth
Lexington & Big Sandy Railroad connects on the west with the Chesa­
peake Ohio & Southwestern, and the Kentucky Central road is con­
trolled m the same interest.
outstanding were as follows to Jan. 1, 1883: Common,
$15,334,513; preferred stock—first, $7,806,138; second, *$8,562,632. The
’’ bonds take interest in 1882-83 4 per cent cash and 2 p. ct. in stock,
thereafter all cash. The second mortgage currency bonds till July,
lS84, t ake interest in second preferred stock, then for two years partly
m that stock and partly cash, and afterwards all cash, if the earnings
are sufficient hut u all interest not paid in cash to he paid in second“
preferred stock.” The cash interest charge in 1883 is $981,000 The
mortgage bonds of 1882 for $3,000,000 are secured on road from New­
port News to old Pt. Comfort, Va., and terminal works; and on a branch
to be built in West Va. from Scary Creek to the Ohio River. First pref.
stock has prior right to 7 per cent from surplus; then 2d pref to
receive 6 per cent; both classes precede the common. The Ches. & O.
guarantees^?00,000 bonds for a grain elevator, but in case of paving
Them will take the elevator.
*
°
Prior to 1882 there had been very large extraordinary expenses charged
■to operating, which reduced the net earnings. For the eight months of
eanungs have been $2,513,813; net, $824,145, against gross
$2,097,360 and net $615,275 in 1882. Earnings and expenses were as
follows m 1881 and 1882:
Years.
Gross Earnings. Op’g Expenses. Net Earn’gs.
.
............. .$2,705,343
$2,267,403
$437,940
1882 . . . — ............................. 3,334,976
2,302-,448
1,032.528
- ( V . 35, p. 182, 313, 404, 657, 705; V. 36, p. 221, 2 5 i, 364, 560; V. 37
p . 2oo.)
’
Chesapeake O hio Ac Sou th w estern .—Owns from Elizabethtown
via Paducah, to Memphis, Tenn., 351 miles; leased, Cecilian branch
o f L. & N., 47 miles. Total operated, 398 miles. This road forms the
western connection of the Chesapeake:& Ohio and the Lexington & Bi"
Bandy. The company purchased the Memphis Paducah & Northern—
Paducah to Memphis—and the Paducah & Elizabethtown, subject to the
-$500,000 mortgage on the latter, and leased in perpetuity the Cecilian
? ra5 ch of Louisville & Nashville, from Louisville to Cecilian Junction,
C T ® ® per annum, witn option of purchasing it. Stock—Common
$6,300,000, and preferred, $3,696,000. Gross earnings for year 1881
on-350 miles, $789;i82; net, $174,796. In 188^ gross earnings
$1,027,598; net, $252,254. (V. 35, p. 71, 78.)
g
ejuun0s,
^ C h esh ire .- ° w n s from South Ashburnham, Mass., to Bellows
Falls, Vt., 54 miles; leased, Monadnock Railroad, Winchendon to
Peterboro, N. II., 16 miles; and 10 miles Vermont & Mass; total 80
miles; but the Monadnock, 16 miles, is not included in the Cheshire
earnings, leaving 64 miles operated. $51,000 rental paid to Vt &
Mass, for leased portion of road. Gross earnings in 1880-81, $622 595 •
$135,410. In 1881-2 gross, $625,075; net income’,
$114,204. Capital stock—common,-$53,300, and preferred, $2,100,000.
Chicago Ac A lto n .—L ine of R oad —Joliet to East St. Louis
(main), 244 miles; Branches—To Coal City, 30 miles; Dwight to
Washington.& Lac’n, 80 miles; Roodhouse to'Louisiana,. 38 milesUpper Alton line, S miles. Total owned, 400 miles. Leased—Chicago
to Joliet, 37 miles; Bloomington to Godfrey, 150 miles; Louisiana
to Cedar City, 101 miles; Kansas City to -Mexico, 162 miles. Total
leased, 450 miles. Total operated, Dec. 31,1882, 850 miles,
r O koanization , Rbases, Stocks and B onds .—Chartered as the'Chic
rim1188*-b F e Jt7,r18i 7: reorganized under aet of Jan. 21,1857, as
Cine. Alton & St. Louts, and under act of Feb. 16, 1861, the present




corporation succeeded to the property, which was sold under foreS r , mi a t e following year and transferred to new organization in
October, 1862. Chicago and St. Loms were connected by the present
hne m 1864. The annual meeting is held the first Monday in April ^
The Joliet & Chicago is leased from January 1, 1864. for the
term of its charter, and forms part of the main line. Rental. 7
per cent on stock.
The St. Louis Jacksonville & Chicago was
leased m perpetuity from April 30, 1868, at a rental equal to 40 per
cent of gross earnings until the amount reached $700,000, with a
minimum of $240,000 a year, and the company is to be merged with
Chicago & Alton and its-stock exchanged for Chicago & Alton stock.
The Louisiana & Missouri River Railroad is leased for 1,000 vears
from August 1,1870. Rental, 35 per cent of gross earnings, but inter­
est guaranteed on secoad mortgage bonds and preferred stock as
° ^ er Preferred stock is $1,010,000 and common stock
$2,272,700. (See its report m V. 36, p. 535.) The Kansas City St.
Loms & Chicago is leased to the Chicago & Alton company in perpetuity
from Nov. 1,1877. at a rental of 35 per cent of gross earnings, less taxes *
and assessments. The Oonds are held by U. S. Trust Co. as security for
the C. & A. bonds of 1878 issued to build this road, and a sinking fund of
$60,000 per annum provided for their redemption. Should the 35 per
cent be more than sufficient to pay bond interest and 7 percent on tne stock, tlie excess is to go to tlie lessees. The Mississippi River Bridge
is leased in perpetuity from December 3,1877, at a rental of $63,000, to
“ e applied in payment of 7 per cent on $200,000 stock, and 6 per cent on
$700,000 bonds.
The Chic. & Alton preferred stock has prior right to a non-cumulative
dividend not exceeding 7 per ct. from net earnings, and (after payment
of 7 on common) also shares with common in any surplus. Prices of
stock have been as follows: Preferred in 1881, 1 4 0 to 153; in 1882,
130 to 146; 1883 to last Saturday, 140 to 150; eommon in 1881, 127 to
156; in 1882, 1271a to 145^2; -1883 to last Saturday, 128 to 137x4.
Dividends have been as follows: In 1877, both stocks, 7*2 ; in 1878,
both 7 ; in 1879, preferred 7, common 6; in-1830, pref. 7, com. 6ks: in
1881 both 8 ; in 1882 both 8 ; in. 1883 both 8.
O p e r a t io n s a n d F in a n c e s .—The Chicago & Alton road has been par­
ticularly strong in having a large local business between Chicago and
St. Louis, so that it was less dependent on through business, which is
done at competitive rates. Its leased lines are as completely controlled,
as if owned, and the system is -compact.
Annual report for 1882 in V. 36r p. 218, had the following: ' “ The rent
paid for the use of the Joliet & Chicago Railroad is fixed, and no separate
account of earnings on that lino is kept. The following tabular state­
ment shows the earnings of the other leased lines for 1881 and 1882.
1881.
1882.
Kansas City St. Louis & Chicago R R ................ $1,263,643
$1,407 688
Louisiana & Missouri River RR. (main line),.
444,820
499’,848
Louisiana & Missouri Riv. RR. (South Br’nch)
50,524
49 711
St. Louis Jacksonville & Chicago RR .............. 1,032,396
1,102,696
Total...............................................
$2,791,385
$3,059,945
“ The earnings from traffic on these lines, and the line from Rooahouse
to Louisiana, including the bridge over the Mississippi River owned by
our company, amounts to 43-55 per cent of the entire gross earnings
during the year 1882.” *< * * “ Less than 20 per cent of the gross
earnings from freight traffic during the last two years has been re­
ceived from transporting farm products of all kinds shipped at local
stations. The increased traffic of the last year has been derived mainly
from increased local shipments resulting from better crops in Missouri,
and from through traffic to and from Kansas and other States west o f
the Missouri River.”
Operations, earnings, &e., have been as follows for four years past.
Fiscal year ends Dec. 31.
OPERATIONS AND FISCAL RESULTS.

Operations—
1879.
1880.
1881.
1882.
Passengers carried.,.
843,429
1,203,549
1,495,606
1,666,991
Passenger mileage... 54,219,072 78,270,565 92,847,464 101,150,959
Rate ^ pass. $ mile . 2-419 cts.
2-Q76 cts.
1-828 cts.
1,951 cts.
Freight itons) moved 2,631,177 '3,071,788
3,275,004
3,522,840
Freight(tons) mileage402,234,396 481,474,730 447,009,977 474,823.908
Av. rate $ ton mile 1-051 cts.
1-206 cts.
1-241 cts.
1-261 cts.
Earnings—
-$
$
$
. $
1,311,708
1,624,668
1,697,542
1,973,100
5,803,484
4,242,791
5,546,869
5,948,12a
Mail, express, &c . . . .
201,178
254,073
313,329
294,271
Total gross earnings.
Operating expenses..

5,755.677
3,049,521

Net earnings..............
P.c. of op.exp. to earn

2,708,156
3,625,401
52-98
52-82
INCOME ACCOUNT.
1879.
1880.
$
$
5,755,677
2,687,225.

Total gross earnings.
Net Receipts—

7,687,225
4.061,824

7,557,740
4,149,713

8,215,494
4,485,881

3,408,027
54-90

3,729,613
54-60

1 8 8 1 .1
$
7,557,740

1882.
$
'
8,215,494

Other receipts............

2,706,156
33,000

3,625,401
269,505

3,408,027
306,791

3,729,613
332,547

Total net incom e...

2,739,156

3,894,906

3,714,818

4,062,160

Net earnings.. . . . .

O c t o b e r ,”' 1883,]

RAILROAD

STOCKS AND BONDS,

/

25

A

Subscribers w ill confer a great favor by g iv in g im m ediate notice o f any error discovered in tliese Tables.
Bonds—Princi­
INTEREST OR DIVIDENDS.
DESCRIPTION.
pal,When Due.
Miles Date Size, or
Amount Rate per When
of
Par Outstanding
of
Where Payable, and by Slocks—Last
For explanation of column headings, &c., see note
Cent. Payable
Road. Bonds Value.
Dividend.
Whom.
on first page of tables.
Chicago & Alton—'Continued)—

-¿’■l "

do
do
2d m ortga ge............. ----La. & Mo., 1st M. ($139,100 assumed by C. &A.)
do
2d inort. (int. guar. C. & A.).......
do
guar. pref. stock...............
Bonds for K.C.St.L.A C. (1st mort, as collateral)
Preferred stock do
guar. C. A A..-........
O. A A. bonds on Miss. Riv. Bridge, 1st mort., gold
Chicago <&Atlantic—1st mort., gold.........................

37
150
101
101

1868
1868
1870
1877

162

1878

249
249
Ohicaao Burlino ton <&Quinci/—Stock..... .................. 3.229
Consolidated mortgage coupon, (for $3o,0o0,oot>) 825
Trust mort.on Iowa lines,coup.or reg.(s.f. 1*2 p.o.) 740
Bonds Den.Ex.(Rep.Val.and B.&Col.bds pledged)
Plain bonds (s.f.lp.C.) for K. C. St. J.A C.B. stock
Debenture bonds for Han. A St. Jo. stock ..........
100
Northern Cross R. R. 2d. mortgage, g o ld .......... .
96
Trust mortgage (Burlington to Peoria).................
Plain bonds (coupon or registered).......................
33
Bonds of 1875, (sinking fund $13,860 per year).
40
Dixon Peoria A Hannibal, 1 st.)
'
70
Ottawa Oswego A Fox Riv., 1st 1Coup., but may
44
Illinois Granff Trunk, 1st mort f be registered.
40
Ouincv & Warsaw. 1st mart . . !
B’ds for St. L. R. I. & C. (sink, fund $50,000) coup. 270
46
Ouincv Alton & St. Louis, 1st mortgage, gnar—
Burl.AM o.Riv..1st on r’d A 400.000ac’sI’d ) Cp.
281
40
do 1st M. on br..C.B.AQ.stk.(5th ser.) V or
do Conv. bonds, C.B.AQ.stk.(6th ser.) ) reg. ....

1877
1880
1883
1873
1879
1881
1881
1883
1860
1864
1872
1875
1869
1870
1870
1870
1876
1876
1863
1869
1870

$1,000
1,000
1,000
1,000
100
1,000
100
1,000
1,000
Too
1,000
1,000
1,000
1,000
1,000
i.ooo
1,000
500 Ac.
1,000
500 Ac.
1,000
1,000
1,000
50 Ac.
500 Ac.
500 Ac.

1879.
1880.
1881.
1882.
Disbursements—
$
$
$
$
Rentals paid............
754,913
1,067,991 1,096,995 1,127,534
Construction i ............
*102,175 ............. .
431.644
71,222
Interest on d e b t.......
561.279
771,360
762,001
761,122
155,961
147,418
171,662
198,621
Taxes..........................
Dividerids....... .
765,776
854,359 1,077,976 1,083,030
60,237 132,743
232,510
97,940
Miscellaneous.................
Jol. A Chi. b’ds red’d.
.........
.........
......... ..... 306,000
Total dishursem’ts.
2,400,341
2,973,871 3,772,788
3,645,518
Balance, sur. o rd e f.. sur.338,815 sur.921,035 def. 57,970 sur.4i6,642
* Kan. C. St. L. & C. net earnings, which were devoted to construction,
in accordance with agreement.
—(V. 35, p. 188,265,404,455; V. 36, p. 2 1 8 ,4 5 3 ; V. 37, p. 127.)
Chicago & A tla n tic .—Opened May 14,1883, from Marion, O., on
line of N. V. Pa. A O., to Hammond, Ind.. 249 miles, and thence over
t i e Chicago A West. ind. to Chicago, 19 miles. Built as a connecting line
for N. Y. P. A O. and N. Y. L. E. AW ., and both these companies guaran­
tee the gross earnings on business over their roads to and from the
Chic. A Atlantic, as security for interest on the bonds. Stock, $10,o00,000, of which $9,000,000 is deposited with H. J. Jewett, President of
N. Y. L. E. & W., in trust to hold and vote on it. (V. 35, p . 51, 211,
237, 405, 546, 705, 707; V. 36, p. 339, 560, 731; V. 37, p. 22.)
C hicago B u rlin g to n & Q u in cy . —L ine o f R o a d .—The C. B. &
Q. is one of the most complex railroad systems in the United States. Its
network of lines in Illinois, Iowa a-nd Nebraska could only be shown in
the S upplement by a map. The main line extends from Chicago, 111.,
to Burlington, Iowa, 204 miles, and thence to Pacific Junction, 206
miles, and from Pacific Junction to Denver, Col., 669 miles, making the
distance from Chicago to Denver 1,079 miles. From Pacific Junction
to Council Bluffs is 18 miles (track used-jointly with K. C. St. Jo. A C.
B.), making the C. B. & Q. line, Chicago to Council Bluffs, 428 miles.
TheExtens. to Denver was opened May, 1882. Besides numerous local
roads the company also has its line in Illinois to East St. Louis, and to
Quincy, connecting with the Hannibal & St. Joseph road (purchased by
, C. B. A Q. in 1883) across Missouri to St. Joseph. The mileage reported
at the close of 1882 was 3,229. In addition to this the company con­
trols and largely owns the St-. Louis Keokuk & N. W. road, 181*2 miles ;
the Kansas City St. Joseph & Council Bluffs, 313 miles; the Chicago
Burlington & Kansas City, 153 miles; the St. Joseph & Des Moines, 50
m iles; and a half-interest with Wabash in the Humeston & Shenandoah
road, 113 miles. Also owns a majority of the stock of Hannibal A St.
Joseph Co., purchased in 1883.
O rganization , Ac.—The C. B. & Q. was a consolidation in 1856 of the
Chic. & Aurora and the Cent. Military Track railroads, and purchased
in 1860the Northern,Cross RR. and in l8 62 the Peoria A Oquawka road.
The present company was a consolidation in January, 1875. of the
Chicago Burlington & Quincy in Illinois and the Barrington A Missouri
River in Iowa. In 1880 the Burlington & Missouri in Nebraska
was absorbed. The leased lines are practically owned and there
is no .charge for rentals in the income accouut, except as interest on
bonds. The ownership in the other roads above-mentioned is in the
stocks and bonds thereof, a‘nd their accounts are kept separate (701
miles in all), and in the balance sheet the cost to C. B. & Q. is put down
as $16,342,893. In April, 1883, the Chicago Burlington & Quincy pur­
chased of Mr. Jay Gould and others the common stock of the Hannibal
A St. Joseph Railroad at the price of about 45, and part of the preferred
stock at par. and paid for these with its$9,000,000 of 5 per cent bonds
at par. The fiscal year ends Dec. 31. Annual election in April.
Stocks and B on s —The stock has been rapidly increased for the
acquisition of new lines, and in 1880 a distribution of 20 per cent in
«took was made. Dividends since 1876 have been; In 1877, 9 per
cent; in 1878, l c ^ ; iu 1879, 8 ; in 1880, 9*4 cash and 20 stock; in
1 8 8 1 ,8 ; in 18-2, 8 ; in 1883,- 8. The prices of stock have been: In
1881, 13312&-18212 5 iu lc8 2 , 1201g'S'141; in 1883 to last Saturday,
1153,pa>12938.
The C. B. & Q. on many of its branch lines gave a traffic guarantee of
40 to 50 per c< nt. which was used in purchasing their bonds. The C. >>
& Q. 4 per cent bonds were issued against Rep. Valley and Bur. & Col.
5 per cent bonds held in trust, and an equal amount of Rep. Valley stock
scrip was also issued to subscribers to the bonds, such scrip being ex­
changed April 1.1882, into Chicago Bui lington & Quincy stock. The
Kansas City St. Joseph A Council Bluffs and branches was purchased,
254 miles, and the Cliic. Burl. & Q. 4 per cent bonds due Sept. 1,1921,
issued to pay for it. Euough of the C. B. A Q. consolidated mortgage
is reserved to take up prior debts. The bonds of 1876 for St. Louis Rock
Island & Chicago Railroad are plain bonds of Chic. Burlington A Quincy,
offset by mortgage of like amount on St. Louis Rock Island A Chicago
road deposited with trustees. There are sinkirig funds for most of the
issues of bonds.
L and G ran t .—The lands were obtained by the consolidations with
Burlington A Mis so ri in Iowa and Binlington & Missouri iu Nebraska.
In Iowa only 2-1,518 iicies remain unsold, and tbe contracts outstand­
ing Dec. 31 were for $1,40 ,79o. In Nebraska the total quantity re­
ceived under the gi ant was 2,365,864 acres, of which there had been
sold to Dec. 31, 1-82, 2, 3 ;,6 )7 acres, for $10 439,6 tO, an average
price of $5 13 per acre. The gross sales lor the year 1882 were 241,175
. acres, for $1,021,5 (6. an aver age price of $ i 25 per acre, and the lands
.reverted 50,196 acres, „representing $241,708, leaving net sales of




$188,000
360,000
1,854,000
300,000
262,100
2,805,000
1,750,000
271,200
700,000
6,500,000
5,000,000
69,814,191
13,986,000
11,496,000
7,968,000
4,300,000
9,000,000
591,000
653,000
547,500
373,000
545,500
1,076,000
890.500
720,000
2,325,000
840,000
4,182,050
74,000
159,500

7
7
7
7
3*2
6 g.
1*2
7-40
6
6 g.
6
2
7
4A 5
4
4
5
4 g.
7
7
5
8
8
8
8
5
5
7
8
8

■
J. A J. N.Y.,Jesup, PatonA Co.
J. A J.
do
do
F. A A.
do
do
M. A N.
do
do
F.-A A.
do
do
M. A N.
do
do
Q.—F.
do
do
Chic.. 111. Tr. A Sav. Bk.
A .'Ä O . N.Y.,Jesup, Paton A Co.
M. A N. New York A London.
h\ A A.
New York.
Q.—M. N. Y., Bk. of Commerce.
J. A J.
do
do
A. A 0.
do
do
F. A A.
do
do
M. A S.
do
do
M. A N.
J. A J.
Frankfort.
A. A O. N.Y., N. Bk. of Com’rce.
J. A J. Boston, Co.’s office.
J. A D.
do
do
,T. A J. N.Y., N. Bk. of Com’rce.
J. A J. New York and Boston.
Boston.
A. A O.
J. A J. N.Y., N. Bk.of Comm’rce
A. A O. Boston, Co.’s Office.
F. A A. N.Y.,Farmers’ L. A T.Co.
do
do
A A O.
J. A J. Boston, Co.’s Office.
J. A J.
do
do

July, 1893
July, 1898
Aug., 1900
Nov. 1, 1900
Aug. 1, 1883
Mav 1, 1903
Nov. 1, 1883
May 20,1881.
Oct. 1, 1912
Nov. 1, 1920Aug. 1, 1923
Sept. 15,1883
July 1, 1903
Oct. 1. 1919Feb- 1. 1922
Sept. 1. 1921
May 1, 1913
July 1, 1890
Oet. 1, 1890.
Jan. 1, 1896
June 1, 1895
July 1, 1880
July 1, 1900
Oct. 1, 1890
July 1, 1890
Oct. 1, 1901
Feb. 1, 1896
Oct. 1, 1893
July 1, 1894
July 1, 1880

190,978 acres, for $782,828, an average price of $4 09 per acre. Cash:
receipts for the year 1882 were $1,433,791. In the assets a re : Con­
tracts on hand, $4,459,849; interest on contracts on hand, $822,230 ;
334,256-81 acres unsold lands, estimated at $2 25 per acre, $749,827.
O p e r a t i o n s a n d F i n a n c e s .—The Chicago Burlington & Quincy Rail­
road has been one of the most profitable in the country, as its numerous
branches tributary to the main line were built into choice agricultural
territory, where they enjoyed a monopoly of the local business at full
rates. Recently the company has greatly extended its lines and in­
creased its stock and bonds, but the latter only at 4 to 5 per cent inter­
est. since it could borrow at tbe lowest rates. The result of the extension
to Denver, the purchase of Hannibal & St. Joseph, and other extensions
remains yet to be fully determined. The increase in stock and debt was
about $74,006,000 in three years, viz., from $53,000,000 January,
1880, to $132,000,000 January, 1883; but the full effect could not he
felt in the interest and dividend charges till 1883. The company gives
no full traffic statistics in its report, and the mileage of freight and pas­
sengers is not known; but corn is by far the most important single
article carried, and in 1880 the rpad brought to Chicago over 40,000,000
bushels, hut in 1882 (after the corn failure of 1881) only 15,000,000
bushels.
In 1883 for eight months gross earnings were $15,725,032, net,
$7,463,098; against gross $12,867,4.79 and net $5,752,290 in 1882.
The last annual report was published in the C h r o n ic l e , Y. 36, _p. 423.
Comparative statistics for four years are as follow s:
ROAD AND EQUIPMENT.

Miles owned and leased
Miles operated jointly.

1879.
1,760
97

1880.
2,675
97

1881.
2,826
98

,

1882.
3,131
98

Total operated.......
1.857
2,772
2,924
3.229
Earnings—
$
$
$
$
Passenger....................... 2,566,652 3,534,209 3,616,086 4,756,992
Freight.............................11.650,623 16,054,197 16,595,819 15,711,510
Mail, express,
599,831
903,641 1,112,245 1,534,802
Total gross earnings... 14,817,105 20,492,047 21,324,150 22,003,304
Total operat’g expenses 7,228,222 9,362,904 10,574,357 10,668,341
Net earnings.................. 7,588,883 11,129,143 10,749,793 11,334,963
INCOME ACCOUNT.

18791
1880.
188.1.
1882.
Receipts—
$
$
$
$
Net earnings. ...........7 ,5 8 8 ,8 8 3 11,129,143 10,749,793 11,334,963
Net B. & M. land grant....................
899,315
1.170,437 1,329,725
Total income............... 7,588.883 12,028,458 11,920,23012,664,688
Disbursements—
$
$
$
$
Rentals paid............. ! . .
• 179,093
203,006
310,668 148,771
Interest on debt........
2,11-0,938
3,282,718 3,430,454 3,883.789
Taxes.........................
328,844
441,590
492,154 615,622
Dividends*............
3.081,985
4,366,064 4,349,286 5,023,599
Carried to sinking fund.
230,493
563,385
687,246 631,443
Accounts written off___
423,085
............
............
Transf’d to renewal f’nd
1,000,600 1,250,000
l.OOu.OOO 750,000
Total disbursements.... 7,354,438 10,106,763 10,269,808 11,053,224
Balanee, surplus.. . . . . '234,445
1,921,695
1,650,422 1,611,464
* In 1879,8; in 1880, 9*4; in 1881, 8; in 1882,.8.
GENERAL BALANCE AT CLOSE OF EACH FISCAL YEAR.

187,9.
1880.
- 1881.1882.. W i
Assets—
$
$
$
$
Ruili-’d, equipm’t, &c.. 69,244,012 109,596,188 117,527,014 133,493,121
Stocks owned, cost.. . ....................
4,540,668 10,581,938 19,318,243
Bills & acc’ts rec’vable
1,304,710 3,520,158 2,64L,433 2,988,015
Materials, fuel, & c.... 753,589 ' 2,074,740'
1,295,190 2,575,996
Cash on hand .............
529,661
1,605.278 1,781,127 2,846,660
Trustees B. A M.l’d gr. 1,695,842 2,223,110 2,440,237 3,137,995
TL-usteesC. B.&Q. s.fd. 1,273,415 1,281,007 1,631,407
197,714
N.Eng. Tr.C.i., trustees
............
566,207
840,708
1,255,133
Miscellaneous........ ........................
............
........
18,503
Total.......................74,801,229 125,404,356 138,739,054 165,831,380
Ltiibilities—
$
$
$
$
Stock, com mon______ 30,883,600 52,773,940 55,263,790 69,578,340
Stock, B. & M ...............
120,850
74,256
73,657
71,355
Stock. Republican Val.
____ _
1,565,000
............
........ . .
Bon is .......................... 27,270.225 44,093,925 51,927,725 62,421,050
Sinking fu n d s ...........2 ,9 6 3 ,0 8 6
3,953,735
4,766,661
4,6.7,071
Cont ngentliabilities.. 3,233,000 10,324,800 7,195,000
6,227,000
Land grant sink. fund. 2,164,015
2,790,370
3,419,844
4,023,105
I icoaie account........ V 4,416,263
119,419
1.769,837
6,652,788
Renewal fund.............. 2,0 >0,000 3,250,000
4,2-0,000
5,000,000
Miscellaneous............. 1,673^582 2.720,704
5,381,174
1,352,622
Profit and loss........ .
76,602
3,738,207 4.091,366
5,888,018
Total....................... 74,801,229 125,404,356 138,739,054 165,831,380
—(V. 35, p. 96* 266, 297,456, 677, 762 p V. 36, p. 29, 312, 4 2 3 , 731 ; V .
37, p. 231, 266.)

m

2 6

RAILROAD STOCKS AND BONDS.

(VOL. X X X V II.

Subscribers w ill confer a great favor by giving Immediate notice o f any error discovered In these Tables.
DESCRIPTION.
Miles
For explanation of column headings, &c., see notes of
on first page of tables.
Road
Chicago Burlington & Quincy—(Continued)—
Bun. & Mo. consol.M.for $14,000,000, s.f. $30,000 191
do
Omaha & S.W., 1st M., guar....
49
Burl. & Mo. bonds, s. f. for Atch. & Neb. RR. stock
Nebraska consol, mort., guar..............
133
Republican Valley RR., sink, fund bonds*.
148
Atchison & Nebraska. 1st mortgage..........
149
Lincoln & Northwestern RR. bonds
72
Kansas City St. Jo. & C. Bl., m ortgage___
274
Li*
00
do
income bonds, reg...
Chicago <6 Canada Southern—1st mort., gold
67
Chic. Detroit & Canada Gr. Trunk Junction—1st M.
59
Chic. & East. III.—Stock. . . . . ............. ......................... .253
1st M., coup. (s. f. $20,000 after ’85)
123
2d mortgage income (non-cumulative).................
123
C. & E. 111. Extension, 1st mortgage.................... .
14
Dan. & Grape Creek RR.—1st mortgage.............. .
12
'Chicago <£ Grand Trunk—1st mortgage, $ and & ... 330
2d mortgage for $6,000,000 ............... ................
330
Northwest. Grand Trunk, 1st mort................ ...”
66
Qhicago <£Iowa—1st mort.,, coup., may be reg.......
80
2d mortgage.......... ........................... ..........
80
Chicago Iowa <&Nebraskctr-S tock.......... .
82
3d mortgage (now 1st).......... ............................. Bfj
82
Chicago Milwaukee <& St. Paul—Com. stock.......
4.520
Preferred st’ck (7 p. c. y’rly, not cumulative)........ 4.520
Consolidated mortgage (for $35,000,000).............
1st mortgage (Lacrosse Div.), con. or re.s
370
2d mort. (Lacrosse Div.) ? Coup., but may be V 370
1st mort. (Iowa & Minn.) 5 reg. by endorsement \ 220

Bonds—Prinoi
INTEREST OR DIVIDENDS.
Size, or
pal,When Due
Amount Rate per
Par
When Where Payable, and by Stocks—Last
Value. Outstanding
Cent. Payable
Whom.
Dividend.
1878 $600&c. $11,441,200
6
J. & J, Boston, Co.’s Office,
1872
1,000
710.000
J. <& D,
8
do
do
1880
1,000
3.347.000
4
A. & O. Boston, N. E. Trust Co
1877
1,000
560.000
7
A. & O. Boston, Co.’s Office,
1879
1,000
939.000
6
J. & J.
do
do
1878 100 &c.
1.125.000
7
M. & S.
do
do
1880
600.000
7
J. & J.
do
do
1877 10Ö&C.
4,495,522
7
J. & J. Boston and New York.
1877
100
2,488,174
6
A. & O.
Boston, at Office.
1872
1,000
2.541.000
A. & O.
Y., Union Trust Co.
1859
100
1.095.000
l * - J. & J N. London,
England.
100
3.000.
000 3
M. & S N. Y., Central Trust Co.
1877 100 &c.
3.000.
000 6
J. & D. New York, 4th Nat. Bk.
1877 100 &c.
767.000
7
Dec. N. Y., Central Trust Co.
1,000
1881
250.000
6
J. & D. New York, 4th Nat. Bk.
1880
1,000
250.000
6
M. & N. Boston, Globe Nat. Bk.
1880 £ 1 00 &C
6,351,016
J. & J. New York and London.
1882
1,000
.3,818,965
5 g& J.
do
«jo
1880 500 Ac.
649.500
6
& J. N.Y., E.P.Beach.B’way.
1870
1,000
600.000
8
& J. New York and Boston.
1871
1,000
1.150.000
8
& J.
do
do
100
3,916,200
4
J. & J. Boston, Merch. Nat.Bk.
1863 50 0 & o .
211.500
7
F. & A. N. Y., Nat. Park Bank.
100
30,904,261
3*2 A. & O.
New York, Office,
100
16,540,983
3*2 A. & O.
do
do
1875
1,000 11,083,000
7
J. & J.
do
do
1863
1,000
5.279.000
7
J. & J.
do
do
1864
1,000
387,000
7
A. & O.
do
do
1867
1,000
3.201.000
7
J. & J.
do
do

Chicago Sc Canada Sou th ern ,—Owns from Grosse Isle, Mich,
to Fayette, O., 67 miles. On Nov. 1,1879, it was transferred to the Lake
Shore & Mich. South. It has a capital stock amounting to $2,667,400
and a bonded debt of $2,541,000, and owes upwards of $1,680,000 over­
due coupons. Original cost, $5,176,557. It is a part of a projected line
between Chicago and Detroit River, but failed in 1873. Augustus
Schell, President, N. Y. City.
yChicago D etroit 8c Canada G rand J u n c tio n ,—Owns from
Port Huron, Mich., to Detroit Junction, 59 miles. Opened in 1859.
Leased to Grand Trunk of Canada. Earnings in 1882, $386,294 ; net,
$69,909. Rental received, $112,500, out of which paid interest, $65,700,
and dividends, semi-annually, each 2 per cent, $43,800. Capital stock,
$978,984. The road is owned by the lessees, but a separate organiza­
tion is maintained in Michigan.
Chicago Sc Eastern I llin o is ,—Owns from Dolton, 111., to Dan'
ville, 111., lOl^a miles; Covington, Ind„ to Coal Creek, Ind., 10*2 miles!
Danville to Sidell’s, 23 miles; leased, Dolton to ‘Chicago (C. & W. I.),
17 miles; Wellington Junction to, Cisna, 13 miles; Evansville Terre
Haute & C. RR., Terre Haute to Danville, 111., 55 miles ; Otter Creek to
Brazil, Ind., 14 miles; Danville, 111., to Covington, Ind., 13 miles;
total operated, 253 miles. The leases of 17 miles, Dolton to Chicago,
and 13 miles,-Danville to Covington, are contracts for use of track over
other roads ; the rental of first is $56,250 per year, and the other (Ind.
Bloomington & Western) is $6,900 per year. The Evansville Terre
Haute & Chicago was leased May 1.1880, for $75,000 per year.
The Chicago & East Illinois was chartered as Chicago Danville &
Vincennes in 1865, and opened in 1872 and 1873. Sold under foreclosurekFeb. 7, 1877, and reorganized under existing style Sept. 1,1877.
In March, 1882, the U. S. Supreme Court reversed the decree of fore­
closure of the Danville road, but granted a,rehearing, on which the
old decree was reversed and the cause remanded. The litigation has
not yet been concluded. Report for year ending June 30,1883, showed
gross earnings, $1,759,132 ; net, $770.191. Payments-Interest, includ­
ing 7 per cent on incomes, $263,774 ; rentals, $199,668 ; miscellaneous,'
$13,862; total payments, $477,304; surplus,' $292,886. (V. 35. p. 21.
78.^373, 404, 4 5 4 ,4 8 6 , 515, 601; V. 36, p. 312, 479, 509; V. 37, p7375,
C hicago Sc G rand T r u n k .—Line.of road from Port Huron, Mich.,
to Chicago, 83012 miles ; also uses 4*2 miles of Chicago & West. Indiana
and 4 miles Grand Trunk J unction RR.; total operated, 339 miles. This
is a consolidation of roads between Port Huron and Chicago formed in
April, 1880, under the control of the Gr. Trunk of Canada. It includes
the former Port Huron & Lake Michigan and the Peninsula roads, sold in
foreclosure. Stock, $6,600,000 in $100 shares. The Grand Trunk of
Canada gives a traffic guarantee of 30 per cent of gross earnings on
business to and from the Chicago & Grand Trunk Road. Gross earnings
for 1881, $1,631,751 ; net, $199,726; for 1882, gross, $2,271,000 ; net
$385,579.; interest charge, $335,568.
Chicago Sc I o w a .—Owns from Aurora, 111., to Foreston, HI., 80
miles; leased, Flagg Centre to Roekford, 24 miles; total onerated, 104
miles. Chartered in 1869 and opened in 1872. In hands of a Receiver.
Gross earnings for year ending Dec. 31,1882, were $525,071 ; net, $88 309. Capital stock, $1,428,000, This road is used by the Chicago Bur­
lington & Quincy to connect with the Hlinois Central, and in Feb., 1882
it was reported to have passed into control of parties interested in
Chicago Burlington & Quincy.
Chicago I o w a Sc N ebraska.—Owns from Clinton, la., to Cedar
Rapids, la. (all steel), 82 miles. Operated by Chic. & Northwestern under
permanent lease, at 3732 per cent of gross earnings. The maximum rent­
al by subsequent temporary agreement has not exceeded $500,000 a
year. Horace Williams, President, Clinton, la. C hicago M ilw a u k e e Sc St. P a u l.—L ine op R o a d .—The company
operates a great consolidated system of railroads in Illinois, Wisconsin,
Mumesota, Iowa and Dakota, which could only be well shown in the
S upplement by a map. An enumeration of the roads seriatim conveys
but little idea of the territory actually covered. The main through
lines are from Chicago to Milwaukee, 85 miles ; Milwaukee to St Paul
and Minneapolis, via La Crosse, 341 miles; Milwaukee to Prairie du
Chien, 194 miles; McGregor (opposite Prairie du Chien) to Chamberlain
Dak., on the Missouri River, 442 miles; Chicago, via Savanna, on thé
Mississippi River, to Council Bluffs, la., 487 miles ; Minneapolis to Aber­
deen, Dak., 288 miles. On Dec. 31,1882, the mileage in Illinois was 313in Wisconsin, 1,181 ; in Iowa, 1,319 ; in Minnesota, 1,058; in Dakota’
648. Total miles operated, 4,520.
•
O rg an ization , & c .—The Milw. & St. Paul RR. Co. was organized Mav
5,1863, and embraced a number of other companies, including the Milwaukee & Miss., the Prairie du Chien, the Lacrosse & Milwaukee, and
otners. The Milwaukee & St. Paul afterward purchased the St. Paul &
Chicago Road and others, and built the line from Milwaukee to Chicago
and on February 11,1874, the company took its present name. Thé
Western Union Railroad was leased in 1879 for 999 years, and the bonds
were retired by the issue of the Chic. Mil. & St. Paul bonds secured by
mortgage on that road. The fiscal year ends Dec. 31. The annual
meetmg.is held early m June.
Stocks and B onds .—The preference o f the preferred stock is a prior
nght to a non-cumulative dividend of not exceeding 7 per cent from
net earnings (except that $250,000 above interest on bonds may be




July 1, 1918
June i , 1896
Jan. 1, 1910
Oct. 1, 1896
July 1, 1910
Mar. 1, 1908
Jan. 1, 1910
Jan. 1, 1907
Jan. 1, 1907
A p r ili, 1902
July 1, 1884
Mar. 1, 1882
Dec. 1, 1907
Deo., 1907
Dec. 1, 1931
May, 1920
Jan. 1, 1900
Jan., 1922
Jan. 1, 1910
Jan. 1, 1900
Aug. 1. 1901
July 2, 1883
Aug. 15,1894
Oct. 15,1883
Oct. 15,1883
July -1, 1905
1893
1884
1897

reserved as a working capital, before payment of the dividend.) After
payment of 7 on preferred and 7 on common, both classes share pro rata.
Dividends paid on the stocks since 1873 have been as follow s: In 1874
7 on preferred in consol, bonds; in 1875 no dividend made; in 1876. 3L>
cash on preferred and 14 per cent in bonds; in' 1877, 312 on pre­
ferred; in 1878,10^2 on preferred; in 1879, 2 ^ on common and 7 on
preferred; m 1880, 1881, 1882 and 1883.7 on both. The range in

1878, 2712®54^8; in 1879, 3438®82is ; in 1880, 66*2 ®114% • in 1881
m m m m . iQ 1882’ 96i2 ®12834; in 1883, to last Saturday, 927s®
Of the increase of stock in 1882 the annual report said : “ The pre­
ferred stock of the company was increased during the year $2 046 000
by the conversion of mortgage bonds into preferred stock, as provided
by the articles of association and the terms of the bonds ” * * * “ in
accordance with authority given by the stockholders at the last annual
meeting, the common stock was increased $7,500,000; $7,101,948 of
wfeicfe was issued at par to tfe.6 stockfe.old.6rs wfeo subscribed for tfeo
same, one half payable in cash and one-half charged to income account."
Of the consolidated mortgage bonds of 1875, enough are reserved to
take up the prior bonds. The latter had a sinking fund of 1 per cent
per annum, but holders may have their bonds stamped and discharged
from the operation of the sinking fund. The Chicago & Pacific Western
Division bonds are issued at $20,000 per mile on new lines built or
acquired. On roads purchased the C. M. & St. P. has usually issued itsown mortgage bonds, directly secured on the pieces of road so purchased.
L a n d s —The lands acquired by the company under different purchasesand consolidations have been closed out, the report for 1882 stating
that the lands had all “ been sold during the year, except about 100,000
acres, mostly in the State of Wisconsin. The net receipts to the
treasury of the company from sales of land during the years 1881 and
1882 are $1,224,364; and the amount now due the company on
contracts and mortgages is $1,787,508; in addition to which
the sum of $210,000 is held in trust to abide the decision of a suit
brought by this company against the Sioux City & St. Paul Railroad
Company, which was by that Court decided in this company’s favor, and
is now pending on appeal in the Supreme Court of the United States."
O p e r a t i o n s , F i n a n c e s , &c.—Thé mileage and also the stock and debt
of this company increased very rapidly in three years, the miles owned
being 2,359 on January 1,1880, against 4,520 on January 1,1883, and.
the stook and bonded debt, in round figures, $69,000,000 on January 1
1880, against $134.000,000 January 1,1883; The main question as to
the company’s income depends on the succëss of so large an amount o f
new mileage, on which the traffic is to be gradually built up, and the
operating expenses meanwhile are considerable. The gross earnings
in 1883 show a large increase over 1882, but as there are no monthly
reports of expenses the net earnings are not known. For 7 per cent
dividends pen annum on both stocks the requirement is $3,100,000, and
for interest on the bonded debt as it stood January 1, 1883, thé re­
quirement is $5,600,000, making the total income needed for those
two items $8,700,000. Remarks as to the floating debt were in the
C h r o n i c l e , V. 36, p. 299 and 329.
The following table shows the operations, earnings, capital account,
&c., for four years:
„
'
1879.
1880.
1881.
1882
2,359
3,775
4,217
4,520
Miles of road.............
OPERATIONS a n d e i s c a l r e s u l t s .

Operations—
1879.
1880.
1881.
1882.
Passenger mileage... 78,119,592 111,561,919 137,940,086 200,790,926
Rate per pass. p. mile 2-93 cts.
2-84 cts.
2'86 cts.
2-58 cts.
Freight (tons) mil’ge.401,595,734 504,876,154 697,347,607 945.250,159
Av. rate p.tonp. mile 1-72 cts.
1-76 cts.
1-70 cts.
1-48 cts.
F]n r 11.i n

q>

îïq

3*159,051
8,884,227
1,042,841

m

a

Passenger........ .
Freight.................
Mail, express, &c*...

2,273,701
6,850,755
888,363

3,938,989 5,179?078
11,884,795 14.002,335
1,201,677
1,205,313

Total gross eam ’gs...
Operating expenses..

10,012,819 13,086,119 17,025,461 20,386,726
5,473,794 7,742,425 10,317,931 12,186,073

Net earnings---- - 4,539,025.
5,343,694 6,707,530 8,200,653
* including elevators, stock-yards, &c.
t Including elevators, stock-yards, personal injuries and damages to
property, legal, insurahee, rent of cars, &e.
in c o m e a c c o u n t .

1879.
Receipts—
$
Balance January l . . i 2,520,074
Net earnings............. 4,539,024
Other receipts. ---- ..*
74,517
Total incom e.......
Disbursements— «
Interest on debt........
Divs. onpref. stook..
Rate of dividend.......
Divs. on com. stock. .
Rate of dividend.......

7,133,615
$
2,287,407
859.564
7
385,106
2*2

1880.
$
3,531,538
5,343,694
324,298

18$1.
$
4,343,283
6,707,530
635,308

1882.
$
5,593,010
8,200,653
623,814

9,199,530 11,686,121 14,417,477
2,837,385
859,564
7
1,078,298
7

4,127,389
887,424
7
1,078,298.f
:

4,786,054
1,032,744
7
1,428,298
7

KAILKOAD

O c t o b e r , 1883.J

STOCKS AND

27

BONDS.

Subscribers w i l l confer a great fa v or b y g iv in g im m ed ia te n otice o f any error discovered in these T a b les.
Bonds—Princi­
INTEREST OR DIVIDENDS.
DESCRIPTION.
pal .When Due.
Miles Date Size, or
Amount
of
Bate per When Where Payable and by Stocks—Last
par
For explanation of column headings, &c., see notes of
Road. Bonds. Value. Outstanding Cent. ' Pay’ble
Dividend.
Whom.
on first page of tables.
Chicago Milwaukee A St. Paul—( Continued) —
49
1st mortgage (Minnesota Central).
....
1st mortgage (Iowa & Dakota)___
335
1st M.,Ia.«fcDak.Ext. ($15,000 p.m.) Coup., but
may be
235
1st mortgage (Prairie du Chien)...
235
2d mortgage (Prairie du Chien)... registered
Milwaukee & Western..................... by end’rsement.
130
St.P.&C.lst M.(Riv. D.)$&£(conv.)
75
1st mortgage, Hastings & Dakota.
85
1st M., Chic. <fe Mil. line ................
1
Bonds on Lac’se &Dav. Div., for Dav. <fc Nw. RR. 160
212
1st mort, on S. W. Div. Western Union R R ......... .
1st mort, on Chic. & Pac. Div., Chic, to Miss. Riv..
1st mort, on So. Minnesota Div. ($9,000,000)---- 54Ó
Land grant income bonds............. .
Land grant and income bonds.........
1st mort, on Hastings «fe Dakota m v. extended .. 158
1st M.on Cli.Cl.D.«fcM. ($700,060 of this heldin tr.) 300
107
1st mort, on Wisconsin Valley RR.
107
Prior mort.
do
1st mortgage, Mineral Point Division.................... 142
68
1st mortgage Chic. <fr Lake Superior D iv.,.............
IstM.Wis. & Minn. Div. ($20,000 p. m .)............... 143
IstM., gold, on Chic, «fe Pac., W. Div., $20,000 p.m. 719
47
Dubuque Southwestern, 1st m ort...
Chicago A Northwestern—Common stock................ 3.584
Preferred st’ek (7 p. c. y ’rly, not cumulative)........ 3,584
Bonds, pref. (sink’g fund), 1st mort. , Chic, to Osh. 193
Interest bonds, funded coup., 2d m., Chic, to Osh. 193
193
1st mort., general, 3d mort., Chic, to Oshkosh---1879.
$
70,000
3,531,533

M i s c e l l a n e o u s ___
Balance, Dec. 3 1 ...’..

1830.
$
81,000
4,343,283

1881.
$
---- . . . .
5,593,010

1864
1869
1878
1868
1868
1861
1872
1872
1873
1879
1879
1880
1880
1883
1380
1880
1880
1879
1880
1881
1881
1881
1863
1859
1862
1859

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

$123,000
541,000
3,505,000
3,674,000
1,241,000
215,000
3,805,000
1,000
89,000
1,000
2,393,000
2,500,000
1,000
4,000,000
1,001
3,000,000
1,000
7,432,000
__
278,000
1,000
1,600,000
1,000
5,290,000
1,000
6,710,000
107
1,700,000
500
1,106,500
1,000
2,840,000
1,000
1.360,000
1,000
3,335,000
1,000 14,380,000
1,000
64,000
100 26,502,755
100 22,323,190
100 «fee.
971,400
676,300
10.0 «fee.
100 «fee. 3,440,300

1832.
$
3,550,974
3,619,407

Total disbursements..7,133,615
9,199,530 11,686,121 14,417,477
GENERAL BALANCE AT CLOSE OF EACH FISCAL YEAR.
1879.
1880.
1881.
1882. Assets—
$
.
$
*
$
Railroad,equipm't,«fcc 63,399,44899,185,683 120,073,630 138,015,099
St’cks&b’ds own.,cost
7,133,028 2,163,567 1,265,364
768,846
Bills&acc’tsrec’vable
483,604
783,992
663,641 2,361,234
Materials, fuel, &c. ..•
385,971
564,715 1,028,764 1,495,113
Cash on b a n d ............
801,694
382,951
555,200 2,969,732
D ayen.& N’w estR R . 1,750,000
. ............
............
........
HI. & Iowa coal lands
..........
............
503,119
689,578
Cash due on st’k subs
........
........
1,129,215
Miscellaneous items..
112,329
232,736
417,660 . 255,061
Total assets___ . . . ..
Liabilities—
Stock, common..........
Stock, preferred........
Bonds (See Supplm ’T)
All other dues <fcacc’ts
Income a cco u n t......
Unpaid pay-rolls, &c.
Land department. . . .
Advances...................

74,066,074 103,313,644 125,636.593 146,551,663
$
$
$
$
15,404,261 15,404,261 20,404,261 27,904,261
12,279,483 12,404,483 14,401,483 16,447,483
41,349,500 67,172,000 79.059,000 89,635,500
789.927
2,067,165
3,899,002 4,913,872
3,531,538 4,343,283
5,593,011 3,619,408
711,365
1,048,541 2,279,836 2,216,630
............
.......... .
..... .....
1,787,509
....... .
873,911
.......

Total liabilities... 74,066,074 103,313.644 125,636,593 146,554,663
—(Y. 35, p. 21.23, 182, 211, 431, 456,487,574, 576, 637. 658. 763;
V. 36, p. 18,139, 195. 2 9 9 ,3 1 2 ,3 2 9 ,4 5 1 ,6 5 3 ; V. 37, p. 48, 98, 175,
234.)
C hicago & N orth w estern .—Line of Road—The Chicago & North­
western operates 3,584 miles of its own roads and control« 1,150 miles of
the Chic. St. P. Minn. <fcOmaha; total controlled, 4,734 miles. Themileage
is too extended for enumeration, and could only be shown clearly by a
map. The main line from Chicago to East Omaha, Iowa, is 492 miles,
and this forms practically the southern boundary of the whole system,
the company having nothing to.the south of that line, with the excep­
tion of a few insignificant branches. At the end of the fiscal year, May
31, 1883, the Chic. & Northwestern mileage was made up in the annual
report as follows :Wisconsih Division, 555 miles; Galena Division, 313
m iles; Iowa Division, 653 miles; No. Iowa Division, 369 miles: Madison
Division, 467 miles; Peninsula Division, 374 miles: Winona <fe St. Peter
Division, 448 miles; Dakota Division, 404 m iles; total, 3,584 miles.
Organization, &c.—The Chicago St Paul & Fond-du-Lac Railroad,
which was a consolidation of several roads, was sold in foreclosure
June 2,1859, and the Chicago <& Northwestern Railway was organized
as its successor. In 1864 the company absorbed the D ixon. Rock. &
Kenosha, the Gal. & Chic. Union and the Peninsular RR. of Michigan,
and has since absorbed by consolidation a larg'e number of other roads,
including -hose which were operated as “ proprietary roads,” and this
process will go on till all those roads are absorbed into the main com­
pany. The fiscal year ends May 31. The annual meeting is held early
In June.
Stock and Bonds.—Preferred stock has prior right to 7 percent;
then common entitled to 7 ; then preferred has a further prior right to
3 per cen t; then common to 3 ; then both classes share. But the pre­
ferred stoek has not, yet received more than 8 per cent in any year,
against 7 per cent paid on the common. Dividends since 187 j have
been: In 1876, 2*2 on pref.; in 1877, 3*a on pref.; in 1878, 7 on pref.
and 5 on com.; in 1879, 7 on pref. and 5 on com.; in 1880. 7 on pref.
and 6 on com.; in 1881, 7 on pref. and 6 on com.; in 1882, 7% on pref.
and 7 on com. Prices of stock since 1877 have been as follow s: Com­
mon in 1878, 3212W5514; in 1879, 495g®941« ; in 18*0, 87*8® 130: in
1881, 117® 136 ; in 1882, 124® 150%; in 1883 to last Saturday,
140*8. Preferred in 1878, 59%®79*a; in 1879, 7678® lo$;
in 1880, 104® 146*2; in 1881, 131*8®147*2; in 1882,136® 175; in 1883
to last Saturday, 134®157.
The sinking fund bonds of 1879 are secured by a deposit of mort­
gage bonds, bn the new roads acquired at the rate of $15,000 per
mile, and the terms under which these are issued were published
In V. 29, p. 277. The deed sets forth that this company issues its
sinking fund bonds, to run 50 years from the 1st dav of October.
1879. interest not exceeding 6 per cent, and in amounts not exceed­
ing $15,000 per mile of railroad actually constructed or acquired.
Of these bonds so far issued, $6,305,000 are 6s and the balance
5s. There are several small issues of bonds (all less than $200,000
eaoh) in addition to those in the table above, viz,: Appleton exten­
sion, $116,000, 7s, due 1885; Green Bay extension, $180,000, 7s. due
1885; Mississippi River bridge bonds, $¿53,000, 7s, due 1884; Beloit &
Madison RR., «176,000. 7s, due 1888: Minnesota Valley RR., $150,000,
7s, due 1908 : Plainview, $100,000, 7s, due 1908; Peninsula Railroad
(Mich.), $154,000 7s, due 1898.
In December, 1882, a controlling interest was acquired in the stock of
the Chic. St. Paul Minneapolis & Omaha Co. by the purchase of 53,800
shares of preferred and 93,200 shares of common stock, and in April,
1883, the $10,000,000 debenture bonds were issued to pay for the




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7
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7
7
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J. & J.
New York, Office.
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do
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do
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Boston.
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J. & J.
New York, Office.
do
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1894
1899
July 1, 1908
1898
1898
1891
Jan., 1902
1902
1903
1919
July 1, 1909
Jan. 1, 1910
Jan. 1. 1910
1890
Jan. 1, 1890
Jan. 1, 1910
July 1, 1920
July 1, 1920
Jan. 1, 1909
1910
July 1, 1921
July 1, 1921
Jan. 1, 1921
Oct., 1883
June 28, 1883
Sept. 29,1883
Aug. 1, 1885
Nov. 1, 1883
Aug. 1, 1885

stoek; the sinking fund for these bonds is $200,000 per year from
May, 1688, if they can be redeemed at 105.
- >
Land Grant.—The lands of the company have been acquired by the
purchase of the Winona <fe St. Peter and other roads that have been
consolidated. The Commissioners’ report for 1882-83 showed thatfthe
total consideration for the lands and lots sold in 1882-83 amounted to
$1,205.546. The number of acres which were actually deeded from
the various grants during the year was 200,545, and the number" of
acres under contract of sale at the end of the year was 387,399. The
receipts from cash sales and advance payments amounted to $667,500;
from time payments on credit sales, $235,437; from interest on con-,
tracts, $58,788; and from trespass on timber lands and stumpage,
$64,717. Total cash receipts, $1,026,444. The statement of amounts
secured to De paid to the company by outstanding contracts of sale in
force at the end of the fiscal year showed a total of $1,019,241.
TABLE OF LAND GRANT LANDS FOR YEAR ENDING MAY 31, 1883.*
Acres deeded Acres under
Lands un­
Acres
during
sold May
unconveyed '
contract.
Name of
May 31,’82.
31,1883.
year.
May 1883.
grant.
784,532
328,482
133,839
Minnesota... . 1,246.854
57,296
485,677
512,090
55,547
Michigan__
1,621
6,044
320,125
Wisconsin ..
327,792
91,544
5,113
*Men. River.
T ota l.. . . . 2,178.281

200,545

387,399

1,590,336

*Transferred from Men. Riv. RR. grantto Mich, land grant, 86,431 acres.
Operations, Finances, &c.—The Chicago <fc Northwestern Railway
has pursued the policy of extending rapidly its, lines, including those
reaching far west to Dakota, and since 1879 has raised its money in
great part by the sale of 5 per cent bonds. The stock has not been
rapidi}' increased (un1il recently by the issue of new stock for stocks of
proprietary roads) and a large nominal surplus has been rolled up in
the balance sheer; (see articles in the Chronicle, p. 163,174.)
The latest annual report (1882-83) was in the Chronicle, V. 37, p.
174, and the following comments were made upon it :
“ The annual report of this company, just issued, is a comprehen­
sive and interesting document, as usual. It gives a tolerably clear ex­
hibit of the operations and financial condition of the immense system of
railroads controlled by the company, except in two important particulars,
na'mely, as to the disposition of the cash receipts from land sales,
amounting to $1.026,444, and as to the actual surplus assets of the com­
pany, which represent its cash investments not heretofore balanced by
issues of stocks or bonds.” " * * “ As to the investments in proprie­
tà y roads, the general balance sheet gives the only information, and as
numerous items are carried on both sides of the account, it is not easy
for the average reader or stockholder to understand precisely the mean­
ing of the figures, so far as they indicate the comp any’s surplus. A few
explanatory remarks in the President’s report might make the whole
matter clear. On page 163 of the Chronicle to day an article will be
fouud which analz ves the balance sheet in regard to the items here men­
tioned.” * * * “ Tue net income applicable to dividends, over interest,
rentals, and all charges, was $4,051,616, against $5,378,075, a decrease
of $1,326,458.”
The following were earnings, expenses, &c., for all lines operated :
OPERATIONS AND FISCAL RESULTS.
Operations—
1879-80.
1880-81.
1881-82.
1682-83
Pass’gers carried. 3,964.798
4,482,317
6,754,717
7,968,560
Pass’ger mileage.140,116,884 164,333,508 205,574,178 248,856,303
Rate p. pass. p.m.
2 ,67' cts.
2 ’53 cts.
2'52 cts.
2‘46 cts,
Fr’ght(tns) mov’d 5,574,«35
6,662,112
8,190,893
7,874,665
Fr’ght(tns) mil’ge865,909,542 980,522,774 1,192,188,039 1,186,829,358
Av.ratep.tonp.m
1-49 cts.
1’47 cts.
1 4 7 cts.
1’42cts.
Earnings—
$
*
$
$
$
Passenger..........
3,737,343
4,158,130
5,171,423
6,119,616
Freight................ 12,897,778 14,414,151
17,525,134
16,394,352
Mail, express, «fee.
714,228
761,791
988,099
1,067,867
Tot.gross earns. 17,349,349 19,334,072
Expenses—
f
Maint’nee of way")
“
cars, <&c j
9,979,619 j1
Transportation.. - 8,049.358
i
Mi-cellaneous__ j
446,202
382,241
Taxes ..................
T otal.:..............
Net earnings.....
P.c. op.ex.to earn.

23,684,656
3,574,419
1,786,140
6,327,258
429,259
522,558

8,431.599 10,425,821
12,639,634
8,917,750
8,908,251
11,045.022
48'59
53'92
53 3 7
INCOME ACCOUNT.
1879-80.
1S80-81.
1881-8 2.'
Receipts—
'
$
$■
$
Net earnings....... 8,917.750
8,908,251
11,045,022
Disbursements—
$
$
$
Rentals paid....... 1,408,003
1,384,732
1,569,618
Interest on debt. 3,322,015
3,647,897
3,999 203

24,081,835
3.372,994
2,322,099
7,261,952
496,686618,785
14,072,516
10,009,319
58-44
1882-83.'
$
10,009,319
$
1,570,948
.4,388,633

2 8

EAILKOAD STOCKS AND

BONDS.

■VOL. X X X V II

Subscribers w i ll confer a great favor by givin g im m ediate notice o f any error discovered in these Tables.
DESCRIPTION.
INTEREST OR DIVIDENDS.
Bonds—Princi Miles Date Size, or
pal,When Due."
Amount Rate per
For explanation of column headings, &c., see notes of
of
’ Pair
When Where Payable , and by Stocks—Last
on first page of tables.
Road Bonds Value. Outstanding
Cent. Payable
Whom
Dividend. Chicago <&Northwestern—(Continued) —
Consol, sinking fund mortgage,........................
779 1865 $ 1,000 $7,033,000
Madison extension, 1st mort., sinking fund,'gold
126 1871 500 &c.
2,987,500
Chicago & Milwaukee, 1st mortgage . ...
85
1,000
1.700,000
Menominee,River. 1st moft., guar............. ..
25 1876
560.000
Menominee extension, 1st mortgage, g ö iä . " " ” "
120 1871. sod m
2,559,000
G m. cons more., gold, coup, or reg, ($48,000*,Ö0Ö) 1,058 1872 500 &c. 12,343,000
Winona & St. Peter, 1 ^ mort., guar by Chic.&NW. 137 1870-1 1,000
2,469,000
do
2d mort., guar, by Chic. & N.W. 137 1870-1 1,000
1,592,000
do
1st M. extern, gld, land gr.,s. f . . 175 1871 100 &c.
4,091,500
Iowa Midland, 1st mort., guar, by Chic. & N. W
75 1870
1,000
1,350,000
Northwestern Union, 1st mortgage, gold.............
62 1872 500 &c.
3,374,000
Rochester & No. Minnesota, 1st mortgage............
24 1878
....
200,000
Chic. Mil. & N. W., construction bonds..................
750.000
Chicago & Tomah, 1st mort., guar....'....................
1,528,000
Milwaukee & Madison. 1st mort., guar..................
80 1880
1,000
1,600,000
Sink. fd.bds.(lstM. as collateral) ($15,000 p. m.L.
1879
1,000 14,090,000
. S. f. debenture bonds (for C. St. P. M. & O. stock)
1883 l.OOO&c 10,000,000
Des M oines* Minneapolis RR. 1st mort. Bonds...
1882
1,000
600,000
Esoanaba & Lake Superior RR., 1st m o r t ...........
1881
1,000
720,000
Dakota Central RR.,.1st mort............................
....
....
1,065,000
do
1st M., Southeast Diy. (for $2,000,000).
....
....
1,000,000
Other small issues (see remarks below) ........ ......
1,041,000
Chicago Pekin & Southwestern—1st mortgage........
96 187*1
1,000
1,000,000
2d m ortgage,...-...'........................................ .....
96 1876
....
750,000
Chicago Rock Islands Pac —St’ck (for $50,000,000) 1,381
100 41,960,000
1st mortgage, coup, or reg ................ .-................. . 636 1877 l.OOO&c 12,500,000
Chic.& Southw., 1st M.g. (g’d in cur. by C.R.I.&P.) 271 1869 100 &c.
5,000,000
Chicago St. Louis <&Pittsb.—Common stock___......
582
100 10,000,000
Preferred stock (6 per cent cumulative)............... 582
100 20,00*0,000
1879-80.
Dividends............
Kate on pref
Kate on com mon.
Miscellaneous___

2,405,521
7

1880-81.
$
2,420,273
7

107,562

98,120

6

6

1881-82.
$

2,586,637
7 14
6^
98,120

1882-83.
$
2,890,337
87
98,120

Tot.disb’rsem’ts 7,243,101
7.551,022
8,253,583
8,848,038
Balance, surplus. 1.674.649' 1.357.229
2,791.439
1,161,281
GENERAL BALANCE AT CLOSE OF EACH FISCAL YEAR.
Assets.
1880-81.
1881-82.
1882-83.
■Chic. & N. W. —Road & equip.. $74,120.342 $76,739,549 $80,420,032
Cthcr companies
do
48,311.241
54,679,521
55,668,872
200,000
Real estate in Chicago............
200,000
200,000
Des Moines & Minn. RR . . . . . .
363,809
.Bonds owned,...........................
1,233,235
865,819
*2,9 i 3,219
Bills and accounts receivable.
1,125,779
1,232,033
1,245,918
1,255,098
Materials, fuel, «fee...................
2.291,340
2,526,482
Cash on hand...........
1,977,865
1,760,608
2,710,498
Trustees’ sinking fu n d ___. . . .
1,117,000
1,321,000
1,525,000
. T o t a l.........................
$129,704,369 $139,139,871 $147,210,021
Liabilities.
Stock, common t .................... $15,093,488 $15,095,924 $16,229,916
21,650,783
Btock, preferred t.....................
22,153,119
22,323,190
Stocks of propriet’ry roads,&o 21,244,650
22,883,150
22,463,400
Bonds i (See S upplement ) . . . .
57,006,000
64,248,000
69,821,000
Bonds purchased..... .........
363,000
366.000
460.000
Divid’ds declared, not yet due
831.481
971.185
1,023,406
1,117,000
Sinking funds p a id ..................
1,321,000
1,525,000
Real estate, mortgages, & c.. . .
t482,766
404,774
Current bills, pav-rolls. «fee....
2,529,390
2,141,31 L
1,965,653
Uncollected coupons, &c........
63,786
74,829
82,668
Rentals of roads in la ., not due
272,232
439.935
530,364
General consol, bonds unsold.
530,000
407.000
284.000
Note of Consol. Coal C o ..........
..........
300.000
Land income.............................
303,046
689',53 4
1,033,565
675,430
Accrued interest not due ____
675,430
675,395
Miscellaneous...........................
17,329
4,098
66,601
Balance income a cco u n t......
7,533.987
7,264,582
8,425,863

7
7 g.
7
7
7 g.
7 g.
7
7
7 g.
8
7 g.
7
6
6
6
5&6
5
7
6
6
6
7
8
1%
6
7
....

Q.—F. New York, Co.
A. & O.
do
T. & J.
J. & J.
J. & D.
J.
M.
J.
A.
M.
M.
M.
M.
M.

& J.
& N.
& D.
& 0.
& S.
& S.
& N.
& N.
& S.

M.
F.
7.
M.
M.

&
&
&
&
&

do
do
do
do

N.
A.
J.
S.
N.

do
do
do
do
F. & A. N. Y., Farm. L. & T. Co.
M. & N.
Q.—F. New York. Oo.’s OflfW
J. & J.
do
M. & N.
do
do

Feb. 1, 1915
A p r ili, 1911
July 1, 1898
July l , 1906
June 1, 1911
Dec. 1, 1902
Jan. 1, 1887
Nov. 1, 1907
Dec. 1, 1916
Oct. 1. 1900
June 1, 1917
Sept. 1, 1908
Nov. 1. 1905
1905
Sept. 1, 1905
Oct. 1, 1929
May 1, 1933
Feb. 1. 1907
July l ,11901
Sept. 1, 1907
Nov. 1, 1907
Aug. 1, 1901
Nov. 1, 1906
Nov. 1, 1883
July 1, 1917
Nov., 1899

....

irum
to $1,403,483 during the year
The amount received for interest, &e., has been $99,445. The land office
has remitted during the year to the Treasurer of the company at New
York the sum of $5t>0,000 from its net receipts. ■The unsold lands of the
company comprise only about 34,750 acres.
0
O perations , F inances . &c.—The company has been very successful
and well managed,-and, including scrip dividends, has paid its stock­
holders handsomely. The receipts from lands will soon bo out of the
year ending March 31 was in the
Chronicle , Y. 36. p. 730, and had the follow ing: “ As compared with the
previ ius year, the movement of passengers one mile increased 16-89 n et
The gross earnings from passenger transportation increased 16*81 ner
cent. The average tonnage-movement decreased 8 per cent
The
rate per ton per mile decrease ! from 1*28 cents to 1*11 cents. The »toss
earnings from freight transportation decreased 8-6 per ce n t” °The
mneage, earnings, &c., have been as follows for five years past:
1879-80.
1830-81.
1S81-S2'.
1882-83.
Miles owned & oper..
1,311
1,353
1,331
1,331
Earnings—
$
$
$
$
Passenger.................. 2,318,452
2,500,135
2,853,331
3,333,069
Freight...................... 8,035,165
8,690,480 9,687,097
7,928,236
Mail,express,r’nts, &c
708,045
766,292
726,215
928,598
Total gross earn’gs. 11,061,662 11,956,907 13,266,643 12,189,903
Total:............. . . . . 5,796,541
6,630 156 7,322,862
7,109,817
Net earnings............. 5.265.121
5.326.751
5.943.781
5.080.086
P.c of op. ex, to earn.
52*40
55'45
55*20
5833
INCOME ACCOUNT.

Receipts—
Net earnings........
Miscellaneous............
From land departm’t

$
5.265.121

Total income____
Disbursements—
Rentals paid.............
Interest on d eb t.......
Dividends................
Rate per cent..-........
Miscellaneous . . . . . . .
Add. and imp. acc’t.'.

$
5.943.781
13,208
650,000

$
5.080.086

350,000

$
5.326.751
37,277
490,000

5,615,121
$
135,037
1,078,110
2,097,988
10

5,854,028
$
322,137
949,700
2,727,387
714

6,606,939
$
327,593
950,000
2,937,186
7
125,327
2,215,000

5,640,086
$
304,363
950,000
2,937,185

560,000

147.595
Tot a l............. ........ .......... $129,704,369 $139,139,871 $147,210,021
2,285,000
1,300,000
* Consol, sinking fund bonds, $554,000; general consol, gold bonds
6,284,224
6,555,106- 5,639,143
$284,000; Northwestern Union 1st mort. $1,000; bonds of sundry pro­ Total disbursements. 3,311,135
Balance, surplus__
2,303,988 def.430.196
51,833
prietary roads, $2,074,219.
+Including bonds in sinking funds.
943
—(V.
35,
p.
2
0
:
V.
36,
p
365,
560,
651, 730.)
t Not including amount in company’s treasury.
—(V. 35, p. 1 8 7 , 265, 291. 297, 347, 374,405,431, 478, 577,677* V
C h ic a g o St. L o u is <fc P it t s b u r g .—The mileage is as follows *
36, p. 183, 365,453, 651, 675; Y. 37, p. 174.)
Columbus, O., to Indianapolis, Ind., 187 miles; branches—Bradford Julie
O., to Chicago, 111., 231 miles ; Richmond, Ind., to Anoka June., Ind 102
- Chicago P e k in & Sou th w estern .—Operated from Pekin, HI. to miles ; Peoria Junction, Ind., to 111. State Line, 61 miles ; total operated
Mazon Bridge, 111., 91 miles, of which 6 miles leased. Chartered in 582 miles. .
*
1859 and opened in 1876. Sold under foreclosure of second mortgage
This is the reorganization (March 20, 1883,) of the Columbus Chicago
May 31,1881, and reorganized. For year 1881-82. gross earnings were & Indiana Central road, sold in foreclosure on Jan. 11, 1883
The
$366,003; net, $120,892. In 1882-83, gross, $273,879; net, $54,883 C. C. & I. C. company was formed Feb. 12,1868, by consolidation o f
In Feb., 1882, A. H. Crocker was appointed Receiver. (V. 37, p. 399.) the Col. & Ind. Cen. and Chic, & Gt. East, railroad companies, and was
leased to the Pitts. Cin. & St. Louis Railway Co. Feb. 1,1869, by which
C hicago R o c k Isla n d & P aelflc.—L ine of R oad .—Owns from company
it has be^n operated,
Chicago to Council Bluffs, 500 miles; Davenport. Ia., to Atchison, Kan
The lease stipulated that the lessees should maintain the road and
3 4 5 ; Atchison Junction to Leavenworth, Kan., 21-5; Washington, Ia. to equipment, operate it, and pay over to the lessors 30 per cent of the
Knoxville, 77-5; South Englewood to South Chicago, 7*5; Wilton’ to
earnings. Also, that the rental should always be equal to the inter­
Muscatine, 12-5; Newton to Munroe, 17*5; Des Moines to Indianolaand gross
on $15,000,000 first mortgage bonds of the C. C. & I. C. Railway
'Winterset, 48 1 ; Menlo to Guthrie Centre, 14*6; Atlantic to Audubon est
Company,
and $821,000 of the second mortgage bonds of the Col. &
25*5; Atlantic to Griswold. 14*6; Avoca to-Harlan, 1 2 ; Avoca to Car- Ind. Railroad
Company. After default In 1875 and much litigation,
son, 17-5; Mt. Zion to Keosauqua, 4*5. Leased: Cameron, Mo., to Kan­ the
plan
óf
settlement with the Penn. RR. was approved by a majority
sas City, 54; Bureau Junction to Peoria, 47 miles; Keokuk to Des of bondholders
in 1882 and carried out. This provided that the consoli­
Moines, 162. Total operated, 1,381 miles.
dated mortgage of the Col. Chic. & Indiana Central Railway Company
O r g a n iz a t io n —The Chicago & Rock Island RR. was chartered in should be foreclosed subject to the old sectional mortgages. That the
Illinois Feb. 7,1851, and opened from Chicago to the Mississippi River property thus sold be bought in and the purchasers form a new corpora­
July, 1854. The extension from the Miss, to the Mo. River was built tion to take the property, with a capital of $10,000,000 in common stock
by the former Mississippi & Missouri RR. of Iowa, which was foreclosed and $20,000,000 in preferred stock, the latter to be entitled to dividends,
under mortgage in 1866. The Illinois and Iowa roads were consolidated if earned, at the rate of-6 per cent per annum, as declared by the board
August 22,1866, under the present title, and the main line was extended
and to be cumulative. That the new Corporation issue its
to Council Bluffs June, 1869. The Iowa Southern & Missouri Northern of directors,
mortgage bonds for $22,000,000, payable at the end of fifty years,
was formerly the Chicago & Southwestern, and was foreclosed and pur­ first
in
gold
coin,
with
interest at the rate of five per cent per annum, &e.
chased by this company, and consolidated June, 1880. The present Common stock of the
old company was assessed $5 per share cash, and
Ghic. R. I. & Pacific was a consolidation June 4,1880, with $50,000 000 one share of new stock
then given for two of old. A statement of the
stock authorized, and a scrip dividend of 100 per cent to the holders of resources of the new company
when reorganized was given in the
Gliic. R. I. & P. stock. The fiscal year ends March 31, and the annual Ch roncle , V. 36, p. 509. as fol'ows
: “ Received from assenting holders
-election occurs in June.
of securities of the C. C. & I. C. Railway Co., under plan of reorganiza­
Stock and B onds.—The stock has paid dividends as follows since tion, $1,593,745 ; received from Pennsylvania RR. Co., as agreed under
■1876, viz.: in 1877 and 1878, 8 per cen t; in 1879,10; in 1880, 8*2 • in plan of reorganization and in settlement of past claims, $2,400 000 • due
1881 and 1882, 7; in 1883, 7. The price has ranged as follows since from the P. C. & St. L. Railway Co., balance, of net earn ngs to Dec. 31.
1876, viz.: in 1877, 82i2@10oi2; in 1878, 983s.®122; in 1879, 119® 1882, $283,668 ; total, $4,277,414. Paid to retire purchasing commit­
150ie; in 1880, t® July, 149®204; Julyto Dec. (new stock), lOQi»® tee’s receipts and C. C. & I. C. Railway Co.’s first mortgage consolidated
J43 s\aA 88Vtl^ 9 ® M858; in 1882, 122® 14014; in 1883 to last Satur- bonds not assenting to reorganization agreement, $2,606,589 ; balance
nay, 117is®127i4.
of available cash in hands of company April 5,1883, $1,670,824. The
L anus.—The report of the Land Commissioner says that the sales,by total
assets of thè company are: Balance of the mortgage bonds
warranty deeds or contracts to convey by warranty in 1882-3 amounted $3,881,000;
pref. stock, $2,467,400 ; cash,$1,670,821; total, $8^019,224.”
to 27,306 acres. The consideration, paid or secured, was $278,513, the
The
new company started with an interest charge per year of about
.average price being, therefore, nearly $10 20 per acre. The bills receiv $1,200,000
; its net earnings for three years previously had averaged




O ctober , 1888.]

RAILROAD

STOCKS ANÏ)

BORDS.

29

Subscribers w ill confer a great favor by giv in g Im m ediate notice o f any error discovered in tbese Tables.
Bonds—Princi
DESCRIPTION.
*
INTEREST OR DIVIDENDS.
Milës Date Size, or
Due.
Amount Rate per When Where Payable and by pal,When
Stocks—Last
par
of
For explanation of column headings, &c., see notes of
Road. Bpnds Value. Outstanding Cent. Pay’ble
Dividend.
Whom.
on first page of tables.
Chicago St. Louis &Pittsburg—( Continued) —
1st mortgage, gold ($22,000,000)........................... 580
117
1st M. Cliic. & G’t East. (Chic, to Logansport) —
do Col. & Ind’polis Cent. (Col. to Ind’s, Ind.).. 208
93
do Union & Logansp’t (U’n City to Logansp’t)
61
do Tol. Logansp’t & Burl.(Logansp. to 111. line)
do Col.<fe Ind. cbm.,lst«fe2dpf.(Col. to U’n City) 102
do Cum. & Chic. Air Line(Riclim’d to Logans.) 107'
2d M. Col. & Tnd’polis Cent. (Cov. to Union City).. 208
Chic. St. Paul Min'polis <£•Omaha—Common stock.. 1,150
Preferred stoefc............................. ............................ 1,150
Consol, mortgage (for $30,000,000).......................
Chic. St. Paul & Minn., 1st moft., gold, coup........ Ï77
North Wisconsin, 1st mortgage........ ................
120
St. P. & Sioux City, mort., gold, for $7,000,000.1.. 605
St. Paul Stillwater <&Taylors’ Falls, 1st mort.......
23
Hudson & River Falls. 1st mort..............................
12
Minneapolis East RR., 1st mort., guaranteed.......
Chicago <£•West. Indiana—1st mortgage....................
General mortgage, gold, sinking fund..................
Chicago «£■West Michigan—Stock, n e w .....................
410
1st mortgage, New Buff, to St. Jo........................
Gr. Rap. Newaygo & Lake Sh., 1st mort. cou p ....
35
do
2d M. on 35 m. <fe1st on 11 m., coup
46
General mortgage ($12,000 per mile).....................
Cincinnati £ Eastern—1st mortgage.......... ..............
Cincinnati Hamilton £ Layton—Stock..................... 354
354
Preferred stock for $1,000,000................................
60
60
Consol, mort. ($996,000 are 7s), sink, fund 1 p. c
Cin. Ham. & I. (Junction) RR., 1st mort., gu a f....
98

1883
....
1864
1865
1863
1864
1880
1878
1880
1879
1878
1878
1879
1879
1882
1869
1871
1875
1881

1865
1875
1873

$1,000 $16,500,000
___
.224,000
2,632,000
715,000
__
510,500
372,000
113,000
821,000
ib o 20,015,800
100 11,900,900
1.000 10,340,000
50Ö <fcc.
3,000,000
1,000
800,000
. 1,000
6,080,000
334,800
125.000
75,000
3,300,000
1,000
7,200,000
6,796,800
LOOO
480,000
1,000
576,000
500 &G.
30,500
1,000
2,001,000
367,000
iöo
3,500,000
347,900
i.ô b o
465,000
1,000
2,450,000
1,000
1,800,000

5 g. A. & O. New York, 66 Br’dway. April 1, 1932:
1893 & ’95
7
Various N. Y., Union Trust Co.
7
J. & J. N. Y., St. Nich. Nat. Bk. Nov., 1904 ¿
7
Dec., 1905
A. & O. N. Y., Union Trust Co.
7
F. & A. N. Y., St. Nich. Nat. Bk. Feb., 1884
7
J. & J. N. Y., Union Trust Co. Dec., 1883
7
1886 t o ’90
do
do
Various
Nov., 1904
7 : M. & N.
do
do
i%
6
6 g.
6
6 g.
7
8
. 7
6 g.
6 g3
8
8
"7
5
7
3
114
7
6 &7
. 7

New York, Office.
Q.-JF.
J. & D. N. Y., 52 Wall Street.
M. <fe N.
do
do
do
•do
J. & J.
do
do
A. & O.
do
dd
J. & J.
do
do
J. & J.
do
do
J. & J.
M. & N. N. Y., Drexel, M. <& Co.
M. & N. N. Ÿ., 52 Wall Street.
Boston.
M. & S. Bost.. Treasurer’s office.
N.
Y.
Union
Trust Co.
J. & J.
J. & D.
do
do
J. «fe D.
Sardinia, Ohio.
J. «fe J.
A. <fe O.
Cincinnati, O.
do
do
Q.-J.
J. «fe J.
A. <fc O.
do
do
do
do
J. <fc J.

Oct. 20, 1882
June 1. 1930
May 1, 1918
Jan. 1, 1930
April 1, 1919
Jan. 1, 1908
July 1; 1908
Jan. 1, 1900
Nov. tr 1909
Nov. 1, 1931
Feb. 15, 1883Sept. 1889
July 1, 1891
June 1, 1905"
1921
Julv 1, 1896Jan. 5, 1883
Oct. 1 ,1 8 8 3
July 20,1885
Oct., 1905
Jan., 1903

about $665,000 per year. It is not known wbat traffic tlie Pennsylvania the Grand Haven road, 57 miles, Muskegon to Allegan, and the GrandRR. may divert to this line from its otner western lines. For year end­ Rap. Newaygo <fe Lake Shore, 46 miles, from Grand Rapids to White
ing June 30,1883 (see report V. 3?, p. 421) gross earnings were $5,328,- Cloud.
The annual report in V. 36, p. 425, gives a good account of +he
947 ; net, $832,981.
Operations and eafnings for four years past (end. December 31) w ere: company’s progress: “ Carefully matured efforts are’now being made tosecure
a share of the lumber shipments from Muskegon and Grand
Passenger
Freight (ton)
Gross
Net
Years.
Miles.
Mileage.
Mileage.
Earnings. Earnings. Haven to interior points; and in consequence of the measures already,
taken,
these
shipments have been increased from ten million feet in
1879___ . . . . 580 $33,967,484 $402,856,462' $3,911,261 $756,300
1 8 8 0 .... . . . . 581
41.432,531
441,353,949
4,795,771
726,260 1877 to over seventy-two million in 1882. Meanwhile it is proper
further
to
say
that all improvement hereafter to be seen in the value o f
1 8 8 1 ....
581
43,407,476
542,045,108
4,953,722
641,053
the Chicago & West Michigan road must, in the opinion of your directors,,
1 8 8 2 .... ____581
.....................
5,122,943
„703,584
arise from an increase in its earnings; it cannot reasonably be expected
—(V. 35, p. 189, 347,431, 574,705; Y. 36, p. 55,139,251,339, 453,509 ; to.come from any decrease in the cost of operation, or in the outlay for
V. 37, p. 4 2 1 , 424.)
renewals. The Chicago & West Michigan is not a cheap road to oper-r'
C h ic a g o St. P a u l M in n e a p o lis Sc O m a h a .—The-mileage is ate.” * * * “ The prospective value of the property is, therefore, a
as follows: Eastern Division—Elroy to St. Paul, 198 miles; River simple question of gross earnings.” In 1882 gross earnings' were
Falls Branch, 12 miles; Stillwater Branch, 4 miles; South Still- $1,503,433; net, ¿455,645.
Earnings in 1881, $$1,325,052; net
wrater Branch, 4 miles : Eau Claire Branch, 3 miles ; Neilsvilie $270,072.
Branch, 14 miles;' Chippewa Falls Branch, 14 miles ; St. Paiilto Minne­
INCOME ACCOUNT.
apolis, 10 miles. Northern Division—North Wisconsin Junction to
1882.,
1881.
$ $
Cable, 120 ; Superior City Bridge, 62 miles. St.' Paul Division—St. Paul
Receipts—
455,645to St. James, 122 ; Lake Crystal to Elmore, 44. Sioux City Division— Net earnings...
270,072
7,068
St. James to Sioux City, 148 ; Sioux Falls Branch, 98 ; Black Hills Other receipts..
2,325
Branch, 44 ; Rock River Branch. 28. Nebraska Division—Covington to
Omaha, 126 ; Niobrara Branch, 16; Missouri River transfer, 2 miles;,
272,397
462,713
Total income.'.
Norfolk- Branch to Emerson, 46 miles. Total owned. 1,115 miles. Pro­
Disb ursements—
$
prietary roads, 35 miles. Total of all, 1,150 miles. This was a .consoli­ Interest on debt...
191,423
117,756
dation July, 1880, of the Chicago St. Paul & Minneapolis (formerly West Dividends ."...........
153,580
Wisconsin), the North Wisconsin, and the St, Paul <fe Sioux City. The
St. Paul «& Sioux City was a consolidation in August, 1879, of the St.
345,003Total disbursements........ ............. ................. 117,756
Paul & Sioux City and the Sioux City & St. Paul, forming a main line
117,710
154,641
.from St. Paul to Sioux City, 270 miles. The St. Paul Stillwater & Balance, surplus..........................................
Taylor’s Falls was consolidated with this company; also the Worthing­ — (V. 34, p. 86, 522, 5 4 7 ; V. 35, p. 577; Y. 36, p. 425.)
ton Sioux Falls & Iowa and Covington <fc Black Hills.
Preferred stock has a prior right to non-cumulative dividend of 7 per
C incinnati & E a stern .—Cincinnati to Ottawa, O., 87 miles, and
cent from net earnings ; but common is never to receive more than is branch to Richmond, 12 miles. Leases Columbus & Maysville road,, 20
paid on preferred. The Chic. St. Paul & Minneapolis l st mort, is a 2d miles. New arrangement made by a syndicate m 1883, but road went
on the lands; the land mort, a 2d on road; but. no foreclosure can be into receiver’s hands. In 1881-82 gross earnings were $95,850; net,
had except by default on 1st mortgage.
$22,747. There is a 2d mortgage on main line, $242,000, due 1890; a
In November, 1882, a controlling interest in the stock was purchased mortgage of $89,000 on branch, due 1908; and a general mortgage of
for the Chicago & Northwestern Railway by the acquisition of 93,200 $2,000,000 authorized on whole line. (See V. 36, p. 365; V. 37, p. 22.)
shares of common at an average price of 48‘40, and 53,800 shares of
preferred at an average of 1U4-04—the total cost being $10,503,959,
C incinnati H a m ilto n Sc D a y to n .—Owns from Cincinnati, O.
which stock is held as an asset of the Chic. & Northwestern Company. . to Dayton, O., 60 miles; leased—Dayton & Michigan, Dayton td
Report for 1882 in Chronicle , Y. 37, p, 126. Earnings, &c., as follows : Toledo, 142 miles; Cincinnati Hamilton <&■ Indianapolis, Hamilton to
- 1881.
1882,. Indianapolis, 99 miles; Cincinnati Richmond & Chicago, Hamilton, O,,
Miles owned and operated..... .................. .
1,003
1,150 to Indiana State line (and leased road), 44 miles; McCornb Toledo &
D., 9 miles: total operated, 351 miles; each lease reported separ­
Earnings—
Passenger.,.................................................
$944,329
$1,311,217 ately.
In April, 1882, Mr. Jewett, of the Erie, and associates, obtained
Freight................................................. .......
2,913,521
3,478,62-1
Mail, express, &c.......... s. . . . . . . . .............
164,111
172,361 control of the stock by guaranteeing 6 per cent on 20,000 shares which
i were purchased and deposited in trust and trust certificates issued there­
Total gross earnings............. .........
$4,021,961
$4,962,202 for ; the guarantee is to make up any deficiency in 6 ner cent dividends
on those shares after the application of net income thereto. In August,
INCOME ACCOUNT.
1882. 1882, the issue of $1,000,000 preferred stock w asvoted for improve­
Receipts—
1881.
ments.
The annual report for 1882-83, in V. 36, p. 705 and 730, had
Net earnings............................. ......^......... $1,245,499
$1,721,415
Net from land grants........................ .........
504,144
546,825 the following: “ The funded debt has been decreased during the year
$56,700,
in accordance with the provisions of the consolidated mort­
78,5S5
Other receipts.......... ....... ....... ...................
644
gage- In order to meet the extraordinary expenditures involved in
making
the
needed additions to, and improvements of, the equipment
Total income........... ............................ $1,828,228
$2,268,884
and property, the board deemed it wise to issue $500,000 of the $1,000,Lisbursem ents—
000
of
preferred
stock authorized by the stockholders. Of this amount
Rentals paid...................................
$53,059
$27,736
Interest on debt...................
893,536
1,014,530 3,479 shares have been sold at par, increasing the capital stock of the
’
company
$347,900,
and expenditures .made as follows: For construc­
Dividends on preferred stock...................
672,737
735,397
tion, $56,990; for equipment, $333,935; for real estate, $36,131 ;.fo r
Rate of dividend.......... . .............................
(7)
(7)
account of elevator contract at Toledo, $69,289—total, $496,347. TheTotal disbursements......................
$1,619,332
$1,777,663 balance of expenditures, $L48,447 was advanced from current earnings.
“ The earnings of the Indianapolis pool cover a period of-but fiveBalance surplus.........................................
$208,896
'
$491,221
—(V. 35, p. 213, 265, 297, 372, 601, 737; V. 36, p. 651; V. 37, p. 99, months, as the contract was terminated Sept. 1, by mutual agreement.
The earnings from the Dayton pool, as shown, are for a period of but
1 2 6 , 375.)
two months. The Clev. Col. Cin. & Ind. RR. Co. having declined to pay
Chicago & W e ste rn In d ia n a .— -Owns from Dolton and Ham­ the rentals provided for under the terms of the contract, no settlements
mond, 111., to Chicago, with a belt railroad and branches, with ware­ have been made since that time, although the terms of the agreement,
houses, elevator, &c., 114 miles of track in all, and about 400 acres of are being maintained in other respects, and settlements are awaiting
real estate. This company leases its road for right of way into Chicago to an adjustment as between the companies.”
the Wabash, the Grand Trunk of Canada, the Chicago & Eastern Hlinois,
Income account for four years was as follows, including all the roads
the Chic. & Atlantic and Louisville New Albany & Chicago roads; the operated:
annual rentals amount to $762,650, exceeding the interest charge by
1880-81.
1881-82.
1882-83.
$132.650. In 1882 a consolidation with the S. Chic. & West. Ind. RR.
$2,882,300
$2,961,446 $3,088,407"
and the Western Ind. Belt road was made with stock of $5,000,000 and Gross receipts................
bonds limited to $10,000,000; the general mortgage bonds are liable Operating expenses........................ $1,895,300
$2,031,664 $2,014,907"
to be redeemed after 1885 at 105 by a sinking fund. (V. 35, p. 456.)
Taxes, &c....................
80,022
83,002
85,119
Interest...........................
579,315
539,516
512,090
C hicago Sc W e st M ic h ig a n .—Owns from Lacrosse, Mich., to D. & M. d iv id e n d s .................... .
132,902
132,16A
132,015
Pentwater, Mich., 209 miles; branches—Holland Junction to Allegan, Sundries, profit and loss...............
-3,710
3,318
*
750
23 miles; Holland to White Cloud, 70 miles; Fruitport to Muskegon, Other item s..... .......... , ......... .
14,50(1
10,086
6,880
10 miles; Kirk’s Junction to Pickand’s Junction, 3 miles; Muskegon
to Port Sherman, 6 miles; Woodville- to Muskegon River, 17 miles;
Total expenses and interest,. $2,705,751 $2,799,750 $2,751,778
Mears to Hart, 3 miles; B. R. Junction to Big Rapids, 51 miles;
White River Junction to West Troy, 17 miles; total oper­
Net s u r p lu s ........___ . . . . . . .
$176,554
$161,696
$336,620
ated, 410 miles. Organized as successors of Chicago & Michigan
Lake Shore Jan. 1, 1879, and consolidated in Sept., 1881, with —V. 35, p. 102, 211, 235, 397, 762; V. 36, p. 7 0 5 , 7 3 0 .)]




30

RAILROAD

STOCKS AND * BONDS.

[V o l . XXXVII.

Subscribers w ill confer a great favor by .giving im m ediate notice o f any]error discovered in these Tables.
DESCRIPTION.
Bonds—Prinoi
INTEREST OR DIVIDENDS.
Miles Date [Size, or
pal,When Due.
Amoimt' Rate per When
For explanation of column headings, &c., see notes of
of
Par, Outstanding
Where Payable, and by Stocks—Last
on first page of tables.
Road. Bonds Value.
Cent. Payable
Whom.
Dividend.
Cincinnati Indianap. St. Louis <&Chicago—Stock..
Ind. &Cin. of 1858,1st mort.................
Indianapolis Cin. & Laf. m ortgage............
Cin. & Ind., 1st mortgage..........................
do
2d M., guar., and funded coupons___
1st mort., Cin. Ind. St. L. & Chic, (for $7,500,000)
Cincinnati Lafayette & Chicago, 1st mort., gold ..
Cincinnati <&Muskingum Valley—1st m ortgage...
Cincinnati New Orleans <&Texas Pacific—Stock.......
Cincinnati Northern.—1st, gold, mortgage___ ___
Cin. Richmond <£ Chic.—1st mort., guar. C. H. & D..
2d mortgage, guar, and owned by C. H. & D .......
Cin. Richmond & Ft. W.—1st mort., gold, guar.......
Cincinnati Sandusky & Cleveland—Stock................
Preferred stock..........................................................
Mortgage bonds, Sandusky, Dayton & Cincinnati
Mortgage bonds, Sandusky City & Ind...................
2d mortg. Cine.. Sandusky & Cleve.........................
Cincinnati <&Springfield—1st mortgage, guar........
2d mortgage........................... j ......................... .....
Cincinnati Wabash & Michigan—Stock ($3,000,000)
Cincinnati Washington<6 Salt.—Common stock..!.
Preferred stock..........................................................
i 1st mort. gold, coup, or reg., guar, by B. & O.......
2d mortgage, gold,
do
do
..............
Prior lien, gold........................, .................................
3d mort., gold (3 pr. ct. for 10 years and 4 after).
1st income mort., non-cumulative, gold................
2d income mort., non-cumulative...........................

382
90
151
20
20
194
56
148
336
50
36
36
90
190
190
___
80
48
165
281
281
__

"V *

1858
1867
1862
1867
1880
1871
1870
1880
1866
1869
1871
1866
1852
1867
1871
1872

1883
1883
1883
1883
1883
1883

$100 $7,000,000
1^
500 &c.
1,600,000
7
1,000
2,790,000
7
1,000
499,000
7
1,000
1,329,000
7
1,000
1,198,000
'6
1,000
1,120,000
7 g1,000
1,500.000
7
100
3,000,000
3
1,000
1,000,000
6 g.
1,000
560,000
7
1,000
65,000
7
1,000
1.800,000
7 g.
50
4,015,750 2 & 10s.
50
428.997
3
....
666,000
6
....
350,000
7
....
1.072,300
7
1,000
2,000,000
7
1,000
651,000
7
....
1.944,500
100
6,854,096
100 13,535,903
1,000
7,500,000 41eg& 6g
1,000
3,040,000
5 g.
1,000
500,000
4 1ag.
1,000
2,270,000
3-4
1,000
3,500,000
5
1,000
4,000.000
5

. C in cin n ati In d ia n a p o lis St. L o u is & C h icago.—Owns
from Cincinnati to Lafayette., Ind.. 174 miles; Lawrenceburg branch,
2 miles; Harrison branch (partly-owned), 7 miles; Fairland F. & M.
Hoad, 38 miles; and Cincinnati Lafayette & Chicago (leased), 75 miles;
VernonGreen. & Kush., 41 miles (leased); Kankakee & Seneca (onehaif owned), 42 miles; total opeirated, 382 miles.
This company was formerly the Indianapolis Cin. & Laf., which was a
.consolidation in 1876 of the Indianapolis & Cin. and the Laf. & Indianap­
olis railroads, the company taking a perpetual iease of the Cincinnati
& Indiana Railroad. On August 1, 1876, a receiver was" appointed
and the road was sold in foreclosure Feb. 2, 1880, and this company
organized. Of the $7,500,000 new bonds $6,885,000 was reserved, into
which all of the old bonds prior to the Indianap. Cin, & Laf. 7s of 1869
could be exchanged at par. In addition to bonds given above there are
$72,000 of other issues outstanding. In July, 1881, $1,000,000 new stock
was sold to stockholders at 70, and'proceeds used to extinguish floating
debt ($1,060,000); also, $300,000 contributed towards a new line to
Seneca and balance used for other purposes. In June, 1882, another
issue of $1,000,000 new stock was voted. After paying dividends of 6
per cent in 1881, 6 in 1882, and 3 in 1883, the dividend of July, 1883,
was passed, the money being required for repairs of damages by flood,
&c. Annual report in V. 37, p. 341.
INCOME ACCOUNT.

Receipts—
Net earnings... . . , ............... : ___
Disbursements—
Interest on b o n d s .........................
Dividends........................................
Rate of dividends........ .'................
Miscellaneous..... ............. ............

1880-81.
$
961,490
$ .
565,909
180,000
(4*2 p. c.)
6,894

1881-82.
$
1,000,609
$
591,326
360,000
(6 p. c.)
6,732

New York.
Q.—J.
April 16, 1883
A. & O. N. Y., Amer. Ex. Bank. April, 1888
F. & A.
do
do
Feb., 1897
J. & D.
do
do
Dec., 1892
J. & J
do
do
Jan., 1887 .’92
M. & N.
do
do
May 1, 1920
M. & S. N. Y., Am. Esch. N. Bk. Mch., 1901
J. & J. New York, Moran Bros. Jan., 1901
Feb. 5,
A. & O. N. Y., Geo. W. Ballou. Oct. 1,’ 1920
J. & J. N. V ., Winslow, L. & Co. July, 1895
J. & J.
do
do
Jan. 1, 1889
J, & D. N. Y., Winslow, L. <&Co.
Boston, Office.
Dec. Í , 1882
M. & N.
do
do
May 1, 1883
F. & A. Boston, Second Nat, Bk. Aug. 1, 1900
M. & S.
Boston, Office.
Sept. 1, 1897
J. & D. Boston, Second Nat.Bk. Dec. 1, 1890
A. & O. N. Y., U. S. Trust Co.
April 1, 1901
J. & J.
do
do
1902
M. &
J. &
A. &
F. &
;* v

N.
J.
0.
A.

New York, Agency.
do
do
do
do
do
do
do do
do
Tdo

Nov. 1,
Nov. 1,
April 1,
liô v .'l,'
Nov. 1,
Nov. I,

1931
1931
1893
1931
1931
1931

miles, less the division between Springfield & Dayton, 24 miles, which"7
leased to aiid operated by the Cleveland Columbus Cincinnati & India a
apolis. Six coupons on 2d mort. bonds were funded from June, 187
and $222,064 in coupon bond scrip is outstanding. The preferred stoc
has a lien by deposit of old bonds in trust. The Receiver, after
three years’ possession of the property, was discharged January 1880'
In Anril, 1881, a lease was made to the Indiana Bloomington & Western.
By the terms of the lease this company takes 3313 per cent of its gross
earnings as rental; but the amount in any one year shall not be less
than $220,000 nor more than $500,000. In Nov., 1882, a dividend
of 2 per cent cash and 10 per cent in the stock of the Columbus Springfield
Cincinnati RR. was declared. In 1882 rentals received and
miscellaneous receipts were $364,059. Payments—Expenses, $19,132;
interest, $176,565 ¡ dividend on preferred stock, $25,731; sinking fund,
$44,214; increase floating assets, $25,578; . decrease floating debt,
$72,370. (V. 34, p. 264, 4 8 5 , 601.)

C in cin n ati & Springfield..—Operates from Cincinnati, Ohio, to
Dayton, Ohio, 80 miles, of which 33 miles were leased from other
companies. The whole is leased and operated by Cleveland Col. Cin.
& Ind. Co., giving them a line into Cincinnati, and depot accommoda­
tion. Lessees apply any èxcess over rentals to C. & S. stock. Interest
is guaranteed on the first mortgage, one-half by the lessees and one-half
by L. Shore & Mich. Southern. Stock is $1,100,000. To January, 1883,
1882-83. the C. C. C. & I. had advanced $2,159,931.
$ g
973,652
C in cin n ati W a b a s h & M ic h ig a n R a ilw a y .—Owns from
Benton Harbor, Mich., to Anderson, Ind., 165 miles. Sold Nov. 5 ,1879,
$
621,159 for account of bondholders. New company organized April, 1880.
3l5,00G Total stock authorized, $3,000,000. Earnings ror 1881. $240,639;
(4-*2p. c.) net, $63,886; gross in 1882, $290,920 ; net, $79,589. J. H. Wade,
2,342 President, Cleveland, Ohio. (V. 35, p. 182, 291, 404, 487.)

C incinnati W a sh in g to n & H a ltim o re.—Cincinnati, O., to
752,803
Total disbursements...................
958,058
938,501
Belpre, O., 192 miles; branches-Marietta to Belpre, 11 miles; Ports­
Balance, surplus...........................
208,687
42,551
„ 35,151 mouth to Hamden, 55 miles ; Blanchester to Hillsboro, 22 miles ; total,
—(V. 35, p. 3 4 6 ,5 1 5 ; V. 36, p. 29, 195, 399, 426, 560 ; V. 37, p 341.)
281 miles
7
The Marietta & Cincinnati was a consolidation in 1851 of the Belpre
C incinnati & M u sk in g u m V a lle y .—Owns from Morrow, O., to & Cincinnati and the Franklin & Ohio River roads, and afterward
Dresden Junction, O., 148 miles. Chartered as Cinn. Wilm. & Zanes. absorbed the Hillsboro & Cincinnati and the Scioto Valley. The Cincin­
in 1851 and opened in 1857. Sold under foreclosure Oct. 17,1863, and nati & Baltimore (into Cincinnati), ana the Baltimore Short Line (main
reorganized as'Oincinnati & Zanesville March 11, 1864. Sold again line to Belpre) were leased,and on the reorganization have been consoli­
Dec. 10,1869, and reorganized as at present. Leased for 99-years from dated. The Marietta & Cincinnati Co. made default, and the road was
Jan. 1,1873, to P. C. & St. Louis, lessees to pay all expenses and inter­ placed in the hands of Mr. John King, Jr., of the Baltimore & Ohio,
est, any excess of earnings to inure to the lessors. Gross earningsm as receiver, June 27, 1877, and a foreclosure suit was begun. Thé sale
1881, $395,321; net earnings, $20,275. In 1882 gross $386,740 ; net in foreclosure took place Dec. 9, 1882, and re-organization was made
$86,864; interest paid, $105,000; deficit advanced by lessee, $18,135, Feb. 7,1883, under name of “ Cincinnati Washington & Baltimore.”
against $84,725 deficit in 1881. Total amount due lessee Dec. 31,1882,
The company had run behind largely in its income, partly owing to the
$711,159. Capital stock, $3,997,320.
fact that large rentals and interest were paid to the Cincinnati & Balti­
more and the Baltimore Short Line, in which companies Baltimore &
C in cin n ati N ew Orleans & T ex a s P acific,—This is the com­ Ohio parties were interested. The total yearly charges were about
pany organized under the laws of Ohio Oct. 8, 1881, to operate the Cin­ $1,400,000, and by the reorganization are reduced to about $700,000.
cinnati Southern, and 51 per cent of the stock is held by the English The three old mortgages on different roads given in the last three lines
company, the Alabama New Orleans & Texas Pacific Junction Co.,'
the table above were allowed to remain ; then prior lien bonds were
„.Limited. The Cincinnati Southern road extends from Cincinnati to of
issued for receiver’s certificates. Of the first mortgage bonds, $1,250.Chattanooga, Tenn., 336 miles. The rental due the Cincinnati 000 were issued for the Cincinnati & Baltimore Railroad stock, and bear
Southern is $812,000 per year till 1886, then $912,000 till 1891, 6 per cent ; the balance 4 ^ per cent. These bonds are guaranteed!
$1,012,000 till 1896, $1,102,000 till 1901, and $1,262,000 till 1906. by
& Ohio Railroad Company. The income bondholders
For 1882, gross earnings, $2,570,057; net, $991,131; rental,' <fce., willthebeBaltimore
entitled 'to one vote at all meetings of stockholders fo r
$886,078; surplus. $105,053; dividend in Feb., 1883, $90,000. John every
one
hundred
dollars held. Thé holders of Marietta & Cincinnati
Scott, President, Cincinnati. (V. 36, p. 80, 365.)
first preferred stock paid a cash assessment of $2 50 per share ; 2d p re-.
ferred,
$1
50
per
share
; common, $1 50 per share. The Baltimore &
C in cin n ati N orth ern ,—Dayton, O., to Cincinnati, 60 miles. Con­
necting line of the Toledo Delphos & Burlington, and in March, 1883, Ohio RR. Co. received for it s claims £3,100.000 of the new preferred
stock
and
$3,100,000
of
the common of the new company. (See plan
consolidation with the Toleda Cincinnati & St. Louis was voted, and
after that company defaulted an attempt was made to get a sep arate in V. 34, p. 403.)
The
Marietta
&
Cincinnati
was an expensive road to operate, even
receiver for Cincinnati Northern. There are also $ 1,000,000 of income
bonds, and an authorized issue of $1,000,000 mortgage bonds on the without including the rentals, and in 1880, the best year of the past six,
the
operating
expenses
were
over 78. per cent of the gross earnings.
Avondale branch, of which $700,000 are outstanding. The coupons
of 1st mortgage bonds from Oct., 1882, to Sept., 1884, inclusive, were In 1876, when rentals were only $98,644, the net income applicable to
interest
was
$252,684
;
in
1877
net income $47,362 ; in 1878, $10,676 ;
-to be funded into a 6 per cent scrip. Stock, $1,000,000. (V. 36, p. 108.
in 1879, net deficit, $141,422 : in l8 8 0 .n et income, $110,293; in 1881,
365, 399; Y. 37, p. 176.)
net deficit, $88,749; in 1882, net income, $186. A liberal allowance
C in cin n ati R ic h m o n d & C hicago.—Owns from Hamilton, O., should probably be made for expenditures in putting the road in better
to Indiana State Line, 37 miles; leased, Richmond, Ind., to Ohio State condition during the receivership. Unfortunately, no full reports have
Line, 7 miles; total operated, 44 miles. Reorganized May 3, 1866, been made to the stockholders of late years, so that it is not possible to
and leased in perpetuity from February, 1869, to Cincinnati Hamilton analyze very closely the operations and earnings of the company. The
& Dayton Co., this company to receive all surplus after expenses and net earnings stated in the table below are given without the deduction
bond interest. Gross earnings in 1882-33, $254,003; net, $109,844. of rentals.
interest liability, $53,900; surplus, $55,944. Capital stock, $382,600’
The fixed charges of the new company are about $700,000 per year.
gross earnings for the year ending June 30, 1883, have been report­
C in cin n ati R ic h m o n d <fc F o rt W a y n e .—Owns from Rich­ The
ed
as $l,943,3-*2, against $1,729,352 the year before. Net earnings
mond, Ind., to Adams, Ind., 86 miles; leased, 8 miles of Pittsburg
Fort Wayne & Chicago; total operated, 91 miles. Leased for 99 years not reported. The gross and net receipts for four years, as reported to
to Grand Rapids & Indiana, the rental being net earnings; in­ the Commissioner of Railroads in Ohio, were as follows :
terest is guaranteed by the lessees and by the Pennsylvania Companv
1879.
1880.
1881.
1882.
and Cincinnati Hamilton & Dayton Company, jointly. Gross earnings
in 1882, $435,764; net, $122,092. Loss to guarantors, $45,4*1. Capital Gross earnings............. $1,513,599 $2,020,534 $2,120,404 $1,729,352
Expenses.........................
1,323,820
1,573,047
1,917,933
1,441,918
stock, $1,709,192. Total advances by guarantors, $732,703.
C in cin n ati Sandusky & C leveland.—Owns from Sandusky,
Net earnings........ .. . $189,770 $442,487 $202,471 $287,434
Ohio, to Dayton, Ohio, 154 miles ; branch, Carey to Findlay, 16 miles ;
leased, Columbus Springfield & Cincinnati, 44 miles ; total operated, 214 —(V. 36, p. 18, 56,170, 426 ; V. 37, p. 74.)




RAILROAD

October , 1883.1

STOCKS AND

31

BONDS.

Subscribers w ill confer a great favor by giving immediate notice o f any error discovered in these Tables.
Princi­
INTEREST OR DIVIDENDS.
pal, When Due.
Miles Date Size, or
Amount
per When Where Payable, and by Stocks—LastT
Par
of
For explanation of column headings, &c., see notes of
Outstanding Rate
Dividend.
Whom. •
Cent. Payable
Road. Bonds Value.
on first page of tables.
DESCRIPTION.

1869
144
473
202
390
390
127
67
67
35
99
226
199
199

13
323
164
164
40

1852
1864
1869
1874
1873
1876
1870
1880
1862
1867
1873
1871
1878
1877
1872
1881
1868
1879
1881
1881
1868

$750,000
7
500,000
7
7
300.000
4,000,000
100
2
100 14,991,600
7
367,000
1,000
7
3,000,000
1,000
2,948,000 7 or 6 g.
1,000
2,759,200
50
3*2
740,500
500 &c.
7 g.
7
654,600
500 &c.
7
500,000
500 &c.
....
1,547,000
. 7
1,000,000
50 11,221,100
1%
1,096,000
6
500
2,491.000
1,000
7
1,798,000
1,000
7
2,000,000
7
1,000
700,000
7
1,372,000
7
180.000
7
1,000
JP
6 g.
600,000
6
100&C.
4,701,000
1,000
7 g.
2,000,000
1,000
6 g6
1,000,000
1,000
1,882,000
7
1,000

$1,000
1,000

C leveland A k ro n & C o lu m b u s .-Owns from Hudson, O., to
Columbus, O., 144 miles. Default was made July, 1874, by Cleve­
land Mount Vernon & Delaware. Sold in foreclosure August 20,4881.
In March, 1882, the decree of foreclosure under which sale had been
made was reversed, and road was soLd again June 7 to parties represent­
ing the Holland bondholders and company reorganized without bonds.
Earnings in 1881-82, $469,929 ; net, $77,214. (V. 33, p. 124, 225, 468,
588, 715: V. 34, p. 408. 488, 574, 663.)
C leveland C olu m bu s C incinnati & In d ia n a p o lis.—Owns
from Cleveland, O., to Coluihbus, O., 138 miles; G a l i o n , O., to Indian­
apolis, Ind., 203 miles; Delaware, O., to Springfield, O., 50 miles;
leased, Cincinnati & Springfield ER., 80 miles; Levering Station to
Mount Gilead, 2 miles; total operated, 473 miles. This was a consolida­
tion in April, 1868, embracing the C.C. & C. and the Bellefontaine roads.
The company paid dividends prior to 1877, but after that the
large decline in rates for through freight and the heavy rentals paid
reduced the company’s income so that no further dividends were paid
until February, 1880.-and none after that till February, 1883. In ,1882
the compauy acquired control of the Indianapolis & St. Louis, and made
a new lease of the St. Louis Alton & Terre Haute Railroad. The report
said: “ The principal changes are that your company becomes a joint
lessee with the Indianapolis & St. Louis Railway Co., and jointly liable
for the rent to be paid.” * * * “ Under the new lease the rent guar­
anteed is $450.ooo. and that amount is all that is to be paid unless the
gross earnings exceed $1,750,000, and then but 20 per cent is to be paid
of the exce-'S of gross earnings over $ .,750.000.” There was advanced
to the Cincinnati .v ’Springfield Railway during the_ year- the sum of
$159,208 for toe purchase of real estate, &c., to which is to be added the
deficit in operating during 1882, $279,020, making the total sum ad­
vanced $438,228. The sinking fund provision of consolidated bonds
may be canceled at option of holders.
The accounts of the company for the six months ending June 30,
1883 (V. 37, p. 342), made the following exhibit:
1882.
1883.
Total earnings............................................... $1,872,648.
$2,004,498
Operating expenses................................ ....... 1,435,269
1,447,757
diet e a r n i n g s .................................
Total deductions from income..... .................

$437,379
3 20,904

$556,738
323,795

Balance to credit of income................. . . . . .
Additions to the property........ ....................

$116,474
120,757

$232,943
191,412

Sur.$41,531
Net result..............
Def.$4,283
Annual report for 1882 in V. 36, p. 338. showed the following :
1879.

Earnings—
Passenger.................
Freight— ...............
Mail, express, A c ... .

$ .

1880.

1881.

$

$

1882.

$

739,939
2,796,405
138,711

863,448
3,328,209
146,451

899,918
3,225,356
165,076

1,000,270
3,159,417
178,788

Total gross earn’gs 3,675,055
Operating expenses—
$
492,223
Maint, of wav, & c...
431,374
Maint, of equipment.
1,672,3 L5
Transports exp’nses
96,395
Miscellaneous___...

*4,338,108

4,290,350

4,338,475

$

$

Total.......................
Net earnings.............

2,692,307
982,748

$

618,623
520,052
1,74 8,983
88,967

600,422
513,478
1;697,346
155,923

678,638
513,999
1,648,685
122,456

2,976,625
1,361,183

2,967,169
1,323,181

2,963,778
1,374,697
1882.

INCOME ACCOUNT.

Receipts—
Net earniqgs.............
Rentals and interest.
Miscellaneous............
Total in copie.......
Disbursements—
Interest on debt........
T a xes.......................
Miscellaneous............

1879.

1880.

3,881.

$

$

$

$

982,748
83,912
19,750

1,361,483
102 406
123,405

1,323,181
86,271
32,240

1,374,697
103,125
94,305

1,086,410

1,587,294

1,441,692

1,572,127

425,180
117,014
374,770
47,864

440,492
1 1 »,188
749,540
16,437

475,218
112,688

498,615
121,276

268

12,313

632,204
588,174
Total disbursem’ts.
1,324,657
964,828
939,923
853,518
Balance, surplus.......
262.637
121,582
—<V. 35, p. 235. 297, 320,658 ; V. 36, p. 285, 3 3 8 , 730; Y. 37, p. 342.)

C leveland & M a h o n in g V a lle y .—Owns from Cleveland, O.
to Sharon, Pa., «1 miles; Niles, O., to New Lisbon, O., and branches,
46 miles; total operated, 127 miles. It was leased to Atlantic & Great
Western in perpetuity from October 1,1861. A new lease was made
to the reorganized company, New York Pennsylvania & Ohio, till Oct.




J. & D.
J. & J.
M. & N.
F.
J.
M.
J.
M.
F.
M.
J.

&
&
&
&
&
&
&
&

.

New York, Agency.
do
do
do
do
do
do
NWY ., U. 8. Trust Co.
* do
do
do
do
New York or London.
Cleveland, Office.
N. Y., U. S. Trust Co.

Dec. 1, 1904
Jan. 1, 1900"
May 1, 1895

Feb. 1, 1883
A.
Until 1899
J.
May, 1899
N.
June 1,1914
D.
(?)
N.
Aug. 1, 1893
A.
Sept. 15,1896
S.
Jan., 1890
J. N, Y., Union Trust Co.

F. & A
Q .-M .
J. & J.
M. <fc N.
J. & J.
A. & O.
A. & O.
J. & J.
M. & N.
J. & J.
J. & D.
J. & J.
J. & J.
A. & O.
F. & A.

Aug. 1, 1905 ;
Sept. 1, 1883
Jan., 1892
Nov. 1, 1900
Jan. 1. 1913
Oct. % 1901
Oct. 1, 1898
A p r ili, 1907
May 1, 1892
N. Y., Central Trust Co. July 1, 1921
Phila., Phil. & R. Office. June 1, 1898
Boston, Treas.’s Office. July, 1909
N.Y., Nat. Park Bank. Jan. 1, 1916
A p r ili, 1926
do
do
Feb. 1, 1893
Phila., Penn. RR.

N. Y., Farm. L. & T. Co.
do
do
„
do
do
do
do
N. Y., Union Trust Co.
do
do

afterward.
C le v e la n d & m a r ie t t a .—Operated from Marietta, O., to Canal
Dover and branch, 99 miles. This company was organized as sueceesor of the Marietta Cleveland & Pitts., which was foreclosed June 13, *
1877. Earnings for 1881-82, $208,585; net. $79,356. Earnings in
1882-83, $197,466; net, $47,337. R. C. Livingston, Pres’t, New York
City. (V. 34, p. 52; V. 36, p. 560.)
C le v e la n d & P it t s b u r g .—Owns from Cleveland, O., to Roch­
ester, O., 124 miles; branches—Bayard, O., to New Philadelphia, 31
miles; Yellow Creek to Bellaire, 43 miles; leased, Rochester to Pittsburg
(P. Ft. W. & 0.), 26 miles; total operated, 226 miles. The property was
leased for 999 years from Dec. 1,1871, to Penn. RR. Co., and lease trans:
ferred to Penn. Co. May 1,1872. Rental, 7 per cent on existing capital
and $10,000 per year for company expenses, the lessees assuming all lia­
bilities. The terms of the lease were 10 per cent, but the old stock was
subsequently converted into a T per cent stock by an increase in amount.
In 1882 surplus income over charges to lesseevwas $474,951. This
company’s annual report for the year ending November 30,1882, stated
that final settlement had been made with the Pennsylvania Railroad
Compauy in the matter of surplus assets remaining to this company, as
of the date of the lease, after closing its business, which surplus accrued
to the lessee by the terms of the supplementary agreement of November
30,1871. “ The total amount transferred as authorized by the board
of directors is $202,291. This sum has been charged against construc­
tion, meeting the old balance of net earnings—$390,138—credited toconstruction in the year 1880.”
Operations and earnings for five years (ending December 31) were asfollows:
„ ,
Gross
Net
D iv.
Passenger Freight (ton)
Mileage.
Earnings. Earnings._ p.q.
Mileage.
Years.
Miles.
$966,n a
.226 14.853.524 143,114,623 $2,272,167
1878
1879
226 16.624.524 164,675,804 2,418,516 1,151,780
1880
.226 18,083,711 172,535,850 2,699,290 1,275,488
1 8 8 1 ...... 226 22,265,486 211,190,606 3, 112,021 1,507,131
1882........ 226 23,234,059 215,901,749 8,353,363 1,734,467
—(Y. 36, p. 79.)
C leveland T u scara w a s V a lley & W h e e lin g ,—Owns from
Black River, O., to West Wheeling, O., 158 miles. Chartered as Lake
Shore & Tuscarawas Valley in 1870 and opened in 1873". Sold under
foreclosure Jan. 26, 1875, and reorganized under present title. In.
February, 1882, receiver was appointed in a suit of the Union Trust Co.
of N. Y. under the mortgage of 1878, and in February, 1883, the roaa
was sold. Gross earnings in 1880, $596,399; net, $214,303. In 1881,
gross, $919,485; net, $349,863. Capital stock, $1,210,500. (V. (34, p.
231, 343; Y 35, p. 705; V 36, p. 29, 169, 312, 358.)
C leveland Y o u n g sto w n & P ittsb u r g .—Narrow gauge road in
progress from Alliance, O., to Steubenville, O., about 100 miles, and 32
miles branches. Earnings in 1881-82, $42,082; net, $15,330. Henry
W. Ford, President, 5 Cortlaudt St., New York. (V. 35, p. 456.)
' C o le b r o o h d a le .—Owns from Pottstown. Pa., to Barto, Pa., 13
miles. Leased for 20 years from Jan. 1,1870, to Philadelphia & Reading,
at 30 per cent of gross earnings. In June, 1880, default was made on
bonds. Gross earnings in 1880-81, $58,977; net earnings (30 per cent
rental), $17,693. Gross in 1881-82, $57,698; net, $17,309. Capital
stock, $297,215.
C o lu m b ia & G r e e n v ille (S. C .)—The company owns from
Columbia to Greenville, S. C., 143 miles; branches to Abbeville and
Anderson. 21 m ile s ; total, 164 miles. Also owns Laurens RR., 31 miles;
and leases Blue Ridge RR., 32 miles, and Spartanburg Union & Col. RR.,
68 miles. Total operated, 296 miles. In 1878 a Receiver took possession
of the Greenville & Columbia and the road was sold in foreclosure April
15. 1880, and reorganization was made under this name; preferred
stock, $1,000,000; common stock, $1,000,000; all in $100 shares.
A maiority of the stock is held by the Richmond & West Pt. Terminal
Co. The gross earnings on all lines in 1881-82 were $743,651; net,
$171,483; deficit in earnings to pay rentals and interest, $72,344.
Six per cent paid on pref. stock, December, 1882. (V. 35, p. 404, 449,
7 3 5 ; V. 36,p. 251, 560.)
Colorado Central*—Owns from Wyoming boundary line to Denver,
132 miles, and Julesburg to La Salle, 151 miles; and leases 9 miles
iu Wyoming to Hazard S t a t io n t o t a l standard gauge owned and
operated, 292 miles; Golden to Georgetown (narrow gauge) 28 miles,
and Forks of Creek to Central, 11 miles; total narrow-gauge, 39>
miles; total operated, 330 miles. Chartered in 1865, and main line
opened in 1870. It is owned by the Union Pacific. The new mortgage
bond was issued to take up the old 8 per cent bonds, of which $87,000
are vet out. Stock, $6,230,300. A dividend of 7 per cent paid m Decem­
ber, 1882. Gross earnings in 1882. $1,720,039; net, $680,165. Pay­
ments—Rental, $4,336; interest, $336,030; dividend, $436,12 L total,
$776.486. Sidney Dillon, President, New York.
C olu m b ia & P o rt D eposit.—Owns from Columbia, Pa., to
Port Deposit, Met; 40 miles. Leased to and operated by Pennsylvania
RR. Co. Rental, net earnings. Net earnings in 1881, paid to lessors,
$39,777. Capital stock, $497,100; funded debt, $1,882,000, and floats
ing debt (coupons), $594,195.
.

Cincinnati Washington <GBaltimore—( Continued) —
Baltimore Short Line mortgage...............*.........
Cincinnati & Baltimore mortgage...............- .........
Scioto & Hocking Valley mortgage....................--Cleveland Akron & Uolumbus—S to ck ....,.............
Cleveland Columbus Cincinnati <£ Ind.—S tock .....
1st mortgage Bel. & Ind........................- ................
do
C. C., C. & I. sinking fu n d...............
Cons. M. for $7,500,000 (sink, fund 1 p. c.). . . . . . .
Cleveland <&Mahoning Valley—Stock.........................
1st mortgage, extended............................................
3d mortg. (now 2d).......... .................... - ...................
Niles & New Lisbon, 1st mortgage..................... .
Cleveland <£Marietta.—Stock, ...................................
1st mortgage........ .
— ............................. —
Cleveland & Pittsburg—Guaranteed stock...............
4th mortgage (now 1st).....................................
Consolidated sinking fund mort. for $5,000,000..
- Construct iou and equipment bonds .....................
Cleve. Tuscar’s Val. <6 Wheeling—1st M.', (L.S.&T.V.)
1st mortgage, new, prior lien...................................
2d mortgage, .new .....................................................
E. & B., 1st mortgage...............................................
Cleveland Youngs. <6Pitts.—1st M.,g.,for $1,600,000
Colebrookdale—1st mortgage.......... ..........................
Colorado Central—1st mortgage, n ew ........... .........Columbia <6 Greenville—New mort.,g’ld,coup, or reg
2d mortgage...... i ............. .......................... - - - -----Columbia <&Port Deposit—1st mortgage... s..... .......

RAILROAD STOCKS AND

3 2

BONDS

[Vol, XXXVII.

Subscribers w i l l confer a great favor by givin g im m ediate notice o f any error discovered in these Tables
DESCRIPTION.
Bonds’—Pi'inei
INTEREST OR DIVIDENDS.
Date Size, or
pal, When DueAmount Rate per When
F or explanation of,c61umn headings, &c., Bee notes of
Par
of
Where Payable ana by SLoclcs—Last:
Outstanding
on first page of tables.
Road. Bonds Value.
Cent. Payable
Whom.
Dividend.
324
324
121
121
118
118
83
45
60
55
55
142
71
• 41
29
147
110
37
37
22
80
7
185
73

1860
1874
1875
1873
1870
1881
1864
1883
1879
1871
1882
1875
1866
1868

$100 $10,316,500
1,000
8,000,000
500 &c.
1,401,000
1.000
777,000
1,000
2,474,000
1,000
422,000
1.000
1,584,000
1,000
1,000,000
1,000
677,000
50
1,786,200
1,000
302,000
50
1,500,000
500 &c.
500,000
100
350, OOO
500 &c.
325,000
100
2,244,400
100 &c.
1,500,000
100
400,000
1,000
400,000
1,000
350,000
100
2,370,000
1,000
991,000
10Ó &c.
7,000,000
50,000
500 &c.
500,000
1,000"
5,594,000
1,000
225,000
1,000
803,500
1,000
445,000

C olu m bu s S lock in g V a lley Sc T o le d o .—Owns main line
from Toledo to Pomeroy, 257 miles; branches—Logan to Athens, 26;
Logan to Straitsville, 13; StraitsvEletoNelsonville, 17; others, 11; total,
324 miles,
This was a consolidation in July, 1881, of the Columbus & Hock­
ing Valley, Columbus & Toledo, and Ohio- & West Virginia. The sWcks
of those. companies were purchased and new consolidated stock for
$20,000,000 made, of which the above was issued. Of the consolidated
mortgage $6,500,000 is reserved to meet the prior liens'. The Central
Trust Co. cf New York is trustee.
Prior to the consolidation the Columbus & Hocking Valley had 112
miles of road, $2,500,000 debt and $2,400,000 stock. It had paid regu­
lar dividends o f 8 per cent for a number of years, with a small surplus
balance. The first dividend on the consolidated stock was that of 2 ^
per cent paid in January, 1883; Annual report in Vol. 37. p. 150, giving a statement of operations,
income, &c., for two years as follows :
■ ■ 1
1881.
1882.
Miles of railroad... .......................................
322‘50
324-00
Passenger miles................. . . . ....... ............16,134,712
17,495,682
Freight (tons) moved..... ............................ 2,309,123
2,602,232
Coal, included in freight......................... . 1,514,221
35,371,201
Gross Warnings.......... ................
$2,519,794
$2,886,437
Operating expenses ......................
1,329,137
1,752,734
Net earnings.......... »............ ................$ 1,190,657$1,133,703
Interest on bonds........................
$620,887
$866,060
Interest on debt...........................................
12,650
27,597
Rentals........ .........................
23,337
22,787
Balance—credit.....................................
533,783
216,465
Net earnings per mile......................*...........
3,691 96
3,500 63
Expenses to earnings.................................. 52-75 p. c.
60-72 p. c.
Average rate per passenger per mile.......
2-57 c.
2-60 e.
Average rate per ton per- mile..................
0-81 c.
0-89 c.
GENERAL BALANCE SHEET DECEMBER 31, 1882.
Cost of road.................. $14,413,799 Capital stock................ $10,316,500
Equipment.................
3,187,840 Funded d e b t............... 14,658,000
Real estate and build’g
315,055 Bills payable........
493,324
Stocks and bonds . ___
8,009,920 Current accounts . . . . .
314,288
Materials and fuel . . . .
213,557 Other liabilities..........
11,631
Docks and terminal
Lease warrants..........
1,102,617
property, Toledo___
502,941 Bond interest accrued
133,333
Car & locomotive tr’sts 1,102,617 Coupons not presented
8,147
Bills and accounts___
189,465 Profit and loss.........
929,614
Cash on h a n d .............
32,260
Total assets. . . . . . . $27,967,454
Total liabilities.... $27,967,454
—(V.35, p. 102,131, 213, 478, 486; V. 36, p .-251; V. 37, p 1 5 0 , 234,
4 3 1 .)
C olu m bu s Springfield & C in cin n a ti.—Owns from Columbus,
Ohio, to Springfield, Ohio, 44 miles. Leased with Cincinnati Sandusky
Ac Cleveland to Indiana Bloomington & Western, May 1,1881, for 33i3
per cent of gross earnings, with guarantee of $80,000 as minimum.
Of the excess over minimum, if any, on 33i3 basis, this company takes
one-fifth and Cincinnati Sandusky & Cleveland four-fifths. Capital
stock, $1,000,000, and bonds, $1,000,000.
. C olu m bu s Sc W e ste rn .—Owns from Opelika to Good water, Ala.,
60 miles; operates Columbus Branch of Western Railroad of Alabama,
29 miles—total 89 miles. The Savannah & Memphis RR. was foreclosed
June fi, 1880, and this Company organized. Extension was in progress
from Goodwater to Birmingham, Ala. The bonds are endorsed by Cen.
BR. of Georgia. Earnings in 1881-82, $144,744; net. $20,609. Stock.
$1,750,000. W. G. Raoul, President, Savannah.
C olu m b u s Sc X e n ia .—Owns from Columbus, Ohio, to Xenia, Ohio,
55 miles. Is operated as a division of the Little Miami, and is leased
for 99 years in connection with that road to the Pittsburg Cincinnati &
St. Louis, which pays 8 per cent on stock and provides for the bonds.
The lease is guaranteed by the Pennsylvania Railroad Company. The'
ColtunbUs & Xenia pays 8% per cent dividend per annum.
C on cord .—Owns from Concord, N. H., to Nashua,N. H., 35 miles;
Manchester & North Weare, 19 miles; Hookset Branch, 7 miles; leased—
Concord & Portsmouth, 41 miles; Suncook Valley, 20 miles; Nashua
Acton & Boston, 20 miles ; total operated, 142 miles. The company had
joint operating contracts with the Boston & Lowell part of the year.
See report V. 36, p. 650. Fiscal year ends March 31. Operations, earn­
ings, and income over rentals, &c., for four yeas past were :
Passenger Freight (ton)
Gross
Net
Div.
Years.
Miles.
Mileage,
Mileage.
Earnings. Earnings. p. c.
1879-80. .. 142 11,081,309 29,006,834 $870,088 $346,732 10
-1380-81 . . . 142 13,118,217 30,295,384
955,000
362,608 10
188182. .. 14221.499,671 31,976,137 1,258.419
471,208 10
188283 . . . 142 . . . . . . .
........... . 1,317,879
430,317 10
—(V. 35, p. 160; V. 36, p. 560, 6 5 0 , 675.)
C oncord & C larem on t.—Owns from Concord to Claremont,
N. H., 56 miles; branch, Contoocookville to Hillsborough, N. H..
15 miles; total operated, 71 miles. Consolidation of several small roads




5 S- M. & S.
A. & O.
J. & J.
F. & A.
M. & S.
M. & N.
M. & S.
J. & J.
2
Q.—M.
7
M. & S.
5
M. <fe N.
7
J. & J.
3ia J. & J.
7
A. & O.
3
F. & A.
7
A. & O.
3
F. & A.
6 g- J. & J.
5
J. & J.
4
J. & J.
6
M. & Si
5
J. & J.
5
A. & O.
7
J. & J.
5 & 6 M. & N.
7'g. J. & J.
6
M. &-S.
6
M. & N.
7
7
7
7
7
7
7

Jan. 10,1883
Sept. 1, 1931
Oct. 1, 1897
Jan. 1, 1892
Au#. 1, 1905
Sept. 1, 1900
May 1, 1910
Sept. 1, 1901
Jan. 1, 1911
Sept. 10,1883
Sept. 1,1890
Nov. 1, 1883
1894
July 2, 1883
Oet. 1, 1895
Aug. 1, 1883
April 1, 1893
Aug. 1, 1883.
Jan. 1, 1890
Jan. 1, 1911
July 2, 1883
i9oo-’ i- ’2-’ 3-’4
July 1, 1913
Oct., 1909
St. Albans. W. C. Smith. Jan. 1, 1891
Boston, Co.’s Office.
May 1, 1922
Phila. F. I. T. & S. D. Co. July 1, 1885
N.Y., Consol.Coal Office March 1,1891
May 1. 1888
N. Y., Winslow, L. & Co.
do
do
do
do
do
do
do
do
do
do
Bost.,3 Merchants’ Row
N. Y., Nat. City B’k.
Columbus Treasury.
N. Y., Am. Exch. N.'B’k
Bost. ¿¿Manchester ,N.H.
Bost., Treasurer’s office
Bost. &Manchester,N. H.
New York City.
Boston, Office.
do
do
do
do
Boston, Bost.& Alb. RR.
Phila., Penn. RR. Office.
Boston Office.

o
'Ö

Ï6 Ï
78
38
38

1881
1867
1872
1875
1880
1879
1871
1881

o
*0

Columbus Hocking Talley & Toledo—Stock..........
Consol, mortgage, gold (for $14,500,000)..........
1st mortgage, sinking fund bonds..........
2d mortgage bonds.............................. Columbus & Toledo, 1st mortgage coupon, s. f ...
do
2d mortgage coupon, s. f ___
Ohio & W. Va., 1st M.*(8. f. $15,000 begins in ’ 86)
Columbus Springfield <&Cincinnati—1at m ort.__
Columbus <£ Western—1st mort. (end. bv Cent. Ga.)
Columbus <£ Xenia—Stock........ ,
1st mortgage............................................................. Concord—Stock........................................
Concord <£ Claremont—Bonds.....................................
Concord <£•Portsmouth—Stock, guaranteed.............
Connecticut Central—1st mortgage, cp. or reg...........
Connecticut <6Passumpsic—Stock..............................
Mortgage bonds.................................. ............. ........
Massawippi st’k, guar, same div. as Cohn. & Pass.
do
bonds, guar, by Conn. & Pass............
Newport & Rich ford bonds', guar, by C. & P ........
Connecticut River—Stock..... ................................. .
Connecting (Phila.)—1st mortgage...........................
Consolidated RR. o f Vermont—1st mortgage.. . . ___
Mortgage bond (Vt. & Canada)...............................
Missisquoi Railroad bonds.......................................
Connotton Valley--New consolidated mortgage___
Corning Cowanesque a Antrim—1st mort., gold___
Cumberland <&Pennsylvania—1st mortgage!..........
2d mortgage, sinking fund, (guaranteed)...............

m 1873. Fiscal year ends March 31. Gross earnings in 1882-83, $153, 259; net earnings, $44.103. Capital stock, $410,900. Floating debt.
$254,245. (V. 36, p. 675.)
Concord Sc P o rtsm o u th .—Owns from Portsmouth, N. H., to
Manchester, N^ H., 40 ^ miles. The road was sold to first mort­
gage bondholders in 1857, and leased to Concord RR. in 1858. Lease
rental is $25,000 a-year, which gives 7 per cent a year to present stock­
holders. There is no debt.
Connecticut C entral.—Owns from East Hartford, Ct.,to Massa­
chusetts State Line, 20 miles; branch from Melrose to West Street, Ct., 7
miles; total operated, 28 miles. Leased to NewYork&New England RR.
for 15 years from June 1,1880, the rental to be net earnings, but never
to exceed 6 per cent per year on stock. Capital stock, $448,500; funded
debt, $325,000, all owned by New York & New England Railroad, (V.
35, p. 574.)
Connecticut Sc P a s s u m p s ic .-Owns from White River Junction
Vt., to Canada Line, 110 miles; leased, Massawippi Valley and branch
(Canada), 37 miles; total operated, 147 miles. The lease of Massawippi
Railroad is at 6 per cent on bonds and same dividends as are paid on
the stock of the lessee. Fiscal year ends June 30. Abstract of last
report in V. 37, p. 266. Operations and earnings' for four years past
were as follow s:
Passenger Freight (ton) Gross
Net
Div.
Years.
Miles.
Mileage. ' Mfieage.
Earnings. Earnings. p.c.
1879-80 ... 147
6,174,878 13,670,452 $657,547 $226,130
3
1880-81.. .. 147
6,117,700 19,726,662
774,146
311,165
5
1881-82 ... 147
7,198,586 22,589,950
851,749
303 845
6
1882-83.. I 147
8,365,277 22,792,090
884,851
270,969
6
—(V. 35, p. 297, 3 4 7 ; V. 37, p. 2 6 6 .)
Connecticut R iv e r.—Owns from Springfield, Mass., to South Ver­
non, Vt., 50 miles; branches, 6 miles; leased Ashuelot RR., South
Vernon, Vt., to Keene, N. H., 24 miles; total operated. 80 miles. Fiscal
year ends September 30. Net income 1880-81, $236,051; 1831-82,
$252,418. Pays 8 per cent dividends on stock and has no funded debt.
—(V. 35, p. 103, 5 7 7 .)
C onnecting (P h ila d elp h ia ).—Owns from Mantua Junction to
Frankford Junction, Pa., 7 miles. A connecting link in Philadel­
phia to the West and South. Operated by Pennsylvania Railroad.
Rental, 6 per cent on capital stock, $1,278,300; and interest on funded
debt, $991,000. The bonds are issued in series A B C and D, maturing
respectively in 1900-’l , ’2. ’3 and ’4.
C onsolidated R a ilro a d o f V e rm o n t.—Road owned—Windsor,
Vt., to Burlington, Vt., 120 miles; Essex Junction to Rouse’s Point, 47;
Essex to Burlington, 8; Swanton to State line, 10; total, 185 miles.
Leased—Addison RR., 16 miles; Mi ntpelier & White River RR., 8 ;
Montreal & Vt. Junction RR., 26; Rutland RR., 120; Stan..S. & Ch.
RR., 4 3 ; Vermont & Mass., 2 1 ; New London No., 100; Brat. & White­
hall RR., 36. Total owned, leased and operated, 555 miles.
This is the title of the new corporation formed on the reorganization of
the Central Vermont and Vermont & Canada companies in 1883. The
holders of the first and second mortgage bonds filed articles of association
with the Secretary of State of Vermont on April ¿4,1883, for organizing
the new company. Preferred stpck is $750,000. (See scheme of reor­
ganization in V. 35, p. 125.) An nyunction was issued, and consolidation
impeded. The Central Vermont, which operated all this mileage in 1882,
reported earnings on 419 miles as $2,760,834 gross and $541,435 net.
Rent of leased lines $347,500. Net earnings in 1881, $645,638; in
1880, $796,026. (V. 36, p. 479, 560, 623, 674; V. 37, p, 234, 293, 344.)
C o n n o t t o n V a lle y .—Owns from Cleveland to Sherrodsville, 103
miles; Canton to Coshocton, 5 5 ; Oneida to Minerva, 3; total, 161.
This includes the Connotton Valley & Straitsville. In February, 1882,
the company became embarrassed and new arrangements were made.
The consolidated mortgage was issued ($7,000,000 authorized) in twoseries, of 5 and 6 per cent bonds, only different in that the first take 5
per cent until May, 1885, and then 6 per cent. All the old 7 per cents,
except $69,000. and all the Con. & Straitsville bonds, except $78,000,
had been retired up to June, 1883. Preferred stock issued is $885,850;
common stock, $5,000,000. Gross earnings, 1882, $231,640; net, $37,664. In Nov.', 1882, default was made on the bonded interest. Francis
Bartlett, President, Boston. (V. 35, p. 133, 313, 486, 515, 763; V. 36,
p. 195, 312, 674; V. 37, p. 74, 99.)
C orning C ow anesque Sc A n trim .—Owns from Coming, N. Y.,
to Antrim, Pa., 53 miles; branch, Lawrenceville to Harrison Valley,
Pa., 32; total operated, 85 miles. Consolidation (January, 1873)
of the Blossburg & Corning RR. and the Wellsboro RR. June 1, 1874,
the Cowanesque Valley RR. was absorbed. These lines are leased to and
operated by the FaE Brook Coal Co. Rental paid—7 per cent on bonds,
6 per cent on common stock and 7 per cent on preferred stock; divi­
dends paid quarterly, March 31, &c. Stock-comm on, $1,500,000, and
preferred, $500,000. The coal iine of Phila. & Reading and N. Y. Cen­
tral is over the road of this company, winch jointly guarantees the
bonds of the Jersey Shore Pine Creek & Buffalo road. Earnings in
1882, $571,537; net, $139,261. George J. Magee, Prest., Watkins, N.Y.
—(V. 35,'p. 235, 546.)
C um berland & P e n n sy lv a n ia .—Owns from Cumberland, Md..
to Piedmont, Md., and several branches, 55 miles. It is owned and
operated by ConsoEdation Coal Company, which guarantees second
mortgage.

O ctober , 1883. J

RAILROAD

STOCKS AND

33

RONDS.

Subscribers w i l l confer a great favor by g iv in g im m ediate notice o f any error discovered in these T a b le s.'
Bonds—Princi­
. IN’ IRREST OR DIVIDENDS.
DESCRIPTION.
Due."
Miles Date Size, or
Amohnt Rate per When (Where Payable, and by pal,When
Stocks—Last
Pair
For explanation of column headings, &c., see notes] Of- : ■- of
Outstanding
Cent.
Payable
Whom.
Dividend.
Value
Road. Bonds.
on first page of tables.
Cumberland, Valley—Stock ($484,900 is preferred!. 125
$59 $1,777,850
52
161,000
500 &c.
1st mortgage.. .................. ..-..................... ................
109,500
52
500 &c.
2d mortgage, sinking fund guaranteed.................
81,800
100 &c.
Common bonds ..•...................'......... '....... ......... .
600,000
50
3(5*2
Danbury <£ Norwalk—Stoc]£...................................
400,000
33 ’70-’72 100 &c.
1st and 2d mortgages........ ....................- ..........
100,000
1880
Consolidated mortgage......... ........ . . . . . . . . . ....... . ..
801,000
Danv.Olney & O.Riv.—1st (for $1.000,000) cp.or reg. 100 1880 500 &c.
2,402,573
50
Dayton <£•Michigan—Com. stock (3hi guar.C.H.&D.) 141
1,211,250
50
Preferred stock, (8 percent, guar C. H. & D .).... 141 1871
426,000
1,000
2d toortgage.
........ — .... - - -¡3— - ->•••: 142 1867
351,000
142 1869' 1,000
3d mortgage................................................ .
1,898,000
142
1.000
1881
Consol, mortgage, guar, by C. H. & D ........... ------225.000
32 1879
1,000
Dayton <&Union—1st mortgage..................................
1,000
173,000
1879
Income mortgage bonds......."..................... .............
495,000
1,000
41 1865
Dayton (6 Western—1st M., guar. L. M. and C. & X .
1,497,215
25
85
Delaware—Stock........ .......................................... . —
1,000
650,000
85 1875
Mortgage bonds, convertible, guar. P. W. & B __
1,692,000
31
Delaware <£Bound Brook—Stock, guaranteed.........
1,500,000
27 1875
1st mortgage............... ...........................v —
192,000
2d mortgage debenture bonds, reg.........................
50 26,200,000
731
Delaware Lackawanna <6 Western—Stock...............
3.067,000
Consol, mort., on roads equipm’t, ($10,000,000) 288 1877
1,000
600,000
1872
Plain bonds.. . : .................................................
370,900
60 1859 10Ó &c.
Lackawanna & Bloomsb., 1st mort. (extension)..
Denver £ New Orleans—1st m ortgage................
’ ***
Too 35,000,000
Denver <£Rio Grande—Stock.......................... .......... :. 1,281
6,382,500
1st mort., gold, sinking fund................ *................ 294 1870 500 &c.
1880 500 &c. 18,740,500
1st consol, mortgage ($15,000 per mile)................
1,000
5,000,000
General mortg., convertible (for $50,000,000).... AÌ1. 1883
3,613,000
Car trusts (mature 10 percent yearly....... ..........
C u m berlan d V a lle y .—Owns from Harrisburg, Pa., to Potomac
River, Md., 82 miles; leased—Martinsburg & Potomac RR., 12 miles;
Dillsburg & Mechanicsburg RR., 8 miles ; 'Southern Pennsylvania RR.,
21 miles; controlled, Mont Alto RR., 18 miles; total controlled and
operated, 141 miles. Owns or leases several factory roads, in all about
43 miles. The stock is owned in large, part by Pennsylvania RR. Go.
Last annual report V. 36, p. 364. Lai’ge advances have been made to
branch roads. Operations and earnings on the main line for three years
past were as foil >ws :
Passenger Freight (ton) Gross
Net
Div.p.c.—.
Years.
Miles. Mileage. Mileage; Earnings. Earn’gs. Pref. Com.
10
1880 ........... 125 7,336,350 14,048,062 $536,945 $230,199 10
1881 ........... 125 8,967,357 18,361,654 622,533 220,429 10
10
1882 ........... 125 9,708,701 23^210,726 681,305 229,452 10
10
—(Y. 36, p. 304, 3 64.)
D an b u ry & N o r w a lk .—Owns from Danbury, Conn., to Wilson,
Pt., South Norwalk, Conn., 26*2 miles; branches to Ridgefield and
Hawley ville, together 10 miles; total operated, 36*2 miles. Dividends
have been irregular. Operations and earnings for three years past were
as follows:
Div.
Gross.
Net
Passenger Freight (ton)
Earnings. Earnings. p. c.
Mileage.
Years.’
Miles. Mileage.
$60,079
$181,407
3,301,269 1,308*897
2*2
1879-80 . . 34
88,341
5
195,163
3,608,823 1,228,828
1880-81 . . 34
200,993
72,990
1,330,145
5
3,698,860
1881-82.... 36*2
F. S. Lockwood, President, Norwalk, (V. 35, p. 237.)
D a n v ille Olney & Ohio R iv e r .—This road is projected from Dan­
ville, 111., to Olney, and to the Ohio River, 243 miles, of which L10 miles,
Danville to Olney are in operation; also 20 miles of Chicago & Eastern
Illinois leased. Bonds offered in 1881 by R. M. Raven & Co., at par,
with $500 stock given with each $1,000 bond. Stock authorized,
$2,000,000 ; issued, $1,000,000. In Nov., 1882, company became em­
barrassed and receiver appointed. P. C. Chandler, President, Boston:
Charles Howard, Receiver, Danville, HI. (V. 35, p. 265, 266, 373, 538,
574,658 ; Y. 36, p. 29, 80, 510.)
D ay to n & M ic h ig a n .—Owns from Dayton, O., to Toledo, O., 141
miles. Leased May 1,1863, in perpetuity to the Cincinnati Hamilton &
Dayton. Lease amended January 23,1370. The rental is the interest
and sinking fund of debt, and 8 per cent on preferred stock and 3*2 per
cent on $1,010,000 common. Of the common stock $1,010,000 only is
guaranteed 3*2 by C. H. & D. Profit to lessee, in 1881-82, $27,ls2 ;
1882-83, $201,138. The lessees hold $1,398,100 of the common stock.
D ayton & U n io n .—Owns from Dodson, Ohio, to Union Cicy, Ind.,
32 miles; leased Dayton to Dorlson, 15 miles; total operated, 47 miles.
The Greenville & Miami RR. was sold out Oct. 30,1862, ind re-organ­
ized as now in Feb, 1863. Operated by trustees since December, 1871.
Capital stock, $86,300. In year ending Oct. 31,1882, gross earnings,
$154,761 ; net earnings, $26,251.
D ayton & W e s te rn .—Owns from Dayton, O., to State Line, Ind.,
37 miles. Leased in perpetuity from Jan. 1, 1865, to Little Miami,and carried with that road in the general lease to the P. C. & St. L. The
lessees are virtual owners and are answerable for all obligations.
D e la w a re .—Owns from Delaware Junction (P. W. & B.), Del., to
Delmar (Md. Line), 84 miles ; branches, 16 miles; total operated, 100
miles, less two branches (15 miles) operated by the Dorchester &
Delaware and Queen Anne & K. railroads. The Delaware Railroad was
opened 1855-60, and is leased for 21 years from 1876 to the P. W. & B.
Co. ; rental 30 per cent of gross earnings, but stock must have 6 per
cent. Gross earnings in 1880-81, $428,747; net, $128,624. Gross in,
1881-82, $595,078 ; net, $178,523.
D ela w a re & R o u n d R r o o k .—Owns from Bound Brook (Cent,
o f New Jersey) to Delaware River, 27 miles ; branch, main line to
Trenton, 4 miles ; total operated, 31 miles. In connection with Central
of New Jersey and North Pennsylvania forms a line between New
york and Philadelphia. In May, 1879, the property was leased for
990 years to the Philadelphia & Reading Railroad Company—the lessee
paying interest and 8 per cent on stock after May, 1883. Gross earnings
in 1881, $668.489; net. $334,462. In 1882, gross, $693,525; net,
$326,334. Surplus profit to lessee, $85,374.
D elaw are L a ck a w a n n a & W e ste rn .—This com ping owns and
operates under lease an extended system of roads in New York, Penn­
sylvania and New Jersey, which requires a map to show the strength of
Its location clearly. ,Owns from Delaware River (N. J. Une) to New
York State Une. 115 miles;' branches—Scranton to Northumberland,
80 miles; Greenville to Win ton, Pa., 8 miles; to Storrs, 3 miles; Junction
to Keyser VaUey, Pa., 5 miles; leased lines in New York—N. Y. Lack. &
Western RR., 214 miles; Cayuga & Susquehanna RR., 31 miles;
Green RR. 8 miles; Oswego & Syracuse Railroad, 35 miles; Utica
Chenango & Susquehanna Valley RR., 97 miles; Valley RR., 12 miles;
controlled and operated—Syracuse Binghamton & New York, 81 miles ;
leased lines in New Jersey—Chester RR., 10 miles; Morris & Essex, 118
miles; Newark <fc Bloomfield, 4 miles; Warren RR., 18 miles; Sussex,
30 miles; Passaic & Del., 14; total operated, 886 miles; the Rome &
Clinton, 13 miles, and thé Utica Clinton & Binghampton, 31 miles, were
surrendered April, 1883.
In 1882 the important connection to Buffalo, the New York Lack­
awanna & Western was opened, and the road was leased by this




2*2
8
8 '
6
2*2
7
6
7
1-66
2
7
7
5
7
6
6&7
3
6
2
7
6
2
7
7
7

Q .-J .
A. & O.
A. & 0.
A. & O.
Various
J. & J.
J. & J.
j . & J.
A. & 0.
Q .-J .
M. & 8.
A. & O.
J. & J.
J. & D.
J. & D.
J. & J.
J'. & J.
J. & J.
Q .-F .
F. & A.
M. & N.
Q .-J .
M. & S.
J. & D.
M. & S.

Phila. and Carlisle. Pa.
Phila., T. A. Biddle & Co.
do
do
- do
do
New York and Danburv
N. Y., Nat. City Bank.
do
do
N. Y., Farm. L. & Tr. Co.
Cincinnati. C. H.& D.Co.
N. Y., Winslow, L. & Co.
do
do
do
do
do
do
N.Y., Am.Exck.Nat.Bk.

Oct. 2, 1883
April 1, 1904
A p r ili, 1908
Jan. 1, 1884
April 20, 1883
1920, ’90, ’92
1920
Jän. 1, 1910
Oct. 1, 1883
Oct. 4, 1883
Sept., 1884
Oct,, 1888
Jan. 1, 1911
Dec. 1, 1909
After 1910 N. Y., Am. Exch. N. B’k Jan. 1, 1905
Dover, Co.’s Office.
July 2, 1833
Phil., Fid. Ï.T.&.S.D. Co. July 1, 1895
Philadelphia.
Aug., 1883
Phila.,Guar.T.&S.D.Co. May, 1905
Philadelphia.
New York, Office.
Oct. 20,1883
do
do
Sept. 1.1907
do
do
June, 1892
do
do
March, 1885

” 1*2
Q-—j • N. Y., Company’s Office.
do
do
7 g. M. & N.
do
dö
7
J. & J.
A. & O.
do
do
5
7&6

Jan. 14, 1882
Nov. 1, 1900
Jan. 1, 1910
Oct. 1, 1913
Yearly.

company. The Lackawanna & Bloomsburg was consolidated with this
company June 19,1873.
The Delaware Lackawanna & Western management has furnished Uttle
information, concerning its earnings or finances, no annual reports
in pamphlet or monthly statements of earnings having been issued. The .
road was operated mainly as a coal carrier and distributer till 1882,
when the line from Binghamton to Buttalo was built and leased to the
Delaware Lackawanna & Western, and the company entered the field as
a competitor of the trunk Unes between New York and Buffalo, The
minority stockholders complained much of the lease, .and the guarantee
of the New York Lackawanna & Western stockand bonds, which entailed
a charge of $1,2 20,000 per yearoh the Delaware Lackawanua & Western,
and made the securities of the leased road valuable, thus bringing large
profits to the construction company which had built it. The Delaware
Lackawanna & Western stockholders claimed that the opportunity
should have been offered them to subscribe for the ; stock and bonds Of
the new line, which were to be guaranteed..
The Delaware Lackawanna & Western formerly paid 10 per cent on its
stock, but its numerous railroad leases became onerous, and in the dull
times, 1876 to 1880, no dividends were paid ; in 1880 3 per cent was
paid ; 1881, 6% ; 1882, S ; 1883, to October, 6.
Prices of stock yearly since 1870 have been: 1871,102®111*2; 1872,
9 l@ ll2 * 2 ; 1873, 79*2® 106; 1874, 99S11238; 1875, 106*2®123f 1876,
64*2®1203s; 1877, 3078®77: 1878, 41 affiles; 1879, 43o>94; 1880, 63*2
® 110*4; 1881,107®131; 1882, 116*4®150*4; 1883 to last Saturday,
111*2®131*2.
The following is a synopsis from the company’s income account for
four years :
1879.
1880.
1831.
1882.
i
$

$

$"

.

$ -

Earn’gs, receipts, coal, &c.20,226,708 21,656,604 27,398,526 27,006,267
Operating expenses...........16,416,256 15,753,134 19,632,662 20,163,078
Net receipts..............

3,810,452 5,903,470 7,763,864 6,843,189
INCOME ACCOUNT.
$
^
'
Net receipts............................................ 3,810,452 5,903,470 7,763,864-6,843.189*
Interest and rentals.......... 3,624,431 3,627,381 3,558,494 3,620,708

Balance, surplus....................................
D iv id e n d s * ............-....
............

186,021 2,276.089 4,205,370 3,222,481
786,000 1,768,500 2.096,000

Balance after dividends..
186,021 1,490,089- 2,436,870 1,126,481
* In 1880 3 per cent; in 1831, C?t per cent; in 1832, 8.
—(V. 36, p. 2 1 8 , 687.)
D enver & N ew O rleans.—Projected from Denver, via Pueblo to
the. Canadian River, 350 miles, and in 1882, Denver to Pueblo. 120 miles,
and 13 miles branches, had been completed. Built by a Construction
Company. See circular in V. 35, p. 601. In 1883 the Construction Co.
became embarrased and $2,286,000 bonds and $2,540,000 stock pledged
were sold by the Mercantile Trust Co. on Sept. 20. Jno. Evans, Presi­
dent, Denver. (V. 35, p. 131, 347, 601, 677 ; V. 36, p. 536, 590, 623 ;
V. 37, p. 68, 99, 321.)
D enver & R i o Grande (3 feet.)— (See Map). — Owns from.
Denver City, Col., to Alamosa, Col., 251 Miles ; branches—Pueblo,
Col., to Canon City and Coal Mines, 44 miles; Cuchara, Còl., to
El Moro, Col.. 45 miles; also lines to. Lead ville, Durango, Gunnison
City, Crested Butte, Redcliffe, Kokomo, Silver Cliff, and-others, the-total operated Jan. 1,1883, aggregating 1,281 miles. On March 30,
1883, connection to Salt Lake was finished by the Denver & R.'o Grande
Western, and that road leased, this company paying 40 per cent of gross
earnings as rental,
The trust deed of the consolidated mortgage is to Louis H. Meyer and
John A. Stewart, of New York, as trustees. Of the $30,000,000 bonds
$7,422,200 were to be used in retiring prior issues, and the bonds were
issued at $15,000 per mile. Of the consol, mort. $1,040,000 were
exchanged for Arkansas Division bonds held by trustees of the Colorado
Coal & Iron Co.
. The general mortgage of 1833 is issued for an authorized amount of
$50,000,000, and enough reserved to retire ah prior bonds. The bonds
are convertible, on 60 days’ notice, into stock of the company. Thè mort­
gage covers all road and equipment and the leasehold rights in the Denver
.& Rio Grande Western.
The annual report for 1882 in the Chronicle, V. 36, p. 477, gives par­
ticulars of the financial condition, &c. The report of Mr. Palmer, Presiaent, had the following remarks :
“ Since the date of last report, your company has leased the road of
the Denver & Rio Grande Western Railroad Company for a term of
thirty years. The terms of the lease are, that your company pay the
lessor company 40 per cent of the gross receipts of the leassd line, if
that sum is sufficient to pay the interest on its bonds. If not sufficient
-to pay the interest, then your company guarantees payment of a sum
equal to six per cent on $16,000 per mile of finished road which has been
transferred to and accepted by your company for operation. Tue maxi­
mum amount of bonds guaranteed by the lease is. $7,500,000 at 6 per
cent.” . * * *
’
JM i
“ The amount of interest for which your company will be responsible
under the lease when1the line reaches Ogden will be about $400,000
per annum, which would require $1,000,000 gross earnings. It is not
unreasonable to expect from the business done during the past five-

RAILROAD
STOCKS AND
BONDS,
[Vol. xxxvir.




RAILROAD STOCKS AND BONDS.

OCTOBER, 1883.]

35

Subscribers w ill confer a great favor bF g iv in g im m ediate notice o f any error discovered in these Tables.
Bonds—Princi­
INTEREST OR DIVIDENDS.
DESCRIPTION.
Miles Date Size, or
Amount Rate per When Where Payable, and by pal,When Due.
Par Outstanding
of
Stocks—Last
For explanation of column headings, &c., see notes of
Road. Bonds Value.
Cent. Payable
Whom.
Dividend,
on first page of tables.
De.nv.dk R.Gr.West.—1st, g. ($16,000 p.m.),cp.of reg.
Denver South Parle <£ Pacific—stock___............... .
1st mortgage, gold, sinking fund............. ........... .
Consol, mort. gold ($17,000 per mile)...................
Denver West, dk Pac.—1st M., gold ($30,000 per m.).
Des Moines dk Ft. Dodge—1st mort., coup..................
1st mortgage, incom e............ ............. ...................
Mortgage on extension........... .......................... .
Des Moines Osceola dk Southern—1st M. ($6,000p.m.)
Detroit Grand. Haven dkMilwaukee—Stock ...............
j 1st mortgage, guar., (for $2.000,000)........ ............
Consolidated mortgage, gu a r..................................
3d mortgage (Detroit & Pontiac RR.), Feb. 18&4,
Detroit Hillsdale dk S. W.—Stock....................... ........
Detroit Lansing dk North.—Stock, common................
Preferred stock............................ . . . . . . . . . . ___. . . .
1st mortgage.......... . . . . . . . i . . . . . . . . . . . . . .
Ionia & Lansing, 1st mort., coup., may be reg—
Detroit Mackinac <&Marquette—1st mortgage,.........
Land grant bonds (income)....*...... ......................
Income bonds..................................... : ....................
Saginaw & West, mortgage, guaranteed.................
Dubuque dkDak.—1st M., gold. gu. (payable at 105)
Dubuque dk Sioux Oily—Stock........ .......... .................
1st mortgage, 2d division........................................
Duluth dk Winnipeg—1st mortgage, gold, land grant
2d mortgage, income.................................................
Dunkirk AUegh. Valley dk Pittsburg—1st mort., gold
2d m ortgage................................... .................... .
3d mortgage...............................................................

380
269
150
87
87
56
300
189
189
189

1881
1876
1880
1881
1874
1874
1881
1880
1878
1878
1854
....

....
....
1877
1869
1882
1881
1881
1883
1879
1864
1881
90
90
90

1870
1870
1870

$1,000
100
1,000
1,000
1,000
1,000
1.000
1,000

$6.157,000
5,292,800
1,800,000
1,534,000
1,000.000
1,200,000
1,200,000
672,000
.
670,000
100
1,500,000
1,000
1,750,000
200 &c.
3,200,000
1,000
250,000
....
1,350,000
100
1,825,600
100
2,503,300
500 &o.
2,487,000
1.000
770.000
1,000
2,280,000
1,000
4,560,000
1,000
1,500,000
1,000
432,000
1,000
630,000
100
5,000,000
500 &c.
586,000
1,000 18,000 p.m.
7,000 p.m.
1,000
2,000,000
- 1,000
1,000,000
1,000
200,000

months on 155 miles of detached line that the gross earnings of the
whole line when put in operation will reach at least $1,500,000 per
annum.
The following is a summary of the floating liabilities and assets on
Deo. 31,1882:
Liabilities of all descriptions (as per general account)........ $3,007,931
Against which there are assets as follows :
Cash, bills and current accounts.......................$1,389,862
Advanced on Utah lin e s ................ . . .........
135,095
Advanced to Rio Grande West. Const. Co. (almost
entirely repaid since Jan. 1, 1883).................. 1,143,000
•Securities on hand (marketvalue)....... ...............
384,750— 3,352,707
$344,776
Surplus assets...............................................
“ The company has, therefore, no floating debt, and in addition to
above surplus assets has materials, fuel, &c., on hand, amounting by
actual valuation to $1,024,251, making total available assets Dec. 31,
1882, $1,369,026.”
Income account for three years is as follow s:
1880.
1881.
1882.
Tot. miles oper’d at close of yr.
686
1,067
1,282
- Earnings—
$
$
$ ,
Passenger.................................
945,030
1,563,632
1,589,558
4,332,150
4,412,185
F reigh t........... ....................... 2,411,457
Mail, express, & o............
121,579
348,998
403,237
3,478,066
1,767,605

6,244,780
3,620,030

6,404,980
3,821,123

Net earnings.................................1,710,461

2,624,750

2,583,857

$
1,730.768

$
2,624,764

$
2,620,628

1,150,453
........
....
246,512

1,199,541
149,830
(6) 914,100
19,607

1,602.443
224,430

Total gross earnings........
Operating expenses...............

INCOME ACCOUNT.

Receipts
Total net income ....................
Disbursements—
Interest on d e b t...........
Taxes.................
Dividends.................
Miscellaneous...................

'73,876

Total disbursements...... 1,396,965
2,283,078
1,900,749
Balance, surp lus..................
333,803
341,686
719,879
—(V. 35, p. 78, 103, 182, 211, 213,313, 3 3 9 ,347,430,431,456,478.
515, 545, 602. 625, 705, 737: V. 36, p. 110, 139, 169, 399, 4 7 7 ; V. 37,
p. 151,188, 234, 266, 342, 375, 399, 424.)
D en ver Sc R io Grande W e ste rn (n a rro w gau ge).—The mort­
gage covers lines in Utah Territory oi about 469 miles id all. Com­
pleted 366 miles, as follows: From Salt Lake City to the border of
Colorado, 274 miles; from Salt Lake City to Ogden, 36 m iles; branch
to Bingham Canyon, 16 mile s ; branch up Little Cottonwood, 18 miles;
branch to Pleasant Valley Coal Mines, 21 miles; total completed, 366
miles. The stock by charter is $48,000,000; issued on 469 miles,
$7,500,000. The road is leased for 30 years to the Denver & Rio
Grande, at 40 per cent of gross earnings, with a guaranty of interest
b y the lessee on $7,500,000 1st mortgage bonds so far as issued. (V.
3 5 , p. 431; V. 36, p. 169, 560, 674, 675.)
D enver South P a rk Sc Pacific (3 ft .)—Owns from Denver, Col.,
to Buena Vista, Col., 135 miles; extension to Gunnison, 68 miles; MorrisonB r., 11 miles; Breekenridge Br., 35 miles; Fairplay Br., 15 miles;
others, 3 mi’e s ; total, 269 miles.
First mortgage bonds issued
at the rate of $12,000 per mile of finished road. In Oct., 1880, the con­
sol. mortgage was made for $15,000,000, to be at $17,000 per mile on
whole road, old and new, less the amount of first mortgage on the
old. Stock controlled by Union Pacific. In 1881 gross earnings were
$1.464,228; net, $309,757; in 1882 gross', $1,558.723; net, $377,449.
Sidney Dillon, President, N. Y. City. (V. 35, p. 1 0 2 , 103.)
D en ver W e ste rn Sc P acific.—Denver to Longmont, Col. For
$3,060 in cash the company gave $3,000 in 1st mortgage bonds and
$1,500 in stock. Stock is $1,000,000, of which Union Pacific owns
$762,500.
D es M oin es Sc F o rt D od ge.—Owns from Des Moines to Fort
Dodge, Iowa, 87 miles, with an extension 56 miles to Rutkven, con­
necting with Chicago Mil. & St. Paul. First 87 miles originally adivision of the Des Moines Valley RR., built in 1870 and sold out in
1873. Common stock, $4,283,000; preferred, $758,280. Annual
report in V. 36, p. 622, had the following remarks: “ During the
year the road has received extensive improvements, greatly inereasjolu e. The extension has been completed from Tara, near
JTor5_Dodge, running in a northwesterly direction across the Chicago &
Ncmthwestern Railroad at Rolf, and intersecting the Chicago Milwaukee
& St. Paul Railroad at Ruthven, a distance of 56-3 miles, together with
the necessary bridges, depots, grain-houses and cattle yards. This work
has been done slowly during tne last two years, but it has been done
well and economically.” * * * “ The gross earnings of the road fall
short by $54,000 what they were during the previous year, caused by
the competition of two new roads crossing the line and the general reuuction of rates. The corn crop is of greatly diminished amount also,
but this we have reason to expect will be better during the next year.
The increased rate of the operating expenses is due in a degree to the




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M. & S. 'N . Y., Co.’s Agency.
New York.
M. & N. N.Y., London & Frankf’t
J. & J. N. Y.. Co.’s Agency.
J. & \J.
New Yorx.
J. & J. N. Y., Morton, B. &Co.
J. & J.
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Sept. 1, 1911
Aug. 1 5 ,188»
May 1, 1905
Jan. 1, 1921
Jan. 1, 1911
June I, 1905
June 1, 1905
1905
1896
1881
1918
1918
Feb. 15, 1888
July 5, 1883
Aug. 15,1883
Aug. 15, 1883
Jan 1, 1907
July 1, 1889
Oct. 1, 1921
Oct. 1, 1911
Oct. 1, 1921
July 1, 1913
July 1. 1919
Oct. 15, 1883
1894
May 1, 1911

7 g. J. & D. N.Y., N.Y. Cent. & Hud. June, Ì8 90
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Oct. 1, 1890
A. & O.
7
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Oct. 1. 1890

work on the extension and the hauling of construction materials, which
will be omitted the coming year.” Gross earnings in 1881, $401,532 •
net, $172,543. In 1882 gross, $347,168; net, $120,286. For eight
months of 1883 gross earnings were $198,429, net, $42,870; against
$223,868 gross and $66,008 net in 1882. (V. 35,Ip. 313,574, 603: V
36, p. 6 22.)
Des M oin es Osceola Sc So u th ern .—Projected from Des Moines,
la., to Kansas City, Mo., 300 miles, of which a portion is built; and in
March, 1883, 100 miles opened. Stock issued, $500,000, $7,000 per
m ile; bonds, $6,000 per mile. B. L. Harding, President, Des Moines.
D etroit G rand H a v e n & M ilw a u k e e .—Owns from Detroit,
Mich., to Grand Haven, Mich., 189 miles. This is a reorganization of
the Detroit & Milwaukee which was sold in foreclosure Sept., 1878. A
sufficient amount of first mortgage bonds is reserved to retire Detroit
& P. bonds on maturity. The bonds are guaranteed by the Gt. Western
of Canada. Gross earnings in 1881, $1,200,928; net, $317,247; in
1882 gross, $1,348,565; net, $339,453.
D etroit H illsd a le Sc So u th w estern .—Owns from Ypsilanti,
Mich., to Bankers, Mich., 65 miles. The Det. H. & Ind. road was sold
in foreclosure Dec. 28,1874, and this company organized by the bond­
holders. In Aug., 1881, leased in perpetuity to the Lake Shore & Mich:
Southern Co. for $40,500 per year (3 per cent) on stock for two years,
and $54,000 per year (4 p. ct.) afterward.
D etroit L a n sin g Sc N orth ern .—Owns from Grand Trunk
Junction, Mich., to Howard City, Mich., 157 miles; branches—Stanton
Junction to Big Rapids, Mich., 63 miles; Belding Branch, lig miles;
leased, Grand Trunk Junction to Detroit, 3 miles; Lansing to No.
Lansing, 1 mile; total operated, 225 miles. A consolidation; April 11,
1871, of the Detroit Howell & Lansing, the Ionia & Lansing and the
.Ionia Stanton & Northern railroads, under the name of Detroit Lansing
& Lake Michigan RR., which was sold in foreclosure December 14,1876,
and new stock issued as above. In Jifiy, 1883, leased the Saginaw &
Western and endorsed the bonds. (See V. 36, p. 674.)
The annual report for 1882, in V. 36, p. 364, had the follow ing:
“ The income account for 1882 shows the following: Balance of account
Jan. 1,1882, $51,512; net earnings of 1832, $461,0S2; total income,
$512,594. Anuual interest, $223,549; 7 per. cent dividend o n preferred
stock paid Aug. 15, 1832, and Feb. 15, 1833, $175,281; 3 per cent
dividend on common stock paid Feb. 15,1883, $54,765; balance to
credit of income account, after paying dividends of Feb. 15, 1883,
$59,048. During the year the bonded debt was increased by the sale
of $44,000 Detroit Lansing & Northern RR. Co. 7 per cent bonds, due
Jap. 1,1907, to provide for the $50,000 depot ground bonds paid in
1881.”
1881.
1882. .
Total gross earnings.............................................. $1,377,698
$1,597,142
Total net income.. .................
$446,912
$171,507
Disbursements, including 7 per cent div...........
410,757
409,205
Balance, surplus...............................................
$36,155
$62,302
- ( V . 36, p. 3 6 4 , 674.)
D etroit M a ck in ac Sc M arqu ette.—Owns from Straits of Mack-,
inac to Marquette, 152 miles; branch projected to Sault St. Marie,
48 miles, and extension west to Ishpening, 17 miles. This road is in-^
tended to form, in connection with ottiers already built, a line along the .
south shore of Lake Superior. The stock was increased in 1883 to
$10,000,000, in $100 shares. The land bonds receive 25 per cent of
net proceeds of land sales as their yearly income. Gross earnings i in
1882, $243,514; net, $42,715. Jas. McMillan, President;' George I.
Seney, director in New York. (V. 37, p. 68.)
D u bu q u e Sc D a k o ta .—Owns from Waverly to Hampton, 41 miles,
and from Sumner, la., to Waverly, la, 23 miles. Built on the old grading
of the Iowa Pacific. The Dubuque & Sioux City Co. guarantees the bonds
issued for construction to the extent of $10,000 per mile. Bonds may be
paid off at any time at 105. Pref. stock $410,000 and ordinary stock
$156,600. Gross earnings in 1882, $81,958; net, $34,174.
D ubuque Sc Siou x City.—Owns from Dubuque, Iowa, to Iowa
Falls, 143 miles. Chartered as Dubuque & Pacific in 1856, foreclosed in
1860, and present company organized. Leased to Illinois Central from
Oct. 1. 1867, for 20 years, the lessees agreeing to pay 35 per cent of
gross earnings for ten years and 36 per cent for next ten years, with
privilege to make the lease perpetual at the latter rate. Gross earnings
in 1831, $1,110,041; rental, $399,6i4; gross in 1882, $1,093,866; net,
$393,791. M. K. Jesup, President, N. Y. City. (V. 35, p. 737.)
D u lu th Sc W in n ip e g .—Projected from Duluth to Manitoba
boundary line, 280 miles. The land grant amounts to 1,8,00,000 acres.
which is subject to the first mortgage. The stock is $5,000,000. Wm.
W. Spalding, President, Duluth.
D u n k ir k A llegh en y V a lle y Sc P ittsb u rg .—Owns from Dun­
kirk, N. Y „ to Titusville, Pa., 91 miles. A consolidation of the Dunkirk
Warren & Pittsburg and Warren & Venango in 1872. Is leased to N .Y .
Central & Hudson River Co., but accounts are kept separate. There is.
an annual deficit in net earnings below the interest charge, but the N.Y.
Central & Hudson River Co. hold $2,920,000 of the_ securities. Gross
earnings. 1880-81, $291,208; net, $5,302. In 1881-82 gross earnings,
$335,237; net, $44,009. Capital stock, $1,300,000.

36

RAILROAD STOCKS AND

BONDS.

[V o l .

xxxvir.

Subscribers w ill confer a great favor by giving immediate notice o f any error discovered in these Tables.
Bonds—Princi­
INTEREST OR DIVIDENDS.
DESCRIPTION.
pal,When Due.
Miles Date Size, or
Amount
Stoclcs—Last
Where
Payable,
and
by
When
Par
Rate per
For explanation of column headings, &c., see notes of
of
Dividend.
Whom.
Cent. Payable
Road. Bonds Value. Outstanding
on first page of tables.
East Broad Top.—1st mortgage, registered.
East Pennsylvania—Stock..... . . . . . . . ............ .
1st m ortga ge....!.................................., ................
East Tennessee Virginia & Georgia—Common stock.
Preferred stock (6 per cent)......................
Consol, mort., gold (for $22,000,000).....................
-Consol, mort.,_*•Divisional” bonds .................
Income bonds, gold..................................................
Old 1st mortgage sinking fund bonds....................
East Tenn. & Georgia ($92,000 are endorsed)___
East Tennessee and Virginia (endorsed)................
2d mortgage to U. S. Government.........................
Alabama Central, 1st mortgage, gold, coupon....
Cinn. & Georgia RR., 1st mortgage.......................
Car trust bonds.......... , ..............................................
Eastern (Mass.)—Stock........ ......................................
Essex R R .lstm ort. (extended for 10 years)........
Mortgage funding certificates...............................- Eastern. (N. H.)-S to ck ........ - - - - ...................... .........
Eastern Shore (Md.)—1st mortgage . . . . . . . . . . . . . . . . . .
Eel Hirer—Stock— . ' .......... ....... .. — - .....................
1st mortgage— ............................................
Elizabeth. Lex. d Big Sandy—1st mertg., cp, or reg..
Elmira Jeff. & Canandaigua.—Stock.........................
Elmira <&Williamsport—Stock, common..................
Preferred stock .... L
. : .......... ................
1st mortgage bonds............................- .............. —
Income bonds, 999 years to ru n ............... ...........
Erie <&Pittsburg—Stock.......... ................... ................
2d mortgage, convertible.. . . . . — ........................

$1,000
$500,000
50
1,709,550
495,900
1858 100 &c.
100 27.500.000
100 16.500.000
1.000 14.592.000
1880
1,000
2,650,600
1,000 16,500,000
1881
3,123,000
1,000
242 1870
388,000
112 ’50-’56 1,000
1,000
147,000
130 1856
95,000
1872
1,000
1,000,000
95 1879
1,000
2,000,000
1883
1,060,000
100
4,997,600
283
194,400
1851 100 &e.
1876 500 &c. 13,425.274
492,500
100
16
450,000
38 1882 100 &c.
2,792.800
100
94'
Ç4.
140,000
3,500,000
1,000
110 1872
500,000
100
47
500,000
50
77
500,000
50
77
1,000,000
1,000
- 77 1860
570,000
500
1863
1,998,400
50
100
91,800
81*2 1865 100&C

30
36
36
1.123
1.123
1.123

1873

E ast B roa d T o p (P a .)—Owns from Mount Union. Pa., to Robertsdale Pa., 30 miles. A coal road, opened in 1874. The stock is $549,248.
In 1880-81 gross earnings were $127,940; net, $42,356 ; 1881-82,
gross. $139,260; net, $39,185.
E ast P e n n sy lv an ia .—Owns from Reading,Pa., to Allentown, Pa.,
36 miles. It is leased for 999 years from May 19,1869, to the Philadel­
phia & Reading RR., at a rental of 6 per cent per annum on the stock
and interest on the bonds. G. A. Nicolls, President, Reading.
E a st Tennessee V irg in ia & G eorgia.—(See Map.)—The East
Tennessee Virginia & Georgia Railroad is composed of the following
lines, whi6h were consolidated July 20, 1881,.under the above title:
The East Tennessee Virginia & Georgia Railroad, the Macon & Bruns­
w ick RR., the Cin. & Ga. RR., t i e Knox. & Ohio RR., and the Alabama
Cent RR., making a total of 1,123 miles, made up as follow s: Bristol to
Chattanooga, Tenn., 242 miles; Morristown to Paint Rock, Tenn., 45
miles; Knoxville; Tenn., to Kentucky State line, 66 miles; Cleveland.
Tenn,, via Dalton Rome & Selma, to Meridian, Miss., 380 miles; Ooltewah
to Red CJay, Tenn., 12 miles; Rome, Ga., via Atlanta and Macon, to
Brunswick, Ga. 378 miles.
'
,
1
,
The company owns l ,123 miles of railroad. It also operates under a
lease for twenty years from July 1,1879, the lines of the Memphis &
Charleston Railroad Company, from Chattanooga to Memphis, Tenn..
310 miles, and the Florence and Somerville branches, 20 miles, in all
330 miles, making a total of 1,453 miles of owned and leased lines now
in operation. On June 4,1883, the through line between Knoxville, Ky.,
and Louisville, Ky., was opened, and since that time daily through trams
have been running, thus making much the shortest route to all points
south and southeast of Knoxville. The new branches and extensions
having been opened so recently, it is difficult to say exactly on what mile­
age the earnings of 1882 were made; but most of the time it was on
9u0 miles of road, and now, as they are all completed and the line capa­
ble of being operated as a whole, instead of as heretofore in disjointed
divisions, ills predicted by the managers that in the oomingyear a much
better showing will be made.
,
„
.
.
The lease of the Memphis & Charleston RR. is an operating lease
simply, and creates no moneyed obligation against the East Tenn.
Va & Ga. RR., all net earnings being paid over to the lessor com
pany. There were various negotiations in progress about this lease,
but all complications have been settled by the acquisition of a majority
interest in the capital stock of the Memphis & Charleston Co. by parties
controlling the E T. Va. & Ga.
.
¡j
Of the first mortg. consol, bonds, there are held in trust by the Cent.
Trust Co. $7,408,000, to retire the same amount of the outstanding divis­
ional and sectional bonds.
The fiscal year ends June 30. The annual report for 1882-83 was
published in the Chronicle , V. 37, p. 397, and had the following:
, EARNINGS AND EXPENSES.
Total.
Freight.
Passenger.
Eeceipts from—
$965,478
$ ...............
......... $965,478
2,603,225
2,603,225
57.877
........
57,877
95,452
. .........
95,452
28,030
54,719
26,689
M isce lla n e o u s.......... . . . . . . .
Total receipts........ ........ $1,145,498
802,434
"Total expenses............. ........

$2,631 ;255
1,581,267

$3,776,754
2,383,701

$1,393 052
$1,049,987
Net earnings............ 1....... $343,064
The income account gave net earnings $1,393.052; interest and taxes,
$1,383,307; balance. $9,745. Construction expenses were $1,188,816
and receipts from sale of $2,000,000 Cin. & Ga. RR. bonds $1,200,000.
CONDENSED LEDGER BALANCE ON JUNE 30, 1883
Ecfuipm’t & cost of r’d .$82,500,000 Capital stock (coin.).. .$27,500,000
Do'.
(piel.).-- 16 5o0.000
Construct’n and equip­
ment a ccount......... - 1,199,917 Income bonds............... 16,50’ ».000
147,000
Profit and lo s s .............
183,517 147 6s, due May 1, ’86.
92. 00
Cash on hand & in bks.
89,967 «2 6s due July 1. ’86
217.000
Bills receivable............
2,6r<0 217 6s, due Jan. 1 , ’83.
79
6s,
due
July
1,
’83
.
79.0
U. S. P. O Department
24.313
1,000
Suspended accounts...
23,989 1 6s, due May 1, 1882.
1
6s,
due
July
1,
1880.
1,000
Two sleeping c a r s .......
11,442
95,000
Car-lifter, Lynchburg.
2,597 1 4s, due Jan. 1, 1887.
. Telegraph Co., stocic ...
1,750 3,123 7s, July 1, 1900. 3.123.0u0
Express Co. sto ck .......
5,000 2,650 5s, July 1, 1930. 2.650,000
South’n Car W’ks st’ck.
10,000 1,000 6s July 1,1918. I,0u0,000
Bonds, State of Tenn..
2.000 1st mortgage 5s, (only
$14,592,000 issued). 22.000 000
Bonds, Memphi s City..
1.000
Coal Cr’k & N. Riv.RR.
6.011 Car trust b o n d s .......... 1.000 000
115,000
Coal lands . . ...............
'32 549 Rogers Loco Tr. bond.
Mem. & Chari. RR. st’k.
195.375 Cin, & Georgia bonds . 2,000 000
28 500
Do - coup, acc’t 1,116.455 Bifis payable................
11,845
Car Trust-, series “ A” .. 1,475,215 Dividends unpaid.......
Rogers’ Loco. T rust. . .
115,000 Memph. & Char, cash
account......................
491 126
Bonds & st’ks unissued
767,431
582,335
Indiv’is, agents & Cos.
214,502 Inl’stdue July 1,1883
731,380
City lo ts ......................
870 State of Georgia..........




7
3
7

J. & J. Philadelp’a, Co.’s Office. July 1, 1903
J. & J. Phila., by I*. & R. RR. July 17,1883
Mar. 1, 1888
M. & S. Phila., P. & R. office.

5 g. J. & J, N. Y.,Metropolit’n N.Bk.
5
J. & J.
do
do
6
Oct.
do
do
7
J. & J.
do
do
6
J. & J.
do
do
6
M. & N.
do
do
l
J. & J.
do
do
6
J. & J.
do
do
6
J. & J.
r do
do

July 1, 1930
July 1, 1930
Aug. 1, 1931
July 1, 1900
1882 to 1886
May 1, 1886
Jan. 1, 1887
Julv 1. 1918
July, 1923

J. & j .
Boston.
M. & S.
do
M. & S. Bqston and London,
J. & D. Boston, by Treasurer.
Philadelphia.
Q .-M . Boston, by Treasurer.
F. & M.
New York.
M. &. S.
Baltimore, N. Cent. RR.
M. & "n . Phila., Penn. R. R. Co.
do
do
J. & J.
do
do
J. & J.
do
do
A. & O.
Q .-M . N. Y., Union Trust Co.
do
do
A. & O.

July 15. 1873
Sept. 15,1886
Sept., 1906
June 15,1883

3
6
6 g.
234
5
1
7
6
5
2^3
3*2
6
5
1%
7

Supply store, Selma,
Ala., stock on haud..
Cent. Trust Co., N. Y.,
5 per cent bds. held
to take up prior Uens

Sept. 5, 1883
Mar. 1,
(1)
Nov. 1,
July 1,
Jan. 1,
; Oct. 1,
Sept. 10,
Apl-il 1,

Pay-roll balances___
$1,692 Pay-rolls for June and
unpaid vou chers.,...
Samuel Thomas, Pres’t
7,408,000 Due indivs,ag’nts&cos.

1902
1883
1883
1910
2862
1883
1890

$23,231

$95,391,289 I
$95,391,289
—(V. 35. p. 50, 51,103, 298, 313, 430, 431.478, 486, 574, 577; V. 36, p.
427, 510, 560, 731; V. 37, p. 234, 321, 3 9 7 , 424.)
E astern (M a ss.)—Owns from Boston, Mass., to New Hampshire
State Line, 41 miles; branches—Salem to Marblehead, 4 mUes; Bever­
ley to Gloucester, 17 nules; Salisbury to Amesbury, 4 miles ; Revere
to East Boston, 3 ^ miles; Peabody to Wakefield, 8 miles; Salem
to Lawrence, 20 miles; others,- 22 nules; leased—Eastern RR. of N. H., 16miles; Newburyport City RR:, 3 miles; Portland Saco & Portsmouth, 51
miles; Portsmouth & Dover, 11 miles; Portsm. Gt. Falls & Conway, 71
miles; Wolfeboro Railroad, 12 miles; total operated, 283 miles..
In March, 1883, alease of this road to the Boston & Maine was ratified
for fifty-five years (subject to legislation in New Hampshire), under which
the B. & M., after paying all yearly obligations of both companies out o f
the joint earnings, will take $630,000 per year, and the next $i 40,000
is divided equally between the two companies, after which $366,OoO, if
earned, goes to the Eastern.? The B. & M. will also pay 6 per cent on
«5,000,009 new pref. stock if issued by the Eastern for retirement of
debt. Mortgage .notes are $684,300, secured by real estate. The last
annual report for the year ending Sept. 30, 1882, was published in V.
35, p. 705. Operations and earnings for three years past (ending Sept
3«.») Avere as follows:
Gross
Net
~
Passenger, Freight (ton)
Receipts.
Receipts.
Mileage.
Years.
Miles.
Mileage.
L879-30____ 282 $77,081,998 $61,707,305 $2,905,056 $1,084,927
3,094,273 1,124,600
63.099,873
1880-1.......... 282 83,411,100
3,403,077 1.110,109
68,479,129
L 8 8 1 -2...... 283 193,871,712
—(V. 35, p. 21, 5 7 7 , 602, 7 0 5 ; V. 36, tf. 311, 365, 510, 536, 675 ; V.
37, p. 234.)
E astern (N. HI.)—Owns from Portsmouth, N. H., to Seabrook
(Massacnusetts State Line), 16 miles. It was formerly leased for 99
years to the Eastern (Mass.) Railroad, and a new lease was made from
Oct. 1,1878, for 60 years and two months at $22,500 per year, equal to
413 per cent per annum. Moody Currier, President, Manchester, N. H.
E astern Shore (M d .)—Owned from Delmar to Crisfleld, Md., 38
miles. The road was sold in foreclosure Feb. 19,1879, subject to the first
mortgage, t e-organized, and in 1882 a new mortgage was issued at
5 per cent, and prior mortgage bonds exchanged. Stock, $13«,0 0 com ­
mon, an l $33-i,000 preferred Gross earnings in 1881, $68,61t>; net,
$13,78 '. In 1882 gross, $81,0)0; net, $22,229. S. M. Felton. Presi­
dent, Philadelphia. (V. 35, p. 160, 404.1
E e l R iv e r .—Owns from Logansport., Ind., to Butler, Ind., 94
miles This was formerly the Detroit Eel River & Illinois Railroad,
sold under foreclosure July 6, 1877, and reorganized under present
name Dec. 10,1877. In August, 1879, it was leased to the Wabash St.
Louis & Pacific Railroad for 99 years, at a rental of 3 per cent per
annum' on the stock for two years, 4 per cent for three years, and 48»
per cent thereafter.
E liz a b eth to w n L ex in gton & B ig Sandy.—Road owned, 1883:
Bio- 8audy River (O. & O. Junction) to Ashland, 8 miles; Straits Creek
.)uuction to Lexington, 1<)2 miles; leased—Ashland to Straits Creek
Junction. 22 miles; total operated, 132 miles. Charter permits exten­
sion to Elizabethtown. It is the connecting line of the Chesapeake &.
Ohio and controlled by the same parties. Authorized capital of the

were $455,893,’ net, $131,701; against *3 -5,401 gross and $191,096 net
in 1882. A. L Reid, President. New York C.ty. (V. 37, p 26o.)
E lm ir a Jefferson & C an a n d a ig u a.—Owns front Canandaigua.
N Y to WatKius, N. Y., 47 miles.
Tae road was foreclosed and
reorganized under present name Feb. 18, 1859. Itw as leased to New
York & Erie for 20 years from Jan. 1,1859, and the lease transferred
to N. Cen. RR. in 1866 at a rental of $25,000 per year. Lease termi­
nated Jan., i379, and road now operated at cost by Northern Central.
Gross eamlhgs in 1881, $354,186; net, $90,157; gross in 1882, $368:403; net, $ -5,000.
E lm ir a & W illia m s p o r t.—Owns from Williamsport, Pa., to
Elmira N Y
7. miles. This company was reorganized under the
oresent name Feb. 29, 1860, and leased to the Northern Central Rail­
way for 999 years from May 1,1863, at a rental of $151,500 per annum,
since Jan 1 1880. The dividends on the common stock are 5 per cent
and on the preferred 7 per cent. Operations are included in the North­
ern Central returns.
Erie & P ittsb u rg .—Owns from New Castle, Pa., to Girard. Pa.,
82 miles- brauen, Dock Junction to Erie Docks, 3 miles; leased —
Girard to Erie, 15 miles; total operated, 10 » miles. Road opened in 1865-•
It was leased to the Pennsylvania RR. for 999 years from March 1,
1870 at a rental of 7 per ceut on stock and interest on the bonds,
and the lease was transferred to the Pennsylvania Co. The lease has
been quite unprofitable to the lessees; the deficiency paid by them in
1880 was $242,819, in 1881, $233,522, and in 1882, $207,60I.

BONDS
KAILKOAD STOCKS AND
October , 1883. j




38

RAILED AD

STOCKS AKD BONDS.

[V ol. X X X V IÏ.

W
Subscribers w ill confer a great favor by giv in g im m ediate notice o f a n y error discovered in these Tables.
Bonds—Princi­
DESCRIPTION.
INTEREST OR DIVIDENDS.
Miles Date Size, or
When Due.
Amount Rate per When Where Payable, and by pal,
F or explanation of column headings, &e., see notes of
Par
of
Stocks—Last
Outstanding
on first page of tables.
Road. Bonds Value.
Dividend.
Cent. Payable
Whom.
Erie & Pittsburg—(Continued)—
Consolidated mortgage free of State ta x .. ............
Equipment bonds........................................... .........
Muropmn No. American—Stock, guar. 5 per ct___
1st mort., Bangor to Winn., Bangor loan............
Mvansville & T. Haute—Stock ($100,000 is pref. 7 ).
1st mortgage, Evansv. & 111., sink. fund...............
1st mortgage., sink, fund, (Evansv, to T .H .)..........
Consol, mort., gold (for $3,500,000)...................... .
1st mort., Mt. Vernon Branch, gold .......................
Mvansville Terre Haute <£ Chic.—1st mort., gold___
2d mortgage, gold......................................................
Fitchburg—Stock..................: ......... ........ ............. ..
Bonds, coupons, ($4,950.000 authorized).............
Flint <t> Pere Marquette—Preferred stock..................
Reorganization mortgage bonds, g o ld ....................
Flint & Holly RR. (sink’g fund $25,000 per year).
Bay County, issued |n aid, guar, by lessees__ 3___
Holly Wayne <fc Monroe, 1st mort., sinking fund.
Marida Central <&Western—1st mort.. gold.............
Monda Johnstown <6 Oloversville—1st m ortgage.......
Consol, mortgage.......................................... " ..........
Sort Madison <6 Northwestern—1st mort., gold........
Sort Wayne <£Jackson—Pref. stock, (8 per cent)___
•Common stock........ ...................................................
Sort Wayne Cincinnati <& Louisville—Stock.............
Sort Worth <£ Denv. City—1st M.,gold ($25,000 p.m.)
Frederick & Pennsylvania Line—1st mortgage........

81>a 1868
Ï14
56
146
51
109
144
25
55
55
190
347
290
17
"65
234
10
26
100
97
97
128
28

___

1869
1852
1854
1876
1883
1869
1872
’74-’81

....

1880
1868

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

1871
1832
1870
1880
1880

1,000
500 &e.
500
1,000
1,000
1O0 &c.
100 &c.
500 &c.

1881
1870

1,000
1,000

$2,485,000
7
685,000
7
2,500,000
2*2
1,000,000
6
3,000,000
6
281,000
7
611,000
7
2,078,000
6 g.
375,000
6 g775,000
6 g325,000
6 g.
4,950,000
3
3,000,000 5, 6 & 7
6,500,000
3^2
3,650,000
6 g.
300,000
10
75,000
10
1,000,000
8
2,808,000
5 g300,000
7
200,000
6
150,000
7 g.
2,287,832
2%
431,747
4,000,000
2,750,000
6 g.
500,000
6

J.
A.
A.
J.

&
&
&
&

J. N. Y., Union Trust Co.
O.
do
do
O.
Bangor.
J. Bost., Merch. Nat. Bk.
Company’s Office.
J. & J. N.Y.jFarm. L’an& T.Co.
M. & N.
do
do
do
do
J. & J.
A. & 0.
do
do
M. & N. N.Y.jFarm.L’an & T.Co.
J. & J.
do
do
J. & D.
Boston, Office.
A. & O.
do
J. & J. N. Y., Mer. Ex. Nat. Bk.
A. & O.
do
do
M. & N. N. Y., Meehan. Nat. B’k.
M. & 8.
New York.
J. & J. N.Y.. Merch. Nat. Bank.
J. & J. N. York or Amsterdam.
J. & J. N. Y., St. Nick. Nat. B’k.
A. & O.
do
do
A. & 0. New York or London.

July 1, 1898
Oct. 1, 1900
Oct. 2, 1883
Jan. 1, 1894
Jan. 1, 1883
Jan. 1, 1887
Nov. 1, 1887
July 1, 1921
April 1, 1923
Nov. 1, 1899
Jan. 1, 1902
July I, 1883
1894 to 1902
July 16,1883
Oct. 1, 1920
Mav 1, 1888
Sept. 1, 1887
Jan. 1, 1901
April 1, 1922
July 1, 1900
May 1, 1920
April 1, 1905
Sept., 1883-

J. & D. N. Y., Mercantile Tr. Co. Dec. 1, 1921
A. & 0. Pennsylvania RR. Co.
1900

E u ropean A N orth A m erica n . — Owns from Bangor, Me.,
INCOME ACCOUNT.
to Yanceboro (State Line), Me., 114 miles. Road was worked in
Receipts—
1881.
1882.
connection with the St. John & Maine, making an unbroken line from Net earnings.....................».....................
$570,091
$763,852
Bangor, Me., to St. John, N. B., 205 miles. In 1875 default was made,
Disbursements—
and a new company was organized October, 1880, which issued new Interest on debt: .....................................
$322,118
309,024
stock ($2,500,000) for the land grant mortgage. The company had Dividends
...........................................
357,500
422,500
a land grant of 750,000 acres in the State of Maine. On Aug. 31,1882, Loss on cargo “ St. Albans” , r ...................
3,935
a lease was made to the Maine Central for 99 years to date from April 1,
1882, for $125,000 per annum, equal to 5 per cent per annum on the
Total disbursements ............. ............
$683,553
$731,524
stock, and assuming the bonded debt. Earnings in 1881-82, $546,022; Balance, deficit...... ....................................def.$113,462
sur. $16,490
nets, 221,694. (V. 35, p. 160, 211.)
GENERAL BALANCE AT CLOSE OF EACH FISCAL YEAR.
E v a n sv ille & T erre H a u te .—Owns from Evansville, Ind., to
1880.
1881.
1882.
Terre Haute, Ind., 109 miles; Owensville branch and extension, 37
Assets—
$
$
$
miles; total operated, 146 miles. The Rockville Extension, 23 miles Railroad,
buildings,
equipment,
&c.
9,671,959
11,361,845
11,754,789
additional, is leased to the Terre Haute & Logansport for 99 years from Steamers owned .............................
130,300
Nov. 1, 1879. Formerly the Evansville & Crawfordsville RR. Co. Stocks
and bonds owned, cost......
2,000
526,641
558,000
Gross earnings year ending Aug. 31: 1880-81, $688,? 5 8 ; net, $202,170; Accounts
70,418
02,354
131,603
1381-82, $826,427; net, $374,781 (V. 35, p. 4 8 4 ; Y. 36, p. 731; V. Materials,receivable......................
fuel,
&
c,..........................
179,440
217,777
229,382
37, p* 175.)
Cash on hand............................. .
47,204
115,027
E v a n sv ille Terre H a u te & C h icago.—Owns from Terre Haute In trustee’s hands...........................
22,791
21,291
19,291
Junction, Ind., to Danville, 111., 49 miles; leased, 6 miles: total Assistant Treasurer’s account.......
131,147
operated, 55 miles. It uses 6 miles of the track of the Rockville Exten­ Income account...............................
233,438
sion into Terre Haute; also leases the Indiana Block Coal road, 15 Miscellaneous items........................
28,209
14,741
Hailes. On April, 30,1880, a lease to the Chicago & Eastern Illinois
was made for 999 years; terms, $75,000 per annum and the assumption
10,311,193 12,281,853 12,966,601
by the C. & E. I. of all rentals and taxes paid by E. T. H. & C. The
$ j
Liabilities—
$
$
bonded interest was reduced to 6 per cent a n l preferred stock for $100,- Stock.......... ............................
6,304,800
6,301,800
6,500,000
6,500,000
®00 issued for overdue coupons ;•common stock, $600,000. Josephus Funded debt..................................... 3,726,658
4,821,560 5,023,000
Collett, President, Ten*e Haute, Ind.
All other dues and accounts..........
65,815
117,420
• 105,818
F i t c h b u r g . —Owns from Boston, Mass., to Fitchburg, Mass, (double Premium on b on d s........... ..............
107,757
142,460
track),, 50 mnes; branches—Charlestown, 1 mile; North Cambridge Land receipts applied to reduction
of bond s.......................................
339,000
743,000
to Waltham, 7 miles; South Acton to Marlborough, 12 miles;
Peterborough & Shirley, Ayer, Mass., to Greenville, 24 miles; leased Unpaiddiv’ds, vouch’rs & pay-rolls
162,315
338,595
451,712
19,123
35,614
and operated—Vermont & Mass. RR., Fitchburg to Greenfield, 56 Income account................... ..........
mile»; Turners Falls Branch, 3 miles; Troy & Greenfield RR., Green­
10,311,193 12,281,853 12,966,601
field to North Adams, 37 miles; total, 190 miles. The Troy & Greenfield
RR. and the Hoosac Tunnel, owned by the State of Massachusetts, have
,478.) ,
been operated by this company, and are now contracted to it for seven
F lo rid a Central & W e ste rn ,—Jacksonville to Chattahoochee ’
years from Sept. 30,1880. The annual report for 1881-82 in Chron ­
icle , V. 36, p. 55, said: “ In 1881 the great trunk-line war of rates 208 miles, and branches from Tallahassee to St. Marks, 21 miles; and
began; and freight—and for a part of the year passengers—were carried from Drifton to Monticello, 4 m.; total, 234 miles. This was a consoli­
to both directions at less than cost. There was a large business; and our dation in January, 1832, of the Florida Central, the Jacksonville Pen­
tannage and gross freight receipts and mileage all increased, while our sacola & Mobile, &c. Of the above bonds $1,000,000 are a pref. lien
» e t results correspondingly decreased, This ruinous competition, and ‘ series A,” the balance of the issue being known as “ series B.” The
the fulfillment of contracts made by Western railroads, compelled us to capital stock is $3,000,000; par $100. In 1882 earnings for 11 months
transport freight during the greater part of the present year at even were $367,022; net, $106,646. B. S. Henning, President, New York
City. (V. 34, p. 60, 315.)
toss K>tes than in 1881.”
Operations and earnings for five years past (ending Sept. 30) were as
F o n d a J o h n sto w n & G lov ersv ille.—Owns from Fonda to
f&llows:
. . .
Northville, 26 miles. Road opened Dec. 1,1870. The stock is $300,000.
Passenger Freight (ton)
Gross
Net
Diy.
In 1881-82 8 per cent dividend was paid. Net income, after deduct­
Years.
Miles. Mileage.
Mileage.
Earnings. Revenue. p.ct. ing interest and rentals, in 1880-81, 38,230; in 1881-82, $26,157. W.
1877-8......... 152 32,266,503 68,041,193
$1,937,934 $347,620
6 J. Heacock, President, Gloversville, N. Y.
! 1878-9......... 152 35,094,145 92,832,640
2,079,973
379,202
6
F o rt M adison & N orth w estern .—Owns from Fort Madison,
1879^-80.... 190 39,752,302109,323,290 2,3 75,096 498,849
8
188081 . . . . 190
42,854,047 114,507,9162,561,595289 5817la., to Birmingham, la., about 45 miles. Projected line, Fort Madison
1881- 2 ..........190 47,628,311 112,948,822
2,452,729
366,271
6 to Oscaloosa, la., 100 miles. Stock, $425,600. Earnings in 1881-82,
—(V. 36, p. 55, 139.)
$47,462; net, $20,727. E irn in g sin 1882-8 ?, $56,316; net, $23,826.
F lin t A Pere M arqu ette.—Owns from Monroe, Mich., to Luding- J. C. Atlee, President, Fort Madison, la. (V. 34, p. 604.)
ton, Mich., 253 miles; branches—Bay City to East Saginaw, 12
F o rt W a y n e & J a c k so n .—Owns from Jackson, Mich., to Fort
utiles; Flint Junction to Otter Lake, 20 miles; South Saginaw branch Wayne, Ind, 97 miles. This road is successor to the Fort Wayne
5 miles; Harrison branch, 15 miles; Manistee branch, 27 miles; Jackson & Saginaw, which made default on its bonds and was sold in
Saginaw & Mount Pleasant Railroad, 15 miles; total operated, foreclosure Dec. 3,1879. On Sept. 1,1882, leased perpetually to L. Shore
3617 miles. A Receiver took the old company in June, 1879 • the & Mich. South, at a rental of $126,027, equal to 5 ^ per cent on the pref.
road was sold August 18,1880, under the consolidated mortgage, and stock, and after 1887 any net earnings over 8 per cent on pref. stock to
reorganization was made andpreferred stock ($6,500,000) issued for the be paid as dividend on common stock, but not exceeding 2 percent a
consolidated mortgage bonds, and common stock ($3,500,000) is to be year. Gross earnings in 1881, $295,502; net, $117,602. (V. 35, p. 131,
issued for the old stock. The common stock has no present right to vote 298.)
up; to receive dividends, and will be issued only after the preferred
F o rt W a y n e C in cin n ati A L o u isv ille .—From Fort Wayne,
stockholders have received 7 per cent yearly dividends for five con­
secutive years. The preferred stock is not cumulative, and after 7 per Ind., to Connorsville,'Ind., 104 miles; branch to Rushville, Ind., 24
miles;
total operated, 128 miles. The Fort Wayne Muncie & Cincin­
«efat per annum is paid on bath classes of stock, the balance of .income,
nati Co. defaulted and a receiver was appointed Nov., 1874. The road
if any,, is to Be divided ratably.
was
sold
in foreclosure, July 27, 1881, to Elijah Smith, for the bond
On Jan. 1,1883, the land notes on hand for lands sold were $747,532,
and: lands yet unsold 109,815 acres. Annual report for 1882, in V. 36, holders, for $1,000,000. The bondholders reorganized under this name.
Gross
earnings
in 1882, $274,320. Elijah Smith, President, Boston,
p . 478, said: “ The prospects for the current year are very en­
couraging. for traffic. The gross earnings of the first three months of Mass. (V. 35, p. 131.)
1883 were $586,736, against $525,146 for the same period of 1882—a
F o rt W o r t h & D enver City.—Road in progress from Fort
gain Qf $61,590. From the severity of the winter the expenses were Worth, Texas, northwest to the Canadian River; and in operation to
largely in excess of those of the same period of 1882. Earnings for four Wichita Falls, 110 miles. It is built by Texas & Colorado Improve­
years past were as follow s:
ment Co., G. M. Dodge, President, a corporation identified with the
1879.
1880.
188Í.
. 1882.
Gould interests. Stock $20,000 per mile; par value of shares, $100.
ißarwmgs—
$
$
$
$
Gross earnings, May to Octobee, 1832, inclusive, $129,123; net, $79,839.
452,007
565,288
655,478
795,839 Thos. W. Pearsall, President, N. Y. City. (V. 35, p. 23, 131, 313, 431,
Passenger..................
Freight............. .
653,636
994,369
1,157,367 1,317,042 457, 486, 602; V. 36, p. 80.)
Mail, express, &c
45,558
39,967
72,568
67,342
F red erick A P e n n sy lv an ia L in e .—Owns from Kingsdale to
Tbtal gross earnings 1,151,201 1,599,624
1,885,413 2,130,223 Frederick City, Md., 28 miles. It is leased to Pennsylvania RR., which
©p’g expen’s & taxes
745,912
1,145,929 1,315,322 1,432,209 pays interest on first mortgage. Preferred stock held by Pennsylvania
RR., $460,000; common Stock, $312,528; floating debt, (coupons),
Met earnings............
- 405,289
453,695
570,091
748,014 $160,000, John Loats, President, Frederick City, Md.




*

October , 1838.}

KAILROAD STOCKS AND

39

BONDS.

Subscribers w i ll confer a great favor by g iv in g Im m ediate notice o f a n y error discovered in tbese Tables.
Bonds—Princi­
INTEREST OR DIVIDENDS.
DESCRIPTION.
pal,When Du©,
Miles Date Size, or
Amount Rate per When Where Payable, and by Stocks—L a ^
Par Outstanding
For explanation of column headings, &c., see notes of U of
Dividend.
Road. Bonds Value.
Whom.
Cent. Payable
on first page of tables.

Fremont Elkhorn dt Mo. Valley—1st mortgage........
1st mortgage..............................................................
Income bonds............................................................
1st m ortgage..............................................................
1st mortgage (new)...................................................
Galveston Harrisb.<£ S.Antonio—1st mort, gold, 1. gr.
2d mortgage.......................... ....................................
Mexican & Pacific Extension, 1st mortgage, gold
do
do
2d mortgage..........
Galveston Houston <6Hend. 0/1882—1st mort.,guar
Geneva Ithaca <&Sayre—1st mort., s. f., gold...........
Georgia Pacific—1st mort., $10,000 per mile..........
Georgia Railroad <6Banking Co.—Stock..................
Bonds, not mortgage.................................................
Bonds, not mortgage ..............................................
Macon & Augusta, 1st mortgage............... ............
1st mort., land grant, gold (guar, by Pa. RR ).......
1st mort., gold, ($1,895,000 are hand grant)..........
Income mortgage bonds, for $10,000,000.............
Green Bay. Winona <£■St. Paul—1st mort. coup.......
2d mort. income bonds, reg.. non-cumulative.......
Gulf Colorado <£ Santa Fe—1st M., g. ($12,000 p.m.)
2d mortgage ($13,000 per mile)..............................
Hannibal & St. Joseph—Common s to ck ....................
Preferred stock (7 p. c. yearly, not cumulative).
Bonds 1870, convertible................................... . —
Land grant bonds, secured by land notes.............
" Consolidated mort. (for $8,000,000).......................

51 1871 $500&c.
39 1879
1,000
51 1876
106 1880
1,000
107 1881
1,000
256 ’71-’ 80 1,000
226 1880
1,000
675 1881
1,000
675 1881
1,000
50 1832
1,000
35 1870 100 &c.
197 1882
....
307
Ï00
500
77&80 1.000
77 1867
1,000
332
100
332 1869
1,000
332 1869
1,000
332 1875
1,000
219 1881
1,000
219 1881
1,000
570 1879
1,000
1883
1,000'
292
100
292
100
292 1870
1878
1.000
292 1881
1,000

$690,000
270,000
317,082
2,152,000
1,199,000
4,800,000
1,000,000
13,500,000
6,750.000
2,000,000
600,000
3,480,000
4,200,000
237,500
2.100,000
296,000
4,985,081
4,000,000
2,903,000
1,097,000
1,600,000
3,781,000
6,840,000
(?)
9,168,700
5,083,024
4,000,000
90,000
3,000,000

7
7
7
7
rr
6 g.
7
5 g*
6
5
7 g.
6
2^
7
6
7

A. & O.
A. & O.
A. & O.
A. & O,
A. & O.
F. & A.
J. & D.
M. & N.
J. & J.
A. & O.
J. & J.
J. & J.
Q .-J .
T. & J.
J. & J.
J. & J.

N. Y., Nat. Park Bank.
do
do
do
do
Boston, Everett Nat.Bk.
do
do
N. Y ., D. ,M. &Co. ,&Lond.
N. Y., Drexel, M. & Co.
New York.
do
New York.
N. Y., Metrop. Nat. B’k.
N. Y., Central Trust Co.
Augusta,Ga., RR. Bank.
do
do
do
do
do
do

1901
1899
1886
1900 .
1899
Feb. 1, 191«
June 1, 1905
May 1, 1931
July 1, 1931
April 1, 1913
July 1, 1890
Jan. 1, 193*
July 1 5 ,18SS
Yearly to 1890
1897 & 1910
1887

1899
7 g. J. & J. N. Y., Third Nat. Bank.
1899
7 g. A. & O. N. Y., Winslow, L. & Co.
1906
do
do
M. & S.
7
F. & A. N. Y., Nat. City Bank. Feb. 1, 1911
6
May 1, 1911
do
do
M. & N.
8
7 g. J. & J. N.Y.Nat.City Bk.&Galv. July 1, 1900
New York.
Oct. 1, 19523
A. & O.
6
3
8
7
6

F.
M.
J.
M.

& A.
& 8.
& J.
& S.

N. Y., Company’s Office Feb. 15,1883
N. Y., B’k. No. America. Mar., 1885
N. Y., Farm. L. & T. Co. Jan. 1, 1883
N. Y., B’k. No. America. Mar. 1,1911

II
F r e m o n t E l k h o r n & M is s o u r i V a lle y .—Fremont to Thackler,
Neb., and Norfolk Junction to Creighton, iNeb., 305 miles. Leased to
Sioux City & Pacific RR. The rental is 33*3 per cent of gross earnings.
Stock, $1,924,500. See report and balance sheet in V. 36, p. 320;
balance of income over interest, &c., $7,240. Receipts and expenses
for the year ending Dec. 31,1882, were as follow s:
Receipts—
Rental of road ........................... .................. * .......................... $94,776
Connecting roads.......... ............... ....................^..........................
8 1,708
3,664
Interest and profit and loss account............................................
Donations on account of extensions..............................................- 17,000
Town lot sales.................. r................*..............................................
2,800

by outsiders. Stock of the new company is $1,000,000. W. H. Hardin«,
President, Galveston, Texas. (V. 35, p. 160, 211, 637, 762; V, 36, p. 30;
674, 675.)
G eneva Ith a c a & Sayre.—Owns from Geneva, N. Y., to Sayre;
Pa., 75 miles; branch, Ithaca, N. Y., to Cayuga, N. Y., 38 miles; total
operated, 113 miles. Organized Oct. 2,1876, as successor of the Geneva
Ithaca & Athens RR. (sold in foreclosure Sept. 2, 1876), which had
been formed by consolidation of the Geneva & Ithaca and Ithaca &
Athens railroads, May 25,1874. In 1880 absorbed the Cayuga & South.
RR., 37 miles. The common stock is $1,275,000; preferred, $400,000.
Gross earnings year ending Sept. 30,1881, $462,920; expenses, $452,725; net,,$10.195. In 1881-82, gross, $505,468; expenses, $532,423;
deficit, $26,955; interest payments, $59,697; total deficit, $36,652.
Total receipts............................................... - ..........................$199,949 R. A. Packer is President, Sayre, Pa.
' Expenses— :
G eorgia F aeiflc.—Atlanta, Ga., to Texarkana, Tex.. 600 miles pro­
Salaries and general expenses............................... - ....... $1,043
Interest on bon d s..................................................... .— 191,665—192,708 jected, of which 278 miles completed to Nov.. 1883, including the Green­
ville (N. G.), 52 miles, purchased. Built by Richmond & Danville. Exten­
Balance to income account........................................ .............
$7,240 sion Co., which has $5,000,000 subscribed capital. See report at length,
in V. 36, p. 195. (Y. 35, p. 71,189, 291, 297, 405, 603, 763; Y. 36, p.
—(V. 35, p. 235; V. 36, p. 2 2 0 , 623.)
195; V. 37, p. 151, 342.)
G a lv e s t o n H a r r is b u r g & San A n t o n i o . —Owns from Hous­
G eorgia R a ilro a d & R a n k in g Co.—Augusta, Ga., to Atlanta
ton, Texas, to San Antonio, Texas, 217 miles; Lagrange Extension, 3 1
miles; Harrisburg to Pierce Junction, 8 miles; leased, Harwood to Ga., 171 miles; branches to Washington and Athens, 60 m iles; Warren"
ton,
Ga.,to Macon, Ga., 76 miles; total operated, 307 miles. The West­
Gonzales, 13 miles; total, 269 miles. Western Extension, San Antonio
to Rio Grande River, connecting with Southern Pacific, 636 miles; Eagle ern RR. of Alabama, purchased in May, 1875, at foreclosure, is owned
jointly
with the Central RR. of Georgia. The Macon & Augusta RR.,
Pass Branch, 35 miles; total Western Extension, 661 miles. Grand total,
939 miles. The extensions to the Rio Grande at Eagle Pass and to El 76 miles, is owned by this company. The Port Royal & Augusta RR.
is
owned
one-fifth part by this company; the Atlanta & West Point
Paso were completed late in 1882.
"
This company was successor to the Buffalo Bayou Brazos & Col. Rail­ thirty-five one hundredths by this company.
In
April,
1881, a lease for 99 years was made to W. M. Wadley and
way in 1870. The capital stock outstanding on the whole road is
$27,053,600. The 1st mort. covers 256 miles of old road and 1,800,000 associates (for the Central of Georgia and the Louisville & Nashvifia
acres of land. The proceeds of land sales are used to retire the bonds, railroads) at $600,000 per year, p; yable semi-annually, and dividends
and also a sinking fund of 1 per cent, but it is optional with bond­ are 24a per cent quarterly, in 1882-83 net income from all sources,
holders to surrender their bonds, if drawn. In June, 1881, a large including bank, was $612,814, leavingbalance of $28,181 over all pay­
interest in the stock was bought by Southern Pacific parties. The ments, including dividends. (V. 35, p. 430; V. 36, p. 453, 559.)
G rand R a p id s & In d ia n a .—Owns from Fort Wavne lna., to Bay
mortgages ©n the Mexican Pacific extension cover 636 miles of road,
from San Antonio to El Paso, and the Eagle Pass branch, 35 miles— View, Mich., 332 miles; branches to Carey’s, Mich., 15 miles, and Mit­
671 in all. T. W. Pierce, President, Boston. The land grant is sixteen chell, Mich., 8 miles; total owned, 355 milles ; leased and operated: Cm.
Richmond & Fort Wayne RR.. 86 miles; Traverse City Railroad, 26
sections (10,240 acres) per mile.
miles; Bay View Little Traverse & Mackinaw Railroad, 6 miles; Grand
The annual report, in Chronicle, V. 37, p. 200, had the following:
Rapids & Mack., 34 miles; total, 508 miles.
STATEMENT OP EARNINGS, &C., BT DIVISIONS, FOR THE YEAR 1882.
The Grand Rapids & Indiana Railroad is operated in the interest
Houston Div.
San Ant. Div of the Pennsylvania Railroad Co., and $4,000,000 of the first mortgage
Average miles....... .......................................
260*00
156-8(j bonds are guaranteed by that company, which buys the coupons each
if any remain unpaid by the earnings, and on January 1, 1883,
Total earnings.................................................$1,628,026
$354,825 year
unpaid coupons were h ell by Pennsylvania RR. and Penn­
Total operating expenses......................... 1,024,986
234,196 $1,862,170
sylvania Company. First mortgage bonds redeemed by the sinking
fund
are
replaced
by income bonds issued. In April, 1883. payment1of
Net earnings.........
$603,039
$120,628 coupons was suspended
in consequence of the Pennsylvania Railroad
•Expenses to earnings.................................. 62*98 p. c.
66 p. c suit, and coupons were purchased by Penn. RR. Co. (See V . 36, p. 340,
.Average per passenger.......... . .............. ..
3*06 cts.
3*04 cts. 399, and advertisement on page 3 of Chronicle. June 36, 1883. The
Average per t o n .................................. ........
2 83 cts.
1*99 cts. company had land grants amounting to 852,960 acres, and sold in 1882
51,609 acres, for $429,422, an average of $8 32 per acre. The lands
INCOME ACCOUNT YEAR 1882.
on Jan. 1,1883, were 478,747 acres. The assets were $1,625,988
Houston Div. Mex.&P. Ext. unsold
cash
in hands of trustees; $687,495 bills receivable, and cash with
Balance from 1881............
$647,028
$27,»53 cashier,
$15,859. Operations and earnings for four years past on main
Net earnings, 1 8 8 2 .........
603,039
417,387
Other receipts............
100,003
.....line were as follow s: Passenger Freight (ton)
Gross
Net;
Miles.
Mileage.
Mileage.
Earnings. Earnings.
Total receipts..................................... p $1,350,071
$445,340 Years.
51.267,197 $1,345,134 $432,645
1879 ........... 332 17,823,880
Interest on bonds....................................
$335,233
$347*280 1880 ........... 332 21,309,396
69,801,159
1,692,754 476,745
Interest on d e b t..........................................
86,987
............ 1S81.............. 332 24,661,483
79,316,473
1,940,570 562,898
Interest on State school fund................ :..
19,055
............ 1882.............. 332 28,382,854 . 93,283,242
2,260,291 582,0(54
Other expenses...........................................
34,513
2,151 -(V . 34, p. 315, 6 0 2 , 663; V. 35, p. 23, 51, 347; V. 36, p. 340, 399
Balance, surplus___.“..........................
924,281
95,909 5 5 8 , 707.)
R ay W in o n a & St. P a u l.—Owns from Green Bay. Wi?.,
Total disbursements.. ........ ............... $1,350,071
$445,340 toGreen
Marshland, Wis., 209 miles; branches, 10 miles; leased—Plover
' “ The El Paso Division was leased during the past year, and the net to
Steven’s
6 miles; total, 225 miles. This was a reorganization in
income from the same was $296,759. The average mileage on the ex­ 1881 of thePt.,
Green Bay & Minnesota, which company made default aud
tension west from San Antonio was 156*80 miles. The facilities and the road was
sold
March 12, 1881. See plan of reorganization in
track were devoted chiefly to construction uses, no effort; being made to Chronicle, V. 31, p.453.
stock is $2,000,000, and entitled
secure commercial business. From •aud after the opening of the whole to 7 per cent when earned, Preferred
common stock $8.000,000, both, stocks
line, Feb. 1,1883, the leases were canceled, and the road throughout in $100 shares. In 1881 net and
were $70,774; in 1882, gross earn­
operated independently. Net revenue, old line, $703,013: San Antonio ings $400,676; net, $93,327;earnings
rentals, $19,713. Samuel Sloan, President,
Division, $120.638; El Paso Division, $296,759. Total, $1,120,440.
Interest requirements on securities outstanding at close of year, New York. (V. 37, p. 2 0 1 .)
G u lf Colorado & Santa F e .—Mileage was as follows August 1,
$902,335.” During the year 1882 there were expen "led on construction
and improvement of old road, $323,959; for equipment, $160.232; oh 1883: Galveston to Lampasas, 274 miles; Fort Worth Division, Tentreal estate, $33,431. Total, $517,623. (V. 35. p. 78,103, 213,266, pie to Fort Worth, 128; Northeastern Division, Cleburne to Dallas, 5 4 ;
Eastern Division, Somerville to Montgomery. 56 miles; Houston Divt347, 405. 431, 456, 578; V. 36, p. 11*0; V. 37, p. 2 0 0 )
Alvin to Houston, 24 miles; total 536 miles. Road opened late in
G alveston H o u s to n & H en d erson o f 1 8 8 2 .—Owns from Gal­ sion.
1878 (63 miles), and sold and reorganized April 15, 18J9. Formally
veston, Texas, to Houston, Texas, 50 miles. The road was opened in opened
under new regime August, 1880, and has been rapidly extended.
1853-4 and sold in foreclosure Dec. 1,1871, and reorganized as the G.
report in V. 37, p. 398. Stock July 31,1883, $4,560,000. In July,
H. & H. of 1871. In July, 1880, the company defaulted on its interest See
1883,
the
mortgage was authorized. Gross earnings in 1881-82, on
and the road was sold in foreclosure Aug. 1, 1882, for $460,000, and 36 Lmiles, 2d
$1,251,073; net $440,117; gross in 1882-83, on an average
purchased in the interest of Jay Gould and Russell Sage. The bond­ of
493
miles,
$2,068,958; net, $779,066. George Sealy, President. Gal­
holders, by agreement with the purchasers, received new 5 per cent
bonds for their old bonds, and the road is leased for 99 years, to the veston. Tex. (V. 35, p. 339, 317, 4 2 9 , 763; V. 36, p. 561, 675; V. 37, p.
1
2
7
,3
9
8
.)
.
International & Great Northern Railroad Company and bonds guaran­
H a n n ib a l & St. J o se p h .—Owns from Hannibal, Mo., to St. Jo­
teed by that company. The old capital stock was $1,000,000, and no
representation was allowed in the reorganization to the old stock held seph, Mo., 206 miles; branches—Cameron to Kansas City, 53 miles; S t




40

ßAILEOAD

STOCKS AND

BONOS.

[V ol . X X X V II.

Subscribers w i ll confer a great fa v or by g iv in g im m ed ia te n otice o f a n y error discovered in tbese T a b les.
Bonds—Princi­
DESCRIPTION.’
INTEREST OR DIVIDENDS.
Miles Date Size, or
When Due.
Amount Rate per When Where Payable, and by pal.
Par
of
For explanation of column headings, &c., see notes of
htochs—Last
Road. Bonds Value. Outstanding Cent. Payable
on first page o f tables.
Dividend.
Whom.
Hannibal <6 St. Joseph—( Continued) —
Bonds Quincy & Palmyra R R ................................
Bonds Kansas City & Cam, R R ..................... .........
Harrisb. Portsm’ th Ml. Joy & Lane.—S t o c k .............
1st mor., registered (extended 30 years in 1883).
Harrisburg & Potomac—1st mortgage, coupon........
- 1st mortgage . . ........ ........................... .............. .
Preferred stock................................................ .
1st moi-tgage. eoupon..................................... .
2d mort. bonds of 1869............................................
Consolidated m o rt..re g .........................................
HousL ¿ttast if- West Texas.—1st mortgage, gold -----2d mort., land grant ($5,000 per m ile)..................
Houston <6 Texas Cent.—1st M., (main) gold, l.gr.,s.f.
" 1st mort., 1. gr., West div. (Hempstead to Austin)
1st M., gold.Waco &N’ west (Bremond to R o s s )---Consol, tnort., land grant, Main and Western Div.
Consol, mort., land grant, Waco & Northwest......
Gen mort., gold (for $18,500,000).........................
Huntingdon & Broad Top—1st mort., gold...............
, 2d mortgage, gold...................... , .............................
Sd mortgage consolidated.......................................
Scrip for interest 1st and 2d mortgages................
! Leased line 4 per cent stock, guar..........................
Mortgage bonds, sterling.......................... ..............
Sterling bonds, (sinking fund £20,000 yearly) —
Mortgage, sterling............................ ........ . . . . . . . . . .

15
53
54
54
28
110
127
127
74
....
___
142
142
345
119
58
464
58
522
58
58
58
1,909
706
706
706

....
1867
....
1853
1874
1882
1865
1869
1880
1878
1883
1866
1870
1873
1872
1875
1881
1854
1857
1865
....
....
1875
1874
1875

$ ....
....
50
500 &c.
100 &c.
'Ï0 0
100
500 «fee.
500 &e.
500 &c.
1,000
1,000
1,000
1,000
1,000
1,000
1,000
1,000
500
500
1,000
Too
100
£200
£200
£200

$433,000
1,200,000
1,182,550
700,000
507,200
2.700.000
140.000
820.000
1.180.000
100,000
300,000
300,000
994,000
750,000
6,262,000
2,270,000
1,140,000
4,117,000
84,000
3,300,000
416,000
367,500
1.497,000
118,895
29,000,000
10,000,000
2,500,000
4,100,000
1,000,000

8
10
3*3
4
7
1*3
5
2
7
6
5
7
6
7
7
7
8
8
6
• S
7
5
7
4
2
6
5
5

g.
g.
g.
g.
g.
*g.

g.
g.
g-

F.
J.
J.
J.
J.

&
&
&
&
&

A. N.Y., Bk.of No. America. Jan., 1892
J.
Jan., 1892
do
do
J.
July 10,1883
Phila., Co.’s Office.
J.
July 1, 1913
do
do
J. Phila., Third Nat. Bk. Jan. 1, 1904
Dec. 1, 1882
July 1, 1902
J. & J.
Hartford.
Q.—J.
F. & A.
J. & J.
A. & O.
M. & N.
J. & J.
J. & J.
J. & J.
J. & J.
A. & O.
M. & N.
A. & O.
A. & O.
F. & A.
A. & O.
J. & D.
M. & S.
J. & J.
A. & O.
A. & O.
J. & D.

Bridgeport & Boston.
Bridgeport, Office.
do
do
do
do
N. Y.. Union Trust Co.
do
do
N. Y., J. J. Cisco & Son.
do
< do
do
do
do
do
do
do
do
do
Philadelphia, Office.
do
do
do
do
do
do
N. Y., 214 Broadway,
do
do
London.
London,Morton R.& Co.
do
do

Oct. 15, 1883
Aug. 1, 1885
July 1, 1889
April 1, 1910
1898
Jan. 1, 1913
Julv 1. 1891
July 1, 1891
Julv 1. 1903
Oct. 1, 1912
May 1, 1915
April 1, 1921
Oct. 1, 1890
Feb. 1. 1895
April 1, 1895
Dec. 1, 1889
Sept. 1, 1883
July 2, 1883
April 1. 1895
April 1. 1903
Dec. 1, 1905

Joseph to Atchison, Kans., 19 miles; Palmyra to Quincy, 111., 13 miles’ applied to construction. From October, 1882 to May 1, 1883, gross
warnings, $173,609; net, $104,416. Paul Bremond, President, Houston,
total operated, 292 miles.
The company was chartered Feb. 16,1847, and road completed to St Tex. (V. 35, p. L89, 339; V. 36, p. 510, 731; Y. 37, p. 75.)
Joseph in Feb., 1859. The branches were built under different organiza­
H o u sto n & T ex a s C entral.—Owns from Houston, Tex., to
tions. Ti.e Bridge across the Missouri River at Kansas City Js owned. Red River City, Tex., 345 miles; branches—Hempstead, Tex., to
The company had a Congressional land grant and received $3,000,000 Austin, Tex., 118 miles; Bremond, Tex., to Ross, Tex., 58 miles; total
in bonds from the State of Missouri, which loan was repaid in cash in June, operated, 522 miles. Texas Central RR. completed from Ross to Al­
1881, but litigation followed as to the interest payable on the State bany, 177 miles. The company has a land grant from the State of
bonds, the State claiming interest should be paid to it at 6 per cent till Texas of 10,240 acres per mile, amounting to about 5,130,720 acres ;
maturity. The U. S. Circuit Court decided the further sum of $176,049 but the lands, as in the case of other Texas roads, are not on the line
. to be due the State, and the case is yet pending on appeal. The land of the road. Mr. Morgan, of the Louisiana Steamship Line, bought a
sales for two years past were as follows: 1881, 29,836 acres for controlling interest ih the stock, and in February, 1883, the Southern
$204,107, average $6 84 per acre; 1882, 1%784 acres for $-7,030, Pacific syndicate purchased this interest ($4,400,00p of the stock)
average $5 51 per acre. The lands unsold are 35,905 acres, and amount with their purchase of the Morgan property. Total stock is $7,726,900.
yet due for lands sold, $707,093.
(See Y. 36, p. 212.) The general mortgage of 1881 for $18,500,000 is
In September, 1882, a syndicate, including Jay Gould, Russell Sage, made to the Farmers’ Loan & Trust Co. as trustee. Last report of earn­
and others, bought about 90,000 shares o f common stock from John ings on the 522 miles gave the figures below. The payments out of net
R. Duff, of Boston, and in May, 1883, this common stock and a large earnings iu 1882 were: Interest on funded debt, $1,193,255; on
amount of preferred were sold to the C. B. & Q. KB. Co. at 45 for the floating debt, $53,858 ; other payments, $160,499; total, $1,407,613.
•common and par for the preferred, payable in C. B. & Q. 5 per cent bonds
Gross Eam’gs.
Net Eam’gs.
at par.
$3,741,000
$1,733,677
Preferred stock has prior right to a non-cumulative dividend of 7 per 1880 (522miles)................
3,748,655
1,606,782
- «ent; thencommon to 7 ; then both share. Fiscal year ends Dec. 31. 1881 (522 miles)................
1882
(522m
i
le
s
)
.....,...........................
3,156,517
1,407,613
- Annual election occurs in May. Annual report in V. 36, p. 284.
—(V. 35, p. 77, 161, 237, 658; V. 36, p. 80, 212; V. 37, p. 2 0 0 .)
INCOME ACCOUNT.
H u n tin g d o n & B ro a d T o p .—Owns from Huntingdon, Pa., to
1879.
1880.
1881.
1882,
Mt. Dallas, Pa., 45 miles; branches:—Shoup’s Run, 9 miles; Six Mile
$
$
(jj
$
Run, 5 miles; and Sandy Run, 3 miles; total operated, 62 miles.
Total gross earn’g s ...
1,997,405 2,561,390
2.257,231 2,419,600 Tins road was opened in July, 1856. The capital stock is $1,368,050 com­
Receipts—
mon and $1,983,500 7 per cent pref. stock. No dividends ever paid on
773,983
1,256,800
819,939 1,043,824 common stock and none on preferre d since 1865, when 3*2 per cent was
Net earnings.............
Premium on bonds...
............
............
288,978
............ paid. Earnings in 1881, $332,653; net, $165,712. In 1882, earnings,
Miscellaneous........
1,514:
6,354
41,795
4,746 $320,434; net, $159,036.
. Lands &1. gr. bonds.
297,107
63,610
37,559
...
I llin o is C en tral.—L ine of R oad—The Illinois Central Co. operates
Total in com e..... 1,072.601 1,326,764
1,188,271 1,048,570 a system embracing 1,909 miles of road and covering a wide territory,
which
requires a'inap to show at all forcibly the strength of its location.
Disbursements—
$
$
$
$
Interest on d e b t..___
657,320
654.640
654,640
653,620 The company has no line of its own connecting the Northern and Iowa
Dividends on pr. st’k.
............(6*2)330,395 (7) 355,810 (6*2)330,395 Divisions with Chicago. Mainline—Chicago to Cairo, 365 miles; DunMiscellaneous............
139,902
147,598
124,007
24,745 leithto Centralia, 341 miles. Branches—Otto to Colfax, 111., 60 miles;
Buckingham to Tracy, 111., 10 m iles; Kempton Junction to Kankakee
Tot. disbursem’ts.
797,222
1,132,633
1,134,457
1,008,760 Junction, HI., 42 miles; Gilman to Springfield, 111 miles. Total owned,
929 miles. Leased—Dubuque to Iowa Falls, 143 m iles: Iowa Falls to
Balance, surplus...
275,382
194,131
53,814
39,810 Sioux City, 183 miles; Waterloo to Minnesota State Line, 76 miles.
—(V. 35, p. 103,189, 297, 308, 320, 575, 706; V. 36, p. 195, 221,251, Total leased, 402 miles. Total operated Dec. 31,1882, 1,330 miles. On
Jan. 1,1883, took formal possession of the Chic. St. L. & N. O. RR., to
* 8 4 , 312,340, 399,453, 560.)
be known as “ Southern Division,” and making. 1,909 miles operated
H a rrisb u rg P o rtsm o u th M o u n t J oy & Lan caster.—Owns in all. The Chicago St. Louis & New Orleans extends from New Orleans,
from Dillervilie, Pa., to Harrisburg, Pa., 36 miles; branch, Mid­ La., to Cairo, III., 549 miles; branches: Kosciusko Junction, Miss.,
dletown, Pa., to Columbia, Pa., 18 miles; total operated, 54 miles. to Kosciusko, Miss., 18 miles; Durant to Lexington, Miss., 12 miles;
The property was leased to the Pennsylvania Railroad Co. for 999 total, 578 miles.
years from Jan. 1, 1861, the rental being 7 per cent on the stock and
Organization, L eases, &c.—This company was chartered in Decem­
interest on the bonds. Operated as a part of main line of Penn. RR. ber, 1850, and organized in March, 1851, and the whole road, 707
—-(V. 36, p. 5-0.)
miles, opened September, 1856. The Illinois Central was one of the
H a r r isb u r g & P o t o m a c ,- Owns from Bowmansdale to Shippens- first, and has been one of the most successful, of the land grant roads.
burg, Pa., 32 miles; branch to mines, 5*2 miles; total operated, 37*2 The first lands granted were upon the condition that the company
miles. Extensions are projected from Jacksonville to Shippensburg and should pay to the State 7 per cent of gross earnings yearly in lieu-of
irom Bowmansdale to Harrisburg. Bonds authorized, $1,800,000. taxes. The Springfield 1hvision was acquired by a lease o f the Chicago
Stock $379,165. C. W. Ahl. President, Newville. Pa.
& Springfield (Gilman Clinton & Springfield foreclosed) for 50 years,
H a r tfo rd & C onnecticut W e ste r n .—Hartford, Conn., to Rhine- but road is practically owned. The leases of Dubuque & Sioux City RR.
eliff, N. Y., 108 miles; Millertonto Conn. State line, 2 miles; total, 110 and Iowa Falls & Sioux City are on different terms. (Seethe names of
miles. Foreclosure suit.was begun in 1880 against the former Connect­ those companies.) The company acquired a controlling interest in the
icut West., and the State Treasurer took possession. On May 25,1881, Chicago St. Louis & New Orleans Railroad, to which it made large
bondholders re-organized, and stock in new company is issued for advances From July 1,1882, leased the Chicago St. Louis & New
bonds. In March, 1882. the purchase of the Rhinebeck & Connecticut Orleans for 400 years, at 4 per cent per annum on stock, and issued the
Railroad was made for $800,000 in the stock of this company. Gross above 4 per cent leased line stock, exchangeable for the Chic. St. L. &
earnings 1881-82, $304,273; deficit, $15,187, after deducting over N. O. stock. The 111. Central owned all but $7,300 of the total stock
of $10.000,000. Fiscal year ends Dec. 31. Annual election held in May.
$100,000 for extraordinary expenses. (V. 35, p. 602, 736.)
Stock and B onds.—The Illinois Central stock has been held largely
H o u s a to n ic .—Owns from Bridgeport. Conn., to State Line, Mass., in England. The bonds of the company proper are very limited. On
74 miles; Brookvilleto Danbury, 6 miles; leased—Berkshire Railroad, the Chicago St. Louis & New Orleans the lessee guarantees the
22 miles; West Stockbridge Railroad, 3 miles; Stockbridge & Pitts­ principal and interest of all the outstanding bonds prior to the 5
field ltR., 22 miles; total, 127 miles. The preferred 8 per cent stock was per cent bonds, and, by an indorsement on the latter bonds, guar­
issued in 1845 to pay for laying the road with heavy iron. The com­ antees the payment of the interest on the same until the principal
pany voted to issue $700,000 of the 5 per cent bonds to take up $400,000 is paid. Of the first mortgage bonds, $541,000 are a prior lien on
prior bonds, and to lay steel rails. There are also $200,000 rolling stock that portion of the road in Tennessee. The consolidated 5 per cent
certificates. Operations and earnings for four years past as fellows:
mortgage bonds of 1951 are to be issued only for redemption of prior
’ Passenger Freight (ton)
Gross
Net Div. t bonds, and their issue does not inorease the debt, which is limited to
$18,000,000.
Miles.
Mileage.
Years.
Mileage.
Earnings.Earnings. Pref.
Dividends on Illinois Central stock since 1870 have been : in 1871,10
6,340,830
12,741,554 $598,335 $248,420
8
1878-9... . 127
7,325,680
1879-80 . . 127
17,890,190
740,997
247,283
8 per cent; in 1872, 10; in 1873, 10; in 1874, 8 : in 1875, 8 ; in 1876,
8;
in 1877, 4;- iu 1878, 0 ; ' in 1879. 6 ; in 1880, 6; in 1881, 7 ; in 1882,
7,846,894
1880-81. . 127
17,277,336
754,513
273,981
8
1881-82 . 127
8,546,740
17,510,670
746,328
253,203
8 7 ; in 1883, 8, and 17 per cent in Chic. St. L. <fc N. O. stock, exchangeable
for scrip. Prices of the stock yearly since 1870 have been : in 1871,
H o u s to n Mast & W e s t T e x a s.—Owns from Houston, Tex., 132® 139*2! in 1872, 119® 140; in 1873. 90®126*s; in 1874, 90a>108*3!
to Nacogdoches. Tex., 140 miles. (Narrow guage, 3 feet.) It is intended in 1875, 88*2@106*2; in 1876, CO^s £103% ; in 1877, 40*2®79; in 1878,
to build to Marshall. The company has a Texas land grant of 10,240 723s®87; in 1879, 79*4®100%; in 1880, 99*2® 1273s; in 1881,124®
acres for each mile constructed and equipped. Bonds issued to the extent 146*2; in 1832, 127%® 150*2; in 1883 to last Saturday, 124®148.
Of $7,000 per mile first mortgage and $5,000 per mile second mort­
Operations and F inancjss.—The Hlinois Central for many years paid
gage. Stock authorized, $10,000,000; issued, $1,500,000. Gross 10 per cent dividends, as the road drained a rich territory, of which it
earnings 1881-2, $251,079 ; net, $143,197; interest on bonds, $56,795v was the only outlet to Chicago. But the building of numerous east and
The surplus of $86,401, and , cash from land sales, $50,659, were west lines crossing its road cut into its business severely. The company,




J .V H .Ì.O J X V V

O c t o b e r , 1883.]

~ —

of any error discovered in these T a bles.
Bonds—Princi­
INTEREST OR DIVIDENDS.
pal,When Dne.
Rate per When Where Payable, and by Stocks—Last
Miles Date Size or
Amount
Dividend.
par
of
Outstanding Cent. Pay’ ble
of
Whom.
&c^ een oteB Road.
Bonds Value.

Subscribers w ill confer a great favor by g lvln
DESCRIPTION
For explanation

I ll
sp - R R - 101
206
224
2d
M.
do
do
185
1st mort., (Miss. Cent.).
do
1185
2d
mort.,
do
do
567
1st mort.........................
do
567
2d mort.
do
do constM.Tgld.'(tor $18,000,000) All.
147
Illin ois M id la n d -ls t m ortga^, gold ..
696
In d ia n a Bloomington <6 West.—atocit...
202
1st mort.,pref., coup, or reg .............
202
1st mortgage, coup., may pe-reg.......
202
Income Ponds,reg., convertible . . . . .
342
Consol, income bonds for $6,000,000
202
l S S , f f E X n i j i Ä n - - .
I „ 140
Indianavolis Decatur <&Springfield—1st mort., gold 152
152
Ind. r S
Ä
; göldT för $3,38Ö,b00); $ & ' i
In d ia n a Illinois ¿-Iowa—Stock
.... . ........
Indianapolis &
m 3 senes.. ...

New mortgage for $2, 0 0 0 , 0 0 < L - - —

Indianapolis <6 Y m ce n n e s-la t mortgage, gu a r....

2d mortgage, guaranteed..v....................
Iow a Falls <&Sioux City ^ tocK . . . .

................... .

2d mortgage, (mcome for 3 years). . . .......

110
72
72
117
117
184
184
38^
38^

1877 $1,000 $1,600,000
910,000
1,000
1878
2.815.000
1,000
1856
1.483.000
1,000
1860
200, 000.
1854 500 &c.
747,000
1865 100 &c.
1.400.000
1,000
1877
80,000
1,000
1877
1,000 11,275,000
1881
4.175.000
1875
Too 10,000,800
..
1 , 000,000
1879 100 &c
3.500.000
1879 500 &c
72,300
1879 100 «fee
4.565.000
1,000
1881
1.500.000
1879 500 &c,
3.000.
000
1,000
1881
1.800.000
1,000
1876
1 .000.
000
1881 500 &c
1.100,000
500
1881
1.386.000
... .
1,0‘bo 2,000,000
1869
( 1)
1883
1.700.000
1867 500 &c.
1.450.000
1,000
1870
4.623.500
100
__
2.947.500
1869 500 «fee.
294,000
—
498,090
1877 100 &c.

t o extend its business,
CNo report of
-Orleans, and invested laigely m
imuois Central has always
the Southern line has been made,and- t h e ^ a®^u^ t 8 8 S its operadeclined to publish any report of its net i n c o m e ^
$9,992,700
tions are included m the 111. Cent, in e i .
maa
, aeainst the
o f the $10,009,000 stock of which $4,422,700
, ^ a8 owned
leased line 4 per cent stock. and the
j®
X883, a distribution of
absolutely
^
to Illinois Central stockholders.
liabilities, win be

J. «fe J. N. Y., 214 Broadway.
F. <& A.
J. & J.
A. <& O.
M. «fe N.
F. <fc A.
M. «fe N.
J. «fe D.
J. «fe D
J. & J.

Jan. 1.
Aug. 1,
July I,
Oct. 1,
Nov. 1,
Feb. 1,
Nov. 1,
Dee. 1,
ju ne 15,
Jan. 1,

1898
1921
1886
1890
1884
1886
1897
1907
1951
1905

N. Y., Corbin Bank’g Co
do
do
do
do
do
do
do
do
do
do
N. Y., First Nat. Bank.
N. Y,, 67 Wall Street.
London and New York.

Jan. 1, Ï9 0 0
April "1, 1909
April 1, 1919
July 1, 1921
April 1, 1909
June 1, 1921
A p rili, 1906
July 1, 1911
April 1, 1911

Various N. Y., Union Trust Co.

July Ï , 1919

F .'& A . N. Y., Farm. L.' & T. Co.
do
do
M. «fe N.
Boston.
Q —M.
N.
Y.,
Nat.
Park
Bank.
A. <& O.
J. «fe D. N.Y., Hanover Nat. Bk.
do
do
J. «fe J.

F eb"Ü Ï 9 0 8
May 1, 1900
Sept. 1 ,1 88 3
Oct. 1. 1917
Dee., 1906
Jan. 1. 1907

J. & J
A. «fe O
J. & J
& J
& J
&D
<fe O
J. & J
A. «fe O

•
1882.
1883.
Disbursements—
S253 276
$575,770
327,738
Rentals p a id ...................................................... .
Interest on debt...................................
30.306 28,456
Miscellaneous.................................*........................................ ...........................
/
4.79.701
931,964
Total disbursements........................... def 43>31x
Balance........... ; ................................................
—(V. 36, p. 139, 623, 67 3 .)
..
' '
In d ia n a p o lis

seen in 1883 and following years.
INCOME ACCOUNT.

8,322,127

8,586,397

1881, was leased to Ind. Bloeuj-* <cooo 000 per year. A new adjustment
1882.
earnings but with a § S f ^ T s I p ’ b O l.T . y3 3 p 303), was partly
$
8,905,312

4,631,840
112,000
165,551

4,428,231
161,105
286,224

4,906,746
181,825
145,732

4,909,391
$
708,702
672,600
444,125
1,740,000

4,875,560
$
735,696
668,000
465,352
2,030,000

5,234,303
$
5“ n’ d I a „ , p o l t . * E T a n , v m . . - I n progress '¿•“ “ ^ >
l8ptr°eI S * :
761,227
531,000
484,750 issued, and in 1883 foreclosure was sought. (V. 36, p. 44 /.)
; ^ sM
2,030.000
In d ia n a Illin o is & ^ ^ Y u C l n d . , 1UO Silts5" I U s S i e “
1,271,452

1879.
Total gross earn’g s..
Receipts

Net earnings............
Interest ...............
Miscellaneous,. . . .
Total net income ..
Disbursements—

Rent’lspd.on ra lines
Interest on debt.......
T a x e s ......................
Construction in Illi­
nois during yea r...

7,249/183
onv

102,321
113,461
4,423,545
615,830
669,484
, 395,011
386,016

1880.

812,323

1881.

925,380

i
X
f
S
S
t
o
r
^
J
5,078,429 eD.l Harvey,
President, Chicago, 111. (V. 35, p. 3 /a, » 40,
Total disbursem’ts
155,874
_
•, u v,on I s _Owns from Indianapolis to Terre
Balance, surplus,....
l l v . 35*, p. 374, 487, 575, 637; V. 36, p. 195, 298, 3 1 0 , 560.)
I l l i n o l s M l d l a n d . —OpCTateefrom TerreH m ite,
Rgase(i’. K
f H.
guaranteed W
l
c T .X e d T
HI., 173 miles, of which 148 miles are on neu ^ Atlanta & Deoaturf
This was a consolidation No-^ 4 ,187 ^ f^the
appointed Sept.
3 806/341
617,204

fl^ 8 7 5

S

4,407,750
501,641

4,824,428
51,132

i I S s T f lt t ln g debt * 600,«10. and
and on July 2 8 ,18»4, tne ioau «piPv Col Cin. <fe Ind. Co. and 1
(subject to 1st m0^ ^ A^n aP„tember 1882,V‘w ith J. H. Devereux a

•000. D. H. Conklin, Receiver. (V. 35, p. 2 1 , v. 00 , i>. *=<^
151.)

by which this company and tne ^ltv eiauu
as a min'
& S S S i % y S ! S S ^ « S S j f ir th i rent of if150,001)p e r year » » a mm
S r ^ % S « r „ S ^ r£ d ^ s ^ ' t o
eerie. - B ,

In d ia n a

¡and branch was leased m April, 1881,

srvriuoileld

t In
s sDecern
ast

ducting the rentals iPaid>
i “ ^ wpre rentals o f $461,814: intf
^ $ 2 2 ? §00° P The?oad is only incidentally of advantage to its ow

Years.
Miles. Mileage
1 8 7 9 ......... 266 12,209,092
1880............. 266 15,285,443
1881........ . - 266 19 479,278
1 8 8 2 .---....... 266

Mileage.
102,630,114
148,947,237
196,029,304

:
Net
Earnings, Earning
$491,14
$1,493,876
608,4:
2,009,922
187,6
2,048,651
2’,086.776 df.111.6

“ i X S T S ' S t o t mott. bond. S » cent per
three years, 4 per cent for the succeeding two yea™>5 Percent
W
B m
« S K ? t t o e e Pyears, and^then
In d ia n a p o lis
n e f n<The pluusy^vmiia1 Company o \ ^ mortgage bonds bear 3 Pe^ cent per a
§ r cent ior the sueoperates the road, advancing^
YG&rs, 4 per cent for tlie succeeding
Ao#nr mifii mntvfrilv Xlie to Vincennes, Ind., 117 mnes.
ceeding three years, and 6 per cent thereafter until “ ^ urn y. in e
taoome bonds take such interest from July 1, 1879 not exceedmg t. per
S
per annum
« 6 8 i i ~ aS « % ! 506? T f 88r » 10% 0 * n 1882, *19,850. Annual int
est on debt amounts to $206,000.
§S
a
.
T„

i

a=2sTc#

Sioux^* ity ^ Ia ., * 841 ndtes.^^This- roadSwas° ^ ® nx<^xg6'7^a^ a
teased to t
h
e
^ h e imuois Central has an opti

was, prevented until nearly tne ciose
j increase, the earnings
on ah other divisions t o g ® . *
fell off considero f the Indianapolis Decatur & p g
^he previous year,
ably from the
a considerable loss,
During the first h ^ . p f t f e y ^ r m s lease p
86d 80 that at the

% S 2 e ^ S T l 8 8 i a n d 1882 «

a. fo U b »/
lo o li
Miles operated Dee. 31.....................................
R eceipts1.826.066
' Cross earnings.................................. .........—
jNet earn in gs...,.........- ......... ....................•.......




,

of
c ^ ^ iiSb™riness^to and^ron^them h
receives a drawbaek of lO
revives rental for 2d miles of it s r
over the Dub. &
the year ending March ‘
used
Sioux
C " y w ^ «307
of la
1883, by
tirethe
total
rental
$307,243 • receipts
receipts &om sales inolud
$530.000;
Q ^ ^ C0^ e W(^ nf f a Jent6’f und inverted is $1,150,0
dividends, $524,824. Th6 continue t
Horace WilUams is P~
a dV n r “ ” r (v s i “ : s s s a * »
• «>
m
dent, L
’
. .V ft .t A r n _Owns from Freeville- to Anbi
Ith a c a A u b u rn & W e ste rn .
usea. The New Y
N.
38i3 miles;
track
v^ tr“ an|’xten
™0n, was
in foreclos
& Y.,
Oswego
Midland
BR.,t°Western
Extenemm
nm sold sueoee80

1882.
and
On April 1, 1883, was leased to Southern Ce
696 |K w “ Y t o Dfir°tbe t e n /o M t . charter.
I
gr^tlarnings.
In
1S81-82
mross earnings were $26,842,
2,740,227,
888, 653 1 President, N. Y. City. (Y 3b, p. 479.)

42

KAILKOAD

STOCKS AND BONDS.

[Vol. X X X V Ii.

Subscribers w ill confer a great favor by g iv in g Im m ediate notice o f any error discovered In these Tables.
DESCRIPTION.
Bonds—^Princi­
INTEREST OR DIVIDENDS.
Miles Date Size, or
pal,When Due.
Amount Rate per
For explanation of column headings, &c., see notes of
of Par Ontstandin#
When
Where
Payable,
and
by
Stocks—Last
on first page of fables.
Road. Bonds Value.
Cent. Payable
Whom.
Dividend.
Jacksonville Southeast.—1st mortgage___
Jefferson (Pa.)—1st & 2d morts. (Hawley Branch)"
1st mortgage (Susquehanna to Carbondale)___
Jeffersonville Madison dk Indianapolis—S tock ........
Jeff., Mad. & Ind., is t M. (s. f. $15,000 per year),
no
do
2d mort. ($100,000 in 1882)..
Jersey City & Bergen—1st mortgage..............
Jersey Shore Pine Creek & B u ff—1st mort", guar!!!.
Joliet & Northern Indiana—1st mort., guar by m ! C
Junction (Philadelphia).—1st mortgage___
2d mortgage.___i . . . . . . . . . Ms ............ I I !!!!!!!!!
Junction <&Breakwater—Funded debt (Dei. St. loan)
2d mortgage...................................................
Kansas Central—1st mortgage (for $3,200,060).......
Kansas City Fort Scott dk Gulf—Stock, common
Stock, preferred.............|..............................
1st mortgage, land, grant, sink, fund" III.............
Mortgage on branches............................
do ^
do
...................".".".!!".".!'..!*!!!!!
Kansas City Lawrence dkSouthern Kansas—1st mor t.
Southern Kansas & Western—1st mortgage____ i
StJmner County RR.—1st mortgage..... .................
Ottawa & Burlington RR.—1st mortg., guar........
Kansas City Springfield dk Memphis—1st mort.......
entucky Centralr-Stock...... ............. ............. .
3d m ortgage.................................. 111111111!III!Ill
Maysville Division mortgage______ . . . Ill 11!11111
General mortgage ...T ........ ......................1IIIIIIII
Keokuk dkDes Moines—1st M., int. giiär. C. R. i. "&P.

54
9
38
224
159
159
6
44
3-6
3-6
45

1880
1867
1869
1866
1870

$1,000
1,000
1.000
100
1,000
1,000

1883
1877
1862
1865
1860
1876
1881

1.Ò00

1,000
1,000
1,000

168
389
389
159
196
26
175
149
18
42
281
150
80

1879
1880
1882
1879
1880
1880
1880
1883

1,000
1,000
1.000
500 &c.
1,000
1,000
1,000
1,000

1855

1.000

160
162

1881 ■ i ’,ò’oo
1878 10Ô &c.

- i ? CT^sonv*^ c Southeastern.—Owns from Jacksonville to Litchmd, 111., 54 miles. This was the Jacksonville Northwest. & Southeast.
R., projected from Jacksonville to Mt. Vernon, 125 miles, Bonds
ere issued at $20,000 per mile, amounting to $600,000. In 1879 the
ompany was reorganized by the bondholders under this name. In 1880
he road was extended 23 miles and bonds issued. Stock $1,000,000. In
ear ending June 30, . 1882, gross earnings, $117,117; net, $23,924
T. S. Hook, President, Jacksonville, 111. (V. 35, p. 625.)
Jefferson.—Owns from Susquehanna Depot, Pa., to Carbondale, Pa.
7 miles; branoh, Hawley, Pa., to Honesdale, Pa., 8 miles; total, 45
mles. Leased in perpetuity to the Erie Railway for $140,000 per
mnum, and now operated by the N. Y. Lake Erie & West. Capital
tock, $2,096,050. Edward M. Clymer, President, Reading, Pa.
Jeffersonville H ad ¡son & In d ia n a p o lis.—Owns from Louis'
ille, Ky., to Indianapolis, Ind., 110 miles; branches—Madison, Ind., to
olumbus, Ind., 46 miles; Columbus, Ind., to Sheibwille, Ind., 24 miles
effersonville, Ind., to New Albany, Ind., 6 miles; Shelby & Rush RR.,
8 miles; Cambridge Extension, 20 miles; total operated, 224 miles.
3e road was leased to Pennsylvania Company from 1873. with a guartee of interest on bonds and 7 per cent on stock. Lease was modified
‘ m Januan'' 1,1880, the lessees to pay over all the net earnings to
e .T. M. & I. Co. In 1881 the Penn. Company purchased $1,939,000 of
e stock. Dividends were at the rate of 7 per cent per annum till
ay, 1880, and reduced afterward. In 1882 interest on bonds was
29,000 and sinking fund $100,000, leaving a deficit for the year of
/4,018. Operating expenses have increased largely since 1880. Earnge for four years past were as follows:
Miles
Gross Earn.
Net Earn. Div. p. c.
186
$1,246,333
$492,863
7
186
1,388,565
541,538
6ia
186
1,462,802
365,043
3
201
1,545,198
356,807
nU.
ersey City & B ergen .—Owns from Jersey City to Bergen Point.,
J., 6 miles. In 1881 gross earnings, $260,798; net, $86,511; in 1882
ss, $283,884; net, $86,105. Stock, $250,000. Dividends 10 per cent
1882. William Keeney, President, Jersey City.
‘ ersey Shore P in e Creek & B u ffa lo .—From Catawissa Juncn to Stokesdale on the Corning C. & A. Road, 75 miles. It is a con­
ation between Philadelphia & Reading lines and N. Y. Central and
nds are guaranteed by these companies and the Corning C. & A
the condition that guarantors shall advance money for interest if
ded and take 2d mortgage bonds for such advances. Stock and
ids naostly held by Mr. W. H. Vanderbilt and no information. See V.
ollet & N orthern In d ia n a .—Owns from Joliet, HI., to Lake
Mon, Ind., 45 miles. Operated as part of the Michigan Central
n line. Road opened in 1854 and leased to the Mich. Cent. Above
e of bonds definitely guaranteed was given as a compromise in
’« of old 8 per cent bonds. Stock ($300,000) carries dividends of 8
Cent per annum.
u nction (P h ila d e lp h ia ).—Owns from Belmont, Pa., to Gray’s
ry, Pa., about 4 miles It connects various lines coming into Philaihia. Capital stock, $250,000. Net earnings in 1881, $69.956 • in
% $124,920. Large dividends are paid according to the receipts.

$300,000
300 000
2 ,000,000
2 , 000,000

2,660,000
2 , 000,000

375.000
3.500.000
800.000
425.000
300.000
400.000
250.000
1.318.000
4.618.000
2.750.000
2,560,400
2.374.000
212.000

2.940.000
1.769.000
248.000
500.000
7,000,000
5,584,800
220.000

400.000
6.036.000
2.750.000

J. & J.
J. & J
J. & J.
Q .-F .
A. & O.
J. & J.
J. & J.

.N. Y., Am. Ex. Nat. Bk
Honesdale Nat. Bank.
N. Y., by Erie Railroad.
N. Y., Farm. L. & T. Co.
ao
do
do
do

J. & ’J.
J. & J.
A & O.
J. & J.
F. <fe A.
A. & O.
F. & A.
F. & A.
,). & J.
M. & S.
F. & A.
A. & O.
J. & J.
M. <& S.
A. & O.
M. & N.
M. & N.
J. & D.

N. Y., Farm. L. & T. Co.
Phila., 233 So. 4th St
do
do
Lewes, Del., Treasurer.
do .
do
Office, 195 Broadway.
Boston,
do
Bost., Nat. Webster Bk.
do
do
do
do
Boston, Nat. Union Bk.
do
do
do
do
Boston. Office.
Cincinnati.
N. Y., Bank of America.

July 1, 1910
1887 & 1889
Jan. 1, 1889
May, 1881
Oct. 1, 1906
July 1, 1910
Jan. 1, 1903
1QMM
July 10,1907
July 1, 1912
April 1, 1900
1890
Feb., 1896
April 1, 1911
Feb. 15,1883 ,
Aug. 15,1883
June 1, 1908
Sept. 1, 1910
Aug. 1, 1922
Apr. 1, 1909
Jan. 1, 1910
Sept. 1, 1910
April 1. 1909
May 1, 1923
May, 1881
June, 1885

J. &" "j. N. Y., Morton, B. & Co. July "i"," 1911
A. & O. N. Y.,Farm. L. & T. Co. Oct. 1, 1923

INCOME ACCOUNT.

Receipts—
Net earnings (inc. narrow gauge).
Interest, &c............. ......¡2............

1880.
$525,915
58,215

Total income.............................
Disbursements—
Interest on K. C. F. S.& G. bonds.
Interest on leased line’s bonds..'
Dividends.......... ............. .......... .
Sinking fund .......... : ......................
Miscellaneous ................................

$584,130

$689,867

$765,370

$234,350
36,936
219,837

$200,059
125,536
312,700
20,330
5,241

$182,850
162,629
312,872
26,830
8,980

11,360

1881.
$663,901
25,966

1882.
$750,319
15,051

Total disbursem ents............. $502,483
$663,866
$694,167
Balance, surplus.
............
$81,647
$26,001
$71,203
—(V .35,p. 457; V. 36, p .312,427, 4 5 2 ; V. 37, p .48,342.)
9
K a n s a s C ity L a w r e n c e & S o u t h e r n K a n s a s .—Owns from
Lawrence, Kan., to Coffeyviile (Indian Ter. Line), 144 miles : branchesOttawa Junction to Olathe, 32 miles'; Olathe to Waseca, 14 miles;
Cherryvale to Harper Kan., 149,miles ; Wellington, Kan., to Hunnewell,
Kan., 18 miles ; leased, Ottawa & Burlington RR., 42 miles ; total oper­
ated, 398^ miles. The* Kansas City Lawrence & Southern Kansas was
formerly the Leav. Law. & Gal. RR., which was sold in foreclosure Aug.
9,1878, and purchased by bondholders, and the present company organ­
ized May, 1879. In November, 1880, the consolidation of the three
roads above named was made, and the consolidated stock of $3,759,000
was purchased in the interest of the Atchison Top. & S. Fe with the 5
per cent bonds of that company (through its auxiliary corporation, the
Kansas City Topeka & Western), according to the terms o f the circular
published m the Chronicle of Nov. 27,1880 (V. 31, p.559). The present
bonds carry 6 per cent after 1883. In 1882 gross earnings were $1,336,704; net earnings, $612,191; total net income, $670,760; payments,
including interest and 6 per cent dividends, $626,677 ; surplus. $44.082
—(V. 36, p. 399, 559 ; V. 37, p. 23, 99, 127, 259, 376.)
K a n s a s C ity S p r in g fie ld & H c m p h i s .—This organization embraces two corporations under the laws of Missouri and of Arkansas to
build a road from Springfield, Mo., to Memphis, Tenn., 281 miles.
Road finished October, 1883. The Kansas City Ft. Scott & Gulf w ill
appropriate 15 per cent of gross earnings on business to or from the
new road to pay interest on the bonds, if needed. Each holder of 50
shares Kansas City Ft. Scott & Gulf stock had the right to take $1,500
m stock of the new Missouri corporation for $1,500 in cash, with $2,000
of the bonds for $500 in cash—making $3.500 for $2,000 cash. (V. 35.
p. 71, 297, 313, 546, 762, 763 ; V. 36, p. 453 ; V. 37, p. 424.)

K e n t u c k y C e n tr a l.—Owns from Covington, Ky., to Lexington,
Ky., 100 miles, and Paris, Ky., to Maysville, Ky., 50 miles; total
operated, 150 miles. This was formerly the Covington & Lex. RR.. which,
was foreclosed in 1859. In 1875 the present company was formed, and
took possession May 1,1875. The Maysv. & Lex. RR. was taken Nov.
17,1876. In June, 1881, a majority of the stock was purchased b y Mr.
C. P. Huntington of the Chesapeake & Ohio road, and an extension
from Paris to Livingston, Ky., 70 miles, will be completed in 1883.
Enough of the general mortg. of 1881 is reserved to retire the prior
bonds. The fiscal year now ends Dec. 31. Annual report for 1882
in Chronicle , V. 36, p. 534, stated that this company had leased of the
notion A B r e a k w a te r .—Owns from Harrington to Lewes Del Louisv. & Nashv. RR. its Richmond branch for 99 years from Jan 1,
piles; branch to Rehoboth, 5 miles; total operated. 45 miles iii 1883, for $24,000 per annum, with a right to purchase at any time for
? voted to consolidate with Breakwater & Frankford and the Worces- $400,000. The company still has unsold $564,000 of the consolidated
ilroads. Gross earnings, 1881, $83,693; net, $30,924. Gross in 1882 bonds. The fixed charges of the company will now be $429,160. To
2,864; net, $51,119. Stock is $306,000. N. L. McCready, Presi- pay this, it is estimated, will require $1,000,000 of gross earnings.
, New York City. (V. 34, p. 625.)
Operaoions and earnings for two years past have been :
ansas C entral.—Owns from Leavenworth to Miltonvale, 168
INCOME ACCOUNT.
S. Sold under foreclosure of first mortgage April 14, 1879 ReorReceipts—
1881.
1882.
zed April, 1879. Gross earnings in 1882, $169,554; net. $5.864- Total gross earnings................ . .......................... $705,127
$724,363
at alter payment of interest, $70.575. Stock, $1,348,000. Union Net earnings..............................................
$214,472$309,273
flc holds $1,313,400 of the stock and $1,162,000 bonds. Sidnev
Disbursements—
n, President.
J Rentals paid
$28,000
$28,00070,875
130,630
■nsas City F o rt Scott & G u lf.—Mileage is as follow s: Interest on debt........ . ....................... ...................
Tuxes.................
17,732
20,412
line—Kansas Cit y to Baxter Springs, 160 miles; branches—Weir
73,252
..........
to Cherry \alle, 50 miles; Arcadia to Coal Mines. 2 miles; Baxter Dividends.................................................. ........... ;
Miscellaneous................
23,885
.
!.!!!!!
igs to Webb City, 22 m iles; Rich Hill Junction to Carbon Centre
MCh Hill, 28 miles; .-Fort Scott Junction to Springfield, 100; CoalTotal disbursements........ ......................
$213,744 $179,042
to Cherokee, 26. Total operated, Dec. 31,1882, 387 miles
s company was organized April 1, 1879. as successor to the Balance surplus................................
$728
$130.231
uri River Fort Scott & Gulf, which made default October 8
(V. 36, p, 252, 5 3 4 ; V. 37, p. 23.)
and was sold in foreclosure February 4,1879. The first mortK e o k u k & D e s M o in e s .—Owns from Keokuk, la., to Des Moines
bondholders of the old road took 80 per cent in the new mortbonds, and for all other claims stock was issued. The branches la., 162 miles. This was a reorganization, Jan. 1, 1874, of the Des
been built mainly by this company and bonds are guaranteed Moines Valley Eastern Div.,' sold in foreclosure October 17, 1873.
nnual report for 1882 was in V. 36. p. 452. Operations and eara- The property was leased for 45 years from Oct. 1,1878, to the Chicago
Rock Island & Pac. RR. on the terms following : that the lessee pay 25 per
or three years past have been as follows:
‘
i88o.
1881.1882. cent of the gross earnings to this company, but guarantee the interest
operat’d (inc. narr’ w gauge)
285
365
389 (not th* principal) on the present bonds. The stock is $1,524,600 of 8
cent preferred and $2,600,400 of common, a majority of which is
gross earnings................... ,. $1,212,364 $1,503,215 $1,703,199 per
held by the lessee. In the year 1880-81 gross earnings were $660,101.
operating expenses.
680,44 L
830,451
1,003,625 and rental, at 25 per cent, $165,025, leaving $27,525 surplus over
interest A dividend of 1% per cent on preferred stock was paid D ecent
t earnings......... $531,923
$672,764
$699,574 her, 1881. (V. 35, p. 737.)




O c t o b e r , 1883.1

BAILROAD

STOCKS

AND

4 3

BONDS.

Subscribers w ill confer a great favor by giving Immediate notice o f any error discovered In these Tables.
Bonds—Princi
INTEREST OR DIVIDENDS.
DESCRIPTION.
jal.Wben Due.
Miles Date Size, or
Amount
of
Par Outstanding Rate per When Where Payable, and by Stocks—Last
For explanation of column headings, &c., see notes of
Dividend.
Whom.
Cent.
Payable
Road.
Bonds
Value.
on first page of tables.

Lackawanna <6Pittsburg—Mortg. (for $2,000,000)
Income bonds (for $1,000,000)...............................
62
Allegany Cent., 1st mortgage, gold................ .
62
do
2d mortgage, g o ld ...............—
do
Income mort., not cumnlati....
Lake Erie <£■Western—Stock................ - ..................... 386
165
1st mortgage, gold............— —
.........
Income bonds convertible (not cumulative). . . . . .
21
Sandusky Extension, 1st mortgage...............
21
do
do
income bonds............. .........
Lafayette Bloom. & Muneie, 1st mort., gold......... 200
do
do
income M. con. (non-cumul.) 200
50
Lake Ontario Southern—1st mortgage, g o ld ..........
Lake Shore <£•Michigan Southern—Stock................. 1,339
Guaranteed 10 per cent stock............................ 864
Consoi. 1st mort., (sink, fund, 1 per cent) coupon
do
do
do
registered 864
Consol. 2d mort., do. (for $25,000,000) coup.& reg, 864
Lake Shore dividend bonds................................ -...
1st mortgage, sinking fund, M. S. & N. I ............... 451
95
3d mortgage (C., P. & A. RR.) registered bonds..
1st mortgage (C. & Tol. RR.) sinking fund........... 162
2d mortgage .
do
.................................. 162
88
Buffalo & State line, mortgage bonds.............
88
Buffalo & Erie, mortgage bonds................ ...........
62
Det. Monroe & Tol., 1st mort., coup., guar...........
37
Kalamazoo & White Pigeon, 1st mortgage........ .
12
Schoolcraft & Three Rivers. 1st mortgage...........
13
Kalamazoo & Schoolcraft, 1st mortgage...............

1883
1881
1882
1882
1879
1879
1880
1880
1879
1879
1880
1870
1870
1873
1869
1855
1867
1855
1866
1866
1868
1876
1869
1867
1867

$ ....
1,000
500 &C.
1,000
1,000
1,000
1,000
1,000
1,000
1,000
100
100
1.000
1,000
1,000
1,000
1,000
1,000
1,000
1,000
1,000
500 &c.
1,000

....

New York.
A. & O.
6
$1,000,000
....
6
(?)
600,000
6 g. J. & J. N.Y., Po st,Martin & Co.
....
150,000
6 g.
Jan’ary
300,000
6
j __
7,700,000
1,815,000
6 g. F. & A. N. Y., Metropolitan Bk.
do
do
August.
T
1,485 000
do
do
F. & A.
327,000
6
7
600.000
2,500 OCC
6 g. M. & N. N. Y., Metropolitan Bk.
do
do
Yearly.
7
1,000,000
994*300
6 g. A. & 0. N. Y., Union Trust Co.
Q .-F . <N Y .,Grand Cent.Office.
2
49,466,500
do
do
F. & A.
533,500
5
J. & J.
1
j 9 7nq nnn i
Q. J.
l 1
J. & D.
7
21,192,000
A. & O.
1,356.000
7
M. & N. Coupons are paid by
5,240,000
7
Treasur’r at Gr’nd
A. & O.
920,000
7
Central Depot, N.
J. & J.
1,595,000
7
Y., and registered
A. & O.
849,000
7
interest by Union
M. & S.
300,000
7
Trust Company.
A. & O.
2,834,000
7
F. & A.
924,000
7
J. & J.
7
400,000
J. & J.
100,000
8
J. & J.
100,000
8

April 1, 1923
April 1, 1923
Jan. 1, 1922
Jan. 1,1912
Aug. 15. 1919
Aug. 15, 1899
Aug. 1, 1919
Aug. 1, 1920
May 1, 1919
May 1, 1899
July 1, 1905
Nov. 1, 1883
Aug. 1, 1883
July 1, 1900
July 1, 1900
Dec. 1, 1903
April 1, 1899
May 1, 1885
Oct. 1, 1892
July 1, 1885
April 1, 1886
Sept. 1, 1886
April 1, 1898
Aug. 1, 1906
Jan. 1, 1890
July 1, 1887
July 1, 1887

1
L a c k a w a n n a & P it t s b u r g .—A consolidation in April, 1883, of
the Allegany Central and the Lackawanna & Western. Capital stock,
$5,000,000, of which $1,500,000 is preferred. Road when completed
will extend from Perkinsville, Pa., to Olean, N.Y., with branches, in all
101 miles. See Y. 36, p. 453. The A. C. 1st mortgage bonds are redeem­
able any time at 105. Archer N. Martin, President, N. Y. City. (Y. 36.
p. 453.)
L a k e E r ie & W e s t e r n .—Owns from Sandusky to Fremont, 22
miles; Fremont to Celina, 99 miles; branch to Minster, 9 miles;
Celina to Muneie, 54 miles; Muneie to Illinois State line, 120 miles;
Illinois State line to Bloomington, 81 miles; total operated, 386 miles.
This was a consolidation, Dec. 12,1879, of the Lafayette Bloomington &
Muneie and the Lake Erie & Western, on the basis following: The consol­
idated company to assume all the debts, issue its stock share for share
for the Erie & Western stock, and issue four shares of its stock for each
share of the Lafayette Bloomington & Muneie stock. The line em­
braces the former Lafayette Bloomington & Mississippi road and the
Lake Erie & Louisville. There are also $160,000 in car trust certificates
outstanding. The fiscal year of this company terminates June 30, and
the report for 1882-83 had the following income statement and balance
sheet, compared with the previous yea r:
INCOME ACCOUNT.
1882.
1883.
$1,424,013
$1,503,523
Gross earnings.. . . . . ............................... .
Operating expenses.....................................
1,140,989
1,304,389
Net e a r n in g s .............. ......... .............
Rentals paid.......................... ............ - ........

$283,024
13,091

Net incom e......................
Payments other than operating expenses
and rentals—
Interest on bonds..............................
Interest on floating debt..........................
Construction of new w ork,......................
Additional equipment...............

$269,932
$278,520
13,733
92,551
20,000

Total.......................... 1.......... .................
$404,804
BALANCE SHEET JULY 1.
Liabilities—
1882.
Capital stock........................
$7,700,000
Funded debt..................... i ..................
7,887,000
83,883
Interest unpaid—not due........... . ..............
Bills payable................
48,060
Vouchers and accounts............................
162,172
Other liabilities...................
80,289
Tfftal...................
$15,961,134
4 Ssds
Construction.............................................
$14,715,557
Equipment...................
929,536
U. 8. Government Post Office Department
5,993
United States Express Company.. ; ..........
2,000
Accounts receivable................... ................
2,788
Due from agents and companies.......... . .
45,715
Materials and supplies . . . , ...................................129,285
Cash on hand.......................................
61,233
Debit balance.............................................
69,233

$199,134
9,645
$189,489
*

$278,520
12,133
130,547
43,534
$164,734
1883.
$7,700,000
7,867,000
83,216
92,841
312,288
.138,879

$16,194,226
$14,715,557
1,034,946
5,993
2,000
4,927
26,887
27,813
31,623
344,478

$15,961,134
$16,194,226
T o ta l..........................
—(V. 35, p. 1 0 3 ,4 5 4 ; V. 37, p. 266, 399, 4 2 1 .)
L a k e O n t a r io S o u t h e r n .—Owns from Sodus Point. N. Y., to
Stanley, N. Y., 34 miles. This company was a consolidation, Dec. 2,
1879, of the Ontario South and the Geneva Hornellsville & Pine Creek
railroads. Stock, $940,475. Gross earnings in 1880-81, $31,088. (V.
33, p. 412.)
L a k e S h o r e & M ic h ig a n S o u t h e r n .—Line op R oad — Owns
from Buffalo, N.Y.,to Chicago, 111., 540 miles; branches owned, 324 miles.
Other lines owned as follow s: Detr. Mon. & Tol., 62 miles; Kalamazoo &
White Pigeon, 37 miles; Northern Central (Mich.), 61 miles; total, 160
miles. Roaos leased are as follows: Kalamazoo Allegan & Gr. Rapids,
58 miles;; Jamestown & Franklin, 51 miles; Mahoning Coal R., 43 m iles:
Detroit Hills. & Southwest., 65 miles; Fort Wayne & Jackson, 98 m iles;
total, 315 miles. Total road owned leased, and operated, 1,339 miles.
O rganization, &c.—This company was a consolidation of the Lake
Shore RR. and Michigan Southern & North. Indiana RR. May 27, 1869
and the Buffalo & Erie RR. August 16,1869. The consolidated line em­
braces the former roads of the Cleveland & Toledo and the Cleveland
Painesville & Ashtabula railroads. The stocks of some of the railroads
which entered into the consolidation forming the Lake Shore & Michigan
Southern road had been largely increased by stock distributions, and on
the lines between Buffalo and Toledo the profits had been so large that
the capital of several of the companies had been repeatedly watered.
The consolidated line (including Detroit Monroe & Toledo) then em­
braced 927 miles, with $34,938,000 stock and $22,283,000 funded debt.
The Detroit Monroe & Toledo, Kalamazoo & White Pigeon, and the
Northern Central of Michigan, are proprietary roads controlled by
ownership of their stdek. The New York Chicago & St. Louis road is
similarly controlled by the purchase made in 1882/ The Chicago &
Canada Southern is also operated by the Lake Shore & Michigan South.




Stocks and B onds .—The guaranteed stock o f $533,500 carries 10 p en
cent dividends. The ordinary stock has paid the follow in g dividends
since 1870, viz.: In 1 8 7 1 ,8 ; in 1 8 7 2 ,8 ; in 1 8 7 3 ,4 ; in 1874, 3 I 4 ; in
1 8 7 5 ,2 ; in 1876, 3*4; in 1877, 2 ; in 1878, 4 ; in 1879, 6 ^2 ; in 1880,
18 81,1 882 and 1883, 8 per cent each year. The range in prices o f stock
since 1 8 7 0 has b een : In 1871, e o V a l l B ^ i i 1872, 83 1a@ 9 8 :14 ; 1873,
57 l4® 97% ; 1874, 67'78@8458 ; 1875, 5 m ® 8 0 i s ; 1876, 48% ® 685s ;
1877, 45® 733s; 1878, 5 5 % < »7 l% : 1879, 6 7 ® lo 8 ; 1880, 95 ® 1 395 s;
1 8 8 1 ,1125s® 13534; 1882, 98 0120*8; in 1883 to last Saturday, 92
114'78. The first consolidated m ortgage bonds are redeemed each year
b y $250,000 contributed to the sinking fund. The above bonds o f all
classes outstanding are given less the amounts held in the sinking
funds, which amounted to $3,000,000 Dec. 31,188 2, of which $2,700,000
were first consolidated bonds.
O perations , F inances . & c .—The annual reports of this com pan y are
models o f clearness in all the statistical matter. The road is greatly
dependent on through traffic, or traffic from com petitive points, and is
therefore peculiarly assailable b y any cutting o f rates on trunk line
business. In 1881 the average gross receipts per ton per mile on all
freight fell to -617 o f a cent and the profit per ton per mile to -203 o f a
cent, and on the im provement in 1882 the receipts were on ly ‘628 o f a
cent and profit ‘215 o f a cent—so sharp is the com petition betw een
Buffalo and Chicago. In 1882, 140,500 shares pref. stock and 124,000
shares o f com m on stock o f the N. Y . Chicago & St. Louis R R . (a con­
trolling interest) were purchased and $6,500,000 o f Lake S. & Mich.
S. 2d consol, m ortgage bonds issued to pay for it. This purchase placed
the Lake Shore in a new position, as it not only has the additional
charge o f $456,890 per annum on its bonded debt, but also the charges
on about $29,000,000 o f the N. Y . Chic. & St. Louis Co.’s debt, amount­
in g to about $1,780,000 per year. The net results o f this new alliance
can only be know n to the directors until reports have been issued.
The statement for first six months o f 1883 (V. 36, p. 707) gave net in­
come over all charges, $1,741,837, against $1,076,095 in 1882, leaving
a deficit o f $236,823 after paying the 4 per cent dividends.
The last annual report is published in V. 36, p. 508, containing the
tables below, showing the operations and the earnings o f the road fo r
a series o f y e a r s :
OPERATIONS AND FISCAL RESULTS.
Operations—
1879.
1880.
1881.
1882.
Passengers c a r r ie d .. 2,822,121
3,313,485
3,682,006
4,118,832
Passenger m ilea g e... 141,162,317 176,148,767 207,953,215 227,098,958
Rate per pass p. mile
2*22 cts.
• 2*13 cts. l -98 cts.
2-15 cts.
Freight (tons) m oved 7,541,294 8,350,336
9,164,508
9,195,538
Freight (tons) m il’ge. * 1,733,423 *1,8 51,1 66 *2,0 21,7 55 *1 ,8 9 2 ,8 6 8
Av. rate p. ton p. m ile 0*642 cts.
0*750 cts.
0*617 cts. 0*628 cts.
E arnings—
$
$
$
$
■
3,138,004 3,761,008
4,134,789
4,897,18o
P a ssen g er.....:.............
F re ig h t....................... 11,288,260 14,077,294 12,659,987 12,022,577
Mail, exp., rents, &e.
845,228
911,159
1,176,615
1,305,877
Total gross earnings. 15,271,492

Operating expenses—

Mamt. o f way, & c___
Maint. o f equipm ent.
Transport’n expenses
T axes...............
Miscellaneous t .. . . . . .

$

1,811,284
1,204,527
4,626,385
437,616
855,212

18,749,461

$

1,815,072
2,168,856
5,307,829
437,639
688,709

17,971,391

$

2,182,510
1,596,537
6,276,361
472,566
751,454

18,225,639

$

2,323,789
1,552,805
5,968,350
503,852
709,011

8,934,524 10,418,105 11,278,428 11,057,807
T otal....... .............
Net e a r n in g s .........
6,336,968 8,331,356
6,692,963
7,167,832
P .o.of op, ex. to ear’gs
58*50
55*56
62*76
60*67
* Three ciphers om itted.
, .
t Includes dam age and loss o f freight and baggage, personal injuries,
law expenses, rents payable and hire o f cars.
. INCOME ACCOUNT.
1879.
1880.
1881.
1882,. .

Receipts—

Net earnings................
Interest, divid’s, & c.
Pr. on b ds.& st’k ssold

$

$

6,336,968 8,331,356
172,806
208.662
......... .
.............

Total incom e___
6,509/774
Disbursements—
$
Rentals p aid ..............
257,489
Interest on d ebt.......
2,616,955
53,350
Dividends, guar.......
Dividends, ordinary. 3,215,322
R ate o f d iv id e n d .,...
6^
New cars & engines*.
.............
M iscellaneous...........
60,128

8,540,018
$
282,955
2,622,730
53,350
3,957,320
8

.............
- ...........

$

$

6,692,963
238,675
850,000

7,167,832
98,392
.............

7,781,638
$
273,925
2,612,230
53,350
3,957,320
8_
674,949
19 9,59 /

7,266,224
§ __
357,087
2 ,7 1 4 ,9 5 5 :
53,350
3,957,320
8

.........
............

Total disbursem’ts.
6,203,244 6,916,356
7,771.371
7,082,712
Balance, su r p lu s ...,.
306,530 1,623,662
10,267
183,512
* In 1880 this item amounted to $700,000, bu t w as charged to o p era t­
ing expenses, and in 1882 it am ounted to $1,019,000, but was charged
in general account below.
—(V. 35, p. 3, 21, 249, 298, 7 2 9 ; V. 36, p. 5 0 8 , 510, 707 ; V . 37, p. 4 1 1 ,
4 2 2 .)

44

KAILROAD

STOCKS AND

BONDS.

[VOL. XXXVII.

Subscribers w ill confer a great favor by giving Immediate notice o f any error discovered in tbese Tables.
DESCRIPTION.
Bonds—Prinei
INTEREST OR DIVIDENDS.
Miles Date Size, or
pal,When Due.
Amount
For explanation of column headings, &c., see notes of
of
Par Outstanding
Rate per When Where Payable, and by Stocks—Last
on first page of tables.
Road. Bonds Value.
Cent. Payable
Whom.
Dividend.
Lake Shore <& Michigan Southern—( Continued)—
■Kalamazoo Allegan & Gr. Rapids, 1st mortgage__
Kal. Allegan & Gr. Rapids, stock, 6 p. c. guar___
Jamestown & Franklin, 1st m ortgage..................
Jamestown & Franklin, 2d mortgage........ .
Lawrence—Stock.. 1 ...... \........ ..................... .
1st m ortgage....___. . . .
Lehigh <&Hudson River—1st mortgage, gold............
Warwick Valley, 1st m ortgage.......... ....................
do
2d mortgage............... .......... ...
Lehigh <6Lackawanna—1st & 2d mortgages............
Lehigh "Valley—Stock ($106,300 is pref.) . * .............
1st mortgage, coupon and registered.....................
2d mortgage, registered........................ ; ...............
Consol, mort., gold, $ & £ (s. fd. 2 p.c. y ’ly) cp.& reg.
Easton & Amboy. 1st mort., guar.(for $B,O0C,OOO)
Delano Land Company bonds, endorsed.......... .
Little Miami—Stock,.common.. . . ..............................
Street con. 1st M. bds (jointly with Oin.& Ind'RR.j
Renewal mortgage.................................. .
Little Rock <£Fort Smith—Stock.............................
1st mort., land grant sink, fund (for $3,000,000)..
Funding coupon scrip....'............ ............... .........
Little Rock Miss. River <6 Texas—1st mortgage.____
2d mortgage........ I...............................................
Little SchuyUcUlr-^Stock.........................................
Long Island-^&took......................... ..................
1st mortgage, extension................... .................’ . ] j
1st mortgage, G lencoveBr................................. ..
1st mortgage, m ain ................................................

58

1868

"*51
51
22
17
41
22
22
25
323
101
101
232
60

1863
1869

196
84
168
165
Ì7Ó
..
31
352
95

1865
1881
1879
1381
1877
1868
1870
1873
1880
1872
1864
1882
1875
1883
1876
1881
__1T
1860
1868
1868

$ ....

$340,000
8
J. & J. )
f
610,000
3
A. & O.
7 . J. & J. > See preceding page, t
368.000
500.000
7 * J. & D. J
(
2
450.000
Pittsburg Office.
<4.-J.
7
F. & A. N. Y., Winslow. L. & Co.
329.000
6
800.000
J. & J. N. Y., Nat. Exch. Bank.
145.000
6
A. & O.
240.000
6
A. & O.
1,000
600.000
7
J. & D.
Philadelphia.
50 27,603,195
2
Q .-J .
Philadelphia, Office.
1,000
5.000.
000 6
J. & D. Reg. atoffice; cp.B’kN.A
1,000
6.000. 000
7
M. & S. Phila., Bank of N. Amer.
1,000 13,854,000
6
J. & D. Philadelphia, Office.
1,000
2,500,1)00
5
M. & N.
do
do
1,000
1.395.000
7
J. & J.
do
do
50
4,637,300
2
Q.—M.
Cincinnati.
1,000
250.000
6
Various Cinn., Lafayette Bank.
1,000
1.400.000
5
M. & N. N. Y., Bank of America.
4,505,308 10 stock. • . . . .
Boston, Treasurer.
500 &c.
2.476.500
7
I. & J. N.Y.,Wm.C.Skeldon&Co
7
173,350
500 <&c.
7
1.871.500
J. "&"*J. Boston, Co.’s Office.
1,000
1.106.000
7
A. & O.
do
do
50
2,646,100
4^2 J. & J. Philadelphia Office.
50 10,000,000
1
Q .-F . N.Y.,Corbin Bank’g Co.
500
175.000
7
M. & N.
do
do
500 &c.
150.000
6
M. & N.
do
do
500
1.121.500
M. & N.
7
do
do
i ’,òbo
1,000
50
1,000

Lawrence.—Owns from Lawrence Junction, Pa., to Youngstown, O.,
18 miles; branch from Canfield Junction to Coal Fields, O., 4 miles; total
operated, 22 miles. The Lawrence Railroad was leased June 27, 1869,
to Pittsburg Fort Wayne & Chicago RR. at 40 per cent ongross earnings,
with$45,O0O per year guaranteed as a minimum. Lease has been transferred to Pennsylvania Co., by which the road is now operated. Gross
earnings in 1831, $193,000; m 1882, gross, $226,910; net, $107,191;
rental, $90,764. (V. 35, p. 2 0 ; V. 36, p. 252.)
L e h ig k Sc H u d so n R i v e r . —This road was opened from Greycourit, on Erie road, to Belvidere, N. J., 63 miles, August, 1882. Con­
solidation April, 1882. of the Lehigh & Hudson River and the Warwick
Valley roads. In addition to above there are $65,000 Wayawanda 6 per
cent bonds due 1900. Stock, $1,340,000. In 1881-82 gross earnings,
$83,691; net, $28,444. Grinnell Burt, President, Warwick, N. Y. ( V.
35, p. 102,189, 298.)
Lehigh 8c Lackawanna.—Owns from Bethlehem, Pa., to Wind
Gap, Pa.., 25 miles. This road was opened in 1867. It is leased
to the Lehigh Coal & Nav. Co., and operated by Central RR. of New
Jersey. Of the above bonds, $100,000 are a 1st mort., and $500,000 2d
mmt. Capital stock, $375,100. Gross earnings in 1881, $47,441; net,
$16,526. Gross earnings in 1882, i-53,839; net, $9,981.
^ L e h ig h V a lle y .—Owns from Phillipsburg- (Pa. Line), N. J., to
Wilkesbarre, Pa., 104 miles; branches—Penn Haven to Audenried,
miies; Hazle Creek Bridge to Tomhicken (and branches), 32 miles;
Lumber Yard to Milnesville (and branches), 18 miles; Black Creek Junc­
tion to M t Carmel (andbranches), 61 miles; Slatedale branch, 3 miles;
Bear Creek Junction to Bear Creek, 11 miles; Lackawanna Junction to
Wilkesbarre, 10 miles; also owns the Easton & Amboy RR., Ambov
N. J., to Pennsylvania Line, 60 miles; total operated, 323 miles.'
In is is one of the most important of the coal roads, and was able to
maintain moderate dividends in the years of depression when the other
companies suspended. Dividends on the ordinary stock have been as
follows since 1870: In 1871,1872.1873,1874 and 1875,10 per cent
pWdj in 1876.«9; in 1877, 5 ^ ; in 1878,1879 and 1880, 4 ; in 1881, 5 l>m 1882, 63a; in 1883, 8 per cent. Prices of the common stock in Phila­
delphia smce 1377 were as follows: In 1878, 32%@42i,i; in 1879 333!
in 188°, 46@57%; in 1881, 573s2>64i4; in 1882, 58i4@67% • in
1883 to Saturday last, 63®73.
The fiscal year ends November 30. The last annual report was in
the Chronicle, V. 36, p. 138. It is one of the peculiarities of the
company’s annual report that no general balance sheet is given The
earnings, expenses and income account for the fiscal years ending Nov
30, were as follow s:
.
°
_ Operations—
1879-80.
1880-81.
1881-82.
Passengers carried one mile.......... 19,812,238 23,123,806 27,449,347
Anthracite coal (tons) moved 1 m.375,303,125 440,626,699 490,420 780
Other freight (tons) moved 1 mile.166,178,752 202,299,285 216,411,651
■Total freight (tons) moved 1 m .. 541,481,877 642,925,984 706,832,431
Earnings—
Coal freigh t.........................
$5,352,604 $6,678,590 $7,158,744
Other freight.....................
1,879,574 2,126,397 2,269,021
Passenger, mail, express, <fcc.......
530,812
618,871
732,304
Total gross earnings.................... $7,762,990 $9,423,858 $10,160,069
Operating expenses....................... 4,002,357 4,648,084
5,833,677
Net e a rn in g s.............................. $3,760,633 $4,775,774 $4,326,392
INCOME ACCOUNT.

1879-80.
$
3,760,633
837,948

1880-81.
$
4,775,774
968,268

July 1, 1888
April 1, 1883
Var.to J’ly ,’97
June 1, 1894
Oct., 1883
Aug., 1895
July 1, 1911
1899
1911
Dec. 1.1907
Oct. 15.1883
June, 1898
Sept., 1910
1898 & 1923
1920
Jan., 1892
Sept. 10.1883
1894
Nov. 2, 1912
July 18, 1881
Jan. 1, 1905
1893
Jan. 1, 1906
1911
July 13, 1883
Nov. 1, 1883
May, 1890
May, 1884
May, 1898

and a contract made by which the Columbus & Xenia road, including
its interest m the above-named branches, was leased to the Little Miarn?
for 99 years.
On December 1, 1869, the Little Miami, with all its branches, &c.,
was leased to the Pittsburg Cincinnati & St. Louis Railroad Com­
pany for 99 years, i-enewable forever. The Pennsylvania Railroad
Company is a party to the contract and guarantees its faithful execution.
Road is now operated by Pittsburg Cin. & St. Louis Railway Co. Lease
rental is 8 per cent on $4,743,300, interest on debt and $5,000 per
annum for Little Miami Company’s expenses of organization; the fulfil­
ment of the lessor’s lease obligation is also stipulated. In 1882 the
gross earnings were $1,808,150; net, $405,350; lease rental, &c., of
lessee, $671,365; loss to lessee, $266,015, against $267,467 in 1881.
L ittle R o c k 8c F o rt S m ith .—Owns from Little Rock, Ark., to
Fort Smith, 165 miles; branches, 3 miles; total, 168. In Dec., 1874,
the property (then 100 miles), including the land grant, was sold in
foreclosure. This company afterwards built 65 miles, and opened the
road to Fort Smith July 1,1876. Six coupons of July, 1876, and after
were funded into 7 per cent notes. Total of notes outstanding Deo.,
1882, $464,747. In June, 1883, it was proposed to fund into 10 year
scrip the coupons falling due July, 1883, and January, 1884, and pay
off floating debt, on account of the suits pending in the U. S. Supreme
Court against this and others roads by the holders of Arkansas State
bonds.
The annual report for 1882 was in the C h r o n i c l e , V. 36, p. 534. In
regard to the smaller earnings in 1882 it said: “ This is accounted
for by the severe drought of 1881, which made its influence felt until
the cotton crop of 1882 was fully assured; and, inasmuch as the m ove­
ment in the same did not commence much before October, our monthly
receipts until then showed a falling off from the previous year. Since
then the receipts have been steadily gaining over corresponding months
of year before. The number of bales of cotton transported over the
road in 1882* was 94,842, against 92,403 for the previous year; and
from Jan. 1,1883,'to April 1,1883, 23,638 bales, against 8,463 bales for
year before. There were canceled in 1882, $145,oOO bonds; canceled
previously, $113,500; total, $258,500. From Jan. 1,1883, to April 14,
1883, the trustees canceled $51,500; total to April 14.1883, $310,000.”
The lands unsold Jan. 1,1883, amounted to 6:*5,390 acres and land
notes, $571,873; in 1881 47,785 acres were sold for $185,705; in 1882
49,431 acres sold for $167,587. In the year 1881 the gross earnings
were $562,650; net, $260,745. In 1882 gross earnings were $539,133;
net, $237,193; interest on bonds, $175,393; on floating debt, $51,004.
J. H. Converse. President, Boston. (V. 35, p. 347; V. 36, p. 29,108,
5 3 4 , 731; V. 37, p. 375, 399, 424.)
L ittle R o c k M ississippi R iv e r & T e x a s.—Owns from Little
Rock to Arkansas City, 113 miles; Tripps to Warren, 53 miles; Rob
Roy Junction to Micawber, 4 miles; total, 1 7 0 .miles, This com­
pany was a reorganization of the Little Rock Pine Bluff & New Orleans
Railroad and the Mississippi Ouachita & Red River Railroad. Both
those companies received land grants and State aid bonds, and this com­
pany is involved with others as defendant in the suits by Arkansas State
bondholders. The coupons due Jan. 1 were not paid, and sorip was
offered to bondholders for two years’ interest to be funded, in order to
enable the company to pay off a floating debt contracted in building 20
miles of new road built in 1881, and which the directors paid for with
their personal notes. As collateral they took $400,000 in bonds. The
interest on the first mortgage bonds amounted to $130,000 a year. The
net receipts in 1882 were $108,000. A washout cost $30,000 for
repairs, besides causing a loss in traffic of $30,000. Earnings in 1881,
$301,225; net, $129,625; in 1882 gross, $321,862; net, $99,601. The
stock is $3,594,600. Elisha Atkins, President, Boston, Mass. (V. 35,
p. 182; V. 36, p. 108,139.)

1881-82$
L ittle S c h u y lk ill.—Owns from Port Clinton to Tamauend, 28
4,326,392 miles;
3 miles; total operated, 31 miles. The East Maha1,079,243 noy RR.,branches,
was leased Jan. 12,1863, for 99 years, and sub-leased to Phila.
&
Reading
July
7,1868.
The Little Schuykill Railroad is leased to the
Total incom e........................
4,598.581
5,744,042
5,405,635 Philadelphia & Reading Railroad
for 93 years from July 7,1868, at a
<D
Lisbursemen ts—
$
fixed annual rental. Of the stock, $158,250 is held by the company, and
§
*
Interest on debt........................
1,630,113
2,268,313
2,019,734 no dividends are declared on this.
Gen’l exp. & loss on Morris Canal.
742,953
772,682
375,490
Dividends.......................................
1,108,757
L o n g Is la n d .—Owns from Long Island City, N. Y., to Green1,522,954
2,350,516
Charged for accum. depreciations
990,338
1,070,059
55 t,319 port, N. Y.. 95 miles; branches, 87 miles; total owned, 182 miles.
Leased—Smithtown & Pt. Jefferson R R „ 1 9 0 miles; Stewart RR. toBethTotal disbursements................
4,472,161
5,634,003
5,300,089 page, 14*5; Stewart RR. to Hempstead, 1*8; New York & Rockaway
Balance, surplus............................
126,420
110,034
105,546 RR., 8 0 ; Brooklyn & Jamaica R R , 9*6; Newtown & Flushing RR.,
3 9 ; Brooklyn & Montauk, 67; Manhattan Beach RR., 17-8; Hunter’s
—(V. 36, p. 80, 1 3 8 ,1 6 9 .)
Point & So. Side RR., 1*5; Far Rockaway branch, 9 ‘4 ; L. I. City &
L ittle M ia m i.—Owns from Cincinnati, Ohio, to Springfield Ohio Flushing RR., 15 8. Operated—N. Y. & Long Beach, 6 ; Central exten­
84 miles; branch, Xenia, Ohio, to Dayton, Ohio, 16 miles; leased’ sion, 8-1; Main St., Flushing, to Great Neck, 6*1. Total leased and
Columbus & Xenia Railroad, Xenia to Columbus, Ohio, 55 miles’ operated, 188 miles. The total of all the roads owned and operated is
Dayton & Western Railroad, Dayton, O., to Indiana State Line, 37 miles’ 370 miles.
Omo State Line to Richmond, Ind., 4 miles; total operated, 196 miles. The
The Long Island Railroad went into the hands of a receiver October,
Iattle Miami Railroad proper extends from Cincinnati to Springfield, but 1877, but in 1881 the company resumed possession. The second mort­
the portion between Xenia and Springfield is now operated as a branch • gage bonds were issued to take up floating debt of various classes.
for the remainder of the main line, as given above, the Col. & Xenia
The control of the company was sold to the “ Long Island Company,”
road, Columbus to Xenia, is used. On Jan. 1,1865, they leased the Dav- controlled by Mr. Austin Corbin and others, in Dec., 1880. In July,
ton & West. (Dayton to Ind. State line) and the Rich. & Miami (State line 1881, the stock was increased from $3,260,700 to $10,000,000, but the
xo Richmond), and on Feb. 4,1865, purchased the road from Xenia to terms of increase and price realized on the additional stock have never
Dayton ; these three roads go to form the branch of 57 miles given been made public. In August, 1881, most of the holders of Smithabove. The partnership agreement was dissolved November 30,1868, town & Port Jefferson bonds and N. Y. & Rockaway bonds agreed to
Receipts—
Net earnings....................................
Other receipts and interest..........




O c t o b e r , 1883.]

ßAILKOAD

STOCKS AND BONDS

45

Subscribers w ill confer a great favor by giving Immediate notice o f any error discovered In these Tables.
Bonds—Princi
INTEREST OR DIVIDENDS.
DESCRIPTION.
pal,When Due.
Miles Date Size, or
Amount
Stocks—Last
Where
Payable,
and
by
Par
per When
of
For explanation of column headings, &c., see notes of
Outstanding Rate
Whom.
Dividend.
Cent. Payable
Road. Bonds Yalue.
on first page of tables.
Long Island—(Continued)—
2d mort. for floating debt..... ........................... ....... 156
164
Consol, mortgage, gold (for $5,000,000)................
10
New York & RockaWay, guar. int. only................
19
Smithtown & Port Jefferson............... ......... . . . . . . .
Long Island City <GFlushing—1st M.. coup, or reg. 10%
1034
Income bonds (cumulative) ($350,000).............
4
Newtown & Flushing, guar, by L. I. R R ---- .'........
27
Los Angelos & San Diego—1st mortgage ..................
112
Louisiana Western—1st mortgage, g o ld ...............
Louisville Evansville <6 St. Louis.-—1st mort.............
2d mortgage, g o ld ........... - ................--------- ...........
Income bonds ... — ...............................................
Louisville & Nashville—Stock— ............................ ... 2,065
General mort., gold, coup, or reg. ($20,000,000). 840
Louisville loan, main stem (no mortgage)........ .
62
Lebanon branch, Louisville loan........... .................
62
do
extension, Louisville loan.......'. . . . ; .......
$1,500,000 Lebanon-Knoxville extension mort.. 172
46*
Cecilian Branch, 1st m ortgage.. . . . . . .v.................
Consolidated 1st mortgage........ — .. — . SS; 7.. 392
Memphis & Ohio, 1st mort., sterling, guar........... 130
83
Memphis & Clarksville br.. 1st mort., sterling....
135
Mort. on Ev. Hen. & N., g o ld ........ '.......................
E. 'H. & N. deben., securea by $800,000 1st M. bds.
3d mort., trust, gold, sink, fa., secured by pledge. 1,079
141
1st mortgage on New Orleans & Mobile R R .........
141
2d mortgage
do
do
. , ........
Bonds see’a by pledge of 2d mort. S.&N.Ala.RR.. 189

$268,935
1878 $100&c.
3,051,000
1,000
1881
500
1871
0)
500
1871
(?)
600,000
1,000
1881
312,000
1,000
1881
150,000
500
1871
556/900
1,000
1880
2,240,000
1,000
1881
3,900,000
1,000
1880
1,000,000
1,000
1882
3,000,000
1,000
1881
100 25,000,000
1,000 10,361,000
1880
850.000
1,000
236,000
1856
1,000
333.000
1863
Pledged.
1,000
1881
1,000,000
1,000
1877
7,070,000
1,000
1868
3,500,000
£200
1871
£200
2,135,940
1872
1,000
2,400,000
1879
567,400
1,000 10,000,000
1882
1.000
5,000,000
1880
1,000,000
1,000
1,000
2,000,000
1880

exchange their bonds for the consolidated mortgage, bearing 5 per cent.
No annual reports have been issued and the only information obtained
is from the statistics furnished the State Engineer. The road has been
much improved in its operating department under the new management,
but the rise in net earnings from $190,‘¿ 96 in 1880-81 to $840,283 in
1881-2, and also the non-payment of any rental to the Brooklyn & Montauk Co., are features which seem worthy of some explanation.
The annual report for 188 L-82 from the returns to the New York State
Engineer was published in Chronicle, V. 35, p. 734, and gave gross
earnings, &c., and comparative statistics as follow s:
1878-79.
1879-80. . 1880-81 1881-82.
326
320
328
352
Miles operated.......... §___
Passengers carried, No........ 5,043,848 6,228,292 6,512,270 8,878,453
Freight (tons) m oved......... 280,071
320,837 ' 339,252
386,260
Earnings and Expenses—
$
$
$
$
Passenger earnings............. 1,032,689 1,162,404 1,237,837 1,608,771
Freight earnings.................. 463,978
531,367
567,055
634,698
Miscellaneous earnings___ 121,283
118,178
141,776
173,583
Gross earnings............. 1,617,950 1,811,849 1,946,668 2,417,057
Expenses and taxes........1 ,2 7 9 ,5 9 1 1,365,856 1,756,372 1,576,774
Net earnings........
338,359
445,993
190,296
840.283
Lease rentals..................... . 193,305
165,399
92,500
192,748
Interest and sinking fund... 205,174
228,121
292,841 200,757
Capital stock......................... 3,260,600 3,260,700 9,960,700 10,000,000
Fundeddebt........................2,479,712 2,713,672 2,691,203 4,169,926
Floating debt........................ 725,386 1,123,794 1,651,975 1,494,015
Total liabilities...........6,465,698 7,098,16614,303,878 16,120,719
Cost of property..................6,271,300 6,629,318 11,086.245 12,757,847
—(V, 35, p, 1 0 2 ,1 8 9 , 211, 373, 7 3 5 , 763; Y. 36, p. 5, 93, 731.)
L o n g Isla n d City & F lu s h in g .—Road from Long Island City to
Flushing, 11 miles. This is a reorganization of the Flushing & North
Side road, foreclosed December 11,1880. The stock is $500,000; par,
$100. The income bonds are payable at will. Leased to Long Island
RR. for 50 years, the lessee taking 60 per cent of gross earnings and
$17,500 for fixed charges. In 1881-82 gross earnings were $211,914, of
which 40 per cent to this company was $84,765. Alfred Sully, Presi­
dent, New York City. (V. 36, p. 55.)
L os A n gelos & San D ie g o .—Florence to Santa Anna, Cal., 27
miles. Leased to Central Pacific, and in 1882 the net earnings paid as
rental were $33,384. Capital stock $570,800. Chas. Crocker, President,
San Francisco.
L o u isia n a W e ste rn .—Owns from Vermìlliònville, La., to Orange,
Texas. 112 miles, and operated by the Texas & New Orleans Railroad
under the same control as the Southern Pacific and Galveston Harris­
burg & San Antonio lines, making pai t of the through line between New
Orleans & Houston. Earnings in 1881, $235,234 ; net, $137,620. In
1882 gross, $408,566; net, $165,602. Stock: is $3,360,000.
L o u isv ille E v an sv ille & St. L o u is.—Line of road, New Albany,
In d „ to Mt. Vernon, Ills., 182 miles; branches to Jasper & Gentryville, 73
miles; total, 255 -miles; opened for through business Oct., 1882. The
road is the reorganized Louisville New Albany & St. Louis, foreclosed
in 1878. In Oct., 1881, a consolidation was made with the Evansv. Rockport & Eastern, with a total capital of $6,000,000. The first mortgage,
as above given, includes $900,000 of E. R. & E. 1st mortgage bonds,
interest Jan. and July. The road was opened for through business in
October, 1882. In March, 1883, the ^st and 2d mortgage bondholders
were requested to fund four coupons, viz.: from April 1, 1883, to Mar. 1,
1885. In 1882 gross earnings were $258,835; net, $102,157. Jonas H.
French, President, Boston, Mass. (Y. 35, p. 103, 131, 211 ; V. 36, p.
365, 399; V. 37, p. 99.)
L o u isv ille & N ash v ille.—(See Map.)—L ine of R oad .—Main
line—Louisville to Nashville, 185 miles; branches—Junction to Bardstown, Ky., 17; Junction to Livingston, Ky., 110; Livingston to JelJico, Ky., 61; Montgomery to Mobile, 179; New Orleans to Mobile, 141;
branch to Pontchartrain, 5 ; Paris, Tenn., to Memphis, 259 ; East St.
Louis, 111., to Evansville, Ind., 161 ; June., Hl.,toShawneetown, 111., 41;
Belleville, HI., to O’Fallon, 111., 6 ; Pensacola, Fla., to Pensacola Junction,
Fla., 44; branch to Muscogee dock, 1 ; Louisville, Ky., to Newport, Ky.,
110; Junction to Lexington, 67; Louisville H. Cr. & W’port. (n. g .) ,ll;
Selma to Pineapple, Ala., 89; Henderson to Nashville, 135; Junction
to Providence, 16; Pensacola extension, 29 ; total owned, 1,6L7 miles;
leased and controlled—Junction to Glasgow, Ky., 1 0 ; -Nashville to
Decatur, 119; Decatur to Montgomery, 183; Junction to Wetumpka, 6;
Junction to Shelby ville, 19; Louisville Transfer, 4 ; No. Div. Cumb. &
Ohio, 27 ; Lebanon to Greensburg, 30 ; Selma to Montgomery, 50 ;
total leased and controlled, 448 miles; total operated June 30,1883,
2,065 miles. Also owns the Richmond Branch (leased to Kentucky
Central), 34 miles, and the Cecilian Branch (leased to Chea. O. & So. W ),
46 miles, and controls, by Ownership of a majority of the stock, the
Nashville Chattanooga & St. Louis and the Owensboro & Nashville, and
as joint lessee with the Central of Georgia, is interested in the Georgia
Railroad and its auxiliaries.
In April, 1883, two important connections were opened, viz.: the
Knoxville branch, connecting with East Tennessee Va. & Georgia, to
Knoxville and the Southwest ; and the Pensacola & Atlantic road was
finished, giving a through route from Savannah to New Orleans.




7
5
7
7
6
6
7
6
6 g.
6 g.
7g.
4
3
6 g.
6
6 &7
6
6
7
7
7
6 g.
6 g.
6
6 g.
6 g6
6

F. & A. N. Y., Corbin Bank’g Co
do
‘
do
Q .-J .
A. & O.
do
do
M. & S.
do
do
M. & N. N.Y., Corbin Bank’g Co.
Jan. 1
do
do
M. & N.
do
do
J. & J. N. Y., Central Pacific.
J. & J. N. Y., Central Trust Co.
A. & O, New York and Boston.
M. & S.
■do
do
April.
F. & A. L. & N. RR., 52 Wall St.
J. & D. N. Y., Drexel, M. & Co.
New York Agency.
A. & O.
Various N. Y., Drexel, M. & Co.
do
do
A. & O.
M. & S. New York, Agency.
M. & S. N. Y., Drexel, Mr & Co.
do
do
A. & 0.
J. & D. London, Baring Bros.
do
do
F. & A.
J. & D. N. Y., Drexel, M. & Co.
A. & O. New York Agency.
Q.—Mar N. Y., Drexel, M. & Co.
do
do
J. & J.
J. & J. New York Agency.
A. & O. N. Y., Drexei, M. & Co.

Aug. 1, 1918
July 1, 1931
April, 1901 i
Sept., 1901
May 1, 1911
May 1, 1931
May, 1931
July, 1, 1910
1920
1921
1902
1920
Feb. 1, 1882
J u n e l, 1930
1886 & 1887
1885-86
Oct. 15, 1893
March 1, 1931
Mar. 1, 1907
April, 1898
June 1, 1901
Aug., 1902
Dec. 1, 1919
1883-84
Mar. 1, 1922
Jan. 1, 1930
Jan. 1, 1930
April 1, 1910

Organization, L eases, &c.—The Louisville & Nashville was chartered
March 2,1850, and opened between Louisville and Nashville November,
1859. The Memphis branch, completed in 1860, was operated in con­
nection with the Memphis & Ohio and Memphis Clarksville & Louisville
roads, which were purchased by theL. & N. The other roads embraced
in the system have been purchased outright or are controlled absolutely
by ownership of a majority of the stock, except those under- leases, as
above described. The liabilities for interest are treated mostly as
belonging directly to the Louisville & Nashville Company, and the
“ rental ” charges, so-called, are very moderate. In 1879 the mileage
was only 973, and in the one year following it nearly doubled, increas­
ing to 1,839 in 1880. The Southeast. & St. Louis RR., which was reor­
ganized after foreclosure of the St. Louis & Southeastern,,Nov. 16,
1880, is leased to the Louisville & Nashville for 49 years, and the L. &
N. issues its bonds as above, secured on the road, about 210 miles long
in Indiana and Illinois. There is also $999,500 of S. E. & St. L. stock.
The fiscal year ends June 30. Annual election is held early in October.
Stock and B onds.—At the close of the fiscal year (June 3Û) 1880 the
capital stock was $9,059,361, and in Nov., 1880, the stock dividend of
100 per cent was made, raising the amount to $18,133,513; Iu October,
1882, the company listed at the Stock Exchange $3,080,000 stock sold
by-the city of Louisville, raising the stock outstanding to $21.213,513,
and the stockholders also authorized the increase of the capital to
$30,000,000 in all, the addition to.be issued as required, of which
$3,786,487 was then listed, raising the amount to $25,000,000. All the
dividends paid since 1870were as follows: In 1871, 7 per cent; in
1872, 7 per cent; in 1873, 7 per cent; in 1877, l ^ per cent ; in 1878, 3
per cent; in 1879, 4 ; in 1880, 8, and 100 per cent in stock; in 1881, 6;
in 1882,3. Prices of the stock from 1872 to date have been : In 1873,
50®79; in 1874, 53®59; in 1875, 361a®40; in 1876, none; in 1877,
26@41; in 1878, 35®39; in 1879, 35®89i2; in 1880, 77®174 ; in 1881,
79®110i2 ; in 1882, 46*s®100% ; in 1883 to last Saturday, 405s®5812.
The general mortgage of 1880 is for $20,000,000, of which $9,716,000
is reserved to pay off prior liens, and the mortgage covers 840 miles of
road subject to liens amounting to that sum. The L. & N. LebanonKnoxville bonds of 1881 hover 110 miles, subject to prior liens, and 62
miles from Livingston to State line as a first lien. The Pen. & Atlantic
is a separate Company and the bonds are not a direct liability of the
L. & N. Co.
The 3d mortgage trust bonds of 1882 are secured by pledge of a
large amount of stocks and bonds belonging to the L. & N. Company
and held as collateral security by the trustee of the mortgage. The
securities pledged are as follows, to w it : Bonds—1,500 L. & N. RR. Co.',
Lebanon & Knoxville Branch, $1,500,000 ; 1,248 L. & N. RR. Co., Pen­
sacola & Selma Division, $1,248,000; 2,667 L. & N. RR. Co., Mobile & Montgomery Division, $2,677,000; 3,208 L. & N. RR. Co., Louisville
Cincinnati & Lexington Railway. $3,208,000; 1,000 Pensacola & Atlan­
tic, $1,000,000; total bonds pledged, $9,633,000. Stooks—Louisville
Cincinnati & Lexington Railway Co.—15,000 shares, preferred, $1,500,000; 10,000 shares common, $1,000,000; S. & N. A ’ abama RR. Co.,
20,000 shares preferred, $2,000,000; 1,850 shares common, $185,000 ;
Mobile & Montgomery Railway, 29,397 shares, $2,939,700; N. O. Mo­
bile & Texas Railroad, 40,000 shares, $4,000,000; Southeast.& St. Louis
Railway, 9,800 shares, $980,000; Pontchartrain Railroad Co., 7,400
shares, $740,000; N. C. &St. L. Railway, 135,400 shares (par $25),
$3,385,000; Owensboro & Nashville Railway, 2,500 shares, $250,000;
Pensacola & Atlantic Railroad, 15,500 shares, $1,550,000; total stocks
pledged, $18,529,700; total stocks and bonds pledged at their par value,
$28,162,700.
Operations, F inances, &c.—The Louisville & Nashville system hav­
ing been developed in its present extensive form since 1879 has a short
history. The 100 per cent stock dividend declared^ in 1880 was made
before the working and result of the newly-acquired roads could be
fully developed. The recent management of the company is believed- to
have been conservative, while liberal. For the year ending June, 1882,
after a small cotton crop in 1881, the net surplus of the year over all
liabilities was $135,008, after deducting $110,000 deficit on the lease of
the Georgia roads and branches. For the year ending June 30,1883,
after a cotton crop of about 7,000,000 bales in 1882, the net income
showed a surplus over all liabilities of $722,669. Messrs. Gould and
Sage went into the directory in October, 1883, and this was mainly
important if it indicated such a close alliance with the trans-Mississippi
roads west from Memphis, as would throw their traffic over the Louis­
ville & Nashville road from Memphis eastward.
For eight months of 1883 gross earnings were $8,7ol,286, net
$3,437,439; against $8,228,576 gross and $3,041,798 net in 1882.
The annual report for 1882-83, in the Chronicle , V. 37, 1 . 373,
gave an account of the various transactions in that year. The c< mparar
five statistics were as follows, not including Nashv. Chat. & St. Louis,
____ ___
¿•'i-si&i
wnich is reported separately:
1879-80.
1880-81.
1881-82.
1882-3.
Miles o w n e d . .......
880
1,438
Miles leased, & c. . . . .
960
434
450
-. 449
1,872
2,028
2,065
1,840
OPERATIONS AND FISCAL RESULTS.
Operations1879-80.
18d>-81.
1881-82.
1882-83, '
Passenger mileage. ^ 48,389,396 82,044.283111,137^575 129,272,559
Rate p. pass, p.mile'
3-72 cts.
3-16 cts.
2-71 cts.
2 61 cts.
Fr’ght (t’ns) mileage 319,690,197 492,933,791 596,639,434 664,139,416
Av rate p. tn p. mile 1*606 cts. 1‘503 cts,
1‘349 cts.
1‘323 cts.

Total operated.

RAILROAD
STOCKS
AND
BONDS.
[V ol
x x x v ii




O ctober , 1883.']

RAILROAD

STOCKS

AND

BONDS.

4 7

Subscribers w ill confer a great favor by g iv in g im m ediate notice o f any error discovered in these T ables.
DESCRIPTION.
Bonds Princi­
INTEREST OR DIVIDENDS.
Miles Date Size, or
pal,When Due.
Amount Rate per
For explanation of column headings, &c., see notes of
of
Par Outstanding
WTien Where Payable, and by Stocks—Last
on first page of tables.
Road. Bonds Value.
Cent. Payable
Whom.
Dividend.
Louisville d- Nashville—(Continued)—
1st M., gold, on Southeast.* St.L.RR.,coup.orreg.
2d mort., gold, on Southeast. & St. Louis RR., cp.
Pensacola Div., 1st mort., gold...............................
Mobile & Montg. Div., 1st AL, ($2,677,000)...___
Pensacola & Selma Div., 1st M., gold ($1,248,000)
Pensacola & Atlantic, mort., guar., ($3,000,000).
Louiev. Cin. & Lex., 1st m o r t .......................
do
2d mort., coup., for $1,000,000
L. &N. mort. on L. C. & L., gold, ($3,208,000)__
Car trust liens.................%................. .......... ............
Louisville New Albany & Chicago—S to c k ............
1st mortgage______ _____________________ ______
Mortgage, gold, on Chic. & Indianapolis D iv.......
General m ortgage...................................................
Lowell & Framingham—1st mortgage bonds............
Lykens Valley—Stock..... .............................................
Mahoning Coal.—1st mortgage, co u p o n ............
Maine Central—Stock............................... ............. .
1st mortgage, consolidated............... .....................
Bonds for Shore Line................... .............................
Bonds ($1,100,000 loan) A. &. K. R R .....................
Extension bonds, 1870, gold....................................
Maine Central loan for $1,100,000.........................
Leeds & Farmington Railroad loan. ........... ...."..
Androscoggin Railroad, Bath City loan................
Portland & Kennebec, 1st mort., extended..........
do
do
consolidated mortgage___
Manchester <6 Lawrence—Stock................ ..................

Earnings—
Passenger................
Freight.....................
Mail, express, &c*...

1879-80.
. 1880-81.
$
$
1,700,207
2,599,353
5,135,985
7,407,403
599,651
904,894

208
208
45
180
104
185
175
175
175

$1,000 - $3,500,000
1,000
3,000,000
1,000
600,000
1,000
Pledged.
1,000
Pledged.
1,000
Pledged.
1,000
2,850,000
100 &c.
892,000
1,000
Pledged.
1,000
1,975,290
454
100
5,000,000
288 1880
1,000
3,000,000
158 1881
1,000
2,300,000
446 1883
1,000,000
26 1871
1,000
500,000
21
20
600,000
43 1872
1,000
1.486,000
3o6
100
3,603,300
304 1872 100 &c.
3.905,500
....
1883
750,000
55 1860-1 10Ó&C.
1,100.000
18 1870 500 &c.
496,500
109 1868 100 &c.
756,800
36 1871 100 &c.
633,000
30 1866 100 &c.
425,000
71 1863 100 &o
217,300
71 1865 100 &c.
1,166,700
26
100
1,000,000

1881-82.
$
3,007,465
8,050,339
929,941

1881
1881
1880
1881
1881
1881
1867
1877
1881
1882

1882-83.
$
3,379,178
8,786,574
1,069,163

M. & S. N.Y., Drexel, M. * Co.
M. & S.
do
do
M. & S.
do
do
M. & N. New York Agency.
M. * S.
do
“ ao *
F. & A. N. Y., Hanover Nat.Bk.
.1. & j . N. Y., Drexel. M. & Co.
A. & 0.
do
do
M. & N.
New York Agency
A. & 0.
Philadelphia. :

March 1, 1921
March 1, 1980
Mar. 1, 1920
May 1, 1931
Mar. 1, 1931
Aug., 1921

6
J. & J. N. Y ., Nat .Bk. Commerce
6 g. F. & A.
do
do
6
do
do
5
A. & O. Bost., Hide& L.Nat.Bk.
3
Q .-J .
New York. Treasurer.
7
J. & J. N.York, Union Trust Co.
3
F. & A.
7
A. & O. Boston, 2d Nat. Bank.
5
6
M’ntlily Boston, 2d Nat. Bank.
do
do 6 g. A. & Ó.
7
J. & J.
do
do
6
J. & J.
do
do
6
Q .-J .
do
do
6
A. & O. Portland, 1st Nat. Bank.
6
A. & O. Boston, 2d Nat. Bank.
5
M. & N. Manchester and Boston.

July 1, 1910
Aug. i ; 1914
1888
April 1, 1891
April 3, 1883
Jan. 1, 1902
Aug. 15, 1883
April l,- 191.2

6 g.
3 g.
6 g.
6g.
6
6
7
7
6 g.
. 6

Earnings.
Passengers ....................
Freight...........................
Mail and express..........
Miscellaneous...............

1907
Nov. 1, 1931
1883-89

1890 to 1891
Oct., 1900
• July, 1898
July, 1891
Oct. 15,-1883
April 1. 1895
May 1, 1883

Expenditures.
$291,164 Operating expenses. ... $991,27 2
1,022,292 Taxes.............................
18,265
59,222
10,296

Total gross earnings
Oper’gex. (exql.tax.)

7,435,843 10,911,650 11,987,745 13,234,915
Total.......................... $1,009.537
T o t a l...................... $1,382,974
4,138.532 6,713,140 7,429,370 $,099,595 . Net
earnings (25-68 per cent), $355,172. Payments—Rentals, $98,035;
interest, $318,000; other, $25,000; total, $441.035. Deficit, $85,863.
Net earnings---3,297,310 4,198,510
4,558,375
5,135,320 Bennett H. Young, President, Louisville, Ky. (Y. 35, p. 161. 291. 545.
575; Y. 36,p. 140,510; Y. 37, p. 1 5 0 .)
’
'
*
Includes rent, rent of „cars and engines, &c.
,
L o w e l l & F r a m in g h a m .—OwnsJrom South Framingham, Mass.,
INCOME ACCOUNT.
to Lowell, Mass., 26 miles. Leased to Boston Clinton Fitchburg & New
Bedford Co. and lease transferred to Old Colony. Stock, $500,000 5 per
Beceipts—
Net inc’me, all so’ces 3,297,310 4,423,719
4,824,816
5,270,091 cent. pref. and $500.000 com.; l i t per cent paid on pref. in June, 1883.
Disbursements—
Lykens Valley.—Owns from Millersburg, Pa., to Williamstown,
Rentals..................
58.666
52,000
62,000
67,000 Pa., 20 miles; branch, 1 mile; total operated, 21 miles. It is a
Taxes.
69.667
215,384
309,238
339,409 coal road leased and operated by the Northern Central Railroad since
Interest on debt.......
2,050,900
2,912,327
3,705,823
,053,224 ¿«ly , 1880, and previously by the Summit Branch RR. The lease is for
D ividends.
823,120
1,221,692
654,353
110,053 999 years from March 1,1866, and the rental is $62,500 per annum.
Georgia RR. deficit..
110,000
M ahoning Coal.—Owns from Andover, Ohio, to Youngstown,
Miscellaneous..........
109,743
6,345
. 5,854
6,182 Ohio, 38 miles; branches to coal mines, 5 miles; total operated, 43
miles.
It was opened May 1, 1873, and leased for 25 years from that
Total disbursements
3,112,096 *4,407,748 t4,847,268 14,575,868 date to L.
Sh. & Mich. So, RR., at 40 per cent of gross earnings. Capital
Balanc e ........ ........... Sur.185,274 Sur.256,840 Sur. 135,008 Sur.722^699 stock is $1,373,000. The L. S. & M. S. Co. holds $399,000 of the bonds
purchased under the agreement of lease. Net earnings (40 per cent of
* $240,869 of this to be refunded to the L.& N.Co.. and is incl’ded in the gross) in 1881, $88,583; in 1882, $95,189.
surplus of $256,840. t $157,459 to be refunded, +$28,400 to be refunded.
Maine Central.—Mileage as follows: Main line/Portland to Ban­
gor, Me., 137 miles; branches, Cumberland Junction to Waterville, 73
GENERAL BALANCE AT CLOSE OF EACH FISCAL YEAR.
miles;
Crowley’s Junction to Lewiston, 5 miles; Bath to Farmington.
1879-80.
1880-81.
1881-82.
1882-83. 74 miles; Waterville to Skowhegan, 18 miles; total owned, 307 •miles.
Assets—
$
$
Belfast to Burnham, Me., 34 miles; Newport, Me., ta Dexter,
Road,equipment,&c. 32,703,932 52,023,723 61,593,923 67,385,426 Leased,
Me., 14 miles; total leased, 4$ miles. Total operated, 351 miles. On
Timber & quar. lands
922,109
822,745
763.638
715,773 Oct. 1,1882, began to operate the European & North American road,
.Stocks owned..........
7,326,209 •9,495,867
1,010,798 18,565,852 (114 miles), under lease, at a rental of $125,000 per year.
Bonds owned..........
3,123,708
3,598,090
1,164,338
1.94'i,623
This was a consolidation in 1862 of the Androscoggin & Kennebec
Stks&bds. held in tr’t
9,527,878
9,527,878 Railroad and the Penobscot & Kennebec. In August, 1873, the Port­
Bills & accts. receiv.
806,995
1,713,053
1,655,750
2,011,330 land & Kennebec, Somerset & Kennebec and Leeds & Farmington railMaterials, fuel, & c..
743,885
1,257,973
1,419,279
833,112 «roads were also consolidated with the Maine Central.
Cash on hand............
460,523
1,191,870 *1,238,547
242,929
The annual report was published in V. 35, p. 735. The ending of
So. & No. Ala. R R ...
179,158
579,836
1.276.041
1,454,904 the fiscal year was changed in 1881 from Dec. 31 to Sept. 30. The
Nash. & Dec. R R ___
456,209
329,348
504,121
573,044 report had the following:
Other roads....... .
574,798
317,769
676,159
921,690
ROAD OWNED AN fi OPERATED.
Car trust funds........
469.639
.....
m
'
1880-81.
1881-82.
Lou. & Knox Exten.
1.114.041
Mdes owned.....................................................
305
310
Miscellaneous......... .
50,000
50,000 Miles leased and controlled..........................
46
46
Total assets........ 47,297,529 71,340,274 82,464,122 94,222,561
Total
operated
351
356
Liabilities—
OPERATIONS AND FISCAL RESULTS.
Stock.......... ..............
9,059,361 18,130,913 18,133,513 30,000,000
Operations—
,
1880-81.
B ’nds (see Sup ’ment) 30,978,520 46,951,840 58,087,778 57.903,230
1881-82.
carried.......... ........................ ... ’ .
760,444
Louisville bonds___
934,738
850,000
850.000
850,000 Passengers
Passenger mileage ...............................
23,544,233
Debentures.......... .
34,947,396
643,600
605.000
567,400 Rate
per
passenger
per
m
ile.........1............
.
2-7
Cts.
Bills payable..,.......
2
56 cts.
896,343
1,261,723
592,729
526,558 Freight (tons) moved.......... .........................
5 15,846
All other dues & ac’ts
1,649,291
556,166
931,515
1,714,301
1,130,936 Freight
(tons)
mileage.....
.............................
36,695,243
Interest.....................
38,900,518
321,839
343,644
430,716
445,359 Rate per ton j>er mile
........ ....................
2-74 cts.
Dividends.................
2‘75 cts.
452,965
543,900
36,094
Earnings—
Pensa. & At. R R ....
1,205,707
Passengers............................................ .
$772 833
Mort. on building...
50,000
$895,989
40,000
30,000
Freight.......................................
1,0.3,854
Miscellaneous..........
29,949
1,067,716
" 33,947
36,877
Mad, express, &c......................................
100,392
Income account.......
113,389
485,222
Profit and loss. . . . . . .
3,909,759
1,123,970
777,501
2,762,984
Total gross earnings.................
$1,877,079
$2,077,094
1,229,357
1,359,373
Total liabilities.. 47,297,529 71,340,274 82,464,122 94,222,561 Operating expenses, including taxes___...
* Including balance due for trust bonds,
t Includes $5,000,000 L. & N. stock unissued.
—(V. 35, p. 50, 88, 96,103, 266, 373, 4 0 3 , 4 2 7 ,4 3 0, 431, 497 603 637
Y . 36, p. 169, 252, 399, 427, 453, 560, 707; V. 3 7 ,p .9 9 , 287, 3 7 3,424.,
t ^ o u i s v iH© N e w A lb a n y & C h icago.—Owns from New Albany,
Ind. (opposite Louisville, Ky.), to Michigan City, Ind., 290 miles; Monon
Tto Hammond, 111., 6 8 m iles; Delphi to Indianapolis, 79 miles; leases 17
miles of Chicago & Western Indiana into Chicago—total operated 454
miles. A lease for 999 years with Chicago & Western Indiana at $84,000
pei'year gives entrance to Chicago.
jr,T^ . ^ ? uisvillSvNeT Albany & Chicago was opened* in 1852 and sold
iw
i oo? Dec. ,27, 1872, and reorganized without any bonded debt.
/i +
ed .with Chicago & Ind. Air Line, and stock
r < r t0q $5>000,000, giving15 per cent increase to stockholder^ of
It™ c
o
m p
a
n
y
sold the $3,000,000 of first mort^he stockholders at 20 cents on the dollar. There are
car trust bonds. In 1883 the general mortgage bonds
1£88, Tlle charge for interest ana rentals in
nntVmJwn6 about $512,000; the payments due on car trust bonds are
V
1882,’
receipts were $355,172, and total payments
leaving a deficit of $85,863. Fiscal year ends Dec. 31. The
f° r i ^ S was pubiished in Y . 37, p. 150, and stated that
rt°a^„wa-s completed during 1882 between Indianapolis and Ham.
mond. Earnings were as follows, mainly on the old mileage:




Net earnings............................................

$647,722

$717,721 '

$647,722
8,656

$717,721
5,368

$656,378

$723,089

$54,000
570,466

$54,000
569,542
71,822

INCOME ACCOUNT.

Beceipts—
Net earnings.......... ......................................
Other receipts................. '......................
Total incom e................................
Disbursements—
Rentals paid..............
Interest on bonds.......................................
Dividends............. .............

Total disbursements.;................
$624,466
$695,364
Balance....................... . ........ .........................
$31,912
$27,725
—(V. 35, p. 160, 7 3 5 ; V. 36, p. 75; V. 37, p. 234.)
M a n c h e s t e r & L a w r e n c e .—Owns from Manchester, N. H., to
Methuen (State Line), 2 2 ^ miles; leased, Methuen Branch of the
Boston & Maine Railroad, 3% miles; total operated, 26 miles. Road in
operation since 1849. Formerly operated with the Concord R R ,
as one line, on a division of joint earnings. Methuen branch is
leased at a rental of $11,000 per annum. Company lays claim to a twofifths interest m the Manchester* North WeareRR., which is operated
\>y Concord RR. Ten per cent dividends are paid. The fiscal year ends
MarchJU. Gross earnings in 1881-§2, $199,848; net, $100,199. In
1882-83, gross, $180,498; net, $100,255. (V. 36, p. 560, 6 5 0 , 675 )

48

KAILROAD

STOCKS AND

BONDS.

[V ol. X X X V II.

Subscribers w i ll confer a great favor by g iv in g im m ediate notice o f any error discovered in these Tables.
INTEREST OR DIVIDENDS.
DESCRIPTION.
pal,When due.
Miles Date Size, or Amount
Par Outstanding Rate per When Where Payable, and by Stocks—Last
of
For explanation of column headings, &e., see notes of
Dividend.
Whom.
Cent. Payable
Road. Bonds Value.
on first page of tables.

Manhattan Beach Go.—Stock...................... ......... ......
N. Y. Bay Ridge & Jamaica RR., stock, guar.......
14
N. Y. & Man. Beach RR., 1st m ortgage................
Man. Beach Impr. Co; /Limited), mortgage bonds
4
N. Y. Bay Ridge & Jam. RR., 1st mort. (guar.).,.
32
Mantiattan Elevated—Stock, common.........................
32
Stock, 1st pref., 6 per cent cumulative...............
32
Stock, 2d preferred (not cumulative).....................
Metropolitan Elevated, stock............. ....................
14
do
1st m ortgage............... -...
do
2d M. (guar, by Manhat’n).
18
New York Elevated, 1st mortgage, gold...............
50
Marquette U. <S>O —1st mort.,M.&0., co u p ..............
90
M.4I. & O. mortgage.......... ...........................- — Bonds for Extension, &c—
............... ..: .........
117
Mass..Central-Mortgage bonds, gold................. . . .
328
Memphis <6 Charleston—Stock. — ........ — . . . —
181
1st mortgage, Ala. & Miss. Div. (extend, in 1880).
272
2d mortgage.......................................... — :
Consol. M.,g. ($1,400,0001st M. on 91 m. in Tenn.) 292
133
Memphis <&Little Rk.—1st preference mortgage---General mort., land grant, (s. f. $10,000 after ’82) 133
Mexican Central (Mexico.) —1st M. ($32,000 p. m.). 8S0
Income, conv., not cumulative, reg. ($6,4<>0 p.m.)
Mexican National Railway (Mexico).—jst.M., gold..
Mex. Oriental Inter. <£ Inter’l—Stock ($20,000 p.m.)
Michigan Central—Stock............................................. 1,013
Consolidated mortgage ($2,000,000 are 5s).......... '270
103
Michigan Air Line mortgage.«...........

1877
1879

1878
1879
1876
1872
1878
1883
1880
1854
1867
1877
1877
1877
1881
1881
1872
1870

$4,680,000
$ ....
300,000
7
500,000
7
500 &c.
1,000,000
7
500 &c.
200,000
7
500 &c.
100 13,000,000
6,500,000
100
1*2
100 j 16,500,000 ( 1 ^
100
Ì
1*2
6
1,000 10,818,000
6
2.000,000
1.000
7
8,500,000
1,000
1,427,500
8
100 &c.
576,200
6
1,000
6
988,000
1,000
6 g.
3,500,000
1,000
8
250,000
1,000
7
1,264,000
7
1,000,000
1,958,000
7 g.
1,000
8
2,600,000
250 &c.
....
5,312,725
25
7
1,000 26,640,000
3 *
4,000,000
1,000
1,000 17,330,000
6 g.
(S)
2
i'oo 18,738,204
7&5
1,000 10,000,000
1,900,000
8
1,000

Oct., 1882
Óct.
J. & J. N. Y., Corbin Bank’g Co Jan. 1, 1897
March, 1909
M. & S.
do
do
July, 1896
do
do '
J. & J.
Q .-J .
Q .-J .
Q.—J.
J. & J.
M. & N.
J. & J.
J. & D.
M. & S.
J. & D.
J. & J.
M. & N.
J. & J.
J. & J.
J. & J.
Tanu’ry

Oct. 1, 1883
Jan. 2, 1883
Oct 2, 1882
New York, Office.
N. Y., Mercantile Tr.Co July. 1908
Nov. 1, 1899
do
do
Jan. 1, 1906
do
do
Boston, N. Eng. Tr. Co. June 1, 1892
Mar. 1. 1908
dò
do
do
do
June 1, 1923
Boston and New York. •Tan. 1, 1900
N.Y., H.Talmadge &Co. May 1 ,1883-’4
N.Y., Metropolit’n N.Bk Jan. 1, 1915
do
do
Jan. 1, 1885
do
do
tfan. 1, 1915
N.Y., Treasurer’s Office.] July, 1907

- . . - .

J. & J. N. Y., Winslow, L. & Co. July 1, 1911
do
July 1, 1911
July 1
A. <& O. N. Y. Office* 47 William. July 1,1912

__

Q .-F . Grand Central Depot.
M. & N. N. Y., Union Trust Co.
do
do
J. & J.

Aug. 1. 1883
May 1,1902
Jan. 1,1890

M a n h atta n B e a c h C o.—A consolidation under the above title miles. This road was leased June 2,1877, to the East Tennessee Vlr '
ginia, & Georgia Railroad for twenty years from July 1, 1877. The
Railway, the Manhattan Beach Improvement Company and the Marme lessees were to operate the road on their own account and apply the net
Railway Company. The stock of the new company, amounting to earnings to interest and pay the balance, if any, to the lessors. The
$4 680,000, embraces the stocks of all the other companies converted lease was terminable on 6 months’notice and was modified in December,
into it, and the Manhattan Beach Co. holds those stocks in its treasury, 1879, the M. & C. Company giving up their right to terminate the lease,
except the New York & Manhattan Beach Railway preferred stock, and the lessees agreeing to buy the coupons for three years following in
as also $300,000 2d mort. bonds of the New York & Manhattan Beach case the M. & C. earnings should be insufficient to pay them. Of the new
RR. The New York Bay Ridge & Jamaica Railroad is leased and the consolidated mortgage, $1,400,000 is secured by the old Tennessee State
bonds and stock are guaranteed. In December, 1881, a lease of the lien for $1,736,906, assigned to a trustee.
In 1882-83 there were negotiations pending for a long time for the
New York & Manhattan Beach Railway was made to the Long Island
RR. for 35 p. ct. of gross earnings to the lessor, but the sum of $97,o00 surrender of the M. & C. lease and litigation was threatened, but in
Sept.,
1883, a majority of thestock was obtained by parties interested
per vear is guaranteed to pay all annual charges. In the year 1 - 81-82
gro ss earniugs of the properties-were $249,455, and the surplus over in the East Tennessee Virginia & Georgia RR. Earnings for four years
past were:
expenses and fixed charges. $23,398. (V. 36, p. 313.)
Miles. Gross Eam’gs. Net Eam ’gs.
Years.
M a n h a t t a n E levated.—Road operated, 32 34 miles. This was a 1878$862,513
292
$231,038
9 . . ......... , .........................
corporation formed (Nov. 24,1875) to lease and operate the two elevated 18791,003,271
262,924
8
0
......................
..
292
railroads in New York City. Its capital stock was $13,000,000, and IS80-1.................................. 323
511,345
1,342,082
323
it was to pay the interest on the bonds of the two elevated roads 1 8 8 1 - 2 .......,.........;........ ---- - 328
1,315,729
235,938
328
and certain dividends. The original lease of May 20,1879, guaranteed —(V. 35, p. 189, 212, 236, 298, 373, 405, 431, 510, 602; V. 36, p. 81,
10 per cent per annum on the stocks, but this lease was amended in 108, 170, 196; V. 37, p. 234, 267.)
October, 1881, by agreements among the three companies, which were
M em p h is & L ittle R o c lt .-O w ns from Little Rock. Ark., to Mem­
supplemented by an agreement of November 14, 1881, for the
surrender of the stocks of the other companies, and the issue phis, Tenn., 135 miles. Default was made Nov., 1872, and the property
sold
in foreclosure. The new company also defaulted, and the road was
of new stocks by the Manhattan Company, as follows: To New
York Elevated stockholders, $6,500,000 of first preferred 6 per sold and reorganized April 28, 1877. The stock is $1,500,000. The
companv
has a land grant fr«m Congresa of 1,000,000 acres, of which
cent stock cumulative; to Metropolitan stockholders. $6,500,000 second
preferred 6 per cent stock not cumulative; and to Manhattan stock­ about 150.000 acres had been certified to it to June 30, 1881. In April,
1880,
control
of this company was purchased by the St. Louis & Iron
holders, $13,000,000 of com non stock. (See full contract, V. 33, p. 560.)
The N. Y. Elevated stock was mostly surrendered and exchanged, but Mountain, and on Jan. 1,1882, the coupons were permitted to go to
default,
but
afterward
the coupons were paid. On June 24,1882, a
Metropolitan stockholders held out against it, and after a long contest
the Manhattan party was defeated and the Kneeland party elected their receiver was appointed. The preference mortgage bonds were extended
and
fall
due
$50,000
on
May 1, 1884, and balance May 1, 18-3 In
directors in November, 1882. Finally another agreement was proposed,
but the litigation has not been terminated and the contest in the courts 1882 gross earnings were $704,961, n t $45,946; net earnings in 1881
were
$189,513;
in
1880,
$303,999.
The expenses since 1880 increased
has been of the most complex character. With injunctions pending
against the payment of dividends under the tripartiie agreement, the more largely than the earnings. (V. 35, p. 22, 545,575; V. 36, p. 29,
dividend claims of first preferred stockholders were purchased by Mr. 140; V. 37, p 2 0 1 .)
M exican Central ( M e x i c o ) .- Oct., 1883, had built from Mexico
Jay Gould.
The report for year ending Sept. 30,1832, showed gross receipts of Cifrv uorth, 37» miles; El Paso del Norte southward, 532 miles, and .0
both roads to be as follows;
* miles of Tampico Division; total, 980 miles. Under the management of
N.Y. Elevated. Metropolitan Boston capitalists. Whole line when completed will be (1) the main
^Gross earnings..... .............
$3,216,369
$2,757,264 line, from the City of Mexico to El Paso; (2) from Tampico westerly
Working expenses...................................
$1,844,690
$1,823,680 through San Luis to the main lin e; (3) from the ma n line to the City o f
T a x e s.................
208,463
202.088 Guadalajara, and thence to Pacific Coast at San Bias.
The company was incorporated Feb; 25,1880, under the general law
$2,025,768 of Massachusetts, and by transfei the company holds the charter from
$2,052,153
the
Mexican Government, granted Deo. 5,1874. for a road from Mexico
$731,496
Net e a r r i n g s . ............. ......................... —— $1,163»216
Metropolitan Company.— City to Leon and by modification including lines to Paso del Norte,
,— New York Company.Guadalajara
and Laredo. The company also has other rights granted
Gross
Gross
Earnings.
Passengers.
Earnings. by the State of Chihuahua. The company has a subsidy from
Year.
Passengers.
the
Mexican
Government of $15,200 per mile on most of the lines,
$2,239,489
16,169,269
$1,287,336
1879 ............ 29.875,912
2,591,785
25,917,514
2,021,190 which the Mexican Goverment issues to the Co. as the road is accepted,
1880 ............34,914,243
in
“
certificates
of construction of the Central R ’y, to be redeemed with
2.841,631
34,498,929
2,469,444
1 8 8 1 ............. 41,086,849
6 per ien t of all duties produced at the maritime and frontier custom­
—(V. 35, p. 50, 1 " 2 . 132,189, 347, 405, 413, 456, 545, 575, 658, 706; houses of the Republic.” The subvention on the main line w illbe about
V. 36, p. 56, 93.169, 252, 365, 453, 467; V. 37, p. 23, 48, 342.)
$19,000,000. The first mortgage bonds were issued thus: $5,000 with
\ M arquette H o u g h to n & O n to n ag on .—Owns from Marquette, »1,000 ineome bond and 40 shares of stock for $4,250 on the first sub­
Mich., to L’Ause, 6b miles; branches, 36 miles; total operated, 99 scription, $4,500 on the second, and $4,750 on the third. The income
miles. An extension to Houghton, 31 miles, completed O ct, 188 <. Has a bonds are convertible into stock at par. The stock authorized is
land grant of about 80,000 acres. This was a consolidation Aug. 22,1872, $32 000 per mile. Thos. Nickerson, President, Boston. See V. 35, p.
of the Marq. & Oat. R’y and the Houghton& Ontonagon Railway. The 516 and report for 1882 in V. 36, p. 398. (V. 35, p. 132, 320, 348,
company made default on its bonds, and issued the present 6 per cent 478, 516, 545; V. 36, p. 108, 140, 252, 286, 3 9 8 , 454, 590 ; Y. 37, p. 99,
bonds in exchange for prior 8 per cent bonds. In January. 1883, consoli­ 375,424.)
•
dation was made with the Houghton & L’Arise RR. Stock is $2,806,600
M exican N ational R a ilw a y (M e x .)—This is the road building
common, and $2,259,000 preferred. In Feb., 1883, dividends were paid from Laredo to City of Mexico, 817 m., and Mexico City to Manzanillo,
on common and preferred sock s, and a 4 per cent dividend was paid in with branches to El Salto, Zacatecas and Matamoras, under the PalmerAugust, 1883, on pref. The lands amounted to 425,000 acres, mostly Sullivan concession from the Mexican Government. of which about 440 ,
timber and mineral lands, and in May, 1881, were Sold for $2,500,000, were finished by Jan., 1883. This Co receives a subsidy of $¡1,270 per
and $1.75o,<K)0 b per cent bonds called in. In « aa., 1883, stockholders mile o f road secured by 6 per cent of the Government receipts from
were offered the privilege of taking bonds for the extension, subscribers customs. Statements at some length as to the company’s affairs were
for $l,uOO 6 per cent bonds receiving a bi bus of five shar es of stock in the Chronicle, V. 33, p. 717; V. 34, p. 204. Bonds for $1,000
The business consists largely of the transportation of iron ore, and in with stock for $1,000 were issued for $1,050 cash. Stock outstand­
1883 fell off considerably. Operations and earnings have been:
ing June, 1883, was $22,500,< 0 0 ; par $100. The road is builjfc
by the Mexican National Construct! n Co. In Texas 167 miles of the
Passenger
Freight (ton)
Gross
Net
Years. Miles.
Mileage.
Mileage.
Earnings.
Earnings. Texas Mexican Road from Corpus Christi to Laredo connect with this
1 8 7 9 ....
88
1,130,078
15,124,336
$552,671
«$277,157 road and arc operated with it. W. J. Palmer, President, New York. (V.
1880 . . 88
1,615,903
20,804,176
771,538
4i>f>,,19 35, p 50, 103, 265, 291, 320; V. 36, p. 81.)
1881 ’ 99
2.033,885
23,477,533
893,638
433,756
M exican O riental In terocean lc & In te r n a tio n a l.—This Co.
1882”
99
2,6:0,957
31,337,027
1,176,192
623,176 is f limed to build from Laredo to city of Mexico, 600 miles, in connection
—(V. 3h, p. 50, 347, 546; V. 36, p. 30, 56, 80, 510; Y. 37, p. 400.)
with the Gould svstern of roads terminating at Laredo, and a traittc
M assachusetts C entral.—Boston, Mass,, to Northampton, Mass., agreement from them of 25 per cent of gross earnings. SeeV. 34, p.
104 miles; branou, i3 miles; total as projected, 117 miles. Stock, 605 The Mexican Government grants a subsidy which it is said will
$3,500.0(’0. In April, 1882, company became embarrassed; trustees net $12,000 per mile. See circular of Mr. Gould, as President of Mo.
took possession May, 1883; trains were taken off. On Sept. 1, 18-3, Pacific, in V. 33, p. 687, 716. No road had been constructed (Y. 34, p .
road was soil in foreclosure, and to be reorganized. (V. 35, p. 78, 132, 489, 605; V. 35, p. 320).
430, 515; V. 36, p. 140, 340, 454, 479, 510, 5-¡6, §61, 590 ; Y. 37, p.
M ich ig a n C entral.—Line op R oad .—Owns from Detroit. Mich., to
Kensington, 111., 270 miles; used jointly with Illinois Central, Kensington
i£02, 267, 321.)
M em p h is & C h arleston .—Owns from Memphis to Stevenson, to Chicago, 14 miles; leased lines—Michigan Air Line, 104 miles; Jackson
Ala., 272 a ile.-; branches—to Somerville 13 miles, to Florence 5 Lansing<feSaginaw, 300 miles; Grand River Valley, 84 miles; Kala­
miles; leased, s.evenson to Chattanooga, 38 m iles; total operated, 328 mazoo & South Haven, 40 miles; Joliet & Northern Indiana, 45 miles
w a s made in February, 1880, of the New York & Manhattan Beach




49

EÀILROAD STOCKS AND BONDS,

O c t o b e r , 1883. J

Subscribers w ill confer a great favor by giving immediate notice of any error discovered in tbese Tables.
Bonds—Princi­
DESCRIPTION.
INTEREST OR DIVIDENDS.
Miles Date Size, or
When Du«.
-Amount Rate per When Where Payable, and by pal.
of
of
Par Outstanding
For explanation of column headings, &c., see notes
Stocks- Last
Cent. Payable
Road. Bonds Value.
Whom.
on first page of tables.
Dividend.
Michigan Central—(Continued)—
10 1870 $1,000
¡, Michigan Air Line 1st mort., assumed by M. C—
82 1879
1.000
M. C. bonds, mort. on Grand River Valley RR. -Kalamazoo & South Haven, 1st mort., guar........ • 39 1869
1,000
39 1870
do
do
2d mort., g u a r ......
1,000
84
....
•100
Grand River Valley, stock, guar.............................
84 1866
'do
1st mort., guar....... .............
1,000
145
1872-3
Detroit & Bay City 1st mortgage, endorsed.. . . . . .
145 1881
1,000
Mort. on Detroit & Bay City Railroad............. .
116 1865
1,000
Jackson, Lansing A Saginaw 1st mort.............
1867
1,000
do
1st mortgage............. ................
% do Cons. m. on whole line (300m.)............ 236 1871
1,000
1,000
298 1880
do
do
do
Michigan <£ Ohio—................................. - ........... — •,
13 1866
Middletown Cnionville d Water Cap—1st mortgage.
1881
Midland No. Carolina—1st mort. (for $ 10,000,000)
1,000
Milw. Lake Shored: West—Northern Div., 1st mort. 100 1879
1,000
306 1881
Consol, mort., gold (for $5,000,000)........ .............
1881
1.000
Income bonds (not cumulative)........ _................ .
1,000
1882
Equipment bon d s......................................................
1,000
1882
65
Milwaukee d Lake Winnebago—1st mortgage, gold.
1,000
1882
Income bonds, gold (cumulative)............. ..............
1,000
Milwaukee d Northern—1st mortgage..... ................. Ì26 1880
50
67
Mine Hill d Schuylkill Haven—Stock
.,................
1,000
27 1877
Minneapolis d St'. L.—1st M., Min. to Merriam June.
93 1877 500 &c.
1st mortgage, Merriam Junction to State Line ..
1.000
15 1877
1st mortg., Minneapolis to White B. Lake, guar..
1,000
1st mortgage, goid, coup. (Al. Lea to Fort Dodge) 102 1879
1,000
360 1882
Improvement and equip, mort........... ....................
1,000
53 1880
Mortgage on Southwestern extension ................ .

Niles & New Lisbon, 11 miles; Detroit & Bay City Road, 145 miles ’
total operated. 1,013 miles.
O r g a n i z a t i o n , L e a s e s , &c.—The Michigan Central was chartered in
1846 and purchased of the State of Michigan 144 miles of com­
pleted road and completed the whole line. Detroit to Kensington, in
1852. The Detroit & Bay City road was foreclosed Feb. 12,1881, and
purchased for the Michigan Central, which leased it and put a mortgage
on the road. The other lines described above as leased are all held bv
the Michigan Central nominally under leases at fixed rentals, but are
practically owned. The land grant came from the Jackson Lansing &
Saginaw company as stated below. In Nov., 1882, a close contract was
made with Canada Southern for working its road by the Michigan Cen­
tral and the division of net profits over all charges—one-third to Canada
Southern and two-thirds to Michigan Central.
S t o c k s a n d B o n d s —The Michigan Central stock has remained at the
same amount since 1873. Prior to 1873 it was a regular 10 per cent
stock. In 1872 73 paid 5 per cent and 4 in scrip, but afterward paid
no dividend till 1878, and since then irregular amounts. Since 1870
dividends have been: In 1870-71, 10 per cent; 1871-72,10; 1872-73,
5 and 4 in scrip ; in 1878, 2; in 1879, 3*e ; in 1880, 8; in 1881, 6%; in
1882, none; in 1883. 5 per cent. The range in prices of stock lias been as
■follows: In 18 7 1,114@126; in 1872, 113-2)120: in 1873, 65@111 ; in
1874, 68%@95%; in 1875, 53®82%; in 1876, 34%@65%; in 1877, 35%
@74% , in 1878, 58%@75; in 1879, 7334@98; in 1880. 75@130%; in
1881, 84%@120 ; in 1882, 77®105 ; in 1883, to last Saturday, 77@100%.
The Jackson Lansing & Saginaw debt is assumed by Michigan Centrai,
which also pays, $70,000 per year on the stock of $2,00(^,000 ; the pro­
ceeds of J. L. & S. lands go to pay bonds, and in 1882 sales amounted
to 30,573 acres, for $412,562 ($501,660, including timber), leaving
333,257 acres unsold, valued at $2,499,427, and land notes on hand,
$820,178
O p e r a t i o n s , F i n a n c e s , Ac.—The Michigan Central paid 10 per cent
dividends regularly till 1873, but becoming liable afterward for heavy
obligations on leased lines, the company suspended dividends. The
foad 011 through business is much affected by the competition between
Chicago’ and points eastward, and by the rates on through freights
Thé actual charge for interest and rentals in 1883 is about $1.800,000,
and under the. close working contract with Canada Southern there
would have been net income applicable to dividends as follows : In 1881,
$272,000 ; in 1882, $467,000. A dividend of 5 per cent on Mich. Cent,
stock calls for about $935,000.
The approximate income statement for first six months of 1883 (V.
36, p. 707) showed net balance of $562,146 over all charges, being
equal to the 3 per Cent divid-nd of Aug. 1, and $63,854 over.
The annual report for 1882 in V. 36, p. 508, had-the following :
OPERATIONS AND FISCAL RESULTS.

Operations—
1879.
1880.
1881.
1882.
Passengers carried... 1,445,655
1,699,810 2,079,289
2,368,842
Passenger mileage ... 93,232,430 115,523,789 135,706,148 142,237,961
RateW pass’ker® mile
2-21 cts.
2-13 cts.
2-07 cts.
2-21 cts.
Freight (tons) moved. 3,513.819
3,797,137 4,196.896
3,913,869
1879.
1880.
1881.
1882.
Freight (tons)mileage721,019,413 735,611,995 790,022,930 703,241,320
A„ rate «A
O «4-«
A.Î71
Û cts.
'Ct.nn
Av.
<jj) ton f) »V.Î1«
mile n.dOO
0-092 /if«
cts. A>Of
0'842
cts.
0-718
0-77. /ltd
cts.
Earnings—
$
$
'$
$
Passenger.................
2,062,265
2,461,771
2,812.706 3,146,309
4,986,988
6,195,971
5,675,731 5,426,455
Freight..............
Mail, express, & c.. . . .
297,541
293,633
312,050
340,317
Total gross earnings. 7,346,794
8,951,375
8,800,487 8,913,081
Operating Expenses—
$
$
$
$
Mamt. of way. A c ....
904,613
1,226,536
1,627,919 1,758,084
Maint. of equipment.
623,730
670.006
825,196 1,170,105
Transport’n expenses 2,455,164
2,824,901 3,431,244 3,121,701
Taxes.................... 1 ...
201,682
197,255
215,802
222,*53
Miscellaneous*..........
514,403
820,053
631,935
398,900
Total..........................
4,699,592
5,738,751 6,732,096 6,671,726
Neteam ings.............. 2,647,202
3,212,624 2,068,391 2,241,355
P ct.op.exp.toearn'gs
63-97
64-11
76-50
74-85
* Includes legal expenses, rentals, loss and damage oi freight, injuries
to persons, car mileage, commissions, and several small items.
INCOME ACCOUNT.

Receipts—
Net earnings.............
Interest & dividends.

1879./
$
2,647,202
68,634

1880.
$
3,212,624
134,374

1881.
$
2,068,391
133,845

1882.
$
2,241,355
127,951

Total income.......
Disbursements—
Rentals paid..............
Interest on debt........
Dividends....................
Do
rate per ct.
M iscellan eou s........

2.715,836
$
184,310
1,403,472
1,030,601
5%
............

3,346,998
2,202,236
$
$
184,310
184,310
1,385,120
1,503,616
1,499,056
468,455
8
2*2
70,000 ,
............

2,369,306
$
184,310
1,617,061
374,764
2

$200,000
500,000
640.000
70.000
491,200
1.000,000
424,000
3,576,000
1,106,000
171,000
1 943,000
1,100,000
(?)
400,000
15,000 p.m.
199.000
3,642.000
600.000
170,000
1,430,000
520,000
2,155,000
4,022,500
455,000
950,000
280,000
1,015,000
4,00i',000
636,000

8
6
8
8
2%
8
8
5 ’
8
8
8
6
.7 g.
6
7
6
6
8
6 g.
5 g.
6
3%
7 g.
7 g.
7 g.
7 g.
6
7

M. & N. N. Y., Union Trust C o. Nov. 1, 1890
M. A S.
do
do
1909
M. A N.
do
do
Nov. 1, 1889
M. A N.
do
do
Nov. 1. 1890
J. A J.
do
do
July, 1883:
J. & J.
do
do
July 1, 1886
M. A N.
do
do
May 1,1902-3
M. A S.
do
do
Mar. 1, 1931
do
J. A J.
do
July 1, 1885
do
J. A J.
do
July 1, 1885
do
M. A S.
do
Sept. 1, 1891
do
do
M. A S.
Sept. 1, 1891

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

Middleto’n,N.Y.,lst N.B
Company’s Offices. _
S. N. Y „ S. 8. Sands <fc Co.
N. N.Y., N. Bk. of Com’rce
v do ;
do
N.
do
do
J.
J. Boston and New York.

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

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

....

1886
«
1921
Mar. 1, 1909
May 1, 1921
May 1, 1911
1892
July 1, 1912
July 1, 1912
N. Y. ,Merch.Excli.ìs .Bk. June 1, 1910
Phila.M.H. AS. H. R.Co. July 13, 1883
N. Y., Continental N.Bk. Jan. 1, 1907
do
do
June 1, 1927
do
do N
Jan. 1, 1907
do
do
June 1, 1909
July 1, 1922
do
do
New York.
Dec. 1, 1910

Michigan Sc Ohio,—Road completed from Grand Haven, Mich;,
to Toledo, O. It is constructed by a New York syndicate, much on the
plan of the “ Nickel-plate” arrangement, and each subscription of
$16,500 in cash was to receive $15,000 1st mortgage bonds, 150 shares
of preferred and 250 shares common stock. Bonds issued at $15,000
per mile. (Y. 36, p. 366, 590 ; V. 37, p. 75, 99.)
Middletown Union ville Sc W ater Gap.—Owns from Mid­
dletown, N. Y., to Unionville, N. J. State Line, 13 miles. Is controlled
by New York Susquehanna & Western by ownership of stock. Formerly
leased to the Midland of New Jersey and bonds guaranteed. (,V. 37, p_
23.)
Midland North Carolina.—Owns from Morehead City to Golds­
boro, 95 miles, and constructing to Salisbury, 150 miles further; built
by the Midland Improvement and Construction Co. Total projected line
is 565 miles. Stock, $5,000,0u0. American Loan & Trust Co.. Boston,
is trustee. The company leased the Atlantic & North Carolina in 1881
from Morehead City to Goldsboro, and was constructing its iine to Salis­
bury, but the company became emba rassed and the affairs of the Con­
struction Company were to be wound up. (V. 35, p. 51, 574, 706; V,
37, p.151.)
Milwaukee Lake Shore Sc W estern.—Owns from Milwaukee
Wis., to no them end of division 254 miles, of which 4 miles are
leased; branches—Hortonville to Oshkosh, 23 miles; Manitowoc to Two
Rivers, 6 miles; Eland Junction to Wausau, 23 miles; Antigo to
Bryant, 5 m iles; Monico to Rhinelander, 16 miles; total operated,
322 miles. The old company (125 miles) defaulted in December. 1873,
and on December 10, 1875, the property was sold in foreclosure
and purchased by bondholders.
The reorganized company ha»
$5,000,000 preferred stock and $1,000,000 common. A consolidated
mortgage for $5,000,000 is issued to take up all other debts, and the
balance for extensions, &c. Preferred stock has a prior right to 7 per
ceut from net earnings. The annual report for 1882 was given at some
length in V. 36, p. 650. In 1881 gross earnings, $637,485; net, $212,659. In 1882 gross receipts $909,907; net, $331,863; interest, $199,071; surplus, $132,792; interest on income bonds, $30,000. (V. 35,
p. 189, 373, 374, 431, 487, 576, 677, 706 ; V. 36, p. 649.)
Milwaukee Sc Lake W innebago. — Owns from Neenah to
Schlcisiugerville, Wis. Built in i 8«2 and leased for 99 years to Wiscon­
sin Central at 37% per cent of gross earnings as rental; but after
$175,000 per year is received the balance of net earrings is to be equally
divided. Pref. stock, 6 per cent cumulative, $780,000; common stock,
$520,000; par of shares, $100. (V. 36, p. 196.)
Milwaukee Sc Northern.—Owns from Green Bay, Wis., to
Schwartzburg, Wis., 104 miles; branches—Menasha and Appleton to
Hillbert, Wis., 22 miles; Wisconsin A Michigan Railroad, Green Bay
to Coleman 41 miles; total operated, 167 miles. On June 5 , 1880. fore­
closure was made and road sold for $1,500,000. The stock is $2,155.000. It was ieased to Wisconsin central at a rental of 37% per cent on
gross earniDgs, but lease terminated August, 1882. Gross earnings in
1*80, $470,861: net, $175,053. Gross in 1881, $530,250; net, $19s,944.
Vet in 1882, including rental for seven months, $19'.830.- For last
five months of 1882 gross earnings were $248,733; net, $67,662. Guido
Pfister, President, Milwaukee. (V. 35, p. 51, 103, 291,576.)
Mine H ill & Schuylkill H aven.—Owns from Schuylkill Haven»
Pa., to Locust Gap, Pa., witu braneffes, 66% miles Road was leased
May 12,1864, to the Philadelphia Reading Railroad Co. for 999 years
at a rental of $321,800 per year. There is no debt, and 7 per cent divi­
dends are paid. Operations not separately reported; included in lessee’»
returns.
Minneapolis Sc St. Louis.—Owns main line, Minneapolis to
Angus, 200 miles; Pacific Division, Hopkins to Morton, 92 miles ; Kalo
Branch, 2 miles; total operated, 354 miles. In 1883 acquired the Min •
nesota Central Railroad, 66 miles. In June, 1881, a consolidation was
arranged yrith $2,000,000 of stock.
The bonds of the $1,100,000 mort. (1877), numbered from 1.101 to,
1,400, for $500 each ($150,000 in all), are guaranteed by the Bur. Cedar
Rap. A No. RR. The bonds on the 15 miles were issued by the Minneapolis.
A Duluth Ra road before it was absorbed by this company. Preferred
stock of $8,000,000 is authorized and $ !,00ii,000 issued; common stock.
$12,000,000 authorized and $5,752,000 issued; par of both $100 per
«hare. The projected Southwestern extension runs from Fort Dodge,
la., towards Kansas City, Mo., 325 miles, with a branch to Council
Bluffs, 140 miles. R. R. Cable. President, Chicago.
Tne annual report for 1883, in V. 37, p, 201, had the following: Gross
earning*, $ 1,543,4.2; m t, $ >21,067. Paid interest on bonds, $2) 7,954;
on floating debt, $106,112—total, $324,067.
GENERAL BALANCE SHEET DEC. 31, 1882.
Cost of r’d, equip’t, Ac.$17,961,661 1Common stock . . . . . ___ $5,752,0<‘’O
Materials and fu e l___
13-,706 Preferred s to c k ..¿ .....
4,000,000
bill* and accounts re- _
|Funded debt................. 6,236,000
ceivable................193,939
B lls payable................. 1,441,343
Cp,*h on hand...............
319,438 Current accounts......... 1,178,703
Profit and loss.___. . . .
261, 06 I Other liabilities............
267,207

Total disbursem’ts. 2,618,383* 3,138,486
2,161,381
2,176,135
Balance, surplus.......
- 97,453
208,512
40,855
193,171
Total assets............$18,875,253 |
Total liabilities ....$18,875,253
—(Y. 35, p. 22, 431, 456, 576,729; V. 36, p. 366, 5 0 8 , 663,707; V. 37, p.—(V. 35, p. 405, 577,637, 706; V. 37, p , 20 1 .)
117.)




50

RAILROAD

STOCKS AND

BONDS.

[Vol. XXXVII

Subscribers w ill confer a great favor by giving immediate notice o f any error discovered in these Tables.
Bonds—Prinoi DESCRIPTION.
INTEREST OR DIVIDENDS.
Miles .Date Size, or
Due.
Amount Rate per When Where Payable, and by pal,When
For explanation of column headings, &c., see notes of
Par
of
Stocks—Last
on first page of tables.
Road. Bonds Value. Outstanding
Whom.
Cent. Payable
Dividend.
Minneapolis £ St. Louis —( Continued) —
Mortgage on Lake Superior Extension..................
21 1880 $1,000
$123,000
.2d mort. bonds, income, 5 & 10 years...................
172 1881
1,000
500;000
1st mortgage, gold, Pacific Extension..................
92 1881
1,000
1,382,000
Mississippi £ Tennessee—1st mortgage, series “ A” . 100 1877
1,000
976,000
1st mortgage, series “ B, ” (a second lien).............. 100 1877
1,000
1,100,000
Missouri Kansas £ Texas—Stock................................ 1,441
100 46,405,000
1st m., gold, sink, fund, on road and land (U.P.S.Br) 182 1868
1,000
2,242,000
1st mortgage, gold (Tebo. & Neosho).....................
100 1870
1,000
349,000
Consolidated mortgage, gold, on road and land..-. 786 1871-3 1,000 14,770.000
2d mortgage, income (interest cumulative).......... 786 1876 500 &c.
8,100,000
Booneville Bridge bonds, gold, guar.......................
1873
1,000
914,000
General consol. M .,gold (for $45,000,000)............ 1,370 1880
1,000 12,230,000
East Line & Red River.............................................
1880
440,000
7Ó 1870
1,000
Hannibal & Central Missouri, 1st mortgage..........
768,000
776 1879
1,000
Intemat. & Gt. North’n, 1st mort., g o ld ...,..........
7,954,000
776 1881 500 &C.
do
2d mortgage.....................................
7,054.000
do
Colorado Bridge bonds....................
1880
225,000
Missouri Pacific—Stock...............................................
990
ib o 30,000,000
283 1868
1,000
1st mortgage, gold..................................................
7.000,000
1.000
2d mortgage (s. f. $50,000 per annum).................. 283 1871
2,573,000
. . . . 1872 500 &c.
Real estate (depot) bonds.....................................
800,000
D ebt to St. Louis County (no bonds).......... ............
700,000
3d mortgage............................................................... 299 1876' 1,000
3,828,000
1,000
Consol. M., gold, for $30,000,000 (coup, or reg.).. 990 1880
9,200,000
1,000
15*2 1873
245,000
Carondelet Branch, 1st mortgage..........................
-.
1,000
Missouri River RR., 1st mort............'.............. .
1866
205,000
Leavenworth Atch. & N. W., 1st mort., guar.......
1,000
21 1870
190,000
1880 500 &o
St. Louis & Lexington, 1st mort..............................
650,000
1,000
St. L. Iron Mt. & So., 1st mort., coupon................
2Ï0 1867
4,000,000

Mississippi & Tennessee.—Owns from Grenada, Miss., to Mempins, Tenn., loO miles. Capital stock, $825,400. Debt was consolidated
as above in 1877. Negotiations were pending in 1883 for sale of majori­
ty of stock to Illinois Central, but not consummated. Earnings for three
years past were: 1879-80, gross, $525,489; net, $269,379; 1880-81,
gross, $492,186; net, $194,346; 1881-82, gross, $406,651; net, $152,492. (V. 35, p. 6 5 7 ; V. 37, p. 151.)
Missouri Kansas & Texas.—(See Map, Page 51.)—Line op R oad-?
From Hannibal, Mo., to Denison, Tex., 576 miles; branches, Holdens,
Mo., to Pftola, Kan., 54 miles; Parsons, Kan., to Junction City, Kan., 157
miles; Whitesboro, Tex., to Ft. Worth, Tex. (leased), 71 miles; Fort
Worth, Tex., to Taylor, Tex., 163 miles; Denison, Tex., to Gainesville,
Tex., 41 miles; Denison to Mineola, Tex., 103 miles; Denton, Tex., to
Dallas, Tex., 39 miles; Miller Junction, Tex., to Belton, 7 miles; Trini­
ty, Tex., east, 67 miles; coal branches, 8 miles; Jefferson, Tex., to Mc­
Kinney, Tex., 155 miles. Total, 1,441 miles. International & Great
Northern, from Longview, Texas, to Houston, Texas, 232 miles, and
Palestine, Texas, to Laredo, Texas, 415 miles; branches—Longview to
. Jarvis, 29 miles; Houston to Columbia, 50 miles; Phelps to Huntsville,
8 m iles; Mineola to Troupe, 45 miles; leased—Round Rock to George­
town, 10 miles; Henderson to Overton, 16 miles; leased Gal. H. & H.
road, Houston to Galveston, 50 m iles; total operated 826 miles.
Organization, History, &c.—The M. K. & T. Company was organized
April, 1870, and embraces by consolidation the Union Pacific—Southern
Branch, the Tebo & Neosho and other minor companies. In 1874 the Han­
nibal & Central Mo. was purchased. The company made default on their
consolidated bonds in Dec., 1873, and was operated by a Receiver from
Dec. 30,1874, to July 1,1876, when the Union Trust Company of New
York took possession. The election of Mr. Gould as President took
place in January, 1880. On Dec. 1,1880, the company took possession
o f its property, paying the overdue coupons. The company had a land
grant from the United States estimated at 817,000 acres and from the
State of Kansas 125,000 acres. There is also a grant in the Indian
Territory of 3,622,400 acres subject to the extinguishment of the
Indian title. The Booneville Bridge Company is a separate organiza­
tion, and earns interest and proportion for sinking fund.
At a meeting of stockholders. May 18, 1881, a’ lease to the Missouri
Pacific fo r 99 years was ratified on terms following: That the
lessee operate the road and pay the obligatory mortgage interest, pay­
ing over the balance to the Missouri Kansas & Texas Company. If there
is a deficit i n income the lessee may advance money to pay interest, or
in case of f ailure to make such advance the Missouri Kansas & Texas
can resume possession of its road.
The International & Great Northern Railroad was acquired by Mo.
Kan. & Tex. in May, 1881, by an exchange of two shares of Missouri
Kansas & Texas stock for one of International & Great Northern,
#nd the Int. & Gt. North, stock is held in the treasury of the M. K. & T.
The International & Great Northern was a consolidation Of the
Houston & Great Northern Railroad and the International RR. of Texas
on Sept. 22,1873, The company made default on its bonds, and a re­
ceiver was appointed in April, 1878. Sales in foreclosure were made
July 31 and Oct. 14,1879. In the reorganization the lands of the com­
pany, amounting to about 5,000,000 acres, were conveyed to the
second mortgage bondholders in full settlement for their lien on the road,
which was thereby discharged, and the New York & Texas Land Com­
pany was formed to manage the lands.
Stock and Bonds.—The stock has ranged as follows since 1877,
viz.: In 1878, 2@71s ; in 1879, 538@35% ; in 1880, 281s® 49:14; in 1881,
3478® 54; in 1882, 2638®4212 ; in 1883 to last Saturday, 19*2 to 347s.
The general consolidated mortgage is at $20,000 per mile on all road
built and to be built; of which $18,217,000 is reserved to take up first
consol, and prior bonds; $447,000 for the East Line & Red River bonds;
$10,000,000 (which may bear less than 6 per cent) reserved to take up
income bonds and interest; but the issue of general mortgage bonds for
Incomes and scrip is claimed to be optional with the company, both as
to terms and time. At end of 1882 there was outstanding $2,280,497 of
the Income coupons 6 per cent scrip.
There are also $32,000 of Hannibal & St. Joseph 7s 2d mortgage bonds
ye t out, due in 1892; and also $285,500 of old 8 per cent income bonds of
international & Great Northern, which are exchangeable into I. & G.
N. 2d mortgage bonds. The I. & G. N. also guarantees $2,000,000 of
»Galveston Houston & Henderson 1st mortgage 5 per cent bonds.
Operations, Finances, &c.—Since the road went into the Gould sys­
tem the earnings have increased, both gross and net. The income
account for 1882 showed a deficit of only $97,000 after paying all
charges for interest, but not including interest on the income mortgage.
In 1883 gross earnings are much larger, owing partly to the heavy
Cotton crop of 1882 In Texas.
International & Great Northern gross earnings in 1882 were $3,312,285; net, $981,322.
The report of M. K. & T. for 1882 had the following figures for that
year, which are compared with previous years:
Miles of railroad.......

Earn’gs £ expenses—

1879.
786

$

1880.

87»

1881.
1,207

$

$

1882.
1,374

$

J. &
7
J. &
7
6 g. A. &
A. &
8
J. &
8
”6*g.
7 g.
7 g.
6
7 g.
1 *•
7 g.
6 g.
6
7
1%
6 g.
7
8
7
7
6 g.
6 g.
7
7
5
7

D.
New York.
J. N.Y., Continental N.Bk.
0.
do
do
O. N. Y „ Bank of N. Y,
J.
do
fio

J. & " j.
J. & D.
F. & A.
A. & O.
M. & N.
J. & D.
J. & D.
M. & N.
M. & N.
M. & S.
M. & N.
Q.—J.
F. & A.
J. & J.
M. & N.
mont’ly
M. & N.
M. & N.
A. & O.
J. & J.
A. & O.
F. «Ss A.
F. & A.

N. Y., Company’s Office.
do
do
N.Y.. Mercantile Tr. Co,
N. Y., 195 Broadway.
do
do
do
do
do
do
do
do
do
do
do
do
do
do
New York, Office.
N.Y., Mercantile Tr. Co.
N.Y., Mercantile Tr. Co.
do
do
St, Louis.
N.Y., Mercantile Tr. Co.
do
do
do
do
do
do
do
do
do
do
do
do

June 1, 1910
Jan. 1, ’86-’91
April i , 1921
April 1, 1902
July 1, 1902
Jan., 1899
June, 1903
1904-1906
April 1, 1911
May 1. 1906
Dec. 1, 1920
1900
May 1, 1890
Nov. 1, 1919
19Ò9
1920
Oct. 1, 1883
Ahg., 1888
July, 1891
May 1, 1892
Feb., 1885Nov., 1906
Nov., 1920
Oct. 1, 1893
Jan., 1886
Oct. Î , 1889
Aug., Ì920

1881.

Aug. 1, 1892

Expenses, taxes, «fee.

1879.
$
2,072,751

1880.
$
2,616,046

3,299*541

1882.
$
4,338Ì036

Net earnings . . . .
Imp.,eng.,carhire,&c

1,271,541
228,333

1,545,625
............

2,081,296
149,622

2,112,428
............

Available revenue.. 1,043,208
1,545.625
1,911,674 2,112,428
P. ct. op. exp,to earn.
61-98
62-83
58-71
63-98
—(V. 35, p. 7 7 , 133, 291, 320, 637; Y. 36, p. 110, 427, 675.)
Missouri Pacific , — (S e e M a p , p a g e 51).—L i n e o p R o a d .—Owns
main line from St. Louis, Mo., to Atchison-, Kan., 330 miles; branches
660 m iles; total 990 miles. In May, 1881, the St. Louis Iron Mountain *
& Southern was taken in. July, 1883, the mileage was as follows: From
St. Louis to Texarkana, Texas Line, 490 miles; branch lines, Mineral
Point, Mo., to Potosi, Mo., 4 miles; Bisinarck, Mo., to Belmont, Mo., 121
miles; Poplar Bluff, Mo., to Bird’s Point, Mo. (Cairo), 74 miles; Gurdon,
Ark., to Camden, Ark., 34 miles; Knobel to Forrest City, 9 7 miles;
Forrest City to Helena, 43 m iles; Newport to Batesville, 27 m iles;
Neelyville to Doniphan, 20 miles; total, 906 miles.
O r g a n i z a t i o n , L e a s e s , &c.—The Pacific RR. Co. (of Missouri) was
incorporated under charter dated March 12, 1849, and road opened to
Kansas City in October, 1865. The company received a loan from the
State of Missouri.
The Pacific Railroad of Mo. was sold in foreclosure of the 3d mortgage
Sept. 6, 1876, for the nominal price of $3,000,000, to C. K. Garrison
and others, and a new company organized with a stock of $800,000.
The present company was a consolidation in August, 1880, embracing
the Missouri Pacific, St. Louis & Lex., Kansas City & East, and Lex. &
South, in Missouri; and the St. Louis Kan. & Ariz. and Kan. City Leav.
& Atch. in the State of Kansas.
The St. Louis Iron Mountain & Southern stock was taken up with
Mo. Pacific in May, 1881, on the basis of three shares of Mo. Pacific for
four shares of Iron Mountain, and the St. Louis & Iron M. tockis
held by Missouri Pacific.
S t o c k a n d B o n d s .—Under the new regime the payment of dividends
was begun on the present stock in 1880, in which year 1*3 per cent was
paid. Dividends since were as follows: in 1881, 6; in 1882, 6 ^ ; in
1883, 7.
The consolidated mortgage above is for $30,000,000—trustees John F.
Dillon and Edward D. Adams. The bonds are issued to retire the out­
standing bonds of the consolidated company, as above given, amounting
to $20,184,000. The remaining $9,816,000 are issued as may be re­
quired for finishing, constructing, purchase, acquisition, «fee.
O p e r a t i o n s , F i n a n c e s , & c .—The earnings and income account below
are for the Missouri Pacific and its branches only (990 miles); for, notwithstandingjthe merger of St. Louis & Iron Mountain stock and lease of
Missouri Kansas & Texas, the operations of all the roads have been
kept separate and are so reported. The Missouri Pacific is regarded as
the main company of the whole Southwestern System of Gould roads,
and on its stock only are dividends paid.
The annual report of Mo. Pacific for 1882 was published in the C h r o n ­
i c l e , V. 36, p. 422, and was the first report ever published under the new
management. The income account and balance sheet were as follows:
INCOME ACCOUNT, 1882.
To accrued int. on b ’ds. $1,598,389 I Surplus earnings 1882. $3,766,982
Taxes.............................
148,573 |Wal.<fc 0. T. & Ferry Co.
Rental acct. leas’d lines
96,000 j earnings__ $102,988
Dividends paid............. 1,946,419 I Less expenses 56,5 3 1 46,456
Sundry amounts paid ..
100,746 \Dividends received, &c*
526,662
Balance to credit of inI________
Sundry amts,
received._______■
127,433
come acct. Dec. 31,’82 4,635,101 I Bai. inc. acct. Jan. 1,’$2, 4,057,756
------~ $8,525,291 I
$8,525,291
* Not including any dividends from St. L. I. M. & So.
FINANCIAL EXHIBIT DECEMBER 31, 1882.
Cost of road and equipment, &e........................... .....................$39,298,900
Supplies and material bn hand................................................
624,117
Advances to roads under construction—
Trinity & Sabine Ry.—Trinity, Tex., eastward.$286,701
Doniphan Branch, St. L. I. M. & So. R y ............ 199,242
White River Branch, St. L. I. M. & So. R y........ 223,497— 709,441
Investment in stocks and bonds................. ....................... . 20,856,311
Balances—Uncollected earnings....................1......................
202,579
Cash on hand.......... . ............................................. 1,238,990
$62,930,340
By capital stock (including exchanges for Iron Mtn. stock) .$29,958,900
Funded debt—(See S u p p l e m e n t ) ..................................... .
25,379,000
Interest due and accrued—Due and uncalled for. $28,894
Accrued, but not due
................................... .
440,078— 468,972
Vouchers, Dec., 1882, payable Jan. 1 5 , 1883 ......................... 2,395,919
St. Louis Bridge & Tunnel C o .Surplus earnings,.......... ............. .............................................
51,000
Hospital account.......... .................. .............. ......................
41,386
Balance of income account, Dec 31,1882........ .................. 4,635,161

Passenger earnings.
Freight earnings. . . .
Miscell. earnings....

714,751
2,455,864
173,677

820,201
3,110,461
232,389

1,058,054
4.050,119
252,663

1,380,590
4,710,071
359,803

Gross earnings..

3,344,292

4,161,671

5,360,837

6,450,46 A its interest in 1875 and finally made a compromise with its bondholders,




$62,930,340

St . L o u is I r o n M o u n t a in & S o u t h e r n .—This company defaulted on

BÖKDS
RAILROAD STOCKS ÁKD
O c t o b e r , 1883.J




RAILROAD

5 2

STOCKS AND

BONDS.

[YOL. XXXVII.

ubscrlbers w ill confer a great favor by giving Immediate notice o f any error discovered In these Tables.
Bonds—Princi­
INTEREST OR DIVIDENDS.
DESCRIPTION.
pal, When Due.
Miles Date Size, or
Amount
Par Outstanding Rate per When Where Payable, and by Stocks—Last
of
For explanation of column headings, &c., see notes of
Dividend.
Whom.
Cent. Payable
Road. Bonds. Value.
on first page of tables.
Missouri Pacific—( Continued)—
7 g. M. & N. New York or London.
310 1872 $1,000 $6,000,000
St. L. I. M. & S., 2d M..gold, coup., may here?
1,000
2,500,000
7 g. J. & D. N. Y., Mercantile Tr. Co.
99 1870
Ark. Branch, 1st mort., gold, land gr do
do
do
1,000
1,450,000
7 g. J. & D.
1872
71
Cairo Ark.&T:, 1st, gold, cp.or reg---- do
do
do
1,000
7,657,000
7 g. J. & J.
Cairo & Fulton, 1st, g., on road & land. 1 304 1870
do
do
do
1,000
A.
&
O.
10,353,000
5*g.
Gen’l consol. M. (for $32,036,000)— ? 907] 1881
do
do
do
3,311,000
5 g. A. & 0.
1881-2 1,000
do
supplemental, gold I
do
1,000
1,124,000
7 g. J. & J. N.Y., Mercantile Tr. Co.
56 1874
Mobile & Ala. Grand Trunk—1st M. ($20,000 p. m.)
1,000
300,000
J. & J. N. Y., Nat. City Bank.
8
85 1869
Mobile <£ Girard—2d mort., end. by Cent. Ga. KR..
1,000
800,000
4
do
do
J. & D.
1877
3 d mortg. bonds.............................2 . . .....................
100
2,950,800
180
2^2 F. & A. N. Y., Drexel, M. & Co,
Mobile &Monty.—Stock.................................; ..........
100
5,320,600
Mobile <£■Ohio—-Stock............... .................
— . . . . 528
7,000,000
1,000
* 6 ‘ g. J. & "d . N.Y. Farmers’ L’n & Tr.
472 1879
1st mortgage, g o ld ............................................. .
5,300,000
7
Yearly. N.Y., cor. Pine& Nassau
1879
1st pref. inc. and s. f . debentures, not cumulative
1,850,000
Yearly.
7
do
do
1879
2d
do
do
do
600,000
7
Yearly
...
do
do
1879
3d
do
do
do
Yearly.
900,000
7
do
do
1879
4th
do
do
do
600,000
6
J. & J.
do
do
1,000
22 1880
Mort. on Cairo extension (Ky. & Tenn. RR.)
1,500,000
6
J.
&
J.
N.Ÿ.,
Nat.
City
Bank.
1879
8
L
Montgomery d Eufaula—1st mortgage...........
800,000
2
Boston.
50
38
Montpelier d Wells River—Stock............... —
A.
&
0.
5.000,000
7
New
York.
1,000
1878
110
Morgan's La. d Texas—) st mort.,gold(N.O.to M.City)
6 g. J. & J.
do
1,491,000
1,000
150 1880
1st mortgage, Alex. Extension, gold
3Lj J. & J. N. Y., Del., Lack & W.
50 15,000,000
132
M om s d Essex—Stock..........................
M & N.
do
do
5,000,000
7
250
84 1864
1st mortgage, sinking fund.......... .
rr
F. & A.
do
do
2,999,000
84 1866 500 &c.
2d mortgage........................................
do
ao
J. & J.
7
1,000
284,000
Convertible bonds............................. .
do
do
A. & 0.
1,000
4,991,000
7
34 1871
do
do
J. & D.
5,994,000
7
1,000
137 1875
c
7
Special real estate mortgage.............................
1,000 | 3,245,000 {
4 ^ J. & J. N. Y., Del. Lack. & W.
. . . . . 1882
Real estate terminal mort. (guar. D. L. & W ).
«suing income bonds for overdue coupons. The company afterward
offered to exchange these for the new 5 per cent mortgage bonds, and up
to June 1,1883, only small amounts remained outstanding. There are
also $73,090 of old income 8 per cents of Cairo & Fulton. The Mercan­
tile Trust Co. of N. Y. is trustee of the general consol, mortgage. The
stock is all held in the treasury of the Missouri Pacific Railway Co.,
baying been retired-in May, 1881, by the issue of three shares of Mo.
Pac. stock for four of St. Louis & Iron Mountain. The sales of land m
Arkansas on which the Cairo & Fulton, bonds have a lien are given in
the report for 1882. in tabular form only without details.
Toe report for 1882 was published in the C hronicle, Y. 36, p.422,
and the income account for 188 2 was as follows:
8T. L. IRON MOUNTAIN & SOUTH. RAILWAY—INCOME ACCOUNT—1832.
Accrued interest on bonds.................. .................. ................... $2,248,978
T a x e s.........................................................................................94,168
Sundry amounts—
_
,
Car trust expense............. ......................... —............ $76,b82
Baring cross bridge expense...,................................ 53,699
Interest and exchange...............................................- .64,942
Discount, Government deductions, &e..................... 209,869— 40o,194
Balanceot income account Jan. 1, 1883................................
1,199,792
Surplus earnings 1832............... .................................. - ...........
Dividends received, & c.......... .................................- ......... .
Unclaimed wages a m vouchers canceled, &c............. .
Balance of income account Dec. 31,1882....................... .

$3,948,434
$3,735,620
49,2b4
53,628
109,921

$3,943,434
—(V. 35, p. 77, 104, 182, 312, 347, 637, 737; Y. 36, p. 139, 312, 313,
4 2 2 , 479, 511.)
m o b i l e & A la b a m a G rand. T r u n k ;.—Owns from Mobile, Ala.,
to Bigbee Bridge, 56 miles. The company has been in default, and
was sold in foreclosure May 7, 1883, to a committee of bondholders.
The plan proposed for the issue of new stock and bonds was
given at length in the Chronicle, V. 32, p. 636, but the modified plan
proposes to give $420 in new mortgage bonds, $300 in incomes, and
$480 in stock for each $1,000 of old bonds, on payment of $120 cash
by holders. Old stockholders to receive 50 per cent in new stock.
—<V. 36, p. 221, 340, 536.)
m o b il e & G ir a r d .—Owns from Columbus, Ga., to Troy, Ala., 84
miles. Common stock, $987,164; preferred stock, $279,900, and $5,080
Pike County stock. Second mortgage bonds are endorsed by Central
RR. of Georgia. There are also $19,000 3d mort. 6 per cent bonds, due
June 1,1897. Iu 1881-82, gross, $269,011; net, $59,443. In 1882-83
gross earnings, $255,756; net, $77,455. (V. 35. p. 431; V. 37, p. 22.)
m o b il e & M o n t g o m e r y . — Owns from Montgomery, Ala., to
Mobile, Ala., 180 miles. Default was made on the bonds in 1873 and
the road was sold in foreclosure Nov. 16,1874, and purchased by bond­
holders, who organized this company on a stock basis, in Nov., 1879,
$1 ,550,000 of the stock owned in this country was purchased by parties
in the interest of the Louisv. & Nashv. RR. at 80, giving the control to
that company, which now operates it. The old mortgage debt outstand­
ing is about $230,000. The Louisville & Nashville Co. has issued
$2,677,000 bonds secured on this road, which are pledged for the collat­
eral trust bonds of that company. Gross earnings in 1880-81, $951,051;
net, $226,193; gross in 1881-82, $987,534; net, $264,377. Josiah
Morris, President, Montgomery, Ala.
m o b il e & O h io .—Owns from Mobile, Ala., to Columbus Ky., 472
miles, and extension (by Kentucky & Tenu. RR.) to Cairo, 21 miles;
branches—Artesia, Miss.,to Columbus, Miss., 14 miles; Artesia, Miss.,
to Starkville, Miss., 11 miles; Muldon, Miss., to Aberdeen, Miss., 9 miles;
total operated, 528 miles.
The company funded coupons from their bonds in Feb., 1867, and
resumed payment of interest*May, 1870. A default was made May 1,
1874, and two trustees and receivers took possession May 8, 1875,
and the company was reorganized without foreclosure, and the stock
and bonds of the company were placed on the. New York Stock
Exchange list in July, 1879: First.—New mortgage to the Farmers'
Loan & Trust Co., of New York, as trustees, upon the main line, exeluding
branches, to secure bonds in the aggregate amounting to $7.000,000.
Second.—Deed of trust to the Farmers’ Loan & Trust Co., as trustees, to
secure four series of preferred income and sinking fund debentures,
covering specifically, the lands, 1,150,000 acres. Interest at the
rate o f '7 per cent per annum, or iu multiples of 1 per cert, but
not exceeding 7 per cent in any one year on these debentures,
Is payable annually upon each series in the order of their priority,
but- only if earned in the preceding fiscal year, and is non-cumulative. The holders of debentures have one vote for each $100, and each
year they instruct the Farmers’ L. & T. Co., trustees >>«vr to vote at
- the stockholders’ meetings upon the majority of the stock of the Mobile &
Ohio Railroad Company, the power to vote upon which is irrevocably
with the Farmers’ Loan & Trust Company, until the extinguishment
of said debentures. The capital stock authorized by the charter is
$10,000,000, or 100,000 shares of $100 each, of which there have been
issued 53,206 shares. The debentures are secured by a deed of trust of the
land, about 1,143,222 acres, and receive 7 per cent, if earned.




M a y l, 1897
June 1, 1895
June T, 1897
Jan. 1, 1891
April 1, 1931
April 1, 1931
July 1. 1910
•Taw., 1889
June. 1897
(?)
Dec. 1, 1927
1 only by
j sinking fund.
July 1, 1892
July 1, 1909
(?)
April 1, 1918
July 1, 1920
July 2, 1883
May 1, 1914
Aug. 1, 1891
Jan. 1, 1900
Oct., 1901
June 1,1915
July 1, 1912

The Cairo Extension bonds may be redeemed before maturity any
January 1 or July 1 at 110, six week’s notice being given.
In August, 1881, 7 per cent was declared on 1st preferred incomes;
also 2 per cent on 2d incomes. In August, 1882, 2 per cent on the
first preferred incomes. In August, 1883, 3 per cent on first preferred'.
The last report was published in the Chronicle, V. 37, p, 423, and
had the following remarks: “ Beyond the current expenses for the
month of June, which are payable on or before the 15th of the next suc­
ceeding month, the only floating indebtedness appears in bills payable,
and results from the company having assumed the advance of $100,000,
incurred in the completion of the Kentucky & Tennes e i RR. (Cairo
extension). * * * There has been an increase in revenue over l ist ye: r of
4-93 per cent, or $106,784, and an increase in expenses of 2 4 “ per cent,
or $38,879, and in net revenue there has been an increase of 12'o8 per
cent, or $67,904.” * * *
“ The total number of bales of cotton moved during the year was
239.974, against 232,320 bales -moved the preceding year. The general
or total tonnage over the rqad for the year amounted to 357,493-4,
against 345,754-7 tons moved during the past year.” * * *
“ Since July 1 the receipts up to the present time (Oct. 1, 1883,)
show a healthy increase over those of the previous year, while the ex­
penses have been somewhat reduced, and while the prospects of the
cotton crop are yet doubtful, and not up to the average of former years,
the general business of the country tributary to and passing over the
road is exceptionally good.”
Operations for three years ending June 30 w ere:
1880-81.
1881-82.
1882-83.
Total gross earnings-.................... $2,377,817 $2,164,274 $2,271,058
1,562,486 1,602,145
1,642,631
Operating e x p e n s e s ..................
Net earn ings...,........... .-.
Disbursements—
Interest on mortgage bonds.
Interest on incom es.............

$815,331

$562,129

$628,406

$420,000
408,000

$456,000
106,000

$456,000
159,000

$562,000
$615,000
Total disbursements...............
$828,000
Sur. 129 Sur.$13,406
Balance...........................................Def.$l2,669
—(V. 35, p. 10,1 4 2 9 ; V. 36, p. 108; V. 3 7 ,p. 48, 4 2 3 .)

Montgomery & Eufaula. —Montgomery to Eufaula, Ala., 80
miles. Tne road was foreclosed May 1,1879, bought by W. M. Wadley,
and the present companv organized.
Operated under contract by
Cent. RR. of Georgia. Stock is $620,000. Gross earnihgs year ending
June 30, 1882, $355,681; net, $118,968. Dividend of 10 per cent paid
in April, 1883.
M o n t p e lie r & W e ll s R i v e r . —Owns from Montpelier to Wells
River, Vt., 38 miles. Reorganized January, 1877. D, R. Sortwell,
President, East Cambridge, Mass. Gross earnings for year ending
March 31,1883, $98,286; 'deficit, $15,891.
Morgan’ s Louisiana & Texas Railroad & Steamship Co.—

Owns from New Orleans to -Vermillionville, La., 144 miles; Vermillionville to Alexandria, La., 84 miles; other branches, 38;
miles; total. 266 miles. In February, 1883, the whole stock of
$5,000,000 was sold to the Southern Pacific Syndicate as reported
at 150 per share of $100. (See V. 36, p. 212.) This company’s
statement to the New York Stock Exchange said: “ The company’s
property consists of sixteen iron steamships, five 6f which ply be­
tween New York and New Orleans, nine between Morgan City, La.,
and the various Texas and Mexican ports, and two between New
Orleans, Florida and Havana ports; also four large ferry boats, tugs,
dredge boats, wharves .warehouses, and terminal facilities, besides nearly
the entire capital stock of the Gulf Western & Pacific Railroad, Texas
Transportation Railway Co., Buffalo Bayou Ship Channel Co., and a
majority interest in the capital stock of the Houston & Texas Central
Railway Co., &c.” Gross earnings in 1881-82,$4,188,622; surplus over
expenses, interest, <&c , $722,4o0; in 1882-83, gross, $3,953,145; sur­
plus, $1,106,327. (V. 35, p. 51; V. 36, p. 196, 212.)

Morris & Essex.—Owns from Hoboken, N. J „ to PkiUipsburg,
N. J., 84 miles; branch, Denville, N. J., via Morris & Essex Tunnel, to
Hoboken, N. J., 34 miles; leased Dover to Chester, 10 m iles; Newark &
Bloom. RR., 4 miles; total operated, 132 miles. In 1868 this road
was leased in perpetuity to the Del. Lack. & W. RR. The lessees assume
all liabilities of the Mor. & Essex RR. and pay 7 per cent per annum On
the capital stock, and they also agreed to pay 8 per cent in case the
Morris & Essex earns 10 per cent on its stock m any one year after the
year 1874. The Morris & Essex is important to the Delaware Lacka­
wanna & Western as a route with terminal facilities on New York Har­
bor, but the actual earnings on the road show a large annual deficit for
the lessee company after the payment of rental. The loss to lessee was
in 1880, $1,012,416; in 1881, $985,890; in 1882,$941,550. Earnings for
four years past were as follow s:
Gross
Net
Div’d
Years.
Miles.
Earnings,
Earnings, p. ct.
1879 ............................ 121
$3,515,097
$1,559,354
7
1880 . . . . . . . . . ____ . . . 121
3,823,652
1.446,193
7
1881
............... .
121
4,246,656
11647,019
1882 ..................... .
p .;
4,262,901
1,630,960
—(V. 36, p. 611.)

O c t o b e r , 1 8 83. [

RAILROAD STOCKS AÍTD BOKDS.

a tt

S u b s c r ib e r s w i l l c o n f e r a g r e a t f a v o r l>y g i v i n g im m e d ia t e n o t ic e o f a n y e r r o r d is c o v e r e d in . th e s e T a b le s .
DESCRIPTION.
on first page of tables.
Nashua <£ Lowell—Stock.............................
Bonds ($100,000 are gold 5s, J. & J., 190<
Nashville Chattanooga <£ St. Louis—Stock.
Bonds endorsed by Tenn...........................
1st mort, (for $6,800,000), c o u p .......... .
2d m ort........ ...................................... .
Bonds field by U. 8. Government.............
do
do 1st mort. on Lebanon Brand
do
do for Jasper B randt... .
Luck River RR., 2d mort., endorsed ....................
Nashville & Decatur—Stock, guar’d 6 p. c. by L. & N
1st mort. guar. s. f .................... ....... .....................
2d mortgage, income........................................ .......
Natchez Jackson d Columbus.—1st mortgage...........
Mortgage bonds (for $600.000)............... ...............
Naugatuck—Stock........................................................
Nesquehoning Valley—Stock.................. ....................
Nevada Central—1st mort., gold (sink, f., $20,000)
Newark d Hudson—1st mortgage...............................
Newark Somerset d Straitsv., O.—1st m ortgage.. . . .
NewburgDutchess d Connecticut—Income bonds...
Newburgd New York—1st m ortgage.................... ,.
New Castle d Beaver Valley—S t o c k ........................
New Haven d Derby—1st & 2d mortgages................
New Haven & Northampton—S t o c k .........................
Mortgage bonds, cou p on ........................................
Holyoke & W.,leased, 1st M.($200,000 guar.)........
Codsol. sink, fund $15,000 per yr.;&mort. fionds.
Northern Extension............................................... .

Bonds—Prinei
INTEREST OR DIVIDENDS.
- Miles Date Size, or
pal, When due.
Amount Rate peí When
of
of
Par
Where
Payable,
and
by
Stocks—Last
Road. Bonds Value. Outstanding J Cent. Payable
Whom.
Dividend.
54
554
151
340
321
88
30
7*2
48
122
119
119
99
....
66
18
94
5
44

’73-’80
1857
1873
1881
1877
1877
1877
.....
.V..
1870
1867
....

Ï879
1871
1869

12 1863
15
13 68&70
170
92 1869
17 1870
1879
27 1881

$100
....
25
1,000
1,000
1,000

. $300,000 I
M. & N
Boston & Nashua.
4
Nov. 1. 1883
300,000 6 & 5 g. F. & A. Bost., Chas. B. Brooks. 1893 & 1900
6,670,331
2
A. & 0. New York &. Nashville Oct. 1, 1883
126,000
6
J. & J. N.Y.,Metropolita N.Bk. 1881 to 1886
6,170,000
7
J. & J.
do
do
July 1, 1913
1,000,000
6
J. & J.
do
do
July 1, 1901
4
500,000
July 1, 1891
1,000
398,000
6
J. & J.
do
do
Jan. 1. 1917
1,000
300,000
6
J. & J.
do
do
Jan. 1, 1917
1,000
173,000
6 & 8 J. & J.
do
do
1907 & 1923
65,000
6
M. & N.
Nov. 1, 1909
1,642,557
3
J. & D.
Nashville.
June 3, 1883
1,000
1,817,000
7
J. & J. N. Y., Drexel, M. & Co. July 1, 1900
500
178,000
6 g. A. & O. Nashv., 4th Nat. Bank. Oct. 1,1887
.... x
174,400
10
N.Y., Bank of America.
1885
27,500
7
iöo 2,000,000
5
J. & J.
Bridgeport, Conn.
50
1,300.000
3*2 M. & S. Philadelphia, Co.’s office Sept. 1. 1883
1,000
750,000
6 g. A. & O. N. Y., 195 Broadway. Oct. 1, 1904
1,000
250,000
7
M. & S.
N. Y. L. E. & W. RR.
Sept., 1901
500 &c.
800,000
7 g. M. & N. N. Y., Union Trust Co. Nov. 1, 1889
1,164,500
1,000
250,000
7
J. & J. N.Y.,OfficeN.Ÿ.L.E &W( J a n .1, 1889
50 700,000
Newcastle, Penn.
Q.—J.
(!)
Oct., 1883
500 &c.
525,000
7
Various N. Haven, Mech. Bank. 1888 & 1900
- 100
2,460,000
3
New Haven.
Oct., 1873
1,000
1,300,000
7
J. & J.
do
Jan., 1899
1,000
260,000
6 & 7 A. & O. ST.Hav.,N.Ti‘adesm’s Bk A
1,000
1,200,000
A. & O.
6
New Haven.
A
1,000
700,000
5
A. & O.
do
April, 1911

N a s h u a & L o w e l l . —Owns from Lowell, Mass., to Nashua, N. H .’ - ( V . 35, p. 96, 212. 321, 318. 3 7 1 , 456, 517, 576, 603. 737; Y. 36, p.
JL5 miles; leased—Stony Brook Railroad, 13 miles; Wilton Railroad, 81, 221, 340, 366, 454, 561,675; V. 37, p. 75, 175, 293, 3 2 1 , 374.)
16 miles; Peterborough RR., 10 miles; total operated, 54 miles.
The road was operated with the Boston & Lowell till Oct. 1,1878. On
N a s h v ille & D e c a t u r .—Owns from Nashville, Tenn., to Decatur,
October 1,1880, a lease for 100 years to the Boston & Lowell was Ala., 122 miles. The road was leased May 4, 1871, to the Louisv. &
made. The company holds $300,000 cash assets against the debt. The Nashv. RR. for 30 years from July 1,1872, at a rental of 6 per cent per
rental is $60,000 per year, equal to 7*2 per cent on stock, but, including annum on the stock. The lessee assumed all the debt of the Nashville
other revenue, dividends are 8 per cent.
& Decatur Co. In 1882-83, g p s s earnings, $1,034,231 ; net, $380,207,
N a s h v ille C h a t t a n o o g a & St. L o u i s . —Owns from Chattanooga,
N a tc h e z J a c k s o n & C o lu m b u s . -O w ns completed road from
Tenn., to Hickman, Ky., 321 miles; branches—Wartrace, Tenn.; to
Shelbyville,. Tenn., 8 miles; Bridgeport, Ala., to Inman, Tenn., 25 Natchez, Miss., to Jackson, Miss., 100 miles. Stock, $614,809. See
report,
V. 36, p. 426. as to new issue of fionds. Earnings for 1882.
miles; proprietary lines—Nashv. to Lebanon, 30 miles; Tullahoma to
Caney Fork, 48 miles; Decherd to Fayettev., 40 miles; Centreville $104,188; net, $46,417. (V. 35, p. 71, 339, 348, 487; V. 36, p.: 313,
4
2
6
.)
Branch, 34 miles; Duck River RR. (leased), 48 miles ; total, 554 miles.
The the bonds endorsed by Tennessee are secured by deposit in trust of - N a u g a t u c k .—Owns from Naugatuck Junction to Winsted, Conn.,
this company’s first mart, bonds.
A majority-of the stock ,($3,385,000) is. owned by the Louisville & 5 6 ^ miles; leased, Watertown & Waterbury RR., 4*2 milesf total oper­
Nashville RR. Company and pledged among the collaterals for the ated, 66 miles, 5 miles of New York New Haven & Hartford being used
trust loan of that company. This company owns $75,000 of the Duck between Naugatuck Junction and Bridgeport. Has no bonded or floating
Operations and earnings for three years past were as follows :
River RR. 2d mortgage endorsed bonds. In addition to above bonds debt.
1879-80, gross earnings, $592,151; net. $242,063 ; 1880-81, gross.
there are $25,00o Centrevfille Branch bonds out.
$614,410;
net, $201,390 ; 1881-82, gross, $714,898,- net,-$223,784.
The annual report for 1882-3 was published in the C h r o n i c l e , V . 37,
p. 321 and 374, and had the follow ing: “ While the sharp competition —(V. 35, p. 574.)
of lines and the operating of new railroads has divided the tonnage and
N e s q u e h o n in g V a lle y .—Owns from Nesquehoning June don, Pa.,
decreased the through business, it is gratifying to observe a large and to Tamenend, Pa., 17 miles; Tunnel.Branch, Hauto, Pa., to Lansford, ;
gradual increase in the local traffic, which it is expected will continue, Pa., 1 mile; total operated, 18 miles. Opened in 1870, and was leased
and thus render your road comparatively independent of the through for 999 years to th6 Lehigfi Coal & Navigation Co.'at a lease rental of
traffic, which often has to be carried at non-remunerative rates. The $130,000 per annum, but with an option for the lessees to terminate it
local freights upon the tw o divisions of the main line for the past two after 1878. In 1879 the lease was modified so as to pay 7 per cent a
years were : year only, and the option to terminate was suspended till Sept. 1,1884.
1882-83.
1881-82.
Increase.
N e v a d a C e n tr a l.—Owns from Battle Mountain to Ledlie, Nev.. 86
$455,933
$109,713
Chattanooga Division ...............$565,651
Northwestern Division .......... 164,596
94,164
70,432 miles; branch, Ledlie,Nev., to, Austin, Nev., 7 miles; total. 93 miles.
Stock, $1,000,000. There are $250,000 8 per cent income bonds due
Total..... ...............................$ 73 0 ,2 4 7
$550,097
$180,150 1930, Which are held by the Union Pacific, as «Iso $912,500 of tfie stock.
“ This increase has been attained partially by the encouragement of Gross earnings, 1882, $110,440; net, $13,731.
the location of blast furnaces, mills and factories along the fine and at
N e w a r k & H u d s o n .—Owns from Bergen Junction to Newark,
Nashville, but most of the increase may be accounted for by the bounti­ N. J., 6 miles. Leased to New York Lake Erie & Westerp at a rental
ful crops of 1882 throughout the country traversed by your road.”
of $33,000 per annum, which pays interest on bonds and 7 per oent
Income and expenditures for four years ending June 3Ó were as follows on the stock of $250,000. Cortlandt Parker, President, Newark, N. J.
INCOME ACCOUNT.
N e w a r k S o m e r s e t & S t r a it s v ille .—Owns from Newark, O», to
1879-80.
1880-81.
1881-82.
1882-83. Shawnee, O., 44 miles. Road was completedin 1871. Leased to Sandusky
<g
$
$
Mansf. & Newark for 14 years from Jan. 1,1872. Operated by the Balt.
$
Gross earnings................ 2,099,155 2,255,186 2,074,583. 2,283,523 & Ohio, which pays 30 per cent .of gross earnings, and advances any
Net Receipts—
additional amount necessary to meet the interest on the debt. Capital
Net earnings.....................
914,407
878,009
833,592 1,008,668 stock, common, $795,400, and preferred, $218,200. Gross earnings in
Bonds sold, &o.........
1,000,175
39,006
77,247 1880-81, $177,304;- net, $41,548; deficit to lessee, $14,451. I n l8 8 l-2 ,
gross, $188,937; net, $13,078; deficit to lessee, $32,921.
Total in com e..........
914,407 1,878,184
872,598 1,085,915
Disbursements—
N e w b u r g D u t c h e s s <fc C o n n e c t ic u t .—Owns from Dutchess June.,
$
$
$
$
Interest on debt & taxes.
475,320
541)514
583,577
650,972 N. Y., to Millerton, N. Y., 59 miles. The Dutchess & Col. RR. was sold
Aug. 5.1876, and this company was organized Jan. 8,1877, by the pur­
Dividends............. . : .........
232,020
300,164
Extensions.......................
chasing bondholders. In addition to above incomes, there are $150,000
51,605
212,432
1st mort. 7s. due in 1907. In 1880-81, gross earnings $160,649;
New equipment, &c.........
110,560
186,041
359,551]
Improvement of tra ck ...
deficit, $11,865. In 1881-82, gross, $184,990; deficit, $3,126. The com­
352,316
J.04,465 mon stock is $172,000 and preferred stock $715,350. John S. Schultze,
Real estate........................
25,621
40,098
President, Moore’s Mills, N, Y.
Other improvements.___
26,144
248,031.
N. West. Div. improvem’t
195,798
N e w b u r g & N e w Y o r k . —Owns from Yail’s Gate Junction to
Miscellaneous..................
50,93 L
Greenwood Junction, N. Y., 13 miles. Leased October 5,1866, to Erie
RR..
at $17,500 per annum, and operated now by New York Lake Erie
Total disbursements.
923,436
975,118 2,096,169
755,437 & Western.
Balance, surp. or deficit. def. 9,029 sur903,066 *1,223,571 sur 330,478
N e w C a stle & B e a v e r V a lle y .—Owns from Homewood, Pa., to
New Castle, Pa., 15 miles. Road in operation since 1860. Leased to
Deficit.
Pittsb.
Ft. W. & Chic. RR. for 99 years at a rental of 40 per cent on gross
GENERAL BALANCE AT END OF EACH FISCAL YE AR .
earnings. Lease transferred to Pennsylvania Company. There is no debt.
1879-80.1 1880-81. - 1881-82.
1882-83. In 1879,13 per cent dividends were paid; in 1880,13 p. c . ; in 1881. 24
A
^
^
tjj
$
p. c.; in 1882,14 p.e. Gross earnings in 1881, $331,527; rental received,
Road and ofitflt................ 14,360,899 14,932,355 15,711,4^9 16,194,823 $132,611; gross in 1882, $365,493; rental received, $146,197.
Assets not available.......
178,593
192,024
439,353 -352,876
N e w H a v e n & D e r b y .—Owns from New Haven, Conn., to Ansonia,
Inv’tm’ts in st’ks & bonds
419,656
366,450
386,040 472,590
Bills receivable.................
30,236
26,483
7,187
8,387 Conn., 13 miles. Capital stock is $447,100. New Haven City guaran­
Real estate.................
93,875
93,875
84,246
84,«64 tees the $225,000 second mortgage bonds. Gross earnings in 1880-81,
Due from agents, &c.......
129,249
80,428
121,946
196,988 $147,564; net, $48,268; in 1881-82, gross, $166,402; net, $78,389.
C a s h ....,.................
303,161
418,596
416,536 325,006 - ( V . 35, p. 544.)
N e w H a v e n & N o r t h a m p t o n .—Operated from New Haven,
T o ta l................
15,515,673 16,210,211 17,166,797 17,635,534 Conn.,
to North Adams, Mass., 123 miles; branches—Northampton to
Liabilities—
$
$
$
$
Capital stock.................... 6,848,899 6,670,331 6,670,331 6,670,331 Williamsburg, 8 miles ; t arming ton Conn., to New Hartford,Conn., 14
miles
;
South
Deerfield to Turner’s Falls, 10 miles ; to Tariffyille, Conn.,
Bonded debt........ ......... 14,360,899 8,147,000. 8,649,000 8,757,000
1 mile; leased—Holyoke & Westfield RR.,' 14 miles; total, 170 miles,
Profit and loss.................
206,178
542,675
513,395
948,167 in
April,
1881,
a controlling interest in the stock was sold to New York
Bills payable.............. ......
404,222
247,081
659,688
597,132 New Haven & Hartford parties. Operations and earnings for three
Bal’ce due individ’ls, &c.
34,534
83,481
102,494
140,327 past were as follows :
Int’st coupons due July 1
212,315
271,305
279,610
283,740
Dividends............; ............
Passenger Freight (ton)
Gross
Net
14,248
13,981
63,014
15,082
Pay-rolls, &c........... .........
Miles.
Mileage.
Mileage,
Earnings. Earnings.
53,034
80,757
75,665
66,256 Years.
Int’st on b’ds held by U. 8.
153,600
153,600
153,600
153,600 1879r-80........ 144
5,644,750
16,365,182 $694,506 $276,287
Miscellaneous...................
76,639
3,899 1 8 8 0 -8 1 ........ 144
5,612,006
18,705,865
751,614
298,137
188L -82^....................
8,726,851 24,800,865
896,270
333,487
Total
15,515,673 16,210,211 17,166,797 17,635,534 —(V. 34, p. 2 0 2 ; V. 36, p. 80.)




54

RAILROAD

STOCKS

AND

BONDS.

[Vol.

XXXVII.

Subscribers w ill confer a great favor by giving Immediate notice o f any error discovered In these Tables*
Bonds—Princi­
INTEREST OR DIVIDENDS.
DESCRIPTION.
pal,When Due.
Miles Date Size, or
Amount Rate per When Where Payable, and by Stocks—Last
Par Outstanding
For explanation o f column Headings, &c., see notes of
of
Dividend.
Whom.
Payable
Cent.
on first page of tables.
Road. Bonds Value.

New Jersey A New York—1st mort, (reorganization)
N. J. Southern—1st mort.’ (int. guar, by N.Y.& L.B.)
Long Branch <fe Sea Shore, 1st mort., guar............
New London Northern—Stock............. ......... .........
1st mortgage bonds.................................................
2d mortgage.............................................................
Consol, mortgage (for $1,500,000).........................
N. F. A Canada—1st M., sterling, guar. D.& H. Can.
New York Central A Hudson Hiver—Stock.......... .
Premium bonds (N. Y. Central) ext. 10 y ’rs, ’83..
Renewal bonds.................................. ......................
2d mortgage, sinking fund (Hudson River)............
New mortgage j ^ J^ ooo’ooo } couPon or re#- {
N. Y. Chicago A St. L,—Stock ($22,000,000 is pref.)
1st mortgage, gold (for $15,000,000) coup, or reg.
2 d m ortgage........ .................................. .................
Equip, bonds (principal payable $400,000 yearly)
N. Y. City A Northern—General m ort........................
2d mortgage, for $2,000,000.................. ................
New York A Greenwood Lake.—1st mort., income ..
2d mort., income.......................................................
New York A Harlem—Common stock........... - ___ ...
Preferred stock................................ ............. ..........
Consol, mort., coup, or reg., (for $12,000,000) —
1st mortgage, coupon,'may be registered..
2d mortgage, guaranteed (for $5,000,000).

30
78
100
100
100
121
113
993

840
840
513
513
62
40
132
132
132
211
200
200

$275,000
1880 $500&c.
600
1,449,600
1879
1,000
200,000
1869
100
1,500,000
300,000
1865 100&C.
387,500
1872 500 &o.
1,000
812,000
1880
4.000,000
1874 £100<fcc
100 89,428,300
6,632,300
1853 500 &c.
2,391,000
1,000
1854
1,422,900
1,000 27,465,000
1873
9,733,333
1,000
1873
100 50,000,000
15,000,000
1,000
1881
1,000 10,000,000
1883
4,000,000
1,000
1882
3,697,000
1880 500 &c.
t1881
CD
900,000
1875 100 &c.
1,800,000
100 &c.
8,500,000
* 50
50
1,500,000
1,000 11,100,000
1872
100 10,000,000
1,000 12,000,000
1880
3,000,000
1,000
1883

1910
July 15, 1899
Dec. 1, 1899
Oct. 2.1883
Sept., 1885
July, 1892
July, 1910
May 1.1904
Oct. 15.1883
May 1,1893
Dec. 15,1887
June, 1885
Jan. 1, 1903
Jan." 1, 1903

6
6
7
1*2
6
7
5
6 g.
2
5
6
7
7
6 g.

M & N. N.Y., Mercantile Tr. Co.
J.* & J. N. Y., Cent.of N.J.Offlce
New York.
J. & D.
New London, Office.
Q.—J.
A. & O. N. Y., B’k of N. America
do
do
J. & D.
do
do
J. & J.
M. & N. London, Baring Bros.
Q .-J . N.Y., Gr. Central Depot.
do
do
M. & N.
do
do
J. & D.
do
do
J. & D.
do
do
J. & J.
London.
J. & J.

6 g.
6
7
6
6
7
7
4
4
7
1*4
6 g.
5

J. & D. N. Y.,Metrop’tanN. Bk. Dec. 1, 1921
M. & S- N.Y., Union Trust Co. Mar. 1, 1923
J. & J. N. Y., Metrop’tan N. Bk. -1885 to ’94
M. & N. N. Y., Company’s Office. May 1, 1910
1911
F. & A. New York, Co.’s Office.
........
do
do
M. & S.
J. & J. N.Y., Gr. Central Depot. July 2, 1883
July 2, 1883
do
do
J. & J.
do
do
May, 1900
M. & N.
N.
Y.
by
D.
L.
&
W.
Oct. 1, 1883
Q.—J.
Jan. 1, 1921
New York Agency.
J. & J.
1923

N e w J e r s e y & N e w Y o r h . —Owns from Hackensack, N. J., to depression after 1873, when for a time the Pennsylvania Railroad and
Stony Point, N. Y., 25 miles; leased, Nanuet & New City RR. 6 miles; Baltimore & Ohio had suspended cash dividend, this company still paid
Hackensack RR., 6 miles; total operated, 37 miles. Organized Sept. 4, 8 per cent a year by means of its rich local traffic and small liability
1874, by consolidation of the Hackensack & New York RR. and the for rentals or interest. The operating expenses have varied widely in
Hackensack & N. Y. Extension Railroad; Receiver appointed in 1877. different years, and the profits depend very much upon harmony among
and the two roads were separately foreclosed. The present company was the trunk lines and maintenance of rates. In the fiscal year 1881-82
formed on reorganization in April, 1880. Stock, $2,000,000 common, the profits were insufficient to pay the 8 per cent dividends, and the
$800,000 preferred. Gross earnings-in 1880-81. $198,410; net, deficit was $1,401,608; but the dividends were kept up on the ground
$21,790. In 1881-82, gross earnings, $220,809; net, $35,003. Y. L. that a surplus in other years warranted it. The large decline in the
stock in 1883 was partly owing to general depression, but more to the
Lary, President, Jersey City.
N e w J e r s e y S o u t h e r n .—The road extends from Port Monmouth, fact that the New York West Shore & Buffalo road, as a closely parallel
line
from New York to Buffalo, threatened to compete sharply for both
Sandy Hook, to Atco, 70 miles,.with branch fromEatontown to Pt. Mon­ through
and local business.
mouth, 9 miles. The property was sold in foreclosure March 3 1 ,187 9 (see
The
fiscal year ends September 30, but the company publishes no
C h ronicle , V. 28, p. 352), and the present company was organized July
annual reports except an abstract of the figures furnished to the New
2 5 , 1879. The capital stock is $1,590,600. The property is subject to York
State Engineer.
$120,000 on the Tom’s River RR. and $200,000 on the Long Branch &
A n n u a l reportfor 1881-2 was published in the C h r o n i c l e , V. 35, p. 73
Sea Shore . Railroad. This latter bond is endorsed by the .United
REVENUE ACCOUNTS— 1878 TO 1882—FIVE TEARS.
Companies of New Jersey. The above mortgage is for $1,590,600, of
Net Income, Diviwhich $1,449,600 have interest guaranteed by the New York & Long Year
Gross
over exp., dends,
Branch Railroad by endorsement of the bonds, and the Central of New ending Passenger Freight (ton)
Sep.
30.
Mileage.
Mileage.
Receipts.
int.& rents, p. c. Surplus.
Jersey agreed to assume those bonds. The road is now operated as a
1878.300,302,140 2,042,755,132 $2$,910,555 $»,038,445 8 $898,917
part of the Central New Jersey system.
28,396,583 7,594,485 8
454,95T
N e w L o n d o n N o r t h e r n .—Owns from New London, Conn., to 1879.290,953,253 2,295,825,387
2,525,139,145
33,175,91310,569,219 8 3,427,73®
Brattleboro, Vt., 121 miles, of which 100 miles leased to J. G. Smith and 1880.330,802,223
1881.373,768,980
2,646,814,098
32,348,395
7,892.827
8
754,484
others. This road has been operated since Dec. 1,1871, under lease to
30,628,781 5,743,904 8 *1,401,608the Central Vermont Railroad; the lease was for 20 years at $150,000 1882.432,243,282 2,394,799,310
* Deficit.
per year, and $15,000 for each additional $100,0('0 of earnings over
$510,000 per year. Consolidated mortgage bonds issued to retire all - (V . 35, p. 545, 720, 7 3 4 ; V. 36, p. 286, 340, 536; V. 37, p. 48.)
other funded and floating debt and to pay for branch recently pur­
N e w Y o r k C h ic a g o Sc St. L o u i s .—Buffalo, N. Y., to Grand
chased from Vermont & Massachusetts RR. Operations and earnings Crossing, 111., 514 miles; Grand Crossing to Chicago (leased), 7
for four years past were as follows, and in 1881-82 the expenses include miles; total, 521 miles. This company was formed in 1881, and
$94,000 expended for steel rails:
became familiarly known as the “ Nickel Plate.” Of the stock
Passenger Freight (ton)
Gross
Net
Div $22,000,000 is preferred 6 per cent. The “ subscriptions” to the bonds
Miles.
Mileage.
Mileage.
Earnings. Income. p.c. of the company were on the basis of $13,333 cash, for which were
Years.
3,927,511
12,637,957 $470,102 $159,484
6
1878-9.. .. 100
given $10,000 in 1st mortgage bonds, 200 shares of preferred and 200
18,975,296
591,346
6
6,144,189
179,030
1879-80 . 100
shares of common stock, making $50,000 in all. In Oct., 1882, the sale
6,415,412
19,318,243
611,043
6
197,717
1880-81... 100
of a majority of the stock to a syndicate took place, including 124,800
20,421,443
587,384
68,072
6
1881-82 ...ICO
7,207,081
shares of common stock and 140,500 preferred, at the respective prices
N e w Y o r k Sc C a n a d a .—Owns from Whitehall, N. Y ., to Rouse’s (as reported) of 17 and 37. The Lake Shore & Mich. So. purchased it, and
Point, N. Y., 113 miles; branches: Ticonderoga, N. Y., to Lake George, in 1883 $6,500,000 Lake Shore consol, bonds were issued to pay for
N. Y., 4 miles; Plattsburg, N. Y., to Ausable, N. Y., 20 miles; West the stock, which is held by the Lake Shore & Michigan Southern Co.
Chazy to Province line, 13 miles; total operated, 150 miles. The whole The annual interest charge, including that on the second mortgage, is
line was completed Sept. 18,1876. The road is leased and virtually $1,780,000. The first returns ever made were to June 30,1883, and for
owned by the Delaware & Hudson Canal Company, which guarantees the the nine months, Oct., 1882, to July 1, 1883, gross earnings w ere
bonds. The stock is $4,000,000. Earnings in 1880-81 were $654,519; *1,045,516, net, $149,974. (V. 35, p. 23,236, 249, 265, 266, 405, 479
„
net, $217,414; deficit to lessee, $15,517. In 1881-82, gross earnings, 437, 517, 546, 576, 658; V. 36, p. 140,312, 427, 731; V. 37, p. 23.)
$765,556; net. $195,131; loss to lessees, $41,303.
New Y ork C ity & Northern. —Owns from 157th Street in 8th
N e w Y o r h C e n tr a l Sc H u d s o n .—L i n e o f R o a d .—Owns from Avenue, New York City (connecting with Metropolitan Elevated), to
New York City to Buffalo, N. Y., 442 miles; branches on .New York Brewsters, N. Y., and branch, 54 miles. This company was organized
Central division, 298 miles; total owned, 748 miles; lines leased— March 1, 1878, and acquired the N.Y. West. & Putnam (formerly the
Troy & Greeenbush, 6 miles; Niagara Bridge & Canandaigua, 98 miles; N. Y. & Boston Railroad), sold in foreclosure March, 1876. The com­
Spuyten Duyvil & Port Morris, 6 miles; New York & Harlem, 127 miles; pany in May, 1880, leased the West Side & Yonkers road for 999 years,
Lake Mahopac, 7 miles; total, 245 miles; grand total, 993 miles. The and the consolidated mortgage was issued to take up all the other bonds,
second track owned is 508 miles; third track, 317 miles; fourth track, of which $274,000 under a prior mortgage were outstanding Nov. 1,
298 miles; turnouts, 539 miles—making a total of 2,657 miles of track 1881. Stock is $2,990,000. Default was made in interest due May 1,.
1882, and foreclosure is pending. See proposed plan of reorganization,
owned by the company.
O r g a n i z a t i o n , &c . -This company was formed by a cersolidation V. 36, p. 366, 690. Gross earnings in 1881-32, $237,664; net loss,
'o f the New York Central and the Hudson River railroads Gctobei $71,1111 (V. 35, p. 132, 321, 374; V. 36, p. 162, 366, 699; V. 37, p. 342. >
1,1869. The New York Central was a consolidation of seveial roads
New Y ork & Greenwood Lake.—Owns from Jersey City, N. J.
under a special law of April 2,1853. The Albany & Schenectady Rail­ to Greenwood Lake, 43 miles;. branches — Ringwood Junction toroad, opened September 12,1831, as the Mohawk & Hudson, was the Ringwood, 2 miles; North Newark to Orange, N. J., 8 miles; total, 58
first railroad built in the State of New York. The Hudson River Rail­ miles- This was the Montclair Railroad, opened in 1874. It was sold
road was chartered May 12,1846, and road opened'October, 1851. The and reorganized as Montclair & Greenwood Lake, and again sold
Athens Branch (Sar toga & Hudson River) was leased in Nov., 1881, October 12, 1878, and the present company organized. The New York
for 475 years to the New York West Shore & Buffalo, and the rental for Lake Erie & Western purchased a controlling interest in the property
whole period commuted for $400,000.
and now operate it. The holders of the second mortgage bonds have
S t o c k a n d B o n d s .— The famous scrip dividend of 80 per cent on the a right to pay off the first mortgage bonds of $900,000 at 105, and thus;
capital .stock of the New York Central was made in December, 1868, gain control of the property. The-stock is $100,000; advances due to
and On the consolidation with the Hudson River road (Nov. 1,1869) a the Erie $101,629; to Cooper & Hewitt $10,197. In 1881 the net deficit
further dividend of 27 per cent was distributed on the New York on operations was $44,003; net earnings in 1882 $20,411. Abram S,.
Central stock and 85 per cent on the Hudson River stock. In Nov­ Hewitt, President. (V. 36, p. 6 1 3 ; V. 37, p. 151.)
ember, 1879, 250,000 shares ($25,000,000) were sold to a syndicate
Y ork Sc H arlem .—Owns from New York City to Chatham.
o f bankers by Mr. W .H. Vanderbilt at the price of 120, and 100.000 N.New
miles. From Chatham to Albany, 24 miles, the Bost. & Alb.
shares more afterwards. Dividends of 8 per cent per annum has been RR.Y.,is127
used. This company owns 5*2 miles of street railroad—the
paid since 1868. Prices of stock since 1870 have been: In 1871, 84*4 Fourth Avenue
line. The property (except the horse railroad) was leased
®1035s; in 1872, 89®10178 ; in 1873, 7778®106*2; in 1874, 957s® April 1,1873, for
401 years, to the N. Y. Central & Hudson River RR..
1055«; in 1875,100® 107%; in 1876, 96® 117*2; in 1877, 85*4® 109*4; at a yearly rental from
the lessee of 8 per cent dividends on the stock and
1878-, 103%@115; in 1879, 112®139; in 1880, 122®15538; in 1881, the interest on the bonds.
The Fourth avenue horse railroad, together
130*4®155; in 1882, 1235s® 138; in 1883 to last Saturday, 112%® with valuable real estate, was
retained by this company, and extra
-129*8.
dividends
are
paid
out
of
the
therefrom annually in April. All
The mortgage for $40,000,000 was issued to lay the third and fourth operations of the main road receipts
are
included with those of the New York
tracks, with a sufficient balance retained by the company to retire all Central & Hudson.
» n o r bonds. The 6 per cent bonds falling due in 1883 were extended
N e w Y o r k L a c k a w a n n a Sc W e s t e r n .- From Binghamton to
lo r 10 years at 5 per cent.
O p e r a t i o n s , F i n a n c e s . &c.—The New York Central & Hudson River Buffalo and International Bridge, 211 miles, built under the auspices of
has been conspicuous in its operations among the trunk lines, and the Del. Lack. & West. Opened Oct., 1882, and leased to Del. Lack. & West,
policy of the company has differed from the others in some respects, for 99 years, with ajjuarantyof the bonds and 5 p. c. yearlv on the stock.
particularly in not branching out and taking leases o f lateral roads or The latter guaranty is written across tue face o f the certificates and signed:
extensions, but in placing a heavy outlay of capital on tlya main line by the D. L. & W. officials. (V. 35, p. 22.71, 95, 266, 373, 405; V. 36, p.
Jrom Buffalo to Albany for the four tracks. During the period of ono- V 37. T>. R«.l




October , 1883]

.RAILROAD

STOCKS

AND

BONDS.

5S

Subscribers w ill confer a great favor by giving Immediate notice o f any error discovered in these Tables.
DESCRIPTION.
Bonds—Princi-l
INTEREST OR DIVIDENDS.
Miles Date Size, or
pal, When Due.
Amount Rate per
For explanation of column headings, fee., see notes of
of
Par
When Where Payable, and by Stocks—Last
on first page of tables.
Road. Bonds. Yalue. Outstanding Cent. Payable
Whom.
Dividend.
1,060
Preferred stock..................... ..................................... 1,060
1st mortgage (extended in 1867 to 1897).............
2d mortgage, convertible (extended in 1879).......
■
4th mort., conv. (extended in 1880 at 5 per cent)
5th mortgage, convertible.......................................
Buffalo Branch Bonds...............................................
Long Dock Co, mortgage............t................. ...........
1st consolidated mortgage, gold..............................
do
do
funded coupon b on d s.
Reorganization 1st lien bonds, gold.......................
N. Y. L. E. & W-, 2d consol, mort., gold.................. ---•
do
income bonds (non-cum.)........... .
Trust bonds, with collaterals................... .........
New York, <6Long Branch—Stock.......................
38
Mortgage bonds............................... .
N. Y. <&N. England—Stock ($20,000.000 auth’rized) 380
1st mortgage, new ($6,000,000 are 7s)............
263
2d mortgage (for $5,000,000)...............
Car trust certiacates..........................
Debt for terminal property.......... .
New York New Raven <£ Hartford—Stock. .,
203
Mortgage bonds, reg. (for $5,000,000) .'................ 123
Harlem & Portchester, 3st mortgage guaranteed. t 12
do
do
2d mort., coup, or reg____
12
New York Ontario & Western—Preferred s to c k ...... 421
Common stock.......................... .......................
421

1847
1879
1853
1857
1858
1861
1863
1870
1878
1878
1878
1878
1882
188’2
1876
1882
3 882
1883
1873
1881

$100 $77,087,600
100
7,987,500
1,000
2,482,000
1,000
2,149,000
1,000
4,852,000
1,000
2,926,000
500 &c.
709,500
100 &c.
182,600
1,000
3,000,000
1,000 16.656,000
500 &c.
3,704,628
1.000
2,500,000
500 &c. 33,597,400
300 <&c.
508,008
....
5,000,009
2,000,000
1,500,000
16,502,000
1,000 10,000,000
1,000
3;000,000
•---1,400,000
1,300,000
Too 15,500,000
l,000&c
2,000,000
1,000
2,000,000
1,000
1,000,000
2,000,000
58,113,982

* 6‘
7
5g.
4*3
5 g.
7
7
7
7 g.
7 g.
6 g.
6 g.
6
6
"ö"
6&7
0
6
4
5
4
6 &7
4
12

Yearly. N.Y., 19 Cortlandt St.
M. & N.
do
do
M..& S.
do
do
M. & S.
do
do
A. & O.
do
do
J. & D.
do
do
J. & J.
do
do
J. & D.
do
do
M. & S. New York and London.
M. & S.
do
do
M. & N.
do
do
J. &D.
do
do
T. <fe D.
do
do
M. & N.
. do
do

Jan.. 1883"
May 1, 189T
Sept. 1, 1919*
Mar. 1, 1923.
Oet. 1, 1920»
July 1, 1891
Sept.
Sept,
Dec.
Dec.
June
Nov.

1,
T,
1,
1.
1,
1,

1920
1920
1908
1969
1977
3922 -

N. Y., 119 Liberty St.
J. & J. Bost.,Treasurer's Office. Jan., 1905"
F. & A.
do
do
Aug. i , 1902".
1882-92
1882-92
J. & J. N.Y., Grand Cen. Depot. July 2, 1883 5
J. & D.
do
do
June 1, 190$A. & O.
do
do
1903
J. & D.
do
do
June 3.1911
March i , 1883:.

N e w T o r te L a k e E r ie & W e s t e r n .—Line of R oad .—This
Debits—
1880.
1881.
1882. S
company operates a system oi nearly 1,900 miles of railroad, Pavonia ferries—expenses....
$216,318
$249,643
$245,10$
requiring a map to show plainly the territory occupied. From Sufferns, Interest on funded debt._____
3,963,872
4,148.745
4,816,369
N. Y., to Dunkirk, 1ST. Y., 430 miles : branches—Piermont. 18 miles ; New- Long Dock Co. bonds.—inter’t
210,000
215,000
210,000
burg. 18 miles: Buffalo, 60 miles: Erie International RR., 5 miles; Weehawken Docks—interest..64,453
64,453
64,453;
Rutherford to Ridgewood, 11 miles; leased—Montgomery & Erie RR., Guaranteed interest________ _
131,928
86,914
50,908
10 miles; Goshen & Deckertown, 12 miles; Newburg & New York, Rentals of leased lines.............
662,952
689,802
704,361s
13 miles; Paterson Newark. &N. Y., 11 miles; Hawley & Honesdale, 24 Sus. Br. & E. June. RR.—rent.
25.704
17.901
18,290
miles.; Jefferson RR., 37 miles; Buf. Brad. & Pittsburg and extension, 66 Paterson & Newark RR.—rent.
11,327
4.279
miles; Buff. N. Y. & Erie, 140 miles; Suspension Bridge & Erie Junction, Other expenses_______ ____ _
755,955
944.496
892,198
23 miles; Rochester & Genessee Valley, 18 miles ; Avon Gen. & Mount
Total debits.................____ $6,012,519
$tYll6,2t>3
$6,501,693
Morris, 17 miles; Paterson & Hudson, 15 miles; Paterson & Ram., 15
$1,790.620
$1,887,417
$1,166,642:
miles; Lockport & Buffalo, 13 miles ; Buffalo & Southwestern, 68 miles;
controlled—Newark & Hudson, 6 miles; Weehawken New York & Fort
Lee, 5 miles ; Northern of N. J., 25 miles ; total operated, 1,060 miles.
’
’
’ V ^
~
On May 1, 1883, began to operate the New York Pennsylvania & Ohio 294,343.)
N e w York & Long H r a i q l i .—The following-named companies^,
underlease, 565 miles in all, including leases; and oa May 14,1883, the
consolidated on December 21, 1881: New York & Long Branchs.
Chicago & Atlantic road was ^opened from Marion, Ohio (on the New were
York Pennsylvania & Ohio), to Chicago, 268 miles, and under control ot RR., from Perth Amboy to Long Branch, 23 miles; New Egypt & FarN. Y. Lake Erie & West, gave a complete line from New York to Chicago. mingdale RR., from Long Branch to Ocean Beach, 7 ; Long Branch Jr.
O r g a n i z a t i o n , L e a s e s , &c.—The New York & Erie RR. was chartered Sea Girt RR., from Ocean Beach to Sea Girt, 3; New York & Long
April 24,1832, and the State of New York loaned the company $3,000,- Branch Extension RR., from Sea Girt to Point Pleasant, 3 ; Long
000, and after financial difficulties the road was opened to Dunkirk, the Branch & Bafnegat Bay RR., from, Point Pleasant to Bay Head, 1 *
Western terminus, April 22,1851. The company defaulted and reor­ total length, 38 miles. The Central RR. of New Jersey holds a ma*
ganization was made under the name of Erie Railway Co., June 25, jority of the stock, and by contract of Jan. 3,1882, the Pennsylvanias1861, the preferred stock being then issued for certain obligations. The Raiiroad and Central of New Jersey agree to pay 32 per cent of gross,
Erie Railway defaulted on its bonds in 1875, and was sold in foreclosure traffic—$206,000 per year as a minimum to $240,000 as a maximum.
under the second consolidated mortgage in 1878. The present com­ When the Philadelphia & Reading leased the Central of New Jersey,,
was begun to deprive the Pennsylvania Railroad of further uses
pany was organized and took possession June 1, 1878.’ Under the litigation
plan of reorganization the common stock paid a cash assessment cf $4 of this route, and the suit is yet pending. (V. 37, pt. 343.)
N e w Y o r k & N e w E n g la n d .—The mileage owned is as f o l ­
per share and preferred stock $2 per share. By the terms of the plan
one-half of the stock, both common and preferred, is issued to “ Voting lows: Boston to Hopewell Junction, 215miles; Wicopee to Newburg, $.
Trustees” in London, who shall vote on them until the dividend on miles; Providence to Willimantic, 58 miles; branches—Brookline, Mass.,,
the preferred stock (6 per cent) has been paid for three consecutive to Woonsocket, R. I., 34 miles; E. Thompson, Conn., to Soutlibridge,
Mass., 17 miles; Islington and Elmwood to Dedham, Mass., 3 miles
years (See V. 36, p. 1).
The terms of leases will be found under the names of the respective Charles R. to Ridge Hill, Mass., 2 m iles; Dorrance Street, in Providence^
1 m ile; total owned, 333 miles. Leased—Franklin to Valley Falls, 14
leased roads.
S t o c k a n d B o n d s .—Preferred stock has a prior right to 6 per cent miles; Vernon to Rockville, 4 miles; Springfield to. E. Hartford, &c., 34
fnon-cumulativel from the net profits, “ as declared by the board of miles; Norwich & Worcester RR., 66 miles; total leased, 119 miles; also.directors,” and in Jan., 1883, it was decided by the U. S. Circuit Court has running arrangements ovsr 26 miles more. Total, 478 miles.
The former Boston Hartford & Erie Railroad became insolvent and w as
that when sufficient earnings were shown the dividend must be paid.
There have been paid on the preferred stock since reorganization succeeded by this company, formed in 1873. The Boston Hartford <fc
dividends of 6 per cent each for the years ending Sept. 30,1881 and Erie’s principal debt was the Berdell mortgage- for $20,000,000, which
1882. Prices of stock since June, 1878, have been as follows: Com­ was made exchangeable into the stock of this present company, and on
mon—In 1878, 758@2212 ; in 1879, 21ie®49; in 1880, 30®51*s ? in 1881, Sept. 30, 1882, $3,498,000 yet remained to be exchanged. In 1878-9
39%@5278; in 1882, 33ii®43%;; in 1883 to last Saturday, 271g®4078. the company acquired the Hartford ProVidence & Fishkill Railroad bjr
Preferred—In 1878, 21ia@38; in 1879,
in 1880, 47® 9 3 ^ ; the payment of its bonds. On Sept. 30, 1882, there was $1,734,432 oY
in 1881, 80*2® 96*2; in 1882, 67® SS^; in 1883 to last Saturday, 72® 83. floating debt. In June, 18§2, $5,000,000 new bonds were authorized,,
The funded coupon bonds are secured by lien of consolidated and stock owned by the State of Massachusetts was sold to the stock­
mortgage. On the second mortgage and second funded coupon no holders at 50 per cent, while the second mortgage bonds to the amount
foreclt sure can take place till six successive coupons are in default, of $1,737,000 were issued to the State of Massachusetts.
Much was expected from the completion of the line to Fishkill on the;
but all of ore coupon must be paid before any part of a subsequent
coupon is pail. In 1882 the reorganization first lien bonds dated 1878 Hudson and the transfer of through freight there from the Erie and
were issued to procure money for laying double track west of Hor West Shore roads, but in 1833, although the business was considerable,,
nellsville to complete the double track throughout. These bonds rank operating expenses were so lartre as to. reduce net earnings below
next to the first consolidated mortgage and its funded coupons. In 1881-82.. The operations of the Norwich & Worcester road are kept
1883 the collateral trust bonds were issued, amounting to $5,000,000. separate See annual report for year ending Sept. 30, 1882, in V. 35*.
p. 656. Operations, &c., for three years past were:
(See V. 36, p. 221.
.
'
Passenger
Freight (ton)
Gross
Net
O p e r a t i o n s , F i n a n c e s , & c .—The income account for the past three
Miles.
Mileage.
Mileage.
Earnings, Earnings^
years hàs sjiown a considerable surplus over fixed charges, but the Years.
80 293
41,762,072 43,678,700 $2,324,940 $771,985position of the company has so decidedly changed by thè additional 187946,738,566 64,562,865
2,692,374 850,876c,
8 1 .325
outlay of capital, increase of charges, and acquisition of new properties, 18808 2 .380
55,853,672 103,668,653
3,302,789 943,17$.
(particularly the new lines in 1883, that the past record furnishes littLe 1881—(
V.
35,
p.79j
161,
212,
298,
348,
576,
6
5
6
;
V.
36,
p. 80. 510.)
guide for the future. ' The annual report for the year ending September
30,1883, will be looked to with much interest. For nine months of the
N e w Y o r k N e w H a v e n & H a r t f o r d .—Owns from Harlem June..*.
fiscal year, October 1, 1882, to July 1, 1883, net earnings were N. Y., to Springfield, Mass., 123 miles ; branches to New Britain, Middle* »
$4,603,413, against $4,601,053 in the same time of previous year.
town andSuffield, 18 miles; leased—Harlem & Portchester RE., 12 miles i |
The annual report for year ending Sept. 30,1882, was published in Shore Line RR., 50 miles ; total operated, 203 miles. This was a consóli* .
the Chronicle, V. 35, p. 635. The operations and earnings for four dation July 24,1872, of the N. Y. & New Haven and the Hartf. & N. H .
years past were as follows:
railroads. The company uses the N. Y. & Har. RR. from WilliamsbridgeOperations—
1878-79.
1879-80.
1880-81.
1881-82. into N. Y. City and pays a large rent therefor. The company leases thePassengermileage.. .149,115,718 180,460,204 200,483,790 225,130,883 Har. Riv. & Port. RR. and guarantees the bonds. In Nov., 1882, the
Rate p. pass. p. mile. 2-091 cts.- 2 041 cts.
2-016 cts.
1-947 cts. lease of the N. Y. & Boston Air Line for 99 years at 4 per cent per an.
Freight (tons) miTge.1569222417 1721U2095 1984394855 1954389710 num on the preferred stock was made. In Sept., 1882, the stock of the*
Av. rate p. tonp.mile 0-780 cts.
0-836 cts.
0-805 cts.
0-749 cts Hart. & Cònn. Val. road was purchased. In April, 1881, a controlling in­
jSctT'Titiigs—
$
^
^
$
terest was bought in the N. Haven & Northampton RR. stock, by parties
3,682,951
4,041,267 4,384?510 in the interest of this company. In 1883 the mortgage for $5,000,000 at
Passenger.................. 3.118,944
F re ig h t.................... 12,233,481 14,391,115 15,992,275 14,642,128 4 per cent was authorized, to be issued as required m making improve*
Mail, expr’s,rents,&c.
589,598
619,042
682,063
949,136 ments on the main line.
Fiscal year ends September 30. Operations in 1881-82 as below include
Total gross eam ’gs. 15,942,023 18,693,108 20,715,605 19,975,774 for the first time the Shore Line road; gross receipts from all sourcees
Operating exp’nses 11,174,697 11,643,925 13,256,230 13,088,093 and net income over rentals and all charges, have been as follows :
Passenger Freight (ton)
Gross
Net
Div..
Ket earnings............. 4,767,324 7,049,183 7,459,375
6,887 681 Years. Miles.
Mileage.
Mileage. Receipts.
Income, p. c.. >
P. c. op. exp. to earn’s
70-09
62-29
64-00
65-50 187980. 152125,300,34578,372,806 $4,533,342 $2,729,250 HE
188081. 153152,730,696108,611,607 5,292,624 3,436,435 10*
p r o f it a n d loss.
188182.203 185.261,407117.459,231 6,159.829 4.16^,637 10&
Credits—
1880.
1881.
1882.
(V.
35,
p.
21,297,
298,517, 602; V. 36,p. 2 8 , 81,170,304, 510, 611*731.*
Net earnings............................. $7,049,183
$7,459,375
$6,887,681
Other receipts..........................
? 783,957
844,306
780,654
N e w Y o r k O n t a r io & W e s t e r n .—Owns from Oswego, N. Y., t o
Middletown, N. Y., 249 miles; branches to Courtland, N. Y .,48 miles ;
Total credits....................... $7,833,140 $8,303,681 $7,668,335 to New Berlin, 22 miles; to Delhi, 17 miles; to Ellen ville, 8 miles £ -




RAILROAD STOCKS AKD

50

BONDS.

[Y ol. XXXVII.

Subscribers w ill confer a great favor by giving immediate notice o f any erfror discovered in these Tables.
IBonds—Princi
INTEREST OR DIVIDENDS.
DESCRIPTION.
pal,When Due*
Miles Date Size, or
Amount ,
Where Payable, and by Stocks—Last
When
Par Outstanding
of
For explanation of column headings, &c., see notes of
r
Dividend.
Whom.
Cent. Payable
Road. Bonds Value.
on first page of tables.
427
460
460
460

New York Penn. & OMo—Prior lien bonds, gold,$&£
1st mort., gold, incomes till July,.1895, $ & £ ..
2d mortgage, incomes, $ & & .................................
| 3d mortgage, incomes, $ & £ ................................
N.Y. Pittsburg <&Chic.—1st M., gold ($18,000 p. m.)
N. Y. Prov. & Boston—(Stonington)—S t o c k .........
First mortgage................... . . : ............ ....................
1st mortgage— ......................................... - ............
N 35 SusquetLcb Western—itew mort., gold................
\First mortgage; Midland of New J ersey ............. .
Mortgage, gold, on Paterson Extension..............
Debenture bonds.......................................................
N. Y. Tex, & Mex —1st M .. gold, 1. g. (for $8,000,000;
N. Y. West Shore <&Buffalo—1stM.. gold, coup. &reg
W. Shore & Ont. Terminal C o ./1st M.. gold, guar.
N.Y. Woodhaven <6Rockaway.—1st mortgage.
Niagara Bridge <&Canandaigua S t o c k .........
Norfolk & Southern—1st mortgage, gold ........
2d mortgage, income (Cumulative)...............
Sinkin g fund debenture certificates. . . . . —
Norfolk <a Western.—Common stock................
Preferred (6 per cent) stock........................
. v General mortgage,gold (for $11,000,000)...
Car trust........................... 1...............
Norfolk & Petersburg—2d m ort...
South Side—1st pref. consol, mort
do
2d
do
gi
do
3d
do

72
50
12
114
72

463
16
98
75
75
563
563
428
80

;
.

81
133
133
133

1880 $500&c.
1880 500 Ac.
1880 500 &c.
1880 500 Ac.
1881 500 &c.
100
1,000
1869
1,000
1881
1,000
1881
1880 500 &c.
1,000
1881
1882 500 Ac.
500
1882
1881 l.OOO&c
1883 l,000&c
1,000
1882
1880
1881
1881
1881
1882
1868
1866
1866
1866

$8,000,000
38,371,000
14,500,000
30,000,000
m
3,000,000
1,000,000
300,000
2,500,000
3,500,000
250,000
600,000
3,000,000
50,000,000
m
600,000
1,000,000
1,000
900,000
1,000
1,000,000
250,000
1,000*
7,000,000
15.000,000
6,500,000
1.ÒÒ0
2,000.000
1,000
552,400
496,000
1,000
703,000
1,000
581,300
200 Ac.
452,800
200 &c

6g.
7 g.
5 g.
Ì 5 '§•
I 8'
7
4
6
6&5
6
6
6 g.
if:
6 g.
3
6 g.
6
6

M. & S.
J. & J.
M. & N.
M. & N.
J. & J.
Q.—F.
J. & J.
A. & O.
J. & J.
A. & O.
I. & D.
A. & O.
J. & J.
F. & A.
J. & J.
A. & O.
M. & S.
Yearly.
A. & O.

March 1,1895
July 1, 1905
May 1, 1910
Nov., 1915
July 1, 1921
Aug. 10,1883
July 1, 1899
April 1, 1901
July 1, 1911
April 1, 1915
1911
Aug- 1, 1897
New York & London. Oct. 1, 1912
July, 1931
New Yornor London.
Aug. 1, 1923
do
do
Jan.
1, 1902
N. Y., Fisk & Hatch.
Oct. 1, 1883
Sept. 1, 1925
New York.
Jan. 1, 1975
N. Y., Dominick & D. Oct. 1, 1892

London and New York,
do
do
do
do
do
do
New York Agency.
N. Y., M. Morgan’s Sons,
do
do
do
do
N.Y., Central Trust Co,
N. Y., Nat. Park Bank.
N. Y., 93 Liberty St.

Q.—Mcb
'Ï '
6 g. M. & N. N. Y. and Philadelphia.
6 g. A. & O. N. Y., 34 Pine Street.
M’ntlily
J. & J. N.Y., Union Nat. Bank.
'*8'
J. & J. N. Y.,Nat. Park Bk.
8
Petersburg, Va.
J. & J.
6
do
do
J. & J.
6

Dec. 15,1882
May 1, 1931
A p r ili, 1932
July 1, 1893
Jan. 1, ’ 84-’90
Jan. 1. ’84-’90
Jan.l,’96-1905

1
leased—Middletown to Cornwall and thence to Weehawken, 77 miles; a consolidation in June, 1881, of the Midland of New Jersey, the Pater­
total operated, 421 miles.
, son Extension, theNorth Jersey, the Pennsylvania Midland and the Mid
This was the New York & Oswego Midland. Main line was opened land Connecting railroads. Stock, common, $13,000,000; preferredJuly, 1871. Default was made in 1873: The main line was sold in fore­ (cumulative 7 per cent), $8.000,000. The amounts of stock were reduced
closure November 14, 1879. The present company was organized in 1882 from $20,000,000 com. and $10,000,000 pref., as first authorized.
January 22, 1880. From assessments about $10,000,000 was realized, The New Jersey Midland junior securities were exchangeable into stock
the holclers of first morlgage bonds taking new common stock without of this company on certain terms, and the status of the securities waspaying any assessment, and the holders of receivers’ certificates taking fully stated in the Chronicle , May 12,1882. (see V. 36, p. 536.)
The company being in a new position, its earnings in 1882 are hardly
new preferred stock. The terms of reorganization forbid the placing of
a mortgage ahead of these stocks.
;'
§ a criterion, the gross being then $725,957, and net $247,956. Refer­
In September, 1881, agreements were made with the New York West ences should be made to the annual report in V. 36, p. 588. (V. 35, p.
Shorc & Buffalo road. The stockholders of record August 5,1832, had 189, 213, 291, 431, 517; V. 36, p. 81, 536, 5 8 8 ; V. 37, p. 23.)
tiie privilege of taking $10,000,000 of the first mortgage 5 per cent
N e w Y o r k T e x a s & M e x ic a n . - Line projected frorn Rosenburg
bonds of the New York West Shore & Buffalo Railroad on paying 50 per
un
cent in cash, as these bonds had been received by the New York Ontario pei
& Western for building the road between Middletown. Cornwall and (so __ ■
.
.
.
.
Weehawken. (See terms of alliance with the New York West Shore & Stock,
$2,000,000. See V. 36, p. 479. (V. 34, p. 575 ; V. 35, p. 22, 161,
Buffalo below under title of that company). The annual report for 576 ; V. 36, p. 479.)
1881-82 was published in the Chronicle, V. 36, p. 250. Preferred
N e w Y o r k W è s t S h o r e & B u f f a l o . —(See Map.)—This was
stock to receive 6 per cent (non-cumulative) from net earnings; surplus
goes to common. In March, 1883, dividends for two years were paid ou a consolidation in July, 1881, of the New York West Shore & Buffalo,,
the
Jersey City & Albany and the North River railroads. It is building
preferred stock. In 1883 and subsequently the rental due New York
West Shore & Buffalo will be $500,000 per year, less the accounting for line from Weehawken, N. J., to Athens, on the Hudson River (with,
branch
to Albany), and thence to Buffalo (425 miles), and connecting
use of track of that company. In 1880-81 gross earaings $925,044; net,
* $217,543, In 1881-82, gross, $1,036,564; net, $188,291. (V. 35, p. with the road of the N. Y. Ontario & Western at Middletown, N. Y., by a.
branch
from Cornwall on the Hudson, total length 472 miles. The
132, 161, 212; V. 36, p. 2 5 0 .)
company also has a contract with the N. Y. Susquehanna & Western RR..
N e w Y o r k P e n n s y l v a n ia & O liio ¿—Owls from Salamanca, to run its cars from Little Ferry, N. J., over the tracks of that road tothe
N. Y., to Dayton, 0 ..3 8 8 miles; branches—Meadville, Pa., to Oil City, Pennsylvania RR. Depot in Jersey City;, thus connecting with the latter.
33 miles; Junction (main line) to Silver Creek, O., 2 miles; total owned, In Oct., 1883. the whole line was open from Jersey City to Syracuse, N.Y.
423 miles. Leased lines—Cleve. & Mahon. RR., Cleveland, O., to Pa. Line,
The N. Y. Ontario & Western built from Weehawken to Cornwall and
find branch, 81 miles; Niles & New Lisbon RR., Niles to New Lisbon, 36 from
Cornwall to Middletown for the N. Y. West Shore & Buffalo, in
m iles; Liberty & Vienna R R „ Vienna Junction to Vienna, 8 miles; Ohio consideration of receiving $10,000,000 mortgage bonds and $2,000,000
Line to Sharon, Pa., 2 mile; Sharon R’y, aud extension. 17 miles; total stock of the N. Y. West Shore & Buffalo. Then the N. Y. Ontario &
operated, 565 miles. Changed to standard gauge June, 1880. Formerly Western
leases from the N.Y. West Shore & Buffalo the piece of roadfrom
Atlantic & Great Western Railway. Sold July 1, 1871, and leased to Middletown to Cornwall, and from Cornwall to Weehawken, for 99
' Erie on May 1, 1874, but lease not carried out. Again in hands years, at 25 per cent of the gross earnings per year, but guaranteeing
o f a Receiver Dec. 9, 1874. Sold Jan, 6, 1880, and reorganized by a a minimum rental of $500.000. This lease is subject to the right of the
London committee of stock and bond holders. (See V. 30, p. 143.)
N. Y. West Shore & Buffalo to run over the road from Cornwall to
Five trustees exercise the voting power of the new stock until the third Weehawken, accounting to the N. Y. O. & W. for its pro rata share o f
mort. bondholders receive 7 per cent interest in cash during three years. the earnings. From Cornwall to Buffalo the North River Construction.
The first mortgage bonds bear 7 per cent, whatever portion of this that Company is the builder.
.
,
may not be earned to be payable in deferred warrants, to be capitalized
The West Shore Road connects with the Suspension Bridge at Niagara
in bonds of the same class; payment of interest to become absolutenot Falls,
and
with
the
International
Bridge
overthe
Niagara
River,
by
later.than July 1,1895, and,until June 1,1895, the right to foreclose means of the branches of the N. Y. Lake Erie A Western mailing to those
the mortgage is suspended. On January 1,1882, tne coupon on 1st points, for the use of which it has contracts.
mortgage bond was passed. On the second and third mortgages there
The terminal property on the Hudson River & Weehawken is very ex­
.. is no right to sue the company or to foreclose. The stock is—preferred tensive. embracing a water front of 6,790 feet, and containing an area,
shares,$10,000,000: common shares, $35.000,000.
of
440 acres, of wbich 200 acres below the bluff are available for tracks,
From May 3,1883. leased to N. Y. Lake Erie & Western. The terms of
piers, etc. This property is owned by a company entitled
the contract provide that the New York Lake Erie & Western, as lessee, buildings,
The West Shore & Ontario Terminal Co.-,’rembracing all the rights
shall pay the minimum sum of $1,757.055 yearly (the net earnings of “under
different
charters, and it is leased jointly and separately to
1882); the actual rental will be 32 per c.nt of all gross earnings up to the two railroadspecial
companies, and one-half its stock is held by each com­
$6,000,000, and 50 per cent of all gross earningsjabove $6,000,000, pany
fthe
total
stock
being
$5,700,000), and the bonds ($12,000,000) are
until the average of the whole rental is raised to 35 jper cent, or until guaranteed, principal and interest,
by both of the railroad companies.
the gross earnings are $7,2u0,000, and then 35 per eent of all earnings.
The
stock
is
$40,000,000
and
1st mortgage bonds $50,000,000, the U.
But if 32 per cent of the gross earnings should ever be mss than the
Trust Co. of New York being trustee. These bonds cover the road
$1,757,055 to be paid yearly, then the deficit is to be made up without S.
equipment, but not the Weehawkén terminal property. December
Interest out of the excess in any subsequent year. Out of the rental and1882,
the Construction Company contracted with Winslow, Lanier A
paid, the N. Y. P. & O. has to pay its interest and rentals, and for five 1,
Co.
and
a syndicate they organized, for a sale of first mortgage bonds
years a payment of $260,000 a year to the car trust.
estimated
to be sufficient to complete the road to Buffalo, aud of the
The annual report in V. 36, p. 398, gave the gross earnings for 1882,
taken by the syndicate $16,145,000 were withdrawn from sale,
$5,831,082; netinconie, $2,028,044; disbursements, $2,111,691. (V. bonds
by agreement, until March 1,1884. In August, 1883, a memorandum
35, p. 103, 373,517; V. 36, p. 252, 286,366, 3 9 8 , 427; V. 37, p. 375,422.) of all the cash received for construction was given as follows:
N e w Y o r k P it t s b u r g & C h ic a g o ,—This was the projected line Ontario & Western reconstruction fu n d .................................$10,000,000
from Red Bank, Pa., to Huntington, Ina., and to Chicago, forming a west­ Sale to O. & W. stockholders of $10,000,000 bonds at 50—
5,000,000
ern connection for the Central of N. J. The company was building from North River Construction Co. stock........ ............................... 10,000,000
Wampum, Pa., to Marion, O., 165 miles, and the whole route was to ex­ No. Riv. Cons. Co. subs, to $15,000,000 W. S. bonds at par. 15,000,000
tend from New York City to Marion, O. Henry Day, N. Y., is trustee Winslow, Lanier & Co.’s con tract.........................- .......... — 15,000,000
o f the mortgage, and Gen. J. S. Negley, Pittsburg, is President,
„ .. .......................................... ............ $55,000,000
jfc N e w Y o r k P r o v id e n c e & B o s t o n .—Owns from Providence. R.
I., to Groton, Conn., 62 miles; Warwick RR., 10 miles; operates also - (V. 35,13. 266," 339," 538Ì 576/577,638; Y. 36, p. 56, 196, 340, 497,
Pawtuxet and Pontiac branch roads, 10 miles; total operated, 82 miles. 536, 591, 651 ; V. 37, p. 48, 151, 175, 234, 267, 294, 343, 375.)
Owns a majority interest in the Providence & Stonington Steamshlj
N e w Y o r k W o o d h a v e n & B o c k a w a y . —Owns from Glendale
Line, which has a capital of $1,400,000. Operations and earnings for Junction, L. I., to Roekaway Beach, 11 miles; leased—Glendale to
four years past were :
Long Island City, 6 miles ; and to Bushwick Ave. and Flatbush Ave., 10
Total net Div. miles; total operated. 26 miles. The stock is $1,000,000. Income
Passenger Freight (ton) Gross
Earnings. Income. p.c. bonds. 6 per cent, $1,000,060. A readjustment of the finances took
Mileage.
Mileage.
Years.
Milos.
11,467,971 $689.008 $318,656
8
19,377,410
18789 ..., 63
place in 1882, and the new $600,000 first mortgage was issued, o f
779,885
11,290,326
349,096
8
22,167,232
187980 .'. 71^
which $234,000 is reserved to p a y off a car trust; and the $1,000,000
957,717
13,098,143
355,245
8
22,862,036
1880- 81 .. 73
incomes were issued for the old mortgage bonds. In 1882 gross earnings
14,700,005 1,065,650 375,079
8
188182 . 7223,836,502
were $105,682 ; net, $36,501.
—(V. 35, p. 656.)
N ia g a r a B r id g e & C a n a n d a ig u a ,—Owns from Canandaigua to
New Y ork Susquehanna & W estern.—West End, N. J., to -Suspension Bridge, N. Y., 98 miles. The road is leased in perpetuity
Unionville, N. Y., 72 miles ; Two Bridges, N. J., to Gravel Place, Pa., 50 to the New York Central A Hudson at $60,000 per annum.
miles ; branches, 9 milès. Leased Unionville to Middletown, N. Y., 13
N o r f o lk & S o u t h e r n ,—Formerly the Elizabeth City & Norfolk.
miles; Lodi Branch, 2 miles; total owned, leased and operated, 146 miles. Name
changed Feb. 1,1883. Owns from Norfolk, Va., to Edenton, N.
The New Jersey Midland was built as a connecting line of the New C., 73 miles.
Capital stoek, $1,000,000. (V, 36, p. 169.)
York & Oswego Midland, and went into receiver’s hands March 30,
N
o
r
f o lk & W e s t e r n .—Owns from Norfolk, Ya.. to Petersburg,
1875, and was sold in foreclosure Feb. 21,1880, and the Midland of
N ew Jersey was organized; The New York Susquehanna & Western -was Va., 81 miles; Petersburg, Va., to Lynchburg, Va., 123 miles;




S7
BONDS.
STOCKS AND
RAILROAD
O ctober , 1883,]




158

RAILROAD

STOCKS A N D

BONDS.

[Y ol. XXXVII.

Subscribers w ill confer a great favor by giving immediate notice o f any error discovered in these Tables.
-Prinei
INTEREST OR DIVIDENDS.
DESCRIPTION.
Miles Date Size, or - Amount
Where Payable, and by *
When
Rate
per
Par
of
F or explanation of column headings, &c., see notes of
Outstanding
Dividend.
Whom.
Cent. Payable
Road. Bonds Value.
on first page of tables.
Norfolk <&Western—(Continued)—
Virginia & Tennessee—Enlarged mortgage---- do
do
4th m ortg a g e...,.........
Worth OarQlin a—Stock, common...............................
Preferred stock... —
...............
Mortgage bonds.----- s......................................... .
Worth Pacific Coast—1st and 2d mortgages.............
Worth Pennsylvania—Stock, guar . . ......................... 1st mortgage!.......................... ................. --- -- —
52d mortgage................................ - .............................
‘’General mortgage bonds.........................................
'Bonds secured by $1,200,000 stock.......................
STortheeLstern (S. C.)—Stock, common.................. ....
1st m ortgage.............................; ............ - - - - ......... .
2 d m ortgage.................... ........... - .............................
Consol.inert,, gold (for $1,836,000)......................
Worthern ( Cal.)—1st m ortgage.............................
San Pablo & Tulare—1st mort.............
..........
Storihem Central—Stock................................... .......
1st mortgage, State (Maryland) loan....................
2 d mortgage, coupon, sinking fund.............. ......
3 d mortgage, coupon.............................................Consolidated mortgage, gold, coupon.. . . . . . . . . . .
Consolidated mortgage, gold, registered . ---- - - - - .
C onsol. general mort., gold, s. f., coup., $ or £. .
.
2 d general mort., “ A,” coupon......................
-> • '
do
“ B.” coupon.............................- .
Union RR., 1st mortgage............. ..........................
do
2d mortgage, gold..................... ..........
Worthern, N. H.—S t o c k . . .. . . . '. .. . . . . . . . :..................

$990,000
1,000,000
8,000,000
1,000,000
210,000
1,100,000
4,399,750
1.930.500
1,500,000
2,569,500 .•<
1,200,000
899,350
50
820,000
500
322.000
. 500
1,000
m
3,148,000
1,023,000
1,000
6,500,000
50
• 1,500,000
1,490,000
500 &c.
1,126,000
500 &c.
2.599,000
1,000
205,000
1,000
4,558,000
1,000
2,901,000
1,000
1,000,000
1,000
783,000
500 &c
600,000
500 &c
3,068,400
100

214 1854 $1,000
1,000
214 1865
100
223
100
223
500
223 ’67-’68
1881
76
50
88
500 &c.
56
500 &c.
56
1881
102
102
112
47
322
138
138
138
138
138
138
138
138
83

1869
1869
1883
1877
1878
1856
1865
1868
1868
1874
1876
1876

Lynchburg, Va., to Bristol, 204 miles; branches—Petersb’g to City Point,
Va., 10 miles; Junction to Saltville, Va., 10 miles. Total operated, 428
miles. Under construction,: New River Bridge to Pocahontas, Va., 75
«d ie s f since completed]; Cripple Creek Branch, 60 miles.
The Atlantic Mississippi & Ohio RR. Co. was a consolidation of Nor­
fo lk & Petersburg, South Side and the Virginia & Teunessee roads, in all
•of which the State of Virginia had an interest for loans made to them.
Default on the Atlantic Mississippi & Ohio consolidated bonds was made
•October 1,1873, and the road was sold in foreclosure Feb. 10, 1881,
nnd was reorganized as the Norfolk & Western. In January,_ 1833,
•common stock was increased by $4,000,000 to exchange for Shenan"doah Valley RR. stock, and a close working contract was made with
that Co. Of the general mortgage, $5,137,000 is reserved to take up
prior liens. The status of the company is fully given, with details of
its working and new alliances, in the annual report. The dividends on
preferred stock were suspended in 1883 to pay off floating debt. The
interest charge on debt in 1882 was about $730,000.
_
The annual report for 1882 in V. 36, p. 193, stated that “ the earnings
o f the road, although in excess of the previous year, have been dimin­
ished by two causes. First, the drought, which prevailed during a large
portion of the latter months of 1881, destroyed to a great .extent the
¿agricultural products of the country tributary to your road and its con­
nections, and thus very largely diminished its revenue from that source.
This failure of the crops was felt during the entire season until the latter
p a rt of the past year. Second, by insufficient equipment. The revenues
o f the company would have been greatly increased after the opening of
the autumn business had it possessed a more abundant supply of rolling
stock.” * * * “ Improvements of a permanent nature have not only
^exhausted the ‘ Improvement and Construction ’ fund which was pro­
v id e d , but have caused an excess of-expenditure amounting. Nov. 30 to
$195,433. Finding the need of money lor this' and other purposes,the
«ompany negotiated the $500,000 general mortgage bonds which had
been reserved, and in January, 1882, placed the proceeds m the treasury

6
8
3
3
8
6
2
6
7
7
3
6
8
8
6 g.
6
6
4
6
6
6
6 g.
6 g.
6 g5
5
6
6 g.
3

July 1, 1884
Men. 1, 1900
Mar. 1, 1883
Mar. 1, 1883
Nov., 1888
Nov. 1. 1901
Aug. 25, 1883
Jan. I. 1885
May 1, 1896
1903
Sept. 1, 1905
4pril 10,1883
Sept. 1, 1899
Charleston, Office.
Sept. 1. 1899
do
do
Jan. 1, 1933
do
do
Jan. 1, 1907
Central Pacific RR.
April 1, 1908
do
do
Baltimore & Philadel. July 15, 1883
Irredeemable.
Annapolis.
July, 1885
Baltimore.
April, 1900
Baltimore & Philadel.
July 1, 1900
Baltimore.
July 1, 1900
Baltimore & Phila.
London <fe Baltimore. July 1, 1904
Jan. 1, 1926
Baltimore.
Jan. 1, 1926
do
Baltimore.
London.
1900
June 1, 1883
Boston, Oihce.

J. & J. N.Y., Union Nat. Bank.
do
do
J. & J.
M. & S. Company Shops, N. C.
do
do
M. & S.
do
do
M. & N.
M. & N.
Philadelphia Office.
Q .-F .
do
do
J. & J.
do
do
M. & N.
do
, do
,1. & J.
M. & S.
do
do
M. & S.
M. & S.
J. & J.
T. & J.
A. & O.
J. & J.
Q.—J.
J. & J.
A. & O
J. & J.
A. & O
J. & J
J. & J
J. & J
J. & J
M. & N
J. & D.j

Quentin, 4 miles ; total operated, 80 miles. Stock, $2.500,000. Earning
in 1881, $277,186; net, $68,994. Gross in 1882, $358,199; net
$67,418.
North Pennsylvania.—Owns from Philadelphia, Pa., to Bethle­
hem, Pa., 56 miles; branches—Jenkint’n to Dela. River, 20 miles; Lansdale toDoylestown, 1 0 miles; Iron Hill to Shimersville, 2 miles; total,
operated, 88 miles. The Northeast Penn’, and the Stony Creek roads are
operated under contract. In May, 1879, was leased to Phila. & Reading
at o@7 per cent on stock till 1883, and 8 per cent thereafter.

Northeastern (S. C.)—Owns from Charleston, S. C., to Florence
S. C., 102 miles. Leased jointly, Lane, S. C., to Sumter, 8. C., 38 miles
Total operated, 140 miles. This company has earned the interest on its
bonds, with a good surplus. In Nov., 1882, the above consol, mortgage
was authorized, of which $1,142,000 to be held to retire debts of prior
lien, and $694,000 issued for betterments, equipment, &o. In 1880-81
gross earnings were $484,760; net, $153,803; in 1881-2, gross, $560,229;
net, $206,146. (V. 35, p. 656.)
Northern C alifornia. — Owns from Oakland to Martinez, 36
miles; Port Costa to Snisun, 1 7 ,miles; Woodland to Willows, 65
miles; Willows to Tehama, 36 miles: leased, San Pablo & Tulare RR.—
Martinez to Tracy City, 47 miles; total operated, 200-miles. Com­
pleted in 1878 and is leased to the Central Pacific till Jan. 1,1885»
at a rental of $47,500 per month for Northern and S. P. & T. The
Northern stock is $4,710,500. and San P. & T. stock, $1,861,000.
W. V. Huntington, President, San Francisco.
Northern Central.—Owns from Baltimore.' Md., to Sunbury, Pa.,
138 miles; branch—Relay to Green Spring, 9 miles; leased—Shamokin
Valley
Pcttsville RR., 30 miles; Elmira & Williamsport Railroad, 7b
miles ; operated at cost—Chemung Railroad, 17 miles; Elmira Jefferson
& Canandaigua RR., 47 miles—315 miles; track of New York Lake Erie &
Western used 7 miles; total operated, 322 miles. This was a consolida­
"°f For ^igM^months of 1883, gross earnings were $1,690,333; net tion of Several roads in Jan., 1855. The terms of the several leases will
be found under the names of the leased roads. In April, 1882, pur­
- $737,741; against $1,438,655 gross and $604,823 net in 1882.
chased at par the stock of Union Railroad in Baltimore, $600,000,
The earnings and expenses for three years past were practically makinglthat road a part of the Northern Central property,
1882.'
1881.
1880.
$2,429,740 subiect to its mortgages. The consolidated general mortgage (gold) of
$2,267,289
Total gross earnings............... $2,064,194
1,322,577 1874 was for $10,000,000 to retire all prior bonds, Under the 2d gen­
1,163,233
-Operating expenses................. 1,097,684
eral mortgage of 1876 $1,000,000 more may be issued as Series C.
The business of the company depends to a considerable extent on coal
$1,104,056
$1,107,163
Net earnings..................<•-- $966,510
traffic. For eight months of 1883, gross earnings were $4,006 410 ; net,
The income account for 1882 and the general balancé at the close of $1,534,393; against $3,698,215 gross and $1,358,920 net m 1882.
1881 and 1882 were as follows;
The fiscal year ends December 31, and the report for 1882 m the
. 1882.
Chronicle, V . 36, p . 219, had the following: In conipanson with the
Net income (including $63,389 miscellaneous receipts).......... $1,170,552 year 1881, there was an increase in gross earnmgs of $3o6,476, equal to
, Disbursements—
œ_ „ Q Qt-Q 6 55 per cent, and in expenses of $54,877, or 1-45 per cent. The increase
Interest on debt.............................f ....... - .................................... ■ G s ' ® in net earnings was $301,598, or 18-21 per cent. In addition to the net
earnings ($1,957,852), there was received from dividends and interest,
$203 156; net royalty on coal mined (Shamokin Division), $80,812;
Total disbursements
............. - .............. ................ - - $1,329,359 total net receipts, $2,241,822. The coal tonnage of the mam lme m
1881 was 1,555,045 tons and in 1882,1.736,196 tons.. The aggregate
Balance, deficit..............................................................................* $lf>8»807. movement
of bituminous coal was 1,141,891 tons, an increase of 156,' * The”surplus Dec. 31,1881, was $530,590; deducting the deficit for 523 tons, principally from the Snow Shoe and Blossburg regions. The
1882, leaves net surplus Dec. 31,1882, $371,783.
tonnage of both classes amounted to 3,218,002 tons, as against 2.900,GENERAL BALANCE AT CLOSE OF EACH FISCAL YEAR
707 for the preceding year, being an increase o t 317,295 tone m the
actual aggregate of coal transported. The amount of gram transported
1882.
1881.
Assets—
Railroad, real estate, buildings, equipm’t, &c. $28,805,138 $30,677,197 shows a large decrease as compared with the preceding year, due mainly
to
the falling off in the foreign demand. There were earned to Baltimore
* 3,680,670
¿Stocks and bonds owned, cost.........................
514, boo
552,400 in 1882 10,332,853 bushels of grain; in 1881,17,911,677; a decrease of
-Car trust........ .................... ............. ....... . —
7
578
824 bushels. The passenger business for the year shows a con­
239,760
88,015
Materials, fuel, &c...... ...................................
327,722 tinued improvement, the passenger mileage increasing 6-86 per cent, and
238,028
•Cash on hand ..... ............ : ......... ....................
the
revenue
received therefrom $77,235, or 9-55 percent. There was a
287,332
108,214
■•Other property and assets.................. -- —
179,413 net profit per passenger per mile of 2-44 mills, as compared with a profit
98,592
-Current accounts........... .— ......................... in 1881 of 1-85 miffs.
Income account for four years is as follow s:
T o t a l............... ..................- ............ .
.$29,850,587 $35,924,494
1882.
1881.
1880.
1879.
Ziahiliiiesnnn
$3,000,000
$
$
$
$
5,800,17*
5,443,700
5,050,387
Stock, preferred, paid in ..... ................
15,000,000 * 18,000,000 Total gross eam’gs.. 4,107,949
2,241,820
1,917,454
12,778,600
2,091,428
Total net income. . . . . 1,595,308
Funded d eb t...................................................... 10,7lr,’ aXa
647,091
Disbursements —
Bills payable.................................................
477,256
472,093
331,517 Rentals l’s’d lines,&c*
452,097
457,742
Current accounts...............................................
•
880,875
895,730
898,060
243,103 Interest on debt.......
895,140
Interest payable..... , ................- ...........- ......... rou,
(6)
350,517
(7)
444,272
552,400 Dividends.
(2) 146,048
le a s e warrants on rolling s tock ....................
54,218
154,270
93,057
113,834
Miscellaneous..........
63,260
Miscellaneous...................................................
196,494
37,177
............
371,783 Balt. & Potomac ifft.
538,488
............
B rofft and loss— — .................................... u
Total liabilities...............- ...........................$29,850,587
$35,924,494
' * Includes $3,000,000 unissued preferred stock.
__(V 35, p. 1 3 2,182,236,374,478,546,638, 677,763; Y. 36,p.56, 81
3.08, 1 9 3 , 252, 275, 366, 472, 591, 731; Y. 37, p. 99, 235, 343.)
North Carolina.—Owns from Goldsboro to Charlotte, N. C., 223 m.
T h e p r o p e r t y was leased Sept. 11, 1871, to the Richmond & Danville
¿Railroad for 30 years at a rental of $260,000 per year. Dividends oi_6
-her cent are paid on the stock, of which the State of North Carolina holds
■*3,000,000, and the dividends thus received by the State are applied to
h i r bonds issued to the North CarolinaJRR.
North Pacific Coast.—Owns from Saucelito to Moscow Mills, Cal.,
174 miles; branch to San Rafael, 2 miles; leased, San Rafael to San




Tot. disbursements
B a la n c e , surplus...

1,416,142
179,166

1,806,533
284,895

l,809,93o
107,519

1,956,673
285,147

* Includes rent of roads and interest on equipment.
- ( Y . 35 P. 236, 374, 487, 602, 763 ; V. 36, p. 108, 2 1 9 , 252, 366, 472,
591, 7 3 l’; V. 37, p. 99, 202, 343.)
Northern, New H am pshire.—Owns from Concord, N. H., to West
Lebanon N. H., 70 miles; branch, Franklin, N. H., to Bristol, N. H., 13
miles: total, 83 miles. For the fiscal year ending March 31, 1883,
g r o s s earnings were $583,627; net, $167,550. The only liabilities are
$97.000 in coupon notes and a guaranty of $300,000 Concord & Clarem m lf. R a ilr o a d bonds. (V. 36, P. 560, 6 5 0 , 675.)

OCTOBER, 1883j]

RAILROAD

STOCKS AND

BORDS.

a

Subscribers w ill confer a great favor by giving Immediate notice o f any error discovered in tliese Tables.
DESCRIPTION.
,.ua—iTinoIINTEREST
- Miles Date Size, or
pal,When Due»
Amount Rate per
For explanation of column headings, &c., see notes of
of
Par
When Where Payable, and by atóeles—Last
Outstanding
on first page of tatoles.
Road. Bonds Value.
Cent. Payable
Whom.
Dividend.
Northern o f New Jersey—Stock.................................
26
1st mortgage, extended.. . . . . ................................
21 187*8
2d m ortgage...,............................. ...........................
21 1869
Northern Pacific—Pref. stock(8 p. c., not cum’tive). 2,365
Common stock.......................................................... 2,365
Mortgage and land grant bonds, Missouri D iv___ 205 1879
Mortgage and land gr. bonds, Pend d’ Oreille Div. 209 1879
Consol. M. Id. g., gold, $25,000 p. m., coup, or reg.
1881
2d mortgage (for $20,000,000)................................
. . . . 1883
Dividend certificates........ .......................................
1883
Northern. Pac. Terminal Co.—1st mort., gold ____
1883
Northwestern Ohio—Stock..... ....................................
....
79
Norwich <£ Worcester—Stock. ...........................; . . .
....
66
New bonds, coupon............................................. .
66 1877
Qgdensbury <£ Lake Champlain—Stock...............
118
Sinking fund bonds
. . . . 1870
Mortgage nonds (redeemable July, 1890).......... .
118 1877
Consolidated mortgage (for $3,500,000)............,
118 1880
Income bonds, not cumulative............. .................
1880
Ohio Oentrai—1st mortgage gold.......... ..................
200 1880
Income bonds (non-cumulative)............................
200 1880
Terminal mortgage bonds............................ .
200 1880
1st mort., Mineral D iv............... .............. .............
26 1881
Incomes,”
do
............. ..............................
26 1881
1st mort., Riv. Div., gold, coup, or reg................
1882
do
gold, incom es..... ................
1882
Car trust certificates, No. 1..... .............................
1880
do.
No. 2 . . . ............................
__S8S 1882
Ohio <6Mississippi—Stock, common........................
615
....
Preferred stock (7 p. c. yearly, cumulative).......

$100 $1,000,000
4
100 &c.
169,000
6
100 &c.
200,000
7
M. & S.
100 41,749,463 lU iocert
100 49,00u,000
100 &c.
2,388,600
6
M. & N.
3,502,600
6
M. & S.
l,Ò0Ó&c 40,378,500
6 g. J. & J.
l.OOO&c
(?)
....
4,667,490
6
Jan’y.
1,000
3,000,000
6 g. J. * J.
....
2,000,000
100
2,604,400
5
J. & J.
1,000
400,000
6
M. & S.
100
3,077,000
2
J. & J.
1,000
371,000
8
M. & S.
1,000
600,000
6
J. & J.
500 &e.
1,403,610
6
A. & O.
100 &e.
998,650
3 & 6 A. & O.
1,000
3,000,000
6 g . J. & J.
1,000
3,000,000
7
1,000
600,000
6
J. & J.
1,000
300,000
6 g. J. <fc J.
1,000
300,000
7 g. I. & J.
1,000
7,000,000
6 g. M. & S.
1,000
37700,000
6 g.
360,000
8
M. & S.
.. .
1,750,000
10
M. & S.
100 20,000,000
100
4,030,000
3*2 M. & S.

New York Office.
In 1882
J. City, Hudson Co. B’k. July, 188$
do
do
March. 1880
N. Y., Mills Building. Jan. 15, 18831
do
do
do
do
'
N.Y., Winslow,

May 1,
do
Sept. 1,
do
Jan. 1,
do
do
- Jan. 1,
L. & Co Jan. 1,

1919*
1919b
1921:
188$
1933t

July 10, 1885:
Boston, N. È. Trust Co. March 1, 189T
Boston, Office,
July 1 0 ,1 8 7 «
do
Mar., 1890
do
. 1897
do
April 1,1920»
do
April, 1920
Jan. 1, 1920»
do
do
Jan. 1, 1920
do
do
July 1, 1920
do
do
July I , 1 9 2 1 .
do
do
July 1. 1921
do
do
March, 1922:
do
do
Mar 1 ,1 92 2
$10,000 p. m
10 p. c. yearly,.
N* Y., 52 William St.

Mar. 1, 1875,

Northern o f New Jersey.—Owns from Bergen, N. J., to Spar- earnings $1,523,112 were derived from the transportation of construekill, N. Y., 21 miles; leased Sparkill to Nyack, 5 miles; total oper­ tion
material, leaving $6,332,347 as the actual gross receipts:
ated, 26 miles. This road Was opened October 1, 1859. By contract
r o a d a n d e q u ip m e n t .
of April, 18.69, it is operated by New York Lake Erie & Western at 35 per
cent of its gross earnings. It is understood the contract is terminable
188C-81.
1881-82.
1882-83«.
by either party on notice. Dividends are paid as earned on the rental. Miles operated June 30.
754
1,298
1,701
Earnings (whole line)—
Gross earnings in 1881-82, $287,108; net, $83,062.
$
$
Passenger... , . . . . . . 7......
668,621
1,302,261
2,099,74®
Freight................
..........
.
2,207,299
3,909,423
• Northern Pacific.—(See M a p . ) — L i n e o f R o a d — On the completion
5,409,081
118,599
218,621
of the mam line Sept. 8,1883, the mileage on which earnings were re- Mail, express, &c............
346,632
ported became 2,365, which was made up as follow s: Main line—Super­
T o t a l ...:........ . . . . ..
2,994,519
5,430,305
ior City, Wis., to Wallula Junction, Wash. Ter., 1,679 miles; St. Paul
7,855,450
2,025,389
3,572,839
Minn., to Brainerd, Minn., 135-5; New Tacoma, Wash. Ter., to Kalama.’ Operating expenses. . . . . .
5,336,930
Wash. Ter., 105-5; New Tacoma, Wash. Ter., to Carbonado, Wash. Ter
1,857,466
34; grand total. 1,954 miles. Branches—Superior City, Wis., to Connor s Net e a rn in g s ......................... , , .969,130
2,519,52»
Point, Wis , 3-5 miles; Thomson Junction, Minn., to Duluth, 24; Little Per ct. of oper. exp. to eamin’s
' 67*64
65-80
67-na
Falls, Minn., to Morris, Minn., 87-8; Wadena Junction, Minn., to end of ~ <7* 22b Pi 3 45’ 7 i ’ 103> 182> 213* 237. ,266, 321, 339, 3
» »4a5 , 405.
auo
track, Minn., 115*5; Fargo, Dak., to La Moure, Dak., 82; Jamestown, 431, 478,546, 577, 638, 658, 677, 706, 737, 763; V. 36, p. 196,' 399'"
Dak., to Carrington, Dak., 43-5; Livingston to Yellowstone National 675, 699, 731; V. 37, p. 189, 294, 3 1 8 , 333, 397, 400.)
P
Park, Mon., 55; total branch lines, 411*3 miles ; total main line, 1 954
Northern Pacific Term inal Co.—This company owns terminal
miles. Grand total in operation, 2,365-3 miles. The road from Thomp­
son Junction, Minn., to Duluth is owned jointly with the St. Paul & facilities which are leased for fifty years to the Northern Pacific RR ■
Duluth. In addition there were in progress 30 miles on the Jamestown the Oregon Railway & Navigation Co. and the Oregon & California RR*"
Branch, 41 miles on the Kalama Division, and 60 miles eastward from witn a guaranteed rental sufficient to pay interest, sinking fund anil
Superior, on the Wisconsin Division. From Wallula Junction, Wash. Ter taxes. The sinking fund begins in 1893 and is to be sufficient to retira
to Portland, Oregon, the road of the Oregon Railway & Nav. Co. connects’ the bonds by maturity. The stock of $3,000,000 is owned by said three
O r g a n i z a t i o n .— This company was chartered by act of Congress Julv companies (40 per cent by Oregon R a ilw a y* Navigation Co., 40 m i2,1864, to build from Lake Superior to Puget Sound and Portland, Or. cent by Northern Pacific and 20 per cent by Oregon & California RR \
The land grant was 20 sections per mile in States and 40 sections in and held by Central Trust Co. of New York, to be delivered after pay*
v ■*
Territories. The road was opened 450 miles west from Duluth—to Bis- ments to the sinking fund which is to cancel the bonds.
°u tb© Missouri River—in 1873. The company defaulted Jan.,
Northwestern Ohio.—Owns from Mansfield to Toledo, Ohio 8®
1874, and the road was foreclosed August 12,1875, and reorganized bv miles, but leases 7 miles to Pittsburg Fort Wayne & Chicago RR Tiri»
the bondholders’ committee Sept. 29,1875. To the bondholders new was a consolidation of the Toledo Tiffin & Eastern, the Mansfield" Coldpreferred stock was issued at the rate of $1,400 for each $1,000 bond water & Lake Michigan and the Toledo & Woodville roads. Leased to«
and overdue interest.
'
Pennsylvania Company at cost of operating. In 1881 “toss earnings
S t o c k s a n d B o n d s .— The preferred stock was issued to old first mort­ $290,285 ; net, $47,158. In 1882 gross, $272^742; n et;$ 2 7 ;i6 0
88
gage (7-30) bondholders for their bonds and overdue interest, and has a
N o r w ic h & W o r c e s t e r .—Owns from Norwich, Conn., to Worpreference for 8 per cent in each year if earned, but' is not cumulative cester.
59 miles; branch: Norwich to Allyn’s Point, 7 miles*
The common stock then takes 8 per cent, and after that both share alike- total, 66Mass.,
miles. To be extended to Groton, Conni In 1869 the roaà
The common stock was mostly held by the original projectors and their was
leased
to
the Boston H artford* Erie for 100 years, the lessee»
associates prior to the default of 1874, and did not represent capital to pay all liabilities
and 10 per cent on the capital stock. The present,
expended. The preferred stock is received in payment for the company’s lessee company has the
option to terminate the lease, and now operate»
lands east of the Missouri River at par. These lands remaining yet un­ under temporary agreement. In the fiscal year ending Sept. 30 1882
sold are about 3,000,000 acres, and the proceeds of these lands when sold
th+
a^°j8
i.=«oeipJ8
w!?re
$368,601
; payments for rentals, $37,210 ; inter­
for money or on time also go to the retirement of preferred stock.
est, $24,659; miscellaneous, $8,153 ; dividends (10 per cent), $259,780In February, 1881, parties interested in the Oregon Navigation & surplus
balance to lessee, $38,799. (V. 3d, p. 724.)
’
‘
Railroad Co. purchased a large interest in the stock. (151,300 shares of
O g d e n s b u r g & L a k e C h a m p la in .—Owns from Rouse’s Point»
preferred and 162,792 of common), which is held by the “ Oregon &
f\- X-, to Ogdensburg, JS. Y., 118 miles. The earnings of the road
Transcontinental Co.”
&
decreased, certain terms of adjustment were proposed in 1880 a dividend, in certificates of l l i 10 per cent, amounting
to $4,667,490, was declared on the pref. stock payable Jan. 15, 1883. which have been substantially carried out. Annual report for fiscal year*
ending
March
31,1883, in V. 36, p. 623. Operations and ear^ngs fon
•
in fe r r e d stock since 1879 have been: In 1880, 393s®67*2;
S A 8*81’ £4^ ® 8818; in 1882, 6634a 100%; in 1883, to last Saturday, 56 three years past werejas follows :
Passenger
Freight (ton)
Gross
@9058. Common stock: In 1880, 20@ 36; in 1881, 32% @51; in 1882. Years.
Nek
Miles.
Mileage.
Mileage.
28% @543s; m 1883 to last Saturday, 231s@5318.
Earnings. Earning*.
1880-81
...
122
3,228,371
26,970,096
On the Missouri Division and Pend d’Oreille Division the bonds of those 1831-82
$534,039 $176,41»
..
.
122
4,846,825
32,933,476
609,324
divisions respectively are received at par in payment for lands, and have
170,854
1882-83 ___. . . .
M ...
a hen on the proceeds of lands sold.
642,196. 191,438
„T h e first mortgage bonds issued in 1881 are a first lien on the main line - ( V . 36. p. 212, 6 2 2 ; V. 37, p. 167.)
from Superior Wis. to Wallula Junction, 1,679 miles; Tacoma to Kalama,
O M o C e n tr a l.-T h e road extends from Toledo, Ohio, to the Ohio10512; Kalama to Portland, 42; Tacoma to Carbonado, 34; Superior to River at a place opposite to Point Pleasant, 257 miles (including in thia
Ashland, Wis., 60 miles, under construction; total, 1,920 miles; (and 16 miles of track used under rental) and from Point Pleasant to West*
upon the Cascade Division, 275 miles, if constructed); and on all the Virginia, 58 miles, with branches from Hadley Junction, Ohio, tab
lands of the company except those subject to the two divisional mort­ Columbus, 24 miles; Mineral Division, South Shawnee to Corning. 2»
gages and those lands east of the Missouri River which are subject to the miles; and Switch to Buckingham, 11 miles; total line, 375 mile«- o f
preferred stock, unless default is made on the first mortgage bonds, in which about 325 miles were completed on January 1,1883, and th e
which case those lands east of Missouri River also become subject to the
first mortgage. The issue of bonds is limited to $25,000 per mile, and in byO ctoberri883ailt£ briclse oyer the OMo JRiver were about finished
October, 1883,1,874 miles finished warrant the issue of $46,850,000
The. stock wasi $4,400,0 0 0 -p a r $ 100-and in January, 1881, the com-,
bpnds, less $6,481,000 prior bonds on the Missouri and Pend d’Oreille pany increased it to $12,000,000 for improvements, Ac., and to buy tha
divisions. When completed to Ashland, Wisconsin, in 1884, about 46 ®4©ck °4 the Ohio Central Coal Co., and further increased it to $22,000,miles further, $1,150,000 more bonds can be issued. No more of the pro­ i * iP *P82 an<4 1883- In June, 1881, consolidation with the Richmond
jected road is likely to be built immediately. The proceeds of land sales & Alleghany was voted, and new stock and bonds
extension worn*
can be applied to the payment of interest on bonds, instead of principal, subscribed. But in January, 1882, this plan was abandoned and con if the earnings of the road are insuificient. Central Trust C
o . ooff N. Y
Co.
Y.. solidation was made with the Atlantic & Northwestern of Virginia and
is trustee. The bonds are received in payment for lands at 110 and the lme projected to Charleston, West Va. Of the River Division Isfc
interest, and proceeds of land sold must be applied to redemption of mortgage bonds $300,< >00 are reserved to exchange for Mineral Division,
these bonds at a price not exceeding 110 and interest. Sinking fund of 1st mortgage bonds, dollar for dollar, and $150,000 for Mineral D ivision
one per cent per annum.begins in 1886.
incomes, two bonds for one of River Division. There were also $3,000.« ¡ o ^
1883, the second mortgagejwas authorized to be made for 000 of these bonds reserved to exchange lor bonds of the Ohio Centra*’
to tim°compan£ wlucl1 $18>000>°00 were taken by a syndicate at 82*2 net 6 0 « Company, but the exchange was not carried out. Holders of R iver
Division 1st and income bonds are entitled to ten votes at all stock­
_ O p e r a t k i n s a n d F i n a n c i a l C o n d i t i o n .—The fiscal year ends June holders meetings ici- each $ 1,000 bond held.
annual
l ° r 1882-83 was published in Y. 37, p. 38, to _ On September 1st, 1883, default was made on the interrstof the R iver
wbicb reference should be made for a statement of the progress of the Division mort. bonds, and Mr. John E. Martin was appointed receiver 3 ° ^ during that year and its general condition. To pay the
Annual report in V. 37. p. 150. Gross earnings in 1882 on 270 mile*
floaung debt and complete the work, the'directors issued the second
Payments, $3»7,800; deficit, $3o“ o3~
mortgage bonds October, 1883. The business for 1883-84 can not be lift
P* 132, 3-0, 339, o»7, 5 /7 ; V« 30, p. 140; V, 37 d 1 Aft
* P> 1
estimated with certainty, but gross earnings since July show a large 213, 233, 235, 295, 32l| 375, 400.)
®al'bmSs have not been published. The annual report in
m s s is s ip p i.-O w n s from Cincinnati, OMe, to East Ste
c h r o n i c l e had the following statement of earnings, and of, the gross
Louis, 111., 340 miles; Louisville branch, North Vernon to Jefferson»^




RAILROAD
STOCKS AND
BONDS.
{V o £ X X X V I I




RAILROAD

OCTOBEB, 1888.]

STOCKS AKT) ROKDS.

61

Subscribers w ill confer a great favor by giving immediate notice o f any error discovered in these Tables»
DESCRIPTION.
lyn ut vutu.1ti il uccU-iiJi^ö)
on first page of tables.

Bonds—Princi­
INTEREST OR DIVIDENDS.
Miles Date Size, or
pal,When Due.
Amount Rate pèr
- of
of
Par Outstanding
When Where Payable, and by StqcJcs—Last
Road. Bonds Valtie.
Cent. Payable
Whom.
Dividend.

Ohio & Mississippi—( Continued)—
1st general mortgage (for $16,000,000)........... .
■Income and funded debt bonds (extended, ’82)...
1st consolidated mort. ($3,445,000 are s. f . ) ___
!' Consolidated mortgage, sterling........ ................... .
2d consolidated sinking fund m ortgage.. . . . . . __
Debenture sinking fund bonds (for $1,000,000)...
Spring. Div. (Spi&Ill. SE.) IstM. (for $3,000,000)
Ohio Southern—1st mort. ($15,000 per mile).......... .
2d mort., income ($15,000 per mile).......................
■Old Colony—Stock................................................ .
Bonds (not mortgage) coupon...................................
Bonds
do
do
and registered.....
Bonds
do
do
do
Bonds
do
do
do
Bonds
do
do
do
. . ...
Bost. Clin. F.& N. B., 1st M., Agricultural Branch".
do
mortgage bonds 1869-70__
do
b o n d s ...................... : . . . . . .
do
equipment notes........... . . . " .
do
b’ds, guar.by lease to Old Col.
Oregon <£•California—1st mort., gold........
Oregon Pacific—1st mort., land grant, g o l d .'
Oregon Railway <6Navigation—Stock......................
Mortgage bonds, gold___.............. _•.................... *."
Scrip ^certificates-................... ________
O^egonShortL.—lst,gld.,int.gu.byU.P.($25,6b6p.m)
Oregontf: Trans- Continental—HVhk (for $50,000,000)
Trust bonds, gold (IstM. collateral) $20,000 p.m..
Os wego <£Rome—1st mortgage guaranteed........ .
Income mortgage bonds......................... . . . . . . i ...

p ..

. 7.

'

■ “

■

’

-,

%«

624
148
393
393
393
....
222
128
128
463

1882
1862
1868
1868
1871
1873
1874
1881
1881
....
1864
1874
1875
1876
1877
1864
’69-’70
1874

$1,000
* <?>
1,000
$174.000
1,000
6,688,000
¿200
112,000
$1,000
3,829,000
1,000
140,000
1,000
2,009,000
1,000
1,920,000
1,000
1,920,000
100
9,840,852
lOOO&c.
32,000
___
1,000
1,692,000
....
1,000
500,000
1,000
1,100,000
1,000
2,000,000
*2*9
100 &c.
400,000
43
500 &e.
552,000
58
1,000
400,000
1,000
350,000
120 188*0
1,000
1,965,000
371 1881
1,000
7,400,000
. . . . 1880
1.000 25,000"p.m.
100 18,000,000
1*879
1,000
5,851,000
....
1,200,000
5*24 1882
1,000 12,500,000
....
100 40,000,000
1882
1,000
7,215,000
28 is 1865
1,000
350,000
1866
1,000
200,000

u u u -IXJ.XJ.V/0 f i n u o u i l l l g u c i u

Division, Beardstown to Shawneetown, 111., 222 miles ; total operated,
-615 miles. The Eastern and Western divisions were sold in foreclosure
and the Ohio & Mississippi Co. formed by consolidation Nov. 21,1867.
t
17’ 1876’ the company was placed- in the hands of receivers.
In, Oct., 1881, John M. Douglas was appointed Receiver, »ice King,
resigned. A suit is pending, brought to annul the purchase of the
Springfield Division in 1875 as fraudulent and void. The various phases
of litigation in regard to this company have been reported from time to
time in-the C h r o n t c l e , and the suit in which the preferred stockholders
'endeavored to establish their lien ahead of the second mortgage bonds
wqs decided }n the U. S. Supreme Court against them. (See article in
V. 37, p. 233.)
•
The new general mortgage for $16,000,000 is authorized under the
proposed plan of reorganisation, by which $12,784,000 will be reserved
to exchange for old bonds -as they mature; $2,216,000 will be used in
paying overdue coupons and all other claims; and $999.695 be expended
to » new equipment and terminal facilities. There are yet $97,000 of old
first mort. 7s (reduced to 6s). Western Div., outstanding. The terms of
preference of the prêt, stock are as follows : “ The pref. stock is to be and
remain a first claim upon thè property of thé corporation, after its
indebtedness, and the holder thereof shall be entitled to receive from the
net earnings of the company 7 per cent per annum, payable semi­
annually, and to have s ich interest paid in full for each and every year
before any payment of dividend upoti the common stock.” After pay­
ment of 7 pér cent for any one year on com., the surplus of that year
if any) shall be divided between both classes.
ThyC year ends Dec. 31. The annual election is held in October. The
-annual report for 1882 was in the C h r o n i c l e , V. 36, p. 194. Opera­
tions and earnings for three years,past :
, A ^ ars*
Miles.
Gross Earnings. Net Earnings
1880............7............................. 615
$4,376,310
$1,256,709
1-881.......... ................................ 615
4,074,407*
959,053
1 8 8 2 .................. . . . ................. 615
4,225,499
1,061,663
— (V. 35, p.103, 213. 405, 431, 456, 576, 706; V. 36, p. 82, 1 9 4 , 196,
313, 427, 526, 591, 675 ; Y. 37, p. 23,100,117, 233, 235, 267, 343, 376,
400, 4 2 2 , 424.)
. O lilo S o u t h e r n .—The road will extend from Springfield, Ohio,
t o some point on the Ohio River. Length of road completed and in
■operation June 1,1883: Springfield, Ohio, to Coalton, with extensions
135 miles. Stock (par $100), $3,840,000. Receipts,
1882 $359,283 ; net, $90,687 ; other sources, $29,812 ; payments,
-$120,084. Alfred Sully, President. (Y. 35, p. 5 1 ,1 0 1 ; V. 37, p. 151.)
O ld C o lo n y (M a s s .)—Owns from Boston to Provincetown, Mass.,
120 miles and lines to Kingston, Plymouth -and Somerset Junction
Mass., and to Newport, R. I.; total, 252 miles ; numerous branches,
50 miles in all ; leased—Boston Clint. Fitchb. & N. B., 125 miles ; Framing­
ham & Lowell RR., 26 miles; Fall River RR., 12 miles; Dorchester & Milton
R R .,3 miles; total length of all Unes,468 miles. FaU River RR. was
leased April 1,1882, for 99 years. In March, 1883, consolidation with
the Boston GUnton Fitchburg & New Bedford was made. (See terms V.
36, p. 251.) And an increase in stock to $12,000,000 was voted.
Operations and earnings for three years past were as follows :
_
,
Passenger Freight (ton) Gross
Net
Div.
Years.'
Miles. Mileage.
Mileage. Earnings.Earnings, p. ct
- 1879-80......... 453 89,502,519
51,169,628$3,518,769 $ 1,201,647 6
1880- 81...... 455 89,187,583 53,794,401 3,746,448 1,246,846 6
1881- 8 2 ...... 468 100,460,413 58,349,479 4,126,258 1,305,449 ehs
—(V. 35, p. 133, 5 44; V. 36, p. 251, 284, 445.)
O r e g o n & C a lif o r n i a .—From Portland. Or., to Roseburg, 198
miles; Albany Junction to Lebanon, 12 mUes; West Side Division, Port­
land to Corvallis, 97 miles. Total finished, 306 mUes ; to be completed
to. a junction with Central Pacific at the CaUfornia State line, 177
miles, of which probably one half will be finished in 1883. The present
Oregon & CaUfornia Railroad is a reorganization of the original Oregon
& CaUfornia, which company was in default after 1873. The land grant
is about 4,000,000 acres; bonds are receivable for lands. Preferred
stock is $12,000,000 ; common $7,000,000.
' In March, 1883, a contract for the eompletion of the Une, 177 miles
■(making 512 in all), was made with the Oregon Trans-Continental Com­
pany, the Trans-Continental receiving therefor $3,670,500 6 per cent 1st
mortgage bonds and $3,750,000 7 per cent 2d mortgage bonds. 1st
mortgage 6 per cent bonds to the amount of $20,000 per mile are to be
issued, and 2d mortgage bonds to the amount of $10,000 per mile, makm g a total of $15,360,000. The Oregon & California Railway was
leased to the Trans-Continental for a period of three years from January
1.1883, the latter company agreeing to pay all fixed interest and other
charges, and dividends at the rate of 2*2 per cent. The payments on
•account of interest due January 1,1884, and July 1,1884, to be made
by the Trans-Continental are estimated at $510,000, being the interest
.On an average amount of $8,500,000 of 1st mortgage 6 per cent bonds.
Per ?.ent> payable annually—will for 1883 amount
to $300,000. At the option of the lessees the lease may be extended for
a period of 999 years, the lessees agreeing to pay as rental 35 per cent
°|
farnings of the leased line, but guaranteeing the payment
o l all fixed charges, and dividends of at least 2 per cent annually. For
the guarantee of dividends thè Trans-Continental received an extra
allowance of $600,000' 2d mortgage bonds. For year ending March
§5» I®83, gross receipts were $1,016,496; net, $288,117; land sales,
$17,3o9. (V. 3o, p. 133, 577; V. 36, p. 252, 340, 591, 731.)




5
7
7
6 g7
7
7
6
6
3*2
5
7
6
6
6
6
7
7
6
5
6 S■
6 g.
2%
6 g.
8
6
1^2
6 g7
7

J. & D.
A. & O.
J. & J.
J. & J.
A. & 0. N. Y., 52 William St.
M. & N.
M. & N. Springfield. 111., 1Rt, NT R
J. & D. N.Y., Corbin RanlrVCn
J. & D.
do
J. & J.
Boston, Office.
M. & S.
M. & S.
J. & D.
do
M. & S.
do
F. & AÜ
do
J. & J? Bost., Old Colony Office.
J. & J.
J. & D.
Various
do
do
J. & J. Boston, N. E. Trust Co.
J. & J. N.Y., London & Frankf.
A. & O. New York and London;
Q.—F.
New York.
J. & J. N.Y., Farm. L. & Tr. Co.
M. & N.
do
do
F. & A. N. Y., 195 Broadway.
Q.—J.
M. & N. NY.,Farmers’ L.& T.Co.
M. & N. N.Y.,Farmers’ L.&T.Co.
F. & A. N. Y., Central Trust Co-

June 1, 1932
Oct. 1, 1883
Jan. 1, 1898
Jan. 1, 1898
April, 1911
May 1, 188R"
Nov. 1, 1905
June 1, 1921
June 1, 1921
July 2, 1883
Sept. 1, 1884
March 1,1894
June 1,1895
Sept. 1, 1896
Aug. 1. 1897
July 1, 1884
1889 & ’ 90
July 1, 1894
1883, ’85
Jan. 1, 1910
July 1, 1921
Oct. 1, 1900
Nov. 1, 1883.
July 1, 1909
1885-6
Feb. 1, 1922
Oct. 15, 1883
May 1, 1922
May, 1915
Feb., 1891

Oregon P a c i f i c .—Road in progress; projected line, 600 mUes of
which 60 miles, from CorvaUis to Yaquima, is under construction Land
grant, over 900,000 acres, and covered by first mortgage. Stock is
$30,000 per mile. G. T. M. Davis, Treasurer, New York:
Oregon R ailw ay & Navigation.—June 30, 1882, railroads oper
ated were as follows: Boonev. to Walla Walla (main line) 203 miles:
branches, Walla] Walla to Texas Ferry, 56 miles; BoUe’s June, to Davtom
14 miles; Whitman to Blue Mountain, 14 miles; Umatilla to Pendleton
44 miles; Portage Read to Lower Cascades, 6 miles; Oregonian Railroad
in Willamette Valley (leased), 150. miles; total of railway, 487 miles and
243 more under construction. Ocean line between San Francisco and
Portland, 670 m iles; Puget Sound lines, 238 miles; River lines 667
miles; total of water lines, 1,565 miles.
The company has pursued the policy of increasing its capital stock toraise money for improvements, and a further, increase to $24,000 OOO
made during 1883 to stockholders of record Dec. 19,1882. See annual
report in V. 35, p. 484, showing net income in 1881-2 of $2,516164
and surplus over 8 per cent dividends of $649,061.
The managers purchased in February and March, 1881, a large
interest in the common and preferred stock o f the Northern Pacific
Railroad with cash furnished by a syndicate, and the stock control o f
both companies was transferred to the Oregon & Trans-Continental
For seven months of 1883 gross earnings were $3,875,202 ' net
$1,876,835; against gross in 1882, $3,771,244, and net, $1,843.216. <V*
35, p. 213, 374, 4 5 7, 472, 4 8 4 , 602; V. 37, p. 331.)
1 *
Oregon Short Line,—Road in progress from Granger on the Union
Pacific, (156 miles east of Ogden, to a junction with the railroad of the
Oregon Railway & Navigation Co., at Snake River near the line between
Idaho and Oregon, about 523 miles, with Wood River branch to Haily
57 miles. Total about 580 miles. The road was practically finished
November, 1883. The contract between the Oregon system and the
Northern and Union Pacific for future traffic is reported to be advan­
tageous to the Union Pacific, since the business of Oregon is to be
divided between the Northern and Union Pacific in proportion to the
traffic they deliver to the Oregon road, and officials of the Union Pacific
claim that their shorter distance between Oregon and Chicago, and
other points eastern, southern and western, in connection with a better
winter route,4they will obtain at least one-half of the Oregon business
Built undel Union Pacific control, and interest on the bonds guaranteed*
One $1,000 bond and $500 in stock sold to Union Pacific stock­
holders for $1,000 cash. The stock is $25,000 per mile, of which Unibit
Pacific retains one-half. (V. 35, p. 2 2 ,43 1 ; V. 36, p. 109; V. 37 t> 202
236,376, 400.)
.
’
’
Oregon & Trans-Continental.—Company organized under the
laws of Oregon on June 27,1881, and received from the “ Villard Pool”
an assignment of the stock of the Northern Pacific Railroad purchased
by it. The company’s object is to hold the stocks of the Oregon Railway
Navigation Co. and the Northern Pacific, and to construct connecting
rhads, and on June 30, 1883, it held $12,853,500 of O. R. & Nav Co
$15,130,000 N. Pac. pref., and $16,279,200 N. Pac. common. The total
authorized capital is $50,000,000. The bonds are secured by deposit in
trust of first mort. bonds on new branch railroads, at $20,000 per mile
“ The payment of the principal and interest of the bonds of these
branch roads is further secured by traffic contracts with the Northern
Pacific RR. Co., guaranteeing (after lapse of two years) a minimum
net annual income of $1,400 per mile, being equal to 6 per cent per
annum on $20,000 per mile of bonded indebtedness, and a sinking fund
charge of one per cent.” In March, 1883, this company leased the
Oregon & California road od the terms mentioned in V. 36, p. 310.
Quarterly dividends began in Jan., 1883, at l 1^ per cent. Since the
stock was listed on the New York Stock Exchange, in Dec., 1881, the
priees have been as follow s: In 1882, 60098% ; 1883 to last Saturday.
34Lj@89.
An article in the C h r o n i c l e , V. 37, p. 331, gave a n analysis of the
company’s position, in which it was remarked that the Oregon Trans­
continental is the most complicated of the Villard companies. The com- >
pany controls the Oregon Railway & Navigation Company, and also the ,
Northern Pacific Company, and has a lease of the Oregon & California
Railroad. It is, besides, engaged in building branches or feeders to the
Northern Pacific, on which it issues its own collateral trust mortgage
bonds. It will be seen that the position of the company is somewhat
unique, since it depends almost exclusively for its income upon the return
it receives upon its holdings of the properties controlled. The annual
report for the year ending June 30, 1883, was in the C h r o n i c l e , V . 37,
p. 74. A general balance sheet was there published giving details o f
assets and liabilities, and the following estimate of the available income
and profits for the year 1883-84:
Balance of profits brought forward from last year.......... ......$2,880,895
Dividends on Oregon Railway & Navigation stock.. . . . . . . . . . . 1,190,262 '
Estimated dividends on Northern Pacific preferred stock... . 1,210,400 V
Total....................................................... ............. ................... $5,281,557
“ In addition there will be available income from loans and con­
struction profits, to be realized during the current fiscal year.” (V. 35 p. 1 8 8 , 374, 393; V.-36,p. 110,340; V . 37, p. 7 4 , 331.)
Oswego & Rom e, —Owns from Richland, N. Y., to Oswego, N Y
29 miles. Road opened January 1,1866. It is leased to the Rome
Watertown & Ogdensburg Railroad at 8 per cent on its stock ($300.0001
and 7 per cent on guar, bonds,
v
■

RAILROAD

« 3

STOCKS AND

BONDS.

[V o l . X X X V I I .

Subscribers w ill confer a great favor by giving Immediate notice o f any error discovered In these Tables.
Bonds—Princi­
DESCRIPTION.
INTEREST OR DIVIDENDS.
Miles Date Size: or
Due.
Amount Rate per When Where Payable, and by pal,When
¡For explanation of column headings, &c., see notes
of
of
Par
Stocks—Last
on first page of tables.
Road. Bonds Value. 02tstondlng Cent, Payable
Whom.
Dividend.'
“Oswego <6 Syracuse—Stock, 9 per cefit guar.............
Mortgage bonds.........................................................
Consol, mortgage (guar. D. L. & W .)......................
Owensboro <&Nashville—1st mortgage, gold.............
Painesvulc & Youngstown—1st mortgage...............
2d mortgage, income, convertible.........................
‘ Panama—Stock......................... . ...............................
General mortgage, sterling, (£1,000,000).............
Sinking fund subsidy, gold.......................................
^Paterson & Hudson—Stock................ .........................

50
35
35 58&è4 500 &c.
1,000
1876
1,000
123 1881
65 1879 500 &c.
65 1879 500 &c.
100
48
£200
48 1867
48 1880
1,000
15

__

Oswego Sc S y r a c u s e .—Owns from Oswego, N. Y., to Syracuse,
N. Y,, 35 miles, ceased in 1868 to tlie Delaware Lack. & West. RR. Co.
for £f per cent per year on stock and interest on bonds; in 1880-’81 sur­
plus to lessee was $21,839. In 1881-82 gross earnings, $477,254 ; net,
$199,020.
Owensboro & Nashville.—Owns from Owensboro, Ky., to Rice•dale. Ky., 44 miles. Controlled In 1879 by the Nashville Chattanooga*
& St. Louis, and now operated by Louisville & Nashville Railroad,
which owns a majority of the stock. Gross earnings for 1882-83 $56,
335; net, $6,415. Stock is $1,156,517. (Y. 35, p. 677.)
JPainesville & Yougstow n. —Owns from Fairport. Ohio, to
Youngstown, Ohio, 65 miles. The old company made default, and
road was sold in foreclosure June 2,1879. Under the reorganization
bonds are issued as above, and the stock is $288,000. The income bonds
have votes, and are convertible into stock. - The road went into the pos­
session of new managers in 1881. On Jan. 1,1882, defaulted on 1st
' mortgage coupons, and R. K. Paige appointed receiver. Foreclosure
'.proceedings pending. (V. 36, p. 358.)
Panama.—Owns from Aspinwall to Panama, 48 miles. Opened
through January 28, 1855. This road had a practical monopoly
o f the California business till the opening of the Pacific Railroads in
*1869. Of the general mortgage bonds $1,000,000 fall due in ten halfyearly payments beginning 1884 and balance ($2,989,000) in October,
-1897. The $2,908,000 subsidy bonds are secured by a pledge of the
sum of $225,000 annual subsidy payable to theU. 8. of Colombia by
the company. In June, 1881, most of the stock was sold to paiiitb
interested in the De Lesseps Panama Canal Co. The report for 1882 was
in V. 36, p. 426. (Y. 35, p. 638 ; V. 36, p. 426.)
Paterson

&

1.320,400
124.000
338.000
2,000,000
400,000
1,000,000
7,000,000
3,989.000
2,908,000
630,000

4%
7
7
6 &•
7
7
7
7 g.
6 g4

F. & A. N. Y., Del., L. & W. RR.
M. & N.
do
do
M. & S.
do
do
M. & N.
New York.
J. & J. New York, Agency.
do
do
J. & J.
Q.—F.
New York, Office.
A. & O.
London.
M. & N.
New York.
J. & J.
New York.

Aug., 1883
1880 & 1885
1907
Nov. 1, 1931
Jan. 1, 1910
Jan. 1, 1915
June 25,1883
’84 to ’89 & ’97
Nov. 1, 1910
July 3, 1883

GENERAL INCOME ACCOUNT— (PENN. RR. CO.)

XOOA.
Net income Pennsylvania RR. Division........ $10,131,718
Net loss New Jersey Division .......................
302,865

1882. $10,768,563
568,758

B alance,.______ _: ..................... , ............... $9,828,853
Deduct—
‘
Payments to trust fund.............. ............. . . .
$600,000
Consolidated mortgage redeemed...................
286,480
Baltimore & Potomac Railroad—Advances..
143,332
Shamokin-Coal Co.—Advances..... ..................
7,000
Phila. & Erie—Deficiency in interest..... ........
175,973
Allegheny Val. RR.—Deficiency in interest..
242,621
Do
Advances.....................
157,464
Sunb. Haz. & Wilkesb.—Deficiency in int___
50,000
Fred. & Penn. Line RR.
do
15,000
Am. 88. Co.—To meet int. guar, by Penn. RR.
90,000
Do
Advances,............. .‘...................

$10,199,805

Balance to credit of income account.
Dividends...................... ....... ...........

$600,000
282,810
3,500
257,384
361,591
50,000
15,000
90,000
25,000

$1,767,870
$1,685,285
$8,514,520
$8,060,983
(8) 5,861.718 (8*2)6,890,715

Balance to credit of profit and loss for year.. $2,199,265
Add from settlement of old accounts, &e-...
350,866

$1,623,805
226,755

$2,550,131
7,793,949

$1,850,560
10,344,079

H udson. —Owns from Jersey City, N. J., to Pater­ Add am’nt to credit of profit and loss Jan. 1.

son, N. J., 15 miles. The road was opened in 1834, and leased
in perpetuity September 9,1852, to the New York & Erie, at a rental of Balance to credit of profit and loss Dec. 31.. $10,344,079 $12,194,639
.$48,400 per year. J. S. Rogers, President, New York City.
The monthly range in prices of Pennsylvania RR. stock in Philadelphia
^ P e n n s y lv a n ia .—Dec. 31,1882, the mileage operated east of Pitts- have been:
1882.
1883.
1882.
1883.
•burg & Erie, on which earnings as reported were based, was divided as
62%- 59% 6 1 V 59% J u ly ..'... 625s- 585s 5 9 V 57
follows : Pennsylvania Division and branches, 1,264;- Philadelphia & Jan____
August..
6
2
V
61%
5
8
V 56%
Feb.......
6
1
V
58%
6
1
V
59%
Erie Division, 287; United Railroads of N. J. and branchés, 430; total
operated, New York to Pittsburg, with branches, 1,981, The operations March. - 64 - 59% 62%- 60% Sept’b e r. 6 5 V 62% 59%- 57%
April
...
6
3
V
60%
6%%62
O
ctober.
6
4
V
63
....................
•of the Pennsylvania Railroad cover so large a field that a reference to
■¿the annual reports published in the Chronicle is necessary to give M ay___ 60%- 55% 63%- 56% Nov’ber . 6 3 V x 5 6 % .......
June___ 5 8 V 53% 60%- 57% Dec’ber.. 60%- 59 . . . . . . . . . . . . .
'any adequate idea of its working and condition from year to year.
The total cost of stocks and bonds of other companies owned by Penn­ - (V. 35, 22, 51, 132, 161, 236, 358, 374, 431, 487, 517, 603, 625, 763 ;
sylvania Railroad was $81,037,668, and the par value $112,657,206, Y.-36, p. 109, 253, 265, 2 8 0 , 332, 366, 480, 510, 591, 652, 707, 731 ;
In March, 1881, the company purchased 217,819 shares of the Phila­ V. 37, p. 23, 202, 343.)
delphia. Wilmington & Baltimore RR., and the directors authorized the
issue of $20,000,000 new stock of the Pennsylvania RR. In July, 1881,
Pennsylvania Company.—The Pennsylvania Company is a cor­
the 4 per ct. bonds secured by P. W. & B. stock were issued, and they are poration chartered »by the Pennsylvania Legislature, April 7,1.870, dis­
purchased vearly at not over par with the surplus proceeds of Ph. W. & tinct from the Pennsylvania RR., and operates all the leased lines west
Baltimore dividends paid to the trustees, and not needed for the pay­ of Pittsburg. The stock is owned by the Pennsylvania RR., and in 1880
ment of interest. A scheme to buy up the company’s guaranteed the common and preferred were merged into one class of stock, mak­
securities with $100,000 per month from earnings is in operation, and ing $12,000,000, which was increased to $20,000,000 prior to the issue
the entire amount paid by the coe. >>any into the Trust up to the end of of the bonds in May, 1881, of which the authorized issue is $20,000,1882 was $2,500,000. There had been purchased for the fund securi­ 000. The whole number of miles operated or in any way controlled
ties of the par value of $2,761,050, which yield an interest of 7 1 0 per by this company is 3,547. The income account of the Pennsylvania
cen t per annum upon the investment.
Co. for 1880 and 1881 was as follow s:
The collateral trust loan of 1883 is secured by the deposit of mortgage
1880.
1881.
1882.
bonds of subsidiary lines to the par value of $12,500,000.
Net earnings Union Line Bureau, and
In May, 1883, the dividend was declared 2 in cash and 2 in scrip,
for rents, real estate, and equipm’t. $848,725 $762,597 $394,967
^redeemable in cash on delivery or convertible into stock prior to Aug. 1,
Profits from operating leased roads—
1883, and stockholders of record April 30, 1883, wérealso given the
■privilege of subscribing for new stock to the extent of 4 per cent of their Pittsburg Fort Wayne & Chicago....... 1, 589,545 1,715,694 1,377,436
71,226
82,176
45,835
New
Castle & Beaver Valley...............
•holdings ; the amount of stock, as given above, includes this 6 per cent
7,924
16,427
6,868
Lawrence.............
i. . . . . . —
increase.
456,786
474,951
307,378
Cleveland
&
Pittsburg.
....................
An abstract of the latest report issued, that for 1882, was published in
681,207
577,697 1,049,349
( the Chronicle (V. 36, p. 280), showing surplus net income of $1,623,805 Received from investments...............
. after paying all charges and 8% per cent dividend.
Total revenue.........................$ 3 ,4 0 1 ,4 3 9 $4,074,508 $2,990,827
For eight months of 1883 gross earnings on all lines east of P. and E.
Deduct—
were $33,258,909, net $12,154,182; against $31,471,176 gross and
Expenses, interest and operating
- $11,870,075 net in 1882.
leased lin e s ................ I ....... ........ 1,024,952 1,208,325 1,122,943
A summary of the total business of 1882 in tonnage, passengers and
; income, compared with preyious years, is shown in the following :
Net income........ .'................. . . . . . ....... $2,376,487 $2,866,183 $1,867,883
AL L LINES EAST OF PITTSBURG & ERIE.
D educt dividends on stock.. ...............
480,000 1,000,000
800,000
1879.
1880.
1881. *
1882.
Gross earnings........ $34,620,279 $41,260,073 $44,124,182 $49,079,834
Balance surplus for the y ea r.......$1,896,487 $1,866,183 $1,067,883
Operating expenses. 20,382,740 24,625,048 26,709,809 30,647,405
The registered bonds are secured by deposit of $4,000,000 of Pittsb. Ft.
Net earnings . . . . $14,237,539 $16,635,025 $17,414,373 $18,432,429 Wayne & Chicago special stock. The gold bonds of 1921 are secured by
a deposit in trust of the leases of the Pittsb. Ft. Wayne & Chic, and the
EARNINGS, &C., ALL LINES EAST AND WEST OF PITTSBURG & ERIE.
Cleve. & Pittsb. railroads and are also guaranteed by the Penna. RR.
1879.
1880.
1881.
1882.
Co. The trustees of the mort. are Wistar Morris, Edmund Smith and S.
Gross from traffic ... $60,362,575 $70,764,062 $75,182,973 $79,889,068 M. Felton. They were issued to supply funds for purchasing the C. C.
Operating expenses. 35,639,794 42,179,485 46,243,277 50,737,534 & I. C. bonds and other purposes, and the whole authorized issue is $20,000,000. The sinking fund is 1 p. c. per ann. if the bonds can be bought
Net earnings . . . . $24,722,780 $28,584,576 $28,939,695 $29,151,534 at par. (V. 35; p. 1 0 1 ; V. 36, p. 110, 4 7 9 , 6 7 3 ; V. 37, p. 98.)

[ In the work of completely revising the tables and remarks of the I nvestors’ Supplement, progress had been made to
this point prior to the October issue. The revision will be carried forward and probably completed for the next number of the
-S upplement, which will be issued in due course on Saturday, December 29.]




RAILROAD STOCKS AND

OCTOBBE, 1883.J

63

BONDS.

Subscribers w ill confer a great favor by giving immediate notice o f any error discovered In tbese Tables.
Bonds—P rin ci­
DESCRIPTION.
INTEREST OR DIVIDENDS.
Miles Date Size* or
pal, When Due,
Amount Rate per When
For explanation of column headings, &c., see notes oí
of
Par
Where Payable, and by Stocks—Last
Outstanding
Road. Bonds Value.
on iirst page of tables.
Cent. Payable
Whom.
Dividend.
Pennsylvania—Stock........ .................... ......................
Gen. M., Pb. to Pitts., coup., J. & J.; reg., A. & O’.
State lien (pay ’tie m annual inst’lm’ts of $460,000)
Consol. M., coup. J. & D., & reg. Q.—M. (S. f. 1 p. c.)
Consol, mortgage, gold........................ ..................
’Bonds, reg. (P.W. & B. stock deposited as collat’l)
Collateral trust loan (coup., but may be reg.).......
Car Trust certs, (in series payable Loth yearly)..
Navy Yard bonds reg. (extended 20 years in ’81)
Pennsylvania Company—S t o c k . ............. .
Reg. bonds, secured by P. Ft.W.& C. special stock
Bonds, gold, secured by pledge and guarantee....
Pennsylvania <£ New York—1st mort., guar.............
1st mortgage, guaranteed.......................................
Pennsylvania Schuylkill Valley—S tock ....................
Peoria <£ Bureau Valley—Stock..............................
Peoria Decatur <6 Evansville—Stock......................
J st mort., gold (Pekin to Mattoon).......... ............
Income bonds,
do
_ not accumulative
1st mortgage (Evansv. D iv.)..................................
Income bonds (Evansv. Div.), not cumulative__
Peoria <£■Pekin Union—1st mortgage, gold, coupon
Income mortgage, n on-cumulative, gold___. . . . . .
Perkiomen—1st m ortgage.,........................../.___
Consol, mort., gold, guar. P. & R., (sink. fu n d)....
Peterborough (N. H.)—Stock......... ............................
Bonds (not mort.), redeemable after 1882 ............
Petersburg—Stock......... £......... ...... . . . . ___ .. . . .. . . . . .
1st mort. bonds (payable $25,000 yearly).......... .
"Bonds, class A . . . . . . ............................... ....... ...... ...
Bonds, class B ...........................................................
Philadelphia <£ Balt. Central—stock............... . . . . . .
1st mortgage (for $2,500,000)..................... ..........
Westchester & Phila., 1st mortgage..........
Philadelphia <£ Erie—Stock, common...............I........
Preferred stock........... ...................... .......................

1,887
....
....
....
57Ï
........
....
3,547
....
105
105
47
254

20
20
• 38
38
11
63
82
83
83
27
287

$50 $90,419,378 2 ife 2s. M. & N. Philadelphia, Office.
May 29,1883
6
1,000 19.999.760
Q.—J. Philadelphia & London.
1910
5
3,275,909
A. & O. Philadelphia, Office.
Annually.
1873
6
Q.—M. Philadelphia & London. June 15,1905
1.000 28,041,250
1879
1,000
5
J. & D. Philadelphia & London. Dec. 1, 1909
5,000,000
1881
4
J. & J.
9,571.000
do
do
July 1, 1921
1883 - 1,000
4% J. & D.
5,000,000
do
do
June 1, 1913
1,000 - 5,600,000
5
Q’rt rly
Philadelphia.
3891-93
1875
1,000
1,000,000
5
J. & J. Phil.,Pa., Co., for ins.&c. Jan. 1, 1901
4
50 20,000,000
Pittsburgh, Co.’s Office.
In 1882 f
1877
6
1,000
3,200,000
Q .-J . Phila. Tr. S. D. & I. Co. July 5. 1907
1881
1,000 12,500,000
4%g. J. & J. N. Y., Nat. City Bank. July 1, 1921
1866
1,000
1,500,000
7
J. & D. Phila., B’k N. America. Jun6 1, 1896
1866
1,000
1,500,000
J. & D.
7
d odo
June 1, 1906
4,500,000
F. & A. N .Y.,Chic.,R. I. & Pac. Aug., 1883
i ’o o
1,500,000
4
8,400,000
1880
1,000
1,287,000
6 g. J. & J. N. Y., Met. Nat. Bank. Jan. 1, 1920
1880
1,000
858,000
6
do
do
Jan. 1, 1920
1880
1.000
1.470.000
6
M. & S.
New York.
Sept. 1, 1920
1.000 ' 1,230,000
1880
6
M. & S.
do
Sept. 1, 1920
1,000
1,500,000
6 g. Q .-F . N.Y., Metropoli’n N. Bit Feb. 1, 1921
1881
1,000
1881
1,500,000 V 6 g- May 1.
do
do
Feb. 1, 1921
100
1867
6
799,600
A. & O.
Phila, Co.’s Office.
Apr. 1, 1887
1873
1.000
1,125.000
do
do
June 1, 1913
6 g• J. & D.
lo o
385,000
M. & NNashua, Treasurer.
Nov.. 1883
1877 500 &c.
147,000
6
A. & O. Boston, N. E. Trust Co. Oct. 1, 1897
....
100
1,324,200 * 3
7 à J.
Petersburg, Va.
Jan., 1872
1 <69
400,000
.1 . & ,T
8
do
Jan , 1879-’98
....
5
1831
400,000
J. & J,
do ,
July 1, 1926
1881
1,000,000
6
A. & O.
Oct. 1, 1926
50
2,500.000 i
1881
1,000
1,000,000 )
5 • M. <fc N. N.Y., Company s Office.
1911
1871 100 &c.
1,100,000
A. & O.
■7do
do
April 1, 1891
50
7,013,700
50
2,400,000
Philadelphia, Pa; RR.
1870

Pennsylvania <6New York (Canal and Railway).—November 30,1882,
ow ned trom Wilkesbarre, Pa:, to New York State Line, 104 miles.
Brail ekes to mines, 16 miles. Operated in connection with the Lehigh
Valley Railroad. Common stock, $1,061,700, and preferred stock,
$4,000,000. Net earnings in 1878-9, $599,791; in 1879-80, $915,132;
in 1880-81, $1,000,706. Robert A. Packer, President, Sayre, Pa. (V.
32, p. 9 8 ; V. 34, p. 145.)
Pennsylvania Schuylkill Valley.—At Harrisburg, June 1, 1883, the
-organization of this company was completed by the tiling.at the State
Department of articles of merger and consolidation between the Phila­
delphia Norristown & Pkcenixvilie, the Phoenixville Pottstown & Read­
in g and the Phoenixville & West Chester railroad companies. The road
'will extend from Philadelphia to Reading, and is controlled by the
Pennsylvania Railroad Company. The capital is $4,500,000.
Peoria <£ Bureau Valley.—March 31,1882, owned from Bureau Junc­
tion to Peoria, 111., 47 miles. The road was leased in perpetuity April
14,1854, to the Chicago & Rock Island Railroad at a rental of $125,000
per annum. Officers same as Rock Island.
Peoria Decatur <6 Evansville.—Dec. 31, 1882, owned from Peoria to
Evansville, 235 miles; branch—Stewarfcsville, Ind., to New Harmony,
ilnd., 6 miles; leased, Pekin, 111., to Peoria, 111., 10 miles ; through De­
catur, 3 miles; total, 254 miles. This road is a consolidation of the
Pekin Lincoln & Decatur RR. (formerly leased to the Wabash) and the
Decatur Mattoon & So. and the Grayville & Mattoon. Gross earnings
in 1881, $691,608; net, $236,904. Gross earnings 1882 $763,584; net,
.•$317,686; total payments, including 6 per cent on income bonds,
.$319,200. (Vol. 37, p. 3 0 0 , 3 7 5 .)
Peoria <£ Pekin Union.—Owns from Pekin to Peoria, 10 miles on each
side of Illinois R iver; total operated, 20 miles. The road is a union
road, and the stock of $1,000,000 was taken by the different Peoria
RR. companies, and they pay a rental for use of the road and also pay
terminal charges. See full description in V. 36, p. 253. Opened Feb.,
1881. In 1882-83, gross receipts, *399,125; net, $183,225; balance
<nver interest and rentals, $78,102. (V. 36, p. 253.)
Perkiomen.—Nov. 30, 1882, owned from Perkiomen June.,1Pa., to
Emaus June, 39 miles. The road was leased for 19 years from Aug. 1,
1868, to Phila. & Read’g RR. , and bonds guaranteed by the lessees; but
sthe property was surrendered and all control given up in May, 1879.
■One-half the interest on »the consolidated mortgage was paid for three
years in Philadelphia & Reading scrip, according to the Philadelphia
.& Reading compromise. Stock, $38,040. The balance sheet gives on
-the credit side $680,140 as P. & R. Joan account and $100,980 as loan
.account script. Net earnings in 1880-81 were $123,129; in 1881-82,
$122,295. (V. 32. p. 101.)
Peterborough.—Sept. 30,1882, owned from Wilton to Greenfield, N. H.,
11 miles. Completed Jan. 1, 1874. and leased by Nashua & Lowell
Railroad for 20 years from 1873 at 6 per cent on cost of the road. In
1879 lessees withheld rental, but a suit was' decided in favor of Peter­
borough. James Scott, President, Peterborough, N. H. (V. 32, p. 16.)
Petersburg.—Petersburg, Va., to Weldon, N. C., 63 miles. In May, 1877
a Receiver was appointed and foreclosure sale was decreed April 20
1880, but steps were taken by second mortgage bondholders to prevent
a sale, and reorganization was made with above bonds, and $323,500
prpf. stock and $1,000,700 com. stock on Dec. 31,1881. In 1881 gross
earnings were $306,057; net, $123,074; in 1881-2, gross, $298,543:
net, $138,840. (V. 32, p. 232,444, 501, 613, 686; V. 34, p. 178, 3 7 7 ;
V, 35, p.603.)
Philadelphia & Baltimore Central.—Phila. to Westchester, 26 miles;
Westchester Junction to Octoraro Md., 46 miles; leased Chester Creek
Railroad, 7 miles, and Columbia & P. Deposit Railroad, 4 miles; total
•operated, 83 miles. This was a consolidation, Oct., 1881, of the Phila.
■& Balt. Central and the Westchester & Phila. railroads. Of the new
stock Phila. Wilm. & Balt, holds $1,669,400. Tn 1882 gross earnings,
$663,956; net, $152,893; deficit after paying all charges, $5,943.
Philadelphia <£Erie.—Dec 31,1882, owned from Sunbury to Erie, 287
miles. Formerly Sunbury & Erie RR. It was leased to Penn. RR. for 999
years from January 1, 1862, the lessees to pay 30 per cent of gross
receipt as rental, but modified January 1, 1870, so that actual net
receipts are paid as rental. The consolidated mortgage is guaranteed by
the Pennsylvania Railroad. The unpaid coupons of $1,831,564 are held
L i £2« lessee for advances. Gross earnings for eight months of 1883,
net>$913,6 ° 7 ; against $2,522,699 gross and $920,908 net
in 1882. Last annual report was in V. 36, p. 250.
INCOME ACCOUNT.
1879.
1880.
1881.
1882.
$
$
$
$
•Total gross eam ’gs...
3,091,808 3,727,733
3,454.309 4,011,014
Net receipts—
.Net e a rn in g s .........
961,549 1,369,380
1,024,250
1,411,880
R e n ts ........................
2,292
4,840
4,835
3,586
Total net incom e...




963,841

1,374,220

1,029,085

1,415,466

Disbursements—
Interest on d e b t.......
Interest on equipm’t.
Extraordin’ry expen.
Miscellaneous...........

1879..
$
1,093,720
163,049
............
39,410

1880.
$
1,093,720
162,200
106,567
37,306

1881.
$
1,077,995
165,345
135,278
45,710

1882.
$
1,062,270
160,410
. . . . ___
95,087

Total disbursements. 1,296,179 1,399,793
1,424,328
1,317,767
Balance, deficit........
332,33»
25,573
395.243 sur.97,699,
-(V . 32, p. 2 0 4 ; V. 34, p. 196, 2 6 3 ; V. 36, p. 2 5 0 , 480.>
Philadelphia Germantown <6 Chestnut Hill.—From May 1, 1883,
leased for 30 years to the Pennsylvania RR. Co., which guarantees 4%
per cent on the bonis. (V. 36. p. 366.)
Philadelphia Germantown <£ Norristown.—Philadelphia. Pa., to Norris­
town, Pa., 17 miles ; Germantown Branch, 3 miles ; Plymouth Railroad,
9 miles; total, 29 miles. Thé property was leased Nov. 10, 1870, to
Philadelphia & Reading Railroad for 999 years at a rental of $269,623
and $8,000 yearly for organization expenses. Dividends of 12 per cent
per annum are reguiarly paid.
Philadelphia Newtown <6New York.—Nov. 30,1881, owned from New
town Junction to Newtown, Pa., 21 miles. Capital stock, $1,200,000
On November 10,1879, the.Philadelphia & Reading Railroad purchased
12,012 shares, giving control of the property, and guaranteed the bonds..
Earnings in 1880-81, $51,695; efleit, $23,406.
Philadelphia <&Reading.—Main line, Philadelphia to Mount Carbon,
Pa., 98 miles ; branok lines ow red, 233 miles; leased lines,495 miles; ■
other lines controlled, 66 miles; total operated, 892 lines. In May, 1879,
jhis company leased for 990 years the North Pennsylvania Railroad
and Delaware <fc Bound Brook Railroad, and at same time gave up the
Perkiomen Railroad. In May*, 1883, leased the Central RR. of New
Jersey, assuming all liabilities and paying 6 per cent div. on stock. In
June, 1883, the Shamokin Sunbury & Lewisburg was finished, and this,
in connection with the Jersey Shore Pine Creek & Buffalo road to Stokesdale,-forms the important connection with the New York Central &
Hudson lines at Geneva and Lyons, N. Y. This route for coal is expected
to be of great benefit.
The Philadelphia & Reading Coal & Iron Company is a corporation
formed (Dec. 12,1871) for the purpose of own ing and working the ex­
tensive coal properties of this company. The Phila. & Read. RR. Co. owns ,
all the stock ($8,000,000) of the Coal & Iron Company, and the trustees
of the general mortgage of 1874 hold the bonds of the Coal & Iron Co.,
viz,, $29.737,985 mort, of 1874, and the Phila. & Read. Co. also holds
thé $10,000,000 mortgage of the Coal & Iron Co, dated 1876.
Between 1870 and 1876 theP. & R. increased heavily its capital ac­
count in the purchase of new properties, and after paying 10 per cent
dividends for some years ceased to pay after Jan., 1876. The Co. was
unable to meet all its obligations, and in March, 1877, holders of the
general mortgage bonds and Periokmen guaranteed bonds agreed to take
one-half their coupons for three years iu 6 per cent scrip ; and holders of
convertible and debenture bonds to take 6 p. ct. scrip in payment of their
coupons for five years. The scrip is convertible into income mort, bonds.
In May, 1880, the company suspended payment, and on May 24
Franklin B. Gowen. Edwin M. Lewis and Stephen A. Caldwell were
appointed receivers of the railroad and coal companies, and in May
1883, the receivers were discharged and the company returned to its
stockholders, and in July, 1883, payment in full oi all obligations was
resumed.
'
The Deferred Income bonds have a claim for 6 per cent interest onlyafter 6 per cent has been paid on the stock.
Under the general mort. $5,000,000 more 7 per cent bonds were issued
in December, 1882. In January, 1883, the convertible adjustment scrip
was issued, secured by $4,000,000 income mortgage (see terms in V. 36,
p . 48), payable on 90 days’ notice any time after July, 1885, and con­
vertible into stock at par, and the new blanket mortgage dated in 1882,
due in 1922, is issued in adjustment of certain liabilities, and of this
mortgage $6,< 00,000 of the first series and $5,000,000 second series
were listed at the N. Y. Stock Exchange in June, 1§83.
Prices of Philadelphia <fe Reading stock in Philadelphia, have been:
1882.
1883,
1883.
1882.
2978- 273«
3358-2938
29%- 26% July........ 31%-2778
J a n ...
August..
813¿-2878
275s- 24%
2878- 2313
32*8-27%
F e b ...
26%- 24%
2738- 2618 Sept’b er. 3334-3012
3238-25%
March
28%- 26% October . 3218-30
32%-2738
A p ril.
2814- 2578 Nov’ber . 3014-2518
May. .
2958-2718
3012- 26I3 Dec’ber.. 28 -24%
June..
30%-26%
The annual report for ’81-82 was published in Chronicle, V. 36, p. 54.
Gross earnings eight months of 1888, $17,482,987; net, *7,985,747,
against $13,533,948 gross and $5,759,657 net in 1882. Coal & Iron Co.
for same time, gross, $10,477,659; net, $278,619; in 1882, gross,
$9,309,932; net, $594,024.
The following table shows a comparison between the results of the
two years’ operations. The earnings of the railroad company for the
fiscal year ending Nov. 30, were as followsi

RAILROAD STOCKS AND

64

BORDS.

[Voi,. XXXV IT.

Subscribers w ill confer a great favor by giving immediate notice o f any error discovered In tliese Tables.
Bonds—Princi INTEREST OR DIVIDENDS*
DESCRIPTION.
pal,When Due.
Miles Date Size, or
Amount Rate per When IWhere Payable, and by Stocks—Last Par Outstanding
of
Tor explanation of column headings, &c., see notes of
Dividend.
Whom.
Road. Bonds Value.
Cent. Payable
on first page of tables.
Philadelphia <£ Erie—( Continued i—
$976,000
40 1857 $1,000
le t mort., Sunbury& E. (extended 20 years in ’77).
1,000
3.000.
000
287 1868
2d mortgage...................... - ..............................
1,000 13.943.000
General M., g., güar by Pa.RR.($5,263,000 rg. 5s) 287 1869
1,0Q0,000
phila. Germant’n & Chestmil Hill—1st mort., guar
"5 0
2.231.900
'2 9
Philadelphia Germantown d Norrislown—Stock. ...
50
1,200,000
Philadelphia Newtown <£•New York—Stock............. .
' 2Ì
100 «fee.
700.000
Bonds, guar, by Phila. & Read., coup....................
50 32,831,375
892
Philadelphia <&Reading—Stock, common.................
50
892
1,551,800
Preferred stock................................. ......... ......... .
£500
967,200
1843
Mortgage loan, sterling, coupon..............................
1,499,500
1843-9 1,000
do
dollars, coupon.................... ............
1857 500 «fee.
79,000
do
convertible, coupon.....................
1,000
2.700.000
1868
do ' coupon...............................................
1871 200 «fee. 18.811.000
Consol, mort. ($8,193,000 are gold 6s) cp. or reg.
1873
1,000
9.364.000
Improvement mort., gold, $ or &, coup..................
1,000 24.686.000
1874
Gén. mort., gold, $ and £, cp .($5,000,000 are 7s).
1,000
2.454.000
1876
Ineome mortgage, $ ............... ............... - ..................
1882 500 «fee,
6.000.
000
Consol. M, of ’82,1st sèr., gold (for $80,000,000).
1883 500 «fee,
5.000.
000
do
2d series (for $80,000,000).......
1.124.900
1868 100 «fee,
Debenture loan, coup. ............................ .................
1873 100 &c 10.395.000
do
convertible, coupon..................
1877 10 «fee
3,261,380
Scrip deben. and guar, bonds, currency..... ...........
1,813,680
1877 90 «fee
Scrip general mort, and Perkiomen, 6, stealing..
25,351.651
Deferred Income bonds..................................... .
1883
Conv. adjustment scrip (for $4,000,000)...............
* (V .
1872-4 500 «fee. 12,347,000'
• P. & R. Coal & I,, purchase money mort, bonds...
1,000
1872
1.731.000
do .
debenture loa n ..........................
100
1,259,100
' Philadelphia & Trentoiv—Stock...................... .
'50 11,795,050
Philadelphia Wilmington <&Baltimore—Stock.........
1,000
1.000.
000
1867
Plain bonds, loan.. . . . . . . '..................... ....................
1872-4 1,000
700.000
do
do ....................................................
1.000
800.000
1875
do
d o ................... ............ ......................
1,000,000
1880
do
do ..........................
— .....—
1,000
800,000
1881
Pittsburg Bradford d Buffalo—1st mort.,coup.. g’ld
1881-82.----------- »
— 1880-81.Net.
Gross
Net
Gross
Earnings.
Earnings.
Earnings.
Earnings.
$8,861,139
$20,333,649
$18,612,440 $8,122,493
332,452
841,143
439,468
919,105
' 271,548
648,490
287,770
667,153*
66,834 Loss.17,543
2,710
80,544

A. <fc O. '‘Philadelphia, Pa. RR. Oct. 1. 1897
July 1, 1888
J. <fe J.
do
do
Q.—J. Philadelphia & London. ’July, 1, 1920
Q.—M. Phila., Treasurer of Co. Sept.' 3,' 1883
A. & O. Phila.,’ 227 So' 4th St. Oct." i ’, ' 1897
Jan. 25,1876
Q.—J. Philadelphia, Office.
July 25,1876
Q.—J.
do
do
July, 1910
J. <fe J.
London.
July, 1910
J. <fe J. Philadelphia, Office.
July, 1886
J. <& J.
do
do
Oct. 1, 1893
A . <fe O.
do
do
June, 1911
J. &D. Philadelphia <&London.
Oct. 1« 1897
A. <& O.
do
do
July 1, 1908
J. <fe J.
do
do
Dec. 1, 1896
T. <&D. Philadelphia, Office.
Feb. 1, 1933
M. <fe N. Phila. and London.
P. <& A.
do
do
Feb. 1, 1933
July 1, 1893
J. <fe J
Philadelphia, Office.
J. & J.
do
do
Jan. 1, 1893
J. & J.
- do
do
July, 1882
J. <fe J. Philadelphia <&London
July, 1882
J. & J. Philadelphia <fe Loudon.
Various Philadelphia, Office.
M. <& S.
do
do
Q.—J. Philadelphia, Office.
J. <feJ. Philadelphia <fc Boston.
A. <fe O.
do
do
A. <fe O. Phil’delphia, Co.’s Office
A. <fe O.
do
do
T. <fc D.
do
do
A. <fe O. N.Y., Nat. Bk.Republic.

Jan! *1, 1888
1892 to 1894
1892
Oct. 10,1883
.July 1, 1883
April, 1887
Oct. 1. 1892
April 1. 1900
June, 1910
April 1,1911

GENERAL BALANCE AT CLOSE OF EACH FISCAL YEAR.

1882.
1880.
1881.
.1879.
Aiisp.is— v ■
^
$
$
Railroad traffic...
R R .’.equipment, «fee... 19,942,295 19,942,295 19,979,033 19,995,963
Canal traffic . . . . . .
57,299
58,399
58,399
Stocks owned, cost...
58,399
Steam colliers . . . .
283,000
283,000
283,000
Bonds own«d, c o s t ...
317,855
656,777
Bichniond barges.
706,241
835,376
Betterm’tstol’sedr’ds
660,293
980,133 1,001,034
1,076,528
Bills<fe acc’ts rec’vable
1,202,432
T o t a l...............$20,279,244 $8,852,443 $21,890,116 $9,447,596 Materials; fuel, «fee.*..
832,930
732,474
625,859
541,607
437,707
462,183 - 297,465
237,543
The joint statement of the Railroad and the Coal and Iron companies, Cash on h an d............
64,639
64,639
64,639
64,639
showing the earnings and expenses, the fixed charges for interest, Add’ns to Cin. S. C.Ry
282,465
376,393
Profit <&loss balance.
37,504
rentals, «fee., are given as follows:
r •
Gross Op. Exp. and
Net
Total assets.......... 23,062,567 23,219,144 23,606,912 23,611,814
Year.
Revenue.
Rentals.
Revenue. Interest, &c.
Deficit.
Liabilities—
$
$
$
$
1878-79 $26,937,886 $23,493,880 $3,444,005
$6,261,865$2,817,859
2,508,000 12,508,000
Stock, com m on ........
2,508,000
2,508,000
3879-80
32,177,003 26,682,024 5,494,978
6,704,9651,209,986
5,929,200 15,929,200
5,929,200
5,929,200
18808135,286,46328,598,114 6,688,348 6,505,093 prof. 183,256 Stock, preferred____
18818237.300,16130,053,228 7,246,933 6,363,989 prof.882,944 Bds, (see S u p p l e m ’ t ) . 12,497,000 12,497,000 12,617,000 12,617,000
1,118,636 1,212,134
726,893
784,754
—(V. 35, p. 44, 132,189, 236,266,374,487,603,706,737; V. 36, p. 30.48, AH other dues <feacc’ts
847,390
853,890
888,783
891,189
6 4 ,8 2 ,196„.22lj 253,332,340. 366,480,511, 561,574,591, 652,707, Due Little Miami RR.
184,601
184,601
Due C, C. <fe I. C .R R ..
184,601
184,601
724, 731 ; V. 37, p. 127, 235, 343.)
262,500
262,500
Cin.
Streek
Conn.
bds.
262,500
262,500
Philadelphia d Trenton.—Kensington, Pa., to Morrisville, Pa., 26
50,989
133,085
Miscellaneous............
65,590
64,849
miles« On Dec. 1, 1871, it was leased with the United Companies of
Profit
<
&
loss
balance.
............
97,051
New Jersey to the Pennsylvania Railroad, at 10 per cent on stock, and
is operated as a part of its New York division.
23,062,567 23,219.144 23,606,912 23,611,814
Total liabilities.
Philadelphia Wilmington & Baltimore.—Dec. 31, 1882, owned from
* Includes supplies March 31, 1875, transferred,
Philadelphia, Pa., to Baltimore, Md., 96 miles ; Port Deposit Branch, 4
f Of which $367,950 common and $2,950 preferred is Steub. & Ind
miles; Southern Division to Rodney <& Newcastle, Del., 12 miles ; total,
main line aud branches, 112 miles; Delaware RR. (leased), 95 miles; stock unconverted.
—(V.
34, p. 292,.345,486; V. 35, p. 133; V. 36, p. 340, 5 5 8 ; V. 37, p 127.)
total operated, 207 miles. Owns over half the stock of the P. <fe B. Cent.
Pittsburg di Connellsville.—Sept. 30,1882, owned from Pittsburg, Pa., to
In April, 1881, nearly the whole stock was purchased and is held by
Mt.
Savage
June., Md., 147 miles ; branch, 2 miles ; leased lines, 22 miles ;
Penn. RR. Co. Income account for 1882 as follows:
Net earnings......................... . . . ...... . . . . ........... t.............. ........ ,.$1,751,597 total, 171 miles. On Dec. 13 1875, the property was leased to the Balt.
103,258 & Ohio RR., and possession given Jan. 1,1876. The P. «fe C. is credited
Interest, profit on Delaware lease, «fee......................................
all the earnings and charged with all the expenses. The city of
T o ta l.....
....................... ......................................$1,854,856 with
Baltimore transferred its interest to the Baltimore <&Ohio Railroad for
Interest and 8 per cent d iv id e n d s........... ............................. 1,522,843
$1,000,000, and the consolidated sterling.mortgage was made and guar­
Surplus for the year ............................................ ..........
$332,013 anteed by the Baltimore «fe Ohio. It is operated as the Pittsburg Division
Profit andloss Nov. 1,1881 .....................................................
1,165,316 of the Baltimore <fe Ohio Railroad. In February, 1880, a judgment in
176,908 favor of B. A 0. Co. was confessed for $4,354,748. Stock is $1,944,400. *
Renewal fund, balance transferred.................................. .
T o ta l............. .......................... ..........................
. . . . .„..$ 1 ,6 7 4,7 3 7 In 1879-80 the net earnings were$1,011,827; in 1880-81, $1,124,473; in
18.81-2, $1,542,125.
^Depreciation of securities, «fee— ............................ $91,181
Sundry accounts..... .................................................
10,575
Pittsburg Fort Wayne di Chicago —Dec. 31,1882, owned from Pittsburg,
Bxtraoi’dinary improvements of the ro a d ............. 107,395— 209,152 Pa., to Chic., 111., 468 mile«. The company made default Oct. 1,1857, and
■ Balance Nov. 1, 1882.................. ......................... „.........$ 1 ,4 6 5 ,5 8 5 again in 1859. and was foreclosed Oct. 24,1861, and reorganized under ;
this title Feb. 26,1862. On June 27,1869, the company leased all its
—(V« 33, p. 218; V. 34. p. 59; V. 36, p. 2 8 2 .)
road and property to the Penn. RR. at a rental equivalent to interest,
Pittsburg Bradford <& Buffalo.—Foxburg to Kane, Pa., 82 miles; sinking fund of debt, and 7 per cent on $19,714,286 stock, which was
Clarion Branch, 6 miles; Saw Mill Branches, 6 miles; total, 94 miles. increased at that time from $11,500,000. The lease was transferred
Bonds issued at $8,000 pr. mile. Stock authorized, $1,000,000, par $100; subsequently to the Pennsylvania Company. The lessees are to keep,
Issued, $550.000. Earnings 1882, $117,680; net, $40,134. Charles the road in repair and also pay taxes, expenses, «fee. The rental charge;
W. Mackey, President, Franklin, Pa. (V. 35, p. 51,133, 236, 737.)
is about $2,930,000 per year, and the profit to, lessees has been large.
Pittsburg Ft. Wayne <fe Chicago leases the Newcastle <fc Beaver
Pittsburg Cincinnati <£• St. Louis.—December 31, 1882, owned The
from Pittsburg, Pa., to Columbus, Ohio, 193 miles; branch to Valley and the Lawrence roads, which in turn are leased again by the
Pennsylvania
Co.
, . , - - . .
Cadiz, Ohio, 8 miles; total, 201 miles. This wa3 a consolidation
first mertgage bonds are in six series lettered A to F inclusive,.
of. several companies, May 1, 1868, including th« Steubenville <fc ofThe
$875,000
each
series,
the
interest
on
“
A
”
series
being
J an.
Indiana and the Pan Handle roads. This company is controlled and July; on “ B” it is February and August ; on “ C” it ispayable
.and?
by the Pennsylvania Company, through the ownership of a majority of September ; on “ D” it is April and October ; on “ E” it is MayMarch
and
Nov.*;;
Its stock. This company also held leases of the Little Miami and its and on “ F” it is June and December. The second mortgage is also m.
dependencies and of the Columbus Chicago <fe Indiana Central road, six series of $60,000 each, lettered H to M inclusive (J omitted), and the
Operated by the Pennsylvania Company, and their earnings separately interest is payable Jan. and July on “ G” series, Feb. and Aug. on H,
stated. Common stoGk, $2,508,000; first preferred, $2,929,200; March and Sept, on “ I,” April and Oct. on “ K,” May and Nov. on L, |
eecdnd preferred, $3,000,000; par value of shares, $50. The interest and June and Dec. on “ M.” The bonds are coupon, but may be regís-;
cm the second mortgage bonds, due from October i , 1875, to April 1, tered payable to order. Of the 1st mortgage bonds, $1,337,500, ana of*
1878, inclusive, was paid in 1880.
the 2<fmortgage $1,587,500, and $354,088 cash, were held m the smkComparative statistics for four years were as follow s:
ing funds Jan. 1, 1881. The special improvement stock is issued to
.¿2
INCOME ACCOUNT.*
Pennsylvania RR. for improvements, «fee., under article 16 of lease, viz.
1879.
1880. ■
1881.
1882.
<•A rticle 16. The party of the first part hereby agrees that, for the
. Receipts—
$
$
purpose of enabling tbe party of tbe second part to meet tbe ol^Hgations
1,309,313
1,383,923 of the party of the first part to the public, by making from tame to time
Net earnings............. 1,599,562
2,032,682
22,670
19.636 siicb improvements upon and additions*to tbe said Pittsburg Fort Wayne
Rentals and interest.
14,022
16,041
532,690
609,271 «&Chicago Railway, in the extension of facilities for increased business
647,858
711,466
Net from leased roads
86,521 by additional tracks and depots, shops and equipments, and the suhstb
Miscellaneous. . . . . . . . .
tution of stone or iron bridges for wooden bridges, or steel rails for iron
1,864,673
2,696,581
2,099,351 rails the party of the first part will issue, from time to time, a speeiaL
TOtalincome........ 2,325,050
Disbursements—
$
stock which shall bear such name as shall be hereafter agreed upon, or
$
$
$
819,464
801,048
825,447 bonds, or other securities.” * * * “ The said party pf the second part
Rentals p a id .............
821,299
846,769
851,990 shall guarantee the payment, semi-annually or quarterly, thereon of
842,480
833,625
Interest on dèbt........
181,777
174,944
2221985 such rate of interest as may be agreed upon between the parties hereto,
136,980
Other interest.............
105,000
105,000
105,000 to be paid by the;said party of the second part to the holders thereof
int. onC.&M.Val. bds.
105,000
27,241
170,445
Loss on St. L. V.&T. H.
16,144
without deduction from tbe rent hereinbefore reserved; and the saia
.......
special stock, or bonds, or other securities, shall be issued only in respeciì
2,123,455
2,005,422 to improvements of and additions to the said railway which, and estb
1 Total........ ............ 1,913,04:8
1,950,713
93,929 mates and specifications of which, shall have been submitted to ana
745,868 def. 258,782
412,002
Balance, surplus.......
approved by the said party, o f .the first part in writing.’’ * * *•..
Operations and. earning^ for five years .past were as «oliows
' Esclusive of Col. Chic. <&Ind. Cent.




O c t o b e r , 1883. J

HAILROAD

STOCKS AND

BONDS.

65

Subscribers w ill confer a great favor by giving Immediate notice o f any error discovered In these Tables.
DESCRIPTION.
iBonds—Princi­
INTEREST OR DIVIDENDS.
Date Size, or Amount
pal,When Due.For explanation of column headings, &c., see notes of
of
Par
Rate per When Where Payable, and by Stocks—Last
Outstanding
on first page of tables.
Road. Bonds Value.
Cent. Payable
Whom.
Dividend.
Pitts. C. A St. L .—is t M., consol., reg. and coup........
2d consol, mortgage....................... . ....................„
* 1st mortgage, Steubenville Ind., reorganized...
Col. <feNewark Division bonds.............................
Holliday’s Cove RR. mortgage bonds.....................
Pittsb. A Connellsville.—1st m ortgage.....................
1st mortgage Turtle Creek division........................
Consol, mort., guar. B. & O. (s.f. £7,200 pr. y r .)..
Pittsburg Ft. Wayne A Chicago—Stock, guar...........
Special improvement stock, guaranteed................
1st mort. (series A to F ) » Bonds all coupon, but
2d do (series G to M) > may be made payable
3d mortgage.................. ) to order.
Pittsburg, Ft. Wayne & Chic, construction bonds.
. Equipment bonds (renewed) i .......... ........................
Pittsburg A Lake Erie—Stock................ .................
1st mortgage, gold, coupon....................... ..............
Pittsb. Va. A Charleston—1st mortgage, gold.......
Pittsburg Youngstown A Chicago—Stock...............
Pittsburg A Western.—1st mort., g. (for $6,000,000)
Pomeroy A Newark—Stock...........................................
Port Jervis A Monticello—Stock.......................... ......
Port Royal A Augusta - 1st mortgage.....................
General mortgage income bonds, c o u p ..................
Portland A Ogdensb.—1st mort., g o ld ....................
Mortgage ifor $3,300,000).......... T. ............... .
Portland A Rochester—Stock ($600,000)...................
Portland Saco <6 Portsmouth—Stock...........................
Portsmouth A Dover—Stock..... .......... .........................
Portsmouth 6t. FaUs A Conway—S t o c k .................
1st mortgage............. .................................. .
Poughkeepsie Hartford A Boston—1st and 2d mort.
Providence A Spring/.—1st M. ^end. by City Prov.).
Providence A Worcester—Stoek............................... .
New bonds............. ..................................................
Raleigh A Augusta—Stock ($1.000,000 pref.)..........

200
200
117
33

1868
1873
1864
1864

3.49
10
149
468
468
468
468
468
....

1808
1859
1876

*70
70
30
"27
24
112
60
94
53
51
11
71
71
42
23
66
.98 1

1871
1862
1862
1862
1857
1874
1878
1881
1878
1878
1870
1871
....
....
1877
1875
1872
1877

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

$6,863,000
2,500,000
3,000,000
134,000
120,000
1,000
4,000,000
100 &c.
326,600
£200
6,292,000
100 19,714,285
100
8,100,000
500 &e.
5,250,000
500 &c.
5,160,000
500 «fcc.
2,000,000
1,000
100,000
1,000
1,000,000
50
2,050,000
1,000
2,000,000
1.000
2,000.000
4,000,000
1,000
3,099,000
50
500,000
724,276
10Ö&C.
250,000
100 &c.
1.500,000
500 &c.
800,000
100 &c.
2,268,000
580,168
100
1,500,000
100
769,000
100
770,000
500 &c.
1.000.000
535,000
1,000
500,000
100
2,500,000
. . . . > 1.242.000
1.873.000

Passenger Freight (ton)
Gross
Net
Div’d
Years. Miles.' Mileage.
Mileage.
Earnings.
Earnings.
1 8 7 8 ..
.. 468 77,819,493 637,470,506 $7,872,476 $3,529,085
- 1 8 7 9 .... 468 86,406,476 803,053,260 8.461,563
3 729 298
1 8 8 0 .. .. 468 104,287,111 806,257,399 10,096,819
' ---------- —- '
4,778,210
1 8 8 1 . . . 468 130,470,469 1,044,447,16110,741,490 4,883,005
1 8 8 2 .. .. 468 .................
............. .
10,894,870 4,368,463
—(V. 32, p. 57 7 .)
Pittsburg A Lake Erie.—Dec. 31, 1882, owned from Pittsburg, Pa , to
Youngstown, O., 68 miles; branch line to Newcastle. Pa., 2 miles; total,
70 miles. Scrip certificates for $410,000, bearing 6 per cent interest
and payable at will, have been issued as dividends on stock. Gross
earnings in 1880, $841,256: net, $442,244. In 1881 gross, $1.041,063
net, $608,764. In 1882 gross, $1,265,748; net, $508,704.(V. 34, p. 5 9
Y. 35, p. 103; Y. 36, p, 1 9 7 , 561, 591, 675.)
'
Pittsburg Virginia A Charleston.—From Birmingham, Pa., to Browns
ville, Pa., 53 miles. The stock is $1,504,900. The bonds, $2,000,
000, besides $208,100 debt certificates, and of the stock $1,251,050
are owned by the Penn. RR. Net earnings in 1881 $127,141, against
$127,952 in 1882.
°
Pittsburg A Western.—This was a consolidation of several roads dated
June 15,1881. In Oct. 18,1883, consolidation was in progress with the
Buffalo Pitts. & West, with a stock of $7,250,000. The mortgage was
executed Oct. 1,1881, to the Mercantile Trust Co., covering the pro­
jected line from Allegany City, Pa., to Youngstown, O., and New­
castle, Pa., to Red Bank, Pa., and Junction to Parker,Pa., in all about
200 miles. Also the rights secured by the contract of the Wabash, Cen­
tral of New Jersey and Rochester & Pittsb. combination. Stock, $6,00o,000. In 1881-82 gross earnings, $178,141; net, $44,939. Jas. Callery. President, Pittsburg; Solon Humphreys, Vice-President'. New
York. (V. 34, p. 461; V, £f5, p. 103, 266, 431, 546; V. 37, p. 392.)
Pittsburg Youngstown A Chicago.—(V. 33, p. 7 5 ; V. 34, p. 461 • Y. 35
p. 103.)
’
Pomeroy A Newark.—Pomeroy, Pa., to Newark, Del., 27 miles. For­
merly Penn. & Del. RR., then Pomeroy & State line, then reorganized
in 1881 as above.- Operated by Pennsylvania Railroad.
Port Jervis A Monticello.—Sept. 30, 1882, owned from Port Jervis, N.
Y., to Monticello, N. Y., 24 miles. Formerly the Monticello <fc Port
Jervis RR., which was sold in foreclosure July 16,1875, and reorganized
as the present Port Jervis & Monticello. Gross earnings in 1880-81, $28,171; deficit, $15,018; 1881-82, gross, $31,920; deficit, $4,123. The
stock is $724,276, issued to the former holders of first mortgage bonds.
Port Royal A Augusta.—Sept. 30, 1882, owned from Port Royal, S. C
to Augusta, Ga.. 112 miles. Leased in Sept., 1883, the Augusta &
Knoxville road, Augusta, Ga., to Greenwood, S. C., 68 miles, for 99
years, at 5 per cent on stock of $127,639, and assuming the bonded
debt. Formerly Port Royal Railroad. Defaulted Nov. T , 1873, and
receiver appointed May 9,1875. Sold in foreclosure June 6,1878 and
purchased for the bondholders, who organized this company. The
Georgia Railroad was endorser on $500,000 of the old bonds. The stock
is $750,000, and in June, 1881, a controlling interest was purchased
by Central Georgia RR. parties. Earnings for 1882-83 compared with
previous years as follow s:
“
1882-83.
1881-82,
. 1880-81.
Gross earnings........ .............$307,1(10
$32o,234
$356,085
Operating expenses............. 272,112
280,227
241198
Net e a rn in g s ................ $34,987
$40,006
$114,887
- ( V . 32, p. 356 ; V. 33, p. 589T621.)
Portland A Ogdensburg.—Sept. 30, 1882, owned from Portland Me.,
to Fabyans, 91 miles. It reaches the Vermont Division (now 8t. Johns& Lake Champlain) by using 14 miles, of the Boston Concord &
Montreal RR. and a 3-mile link of its own. The citv of Portland owned
a C9ntrolling interest in the stock, which is $1*,052,186. A suit in
equity was begun by holders of the 1871 mortgage in February, 1881
but contested by the city. Earnings of this road for five years past
were as follows:
.
J
Miles.
Gross Eam ’gs.
Net Eam’gs
.......... ... ....- ......... -•-- 94 - .
$270,783
$88.574
92,295
102,695
J i t ? - **1 ..........................
94
304,245
91.077
1881—
2
........
94
1354 173
jm
106,304
V. 31, P; 1 i 3 ,5 2 2 ; V. 36. p. 1 68 ; V. 37, p. 400.)
^ Itortiester.-Sept. ao, 1882, owned from Portland, Me., to
«
er>
? ? Julies. The old company was put in the hands of
a Receiver lebruary, 1877, Foreclosure suit was begun, but a settleV “which all the old stock and bonds were eonthe ^ o^1c2olpany- P roes earnings in 1880-8-1-,
$168,328, net, $15,034 ; in 1881-82, grqps; $201,847; net, $6.526. (V.
32, p. 1 8 1 ; V. 33, p .4 6 1 ; V. 34, p. 1 7 5 ; y . 36, p. 168.)
Portland Saco A Portsm outh--Portland, Me., to Portsmouth, N. H.. 51
was leased May 4,1871, to the Eastern Railroad, Mass., at 10
percent. No debt' Lease reutal changed May 21, 1877, and now 6
Portsmouth A Dover.—Portsmouth, N. H., to Dover, N. H., 11 miles
Opened February 1 ,18 7 4, and leased for 50 years to Eastern of New




7
7
6
7 '
6
7
6
6 g.
1%
1%
7
7
7
7
8
10 8.
6 g.
7 g.

F. & A.
A. & O.
M’nthlv
J. & J.
F. & A.
J. & J.
F. & A.
J. & J.
Q .-J .
Q.—J.
Various
Various
A. & O
J. & J.
M. & S.

Phila., Pa., RR. Office. Aug. 1, 1909
do
do
April 1, 191?
N. Y., 160 Broadwav.
May. 1884
Phila., Penna.RR. Office Jan.. 1900
1£93
Balt., Balt. & Ohio RR. July, 1898
Pittsb., First Nat. Bank Aug. 1, 1889
London. J.S.Morgan&Co Jan. lj 1920
N. Y., Winslow, L. & Co. Oct. 3) 1883
do
do
Oct. 2. 1883
do
do
July 1, 1912
do
do
July 1, 1912
no
do
July 1, 1912
do
do
Jan. 1^1887
do
ao
Mch. 1; 1884
1883
J. & J. N. Y., Phila. & Pittsb. July 1. 1928
A. & 0.
Philadelphia.
April 1,1902

6 g. J. & J. New York, 3 Broad St. July 1, 1921
6
J.
6
J.
6 g. J.
6 g. M.

&
&
&
&

J. N. Y., 252 Broadway. Jan. 1, 1899
J.
do
Jan. 1) 1899
J. Portland, Treas. Office. Jan., 1900
N.
do
do
Nov., 1901

3
3
3
4^2
7
7
3
6

&
&
&
&

J.
Boston. Office.
J. Portsmouth, Treas,
J. Bost., Eastern RR. Co.
D.
do
do

J.
J.
J.
J.

July
Jan.
July
July

15,1883
1, 1883
15, 1873
2, 1937
1905
J. & J. Providence,Am. Nat.Bk July 1, 1882
J. & J.
Providence, Office.
July 2, 1883
A. & O.
do
do
1897

Hampshire at 6 per cent per annum on the stock. Operated now by
Eastern (Mass.) Frank Jones, President, Portsmouth, N. H.
Portsmouth Great Falls A Conway.—Owns from Conway Junction, Me.,
to North Conway, N. H., 71 miles. The Eastern Railroad in Massar
chusetts has made a lease of the road for 60 years from December 1,1878,
with a guaranteed rental of $45,000 a year, which pays 4 Hi per cent on
$1,000,000 bonds, and the stock is to receive the same dividends as the
stock of the lessees. Total stock, $1,150,300, of which lessees own
$551,300.
Poughkeepsie Hartford A Boston.—Sept. 30.1882, owned from Pough­
keepsie, N. Y., to New York State Line, 47 miles. The Poughkeepsie A
Eastern RR. was opened in 1872, and was sold in foreclosure May 15,
1875, and the present company organized. It connects with the Connec­
ticut Western RR. The 1st mortgage bonds are $35.000,' 2d mortgage
$500,000 The stock is $850,000. In 1880-81, gross earnings, $59,232;
expenses, $54,815. In 1881-2, gross earnings, $68,408; expenses,
$59,496. G. P. Pelton, President, Poughkeepsie, N. Y.
Providence A Springfield.—Providence, R. I., to Pascoag, 23 miles. It
is proposed to extend the road to Springfield, Mass.. 80 miles. Stock is
$517,150, In 1880-81, gross earn’gs, $89,328; net, $42,485; in 1881-82»
gross,$96,252; net, $34,997. William Tinkham, Pres., Providence, R; JL
Providence A Worcester.—Sept. 3 0 ,1S82, owned from Providence, R. L,
to Worcester, Mass., 44 miles; branches, 7 miles; leased Milford & Woon­
socket RR. and Hopkinton RR., 15 miles; total operated, 66 miles. In
1881 new stock for $500 000 issued for improvements. The notes pay­
able Sept. 30, 1882, were $420,000. Operations and earnings for three
years past were as follows:
Pa senger
Freight (ton) Gross
Net
Div.
Tears. Miles.
Mileage.
Mileage.
Income.
Income. p- c.
187980 .. 66
15,941,739
23,669,729 $1,064,801 $332,813
6
1880- 81 .. 66
17,439.529
22,211,710 1,039,671
303,457
5
1881-82 .. 66
19,977,254
25,023,982 1,147,514
310,897
6
- (V . 35, p. 577.)
Raleigh A Augusta.—July 31, 1882, owned from Raleigh, N. O., to
Hamlet, N. C., 98 miles. Formerly Chatham Railroad, and is controlled
by Raleigh & Gaston. Earnings 1881-82, $222,351; net, $53,336.
Raleigh A Gaston..—From Raleigh to Weldon, N. C..D7 miles. Stock;
$1,500,000. Dividend of 3 per cenhpaid October, 1881. Earnings for
five years were as follows:
Gross
Net
Years.
Miles.
Earnings.
Earnings
1876-7................ ......... .................... 97
$234,511
$85,755
1877-8.......................
.................... 97
242,478
107,185
1878-9 (1 4 months)... .................... 97
295,051
115,343
1880-81 ....................... .................... 97
439,785
53,3o4
1881-82 ............. . . . : . . .................... 97
446,951
99,294
Reading A Columbia. —Nov. 30.1882, owned from Columbia to SinkH Springs, Pa., 40 miles; branches, 8 miles; Lancaster & Reading
Railroad, leased, 15 miles ; total operated, 63 miles. Stock, $958,268The road is controlled and operated by Philadelphia & Reading, but
accoimts kept separate. The first mortgage 7 per cent bonds, due
1882, were extended 30 years at 5 per cent. Gross earnings m 1880-81,
$394,184; net earnings, $138,794; payments for interest and rental,
$94,500; 1881-82 gross. $432 995; net, $133,611; interest and reutal.
$114,750. (V. 34, p. 282.)
Rensselaer A Saratoga.—Sept. 30, 1882, owned from Albany to Lake
Champlain, N. Y., 79 miles; Troy to Waterford Junction, N. Y . 6 miles;
Whitehall, N.Y., to Castleton, Vt., 14 miles ; Eagle Bridge to Rutland,
Vt., 62 miles; other, 2 miles; leased: Ballston to Schenectady, 15
miles; Fort Edward to Caldwell, 15 miles; total operated, 193
miles. It was a consolidation of several lines, and the Delaware &
Hudson Canal Co. leased the whole March 1,1871, at a -rental of 8 per
cent on the stock and 7 pet cent on the bonds. Operations and earn­
ings for three years past were as follows :
Passenger Freight (ton)
Gross
Net
Dir.
Vears. Miles.
Mileage.
Mileage.
Earnings. Earnings, p.c.
1879- 80.183
54,333,707 $1,824,318 $365,372
21,797,913
8
1,922,002
1880- 81.183
23,427,570
762,637
8
55,989.982
2,104,596
188182.193
828,908
8
65,38$,489
28,378,001
Richmond A Alleghainy.—D og. 31, 1832, owned from Richmond to
Williamsons, Va.,with branches to Lexington, 250 miles, and leased
Henrico RR., Lorraine to Hungary Station, 11 miles ; total operated,
261 miles. The company owns by purchase the property and. franbises of the James River & Kanawha Canal Co., including water
power on James River. The stock is $5,000,000, and there is also a 2d
mortgage subscription loan of $l,2o0.000. In June, 1881, consol' fation. with the Ohio Central was voted, but never consummated.
In May, 1883, default was made on second mortgage coupons, and ou
J une 23 receivers were appointed. (See Chronicle. \ . 36, p. 714.) An­
nual report was in V. 37, p. 200. Net earnings in 1882, $206,212. V
■vV. 35, p. 7 0 7 ; V. 36, p. 724; V. 37, p. 23, 2 0 0 .)
Richmond A Danville.—Sept.. 1882, owned from Richmond, Va., to
Danville, Va., 14L miles; branches, 12 miles: Danville, Va., to Greens»
boro, N. C., 47 miles; Salem Junction to Salem, 25 miles; leased: West
Point, Va.. to Richmond, 38 miles; Goldsboro, N. C., to Charlotte. 223
miles; Charlotte, N. 0., to Atlanta, 269 miles, and narrow cauie*
branches, 70 miles ; total owned and leased, 825 miles.

IIAILROAD STOCKS AND

6 6

BONDS.

r v o i., X X X V II.

Subscribers w ill confer a great favor by giving immediate notice o f any error discovered In these Tables.
Bonds—Princi
INTEREST OR DIVIDENDS.
DESCRIPTION.
pal,When Due
Miles Date Size, or
Amount
Stocks—Last
Where
Payable,
and
by
When
Par Outstanding Rate
of
For explanation of column headings, &c., see notes of
Dividend.
Whom.
Cen n Payable
Road. Bonds Value.
on first page of tables.
J. & J. Pliila. ,Pa. ,<feRal’gh,N.C. Jan., 1898
8
97 1873 $1,000 $1,000,000
Raleigh <6 Gastonr—1st m ortgage...,.......................
Mch. 1, 1912
Phila., Co.’s office.
M. & 8.
5
650.000
40 1862 100 &o.
Reading d Columbia—1st mort., coup, (extended)..
J. <& D. Columbia, First Nàt.B’k June, 18S4
1.000
7
.350,000
40 J864
2d mortgage, coupon...................................... - - ......
Dec.
1, 1917
Phila.,
Co.’s
Office.
J. & D.
1,000
1,000,000
6
1877
D e b e n t u r e s ..... ............... - ................. - .........
July 1, 1893
do
do
J. <& J.
350.000
7
15 1873 100 &c.
Lancaster & Reading, 1st mortgage............
July
2, 1883
J. & J. N. Y., Nat. B’k Com’rce
100
4
6.854.100
193
Rensselaer d Saratoga—Stock................... .................
M & N. N.Y., Del.<fe H.Canal Co Nov., 1921
1,000
1.925.000
7
79 1871
'1st mortgage, consolidated (for $2,000,000)........
srt
July
1, 1920
J. & J. N. Y., No. 2 Wall Street.
1,000
4.925.000
7
Richmond d Alleghany—1st mortgage, gold ........... 250 1880
May 1, 1910
do
do
1,000
974.000
6 g- M. & N.
250 1881
Second mortgage, gold ($4,000,000).....................
97,000
Improvement bonds ($300,000)..............................
N. Y., Met. Nat. Bk. Aug. 1.5, 1*882
Too 5.000.
000' 2
Q.—F.
825
Richmond d Daiiville—Stock....................................
M, &, N. N. Y., Central Trust Co. May 1,’85 <fe’90
1.228.100
6
141 1867 100 &c.
3d mortgage, (consol, of 1867) coup, or reg........
1915
do
do
1.000
3.102.000
6
g.
J.
&
J.
1874
141
General mort., gold (for $6,000,000).....................
April 1, 1927
do
do
4.000.
000 6
1,000
A. <& 0.
1882
Debenture mortgage bonds, cumulative............. -•
1888
500.000
8
A.
&
O.
do
do
1,000
1868
48
Piedmont branch, 1st mortgage............... ............
1902
Richmond.
A. Sr O.
6
1,000
500.000
29 1873
Northwestern, N. C., 1st mort., guar......................
1894
900.000
8
1,000
J. & J. N. Y., Central Trust Co.
38 1873
Richmond York River & Cues., 1st mortgage.......
1890
M. & N.
400.000
6
Richmond.
1,000
38 1880
do
do
2d mortgage........
1885
London.
57,327
6
g.
J.
<
fc
J.
Rich’d Fredericksburg d Potomac—Bonds, ster........
1895-’99
1902
316,594
7
Richmond,
Office.
5,
6,
Various
Dollar loan........................................... ....................
»
1890
J.
&
J.
Phil.,Townsend
W.«fe
Co.
150.000
8
Counbn bonds of 1890............................. ; ............
M.
&
N.
1901
6
Richmond,
Office.
300.000
Coupon bonds of 1 9 0 1 ............................. - ..............
Jan. 2, 1882
3
J. & J
Richmond, Office.
Too 1,009,300
” 25
Richmond & Petersburg—Stock.................................
A. & O.
do
do
1883 to ’86
100.000
8
1,000
25 1870
1st mortgage, coupon..................................... ~ - r•■
M.
&
N.
do
do
May 1„ 1915
• 139,000
6&7
25 1875 500 &c.
Consol, mortgage.....................................................
15,000,000
100
Richmond d West Pt. Ter. R. d W. C o.-Stock..........
1885
J. & J. N.Y. Central Trust Co.
2.000.
000 6
5,000
1883
Trust notes, secured by collateral.........................
J. & D. N.Y., Mercantile Tr.Co. June 1, 1912
500.000
6
1,000
31 1882
Rio Grande d Pecos—1st M.. gold,($20,000 p. m .)...
July
1, 1883
J. & J. N.Y.,byN.Y.L.E.«feW.Co
3
555,200
100
18
Rochester d Genesee Talley—S t o c k .............
Feb. 1, 1921
F. & A. N. Y., Union Trust Co.
6
1.300.000
1,000
108 1881
Rochester d Pittsburg.—1st mortgage........
New York.
Dec. 1, 1922
J. «fe D.
6
3.900.000
1,000
¡279 1882
Consol, m ortgage...,......................................
May 1, 1888
M. <fe N. N. Y., Gallatin Bank.
6
600.000
1,000
1883
2d mort. for terminal facilities..................
Various.
do
do
724.000
7
Var’s 1,000
Equipment bonds (ear trust) in 3 series.......
1882
2
J.
«fe
D.
1.500.000
*2
91
R ock Island d Peoria—Stock.............................
J. & J. N. Y., Corn Exch. Bank. Jan. 1,1900
10
150.000
91 1878 ' 25,000
' 1st mortgage........ ............- ............ - .......... •- Rochester d Genessee Valley.—Sept. 30, 1882, owned from Avon to
In Dec 1881, the R. & D. Co., as stockholder in the R. & W. P. Termi­
nal took $750,000 of the Va, Midland income bonds with $325,000 Rochester. N. Y., 18 miles. Leased July 1~ 1871, in perpetuity, to Erie
Railway,
and now operated by New York Lake Erie «W estern. Rental,
stock as a bonus, and realized a nominal profit of $275,000, and paid an
extra dividend of 1 per cent therewith. Early in 1882 the $4,000,000 $34,012. James Brockett, President, Rochester, N. Y.
debenture bonds were sold to R. & D. stockholders at 45. In April, 1882.
Rochester d Pittsburg—{S ee M a p .) —Owns from Rochester, N. Y .,
the R & D. Co. took $5,000,000 of Terminal stock at $25 per share, and southward to Punxùtawney in Pennsylvania, 204 miles;
and
cave $1,000,000 of the R. & D. stock in part payment. (The Terminal Buffalo Branch from Ashford Junction to Buffalo, 44 miles; total,
Co stock was increased then to $15,000,000.) The R. & D. was paying 248 miles. Leased, 46 miles. Total operated, 294 miles. Formerly
auarterly dividends, but in Nov., 1882, the dividend was passed for the Rochester & State Line; which road was sold and purchased
purpose, as reported, of paying off floating debt, «fee. The interest due by Walston H. Brown, of New York, and was reorganized as the Roches­
on debentures in April, 1883, was ordered to b e paid when due. See ter & Pittsburg. In Nov., 1881, an important consolidation was
partial report for 1881-2 in V. 35, p. 707.
§&%
, c
, made. (See V. 33, p. 623.) In Dec., 18S2, the new consolidated mort.
By ownership of à majority of the stock of the Richmond & West was issued in place of old income bonds and for other purposes, and
Point Terminal Railway <fc Warehouse Company, the Richmond & Dan­ to July, 1883, $L,300,000 of the incomes, out of $1,870,000, had been
ville Railroad Company indirectly controls and operates the following exchanged. The capital stock was increased in 1882, to $20,000,
'lines òf railway : Charlotte Columbia & Augusta, 191 miles ; Columbia 000, which increase wqg thus, commented upon in the annual report :
& Greenville and branches, 226 miles ; Spartanburg Union & Columbia, “ Since the close of the fiscal year—i. e., October 5, 1882—the stock68 miles ; Northeastern of Georg a, 40 miles ; Western N. Carolina Rail­ holders approved of the increase of the capital stock of the company to
road, 186 miles; Asheville & Spartanburg, 67 miles ; Virginia Midland $20,000,000, divided into 200,000 shares of $100 each. The object of
'Railway, 401 miles; total miles thus indirectly eontroiled through R. this increase was to purchase and cancel the intended issue of $3,200,& W. Pt. T er! R. W. Co., 1,182 miles ; grand total of miles directly and 000 of the income bonds of the Buffalo & Pittsburg division, and for
indirectly controlled by Richmond <&' Danville RR. Co., 2,009. The the purchase of tue entire capital stock of the Perry Railroad Co. and
Richmond & Danv. Extension Co. was organized to build Ga. Pac. RR., the Brockway ville &> Punxsutawney Railroad Company, and also to
and large advances were made to it by the Richmond & Danville Co. purchase the entire capital stock of the Rochester & Pittsburg Coal &
The annual report for the year ending Sept. 30,1882, was published in Iron Company. This latter corporation owns the most desirable coal
fields in Jefferson County, Pa., has $300,000 cash working capital, and
the Chronicle, V. 35, p. 705 and 734. ,
, „ „
,,
A later report in V. 37, p. 235, gave the income account for 9 months no bonded or floating debt. The $4,000,000 of capital stock of the
ending June 30, 1883, thus: Net revenue, $1,245,136; interest and Rochester & Pittsburg Coal & Iron Co. which our company now owns
rentals, $1,124,400 ; balance, $120,735 ; expenses for real estate and apd holds in its treasury aS an asset, is a most valuable acquisitibn, as
improvements, $338,639. For seven months of 1883 gross earnings it renders our company always sure of having a large coal tonnage
were $2,716,974, net, $1,125,831 ; against $2,556,296 gross in 1882 and at good paying rates.” In the year ending Sept. 30, 1882. gross earn­
ings were, $305,988 ; net, $101,580. (V. 35, p. 71,79, 95, 103,104,
$794,404 net.
.
In September the new board of directors issued a circular as to pay­ 133,162, 266, 291, 313, 393, 546, 638, 677, 707,763; V. 36, p. 2 8 ,
ment of interest on the debenture bonds, statifig that “ the.net earnings 109.591, 675; V. 37, p, 267, 295.)
, .•
„ 1 T „ ..
.
Rock Island & Peoria.—July 1,1882, owned from Rock Island, HI., to
for the year ending Sept. 30,1882, as shown, by the annual report, were
$1,298,034; fixed charges, $1,219,168—leaving balance o f '$78,866. Peoria, 111., 91 miles. This is the Peoria & Rock Island, sold m fore­
There was expended for new equipment and betterments, $922.848; closure of the first mortgage April 4,1877, the bondholders becoming
dividend to debenture bondholders Oct. 1, 1882, $98,760; total, the purchasers. Capital stock, $1,500,000. Gross earnings, 1882, $405^$1,021,608, which was provided out of profits on sales of securities 263; net earnings, $64j918, out of which a 5 per cent dividend was
owned by the company, and being an increase of its floating debt. It paid on the stock.
„„
Rome Watertown & Ogdensburg.—Se^t, 30,1882, owned from Rome to
thus appears from the foregoing statement that the net'earnings of the
company having been expended in providing additional new equipment Ogdensburg, 141 miles ; branches : To Cape Vincent, 24 miles ; to Pots­
and betterments as authorized by terms of debenture bonds, they should dam, 24 miles ; Oswego to Lewiston, 146 miles; Sandy Creek toSyracuse,
not therefore have beén applied to payment of dividends on these bonds. 45 miles ; leased Oswego & Rome RR.,29 miles ; Niagara Falls Br. RR., 8
For the information of the stock and bondholders of this company it is miles ; total owned, leased and operated, 417 miles. It was a. consolida­
proper to state that the ascertained net earnings for eleven months of tion Oct., 1861, of thè Watert’n & Rome and the Potsdam & Watertown
the present fiscal year over operating expenses and fixed charges have railroads. The Lake Ontario Shore Railroad was foreclosed Sept. 22,
1874, and transferred to this company January 15,1875. The Syracuse
been $307,801 ; estimated for September, $72,739 ; total, $380,540.”
—(V 35, p. 52, 189, 405, 422. 449, 457, 577, 625, 707, 7 3 4 ; V. 36, p. Northern was foreclosed, and purchased by this company August 1,
-82,140,187. 313, 332, 358, 561, 699; V. 37. p. 48, 68, 100, 111, 128, 1875. The Oswego & Rome was leased January 1,1866, at 8 per cent
151,176,235,2 6 8 ,2 9 5 ,3 4 4 ,3 7 3,4 2 1 .)
on stock and interest on bonds. The Niagara Falls Br. road was leased;
Richmond Fredericksburg & Potomac.—Sept. 30, 1882, owned from Nov. 1, 1881, at 7 per cent on its stock of $250,000. The company was
Richmond, Va., to Quantico, 82 miles. In November, 1881, there were in default on coupons of the consol, bonds since April 1,18 «8, and
voted dividend certificates for $755,039 to be issued to holders of com­ allowing the prior liens to stand, gave for the consol, mort. new bonds
per ct. overdue interest (to
mon stock (70 per cent on each share), to represent money spent on bearing 5 per cent; also funded the
the property out of earnings. The common stock is $1,030,100, and July, 1882,) into 7 per cent income bonds; also assessed 10 per cent cash
on
stock
to
pay
floating
debt,
and
gave
income
bonds for tne assess­
guaranteed stock is $500,400, and “ dividend obligations” $720,200.
A dividend of 2 per cent was paid July 2, 1882, on stock and dividend ment. In June 1883 tbe control was changed, and Del. Lack. W. maj>
aaement
ceased.
Operations
and
earnings
for
three
years past were :
obligations. Gross earnings in 1880-81, $406,927 ; net, $208,740. In
Gross
6
Passenger Freight (ton)
NeC
1881-82, gross earnings, $439,875; net, $172,543. (V. 35, p. 625.)
Earnings.
Earnings.
Years.
Miles.
Mileage.
Mileage.
Richmond d Petersburg.—Sept. 30,1882, owned from Richmond to
$487,738
$1,467,894
16,402,043
43,538,148
8 0 .409
Petersburg, Va., 23 miles; branch, 2 miles; total,25 miles. The road 18791,510,442
284,088
17,417,353
45,887,851
has earned moderate dividends and the debt account is very small. 1880- 81 r___ 409
401,581
1,814,495
1881- 8 2 . ____417
19,223,584
54,470,111
In 1881-82 gross earnings, $174,378; net, $56,596.
—(V.
35,
p.
538
;
V.
36,
p.
82,186,
652
;
V.
37,
p.
267.)
;.......
_
.
Richmond d West Point Terminal Railway & Warehouse Co.—This com­
Rutland.—July 1, 1883, owned from Bellows Falls, Vt., to Burling­
p an y was incorporated by an act of the Legislature of Virginia of March
ton,
Tt.,
120
miles.
This
road
has
been
through
many
changes.
It
was
8 ,1 8 8 0 . It is the aflxiliary corporation of thè Richmond & Danville
syndicate controlling several stocks by ownership of a majority. leased to the Central Vermont in December, 1870, for 20 years, but the
Tri April, 1882, the stock was increased from $5,000,000 to $15,000,000, lessee became insolvent, and finally a modification of the ¿ease was
the old stockholders taking two new shares at $25 per share for each old made, giving $250,000 per year as a minimum rental and $8,000 for
organization expenses. The bondholders agreed to accept 5 per cent
share owned. The Richmond & Danville Company owns $7,510,000 of bonds
in exchange for equipments and 6 per cent bonds in neu of 8
thin stock. Its stock was placed on N. Y. Stock Exchange in November,
1881. and the balance sheet was published in the Ch ronicle , V. 33, p. per cents. The 5 per cent 2ds are a first mortgage on rolling stock and
personal
property. The common stock, is $2,480,600 anu preferred
589. The company owned the following stocks, viz.: $2,550,000 Rich­
mond & Danville Extension Co., $120,000 Northeastern Railroad of $4 000,000- One dollar per share paid on preferred stock August,
1882.
(V.
33, p. 154; V. 35, p. 1 2 4 ; V. 36, p. 170 ; V. 3-7, p. 127.)
Georgia, $3,166,300 Western North Carolina RR., $100,000 Knoxville
Sabine d East Tea;««.—Sabine to Boon’s ferry, Tex., 104 miles ; thence
& Augusta RR., $1,302.400 Charlotte Columbia <&Augusta RR., $518,to
Shreveport,
La. About 105 miles completed to July, 1882. $-,600,00 0 Virginia Midland Railway, $1,001,000 Columbia & Greenville RR.;
.
and the following bonds : $250,000 Richmond & Danville general mort- 000 bonds authorized on Sabine Division. (V. 35, p. 237, 487.)
Sabine
Pass
d
Texas North.—Line of road, Marshall, Tex., to Sabine
age 6 per cents, $100,000 Knoxville & Augusta 1st mort. 6 per cents,
368,000 Spartanburg & Asheville 1st mort. 6 percents, $850,000 West­ Pass, Gulf of Mexico, 2J.8 miles. Road under construction. Stock,
ern North Carolina con. 6 per cents, $15,700 miscellaneous township
bonds. In Jan., 1883, the above trust notes were issued at 90, secured ^Sacramento d Placerville.—Dec. 31, 1882, owned from Sacramento,
bv a deposit of stocks and bonds as collateral. See V. 36, p. 56,109. Cal., to Shingle Springs, Cal., 48 miles. This Was a consohdation of
the Sacramento Valley and the Folsom <& Placerville r^ roads. April
—(V. 35, p, 7 3 5 ; V. 36, p. 56, 109.)
Rio Grande d Pecos—Laredo on Rio Grande River, to Santa Tomas, 19, 1877. Capital stock, $1,756,000. Gross earnings, 1881, $85,707
27 miles, to the company’s coal lands of 20,000 acres. Mortgage net, $35,564 ; gross, 1882, $96,531 ; aet, „$11,106. Leland Stanford»
-¿¿.-l ...•*
issued at $16,000 per mile single, or $20,000 per mile of three rail track. President, San Franciscc

§




BOKDS
STOCKS AKD
RÁILKOAD
O c t o b r e , 1883.J




RAILROAD

6 8

STOCKS A N D

BONDS.

[V dl. X X X V II.

Subscribers W i ll confer a great favor by giving immediate notice of any error discovered injtbese Tables.
Bonos—Princi­
INTEREST OR DIVIDENDS.
DESCRIPTION.
pal,When Due.
Miles Date Size, Or
Amount
When Where Payable, and by Stocks—Last
Rate
per
Par
of
For explanation of colurnu headings, &c., see notes of
Outstanding Cent. Payable
Dividend
Whom.
Value.
Road. Bonds
on first-pag^ of tables.
July
15,1875
N.
Y.,
Farm.
L.
&
T.
Co.
J.
&
J.
$100 $5,293,900
3
417
Borne Watertown dk Ogdensburg—Stock....................
Sept. 1, 1910
do
do
M. & S.
418,300
7
97 1855 100 &C.
1st sinking fund mort., Wat. & R. (extended). . . . .
Dec.
1, 1891
do
do
J.
&
D.
1,021,500
7
190 1861 500 <fcc.
Général mortgage, sinking fund.............................
Jan. 1, 1892
do
do
J. & J.
1,000
1,000,000
7
•2d mortgage........ ...................................................... 190 1872
July
1, 1922
do
do
A:
&
O.
1,000
5,498,000
5
Consol, mort., (extended July, 1882, at 5 per ct.). 409 1874
1932
Jan’ry
1,000
2,094,280
7
1882
Income bonds. — ............- ....................... - ■------July,
1901
M
.
Y.,
Farm.
L.
&
T.
Co.
500,000
J. & J.
1,000
7
45 1871
Syracuse Northern (gold)..............- - , ..............
1,500,000
M. & N. Bost., Bk. of Redempt’n Nov. 1, 1902
6
120 1872 100 &c.
Rutland—General mort. (8 per cent, reduced to 6)
1898
do
do
1,500,000
5
F. & A.
New 2d mort, in exch. for equipment bonds, «fcc. 120 1878 100 &c.
300,000
105
Sabine <£ East Texas—Stock ($4,000,000)................
(?) •
: 6*
J. & J. London and New York. Jan. 1. 1912
1882
Sabine Pass & Texas North—1st M. ($3,500,000) 1875
400,000
10
J. & J. N. Y. Central Pac- RR.
1,000
1855
Sacramento «£■Placerville -1st mortgage (S. Y. RR.)
1907
700,000
6
1,000
J. & J.
do
do
48 1877
1st mortgage (S. & P. RR.)............—.......................
M.
<
fc
N.
Mav
1, 1902
446,000
8
New
York,
9th
Nat.
Bk.
1,000
1872
29
Saginaw valley & St. Louis—1st mortg., coup.......
600,000
1,000
6 g. A. & O. Bost., Am. L. & Tr. Co. Oct. 1, 1910
120 1880
St. Johnsbury &L. Champlain—1st M.,coup. orreg
1894
M.
&
S.
358,000
7
New
York.
100
76
St. Joseph dk St. Louis—1st mortgage................
Jan. 1, 1915
J. & J.
7
1,900,000
New York.
112 1876 100 &c.
St. Joseph <£• TVesierw—1st M. St. Joseph & Pacino.
Jan. 1, 1915
7
J. & J.
1,200,000,
do
112 1876
2d mortgage.............................................................
J. & J.
Jan. 1, 1915
7
1,900,000
do
115 1876 100 &c.
Kansas & Nebraska, 1st m ortgage.......................
J. & J.
Jan. 1, 1915
7
do
1,200,000
115 1876
Kanàas & Nebraska, 2d mortgage.........................
....
J. & J.
Jan. 1, 1910
do
37-5,000
1,000
Hastings & Grand Island, 1st mort......... .........
2,300,000
100
314
Si. Louis Alton <£•Terre Haute—S tock .....................
"Ï
N. Y., Office 37 Wall st. May 1, 1883
2,468,400
100
Pref. st’ck (7 cumulative).................... .
do
do
J. & J.
1894
1,100,000
7
207 1864 -1,000
1st mortgage (series A) sinking fund.. ~j ■£
A.
&
0.
do
do
1894
1,100,000
7
500
&c.
1864
207
1st mortgage (series B) sinking fund.,
g
F.
&
A.
do
do
1894
1,400,000
7
1,000
207 1864
2d mortgage, preferred (series C)........ I r ¿ g œ
1894
M.
&
N.
do
do
1,400,000
7
1,000
1864
207
2d mortgage, preferred (series D )........ [ ftosgg
1894
M.
&
N.
do
do
1,700,000
7
1864 500 &c.
2d mortgage, income............................. g f l M
1880
M.
&
S.
do
do
10
300,000
1,000
1870
Equipment mortgage...............-........-* J o ¡5 ®
Jan.
1, 1894
do
do
June
1
1,357,000
6
1881
' income bonds, not cumulative....................... ■- - - •
1921
New
York
or
London.
A.
&
O.
2,600,000
1,000
5
g.
144
1881
St. Louis <£•Cairo—1st M., income (not cumulative)
New
York,
Moran
Bros.
A. & O.
Oct, 1, 1910
2,408)000
7
1,000
Si. Louis Ft. Scott dk Wtchita—1st M. ($15,000 p. m.) 160 1880
A. & O. N. Y., Nat. City Bank. Oct. 1, 1917
910,931
7
St. L. Han.dkX —1st M . conv. till ’87 ($12,000 pm .) M?85 1877 100 <fcc
1,000
2.700.000
St. Louis Keokuk <ÊY. IF. - Stock($l,350,000is pref.) ÌS4
Jan. 1, 1906
1,000
1.620.000
‘ 7 g . J .- & J .
135 1876
1st mortgage, gold.............................................
JaD. 1, 1906
1,000 1 1,080,000
7 . J. & J.
135 1876
Income bonds................................. ...........................
Saginaw Valley d SI. Louis—Dec. 31, 1882, owned from Saginaw 14,1875, and this company organized July 1,1875. Road completed in
to St. Louis, Mich., 39 miles. Opened January, 1873. Has a traffic autumn of 1879. Income bonds above were originally a part of
guarantee from Michigan Central. Capital stock, $264,804. In 1882, $2,750,000 first mortgage bonds, but by agreement they were changed,
gross earnings were $109.328; net $35,225. Interest payments, &c., into their present form. Gross earnings year ending Dec. 31, 1881,
$35,680. In July, 1879, management was transferred to the Detroit $368,435; gross expenditures, $488,132, including $88,876 for new
work, and $30,821 loss by floods. In 1882 gross earnings, $411,525;
Lansing & Northern.
gross expenditures, $460,939. (V. 33, p. 256.)
St. Johnsbury d Lake Champlain.—July, 1882, owned from Lunen­
St. Louis Salem <£•Little Rock.—Dec. 31,1881, owned from Cuba, Mo
burg, Vt., to Maquam Bay, 120 miles. This was tbe Portland & Ogdensburg, Vermont Division, and was reorganized under this title in 1880. to Salem, Mo., 42 miles, and branches, 13 miles ; also 17 miles of branches
Preferred stock, $1,298,500; common stock, $2,55u,000. Net earnings controlled; total operated, 72 miles. Roaches St. Louis by St. L. & San
year 1880-1, $51,667. In 1881-82, income, $242,662 gross and $43,166 F. RR. Stock is $1,000,000. Earnings for 1881 on 52 miles were $170,575 ; net. $107,115. In 1882, on 54 miles, $160,018 net. $102,057.
net. (V. 33, p. 202, 3 2 7 ; V. 35, p. 182, 2 6 4 .)
St. Joseph <£St. L ouis—St. Joseph, Mo., to No. Lexington, Mo., 76 miles.
St. Louis dk San Francisco.—Dec. 31, 1882, owned from Pacific to
Present company is successor to the St. Louis & St. Joseph Railroad, sold Seneca (main), 292 miles; branches—Granby branch, 1*2 miles; Orongo,
in foreclosure February 8,1874. Has no funded or floating debt. The Mo., to Joplin, lO1^ miles; Girard to Galena, Kan., 47 miles; Carbon
St. Louis Kansas City & Northern took a lease of the road for 99 years Branch, 3 miles; Peirce City to Wichita, Kan., 218 miles; Plymouth,
July 1,1874. The terms of the lease are an annual payment of $35,000 Mo., to Fort Smith Ark., 132^2 miles; Springfield to Ozark, Mo., 19
for five years and then 30 per cent of gross earnings, but $25,000 guar­ miles; total operated December 31, 1882, 725 miles. This com­
pany was organized Sept. 20, 1876, as successor to the Atlantic &
anteed. Stock, $100,000.
St. Joseph <£ Western.—Line-of road: East Division—West St. Joseph- Pac. in Mo. The latter was chartered by act of Congress July 27,1866,
Kan., to Marysville, Kan, 112 miles; West Division—Marysville, Kanr, and embraced the South Pacific RR. (originally the Southwest Br. of the
to Hastings, Neb., 115 miles ; Hastings & Grand Island roafi, 25 miles ; Pacific RR. of Mo)., which was consolidated with the Atlantic & Pacific
total, 252 miles. This is a reorganization of the former St. Joseph & road Oct. 25, 1870. The South Pacific Railroad had a grant of lands
Denver City road, which went into thè hands of a Receiver in 1874 by act of Congress June 10,1852, of 1,161,205 acres. The Atlantic &
and was sold in foreclosure in November, 1875. On the foreclosure Pacific received about 507,000 acres of land. The South Pacific lands
of the two divisions two companies were organized, the St. Joseph showed 405,741 acres on hand January 1,1883. Atlantic & Pacific lands
& Pacific and the Kansas & Nebraska, with bonds as above. These showed 80,479 acres on hand at same date, and for these lands
were consolidated as St. Joseph & Western, the stock is $4,100,000, (A. & P.) the second mortgage bonds, class B, are receivable in pay­
par $100. The present bonds have no lien on lands, as the land ment. The interest on bonds “ B ” and “ C ” is 5 for 1883 and 6 after­
grant of 300,000 acres was put in lands of trustees for the benefit of the ward. The trust bonds of 1880 are secured by deposit of 7 per cent
holders of the old land scrip of $2,250,000. The road is controlled by mortgage bonds of the St. Louis Arkansas & Texas RR. and .Toplin RR.
the Union Pacific and the coupons on bonds are not paid. The U. P. The general mortgage o f, 1881 (supplemented by that of June, 1832,
holds $1,536,200 of the stock of $4,100,000 and $1,303,369 St. Joseph & changing the rate of interest to 6 per cent) for $30,000,000 is made to
Pacific 1st mortgage and $1,114,661 Kansas & Nebraska 1st mortgage. the United States Trust Company as trustee, and $17,261,000 reserved
In 1882 net earnings reported as $11,651, against $34,263 in 1881. See to take up all prior debt. First preferred stock has prior right to 7 per
statement in Y. 36, p, 705. (V. 35, p. 212 ; V. 36, p, 561, 675, 7 0 5 ; V. cent (non-cumulative); then pref. entitled to 7 per cent; then common
entitled to 7; then all classes share in any surplus. The pref. and 1st
37, p. 151.1
pref. also by the terms of a resolution of the board of directors (ex­
St. Louis Alton d: Terre Haute—Dee. 31,1882, owned from Terre Haute, pressed in the certificates) had a precedence for income over any mort­
Ind., to East St. Louis, 189 miles; branches, 19 miles; leased lines— gages made subsequent to the creation of said stocks.
Belleville & Southern 111. RR., 56 miles ; Belleville & Eldorado road, from
On January 31, 1880, an agreement was entered into with the
Du Quoin to Eldorado. 50 miles ; total, 314 miles. This company Atchison Topeka & Santa Fe for construction of a through line to the
was a reorganization, February 18, 1861, of the Terre Haute Alton Pacific coast on the parallel from Albuquerque to San Francisco. The
& St. Louis Railroad. The Belleville & Southern Illinois is leased to this road was to cost $25,000,000, and to be built under the old charter
comnany for 999 years from Oct. 1, 1866. The main line (St. L. Alton of the Atlantic <fc Pacific Railway. Three trustees—John A. Stewart,
& Terre Haute) was leased Nov. 1,1882, to the new Indianapolis & St. of the U. S. Trust Company, Warren Sawyer and H. P. Kidder, of Boston
Louis Railway and the Cleve. Col. Cinn. & Indianapolis jointly. Under —were appointed to hold the stock in trust. The voting power was to be
this new lease tbe rent guaranteed is $450,000, and that amount i3 all vested in six directors of each road. The road was partially built,
that is to be paid unless the gross earnings exceed $1,750,000 in any when in January, 1882, a large interest in the stock of the St. Louis
year ending Oct. 31, and then 20 per cent is to be paid of the excess of & San Francisco was acquired by C. P. Huntington and Jay Gould,
gross-earnings over $1,750.000.
this changed the projected plans for extensions, in some respects,
This company,, in July, 1882, obtained a decision in its favor against and
and arrangements were made subsequently for building to the Colorado
the two solvent lessee companies for $221,624 again3t each. An appeal River to a junction with the Southern Pacific,
to the United States Supreme Court is pending. The Belleville Branch
The annual report for 1882 (Chronicle. V. 86, p. 3,10) had the following:
and Extension áre operated separately by this company, and earned
1880.
1881.
1882.
net in 1881, $159,907; in 1882, $238,930. The Belleville & Eldorado
$
$
Earnings—
was leaded for 985 years from July 1,1880, at a rental of 30 per cent on Passenger".....................................
424402
665,331
741,388
the gross earnings, but $15,400 per year guar.
2,342,610
2,648,383
2,180.333
Freight..... .......................................
Of the first mortg. bonds $636,000 are held in sinking fund ; of the Mail,
182,469
. 152,582
93,936
express, <&c...........................
equipment bonds $246,000 are owned by the company. The pre­
ferred stock has a prior right to a cumulative dividend of 7 per cent
3,572,240
3,160,523
2,698,371
.........
Total
gross
earnings
—
before any is declared on common. It is also convertible into com
1,625,781
1,617,966
1,506,169
Total operating expenses.......
mon at par ; but shall not receive any dividend as common stock for the
time it was held as preferred. In January, 1881, the company declared Net earnings........................... ........
1.946.459
1,542,557
1.192.202
3 per cent in cash on the preferred stock and afterward settled the re
INCOME ACCOUNT.
maining 55 per cent of accumulated dividends by the issue of income
1881.
bonds, and has since paid the 7 per cent (V. 34, p. 461, 5 7 2 ; V. 35, p.
1882.,
1880.
¿ 79,162, 297, 405, 658, 737 ; V. 36, p. 5 3 3 , 561.)
$
$
$
Receipts—
1.192.202
1.946.459
1,542:557
Net
earnings................................
•
•
- St. Louis & Cairo.—Dee. 31, 1882, Cairo & St. Louis owned from Other receipts..................................
56,857
50,648
25,598
Cairo, 111., to East St. Louis, 111. (3 ft. gauge), 147 miles. Default made
April 1,1874. Sold in foreclosure July, 1881, and bought in, in behalf
1,593,205
2,003,316
1,217,800
Total net income.....................
o f bondholders. Stock is $6,500,000, and 5 per cent interest was paid
Disbursements—
April 1,1883, on the bonds. Earnings for the year 1881, $424,480; net, Interest
821,492
705,950
1,071,815
on
debt
and
sinking
fund
$64,620 ; for 1882, gross earnings, $382,297 ; net, $145,016. (Y. 34, p. Int. accrued, not due, to Dec. 31.
49,026
101,254
109,865
147, 366; Y. 36, p. 427, 589.)
315,000
315,009
157,500
Dividends................ .......................
63,913
St. Louis Ft. Scott dk Wichita.—From Fort Scott to Wichita, Kan., 160 Miscellaneous............. ...................
105,022
162,573'
miles, completed to July, 1883. Moran Brothers of N. Y., and other
1,499,754
1,069,726, 1,408,932
capitalists, largely interested. (V. 35, p. 265.)
Total disbursements............. .
503,562
148,074
184,273
St. Louis Hannibal dk Keokuk.—Dee., 1882, owned from Hannibal, Balance, surplus............................
Mo., to Gilmore, on Wab. St. L. & Pacific, 85 miles. Stock, $1,636,000. —iV 33, P .528; V, 34, p. 62, 99. 116 147, 196, 3 1 3 ; V. 35, p. 133,
Earnings for 1881, ($34,094; net, $5,040. In 1882 gross, $81,651; 237, 266, 291, 339, 546, 577; V. 36, p.18, 197, 301, 3 1 0 , 445.)
net, $31,070. W. W. Walker, President, Hannibal, Mo. (V. 35, p. 161;
St Louis Vandalia dk Terre Haute.—October 31, 1882, owned from
V. 36, p. 427.)
-St. Louis Keokuk dkNorthwestern.—Dec; 31,1882, owned from Keokuk, East St. Loiiis to Indiana State line, 158 miles. Road opened July 1,
1870.
It is leased to the Terre Haute & Indianapolis Railroad at a rental
la., to St. Peters, 135 miles ; leased Keokuk to Mt. Pleasant, 49 miles ;
total operated, 184 miles. The Miss. Val. & Western RR. was sold April of 30 per cent of gross earnings. For the year ending October 31 1882,




O c t o b e r , 1883.J

KAILKOAD STOCKS AJNI) BONDS.

6 0

Subscribers u111 conifer o, great favor liy giving Immediate notice o f any error discovered In these Tables^
DESCRIPTION.
,
¿Vmds—Princi­
INTEREST OR DIVIDENDS.
Date Size, or
pal,When Due.
Amount Rate pei
For explanation of column headings, &c., see notes
of
of 1 Par
When
Where
Payable,
and
by
on first page of tables.
Road Bondss' Value. Outstanding
Cent. Payablf
Whom.
Dividend.
St. Louis Salem & Little Rock—1st mortgage............
•1872 i $ ....$ 1,000,000
7
A. & 0 N.Y., Union Trust Co.
St. juouis £ San Francisco.—Stock, com m on............ 725
10,500,000
Preferred, 7 per cent, not cumulative...................
10, 000,000
1st preferred, 7 per cent, not cumulative............
" ¿ is F. & A. N. Y., Company’s Office. Aug. 1, 1883
4.500.000
1st mortgage (South Pacific), gold, (land grant)... 293 1868 500 <fee. 7.144.500
6 g. J. & J.
do
do
Juiv, 1888
2d mortgage bonds, A ............................................... 293 1876 100 &c.
500.000
6 g. M. & N.
do
do
Novi 1. 1906
do
do B, g o ld ................................... 293 1876 500 &c.
2.766.500
5-6 g. M. & N.
do
do
Nov.
1, 1906
do
do C, gold.......................... ........... 293 1876 500 &c.
5-6 g. M. & N.
2.400.000
• do
do
Nov. 1. 1906
Equipment mortgage, gold.......................................
1880
1,000
603.000 , 7 g . J. & D.
do
do
June
1,
1895
Mortgage on Mo. & Western RR., gold...................
84 1879 , 1,000
6 g. P. & A.
1.100.000
do
do
Aug. 1. T919
Trustbonds.................................................................
100 1880
1,000
1.350.000
6
F. & A. N. Y., U. S. Trust Co.
1920
St. Louis Wichita & Western.................................... 145 1879
2, 000,000
6
M. & S. N.Y., Company’s Office.
i919
Gen. mort., gold, coup, o rreg ..........*...................... All
1881
1,000 ' 5,000,000
6 g. J. & J.
do
do
July 1 1931
St. Louis Vandalia £ Terre Haute—1st M. s. f. guar 158 1867
1,000
1.899.000
7 • J. & J. N. Y., Third Nat. Bank. Jan. 1. 1897
2d mort., sink, fund ($l,600,000 guar.)................
158 1868
L000
2.600.000
7
M. & N.
do
do
M ay-1, 1898
St. Paul £ Duluth—Preferred 7 per cent stock....... 182
5,121,700
3 ^ J. & J. N. Y., Fourth Nat. Bk. July 1, 1883
Common stock....................... ................... ........
182
4,055,407
1st mort. bonds, coup, or reg........................
169 1881
1,000
1,000,000
F. & A.
New York.
Aug. 1, 1931
St. Paul Minneapolis £ Maniiooa—Stock ...
1,312
100 20, 000,000
2
Q .-F . N.Y., J.S.Kennedy&Co. Nov. 1, 1883
2d M., and 1st on road from St. Paul to Watab .....
76 1862
1,000
366.000
7
J. & J.
do
do
1892
1st mort. land grant sinking fund, gold.............
656 1879 100 &c.
5.750.000
& J. New York and London.
1909
l «• J.
2d mort., gold...................................
656 1879
1,000
8 , 000,000
A. & O.
6
g.
do
do
.
Oct.
1, 1909
Dak. Ext., 1st mort., gold ($12,006 per mile)........
413 1880
1,000
5.676.000
6 g. M. & N. N. Y., 63 William St. Nov. 1, 1910
Consoi mort., gold (for $50,000.000). coup, orreg.' 1,312 18S3
1,000 10,574,000
J. & J.
6
g.
do
do
July
l, 1933
Minneapolis Un. RR., 1st mort., gold, guar..........
1882
1,000
1.500.000
6 g. J. & J.
do
do
July 1, 1922
St. Paul £ Northern Pacific.—1st M., g,, cp.or reg.. 152 1883
1,000
5,000,000
F. & A. New York and London. Feb. 1, 1 9.3
6
gSandusky Mansfield £ Newark—Re-organized stock 116
50
1,074,832
2
. . . . IstN . Bk., Sandusky, O.
(?)
1st mortgage, new.................................................... 116 1869
1,000
2.300.000
7
I. & J. N. Y.. Union Trust Co. July, 1902
San Francisco £ North Pacific --Stock......................
93
3.750.000
Savannah Florida £ West.—Consolidated 1st mort. 286 1867 500 &c.
1,780,500
~T
j. I T j .
July, 1897
Southern Georgia & Florida, 1st mortgage..........
58 1869
1,000
464.000
7
VI. & N. Sew York, H. B Plant. May 1, 1899
do
do
2d mortgage............
58 1869
1,000
200.000
7
M. & N.
do
do
May
1, 1899
Savannah Grifiin £ N.Ala.—1st mortgage...
60 1871
1,000
500.000
7
J. & J. Savannah, Cent. RR.Bk July 1, 1891
Schenectady £ Duanesburg—1st M., guar. D. & H .
14*2 1874 100 &c.
500.000
6
VI. & 8. Del. <fc Hud. Canal Co. Sept. 1, 1924
Schuylkill Valley—Stock,................................
19
5Ó
576,050
■ 2*2 J. & J. Philadelphia, Office.
the total income was $478,837, and the year’s charges against this sum -(V . 35, p. 23, 79,237, 2 6 4 , 374, 677, 706. 707, 737; V. 36, p. 427, 511
were $350,493; leaving a surplus for the fiscal year of $128,343, which 643, 675, 731; V. 37, p. 100, 152, 309, 32 0 .)
was applied to the repayment of advances heretofore made to tins com­
St. Paul £ Northern Pacific.—This company was incorporated in 1874
pany by the lessee, leaving the surplus of profit and loss, Oct. 31, 1882,
$19,368. Loss to lessee in 1879-80, $19,822 ; in 1880-81, $281,080; in as the Western Railroad Company of Minnesota, and has been in opera-'
1881-82, $70,272. The annual report for 1881-82 was published tion since 1877 from Brainerd, 60*2 miles, to Sauk Rapids. It is now
in the C h r o n i c l e , V. 36, p. 79. The first mortgage and $1,000,000 being extended about 92 miles from Sauk Rapids to the city of Minneof second mortgage bonds are guaranteed by the lessees and ap<! „ A / rlle terTri?ilal ProPel'ty comprises twenty acres at Minneapolis
also by the Pitts. Cin. & St. Louis Railroad and the Col. Chic. & I. C. Co. and 380 acres at St. Paul. The laud grant of the company, amounting to
The stock is $2,383,016 common and $1,544,700 preferred. The pre­ about 244,000 acres, is located along the line of road between Brainerd
ferred was issued for income bonds ($1,000,000) and for deficiencies and Sauk Rapids. The r<Tad, with its terminal property, is leased for
made up by the lessees. Thos. D. Messier, President, Pittsburg, Pa. 999 years to the Northern Pacific Railroad Company. The contract pro­
vides that the Northern Pacific shall pay a net rental equal to 40 p. c. of
Operations and earnings for three years past were as followlthe gross receipts, which it guarantees shall never be less than the
Passenger . Freight (tön)
Gross
Net
Years.
Miles.
Mileage.
Mileage.
Earnings. interest upon the bonds. The flivt mortgage is for $10,000,000, and
Earnings.
tnere
is a prior issue of $673,000 bonds, provision for which has been
187980 ..1 5 817,309,919
96,544,226 $1,552,801
$146,018
18808 1 .. 15819,161,449
107,089,535
1,565,515
188,574 made by the reservation of an equal amount of the 1st mortgage bonds
by
the
trustee. These old bonds are $500,000 first mortgage 7e, and
1881- 82 .. 158
18,311,812
145,982,845
■
BBLJI
408,566
1,596,126
—(V. 32, p._71, 120, 289; V. 33, p. 357; V. 34, p. 6 2 , 174; V. 36, p. 79.) $173,000 land grant bonds, mostly duo in 1896. The stock of $800,800
($10,000,000 authorized) is all held in trust by the Farmers’ Loan &
* St. Paul £ Duluth.—Line of road, St. Paul, Minn., to Duluth, Minn., 156 Trust Co. (V. 37, p. 24.)
miles; branch to Knife Falls, 6 m iles; leased: Taylor’s Falls & Lake
Sandusky Mansfield £ Newark.—Dec. 31,1882, owned from Sandusky,
Sup., 20 miles; total, 182 miles. O n Aug. 1,1882, began to operate the O., to Newark, O., 116 miles. A consolidation of several roads in 1856.
road from Minneapolis to White Bear. This was the Lake Sup. & Miss RR., Leased Feb. 13,1869, to Central Ohio Railroad, guaranteed by Baltimore
opened Aug. 1,1870, and leased to the No. Pac. Default made Jan. 1,’ 75, & Ohio, and new lease made February 23,1880, extending to December
and road sold in foreclosure May 1,1877, and reorganized June 27th. 1 , 192t>, with option to the Balt. & Ohio Company to renew for terms
The preferred stock is received in payment for lands at par. Three of 20 years each. Rental is $194,350 yearly tin 1884; then $199,350
shares of common stock have one vote, and each share of preferred has for 1.884 and 1885; then $201,850 annually. It is operated as Lake
one vote. Pref. stock has a prior right to 7 per cent from “ income from krie division of tlio B&ltimoro & Ohio system. In 1879—
80 ¿cross earnall sources, including land sales;” then common to receive 6 per cent;
$847,221; net, $208,853; in 1880-81, gross, $899,751; net, $112,then remainder of income to be applied to purchase of pref. stock. The ings
373;
in
1881-82,
gross,
$940,769;
net,
$234,701.
..
net income from 1878 having been spent on improvements, it
San Francisco £ North Pacific.—Dee. 31, 1882, owned from Donahue
was determined to issue 10 per cent of new preferred stock to the pre­
ferred stockholders of record Nov. 1.1881, payable Nov. 14, to repres­ Cal., to Cloverdale, Cal., 56 miles; branches—from Fulton, Cal., to
ent the cash so spent in improvements. The company has a land grant, Guerneville, Cal., 16 miles; and San Rafael to Petaluma, 21 miles;
of which about 1,256,716 acres remained unsold Jan. 1, 1683. In 1881 total, 93 miles. This is a consolidation of several companies. Earnings
gross earnings $732,630; net income, $117,671. In 1882 gross earnings, were: In 1881, gross, $446,972; net, $206,220. In 1882, gross, $505.v
’
$1,109,840", net, $311,246; net receipts from lands, $227,597; total 771; net, $222,987.
Savannah Florida £ Western.—Dec. 31,1882, owned from Sav., Ga,, to
net income, $538,843. (V. 34, p. 342, 3 7 7 ; V. 35, p. 162, 204, 658; V.
Bainbridge, Ga;, 237 miles; branches—extension to Savannah wharves,
36, p.254, 425 ;,V. 37, p. 152.)
’■ ’
1
St. Paul Minneapolis £ Manitoba.—June 30, 1883, owned from St. 2 miles; Junction Branch, 4 miles; Dupont to Live Oak, Fla., 48
Paul to Fergus Palls, 186 m iles; Minneapolis to St. Cloud, 63; St. Cloud miles; Live Oak to Branford, 2 4 miles; Thomasvilleto Live O ak/58
to Hinckley, 66; Sauk Centre to Browneville, 26; East Minneapolis to miles; total, 373 miles. Also from Waycross to Jacksonville, under
Breckenridge, 205; Breckenridge to Portland, 101; Everest to May- separate organizations, 75 miles. This was a consolidation in 1865 of
ville, 46; Ripon to Hope, 30; Morris to Brown’s Valley, 47; Fergus the Savannah Albany & Gulf Railroad and the Atlantic & Gulf under
Falls to St. Vincent, 204; Breckenridge to Grand Fork’s Junction, 127; the latter name. The Atlantic & Gulf road was sold in foreclosure of the
Grand Forks to Boundary, 81; Crookston to Devil’s Lake, 114 ; Fergus second mortgage on November 4,1879, subject to the consolidated mort­
Falls to Pelican Rapids, 21; Shirley to St. Hilaire, 2 1 ; total oper­ gage and other prior liens amounting to about $2,705,000. The old
ated, 1,350 miles. In April, 1883, purchased several branch roads sectional mortgages yet amount to about out $260,500. The present
o f the Northern Pacific. (See C h r o n i c l e , V. 36, p. 511.) This company has a capital stock of $2,109,000, and dividend of 7 per cent
Company was organized May 23, 1879, under the charter of the St. was paid in 1882. The report of earnings for 1881 gave $1,321,428
Paul & Pacific Railroad, and embraced the St. Paul & Pacific gross and $268,822 net. In 1882 gross, $1,675,817; net, $358,762. (V.
Railroad, the First Division of the St. Paul & Pacific Railroad, the Red 33, p. 2 0 0 ; V. 34, p. 147, 4 0 7 ; V. 35, p. 431; V. 36, p. 559.)
River Valley Railroad, and the Red River & Manitoba Railroad. The
Savannah Griffin £ North Alabama—Oct., 1882, owned from Grifiin,
company took 2,000,000, acres of land as successor to the roads above Ga., to Carrollton, Ga., 63 miles. Operated in connection with Central
named, which were foreclosed. The proceeds of land sales are reserved Railroad of Georgia. Capital stock, $1,010,900. In 1880-81 gross earn­
by the first mortgage trustees as a sinking fund for the redemption of ings* $79,113 ; net, $14,985; in 1881-82 gross, $81,216; net, $8,130.
the
8 at °r under 105 and interest, and in April, 1883, about - ( V . 33, p .5 5 9 ; V. 35, p. 5 7 4 .)
■
$750,000 of bonds were called in, the interest to cease July 1, 1883.
Schenectady <6 Duanesburg.—From Quaker Street Junction, N. Y., to
The second mortgage bonds do not cover the land. The land sales for Schenectady, N. Y., 14 miles. Formerly Schenectady & Susquehanna
year ending June 30,1883, were 104,245 acres, for $587,387, and the Railroad, and was foreclosed in 1873; reorganized and leased in per­
total cash receipts $901,281. The net amount due on land contracts petuity to the Delaware & Hudson Canal Company. Lease rental,
was $1,158,356; lands unsold, 2,411,659 acres. The Dakota Extension $30.000 per year, paying 6 per cent on bonds. Stock, $100,500.
bonds are issued at $12,000 per mile. The consolidated mort. bonds of
Schuylkill Valley.—Deo. 31,1882, owned from Palo Alto to Reevesdale.
1883 are issued to stockholders of May 1,1883, to the extent of one Pa., 11 miles; branches, 8; total, 19 miles. It is an old road, and was
half their holdings on the payment of 10 per cent of the bonds in cash. eased tothe Phila. & Read. RR. from Sept. 1,1861, at an annual rental
The authorized amount of consol, mortgage is $50,000,000, of which of 5 per cent on the stock. Operations are included in the Philadelphia
$19,426,000 is reserved to pay prior liens, and the balance may be issued & Reading reports. Has no bonded debt. (V. 37, p. 152.)
for new road at $15,000 per mile single track or $27,000 per mile double
Scioto Valley.—Dee. 31,1882, owned from Columbus, O., to AshlaM,
track. The Minneapolis Union RR. is a connecting road for other roads Ky., 132 miles. Enough of the consolidated mortgage is reserved to
$1000 000St°fv
^ Paul t0 Minneapolis, and its stock is take up the first and second mortgage bonds. In July, 1882, it was
voted to increase the stock to $10,600,000, an 1 issue a general consol,
Annual report for the year ending June 30, 1883, in V. 37, p. 320.
mortg., and extend the road from Columbus to Fort Wayne, Ind. In
INCOME ACCOUNT.
addition to above there are $100,000 equipment bonds out. In 1881
'
W*
1879-80.
1880-81." 1881-82,
1882-83. gross receipts, $450,235; net, $ 111,901. in 1882 gross earning, $549,Receipts—
$
«
a
$
net, $137,517. (V. 35, p. 104; V. 36, p. 254; V. 37, p. 20 1 .)
Net earnings........................1,533,461 1,837,817 3,113,916 4,553,468 255;
Seaboard £ Roanoke.—March, 1883, owned from Portsmouth, Ya.,7to
Revenue from Land Dep’t. 597,672
223,832
860,677
813,945 Weldon, N. C., 80 miles. Road opened 1851. The company has paid
Other re ceip ts.;.......... .
4,851
4,600
34,259
92,106 dividends for a number of years. Of the stock, $1,058,000 is common,
is 1st 7 j>er cent guar., and $44,200 is 2d guar. Owns a con­
Total income............... 2,135,984 2,066,249 4,008,892 5,459,519 $200,000
trolling interest m the Carolina Central RR. Net earnings 1879-80,
, Disbursements—
1880-81, $232,495; 1881-82, $178,587. (Y. 33, p. 559 ; V.
interest on debt.................. 947,227 1,109,951 1,188,091 1,264,279 $236,452;
37, p. 128.)
’
Dividends.............................
975,000 1,724,664
Shamokin Sunbury £ Lewisburg.—Line from Shamokin to West Milton,
Sinking f u n d .............
597,672
223’832
702,864
813,945 Pa.; with iron bridge over Susquehanna River at Sunbury. The road
Miscellaneous........... : ___ . . ‘ - 35,288
. . . . ___
157’s i2
was built by Philadelphia & Reading for its coal traffic northward.
—(V. 36, p. 561. 675, 699.)
- Total disbursements....1,580,194 R333V83 £1023,767 ihSOs’ s s i
Shamokin Valley <6 Pottsville.—Line of road, Sunbury, Pa., to Mount
Balance, surplus.,.;..... ....... 555,790
732,466
985,085 1,656,631 Carmel,
Pa., 27 miles; branch to Lancaster Colliery, 2 miles total 29




"70

KA1LK0AD STOCKS AND

BONDS.

[ F ol . XXXYII.

Subscribers w ill confer a great favor by giving Immediate notice o f any error discovered In tbese Tables.
Bonds—‘Princi
INTEREST OR DIVIDENDS.
DESCRIPTION.
pal, When Due.
Miles Date Size, or
Amount Rate per Wheif Where Payable, and by Stocks—Last
Par
of
For explanation of column headings, &c., see notes of
Dividend.
Whom.
Road. Bonds Value. Outstanding Cent. Payable
on first page of tables.
Scioto Valley—1st mort. (s. fund $13,000 per year)
2d mortgage (sinking fund, $5,000 per year) —
Consol, mortgage.................. ... — ....................
General consol, mortgage (for $7,500,000)..........
*Seaboard & Roanoke—Stock.................................. .
Shamokin Sunbury <£Lewisburg—1st mort., coupon
Shamokin Valley <£Pottsville—Stock.. ......................
1st mortgage, gold, on road and lands . ___. . . . . . .
Shenandoah Valley—1st mort. ($15,000 per mile)..
General mort., gold ($25,000 per mile)..................
3d mortgage income bonds, registered, non-cum..
'Shenango <&Alleghany—1st mortgage...................
Shore Line (Conn.)—Stock................. ....................
1st mortgage............................ .... — ....................
Sioux City <£Pacific—1st mortgage..........................
2d mortgage (Government subsidy).......................
Somerset—1st mortgage, gold..... ...... ........................
South Carolina?—Stock..................... ,
..............
Tst mortgage, sterling loa n ..................... '.............
¡1st mortgage, dollar bonds (L)................ ................
1st consol, mortgage (for $5,000,000)....................
"2d consol, mortgage.............................. ............. - -.
Incomembrtgage bonds (not cumulative):..........
So. & No. Alabama—1st M „ endorsed by Alabama.
Sterling mort., s. fund, guar, by L. & N-----South Pacific Coast—Stock...............................
South Pennsylvania—1st mortgage, gold . . . . .
Southern Cent. (N.T.)—1st mort. interest bon
-New consol, mortgage (for $3,400,000).......
Southern Iowa <6 Cedar Rapids—1st mort., go
Southern Maryland—1st mortgage, gold........
Southern Pac. o f Arizona—1st mort., gold,cp. c
South. Pac.(Cal.)—1st mor-t.,gold,land gr., cp. orreg.
Monterey, 1st mortgage . . . . — , ................
-Southern Pacific o f N. Mexico—Mort., coup, or

98
98
130
80
31
29
28
144
249
249
57
50
50
102
102
25
243
242
242
242
181
183
76
24
114
114
87
384
815
15
167
321

1876 $500&c. $1,294,000
1,000
177,000
1879
1,000
603.000
188Q
(?)
100
1,302,200
1,000
1883
1,000,000
50
869,450
2,000,000
1871 500 tfcfe.
1,000
2,270,000
1880
1,000
3,942,000
1881
1.000
1,500,000
1883
500
&e.
1,200,000
1869
100
1,000,000
1000&C.
1880
200,000
1,628.000
1868 500 &c.
1,628,320
500 &c.
100
-450,000
1871
100
4,204,160
729,975
1868 Various
500
636.500
1868
3,503.000
1,000
1881
847,000
1,000
1881
2,538,000
1,000
1881
391,000
1,000
1870
4.872,310
£200
1873
1,000,000
625,000
100,000
1877 200 &c.
2,800,000
1882 200 &c.
1,500,000
1870
500,000
9,604,000
’79-’80 1,000
34,000,000
’ 75-’82 500 &C.
1,000
250,000
1880
4,180,000
1,000
1881
1005.031,700

guiles. The road was leased February 27; 1863, to the Northern Central
Railway Company, with a guarantee of interest on the bonds and 6 per
cent per annum on the stock. The yearly reports will be found in the
C hronicle with the reports of the Northern Central Railroad. Geo. B.
"Roberts, President, Philadelphia.
Shenandoah Valley—This road is completed from- Hagerstown, Md.,
•southward to Waynesboro and thence to a connection with the Nor­
folk & Western road at Roanoke, 239 miles and branch 10 miles. A
close contract for working and an exchange of stock for N. & W. stock
"has been made ; also a contract with Pennsylvania RR. for exchange
■o f business. (See N. &W. report V. 36, p. .194.) The general mort­
gage of 1881 is at $25,000 per mile to retire the prior mortgages
-ana to construct new road. The stock is $3,6915,200. A 3d income
mortgage has been made in 1883 for $2,500,000 to bear 6 per cent if
-earned. One dollar paid on preferred stock February, 1882. For
-night months of 1883 gross earnings were $527,364; net, $97,332,
-against in 1882, gross, $231,672; deficit, $20,413. (Y. 36, p. 511; V.
237, p. 49,100.)
.
Shenango & Alleghany.—Jan. 1, 1883. owned from Greenville to
’Hilliard, Pa., 47 miles; branches, 10 miles;' total operated, 57
miles. The company made default in 1879, but the October coupons
-were paid Feb. 21,1880. Stock, $200,000. Gross earnings in 1880-81,
$140,693 ; net, $38,099. Gross 1881-82, $171,176; net, $73,855.
Shore Line (Conn.)—Line of road, New Haven, Conn., to New London,
<Jonn., 50 miles. Leased to New York and New Haven Railroad Com­
pany in perpetuity November 1, 1870, at $100,000 net per annum.
Chartered as New Haven & New London Railroad; sold in foreclosure
and reorganized under present title June 29, 1864. Dividends
in
Jan. and 4 in July. Operations and earnings for two years past were
as follows: 1879-80, gross, $319,111; net, $154,486; 1880-81, gross,
$416,620; net, $212,981. (V. 32, p. 559.)
Sioux City <£■ Pacific—Jan. 1,1883, owned from Sioux City, la .,to
Fremont, Neb., 107 miles ; leased—Fremont Elkhorn & Mo. Valley RR.,
305 miles; total line operated, 412 miles. For the year ending Dec. 31,
1882, the gross receipts were $873,562 and deficit after paying interest
and rentals, $192,473. The capital stock is $2,068,400, of which
$169,000 is preferred, receiving a dividend of 7 per cent per annum.
,«rgee balance sheet V. 36, p. 220.) A majority is owned by Cedar Rapids
.& Missouri Railroad Company. Oliver Ames, President, Nortn Easton,
Mass. (V. 34, p. 679; V. 35, p. 71, 182, 291, 431; Y. 36, p .2 2 0 , 427.)
Somerset.—West Waterville, Me., to Anson, Me., 25 miles. Capital
-stock, $377,573. In July, 1883, the bondholders took possession and
prepared to reorganize the company. Gross earnings in 1881-82,
-*27,792; net, $5,070.
South Cavoiina—Dec. 31,1882, owned from Charleston to Augusta,
« . C., 137 miles; branches to Columbia, 68 m., and to Camden, 38 m. ;
total main line and branches, 243 m. A receiver took possession in Sept.,'
1877, at the suit of 2d mortgage bondholders. The sale was made
■July 28,1881, and the road purchased byW. H. Brawley for the com­
mittee, fo r $1,275,000 over the first mortgage debt, and the company
m as reorganized with stock and bonds as above.
, T he average gross earnings per year for twelve years past have been
■$1,250,435, and the average net earnings $464,634, being 3715 per cent.
The company had in its treasury Jan. 1,1883, for improvements, new
first consol, mort, bonds, $50,000; new second, $483.000; new third
income, $462,000. The trustees also hold to take up prior liens
1,447,000 of first consol, mortgage and $170,000 of second consol.
amings for five years past were as follows :
Sears.
Miles.
Gross Earnings. Net Earn’gs.
243
$1,011,861
$371,631
.1878
Û............i ...............
^879" . ............. it................ - 243
1,052,023
337,745
:Î880"
. ................................. 243
1,217,756
341,962
1881
.
. ..................... 243
1,233,901
500,951
1 8 8 2 " " , . . . . I ............. .............. 243
1,313,820
501,190
~ (V . 34, p. 222, 345, 509 ; V. 35, p. 638 ; V. 36, p. 82, 2 2 0 .)
South & North Alabama.—June 30,1882, owned from Decatur. Ala., to
¡Montgomery, Ala., 182 miles, with a branch of 6 miles from Elmore to
Wetumpka. The road is controlled by the Louisville & Nashville RR,
<3o., which owns a majority of the stock and the whole of a 2d mort,
-bond issue of $2,000,000, due 1910, which are pledged with the Union
“Trust Co. as security for the L. & N. bonds, dated June 1,1880. 500,000
- ¡acres o f land in Alabama, largely mineral, nave been transferred to the
Louisville & Nashville Co. Common stock, $1,469,082 ; preferred stock,
$2,000,000. In 1881-82 gross earnings were $1,314,115, and net,
v$312,214. against $221,2b6 in 1880-81. Disbursements included
' $240,199 for construction and $186.235 for “ Seligman judgment,”
Heaving a deficit after all payments of $697,320 for the year. Amount
flue Louisville & Nashville RR. Co., $1,276,040. (V. 35, p. 162.)
S o u t h Pacific Coast—December 31, 1881, owned from Newark to
Junction (Felton), Cal., 45 miles; leased-Alameda Point to Newark,
25 miles; Felton to Santa Cruz, 6 miles ; total, 76 miles. There are no
Jbonds but unfunded debt of $1,943,930. Gross earnings 1880, $386,4 6 9 ; deficit, $91,023; gross in 1881, $569,968; net, $25,993. A, G.
©avis, President, San Francisco.
South Pennsylvania Railway <£ Mining Company.—South Pennsyl­
vania Junction to Richmond, Pa., 21 milès, with a branch from Rich-511011d to Ore Banks, 2 miles. Leased for 199 years from March 1,1870,

Î




7
7
7

J. & J. N.Y.,Adams & McHarg. Jan. 1, 1896
April 1, 1894
A. & O.
do
do
July 1. 1910
J. & J.
do
do

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

M. & N. Balt.,Farm.& Plant.Bk.
M. & N. Phila., Phil. & Read.RR.
F. & A. Philadelphia,Treasurer.
do
do
J. & J.
J. & J. Philadelphia & London.
A. & O. Philadelphia and N. Y
Philadelphia, Office.
Feb. 1
A. & O. N. Y., N.Bk. of Com’rce.
J. & J. N. H., Nat. N. H. Bank.
M. & S.
do
do
J. & J. N. Y. ,Nat. Park Bank.
J. & J. U.S. Treas., at maturity
J. & J.

5 g. J. & J.
6
J. & J.
6
A. & O.
6
J. & J.
6
Yearly.
8 g. J. & J.
6 g. M. & N.
7 g.
7'
5
7 g.
6 g.
6 g.
6 g.
5
6 g.
3^2

May 1, 1883
May 1, 1912
Aug., 1883
July, 1901
Jan. 1, 1909
April 1, 1921
Jan. 1, 1923
1889 & 1907
July 5, 1883
March, 1910
Jan. 1, 1898
Jan. 1, 1898
July, 1891
Feb. 1, 1883
1883 to 1888
London.
N. Y., Nat. City Bank. 1883 to 1888
N. Y.. 76 Waff Street. Oct. 1, 1920
do
do Jan. 1, 1931
N.Y., H.Talmadge& Co. Jan. 1. 1931
N. Y., Drexel, M. & Co. Jan. 1, 1890
London, Baring Bros. May 1, 1903

M. & S.
F. & A. N Y., Vermilye & Co
F. & A.
New York Agency.
M. & N.
J.
A.
A.
J.
J.

& J.
New York City. & O. N. Y., Müls Building,
& O.
do
.d o
& J. N. Y., Company’s Office
& D.(Savannah,Cent.RR. Bk.

Mar.
Aug.
Feb.
May

1. 1900
1, 1887
1,1922
1, 1900

Mar., 1909-10
1905-6 & 1912
April 1, 1900
Jan. 1, 1911
June 26,1883

to Cumberland Valley Railroad Company. Road originally organized
under the name of Southern Pennsylvania Iron & Railroad Company,
but was sold by foreclosure of second mortgage. December, 1872, and
reorganized under present name. Capital stock, $800,000. (V. 37, p.49.)
Southern Central (N. T.)—Sept. 30,1882, owned from Fairhaven, N.Y.,
to Pennsylvania State Line, 114 miles. Road forms an extension into
New York State for Lehigh Valley Railroad. Default was made Feb.
1,1882, and the bonds and coupons'were exchanged for new consols at
par, the $400,000 of guaranteed 2ds being paid by the Lehigh Valley
Co;, which received new 5s for them. The new 5s are convertible into
stock at option of holders within ten years. Capital stock paid in is
$1,790,234. In 1879-80, gross earnings were $455,467; net, $149,237;
m 1880- 81 gross $526,429; net, $141,141. (V. 34, p. 178; V. 36, p. 427.)
Southern Iowa <6Ced. Rapids.—In progress. Ottumwa to Ced. R., Iowa.
Southern Maryland.—The Southern Maryland Railroad is designed to
extend from Point Lookout, at the mouth of the Potomac River, to
Washington, where it will make connection with the Baltimore & Poto­
mac Branch of the Pennsylvania Road, and with the Washington &
Metropolitan Branch of the Baltimore & Ohio Road. The length will be
7 7 miles, JohnVanRiswick, President, Washington, D.C. (V. 36, p.445.)
Southern Pacific o f Arizona.—This is the connecting line of the South*
ern Pacific of California, extending from Yuma to New Mexico boundary,
384 miles. The stock is $19,995,000. Operated under leas® to Central
Pacific till Nov. 1, 1885, at $135 per mile per month. Rental for 1882,
$634,355.
Southern Pacific o f California.—Dec. 31,1882, owned in North. Div.
San Francisco, to Tres Pinos, lOO^ miles; Carnadero June, to Soledad,
eoig miles; and leased line, Castroville Junction to Monterey, 15 miles;
total in North. Div., 176 miles. South. Div., Huron via Goshen to Col­
orado Riv., 529 miles; Mojave tqwards the Needles, 131 miles; Los
Angeles via Wilmington to San Pedrcr, 25 miles; total South. Div., 684
miles ; total South. Pacific in Cal., 860 miles. At Goshen the Southern
Div. meets the San Joaquin Branch of the Cent. Pac., by which it reaches
San Francisco and the main line of Central Pacific. The line Mojave
Junction to Colorado River, 278 miles, was finished in 1883. (V. 34, p.
178.) The Southern Pacific, at its terminus at Yuma, connects with
the Southern Pacific Railroad of Arizona, an independent but closely
affiliated company, some 385 miles, to a junction with the New Mexico
Division of 171 miles more to El Paso. Thence the lino runs over the
Galveston Harrisburg & San Antonio Extension to Sad Antonio, and so
on to New Orleans. In Feb., 1883, a Southern Pacific syndicate pur­
chased the entire interest in Morgan’s La. & Tex. roads and steamships,
including a control of Houston & Texas Central stock.
The bonds above are in series A, B, C. D and E, of which A includes
$15,600,000 and B, C, D and E each $5,000,000; there are also tw o
other series, F of $5,000,000 and G of $6,000,000 for new construction
(See V. 35, p. 706). Land grant is 12,840 acres per mile, and proceeds
of sales go to pav bonds. The total grant is estimated to furnish
10,445,227 acres net. In 1882 the sales were 103,538 acres for $494,934*
Besides these sales a sinking fund of $100,000 per annum went into
operation in 1882. Stock paid in is $40,363,900. The Central Pacific
Railroad Company has taken a lease of the southern division of this
road for a period of five years from January, 1880. By the
terms of the lease, the net rental is $250 a mouth, or $3,000 a year,
per mile, and if it shall be reduced by mutual consent, the rental shall
be at least sufficient to pay interest on bonds. (See article in C h r o n ic l e ,
V. 36, p. 353, as to the profits to the lessee company.) In 1882 the net
income was $146,138 on North. Div. and $1,666,666 rental on South,
Division, and $159,000 from contract with Wells. Fargo & Co., making
total income, $1,971,804, out of which was paid $1,712,434 for interest,
and $100,000 for sinking fund, leaving a surplus of $159,370. (V. 35,
p. 7 9 ,1 0 3 ,2 9 1 ,3 3 9 ,4 0 5 ,4 5 4 ,5 7 8 , 706; V. 36, p. 70, 170, 212, 352,
471, 591; V. 37, p. 68, 2 6 5 , 343.)
Southern Pacific o f New Mexico.—Road extends from Arizona State
Line to the Rio Grande at El Paso, Texas, 167 miles. Operated under
lease to Central Pacific till Nov. 1, 1885, at $135 per mile per month.
Rental in 1882 was $285,638. Stock, $6,888,800.
Southwestern(Oa.)—From Macon, Ga., to Eufaula, 144 miles; has 177
miles of branches, the main one being from Fort Valley to Columbus, 71
miles. A lease Was made Aug. 1,1869, to the Central RR. of Georgia
which assumes the liabilities and guarantees 7 per cent on the stock,
but 8 per cent is to be paid if 10 per cent is paid on Central stock.
In June,. 1881, $32 per-share in 6 per cent debt certificates was declared,
by Central Georgia Railroad.
Southwest Pennsylvania—Greensburg, Pa., to Fairchance, P., 44 miles.
Opened April 1,1873, and leased to Pennsylvania Railroad, which oper­
ates it at cost, paying net earnings as rental. In 1881 gross earnings
were $710,595 and net earnings, $409,038. Interest on bonds and 9
per cent on stock were paid out of net earnings of 1882. 5 per cent paid
on stock, March, 1883.
’ Spuyten Duyvel <6 Port Morris.—Road is 6 nfiles in length and connects
the New York Central & Hudson "with the New York & Harlem. Leased
to New York Central November 1,1871. Rental is 8 per cent on capital
stock of $989,000. Operations are included in lessee’s returns.
State Line & Sullivan —January, 1883, owned from Monroeton, Pa., to
Berenice, Pa., 25 miles Originally organized as Sullivan ifc Erie Coal

OCTOBER, 1883.]

RAI LEOAI)

STOCKS AND

BONDS.

71

Subscribers w ill confer a great favor by giving immediate notice o f any error discovered i
in these Tables.

DESCRIPTION.
or explanation of column headings, &c., see notes
on first page o f tables.

Bonds—Princi­
INTEREST OR DIVIDENDS.
Date Size, or
Amount
Due.
of
Par
Rate per When Where Payable, and by pal,When
Stocks—Last
Bonds Value.- Outstandini
Cent. Payable
Whom.
Dividend.
Southwest Pennsylvania—Stock..... ....................
$546,150
M. &~S.
1st mortgage ................. .
.
............. "’ ' ‘ "~
Sept., 1883
1877
1,000
. 962,000
P. & A. Phila. and Greensburg. Feb., 1917
SpuyteJi Duyvil <6Port Morris—Stock."
989.000
J. & J.
New
York.
State Line & Sullivan—1st M., conv. (red’ble aft.’88)
July, 1883
1878
Too
205.000
J. & J. » _Y., Union Trust Co. Jan.
Staten Island—1st mortgage........ ........................... .
1, 1899
1873
1,000
300.000
A. & O. K - V., Company’s Office. April
Sterling Mountain (IV. Y.)—1st mort.,-income, guar.
1,1893
1881
1,000
475,674
Feb.
New York.
Stockton c£ Copperopolis—1st mort., (guar, by C. P.)
July
7.
1875 500 &c.
500.000
J. & J. F'.- Y., Central Pacific. January. 1895
Summit Branch (Pa.)—Stock.....................................
1905
. 50
4,010,350
& A. Prila., 233 So. 4th St. Feb. 16,1876
1st mortgage bonds........ ............................... ......if
1,000
1.300.000
& J.
Jo
do
Sunbury <£- Lewistown—1st m ortgage.....
Jan. 1, 1904
500
500.000
&
.1.
Phil a., Guar. T. & D. Co July 1, 1896
Siispension Bridge <£Brie Junction—Stock
500.000
1st mortgage.
___............................... 23
Yearly.
l'.ò’oo 1, 000,000
7
J. & J N. Y. Lake Erie & West. July
Syracuse Binghampton & N. T.—Stock
1900
100
2.500.000
F. S\A, N.V., D .L .& W .R R . Co. Aug.,1,1883
(?)
2d mortgage (now first)........................................
1,000
270.000
J.
&
D.
do
do
Consol, mortgage (guar. D. L. & W.).................*'
June,
1887
1,000
1.750.000
A. & O.
do
do
Syracuse Chenango a New Tor7c—Funded debt” ”
Oct. 1, 1906
50 &c.
261.400
F. & A. Syracuse Savings Bank. Aug.
Syracuse Geneva <£ Corning—1st mortgage
1, 1907
955;600
M. & N. 27.Y.,Farmers’ L.& T.Co Nov.
2d mortgage
............................ ............ !" ” ! ”
15,1905
600,000
M.
&
S.
Terre Haute <&Indianapolis—Stock
Mar.
1,
1909
114
50
1,988,150
A
F. & A. N.Y., Farmers L.& T.Co Aug. l , 1883
Bonds ot 1 8 7 3 . ...................................................
1,000
1873
1.600.000
7
A. & O.
do
do
Terre Haute <£ Logansport.—Stock
1893
116
50
500.000
1st mortgage, guar, by Terre Haute & Ind’napoiis
93 1879
1,000
500.000
” 6’
J. &” j . ST.Y., Farmers’L.& T.Co
Texas Central—1st mortgage, gold
143 1879
1,000
2.145.000
M. & N. N, Y., J. J. Cisco & Son. Nov, 1910
_ New mortgage, gold (2d on 143 miles) .................
1, 1909
84 1881
1,000
1.254.000
M . & N .
do
Texas-Mcxican— 1 st mortgage, gold ($15,000 p. m.)\
May 1, 1911
1881
1,000
2.500.000
J. & J.
Texas <&N. Orleans o f ’74—1st inortg. landgr., coup
July 1,1921
1875
1,000
1.620.000
F. & A. N. Y., 54 Exchange PI, Aug. 1, 1905
Texas <&Pacific—Stock....................
1,391
32,191,500
1st mortgage, gold, coup. (E. Div.)
524 1875
1,000
3.969.000
M.'&'S. Phila.', N.York &London March 1, 1905
2d mort., consol., gold, coup. (E. Div.) .
524 1875
1,000
9.131.000
I. & D.
do '
do
Income and land mort., E. Div.. reg__
1, 1905
524 1875
1,000
8.682.000
7 ;
July. New York& Philad’phia June
Jan. 1, 1915
Scrip for int.on inc.mort. (red’mable inst’kor land)
1880-1
890,090
1st mort., gold, land grant, Rio Grande Division. 521 1880
i‘
,
òbo
13,028,000
F. -& A. N. V., Mercantile Tr. Co. Feb. 1, 1930
New Orleans Pacific, 1st mortgage.................
336 1880
1,000
6.720.000
J. & J.
do
do
Texas <£•St. Louis in Mo.& Ark.—1st mort., gold
July 1, 1920
1,000
1881
4.740.000
M. & S N.Y.,Nat.Bk.of Com’rce Oct. 1, 1911
2d mortgage, incom e...... ...... .................
500
1881
4.740.000
!* • March.
1st mortgage, gold, in T exas.................... ” ” ” ” * 266 1880
3, 1911
1,000
2.128.000 I
6 g. I. & D. N’Y ,Nat.Bk.of Com’rce JOct.
u n e l, 1910
RR. Co., which was sold in foreclosure Oct. 14,1874, and a new companv
trol as the Mexican National. W. J. Palmer, President Land irrant 1r
5nn^1«-fvPe'r?ml)er J2’ 1874’ under the present name. Stock, $990,000. sections per mile. Stock authorized $12,000,000. (V. 33, p. 528 ) 16
<par $oO). The mortgage covers 5,000 acres coal lands. In 1881-82 ¿rose
. arnmgs were $171,343, and net earnings, $36,428
S
{of 1874).-H ouston, Tex., to Orange (Sabine
miles. In -August, 1881, this company acquired the La Jb
i
j ' Ij0Cal road on Staten Island, Stapleton to Tottenville, S ?)?1b
i^
Ca-, to Orange, Texas, 112 miles.
13 miles. Road was purchased by present owners in 1874 and is
m connection witl1 Staten Island Ferry Companw Capitat In Au„., 1882, it was voted to increase the stock to $5,000 000 for tb«
oi, a c t i n g the Sabine & East Texas road. Tiffs was a reor4®
stock, $210,000. In Oct,, 1883, leased to Staten Island Rapid Transit
non non8741 of tlle °U Texas & New Orleans RR. The stock^ia
’ £ross>$304,000; net, $80,000. $1 dividend
^ ntI'°J1ug interest was reported sold to C. P. Huntpaid Sept.,1883. (V. 34, p. 107; V. 36, p. 724; V. 37, p. 400.)
the Southern Pacific. Gross earnings, 1881, $763,361 -net
Sterling Mountain (N. Y.)—Road runs from Sterlington on the Erie
Ry. to LakeviUe, about 8 miles. Bonds guar, by Sterling Iron & Rail­ f I ’5 i t : s ! , f : &
f v 6g ° P! 8 0 * * ? *
* * *
way Co. Stock, $80,000. Earnings 1881-82, $4^505. (V. 33, p. 359.)
Texas <£ Pacific—{S ee M ap, P a g e 51?)—June 30.1882 oneratart
J®
,25.^ iuiies; Texarkana to Fort Worth.
N<?vpmW fn C^ n
e <ypt\\s-~ £ re^lnt company is a consolidation, made
Sliex*xria/Ti, 244 miles; Marshall to Shreveport,
Ia I « * ™7hof the S t o i C o p p e r o p o l i s and the Stockton &
o4_local 40 miles* total
Visalia.Lm e of road, Stockton to Milton and Peters to Oakdale, Cal 49 eastern division .^Tmiina
e8*-n Ceased to Central Pacific Railroad Company for thirty years
3,i° ! \874' +
ter*ils of the lease the lessee agrees to
pay prmcipal and interest ot the bonds. Capital stock, $234,5ob. The
®?“ Paay previously made default July, 1874, and the $1,000,000 of
r o M^ e^ s .T i a c p a
o ^ e“ “d4
S tJ w sa .
old bonds were exchanged for the present issue guaranteed.
Summit Branch (Pa.)—This company operated the Lykens Valley
th ou gh the Northern Cent. RR. Co., and it has a small branch of its
own to Summit Mines, % of a mile. Traffic is almost exclusively co&l comn^uies*11TiJgllt ° f V16 iV4empÎüs .E1 p aso & Pacific Railroad and o th ^
P*oss ?ecep t « m 1882, including coal, $1,368,929; net, $193,293 • companies. By a contract made in January, 1880, with the Paeifin
PomPany, the road was extended towards- E l
interest and advances, $186,188. (V. 33, p. 125.)
K pP s& S
Rio Grande, to me.et the Southern Pacific of California.^ with
Sunbury & Lewistown.—Selinsgrove Junction to Lewistown, Pa., 43 $25,000 m bonds and $25,000 in'stock per mile of road. The Fidelity
Ceased to Pennsylvania EE- for net earnings, which in 1880 were lasuranœ Trust & S. D. Co. of Philadelphia are Trustees of thé Rio
S i o 81’ $119>24°: in. 1882, $120,065. Stock, $600,000 and ^ a n d e Div. mortgage. The stock authorized is $50,000 000 A condividends of 12 per cent were paid for two years and 10 in 1883, to Nov
* * sh™*’ was voted in May
Suspension Bridge a Erie Junction.—East Buffalo Junction to Niagara «■p i ' j Fiom the State of Texas the company received 10 240 icre«
Falls and Suspension Bridge, 23 >4 miles. Road opened January, 1871. of land per mile, and by building east of Fort Worth earnedA 666 845
leased to New York Lake Erie & Western Railroad Co. at 30 per mC«v+8
uusold), on which the income bonds are a lien, as also a 3d
eent of gross receipts, which are guaranteed to be not less than $105,000 mortgfig6 on tho road east of Fort Worth. The railroad, lands in Texas
|?g
ooft UI¥'«c,I088 t0 lessees in 1880-81, $17,901. In 1881-82, loss,
n a *-6 a(^ a?eP^
the roads owning them, and
$18,296. Lessees own all stock except 297 shares.
Tho R ri TviCat®<1V1 Part m counties along.the Rio Grande division.'
Syracuse Binghampton <6 New York —Sent 30 3 882 mmcfl frnm
were a mortgage on the lands earned by building
’¿paJvs, N. Y., to Brnghampton^*!!. Y ^ 81 r^ es. ^ h a r ^ r é d '^ S ^ ’a^cuse Îo^ ted '1810111 wluclx would have amounted to about 5,375,00^0 acres g
a
^Aai? i )^ T1„ a51d1open®d. 0c4' ?3, 1854; foreclosed mid reorganized
jased Win sued to hoMers of income bonds up to July, 1881, and then
ta a n a ? ’ 1857’ and. leas®d to Delaware Lackawanna & Western. In
by bondholders to collect
4 ? f ? Ì A ’Agri )-S8- l ar^mg8’ $ 1.° 61,489; net, $597,915;
, T ,
. r cent scrip would be issued
forT h ÿ ’ two
• i Syuars to July, 1883. Tlie interest scrip is payable only in
net, $538,270; interest, $141,400; dividends, $250,000. (V. 36, p. 1 4 1 )
laud and interest at 7 per cent is allowed on it only when
y wueu
« n s fiT T
Aew ror^.-Sept. 30, 1882, owned from'syra- turned m m payment for land.
Y., 43ia miles. The Syracuse & Chenango • I^ r the year 1882, see balance sheet, V. 36, p. 423. Gross eamino-s»
Marcii ? 4 ki 873Wfin fw m foreclosure and a new company organized m 1882, $5,919,732; net, $1,343,291, (V. 33, p. 48, 102 117 15 ^ 1 7 8
Aniu i 1077
.naffl.® of ^Syracuse & Chenango Railroad. 256. 3816 404, 461, 470. 56i, 623, 687, 716 ; V 34 p 205 292 • V 35*
l 5’, 1
Foa? w,aB a^ain
in foreclosure and present company p. 52, 162, 313, 3 19, 517; V. 37, p. 49, 68, 392, 424.)
’
5*
x
i
y
t lso I ecame embarrassed and passed mto the hands of
Missouri and .Arkansas.-^Narrow-gauge road
lam es J. Belden, January, 1879, as Receiver. In January, 1880, from Birds Point, Mo., opposite Cairo, 111., to Texarkana Tex 419
r®ad was sold to the Boston Hoosao Tunnel & West, syndicate and miles, and thence by the “ Texas & St Louis RR. in Texas5’ to Gate^
ii11!?8 ’ ..lotal> main line, 723 miles; branches, Paw Paw to
» i ? 11S i f l - 8$90ki
7 f 5<^net,
T 0$3,915.
^ ° ^ ° nIn
r ^ 1881-2,
^ 0 gross
« “ earnings,
^™ $90,1(3,
New Madrid, 6 miles; McNeil to Magnolia, 6 miles; total, 735 miles
33 p 178
after cllarglIlg out mterest account, $26,413. (V. onn1ufr?«0- ? i8 $^>532,500 (par $100), which amount includes $3,945,0
deP°8ited in trast to take up a like amount or the old stock of the
Syracuse Geneva ¿C o rn in g .-S ep t. 30, 1882, owned from Coming,
Loms m Tekas. Also enough of the general first mortgage
^ i J ° i ® en^va> Y -* 57 miles. This road was opened Dec. 10,1877,
lnrS?me t>onds are reserved to retire the old first mortgage
and
is
leased
to
the
Fall
Brook
Coal
Co.
stncir
is
«1
onn
ruin
rU
and
incomes.
ner mile
1- e company
c°mpany issues
issues *12.500
$12,500 per
mile in
in 1st
1st mnwSoS«
mortgage
t qoa oi _
• ----- W --------- W w . Stock is $1,200.000. In hnns« « ^ T I a a The
up!
6 T^i ^Q8! QO™ $513>59-1; operating expenses, $329,377; bonds, $12,500 incomes and $12,500 stock, and the incomes are a 1st
net, $184,214. In 1881-82 gross earnings, $538,943; net, $42,954.
was* l
lafnd gra,nt a-ad a 2d mortgage on the road. Land grant
i aaa^A a40 cres for cad1 mile of finished road in Texas, but only about
n i ^ + ^ o A ^ Indi^ ip o lis .-O c t. 31,1882, owned from Ind’napoiis to 1,000,000
acres are assured. See full statement in C h r o n i c l e , v 37 b
HI. State L., 80 in., with coal branches, 34 m.; total, 114 m. The road was
24.
J. W. Paramore. President, St. Louis. (V. 35 n 23 103 169 i « 9
opened in 1852 (as Terre Haute & Richmond). The companv leases
5 6 i 675, 6°76,73i ; V.’
^ i o S ’ r8 the Terre Haute & Logansport RR., also the St. Louis 37 p f 2 4 ,1 ! M 7 ’ 487’ 603 5 V ' 36’ P- 18’
7 aadalm & Terre Haute Road on joint account with the Pittsb. Cm. & St.
a^ estkpn-~Projected from Houston, Tex., to Presidio Del Norte,
^ i50 per cent of Sr°8S earnings, but guarantees the first and rrISX
le x ., 900 miles, a,ncylinder construction. In operation Bee. 31,1882
toes * l 33° 8tiib-°t!<iai f^ 4881' 82gross earnings, $1,285,433; pet eam Houston to .Sealey, 52 miles, connecting with Gulf Col. & S. Fe RIL
niet
$483,842; mterest and 8 per cent divi- Stock authorized, $3,000,000. Land grant 10,240 acres per mile. Fred
t o s son
onIbt.
t 7T’
l088 0?
T- & L>$61,807.
Jease> $186,928; D. Grant, President, N. Y . City. ~
*Joss
L. y. & T. H., $14,054; balance
of -income,
September 30,1882, owned from Arnot, Pa., to State IItia New
° o t ; Si, 1882, owned from Logansport, Ind., York, 44 miles; branch, Blossburg, Pa., to Morris’ Run, Pa., 4 miles *
a 4 ^ es; leased, Rockville to Terre Haute, 22 miles. leased, Elmira State Line Railroad, State line New York to N C Rail!
Total operated, 116 miles. Formerly Logansp. Crawfordsv. & Soutliw
w.ay Junction, 7 miles; and Arnot & Pine Creek RR., Arnot to Hovtwhich was sold in foreclosure Sept. 10, 1879, and reorganized under ville. Pa., 12 miles; total, 67 miles. Controlled by N. Y. L. E & W
«o6d Terre. H)mte & Indianapolis Railroad for 25 The stock is $391,200 common and $189,700 preferred. In 1880-81*
per cent of gross earnings, and first mortgage bonds guaranteed bv
183 l-82 gross, $562,335/
that company. Rental, 1880-81, $64,649; in 1881-82, $80,313.
^ l e t f $197!913f ’ (V493536 B 1 3 ? ’ $187’900;
Toledo Ann Arbor & Grand Trunk.—Dec. 31,1882, owned from Toledo
m
Line of road from Ross, in McLennan Co., to Albany,
Texas, 177 miles; Garrett to Roberts,-52 miles; total, 229 miles. Gross O., to So. Lyons, Mich., 61 miles. A consolidation, Oct., 188u, of Toledo
earnings on 343 miles in 1880-81, $247.707- imt $128 670 Ta ISS i & AQ]I Al4)Sr ^nd Toledo Aim A - & Northeastern railroads, connecting
82 on 180 miles, gross, $269,542;’ n ä Y S Ä
Stoc’k / $1,500^000: WfiiiyGrwd Trunk of Canada. Annual report in V. 37, p 98 S to c#
C. A. Whitney, Pres., N. O. (V, 3o, p. 373; V. 36, p. 675.)
S 'om CorPus Christi, Tex,, to Laredo on the Rio
Toledo Canada Southern <& Detroit.—Toledo. Ohio, to Detroit tn
Grande, 16o miles. Charter covers 1,400 miles in all. Under same conT. Junction), Mich., 55 miles. Road opened September 1,1873. O perl




fi

ÏI:

I

7*2

ßAILEOAD

STOCKS AND

S u b s c r ib e r s w i l l e o n fe r a g r e a t f a v o r b y g l v in
DESCRIPTION.
Miles Date
of
For explanation of column headings, &c., see notes of
Bonds
Road.
on first page of tables.
Texas d St. Louis in Mo. d Ark.—(Continued) 2d mort., income bonds. 1st inort. on la n d ---General 1st mort., gold, in T e x .................. .
. General let mort. land grant and income bonds .
Texas Western (N. G.)—1st m o r t g a g e ................
Tioga EE.—1st mortgage, due 1882 and extended.
Consolidated mortgage.............................. I.........
Extension bonds.................. - .............................. - Toledo Ann Arbor & Grand Trunk—1st mort., gold
Toledo Canada Southern d Detroit—Stock...............
Toledo Cincinnati & St. Louis■—Stock................... .
1st mortgage, g o l d ...............................................
2a mortgage, income, not cumulative.. *.............
Tol. Del. & B., 1st mort., Tol. toiKok
2d M., inc., non-cum., Tol. to K ok...
do
1st mort., Dayton Division................
do
2d M., Dkyton Div., inc., non-cum.. . .
do
1st mort., Tol. terminal trust “ A” ...
do
1st mort., gola, Southeastern Div......
do
Income bds, Southeast. Div., non-cum
do
Cincinnati Div., 1st mort., gold ....
do
do
income, non-cum..
do
Eauipment bonds.......... ..................
do
Iron RR., 1st mortgage.....-............
do
do
incomes............'...........•do
Tonawanda Valley d Cuba—1st m ort...................
Trov d Boston—1st mortgage, consolidated........
New mortgage bonds (for $1,000,000).............
Tyrone d Clearfield—Stock....................................
Ulster d Delaware—1st mortgage. — ............. *- •2d mortgage income bonds..................................
.
'Union Pacific—Stock................... ...................- —
1st mortgage, gold, on road and eqmpment. . . . .
2a mortgage currency (Government subsidy). .
3d
do
on road (2d on land), sinking fun .
Band grant bonds on 10,514,789 acres..... . —

190

54
54
61
55
757
270
270
181
181
102
102

1880
1881
18S1
1882
1852
1876
1881

[V o l . X X X V II.

BONDS.

immediate notice of any error discovered in these Tables.
Par

$500
1,000

500

1,000

'
50
1,000
is s i
500
&c,
1881
1,000
1880
1,000
1880
1,000
1880
1,000
1880
1,000
1880
1,000
180 1881
1881 500 &e
1,000
22 1881
1,000
1881
1881
1881
1881
1,000
60 1881
1,000
35 1874
1,000
53 1878
64
74 1876 - 1,000
1875 100 <fcc
100
1,820
1,038 180(3-9 1,000
1,000
1866-9
1,038
1,038 1874
1867-9 1,000

ated by'Canada Southern. The bonds were exchanged into Canada
Southern first mort. bonds at 70 per cent of face value. (V. 32, p. 33b.)
Toledo Cincinnati d St. Louis.—This is the consolidated line (narrow
gauge) of the Toledo Delphos & Burlington and Toledo Cincinnati & St.
Louis. Owns from Toledo to St. Louis, Mo., 451 miles; branch, Delphos
to Dayton and Shanesvillebr., 102 miles; Southeastern Division, 185
m iles; Cincinnati Division, 17 miles; Iron RR., 24 miles; total, 757 miles
•June 1883. In November, 1882, the company needed funds, and a plan
was made in Boston to raise $800,000 by subscription of parties inter­
ested they taking 8 per cent debenture bonds as security. The interest
coupons due in 1883 and 1884 on the first mortgage bonds, m April,
5 «83. were being funded into 6 per cent scrip due Oct., 1891.. It was
proposed to exchange all Income bonds for preferred stock, m shares
o f $50 each, and a considerable amount was so exchanged. In July,
1883 Mr E. E. Dwight was appointed receiver, the company being
. ’
- - j i...x j—a—x
t^ocj ordered discharged by the court

Tonawanda Valley d Ouba.-Bept. 30,1882, owned from Attica, N. Y
to Cuba, N. Y., 60 miles. Stock $598,200. ¡Securities listed at N. Y.
Stock Exchange December, 1882. Of the above bonds $130J)00 are
reserved to redeem a prior issue. R. G. Taylor, Buffalo, N. Y., Presi-

! ■ ..Is—Princi».
INTEREST OR DIVIDENDS.
pal,When Due.
Amount Rate per When Where Payable, and by Stocks—Last
Outstanding
Dividend.
Whom.
Cent. Payable
6
$2,128,000
1.817.000
1.817.000
6
2,000 p. m.
7
239,500
7
125.000
7
265.000
1.260.000
6 g.
1,547,662
15,000,000
3.000.
000 6 g.
3.000.
000
6*
1.250.000
6
1.250.000
1.000.
000 6
6 '
1,000,000
6
250.000
2.250.000
6 g.
6
2.250.000
6g.
•250,000
6
250.000
7
2.052.000
6
500.000
6
500.000
6
500.000
7
1.380.000
7
865.000
1,000,000
313
7
159.000
7
1,342,600
1\
60,854,105
6 g.
27.229.000
6
2*7,236,512
8
13.861.000
7
4.670.000

June 1,
A u g ."l,
New York.
& D.
Aug. 1,
& S.
Feb. 1,
& A.
& N. N.Y., Bk. of N. America.
-Nov. 1,
Oct. 1,
A. & O.
J. & J. N.Y. .Farmers’ L.&Tr.Co Jan. 1,

J.
M.
F.
M.

New York or London.
N.Y., G. W. Ballou & Co.
do
do
do
do
do
do
A. & O
do
do
do
do
J. & J
A. & O. New York and London
N.Y., G. W. Ballou & Co,
dq
do
A. & O.
do
do
do
do
do
do
J. & J.
do
do
Jan. 1.
New York Office.
M. & S.
& J N. Y., Nat. B’k of Com.
do
do
& O
& A Phila., 233 South 4th.
& J Rondout, ' Co.’s Office,
do
do
& A,
Q.—J. ¡New York and Boston.
J. &J.l do
do
J. & J. ILS. Treas., at maturity.M. &S. New York and Boston.
A, &0.1
do '
do

J. & J.

1920
1921
1931
1922
1896
1905
1921

1921
July 1, 1921
Jan. 1.JL91»
Jan. 1, 1910
April 1, 1910
April 1, 1910
July 1, 1910
April 1, 1921
A p r ili, 1921
A p rili, 1921
A p rili, 1925
1901
1911
Sept. 1, 1931
1924
1903
Aug. 15, la s s ’
1906
July 1, 1905
Oct. 1, 1883
1896 to 189»
1896 to 1899Sept. 1, 1893
1887

earnings are not included are the Central Branch, 383 miles; Man­
hattan Alma & Burlingame, 28 miles; Manhattan N. W., 4 miles; ana
Nevada Cent., 93 miles. Of the 2,359 miles of branch roads on which the
gross earnings were, as above, $7,540,043, there is no detailed inform a-,
flon in the) report except that the Presiaent says: “ The earnings or
these lines, after the expenses of maintenance and operation were
deducted, amounted to $2,211,099,” and this is credited in th e y . Pincome account as the amount received from stocks and bonds of the
auxiliary companies.
. m.
The annual report for 1882 was published m V . 36, p. 282 The
earnings, expenses, income account and balance sheet were as follows*
but the earnings cover only the 1,820 miles of main road in the three years
EARNINGS AND EXPENSES.

1881.

1882.

Earnings—
Passenger—Cash.....................
Government........ > ..............
Freight—Cash...........................
25_______ _
Government
Company........
Mail, express, &c

1880.
$
5,171,115
294,010
13,406,910
a «o no*
469,025
1,342,572
1,831,502

4,922,711
208,860
15,075,515
484,013
1,503,599
2,064,119

, 5,054,344
143,38®
13,543,841
361,648
1,496,678
2,223,987

Total gross earnings........
Operating Expenses—
Maintenance of w ay.----------Renewal of rails................ —
Equipment and motive power
Transportation expenses----Taxes................
.......
General.... ...............
....

22,455,134
$
1,964,773
1,109,676
4,424,871
2,132,692
439,908
473,199

24,258,817
$
2,179,071
1,700,426
5,185,906
2,482,588
394,011
538,341

22,823,884

$

$

$

2,082,492
556,14»
*d Boston.—September 30,1882, owned from Troy, N. Y., to Ver­
4.733,832
mont State line, 35 miles; leased: Southern Vermont 6 miles; Troy &
2,392,49»
Bennington, 5 miles; Vermont State line to North Adams, 7 miles; total
487,78®
operated, 53 miles. The 1st consol, bonds are used to redeem 1st and
474,297
2d mortgages, and 2d consol, to redeem floating aebt. Stock, $1,623,110.
In 1881-2 surplus was $31,144. Operations and earnings for three years
10,727,04»
12,480,343
past were as follow s:
.
,, , „
Total (including taxes) ...
10,545,119
Net
Div’d
Passenger. Freight (ton) Gross
12,096,835
11,778,474
Net
earnings................
11,910,015
Earnings,
p.
ct,
Miles.
Mileage.
Mileage.
Earnings.
47-0»
Years.
. 51-45
Per ct. of op. exp. to earnings
46‘96
6,191.024 $28,252,911 $570,161 $271,423 ..
18798053
INCOME ACCOUNT.
182,206 ..
6,246,817 24,778,236
498,719
18808153
Receipts—
$
213,766 ..
7)315,713 24,979,268
523,547
1881-82 > 53
12,096.835
11,778,474
Net earnings.......................... . *
2,211,09»
1,332,678
and dividends............
1,010,153
Ti/rone d Clearfield—East Tyrone Pa., to Curwensville, Pa., 44 miles; Interest
284,249
branches, 20 miles; total, 64 miles. This company was organized Other receip ts...................
Aoril 1,1867, after sale in foreclosure. Road completed m -1872, It
14,307,934
13,111,152
Total income.................
13,204,417
$
was leased to the Pennsylvania Railroad in 1878; rental was $73,500.
$
$
Disbursements—
J. N. Du Barry, President, Philadelphia, Pa.
4,976,204
4,819,128
5,174,473
Interest on d eb t ................. -.
191,645
Ulster d Delaware—Sept. 30, 1882, owned from Rondout (Hudson Discount, int’st, premiums,&c.
117,196
114,315
4,260,788
River) N. Y., to Stamford, N. Y., 74 miles. This was the Rondout A Dividends___............... A .........
4,076,134
3,045,738
7
Oswego in 1876; reorganized May 28, 1872, as New York Kingston &
.7
6
Do per c e n t .....---------. : . . .
442,000
Syracuse, and again., after foreclosure, May 1,1875, as Ulster &>Delaware. Sinking funds,..........................
307,000
434,000
2,097,19»
The stock is $1,152,100. In 1880-81 the gross earnings were $237,166; Due U. S. on year’s business..
*L,653,359
1,779,811
net earnings $25.019 In 1881-82, gross, $269,751; net, $$36,346,
11,967,827
10,972,817
Thos. Cornell is President, F.ondout, N. Y.
10,548,337
Total disbursements........
2,340,107
Union Pacific Railway—(.See M a p .) —December 31, 1882, main Balance, surplus
2,138,335
2,656,080
line—Council ‘ Bluffs to Ogden, 1,037 miles; branches—Ogden to
GENERAL BALANCE AT CLOSE OF EACH FISCAL TEAR.
Junction Central Pacific, 5 miles; Kansas City to Denver, 638; Denver
1882.
1880.
1881.
to Cheyenne, 106; Leavenworth to Lawrence, 34; total owned, 1,820
Asspts~~
$
$
m iles; controlled—Omaha & Repub. Valley RR., 160 miles; Omaha N. &
156,949,005
Road,
equip’t,
&c........
.
154,743,629
156,878,669
Black Hills RR., 84; Colorado Central RR.,327; Echo & Park City RR.,
»13,582,70»
} 19,507,615 \
3 2 ; Utah & Northern RR., 462; Marysville & Blue Val. RR,, 38; Car- Stocks owned, cost. ........
l l o .o 7 0 ,uoo *18,537,976
bondale Branch, 31; Junction City & Fort KeaYney, 70; Solomon HR., Bonds owned, cost................... i
2,552,213
2,563,360
57- Salina & Southwestern, 35; St. Joseph & Western, 251; Central Advances.........................
117,305
Branch Union Pacific and leased roads, 388; Kansas Central, 165; Excess of iut. on U. S. bonds.
3,164,477
1,877,300
Denver & Boulder Valley., 27; Golden Boulder & Car, 6; Oregon Materials, fuel, & e ...---- . . . .
164,046
349,562
Short Line, 255; Greeley Salt Lake & Pacific, 4 1 ; Denver South Park & U. P. bonds and stock.............
185,572
199,545
Denver
Extension
sink’g
fund
Pacific 264; Man. Alma & Bur., 28; Nevada Central, 93; Manhattan .&
231,122
106,178
N W 4- Salt Lake & Western, 54; total controlled, 2,872 miles; total Coal lands and mines...............
t3,208,95»
2,195,950
2,185,950
operated and controlled Dec. 31,1882, 4,692 miles. The Central Branch Bonds and stocks field in trust
6,306,75»
6,074,212
6,384,180
Union Pacific and leased lines is operated by the Missouri Pacific under Land department assets.........
an agreement with Union Pacific.
Total.........................^........ 185,165,541 200,477,246 201,554,297
This was a consolidation, January 24, 1880, of the Union Pacific
$
$
Liabilities—
$
Railroad, the Kansas Pacific and Denver Pacific, made under authority
60,868,50»
60,868,500
50,762,300
o f the acts of Congress of July 1,1862 and July 2,1864. New stock Stock ................ - .............
81,845,507
82.118,133
Funded
debt
(see
S
cpplem
’
nt
)
82,623,114
was issued for the old stock of the three companies, but their bonds
33,539,512
33,539,512
33,o39,512
remained unchanged. (See Chronicle, V. 30, p. 118.) The company, United States subsidy bonds..
13,136,48»
12,590,388
"under acts of Congress above-named, took a land grant or 12,800 acres Accrued int. on subsidy bonds 12,133,9 / b
•per mile, estimated at a total of 12,083,227 acres, and a subsidy in U. S, Bills payable, and all other
1842,7434,035,078
dues
and
accounts...............
1,019,020
bonds of $27,236,512. The interest and principal of this loan is to
789,635
780,764
782,721
be paid according to the “ Thurman Act,” which requires 25 per cent Interest accrued not due.. . . . .
10,531,911
6,544,868
Balance
of
income
account...
3,804,083
o f the net earnings, after deducting interest on the first mortgage
bonds, to be paid annually to the Government as follows: F irstTotal liabilities.................. 185,165,541 200,477,246 201,554,297
Applied directly to interest account, one-half of Government earnings,
1 The balance sheet for 1882 is changed in form as to the items of
and 5 per cent of net earnings, after deducting interest on first mortgage “ unfunded
debt.” The total of bills payable, &c., amounts to $9,852,bonds. Second—To be placed in the sinking fund—the other half of the 395. an<t is offset
cash on hand, $1,609,660, company’s own stock
Government earnings and so much of $850,000 as may be necessary to and’bonds owned,by
$2,011,319, duel and materials on hand, $2,768.437,
make 25 per cent of net earnings.
balances
due
from
agents
and from other roads, $2,620,165, totax*
The report for 1882 gave the gross earnings as follow s:
<§9 000 582.
1,820 miles, main lines..........; . ................................................. r , i
™
*
The’
items
include
stocks
bonds of other companies owned by the
2,359 “
auxiliaries............................... ................................ 7,o40.043 Union Pacific. Of these theand
stocks and bonds of railroad companies
513 “
auxiliaries....................... ................. — not reported
amount
at
their
par
value
to
$53,211,271.
The roads making up the 513 miles of auxiliary lines of which the




BONDS
STOCKS AND
RAILROAD
O c t o b e r , 1883.]




Subscribers w ill confer a great favor by giv in g im m ediate notice o f any error discovered in these Tables.
Bonds—Princi­
INTEREST OR DIVIDENDS.
DESCRIPTION.
When Due.
Miles Date Size, or
Amount Rate per When Where Payable, and byj pal,
Stocto—Last
Par Outstanding
of
For explanation of column headings, &c., see notes of
Whom.
Payable
Dividend.
Cent.
Value.
Bonds
Road.
on first page of tables.
■Union Pacific—(Continued)—
;
Omaha bridge bds, st’g, (s.f. about $65,000 yrly).
-Collateral Trust b o n d s ........---- . ------------- -----Collateral trust nonds of 1882, gold ............... .
Kans. Pac.,cons. M..,g.(for $30,000,000) ,cp.orrg.
do
1st M., g, cp., on 140m. west Mo. Riv.
1st mort., gold, 140th to 393d mile—
do
2d M.(to U.S.Gov.) on 394m.W. Mo.R.
do
do lst.394th to 639tb m., l.g., 3,000,000 acs
1st mort., coup., (Leavenworth Br.)..
do
Income bds, coup., 3d M.on 427 miles
do
United N. J. RR. & Canal Companies—Stock.. .. .
Gold bonds — ........................................................
General mortg.,golcl and currency, coup.......... .
Unitea Co.’s mortgage, sinking fund, registered. ,
do
sterling loan mortgage, sinking fund
-do
do
do
do
do
do
dollar loan, m ortgage.....................
do
gold loan, reg........... .........- - .........
Joint Co.’s plain bonds.. . . . . . . -. - . . . . . - - - - - do
consol, mort, (sink’s fund after 1880)
N. J. RR. & T. Co., 3d loan due State of N. J . ..
Utah Central—Stock; . ................................ •...........
1st mortgage, gold— ..................- .............. r-Utah Southern, 1st mortgage, coupon . . . . . . .
do
general mortgage (for $1,950,000)
Utah South. Extern, 1st M., Juab to Frisco........
Utah <&Nevada—Stock........................................ --Utah (Ê Northern—1st mortgage.................- — --Utah <£•Pleasant Valley—1st mortgage, gold..........
Utica Black R x v e rS tock— ........................
Mortgage bonds.......... . .........- ....... - ...............
Black River & Morristown, 1st mortgage --------Clayton & Theresa, 1st mortgage, guaranteed.. .
Utica Chenango <&Susquehanna Valley—S tock ....
Utica Clinton & Binghamton—1st mortgage........

£200 $1,888,000
1871
8 g- A. & O. London, L. & S. Fr. Bk.
4.918.000
J. & J. N. Y., Union Trust Co.
6
1879 $1,000
5.000. 000
J. & D. Boston, N. Engl’d Tr.Co.
1,000
6
1882
15,640,005
1,000
6 g. M. & N. N. Y., 195 Broadway,
1879
2.240.000
do
do
F. & A.
140 1865 i 1.000
4.063.000
do
do
1,000
253 1866
e l : J. & D.
6.303.000
by transportation.
Payable
6
394 1865-7
6.323.000
6 g. M. & N. N. Y., Loud. & Frankf’ t.
l ’ ÒÒO
245 1869.
67,000
M. & N. New York, 195 B’way.
7
1,000
34 1866
882,400
M. & S. N. Y., Bk. of Commerce
7
50 &c
427 1866
100 21,090,400
Q —J. Phila. and N. Y. Offices.
2^2
429
4
1.824.000
F. & A. Philadelphia Office,
1,000
1883
6 g. M. & S.
5.669.000
1,000
do
do
1871
2.000.
000 6
A. & O. Phila., Pennsylv’a RR.
1871
1.846.000
6 g. M. & S.
London,
1871
1.800.000
do
6 g. M. & S.
1871
F. & A.
154.000
6
Philadelphia.
1871
841.000
do
6'g. M. & S.
1878
J. & D.
6
Princeton, N. J.
866.000
1854
M. & 'N. Philadelphia Office.
5.000.
000 6
1862
A. & O. N. Y.', B’k of Commerce.
6
100,000
1868
Q .-J . N. Y., 195 Broadway,
4.225.000
lhs
100
280
J.
& J.
do
do
1.000.
000
6
g.
1,000
36hf 1870
J. & J.
do
do
1,000,000
7
1,000
75 1871
J,
&
J.
do
do
7
1.456.000
1,000
105 1879
do
do
J. & J.
7
1.950.000
1,000
138 1879
555,860
37
J. & J. New York,195 Br’dway.
5.543.000
7
l ’ ÒÒO
415 1878
New York Office.
M. & N.
900.000
7
1,000
62 1879
M. & S.
Utica.
1.772.000
2
100
180
J. & J. N.Y., Nat.Bk.of Com’ce.
1.112.000
7
87 1871
do
do
J.
&
J.
500.000
7
500
&c.
1874
36
do
do
J. & J .
7
200.000
16
N.
Y.,
D.
L.
&
W.
RR.
M.
&
N
3
4,000,000
Too
98
6 & 7 J. & J N. Y., Cont. Nat. Bank.
790,000
31 ’66-’72 500 &c.

April, 1896
July 1, 1908
Dec. 1, 1907
May 1, 1919
Aug. 1. 1895
June 1, 1896
1895 to ’97
May 1, 1899
Jan 1, 1896
July 1, 1916
Oct. 10, 1883
Feb. 1. 1923
Mch. 1, 1901
Oct. 1, 1894
Mch. 1, 1894
Mch. 1, 1894
Feb. 1, 1888
Sept. 1, 1908
jan . 1, 1889
Nov. 1, 1883
Overdue.
(?)
Jan. 1, 1890July 1, 1891
July 1, 1909
July 1, 1909
July 1, 1908
1904
Sept., 1883
July, 1891
Jan. 1, 1894
July 1, 1898
Nov. 1. 1883
1886 & 1890

and $591,843 net, in 1882. Sidney Dillon, President. (V. 33, p. 687;
$910,b83 V. 34, p. 509 ; V. 35, p. 162, 229; V. 36, p. 3 5 8.)
Utah £ Nevada.—Dec. 31, 1882, owned from Salt Lake City, U. T., to
321,89U
114,l9o Terminus U. T., 37 miles. The Utah Western made default January T,
1878, and the road was held by trustees for the bondholders, and was
Total net proceeds for the year ............. ., .....................- - $1,346,770 foreclosed Nov. 3,1880, and this company organized. (V. -32, p. 356.)
Deduct interest paid on consol, bonds.............................. .
203,2 /0
Utah & Northern.—Completed from Ogden, Utah, north into Montana
Territory to Deer Lodge, near the line of Northern Pacific near Helena.
Leaves net proceeds___. . . . . . . — , ...................... ... $1,088,495
Mon., 462 miles. Stock $5,543,000. The road is built and mainly
The lands on hand Jan. 1,1883, were 9,129,000 acres U. P. lands and owned by the Union Pacific as a feeder to that line. For the year 1881,
5 336 000 acres K. P.Jands. U. P. land contracts and cash, $4,617,401. gross earnings, $1,359,583; net, $602,619; in 1882, gross, $2,210,688;
’Of thè Union Pacific collateral trust bonds, the firstissue was limited to net, $905,308. (V. 35, p. 431.)
80 ner cent of the. following bonds: Omaha & Republican Valley RR.,
Utah <&Pleasant Valley.—Line of road Provo, Utah, to Pleasant Val­
$850,000 ; Colorado Central Railroad bonds, $2,526,000; Utah Northern ley. Utah, 60 miles. Road opened in 1879. Bonds sold in New York in
Railroad, about $3,480,000; total, $6,856,000. The collateral trust 1880. Road sold in foreclosure June 12,1882, to Denver & Rio Grande
Bonds are a d'rect obligation o f the Union Pacific Company, and have as West. RR., which extended it to Salt Lake City, 50 miles. (V. 34; p. 688.)
their security the first mortgage bonds of the roads named pledged with
Utica & Black River.—Sept. 30, 1882. owned from Utica, N. Y., to
the trustees. The excess of interest collected on hypothecated bondssav $22,000 per year—forms a sinking fund to reduce the principal. Philadelphia, N. Y., 87 miles ; leased lines to Morristown, N .Y ., to
Ogdensburg,
to Sackett’s Harbor and to Clayton, #3 miles in a ll; total
The $5,000,000 collateral trust bonds of 1882 are secured by the follow­
ing bonds : Colorado Central RR. $2,356.000 ; Utah & Northern RR. operated, 180 miles. The company has paid its rentals and moderate
dividends
for
a number of years. The general account, September
$2,353,000; Omaha & Rep. Valley RR. $419,000; Utah Southern RR.
extension $975,000; Denver South Park & Pacific RR. $1,544,000; 30,1882, was as follows, condensed:
A s ftp,f a .
s
,
Liabilities.
Kansas Central RR. $1,162,000; total $8,809,000.
$1,772,000 Road and equipment... $2,983,005
The Kansas Pacific extended from Kansas City, Mo., to Denver, Col., Stock..................
Sundry
accounts..........
3,122
B
o
n
d
s
....................
1,112,000
639 mile#, with Leavenworth Branch, Lawrence to Leavenworth, 34
258,415
55,820 Les’dlines, stks,bds, &c.
miles. It was organized as “ Leavenworth Pawnee & Western” in 1861; Sundry accounts..........
C
ash..............................
118,902
423,624
then changed to “ Union Pacific, Eastern Division,” June 6,1863, and to Surplus fund..............
“ Kansas Pacific” on March 3,1869. The Pacific Railroad acts o f-1862
Total............. .......... $3,363,444
Total.
........ $3,363,444
and 1864 applied to this road, and gave it a subsidy of $6,303,000 and a
Income Account:
' land grant of about 6,000,000 acres. The lands mortgaged were put in
tw o trusts, 2,000,000 acres in the first, from the first to the 380th mile Net income, all sources....................... ........................................ $346,344
Interest.....
.....................
.
............................................
$81,340
westward, covered by the first and second land mortgages, and
3,000,000 acres in the second grant, from the 380th mile westward, are Rentals.............T................................... — ................ 73,057
covered by the Denver Division mortgage. The outstanding bonds of Dividend, 5 per c e n t ............................................... 88,600— 242,997
Kansas Pacific above are given less the amounts of each class held, by
Balance, surplus................................ .......................... , ----$103,346the trustees of the general mortgage. The second land grant mortgage, Add surplus, Sept. 3 0 ,1 8 8 1 ......
320,277
with various other bonds, was taken up with the general consolidated
Surplus, Sept. 30,1882
.......... ............. ...............
$423,624
mortgage of May 1,1879, which covers road and lands ; the trustees ot
that mortgage are Jay Gould and Russell Sage, and they held in trust on The surplus is chiefly represented by advances to leased lines. The
Jan.-1, 1883, the following bonds 01 the Kansas Pacific, making $10,- Ogdensburg extension is doing well, and promises to be a good invest­
31,686 in all, viz.: Leavenwortn Branch, $533,000 ; first land grant, ment. Operations and earnings for three years past were as follow s: _
Net
Div.
Passenger Freight (ton, Gross'
SU|
BH
$1,430,250; second land grant, 1.499,000; income (unsubordinated)
Mileage.
Mileage. Earnings. Earnings, p. et.
Miles
bonds. $187,650 income (subordinated) bonds, $3,205,300; Denver Yéars.
$315,771
4
5,836,600
9,204,785
$590,760
80.. . 180
Pacific bonds, $2,017,000. They also held $1,875,800 of the stocks 1879246,780 4
7,377,199 12,918,373
693,170
and $3,156,000 of the bonds of other companies controlled by the 1880- 81. .. 180
323,011
5
8.599,023
15,224,870
766,463
1881-82. .. 180
Union Pacific.
.
The Denver Pacific—Denver to Cheyenne, 106 miles—was built under —(V. 32, p. 2 0 5 ; V. 34, p. 1 1 3 ; V. 35, p. 762.)
the charter of the Union Pacific, E. D. (Kansas Pacific), and opened
Utica Chenango <& Susquehanna Valley.—Sept. 30,1882, owned from
January-1,1871. The Denver & Boulder Valley was opened under a 99 Utica, N. Y., to Green, N. Y., 76 -miles ; branch-to Richfield Springs, 22
year lease from 1873. The company made defaùlt, and a receiver was miles; total, 98 miles. Road opened October, 1872. Leased to Delaware
'appointed April 4,1878. The stock of $4,000,000 went into this consoli­ Lackawanna. & Western at 6 per cent on stock. Has no bonded debt.
dation Januarv 1880, and the bonds are retired with the consolidated Gross earnings, 1879-80, $544,616; net earnings, $261,873; dividend
mortgage of the Kansas Pacific. (V. 34=, p. 116, 178, 2 8 9 , 291, 292, payments, $240,000. Gross earnings, 1880-81, $721,882; net, $317,317, 3 # 6 , 435, 461, 625, 655; V. 35,p. 71, 133, 182, 205,266,267, 291, 478; dividends. $240,000.
308 313, 360, 431, 456, 487, 546, 578, 657, 708; V. 36, p. 170,196, 212.
Utica Clinton &•Binghamton.—Sept. 30,1882, owned from Utica, N.Y.,
269, 2 8 Ì , 366, 454, 561, 652 ; V. 37, p. 49, 65, 68,189,194, 236, 268, to Smith’s Valley, N. Y., 31 miles. Opened June 22,1872, and leased to
S43.)
New York & Oswego Midland Railroad. Thd lease was transferred to
United New Jersey RR. <6 Canal Companies—Lines of road, New York the Delaware & Hudson Canal Co., which pays the rental of $75,000 per
to Philadelphia and branches, 125 miles; Camden to Amboy and branches, annum. The road was operated by the Del. Lack, & West, till April 1,
225 miles ; Trenton to Manunka Chunk and branches, 89 miles : total 1883. Gross earnings in 1880-81, $123,409; n et,'$58,003 ; gross in
operated, 430 miles. Delaware & Raritan Canal, 66 miles. The United 1881-82, ,$144,469 ; net, $69,085, Capital stock, $636,285. Isaac
New Jersey Railroad &' Canal Companies were leased in May, 1871, to the Maynard, President, Utica, N. Y. (V. 36, p. 366.)
Pennsylvania Railroad for 999 years, at a rental of 10 per cent on the
Utica Ithaca & Elmira.—Sept. 30,1882, owned from Elmira, N. Y „ to
stock, besides interest on bonds. The smaller leased roads were taken Cortland, N. Y., 71 miles; leased, Elmira to Horseheads, 5 miles; total
with their several contracts. The Belvidere Delaware was leased to the operated, 76 miles. This company was organized May 11, 1878, as
Pennsylvania Railroad March 7,1876, and since January 1,1877, has successor ,of the U. I. &E. RR Co., which was foreclosed April 30,
been operated as the Belvidere Division of United New Jersey Railroad 1878. Stock is $2,000,000. Gross earnings.1880-81, $142,989; net,
system. The net earnings are paid over to the lessors in full as rental. $20,968; gross, 1881-82, $160,200; net, $5,328. Geo. Jas. Rice, Presi­
The lease has not been profitable in cash receipts to the Pennsylvania dent, Horseheads, N. Y.
Railroad, and the net loss in 1879 was $939,889, and in 1880 $1,035,Valley (N. Y.) Railroad.—Sept. 30, 1882, owned from Binghamton,
308, and $302,864 in 1881 ; but the connection with New York was in­ N. Y., to State line of Pennsylvania. 12 miles. Opened October, 1871.
dispensable. Operations and earnings for five years past (including the L eased to Delaware Lackawanna & Western. In 1880-81, gross, $330,
canal) were as follows :
Gross
Net
Div. 841; net. $187,744. Dividends paid, $60,000. Rental, in 1881-82,
Passenger Freight (ton)
Earnings.
Earnings, p. ct. $63,958. Samuel Sloan, President, New York City. (V. 32, p. 92.)
Mileage.
Years. Miles. Mileage.
Valley (Ohio).—Dec. 31,1882, owned from Cleveland, O., to Wheeling
$8,398,534
$2,895,592
139,245,413 255,027,095
1 8 7 8 ..
. 373
Juuction, O., 76 miles, and 9^2 miles of small branches; The- temporary
9,784,843
3,283,981
1 8 7 9 .. 373
. 146,914,158 332,298,977
debt
and car trust amount to $663,541. Earnings in 1881, $275,673;
3,329.473
171,055,377 381,885,409 11,544,681
1 8 8 0 .. .
net, $116,798. In 1882, gross, $367,737; net, $176,491. Stock,
197,366,974 480,995,398 13,022,864 4,211.500
1881...
$1,042,302.
(V. 34, p. 605; V. 35, p. 707.)
1882... 429 227,938,390 521,869,010 14,231,458 4,062,363
Valley (Va9—Sept. 30,1882, owned from Harrisonburg to Staunton
—(V. 36, p. 170.)
Utah Central.—Dec. 31,1882. owned from Ogden, Utah, to Frisco, 280 Va., 26 miles, in operation, and being extended to Lexington, 36 miles
miles. This was a consolidation July 1,1881, of the Utah Central, Utah further. Operated by Baltimore & Ohio. Earnings, 188J.-82, $56,77.2;
Southern and Utah Southern Extension. Stock is.$4,225,000. In 1882 net, $13,412. Of the 1st mort. for $1,000,000, there were deliv­
gross receipts $1,531,486; net, $897,949. For eight months of 1883 ered to the B. & O. $206,000, and the balance remain unissued. (V. 32,
¿jross earnings were $753,105, net $381,156; against $1,011,009 gross p. 687; V. 33, p. 178, 562 ; V. 34, p. 577; V. 35, p. 603.)

The land department reports the following for 1882 :
Net proceeds, Union Pacific land grant 1882........................ .
Net proceeds Kansas Pacific land grant 1882........ t ................
Net proceeds of other lands, lots and income, 1882................




O c t o b er , 1883.

RAILROAD7 STOCKS AND BONDS.

75

Subscribers w ill confer a great favor by g iv in g im m ediate notice o f any error discovered in these Tables
DESCRIPTION.
Bonds—Princi­
TNTERKST OR DIVIDENDS.
Miles
Size, or 1 Amount
pal,When Due.
For explanation of column headings, &c., see notes of
Par 'Outstanding Rate pei When Where Payable, and by Stocks—ILiiat
of
on first page of tables.
Road. Bonds. Value.
Cent. Payable
Whom.
Dividend.
Utica Ithaca £ Elmira—1st mortgage, gold........
1880
$ ....
$600,000
5
J. & J.
Jan.
1, 1911
Valley (N. T.)~ Stock.. . . . . . . . . . Wt....... ...................
Ï2
750,000
- - SÄ
4
N. Ÿ., D. L. & W.
1883 1st mortgage.................. .............. .........
. . . . 188.1
'400,000
5
do
do
Aug.
ï , 1911
Valley ( Ohio)—1st mortgage.............................. ...I
1879
1,600,000
- 7
J. & D.
1906
......................................
. Consol, mortgage
1881
600,000
6
M. & S.
'
New
York.
1921
Valley (Va.)—1st mortgage................................
"26 1881
i,ò"do
206,4)00
6
A. & 0. Balt, and New York.
Oct. 1, 1921
Vermont £ Massachusetts—Stock...........................
59
100
3,050,000
A. & O.
3
Boston, Office.
Oct. 8, 1883
Convertible bonds...................................................
1872
1,000
150,000
7
J. & J. Boston, Fitchburg RR. July 1, 1885
Bonds o f 1883 (guaranteed by Fitchburg RR.)..
1883.
1,000,000
5
M. & N.
do
do
May 1 ,1 9 0 3
Vermont Valley o f ’71—1st mortgage.....................
” 24 1880
1,ÒÒ0
800,000
5
A. & 0. Bost., SafeDep. &Tr.Co Oct. 1, 1919
Vicksburg £ Meridian—1st mortgage»......... .........
140 1881
___
1,000,000
6 - A. & O. New York, Plock & Co. April lj 1991
2d mortgage..................................... ....................
___
140 1881
3 to 6 M. & N.
1,000,000
do
do
May 1,’ 1921
3d mortgage, income (not cumulative)............
140 1881
1,920,000
7
do
do
June 1, 1921
Virginia Midland —Stock ...................................
354
iö o
6,000,000
Bonds, 1st series..... .................... Ü......... * . . . .! ! ! !
....
1881
6
M. & S.
599,958
Baltimore.
Mar. 1, 1906
do
2d series.........................
!!!!!!!!
___ 1881
1,898,895
6
M. & S.
do
Mar. 1, 19 ÌÌ
do
3d series.r.................
...!!!!!!” !
___ 1881
5
&
6
M.
&
S.
1,062,545
do
Mar. 1, 1916
do
4th series..... ..........
.....!!” ” ” !
. . . . 1881
921,820
3-4-5 m ;& s .
do
Mar. Y 1921
do
5th series................... ............. ! ! ! ” !"” ........
. . . . 1881
5
1,773,828
M. & S
do
Mar. lj 1926
do
6th series............................. i l l ! ! ” ! ” ” " "
! . . . 1881
4 &,5 M. & S.
1,310,000
do
Mar. l ' 1931
Income bonds, cumulative......... . . " ..........
1882
1,ÒÒ0
3,503,000
6
J. & J. N.Y. Cent Tr.or Alex’d’a Jan. 1. 1927
Virginia £ Truckee—1st M. (pay’blc $iÖÖ,ÖÖÖä year) . %4 1874
1,000
700,000 ‘ 10
Q .-F . San Fran., Bank of Cat. Aug. 1, 1889
Wabash St. Louis £ Pacific—Stock, common.......
f .. .
3,518
100 27,409,200
Preferred stock, 7 per cent, (not cumulative)
3,518
100 23,034,200
Q .-F .
N. Y., Co.’s Agency.
Nov. 15,1881
General m ortgage, gold (for $50,000,000) . . . .
All. 1880
1.000 16,000,000
do
do
6 g. J. & D
June 1, 1920
Collateral trust bonds (for $10,000,000)..........
1883
1,000
:6
M. & N.
do
do
(?)
1913
1st moit, bonds on Champaign Hav. & West!!!
Ì31 1&80
1,000
1,210.000
6
J. & D. N. Y., Met. Natl. Bank. Dec., 1910
_ .
, d°
1st pref., convertible. . . . 131 1879 100 &c.
3,40,900
7
J. & J.
do
do
J
u
ly
'l, 1909
1st mort. bonds on Chicago & Strawn...............
262 1880
1,000
4,500,000
5
J. & J. N. Y., Co.’s Agency.
July l ' 1910
1st mort., gold, on Cairfi Division . ....................
270 1881
1,000
3,857,000
J. & J.
5
g.
do
do
Oct.
1,
1931
1st mort., gold, Detroit Division........... ............
112 1881
1,000
1,853,000
do
do
6 g, J. & J.
.July Y. 1921
3 st mort., gold, Indianapolis D ivision.............
87 1881
1,000
2,000,000
6 g. J. & D.
do
do
"Jan. 1,' 1921
Indianapolis Peru & Chic.. 1st m ortgage........
74
1,000
275,000
7
J. & D. N. Y., Metrop. Nat. Bk. June 1, 192Ï
Hav. Rantoul & East. 1st m ortgage.................
75
300,000
7
J. & J.
do
do
1897
1st mort., gold, Iowa Division.................
143 1881 . ì.ò o o
2,300,000
6 g. M. & 8.
do
do
Mar. 1, 1921
Wabash, 1st mort. (Toledo & Illinois)........
75 1853
1,000
900,000
F. & A.
7
do
do
Aug. 1, 1890
Vermont £ Massachusetts.—Line of road, Fitchburg to Greenfield,
Virginia £ Truckee —Reno, Ney., to Virginia, Nev., 52 miles ; branch
$6 miles: branch, 3 miles. The road^s leased to the Fitchburg line, Silver Junction to Silver City, 2 miles; total, 54 miles. Road
RR. tor 999 years at 6 per cent. (V. 36, p. 212, 652.)
opened November, 1869. The bonds are payable $100,000. per year.
Vermont Valley o f ’71.—March 31,1883, Owned from Bellows Falls to Gross earnings in 1881 were $914,271 ; net, $394,564, against $449 Drattleboro, Vt. , 24 miles, and by purchase of stock the Sullivan County 746 in 1880; dividend payments, $240,000. The per cent paid is not
fr°ni Bellows Falls to Windsor, Yt., 26 miles; total, 50 miles. Con­ stated, and while the nominal stock is $6,000,000 the reports say that
trolled by Connecticut River RR. The Sullivan County RR. stock is the amoimt of paid-up capital is not known in conséquence of the de­
deposited as collateral security for the above mort. bonds. Net revenue struction of the books by fire several years ago. D. O. Mills, President
-of both roads year ending March 31, 1883, was $159,882. Dividends
Wabash St. Louis £ Pacific.—(See M a p P a g e 5 1 .)—A consolidation
are paid on the stock of $1,000,000, and in June, 1883, 3 per cent of the Wabash Railway with the St. L. Kans. C. & North., Nov. 1, 1879.
6Gl{ir6u.» ■
if
Miles of road operated, Dec. 31,1882: East of the Miss. River—Toledo
to E. St. Louis, 436 miles ; Decatur to Camp Point, 129 ; Camp Point to
Vicksburg £ Meridian.—Line of road—Vicksburg to Meridian. Miss. Quincy, 22 ; Bluffs to Hannibal, 48 ; Maysvihe to Pittsfield, 6 ; Clayton
Tne company was unable to earn full interest, and reorganization was to Elvaston, 35 ; EdwardsviUe to Edwardsviile Crossing, 10 ; Detroit to
made m 1881 with bonds as follows: $1,100,000 of first mortgage 6 Logansport, 214; Michigan City to Indianapolis, 161; Attica to Cov­
per cent, forty years, gold bonds; $1,100,000 of second mortgage bonds, ington,
15 ; West Lebanon to Leroy. 76 ; P. & D. Junction to St. Francis» interest at 3 per cent for two years, 4 per cent for two years, 5 per ville, 109; Vincennes to Cairo, 158 ; Bates to Grafton, 71; Champaign
year and 6 per cent for thirty-five years; $1,920,000 of to Sidney, 12; Hollis to Jacksonville, 75 : Springfield to Havana, 47 ;
third mortgage income bonds, with interest at 7 per cent, if earned; and Streator to Altamont, 157; Shumway to Effingham. 8; Strawn to Chicago,
preferred stock, $1,937,189; common stock, $3,957,100. Is mainly 100 ; Urbana to Havana, 102 ; White Heath to Decatur, 30 ; State Line
owned and controlled by the Alabama New Orleans Texas & Pacific to Keokuk, 222; Hamilton to Warsaw, 5: La Harpe to Burlington; 20;
Co-» £,r? ssA arnin? 8 for year ending March 31, 1883, were total east of the Mississippi, 2,267 miles. West of the tyiississippi—St.
$495,8 o l ; net, $141,324. (V. 34, p. 205; Y. 35, p. 2 0 ; V. 37, p. 69.
Louis to Kansas City, 277 miles ; St. Louis Levee to Ferguson Junction,
10 ; Centralia to Columbia, 22 ; Glasgow to Salisbury, 16 ; Moberly to
Virginia, Midland.—December, 1882, owned from Alexandria to Ottumwa, 131 ; Brunswick to Council Bluffs, 224 ; Roseberry to Clafinda,
Gordonsville, 88 miles; Warrenton Branch, 9 miles; Charlottesville to 21; N. Lexington to St. Joseph, 77; West Quincy to Trenton, 136; Keo­
LynchWurg, 60 miles; Lynchburg to Danville, 66 miles; Pittsville kuk to Humeston, 131; Relay to Albia, 24; Des Moines to Fonda, 115;
Branch, 9 miles; Manassas Junction to Harrisonburg, 114 miles (of Albia to Des Moines, 67; total west of the Mississippi, 1,252 miles.
which 49 miles leased to Balt. & Ohio); Front Royal Branch, 1 m ile;' Grand total east and west, 3,518 miles.
total owned, 347 miles. Leased, Orange C. H. tq Charlottesville, 28
In April, 1883, the Wabash St. Louis & Pacific was leased for 99 years
miles; Pittsville to Rocky Mt., 30 miles; total leased, 58 miles. Total to the St. Louis & Iron Mountain (and thus to the Missouri Pacific), on •
owned and leased, 405 miles, of which 51 miles, Strasburg Junction the general basis of paying over to the Wabash its net earnings each
to Harrisonburg, is leased to the Baltimore & Ohio, leaving 354 miles year. The St. Louis & I. Mt. also guarantees the collateral trust bonds.
operated. The Washington City Virginia 'Midland & Great Southern
Tne annual report for 1882 was published in the Ch ronicle , V. 36, p .
was a consolidation (Nov., 1872) of the Orange Alexandria & Man­ 338, and the following is an extract : “ The net result of the year was
assas and Lynchurg & Danville railroads. The Orange Alexandria a deficit of $583,022 below the amoimt required for interest, rentals
-& Manassas was a consolidation (June 1,1867) of the Orange & Alex- and charges of every kind, which, with the deficit of 1881, makes a
andria and the Manassas Gap. The Washington City Virginia Mid- total deficit in profit and loss account of $2,035,880. The main report
Great Southern was put into the hands of a receiver July 1, is by-Mr. A. L. Hopkins, Vice-President, and he gives a plain, intelligent
1876, mterest being in default, and was sold m foreclosure May 13,1880, and candid statement of the affairs of the company. He says: * The
^Y>r litigation sold again Dec. 20, 1880. Reorganized as Vir- net earnings show an increaseof $1,512,092 over thoserof the year 1881»
gima Midland, and bonds and stock issued as above.
with an increase of 622 miles in the average length of road operated.
ih e Baltimore & Ohio had large claims against the company for Notwithstanding this gain in the profits of our lines, the interest charges
C0i^i)i)i is’
a™ r reorganization that company and the Garretts and rentals have increased in a larger ratio, and the consequence o f this
sold their large interest, amounting to $3,000,000 in stock, to the Rich- disproportion is a less satisfactory statement than we had anticipated.
1883 * ^ aim lle Syndicate, the last payment being made in January, At the date of our last annual report, Dec, 31,1881, the total length of
road operated was 3,348 miles, while at the close of 1882 it was 3,518
Of the above bonds, the first series is a first lien between Alexandria miles, an increase of 170 miles during the year. In point of fact this
“ “ Gordonsville, including lease of Charlottesville & Rapidan Railroad additional mileage, consisting mainly of the St. Louis Jersey ville &
and the Warrenton Branch; the second series is a second lien between Springfield, the Des Moines & St, Louis, and the extension north of Des
Alexandria and Gordonsville, including Warrenton Branch and lease of Moines, Iowa, was not operated until late in the year, and the lines
Chailottesville & Rapidan RR., and a first lien between Charlottesville referred to can hardly be said, even now, to be fairly under way. The
and Lynchburg; the third series is a third lien between Alexandria and operations of the road have therefore been, practically, upon the 3,348
Gordonsville, including Warrenton Branch and lease of Charlottesville miles stated at-the close of 1881.’ *
*
*
& Rapidan RR., and a second lien between Charlottesville and Lynch“ During the year the sum of $3,044,012 has been expended for new
burg; the fourth series is a fourth hen between Alexandria and Gordons- construction. Embraced in this charge is the sum of $377,827 for the
viUe, mcludmg Warrenton Branch and lease of Charlottesville & Rapidan St. Charles bridge over the Missouri River; $461,500 towards the com­
RR., and a third hen between Charlottesville and Lynchburg; the fifth pletion of tne Humeston & Snenandoah Road, and $966,209 for car
sermsis a first hen between Manassas Junction and Hairissonburg, in­ trust and other rolling stock obligations. These expenditures were rencluding Front Royal Branch and lease of road from Strasburg to Harrissonburg to the B. ,& O. RR., and a fifth hen between Alexandria and
Gordonsville, including ^Warrenton Branch and lease of Charlottesville small. The floating debt of the company is almost entirely me resun or
& Rapidan RR., and a fourth hen between Charlottesville and Lynch- these construction payments, but the company owns securities, consist­
burg; the sixth series is a first hen between Lynchburg and Danville, ing mainly of bonds and stock, valued at $8,667,696, available for the.
mcluaiiig Pittsyille Branch and leas© of Franklin <& Pittsylvania RR., liquidation of the floating debt and future requirements.”
on lease of Charlottesville & Rapidan Railroad.
The comparative statistics for three years are as follows:
_in e $4,000,000 income bonds were issued to retire 1st and 2d preferred
ROAD AND EQUIPMENT.
stock, every 10 snares of preferred to be entitled to exchange for 10
1880.
1881. .
1882.
, common and a $1,000 income bond. The company issued
Total miles operated..:.......
2,479
3,348
3.518
additional common stock, making the total $6,000,000.
OPERATIONS AND FISCAL RESULTS.
annual report for 1882, in Vol. 36, p. 138, showed the following
Balance sheet Sept. 30,1882:
*
Operations—
1880.
1881. ÎÊ
1882» i
Passengers carried.......... .
1,992,763
3,215,200
4,251.393
JDr
Or.
97,774,576 137,114,727 166,198,560
Capita! stock.. . . . . . . . . $6,000,000 Road and property . . . $17,086,048 Passenger mileage...............
Rate per passenger per mile,
2-398 cts.
2-238 cts.
2-373 cts.
Mort. ahdinc.bonds.. 11,070,047 Bills receivable..........
197 Tieigut, (tons)
5,393,917
4,533,187
o5,911,012
,s ii,m z
lions; moved..........
moveu...........
Bills payable...... ........
217,152 Supplies on h an d.......
86,376 Freight
Freight
(tons)
m
ileage........
1,105,783,399
1,149,774,547
1,247,611,320
Accounts payable.......
41,009 Connecting lines, &c..
243,066 Av’ge
A‘\7’,o*a rate
TQ.f.o nan
a
n*Q
fi*> ota
rt*Q9Â
A
*QP»1 nia
0-928 cts.
per -frvn
ton per mil
mile
0-862
cts.
0-951
cts.
Pay-rolls (Septemb’r).
43,626 Cash in banks........ .
35,078
Earnings—.
$
Interest unclaimed ...
$
$ 22,157 Cash with agents, &c.
56,112 Passenger...........
2,344,452
3,067,989
3,944,520
Connecting line, &c..
150,138 Profit and lo s s ........
37,251 Freight................
9,532,334
10,667,906
11,885,226
551,326
731,894
1,021,943
$17,544,131
;.
$17,544,131 Mail, express, &c
Earnings for the, years ending September 30 w ere:
12,428,112
Total gross earnings__
14,467,789
16,851,689
Total operating exp’ses
7,787,349
10,792,943
loo-,
.
Miles,
Gross earnings. Operat’g exp’ses. Net eam’gs.
11,664,752
1S§1~— — v
$1,361,679
$765,714
$595,982
Net-earnings..................
4,640,763
3,674^46
5,186,937
- ( V . 34,"p."265, 292; V. 35,& 4 4 # 7 6 4 ; V. S O .^ I S S , 140, Ssl.™ ’ 629 Per et. of expens to earn. ..,
62-65
69*22




RAILROAD

76

STOCKS AKD

BOKDS,

[Voi/. X X X V II.

Subscribers w ill confer a great favor by giv in g im m ediate notice o f any error discovered In these Tables.
INTEREST OR DIVIDENDS.
DESCRIPTION.
Miles Date Size, or - Amount'
Par Outstanding Rate per When Where Payable, and by
of
For explanation of column headings, &c., see notes of
Whom.
Cent. Payable
Road. Bonds Value..
on first page of tables.
Wabash St. Louis dk Pacific—( Continued.) —
Wahash, 1st mort. (Lake Erie, Wab. & St. L.)......
,do
1st mort. (Great Western of 1859)........
do
1st mort. (Quincy Toledo)....................
do
1st mort. (Ill & So. Iowa) extended......
do
2d mortgage (Toledo & Wabash).............
do
2d mortgage (Wabash & Western). . . . . . .
do
2d mortgage (Great West, of 1 8 5 9 ).......
do
Consol. M., (on all but Dec. & E St.L.)..
do
1st mort., (Decatur & E. St.- Louis)
' do
Funded debt bds (sec.by dep’sit of coups.)
do
Mort., gold, sink. fd. $25,000 after ’82.
Hannibal & Naples, 1st mortgage.........................
St. L. K. C. &No., 1st mort. (North Missouri).......
do
real estate & railway 2d mort...

1853
1863
1865
1862
1853
1858
1865
1867
1869
1877
1879
50 1879
354 1865
354 1874
1878
146 1879
22 1879
do 1st mort.. gold, Clarmda Branch
237 1880
Toledo Peoria & West., 1st m ortgage............
1880
do
1st pref. income, conv., int. g
1880
do
2d pref. income b on d s..........
Quincy Mo. & Pacific, 1st mort., gold (int. guar.). 136 1879
1864
*
83
Peoria Pekin & Jacksonville, 1st mortgage..........
24
Centrev. Moravia & Alb. RR., 1st mortgage.
73 1867
Chicago Cincinnati & Louisville, 1st mortga
49
Ware River—Stock (guaranteed)....................... .
18 1855
Warren (N.J.)—Stock.................... .....................
18 1870
2d mortgage, now 1st............................-........
18 1875
1st consol, mortgage................ . ........... .........
Wasatch dkJordan Valley—Gold bonds........
12 1873
Washington City dkPi. Lookout—1st M. bonds
1880
1st mort., gold (for $2,000,000).....................
186
West Jersey—Stock.". — . . . . — — ........ .. - —
1866
38
1st mortgage loan........ .... ..............................
63 1869
1st
do
consolidated.............................
. 128 1879
Consolidated mortgage. .......—... — . . . . .
167
jl80
33
29
75
167
180
490
109

$1,000 $2.500,000
7
1,000
2,496,000
7
1,000
500,000
7
500 &o.
300,000
6
250 &c.
1,000,000
7
100 &c.
1,500,000
7
1,000
2,500,000
7
1,000
2,610.000
7
1,000
2,700,000
7
2,938,453
50Ó &c.
6 Ä7
1,000
1,600,000
7 g.
1,000
500,000
7
6,000,000
1,000
7
1,000
3,000,000
7
1,388,500 6 & 7 g.
1,000
2,350,000
1,000
7 g.
264,000
6 g.
1,000
4,500,000
7
1,000
1,190,000
4
1,000
7
385,000 *
1,204,000
1,000
6 g1,000,000
7
500 &e.
400,000
6
1,000,000
7
500 &o.
750,000
100
3*2
1,800,000
100
3^2
750,000
7
600,000
7
884,000
7
540,000
6
6
1,000,000
1,375,800
3
50
1,000,000
6
500&C.
500 &c.
1,000,000
7
456,500
6
500 &c

INCOME ACCOUNT.

1880.
Receipts—
Net earnings...
Other receipts.
Total income...........
■ Disbursements—
Rentals p a id ................
Interest on deb t.......... .
Taxes, rent of cars, &c.
Dividends___.................

1881.

4,640,763
33,601

3,674,846
277,245

4,674,364

3,952,091

483,255
2,657,360
514,569

1,009,079
3,447,627
637,504
1,329,918

3,655,184
6,424,128
Total disbursements
Balance, surplus or deficit., sur.1,019,180 def.2,472,037

1882. •
$
5,186,937
328,760
5,515,697
$
987,608
4,302,006
809,105
6,098,719
def.583,022

GENERAL BALANCE SHEET (CONDENSED) AT CLOSE OP EACH FISCAL YEAR.

RR., b’idings, equipm’t, &c.
Securities & prop’ty on hand
Materials, fuel, &c................
Construction, &c., for yea r..
Income account. . . . . . . * .....

1880.
'
$
83,923,952
286,119
873,875
3,116,529
.........

1881.
$
107,658,815
435,862
1,212,245
11,578,866
1,452,858

1882.
$
113,285,929
8,667,697
700,404
3,044,013
2,035,881

Total........./ ......................

88,200,475

122,338,646

127,733.924

Stockfcom m on.....................
21,614?500
Stock, preferred..............
20,453,000
Funded debt (see Sup’ment)
42,094,858
Bills payable..............
336,703
Eoanipayable.......... ...............................
Sundry balances“ ..............
2,682,234
Income accou nt................ . ~ 1,019,180

26.92L500
23,033,200
66,291,858
355.466
1,500,000
4,236,622
............. . . .

.27,149500
23,031,200
70,937,854
239.057
3,037.000
3,345,313

122,338,646

127,733,924

Total liabilities.;............

88,200,475

F. & A. N. Y., Met. Nat. Bank.
F. & A. N.Y.,Na.t B kof Com’rce
M. & N. N. Y., Met. Nat. Bank.
F. & A. N. Y., N. Bk. of com ’rce.
M. & N. N. Y., Met. Nat. Bank.
do
do
M. & N.
do
do
M. & N.
Q.—F. N.Y.,Nat. Bk. of Com’ce.
do
do
F. & A.
do
do
F. & A.
do
do
4. & O.
do
do
J. & D.
do
do
J. & J.
M .& 6.
da
do
A. & O.
do
do
A. & O.
do
do
F. & A.
do
do
Q .-J . N.Y., Metropolit’nN.Bk
J. & J.
do
do

Aug. 1, 1890
Aug., 1888
Nov. 1. 1890
Aug. 1, 1912
May 1. 1893
May 1, 1895
May 1, 1893
Feb., 1907
Aug., 1889
Feb. 1, 1907
April 1, 1900
June 1, 1909
July 1, 1895
Sept. 1, 1895
1903-1908
April 1, 1919
Aug. 1, 1919
Oct. 1, 1917

J. & J. N.Y.,Metropoiit’n N. Bk
J. & J. N. Y., Imp. & Trad. B’k
J. & J. N.Y., Metropolit’n N.Bk
J. & J. N.Y., Farmers’ L.&T.Co
J. & J. Boston, Bost.& Alb. RR.
A. & O. N.Y., Del., L. & W. RR.
do
do
A. & 0.
do —
do
M. & S.
M. & N. N. Y., Kountze Bros.
J. & D. Baltimore, Balt.& O.RR.

Oct. 1, 1909
July 1, 1894

M.
J.
A.
M.

&
&
&
&

J a n " 1^87
July 1, 1883
Oct., 1883
April 1, 1900
M archi, 1905

1903
Nov. 1, 1900
S. Pliila., Pa.RR.Co. Office Sept. 15,1883
Jan., 1896
do
do
J.
Oct., 1899
O.
do
do
Nov.. 1909
do
do
N

Wasatch dk Jordan Va$ley.—Brigham City, U. T., to Alta City, U. T.,
44 miles. In 1878 the Brigham Canon & Camp Floyd was merged
in this, and it is stated th^; there are mortgages prior to the above.
For three years, 1876-7-8, the average net earnings were $131,186
per annum. Stock is $1,100,000. Lately bought by Denver & R io
Grande Western. C. M. Scofield, President, N. Y. City. (V, 35,-p. 104.>
Washington City dk Point Lookout.—Hyattsville, Md., to Shepherd,
Md., 13 miles, and to be .extended. This road was opened in 1873. It is
leased to the Baltimore & Ohio for $36,000 gold per annum. The
stock paid in is $1,000,000. Same officers as Baltimore & Ohio Railroad
West Jersey.—Dec. 3 1> 1832, main line and branches—Camden to Cape
May, Bridgeton, Riddleton and Sea Isle, 117 miles; leased lines, 35
miles; West Jersey & Atlantio RR., 34 miles; total, 186 miles operated.
Gross earnings for eight months of 1883, $371,988, net, $371,534;
against $778,902 gross and $365,097 netin 1882. The annual report for
1882 was published in the C h r o n i c l e , V. 36, p. 534. Income account
for two years is as follow s:
1882.
1881.
$1,109,410
$988,525
Receipts—
454,667
427,572
Net earnings..
3,074
Other receipts.

* Includes'audited vouchers, interest accrued, interest not due, unP Thetrustees’of the general mort, for $50,000,000 are the Central Trust
Co. o f N.Y. and James Cheney of Indiana. It provides for taking up all
the old bonds as they mature, or by exchange at any tune the holders offer
t*i at« , and reserves $33,000,10O for that purpose ; and the bonds so taken
up are not canceled but remain in the hands of the trustees as the prop­
erty o f the trust. The mortgage may be foreclosed after six months
^Afa/iit o f interest* if a majority in value of all the bondholders so
request the trustees. First mortgage on St. Charles Bridge is for
$1,000,000, and is 6 per cent now, running absolutely till 1908.
The amount of funded debt bonds of 1877, due 1907 as above given,
includes the scrip certificates for coupons funded and depositedin trust,
which certificates amounted January 1,1883, to $1,014,453, and are
exchangeable into the bonds. If not exchanged the certificates fall due
with the principal of the bonds from which coupons were cut.
The old Toledo & Wabash equipment bonds of 1862 ($600,000) were
decided in March, 1883. to be a lien against this company, with interest
since 1874, making about $1,0/ 0,0.¡0 ; but this is yet in liiigation. The
collateral trust bonds of 1833 ($10,000,000) were issued for floating
debt, «fee., and $4,000,000 reserved to take up car trust certificates as
they mature.
<
Preferred stoekhas a prior right to 7 per cent (non-cumulative); then
common to 7 ; then bpth share in any surplus.
The Toledo Peoria <te War. company made default Dec., 1873, and was
operated by a Receiver until sold m foreclosure on Jan. 20,1880. It
was purchased by a committee of bondholders for $6,000,000, and re­
organized as Toledo Peoria & Western. This company made a lease for
the term of its charter to the Wabash St. Louis. & Pacific on terms as
follows, viz. : That the Wabash Pacific guarantee 7 per cent on the
$4,500,000 first mortgage bonds of the Toledo Peoria & Western.
The $2,900,000 income bonds to be. guaranteed at 4 per cent
and to be convertible at par for Wabash St. Louis & Pacific common
stock. The $1,000,000 second preferred income bonds were also convert­
ible into Wabash preferred stock, share for share. The stock of the
Toledo Peoria & Warsaw was sealed 25 per cent common, 30 per cent
' second preferred and 50 per cent first preferred, each shareholder
receiving this amount in new stock of the Toledo Peoria & Western
stock. The Toledo Peoria & Western stock ($3,000,090) was changable
into Wabash common stock, three shares foe.one. (V. 35, p. 52. 95. 266.
706 763. 764; V. 36, p. 254, 304, 327, 3 3 8 ,4 0 0 , 4 z7 ,445, 561, 724;
Y. 37, p. 392.)
Ware River.—Palmer, Mass., to Winchendon, Mass., 49 miles. It is
leased for 999 years to the Boston & Albany Railroad at a rental of 7
~per cent per annum. J. A. Rumi ill. President, Springfield, Mass.
Wai'ren, If. J.—Line or road, New Hampton Junction to Delaware
Bridge, N. J., 18A4 miles. The road is leased to Delaware Laekawanna
& Western at 7 per cent on stock and bonds. Gross earnings. 1881,
$593.234; net, $345,274; 1882, gross, $431,985; net, $255,l o i . (V.
82, p, 611,)




Stocks Last
Dividend.

$430,646

$454,667

$33.034
175,726
53,034
Net earn’gs of W. J. & Atl. and P. & O. C. RRs.
54,390
Dividends................................ ..........................
4 p,e.
Rate of dividend................... .............................

$33,034
177,118
57,775
82,807
6 p. o.

Disb ursements—

$350,734
$316,184
103,933
114,462
—(V. 35, p. 52, 71, 339 ; Y. 36, p, 170, 313, 534.)
West Jersey dk Atlantic—Newfleld, N. J., to Atlantic City, N. J., 34
miles. Opened June 17,188.0, and operated by West Jersey Railroad
on a joint traffic agreement and 25 per cent of gross receipts on West
Jersey from traffic of this road to be applied to any deficit in interest
and then as sinking fund for bonds purchasable at 105, or drawn i f
over that. In 1882 net earnings were $57,408. Stock is $552,200.
Western Alabama.—Line of road—Selma to Opelika, Ala., 116 miles;
branches, Opelika to West Point, 22 miles; total, 138 miles, of which 50
miles is leased to Louisville & Nashville for $52,000 per annum. Was a.
consolidation in 1870 of Montgomery & West Point and Western of Ala­
bama. Sold May 10,1875, in foreclosure and purchased jointly by the
Georgia Railroad and Central Railroad of Georgia. The old stock and
income bonds were wiped out in the foreclosure, and the property is
represented by the bonded debt and $846,000 due each of the above com*
panies. There are also $32,000 second mortgage 8s of Montgomery &.
West Point RR. due May 1, 1888. The gross and net earnings have»
been as follows:
Net
Expenses and
Gross
Earnings
Taxes.
Earnings
Miles.
$100,524
$367,072
$467,597
1876-77..........
176,€52
367,454
544,107
1877-7*......... .......... 167
183,994
579,492
395,498
1878-79......... .......... 167
276.949
402,797 679,746
1879-80......... .......... 150
316.154
376,757
692,911
1880-81.......... .......... 117
152,237
290,302
442,539
1881-82......... . . . . . . . . 88
—(V. 36, p. 332.)
Western dk Atlantic.—Atlanta, Ga., to Chattanooga, Tenn., 138 miles.
Built by State of Georgia and opened in 1850, and by an act of October
24,1870, was leased to a company for twenty years at a monthly rental
of $25.000. In 1881 gross earnings were estimated at $1,500,000, and
net. $600,000; rental, $300,000; surplus, $300,000 (V. 32, 184; V. 34,
D. 317; V. 35, p. 133, 291.)
Western Maryland.—Line of road—Baltimore to Williamsport, Md., 90
miles; Emmitsburg Branch, 7 miles; Edgemont to 'Shippenshurg. Pa., 34 miles; total, 131 miles. The capital stock is $6S2,050.
The company was largely assisted by the city of Baltimore, and
was unable to pay all| its interest. A compromise was made with
the preferred second mortgage bondholders for funding coupons.
The Baltimore <fe Hanover RR. was completed to its connection with
this road iu 1880. The Western Maryland operations for five years
have been as follows, but in 1878-79 the construction account was
closed and all expenses charged to operating expenses, on which basis
net earnings have since beeu relatively decreasedNet
Passenger
Freight
Gross
Mileage.
Mileage. Earnings. Earnings*
Jiiles.
7,411,061
5,180,982 $347,202 $129,927
1877-78............ 93
73,095
8,502,388
5,469,519
347,442
1 8 7 3-7 9 ........... 93
88.278
10,705,925
■M
6,645,328
397.564
1879-80.........
93
85,952
7.278.431
461,871
12.277.592
1 8 3 0 -«!.......... . . I l l
175,657
9,172,272
540,148
13.401,848
1-/ÖI-82............ -124
—(V. 34, p. 85 J Y. 35, p. 457.

O c t o b e r , 1883. J

EAILROAD

STOCKS AK D

BOKDS

77

Subscribers w ill confer a great favor by giv in g im m ediate n otice o f an y 5error discovered in these fa b le s .
' DESCRIPTION.
INTEREST OR DIVIDENDS.
jBondj—PrinciMiles Date Size, or
~ ~ ~ ------ --------------------- ----------- pal.wiien Due;
Amount t>
For explanation of column headings, &6., see notes
of
of
Par Outstanding
Rate per When Where Payable, and by Stocks—Last
- oh first page of tables.
Road Bonds Value.
Cent. Payable
Whom.
- Dividend. West Jersey <£■Atlantic—1st mortgage.......... ....... ..
34 1880 $1,000
$500,000
6
M. & S Phila., Fidelity I. T. Co. Sept. 1, 1910
Western (Ala.)—Western RR. bonds, before consol..
44 1868
600,000
8
A. & O N. Y., Nat. City.Bank. Oct. 1. 1888
2d mart., guar, by Cent, of Ga. and Ga. RR. & B. Co. 160 1870
1,000
T,lo8,000
8
4. & O
do
do
Oct. 1, 1890
Western <£•Atlantic (Ga)—Income bonds.................... 138 1873
1,000
598.000
10
Q -J .
Atlanta, Co.’s Office* Oct. ’79 to ’91
Western Maryland—1st mort., endorsed Balt. City..
90 1858 100 &G.
200.000
6
J. & J Balt., N. Mechanics’ B’k Jan. 1, 1890
1st mortgage, unendorsed........ ..............................
90 1858 500 &c.
400.000
6
J
do
do
Jan. 1, 1890
2d
do
endorsed by Baltimore...........
90 1867 500 &c.
300.000
6
J
do
do
Jan., 1895
2d
do
endorsed by Washington County
90 1867 500 &c.'
300.000
6
J. & J
Hagerstown,
Md.
Jan., 1895
2d preferred mortgage, unendorsed.......... ............
90 1868 500 &c.
600.000
6
J. <S* J Balt., N. Mechanics’ B ’k Jan., 1895
3d mortgage, endorsed by Baltimore. . . . ' _______
90 1870
6
J. & J.
875.000
do
do
Jan., 1900
4tb
do
endorsed by Baltimore....................
90 1872 500 &c.
1,000,000
6
J. & J.
do
do
Jan., 1902
Funded coupons.................................. .....................
1880
544,626
6
do
do
a»: 1890
Western Nortn Carolina—1st mortgage.................. . 130
850.000
7
May
1, .1890
Consol mortgage......................... ................ ..........
189 1881
1,000
3.100.000
6
J. & J.
Jan. 1, 1911
Western Pennsylvania—1st mortgage........................
57 1863 500 &c.
*•800,000
6
A. & O. Philadelphia, Penn. RR, April 1, 1893
1st mortgage, Pittsburg Branch.7........................
28 1865 100 &c.
1,000,000
6 • J. & J.
do
do
Jan. 1, 1896
General mortgage..................... :. ......................
1.200.000
A. & O.
7
do
do
Oct. 1, 1901
White Walei— Stock ($325,000 of it pref.)..........
65
1.300.000
Wheeling <£■Lake Erie.—1st M., gold ($15,000 p. m.)
1879
i,ooo
2.550.000
M."&" N. N. Y., C. K. Garrison. Nov. 1, 1909
2d mortgage............................................
1882
2.280.000
J s- M. & S
1912
Wilminaton Columbia <£- Auqusta—S tock ___ .
227
960.000
3
J. & J.
Baltimore.
July 10* 1883
1st mortgage......... .............. -.............................
1880
1,600.000
J. & D. N. T. and Baltimore.
6
June,
Ì910
Wilmington & Northern—Stock........................
79
1,278,050
Wilmington <& Weldon—Stock................................ ..
180
100
2,082,400
J. & *D.
July 16, 1883
Sterling bonds................................................
221,400
M. & N.
London.
1886
Sinking fund bonds, g old ........................................
I s - J. & J.
936.000
N.Y.,Bost.,Lond.,Frank
1896
Wisconsin Central—Consol, most., land grant, pref. ' 326 1879
400.000
l
SM. & N.
Boston,
5
p.
ct. yearly
1st series....................................... ...........................
326 1879.
3.800.000 2 to 5 J. <fc J.
do
^1909
2d series, income ..................................................... 326 1879
5.700.000 2 to 7 J. & J.
do
1909
Worcester & Nashua—Stock........... ...........................
94
* 100
1.789.800
1 ^ J. & J
Worcester, Office,
July 2, 1883
Bonds, mortgage ........................ .............................
100 &c. - 275,000
Various
do
.
d
o
May 1, 1887
Bonds', mortgage...................................., .......... .
1873 500 &c.
250.000
5
A. & Ô. B.ost., Globe Nat. Bank, April 1, 1893
Bonds, mortgage.................. i ..................................
1875 1000&C.
400.000
5
F. & A.
do
do
Feb. 1, 1895
Nashua & Rochester—Stock.....................................
48
1.305.800
1% A. & O.
Worcester, Office. Oct. 1, 1883
do
do
1st m., guar, (for $700,000)
48 1874 500 &c.
700.000
5
A. & O. Bost., Globe Nat. Bank. April 1, 1894
i
Western North Carolina—March 31,1882, owned from Salisbury, N. C.,
to Paint Rock, Tenn. State line, 190 miles ; Asheville to Pigeon River, 20
miles ; total, 210 miles. The road was financially embarrassed, and was
purchased April 17, 1875, by commissioners for the State of North
Carolina, and subsequently finished by thè Richmond & Danville Ter­
minal Railway Company. It is proposed to complete the road to Cleve­
land, Tennessee^ In 1881-82 gross earnings, $218,934 ; net, $28,505.
For seven months in 1883 gross earnings were $268,115, net, $96,540 ;
•against $173,613 gross and $35,800 net iu 1882. Stock, $4,000,000.
<V. 34, p. 179, 366 ; V. 35, p. 103, 298, 374.)

Gross
Net
Cross
Net
Years.
Earnings. Earnings. Years.
Earnings. Earnings.
18777 8 .$488,448 $176,277 1880-8 1 ......... $750,916 $303,833
18787 9 . 505,978
175,693 1881-8 2 ........ 783,790
209,472
18798 0 . 603,175
221.698
—(V. 33, p. 6 8 5 ; V. 35, p. 6 5 7 .)
Wisconsin Central —Dee. 31,1882, owned main line and branches
Stevens Point to Menasha, 65 miles; do. to Ashland, 186 m iles; do. to
Portage City, 70 miles: branches, 7 miles; total owned, 327 miles. Leased
from Neenah to Schleisingerville, 65 miles; operated under contract.
Western Pennsylvania.—The road runs from Blairsville to Alleghany Milwaukee to_ Schleisingerville, 32 miles. Total operated, including
■City. Paf, 6 3 ^ miles; branch to Butler, Pa., 21 miles; total, 84^ miles- feeders, 440 miles. The lease of Mil. & North, was surrendered Aug.,1882!
com pleted in 1865 and branch in 1870. A new lease to the Pennsyl­ in Jan., 1879, the Wis. Cent, Road was taken possession of bv the trustees
who 8tm operate it. There is a land-grant of over
vania Railroad for 30 years was made in 1883. The Pennsylvania Rail­
road, lessee, owns $993,050 stock out of the total amount of $1,022,450, 800,000 acres.
The
plan
of
reorganization
has been practically accomplished. This
$288,000 of branch bonds, and all of $1,200,000 general mortgage
bonds- In 1881 net earnings were $166,954 ; in 1882, $216,965. ( v. 35. embraced the issue of a new consol, mort. to cover $400,000 5 p c pref
bonds;
$3,800,000
first
series
bonds, bearing 2 p. c. for three years from
p, 393 ; V. 36, p. 611.)
'
July 1,1880, and 5 per cent afterward ; and $5,700,000 second series
White Water.—Valley Junction, O., to Cambridge City, Ind., 65 miles. bonds, to draw interest if earned (but not cumulative), 2 per cent for
This was formerly the White Water Valley, sold in foreclosure May 2, three years, and 7 per cent thereafter. Interest on the second series is
1878, and reorganized under this title. Gross earnings in 1882-83, payable J. and J., but dependent each time on the net earnings of the
$104,234; deficit, $5,979. Elijah Smith, President, Boston, Mass.
nZ?
SM! mo^ lhs W ° re- Tlle stock of $11,500,000 remains»
$2;000,000 of it preferred and $9,500,000 common, and is all deposited
Wheeling & Lake Erie.—Road under construction—Wheeling. W. Va:, in trust with Stewart and Abbot, Trustees, to be voted on until all interest :
to Toledo, O., 205 miles, and branch, Norwalk tov Sandusky, O., 21 is being earned and paid on new bonds, and in the judgment of thetrusmiles. In May, 1883, 168 miles in operation. Bonds offered in New tees j s likely to continue so to be. Trustees’ certificates for new stock
York, July, 1880 by N. Y. New England & Western Investment Co. (without voting power) have been issued to the old stockholders, which
Stock, $4.590,000. (V. 34, p. 52; V. 35, p. 23, 71,103, 162; V. 36, p. pass as a delivery on sales. In March, 1882, the Trustees and company
560.)
*
leased for 99 years the Milwaukee & Winnebago Railroad, from Neenah
Wilmington Columbia <£ Augusta.—Sept. 30,1882, owned from Wil­ to Schleisingerville, which was completed in December, 1882; the rental
is
37 *2 per cent of gross earnings up to $175,000 per year, all surplus to
mington, N. C., to Columbia, S. C., 189 miles. Leased jointly, Lane,
€!. C., to Sumter, S. C., 38 miles. Total operated, 227 miles. In 1880-81 ; go equally to lessor and lessee, and the bonds are issued subject to thin
lease.
1 or four years past the earnings, &c., w ere:
there was expended $42,000 out of earnings for locomotives. Paid 3
„
US
Passenger
Freight (ton)
Gross
Net
per cent dividends for 1880 and 1881.
Years.
Miles.
Mileage.
Mileage.
Earnings.
Earnings»
Road was sold in foreclosure, October, 1879, for $860,500, and re­
6,385,319
30,920,076
$851,090
$193,090
organization is in progress. The scheme of reorganization (which was 1879....... 455
.. 460 8,746,766
41,550,726
1,146,352
265,748
■carried out) provided that a new corporation should be created, with a I 1 8 8 0 ..
10,466,444
47,766,777
1,365,967
272,108
■capital stock of $960,000 and $1,600.000 in thirty-year first mortgage 1881 . . . . 461
1
8
8
2
..
..
440
11,427,237
44,437,249
1,3881490
zoz.aoa
252,468
bonds. The bolder of $2,000 of the old oonds, together with the certifi­
cates for funded interest, received a $1,000 bond of the new company, - ( V .o o , p. 23, 298, 313, 374, 405, 578, 707, 737 ; V. 36, p. 676; V. 37,
and in addition six shares of stock. The plan adopted provided only for p# 236, 344.)
Worcester & Nashua.—Sept- 30,1882, owned from Worcester to Nashua,
the first mortgage bondholders, and cut off income bonds, $600,000 ;
certificates of debt, $336,000 ; floating debt, $879,022, and the capital 46 miles; leased, Nashua & Rochester, 48 miles; total operated,
94
miles. Paid regular dividends of 10 per cent for some years
stock of the old comoany, $300,000. Earnings have been :
before 1874-5. In 1875-6 tbe leased line charges (Nashua & Rochester, 48
Years.
Gross Eam ’gs. Net Eam ’gs. miles) first appear in the accounts, and the Worcester & Nashua paid
$145.423 only 5^2 per cent dividends in that year. The rental charge being
1879- 8 0 .^....................... t ............ ..................... $547,446
1880- 8 1 .......................:--.................................... 640,956
135,917 plainly too heavy, an agreement was made in 1879 to reduce the
1881- 82......... ......... .......................................... 692,628
139,592 interest on bonds to 5 per pent, and the dividends on Nashua
& Rochester stock to 3 per cent per annum. The interest on Worcester
—(V. 33, p. 6 8 6 ; V. 35, p. 6 5 7 .) '.
& Nashua bonds was also reduced to 5 per cent, and surplus earnings in
any year above requirements for interest and 3 per cent on each stock
Wilmington <£ Northern.—Dee. 31, 1882, owned from Wilmington are to be apportioned between the stock of each company according to
Del., to Reading, Pa., 72 miles;'branches, 7 miles; total owned 79 miles the relative number of shares. In addition to above there are $37,000
Has bonds amounting to $122,700. Earnings in 1881 $325,012 ;net, 5 per cent W. & N. bonds. Five years’ operations were as follows:
’ Passenger
*1CCUTIirûl*
* DnAnn
$66,764. In 1882, gross, $339,092 ; net, $75,064. (V. 36,-p. 591.)
Freight
Gross
Net
Years. Miles.
Mileage.
Mileage.
Earnings. Earnings.
Wilmington & Weldon.—Road extends from Wilmington to Weldon, 18778 ....
94
5,703,761
9,961,740
$473,240
$168,351
N. C., 163 miles ; branch to Tarboro, 17 miles ; total, 180 miles. Was leased 18789 .'...
94
6,168,871
12,123,444
473,081
165,495
November, 1872, to Wilmington Columbia & Augusta Railroad for 99 18798094..
6,784,960
14,995,020
553,592
167,033
years. The lessees made default December, 1877,, and the lease was sur- 1880- 81 .. 94
7,222,999
16,153,062
588,770
155,196
rendered April 13,1878. For three years, 1879-81, 3 per cent yearly, 1881-82... 94
7,467,524
16,999,008
640,162
165,174.
dividends were paid. Tbe earnings and expenses for five years have been:
-(V. 33, p. 580; Y. 36, p. 139.)




78

CANAL m OCRS AND

BONDS,

[V o l . X X X V I I

Subscribers w i ll confer a great favor by g iv in g im m ediate notice o f any error discovered in these T ables.
Bonds—Princi.
INTEREST OR DIVIDENDS.
DESCRIPTION.
pal,When D ug
Siie, or
Amount
Rate per When Where Payable, and by Stocks—Last
For explanation of column headings, «fee., see notes
of
of
Par Outstanding
Dividend.
Whom.
Cent. Payable
on first page of tables. ■
Canal. Bonds Value.
. Mortgage b o n d s --------------------- ...........................
- 1st mortgage (originally $2,800,000)................
Maryland loan, sinking fund.................................. .
Guaranteed sterling loan....................... ...................
Bonds having next preference....................... .........
Delaware Division—Stock, (Conv.into L.C.&N.stck.)
1st mortgage (extended 20 years in 1878)...........
Delaware <6 Hudson—Stock.........................................
1st mortgage, registered.......................... ...............
do
do
..........................................
Debenture loan of 1894, coup and reg................
1st M., coup. <fe reg., on Penn. Div. ($10,000,000)
Lehigh Coal & Navigation—Stock........ ................ .'
Loan, conv., coup., gold (assumed L. <fc W. Coal Co)
1st mortgage, registered..........................................
1st mortgage, registered, railroad..........................
Mort. loan, g. ($2,810,000 assumed by other cO’s.)
Consolidated mortgage loan....................................
Greenwood 2d mortgage, reg. Extended, 1877..
Morris—Stock, consolidated..................................
Preferred stock............................................. ............
New mortgage (for $1,000,000).................. ..........
¡Preferredstock scrip dividend.............................
- General mortg., interest guar’d by Penn. R R —
thuylkill Navigation—Stock., com m on..,...............
1st mortgage, extended............................................
2d mortgage... 1........... . ............., ............................
Mortgage bonds, coup, (payable by P. <fe R .) ........
Improvement bonds..................................................
Boat and car loan ..................... ................................
Boat and car loan..................... ............... ...............
Asquehtmna—Maryland loan, 2d mortgage............
Susquehanna Canal, common bonds, 3d mort.......
do
pref. bonds, 1st mqrt............
do
pref., 1st T. W. priority b’ds.
do
boftds of 1872,4th mort........
UmoMr^-lst mortgage..................................................

’ 14
14
184
184
184
184
60
60
148
148
148
339

103
103
103
103
337
337
10&

__
85

$1,500,000
l',Ò‘Ò0
500,000
50
2,078,038
1,993,750
1856 Vario’ s
25
3,851,593
500 «fee.
2,000^000
500 «fee.
4,375,000
1,699,500
500 «fee:
50
674,950
1,000
800,000
1858
100 20,000,000
3,385,000
1,000
1869
1,000
5,549,000
1871
4,829,000
1,000
1874
5,000,000
1877 10Ö0«fec.
50 12,151,950
771,000
1869 500 «fee.
Var.
5,381,840
1864
Var.
2,000,000
1867
1867 500 «fee. 4,653,000
2,470,750
1,000
1871
643,000
1,000
1872
various.
243,451
1,025,000
. 100
100
1,175,000
780,000
1,000
1876
1865 various. * 220,000
103,164
1869 various.
4.501,200
50
1,000
2,984,000
1870
695,900
50
3,282,550
50
1,709,380
1,000
3,990,390
1,000
1,200,000
1,000
228,000
187Ò
756,650
1,000
1863
628,100
1,000
1864
1,000,000
1839
1,000
1,324,000
1859
500
227,500
’ 44-’64
97,810
500
’41-’64
250,000
1,000
1872
3,000,000
1879

Albermarle <6 Chesapeake.—Securities placed on New York Stock
Exchange list February, 1880. Prest., Marshall Parks, Norfolk, Va.
Chesapeake <& Delaware.—Delaware City to Chesapeake City, Md.
Chesapeake & Ohio.—In a suit against the company the Court (January,
1881) declined to appoint a Receiver, but ordered the company to report,
at stated times its receipts and payments.
Delaware Division.—Leased to Lehigh Coal <&Navigation Co. at interest
on bonds and 4 per cent a year on stock. In 1882 $958,400 was con­
verted into Lehigh Coal & Nav. stock, leaving $674,950 unconverted.
—(V. 36, p. 193.)
Delaware «£- Hudson.—This company, which is among the largest miners
and carriers of coal, leases the Alb. & Susa. and Rensselaer & Saratoga
railroads. Also endorses bonds of N. Y. & Canada RR. The stock is
to be increased to $30,OuO,000 to pay off bonds maturing in 1884 and
1891. To shareholders of May 24, 1883, there was allotted 35,000
shares to be paid for at par. The annual report for 1882 was given in
V. 36,'p. 193.Comparative statistics for four years:

7
6
6
5
6
2
6
1%
7
7
7
7
2%
6 g6
6
6 g.
- 7 .
i 7 1
6
2
5 '
7
7 ’
; 7
6
35c.
70c.
6
6
6
6
6
7
6
6
6
6
7

J. <fe J. N. Y., Union Trust Co.
J. <fe D. Philadelphia, Office,
do
do
J. <fe J.
J. <& J.
Q - J Bait., A. Brown <fe Sons.
London.
Q -J .
J. <fe J. Balt., A. Brown <fe Sons.
F. «fe A. Phila., 258 So. 3d st.
do
do
J. «fe J.
Q—Mch. N. Y., Bk. of Commerce.
J. «fe J
do
do
J. «fe J.
do
do
A. <& O.
New York, Office.
M. «fe S.
do
do
J. «fe D. Philadelphia, Office.
M. «fe S.
do
do
Q—J •
do
do
Q—F.
do
do
J. «fe D.
do
do
J. «fe D.
do
do
F. <&A.
do
do
M. «fe 8.
do
do
F. <fe A. Leh. Val. RR. Co., Phila.
do
do
F. <fe A.
do
do
A. ,<& O.
A. <fc O.
do ,
do
F. <fc A.
ao
do

.1870
1890
1885
Aug. 15, 1883
July 1. 1898
Sept. 10,1883
1884
1891
1894
Sept. 1. 1917
June 6, 1883
1894
1884
1897
1897
June 1, 1911
1892
1883-’84
Aug., 1883
Aug., 1883
April 1,1 90 6
Oct., 1885
Feb., 1889

J. «fe J. Phila., 233 So. 4th St.
Philadelphia, Office.
do
do
do
do
Q. -M .
do
do
J. «fe J.
do
do
J. «fe J.
M. «fe N.
do
do
M. «fe N.
do
do
M. «fe N.
do
do
J. «fe J, Phila. and Baltimore.
J. <fc J.
do
do
J. «fe J.
do
do
J. <fc J.
do
do
J. «fe J.
do
do
M. «fe N. Philadelphia, Office.

July, 1910
June 8,1883
June 8,1883
March, 1897
1882 to 1907
1895
May, 1880
May, 1913
May, 1915
Jan., 1885
Jan. 1, 191$
Jan., 1894
Jan., 1894
Jan., 1902
May 1,1883

July 1, 1909July, 1886

Wilkesbarre Coal Company assumes $500,000 of the gold loan due 1897
and $771,000 (all) of the convertible gold loan due 1894. The Board
of Managers’ report has the following statement of receipts and dis­
bursements :
RECEIPTS.
1880.
1881,
1882.
Railroads and Nesquehoning Tunnel. $1,157,900 $1,429,468 $1,445,190
-r
-i- Canal.
y-x___i
i108,666
ao oaa
rx ooa
rk
firm
55,830
55,699
Lehigh
21,065
18,947
19,755
Water Powers Lehigh Canal---74,044
90,176
47,586
Delaware Division Canal..............
240,742
325,666
185,626
Net profit on Lehigh Coal.. ..........
7,573
7,209
6,076
Royalty on coal mined by lessees
31,973
35,660
33.728
Revenue from ren ts---- -: ..............
4,824
13,316
7,737
Miscellaneous receipts........ ........
Total.......$1,609,676 $1,875,592 $1,939,212
DISBURSEMENTS.

$62,892
$59,101
General and legal expenses........ —
$51,792
97,050
97,050
Rentand taxes Nesquehoning Val.RR
97,050
INCOME ACCOUNT.
120,330
102,356
Rent and taxes Delaware Div. Canal
125,438
1879.
< 1882.
1880.
1881.
Taxes chargeable to canals........ . — ‘
2,5681
K Receipts—
$
$
$
$
Taxes chargeableto coal & coal lands
42,983 (
70,147
74,648
Bales of co a l
.................[5,764,477 7,210,524 9,328,763 8,993,540 Taxes on capital stock............. T.........
22,725 [
41,025
42,810
60,007 Taxes on landed property & impr’ts.
58,400
Canal tolls.
12,876 J
93,516
91,408
187,363 Interest account. . . . . ..................... ....
243,537
Miscellaneous profits........
915,039
942,976
932,231
535,264
.727,283
492,924
345,075
Coal on hand (Dec. 31) —
595,663
805,914 . 812,455
561,948
Railroad earnings in Penn.
$1,287,664 $1,261,668 $1,279,919
8,465
Profit on leased lines.----Surplus............. ........... •-................. $322,011 $613,924 $659,293
•326,635
312,243
301,858
249.497
Interest on investments.
The balance to credit of dividend fund Dee. 31,1880, was $194,236;
-Balance........................ —- - 630,643
Dec. 31,1881, was $471,445; Dec. 31, 1882, was $535,457.
The President’s report for 1882 said: “ Dnring the year an opportu­
T ota l...................
7,985,118 8,948,327 11,083,547 10,804,251
nity occurred of purchasing a coal property known as the Keniuoky
Disbursements—
$
$
$
- $
535,264
727,284
345,075 Bank Lands, situated about five miles west of Tamaqua.” * * “ The
Coal on hand Jan. 1.1,____
673,651
'Mining coal....................... 3,003,893 3,171,369 3,985,304 4,422,213 purchase covered 884 acres, which cost $222,089 60, about the amount
755.331
Coal transportation, & c... ' 641,951
596,827
798,701 which our sinking fund receives in three and a half years from a chargeCanal freight and exps___ 1,764,195 1,568,245 1,737,979 1,680.192 of ten cents per ton of coal mined. By the operation of this charge the
In terest...............
1,234,449 1,343,973 1,374,784 1,312,083 valuation of our coal lands, which stood on our books Jan. 1,1873, at
Taxes and miscellaneous.
350,916
366,578
400,401
407,756 $5,874,196 27, being at the rate of $816 per acre for 7,201 acres, has
been reduced, so that, including the Kent and McLean purchase in 1874
14,642
Loss on leased railroads...
316,059
B ala n ce........... .............
.......... 1,351,429 2,102,464 1,838.201 of 175 acres, and the Kentucky Bank Lands, and deducting 207 acres
worked out, which is a full allowance for the lands exhausted by
T o t a l....___ ________ 7,985,118 8,948,327 11,083,547 10,804,251 as
mining in the last ten years,we had Jan. 1,1883, 8,053 acres of equally
GENERAL BALANCE AT CLOSE OF EACH FISCAL TEAR.
valuable land charged at $5,816,058 22, or $722 per acre.
1879.
1882.
1880.
1881.
“ In order to secure for the Lehigh & Susquehanna Railroad the coal
$
Assets—
_
$
$
' $
from the Lehigh Luzerne Coal Company’s lands, which was
Canal, «fee.......: ......... : ____ 6,339,210 6,339,210 6,339,210 6,339,210 tonnage
about
to pass under the control of another railroad company, a loan of
Railroad and equipment.. 6,220,669 6,414,759 6,456,258 6,581,070
$75,000
was
made, secured by the transfer of eleven thousand shares of
Real estate....................
8,795,657 8,846,316 9,027,804 9,044,17
Mines and fixtures___. . . . 2,699,590 2,713,957 2,729,311 2,751,236 stock, being 55 per cent of the total issue. The loan is for three years,
but
the
tonnage
from these lands is perpetually bound by contract to
Coal-yard, barges, «fee...’. .
720,487 * 746,791
690,397
683,185
Lack. <&Susquehanna RR. 1,022,293 1,022,938 1,022,938 1,022,938 pass to market over our lines of railroad.” * * * “ During the past
year
the
extended
debenture loan of $106,190 76, the convertible de­
Albany & Susquehanna.......................
1,074,808 1,008,787
loan of $41,550, and the Greenwood first mortgage loan of
New York & Canada R R .. 3,597,074 3,597,074 3,597,074 3,597,074 benture
$140,000,
amounting
all to $287,740 76, were paid at maturity300,000
Cherry Val. & Sharon RR.
300,000
800,000
300,000 These payments, and in
purchases and loans above recited, necessi­
Meehan. & Ft. Edward RR
16,146
48,296 tated some increase ofthe
the
debt, which, after deducting cash
Scheh. & Meehan. R R ..........................
200,773
210,922 assets, now amounts to about floating
$1,000,000; against which this company
Coal on hand Dec. 31.........
535,264 - 727,283
345,075
492,924
holds
$740,000
of
its
consolidated
7
per
cent bonds, $306,000 Delaware
608,894
Advances to leased lines..
368,773
400,015
637.605 Division Canal Company’s bonds, and 18,901
shares of its own stock.’
Advances on coal royalties 605,326
615,514
613,181
625,073
—(V.
34,
p.
2
2
9
,6
0
4
;
Y..36,
p.
2
1
9
,
652.)
Miscellaneous assets........ 4,480,701 4,294,706 2,985,349 *3,658,429
Morris.—Leased April, 1871, to Lehigh Valley Railroad for 999
Telegraph and Car Co—
69,410
69,410
69,410 . 69,410
962,130 1,148,322 1,408,449 years. The lessees assume bonds and scrip, and pay 10 per cent per
Supplies on hand— . .-i—
878,000
Cash and bills receivable.. 3,140,116 3,785,656 3,884,088. 2,609,203 annum on pref. stock and 4 per cent on consol, stock.
Pennsylvania.—Worked in interest of Pennsylvania Railroad, which
Profit and loss.................. 1,208,726
Total assets............4 0 ,9 8 1 ,3 0 1 4 1 ,0 4 1 ,6 1 4 40,902,484 41,087,986 guarantees interest on bonds. An old mort. of $90,000 is due in 1887
Earnings
in ’ 82, $381,033; net, $127,292; interest, taxes, «fee., $205,987.
Liabilities—
$
$
$
$
S to ck ....................
20,000,000 20,000,000 20,000,000 20,000,000 loss, 78,694; earnings in 1881, $370,405; net, $107,793; interest, &c.,
S185
115.
Bonds.................................. 19,837,000 19,837.000 18,843,000 18,763,000 v Schuylkill Navigation.—Leased from June 1,1870, to Philadelphia <fc
Miscellaneous accounts... 1,144,301 1,003,827
823,053
836,899
for 999 years. Rental received in 1882, $357,085. In 1880 the
JProflt and l o s s ... . . . . . '. . . .................... 200,786 1,236,431 1,488,087 Reading
lessees defaulted on the rental and propositions made by the Receivers
Total liabilities..........40,981,301 41,041,614 40,902,484 41,087,986 of fhe Phila. <&Reading RR. to purchase coupons and dividends on cer­
* These miscellaneous assets include the following: Jefferson RR. tain terms were carried out. In March, 1883, the proposal from Phila,
bonds (85), $85,000; Albany <fe Susquehanna consols (1,701), $1,701,000: <& Reading to merge this company by giving one share of Phil. <fe R.
sundry bonds $64,538; 8,540 shares Albany & Susquehanna, $854,000: stock for two of S. N. preferred and one share of P. <feR. for four of S. N
8.241 shares Rensselaer <fc Saratoga, $824,100; sundry stocks, $129,791! common was rejected. (V. 34, p. 2 0 2 ; V. 36, p. 1 9 4 , 332.)
Susquehanna. -Leased and operated by Philadelphia <fe Readmg Rail­
—(Y. 34, p. 176, 2 6 2 ; V. 35, p. 51; V. 36, p. 139, 19 3 , 426, 535; Y. 37,
road for interest on bonds and half of net earnings. The stock is ex­
p. 23.)
Lehigh Coal <& Navigation.—The Central Railroad of New Jersey changed for Phila. <& Reading, two of canal stock for one of Reading.
esumes (in purchase ot equipment) $2,310,000 of the gold loan due Dec. 31, 1882, the floating debt was 507,684. (Y. 36, p. 561.
Hnion.—Stock, $2,909,850.
1897 and leases the Lehigh & Susquehanna Railroad. The Lehigh &




O c t o b e r , 1883.]

MISCELLANEOUS STOCKS AND

BONDS.

7&

Subscribers w ill'conifer a great favor bv srivin«- im m pdiaio
..
---------- ------------------- ---6
y
vm.-, lm m ea iate notice o f any error discovered in these Tables.
DESCRIPTION.
Bonds—Brinci-^
INTEREST OR DIVIDENDS.
Date Size, or
Amount
explanation of column headings, &c., see notes oh
of par
outstanding Rate per When Where Payable, and by pal,When Due...
first page of tables.
Stocks—Last
Bonds Yalue
Cent. Paÿ’ ble
Whom.
Dividend.
Adams Express—Stock................
$100 $12,000,000
2
Q -M . N. Y., Company’s Office. Sept. 1, 18S3
Amer. Tel. A Ga ¡We—Stock ($20,600,000) ?uar. 5 by West.U
100
14.000.
000 2*2
Q -M . N. Y., West. Union Tel. Sept. 1, 1883.'
American Coal (Maryland)—Stock ..
25
1.500.000
M. & S. N. Y., 110 Broadway. Sept.
rfs
American District Telegraph—Stock........................ .
10,1877
100
2.400.000
American Express—Stock......._.....................................’
100 18.000.
000 " s '
J. & "j. N. Y., Company’s Office July 2, 1883:
¿Bankers’ A Merchants’ Telegraphy-Stock.......... .
300.000
.6
Boston Land—Stock...................................... .. J....... '
Sept. 10, 1883t
V Ï0
800.000
Boston Water Power—Stock............. - 50
4,720,815
i6
8.
Boston,
Office,
Mortgage bonds (for $2,800,000)........
Nov. 12,1872:
1,000
2.148.000
7
J. & D
do
Canton Improvement—Stock..........................................
June, 1884
100
717,875
Sterling bonds (sinking fund one-fifth of land sales)
£200
495.000
J. & J London, Brown S. & Co Jan. 1, 1904s
Mortgage bonds, gold, sixes (for $2,500,000).
I6 ’ «1,000
539.000
g. J. & J New York or London. Jan. 1, 1904k.
Central New Jersey Land—Stock...................
100
2.400.000 7 scrip.
Central A South American Telegraph—Stock.
Jan., 1875
100
4.000. 000
Colorado Coal A Iron—Stock.................... •....
100
10, 000,000
1st consol, mortgage, gold.................................................... I i 'qqa
1,000
3.500.000
F. & A. N.Y.,Office,47William St
Consolidation Goal o f Maryland—Stock. . . . . . . . . . \ " "'" "['i 100 10,250,000
N.Y., Co.’s Office, 71 B’y Jan. 27,1882:
1st mortgage (convertible).........................
1864/ 1,000
270.000
J.
& "j.
do
do
1st mortgage, consolidated, convertible
Jan., 1885
1872
1,000
752.000
J.
&
J.
do
do
Cumberland Coal A Iron—Stock__
Jan. 1, 1897'
100
500.000
A. & O.
New York, Office.
International Ocean Telegraph—Stock
Oct.
15. 1875.
3.000.
000
J. & J. N. Y., West. Union Tel July 1, 1883
............
Iowa BE. Land Co.—Stock...
Too 4.437.000
Q.—F. Boston, Treas. Office. Nov. .1, 1883
Iron Steamboat Company-Bonds.
.............
1881
500
500.000
J. & 3: N. Y ., Mercantile Tr. Co. July 1, 190$
Mariposa Land A Mining—Stock
100 10,000,000
Preferred s t o c k .,.,.................
100
5.000.
000
Mortgage bonds....................
................ .......
1875
1,000
250.000
J.,& J.
New York.
Maryiana Coal—Stock..................
Jan. 1, 1883100
4.400.000
1*2
Bonds............. .-............ ........ ________ . . . I
Jan. 1, 1876
1,000
161.000
7
Mexican Telegraph—Stock.. . . . . . . . . . . . . . . . . . . . . . . . .
Nov.
1, 1906;
100
1.194.000
4
J.
&
J.
N.Y.,
Company’s
Office.
Mutual Union Telegraphy-Stock, guaranteed ....
1883
100 10 , 000,000
1^
1st mortgage bonds, gold, guar, by We3t. Union
■
Yearly.
1881
1,000
5.000.
000 6
M. & N. New York, 1st Nat. Bk. May 1, 1911?
New York A Texas Landrf Limited)—Stock............
50
1.500.000
.10
Land scrip receivable-'?!!' per cent for lands....
Sept., 1883:
3,133,200
Debentures, registered.......................
322,515
"7
New Oentrat Coal—Stock
......
1900
100
5.000.
000
2
New York, Office.
New York A Straiisvilie Coal A Iron—Stock..........
Jan. 15„lS81i
100
1.500.000
1
IM’nthly
New York. 1
April, 1880
Adams Express.—No reports; no information.
pany guarantees also 2dmortg. bonds of the Cumberland <fe PennsvlAmerican Telegraph A Cable Co.-Owns two cables between Sennon y aniia>an^ assumes $135,000 of the Union Mining Co.’s bonds. TheCove, England, and Dover Bay, Nova Scotia. The stoek of $10,000,000 total bonded debt on lands and railroads is $2,522,500. (V. 34, p. 290,>>
was partly paid up, and in April, 1882, a p oolin ’- arrangement was
International Ocean Telegraph Co.—The Western Union Co. operates
made with the other cable companies for 38 years, by whi^i this com­
the.lme by contract for 99 years from Jan. 1,1882, paying 6 per cent
pany receives 22 ^ per cent of combined revenues while both its cables per
year on stock.
■
^ w o r k i n g and 12*a per cent if only one is working. Then this comT 70*0!
?
Land.—The total land owned was 65,328 acresi
March 31,1883. (V. 35, p. 78 ;V. 36, p. 707)
i
N on Steamboat Co.—Property consists of seven iron steamboats
between Brazil and the United States. (V. 34, p. 548, 662; V. 35 p. Bonds
and stock listed in June, 1882. Stock, $2,000,000.
373.)
Mariposa Land A Mining.—There are outstanding only 15,000 shares
^ ft mSri can Goal.—There are mortgage bonds for $200,000. No annual
report has recently been published. The annual report for 1880 gave tbe bmance being owned by company. Litigation is in progress. (V. 34»
the following information:
*
h
Maryland Coal Co.- -See annuai report for 1882 in C h r o n i c l e , Y. 36»
p. 705.
Mexican Telegraph.—Galveston to Tampico and Yera Cruz; land line.,
Property at mines, $31,219; personal propertyTt ’w harveT /e r a Cruz to Mexico City. Has exclusive right for 50 years for all
i? ^ n n L ^1a1n1T <(eelVaible’ f 16’,3 ®«’, accounts, $107,177; canal boats, foreign telegrams to Mexico, except telegrams to and from a neutral
$17,000 , value of coal on hand, $24,712; office furniture. $513* Cliesa- zone on the U. S. border 156 miles wide, between the Gulf and Pacifio
peake & Ohio Canal bonds, $8,000; C. & P. Railroad stock, $1,000; Q. C. Ocean. Jas. A. Scrymser, Prest., N. Y. (V. 36, p. 140.) '
Railroad stock, $160,000; total, $2,069,377. D irectors: James A
Alexander, John P. Moore, Sidney Wintringham, Gardiner Lloyd, BenMutual Union Telegraph.—Organized under New York State laws.
Vdhamson Richard S. Grant, William J. Boothe, A. J. Akin. Stock was $600,000 and afterward increased to $10,000,000. Im
Feb., 1883, a lease to Western Union for 99 years was agreed to at lig
Georee
Seore: per-cent yearly dividends on the stock and interest on the bonds. Maw
American District Telegraph.—No information has been furnished bv 5,1883, it was voted to reduce the stock to $2,500,000 with 6 per cent
this company. Notice was giyen of an increase in stock to $3,000,000 per annum dividends. (V. 35, p. 22,189, 393, 516, 545, 576, 637, 658rtle Par of shares to be raised to $100. (V. 34, p. 203,230,459, 573 • v ! V. 36, p. 30, 162, 197, 252, 358, 399, 510, 537.)
l„ Ws of
v f ei Ca f nJ s’ JolegrapJv- Organized March 23, 1881, under
Ö
3 Ä V , Authorized capital. $1,000,000. Route from
New York City to Washington, via Philadelphia. In Sept., 1883, this
companynegotiated for the control 9f the.stock of the Southern anclthe
iy™'
Telegraph, making a practical consolidation of the three
S i i67^266V M
) P rest’ Philadelphia. (Vv 35,„p. 7Ö6; V. 37, p.
band.—The capita! stock of 80,000 shares of the par value
OT $800,000. Operations of the company and assets Jan6
V 36 3 ’ 107WI1 m t6e aunual report in V. 36, p. 107. (V. 34, p, 175.
BoslonfWgter Power.—The shares have strictly no par value. There
shares called “ proprietary” shares, or the number into which
th ecom panyis divided. The assets consist mainly of
lands on ajid near Back Bay, in Boston, put in the company’s report
at a valuation of $4,428,141. (V. 34, p. 4 8 8 d
1
report for the year ending May 31,
■;8? ? ’ 18 V. 3o>P-d30. A brief history of the company was in V. 30,
p - JiT. The company owned the stock of the Union RR. Co. and guar­
anteed its bonds, but sold this stock ($600,000) to the Northern Central
f° r $594,000. The Union RR. sinking fund of
196^520<-rv n35np 3 ^1)0perty 6f CaBton Co. (V. 33, p. 99; V. 34, p.
vha ®5>833

Central New Jersey Land Improvement.—The statement for two vear
^totaL receipts in 1880 0^72^666
1881 ot $94,255. The balance sheet December 31,1881, gave
the following values of lands owned: Newark lands
vqq .»
$575.850 : Elizabeth. SRI«4.950S
SSPfgS»

New York A Texas Land—This company took the lands granted to the;-.
International and Houston & Great Northern railroads, about 5,000,000»
acres, which were given in settlement to the holders of convertible and.
second mortgage bonds. Up to Oct., 1883, it was reported that about;
1,500,000 acres had been sold (largely to the Francklyn Syndicate) and
half of the $6,000,000 land scrip retired, the holders being secured
by debentures given by the purchasers of the land and deposited in trust.
This would leave about 3,500,000 acres of land unsold. (V. 36, p. 536.) ,
New Central Coal (Md.).—The annual report for 1882 was published;
in the C h r o n i c l e , V. 36, p. 706, showing net profits of year, $12,425:
and balance to credit Dec. 31,1882, $274,914. (Y. 36, p. 7 06).
New York A Straitsville Coal A Iron.—Has $300,000 bonds. The stock admitted to New York Board»April, 1880.
Northwestern Telegraph.—This company owns 8,000 miles of wire and
is leased to Western Union for 99 years, with guaranteed dividends of
4 per cent at first, rising one-eighth per 'cen t a year to 6 in 1897 and:
afterward. The bond interest is guaranteed. (V. 33, p. 358.)
Oregon Improvement Co.—This oompaE.y owns $3,000,000 stock o f
the Seattle Coal & Transp. Co.; $575,000 stock of the Columbia & Pugefc
Sound RR.; $1,969,000- stock of the Pacific Coast S. S. Co. ; 170,000»
acres of land, and other real estate. For eight months of 1883 gros®,
earnings were $2,588,122, net $834,321 ; against $2.049,526 gross and
$689,886 net in 1882. (V. 36, p. 253.)
Pacific Mail Steamship.—In February, 1880 an agreement w as
made between this company and the Pacific Railroads, by which the
railroad company gave to the steamship company a monthly subsidy
Of $110,000. In November, 1881, it was terminated, and in Feb., 1882»
the amount was made $95,000 per month, and six' months’ notice is
required to terminate the agreement. On April 30, 1883, the com­
pany’s liabilities were $1,295,288, which included $1,013,528 loans due
to Panama RR. Co. Report for 1882-83 in V. 36, p. 621.
Tnefollowing is a statement of thé earnings and expenses for th e.
years ending April 30,1881,1882 and 1883 :

$4,780; Bloomsbury, $26,345; Pfiillipsburg, $1,088; total, $ ¿4 1 6 935’
Bonds and mortgages, $33,890; land contracts, $12,282. ^
• Central A South' Am. Telegraph.—Line from VeraCruz. Mexico to
JtoSf '
branches, 3,160 miles of cable and 300 miles of land
Tel^ CoCo?A hierfca'“I *mker’i
’ Connects at Lima with West Coast
EARNINGS. v fra rrn iw u h m S ^ ^ , 1,700^ 680* 0^ 16 to Valparaiso, and at
1880-81.
1881-82.
$745,344
$693,065
Ja^es^^SCTymser^resto N^'Yf^11 C° ‘ St° ck 18 $5’ G00’ 000«
toonds- Atlantic Line......................
Panama Line.................
1,950,507
1,675,777
Brutons“ O oi^ w L 't
company, with headquarters St Colorado Victoria Line. . .............................
80,887
x S l l e m e n t T ’o
P ’ 1879>of
Central Colorado Trans-Pacific L in e................
973,472
1,058,370
307,073
f^loradmi’ofll A^™^rACOlmhado Coal & ? teel Works, and the Southern Australian Line..... ..................
334,870
Grande R^kmtd^naT-Hes
c°lrd ,auy is controlled by Denver & Rio Austral’n&N. Zea’ld subsidies.. - 203,550
208,931
1882
“^^.^-nomassessabier Gross receipts in Cent. Am. & Mexican subsidies..
99,416
90,463
‘renort'was in the V’ uroWiatI’ i^ 4^ 785> not including . land sales. A British Columbia subsidy........
4,222
Government subsidy.
3,000
8,000
- f v f l f p ! « r ? v s T K e T y 3 6 ? p . 6 5 6 ..? re8ideat’ w - J - Palm er- Hawaiian
Interest and divs, on investm’ts.
12,897
13,663
18,225
37,698
T h iS S
’P e°ntaincd the following: M iscellaneous................ ..........
xne grosaieceipts trom names, railroads, rents,
1881.
1882
• E x c h a n g e ....................
4,050
3,876
&c., (mcl g value o f st ck of coal on hand) were. $2,417 794 $1 7 14 213
Tot. expen’s o fe very land (gxcl. of int. & sink, fd.,
’
•
Total_______ ______________ $4,402,647 $4,124,713
► put mcl. steel rails & all extraordin’ry outlays) 1,982,458 1,637,601 Expenses........... .........................
3,172,705
3,223,036
i Nst I6C6iptS........
*
Net ea rn in g s ..'....... . . . . . . . . . . . . $1,229,942
$901,677
^^Consolidated mortgage bonds are ¿¿Id to 'Atii-'e old bonds. This con i - ( V . 34, p. 178, 625, 6 3 5 ; V. 36, p. 6 2 1 ).




1882-83t
$799,767
1,844,462715,732
353,200
173,980 !
102,8llO;
**5,50017,941
27,766
61,616
$4,102,764
3,190,50T
$912,25T _

80

MISCELLANEOUS STOCKS AND

BONDS.

[V ol . X X X V II

Subscribers w i l l confer a
INTEREST OR DIVIDENDS.
DESCRIPTION.
Date Size, or
Amount Rate per When Where Payable, and by
Par Outstanding
For explanation of column headings, &c., see notes on first of
Whom.
Cent. Payable
Bonds Value.
page of tables.
N. Y.,West. Un.’ Tel. Co.
J.
&
J.
2
$2,500,000
$50
Northwestern Tetegraph—Stock........ .....................................
do
do
1,180,000
7 g. J. & J.
Bonds, interest guaranteed.. ............................ .
M. & S.
4
5,000,000
100
Oregon Improvement Co.—Stock................. ......... - ...............
N. Y., Farmers’ L.&T.Co
J.
&
D.
4,916,000
6
g.
1,000
1880
1st mort., gold, sinking fund........................... C - - -.......
3
100 20,000,000
Pacific Mail Steamship—Stock— ............................... ----4
Q.—F. N, Y., 111 Broadway.
5,000,000
50
Pennsylvania Goal—Stock......................................................
7,000,000
Postal'Telegraph Co.—Stock ($21,000,000)............- — ...
3,000,000
é
1st mortgage (for $ 10,000,000) ..................... ...............
Q .-F . N. Y., Farm L. & T. Co.
3%
100 13,269,000
Pullman Palace Gar—Stock..................... - - - - ........................
do
do
Q .-F .
445,000
8
1,000
1872
Bonds, 3d s e r i e s . - . ............. - - ......... - - ~.........
do
do
Q.—F.
820,000
8
1,000
1872
Bonds, 4th series......................... ........................ . —
do
do
A. & 0.
7
955,000
1,000
1878
Bonds, debenture................... v i b v y - -:,* -; -uy ; - "
49.500
7 g. A. & O. Lond’n, J.S.Mofgan&Co
£100
Bonds, sterling debenture, convertible till April,
.. 1875
40c.
100' ' ' 5,70S',700
Quicksilver Mimng—Common stock......................................
$6
4,291.300
100
Preferred 7 per cent stock, not cumulative. . . . - - - - ........
900,000
2i* ■■ Q .-F . N, Y., Clark, Post & M.
100
Railroad Equipment Go—Stock (for $1,500,000)...............
Quar’ly
do
do
6
4,102,000
1,000
Var’s
Coupon bonds. (See remarks below.)........................
’
2,500,000
100
- St. Louis Bridge <&Tunnel Bit.—Bridge stock, common....
2fiì J. & J. N. Y., Drexel, M. & Co.
2,490,000
1
:
lo
o
1st preferred stock, guar................ - - - - - — ........- .......... f
do
do
3,000,000
109
XB J. & J.
2d p f eferred stock, guar...... - ......... .........- - ............
5,000,000
7 g. A. & O. New York and London.
1,000
1879
1st mortgage, new, sinking fund:.......... ..............- - -----J. & J. N. Y., Drexel, M. & Co.
3
1,250,000
Tunnel PR. of St. Louis, stock, gu a r.... - - -- -- - - .............
948,000
2H A. & O. N.Y., West. Union Tel.
25
Southern <6A llantic Telegraph—Guaranteed stock. - - - - - - ;
3fiî J. & D. N. Y., Company’s Office.
1.500,000
50
Spring Mountain Coal—Stock, guar. 7 per ct. by L. V ----2,300,000
50
Sterling Iron <£ Railway.-.—Stock. . . . . . - . - - - .......- ................
New York.
Feb.
7
418,000
1880 500 &c.
Mortgage bonds, income, series “ B .......... ..................
6 .
495,575
1,000
1876
•Plain income bonds.................................. ........ — *-•--....
18,920,000
10
..................- ........... *—
Sulro Tunnel—S to ck ......
London.
600,000
L879
Mortgage bonds (for $2,000,000).......... ............................
New York, Office.
Q .-F .
7.000.
000 1
100
United States Express—Stock.................................................
M. & S. New York and London.
5.000.
000
IH
United States Bolling Slock—Stock.. . . . . . ....................- ........
New York, Office.
J, & J.
4
6,250,000
100
Wells, Fargo & Company Express—S tock... .......................
New York, Office.
Q .-J .
100 80,000,000 i 1%
Western Union Telegraph—Stock........ .................................
N.
Y., Union Trust Co.
7 g. M. & N.
1,000 I 1,373,000
1872
Real estate bonds, gold, sinking fund...
N.
Y.,
Treasurer’s Office
M.
&
N.
3,920,000
.
.
J..-------A«
/»n
riT
T
-f-ill
Movr
'
l'OOO
Bonds,'coup, or reg., conv. till M a y,’85, sink. fd. 1 p. ct. 1875
London,
Morton, R.& Co
931,176
6 g.- |M. & S.
«•horiinfi- bonds,
hnnds. coupon
counon (sinkin
(sinking fund 1 p. ct. per annum) I 1875 BlOO&c 1
Sterling
Pennsylvania Coni.—Liabilities at a minimum, and 16 p. c. divs. paid.
Postal Telegraph Co.-Lines to extend from New York to Chicago!New
York to Washington, New York to Boston, Buffalo to Pittsburg, Fostovia Ohio to Toledo, and Chicago to St. Louis, some of which are already
^ operation , and others to be completed by Jan 1, Of the stock $7,000,?000 lS outstanding, $12,000,000 is held in trust, and balanceremams m
treasury. Mr. J. W. Mackey is the President. (V. 37, p. 17o, 235, 324,
424.)
Pullman Palace Car.—The stock has been increased to provide new
capital, as wanted, since the price ruling above par, gave a bonus to
stockholders when subscribing for new stock. Annual report for year
ending June, 1883, in Chronicle of Oct. 27. Income account for three
years was as follows:
i 880-81.
1831-82.
1852-83.
-7?pvpf)/
ljP—
$
$
^
Earaings (leased lines included). . . . . . 2,355,267 2,815,986 2,946,277
Proporfloh of earnings other assoc ns. 481,573
582,231
60o,59b
Patent royalties and manuf. profits... l4o,547
339,321
o28,256
Profit aqd loss............... .— .................
13,109
.......... 13,116
■ Total revenue.. _________- ............ 2,99o,496 3,737,538 4,093,245
Disbursements—
.
976,380
Operat’gexpenses (leased lines mol’d)
768,310
917,308
217,634
Maintenance of upholstery, &c........
175,499
207,156
175,702
Prop’ll of expenses, &c., other assoc ns
132,600
148,427
264,000
Rental of leased lin e s .....................264,000
264,000
171,074
Coupon interest on b ond s....................
191,867
169,043
870,937* 1,235,142
Dividends oh capital stock..................
482,166
.......... .
20,995
Profit and loss____ — ..........................
............
Total disbursements............. - ........ 2,014,442 2,597,866 3,039,932
Net result.............................-- -.— - --•
981,054 1,139,672 1,053,313
Balance of account for rebuilding, &c.
........
128,136
Balance of surplus for the year............
981,054 1,011,536 1,053,313
Paid 1*2 per cent extra dividend Nov. 1,1883.
- ( V . 34, p. 20, 62, 115, 147 ; V. 35, p. 298, 3 1 9 ; V. 37, p. 424.)
Quicksilver Mining.—Bonds paid off July, 1879. The preferred stock
is entitled to 7 p. ct. per annum, not cumulative, and any surplus goes
£o the common and preferred equally. (V. 32, p. 336; V. 33, p. 178.)
' Railroad Equipment Go.—'This company leases equipment to railroads
oh the “ Car Trust” plan, taking obligations of the railroad companies
running not over ten years at the utmost, whieh cover the principal and
interest of the special series of bonds issued by the Equipment Co.
Tunning for similar periods. The title remains in the lessor till last
■payment is made, and then vests in the purchasing railroad. In the
meantime the title is held in trust for bondholders and the bonds are
virtually a mortgage on the rolling stock, till paid off.
St Louis Bridge & Tunnel Railroad.—The railroad and tunnel were
sold under the mortgage of 1873, July 1,1878. Foreclosure under the
first and second mortgages ou the bridge was made Dec. 20, 1878.
On July l 1831, the bridge and Tunnel Railroad were leased to the Mo.
Pacific and Wabash St. Louis & Pacific for the term of their cor­
porate charters. Of the stock $2,490,000 is 1st preferred, which
s guaranteed 5 per cent till January, 1885, and then 6 per cent:
$3,000,000 2d preferred, which is guaranteed 3 per cent per annum,
the first semi-annual payment being July 1, 1884; and $2,500,000 common. The common stock was field by tfie London Reorgani­
zation Committee., and under tfie lease was transferred to Mercantile
Trust Company of N. Y. with power to vote thereon. The Tunnel Rail­
road stock is guaranteed 6 per cent per annum. (V. 34, p. 86.)
Spring Mountain Goal Co.—'This is guaranteed 7 per cent per year till
1885 by Lehigh Valley Railroad.
Sterling Iron & Railway.—The property of this company,'in Orange
County N Y., (and a few acres in Rockland) consists of 25,000 acres of
land with furnaces. &c., having a capacity of 15,000 tons of pig iron
per vear, and 8*2 miles of railroad, houses, &c. The company endorses
the $471,674 bonds of the Sterling Mountain RR. A. W. Humpfireys:
President, 42 Pine Street, N. Y. £
sutro Tunnel.—Tunnel on Comstock Lode for facilitating mining oper
ations. (V. 30, p. 249; V. 34, p._452; V. 36, p. 358.)
United States Express—No reports. •
United States Rolling Stock Co.—The assets, Dec. 31, 1.881, amounted
to $4 058,470 in locomotives and cars, and total including shops, &c.
$5,635,496. The net income in 1881 was $329,771 over all charges.
Wells, Fargo <&Company Express.—An increase in capital to $6,250,
000 Whs made.in 1879.
-Western Union Telegraph—On the practical consolidation with tfie
Atlantic & Pacific in 1878 the Western Union had a monopoly of tele­
graphing business in the United States. In 1879 the American Union
opposition line was started under the auspices of Mr. Jay Gould. The
Western Union Co. divided up its surplus stock,-making a scrip dividend
' o f 17 per cent to stockholders of record June 20. 1879. On Jan, 19.
1881, was dated tfie grand consolidation, in which the Western Union




-Princi
Stocks—Last
Dividend.
July 1, 1883
Jan. 1, 1904
iept. ' 5, 1883
Dee. 1, 1910
Sept., 1868
May 1,1883
Nov. 15,1883
Feb. 15, 1887
Augi 15, 1892
Oct. 15, 1888
April 1,1885
May, 1882
May, 1882
Nov., .1883
Various.
July 1, 1883
July 1, 1884
April 1, 1928
Jan.' 1, 1884
OCt., 1883
June l l fc1883
April 1,1894
Oct. 1,1836
Jan. 1, 1891
Aug. 15,1883
0)
July 16, 1883
Oct. 15, 1883
July 15,1902
July 16,19,09

raised its stock to $80.000,000. giving par. or $15,000,000. for tfie.stock
and bonds of tfie American Union; 60 per cent for old Atlantic & Pacific
stock was given in new Western Union; and a stock distribution of 38
per cent to Western Union shareholders. An injunction was obtained
against the stock distribution and litigation ensued, and after a de­
cision at first m favor of tfie Western Union, tfie stock dividend was
in November, 1882, declared illegal by the General Term of tfie New
York Superior Court, but was finally field to be legal by tfie N. Y. Court
o f Appeals in October, 1883.
.
■
. . . . . .
In March, 1882, Jay Gould and associates obtained a ^majority of tfie
Mutual Union Telegraph stock of $10,000.000, and so stopped its oppo
sition, but disagreement followed until, in Feb., 1883, alease was agreed
upon. The Western Union also leases tfie American Cable, with a guar­
antee of 5 per cent per- annum on its $ 10,000,000 stock, raised to
^lie'statement for tfie quarter ending Sept. 30,1883 (partly estimated);
was as follows, compared with tfie actual figures for same quarter in
1882 : '
|
1882.---------- . ^ -------- 1883.----------- .
$1,650,000
Net revenues........................
$2,329,489
$106,700
Deduct interest on bonds... .'$106,850
20,000— 126,700
Sinking funds............. i .......... 20,000— 126,850
Net income for quarter...................... $2,202,639
Dividends, 1*2 in 1882 & 1%, in 1883.. 1,199,781

$1,523,300’
1,399,779

Surplus for quarter. . . . ...........................$1,002,858
Add surplus July 1 . . . . . . . . , ............. -. 1,664,240

$123,521
3,658,566

$3,782,087
Surplus Sept. 3 0 .....................
$2,667,098
From the annual report published m the Chronicle, V. 37, p.
3if7, tfie following was given for the fiscal year ending June 30,1882.
Tfie revenues, expenses and profits were as follows:
1882-33.
1881-82.
Gross revenues of the years end’g June 30. $17,114,165 $19,454,902
Expenses (including leased line rentals and
9,996,095
11,794,553
tpxes)........*. — ........................... ............
Netincom e................. .........................—
From which there was applied: £
For dividends...............- ............................
For interest on bonds....................................i
For sinking fund appropriations.............

$7,118,070
A,

$7,630,349
isi , n„ i o j

427,091
40,097

4 6,817
40,094

Total................ .................. - .............----$5,265,662
$5,666,035
L e a v i n g . . ; . . . . .. . . . . . . . .......... . . . . . . .......... •.* $1,852,408
$1,994,314
Nominal balance June i O . . . . . ..................
$1,979,666 $3,658,553
The annual report for the year ending June 30, 1883, was in the
Chronicle V. 37, p. 397. Tfie general results of operation as given made
a favorable exhibit, but tfie annual report is very brief in details, and
does not state what the operating expenses were as distinguished from
tfie rentals, which are becoming a large amount in tfie annual disburse­
ments. No general balance sheet is given, nor any statement as in
former reports of tfie amount of tfie expenditures for new construction,
patents, &c.
,
,
I
..
The balance for sixteen years, from tfie date of the general consoli­
dation—July 1, 1866, showed tfie nominal surplus to June 30,1883, of
$20,543,381, out of which tfie stock dividend was declared in 1881 to
tfie amount of $15,526,590, leaving a nominal balance of $5,016,792.
The following statement shows the mileage of linesand wires, number
of-offices, and traffic of tfie company, for each year from June 30, 1866,
to June 30,1883 :
Net
Miles of Miles of No. of No. of MesWire. Offices. sages Sent. Receipts. Receipts.
Line.
Years.
$ ............... $ . . . . . . . .
75,686 2)250
37,380
186566
.
6,568,925 2,624,919
5,879,282
46,270
85,291 2,565
186667..
7,004,560 2,641,710
6,404,595
97)594 3,219
50,183
186768..
7,934,933
7;316,918 2,748,801
52,099 104,584 3,607
186869..
7,138,737 2,227,965
9,157,646
1869-70.. 54,109 1Ì2)191 3,972
7,637,448 2,532,661
56.032 > 121)151 4,606 10,646,077
187071..
8,457,095 *2,790,232
1871- 72.. 62.033 137,190 5,237 12,444,499
9,333,018 2,757,962
1872- 73.. 65,757 154,472 5,740 14,456,832
9,262,653 2,506,929
16,329,256
175,735
6,188
71,585
1873- 74..
9,564,574 3,229,157
1874- 75.. 72,833 179,496 6,565 17,153,710
1875- 76.. 73,532 183,832 7,072 18,729,567 10,034,983 3,399,509
9,812,352 3,140,127
1876- 77.. 76,955 194,323 7,500 21,158,941
9,861,355 3,551,542
1877- 78.. 81,002 206,202 8,014 j.23,918,894
1878- 79.. 82,987 211,566 8,534 25,070,106 10.960,640 4,800,440
5,833.937
12,782,894
29,215,509
9,077
233,534
85,645
1879- 80..
5,908,279.
1880- 81 110,340 327,171 10,737 32,500,000 14,393;543 7,118,070
17,114,165
38,812,247
12,068
374,368
188182.. 131,060
432,726 12,917 40,581,17'* 19,454,903 7,660,350
188283..114,294
—(V 35,p. 189,310; 339. 393.421, 4 2 7 , 546.559. 699. 737, 764; V. 36»
p. 82, 162, 197, 254, 313, 358, 427,575, 676; Y. 37,p. 295, 376, 3 9 7 4

BANK AND INSURANCE STOCKS AND RAILROAD EARNINGS.

OCT., 1883.]

BANK
Companies .

STOCK

L IS T .

Capital .

D ividends .

t

Mkd. tluls (*)
are not Natl, Par Amount.

IN S U R A N C E

Period 1881 . 1882

Companies.

Latest.

Capital .

STOCK

81

L IS T ;

Net
Surplus,
July 1,
1883.*

D ividends .

Par. Amount
1880 1881. 1882 Last Paid.
America*. 100 3,000,000 1,679,7000 J . A J
7'
8 July, ’83. 5
A m .E xch. . 100
0 M. & N
7
7 May, ’83. 3*2
B ow ery. . . . 100
0 J . & J 10
10 July,’83. 5
$
Broadw ay.. 25
0 J . & J 16
18 July. ’83.10
American!.
400.000 610,482 10
10
842 July, ’83. 5
Butch’s’ADr 25 300.000
0 J. & J
7
8 July, ’83. 4
Amer. Exch.
200.000
61.566 10
10
10
Central. . . . . 100 2,000,000
July,’83. 5
0 J. A J
8
10: July,’83. 4
B ow ery. . . .
800,000
374,386
10
2Q
20
C h a s e ....... 100 300.000
July,’83. 6,
OJ. A J
8
8 July,’83. 4
Broadway’. ,.
200,000 332,398 16
16
14
Chatham___ 25! 450.000
Aug.,’83.
7
0J. A J
6
9 July, ’33. 5
Brooklyn ({).
153.000 199,648 20
20
20
Chemical... 100 3u0,000i
July,’83. 7ia
0 Bi-m’ly 100 100 Sept.,’83.15
Citizens’ .. . t
300.000 444,377 20
10
10
Citizens’ . . . . 251 600.000
July,
’83.
5
0 J . A J. 7
7 July,’83. 3*2 City.........
210.000 173,854 10
10
10
City.............
Aug.,’83. 5
O M. A N. 15
10 May, ’83.10
Clinton ...
250.000 129,885 10
10
10
Commerce..
July,’83.
5
0 J. A J.
8
8 July, ’83. 4
Commercial.
200.000
28,637 10
10
10
Continental. lo o ;1,000,000
July,’83. 3*3
UJ, A J.
7
9 July,’ 83. 3*2 Continental t TOO 1, 000,000 1,641,032 13-77 14-35
14-70 July, ’83.7*70
Corn E x c h .
0 F. A A. 10
10 Aug.,’83. 5
Eagle............I
40
300.000
677,192
15
15
15
East River . 25 250.000
Oct., ’83. 7*a
OJ. A J.
7
7
July,’83.
4
Empire
City.
200.000
49,015 7
7
7
11th Ward*. 25 100.000
July,’83. 3
OJ. A J.
Exchange...
200,010
70.043 1-0
10
F ift h .......... 100 150.000
8I2 Aug.,’83.
OJ. A J.
6
6
July,’83.
3
Farragut.
200,000 103,258 15
12
.12 ¿ July,’83. 6
Fifth Ave*.. 100 100.000
0 .............
Firemen’s
204.000
54,154 7
842 6
First.......... 100 500.000
July,’83. 5
0 Q .-J .
40
40 Oct., ’83.10
Firemen’s Tr.
150.000
11,304 10
10
10
Fourth........ 100 3.200.000
Jan.,’83. 5
OJ. A J.
71«
8 July,’ 83. 4
FranklinA E.
200.000 122,955 11
11
12
F u lto n ..... 30 600.000
July,’83.
6
) M, A N.
7
7
May,
»83.
3^2
German Am.
1, 000,000 :,597,897 10
12
12
G allatin. . .
July.’83.
7
50 1,000,000
) A. A O.
8
10 Oct., ’83. 5
Germania..
1, 000,000 750,546 12
10
10
G arfield.. .
July,’83. 5
50 200,000
J. A J.
Globe..........
200,000 115,473 10
10
10
Germ’nAm. 75 750.000
July.’83. 5
F. A A.
6
6 Aug.,’83 3
Greenwich..
200,000 292,969 30
30 ’ 30
Germ’n Ex.* 100 200.000
July,’83. 7 ^
May.
8
8 Mav, ’83.10
Guardian___
200,000
4,445 642 6
542
July,’82.
3
Germania*.. 100 200,000
M. A N.
6 .
7 May,’83. 4
Hamilton.. .
150.000 108,290 124a 1242 10
July, ’ 83. 5
Greenwich*. 25 200,000
M. A N.
6
6 May,’83, 3
1, 000,000 728,905 10 - 10
10
H anover.... 100 1, 000,000
J. A J.
7
7 July,’83. 3ig
3.000.
000
,749,292 10
10
10
Home*........
125.000
........
500.000
71,580 10
10
5
’83. 3
Imp.& Trad. 100 1.500.000
>J. A J. 14
14
July,’83.
7
200.000
10,390 7
10
none.
Irv in g ........ 50 500.000
’83. 219
J. A J.
8
8 July, ’83. 4
200,010 278,283 10
10
10
’83. 5
Leather Mfr, 100 600.000
J. A J. 10
M> July, ’83. 5
150.000 195,247 20
20
Ju ly,’83.10
Lincoln . ... 100 300.000
..........
210
, 000'
91,188
none,
none
J
u
ly
,’83.
3
Madis’n Sq* 100 200.000
..........
150.000
54,105
Ju ly,’83. 5
Manhattan * 50 2.050.000
F. A A.
7
7*2
Aug.,’83.
4
300.000
106,171
July,’83.
5
Marine.. . . . . 100 400.000
J. A J.
8
300.000
20,877
8 July,’83. 4
July,’83. 3
Market____ 100 500.000
J. A J.
8
8 July, ’83. 4
200.000 153,499
July,’83. 3
Mechanics’ . 25 2,000,000 1,151,50< J. A J.
8
8
July,’ S3. 4
200,000 125,731
July,’83. 5
Mech. & Tr. 25 200.000
250.000 143,436
July,’83. 5
Mercantile,. 100 1,000,000
J. A J.
3 '
6 July,’83. 3
1
200.000
13,722
July,’83. 3
Merchants’ , 50 2, 000,000
J . , A J.} 7
7
1
uly,’83.
342
j
200,000
128,329 10
Jan.,’82. .5
Merch. E x.. 50 1, 000,000 182,100 J. A J.
6
6
1
uly,
’83.
3
1
200,000
71,059
July,’83. 5
Metropolis *. 100 300.000 161,800 J. A J.
7
7
luly,’83. Sis 1
200,000 154,490
July,’83. 5
Metropolitan 100 3.000.
000
1,469,900
J. A J. IO
10 July,’83. 5
1
200,000
70,156
July,’83.
5
Mt. Morris*.
100.000
26,700
210,000 344,068
July,’ 83. 6
Murr’y Hill* iò’ó 100,000 130.400 J. A J.
6
9 July,’83. 6 * I
200,000
64.122
Aug.,’83.
4
Nassau*....... 100 500.000
72,500 M. A N.
6
7 May, ’83. 4
J
500.000 441,528
July,’83. 5
New Y o rk .. 100 2.000.
000
1,013,000
A J
North River
July, ’83.
350.000
95,186
O ct.,’83. 4
N. Y. County 100 200.000
45.200 r. & j
a
'July,
’83.
4
Pacific..___
200.000 371,472 2Ó
July, ’83. 7
N. Y.N. Ex.JlOO 300.000
93,800 ?. & A.
7 Aug.,’83. 3^2 Park............
200,000
82,276 12
July, ’83. 5
N in th ...___ 100
750.000 212,500 r. a j .
7 'July,’83. 3^2 Peter Cooper
150.000 204,945 18
July,’83. 6
N. America*! 70 700.000 224,600 r. & j .
P eopled. . . . .
6 .July, ’ 83. 3
200.000
100,724 11
July,’83. 5
North Riv’r* 30 240.000
69.200 r. & j .
Phenix (})___
1.000.
000
7 V J u ly ,’83. 4
609.963 10
July, ’83, 5
Oriental*... 25 300.000 276.000 r. a j .
Rutgers’
.......
July,’83.
5
200,000
155,018
20
Aug.,’83.
5
Pacific * . . . . 50 422,700 241,800 Q .-F .
Aug.,’ 83. 2^2 Standard .. .
200,000 133.857 12-46
July,’83.
3 1«
P ark........-. JlOO 2, 000,000 1,247,100 r. & j .
Star..............
July,’83.
5
500.000
18.122
10
J
u
ly
,’81.
4
People’s*. . . I 25 200.000 119,700 r. a j .
Sterling.......
July,’83. 5
350.000
22,107
Aug.,’80. 3*a
Phenix___ _ 20 1,000,000 248.400 r. & j .
July,’83.
3
Stuyvesant..
200.000
145,703
July,’83.
5
Produce*.. . | 50 125.000
4,200
July,’74. 3*2 Unit’d States
250.000 236.949
July,’83. 5
Prod. Exch.
1 , 000,000
Westchester.
300.000 190,705
July,’83. 5
Republic___1100 1.500.000 853.700 F. & A.
W’msbg C. (t)
Aug.,’83. 4
250.000 428,578
July, ’83.10
St. Nicholas*,100 500.000 334.700 J. & J.
July,’83^ 4
Seaboard
500.000
31,4001............
Seventh W’d 100 300.000
88,100 J. & J.
¿an., ’82. 3
Second........ 100
300.000 161.800!J. & J.
July, ’83.10
* Over all liabilities, including re-insurance, capital and scrip,
Shoe A L’thrilOO 500.000 209.300 J. & J.
8
8
July,’83.
4
S ixth .......... 100
200.000
52,700 J. & J.
6
6 July,’83. 4
t Surplus includes scrip.
State of N.Y* 100 800,000 493.300 M. A N.
7
7*2 May,’83. 4
Third______ 100 1 , 000,000 343.100 J. A J.
(Î) Brooklyn.
*
7 - 7 July,’83. 3*2
Tradesmen’s 40 1, 000,000 275.100 J. A J.
8
7 July,'83. 3*2
Union.......... 50 1.200.000 761.200 M. & N. 10
10 M ay,’83. 5
U. States ... 100 500.000 175.200
The fallowing companies have been omitted from 'the above
Wall Street. 50 500.000 101.700>J. & J,
5^
July,’83. 3^2
West Side*. . 100 200.000
"1,6001J. & J. 10
Jan.,’81,10
table, viz.: Importers’ & Traders’, Manhattan, and Tradesmen’s. These
t Oct. 2,1883, for National banks and Sent. 2 2 .1883, tor state hank-«
coiùpanîes have discontinued business and are now in liquidation.
.

M ONTHLY
Ja n .

E A R N IN G S

Feb.

Alabam a Great Southern—
..................................... (8 9 5 m .) .J
....................................... (295 tn.). J
1 8 8 2 .. . . . ............... . . . . . . . . . . . . . ( 2 9 5 m .) ..
1888......... .................................: . ( 2 9 5 m ) ..

Atchison Topeka A Santa Fe—

55.401
58,509
60.575
84,131

51,227
63,546
66,732
81,768;

OF

March. Aprii.
47,8291

62.49J

68,885
85,822

P R IN C IP A L

M ay.

June.

July.

R A IL R O A D S ,
Aug.

Sept.

$

45 344
58,259
57,005
72,625

44,145
52.304
54,853
77,781

40,821
51,731
54,496
72,176

47,525
5 : ,9s2
61,041
73,301

ö l , 701
68,187
73,794
90,219

eï.541
70.326
77,793
95,093

Oct.

$

67,563
80.875
88,674

1880.
............. (1.167 t o 1,540 m .) ..
481,103 478,331 654,090 696,966 677,863 747,012] 657,586 674,229 806,730 932,122
1881.
........................................................................(1.540
t o 1.789
m .) . . 948,479
743,268 558,481
902.303
1,197.550 1,006,633 1,000.640 1,155.869 1,263,023
1882............................. (1,789 t o 1,820 m .) .. 1,076,790 1,055,909 1,208.073 1,164.335 1,046.125
1,183,7«! 1,153,479 1,1:7,003 1.251,663 1,329,113 1,430,226
1883-.......................................... 0 ,8 2 0 m .J..
961,255 935,665 1,284,120 1,163,086 l,ls0 ,8 0 8 1,146,107 1,167,98' 1,263,900
Burlington Cedar Rap. A No.—
1880*................................ (4 9 2 t o 564 m .) ..
184,316 165,171 188,325 141,652 149.504 153.378 143,432 160,160 179.804 204.991
1881 .............. .
... (564 t o 589 m .) ..
167,750 124,509 148,551 184,680 165,630 205,912 174,351 209,112 2*1,801 221,748
1882 ..................................(620 t o 6 9 0 m .)..
252,823 225,630 224,107 178,304 199,278 211,257 198.276 - 224.920 261,439 300,155
1 8 8 3 .. .. . . . ..................... .............(690 m .) ..
197,402 187,001 252,913 218,252 208,672 216,616 195.9.-9 232,522 260,857
Central P acific1880
.............(2,861 t o 2,586 m .) .. 1.200,614 1,070,487 1,373,438 1,356,716 1,778,488
1,724,950 1.840.067 1,973.438 1,964,097 2.120,229
1881
............. (2,586 t o 2.775 m .).. 1,602,907
[1,/09,637 1.872,370 2,091,41 [ 12,159,311 !8,899,346 2,088.519 2,185,303 2.507,857
1882
............. (2,1-82 ro 3 167 m .). 1,889,469 1-154.^18
l,/20,675 1.969.737)2,054,687 2,342,298 2.229,105'2,«7« 648 2.350.557] 2,495,445 2,424,529
1883 a....... (3,199 t o 2,941 to 3,003 m .) .. 1,747,681 1,465,952,2,024,533
2,050,313 2,127,420 2,129,226 2,036,216 2,282,000 2,311,000
Chesapeake & O h io 1880..
. ............................. (430 m .) ..
202,335 198,681 222,762 221.559 199,443 214,255 238,236 259,110 247.303 211.820
1881
............................... (480 m .)..
162,540 184,389 228,481 227,343 252,235 241,185 225.006 262,858 247,144 236,399
1882 .................................. 480 i.q 512 m .) .. 208.746 179,053 215.445 267,454 257,040
271,382 316 787 381,454 332,219 351,310
1883
......................... . ....(512 m .) .. 251,970
253,4461 337,795 298,630 331,173 823,845] 335,20a 381,746] *355,797.
Chicago & Alton — .
1S|?.............................................(840 m .).
524,054 497.013 626.473 542,961 616.128 617,524 708.906 761.120 767.340 785.199
499,120 4<4,318| 529,915 558,1.0 548.556 635,860 676,205 769,751 774,71) ) 771,844
585,830 517,8971 588.701
564.860 559,577 617,251 702,615 856,398 912.C92 858,674
1 8 8 3 ..
.. . . . . . . . .. .
.(8 4 / m .) ..
646,387 557,383 686,695 600,877 646,730 687,507 731,504 *861,169 *902,955
Burlington A Cuincy—
8Q
8r-0 ...
'1Q
. . . . (1,8„7 tC 2.772 m .). 1,43? ,740 1 411,870 1,732,518 1.489.894 t .909,627 1,682,9566 ¡1,773,
.643 1,884.321 1,862.285 1 934,762
1881.
. . . (2,772 to 2,92 1 m .) . 1.307 918 1,034.821 1,418.149 1,574,071 1,670,456 ,2.083,80 .
35812,173,945'2]262,981 2,931.001
1§8|...........................(2.92 I t o 3,229 r a A . 1,658.834 ' >57,301 1,566,217 1.530,838 1.505.261 1,437,1642 1.888.;
1.625.1 08 2.086,858 2,186,400 2,270,444
....... ....................(3,229 o 3.241 m .).. 1,625,080 1,611,021 2,396,584 1,824,100 2,009,872
1.937,916
1,624,705 2,493,124
Chicago & Easteru Illinois—
1 8 8 0 . ...................(152 to 220 rad.
72,466
83,265
83,689 111.800
88,278
93.234 114.129 131.777 131,904 180,891
lu c i* ' ' ................... .
(220 to 230 m .) .
325 456 117.119 121,637 134 070 117,296 344,879 125.139 156,497 150.915 156,-57
3§È E
...........................(230 t o 240 m .)..
145.464 127.212 136,121
1*8,8-<1 146,779 132,601 151.763 170,380 172,215 169,579
139.941 113,301 139,986 123,037 127,511 143,205 126,354 159,187 155,537
Chicago M ilw aukee & St. Paul.—
1880
................................................<2.256
t<. 3.7 5 738.749
in.)-..
764,298
900.67« 871.041 1,134.-45 1,037,958 1,026.709 991.297 1,257.678 1,493,621
1 § 8 '........................... (3,775 to 3,951 m .) ..
990.848 «82,718 916,989 1,259 94 1.538.4911i.7ÿ9 812 l ,56«.704 1.678,36 1,644.670 1,59 ,053
188 2........ ................. (4.KH t o 4.455 ra.).. 1.434.537 1,376.377 1,561,386
1883*. . . . . . . . . . .........(4,455 to 4,550 m .) .. 1,359,000,1,258,000 2,044,000 ',5 7.569 ,627:933 1,6 9,431 1,464.927 1.545.198 1,950,710 2,250 975
1,072,000 2,034,000 2,023,000 1,829,000 1,851,000 2,221,000
Cliicago & Nortli western—
-1880...................
'%
„0 2.76 4 m ) . .
1.154.632 1 ,1 3 1 ,6 8 3 ! 1,361,705 1,294,578 .875.608 1,87 '.177 1,699,68611,767,939! 2,020,245 1,105.217
1881 ....................... A 2 ./T 8 to 3 018 m ) . . 1.240,667 913,205 1,17-'. 706 1.474,612
____ • ......... ..(3.100
iR lilfi to
f/k3.476
u Ariam .)..
\
•879.060,2.3116,440 1,983.01112.315,164:2 292,676 2341,097
1882..........
1.644.936 1,474,176 1,672,93 '.6ÖV741 2,)1í),947¡2,043.5!8 2,059.952 2,211,622 2.553,041 8,80 -.445
1^83 h
la sse ■ F
1,357.«->2l ' .311.3 -5 2 0<tñ 290 1 7 ‘ 4.37vl 15- 206‘>.214.021 180.631 2.403.459 2.567.00'i
A p p r o x im a t e tigiu-vs,
a August and September estimated.




b September estimated-

- Nov.
$
61,155
78,257
98,097

Dec.
$
61,661
86.897
94,779

Tota!.
$
643.921
789,372
856,724

903,728
847,215 8,556.975
1,303,385 1,458,752 12,584.508
1,849,312 1,458,640 14,773,304
189,330
202,180
278,429

193,419 2,053,482
232,812 2,259,038
v246,062 2,800,680

2.199,466 1.905;222 20,508,112
2.297,971 2,225,179 24.094.099
2,139, ¿59 2,020,819 25,602,757
240,795
235.585
300,732

218,009 2.674,303
203,562 2.706,762
253,356 3,334,978

696.776
672.380
749,915

543.723 7,687,228
646,812 7.557,741
701,066 8,215,495

1.837,860 1 552,018 20,454.494
1.816.133 1.905,420 21,176,455
2,199,421 2,027,060 21,550,804
128,597
137,473
162,008

128.981 1,299,001
153,113 1,640.451
135,782 1,774,085

1.472,088 1.397,309 13,086,112
1.562.598 1,854,269 17.025.461
2,072,973 1,964,709 20,386,725
1,855.622 1.477.902 19,416,009
2.019.037 1.855.476 *1,849.207
2,109,432 1,828,929. 23,977,863

MONTHLY EARNINGS OF PRINCIPAL RAILROADS— (Concluded).
Jan.

F eb .

M arcir» j A p ril.

M ay.

J u ly ,

A lii

S ep t.

Oct.

Nov.

Dee. 1T otal.

.

.

$
sChic. S t. P a u l M inn. & O m aha—?
$
$
$
$
$
■
$
$
5
342.894
312,173 3,122,095
1830.................. ..
193,827 173,078 259,783 - 259,208 232,146 218,093 236.99? 251,013 300,833 ' 342,052
432,615 4,021,961
392.921
257.785 158,595 251,649 201,211 350,125 404,562 383,202 370,897 373,370 379,029
1881 .....................
515,008 304,910 4,962,200
-1882*................. . (1,003 tò 1,147 m .).. 327,478 333,439 413,230 377,288 402,882 374,694 359,459 422,718 522,200 548,852
1 8 8 3 ........
..... .(1,150 to 1,170 ni.).
312,017 282,256 433,520 *419,535 452,363
444,333 495,019 *523,300
D e n v e r & R io G ra n d e—
349 196 3,478,067
1880.....................
124,759 126,92* 160,883 164,883 193,925 295,456 373,182 400,133 406,583 473,1533 408,562
681,385 0,244,780
-.1881...................... ..(551 to 1,062 m .).. 307,476 317,68c 398.493 433.111 514.767 581,229 548,284 606,193 620,613 665,687 -560,829
495,769 448,810 6,404,980
1882..,................. (1,066 to 1,160 m .).. 516,128 395,29; 516,316 550,280 593,922 545,444 523,165 578,443 599,191 642,213
TO18.000
1883»................. (1,160 to 1,302 m .). 1418,300 1433,401 1521,60U T573.700 T549.900
T552.30G 11582,000
'© e s M oin es *& F o r t -B odge—
40,061
35,280
401,925
47,519
35,657
30.225
24.601
51.450
20,939
1881.................... ................ (87m .)..
.32,880 85,86'
24,968
16,47
28,410 347,163
31,293 31,595
21,38!
32,002
25.617
24,790
28,242
23,56
1882....................
32,825
32.07a
35,375
40,102
23,183
20,044
36,795
28,920
25.22'
- 1883.......... ....... ..:.(Ì3 8 to 143 m.) .
22,669
20,018 21,573
<4East T enu . V a» & G a .—
236,150 266,298 302,714 312.422 312,683 305,314
1881.................... ................ (900 m.) .
1882 ...................
254.602 234,764 248,476 220,360 240,676 210,995 243,525 289,28'" 320,358 386,216 360,736 341,341 3,351,357
1883.................... ...(902 to 1,123 m .).. 323,241 312,522 339,151 273,322 2-3.157 304,897 311,784 362,564 *385,085
¿F lin t *fc P ere M arau ette—
148,924 1,599,348
152,082
1880 ...................
110,277 118,862 146,523 130,512 115,942 120,685 114.878 129,571 140,952 161,140
170,815 1,856,534
172,069
1881...................
131,503 119,681 158,161 171,400 162,520 160,058 137,514 152,951 153,482 166,380
206,170 2,161,952
203,442
167.548 163,883 196,814 188,569 175,113 160,2401 148,503 166,157 187,446 199,007
188?...................
1883*................... .................(3±7 m .).. 190,551 165,150 231,034 235,935 229,034 208,322 184,42'" 203,805 204.803
H a n u ib al & S t. J o se p h —
194.336 2,257,231
231,913
195,007
1831.................... . . . . . : ....... (292 m .).. 154,401 122.874 176,356 190,812 172,950 190,740 201.899 210,24'
216,194 273,410
255,634 2,419,000
1882.................... .................(292 m .).. 133,232 '160,325; 170,106 158,112 165.630 155,157 182,240 262,20G
182,088 177,765 243,179 203,011 194,685 106,514 179,929 259,755
1883....................
"I llin o is C en tral
373,182 8,304,814
783.120
1880.................... .(1,275 to 1,321 m .).. 595,212 613.80É 613.0081 535,732 ' 665,120 681.736 724,095 732,75! 806.831 880.211
763,475 8,586.397
m i...- ................ ............ ,.(l,S21.m .).. 631,281 524,491 557,7891 602,493 673,259 303,887 720,004 868.40' 828,841 815,238 737,218
879,080 759,804
729,643 8,905,312
1882.................... ............... (1,321 m .).. 746,741 697.274 686,228! 640,014 661,707 F52,345 756,834 847,37!
1883.................... .(1.321 to 1.330 m .).. 677,545 589,448 760,737 595,682 039,531 703,494 686,593 *797,856
-¿Indian a B loon i. &; W estern —
228,677 200,451
192,022 2,487,569
.(544 m .).. 185.65C 165,32f 192,085 203,677 200,004 199,348 199,125 272,114
-1881.... ............. «.......
281,140
264,735 208,577 2,740,227
201,88c 189,652 204.423 220,616 180,477 192,317 215.977 292.171
1882....................
248,142 302,931 268,801 215,913 -234,151 217,574 217.618 319,71;
1883*...................
-In te rn a tio n a l *fc G t. N orth ern —
275,330 254,597 253,354 1,958,594
95,676
96,208 113,254 147,58(
159.54c 140,21< ! 115,595 110,318
1880....................
*308,323 *303,000 *306,159 2,810,109
172,47( 216.127J 229,944 187,290 170.639 *172,004 *190,062 *253,491
1881.................... ..... (571 to 731 m .).
411,407
377,821 3,564,086
371,379
235,22c 210,784 266.006 254,390 262,111 ] 261,734 223.256 298,070
1882....................
..... .
342,138 293,546 321,129 273,294 200,412 270,568 269,0521 297,836
1883....................
L o k e E rie & W estern —
175,884
116,082 1,331,868
100,960
89,663 130,284 123,143 127,998
98,613
83,664 83.127
89,209
1880............................ (362 to 385 m .)..
118,594
108,118 1,405,453
108,370
86,980 105,958 196,398 102,605 144,904 124,459 167.164
1881..
. . . . . .................... (385 ra.).. 107,623
*133,698 *133,297 *124,475 1,492,276
1882...................
(385 m '.).. 126,703 100,069 99,168 110,056 d 124,670 112,363 *105,866 *109,715
.......
98,981
77,913 148,745
1883*................................... (385 m.).. 131,696 108,067 125,107 87,722
L o iiis v iilc & N a sh v ille —
949,185 9,491,844
1,000,326
953,080
1880
...... . (1,107 to 1,840 m .).. 674,455 575,035 612,593 563,883 055,014 976,230 772,537 827,089
1,002,950 1,065,223 1.153,779 11,344,862
1881
........... (1,840 to 2,074 m .).. 816.960 805,124 917,960 850,862 828,726 1,227,885 817,135 876,192
1,215.932 1,200,902 1,221,509 12,981,432
(2,028 m .).. 964,527 960.315 1,068,834 953,603 958.130 1,215,490 1,063,765 1,043,912
1882 e ......................
..... .
1883 b................ (2,028 to 2,066 m .).. ,118,735 1,014,807 1,141,337 947,450 1,082,348 1.090,706 1,124,776 1,251,127
M ilw a u k e e L a k e S. & W e st.—
41,255
427,752
40,125
48,734
34,067
24.833 33,251
37,772 30,346
28,614
34,211
35,902
1880
..... .
(205 to 250 m.)
66,682
635,659
73,397
64,654
59,931
39,078
31,332
36,755 46,848
48.669
52,065
"1881.............................(250 to 276 n i.)..
52,202
82,250 906,319
75,170
86,708
80,905
66,371
67,610 ' 75,512 73,156
65,437
77,606
70,009
S 1882............................(276 to 806 m .)..
96,200
84,805
87,265 81,835
64,593
79,086
1883*............. ............ (306 to 326 m .)..
65,381
84,185
"M isso u ri K a n sa s & T e x a s—
562,184
533,950 487,820 5.427,256
1881... . . .................. (880 to 1,100 m .).. 330,510 337,564 433,343 393,445 393,745 406,606 484,570 514.165
665,860 6,421,517
687,703
094,169
1882 ................... (1,100 to 1,296 m .).. 400,165 394,672 472,048 444,204 480,334 455,904 .482,334 625,423
1883
.......... (1,296 to 1,386 m .).. 554,049 484,424 634,901 512,042 575,685 550,331 590,049 710,418
M isso u ri P a cific—
633,839
550.569 602,446 6,673,294
388,681 895,413
.513,982
537,561. 589,470 607,998 .568,507 659,570
1881
............................................................¡(700
to 795
m .)..
730,669 8,038,194
860,525
781.258
-1882 ................................ (795 to 996 i n . ) . . 552.675 469,043 556,120 541,142 560,907 535,688 734,008 908,738
2
732,541 620,988 857,832 605.273 719,501 636,725 704,434 .953,517
.(996 m .).
1883
"Mobile & Olito—
287,373 2,273,623
7 264,714
251,368
.(506 m .).. 250,116 204,094 168,302 140,091 129,241 121,855 131,021 140,593
. 1880....................
258,812 2,408,220
2 256,924
262,986
.(506 m .).. 224,346 216,767 230,916 163,550 145.803 136,51" . 135,548 160,789
1 8 8 1 ...............
806,432 2,184,445
5 267,433
301,054
-159,“" “ 158,590 148,167 141,957 134,378 136,184 135,174 137,475
1882...................................... (528 m .).
1
......
215,971 168,004 184,603 128.867 141,734 122,916 134,464 *157,950
* 1 8 8 3 ................................ (52§ m .).
Nashville Chatt. & St. Louis—
191,017 2,193,807
9
190,912
196.809
181,905
218,470 199,828 179.213 164,888 172.353 155.827 162,736
1880... ............................. .... (508 m .).
187,079 2,246,216
8 188,935
109,033
189,479 203,102 220,823 195,655 177,209 106,690 166,203 185,320
1881............................ (508 to 539 m .).
210,676 2,102,857
6 201,712 202,668
170,753 174,974 177,330 167,393 154,163 136,704 186,495 189,787
1882............................ (539 to 550 m.)
197,388 195,262 206,164 101,435 171,079 170,661 195,468 216,658
1883.............. ....................(5 5 0 m .).
New Y ork Lake Erie & W est.—
7 1,899.910 1,797,338 1,726,788 19,489,866
1880......................... (928 to 1,009 m .). 1,296,381 1,252,218 1,644,958 1,643,151 1,592,544 1,661.812
0 1,814,866 1,715,469 1,571,208 20,393,112
1881
.......... (1,009 to 1,020 m .)., 1,443,437 1.425,765 1.847,281 l,709,05r 1,776,891 1.794,982
. 1,819,010 1,818,824 1,691,404
1882
... ....(1,020 to 1,060 m .).. 1,318,997 1,304,758 1,567,633 1,670,743 1,681,798 1,756,684
1883 f .................... (1,069 to 1,625 m .).. 1,5*4,869 1,283,616 1,696,969 1,548,474 2,055,988 2,057,547
New Y ork & New England—
198,108 2,896,302
2 215,491
210,850
164,231
1880
.......
(284
to 816
m .)., 149,908 183,845 179,H
183,700 219,891
240,064 2,809,943
3 261,200
240,764
1881.............................(316 to 394 m .).. 189,749 173,614 212,019 216,913 217,185 231,518
7 *310,145 *276,183 *261,082 3,408,169
213,840 217,261 265,222 261,044 289,722 285,392 ÜMÖ,4 4 1 1 34Ö .4H U
1882___ _ ___ >........ ......... (394m .)..
258,266 231,741 284,868 268,853 290,951 293,919 309,288 377,223
1883* ................................... (394m .)..
Norfolk & W est.—(At.M iss.& O .)181,746 2,064.194
6 235,910
209.010
...................
(428 m .).. 156,870 161,954 175,420 143,099 131,407 133,764 145,585 179,947
1880
205,699 2,267,288
8 246,530
228,995
164,917 155,633 195,650 174,438 149.803 156,889 173,374 196,122
1881..
. . ................................. (428m .)..
224,758 2,429,738
4 272,318 201,235
1882
(428m .).. 168,572 149,659 174,769 171,793 185,322 174,843 191,535 222.160
1
........
200,487 191,344 217,334 190,996 205,663 203,610 219,188 ‘ 261,711
1883
................ (428 to 502 m .).
Northern Central—
494,310 5,050,385
459,054
3 512,917
334,494 330,860 415.325 386,130 329,788 419,193 450,298 453,923
188 0 .. ..-............................. —,...(3 2 2 m .) . .
476,623 5,443,698
o 449,664 487,160
1881
..
(322 m .).. 386,156 882.657 452,906 487.273 465,588 487.287 440.811 498,008
5 550,225 ¿526,685 ¿490,003 ¿5,800,176
1882
....................... ...(322 m .)., 407.368 413,551 414,789 420.490 465,694 465,819 484,534 625,970
1883..................................... .(322 m .)., 499,252 486,865 506,805 476,335 499,133 476,164 474,524 -587,272
Northern Pacific—
220,993 2,630,084
7 358.456 300.822
1880
....................................(722m .).,81,390 77,259 119,358 180,074 217,613 253,105 247,020 228,777
391,286 4,070,224
2 570,724 475,611
1881............. ........ . (722 to 972m .)., 116,508 75,803 162,984 216,210 312,705 412.024 393,252 434,085
530,453 0,983,714
769,994
8 829,831
245.369 268,935 373.141 451,023 616,231 704,617 694,067 727,215
1882
..............(972to 1,419 m .).
358,985
1883
........................................(1,535
to 2,365328,158
m .).
563,903 660,412 789,946 : 829,657 850,223 1,043,024
Pennsylvania—
(A ll lines east o f Pittsburg & E rie)=3 3,882,714 3,574.913 3,517,828 41.200,068
1880..
........(+1,806 to 1,820 m .)., 3,083,551 2,944,576 3,278,186 3,488,366 3,417,910 3,221,476 3,449,644 3,723,355
e 3,672.971 3,840,215 8,731,751 44,124,178
1881
........ (+1,844 to 1,887 m.) . 3.189,215 3.095;614 3-,844,304 3,760,372 3,856,897 3,807,437 3,780,418 3,809,978
2 4,660,054 4,373,825 4,157,169 49,079,826
1882..................... (+1,887 to 1,981 m .). 3,373,321 3.306,750 3,912,293 3,855,850 4,108,877 4,093,756 4,149,150 4,671,179
1883
(+1,981m .).3,929,35'* 3,712,215 4,189,380 4,061,750 4,303,000 4,156,871 4,130,950 4,775,380
(Philadelphia & Reading—
>0 1,740,29« 2,184,226 1,354,031 18,431,847
1,282,835 1,581,813
•1880........................................(846 m .). 1.316,089 1,085,162 J,4»9,889
H 1.989,946 ' 2,015,589 1,850,889 20,776 101
1,835,725! 2,000.980
1881
...................................(846m1,
.). 19,133 1,336,428 1,600,568:
7 2,229,518 2,256,749 1,795,371 21,334,598
. 1 8 8 2 .................. . ................. (846m.). 1,503,075 1,290,421 1,610,089 1,709,712 1,703,409 1,714,73C 2.026,459¡1,975,993
18835................... . .(846 to 1,419 m .). 1,608,775 1,453,862 1,669,241 1,720,616 1,690,877 2,810,489 2,979,094 3,538,033
S t. L . Alt. <&T. H . Main L in e 101,950 1,417,662
116,695
)6 143,881
1880..........
(195 m .). l 96,922 108,988 113,518 108,434' 95,847 105,837 138,153 150,727
96,935 * 1,424,803
105,506
14 131,69''
188L .................................... (195m .).
104,577 101,826 132,572 133,337 121,937 121,990 118,844 125,592
124,621 1,506,686
155,334
L7 162,998
*1882.,........................................... (1&5m .;.107,227 102,153 101,747 97,965 102,923 99,083 130,986 166,637
123,454 115,471 126,024 103,045 101,480 85,550
99,422 123,081
1883*..........
(195 m .).
" S t . L . A lton -& T . H . Branches—
729.078
82,553
72,074
19 77,985
66,032
56,218 54,750
1880...... .................;... (71 tol2 1 m .).
55,476
52,082 44,370 52,924
47,028
756,024
74,192
64,28«
14 72,641
46,549 63,588
71,148 64,186
50,132
1881.. ............. ... ............ .(121 m .).
50,240
68,565
64,110
875,480
75,355
72,817
15 91,35C
88,327
1882
................................... (121m .). 66,950
56,092
52.948 73.641
75,802
67,436 70,947
......
70
71,440
71,892
54,720
63,566 ,80,951
57,048
1883*............. ......... (121 to 138 m .).
60,914
58,976
St. Louis Iron M t. & Southern—
25 *719.23« *687,280 *709,498 7,337,069
570,957 560,791 704,002 546.302 479,075 474,302 533.512 644,386
18el............................(686 to 718 m.).
781,305 7,581,635
843,973
50 809,394
516,370 501,127 585,008 579,978 519,120 529,700 515.519 675,981
1882....... .............. ;.(7 1 8 tò 816 m .).
n
665,258 522.781 632,228 544,786 558,788 554,559 585,890 747,710
' 1883*.........................(816 to 905 m .).
- St. Lapis & San Francisco226,068
2.698,371
290,32«
73 328,194
193,091 195,948 193,140 176,164 167,664 173.607 213,297 259,995
1880.............................(492 to 597 m .).
300,166 8,160,523
276,550
53 3!6,10(
3881.............................(597 to 661 m .).
208,547 178,599 269,963 269,507 274,086 268.589 252,889 281,802
313,205 3,572,241
333,026
34 369,00(
.3882......................... .....„...(6 6 1 m .).
254,040 240.189 271 323 234,496 252,960 238,721 330.914 394,907
76
.....
278,321 236,278 351,
-1883*............... ..... (725 to 730 m .).
274,011 290,756 259,9171 280,020 369,520
S i. Paul Minn. «fc Manitoba.—
297,640 3,100,229
38 345,05"? 300,67C
1880
..
(630to 855m.).
180,239 137,645 261,797 333,014 281,899 243.407 272,089 232,579
528,26c 4.878.958
508,53C
36
605,706
1881
.....................
(855
.).
254,187 m159,482
320,962 425,685 382,642 405,321 387,488 414,954
753,51( 8,764,771
913,334
76 979,05"
1882....................... ..(912 to 1,020 m .).
395,461 418,358 531,004 570,890 858,903! 856,417 853,296 801,759
04
......
1883.................. . .(1,250 to 1,324 m .). 489,763 389,612 729,813 812,017 ■727,499 763,838 612,766 629,613
•Texas & P acific301,851 2,754,40S
70 303,66
812.181
245,785 219,165
1880
............................................................(444
to 700 m
.).
215,070
' 174,177 141,083 153.066 195,711 226,073
401,05 3,909,005
90 419,20
809,52]
281,176 260.781 319,928 295.066 281,783 285 305 328,063 381,331
1881................. ....... .. (700 to 982 m .).
641,044 «5,143,170
40 541,90
619,651
278,535
823,987 ..(982
1882
........................................ .................
to 1,412
m.). 368,752 421,219 .397,253 379.451 452,153
343,442
68
.....
534,529 416,040 526 901 406,180 496,078 456.226 537,743 546,556
1883....... . . . ............(1,412 tol,487 m .).
-Wabash St. Louis & P acific50 1,501,20 3 1,131,78 1050,810 12,428,112
776,790 759,451 978,029 892,02c 948,773 953.408 1,080,742 1.189,478
1890.......... ...........(1,558 to 2,479 m.),
46 1,406,02 9 1,372,36 1,294,05 14,407,789
865,389 813,374 1,109,399 967,033 1,148,669 1,330,944 1,120,615 1.542,124
1881.......... ..... .... (2,479 to 8,350 m .),
82 1,595,630 1,525,71 5 1,331,95 2 16,738,358
08*9*............. . . (8,348 to 3,518 m ), 1.229,965 1,184.768 1,313,775 1,878,194 1,204,864 1.149,682 1,418,837 1,772.544
82
......
1883*. ....... ........................ (3.518 m.) 1,307.783 1.070,758 1,479.236 1.163.654 1.213.946 1.148.418 T 216.409! 1.779>'41
T Not incl.constr’n m aterial.
•Approximate figures.
+ And 66 m iles o f canal.
§ Includes Central o f N. J. earnings from and after June, 1833.
____
__________ _ . c June, 1882,figures (aswell as
a Embracing eorrect’ns found necessary after monthly totals had been published.
b Sept. figures are
approximate.
ia for June
T n u o in
in n
n n r t o d i n r f VI a.Pfi)
n P .)lld A 9 m
ifin o llfi.n o m i a P
O r t h in io ffo
o nr the u
T h n iA n-P
l i c fiscal year ended with that month. Since that tim e these receipts
those
preceding-y<
ars) iincludes
miscellaneous
receipts
whole
o f fthe
have been added to each m onth’s earn’gs, and thus distributed evenly through the year.
d Incl. $26,634 of m iscellaneous receipts.
6Not inch union tvtt.
/I n d u e e a r n in g s o f Ni-Y'. Pennsylvania & Ohio from and after May, 1383.
'
»
*
„




October , 1883.]'

INVESTORS’ SUPPLEMENT.
IN D EX

TO

NAMES

OF

83

RAILROADS:

For reference to the former name of any company that has been consolidated or reorganized the following is prepared:
FORMER NAME.
WILT. NOW BE FOUND UNDER—
FORMER NAME.
WILD NOW BE FOUND UNDER—
Alabama & Tennessee River............Selma Rome & Dalton.
Leeds & Farmington. — ..... .......... .Maine Central.
Alabama Central . ..... ..................... East Tenn. Virginia & Georgia.
Lehigh & Wilkesbarre Coal Co......... Central of New Jersey.
Allegany Central.............................. Lackawanna & Pittsburg.
Lexington & Southern.......................Missouri Pacific.
American Dock & Improvem’ t Co.. .Central of New Jersey.
Louisiana & Missouri....................... Chicago & Alton.
Androscoggin & K ennebec............. Maine Central.
Louisiana Western........... .................Texas A New Orleans.
Arkansas Valley......... ........ . . . . ____Denver & Rio,Grande.
Louisville Cincinnati & Lexington. .Louisville & Nashville.
Atchison & Nebraska............. .......C h ica g o Burlington & Quincy.
Louisville N. Albany a St. Louis. : . .Louisville Evansville & St. Louis.
Atchison & Pike’s Peak.................. .Union Pacific, Central Branch.
Lynchburg & Danville.......................Wash. City Va. Mid. & Gt. Southern
Atlantic & Great Western___. . . . . . .New York Pennsylvania & Ohio.
Macon & Augusta.. ....................... Georgia RR. & Banking Co.
Atlantic & G u lf.................................Savannah Flòrida & Western.
Macon & Western............................ Central Railroad & Bank Co., Ga.
Atlantic Mississippi & O hio............. Norfolk & Western.
Marietta & Cincinnati...................... Cincinnati Wash. & Baltimore,
Atlantic & Pacific........... .......... .......St. Louis & San Francisco.
Marietta Pittsburg & d e v e ............. Cleveland & Marietta.
Baltimore Short-Line....................... Marietta & Cincinnati.
Massawippi. ............. ........................ Connecticut & Passumpsic.
Bay City & Saginaw ..........................Flint & Pere Marquette.
Memphis & Ohio......... .......................Louisville & Nashville.
Beloit & Madison............................. .Chicago & Northwes
Menominee River..... ........................ Chicago & Northwest.
Boston Clin. Fitch. & New B ed.... .Old Colony.
Metropolitan Elevated.......... ........... Manhattan Elevated.
Berks Couhty......................................Philadelphia & Reading
Michigan Air-Line.............................Michigan Centrai.
Boston Hartford & E rie.......... .......,New York & New England.
Michigan So. & North’n Indiana.......Lake Shore & Michigan Southern.
Buffalo & Erie....'...............................Lake Shore & Michigan Southern.
Midland of New Jersey.-...................New York Susquehanna & Western.
Buffalo Pittsburg & Western..........Buffalo New York & Philadelphia.
Milwaukee & Western ....................... Chicago Milwaukee & St. Paul.
Burlington & Missouri................ . .Chicago Burlington & Quincy.
Minnesota Central.. J............. ..........Chicago Milwaukee & St. Paul
j Minnesota V alley..................... . ....... Chicago & Northwest.
Cairo Arkansas & Texas...................Missouri Pacific.
I Missisquoi........ ................................... Vermont & Canada.
Cairo & Fulton.......... ....................... •.Missouri Pacific.
, Mississippi Central............................ Chicago St. Louis & New Orleans.
California O regon......................... Central Pacific.
Missouri River Fort Scott & G u lf.. .Kansas City Fort Scott & Gulf.
Camden & Amboy..... .........................United Companies of New Jersey.
Missouri River R R .......... ..........1___ Missouri Pacific.
Cape May & Millville....................... West Jersey.
M ontclair............. ..............................New York & Greenwood Lake.
Central Branch Union Pacific.......... Central Branch Union Pacific.
Monticello & Port J ervis........ ......... Port Jervis& Monticello.
Central of Long Island......................Flushing North Shore & Central.
Nashua & Rochester..........................Worcester & Nashua.
Central Vermont................................Vermont Central.
Newark & New York........................ Central of New Jersey.v
Cham. Havana & West.......................Wab. St. Louis & Pacific.
New Jersey Midland.......................... New York Susquehanna <& Western.
Charleston & Savannah...................Savannah & Charleston.
New Mexico & So. P acific.................Atchison Topeka & Santa Fe.
Chicago Cincinnati & Louisville___Wabash St. Louis & Pacifie.
New Orleans Jackson & G. N______ Chicago St. Louis & New Orleans.
Chicago Clinton Dubuqé& Minn___C. M. & St. Paul.
New Orleans Pacific..................... ...Texas & Pacific. >
Chicago & Great Eastern................ Columbus Chic. & Indiana Central.
New York Elevated............., ............ Manhattan Elevated.
Chicago & Illinois R iver....................Chicago & Alton.
New York & Oswego Midland..........New York Ontario & Southern.
Chicago & Michigan Lake Shore. . . .Chicago & West Michigan.
New
York & Rockaway........ ............Long Island.
Chicago & Milwaukee........ ............. .Chicago & Northwest.
Newtown & Flushing....................... Long Island.
Chicago & Springfield...................... Illinois Central.
Niles
& New Lisbon..... .....................Cleveland & Mahoning Valley.
Chicago & Southwestern....................Chicago Rock Island & Pacific.
Norfolk & Petersburg.........................Norfolk & Western.
Chicago St. Louis & New Orleans...Illinois Central.
North
Missouri................................. .Wabash St. Louis & Pacific.
Chic. St. Paul & Minn....................... ."Chic. St. Paul Minn. & Omaha.
North Wisconsin................ ................Chic. St. Paul Minn. & Omaha.
Cincinnati & Baltimore....................Cincinnati Wash. & Baltimore.
Northwestern North Carolina......... Richmond & Danville.
Cincinnati & Chicago Air-Line........ Columbus Chic. & Indiana Central.
Northwestern Union......................... Chicago & Northwest.
Cincinnati & Indiana................ .— Cin. Indianapolis St; Louis & Chic.
Northwestern Virginia..................... Baltimore & Ohio.
Cincinnati Lafayette & Chicago.......Cin. Indianapolis St. Louis & Chic.
Clayton & Theresa..... ........................Utica & Black River..
Oakland & Ottawa River.................. Detroit Gr. Haven & Milwaukee
Cleveland Mt. Vernon & Delaware..Cleveland Akron & Columbus.
Ohio & West Virginia........................ Col. Hocking Valley & Toledo.
Cleveland Painesville& Ashtabula..Lake Shore & Michigan Southern.
Oil Creek.
................... .................Pittsburg Titusville & Buffalo.
Cleveland & Toledo................... ........Lake Shore & Michigan Southern.
Omaha & Southwestern....................Burlington & Missouri in Nebraska
' Col. Chicago & Indiana Central.......Chicago St. Louis & Pittsburg.
Ontario Southern..... ....... .................Lake Ontario Southern.
Columbus & Indiana Central............Columbus Chic. & Indiana Central.
Orange & Alexandria........................ Washington City Va. Mid, & Qt. So.
Columbus & Indianapolis Central...Columbus Chic. & Indiana Central
Ottawa Oswego & Fox River........... Chicago Burlington & Quincy.
Columbus & Toledo................ ...........Col. Hocking Valley & Toledo.
Pacific o f Missouri........................... Missouri Pacific.
Connecticut Western.........................Hartford & Connecticut Western.
Paducah
& Elizabethtown___.......Chesapeake Ohio & Southwestern.
Covington & Lexington....... .
Kentucky Central.
Pekin Lincoln & Decatur....... ......... Peoria Decatur & Evansville.
Peninsular
(Mich.)............................. Chicago & Northwest.
Dakota Southern........ . ..................... Sioux City & Dakota.
_
Peoria Pekin & Jacksonville............Wabash St. Louis & Pacific.
*
Danville & Vincennes................... . Chicago & East. Illinois.
Pittsburg
Titusville
& Buffalo.......... Buffalo Pittsburg & Western.
Davenport & Northwest..................Chicago Milwaukee & St. Paul.
Pleasant Hill & De S oto........ .>..... .Atchison Topeka<&Santa FeDecatur & East St. Louis. — : ........ Wabash St. Louis & Pacific.
Pomeroy
&
State
Line.......................Pomeroy
<fc Newark.
Denver P acific...................................Union Pacific.
_
Port Huron & Lake Michigan. . . . . . . Chicago & Lake Huron.
Detroit & Bay City............................ Michigan Central.
Portland & Kennebec.. . . ............. .. .Maine Central.
Detroit & Eel River.......................... .Eel River.'
Detroit & Milwaukee A .....................Detroit Grand Haven & Milwaukee Prairie du Chien................................ Chicago Milwaukee & St. Paul.
Pueblo & Arkansas V alley..............Atchison Topeka & Santa Fe.
Detroit Monroe & Toledo, i ........— Lake Shore & Michigan Southern.
Detroit & Pontiac............................ Detroit Grand Haven & Milwaukee Quincy Alton & St. Louis............ Chicago Burlington & Quincy.
Dixon Peoria & Hannibal............... Chicago Burlington & Quincy.
•Quincy Mo. & Pacific............... . ........Wabash St. Louis & Pacific.
Dubuque Southwestern............Chicago Milwaukee & St. Paul.
Quincy '& Palm yra............................ Hannibal & St. Joseph.
Quincy & Toledo............................... Wabash St. Louis & Pacific. '
Easton & A m boy.......... ............... Lehigh Vailey>
.................. Chicago Burlington & Quincy.
Quincy & Warsaw
Elizabeth City & Norfolk.................. Norfolk & Southern.
E sse x ----. .. . . . . — ......,. r — 1____ .Eastern (Mass.)
Republican Valley ............................Burlington & Missouri inNebraaha,
Evansville & Crawfordsville............Evansville & Terre Haute.
Rochester A Northern Minnesota ...Chicago &-Northwest.
Evansville Henderson & Nashville. .Louisville & Nashville.
St. Joseph & Denver City .................St. Joseph & Western.
Flint & Holly...................................... Flint & Pere Marquette.
St. Joseph & P a c ific ..» ....................St. Joseph & Western.
Morence El Dorado & W . ........ .. Atchison Topeka & Santa Fé.
St. Louis Iron Mount’n & Southern.Missouri Pacific.
Florida Central---- « .......... ................Florida Central <fc Western.
St. Louis Jacksonville & Chicago___Chicago & Alton.
Framingham & Lowell........ . ........... Lowell & Framingham.
St. Louis Kansas & Arizona............. Missouri Pacifie.
Frankfort <fc Kokomo........................ Toledo Delphos & Burlington.
St. Louis Kansas City & Northern...Wabash St. Louis & Pacific.
St.
Louis & Lexington.......................Missouri Pacific.
Galena & Chicago U nion.................. Chicago & Northwest.
St. Louis Rock Island & C................. Chicago Burlington & Quincy.
Grand Rapids New & L. Shore........ Chicago & West Michigan.
St.
Louis
& Southeastern.................. Louisville & Nashville.
Grand River Valley........................... Michigan Central.
St. Paul & Chicago........ ....................Chicago Milwaukee & St. Paul.
Great Western (IH.)........ - ................Wabash St. Louis & Pacific.
St. Paul & Pacific......................... .St. Paul Minneapolis ■&Manitoba.
Green Bay & Minnesota................... Green Bay Winona & St. Paul.
St. Paul & Sioux City........................ Chic. St. Paul Minn. & Omaha.
Greenville & Columbia..................... Columbia & Greenville.
St. Paul Stillwater & T. F .................Chic. St. Paul Minn. & Omaha.
Hannibal & Central Missouri.......... Missouri Kansas & Texas.
Sandusky
City & Indiana..................Cincinnati Sandusky ¿Cleveland.
Hannibal & Naples............................Wabash St. Louis & Pacific.
Sandusky Dayton & Cincinnati.......Cincinnati Sandusky & Cleveland.
Harlem & Portchester.......................New York New Haven & Hartford.
Savannah
Albany & Gulf.......... ........Atlantic & Gulf.
Hastings & D akota............. . — . . . .Chicago Milwaukee & St. Paul.
Savannah & Charleston....................Charleston & Savannah.
Holly Wayne & Monroe.................... Flint & Pere Marquette.
Schoolcraft
& Three Rivers...............Lake Shore & Michigan Southern«
Holyoke <k Westfield.................. .
.New Haven & Northampton.
Scioto & Hocking V alley...................Marietta & Cincinnati.
Houston & Great Northern...............Missouri Kansas & Texas.
Sioux
City
&
Dakota..................... ».Chicago Milwaukee & St. Paul.
Hudson & River F a lls............. .
. Chic. St. Paul Minneap. & Omaha. Sioux City & St.
P au l........................ Chic. St. Paul Minn. & Obama.
Illinois Grand Trunk. ; ..................... Chicago Burlington & Quincy.
Smithtown & Port Jefferson . . . . . . . .Long Island.
Illinois & Southern I o w a .......... ........Wabash St. Lotus & Pacific.
South Pacific (Mo.)............. «*'...........St. Louis & San Francisco.
Indiana & Illinois Central................ Indianapolis Decatur & Springfield South Side, (L. I.)................................Brooklyn & Montauk.
Indianapolis & Cincinnati
......... Cin. Indianapolis St. Louis & Chic.
South Side (Va.).................................. Norfolk & Western.
Indianapolis Cin. & Lafayette........ Cin. Indianapolis St. Louis & Chic.
Southern Georgia & Florida............. Savannah Florida & Western,
International & Great Northern___Missouri Kansas & Texas.
Southern Minnesota......................... Chicago Milwaukee & St. PauL
Ionia & Lansing. —
........ . . .Detroit Lansing & Northern.
Stanstead S. & Chambly.................. Vermont Central.
Iowa City & Western........................ Burlington Cedar Rapids & North’n. Steubenville & Indiana.....................Pittsburg C. & St. Louis.
Iowa & Dakota...................................Chicago Milwaukee & St. Paul.
Tebo & Neosho:................................Missouri Kansas & Texas.
Iowa Midland............. ....................... Chicago & Northwest.
Toledo & Illinois............. .................. Wabash St. Louis & Pacific.
Iowa &"Minnesota......................... .Chicago Milwaukee & St. Paul.
Toledo Logansport & Burlington___Columbus Chic. & Indiana Central
Iowa South. & Missouri North........ Chicago Rock Island & Pacific.
Toledo Peoria & Warsaw.................. Wabash St, Louis & Pacific.
Toledo & Wabash............................. Wabash St. Louis & Pacific.
Jackson Lansing & Saginaw.......... .Michigan Central.
Union.. ; ..........., ............ . . ................ Northem Central.
Jamestown & Franklin.....................Lake Shore & Michigan Southern
Union & Logansport..................... ...Columbus Chic. & Indiana Centred.
Johet & Chicago . . ............................Chicage & Alton.
Union
& Titusville............................. Pittsburg Titusville & Buffalo.
Kalamazoo Allegan & Gr. Rapids . .Lake Shore & Michigan Southern
Utah Southern___. . . . . ..................... Utah Central.
Kalamazoo & Schoolcraft.................Lake Shore & Michigan Southern,
Vermont
& Canada.......... ............... Consolidated Vermont,
Kalamazoo & South H aven.............. Michigan Central.
Vermont Central.............................. Consolidated Vermont
Kalamazoo & White Pigeon . . . . . . ..Lake Shore & Michigan Southern.
Virginia
Central..................
..........-.¡Chesapeake & Ohio.
Kansas City & Cameron........... . . . . .Hannibal & St. Joseph.
Virginia & Tennessee........................Norfolk & Western.
Kansas City & Eastern...'................ Missouri Pacific.
Wabash
&
Western............................Wabash
St. Louis & Pacific.
Kansas City St. Jos. & Council B __.Chicago Burlington & Quincy.
Waco & Northwest___, ..................... Houston & Texas Central.
Kansas City St. Louis & Chic______Chicago & Alton.
Wallkill
Valley..........
..................
.
.Lehigh
&
Hudson River.
Kansas City Topeka & Western. . . . . Atchison Topeka & Santa Fe.
Washington City Va. Mid. & Gt So. Virginia Midland.
Kansas & Nebraska............. .............. St. Joseph & Western.
West
Chester
&
Philadelphia..
_
_
Philadelphia
& Baltimore Central.
Kansas Pacific........ ........ — ............ Union Pacific.
West Wisconsin...................._______ Chicago St. Paul & Minneapolis*
l i ackawaima & Bloomsburg........... Delaware Lackawanna & Western. Western Pacific....................... . . , Central Pacific.
Lafayette Bloomington & Muncie.. .Lake Erie & Western.
Western Union Railroad.......... .....Chicago Milwaukee & St. Paul.
Lake Erie Wabash & St. Louis.......... Wabash St. Louis & Pacific.
Wichita & Southwestern................. .Atchison Topeka & Santa Fe.
Leavenworth Atchison & N’west___Missouri Pacific.
Winona <fc St. Peter......................... . .Chicago & Northwest.
Leavenworth Lawrence & G alv.....K ansas City Lawrence & Southern
Wisconsin Valley.. . . ....................... Chicago Milwaukee & St. Paul




T H E

Commercial and Financial Chronicle,
AND

H U N T ’S M E R C H A N T S ’

MAGAZINE,

THE

I nvestors’ Supplement ,
B F M O \ T H L l.

The best financial and commercial Paper issued in this country.”
Foremost in editorial discussions and in practical information.
T£he following are the principal features of the Chronicle and S upplement :
1.
— E d ito ria l.— The editorial articles of The C h r o n i c l e are prepared with great care hy capable
writers on the several subjects represented, and are intended to give sound, temperate and unprejudiced
views upon all topics of finance., commerce and political economy.
2
—L o n d o n C orrespondence.— A weekly letter by one of the distinguished financial writers
of London, connected with a leading journal of that city.
3.
— B a n k in g .— The C hronicle is essentially a Banker’s newspaper and Becord of financial intel­
ligence. The editorial discussions, National Bank reports, City Bank returns in fullr trustworthy money
article, numerous tables of prices and statistics, and the extended information about all kinds of stocks and
bonds, have marked T h ; C hronicle as a journal- which ought to be in the hands of every banker m the
“

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country.

.— Stocks, B o n d s and In vestn ien ts.— The most complete Stock and Bond Lists ever
published are issued in a Bi-monthly Supplement to The C hronicle , furnishing every detail in regard to
each issue of State, City, Bailroad and miscellaneous stocks and ^ bonds, with remarks upon
the financial affairs of each State, City and Company. This Supplement is furnished gratis to all regular
Subscribers of Th ■ C hronicle . Extended information is also given from week to week bearing
upon the value of these different securities as investments,*and indexed in the remarks of the Supplement.
5 ,— R ailroads.—Bailroad intelligence, particularly that of a financial character, is made a specialty
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opposite the respective 'Companies in the tables of the Investors’ Supplement* so that subscribers possess
in their current file a complete record of railroad news, indexed for reference.
O.— Cotton.—A complete weekly review of the Cotton Trade, with all statistics of the mo'^emen
in this great staple, both in the home and foreign markets, is published weekly. The C h r o n i c l e is recog­
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quoted throughout this country and Europe;
7\—B read stuffs.— A weekly'review is given of the market* and full statistics of the Trade at
home and abroad. Our London Letter has become a well-known authority on Breadstuff's, and is largely
quoted throughout the country.
*
8, —D ry Goods.—A weekly review of the wholesale trade.
9.
—C o m m e rc ia l and F in a n cia l S tatistics— “ Hunt’s Merchants’ Magazine,” known fo
many years as the leading magazine of its kind in this country, was merged in The C hronicle m January
1871, and all its valuable statistics are perpetuated in the files and bound volumes of The C hronicle .
The exports and imports of merchandise and specie, movements of breadstuff's and domestic produce,
and other important tables of Trade statistics, are published regularly.
tO.—F iles kept and V olu m es B o u n d .— The C h r o n i c l e is published. weekly on
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at the end of each six months.
T e r m s o f A d v e rtis in g :

T e rm s o f S u b s c r ip tio n :
T he Commercial

and

F inancial Chronicle, including '•Investors’

Supplement: ”
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