Full text of Commercial and Financial Chronicle : October 28, 1922 : Electric Railway Section, Vol. 115, No. 2992

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ELECTRIC RAILWAY
SECTION
COMMERCIAL & FINANCIAL CHRONICLEz
OF THE

Copyrighted in 1922 according to At of Congress. hv WILLIAM B.DANA COMPANY,in office of Librarian of Congress, Washington.D.C.

Vol. 115.

NEW YORK, OCTOBER 28, 1922.

No. 2992.

means that registered certificates without coupons as well as
coupon bonds are outstanding. The letters "p.m." mean
The Electric Railway Section, issued twice a year, on the last Saturday per mile, thus $15,000 p.m. means that the issue of bonds is
In April and October, Is furnished without extra charge to every annual
restricted to $15,000 for each mile of track. "Guar." means
subscriber of the Commercial & Financial Chronicle.
The Railway and industrial Section, issued twice a year on the last guaranteed, and "guar. p. & i. (end.)" means guaranteed as
Saturday of May and November, is also furnished without extra charge to
to principal and interest, the guaranty being endorsed on
every annual Chronicle subscriber.
The Railway Earnings Section, issued monthly, containing the sworn each bond. "Red." means redeemable. "Trus." or "tr."
returns of earnings and expenses of the steam railways of the United States
filed each month with the Inter-State Commerce Commission, is likewise means trustee of the mortgage.
furnished without extra charge to every annual Chronicle subscriber.
TAX EXEMPTION.—Where there is a provision in bond
The State and City Section, issued semi-annually on the last Saturday
if June and December. is also furnished without extra charge to every annual or mortgage which would seem to make the interest free from
subscriber of the Chronicle.
the Federal income tax, we indicate the fact in black-faced
The Bank and Quotation Section, Issued monthly, is also furnished
letters—tf meaning tax-free. The Revenue Act of 1918
without extra charge to every annual subscriber of the Chronicle.
The Bankers' Convention Section, issued yearly, giving the detailed (approved Feb. 24 1919) provides, however, that only one
proceedings of the annual convention of the American Bankers' Associanormal 2% income tax shall be deducted at the source and
tion, is likewise furnished without extra charge to Chronicle subscribers.
Terms for the Chronicle. Including the six supplements above named, that all further Federal income taxes
shall be met by the
are Ten Dollars per annum within the United States, $13.50 (which includes postage) in Europe, and $11.50 in Canada.
recipient of the income. See terms of Act in V. 107, p.
File covers for the Chronicle are sold at one dollar each. (Postage 15
cents additional.) File covers for Supplements can be had at same price. 518, 619. Where there is no tax covenant we insert the
letters ntf, meaning not tax-free. tff means free from
-19 South La Salle Street.
CHICAGO OFFICE.
normal Federal income tax up to 4%. Where we have no
LONDON OFFICE.—Edwards & Smith, 1 Drapers' Gardens, E. C.
knowledge other than that the company has assumed or is
WILLIAM B. DANA COMPANY, Publishers,
Front, Pine and Depeyster Streets, New York.
paying the tax, we insert the letters cpt, which means that
company pays tax, at least for the present. Only very general
differentiations like this are possible. Tax exemption
EXPLANATIONS OF TERMS AND ABBREVIA- features of
mortgages are so varied and diverse that more
TIONS USED.
definite information is out of the question.
"DATE."—The date of issue on the face of the bonds ia
The following is an explanation of the terms and
abbreviations used on succeeding pages in the pre- indicated under the word "Date."
"INTEREST."—Under this heading is given the rate pez
sentation of the statements of the different com- cent yearly of
the interest payable on the bonds or (if guaranpanies:
teed) of the dividend payable on the stock; also the months
"STOCK AND BONDS."—Under these words are shown: when the interest or dividend is payable; thus "6 J-J" means.
"Stock."—The amount of stock authorized immediately fol- 6% per annum payable January and July; correspondingly,.
lows the word "stock," and against this is the par value of "F-A" is used to mean February and August;"M-S" means,
single shares. For example,"Stock,$500,000 ($100)," means March and September, and so on; while "Q-J" means quarstock, total issue authorized by charter or by Act of Legis- terly beginning in January, and "Q-F" quarterly beginning
lature, $500,000, divided into shares of $100 each; "f. p." fol- in February. (The day when the interest payment is due
can generally be determined by noticing when the loans
lowing the amount given as outstanding means "full paid."
"Pref." means "preferred stock." "Pref.6% cum." means mature, the day of the month there given being in most oases
preferred stock entitled to dividends of 6% per annum, such the same as for one of the interest dates.) "S.
-a." means
dividends if not paid accumulating, all dividends due and semi-a,nnual.
"ROAD."—The word "track" means in street railway
unpaid to be paid in full for each and every year before the
common stock receives anything. "Pref. 6% non-cum." parlance all tracks, whether main line, siding, switch or
means simply that the stock is entitled to 6% per annum if second track. ."Rails are 80-lb. girder" means that each.
earned, but that if unearned in any year the dividend for that rail weighs 80 pounds to the yard. "k.w." means kilo-year will not be paid subsequently. "Div." means dividend. watts, and "h.p." means horsepower. "k.v.a." means,
The last dividend paid is shown under the column headed kilo-volt-amperes. "P-A-Y-E cars" means pay-as-you-enter
or prepayment cars.
"Maturity."
"Exts., add'ns and impts." means extensions. nxiditions
"Bonds."—"Mort.," "mtge." or "M." means mortgage.
"Consol." or "con. M." means consolidated mortgage. and improvements. "Auth." means authority or author"Gen. M." means general mortgage. "Ref. M." means re- ized. "0th. inc." means other income. "Cal. year."
funding mortgage. "Coll. tr." means collateral trust. The means calendar year.
REFERENCES TO "CHRONICLE."—This supplement
amount next following is the total authorized amount that
can be issued under the mortgage. The denominations in is expressly intended for use in connection with the investwhich the bonds are issued usually follow in parenthesis. ment news and official reports published from week to week
The word "gold" is usually spelled out, but in some instances in the "Chronicle." Frequent reference is therefore made
to the volume and page of the "Chronicle" as (V. 115, p.
is contracted to "g.," while "cur." means currency.
"Cony." means convertible into stock. "S. f." means 000), where fuller information may be found. Following
sinking fund. "c." means coupon; "es*" means coupon but also each statement is given a reference to the latest news
may be registered as to principal; "r" means fully registered item in the "Chronicle" respecting the company. As every
(no coupons);"IA' means registered, convertible into coupon such item contains a reference to the last preceding item,
bonds; "o*&r*" means registerable in either form and con- the reader can run back at pleasure. Annual reports ars,
in black-faced figures.
vertible from registered to coupon or the reverse; and "o*&r

ELECTRIC RAILWAY SECTION.




ELECTRIC RAILWAYS.
SECURITIES AND REPORTS
This is one of our six Sections or Supplements. In using the series it is to be remembered that they are inter-dependent
publications, complete only as a whole. If utilized together, and with the fresh items of news the "Chronicle" contains from
week to week, the investor will have all the information he needs in seeking a safe and remunerative lodgment for his money
A full Index showing where each company will be found is given in the closing pages of the book.
AKRON, OHIO.
-A holding co.
NORTHERN OHIO ELECTRIC CORPORATION.
Insilco. in New York on Oct. 18 1916 and owns over 99%of the common
'toil of the Northern Ohio Trac. & Lt. Co. Also controls the Kent Water
ht Co.
&
-75,000 shares of common stock (no par value)
CAPITALIZATION.
$6.000,000 6% cum. pref. stock (par 8100): pref. as to assets and dive.;
-M. Dividends on pref. stock.
callable at 105 and diva.; dive. payable Q.
were begun Mar. 11917. and paid regularly to and incl. Dec. 1919. None
since-see below.
Hodenpyl, Hardy & Co., Inc.. N. Y.. and E. W. Clark & Co.. Phila.,
under whose direct supervision and management the properties are operated, brought out the $6.000.000 pref. stock in Oct. 1916 on the basis of
10 shares of pref. and 5 shares common stock for 81,000. The co. in 1916
obtained a loan of 84,000.000 for one year, and pledged as security therefor
approximately $9.000.000 corn. stock of the Northern Ohio Traction & Light
Co. Owing to unfavorable financial conditions attributable to the war.
this loan was renewed from year to year. In Feb. 1920 loan was again
renewed for one year to Feb. 11921. by which time $400,000 had been paid
on account, reducing the principal to $3,600,000. In 1921 the maturity
was once more extended, this time to Feb. 1 1922. V. 112. p. 933; again
extended in Feb. 1922 for one year to Feb. 11923. V. 114, p. 1651. The
company has agreed to defer the 6% dividend on the pref. stock until such
time as financial conditions will permit of the sale of securities to meet
payment of the loan. Compare V. 110, p. 1188.
-Of constituent companies for calendar years:
EARNINGS.
., Maint.
Surplus.
Expdz Tares.
Net.
Charges.
Gross.
Year$8,614,580 $6,535.330 $2,097.250 81,836,991 8242.259
1921
833,418
1,651,267
8,530,160
2,484,686
11,014,845
1920
-For years ending June 30:
Latest Earnings.
$8.690,735 $6,297,639 32,393.096 81,933,004 8460,092
1921-22
187,799
1.996 109
7,800,105
1,808.310
9.796.214
1920-21
-V.111, p.2322; V.112. p.372, 933, 1741; V.113. p.533. 2407;V.114, p.1651
Ohio Traction & Light Co.
Northern
Over 99% of the corn. stock is owned by the Northern Ohio Electric Corp.
ORGANIZATION.-Incorp. in Ohio in Dec. 1902 as successor to the
06
l9
Northern Ohio Traction Co., haying exchanged Its securities for the co mmon and pref. stock of the latter per terms in V. 75. p. 733. In
acquired control of the Canton-Akron Consol. Ry.. and guarantees that
company's $2.500,000 consol. 5s, prin. and int. V. 83, p. 435, 849. Also
owns entire capital stock of Akron Wadsworth & Western Trac. Co. and
guarantees its bonds prin. and int. Common stock listed on N. Y. Stock
Exchange in March 1909.
-The electric light and power properties are operated under
Franchises.
rights without specified limit as to duration. City railway franchises expire
follows: Akron. 1924; Canton, 1928; Massillon, 1932. 55% of the interas
urban trackage Is on private right-of-way or subject to franchises without
time limit; franchises for remaining interurban mileage expire from 1922 to
1944. See V. 114. p. 1064.
-In Sept. 1917 filed a new schedule of interurban passenger rates
Fares.
with the Ohio P. U. Commission, raising the rates generally to 2c. a mile.
V. 105, p. 998. In Sept. 1918 was auth. by the Ohio P. U. Comm. to
Increase interurban fares to 24 cents per mile where no local franchises
conflicted and on Mar. 3 1919 to 3 cents where franchises permit. On
May 31 1919 an ordinance increasing fares from 5 to 6 cents was submitted
V. I0g.
to the pes pie et Akron and defeated by a vote of about five to one
p. 2241. 2330. The co. in June 1920 submitted a tentative service-at-cost
franchise plan to the P U Committee of Akron, for details of which see
V. 110, p. 24811 V. 111, p. 793. On July 16 1920 the Akron City Council
-cent cash fare
amended the co's franchise so as to allow it to charge a flat 5
for a temporary period, and this rate was extended from lime to time. In
July 1922 this rate was granted at a referendum election. See also V. 112,
p.470, 1519; V. 114, 43• 522. 1891; V. 115, p. 760. The Canton City Council
In Aug. 1920 passed an ordinance over the Mayor's veto granting the com-cent fare with 17 tickets for $1. V. 111, p. 693. See also V. 111.
pany a 6
p. 1279. The City of Massillon has authorized an increase to 8 cents cash,
with 4 tickets for 25 cents
The stockholders on May 16 1921 voted in favor of reclassifying the
present 6% pref. stock (auth., $10,000.000) so that $5.451.800 shall be
6% pref. and 4,548,200 7% pref. Stockholders were offered the opportunity (1) to subscribe for 7% pref. stock at $95 and dividends. For each
share of 7%, pref. stock so subscribed 2 shares of 6% pref. stock could be
exchanged for 2 shares of 7% pref. stock.; (2) to exchange 6% pref. stock
for 7% pref stock without subscription to 7% pref. stock upon the payment
of $10 per share, upon condition, however, that they agreed not to sell prior
to Jan. 1 1923, for less than $95 per share the 77, stock so acquired. This
requirement is to protect the company's market during the campaign which
It is conducting for the purpose of selling its pref. stock to customers. For
details see V. 112, p. 1741, 2191; V. 113, p. 629.
In March 1922 the company issued $7,800,000 gen.& ref. mtge.6% bonds
Series "A", proceeds being used to reimburse the company for construction
expenditures and for the retirement of a substantial amount of debt, incl.
*1,145.000 1st Mtge. Canton-Akron Ry. 1st 5s, due March 1 1922 and all
secured 7% bonds,
the outstanding $2,454,200 Northern Ohio Trac. & Light 114, p. 11SO. 12g7.
V.
due June 1 1926 (called for redemption Apr. 11922).
1922 the co was auth. by the Ohio P. U. Comm. to issue $1,000,In Oct.
gen. & ref. mtge. bonds, proceeds to be
0007% pref. stock, 81,000,0006% V. 115, p. 1838. Compare •V 115,p 1429.
used to cover capital additions, &c.
Interest. Outstanding. Maturity.
Dale.
STOCK AN t) BONDSSee text
See text
Stock, corn. $10.000.0004100)
See text
4.677.800
6%
Pref 6% $5.451.800 cum _____
1,166,800
7%
Pref 7% $4,548.200 cum
5 g P-A
5,288.500 Aug 1 1956
ref. mtge, g. ($100,1. 1916
lit lien &
Y. or Cleveland.
$500. $1,000. &c.)_c.&r*_ j Int. payaole in N.2,224,000 Jan 1 1933
Naraiern Ohio Traction & 1903 4&5 g J-J
($1.000).1Int at Cit. Say. & Tr. Co.. Cleve., Trustee.
Light 1st consol
gold $7,500,000-- ctf I or at First Nat. Bank. New York. 1 1947
9,588,000 Mar
6 g M-8
1
Nor Ohio Trac & Lt Ser'A"I 922
trustee.
gen&ref M($600&$1.000 c*; Int. at National City Bank, N.
)
81.000,85,000 &$10.000 r5
tfj
gold
See text July 1 1933
6g
Ak Wads & West mertgage4 1906
$600.000 guar ($1.000) tf •
6 g JD 1 4.000,000 June 11026
Secured 6% bonds see text' 1919 Trust Co.. N. Y., Trustee.
($100,$500 & 31.000) gc*_ tf(Bankers
-Of the common stock, $9,100,090 is outstanding, in addition to
Stock.
issued. The prewhich $899,910 has been subscribed for but not yet any div. date, Is
stock is redeemable, all or part, at 110 and div. on
ferred
has full voting power. V 92. p. 956; V.
pref. as to div. and assets and
95, p.48; V. 97, p. 1116; V. 112, p. 1741, 2191; V. 113, p.629.
-Additional 1st lien and ref. bonds may be issued (a) par for par.
Bonds.
bonds; (b) for
for refunding or acquiring the $4,555.000 underlying and extensions85%
and
of cost of new construction, additions, betterments
replacement value of additional properties, under
tc) for 85% of cost or
on entire
conservative restrictions. The bonds are secured by mortgage of 5s and
property, subject to underlying liens, and by deposit of $4,000 Canton31.431.000
$4,276.000 of 4s of Nor Ohio Trac. & Lt. bonds of 1933,
85.000.000
Akron con. 5s of 1933. 8200.000 Akron Wadsworth & Western 5s,$7.000.000
-year 6% bonds, and
for the $4.000,000 7
are pledged as security
a whole
under the gen. & Ref. mtge. 6s, Series "A." Redeemable as provides
or in part on any int. date at 105 and int. The mortgage
and depreciation fund of 20% of gross earnings for
for a maintenance
maint. and replacements, or for additions and betterments, against which
no bonds may be issued; also provides for an insurance reserve for damage




I claims, &c.. of 4% of gross earnings until 8100.000 is reached, at which
figure the fund is to be maintained. Trustees are New York Trust Co.,
Trust Co , Cleveland. V. 103, p. 1210. Of
N Y.. and Citizens Save
the Northern Ohio Trac & Lt. consois 8996.000 are Sc. an outstanding;
the rest 4s. The Northern Ohio Trac. & Light gen. & ref. mtge. 6s are
1:suable in different series at various rates of interest, maturities. Sec..
under certain restrictions. Series"A" are secured by a pledge of $7.000,000
first lien & ref. mtge. 5s which amount of pledged bonds is to be increased
by $5,000,000 upon retirement of the secured 6% bonds, due June 1 1926
A sinking fund of A % semi-annually of total gen. & ref. mtge. bonds outstanding begins Dec. 1 1922. A general reserve fund for maintenance and
replacement of the property is provided for. Series "A" are redeemable
on any int. date on 30 days' notice at 110 on or before March 1 1932; at
10741 thereafter to and including March 1 1942; and at 1024i thereafter.
but prior to maturity. Four mills tax in Penna. refunded. V. 114, p.1180.
-year 6% bonds
Li,(ed on N. Y. Stock Exchange. V. 115, P. 74. The 7
-year bonds
are secured by a pledge of $5.000,000 1st lien & ref. 5s. Add'i 7
may be issued from time to time under certain conditions upon the deposit
of cash or the pledge of first lien & ref. 5s in the ratio of 125%. V. 108.
p. 2433.
On Jan. 24 1914 stockholders approved action of directors in providing
for payment of Federal income tax upon the various issues of the co.'s bonds.
CANTON-AKRON CONSOLIDATED RAILWAY.
sTooK AND BONDS- Date. Interest. OutstandinO.
5 g J-J
lonsol M $2.500.000. gold.{ 1906
$779.000 Jan 1 1933
guar p & by North Ohio Int. at Citizens Say. & Trust Co., Cleveland.
Trustee, or First Nat Bank. New York.
Trac & Light 41.000)c'...tf
6 g P-A
565.000 Feb 1 1923
1st M Can sr, N P,$1.000,000 1903
ctf Int. at Am. Ln. & Tr. Cu., Boston, Trustee.
gold ($1,000)
consolidated bonds, 81,331.000 are pledged
-Of the 32,500,000
Bonds.
under N. 0. T. Se L. 1st & ref. mtge., and 8290.000 are reserved for extens.
and imp. at 85% ofcost. B. Reed Anthony. Boston is also trustee. V.91.
p 1628, 1765. Certain of the Canton-Akron Consul. 5.9 are red. at 1024
and int. on 4 weeks' notice and others at par and int. The Canton-New
Philadelphia bonds may be called as a whole at 105 and int. on 3 mos:notice.
-Preferred stock was issued in 1911 and dividends of 1%%
Dividends.
quarterly have been regularly paid. In 1921 a 7% cum, pref. stock was
created (see above). Divs. on corn. were begun in 1906 by the declaration of 2%. payable in quar. Installments of Si % from June 15 1906.
V. 82. p. 1213. In 1907 2% was again declared, payable in quay. installments from June 151907. In 1908. June. 4-6% Sept., j9'3; Dec., 4 %
,
In 1911 3q%
In 1909. 1q49'. In 1910. 23.49'
In 1912, 441%, In
1913 to 1916. 5% per annum. In 1917. March 1j%; May, 134%; Aug.,
14%; Nov., 13.4%. Practically all of the common stock being owned by
the Northern Ohio Electric Corp.. dividends are no longer reported.
PLANT.-Llne extends from Cleveland through Akron, Canton. Massillon and New Philadelphia to Uhrichsville in Tuscarawas County. with
enches to Ravenna (via Kent). to Wadsw,rth ( via Barberton) and to
East Greenville from Massillon. On Dec. 31 1920 operated 242.21 miles of
track, and operated 5 miles under trackage rights affording an entrance into
Cleveland. Owns Lakeside Park in Akron and Meyers Lake Park in Canton. Also owns 1,011 acres of coal land in Noble County. Rails, 70 to
114-1b., standard gauge. 84 interurban, 265 city and 37 miscellaneous cars.
Does the exclusive commercial electric light and power business
in Akron and supplies energy, directly or indirectly to 18 other
communities. 2 generating stations with .in aggregate installed capacity
of 69,175 k. w.; 17 sub-stations. A 4-story office building and passenger
terminal in Akron was opened May 1 1918.
-For calendar years:
REPORT.
Calendar
Gross
Net aft.Taxes
Fixed
Balance.
Preferred
es Afaint.
YearEarnings.
Charges. Dividends. Surplus.
1921
$442,778
88.533.797 32.047.815 $1.268,175 $336,893
1920
1,038,269
10,923.630
327,074
1,027,639
2,392.982
OFFICERS.-Pres., B. C. Cobb, N. Y.; V.
-P., T. A. Kenney, N. Y.;
V.
-P. Se Gen. Mgr., A. C. Blinn; Sec., Chas. H. Lahr: Treas.. James
Sweeney; Asst. Sec. & Asst. Treas., E. E. Nelson and 0 Wigand; Gen.
Aud.: H. G. Ressler; Cutup., G. B. Dobbin.
-V. 113, p. 183, 629, 1675;
V. 114, p. 198. 522, 948, 1064, 1180, 1891, 2116; V. 115, p. 74, 183. 760.
1100, 1429, 1838.

ALBANY, N. Y.
UNITED TRACTION COMPANY.
Entire stock (except 4 shares) is owned by The Delaware & Hudson On.
V.81 p. 1552; V 82. p 160. The D.& H. also owns the entire stock of the
Troy & New England Rtt. and the Piattsburg Traction Co. and a half
interest in the Schenectady fly.. the New York State Rys. owning other half.
-Chartered Dec. 30 1899 as a consolidation of the
ORGANIZATION.
Albany By. (chartered In 1850), the Watervliet Turnpike & RR. (chartered
in 1862 and the Troy City By. (chartered in 1850) See V. 69, p. 1147.
IMO, V. 70 p. 77. Operates under leases to the constituent companies,
tA Cohoes R11.. Lan,in rhiinzh & Cohoes RR.. Waterford & ()oboes
RR. C ewer. Ry. and the Cspitol Ry. Owns 97% of the stock of the
Hudson Valley By., 7' q of ttie Waterford & Cohoes RR.. 80% of the
capital stock of the Capitol By., Cohoes By.
Forms. Park ity an" all
and Great Wes ern Tut.upike Road.
The k,unues k ity Ry was sold at foreclosure In 1904 and reorganized as
Cohoes By. Co., with $120,000 stock and $84,000 bonds; all of the stock
and bonds are deposited with the Central Trust Co. of New York as security
for bonds of the Albany By.
-In Dec. 1906 acquired a majority of the
Acquisition of !Judson Valley.
stock and bonds of the Hudson Valley By. Co. and increased its own stock
from $5.000.000 to $12,500,000 to finance the purchase. V. 84, p. 52.
Franchises perpetual except that of the Capitol By, (a short line on the
outskirts of Albany), which expires In 1951.
Traffic Agreeinents.-Has traffic agreements with the Albany Southern
RR., Schenectady By. and Hudson Valley By. by which cars of the firstnamed road are run into Albany from Rensselaer, cars of the Schenectady
By. Into Albany, Troy and Watervliet, and cars of the Hudson Valley Ry.
into Troy from Waterford and in Albany.
Electric power is furnished under contract by Adirondack El. Pow, Corp.
Fares.-Effective July 5 1922 the co was auth. by the N. Y. P. S. Comm.
to charge a uniform fare of 7 cents. See V. 115, p. 184, for details. Compare V. 112. p. 471.
-On Dec. 16 1921 Supreme Court Justice Hinman upheld
Fare Decision.
the right of the P. S. Commission to increase as well as decrease fares in a
decision on an application of the city of Troy to prevent the company from
asking a higher fare in that city. V. 113,p. 2722, 1362,629; V. 114, p. 411.
Interest. Outstanding.
Maturity.
STOCK AND BONDS- Date.
4 J-J
See text
$12 500.000
Stock (par $100).;12,500.000444 g M-N
Debentures. $1,250.000. gold 1901
456.000 May 1 1919
r-ntf Int. at National Commercial Bank, Albany'
($1000)
.
4 g J-) 2.620.000 June 1 2004
Cons mtge, $6,500,000. goldS, 1904
cs tf Int. at Centra) Trust Co., N. Y.. Trustee.
41.000)
428.000 Jan 1 1930
5 g J-J
Albany By cons M ($500.0005 1890
c*_ntf Int. at Central Trust Co., N. Y., trustee.
gold 41.0(10)
5 g J-J
496.000 June 1 1947
Albany Ry gen M $750,000 1897
,
tf lInt, at Central Trust Co. N. Y., trustee.
gold
6 M-N
8
000 May 1 1919
350,
Watervliet Turnpike & RR-1 1 89
ntf Boston Safe Dep.& Tr. Co., Trustee,
1st M guar.
6 M-51
150,000 May 1 1919
2d M p & int guar____ntff 1890
1 Metropolitan Trust On,, N. Y., Trustee.
5 g A-0
2.000.000 Oct 1 1949
Troy City 1st con M. gold.1 1892
c*Ser I Int. paid by Trustee. Central Trust Co..N.Y
84.000.000

OCT., 1922.]

ELECTRIC RAILWAYS

3

-For year ending Dec. 31:
REPORT.
retire prior
Balance,
Interest,
-Of the comes'. mtge. of 1904.$3,880,000 is reserved to fix rate of Fiscal
Bonds.
Net (after
Gross
may
Taxes). Rentals, etc. Surplus.
liens. No ell. I'd. and bonds are not subj. to call. Directors at 4 ti %. Ttu
Earnings,
Year$53 533
but not exceeding 6%; present Issue is
$111,757
Int. on unissued bonds
5165.290
5872.313
11,21
notice at "a 5% int. rate to
45,837
117.641
163,478
debe. may be called on any Int. date on 3 mos.
837,579
v.73. p. 1112. 1920
51.283
114,733
unexpired term as calculated in standard int. tables."
166,016
the
690,850
$750.000. of whicb 1919
The Albany Ry. general mortgage of 1897 was for
Inoperative.
l system from Albany via Rensselaer to
reservation
ROAD.
-Operated by third-rai
$254.000 was reserved, but consolidation made
trolley.
$50.000 dire
Hudson. Operates local cars in city of Hudson by overhead
The Troy City leased roads include Troy & Cohoes, stock
(Ibis. under lease, Total, 61 miles of track. In Feb. 1900 made contract giving it privilege
under lease, 7%; Lansingburg & Cohoes, stock, 515.000:
stock receives 7% year's to enter Albany over the tracks of the United Traction of Albany. Double7%. The Waterford & °oboes RR. $25.000
completed in
tracking of road between Rensselaer and Kinderhook Lake
under lease
20 passenger cars, 6 freight and 2 express cars, 2 express
1910.
same
-First guar. div., 1 %,was paid May 1 1900; paid. rate tra let's Operates
snow plows. Rails.
DIVIDENDS.
and 2 electric locomotives convertible into
Or,
63.% was
continued up to and Inci Nov. 1905. For year 1906 312.500.000 and dive
80-lb. steel; standard gauge.
Dec. 31 1906 stock was increased from $5.000.000 to 2% Jan. 1 1908 and
-P., Richard Sutro; Sec.;
OFFICERS.-Pres., William Loeb, Jr.; V.
(J.-J.) and 4% was paid in 1907,
made semi-annual
-P. and Gen. Mgr. James E.
1914.2%. None since. William A. Ross; Treas., Irvin W. Day; V.
2% each six months thereafter to and inc1.1913. In
Hewes.
-V. 111. p. 1750; V. 112, p. 468, 1517, 1739, 1976; V. 113, p. 847.
-Operates 62.942 miles of first main line track and operates in
ROAD.
Albany.
all 112.341 miles of track, of which 91.238 m. owned, connecting WaterTroy, Cohoes, Rensselaer, Watervliet, Lansingburg, Green Island,Has 479
ford, &c. Rails, 47 to 141-lb. Girder and T. Standard gauge.
ALBIA, IOWA.
cars.
ALBIA LIGHT & RAILWAY CO.
-For cal. years:
EARNINGS.
n
Deficit.
Other Inc. Chas. et Tgx.
Net.
Gross.
YearION.-Incorp. In Delaware June 1916 as a reorganizatio
ORGANIZAT
409
of the Southern Iowa R. & Light Co. as per plan in V. 103, p. 939. Does
1921_ -__S1.199.783 def.a1,579.887 5275.416 $903,938 def.32.203
def.416.510 the light, heat, power, railway and gas business of Albia. Hocking, Elite796.847
273.570
104.767
1920____ 3,253,973
def.175.730 man and community, serving a population of 15,000. Also supplies power
763,241
274,520
312,991
1919-- 2,848,872
-P., W. H. Williams. N. Y. for the operation of 12 miles of the Centreville & Albla Ely. Co. New power
OFFICERS.-Pres., L. F. Loree, N. Y.; V.
March 15
-P. & Asst. to Pres.. W. B Schofield. units and 22 miles of transmission Mimi were placed in operationthe mining
V.
-P., H. B. Weatherwax, Albany;
V.
coal mines and
N.Y.;Sec., F. M.Olyphant; Aud.,D.L. Waters, Albany; Treas.,C. A. Hoag, 1918, with contracts to furnish power for 4 large expire in 1942.
Comp., W. E. Eppler, N. Y.; Gen. Mgr., A. E. Reynolds, Albany. communities located at these mines. Franchises
Albany;
Interest. Outatanding. Maturity.
-V. 113, p. 1362, 2407, 2722; V. 114, P. 411, 2117;
Principal office, Albany.
STOCK AND BONDS- Date.
$400 000 --- Com stock 5400.000 4100/
V. 115, P. 181.
See text
100.000
Pt6% non-cum$100.000 ($10). -Q-P
(1) Hudson Valley Railway.
1941
400.000
5g
In Dec. 1906 the United Traction Co. of Albany acquired control through 1st M 1500.000 gold (51.0001 1916
and
- - -c&r _cot'Int. at Empire Trust Co.. N. Y.. trustee.
stock.
purchase of a majority of the capital
outstanding,5100.000 were issued to cover
Bends -Of . bonds reported
$100).the
of the
ORGANIZATION.-Incorp. Aug. 14 1901 as a consolidation
'sew extensions. Remaining bonds are for extensions and additions. No
Glens Falls Sandy Hill & Fort Edward Street Ely. Warren County Elec. Ry., sinking fund and not subject to call.
Stillwater & Mechanicyllie Street Fty- Greenwich & Schuylerville Street
Dividends.-Quarterly divs. of 1 % on pref. stock were paid from Aug.
Hy., Saratoga Traction Co. and Saratoga Northern Ity., the capital stock
1 1917 to and incl. May 1918. None since.
of these roads being exchanged for stock in the new company. V. 73. p.391
-Years ending Dec. 31:
EARNINGS.
Owns entire capital stock of Warren County Elec. Lt. Ht. & Pow. Co. and
Surplus.
Net,aft.Tax. Bond Int.
Gross,
Cal. Yearall the stock ($200.000) and all the bonds ($200,000) of the North River
527,712
$17.500
545.212
3160 363
1920
a road operated in Saratoga by this co. Franchises perpetual.
20.311
17,500
37 811
133,900
was *1919 _
-A readjustment of the company's finances
Financial Readjustment.
affected by the coal strike during Nov. and
•Earnings were adversely
1040. In
effected In 1906 without foreclosure as per plan In V. 82. p. 100 provide for Dec. 1919. It is estimated that net earnings would have been $3,500 more
created to
March 1906 $2,500.000 5% non-corn. pref. stock was
had not this strike occurred.
the convertible features of the debenture "13" bonds. V. 82. a. 751
and
-Operates 12 miles of street and interurban railway in Albia
ROA 13.
-Has traffic agreements with the United Trac. Co.. connecting the towns of Hocking and Hiteman with Albia. 60 and 70-1b.
Traffic Agreements.
& Johnsonville Ely., by which cars of the Hudson Valley T rail; standard gauge.
and Greenwich
Ry. Co. are run over the lines of the United Trac. Co from Waterford
-P., Merle R. Walker; See..
OFFICERS.-Pres.. Albert L. Fowle; V.
to Troy and also in Albany. and cars of this company are run over the
Mgr., Ralph
M. A. Day, all of 61 Broadway, N. Y. City; Treas. & Gen.
Greenwich & Johnsonville at Thomson. N Y.
by the P. S. W. Boyer, Albia.-V. 103. P. 939; V. 105. p. 496.
-For details of increased fares auth.
Higher Fare Schedule.
Commission on Aug. 5 1921, see V. 113, p. 730.
Interest. Outstanding. Maturity.
Date.
STOOK AND BONDSe2,978,300
Gommon.$3.000,000, par $100
See text
ALLENTOWN, PA.
Preferred ($2.500.000 (sea),
text), 5% non-cumulative_ I
LE111011 POWER SECURITIES CORPORATION.
2.222,000 July 1 1951
5 g J-J
First consolidated mortgage( 1901
and then acquired;
ORGANIZAT1ON.-Incorp. July 19 1917 in Del.
$4.000.000 (denomination( interest at Manufacturers' Nat. Bk., Troy.
con(a) All the stock of the Lehigh Navigation Electric Co. (formerly 720),
51.000 gold)______ - -c*tf)May be called at 110 & Int, on any int. date
474.000 Jan 1 1951 trolled by the Lehigh Coal Sr Navigation Co., which see in V. 105, p. other
5 g J-J
Deb "A" Income. $700,000... 1906
the Harwood Electric Co. and
2,500.000 Jan 1 1951 and through such acquisition control of
2 g J-J
Deb "B" Income. $2.500.000_ 1906
of the
subsidiaries;(6) a substantial majority of both classes of stockof the Lehigh
Lehigb
Underlying Liens
Past due Valley Transit Co., and through such acquisition control
100,000
6 J-J
F S U Si F El 1st M (no opt)1 1891
Valley Light & Power Co.; (c) approximately all the pref. and com. stocks
Trust Co.. New York, Trustee,
($500 and $1.000) gold __c(Central
of companies formerly controlled by the Northern Cientral Co. In June
past due
50.000
6 J-J
of
2d M ($500) gold_c 1893
do
1920. however. the Penna. P. S. Comm. approved the joint agreement
Int. at Merchants' Nat. Bank. Glens Falls
of which
Past due. consolidation and merger of eight electric and gas companies (seven
82.000
6 A-0
3d M (3150.000)ntf 1901
do
were controlled by the Lehigh Power Securities Corp.) into the (new) PennMay be called at 100.
sylvania Power & Light Co., which see below. The Lehigh Power Securities
past due
47,500
6 A-0
still & Mech first mortgage__ 1893
Corp. controls the Pennsylvania Power & Light Co. through owner hip of
Bankers Trust Co., New York. Trustee
all its common stock, except directors' shares, and all its non-cum. pref.
past due
202,500
6 A-0
consol mtge.. 1 1898
do
do
controlled companies supply electric light and power to 122
(Glens Falls Trust Co., Glens Fails, Trustee. stock. The ;
$250,000
communities gas service to 16 cities and towns, and have charter rights in
-Of the $1.000.090 M.of 1901,3182,000 are set aside for prior liens 70 townships; 51 communities are served by interurban railways. Franchises
Bonds.
are free from burdensome restrictions,
and 51.290.000 have been deposited as coll, for temporary loans. The deb
Int. on generally, in the opinion of counsel,
''11" bonds were cony, into prof stock at par to March 1 1917. No Int. and a very substantial part of them is perpetual. For full description of
and Lehigh Valley Transit Co. below.
the deb."A" and "B" bonds is neither cumulative nor obligatory.
properties, &c., see V. 105, p. 498,
has been paid on either class. The G. F. S. H. & F. E. 1st M. fell due See also V. 105. p. 290 and 818.
-In connection with the acquisition
July 1 1911. but was extended and is now past due: 2d NI. fell due July 1
Lehigh Navigation Electric tie. Bonds.
M. April 1 1921. Both issues of Stillwater & Mechanic- of control of this co. by the Lehigh Power Securities Co., the mortgage of
1913 and the 3d
ville bonds fell due Anril 1 1913.
the Lehigh Navigation Electric Co. was closed, the Lehigh Coal & NaviCharges et Balance. gation Co. retained ownership of the $3,000,000 Series "A" bonds issued
Other
Net
Operating
EARNINGSDeficit.
Taxes.
Revenues. Earnings. Income,
thereunder, hut gave the Securities Corp. an option on the purchase of
Year ending$5,149 $454,831 $414,645 the same which ran to 1921.
$35.036
31.107.350
Dec. 31 1921
241.426
450,521
5,645
203.450
1.492.464
Interest. Outstanding. Maturity.
Dec. 31 1920
STOCK AND BONDS.- Dale.
307.845 shs
-Main line extends from Troy northward along the Hudson Stock 605.000 shs (no par vanROAD.
15,104,900 Aug 1 1927
6 g F-A
Secured gold notes, $50,000,-1 1917
through the villages and towns of Waterford. Mechanicville, Stillwater
000($100,93500&$1,000)c•tf(Int. In N. Y. Guar.'Fr. Co., N. Y., trustee.
3chuylerville, Thomson, Fort Edward. Sandy Hill, Glens Falls and. CaldDivision. which branches off the
well to Warrensburg. The Saratoga
Lehigh Valley Transit Group-See Lehigh Valley Transit Co. below.
Lake,
main line at Mechanleville, provides a line from Troy to Round Glens
Voting Trustees for Stock.-Irving W. Bonbright, Bonbright & Co.. Inc.;
to
Ballston Spa and Saratoga, with a branch from Saratoga Springs a branch George El. Frazier, Brown Bros. & Co.; S. Z. Mitchell, Pres. Elec. Bond &
in June 1903. There is also
Falls, which branch was completed
Share Co.; Lewis E. Pierson, Chairman of Bd. of Irving Nat, Bank, N .
Lake and an-P. Chase
line from Saratoga Springs to Kayderoes Park on Saratoga miles; second S. D. Warriner. Pres. Lehigh Coal & Nay. Co.: G. NI. Dahl. V.
& Co.; F. N. B. Close.
other from Thomson to Greenwich. Total first track, 121.22
miles of track, Nat. Bank, N. Y.; Thomas Newhall, Edw. B. Smith Henry & West, Phila.
track, 18.33 m.; sidings, 8.74 m.; making a total of 148.29
-P
V. . Bankers Trust co.. N. V.: and William West.
48 to 141
of which 122.85 miles are owned. Rails. T. girder and grooved, 118 ears,
Notes.-Over 518.000,000 notes were subscribed for. $3,299,900 have
lbs. Standard gauge: 70% on private right of way. OperatesKaydeross been called for payment and retired. The Electric Bond & Share Co. delivowns
Including 3 freight 16 exp. and 21 service cars. Company and Thomson. ered to each subscriber 4 shares of the Securities Corp. stock with each
Park, at 'Saratoga Lake, and Ondawa Park. bet. Greenwich
$1,000 of notes. The stock may be deposited in a voting trust.
-V. 89, P. 286: V.103,
The collateral for the notes includes all non-corn. pref. and corn. stock
SIOFFICJERS.-Same as for United Traction Co.
and certain notes payable of the Pennsylvania Power & Light Co. and a
D. 1274: V. 113. p. 730. 1772.
substantial majority of both classes of stock of the Lehigh Valley Transit
It is expected that the corporation from time to time will sell part of
-Third rail, except In cities.
ALBANY SOUTHERN RR.
the securities deposited under such trust agreement, the proceeds to be used
York Sept. 14 1909 and is a
ORGANTZATION.-Incorporated In New Co. sold under foreclosure on for the purchase, redemption and cancellation of the notes, by purchase at
reorganization of the Albany & Hudson RR.
the lowest price, or at 101% and int., by lot. Notes are red., all or part,
1909 merged Albany
-mills tax refunded. V.
Sept. 8 1909 (per plan V. 89. p. 223). On Sept. IS are perpetual. Does& on any int. date at 101 and int. Pennsylvania 4
a
Greenbush Bridge Co. V. 89, p. 720. Franchises
105. p. 818. 498.
passenger, freight and express business and supplies light and power
-Of combined properties for 12 mos. ended June 30 1922
EARNINGS.
along route.
(inter-group charges eliminated): Gross from operation, $15 321.838: other
-On Aug. 10 1921 it was announced that in 'Iconic,
Financing Plan Abandoned.
,
$145.620; total, 315.167.458: operating expenses 3.1 832.168: net,
of the 1st Mtge. 5s had not
view of the fact that a very considerable number
new financ- $5.635,290; interest and discount, $2,035,350; deprec., $1,271,089; balance,
been deposited under the deposit agreement of Mar. 1 1920, the
Proportion of earnings, including interest, accruing to Lehigh
ing plan set forth therein had oeen abandoned. V. 113, p. 847. For outline 32.325,851.
Power Securities Corp. on the basis of securities owned, $1,975,347.
1921.
of plan see "Electric Railway Supplement" of April 30
-Generating plants haves present capacity of 152,962k w.
Property, &c.
of
new
Fares.
-In Nov. 1918 the P. S. Comm. auth. a of 28scheduleper rates 532 miles high-voltage transmission lines (over 11.000 volts); gasholder
4 cents
mile,
providing for a one-way rato
effective Dec. 1
miles gas mains; 215 miles street and interone-way faros. In July 1920 was auth. by capacity, 3 396.0)0 mi. ft.; 270
1918'
round trip rates to be double the
with a minimum fare urban railway lines.
the P. S. Comm. to increase fares to 3Sic. per mile
-The operations of controlled companies are under the
Management.
of 5c. V. 111, p. 72.
Interest. Outstanding. Maturity, management of the Electric Bond & Share Co.
Date.
STOCK AND BONDS-Ps., Wm. Darbee, P. B. Sawyer
OFFICERS.-Pres., E. K. Hall; V.
_
Common 31.375,000 (5100) _
F-Aom
9
$12',3321000A u 'a1
75 0 0
1 02 0 0 se t 11
P
1
and E. W. Hill; Treas.. A. C. Ray; Sec., E. P. Summerson.-V. 109, 1).
ref 52,100.000 5% n-c ($100) ____
5 g M-S
1793; V. 110, p. 261, 1973, 2487; V. 114, p. 854, 2469; V. 115, p. 1837.
mortgage $1,500.0001 1909
First
New York. Trustee,
gold ($1.000)._ . _ _e* tf(Bankers Trust Co.,See text
Mar 1 1948
6 g M-S
First Ref Mtge $3.000.0001 1918
(1) Lehigh Valley Transit Co.
(Empire Trust Co.. New York, Trustee.
gold ($1,000)
-In July 1917 the Lehigh Power Securities Corp., which see
Control.
York. Sink.
tax paid, making them tax-exempt in New to
-Recording
Bands.
above, acquired a substantial majority of both classes of this company's
1928. 2%; stock on the basis of $28 per share of corn. and $48 per share of pref. stock.
fund of 1t% of bonds authorized from 1917 to 1921; 1922
as a
1 1922. Callable
1929 to 1938. 3%. '3168 000 In sink. fund Oct. p. 1140. Of the 1st Ref. V. 105. P. 606.
whole at 106 and int. on any hit. day. V. 89.
ORGANIZATION.-Incorp. In Pa. on Nov. 3 1905 and is a reorganiza6s. $700.000 have been issued and are held in the treasury. Mar. 1 1921.
the Philadeimatured
„
tion under foreclosure of the Lehigh Valley Traction Co.,
Notes.
-The 3-year 70, notes which originally
to Mar. 1 1922, were canceled on that date phia & Lehigh Valley 'Fraction Co., the Allentown & Slatington and the
but were extended for one year
were returned to the Copley Egypt & Ironton Street Ry., as rot plan in V. 79, p 733. 1462.
and the $700,000 1st Ref. Os pledged thereunder
to net 1911 purchased the Montgomery Trac. Co.(V. 93. p. 940), all of
company's treasury.
p Lid Feb. 1 whose bonds and stock are deposited under the Lehigh Valley Transit ref. &
DIVIDENDS.-Initlal semi-annual dIv. on pref.. 1j4%.
imp. mtge. of 1910; reconstruction of Mont. Trac. completed Dec. 12 1912.
1911. Aug., %; none since.




4

ELECTRIC RAILWAYS

[Vol,. 115.

cutting down running time between Allentown and Philadelphia (City Hail
J tine 1 1908:$70.000 have been retired. Bonds are subject to call at 105 aro
from 44 to 24 hours. An 8-mile cut-off on this division was completed
in
V 83. v. 323: V. 104. p. 2553.
1914 and the running time between Allentown and 69th St. Terminal lot
ROAD -Embraces practically the entire street railway system of Easton
Philadelphia, Is now 1 hour and 58 minutes.
In April 1913 purchased controlling Interest in stock of Easton Console and West Easton, Pa., and Philipsburg, N. J., with lines from Easton to
dated Electric Co.(V. 96, p. 1022). On June 20 1913 shareholders author- Bethlehem, South Bethlehem. Nazareth. and Phillipsburg, N. J.
total track. 54.389 miles, all standard gauge; operates through
ised an issue of collateral notes to pay for the purchase. V. 96, p.
1489, Easton to Bethlehem. South Bethlehem and Allentown. 93 cars from
passenger
1772. Also has half interest in Norristown Transit Co. Franchises perpet. and 12 serviee ears
On Dec. 31 1915 purchased the franchises and property
OFFICERS.-Pres., P. B. Sawyer: V.-Pres., S. IT. Hackett; Sec. & Trees
Sown Trac. Co. (formerly leased) for the sum of $1 and the of the Quaker
cancellation
-V. 97, p. 53. 301, 311; V. 98, p. 838; V. 99, p. 1300.
its indebtedness, all of which was owned by the Lehigh Vail. Transit o C. N. Wagner.
Co
Under agreement made in July 1907 the Lehigh Valley Transit
(2) Pennsylvania Power & Light Co.
has its
Philadelphia terminal In the Philadelphia Rapid Transit station
Lehigh Power Securities Corp. owns all the common stock, except
at Chestnui directors' shares, and
Hill. V. 85. p. 99. Late in 1912 made a contract for express service
all the non-cum. pref. stock.
with
ORGANIZATI
Adams Express Co. In 1918. however, upon the taking over
of the express of the followingON.-Incorp. June 4 1920 as a consolidation and merger
cOmpanies by the Federal
companies: The Le'ligh Valley Light & Power Co.,
this express service was
V. 108, p. 375. Conducts through freight service between discontinued
Northern Central Gas Co., the Columbia St Montour Electric Co., the
Govt..
the
Allentown and Northumberland County
Philadelphia. V. 97, p. 521. Also has numerous municipal
Gas & Electric Co., the Harwood Electric Co.,
street-lighting the Schuylkill Gas &
contracts. prenchisee, with one minor exception are perpetual
Electric Co.. the Pennsylvania Power & Light Co. (old
In Mar. 1922 the Easton Transit Co., controlled
company) and the Pennsylvania Lighting Co. into the (new) Pennsylvania
dated Electric Co., leased its property to the Lehighby the Easton Consoli- Power & Light Co. All of the companies (except the Pennsylvania Lighting
Valley Transit Co. for Co.) entering
99 years. Compare V. 114, p. 1286.
into the merger were controlled by the Lehigh Power SecuriFare..
-In June 1920 was auth. by the Penn. P. S. Comm.
ties Corp. (compare V. 110, p. 1973).
fares from 6 to 7 cents, with an increase of 1 cent per zone on to raise zone
As
commutation underof Dec. 31 1921 the co. leased the properties of the Wilkes-Barre Co.
tickets. V. 110, P. 2387. Compare V. 110. p. 465.
a plan involving ultimate purchase.
Owns, among others, the following stocks:
STOCK
Date.
Interest. Outstanding. Maturity.
Cap. Stock. Common AND BONDSName of Company310,000 sh
Owned. Tot. issue Pref. cumulative
Allentown Bridge Co
37
113,360 sh
$292.100 $292.10C Pref. non-cumulati
Rittersville Hotel Co
ve
65,000 sh
$7
100.000 100,000
'Easton Consolidated Electric Co.(50% Paid)
Bonds of Pennsylvania Pourer .e. Light Co. and Controlled Companies in
'751.000 500.000
Norristown Transit0oHands of PuiOlic as of Aug 31 192212 000
24.000
Sfiscellaneous stocks
Penna Pow & Lt On 1st & ref'
Lenses Beth. & Nazar. Pass. Fly. for 999 years at 5% on 10.200 160.000
Series "A"
1921
7 g F-A
8,090,000 Feb. 1 1951
stock and bonds
Series "B"
STOCK AND BONDS- Date. Interest.
1922 5 g A-0
7,000.000 Oct. 1 1952
Ou tstanding. Maturity.
($500 & $1,000 c*, $1,000 Guaranty Trust Co., New York,
Common,$3,000,000, par $50$2.997.350
['ref, $5.000.000, par $50_ __ ___tf
Trustee.
& .55,000 r*)
Q-If
4.979,687
See text
Northumb.Co. Gas & El. Co.
5%,cum after Nov 3 1910_1
1st M. a. f. bds.. call. 105 1911
First mortgage. $5,000,000t 1905
5 g M-S
$1,139,000 Sept 1 1916
4-5 g M-S 4,994.000 Dec 1 1935
any int. date
Int. at office of West & Co. Nada.
gold ($1,000)
ctf(Guaranty Trust Co., New York, Trustee.
Co 1st & Ref 1912 5 g
Oansol. mtge. $7,500,000.1. 1905
775,000 Aug 1 1962
'
4-SR J-D
354 .000 Dec 1 1935 Nor Cent Gascall at 105 any Int. at office F-A
34,000,000,
gold 31.000)
of El. Bond & Sh. Co.. N. Y.0.
tf(Commercial Trust Co., Perila., Trustee
int. date
Ref & imp mtge $15,000,0001 1910
5 g J-D
5.115,000 June 1 1960 Williamsport Gas Co let M_1 1899 5 g
gold ($1.000)
F-A
c*tf(Lehigh Valley Trust Co., Allentown. Trustee
400.000 Feb 1 1939
1 Interest at Fidelity Trust Co., Phila.
Beth. & Nazar St Ry Stock_
150,000 5% guar
Columbia & Montour El. Co.Bonds ($150.000)
tf 1899
5 M-N
150,000 May 1 1929
1st M call 105 any int date f• 1913
Norristown Transit Co. 1st M_ 1912 5 F-A
5 g F-A
577,200 Feb 1 1948
189,000 Feb 1 1942
2d M call 105 any lot date4 1913
Allentown Bridge 1st M ($500 1912
5 g F-A
567.500 Feb 1 1943
5 J-J
218.000
& $1.000) call at 105 anyi Guar. p. & I. by Lehigh Valley July 1 1942
Transit Co. Pennsylvania Ltg Co 1st rntge_tint. at office of El. Bond &Sh. Co., N. Y.0.
Int. date
„
5%
1,302,000
tf(Int. at co's office
Coll trust bonds, 3925.0001 1913 6 g J-J or Brown Bros.& Co.,Phila. So Beth E L Co 1st M call at{ 1899
5%
15,000 Oct 1 1929
924,200 July 1 1921
105 at any Int date
($1,000.$500,$100)gc*ntf(Int. at Girard Trust Co., Phila., Trustee,
Loh N El Co ($10,000,000) 1st M:
Equip trust "Ser A"
tf
5 A-0
8,500
See text
"A"call 1074 any list date_ 1913
Equip trust "Ser B"
6 J-J
3.000,000 July 1 1943
5 J-D
40,000
See text
"B"call at 100 any int date_ 1913 5 J-J
Equip trust "Ser C"_____ __
775.000 July 1 1943
5 J-D
100,000
See
Bonds.
-Of the $5,000,000 first mtge.. $2,770,000 bear 4% Interest text Harwood Electric Co.
and
are all out, and $2,224,000 are 5s. Int. at the Guaranty Trust Co.
1st M call 1074 any int 1909
5 J-J
686,900 July 1 1939
of N. Y
date
The 1st M. bonds are redeemable on any int. date, the 4s at
Interest at Girard Trust Co.. Philadelphia.
at 110. Of the consols. $2,e00.000 4s were outstanding, 105 and the 5-;
1st & Ref M ($10,000,000) 1912 6 M-S
2,003,000 Mar 11042
but $2.146,000
have been pledged for ref. & impt. bonds. Int, on consol,
callable at 10734
Interest at Girard Trust Co. Philaaelphia.
at Commercial Trust Co., Phila. These bonds are not bonds is payable Lehigh Val L & P mortgage 1913
5 g A-0
604,500 April 1 1943
'
subject to
32,000,000 ($1,000, 3500 & Lehigh Valley Trust Co., Allentown, trustee.
Of the 515 000.000 ref. & smut. bonds 35.000 000 are reserved to call.
metre
1st M. bonds and 32.500,000 to retire equal amount of consol. mtge. bonds,
3100) gold
c*tf LInt.at co.'s office or Brown Bros. & Co.,Phil.
$2,261,000 in addition to amount reported outstanding. Bonds are Schuylkill Gas & El Ist M _ _ _ _ 1913
6 A-0
105,600 April 1 1941
Stock.-Tho cum. pref. stock is red. at $110, while non-cum. pref. is
redeemable at 110 and interest. V. 92, p. 187; V. 91, p. 698, 982;
p. 750. Int. is payable at office of company or Brown Bros & Co.,V. 95, red. at $100.
Phila.
Bonds.
Bonds are listed on the Phila. Stock Exchange. The coll, trust notes
-For
of Power & Lightdescription of 1st & ref. mtge. bonds of the Pennsylvania
1923 are red. at par and int. on any int. day.
Co. see V. 114, p. 659, 751, for Series A" and V. 115,
Equip. trust "Series A" are payable $4,250 semi-annually, "Series B" p. 1542, for Series B."
Lehigh Valley Lt. & Power bonds are subject to call on any int. date
$5.000 semi-annually, and "Series 43" $10,000 semi-annually.
Dividends.-Initial div. on pref.. 1% pair_ Nov 10 1911. In 1912, at 105 and int. V. 97, p. 365.
Property.
1913 and 1914, 2%. In 1915, 31.4%. In 1916 and 1917,
-Owns electric generating stations with an installed capacity
Feb., 13%. None since. V. 106, p.2123; V. 108, p.268; 5%. In 1918, of 99,650 k.w. Through lease and contract the company's total available
V. 110, p.261. generating
Total accumulated dividends, 3831%.
capacity is brought up to 117,650 k.w.-V. 115, p. 1542.
EARNINGS.
-For year (ending Dec. 311021 report in V. 114,p. 1765):
ALLENTOWN & READING TRACTION CO.
Cal.
-A trolley road.
Operating Net after
Other Int.,Amort. Preferred
Balance,
Year- Revenues. Taxes, &c. Income. Disc.,&c. Dividends. Surplus.
ORGANIZATION.-Incorperated April 25 1898 and leased the Allentown & Reading Electric Street Ky. for 290 years from June 4 1898.
1921 -__34,514,686 51,154,951 3172,708 1917,550
1410,108 Feb.
On
1920._.. 4,480.815
6 1902 leased for 290 years the Kutztown & Fleetwood Street Fly.
839.082 173.249 898.494
113,835
ROAD.
-Operates 221 mules of railway. The road connects Allentown Controls the Kutztown Light, Heat & Power Co. Connects
Bethlehem, South Bethlehem, Hellertown, Nazareth, Siegfried, Northamp- Traction Co. tracks from Reading, thus forming a through linewith United
from Allenton, Copley, Cataaauqua, Egypt, Emaus, Macungie, Siatington. Quaker- town to Reading.
town, Perkasie. Lansdale, Norristown Ambler and Phila. 80,95 and 105-11).
Notice of an increase in fare from 5 to 6 cents, except
Tend 96 and 116-1b. girder rails. Owns a large amusement park about mid- and Rosedale, effective Jan. 1 1918, was flied with the between Reading
P. S. Comm. in
way between Allentown and Bethelehem. Owns 287 pass. cars and 66 freight Dec. 1917.
Receivership Denied.
and service cars. A 2.650-ft bridge oetween Allentown and So. Allentown
-On Aug. 11 1919 Judge Wagner denied the
was built by the controlled Allentown Bridge Co.(auth. stock $300,000) and tion of the stockholders of the Kutztown & Fleetwood Fly. Co. for a applicareceiver
was formally opened Nov. 14 1913. See V. 97, p. 1426. 1428: V. 98. p. 151 for the Allentown & Reading Traction Co. The action against the co. was
started in 1913. V. 109, p. 675
OFFICERS.-Pres., P. B. Sawyer; V.
-Ps., E. M. Young. C. E. Groom
STOCK AND BONDSte
beck; V. P. & Gen. Mgr., H. H. Patterson; Sec. & Treas., Chas. N. Wagnee:
tstanding. Maturitg.
Aud., W. L. Davis -V. 108. P. 268. 375;V. 109, p. 2263; V. 110. p. 261, Stock. 1750.000 (ear $50)
---- --------------$250,000
Anent & Kutz 1st M 1250,0001 1900
465, 2387; V. 112. p. 372, 1280: V. 113, p. 1053; V. 114, p. 1286, 1765.
5 g J-J
250,000 July 1 1930
e. $100,$500 & $1.000 _cpt J Interest at Fidelity Trust Co., Phila., trustee
(a) Easton Consolidated Electric.
5 g J-J
200.000 Jan 1 1932
In April 1913 the Le Ugh Valley Transit Co. acquired a controding In- First M Kutztown & Fieetw (it 1902
M0.000,guar p & L. _cpt 1
terest in the stock and has since acquired all stock except (24) directors
First consul mtge, $750,000 1902
)•
5 e J-J
300,000 July 1 1932
shares. V. 96. p. 1021.
g ($500& $1,000) c & r_cpt Int. at Integ. Tit. Ins.& Tr.Co.. Philaetrus.
Dividend payments were: July 1900. 311% on $10 paid In; Sept. 1901
5 M-N
163,000 May 1 1937
and March and Sept. 1902. 3% on $15 paid in; March 1903 (pale in July) Second consol mtge 3300,000 1907
($500 & $1,000)____c&r.tf Borks County Trust Co., Reading, trustee.
and Sept. 1903. 4% on $16 paid in. In Dec. 1905 declared a dividend of
Bonds.
-Of the $750,000 o new consols, $450.000 are reserved to retire
$2 50 and at same time called an assessment of $5 per share on the stock
prior
They are eubject to call at par since July 1 1917; no sinking
the dividend was credited on the assessment, making the stock 50% paid In fund.liens. first mortgage
The
bonds are redeemable at par
V.81, D. 1791. Casn dividends resumeu in Oct. 1906 with the payment or
EARNINGS.
%. V.83, P.687; 24% again paid April 1 1907 and 214% Oct. 1 1907 $86,401: other -For year ending June 30 1916, gross, $183,825; net.
income, 314.463; int., rentals, &c., $77,682; surp., $23.182.
then dividends were passed until Nov. 1911. when 2% was paid. In 1912
BOAD.-Operates
and 1913,4%; in 1914. May.2%. Beginning with June 1914 began paying 47.10 miles; 43 cars. 39.60 milers main line, 7.50 miles sidings-total,
1-3 of 1% monthly (V. 99. P. 300). Dividends no longer reported, as
OFFICE RS.-Pres., H. E. Ahrens, Reading; V.
-P., W. D. Wean; See..
entire stock is owned by Lehigh Valley Transit Co.
4. K. Hoffman, Hamburg: Tress.. Geo. B Shaffer. Reading* Supt • W. 1
ORGANIZATION.
-Consolidation by stock ownership of the Easton Bear, Kutztown.
-V.81, p. 1492; V 82, p. 216; V. 109. p. 675.
Transit Co., the Edison Illuminating Co. of Easton, and the Phillipsburg
(N. J.) Horse Car RR. Co. (name changed to Phillipsburg Transit Co.).
ALLIANCE, OHIO.
Incorporated in New Jersey March 11 1899. Also owns all the stock of
the Penn. Motor Co.
ST ARK ELECTRIC RR.
-An electric railroad.
Control.
-On April 8 1922 control teessel in to the hands of a local
Lease.
-In Mar. 1922 leased to the Lehigh Valley Transit Co. the property
syndiof the Easton Transit Co., a subsidiary.for 99 years. Compare V.114,p.1286 cate through the purchase of a m tjority of the stock. V. 114, p. 1892.
Consolidation of SuOsialaries.-Ou Jan. i ielki tile end) genet' ensue%
ORGANIZATION.
-Incorporated in Ohio and is a consolidation in Des.
Co.. the Easton & Bethlehem Transit Co.,the Easten Palm er & Bethlehem 1902 of the Alliance Electric Ry,and the Sr-ark
Electric RY.
Street Ry, and the Northampton Central Street Ry, were merged into the
Rate Increases.-In June
(new) Easton Transit Co.(V. 85, p. 1461) and in 1909 tile Easton & South charge a 6-cent fare; rate for1918 was authorized by the City Council to
tickets was increased from 25 for $1 to 20 for
Bethlehem Trans. Co. was also merged into the (new) Easton Transit On $1. V. 106, p. 2561. In Oct. 1920 a 7-cent fare,
with tickets at 16 for 31,
Stock, 12,150.000; all owned by Easton Consolidated Elec.
was being charged. In 1918 was with. to increase
For decision of the Northampton County Court at Easton, Pa., on Dec. Sept. 1920 freight rates were further increased. freight rates by 25%. In
28 1914 favorable to the Edison Illuminating Co.(a subsidiary), see Lehigh
STOCK AND BONDS.
Date.
Interest. Outstanding. efaturity.
Valley Transit Co. In V. 100, p. 140.
Stock. $1,500.000 MOO) ___
Q-J
$1,250.000
See text
STOCK AND BONDS.
-The collateral trust 5s were In Jan. 1900 listed First mtge. $1.000.000, gold( 1903 6 g J-J
792.000 Jan, 1 1923
On the Philadelphia Stock Exchange.
41.000) sinking fund. call-{Citizons' Say. & Tr. Co., Cleveland, trustee.
DLitt.
Interest. Outstanding. Maturity
able at 105 _
_ ..c tf I Int at (Jilted Bank ec Say. Co., Cleveland.
Stock 31,500.000 (par $50)_ _Stock (50% pald in)all owned by L. V.T.Co
-Sinking fund 2% per ann. $208.000 have been retired.
Bonds.
Collateral trust $1.300,000 gI 1899
Dividends -First dive j%,paid July 1908: j% paid quer. to and incl.
6 g M-N 21,237,000 May 1 194t
($1,000 and $500)Witt Interest at Girard Trust Co.. Phila.. trustee Jan. 1916. In April 1916, 1%;same rate quer. to and incl. Apr. 1917; none
Pennsylvania Motor Co jstf 1891
6 A -0
60.000 Apr 1 1941 to Oct. 1919, when a div. of 1% was paid. Same rate has been paid
mort. (cannot be called)tf 1 Lack. Tr.& Safe Dep.On., Scranton. truster larly quarterly since to and incl. July 1922. In April 1910 also a regustock
Eas Palmer & Beth let mtgef 1898
6 ./ -J
200,000 Jan 1 1939 dividend of 20%. V. 90, p. 448, 700. In Jan. 1921 an extra div. of 4 of
gold $200.000
1% was paid.
U.
tflU S. Mtg. & Tr.(3o., N V.. trustee.
Eas&So Beth Tr 1st M $500,-1 1906
EARNINGS.
-For years ending Dec. 31:
406,000 July 1 1930
5 g J-J
000 guar gold 41.000)cstfIGtrard Trust Co.. Philadeephia. trustee.
Gross.
YearNet.
Divs.
Fixed Charges.
Balance.
$598,810
x$111.501
$76.114
$50.000 def.$11,610
Bonds -The cell, bonds have no s. f. and are not subject to can. Of the 1921
627,353
83.652
146,655
total of 41.300.000. $60,000 Is reserved to retire the Penn. Motor bonds 1920 _
56,250 surp.6.752
x After allowing for certain adjustments which were incl. in operating exp.
$2,000 in treas. and $1,000 reserved for small amt. of outstanding scrip of
Ed. III. Co. Issue is secured by pledge of $2,150.000 stock (entire Issue) of
ROAD.
-Operates 34 miles of track from Canton to Salem, including
(new) Easton Transit Co.. 12.317 shares (entire issue) of Edison Ilium
Alliance City lines. Standard gauge. 87 and 70-lb. T rails
stock and 2.400 shares (the entire issue) of Penn. Motor stock. Int. ot 90-lb. girder rails. Total mileage, including double track. 36 and 70 and
miles.
Keaton & So. Beth. Transit bonds is payable at office of Edw. B. Smith &
OFFICERS.
-Pros., M. S. Milbourne: V.-P., C. Y. K. ty: Sec., William
Co., Platia.. or at eonapany's office. They are guar. p. & I. by endersomeni E. Davis; Treas., S. L. Sturgeon.
-V. 106, p. 2561; V. 107, p. 83, 403:
by the Easton Consol. Elec. A sinking fund of S5.000 o. a. commenced V. 114, p. 1892, 2117; V. 115, p. 437.




I.

ELECTRIC RAILWAYS

OCT., 1922.]

5

Portland line, 32 miles; grand total, 453 miles. Through cars are run be&
tween Indianapolis and Fort Wayne in conjunction with the Fort Wayne is
service between
Nor. Ind Tree. Co. Provides package freightt and Peru, andIndlanappl
to all other
is and Loganspor
and Muncie and Indianapol
between Inpoints on the system. Operates through freight service cars are run
dianapolis and Port Wayne. By contract until Nov. 1933
In Indianapolis. Carries express
over tracks of Indianapolis Street Ry. Express Co. A large central
ANDERSON, IND.
matter per contract with Wells, Fargo
-A trolley road.
UNION TRACTION CO. OF INDIAN A.
power station, with necessary storage batteries at Anderson, operated on
on May 13 1912 as a consolidation of the a three-phase system, with 19 sub-stations, likewise equipped with storage
ORGANIZATION.-Tncorp
Indiana
May 28 1903) and the
old Union Traction Co. of Indiana (hacorp. plan In V. 94. p. 1119. 1185: V
batteries, operates entire system.
Union Trac. Co.(incorp. June 9 1903). per was materially reduced. The
-95 city cars, 53 suburban, 93 interurban. 30 freight
EQUIPMENT.
95. p. 819; and as a result of which capitalin a decision by the Supreme and 89 service cars; total, 360.
legality of the consolidation was upheld
-P.. Philip
V.
in the fall of 1915. The Indiana Union Traction Co
.-Pres., A. W. Brady, Anderson; ILA. Nicholl. Matter.
OFFICERS
Court of Indiana
General
'Co. (V. 81, p
Sec. & Treas., Walter Shroyer; Gen. Mgr., p. 1288, 22.12, 2580;
bad previously acquired the Indiana Northern Traction
and Muncie Marion;
-V. 113, p. 732; V. 114,
Muncie & Union City Traction Co. (V. 83. p. 96)company was offices, Anderson, Ind.
1848).
805. 869, 1041). The latter
p. 310, 989, 1211, 1533.
Hartf. & Ft. W. Ry.(V. S2, p.
to operating V. 115,
Co.
leased to the Indiana Union Trac. at a rental On addition Ft. W. Ry.
(1) Indianapolis Newcastle & Eastern Traction
&
25 1912 for 999 years.
up., int. on bonds. &c.). equivalent to 5%,: on Mun. Hartf. Co. of Indiana
old Union Trac.
Leased to Union Traction Co. of Indiana on Oct.
$500.000 cum. prof. stock; V.83. p. 96. The
payment of all taxes, interest on bonds, a sum
for the
1899)
was a censolidation of the Union Trac. Co. of Indiana (incorp. in JuneLeases ['he lease provides on the pref. stock, and a definite annual payment of
amivalent to 5%
and the Indianapolis Northern Trac. Co. (incorp. in April 1902).
up to $10,420 a year. is
61.050 on the corn. stock. A further amount,100. p. 975.
the Broad Ripple Natatorium Co.
conditions. Compare V.
of the ¶50.000
Also owns the $100.000 let M.fis outstanding and ¶49.500 interest in the payable under certain& Portland Traction Co. for 999 years from June 30
Leases the Muncie
& Power Co. and a one-fourth
stock of the Traction Light
United Tractions Coal Co., which owns and leases valuable coal lands to 1916;see terms below.
1912 as successor to
ORGANIZATION.-Incorp. in Indiana on June 10at foreclosure. Has
insure the co. an adequate coal supply. (See Shirley Realty Co. of Ind
sold
in V. 104, p. 1805.)
the Indianapolis Newcastle & Toledo Elec. By..
except in corporate limits,
Ttte Indianapolis Northern Traction assumed payment of the prin. and private right-of-way minimum width 66 ft.. Under favorable contract
int. of half 4200,000; of the bonds of tbe Broad Ripple Traction Co. (see where shortest franchise expires Apr. 7 1933. operates through city into
under Indianapolis).
with Ind. Trac. & Term. Co. extending to 1933.
Leases Indianapolis Newcastle & East. Trac. Co.for 99 years from Oct. 25 Indianapolis interurban terminal
2580.
21 1914 and corn. & pref. stocks of the
-See under Union Traction Co. above and V.114. P.
1912. Lease modified on Aug.
Bond Extension.
Interest. Outstanding. Maturity.
Ind. New. & E. Trac. Co. formerly held were transferred in satisfaction
STOCK AND BONDS- Date.
stock,
$500,000 See text.
obligations incurred in leasing that company and acquiring thatfurther Common 5500.000 (3100)of
500,000 See text.
and in building the Muncie-Newcastle line, and in consideration of about Prof $500.000 5% cum ($100)1.200.000 June 1 1932
advances for improving power facilities for that line, a total of
mtge $1,500,000 gold), 1912 6 g J-D Trust Co.. Phila.. Trustee
(V. 100, p. 975). Lease again modified as of June 30 1916 in First
$521,000
c*tf'Int. at Fidelity
51.000
connection with the lease of the Muncie & Portland Traction Co. to the
upon fulfilment
-Remaining 1st M. bonds may be ,issued betterments or acBonds.
Ind. Newc. & Eastern Trac. Co., which see below.
impts.,
to certain covenants for 75% of cost of extensions p. 1695. No sink. fund.
the company
-In Dec. 1917 the Ind P. S. Comm. permittedper mile, commu- quisition of unencumbered properties. V. 94,
Fares.
increase the rate for mileage books on its lines to 2 cents school passengers Originally matured June 11919, but were extended to June 1 1922 and again
tation tickets to 1% cents per mile (from 1 q cents) and by the Ind. P. S. to June 1 1932 at 6%. The extended bonds are red. at 105 after Juno 1.
1% less for each subseto 1 1-5 cents a mile. Effective June 10 1918, was auth.
1925 to and incl. June 1 1927, and thereafter at
Comm. to increase fares from 2 to 2% cents per mile. V. 106, p. 2346. quent year, and par during the last year of extension, together with int.
interurban
On Jan. 10 1919 was auth. by the Ind. P. S. Comm. to increase July 1 1920 V. 114, p. 2580.
Effective
-V. 94, p, 1695;
rates from 2% to 2% cents per mile V. 108. p. 172. cents per mile. See
-Included in Union Traction Co. of Indiana. p. 2629; V. 114,
ROAD.
108,
the co. was auth. to increase passenger fares to 3
is and V. 96, p. 135; V. 100, p. 982; V. 102, p. 2341; V.
V. 111. p. 75. Effective Jan. 1 1921, cash fares between Indianapol 1922 P. 2580.
Broad Ripple were raised from 5 to 10 cents. V. 112. p. 63. In Sept.1211.
-A trolley road.
p.
(a) The Muncie & Portland Traction.
a reduction in certain interurban fares was put into effect. V. 115, a mile
charge 3 cents
-Incorporated July 1905 in Indiana. Franchises in
ORGANIZATION.
The Ind. P. S. Comm. in Sept. 1922 auth. the co. to city of Indianapolis.
years; in counties perpetual.
for rides within the
cities and towns 50
with a minimum of 10 cents
to the Indianapolis
-Was leased as of June 30 1916 for 999 years
Lease.
V. 115, p. 153.3.
therewith the co.'s capitalAug., Oct. and
Rates.
Newcastle & Eastern Trac. Co. In connection of one class. to $500,000
-Freight and express rates were advanced in
stock, all
$1.000.000
Nov. 1920
the exten- ization was changed from
for the payment of
-On June 14 1919 the Ind. P. S. Comm. approved 6% (com- preferred and $500,000 common. The lease provides
Refinancing.
definite annual payment
11022 at
all taxes, a sum equal to 5% on the pref. stock, a
sion of $4,623,000 1st gen.M 5s due July 1 1919 to July
Ind. New Castle & Eastern Trac of 14.530 and the payment of a further amount up to $17,370 a year conpare V. 108. p. 2434) and of $1,200.000
Both these issues
conditions.
Co. 6% bonds due June 1 1919 to June 1 1922 at 6%.
V. 115, p. 310. tingent upon certain
-P., W. C. Ball; Sec., G. A. Ballwere re-extended for a period of 10 years. V.114. p. 2580: City By. 6s,
-Pros., E. B. Ball; V.
OFFICERS.
$328,000 Marion
Jr.. AnderThe Comm. also approved the extension of 108.p. 2630.
F. 0. Ball, all of Muncie, Ind.; Asst. Sec.. W. H. Forse
Treas.,
1901.
due May 1 1919 to May 11024 at 6%. V.
1 1919 to
-V.82. p. 1438; V. 102, p. 2342; V. 106. p. 1037.
The co. also issued $150.000 3-Yr. promissory notes dated July secured ton, Ind.
The new notes are
replace a similar issue due on that date.
of Shirley Realty
11540,000 par value of the co's stock, 118.017 com. stock
ANNISTON, ALA.
Co. V.
On. and $25,000 1st Mtge.6s of 1928 of Traction. Light & Power
ANNISTON ELECTRIC & GAS CO.
108, D. 2630.
of the
Merged in March 1915 with the Alabama Power Co.. a subsidiary
Interest. Outstanding. Maturity
Date.
our "Ry. &
STOCK AND BONDS.
Alabama Trac.. Lt. & Pow. Co.. for statement of which see
15.000.000
Common. $5,000,000
See text Industrial Section."
1,000.000
A-0
1.1 prof. 51.000,000,5% cum_ ____
See text
3,000.000
J-J 10
116 pref. 83.000.000 (see text)_ ____
1,620,000 July 1 1933
5 g A-0
Ind Un Traction let M 15.-1 1903
ASBURY PARS, N. J.
000,000 (11,000) gold__ tf(interest at Girard Trust Co.. Phila.. trustee
-Trolley.
ATLANTIC COAST ELECTRIC R Y.
4,623 000 July 1 1932
Union Tr Co of Ind let gen111 1899 6 g J-J
New York, trustee
-Incorporated in New Jersey on Dec. 8 1905 as sucORGANIZATION.
of
$5.000.000g($1.000)c&r.tf f Equitable Tr. Co..
150.000 July 1 1923 cessor to the Atlantic Coast Electric Railroad Co., sold under foreclosure of
6%
Collateral trust notes
24,000
the general mortgage of the latter. Leases the Seashore Electric Ry.
Car trust ctfs Series A
36.000 Dec 1 1927 Asbury Park until June 6 1937 at $10,000 per year and owns $150,000 of the
St Ry (Mun) 1st M1 1897 6 g J-D
Citizens'
(making net rental $2.500),
of
$250.000 s f sub to call 105_ fInterest at Guar. Trust & Safe Deposit Co. $200.000 total capital stock thethat company Long Branch Ry. and of the
West End &
and owns all of the stock of
col Philadelphia. trustee.
($500 and $1,000)
328,000 May 1 1924 Asbury Park & Sea Girt RR.; the former is leased from Aug. 3 1896 until
6 g M-N
M 1400,000 1895
Marion City 1st
stock
July 17 1945 at a nominal rental, and the latter for 99 years at 6% on
ctf Equitable Trust Co., New York, trustee.
gold ($1,000)
5,000.000 July 1 1932 from Aug. 27 1898; both stock and bonds of Asb. Park & S. G. are owned.
5 g J-J
Indianapolis North Trac 1st i 1902
whict3
Also entire stock (5100,000) of the Atlantic Coast Electric Light Co., Ocean
quitable Trust Co.. New York, trustee.
mtge $5,000.000 g ($1,000)1E
supplies the electric lights of Asbury Park, Ailenhurst, Belmar,
guar p & 1 by Un Tracc*tf
500.000 Oct 1 1933 Beach, Como and Spring Lake. The Seacoast Trac. Co.(capital $100,000).
5 g A-0
Indiana North Trac let name{ 1903
the Atlantis
at Trenton (N. J.) Trust & Safe running from Belmar to Spring Lake,2 miles, has been leased to Franchise in
1500.000 gold ($100. $500 Interest Co.. trustee.
Coast Elec. Ry. for 99 year.); its stock and bonds are owned.
DepoLit
c*tf
and $1,000) guar
See text Belmar expires in 1947; in Asbury Park in 1937; in Long Branch, some ex500,000
5%
cum__ ____
M II & Ft W pref stock
916.000 Jan 1 1935 pire in 1945 and others are perpetual; in Ocean Township,perpetual; in Sea
5 g J-.1
-)1905
first mtge Si,
do ' do
of Seacoast Trac Co.are perpetual.
000.000 gold (11.,000)_0'tf Int. at Guard. Say.& Tr. Co.. Cloy., trustee flirt,expire in 1926 and 1956;franchises
the com925,000 July 1 1938
5 g J-J
1906
-In Dec. 1918 the N. J. P. U. Comm., in acting upon
Fares.
Muncie & Un 0 M 5925,0001
Co.. Phila.. trustee.
fare, auth. an increase in fares from 5 to 6
Ott Int. at Fidelity Trust
for a
pany's
guar gold (51.000)
31,000 Mar 1 1931 cents. application2187. 7-cent 1920 the co. applied for auth. to increase
5 M-S
In July
atorium 1stM 1 ___ _
V. 107. p.
Broad RippleNat
Tr. Co., Indianan., trustee fares to 8 cents but the P. U. Comm. permitted an advance to 7 cents only.
Guar. by Un.Tr.Co.of Ind.)Int. at Security
m
from 1% semi-annually in V. 111, p. 388.
Stock.-Divs. on 2d pref. stock are cu.
1Q18 and thereafter
Interest. Outstanding. Maturity.
STOCK AND BONDS- Date.
11113. sealing upward to 3% semi-annually in July
See text
bonds of 1903, 13,380.000
$1,000,000
-Of the Indiana Union Tractionnts, but under terms of con- Stock 11,000.000 ($100)_
Bonds.
800,000 May 1948
improveme
5 M-N
1895
1
were reserved for extensions and
been canceled. $494.000 First mortgage gold $1,000 (Int. at Columbia Trust Co.. N. Y.. Trustee.
ntf
000
solidation agreement of 1912 these bonds have in amount outstanding).
1.000.000 July 1 1948
5 g J-J
are held alive in the sinking fund (included bonds, became operative General mortgage 11,000,0001 1906
tee.
g
ctf'Interest at Central Trust Co., N.Y.,Trus
gold ($1,000)
Sinking fund. 1%% per annum of outstandinbonds at not above 105 and
200.000
the
5
1904. Fund is to be invested in int. on any int. date. $173.000 Seashore Electric Ry stock__
on July 1
200,000 Jan. 11023
6 g J-J
105 and
1892
Int., and bonds may be drawn at
including 1150,000 Seashore Electric Ry first)
Gen. M.bonds are in treasury, bonds are
tf(Int. at N. Y. Trust Co., N.Y. June 1 1948
mortgage $200,000
Union Trac. Co.of I.
201.000
reserved
remaining
__
1
pledged to secure the collateral trust notes: They originally bore interest Atlantic Coast Electric Light5 J-D Park & Ocean Grove Bank.
1013.
first mortgage gold----ntt It. at Asbury
for underlying bonds. See V. 71. p.
to July 1 1922 at 6% ,
Asb. Pk. Morton Tr. Co., N.Y.,Trustee.
at 5% and matured July 1 1919, but were extended
36.000
The extended bonds are Neptune Electric Co
6%
and again to July 1 1932 at the same rate of int.
premium in the
to retire a like
Bonds.
-Of the $1,000,000 1st 5s. $200.000 are reserved at 105. They
red, at any time after 3 years on 60 (lays' notice at a 5% and par during
call
year,
5th years and 1% less for each subsequentint. V. 115, p. 310. amount of Seashore Ry. its. The latter are subject to from year to year.
4th and
with accrued
but have been extended
the last year of the extension, together
The Indiana fell due originally in Jan. 1917,
Asbury Park & Sea
Bonds are listed on the Philadelphia Stock Exchange. interest on six Entire bonds (550.000) and stock ($100,000) of the
Co. ($100.000
105 and
Northern Traction bonds are subject to call atand interest, by Indiana Girt and entire bonds and stock of the Seacoast Traction
general mortgage.
, principal
deposited under the new
weeks' notice. They are guaranteed
Muncie Hartford & Fort Wayne each) are -In 1906 and 1907, 6%. In 1908 to 1916, 3%; none since.
Dividends.
Union Traction Co. V. 82. p. 805. The at par. A sinking fund on those
Pleasure
bonds can be called Jan. 1 1925, or after, began July 1 1905. See V. 80,
-Belt line in Asbury Park, 5.85 miles; Asbury Park to
ROAD.
bonds of 23 % of gross earnings per annum Muncie & Union City bonds Bay and North Long Branch. 14.60 miles; Asbury Park to Manasquan,
384,000 have been retired. The int., by Indiana Union Trac- 14.16 miles: total track, 36.08 miles. Connects at Pleasure Bay with tbs
P• 1059.
are subject to call at 105 and guar., prin. and
originally matured May 1 1915, Long Branch Steamboat Co.
tion. The Marion Oity first mtge. bonds to May 1 1921. The collateral
-Years ending Dec. 31:
REPORT.
1916.
but were extended to May 11919, and again
1917.
1918.
1919.
1920.
1921.
amount of Anderson Elec. St. Ry.
trust notes were issued to refund a like fell due July 1 1917. but were ex- Gross earnings__3677,206 $515.368 $458,332 8406,967 5424,934 3420,708
which matured in 1912. They
373,711 273.299
bonds
again to July 1 1922, and further extended to Oper. expenses_ _x569.562 x480.595 x336,221 x393,517
tended to July 1 1919, and
$147,409
July 1 1923.
Net earnings_ _3107,643 $34,773 $122,111 $13,450 551.224
to April 1914. None since.
-5% was paid on first pref. stock since July 1912.
Dividends.
x Includes taxes.
-V.81,
pref. stock have not been paid
.-Pres., S. P. Hazelrigg; Sec. & Treas., G. B. Cade.
OFFICERS
Divs, on second
388.
Muncie-Portland line:
IL 1722; V. 106, p. 2755; V. 107, p. 801, 2187; V. 111. P.
-For cal. year, incl. Other
REPORT.
Sinking Balance,
Bond
Net (after
Gross
Calendar
12
Sur2 us.
Income. Int., &c. Fund. sr s ip,71
Year- Earnings. Taxes).
$917,674
ASHTABULA, OHIO.
$3,710,606 $938,664 $21,281
1921
sr.30,080
917.550 ______
13.114
934.516
4.095,755
1920
ASHTABULA RAPID TRANSIT CO.
against 17,242,676 in 1920.
A. Robison. Prem.
Passengers carried in 1921, 14.679,548,
In Feb. 1907 control of this road was acquired by L.
Muncie-Anderson-Indianapolis,
people
-Owns the following lines: 53% miles; Alexandria-Elwood, of the Penn. & Ohio By., and associates. On April 24 1922 the2115.
'"- ROA 1).
V. 114, p.
miles; Anderson-Marion-Wabash.
purchase the property of the co. for $150,000. Chas. Currie were
561.4
Indtanapolls-Kokomo-Logansport. 80 miles; Kokomo voted to
A. R. Raymer and
-In Aug. 1920
Tipton, 20 miles;
Receivership.
miles; Anderson-Middletown.
details.
receivers for the company. See V. 111, p. 1082 for
Peru, 19% miles; Muncie-Union City, 33
to
lines in Anderson; 14t4 miles in Marion: appointed
-On Nov. 8 1921 the voters defeated a proposition inCity Purchase.
94 miles; also 10 miles of city in Elwood; total, 272 miles of interurban
for $197,000 and the cancellation of
16 mike in Muncie. and 4 miles
-Hartford City-Bluffton purchase the company's property
and 443.4 miles of city lines. Also leases Muncie821.4 miles, and Muncie- debtedness to the city. V. 113, p. 2184. Subsequently the City Council
line,
line. 42 miles; Indianapolis-Newcastle-Muncie

AMSTERDAM, N. Y,

D CO.
FONDA JOHNSTOWN & GLOVERSVILLE RAILROA Sec."
Industrial
steam and electric road. See statement in "Railway &




6

ELECTRIC RAILWAYS

[VoL. 115.

voted to purchase theproperty for $150,000 and this
proposition was to
REPORT.
-Of combined properties:
have been voted on at a referendum to have been held April
24
Gross
114, p. 2185. In 1920 a bond issue of $350,000 was voted for the 1922. V. Jalendar
Net (after
Other Int.. Rentals, Balance,
purchase, 192
YearEarnings.
but at that time the laws were such that the bonds covered
Taxes).
Income. Sk. Fds..
itself and they were not readily salable. Compare V. 110, only the utility
$14,080.904 54.687.343 $350,921 $3,060.1&c. Surplus.
33 $1,978,132
p. 2191; V. 112, 1920
p. 2189.
13,051,997
3,952,868
164.290
2,814,964
1.302.195
19
10,592,498 3,688.412
139,786
2.598.895
ORGANIZATION.
1.229,303
-Chartered Oct. 7 1890.
.
19
Passengers carried in 1921. 93.557.131, against
Fare Increase.
97.337.760 in 1920.
-In Oct. 1920 fares were raised from 5 to 8 cents cash with
PlitiPERTY.-Total miles single track, 247,303.
4 tickets for 30 cents. V. 111, p. 1750.
Standard gauge.
70. 80 and 90-1b. rails. Owns water power sites in Northeas
The $75,000 1st Mtge. 6s, due July 11921. were not retired
tern Georgia
apable of an ultimate d 3relopment of over 577,900
at maturity
but have been extended indefinitely.
ment. 166,800 h. p. Transmission and distributingh. p.; present developlines aggregate 68-1.76
miles. The interurban line from Atlanta
ITOCK AND BONDS- Date.
to Stone
Interest. Outstanding.
Nov. 1913. The hydro-dec. plant at Tallulah Falls Mtn. was completed in
civock. $500.000
was
$500,000
April 11914. The sixth and last unit of 12.000 k. w. placed in operation
1st mtge. $75,000, gold' 1891 6 g J-J
of this development
75.000
See text was put into operation in March 1919. See also
($1.000)
c*Scr 'Int. at Central Trust Co., Trustee, N. Y.
OFFJOERS.-Chair. o1Board. H. M. AtkinsonV. 114, p. 78.
2d mtge. $500.000
; Pres., P. S. Arkwright;
1907 5 M-S
307.000 Sept 15 1927 V.
-P., G. NV. Brine: V.
-P.. C. D. Aci.it; Gen.
eitizens S. & T. Co.,
See. W. H. Wright; Treas., I. S. Mitchell. °per. Mgr., Frank L. Butlar:
Bonds.
-375,000 2d mtge. bonds are reserved for Cleveland, trustee.
Jr.; And.,
prior Ilene. 1st M. Atlanta.
-V. 113, p. 1573, 1771, 2185. 2818; V. 114. p. F. A. Brine; all of
bonds originally matured July 1 1911 but were extended
78, 851, 947, 1054,
10 3 sars to July 1 1062, 1407, 1765, 2115, 2240, 2468:
1921. In 1921 they were extended indefinitely.
V. 115, p. 73, 183, 988, 1320, 1631.
EARNINGS.
-The Receiver reports for the cal. year 1921, gross,
(1) Georgia Railway & Electric Co.
$98,810;
deficit, after taxes, $3,310.
Lease.
-On Jan. 30 1912 the stockholders of the Georgia
By.& Elec. 0o.
Ito A -Operates 5 miles of track on 54 miles
approved the 999
-year lease from
of street.
Co . which provides that the latterJan. 1 1912 to the Georgia Ry. & Power
OFFICERS.-Pres. & Treas., L. A. Robison, Clevelan
company guarantee all the fixed
d; Sec.. J.
Shaw; Supt., Robert Hughes. Ashtabula.
-V. 110. p. 2191: V. 111. p. 1082. and dive, on pref. stock and dive. of 8% on com, stock, the bolder charges
of each
1750; V. 112, p. 2189; V. 113, p. 2184; V. 114,
$100 corn. having received as additional considera
p. 1285, 2115.
in 1st pref and $125 in 2d pref. stock of Georgia tion for the lease.$3.12
Ely. & Power Co., V.94,
p. 982. 1119. The shares of toe Atlanta Gas Light
PENNSYLVANIA & 01
-HO TRACTION CO.
-A troIley road.
(7o. and of the Atlanta
Northern Ely. are not included in the premises
ORGANIZATION.
demised under the lease.
-Organized on Dec.
Pennsylvania & Ohio By. Co. which was sold 1 1919. as successor to the but the lessor assigned and transferred to the lessee, for and during the term
at receiver's sale Sept. 8 1919 of the lease, the income arising from any
to the bondholders' committee. V. 109, p.
and all of the said shares.
ORGANIZATION.-Incorp. in Georgia on
Ry. Co. see "Electric Railway" Supplement of 776, 1367. For history of
April
1902 took over the Atlanta Ry. & Power Co.,Jan. 28 1902, and on April 1
Capital stock $400,000, 1st mtge bonds 5100.000 24 1920.
the
the Georgia Electric Light Co. and the AtlantaAtlanta Rap. Tran Co..
authorized.
EARNINGS.
-For calendar year 1921, gross,
Steam Co. Franchise
In 1920, gross. $115,918; net., def., $21,944. $141,537; net,sur., $2,785. for the greater part perpetual; others 50 years from August 1899. Comprises the street railway, electric-light, gas,
ROAD.
-Owns and operates westward from Conneau
power and steam-heating
t to Kingsville Interests of Atlanta and Fulton County. By terms
and Ashtabula, 13 miles, and south from
of the ordinance perAshtabula to Jefferson, 10 mitting consolidation, the company paid the
miles: total trackage. 23.5 miles.
lash, and agreed to pay a tax on gross receipts city of Atlanta $50.000 in
OFFICERS.-Pres. Thos. McGovern; Gen. Mgr.,
of 1% for first
Palmer Wardman; for the next 20 years and 3% thereafter. V. 74 , p. 397. 727. 3 years, 2%
Sec. & Treas., W. W. Howes.
In Oct. 1902
-V. 111, p. 1662.
both pref. and corn. stock were listed on Boston
They are also listed on the Louisville Exchange Stock Exch. V.75. p.849.
In June 1903 acquired the entire capital stock
ATLANTA, GA.
($600,000 6% pref. and
$1.014.625 com )of the Atlanta Gas Light Co., comprisi
ng the gas business
GEORGIA RAILWAY & POWER CO.
of Atlanta and vicinity, by exchange of stock,
-(See Map, page 7.)
$ for S. V. 76, p. 1406.
The gas company,
ORGANIZATION.-Incorp. in Georgia on
Oct. 16 1911 to take over entire capital stock however, maintains a separate organization. Also owns
she following properties (V. 93. p. 1191.
of the Atlanta Northern Ry
1725):
Atlanta Hydro-Elec. Power Co.
In May 1921 was auth. to issue $198,600 bonds for impts.
Inter-State Power Co.
already made.
V. 112. p 2083.
Atlanta Water & Elec. Power Co.
Savannah River Power Co.
Georgia Power Co.
STOOK AND BONDS- Date.
Interest. Outstanding. Maturity.
South Carolina Power Co.
In June 1916 purchased the Gainesville fly.
9-F
$8,514,600
& Powee Co. (see p. 45 of Jommon ($100)
See text
"El Ry. Section" for May 1916) for
about $180.000 V. 103. p. 144. Preferred 5% non-cumulative
5 I.2-J
2,400.000
See text
In Jan. 1917 the company acquired all the
$2.400,000 (par $100)
interests of the Franklin Light A
Pow, Co., Broad Riv. Pow. Co. and the
5 it J-J
5 970.000 Jan 1 1949
J. B. McCrary Co. at Hartwell, Ga. ief & imp mtge $20,000,000 1909
Also leases the Georgia Railway & Electric
gold 31.000)
c* Int. at Amer. Trust Co.. Boston. Trustee.
Co. (see below).
In Sept. 1920 was auth. by the RR. Comm.
First cons mtge $11.000.000 1902
5.560.000 Jan 1 1932
5 g J-J
to increase light and power
rates, effective Oct. 1 1920. In Sept.
gold sink fund (51.000). _c* Int. at
of 7 cents for passenger fares except 1920 the RR. Comm. auth. a charge itlanta Street Railroad first1890 Old Colony Trust Co., Boston, True.
1
such
6g
225.000
tween the co. and the cities of Decatur fares as are fixed by contract bemortgage gold (par $1,000) Int, payable I-JN. Y. at Fourth July 1 1930
in
and College Park. V. 111, p. 1369.
Nat. Bank.
Fares in Gainesville were r alsed to 8
1899entrai IZust Co., N Y., Trustee.
0
5gJ j
cents in Sept. 1920. V. 111, p. 1661. id Cons
In April 1919 the City Council of
St Ry 1st consM$2.1,800,000 Jan 1 1939
Decatur, Oa., denied the company's
petition to have the 5
500.000 g($1.000each) csi Int. payable in N. Y.at, N. Y. Trust
-cent cash fare contract suspended and to permit
Co. and
the
company to charge a 6-cent fare. V.
at Mere. Tr. & Dep. Co. of Bait.. Trust.
108, p. 1721. In Dec. 1920 Judge leorgia Elec
ee
John B. Hutcheson denied the
Light Co let 1%q 1900
,
5 g J-J
1.350.000 July 1 1930
increase in fares from 5 centsco.'s motion for a supersedeas permitting an
ca11 0 . 00, gold,subject to Interest at Old Colony
52, at 1 0
0 0 05
Trust Co., Boston.
On Sept. 27 1921 the Georgia to 7 cents in Decatur. V. 111, p. 2520.
c*
Trustee.
Supreme Court handed down a decision itianta
upholding the validity of contracts
Gas-Light CO. let M . 1897
5 g J-D
between the co. and the towns of
College Park and Decatur under which
$1,150,000, g ($1,000).._c* Interest at New York 1,150,000 June 1 1947
fares are limited in those places
Trust Co.. Trustee, or
to 5 cents. V. 113, p. 1573. As a
Bank of Scotland, London Eng.
result of this decision the co. was com- Atlanta Gas
pelled to refund 2 cents on each fare collected
Lt ref. & impt.1 1920
6 A-0
in College Park since late in
1970
1920 when the company commenced
$5,000,000 call. at 106 & int Int. at Girard Trust 1,043,000
Co. Phila.
Supreme Court again handed down acharging 7 cerv.s. On May 1 1922 the
Bunds.-Of the $11,000.000 Georgia
contracts between the company and decision upholding the validity of the (closed mtge.) of 1902, $3,850.000 are Railway & Electric Company bonds
reserved to retire underlying liens;
the city of College Park and the town balance has
of Decatur. V. 113, p. 2818: V.
been retired. Red.
114,
2324. Gas rates in Sept. 1920 were p. 2115. Compare V. III, p. 2011, sinking fund became operative in on any int, date at 110 and int. A
1907
A further increase in gas rates was raised about 25%. V. 111, p. 1369. each year from 1907 to 1911, inclusive which retires $10,000 of bonds
authorized March 1 1921. Effective 1916,
; $25.000
June 1 1921 the Commission authorize
inclusive. and $50.000 per annum thereafter. per annum from 1912 to
d the commny to re-Ince , rate A sinking
See V.
he
for gas 25 cents per 1,000 cu. ft.
fund of $6 60 per $1,000 bond on the Atlanta 74. p. 629. 727.
V. 112, p. 2413. In Feb. 1922, the Mtge. 5s is
Gas Lt.
Federal Court denied the petition of
ooerative; $348.000 bonds in fund. $20,000 Atlanta Co. let
the
Gas Lt.
Ga. RR. Comm. from cutting the gas co. for an order preventing the ref. & impt. 6s held in sinking fund. Atl.
rate in Atlanta from $1 65 per as a whole
Consol. St.
1,000 cu. ft. to $1 55, with proportionate
at 1074. but $25.000 in Jan. of each year By. bonds are red,
cuts for suburban towns. V. at 105. Of the
for sinking fund at
114. p. 626. The co. has appealed from this
ref. &
decision to the U. S. Supreme prior liens (includin iinpt. mtge. bonds, $11,230,000 are reserved to retire
Court. V. 114, p. 947.
g the $400.000
mainder for extensions and improvem Atlanta & Northern bonds) and reValuation.-spe V. 113. p. 1772: V. 114.
ents up to 75% of actual cost. Bonds
D. 1765:
are subject to call on 50 days' notice
In Oct 1921 the co. brought out $4,000,000 20-3-r. V. 115,n. 73.
at 105 and int.; a sinking fund
7% Gen. Mtge. bonds, 1% of bonds out
proceeds being used for the payment of
began in 1919. $998,000 were held in treasury of Ga. of
the $2,500.000 7% Coll. Notes & Pow. Co. Dec.
By.
due Aug. 1 1922, to reimburse the co. in
31 1921. $449,000 retired by sinking fund.
Tart for add'ns. & exts. and for
Dividends.
general corporate purposes. V. 113. p.
-Dividends are now paid
1772.
of dividends paid prior to lease, see under lease (see above). For record
In May 1922 the company applied to the Georgia
this section for January 1917.
Railroad Comm. for
EARNINGS.
authority to issue $3,500.000 1st Mtge.
-Included in report of Georgia Ry. &
6% 25
-year bonds. V. 114, p. 2468.
ROAD.
-Owns 213.858 miles of track (single-track Power Co. above.
Compare V. 114, p. 2115, 2240.
basis). 70. 80 and
90-lb rails. 325 paasenzer and 36 other cars.
In Aug. 1922 the stockholders voted to create
an
OFFICERS.-Pres., Thos. K. Glenn; V. 2 power stations
pref. stock, Series 1922, and holders of the $2,000,0 issue of 8% cum. 1st
-P., J. C. Hallman; Sec. &
00
pref. stock were offered in exchange, share for share, outstanding 6% 1st Treas., NV. H. Wright.
-V. 109, p. 981; V. 110, p. 970, 1289; V. 112,P.2083.
stock. $500,000 additional of the new 8% stock wasthe new 1st pref. 8%
(a) Atlanta Northern Railway Co.
-A trolley road.
burse the company for acquisitions, extensions, &c. brought out to reimORGANIZATION.
-Entire stock is owned by the Georgia Railway &
V. 115, p. 73, 988, Electric
1320, 1631.
Co., which guarantees the bonds.
STOCK AND BONDSSTOCK AND BONDS- Date.
Date,
Interest. Outstanding. Maturity.
Interest. Outstanding. Maturity. Stock.3100,000
Common. 515.000.000 4100)5100.000
$15,000.000
First mortgage $400.000 guar' 1904
5 g J-J
1st pfS2,500,0008% cum($100)
400.000 July
Q-J
2.500,000
See text
($500 and $1,000) gold_ _c*f Int. at Old Colony Tr. Co.. Boston. 1 1954
2d pf$10.000.000 4%n-e($100)
Trustee.
10.000.000
Bonds.
-Are guar..
let & ref mtge $30,000.000 itt 1914
5 g A-0
19,769,000 Apr 1 1954 lect to call on any int.p. & 1., by end.. by the Oa. fly. & Elec. Co. Are subdate at 110 and int.
sink,fund of 55,000 per ann.
See text sinking fund_ c Int. at Fidelity Tr. Co.. Phila.. Trustee
•
began in 1909: $91,500 bonds are held alive A sink.
In
Gen mtge series of 19211 1921
fund. V . 79. P. 680.
7 it M-N
4,000.000 Nov 119-11
EA
ar
For-For years ending Dec. 31:
Series of 1922
t 1922 6 g A-0
3,500,000 Apr 1 1947 YearGross.
Net.
Taxes. Int.,&c. Balance.
($500 & $1,000)
c*tfi Int. at Bankers Trust Co. N. Y., Trustee. 1921
$255.714 $53,173 56,592 $26,766 sur.$1 9
Atlan Wat & El P 1st M),_ 1903
1 :317
5 J-J
1.400.000 Jan 1 1941 1920
785
8
255,009
51.715
7,050
27,278
(closed) g (31.000)_-c*cpt1Int. at Columbia Trust Co.. N. Y., Trustee. 1919
222,422
54,063
7.351
Equip trust notes Series "A"_.. 1919
28,240 sur.18.472
'0,000
ROAD.
See text
-Operates 18 miles of track from Atlanta to Marietta
Equip trust notes Series "B"__ 1920
, 15.2 miles,
208,000
which are owned and mostly on private right of way.
See text
.Stock.-First pref. 8% stock is redeemable after Jan. 1 1938 at
Has arrangements
with Ga.
div. After the 2d pref. and common stocks have both received 115 and Atlanta. By, & El. Co. for terminals and trackage rights into the city of
4% per
Standard gauge; 7 cars. Commenced operatio
annum for three successive years the 2(1 pref. stock becomes common
n July 17 1905
-V.79,p.680.
Bonds.
-Of toe 530.000.000 First and Refunding Mtge. bonds, stock.
000 are reserved to retire prior lines. $7,500,000 are pledged as $1.367 for the Gen. Mtge. 7% bonds. $102,000 are held in treasury, and security
ATLANTIC CITY, N. J.
is for future additions, &c., under protective restrictions. Subjectbalance
ATLANTIC CITY & SHORE CO.
to
at 10236 and interest to April 1 1923, and thereafter at 105 and int. call
,
ORO A NIZATION.-Incorporate
56 days' notice. Bonds are callable for sinking fund at same ratesafter the 3,000 shares of the Atlantic & d in 1909 in Delaware. Owns 2.995 of
and
Suburban fly. Co. stock and a majority
dates. Annual sinkinsr fund payments are as follows: 1919 to 1924.
$75.000: of the•stocks of the Central Passenger Ry. Co.($40,000 bonds) and Atlantic
1925 to 1928. $100.000: 1929 to 1953, $125,000; $405.000 held in sink.
fd. City & Shore RR. Co. Also owns all of the $591.100 outstanding let mtge.
(incl. In amount outstdg.) Apr. 1 1922. Coupon bonds $1,000
or £205 bonds of Atlantic & Suburban Ry.
15s. 3d. and $500 or .C102 17s. 7d. The gen. mtge. 7s In addition
to
STOCK AND BONDSDate.
being a gen. mtge. on the entire property, incl. the lease and power contract
Interest. Outstanding. Maturity
Common stock
with the Georgia Ry. & Elec. Co. are further secured by deposit
87 I ,501)
equal amount of 1st & ref. 5s, due April 1 1954. Add'I gen. mtge. of an Preferred stock
25 1.000
tf 1910
47,
may be issued under certain restrictions provided same are securedbonds 'oil trust. $591.100
591.100
by a
The collateral trust 4s are secured by $591.100 Atl. & Sub. See text
like amount of 1st & ref. 5s. Series of 1921 7s are redeemable all or in
bonds and 2,995 out of 3.000 shares of stock of that company. 1st mtge
part on the 1st day of any month on four weeks' notice, at 1074 & int.
They fall
to
and incl. Nov. 1 1924; thereafter to and incl. Nov. 1 1931 at 105 & int.; due Feb. 1 1928 or Feb. 11940.
OFFICERS.-Pres., Harry E. Kohn; Sec., L. R. Isenttial;
and thereafter at 4 of 1% less premium each year to maturity. Series of
Treas..
A. W. From.
1922 6s are redeemable, all or part, on first day of any month on four eweks'
(1) Atlantic City & Shore RR.
-An electric road.
notice at 107% and int. to and incl. April 11932, thereafter at 105 and int
Receiver Discharged.
-In June 1921 A. J. Purinton was discharged as
to and incl April 1 1937; thereafter at 4 of 1% less premium each year to receiver
and incl. April 1 1945. and thereafter at a premium of 4 of 1% prior to receiversfor the co. by Judge Rellstab in the U. S. Dist. Court. The
hip (begun Nov. 26 1915) was caused by losses due to the operation
maturity. Pennsylvania 4 mills tax refunded. V. 113, p. 1772; V. 114, p.
1765. The Atlanta Water & Elec. Power bonds are subject to call at 105. of Jitney buses. Subsequently the city ruled the jitneys off the main
thorough
The issue was originally for $1,500,000, but has been closed at $1,400,000. successfufare and with the 7-cent fare in effect the co. was able to operate
lly. V. 113, p. 291.
Sinking fund Jan. 1 1908 to Jan. 11917. incl., $5,000 per annum; thereafter
ORGANI
-Incorporated in New Jersey Oct. 21 1905 with a
until maturity $10,000 per annum. See V. 102. p. 1540. $142,000 in perpetual ZATION.
charter. Leases Atlantic City & Ocean City RR.
-see
sinking fund.
below-and owns $218,500 of the common stock of the Atlantic terms
Equip. trust notes Ser. "A" are due 10% annually. Ser. "B"
City &
Ocean
514,000 semi-ann. each Oct. and Aprll 1 to April 1929 and $13,000mature City City Company, which holds all the stock and bonds of the Atlantic
Oct. 1
& Ocean City RR. V. 85, p. 158. Operates over the Central
1929 and Aprll 11930.
Pass.
By. Co. tracks under traffic agreement.




I

7

ELECTRIC RAILWAYS

OCT., 1922.]

GEORGIA RAILWAY & POWER COMPANY
GENERATING AND DISTRIBUTING SYSTEM
STORAGE RESERVOIRS

E

HYDRAULIC GENERATING STATIONS

El

STEAM GENERATING STATIONS El

TRANSMISSION LINES

SUB-STATIONS 0

PROPOSED HYDRAULIC GENERATING STATIONS

fl

PROPOSED SUB-STATIONS0

PROPOSED TRANSMISSION LINES
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ELECTRIC RAILWAYS

Contract with West Jersey et Sea Shore RR.
-An agreement has beet.
entered into with the West Jersey & Sea Shore RR. by which the
Atlantic Ave. line of the latter road, running from Atlantic City to Longport. 83-i miles. is operated by this company.
Fare Increases.
-On Nov. 1 1918 was auth. by the N. J. P. U. Comm. to
increase fares from 5 to 6 cents. V. 107, p. 1836. Compare V. 107. p. 179
801. Effective July 1 1920 cash fares were raised to 7 cents on a majority
of the co. s lines. V. 111, p. 188. Compare V. 110, p. 2386. Rates for longer
hauls were also raised.
STOCK AND BONDS- Date. Interest. Outstanding. Maturity
Stock, 11,000,000 (5100)_
11,000.000
let mtge & coil trust deedl 1905
5 g J-D
950.000 Dec 1 1941
$1,000.000 (51.000) g_c* tfjInt. at Girard Trust Co.. Phila.. Trustee
Bonds.
-No sinking fund, but can be called at any time at 110 and int.
ROA D.
-Operates 47.45 miles of track in and around Atlantic City, including a road through Pleasantville. Linwood and Somers Point, to Ocean
City, the latter two points being connected by 2 miles of trestle and bridge
owned by the Atlantic City & Ocean City RR.
EARNINGS.
-For years ending Dec. 31:
Calendar YearGross.
Net.
Rents, ctc.
Balance.
1921
$349,120
$1,083,226
$311,157
sur.$37,963
1920
972,484
262,230
255,325
sur. 6,905
OFFICERS.-Pres.. I. H. Silverman; V.
-P., A. J. Purinton; Sec., J. M.
Campbell; Treas., A. W.From; Gen. Supt., A. J. Purinton.-V. 107, p. 179,
801, 1836; V. 109, p. 981; V. 110, p. 2386; V. 111, p. 188; V. 113, p. 291.
(a) Atlantic City & Ocean City Company.
The Atlantic City & Ocean City Company was organized in Delaware
and owns the entire ($180,000) stock and all the ($180,000) bonds of the
Atlantic City & Ocean City RR. and has pledged them as security for the
collateral trust bonds below. Of the common stock of the Atlantic City &
'
Ocean City Company.$218,500 is owned by the Atl. City & Shore RR. The
latter leases the AU. City & Ocean City RR. for 999 years, the rental being $19,500 per annum, and an additional contingent sum equal to 33 1-3%
of the net surplus, but not to exceed $25,000 per annum.
STOCK AND Bt
tstanding. Maturity
Common,$350,000-------- ---------------$220,000
Pref 5% non-cum $250,000
-------175,000
Collateral trust gold 5500,-1 1907
5 M-S
350,000 Mar 1 1947
000 redeemable 110 & int tf f Girard Trust Co., Philadelphia, Trustee.
Stock.
-The pref. stock is redeemable at par.
ROAD.
-The Atlantic City & Ocean City RR. owns 2.61 miles of road
From Somers Point. across Great Egg Harbor Day, on bridge and trestles
to Ocean City. Rails. 85 lbs. V. 85. p. 158; V. 87. p. 165.
OFFICERS.-Pres., L. R. Isenthal; Sec., J. M. Campbell; Treas.,
A. W. From.
(2) Atlantic & Suburban Ry.
ORGANIZATION.
-Incorporated in New Jersey 1)ec. 7 1908 as a re•
organization of the Atlantic City & Suburban Traction Co.. sold under fore
closure of 1st mtge. V. 87. p. 1237. 1532.
Fare Increase.-Effective April 15 1920, was auth. by the N. J. P. U.
Comm. to put into effect an increased fare schedule. V. 110. P. 1288.
STOCKAND BOtstanding. Maturity
Stock,$750,000 ($50)
--------- ----------------$150,000
First mortgage. $650,000 1909
4 g F-A
591,100 Aug 1 1929
($1,000)
c.tf Int. at Cambridge Tr. Co., Chester, Pa., Ti'.
Prior lien M, $100,000. guar ____
5%
100.000 Feb 1 1921
p &I, by A C& S Co__ ti
Bonds.
-Bonds have no sinking fund. V. 87, p. 1237.
EARNINGS.
-For cal. year 1921, gross (all sources),$154,355; net, after
oper. exp. & fixed charges, def.. $22,320. In 1920, gross (all sources),
$139,602; net, after oper. exp. and fixed charges, def., $19,443
ROAD.
-Operates 16.13 miles of track from Atlantic City io Pleasant.
agile. Somers Point and Absecon. Standard gauge. 80
-lb. T rail.
OFFICERS.-Pres., L. R. Isenthal; Sec., J. M.Campbell; Treas., A. W.
From.
-V.88. p. 881; V. 90, p. 1424; V. 110, p. 1288; V. 113, p. 2078.

[VOL. 115.

1177[but see above-Ed.]. Augusta Ry. & Elec. bonds can be called in 10,
20 or 30 years from date at 105 and int. on 6 months' notice; sinking fund of
55 of 1% began June 1 1905 for 15 years, 1% for next 10 years and 2% or
,
remaining 10 years. $172,000 (not incl. in amount outstanding) was held
In sinking fund Oct. 1 1922.
The Ga.-Caro. Pow. bonds are subject to call as a whole, or in part, for
sinking fund at 105 and int. 8167,000 have been retired by sink fund.
Sinking fund began In 1918 and will be sufficient to retire all the bonds at
maturity. They are guar., p..1. & s. f., by Augusta-Aiken By. & Elec.
Corp. V. 95, p. 179.
Dividends -Initial dividend on preferred-11.4%-paid Dec. 30 1911.
same rate quarterly to and incl. June 1914. None since.
REPORT.
-For years ending Dec. 31.
Int. on
Calendar
Gross (All Net after Int. on Co.Sub.Co.Bds. Other Balance,
YearSources). Taxes.
Bonds.
Int.,&c. Surplus.
etc.
1921
51.108,890 5338,532 y$21,682 $211,608 $8.527 $96.715
1920
1,251,154
430.279 y21,683
212,529
13,563
182,504
y This represents int. on the co's. 5
-year 5% notes which were issued in.
connection with the plan under which the holders of the co.'s 1st M. bonds
have agreed to forego the int. duo thereon for a period of 3 years-see above.
ROAD.
-Owns and operates 51.5 miles of track. of which 30.0 miles
are city lines and 25.5 miles interurban between Augusta and Aiken. 60
oimsteab. T rails. Standard gauge. Owns Lake View Park on Lake
to 10 ld .
0OFFICERS.-Pres.,F. Q. Brown: V.
-P.. J. H Pardee and J. K. Choate,
Sec. and Treas., D. H. Thomas; Mgrs., J. G. White Mgt. Corp.
-V. 109,
p. 472, 1079; V. 110, p. 2191, 2487; V. 111, p. 293, 686; V. 112, p. 1398,
2641; V. 114. p. 1285, 1889, 2715; V. 115. p. 1099.

AUSTIN, TEX,
AUSTIN STREET R Y.
-A trolley road.
Receirership.-Early in 1921 Wm. J. Jones, President, was appointed
receiver for the co. by Federal Judge Duval West. V. 112, p. 1517.
ORG..4.NIZATION.-Incorporated in Texas on Jan. 3 1911 as successor
to the Austin Electric Ry. Franchise expires In 1942.
Fare Increase.
-Effective June 1 1920, the co. was auth. by the Austin
City Commissioner to install a 7
-cent fare, with 4 tickets for 25 cents.
V. 110, p. 2487.
STOCK AND BONDS- Date.
Interest. Outstanding. Maturity.
Common $750,000 ($100)$560.000 See text.
Pref $500,000 ($100)6% n-c_
250.000 See text.
First & ref mtg 11.500.0001 1911 5 g
786.000 Jan 1 1936
gold (31.000)
c*tt f Int. at Equitable Trust Co.. N. Y.. trustee
Bonds.
-$714,000 let & ref. bonds are reserved for additions. &c. They
are. subject to call on any int, date at 102.4. Annual sinking fund of 2%
of bonds out began in 1915. V. 92, p. 185; V. 93, p. 1461. $153,000 (not
Included in amount reported outstanding) in sinking fund Oct. 1 1922.
Diridends.-On pref. 3% in 1915,6% in 1916. 4% in 1917. None since.
On common, 1% in 1915, 1916 and 1917. None since.
EARNINGS.
-For year ending Dec. 311921, gross, $375,649; net, after
taxes. $99,650. In 1920, gross, $318,936; net, after taxes, $73,799.
ROAD.
-Operates 22.67 miles of track. 55 and 72-1b. rails: 52 cars.
OFFICERS -Receiver. NV. J. Jones; Pres.. F. H. Watriss; Sec., D. A.
Bush, Austin, Tex.; Asst. Sec., G. P. Gannett. Augusta, Me.; Treas.
E P. Wilmot; Asst. Treas. G. E. Macomber Augusta. Me.
-V. 93. p.
526, 1461, 1531; V. 110, p. 2487; V. 112, p. 1517; V. 115, p. 1099.

AYER, MASS.

LowELL & FITCHBURG STREET R Y.
-A trolley road.
In 1913 W. W. Sargent, President of the Fitchburg & Leominster Street
By., and associates ace uired control.
.
,
ORGANIZATION.
-Incorporated in Massachusetts in 1903.
STOCK AND BONDS- Date, Interest. Outstanding. Maturity.
AUGUSTA, GA.
Stock 1275.000 ($100)5275,000 In 1920. 4%
AUGUSTA-AIKEN RY. 5c ELEC. CORPORATION.
First nage (see text) gold' 1906
275.000 Jan 1 1926
5g
(31.000) no sinking fund__1Subject to call at 105 and interest.
ORGANIZATION.
-Chartered in March 1906 under laws of Soutt
Bonds.
Carolina as Augusta & Columbia By. Co.; name changed to above in Apri
-First mtge. was originally for $1.000,000, but has been closed
at $275.000.
1911 and is a consolidation of the following companies:
Dividends.
Augusta-Aiken By. & Elec. Co.
-In 1916, 2%; 1917. 6%; 1918, 6%; 1919, 3%; 1920, 4%•
I Augusta Ely. & Elec. Co.
EARNINGS.
Augusta & Aiken By, Co.
-For year ending Dec. 31 1921, gross, $78,208; net, after
I North Augusta Elec. & Impt. 01
Owns and operates entire railway systems of Augusta, Ga.. and Nora taxes, $2,510; in 1920, gross, $91,977; net after taxes, $9,979.
ROAD.
Augusta, S. C., and a line from Augusta to Aiken, S. C. Also furnishes
-Operates 14 miles between North Cheunsford. a suburb ol
entire electric light and power service in Augusta and its suburbs and owns Lowell. and the village of Ayer, with a spur running from North Chelmsvaluable real estate in central part of Augusta. Railway franchise le ford to Brookside; connects at North Chelmsford with Bay State St. By.
and at Ayer with Fitchburg & Leominster St. By. Has 11 passenger
Augusta expires 1939: electric-lighting franchise runs until 1939 or longer
Interurban division is on private right of way. V. 92. p. 1177. Also own, lars, 1 snow plow and 2 other cars.
OFFICERS.-Pres., W. W. Sargent; V.
the $500.000 con). stock of Georgia-Carolina Pow. Co., Incorp. In So. Caro
-P.,0. F Baker; Sec. & Trees..
to construct the hydro-elec. plant on Savannah River, which was placed iu It. N. Wallis. all of Fitchburg, Mass.
operation Feb. 6 1914 with an initial Installation of 14.000 h. p.. ultimate
capacity about 28.000 h. p. Operation of this plant was taken over by the
Augusta-Aiken By. & El. Corp. on July 11914. The company guarantees
BALTIMORE, MD.
prin. and int. and sink, fund on the Ga.-Carolina Pow. Co. 1st M.58.
Street railways of Baltimore pay a park tax offrom 1% to 9% of gross receipts
Early in the fall of 1916 disposed of its holdings in the North Augusta Hotel from lines within City Limits, except on turnpikes and private rights of way,and
Co. and North Augusta Land Co.
are required to pare between tracks and two feet on each side.
On June 23 1915 the stockholders authorized an increase in the 6% cum
UNITED RAILWAYS & ELECTRIC CO. OF BALTIMORE.
-Trolley.
pref. stock from 51,500,000 to 32.250,000, the new stock being issued it
ORGANIZATION.
-Incorporated at Annapolis March 4 1899; comexchange for the $750,000 pref. stock of the Georgia-Carolina Invest. Co
(a holding co. formerly controlling the Ga.-Caro. Power Co.). which has prises through consolidations the following passenger railways in Baltimore City and Baltimore, Anne Arundel and Howard counties, Maryland:
been dissolved. V. 100. p. 1830, V. 101, p. 283.
Fares.
-On Mar. 1 1918 increased fares from Augusta to Aiken, S. C.. Baltimore Catonsville & Ellicotts Central Railway Co.
Mills Passenger RR.
Gwynn's Falls Railway of Baltimore
from 25 cents to 40 cents, with the approval of the S 0. RR. Commission
City.
but subsequently reduced to 35 cents. In June 1922 under a ruling of Baltimore City Passenger Ry. Co.
Maryland Traction.
the U. S. Circuit Court of Appeals, fares between these cities were again Baltimore Consolidated Ely. Co.
Pimlico & Pikesville RR.
raised to 40 cents. See V. 114, p. 2715,for details. In Sept. 1918 applied Baltimore & Curtis Bay Ely.
to the Georgia RR. Comm. for auth. to increase fares in Augusta from Bait. Gardensville & Belair Elec. Ry. Shore Line Electric Ry.
5 cents to 10 cents, but was granted authority to raise faros to only 6 cents. Baltimore & Northern Elec Ky. Co. Walbrook Gwynn-Oak & Powhatan.
Also owns all the stock, and holds a lease of the Baltimore Sparrows
Effective May 9 1920, a 7
-cent fare was auth. on the co.'s lines. V. 110,
p. 2191. In June 1921 the U. S. Dist. Court at Atlanta handed down a de- Point & Chesapeake Ky. Co.
-In Aug. 1906 the Maryland Elec.Ity., which had agreed
cision granting the co. permission to charge a 10-cent fare. The court also to Allied Company.
provide funds
granted a temporary injunction restraining the RR.Comm.from interfering Ry. & Elec. Co., for needed improvements and acquisitions of the United
was consolidated
with the collection of the 10-cent fare. V. 112, p. 2641. In April 1922 fares thus forming the Maryland Elec. with the Bait. & Annapolis Short Line
Rye. See statement of that co. below.
were reduced to 8 cents cash and 7 cents for tokens.
-In Feb. 1911 entered into a 15-year contract with PennPower
Jitney Regulation.
-In March 1922 the co. withdrew its cars from service iylvania Contract.
Water
supplying power in conjunction with
in Augusta as a result of a controversy with the City Council over the United Railways & Power Co. forof cars. V. 92,
Co. for operation
p. 467. Also see below.
regulation of jitneys. Service was resumed April 15 1922, however, under
Sale of Power House-Contract. &c.
-On Jan. 12 1921
an ordinance forbidding jitneys to parallel lines of street car traffic. V. 114, petual power contract with the Consol. Gas, Elec. Lt. & entered into a perPower Co. of Balto.
p. 1889. Compare V. 114, p. 1285.
transaction involved the sale
-In May 1919 the The Gas Co. for $4,000,000. of the Railways, Pratt St. power house
Holders of Co.'s 1st M. 5s To Foreao Interest.
to the
(Transferred on May 24 1921.) V.
112.
co. proposed to holders of the 5% Sink. Fd. bonds, due 1935, in order to p.373.
secure necessary funds for construction, replacements and floating debt,
Favorable Tax Decision.
-On June 29 1909 the Court
that they defer the interest on this issue for three years by funding their land held that the park tax of 9% on gross earnings of Appeals of Marycoupons into a 5
-year interest-bearing note at 5% and until such notes Ilinits was intended to be in lieu of all other taxes, andof lines within city
that no further tax
mature on June 1 1924, to waive the operation of the sinking fund. This on the intangible property can be levied without express
plan was declared operative in August 1919. In 1922 holders of those ity. The easements in 14 miles of turnpikes in annexed legislative authordistricts were held
bonds accepted a plan similar to the previous one, providing for the funding to be taxable. V. 89, p. 44.
of coupons due in 1922 and 1923 into notes maturing June 1 1924. ProIn April 1913 Judge Bond in the City Court at Baltimore decided
vision is made in the deposit agreement that until the 5% Coupon Gold company must pay cost of repaving streets between tracks and that the
notes have been paid off, no dividends shall be declared by the company either side. See V. 96, p. 1090. On Aug. 5 1913, the Court of 2 ft. on
Appeals of
on either class of stock. V. 109, p. 1079.
Maryland reversed the ruling and unanimously held that company's obliSTOCK AND BONDS-' Date.
Interest. Outstanding. Maturity gation with respect to the track area was to repair and not to re-pave. In
the same court again held that co. is required merely to keep
Feb. 1916
Common 12,250,000_($100)
$2,250.000
See text.
2,250,000
Its tracks in repair.
Pref 6% cum $2.250,000(S100) -- - Q-M
First mtg $7,500,000 gold t 1910 5 g J-D
In June 1914 the Maryland Court of Appeals, reversing the lower Court,
2.891,000 Dec 1 1935
c*&r*tfjCent. Union Tr. Co.. New York. Trustee. held that the State Roads Commission cannot recover from the electric
(21.000)
822,750 June 1 1924 railway companies the cost of changing and re-locating tracks in building
-year coupon notes
5
1919 5%
828,000 June 1 1940 the system of State highways. V • 98. P• 1995.
Augusta By & Elec 1st M gl 1900 5 g J-D
-In Aug. 1918 the co announced that. effective Oct. 1 1918.
Fares.
51.000,000 (11,090) - entf lint, at Mer. Tr. & Dep. Co., Balt.. Trustee.
fares in Baltimore and suburbs would be increased from 5 cents to 6 cents.
Ga-Caro Pow 1st M 15,000,2,650.000 July I 1952 V. 107, p. 907, 1386. Compare V. 107, p. 403. In Jan. 1919 the 6-cent
000 g ($500 and g1.000) _ _ 1912 5 J-J
guar
esti Cent. Union Trust Co.. New York, Trustee. fare was approved by the Maryland P. S. Comm. Half-fares for children
Bonds -Of the $7.500,000 1st mtge. bonds, $437 000 are in treasury. were increased from 3 cents to 4 cents. V. 108, p. 172. On May 22 1919
1426.000 are deposited with the trustees for the bondholders and 5129.000 the co, applied to the Md. P. S. Comm. for auth. to increase fares to 7 cents
-(see text cash or 4 tickets for 25 cents. V. 108, p. 2242. On June 5 1919 this
in sinking fund (not included in amount reported outstanding)
above regarding suspension of sinking fund operations); 5870.000 are re- petition was denied by the P. S. Comm. V. 108, p. 2434. Effective Oct. 1
served to retire Augusta By. & Electric bonds, and balance is for additions, 1919 however, fares were Increased to 65-i cents, 4 tickets being sold for
&c. Subject to call as a whole (or in part for sinking fund) at 105 and 26 cents. V. 109, P. 1274. On Jan. 1 1920 the co. was auth. by the
Int, on any int. day on 30 days' notice. Interest is payable at Redmond Md. P. S. Comm. to increase fares to 7 cents. V. 110, p. 79. See also
& Co.. New York. Sinking fund began in 1918. providing for payment of V. 110, p. 360; V. 112, p. 63: V. 113. p. 2615.
In April 1922 brought out $6,000,000 1st cons. mtge. bonds bearing 6%
$25,000 per kiln. 1st 5 years, increasing to $40,000. $50,000 and $65.1.00
for each successive period of 5 years until maturity of bonds. V. 02, p. Int., proceeds being used to retire $3,000,000 City & Suburban By. 1st




OCT., 1922.]

9

ELECTRIC RAILWAYS

mtge. 5s duo June 1 1922, $1,599,000 United Rysl& E1oc.110-year 74%
sec. notes due Jan. 15 1931. and to pay in part 84,528,000 unsecured notes
maturing Aug. 15 1922. V. 114, p. 1653. The remainder of the unsecured
notes due Aug. 15 1922 were paid off with part of the proceeds of $2,500,090
-year 6% notes sold in July 1922. V. 115, p. 437. In May 1922 holders
5
of the 1st & cons. mtge. 4% bonds were offered the privilege of exchanging
the 4% coupon sheets on a limited portion of thoir holdings for 6% coupon
sheets, upon the payment of $250 per $1,000 bond. Up to June 28 1922
22,684,000 bonds had taken advantage of this offer._V. 114. p. 2361,
2580: V. 115. p. 181.
Interest. Outstanaing. Div.or Mu.
Date.
m FUCKAND BONDSSee text
Common,$35.000,000 ($50)-- ---- 4 Q-J 15 $20.461,200
1949
4 g J-D
14,000.000
$14,000,000.1 1899
Inc mtge, g.
cum, Maryland Tr Co.{ Payable at option of co. after March 1 1949
c*ntf[Int. at Alex. Brown & Sons, Baltimore
True ($1,000)
let con mtge, g, $38,000,0001 1899 4-6 g M-S 32.450,000 Mar 1 1949
($1.000); Continental Tr }Interest at Alex. Brown & Sons, Baltimore
co, Baltimore, Trus _OM
3,920,000 June 1 1930
5 g J-D
Income fdg bonds ($100. $5001 1906
& $1,000). $3,920.000....ceflelaryland Trnet Co., Trustee.
2,590,000 Aug. 1 1927
notes ($500 and' 1922 6 g F-A
5-year
c*tfl Safe Deposit Co. of Baltimore. trustee.
$1,000) •
UNDERLYING SECURITIES.
1,500.000 Nov 1 1929
5 M-N
Baltimore Tract-let mtge;( 1889
($500,000) Trustee Mercan{Interest at Merchants*-Mechanics' First
tile Tr & Deposit Co _cntf( Nat. Bank, Baltimore.
1,750,000 June 1 1942
5 g J-D
N B Div 1st ($1,000) 5s. g;f 1892
TrusMerTr&DepCo.cntfl Int. at Merch.-Mech. First Nat. Bk. Bait.
Outstanding. Maturity.
Interest.
STOCK AND BONDS- Date.
1,000.000 Sept 1 1942
5 g MI-S
1
Late Roland tElevated-1st( 1892
mortgage. gold Interest at Alex. Brown & Sons, Baltimore
•:easel
Baltimore Trust Co., Trustee.
(51.000) ______....c*Acr tf
700,000 May 1 1932
5 g al-N
Central Ry-Consol mortgage 1892
$700.000. gold ($1.000)ntf{ lot, at Mereh.-Mech. First Nat. Bk.. Bait
(Mercantile Tr. & Dep. Co. of Bait., Trustee
600,000 Mar 1 1932
5 g 1M-S
Ext and imp let mtgej 1897
$600,000. g (51,000)_ntfl Baltimore Trust Co., Baltimore, Trustee
(Int at Merch.-Mech First Nat. Bk.. Balt
. Stock.-There was originally an issue of $14,000.000 4% pref. stock
outstanding but in Sept 1920 the last of this issue was converted into income bonds. Authorized amount of common stock was increased from
524,000,000 to $35,1900.000 in Sept. 1917 to provide for conversion feature
of notes of 1917. Common stock listed on Baltimore and Philadelphia
1
Stock Exchanges. V. 96. p. 1631; V. 97, p 667.
.
-Of the 838,000,000 of 1st consol. bonds, $5,550- 000 set aside to
Bonds.
$32,450,000 outstanding 1st Mtge.
retire underlying securities. Of the
$23,766,000 bear 4% int. under the 1st cons. mtge., while $8,681,000
issued under a supplemental indenture bear the company's promise to pay
add'I int. at the rate of 2% per ann., making the rate 6%. V.114, p. 1653,
2361, 2580; V. 115, p.184. Bonds are not callable. Income funding bonds
are redeemable on any int. date at par and accrued interest. $18,820 are
held by trustees. All bonds are listed on Baltimore Stock Exchange and
the 1st Consol. 4s and $14.000,000 Income 4s are listed on the Phila. Stock
Exch. $6,000 Central Ry. 1st cons. 5s and $2,000 ext. & impt. 5s are in
United Railways & Electric Co.'s treasury.
Notes.
-The 5-yr. 6% notes are red. at any time on 30-days' notice at
100 & int. plus a premium of 4% for each year or fraction thereof from
date of redemption to date of maturity. Int. payable at Alex. Brown &
Sons, Baltimore. V. 115, p. 437.
-Dividends of 4 of 1% were paid in June 1899 and 24%•
DIVIDENDS.
in Dec. 1899, and 2% each Six months after that to and including Dec. 1903
on both the income bonds and the pref. stock, the payment on the stock
(but not on the bonds) being subject to a deduction of ji of 1% for taxes.
None thereafter until June 1911, coupons being funded. On June 1 191:
paid 2% on both income bonds and pref. stock and 2% has been paid each
six months since. (The last of the pref. stock was ronverted into income
bonds in Sept. 1920). On com. 1st div.-14%-paid May 1912; Nov.,
14%. Tn 1013 and to and inet. .1an. 1919 at the rate of 4% per annum.
April 1919 dividend postponed (V. 103. p. 1391). None to Aug. 1922. when
1% was paid.
-Miles of track, 418; serviceable cars, 1,898; gauge. 5 ft. 4% in.
ROAD.
-in, and 129-1b. girder. Capacity of (2) generating
Rails, 60-1b. T and 9
stations, 2,955 k. w.; capacity of (7) sub-stations, 50,875 k. w.
REPORT for the year ending Dec. 31 1921 in V. 114, p. 1702.
1919.
1921.
1920.
1918.
35,708.863 37,162.202 35,522.351 32.569,906
Car miles run
Revenue passengers_ _ _ _238,090.980 253,934,179 213.890,966 226,831,528
92,259.537 93,883,660 86,756.575 81,879,968
Transfers
$16,332.865 $17,313,599 214.791,234 $11,929,701
Operating revenues
9,965,331 10,465,161
9,192,238
6,839.822
Operating expenses
739,712
816,643
865,680
596,485
Depreciation
1,710,109
1,409,261
1,839,421
1,160,452
Taxes, licenses, &c

of the co.'s bands at maturity, and also to purchase the remaining bonds at
maturity. There is no guarantee endorsed on the Maryland Elec. Rye.
Co.'s bonds but the terms of the rental are such as to be more than sufficient to pay int. Stock listed on Baltimore Stock Exchange in Feb. 1908.
Interest. Outstanding
Maturity.
STOOK AND BONDS- Date.
51.164.000 July '08.I%
3tock, 51.200.000 (550)_
4,916.000 Oct 1 1931
First mtge. $8,000,000, gold) 1906
5 g A-0
($1,000), sinking fundc* tf JMercantile Tr. & Dep. Co., Bait., Trustee.
lionds.-A sinking Ping of 14% on Maryland Elec. Ry. let mtge, bonds
out began Mar. 30 1910. $1.225.000 (inci in amount outstanding) held in
gen. sink. fund Sept. 30 1922. Bonds are redeemable at 110 and int. on any
Int. date upon 90 days' notice. Int. payable at office of Alex. Brown &
Sons. See V. 83. p. 818, 970.
Dividends.
-First dividend (14%) was paid in Jan. 1907 and 2% was
paid July 1 1907. In 1908, Jan., 1%;July,1%; none since.
-P., N. E. Stubbs; Sec., Wm.
OFFICERS.-Pres., John T. Staub; V.
Early; Treas.. G. S. Storrs.-V. 98. P. 1603, 1694, 1767; V. 105, p. 1419:
V. 112, p. 847.

BANGOR, ME.

(2) Baltimore Halethorpe 5c Elkridge RY.
ORGANIZATION.-Incorp. on Dec. 26 1905 in Maryland. Stock
$100.000; outstanding. $10,000. Has made a $300,000 mtg.(ntf) to Fidelits
Trust Co. of Baltimore. trustee. 20-year 5% bonds. prin. and int., payable
at Alexander Brown & Sons, Balt.• not guar. by United Rye. & Elec. Co
None out. Owns 3.051 milee of road, which IS operated by United Rye. &
Elec. Oe.-V. 87. p. 543.

BANGOR RAILWAY 5c ELECTRIC CO.
ORGANIZATION.-Incorp. Feb. 16 1905 in Maine and is a consolidadon of the Bangor Orono & Old Town Ry., Bangor Hampden & Winter.
port Ry., Public Works Co.. Old Town Electric Co.. Brewer Water Co.
and Penobscot Water & Power Co. On Feb. 1 1907 purchased the Bangor
Tr Northern RR. V. 82. p. 333. Owns the entire capital stock of the
Bangor Power Co., the Orono Water Co. and (with the exception of one
share) of the Bar Harbor & Union River Power Co. It was reported in May
1921 that the co. had nurcha,sed the Lincoln Light & Power. Co., subject to
the approval of the Maine P. U. Comm. V. 112. p. 2301. In Aug. 1922
the co. purchased, subject to confirmation by the courts, the property of
the Washington County Lt. & Pow. Co. V. 115. p. 1099. Owns and operates the electric railway lines in Bangor and Brewer and the lines connecting
Bangor, with Brewer, Hampden, Old Town, Charleston and Intermediate towns. Also the entire electric lighting and power business of
Bangor, Old Town, Milford, Bradley, East Corinth, Orono, Brewer,
Hampden, Veazie, Kenduskeag, Eddington and Orrington, with the exception of :,he municipal lighting in Bangor, and turnishes the water supply to
eazie, Old Town, Stillwater, Milford and Brewer. In addition to the
above the company, through its controlled companies, does the entire electric lighting and power business in Ellsworth, Bluehill, Bar Harbor, Seal
Harbor, &c. Also furnishes the water supply to Ellsworth and Orono.
Population served estimated at 70,000 (including controlled companies).
-Franchise for about 8 miles of track in Bangor expires in
Franchises.
1937; franchise covering operation of 2 miles of track in the city of Brewer
expires in 1910. All others are perpetual.
-In June 1922 it was reported that it was proposed to
Merger Proposed.
merge the Bangor By. & Elec. Co. with its subsidiaries. V. 115, p. 77.
-In Dec. 1918'was auth. to increase fares from 5 to 6 cents as an
Fares.
In Oct. 1920 the Maine P. U.
emeigency measure.
V. 107, p. 2287.
Comm. auth.
increase in fares to 7 cents. The company had applied
for an 8-cent fare. V. 111, p. 1171.
In June 1922 the co. issued approx. $656.000 7% Class "B" pref. stock,
proceeds being used for the purchase of new properties and for capital
requirements. V. 115, p. 72.
Interest. Outstanding. Maturity.
STOCK AND BONDS- Date.
Q-F
$2,000.000
See text
Oommon. $2,01)0,000 4100)- ---1,500.000 Oct '22.1U
Peet $1.500.000 7% cum(5100) __-Q-J
Pref Class "B" $2.000.000,1
650.000
7 Q-J
7% cum ($100)
2,000,000 July 1 1935
let cons M,gold, $2.1300.000a 1905
5g
[Guaranty Trust Co., New York. Trustee.
-Ott'
(E500. 51.000)- _
Convertible notes $300,000) 1920 8 g M-S 1
300,000 Sept 1 1930
($500 and $1,000) gold_ _ _cf First National Bank, Bangor, trustee.
Pub Wks Co, 1st. gold.$600.-1 1899
599.000 April 11920
5 g A-0
000 ($500. $1.000)- - c*ntf(Int. at Old Colony Trust Co., Boston, True.
Bar Liar & Un R Pow Co let &I 1907
5 MS
1,003,000 Sept 1 1935
ref.52.000,000(51,000)c*tf!Commercial Trust Co. Phila.. Trustee.
dangor Power Co. let mtge,) 1911
See text
1,361,010 Sept 1 1931
52,500.000 ($1,000)___c*tfjCentral Union Trust Co. N. Y., trustee.
aroma Water no, first mom ( 1905
60,000 July 1 1925
'
414 J-1
gage. 800,000 gold, not{ Int. at Portland (Me.) Nat. Bank. Union
subject to eall 4500,_cntf I Safe Dep.& Tr. Co.. Portland, Me.. True.
Car trust certifs., 352.776.... 1919
See text
See text
6%
Stock.-Class "B" pref. stock is equal to pref. stock with respect to assets and divs.. but has no voting power. Not subject to call. V. 115. p.72.
Bonds.
-The first consol. bonds are secured by deposit of all the stocks
(except 1 share of pref.) and $56,000 1st & ref. mtge. bonds of the Bar
Harbor & Union River Power Co. They are subject to call on 60 days'
notice at 1074 and interest on any interest date. Interest at office of
trustee, New York, or Eastern Trust & Banking Co., Bangor. See
particulars, bonds, property, &c.. V. 87. p. 1009. The Public Works Co.
bonds are not subiect to call: V. 89. p. 2546. 81.009 retired
Of the Bar
Harbor & Union River Power Co. bands. 819.090 are held in treasury of
Bangor By. & Elec. Co. and $349.000 are pledged to secure that company's
8% cony. notes. Remainder are for exten's, &c., at 85% of cost of same.
They are guar., p. & i.by Bangor Ry. & El. Co. and are subject to call at
107% & int. on any mt. date on 00 days' notice. Int. at trustee or Merrill
Trust Co.. Bangor; also at J. & W. Seligman & 0o.. New York. Of
Bangor Power Co. 1st Mtge. bonds, $750,000 Series A (all out), bore
interest at 4% to Sept. 1 1916:4%% to Sept. 1 1921 and 5% since. Series 13
81,750.000 authorized (interest, 5%)$611,000 issued and outstanding, and
$1.139,000 reserved for extensions, betterments, &c., at 85% of cost of
same. Interest payable at office of trustee and at office in Bangor. Subject to call at 105 and interest on any interest date on 60 days' notice. No
sinking fund. Both series assumed by Bangor Ry. & Electric Co.
Notes.
-The 8% convertible notes are secured by 3319,000 Bar Harbor
& Union River Power Co. 1st & ref. 5s. Red. at 101 and int. on any int.
date on four weeks' notice.
-5% per annum paid on the old stock (all of one class) from
Dividends.
Oct. 1 1905 to Oct. 1909, when 14% (quar.) was paid, which rate was continued to Oct. 1910. In 1911, 7%. In 1911 stock was increased and new
pref. stock was created, on which 1 1
4 has been paid quar. from Jan 1912
to and incl. Oct. 1922. On common initial dividend of % was paid May 1
1914 and 4% quar. to and incl. Aug 1918: Nov. 1918 div. omitted (V.
107, D. 10.1g). None to May 1922, when
of 1% was paid. In Aug. 1922
i
y of 1% was paid. Nov. 1922,
of 1%•
REPORT.
-For years ending June 30:
Gross
Net (after Interest, Pref. Div. Balance,
June 30 Yr.- Earnings. Depr.&Ta.v.)
(7%). Sur. or Def.
&c.
1921-22
8174.734
$1,457,502 $o72.032 $281.804 $113.444
1920-21
1,366.246
142.029
105,372
521.169
273,768
ROAD.
-Operates 65.67 miles of single-track equivalent. Rails, 48
to 90-lb. girder and T standard gauge. 49 pass. and 27 freight cars. 3 gravel
cars, 6 snow-plows, 1 sprinkler and 4 misc. 3 hydro-electric plants with
17,35() k.w.
-Pros., E. M. Graham; V.
OFFICERS.
-P., H. L. Clark; Clerk & Treas..
Howard Corning; Arid., 0. A. Pearson, Jr. Under management of E. W.
Clark & Co.
-V. 106. P. 1460; V. 107, P. 801, 1747, 2287; V. 108, p. 2628:
V. 111. p. 1471; V. 112, p. 468, 843, 2301; V. 115, P. 72. 1099.

THE MARYLAND ELECTRIC RAILWAYS CO.
ORGANIZATION.
-In 1906 the charter of the Maryland Else. Ry. was
acquired by interests friendly to the United Rye. & Elec. for the purp_ose,
among others, of using that company to finance the needs of the United 10 3
9
& Elec. Co. for additional property, and charter amended by Legislature le
1906 to adapt it to that purpose. In Aug. 1906 was consolidated with the
Baltimore & Annanolie Short Line. which latter line has clues been electri
fled. On Jan. 1 1921 the co. sold the Annapolis Short Line property to the
Washington Baltimore & Annapolis Elec. RR. Co., which guar. the prin.
and int. on the outstanding bonds and car trusts of the Annapolis Short
Line (see V. 112. p. 847). The Maryland Electric Railways has acquired
car-barn sites, terminals, &c., and is erecting buildings, constructing extensions, purchasing equipment, Scc., which is leased to the United Railway
& Electric Co. for an annual rental of 6°/ upon the actual cost of the property. On the property leased to the United Ry.s. & Elec. Co. that co.
obligates itself to pay a sink, fund calculated to retire a substantial portion

MONTPELIER ific BARRE LIGHT Sc POWER CO.
ORGANIZATION.-Incorp. in Mass. on Nov. 12 1912 and Owns 91%
of the stock of the Barre & NIontpeller Trac. & Power Co. Also owns
all the stock of the Consolidated Lighting Co.. Vermont Power & Ltg.
Molly's Falls Elec. Lt. & Pow, Co., and Waterbury Lt. & l'ow. Co.; also
assets of Corry-Deavitt-tercst Elec. Co. Supplies electric light, heat and
power in Barre and Montpelier and in practically all of Washington County.
It. Franchises are perpetual.
-See under Barre & Montpelier Trac. Co. in
Sub. Co. Receivership, &c.
V. 111, p. 2227; V. 112, p. 61.
-1 he Barre & Montpelier Trac. & Power Co has obtained
Fare Increase.
a new franchise agreement which allows the company to cha.ge a 6-cent
fare within city limits. Compare V. 99, p. 1528.

Not operating Income_ $3,840,782 $4,143,336 $3,453.023 $3,332,912
40,117
120,741
104,179
83.061
Other income
$3,944,961 81,261.077 $3,493,140 3:3,416,003
Total net income
Int. on bonds, rents, &c_ $2,750,650 82,661,321 $2,687,635 $2,521,271
559,157
559,080
559,080
559,030
Int. on income bds.(4%)
920
None
383
920
Preferred divs. (4%)
201,612
818,418
(4%)_
Common divs.
$40.893 def$186.716
$635,231 $1,013,216
Surplus
The profit and loss surplus stood at $1,515,159 as of Dec. 31 1921,
er
•e1
41
A- •4I
as against.$1,165,027 on Doc. 31 1920. :
••••
_
OFFICERS.-Chalrman of the Board, Thomas A. CrOSS7 Pres., C. D.
-P. & Gen. Mgr., II. B. Flowers;
-P., J. Pembroke Thom; V.
Emmons: V.
-V.113, p.
Sec., William Early; Treas., .1. T. Staub; Aud., N. E. Stubbs.
2506, 2615; V. 114, p. 1653, 1762, 2361. 2580; V. 115, p. 184,437. 546.647.

1
( ) Baltimore Sparrows Point 5c Chesapeake Ry.
-In Jan. 1903 was leased for 999 years to the Un
ORGANIZATION.
Rye. & Electric Co. of Baltimore, which guarantees the bonds below, both
as to principal and interest, and also owns all of the stock. See V. '79, p.
2643. Has 33.541 m ofsingle track. including a line 22 miles long connecting
Baltimore with the Bethlehem Steel Works at Sparrows' Point, and extending beyond along the shore of Chesapeake Bay, where summer resorts have
been established.
STOCK AND BONDS- Date.
Interest. Outstanding. Maturity
5400,000
Stock, 52.000.000
First mtge.. 52,000.000. gold) 1903
4% g F-A 2,000.000 Feb 1 1953
(51.000) guaranteed, prin-{ Fidelity Trust Co., Baltimore, Trustee.
cipal and intereet__-_c*tf(Interest at Alex. Brown & Sons, Baltimore
REPORT.
-Operations included in United Rye. & Elec. V. 80. p. 221.




BARRE, VT.

10

ELECTRIC RAILWAYS

STOCK AND BONDS.
Date.
Interest. Outstanding. Maturity
Common ;1,000.000($100)31.000.000
Pref $3,810,000 ($100)cum___ ---6%
1.337.800 July'21. 134
1st refund mtge $2,500,0001 1914
5 g A-0
601.200 Oct. 1 1944
($100 & 31,000)___c*&r.tt I Int. at Artier. Trust Co., Boston, Trustee.
10
-year notes 3750,000 gold_l 1920
.* g M-S15
500,000 Sept 15 1930
'Prin. & mt. payable at American Trust Co.
Barre & Montp Trac 1st M g f 1897
5 g M-N
100.000 Nov 1 1937
$100,000 ($500 eact). notl lot. at American Tr. Co., Boston, trustee.
subject to call
tics i
Consolidated Lighting Co____ ____ 5 J-J
700.000 Jan 1 1926
Vermont Power & Ltg Co____ ____ 5 M-S
400.000 Mar 119 7
Corry-Deavitt-Frost El Co___ ____ 6 M-S
115.000 Mar 1 1910
Waterbury Light & Power Co_ _
5 M-N
70.000
See text
Stock.
-$2,472,400 pref. stock is reserved for conversion of let rtf.
mortgage bonds. Tax-free in Massachusetts.
Bonds.
-The above bonds of light and power companies are assumed
by the Montpelier & Barre Light & Power Co. $250,000 of the 1st ref.
bonds became convertible at holders' option into pref.stock at par on Mar. 1
1916. As of Dec. 311921,$27. 00 had been so converted. $361,000 addi,
tional bonds became convertible Into pref. stock at par on Mar. 1 1921
Red.as a whole at 105 and int. on any int. date on 4 weeks' notice. $1,125.000 bonds are reserved to retire underlying bonds and $752,000 for
additions and improvements at 75% of cost, $18.000 are held in treasury.
$292,000 Consol. Ltg. Co. bonds and $111,000 Vermont Power & Ltg. Co.
bonds arc held in sinking funds (included in amounts reported outstanding)
The Waterbury Light & Power Co bonds mature 6.000 yearly to Nov 1
1921; then $7,000 yearly to Nov. 11931. $55,000 had been redeemed up
to Dec. 311921. The Barre & Montpelier Traction let Mtge. 58 originaiy
fell due Nov. 1 1917 but were extended for 20 years.
Dividends.
-A city. of $2 50 was paid on. tne pref. stock Apr. 1 1913.
covering the 5 months from date of organization on Nov. 12 1912 to April 12
1913; $150 paid July 15 1913 and $150 quer. to and incl. Jan. 1921.
In July 1921 1 h % was paid. None since.
EARNINGS.
-For years ending Dec. 31:
Dec. 31 Yrs.-Gross Earns. Tot. Net Inc. Int.. Rents. &c. Bal.for Div.
1921
$529.530
4205.915
3148.691
$57.224
1920
220.475
562,565
131.186
89.289
1919
452,960
199.290
117.596
81.694
PROPERTY,
-Power plants have an aggregate capacity of about 16.783
h.p., and 4,000 h.p. in addition is available by contract; 7,550 h.p. is
water power. The steam plants under normal conditions are held largely
as a reserve; 130 miles of transmission lines; undeveloped water power of
about 3 000 h. p. capacity. The Barre & Montpelier Trac. & Power Co.
owns 9.75 miles of track between Barre & Montpelier. 58-lb. T rail.
Gauge 4 ft. 834 in.
OFFICERS -Ch.of Bd. of Directors. C. H. Tenney' Pres.FT T Sands,
let V.
-P., A. B. Tenney; Clerk, H. P. Wood: Treas., E. A. Bradley; Asst.
Treas.. R.0. Tenney. Awl., I. S. Hall. Under management of Charles H.
Tenney & Co., Boston.
-V. 104. p. 2015; V. 105. p. 1999.

BATON ROUGE, LA.

(Vol,. 115.

of ice plant at Port Arthur, 75 tons per day. Miles of equivalent single
track, 30.75; trackage,1.92,standard gauge; 50 pass., 4 trailers and 4 other
cars. The 20
-mile electric railway between Beaumont and Port Arthur
was formally opened on Dec. 15 1913. V. 97, p. 1822.
OFFICERS.-Pres., Chas. F. W. Wetterer; Sec., Geo. A. Peirce; Treas.,
B. B. Sawyer; Gen. Mgrs., Stone & Webster Mgt. Assn.; Mgr., A. F.
Townsend.
-V. 107. p. 695. 905, 1192, 2476; V. 109, p. 1079.2262.

BENTON HARBOR, MICH.
BENTON HARBOR-ST. JOE RAILWAY & LIGHT CO.
ORGANIZATION.
-Incorporated In Michigan in Jan. 1900 and is a consolidation of the Benton Harbor & St. Joseph Electric Ry. & Light Co.
and the St. Joseph River Traction Co.
New Control.
-In June 1922 it was reported that the company had been
sold to F. A. Bryan and a group of associates of the Indiana & Michigan
Electric Co. of South Bend for $1,000,000. V. 114. p. 2822.
Fares.
-In Sept. 1919 was auth. by the Mich. RR Comm. to increase
fares on the Interurban lines to 234 cents per mile. V. 109, p. 1079.
The $114,000 B. H. St. J. Elec. By, & Lt. 1st Mtge. 5s due Sept. 1 1920
were paid off at maturity, the co. found it necessary however to borrow
$50,000 to meet this maturity. This loan was still outstanding as of Apr. 1
1922.
l'OCK AND BONDS,
Date.
Interest. Outstanding. Maturity.
Jommon ($100)
$800.000
Preferred. $400.0130 ($100)-------6 F-A
400,000
See text
Refund mtge 42.500,000 goldj 1909
5 g M-N
499,500 Nov 1 1939
($500 and $1.000)
.c Interest at Columbia Tr. Go., Louisv.,trust.
cons M,$1.000,1
let
1906
5 g M-N
825,000 Nov 1 1935
(3500 and $1000)
--------c Int. at Columbia Tr. Co.. Louisv.. trustee.
03rsds.-The 1st consolidated bonds are subject to call on any int. day at
M. Of the ref. %Nods, $1.000.000 are reserved for prior liens.
Dividends.-Pref. dive. at rate of6% per annum are being paid.
EARNINGS.
-For years ending June 30:
June 30
Oper.
Net (after Other Interest, Pf.Divs. Balance.
YearRevenues. Taxes). Income.
(tc
(6%). Surplus.
1920-21
$753.218 $143,595 $21,669 394.206 $24.000 $47,058
1919-20
685,956 171,973
14,980
85,234
24,000 77,719
ROAD.
-Operates 10.36 miles of single track in St. Joseph and Benton
Harbor, with extensions of 25 miles through Eau Claire to Dowaglac and
14.33 miles to Watervliet; also operates 5 miles second track, 5.7 miles
sidings, Sze., 60.39 miles. 60. 70 and 73-lb. girder and T rails. 44 passenger and 34 other cars.
OFFICE RS.-Pres., Chas. Minary, B3nton Harbor, Mich.•, V.
-P., F. A.
Bryan; Sec., C. B. Calvert; Treas., Lee Mason.
-V. 109, p. 1079; V. 114
p. 2822.

BIDDEFORD, ME.
-A trolley road.
BIDDEFORD & SAO RR.
ORGANIZATION.- Incorporated Feb. 19 1887.
STOOK AND BONDS
Date.
Interest. Outstanding. Maturity.
A-0
Stock ($50) $100.000
$100,000 Oct'22, 4%
let mort 1300.000 ($1,000)1 1900
e g J-D
150,000 June 1 1940
gold c5, No s f but can be interest at Fidelity Trust Co.. Portland.
called in 1920_
tf
Me., trustee.
Dividends.
-During years end. June 30: 1906, 4%; 1907-09. 5%; 1910.
% (changed to s.-a.); 1911 and 1912,5%; 1913 and 1914.6%;1915,8%;
1916; 10% and special div. of 20% on Aug. 1 1916. In 1917, 10%. In
1918, 10%. In 1919, 10%. In 1920, 10%. In 1921, 10%. In 1922:
April, 5%; Oct., 4%.
E A RNINGS.-Foross
o r calendar years:
11992201 _arYe
Net.
Int., (%c. Dividends.
Balance.
$26,009
4123,806
$7 010
6:004
310.000
sur.$8.995
109,518
6,755
10.000
def.9,245
-Operates 8 miles of track between Saco. Biddeford and Old
ROAD.
Orchard Beach.
OFFICERS.
-President. C. El. Prescott, Biddeford; Secretary end
Treasurer, J. Burton Stride.
-V.70. p. 1018; V. 73. p. 491.

BATON ROUGE ELECTRIC CO.
ORGANIZATION, &c.
-Organized in Louisiana; does entire electric
railway. electric-lighting, power and gas business in Baton Rouge. Rail
way franchise expires 1940; gas 1942. electric-lighting and power. 1988
V.88. p.881.
STOCK AND BONDS.
Date.
Interest. Outstanding. Maturity
Common, $8130.000 ($100)$139.600 June'22.5%
Pref. $250,000 MOO)8%
J-D
200,000 June'22.3%
lit mortgage, $750.000, goldt 1909
5 F-A
475,500 Feb 1 1939
($500 and SI.000)-_ _co tf f Int. at Old Colony Trust Co. Boston Artiste,
Cony notes 3500,000(3100.1 1920
7 g J-J 1
160,400 Jan 1 1923
'
c*IInt. at Old Colony Trust Co.. Boston, trustee
$500 and $1.000)
Car trus.. certfs
20.400
Stock.-Dly. on pref. Is cumulative from June 1912. Redeemable at 110.
1300.000 com. stock is reserved to exchange the cony. 7% notes due Jan. 1
1923.
Bonds.
-$225.000 bonds, not incl. in amount outstanding, are in treasury
of company and may be issued at not to exceed 8% of cost of additions and
improvements. May be called, in whole (or in part for sinking fund) at
105 and int. on any int. day. Sinking tuna of 1% per annum of bonds out
BINGHAMTON, N.
began Feb. 1 1914. $49.500 canceled. The 3
-year notes are
at option of the holder before maturity into com, stock of the convertible
SCRANTON & BINGHAMTON RAILWAY.
a $ for $ basis. Are callable as a whole upon 30 days notice at company on
ORGANIZATION.-Incorp. in ailaware Oct. 15 1910. Owns entire
101 and int.
during 1921. and at 100 and hot. during 1922. V. 110, p. 76.
stock of the Scranton Montrose & Binghamton RR. (see below).
Dividends.
-On prof. 3% 5.-a. from Dec. 1911 to and incl.
Has capital of $6,003,000 stock authorized and issued. No funded debt.
Initial div. of 2% on corn. paid Dec. 1915. In 1916, 7%. InJune 1922. -V. 110, p. 2388; V. 112, p. 1742.
1917, 8%.
In 1918,8%. In 1919,8%. In 1920.8%. In 1921.9%. In 1922, June,
Scranton Montrosa, & Binghamton RR.-Oontrollod by Scranton
5%.
& Bingliam'on By.
EARNINGS.
-For 12 months ending June 30:
ORGANIZATION.
-Successor to Scranton & Binghamton RR. Owns
YearGross. Net, aft. Taxes. Int..&c. Sink. Fund.
Surplus. the entire stock of Scranton 3: Binghamton Traction Co., a controlling
1921-22
$570,261
$214,010
$49,705
8161,305 interest in the Northern Electric Ry., which owns entire stock of the
1920-21
521,224
154.500
51,623
1112,877 Northern Electric Street Ry. The
ROAD.
-Operates 6 37 miles of track in form of a single belt through for 900 years from July 1 1910 to the Northern Electric Street Ry. is leased
Scranton & Binghamton Traction Co..
Baton Rouge: 17 cars; standard gauge. Power station capacity, 1,500 k w
which has assumed the former's bonded debt.
OFFICERS.-Pres.. Harry H Hunt; V.
-Ps., Edw. Godchaux, Samuel
STOCK AND BONDSDate. Interest. Outstanding.
Wets; Sec., Victor D. Vickery; Treas., Henry B. Sawyer; Gen. Mgrs., Stone
Maturity.
It Webster Mgt. Assn.; Mgr. Thos. L. Small.
$3,033,030
-V. 101. p. 1806; V. 104, p. Stock $3,000,000
1st Mtge sink fund $10,000,000 1919 6 A-0
5,503,030 Oct 1 1949
1488; V. 110, p. 76; V. 113, p. 2404.
6% income bonds
1919
400,030 Oct 1 1949
Northern Eiec St Ry $1.200,-1 1907
5 J-D
1,200,000 June 1 1957
000 ($500 and $1,000)_ _c*I Int. at Anthracite S. Bk., Wilkes-Barre,trus.
BEAUMONT, TEX.
Bonds.
-Northern Electric Street Ry. binds are redeemable at 105 and
EASTERN TEXAS ELECTRIC CO.
intereit. Sinking fund of $10,000 per annum began Dec. 1 1912.
ORGANIZATION.-Incorp. in Texas In July 1918 as a consolidation of
ROAD.
-16 miles in operation between Scranton
the Jefferson County Traction Co., Beaumont Elec. Light & Power Co., branch to Lake Winola. The road as projected will and Montrose, with a
extend
Port Arthur Light & Power Co. and Beaumont Traction Co., all of whose N. Y. 22 passenger cars, 5 freight and 3 service Car. G to Binghamton.
tugs 4 ft. 834 in.
stocks had been owned by the Eastern Texas Electric Co. (of Me.), a holdOFFICERS.
-Pros., H. S. Fleming; V. P., R. W. Day' Sec., A. Widing company. V. 107, p. 695. Does the entire electric light and power busi- dowfield; Treas., F. A. Wollerton; And., Jas. J. Mofilit.-V.
115, P. 645.
ness in Beaumont and Port Arthur, the entire electric railway business in
-A trolley road.
(a) Binghamton Railway Co.
Beamont and operates an interurban electric railway between Beaumont
The Sctanton & Bingnamton RR.(now Scranton Montrose & Bingham'on
and Port Arthur, a distance of 20 miles. Light and power franchises in
Beaumont expire in 1963; in Port Arthur in 1943; railway franchise in RR.) owns eve^ 90% of tho stock.
Receiver Appointed.
-On Oct. 8 1918 Judge Geo. W. Ray in the U. S
Beaumont expires in 1961; interurban railway almost entirely on private
Dist. Court in Albany appointed William G. Phelps receiver for the co.
right of way.
V. 107, p. 1481.
Interest. Outstanding. Maturity.
AND BONDS.- Date.
STOCKS
-in Oct. 1919 the receiver was auth. by
Receiver's Certificates.
$1,400.000 Oct'22. 2% P. S. Comm. to issue $9,000 receiver's certifs. to meet the cost of the N. Y.
Common, $1,400,000 MOO)
extending
6 J-J
1,400.000 July '22. 3% the Port Dickinson line to Hires' condensed milk factory. V. 109. p.
Pref cum $1,450.000($100)___
1700.
5 g M-N 1,427,000 Nov 1 1912
i
let mortgage gold ($500 andt 1912
To Lift Beceivership.-In May 1920 It was reported that an order had been
c*Scr*tf_ Int. at State St. Tr. Co., Boston, trustee. obtained from U. S. Judge Geo. W. Ray approving a proposed agreement
$1,000)
7 g M-N
1,500,000 May 1 1925 by which the receivership would be relinquished within 6 mos. and the propCony notes,$2,000,000 4100. 1920
c*tfI Guaranty Trust Co., N. Y. Trustee.
000)
$500 & $1.
erty returned to the owners. V. 110, p. 2191. On April 17 1920 the
200,000 'April 11943 tective committee named below announced the partial consummation pro5 g A-0
Beaumont Traction 1st Mtge( 1903
of a
$600.000 (call at 105)___tflInt. at Interstate Tr. & Bank. Co., Trustee. formal contract made by the committee with the stockholders and the reStock.-Pref. stock is callable at 110. $50.000 held in trust for benefit ceiver of the co. under authorization of the U. S. Court. The contract
company (in addition to amount shown above).
of
That within ten days the stockholders and the receiver
provides in part:
-Authorized amount of bonds not limited. Additional bonds may shall pay and discharge $20,000 of underlying bonds matured and outstandBonds.
be issued for 75% of cost of acquisitions. 'rants.. add'n.s, &c., under certain ing. [These, we understand, have been paid off.-Ed.j (2) That the
part for sk. td.) at 105 and int. Nov. 1918. May 1919 and Nov. 1919 past-due interest on the consol.
restrictions. Callable as a whole (or in
Coupon bonds in denomination of $1.000 and $500 and registered bonds of bonds together with interest on the deferred payments, shall be made
$5,000 and multiples. V. 95, p. 1745. 368,500 in sinking fund canceled immediately. [In April 1921 we were officially informed that all interest
and $200,000 are reserved to retire the Beaumont Trac. 1st M.5s. Sinking had been paid to date.-Ed.1 (3) That within 6 months the stockholders
fund of 1% of bonds out, payable Nov. 1.$100,000 Beau. Trac. 1st M. bonds shall liquidate all outstanding receiver's certificates. Receivers' fees and
are held by Eastern Texas Elec. Co. Red., all or in part, at 105 and int. expenses provide for all floating debt and pay a substantial part of expenses
-Are cony., par for par, at any time on or before maturity into of bondholders committee. (4) That a supplemental consolidated mtge.
Notes.
fully paid corn. stock with a cash payment by the noteholder of $1 per share shall be executed reluiring the co. to sot up a proper maintenance and reand an adjustment of int. on the notes and of div. on the stock at the rate newal fund. V. 110, p. 2386; V. 111, p. 1660.
-We understand that while the first two proviForeclosure Proceedings.
last declared within the 6 mos. next preceding. If called, conversion may
be made up to and incl. redemption date, the noteholder to receive any sions of the above contract have been carried out, the stockholders have
premium payable on account of redemption. Are red., all or In part, any failed to furnish sufficient funds to discharge the receivership and have
time upon 45 days' notice as follows with int.: May 1 1921 to April 301923 failed to pay any part of the expenses of the bondholders committee. As
at 102; May 1 1923 to April 30 1924 at 101, and thereafter to maturity at a result, the committee has instituted proceedings in the U. S. Court asking
leave to foreclose the mortgage. See also V. 113. p. 1469. No further
100. V. 110. p. 1972.
Dividends.
-6% is being paid on pref. stock. Initial div.-2%-on old Information, In April 1922 it was reported that application would be
Maine corp. was paid in July 1916. In 1917 and 1918. 5%;in 1919.5%;in made for discharge of the receiver and sale of the property. V. 114, p. 1532.
In 19.,1, 8%;1922, Jan., No later information.
1920, Jan., 4%; April, 2%;July. 2%; Oct.,
-Chairman, Thos. B. Lockwood; Frank B.
Committee for First Cons. 5s.
2%; April, 2%; July, 2%; Oct., 2% •
Newell, Harry T. Ramsdell, John T. Steele; Sec., Perry E. Wurst, 291
EARNINGS.
-For 12 months ending June 30:
YearGross. Net(aft.Tax.) Oth.Int. Interest. Sink.Fund. Surplus. Elm St., Buffalo. Depositary, Fidelity Trust Co., Buffalo, and Peoples
$371,552 Trust Co., Binghamton. V. 110, p. 2386.
1921-22_$1,683,682 $573,565 $22,400 $224,413
407,514
1920-21.... 1.719.110
226,122
11,460
622,206
ORGANIZATION.
-Is a consolidation Sept. 30 1901 of the Binghamton
PROPERTY AND PLANTS.
-Combined capacity or power stations RR.Co.(chartered Aug. 11 1892 as a consolidation of all street railways in
at Beaumont and Port Arthur, 9,300 k.w. (a new unit of 4,000 k.w. Is now city) and the Bing. Lestershire & Union RR. Principal franchises granted
being installed): power is also supplied to Port Arthur Traction Co. Capacity by special Acts of Legislature, and are perpetual and practically exclusive.




Y. '

(1)

(1)

11

ELECTRIC RAILWAYS

OCT., 1922.]

-In March 1920 was auth. by the Binghamton Common
Fare Increase.
Council to increase fares to 6 cents, this rate to continue in effect until
Jan. 15 1923. V. 110. p. 1288. 2386.
STOCK AND BONDS- Date. Interest. Outstanding. Maturity.
See text
$978.995
4 F-A
Stock. $1.150.000 ($100)----- _-_See text
452.000
Binghamton RR Co mtgef 1893 5 g J-J
$900.000. g (El.000)_0'011ot. at Metropol. Tr. Co.. N. Y., Trustee.
147.000 June 1 1925
5 g J-13
Bing Lest & tin let M 250,- 1895
000 gold, principal and Interest at Metropolitan Trust, New York
Binghamton Trust Co- Trustee.
tf
Interest guar
1.833,000 Nov 1 1931
5 g M-N
Bing By let consol mtge. $2.- 1901
500.000 gold ($1.000)c•tf Int. at Fidelity Trust Co.. Buffalo, Trustee.
or Seaboard National Bank, New York.
See text
30.000
6 F-A
Equip trust certif ($90.000)._ 1915
40.000
Receiver's certificates $75.000- 1918 6%
-The bonds of 1893 mature $5,000 yearly 1910 to 1917; $10.000
Bonds.
yearly from Sept. 1 1918 to 1922 and balance Sept. 1 1923 Of the Binghamton Ry. 1st consol. mtge.. enough are reserved to retire underlying
bonds and the remainder for acquisitions, extens., &c., under careful
restrictions. They are subject to call at 110 and int. Exempt from N. Y
State, county and municipal personal property taxes. See V. 73. p. 1312;
V. 78. p. 701; V. 88. p. 748. The equipment trust certificates of 1915
mature $5,000 semi-annually. They are secured by 20 double-truck cars,
costing $118,503.
Dtvidends.-2% was paid Jan. 31 1902; 2% Mar. 3 1903; 2% April 11
1904 and 2% April 10 1905. A scrip dividend of 209' was paid April 18
1905. In 1906 to 1910 incl.. 24% yearly. In 1911. Sept., 3%. In 1912
None since.
and 1913. 4%. In 1914. Feb . 2%
-Operates 49.75 miles of track. Connects Binghamton with
ROAD.
Jphnson City, Hooper, Endicott, Union and Port Dickinson. Standard
-lb. T and girder rail; 81 motor cars and 27 trail cars.
gauge. 60-1b. to 103
-For year ending Dec. 31:
EARNINGS.
Net. Int. & Taxes. Bal., Surp.
Gross.
Year$86,443
$198,593
$285.036
$987.130
1921
63,687
199.131
262.818
977,286
1920-.
189.629 def 11 659
177.970
789.320
1919
OFFICERS.-Pres., F. L. Fuller; V.
-P., R. W. Day; Sec., W. H. Hee=
-V. 110, p. 1288, 2191,
Treas., E. M. White. Office, Binghamton, N. Y.
2386, 2567; V. 111, p 1660; V. 113, p. 1469; V. 114, p. 1532.-

BIRMIINGHAM, ALA.
BIRMINGHAM RY. LIGHT & POWER.
Controlled by the American Cities Co.(see under "New Orleans"), whicb
owns 89.62% of the common and 79.35% of the preferred stock.
.3eceiver.-On Jan. 23 1919 Judge Grubb of the Federal Court appointed
Lee 0. Bradlty receiver for this company and the Birmingham Tidewater Co. upon petition of the American Cities Co. V. 108. p. 377.
-See V. 113, p. 70.
Jtalement by Receiver as to-Status of Company.
Reorganization Plan.
-See under "American Cities Co." on a subsequent
age, and V. 114, p. 76.
-Chairman, Thos. J. Walsh; Morris K. Parker,
Committee for 6% Notes.
E. W. Rollins, Harris Stetson, Geo. Taylor; Sec.. Miss D.Earl,43 Exchange
Y. City. Depositary. Equitable Trust Co.. N. Y. Deposits
Place, N.
have been called for. V. 108, p. 1059.
-Consolidation on June 13 1901 of the Birmingham
ORGANIZATION.
Gas Co., the Consolidated Electric Light Co. and the Birmingham Ry..
Light & Power Co. Owns and operates the entire street railway, gas.
electric-light and power and steam heat business of Birmingham and all the
principal near-by cities and towns, including Brighton, Bessemer, Boyles.
Fairfield, Tarrant City, Inglenook, Edgewood and Irondale; an interurban
line, about 31.235 m.of which is in operation from East Lake to Ensley
and Pratt City; does the city lighting in Birmingham, Bessemer. Fain
field and Brighton. Franchises covering gas, electric light and power
business and street railway lines are, with some unimportant exceptions
stated to be perpetual. Has a contract with the Alabama Power Co. by
which the latter furnishes electricity for operating the railways and also for
light and power service in Birmingham. Under this contract the company's
steam station is held as a reserve plant. V. 98. p. 1691.
In April 1917 acquired the stock of the Birmingham-Tidewater Ry. In
consideration of the guaranty of that company's bond issue, principal and
Interest. V. 104, p. 1590.
Fares.
-In July 1918 the voters of Birmingham defeated a provision
-cent fare. V. 107. p. 905. On Aug. 23
authorizing the co. to charge a 6
1919, however, the City Commission auth. the co. to increase fares to 6 cts..
effective Sept. 4 1919. V. 109. p. 981. In Jan. 1921 the company was
auth. by the Alabama P. S. Comm. to increase fares from 6 to 7 cents, the
higher rate to continue in effect for 1 year. V. 112. p. 61. Compare
V. 111,p. 2422. Effective Aug. 2 1921 the co. was auth. by the Ala. P. S.
-cent fare and a 2
-cent charge for transfers. V. 113,
Comm. to collect an 8
p. 847. Compare V. 112. p. 2641. The city of Birmingham has appealed
to the Circuit Court of Montgomery County from this decision of the P. S.
Comm. V. 113. p. 1052. See also V. 113, p. 1250.
-In May 1920 the noteholders' committee named above
Note Extension.
announced that arrangements had been made for the extension of the 6%
notes due April 1 1919 to April 1 1921 at 7%. Bank interest, together with
Interest on the overdue coupons up to May 10 1920 at the rate of 6% was
paid. V. 110._10. 2191, 2657.
-The company,
Exchange of Notes for Gen. & Ref. Mtge. Bonds Proposed.
finding it impossible to take up the $1.200.000 notes(already extended for
2 years to April 1 1921 at 7%) the committee named above announced
that it had entered into a tentative agreement, under which the holders of
the notes would exchange same par for par for new gen. & ref. mtge. 20-yr.
8% bonds, ser. "A." The consent of holders of 85% of the notes outstanding is required under the plan. In Oct. 1921 we were informed that "nothing had been done so far" with regard to effecting this exchange. For
further details and a description of the new bonds, see V. 112. p. 1517.
No later information.
Interest. Outstanding
Maturity.
Date.
STOCK AND BONDS$3,900,000
J-D
See text.
Common ($100). $3,900,000_3,500.000 Dec '17. 3%
J-D
Pref($100),$3.500,000 6% cum ____
825,000 July 2 1921
5 g J-J
Birmingham Ry & El 1st M g1 1894
$1.250,000 ($1.000)____c* Int. at Central Trust Co., N. Y firmingI ham Tr. & Say. Co., Brimingham, True.
Not subject to call.
Gen. M. ref.. $10,000,000, 1901 44 g A-0 8.720,000 April 1 1954
c* Int at Canal-Commercial Tr. & Say. Bk.
gold ($1.000)
New On., True.,or at N Y.Tr.Co., N.Y.
4.664.000 May 1 195,
Ref & erten M $25,000,000 f 1907 6 g M-N
($1.000) gold sink. fund_c*(Interest at Old Colony Trust Co.. Boston.
1 Trustee, and N. Y. agency of company.
Not subject to call.
1.200.000 Apr 1 1921
7 A-0
Notes $2.000,000 ($l.000)_C 1917
-Of the new $25.000.000 bonds, 59,580.000 are reserved for prior
Bonds.
$1.200,000 for the cost of new power house if first lien on same. and
liens.
$9.486.000 for 80% of the cost of additions If the net earnings are 1
times the int. on all bonds outstanding. Incl. those to be issued, and provided
10% of gross earnings have been expended for maintenance within previous
12 months. The directors may make the rate of tot on succeeding installments not to exceed 6%. Sinking fund of 14 of 1% of bonds out began
Sept. 1 1918. On Oct. 1 1921 394.000 was held loy trustees for sinking
fund. Bonds purchased to be held alive and interest thereon reinvested.
For details of bonds, property, &c.. see V. 87. p. 1603. Of the gen. M. of
1904, no more bonds can be issued. Sinking fund of 4 of 1% of bonds out
begins Aug. 1 1924. The bonds are sub, to call at 105 & int. on any int.
day on 60 days' notice. For 1st 5s of 1894 $12,500 per ann. is pay, into
a sinking fund: $437,000 have been canceled. The notes originally matured
April 1 1919 and bore 6% int., but were extended for two years at 7%. V.
110, p. 2191. 2657. See above.
-First div. on pref. stock, of 3%. paid In Jan. 1902. and 3%
Dividends.
-a. thereafter to and incl. Dec. 1914: in June 1915. none; Dec.. 3%. In
s.
June 1916. 3% and 1% on acct of arrears; Dec.. 3%; June 1917. 3% and
1% on account of arrears; Dec., 3%; none since. On corn. stock in 1903.
3%; in 1904, 4%;In 1905, 4%; In 1906. 5%; in 1907 and 1908, none, 1909,
2%; 1910, 5%; 1911, 7%; 1912. 8%; 1913 and 1914, 6%; none since.
Interest and
Surp..for
Net after
Gross
REPORT.0th. deductions, renew.,&c.
Taxes.
Earns.
Year1920382.299
35.669.237 $1,476,693 $1,394,394
def. 124,742
1,304.286
1,179.544
4,577.356
1919
ROAD.-Operates over 155 23 miles of single track in cities of Birmingham, Bessemer and in Jefferson County. Standard gauge. All but 6 miles
70 to 100-1b. T and girder rails. Owns 293 passenger, 47 freight and 31
miscellaneous cars. Total, 371.
OFFICERS.-Pres. & Gen. Mgr., J. S. Pevear, Birmingham; Sec. &
-V. 109,
Treas., J. P. Ross; As.st. Sec. & Asst. Treas., N. II. Hawkins.
p• 1179; V. 110, p. 1414, 2191, 2657; V. Ill, p. 2422; V. 112, 0. 61, 1517,
2611; V. 113, p. 70, 847. 1052, 1250; V. 114, p. 77; V.115, p. 1099.




Birmingham-Tidewater Railway Co.
-See Birmingham Ry., Lt. & Power Co. above.
Receiver Appointed.
0RCIANIZATION.-A reorganization in 1917 of the Birmingham Ensley
it Bessemer RR, as per plan No. 1 in V. 101. p. 1013. The company's
1325.0(10 stock was transferred to the Birmingham Ry.. Lt. & Power Co. In
consideration of the latter's guaranty of the payment of prin. and int. of
this company's bonds
Committee for 1st Mtge., 5s.
-Charles H Zehnder, J. D. Kirkpatrick,
Howard R. Taylor, and Sec., Joseph Diehl Fackenthal, 165 B'war, N. Y.
Depositaries: Empire Trust Co., N. Y.. Old Colony Trust ('.o.. Boston, and
the Fidelity Trust Co.. Baltimore. Deposits have been called for.
Fare Increase.
-See Birmingham By., Lt. & Power Co. above.
BONDSInterest. Outstanding. Maturity
Date.
First mtge $4.000.000 goldl 1916
$1,500.000 Jan 11945
5 g J-J
(4500 and $1.000)
c•(Int. at Empire Trust Co., N. Y.. trustee
The bonds are red. on any int. date at 101 and int. They are guar..
p. & I., by the Birtn. Fly_ Lt. & Power Co. V. 104. p. 170').
ROAD.
-Owns and operates 31.235 miles main track.0.805 mile sidings.
&c., 0.676 mile misc.; total, 32.716 miles. 70
-lb. steel rails; standard
gauge. Has 25 P-A-Y-E steel coaches and 3 misc. cars.
-V. 104. P. 1700:
V. 109, p. 981.

BLUFFTON, IND.
MARION & BLUFFTON TRACTION CO.
-A trolley road.
OROANIZATION.-Incorp. In Indiana June 1914 as a reorganization
of the old Marion Bluffton & Eastern Trac. Co.. sold under foreclosure in
Feb. 1914. The old company was placed in receivership as a result of
a head-on collision on July 7 1912 in which four persons were killed and 60
or more Injured (V. 95. p. 297).
Fares.
-In May 1918 was auth. by the Indiana P. S. Comm. to Increase
fares from 2 to 24 cents per mile, mileage books to be sold on a basis of
2 cts. per mile and commutation books at 1.56 cents a mile. V. 106. p.2345.
On July 3 1920 fares were raised to 3 cents per mile.
STOCK AND BONDS- Date.
Interest. Outstanding. Maturity.
Stock 5216.000 ($100)------- $216.000
let M gold $504,000 ($1,000)1 1914
504,000 July 1 1934
5 g J-3
Sink. Id. 1% per annum. lint, at Fletcher Sim& Tr. Co..Indianap..Tr.
EARNINGS -For year ending Dec. 31 '1921, gross, $140,741; net, after
taxes, 538.549; other Income, 61,869; bond interest, $25,200; surplus,
$20.
ROAD.
-Operates 32 miles of track between Marion, where connection
is made with Union Trac. Co. of Indiana lines and Ind. Rye. & Light Co..
and Bluffton, Ind- connecting there with Fort Wayne & Northern Indians
Trac. and Union Trac. Co. of Indiana. Standard gauge. 70
-lb. T rail.
OFFICERS.-Pres., James W. Sale; V -P., Abram Slmmon; Sec. & Gen.
Mgr., James S. Clark; Treas., J. S. Gilliland.
-V.106, p. 2345.

BOISE CITY, IDAHO.
BOISE VALLEY TRACTION CO.
Controlled through stock ownership by the Idaho Power Co.(V. 104. P•
1148) all of whose common stock except directors'shares is in turn owned br
the Power Securities Corporation, The Idaho Power Co. also owns all
the $750,000 10-yr.5% notes of the co. The Traction Company owns in fee
alp toe railway property of the old Idaho Railway. Lt & Power Co. except
the Boise RR. Co.. Ltd. (now the Boise Street Car Co., V. 113. p. 959):
There remains outstanding agst. the property the following issue of bonds.
BON DSDate.
Interest. Outstanding
Maturity.
Boise & lot 1st M $5,000,0001 1906
5 g A-0
1918
$964.000
e ($1.000)e f&sub to call.c&rf Int at Colonial Trust Co Pittsb.. Trustee.
10-year mortgage notes
1915
5 F-A 21
750,000 Aug 24 1925
t4OAD.-72 miles single track equivalent of interurban lines and 11 miles
of city lines; total, 83 miles.
-V. 111. p. 1151: V. 114, p. 1650.

BOSTON, MASS.

BOSTON ELEVATED R AILW 4 V.
ORGANIZATION.
-Charter granted In 1897 provides for an extensive
iystem of free transfers.
On kpril 29 1903 leased from the Old Colony Street By (now merged in
the Bay State St. Ry. [now Eastern Mass. St. Ry.], all that company's
tracks in the city of Boston, amounting to 23.753 miles. The lease is for
99 years and provides that besides paying taxes the Elevated Co. will pay
6 ti% of replacement value (appraised at $353.979, less the rental of certain
short pieces of track appraised at $13.866) of the property leased as of date
Feb 16 1903. and 4% on the cost of all additions and betterments
Consolidation with West End Street Ry.-In July 1911 Massachusetts
Legislature passed an Act (signed by the Governor on July 21 1911) superseding that approved May 28 1908 (V. 86, p. 917. 1342), permitting the
consolidation of Boston Elev. and West End St. By. at the expiration of
the lease, on June 10 1922. The consolidation was carried out In accordance
with terms of the Act, holders of West End pref. stock ($50 par)
in exchange for each 2 shares thereof one share of Boston Elevated receiving
1st pref.
8% stock ($100 par), and holders of West End common receiving for each
2 shares ($50 par) one share Boston Elevated 2d pref. 7% stock ($100 par).
As a result the affairs of the West End St. By. have boon wound
co. dissolved. For full particulars of the consolidation Act andup and the
West End St. By. see "Electric Railway" Supplement of Apr. 29history of
1922.
SuOtouy3.-lta Dec. 1896 cite West 6tid Suru.‘ tty losswitl sue riga.,
SO use
the Tremont St. subway In Boston
See terms under West End Street
On Dec. 24 1904 the East Boston tunnel (under Boston Harbor) By.
was
leased by the Boston Elevated Ry. until June 10 1922 for a rental of
of 1%
of earnings of all lines owned, leased or operated. The company also collected a toll of lc. per person, which went to the city, but tolls were
ished Feb 8 1916 by an Act permitting the city to assume them each abolby act of the City Council appropriating sum sufficient to cover int. year
and
skg fd. requirements for the year. The tunnel was opened Dec. 30 1904.
It extends from the main land to East Boston, 1.4 miles,and cost $3,500.000,
On June 28 1902 Wasnington Street Subway oill became a law. The city
constructed a tunnel for elevated trains and leased same to the Boston
Elevated Ry. for 25 years at an annual rental of 41.4% of total cost of construction, which was $7,901,700 net. V 88. p.98.Proposition was ratified
by voters at Dec. 1902 election. V. 75, p. 28. 496, 1315: V. 77. p. 2097:
V 82. p_. 217. The Washington Street tunnel began operation Nov. 30
1908. V. 87. p. 1477.
In June 1906 the Mass. Legislature passed a law permitting the Boston
Elev. to construct two subways in Cambridge. and to issue stock or bonds to
meet the cost. At the end of 20 years the city of Cambridge is to have the
right to purchase these subways by paying their cest plus 7% 'tit., less divilends
V. 83. p. 93. On Jan 4 1912 the first through train was run In the
new subway; it was opened for public travel Mar. 23 1912. V. 94. D. 1185.
New Construction of Subways and Old Contracts Extended.
-In July 1911
Mass. Legislature passed an Act (accepted by the city and Boston Elev.
In Sept. 1911) providing for the construction by the city of three
additions'
subways, viz.. Dorchester Tunnel, Boylston St. Subway and East
Tunnel extensions, and the extension of all existing contracts until Boston
1936. the date to which contracts for new lines are to run. AnnualJuly 1
rental
after expiration of old contracts to be as follows:
Subway
(see under West End),41.4% on net cost; East BostonTremont St. expiring
tunnel (now
June 10 1922). 4)4% on net cost (provision for tolls from passengers using
the tunnel eliminated for extension period); Washington St. tunnel (now
expiring Nov. 30 1933), 41.4% on net cost. Annual rental for new
Cambridge connection, for first 20 years, 4)4% on net cost; thereafter lines:
4444
on net cost; Dorchester and Boylston tunnels and East Boston tunnel extension. 414% on net cost. The Act also provides that all contracts are to
after July 1 1936 until terminated by a two-years notice by either
continue
party. The various new leases and extensions of old leases were signed by
the parties thereto on Dec. 7 1911. V. 93. p. 1785.
The new Boylston St. rapid transit subway on which work was begat
Mar. 8 1912, was opened for traffic Oct. 3 1914 from the Tremont St. sub.
way, near Charles St., and the Public Gardens, westward toward Brook
line. 11.4 miles. The subway cost the city about 54.500.000(V.99, p.1213).
The extension of the East Boston Tunnel, on whici)construction was beg.ux
*siov. 29 1912. was opened March 18 1916, nermitting an 18
-minute schedule
from Central Square, Cambridge, to Maverick Square, East Boston. Estimated expenditure on this project. $2.400.000. V. 102. p. 1058. Construction of the Dorchester Tunnel. which is an extension of the Cambridge subway, was begun on May 30 1912. The operation of cars to the Broadway
Station In South Boston was begun on Dec. 15 1917, and the completed
tunnel to Andrew Square was opened for traffic on July 1 1918. On
April 4 1915 trains began operating to Washington Station, just east of
Summer and Winter stations of the Washington Street Tunnel, and the
on
Dec. 3 1916 to South Station Under. at Dewey Sq. and South Terminal
RR. station. Cost of this tunnel without equipment is estimated at upwards of 59.800.000.

12

ELECTRIC RAILWAYS

[Vol,. 115.

In Dec. 1908 the Massachusetts Railroad Commission sanctioned
-The Everett elevated extension and bridge
Everett Elevated Extension.
16.650,000 additional stock (raising stock to $19,950,000) at $110 per share,
In connection therewith were opened on Mar. 15 1919.
to defray the cost of the Cambridge subway and for the construction of the
Damages by Notse.-In Aug. 1902 Judge Mason, In the Superior Court East Cambridge and West End elevated lines. V. 87. p. 1662; V. 88, p.
at Boston, held that the company is liable for damages from noise caused 1372. In Dec. 1912 Increased Its stock from $19,959,000 to $23.950,000
by the operation of trains. V. 75. p. 496. This was affirmed April 1903 and offered stockholders the right to subscribe for nnv stock at $105 per
by Massachusetts Supreme Court. V. 76. p. 809.
share. V.95, p. 1272; V.96, p. 61.
Public Management and Operation-Service at Cost.
-On June 3 1918 the
Bonds.
-The Boston Elevated coupon bonds are in denominations of
shareholders of the company and the West End Street By. accepted $500 and $1.000(except 1911 issue, which are for $1,000 only), and registered
the Act providing for public operation with service at cost and a fixed bonds of all issues are in denominations of $1,000, $5,000. $10,000 and
rate of return on the company's common stock (compare V. 102, p. 2076; $50,000. Interest on all West End St. By. issues is payable at American
V. 104. p. 2450). A certificate accepting the Act and evidence that Trust Co. Boston, except on the 6
-year bonds of 1918, which is payable
93.000,000 new preferred stock had been subscribed for by the stock- at Old Colony Trust Co., Boston.
holders as provided therein were filed with the State Secretary later in Mr-4•Er
the month. V. 106. p. 2227, 2344, 2755. The Act went into effect
Dividend.s.-First div.. 23.1%. was paid Aug. 15 1898. In 1899, 53.(%;
July 1 1918 and provides substantially as follows: (1) Road to be managed In 1900. 444%; in 1901, 554%; in 1902 to 1913 inclusive. 6% yearly: in
by five trustees, appointed by the Governor:(2) Period of public operation, 1914 rate was reduced and in Feb. 207 was paid. In July 1914 it was de10 years or longer, at option of Commonwealth:(3) Trustees have power to cided to pay dividends quarterly (V.99. p. 341) and in Aug. 134% was paid:
regulate fares and transfer privileges, and determine character and extent Nov.,1A%. In 1915,534%.In 1916.5%. In 1917. Feb.. 134%; Ma7.
%;Aug.. 154%: Nov. city. passed (V. 105. p. 1897). Under public conof service; (4) Company to raise $3,000,000 by sale of pref. stock at not
less than par, $1,000,000 to be used as a reserve fund and $2,000,000 for trol an initial div. of $2 04 1-16 on pref. was paid in Jan. 1919. In July
add'ns & imrts.; (5) Fares must be sufficient to meet cost of service, pref. 1919 $3 50 was paid and same amount paid semi-annually since. In July
dive. at 7% and corn. diva, at rate of $5 a share for first 2 years, $5 50 for 1922 a semi-annual div. of 407 was paid on the 1st pref. stock Issued in
next 2 years and $6 during balance of period of public operation; the first exchange for the old West End St. Ry. Co. pref. stock. In Oct. 1922 334%
.
payment is to be made 6 mos. after commencement of public operation;(6) was paid on the 2d pref. stock, issued in exchange for West End St. Ry. o.
Trustees shall adopt a schedule of 8 different grades offares, of which 4 shall common stock. On common an initial div. of $2 50 was paid in Jan. 1919.
be below and 4 above rate offare first established;schedule shall be increased In April $1 25 was paid and same amount paid regularly to and incl. July
whenever fare is changed,so that there shall always be not less than 4 grades 1920. On Oct. 1 1920, $1 3734 was paid. Same amount paid reg. quar.
above and 4 below the existing fare (see "Fares" below). (7) Whenever in- to and incl. Apr. 1922. In Oct. 1922, $1 50 was paid. See under
come is Insufficient to meet cost of service, the reserve fund shall be drawn "Public Management and Operation," above.
texces i sha a e tfates rredmore e ian
i
ms certl t ansfeoot to th tleser fund;
thanasruffe
i e
ttrh;If nrret
permitted
ees
-Report of Boston Elevated Ry.for years ending Dec. 31:
REPORT.
12
n
ti t
ti o ,0rce ir.
m e lm7 to time mayay orvefix
r be
them, y cgsider a ro
b co s bto3
ert
twar as
or mo ch
o
Dec. 31 '21. Dec. 31 '20. Dec. 31 '19. Dec. 31 '18.
Years Endingfund exceeds
es
rates fare
original Revenue miles run
x49,706,697 51,359,855 53.721,249 53,021,816
amount, and income during preceding 3 mos. exceeded cost of service, next Revenue pass. carried...337,252,080 335,526,561 324,758,685 348,665,700
lower grade offare shall be adopted:if reserve fund is less than 70% of originEarnings
al amt., and during preceding 3 mos. inc. was less than cost of service, next
OS2,237,396 $33,096,764 $28,752,675 $20,337,460
high grade of fare shall be adopted. Fare shall continue to be decreased or Passenger
654,097
615,657
651,916
639,505
increased if reserve fund is above or below said limits: (9) If reserve fund is Mails, rents, adv., &c
cost of service, State shall make up the
insufficient to meet deficiency in
$32.853,053 $33,750,862 329,404,591 $20,967,965
Total
deficit and assess same upon cities and towns in which the co. operates;
310.009,996 $7,981,740 $5,704,252 $2,980,867
(10) At end of period of public management and operation, road reverts to Net earnings
280,773
423,972
93,991
85,728
board of directors, who may continue to operate same on service-at
-cost Miscell. interest, &c
plan, and pay $6 a share cam. divs.:(11) State has option of taking over the
$10,433,968 $8,262,513 $5.798,243 $3,066,595
Total
road by assuming liabilities, and paying in cash an amount equal to that
paid in by the stockholders; also State may take over West End St. Ry. if
Deductions
tatter has already been merged Into Boston Elevated, the West End pur- Taxes on railway oper'ns $1,546,758 $1,142,987 $1.045,502
$917,515
chase price to be an amount in cash equal to amount paid in by com. stock- Rent for leased roads_ _ _ 2,862.207
2,775,232
2,816,248
2,752,214
holders of West End plus par value of the pref. stock.
1,339,502
1,612,746
1,059,071
Miscellaneous rents_._ _ 1,781,225
Net loss on miscellaneous
Status at End of Public Control -V. 113. p. 1573.
9,326
7,986
9.136
6,960
physical property_ _ -Operation of Hyde Park Lines.-See V. 110, p. 2487. V. 111, p. 72.
1,120,787
1,309,477
1,307,019
Int. on funded debt.. _ _ _ 1,292,800
246,313
181,369
207,945
201,458
-The following have been appointed trustees under the Int. on unfunded debt
Trustees.
"Public Operation Act": Chairman, James P. Jackson, Samuel L. Powers, Amortization of discount
44,290
7,818
34,860
31,468
and Stanley R. Miller (Sec.). V. 106,
Winthrop Coffin
on funded debt
5.389
8,070
14.881
16,280
Miscellaneous debits_ _ _
p. 2755; V. 107. D. 80, 1836. 2374; V. 108. p.'76. 377. 479.
to Legislature.
-V. 113, p. 2503.
Recommendations of Trustees
$7,739,157 $7,146,013 $6,776.373 $6,053,302
Total deductions
-On April 3 1919 the Mass. Supreme Court In an Balance, sur. or def___sur2,694,812sur1,116,501 def978,130def2,986,706
"Control Act" Upheld.
opinion submitted to the State Senate held that the Act above described Preferred dividends, $7_
*61,250
210,000(7%)210,000
210,000
Is constitutional. The Senate requested the opinion in order to obtain Corn. dive., $5.25 per sh. 1,313,367
*596,985
1,253,668 (5)1,193,970
a decision from the court as to the constitutionality of two bills then pending, both of which provided for a rate of fare less than the cost of furnishing
Surplus or deficit_ _ _sur$1.171,445 def3347,167df$2,382,100df113,644,941
service, the deficit to be made up by direct taxation. The court held that
% on common. 2.04 1-16% on pref. x Passenger revenue miles.
*
it is within the constitutional power of the Legislature to pass such legisLatest Report.
-See earns. for 12 mos. end. June 30 1922 in V. 115, p. 759.
lation. V. 108. p. 1390, but see V. 111, p. 2139; V 112 p. 1023. In July
1921 Mayor Peters notified the Boston City Council of his intention to carry
Road Dec. 31 1921 ("R" Stands for Rapid Transit Track.)
to the U.S.Supreme Court the question of the constitutionality of the public
Milea.
Miles.
control Act as it affects the Boston Elevated By. Co. V. 113, p. 291. Main 1st track (16.804 "R") 248.162 Formerly West End St. Rs.
.426.480
See also V. 113. p. 2718, 2817; V. 114, p. 737.
Main 2d track (16.366 "R") 213.715 Leases,trkgeacc.(43.161"R").108.879
.-The total deficit Sidings, &c.(9.991 "R")...._ 73.482
Deficit of Co.for 1918-19 Assessed upon Municipalities
of the system for the year ending June 30 1919 amounted to $3,980.152,
Total (incl. 43.161 "R")__535.359
Total (incl. 43.161 "R")__535.359
int. on the bonds of the Commonwealth, making a total of
plus $59,622
Weight of girder rails is 70 to 150 lbs. Cars. 2,258; horses, 107: electric
$4.039,774 to be assessed upon cities and towns. Of this amount the taxmotors. 7,067; snow plows, &c., 206: snow sleds, 544; misc 265. Loss
e
.3
r.
\3 6 w 7 obliietig:tireyggyriefil,on -gra of l onon p e! 4
in vt'li 7
ofth
Supreme Court, of equipment by fire see V. 112, p. 848.
Boston, seeking to have the above assessment upon that city declared illegal
OFFICERS.
-Gen. Mgr., Edw, Dana; Treas., Henry L. Wilson; Gen.
but on March 3 1921, the Mass. Supreme Court dismissed the bill. V. 112. Aud., J. H. Moran.
-V. 113. p. 291. 415, 530, 847, 1052, 1469, 1573.
p. 1023. Compare V. 109, p. 774.
2503,2718, 2817; V. 114, p. 197, 518, 737,946, 2011, 2007, 2115,2239,2358.
V. 104, p. 862.
-See
Investment in Property 1911-1916.
2467, 2578, 2716, 2822; V. 115, p. 435, 542. 759, 987, 1209.
Fare Increases.-ln July 1918 a fare increase from 5 cents to 7 cents, effective Aug. 1 1918, was announced. V. 107. p. 180, 290, 400, 500. On
-cent rate
Dec. 1 1918 it again became necessary to raise the fares and an 8
-A voluntary association.
SUBURBAN ELECTRIC SECURITIES CO.
was therefore put into effect. V. 107. p. 2097. 2288. 2374. On July 10.
-This co. is a voluntary association formed in Jan.
ORGANIZATION.
1919 fares were raised to 10 cents. V. 109, p. 67. 170. On Mar. 26 1921. 1921 as a reorganization to succeed the Boston Suburban Electric Companies:
a new system of fares was established in the cities of Malden and Everett. also a voluntary association (for history see "Electric Railway Supplement'
See V. 112. p. 1282. for details. In May and June 1921 the co. announced of Oct. 30 1920) as per plan outlined in V. 112. p. 164. Under the plan
-cent fare districts from
several fare reductions, and has since established 5
holders of common shares of the Boston Suburban had the option to pay
time to time. V. 112, P. 2082, 2304, 2535. See also V. 113, p. 530, 847, an assessment of 25c. a share and receive new 1st pref. stock for an amount
1052; V. 114, p. 197.
equal at its face value to the cash assessment paid, and in addition as many
-In April 1921 the co. was auth. to operate shares of new corn. as owned of old corn.; or without paying any assessment
Operation of Jitneys Proposed.
to receive new corn. shares equal to 2007 of their holdings of old corn. shares.
jitneys. V. 112. p. 1616. Compare V. 112. p. 1517.
of an assessment of $6 25 received new
Holders
Subway.
-On May 1 1920, the State gave to the co. 1st pref.of pref. stock upon payment its face value to the cash assessment
Sale of Cambridge
stock to an amount equal at
$7,868,000 in paymentfor the Cambridge subway. We understand that the paid, and in addition as many shares of new 2d pref. as they owned of old
is rented to the company at a rate equivalent to 34 of 1% more pref., or without paying any assessment they received an amount of 2d
subway
than the Int. on the bonds Issued by the State on account of the purchase of pref. stock equal to 20% of their holdings of pref. stock. Holders of the
the property. See also V. 110. p. 1414. The extra %% to be used to retire outstanding notes received 80% of their holdings in new 8% notes. 20%
the bonds serially; the co. is to pay rental at rate of 4X% annually on the In cash, and were paid interest on their old notes to date of new notes. Conamount retired.
trols through stock ownership the Middlesex & Boston Street Ry. Onto
-The co._, with the approval of the which the Natick & Cochituate St. Ry., the Westboro & Hopkin St. By.
Disbursements of Proceeds of Sale.
Utilities, expended $1,581.000 of the proceeds of the the Newton & Boston St. Ry., the Newton St. Ry. and the Lex. & Boston
Mass. Dept. of Public
merged). Owns all cap. stk. of Norumbega Park Co.
sale of the Cambridge Subway, for the payment and cancellation of $1,- St. By. have been
and $375.000 707
581,000 7% bondsofthe West End St. Ry.due Aug.1 1919had been financed
Maturite.
STOCK AND BONDS- Date. Interest. Outstanding.
(these obligations
bonds of the same co. due Feb. 1 1918
50.296 sh.
stock
for ext. and construc- Common% cum
by funds obtained on temporary notes); $1,000,000bonds maturing Aug. 1 Co pmf
2.076 sh.
6%
lstmreo
for payment of West End St. Ry.
tion; $1,581,000
31.203 sh.
See text
2d pre stock $14 per share1920: $269,755 to retire floating debt; and $1.561,245 to cancel outstanding 10-yr coil tr bonds call at 1051 1921
8%
$880.000
debt incurred through impts. to West End St. Ry. property. See V. 110,
(Boston Safe Deposit & Trust Co., trustee.
and interest
p. 72; V. 114, p. 2716.
p. 1748, 2291, 2567; V. 111,
-Shares have no par value, but in case ofliquidation the 1st preSTOCK.
In Feb. 1920 the trustees were auth. to issue 31,500.000 30-yr. 7% coupon
entitled to $100 per share, with accrued dive..
bonds to refund a like amount of 6% bonds due Mar. 1 1920. V. 110, ferred iareholders will be 2d pref. has a like priority over the corn, shares
shares, the
658.764. This issue was taken up by notes receivable. V. 112, p. 1023. prior to all other
p.
secured by $950.000 notes and $lromo of the mtge.
Bonds.
Date. Interest. Outstanding. Maturity bonds of-Are
STOCK AND BONDSthe Middlesex & Boston St. Ry., with provision for the substituSee text'
$23,879,400
Quay
Stock.$23.950,000 ($100)---- ---other collateral and for a release of a proportionate part as bonds are
6,400,000 July'22,4% tion of
8 J-J
fund 5% of amount of issue, to gradually retire same
1st pref 8% cum ($100)-----14.029.850 Sep'22,334 0 retired. Annual sink.
M-13
--2d pref 7% cum ($100)See text.
3.000,000
-Companies owned and controlled operate in the aggregate about
ROAD.
Prof stock. 7% cum ($11111)
8.500.000 May 1 1935 122 miles of track from Needham on the south to Lowell on the north, and
4 g M-N
1905
Debentures. gold___c&r.ntff
101c1 Colony Trust Co. Boston. Registrar.
ti,nnecting at five points with the tracks of the Boston Elevated By. At
4%800.000 Oct 1 1937 Westboro connection is made with the Worcester Consolidated.
c&r_ntf 1907 44 A-0
Debentures,gold
5.000.000 Nov 1 1941
4 M-N
Debentures,gold_c*&r*-ntf 1911
-Of Boston Suburban Electric Co.for years ending Dec. 31:
REPORT.
8,286.000 Dec 1 1942
Debentures,gold_....cs&r*-ntf 1912 5 -D
Dividends.
Surplus.
4o.776
Inc.from Sec. Exp. & Int.
Period1.500.000 Mar. 1 1924
1919 6%
Debentures
$11,418
$78,003
$5,038
_
Year end. Dec. 31 1921___$94,459
50,651
Year end. Dec. 31 1920_ --- 97,427
Securities of West End St. Ry.32,600,000 Mar 1 1944
5 M-S
1914
5% bonds of 1914
OFFICERS.-Pres., Adams D. Claflin; Treas., Chas. W. Smith; Sec..
5,709.000 Aug 1 1932
-A
c* ntf 1902 4 F
Bonds ($1,000)
700,000 Jan 1 1923 John C. Carr; Asst. Treas., Frank E. Frykstrand. V. 112. p. 1618. 1743,
Bonds ($700,000)- ___c&r_ntf 1908 454 J-J
1,604,000 July 1 1930
c&r_ntf 1910 434 J-J
Bonds ($1,000)
(1) Middlesex & Boston Street Ry.-Trolley.
600,000 Nov 1 1932
ntf 1912 5 -N
Bonds
815,000 May 1 1936
OUGANIZATION.-Organized in 1907 and took over the South Middle1916 5 M-N
Bonds
Sept 1 1947 sex Street By.. sold at receivers' sale July 1 1907. and has since acquired
570,000
7 M-S
1917
Bonds
1.581.000 Aug 1 1924 and merged the Westborough & Hopkinton St. Ry.. the Natick & Cochitu-A
c*Srr_ 1918 7 F
Bonds ($1,000)
2,700,000 Feb 1 1927 ate St. Ry.(V . 87. p. 1420), the Newton St. Ry. unto which Waltham St.
1922 63/%
Bonds
1,956.000 May 1 1927 Hy. had been merged,and which had acquired Commonwealth Ave. St. Ry.
1922 6%
Bonds
and Wellesley & Boston St. Ry.), V. 89. p. 778. and the Newton & Boston
-The pref. stock outstanding Is subject to the 1st and 2d pref. St. Ry.(V. 89. p. 993). On May 9 1912 Mass. RR. Commiselon _granted
Stock.
the
stock, issued in exchange for the pref. and com, stock of stock West permission to absorb by consolidation the Lexington & Boston St. Ry. and
shall
End St. By., upon consolidation in 1922. It is proposed that
Issue $525.000 stock in exchange $ for $ for stock of absorbed company;
be subject to retirement at 105 and diva, and in liquidation receive 105 and V. 94. p. 1317.
dive. V. 106, p. 2344. Listed on Boston Stock Exch. V. 107, p. 400.




ELECTRIC RAILWAYS

OCT., 1922.]

13

Th° plan was declared effective Jan. 3 1922. Upon completion of plan
the company will have the following approximate capitalization:
$5,160.000
1. Underlying bonds
2,833,000
2. Serial bonds
784,000
3. Bay State equipment notes
14,956,000
6%, Series A
,
4. Refunding bonds, 43
2.834,400
5. Refunding bonds, 5%, Series B
972.000
6. Refunding bonds, 6%, Series C
-Remaining first and refunding bonds are reserved for additions,
Bonds.
798,700
7. Refunding bonds, 6%, Series D
date on 30 (lays'
extensions and improvements. Callable on any interestat
500,000
8. Refunding bonds, 6%, Series E
10736 and int.
to July 1 1921, inclusive,
notice as follows; Jan. 1 1917
105 and int. ; Jan. 1. 1927 to
Jan. 1 1922 to July 1 1926. inclusive, atV.
$28.838,100
Total bonds
94. p. 351.
inclusive, at 10216 and int.
July 11931.
$4,058,800
9. First Preferred stock. 6%
2,996,800
-For year ending Dec. 31 1921, gross, $1,350,316; net, *10. Preferred B stock, 6%
EARNINGS.
8.711,200
*11. Adjustment stock, 5%
after taxes, $202,657; int., &c., $177,047; bal., surp., $25,609.
8.362,600
12. Common stock
-Owns 92.704 miles of track in Newton. Waltham, WaterROAD.
24,129,400
town, Natick, Wellesley, Framingham. Hopkinton, Needham. Westboro
Total stock
Sherburn, Wayland, Belmont and Ashland, connecting with the Worcester
$52,967,500
Coqsolidated Street Ry., the Boston Elevated Ry. (at 4 points). &c
Total all securities
Forms a link in a through line from Boston to Worcester. Also owns 27.776
stock and Adjust. stock can be paid in cash or
* Divs. on the
miles of track, leases 0.745 mile; total, 28.511 miles, extending from Arling- Common stock. Pref. B
ton Heights (terminus of Boston Elev. system) through Lexington and Bed
Full details of readjustment plan will be found in V. 113. p 1983. 2079,
ford to Billerica, where cars go through to Lowell without change, and also
so the Sullivan Square, Charlestown, station of the Boston Elev. Ry., with 2405, 2504; V. 114, p. 197. See also V. 115, p. 307. 645.
branches to Waltham and to Concord. Total track owned, 120.470 miles;
In April 1922 the stockholders voted to issue $1,302,500 corn. stock for the
264 pass. and 21 work cars; 26 snow plows. 60 to 75-lb. T. and 95-lb
purpose of settling accounts with the reorgauization managers. V. 114,
-V. 111. p.370; V. 112, p. 653; V. 113, P. 1156; V. 114, p. 1766. p. 1890. Compare V. 114, p. 1765.
girder rails.

-On Nov. 1 1919 a 10-cent fan was placed into effect on all the
Fares.
company's lines. V. 109. P. 1891; V. 114, p. 1766.
Interest. Outstanding. Maturity
STOOK AND BONDS- Date.
$1,987,000 In '17.13i%
Stock. $1,987.000
1.983.000 Jan 1 1932
4l g J-J
First and ref M. $5,000,0001 1912
cl Int. at Boston Safe Dep. & Tr. Co., trustee.
gold ($1.000)

Interest. Outstanding. Maturity.
Date.
STOCK AND BONDSf
EASTERN MASSACHUSETTS STREET RAILWAY COMPANY.
$8,488,014
text) par $100
Mass, pursuant Common (see
4,108.800 Aug '22.3%
F-A 15
-Incorporated early in 1919 in
ORGANIZATION, &c.
1st pref cum (S100)
52,800 Aug'223%
-A 15
6F
So terms of the "Special Act" respecting the Bay State Street Ity. [as Sk fd stk $3,239,000 cum($100)
2,997,800
below] and has acquired substantially all the assets of that Pref B stock cum ($100)______
1
6 F-A
described
8,711,200
5 A-0 1
company, including the leases of the Boston & Chelsea RR. Co., the Boston Adjus stock cum (3100)-----& Revere Electric St. Ry. Co., the East Middlesex St. By. Co., the Win2,100,000 See text
nisimmet RR. Co., which see under separate headings below. The stocks 6% Serial Ref M bonds $54 1919 6% Trust Co.. Boston, Trustee
c*101d Colony
000.000 ($1.000)
and bonds of those companies are to remain undisturbed. The other issues
46 J-J 1 14.956,000 Jan 1 1948
1919
remaining undisturbed are the 6% equipment notes of the Bay State 4369' Ref M bonds
2,832,547 Jan 1 1948
5 J-J 1
1919
Street Ry., due serially to 1927, and $64,000 first mortgage bonds of the 5% Ref M bonds
1130,200 Sept 15 '27
Peoples Street Ry. due June 1 1923. Various underlying liens were ex- 6% Ref M bonds Ser "C"
1918 6 M-S
1841.800 Jan 1 1948
rates and these appear below.
tended at higher interest
j 31,550 Apr 1 1925
-On April 21 1919 the property of the Bay State Street Ry. (except 6% Ref M bonds Ser "D"
Sate.
1919 6A-0
1699,950 Jan 1 1948
She Rhode Island and New Hampshire lines) was sold at foreclosure
to Arthur I. Glidden, in behalf of the reorganization managers for $3,600,000 6% Ref M bonds Ser "E"
500,000 Jan 1 1948
1919 6 M-N
preparatory to reorganization as the Eastern Massachusetts St. Ry. Sale
653,000 See text
6 g F-A
was confirmed April 26 1919. V. 108, p. 1721, 1822. On May 31 1919 the Bay State St By equip notes.._ 1917
3,723.000 Dec 1 1924
5 g J-D
*Lynn & Boston 1st mtge, g.1 1894
property was conveyed to the Eastern Massashusetts Street Railway Co.
$5,379,000 ($1,000) c*_ntf(Int. at Old Colony Tr. Co., Boston, Trustee.
-On June 1 1919 the five public trustees appointed
Trustees in Control.
35,000xSept 1 1928
ntf 1899 6%
control. V. 108, p. 2122. Since then H G & D 1st mtge
by the Governor took executive
60,000xJan 11920
6%
Mystic Valley St Ely g _______
about 130 miles of non-paying lines had been discontinued.
479,000 June 1 1923
5 g J-D
*Lowell Lawrence & Haverhill} 1893
-As a result of a notice served by the Public TrusJitney Restrictions, &c.
1st mtge, $1,900,000, gold, Subj. to call for the sink, fund at 105 & int.
wore abolished
tees, that trolley service would be discontinued unless jitneys the trolley line
c*_ ntf Int. at American Trust Co., Boston, Trustee.
$1,000
the people of Danvers voted to discontinue jitneys and retain 1919 the town
64.000 Jan 1 1928
5 J-J
St Ry, West New-1 1898
V. 109. p. 1700. See also V. 109, p. 1891, 2171. In Oct. cost of main- People's1st M, a.ssumod__ntff Interest at State Street Trust Co., Boston
bury
to contribute to the
of North Reading expressed its willingness discontinued. V. 109, P. 1700.
689,000 Oct 1 1924
5 g A-0
*Brockton (Consol) St Ry lst1 1894
taining the line rather than have service
The town of Whitman, Mass., barred jitneys from its streets, but this acmort, $750,000, gold_ _ _ntf'Int. at State Tr. Co., callable at 105 & int.
Dec.3
100,000xJan 1 1929
tion was overruled by Judge Oeo. W. Kelly. of the District Court, on
Milton & Brockton) 1899 6 J-J
of Boston
1919, who held that the regulation adopted by the Whitman Board
1st mtge, $100,000- ntiffInt. at Internat. Tr. Co., Boston, Trustee,
Selectmen forbidding licenses to jitneys to compete against the company
325,000xJan 1 1929
the jitneys. V. 110, N Bedford M'dleboro & Brock} 1900
5 g J-sT
could not be sustained because it discriminated against to revoke all jitney
1st M, $325,000 ($1,000), Int. at American Tr. Co., Boston, Trustee.
p. 261. The Lynn City Council in Feb. 1920 voted
informed
ntf
gold
licenses on April 26 1920. V. 110. p. 871. In April 1921 we were the co.
operated
150,000xSept 1 1928
that no jitneys were running in competition with a P. U.lines of
g M-$
to purchase 200 Prov & Taunton St Ry 1st gl 1898 6Trust Co., Boston, Trustee.
In Feb. 1920 was auth. by the Mass. Dept.
($1,000),auth,$200,000.ntf(American
one-man cars and 12 snow sweepers from the proceeds of the sale of $2,000335,000xFeb 1 1929
St Ry 1st M1 1899 6 F-A
Dos
000 serial bonds. V.110, p.871. See also V. 111. p. 2321. P, 973), serial So Shore & g, $1,000,000_ ntffInt. at American Trust Co.. Boston, Trustee.
(31,000),
The purchase of the $2.500,000 (see offering in V. 108,
bonds of this company, issuable under the plan and also $1,000,000 of the
cash subscriptions offered to the stockholders was underwritten by Lee.
* These issues have the option of extension for 5 years from date of
Higginson & Co. See also V. 111. p. 2321.
maturity at 6%. the Lynn & Boston 1st 5s to Dec. 1 1929. the Low. Law.
company shall be managed for & Haverhill 1st 5s to June 1 1928 and the Brockton St. By. 1st 5s to Oct.
-(1) Provides that the
Special Act.
as gold bonds on any int.
10 years by 5 trustees to be appointed by the Governor of Massachusetts 1 1929. These bonds if extended will be red.years prior to new maturity
date at 103 and int. up to and incl. int. date 2
The trustees appointed for the first 5 years are:
Crowley,
date and thereafter at 101 and int.
Homer Loring, Chairman; Arthur G. Wadieigh, Fred. J.
x These issues have been extended to the dates here given in accordance
Earle P. Charlton.
Isaac Sprague,
bore 5% int.,
from
(2) Gives to the trustees absolute power to fix rates and fares (free as to with plan. The extended issues, which in all cases formerly
BrockShe jurisdiction of the P. S. Commission or any other authority) so taxes, now bear 6% with the exception of the New Bedford Middleboro &
ton St. By. 1st 5s which continued at the old int. rate. These issues with
income sufficient to pay all costs of operation (including
produce
return on the investment sufficient the exception of the last mentioned are call. at 103, and during the 5 years
maintenance and depreciation) and a
1st
to cover all interest requirements, the stated dividends on the preferred preceding maturity at 101 and int. The N. B. M'dleboro & Brockton
stocks and 6% per annum on the common stock of the new company. 5s are callable at par.
11919. V. 109. p. 72.
Fares increased by trustees from 7 to 10 cents on Julyeffect in a few places.
rights, except that the corn.
-All classes of stock have full voting
Stock.
-cent fares were put into
On Sept. 15 1920 15
effective May 2 stock had no voting rights until Jan. 1 1921, nor has it thereafter at any time
V. 111, p. 1182. In connection with a reduction in wages would also take when $5 of divs, upon the Adjust. Stk. are in default. Common stock is
in fares
1921, it was announced that a general reduction 1977, 2190. Cash fares, Lssuable under the plan to the amount permitted by the Special Act as
p. 1740,
effect. V. 112. p. 932; see also V. 112,cents, but in some instances the determined by Reorganization Manager and for any further amounts
we understand, are unchanged at 10
found necessary by the Reorg. Managers for other purposes. The 1st
number of rides sold for $1 has been increased.
fd. stock are cum., ranking equally and pro rata
pref. stock and
Based upon the P. S. Commission's appraisal of $40,282,340 as of Aug. 31 for divs. and in the sink.
liquidation, and preferred as to dividends, and also as to
property valuation will be about
1916, plus subsequent additions, the
y the permitted par and accrued dividends in liquidation, over the Prof. B stock. the
$46000,000, 6% on which, or $2,760,000. is approximatel
Adjust, stock and the corn. stock. Issue of 1st prof. stock is not limited
initial annual return on the investment. payment of principal of not ex- and may be called all or in part (when drawn by lot.) on any div. date at
(3) Pledges the credit of the State for
of this stock shall be entitled to such
new Serial Mtge. bonds maturing within 10 years 120 and divs. Any subsequent issue
of this issue in addition
ceeding $4,000,000
to be and were sold immediately so as divs. as shall be fixed at time of issue thereof. Stock
from date; $2,500,000 of these had $2.000,000 reserved for future additions to the amount shown as outstanding may be issued (a) in exchange, $ for $,
to produce $2.500,000 cash, viz.,(a) reserve fund.
for Bay State Ry. bank loans and coupon notes whose holders may choose
$500,000 as a
and improvements; (b)
from sale of other now 1st prof. in preference to sink, fund stock; (b) $ for $ for Bay State claims
&c.
An additional $1.000,000 cash had to be realized
$3,500,000 new cash not otherwise provided for; (c) compensation of committees,at par The
securities for rehabilitation, &c. This made a total of
and
sinking fund 6% stock is callable all or in part on dividend day
as a prerequisite
reader will find history int. in order of series, numbers Ito 21, inclusive, by a sinking fund to which
In the March 29 1919 issue of this publication the State Street Railway, the company is to pay each year an amount equal to the series dur Feb. 15
s Electric Companies and the Bay condensed form. An of such year, before declaring any dividends on or making any purchase
of the Massachusett
in
the predecessors, and the plan of reorganization 8, March 15 and March of any Preferred B stock, Adjustment stock of common stock. The shares
the March
extended outline of the plan appeared inModification in V. 108, p. 1390.
to be redeemed shall be determined by lot in case funds are not available
"Chronicle."
29 1919 numbers of the
the orLdnal reorganany series in its entirety. Of the sink. fd. stock $1,It was found necessary to modify in soma resp.3cts a readjustment plan for the payment ofall of the first six series and part each of series 7 to 15,
ization plan and these modifications were embraced in 1922. Under the 425,000, including
in prowere allocated to bank loans and divided among the bank creditorsremainconsumthated Sept. 30
announced in Nov. 1921 and
and $667,222 Series portion to their claims. Series 1 to 14 are for $150,000 each. The
plan $889,623 face value of coupons were redeemed converted into 1st ing
remainder of Series 7 to 15. and all
this stock being the
$1.814,000
"C" bonds issued. $3,124.000 sink, fund stock was "D" and $500,000 of series 16 to of were allocated to the coupon notes in the order of the
pref. stock and $841,800 Series "C", $699,950 Series outline of the read- maturity of the 21,
notes, beginning with $57.000 of the 7th serie4 for the 1918
Series "E" bonds were extended to Jan. 1 1948. An
maturity, and increasing gradually to $202.000, being the whole of the
justment plan follows:
21st series, for the 1932 maturity. As a matter of convenience these figures
-In Nov. 1921 the trustees made public a plan which were prepared on the assumption that the option to take 1st pref. stock in
Plan.
Readjustment
consummated with a view to
Pref. 13 stock ranks ahead
they had formulated and which has now been
plan. For statement of lieu of sinking fund stock would not be exercised.
curing the defects in the original reorganization 113, p. 2079. The plan of the Adjustment stock and the corn. stock. Dividends on this Prof. B
readjustment see V.
Call, all or in part (when drawn by
or in corn. stock.
trustees regarding proposed
form, certain modifications being made are payable in cash
was slightly changed from its originalfollowing the changes as made under lot) on any div. day at 110 and int. The rate of the dividends on this stock
the
(V. 114. p. 197) and we show in the
which in any year are paid in corn. stock (1) shall not exceed corn.rate of
stock,
the modified plan.
the divs. on the Adjust. stk. which in such year are paid in are paid in
Proposed Under Plan.
all the divs. on the Adjust, stock in such year, if any,of the divs,
unless
Existing Securities and Change
by at least 2% than the rate
corn. stock, and (2) shall be loss
Changes Proposed.
on the corn. stock which in such year are paid in corn, stock, unless all the
Existing Securities
be canceled and penalty waived in divs. on the corn. stock in such year, if any, are paid in corn. stock. The
(1) $976,590 Extended Coupons(To
for $732,442(75%)in 1-7 yr. 5% Adjust. stock is preferred over the corn. stock. Call. all or in part at
exchange
of Ref. Mtge. bonds, Series
6% serial bonds with State guarantee par and int. on any div. date. The rate of the diva, which in any year are
A.B.0 & D
payable Feb. 1923-1929, inclusive.
paid in corn. stock shall be less by at least 2% than the rate of the dive,
on the corn. stock which in such year are paid in corn, stock, unless all
) $739,000 Ser. D Ref. bds. 1925}To be extended to 1948.
divs. on the corn, stock in such year, if any, arc paid in corn. stock. Stock
1925
3) $500,000 Ser. E Ref. bds.
of this issue, in addition to the amount shown above as outstanding,could
)$972,000 Ser. C Ref. bds. 1927
To be exchanged for 1st Prof. stock, be issued in exchange, par for par,for claims against Massachusetts Electric
eliminating sink. fd. and to receive Companies participating in the plan other than claims in respect of securi(5) Sinking Fund stock
$518,240 in Corn. stk. for divs. ties expressly provided fcr.
accumulated to Feb. 11922.
-The serial ref. mtge.6s mature'250,000 each Jan. 1 1920 and 1921
Bonds.
To receive $138,884 in Corn. stk. for and $300,000 1922-1929,inclusive. $100,000 have been retired. These bonds
(6) First Preferred stock
diva, accumulated to Feb. 15 1922.
issued under the company's Refunding Mortgage, which will cover subare
To cancel divs. accumul. to Feb. 11922. stantially all of the properties subject to less than $10,000.000 underlying
(7) Preferred B stock
To be made non-cumul. to Feb. 1 1924 bonds and undisturbed securities. The interest on the Serial (is is a charge
and to cancel divs. accumulated to ahead of the interest on approximately $18,900,000 Refunding MortAdjustment stock
(8)
Feb. 1 1922.

r4




{

14

ELECTRIC RAILWAYS

gage bonds is.sued under the same mortgage. Callable at 105 en any
interest date on 60 days: notice. The 4ic7.9 refdg. mtge. bonds are red.
at 105 and Int. on any int. day up to and incl. July 1 1913. at 104 and int
In 1944. at 103 and int. in 1945. at 102 in 1946. at 101 in 1947. The 5%
ref. mtge. bonds are red. at 110 and int. on any int. day up to and incl
July 1 1938, at 109 and int. in 1939. at 108 in 1940. 107 in 1911, 106 in
1942. 105 in 1913, 104 in 1944. 103 in 1915. 102 In 1946. 101 in 1947. The
6% ref. mtge. bonds are red. at 103 and Int. on any int. date up to and incl.
Sept. 15 1926 and at 100 and int. on March 15 1927.
Additional ref. mtge. bonds other than the ref. mtge. Serial bonds,
and the other bonds issuable under the plan. may be issued to an amount
not exceeding at par value 60% of the cost of future adds. and impts.. but
only when the annual net earnings available for the payment of Interest
on the ref. mtge. bonds are at least 1% times the interest charges on all
ref. mtge. bonds outstanding and applied for and on all prior lien issues.
This net earnings provision may. by the firm of Lee, Iligginson & Co.
as now or hereafter constituted. Harris, Forbes & Co., Inc., or its successor. and the firm of William A. Read & Co., as now or hereafter constituted, be waived in respect of any issue made before Jan. 1 1929. In
the discretion of the Reorg. Mgrs. the ref. mtge. may provide that it shall
not be foreclosed for a period of 10 years, and in such event a General Mtge.
shall be created subject to the ref. mtge. and covering the same properties
and securing prin. and int. of all ref. mtge. bonds other than ref. mtge.
Serial bonds, and In the discretion of the Reorg. Mgrs. the int. or prin. or
both of the ref. mtge. Serial bonds. Interest on the ref. mtge. Serial
bonds so far as secured by this General Mtge. may be accorded priority
thereunder over any other obligation secured thereby, but subject to this
exception all obligations secured by said General Mtge. shall be equally
secured thereby. The said General Mtge. shall be subject to foreclosure
at any time in case of default.
The Bay State St. Ry. equip. notes were issued to provide, in part, for
the payment of 200 now semi-cony. P-A-Y-E cars, costing $1,631,000.
Notes are due 8131.000 annually Aug. 1 1918 to 1926, incl.. and $129.000
Aug. 11927. but callable on any int, date at 100 and int. on 6 weeks' notice.
The $131,000 which fell due on Aug. 1 1918 were purchased by the receiver.
Interest at Old Colony Trust Co., trustee. V. 105, p. 901i. The $131,000
due each Aug. 1 in subsequent years, being retired when due.
EARNINGS.
--Condensed income statement for cal. year 1921:
Total
Net before
Int. &
Bal., sur.
Revenue.
Taxes.
Taxes.
Rentals,
or
$11.318.265 $2,864.161 $348,750 $1,623,021 sur.$892.390
1921
def.
1920
13.195.276
1,131.627
204,017
1,588,146 def. 660.536
Latest earnings.
.
-For statement of earningsfor 6 mos.ending June 301922,
see V. 115, p. 435, 868.
ROAD. &c.
-Operates 701 miles of line. Power capacity 49 engines,
43,775 h. p., and 52 generators, 29,755 k. w.; 11 turbines, 22,500 h. p.
and 15.100 k.
-Chairman of Board, Roger W. Babson; Walter L. Haehnlen.
Directors.
E. Elmer Foye, W. Eugene McGregor, J. Howard Leman, Bernard W,
Trafford and E. Sohier Welch. V. 112. p. 2083.
OFFICERS.
-V.
-P. & Gen. Mgr., R. B. Stearns; Asst. Gen. Mgr..
Howard F. Fritch: Compt.. Caleb S. Jackson: Asst. Treas., H. S. Nowell:
Attorney, Philip G. Carleton.
-V. 113, p 2405. 2504, 2613; V 114, p. 730,
738, 1650, 1756, 1890, 2115, 2240; V. 115, p. 307. 435, 645. 868.
(a) Boston St Chelsea RR.
-Owns 4.37 miles of main track. Leased
to Lynn & Boston Street Ry. Co. (subsequently the Bay State St. Ry. and

now the Eastern Mass. St. Ry.) at $7,260 per annum.equal to 6% on 5121.000 stock. payable A. & 0.
(b) Boston & Revere Electric Street Ry.
ORGANIZATION.-Incorp. June 24 1889. Owns 3.78 miles of main
track. Leased from July 1 1895 for 99 years to Lynn & Boston (subsequently the Bay State Street Ry. and now the Eastern Mass. St. Ely.).
which guarantees interest on the $50.000 mtge. of 1908 and dividends on
$50.000 stock from July 1 1898 at 5% per annum.
STOCK AND BONDS- Date.
Interest. Oufstanding. Maturity.
Stock (par $100)
5 J-J
$50.000 See text
Boston & Revere Klee St Ryl 1908
5 g M-8
50,000 Sept 1 1928
$50.000 gold ($1.000)___c•lint. at American Trust Co., Boston, Trustee
Bonds -No sinking fund, but bonds ma called ony be any interest date
on six weeks' notice.
(c) East Middlesex Street Ry.
ORGANIZATION.
-Owns 19.35 miles of main track. Leased May 1
1893 to Lynn & Boston (subsequently the Bay State St. Ry. and now the
Eastern Mass. St. Ry.) for 99 years at a rental till May 1 1896 of $18.000
yearly in addition to fixed charges; then till May 1 1901 $24.000 yearly
and for remainder of lease $30.000 yearly. Eight per cent dive. had been
paid, but on May 1 1901 were increased to 10%. The 8100,000 4%
bonds due Jan. 1 1922, were retired at maturity.

[Vol,. 115.

Jan. 1905 was listed on Boston Stock Exchange. Stock was Increased to
present amount by the issue in July 1906 of 6,000 shares common and 6.000
pref., which was offered to shareholders at $105 for a block of one preferred plus one common share.
REPORT.
-For years ending Dec. 31:
Cal.
Divs. on
Other
Total
Preferred Expenses Surplus
Year- B.&.W.Stk. Income.
Income. Dividends. & Taxes. or Deficit.
1921 __ _ _
None
$25,299
None 313,42:3 sur.$11.876
$25,299
1920 ____
None
25,243
25,243
None
14,362 sur. 10,881
DIVIDENDS.
-First div. on pref. stock. $2. paid July 1 1904; 1905 to
1904. incl., $4; in 1909, 82; in 1910. Jan., 81; 1911, none: 1912. to 1915.
Incl., $2. In 1916. 5250. In 1917,32. In 1918, Jan.. $1. None since.
OFFICERS.-Pres., William M. Butler; V.
-P., A. E. Childs; Sec., J. F.
Bacon; Treas., A. E. Stone.
-(V. 105. p. 1305. 1308; V. 107. p. 1579. 1666.)
Boston & Worcester Street Ry.-Trolley.
ORGANIZATION.
-Incorporated In Massachusetts on Nov. 15 1901.
Franchise perpetual.
Owns the Framingham Union Street Ry., Framingham Southborough & Marlborough .,treet By. and the Marlborough
St Framingham St. Ry. In March 1907 Mass. RR. Commission granted
right to do an express and freight business over entire line.
On Feb. 21 1911 Mass. RR. Comm. auth. an issue of 8397,200
($100) pref. stock (auth by stockholders Feb. 2 1911). of which 6% cum.
was used to retire like amount of common issued in 1910(V. 90. P 8297.000
625) and
remainder to fund floating debt. V. 92. p. 394. 525. 659. 724
In Nov. 1912 made a contract with the Boston Elevated Ry. for the
operation of express cars over that company's tracks to the freight express
terminal on Harrison Ave.
Rates.-In 1909 single-fare unit raised from 5c. to 6c. On Oct. 1917
adopted, with the approval of the Mass. P. S. Comm., a schedule1based
on a rate of 2 cents a mile with a minimum of 6 cents for a single fare. V.
105, p. 1308. In July 1918 fares were Increased to 256c. per mile; mini,
mum charge of 6 c. unchanged. Freight rates were also advanced 25%
On March 2 1919 rates were increased to 3 cents per mile with a 7
minimum charge. Effective Dec. 17 1920, cash fares were raised -cent
from
7 to 10 cents, &c. See V. Ill, p. 2519.
In May 1917 the P. S. Comm.auttr. the issue of $270.000 additional pref.
stock and $40,000 additional let M. bonds (not Issued up to April 1 1921).
STOCK AND BONDSDate. Interest. Outstanding. Maturity.
Stock. com ($100)_
52.025.000 Dec' 17. 1 at
Pref. $457.200($100)6% cum.
M-S
457.200 Sept'18. 3%
Bost & Wor let mortgage. $2.-1 1903 4 g F-A
2.460.000
1923
500.000. gold ($1.000)c•tf(Interest at American Trust Co.,Aug 1True.
Bos.,
Pram So & ,Marl 1st mtg tff
7%
60.000 Aug 1
'Interest at American Trust Co.. Bus., 1923
Notes payable Jan. 1 1921
*390.000
• Of which $270.000 Is held by B. & W. Electric Companies.
Bonds -The Fram So & Marl. let mtge 79 were originally 5s and matured on Jan. 1 1919. but were extended for 3 years at 7%, and again to
Aug. 1 1923 at the same rate of int. V. 113. p. 2817.
Dividends.
-On pref. 3% semi-ann. from date of issue to and incl.
1918. None since. On corn. paid 3% July 1904; also 3% semi-ann.Sept.
until
Dec. 1908, when
% was paid. In 1909, June,
%; in 1910, Jan.,
1
in 1911. Dec.. 1%; in 1912. June, 155%; Dec.. 13i%. In 1913.
,
2
In 1914, 3%. In 1915, 2
In 1916,
%. In 1917. June.
%; Dec., 134%. None since.
REPORT.
-For years ending Dec. 31:
Cal.
Total
Net
Int.& Pref.Divs.
Common
Balance
Years- Revenue. Revenue.
Taxes.
(6%).
Dividends. Sur or as!.
1921___81,094.967 8206,181 8181,703
None
None sur.$24,478
1920-- 935,840
100,6,13
17.1,089
None
None def. 73.446
ROAD.
-Owns and operates 83.619 miles of track. a considerable
isortion
over private right of way, between Boston and Worcester,
including an
extension to Natick. Rails, 75-lb. Has 91 cars.
V 105, n 290. 1305. 1308 V. 106, p 85. 2755•-V. 104. p. 1700. 1800.
V 107 p 240. V 108.
p. 468, 682; V. 111, p. 2519; V. 113, p. 2404, 2612, 2817;
V. 115. p. 1209.

PUBLIC SERVICE INVESTMENT CO.
OROANizATIoN. &c.-OrginIzed In Maine In
in stocks, bonds. notes and other securities. On 1909 to hold and to deal
Oct.
Increased from 82.000.000 each of pref. and common 30 1913 stock was
to $3,000.000 each.
V. 97. p. 1289.
STOCKAuthorised. Par. Div.Period. Outstancrg. Last Die.
Common
$3.000.000 $100
$2.500.000 Aug'22.1%
Prof. 6% cum
3,000,000 100 Quar.-Feb. 2,500,000 Aug,
Stock.
-Preferred stock Is redeemable at option of company '22,1
STOCK AND BONDS- Date.
at 115.
Interest
Outstanding. Maturity
Stock 4100).3300.000
____
10
$297,700 See text
Securities Owned (Stone & Webster Properties) Dec.
311921.
Blackstone Val. G. & El__*$157,350 I Tampa Electric Co
(d) Winnisimmet (Street) RR.
b$233.800
•500.0001Galv Houston Elec.
ORGANIZATION.
-Owns 2.08 mum of main track. Leased to the Cape Breton Elec. Co
Jacksonville Traction Co___•50.000 Northern Texas El. 0o____•500,000
Lynn & Boston (subsequently the Bay State St. Ity., now the Eastern Mass.
Co____•500.000
Houghton County El.L.Co.*500.000 Pug. sd. Pow. & Lt.
St. Ry.) for 999 years from 1880 at $3 000 per annum. Capital stock Houghton
County Trac. Co.•100.000 Key West Electric CoCo.•1,466.800
Is $50.000; par $50.
a''87.800
xColumbus Elec. Co
a115.0001Key West Electric Co
*374.100
El Paso Electric Co
*525,000Illartford Elec. Light Co _a363,700
NEWPORT ELECTRIC CORP.
•Common stock. a Preferred stock. b Capital stock.
Under the management of Sanderson & Porter.
x Now Columbus Electric & Power Co.
ORGANIZATION.
-Formerly known as the Newport & Fall River
See statements of these companies (except the Blackstone Valley
Gas
St. Ry. but name changed to present title in 1920. Organized by special & Elec. Co., the Hartford Electric Lt. Co. and the ifoughton
Co. Elec. Light
-1.zt on Feb. 23 1898. July 1 1900 consolidated with Newport St. Ry. Flas Co.) on subsequent pages.
also consolidated with Newport Illuminating Co. Embraces 21.74 m. of
Dividends.
-On pref. 154% quer. since Aug. 1909 to and Including
main track in and between Newport and Fall River; also electric lighting.
Aug.
1st div.-1 %-Feb. 1 1910; Aug.. 13i%.
Was leased on July 1 1901 for 99 yrs. to the Old Colony St. By., since 1922. On
In 1911,
3%. In 1912. 3 kigx,. In 191a and 1914.
CJC12.,
merged In the Boston & Northern, subsequently known as the Bay State St
4%. In 1915. Feb.. 2%.
In 1922, Feb., 1%; May, 1%; Aug., 1%.
Ry. for a rental of 6% per annum on the stock and int. on bonds. In 1920
this leasehold (modified) was acquired by the Newport County Electric
INCOME.
-Years ending Dec. 31:
Co., but In Oct. 1921 this lease was cancelled and the property is now
operated by the stockholders. V. 113,p. 1675. Compare V. hip. 1661. Calendar
Total
• Expenses
Pref. Dies. Surplus or
The co's $240.000 let mtge. 5% bonds which matured on Aug. 1 1918
Income
& Taxes.
(6%)
Deficit.
were purchased for the account of the receiver of Bay State Street Ry. 1921
8327,995
3327.995
517.189
3150.000
sur.$160,805
but this issue was paid off as per settlement plan outlined in V. 113, p. 1675 1920
274.226
17.976
150.000 sur. 106,250
1919
216,579
8.859
150,000
stir. 57.719
STOCK. BONDS,ETC.- Date
Interest. Outstanding. Maturity.
DIRECTORS.
-Henry G. Bradlee, Russell Robb, L.
Corn stk $3,050,000 par $100-- ___J. Webster,
$1,191,000 See text
Edwin S. Webster, E. J. B. Huntoon. V. 95. p. 111;
Preferred 7% cumulative
V. 97. D. 119. 1289,
7%
35.700
1734; V. 101, p. 292.
Consol mortgage. 82.000.000. 1904 4
696.000 July 1 1954
gold ($1,000)
c•Scr tf Int. at Am. Trust Co.. Boston, Trustee.
Newport Illuminating Co 2d ---63.500 Oct 1 1921
6g
tfCentral 'Trust Co.. New York, Trustee.
mortgage, gold
BRATTLEBORO, VT.
Newp Elec Corp sec notes_ _
7
140,000 See text
Nevrp Elec Corp deb notes' _--103,000 Oct 1 1927
TWIN STATE GAS & ELECTRIC CO.
8%
1Newport Trust Co., Trustee.
call at 120
ORGANIZATION.
-Incorporated In Connecticut on Aug. 28
Bonds.-$240.000 cons. 434s are pledged as security for the $160,000 7% acquired the
Brattleboro Street ay., the Brattleboro Gas Light 1906 and
notes. Remaining consol. mtge. bonds are reserved to retire prior liens. Dover 0118 Light
Co.(V. 83. p. 562). the Bennington Electric Co.Co., the
Not redeemable. The 7% notes are secured by $240,000 cons. 4%e. Eloosick Falls illuminating
and the
Co. In Oct. 1913 acquired the
They mature $20.000 each Oct. 1 1923 to 1924, incl., and $100,000 Oct. 1
Electric Co. and in April 1914 the Cascade Lt. & Power Co. St. Johnsbury
and
1925.
Elec. Co. Furnishes gas, electric light and power to Dover, the Berlin
Dividends.
Bennington and Brattleboro, Vt.; also electric light and power N. H.. and
-A div. of 1% on corn, was paid Oct. 11922.
to Rochester,
Salmon Falls, Rollinsford, Somersworth, Berlin. Milan.
Gorham
OFFICERS.-Pres., Frank D. Lisle.
-V. 113, p. 1675.
dale, N. H.; St. Johnsbury. St. Johnsbury Center, Passumpsic,and HinsDanville,
West Danville, North Bennington, Bennington Centre, West
Brattleboro
and Newfane, Vt.; Berwick, North Berwick, South Berwick
and
BOSTON & WORCESTER ELECTRIC COMPANIES.
Me., and Hoosick Falls, N. Y., and operates the BrattleboroLebanon.
St. Ry.
ORGANIZATION.
-This is a voluntary association organized under a In June 1920 the co. was reported to have acquired
the property of the
trust agreement dated Dec. 29 1902. Its property consists of the en. Cloutman Gas & Elec. Co. at Farmington, N.
tire common stock, $60,000 preferred stock, $181.200 First Mortgage Pres.. Samuel Insult, in a letter dated Mar. 25 1916,H. V. 110, P. 2658.
said, "all the principal
bonds and $270.000 "notes payable" of the Boston & Worcester Street franchises were granted by the State
By. It has issued 33,936 4% cumulative pref. shares and 34,614 common counsel as perpetual." Control Is Legislature and have been construed by
held
shares, no par value, and 3190.000 "notes payable." In case of liquidation Power Co., control of which was In turn by the National Light, H eat dc
pref. shares receive $100 each before the participation of common. In ties Co. in Oct. 1912. V. 95, p. 1750. acquired by the Middle West 131111.




OCT., 1922.]

ELECTRIC RAILWAYS

Stockholders of record June 14 1922 were given the right to subscribe to
$2,000,000 7% prior lion stock at par ($100). V. 114, p. 2826.
Maturity.
Date. Interest. Outstanding
STOCK AND BONDS—
$1.458.600 Oct'22
%
Common. $2,500,000. ($100)1.552.500 Oct 221 X %
5 Q-M
Pref(5%cum)$2.500.000($100) ___1,110.600 Oct 221
'
7 Q-J
Prior lien (7%, cum)$3,000,000 _-2,875,400 Oct 1 1953
5 g A-0
let & ref M $10,000,000 gold' 1913
($1,000.3500 & $100)cscot(Guaranty Trust Co., N. Y., Trustee.
779.000 Oct 1 1926
$1.500.000 g ($500) 1906 4Se A-0
1st ref M.
c*tf i Int. at Columbia Trust (70.. N V.. Trustee
& $1000).
201,500 May 1 1953
6%
General mortgage $2.500,000 - ---150.000
8%
Debentures
770,700 Mar 1 1931
Bond secured notes $1,000,000 1921 8 g M-S
($100,$500 & $1,000) getfiCentral Union Trust Co., N. Y., Trustee.
45,000 Sept 1 1925
mort-1 1905
5
Dover Gas Light con
_ tt(Union Safe Dep & Trust Co.. Trustee
gage. $500.000
61.000 Fee 2 1923
5
Brattleboro Gas L Co mtg_nef 1903
1935
71 000
Hoosick Falls Illuminat'g Cot
tt rColumbla TruetCo., N. IL. Trustee.
$150.000
1930
65.000
Hoosick Falls Electric Co(
tt(Old Colony Trust Co.. Boston, Trustee.
$75.000
1923
64.000
Bennington Water Power art
Sr Light Co $100.000_ ... net'American Loan & Trust Co. Trustee.
76,800
1935
Bennington Elect Co $175.-1
tt(Columbia Trust Co., N. Y., Trustee.
000
80.000 Mar 1 1929
St Johnsbury El Co 1st M._tt 1909 5 M-S
1905
23.500 April 1 1925
Cascade Light & Power Co_
stock is red, all or in part since July 1
Stock.—The prior lien
1921 at 104, 1922 at 103 and 1923 or thereafter at 101Se and divs. ilas
equal voting power with both pref. and corn. stock if any div. remains
unpaid for one year. Is prior in lien both as to assets and earnings to the
5% pref. stock and the corn. stock. V. 109. P. 79.
Bonds.—$1.108.000 1st & ref 5s are reserved to retire underlying bonds.
Additional bonds may be issued for impte. and acquisitions at 80% of cost
provided net earns are at least 1 Se times the int, charges on all bonds out
standing. incl, those to be certified. 1st & ref. 5s are red. on or after Oct. 1
1923 at 105 and int. A depreciation reserve fund of 5% of gross earns
began Dec. 311918. V. 102, p. 1988.
Notes.—The notes of 1921 are secured by pledge of 1st & Ref. Mtge. 59
and gen. mtge. 6s in the ratio of 133 1-3%. Red., all or in part, at any
time after Feb. 28 1923 on 30 days' notice, at 105 and int. during year ending
Feb. 29 1924; 104 during year ending Feb. 28 1925; 103SS during year ending
Feb. 281926; 103 during year ending Feb. 281927; 102'-e during year ending
Feb. 29 1928; 102 during year ending Feb. 28 1929; 101Se during year
ending Feb. 28 1930, and 101 during year ending Feb. 28 1931. V. 112,
p. 1868.
Dividends.
-15% yearly has been paid regularly on pref. stock since 1907
Divs. are being reg. paid on the 7% prior pref. In Oct. 1921 3.5 of 1%
,
was paid on corn.; ame rite regularly quarterly since to and incl. Oct. 1922.
EARNINGS.—For calendar years:
Net aft. Tax. Bond Int.Ac. Balance.
Gross.
Cal. Years—
$298,122
$151,655
$449,777
$1,162,016
1921
265,041
101,969
367.014
1.074,249
1920
ROAD, &c.—Operates 5 miles of track in Brattleboro. Owns hydroelectric plants at Gorham. Brattleboro, Bennington, St. Johnsbury, Hoosick
Falls and Milton. N. II., and a steam turbine plant at Dover and St.
Johnsbury, Vt. Also has a steam plant at Farmington. N. H.
OFFICERS.—Pres., Samuel Insult; V -Pr., W. A. Buttrick: Sec. H. L.
,
Harris; Treas. C. A. Forrest. Gen. offices, Bo ton, Mass.—V. 106, p.• 79;
V. 110, p. 79,659, 2658; V. 112, p. 1868; V. 114, p. 2126, 2826.
'

X%

15

Interest. Outstanding.
Maturity.
STOCKS AND BONDS— Date.
0
x905:00
0
Capital stk.$12.000.000 ($10)$12, 20 000 may
1 1956
Refunding mtge. SA.925,0001 1906 4 g F-A
net__(Long Island L & Tr Co, Bkiern, trustee.
1/4.373.000 July 1 1941
( c40 01
lst151 so) M, $6.000.000 ntf_ 1891 5 J-J
z The $925,000 outstanding ref. 4s are all owned by the B. R. T. Co.,
$800.000 thereof being pledged under that company's 1st ref. mtge., the
remaining $125,000 being held in guaranty fund for performance of lease—
See above under "Guaranty Fund'. y Not incl. $1,627.000 owned by the
B. R. T. Co. and held in guaranty fund.—see above. Int. is not being
paid on bonds held in guaranty fund.
Bonds.—Mortgage of 1891 is for $6,000,000 and is a first lien on the old
Brooklyn City road and a consolidated lien on the lines acquired by consolidation in 1890. The bonds are subject to call.
Stockholders of the Brooklyn City RR. July 10 1906 authorized a new
mortgage for $6,925.000 to provide for refunding. V. 82. p. 1437. The
bonds are subject to call at 110 and interest. Int. payable at co's office.
EARNINGS.—Report for cal. years:
Oper. Rev. Net aft. Tax. Other Inc. Deduct'ns. Bal., Surp.
1921
$11,423.537 $1,787.192 $126,374 $674,774 $1,238.792
644,922 def1.005.148
74.748
9.962.253 def434.974
1920
Latest Report.—For ye it's ending June 30:
1921-22
611,687,751 $2,306,008 $160.951 $701,431 $1.765,528
683,690 def.350,858
91,843
1920-21
240,989
10,457,171
ROAD, &c.—Own 211 miles of track and operates approximately 219
miles. Has approximately 759 motor passenger cars, 54 trailers and 145
motor service cars. Power is purchased from B. R. T.
OFFICERS.—Pres., Frank Lyman; V.-Pres., H. Hobart Porter; Gen.
Mgr., Clinton E. Morgan; Sec., S. B. Olney; Treas., G. W. Jones: Aud.,
E. II. Reed.—V. 113, p. 2612; V. 114. p. 197, 1285, V. 115, p. 72. 1096.

BROOKLYN RAPID TRANSIT.
Receivership.—On Dec. 31 1918 is:elem.! Judge Julius M. Mayer in the
U. S. District Court appointed Lindley M. Garrison (former Secretary of
War) temporary receiver on Jan. 15 1919 made permanent receiver.
V. 108. p 267) of the New York Municipal RR. Corp. and the New York
Consol RR. Corp.. subsidiaries of the co.—see below—upon application
of the Westinghouse Elec. & Mfg. Co., holders of claims aggregating
$46.462 for materials and supplies furnished the company. The receivership became necessary because of the company's inability to meet interest
due Jan 1 1919 on $57.735.000 of 7% and 5% notes and also obtain fresh
capital for necessary new construction and improvements. V. 108. p 76.
s
On Jan. 6 1919 Judge Edwin Louis Garvin in the U. S. District Court
denied the application of a stockholder to have an ancillary receiver spp_ointed. V. 108. p. 170 On Jan. 15 1919 Judge Julius M. Mayer in the
U S. District Court denied the application of the city for the appointment
of a co-receiver. V 108, p. 267. On July 14 1919 the receivership was
extended to the Brooklyn Heights RR., Brooklyn, Queens County & Suburban RR . Nassau Electric RR. and Coney Island & Bklyn RE.. which
companies embrace the surface lines In Brooklyn, thus bringing the
whole system under the jurisdiction of Receiver Garrison. On Aug. 26
1919 the receivership of the surface lines was made permanent. The
extension of the receivership was made on the petition of the Central Union
Trust Co., N. Y. in its suit brought to foreclose the B. R. T. let & Ref.
M.4s of 1902, theJan.andJuly 1 1919interest on which has been defaulted.
For further particulars see V. 109, p. 269.
Receiver's Certificates.—On May 29 1919 Judge Mayer in the U. S.
Dist. Court auth. the receiver to issue $20,000,000 of receiver's certificates.
V. 108, p. 2240. Compare V. 108, p. 2020, 2122. The Central Union
Trust Co. filed an appeal from this order (V. 108, p. 2329) but on July 3
1919 It was affirmed by the U. S. Circuit Court of Appeals. The Court.
however, modified the order which made the certificates a lien superior
BRISTOL, CONN.
to that of the 1st Ref. M. by maintaining that mortgage unimpaired.
ELECTRIC CO.
THE BRISTOL & PLAINVILLE
V 109, p. 72, 476. On Aug. 12 1919 Fudge Mayer auth. the receiver
ORGANIZATION.—Incorp. Sept. 21 1893 in Conn. as the Bristol & to sell at 95 and int. $18.000.000 of B. R. T. receiver's certificates. The
Plainville Tramway Co., name changed to present title May 16 1921. decree impounded 70% of the earnings of the B. R. T., N. Y. Municipal
opened Aug. 12 1895; merged with Bristol Ry. Corp. and N. Y. Consol. RR. to provide for payment of prin. and bet.
Franchises perpetual. Road first
Elec. Lt. Co. Mar. 311897;steam heating plant installed in 1902; Terryvile of these certificates. At least $13.000,000 of the proceeds were for the
branch opened in 1903. Woodland St. branch opened in 1906: gas plant, purchase that amount of the certifs. of indebtedness of the receivers
Installed In 1906; underground system installed in 1916. In addition to of the two last named companies, wnich certifs. are pledged as part security
railway service. furnishes electric light and power in BrLstol, Forestville for the B. R. T. Issue of receiver's certifs. The B. R. T. certifs. are
and Terryville; gas in Bristol. Forestville and Plainville, and steam heat known as Series A and are red, at par and int. on any int. date on and
In Bristol.
after Feb 1 1920 upon 30 days' notice. The total auth. amount of this
In August 1908 a stock dividend of 50% was declared. Increasing out- series having the same security is $20.000,000. Beyond this amount any
standing amount to $375.000. V. 87. P. 96. 414.
further Issues of B. R. T. receiver's certifs. must either be subordinate In
Date. Interest. Outstanding. Maturity
STOCK AND BON Os—
lien to the $20,000,000 issue
on different property.
Q-F
$825.000 Aug '22 24 The B. R. T. receiver's certifs or must be securedto (a) B R. T.mtge.of
Stock.85.000,000 MOO) _
are superior in lien
540,000 Nov 1 194t Oct. 1 1895 as to any property In receiver's hands; and to (b) B. R. T.
1st mortgage $600,000. gold{ 1905 4ti g M-N
ntt Interest at Bristol National Bank. Bristol
($500 & $1.000)Consol. & Ref. M. of June 1 1918 (securing $29,000,000 bonds pledgee to
Subject to call at par__ __ _ Treasurer of State of Connecticut, Trustee
secure B. R. T notes) and are inferior In lien to (a)
Ref.
Dividends.—In 1899 to 1909. Incl. 6% per annum: 1910. 7%; 1911 to of 1902 ($10.000.000 of bonds secured by which are B R. T. 1stB. R.M.
pledged for
T.
and incl. 1919. 8% P. a. In 1920. 10%. In 1921, 10%.
notes) as to any property in receiver's hands: (b) Transit Development Co.
EARNINGS.—For cal. years.
certifs. of indebtedness of 1907 and indenture of July 24 1918.
Interest
Railway
Miscel.
Railway
The
Consolidated Cos.
& Taxes. Dividends. Surplus lien to certificates of the Municipal and Ry. Corp. 1st 5s are superior in
Net.
Net.
Gross.
Year—
(a) the $57.735.000 Municipal
(pledged under
$57,102
$6.666
$144,508
$82.500
$11.572 B. R. T. notes); (b) the mortgage given by the N. Y Consol. RR. Co. to
1921_ - -$152,103
33.677
119.301
62.172
80.085
10.721 secure its guaranty of said bonds: (c) $14.344.975 N. Y. Consol. RR. Cert.
1920- _ _ - 203.712
ROAD. &e.—Operates 13.74 miles of track laid with 56.60 and 72-lb
of indebtedness No. 1, but is inferior in lien to the First Mtges. of Kings
T-rail connecting Bristol with Forestville, Plainville, Lake Compounce and County Elevated RR. of 1899 and Brooklyn Union Elevated RR. of 1899.
Terryville. Standard gauge. 37 cars, 3 snow plows and 1 work car.
The psroceeds of the B. R. T.certifs. were used (1) to enable
--Chairman of board, Chas H. Tenney; Pres., A B. Ten- of N. Y. Municipal Ry Corp. to carry out the obligations under the receiver
OFFICERS.
the subway
-P., D. E. Mansou; Sec. Treas., Morris L. Tiffany, Bristol, Conn., contracts with the City of New York, to which purpose the proceeds of not
ney; V.
: less than $13.000.000 and not more than 3615_,000,000 of certifs. were
Asst. Treas., E. A. Bradley. General Managers, Chas. H. Tenney &
Boston, Mass.; Local Mgr., G. E. Cockings.—V. 103, p. 1687; V. 110, p. allocated. and (2) to enable the receiver of B. R. 'I'. to complete the power
359; V. 112, p. 256.
house and other impts. to be used in connection with the operation of the
new rapid transit lines. The proceeds of the certifs. allocated to the
purposes of N Y. Municipal Ry. Corp. were invested in the joint certifs.
BROOKLYN, N. Y.
of the receiver of that co. and of N. Y. Conan!. RR. Co.. which in turn
BROOKLYN CITY RR. Co.
ORGANIZATION.—Incorporated in N. Y. in 1853. Was leased on w.-re Pledged to secure the certifs. of the receiver of B. R. T. For the
Feb 14 1893 to the Brooklyn Heights RR. Co. for 999 years, the lease security behind these receiver's certifs. we refer the reader to V. 109. p
guaranteeing all fixed charges, organization expenses, taxes and 10% divi- 675. 774, where a description of these certifs. in detail will also be found.
dend (Oct. 1919 and subsequent dividends not paid—see B. R. T. belowi on See also V. 112,71. 2304. 2535.
lodification o Decree for Receiver's Certifs—Additional Security, &c.—In
$12,000,000 of stock (par $10). The lease was nominally to the Brooklyn
Heights Railroad Co., but the Brooklyn Rapid Transit Co. owned the May 1921 the decree auth. receiver's certifs. was modified In several reentire capital stock of the Brooklyn Heights Co. The Brooklyn Heights spects. For particulars see V. 113, p. 2535.
Extension of Receiver's Certificates.—On May 24 1921 Judge Mayer
RR. Co. was placed in the hands of a receiver July 14 1919, and in accordance with the decree of U. S. Dist. court. dated Oct. 16 1919, disaffirmed filed a decree In the Federal Court auth. the receiver to extend the payment
the lease and returned the property to the Brooklyn City RR. Co. Oct. of the $18.000,000 6% B. R. T. receiver's certifs.. maturing Aug. 1 1921 to
Feb. 1 1922, at 6% and to pay to the holders consenting to the extension
19 1919.
Guaranty Fund.—Under the terms of the lease it was provided that a a sum equal to 2% of face amount of certificates. See V. 112, p. 2304.
fund of 84,000,000 should be deposited with certain trustees by the Brook- 253. In Jan. 1922 the receiver was auth. to pay off $4,000.000 B. R. T.
lyn Heights RR. Co. as a guarantee of the performance of the terms of the receivers certifs. and to extend the remaining $14,000,000 for 1-year to
lease. It was further provided that in the event of the termination of the Feb. 1 1923 at 6% and to pay the holders thereof a sum equal to 2% of the
lease by reason of any breach, default or omission. the "said guaranty face amount of the certifs. extended. V. 114. p. 408. Of the B. R. T.
fund of $4,000,000. . . shall at once become the sole and absolute certifs. paid off $2.000,000 were cancelled and the remaining $2,000,000
property of the lessor." This guaranty fund consists of the following: are held alive. See orders of Court in V. 114, p. 408.
Power Bills of Nassau Elec. RR First Lien against That Property.—V. 109.
$2.000.000 Brooklyn Queens County & Suburban First Mtge 5% bonds;
$1.627.000 Brooklyn City ItR. First 5s: $125.000 Brooklyn City RR. Re- p. 1179. See also V. 109, p. 1272.
Digest of Reports to Court by Stone & Webster.—V. 109, p.2071. Compare
funding 4s; $25,000 B. R. T. First 5s; $250.000 B. R. T. First Refund. 5s.
We understand that the forfeiture of this fund is being contested by the preliminary report in V. 109, p. 1079.
Report of Receiver for 16Se Months ended Nov. 30 1920.—This report was
B. R. T. See also V. 113. p. 843.
The company has no power houses of its own but has a contract with the submitted to the Court early in 1921 and the "Chronicle" has devoted a
Receiver for the B R. T. by which it is supplied with power. The corn- great deal of space to the printing of a complete summary of same. Full
pany makes weekly payments of the amounts which is estimated will be details will be found In V. 112, p. 647, 740. 1613. Compare preliminary
found due for power. The amounts are not fixed and vary from time to time report of receiver in V 108. p. 263, 373.
Report as to Subway & Elevated Lines by Stone & Webster.—See V.111,p.1944
The company has a claim against the B. R. T. for the demolition of the
Brooklyn City power house.
As a result of the appointment of a receiver and the default in the pay-year 7%
Suit.—The receiver for the B. R. T. has brought suit against the co. to ment of Interest due Jan. 1 1919 on the $57,230,000 B. R. T.3
recover $10,000,000, alleged to have been advanced to it prior to the secured notes due July 1921 and on the $505.000 B. R. T. 6-year 5% sedesignation of the receivership. V. 113, p. 2612.
cured notes due July 1 1918 and the default in the payment of interest and
Fares.—The Appellate Division of the Supreme Court in Brooklyn on sinking fund on the $2.265.000 N. Y. Municipal Ry. Corp. 1st mtge. 5%
Jan. 14 1921 dismissed the application of the city authorities for a stay to sinking fund bonds. Series A, due Jan. 1 1966. the following committee
prevent the company from charging two fares on the Fiatbush Ave. line was formed to protect the holders of the aforesaid issues: Kuhn, Loeb &
pending an appeal to the Court of Appeals. Following this decision the Co. and Kidder. Peabody & Co.: Sec., Chas. E. Sigler, 54 Wall St., N. Y.
company on Jan. 17 put Into effect the extra 5-cent fare on the tine, vs 112. City. Depositary: Central Union Trust Co., 54 Wall St., N. Y. City.
p. 371. On Feb. 4 1921 the Court of Appeals held that the company has V. 108, p. 76. See statement by committee in V. 114, p. 1532. The
Central Union Trust Co. was originally a member of this committee,
the right to collect two fares on this line. V. 112, p. 561
Operation Over Williamsburg Bridge.—On Nov. 26 1921 the Appellate but resigned because of possible conflict with its duties as Trustee of the
Division reversed a decision of supreme Court justice Kelby (V. 112, first and refunding mortgage of the B. R. T. V. 109, p. 2073. In Nov.
of the 3-yr. notes had been deposited with the cornp. 2189) which upheld the city's right to operate trolley cars,.across the 1919 about $30.000.000 with the $16.544,700 of that
issue held by the War
Williamsburg Bridge (V. 113. p. 2404). The Court of Appeals at Albany, mittee which, together
N. y., on Feb. 3 1922, however, reversed the ruling of the Appellate Finance Corp.. which has been co-operating with the committee constitute
the Supreme Court thus upholding the city's right to operate over 80% of the entire amount outstanding. A majority of the N. Y.
Division of
Municipal ref. 1st mtge, bonds had also been deposited with the committee
trolleys over the bridge. V. 114, p. 625.
up to Nov. 1919. For statement by committee see V. 109, P. 2073.
Objections to Valuation of Transit Commission.—V. 114, p. 1285.




16

ELECTRIC RAILWAYS

{VOL. 115.

Outlook for Reorganization.—V. 114, p. 1532. See also V. 115, P. 1428,
ORGANIZATION.—Organized Jan. 17 1896, per plan ln "Chronicle,"
1729, 1836.
V 60. p. 1145. to succeed to the property of the old Long Island Traction
Statemen by Federal Judge Mayer Regarding Receivership and Reorganize- Company. foreclosed, a syndicate headed by the late ex Oovernor Flower
having then bought control. Is not a railroad corporation, but was ortion.—See V. 115, p. 1836.
ganized under the Business Corporation law of New York to hold the stocks
Stockholders' Committee.—Albert H. Wiggin, Chairman; Charles A
Boody, Frederick H. Ecker, Seward Prosser, Galen L. Stone, Frederick and bonds of railroad companies and to aid in the construction and equipStrauss, E. B. Sweezy and Chollis A. Austin. Sec., 115 Broadway, N. Y. ment of railroads. On June 7 1917 Gov. Whitman signed the Thompson
City. Depositaries: Mercantile Trust & Deposit Co., N. Y. City, and bill, making possible the consolidation of the holding company and its
Peoples Trust Co., Brooklyn, N. Y. V. 108, p. 76. Deposits have been various subsidiaries into a single public utility corporation. V. 104. p.2342.
ASSETS.—The following is a statement of the stocks and bonds owned
called for. V. 108, p. 377, 1164.
Tort Creditor's Committee.—Chairman, Samuel Seabury; John V. Bouvier, or controlled by the Brooklyn Rapid Transit system Dec. 31 1919.
Jr.. Robert H. Ernest and Chas. Steckler. V. 108, P. 2240.
Stocks.
Default—Committees. &c.—Default having occurred in the payment of Entire capital stock Brooklyn Heights RR. Co.(par)
3200.000
Entire
the int. due April 1 1919 on the co's. 50-yr. 5% bonds dated Oct. 1 1895 Entire capital stock Bkln. Q'ns Co. & Suburban PLR. Co.(par).. 2.000.000
corn, stock of the Nassau Electric RR. Co.. par
8,500,000
the following protective committee was formed:
63,947.75 shares out of 65.000 shares of the 4% cumulative pref.
Committee for B. R. T. 50-yr. 5s.—Chairman, Alvin W. Krech; Julian D•
stock of Nassau Elec. RR Co. par
Fairchild, Ogden Mills; Sec., Henry P. Nash, 37 Wall St., N. Y.. City; (7.859.85 shares out of 50,000 shares of the 5% non-cumulative '6,394,775
Depositaries: Equitable Trust Co., N. Y., and Kings County Trust Co.,
pref. stuck of the New York Consolidated RR. Co par
4.785.985
Bklyn., N. Y. Deposits have been called for. V. 109, p. 72, 1366.
134.308.31 shares out of 139.000 shares of the common stock
The July 1 1919 int. on the following issues having been defaulted the
of the New York C msclidated RR Co. par
13,430.831
committee named below was formed to protect the interests of the holders: Entire stock of Cone) Island & Gravesend Pty Co.. par
350.000
Coney Island & Bklyn. RR. 1st Cons. M 50-yr. 4s of 1898
$1,987,000 648.406 shares of Brooklyn Rapid Transit Co.. par
64.841
Consol. Mtge. 4% 50-yr. gold bonds, dated Dec. 15 1904
2,125,000 Entire capital stock of South Brooklyn Ry. par
500.000
Bklyn. City & Newtown RR. Co. Consol. 1st M.5s of 1899__.._ 1,933,000 0.800 shares out of 10.000 of the American Railway Traffic Co.
Committee.—A. E. Horr, David IT. Lanman, J. H. Walbridge; Sec., 500 shares of the Bridge Operating Co.. par
50.000
G. H. Thirkield. Depositary: Brooklyn Trust Co. Deposits have been 2,000 shares of N. Y. Municipal Corp par
200.000
1,000 shares out of 1.000 shares of N. Y. & Coney Isl. RR. Co..
called for V. 109, p. 1461,
100,000
50,000
Committee for B. R. T. 1st Ref. 4s.—Chairman, Walter E Frew; W. E. 500 shares out of 500 shares Pros Park & South Bklyn. R R.Co2,686,500
Edmister, Edward C. Delafield, Stephen Baker Henry C. Phipps: Secy., 26,865 shams out of 29.839 shares Con. Isl. & Bklyn. RR
shares
50.000
Fredk. K. Lister, 13 William St., N. Y. City. Depositary: Franklin 500 shares Bklyn. & North River RR Co
100
DeKalb Ave. & No Flklyn RR Co
10.000
V. 109, p. 1792.
Trust Co., Brooklyn and N. Y
25 shares Coney Island & Brooklyn Terminal Co
2.500
The int. due July 1 1919 on the Nassau Electric RR. Cons. 45 having 100 shares B'wey
Subway & Home for. Car Adv. Co
10,000
been defaulted, the following committee was formed:
27 shares Prospect Park and Coney Island RR. Co.
2,700
Committee for Nassau Elec. RR. Cons. Mtge 4s.—E. P. Maynard, A. A.
Bonds.
340,368,132
Jackson, Elon R. Brown, Haley Fiske,0. A Peabody, Beekman Winthrop;
Bklyn. Queens Co. & Sub. RR.(par)
$2.000.000
Sec., Austin W.Penchoen, 177 Montague St., Bkl n, N. Y. Depositaries: 'let M 5% bondsQ
let con M Bklyn. ns Co.& Sub.(owned by Bklyn. IftsCo.)
50.000
Brooklyn Trust Co.. Brooklyn, N. Y., and Girard Trust Co., Phila. olat
mortgage 5% bonds Brooklyn City RR.(par)
1.627.000
V. 109,p 173. Deposits have been (Jailed for. V. 109,p. 1462. 1987.
*Refunding gold
925.000
The July 1 1919 and Jan. 1 1920 int. on the 1st M. 5% bonds of the *Gold 5% bonds mtge. 4%. Brooklyn City RR
Brooklyn Rapid Transit
30.000
Brooklyn Queens County & Suburban R. It.. due 1941, having been de- Ref
mtg 4% bonds Brooklyn Rapid Transit Co
22,421
faulted the following protective committee was formed:
Ref mtg 4% bonds B R. T.(owned by Nassau El. RR.)
1.761.000
Committee for Brooklyn Queens County & Suburban 1st M. 5s.—Charles Control mtg 4% bonds Nassau Elec RR
1.161.000
A. Peabody, Alexander J. Hemphill, Ellis W. Gladwin; Sec., Fredk. S. Jamaica & Brooklyn mtge. bonds 5%.
8.000
Stevenson, 55 Cedar St.. N. Y. City. Depositary: Guaranty Trust Co., NT Y Municipal By Cornoration 5%
_
57,775.000
New York City. V. 110, p. 261: V. 114, p. 125.
Coney Island & Brooklyn first consol. mortgage 4%
':00 0
30 0
5 0
The Nov. 1 1919 int. on the Brooklyn Queens County & Suburban R. R. Coney Island & Brooklyn consol. mortgage 4%
732.000
1st Cons. M. 58, due 1941, having been defaulted the following protective Brooklyn City & Newtown mortgage 5%
7.000
committee was formed:
$88.510.00
Committee for Brooklyn Queens County & Sub. 1st Cons. &I.—Haley Fiske,
* The $2,000,000 of B Q. C.& Sub. RR. 1st 5s andP31,627,000 Brooklyn
Elon R. Brown, Chauncey M. Depew, William K. Dick, Willis McDonald; City RR. 1st 58; also 3125.000 out of the $925,000 B. C.
RR. ref. 4s h Id
Secy.. Austin Penchoen, 177 Montague St., Brooklyn, N.Y. Depositary: and $25,000 out of the $30,000 13. R. T. gold 5s and
$250,000 B. R. T.ref.
Brooklyn Trust Co.. N. Y. City and Brooklyn, N. Y. V. 109. p. 1986. mtge. 4s held, compose guaranty fund for performance
of Brooklyn City
The Oct. 1 1919 and subsequent interest on the Atlantic Ave. RR. Gen.
Co.'s lease.
Cons. 5s, due 1931, having been defaulted, the following protective com- RR.the rental due Owing to the failure of the Brooklyn Heights RR. to
Brooklyn City RR. (see that company) on Oct. 1
pay
the
mittee was formed and has called for deposits:
1919, this lease was abrogated. The disposition of this fund is being conCommittee for Atlantic Ave. RR. Gen. Cons. Mtge. 5s.—Chairman, Geo. E. tested in the courts.
Warren; Frank Colmen, Wm. Carnegie Ewen, Sec. A. N. Hazletine, 760
New Subways and Extensions.—An agreement was reached in May 1912
B'way, N. Y. City. Depositary: Columbia Tr. Co., N. Y. City. V. 112. as to how the routes of the new dual subway system In lower Manhattan
p. 256.
should be apportioned between the Interborough and Bklyn. Rapid Transit.
We are officially advised that as of Oct. 1 1922 the following interest was and the Court of Appeals at Albany having on June 29 1912 affirmed the
in default:
lecision of Justice Blackmer (V. 94, p. 1057) holding to be constitutiona
the terms of the proposed contracts with the Interborough and B. R. T..
Statement of Interest Coupons in Default at October 1 1922.
!ormal contracts were drawn up by the P. S. Comm and were signed on
Coupons Dated (see Note).
Mar.
Brooklyn Rap. Tran. Co.—lst M. 55....Apr. 1 1919 & subsequent thereto. City"19 1913. V. 96, p. 862. See caption "Rapid Transit in New York
in V. 94.
First Refunding Mortgage 4s
July 1 1919 St subsequent thereto. p. 63, 136. 488,p. 1384, 1449, 1566; V. 95. p. 48. 111, 237, 1040; V. 93,
716. 864 The new subway lines, built and to be
Gold Notes (due 1921)_ Jan. 1 1919 to July 1 1921.
-Year 7%
3
Jointly by the Brooklyn Rapid Transit and the city are as follows: built
N. Y. Municipal By. Corp.—lst M.5s-Jan. 1 1919 & subsequent thereto.
Brooklyn Heights RR.—lst Mtge. 5s Oct. 1 1919 & subsequent thereto. to(a) Subway line traversing the Borough of Manhattan from the Battery
59th St.. mostly on Broadway and connecting by tunnel under the East
Nassau Electric RR.—lst Mtge. 55_ __ Met. 1 1919 & subsequent thereto. River with subway lines in
Brooklyn,
First Consolidated Mtge. 4s
July 1 1919 & subsequent thereto. hattan, Williamsburg and Queensboro with rights over the Brooklyn, Manbridges. The Board of Estimate in
Atlantic Ave. Improv. Mtge. 5s
Jan. 1 1920 St subsequent thereto. July 1915 decided to make
the connection with the Queens lines by tunnel
Bklyn. B. B. & W.E. Gen. Mtge. 5s_Oct. 1 1919 & subsequent thereto. under the river
Bklyn.Queens Co. & Sub. RR. 1st M.5s.Julyi 1 1919 & subsequent thereto. Contract for instead of over the Queensboro Bridge, Corn. V. 101, p. 1554.
tunnel awarded in Sept. 1916 (V.103. p.1033) was completed
First Consolidated Mortgage 5s
Nov. 1 1919 & subsequent thereto. on Aug 11920. V.
Coney Isl. & Bkln. RR. Consol. M.4s_ _July 1 1919 SE subsequent thereto. from Union Square,111, p. 588. Operation of the new Broadway Subway
Note.—Interest on altissues listed above is payable semi-annually.—. subway and Fourth Manhattan, to Coney Island via the Canal Street
Avenue subway, Brooklyn, was begun on Sept. 4
,
V. 115, p. 1836.
1917. V. 105, p. 998. 1616. Operation of the Broadway Subway in
Manhattan from Times Square to Rector Street was begun Jan.
Surface Lines Returned. &c.—The rental due by the Brookllg
5
R. R. Co. to the Brooklyn City R. R. Co. on Oct. 1 1919 was not paid (V. 106, p. 188) was extended from Times Square to 57th Street 1918
and
and as a result the 26 surface lines owned by the latter and leased to the 7th Avenue on July 9 1919 (V. 109, p. 174) and to Lexington Avenue and
former were turned back to the Brooklyn City R. R. for separate operation 60th Street on Sept. 1 1919 (V. 109. p. 982). On Aug. 1 1920 the tunnel
at midnight. Oct. 18 1919—see separate statement for that company on a connecting this line with Montague St.. Brooklyn, was completed and put
Into operation. V. 111, p. 588.
previous page.
(b) Centre St. loop, connecting the different bridges and extended through
The Brooklyn Heights RR. also defaulted in payment of the third installment of the Federal income tax (for 1918) of the Brooklyn City RR. Nassau and Broad Sta.. Manhattan, to a connection with the lower East
Co.. amounting to $46.034. The Brooklyn Heights RR. Co. under the River tunnel and the 4th Ave. subway in Brooklyn, with extensions to
terms of the lease should have paid this tax as part of the agreed rentals. 36th St. and Coney Island. Two tracks in the Centre St. loop were placed
The Brooklyn City RR. paid this installment in order to avoid the penalties In operation Aug. 4 1913 (V. 97. p. 297) and the other two were placed in
prescribed bylaw. V 109, p. 1272. See statement of Bklyn City RR. on operation from time to time during the year 1011-15 The reconstructed
'A"
Sea Beach line was placed in operation May 1 1915 from Sixty-first Street
ir
a previous page.
and Third Avenue to Coney Island. The Fourth Avenue Subway was
s DisamttnuanceOf Unprofitable Firtes.—On- Oci.' 161920 Judge 1117;t1 formally opened June
7
the U. S. Dist. Court auth. the receiver to discontinue the following to 86th St. was placed in22 1915 to Sixty-fifth Street. The extension
In
operation Jan.
On
lines, all of which failed to earn their operating expenses (exclusive of taxes) New Utrecht Ave elevated branch of the 15 1916Ave. June 24 1916 the
subway was placed
for the 9 mos. ending July 1920: Church Ave., Rogers Ave.. Ocean Ave.. In operation as far as 62d St.; on July 29Fourth
1916 line was extended to 25th
resumed June 25 1921—see below), Park Ave., Seventh Ave., Ave. and
(operation
to Coney
-Coney Island, owned by the Nassau Electric RR., and the 1918 trains over bothIsland connection on July 21 1917. Since early in
39th St.
End
Metropolitan Ave., Wyckoff Ave. and Ralph Ave. shuttle lines, owned Times Square at 42d the WestSept. and the Sea Beach lines are run from
St. (on
1 1919 this service was extended to
by the Brooklyn Queens County & Suburban RR. For further par- Lexington Ave. and 60th St.) all the way to Coney Island.
ticulars, see V. 111, p. 1660. Compare V. 111. p. 1948. In Nov. 1920
(r) Subway line extending from 6th Ave. and 14th St., Manhattan,
operations were resumed on the Metropolitan Ave. line and the 39th
&cross Manhattan, under the East River, to
St. & Coney Island line. Service on the Ocean Ave. line from Flatbush thence part subway and part elevated throughNorth 7th St., Brooklyn, _and
the
Ave. to Ave. I was also resumed. Judge Mayer consented to the resump- ropolitan, Bushwick. Jrhnson and Wyckoff Ayes.Eastern District by M etto join the Cypress Hills
service on the Church Ave. line, provided transfers were eliminated.
tion of
Contract for tunnel under East River was signed Feb 29 1916.
(V. 111, p. 1851), but the P. S. Commission in Feb. 1921 refused to permit Construction is expected to be completed late in 1921.
V. 109, p. 2439.
this. V. 112. p. 651. On Jan. 13 1921 the company ceased operating the
(d) Subway line in
Manhattan Bridge with the
Park Slope surface line. V. 112, p 371. On June 25 1921 operation of Brighton Beach RR. Brooklyn connecting In
Completed and pot
operation on Aug. 1 1920.
the Ocean Ave. line between Bergen St. and Sheepshead Bay was resumed.
addition to the above, the co. agreed to build several extensions
No transfers are exchanged. See V. 112. p. 2747. The city has established as In
track and make additions
well
bus lines over the routes on which surface car service has been discontinued. existing as thirdmost of which work has and improvements to its then
lines,
already been completed. See
V. 111, p. 1851.
V. 105, p. 399; V. 107. p. 703: also under "Rapid Transit In New York," in
Re-Routing Plan.—On March 1 1922 D. L. Turner, consulting engineer V. 104, p. 257; V. 106. p. 87. 296. 1462; V. 107, p 2477. The
confor the Transit Commission, presented to the Commission a plan proposing struction to the city of lines in the Dual Rapid Transit Systemcost of conunder
the abandonment of 26 of the surface car lines, &c. For details see V. tracts Nos. 3 and 4 (including both the Interboro and B. R. T. sec114, p. 1061.
tions), now under construction, was originally estimated at $164,294.079
Foreclosure Proceedings—Proceedings have been instituted to foreclose (not incl, allowances for the expenses of the P. S. Comm.), and the total
the B. R. T. consol & Ref. Mtge. and also the mortgage securing the cost of construction and equipment to the B. R. T. at $85,000.000. but
$60,000,000 bonds of the N. Y. Municipal Ry. Corp.: all the 329.000,000 because of additions to the work and Increased costs due largely to war
of the former and $57.735.000 of the latter being deposited as collateral for conditions these amounts are being exceeded. The total cost of the whole
the B. R. T. secured notes. V. 108. P. 877. On July 30 1919 the Equit- undertaking was estimated at 8330.000.000 but is now expected to run up
able Trust Co. instituted foreclosure proceedings in the N. Y. Federal Court to about $400.000,000. On the B. R. T. system about 117 miles of new
because of the co's. failure to pay the int. due April 1 1919 on its 37,000,000 track had been added up to Jan. 1920 to the 119 miles in operation in
50-Yr. 5% bonds dated Oct. 1 1895. V. 109. p. 476. On Aug. 28 1919 1913. See under "Rapid Transit in N. Y." in V. 166. p. 206, 1545, 1795.
Judge Mayer ordered the consolidation of the foreclosure and general See also V. 114, p. 2117. under same caption. As of June 30 1919, the
New York Municipal Railway Corporation had expended in contribution
creditors' suits against the B. R. T. and its subsidiaries. V. 109, p. 887.
to city-owned lines $11,162,363 on account ofequipment
Status Defined.—Judge Mayer in the U. S. District Court on Oct 5 1921 $12,791.309, and for add'ns. extens. & impts of existing of city-owned lines.
lines.
handed down an opinion defining the status of the lien of the gold 5s of a total of $62,795,071. The third track on the Fulton St. $38,841.399,
line between
1945, as a first lien in equity upon the property acquired with the proceeds Manhattan Jct. and Nostrand Ave. was placed in operation Dec. 27
of $2,125,000 of the bonds, and upon property acquired with later proceeds On Dec. 23 1916 the entire third-tracking of the Broadway Elevated1915.
was
amounting to $889,705, and such property acquired by the B. R. T. as is placed in operation between Marcy Ave. and Manhattan Jct.
subject to the lien of the First & Ref. Mtge. dated July 1 1902. The of the Liberty Ave. elevated extension was begun Sept. 25 1915. Operation
opinion was confined solely to the question of the priority liens as between 27 1917 the elevated extension to Jamaica was placed in operation On May
between
the trustees of the two mortgages. V. 113. p. 1573.
Cypress Hills and Richmond Hill. Operation or the Metropolitan Ave.
On Feb. 15 1919 Judge Mayer in the U. S. District Court at New York trolley line extending from Dry Harbor Road. Queens, to
auth. the receiver to accept the award of the Board of Appraisers of the was begun Sept. 25 1917. On July 2 1918 operation of theJamaica Ave.,
Jamaica
War Department of $1.428.063 for certain dock property owned by the elevated line from Greenwood Ave. to the terminus in Jamaica was Ave.
begun.
N. Y. Consol. RR. $659,000 of this sum was applied to the payment of The new Culver rapid transit line was put into operation as
prin. and int. (In March 1919) of the 1st Mtge. bonds of the Sea Beach Ry. Highway on March 16 1919, and to Ave. X on May 10 1919. far as Kings
The connecCo., all of which were owned by the Brooklyn Rapid Transit Co. Compare tion between this line and the Coney Island Terzninal was completed
in
V. 108. p. 783.
1920. In Dec. 1918 the Commission directed the preparation of a final




OCT., 1922.]

ELECTRIC RAILWAYS

17

city has filed an answer asking the disof the Fourth Avenue Sub- obligation. V. 114, p. 1764. The V. 114, p. 2358.
order fixing the status of this line as a branch 107, p 2477
missal of the suit. For details see
way. See "Rapid Transit in New York," V.
Plan of Transit Commission for Merger ttf New York City Street Railways.
-organized to carry out company's
See N. Y. Municipal By. Corp.
The N. Y. Transit Commission on Sept.29 1921 made public a plan for the
lines of
agreement with city-on a subsequent page.
readjustment and merger of street railways and rapid transit outline Greater
of plan
For extended
a 999-year lease dated Feb. 14
The Brooklyn City RR. Co. was held under for non-payment of rental. New York with eventual city ownership.
18
1893. Lease was abrogated Oct. City 1919 on a previous page. In 1898 see V. 113. n. 1431.
RR.
-For summary of Mayor Hylan's plan, made
Mayor Hylan's Transit Plan.
statement of Brooklyn
See separate
Queens County & Suburban RR. public Aug. 27 1922, providing for a municipally owned and operated subthe heights Co. leased the Brooklyn
rental being fixed charges, taxes and way system see V. 115, p. 1100, under caption "Rapid Transit in Now York
The lease was renewed year by year.
operating
expenses. On July 1 1901 the B. Q. C. & S. beganleased the City."
organization
Co. temporarily
-For year end. Dec. 31 1921 will be found
Report of Transit Commission.
separately again. On April 1 1899 the Heights made, but on June 30 1904,
were
Nassau Elec. RR. Later permanent leases 79, p. 102) compelling the issu- in V. 114, p. 301.
-V. 114, p. 1285.
consequence of a decision (V.
Objections to Valuation of Transit Commission.
presumably in
Electric RR. was canceled.
-See V. 114, p. 304.
Validity of Transit Law Upheld.
ance of transfers, the lease of the Nassau
-At a special meeting held May 23 1918, stockholders
New Mortgage.
-The receiver has brought suit against the
RR.
Suit Against Bklyn. City
to that company prior ratified the creation of a new mortgage for $150,000.000 to take the place of
Bklyn. City RR. to recover I310,000,000 advanced2612.
the present 1st & ref. mtge. of 1902, to which it is generally similar in
V. 113, p.
to use the new bonds as
to the designation of the receivership.
in April 1899 leased for the period of 999 years amount, character and scope. It was proposed
The Brooklyn Heights RR.
Island RR
York & Coney
follows: (a) $7,000,000 for retirement of bonds issued under B. R. T. mortthe Prospect Park & Coney Island RR., the New
gage of Oct. 1 1895; (b) $53,033,000 for taking up, exchanging or retiring
Park & South Brooklyn RR., but the leases of these corn
and the Prospect
.which had been
(c) $27.621.000 to replace B. R. T. refunding 4s
By.
panics were assigned in March 1907 to South BrooklynJuly 1912, however. bonds of constituent cos.;
In
$29.619,000 as collateral for loans; (e) $1,350,000 to reimburse the co.
acquired by purchase in Feb. 1902. V. 74, p. 479. shares of P. P. & So (d) the cost of $625,000 Coney Island & Bklyn. RR. Co. cons. Mtge. bonds,
for
Ry. acquired 495 out of 500
the South Brooklyn
I. (V. 95, p. 47).
Ry. Co. Cons. Mtge. bonds (these, however, were paid
Bklyn. stock and 820 out of 1.000 shares of N. Y. & C. RR.(V. 101,p $650.000 Sea Beach with part of the proceeds from the sale of some dock
C. I.
off in March 1919
and in Oct. 1915 was auth. to purchase the P. P. &
however, this transaction was still pending. The property), and $200.000 Bklyn. City RR. Co. 1st & Ref. Mtge. bonds;
1464). In Oct. 1920,
additions and Improvements. Interest rate
from New
.
South Brooklyn Railway owns the double-track road extending Brooklyn. (.1)$31.377.000 for acquisitions,
and redemption privilege for new bonds to be fixed at time of issuance.
York Bay. near 38th St., Brooklyn, to 38th St. near 9th Ave.,
Such of the bonds as may be determined by the directors may be made
stock from $150.000 to $500.000.
and in June 1907 increased its
For further details see V. 106, p.
-In Dec. 1913 the subsidiary convertible into the company's stock.
Purchase of Coney Island & Brooklyn RR.
1900, 2227; V 107, p. 703.
P. S. Comm
Coney Island & Gravesend By. received permission from the of the Coney
conditions existing at the time, the
-Because of adverse
Note Extension.
to purchase $2.637.000 of the $2,983,900 outstanding stock
co. found itself unable to take up the $57,735,000 secured notes which
Island & Brooklyn RR. V. 96. P. 1020. 1088; V. 97. p. 1897.
matured July 1 1918. The co. arranged for an advance from the War
On May 21 1904 the Brooklyn Heights Railroad Co. signed an agree
or 30% of the face value of the maturing
Williamsburg
ment with the city for operation of trolley cars over the new to cross this Finance Corp. of $17,320,500,at 7% on the condition that holders of the
notes, for a period of 3 years
Surface cars began
Bridge. See V. 78, P. 2013. 2386.
-year 7% notes. The
their holdings for new 3
of
Co
Bridge in Nov. 1904. V. 79. p. 2084. Later the Bridge Operating New notes exchange at least 70% noteholders for each $1,000 note (a) $300 cash
co. accordingly offered the
was formed, with $100,000 capital (of which one-half is owned by the
bridge. See V.79, and $700 face amount of new 3-year 7% Secured Gold notes. or (b) $1.000
the
York Rys.Company) to operate local service on Through elevated train
face amount of new notes. Holders of over 94% of the notes having acP• 626; also V. 112, p. 2189; V. 113, p. 530.
plan was declared operative July 16 1918. Up to
service over the Williamsburgh Bridge was inaugurated Sept. 16 1908. cepted this offer, the of $55,146,000 of notes had chosen option (a) and
operating over March 1 1920 holders
On Aug. 31 1915 the contracts between the companies
106. p. 2648. 2755: V. 107. p. 290. 694
Brooklyn Heights
Williamsburgh Bridge and the city, namely the Brooklyn RR. and holders of $2,084,000 option (b). V.
the
Maturity
Interest. Outstanding.
STOOK AND BONDS- Date.
RR., the Bridge Operating Co., the Coney Island &
Railways,
Q-J
See tax
New York
$74455159
Stock. $90,000.000 ($100)_ _ _ - _--the New York Railways, as assignee of theKracke, but City
operations are Receiver's certifs Ser A $20.4 1919
6 g F-A 1 14,000,000 Feb 1 1923
by Bridge Commissioner
were terminated
under temporary permits
Mailable at par and int.
000.000 ($1,000) gold
being continued at the request of the city Nov. 15 1912 the Appellate
z3,439.000 July 1 2002
4 g J-J
Tr 1st ref mtge, 1902
pending negotiations for a new contract. On
the order of the P. S. Brook Rap
$150,000,000, gold_ c*&rtf Central Trust Co., N. Y., trustee. Coupon
Division of the Supreme Court, First Dept., affirmed
Bridge from
bonds ($1,000); registered ($1.000. $5.000)
Commission reducing the fare charged over the Wililamsburgh
1402, 1471.
See text
1928
67
B R T consol and ref mtge 1918
3 to 2 cents, or three tickets for 5 cents. V. 95, p.
Columbia Irust 00., N. Y., Trustee,
under the
$150,000,000
The Transit Development Co. was organized in April 1903 exclusively
16.970.000 Oct 1 1945
5
Law, with $25.000 capital. and Is owned me was Brook Rap Tran gold mtge. 1895 at g A-0
Business Corporation
Central Tr. Co., N Y.. trustee.
entf d Int.
On July 31
$7.000.000
In the interest of the Brooklyn Rapid Transit Co.
57.230,000 July 1 1921
authorized to manufac- B RT securednotes $57,735.- 1918 7,g J-J
merged with the Brooklyn Rapid Transit. It is
000($100,$500&$1.000)gtf Central nion Trust Co.. N. Y., Trustee.
general contracting work. On March 1
ture and sell power and to do
250.000 Apr 1 1941
5 A-0
company furnishes Elrooklyn Heights RR first 1891
which the
1907 special arrangement was made by
of all the railway
mortgage, $250.000 - --_ tf Int.at People's Tr. Co., Brooklyn, trustee.
power and takes charge of the maintenance and repair
el.500,000 July 1 1941
5 g J-J
Brooklyn Queens Co & Sub 1894
Transit system, Including their equip
properties in the Brooklyn Rapid
to $500.000
first M, $3.500.000 _ntf Guar. Trust Co., New York. trustee.
meat. V. 84. p. 569. In June 1907 capital stock was increased
5 g M-N m2.834.000 July 1 1941
a tract of about
First consol M, guar p & ij 1894
The Transit Development Co. in Dee. 1913 acquired 98, p. 72. The
Island. V.
(end). $4,500,000- _ ntf Central Trust Co., New York, trustee.
90 acres in the Gravesend section of Coney
5 g J-J
.f 232.000 Jan 1 1930
Jamaica & Brook RR first 1889
requirement to supply a power-generating plant for the operation of rapid
city, arrangements have been
mortgage. $240.000__ t I Central Trust Co., New York. trustee.
transit lines having been suspended by the Co. and with the Transit De5 g F-A
15.967.000 Feb 1 1950
Eley 1st M, 1899
Brooklyn Union
made with the Interborough Rapid Transit
tf Int. at Central Tr. Co., N. Y., trustee.
guar. $16,000.000
velopment Co. for purchasing power in Manhattan and Brooklyn, respec7.000,000 Aug 1 1949
4 g F-A
1899
tively. The Transit Development Co. is accordingly largely increasing Kings Co Eley first mtge, Int. at Central Trust Co., N. Y., trustee.
$7,000.000(51.000).g(gu)ntf
Its generating capacity.
4 g J-J
p10.347.000 Jan 1 1951
-For information regarding strikes in 1919 see this sec- Nassau El RR Co cons M 1898
Strike-Wages, &c.
bonds ($1,000),$15,000.- Guaranty Trust Co.. N. Y., trustee. Bond,
tion for Apr. 24 1920. On Aug. 29 1920 the co.'s employees went on strike,
c*&rtf guar, by end. by Bklyn. Heights RR.
000
presenting demands (included in 59 articles) among which were several de5 A-0
660,000 Apr 1 1944
First mtge bonds (closed) tf 1894
produce "closed shop." An increase in the minimum wage from
signed to
Hamilton Trust Co., N. Y., trustee.
Service was paralyzed for
52 cents to 81 cents per hour was also asked.
5 g A-0
e2.241.000 A or 1 1931
several days but the co. refusing to accede to the men's demands slowly Atlantic live. gen mortgage 1891
ntf Brooklyn Trust Co., trustee.
gold (closed)
began building up its service and the strike was officially declared off on
5 g J-J
220,000 Jan 1 1934
Atlantic Ave improvement, 1894
Nov.9 1920. For further details see V. 111, p. 989. 1082, 1182. 1277. 1948.
tf Central Trust Co., New York, trustee.
gold (closed)
See also V. 111, p. 2139, 2227. A general cut in wages approximating 10%
5 g A-0
121.000 Oct 1 1933
& W. E. general 1893
1921. Changes were also made in working
B. B.
was announced, effective Aug. 5
tf Franklin Trust Co., N. Y . trustee
gold. $121,000
conditions. See details in V. 112, p. 2641; V. 113, p. 530.
5 g J-J
n2,265.000 Jan 11968
N Y Men By Corp 1st Mtge 1912
Mortgages of Constituent Companies to Secure Advances by Brooklyn Rapid
$100.000.000 ($1,000 and Interest at Central Trust Co.. New York.
-In May 1907 the New York State RR. Comm. consented to the
Transit.
Trustee.
cs&r tf
$500) gold
Bea Beach Ry.. the Canarsie RR. and the South Brooklyn By. making Coney Isl & Bklyn 1st consol 1898
4 g J-J
31,987,000 July 1 1948
mortgages of $2,000,000. $2.000,000 and $4.000.000.respectively,to secure
M $2,000.000 gold_ _ __ntf Mercantile Trust Co., New York, Trustee.
of indebtedness issued by those companies to the Brooklyn
certificates
k1.500.000 Jan 1 1955
4 g J-J
Consol mortgage $10.000,- 1904
In
Rapid Transit for moneys advanced for additions, betterments. &c.
000 gold ($1.000). ___c*tf Mercantile Trust Co.. New York, Trustee.
June 1907 Brooklyn Union Elevated authorized a mtge. for $20.000.000
5 J-J
h1.993.000 July 1 1939
Bklyn City & Newtown 1889
for $5,000,000 for same purpose; but in July 1908
and the Nassau Electric
1st M $2.000,000-ntt Mercantile Trust Co.. New York. Trustee.
Public Service Commission denied application for the approval of these let
409.562
5%
Real estate mortgages
two mortgagee. See particulars V. 87. p. 224. No bonds will be issued
ter
Rental payments in addition to payment offixed charges
under any of these mtges.. which are created simply to secure the certifi45.000
cate, of indebtedness as issued from time to time. The certificates cannot Prospect Park & Coney Island RR., yearly rental
Avenue general mortgage 5s of 1931 were subject to call in
than par and are deposited under the Brooklyn Rapid
c Atlantic
be issued at lees
1909. but many of them (how many is not known) have been stamped,
Transit first refunding mtge. V. 84. p. 1181. 1246. 1550.
liability to call.
Fares-Transfer Charges, az.-..ru Juiy 18 1919 P. S. Commissioner releasing them from the
S The Central Trust Co. of New York was trustee of this mortgage until
Lewis Nixon auth. the company to charge 2 cents for transfers on practi(since consolidated with Trust Co. of
car lines, effective Aug. 1 1919. The company had Oct. 1903, when Colonial Trust Co. Equitable Trust Co.) was substituted.
cally all its surface
merged into
applied for authority to charge 3 cents for transfers (V. 109. p. 370. 477)• America-latter being
held by Brooklyn Rapid Transit Co.
e Not including $2.000,000
Compare "Electric Railway" Section of March 29 1919, page 17, under
R. T Co.
I Not including $8.000 owned by B.
caption "Pares." See also V. 109, p. 1179. On Oct. 16 1919 transfers
h Not including $7,000 held in sinking fund.
between the elevated and subway lines were discontinued. V. 109, P. 1527.
k Not including $732,000 owned by B. R. T. Co.
,
Court of Appeal handed down a decision to tee effect
On July 8 1920 the
1 Not including $30,000 owned by B. R. T. Co.
tnat the Public Service Commission has authority under certain franchise
rn Not including $50,000 owned by B. R. T. Co. Rapid Transit Co.
agreements to hear rate increase petitions separately as to lines of the B. R.
n Not including $57,735,000 owned by Brooklyn
for increased fares
T. system, but nas not jurisdiction to hear petitions
p Not including $1,161.000 owned by 13 R T. Co.
relating to the system as a whole. The Court held that the following classes
s Not including $13.000 held in sinking fund. Co. and constituent cos.
of franchises fall outside of the scope of the decision in the Niagara Falls
z Not including $24,182,000 owned by B. R. T.
case (V. 111, jo. 188) and the famed Quimby-Rochester Street Railway case
-In the reorganization of the Long Island Traction, the old $30.Stock.
(V. 109. p. 271, 370): (1) All franchises granted by tee Legislature; (2). all
stock being
(3) all 000.000 stock paid an assessment of $10 per $100 share, the old authorized.
franchises granted by municipal authoritie,s prior to Jan. 1 1875:
5% bonds being
franchiser granted by municipal authorities subsequent to the passage of reduced to $20,000,000. and $7.000.000 of
in addition
P. S. Commission law, July 1 1907. The receiver has applied for in- against $3,000,000 of Long Island Traction. $64,840 stock
creases in those cases which are within thejurisdiction of the P. S.Comm. to amount reported outstanding is held in treasury.
In
under the above decision. For further details see V. 111. p. 188. Compare
Dividends.
-First div.. 1%. paid April I 1909; July, 1%. Oct., 1%. in
1 q %;
V. 111, p. 1751; V. 112, p. 651. No later information.
1910. 45.4%; in 1911 and 1912. 5%; in 1913 Jan. 1 '4% Apr..
Five-Cent Coney Island Fare.
-Effective May 1 1920 the co. reduced fares July increased rate to 144%: same rate quer. to and incl. Jan. 1918. April
may be
to Coney Island to 5-cents. Compare V. 110. n. 1526
1918 div. deferred (see V. 106. p. 1125, 1576). No cash dividends
Bus Operation Held Illegal.-On April 1 1920 Supreme Court Justice paid during life of 3
-year notes.
-Interest on the Brooklyn Rapid
Cropsey decided that the operation of buses in Brooklyn by the city in comInterest on Bonds, Where Payable.
petition with the co.'s lines was illegal. V. 110. p. 1414. See also V. 110, Transit mortgage of 1902 for $150.000.000 and the two Elevated issues is
p. 2658, under caption "Rapid Transit in Now York." V. 115, p. 542, un- payable at Central Union Trust Co.: on Nassau Electric bonds, including
Atlantic Avenue and West End Issues, at the Central Union Trust Co..
der "B. R. T."
-A wreck occurred on Nov. 1 1918 on the Brighton N. Y.; on the Brooklyn Queens County & Suburban mortgages and the
Wreck and Damage.
On
Beach line, resulting in the loss of nearly 100 lives and injury to more than Jamaica & Brooklyn first mortgage at the Brooklyn Trust Co.. Bklyn. M.
100 persons. V. 107. p. 1836: compare V. 112. p. 371. from $45.000,000 the B. R. T. secured notes of 1912 and on N. Y. Mun. Ry. Corp. 1st
Union Trust Co. Int, on all Coney Isl. & Bklyn. bonds
1913 Increased Its auth. stock
bonds at Central
-On Jan.3
Stock Increase.
to $90,000,000. The new stock was issued from time to time up to July 1 Is payable at Central Union Trust Co., N. Y. On Bklyn. Heights RR.
p. 61.
1902.
at People's Trust Co., Bklyn.
1914. exclusively for the conversion 01 4% bonds ofto Issue V 06.
$299,543 addi- 1st M.
P. S. Comm. for with.
-The 1918 notes are secured by pledge of an equal amount
Notes.
In Feb. 1917 applied to
to March 27 of SecuredMortgage 5s of New York Municipal By. Corp and by $29,First
tional Brooklyn Queens County & Suburban RR. bonds. Up
-year 6% bonds. The inConsolidated & Refunding Mtge. 10
authority had not been granted. No later information.
1920
Corp. and the 000.000
-In Dec. 1918 the N. Y. Municipal Ry.New York and denture also provide, for the exchange of the $10.000.000 B. R. T. Ref. 4%
Suit Against City.
of
10
Consol. &
-year
N. Y. Consolidated By, Co. brought suit against the city system in accord- bonds pledged as security for the old issue for newfrom the 6% indenture.
old
the P. S. Comm. to compel completion of the city transit alleged that, not- Ref. bonds as soon as the Ref. 4s can be released
ance with the contract of March 19 1913. The daintiffsthe dual contracts During the life of the notes the co. may pay no dividends upon its capital
or in securities or scrip unless such securities or scrip shall rank
withstanding the elapse of 6 years since the execution of
in part on
miles stock in cash
there remained unfinished and still to be constructed or completed 47 the subsequent to rights of noteholders. The notes are red, all or
of track out of a total of 115. and 19 miles of road out of a total of 41 of the any int. date on 30 days' notice at a premium of ke % for each 6 mos. which
which
1917
lines which the city assumed to construct by Jan. 1details and V. 107. p. the notes may still have to run at the date of redemption. V. 106, p. 2755.
see
company agreed to equip and operate. For further
Listed on New York Stock Exchange. V. 108. p. 1510.
2288. In Apr. 1922 the receiver for the N. Y. Municipal By. Corp. and
Mortgage for $150.000.000.-Stockholders authorized March 20 1902
the N. Y. Cons. By. Co. filed a bill of complaint in the U. S. Dist. Court first refunding 4% gold convertible bonds for $150.000,000. $59,179,000
to compel the carrying out of these contracts and to recover alleged damages
were reserved to retire bonds issued, or to be issued, under mortgages of
incurred as a result of the city's alleged failure to perform its contract




18

ELECTRIC RAILWAYS

[Vol,. 115.

constituent companies and the 87,000.000 Brooklyn Rapid Transit 5s,
ORGAN IZATION.-Incorp. at Albany on Nov. 30 1912 as a
and the rest for improvements, additions and acquisitions, as needed
consolidafrom time to time. The mortgage provides that a fund of 35.000,000 tion of the Brooklyn Union Elevated RR., Sea Beach Ry. and Canarsle
RR. V. 95, p. 1608. Brooklyn Rapid Transit owns or controls
in bonds or their proceeds be at all times at the disposal of the company 831 out of
$13,430.the $13.900.000 common stock and $4.785.985 out of the 35.for the purposes mentioned. See V. 74. P. 377. As this fund is reduced for any of the purposes authorized, more bonds may be authenticated 000.000 preferred stock.
Owns all toe outstanding stock of the N. Y. Municipal Ry. Corp. (which
by trustee and delivered to the company on its order. These bonds were
convertible into stock, par for par, before July 11914, and $29.619.000 were holds the contracts made with the City of New York in 1913 for the opera*
so converted. They are subject to call on any interest day until the year tton of subways, &c.) and guar. Its bonds, p. & I., jointly with B. R. T.
2000 at 110 and interest: after that at par and interest. See listing applies
Lease.
-All rights, &c., of the N. V Municipal Ry. Corp. under its condons in V.81, p. 18.56. 1857, for list of securities pledged for the bonds;
tract with the city have been leased and
listing applications in V. 82. p. 517; V. 83, p. 1122; V. 85. p. 1523; V.also dated RR. For terms, see statement of assigned to the New York ConsoliN. Y. Municipal Ry. Corp. below.
86.
P. 923; V. 90. p 786
The New York Consolidated in 1915 leased for 999 years the Nassau
Bonds.
-Of the $7.000.000 50
-year gold 5s of tne Brooklyn Rapid Transit. Electric RR.'s terminal at Coney Island, the consideration being $226,000
pon delivery of lease and $100 per annum from Aug. 1915 which the New
$3.000,000 went to stockholders for assessment. For description of prop
ork Municipal Ry. Corp. was authorized to charge against the cost oi
arty covered by the mortgage, see V. 62, p. 1138. See also V. 67. p.
904. construction under the
The total authorized issue of first consolidated mortgage gold 5s of the tract for construction of dual system contracts. See V.101.p.447. Connew terminal was
Brooklyn Queens County & Suburban RR is 34.500.000. of which
are in operation from Sheepshead Bay tolet in March 1916. Two tracks
Culver Terminal. The entire
000 are reserved for extensions, on which they will be a first lien. 31,616.- terminal was to be ready for use
Of the
before
82,884.000 outstanding. $2.255.000 in 1898 were endorsed with the guar- of the connection with the city-built the close of 1919, with the exception
Culver line. The latter
anty of the Brooklyn Heights RR. Co. as to prin. and interest, and in Jan
operation as far as Kings Highway on March 16 1919, and to was put in
Avenue X
1899 provision was made for guaranteeing the remainder upon the payment on May 10 1919. The connection
with the Coney Island
of $10 per bond. Both B. Q. C. & S loans are subject to call from 1916.
completed in 1920. This line will finally operate as a branchTerminal was
of the Fourth
The $650,000 Sea Beach Ry. 4% bonds due Sept. 1 1916 were taken up Avenue Subway. V.
107, p. 2477.
at maturity by the B. R. T. (retired in March 1919). V. 103. p. 843
Favoraole Decision.
-In April 1918 the Appellate Division of the Supreme
The B. B. & W. E. 1st 58, due April 1 1917, were also taken up by the Court
upheld the decision of Supreme Court Justice Erlanger in April 1916.
B. R. T. at maturity.
The Nassau El. 1st cons. M. bonds are guar. (by end, on each bond) holding that under the contract with the city, dated March 19 1913, the
by the Brooklyn Heights RR. Besides covering the mileage directly owned company was relieved from the obligation of paying tolls for the operation
they are a lien by a supplemental agreement upon the stock of the Coney of cars over the Williamsburgh Bridge. V. 106. p. 1576.
Division of Earnings with City -As the New York Consolidated holds.
Island & Gravesend Ry. and will become a direct lien on this line should .t
become merged in the Nassau Electric. Of the total of $15.000.000 bonds under assignment and lease, all the rights acquired by the New York Municipal Ry. Corp in the latter's contracts with the city, all the earnings
authorized, the unissued remainder ($3.242,000) is for prior liens. See
accrue to it. The division of earnings is on the following basis:
listing application in V. 72 p. 342
In Dec. 1918 it was announced that the Brooklyn Union Elev. 4-5%
1 To the company. 33.500,000, as representing the net earnings of the
bonds and the Kings County Elev. 4% bonds would be guaranteed upon previously existing railroads which went to form part of the new rapid
presentation on certain dates during the year of 1919 by the Brooklyn transit system. Out of this reservation the company pays interest charges
on capital investments prior to Mar. 19 1913 in the then existing railroads.
Heights RR. Co. V. 107, p. 2475.
Coney Island & Brooklyn Bands.
2. To the company,6% on its new investment in construction and equip-Of the $10,000,000 bonds auth. by
mtge., $4,000,000 are reserved for prior liens and $3,768,000 are reserved ment prior to the beginning of permanent operation and thereafter interest
and 1% sinking fund.
for ext. and imps. No sinking fund, and bonds cannot be called.
.
3. To the city,interestand 1% sinking fund on its investment in cost of
.
MILEAGE.
-The system includes:
First
Second Sidings.
construction.
Total
NameTrack.
Track.
&c.
Miles.
4. Any surplus remaining, after making provision for a moderate contin•
Brooklyn Heights RR
3.156
1.851
0.198
5.205 gent reserve fund, is to be divided equally between
!Brooklyn City RR
106.387 101.655
24.332 231.918 city. The company's preferential payments are to the company and Um
be cumulative.
Bklyn. Queens Co. & Suburban RR
31.246
30.521
3.189
64.956
Nassau Electric RR
69.671
68.083
8.655 146.109 Results of Temporary _Operations of Lines Under Contract with the City
Coney Island & Gravesend By.
4.156
3.307
.234
7 697
Year end.
Year end. Aug. 4'13 to
South Brooklyn Railway
.459
.459
3.301
4.219
June 30'19. June 30'18. June 30'19.
Prospect Park & Coney Island RR..
9.281
8.399
8.327
26.007 Total revenues
$15,710.096 513,057,406 366.433,851
Coney Island & Bklyn. RR
22,178
22.490
6.948
52.816 Total deductions
311.378,416 38,296.955 $42,817,768
New York Consolidated RR. and
Company's preferentials
5.886.201
5,166.201 26,613,632
New York Municipal By. Corp _
53.204
53.173
49.655 156.032
Trackage on N. Y.& Brooklyn Bridge
Total
$17.264,617 $13,463,157 869,431.400
Rapid transit linos
1.762
1.762
.231
3.755 Deficit in company's preferentials
Surface lines
$405,751 $2,997,549
1.802
1.707
3.509 Interest paid by city on its cost of con- 51,554.521
Trackage on Williamsburgh Bridge
struction of property placed in opSurface lines
1.741
1.741
.218
3.700
eration plus sinking fund of 1%
5,196,051
1,428,610 10,181,008
N. Y. Mun.Ry.-Lessee City of N.Y. 26.854
26.693
23.002
76.549
Total deficit
56.750.572 $1,834,361 $13,179,454
xTotal miles operated
332.897 321.841 128.290 783.028
Deficits in city's charges during temporary operations to be added to
x Brooklyn City RR. no longer part of system, lease having been abro- the cost of construction of city-owned lines. Compare V. 106, p. 1348,1795:
gated on Oct. 18 1919.
V. 107. p. 703.
•
STOCK AND BONDS- Date.
EQUIPMENT Dec. 31 1919.-5.280 cars. Closed cars. 1.279; open cars,
Interest. Outstanding. Maturity.
1,171; convertible. 667;semi-convertible, 1,059;subway,580; miscellaneous, Corn stock. $13.900.000 ($100) ---813.900.000 Dec 18 15
Q-M
Pref stock, $5.000,000 ($100)_
524. No later figures furnished.
5.000.000 Dec'18 IX
Q-M
Bklyn Un El 1st M $15,967,- 1899
(
5 g F-A
Feb
000. gold, 4% till 1905,i Interest at Central 15,967.000 New 119
Trust Co.,
York.
INCOME ACCT.BKLYN. RAPID TRANSIT AND CONSTITUENT COS
since 5% (81.000)
01 Trustee.
FOR CAL. YEAR 1919 AND YEARS ENDING JUNE 30.
KingsCounty El 1st M.gold, 1899
4 g P-A
7,000.000 Aug 1 1949
37.000,000 (81.000) csntf int. at Central Trust Co.. N. Y., Trustee.
Cal. Year
Years end. June 30
Bonds.
-Bonds of the Brooklyn Union and Flings County Elevated RR.
1919.
1918-19.
1917-18.
1016-17.
Passengers carried
771.044,274 760.519,397 companies are guar. p. &A. by Bkiyn. Heights RR.,guaranty to be stamped
upon bonds upon presentation. In Feb. 1902 began stamping bonds
Revenue
with
Transportation
334,140.417 $32.550,540 $29,879,309 $28,992,111 guaranty. Certain days each month are designated for stamping. See
Miscellaneous
925.288
722.790
627.188
511.908 V. 106. p. 188. Both issues are listed on N Y Stock Exchange.
DIVIDEN DS.
-The first div.. of 27 .on the old
Total
°
835.065,704 883.273.330 $30.506.497 $29.504,019 RR.
pref. stock was paid June 29 1901; in 1902 and Bkiyn. Union Elevated
In 1905. 4%; In 1906. 4X %;in 1907 to 1911. incl.,1903.3%;in 1904.3X %
Expenses
5% per annum: in 1912
Maintenance of way
%; Dec.. 8%. On corn.. 1st div.. 5%. paid June
$2.946,454 $2.419.105 $2.480.439 $2.505,288 June,
Maint. of epuipment
%. In 1911. 5%. In 1912. June, 2X%; Dec., 6%. 10 1910; Dec..
3,870.169
2,921.824
2.632,885
2.496.349
Operation of power plant 4,014.223
3.815,513
2,667.809
In Nov. 1912 became part of the N. Y. Consol.
2.041.617
Operation of cars
12.900.315 10,946.396
8.044.547
7.583.622 classes of stock of the latter have been as follows: RR. Divs. on both
In 1913. June,
Damages & legal expense 1,096,718
1,563,971
1,194,715
1,040.685 Sept., 1 Y %; Dec., 1X%. In 1914. 8 X %. In 1915 to and incl. July 5%;
4
1918
General expenses
1,289.158
924.928
811.023
768,091 at the rate of 10% per annum. In Sept. and Dec. 1918
1% quer. was
Freight & mail expenses..
396,445
311,798
280,100
304.666 paid on both classes of stock. None since.
Amer. Ry. Tref. Co.exp.
351
221
288
199
ROAD.
-Embraces 232.581 miles of
2,200.633
2,446.900
Taxes
2.443.652
2.351.104 miles are leased. The New York & rapid transit track, of which 76.549
Brooklyn Bridge has 3.755
Total
328.714.467 825.3.50.656 520,555.457 819.092.521 track in addition. When all the lines embraced In contract with miles of
the city
$6,351,238 $7.922.674 39.951.040 $10.411,498 have been completed, will consist of approximately 285 miles of track, inNet earnings
Other income
751.397
509.724
40's .729
427.815 cluding trackage rights over the Astoria and Corona (Queens County) line*
87.102.635 88.432.398 810.358.769 810.839.313 enjoyed mutually with the interborough Rapid Transit On.
Total income
OFFICERS.-Pres.. John El. Hallock; V.
8.011.474
Fixed charges (net)
8.142,998
-P. & Treas.,0. D. Meneely;
6.246.715
5.644.074
Sec., J. H. Bennington; Comp., Howard Abel.
-V. 103, p. 884; V. 112, p.
Surplus
$420,924 84.112.054 35.195.239 744.
del81,040.363
Dividends
(3)2.233.659(6)4.467.318
(a) New York Municipal Railway Corporation,
def$1.040.363
Balance
8420.924 11.878.395
3727.921
Receiver Appointed.
-See B. R. T. above.
Receiver's Certificates.-See B. R. T. above.
-For years end. June 30 (entire system):
LATEST EARNINGS.
Financial Status -See under "B. It. T. in V. 112. p. 647. 740, 1613.
Oper. Rev. Net.art.Tax. Oth.Income. Deduens.
Balance.
ORGANIZATION.-Incorp. in N. Y. on Sept. 27 1912 to operate
1921-22____334,544.093 $10,296,972 $1.656.070 88.86.5,622 sur$3,087.419
the,
1920-21____ 30,972,085
2.657,174 1,660.590 9.198.699 def4,880.934 enlarged transit system (elevated roads and subways) covered by the agreement between the company and the city, and to construct and own such
RESULTS OF OPERATION FOR TIIE 12 110S. ENDED JUNE 30 1921. parts of the system as are scheduled for private rather than public ownership. V. 95. p. 818. The lines to be constructed
city
(Includes all cos. formerly comprised in Brooklyn Rapid Transit System.) the company for a period of 49 years from Jan. 1by the and are leased to
1917
are operated
by the company in connection with the previously existing railroads of the
Operating
Def.after Non-Oper.
Net
New York Consolidated RR. Co. (as enlarged and extended) as one system.
Revenues.
Taxes.
Items.
Charges.
Income.
and for a single fare. The city-constructed lines may be recaptured
by the
Bklyn. Ilgts. RR.
71.062
d2,486
108.142
826.803 d721.147 city after 10 years upon payment to the company of a fixed percentage of
Bkin. City RR.b.10,457,171 Cr.240,989
91,843
683,690 d350.858 the latter's investment in construction and equipment (115% at the end of
10 years and a gradually diminishing amount in succeeding years), so that
W'msburg Bdg 256,226 Cr.75.206
75,206
Bkln.Q.Co.&Sub. 1,855.656 Cr.10,406
62,721
560,095 d486,967 the company will receive an amount which, with the accumulations of its
Coney I. & Gr. B. 138,444 Cr.14,540
18.891
162.905 d129.473 sinking fund, will at least make good its investment.
In March 1913 the P. S. Commission approved a °retract with the
Nassau Electric_ 4,679.240 d157.120
207.583 1,166.890 d1,116,427
BrookConey Isl. & Bkln 2,462,958 Cr.130,663
29,761
338,747 d178,323 lyn Heights RR. for the use of the Lutheran Cemetery line. This line was
South Brooklyn_
944,215 Cr.283,108
46.557
346,417
d16,752 elevated and was placed in operation Feb. 22 1915. V. 100, D. 732.
N.Y.Consol.RR_20.995,227Cr1,170,711
LEASE TO N. Y. CONSOL. RR.
451,708 6,290.156 d4,667,737
-On Mar. 28 1913 the P. S. Comm.
sanctioned the lease and assignment to the N. Y. Congo!. RR. of all
-The "deficit after taxes" is the result after deducting operating under the contract with the city respecting new rapid transit lines. rights
Note.
(See
taxes from operating revenue. The "charges" ("deductions V 96, p. 360, 947). The company also transferred to the N. Y.
expenses and
from income") include the fixed charges for interest, &c., whether or not RR. the certificates for extensions and additional tracks, as well asConsol.
certain
paid both for the several companies and their receiver
estate In Brooklyn and the above-mentioned contract with the Brooklyn
real
b Lease of Bklyn. City RR. terminated and separate operation began Heights RR. regarding the Lutheran Cemetery line. The lease calls for
6% dividends on the N. Y. Municipal Ry. Corp. stock.
Oct. 19 1919. d Deficit.
The Municipal Ry. Corp. agrees to furnish all the money necessary to
Report of Transit Commission.-Sco V. 114, p. 301. Compare V. 113.
carry out the terms of the(
dual system contracts and has the option of doing
1
p. 2816.
all the construction work and acquiring all the equipment, or of requiring
OFFICERS.
-Gen. Mgr. under Receiver, W. S. Menden; Chairman of the Consolidated Co. to do so on reasonable notice.
In August 1913 th P. S. Commission granted authority to issue $400.000
Board, Nicholas F. Brady; V.
-P. & Treas., 0. D. Meneely; Sec., J. H.
additional stock of which $100,000 was issued in April 1915. Up to June 30
Bennington; Comp.. Howard Abel. Offices.. 85 Clinton St.. Brooklyn
-V. 114, p 408, 518. 737, 1061, 1285. 1532, 1764, 2358, 2822; V. 115, 1919 only $200.000 stock out all owned by New York Consolidated RR.
In March 1916 the co. applied to P. S. Comm. for auth. to issue
p. 72, 182, 435, 542, 868, 987, 1428, 1531, 1729, 1836.
additional stock to reimburse the 13. R. T. for commissions and$697.500
fees for
COMPANIES CONTROLLED BY BROOKLYN RAPID TRANSIT CO. counsel paid out In connection with the dual subway system financing.
Still pending.
(1) New York Consolidated RR.
Wins Suit -Justice Lazansky in the Supreme Court, Brooklyn, in May
Receirer Appointed.
---See Brooklyn Rapid Transit above.
1921 upheld the verdict of $495,671 obtained by the co. against the InterReceiver's Certificates.-See B. R. T. above.
national Construction Co. V. 112, p. 2084.
Financial Status.
-See under"B. R. T." in
647, 740. 1613.
Default on Bond Int.-See B. R. T.above.




Y

OCT., 1922.]

ELECTRIC RAILWAYS

19

Balance,
Other Taxes.Rents. DiviNet
Gross
Interest. Outstanding. Alaturitt 'ear end.
Date.
Sur. or Def.
STOCK AND BONDSlune 30- Earnings Earnings. Income. Amort..&c. dends.
All the $200,000 out owned by N. Y. Consol
sur.$2,334
Stock, $2,000,000 ($100)
1921-22___$285,059 $62,474 $4,192 $41,832 (5%)$22,500 sur.$3.679
$2,265.000 Jan 1 196i
5 g J-J
0)322.5(10
First mortgage, $100.000.0001 1912
l920-21$292.705 $64,727 $3,914 $42,462 (57 22.500 sur 1.305
Trust Co.. N. Y.. Trustee
(5)
($1.000 & $500). g_cs&r_tt'Int. at Central
33.575
3.235
54.145
1919-20_ -- 241.499
60,000,001
1921-22,
Total surplus June 30 1922, $19,704. Passengers carried during
-Guar., p. & 1., by B. R. T. and N. Y. Consol. RR.$ $2.265.000
Bonds.
notes.
11,560,501 were carried, against 9,105,790 in
were issued and pledged as security for B. R.T. secured
Right of conversion 11.251,873. In 1920-21,
of said notes were converted Into bonds of this issue. began July 1 1911. 1919-20.
D. Mackay
terminated Jan. 1 1916. Semi-annual sinking fundsubject to call as a
OFFICERS.-Pres., Fred'ic W. Rowe; V.-Pres , Frederick
Bonds
(minimum. .3175%; maximum, 16 %). fund. at are 4. on 90 days' notice
and Chas. J. Edwards; Sec., Walter Hammitt; Treas., Ed. T. Horwill.107
whole, but not in part, except for sinking
523; V. 106, p. 1797; V. 114, p. 2823.
Exchange in June 1916. V.101, V. 97, p. 1733; V. 98, p.
See V. 101, p.2072. Listed en N. Y. Stock 112. p. 744, 1617, 2084.
D. 2072; V. 102. p. 2255; V. 108. p. 2123; V.
-A trolley road.
VAN BRUNT STREET & ERIE BASIN RR.
-A trolley road.
Electric Railroad.
(2) Nassau
-Chartered Feb. 15 1861. In August 1919 and
ORGANIZATION, &c.
-See B. R. T. above.
Receivership.
auth.
-See V. 109. p. 1179.
again in July 1920, the P. S Comm. denied the Co.'s application for
Power Bills Made 1st Lien Against Property.
Stock•
P 390.
to increase fares from 3 to 4 cents. V. 109, p 677: V. 111.mtge authorized;
-See under "B. R. T." in V. 112, p. 647. 740. 1613
Financial Status.
114, p. 1287.
Bonds, $75,000 1st
-V.
3200.000, all Lssued; par, $10.
Objectims to Valuation of Transit Commission.
changed to electricity in 1898. 6 pass,
-Chartered Mar. 13 1893 under the laws of New 431,000 out. Track, 2.32 miles, June 30 1921. gross, $90.695; net after
ORGANIZATION.
Avenue cars. Earnings for year ending
York. Opened in July 1895 and in April 1896 leased the Atlantic
controls all taxes, $9,919; other income, $1,315; int., &c., $2,060; surplus, $9,205.
RR.. tzc. As stated above, the Rapid Transit Co. owns or
-P. D. Vi. Sullivan; Sec. and
OFFICERS.-Pres., John F. Murphy; V.
of the $8.500.000 common stock of the Nassau Electric and $6,394.775
V.
Treas.. Wyllys Terry. Office, 264 Van Brunt St.. Brooklyn. N.
out of the E6.500.000 preferred stock.
leased for 999 years from April 1 1900 to Brooklyn Heights V. 108. P. 2331; V. 103. p. 677; V. 111' p. 390.
Was formerly
the issuance of
Railroad, but, coincidently with a decision compelling
was ter
transfers from one leased line to another (V. 79. p. 102), the lease effective
minated on June 30 1904. For order requiring universal transfers.
above.
BUFFALO, N. Y.
June 1 1914, see "Brooklyn Rapid Transit Co." further RR.,see remarks
-A trolley road.
For lease of Coney Island terminal to the N. Y. Consol.
BUFFALO & LAKE ERIE TRACTION CO.
R. T.Co.in V. 101. p.447
under that company above and under Brooklyn
-On application of the New York Trust Co., mortgage
Receivership.
-See B. R. T. above.
Default.
Court at Buffalo on July 7 1915.
Brown
Interest. Outstanding. Maturity. trustee, Justice Bullock in the Supreme
Date.
STOCK AND BONDSreceiver. V. 101. p. 129.
appointed Geo.
$8,500,000
Common stock. $8.500,000
6.500,000
-On July 1 1920 Justice Wheeler in S,upreme Court at Build°
see text
Sale, (c.
M-N
Preferred 4% cum, $6.500,000
208,000
handed down a decision allowing the company to discontinue its lines within
6%
"Birney Safety" equip trust l ____
has
the State of New York, effective Sept. 15 1920. The Court, however, are
!Fidelity Trust Co., Philadelphia, trustee.
ctfs Trust No.4, Series "A"
authorized the receiver to continue operation until further instructions the
129,000
Series "B" certificates _
that it be allowed to dismantle
issued. The request of the company
Bonds.-For details see Rapid Transit statement above
receiver to advertise for bids
directed
Equipment Trust Certifs.-Series "A" were issued by the Fidelity Trust road was denied. The Court part. In the
Oct. 1920 all bids received were
Co., trustee, and are secured by assignment of a lease covering 73 Birney for the property in full or in The line between Fredonia and Dunkirk is
$372,926
p. 1660.
one-man safety cars, for which purchase money notes aggregatingB. R. T. rejected. V. 111,order. The Court believes this section can be operated
excepted from the
of Lindley M. Garrison, receiver of the Nassau Electric RR.,
see also V. III, p. 791; V. 112, p. 743;'V. 115.
under lease by the
System have been deposited. These cars were acquired of the N. Y. P. S. successfully. V. 111, p. 293;
p. 1836. No further developments.
receiver, on order of the Court, and with the approval
50% of the selling prices of these
-The company having defaulted on the int. due Nov. 1 1912 on
Default.
Commission. This issue represents about
defaulted).
cars, the balance having been paid in cash (20%),and by an issue of $129,000 the first and ref. M. 5% bonds (subsequent coupons also their bonds
1•
which are deferred in lien. V. 110, 1: 465.
protective committee requested the bondholders to deposit
a
Series "B" certificates
with Equitable Trust Co., 37 Wall St.. N. Y., as depositary, or the Girard
-Embraces 146.409 miles of single track. owned the double
ROAD.
Trust Co. of Phila. as sub-depositary.
Atlantic Avenue RR. (now part of Nassau Electric)
to Flatbush
The aforesaid committee also drew up a plan of reorganization (see
track steam road (since converted to electricity) from Jamaica
miles (19 miles of track), which is leased V. 97. v. 297 but in Dec. 1913 the plan was abandoned.
in Brooklyn, 9
Avenue Station
Sub Co.-Receirership.-Int due May 1 1920 on the Hamburg Ry. 1st 5s.
Long Island RR. Co., affording that
for 99 years from June 1 1877 to the
formerly a'percentage having been defaulted, John F. Burke was appointed receiver for that co.
company entrance into the city of Brooklyn-rental, V. 61.
P. 828. Lit' in Sept 1920. Compare V. III, p. 1082.
1895 to $60,000 yearly.
of receipts, was changed In
use of Atlantic
-incorporated in New York and Pennsylvania in
ORGANIZATION.
gation has arisen with Long Island HR. regarding the Appeals decided
the Dunkirk & FreCourt of
Avenue. See V. 74. p. 1139. In Oct. 1910 N.Y city has taken no action Dec. 1906 and Is a consolidation of the Hamburg Ry., Lake Erie Electric
tear up rails, but
Buffalo Dunkirk & Western RR., the
donia RR., the
that the city had the right to
Leases the Erie Electric
Traction Co. and the Erie Rapid Transit Co.
looking to the exercise of the right.
By,
Motor Co. for 999 years, which company leases the Erie City Passenger
-First div. on pref. under lease was paid Dec. 311900,4%
DIVIDEND.
years from Oct. 1 1888 and the Erie Reed Park & Lakeside Street
2%; in 1909. Nov 2%
1901 to 1907 incl., 4% per annum; in 1908. Nov., reg. and 4% on account for 999 999 years from March 1 1901. In 1909 leased the Buffalo &
Ry. for
1912, May,2%; Nov.,2%
in 1910 and 1911,4%;in
4%;none since
Lack. Trac. Co. for 999 years (V. 88, p. 1001), but this lease was canceled
of arrears. In 1913. May,2%; Nov..4%;1914 to 1917 incl..
In 1919. However, a new operating agreement with this co. has been made
-V. 110, p. 465; V. 112, p. 744; V. 114, p. 306, 1286, 1534.
providing for operation of interurban and freight cars into Buffalo.
(3) Coney Island & Brooklyn RR.
Also owns an the outstanding stock of this co., and guarantees the bonds.
Street Ry., which
-See B. R. T. above.
Receivership.
bonds Also own, all stock ($750,000, all out) of the Dunkirk
Foreclosure Proceedings.-Int. due July 1 1919 on the company's Bank- company has a franchise in Dunkirk and has built about 5 miles of track.
having been defaulted, Judge Mayer, in March 1920, authorized the
to N. Y. P. S. Comm. for auth. to sell to the
On July 17 1919 applied
ers Trust Co., N. Y., to bring a foreclosure suit against the company. Niagara Lockport & Ontario Power Co. 480 shares of the Niagara & Erie
V. 110, p. 969.
Powet Co s stock and to transfer to the Niagara & Erie Power Co. a right of
-See V. 114, p. 1286.
Objections to Valuation of Transit Commission.
way for an electric transmission line from Athol Springs to Dunkirk, a disFinancial Status -Son under "B. R. T." in V. 112, p. 647, 740, 1613.
Transfer was completed April 1
V. 109, p 887
tance of 34 miles, &c
In Dec. 1913 the Coney Island & Gravesend Ry.(subsidiary of the Bkiyn. 1920. See also V. 112, p. 2419, under caption "Niagara & Erie Power Co."
Rap. Transit) received permission from the P. S. Comm. to acquire 26.370
The receiver has been authorized by the County Court at Erie. Pa., and
Coney Island & Gravesend Ry. owns
shares of the stock of this company.
Supreme Court at Buffalo, N. Y., to issue $1,544,200 receiver's certificates
$2.637.000 and the B. R. T. $49,500 of the co.'s stock. Bklyn. Rap. Tran. to provide funds for improvements and extensions, of which $920.000
Co. owns $625,000 consol. mtge. bonds of 1904.
were issued and outstanding Aug. 1 1921.
-Chartered Dec. 10 1860. Cars commenced run
-In July 1918 the Penn. P. S. Comm. dismissed the comORGANIZATION.
Fare Derision.
fare increase holding that an electric railway may increase
cling over the Brooklyn Bridge Feb. 15 1898. See V. 66. p. 383.
In plaints against athe 5
-cent limit specified in a franchise ordinance when it
Brooklyn City & Newtown was leased in Nov. 1897 for 999 years.
Its fare beyond
all the stock of that company, but legal proceedings corn
1900 acquired
Is nectssaey to do so to obtain enough revenue for operation and mainteDieting merger with Coney Island & Brooklyn were not effected until 1910. nance purposes. V. 107. p. 500.
-See B. R. T. above.
Default.
Rates.-Effective Dec. 26 1920, Interurban fares were increased to 3.6
In
Interest. Outstanding. Last div.&C. cents per mile. Effective Sept. 11920, freight rates were raised 40% •
STOCK AND BONDS- Date.
82.983.900 June '18. 116 Oct. 1920 was auth. to increase cash fares to 8 cents. V. 111, p. 1660.
6 Q-M
_$100)Stock,$3,500,000(par
July 1 1948
1920 the Penna. P. S. Comm.fixed the valuation
x1,987,000
-On Oct. 12
Valuation.
4g
First consolidated mortgagej 1898
Mercantile Trust Co., New York. Trustee. of the "Erie Division" at $4,100.000 for rate-making purposes. V. 111. P.
mitt
82.000,000, gold
y2.125,000 Jan 1 1955 1660. For further details see V. 112, p. 468. Valuation of properties
4 g J-J
Consul mortgage,$10,000,000 1904
outside of Erie placed at $775,000. See V. 114, p. 1532.
Mercantile Trust Co., New York, Trustee
c*tf
gold ($1,000)
:1,993,000 July 1 1939
Maturity.
5 J-J
Interest. Outstanding.
Brooklyn City & Newtownf 1889
STOCK AND BONDS- Date.
Y., Trustee.
first mart $2,000,000-ntf Mercantile Trust Co.. N.
Common, $5,000,000
257,950
$25 501'
,* 0 0 01
5%
Real estate mortgages
$2,500,000. cum}
Pref. 5%.
from July 1909
7,066.000 Nov 1 1936
5 g M-N
x Not including $13.000 held in sinking fund.
1st and ref mtge. $12,000,-( 1906
y Not including $107,000 held in treasury.
000, gold ($1,000) ____c*tf'Interest at New York Trust Co., Trustee.
1,250.000 Apr 1 1941
5 g A-0
z Not including $7,000 held in sinking fund.
Erie El M 1st ref sink fund,) 1901
Trustee.
Bond Interest.-Tnt. on all above bonds payable at Cent. Tr. Co., N. Y
$1,250,000, gold (81.000). Interest at New York Trust Co..
consol. mtge. bonds of 1904 auth. by mtge..
New York City.
-Of the $10.000,000
Bonds.
c* tf
Cannot be called
745.000 Nov 1 1926
4 g M-N
$4,000,000 are reserved for prior liens and $3,768,000 are reserved for exts. Hamburg By 1st M. 3750.- 1906
tf Int. at Equitable Trust Co., N. Y.. Trustee.
amOmPts.;$107.000 in treasury. No sink, fund and bonds cannot be called.
000, gold ($1,000)
39,000 July 1 1952
5 g J-J
Dun & Fred ref M.3100,000, 1902
-First track. 23.178 miles: 2d track. 22.490 miles; misc. track
ROAD.
gold ($.100, $500 & $1,000) Fidelity Trust Co.. Buffalo, Trustee.
52.610 miles. 460 passenger and 26 service cars
6.918 miles: total oper..
920,000
-In 1895, 6%;In 1896. 5%;In 1897, 67; In 1898. 8)4%; Receiver's certificates
DIVIDENDS.
take
-Of the $12,000,000 new bonds, $2,034,000 are reserved to any
Bonds.
V. 67, p. 955. In 1899 and 1900, 10%; in 1901, 134%:in 1902. 1903 and
to call on
1904, 16%; in 1905, 10%; In 1906. 8%; la 1907, Feb., 2%. None there- up a like amt. of underlying liens. These new bonds are subj.
bonds are
interest date at 110 and interest. The Erie Elec. Motor ref
after to Jan. 1914, when 6% was paid. In 1915, Jan., 6%; June, 1)4%
and the Erie
Dec., 3%. In 1916 and 1917. 6%. In 1918. Mar., 14%; June, 14%. secured by deposit of entire stocks of the Erie City Pass. By. bds. began
None since.
Reed Park & Lakeside St. By. A sink. fd. of 1% ann. on these
By.
Apr. 1 1906 and was increased to 1)4% In 1916. The Hamburg
-P. & Treas., 0. D. Meneely; Sec., J. H. Bennington;
-V.
OFFICERS.
to call. The Dunkirk & Fredonia refunding
Cotnp., Howard Abel.
-V. 99, p. 1214: V. 106, p. 924: V. 109. p. 72, 278, bonds are no longer subject to call on any interest date at 103.
mortgage bonds are subject
p. 1286, 1650.
887; V. 110, p. 969: V. 112. p. 743; V. 113, p. 2818; V. 114,
,
-For year end. June 30 1921 we•ss e(rnings, $2,260,886
EARNINGS.
(in(4) Prospect Park & Coney Island RR.
net, after taxes, $125.553: deficit, after deducting all interest charges
-In Oct. 1915 the P. S. Comm. auth. the South cluding int. on Buff. & L. E. Trac. 5% bonds). &c., $398.519.
TION.
ORGANIZA
per share the
Brooklyn Ry. (controlled by B. R. T.) to purchase at $200
Y., to Erie. Pa.; mileage in N. Y., 97.14 m.; in
-Buffalo, N.
ROAD.
1.768)4 shares owned by the L. I. Rit. and the minority holdings from time
172.65 m., of which 105.13 m owned and
to time as offered. V.101. p.1464 Road had been operated under lease at an Penna., 75.51 m.; total mileage,
annual rental of $45.000. All the outstanding bonds were paid off during 67.52 m. leased.
-Receiver, Geo. Bullock; Pres. P. C. Schutrum; Gen. Mgr.;
OFFICERS.
1920. V. 113. p. 531.
77. 267:
Outstanding. Maturity. A. R. Myers; Treas. & Asst. Sec., A. F. Tideswell.-V. 108. p.
Interest.
STOCK AND BONDS- Date.
V. 109, p. 887; V. 110, To. 1972, 2291; V. 111, p. 293, 791, 1082, 1277, 1660;
$250.000
Stock, $100
V. 112, p. 408, 743, 2747: V. 114, p. 1532; V. 115, p. 1209, 1836.
-Embraces 9.281 miles of first track. 8.399 m. second track,
ROAD.
(1) Buffalo & Lackawanna Traction Co.
8.327 m. sidings. &c.; total, 26.007 miles.
-V. 113, p. 531.
-Now Included in those of B. R. T.
EARNINGS.
-In Dec. 1918, upon application of the City Trust Co. of
Receivership.
Buffalo, Harry Evers was appointed receiver for the co.; this action being
the result of a petition of the Buffalo & Lake Eric Traction Co. for auth. to
MANHATTAN BRIDGE THREE-CENT LINE.
abandon its lease of the co.'s line. V. 107, p. 2175.
ORGANIZATION.-Incorp. In New York. Began operat'g in Sept. '12
-On Dec. 1 1918 the Buffalo & Lake Erie Traction Co. defaulted
Default.
to Manhattan a.p
Franchise to operate from Flatbush Ave. (Brooklyn) 912; V.95.p. 420
In the payment of int. on the co.'s $1.160.000 5% bonds. V. 107, p. 2475.
proved by the P. S. Comm. on Aug. 14 1912.-V. 94.p.
As of Oct. 1 1921 this int. was still in default (subsequent coupons also in
See also V. 114, p. 2823.
Division of the Suprem. default).
For two decisions handed down by the Appellate
See also V. 106, p. 1797;
-Incorporated in New York in June 1906 to furnish
ORGANIZATION.
Court favorable to the co., see V. 97, p. 1733.
In April
an entrance into Buffalo for Buffalo & Lake Erie Trac. Co. this lease1909
V. 114, p. 2823.
was
but
outstanding, $450.000.
was leased to Buffalo & Lake Erie Trac., for 999 ysars, a new agreemeni,
-Authorized. $1,000,000;
STOCK.
company now operating under
canceled in 1919, the
into Butfalo•
-Initial quer. dividend of 1)4% pald Mar. 1914(V.98. p.523
Dividends.
providing for the operation of interurban and freight cars and owned by
June 1918, when 1
same rate quer. to and incl. March 1916. None to
Stock, $100,000 authorized, of which $55,000 is outstanding
quer. since to and inci
was paid. Same rate has baen paid regularly
Buff. & Lake Erie Trac. Co. Has universal transfers throughout the city
w).
Sept., 1922.
of Buffalo through contract with Inter. Ry. Co. (but see "Fares"belo
of track from Canal St. and Bowery,
ROAD.-Onerates 4.02 miles
-In July 1921 the company was auth. by the P. S. Comm. to
Fares.
to FulN. Y., over Manhattan Bridge. through Flatbush Ave. extension
fare without transfers. V. 113, p. 530.
charge a 10-cent
ton St., Bklyu. 16 cars.




20

ELECTRIC RAILWAYS

[Vol,. 115.

"BONDSDate.
Interest. Outstanding. Maturity.
Refunding Plan.
-Owing to existing financial conditions the co. was
let mtge. $1,500,000, gold' 1908
5 g J-D
$1.160.000 Dec 1 1928 unable to take up at maturity the $800,000 Lockport
& Olcott By. let
($1,000), guaranteed_ _crflInterest at New York Trust Co., Trustee*
mtge. 55 due July 1 1920. The company offered, therefore, to exchange
Bonds are subject to call at 110 and int. They have no sink. fund. Re- these bonds, par for par, for an issue of $800,000 5
-year 7% coll. trust bonds
maining bonds are reserved for betterments and extensions at 85%
of the International By.. to be secured by 31.200.000
Bonds guar. prin. and int. by Buffalo & Lake Erie Trac. Co. V.90.of cost. ref. & impt. 5s. The 5-year 7s are convertible into of that company's
p. 235
International By.
ROAD.
-3.90 miles owned and .52 miles leased and used jointly with ref. & impt. 5s at the rate of $3,000 ref. & impt. bonds for each $2,000 of
7% coll, trust bonds. For further details see V. 110, P. 1972. Holders of
Int. Rye. Co.; total. 4.42 miles. Began operating Dec. 22 1909.
$605,000 Lockport & 0Icott bonds accepted this exchange, the remaining
OFFICERS.-Pres.. M. D. Evans; V.
-P., P. C. Schutrum: Sec. & Treas., 8195.000 being paid in cash.
F. Goo. Robinson; Gen. Mgr.. Nelson H. Brown.
-V. 107. p. 2475; V.
Readjustment Plan.
-The readjustment plan as outlined in V. 111, p.
113. p. 530, 1673.
2228, 2324; V. 112, p. 161, has been carried out. As a result depositors
under the plan received for each $1,000 Traction Co. coll. trust bond upon
DEPEW & LANCASTER RAILWAY CORPORATION.
payment of $100 (a) $400 Railway Co.
ORGANIZATION.
-Organized in 1921 to take over the line of the way stock and $100 Railway 5% bondstock distributed free; (b) $500 Railfor $100 cash. The stock is repreBuffalo & Depew By., which was bid in by John J. Lenahan & Son, Buffalo. sented by voting
for $6.25C, plus taxes due to various towns and villages, aggregating about of 5 years, are: trust certificates. The voting trustees selected for a term
Walter P. Cooke. Thomas Penny and Nelson Robinson.
$40,000. It was reported that the villages and towns along the line had $1,944,000 ref. & impt. 5%
bonds of the Ry. Co. and $640,500 underlying
agreed to waive the back taxes in return for an agreement from
new 6% bonds, secured by
company to operate the railway for a period of at least three years. the 112, Co., have been turned mortgages upon portions of the property of the By.
V.
over to the voting trustees to be held in trust, but
p. 2642.
with full power in the voting trustees to sell or otherwise use the said bonds
The new company is said to be capitalized at $200,000. For further for the benefit of the
details see V. 112. p. 2642. For history of predecessor company see this for stock of the By. Ry. Co. or the holders of the voting trust certificates
Co. For further details see
section forApril 30 1921.
V. 112, p. 161. Compare V. ill. p. 1752. 895. V. 111, p. 2228, 2324:
OFFICERS.
For steps leading up to adoption of readjustment plan, see "Electric
-Gen. Mgr., Nelson II. Brown.
-V. 113, p. 2642; V. 113,
Railway" Supplement of Oct. 30 1920.
P. 1674.
STOCK AND BONDS- Date.
Interest, Outstanding. Maturity.
ERIE COUNTY TRACTION CORPORATION.
-A troiley road.
Stocks $17,500,000 (v. t. c.)_ $16,707,500
ORGANIZATION.-Incorp. in N. Y. on Nov. 24 1919 to take over
15.640.200 Nov 1 1962
the Internet Ry ref & Imp mtge( 1912 5 g M-N
property of the Buffalo Southern By. (for history, see -Electric Railway"
$60.000.000. gold_ ___c.&rfBankers Trust Co.. New York. Trustee.
Supplement of Nov. 15 1919,. The now company assumes! control Jan.
7%
496.000
1925
1 Internet By 5-yr coil tr lxis__- 1920
1920. Tne holders of the *600.000 Buffaio Southern By. 1st M. 5s received Buffalo Ry 1st con mtgef 1891
5 g F-A
4.804.000 Feb
for each $1,000 bond $250 par vaitie of income bonds and $750 stock of the
($1.000)$5,000.000,g,e&r4Int. at Co.'s office, Buff.. S.W. Clark1 1931
& Co.,
new company. Ft anchiset perpetual.
Phila.. or Bankers Tr. Co., N. Y., Trustee.
aTonawanda St RR 1st M., 1892 6 J-J
STOCK AN
60.000 Jan 1 ,.926
,.
tstanding. Ma:urity.
(Hosed)
Interest at company's office, Buffalo.
Stock, $450,000
------------ -----------------$450,000
aTonawanda Electric RR 1st 1895 6 A-0
First mortgage, $100.000
40,000 April 1 1927
1920 6%
100.000 Jan 1 1970
mtge
'Interest at company's office, Buffalo.
Income bonds. $150,000
1920 (when earned) 150.000 Jan 1 1950 SCrosstown St By 1st
mtge. gl 1892
5 g M-N b2.888,000 May 1 1932
EARNINGS.
-For cal. year 1921, gross. $131,695; net, $13,925. In
(closed) gu p & 1
es Int. at Metropolitan Tr. Co., N. Y., Trustee.
1920, gross, $135,728: net, $2,461.
Buffalo Traction let mtge. 1898
5 g J-D
673,000 Dec 1 1949
(closed) _
ROAD.-Operates from Buffalo to Hamburg,East Hamburg and Orchard
Int. at Metropolitan Tr. Co., N.Y.. Trustee.
Park, 15
5 3-1)215.000 June
miles; also has a line from Buffalo through Gardenville and Buffalo Bellevue & Lancaster 1897
mtge (redeemable at par)_ Int. at Buffalo Trust Co.. Buffalo. 1 1927
Ebenezer to Lien's Park, 5% miles. An extension to East Aurora, 15
Buff & Niag Falls Else flymiles L9 under construction, 5
1895
5g J J
miles completed. 60-1b.
750.000 July
1935
let M $750.000. gold_ _ _ _c Interest at Bankers Trust Co., New 1York.
girder rail. V 109 p. 2439; V. 110 p. 969; V. 113 p. 2079. T and 80-1b.
Buffalo & Lockport 1st mtge. 1898
5 g J-J
500.000 July 1 1938
gold, 5500.000
Equitable Trust Co.. New York. Trustee.
BUFFALO & WILLIAMSVILLE ELECTRIC RY.
Niagarae Falls Suspension 1897
5 g J-J
144.000 Jan 1 1928
ORGANIZATION.
Bridge, Clifton Suspension' Toronto General Trusts Corp., Trustee.
-Incorporated in New York July 1 1891. In May
1904 atrial. capital was increased from $75.000 to $3,500.000, and in July
Int. at American Exch. Nat. Bank, N. Y.
1904 new mtge. for $3,500,000 was made to provide extension to Rochester. Lewiston Connecting Bridge' 1898
5 g A-0
125,000 Oct 1 1928
Co, Queenston Heights. Toronto General Trusts Corp., Trustee.
In May 1914 Batavia Traction Co. purchased the tracks,
Bridge Co
Int. at American Exch. Nat. Bank, N. Y.
Property, &c.. of this company in Batava. V. 99. p. 269. rolling stock.
aNiag Falls & Susp Bridge Ry_ 1893 6 J-J
518.000 July 1 1923
Fare Increase.
-Effective Jan. 29 1920 the company began charging a aNiag Falls Whirlpool &
By
22.500 July 1 1923
.
7
-cent faro from Buffalo to Williamsville, by establishing zones. V. 110. p. Equip. trust certificates---------- J-1
6%
76.000
1922-23
658.
Real estate mortgages
6-7%
283.082
1923-25
S Of this $350,000 owned by International Railway Co., and $86,000
STOCK AND BONDS- Date.
Interest. Outstanding. Maturity
held In sinking fund.
Stock (83.500,000 authorized)
$75.000
Bonds.
-Of the International Ry. refunding and improvement bonds,
let mtge, $3,500,000. gold' 1904
5 g J-J
168,500 July 1 1944
($500 and $1,000)__c5&r511nt. at City Trust Co.. Buffalo, Trustee. $10.186,500 are reserved to retire prior lien bonds and $744,000 are
pledged as security for the 5
Bonds.
-Are subject to call on any interest date at 105.
-year 7% coll. trust bonds; remaining bonds
may be issued
EARNINGS.
-For cal. year 1921, gross, $51,429; net income, $8,081 I'. S. Comm. only for additions, improvements, &c., with consent of the
Coup. bonds in denom. of $1,000 and reg,
In 1920, gross, $19.723; net income, $2,859.
and multiples. Red. on any int. date at 110 and int. bonds of $1,000
Int. payable at
ROAD.
-6.65 miles of track. Buffalo to Williamsville. Rails 85-lb. T
office or agency of the company in New York. Exempt from N. Y. State,
Gauge 4 ft. fiti inches.
county and municipal taxes. Sk. fd. began in 1912 and will provide by
July 1 1949 sufficient funds to retire all except $641,500 of the outstanding
OFFICERS.-PresIdent. L. L. Lewis Jr.; Sec. & Gen. MarMorgan; Treas., L. K. Warnick.-V. 99, p. 269; V. 110. p. 658. Godfrey underlying bonds to a total par value of 812,651,500. $1,198,800 have been
acquired by sinking fund. The bonds are secured
a 1st M. on about
43 miles of track (incl. 1535 in. In Buffalo) and by by mtge. on remaining
,
INTERNATIONAL RAILWAY CO.
a
property, subj. to divisional bonds. They will also be a 1st
M. on the
ORGANIZATION.-Incorp. in N. Y. on Feb. 20 1902 with $10,120,500 new line between Buffalo and
Niagara Falls. V. 96, p. 62; V. 103, p. 1032.
stock, and in Aug. 1902 this was increased to $17,000,000. and in August The Internat. By. 5-year
7% coll.
1920 further increased to $17.500,000, of which $16.707,500 has been ternat. Ry. ref. & impt. 5s. The tr. bonds are secured by $744,000 InTonawanda Elec. RR. 1st 4s, due origiIssued (all of which was owned by the International Traction Co. up to nally on Apr. 1 1907, were
extended as Is to Apr. 1 1917, and in 1917
-See V. 111, p. 1752), as a consolidation of the following companies, again extended to Apr. 1 1927
1920
at 6%. The Tonawanda Street RR. 1st 6s,
whose shares had previously been helS by the Traction Co. V. 74. p. 427.
originally due July 1 1922, were
Buffalo Railway Co. (after Buffalo Traction and Buffalo Bellevue & Niagara Falls & Suspension Bridge extended to Jan. 1 1926 at 6%. The
By. bonds of 1893 and Niagara Falls &
Lancaster had first been merged in the same).
Whirlpool Northern Ibonds of 1891 given in the tabls
above
Buffalo & Niagara Falls Electric Railway.
These were extended, maturity now being July 1 1923 andmatured in 1903.
bearing interest
Buffalo & Lockport Railway (after Elmwood Ave. and Tonawanda Elec- at 6%.
tric Railway had been merged).
REPORT.
-Of International By. for years ending Dec. 31:
Buffalo Tonawanda & Niagara Falls Electric RR. Co.
Income Cal. Years1921.
1920.
Lockport & OIcott Railway.
1919.
1918.
Total income
$10,900,982 $11.273,696 $9.355,323 $7,502,770
Niagara Falls & Suspension Bridge Railway (after the Niagara Falls Operating
expenses
8,583.472 a8,942,1241 7,970.6241 5,912,848
Whirlpool & Northern By. had been merged in it).
Taxes
718,443
674.365f
Niagara Falls Suspension Bridge Co.
1
531,023
On July 1 1902 the International By. Co. acquired by purchase the
Operating income_ --- 31,599,067 31.657,207 31,384,699
Niagara Falls Park & River By., the Clifton Suspension Bridge Co., the Interest,
$1,0.58,905
rents, &c_ _ _ _ 1 1,499,956
1.657,207
Lewiston Connect. Bridge Co. and Queenston heights Bridge Co. and in Renewals,
1,670,1811 $2,213,163
&c., reserve_ f
Dec. 1912 merged the Electric City Ry. In April 1913 the Crosstown
115.608
1
Balance over charges..
St. Ry. was also merged.
*99.111
None
df.$285,482df$1,269,866
For history of International Traction Co. which formerly held all the co.'s
a The formula for deprec. and renewals adopted by the P. S. Comm.(as of
stock. see "Electric Railway" Supplement of Apr. 30 1921.
New Line.
-The P. S. Comm. has auth. the sale of $3,870,000 Interna- Nov. 30 19191 when granting the 7-cent cash fare
-4 tickets for 25
for the City of Buffalo, represents and annual charge of $1,016,000. cents
tional Ry. ref. and impt. 5% bonds, of which $3,642,000 have been issued
During
to provide for the construction and equip. of the high-speed interurban line the year 1920 the gross revenues after providing for operating expenses,
maint., taxes and fixed charges left but $866,430 available for deprec. and
from Buffalo through Tonawanda and North Tonawanda to Niagara Falls,
16 miles, over private right of way. V. 103, p. 1032; see also V. 107, p. 696. renewals, or 8149,570 lass than the full appropriation required. This
$866,430 is included in the year's operating expenses.
V. 113, p. 1772.
Latest
-Earnings
Abandonment of Portion of Line Authorized.
-For details see V. 114, p. 1922 andEarnings. be found of International Ity. for 3 mos. end. Mar 31
1921 will
in V. 114, p. 2013.
1063.
ROAD,&c.
-Total miles of track, incl. second track, crossovers, sidings,
Franchtses.-Nearly four-fifths of the mileage In Buffalo, including all the &c.,
437.693 miles. Gauge. 4 ft. 83. in. Rail (steel), 45 to 145 lbs. 1,111
most important lines, is maintained, It is stated, under franchises in per. cars
of all
tuity or upon property directly owned, only 47 miles of minor trackage norgy used classes, including 920 passenger cars. Greater part of electrical
is purchased from the Niagara Falls Power Co. and its allied
being operated under franchisee having less than 25 years [from 1916] to o.,
the Buffalo General Electric Co.
run. The franchises of the lines outside of Buffalo are either for various
OFFICERS.-Pres., H. G. Tulley; V.
long-term periods or are without time limit.
-P., E. J. Dickson; V.
-P. & GenFares.
-On April 18 1920 the company put into effect, with the P. S. Counsel, Thomas Penney; Sec. & Trots.. C. A. Weber; Comp.,F. T. Nelson;
Commission's approval, a 7-cent fare tickets being sold at 6% cents. Aud., Charles A. Chavel.-V. 113.p. 628, 1772, 1888, 2613; V. 114,p. 1063
1651, 2013: V. 115, p. 73, 183. 759, SOS, 1837.
V. 109,p. 1986; see also V. 109, 2172; V. 111, p. 188, 493, 895.edCompare
"Electric Railway" Section of Nov. 15 1919, page 17, under capratea'noees
and Wages." Effective May 1 1921. the co under a Joint tarisvringif. 'F
BURLINGTON, IOWA,
passenger traffic with the Niagara Gorge By. put into effect incrosctofa r
UNITED UTILITIES CORPORATION.
See V. 112, p. 2537.
Strike.
-On July 1 1922 the company's empin3res went on strike,following
ORGANIZATION.-Incorp. in 1912 in Delaware as the Burlington
Ry.
a reduction in wages. For details see V. 115, P. 73, 183, 759, 868.
& Light Co., and acquired the People's Gas & Electric Co. and old BurlingDamage Claim Against City Filed.
-The co. In Oct. 1922 filed a claim of ton By. & Light Co. Name changed to present title in Oct. 1921.
33.805,250 for damages alleged to have been incurred through the failure entire municipal and commercial electric lighting and power business Does
of the city to furnish adequate protection during the strike which started lington, Delta, Martinsburg, Fremont, Mediapolis, Wapello, What in BurCheer,
July 1 1922. V. 115, p. 1837.
West Burlington, Sigourney, Iledrick, Thornburg, Winfield, Milton
and
Morning Sun. all in Iowa. Also owns steam-heating and gas plants.
Important Rate Decision.
-See V. 109, p. 370.
Railway franchises are perpetual, except
Judgment against Company.
-In April 1922 it was reported that a jury minor importance. Lighting franchises infor two suburban extensions of
Burlington expire in 1927.
before Supreme Court Justice McAvoy had given a verdict for the Bankers
STOCKS AND BONDS- Date.
Interest. Outstanding. Maturity.
Trust Co. for $155,178, for balance due on a loan made to the International
Traction Co. in 1917 in connection with a bond issue of $2,667,000. The Common. $3.000.000
Preferred 82.000.0006% cum_
6 J-J
1.000.000
case has been appealed.
1.680.000 Mar 1 1932
5 M-S
Interest Payments-Default, &c.
-Because of a 24 days' strike (V. 107. p. first mortgage, $7.500,000, gl 1912
($1,000) sinking fd___e*ttf Int. at Equit. Tr. Co., N.Y., Trustee.
1837) and a subsequent increase in wages the Nov. 1 1918 interest on the
Bonds.
-Remaining bonds are for additions, betterments or extensions,
International Ry. Ref. & lutist. Mtge. bonds was not paid until Jan. 1919
ander certain restrictions. at 80% of cost. Callable at 105 and int. on any
(V. 108, p. 480). Compare V. 107. p. 1837. The May 1 1919 interest on
these bonds was paid, with interest thereon up to July 29 1919. V. 109. 1:.• Int. day on 3 months' notice. Sinking fund of 5% of gross earnings began
477. The May 1 1920 int. was paid on July 12 1920 together rith int. July 1914. V. 95, P. 678.
EARNINGS.
on the deferred payment up to that date. V. 111. p. 188
-For years ending Dec. 31:
The following committee was formed, but in June 1921 bonds deposited
1916.
1915.
1917.
1914.
1913.
were returned to their owners at a cost of $1 for each $1,000 of deposited Grose revenue
$431,580 $427,285 $405,352 $400,818 $366,614
bonds. V. 112, p. 2747.
Net (after taxes)
186.703
182,508
176,124
182,373
177,349
ROAD.
-Owns and operates about 23 miles of track in Burlington
Committee for Ref. & Imps. Mtge. 5s.
-Chairman, Chas. W. Beall,
Francis E. Frothingham, Arthur Perry, Richard B. Young; Sec., Raymond and its suburbs. 66 to 85-1b. T rail. 62 passenger cars.
Spellman, 61 Bway, N. Y. City. Depositary, Bankers Trust Co.. N. Y.
OFFICERS.
-Pros., E. C. Walsh; V.
-P., M. A. Walsh; Sec. & Treas.,
V. 107. p. 2188. 2476.
J. W. Walsh; Gen. Mgr., C. II. Walsh.
-V.108, p. 2240; V. 113,p. 1676. j




•

21

ELECTRIC RAILWAYS

OCT., 1922.]
BURLINGTON, VT.

BURLINGTON TRACTION CO.
t°
In Aug. 1921 the company increased the capital stock from 3200,000
$400.000. Compare V. 112 p. 161.
Maturity.
STOCK AND BONDS- Date. Interest. OutstandingAug 22,1 %
$200,000
Q-F
Stock. $200.000 (par
1942
5%
-year bonds, $500,000-- tf 1912 bonds can only 350.000 with permis30
be issued
-The remaining 4150.000
Bonds.
Service Commission.
sion of Public
Diviaends.-Previous to 1903. 4% yearly. From 1003 to 1912. 6%
2%: May. 24%
Yearly. In 1912. 1913 and 1914. s%. In 1915. Feb.
was paid.
and same rate guar. to and incl. Nov. 1921. In Aug. 1922 i3(%
Sur.or Def.
Divs.
Charges.
Net.
Gross.
12 los. ending$191,947 328.703 317.500 $20,000 sur.$1,202
Dec. 31 1921
20,000 def. 3,532
17,500
33,968
194.913
Des.. 31 1920
-Owns 12 miles of track in city of Burlington. Rails GO. 70
ROAD.
open cars, 2 convertible cars, 2 snow
and 75-1b. T. Owns 13 closed cars, 17
plows, 1 sweeper.
-P. & Treas., Jno. J. Flynn; See.,
OFFICERS.-Pres.. Elias Lyman; V.
-V.94, p. 1185; V. 109, p. 676, 981; V. 112. p. 161.
C. W. Brownell.

State Street By.(now Eastern Mass. St. Ry.). Standard gauge. 21 cars
and 2 snow plows. Franchise perpetual. Power station capacity 487 k.w.,
Mass. St.
also purchases power from Bay State Street By. (now Eastern of Sharon
Ry.). Operates the Sharon & Norwood St. RR.for the citizens
conductor and a given amt. per mile. V. 109 p. 171.
for cost of motorman,
-P. &
OFFICERS.-Pres. & Gen. Mgr. Michael A. Cavanaugh; V. Treas. Ray C. Cavanaugh; Clerk James P. Dunn. Taunton Mass.
989; V. 112, p. 1143; V. 114, p. 1178.
V. 110 p. 560. 1288, 2487; V. 111, p.

CAPE MAY, N. J.
CAPE MAY DELAWARE BAY & SEWELL'S POINT RAILROAD.
In Dec. 1917 the U. S. Navy took over the physical properties of this ca.
and of the Ocean St. Passenger By., extending from Cape May Point to
Sewell's Point, 7 miles, which had been sold for junk at receiver's sale in
April 1917.-V. 105. p. 1616. 2271.

BUTLER, PA.
BUTLER RAILWAYS CO.
ORGANIZATION.-Incorp. July 1 1917 in Penn. as successor to
She Butler Passenger By., the City Division of the Pittsburgh & Butler
By. (the Interurban Division of which was sold under foreclosure May 9
1917-see Pitts. Mars & Butler By.. successor co. under Pittsburgh).
The property of the Butler Pass. By. was taken over by the holders of
$500.000 1st mtge. 5% bonds due 1936 and reorganized.
-In April 1920 the company filed with the Penn. P. S.
Fare Increase.
Comm. a new tariff effective May 11920. increasing cash fares from 7 to 10
cents and ticket rates from sq to 7A cents. V. 110, p. 1748.
sTocK AND BONDS.- Date. Interest. Outstanding. Maturity.
$250,000
Stock $300,000 ($50)
250.000 Jan 1 1948
5 g J-J
i
First mortgage $300,000 gold1918
Butler Co. Trust Co., trustee.
payable
B payr, p
($500 & $1,000)__ _c*Zer.tf Int.u t
Butler,
-Not subject to cal and no sink. fd.
Bonds.
-For cal. year 1921, gross, $106,072; net (before taxes).
EARNINGS.
$23,822; int. & taxes, $15,709; bal., sur., $8,111. In 1920, gross, $152,051;
net, after taxes and deprec., $2,696. In 1919, gross, $126,286; net, after
taxes and deprec., def., $9,829.
ROAD.
-Operates 13.28 miles of track in Butler. Rail (girder, except
2 miles T). 65-lbs. Gauge, 5 ft. 2 In.
-P., J. V. Ritts; Sec.-Treas. and
; V,
OFFICERS.-Pres..
Gen. Mgr., R. E. Sprenkle.-V. 110. p. 1748.

BUTTE, MONT.
-Trolley.
BUTTE ELECTRIC RAILWAY.
This company was incorporated in West Virginia in December 1899 as
of the Butte Consolidated By.. sold at foreclosure.
successor
Interest due on Mar. 1 1915 was paid Sept. 1 1915 and subsequent coupons duo March 1 and Sept. 1 1915 and March 1 1916 were paid 6 months
after they became due. Subsequent coupons paid when duo up to and incl.
Sept. 1918. Reports state that the March 1 1919 int. was not paid when due.
V. 108, p. 1822. No later information.
-V. 107, p. 694; V. 110, p. 2657.
Strike Settlement-Wages.
-In Aug. 1919 was auth. by the Montana P. S. Comm. to increase
Fares.
fares from 6 to 7 cents. V. 109, p. 676. Effective June 10 1920. was auth.
V. 111, p. 73. Effective July 20 1921, cash
to increase fares to 8 cents
fares were raised to 10 cents. V. 113, p. 530.
Interest. Outstanding. Maturity.
BONDS- Date.
STOCK AND
$1.000,000 Oct '06. 2%
NI-N
Stock. $1.000,000 (par $100)_
900.000 Mar 1 1921
5 g M-S
let NI,$900.000. gold. $1,0001 1900
cseptl Interest at W. A. Clark & Bro.. Butte.
each
-May be called for payment on Mar. 1 1915, or on any interest
Bonds.
day thereafter. Sinking fund of 10% par value of bonds began Mar. 1 1916.
-In 1905, 4%; in 1906, May. 2%; Oct., 2%; none since.
Dividends.
-For cal. year 1919 and years ending June 30:
EARNINGS.
Balance.
Interest.
Gross. Net (aft. Taxes). Depr'n.
Yeardef.$87,805
$45,000
$60,784
817.979
5700.321
1919
sur.34,097
44,667
53,758
132.523
700,866
1917-18
sur.11,974
42.687
51.435
106,097
722.357
1910-17
Passengers carried in 1919, 13,486,733.
-80-85-90-lb. T rails.
39.0857 miles of track. 56-60
-Operates
ROAD.
61 passenger and 4 work cars.
,W. A. Clark,Jr.; Sec. &
OFFICERS.-Pres., W. A. Clark, Butte; V.-P.
-V. 108, 1822; V. 109.
Treas., J. H. Anderson, 20 Exchange Place, N. Y.
111, p. 73; V. 113, p. 530.
p. 676; V. 110, p. 2657; V.

CALAIS, ME.
-A trolley road.
CALAIS STREET RA ILWA Y.
-Stock. $50,000 corn. and 850.000 pref.; first
ORGANIZATION.
mortgage, 1910 (ntf). 58. J-J, $100.000 due July 1 1930.
-Gross earnings for cal. year 1921, 357,968; in 1920,$55,697;
REPORT.
in 1919, $50,882.
-Calais Street By.. lower wharf to upper bridge. Calais. 4 mike,
ROAD.
St. Stephen Electric Ry.. Milltown, N. B.. to St. Stephen. N. B., 3 miles.
total. 7 miles. The St. Stephen Electric Street By. is a separate corporation, but is owned entlrely by the Calais company. 9 cars.
OFFICERS.-Pree., George A. Curran; Sec., Treas. & Gen. Mgr.
Benjamin Y. Curran; Supt., C. F. Pray; all of Calais. Me.

CANTON, MASS.
-A trolley road.
BLUE HILL STREET R A ILW A Y.
-In March 1920 George Spalding,
Operations Suspended-Receiver, &c.
receiver for the company, annotioced that operations having been suspended
he would have the road sold for junk. V. 110, p. 1288. In June 1920 it
was reported that the road had been sold to a bondholders' committee for
$100,000. V. 110. p. 2487. Later reports, however, indicated that the
road had been sold for junk. In Mar. 1921 a bill was introduced in the
State Legislature to have the State, through the Boston Elevated By. trnstees. assume the rehabilitation and resumption of service of a portion of
this road. It is understood that although the line has been sold for junk
the purchaser has not yet (Mar. 1921) removed the track or overhead line.
V. 112 p. 1113. In M Ir. 1922 it was reported that Milton and Itosinn
business men were planning to repurchase the road. V. 114, p. 1178. No
further information.
-On Nov. 1 1917 Michael A. Cavanaugh of Roxbury, Mass.,
Control.
purchased the holdings of Stone & Webster (former Managers).
-On Dec. 15 1918 the co. Increased rates In one zone to 8 cents
Fares.
zones being raised 1 cent. Comand in 3 zones to 7 cents, fares in all otherFebruary. 1920, flled a schedule
pare V. 107, 0. 1836. The receiver into 7
cents. V. 110. p. 660.
1 1920 Increasing tares
effective March
Interest. Outstanding. Maturity.
STOCK AND BONDS- Date.
$300.000
Stock. $300.000 ($100)259,000 Oct 1 1922
5
First mortgage. $500.000. J 1903 Old g A-0 Trust Co., Boston, True
Colony
lint. at
gold
-Callable as a whole at 115 and int. Non-taxable in Mass.
Bonds.
-For years ending Dec. 31:
EARNINGS.
Deficit
Int.,&c.
Net.
Gross. Exp.&Taxes.
Year825.233
$21,156
$82.381 def.$4,077
178,304
1918
14.542
21.498
6,956
81,518
88.474
1917
-Operates 19.7 miles of track from Mattapan where connection
ROAD.
Is made with the Boston Elevated Ely., to Canton and Stoughton, at which
latter point it connects with the Bristol & Norfolk Street By. and the Bay




CEDAR RAPIDS, IOWA.
IOWA RAILWAY & LIGHT CO.
-Is a re-incorp. in 1912 of the Cedar Rapids & Iowa
ORGANIZATION.
City By. & Lt. Co. and has acouired the properties formerly owned by the
following companies:
I Marshalltown Lt., Power & By. Co.
Belle Plaine Elec. Co.
'Nevada (Iowa) Electric Co.
Boone Electric Co.
Cedar Rap.& Iowa Cy. By.& Lt.Co. Perry Elec. Lt., Pow. & Heat Co.
Marion Light, Heat & Power Co. 'Tama & Toledo Electric Power Co.
Owns and operates entire electric light and power properties in Cedar
Rapids, Marshalltown, Boone, Marion, Perry, Belle Plaine, Blairstown.
Chelsea, Tama, Toledo and Nevada, and supplies more than 50 towns
through its high-tension lines; interurban road between Cedar Rapids and
Iowa City and Cedar Rapids, Lisbon and Mount Vernon; the local street
Marshalltown and
railways in Marshalltown and Boone; the gas plant in and Perry. Interthe heating properties in Cedar Rapids, Boone, Marion
is on private right of way. Also does a freight business, exurban road
changing freight with steam roads.
Interest. Outstanding. Maturity.
STOCK AND BONDS- Date.
See text.
$1,700.000
Common 33.000.000
4.203.231 Sept'22,
-M
Q
36,000.000. 7% cum_ _
Pret,
188.000 June 1 1923
g J-D
5
Cod Rap & Iowa City it &I 1903
1st NI $2,000,000 gold ($1,- Illinois Tr. & Say. Bk., Chicago, co-trustte.
Int. at Harris Tr. & Say. Bank, Chicago.
c'tf
000)
5-7-8 M-S 7.112,000 Sept. 1 1932
1st & ref mtge 310,000.000 g 1912
_c*tfilIarris Tr. & Say. Bank. Chicago, trustee.
($500 and $1,000)_
_- ref. bonds boar int. at 7% and $1,000,000 boar
-$500,000 1st
Bonds.
proyided for
int. at 8%. The remainder are 55. The original indenturemtge. on the
int. at 5%. The extra int. coupons are secured by a gen.
and underlying mtges. The bonds with
property subject to the 1st & ref.
the 2% extra int, coupons are red. on any int. date up to Mar. 1 1923 at
to Mar. 1
110;4; Mar. 1 1928 at 108; and decreasing 1% each year thereafter $188,000
1932. V. 112. p. 849. Of the remaining 1st & refunding bonds,
are reserved for prior lien and remainder are for extensions and additions at
Subject to
80% of cost for acquisitions, &c., under certain restrictions per annum
call on any interest date at 103 and interest. Sinking fund 1% 1931. 3%•
of bonds out, Mar. 1 1916 to 1921. 1922 to 1926, 2%; 1927 toand betterSinking fund is used for redemption of bonds or for extensions
ments. V. 95, p 750; V 112. p 849; V. 113, p. 71. fund began April
On Cod. Rap. & Iowa City By. & Lt. 1st M. a sinking
2279.
1 1908 and bonds are subject to call at 10734 & int. See V. 77, p.in 1911 to
-7% is being paid on pref. stock. On common,
Dividends.
In 1915. 4%; in 1916 and 1917 at the rate of 6%
1914, 2% per annum.
of 1%. In 1921,1 11-12%. In 1922. Jan., 5-12%;
per annum. In 1918,
monthly since to and incl.
Feb., 5-12%; Mar., 5-12%; April, M%,and
5.4
S221_1922.
combined properties year ending Aug. 311922, gross.
a
-NIK- -Of
-Yrit
$3,249,760; net, after open. exp., taxes, maint. and renewals, $1.084.145;
annual interest charge (incl. notes), $437,326.
-Operates an interurban road 4434 miles long on private right'
ROAD.
-way substantially 100 ft. wide between Cedar Rapids, Iowa City and
of
Lisbon: also local street railways in Marshalltown. Boone and Cedar Rapids.
42 passenger cars, 30 freight; misc., 9; total, 81 cars. Capacity of power
plants. 31,500 h. p. In the fall of 1917 completed the installation of a
2.000 k. w. automatically controlled hydro-electric plant at Cedar Rapids.
the first of its kind to be put in operation. The company completed in
1921 the installation of a 12,500 k.v.a. steam turbo-generator at Cedar
Rapids.
.and Isaac B.Smith.
-P. Tress.
OFFICERS.-Pres.,William G.Dows; V.
-P, John A. Reed; Sec. & Asst. Treas. C. S. Woodward; Gen. Mgr.
V.
-V. 105. p. 716, 818; V. 106, p. 602; V.
S. C. Dows, all of Cedar Rapids.
109; p.776; V. 110. p. 2568: V. 111. p. 896; V. 112, p. 849; V. 113, P. 71,
533; V. 114, p. 1179; V. 115, p. 308.

CEDARBURG, WIS.

-An electric road
MILWAUKEE NORTHFRN 12 Y.
-In July 1922 it was reported that the North American Co.
New Control.
the co. V. 115, p. 436.
would acquire control of
ORGANIZATION .-Incorporated in Wisconsin in 1905. Operates In•erurban system entirely on private right-of-way. All franchises were
the
superseded by perpetual rights under indeterminate permits In 1919 and R.
R.
rates ot fare are now solely within the jurisdiction of the Wisconsin
Sheboygan Electric Co.
Commission. Enters Sheboygan over tracks of
under perpetual contract.
cents
for
-In July 1918 increased rates from 8 tickets fare 25
Fare Increase.
with no
-cent
to 6 tickets for 25 cents, and in Sept. 1920 a straight 5
effect. V. 111, p. 1949.
tickets was put into
Maturity.
STOCK AND BONDS- Date. Interest. Outstanding.
$1.000,000
Stock, common, 51.000.000
400,000 Apr '22. 3%
1st pref.. $400,000,6% cum
600.000 Apr '22. 3%
-I-S
5
2d pref. 3600.000,6% non-cum.___1,737.000 Apr 1 1931
5 A-0
let mtge $4,000.000 gold! 1911
ctflInt. at First Say.& Tr. Co., Milw., Trustee.
($500 and $1 000)
are
-Remaining bonds may be issued only when net earnings coat
Bonds.
75% of
twice int. charges, Incl. bonds to be Issued, at not exceedingV.92. v. 725.
additions, &c. Subject to call at 105 and int.
of extensions,
-Dividends of 3% paid s.-a. on 1st prof. from Sept. 1911 to
Dividends.
May 1916
Mar. 1914 (incl.). None to Jan. 1916. when 134% was paid. In 1916 paid
4% and %% each month thereafter to Oct. 1916. In Dec. accumu3%. In April 1917.3%. In 1918:6%. In Apri11919 paid off all6%. In
1920,
lated divs. up to April 1 1919. In Oct. 1919, 3%. In from Sept. 1911
1921. 6%. In 1922, Apr., 3%. On 2d pref. paid 3% s.-a
1919,
to Mar. 1913 incl. None to Apr. 1919, when 3% was paid. In Oct. _
,.
3%. In 1920, 6%. In 1921,6%. In 1922, Apr., 3%.
EARNINGS.-For calendar years:
'
Gross. Exp. & Tax. Net. ' Interest.'Divs. Surplus.
Year8581.659 $404,167 8177.492 591.965 160.000 $25,527
1921
38,100
60,000
90.310
188.410
440,877
629,287
1920
CedarROAD.- Will be 120 miles long. running north from Milwaukee to
via Port
burg, where it forks, one branch extending to Sheboygan of track. WashingIncluding
am and the other to Fond du Lac. Operates 69 miles
”S miles in Milwaukee, between Milwaukee, Cedarburg and Sheboygan.
Is double-tracking the line between Milwaukee & Cedarburg. 10 miles
-lb T rail.
eompleted. Gauge. 4 ft. 834 in. 70
OFFICERS.-Praei.. Wm A. Cometock; V -P. and Gen Man.. F. W.
-V. 115, p. 436, 1532.
Sec. and Treas., Henry A. Haigh.
Walker;
--

CENTERVILLE, IOWA.
IOWA SOUTHERN UTILITIES CO.
-In May 1919 David G. Fisher & Co. of Davenport,
Change in Control.
Is., public utility engineers, purchased the holdings of D. 0. Bradley and
Frank S. Payne. Pres. and Treas.-Gen. Mgr.. respectively. The transaction Is said to have involved in the neighborhood of $450.000 and the
formal transfer of control was made on May 15 1919. V. 108. p. 1940, 2245.
-Organized In Maine in 1905 as the Centerville Lighi
ORGANIZATION.
In 1916 acqured
& Traction Co. Name changed to present title in 1916
property of the Centerville Albia & Southern Ry. Owns and operates
the
without competition the street railways serving Centerville. interurban
lines run from Centerville to Albia and Centerville to Mystic, total mileage.
32 miles. Has also acquired all the property of the Moulton Elec. Co.

22

ELECTRIC RAILWAYS

NS
0
VALLEY JCT.
(IOWA)

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Nashville
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Fairfield
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Putoka
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Kenneth
Little
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Princeton Massey
City Properties controlled
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OAKLAND CITY
Bonnie
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Fort
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0 Electric Light
Elberfeld
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o Chester
‘65
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Igiehart
Johnston City
Murphysboro
St.George
MI Street Railway, Electric Light and Heat
• •
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Railway, Electric Light, Gas and Heat

Electric Light and Gas

D

Electric Current Sold to Local Companies

I Electric Light and Water

40n4to

• Iludgens
Goreville
Omar
Buncombe
Vienna

MAI. OF THE

SHOWING CONNECTIONS WITH
CHICAGO & EASTERN ILLINOIS RAILROAD

CHICAGO, ROCK ISLAND a PACIFIC RAILWAY
TERRITORY IN ILLINOIS




giver

OUNDS

44..44"
64.
cA.,L,R

,
Iv • ,Metropolis
MOUND
CITY

°Henderson
C",-t.XP LA NA TION

iscoporm Interurban Lines

vo,N.

T Electric Light, Gas and Heat
ILLINOIS TRACTION SYSTEM
CHICAGO. OTTAWA & PEORIA RAILWAY

(I)

Electric Light Transmission Lines
oujo
a O Interurban Railway and Transmission Service
ninon
Street Railway, Electric Light, Gas, Heat and Ice
'A.Street Railway, Electric tied, Gas and Ice

T

U

C

K (Y

OCT., 1922.]

23

ELECTRIC RAILWAYS

Leon Elec. Co., Mt. Ayr Lt. & Power Co., Lenox Elec. Co., Clearfield
Elec. Co. and Blockton Lt. & Power Co., thus owning all the public utility
properties serving more than 30 communities with an estimated population
of 55,000, including Albia, Centerville, Moulton, Moravia, Allerton, Leon,
Mt. Ayr, Clearfield and Lenox. Franchises run beyond life of bonds and
contain no burdensome restrictions.
Interest. Outstanding. Maturity
STOOK AND BONDS- Date.
$580,000
Common stock $5.000.000Pref stock 7% $5,000,000503900
Serially
259.000
Serial debenture mortgsge___ _--6%
6 g A-0
1,765,100 Oct 1 1933
1st M $2.500,000 sk fd gold( 1916
($100,$500 & $1,000) c..tf(Int. in N. Y.or Chicago. Central Trust Co
redeem at 105 and Interest I, of Illinois, trustee.
7,500
Bonds assumed
-A direct first mtge. upon the properties, &c., now owned and
Bonds.
hereafter acquired. Additional bonds may be issued up to 80% of cost ot
permanent °stens.. Szc.. when net earnings are twice int, charges on all
bonds outstanding, including those proposed. A minimum maint. charge
for railway properties of 17% of gross earnings from railway operations, is
provided. Sinking fund began March 1 1919. of 10% of net earnings
of the average amount of
for the previous year, but not less than 1
1st M. bonds outstanding during the year to retire bonds or for permanent
Improvements. V. 104, p. 73. The debenture bonds are secured by mortgage, subject to the first mortgage bonds.
-For years ending Dec. 31s.
EARNINGS.
Net. after Taxes. Bond,&c., Int. Dividends. Surplus.
Cal. Yr. Gross.
$182.175
$30.012
$120.645
1921 ___8590.916
$31,488
25,656
121,101
175,660
1920 ___ 670,167
25.900
PROPERTIES.
-A steam plant at Centerville with 240 miles of hightension transmission lines; steam heating system at Centerville; a gas
generating and distribution system at Centerville; a short street rail
way in Centerville, also electric railroads on private right-of-way connecting Centerville with Albia and Mystic, which do a freight and express bust
ness and are connected with transcontinental railway lines.
OFFICERS.-Pres., David (1 Fisher: V.
-P., Ray Nyemaster; Sec.,
H. Ft. Bechtel; Treas. & Gen. Mgr., E. F. Bulmahn; Aud., E. L. Shutts.
104, Is• 73: V. 108. ri• 1940, 2245.

Gross Earnings1921.
Oper. expenses and taxes 16,088,616
Net earnings
Interest on bonds, &c
Depreciation
Bond discount
Pref. dividends (6%)
Common dividends

1920.
15.496,602

1919.
12.544.181

1918.
10,966,998

$6,512,279 55.821.128 55.138,157 $4,291,005
$4,291,885 $4.107.927 53,040,305 53,880,261
1,001,339
611.159
627,729
1,504,033
,
107,109
135,866
92.123
115.025
437,370
437.370
437,370
437,370
(%)92,480

Total deductions
Surplus

$6,369.159 $5,653.745 $5,120,429 55.113.393
$17,728 def.3819.388
$143,120
5167,383
ROAD.
-The interurban lines comprise 625.61 miles of track; city lines
comprise 270.22 miles of track: total of all lines. 85.83 miles. In 1912
entered into a contract with Wabash RR. for a physical connection and
general interchange at Decatur. Has working agreement with all steam
roads in its territory that can be of service, except the Pennsylvania (joint
rates via. N. Y. Central Lines and Erie RR. to eastern points are now
effective.) Interurban lines have 197 passenger, 124 express, 1,085
freight cars and 34 miscellaneous cars, and 35 locomotives; city lines have
425 motor cars and 201 others; 4 central power stations and 40 sub-stations
on interurban lines.
OFFICERS.-Pres., Hon. W. B. McKinley, Champaign V.
-P. & Gen.
Mgr.. H. E. Chubbuck, Peoria; V.
-P. & Treas., Geo. M Mattis. Champaign; Sec., T. B. Macaulay, Montreal.
-V. 107, p. 2476; V. 108, P. 2428,
2443; V. 109, p. 370, 477, 1700; V. 110, p. 1415; V. 111. p. 182. 188, 792:
1472, 1752, 2041: V. 112, p. 469. 562 1617, 2185; V. 113. p. 848, 1887.
2720, 2819; V. 115, p. 73, 439, 864, 830.

PROPERTIES CONTROLLED BY THE ILLINOIS TRACTION CO.
(1) Atchison Railway, Light Sr Power Co.
ORGAN IZATION.-Successor in 1895 of the Atchison Ry. Elec. L.& P.
Co. Controls electric railway, lighting and gas properties of Atchison.
Fare Increase.
-See Illinois Traction Co. above and V. 112, p. 371.
STOCK AND BONDS- Date.
Interest. Outstanding. Maturity.
Stock. 51.500.000 (5100)_
$500,000
Preferred
136.000
6%
First mtge 51.500,000__ tf 1910
1935
750.000 Nov
5%
CHAMBERSB UR G, PA.
Bonds.
-Sinking fund, $10.000 per annum, payable Nov. 1; $67,500.,held
CHAMBERSBURG & GETTYSBURG ELECTRIC RY.
alive in fund Oct. 1 1922.
ORGANIZATION.-Incorporated in Pennsylvania Dec. 4 1900.
ROAD.
-Operates 9.74 miles of track. 26 cars. Supplies city with
Maturity. 99 arc lights and 109 Incandescent lamps; also 8 arcs for commercial
Interest. Outstanding.
STOCK AND BONDS- Date.
$225.000
eteck $225,000 ($50)lighting; 3,033 electric and 2,427 gas meters in use.
-V. 113, p. 2184.
225,000 May 1 1933
let mtge. $225,000 ($1,000),J 1903
5 M-N
(2) Bloomington Decatur & Champaign RR.
not red., no sink fund _col Int. at Northampton Tr. Co., Easton.Trust
EARNINGS.
-For calendar years:
ORGANIZATION.
-Incorporated in Illinois on Nov. 29 1910 as a conOth.Inc. Int.& Tax.
Balance.
Net.
Gross.
Yearsolidation of the Chicago Bloomington & Decatur Ry.and St. Louis Decatur
$12,119
def.$3,417 & Champaign By. Operates on private right of way except through cities
$513
$8.189
$53,015
1921
13,512
251
sur. 6,276 and towns (8 miles) where tranchtses extend to or beyond 1953.
19,537
59,067
1920
. 5.50(i
stir .
11.958
928
16 W1
1919..- -- .___ _ 59.283
STOCK
Interest. Outstanding. Maturity.
ROAD -Operates 12.93 miles of all track between Chambersburg, Stof- Common. AND BONDS- Date,
33.000.000
53.000,000
fe,rstown, Fa.yetteyille, Greenwood and Caledonia. 60-girder rails.
Preferred 5% ($1.137,500)___
1.137.500
Gauge 5 ft. 2 in.
1.496,000 Nov 1 1948
5g M-N
-P., T. B. Kennedy: Sec. and lst & ref mtge.$15.000,000, gf 1910
OFFICERS.-Pres. M. C. Kennedy; V.
(51.000 coup & $1,000 or Interest at Illinois Trust Sr Savings Bank.
Ritchey; Aud.. F. J. Fell, Jr.; Supt., D. B. Fretz.-V, 105,
Treas., W. L.
multip reg.) go p&i.c*&r•tf 1 Chic., Trustee,or Chase Nat. Bank. N. Y.
D. 2271.
General mortgage
890,000 Nov 1 1941
5 M-N
1910
Central Trust Co. of Illinois. Trustee.
CHAMPAIGN ILL.
Chic Bloom & Decatur 1st M
1936
4.000
--(See Map on page 22.)
siork.-Of the pref. stock, $912,500 is Series "A" and $225,000 le
ILLINOIS TRACTION CO.
-Incorporated in Maine on May 13 1904. On Series "B."
ORGANIZATION.
In March 1916 issued $500.000 5% Ser. A pref. stock to retire a like
Nov. 10 1913 Increased the auth. common stock from $10.000.000 to
$15.000,000. in order to acquire control of the allied Western Railways & amount of General Mortgage bonds.
Bonds.
-Of the $13,500,000 "1st & ref." bonds reserved for various purcons. were exchanged for one
Light Co. Two shares of Railway & Light
of Illinois Traction corn.. 54,510.100 of the $.4.521,800 stock outstanding poses. 86.853.000 are reserved fer acquisitions of two connecting interurban
roads (Danville Urbana & Champaign and Illinois Central Tree.).51,386,000
being so acquired. The pref. stock of the Railways & Light Co. remain
outstanding. See V. 97. D. 1426.1504. Controls the following companies to redeem the general mtge. bonds,$472,000 to replace general mtge. bonds
Issued in the future and 51,761.000 for 80% of cash cost of additions and
Jefferson City Bridge .3r Transit Co
*Atchison By., Lt. & Power Co.
Improvements. These 84,761,090 bonds. excepting 3500.000 (issuable at
Bloomington Decatur & Champ. RR *Jefferson City Lt.. Ht. & Pow. Co
any time for 80% of cost of additions and improvements, with consent of
Bloomington & Normal Ry.& Lt.Co. Madison County Light & Power Co
N. W. Halsey & Co.) can be issued only when the preceding 12 months'
Mills County Power Co.
'Cairo City Gas Co.
gross earnings have equaled five times and net earnings 1ti times the interMontezuma El. Lt.,Pow.& Htg.Co
*Cairo Electric & Traction Co.
est charge on all bonds outstanding and those proposed to be issued. Bonds
Monticello Electric Light Co.
*Cairo By. & Light Co.
are unconditionally guar., p. & I,, by Illinois Trac. Co. They are redeem*Cairo & St. Louis Ry. Co
*Mound City Light & Water Co.
Central Lighting Co.
New Valley Junction Water & Lt. Co able at 105 on any int. date. V. 92, p. 259. Int. on general mtge. bonds is
payable at office of Merchants' Bank of Canada. New York.
*Chicago Ottawa & Peoria Ry. Co. *Northern Illinois Light & Trac. Co
`Citizens' Ltg.Co., La Salle-Peru.
North Missouri Light & Power Co.
ROAD.
-Owns and operates 106 miles of track (96 miles, mainline: 10
Citizens Pure Ice Co., Jacksonville. Omaha & Lincoln Ry. & Lt. Co.
miles sidings) extending from Bloomington through Decatur to Champaign
Clinton (Ill.) Gas & Electric Co.
Oskaloosa dr Buxton Elec. Ry. Co and Urbana. 60 and 70
--lb. rails. Standard gauge. 213 cars and 6 locoColfax Electric Light Co. (Iowa).
Oskaloosa Light & Fuel Co.
motives.
-V. 102. p. 65.
*Consumers Water & Light Co.
Oskaloosa Traction & Light Co.
(3) Bloomington & Normal Railway Sc Light Co.
Danville Charn.& Dec. By. Sr Lt.Co. Peoples' Traction Co.
Danville & Eastern Illinois By.
Peoria Railway Co.
OROANIZATION.-Incorporated in Illinois on Feb. 23 1906 as a consolidation of the Bloomington & Normal By., Electric & Heating Co. and
Danville & Northern RR.
*Quincy Railway Co.
the Consumers Light Sr Heating Co. of Bloomington. Does all local street
Danville & Southeastern By. Co.
St. Louis Electric Bridge Co.
railway and commercial electric light and power business In Bloomington
Danville Street Railway & Light Co St. Louis Electric Terminal By.
and Normal and operates hot-water and steam-heating system in Bloom.
Danville Urbana & Champaign Ry. St. Louis Springfield & Peoria RR
Ington. Principal railway franchise in Bloomington expires in 1929. In
Decatur Railway & Light Co.
Topeka Edison Co
this franchise city reserves right to purchase plant at an appraised value
Topeka Railway Co.
Des Moines Electric Co.
plus 10% of same. Railway franchises in Normal that are not perpetual
Dos Moines & Cent. Iowa Elec. Co. Topeka Railway & Light Co.
Galesburg Artificial Ice Co.
Urbana Sr Champaign Railway. Gas expire In 1922. Principal lighting franchises are perpetual. Minor franchises in Bloomington for lighting and for steam and hot water heating
*Galesburg Ry., Lighting & Power.
& Electric Co.
expire in 1930 to 1935.
Urbana Light, Heat & Power Co
Galva (Ill.) Electric Light Co.
In 1921 the co. issued 572,000 1st & gen. Mtge. 5s. $108.000 capital
Western Rys. & Lt. Co.
Illinois Central Traction Co.
stock and 893.000 bond-secured notes. See also V. 113, p. 1837.
Jacksonville Railway & Light Co.
*Wichita RR. & Light Co.
Rates.
-See Illinois Traction Co.. above.
Companies marked with • formerly comprised Western Rys & Lt.'Sys.
In July 1920 the following companies filed notices of dissolution: DanSTOCK AND BONDS- Date,
Interest. Outstanding. Maturity.
ville St. By.; City Electric By.: Springfield & Northeastern RR.; Peoria Corn stock. 51.200.000 (5100)_
$1.200,000
Streator & Ottawa By.; Champaign & Springfield Belt Ry. V. 111, p. 188. Prof stk.. 81,700,010 6% euns
878.000
Q-P
In Aprli 1907 obtained a 50
-year franchise on certain streets of St. Louis let and gen mtge, $3,500.000 1 1911
5 J-J
1.301.000 Jan 1 1928
and was also given authority by the U. S. Government to build a bridge
gold ($1,000)
c*Scrtf Illinois Trust & Say. Bk.. Chicago, Trustee.
across the Mississippi River between Venice.III.. and St. Louis, Mo. This B&NR E&H 1st mtge,1 1902
5 g J-D
600,000 June 1 1927
bridge was opened to traffic in Nov. 1910 and, with terminals In St. Louis.
3800.000(31.000)g,s f_c•tf Int. at III. Trust & Say. Bk.. Chic.. Trustee.
represents an investment of over $6,000,000. V. 92. p. 259. On July 1
Stock.
-The pref. stock is red. at 105 and accrued dly. and is guar. p. & d.
1911 began running express trains between St. Louis & Peoria. 174 miles,
with only two stops
-at Springfield and Lincoln-the running time being (end.) by the Illinois Traction Co. Tax exempt In Conn.. New Hamp5 1 hours, or abou 32 miles an hour (V. 93, p. 44). In Aug. 1911 the shire. Illinois, &c.
4
Bonds.
-Or the 83.500.000 first and gen. mtge. bonds, 5209.000 are
company opened ofices in Chicago, with the purpose of securing freight
from points between Chicago and St. Louis. though company has as yet pledged as collateral for $112,000 of notes. 3600,000 are reserved for prior
liens and 51,456.000 for extensions and improvements under certain reno direct entrance into Chicao. V. 93, p. 527.
structions. Are guar., prin. and Int. and sink, fund by III. Trac. Co. Int.
Fare and Rate Increases.
-Owing to the large umber of subsidiary cos. In is7 Y or Chicago. Callable as a whole or in part for a. f. at 1021 and
4
embraced in this system and the consequent numerous changes in fares and Interest on any interest date. Sinking fund of 2% of bonds out annually
rates we find ourselves obliged to give merely the reference to the "Chroni- Of the bonds outstanding. $229.090 are in sinking fund. V. 93. p. 665.
cle" page where details of the various revisions in rates may be found. The Railway Electric & Heating Co. bonds are subject to call at 110 and
See "Illinois Traction Co." in V.107. p. 1287, 2476; V. 109, p. 370,477,886: int. Sinking fund, $10,000 annually, began June 1908; $219,000 are In
V. 112, p. 469. 562.
sinking fund and included in amount outstanding.
Subsidiary companies' bonds in the hands of the public Jan. 1 1922
ROAD.
-Operates 19 miles of track in, around and between Bloomamounted to 358.441.300.
STOCK AN D BONDS- Date.
Interest. Outstanding. Last Divid ington and Normal. Rails 70 and 72-1b. Has 32 pass. and 5 misc. cars.
Power station has 3.300 k. w. capacity.
-V. 106, p. 2648; V. 109. P. 886.
Common.$15.000,000 ($100)512.331.000 See text
Pref6% cum $10.000.000(3100)-Q-J
7.289,500 Oct '22. 134
-A trolley road.
(4) Cairo Railway Sr Light Co.
13,000.000 Feb 1 1925
ORGANIZATION.-Incorp. on Oct. 5 1908 in Maine and purchased
Debenture gold bonds
I 1.500.000 Jan 1 1926 all stock of the Cairo Elec. & Trac. Co., the Cairo City Gas Co. and the
5%
1
62.000 Apr 1 1927 Cairo & St. Louis Ry. Co. The Cairo Elec. & Trac. was a consolidation of
Western Railways & Light Co.the Egypt Electric Co. and the Cairo Electric Light & Power Co.
3,169.000 See text
Q-3
Pf cum 6% 53.500.000($100)- ----See Illinois Traction Co., above.
Rates.
tf
1.645.000
5%
Debenture gold bonds
STOCK AND BONDSDate. Interest. Outstanding. Maturity •
-Additional preferred stock can only be issued when net earnings
Stock.
9% on preferred stock out and the amount proposed to be Stock. corn.. 51.000.000 (5100) All owned by Western Rys. & Light Co.
are equal to
Prof. stock 3366,000
5366,000
issued. Preferred stock is listed on Montreal Stock Exchange.
Cairo Ity & Lt
$1.000,000 gntf 1908 5 g J-13
850.000 Dec 1 1938
Dividends.
-6% per annum is being paid on the preferred stock. First 0 E &
1st M. 5300.000, gntf 11903 5 g J-D
150.000 June 1 1923
15 1913: same rate quer. to and incl. Feb.
div. on corn.. 84%, paid May
cntflInt.
($500 and 51.000) _
Co.. Chic, Trustee.
1918; May 1918 div. omitted (V. 106, p. 1231, 2228). None since. Divs. Cairo City Gas Co $75,000 gold 1903 at Central Trust75,000 June 1
5 g J-D
1923
have been paid on Western Rys. & Light pref. stock since organization.
-C.E.& T. bonds subi, to call on any int, date aft. 10 yrs. at 105.
Bonds.
REPORT.
-Of combined properties for calendar years:
-Operates 9 miles of track in Cairo. together with the electric
ROAD.
1918.
1919.
1920.
1921.
Gross Earnings.lighting and power plant. 22 cars. Furnishes city with 341 incandescen
$7.161,773 $7.175.661 35.930.524 $4,740.079 lights: also supplies 40 commercial arcs.
Interurban lines
-V.88, p. 293. 374.
3.997.349
4.673,949
3.351.256
4.564,508
City lines
(a) Cairo & St. Louis Ry.
1,074,947
1,248.666
1.282,104
1,555,134
Gas
Controlled by Cairo By. & Light Co.
4,887.713
6.977,212
5,733.746
8,139.356
Electric
ORGANIZATION.
-Incorporated in Illinois Oct. 1908 to construct a
1.242.242
945,772
999.821
Heat, water and miseell_ 1,180,124
me from Cairo to East St. Louis. Has a 50
-year franchise in Cairo, Mound
Total gross earnings__$22,600,895 $21,317,730 $17,682,338 515,261,003 City and Mounds.




24

ELECTRIC RAILWAYS

STOCK AND BONDS- Date.
Interest. Outstanding. Maturity.
Stock,5.300.000_
$300,000
First mtge. $250.000,g_c&rtfi 1908
5 g MN
250.000 Nov 1 1938
Portl'd(Me.)TeCo.Truss& F.n.Lunt,Portl'd
Bonds.
-Coupon bonds are n $1,000 pieces aud registered in any desired
amount. Int. at Portland (Me.) Tr. Co. No s. f. and not subject to call.
ROAD.
-11.46 miles of track completed and In operation; 10 cars; 1
engine.
-V. 88. p. 293
(5) Chicago Ottawa Ec Peoria Railway Co.
ORGANIZATION.
-Bought outright in 1909 the Illinois Valley Ry.
Operates largely on private right of way. Franchises in various towns
mature mostly after 1950.
Rate Increase.
-In Aug. 1918 was auth. by the Ill. P. U. Comm. to increase freight rates 25%. V. 107, p. 603.
STOCK AND BONDS- Date.
Interest. Outstanding. Maturity
Corn. stock-$1.540.000 outstand'g-All
by Western Rya.& Lt. Co
Preferred stock cumulative_
6%
$406,000
First cons and ref mtge, guar, 1907
5 g J-D
3,494.000 Dec 1 1937
$5.000,000 ($1.000)___ _ tf Central Trust Co. of Illinois, Trustee.
Illinois Val 1st M.$1,500,000 1905
5 g M-S
1.500.00o Sept 1 1935
g(MOO& $1,000).guar c _ tf Int. at Irving Nat. Bank. N. Y. City.
Bonds.
-Ch. Ott. & Peo. 1st M.bonds are guar., p. & L. by Western Rys
& Lt. Co. $1,500,000 are reserved for prior liens. They are subject to call
on any int. day on 30 days' notice at 105. Int. at Merchants' Bank of Canada in N. Y. City. Illinois Valley bonds have a sinking fund of 1Si% per
annum of amount out: mtnze. was originally 52.000,000. but on merger with
Chic. Ott. & Peoria the 5500.000 unissued was canceled; $616,500 (incl. in
amount outstanding) held in sinking fund. Bonds are guar., p. & I.. by
Western Rys. & Light, Portland (Me.) Trust Co. Is trustee. Are subject
to call at 105.
-Operates from Princeton. Ill., via Peru, La Salle, Utica, OtROAD.
tawa, Marseilles. Seneca and Morris to Joliet, about 117 in., with branches
from Spring Valley to Ladd and from Ottawa to Streator, 16 m.; total
about 123 in. Road from Morris to Joliet was placed in operation in Dec
1911; 108 cars; 3 lccomotives.-V. 97, p. 594; V. 107, p. 603; V. 108.1). 267,
(6) Consumers Water & Light Co.
ORGANIZATION, &c.-Incorp.in Illinois in 1913 to succeed the Marseilles Water & Light Co. (successor in 1910 to the Consol. Wat. & Lt. Co.)
STOCK AND BONDS- Date.
Interest. Outstanding. Maturity
Stock
$500.000
First & ref M $500.000
1913
6 J-D
75.000 Dec 1 1938
Consol W & Lt bonds (ntf)- -- ---30.000
5%
Dec 1925
(7) Danville Champaign & Decatur Ry. SC Light Co.
ORGANIZATION.-Incorp. in Maine May 14 1913. Is a holding
company and controls substantially all the electric, gas, street railway
and public-heating systems in Danville, Decatur, Champaign and Urbana.
Franchises covering gas, electric and heating, with few exceptions, extend
many years beyond 1938. Street railway franchises expire at various dates
before 1938. the laws of 111 me permitting long time street ry franchisee
In June 1922 sold $1,000,000 cons. & ref. coll. tr. 5% bonds, proceeds
being used for the most part to retire $650,000 8% cony. notes dated Aug. 1
1920 (called for payment July 15 1922). V. 115, P. 73.
STOCK AND BONDS- Date.
Interest. Outstanding.
iaturitts
Stock. $3,700,000 ($100)
--$3,688,000
Pref. 6% cum, guar ($100) •
6 Q-M
1.359.000
See text
Cons & ref coil tr $15.000.0001 1913 5 g M-S
4.957,000 Mar 1 1938
g 0*r.,red at 104 and int, Int. at Boston Safe Deposit & Trust Co
guar prin and interest_.. _ tf I Trustee. H. D. Heathfield also Trustee
Secured notes ($100 & $500)1 1921 7S6 g A-0
359,000 Apr 1 1926
guar gold
tflCentral Trust Co. of Ill., Chicago, Trustee.
Stock.-Pref. stock is red, as a whole at 110 and div. Cumulative utvs.
at the rate of 6% and also $100 a share in the event of Involuntary liquidation or dissolution (and $110 per share otherwise), are guar. by endorsement
by the Illinois Traction Co. V. 103. p. 406.
Bonds.
-Secured by all the stocks and bonds of constituent companies,
namely $2,360,000 Dec.Ry.& Lt.Co.Consol.& Ref.5s: $1,274.000 Urbana
& Champ. Consol. & Ref. debs.; $1,860,000 Danville St. Ry. & Lt.
Co.Consol. & Ref. 5s and $37,000 Urb. Lt. Ht. & Pow. Cons. & Ref. 55.
There are *1.994,000 underlying bends for payment of which a like ameunt
of consolidated and refunding bonds is reserved, $514,000 are pledged
to secure the 73i% notes and the remainder may be issued for additions and
Improvements to constituent companies under certain restrictions. They
are guar., p. & i., by Illinois Traction Co., as are also sub. co. bonds deposited under this mtge. All future issues of stocks and bonds by constit.
cos. must be pledged under above coll, trust issue. V. 96, p. 1422. Coupon
bonds in denom. of $1,000; regis. bonds $1,000. $5,000, $10,000 or multiples of $1,000.
Sinking fund will retire before maturity about 40% of total bonded debt,
incl. underlying bonds; $295,000 (not incl. in amt. outstanding) in sink. fd.
Notes.
-The 7Si% notes are guar., p. & I., by Illinois Trac. Co. Are
secured by $514,000 consol. & ref. 5s. Are call. at 103 & int .V. 113, p.847.
EARNINGS.
-Of constituent COS. 101
mos. ending Dec. 31 1921,
gross, $3,701,102: net, $1,234,173; interest. $343,926; denrec., $255.961:
bond discount. 814.332: surplus ... 0,9.54.-V. 103. n. 1980; V. 111, 1)•
. 5R
1369, 147; V. 113, p. 847; V. 114, p. 2717; V. 115, p. 73.
(a) Danville Street Railway 5c Light.
Controlled by Danville Champaign & Decatur Ry. & Light Co.
ORGANIZATION.
-Incorporated in Dec. 1899 as a consolidation of all
She street railway, electric light, gas and steam-heating interests.
-See Illinois Traction Co. above and V. 111. P. .588.
Rates.
STOCK AND BONDS- Date.
Interest. Outstanding. Maturity.
Stock, $1,500.000 ($100)
$1.438.000
Refunding mortgage, $700.- 1 1900
622,000 Jan 1 '23-'25
5 g J-J
gold ($1,000)
cs ttfInterest at N. W. Harris & Co.
Consol and ref debs, $7,500.- 1913
5 M-S
1,860,000 Mar 1 1938
000
tf Central Trust Co. of Ill.. Trustee.
Bonds.
-Ref. bonds are due $6.000 annually Jan. 1 1910 to 1924 inclusive
and remainder on Jan. 1 1925;$78.000 have been retired. Sinking fund of
116.000 per year began Jan. 1 1910. bonds being drawn (at par and accrued
int.) in numerical order, beginning with No. 1. Mortgage trustee is the
Illinois Trust & Savings Bank, Chicago. V. 70, p. 125. Of the consol. &
ref. debs. of 1913. $1,860,000 are deposited under D. C.& D. Ry. & Lt. M.
$622,000 are reserved to replace underlying bonds and $5,018.000 for cost
of new property.
-The company owns the following: 1. Gas
COMPANY'S PROPERTY.
works operated under special charter and a perpetual franchise. 2. An
electric-light plant is operated uncle a 99-year franchise: also has dynamos
for furnishing power to street railway. 3. The entire street railway system of the city, 16.37 miles of track, nearly all laid In brick pavement
running to three parks. the fair grounds, cemetery and railway depots and
National Soldiers Home. Equipped with 50. 60 and 70-1b. Johnson T rata
with 26 motor cars (General Electric) and 12 others. Furnishes electric
current at Westville, Georgetown, Ridgefarm, Indianola. Sidell and
Chrisman.
OFFICERS.
-Same as those for Danville Urbana & Champaign Rallwal
Co.
-V. 106. p. 85; V . 111, p. 588.
(b) Decatur Railway & Light Co.
Controlled by Danville Champaign & Decatur Ky. & Light Co.
-Incorporated in Illinois in Dec. 1903. to take over
ORGANIZATION.
the property of the Decatur Traction & Electric Co.. the Decatur Gas &
Electric Co. and the Decatur Steam Heating Co.. owning all the street rail
waY, gas and electric-lighting business and steam-heating plant in Decatut
and suburbs.
-See Illinois Traction Co., above.
Rates.
STOCK AND BONDS- Date. Interest. Outstanding. Maturity
$1.555,000
Stock. $1,555,000 ($100)----- ---See text
120,000
Decatur Gas & Electric Col 1899
5 M-N
tf(Int. at March. L. & Tr. Co., Chic.. Trustee
first mortgage
90.000 Jan 1 193(•
5 J-J
Decatur Gas & Elec Co 2d M 1 1899
5400.0001300,000reserved Interest at Merchants' Loan & Trust Co.
for above (S1.000), gold tf I Chicago. Trustee.
5g J-D
728,000 Dec 1 1933
Dec Ry & Lt Co 1st & cons MI 1903
$1.300,000,g ($1,000)_c*0 Int.01dCo1.Tr.Co.,Bos.,Tr..&agencyinN.Y.
2.360.000 Mar 1 1938
Dec Ry & Lt con & ref mtge 1913
5%
$7.500.000 (red at 105). tf Central Trust Goof 111., Trustee.
)3.000 Decatur Railway & Light Co. first and consols. are reBonds.
-$9served to retire an equal amount of prior liens as above. A sinking fund
of 10% of the net earnings, or not less than 1% of outstanding bonds. Is
to be invested in the bonds. Amount outstanding includes 5311,060 bonds
held in sinking fund. These bonds are subject to call at 107Si and int.




[170L. 115.

on any interest date upon 60 days' notice. Of the Decatur Gas & Electric
Co. 1st M. bonds, $15,000 were redeemed on May 15 [910 at 105 and a like
amount must be each year in numerical order. These bonds are subject to call at 105 and interest. The- eecond mortgage bonds of the Decatur Gas & Electric Co. are redeemable at any time at 105 and interests
but there is no sinking fund on these bonds. Of the Dec. fly. & Lt. consul.
& ref. bonds.82,360.000 are deposited under the Deny. Champ.& Dec. Ry.
& Lt. con sol. & ref. mtge. $953,000 are reserved to retire underlying
bonds and $4,187.000 for new construction.
ROAD.
-Operates about 15 miles standard-gauge road in Decatur and
-V. 112. p.652.
-lb. T rails. 35 motor cars & 4 others.
suburbs; 60 & 72
(c) Urbana & Champaign Railway. Gas & Electric Co.
Controlled by Danville Champaign & Decatur Ry. Sr Light Co.
ORGANIZATION.
-A consolidation in 1897 of Urbana & Champaign
Electric Street, Champaign Electric Light & Power. Champaign & Urbana
Gas Light & Coke and West End Park companies. Owns perpetual gas
and steam charter. The underlying railroad charter is also perpetual.
Franchise in 1901 extended for 20 years.
Rates.
-See Illinois Traction Co. above.
In Dec. 1921 was auth. by the Ill. Commerce Comm. to soli $49,000
consol. mtge. bonds. V. 113, p. 2820.
STOCK AND BONDS- Date.
Interest. Outstanding. Maturity.
Stock.$836.000
$836.000
Consol mortgage, $500,000 1899
354.000 July 1 1929
5 g J-J
($1,000, gold
c ntf Int. at Portland Tr.Co., Portland, Me-True
(1 & 0 Ely Ci & E consol and 1913
5 M-S
1,274.000 Mar 1 1938
ref debs $4,000.000
Central Trust Co.. Chicago, Trustee.
tf
Bonds.
-The consol. mtge. bonds are subject to call on any int. day at 105
Of the U.& C. Hy.. G.& E. consol. and ref. debs.,51.274.000 are deposited
under D. C. & D. Ry. & Lt. cons'''. & ref. M.. $351.000 are reserved
to retire other bonds and $2,372,000 for additions and improvements.
ROAD.
-Operates 12.60 miles of track in and between Champaign and
'thane. Has 32 motor cars and 5 others.
-V. 105. P. 2544; V. 109. D. 478.
(d) Urbana Light. Heat Ec Power Co.
Controls the electric lighting and steam-heating business o Urbana.
Entire stock is owned by Illinois Traction Co.
Rates.
-See Illinois Traction Co. above.
Interest. Outstanding. Maturity.
STOCK AND BONDS- Date.
stock 5185.000
5185.000
5 J-D
Second mortgage 5200.000 1909
See text.
82.000
01C:entre! Tr. Co. of ill., Trustee. Int. in Chic.
($1.000)
37.000 Mar 1 1938
Consolidated and refundingl 1913
5%
tffCentral Trust Co. of Illinois, Trustee.
mortgage
Bonds.
-2d M. bonds mature on Mar. 1 yearly from 1918 to 1927. They
are guar. by Illinois Traction Co. V. 89, p. 107. The entire outstanding
amount ($37,000) of consol & ref. bonds are deposited under Dans/. Chain.
& Dec. Ry. & Lt. mortgage.
OFFICERS.-Pres., W. B. McKinley; Sec. E. A. MacNutt: Treas.
Geo. M. Mattis; Gen..Mgr., II. E. Chubbucl.-V. 113, p. 2820.
(8) Danville Sc Eastern Illinois Ry.
Stock. $125,000. Temporary bonds to the amount of 550,000(5%) are
outstanding. due 1927.
(9) Danville Sc Southeastern Ry. CO.
-Incorporated in Illinois on Jan. 14 1909.
ORGANIZATION.
Outstanding. Maturity.
Interest.
Date
STOOK AND BONDSAll owned by Illinois Traction Co.
Stock
$60,000 July 1 1929
First mortgage $100,000 gold,( 1909 5 g J-J
41.000)
c&r tflInt. at Central Trust Co., Chicago. trustee.
Bonds.-Subject to call at 105 and int. on any int. date. Guaranteed.
p. & 1., by Illinois Traction Co.
ROAD.
-Operates 2.82 miles of road from1Danville City limits to Grape
Creek coal district. 70-1b. rails.
OFFICERS.-Sarne as those for Illinois Central Traction Co.
(10) Danville Urbana & Champaign Ry.
ORGANIZATION.
-Incorporated in Illinois under the railroad law on
July 28 1902. Owns the Danville Paxton & Northern Ry. Mostly private
right of way.
On Nov. 28 1917 the company issued $550,000 preferred stock.
STOCK AND BONDSDate. Interest. Outstanding. Maturity.
Common stock $250.000$250.000
Preferred stockS550,000_
_ _
550.000
First mortgage $2,000,0001 1903 5 gM-S2
,000.000 Mch. 1 1923
-gold $1,000) guaranteed Interest at Agency of Bank of Montreal,N.Y.
cs UNorthern Trust Co., Chicago, Trustee.
General mortgage bonds_tf 1910
700,000 Nov. 1930
6%
Bonds.
-The first 5s have no sink. fd., but are subj. to call on any int. date
upon 90 days' notice at 105 & int. The bonds are guar., p. & I., by end. by
Dans% St. Ry. & Lt. Co. and Urbana & Champaign Ky., Gas & Elec. Co.
V. 81. p. 264.
ROAD.
-Operates 76.16 miles of track over private right of way, connecting the cities of Danville, Urbana and Champaign, with branches from
Danville to Georgetown and Ridge Farm; Danville to Catlin and Ogden
to Homer. 70-1b. rails. Has 20 pass. cars. 23 express cars, 175 freight
cars. 11 locomotives and 7 miscellaneous cars.
OFFICERS.-Pres.. W. B. McKinley; Sec., E. A. MacNutt; Treas,
Geo. M. Mattis.
-V.83, p. 435; V. 84, p 33%; V. 88. P. 563; V. 106, p. 85.
-A holding company.
(11) Des Moines Sc Central Iowa Electric Co.
ORGANIZATION.
-Controls the Iowa subsidiary properties of the
Illinois Traction Co. which include the electric-light and power companies,
serving Des Moines:Oskaloosa, Colfax. Now Valley Junction, New Sharon.
Prairie City and Montezuma and the street railways in Oskaloosa. Controls the Des Moines Electric Co. and the Oskaloosa Traction & Light Co.
The bonds of this co. are secured by pledge of $965.000 gen. mtge, fi%
bonds of the Des Moines Elec. Co.(total out) and all the common and pref.
stock of the same co. Also .5206,000 gen. mtge. herds and all the stock of
the Oskaloosa Traction & Light Co. and bonds of various other cos, in an
aggregate amount of gnomnn
In April 1922 the Des Moines Elec. Co. sold $958,000 1st mtge. 5%
bonds to retire an issue of 7Si% coll. notes and to reimburse the co. for
additions already made. V. 114, p. 2019.
Interest. Outstanding. Maturity.
STOCK AND BONDS- Date.
Corn stk. SI ,000,000 ($100)--All owned or controlled by Illinois Trac. Ce.
_
do
do
do
Pref stock, $300.000_ _
tIn
6 g M-S
gk fd gold bonds.$10.000.000{ 1913
*1.831.000 Sept 1 1937
($500 & $1,000) red at 105 Interest at First National Bank, New York,
or the Central Trust Co. ofIllInoineTrustee.
& int guar p & I and s f by
end by Minnie Trac Co..c5(
1920 8 J-D
88,000 Dec 1 1925
Coll note S200,000
5 MI
3,571,000 Nov 1 1938
Ges Moines Elec 1st M $5.-1 1908
000.000 ($1.000) s f_ _ _ _tfl Interest at American Trust Co.. Boston.
6%
965,000 Sept. 1 1937
Des Moines Elec. gen. & ref. _-__
mtge. $6,000,000
201,000 Jan 1 1923
5 13 J-J
& Lt Co bds $300,000 1903
Isk
($1,000) gold sink fund..cslInt. at U.S. Mtge.& Trust Co.. N. Y..Trus.
Bonds.-Addltional sinking fund gold bonds can only he Issued for 80%,
of the coat of Improvements, &c.. to the sub cos., and certain other restrictions. Annual sinking fund of 1t% of bonds out began Sept. 1914.
Des Moines Elec. Co. 1st M bonds are subject to call after Nov. 1 1914
at 10.5. Sinking fund, 1% of bonds Nov. 1 1914-21; 1% 1926-31:2%
1931-37. $263,000 retired by sink. fd. Oskaloosa Tr.& Light bonds have
sink. fd. of $5,000 to be delivered to trustees annually. V. 98, p. 839, 1536.
$132,000 bonds.
Notes.
-The $88,000 8% notes of the co. are secured byfor
12 mos. end.
-Of sub. cos. of the Dos M. & C. 1. K Co.
Earnings.
Dec. 31 1921: gross, $2,198,730; net, $906,678; int., 3277,826; surplus,
$628,852.
(12) Galesburg Railway. Lighting & Power Co.
ORGANIZATION.-Incorp.in Ill. Sept. 10 1913 and took over the Galesburg Ry. & Lt. Co., the Galesburg Gas & Mee Lt co., the Knoxville
Elec. Lt. & Pow. Co. and the Abingdon Lt. & Pow. Co. A now 20-year
railway franchise was granted the co. on March 14 1922. V. 114, p. 2579.
-See Ill. Trac. Co. above and V. 111, p. 588; V. 112, p. 460.
Rates.

OCT., 1922.]

ELECTRIC RAILWAYS

Interest. Outstanding. Maturity.
STOCK AND BONDS- Date.
23.474,300
Corn,. $4 000.000 ($100)----464.000
6%
$500,000
Preferred
1,075.500 Oct 1 1934
5 g J-D
Consol ref mtge, 15.000.0001 1916
N
($1,000) red at 105.__c*Srrf Int. at Merchants' Bank of Canada. 1 1926
300,000 Nov
'7 M-N
Bd sec notes guar $750.000- 1921
781,000
Oalesb Ry Ss Lt 1st cons
Bonds.-Suffielent consol. ref. mtge. bonds are reserved for prior liens
and remainder for additions, &c. Bonds are guar., p. & 1. by Western
April 1
Rys. it Light Co. Sinking fund retires 1 % of bonds outstanding consol.
of all underlying bonds not pledged under the
each year and 1
Colony
ref. mtge. Up to Oct. 11922, $229,000 had been retired. The Old prin. &
Trust Co., Boston, is trustee. Bond secured 7% notes are guar.
int. by Illinois Trac. Co. Are secured by deposit of $400,000 consol. ref. Ss.
-V.108, P. 268;
due 1934. Central Trust Co.of Illinois, Chicago, trustee.
V. 111, P. 588; V. 112, P. 460; V. 114, P. 2579; V. 115, P. 1320.
-A trolley road.
(13) Illinois Central Traction Co.
-Incorporated in Illinois in 1903 under general
ORGANIZATION.
Mostly private right of way
railroad laws.
Date. Interest. Outstanding. Maturity
STOCK AND BONDS$1,100,000
Common stock $1,100,000215.000
Preferred stock
1,469.000 Dec 1 1933
mtge, $2,000.000 ($1,-1 1903 5 g J-D
1st
f Int. at Old Colony Tr. Co.. Boston, trustee
000) gold, guar
1.000,000 1929 & 1931
Temporary general rnort ___tf __-- 5 & 6
-Are subject to call on any interest date on 60 days' notice at
Bonds.
107 and int. Are guaranteed. p. & 1., by Illinois Traction Co. V. 82.
Dec. 1
P. 804. A sinking fund of 10% of net earnings became operative in s.fd.
1908, but not to be less than 1% of bonds outstanding. $321.000 held
-Operates 45.5 miles of track from Decatur to Springfield, with
ROAD.
an extension from Buffalo to Mechanicsburg, 70-lb. rails. Has 12 pass.
cars,6 express cars, 171 freight cars, 4 electric locomotives and 2 misc. cars.
OFFICERS.-Pres., W. 13. McKinley; Sec., E. A. MacNutt; Treas.
Geo. M.Mattis; Gen. Mgr., M.E. Chubbuck.-V.84. p.339; V. 108,p.268.
(14) Jacksonville Railway Ss Light Co.
-Incorporated in Maine in Dec. 1905 and is a con.
ORGANIZATION.
eolidation of the Jacksonville Ely. Co. and the Jacksonville Gas Light &
Coke Co. Franchise perpetual.
-See Illinois Traction Co. above.
Rates.
Interest. Outstanding. Maturity•
STOCK AND BONDS- Date.
2100,000
Corn stock $500,000 ($100)
stock $123,000 outstand'g-All owned by Illinois Traction Co.
Pref
756,000 Jan 1 1931
5g
Jack Ry&bt 1st cons M.21.-1 1906
000,000,gu,g (21,000)0A(rentral Trust Co., Chicago, Trustee.1 1931
90,000 Jan
5 J-J
____
Jacksonv Gas Light & Coke
ntf Int. at Merchants' Loan & Tr. Co Chicago,
Co first mortgage
are reserved for prior
-Of the $1,000,000 1st consols, $90,000
Bonds.
liens. Are guar., p. & I., by Illinois Trac. Co. 2% of bonds out is payable
105. Int.
annually to a sinking fund. Are sub. to call on any int. date at 0. retired.at
Merchants' Bank of Canada, N. Y. $85.000 Jack. Gas L. &
also does electric lighting
ROAD.-Operates about 7.65 miles of track and
-V.95. ri•
and gas business in Jacksonville. 14 motor cars and 9 others.
1542; V.97. p. 1733. V. 99. 1748.
(15) Jefferson City Light. Heat & Power Co.
-Owns majority of stock of Jefferson City Bridge &
ORGANIZ'N, &C.
Transit Co. V.97, p. 1666. Supplies gas and electricity to Jefferson City,
Mo., and furnishes current for operation of the street railway. In Nov.
-year contract with city for street lighting. Has $200,000
1015 made a 9
common stock. $195,000 pref. stock, $200,000 1st M.5% bonds (cpt) due
May 1925 and $189.000 1st & ref. bonds outstanding.
(16) Madison County Light & Power Co.
Is a consolidation in 1906 of the Edwardsville Light & Power Co. and the
Granite City-Venice Electric Co. Supplies light and power to Edwards
wine, Granite City, Carlinville, Madison, Venice, Woodriver, Worden
East Alton and several smaller towns; also electric current to Livingston
and Williamson, and furnishes gas to Carlinville. Two of the principal
franchises are perpetual; none expires earlier than 1956, except the easement
under which the co. operates in Granite City, which expires in 1925. In
Dec. 1912 increased its stock from 1100.000 to $335,000. Common stock's
all owned or controlled by Illinois Traction Co.
-See Illinois Traction Co. above.
Rates.
tstanding. Maturity.
te
STOOK AND BONDSCommon stock. $335,000---- ----------------$335,000
128,000
Preferred stock
5 g J-D
718,000 Dec 1 1936
1st mtge $1.000.000 ($1,000){ 1906
cs tf Int. at agcy. Merchants'Bk.of Canada.N.Y
gold
Central Tr. Co. of Illinois. Chic., Trustee
51,700 Nov 1 1926
7 M-N
Bond secured notes $300,000__ 1921
-Remaining bonds are for exts. and add'ns. Sink, fund of 1 l.
Bonds.
previously certified began Oct. 11916; bonds retired to be canceled
of bonds
Guar. p. & I. (end.) by Illinois Traction Co Can be called on four week.'
notice on any int. day at 105. The $51,700 bd. sec. 7% notes are secured
by $69,000 1st Mtge. bonds.
1916.
1917.
1918.
1919.
1920.
Earns.Cal.Yrs. 1921.
Gross earnings__$593,114 $463,885 $352,749 $322,201 $258,646 $219,191
Net after taxes_ _$150,256 $151,351 $129,53[ 8114,083 $96,429 $85,599
29,860
27.200
31,700
31,083
31,098
Bond int., &c___ 36,365
Property.
-Reserve electric power plants in Edwardsville and Carlinville
a gas plant and gas-distributing system in the latter city; high-tension
transmission lines, sub-stations, &c. The company purchases, under a
contract extending until 1947, electricity generated in the power station
at Venice, controlled by the Illinois Traction Co.

25

-See Illinois Traction Co. above and V. 108, p. 2630; V. 110,
Rates.
p. 2658; V. 112, p. 470.
Interest. Outstanding. Maturity.
STOCK AND BON DS- Date.
$1.010.000
Corn. stock, $1,010.000
505.000
Preferred stock
2,244,000 See text.
5 g F-A
First & ref mtge. 13,600,000, 1906
.
c*tf Interest payable in New York.
gold ($1,000)
Feb 1926
5%
4eneral mortgage__ ______ - t 1909
315,000 Feb 1 1926
8 F-A
Refunding mtge $2,000,000_ _ _ 1921
Bonds.
-Of the $3,600,000 first and ref. bonds, $291,000 are reserved
for addit'ns and improvements at 75% of cost; $1.125,000 have been retired.
They are guaranteed, p. & 1., by endorsement by the Illinois Traction Co.
The bonds are secured by a first mortgage upon all properties and t ranchises of the Peoria Railway Co. now owned or hereafter acquired. The
trustee is the Illinois Trust & Savings Bank, Chicago, Ill. Remaining bonds mature on Feb. 1 as follows: $120,000 in 1923 $125,000 in 1924.
$130.000 in 1925, and the remaining 2750,000 in 1926 They are subject to
call on any int. date at 105 and int. See V.83, p. 38. 436; V. 89, P. 42;
V. 90, p. 560.
-Owns and operates 54 miles ofstandard-gauge track, 113 motor
ROAD.
cars,30 other cars. Also owns valuable property near the centre of city and
considerable other real estate,including several amusement parks, estimated
to be worth $500,000.-V. 101, p. 213; V. 108. p. 2630; V. 110, P. 2568
2658; V. 112, p. 470.
(19) Quincy Railway Co.
0RGANIZATION.-Incorp.in Illinois in 19.12 as successor to the Quincy
Horse Ely. & Carrying Co. V. 91, p. 1628.
Does entire (electric) street railway business in Quincy. Principal franchise is unlimited, granted in 1865, and exclusively for 50 years. Other
franchises mature from 1922 to 1937.
-See Illinois Traction Co„ above.
Rates.
Interest. Outstanding. Maturity.
STOCK AND BONDS- Date.
0
$1,067080:00000
Stock, $1.000,0
Feb. 1 1932
5%
tf 1912
Bonds, $1.500,000
52.000 Dec 1 1925
Bond secured notes S52,000_ __ 1920 8 J-D
400.000 Oct 1 1923
5%
Quincy Horse Ry. & 0. 001 1898
1Portland Trust Co., Trustee.
($550.000)
The bond secured 8% notes are secured by $79,000 1st Sr ref. bonds.
The Quincy Horse Ry. & Carrying Co. $400,000 5% bonds.originally
matured on Oct. 1 1918. but were extended for 5 years.
ROAD.
-Operates 22.85 miles of track; 51 cars; 25 ono-man cars were
delivered in September 1919.-V. 94, p. 1628.
(20) St. Louis Electric Bridge Co.
-Incorporated in Jan. 1907. Owns a bridge from
ORGANIZATION.
Salisbury Street, St. Louis. to Venice. ill. In April 1909 company increased capital stock from $2.500 to $1,000.000. V. 88. p. 946. Stock all
owned by Illinois Traction. For franchise provisions, see V.85, p. 100.
Construction was started In Oct. 1907 and bridge was formally opened
on Nov. 10 1910. V.85, p. 100: V.88. p. 946: V.91. p. 1328.
First mtge. gold(5%) auth.,$3,500,000 31.000itf; outstanding,$2,592.
000; date 1913; due Dec. 1 1929. E. Bentley Hamilton, Peoria, trustee
This mtge. replaced the old (temporary) mtge. of 1909. V. 98. p. 74.
(21) St. Louis Electric Terminal Railway Co.
Owns extensive freight and passenger terminal stations costing about
$5000,000; also valuable real estate and a 50-year franchise giving the Illinois Traction an outlet in St. Louis. Also owns and operates city cars over
about 18 miles of street railway in Madison, Granite City and Venice.
-See under Illinois Traction Co.
Fare Increase.
Maturity.
Interest. Outstanding.
STOCK AND BONDS- Date.
Illiois Traction Co.
ll
Common.$1,11
$1,000,000
Preferred 5%---------------------------1,724,000 Dec 1 1929
4-5 F-A
First mtge. 13.500.000, gold' 1909
($1,000). guar p & 1._ __tf(Int. at Merchants' Bk. of Canada. Montreal.
Bonds.-First M.(temp.) bonds are subject to call at par on any Interest
day. No sinking fund. They are guar., p. & 1., by Illinois Traction Co.
(22) St. Louis Springfield & Peoria RR.
-Incorporated In Illinois Dec. 1 1909 as a consolidaORGANIZATION.
tion of the St. Louis & Springfield Ely., the St. Louis & Staunton Ry.. the
Tri-City, Trac. Co. and the St. Louis & Northeastern Ry. Operates on
private r'ght of way except through cities and towns (about 17 miles), where
franchises extend to or beyond 1953. In 1911 acquired the Springfield
Belt Ry.
In 1912 acquired the Peoria Lincoln & Springf. Ry. Co., the Peoria Bloom
dr Champaign Trac. Ca., the Terminal Pow. Co. and the Springfield &
Northeastern Traction Co.(acquired Nov. 1 1913).
Has long-time contracts for use of bridge and terminals of St. Louis Electric Bridge Co. and 8t. Louis Electric Terminal Ry., enabling it to operate
Slrectly into St. Louis.
Fare Increase.
-See Illinois Tract,lon Co. above.
In Jan. 1922 the co. applied to the Ill. Commerce Comm. for auth. to
issue $2,272,000 1st & ref. mtge. 5% bonds. V. 114, p. 522.
Date. Interset. Outstanding. Maturity.
STOCK AND BONDS-3.572.0006000000
18.000,000
Common 16,000,000 ($100)
-------- ---$3,572.000 ($100) 5%
7.761,000 Dec 1 1939
let & ref mtge $15.000,000 g{ 1909
($1.000 coup & $1,000 or Illinois Trust & Say Bk, Chicago, trustee
multiples reg.)_-__cs&r* tf Interest in New York. Chicago or London.
451,000 Dec 1 1933
St Louis & Springfield 1st M 1903 5 g J-D
($1.000) s f gold guar c"'_tf Interest at City Trust Co., Boston, trustee.
1939
216.000
5%
StL Sp&P gen M S15.000.000tf
145,000 Dec 1 1936
5 g J-D
Springfield & Northeastern 1906
Traction 1st mtge 21,500.- Int. at agency Merch. Bank of Can., N. Y.
c51 Central Trust Co. of Illinois, Trustee.
000 (51,000) gold
280.000 Nov 11936
Peoria Bloomington & Cham 1906 5 g M-N
Trac 1st M $3,000,000 gold Int. at agency Merch. Bk. of Canada, N.Y.
c5 tfl Central Trust Co.. Chicago, Trustee.
($1,000)
Bonds.
-Of the 28,385,5.15 let & ref. bonds reserved for various purposes.
1145,000 are reserved for Springfield & Northeastern Traction Co. bonds,
$731.000 to retire prior liens. $216.000 to redeem a like amount of general
m ]rtgage bonds and $6.147.009 for 80% of cash cost of additions and extensions. The $6.337.000 and the $2 765,000 for redemption of gen. mtge.
bonds (total $9.269.000), excepting $500,000 (issuable at any time for 80%
of cost of add'ns & impts.) can be issued only when, for the Preceding 12
1
months, gross earnings have equaled five times and net earnings 1 4 times
the interest charge on all bonds outstanding and those proposed to be issued.
Redeemable at 105 on any Int. date. Bonds are unconditionally guar.,
p. & 1.. by Illinois Trac. Co. V. 90. p. 304; V. 95, p. 177. Are listed on
Chic. Stock Exch. St. Louis Sr Springfield 1st M. bonds are subj. to call
on any Int. date on 60 days' notice at 107 is & int. Are guar., p. & 1., by
Trac. Co.; $305,000 (not Incl. in outstanding amount) held in s. f.
Peoria Bloom. & Cham. Tr. 1st M. bonds are guar , p. Sr I., by Ill. Trac.
Co. They are subject to call on any interest date at 105 on 30 days' notice.
-Extends from Venice, opposite St. Louis, to Peoria and BloomROAD.
ington, with branches from Staunton to Hillsboro. Trackage, 210.49 miles;
main track. 10.10 miles belt line, 0.29 miles second track. 23.06 miles of sidings and turnouts and 7.59 miles of industrial tracks; total. 251.53 miles.
Standard gauge. Owns 64 passenger cars, 56 express cars, 488 freight cars
9 locomotives. 13 miscellaneous cars. V. 103, p. 1302; V. 114, p. 522.

-A trolley road.
(17) Northern Illinois Light & Traction Co.
-Incorporated in Illinois and was successor in July
ORGANIZATION.
1903 to the Ottawa Hy., Light & Power Co.,sol under foreclosure. Fran
chise perpetual for lighting and until 1930 for railway. Has contract for
city lighting. Western Rys. & Light Co. owns all the stock.
In Sept. 1913 increased stock from $250,000 to 2750,000. V. 97. p.729.
-See Illinois Traction Co. above.
Rates.
Maturiy
STOCK AND BONDS-- Date.
Interest. Outstanding.
Corn. stock, $750.000($100)$398,000
Preferred stock
216,000
First mtge. $1,200,000, gold' 903
*668,000 July 1 1923
1
5 g J-J
($500 and 111.000)._cs_Af 'Int. at American Tr. Co., Boston, Trustee.
1938
General M (11,000,000)-----174,000
6%
*All but $265,000 of these bonds are guar.. p. & L. by endorsement. by
Western Rys. & Light Co.
Bonds.
-No sinking fund and bonds cannot be called. Remaining bond.
are for 80% of cost of additions, extensions and new properties, under conservative restrictions.
Earnings.
-For year ending Dec. 3 1921, gross, $646,754; net, aft. tax.,
2141,966. In 1920, gross, $622,958; not, aft. taxes, $137,752.
ROAD AND PLANT.
-Operates 6.5 miles of line, covering the principal
streets of Ottawa, and runs out of the city to Ellis Park, a pleasure
resort on the Illinois River. Also has extensions from Ottawa to Chautau
(93) Topeka Railway & Light Co.
qua Park. Equipment, 8 motor and 3 other cars. Also does entire elecORGANIZATION.-Incorp. in Maine and owns the Topeka Ry. Co.
tric light and power business] in Ottawa and wholesales power to local (see below) and the Topeka Edison Co. (V. ?2, p. 730). These own and
utility companies in La Salle, Utica, Seneca Morris, and to the Chicago operate without competition the street railway, commercial electric light
Ottawa & Peoria Ry. At Marseilles owns a hydro-electric plant with steam and power and steam-heating properties in Topeka and Oakland. Kansas,
Population served (1920 State Census), about 50.000. Franchises, with
auxiliary, having a capacity of 8,000 h. p., and at La Salle has a 4,000 k. w
-V. 97. D. 729.
turbine generator with auxiliaries.
one minor exception, extend beyond Feb. 1 1933.
Interest. Outstanding. Maturity.
STOCK AND BONDS- Date.
(18) Peoria Railway Co.
-A trolley road.
$1,500.000
Common stock
-Incorporated under general railroad laws of Illinois Preferred stock
ORGANIZATION.
584.000
in 1906 and Is successor to the Central Railway Co. Has acquired, owns let lien & ref M 17.500.000 gl 1916 5 g F-A
1,511.000 Feb. 1 1933
and controls all street railway lines in Peoria and outlying suburbs of Avery
3100.2500,$1.000.&elc*&r5 flat. In N. Y.. New York Trust Co.. Trustee
Peoria. The entire stock is controlled by Bond secured notes $100,000.._ 1920 8 J-D
vine, Peoria Heights and East
32.000 Dec 1 1925
791.000 Sept. 1 1930
the Illinois Traction Co. Franchises in Peoria expire in 1926 and those in Topeka Edison Co mortgage!, 1905
5
adjoining districts in 1924.
tf fiat. at Coot.&Comm.Tr.&S.B Chic.. Trus,
$1,250.000
5 g J-J
1.010 000 Jan. 1 1930
-On Oct. 26 1911 the Illinois State Supreme Court Topeka Ry mtge (see that co)_ 1904
Favorable Decision.
Bonds.-The 1st lien and ref. bonds are secured by pledge of the entire
reversing the Circuit Court. held that the City Councils could not grant a
capital stocks and, excepting $1,831.000 underlying issues, all the bonds
franchise to the Peoria Ely. Term. Co. over streets to which the Peoria Ry
of the subsidiary cos. $1,331,000 are reserved to acquire or retire untie"already held a franchise. V. 93, p. 1535.




26

ELECTRIC RAILWAYS

[VOL. 115.

lying bonds, and remaining 54,152,000 may be issued to the extent of
ROAD,&c.
-Owns 10 miles from Mt. Pleasant (connecting by
of cost of additions and !rants. to the properties of the sub. cos.. but 80%
only Charleston) to Sullivan's Island and Isle of Palms, a pleasure ferry with
when annual net earnings are 1 4 times the annual int. charges. Incl. the the
resort on
2
Atlantic Coast, incl, land at Isle of Palms, ferry, power house on
bonds proposed and all underlying bonds held by public. They are guar
Sullivan's Island and sub-station at Mount Pleasant. &c. Owns and
p. & I.. by the III. Traction Co. and are red. all or part, on any int. date ates 19 pass.
operand 3 freight cars and 2 ferry boats.
at 105 and int. Sinking fund began Aug. 1 1917 of 1,
4% per ann. to
and incl. 1929 and 1% thereafter of the total amount of hoods outstanding
OFFICERS.-Pres.. .Tames Sottile; V.
-P. & Gen. Mgr.. I. Blank.
(incl. underlying bonds), less amounts paid on account of sink, fund. re- V. 96, p. 201. 862; V. 111. D. 692. 1082.
quirements of underlying mtges. (It is estimated 32% of the $3.250.000
outstanding bonds will thus be retired Feb. 1 1933.) $173,000 in sinking
fund Oct. 1 1922. Bonds in fund are held alive. The Topeka Edison
CHARLESTON, WEST VIRGINIA.
Co. bonds have a sink, fund of $15.000 per ann., payable Dec. 15 $195,000
have been retired. Beginning with the 2
-year period ending May 31 1918,
CHARLESTON INTERURBAN RR.
and during each 2
-year p nod thereafter, there mast be set aside for
ORGANIZATION.-Incorp. In 1909 with 5100.000 capital stock which
maintenance and depreciation an amount averaging 12% of the combined was increased
on Nov. 10 1914 to 51 .500.000 in part foe the purchase of
annual gross earnings of the subsidiary cos. V. 104. p. 74.
the Charleston Traction Co., a line from St. Aihans to South Charleston,
Notes.
-The 832,000 outstanding 8% bond secured notes are secured by taken over as
of that date, and In part ELS a stock dividend, all earnings since
$50,000 Topeka Ry. & Lt. bonds.
incorporation having gone into extensions and betterments.
EARNINGS.
-Year ending Dec. 31 1921, gross, $1.420.796; net, after
Lease.-Leases the Kanawha Valley Traction Co.(whose $500,000
taxes, $352,982; int., 5150.826. In 1920, gross, $1,322,713; net, after
stock is owned by the Ohio Valley Electric Ry.) for 99 years from capita
taxes, $256,294; int., $153.912.
Jan. 1
1910 at an annual rental beginning with 510.000 the first year and inPROPERTIES.
-39 miles of electric street railway, largely 70 to 79- b
creasing to s20.000 In 1916 and thereafter,
Trails; 51 double and single-truck motor cars, 28 trailers; power plant, gen- 1st M. bonds. Also leases tho Charleston and has assumed that company'.
& Dunbar Trac. Co. V.114,p.197
erating capacity. 5.893 h.p.; 255 miles of power and light-distributing lines
crunchIse of the Traction Co. in the city of Charleston expires in
and 8.300 meters; exhaust steam system for heating purposes; miscellaneous
interurban lines are operated almost entirely on private rights of 1954;
real estate.
-V. 104. D. 74.
way.
In Jan. 1922 application was made to the West Va, P. S. Comm.
for
(a) Topeka Railway Co.
-Controlled by Topeka Ry & Light Co.
authority to consolidate the Charleston
ORGANIZATION.-Incorp. under general railway laws of Kansas in ton Interurban By. The co. leases & Dunbar Trac.Co. with the Charles1892; in 1903 absorbed the Vinewood Park By.. and made a new mtge. for ent. See V. 114, p. 197, for details. the Charleston & Dunbar lines at pres81.250,000. On June 4 1903 obtained a new 30
-year franchise, running from
Fare Increase -In Aug. 1920, the co. was antis. by the W. Va. P. El •
that date, with the provision that $400.000 be expended within 3 years
on
the system. Also has secured franchises in perpetuity on county roads now Comm to increase fares from 6 to 7 cents with 4 tickets for 25 cents and 10
V Ill. p. 791
occupied, with privilege of hauling freight. City agrees never to reduce for 60 cents
In Feb. 1922 the co. brought out 3750.000 15-year 7% 1st M. coll, bonds,
rates to where company will earn less than 10% on stock. The city is
-year sec. 6% notes
receive 10% of earnings remaining after 10% has been earned. Upon to proceeds being used to retire $150.000 3
ex- 1922 and the balance to pay bank loans incurred for ext.due Mar. 15
piration of franchise city has the right to acquire the property, but not
and impts.
before. V. 76, p. 866. 1302. On June 26 1916 authorimi capital stock V. 114. p. 916.
was increased from 81.250.000 to 82 250.000. V 103.
STOCK AND BONDSp. 62.
Interest. Outstanding. Maturity
Date.
In Dec. 1917 the Kansas P. U. Comm. granted auth. to issue
581,001 Stock, 51.500.000 ($100)_____
51.500.000 See text.
let & ref. mtge. bonds for the purpose of paying off outstanding
7 g M-S
750,000 Mar 11937
and for extensions and betterments. 1577,000 were issued in obligations 1st M (closed) collateral bonds11922
Jan. 1919.
and $1.000)c*tf(Int. at Safe Deposit & Tr. Co., Balt., Trus.
($500
None since.
Kan Val Tr 1st M.52,000.0001 1906
5 g J-J
1.050,000 Jan 1 1946
Fares.
-In Sept. 1919 was auth. to charge a 6-cent fare. Compare
(51.000) gold ,
"
At(Int. at Fidelity Trust Co., Phila., Trustee
V. 107. p. 1005. Effective Aug. 16 1920 was auth. by the Kansas Industrial
Bonds.
-Payment of prin. and int. of the Kanawha Val, Trac. Co. bonds
Court to charge an s; cent fare V 111. n 794
has been assumed by the Charleston Interurban RR., $1,000,000 of the
In Oct. 1922 was auth. to issue 866,793 equip. trust notes. V.
115, p. 1633. bonds have been deposited as security for the 1st M. coll. 7%
bonds of the
STOCK AND tv N I rtiDate.
Interest. Outstanding
Charleston Interurban RR. The Charleston Interurban By. 1st coll.
Maturity
Stock, 22.250.000 ($100)41.250.000 f.p
bonds are secured by deposit of 51.000.000 1st M. 5s due 1916 (assumed)
First mtge. $1,250.000. gold! 1904
1,010.000 Jan 1 1930 of the Kanawha Valley Trac. Co. Are red, during the first 10 years, all
5g
($1,000)
c• tilint. at Cont.& Comm.Tr.& S.B..Chlc..Trus
or in part. at 107% and int., on any int. date on 60 days' notice; after
First & Refunding bonds_ ___ ) 1916
5%
See text. Feb 1 1933 Mar. 1 1932 are red. at 105 and int., the premium decreasing 1% per annum
)New York Trust Co., Trustee.
each year thereafter to maturity. Maryland and Pennsylvania taxes reBonds.-Remalning bonds are reserved for 80%
house and for betterments and additions. Subject of cost of new power- funded. V. 114. p. 916.
to call
EARNINGSGross
Net (after
Interest,
Balance,
$210.000 have been retired. A sinking fund began Jan. 1 at 10.5 and int
1910. which is Cal, YearEarnings.
Taxes).
Rents, &c.
rufficient to retire $15,000 per annum at 105 and interest. $197.000
Surplus.
bonds 1921
5891,296
$255,083
$115,070
of 1916 are deposited as collateral with the Topeka Ry. & Lt. Co.
$140,012
1920
913,086
296,919
114,374
182,574
EARNINGS.
-For the year ending Dee. 31 1921, gross, $612,350; net,
ROAD.
-Operates 43 miles of track between St. Albans and (labia
$142.977; int.. $62,600. In 1920, gross, $611,055; net, $96,662; int, $63,350
Creek. Line is to ha extended to Montgomery. about 10 miles further on.
ROAD.
-See Topeka Railway & Light Co. above.
70. 80 and 100
-lb. T and 122-lb. grooved rail. Standard gauge. 56 passenOFFICF.118.-Pres.. W B. McKinley, Champaign. Ill.: V.
ger cars (38 of P-A-Y-Ft type), 3 freight cars and 2 trailers. Power is ob-P.&
tained from the Virginian Power Co. under long-term contract.
Geo. M. Mattis, Champaign; Sec., E. A. MacNutt, Montreal. V.Treas
107, p.
1005; V. 108, p. 380; V. 111, p. 794; V. 113, p. 536, 1361; V.115, p.1633.
OFFICERS.-Pres., W. A. MacCoricle; V.-Pres., F. M. Staunton; Sec.
& Tress., A. M. Hill; Gen. Mgr., I. N. Smith.
(24) Wichita Railroad & Light.
-V. 105, p. 1208: V.
-Trolley.
ORGANIZATION.
-Chartered May 1 1900 for 30 years. Street rail- 1125; V. 108, p. 1164; V. 111, p. 791; V. 113, p. 291; V. 114, p. 197, 106, P•
916.
way franchise expires 1933. In 1910 entered into a 20
-year contract for
purchase of power from Kansas Gas & Elec. Co.
STOCK AND BONDS- Date.
Interest. Outstanding. Maturity.
CHARLOTTE, N. C.
Com stock, 161,500.000 (3100)- ---$300,000
Pref. stock (2100)
SOUTHERN PUBLIC UTILITIES CO.
300,000
Ref.& cons.M.,151.500.000.g tf 1907
Allied with the Southern Power Co.. which see in our "Railway and in.
5 g A-0
1,493.000 Oct 1 1932
Bonds.-lst M. bonds are subject to call at 105 on 6 months' notice.
dustrial" Section
ROAD.
-Owns 32 miles of trolley track in
double-track bridge over the Arkansas River and Wichita, Kan., including of ORGANIZATION.-Incorp. In July 1913 in Maine as a consolidation
extensions to Wonderland
the Charlotte Electr.c By., Charlotte Gas & Electric
Park and Fair Grounds; 107 cars.
-V. 93. D. 941. 1192.
Power Co. (these three forming prior to Jan. 1 1911. the Co. and Charlotte
Charlotte Electric
By.. Light & Power Co . which company issued the bonds shown in the
t..hle.-See "Electric Ry." Sec for Ntay 101.5). Greenville (S C.) Gas
&
CHARLESTON, S. C.
Electric Light & Power Co.; Greenville Traction Co.; Greenville Carolina
CHARLESTON CONSOLIDATED RAILWAY 5c LIGHTING)
Power Co.; Fries Mfg. & Power Co., Winston-Salem, N. O.; Winston-Salem
CO
Power Co.; Anderson (S. C.) Water, Light & Power Co., Chester (S.
ORGANIZATION.
-Incorporated in South Carolina on April 19 1910
0.)
Power Co., Thomasville (N. 0.) Power Co.. Greer (S. C.) Light & Power
Leases for a period of 99 years from Jan 1 1910 the Charleston Cons.
Gas & Elec. Co. Lease guar. 6% on pref. and 4% to July 1 1911, By, Co.. Thornton Light & Power Co.,(Hickory. N. C.) and City of Reidsville
57 to Light & Power Plant, Reidsville,
Jan. 1 1913 and 6% thereafter on corn. stock; also int on outstanding
N. C. The Charlotte Elec.
May
1915. through an amendment to its charter, reduced its capitalBy. In from
bonds of the Char. Cons. Ry., Gas & Elec. Co. and Charleston
stock
City Ry. $1.250.000 to $1.000.
Co.
Franchises with one minor exception are either unlimited in time or run
Fares.
-On Nov. 12 1919 a 7
-cent fare was put into effect. See also
beyond July 1913.
V. 113, p. 530.
Fare Increase.
-In Aug. 1918 was auth. by the North Carolina CorporaSTOCKPar. Authorized. Outstanding, Dividends
tion Comm. to increase Parer from 5 to 7 cents on lines in Charlotte and
Common
$50 $3,000,000 $1.500,000
None
Winston-Salem. V. 107. p. 502. The city of Charlotte appealed from this
Preferred
50
1,500.000
500,000
None
order of the Comm. but the North Carolina Supreme Court in Dec.
OFFICERS.-Pres., P. II. Gadsden; VaP., Stuart Cooper; V.
-P., Lewis affirmed the decision of the Mecklenburg Superior Court permitting1919
the
Lillie; V.
-P., Jas. T. Hutchings; V.
-P., T. W. Passallaigue; Sec., G. W. company to charge 7 cents. V. 110, p. 79. In Sept. 1918
the municipalities
Curran; Treas.. I. W. Morris.
-V. 106. p. 2227: V. 108, P. 877; V. 109, of Greenville and Anderson, S. C., also auth. an increase in fares
from
p. 2355; V. 110. p. 1642; V. 113, p. 533; V. 115, P• 987.
5 to 7 cents (or 4 tickets for 25c.), effective Oct. 1 1918.
(1) Charleston Consolidated Ry.. Use & Electric Co.
STOCK AND BONDS- Date.
Interest. Outstanding, Maturity.
ORGANIZATION.
-Organized Feb. 21 1899 AS a consolidation of the Stock $7 500,000 (8100)
5g
Charleston City By. and Charleston & Seashore RR. under Special Act of 1st & ref M 430,000.000 gold) Iola
48148 ;0 0 July 1 1943
4 250 0
7 0
($1.00035.000.&c.)c*&r*.tflint. at Farmers' L.& Tr. Co • N Y.. Trustee
So. Car. Legislature, granting perpetual charter and gas & elec. light powers
In Oct. 1912 sold to James Sottile the Seashore division. Incl. wharf prop
STOCK AND BONDSDate.
Interest. Outstanding. Maturity.
erties, ferryboats. the railroad line from Mt. Pleasant to the Isle of Palms
Underlying Bonds
with its equipment, and the power house on Sullivan Island. Sale was auth
Char Elec By. L & P 1st MI 1899
5 g .T-J
$237.000 July 1 1929
by an Act of the Legislature approved Feb. 12 1913 and formal transfer
$500.000 g (31.000)sf c•ntf Int. at Mere. Tr.& Dep. Co Bait., Trustee.
was made Mar. 15 1913. V. 96, P. 862. See Charleston-Isle of Palms Char Elec Ry. L & P ref & ext 1906
.5 4-0
432.000 April 1 1936
Traction Co. below.
M 42.000.000 g(Si.000)c•tf(Int. at Mere. Tr.& Dep Co., Bait..Trustee.
Franchises are perpetual. Also owns the capital stock of the Charleston Fries Mfg & P 1st M goldl 1900
5 g J-J
437.000 Jan 1 1940
Gas Light Co. ($698.150) and the Charleston-Edison Light & Power Co
(51.000) optional at 110___ lint. at Equitable Tr. Co.. N. Y.. trustee
($100.000). and thus controls the whole field of light and transportation Winston-Salem Power Co_
46.000 Jan 1 1936
in Charleston. V. 92. p. 880.
Bonds of Controlled. &c.. Cos.Greenv-Caro Power 1st M 1;1 1905
5 g M-N
213,000 May 1 1935
STOCK AND BONDS- Date.
Interest. Outstanding.
Maturity
($1.000)
tf f Int. at Old Colony Tr. Co.. Boston, trustee
Stock, corn, $5.000.000 ($50)- -__4,877,800 See text.
Q-J
Bonds.
-Of the 1st and ref. bonds. 51.567.500 are reserved for prior liens;
Pref 6% cum, 2500,000 (4.50)- ___500,000 See text.
Q-J
Charleston City first mtge 1898
5 g .I-J
680.000 Jan 1 1923 remainder issuable for 70% of cost of extensions and acquisition of other
properties. Redeemable in whole or in part at 105 and Interest. The
($1.000). 3850,000 goidctf Int. at Mere. Tr.& S. D. Co-Balt.
°ousel mtge, gold. $2.500.- 1899
5 g M-S
1.734.000 Mar 1 1999 Charlotte Electric By.. Light & Power 1st M. bonds have a sinking fund,
000. coupon ($1,000)-5tf Interest at Baltimore Trust Co., Trustee operative July 1 1900, of 1% of bonds out; to be invested in bonds drawn
Holders can also collect coupons at Carolina Savings Bank and People'e by lot at 107ti and int., if not obtainable at lower figure in open market;
873 ono have been canceled. The ref. and ext. mtge. bonds have a sinking
National Bank. Charleston. f presented before the 10th of the month
rued operative April 1907 of 1% of bonds issued, for purchase of bonds at
Bonds.
-Of the consolidated 5s. $60,000 are reserved to retire a like
t and int., if obtainable; otherwise, such investments as trustee deems
amount of City By. first 5s. Charleston City 1st 5s have a sink, fund of 107
proper. V. 88. p. 1252. 8.53,000 have been retired. A sinking fund of
not exceeding 57.350 per ann. for the purchase or redemption of said bonds 1% on the Greenville-Carolina Power Co.
bonds began May 1 1910.
at 105 and interest.
EARNINGS.
-For years ending Dec. 31:
Dividends.
-See dividends guaranteed under lease above.
YearGross. Net aft. Taxes. Denrec.
Bond Int.
Bal., Sur.
-Owns 39.91 miles of electric road in Charleston. The com- 1921
$3,768,601 $1,153.476
ROAD.&c.
$210,000
8313,530
8599,946
pany has consolidated its two power stations; both railway and light and 1920
3,621,796
1,149,992
240,000
315.110
594,882
Latest Earnings-Years end. Juno 30:
power divisions are being operated from same station.
$240,000
8308,676
$707,146
OFFICERS.-Pres., Philip H. Gadsden, Phila., Pa.; V.
-P., Theo. W. 1921-22 -.33,911,616 81,255,822
1920-21 _-_- 3,753,751
1,105,913
210,000
315.110
550,833
Passailaigue Sec. & Treas., Chas. J. Bendt; A.sst. Sec.-Treas., M. 0. 0.
PROPERTY.
-Operates 70 miles of street railway; 60. 70 and 90-lb. T
Tessier, Charleston. Offices, No.141 Meeting St., Charleston.
-V.112, p.
and girder rails; gauge, 4 ft. 8% in. Power and light primary lines aggre371.848
gating 1.644 miles and serving 16 communities; 2 gas plants, serving Charlotte and Greenville with 87.5 miles of mains; water plant serving Anderson
CHARLESTON-ISLE OF PALMS TRACTION CO.
ORGANIZATION.-Incorp. In S. C. Jan. 9 1913 with auth. capital of with 26 miles of mains. Leases Savannah Power Co. s plant near Anderson;
$1.000,000, to build railroads, steam or electric, street railways. &c.. lapacity. 3.000 h.p. Total capacity of plants operated. 24,000 h.p., of
operate steamboats, and to take over what was formerly the Seashore which 19.000 h.p. is hydro-electric generation. Also has favorable condivision of the Charleston Consol. By., Gas & El. Co. Also does electric' tract with Southern Power Co. for the purchase of additional power.
lighting business.
OFFICERS.-Pres.. E. 0. Marshall; V.
-P., A. V. Harrill; Sec., W. 0.
Fare Increase.
-In Sept., 1920. the co. was aeth. by the S C. RR. Parker; Asst. Sec.. L. H. Adams; Treas.. D. G. Calder; Asst. Trawl.. R. E.
Comm. to charge 5 cents per mile. V. 111, p. 1082.
L. Graham.
-V. 112. p. 2314; V. 113, p. 77; V. 114. p. 1072. 1892.




OCT., 1922.1

ELECTRIC RAILWAYS

27

this ordinance and the agreement the ownership of the properties remains
entirely separate and distinct, the combined earnings are divided upon an
agreed basis. For the two years ending Jan. 31 1916 the Chicago Railways
Co. received as its share 59% of the income remaining after the payment of all operating expenses, including taxes and maintenance, the other
41% of the income going to the Chicago City Ry. Co., includinr, the
Calumet & South Chicago Ry. and the Southern Street Ry., and, beginning with Feb. 1 1916 and until the expiration of its franchise in 1927. the
Chicago Railways Co. will receive 60% of the so-called "residue receipts."
and the Chicago City Ry. (including the Calumet & South Chitago and
-cent fare
the Southern Street Ry.), 40%. The plan provided for a 5
throughout the city on surface lines, also through routing of cars from one
division of the city to another. See details of the ordinance and the
agreement for unified operations under date of Dec. 1 1913 in V. 98. p
1693. An order permitting the State Attorney to file quo warranto proceedings to question the legality of unification ordinance was denied in
March 1915. V. 100. p. 1078.
-See V. 108.
Statement Showing Shrinkage in Market Value of Securities.
P. 1822.
-See remarks under
Ordinance to Unite Surface and Elevated Lines.
Chicago Elevated Railways.
-See V. 112, p. 61; V. 114, p. 301, 1406, 1532;
Proposed Subway System.
V. 115. p. 1631.
-See under "Chicago Elevated Rys."
Application to Carry Freight.
-On April 19 1917 the Ill. Supreme Court upheld the right of
Decision.
the State Public Utilities Comm. to regulate street car service in Chicago
regardless of the provisions of the contract ordinances of 1907 between the
Chicago City Council and the surface lines. Pursuant to this opinion a
decree was entered by the Circuit Court of Cook County in favor or the
Comm.. which was affirmed by the Ill. Supreme Court. An appeal was
taken to the U. S. Supreme Court which held that the decision of the Illinois
Supreme Court was conclusive. See also V. 113. p. 2311.
Fares.
-Effective Dec.27 1919 the Illinois P.U. Comm.ordered the com-cent cash fare basis. Effective July_ 1 1920 the
panies put on a straight 6
-cent fare. V.1114 p.73.
companies were auth. by the Comm. tocharge an 8
On Nov.8 1920 the P. U. Comm.. made this order permanent and fixed the
valuation of the lines as of April 30 1920 at $159.113.1k. The Commission
also found that the companies were entitled to earn a return of approximately
CHARLOTTESVILLE, VA.
7.5% on the value of the properties; for details see V. Ill, p. 1949. 2040.
See also V. 113, p. 291, 2311. On Jan. 9 1922 the U. S. Dist. Court at
CHARLOTTESVILLE & ALBEMARLE RY.
restraining the Ill. Commerce
-Organized in Virginia and formed by an agreement Chicago entered on interlocutory injunction 114. p. 197. 304. 625. 1285.
ORGANIZATION.
-cent fare. V.
dated Nov. 24 1913 between the Redland Power Corpora- Comm. from enforcing a 5however, ordered a reduction in fare4 wo 6 cus.
of consolidation
Ry. A lighting and power com- Tne .11. Commerce Comm.,
tion and the Charlottesville & Albemarle adjunct. Light and power frail- effective May 1 1922. V. 114, p. 1650, 1764. A temporary injunction
pany with a short interurban railway as an
-cent rate was issued by Federal Judges Evans Geiger and Page.
while city fran- against the 6
chises are perpetual; County Ry. franchises are perpetual,
'
V. 114. p. 2011. The injunction was conditioned upon the company rechise expires in 1944.
ducing its fares, not later than June 15 1922, from £3 to 7 cents cash or
-On Apr. 16 1918 was auth. by the Va. Corporation Comm. 3 tickets for 20 cents. V. 114, p. 2468.
Increase.
Fare
and to increase children's tickets
-for-a-quarter tickets
to eliminate the 6
-On Nov. 11 1919 the City Council unanimously
City Operation Approved.
from 2% cents to 3 cents. V. 106. p. 1688. was auth. to raise or lower approved the Mayor's plan for condemnation of the surface lines and their
-Effective Sept. 13 1920, the company
Rates.
-cent basis by or on behalf of the city. For further details
operation on a 5
of coal.
rates for electric service based on the price
p.
p.
Outstanding. Maturity. see V. 109, p. 1891; V. 112, p.2304; but compare V. 112, 1739; V. 113,
STOCK AND BONDS- Date. Interest.
See text 70.
$500.000
Common stock $500,000(4100)
Refusal of City to Accept Share of Profits. See V. 112. p. 1739; compare
122.700 June'22.3
J-D
Pref stk 7%cumS200.000($100) _ _ _ _
407.000 April 1 1943 V. 113, p. 70.-In
July 1921 the city filed suit in the Municipal Court for
Suit by City.
First mortgage $750.000 gold 1 1915 6 g A-0 in Baltimore. Md.
c*cpt(Interest payable
41.0001
$3.500,000, against the company, which the city claims is due for the use
bonds may be issued only for 85% of cost of Impts. and occupation of the streets.(V. 113, p. 70). but compare V. 112. p. 1739
-Additional
Bonds.
past 12 months are equal to
and exts. and only when net earnings for the
-Of entire system for years ending Jan. 31:
REPORT.
and those to be issued.
twice the interest charges on the bonds outstanding out of gross earnings Year ending
Residue -Of Which to
Operating
Gross
is provided
A special depreciation and reserve fund amount outstanding) are held in
Receipts. Chit. C.Ry.. Chic. Eye.,
Expenses.
Jan. 31- Earnings.
for maint.. &c. $30.000 (not incl. In days' notice. V. 100. p. 1436
$60.343,733 46.516,150 $13,827,583 $5,531,033 $8,296.550
1921-22
Red. at 105 and int. on 60
the treasury.
55.327,385 43,300,393 12,026.992 4.810.797 7,216.195
-7% per ann. is being paid on pref. stock. On common first 1920-21
Dividends.
43,963,438 33,254.015 10,709.423 4,283.769 6.425.654
1919-20
1916 paid
div. of 2% and 1% extra paid in June 1916. In Dec. 1919.5%. 24%
None
Board of Operation.-Ohairman Henry A. Blair Leonard A. Busby,
Dec.,2%. In 1918. Dec.,1%. In
In 1917.June.24%;
In F H Rawson, Wallace Heckman, Harrison B. Riley. John M. Roach,
to Dec. 1920, when 3% was paid. In 1921, June, 3%; Dec., 4%.
Frank 0. Wetmore.
1922, June, 4%•
-Chairman, Henry A. Blair; Leonard A. Busby and
Executive Committee.
-For years ending Dec. 31:
EARNINGS.
Chgs.
Pref. Div. Surplus. Wallace Heckman,
Other Inc.
Net.
Gross.
Year$72.598
$8,589
$37.634
$1.426
OFFICERS.-Pres., H. A. Blair; Sec., F. L. Hupp; Treas. M. B.
1921___$236.557 $117.395
44,021 Orde; Gen. Aud., Jno. J. Duck.
8.589
35.499
634
87,475
'
-V. 114, p. 519, 625, 1285. 1532, 1650,
1920-__ 198.229
32.908 1764, 2011, 2468; V. 115, p. 307, 644, 759, 988, 1631.
8,589
33,115
761
73.851
1919-__ 153,011
-Miles of track, 3.45; standard gauge. Rails, 83 and 97-lb.
ROAD.
-A collateral trust.
R VS.
CHICAGO CITY & CONNEC I
-lb. T. 9 cars. 1 power station. 1 sub-station.
girder and 50
-See "Chicago Elevated
.
Ordinance to Unite Surface and Elevated Lines.
-Chairman of Board, Norman James; Pres.John L
OFFICERS.
Rys.' below.
Livers; V.-Pres., Henry Lay Duer; Gen. Mgr., C. L. Carter; Sec'. & Treas..
Formed in 1910 under a trust agreement, to take over the stock of the
-V. 103. p. 2428; V. 106. P:
W. R. Morton; Asst. Treas., N. D Wood.
Chicago City Ry.. together with the securities of the Calumet & South
606. 1688. 2289.
Chicago Ry.. the Southern Street Railway. the Hammond Whiting & Bad
Chicago Ry. and the Chicago & Western. These properties comprise apCHICAGO. ILL.
proximately 512 miles of street railway in southern division of Chicago
and vicinity. See outline of plan in V. 90. p. 558. 625. Trustee, Chicago
-A holding co.
CHICAGO AURORA & ELGIN CORPORATION.
Title & Trust Co.
ORGANIZATION.-Incorp. in Delaware June 12 1922 to take title
On April 19 1913 the Ill. Supreme Court affirmed the decision of the
under the reorganization (see plan in V. 114, p. 736, 1177) of the old Aurora Superior Court of Cook County in the suit brought by Clarence H. Venner,
Railway" Supplement of which held valid the agreement dated Jan. 1 1910. creating the Chicago
,
Elgin & Chicago RR. (for hi tory see "Electric
April 29 1922) to certain small interests and stocks which cannot properly City and Connecting Rys. Collateral Trust (V. 96. p. 1364. 1627). An
be held by the Chicago Aurora & Elgin RR., the operating company. appeal was taken to the U. S. Supreme Court. but in Nov. 1914 suit was
Owns the entire common stock of the Chicago Aurora & Elgin RR., which dismissed. See "Chic. City Ry. in V. 99. p. 1527.
see below.
Maturit•
STOOK AND BONDS- Dale. Interest. ()distending.
Interest. Outstanding. Maturity.
STOCKS AND BONDS- Date.
See text.
s-a
150,000 stn.
Corn part certs 150,000 shares_ ____
27,500v.t.c.
Common (no par) 27,500 shs_
250.000 shs.
See text
s-a
1 1972 Pref part certs 250,000 shares_
6,000,000 April
See text
Debenture bonds $6,000,000__ 1922
Jan 1 1927
Coll trust mtge *22,000,0001 1910 5 A-0 $21,036,000
-Common stock is to be hold in a voting trust for three years.
Stock.
gold sinking fund c*Strstf(Int. at 1st Tr.&S.B.Chic.. True.. or in N.Y.
Bonds.-Int. on the debenture bonds accrues at 6% per annum after
-Preferred participation shares have no par
Participation Certificates.
If the net
June 1924 and is payable out of the net profits of the corp.
per ann., value but are entitled to preferential cum. divs. aggregating $4.50; also,
Income in any year is not sufficient to pay int. at the rate of 6%is payable after com. panic. shares shall have received $4 In any year the remaining
such int. remaining unpaid is to accrue,and the accrued deficiency pay int. surpius not exceeding in any year 81.000.000. shall be paid ratably. % to
before any div. may be paid on the common stock, but failure to p. 736. pref. and 4 to corn., butt n no case will the pref. certfs. be entitled to more
shall not constitute a default. Red. at 102% and hit. V. 114,
than $7 each per annum; also have preference upon distribution of trust
1177, 2716; V. 115, p. 1837.
fund to the amount of $100 each and accumulated dividends. Listed on
Chicago Stock Exchange. In July 1918 the div. due on the pref, partic,
(1) Chicago Aurora & Elgin RR.
All the common stock of the co. Is held by the Chicago Aurora & Elgin carts. was deferred. Not paid to Oct 1 1922.
see above.
-Coupon bonds in denoni. of $1,000; registered bonds E1.000 or
Bonds.
Corp., which
-Organized early in 1922 in Illinois to take title in multiples. A sink, fund of 5105.000 of bonds p a. began Mar. 1 1915.
ORGANIZATION.
f
reorganization (see plan in V. 114. p. 736, 1177) to most oldthe properties Bonds are redeem. for the S. f., or as a whole, at 105 and int. $964,000 reAurora Elgin deemed as of Oct 11922. In case of purchase of property of the Chicago
franchises of the so-called Third Rail Division of the
and & Chicago RR.(for history see "Electric Ry." Supplement of Apr. 29 1922)• City Ry. by City of Chicago, or termination of trust agreement of Jan. 1
Interest. Outstanding. Maturity. 1910, then bonds are redeemable at par and accrued int. See V. 90, p. 558,
STOCK AND BONDS- Date.
___ All owned by Chic. Aurora & Elgin Corp. 525. Bonds are listed on N.Y.and Chicago stock exchanges. V.94.p.1118
Common stock_ _
$1.050,000 April 1 1947
Ref & impt 7% E50.000,000--_ 1922 7%
Stocks and Bonds Deposited to Secure the Coll. Tr. Bonds.
5 g A-0 15 2,386,000 Apr 15 1941
A E & t Ry first mortgage( 1901
a Bonds (par)
Stocks (par).
Trus.
$3,000,000 ($1,000), gold;Cont. & Comm.Tr. & Say. Bk., Chic.,York. Chic.City Ry.
None
816.971.900
Li'[Interest payable in Chicago and New
cannot be called
*10.000.000
Calumet & Sopth Chicago By
*2.400,000
-The ref. & impt. 7% bonds are red. at 101 and int. on any int. Southern Street Ry
Bonds.
*1.000,000
*1.000.000 1st
date. On the Aurora Elgin & Chicago Ry. bonds a sinking fund of $50,000 Hammond Whiting & East Chic. Ry
072,000
per annum began on April 15 1911. See V. 74, p. 726. $614,000 have Chicago & Western
been retired.
a railroad, operated by electricity, with
-Consists of
$1.000.000
$30.443.900
Total
PROPERTY. &c.
* Entire issue.
over 102 miles of track, serving and connecting Chicago, Maywood, BellWheaton, Aurora.,
a Under provisions of the trust mortgage these respective issue of bonds
wood, Ardmore, Elmhurst, Lombard, Glen Ellyn, electric light and Elgin,
Also has
power each as an entirety may be converted into capital stock of the respective
Batavia, West Chicago and Geneva.
companies to an equal amount.
properties in Ardmore and West. Chicago. V.
-P.
-On pref. part. ctfs. $2.25 per share was paid semi-an,
Dividends.
OFFICERS.-Pres., Thomas Conway Jr.; -P., Edwin C. Faber; V.
& Gem Mgr., J. H. McClure; Treas., Gordon B. Anderson; Sec., W. D. from June 1910 to and incl. July 1914. In 1915, $2 50. In 1916. $1 75.
Turner; Asst. Sec., Alfred E. Pfahler.-V. 114, p. 2716; V. 115, 13. 307. In 1917. Jan., 22 25 (V. 104, p. 72): July, El 50. In 1918. Jan.. $1 50.
None since; V. 106, p. 2755; V. 108, p. 77. On common participating ctfs.
868, 988, 1320, 1837.
$1 per share was paid semi-annually from June 1910 to and including
AURORA ELGIN & FOX RIVER ELECTRIC CO.
July 1912. None since.
to have been incorporated in
-Was reported
ORGANIZATION, &O.
-For calendar year 1921 (V. 114, p. 624):
REPORT.
and operating the Fox River Valley
Bond Other Divs.on Burp.
Bond
Income
Dec. 1921 for the purpose of taking over old Aurora Elgin & Chicago RR. Cal.
of the
Gross. Interest. Redemp. Ded. Part.Shs.Yr Inc.
Other.
Divs.
and the Aurora and Elgin city lines Supplement of April 29 1922). The
$
$
$
$
$
$
$
(for history see 'Electric Railway" Chicago Aurora & Elgin Corp. above)
$
Division" (see
128,474 1,418,988 1,057.050 105.000 48.983 None 207,954
so-called "Third Rail
in V. 114, P. 736. 1177. No further 1921_1,290.514 125,989 1,442.503 1,062,300 105.000 80,570 None 194,633
1920_1.316,514
was reorganized as per plan outlined
1919_1,170,635 116.815 1,287,450 1,067,550 105,000 64.133 None 50,767
information.
Committee.-01mirman, Harrison B. Riley, S. M. Felton, James B. ForCHICAGO SURFACE LINES. Lines the properties of the Chicago gan, John J. Mitchell, Samuel Insull, John A Spoor. B. E. Sunny, Frank
Under the title of Chicago SurfaceRailway Co. are now being operated 0. Wetmore and L. A. Busby. V.110, p.167; V.112, p.253.
Railways Co. and the Chicago City a joint board of operation in accord-Sec. & Treas. H. J. Tansley.-V. 108. p. 1164;3 V. 109,
OFFICERS.
of
p. 253. 371, 1230; V. 11, p. 580;
'
as a single system under the control
the two companies and the unification p. 1079; V. 110, p. 167. 359, 560; V. 112.
ance with an agreement between Feb. 1 1914. While under the terms of Sr. 114, p. 304, 408, 624.
ordinance which became effective

PIEDMONT & NORTHERN RV.
and on
ORGANIZATION.-Incorp. on Feb. 24 1911 in South Carolina.
of the Piedmont Traction Co.
or about July 1 1914 took over the properties Ry. Co.
Spartanburg & Anderson
and the Greenville
control
-This property came under Government private
Government Control.
reverted to
under the President's proclamation of Dec. 28 1917, but
5% notes due July 1 1919 were
control on March 11920. $6.286 900 1st M.1954.
1
exchanged for 1st M. 5% bonds due Julyco. was _planning an extension to
In Jan 1921 it was reported that the
112, p. 168. No
Savannah at a cost of approximately $1,000,000. V.
Later information.
Interest. Outstanding. Maturity.
STOOK AND BONDS- Date.
$8.584.600
Stock $15,000,000 ($100)July 1 1954
5 g J-J
First mortgage 850,000.0001 1914 Farmers'Loan6,282.900 N.Y.,true.
& Tr. Co.,
c* n tfl Int. at
gold
(31.000).
-$1.4115.400 additional'stock is held In treasury. unpledged and
Stock.
-Of the iemaining bonds 23,607,800 are held of company, in
Bonds.
at option
$151,000 are pledged as collateral. Redeemable1914 at 105 and interest.
whole or part, on any interest date since July 1
-For cll. year 1921: Gross income (taxes assignable to
EARNINGS.
railway operation deducted), $473,136; hit., misc. taxes, &c,, $336,282;net income. $136,854.
-Owns and operates 23% miles from Charlotte to Gastonia;
ROAD.
with branches from Belton
89.90 miles Spartanburg to Greenwood. S. 0.Jct. to Belmont, 3.19 miles
'
to Anderson, 11.30 miles, and from Belmont
of track operated,incl. spurs and sid(opened March 11916). total mileage
consists
ings and 10.87 miles operated under contract, 205.95. Equipment cars, 10
2
of 37 passenger cars, 119 freight cars, 25 ballast cars, express
caboose cars, 10 misc. cars, 16 electric locomotives. V.
-P., J. B. Duke; -P. & Gen. Mgr.,
OFFICERS.-Pres., W. S. Lee; V.
all of CharE. Thomason; Sec. & Treas., N. A. Cocke; And., E. B. Hardin, 872, 2076;
-V. 103, p. 2453 V. 107, p. 78, 502, 1837; V. 110, p.
lotte.
p. 1867.
V. 112,




28

ELECTRIC RAILWAYS

[vol.. 115.

(1) Chicago City Rallway.-An electric road.
EARNINGS.
-For years ending Jan. 31:
Unified Operation of Surface Lines.-See "Chicago
Surface Lines" for Year ending *Int. on
Other
Total
Bond
Divs.
details of unification ordinance under which the lines
Balance,
Jan. 31- Capital. Income. Income. Interest.
of
Paid.
are operated jointly with those of the Chicago Rail ways Co. this company 1921-22
$570,812 def31,101 $506,711 $317.299 $175,000 Surplus.
tem under the control of a joint Board of Operation. For as a single sys- 1920-21
$74,411
568,912
def241
568.671
316,904
surface and elevated lines see "Chicago Elevated Rys." plan to unite the
225,000 26,768
* Representing company's proportio
ORGANIZATION.
-Incorporated in Feb. 1859. and has extensive sur- residue receipts pursuant to unificatio n of 40% of Chicago Surface Lines'
n ordinance effective Feb. 1 1914.
face road privileges in the south division of Chicago.
Has a contract exROAD.
-Owns and operates 125.59 miles of track reaching South
piring Jan. 31 1927 with the Commonwealth-Edison Co.,
Chifor
its entire power requirements. The railway has abandone the supply of cago, Pullman, West Pullman, Auburn Park, Burnside, HegewIsch and
d its producing Manhattan Beach. Also extends from Jackson
plants but retains its distributing plants.
Park to 106th St. and the
Indiana State Line along Lake Shore and both sides of
Calumet River.
New Ordinances and Franchises.
-On Feb. 4 1907 the City Council passed 70, 75, 83 and 85-lb. rails.
ordinances providing for a settlement of the franchise
OFFICERS.-Pres., L. A. Busby; V.
ordinances were approved at the city election on April 2 question. These
-P., H. B. Fleming; Sec. & Treas.,
1907 and formally F. D. Hoffman; Aud., John J. Duck.
accepted by the company's board of directors on
-V. 100, p. 1831; V. 107. p. 1286.
set aside franchise VMS dismissed In April 1912. April 15 1907. Suit to
V. 94. p.
(3) Southern Street Railway Co.
-A trolley road.
tended outline of these ordinances, one to the Chicago City1118. An exRailway Co..
Unified Operation of Surface Lines.
and covering the lines operated by that company, and the
-See "Chicago Surface Lines" for
other to the Chi- details of Unification Ordinanc
cago Rye. Co., and covering the lines of the former Chicago
e of 1914, under which the lines of this com.
Union Traction pany are operated jointly
Co.(now the Chicago Railways Co.), was given in V.84.
with those of the Chicago Railways Co. as a sinof the tangible and intangible property of the Chicago p. 1123. The value gle system under the control of a joint board of operation.
City Ry. at date of
Ordinance
the ordinances was fixed at 321.000,000. The city or
any company au- See Chicago Embodying Unified Operation of Surface and Elevated Lines.
thorized by it is given the right on Feb. 1 or Aug.
Elevated Rys. on subsequent page.
months notice, to purchase the entire property of the 1 of any year, on six
ORGANIZATION.
-Incorporated in Illinois as a reorganization of the
of them, at their value at date of ordinance, plus "thetwo systems, or either
cost
and extensions. Including fair allowances for construct of rehabilitation Chicago General Ry., which was bid in at forecisoure sale on Sept. 30 1907
ion, profit and by the Southern Street Railway Co
brokerage". But if the properties are acquired
V 85.
Stock outstanding (par $100) 32.400.000. D 863•issued
Bonds
vate corporation, for its own profit, the purchasefor operation by a priprice is to be increased of 1909 were from time to time canceled and stock issued under 1st mtge.
20%-barring the case of a private company which
in exchange. No
might be willing to bonds now out.
turn over to the city all profits above 5% on the
cost of the investment
The companies are limited during their operation
EARNINGS.
-Included In statement of Chicago City Ry.
to an interest return
of 5% upon the agreed value plus the
ROAD.
of rehabilitation and exten-Included in Chicago City Ry.
sions. All net profits above this are tocostdivided
be
OFFICERS.-Pres., L. A. Busby; -P., H. B. Fleming: Sec.
to the city and 45% to the companies, but a deficit on the basis of 55%
& Treas.,
in any year is to be F. D. Hoffman; Aud., Jno. J. Duck. V.
made good out of the profits of subsequent years.
-V.91.p. 1631: 1712: V. 107.p 1288.
After April 15 1910 the
companies are required to set aside 6% of the
(4) Hammond Whiting Sc East Chicago Railway Co.
gross receipts for maintenance
-A trolley road.
and repairs and an additional 8% of the gross
All securities are owned by the Chicago City & Connecti
receipts to cover renewals
ng Rys.
and depreciation. Whatever portion of the
ORGANIZATION.
-Incorporated in Indiana in Jan. 1910 as
In the funds and passes to the city or its two funds is not used remains
licensee upon purchase. But If co Hammond Whiting & East Chicago Electric fly. Franchise successor
the two funds are not sufficient for the purposes
named, the companies 1964
Power is furnished by the Calumet & South Chicago Ry expires in
are obligated to supply additional funds.
Fares.-See V. 113, D. 530, under caption "Chicago City &
ordinances run until Feb. 1 1927. On Feb.The franchises granted by the
Connect4 1921 the City Council voted ing Rys."
to cancel these franchises. See V. 112, p. 743.
Purchase price of the propSTOCK AND BONDSerty Jan. 31 1922, $54,949,651.
Date.
Interest. Outstanding. Maturity.
Stock 31.000,000(3100)
On Jan. 29 1912 City Council passed an ordinance
31.000.000
providing for the ac- First mtge. $5,000,000, gold' 1910
quisition by Chicago City Ry. of city
5 g F-A
1.000.000 Feb 1 1930
of the
Co. V. 94, p. 349, 629. The latter lines sold Chicago & Southern 'frac
($1.000)
c&r tf 1 Int. at First Trust & Say.[lank. Chic.,Trust
was
at foreclosure in Feb. 1912
Bands.
-Subject to call at 105 and Int. E. K. Bolsot is also trustee.
The lines outside the city were taken over by the
Chic. & Interurban Ry
ROAD.
-Owns 34.18 miles of track, extending from State line netween
Decision as to Regulation.
-See "Chicago Surface
Illinois and Indiana at 108th St. Chicago. to Whiting, East Chicago
In Jan. 1920 the company applied to the III. P. Lines."
and
U.
issue 51,928,0005% 1st mtge. bonds to cover expenditu Comm. for auth. to Hammond in Indiana, and operates in connection with Calumet & South
res for improvements Chicago fly. to 63d St. and Madison Ave.,
V. 110, p. 359. In Jan. 1921 was auth. by the
in Chicago. Standard gauge;
III. P. U. Comm. to issue 80
-lb. T rail.
$1,758.000 bonds. V. 112,p. 372.
OFFICERS.-Pres. W. A. Busby; V.
-P., W W. Hill; Sec. & Treas.,
STOCK AND BONDS- Date.
Interest. Outganding. LastDiv..&v, F. D. Hoffman.
-V. 79, p. 103.
Stock, 318.000,000 (5100)_
Text Q
-M30 $18.000,000 Sept'22, 154
let mtge ($1.000) g__c*&r*tt 1907
5 g F-A
33,926.000 Feb 1 1927
CHICAGO Sc INTERURBAN TRACTION CO.
'First Trust & Say. Bk., Chicago, Trustee.
rha7,0e in fanauement•-See V 110 o. 1O7z.
Notes payable April 1 1922
1,630.744
Bankruptcy Proceedings.
-In Oct. 1922 the co. filed a voluntary
Bonds.
-There is no limit to the amount of bonds that
may be issued In b Inkruptev. Int. duo July 1 1922 on the 1st Mtge. bonds is in petition
ender the above mortgage. Under the Chicago
default
city
purchase by the city or its licensee, and only in such ordinance, in case of V. 115, p. 1729.
case, the bonds may be
OROANIZATION.-Incorp. In Illinois Feb. 14 1912 to take
called as a whole, for payment at par and int., on
over the
turity. V. 84. p. 1488. 1550. Bonds are listed on any int. date before ma- property of the Chicago & Southern Trac. Co. (sold at foreclosure)
outside
Chicago Stock Exchange the city limits, the lines
(V. 98. p. 386).
within the city having been acquired by Chic. City
ily
V. 94, p. 697.
DIVIDENDS.
-In 1893, 24%; 1894-1900, 12%; in 1901,
Fares.
-In Aug. 1919 was auth. to charge 3 cents a mile
105-5%; in
1902-09. 9%;in 1910. 16%;in 1911.
between Chicago
In 1914, 9%; in 1915. 8%; in 1916. 1115%; in 1912, 11%;in 1913, 1055 %. and Kankakee. V. 109. p. 774.
95i To; in 1917, 8% and !i% extra in
STOCK AND
Dec. In 1918, 5%. In 1919, 5%. In 1920,
Interest. Outstanding. Maturity.
6%. In 1921, 6%. In Stock, $1.000,00 BONDS- Date.
1922, March, U4%: June, 115%; Sept.. 15
0 ($l00
,
$1,000,000
31.000.00
, %•
5
mtge. gold (3100. 5590,) 1912
ROAD, &c. (Incl. Southern St. Ry.).-C
5 g J-J
1,350.000 Jan 1 1932
$1.000), no s f
c5 ttflnt. at First Tr. & Say. Bk., Chic.. Trustee.
single track, all now operated by electricity. ompany owns 349.90 miles of
System
Bonds.
Chicago, extending from the centre of the business covers the South Side
-The auth. amount of 1st M. bonds is
of
not limited. Bonds are
district south to 79th subject to call In
Street and between the South Branch of the Chicago
whole or in part, beginning with lowest number,
River and the Lake
at 102
on any interest day. $546,000 additiona
REPORT.
-For 12 mos. end. Jan. 311922. see V. 114,
l bonds have been issued and are
pledged to secure notes.
The combined results of the "Chicago Surface Lines" p. 1178, 1281.
under the UnificaEARNINGS.
tion Ordinance, which went into effect Feb. 1 1914. were:
-For years ending Dec. 31:
733; operating expenses, $46,516,150: residue receipts. Gross. $00,343,- YearGross.
Expenses.
Net.
Int.&Taxes.
$13,827,583.
Balance.
0
1921
3110,377 $412,221 def$1,815 $114,618
def3116.463
Income Account Chicago City Railway.
449,883
387.744
62,139
99,840
def37,702
1921-22.
ROAD.
1920-21.
-Consists of 50 miles of line between
1919-20.
Proportion of residue receipts
119th St. and Vincennes
*$5,531,033 *34,810,797 *$4,283,769 Road, Chicago, to Kankakee. III.
Standard gauge. 70-1b. T rails.
Joint acc't exp. int. on cap. inv. and
OFFICERS -Chairman of Bd., Samuel
South St. Ry. net earnings
3,615,846
limn; Pres., Britton 1. Budd
3,506,627
3,497.206 V.
-P., E. J. Blair: Sec. & Treas. W W. Crawford
; And., W. W. O'Toole.
V. 109, p. 774; V. 110, p. 1186% 1972; V.
Net earnings
$1.915.187 31,304.170
114, p. 1285; V. 115, p. 1729.
$786,563
City's proportion (55%)
1,080,085
735,497
443.589
Company's proportion (45%)
835.102
568.673
CHICAGO NORTH SHORE Ec MILWAU
342,974
Interest on capital_x
KEE RR.
2,751.588
2,739,056
2,705.676
ORGANIZATION.-Incorp. In Ill. and on
July 26 1916 acquired the
properties of the Chicago & /Milwaukee Electric
Income from operation
33,586.690 33,307.729 $3,048,651
May 1 1916 (V. 102, p. 1718. 2077). V. 103. p. RR., sold at foreclosure
Other income
Dr.2.744
664.
Dr.212
36.170
Franchises.
-Owns right of way in Wisconsin as far 1687.
as the city limits of
Milwaukee; franchise
Net income
$3,583,946
3.307,487 33.084,821 way in Illinois outside in Milwaukee expires Dec 31 1934. Owns right of
of corporate limits and to a considera
Interest on bonds
$1.824.018 $1,822.337 $1.780,884
corporate limits: the remainder is covered by municipal ble extent within
Dividends
(6%)1,080,000 (6)1,079,997 (5)900,000
franchises, several
being perpetual.
Valuation.
-In Nov. 1917 the Illinois P
Balance
$679,928
$405,153
3403,937 value of the eo.'s physical property in IllinoisU. Comm. determined the fair
to be not less than
* Representing 40% of residue receipts.
l'he original cost of the property in both Illinois and Wisconsin $5.100.000.
the books was 313.918,862, but the original cost of the Illinois as shown by
x The "Interest on capital investment" is that certified by board
section alone
supervising engineers, as provided by the ordinance of Feb. 11 1907. of could not be accurately acertained. V. 105. p. 1897. See also
V. 111.
OFFICERS.
-Chairman Ex. Com.. and Pres. L. A. Busby; Vice- p. 73
In June 1920 the co. issued 51.500,000 secured 7% notes
Pres., H. B. Fleming; Sec. & Treas.. F. D Hoffmann; Awl.. John
retire $360.00 6% serial notes due July 1 1920 and $600.000 ser "A" to
.
0
J. Duck.
-V.110, P. 1186; V. 112, p. 372, 1143, 1510; V. 114, p. 1178, 1281. notes ser "A' due Aug.
secured 6%
15 1920 and to partially reimburse the co. for
impts.
and addns. V 111, P 73
(2) Calumet Sc South Chicago Ry.-Electric.
In July 1921 the co brought out 3500.000 secured 7% notes, ser.
Unified Operation of Surface Lines.
-See "Chicago Surface Lines" to' retire 5260.000 7% serial notes due June 15 1921, and to reimburse"B," to
the co.
details of Unification Ordinance of 1914. under which the lines of this corm for permanent add'ns and impts. V. 113, p. 416.
Increased Fare Schedule.
pally are operated jointly with those of the Chicago Railways Co. as a sin-See V. 113, p. 531.
gle system under the control of a joint board of operation.
STOCK AND BONDSDate.
Interest. Outstanding. Maturity
Ordinance Embodying Unified Operation of Surface and Elevated Lines.
- Stock $100,000
See text
See Chicago Elevated Rys. on a subsequent page.
First M $10,000,000 g ($1,-) 1918
5 g J-J
54.060,000 July 11936
000. $500 & $100)___ _c*tf(Interest payable In N. 60. )00
ORGANIZATION -IS a consolidation formed in 1908 of the Calumet
4Y. 0
7 A ica o.
hug.gl 1930
1916
5%
Electric Street ity. and South Chicago City Ry. in accordance with the (Joni M $1.500.000 gold
6 g J-J
terms of ordinance passed by the City Council Mar. 30 1908. Lines Equipment notes gold ($1,-1 1917
76.500 See text
000 and $500)
c*(Int. at Chicago Northern Tr, Co. Trustee.
are located in the south division of the City of Chicago. The ordinance
s lip no
)
6 g FA 1
385,000 *See text
grants franchises until Feb. 1 1927 and provides that the city is to receive Equ oo0 tes $500.000 (3500 &J 1919
c*tfl Northern Trust Co.. Ch0agt), Trustee
5ic o0 Trustee.
0 0 see t
65% of net receipts after allowing for operating expenses, taxes and de- Equip tr ctfs
Ser C-1 3500,000) 1922
6g
preciation and 5% on Present value, together with amounts expended for
($100,$500 & $1,000) g-_tff Northern Trust Co., Chicago, Trustee.
N go, s
improvements and extensions. Unification ordinance of 1914 establishes Equip
o
Equip tr
1022
0%
a 5-cent fare and universal transfers. City may purchase property on Secured ctfs Ser C-2
sk. fd notes Ser."A" 1920
7 g J-D
1,382,700 June
Feb. 1 or Aug. 1 of any year upon six months' notice for present value.
se .00 ext ($100. $500 Sc(Central Trust Co. of Ill., Chicago, 1 1930
s le 0
t)
which is fixed at 55.000,000, plus amounts expended for improvements,
Trustee.
esti(
additions and extensions, but only for municipal operation, where purchase
Series "B"
1921
7 g J-D
480,800 June 15 '36
is made prior to Feb. 1 1927. With an addition of 20% in price, city may
Stock.
-The capital stock Is In the nominal sum of $100,000, which
also parchaae for the purpose of turning property over to other parties (it
purchased for Chicago City Ry. only 12% additional need be paid), but peen made the basis of the following participation certificates of no has
par
this additional sum need not be paid where these other parties agree to pay value; (a) 50,000 Illinois part. certfs., bearing $5 dividends a year, cumuover to the city all of the profits above 5% on the purchase price. V. 86, lative, if earned, from Jan. I 1918. the city. on these certfs. having priority;
D• 1223. On Jan. 31 1922 certified value of property and additions thereto (b) 58,000 Wisconsin part. certfs., bearing $5 divs. a year, cumulative. If
earned. from Jan. 1 1918: (c) 62,000 common part. certfs., bearing
was 311,425.158.
such
dividends as may be earned and declared. For payment of interest
STOCK AND BONDS- Date.
Interest. Outstanding.
Maturity
accumulated dividends see V. 112. p. 6' V. 113. p. 2818. Tho stock will on
be
310.000.000
Stock. $10,000.000 ($100)---held by George M. Reynolds, Samuel Instill and it. Floyd Clinch as voting
First mortgage rehabilitation( 1908
5,393.000 Feb 1 1927 trustees. For basis of exchange_of bonds of old co. for certificat
5 g F-A
es, see
($1,000) gold, no s fc*&r tf lint. at First Tr.& Sav. Bk.. Chic.. Trustee. V. 103. p. 664.
Noes payable. Jan. 31 1922__
815,072
Bonds.
-The 1st M. bonds are secured by a first lien on all
Bonds.
-The issue of 1st mtge. bonds Is Indeterminate, amount to be owned and by pledge as additional security of the entire capitalthe property
stock of the
limited to amount of new work done on property. They are subject to Chicago & Milwaukee Electric Ry. of Wisconsin. which
owns the tercall at any int, date before July 1 1912 at 105 and int.; thereafter only in minal facilities in Milwaukee.
Are pledged as security for the
case city shall purchase property at par and int. on any int. date. No s. fd. 7% secured note issues, remaining bonds may
be issued at par for not




OCT., 1922.]

ELECTRIC RAILWAYS

exceeding 85% of the cash cost of betterments, &c. The mortgage provides for a maintenance replacement & depreciation fund of 12% of annual
gross income for first five years, 14% for second 5 years, 16% for third
5 years and 18% for the last 5 years, to be expended for maintenance,
Svc., or for retirement of 1st mortgage bonds. The 1st mortgage bonds
are callable as a whole or part on any interest date at 105 and interest.
Continental & Commercial Trust & Savings Bank, Chicago. is trustee. V. 103, p. 1031. $240,000 Gen. M. bonds have been canceled and
$480,000 are in treasury. The equip. notes of 1917 mature $8,500 5.-a.
July 1 1917 to Jan. 1 1927; secured by 15 steel passenger cars costing $200.,
000. Redeemable all or in part at 10036 and int. on any int. date on 30
day's notice. The equip. notes of 1919 mature $25,000 each Feb. 1 and
Aug. 1 to Aug. 1 1029. Red. all or in part at any time on 30 days' notice,
at 101 and int. for all notes having over 5 years to run, and at 1003i and
int. for notes having less than 5 years to run Secured by equip. at the
Int. In New
rate of $100 of equip for not in excess of $70 of notes issued
York or Chicago. V. 109, p. 887. The equip. tr. ctfs. of 1922, Ser. "0-1,"
mature $50,000 July 1 1923 to 1932. Red., all or part. on 30 days' notice at
101 and div. for ctfs. having more than 5 years to run from date of redemption and at 10034 and div. for ctfs. having 5 years or less to run. Penna.
4 mills tax refundable. Divs. payable in N. Y. or Chicago. V. 115. p. 868.
Equip. tr. ctfs., Ser. "C-2," mature annually over 5 years and are a secondary lien on equipment securing Ser. "C-1.'
The secured 7% notes (both series) are secured by 1st M. 5s in the ratio
of not less than $142.857 par value. or 1st M 6s in the ratio of not less than
$127,033 par value of bonds for each $100 of notes outstanding. Authorized issue limited by restrictions of the trust deed. A sinking fund of
2% of the notes of each series outstanding payable semi-ann. Is provided
for, to be used in the purchase and cancellation Of the pro-rata amount of
notes of each series at a price not to exceed the redemption price. $29.100
Ser."A"and $9,300 Ser."B" have been purchased and canceled. Series"A"
are red., all or in part, at 101 and int. on 30 days' notice. Series "B" are
red., all or in part. upon 30 days' notice at 105 and int. until June 15 1926:
thereafter at a premium of 3i of 1% for each full year of unexpired life.
Int. payable in N. Y. or Chicago. V. 111, P. 73: V. 113, p. 416.
EARNINGS (tad. Chicago & Milw. Elec. Ry.-Milw, City Lines):
GTOS3
Net, after
12 Vionths
Fixed
Balance,
ending Dec. 31Earnings.
Taxes.
Charges.
Surplus.
1921
34.507.381
3852.733
$463,013
3389.720
1920
4,193.669
823.207
433.011
390,196
ROAD. &c.
-Owns ann operates the electric railroad connecting Evanston, Ill., and Milwaukee. Wis.. with a branch line extending from Lake
Bluff. Ill., to Area. III embracing g4 54 miles of road and 189.57 miles
single track equivalent. In Aug. 1922 a line connecting Chicago & Milwaukee with Lake Geneva by way of Kenosha was put into service. From
Kenosha to Lake Geneva an omnibus service is operated by tha co. V. 115,
p. 868. The principal communities served are Evanston, Wilmette,
Winnetka, Glencoe, Highland Park, Lake Forest, North Chicago, Waukegan
and Zion City. Ill., and Kenosha, Racine and Milwaukee, Wis.; also
Fort Sheridan and Great Lakes Naval Training Station. Has operating
agreement with Chicago Elevated whereby trains are run over the elevated
tracks to 63d St. and Dorchester Ave. in Chicago. 165 motor, combination, buffet, trailer, baggage and express cars, and 139 freight cars, 13 service
cars, 43 misc. cars. 4 electric locomotives and 1 work motor.
OFFICERS.-Chalrman of the Board. Samuel Insull; Pres., Britton I.
Budd: V.-P . R. Floyd Clinch: Sec.-Tress.. W. V. Griffin.
V. 113, p. 2818; V. 114, p. 1062; V. 115, p. 868, 1320.

29

of the company shall be fully paid and discharged, the directors of the
company shall be elected by trustees, now consisting of Messrs. Harrison
B. Riley, William C. Niblack, Abel Davis, Frank G. Gardner and Henry
J. Tansley, and provision is made in the trust deed securing the 1st M.
bonds for the appointment of a permanent finance committee, now composed of Messrs. Henry A. Blair, Seymour Morris and B. A. Eckhart,
Chicago.
Acquisition of Chicago Consolidated Tracttan Properties.
-On Dec. 27 1910
Judge Grosscup confirmed the sale of the Chic. ()ousel. Trac. Co. and its
eight underlying companies on Nov. 30 1910 to Andrew Cooke and the
sale by the latter of all prroperties within the city limits to the Chicago Railways Co. (V. 91. p. 945. 1253. 1511). pursuant to an ordinance passed
Oct. 10 1910 (placing valuation at $4.021.982), like in tenor. amendatory
and supplemental to ordinance of Feb. 11 1907 (V. 91, p. 1025. 1159)
See reorganization plan. V. 90. p. 1613; V. 91, p. 37. The lines outside the
city were acquired by the County Traction Co.(now the Chicago & West
Towns Ry.), which has no connection with the Chicago Railways Co.
On Nov. 1 1910 a deposit agreement was entered into by the holders of the
semritiee of the Chicago Consolidated Tractlon and its subsidiaries. Providing for the exchange of the said securities for Chicago Rys. Co. Purchase
Money 4% to 5% bonds and Adjustment Income 4% bonds, both dated
Jan. 1 1911 and maturing Feb. 1 1927. For description of bonds and terms
of exchange, see V. 91. p. 1384. and compare V. 90. p. 1613: V. 91, p. 214.
Favorable Decision.
-In Oct. 1912 the U. S. Circuit Court of Appeals
affirmed the decision of Judge Kohlsaat, dismissing the suit brought to have
the compromise franchise of 1907 annulled. V. 95. p. 1206.
Settlement of Yerkes Suit.
-In April 1914 the company arranged a settlement of the suit brought by the Yerkes estate on the guaranty of the bonds
of the Chic. Consol. Trac. Co. by the Union Trac. Co. V. 98. p.1155.
Decision as to Regulation.
-See "Chicago Surface Lines."
Fares.
-See "Chicago Surface Lines."
Renewal of Bank Loans Authorized.
-V. 113. p. 531.
Interest. Outstanding. Maturity
STOCK AND BONDS- Date,
See text. See text.
Stock,3100,000
First mortgage (see text),
-A
$59.926,000 Feb 1 1927
5F
1 1907
($1,000) gold
c&r tt Int. at Harris Trust & Say. Bk.. Chic., True.
or at Harris. Forbes & Co., New York.
Oonsol mtge, gold
5%
See text. Feb 1 1927
t 1907
Bonds Covering City Lines of Former Chicago Cansol. Traction.
5 J-J
4,073.000 Feb 1 1927
Pnrch-money M $6,000,000 gf 1910
($500 and $1.000)_ _ _ _c*tflIllinois Tr. & Say. Bank. Chic., Trustee.
Adjust Inc M 32.500.000 gold' 1910
2.500.000 Feb 1 1927
4 g May
($100&$500)
(non-cum)c"tf 1 Central Trust Co.of Ill., Chicago.Trustee.
-The capital stock of the company, which is issued in the nominal
Stock
amount of $100,000. has been made the subject of a trust agreement, dated
Aug. 1 1907 and executed Jan. 25 1908, by and between the Chicago Railways Co. and Messrs. Adolphus C. Bartlett. Chauncey Keep, Charles H.
flulburd.Albert A. Sprague and Charles G.Dawes, as depositaries, and
Central Trust Co. a New York as custodian. Under this agreement
the stock serves as a basis for the issue of the participation certificates.
representing in all 265,100 equal parts. Series 1 consists of 30,800 parts.
Swim 2 of 124.300 parts, Series 3 of 60,000 parts and Series 4 of 50.000 parts.
Series 1, 2 and 3 are entitled. In the order of priority named, to cumulative
dividends of $8 for each part, beginning with year ending Aug. 11908.and in
the distribution of capital to $100 for each said part. Series 4 is entitled
to any remaining profits or capital distributed. V. 85. p. 1269.
Dividends on participation certificates Ser.2are limited to $4 on each certificate so long as more than 50% of Series C bonds remain outstanding.
and thereafter to $5 per certificate until the remainder of Series 0 bonds
have been redeemed. Series 2. however, is entitled to unpaid accumulation
on account of its $8 per certificate (beginning with the year ending Aug. 1
1908). but only when earned, and after payment of all accumulations of
sinking fund and of dividends on Series 1.
Bonds.
-First mtge. bonds are issued only to provide funds for rehabilitation, extensions, dm. They may be redeemed at par and accrued interest
on any interest day. The bonds have a first lien on the entire property.
rights and franchises of the company. The authorized issue is limited to
the aggregate of the amounts approved from time to time by the board of
supervising engineers. $1.459.000 are held In treasury and $2,812.000
are pledged as collateral for bank loans. See full particulars of bonds,
property,&c., in V. 86, p. 545; V.88, p. 1436; 1619; V.90, n. 302; V.93.
p. 162. Bonds are listed on N. Y.Stock Exch. V. 103. p. 238.
The consolidated mortgage bonds consist of the following: Series A.
Issued. $17.403.800. of which $1.006.000 are In the treasury and can be
issued only for acquisition of additional property; and Series B. $17.164.475.
The last of Ser. C bonds were called for payment Aug. 11921, being retired
through operation of sink. fd. V. 113, p. 627. $1,196,000 Series A bonds
have been retired. See particulars. V. 86. p. 1223; V. 93. p. 1724. Of the
remaining Series B bonds, $228,000 are in treasury. Bonds of three series
bore interest at 4% up to Feb. 1 1912; since. 5%•
Purchase Money Mtge bonds bore Int. at 4% per ann. during first 5 yrs..
now 5% per ann. They are red, at par and int, on any int date.
Adjustment Income Mtge. bonds are red at par and Int. on any int.date.
Interest is payable only if earned and is not cumulative. Payments of
1% each were made on May 1 in 1913 to 1918. inclusive. No action taken
on May 1 1919 and 1920 interest. V. 108, D. 1390. V. 110. p. 1642. in
\,Iay 1921, however, int, was again paid. V. 112, p. 1656. Int. on adi.
,
inc. bonds for the year end. Jan. 31 1922 was paid May 1 1922. V. 114,
p. 1650.
Interest on both purchase-money mortgage and adjustment income
mortgages payable at company's office or at agency of company in Chicago.
DIVIDEND,
-An initial dividend of $4 was paid Nov. 15 1908 on
aeries 1 participation certificates. On Sept. 1 1909 $8 was paid on Series 1
certificates. None to Oct. 1912. when $6 was paid. In Fels. 1913, $6;
%lay. $6: July. $6; Aug..$4. In 1914. Feb..it Aug.,$8. being full payment of all arrears. Feb. 1915 div. of $4 was paid June 5(V. 100. p. 1671)•
l'he Aug. 1915 div. of $4 was paid Sept. 1 1915. In 1916, Aug., $8. In
1917, Aug.. $8. None since. In Feb. 1914 initial div. of $2 per share
was paid on Series 2. In 1915. June $2. In Feb. 1917, $2. None since.
ROAD.
-Comprises 585 83 miles of track (including 128 miles of the
,
ormer Chicago Consolidated Traction Lines).
EQUIPMENT.
-Operates 1.886 double-truck "P-A-Y-E" pass. cars.
REPORT.
-The annual report for year ending Jan. 31 1922 will be found
In V. 114, p. 1280, 1528. Toe comb nei resul's of the "Chicago Surface
Lines" for the year end. Jan. 31 1922 were: Gross, $60.343.733; operating
expenses. $46,516.150; residue receipts. $13.827.583.
Income Account for Years ending Jan. 31.
Share of *Adjust- Int., 5%, Balance, -Of which tones. Beets. ments.
on Inv. Divisible. City .55%. Co. 45%.
'21-'22_$8,296.550 $290.000 34.615,862 33.390,688 31,864,878 $1,525,809
20-'21_ 7.216.105
84.834 4.580,658 2.550 703 1.402.886 1,147.816
19-'20_ 6,425,654 Dr.56.371 4,541,539 1.827,744 1,005,259
822.485
• Applicable to previous years.
Income Statement (Non-Partnership Account) for Years ending Jan. 31.
1922.
1921.
1920.
1919.
Chicago Railways,45%- $1.525.809 $1.147.816
$308,747
$822,485
5% on investment
4,615,862 4,580.658 4,541.539 4,501.960
Miscellaneous interest
195,453
109,924
145.650
119,080

CHICAGO RAILWAYS CO.
-See "Chicago Surface Lines" for
Unified Operation of Surface Lines.
letalls of Unification Ordinance of 1914, under which the lines of this
company are operated jointly with those of the Chicago City Ry. as a
single system under the control of a joint board of operation. As to plan
for unification of surface and elevated lines. see "Chicago Elevated Rys."
Ordinance Embodying Unified Operation of Surface and Elevated Lines.
See Chicago Elevated Rys. on a subsequent page.
ORGAN IZATION.-incorp. In Illinois in Oct. 1903 and on Jan. 25 1908
acquired at foreclosure sale the property of the old Chicago Union Traction.
comprising the lines of the North and West Chicago Street RR. The purchase was made under a modified plan of reorganization and readjustment
dated Oct. 15 1907 and outlined in V. 85. P. 1269; see also p. 1576.
In Dec. 1912 purchased 6 miles of the Suburban RR.inside the city limits
(V. 95. p. 1402) and issued $22.554 bonds to cover cost.
-On Feb.5 1907 the City Council passed ordinances providing
Franchises.
for a settlement of the relations between the city and the street railway
companies. V. 84. p. 338. 390. The franchises granted by the ordinance
expire Feb. 11 1927 and were approved at the popular election held April 2
1907. On Oct. 10 1910 supplemental ordinance was passed expiring Feb
1927. covering lines of Chicago Consol Trac. properties. V. 91. p. 1025.
In the remarks concerning the Chicago City Ry.on a preceding page of this
publication will be found a brief summary of the main terms, requirements
and conditions of these ordinances. A very extended outline of the same
was !printed in the "Chronicle" of May 111907. pages 1123. 1124 and 1125.
to which the reader is referred for detailed information.
The ordinance for the Chicago Rys. Co. provides that the valuation of the
properties acquired shall be deemed and considered to be $29,000,000 (the
value fixed by a board of expert engineers acting for the city) plus 31.779.875
for expenditures from the date of the valuation on June 30 1906 to Feb. 1
1907, making total valuation of properties as recognized by ordinance
$30.779.875 as of Feb. 1 1907. With the expenditures already made, the
valuation of road, equipment and franchises on April 1 1922 was computed at $92.547 251.
All expenditures for reconstruction and extensions are being made under
the direct supervision of a board of supervising engineers headed by Mr
Bion J. Arnold. and the company is required, under conservative restrictions, to advance moneys for the construction of subways by the city
The expenditures for reconstruction and extensions, including any contrl
butions for subways, after Feb 1 1907 are to be added to the value of the
properties recognized by the ordinance, together with 5% of such expenditures for brokerage. As compensation for its services in construction
the company will receive an additional 15% of all expenditures for recore
ritruction and extensions, exclusive of amounts contributed for subways
The company agreed to lower and reconstruct the tunnels under the
Chicago River at Washington, La Salle and Van Buren streets.
-Under the terms of the franchise, the company
Right to Purchase by City.
agreed to waive all rights under previous grants, and gave the city an
Option to purchase all of its property for municipal operation at any time
-year franchise granted the company
prior to the expiration of the 20
by the ordinance. The price to be paid by the city to be $30;779.875
the valuation of the properties February 1 1907. as above mentioned.
plus all expenditures after that date for reconstruction, extensions and additions to the properties. Including any amounts advanced to the city for
the construction of subways in the downtown business district. In case
the property shall not be purchased, as above stated, prior to 1927.the
expiration of the franchise, the city covenants that it will not then grant
a franchise to any other corporation for the operation of a competing system
in the company's territory unless such other corporation shall purchase
the property of the company at said price. The city also has the option
of requiring the company to sell its property to any other licensee corporation of the city,or of purchasing the property itself for municipal ownership
Gross income
36,337,124 35.874,127 35.483.104 $4,920,632
(with no requirement as to municipal operation), at any time during the
Deduct
life of the franchise; but in case of such purchase by the city or a licensee
Total interest on bonds_1$4,848,619 34,868,4301 $4,744.888 $4,760.647
price to be paid shall be 20% more than the price above mentioned, Interest on loans
the
f
19,475
115.839
1
but the licensee shall not be required to pay the additional 20% if it shall Sink. fd. reserve accrued
250,000
250.000
250,000
250,000
agree to pay over to the city all profits in excess of 5% on the investment Loss on securities
107.347
event. (1) the purchase price must be paid in cash and the first Fed.inc.tax on int.coups
42,000
In any
42,000
42,000
42.000
mortgage bonds of the company will attach to such cash as a first lien in Corp. exp. & adjustm'ts
131,100
142,761
147.916
222,528
the event of such purchase; or (2) such purchase (if made within said 20
consummated expressly subject to the lien of the 1st mtge.
years), must be
Net inc. for int., &c__ $1.065.405
$182.461 def.$374,017
$463.587
bonds, but if made at the expiration of said 20 years, the amount thereof
-Chairman of Board of Directors and Pres.. Henry A.Blair,
OFFICERS.
must also be paid in cash.
E. Wilkie; Sec., F. L. Hupp,
made for special compensation Vice-Presidents, John M. Roach and J.V. 109,
Compensation to City.-Provision is
p. 172; V. 110_, p. 658.
Treas., M. B. Orde.-V. 108, p. 1506
to the City of Chicago. but this compensation is payable only out of 1612. 1742 V. 111, p. 389. 1851; V. 112. p. 1282, 1510, 1656; V. 113. p.
the surplus earnings of the company after paying or providing for all op- 531. 627, 2184; V. 114, p. 1280, 1528. 1650.
erating expenses, Including the charges for maintenance and depreciation
prescribed in the ordinance and 5% upon the valuation of the company's
CHICAGO & WEST TOWNS RAILWAY CO.
property at which it may be purchased by the city for municipal operation,
ORGANIZATION.-Incorp. in Illinois in 1913 as a consolidation of the
as above stated. Of the surplus earnings so remaining, the City of Chicago
55% and the company 45%. (See V. 99. p. 1831 for dispute with County Traction Co. and the Suburban RR. Serves the communities of
receives
Oak Park. River Forest, Maywood, Cicero, Berwyn, Forest Park, Lyons,
city as to certain accounts).
-The trust indenture securing the participation Riverside. Brookfield, La Grange and others, having an estimated populaControl by Trustees.
that until Aug. 1 1912 and to the full extent thereafter tion of over 135,000. Franchises contain no burdensome restrictions and
certificates provides
which may be permitted by law until all of the consolidated mortgage bonds extend beyond 1920. About 10.5 miles of track on private right-of-way.




•

30

ELECTRIC RAILWAYS

-In Aug. 1920 the co. was auth. by the Ill. P. U. Comm. to in
Fares.
crease fares from 8 cents to 10 cents on its lines operating through the west
ern suburbs. V. 111, p. 588.
STOCK AND BONDS- Date. Interest. Outstanding. Maturity.
Common. $1,000,000 ($100)$1.000,000
Pref (cum). $1,000,000 ($100) --_6%
1.000.000
First mortgage 21,000.000f 1918
8 M-S
850,000 Sept 1 1922
($500 and $1.000) gold_c*1Harris Trust & Say. Bank. Chicago. trustee.
Remaining bonds may be issued for 75% of eats. and enlargements
with certain restrictions. This issue originally matured Sept. 1 1920 and
bore 7% int. but was extended for 2 years at 8%. Callable on the 1st day
of any month at 101 and int. $100.000 are held in treasury.
EARNINGS.
-For years ending Dec. 31:
Calendar YearsGross.
Net after Taxes. Int., &c. Bal. Surv.
1921
$1.108,618
$228.931
$74,439
2154,492
'
1,000,096
1920
183,267
68.270
114,998
Road.
-Owns 72.13 miles of track, of which about 5 miles leased for
operation by Chicago Rys. Co.,and operates an additional 0.95 mile under
Long-term lease,.
Willard M. McEwen; Sec. & Treas., Charles N.
Hebner.-V. 106, p. 1230; V. 107, p. 1384; V. 111, p. 588.
OFFICERS.-Pres..

[VOL. 115.

in 1916 but were extended to July 1 1919 at 6%)due July 11919. the following protective committee was organized and has called for deposits. For
statement issued by the committee see V. 108, p. 2527. V. 114, p. 2115.
Up to May 1922 over 85% of the notes had been deposited.
Committee for Secured Gold Notes.-Charles It. Mitchell. Chairman'
Pres. National City Co.. N. Y.; George M. Reynolds. Pres. Continental
& Commercial National Bank of Chicago; John H. Mason. Pres. Commercial Trust Co., Phila.; R. Floyd Clinch of Crerar, Clinch & Co., Chicago, with Stanley A. Russell as Sec., 55 Wall St., N. Y. City. Depositaries: National City Bank, N. Y.. and Continental & Commercial Trust
& Savings Bank, Chicago. V. 108, p. 2527.
-V.109, p.2355.
Report by Stone et Webster on Physical Condition of System.
Valuation-In its order making permanent the 10 cent fare the P. U.
Comm.found the value of the properties as of June 30 1919 to be $86,350,000. For details see V 112. p 1398.
Fares.
-In Sept. 1918 applied to the Ill. P. U. Comm. for auth. to increase fares from 5 cents to 7 cents. The Comm.. however, auth. the co.
to charge only 6 cents, effective from Nov. 22 1918 to Dec. 31 1919. V.
107. p. 2008. Effective Aug. 8 1919. however, the Comm. auth. the co.
to charge an 8 cent fare in Chicago to continue until Feb. 1 1920. V. 109
P• 577. Effective Feb. 1 1920 the Ill. P. U. Comm. issued an order changing fares to 8 cents cash, with tickets at 74 cents in Chicago. Ticket
fare between Evanston and Chicago was raised to 12 cents. Effective
Aug. 4 1920 was auth. by the P. U. Comm. to increase cash fares from
EVANSTON RAILWAY CO.
8 cents to 10 cents, with tickets at 4 for 35 cents. V. 111, p. 588. For
ORGANIZATION.-lncorp. Sept. 20 1913 in Illinois to take over the results under 10-cent fare see V. 111, p. 1751. 1948. In Nov. 1920 the
lines in Evanston,Ill., formerly owned by the County Traction Co.(now the Supreme Court refused to grant a writ of injunction to enforce a return to a
Chicago & West Towns By.) Owns 98% of the stock of the Evanston 5 cent fare, applied for by the State's attorney, thus affirming the Ill.
West Side Ry., organized in Jan. 1922 to connect the west side with the P. U. Comm's authority to fix the rate of fare. V. 111, p. 1851. In
centre of Evanston. V. 114, p. 197.
Jan. 1921 the Ill. P. U. Comm. issued an order making permanent the
Franchise.
-The company was granted a new 20
-year franchise.
10 cent fare. V. 112, p. 161. See also V. 115, p. 988, 1428.
-In Aug. 1920 the Ill. P. U. Comm. auth. an increase in
Fare Increase.
Interest. Outstanding. Maurits,
Date.
STOCK AND BONDSfares from 0 vents to 7 cents cash with 5 tickets for 30 cents. V 111. p 792 Common. 250,000
0
0
16 0 0 eh .
25g:0 o sll. see text.
Q-M
shares
V. 113, p. 2818. Co. has applied for auth. to reduce ticket fares to 54 cts Pref. 160,000 shares. 6c7,--cum_ ____
Intere_st
STOCK AND BONDS- Date.
. Outstanding. Maturug
$14.000.000 July 1 1919
6 g J-J
2-Yr gold notes (closed issue) 1 1914
Stock. $500.000 ($100)--(51.000). 314.000,000_ _ _c* Illinois Trust & Say. Bank, Chic., trustee.
$500,000
First mtge bonds, gold____c*J 1913
6 it F-A
Debentures 37.000.000 ($100 1914
d
7,000,000 July 1 1924
6 g J-J
271,800
1933
Redeem at 103 and int____ f Int. at Merch. Loan & Tr. Co..Chic.. True.
c*tf Int. at National City Bank, New York.
General mortgage bonds5 g F-A
Equip tr certfs gold Ser "A"j 1914
820 .000 See text.
139,300
-Sinking fund of 2% of outstanding bonds began 1917.
Bonds.
550,000 See text.
do
erclal Tr Co. of Phila.. Trustee
doer
S
guaranteed by endorse
EARNINGS.
---For years end.Dec. 31:
Equip tr certfs Ser "C-i" 1 1922
6 g M-S
See text
1,725,000
Gross
ending
Exp., Taxes, Net
Year
Inter- Balance,
($100, $500 & $1,000)_c*tf'Northern Trust Co. Chicago, trustee.
Earnings. Depr..&c. Earns.
Dec. 31est.
Surplus.
JIOCk.-Com. and pref. shares expressed at par value of $100 each. The
1921
$951,820 $199,227 $52.593 $25,370 327.223
is redeemable at 2100 and accrued dividends.
234.425
1920
189.790
44,635
24,145
20,490 pref. stock
Notes -Pending the formation of a concrete plan for the unification of
ROAD.-Length ofsingle track,10.34 miles. 73 and 85-1b.rail. Gauge, surface and elevated lines and appropriate municipal action in the matter.
4 ft.8% in.
the holders of 213,626,000 of the 214,000.000 5% notes due July 1 1916
OFFICERS.-Pres., Clement C. Smith, Milwaukee; V.
-P., J. P. consented to extending same to July 1 1919 (see above under "Default. &c.")
Pulliam, Milw.; Vice-Pros.. & Gen. Mgr., Charles F. Speed. Evanston: at 6% interest, with a cash payment of $15 in respect of each $1.000 of
Sec. and Treas., H. C. Mackay. Milwaukee; Asst. Sec., B. W. Rosenstone. extended notes (to provide which the trustees borrowed 31.300.000. giving
Chicago; Asst. Treas., Wm. M. Chester, Milwaukee.
-V. 113, p. 2818; their note therefor). In addition, the value of the security for the notes was
V. 114. p. 197.
materially increased and an agreement made with the Commonwealth
Edison Co. whereby all claims for power supplied to the railroad cos. after
CHICAGO ELEVATED RA I LWAYS.-A voluntary association. June 30 1916 and until maturity of the extended notes will be assigned to a
Unification of Surface and Elevated Lines and Construction of Subways, &c. trustee and will be paid only if and as other floating debt of sub. cos. (except
On Aug. 14 1918 the City Council passed a proposed ordinance for the capital debt) is not increased. In case other collateral securities pledged foe
unification of surface and elevated lines and for the construction of sub- the extended notes shall upon sale prove insufficient to pay such extended
ways, which was submitted to a referendum vote of the people on Nov. 5 notes in full, the said power claims then unpaid will be placed on a parity
1918 and rejected by them. V. 107. p. 1836. For digest of this ordinance with the extended notes. V. 102, p. 2341; V. 103, p. 578. The notes are
see V. 107, p. 1292. The roads included were the Chicago Railways Co.. now secured by pledge of substantially all of the stock of the Northwestern
Chicago City Railway Co., Calumet & South Chicago Ry. Co., Southern Elev. RR., the Met. West Side Elev. Ry. and the South Side Elev. RR..
Street Railway Co., Metropolitan West Side Elevated RR. Co., North- having a total par value of 536.292.500. and notes and claims against these
western Elevated RR. Co.. South Side Elevated RR. Co. and the Union companies aggregating $1,070.000. Roth at par and int. on any int. date
Consolidated Elevated Railway Co. The ordinance provided for a on 30 days' notice. Int. payable in N. Y. or Chicago. Int. at rate of 5%
north and south subway system, an east and west subway system and was paid on the unextended notes to Jan. 1 1919.
Deb. notes are red., all or any part, when drawn by lot on any Int. dat
,
vast improvements and extensions of surface and elevated lines; 270,943.020 was the city purchase price set for the elevated roads as of June at 1024 on 4 weeks' notice. V. 99, p. 195. The equip. trusts as abov.)are
30 1916 with additions to or deductions from capital account to date of joint obligations of the Met., Northwestern and South Side Elev. cos. and
not of the Chicago Elev. Rys. They are guar. by end. on each ctf. by the
effective date of ordinance. After the referendum rejection of the ordinance
the local Transportation Committee of the Chicago City Council took up Met. West Side El., Northwestern El. and the South Side El. The Series
the question of revising the ordinance and recommended a lease of the "A" certfs. are due in s.-a. installments from Feb. 1 1917 to Aug. 1 1926.
$102.000 each Feb. 1 and $103,000 each Aug. 1. V. 100, p. 53. $1,230,000
traction properties. V. 108. p. 1274.
On Apr. 19 1917 the III. Supreme Court upheld the right of the State retired. Series"B" mature $110,000 semi-ann. from Feb. 1 1927 to Feb. 1
Public Utilities Comm. to regulate street car service in Chicago regardless 1929. Series "C-I" Trust of Sept. 1 1922 are payable $170,000 annually
of the provisions of the contract ordinances of 1907. between the Chicago Sept. 1 1923 to Sept. 1 1931 and 2195,000 Sept. 11932. Red, all or part
on any div. date on 30 days' notice at 101 and divs. for certfs. having more
City Council and the surface lines.
At midnight Nov. 2 1913 began through-routing north and south elevated than 5 years to run from date of redemption and at looy, and divs. for
trains, using the Loop for that purpose, and established free transfer sta- certfs. having 5 years or less to run. Divs. payable in N. Y. or Chicago.
Penna. 4
-mill tax refundable. V. 115, p. 1531.
tions between said trains and trains of Metropolitan and Oak Park cos.
Dividends.
-On pref. initial div.-1 %-paid Dec. 1 1911. In 1912
As the project for uniting under one control the elevated railway and stir.
face roads of Chicago was not carried out by July 1 1914. the Common- and 1913 6%. In 1914', Mar., 14%;June, 1%. None since.
purchased from the syndicate which underwrote the
wealth Edison Co.
REPORT.
-For year ending June 30 1921 in V. 113, p. 2501.
pref. shares approximately 200.000 shares of Chic. El. corn. stk. for about
Combined Earnings (Inter-Company Rentals Deducted)
Gross
26.000.000 in accordance with the terms of an agreement said to have been June 30
Net
Other
Interest,
Balance,
Divs.,
YearIncome. Earnings. Income. Taxes, &c.
entered into in 1911
etc.
Sur. or Def.
-In Sept. 1922 the Ill. Commerce Comm. apProposed Consolidation.
3
$
$
$
proposed merger of the Northwestern Elevated RR., the Metro- Cal. yr.'21 17,549,299 4,090,507 129,918 4,095,886
proved the
121,539
_
politan West Side Ry. and the South Side Elevated Ry., the principal oper- x1920-2117,788,986 3.916.2c0 112.457 3.926.701
sur.102.016
ating cos., and the purchase by the consolidated cos. of the Chicago & Oak x1919-20__15,097.812 3,758..046 89,870 3,750.099
sur 97.817
x Figures include Metropolitan, Northwestern, South Side and Oak Park
judiciary sale, as per plan outlined in V. 114, p. 2358.
Park Elevated RR.at
Under the plan the consolidated co. would acquire the property of the Oak companies.
Park Co. subject to lien indebtedness aggregating $5,157,862, by issuing
Income Account of Chicago Elevated Rys. Collateral Trust.
$2,600,000 of its capital stock for the purpose of retiring receiver's ctfs. and Calendar
IncomeGross
Interest &
Balance
by paying or assuming the remaining liabilities of the receiver and any unYearDividends Int.,&c. Income. Expenses
Surplus.
expens2s of the receivership, estimated, after deduction of 1920
paid costs and
5202,094 3202.094 21,350.974 def1.148.880
current assets of the receiver applicable to the payment thereof, at not more
227.907
227,907 1.350.529 def1,122,622
than 2400,000. In addition, the following outstanding securities are to be 1918
99
1,176,572 195.439 1,372,011 1,371,513
498
surrendered and canceled:
OFFICERS.-Pres. of constituent cos., Britton I. Budd; Sec.. W. V
$9,890,800
Entire outstanding stock Northwestern Co.(par $100)
16,170,300 Griffin: Comp.. Edward A. Brion.
Entire outstanding stock Metropolitan Co.(par $100)
TRUSTEES.
-William G. Beale and Samuel Insull.
10,231,400
Entire outstanding stock South Side Co.(par $100)
EXECUTIVE COM MITTEE.-Sarnuel Insull, W. A. Fox ana J. H
Outstanding 5% note Northwestern Co., dated Aug. 3 1916
290,000 Gulick
note Metropolitan Co., dated Aug.3 1916_ _
Outstanding 5%
620,000
GOVERNING COMMITTEE.
-Samuel Insull, Chairman; Gilbert E
Indebtedness of Northwestern Co. for electrical energy
544,683
Gulick
)
Indebtedness of Metropolitan Co. for electrical energy
1,055,951 Porter, Britton I. Budd, J. H.V. 114, and W. A. Fox -V. 112, p. 161, 256,
2501;
p. 519, 2011, 2115, 2358; V. 115,
1398; V. 113, p.
electrical energy
Indebtedness of South Side Co. for
426,173
P•
2310,8
307 644 759"
In exchange for the above, the consolidated corp. is to issue the following " 868 98 '1320, 1428, 1531.
new securities:
(1) Metropolitan West Side Elev. Ry.-An electric road.
(1) Adjustment Inc. bonds, dated Jan. 11922,due Jan. 11952,
Proposed Ordinance Embodying Unified Operation of Surface and Elevated
int. not exceeding 6% p. a. only if earned
17,120,000
Lines.-See Chicago Elevated Railways above.
(2) 1st Lien & Ref. bonds, Series "A," dated Jan. 11922, duo
Proposed Consolidation -See Chicago Elevated Rys. above.
Jan. 11927, int. not exceeding 7% (but only on deposit with
ORGANIZATION .-Organized in Illinois Jan, 16 1899. Successor on
the trustee of the 1st Lien & Ref. Mtge. of an equal par
Feb. 3 1899 (per plan in V. 67. p. 126) to the Railroad Co. sold under foreamount of such obligations as may by the terms of such mortclosure on Jan. 4 1899. Franchise expires April 7 1942.
gage be deposited thereunder as a basis for the issuance of
,
x1,600,000
such bonds) ------- --- interest. 07tsta2.80 Ma ee t yx t.c.
8u , 6nd' . sturite.&
4
STOCK AND BONDS- Date.
0
19,172,500 Common.$7,500,000
(3) Capital stock (authorized $23,000,000)
x 1st Lien & Ref. Mtge. bonds may be issuable in series, with such rates Prof. 5% non-c, $9.000,000_
8.707.500 See text.
of interest, &c., as provided by mortgage.
4 g F-A
First mortgage, $10,000.0001 1898
10.000,000 Aug 1 1938
Digest of the proposed plan will be found in V. 114, p. 2358.
(21,000). gold
c*tf i Cent. Trust Co., N.Y..and G.Sherman, Ti',
Int. at Cent. Trust Co., N. Y. and Chicago.
ORGANIZATION .-orgaulzeci in 1911 to acquire stocks, bonds and
4 g J-J
other securities of the Metropolitan West Side Elev. Ry., Northwestern Ext mortgage, $5,000.0001 1901
5.000,000 July I 1938
($1,000). gold, red at 105 Northern Trust Co., Chicago, Trustee.
Elev. hit, and the South aide Elev. RR.(321,202.312 being offered for the
236.294.900 stock of these companies-see offers in V. 92. p. 1498. AL
on any interest day on 4 Interest at company's office in Chicago, or
stocks have been turned in. a small remnant of Northwest L pref. being
the
weeks' notice
Ott( Central Trust Co., New York.
bought in August 1913; V. 97, p. 728); also, if it so elects, the stocks of the Equipment trust certificates-See under Chicago Elevated Railways.
Union Consul. Elev . Ky.. Chicago & Oak lark Elev 14.. Chicago Si Ottli
The extension mortgage of 1901 covers the extension as a first lien,
Park Elev. RR. and Chicago St Elmhurst Ry., which companies are con- also 68 cars. a 3,500 h. p. engine and the new down-town terminal; the
trolled by the afore-mentioned companies. These roads operate about bonds also cover the rest of the property as a second lien, subject to the
196.33 miles of track
$10,000.000 first mtge. V. 72, p. 1080; V. 75, p. 29; V. 86. p. 1160.
Has guaranteed $498.000 bonds of Union Consolidated Elevated.
in July 1914 the National City Bank offered the 314,000,000 oid note*
(V. 98, p. 1992). the proceeds of which, together with the sale of $ .000.000
LATEST EA RNINGS.-See joint statement under Chic. Elev. Rye.
10-yr. 8% debentures and $12.500.000 bonds of the Northwestern Elev.
No separate reports now made for the subsidiary companies,
RR. were used to retire the $30,000.000 3-yr. notes which matured July 1
DI VI DENDS.-For dividend record see "Electric Railway" Section for
1914, and to provide working capital. See below under"Default, &c.
-On Apr. 24 1914 the Supreme Court affirmed the decision of &fay 1916. Dividends not now reported as all the stock is owned by
Decision.
Judge Scanlon of the Circuit Court (V. 97. p. 1425) and dismissed the suit Chicago Elevated Rys.
ROAD.- From terminal station at 5th Ave. westerly about 64 thral es
of State Attorney Boyne agalost the Met. Na est Side, South Side and Union
mi c :
a nkd
elevated railroad cos., alleging that they violated their State charter by Is. with branches; total length of road (IncludingDougAiee
iasParkbrain
li
siiag ec
extension and Garfield Park branch). 23.83 miles.
suing watered stock.
of
1919 coupons on the 37.000.0006% debentures owned, 46.99; under contract. 6.64; total operated. 53.63 miles of track,
-The July 1
Default. &c.
were not paid when due. V. 109. p. 370. Anticipating the default (V. 109, exclusive of 7.75 miles of side tracks. Standard gauge. Right of way is
D.370) made on the $13.626.000 2-Yr. 5% secured notes (originally matured owned in fee. 284 motor cars, 283 coaches and 17 miscellaneoun.




OCT., 19221

ELECTRIC RAILWAYS

31

Foreclosure.
-Judge Kohlsaat in the U. S. District Court at Chicago, on
On March 11 1905 the cars of the Aurora Elgin & Chicago Ry. began
operating over this company's lines to the 5th Ave. terminal under a traffic July 17 1913. ordered the foreclosure sale of the railroad. The amount
agreement, the Met. West Side, in turn, securing the right to the territory found to be due was e5.0g0,984 Tin to Oct 1 1922 road had not been sold
west of the 52d Ave. terminal on the Garfield Park line as far as the Des but see consolidation plan under Chicago Elevated Rys. above.
Sale of Securities.
Plaines River. about 3.3 miles of double track. V. 79, p. 1704.
-On June 20 1912 Geo. H. Church bid in for $256.000
,
-Chairman of Board. Samuel insull• Pres., B. I. Butte' the following securities formerly owned by the Chic. & Oak Park Elev. Rti.;
OFFICERS.
$859,000 Lake St. Elev. RR. 5% inc. bonds; demand notes of Chic. &
V.
Sec. & Treas.. W. V. Griffin' Aud.. T. B. MacRae; ' Pros.. FLO Woe
Oak Park Elev. RR. variously dated from April 23 1904 to June 15 1910,
-V. 107, p. 1287; V. 115, P. 1532.
Office, 72 West Adams St., Chicago.
aggregating $1,989,528: $5.850 Lake St. Elev. RR. inc. bonds scrip. At
Sheriff's sale in New York on Jan. 26 1912. Mr. Church bid in for $2.000
(2) Northwestern Elevated RR.
- all title of the Ry.Co.in the foregoing bond and notes, also some
Ordinance Embodying Unified Operation of Surface and Elevated Lines.
$473.000
additional notes of the Railroad Co., and in certificates for 91.651 17 Bee Chicago Elevated Railways above.
-40
-See Chicago Elevated Rys. above.
shares of Chic. & Oak Park Elev. RR. V. 94. p. 1763.
Proposed Consolidation.
The Chic. & Oak Park Elev. Ry. was tricorn. in New Jersey on April 22
ORGANIZATION.-Incorp. in Illinois. Road was formally opened
Franchises extend beyond 1904 to hold the securities of the Chicago & Oak Park Elevated Railroad
for business on May 31 1900. V. 70. p. 1049.
Co., formerly the old Lake Street Elevated RR., reorganized per plan in
the maturity of the bonds.
• in Sept. 1901 the Union Elevated RR. was acquired. The Chicago Ele- V.77. p. 1874; V. 78. p. 1392. Northwestern Elevated owns 51% of stock.
vated Rys. provided the cash to take up the $18,000,000 Northwestern Franchise expires in 1930.
Elevated 1st 4s which matured Sept. 1 1911.
STOCK AND BONDSDate, Interest. Outstanding. Maturity.
On Aug. 21 1911 stockholders authorized $25,000,000 1st M. 5s (V. 93. Stock
$10.000,000
p. 527). None of these bonds sold at the time, but in July 1914 $12.500,- Lake St El 1st M,$5.000,000,1 1893 5 J-J
4.993.000 July 1 1928
guar by N W El
000 were sold (V. 98. p. 1920) to a syndicate of bankers and subsequently
tit Cont' & Comml. Trust & Say. Bank, Chic.,
by them.
disposed of
( and Central Tr. Co. of Illinois, Chic., true.
Interest. Outstanding. Maturity. Income mtge, $1.000,000_ --STOCK AND BONDS- Date.
5%
128.600
Equipment notes
Common stock. $5,000,000___
$4,946 400
151.000
Real estate intges
M-S
4.944.400
See text.
6,862
Prof stk,5% n-c. $15.000.000_
12.708,000 Sept. 1194) Receiver's cent's. $2,250,0005 g M-S
2,097,000
let M $25,000.000 red as a 1911
whole at 102 & int on 30(111. Tr. & Say. Bk. trustee, under mtge.
Bonds.
-First mortgage bonds assenting to reorganization were stamped
'
days' notice ($1,000)_c*tf Central Tr. Co.. N. Y., trustee und. sup. M
subject to call at 105 and int. on any interest date. The old income bonds.
Equipment trust certificates of 1914-See under Chicago Elevated Railways with the exception of $128.600, are held in treasury of the railway company.
The 1st M. bonds are an absolute first lien, subj. only to the Union Elev.
ROAD.
-Owns a double track elevated railway from Fifth
RR. 1st M. 5s; also secured by deposit of $528,000 Union El. 5s. The re- Lake Street to 52d Si. and Lake St., with spur down Market St.Avenue and
to Madison
maining $12,292,000 Northwestern bds. may be issued only for cash cost of St. Trains began running around the loop In
betterments, extensions and add'ns acquired after July 1 1914 under certain Harlem forms an extension comprising 4 miles moreOct. 1897. Chicago &
of double track. Total
conditions. Sinking fund of 1% outstanding bonds payable annually single track, 22.66 miles. 186 passenger cars: 4 miscellaneous
cars.
began Sept. 11919. $811.000 bonds in sinking fund 0,;t 1 1922. Bonds
REPORT.
-For years ending June 30 for Railroad Co. (1919-20 and
In sinking fund are held alive.
1920-21 earnings are included in consolidated statement under Chicago
LATEST EARNINGS.
-See joint statement under Chicago Elev. Rys. Elevated Railways on a preceding page):
No separate reports now made for the subsidiary ccmpanies.
YearGross.
Net.
Other Inc. Charges.
Dividends.
-An Initial div. of I% was paid on pref. Oct. 18 1909 and 1%
Deficit,
1918-19
$1,027,895
$58,459
$6,159 $522,655 $458.038
guar. to April 1911; none thereafter to March 1912, when 2% was paid
1917-18
949,753
189,107
4,304
Dlys. not now reported, as entire stuck is owned by Chicago Elevated Rys.
507,801
314,390
1916-17
938,288
259,122
4,496
484.221
220.603
-Miles of single track: Owned. 45.01 m.• operated under con- 1915-16
ROAD.
873.267
222.310
4,198
449.967
223.459
tract, 16.60 in.; total. 61.61 m.(of which 9.28 m.side track). Right of way 1914-15
'
843,682
240,288
4,362
433.845
189,195
all owned in fee except at street crossings.
Is
RECEIVER.
-Samuel Insull.-V. 99, p. 1213; V. 105. p. 2271; V. 107.
Under an operating agreement with the Chicago Milwaukee & St. Pau
Railway Co. made in l907. this company's service was extended May it p. 1286.
tees to Evanston over the Evanston Division of the former road. SerUNION CONSOLIDATED ELEVATED RY.
vice on new track elevation to ollininate grade crossings was commenced
Jan. 6 1916 on this division. Entension to
ilmette opened April 1912
Ordinance Embodying Unified Operation of Surface and Elevated Linm,
All track oper. (incl. loop). 66.33 miles. 80-lb. T. rails. 230 motor cars -See Chicago Elevated Rys. above.
202 coaches and 4 miscellaneous cars.
ORGANIZATION.
-Formed in 1896 and built from
OFFICERS.
-Same as for Metropolitan West Side Elev. Ry.-V. 100. 5th Ave. west to Market St.: thence to Metropolitan Union Elevated as
W. S. El.; total
p. 1350; V. 105, p. 2273; V. 107. P. 1004, 1288; V. 115, p. 1210, 1533.
1-5 mile of track: is operated by the Metropolitan West Side El. Franchise
expires Oct. 7 1945.
(a) Union Elevated Railroad.
•
On
Ordinance Embodying Unified Operation for Surface and Elevated Lines.
- ney July 7 1914 Judge Windes in the Circuit Court held that State AttorBoyne should be prevented from proceeding against the company on
See Chicago Elevated Railways above.
Is used by all the Ohicago elevated roads and is owned by Nortnwestern the ground of overcapitalization. See item under caption of "ChIcatim
Elevated RR.; receives 3-6c. for each passenger carried (payments guaran- Elevated Rys." in V. 97. D. 1425. and also see V. 99. D. 199,
teed to amount to not less than $250,000 per annum) besid?s all expenses
STOCK AND BONDSDate, Interest. Outstanding. Maturity.
for operating, repairs and taxes, except for maintenance of the elevated Stock
$1.000.000
steel structure. The Union Elev. RR. is obliged to pay to the City of' Chi- Series "A" 1st mtge. gold,1 1896 5 g M-N
453,000 Nov 1 1930
cago each year a certain percentage of its earnings in excess of $250.000 per
gu P &I by Met W S El _ c nt f G.Sherman, V.
-P.Cen.Ti. Co.. N.Y..Trust
annum, as follows: 1897 to 1901, 5%; 1902 to 1906, 10%; 1907 to 1916
Mertgace $1 060,000, of which ¶500,01)0 series "A." V. 63, p.
1065.
15%; 1917 to 1933, 20%,and thereafter 25%. Franchises expire in 1945.
Of the $500.000 Series "A" bonds, $453,000 are outstanding,
$45,000
Earnings.
-See V. 115, p. 1733.
are in treasury and $2,000 unissued.
BONDSDate.
Interest. Outstanding.
Maturity
OFFICERS.-Pres., Samuel Insult; V.
-P., Gilbert E. Porter; Sec. and.
iwa.35,000,000,g($i,000)ept 1895
5 g A-0
$4,472,000 Oct 1 19V Treas., W. V. Griffin.
-V. 99, p. 199; V. 107. p. 1288.
Interest at Chase Nat. Bank. N. Y.. and III. Trust & Say. Bank. Chicago
-Of the $5,000,000 bonds issued. $528.000 are deposited as se
Bonds.
curity for the $12,500.000 Northwestern Elev. 5s.
CINCINNATI, OHIO.
-The loop is 2.12 miles in length, double-tracked (80
ROAD.
-lb. rails)
CINCINNATI GEORGETOWN & PORTSMOUTH
and runs on Lake St. to Wabash Ave.. to Van Buren St.. to Fifth Ave., tc
RR.
Lake St. Road epened Oct. 10 1897. Trains of the Chicago & Oa:: Park
ORGANIZATION.
-Formerly a narrow-gauge stezua
Metropolitan West Side. Northwestern Elevated RR. and South Side operated by
electricity. Under Ohio law remains a steam road, but now
operate over the loop. Northwestern Elev. also owns .15 mile of double franchise limitations
and is located on private right-of-way. road. Has no
track from connection with lop at Van Buren & State streets to connectfor entered into a
management akreement with the Felicity &In Sept. 1911
with South Side El. RR., which is leased to the latter. V. 114, P. 2719; and the Ohio River &
Bethel RR.
Columbus RR.(a steam
V. 115, p. 1733.
Jan. 1 1914, however, management changed and road). V. 93, p. 796. On
the Ohio River & Columbus
was again divorced from the other two
South Side Elev. RR.
-("Alley Elevated").
(3)
-An electric elevatee
roads. Has contracts to supply
electric current for municipal distributing
road.
systems of Georgetown and
Bethel, Ohio,
-See Chicago Elevated Rys. above.
Proposed Consolidation.
.
STOCK AND BONDS- Date,
ORGANIZATION .-Successor January 1897 to Chicago & South Side
Interest. Outstanding, Maturity.
R.T. RR.(foreclosed per plan V.63. p. 1158). July 31 1900 the Appellate Stock. $1,500,000
$1.500,000
let mtge. $1.000,000, gold 1902
Court sustained the validity of the foreclosure (V. 71, p. 236). and on Feb
5 g J-J
1.000,000 Jan 1 1932
($1.000)
Int.at Union Say. Bk.&Tr..Cin..Tr..drin
21 1902 that decision was concurred in by the State Supreme Court. V. 74
N.Y
Franchise expires March 26 1938. Leases the-Chicago Junction Fel & Beth let M $100.000, g 1905
5 g A-0
p. 477.
100.000
($1.000). not callable_ c* Int. at Union Say. Bk. & Tr., Oct 1 1935
RR., which see below.
Ctn., Trustee
.
ROAD.
-Operates 53.7 miles from Cincinnati
STOCK AN I) BONDSDate.
Interest. Outstanding. Maturity
stile. including branches of 3.5 in. to Batavia and southeasterly to Russel_ _
Stock, $10,231,400_
Q-M
$10.231.400
The Felicity & Bethel has 8.5 in. of track between 1.5 m. to Coney Island.
g J-J
the points named in Its
First mortgage- $8:000.000,1 1964
8,000.000 July 1 1924 title.
c*tt f Int. at III. Tr. & Say. Bank. Chic.. Trustee
gold 11,000)
Equipment trust certfs.-See under Chicago Elevated Rys.
OFFICERS.-Pres. & Treas., L. G. Van Ness; V.-Pres., Thos.
Elliott;
-Are subject to call at 105 and interest.
Bonds.
Sec., Chas. T. Do Hore; Gen. Mgr., F. A. Nichols.
-V. 106, P. 295.
Dividends -See"Electric Railway" Section for May 1916. Dividends
now made public, as entire stock is owned by Chicago Elevate() Rye.
not
CINCINNATI LAWRENCEBURG & AURORA ELECTRIC
-See joint statement under Chicago Elev. Rys. No separate RR.
REPORT.
STREET
-A trolley road.
reports now made for subsidiary cos.
Receivership.
-The company having suffered damage from the 1913
-Owns elevated road in operation in Chicago upon a purchased Judge Warner at Cincinnati on
ROAD.
flood.
right-of-way from Congress St. to Jackson Park and to Englewood. Elec- Florida, receiver on application June 23 1913 appointed F. B. Shutts, of
of
tricity was introduced as motive power late in April 1898. Operates 430 loaned the company $125.000. V.Pros. J. C. Hooven, who, it is stated.
96. p.
motor cars, 52 coaches and 14 misc. cars. On 16.15 miles of structure has Hooven was appointed receiver upon the1839. On Dec. 28 1914 0. E.
resignation
a total of 35.99 miles of single track main line incl. 6.31 m. leased. Alms Subsequently Edgar Stark was appointed co-receiver. of F. B. Shutt°.
miles of side-track, making total track 45.96 miles.
Plan To Lift Receivership.
has 9.97
-See V. 114, p. 2115.
OFFICERS.
-Same as for Metrop. West Slide
Ry.-V 93, p. 528
ORGANIZATION.
-Incorporated in Nov. 1898.
Franchise.
V. 105, p. 2273; V. 107, p. 1005; V. 114, p. 2826; V. 115, p. 1533.
-In June 1920 time company was granted a two years' emergency franchise authorizing Increased fares in Addyston, Cleves
and North
(a) Chicago Junction RR.
Bend. V. 111, p. 73.
ORGANIZATION.
-Organized in the interest of the South Side Elevated
New Company To Operate Extension.
RR. to build lines to connect that company's track with the Stock Yards Terminal & Ry. Co. was incorp. in Ohio -In May 1922, the West End
with a cApital of $10,011 to operate
Only a nominal amount of stock has been issued ($50.000). which is held in the proposed extension from
Anderson's Ferry to the Dixie Terminal. 6'4
trust for the South Side Elevated in case that company should at any time miles. The cost has been estim
tted at approximately $753,000. V. iii, 1)•
absorb it. Is leased to the South Side Elevated for 50 years (with 2240.
wish to
Compare V. 113, p. 2504.
right to purchase at cost within 20 years). rental being interest on bonds.
Fares.-EffectIve July 9 1920 the co. was auth. by the Ind.
taxes, &c. Franchises are without limit.
Increase its city fare from Sets.to 7 cts. and to sell tickets for P. S. Comm.to
50 cts. Auth.
Date. Interest. Outstanding. Maturity
STOOK AND BONDSwas also granted to Increase faies from Lawrenceburg to Aurora
from 10
See text.
Stock
cents to 12 cents. V III. p 294.
'
$2.327.000 Mch. 1 1945
1st mtge. $2,327,000. gold 1905 4 g M-S
The $750.000 1st mtge. 55, due July 1 1919, had not been paid up to
41,000). guar p & I_ _ _c* I First Trust & Say. Bank. Chicago, Trustee
April 1
-Are subject to call at 105 and int. In event of consolidation with but see 1922. No nlan of reorganization had been formulated to that date.
Bonds.
V. 114, p. 2115.
South Side Elev., this issue of bonds is to be retired. V.80, p. 871. Bonds
STOCK AND BONDS- Date.
Interest. Outstanding. Maturity.
are guar.. p.& I.. by Chic. Junc. Rye. & tin. Stk. Yds. Co. See V.82, P. 568
Common,$750.000
$750.000
ROA13.-ConsIsts of an elevated road (from junction with South Side Pref.6% cum. 3250,000-----Q-J
Street) to the Stock Yards. and a loop around the same, 3.61 First mortgage, $750,000-1
"L" at 40th
1899
5 g J-J
758;09 0 July 1 1919
5 00
0
miles. Was completed In May 1908.
($1.000). gold
'Interest at Un. Say. Bk. & Tr. Co.. Ctn., Tr,
Receiver's certificates
-P., H. E. Poronto: Sec.. Thorn
OFFICE RS.-Pres.. A. E. Rawson; V.
44,130
-V.
STOCK.-Pref. stock was Issued for money assessed on capital
hill Broome; Treas. & Asst. Sec.. J. W. Austin; Aud., 0. C. Chace.
stock.
No Interest has been paid.
87. P. 346.
EARN INGS.-For calendar years:
OAK PARK ELEVATED RR.
CHICAGO &
YearGross.
Net,aft.Taz Bond Int.
Balance.
Ordinance Embodying Unified Operation of Surface and Elevated Lines
1921
$180.975
$31,214
$39,296
def. $8,082
-see Chicago Elevated Rys. above.
1920
176,596
42,414
37.500
sur. 4.914
-See Chicago Elevated Rys. above.
Proposed Consolidation.
ROAD.
-Operates 31.97 miles of track from Andersen's Ferry,
Receicership.
-On Nov. 13 1911 Judge hone-mat appointed Samuel
at CinInsult receiver for the Railroad. V 93. p. 1386. On Dec. 29 1911 re- cinnati, to Aurora. Harrison and Lawrenceburr:.
OFFICERS.-Recelvers, C. E. Ilooven and Edgar Stark;
ceiver was authorized to issue $2,000,000 receiver's certificates for improveGen. Mgr. fo
ments. V. 93, p. 1785. In Jan. 1912 Francis V. Dobbins of Rahway. receivers. L.(4. Van Ness.
-V. 109. p. 1272: V. 110 p. 1415; V
294, 1277; V. 113, p.959, 2504; V. 114, p. 2115, 2240; V. 115, p. 111, p. 73
N. J.. WU appointed receiver for the Railway Co. V. 94. p. 123.
182.




32

ELECTRIC RAILWAYS

CINCINNATI MILFORD & BLANCHESTER TRACTION CO.
ORGANIZATION.-Incorp. in Ohio on Oct. 24 1918 as successor to
the Cincinnati Milford & Loveland Traction (sold to the bondholders for
$136.000;for history see this publication for May 1918). The new company
has an auth. capital stock of $400,000. Earnings for cal. year 1921. gross,
$135,717; net, $54,402; int., taxes, &c., $46,204; bal., surp., $8,197.
ROAD.-Trank owned, 32.58.-V. 107. P. 1836; V. 109, p. 1986. V.
110, p. 167; V. 113. p. 1771.
-A tralley road.
INTERURBAN RY. & TERMINAL CO.
-On Oct. 11914. on application of the Westinghouse Elec.
Receivership.
& Mfg. Co.. a creditor for $2,500. Charles S. Thrasher of Cleveland and
Charles M. Leslie of Cincinnati were appointed receivers. The Westinghouse Co. charged that the company had defaulted in the payment of interest on its bonds and is insolvent. The company Joined in the application. See V. 99. p. 969 and 1052.
-Service was discontinued
Service Discontinued-To Be Dismantled.
March 25 1922. In May 1922 Judge John A. Caldwell of the Hamilton
County Common Pleas Court auth. the receiver to dismantle the properties
and sell same for junk. The proceeds are to be used to apply to the claim
of the bondholders. V. 114, P. 2241.
-Incorporated in Ohio on Nov. 3 1902 and Is a conORGANIZATION.
solidation of the Cincinnati & Eastern Electric Ry.. the Rapid Railway Co.
the Suburban Traction Co. and the Interurban Term. Co. In July 1907
obtained authority to issue $1,000,000 pref. stock, of which 8900.000 was in
exchange for an equal amount of 1st mtge. bonds dated 1903. V. 85, p.
221, 469. The 1903 bond issue was canceled. In 1908 a new mortgage
made, as below.
Fares.
-In Feb. 1918 the Ohio P. U. Comm. auth. the co. to increase
tares from 2 to 234 cents per mile. In July 1918 the receivers applied to
the County Commissioners of Hamilton County, 0., for a revision of the
franchise granted by the county so as to remove restrictions as to rates
of fare. V. 107, p. 291. 802.
Decision.
-On Nov. 26 1917 the Court of Appeals at Cincinnati, reversing
the order of the Court of Common Pleas, held that the receivers have
no auth. to abandon the franchise between Cincinnati and Bethel as proposed. See V. 105, p. 2272
Dismantlement.
-In 1919 the tracks and overhead of the Suburban
Traction Co. were dismantled and sold for junk.
It was reported early in 1922 that the co. had been auth. by the Ohio
P. U. Comm. to abandon its two lines, one from Cincinnati to Lebanon, 33
miles, and the other (torn Cincinnati to New Richmond, 22 miles. V.
114, p. 1533, Compare V. 114. p. 79.
Settlement with Cincinnati Trac.Co.-See under that co. in V. 112, p. 2189
Interest. Outstanding. Maturity.
STOCK AND BONDS- Date.
Common,$2,500,000 ($100)$2.500,000
1,000.000
Pref $1,000.000 ($100) 5%
5 J-J
First mortgage, 81.650.000.f 1908
See text.
1928
at Citizens' Say. & Tr. Co.. Clev.. Trust
gold
tflInt.
Bonds.
-Only $122,500 of bonds were actually issued, the remainder
being used as collateral for loans.
Earnings -For the year ending Dec. 311920, gross, $230,445; net, after
taxes, def., $22,394. In 1919. gross, $212,653; net, after taxes, def..
$16,053.
ROAD.
-Extends from Cincinnati to New Richmond,22 miles, and from
Cincinnati to Lebanon, 33 miles. Owned trackage, incl. second, main,
sidings, &c., 52 mites. Operated trackage, incl. traffic arrangement in
Cincinnati, 74 miles: Gauge, 5 ft. 2 in. Cars enter Cincinnati over the
tracks of the Cincinnati Traction Co. 70-1b. and 97-lb. T rail.
OFFICERS.
-Receiver. C. M. Leslie; Pres., Geo. H. Worthington:
V.
-P., J. M. Hutton; Sec. and Treas., J. P. Egolf, And., C. W. Peck.•. 107, p. 291, 402, 802, 1101; V. 114, p. 79, 2241.
OHIO TRACTION CO.
ORGANIZATION.
-Incorporated in Ohio on May 22 1905 and owns
practically the entire capital stock of the Cincinnati Traction Co. and
Cincinnati Oar Co. On July 6 1905 lease of the Cin. & Hamilton Trac. Co.
was assigned to this co. by the Cin. Interurban Co. and the latter company
placed in liquidation. This company also acquired the property of the
Traction Building Co., which went into liquidation.
Refinancing Plan.
-In Jan. 1920 the Ohio P. U. Comm. approved a
modified plan of refinancing already approved by the stockholders which
provided for (1) an issue of $3,750,000 7% Ohio Trac. Co. notes ($2,250,000
issuable immediately), to be retired in 3 years through a sink. f ,nd;(2) an
issue of $2,250,000 Chic. Trac. Co. 25-yr. 6% debentures. These debentures were used to reimburse the Ohio Trac. Co. for moneys advanced the
Cincinnati Trac. Co. for improvements and to provide for the $250,000
reserve fund required by the franchise ordinance. $2,000,000 of these
debentures are held by the trustee as security for the issue of 3
-year notes.
The proceeds of the sale of the notes were used to pay the city the deficit
of $597,000 in franchise tax due it; to provide for the taking up of an issue
of $233,000 outstanding notes; to pay off $1,073,000 in bank loans and to
pay for impts. already made. V. 110, p. 77, 562.
The above plan permitted the co. to continue to operate on a 7-cent fare.
Under the terms of the Cincinnati traction ordinance fares would automatically have increased to 73l cents on Jan. 1 1920 had not this plan been
adopted. V.110, p. 77. Compare V. 109, p. 2171, 2356. In March 1922
cash fares were 8 cents, but tickets were sold at 7Ji cents. See under
Cincinnati Tr. Co. below.
-V. 111, p. 1279.
Report for Year 1919 by Dept. of Street Railroads.
Decision Placing All Lines in Cincinnati under Service-at-Cost.
-V. 111. p'
1567.
Date.
Interest. Outstanding. Last Div.
STOOKQ-J
(3100)_
$8,655,000 See text.
Common,$10,000,000
Q-F
8.500,000 See text.
Pref, $10,000,000, 5% cum_
2.500.000
5g
1936
First mtge, $2,500,000, gold.1 1911
}Int. at Fidelity Trust Co., Phila., Trustee.
sinking fund ($1.000)
2,961.000 Jan 1 1923
Coll trust notes 33,750,0001 1920 7 g J-J
tf f Int.atUnion Say.B.&Tr.Co..Cinc.,Trustee.
($1.000) g
-Further issues of stock can only be made for acquirement of
Stock.
other properties and additions to the present properties.
-First mtge. covers holdings of stock of the Cincinnati Traction
Bonds.
Co. and Cincinnati Car Co. owned and controlled by Ohio Trac. and all
other property and franchises. Bonds are redeemable as a whole or in part
for sinking fund on any lot, date at 103 and int. Sinking fund provides for
retirement of bonds at maturity. V. 92, p. 726. Amount in sinking fund
Jan. 15 1922. 3790.000.
-Secured by pledge of 19.989 shares of Cinc. Trac. Co. stock,
Notes.
14,995 shares of the Cincinnati Car Co. stock, $2,000.000 6% debentures
of the Cinc. Trac. Co. and the Traction Bldg. in Cincinnati (subject to
$1,710,000 bonds). The remaining 7 per cent. notes may be issued for
impts. under certain restrictions. A retirement fund of $650,000 annually
has been established to be deposited with trustee to purchase notes monthly,
at the lowest price offered, or by lot at the call price. These notes will be
retained by the trustee and kept alive as additional security for any outstanding notes and the accruing int, will be used to purchase additional
notes from year to year. Call, all or in part at 101 and int. any dine on
4 weeks' notice. V. 110. p. 562.
Dividends.
-First div. on pref. stock-11%-Was paid Aug. 1 1905
and same rate paid guar. to and incl. Nov. 1915. The Feb. 1916 div. was
See Pres. Schoepf's letter in V. 102. p. 437. On Corn., first
deferred.
div.-1%-paid Nov. 11909. In 1910. Oct., 1%. In 1911. July. 1%;
Oct., 1%. In 1912, 4%. In 1913, Jan., 1%; April, 1%. None since.
Fixed
Balance,
Net
Gross
EARNINGS.Charges.
Surplus
Income.
Income.
Calendar Year$293,467
$705,647
$999,113
$1.149,287
1921
258,018
691,155
949.173
990,976
1920
-P., Walter A. Draper;
OFFICERS.-Pres., W. Kesley Schoepf; 1st V.
-P., & Treas., H. L. Sanders;
H. Schoepf; 3d V.
2d V.
-P. & Chief Eng., T.
Sec., J. W. Nicholson; Asst. Sec., D. J. Downing; And., E. J. Boos; Gen.
Mgr., A. Benham.
-V.103, p. 759; V. 104,p. 1593' V. 107, p. 803; V.108,
p. 873, 2630: V. 109. p. 776; V. 110, p. 562; V. 111, p. 1279, 1370, 1567;
V. 112, p. 1742, 1867; V. 114, p. 1891.
(1) The Cincinnati Traction Co.
ORGANIZATION.
-Incorporated in Ohio on Feb. 19 1901 with an auth.
capital stock of 32.000.000 (which, all except 11 shares, is owned by the
Ohio Trac. Co.), to take over under lease the Cincinnati Street Ry. Co.
See V. 72, p. 391.
Has 20-year contract, effective Sept. 1 1921, with Cincinnati Gas & Elec.
Co.. which supplies one-half the co.'s electrical requirements. V.113,p.531.




[Vol,. 115.

Franchise Ordinance.
-On Aug. 23 1918 the Cincinnati City Council
passed a revised franchise, which went into effect upon Sept. 23 1918. The
franchise was signed by the Mayor, and thereby became a law, it having
been decided that the revised franchise would not be submitted to a referendum vote. V. 107. p. 1191. The ordinance modifies the company's 50year franchise granted in 1896 as permitted at the end of 20 and 35-year
periods and contains the following main features:(a) City control over service, extensions and all features of operation. (b) A sliding scale of tares
based on the cost of service with 5 cents as the initial fare with universal
transfers. (c) Company is to establish a reserve fund of $400,000 through
surplus earnings. When the reserve fund reaches $650,000 an automatic
reduction of ii cent in the rate of fare will take place. On the other hand
if the reserve fund should be reduced to $250.000 the rate will automatically
increase ;•i cent. (d) A fixed return to the company on its investment.
(e) When the rate of fare is 5 cents or less the company may retain 45%
of the surplus, the remaining 55% going to the reserve fund; when the
rate is increased to 5; cents the company s share of surplus will be reduced
,
6
to 30%, and when 6 cents is reached the company may retain only 20%;
when the rate of fare exceeds 6 cents the entire surplus is to go to the
reserve. (f) Franchise tax of $350,000 per annum to be paid to the city.
(g) City to have right to purchase the property of the Cinc. Trac. Co. and
the Cinc. St. Ry. either by condemnation or at the agreed valuation of
:530,856,950. For further details see V. 107. p. 802. 1003, 1287; V. 110,
p. 561.
Fares.
-On Jan. 1 1919 the original 5-cent fare provided for under the
above ordinance being found inadequate, the rate was increased to 53
cents, and on April 1 1919 the rate was increased to 6 cents, being the next
higher scale under the above franchise ordinance. V. 108, p. 1274. On
July 1 1919 the 64-cent scale went into effect and on Oct. 1 1919 the fares
were increased to 7 cents. V. 109, p. 370, 1179. A further increase in
fares on Jan. 1 1920 was prevented by the adoption of the refinancing plan
given under Ohio Trac. Co. above. V. 110, p. 77. On June 1 1920 fare
was raised to 73 cents ticket and 8 cents cash. On Sept. 1 1920, however, fares were raised to 8 cents. V. 111, p. 1082. On Dec. 1 1920
fares were raised to 8li cents
V. Ill, p. 1919. The co. announced a
further advance to 9 cents, effective Mar. 1 1921. but was enjoined from
putting the increased rate into effect by a temporary injunction obtained
by the city. V. 112, p.932.1885. Subsequently the City Council passed an
ordinance modifying the co.'s tranchise and as a result fares were reduced
half a cent to 8 cents on Aug 1 1921. The Superior Court ruled against
petition for a referendum on the amended franchise ordinance. V. 112.
p. 2747; V. 113, p. 531, 959, 1573. Compare V. 113, p. 416. Effective
Nov. 1 1921, fares were further reduced from 8 to 74 cts. V. 113, p. 1887.
On Jan. 13 1922 the City Council passed another amended franchise ordinance similar to the previous one except that the 6 mos.' period during which
the franchise tax was not to be considered a factor in rate-making is extended
to oneyear. V. 114, p. 305.
Ordinance Upheld.
-On April 3 1919 Judge Frank R. Gusweiler in the
Superior Court at Cincinnati upheld the city franchise ordinance. V. 108,
p. 1511.
Rerouting Ordinance.
-V. 114, p. 1650.
Taxpayers' Suit,&c.-On Mar 29 1921,a taxpayers' suit seeking the forfeitur16 the co.'s franchise was filed in the Common Pleas Court. V. 112.
p 16 e of

-V. 111. p. 1273.
Report for Year 1919 by Dept. of Street Railroads.
-See V. 112. p. 2189.
Settlement with Interurban Ity. (C.: Term. Co.
-See V. 112, p 1616.
Refinancing-Possible Reorganization.
Date.
interest. Outstanding. Maturity.
NOTESSee text
1920 6%
1945
Debentures 32.250.000
See text
Equip notes Series "E" 3200,- 1914
30,000
5 g M-S
000 gold 41.000)
c* Fidelity Tr. Co., Phila.,
Equipment notes Series "F" 1917
5 g F-A
275,000 See text
Fidelity Trust Co., Philadelphia, trustee.
$550.000 gold
Equip notes Series"G-1" 31,-f 1919
6 g A-0
See text
650,000
000,000 ($1,0001 gold___c* Fifth-Third Nat. Bank, Cinc.. 0., trustee
Equipment notes Series "0-2") 1919
6 g A-0
75,000 See text
$250.000 _
. __
___. Fifth-Third Nat. Bank. (Inc., 0.. trustee
Eq. notes ser."II-I"$725,0001 1922 6 g J-.1
.
See text
725,000
($100, $500 & $1,000)___tffNorthern Trust Co., Chicago, trustee.
Equip. notes series "H-2"____ 1922
See text
6%
242,000
$2.000,000 of the debentures are pledged as collateral under the Ohio
Trac. Co.'s 3-year 7% notes and the remaining $250,000 are held by the
Treasurer of co. as initial payment into reserve fund. V. 110, p. 561.
Series "E" covers 60 double-truck trailer cars and mature $10,000 s.-a.
from Aug. 31 1914 to Feb. 29 1924. V. 98, p. 689, 999. Series"F" covers
100 double-truck cars and matures semi-annually $27,000 on Jan. 31 and
$28.000 on July 31. Series "0-1" are a first mtge. on 105 double-truck
cars and mature $50,000 semi-ann. (A. & 0.) to April 11929. Series"G-2"
are a second mortgage on the same equipment and mature $25,000 semi-ann.
each Apr. and Oct. 1 to Apr. 1924. Series "11-1" mature $72,500 annually
July 1 1923 to 1932, both incl. Red. all or part on 30 days' notice at 101
and div. for certificates having more than 5 years to run from date of redemption, and at 10034 and div for ctfs. having 5 years or less to run.
Penna. 4-mill tax refundable. Divs. payable in N. Y. or Chicago. V.
115, p. 759. Series"II-2" mature $48,400 annually. Northern Trust Co.,
Chicago, trustee.
REPORT.
-For years ending Dec. 31:
Years
Gross. Net after Tax. Rentals. Interest. Bal. Surp.
1921
88,885,632 52,314.169 $1.234,937 $510,817
$568.415
1920
8.978.501
2,016,077
1.234,937
508,251
272,889
ROAD.
-The Cincin. St. Ry. comprises 230.95 miles of track in the city
of Cincinnati, Ohio, extending also to adjoining suburbs. Gauge, 5 ft.
23-6 in.
OFFICERS.
-Chairman Executive Comm. and Pres., W. Keeley
Schoepf; 1st V.
-P., Walter A. Draper; V.
-P. & Chief Eng., T. 11. Schoepf;
V.-P. & Treas..11. L Sanders; Sec., D. J. Downing; Arid., E. J. Boos; Gen,
Mgr., A. Benham.
-V. 113, p. 416, 530, 959, 1573; 1887, 1982, 2078, 2184.
2818; V. 114, p. 305, 409, 1650, 2716; V. 115, p. 435, 759.
-Electric.
(a) Cincinnati Street Railway.
Was leased on Feb. 21 1901 to the Cincinnati Traction Co. for the unexpired term of the franchise granted by the City of Cincinnati on Aug. 13
1896, and all successive renewals and extensions of the same. The rental is
Intended to provide dividends of 5). % for the first year, 5ii % for the second,5j% for the third and 6% for the fourth year and thereafter. V. 72.
D. 136. Franchises. It is claimed by company, mature April 22 1946.
Favorable Tax Decision.-In June 1915 the U. S. Circuit Court of Appeals
at Cincinnati, reversing the lower court, hold that the Governmeut was
obliged to return to the Cincinnati Street Ry., Dayton & Western Trac. Co..
Columbus Newark & Zanesville Elec. Ely., Ft. Wayne Van Wert & Lima
Trac. Co. and Indiana Columbus & Eastern Trac. Co. about $100.000
collected from these companies under the old Federal corporation tax law.
The question at issue was whether these companies carried on business
within the meaning of the law, having leased their properties to other corporations, and the only business done by them being to collect and pay out
the rentals under the leases. The Court held that they transacted business
only incidentally to that of the lessor companies. V. 101, p. 212.
-See Cincinnati Trac. Co. above and in V. 103. p. 578.
Valuation.
-See Cincinnati Traction Co. above.
Lease of "Loop."
Agreement to Loan $650,000 to Cincinnati Traction Co. for Impts.-For
particulars see V. 113, p. 416.
-Incorporated June 21 1880 and in 1896 purchased
ORGANIZATION.
Sit. Adams & Eden Park and Mt. Auburn roads.
Interest. Outstanding. Last div„dec.
Par.
STOCK AND BONDS$18,738,950 See text.
Stock. $20,000,000
$50
6 Q-J
Dividends.
-To and including April 1901, 5% per annum; July 1 and
1.3125% each; July 11902, Oct. 1
Oct. 1 1901 and Jan. 1 and April 11902,
1902, Jan. 1 1903 and April 11903, 1.375% each; July 1 and Oct. 1 1903
and Jan. 1 and April 11904. each 1.4375%; July 1904, 1 %; Oct. 1904.
1 q %. Dividends since have been at the rate of 6% per annum and will
so continue to the end of lease and its renewals.
OFFICERS.-Pres., B. L. Kilgour; Vice-Pres., Samuel Assur; Sec. &
-V. 108. p. 1511; V. 112, p. 1282; V. 113, p. 416.
Treas.. A. J. Becht.
-A trolley road.
(2) Cincinnati ec Hamilton Traction.
-This company was organized in Aug. 1902 as a
ORGANIZATION.
consolidation of the Mill Creek Valley Street Ry. and the FiamiltonGlendale
& Cincinnati Traction. V. 75. p. 497. On Sept. 30 1902 was leased to the
Cincinnati Interurban Co. (V. 75, p. 906), but on July 6 1905 lease was
assigned to the Ohio Traction Co. and the Cincinnati Interurban Co. placed
In liquidation. Rental. yvear end. Sept. 30 1903, 355.000. Increasing to
$100.000 for 1915-16 and thereafter.

OCT., 1922.]

ELECTRIC RAILWAYS

33

Early in 1921 the Cleveland City Council refused to permit the sale of
Columbus held
On July 9 1914 Judge Sater in the U. S. Dist. Court at
providing $3.000,000 additional cap, stock at 80.
Invalid the ordinance passed by the City Council on Apr. 27 1914,and Hartfor a 5-cent instead of a 10-cent fare from Cincinnati to Carthage
Outstanding. 1.1'aturi4e
Date. Interest.
its enforcement
STOCK AND BONDSwell (see V. 98, p. 1392). and granted an Injunction against
See text
$28,926,500
Q-J
Stock $35,000,000 ($100)...____
V.92.p. 190.
5,495,000 Mch 1 1931
5 M-S
First mortgage $35,000,000 g I 1911
New York City or Cleveland.
and outstanding, common. $1,100.000; 5% cumulative
STOOK.-Auth.
c*tflInterest in
($1,000)
-J.
Q.
pref., $1,100,000. Par of shares. $100. Divs. payable
-Of the first mortgage of 1911,$15,000,000 auth. may be Issued tor
Bonds.
stock. The first
-5% per annum is being paid on the pref.was again paid on 85% of cash cost of extensions, betterments. &c., and remaining bonds for
Dividends.
and 4%
Cliv. on the com. of % was paid Jan. 1 1904 in 1906. 134 %: In 1907.2%; 50% of such cash cost, when net earnings for previous 12 mos. shall have
April 1. July land Oct. 11904. In 1905.1%; 1911 and 1912. 3%; since, equaled at least twice the int. charge,including bonds proposed to be issued.
2%; in 1909. 234%; in 1910. 21.4%; in
in 190e.
Bonds are red. on any int. date at 105 and int. on 90 days' notice. The
1% quarterly.
Union Trust Co. (formerly Citizens Say. & Tr.), Cleveland. and Bankers
in Cin- Trust Co., N. Y., trustees.
-Owns and operates 36.24 miles of track from the"Zoo" ft.
ROAD.
5
234
Hamilton, incl. branch Hartwell to Lockland. Gauge, to Founcinnati to
Dteiaends.-First div.-11.4%-under new franchise ordinance of Dec.
in. Operates over tracks of Cincinnati Traction Co. from "Zoo"
1909 paid April 1910 and 1 1.4% (mar. since to and including January 1920.
tain Square in Cincinnati.
On April 1 1920 a div. of P4% was paid. V. 110, p. 2487. Subsequent
of 134% quer. (see above).
OFFICERS.-Pras., B. L. Kilgour; V.-P. Geo. W.Lewis; Sec. & Treas., divs. are being paid at the old rate
196;
-V. 99. p. ' V. 106, p. 924.
A. J. Becht, all of Cincinnati.
-For calendar year:
REPORT.
Balance.
Other Int., Taxes &
Net
Gross
Calendar
Income. 6% Dividend. Sur p. or del.
Earnings.
YearEarnings.
1921
$17.607.719 $1,186,166 $190,229 $3,281,876 $1,094,520
CLEVELAND, OHIO.
3,183,424 def 692,921
174.190
2.316,307
17,382,358
1920
CLEVELAND RAILWAY CO.
From the surplus as above there was deducted 3494361 in 1921, against
surplus of
The receivers of the Municipal Traction Co. having been discharged and $198,000 in 1920 for obsolete equipment written off, leaving
Ry. Co.
she debts of that company provided for, the Cleveland below) ofon Mar. 1 $600,159 for 1921 and a deficit of $1,190,921 for 1920.
Dec.1909.
1910 resumed possession of its lines under ordinance (see
ROAD.
-Operates 411.4194 .miles of single track, of which 368.2948
Y. 00, p. 626. The lease to Municipal Traction Co. was canceled of record.
miles are owned. Mostly 80, 95, 100, 103 and 141-1b. standard rails;
new franchise ordinance (V. 89. p. 1667) was 1,514 passenger cars; 4 other revenue cars and 195 service cars.
-A
Franchise Ordinance.
co.,
passed in Dec. 1909 by the City Council. and accepted by the railway
-P.. R. A.
based upon the valuation of the co's property as fixed by Judge Taylor. The
-P., J. H. Alexander; V.
OFFICERS.-Pres., J. J. Stanley; V.
ordinance grants franchises to operate on existing roads to May 1 1934,sub- Harmen: Gen. WM, R. W. Emerson; Sec., Peul E. Wqsen: Treas., W. J.
ject to the right of the city to purchase the property. In May 1919 the life Mead; Asst. Treas., Paul S. Shreiner; Aud., Thos. T. Kilfoyle.-V. 113. p.
to May 1
of the ordinance was extended for 10 years, from May 1 1934 the capital 531, 847, 2818; V. 114, p. 197, 1062, 2115, 2359, 2716; V. 115, p. 182, 435.
1944. V. 108. p. 2122. In case of purchase the city must pay
1099.
value of said property, as fixed by Section 16 plus at the same time 10%
of so much of the capital value as is represented by capital stock, assuming and agreeing to pay, in addition thereto, all the obligations, indebtedness and liabilities of the company, and all lions other than bonded debt
CLEVELAND SOUTHWESTERN &COLUMBUS RY.
upon its property then existing, which bonded debt the city shall provide
Receirership.-On Jan. 20 1922 Federal Judge Western, having appointed
for by assumption, by payment or by taking the property subject thereto,
the time. On and after Jan. 1 1918 the F. II. Wilson (Pres.) receiver for the co., on a petition filed by the General
as may be provided by law at
paycity may designate a purchaser or licensee in place of the city on the Electric Co. V. 114, p. 409.
ment of same amount. On Feb. 17 1910 at a referendum election On
-In a notice dated Jan. 23 1922 Hayden, Miller
Interest Payments, &c.
90, p. 167. 502).
electors ratified the ordinance (V. 89, p. 1667: V.
Cleveland, reorganization managers (see below), announced that
July 10 1911 the City Council passed an ordinance amending that of Dec. & Co., would be unable to meet taxes and bond int.. due Jan. 1 and Feb. 1
other things, for additions to capital as required and the co.
1909 providing, among
extene. 1922. V. 114, p. 625.
particularly for the immvellate expenditure of $2 500.000 for Inuits_
and equipt. The ordinance also provided that the right of the city to pro-A plan of reorganization dated June 1 1922 was
Reorganization Plan.
shall terminate whenever the unexpired announced by Hayden, Miller & Co., Cleveland, Ohio, reorganization
pose exten., betterm Us or impts.
such
term or any renewal thereof is lass than 15 years, and also that during the managers, which provides for the formation of (a) an operating co. to be
Period the company may operate at the maxitnum rate of fare and fix for known as Cleveland Southwestern Ry. & Lt. Co. or some other appropriate
schedules subject to the police power of the city. Provesien is also made of name, to take title in reorganization to all of the property and franchises
the use of surplus earnings during this 15-yr. period, either in the payment
of the present co.; and (b) a holding co. to be called Cleveland & Southwestern
floating debt or the creation of a s. f. to purchase securities and reduce Co. or some other appropriate name to own entire common stock of the opercapital value. At a referendum election on Nov.7 1911,the electors ratified ating co. All the pref. and common stock of the holding co. may be placed
the
the ordinance amending that of Dec. 1909.
in a voting trust for a period of years. The plan further provides for
Has franchise in Lakewood, expiring May 1 1044. which provides for a extension of a number of existing issues for 30 years at 6% and for the exthe
8-cent fare within city limits and a 5-cent fare to Cleveland, and gives the change of other issues for securities of the two new cos. She common and
City of Lakewood the right to purchase the company's lines within
pref. stocks of the old co. would have no value, as no provision is made in
city, subject, however, to the option of the city of Cleveland to purchase the plan for the holders of these securities. The following table shows the
the entire property of the company.
basis upon which the securities of the old co. will be exchanged for securities
-Judge Taylor placed the value of the physical property of the In the two new companies:
Valuation.
the franchise value at 13.615.Cleveland Elec. Ely. Co. at 117.511.856 and
Terms of Exchange of Old for New Securities.
844; total, $21.127.700; agreed value of property purchased from Forest
City Ity. Co.,$1805600: total valuation. 322.933.300. To this is added
--Will Receire in Operatin7 Company
11.158.300 interest or rental accrued, making the entire "capital value"
Cash for Scrip for
First .41
Existing
124.091.600. The- bonded debt of $8,128.000 and floating indebtedness
Accrued Accrued
Consol.
Sec. E.
11.288.000. or $9.416.000 in all, Is deducted. leaving
as of Jan. 1 1908.
Int. to
Int. to
30 Yrs. Mtge. 5s.
$14.675.600. The valuation is to be increased for the purpose of fixing the
Aug. 1 lifarqi 1
at 6%.
Existing Securities-Outstanding.
price at which the city or its nominee may purchase the property by the
1922.
1923.
Including cost of new pay-as-you-enter cars
amount of future requirements.
$9,500
$203,009 $200,000
Cleveland & Elyria Her
and 75% of the cost of remodeling old cars as pay-as-you-enter cars.
47 50
1,000
Each $1,009
4,503
-Fare to East Cleveland is same as city fare. The company's Elyria & Oberlin Ry
Fares.
100,003
100,000
45
schedules and routes are subject to the supervision of the city and the rates
1,000
Each $1,000
8,257, 00
127.000
of faro to be fixed so as to net a return of interest as stated above on the Ciev. Berea Elyria & Oberlin_ 127,003
65
1,000
capital value of the property and permit of the maintenance at all times of
Each $1,030
69,745
a so-called interest fund of at least $500,000. V. 89, p. 1667. When this Cleveland Elyria & Western_1,073,000 1,073,000
65
amount falls to $300,000 this shall be prima facie evidence of the necessity
1,000
Each $1,000
8,333
100,000
100,000
of raising the fare to the next higher rate. The following schedules are pro- Elyria Grafton & Southern
83.33
1,0)0
vided for: (a) 6c. cash fare, 9 tickets for 50c., lc. for transfer no rebate;
Each $1,000
8,159
110,033
(b) 5c. cash fare, 5 tickets for 25c., lc for transfer, no rebate; (c) Sc. cash Norwalk Gas & Electric Co.._ 110,000
74.17
1,030
fare, 11 tickets for 50c., lc. for transfer, no rebate;(2) Sc. cash fare, 6
Each 81,000
110,838
1,400,039
tickets for 25c., 1.c for transfer, no rebate; (e) 4c. cash fare, 5 tickets for Cleveland & So. West. Trae..1,400,000
for 25c., lc. for
79.17
1,003
20c., lc. for transfer, no rebate; (f) 4c. cash fare, 7 tickets
Each $1,030
8.471
95,003
transfer, no rebate; (g) 4c. cash faro, 7 tickets for 25c., lc. for transfer, Ohio Central Traction (1899) 95,030
89.17
1,033
lc. rebate; (h) 4c. caste fare, 3 tickets for 10c., lc. for transfer, no rebate;
Each $1,000
22.875
305,000
(i) 4c. cash fare, 3 tickets for 10c., lc. for transfer, lc. rebate; (j) 3c. cash Ohio Central Traction (1903) 305,039
75.00
1.000
faro, lc for transfer, no rebate; (k) 3c. cash fare, lc. for transfer, lc.
Each $1,033...,
rebate; (1) 3c. cash faro, 2 tickets for Sc.. 1.c for transfer, no rebate; (m)
-Will Receire in Ho'ding Co.
3c• cash fare, 2 tickets for Sc., lc. for transfer, lc. rebate; (n) 2c. cash
Con. Sims.
Pref. Shares.
Outstandin9.
fare, lc. for tranfer, no rebate; (0) 2c. cash fare, lc for transfer, lc. rebate.
Existing SecuritiesPro rata.
3,666 she.
The following shows the various schedules in effect since 1910:
Cleveland Southwestern & Columbus 5s_$3,666,000
Pro rata.
10 shs.
Beginning Aug. 4 1918, rate b.
Each $1,000
Beginning March 11910, rate j.
Beeinnine July 6 1919, rate c.
Beginning June 11911, rate k.
For description of new securities to be issued by the successor comp Blies
Beginning Dec. 16 1919, rate 2.
Sept. 11914, rate j.
Beginning
and a detailed outline of the plan of reorganization, see V. 114, p. 2578.
Beginning May 12 1920, rate b.
Beginning Dec. 15 1917, rate i.
Beginning Nov. 14 1920, rate a.
Deposits have been called for under the above plan. Depositary, CleveBeginning Dec. 26 1917, rate h.
Beginning Aug. 1 1922, rate b.
land Trust Co., Cleveland; sub-depositaries, Girard Trust Co., Phila., and
1918, rate p.
Beginning April 3
Old Colony Trust Co., Boston. V. 114, p. 2578.
Beginning April 10 1918, rate j.
-For decision upholding 6-cent fare, see V. 113, p. 1771,
Fare Decision.
-Incorporated in Ohio on March 4 1907 and is a
ORGANIZATION.
but compare V. 115, p. 435, 1099.
giving the consolidation of the Cleveland & Southwestern Traction Co., the Clevelanp
On Dec. 14 1912 the Couucil of Cleveland passed an ordinanceinterurban
Ashland & Mansfield Traction Co. and the Ohio Central Traction Co. For
within the city limits in
company the right to transport freight
terms of exchange see V. 83, p. 1590. Also owns the Norwalk Gas &
cars and to charge the interurban companies 25c. per car mile.
Electric Co.
In Jan. 1913 the Elyria Grafton & Southern Ry. reduced its capital stock
-In 1908 changed name from the Cleveland Elec
ION.
ORGANIZAT
Ry.)
Eric Railway Co. (which had in 1903 taken over the Cleveland City $35,- from $100.000 to $1,000. and the Norwalk Gas & Elec. On. from $125.000
to $1,250. In Marcn 1913 the Cleveland Southw. & Col. reduced the
to Cleveland Railway Co.. and authorized now stock to the amount of
was
to $4,236,000.
000.000. The old stock of Cleveland Electric Ely. been given a valuation authorized amount of common stock from $7.500,000City of Elyria, pro$23,400.000) and
In Jan. 1917 accepted a 25-year franchise from the
of $55 per share, or $12.870,000 (having formerly
paid for in new stock issued by Cleveland Railway at par ($100 viding for 20-minute city service and 6 tickets for 25c.
was
Fare
The Ohio P. S. Comm. has from time to time auth. the co. to issue
valuation. The Forest City Ry. (which had first absorbed the Lowof the
$548,678 1st consol. M. 5s at not less than 85 to reimburse the co. for ex•
Ry.) was purchased for $1,805,600 stock of Cleveland Ely., the shares
pendltures for itnpts., &c.. and to hypothecate them pending sale.
being accepted at their par ($100) value.
Forest City Ely.
into an
authorized the co. to
On Jan. 2 1917 a board of arbitratorsElectric Illuminating enter for the
-On Aug. 15 1918 a new fare schedule went into effect
Co.
Fare Increase.
18-year contract with the Cleveland
which provided for a straight rate of 3 cents a mile, an increase of ye cent
was accordingly done.
purchase of power, which
V. 107. p. 401. An increase of 25% in class and commodity rates
a mile.
-On Oct. 1 1919 the co. entered into an operating has also been grated.
Operating Agreement.
from 2 to 3 years
agreement with the Cleveland Interurban lty. running
In Feb. 1919 the co. announced that as it was practically impossible to
588.
V. 111, p.
refund the $127.000 Cloy. Bet. Elyr. & Oberlin cons. M. 5s, due Mar. 1
-On Nov. 19 1917 Mayor Davis appointed a com- 1919. it had arranged to extend same to Aug. 1 1920 at 5%. A cash payMunicipal Subway.
charge of the building of a municipal
on each $1,000 bond so extended was made, thus netting the
mission of five Cleveland men to take
109, p. 271, 477. The ordinance ment of $28.33
subway system. See V. 105, p. 2271; V. by the Ohio Supreme Court in holders a return of 7% during the period of extension. V. 108, p. 1060.
such action was held legal
extended to Feb. 1 1923 at 7%.
providing for
The people on April 27 1920 voted down These were furtherM.5s of the Ohio Central Traction Co., due June 1 1919,
April 1918. V. 106, p. 1688. issue for the financing and building of the
The 395.000 1st
$15,000.000 bond
a proposed
were taken care of in a similar manner; the company arranging to extend tne
p. 764.
at 5%. A cash payment of $23.33 was
subway. V. 110, p. 2075. Compare V. 110,
-The Cleveland City Council on Dec. 29 maturity of same to Aug. 1 1920
Increased Dividend Voted Down.
in
made, thus netting the holders a return of 7% during the period of extension.
co.'s div. rate from 6 to 7%
in
1919 formally granted an increase onsthe 109, p. 2262; V. 110, p. 261) of V. 108, p. 2211. These were further extended to Feb. 1 1923 at 7%.
(V.
accordance with the recommendati
The $110,000 Norwalk Gas & Elec. 1st 6s,due April 1192u, were extended
into this question. On Aug. 10
of $14 17 on each $500 of bonds
the three arbiters who conducted an inquiry
to a referendum vote and to Fen. 1 1923 at 6%. A cash payment
1920 however, this question was submitted 110, P. 2387: V. 111, p. 389. was made, thus netting the holder a little over 7% during the period or
V.
defeated. V. 111, p.692, 1565. Compare of 1 % but subsequent divs. extension. V. 110, p. 1186.
The company on April 1 1920, paid a div.
The $200.000 Cleveland & Elyria Elec. Ry. 6s and the $1,073,000
The city has brought
5s, both due Aug. 1 1920 were extended to
are being paid at the old rate of 134 %quarterly.
the interest fund the $72,000 Cleveland, Elyria & \Vast. Ry. was increased to 7% per annum and the
issues
suit to compel the company to pay back into
April 1 1020. V. 111, p. 1182, Feb. 1 1923. Int. on both and int. on any int. date. V. 111. p. 389.
paid out in divs. over the reviler rate on was pending.
bonds made callable at par
1277, me. In September 1922 the case




34

ELECTRIC RAILWAYS

STOCK AND BONDSDate. Interest. Outstanding. Maturity.
Common 37.500.000(8100)$4.236.000
Fret $2,500.000 5% cum ($100)
2,412.000
First general consol mortgaget 1907 5 A-0
915,000 April I 1927
$10.000,000f$1,000)gc*&rcptlint. at Cleveland Tr.Co.. Cleve., Trustee.
Cleveland & Elyria first mort-f 1895 7 Q-F
200.000 Feb 1 1923
gage on 18 miles ($500) Interest at Citizens' Savings & Trust Co..
Subject to call
cpt( Cleveland. Trustee.
Styria & Oberlin first mart-) 1897 6 F-A
100,000 Aug 1 1922
gage on 9 miles ($500) gold I Interest at Cleveland Trust Co., Trustee.
Subject to call
cot
°ley Ber Elyr & Oberlin cons) 1899 7 g M-S
127.000 Feb. 1 1923
M $500.000g 41.000 each) Intereet at Cleveland Trust Co., Trustee.
Subject to call
cpt
Cleveland Elyria & Western( 1900 7 g F-A
1,073,000 Feb 1 1923
first mortgage $1,500.00011nt. at Cleve. Tr. Co.. Cleve.. Trustee, or at
($1.000) gold
c&rcpti Nat. Bank of Commerce in N. Y.
giyria Grafton & Southern( 1902 5 g J-J
100.000 Jan. 1 1022
By first mortgage guar- Interest at Cleveland Trust Co.. Cleveland.
anteed by()5 & W ($100.Trustee. and Equitable Trust Co.. N. Y
000($1.000) gold_ ___ c*cpt
Can be called at par.
Norwalk Gas & Electric first 1900 6 A-0
110.000 Feb 1 1923
mtge, $110,000 ($500). g. Int. at Guardian S. & Tr. Co., Cleveland.
Subject to call
Cot I Trustee, or Chloe National Bank, N. Y.
Cleveland & Southwestern 1903
5g F-A
1,400.000 Feb 1 1923
first and consol mortgage Int. at Guardian Say. & Tr. Co., Cleveland.
$3.000.000($1,000)gc&rc pt
Trustee, or Equitable Trust Co., N. Y.
Ohio () Tree first mortgage 1, 1899
7 g J-D
95.000 Feb. 1 1923
closed ($1,000), goldc*rittf Int. N. Haven Tr. Co., N. Hay., Conn., Tr.
Ohio Central Traction consol- 1903
(
5 g M-S
305.000 Mar 1 1923
!dated mortgage
closed {Int. at Cleve. Tr. Co.,Cleveland, Trustee, or
($500). gold
c*cpt( at National Bank of Commerce. N. Y.
Bonds.
-Of the $10,000.000 new bonds. $3.510.000 are reserved for prior
liens and $5,515,000 are for extensions, improvements, &c. They are
subject to call after 10 years at 105 and accrued int. The Cleveland &
Southwestern bonds of 1903 are subject to call at 105 and int. $1,600,000
of this issue are reserved to retire certain underlying bonds.
The Cleveland & Elyria 1st M.(ie of 1895 fell due May 11915. but
extended to Aug. 1 1920 at the same rate of int. and again to Feb. 1 were
1923
at 7%.
Of the Cleveland Berea Elyria & Oberlin 5s dated March 11899,$300,000
remain in reserve for the retirement at or before maturity of the
6s to a like amount. These originally fell due on Mar. 1 1919 divisional
but were
extended to Aug. 1 1920 and again to Feb. 1 1923 at 7%. The extended
bonds are red, at par and int, on any int. date. Of the
land Elyria & Western new 5s, $427.000 are reserved to$1,500,000 Cleveretire prior
This issue originally matured Aug. 11920, but was extended to Feb. 1liens.
1923
at 7%. The Ohio Cent. Trac, Co. 1st 5s originally matured on June 1 1919
but were extended to Aug. 1 1920 and again to Aug. 1 1923 at 7%. The
Ohio Central Traction Company consol. bonds may be called upon 30 days'
notice at 105 and int. The Elyria & Oberlin es of 1897 fell due Aug. 1
1917 but were extended to Aug. 1 1922. The Norwalk Gas & Elec. 1st 6s
originally matured April 1 1920, but were extended to Feb. 1 1923. The
extended bonds are red. all or in part at par and int. on any int. date.
V. 110, p. 1186. See above under "Reorganization Plan."
EARNINGS.
-For calendar years:
Gross. Net,after Taxes. Int.. &c.
Balance.
1921
$1,942,434
$281,642
$380,805 def.$99,163
1920
2,177,829
381,010
365,881 sur. 15,129
1919
1,870,404
457,356
367.139 sur. 90,217
_ _-....
ROAD.
-Operates 209 miles of track (of which 177 miles are on private
right of way) in and from Cleveland to Berea, Elyria. Oberlin. Norwalk,
Medina. Grafton, Wellington. North Amherst. Lorain. Creston, Chippewa,
Lake. Seville, Wooster, Limiciale, Purltas Springs, Gallon, Bucyrus,
line. Mansfield, Ashland. Nankin, Polk, West Salem, Lodi and LeCrestRoy,
60, 70 and 100
-lb. rails. Standard gauge. Also does freight
business. Operates 66 passenger and 35 other cars; total, 101.and express
Company
owns Puritas Springs and Seccaium Park and reaches Chippewa Lake.
Also owns and operates electric-lighting plant in Norwalk.
OFFICERS.
-Chairman of Board, F. E. Myers; Pres. F. T. Pomeroy;
V.
-P., L. M. Coe; Sec. & Treas., J. 0. Wilson; Gen. Mgr., J. H. Wilson,
laud., C. J. Mayers. General office, National City Bldg., Cleveland.
V. 105. p. 180, 389, 1309, 1617, 2455; V. 106. p. 607;
107, p. 82, 401:
V. 108, p. 2241; V. 109, p. 1186: V. 111. p. 389; V. 112,V. 652, 1865, 2747;
p.
V. 114. p. 409. 625. 2578; V. 115, p. 1099.

[VOL. 115.

OFFICERS.
-Pros., E. W. Moore; V.
-P., F. H. Goff; V.
-P.
Mgr.. W 11. Douglas; Treas., E. V. Hale: Sec., Fred S. Borton: & Gen.
Asst. Sec.
and Asst. Treas., J. A. Currie, Willoughby. 0.-V. 102. p.
101. p. 1489; V. 106. p. 2010; V. 107, p. 82. 401. 1191; V. 885, 1811; V.
108, p. 1274; V.
109, p. 676; V. 112, p. 2747: V. 114, p. 2240.
(1) Cleveland Painesville & Ashtabula RR.
-A
tirely over private right of way, except through some of trolley road. En
the villages, where
'ranchises expire in 1927.
Default-Cornntittee.-,Tan. 1 1917 and subsequent intere-t as well as
princinol clue July 1 1922 is in d of mit on 1 t
committee has called for deposits of bonds with aftea. 5s. The following
A. G. Tame, II. D. Messick and J. A. House, all the Cleveland Trust Co.:
of Cleveland.
256; V. 115. p. 182. Up to Oct. 18 1922 no plan of reorganizati V. 104, p.
on had been
announced.
ORGANIZATION.
-Incorporated in Ohio in 1902
Fare Increase.
-In July 1918 was authorized by the Ohio P. U.
increase the mileage charge, effective Aug. 11918. V. 107, p. Comm. to
401.
STOCK AND BONDS- Date,
Interest. Outstanding. Maturity,
stock, $1,000,000 ($100)_
$1,000.000
First mortgage $1,000.0001 1902
1.000.000 July 1 1922
5 g J- 11
.
gold (31.000)
c*.cpt lint. at Cleveland Trust Co., Cleve., Trustee.
Bonds.
-No sinking fund and bonds cannot be called. See V. 75. p. 549.
REPORT.
-For years ending Dec. 31:
Years
Gross.
Net(aft.tax) 0th. Inc. Int. &c.
Deficit.
1921
1162.876 def $6,610
$72.706
$248
$79,068
1920
196,701
def33.416
932
71,497
103.981
1919
191,207
14,135
751
55,657
70,543
ROAD.
-Operates 30 miles track between Painesville and Ashtabula.
Put in full operation on July 30 1904. 70-1b. T and girder rail used. Track
otandard gauge. Connects at Painesville with the Cleveland Painesville &
Eastern RR, and at Ashtabula with the Pennsylvania & Ohio Ry.
OFFICERS.
-Same as Cleveland Paineey. & East. above.
-V.98,
V. 101, p. 163, 256; V. 106, p. 2010; V. 107, p. 401; V. 115, p. 182. p. 386;
CLEVELAND & EASTERN TRACTION CO.
-A trolley road.
ORGANIZATION.
-Incorporated in Ohio on May 18 1910 to succeed
the Cleveland & Eastern division (V. 90, p. 1613) of the Eastern Ohio Traction Co. per plan in V. 89, p. 1541. 1596.
On May 3 1915 stockholders voted to amend the charter so as to permit
company to engage in electric light and power business V. ton. p. 1509.
Fare Increase.
-In July 1918 was authorized by the Ohio P. U.Comm. to
Increase the mileage charge, effective Aug. 1 1918. V. 107, p. 401.
STOCK AND BONDS- Date.
Interest. Outstanding. Maturity.
Common stock ($100) -$381,600
Frei stock,5% n-c ($1001
465.865 Feb '21 1%
First mortgage, 1763.200,J 1910
5 g J-J
763,200 July 1 1932
gold (11.000)
c*lInt. at Guardian Say. & Tr. Co.. Clev True.
Bonds.
-Bonds subject to call, any or all, on any int. day, at 103 and
nt.: beg an to draw int. Jan. 1 1912. V. 91. p. 336.
Dividends.
-The first die. on the preferred stock-3.% was paid In
Nov. 1915. In 1916 and 1917. 3% each. In 1918, Jan. 1%; April. 1%;
none to Jan. 1920, when 1% was paid. In 1921, Feb., 1%. None since.
EARNINGS.
-For calendar years:
YearGross. Net (aft. Taxes). Int.
Dividends. Surplus.
1921
$333,748
$68,122
$38,160
$4,659
$25,303
1920
360.651
101,780
38.160
4,659
61.916
ROAD.
-Operates 40 miles of track from Cleveland to Chardon. Burton
and Middlefield, Ohio. Standard gauge. 60
-lb. T rails.
OFFICERS.-Pres.. IT. P. McIntosh; V.
-P., Horatio Ford;
Gen. Mgr., Robt. D. Beatty: Treas.. C. A. Taylor. Office, 708 Sec. and
Belmont
Bldg., Cleveland, 0.-V. 100, p. 1509; V. 101. p. 1627;
V. 102. p. 437:
V. 106, p. 924; V. 107. p. 401; V. 109,
13• 67 .
6
CLEVELAND & CHAGRIN FALLS RY. CO.
ORGANIZATION.
-Incorporated in Ohio on Feb.
the Cloy. & Chag. Div. of the East. Ohio Trac., sold 18 1910 to take over
Feb. 5 1910.
Receiver.
-In Jan. 1918. the receiver, who had been in charge of the
property since July 1917, was discharged.
30.06o epaW8 capital stock was reduced from
In Jan
10
)
$300.000 (par $100) to

CLEVELAND PAINESVILLE & EASTERN RR.
ORGANIZATION. &c.
-Incorporated in Ohio on April
completed In July 1908. Franchises expire from 1920 to 25 1895. Road
1935. In June
1906 acquired control of the Clev. Painesy.& Ash. RR. V.82, p.1322, 1379
STOCK AND BONDS- Date.
Interest. Outstanding. Maturity.
In 1913 purchased the United Light & Power Co. (stock. $100.000; Stock.
$30.000 (110)
bonds. $100,000).
125.000
Cies & Ch Falls 1st M$3004 1910
,
6 e J-J
New Franchise Proposed.
-See V. 111. p. 2240.
000 g ($100 & $500) ___c*1Int. at Guardian Say.&'251.900 Jan 1 1930
Tr. Co.. Clev.. True
Rate Increase.
-Late in 1917 was auth. by the Ohio P. U. Comm. to
Bonds.-Subj. to call any or all on any int. date at 1024
and int.: $48.100
Increase lighting and power rates.
are In treasury.
Fare Increase.
-In July 1918 was authorized by the Ohio P. U. Comm.
EARNINGS.
-For calendar years:
1921
to increase passenger rates, effective Aug. 1 1918. V. 107. p. 401.
YearGross. Net (aft. Taxes). Int.
Divs. Sur. or Del,
$106,376
$8 708
2 :269
5
Bond Extension.
$15,114
-On Sept. 16 1918 the company announced that be$2,471
def.S8,877
121.011
15,114
cause of abnormal financial conditions it would be practically impossible 1920
2.471
sur. 7,684
to refund at that time the $500.000 1st mtge. bonds and the $1,131.ROAD.-Operates 12.01 miles of line between Cleveland and
Chagrin
300 1st consol. mtge. 5s duo Oct. 11918. The co., therefore, arranged for Falls. Standard gauge. 60 and 70-1b. T rail.
an extension of the maturing issues to Oct. 1 1923 at 7%, extended bonds
OFFICERS.
are red. all or in part at 100 and interest on any interest date on 60 days'
-Gen. Mgr., Robert D. Beatty; Pres., H. P. McIntosh;
V.
-P., Horatio Ford; Sec. & Treas., C. A. Taylor.
notice. V. 108. p. 1274.
-V.99, p. 1909; V. 105.
P. 715: V. 109. IL 676.
STOCK AND BONDS
- Date.
Interest. Outstanding. Maturity.
Stock,$3.500.000 (par $100)$2,500,000
LAKE SHORE ELECTRIC
First mortgage, $500,000. 1896
7 g A-0
500.000 Oct 1 1923
gold ($1,000 each)_c*.cpt Interest at Morton Trust Co., N. Y., or
ORGANIZATION.
-The Lake Shore Electric Ry. was
Cleveland Trust Co., Cley., Trustee.
Sept. 25 1901 under laws of Ohio as a conselidatIon of the incorporated on
Lorain & CleveCongo,. mart. (closed $1,- 1898
7 A-0
1,131.000 Oct
631.
000 (11.000), gold_ cpt Int. at Citizens' Say. & Tr. Co., 1 1923 land Ry., the Sandusky & Interurban Ry. le Sandusky Norwalk & SouthCleve., ern Ry. and the Toledo Fremont & Norwalk RR
V. 73. p. 784.
Trustee, or Trust Co. of America, N. Y.
half the road Is built on private right of way. In Nov. 1917 the About
city of
Ref and extension mtge. $5.-1 1908
5 g M-N
926,000 May 1 1948 borain granted a now franchise to
000.000.gold($1,000)c*cpd Int. at Clevel Trust Co., Cleveland, Trustee. St. RR., which was rejected on the the co. and its subsidiary, the Lorain
ground that the faro
I or company's agency in New York.
for 25 cents was insufficient for profitable operation. On rate of six tickets
Mar. 22 1918 the
-$500.000 consols are reserved to retire underlying liens. The Lorain St. RR. obtained a new 25-year franchise which provides
Bonds.
for a
-cent fare, and on Mar. 27 1918 a 25
mtge.. originally for $2,000,000. was closed at $1,631.000 and the balance straight 5
-year franchise was granted
canceled. The consols. originally matured Oct. 1 1918 and bore int. at to the Lake Shore Elec. Ry. In Jan. 1920 the Norwalk
City Council
-year franchise. V. 110, p. 167.
5% but were extended to Oct. 1 1923 at 7%. Of the refdg. and extension granted the co a new 25
Controls the Lorain Street RR. and the Sandusky Fremont
bonds. $1,631,000 are reserved to retire prior lions, and $2,415,000 are
& Southern
rese.ven for future extensions and impts., to be issued only when not Re.. which see below
Also controls the People's Light &
earnings for preceding 12 months have been not less than 25% in excess of the Bellevue Illuminating & Power Co. On Aug. 1 1918 Power Co. and
purchased 50%
of the capital stock of the Ohio State Power Co. (The other 50%
Interest charges on outstanding bonds, Including those to be issued. $28,Is owned
000 are in the treasury. Subject to call May 1 1938 or on any interest by the Amer. Gas & Elec. Co. of N. Y.) In 1907 made contract to supply
date thereafter at par and interest on 30 days' notice. The 1st mtge. power to the ToledoFindlay& Fostoria and several other roads V.85.p.1646.
In 1910 charter was amended so as to transtirtn the then
bonds originally fell due April 1 1916 but were extended to Oct. 1 1918.
existing 5%
and again to Oct. 1 1923; in the latter case the int, rate was raised from cum °ref stock of 13.000,000 into $1.000.000 6% Qum. 1st pref. and 12.000,000 5% non -cum. 2d pref. stock; V. 90. p. 698. At the same
5% to 7%.
accumulated dividends on the old pref. stock (part of which had time
-For years ending Dec. 31 (excl. United Light & Power Co.)
RE PORT.
Issued later than the rest, were adjusted. V.90, 0. 1170. 1206* V.91. been
p.790.
Calendar
Other
Gross
Interest
Net. after
Balance• In Jan. 1915 the articles of Incorporation were amended to enable
Income.
Earnings.
&c.
Taxes.
YearSurplus pany to sell and distribute electricity for light, heat and other the compurposes
$701,026
$163,893
$2,948
$166,262
In certain localities.
1921
$579
172,632
743,300
2,634
The Ohio Utilities Comm. has from time to time authorized the
165.274
1920
9,992
company
171,182
1,661
654,325
216.767
1919
47,245 to sell additional gen. mtge. bonds. aggregating $428.000, which have
been issued and are held in treasury. On Feb. 10 1915 increased
The results of the United Light & Power Co. for 1921 were, gross, $57,619: amount
authorized
of let prof. stock from $1.000,000 to 111.500.000.
taxes, $23,542. In 1920, gross, $51,432; net, after taxes, $16,209.
net, after
Fare Increase.
-In July 1918 was authorized by
"ThOAD.-Owns road from Euclid. Ohio, to Painesville and Fairport Increase the mileage charge. effective Aug. 11918. the Ohio P. U. Comm. to
24.02 miles ("Main Line"), and uses Cleveland Electric Ky. from Euclid 1920 the Sandusky City Comm. auth. the co. to V. 107, p. 402. On Aug.9
fares to 6 cents,
to Public Square, Cleveland. 10 miles; also owns "Shore Line." extending tickets to be sold at 5 for 25 cents. The co. had increasefor
applied
a 7-cent fare.
from Willoughby to Cleveland (St. Clair Ave. & 110th St.), 14.89 miles
V. 111. p 792.
and uses the Cleveland Electric Ry. Co.'s track from that point to the
The Toledo Fremont & Norwalk RR. 1st M. 5s due Jan. 1 1920
Public Square, Cleveland, 5 miles. Total track operated (including
extended to Jan. 1 1925 at 6
, the extended bonds being rod, at parwere
and
miles of double), 463-.6 miles. With the Clove. Painesv. & Ashtabula forms Int. on any int, date on 60 days' notice. Originally there
were $1,500,000
a continuous line from Cleveland to Ashtabula. 46 motor cars and 8 other bonds of this Issue outstanding but $38.5,000 were held
in the sinking fund
cars. Power-house is at Painesville. Car-houses at Willoughby and as of Jan. 1 1920 and these, under the extension
agreement, were canceled.
Nottingham.
caving $1,115,000 to be extended. V. 109, P. 2263.




OCT., 1922.]

ELECTRIC RAILWAYS

35

COFFEYVILLE, KAN.
Interest. Outstanding. Matta*,
STOCK AND BONDS- Date.
$4,500.000
THE UNION TRACTION CO.
Common,$4.500.000 (par $100)See text
1.000.000
Q-J
pf$1.500.000(S100)6% cum____
-Incorporated Sept. 28 1906 in Kansas. In Dec.
ORGANIZATION.
1st
2.000.000 No div. yet
(916 was granted a permit to do business In Oklahoma. Franchises expire
2d pf $2.000.000($100)5% n-c 1903
1.600,000 Jan 1 192
5 g J-J
cons mtge. $4,000.0001 Int. at Citizens' Say. & Tr. Co., Cleveland
Road Is on private right of way except in Coffeyville. Independence,
First
1957.
c• tf
($1,000), gold
Cherryvale and Parsons.
Trustee, or Trust Co.. of America, N. Y
2.255.000 Feb 1 193::'
5 g F-A
-In Sept. 1918 was auth. by the I.-S. C. Comm. to In1903
Fare Increase.
mtge, $7.000.000 Int. at Citizens' Say. & Tr. Co.. Cleveland
General
crease fares between Parsons and Coffeyville, and Nowata Okla., and
c• tf
($1.000). gold
Trustee, or company's agency in N. Y.
e points to not to exceed 2.6 cents per mile. V. 107. p. 1194.
intermediat
750,000 July 1 1927
5 g J-J
1897
Interest. Outstanding. Maturity.
Lorain & Cleveland 1st. gold Interest at Citizens' Say. & Trust Co.
STOCK AND BONDS- Date.
e500.000 See text.
($1.000).$1.000.000_-__ tf
Stock,$500.000
Cleveland. or company's agency in N. Y
941.000 Jan 1 1937
5 J-J
1 1925 First mtge, $1.000,090, gold' 1907
1,115,000 Jan
634 g
gf 1900
T F & N 1st M $1.500,000 tf Int. at Union Trust Co. Detroit, Trustee.
($1.000), sinking fund__ tflWarren (Pa.) Trust Co.. Trustee.
_ _c•
guar 4500, $1.000)
88,000 See text
J-J
1917 6
Bonds.-lst M.bonds are rod. ann. by lot at 105 and interest since Jan'
Car trust certificates„(
1Guardian Savings & Trust Co., Cloy., trust. 1912.
$176,000
through s. f.; $59,000 have been retired. S. f. of 10% of net earnings
43,600
7%
1920
annually began in 1911. Int. at Nat. City 13k., N. Y.; Commercial Nat,
Car trusts
to retire
$4.000,000 first consols, $2.250.000 are reservedmortgage Bank, Chic., and Tradesmen's Nat. Bank, Phila. See V. 88. p. 1003.
-Of the
Bonds.
$4.000,000 of the general
-A div. of6% was paid during the fiscal year end. June 30'13.
Dividends.
prior liens: $150,000have been canceled;
retire the first consols and $745.000 (of whict
5 per cents are reserved to by the trustee and are in treasury) for eaten
-For year ending Dec. 311920. gross, $561.055; net, after
EARNINGS.
certified
$428.000 have been 80% of cost. Neither issue is subj. to call. A sinking taxes, $9,892; interest on bonds, &c., $64,757; deficit, $54,865.
sinus and impts. at
$10,000 per
ROAD.
-Operates 67 miles of road, of which 93e m. In Coffeyville. 7
the first consols. commenced Jan. 1 1909. retiring per annum.
fund for
road between Coffeyincl., $30,000 bonds
annum until 1914; and from 1920 to 1922, 1 1917 at par and int. The car miles in Independence and 5054 miles of interurban T rails. Purchases
ville, Independence, Cherryvale and Parsons. 70-lb.
The L. & C. bonds are callable since Julyeach July 1.
from the Kansas Gas & Elec.. Co.
certificates of 1917 mature $17,600
power
trust
division betweet:
Siggins, Warren, Pa.: Sec.. H. A. Biggins;
-The T. F. & N. bonds are a first lien on the the road between
OFFICERS.-Pres., D
Lien.
lien on
-V.109, p. 2264; V. 111, p. 2424; V. 113,p. 1773.
Toledo and Norwalk; the L. & C. bonds are a first a first lien on all other Treas., Sam Q. Smith.
Cleveland and Lorain; and the let consol. bonds
$385,000 have been
lines and also a 2nd mtge.on the divisions noted above:
canceled through operation of sinking fund.
div. on 1st pref., 154%. paid Oct. 1 1910: same
COLORADO SPRINGS, COLO.
omitted
amount quarterly to and including April 1915. July 1915 dividend
COLORADO SPRINGS & INTERURBAN RV.
101. p. 47). None since.
(V.
ORGANIZATION.-Incorp.in Aug. 1902 as a consolidation of the Colo-For years ending Dec. 31, excluding Lorain Street RR.: rado Springs Rapid Transit Ry. and the Colorado Springs & Suburban Ry.
REPORT.
Sandusky Fremont & Southern Ry. and light and power companies.
Surplus. Effective June 8 1919, was auth. by the Colo. P. U. Comm. to increase fare.
Interest.
Net(aft.Tax.) Other Income
Gross.
Year3119 from 5 to 6c.:V. 108, p. 2433. In .lan. 1921 the co. was auth. to raise fares
g:43 .397
e308,706
%
g2 001,980
1921
$327,035 to 7c. cash or 8 tickets for 50c. The consol. co. has issued $1.500,000 stock,
$334,890
$661,925
$2,699,342
1920
237,379 of which $500,000 5% pref.; bonds (31,000 5% M. S.. due Sept. 1932,
339,801
577,180
2,067,225
1919
Central Trust Co., N. Y., trustee) auth. and issued, $1,500,000.
7,647.946.
,
Pa (sIlger carried in 1921, 6.802.291; in 1920.
-For cal. year 1921, gross, $531,554; net, after taxes.
EARNINGS.
Earnings for 1921 of the People's Light & Power Co. were: Gross,$16.210; $24,585. In 1920, gross, $548,487; net, after taxes, $98,901.
gross.
net, after taxes, $17.441; and of the Bellevue Ilium. & Power Co.,
-Owns 4134 miles of track. In 1919 added 35 one-man cars to
ROAD.
$53,832; net, after taxes, $12,999.
-Operates 180 miles, extending nom Cleveland to Toledo and Its equipment.
ROAD.
-P., W. Lennox; Sec., Wm. Lloyds;
OFFICERS.-Pres., D. IT. Rice; V.
Sandusky, and from Sandusky to Norwalk; also city lines in Sandusky;
-V. 110, p.2387; V.111, p. 188, 492, 1566.
standard gauge; 70 to 100-1b. rails. Through line from leveland to Toledo Treas., O. S. Chamberlin.
owns the Sanwas opened for business about Aug. 26 1902. In addition
dusky Fremont & Southern, 20 miles, and the Lorain Street RR., 24.77
miles, making a total of 216.77 miles. 114 passenger, 15 baggage, 52 work
and freight cars. Total, 173.
COLUMBIA, S. C.
-Ps.. F. IT.
OFFICERS.-Pres., E. W. Moore, Cleveland and N. Y.; V.
COLUMBIA RAILWAY. GAS & ELECTRIC CO.
-P., Sec.-Treas. & Gen. Mgr., F. W.
Goff and A. Lewenthal, Cleveland; V.
Coen, Sandusky, 0.-V. 107, p. 402; V. 108, p. 2123; V. 109, p. 2263;
-Does the entire street railway, electric lighting,
ORGANIZATION.
-Name changed from Columbia
V. 110, p. 167, 261, 2192; V. 111, p. 792; V. 112, p. 1740; V. 114, p. 2623.
ewer and gas business in Columbia. S.0.
V. 92.
Electric Street Hy., Light & Power to the above on May 15 1911. St. Ry.,
-A trolley road.
(1) Lorain Street Railroad Co.
Is a consolidation on July 1 1905 of the Columbia Electric
pi. 1374.
Water Pow. Co The first-mentioned
on Aug. 3 1906 and is a con
-Incorporated In Ohio
Lt. & Pow. Co. and the Columbia
ORGANIZATION.
was organized In So. Caro. Jan.6 1892 and was a consoll laden of the Columsolidation of the Lorain St. Railway and the Avon Beach & Southern RR
Entire stock owned by the Lake Shore Elec. Ry. Operates on private bia Elec. & Suburban Ry. Co. and the Congaree Gas Sr Electric oo. Acfranchises quired the Columbia & Eau Claire Electric Ry. Owns all the stock and
right-of-way except three miles in Lorain and Elyria, on which
Operates under
bonds of the Columbia Gas Light Co., which is also leased
run until March 1943.
expiring
rights granted by State of So. Caro.(which owns the city streets), covering
Interest. Outstanding. Maturity
STOCK AND BONDS- Date.
Dec. 16 1941. Gas franchises granted by State and city franchisee
$2.000.000
--Stock $2.000,000 ($100)
all departments are without limit of time.
550.000 Nov 1 1949
Lorain St Ry 1st M $750.0001 1899 5 g M-N
In June 1912 acquired Parr Shoals Power Co.(stock $2,000,000 coin., all
cs.tt f Int. at Guaranty Trust Co.. N. Y., Trustee. owned, and $300,000 pref.), which on May 30 1914 placed in operation its
gold ($1,000)
See text July 1 1936
5 g J-J
First consol mtge $2,000.0001 1906
new hydro-electric station (present capacity 18.000 h.p.; ultimate capacity
4
gold guar $1.000)- c*.tt Int. at Citizens' Say. & Trust Co., Cleveland
30.000 h.p.) on the Broad River. near Alston. S. C., 27 1 miles northwest
Trustee. or Agency in New York.
of Columbia, supplying the requirements of the controlling co. (V. 95. p•
cons. bonds $750,000 are reserved for prior 1122; V. 98. p. 154. 1844.)
-Of the $2,000,000
Bonds.
liens and $750,000 for extensions, &c. They are guar.. prin. and int.. by
Offer to Sell.
-See V. 109, p. 2356; V. 110, p. 561.
endorsement by the Lake Shore Electric Ry.
Strike, &c.
-See V. 114, p. 1406.
-cent
-For calendar years:
Fares.
-Effective July 1 1919, the company put Into effect a flat 7
REPORT.
Balance.
cash fare, tickets being sold at 4 for 25 cents. V. 109, p. 477.
Cal. Yrs. Gross Inc. Exp. & Tax. Net Earns. Int. Paid.
$54,058
def.S24,115
$29,943
$233,127
The $100.000 Col. Canal Co. 6% bonds originally matured Jan. 1 1919
$263,070
1921
cur. 32,151 but were extended for two years to Jan. 1 1921 and again to 1923 at the
54,774
86,925
266,712
353,637
1920
same rate of interest.
Passengers carried in 1921, 3,834,399, against 5,513,630 in 1920.
Interest. Outstanding. Maturity.
STOCK AND BONDS- Date.
-Operates 24.77 miles of track between Elyria. Lorain and
ROAD.
32.000.000 July'19.54%
Beach Park. Standard gauge. 24 cars. V. 105, p. 2543; V. 109, p. 2357. Common, 52.000.000 ($100)895,300 Oct.'22. 154
Q-J
Pref.. 51.000.000, 6% cum.} ---(5100)
(2) The Sandusky Fremont 5c Southern Ry.
3.043.000 July 1 1936
5
ted in Ohio in April 1906. Is operated First mortgage. $7.500,000, 1911
-Incorpora
ORGANIZATION.
c•tf Int. at co.'s office or at Chemical Nat. Bk.,
gold ($1.000)
Ry. between Cleveland and
as part of main line of Lake Shore Electric
N Y. Columbia Trust Co.. N. Y., Trustee.
right of way.
Toledo. Lake Shore Elec. Ry. owns entire stock. Private
300,000
7%
Parr Shoals P pfd stk $300.00 ___3.000,000 Apr 1 1952
5 g A-0
Interest. Outstanding. Maturity. Parr Shoals P 1st mtge. $3,-f 1912
DS- Date.
STOCK AND
000.000 (31.000). gold c5tf 1Columbia Trust Co.. Trustee
--------- Owned by the Lake Shore Electric Ry
Stock. $2,000,000$2,000,000,{ 1906
100.000 Jan. 1 1923
$645,000 July 1 1936 Col Canal Co mtg, $200,00011 ---5 g J-J
6%
First mortgage.
Bonds -Of the outstanding first mtge. bonds of 1911, $60.000 are den OSI
gold ($1,000), guar......c•tf Int. at Citizens Say. & Trust Co.. Cleve.
Trustee, or at Agency in New York.
Of unissued bonds. $200.000 are reserved
Jed to guar. hit. on Canal Co. 6s.
ac-Are guaranteed. prin. and int., by endorsement, by the Lake to retire Canal Co. bor da. end $4,497,000 for Improvements, additions,any
Bonds.
to call. See V. 83. P. 1099.
quisitions. &c.. under certain restrictions. Bonds are subject to call on
Shore Elec. Ky.; not subject
July 1 1912 an amount equal to 1% of bonds
int. date at 105 and int. Since
-For calendar years:
&c., against which no bonds may thereREPORT.
for
Interest
Net
Balance. out must be expendedsinceimpts..15 1915 a further 1% for retirement of
Expenses and
Gross
Dec.
Calendar
after be Issued, and
Paid.
Earnings.
Taxes.
Income.
Yearbonds. See V. 93. p. 229. Parr Shoals Power bonds are guaranteed,
D9, 1 p. & 1., by end., by the Columbia Ry.. Gas & Elec. Co. Sinking fund of
$1efk11
$32,250
95
$12,298
$107,736
$120,034
1921
32,250
7,761 14 of 1% semi-annually of bonds out from 1918 to Jan. 11952. Incl. They
24,488
126,608
151,096
1920
4,412 are subj. to call at 105 & int. on 60 days' notice. Int. payable In N. Y.
32,250
27,838
98,370
126,209
1919
7
35 .
Dividends.-First div. on pref.-3%-paid July 1 1906; Jan. 1907,
-Operates a line from Sandusky to Fremont. 20 miles. 14 cars.
ROAD.
4
None to July 1911, when accrued ilvs, worn paid UP in frill: 1 1 % Paid
-V.83. p. 97. 1099.
quar. since to and Including Oct. 1922. Initial div. on common-3i%)
paid Oct. 1917. In 1918, Jan., 34%; July, WX ; Oct.. 547o. In 1919,
Jan., 34%; July, 34%. None since.
CLINTON, IOWA.
-For calendar years:
EARNINGS.
CLINTON STREET RV.
Interest. Pref.Divs. Corn.Dirs. Surplus,
Year*Net.
Gross.
ORGANIZATION.-Incorp. In Iowa Feb. 4 1891. Under Its charter 1921
$164,310
51.341,569 5171.747 52.53,719 553.718
street railway, light, power and heating busi67.520
She co. is auth. to conduct a
53,610
256,455
377,614
1,649,524
the city is perpetual; others 1920
ness. Franchise covering main street of
Shoals bonds
• After deducting operating expenses, taxes, int. on Parr
expire 1935 and 1938.
6
-In Dec. 1920 was auth. to increase fares from 5 to p. and diva. on Parr Shoals pref. stock.
Fare Increase.
111, p. 2323. Compare V. 111,
cents, with 9 tickets for 50 cents. V. fares from 6 cents to 7 cents, with
ROAD.
-Operates 37 miles of track; 40 cars. Owns 2 power plant
Effective Feb. 20 1921, raised
1660.
with a total capacity of about 18.000 h. D.
tickets at 4 for 25 cents. V. 112, p. 1024.
-Chairman of Bd. & Treas., E. W. Robertson; Pres.,
OFFICERS.
Outstanding. Maturity
Interest
Date.
-V. 103, p.
rr STOCK AND BONDS-P., Henry Parsons; Sec., L. F. Pearce.
$596.600 See text.
F. II. Knox; let V.
Stock $1,000,000 ($100)400.000 Mar 31 1926 477, 1272, 2356; V. 110, p. 561, 969; V. 114, p. 1406.
1906 5 g A-0
First mortgage $400.000 gold)
c*fInt. at Illinois Tr. & Say. Bk., Chic Trustee
($1.000)
any Int. date on 90 days' notice. A
-Callable at 105 and int, on beginning April 1 1918 a fund of 2%
Bonds.
COLUMBUS, GA.
mortgage provides that
supplemental
by this fund be established to be used
or retired
of the bonds outstanding , &c.. or for the purchase of bonds up to 105
COLUMBUS ELECTRIC & POWER CO.
renewals. betterments
for
-A consolidation in 1922 of the former subsidiary
862.
ORGANIZATION.
and interest. V. 104, p.
of the Columbus Electric Co.. viz.: Columbus RR., Columbus
Incl. (except 5% in
-Paid 6% dividends from 1907 to 1913, sum for construc- companies and the Gas Light Co. of Columbus, Ga., as per plan outlined
Dividends.
Power Co.,
advanced a substantial
s
1912). In 1913 the stockholder while this sum was being paid out of earn
in V. 114, p. 1406. The Columbus Electric Co. is kept alive but will go
tion. &c., and waived dividends
out of existence when the bonds of the Columbus Power Co. (guar. prin..
paid in 1916.
int. & sink, fund by Columbus Elec. Co.) have been paid in full. For
Ings: 441.400 was so
3213.767; net, afte
year ending Dec. 311921. gross,taxes, $70,490.
history of Columbus Electric Co. up to time of this consolidation, see "ElecEARNINGS. For
gross, $237,738: not, after
tric Railway" Supplement of April 29 1922. Does the entire electric railtaxes, 362,777. In 1920,
single track equivalent and 32 single truck way and lighting, gas and power business of Columbus and vicinity and the
-About 16 miles of
Inter- adjoining towns of Phoenix City and Girard, and a wholesale power business
11'• ROAD.&c.
purchased from the Clinton Gas & Electric Co.
cars. Current is Davenport enter to centre of city over the company's in Columbus, Newnan, Ifogansville, Lagrange, Lanette, Trimble, Grant
urban cars •rom
vino, Moreland and West Point. Principal franchises perpetual. The
the Seaboard Air Line Ry. for 50 years from
tracks under traffic agreement.
-P., Geo. T. Baker; Sec., A. L freight lines are leased to $7.500 per annum.
V.
OFFICERS. Pres., R. C. Langan; Bernard Bohnson.-V.112,p.1024 Oct. 17 1901 at a rental of
C. Coan; Gen. Mgr.,
S chuyler; Treas., C.




36

ELECTRIC RAILWAYS

[VoL. 115.

STOCK AND BONDS- Date.
Interest. Outstanding. Maturity.
STOOK AND ilONDS- Date.
Common ($100)
kiterest. Outstanding. Maturit4
$1,500,000 See text.
Common. 86.080.000
1st pref Ser A cum 7% ($100)- $6,041,230 Nov '17. I
7%
2,000,000 Oct.'22, 14 'A" pref. $2,112.500 _______
2d pref 7% cum ($100)
6%
1,634.917 Oct '22. 1
7%
1,428,700 Oct.'22, 1% "B" pref. 85.038.700___
1st & ref M 6% Ser"A"(iiiio 1922 6g J
4.188,125 Nov 22 .1.3i
5%
-D
1,500,000 June 1 1947 Prior preference $1,913,800___ ....
$500 and $1,000) gold_c*.tf Int. at Old Colony Trust Co., Boston, trust.
4%
let ref & ext sink fd M *25,-I 1915 5 g A-0
Columbus Power first mtge 1906 5 g A-0
4.682,000 Oct 1 1940
3,625,000 April 1 1936
000.000 IC ($1.000)---c*tf Int. at E. W.Clark & Co.. Phila.,_or office of
$4,000.000 gold guar_c*.tf Int. at Commonw. Trust Co., Boston, trust.
co. at Columbus. Girard Trust Co..
STOCK.
-First pref. cony. into corn., share for share, at any time.
•I Phila., Trustee.
Redeemable at 120. V. 115. P. 72.
Ref M ser 6s due 1941 ($500&11921 6 g J-D
5.000,000 Dec 1 1941
Bonds.
-Callable, all or part, on any interest date after June 1 1932
$1,000 c*
up to Ool St By & $1,000 r*) g_tf Flarris Trust & Say. Bank, Chicago, trustee.
and including June 1 1937, at 105, and thereafter decreasing
1st, 83.000.000. 1892 5 g J-J
M
3.000.000 July 1 1932
year to 101 for year ending June 1 1945, and at 100 thereafter of 1% each
gold (81,000
c*_ ntf int.atco.'s office &E.W. Clark Sc Co.. Phila,
)
(plus int.).
A sinking fund of 2% per annum of the total amount
Knick.
issued commences Nov. 1 1923. V. 114. p. 2823. of Series ".A" bonds Orosstown 1st mtge. gold.IColuntbia-g J-D Trust Co., N. Y., Trustee.
1893 5
June I 1933
($1.000) $572,000 c*-ntt Columbia-Knick. Trust572.000 Y., Trustee.
Dividends.
-Dividends on 1st pref. and 2d pref. are being paid regularly.
Co., N.
Col By 1st consol mtge, 87.- 1899 4 Q-J
An initial dividend of $2 per share was paid on common
3.132.000 Oct 1 1939
stock in October
000.000 41.000), g. c*.ntf Interest at Union Savings Bank & Trust Co.
1922. V. 115, p. 1428.
Bonds are redeemable since i of Cincinnati,
The Columbus Power Co. bonds are callable
Oct 1 1914 at 105 and int. I Co.. PhiladelphTrustee, at E. W. Clark &
sinking fund) at 110 and int. on any int. day. as a whole (or in part for
ia. or at company's office.
A sinking fund of 1% of
bonds out began April 1 1912. $333,000 purchased for
Bonds.
-Of the First Refunding and Extension sinking fund bonds.
sinking fund and $6,704,00
canceled.
0 are reserved for underlying liens, $6,000,000 are pledged as
security for the $5,000,000 ref. mtge. 6s series due 1941, and
PROPERTY.
-25.9 miles of equivalent single track, of which 5 miles reserved
the balance is
for improvements, extensions, &c., at 85% of cash cost or fair
leased to Seaboard Air Line until 1952. 57 cars;
(leased to S. A. L. Ry.). Standard gauge. Controls 2 steam locomotives valuation, whichever is less, under certain restrictions. Callable at 105 and
hydro-electric plants int. on any int. date on 60 days' notice.
with a capacity of 32,500k. w.,and a steam plant of 12,000k.
Penn. State tax refunded on 60
w.capacity. days' notice. Sinking fund of 1% per annum
of bonds outstanding began
EARNINGS.
-Of Columbus Electric Co. for 12 months ending Dec.
31: Oct. 11920. The ref. mtge.6% bonds series due 1941 are secured by pledge
Dec. 31
Gross
Net, after
Interest
Sinking &
Balance of $6,000.000 1st & ref. ext. 5s due 1940. Additional ref. mtge. 6s may be
YearEarnings.
Taxes.
Charges,&c. lmpt. Fds.
issued to refund the $4,682,000 1st ref. & ext. bonds outstandin
Surplus
g in the
192L..__$1,807,298
$1,009.229
$395,803
$613,425 hands of the public and to reiumburse the company for extensions and addi1920_ _ _- 1,547.353
582,363
382,225
200,137 tions under certain restrictions. Callable after Dec. 1 1926 on any int. date
on 60 days' notice at 110 and int. to and incl. June 1 1931: thereafter
Latest Earnings.
-For 12 months ended June
at
net, after taxes, $998,134. In 1921, gross, 30 1922, gross, $1,896,555' 105 and int. to and incl. June 1 1937; and thereafter at a reemium of 1%
$1.622,536; net, after taxes' for each year of unexpired life to maturity.
$741,666.
holders resident in Pennsylvania. V. 113, p.Penna. 4-mill tax refunded to
2719. The Crosstown Street
OFFICERS.-Pres., Chas. F. W.Wetterer,• Sec.;Geo.
By. mtge. was for
A.Peirce; Treas.' payable at Columbus $2,000,000, but was closed at $572,000. 'Interest
Henry B. Sawyer; Gen. Mgrs.. Stone & Webster
and E.
Mgt.tAssn., Boston.
- Co. mtge. has been closed. W.Clark S: Co., Philadelphia. Columbus By.
V. 114, p. 1406, 2823; V. 115, p. 72, 988, 1428.
$3,428.000 bonds were issued thereunder, of
which $283,000 were canceled. Are callable at 105 and int. on any int. date.
Dividends.
-An initial div. of 134% was paid on the Series"A" pref. stock
April 1 1914; same rate guar. to and incl. April 1918; none since (but
COLUMBUS, IND.
above). On Series"B" initial div. of 131% paid in May 1914 and see
rate quer. since to and incl. Feb. 1918. None since (but see above).same
INDIANAPOLIS COLUMBUS 8c SOUTHERN TRACTIO
On
N CO.
common initial dividend of 1 q% was paid in May 1914 and same rate 11 ir
Lease.
-In Dec. 1912 was leased for 999
Service Co.,a subsidiary of the Middle Westyears to the Inter-State Public to and incl. Nov. 1917. Feb. 1918 dividend passed (V. 106. P. 4981.
Utilities Co,at a rental of 5% None since. See above under "Resumption of Dividends."
on the capital stock, or $92,000 a year above all
Inter-State Public Service Co. on a subsequenttaxes. V.95, p.680. See
REPORT.
-For years ending Dec.31:
page.
Years ending Dec.311921.
1920.
ORGAN IZATION.-Formerly the
1919.
1918.
RR.. which company was incorporated Indianapolis Greenwoud & Franklin Revenue passengers_ ___ 68.921.646 75,112,652 71.962,308 54.455.621
in Indiana in 1895. Name changed Transfer passengers____ 16,524,837 16,647,663 15,481,522
as above in Jan. 1903. In Sept. 1912 increased Its auth.
11,131,350
stock to $1,840.000
Total passengers
85.446.483 91.760.315 87,443,830 65,586,971
STOCK AND BONDS.- Date.
Interest. Outstanding. Maturity Kilowatt hours sold__.. 97,231,398 101,434.834 74,839.725 69,825,731
Stock, 81.840.000
Number of customers..
44,273
81.840.000 See text
38,807
32,878
29,975
Vint mortgage. $1.000.0001 1903 5 g F-A
Revenues$
$
932.000 Feb
$
i
gold ($1.000)
tflInt. atCommercial Trust Co.. Phila.,1 1921 Railway
3,581,555 3,523,768 2,481.529 2,119.163
Trust Power,light
Bonds.
and heat_ _ _ 3,386,611
-Cannot be called. $68,000
3,200,608 2,516.442 2,128,301
at. not exceeding $15,000 per mile. See are reserved for eaten. and impts Non-operating
8,875
3,744
4,136
17,021
V.76, p.65, ,n. 1212.
Total gross
6,977,041
6,728.120 5,002,107
4,264,485
OAD.-Operates 82.38 miles of
between Indianapolis, Franklin Oper. expenses and taxes 4,366.757 4,672.292 3,299,457 3,113,068
and Columbus and Seymour,of whichtrack miles
3.86
belong to Ind. Trac.& Ter
Co. Standard gauge. 60
Gross income
2,610,284 2,055,828
1,702,649 1,151,417
-lb. T rail. Mostly private right-of-way. It
Int. on funded debt_ _
connects with Indianapolis & Louisville Elec. Ry..
738,719
713,288
693.288
595,176
thus forming a througt Int. on unfunded debt_ _
line from Indianapolis to Louisville.
4,375
3,187
4,868
64,367
Other deductions
130,162
72,894
OFFICERS.-Pres., Wm.G.Irwin: V.
35,913
81,616
-P.. L.I. Sweeney: See.& Treas. Preferred dividends_
Hugh Miller. all of Columbus. Ind.
76,880
-V.88. p. 421: V. 95. p. 680.
Common dividends_ _ _ _
Depreciation
528.000
528.000
480.000
222,181
Balance,surp.for year 1,209,029
738,459
442,887
156.900
COLUMBUS, OHIO.
ROAD, &0.-149.34 miles single track, including 20.31 miles operated
COLUMBUS RAILWAY. POWER & LIGHT CO.
under contract. 243 passenger, 2 freight and 53 other cars. 4 steam-electric power stations with 75.450 k. w. capacity.
New Management.
-In Jan. 1919 Messrs. E. W.
withdrew from the management of the co. in favor of Clark & Co., Phila.,
F
OFICERS.-Pres.,Chas. L.
V.-P. Wm.A. Gill; V. & Treas.,
-P.
Columbus interests.
Norman McD. Crawford; Sec. &Kurtz;P. V. Burington
ORGANIZATION.-Incorp. in Ohio Nov. 1913 to succeea
Aud.,
'
Sec.
:
zne Colum- Aud., Herbert M. Burington; Gen. Mgr., 0. C. Slater.Asst. 112,& Asst.
bus Traction Co. (incorp. Dec. 26 1906 as successor
-V.
p. 256.
to the Central Market 743, 1282, 1739. 2305, 2413; V. 113, p.
Ry sold under creditor's bill in Feb. 1906, subject
182, 1573. 1771, 2813, 2719; V. 114.
to the
bonds).
ind took over the Columbas Ry. Co. and the Columbus 8500.000 P• 78, 409, 519, 853, 1062, 1178, 1406: V. 115, p. 988, 1837.
Edison Co.
as per plan in V. 98. D. 1839. The leases between
OHIO ELECTRIC RAILWAY CO.
Columbus By.& Lt. Co. were then canceled. The these two cos. and the
Columbus
Receivership.
-On Jan. 25 1921
Co. was acquired in Jan. 1915. See "Elec. By. Section" for Lt., Ht. & P.
Mgr., was appointed receiver for B. J. Jones, of Columbus. former Gen.
Jan. 1915.
Owns and operates the city street railway system of
the company by Federal Judge Killits.
Columbus and sub- V. 112, p. 4'70.
urban lines to Marble Cliff and Westerville, and the
commercia
Settlement of Small Claims, &c.
and power systems of the city and vicinity. Franchises l electric light
-See V. 114 p. 198.
for 20.50 miler
Leases Abrogated.
-On Aug. 5 1921 Judge Killits, in the Federal Court
of railway are perpetual; others expire in 1926. The
franchises provide Toledo, issued an order abrogating the leases of (a) Indiana Columbus at
for 6 cents cash fare or 5 tickets for 25 cents, and universal
&
transfers. Eastern Trac. Co.; (b) Columbus Newark & Zanesville Electric Ry.; and
Two of the light and power franchises are perpetual; others
expire in 1926 (c) Fort Wayne Van Wert & Lima Trac. Co.; and absolving the company of
and 1928.
all liens, demands and claims for rentals by
In June 1917 a new franchise for 25 years was granted on
the sub. cos. These companies
ville line, providing for a zone system with a sliding scale of the Wester- have since been separately operated. V. 113, p. 850. Compare V. 112.
2749,• V. 113, p. 629.
from 2;i to 6c. per zone. (In July 1919 fares were Increased fares ranging p.Foreclosure
Proceedings.
-On June 24 1921 the Fidelity Trust Co., Phila.,
per zone. V. 109, P. 270.) The company is to be allowed from 534 to 6c. filed
Its then existing investment (fixed at $350.000), and 8% onto earn 6% on cally a petition in the Federal Court at Toledo, requesting the sale of practiall the lines and equipment ofthe company to satisfy alleged obligations
future capital
Invested. The public may purchase the Westerville line at an
increase of on $5,000.000 of mortgage bonds on which interest has been defaulted.
10% over the actual value at time of purchase
V. 113, p. 72.
Suit-Judgment, &c.
-On Dec.8 1920 the present management filed suit
Sale.
-The company, including the holdings in Lima, 0., was sold at
in the Common Pleas Court at Columbus against the former
public auction Aug. 15 1922 for $2,000,000 to Thomas Newhall, Philadelcharging them with illegal expenditures, &c., of the company's managers, phia, representing
funds and
the bondholders. The holdings include the street car
asking for an accounting. V. 112, p. 256. See also V. 113, p.
1573. On sy-tem in
Jan. 21 1922 Judge E. B.Kinkead in the Court of Common Pleas, Colum- interurban Lima, the power and electric light plants of that city and the
line operating between Toledo and Lima. V. 115, p. 869.
bus awarded a judgmentfor $1.079,727 against Clarence M.Clark and
E.W.
ORGANIZATION.-Incorp. May 18 1907 in Ohio. On Aug. 31 1907
Clark & Co., Philadelphia. For further details and statement by
for Clark interests see V. 114, p. 409. A motion to make former attorney purchased the Lima & Toledo Traction Co.. which owned the line from Lima
directors to Toledo, and on Dec. 31 1909 purchased the Lima Elec.
jointly responsible was denied. V. 114, p. 1178.
which operates in the city of Lima. On Aug. 31 1907 leased Ry. & Lt. Co..
the Ft. Wayne
Valuation.
-On Mar. 18 1918 the co. submitted the results
Van Wert & Lima Trac.
a line
(ordered in June 1915 in connection with light and powerof its appraise A new lease was made in 1916, with but wasfrom Lima. 0. to Ft. Wayne, Ind.
rates) to the
abrogated by Order of Federal Court
Ohio P. U. Comm., placing a valuation of $7,105,809 on the
properties on Aug. 5 1921. Also acquired by lease the Indiana Columbus & Eastern
used in electrical operation (except in railway and district
Traction (terminate
1921), which company assigned to it the leases
106. p. 1344. In May 1918 the engineers of the Ohio P. U. heating) V. of Col. Newark & d Aug. 5Elec. Ry.
(terminated Aug.5 1921) and Dayton
a reproductive value of only $6,240,046 and a present valueComm. placed & Western Trac. Zanesville named
The last
of $5,725,963
was terminated in April 1920. V. 110.
upon the same property. V. 106, p. 2345. The physical property
of the p. 2193. On Feb. 1 1908 purchased the Cinc. Northern Trac. (subseco.(exclusive of allowance for going value,franchises and other
quently dissolved)and acquired from that company its
lease of Cinc.
values) has been appraised at 920.158.680. V. 107, p. 1287. intangible & Tol. Trac. (sold under
foreclosure June 30 1917), now under Day.
Fares.
-In Mar. 1921 the City Council passed an ordinance providing
of and operated by Cincinnati & Dayton Trac. Co. (which see). control
for
(1)6
Including city lines in Zanesville, Newark, Lima and other
-cent cash fare with 5 tickets for 25 cents during the remainder
points, operatof the
company's franchise;(2) 10
-cent fare on owl cars;(3)free universal transfers. ing mileage is 82.91 miles extending from Zanesville on the east via Newark
to Columbus (including line from Columbus to Orient
For further details see V. 110, p. 561. 658, 1526.
and Buckeye Lak and Newark to Granville branches), thence through Springfield
In Dec. 1921 the company brought out $5.000,000 ref. mtge. (serial
6s,
to Daytotj.
due 1941) bonds proceeds being used to retire by call at 102 and int. $2,703. where connection is made with the Cincinnati & Dayton
000 8% bonds due June 11924, and to retire $276,000 Central Market St. from Dayton to Union City, where connection is made with Trac. Co., and
By. 1st mtge. 5s due Jan. 1 1922, and the balance to reimburse the com- Co. of Indiana for Muncie, Anderson and Indianapolis, Union Traction
extending
north from Springfield through Urbana and Bellefonta Ind.,Lima,
pany for f.anital expenditures already made and to pay off floating debt.
V. from Lima to
and
ine to
113. P. 2719
Defiance; to Toledo, 0., and
.
In Sept. 1921 the company acquired stock control of the Columbus New and power business is conducted in cities ofFt. Wayne, Ind. Electric light
Zanesville and Lima, and steam
Albany Sr Johnstown Traction Co. In March 1922 the company acquired heating plant in Lima,
Fare Increases.
-In July 1918 was auth.
6 miles of track from the Columbus Delaware & Marion Elec. Co. V. 114,
increase passenger fares effective Aug. 11918.by the Ohio P. S. Comm. to
p. 519, 1062.
V. 107, p.402. In Oct. 1918
the I.
-S. C. Comm. auth. an increase to 234 cents per mile between points
Resumption of Diridends.-In Feb. 1922 the stockholders voted: (a) to on the co.'s
resume cash divs. on Series"B" pref. May 1, and on Series"A" pref. July 1. raise freight lines. V. 107. p. 1385. Effective Aug. 15 1918 was auth. to
rates 25%. Comnare V. 106. p. 2649.
5% to be paid on former and 6% on latter; and (b) approved stock divs. on
Effective Sept.
these issues for 1922 and for the 3 years previous during which payments V. 111, p. 1084. 9 1920 fares in Zanesville were raised from 5 to 6 cents.
In
were suspended because of financial conditions. Each holder of 10 shares of to continue to Jan. Jan. 1921 was auth. to raise fares to 6 cents in Newark,
1 1922. V. 112, p. 563.
pref."A" will receive 2.4 shares of stock and pref."B" will receive 2 shares
Interest in Default.
V. 114, p. 853. Accordingly in March 1922 the Ohio P. U. Comm. auth. 11915. No int. has-No int. has been paid on the 1st & ref. 5s since July
been paid on the 2d. & gen mtge. 5s since Dec. 1 1918.
the co. to issue $392.376 Ser. "A" pref. and $836,620 Ser. "B" pref. stock
Sale of Collateral by Syndicate.
-See V. 112, p. 258, 653, 1025.
to be distributed among stockholders in lieu of accumulated cash divs.
Operating Managers.
-In April 1920, Day & Zimmerman, Phila., took
V. 114. p. 1406.
over the management of the road in the interest (it is said), of Drexel &
The stockholders on Feb. 21 1922 voted to amend the articles of incorpora- Co., Phila..
tion so that the carital stock shall be $15,145.000, to be divided as follows foreclose the and the bondholders' protective committee. Rather than
mtges. on
$1.913.800 49' prior preference stock: $2,112,500 pref. stock, Series"A •': entered the activelma which int. is in default (see above), the bankers
nagement
$5 038,700 pref. stock Series"B"; and $6,080,000 Corn. stock. V. 114, p. man, in complete understand of the company, through 1)ay & Zimmering with Pres. W. Kesley Schoepf, and the
interests which he represents. V. 110, D. 1643.




OCT., 1922.]

ELECTRIC RAILWAYS

37

bonds out
Date. Interest. Outstanding. Maturity 'maim. when net earns, are equal to 13i times int. charges on liens given
STOCK AND BONDS
and to be issued; $1.250,000 are held to retire the underlying
$8,000.000
Common. $8.000.000 ($100)In table above. The remaining $2.100.000 are reserved for future better$6,000,000 5% non
Preferred.
ments, improvements and extensions, and can only be issued as followa:
3.000.000 See text.
cum ($100)
4,200.000 Jan 1 1930 $1.100,000 when net income is equal to 1.4 times int. charges on all bonds.
let & ref. mtge. $15.000.000 1910 5 g J-J
Including those to be issued. and $1,000,000 when net is equal to twice int.
esti Int. at Fidelity Trust Co.. Phila., Trustee
gold ($1,000)
2,927.200 June! 194' charges. Incl. int. on bonds to be issued. These bonds are subject to call in
2nd & gen mtge $5,000.000, 1913 5 g J-D
part, at 105 and Int. The Columbus London & Spring
whole, but
Trustee.
e ($1oo) ($5oo) ($1.000)- tf lot . at Fidelity Trust Co., Phila.,See text. field bonds not inbe called at 110 and Int. A sinking fund on these bondmay
5 g M-S
15,000
"0"$100.- 1914
Equip notes Series
5% of gross earnings began with year ending Sept 30 1906. See V 71.
of
tt Int. at Fidelity Trust Co., Phila.. Trustee
000 gold (1.000)
p. 963. $210,000 in sink. fund Mar.20 1922. The Day. Springfield at Ur80,000 See text'.
Equip notes "E" $130,000 1917 6 g J-J
bana bonds are subj. to call at 110 and int. A sink, fund of 5% of gross
c*tf Int. at Fidelity Trust Co., Phila., Trustee
($1,000) g
earnings began in 1903. $229.000 In sinking fund Mar. 20 1922.
-Preferred is red. at 105 on 30 days' notice.
Stock.
-Columbus to Orient, Columbus through Springfield to DayROAD.
-$3.250.000 1st & ref. bonds are reserved to retire prior liens ton, Dayton to Union City; Springfield to Lima, through Lima to Defiance,
Bonds.
El. Ry. & Lt. Co. and $2.000.000 bonds of 0. Total miles of track (electric) owned, 25,.2; leased, 95.85; total, 353.05.
($1,250.000 bonds of Lima
Ft. Wayne Van Wert & Lima Trac. Co.) and $7,550.000 for additions. standard gauge. 5 power houses. 136 cars.
-P., J. H. Sundmaker: Sec. and
Entire issue is subject to call on any interest day
betterments, &c.
OFFICERS.-Pres., J. II. McClure; V.
The Treas. F. A. Healy. The road is now operated by Day & Zimmerman.
No sinking fund.
at 105 and interest on 56 days' notice.
2nd & gen. mtge. Issue is subj. to call on any int. date for payment in cash -V. 113, p. 2720; V. 114, p. 1407, 1890, 2359; V. 115, p. 988. 1100, 1532.
or for substitution of 1st & ref. mtge. bonds of 1910 exchangeable at par
-A
on 8 weeks' notice. Bonds to be delivered for purposes of lmpts., as ap
COLUMBUS NEWARK & ZANESVILLE ELECTRIC RY. CO.
proved by Public Service Commission of Ohio or other governmental trolley road.
authority. No sinking fund. Mortgage covers all properties and leasehold
-In Oct. 1922 it was stated that the receivership
Receivership Terminated.
estate, subject to underlying lien. Series "D" equip. notes mature $5,000 had been terminated and that the property was being operated for the
semi-annually beginning Sept. 11914. Series "E" equip. notes are divided bondholders by Day & Zimmerman. It was expected that a plan for reinto Series "E 1" and Series "E 2," amounting to $100,000 and $30,000, financing and operating the property would shortly be announced. V. 115,
-a. until p. 1837. Patrick A. Berry, Columbus, 0., was appointed receiver for the
respectively, the former having priority. They mature $5,000 s.
Jan. 11928, when $15,000 is payable s.-a, to maturity. All issues of equip. company on June 4 1921 on application of the Girard Trust Co., Phila.
notes are guar., p. & I., by end. of Ohio El. By.
V. 112, p. 2536.
-For years ending Dec. 31:
-Incorporated in Ohio on July 2 1902, and in April
EARNINGS.
ORGANIZATION.
Gross.
Net.
Oth.Inc. Int&Tax. Rentals. Bal..Def
Cal. Year1904 absorbed the Newark & Granville Street Ely. In June 1906 acquired
$3,993 the Columbus Buckeye Lake & Newark Traction Co., the preferred share$1,243,363 $117,386 $1,004 $122,383
1921 x
5,019,989
918,244 13,076 769,957 808.307 646,943 holders being given $500.000 in pref. stock for their holdings. Also took
1920
x Earnings for 1921 are for receivers' period and cover only owned lines.
over the Zanesv. Ely. Light & Power Co. and was then leased on June 23
of franchise and
-37 passenger cars, 2 trailers, 17 freight and express, 1906 to the Indiana Column. & East. Trac. Co for length
EQUIPMENT.
renewals thereof. This lease was assigned to the Ohio Electric By. In 1907
8 work cars, 1 sweeper, 4 miscellaneous cars.
was abrogated by order of the Federal Court on Aug. 5 1921 and
but
-P., C. M. Cable; Sec. & property has since been operated separately. Rental was interest on bonds,
OFFICERS.-Pres., John E. Zimmerman; V.
Treas., C. E. Baker; Asst. Sec. & Asst. Treas., P. A. Healy. General an amount equal to 6% on the preferred stock (none paid subsequent to
offices, Interurban Bldg., Lima, 0.-V. 109, p. 776, 982; V. 110, p. 1643. Sept. 1 1919) and $500 for organization expenses. V. 83. p. 625. Private
1849, 2193. 2292; V. Ill, p. 693, 1084, 1472, 2325, 2424: V. 112, p. 258, right .of way from Newark to Zanesville; franchises on other lines exp.
373, 470, 563, 653, 1025. 2749; V. 113, p. 62, 629. 850, 1054, 1157; V. 114, 1925 to 1928. Entire common stock is owned by Ohio Elec. By. Co.
p. 198; V. 115, p. 437, 869.
Favorable Tax Decision -See remarks under Cincinnati Street Ely.
-The int. due Nov. 1 1919 on the co's. gen. & ref.
Interest Payments.
(1) Columbus Interurban Terminal Co.
mtge. was not paid until Feb. 1920. V. 110. p. 561. Compare V. 109,
Entire stock owned by Ohio Elec. By.. which guar. bonds.
p. 1986; V. 110, p. 167. May 1 1920 int, was paid when due. None paid
ORGANIZATION.-Incorp. in Ohio on May 24 1910. Owns and since. Int. duo Nov. 1 1920 on the $1.243,000 C. 13. L.& N. Trac. 1st Mtg.
operates since Jan. 1 1912 passenger and freight terminal stations in Cohan b
5s was not paid when due; V. Ill, p. 2010. In a notice sent to bondholders
-Gen. Chauncey B. Baker, Edwin Buchanan In Mar. 1921 the committee for the C. B. L. & N. Trac. 1st 55 stated that
Committee for 1st Mtge. 5s.
and Howard C. Park. V. 113, 1.• 531.
default had occurred "in connection with the int, on all of the bonds covering the various divisions of the C. N.& Z. Elec. Ry." V. 112. p. 1143.
Date, Interest. Outstanding. Maturity
STOCK AND BONDS-Chairman, Geo. K. Johnson;
$1.000
Committee for C. B. L. & N. Trac. 1st 5s.
Stock $10.000 ($100)
433,000 June 1 1935 W. P. Goodale, Robt. D. Kemp: Sec., L. W. Steeble, 530 Walnut St.,
First mtge $1,000.000 goldl 1910 5 g J-D
Co., Phila., Pa. Deposits have
Bk., Columbus. Trust
l'hila., Pa. Depositary, Phila. Trust
c*tf lint, at Cit. Tr.& Say.
($500) guar p & I
been called for: V. 111, p.2040; V. 112, p.561. Up to Mar. 1921 $820,000
Bonds.-RemalnIng bonds reserved for acquisition of additional real of the bonds had been deposited. V. 112. p. 1143.
estate, additions, impts., &c. Not subject to call.
-Chairman, Livingston E. Jones; Wm. A.
Committee for 1st Mtge. 55.
& Law, A. A. Montgomery; Sec., J. M. Johnston. Depositary, Girard Trust
-P., C. W. Randolph; Sec.
OFFICERS.-Pres., W. Findlay Dorms: V.
-V.93, p. 1532, 1599; V. 113, p. 531.
Treas.. C. E. Baker.
Co., Phila., Pa. Deposits have been called for. V. 111. p. 2139.
Committee for Gen. & Ref. Mtge. 5's.-(7hairman, R. M. Stinson; Alba
-A trolley road.
(2) Lima Electric Railway & Light.
B. Johnson and Claude A. Simpler. Depositary: The Land Title & Trust
Acquired by purchase by Ohio Electric Ely. Dec. 31 1909.
Co., Phila., Pa. Deposits have been called for. V. 109. p. 1986; V.
ORGANIZ aTION.-The company is a consolidation completed Aug. 1 110, p. 161. In June 1921 it was stated that over 84% ($1,026,000) of
1900 of the Lima fly. (incorporated Nov. 5 1896) and the Lima Electric this issue had been deposited. V. 112, p. 2536.
Light & Power Co. Was leased July 1 1905 to the Lima & Toledo Traction.
Date. Interest. Outstanding. Maturity.
STOCK AND BONDSwhich lease was assigned to Ohio Electric Ely. Aug. 31 1907.
$1.525.000
ommon. $1,525,000 ($100)_
Interest. Outstanding. Maturity
500.000 See text.
STOCK AND BONDS- Date.
00
Pf,6% cu,$5,000 ($100)- ---- 6 Q-J
$5.000
1,250,000 Mch 1 1924
Stock. $5,000 ($100)
Let mtge, $2.000,000. gold! 19114 5 g M-S
'
5 g A-0
350,000 Apr 1 192/5
2d c'n.(now lst)mtg.$850.000.f 1902
00
esti i Int. at Columbia Tr. Co. N. Y., trustee.
$1, 0)
( s, re
Co., Buffalo, Trustee. Gen
gold ($1,000)c•tflInt. at Fidelity Trust
1,211.000 May 1 1926
f mtge. gold, $6,- 1906 5 g M-N
900,000 Sept 1 1925
5 g M-S
Lima Elec Ry dr Light, ref! 1905
250.000 ($1,000)
c*tf Int. at Girard Trust Co., Phila., Trustee.
mortgage. $1.250.000. g_tflInt. at Girard Tr. Co.. Phila.. Pa., Trustee
1.243,000 Nov 1 1921
0 B L & N 1st mtge. $1.500.- 1901 5 g M-N
-The bonds of 1902 are a lien on the electric-light and heating
Bonds.
000,gold ($1.000)
c*tf Int. at Columbia Tr. Co., N. Y.. trustee.
plant, as well as on the railway. Cannot be called before maturity. $350.- Zanesville Ry. Lt & Pow 1st( 1902 5 g M-S
750,000 Mar 1 1924
to retire prior liens.
000 refunding bonds are reserved
cons mortgage, $1,000.000Int. at Cent. Tr.& S. D.Co.,Cinc., Trustee.
1
or Trust Co. of America, New York
($500, $1,000), gold_ _c*tf
-Owns 10.91 miles of track, alsoastearn-heating plant(franchise
ROAD.
250,000 Feb 1 1924
perpetual, operated in connection with the electric-lighting plant). Con- Zanesv Elec let mtge. $300,- 1899 7 g F-A
000, gold, subject to call Interest at International Trust Co.. Boston.
tract ordinance for city lighting expires April 1919.
after 1903.$l,000 eachcntf I Trustee.
OFFICERS.-Pres., C. W. Randolph; Sec. & Treas.. C. E. Baker; Asst.
Bonds.
-Of the $6.250,000 gen. & ref. bonds. $3,493.006 are reserved to
-V.81, p. 155. 1100.
Sec. & Asst. Treas., F. A. Healy.
retire prior liens and $1.546,000 for betterments and extensions. They are
subject to call after 5 years at 105 and int. Under terms of this mtge., none
-A trolley
INDIANA COLUMBUS & EASTERN TRACTION CO.
of the $750,000 let mtge, bonds unissued can now be issued. The entire
road.
Was leased to the Ohio Electric Ry. Aug. 31 1907, and that company issue of Col. New.& Zanesv. let 5s can be called at 110 and int. on any Int.
are subject to
guaranteed Interest on bonds and 5% divs. on pref. stock (the dividend due date. V. 80, p. 1234. The Col. Buck. L. & New, bondsZanesville
RY..
call on
Dec. 31 1915 and subsequent unpaid), but on Aug. 5 1921 lease was abro- (A. & any int, date at 110 and int. on 3 months' notice. to Mar. 1 1924.
Power bonds fell due Oct. 1 1912 but were extended
operated separately. See V. 113, p.
gated and property has since been
$250.000 reserved to retire underlying bonds. The Zanesy. Elec, 1st 7s
848, for details.
-In Jan. 1921 J. Harvey McClure was appointed receiver were originally 4s and fell due Feb. 1 1919, but were extended to Feb. 1
Receivership.
7
1924 at 73 . V. 108. p. 1165.
for the company.
-On Oct. 18 1921
Income Account.
-Jan. 26 1921 to Dec. 31 1921: gross. $1,152,440; net,
Abandonment of 60 Miles of Line Approved by Court.
Killits approved the abandonment of 60 miles of un- $168.011; other income, $2,286: taxes, $51,876: bal.. $118,421.
Federal Judge J. M.
ROAD.
-Operates 95.85 miles of track from Columbus to Zanesville,
profitable line on application of the receiver. The permission of the P. U.
city lines In Zanesville, Newark and Granville and a branch
Commission must be obtained, however, before the line can actually be Including the Lake. Operates lighting and power plants in Zanesville.
to Buckeye
P.
abandoned. V. 113, p. 1888. In May 1922 the Ohioits U. Comm. issued Standard
gauge; 60 and 70-lb. T rail and 90-1b. girder. Also owns amuseColumbus
a tentative order denying the co. auth. to abandonlines. V. 114,-Orient, rnent park on Buckeye Lake. Owns and operates its Hebron power plant
p. 2359.
Lima-Defiance and Carlisle Jct.-New Carlisle branch
with Its own natural gas.
-Incorporated in Ohio on April 14 1906 and has ac
ORGANIZATION.
-P., J. H. Sundmaker: Sec. and
V.
OFFICERS.-Pres., J.
Urbana Elec. Ry., the Columbus London Treas., F. A. Healy. V. H. McClure: 2139; V. 112, p. 561, 1143, 2536;
quired the Dayton Springfield &
111, p. 2040.
& Springfield By., the Columbus Grove City & Southwestern By., the V. 113, p. 627.
Western Ry., the
Urbana I3ellefontafne & Northern By., the Springfield & of the
Dayton &
-A trolley
FORT WAYNE VAN WERT & LIMA TRACTION CO.
Dayton & Northern Traction Co. and about 12 miles
Muncie Traction Co., extending from Greenville to Union City on the road.
Has also acquired the Columbus & Lake Michigan
Henry C. Paul was appointed ancillary re-In Jan,
Receivership.
Indiana-Ohio State line.
Defianee. whIeh has been ceiver for the company. 1921
RR., a steam road operating between Lima and
converted into electricity. Entire common stock owned by Ohio Elec. By.
-On Mar,1 1906 was leased, until expiration of franORGANIZATION.
Leased the Columbus Newark & Zanesville Elec. Ry. which company chises and renewals thereof. to Lima & Toledo Traction Co., which guaranLake & Newark Traction
had previously absorbed the Columbus Buckeyebut this'
Lease was assigned to Ohio Electric Ry.
lease was assigned teed the Interest. V 82. p. 691
the Zanesville By., Light & Power
Co. and
,
Aug. 31 1907. In 1916 a nes lease was entered into (see "Electric Ry."
Co.,
to the Ohio Elec. Ry. Aug. 311907. and was abrogated by order of Federal Supp. of April 30 1921 for details), but on Aug. 5 1921 lease was abrogated
Court In Aug. 1921. V. 113, p. 848.
by order of Federal Court and property has since been operated separately.
The general anti refondiag, mortgrum bonds were listed on the 'Mill- V. 113, p. 848. The Ohio Elec. Ry. Co. owns all the common stock.
delphis Stock Exchange In February 1907. V. 84. p. 339. See description Incorporated In Indiana and Ohio. Road is entirely on private right-ofof bonds, property. &c., in V. 83. p. 37.
-year franchises.
way except in towns, where it has 25 or 50
,
Farorahl Tar r)pcision.-so. remarks under Cincinnati Street RY.
Favorable Tar Derision -See remarks undsr Cincinnati Street By.
-Interest due Nov. 1 1919 and subsequent interest
Interest in Default.
Interest in Default.
-The co. having failed to pay the int. due Jan. 1
gen. & ref. mtge. 5s is in default.
on the company's
& Urbana E. Ry. 1st 1920 on its 1st M. 5s (subsequent int, also in default), the following comInt. being in damn on the Dayton Splagfield
formed and has called for mittee was formed and has called for deposits:
Mtge. 5s, the following protective committee was
-Chairman, J. C. Neff; George K. Johnson,
Committee for 1st M. 5s.
due Nov. 1 1921 were paid Oct. 1 1922. V. 115, George deB. Greene, Thomas J. Walsh, A. C. Robinson, T. H. Atherton,
deposits. (Coupons
Depositaries: Fidelity Trust Co.,
Secretary, 325 Chestnut St., Phila
p. 1532. None paid since.) & Urb. 1st Mtge. 5s.
-Chairman. Valentine
Committee for Dayton Spring.
S. NVilcock, John C. Phila., and Peoples Says. & Trust Co., Pittsburgh, Pa. on the co.'s lines
Winters; Wm. R. Craven. Chas. W. Slagle, Richard
Fare Increase.
-Effective June 1 1921 passenger fares
Depositary: New York Trust Co.,
between Lima, 0., and Fort Wayne, Ind., were raised 10%. V. 112.
Haswell and Costello C. Converse.
N. Y. V. 113. p. 2720.
-Chairman,C. S. W. p. 2190
Mtge. 5s.
Interest. Outstanding, Maturity.
STOOK AND BONDS- Date,
Committee for Ind. Col. & East. Gen. & Ref.
Chas. S. Potton, R. B. Young.
(11.100)$500.000
Packard; Wm. P. Gest, Sidney F. Tyler, & Gr. Annuities, Phila., Pa. Common,$500,000
500,000
n-c ($100
Pref,$500.000,
Depositary, Penna. Co. for Ins. on Lives p. 1407.
1.470,000 July 1 1930
5 a J-J
Deposit asTeement amended. See V. 114. due Oct. 11920, had not yet First mtge. $2,000,000, goldj 1905
5s,
guaranteed ($1,000) -_c* Int. at Fidelity Trust Co., Phila.. Trustee.
The $500,000 Col. Lon. & Spg. 1st M.
now accrues on this issue at 6%.
Bonds.
-Of the $2,1111,000 bonds, $530.000 are reserved for extensions
been taken up as of Oct. 18 1922. Int.
Maturity
Are not subject to call
and improvements. V 82. p 691
Date. Interest. Outstanding
STOOK AND BONDS$3,025,000
-For cal. year 1921: gross, $373,695; net, after taxes,
EARNINGS.
Common,$3,025,000 ($100)-1,000.000 See text.
5%
$10.708. In 1920. gross. $397.090; net, after taxes, $20,136.
Preferred, 111,000.000 ($100)-6,650.000 May 1 1921
-61.63 miles of electric track from Ft. Wayne via New Haven,
ROAD.
5 g M-N
Gen and ref mtge (see text) Mon Pa.Co.for Ins.on L.&O.A.,Phila.,Trus
Monroeville, Van Wert, Middlepoint. Delphos and Enda to Lima. Comc•tf Int. at
gold 41.000)
500.000 Oct 1 1920 menced complete operation Nov. 15 1905. Connects at Ft. Wayne with
1900 5 g A-0
Col Lon & Spg let mtge, $1,-1
Trust Co., New York. Trustee
the Indiana Service Corp. and at Lima with the Ohio Elec. By., and
500.000. gold($l,000)c'ntfJ Int. at N. Y.
750.000 Nov 1 1928 forms part of through line from Ft. Wayne to Toledo, Dayton and Columbus
M-N
Day SPg & Urb 1st mtge. 1898 5 g N.Y. Trust Co.. N. Y.. Trustee
Standard gauge, 70-1b. T rails.
at
$750,000, gold ($1.000)ntf I Interest
Frank H. Cutshall; Sec. & Treas., Harry E,
but auth
Bonds.
-The gen. and ref. mtge. was originally for $12,000,000
-N . 110. p. 164.
OFFICERS.-Pres..
remaining bonds 15250, Vordermark; Asst. Sec. & Asst. Treas., F. A. Healy.
amount has been reduced to $10,000,000. Of the
V. 112. p. 469, 2190; V. 113, p. 848.
000 are treas, bonds deposited with trustee and are available for extens. &




38

ELECTRIC RAILWAYS

[VoL. 115.

CINCINNATI & DAYTON TRACTION CO.
ments or betterments, but only tinder certain
Receirership.-In Dec. 1920 Geo. P. Solingen was appointed receiver rot 1% of outstanding bonds annually began Jan.conditions. Sinking fund of
11920.
the company by Judge Clarence Murphy. V. 111. p. 2423. For ruling, red. at 102 and int, on any int. date upon 39 days' notice. The 5% bonds aro
.
The
of court as to rights under various liens see below under "Foreclosure bonds are red. all or in part on any int. date on 30 days' notice 6% stamped
at 1075i
Proceedings."
int. on or before Jan. 1 1927 and thereafter at 100 plus a premium ofand
5%
Organization.-Incorp. April 26 1918 with $1,250,000 auth. capital stock, less M of 17 for each full year of expired life after July 11927. V. 115, p.
as successor to the Cincinnati Dayton & Toledo Traction Co., whose 1531. Int. is also payable at Bankers Trust Co., N.Y. City. Sink.fund
properties were sold at foreclosure on June 30 1917 to the committee for the retires $5,000 Col. Nor. By., Pow. & Equip. 1st 5s annually on Jan. 1.
$9,700,000 C. D. & T. 1st cons. 59 for $400,000. subject to $2,300.000
EARNINGS. Operating
xOperaling
-Ann. require.for- Bal.fornep.
underlying mortgages
Holders of about $250,000 undeposited bonds will Year ending- Revenue.
Income. Bd..&c..Int. Pref. Div. Com.Stk.,863
receive about $148 for each $1.000 bond in settlement.
1921
$295,749
$1.069,422
$195,569
$72,391
$27,789
Has been with. to issue $4,500,000 20
-year 5% bonds to cover present 1920
1,048.724
214.549
115,454
58,618
40,477
and futare aneds and provide for retirement of underlying bonds. V. 106.
x After taxes and depreciation.
p. 2122. Compare V. 106, p. 1461. None issued up to Oct. 1 1921.
ROAD,&c.-57 miles of single track equivalent; 23 city and 12 interurban
Committee for C. D. & T. 1st Cons. 5s.
-Leo J. Van Lahr, James M
passenger cars. 4 freight and express cars, 11 freight box
Hutton, Claude Ashbrook. Edgar Friedlander and Otto Armleder. De- dump and work cars, and 2 motor snow plows. Has car trailers, 18 flat,
a
positary, Provident Say. Bank & Trust Co., Cincinnati. For statement by distribution system in Marion and 3 steam power stations comp ete electric
having an aggrecommittee. see V. 102, p. 436. See also V. 102. p. 800.
gate capacity of 12.050 k. v. a.
Committee for Cinc. tt Ham. Elec. 1st 6s.
OFFICERS.-Pres. & Gen. Mgr.. A. F. Van Deinse; Sec.. Treas. &
-W.S. Hayden and E. V. Hale.
with Gardner Abbott. Sec., 1215 Williamson Bldg. Cleveland. Deposi- Aud., 0.0. Martindill.-V. 106, p.715: V. 110. p. 2192: V. 111. p. 701.
tary. Citizens' Say. & Tr. Co., Cleveland. Committee arranged to ad- 1471: V. 112. D. 2747; V. 114, p. 519, 1062; V. 115, P. 72, 307,
1531. 1729.
vance as a loan to depositing bondholders the amount of the unpaid coupons.
Committee for S. 0. T. Co. 1st Cons. 5s.
-Chairman, R. M. Stinson,
Livingston E. Jones, G. M. Cummings. and Edward E. Newman. See.
COLUMBUS NEW ALBANY Ec JOHNSTOWN TRAC rioN CO.
-A
Depositaries: Cleveland Trust Co. and Girard Trust Co. The May 1 trolley road.
1919 interest had not been paid to Nov. 1 1919, at which time the period
Control.
-In Sept. 1921 the Columbus By., Power & Lt. Co. acquired
of grace provided for in the indenture expired and as a result of this default control.
the committee requested the trustee to apply for a receiver and to file a
ORGANIZATION.
-Incorporated in Ohio on May 4 1899. In may
bill of foreclosure. For details see V. 109, p. 1986.
1905 canceled old mtge. for $200.000 and made the new mortgage in table
_
Foreclosure Proceedings.
-The Cinc. & Flam. Elec. 1st mtge. 6s being in below. V. 80. p. 2399. Franchises are for 25 years.
default of prin. and int. from July 1 1918, the trustee has brought suit
On Feb. 15 1919 a decrease in capital stock from $600,000 to
foreclosure jointly with the trustee of the overlapping mtge. securing in was effected, the pref. stock being reduced from $200.000 auth. $575,000
Southern Ohio Trac. 1st cons. 5s upon which the May 1 1919 int. is in the standing to $175,000. Compare V 108, p. 784. In Sept. 1920 theand outdefault. On Sept. 28 1920 a decision was rendered in effect that neither a notice decreasing its capital from $575,000 to $550,000. V. 111, p.co filed
1277.
Southern Ohio Traction mortgage nor underlying issues cover (1) the power
STOCK AND BONDS- Date.
Interest. Outstanding. Maturity.
house, (2) the termina! from College Hill into Cincinnati: but only main
line from Dayton to College Hill. Neither do the mortgages cover equip- Common.$400.000($100)$400.000
ment. Mortgagors can, if they elect, have a receiver appointed for the Preferred, 6% cum. $175,000
175,000
($100)
property covered by mortgage. This leaves the co. in complete
5 g J-J
of power house, terminal and rolling stock. A rehearing on possession First mtge, $450.000, gold 1905
None. Jan 1 1925
error was
($500 and 1.000)_ __ntf Prov. Say. Bank & Tr. Co.. Cinc.. Trustee.
asked. V. 111. p. 1565. In Dec. 1920 the court ruled that transmission
lines are a part of the power house and are not covered by mortgage. For
REPORT.
-For year ending June 30 1919. gross, $105.664: net profits,
further rulings of the Court regarding liens, &c. see V. 111, p. 2423. In $20,510; taxes and misc., $5.118; net gain from operation, $15,392.
May 1921, however, the Court of Appeals at Cincinnati, it was
ROAD.
-Operates 8.8 miles of track from Columbus to Gattanna,lnclud•
handed down a decision holding that the underlying bondholders reported, ing
perpetual lease of 2.7 miles of tracks of the Columbus Ely. as terminal;
to have their rights restored to the condition they were in when are entitled gauge,
the system
5 ft. 21n.;65-lb. T rail.
-V.108, p. 781; V. 111, p. 1277; V. 112, p.743
was operated as the Cinc. Dayton & Toledo Trac. Co., or to have such
an interest in the new power house as would equal the cost of such restora-Third rail.
SCIOTO VALLEY TRACTION CO.
tion. V. 112, p. 1977. A final appeal was taken to the Supreme Court.
See also V. 113, p. 2078. For statement regarding final decree see V.
-Incorporated in Ohio with a perpetual charter in
ORGANIZATION.
113.
p. 2613.
1904. Built on private right of way. Franchises extend beyond maturity
Defaults.
-As of Oct. 1 1921 the company was in default of
of 1st mtge. bonds. In 1908 canceled $2,000.000 mtge. of 1903 and made
interest on the Southern Ohio Trac. 1st cons. 5s. the Me.principal and new mtge. for $4.000,000, which see below. Stockholders voted Sept. 2:4
Hamilton
Elec. 1st 6s and the Dayton Trac. Co. 1st 5s. Regarding the Az
$250,000 5% 1908, authorizing $500,000 new 5% first preferred stock, which ranks
bonds of the Hamilton & Lindenwald Elec. Trans., due July 11922, W.E. ahead of old preferred stock (V.87. p. 481 and 615).
Hutton & Co.in July 1922 stated:"These bonds are 1st mtge.
In Apr. 1916 the Ohio P. U. Comm. auth. the issuance of the remaining
0., city lines, on which the Southern Ohio Trac. Co. bonds on Hamilton, $200,000 5% let pref. stock to acquire the entire stock of the Columbus
are 2d mtge.
and Cin. & Dayton Trac. Co. are 3d mtge. The entire matter now tied up Depot Co., which was incorporated in 1912 in the interest of the company
in court, nothing can be done until court hands down decision."
build a terminal in Columbus. V. 102 p. 1626.
V. 115, to In
p. 307.
Jan 1917 the co. leased from the State of Ohio for 25 years at an annual
Wages Reduced.
rental of 36.000 the bed of the old canal feeder from Lockbourne to
-V. 112, p. 2642; V. 113, p. 70.
STOCK AND BONDS- Date.
Interest. Outstanding. Maturity. Main St.. about 11 miles, for a new entrance into Columbus
In Aug. 1921 the Ohio Southern Interurban & Terminal Depot Co.
Stock, $1,250,000
$1,250,000
applied for auth. to lease
1st & Ref. Cons. Mtge
99
19185%
(7)
1938 Valley Trac, Co. The co.for the years, or sell its property to the Scioto
Underlying Issues
in
past had operatedl the property under a
short-term lease. V. 113, P. 850.
Southern Ohio Trac 1st cons 1 1900
5 g M-N
1,350,000 Ma; 1 1920
$2,000.000 ($1.000), goidc* Int. at Cleveland Trust Co., Trustee, or at
Rate Increase.
-On Aug. 20 1918 was auth. by the Ohio P. S. Comm.
to increase freight rates 25%. Effective Jan, 1 1920 passenger fares
Standard Trust Co., New York.
were
Cin & Ham Elec 1st g ($500) 1898
6 g J-J
400,000 July 1 1918 raised from 2 cents to 3 cents per mile.
$500.000, not subj to call__ Int. at Cit. Say. & Tr. Co., Cleve., Trustee.
Dayton Traction 1st M, g 1896
STOCK AND BONDS- Date.
5 g J-J
Interest. Outstanding. Maturitv
250,000 May 1 1920
($1.000), int guar
c5 Int. at Finance Co of Penn., Phila., Trustee. Common. $1,800.000 ($100)_ _
$1.800,000
See text
let pref. $500,000. 5% cu m
Ham & Lindenwald El Tral 1901
5 g J-D
489.300 Oct.'22.1 X
1st M s f $250,000, g ($1.- Interest at Cleveland 250,000 July 1 1922 Pref $1,200.000. 5% cum} ____
Trust Co.. Trustee,
(24
1,200.000 Oct.'22. 1 X
000). Int guar
1st($m1000r)t
c*
g. $4,000,000, gold' 1908
5 M-S
Bonds.
-None of the underlying Issues is subject to call.
1.426,000 Sept 1 1923
($1.000)
co tf lint. at Harris
& Say. Bk -Chic.. Trustee.
Of tne $2,000.000 South. Ohio Traction bonds, $650,000 are reserved
to
Bonds.
-Additional 1st M. bonds can only be issued for 75% of cash exretire Cin. & Ham. Electric bonds and Dayton Traction bonds.
Issue
Hated on Philadelphia Stock Exchange. The Dayton Traction 5s mature° penditures, and for permanent extensions and additions to property.
and
Jnly when net earnings are twice the lot,
originally on July 1 1916, but were extended to May 1 1920, but have
charge on outstanding bonds
yet (Oct. 11921) been paid. The Cin. & Ham. Elec. 1st 6s due July 1 not -hose to he issued. Bonds have a sinking fund of 1% per ann on bonds and
out
1918 191310 1917; thereafter 2% per ann.
had not been paid up to Oct. 1 1921 (see above.)
$216,000 have
in addition to amt. outstanding held in treasury.been retired. $308,000
The Ham. & Lind. Elec. Tran. bonds originally fell due Dec. 11911,
They are
arrangements were made at that time to extend them to July 11922. V but to call. See particulars, bonds, property, &c., in V.87, p. 679.not subject
p. 1386, 1387. Not paid at maturity. (See above.) Annual sinking 93.
Dividends.
-Dividends on old issue of pref. stock were to accrue from
of 5% on Ham. & Lind. bonds began Dec. 1 1906. increasing 1% fund act. 11905, but amounts due Jan. 1 1906 and April
each
11900 were relinquished
year up to 1911. $60,000 in sinking fund Oct. 11921.
oy shareholders, and let div. (1h'%) was paid July 1906
and 1X,% Oct.
ROAD.
-Owns 91.07 miles of electric track, connecting Cincinnati with 1906 (V. 82. p. 1440); in 1907 and since, 5% per annum. On Oct. 15 1918
sod again on Apr. 15 1919 divs. of 1% (payable in U. S. Liberty
Dayton,including Mt. Healthy and College Hill branches and the Hamilton
Loan 4J. %
city lines. Carries passengers, freight and express. Standard gauge, 60, bends) were paid on the common stock.
EARNINGS.
70 and 73
-For 12 months ending Dec. 31:
-lb. T and girder rails.
YearGross.
Net.
Int tax.,&c. Pref. Divs. Surplus.
OFFICERS.-Pres.. J. M. Hutton; V.
-P., 0. Armleder; Sec., Claud( 192
$742,713
$236,961
$131,744
Ashbrook; Treas., Lea J Van Lahr; Gen. Mgr., M. Ackerman: And., L P.
$84,465
4 752
$17:03
6
861,874
277,777
145,275
Longon.-V. 112, p. 1977, 2642; V. 113, p. 70, 2078, 2613; V. 115, P. 307.
84,465
48,036
Paid passengers carried in 1921, 1,079,567, against 1,349,135 in 1920.
ROAD.
-Operates 72 miles of track from Columbus to Lancaster and
(rein Columbus to Chillicothe. Is operated by third-rail system. Standard
(THE) COLUMBUS DELAWARE & MARION ELECTRIC CO.
ORGANIZATION.-Incorp. in Ohio June 14 1917 to take over tht gauge. 70-lb. T rail. Within city limits of Columbus, company operates
properties of the Columbus Delaware & Marion lty., sold under foreclosure over tracks of Columbus By., Pow. & Lt. Co. under oper. agreement.
on June 11 1917, subject to underlying mortgages aggregating $1.533,00C
OFFICERS.-Pres. and Mgr.. Frank A. Davis; V -Pres and Tress.
(which, however, were not assumed by the C. D.& M. Elec. Co., the rightr Edwin R. Sharp; Sec., A. C. Moorhaus; Supt. P. F. Thompson.
-V.87, p.
of such bondholders being neither enlarged nor diminished). Owns and 615,679; V. 91, p. 871; V. 102, p. 1437, 1626; V. 107, p. 83; V. 113, p. 850
operates the central station electric light and power business in Marion and
supplies several villages with electrical energy, the street railways in Marion
and Delaware, and the interurban railroad between Columbus, Delaware
CONCORD, N. H.
and Marion. Also furnishes electricity to the villages of Prospect, Radnor,
Greencamp and Caledonia. Over 76% of the interurban track is on private
CONCORD STREET RA ILW A Y.
-A trolley road
right-of-way. Has entrance to centre of Columbus over tracks of the :antral wards of Concord to Penacook. Comprised extending from the
12.71 miles
Col. By., P. & L. Co., 4.09 miles.
In June 1901 control passed to the Boston & Maine it R., and in of track.
1903 the
New Hampshire Legislature authorized the Concord & Montreal
Franchises contain no burdensome restrictions.
which is leased to the Boston & Maine, "o nurchase the property ft It.,
In Mar. 1922 sold to the Columbus By. Pow. & Lt. Co. 6 miles of track.
and to
sine stock and bonds to pay therefor.
Y. 114, p. 519. 1062.
Fare Increase.
-In Aug. 1920 the co. was auth. to increase fares from
5 cents to 6 rents V 111. 13 791
See also V 111. p. 1471
In Sept. 1922 the co. issued $1,374,000 1st & ref. mtge. stamped 6%
COOPERSTOWN, N. Y.
bonds, a portion of which was used to retire an issue of gen. & consol. series
"A" 8% bonds dated Feb. 1 1921 (called for payment Aug. 1 1922 at
SOUTHERN NEW YORK POWER & RAILWAY CORPORATI
ON.
104X and int.) V. 115, p. 307, 1531, 1729. Compare V. 115, p. 72.
ORGANIZATION.-Incorp. in New York in July 1909 as
STOCK AND BONDS- Date.
Interest. Outstanding. Maturity
tlerkimer RR., succeeding the Oneonta & Mohawk Valley the Otsego &
RR. (V. 89,
Common $3,000,000(3100)$1,200,000
p. 411). Name changed to above in July 1916. In 1917 acquired control
Prof 7% cum $3,000 ($100)- ____ 7 Q-J
1,000.000
of the Colliers Light, Heat & Power Co., Deposit Electric Co., Hartwick
First & Refunding Mortgage) 1917
1,509,000 July 1 1937 Power Co. and Southern New York Power Co.
5%
Stamped to bear 6%
1,374.000 July 1 1937
In addition to operating an electric interurban railroad the co. serves
1917
6%
$7,500 000 (31.000)
electric light, heat and power in 24 cities and towns with a population in
c; Cleveland Trust Co.. Trustee.
Col Nor By Pow & Equip. lstl 1904
203,000 Sept 1 1934 axcess of 50,000. The railroad franchise is perpetual and others are per5 g M-S
M (closed) gold ($1,000)_cf Int. at Guaranty Trust Co., N. Y., trustee. petual or extend beyond the maturity of the bonds.
Marion By, L & P 1st mtgef 1904
5 g J-J
In May 1918 was auth. by tne N. Y. 1'. S. Comm to execute a mtge.
30,000 July 1 1924
$300.000 gold (31.000)-c5 t Int. at Guaranty Trust Co.. N. 1.. trustee to the Equitable Trust Co., N. Y., as trustee, to secure $5.000,000 6%
Pr'!. stock is non-taxable in Oolo, N. Y., N. II. and Conn. Red, all or 10-year 1st M. bonds and has issued thereunder $952,000 bonds which were
part, at $115 and diva
Additional pref. stock cannot be issued without exchanged for $1.085.000 outstanding bonds of the old issue. Subseabs consent of the majority of the pref. stock, unless the net earnings avail- quently $48,000 additional were issued upon the acquisition of a like amount
nble for diva. thereon are double the requirements on the pref. stock issued of capital stock of the Southern New York Power Co. Proceeds received by
as%proposed. No stock haying priority can be auth. except with consent the latter were used in the acquisition of bonds of the Deposit Electric Co.
Remaining bonds are to be Issued from time to time for acquisitions and
of 75% of pref. stock
extensions. V. 106, p. 1578, 2230.
Bonds.
-$1,599,000 1st & ref. mtge. bonds bear 5% int., while $1,374,000
are stamped to bear 6%. The additional int. of 1% per annum is to be
STOCK AND BONDS- Date. Interest. Outstanding.
Maturity,
secured by any gen. mtge. which the co. may execute in the future. V. 115, Common $774,900 ($100)$774,900
P. 1531. $540,000 of the first & ref. mtge. bonds are reserved to retire Pref cum $500,000 ($100)_ _
500,000 Apr '22, 1(
7 Q-J
underlying bonds. Additional bonds made be issued for 80% of tho actual First Mortgage $5.000.000J _--___6%
1,000.000
cost of additional properties and permanent extensions, additions, improve($100. $500 Szi$1.000)-c*tf'Int. at Equitable Trust Co., N. Y., Trustee.




39

ELECTRIC RAILWAYS

OCT., 1922.]

Stock.-Pref. stock is free of normal Federal income tax and is tax-exempt
n N. Y. State. V. 106, p. 822.
tax
-Call. at 105 on any int. date. Tax-exempt in N. Y.,co. reBonds.
V
funded in Pa., and normal Federal income tax of 4% paid by
108. p. 2123.
-For years end. Dec. 31:
EARNINGS.
Other Balance,
Bond
Other
Net (after
Gross
Calendar
Income. Interest. Interest. Surplus.
Years- Earnings. Taxes).
$55,112
$20,022
$60,000
$1,151
$512,892 $133,983
1921
17,372
16,485
60,000
1,183
92,674
526,215
1920
-Operates 62.04 miles main and 4.63 miles second track, 50 miles
ROAD.
between Oneonta, Coope.rstown, Richfield
being on private right of way,
Y. State
Springs and Mohawk, from which point It operates over the N.operated,
Rys. to Utica, 15.10 miles, and to Herkimer, 1.40 miles. Total
and 5 motor freight cars;
83.17 miles. Rails 60 to 89 lbs.; 17 passenger service, and 25 other cars.
I electric locomotive; 4 snow plows; 1 sweeper; 3
Has a 2,509 k. w. hydro-electric power plant, with a 2,000 k. w. steam power
plant as auxiliary, connected with a high-voltage transmission line; 750
k. w. steam plant and 500 k. w. combined steam and hydro-electric plant
connected by transmission line. Owns 90 miles of transmission lines.
-Ps, S. J. Magee and C. A. GreenOFFICERS.-Pres., J. J. Mange; V.
idge; Treas., S. H. Cheney; Sec. & Asst. Treas., B. E. Michel; Gen. Mgr.,
A. J. Stratton. Under the mgt. of the J. G. White Management Corp.
V. 107, p. 83, 1921; V. 108, p. 270, 1512, 2123; V. 112, p. 163, 2749; V. 115,
p. 74.

CORNING, N. Y.
CORNING 15c PAINTED POST STREET RY.-A trolley road.
ORGANIZATION -Incorporated Dec. 11, 1894. Commenced opera.
sion Nov. 11895. Control changed hands in 1904. V. 80. p. 162.
Interest. Outstanding. Maturity
STOCK AND BONDS- Date.
$100.000 1905-06.4%
Stock. $100,000 ($100)100.000 Jan 1 1936
5 J-J
1896
lit mortgage, 8100,000
The bonds fell due originally in 1916 but were extended for 20 years.
-For cal. years:
EARNINGS.
'Balance,
Interest,
Other
Gross
Net (after
Income. Rents, ctc. Surp or def.
YearTaxes).
Earnings.
$6,050 def.$3,690
$1,623
1921
$64,247$737
27 306
5,900
1,116
32,090
1920
98,752
-Owns 5.9 miles of track from Corning to Painted Post; 20 cars
ROAD.
-P. & Sec.. G. II. Minor:
OFFICERS.-Pres.. F. D. Underwood: V.
Asst. Sec., J. E. Packer; Treas., W. J. Moody; Comp., 0. P. Crawford.
-V. 80, p. 62.

CORTLAND, N. Y.
THE CORTLAND COUNTY TRACTION.-TrolleY.
-Is a reorganization on June 22 1901 of the Cortland
ORGANIZATION.
& Homer Traction, sold at foreclosure on Apr. 23 1901. In June 1905 absorbed the Cortland & Homer Electric Co., previously controlled. Fur
nIshes light to the cities of Homer and Cortland and to the public. Carries
coal and freight as well as passengers.
The 1st Mtge. 4s, which matured April 1 1921, were, we understand,
purchased by interests connected with the co. and are being carried along
at 7% int.
tstanding. Maturity
t
STOCK AND BONDSStock. corn, $320.000 ($100)-- ----------------$320,000
180,000 April 1 1921
4 g A-0
1901
First mtge. $180.000 ($500).1County Say. Ilit. & Tr. Co., Scranton, Pa.
c51 Trnstee. Int. at co.'s office. No sink. fd
gold
Can be called on 6 months' notice.
5 g F-A
New mortgage. $500.000, g 1905
320.000 Aug 1 1931
c Interest at Empire Tr. Co., N. Y.. Trustee
($500 and $1,000)
5 J-D
105.000 June 1 1957
let & ref mtge. $2.000.000_ __ 1907
Int. at Equitable Tr. Co., N. Y., Trustee
-Of the $500,000 Issue of 1905, $180.000 are reserved to retire
Bonds.
prior liens. They are subject to call at 105.
ROAD.
-Operates 16.18 miles of track (not including sidings and turnouts) between Cortland, Homer, Little York and Preble. and between
Cortland and McGrawville. Has 33 cars.
-For fiscal year ending Dec. 31 1921, net, from operation
EARNINGS.
$59.835; other income, $2,376; bond. &c., Int., taxes. $48,420; surplus,
$13,792.
-Ps., D. W. Van Hoesen and
OFFICERS.-Pres., Edwin Duffey; V.
-V.81. p. 507.
E. H. Brewer; Treas. & Gen. Mgr., G. H. Garrison.

COVINGTON, KY.
CINCINNATI NEWPORT & COVINGTON LIGHT ec TRACTION
-A trolley road.
CO.
-Incorporated under the laws of New Jersey on
ORGANIZATION.
March 11 1902 and purchased all the stock of the Union Light, Heat &
Power Co. of Covington and of the Cincinnati Newport & Covington Rail
way. V. 74, p. 576. The latter was organized In 1892 to buy up and con
eolidate all the roads on the Kentucky side of the river opposite Cincinnati
Prior to July 1 1922 the South Covington & Cincinnati St. Ry. Co., a
Ky. corp. (formerly one of the constituent cos. of the Cinc. Newport & Coy.
Ry. Co., an Ohio corp.) acquired direct ownership of ail the street railway
properties formerly owned by the Cinc. Newport & Coy. Ry. Co. and its
subisidiaries (except the Cinc. Coy. & Rosedale Ry. Co. and the Cinc.
Coy. & Erlanger Ry. Co., whose stock it acquired) and changed its name to
the Cincinnati Newport & Covington Ity. Co.
Lease.
-The Union Lt., Ht. & Power Co. and the °Inc. Newp. & Coy.
Ry.(both controlled through stock ownership by the Cinc. Newp. & Coy
Lt. & Tr.) were leased from Apr. 1 1907 to Columbia Gas & Electric Co.
(incorporated in Ohio) for 45 years. The lessee guarantees interest on
bonds and 4 Si % per annum on preferred stock. On common, dividends are
to be 3% for first year, increasing 3. % each year until 6% is reached. which
Is to be the rate thereafter. See V. 84. p. 449, 930; also terms in V. 84. p
1489. tinder Columbia (las & Electric. tinder agreement ratified in Juls
1915 the exts. and add'ns to Union Lt., Ht. & P. Co.'s property are to be
paid for by the issue of new 50-year 5% bonds (see below) instead of by
sale of stock of the Cincinnati company as provided under the old agreement. V. 101, P. 694. The co. leases jointly with the Western Union
Telegraph Co. for a period of from 20 to 30 years, the Dixie Terminal Bldgs.,
which opened for service on Oct. 22. 1921.
The controlled Cincinnati Covington & Erlanger St. Ry., which was in
corp. Sept. 1899 with $250,000 stock (shares 850), to build an extension to
Erlanger, 74 miles (about 3 miles completed) has been leased to the
Columbia Gas & Electric.
The Fort Mitchell Erlanger & Elsmere Trac. Co., which is to build a
line from Mitchell to Erlanger, about 3 miles, will, it is stated, be leased
to the South Covington & Cincinnati St. Ry. (now Cinc. Newp. & Coy.
Ry.). V. 115, p. 988.
-On Oct. 19 1914 and Nov. 17 1915 Judge Cochran
Franchise Decisions.
In the U. S. District Court held that the franchise granted by the City
&
of Covington in 1882 to the South Covington On Cincinnati Street Ry.
Jan. 5 1915 the U.
1214.
was In effect perpetual. See V. 99, p. unlawful Interference with InterCourt declared void, as an
Supreme
of the Covington street railway ordinance
State commerce, the section
Nov. Mr
relating to overcrowding. See details in V. 100, p. 139. In by
cita
-year franchise granted
the voters of Newport rejected the 20Puchta approved a franchisethe
granted
in July 1916. On Sept. 28 1917 Mayor in the case of so-called "temporary'
City Council of Cincinnati which
by the
until
Covington and Newport routes, the former remained in force takes Jan. 1
effect.
after ordinance
until
1919 and the latter continues grant 21 mos.
will remain In force for 25 years after
other routes the
In the case of
For terms see V. 105, p. 1617. See
the date the ordinance taker effect.
also V. 115. p• 93S•
down in the U. S. Supreme Court
On Apr. 15 1918 a decision was handed Co., in the action brought by the
Cin. St. Ry.
In favor of the So. Coy. & the co. from its streets. V. 106, p. 1688. In
to oust
city of Covington
in the U. S. Dist. Court at Covington
May 1921 Judge A. M. J. Cochran this same co. has a perpetual franchise
handed down a decision holding that Ky., and that an ordinance (passed
Thomas,
on certain streets in Fort co. to pay rentals on certain streets was void.
Feb. 16 1917) compelling the
V. 112, p. 2189.




In Jan. 1920 the Union Lt., Ht. & Pow. Co. brought out $2,150,000 let
-year 6% 1st mtge. notes due
-year bonds to retire $1,560,900 2
mtge. 7% 5
Feb. 15 1920, to purchase and cancel $303.300 5% bonds due Nov. 1 1965
and to provide for eats. and impts. V. 110. p. 368, 871.
In Jury 1922 $3,709,000 Cinc. Newp. & Coy. Ky. 1st & ref. mtge. 6%
bonds were brought out, proceeds being used to refund $2,850.000 1st mtge.
5s and $859,000 2d mtge. 5s duo at that time and for impts., exts. and
•
add'ns. V. 115, p. 182.
-See V.
Modification of Agreement with Col. Gas & Elec. Co. Proposed.
114. p. 737.
Interest. Outstanding. Maturity.
STOCK AND BONDS-- Date.
$5.000,000 Oct '22. 13.
Q-J
Common.$5 000.000 MOM-- -Pref. 4t6% non-cum. $5,-1
4.500,000 Oct '22. 13.1
44S Q-J
000.000($100)
Underlying Bonds150.000 Jan 1 1932
So Cov&Cin cons NI $500.000 J 1892 6 g J-J
)Covington Say Bank & Tr. Co.. Trustee.
gold ($500, $1.000)
Cincinnati Newport Ok Covington Ry3.709,000 July 1 1917
1,t & ref mtge 87.500,0001 1922 6 g J-J
1$500 and $1.000)_ -e*tff Int. at Central Trust Co., Cinc., Trustee.
Union Light. Heat & Pauw (7o.
First mortgage $50000001 1920 7 g F-A 15 2,150,000 Feb. 151925
($100, $500 and $1,000) Int. at Union Savings Bank & Trust Co.,
Bankers
Cinc.. This., or at Banke Tr. Co.. N. Y.
tf
gold c*&r*
Guaranteed Bonds1939
185.000
5 MsS
Licking River Br Co let /fl 1914
$185,000 guar (see text) s f
Bonds.
-The C. N. & C. Ry. 1st & ref. 6% bonds are call, during first 5
-year interval
years ending with July 1927 at 1073.6. and during each 5
thereafter at 144% less until July 1 1947. During second 5 years end.
July 1932, 106. During third 5 years end. July 1937, 1013.. During
fourth 5 years end. July 19-12, 103. During fifth 5 years end. July 1947,
101. V. 115. n. 182. The Union Light, Heat & Power Co. 1st NI. 7%
bonds are a 1st lien on the co.'s property. Additional bonds of this issue
may be issued for 85% of the cost of additions and 'mists. under certain
restrictions. Are call, all or in part on any int. date on 30 days' notice at
102 and int. to and incl. Feb. 15 1923, and thereafter at 100 and int. The
Columbia Gas & Elec. Co. guar., p. & 1., the 1st M. bonds of the Union
Lt., Ht. & Pow. Co. V. 110, p. 368. Licking River bonds are guaranteed
by Columbia Gas & Elec. Co. and the South Covington & Cin. St. Ry.
is
Is being paid (1)% quar.). On com-On pref. 434
DIVIDENDS.
mon stock first div. of % was paid July 15 1907 and % Oct. 15 1907. In
4
1908. 34%;in 1909, 38 %;in 1910, 44%;in 1911. 4% 70: In 1912.54%.
In 1913. 54%; In 1914 and since. 6% per annum.
-Connects Cincinnati, Covington, Newport. Bellevue. Dayton,
ROAD.
Clifton, Southgate, Fort Thomas, Fort Mitchell, West Covington and
-lb. Johnston girder
Ludlow. Total in operation. 68 miles; laid with 80
-lb. -r" rails.
and 72
-P. Louis J. Hauck; See. &
OFFICERS.-Pres. James M. Hutton; V.
' -V.110, p. 871; V. 111, p. 1660; V. 112, p. 1616,
Treas., George M. Abbott.
2189; V. 114, p. 737. 2716: V. 115, p. 182. 988. 1099.

DALLAS, TEXAS.
DALLAS RAILWAY CO.
ORGANIZATION.-Incorp. in Texas on Sept. 22 1917 to take over and
Elec.
operate the electric railway properties formerly owned by the Dallas under
It. & Pow. Co. (see Dallas Electric Co. in this Section for Sept. 1917)
the "service-at-cast- franchise approved by the citizens of Dallas at an
election held April 3 1917. Formal acceptance of the franchise was filed
Sept. 27 1917. V. 105. p. 1419. The lighting properties of the Dallas
Electric Lt. & Pow. Co. were taken over by the Dallas Power & Light Co.,
which see below.
The company leases with the right to purchase for $2,000,000. the Oak
Cliff lines of the Northern Texas Traction Co. at an annual rental increasing
from $115,000 for the first three years to $150,000 the seventh year and
thereafter.
On Sept. 30 1917 purchased the Dallas Interurban Terminal Association, which has a modern fireproof eight-story passenger terminal and
office building in the business district of Dallas, and assumed its notes.
The terminal facilities have been leased for 20 years to the three interurnan
lines entering Dallas. The terminal was opened for service Sept. 1 1916.
On Dec. 1 1920 took over the Standard Traction Co.. which had been
operating the Mount Auburn and Park View additions to the city. V. 112.
p• 161. The company discontinued operations May 11921, the date of the
expiration of the lea,ar agreement. The Standard Traction Co. was ordered
sold on May 3 1921 to satisfy a judgment of $5,000 (V. 112, p. 17401, but
an order was signed early in May 1921 appointing Geo. P. Dunlap receiver,
'
and restraining the proposed sale. V. 112. p. 1977. In July 1921 the company resumed operation of the Standard Trac. Co.'s line. V. 113, p. 70.
Franchise.-The franchise permits; a return of 7% on the property value
fixed at $7,561,749 (on Aug. 31 1922 the figure was put at $9,419,190). and
provides for: (a) an interurban not less than 30 miles in length, from some
outside point into Dallas, work to be begun within six months from the time
of operation under the ordinance, and line to be put in actual service within
18 months from that date unless prevented by causes which could not have
been reasonably anticipated; (b) an interurban not less than 30 miles in
length from some outside point into Dallas, work to begin within six months
from the time when the gross earnings of the lines east of the Trinity
River, excluding interurbans, shall bear the same proportion to the then
property value as did the gross earnings to property value in 1913; (c) an
expenditure of $1.000,000 in altering, reconstructing, rearranging and improving the properties originally put in operation by the company, the city
to receive $200,000 damages for failure to comply with the agreement
(see program of Improvements, &c., in V. 105, p. 2271): (d) Fares-(1)
cash faro 5 cents, 22 tickets for $1; (2) cash fare 5 cents, six tickets for 25
cents; (3) cash faro 5 cents, seven tickets for 25 cents: (4) cash fare 5 cents,
3 tickets for 25c.; said schedules to be applied as follows: Whenever after
paying or providing for the return on property value, the repair, maintenance and depreciation reserve and the accident reserve are not less than
normal and the surplus reserve exceeds normal by 50%, the fares shall be
reduced to the next lower schedule than the one then in force, and if after
operating six months the surplus reserve exceeds normal by 30%, the fares
shall again be reduced to the next lower schedule, and further reductions
shall be made at six months intervals until the surplus reserve shall amount
to less than 10% in excess of normal. Whenever the surplus reserve 113
reduced to one-half of normal, the grantee may at six months intervals
put in force the next higher schedule than the one then in force until the
surplus reserve equals 90% of normal. (Effective Juno 25 1920, the Dallas
-cent fare. V. 111,
City Commission auth. the co. to charge a straight 6
P. 73. In June 1921 the company etsablished an 11-cent fare to Highland
Park. V. 112, p. 2536.) Children unuer 12 and students under 17 years
of age shall be carried for half-fare. For further details see V. 10.5. p. 1419.
In June 1922 the 6-cent fare was extended for a period of 12 months. V.
115. p. 73. See also V. 115, p. 1531.
The $1,000,000 7% notes due June 15 1920 were extended at the same
rate to "on or before Dec. 1 1927." V. 111, p. 1082.
Maturity.
Date, Interest. Outstanding.
STOCK AND BONDS$2,520500;0001
Common, $2,250,000 ($100)-- -d
Preferred$500,000 7% ($100)- sssa
See text
1,000,000
7%
Secured notes Series' A" $1,-1 1918
!Equitable Trust Co., New York, trustee.
100,000 gold
2,529.869 April 1 1922
1917
6%
Unsecured notes
text
Co..96,0OBam,
0
Car trust certificates ($1,000)1 1920 8 g M-S
ee
Strustee
ct!Int. at Fidelity Tr,
gold
750,000 Jan 1 1921
7 J-J 1
Dallas Elec Co Term Mtge 5-1 1916
year notes $1,000.000_ _ _c(Intere,st at state Street Trust Co., trustee.
Stock.-Pref. stock is entitled to 7% non-cum. divs. up to Sept. 30 1920.
and to 7% cum. divs. thereafter. Red. at 110 and dive. on 60 day notice.
Notes.
-The secured 7% notes, Series "A," originally matured June 15
1920, but have been extended to "on or before Dec. 1 1927." Redeemable
at par and interest. The car trust certifs. are due serially to Sept. 1 1923.
Secured by 50 new safety cars. Redeemable as a whole on 30 days' notice
at 1013.i and interest. V. 111, p. 791. The Dallas Elec. Term. notes
which matured Jan. 1 1921 bore 6% int. but have been extended at 7%.
-For calendar year 1921, gross, $3,716,291; not, $596.632.
EARNINGS.
In 1920, gross, $3,200.392; net, $319,989.
ROAD.-Opsrates 99 miles of track in the city of Dallas and suburbs,
Including the leased Oak Cliff lines.
--Chairman of Board, C. W.Hobson; Pres., W. M. Holland;
OFFICERS.
-P. ,Sc
-Ps., J. C. Duke, E. W. Hill, A. S. Grenier and C. B. Humphrey; V.
V.
-V. 112.
Gen. Mgr., Richard Merriwether; Sec.-Treas., .1. B. Walker.
p. 70, 959, 1359; 2613; V. 115, 1)• 73, 1531.
p 1977 2305, 2536; V. 113,

40

ELECTRIC RAILWAYS

[Von. 115.

DALLAS POWER & LIGHT CO.
Electric Railway Co. A sinking fund of 5% of gross earnings
began
ORGANIZATION.-Incorp. in Texas on Sept. 22 1917 to take over and July 1 1912, to be used in the purchase of bonds: $628.000
operate the light and power properties of the Dallas Electric Light & Powei sink, fund not incl. in amount outstanding above. Den. & Sher.held in
1st M.
Co. formerly controlled by Dallas Electric Co. (See this section for Sept. Lands are subject to nail since July 1 1917 at 105 and interest on four
1917) under the franchise approved by the citizens of Dallas at an election weeks' notice. A sinking fund began July 1 1905 of 2% per annum
of
held April 3 1917 and formally accepted on Sept. 27 1917. The railway bonds out until 1913, when amount payable became 3% per annum until
properties of the Dallas Elec. L. & P. Co. were taken over by the Dante; 1917: from 1918 to 1922. incl., 4% per annum; 1923 to 1926, incl.. 5% per
Ry Co., which see above. V. 105, p 1423. In Aug. 1922 the co. was annum: $175.000 in sinking fund not incl. in amount outstanding above
auth. to build an addition to its generating plant, estimated to cost $2,- $3,000 canceled; $74,000 in treasury (not incl. in amount reported outstg.)
Dividends.-Divs. on the first pref. stock were begun Oct.
180,000. V. 115, p. 992.
1917.
Dividends of 13%% quarterly on the 2d pref stock were begun Nov.11 1917
Does substantially all the electric light and power business in Dallas
On corn. % of 1% was paid in Mar.. June, Sept., and Dec. 1920. In
serving a population of about 174.000.
Franchise.
-The franchise provides for an expenditure of $2.000.000 in 1921, Mar.. 1%; June., 1%; Sept., 1%; Dec., 1%. In 1922. Mar., 1%.
altering, reconstructing and rearranging and improving the distributing June, 1%; Sept., 1%.
systems, power plants and properties and in making additions and extenEARNINGS for years ending Dec. 31:
sions, $1,000,000 to be expended within 18 months after Sept. 30 1917,
YearGross.
Net (aft. taxes).
Int.(net) Bal. surplus.
and $1.000.000 within the succeeding 42 months. Further provisions of 1921
$2.889,838
$1,163,646
$473,737
$689,909
the franchise are (1, definite "property value" on which the co. is author- 1920
3.460,184
1.447 112
474.177
972.935
!zed to earn 8% per annum. This auth. rate of return is increased automatROAD.
-Owns and operates interurban lines between Dallas and Deniically by specified percentages if and when the maximum rate for lighting son, 80 m.; Dallas and
Waco,
is reduced, and conversely is decreased if, under certain conditions, the (incl. 2d main track, sidings and 96.40 m.: Dallas and Corsicana, 59.89 m.
turnouts, 15.95 m.); local lines in Sherman.
maximum rate for lighting is increased (now authorized to earn 9%1. (2) Denison, McKinney,
The agreed "property value" on Sept. 30 1917 was placed at approximately &c., 33.82 m.;total, Waco, Corsicana and Waxahachie, Tex., incl. sidings.
280.09 m.(incl. 9.98 m. of track, being entrance into
$4,850,000 plus all subsequent admitted additions and improvements, Dallas. leased). Gauge
4 ft. 83% in. 70-80-lb. "T" rail 62 interurban pasthere was on August 31 1922 a "property value" of about $8,145,000. senger, 70 city
passenger,
(3) The rates for service are under the jurisdiction of the city authorities, total, 195: 13 sub-stations.20 express and baggage and 43 work, &c., cars;
Leases generating plant to Tex. Pow. & Lt. Co.
but the maximum lighting rate cannot remain lower than 6 cents per k. w. from which it purchases
power under contract, expiring at same time as lease.
hour unless the company is earning the full rate of return on the "property
OFFICERS.
-Chairman of the board, N. A. McMillan; Pres., Jack
value" and in addition is maintaining out of earnings: (a) A "surplus Beall; V.
-P. & Gen. Mgr., Burr Martin: V.
-P. & Treas., H. I. Gahagan;
reserve" of 8% on the "property value"; (b) An "accident reserve" of Sec.,
-V. 109, p. 1893; V. 112, p. 563.
2%% of the gross receipts; (e) A "maintenance and depreciation reserve" 2644;Jas. P. Griffin; Aud., J. A. Wright.
V. 113, p. 184, 844. 1157; V. 114. p. 199. 855, 1767.
of 6% of the "property value." (4) The term of the franchise is ten
years from April 3 1917, and continues thereafter unless and until the
city or its licensee shall purchase the property, in which event the city
DANBITRY, CONN.
shall pay the company at least 105%, or the city's licensee at least 110%
DANBURY & BETHEL STREET RY.
of the then "property value." (5) Provision for arbitration of disputed
Control.
-In Sept. 1917 Stephen Crute, New York, and associates
matters between the city and the company.
On June 30 1919 the co. WM auth. by the Mayor and the City Comm. acquired control. V 105. p. 1208.
.teceiver.-On Oct 30 1917 Judge James E. Walsh, of Greenwich, was
of Dallas to issue not more than $1,500.000 7% cum. pref. stock and S5.000.000 6% 30-yr. mtge. bonds. The co. in July 1919 issued at par $1,- appointed receiver of the company on application of A. FL. Flint, holder of
000.000 of the pref. stock (this was offered to the co's, employees and a $1.000 note, overdue. V. 105. p. 1801. Judge Walsh was superseded by
patrons
-V. 109. p. 984) and $4,500.000 of the bonds, the proceeds being Atty. J. Moss Ives, of Danbury. in Dec. 1917. V. 105, p 2272.
Committee for 1st & Ref. 5s.
-Chairman John McCarthy, Danbury.
used to pay off $1.000,000 1st mtge. 7% notes due Feb. 1 1920 (V. 109.
IL 479) and $4.000.0006% unsecured notes due April 11922. leaving avail- Conn,' Chas. E. Graham, New Haven, Conn., and P. Le Roy Harwood.
-V. 106, p. 498.
able for corporate purposes $220.000. On July 22 1921 the company was New London. Conn.
Foreclosure Proceedings Started.
-In Dec. 1919 a petition, on behalf of the
auth. to sell the remaining $500,000 7% pref. stock, proceeds being used to
pay $217,000 to the Electric Bond & Share Co., $155,000 due Dallas banks 2d Mtge. bondholders, was filed in the Superior Court in Bridgeport,Coon.,
asking pertnission to institute proceedings to foreclose the property. Inand the balance. 3128.000, for improvements, &c. V. 113. p. 735.
STOCK AND BONDSDate.
Interest. Outstanding. Maturity terest on the 2d mtge. bonds had not been paid for 2 years. V. 109,p. 2171.
Int. due Nov. 1 1921 on 1st Mtge. bonds was paid May 11922. V. 114,
Cora stock $2.000,000 ($100)
32.000.000
Pref. stock $1.500.000 cum___
7%
1 .F 00.000 Nov'22, 13% p. 1890.
let M Ser "A" $5.000.0001 1919 6 g J-J 1
ORCIANIZATION.-Incorp. May 7 1886 under the laws of Connecticut.
5,000,000 July 1 1949
Series"!)"
1 1919
1.100 000 July 1 11.10 Ffas a perpetual special charter, the only street car company serving the
3
73% g J-J
Series "C"
1922 5 g A-0
1,000.000 Oct. 1 1952 City of Danbury and town of Bethel. Its lines also extend to the Danbury
($500 & SENO)goldc *r*tfj Old Colony Trust Co.. Boston, Trustee.
Fair Grounds and the pleasure resort of Lake Kenosia.
Bonds.
-Are issuable in series maturing not earlier than July 1
Jitney Regulation.
-On Oct. 18 1920. the Danbury Board of Aldermen
nor later than July 1 1962. and bearing such rates of int. and red. upon1949 passed an ordinance barring all jitneys from the streets traversed by co.'s
such
terms as may be determined by the board of directors. Additional bonds cars. For further details see V. 111. p. 1751.
may be issued to the extent of 80% of the cost of exts., betterments and
In Sept. 1921 It was stated that the co. planned to establish motor bus
inlets. under certain conditions. Otherwise the authorized issue is not service to West Danbury. For details see V.113 p.1155.
limited as to amount. The series "A" bonds are red. all or in part on 30
Fare Increase.-ln July 1920 the co. increased fares on all its lines to
days' notice at 1073% and int. up to and incl. July 1 1924; 106 and int 10 cents or 25 tickets for $2. V. 111, p. 73.
through July 1 1929: 1053% and int. through July 1 1934; 104
and int
STOCK AND BONDS- Date.
Interest. Outstanding. Last Div..dic
through July 11939; 103 and int. through July 11948; 101 and lit, there$823,000 (par 825)
J-J
$320.000 Jan '12. 2%
after. Series "B" are callable all or in part on and after July 1 1930 or Stock,&
First
ref mtge $800.000 1913
5 g M-N
339.500 May 119
30 days' notice at 1073% and int. to and incl. Jan. 1 1935: 106 and int. to
($500
and incl. Jan. 1 1910: 104 and int. to and incl. Jan. 1 1945: 103 and int. Oonsol and •1 000) n s f.....:* Int. at American Trust 0o.. Boa., Trustee.
mtge, $300,000. gold 1908
5 g M-N
100.000 May 1 1936
to and incl. Jan. 1 1917: 102 and int. to and incl. Jan. 1 1948: 101 and int.
($500 and $1.000)___
Int. at American Trust Co., Boston, Trustee..
thereafter. Series"C" are callable, all or in part, on any int. date on four Debenture
bonds, $75.000 1908 6 M-S
83.000 Mar 1 1918
weeks' notice, at 105 and int. on or before Ot t. 1 1927; thereafter through
(81.000
c Int. at City National Bank of Danbury.
Oct. 1 1932 at 104 and int.; through Oct. 1 1937 at 103 and int., through Debentureand $500)
bonds, 150.000-- 1911
8 J-J
88.000 Jan 1 1921
Oct. 1 1942. at 102 and int.; through Oct. 1 1947 at 101 and mt.; and thereReceivers' ctfs 360.000
7%
55,000
after, but prior to maturity, at 1003% and int. V. 115,
Annual
Bonds.
-The 1908 debs. are red. at 105 on any int. date after due notice.
sinking and mp'ow ment fund beginning 1924,of 13% % ofp 1843. amount
the total
Up to April 1921 neither the $63,000 debentures due Mar. 1 1918 nor the
of bonds issued. Interest is payable in Boston and New York.
3
Diridends.-1%% has been paid on the pref. stock regularly quarterly $86.000 due Jan. 1 1921 had been retired. Of the 5s of 1913. $100,000 are
reserved to retire a like amount of consol. 5s and $150.000 for retirement
from 'cl,tte of issuance to and incl. November 1922.
of the two debenture issues.
EARNINGS.
-For 12 months ending Dec. 31:
Dividends.
-In 1896-97, 4%; In
Twelve
Gross
Net, after
Other
Interest,
Balance. 1900. 14%; in 1900-01, 14%; 1897-98, 4%; In 1898-99, 2%; in 1899Months- Earnings.
Taxes.
Income.
&c.
Surplut 1903-04. 14%; 1907 to 1911. 4%in 1901-02. 3%; in 1902-03. 3%; in
ann.; in 1912. Jan., 2%; none since.
1921
$2.688,504
$1,019,290
$2,095
$379,689
$641,696
ROAD.
-Trolley road in Danbury, and from
1920
2,532.656
616.021
1,646
334,783
282,884 Lake Kenosia. 15.031 miles in all: sidings, &c.,Danbury to Bethel, and to
1.044 miles; total. 16.075
OFFICERS.
-Chairman, W. B. Head; Pres., C. E. Calder; V.
-Ps., mile.. 42 passenger and 7 other cars Standard gauge
H. L. Seay, A. S. Grenier and E. W. Hill; V.
-P. & Gen. Mgr.. C. W. Davis:
REPORT.
-For cal. year 1921, gross, $171,621: net, $17,632; int. and
Sec. & Treas.. J. B. Walker; Asst. Sec.
-Asst. Treas., J. C. Thompson.
taxes, $28,454; bal., def., $10,822.
Manacement.-Operations are supervised by Electric Bond & Share Co.
turn('ELM-Pres sz, Den Man, Stephen Crute. New York: Sec.
-V. 109, p. 984; V. 113, p. 735; V. 114, p 83; V. 115, p. 992, 1843,
&
Treas., Geo. H. Klinzing, Danbury.
-V. 113, p. 1155; V. 114, p. 1890.
TEXAS ELECTRIC RAILWAY.
ORGANIZATION.-Incorp. in Texas July 5 1916 and is a consolidaDAYTON, OHIO,
tion of the Texas Traction Co. and Southern Traction Co. (see V. 104. p
CITY RAILWAY CO.
-A trolley road
862. MO). comprising a modern, high-speed electric interurban railway aye
ORGANIZATION.
-Chartered May 12 1893. Is
tern serving a number of cities and towns in Texas, in and adjacent to the Dayton Street ER.. the Dayton & Soldiers Home a consolidation of the
RR., the Fifth Street
"Black Waxy Belt." including Dallas, Waco, Denison. Sherman, Corsi
RR. Franchises run for 50 years from Feb. 8 1892 and April 19 1893.
eana, Waxahachie and McKinney. Also owns and operates the local
Fare Increase.
-On July 6 1920 was with. to charge a 7
-cent
railway systems in all of these cities except Dallas. Present estimated p. 294. On Aug. 27 1921. however, the co. returned to a 5 fare. V. 111.
street
-cent fare, with
population connected and served. 375.000. Leases for 20 years from Dec a 1-cent charge for transfers. V. 113, p. 1052.
17 1915 the terminal facilities of the Dallas Ry. Interurban lines are
STOCK -$2.400.000 ($100) corn. auth.an I issued and $600.000 ($100)
located on private right-of-way; city franchises are satisfactory, and, in the 6% pref. auth. and issued. Bond issues have been paid o f.
opinion of counsel, with two unimportant exceptions, extend well beyond
Ditridends.-6% per annum Is being paid on pref. On common, in 1900
1947. Enters Dallas over tracks of the Dallas Railway Co. under long-term to 1903, incl., 8%; also 16 2-3% (3250,000 in new stock at par or In cash).
contract.
declared Nov 1903. paid Jan. 11904; in 1904.6%;in 1905.84%;1908 to
In Sept. 1921 the company filed an amendment to its charter increasing 1910. Inclusive, 7% pet ann.; in Feb. 1907 Paid a
special
its capital stock from $10.500.000 to $12,660,000, to provide for the issuance (V• 83. p. 1590); In 1911. 7%.and in April 1911 a special div. clly. of 5%•
of $2,160 000 additional first pref. stock, into which the 6% debentures be. (V. 92, p. 1178); in 1912. Jan., 13.1%. In March 1912 beganof $9 09 1-11
paying dive.
came convertible after Jan. 11922. V. 113, p. 1157.
Q.
-J.. and on March 31 paid 14 %;June, 2%;Sept.. 2%;
-M.Instead of Q.
STOOK AND BONDS- Date. Interest.
Outstanding. Maturity. Dec., 2%. In 1913. 8%. In 1914. 7U%. In 1915, 6%. In 1918.
4%. In 1917. 7%. In 1918, 6%. In 1919. 6%. In 1920, 6%.
Corn stock $6.000.00 ($100)$6.000.000
See text
In 1921, 6%. In 1922, March. V of 1%; June. Y of 1%; Sept.,
t
1st pf7% cum $3.660.000($100)---t
966,000 Oct '22, 1
Q-J
34 of 1%
EARNINGS.
-For year ending Dec. 31 1921. gross (affected by strike).
2d pref stock $3.000.0003100--_Q-F
3,000,000 Nov '22, 1%
H
1st & ref Mtge gold ($500 &L1917
5.571.000 Jan 1194, $834,950: in 1920, gross, $1,108.427; in 1919. gross, $986.966.
5 g J-J
ROAD.
-Controls and operates in all 37.859 miles of single track,
end arris Trust & Say. Bank, Chicago, Trus
$1,000)
Cony debentures $3,000,000 1917 6g J-J
1,894.000 Jan 1 1942 namely: Third Street Line, Fifth Street Line, Green Line and Kammer Ave.
41.0C9 and 8500)__c*&r Int. at St. Louis Un. Tr. Co.. trus.. or N. Y. Line. Gauge 4 ft. 83% in.: rails 70 and 80-lb. T. and 70 and 90-1b. girder;
Texas Traction 1st M sink fd 1907
1.250.000 Jan 1 1937 operating 42 G. E. 67 and 50 G. E. 800 motor equipments, 134 pass. cars,
5 g J-J
$3.000,000 ($1,000)gc*Strtf Int. at Old Colony Trust Co.. Boston, True 3 sprinklers, 3 snow cars. 2 sand cars, 3 flat cars, 1 tool car and 1 work car.
OF10ERS.-Pres., Valentine Winters; 1st V. , G. G. Shaw; 2d V.
-P
Den dc Sher first mortgage,f 1902
5 J-J
58.000 July 1 1927
-P.,
H. P. Clegg; 3d V.
-P., G. II. Gorman; Sec., T A. Ferneding; Asst. See.,
$350.000 41.000)
c*tf 1 Int. at Illinois Tr. & Say. Bk., Chic., True.
-Remaining 1st pref. stock is held in treasury. Red. on J. S. McMahon;Gen. Mgr., T. E. Howell; Asst. Gen. Mgr., 11. C. De Camp
Preferred Stock.
any div.date after Jan. 1 1922 at 1074 and div. on 30 days' notice. The 2d Main office, 511-514 Mutual Ilome Bldg., Dayton.
-V. 111, p. 294; V.
113, p. 292, 627, 1052.
pref. stock is callable on any div. date on 3 days' notice at 1073% Ind div
Bonds.-Addltional 1st & ref. bonds may he issued for only 75% of the
DAYTON COVINGTON & PIQUA TRACTION.
-A trolley road.
cost of extensions, &c., provided net earnings are twice the total annual
Receivership -In Mar. 1922 T. Russell Robinson, V.
interest charge, including bonds applied for. In addition to ordinary re
-P. & Gen. Mgr.,
serves for personal injuries and damages. $75,000 bonds are provided usable Boston, and W. Kessler, West Milton, Ohio, were appointed receivers for
for this sole purpose. Provision is also made for refunding underlying bon& the co. V. 114. p. 1178.
ORGANIZATION.
-This was formerly known as the Dayton & Troy
A special trust fund for maint. and renewals is provided out of gross earnings as follows: 1917. 11%; 1918, 12%; 1919. 13%; 1920, 14%; 1921 and Traction, but name changed to the above in Aug. 1901. The D. & T.
thereafter. 15%. Any part not so used may be expended for ext.s.. &c. Traction was Incorporated in Ohio in Jan. 1900 to build a street railway
or for the redemption of any outstanding bonds. Yearly since April 1 1921. from Dayton to Troy, but route was changed, and road constructed from
Dayton to Covington and Piqua. about 38 miles. Company acquire.' th.
cash equal to 1% of the first and refunding 5s and underlying bonds out- right
standing on the previous Dec. 31,-less amount of payments to underlying The to use the tracks of the People's Ry. In entering city of Dayton.
$60,000 2d mtge. 6s due Sept. 1 1919 were we understand, extended
year, to be deposited, usable for extensinking funds during preceding
sions, &c., against which no first & ref. 5s shall be Issued, or for the retire- to April 1 1922 at the same rate of int Neither the 1st nor 2d mtge. bonds
ment of let & ref. or underlying bonds. The 1st & ref. Sc are red. on any had been paid off up to Oct. 1 1922.
STOCK AND BONDSint, date up to and Incl. Jan. 1 1942 at 105 and int.: thereafter at 1024 and
.
tstanding. Maturtit
int. Of the amount reported outstanding $52,000 are held in treasury Stock auth, 1600,000 (3100)-- ---------------$600,000
Pref. 5% n-c, $550,000 ($100)
Interest is payable in Chicago and New York. See offering in V. 106, p
550,000
397. The debs. are callahle on ,,ny int, date since Jan. 1 1922 on 30 days' First mortgage, 3550,000,
1902
5 g A-0
490,000 April 1 1922
($1OM)
notice at 1023% and int.: convertible since Jan. 1 1922 into 7% cum. 1st pref.
cs_ntf Int. at Old Colony Tr. Co., Boston, Trustee.
stock. p -r fcr par. with adjustment of int. and divs. See also V. 113, Second mortgage. $80,000_nt ____
6 g M-S
60,000 April 1
p. 11. 7; V. 11-i. p. 199.
;
1
Bonds.
-380.000 let mtge. bonds are reserved for extensions and 1'.:22
imThe Texas Tracion let tic can be called at 110 & accrued interest provements; 2d mtge. bonds originally matured Sept. 1 1919 but were,
we
on any int. date upon 30 days' notice. 5288.000 (not incl. in amount understand, extended to April 1 1922. Not paid off up to
time o:going
reported otitstandirg) are deposited under 1st & ref. mtge. of the Texat to press.




OCT., 1922.]

ELECTRIC RAILWAYS

41

Dividends.-Prior to July 1909 dividends were at rate of 6% per annum.
paid quar-For years ending June 30:
EARNINGS.
Surplus. [n July 1909 quer. div. was increased to 2% and same amount was paid
Net. aft. Taxes. Interest.
Gross.
was reduced and 1%
Yeardef.$13,533 terly to July 1913. In Oct. 1913 rate and incl. April 1915. In July
$29,697
$16,164
$236.788
1920-21
p. 1115). Same rate quer. to
21,350 (V. 97.
29,706
51.056
omitted.
241.184
1919-20
17,959 19E5 rate was further reduced to 14 of 1%. Oct. 1915 dividend
31,124
49,083
215.691
1918-19
101 p. 1188. 1370. None since.
- V REPORT.
Tramway .Rystem for fiscal year ending Dec. 31
Standard gauge. 70-lb. T. 80 and 90
-Of Denver
-Total track 38 miles.
ROAD.
express cars and 7 other cars.
(inter-co. transactions eliminated). Report for 1918 in V. 109. p. 1887.
lb. girder rails. 11 passenger cars, 2V.
DeducOther
-P.. F. L. Chapin; Gen. Mgr.. T. Fiscal
Net (after
OFFICERS.-Pres., W. Kessler;
Surplus.
lions.
Income.
77, p. 146; V. 114. P. 1178.
-V.
Taxes. ,*c.).
Year- Earnings.
Russell Robinson; Supt., T. J. Brennan.
35
211 . 80
8
$958,055 def.$101.53
$17,078
5822.097
13.597,999
1918
968.617
19.818
1.150.352
__.
1917_ _ 3.419.468
& TROY ELECTRIC RY.-A trolley road.
H. S. Robertson; Treas., H. J.
DAYTON
-P., S. M. Perry; Sec.,
-V.
OFFICERS.
and private
public
ORGANIZATION.-Incorp. 1900. Is built on both received a 20-year klexander; Aud., W. A. Doty. V. 106, P. 2345.
right of way. Completed in Dec. 1901. In Dec. 1915
Power house located
-Operating Compantl.
(I) Denver Tramway Co.
extension of its franchise in Piqua. Rails. 70-lb T.
corn. auth. and Issued
The Denver & Northwestern Ky. owns $9.791.700 of the common stock.
at Tippecanoe City, Ohio. Stock, $500.000 ($100)
-On Dec. 21 1920 Ernest Stenger, Pres. & Gen Mgr., was
MOO) 5% cum pref. auth.; $617,800 Issued. No bonds
Receivership.
and $800.000
99-year
contemplated. In May 1902 took over Miami Valley Ry. understock of appointed receiver for the company on application of the Westinghouse
applicable to
Elec. & Mfg Co. V. 112, p. 61.
lease at a 'rental of 19.600 per annum, which Is
having been canceled.
$300.000. mortgage
ORGANIZATION.-Incorp. March 30 1914 in Colorado as successor
-In Aug. 1922 was auth. by the Piqua City Council to to the Denver City Tramway Co.. which had previously absorbed the DenFare Increase.
988.
ver Tramway Power Co. and the Denver Tramway Terminals Co. Owns
Increase fares from 5 to 6 cents. V. 115, p.
(inDtvideads.-On the pref. stock 5% per animal paid to Dec. 31 1919. entire $500.000 stock of the Consolidated Securities & Investing Co Real
None since. On corn., Jan. 1 1901, 2%;in 1905; corp. on the same date to succeed the Denver Realty Co.. Boulevard
In 1920, Mar. 11t%.
5%; in 1910, 6%
Estate Co. and Denver Excursion Co.). which in turn owns all the outstand6%; in 1906. 6%; in 1907. 2%; in 1908, none; in 1909,
111%,
RR. See plan of rein 1911. 5%; in 1912. Mar., 114%. In 1913, Sept., 11i%; Dec., each ing stock and bonds of the Denver & Inter-Mountain V
98. Cl• 1156.
organization under "Denver & Northwestern Ry." in
In 1914, June, 11(%; in 1915. Dec.. 11i,%; in 1916 and 1917, 5%
franchise
-Operates within the city of Denver under a general g
Franchises.
None since.
granted Feb. 5 1885. Also under a 20-yr. grant voted by tax-payin electors
-For years ending Dec. 31:
EARNINGS.
it to maintain three-rail tracks.
Deduans. Dividends. Surplus of the city in May 1906, which authorizes
Net.
Gross.
Year$37.950 gauges 3 ft. 6 in. and 4 ft. 814 in., over all its present lines within the city
$61,316
$99.267
$391,513
1921
31.268 and permits the construction of certain viaducts and extensions. See de8.098
48.215
90.611
417.674
1920
24.349 cision in IT. 84. P. 220. Under decision of the U. S. Circuit Court of Ap32.390
46.910
103.649
392.583
1919
the Court deDayton peals on Nov. 11 1912 the franchise of 1885 was held valid,
-Owns equivalent of 32.48 miles of single track between m local ciding that in view of the franchise of 1908 It was unnecessary to pass upon
ROAD.
and Troy. Leases 14.25 miles between Troy and Piqua (incl. 3.31 Dayton. the duration of the older franchise at that time The company claims that
in
lines In Piqua); total operated, 46.93 m. has a freight station
its franchise is perpetual. See decision In V. 95. p 1472.
which is used jointly with the Dayton & Western Traction.
-In connection with fare hearings the co.. in Nov. 1918.
Valuation.
-P. & Gen. Mgr. R. A. Crume; placed the reproduction cost of its properties at 126.772,888. as of Dec. 31
OFFICERS.-Pres„ H. P. Clegg; V.
'
General Office, Dayton. 1917. The P. U. Comm.'. valuation of the same properties (in this case
F Keller
C. Clegg: Aud.,
Sec. & Tress . L.
in the
"going value" and items for gravel beds and water rights included cost at
Ohlo.-V. 102, p. 152; V. 114, p. 305; V. 115, p. 988.
co.'s figure were not taken into account) fixed the reproduction
report for 1918 in V. 109, p. 1887.
.
$19.495.374. Compare annual
DAYTON SPRINGFIELD & XENIA SOUTHERN RY.-Trolley
-On Sept. 6 1918 the Denver City Council passed an
Fare Increases.
-Incorporated in 1909 as successor to the Dayton & ordinance auth. the co. to charge a 6
-cent fare on city lines. V. 107. p.
ORGANIZATION.
sold at foreclosure. On July 6 1920 was auth. to charge 101)3. On Sept. 12 1918 the Col P. U. Corn. auth the co. to put into efXenia Transit Co.,
a 7-cent fare. Stock, auth. and outstanding, $200,000 corn.and $300,000 fect a 6
-cent fare beginning Sept. 15 1918. An Increase of 3 cents in the
for year
pref. Par $100. 1st M. auth. and Issued, $500.000. Earnings In 1918. one-way and 8
-cents in the round-trip fares on the Interurban lines to
V 107. p 1192. As a result
ending Dec. 311919, gross, $267.589; net, after taxes, $43,940.
Golden and Leyden was also authorized
gross, $221.484; net, after taxes, $40.154.
of a wage award made by the Nat'l War Labor Board to the co.'s employees
track from Dayton to the co asked for a 7-cent fare with a 1-cent charge for transfers, this
-Owns and operates about 24 miles of
ROAD.
between petition being granted by the Col. P. U. Comm. on Dec. 17 1918. V 107.
Xenia and from Dayton to Beaverton. On Dec. 1 1917 operations
proven unprofitable.
2097 On Dec. 23 1918. however, the
Beaverton and Spring Valley. 11% miles, havingwas subsequently di.- p. 2376. Co npare V 107. p. a rehearing on the 7-cent fare. V. 108.
were discontinued and that portion of the lineFerneding; Sec., H. L. city petitioned the Comm. for
a 1rate
-P., T. A.
p. 77. On Jan. 15 1919 the Comm. suspended the 7-cent 1919 with City
Pres. 0. J. Ferneding; V.
mantled.
the
-V. 89, p. 285; V. 105. cent charge for transfers. V. 108. p. 3 8. On June 30
Ferneding; Treas., Edw. Canby, all of Dayton.
co. to
Council repealed the ordinance passed Sept. 6 1918 allowing theV. 109,
D. 2272; V. 113. p. 70.
-cent fare was restored July 5 1919.
charge a 6-cent fare. The 5
July 7 reduced wages to
P. 172. Because of the decreased fare, the co. onstrike. This was settled
-Trolley road.
DAYTON & WESTERN TRACTION.
the pre-war scale, which resulted in a three-day
-cent fare tempor-Incorporated on June 26 1898. Was leased on by the city agreeing to pass an ordinance restoring the 6
ORGANIZATION.
June 15 1906 to Ind. Colum & East., but lease was abrogated and the pro- arily. At an election held Oct. 22 1919 the voters turned down both the
-cost plan. V. 109. p. 1609. Compare
perty turned back to the co. for operation on April 25 1920.
elastic 6-cent fare and service-at
Div. Period. Outstand'g. Last Dividend
V. 109, p. 1461. A new ordinance effective Nov. 13 1919. however, was
STOCKSee text. passed. This provided for a 6-cent fare and was granted in order to avoid
$672,500
Q-J
Common. $900.000 ($100)
See text. a strike of the company's employees. V. 109. p. 1986: see also V. 111. p.
850.000
(-2-N4
Prof. $850,000 ($100) 5% cum
-Were paid under the terms of the lease up to March 1920. 1566. In May 1920 the City Council rejected the company's petition for a
Dividends.
at the next general
None since. For terms of lease see "Electric Railway" Section for April 7-cent fare and referred the ordinance to the voters Federal Judge Lewis
election to be held in May 1921, but in March 1921
1920.
-For 12 mos. ended Dec. 31 1921, gross, $275.253: net, auth. the receiver to increase fares from 6 cents to 8 cents. V. 112. p. 1024.
EARNINGS.
Compare V. 112. p. 744: V. 114, p. 78. On Aug. 1 1921 Interurban rates
after taxes, def., $4.946.
-Dayton, 0., to Richmond, Ind. At Richmond connection is were increased 20%. V. 113. p. 847.
ROAD.
-See V.
Haute. Ind. & East. Tree.. making possible the operation
Report of Citizens' Committee Recommending Service at Cost.
made with Terre
of through cars from Indianapolis, via Dayton. to Columbus, a distance of 108. p. 2329.
In March 1919 the company announced its inability,caused by abnormal
194 miles. Operates 3 fast cars between Dayton and Indianapolis withused jointly with
out change. Has a frei4ht station in Dayton which isthe Dayton Power conditions, to take UD or refund the $2.000.000 1st M. 5s of the Denver
City Tramway Co. due April 1 1919. The co. therefore arranged for an
the Dayton & Troy Elec. Ry. Purchases power from
extension of these bonds at 6% to April 1 1924. The extended Issue is
Light Co. Has 3 automatic sub-stations.
&
on any interest date. V. 108. p. 1060.
OFFICERS.-Pres. and Treas., Valentine Winters; Sec.. J. II. Winters; redeemable as a whole at 10214
The $2,500.000 cony. 6% bonds of the co. due April 1 1919 were exGen. Mgr., Henry Gebhart; And., P. A. Hommel.-V. 82. p. 1437; V. 83, changed for an issue of 3
-year 7% coll, trust notes due April 1 1922. These
p. 36, 94. 379; V. 110, p. 2192.
were not retired at maturity but are still outstanding. V. 114, p. 1890.
interest Payments.-In March 1921 Federal Judge Lewis ordered Lae re-A trolley road.
OAKWOOD STREET RAILWAY CO.
ceiver to pay the int. on the following band issues: (a) the April 1 1921 int.
In Ohio. Franchise ex- on (1) $2.000.000 Denver City Tram. purch. money ext 6s'(2) 11.167.000
-Incorporated July 22 1870
ORGANIZATION.
held the franchise valid Denver Consol. Tram. Cons. Mtge .5s; (3) $884,000 Denver Tram, Power
pires 1941. In Oct. 1909 the Ohio Supreme Court
was auth. to
On July 6
over the objections of the City Solicitor.returned to a 1920 fare with a 1st Impt. Mtge. 55: (b) the March 1 1921 int. on the 81,033.000 Denver
-cent
5
charge a 7-cent fare, but on Aug. 27 1921 and outstanding. $500.000 (par Tram. Terminals 1st mtge. 5s. V. 112. n 1399. in
As of April 1 1922 we were advised that int. was default on the Denver
charge for transfers. St ck auth.
1-cent
in Dayton and suburbs and & Northwestern Ry. Co. 1st & coll. mtge. 5% bonds., the Denver City
$100). No bonds. Operates 8 miles of track
in Oakwood village;
leases (from Jan. 1 1916) the Oakwood RR's line Treas., H. P. Clegg; Tramway 1st & ref. mtge. 5% bonds and the Denver Tramway Co. 7%
Pres. &
P. 1890.
total miles operated. 10.5. Standard gauge. J. H. Winters; Sec.. Harry C. coll. trust notes. V. 114,has called for deposits:
-P..
The following cominittee
-P. & Gen. Mgr. Henry Gebhart; V. 1438: V. 113. D. 72.
V.
Committee for Denver City Tramway 1st & Ref. 53.-0. K. Boettcher,
-V. 100, D.
Dayton.
all of,
Weingartner.
El. Martin Brown, Jas C. Burger, C. M. Clark, Donald C. Geddes, J. O.
B. W. Jones, 16 Wall St., N. Y. City.
Mitchell. C. C. Parks:
Sec..
Depositaries: Bankers Trust Co., N. Y. City; International Trust Co..
DECATUR, INDIANA.
Denver, Colo., Industrial Trust Co., Providence, R. I. V. 112, To• 1616.
DECATUR TRACTION CO.
FORT WAYNE &
Interest. Outstanding. Maturity
STOCK AND BONDS- Date.
to succeed the FortWayne &
0RGANIZATION.-Incorp.on June 1 1916
.000.060
Common stock $10.000.000--- ____
2 1915 (see V. 101. p
Springfield Ity., bought in at receiver's sale on Dec.
_-_________$10See text
Prof stk 13.000.000(7%
the Indiana P. S. Comm. approved the purchase
2144). On June 23 1916
1919 -%
7
2.500.000 Apr, I 1922
cum)--0. Comm. to increase Coll trust notes gold
Fares.-In Jan. 1918 was auth by the I.-S.
496,100 May 1 1932
fares from 2 to 23j Henv & N W Ry 1st & coil MI 1902 5 g M-N
passenger fares 15%. In 1919 was auth. to increase
0
6 ( um
gi AS 00 .00O 1500 and{ Int. at Bankers Trust Co.. New York.
cents per mile and in Oct. 1920 to 3 cents per mile.
c*( trustee; also office of co. In Denver.
Date. Interest. Outstanding. Maturity.
STOOK AND BONDS.Ti
ed. at 105 and lot, on 90 days notice.
$150.000
Stock 5150.000 ($100)
11.306,400
156.000 June 1 1926 Den City Tr Co 1st & ref M( 1908at 5 g M-N Trust Co.. Nov 1 1933
6%
Bankers
New York.
First mortgage $200.000 gold' 1916 Tri-State L.& Tr.Co.,Ft.Wayne.trus
$25.000.000 g ($500 and Int.
at
f Int.
($1.000)
$1.000) sinking fund. _Ott I trustee, and in Denver.
6 g A-0
Dens City Tram purchase 1899
2.000.000 Apr 1 1924
-For years ending Dec. 31:
EARNINGS.
Balance.
Taxes. Interest.
Net, aft.
money mtge g $2.000.000 Int. at Central Trust Co.. N Y.. trustee.
Gross.
Cal. Years59.360
def.$7.788
11.572
($500 and $1.000)--__c*tf i and in Denver (see text above).
183.173
1921
9.360
sur.11,560 Dens Cons Tram cons cntgel 1893
20.920
5 g A-0
1,167.000 Oct 1 1933
98.981
1920
sur.7.169
9.360
16,529
..ntt Int.at Bias Tr.Clo..N.Y..trustee & in Denver
74.344
$4.000.000 gold._
1919
5 g A-0
.._836.000 Apr 1 1923
-Operates 21.6 miles between Decatur and Ft. Waye. Total Deny Tr Pow 1st Impt mtge 1903
ROAD.
-V. 108. P. 480.
enver, trustee,
$1.500.000 g ($1.000) guar/ Int. at Internat. Tr.
track. 23.7 miles. 70.4b. T rail; gauge. 4 ft. 814 In.
or Guaranty Trust Co.
principal and interest._ .tt
Co.,'New York.
Deny Tr Term 1st mtge $1.- 1910
5 g M-S
.
913,000
See text
500.000 g (2100 & $1.000)( Interest at Bankers Trust Co.. N. Y., trusDELAWARE, OHIO.
c*tf1 tee, and in Denver.
guar prin & int
NORTHERN
COLUMBUS MAGNETIC SPRINGS & line had been RY.
Stock.-$9,791.700 common owned by Denver & Northwestern Ry. of
this
abandoned and
In April 1920 we were informed that
which $750,000 is held for conversion of Deny. Tramway cony. bonds, the
dismantled. For history see this Section for Nov. 15 1919.
remaining $250,000 being set aside for expenses of organizing Denver Tr. Co.
Bonds.-Of the bonds reported outstanding as above. $1,427.550 Denver
City Tramway 1st & ref 5s and $18.000 Denver Tramway Terminals 1st
DENVER, COL.
5s are owned by the Denver Tramway Company. Of the Denver &
Northwestern first and collateral mortgage bonds. $5.503.000 have been
THE DENVER TRAMWAY SYSTEM.
exchanged for Denver City Tramway first and refunding 5s. and $900
Northwestern Ry.-A holding company.
are in treasury of Denver Tramway Co. (not included in amount re(1) Denver &ION.&c.
-1n Mar. 1913 a syndicate headed by Boettcher, ported outstanding). Of the Denver Consolidated Tramway first consoliORGANIZAT
a controlling interest through purchase of dated 5s. $163.000 have been canceled and $2.670.000 have been exchanged
Porter & Co. of Denver acquired
held by Marsden J. Perry of Providence
the stock (about $1.600.000) holdings about a 75% Int. V. 96. p. 863 for Denver City Tramway 1st & Ref. 5s. The Denver City Tramway
Co.. prior to the sale of its properties, executed a mtge. upon all its physical
purchase making its total
this
V.98. p.1156. went into effect„ is simply
This company, since the plan In only asset being the $9,791,700 common properties (other than those formerly belonging to the Denver & Northits
a holding company. practicallyCo.. which is pledged as security for the $6.- western Ry. Co.)junior to the lien of its First & Ref. S. F. Mtge.(originally
matured Aim 1 1919 and bore int. at 5%, but were extended to Apr. 1 lb24
stock of the Denver Tramway
co.. and Its only liability being 16.000.000
000.000 1st & Coll, bonds of thisin the hands of the public, the payment of at 6%)as additional security for the ($6.000.0001 First & Collat, bonds of the
Deny.& Northw. Co.,the payment of which Northwestern bonds the Deny.
capital stock outstanding
of Its
assume I by the Denver Tramway Co.
Tramway Co. has assumed. Denver City Tr. Co. 1st & Ref. bonds are
its bonds having been
Maturity. red. at 105 & int. after 1913 up to Nov. 1 1923: thereafter at 10214 & it,
BONDS.- Date. Interest. Outstanding.
STOOK AND
See text
16.000.000
on 60 days' notice. Sinking fund of 1% of bonds out began Nov. 1 1914
Q-J 10
Stock $6,000.000($100)------see below).
until and incl. Nov. 11923; thereafter 2% of bonds out: $1,109,500 retired
by Deny.Tram.Co.
First and collateral mtge (assumed
through sinking fund. The Denver Tramway Power Co. 1st Impt. Mtge.
-$900 is in the treasury.
Stock.




42

ELECTRIC RAILWAYS

bonds are subj. to call any int. date at 105 and int., sinking fund of $50,000
per annum, to retire bonds at 105 and int., commenced in 1908, and $661.000 have been retired (incl. $48,000 called for payment May 5 1921). Interest payable in New York and Denver. The remaining Denver Tram.
Term. Co. bonds are for impts. They mature $60,000 annually Sept. 1
1918 to 1940. Red. as a whole on any int. day at 105 & int. on 30 days
notice. V. 98, p. 1156. $120,000 retired.
REPORT.
-Of Denver Tramway Co.(1918 report in V. lb,.p. 1887):
Dec. 31 YearGross. Net(aft.Taz..&c.) 0th. Inc. Deduc. Bal.,Sur.
1918
$3,453,520
$823,251
3.846 $958,055 df$130.958
1917
3.279.576
1.143.474 2.412
968,617
177.269
ROAD AND EQUIPMENT.
-Including the Denver & Inter-Mounty
RR.. owns 250.51 miles of electric track, of which there are 210.87 miles in
ot
City lines and 39.64 miles of interurban lines; gauge. 3 ft. 6 in.
4 ft.
84 in. 263 motor passenger cars. 122 trailers. 152 freight and and mIse
98
ears; total, 635 cars. All freight equipment leased to Denver & inter.
Mountain RR. Co. Capacity of central generating plant, 19.200 k. w.
5 sub-stations, 2 of 1,500 k. w. each. 2 of 1,000 k. w. and 1 of 900 k. w.
OFFICERS.
-Chairman of Board, C. Boettcher; Pres., Ernest Stenger;
V.
-P., S. M. Perry; Sec., H. S. Robertson; Treas., H. J. Alexander; And..
Wm.A. Doty.
-V. 111, p. 1852; V. 112, p.61, 744, 1024, 1399, 1616, 1740,
1977; V 113, p. 730, 847, 1155: V. 114, P. 78, 1890; V. 115,
P. 1099.
(3) Denver & Inter-Mountain RR.
-Operating Company.
The Consolidated Securities & Invest. Co.owns all the stock and notes.
ORGANIZATION.
-Incorporated in Colorado
Inter-Mountain By.. but on April 2 1909 changedabout Oct. 29 1907 as
name
Private right of way. Franchises in Denver and Goldento present title
are perpetual
Has freight traffic agreements with Denver Tramway Co. and arrange
ments for interchange of transfers on Denver City lines; also contract
for
nee of Tramway Co.'s tracks in entering Denver.
Fare Increase.
-On June 22 1918 filed with the Col. P. U. Comm. a
new tariff providing for a fare increase from 2;4 cents to 3 cents
a mile
and an increase of 10% in commu,ation rates. In Nov. 1920 the minim
in
fare was raised from 7 cents to 8 cents. Freight rates were also increased
V. 111. p. 1852. City fares are the same as for Denver Tramway Co.
STOCK AND BONDS- Date.
Interest. Outstanding. Maturity
Stock, $1.000.000 ($100)
----.
-81.000.000
let mtge notes
8:7;
500.000
1938
The notes were issued in lieu ot $500,000 let M. Sc due 1938. which
were canceled and cremated Nov. 1 1917.
ROAD,&C.-Incl. In Denver Tram. Co.
-V.107. P. 82; V. 111.p.1852.

DERRY, PA.
WESTMORELAND COUNTY RAILWAY CO.
ORGANIZATION.
-Incorporated in Pennsylvania on Dec.
a consolidation of the Bradenville & Derry Street By. and the 27 1904. Is
Blairsville &
Derry Street Ry.
STOCK AND BONDS- Date.
Interest. Outstanding. Maturity.
Stock.$500,000($50)
$500,000
First mortgage. $250,000, gj 1905
5 g M-S
181,000 Mar 1 1938
cslint.at East End Say.& Tr. Co.. Pitts.. True
($100)
Bonds.
-No sinking fund and bonds are not subject to call.
EARNINGS.
-For years ending Dec. 31:
Cal.Yr. Gross.
Net.
0th. Inc.
Interest. Taxes. Misc.Ded.Surp
1921_ __$67.357 $25,661
$10,601
$14.295
$765
1920_-- 78.176
29.689
$10,863
$2,025
811.922
4.879
1919- 57.702
22,855
11.171
1,885
11,588
def1,790
ROAD.-Operatee 7 miles of track.
OFFICERS.-Pres.. John E. Potter; V.
-Ps., F. Wm: Rude!! and J.
McComb; Sec. & Treas., H. S. Calvert, all of Pittsburgh; Supt.. 8. A.
F
Schwerdt, Derry.
-V. 82. p. 50.

[vol.. 115.

)nly be issued for 80% of expend. for perm. eats., enlargements and
ander conservative restrictions. Bonds are red. on any int, dateaddna.
and int. Mtge. provides for an annual expenditure, beginning with at 105
of 20%, of gross earnings for malnt. repairs and renewals for 1919.
.
exts.
and &Was.for which no bonds may be issued, or for the purchase or retirement of outstanding bonds. V. 102, p. 975.
REPORT.
-For 8 months ended Aug. 31 1922, gross, $1,634,220;
after taxes, $488,320; int., depr., &c., $370,268; bal., sur., $118,052. net,
ROAD.
-Operates 94.87 miles of track. 35 to 129-1b. rails. 146
passenger, 31 service cars.
OFFICERS.-Pres., F. C. Chambers; Vice-Pros., M. H. MacLean and
W. H. McHenry; Sec., 0. H. Bernd;
F. M. Harris; Asst. Treas.,
E. B. Bieghler.-V. 112, p. 1024, 2536; V. 113, p. 182, 416, 532, 628, 847,
Treas.'
959, 1155, 1470, 1771, 1887, 2405; V. 114, p. 78, 1532, 1764; V. 115, p. 182.
DES MOINES & CENTRAL IOWA RR.
-An electric freight and
passenger railway.
ORGANIZATION.
-Incorporated in Iowa to construct a system of
interurban roads connecting with Des Moines. Was known as the Interurban Railway Co. up to Feb. 1922, when name was changed to present
title. V. 114, p. 738. The Des Moines City Ry.Co. guarantees the bonds,
principal and interest.
Financing Plan.
-In April 1921 the I.
-S. C. Comm. approved a loan to
the co. of 3633,500 at6% for 10 years to aid the co. in meeting the 31,267.000
1st Mtge. 5s due Apr. 1 1921. The holders of the 1st M. 5s were paid
$500 in cash (obtained from Govt. loan) and $500 in new 1st Mtge. 10-year
7%% bonds. $795.000 additional 10-year 74% 1st M. bonds are pledged
as security for the Govt. loan mentioned above. For further details see
V.112. p. 1617. Plan declared effective May 27 1921. See V. 112.p. 2537.
STOOK AND BONDS- Date. Interest. Outstanding.
Maturity.
Stock, $1,200.000 ($100)$1.160.000
1st Mtge bonds 32,500.000 1921
7% A-0
562.500 April 1 1931
Red at 1023. and interest__ Harris Trust & Say. Bank, Chicago, Trustee
Debentures, $350,000 ($1,000 1913
6 J-J
250,000 Jan. 1 1923
and $5001
ntf Int. at Harris Tr.& Say. Bk.. Chic., Trustee
Bonds.
-In addition to the $562.500 1st Mtge. 734s reported outstanding.
3795,000 are pledged as security for a Government loan (see text above)
and $71,000 additional are deposited as collateral for another loan; additional bonds to the amount of $100,000 may be issued for full cost of extensions, additions and betterments under certain restrictions, and remainder
may be issued for 75% of such cast. Are redeemable at 102% and int. on
any int. date. Compare V. 112, p. 1617, 2531. Debentures are redeemable on any int. date at 101 and int.
EARNINGS.
-For 8 months ended Aug. 311922, gross, $387,958; net,
after taxes, $54,245; int. & deprec., $101,090; balance, deficit, $16,845.
ROAD.
-Operates 100.53 miles of track (incl. sidings), connecting Des
Moines and Colfax, Des Moines and Perry, with branch to Woodward.
Standard gauge: 60 and 70
-lb. T rail. 12 pass, motor cars, 1 passenger
coaches, 8 locomotives and 213 misc. freight and work cars.
OFFICERS.-Pres., F. C. Chambers; V.-Prei., M. H. MacLean and
W. H. McHenry; Sec.O. H.Bernd; Treas., Frank M. Harris; Asst. Treas.,
E. B. Beighler; Gen. Mgr., C. M. Cheney.
-V. 114, p. 738.

DETROIT, MICH.

DETROIT UNITED RAILWAY.
-Trolley.
Municipal Purchase -On March 11 1922
the contract entered into by the directors for thethe stockholders ratified
sale of
to the city of Detroit for $19,850,000. A special electionthe co.'s city lines
was
1922 and the people voted in favor of the proposed agreementheld April 17
and the appropriation 0(
34
for the first payment on the contract for the purchase of materials, and other expenses incidental to the taking
lines by the city. V. 114, p. 1764. For full details and over of the
summary of
agreement between city and co., see V. 114, p. 1178. Compared
V. 114
p. 854. 947.
On May 15 1922 the transfer of the D.U. By.city lines to the
City of Detroit was effected. The co. will operate the
limits, the lines taken over and those already short lines outside the city
constructed
DES MOINES, IOWA.
be operated by the Dept. of Street Rye. Preliminary to by the city will
the transfer of
the lines to the city, the city paid $3,177,000 to the
co. Of this
DES MOINES CITY RAILWAY CO.
-A trolley road.
$2,770,000 was to take care of the first payment on the purchase amount
contract
of $19,850,000. V. 114, p. 2240.
Receivers Discharged.
-On April 1 1922 the property, which had been
In Oct. 1921 a board of arbitration fixed $2.297.700
operated since Dec. 1918 by receivers appointed by the U. S. Dist. Court,
as the price the city
would have to pay the co. for 2934 miles of line,
was turned back to the company. V. 114, p. 1532.
including equipment.
Service Resumed, New Franchise, etc.
-Following the seizure of certain V. 113. p. 1674. These lines were formally taken over by the city on
Dec.
power house equipment in satsifaction for claims against it, and after the co. 22 1921.
had demonstrated its inability to operate under a 5
-cent fare without jitney
Dual Operation.
-On Dec. 15
joint
competition and under an 8
-cent fare with unrestricted jitney competition, co.'s lines and certain of the city's 1921 was operation over certain of the
inaugurated. Cars are operated
Federal Judge Wade ordered the co. to discontinue operations on Aug. 3 by the city and the co. over each lines
other's lines and transfers are exchanged,
1921. For further particulars see "Elec. Ry." Supp. of Oct. 30 1921. see V. 113. p. 2504, 2719.
Service was resumed on Oct. 24 1921 with the passage of a new service-at
ORGANIZATION.
cost franchise ordinance by the City Council. V. 113, p. 1887. At a special over franchises ad -Incorporated in Michigan Dec. 31 1900 and took
election held Nov. 28 1921 the voters approved the new franchise by a vote troit Electric By.. t properties of the Detroit Citizens' Street Ry. the De.
I Detroit Ft. Wayne & Belle Isle and the Detroit
franchise provides among other urban, V. 72. p. 4 .183.
over two to one. V. 113, p. 2405.
he
of
SubEmbraces all the street railway lines in Detroit.
things, for the purchase by the city at any time on 6 mos. notice, paving
Later absorbed by purchase the Detroit & Northwestern By.,
between tracks, &c., to be done at expense of city, profits are to be figured
which is
known as the Orchard Lake division. the Detroit & Pontiac
on a capitalization basis of approx. $8,000,000, basic fare of 8 cents in the
Ry.,
sliding schedule effective immediately, no div. on corn. until cash fare is as the Pontiac division. the Wyandotte & Detroit River By., known known
as the
reduced to 7 cents, jitneys restricted from streets used by the co., &c. For Wyandotte division, and the Detroit & Flint. formerly the Detroit Rochester Romeo & Lake Orion Ry., and known as the Flint division.
full details see V. 113, p. 1771, 1887, 2405: V. 114, p. 1764.
Owns entire capital stock of the Detroit & Port Huron Shore
Franchise Held Invalid.
-In July 1922 Judge James C. Hume of the Polk Railway
System): Detroit Monroe & Toledo Short Line By. Line (Rapid
County Dist. Court handed down a decision holding invalid the above Feb. 1906) and
(acquired in
the Detroit Jackson & Chicago By. The last-named
service-at-cost franchise. The co. will appeal to the State Supreme Court
is a reorganization of the Detroit Ypsilanti Ann Arbor & Jackson
V. 115, p. 182.
By., the Jack
son Ann Arbor & Detroit By. and the Detroit Plymouth &
-See V. 114.,p. 78.
Bus Ordinance Passed.
which were acquired in Jan. 1907. Also owns the entire Northville Ry,.
capital stock of
In March 1911 N. W. Harris of Chicago acquired practiCally all the the Detroit Almont & Northern RR., which it leases for
50 years from 1915.
stock not previously owned by him of the Dee Moines City Ry Co. and and guarantees and assumes its bonds as a direct
of its allied corporation, the Inter-Urban By. Co. V. 92, p. 794. See
In Aug. 1901 purchased 180 shares (all) of the obligation, by endorsem't.
stock
also V. 113. p. 847.
Ry. and the People's Electric Light plant of Windsor. of the City Electrie
On.
Proposed Municipal Subway-Report of Street Ry. Comm.
ORGANIZATION.
-A consolidation in 1893 of the Des Moines St. RR.
Co. and the Des Moines Suburban Ry. Co. Is authorized to carry freight. IL 1986. Compare V. 109, p. 1366. An election was held-See V. 109,
in April 1920
at which the people voted in
-A new 25
-year franchise was granted at an election on Nov. 000 bonds, proceeds to be favor of a proposal that the city issue $15.000.
Franchise.
used to construct about 200 miles of
-cost, &c. For full details see V. 114, street railway lines.
28 1921, providing for service-at
municipal
V. 110, p. 1526. Compare V.
p. 1764.
suits filed in the U. S. District Court asking that 110, p. 464, 764. Two
-On May 15 1918 stockholders voted to increase void and invalid were dismissed in June 1920. this ordinance be declared
New Preferred Stock.
V. 110. p. 2657; V. 111
the auth. capital stock from $3,000.000 common and 3250.000 6% p.294. 1660. Compare V. 110, p. 1748. The co. appealed
but
son-cum. pref. stock to $3,000,000 common and $1,500,000 7% cum. pref. 1920 the U. S. Supreme Court refused to permit an injunction on Nov. 15
prohibiting
stock. The new pref. stock carries the same voting powers as the common the city from continuing the preparations looking toward
the
stock and is cum.from May 1 1918 and callable, ail or in part, on any div. municipally-owned street railway facilities. V. 111. p. 2041.acquisition of
On Feb. 28
1921 the U S Supreme Court held that the city has the
and dive. V. 106, p. 2010.
date at 10734
right to acquire
and operate railway lines
V 112. p 932
Valuation.
-See V. 111, p. 2140.
Bus Service to Supplement Interurban Lines Proposed.
-The int. due July 1 1921 on the 34.821,000 gen. &
Interest Defaulted.
-See V 115, p. 759.
Valuation.
-See V. 115, p. 1837.
ref. mtge. 5s having been defaulted the following committee was formed
and called for deposits, but in accordance with arrangements (see above
STOCK AND BONDS- Date.
Interest. Outstanding. Maturity.
under "New Franchise") the defaulted int. (July 1 1921 and Jan. 1 1922) Stock
315.375.000 4100)- Q
-M
was paid. July 1 1922 interest was paid when due.
$15,375,000
See
let consol mtge. $25.000,000,f 1902
4;4 g J-J 14.55.1,000 Jan. 1 text
-Chairman, D. Mark Cummings;
Committee for Gen. ct Ref. ftge. 5s.
gold 41.000)
Ociat Guaranty Trust Co., N. Y Trustee. 1932
Int.
Stanley Field, C. W. Bead, W. E. McGregor and Chester Corey, Sec.,
at Agency Bank of Montreal
115 W. Monroe St., Chicago, Ill. Depositary: Harris Trust & Savings Coll trust notes 84,500.0001 1918
7 g A-0 1 1,000,000 April 1 1923
Bank. Chicago, 111. V. 113. p. 182. 628, 847.
c*.tt Central Tr, Co..N.Y..trustee Int. in
N.Y.
")
let Mtge coil bonds$5,000,-1 1921
8 g F-A
3.492.000
Interest. Outstanding. Maturity
STOCK AND BONDS- Date.
See text
000 (31.000)
c*tflInt. at Cent. Un.Trust Co. of N.
Common,33.000.000 ($100)-- ---$1.055.000
Stock listed on the N. Y., Montreal Detroit and Cleve. Stock Y., Trustee
Pref..7% cum.,$1.500.000
Exchanges.
1,350.000
---....-Bonds.
-Of the 825.000.0f/0 first consolidated mortgage bonds
Des Moines City Ry (ion &( 1916
4.821,000 Jan- 1 is36
5 J-J
authorized
. Ref M. $15,000,000. gold
Harris Tr. & Save. Bk. Chicago, Trustee. 17,015.000 are reserved to retire underlying liens and 83,390.000 are held
in treasury. Callable at 105 and int. on any int, date on 60 days'
MOO and $1,000)____c•__
Interest at New York and Chicago.
notice.
See V 73. p. 1111: V. 103, p. 320. Listed on N.
Bonds.
-An additional $836,000 bonds may be issued for the full amount the 84,000,000 1st Mtge. 8% call. bonds $508,000 Y. Stock Exchange. Of
were retired Aug. 1 1922
expended for construction, reconstruction and rehabilitation, or for perman- and the remainder mature Aug. 11941;
310,000 are held in treasury. Are
ent extensions, enlargements and add'ns; remaining 39,343.000 bonds may secured by
Pledge of $4,155,000 underlying bonds, for description
of




OCT., 1922.]

ELECTRIC RAILWAYS

43

(2) Detroit Monroe & Toledo Short Line Ry.
the remaining $1,000.000 bonds authorized,
which see V. 113, p. 532. Of the pledge of $600,000 Detroit & Pontiac
-Incorporated in Michigan on Dec. 11 1902.
ORGANIZATION.
$500.000 are issuable against
when extended under closed
In Feb. 1906 entire stock was acquired by Det. Unit. By. V.82,P. 392.
June 1 1926,
consolidated mortgage bonds due per annum of the 20
-year bonds issued
Interest. Outstanding. Maturity.
fund of 5%
STOCK AND BONDS- Date.
mortgages. A sinking that maturity up to 1073.1 and int.. and a sinking
$2.581,000
will purchase bonds of the 1-year bowls issued will purchase 1-year bonds Stock. $3,000,00083.000.000.1 1903
3.000,000 Jan 1 1933
5g
let mortgage.
month of
fund of 1% per
callable as a whole at 1073.1 and int. on 30 days'
c*f Union Trust Co., Detroit. Trustee.
gold (81.000)
up to 100 and int. Are-mill tax refunded. V. 113. p. 532.
Bonds.
-Interest Is payable in New York. No sinking fund and bonds
val. of stocks
notice. Pennsylvania 4
by a deposit of 39,000.000 par
ce not subject to call.
The coll. tr. notes are secured No additional Detroit United By. 44%
cos.
-Operates 5() miles of road from Toledo to Detroit and 4 miles of
ROAD.
and bonds of constituent
issued except for refunding purposes, nor can the
M. bonds can bewhose shares are pledged under these notes, increase •oad from Monroe to Lake Erie; completed Nov. 5 1904. At Toledo concons.
Is of
constituent companies, any of these notes remain outstanding. Notes are nection is made with the Lake Shore Electric By. for Cleveland
way; standard gauge. laid WIth
their bonded debt while
than $500.000 on 30 days' notice at •teare road construction, on private right of V. 107. p. 82; V. 108. P. 480.
84.1621 miles.
a whole or in amounts of not less 100 t.S and int
v 106 p 1126
70-lb. T rails. Total track,
red. as
thereafter at
101 and int to April 1 1922:
2011; V. 115, P. 645, 1099.
$3,400,000 have been retired. V. 114, p.
tli) Detroit Jackson & Chicago Re.
Electric.
Detroit
•,
-A holding co. organized in Mich. In 1907 by Detroit
ORGANIZATION.
Interest. Outstanding. Maturity
Date.
1922-1924 United interests to take over the Det. Y psi!. Ann Arbor & Jack. By., the
$1,300.000
5
1
Detroit By 1st M.g (81,000)1 895st at g J-D
lack. Ann Arbor & Det. By. and the Det. Plym. & Northville By., aying
Tr. Co., Trustee.
Cleveland
c*&rlIntere
1137.
Pn 56.34 miles
numbered 1 to 600 ma- terefor $1 230.000. Entire stock owned by Detroit United
-First mortgage bonds of the Detroit Ry.beginning Dec. 1 1912:
Bonds.
-On Mar. 21 1919 Judge Roemer in the Circuit Court at Detroit
Fares.
per annum,
ture in order of numbers at $50,000 1 1924; $500.000 have been retired. srdered fares on the co.'s lines between Detroit and Jackson reduced to the
numbers 601 and above mature Dec.
pre-war basis of about 14 cents per mile. V. 108. p. 1274. The $60.000
Detroit Fort Wayne & Belle isle.
Ypsilanti & Saline 1st M. 6s which matured July 1 1919 were retired on
31,200.000 April 1 1927
5s being issued in connection
5 g A-0
1898
1st mtge. gold. 31.200.0001 New York Trust Co.. Trustee. Subject to that date. $60.000 of the co.'s 1st consol. mtge.
c*&r1
therewith.
$1.(00)
I call at 105 and int. on 60 days' notice.
Interest. Outstanding. Maturity,
STOCK AND BONDS- Date.
Agents, Bank of Montreal, New York.
3614.000
Stock ($100)
Detroit & Northwestern Ry,
2,060.000 Feb 1193?
5 g F-A
Maturity. First consol mtge. $4.000.000 1907
Interest. Outstanding
Date.
co' Int. at Security Trust Co , Detroit. Trustee,
($1.000), gold
Jan.
$1,000,000, gold f 1901 7% g M-N $855.000 Detroit, 1 1932 1st cons M Det Y A Ar&Jack 1901
1.610.000 Feb 11028
5 g F-A
1st mtge,
Trust.
c*lInterest at Union Trust Co.,
($100. $1,000)
$2.600,000($500.$1.000)gc* Int. at Detroit Trust Co.. Detroit, Trustee,
endorsement.
-Are guar., p. & I. by Detroit United By. by1921) but are Det Yps & Ann Ar cons 1st MI 1899
Bonds.
330.000 Feb 1 1924
6 g F-A
Were taken up at maturity (May 1
See V. 73, p. 494.
$1.000.000, g ($500 & $l,-Int. at Union Trust Co., Detroit, Trustee.
Detroit United
pledged as extended bonds with lien unimpaired under the
fund annually
000) sinking
Ry. 1st mtge. coll. 8% bonds. See V. 113, p. 532.
The Det. Yps. & Ann Arbor & Jackson first consols cannot be called.
Detroit & Pontiac Ry.
Of the amount reported outstanding, 346,500 were in the Detroit United
June 1 1926 Treasury on Dec. 311921.
44 g J-D
let con mtge. gold (S1.000).1 1901 Washington Tr.600.000 Y.. Trustee
Co . N.
c*&r)int. at
81.100.000
-Bonds of Det. Jack. & Chic, are subject to call on any interest
Bonds.
-$500.000 consolidated mtge. 44% bonds were reserved to retire day at 105 and int. Guar., p. & 1., by the Detroit United Rys.; enough
Bonds.
Feb. 1
like amount of 1st mtge. bonds: the latter were paid off at maturity after bonds are reserved to retire bonded debt of the Pet. Yes. Ann Arbor & Jack.
are subject to call at 105 and interest on 60 days' notice
i:22. Bonds
by Detroit By. V. 85, P. 345. Of the amount reported outstanding. 31.174.000 weir*.
tune 1 1911. Principal and interest of both issues guaranteed
en Dec. 31 1921 in the Detroit United treasury.
United by endorsement.
-Completed and in operation from Detroit (through Wayne and
ROAD.
Detroit & Flint Railway.
Ypsilanti) to Ann Arbor and to Jackson; making mileage 100 miles. of which
The Detroit & Flint By. was organized to acquire the Detroit Rochester 40 miles over 'private right of way. Total track. 111.2891 miles. Rails
By. and the Det.
Romeo & Lake Orion, together with the Nor. Det. Elec. last two proplies. 70 and 75
-V. 108. P. 1274.
-lb. T girder. Does a freight business.
Utica & Romeo By. The consol. M.Is a let lien on these
Date. Interest. Outstanding. Maturity.
$1,400,000 Jan. 11032
(4) Detroit Almont & Northern RR.
b g F-A
& Flint 1st consol M, 1901
Detroit
N.Y., Trustee.
-Organized under the General Railroad Laws of
00
ORGANIZATION.
6, $3,0,000 ($1.000)_ _c* Int. at Tr. Co. of America,
$1.100,000 See text.
7 g J-D
DRR&LO Ry 1st mtge.( 1901
Michigan. Is leased for 50 years from 1915 to the Detroit United By.,
Int. at Cont. & Comm. Tr & Say. Bank, which owns its entire capital stock.
sinking fund, gold ($1,000),
Chicago. Trustee;also Guaranty rrust Co.
$1.500,000; unissued bonds
Interest. Outstanding. Maturity
Date.
BONDSes I New York.
have been canceled
3400.000 Feb 1 1940
& Flint consol. mtge. 5s and the D. R. R. & First mtge. gold. $2.500.000f 1915 6 g F-A
-Both the Detroit
Bonds.
tflInt. at Union Tr. Co.. Detroit, True.,& N.Y
($1.000 & $500)
L. 0. Ry. 1st mtge. 5s are guaranteed by the Detroit United Rv.; see form
guaranty in V. 76, p. 1300; as "additional collateral security" on the
as a direct obligation, by endorsement
of
The bonds are guar. and assumed
Flint bonds 1st consol. 44% bonds of the Detroit United are deposited, by the Detroit United By.. which, In the event of any new issue of refund$ for 3, with the Guaranty Trust Co. of N. Y.. and would be available in Ing or general mortgage bonds being placed on the Det. Un. Ry. or its subdefault on the Detroit Sr Flint bonds. The D. & F. cons. es sidiaries, will reserve sufficient new bonds for the retirement of the above
the event of
fell due
matured Aug. 11921. while the D. R. R. & L. 0. By. 1st M. Sc pledged Issue at maturity. Red. on and after Feb. 1 1925 at 103 and int. ReJune 11920. Both these issues were taken up at maturity, but are Ry. 1st maining bonds to bear rate of interest as fixed by the directors when issued
liens unimpaired under the Detroit United
as extended bonds with
but not to exceed 6%•
M. coll. 8% bonds. See V. 113. p. 632.
-Extends from Romeo, through Almont to Imlay City. about
ROAD.
-Annual report for 1921 was in V. 114. P. 848:
REPORT.
-V. 101. p. 130.
-lb. rails.
20 miles; built on private right of way: 70
Detroit United Ry.. Rapid Ry. Sys.. *Sandw.Wind. & Amherstb. Ry.
Det. Monroe & Tot. Sh. Line RY. and Det. Jack. & Chic.
1918
1919
1920
1921.
DIXON, ILL.
Revenue passengers___ _336,579,071 425,582.985 394,374.451 319.843.176
Transfer passengers____103.760.082 128,152.532 122.422,145 103.608.353
ILLINOIS NORTHERN UTILITIES CO.
$23,329,068 *28,986.228 $24,683.038 $19.014,018
earnings
Gross
19.428,779 25.025.165 19,792,528 14,758,339
Controlled by the Middle West Utilities Co.. which see in our -Railway
Operating expenses
Net earns from oper_ $3,900,289 $3,961.063 $4,890,510 $4,255.679 & Industrial Section.'
419.735
546,406
676.118
716.2,24
Inc. from other sources_
TION.
-Organized under the laws of Illinois July 31 1916
Income from all sources.. $4,616.513 84,637 181 $5,136.916 84.705 414 asORGANIZA n of the Illinois Northern Utilities Co. (incorp. In April
a consolidatio
$3,351,068 $3,003.606 82.868,250 $2,610,830
Interest and taxes
(8)1,200,000(8)1,200,000(8)1,200,000 1912), Tr -County Light & Power Co. (V 97. p. 669), and the Freeport
Dividends
600,000 Railway & Light Co. (see this Section for May 1916). V. 103. p. 496.
600.000
200.000
Depreciation charged offx(2)300.000
150,000 Operates gas and electric properties in the western half of the northern
200,000
150.000
150,000
Reserve for taxes
part of Illinois adjoining the territory served by the Public Service Corp.
150.000
50.000
250.000
for contingencies
Reserve
of Northern Illinois. Also operates street railways in Sterling and Dixon and
84,051,068 11.603,606 $5,018,250 $4.560,830 an interurban line between the two cities, total let track 18 51 miles. and
Total deductions
$144,584 9 miles of track in Freeport. Franchises in Freeport expire March 1 1923.
$418,666
$33.575
$565,445
Surplus income
for 50 years with the Rockford & Interurban By,
Has
'In operation up to March 31 1920
was paid (but see under Co..traffic arrangement company to enter Freeport.
allowing cars of that
x 2% paid in cash. In addition 24% in stocks
:Dividends" below.
STOCK AND BONDS- Date. Interest. Outstanding, Maturity.
-First dividend of 1% on Detroit United stock was paid
DIVIDENDS.
k34,635.000
until Aug. 1905, when rate Common
March 1 1901 and 1% quarterly thereafter1905 1t(%. 1 In 1906 5%. In First prefstoc ----3.024.800 Nov '22,134
Q-F
stock 6% cum
raised to 13(% quarterly. On Nov. 1
was
250.000
14%. None to Mar. 1911. when Second preferred stock1907. Feb., 1}4%: May, 111%; Aug.* and incl. Dec. 1912. In March First and ref M gold
tf 1912 5 g A-0
5.214.000 Apr 1 1957
1 % was paid; same amount guar. to
and
Underlying Bonds
and incl. March 1916. 14% quer. In June 1916 to June Incl
1913 to
1921 De Kalb County Gas
199.500
5%
Incl. Mar. 1921,2%. In
Mar. 1917, 14%. In June 1917 to and
249.500
5%
V. 112, p. 1865. The co. also declared Sterling Gas & Electric -- _ __
was
a stock div. of 24%each, paid.
40.0')o
payable Sept. and Dec. 1 1921. but the P. U
Tri Co Lt & Pr Ist & ref mtge_
stock diva. of 214%
the stock and in Oct.
140,000 Nov 1 1935
5 M-N
Comm. refused to grant the co authority to issue not been distributed. Freep Ry & Lt mtge $2.0004 1910 Cont.& Comm.Tr & Si B.. Oh„trus.
000g ($100.$500 & $1.000)1Int. at
directors rescinded these dive. The diva. had A cash dividend of
1922 the
Compare V. 113, p. 1155, 1359, 1887, 2079, 2405.p. 1730.
-In addition to amount reported outstanding. 8365.000 common
Stock.
1 1922. V. 115,
held in treasury.
134% was declared payable Dec.
miles of track, as follows:
-On Oct. 1 1922 operated 595.878
ROAD.
-The let & ref. M. bonds of 1912 are red. at 105. Additional
Bonds.
Detroit River Ty., Detroit &
Detroit United, including Wyandotte & & Flint, 228.452 miles; Detroit amounts may be issued (a) $629,000 to refund underlying bonds. (b) In
Northwestern, Detroit & Pontiac, DetroitDetroit Monroe & Toledo Short exchange, par for par, for mortgage debt existing at time of acquisition of
miles;
& Port Huron Shore Line, 143.429 & Chicago Ry, 111.637 miles; Detroit Properties acquired in the future: (c) for expenditures made in acquiring
cost thereof. V. 94. p. 1383: V. 95.
Line, 84.077 miles; Detroit Jackson
Park & Royal Oak RR., future property to extent of 75% of
o. 1123
Almont & Northern RR., 19.870 miles; Highland
-lb. steel. Does an express service.
-On pref., 134% nuar. paid Nov. 1912 to and incl. Nov.1922.
miles. Rails, 77, 85 and 98
Dividends.
8.413
and express cars, 235 construction cars,
Has 662 passenger cars, 127 freight 4 locomotives, 2,235 motors and 1,858
EARNTNGS.-Of Illinois Northern Utilities Co. and Sterling, Dixon &
30 line cars, 4 miscellaneous cars, with a combined capacity of 13,300 k.w., Eastern Electric By. for 12 mos. ending Dec. 31:
There are 3 power houses,
trucks.
Net, after Interest, Preferred
Balance.
Taxes. Rents. etc. Dividends.
Gross.
and 12 sub-stations.
Cal. Years-Chairman of the Board, J. C. Hutchins. Detroit; Acting 1921
81.987.321 3655,426 3383.803 3150.360 sur.S121.253
OFFICERS.
Mgr., E. J. Burdick; Sec., A. E. 1920
130.700 sun. 62.202
-P. & Gen.
375,067
567,970
1,875,895
Pres., E. G. Stevenson, V. Gingras; Aud., R. G. Skeman. General ofPeters, Detroit; Treas., A. A.
-P., E. D. Alexander: Sec. &
OFFICERS.-Pres., Samuel Insuil; V.
-V. 113, p. 628. 959, 1052,
Mich.
J. A. O'Connell: Aud.,
fices, Traction Bldg., Highland Park,
2311, 2405, 2504, 1719, 2818; V. 114, Treas., John H. Gulick; Asst. Sec. & Asst. Treas., V. 114, p. 2011.
1155, 1359, 1470, 1674, 1887, 2079, 2011, 2240, 2579; V. 115, p. 182, 645, L. E. Jacobson.
-V. 106, p. 1036, 1132, 1582, 2757;
1178, 1532,
p. 78, 626, 848, 854, 04'7,
769, 1099, 1730, 1837.
Line Ry.-A trolley road.
(1) Detroit & Port Huron Shorenow owned by the Detroit United Re.
stock is
DOYLESTOWN, PA.
' Entire outstanding capital
-4 trolley road.
-Incorporated in May 1900. Is a consolidation of
PHILADELPHIA & EASTON TRANSIT CO.
ORGANIZATION.
Mt. Clemens & Marine City Ry.(the
Detroit
ORGANIZATION.-Incorp. July 30 1921 in Penna. as successor by
the Rapid Railway Co. the the Mt. Clemens & Lakeside Traction Co. and
of the properties of
to Philadelphia & Easton Electric
p. 80)
purchaser
By.), the Port Huron St. Clair & Marine City reorganization (see plan in V. 114,
Use Detroit & River St. ClairClinton River Plank Road Co. and the City By.. for history of which see "Electric Railway" Supplement of Oct. 22 1921.
&
of 1st Mtge. 5% bonds
By.. the Connors Creek
company owns the capital stock of Under the plan outlined in V. 114. p. 80, the holders
Port Huron. The new operates all the tracks in Mt. Clem- in the old co. received 40% in new 1st Mtge. 5% bonds, 30% in Pref. and
Electric By. of
company
The
each road. The consolidated through route from Detroit to Port Huron 30% in Corn. stock of the new co. in exchange for same. the Cons. and
and the
terms of the
ens and Port Huron,Clemens, New Baltimore, Algonac, Marine City and Pref. stocks of the predecessor co. were without value under
running through Mt. the capital stock ($25,000) of the Detroit & Lake reorganization, no consideration being given them.
Clair. Also owns
The protective committee for the Phila. & Easton Elec. By. 1st Mtge.
St.
,
5s consisted of William Pearson, Chairman. Harrisburg, Pa.; L. B. Hillard,
St. Clair Rs.
Interest. Outstanding. Maturity
Wilkes-Barre, Pa.; A. 0. Patterson, Philadelphia, Pa.; Henry G. Rush,
STOCK AND BONDS- Date,
$2,000.000
Lancaster, Pa. Depositary: Northern Trust & Savings Co„ Lancaster. Pa .
Stock. $2,500.000A100)----- 1900
2.500.000 Jan 1 1950
5 g J-J
$2,500,000 (31.000)1
STOCK AND BONDS- Date. Interest. Outstanding. Maturity.
let mtge.
Union Trust Co.. Detroit, Trustee.
3273.300
Common. $300,000 ($50)_
cnot be called,gold_c**r Int at American Exch. Nat. Bank, N. Y
an
273.300
Prete%non-cum $300,000($50) - miles.
5 A-0
364,400 Oct 1 1940
Det. & Port Huron System. 138.2268
p. 1st Mtge $500,000 ($100, $50011921
-Total
ROAD.
United Ry.-V,77,
tf.c*fInt. at Northern Tr. & Say. Co., Trustee.
-Now included in report of Detroit
EARNINGS.
and $1,000)
34; V. 84, p. 338.




44

ELECTRIC RAILWAYS

{vol.. 115.

Stock.
-The pref. stock is non-cum., without voting power,
subject to
redemption at any time. The common stock has exclusive
voting power.
The plan recommended that the common stock be
placed in a voting trust
for five years.
Bonds.-Addittonal bonds may only be issued for
payable free of Penna. State tax. V. 114, P. 80. exts., impts., &c. Int.
EARNINGS -Of predecessor co., for year ending Doc.
31 1920, gross,
$177,008; net, $54,631. In 1919, gross, $150,433:
Operates 35 miles of road between Doylestownnet. $37.745.
and Easton; "T" rail;
gauge. 5 ft. 2S4 in.; 8 cars.
OFFICERS.
-Pros. & Gen. Mgr., A. H. Sickler; -P., John C.
Swartley;
Sec.. W. S. Chambers; Treas., Godrey SchmidheiV.
ser.-V. 114, p. 80.

On corn., first div.-1%-Oct. 1909. Same amount
July 1910; in Oct. 1910, 1 Ys %. Same amount quar. to guar. to and incl.
In July 1913 reduced to 1% (V. 96, p. 1772); same and incl. April 1913.
amount guar. to and
incl. Jan. 1915, April div. omitted (V. 100, p.
900);
semi-annual basis and a div. of 1% paid July 1915 (V. payments changed to
100,
to Oct. 11917, when 1% was paid. Same rate quarterly p. 1437). None
to and incl. Oct. 1
1918. None since.
REPORT.
-For calendar years:
Calendar Gross
Net(after Int. &
Common
Balance,
Years. Earnings. oper exp.) Taxes. Pref.Divs. Dividends.
(4%).
Sur. or Def.
1921__ _$1,804.840 8311.535 $282,948 $15,000
sur$13.587
1920--- 1,945.887 359,987 286,139 60.000
stir 13,848
In 1921 carried 34.596,264 revenue passengers
passengers, against 38,137,565 revenue passengers and 5,809.271 transfer
and 6,277,916 transfer
passengers in 1920.
DU BOIS, PA.
ROAD.
-The system embraces about 05.57 miles
DU BOIS ELECTRIC & TRACTION CO.
-In Nov. 1916 control was all the lines in Duluth and Superior. 152 passenger of track and Includes
and 20 other cars.
acquired by the Keystone Utilities Co., which see under
Scranton. Pa.
OFFICERS.
-Chairman of the Board, A. E. Ames; Pres.,
ORGANIZATION.-Incorp in New Jersey on
-P., Edmund Zacher; -P. & Gen. Mgr., Herbert A. M. Robertican Town Light Co. and name changed later asNov. 18 1901 as the Amer- son; V.
Warren* Sec. &
above. Owns all of the Trans., S. L. Reichert; Aud., V.
stock of the Du Bois Elec. Co. and the l)u Bois Trac.
W. P. Dwyer.
-V. 112, p. 932; V. 113, p. 70
Co. V. 76, p. 972 V. 114, p. 854; V. 115, p. 435, 543,
Franchises for both street railway and electric-lighting
759, 1210.
are perpetual and
exclusive.
STOCK AND BONDS- Date.
Interest. Outstanding. Maturity.
Stock, $300.000 ($100)
$292.500
Coltat trust mtge. $300.0001 1902
5 g NI-N
280.500 May
($500), gold
csotfl Int. at Columbia Trust Co., N. Y., 1 1932
Bonds.
-No sinking fund, but subject to call at any time at 105 Trustee.
and int.
EARNINGS.
-Combined earnings for years ending Dec. 31;
Cal. YearsGross.
Exp. & Taxes. Net.
Interest.
Balance.
1921
$237.234
$177,816
$59,418
$14,025
$45.393
1920.
$244.339
$203.730
$10,609
$14,025
$26.584
OFFICERS.-Pres., E. M. II trringten; V.
-P., E. T. Hartigan; Sec. &
Treas., John Marsman.-V. 89. p. 1667; V. 103. p. 2340.

DUBUQUE, IOWA.
DUBUQUE ELECTRIC CO.
ORGANIZATION.
-Organized in Delaware June
the Union Electric Co.,of Dubuque.(see "Elec.Ry." 3 1916 and acquired
Section
Does the entire electric lighting, power and street railway for May 1916).
business in Dubuque and vicinity. Owns East Dubuque Elec. Co.,
Ill. Also sells power to the Eastern Iowa Light serving East Dubuque
communities within easy transmission distance of & Power Co., serving 8
Dubuque
Fares & Wages.
-As a result of a strike for higher
fares wore increased in May 1920 to 8 cents cash, with wages the company's
The old rates were 7 cents cash or four tickets for 25 7 tickets for 50 cents.
cents. V. 110. p. 2291.
Following a reduction in May 1921 of wages from 60
cents to 45 cents per
hour the co. reduced fares from 7 tickets for 50
Cash fares, however, remain at 8 cents. V. cents to 8 tickets for 50 cents.
112, p. 2305.
STOCK AND BONDS- Date.
Interest. Outstanding. Maturity
Corn stock $2.000,000 ($100)$682.000
Pref6% cum $2.000.000($100)
Q-M
800.900
See text
1st M $6,000.000($500 & $1.-1 1916
5 J-D
2,445.001) June 1 1925
000) red at 101 Ss int on( Int at Chicago or
New V •rk. Central
60 days' notice
cpt I Trust Co., of Illinois. Trustee
3-yr. secured notes. gold
1920 8% M-S
111.000 Sept 11923.
Stock.-Pref.stock is callable at 110 and divs.and has
equal voting power
with common. V. 103, P. 410.
Bonds.-Secured by an absolute first and only
mortgage on all the
properties, rights and franchises
Add'i bonds may be issued for only co's
80%
of cost of permanent arld'ns and insists. and then only
when net earns, for
preceding 12 months have been at least 1 SS times
the int, on bonds outstanding and those to be issued. Sinking fund from
gross earns.. either to purchase bonds or call them June 1 1917. 10% of
impts.. &c. V. 103. p. 410. The notes are secured at 101 and int.,or for
by 1st Mtge. bonds.
Dividends on pref. stock have been paid regularly
Earns. Years Ending-Dc. 31 '21. Dec. 31 '20. from date of organizat'n.
July 31 '21. July 31 '20.
Gross
$997,075
$874,977
$986.705
$804,322
Net. after taxes
301.831
912.210
260.084
210.7S9
PROPERTY -Power station with 9,500 Is.
w. generating capacity:
about 220 miles of transmission and distributing lines;
20.7 miles of track
In city and suburbs, substantially all 70-113. rail; 90 cars.
OFFICERS.-Pres.. 1.0.Elston. Jr., Chicago: V.-Ps.,
H.B. Maynard.
Dubuque, Ia., and C. L. Ayling, Boston. Mass.; Gen.
-V.110, p. 1526, 2291; V. 112, p. 2305: V. 113. p. Mgr.,0. H. Simonds.
1674; V.114. P. 1062.

EAST LIVERPOOL, OHIO.
STEUBENVILLE EAST LIVERPOOL & BEAVER
VALLEY TRACTION CO.
ORGAIZATION.-Incorp. In Ohio and Penna. on
N
Nov. 1 1917 as a
merger of the East Liverpool Trac. & Lt. Co., the
Steubenville & East
Liverpool Ry. & Lt. Co. and the Ohio River Passenger
Ry. For history
of merged companies see this Section for January
1918.
Fare Increase.
-In Jan 1919 the I.-S. C. Comm. auth. a single-trip
fare
of 10 cents and a commutation fare of 14 rides
$1 between
pool, 0., and Chester. W. Va., and dismissed forcomplaint East Livera
against these
r ,ter. V. 108. p. 481. In skull 1922 Ora Feder
1 1)1 t. C eisr handed
down a decision auth. the co. to return to the 5
-cent fare on local lines instead of the three-fare zone system. V. 114, p. 1892.
STOCK AND BONDS- Date. Interest.
Outstanding. Maturity.
Common,$2 000.000 ($100)$2.000.000
Pref5% cum $2,600,000($100)
2,600.000
First mtge $3.000,000. gold' 1917
5 g M-N
1.600.000 Nov 1 1947
(31.000)
cl Int. at Cornm'l Trust Co., Phila., Trustee.
Bonds.
-Redeemable at 105 and int. after
the bonds reported outstanding are held In the Nov. 1 1922. 3117.000 of
treasury.
EARNINGS.
-For year ending Dec. 311921. gross,
taxes, def., $17.378. In 1920, gross. 3919,171; net, $928.575; net, after
In 1919, gross. $840,600; net, after taxes, 372,636. after taxes, $15.902.
ROAD.
-Owns and operates 100.69 miles of track between Vanport. Pa..
and Steubenville, 0., and in Steubenville, East Liverpool and
Weilsville.
0., and Chester, W. Va. Also operates in intervening towns, and operates
a through line between Steubenville and Beaver, Pa. 80 cars.
OFFICERS.-Pres., C. A. Smith, Chester. W. Va.: (3en.
R. J.
McElravy, East Liverpool, 0.; Sec. & Treas., Geo. H. Faulk,Mgr..LiverEast
9001.
-V. 109, p. 1186; V. 114, p. 1892, 2014; V. 115, p. 545.

EASTON, PA.
THE NORTHAMPTON TRANSIT CO.
ORGANIZATION.
-A reorganization in 1921 of the Northampt
Traction Co. (for history see "Electric Railway" Supplement of April on
1922) sold at foreclosure Juno 11921. Holders of 1st Mtge. 5% bonds 29
of
the old co. received a like amount of new Northampton Transit
Co. 1st
Mtge. 6% bonds, as per plan in V. 115, p. 760.
STOCK AND BONDSDate. Interest. Outstanding. Maturity.
Common 3,000 shares (no par)
3,000 shs.
1st Mtge $100,000 red at 105 1921
6 J-J
409,000 July 1 1941
& Interest
Northampton Tr. Co., Easton, Pa., Trustee.
2d Mtge $250,000 red at 105 1921
6 J-J
150,000 July 1 1941
& interest
Northampton Trust Co., Easton, Pa., Trust.
Bonds.
-$100,000 2d mtge. Os held in treasury.
ROAD.
-Owns and operates road extending from Easton. Pa., to
Tatamy, Nazareth and Bangor, Pa.
OFFICERS.-Pres., Chester Snyder.
-V. 115, p. 760.

NORTHAMPTON-EASTON & WASHINGTON TRACTION
CO.
Receivership.
-In Nov. 1919 William L. Doyle, of
pointed receiver for the co. V. 109. p. 1987. 2440. Easton, Pa., was apForeclosure Proceedings.
-The Bankers Trust Co., N. Y.. has filed a suit
to foreclose the mtge. securing the $536.000 5% bonds of 1910,
because of
default of the interest duo Nov. 11919. V. 109, p. 1987.
DULUTH, MINN.
Reorganization Plan.
-In April 1922 the committee named below announced a plan of reorganization which provides for the formation
DULUTI
-I-SUPERIOR TRACTION.
-Trolley.
co. which will acquire the properties of the present co., to be bid inof a new
ORGANIZATION.
at fore-Incorporated in Connecticut In 1897. Owns
entire closure sale. The new co. will be capitalized approximately as follows:
stock of the Duluth Street Ry.. the Lakeside Street Ry. and the
Authorized.
Issued.
Rapid Transit. The corporate existence of the Duluth Street Ry.Superior First Mortgage 7% bonds
is main31.000.000
$100 000
tained, but all of its stock $2,000,000 authorized. $1.800,000
4% (revised plan calls
outstandin
536.000
x444,000
is held by the Duluth-Superior Traction. This latter company has g) Stock, no par value for 5%)Sk. Fd. Inc. bds
no
2.000 shs. 2,000 shs.
bonded debt. The Duluth Street Ry. was organized under Act of
x This may be increased or decreased in accordance with the amount of
Minnesota approved Nov. 17 1881 and pos.sesses "an exclusive franchise" which bonds assenting and subscribing
.
runs until 1931.
See decision with regard to franchises In Superior
First Mortgage Bonds.-Will bear int. at rate of 7%
in V. 80. p 1911. On Dec 18 1918 the company surrendered its franchise payable J. & J. Due Jan. 11950. 350,000 will beset from July 1 1922
aside to be issued as
to operate in Superior and in 1921 its Duluth franchise: the system now needed when earnings equal 14S times interest charges
on the 1st Mtge.
being operated on the indeterminate permit basis under which the State
bonds issued and to be issued.
stead of city officials, has jurisdiction over the co. V. 107, p. 2476. 'inIncome Bonds.
-Will be a lien subject to the 1st Mtge. Will boar int.
See
also V. 112. p. 2082. On Sept. 1 1917 the Duluth St. Ry. acquired the 3
at rate of 5% p. a. if and when earned. The deed of trust will provide for
mile line of the Park Point Trac. Co. of Duluth, Minn. V. 105, p. 180. a sinking fund
Bonds will mature April 1 1951; int. payable annually
The Duluth-Superior Bridge between Duluth. Minn.. and Superior, Wis., is beginning April 1 1923 for the year ending Dec. 31 next prior.
Exact
used by the railway but is a separate corporation, and has issued let M. terms of the bonds will be left with the committee.
bonds for $650.000 and 2d M. bonds for 3300,000.
Common Stock.-It is proposed to issue 2,000 shares of no par value stock.
-see bridge items. V.
63. p. 310, 504.
which will be held by the committee.
Valuation.
-See V. 110, p. 1748; V. 115, P. 435.
Terms of Exchange Subscriptions. &c.
Municipal Ownership Voted Down.
-On April 1 1919 a proposition that
Each assenting depositor will receive for each $1,000
the city purchase the co's. system was defeated by a vote of nearly two to cash $1,000 Sinking Fund 5% Income bonds and $200 1stbond and $180 In
Mtge. 7% bonds
one. On June 21 1920 another plan for municipal ownership as well as an
No rights to the Income bonds will accrue to any bondholder who
does
-cent fare, was voted down at a special election. not subscribe for the new 1st Mtge. 7% bonds.
ordinance providing for a 6
V. 111, p. 73. See also V. 111. p. 692.
Subscriptions to the now 1st Mtge. bonds may be paid in two installFares.
-On July 13 1922 the RR. & Warehouse Comm. of Minn. filed ments, one-half ($90) upon assenting to the plan, and the balance ($90)
an order effective Aug. 1 1922, fixing the valuation of the property of the within 60 days from the date that the plan becomes operative.
For furco., comprising the Duluth, Minn., Div.. and fixing a rate of fare of 6 cents ther details see V. 114. p. 1651.
Committee for 1st Mtge. 5s.
cash, 5 tickets to be sold for 25 cents. The co appealed from this order to
-Walter R. Hunt, E. Ilawley Nan Wyck,
the U. S. Dist. Court, which Court issued an order restraining the Comm. Laurence M. Symnaes, Warner Marshall and Robt. A. Pritchard.
Deand the city of Duluth from interfering with the co collecting a straight positary, Bankers Trust Co.. N. Y City.
6-cent fare after Aug. 1 1922, until final determination of the appeal. Later
ORGANIZATION.-Incorp. in 1910 in Now
the city of Duluth applied to the Court for a modification of Its order, and controlled by the Northampton Trac. Co.(now Jersey and was formerly
Northampton Transit Co.).
the former order was amended to provide that after Sept. 7 1922 the cash
Fare Increase.
-On Mar. 11 1918 the Board
faro should be 6 cents, but the en was required to sell 5 tickets for 30 cents, to increase its fares from 5 to 6 cents, and in of P. U.Comm.auth. the co.
Dec. 1918 a further increase
with a 5
-cent rebate coupon attached, pending final decree of the Court. to 7 cents was authorized. V. 106, p. 1127: V. 107. p. 2188.
V. 115, p. 1209. On Sept. 1 1921 the "%Vise. RR. Comm. ordered a 6
-cent
STOCK AND BONDS- Date. Interest. Outstanding. Maturity.
cash fare with 6 tickets for 35 cents in the city of Superior.
Stock 31.250.000($100)_
$1.250.000
Interest. Outstanding.
STOOK AN I) BON OS- Date.
Maturity. 1st M
(closed) g (3100, 515
--- iff
s
536.000 May 1950
$3,500.000 Oct.'18. 1%
Common. $3,500,000 ($100)-Q-J
$500. 11.000) ____s f cstf Bankers Trust Co.. New York, True' J.
Pref 4% cum.S1.500,000(3100) _ _ _ _
1.500.000 Oct.'22,2% Refund & consol mortgage 1912
Q-3
200.000 Jan. 1 ,'
5%
42
Duluth St Ry NI. $2.500.000.1 1900
5 g M&N 2,500.000 May 1 1930
31.000.000
Easton Trust Co., Trustee
lint. at Cent. Trust Co.. N. Y., Trustee
gold ($1.000)
Bonds.-Northamp.-East. & Wash. Trac. bonds are callable. In
Dul St Ry gen M 32,500.000. 1910
1.272,000 May 1 1930 In part. from May 1 1915 until 1925 at 110: thereafter until w ale or
5 M-N
d35 at
gold ($1,000) sk
c• Int. at Central Tr. Co., N. Y., Trustee. 107
thereafter until maturity at 105 and int. Mtge. Is
. Sink.
Stock.
-Both corn, and pref. are listed on N Y.Stock Exch. V. 90. p. 848 fund 1% annually of avge. amount of all bonds out from 1915 to I .25:11.4%
Bonds.
-The mtge. of 1900 covers all the mileage of the Duluth Street Ry. to 1910 and 2% thereafter. Bonds were unconditionally guar., is. & 1.,
the property of the Lakeside St. Ry. and of the Superior Rapid Transit by Northampton Trac. Co.(now Northampton Transit Co.). Int. payahaving first been conveyed to the Duluth St. Ry. The gen. mtge. bonds are ble in N. Y. City.
There were deposited to secure the Northampton East. Sr Wash. 1st M.5s
subj. to call on any Int. day at 105 and int. $189,000 are held in treasury and
$262,000 have been canceled. Remaining bonds may be issued for addi- the following bonds of the old Northampton Trac. Co.: $44.000 1st M.,
tions, extensions, &c., under conservative restrictions. They are guar.. $100,000 2d M.(entire issue) and $81,500 gen. M.(entire issue).
Lutes) Earnings -Of Northampton-Ea. ton At Wash 'rrac Co. for cal.
p. & I., by Duluth-Superior Trac. Co. Sinking fund of 23i% per annum of
:
bonds out began May 1913. Exempt from personal tax in Minnesota. year 1921, gross, $90,057; net, after taxes, $8,944. In 1920. gross.
$85.649:
V. 90. p. 1296; V. 91, p. 276; V. 92, p. 186; V. 104. p. 1044.
net, after taxes. $12.851.
Dividends.
-On the preferred stock 4% per annum from Jan. 1901 to and
ROAD.-17 miles of track from Phillipsburg, N.J. through Washington,
incl. April 1921. None to Oct. 2 1922, when 2% was paid. being 1% each N. J., to Port Colden, N. J.
-V.105, p. 1802; V. 102, p. 1127; V. 107. p.
'
for the quarters ending June 30 1921 and Sept. 30 1921.
V. 115, p. 1210. 604, 2188; V. 109, p, 1987. 2440.




OCT., 1922.]

ELECTRIC RAILWAYS

45

pal and interest, by end .by East St. Louis & Sub. Co.; callable at 105 and
EAST ST. LOUIS, ILL.
int. on any int. date on 30 days' notice. Autla issue unlimited, but additional bonds are issuable only for 80% of the cost of add'ns and imp'ts, and
EAST ST. LOUIS & SUBI112/1 AN CO.
TUE
-In Sept. 1922 Dillon, Read & Co. offered to pur- then only when net earnings are at least 1% times int. charge on bonds
New Control Proposed.
chase the pref. and corn. stock of the co. at $55 per share for the pref. and out as well as those to be issued.
payable one-half in corn. and one-half in pref. stock
-5% per annum was paid quarterly on old pref. from its issue
Dividends.
$10 per share for com.,
holdof the North American Co. E. W. Clark & Co. agreed to sell theirin the May 11908 up to and including Feb. 1914. On new pref. 1st div.-1 4%was paid May 1914; Aug.. lq%; Nov., lq%. In 1915, Feb., 1 Si%:1
ings on these terms, and invited the other stockholders to participate
3
sale. [In Oct. 1922 It was reported utiat 98% of utie pref. and 95% of the May rate was reduced to 4% (V. 100,9. 1437); same rate quarterly to an
corn. stock had been deposited under this offer. V. 115. p. 1837.1 Upon incl. Feb. 1918. None since.
consummation of this sale, Dillon, Read & Co. have agreed to sell the stock
EARNINGS of operating companies for 12 months ending June 30
Co. V. 115, p. 1320.
so purchased to the North American
(excl Alton Granite & St. Louis Trac. Co. and Alton Gas & Elec Co.)
-As per plan in "Chronicle" of Dec. 20
Net afi.Tax
REORGANIZATION. &C.
Year& Deprec. Int.,&c. Pref.Diy. Surplus.
Gross.
1913, p. 1822. this company was incorporated Jan 7 1914 in Delaware to
$217,654
$3,620.221 $863.776 $646.122
succeed the old East St. Louis & Suburban Co. of N J.In Oct. 1914 auth. 1921-22
292,486
653.189
945.675
4.371,085
capital of the latter was reduced from $11.000.000 to $1,000.000. consisting 1920-21
474.
of $60.000 pref stock ant $940,000 coin, stock. See V. 1(X). p. directors
RI A D.&c.
of single-track, of which 4 miles operated
-Operates 131 mites
all the outstanding capital stocks (with the exception of
Owns
under tease. Has 116 passenger cars, 4 express cars, 815 freight cars, 17
shares) and. bonds as stated of the following companies. The amounts work cars and 2 snow sweepers, 2 electric and 2 steam locomotives. Passenpledged with the St. Louis Union Trust Co. as collateral for the East St gers carried in 1921. revenue. 28.325.170; transfer and others. 5.710.582.
Co.coll, trust bonds are also shown.
Louis & Suburban
Has two power stations with 15,600 k.w. capacity. Has 95 miles of high----Stock---------Bonds
tension transmission lines. Also has contracts for power with Mississippi
Pledgea
Owned.
Pledged.
Owned.
River Power Co. and Union Elec. Light & Power Co.
Sub. Ry. Co__$3.850.000 $3,824.300 $4.000.000 $3.834.000
East St. L.&
-P., H. L.()lark; Sec.. G. L. EsteOFFICE RS.-Pres., O. M. Clark: V.
1.910.000 1.805.500 1,910.000 1.799.000
East St. Louis Ry. Co__ ..500.000 brook: Treas., T. W Gregory: Asst. Sec.. C. A Pearson Jr. Under the
500.000
499.500
St. L. & E. St. L. El. fty.Co. 500.000
750.000 management of E. W.Clark & Co. Mgt. Corp., Phila.-V. 113, p. 70.414,
750.000
______
St. L.& Bailey. El. Ry.00-848, 1052, 2613; V. 114. p. 1407. 1650: V. 115. p. 1210. 1320, 1837.
80.000
733.000
East St. L. Lt.& Power Co__ 1.200.000
274.000
Alton Gran. & St L. Tr. Co_ 3.189.000
100.000
-year notes
10
do
ELMIRA, N. Y.
599.000
Alton Gas & Electric Co__
-Controlled by the
10-year notes
do
ELMARA. WATER. Lliati r & RAILROAD CO.
United Gas & Elec. 0o.
These companies own and operate all electric railway lines in East St
-See United Gas Sr Elec. Corporation under N. Y.
Louis and Alton and Interurban !Inas to Belleville, Edwardsville. CollinsORGANIZATION.-Incorp. In New York May 26 1900 as a consolidaville, Caseyville, 0'Fallon, Maryville, Lebanon. Brooklyn. Venice. Madi- tion of all the water, lighting, power and street railway properties in Elmira.
son, Granite City and Alton, and the only electric line across the Eada Own entire cap. stock of Rorick's Glen Park Assn. and majority of stock of
Bridge, connecting East St Louis with St Louis Oars are operated over West Water St. RR. The latter co. operated under 999-yr. leases. In April
this bridge under a 50-year exclusive contract expiring In 1952. Through 1913 it was stated that all franchises have at least 72 years to run, while
arrangement with Illinois Traction Co the interurban cars from Alton are some of them are perpetual. In Feb. 1910 was auth. to acquire all stock
run into their terminal in St. Louis. Also do entire gas, electric lighting and if Montour Falls Electric Light Co. In Sept. 1914 absorbed the West Side
power business in East St Louis a id the electric lighting and power business RR., all of whose stock was owned. V. 99. p 815.
In Alton. A large coal bu-iness is also carried on.
On Mar. 17 1914 the stockholders authorized the creation of $3.000.000
Franchises in East St Lon's, Edwar4svIlle, Collinsville and Belleville 7% cum first pref. stock.
expire in 1917, 1918 and 1952; Lebanon and O'Fallon in 1922. The Alton
In 1915 sold the water supply system to the city of Elmira for 31.500,000,
electric light and power franchises expire in 1918. the Alton gas the proceeds, together with the proceeds from the sate of $232.000 5% cons.
railway,
and steam-heating franchises are perpetual; Granite City and Madison A. bonds, being used to retire the $1,661.000 5% bonds due Jan. 1 1949,
franchises expire In 1925. Brooklyn in 1921. The interurban line to which were called for payment at 105 and int. on July 11915. V.100 p 1592.
Alton, outside of city limits, is nearly all on private right of way. County
In June 1916 the P S. Comm. auth. (a) the absorption of the Elmira
franchises covering remaining suburban lines expire from 1921 to 1948. Transmission Co and the Elmira St Seneca Lake Trac. Co. all of whose
Electric light and power franchise in East St. Louis expires 2007.
$100.000 1st
Fred E. Allen. St. Louis. 'Locke and bonds were owned, and (b) the issuance of and $200.000cons. M
Sub Company fteceivership.-In Sept. 1920
2d pref
5s at not less than 92 ti and $125,000 1st pref. stock
and W. H. Sawyer were appointed temporary receivers (made permanent stock at par, to pay floating debt, for construction. &c.
714) for the Alton Granite & St. Louis Traction
In Feb. 1921-V. 112, p.
Fare Increase.
-In Ja i. 1921 the co. was auth. by the P. S. Comm. to
111, P. 1083:
Co. on petition of the bondholders, alleging default in int. V.
raise fares within the city limits to 6 cents and to increase fares at other
V. 112. p. 744. We understand that the Alton properties are now being points outside the city to 7 cents. V. 112, p. 1024.
separately operated. V. 112, p.561.
STOCK AND BONDSDate. Interest. Outstanding. Maturity.
-In Dec. l917 the alton Granite & St. Louis Trac. Co. applied to
Fares.
$1.000.000 Sept'17.1%
-S. C. Comm. for permission to increase its round trip fare from Alton Common *1.000.000 ($100)-the I.
1,489,300 Sept'22. 1%
the A. G. & St. L. Trac. Co. let pf. $3.000,000(7% cum)-- ---7 43-m
to St. Louis from 90c. to $1. In June 1918
1,200.00(1 Sept'22. I ti
5 M
was auth. to increase fares from 5 to 7 cents on its lines in Granite City eau 24:1pref 5% cum $1,200.000___
4,741,000 Sept 11958
5 g M-S
2561. A 7-cent fare was inaugurated on the connecting let con mortgage $5.000.0001 1906
Alton. V. 106. p
($1.000)
gc*tf I Interest at New York Trust Co.. Trustee.
line between these two points on Aug. 9 1918. V. 107. p. 695 In March.
Stock.
-First pref. is red, at option of co. at 115 and (Hy.
1920. fares on the Altai' city line. were increased to 8 cents. In May 1921
Dividends.
-On 1st pref.. 1 S(% quarterly is being paid. On 2d pref..
on were raised from 8 cents to 10 cents, and the rate between
fares In Al'
Venice and Brooklyn was inc-eased from 8 cents to 10 cents, with tickets at 2% paid semi-ann. from Sept. 1907 to and incl. Mar. 1914. On July 1
5 for 40 cents. illi.mois authorities are restrained from interfering with these 1914 1 2-3% was paid,covering four monttut. and In Oct. 1914 div. of 13i%
V. 112. p. 1977. was paid, the annual rate being 5%. payable guar. instead of semi-annl.
rates under an Injunction granted by the Federal Court
In Sept. 1918 the A. G 0.& St. L. Tree. Co. was auth. to charge 2ti cents 1 V.99. p. 608). Same rate quer. since to Sept. 1922. On corn., 1st div.per mile plus Missouri River bridge fares. The co.'s application had called 1%-paid Oct. 1910. In 1911, 1912 & 1913.4%. In 1914. Oct.. 2%. In
l915. Jan..2%; April, 1%;July,1%. In June 1916 paid 2% for 6 mos.end.
for 3 cents per mile. V. 107, p. 1192. Effective Nov. 10 1918. was auth
by the Ill. P. S. Comm. to charge 3 cents per mile on interurban lines. Dec. 31 1915 (declared in Dec. 1915) and 2% for 6 mos. end. June 30 1916.
In Sept. 1916 paid 1%; Dec. 1916, 2%; Sept. 1917, 1%; none since.
1837.
V. 107. p.
In June 1918 the East St. L. & Sub. Ry. applied to the Ill. P. U. Comm
ROAD, &c.
-Comprises 53.8 in. of single track in Elmira, Elmira
for auth. to charge a 7-cent fare with a 1-cent charge for transfers and to Heights, Horseheads and from Horseheads to Watkins (via Pine Valley.
raise fares between St. Louis and East St. Louis from 10 to 12 cents. In Miliport and Montour Falls). Has 94 passenger and 20 other cars. 56 to
Sept. 1918 the 1.-S. O. Conlin auth the co to increase fares from 10 cents 122-lb. T and girder rails. Owns Rorick's Glen Park and Maple Ave.
to 11 cents between St Louis and East St. Louis. Ill., and nearby points in Driving Park.
Illinois. V. 107, p. 1192 In July 1918 VMS auth. by the Ill. I . U. Comm•
Gas Dept.-Has 80.7 miles of natural gas mains.
to charge 2 cents per mile for ticket fares and 3 cents per mile for cash fares
Electrical Dept.
-Two 5,250 k.w.. one 5,000 k.w., one 2,250 k.w. and one
V. 107, p. 401. Auth to charge a 6-cent fare in East St. Louis was granted 2.000 k.w. turbines and 7 h.p. boilers. Serves Elmira, Elmira Heights,
by the Comm , effective Aug. 10 1918. Effective July 26 1920, was auth
Horseheads, Millport, Montour Falls, Odessa, Chemung, Wellsburg and
by the Ill. P. U Comm. to inerease fares from 6 to 8 cents. V. 111, p 588. Big Flats; sells power to Corning Lt. & Pr. Corp. and the Elmira Corning
In Jan. 1921 the 8 cent fare was made permanent, but two tickets are to be & Waverly Ry. Co.
sold for 15 cents and children's fares are 3 cents. V. 112, p. 372. In
Fixed
Surplus for
Net (after
Gross
EARNINGS.Sept. 1920 was authorized to increase fares between East St. Louis and Cal. YearCharges. Renew..&c.
Taxes).
Earnings.
-cent fare on the Belleville 1921
Belleville from 6 cents to 7 cents and to charge a 7
$278.037
$286,608
$561.645
$1,679,247
city line. V. 111. p. 1083.
251.187
250.461
501,649
1920
• 1,765,718
Jitneys R.stricted.-On Aug. 17 1921 Federal Judge English granted the 1919
252,209
248,157
500,366
1,567,616
A. G. & St L. Trac. Co. a permanent injunction against jitney bus opera-P. &
-P., Geo. Bullock; 2d V.
OFFICERS.-Pres., E. G. Connette; V.
tors in Alton, Ill. V. 113, p. 1052.
interest due Feb. 1 1919 on the A. G. & St. L Gen. Mgr., P. H. Hill; Sec. & Treas Harry B. Cleveland; Asst. Sec.,
-The
Interest Payments.
-V.107, p.805; V.112,p.1024,
J. A.McKenna;Asst. Treas., A. L. Linn Jr.
Trac. Co. 1st consol 5s was paid in Aug. 1919. The interest due Aug. I
1919 was paid Feb. 1 1920. None paid since. V. 111, p. 1751; V. 113.
p. 414. (See under "Sub-company Receivership" above.)
EL PASO, TEXAS.
Financing.
-Holders of *2.094.000 5-yr.6% cony, bonds, due Jan. 11919.
-incorporated In New Jersey and owns the
EL PASO ELECTRIC CO.
were offered the privilege of exchanging their holdings of said issue for new securities of the El Paso Elec. Ry. Co., El Paso & Juarez,Trac. Co. and Rio
7% cony, bonds, dated Jan. 1 1919 and due Jan. 1 1921, similar in other Grande Valley Traction Co., which do the entire electric railway, electric
respects to the 5-yr. 6s at a cash discount of 1%. V. 108, p. 77. Upon lighting and power business in El Paso, Tex.. and Juarez. Max., and opermaturity in 1921 ($2.116,000 then outstanding] the holders of the 7% cony. ate an electric railway between El Paso and Veleta. Franchises in El
bonds were asked to exchange same, par for par, for new 8% cony. bonds, Paso expire
1952. Railway franchise In Juarez expires in 1988.
dated Jan. 1 1921 and due Jan. 1 1926. The new bonds are similar in Interurban in 1951 and
almost entirely on private right-of-way. In 1009 increased
other respects to the maturing issue. V. 112. p. 561.
pref. from $500.000 to $1.000.000. V. 90, p. 109. In Mar. 1914 increased
Date. Interest. Outstanding. Maturitg authorized amount of corn. stock from $2.000.000 to $3.000,000. V. 98,
STOOK AND BONDS6.000.000
0ommon. $10.000.000 ($100)p. 839. *525.000 corn. stock Is owned by Pub. Service Investment Co.
See text
First pref, 6% cum
In June 1920 the co. issued $800.000 7% notes, proceeds being used to
6.000.000 Feb'18. i% retire $300.000 6% notes due Aug. 1 1920 and for 1920 construction rePreferred *6.000.000 ($100)}
5% cum __
quirements. V. 111, p.73, In Sept. 1921 issued an additional $750.000 of
2,064.210 Jan. 11928 these notes, proceeds being used for new construction, the principal item
Convertible bonds $3, 8 J-J
- 0,b00 1921
00
($100, 11500 & $1,000)_c*tf Pa. Co.for Ins. on L. & G. A., Phil. trustee. being a new 7.500 k.w. turbine unit in the power station. V. 113, p. 1250.
Cloliaterai trust mortgage *s.t 1902 6 g A-0
8.000.000 April 1 1932
-In Dec. 1920 the co. was auth. by the El Paso City CounFare Increase.
000,000 gold ($1.000).c'tf Interest at St. Louis Union Tr. Co.. Trustee. cil to increase fares on its city lines from 5 to 6 cents. V. 111, p. 2324.
or at E. W. Clark & Co.. Philadelphia.
Interest. Outstanding. Maturity.
Date.
STOCK AND BONDSA 0 & St Louis Trac Co let1904
2.500,000 Aug 1 1944
5 g F-A
Q-M
82.914.100 Sept'22, 2%
---consol
*3.000.000 gold Int. at Illinois State Tr. Co. East St. Louis Common, $3,000.000(UM-- --_6 J-J
1.000.000 July'22. 3%
Prof $1,000.000 6% n-c ($100)
(*1.000)
_....ctti Trustee, or at National City Bank, N Y (loll tr M (closed) $1.0C10.0001 1902
1.000,000 Jan 119
5g
Alt 0 & St L 10-yr notes_ __ _ 1917
June 1 1927
5 J-D
100.000
et t lint at State St. Trust Co., Boston. trustee.
31.0001 gold__
Alton Ry & Ilium first mtgel 1895
5 g A-0
250,000 Oct. 1 1939
1,550,000 July 1, 1925
-year gold notes. $3.000.000J 1920 7 g J-J 1
5
$250.000 g ($1.000).__cotf f Int. at Bankers Tr.Co.. N.Y..trustee.
($100.
Alton Ry Gas & Electric Ots 1899
050.000 Oct. 1 1939 Car trust$500 & $1,000_c*tf1 Guaranty Trust Co.. N. Y., Trustee.
5 g A-0
certificates
mtge $500.000 ($1.000) Int. at Equitable Tr. Co., N. Y., trustee.
Stock.-$216.300 of the pref,stock reported as outstanding, is in treasury.
gold
19 1o 6g
(closed)N0 sinking fund; bonds cannot be called
be
Bonds.
-Collateral trust
1,172,000 June 1 1940 The notes are callable as a bonds cannotandcalled and have no sinking fund.
East St L Lt & Pow 1stilM
etr
whole at 100
int. on any int. day on 30 days'
g. guar IS & I ($1.000)elf Int. at Mercantile Tr.Co.. St Louis, Trustee. notice. They were issued to provide for additions and improvements.
Chase Nat. Bk., N. Y., and at co.'s office.
Notes.
-Are to be secured by pledge of all the bonds, notes and stocks of
Stock.
-The 5% coin. pref. may be exchanged at any time for 50% of subsidiary operating companies subject to the lien of the closed $1,000.000
6% cum. pref. and 50% com. stock. The 6% pref. takes precediuce both collat. trust bond issue maturing Jan. 1 1932. Additional notes issuable
as to dividends and assets over the 5% prof. and the common st k. V
only under certain restrictions. Are red. all or in part at any time on 45
97. p. 1822; V. 98 p. 304, 155. Remaining $4.000,000 common s (ck re. days' notice at 102 and int. since July 1 1921 to June 30 1923; 101 July 1
served for conversion of 5% pref. stock and convertible bonds.
1923 to June 30 1921; 100 July 1 1924 to maturity. Penna. 4 mill tax
Bonds.
-Coll. trust bonds are redeemable on any Int. day at 105 and refunded. V. 111, p. 73; V. 113, p. 1250.
-First div.. 3%, on pref. stock, was paid Jan. 12 1903. and
Dividends.
int. on four weeks' notice. See V. 76, p. 382. The cony. 8s are convertible
into an equal amount of 6% cum. pref. stock and in addition 33 1-3% in 3% paid s.-an. since. On cam_ 1st My.,2%, Mar. 1910; Sept., 2: in 1911
$50,000 began Aug. 1 1921 for 5%; in 1912. Mar.. 3%; Sept., 3 %; in 1913. Mar., 34%;In June 1913
corn. stock. A semi-annual sinking fund of
began to pay quer. dive. and paid 2%;also Sept., 2%; Dec.,2%; Mar. 1914
the purchase of bonds at not exceeding 102A in 1921, 102 in 1922. 10l3.
In 1923. 101 In 1924, 100 ti In 1925. $51.800 retired. Red. all or in to Sept. 1915. 2 ti% quer.; Dec. 1915 to S.ipt. 1922. 2 ti% quarterly.
• EARNINGS -Of combined companies for 12 months ending June 30.
$500,000 of the Alton
part at any time at prices named. V. 112. p. 561.
Int., &c. Sink. Fund.
Surplus.
Net aft. Tax.
Gross.
YearGranite & St. Louis Traction let consols are reserved for prior liens.
$534.085
126,781
$200.327
$734,406
are also a lien on property of Alton Gas & Electric Co., which was 1921-22___$2,289.586
They
556,400
68i .188
_ _ 2,162,333
owned by the Alton Granite & St. Louis Traction Co., when the mtge. 1920-21_
-S1.5 inales of equivalent single track; standard gauge. 92 pass
ROAD.
was made. $566,000 of the bonds have been assumed by the Alton Gas
bonds are subject to call on any cars, 6 trailers and 5 other cars. Power station has capacity of 10,700 k.w,
& Electric Co. No sinking funds, but
OFFICERS.-Pres., C. F. W. Wetterer; V-P. Joseph Remick;
Int. date at 110 aid
upon 90 days' notice. The Alton Ry. & Blum. let
M. 5s originally matured Oct. 1 1915. but were extended to October 1 Treas.. Henry B. Sawyer; Sec., Geo. A Pierce; Gen. Mgrs., Stone & Web-V.106. p. 2010; V. 111, p.73, 2321; V. 113, p. 1250, 1360.
princ - ster Mgt. Assn.
1939. East St. Louis Light & Power bonds are guaranteed,




46

ELECTRIC RAILWAYS
ERIE, PA.

NORTHWESTERN ELECTRIC SERVICE CO.OF PENNSYLVANIA
Merger Plan.
-In Oct. 1922 it was announced that a plan had been
agreed upon for the merger and consolidation of the Northwestern Pennsylvania Ry., the Northwestern Connecting Ry., the Crawford County Rys.
and the People's Incandescent Light Co. into and with the Northwestern
Electric Service Co. of Pennsylvania.
The consolidated company will be capitalized approximately as follows:
uthorxed. Outstanding.
7% Cumulative Pref. stock (par $100)
$1,000,000
$466,500
Common stock (par $100)
1,000,000
346.300
6% 1st mortgage bonds
2,000,000
460,000
Securities Remaining Undisturbed
Erie Tiaction Co. 1st Aage. 5s, due March 1 1929
$500,000
Crawford County Rys. 1st Mtge. os, duo July 1 1961
People's Incandescent Lignt Co. 1st Mtge. 7s, due Dec. 1 1926150,000

[VoL. 115.
ESCANABA, MICH,

ESCANABA TRACTION CO.
•
Reorganization.
-We understand that the co. has been reorganized as the
Escanaba Power & Traction Co..V. 111,P. 188. Further information lacking
ORGANIZATION.
-Reorganization in Aug. 1909 of Escanaba Electric
St. Ry. and Escanaba Power Co. Controls the Escanaba Pulp & Paper
Ots. Does electric light and power business in Escanaba. Gladstone and
Wells. Mich. Is allowed to carry freight.
STOOK AND tIONIDSDate.
Interest. Outstanding. Maturity.
Common stock $200.
_200,000
Pref stock $500,000 ------------500,000
Let & ref tntge $600,000 gold1 190g
5 J-J
540.000
See text
($1,000)
_.
_c*.cot Int. at First Say. & Trust Co., Milwaukee.
iecond mtge. $200,000 gold 1909
5 g A-0
200.000 Jan. 1 1934
($100 & $1.000)_c"&r.cpt Michigan Trust Co.. Grand Rapids, Trustee.
Red. at 103 and interest_ Int. at First Trust Co., Milwaukee.
x Of which $370,000 outstanding in hands of the pubdc and $23,000 at
Bonds.-lst & ref. bonds mature $10.000 annually from 1914 to 1933.
present held in treasury as a free asset.
incl.. remainder In 1934. 170.000 have been retired. They are subject to
The securities of the consolidated co. will be exchanged for present lall at 103 and int on any int. date. Michigao Trust Co., Grand Rapids,
outstanding securities as follows:
rustee. V. 92. p. 1564; V. 103. p. 406.
Will Receive
EARNINGS.
-For years ending Dec. 31:
Existing Securities Outstanding- Pref. Stock. Com. Stock. 1st M: lids. YearGross.
Net.
*Oth. Inc. Interest.
Surplus.
N.Pa.Ry. 1st & Ref. 6s__$400,000
$424,000
1918
$174.421
$56.518
$10.000
Common stock__ 100,000
do
$100,000
1917
183,251
98.631
5.000
$5
gr,E
)
do
Notes
40,000
$40,000 1916
142.141
77.023
18.614
38.857
56.779
NW.Conn. Ry. cap. stk
x70,000
70,000
Crawford Co. Rys.cap.stk_100,000
150,000
'Earnings from Escanaba Pulp & Paper Co.
NW.El. Serv. Co. pf. stk_ 300,000
75,000
350,000
ROAD.
-Owns and operates street railway in Escanaba and an interdo
Common stock
42,500
42,500
21,300
titan road to Gladstone, which was placed in operation in July 1910. Power
xAt present owned and hold by Northwestern Electric Service Co. of Pa, plant capacity, 7,900 h.p. A new dam on Escanaba River, providing
OFFICERS of the new co. will be F. F. Cutrze, Pres.; C. M. Hatch, 1.400 additional h.p.. was completed Jan. 1 1916.
OFFICERS.-Pres., J. B. Moran; V.
V.-Pres. & Gen. Mgr.; A. 0. Chapin, Sec.; A. A. Culbertson, Treas.,
-P., J. C. Kirkpatrick; Sec. & Gen.
Erie, Pa. For further details of plan and description of new securities Mgr., P. L. Utley; Treas., M.N.Smith, all of Escanaba.
-V.111, p. 2228.
to be issued in connection therewith, see V. 115, p. 1731.
ORGANIZATION.-Incorp. Feb. 29 1916 in Penn. for the purpose of
developing the light and power business adjacent to the Northwestern Penn.
EUREKA, CAL.
Ry. Co.'s lines. Leases for 99 years from 1916 the property of the Peoples
Incandescent Light Co., Meadville, Pa.
EUREKA STREET RAILWAY.
Wholesale power is furnished to the Northwestern Pennsylvania Ry. Co.
Successor to the Humboldt Transit Co., which was sold to the city
for the operation of its entire lines; to a local company for distribution at
Albion,Springboroand Conneautville: to the Conneaut Lake Co. and to a Eureka in 1921. For history of Humboldt Transit Co. up to time
local distributor for the Borough of Conneaut Lake and territory on east purchase by municipality, see "Electric Railway" Stipp. of Oct. 22 1921,
side of lake. Has a contract for wholesale power service to the Borough of
Girard.
CapitalizationAuthorized. Issued
EVANSVILLE, IND.
Common stock
$300,000
$40.000
First preferred stock, 7% cumulative
500,000 $298,500
EVANSVILLE & OHIO VALLEY RAILWAY CO.-Incorp.In Indiana
in Dec. 1918 and acquired on Feb. 20 1919 the properties of the Evansville
EARNINGS.
-For years ending Dec. 31:
Cal. YearsGross.
Net.
Int., &c. Balance. Railways Co.(for history see this publication for Sept. 19181.In accordance
1920
$339,035
$77.986
$40.731
$37,255 with the plan of reorganization set forth to detail in V. 107. p. 2289; with
1919
291.284
61,666
37.719
23,947 the exception that the plan as revised by the Ind. P. S. Comm. provided
for the
LATEST EARNINGS.
-For cal. year 1921. gross, $366,323; net., after stead issuance of only $300,000 corn. stock and $200,000 pref. stock. Inof $1,000.000 corn. and $500,000 pref. as originally planned. The
taxes, $87.737.
co. has acquired the stocks of the Henderson Traction Co. and the OwenPROPERTY.
-50 miles of 33,000 volt transmission line between Erie boro City RR. Co., both of which had been owned by the Evansville
Rys.
and Harmonsburg. Pa., with a branch between Erie and Kearsarge. Pa
Co., and has also acquired in fee the Evansville Henderson & Owensboro
Distribution lines in East Springfield. West Springfield, Platea, Cambridge
Co.. which operates a line between Evansville, Ind., and Henderson.
Springs, Edinboro, McKean, Fairview, North Girard, Linesville and Har- Ky.
monsburg, all in Erie and Crawford counties, Pa.
Fare Increase.
-In Sept. 1918 was auth. by the I.
-S. 0.
crease fares between Evansville, Ind., and Henderson. Ky.,Comm. to inOFFICERS.-Pres., F. F. Curtze; V.-Pres. & Gen. Mgr., Chas. M
and
diate points not exceeding 10%. V. 107, p. 1192. In Oct. 1922 intermeHatch; Treas., A. A. Culbertson; Sec., A.0. Chapin.
-V.115. p. 1731.
the rate
was 3.6 cents per mile.
STOCK AND BONDS.te
tstanding. Maturity.
NORTHWESTERN PENNSYLVANIA RY.
Common $1.000,000($100)--- --------------$300,000
Pref. $500.000 n-cum ($100)-Merger.
-See Northwestern Electric Service Co. above.
6%
200.000
1st M $200,000 sk fd
1919 6 J-J
See text Jan 1 1949
ORGANIZATION.
-Organized early in 1920 to take over the so-called
ICont. & Comm.Tr.& S. Bk.. Chic., trustee.
Northern Division, of company of the same name, sold at receiver's sale on 1st & Ref
$1,200,000 callable 1919
5 J-J
717,200 Jan 1 1949
Dec. 29 1919. For history of predecessor company see "Electric Railway"
at 1021i on
Supplement of April 24 1920. The Southern Division of the old company, General Mtgeany int. date.... Am. Ti'. & Say. Bk., Evansville, trustee.
Income bonds 1919
see text
746.800 Jan 1 1949
now known as the Crawford County Railways Co. (see below), is now
$750,000
r Mercantile Comm'l Bk., Evansv.,
operated under lease. See V. 114, IL 1287.
Collet trust notes $300.000 1918 6 J-D52,900 Dec trustee.
1 1929
STOCK AND BONDScallable at par
Date.
Interest. Outstanding. Maturity.
Mercantile-Comml Bank, Evansv.. trustee.
Capital stock $1,500,000($100)
$100.000
Bonds.
-$65,000 of the let Mtge. bonds had been
April
First & ref mtge $1,000,000 1920 6 J-J 1
400,000 July 1 1955 Sink, fund of $2.500 per annum starts in 1929 and issued to for 1 1922.
10 3rears,
($1,000)
c tf Int. at Erie Trust Co.. Erie, Pa., trustee.
and thereafter the sk. fd. retires $5,000 per annum. continues
Callable at 103 during
Erie Trac (Erie Div) $500,000 1907
5g
500,000 July 1 1929 the 1st 10 years: 102 during
gold
cstf Int. at Secur. Say. & Tr. Co., Erie, Trustee Should no 1st Mtge. bondsthe 2d 10 years. and 101 during the 3d 10 years.
be issued, then the sinking fund provided for
Equipment notes $60,000...... 1917
6 F-A
10,000
See text their retirement will be applied to the 1st & Ref. bonds. The gen. mtge.
Erie Trust Co., Erie, Trustee.
Income bonds draw int. at not to exceed 5% per annum and only when
Bonds.
-The Erie Traction bonds have a sinking fund of $20 for every earned. Int. not cumulative.
$1,000 first mtge. bond, which began July 1 1917 (denom.
Notes.
-In addition to the amount reported outstanding, $97,100 have
000
and $10,000). The equipment notes mature $10,000 yearly Aug. $5,
$1,000' 1 191F1 been issued and are held in the treasury.
to 1923. Of the let M. 68. $500.000, are reserved to retire the $500,000
EARNINGS.
-Of Evansville & Ohio Valley Ry. Co. for cal. year 1921
Erie Traction 58, $100,000 are for additions. Red. at 105. No sink.fund. (not incl. Hend. Trac. and Owensboro
City RR.), gross, $449,294; net, after
EARNINGS.
taxes, $112,194. In 1920, gross, $462,797; net, after taxes, $118,293.
-For years ending Dec. 31:
Calendar
Gross
Net Interest, &c. Sink.
ROAD.
Surplus or
-Operates between Mt. Vernon. Evansville, Henderson, RichYearEarnings. Earnings. Taxes.
Fund.
land and Grandview. Operates 70.68 miles of track, of which 56 miles
Deficit.
x1920
$453,834 $84,868
$87,533 $17,000 def.319,665
are owned in fee, 7.22 miles are leased, 7.46 miles trackage rights. Has
1919411,528 76.260
104,466
21,500 def. 49,706 4.32 miles of sidings; total mileage 75 miles. 70
-lb. T-rail. Gauge 4 ft.
r 380,693
1918
66,131
120,110
19,417 def. 73.396 834 inches.
x Combined with Crawford County Rys Co.
OFFICERS.
-Chairman. A. P. Barges; Pres., W. El. McCurdy; V.
-P.,
-For calendar year 1921 (including Crawford County W. A. Koch; V.
Latest Earnings.
-P., %V. A. Carson; Sec. & Treas.,0. H. Bs ttin; Gen. Mgr.,
Railways), gross, $446,651; net, after taxes, $89.904.
G. R. Millican; Auditor, R. Vote.
-V. 108, p. 378; V. 110. p. 2487.
-Owns and operates 43.7 miles between Meadville and Erie.
ROAD.
-Street railway.
(1) Henderson Traction.
T and girder rail. Standard gauge. Operates under lea these
Acquired by Evansville Rys. (succeeded in 1919 by Evansville & Ohio
Ines of the Crawford County Rya Co.
Valley Hy. Co ) in April 1913. V. 96. p 1488.
OFFICERS.-Pres., F. F. Curtze; V.
-P. & Gen. Mgr., Charles M•
ORGANIZATION.-Incorp. in Kentucky Feb. 22 1907 as
Hatch; Sec.. A. 0. Chapin; Treas., A. A. Culbertson. General office. to the Henderson City By_ sold at foreclosure on Feb. 18 1907. a successor
-V. 110. p. 167, 2388: V. 111. p. 1753. 2229; V. 112. p. 162. 1519
Erie Pa.
originally extended to 1936. In 1918, however, a new 20-year Franchise
was granted the co. which provides for a 7-cont cash fare or 4 franchise
V. 113, p. 1574; V. 114, p. 1287; V. 115, p. 1732.
tickets for
25 cents.
-Operated by Northwest(1). Crawford County Railways Co. (1921)
STOCK AND BONDSDate.
Interest. Outstanding. Maturity.
ern Pennsylvania Ry. Co. under the lease for 99 years dating from Jan. 1
Stock.$150,000($100)
1921. V. 114, p. 1286.
$149,800
First mortgage, $150.000f 1907
5 g A-0
105,000 Apr.15 1927
-See Northwestern Electric Service Co. above.
Merger.
($1.000. $500.$100) gold tfl Int. at Ohio Bkg.& Trust Co., Henderson Tr
ORGANIZAT1ON.-A reorganization in June 1921 of the Crawford
Bonds.
-$133,000 bonds issued but $28.000 held in treasury.
Remaining
$17.000 are reserved for extensions and Improvements. Subject
-1920 (for history see this section for April 30 1921),
County Railways Co.
to call on
which was; purchased at judicial sale by the bondholders' protective com- April 15 1922 at 105. sin ainkiniz fund
EARNINGS.
-For calendar year 1921. gross, $43,537; net. $1,658; in
mittee and reorganized as of June 20 1921 as per plan outlined in "Electric
Railway" Supplement of April 30 1921. Interest and sink, fund on the 1920, gross, $48,002; net, $1,592.
co.'s 1st Mtge. bonds are protected by the following leases:
ROAD.
-Operates 6 miles of street railway. V. 90. P. 1363.
(1) Lease of the People's Incandescent Light Co. property to the North(2) Owensboro City Railroad.
-Street railway.
western Electric Service Co.of Pennsylvania at an annual rental of $26,000.
Acquired by Evansville Rys. (succeeded in 1919 by Evansville & Ohio
(2) Lease of the property of the Southern Division of Railway company to Valley Ry. Co.) in April 1913. V. 96, p. 1488.
the Northwestern Pennsylvania Ry. Co. (Northern Division) at an annual
ORGANIZATION.
-Chartered in 1886. Franchise runs till 1936 and
rental of $9,000.
gives exclusive rights to operate streetrall way in said city.
The above leases run for a period of 99 years and carry certain options
STOCK AND BONDSInterest. Outstanding. Maturity
Date.
for purchase under terms protecting bondholders.
175.000f.p
The People's Incandescent Light Co. 1st Mtge. 5s, due Dec. 11920, were Jommon. $75,000 (par $50)
let mtge.. 8200,000, gold I 1902
200,000 Jan, 1 1932
5 g J-J
extended for 5 years at 7%•
($1,000), c&r, not red _ tf f Interest at Louisville Trust Co., rustee.
Outstanding. Maturity. General mortgage.$200.000t1J 1910 6 M N
te
STOCK AND BOND200,000 May 1 1933
37000
) Amer. Tr "c Say. Co.. 11 %mow.. Ind. Trustee
;
Common stock $100,000------------------$100,000 July
EARNINGS.
-For calendar year 1921, gross, $85.727; net, $9,382; in
1 1941
First Mtge. $370,000 ($500 &I 1921 6 8 J-J
1920. gross, $106,910; net, $12.732.
$1,000) gold
c*'Columbia Trust Co., N. Y.. Trustee.
150,000 Dec 1 1925
People's Incandescent LightI 1900
ROAD.
7%
-Owns 12 miles of street railway in Owensboro and suburbs;
tff Dela.Co.Tr.Safe Dep.& Title Ins.Co..Trus. 56 and 70-1b. rail; 30 motor cars, double West., 68 G. E. 258 and 54:
Co let mtge
trailers and 6 25-ton coal cars. Power house 600 k. w. capacity. V. 7
Bonds.
-The let Mtge. 6s are secured by $145,000 stock of the People's p. 1364;
90,
4. 105, p. 2273; V. 112,
Incandescent Light Co. contingent sinking fund. Tax-exempt in Pennsylvania. Subject to call on any interest date at par.
EVANSVILLE SUBURBAN & NEWBURGH RY.
ROAD.
-Owns 8.3 miles of track in Meadville and 15.7 miles between
ORGANIZATION.
-Incorporated in Indiana in Dec. 1888, with a perMeadville and Linesville, including a 2
-mile extension to Conneaut Lake. petual charter.
Pass. business hauled by electricity and freight by steam.
Rails. 60
-85-lb. T and girder. Gauge 4 ft. 8Yi in.
Does a car-lot freight and express business. Has private right-of-way.
OFFICERS.-Pres.. F. F. Curtze: V.
-P.. Chas. M. Hatch; Treas.. A. A.
Fares.
-In Oct. 1920 was auth. by the Ind. P. S. Comm. to increase fares
Culbertson; Sec., Geo. W. Kunz.
-V. 114. p. 1286, 1650; V. 115, p. 1729' Co 3 cents per mile.




$aga)

47

ELECTRIC RAILWAYS

OCT., 1922.]

Date. Interest. Outstanding. Maturity
STOCK AND BONDS$307.400
Stock.$500,000($100)----470,000 July 1 1930
5 g J-J
mortgage. 3500.000. goldf 1904 Citizens Tr. & Say. Bk., Evansville,
1st
$1,000)____c*tfl Int. at
($500 and
( Trustee,or Nat. Bank of Commerce. N Y
-A sinking fund of $2,500 per annum commenced July 1 1910.
Bonds.
of bonds redeemable
which will retire bonds at 105. All or any part V. 96
1365.
after 15 years at 105. 330.000 have been retired.net, afteris.
taxes, 633,446.
-For year 1921. gross, 1265.622;
EARNINGS.
taxes, $54,980.
In 1920. gross, $374,025; net, after from Evansville to Newburgh, with
-Operates 25 miles of track
ROAD.
Station and Chandler to
a branch off the main line through Stevens 30 miles. 70-1b. T rails. Boonville: has also 5 miles of side-track: total. Muhulhausen; V.
-P. & Treas..
OFFICERS.-Pres. & Gen. Mgr., Gus
-V.83. p. 271; V. 96, P. 1365.
Chas, W.Cook; Sec.. Jas. E. Cox.

FISHKILL-ON-THE-HUDSON, N. Y.
-A trolley road.
FISHKILL ELECTRIC RAILWAY C0.
Leases the Citizens' Railroad, Light & Power Co.
Fare Increase.
-Effective April 1 1919 city fare was made 8 cents and 2
cones outside city were created, fares 5 cents in each or 8 cents for both to
through passengers.
Interest. Outstanding. Maturity.
STOCK AND BONDS- Date.
150.000
Stock.$50,000
First mortgage. 350,000
50,000
July Ms
1895 6 J-J
EARNINGS.
year ending Dec. 311921, gross. $79,774. In 1920,
-For
5 2e.
grT $73,881; net, after taxes, $6,454; int., rentals, &c., $12,000; def..
-P., Jas. G. Meyer;
OFFICERS.-Pres. & Gen. Mgr., W. E. Conklin; V.
Sec. & Treas., B. L. Smith.
-V. 107, p. 501.

FAIRMONT, W. VA.
MONONGAHELA POWER & RAILWAY.
-In June 1922 the West Penn Co. (formerly the West Penn
Control.
Tree. & Water Power Co.) acquired a substantial controlling interest.
V. 114, p._2116. 2718, 2823.
-Organized in W. Va. on May 18 1912 as the MonORGANIZATION.
ongahela Valley Traction Co., name changed (V. 112, p. 2083) to present
title on May 111921. Is a consolidation of Fairmont & Clarksburg Trac.
Co., Fairmont & Northern Trac. Co. and Clarksburg & Weston Elec.
Ry. On Dec. 1 1915 acquired the Fairmont Gas Co. V. 101, p. 1465. On
April 1 1917 absorbed by merger the Fairmont & Mannington Trac. Co.,
formerly controlled, that co.'s $600.000 5% pref. mortgage bonds dated
Jan. 1 1906 (all owned by Monongahela Co.) being cancelled. On June 30
1917 acquired control of the Kanawha Trac. & Elec. Co.(now known as the
Parkersburg-Marietta Division) which see under "Parkersburg, W. Va.,"
through ownership of approximately 96% of its stock. V. 105, p. 290.
The co. has since acquired all the outstanding common and pref. stock of
that co. Owns all the stock of Fairmont By-Products Corp., incorp. in
W. Va. in May 1918 to build a $5,500.000 coke oven plant and an industrial
city to cost 1750.000. V. 106, p 2450. In Nov. 1921 the company disposed of Its holdings in the Consolidation Coal Co. V. 113. p. 2185.
Owns and operates a system of electric railways in W. Va. and Ohio
exceeding 180 miles of track; also electric lighting and gas plants and coal
mining properties. Franchises in Fairrnont are perpetual. In other
cities and towns extend for 50 years, the shortest expiring in 1952. Inter
urban lines on private right of way. Franchises over county roads and
bridges in Marton and Harrison counties are perpetual.
-Effective April 11918. was auth. by the W. Va. P. B.
Fare Increases.
Comm. to increase rates on the interurban lines of the Fairmont-Clarksburg
Division an average of 20%. In June 1920 the W. Va. P. S. Comm. auth
an increase of 2 cents in fares. V. 110, p. 2487.
In April 1921 issued 12,000,000 1-yr. 8% notes to retire notes due May 15
1921. V. 112, p. 1866.
Interest. Outstanding. Maturity
STOOK AND BONDS- Date.
18.279.637 Oct'18. 1
Common $12,000,000($25)--- ----J
8,000.000 Oct'22, 1
Pref.6% cum.98,000,000(M
z
.
6 Q-1
5 J-D
4.210.000 June 1 194
First & ref M.115,000.000. gI igiz
($500 & $1,000) _c*&r*tf Fidelity Tr. C,o., Balt., Trus. Int. In N. Y
6,510,000 July 1 1923
Gen mtge 615,000,000 ($100, 1918 7 g J-J
$500 and $1,000) g___ _ctff Central Union Trust Co. of N. Y. Trustee.
8 g Q-F
One-year notes ($1,000 & $5.-( 1921
2,000,000 May 1 1922
ctf tFidellty Trust Co., Balt., Trustee.
000) gold
5 g A-0
Fairm & Clarksb 1st M. 32.-) 1903
2,500.000 Oct 1 1938
500.000 g ($1,000)--c*ntf f int. at Guaranty Trust Co., N. Y., Trustee
Stock.-Pref.stock is convertible into common stock, share for share. In
June 1917 the auth. capital stock was increased from $9,500.000 corn. and
$3.000,000 pref. to $12.000,000 corn. and $4,000.000 pref.; the par value
of the shares was changed from $100 to $25 each. and 6% pref. stock was
Issued in place of the 5% stock, the preferred shareholders being given the
right to convert their stock into 6% stock on the basis of 3 9-25 shares of
6% stock (par $25) for each share of 5% stock (par $100). V. 105. v. 290.
In May 1921 the auth. amount of 6% pref. stock was increased from
$4,000.000 to $8,000,000 and stockholders were given the right to subscribe
for $4,580,275 additional 6% pref. stock at $19 per share to the extent of
39.11% of their holdings. V. 112, p. 2083. Both the corn, and pref.
stocks are listed on the N. Y. Stock Exchange.
-Of the 1st (St ref.) bonds, $2,500,000 are reserved to retire prior
Bonds.
liens, $5,753,000 are deposited under the gen. mtge. and $2,250,000 are
for add'ns and ext's under certain restrictions. Red. at 105 and int. on
an7 int. day on or after June 1 1922. Tax refund. in Pa. See V. 102, p.
1346; V. 94, p. 1508. The gen. mtge. bonds are secured by pledge )f

O

of %:
)
bonds. L t,
000 t rl fef
ftnd 3 ,.727 1sth '
ofhe 'ar
5
1 Electric
:i711:
riml
71Pacan9)bonds are issuedand also3fwilltbeer.inarkunder the general
they
pledged
& ref.

FITCHBITRG, MASS.
FITCHBURG & LEOMINSTER STREET R Y.
In April 1905 absorbed the Leominster Shirley & Ayer Street Ry. through
V 80. p. 1478. In Sept. 1907 Mass,
ixchange of stock, share for share.
RR. Commission sanctioned Increase in stock from $450.000 to $700.000,
new stock to be issued at 110. Company then petitioned Commission to
allow stock to be issued at 100 (V. 85,p. 722) but in Sept. 1908 Commisdon denied application. V 87. p 812.
Rates.
-In Oct. 1918 filed with the Mass. P. S. Comm. a local and joint
class freight rate and mieimum tariff, increasing rates by about 25%.
Fares.
-In Nov. 1919 the co. filed a new tariff increasing fares from 7 to
10 cents, tickets from (Sh to 8 1-3 cents and 10-trip tickets from $1 to $1 25.
V. 109. p. 1986.
In May 1920, was auth. to issue 3225.000 of new 7% cum. pref. stock
(par $100), proceeds to be applied to the payment and cancellation of a like
amount of outstanding notes. V. 110. p. 1748. 2387.
Bonds Extended.
-In April 1921 we were informed that an extension for
5 years from Feb. 1 1921 of the maturity of the company's $300,000 consol.
mtge. 4 s and $100,000 1st Mtge. 5s of the Leominster Shirley & Ayer Si,
Ry., with interest at 7%, had been carried out. Compare V. 112, p. 469.
Interest. Outstanding. Maturity.
STOCK. BONDS,Sze.Date.
stock $700.000 ($100)
$450.000
See text.
7 F-A
300.000 Feb 1 1928
Fitch & Leo con mtge.$3501 1901
Int. at Boston Safe Dep.& Tr. Co. Trustee.
000 31.000)
7 g FA
L & A let mtge. 3100,000 1905
100.000 Feb 11926
c• Int. at Boston Safe Dep.& Tr. Co.. Trustee.
gold ($1.000)
Guar. p & i. by Fitch. & Leom Street By.
-For many years up to and incl. 1900-01.8%;since.8% p. a.
Dividends.
ROAD.
-Owns 41.51 miles of track. Road extends to Leominster.
Lunenburg. Shirley and Ayer. 31 closed passenger cars. 24 open passenger
ears. 3 express cars and 5 snow plows.
EARNINGS.
-For year ending Dec. 31 1920. gross. $542.997; net, after
taxes. $96 890; other income. $22; int.. &c.. $72.747; dim. $22.500; surplus. $1,665.
OFFICERS.-Pres., Supt. and Purch. Agent, W. W. Sargent; V.
-P.,
H. I. Wallace; Clerk and Counsel, C. F. Baker: Treas., R. N. Wallb3, all of
Fitchburg.
-V. 110, p. 1748, 2387; V. 111. p. 2423; V. 112. p. 469.

FORT DODGE, IOWA.
-See "Railroad and
FORT DODGE DES MOINES & SOUTHERN RR.
Industrial" section.

FORT SMITH, ARK.
FORT SMITH LIGHT & TRACTION CO
Standard Gas & Electric Co.. a holding company under the control of
H. M. Byllesby & Co.. Chicago. Ill., owns 1950.1100 corn.. $881.500 pref
stock, 3700.000 1st M.'bonds. and all the $1.100.000 2d M. 8s of the co.
As of Oct. 1 1922 the company had outstanding $345.030 promissory
notes, of which $250.000 were held by the Standard Gas & Electric Co.
ORGANIZATION.-Incorp. in Arkansas on April 13 1903 as a consolidation of the Ft. Smith-Van Buren Light & Transit Co. and the Ft. Smith
Traction, Light & Power Co. Owns all physical property, contracts, rights
and franchises of Van Buren Fuel & Light Co. (now dissolved). Guarantees, principal,interest and sinking fund,6400,000 Mississippi ValleyPower
Co. nest mtge.6% bonds, Series "A." V. 114. p. 2359. Owns and operates
the electric-light, gas and street railway properties in the city, and the
electric-light and gas business of Van Buren; operates an Interurban line
between Ft. Smith and Van Buren. In 1917 contracted to supply electricity to two public service corporations which supply towns, villages and
coal mines to the south and eat of Fort Smith. Operates under indeter,
minate permit, havinT sairrendered •,11 f” nehisas in 1919.
Fare Increase.
-Effective May 29 1922, the company was authorized by
the Arkansas Railroad Commission to increase fares from 6 to 7 cents each
V. 114, p. 2468. Also sells weekly pass for $1 25.
STOCK AND BONDS- Date
Interest. Outstanding. Marurtry
Common ($1OO)
$950.000
Pref. ($100)7% cum.
Q-J 15
1.410 000
See text
First mortgage $6.000.000 g( 1911
5 g M-S
2 940 0)0 Mar 1 1938
,
s f ($500 and $1.000)---c54 Int, at illinole Trust & Saving. Bank. Chic..
I Trustee, or at agency of co in N V. or Bos
Second mtge. $2.500.000 -__tf 1921
8 M-9
1.100.000 Sept. 1 1931
Stock una Bonds
.- Vref. stock Is red, at any time Atte, 3 years from issue
at 110 and accrued div. Remaining 1st M bonds can only be Issued tor
75% of cost of additions, improvements and extensions under certain restrIce,lons. See V. 92. p. 956 Subj. to call as a whole or in part on ans
let day at 105 and int. Cash sink. td. 01 1% yearly 1914 and 1915. 134%
yearly 1916 to 1918. 2% yearly 1919 to 1923 and such ratable amounts
thereafter as by July I 1935 will make total sic M In% of bonds eArtlfled
V. 92. p.956. $532.000 have been retired. 2d Mtge.8s were called at 105
% less (int.) each year thereafter.
and int. on or before Sept. 1 1922:
Conti. & Comml. Trust & Say. Bk.. Trustee.
Ditddenas.-Pref. is cum. trom Jan 1 1912. 1st div. on pref.-I)4%paid April 15 1910: July.
%: Oct.,1 % and 13(% quar.to and beim&
ng April 1913; none since.
-For years ending Dec. 31:
EARNINGS.
Net. aft. Tax. Int.Chgs.(Net) Balance.
Gross.
Calendar Year3239.339
3302.182
31,059.148
1921
sur.$62.843
227.039
sur.73.754
300,793
1.070,391
1920
ROAD.
-Owns and operates 33 miles of track on 12 streets in Fort
-lb. T rail. 48 cars.
-lb. and 80
Smith and suburbs. Standard gauge, 60
Also gas works tor distributing natural and artificial gas (artificial gas plant
is held In reserve) with 137 m. of mains, and electric power and lighting
plant-generating capacity, 8.643 horse-power and pole line of about 192
miles.
-Ps., H. M. Byllesby and F. C. GorOFFICERS.-Pres.. A. S. Huey; V.
-P. & Mgr., D. C. Green; Sec., Aud. & Treas.. R. D. Beard; Gen.
don; V.
-V. 112, p. 257; V. 113. p.
Mgrs., Byllesby Eng. Sz Mgt. corp.. Chicago.
730, 1155; V. 114, p. 2359, 2468.

1st
mortgage and no additional Kanawha Trac. & Elec. 1st & ref. mtge. bonds
,
may be issued (except for refunding underlying bonds) unless pledged
under the general mortgage. $113.000 gen. mtge. bonds have been retired
by sink. fund. Additional gen. mtge. bonds may be issued for 75% of the
cash cost of eat's, add'ns and impts. under certain conditions. A depletion
charge of 20c. per gross ton of coal mined and 3c. per 1,000 cu. ft. of natural
gas sold is to be included in operating expenses, these amounts to be paid
into a sinking fund for the purchase or red, of gen. mtge. bonds. The co. also
covenants to expend or reserve annually for deprec. & maint. a sum Pqual to
.
20% of ry. gross earnings & 15% of gross earnings from the sale of electricity
The $1,000 bonds may be registered as to principal. Red. all or part on
4 weeks' notice at 101 and int. Int. payable in New York or Baltimore.
V. 107, p. 1004. Fairmont & Clarksburg 1st mtge. bonds subject to call
at 105 and Int. Listed on Philadelphia Stock Exchange.
-The 1-yr. notes are exchangeable at 100 and int, any time before
Notes.
maturity or redemption into gen. mtge. 7% bonds upon the following terms.
If, as and when additional bonds are issued: prior to Nov. 15 1921 at 97;4
and int.; and thereafter at 98 and int. A sinking fund of $20,000 July 1
and Aug. 1 1921 and $25,000 each month from Sept. 1 1921 to April 1 1922
was applicable to the purchase of these notes at not exceeding 100 and int,
is provided for. Red. all or in part at 100 and int. any time upon 30 days'
notice
-5% was paid on the pref. stock to June 30 1917, when the
Dividends.
div rate was changed to 6%. Same rate has been paid quer. since to
and incl. Oct. 1922. See remarks above. Initial dividend on common
-2%-paid Jan. 1913; July 1913, 1% %; Oct., 1%%. In 1914, Mar.,
13i %; July. 13i%. In 1915, none. In 1916, 4%. In Jan. 1917 paid
1% cash and an extra dividend of 6% in common stock; April. 15(%:
July, 1j% regular, and in Aug. an extra dividend of 1 X %; Oct.. 13i %.
In 1918. 5%. None since.
-For year ending Dec. 31 (19?0 report mV.112. p. 1962)
EARNINGS.
Fixed Chgs. Surplus,
Net.
Gross. Exp.et Taxes.
Year15.922,244 14,054.397 $1,867.847 3955.192 1912.655
1920
782;687
3,021.017
1,397,682
4.418.700
614.995
1919
Total surplus Dec. 31 1920 after deducting pref. divs., 3200,966, $50.000
transferred to mtge. insurance fund reserve and $120,551 for adjustments
was $1.129,484.
-Operates (excit.sive of Kanawha Traction & Electric Co..
ROAD.
which see under "Parkersburg. W. Va.") street railways in Fairmont.
W. Va., and in Clarksburg W. Va. and an interurban line of 25 miles
connecting the two with various small branch lines; also lines from Fairmont to Fairview, 14 m.; Clarksburg to Bridgeport, 7.6m.; Fairmont to
mannington, 17 miles, and Clarksburg to Weston, 24 m.; total track in
operation, 116.57 miles. An extension from O'Neil to Wolf Summit,
placed in operation on July 12 1917. Standard gauge.
FORT WAYNE, IND.
24 miles, was rail. The co 5. electric properties comprise 3 stations with
T
80 and 85-1b. capacity of 42.000 h. is., which is to be further Increased by
INDIANA SERVICE CORP.an tr
ORGANIZATION.-Incorp in Indiana on Jan. 16 1920 to take over the
p. unit now being installed.
an additional 27,000 h.
-Chairman of Board. Jas. 0. Watson; Pres., G. M. Alex- Ft. Wayne & Northern Indiana Trac Co. as per plan outlined in this Section
OFFICERS.
E. B. of April 24 1920. Formal transfer of the property was made on April 28
-P.. Smith Hood; Sec. & Treas.. Walton Miller Gen.
ander; V.
-V.112 p. 2083. 2101. 2414: V. 113. p.183, 2185. 1920. V. 110. p.2192. The Ft. Wayne & Northern Indiana Trac. Co. (for
Mgr..
Moore: Aud.. O. F. Lough.
history see "Electric Railway" Supplement of April 24 1920) was successor
2116, 2718, 2823; V. 115, p. 436, 869.
V. 114, p.
to the Pt. Wayne & Wabash Valley Traction Co., which had previously
acquired through consolidation or purchase the following companies:
NORTH DAKOTA.
FARGO,
Pt. Wayne Marion & Bluffton Tr.Co. Lafayette Street Ry.
NORTHERN STATES POWER CO.-FARGOsMOORHEAD DI- Ft. Wayne El. Lt. & Power Co.
Logansport Railway Co.
RAILWAY).
Logans. Roch. & Nor. Trac. Co.
VISION (STREET -Fargo & Moorhead Street Ry. was incorporated Ft. Wayne & Southw. Trac. Co.
ORGANIZATION.
Ft. Wayne Traction 00.
Wabash-Logansport Traction Co.
North Dakota. In April 1916 Northern States Power Lafayette & Logansport Trac. Co.
Wabash River raction On
July 19 1902 in of the physical property. See V. 102, p.1441. 1543. In
moorhead
Also owns Fort Wayne Power Co. and W thash Valley Utility Co.
Co. acquired all -year franchises were granted in Fargo.
and
25
the United Tractions Coal Co.. which owns
Owns a one-fourth
June 1912 new
cal. year 1921. 6151,322. Operates in and leases valuable interest in to insure the
for .
coal lands
Dilworth. Gross earnings
company an adequate supply of
Minn.. and an interurban to Dilworth,
Fargo. N. D.. and Moorhead, Standard gauge. 70-1b. T rail. General coal (see Shirley Realty Co. of Indiana in V. 104, p. 1805)•
Operates under an indeterminate permit from the Ind. P. S. Comm.
Minn.. a total of 15.841 miles.
Chicago. III. V. 107. P. 604.
,
M
anagers, Byllesby Eng. & Mgt. Corp..

1
,




48

ELECTRIC RAILWAYS

[Vol,. 115.

On Mar. 1 1922 the property of the Lafayette Service Co.
ROAD.
-Subsidiary companies operate 165.14 miles of track, standard
order of the Federal Court on petition of the Real Estate Trust was sold by
Co.,
Trustee, for the 3225.000 Lafayette St. Ry. 1st M. 5%% bonds. Phila.. gauge; 281 passenger, 32 trail and 16 other cars. In July 1916 completed
See V. an 1,800 ft. viaduct over the steam roads entering Union Depot
114. p. 1063. under caption "Lafayette Service Co." The
in Dallas.
the Lafayette St. Ry. 1st M.5%s distributed the proceeds ofcommittee for Power station has capacity of 10,800 k. w.; also purchases power from the
the
being paid to the holders of each 31.000 bond. V. 114, p. 1533. sale, $6.50 Dallas Power & Light Co.
The purOFFICE RS.-Pres., C. F. W. Wetterer: Sec., George A. Peirce; Treas.,
'chasers of the property were. in April 1922. organizing a new
company to Henry B. Sawyer; Gen. Mgrs., Stone & Webster Mgt. Assn.,
take over the line. V. 114, p. 1651. No further information.
Boston.
V. 110, p. 2292, 2488; V. Ill, p. 1852* V. 112. p. 745.
Fare Increase -On Sept 15 1920 was auth. by the Ind. P. S.
Comm. to
Increase fares on the Ft Wayne city lines to 7 cents cash or 4 tickets
cents. In June 1921 the Comm. auth. the co. to continue these for 25
FOSTORIA, OHIO.
rates
Indefinitely. V. 112,p. 2414. A weekly pass is sold for $1. In
FOSTORIA & FREMONT RAILWAY
was auth. by the Ind. P. S. Comm. to increase passenger fares Oct. 1920
ORGANIZATION.-Incorp. In Ohio In CO.
to 3 cents
1909. Ownership is largely
per mile. V. 111, p. 1472.
represented by Interests identified with the Lake Shore Electric Ry. Co.
and Western Ohio Ry. Co. Besides passenger business, does a freight
STOCK AND BONDSand
Date.
'Interest. Outstanding. Maturity express business and handles coal
for use by Ohio State Power Co. at
Common $3,740.200
$2150800
Fremont.
Pref *2.159.800(non-cum)____
7%
2.159 800
Fares.
-In July 1918 was auth. by the Ohio P. S. Comm. to increase
Prior preference
1,500.000
passenger fares to 3
-cents per mile. V. 107., p. 401. Compare V. 107.
1st & ref M bonds
1920
5%
4.807,603 Jan. 1 1950 p. 82.
Adjustment mortgage boucle 1 1920
See text
4,797,600
STOCK AND BONDS- Date.
Interest' Outstanding. Maturity.
(non-cum) $6.000,000
Oorn stock, $200.000 ($100)_
Ft W M & B 1st M $400,0001 1905
$200.000
5 g J-J
400,000 July 1 1935
gold ($1.000) guar p & I_ tf I Int at Guar. Tr. & S. D. Co., Phila., trustee Pre(' stock $200.000 ($100)200.000
See text
First mtge $250,000 ($1.000)1 1910
5 A-0
Ft Wayne Power Co mort- l 1907
85.000 Oct 1 1930
5 M-N
18,200 Nov. 1 1937
gold
c*f Int. at Cleveland (0.) Trust Co.. trustee.
gage
tf!Int. at Guar. Tr. & S. D. Co., Phila., trustee
Bonds.
-Normal Federal income tax paid at source.
Ft Wayne Tr mtge $1,500,-) 1899
4 g A-0
5,000 Oct 1 1929
Dividends.
000 gold (31.0001
esti ant. at Guard. Tr. Co., Cleveland, trustee Dec., 6%. -Paid a dividend of 3% on pref. stock in Jan. 1913. In 1917.
In 1918, Dec., 3%. in 1919, Dec., 3%. In 1920. Dec..
Series "A" ($1,000)
5 F-A
6%•
2.000
In 1921. Dec.. 6%•
See text
Series "B ($1,000 each) _ tf
5 M-S
1,000
See text
EAR N1NGS.-For years ending Dec. 31:
Series "(J"
10 000
See text
12 MonthsGross. Nel.aft.Taxes. Int. Depr.Res.
Ind. Serv. car tr. "A"($1,000) ---Surplus.
6%
110,000
See text
1921
$100.718
$ 6.407
35,903
Ind Sent car trust set* "B"____
$1,221
$9.283
J-J
175,000
See text 1920
124.290
32,176
6,437
1,221
Stock.
-The pref stock is preferred as to assets and dive., but is non-cum
ROAD,&0.-21.38 miles of electric interurban railway on private 24.518
Bonds.
-In addition to the 1st & ref M.5s reported outstanding, S467,700 of-way, connecting
rightFostoria and Fremont. Forms the connecting link
are reserved to retire a like amount of underlying liens and $405,700
are between the Western Ohio Ry., Toledo Fostoria & Findlay Ry. and Lake
held in the treasury The int on the adjus mtge. bonds is payable semi- Shore
Electric Ry., all of which use the line under traffic contracts.
ann. if earned (non-cum.). and no int. shall be paid unless earned in
OFFICERS.-Pres., F. D. Carpenter. Lima, Ohlo.-V. 107, p. 82.
excess
of proper prior charges. The maximum Interest rate was fixed as follows•
40.
for 1920, 3%, per annum: for 1921 3%: 1922 49':1923. 57 1924 and
0:
each
y_ear thereafter, 6. An initial payment of 3% was made Oct.
%
FRESNO, CAL.
1 1921.
V. 113, p. 1471. The holders will be entitled to
SAN JOAQUIN LIGHT & POWER CORP.
board after 1923 if the int. is not earned and paid forrepresentation on the
ORGANIZA
-Incorporated In California on July 19,1910 as
Redeemable, all or in part, at par and int. on any int.a period of two years. soli laden of TION.
date.
the San Joaquin Light & Power Co.,the Power Transit & a conThe Penn. Co. for [weir. on Lives & Granting Annuities is trustee
Light
of Co. (Bakersfield) and the Merced Falls Gas & Electric Co. Absorbed the
Ft. W.& N. I. Trac. car trusts. Series "A" mature $2,000 each Feb
and Selma Water Works, Madera Water Works. Madera Lt. & Pow. Co., Lem$3.000 each Aug. to Feb 1923. Series"B" mature $1,000 s.-a. to March
15 More Lt. & Power Corp. and Bakersfield Gas & Elec. Lt. Co. controls
1923. Tri-State Loan & Trust Co.. Ft. Wayne, trustee Series "0," which through stock
ownership the Tule River Co., having plants on the Tule
mature 32.000 March, June, Sept. and Dec. 1. Ind. Service car trusts River, Cal.
The Midland Counties Public Service Corporation (V. 98.
Ser. "A" mature $5.000 quarterly. Tri-State Loan & Trust Co.
Ser. "B" p. 1849), controlled in same interest, purchases all of Its power from the
mature $12,500 June 1 and Dec. 1. Int. at First Nat. Bank, Fort
Wayne. San Joaquin Light & Power Corporation. In Feb. 1919 it was
ROAD.
-Operates 201.69 miles of track, connecting Fort Wayne, that the Midland Counties Public Service Corp. would consolidate reported
Huntington, Wabash, Peru, Logansport, Delphi and Bluffton; also local San Joaquin Light & Power Corporation in the near future. V.with the
108. p.
lines in Fort Wayne, Wabash, Peru and Logansport. At
.
Logansport, 880. In Feb. 1920, however, theMidland Counties Pub Sere.Corp. withPeru, Wabash and Bluffton connection is made for Indianapolis
oy.ir drew its petition for auth. to carry out this consolidation. V. 110. p.
the tracks of Indiana Union Traction Co. In May 1906 began
through 562. Franchises In cities are perpetual; outside of cities, with two excepservice between Fort Wayne and Indianapolis over
tions, extend beyond 1950. About one-hall' the total length of
Co. of Indiana. See V. 82. p. 1101. Rails. 60. 70.tracks of Union Traction sion lines is on private right of way. Supplies electricity for transmislighting,
72,80 and 90
-lb. Owns power
1 power house. Owns 163 passenger cars and 63 other cars.
and pumping purposes throughout the San Joaquin Valley, including
REPORT.
-Present company began operations in Jan. 1920. Figures the cities of Merced, Madera, Fresno, Selma, Hanford, Bakersfield
Sanger, Dinuba and about 50 towns and small cities; population
for previous periods are results of predecessor company:
about 500.000. Distributes gas in Bakersfield, Kern, Merced and served.
Calendar
Gross
Selma;
Expenses
Net
Balance,
Year-Revenues. and Taxes. Revenues. Interest. Sur. or Del operates a street railway system in Bakersfield and Kern and furnishes
1921
$2.8)2.341 $2.269.915 $612.426 $451.782 sur.3160.644 water for domestic purposes in Selma and Madera.
Rate Increases.
-On April 22 1918 was auth. by the Cal. RR. Comm. to
1920
2,968,067
2,436.064
532.003
485,134
sur.46.869 put into effect a new schedule of power and lighting
1919
2.548.485
1,999.193
549,292 x601,762
def.52.470 1918 was with. to put into effect a surcharge of 10%. rates. On May 28
In Feb. 1919 auth.
to add a surcharge of 15% to all bills was granted by the Calif. RR.Comm.
x Includes all int. on bonds although receiver paid int. on only
a few V. 105 p 685
underlying issues.
Power Development.
-See V. 114, p. 1652.
OFFICE RS.-Pres.. Robert M. Feustel; V.
On Feb. 25 1921 it was voted to increase the auth. capital stock
Greenland; Sec. & Treas., H. E. Vordermark, Ft -P. & Gen. Mgr., S. W 000.000
to $75.Wayne.
-V.111, P. 1369,
7% prior pref., $25,000.000 6% pref. and $50.000.000 common.
1472; V. 112, P. 1024, 2414; V 113. p. 1360, 1471.
stock. V. 112. p. 1025.
In Mar. 1921 the co. brought out 37,000.000 unif. & ref. mtge. 7%
bonds,
$2 000 000 of the proceeds being used to refund a like amount of 6% debenFORT WORTH, TEXAS.
tures (V. 112, p. 1867), the remaining 35,000.000 being used to retire
floating debt and to pay for additions, imptov'ts, &c. V. 112, p.
NORTHERN TEXAS ELECTRIC CO.
-A holding company.
1025. ID
Oct. 1921 an additional $2,000,000 of this issue
Of the common stock, $500,000 is owned by Pub. Service Invest. Co.
debt incurred for construction, &c. V. 113, p.was sold to refund floating
ORGANIZATION.
-Incorporated in Maine Nov. 16 1905 and owns the
In Jan. 1922 issued $3.000.000 7% prior pref.1675.
stock
entire stock and participating bonds of the Northern Texas Traction Co., unifying & ref. mtge. 7s, due March 1 1922. to retire to refund $400.000
which does all the electric-railway business In Fort Worth and operates
provide additional working capital. V. 114, p 411. floating debt and to.
an
interurban line between that city and Dallas, 35 miles and the
In March 1922 issued $3,500.000 unit. &
stock of the Tarrant County Traction Co. (name changed from Pt.capital to provide in part for the redemption of ref. mtge.6% bonds, Series "B,"
Southern Traction Co. In 1914). which operates a line between Fort Worth bonds and for additions and improvemen$2,625,000 Series "D" 8% cony.
ts. V. 114, p. 1652, 1892
Worth
and Cleburne. Tex.. 31 miles. It is proposed to extend the line from
STOCK AND BONDSDate.
Interest. Outstanding.
viaturity.
Cleburne to Denton the rights of the Fort Worth-Denton Interurban Co. Common S50.000.000
($100)$11.000.000
saving been acquired. V. 99. p. 121. 122. Also owns the capital stock of Pref. $25 000.000($100)6%cum.
-M i5
6.500.000 Sept'22 13.4,
the Arlington Light & Power Co., which does the electric light and power. Prior pref 375.000 000 7%cum. ___
_
Q-M15
5,017.500 Sept'22. 1 fi
Ice and wake business in Arlington Tex. Enters Dallas over its own 1st & ref mtge 32.5.000.000 gI 1610
5-6 F-A
22.171,000 Aug
tracks. See V 89 p. %II
Ras leased for 20 years from Dec. 17 1915 the
($1.000) sink fund _c*Szr*tf(Equit. Tr. Co., N. Y., trus : int. in 1 1950
N. Y.
terminal facilities of the Maim Interurban Terminal Assn. which see under Unify & ref mtge $l50.000.1921
7
8.600.000 See text
Dallas Railway Co. on a preceding page. In 1917 leased (with the right 000 (3500 & 31.000)_c*Str*tf Equitable M-S 1
,
Trust. Co.. N. Y.. trustee.
to purchase for $2,000.000) the Oak Cliff line to the Dallas Ry. at an annual Series 'B"
1922
3.500,000 Mar 1 1952
.
rental of $115.000 for first 3 years. $120,000 for fourth year. $125,000 for San Joaquin L & P Co let rt5 1905 66 g M-S
J-D
2.500.000 June 1 1940
fifth year, $135.000 for sixth year and $150.1)00 thereafter.
$3.000.0008 f(31.000)c•ntf Redeemable at 110 and interest
Franchises of Northern Texas Trac. 0o. In Fort Worth expire in 1973; in San Joaquin Power Co . __nt __„
10.000 Dec. 1 1942
Dallas in 1937; others about 1950; has private right-of-way outside of Power Trans & Lt M $2.500_ 1903 5%
58.000 June 1 1933
5 g J-D
cities. Tarrant Count) Traction Company in Fort Worth and Cleburne
,
000 gold (*1.000) _
tf Mercantile Trust Co..San Francisco, trustee
expire In 1936; between these cities has private right-of-way except In Bakersfield k Kern Elec Ryl 1901 5 g J-J
26.000 July 1 1931
towns &c.. In which cases its rights expire In 1961. V. 92. p. 1243. Road
$250.000 gold 41.000) ntfl ulon Trust (Jo.. San Francisco. trustee.
was completed in Aug. 1912 and began operation in Sept. 1912. Franchise
Bonds.
-Of the let & ref bonds of 1910 reported outstanding. $1.500.000
In Arlington expires In 1949.
($1.325.000 held by public, $8.000 repurchased by the co and $167,000
Valuation of Northern Texas Traction Co.
-See V. 112, p. 745. for details. held alive in sink fund) are Series A Rs: $799,000 are series B bearing 5%,
On Feb. 24 1913 increased auth. pref. stock from $4,500,000 to $5,000.. and S2,125,000 are Ser. B, bearing 6%,and S17.747.000 areSer.C.
000 and the corn. from $2,500,000 to $5.000,000 (V.96, p. 488, 654), and 829,000 1st & Ref. M. bonds are reserved to retire prior liens(id. 6s. $2.holders of both classes of stock were given the right to subscribe for $650,000 held in or for sinking funds), 36,422,000 are pledged under the $191.000
unif. & ref.
new common stock at par. V 96. p. 790.
mtge. ser."A" 7% bonds and remainder of bonds may be
In Nov. 1917 the co. announced an increase in passenger rates from about exceeding 6% interest for additions, impts., &c., at 75% issued at not
4
23 cents to about 21 cents per mile to cover Federal taxes and increased certain restrictions. Series 'A" callable at 102%, others of cost under
at 105. Tax
Effective May 10 1920. fares were increased from 5 to 6 exempt in California. First and refunding mortgage
costs of operation
contains sinking
cents. V. 110, p. 2292. On Oct. 22 1920 fares were increased to 7 cents. fund provisions calling for payments of $145,000 annually
(to
V. 111. p 1852. In Feb. 1921 the Northern Texas Trac. Co. announced partly for betterments and additions and partly for redemption be used
an increase of 33 1-3% in interurban fares. The minimum charge was Series "A" bonds having preference over other series) from of bonds.
1915-1919:
raised from 5 cents to 12 cents. V. 112, p. 745.
$150,000 annually from 1920-1924 and ranging thereafter from
23.4%
annually of bonds out from August 1925-1929, incl., to , % annually
STOCK AND BONDS- Date.
Interest. Outstanding.LastDiv.cic
lli
Common $5,000,000 ($100)
Q-M
$3,150.000 Sept.'22.2% from August 1945-1949, inclusive. V. 91, p. 1332. By a supplementary
mortgage1. holders of Series "B" 5s were permitted to exchange
Pref 6% n-c $5,000,000 ($100)
M &S
4.000.000 Sept.'22 3% Series"
them for
.
B 6s upon payment of $100 per bond up to May 31 1917.
Coll trust M $10,000,000 gold 1910
3,386,000 Jan 1 1940
5 g J-J
Of the
sink fund (see text)c.&r* tf f Int. at Commonwealth Tr. Co., Bost., Trust S8.600.000 outstanding Series" A"7% unify. & ref. mtge. bonds,32,000,000
mature serially $400,000 each Mar. 1 1923 to 1926, incl., while
No Tex Tree 1st M 32.500,0001 1903
2,500,000 Jan 1 1933
5 g J-J
the remaining
41,000) gold-no sinking Int. at Citizens' Say.& Tr. Co., Ciev.. True S7.000.000 are due Mar. 1 1951. Additional bonds are issuable under
certain restrictions for 75% of cost of new construction,
fund
_Ott
or at Chase Nat. Bank, New York.
&c. Sinking
fund commences Mar. 1 1927 of 2% of the largest amount of bonds then
Car trust certificates
82,483
-The pref. stock is redeemable at 110. V. 94. p. 1449. Both outstanding, plus any which may subsequently be issued, incl. all underlying
Stock.
and divisional bonds. The bonds due 1951 are red. on any int. date on
classes of stock are listed on the Boston Stock Exchange.
Bonds.
-Of the coll, trust bonds. $2,500,000 are reserved to retire North 30 days' notice at 1073.4 and int. to and incl. Mar. 1 1931 and at 105 and
ern Texas Traction let M. bonds: $374.000 have been retired. Coupon int. thereafter. The unit. & ref. mtge. bonds Series "B" are not subject
to call. V. 114, p. 1652. Int. payable at office of trustee, N. Y. Union
bonds are In denom. of $1,000; registered bonds, $1,000, $5,000 and Trust
Co., San Francisco, and Union Bank & Trust Co.,
$10.000. Callable as a whole or In part,for sink. fd only,at 105 and int. on V. 112,
Los Angeles.
p. 1025.
any hit. date. Sinking fund of 1% of bonds out began Nov. 11911. Bonds
are secured by deposit of all the stock of the North. Texas Trac. Co. V. 90. byOf the $2,500,000 San Joanuin Lt.& Pow.Co. 1st 5s, $30,000 are held
co. for
p. 373. 1239. The Northern Texas Traction Co. bonds are subject to call Transit & sink. fd. purposes and 341.000 alive in sink. fd. IN7,000 Power
Light Co. 5s in addition to the amount reported outstanding
as a whole on any Interest day at 105 and interest.
are held alive in sink. fd. $97,000 Bakersfield & Kern Elec. Ry. 1st 5s are
DIVIDENDS.
-First div. on pref. (1%) paid March 1 1906 and 2% held in sink. fund (in addition to those reported as outstanding).
Sept. 1 1906; since, 6% per annum. First dividend on common stock
Dividends.
-Paid
in 1914,
on
1912:
2%, paid Sept. 1 1909; in 1910, 55v70: in 1911 and 1912. 6%; in 1913 none to June 1917. 43.4 % 1%pref. stock in 1 % in 1913. 6%; Initial 39';
when
div.
% was paid:
% quar. since.
63.4%: In 1914. 7%; in 1915 43
4%; in 1916 and 1917 4%. Tn
3
of 1 4% paid on prior pref. stock in Dec. 1920, same rate qua". since.
6%; in 1919, 4%; in 1920, 8%; in 1921, 8%; in 1922, March, 2%; June,
RE PO RT.-For
ass
years:
2%; Sept., 2%.
Calendar
Gross
Other
Int. Charges
Net
EARNINGS.
-Of combined companies for 12 months ending Juno 30:
Y
Earnings.
Earnings. Income.
(Net).
sBuaSrpl,eYearGross. Net(aft.Tax )0th Inc. Interest. Skg. Fds.
Surnlus
1921
$5.595.112 $3.087.537 $155.334 $1,612,175 $1,630,696
1921-22__ _33.207,311 $1,000,732 $123,750 $301,456
1$823.020 1920
4,340,096
2,239,922
1,451.003
9 19
920,813
131,894
1920-21__- 3,892,281 1,231,104 118,750 303,003
,046,850
3.292.963
1,096,049
163.246
513.510
745.785




OCT., 1922.]

49

ELECTRIC RAILWAYS

operates
-The co. owns power plants with 167,200 k.w.;3,566 m.
PROPERTY.
and
1,062 miles of high-tension transmission lines, 37 sub-stations 161 miles of
50,000 acre feet,
of distributing lines. Reservoir capacity, railway track in Bakersfield,
gas mains. Operates 10.51 miles street
supplemented by automobile bus lines in outlying territory.
nt & SecreOFFICE RS.-Presiden , W. G. Kerckhoff; Vice-Preside
-Ps., A. G. Wishon, A. C. Balch and Ben R.
tary, L. M. Farnham; V.
E. Peat; Gen. Mgr., E. A. Wishon.-V. 112.
Meyer; Treas. & Comp.. A.
V. 114, P. 307,
p. 653. 850, 1025, 1273. 1308. 1867, 2538; V. 113. p. 1675;
411. 739. 855. 1892.

-Of the combined companies for 12 mos. ending June 30:
EARNINGS.
Surplus..
Net,aft.Taxes. Int.,&c. Sink.Funds.
YearGross.
$354,078
$440,818
$794,896
1921-22__ _53,453,652
700,298
424.309
1.124,607
1920-2L.._ 3,927,858
ROAD.
-Operates 166.6 miles single track; standard gauge; 277 passenger. 5 trailers and 24 other cars. Power stations have capac. of 6,582 k.w.'
-P., Harry H. Hunt: Sec.,
OFFICERS.-Pres., 0. F. W. Wetterer; V.
Geo. A. Pierce; Treas., Henry B. Sawyer; Gen. Mgrs., Stone & Webster
Mgt. Assn.
-V. 109. p. 172. 1079; V. Ill. p. 188.2140; V. 112, p. 161. 744.
849, 1143; V. 114, p. 305, 1651, 2011, 2823.

GARY, IND.
-A trolley road.
GARY STREET RAILWAY CORPORATION.
FRESNO TRACTION CO.
plan
In 1910 Southern Pacific assumed control and owns all the stock except
ORGANIZATION.-Incorp.in Feb. 1918 in Va., per reorganization
directors' shares.
in V. 106, p. 1230. Owns the entire $365,500 common stock of the Gary
1917), the operating company. sucFresno
ORGANIZATION.-Incorp. in Cal. Sept. 22 1903. Leases the In Jan. St. Ry.Co.(incorp. in Indiana, Sept.26 East Chicago Ry.Co..sold at foreRy.and
City Ry. Purchases power from San Joaquin Light & Power Co. Coun- cessor to the Gary & Interurban p. 1309.
closure Sept. 18 1917. V. 105,
1922 the company was granted a 50-year franchise by the Fresno City
-A contract dated Sept. 6
-Guaranty.
Contract with Calumet Electric Co.
cil. The ordinance gives the city the right to purchase the road at ten-year
n of $50,000 In cash, and
intervals, payment to be based on value of the property at time the option 1917. as amended, provides that in consideratio for a period of five years
-year debentures
its guaranty of the Int, on the 20
78, 2115; V. 115, p. 73.
is exercised. V. 114,
1927- (which guaranty is secured
p'
In Dec. 1916 the Cal. RR. Comm. auth. the co. to sell $49,597 bonds for from Oct. 1 1917-extended to Oci. 1 of the Calumet Electric Co.. being
by deposit of$125,000first mtge. bonds
cite. (not Incl. in amounts reported outstanding).
Calumet Electric Co. shall
-In Sept. 1918 was auth. by the Calif. RR. Comm. to increase one-half of the present outstanding issue), the 1 19271 to redeem or pay
Fares.
5 to 6 cents and commutation rates by 10%. V. 107. p. 1192. have an option for five years [extended to Oct. thereupon to receive all
fares from
all of said debentures and
at par and interest
Interest. Outstanding. Maturity
STOCK AND BONDS- Date.
of the common stock of the corporation. The Electric Co. is further
$5.000.000
lo have a renewal for five years of its contract for the furnishing of power
Stock $5,000.000--($100)699,000 July 1 1944 to the properties, and, in the meantime, will control the management
5 J-J
1904
First mortgage, $5.000.0001
stock
c.ntf(int. at Union Trust Co.. San Fran.. Trustee
($1,000). gold
through a voting trust agreement under which all of the common whom
Bonds.-Frosno Trac. 1st M. bonds have a sinking fund commencing in of the corporation is to be deposited with three voting trustees, of bondyears and increasing 82.500 per annum one shall be a representative of the old Gary & Interurban Railway
1909 of $2,500 per annum for first 5
-year period thereafter to $17.500 per annum from 1939 to 1943. holder and the other two of the Cilumet Electric Co. In case the
for each 5
,
1927.
Electric Co. shall not redeem all of the debentures on or before Oct. 1
thereon.
COMBINED EARNINGS.-Incl. Fresno City Ry.:
or in case it shall default on its guaranty of the payment of int. ratably
Balance
Interest,
Other
Net (after
Gross
Cal.
then the common stock of the corporation shall be distributed
Income. Rentals. &c. Deficit
Taxes).
Earnings.
Yearstrust certificates.
$121,986 def.$55,825 among the bondholders of the voting
elec$11,224
$54,937.
$403,865
1921
(The Calumet Electric Co. Is an Indiana corp. and secures all its and
113,705 def.151,777
11,988
299,262 def.50,063
1920
from the Public Service Co. of Northern Illinois, selling
tric power
-Mileage operated (Incl. 8.14 miles leased from Fresne City Hy.)
ROAD.
Chicago and Gary districts.
distributing the same in the Hammond, East
45.013 miles. Also owns 8,51 miles of single-track operated oy Southern
co. was auth. by the Ind. P. S. Comm. to in-In Aug.
Fares.
-lb. "T" rail. 31 electric motor passenger, crease fares from 6 1920 the8 cents in Gary. Hammond and East Chicago.
Pacific Co. Standard-gauge, 75
cents to
and 1 electric locomotive.
3 work cars: 2 trailers.
raised from 20 cents to 24c.
-P., Paul Shoup; V. 111, p. 493. Fares between these cities were
to reduce
OFFICERS.-Pres- W. F. Herrin. San Francisco; V.
In Aug. 1922 the Ind. P. S. Comm. authorized the company
-ride
Sec. & Aud. H. A. Olulloden, Los Angeles; Gen. Mgr., F. W. Webster, fares from Gary to East Chicago from 16 cents to 10 cents under a 50
Fresno; Treals., M.S. Wade, Los Angeles; Asst. Sec. G. L. King, San ticket plan, tickets to be good for 90 days. V. 114, p. 2579.
'
-V. 107. p. 1192; V. 114, p. 78, 2115; V. 115, p. 73.
Francisco.
the Ind. P. S. Comm. authorized the company to issue
In July 1922
-year 5% First Mtge. bonds at not less than 75%. V. 115, P•
$110,000 20
645, 1321.
Interest. Outstanding. Maturity'
STOCK AND BONDS.- Date.
GADSDEN, ALA.
Gary Street Ry. Corp.
Common $800,000 ($100)--------$800,000
ALABAMA CITY GADSDEN & ATTALLA RAILWAY.
72.500
On Jan. 12 1921 the company sold all its property to the klabama Power Pref6% non-cum $72.500(3100)
Gary Street RI,. Co.Co., which see in "Railway and Industrial" Section.
365.000
Pref6% non-cu 3365,000(3100)
504.500 Oct 1 1937
5 g A-0
First Mtge bonds 82.500,0001 1917
($1oo.$500 and $1,000)___1Central Trust Co.of Ill. and Wm.T.Abbott.
( trustees.
GALVESTON, TEXAS.
800,000 Oct 1 1937
5 g A-0
Debentures $800,000 gold I 1917
Trustee.
-A holding company.
(3100. $500 and $1.000)___(New York Trust Co.. the auth. amounts
GALVESTON-HOUSTON ELECTRIC CO.
-Preferred stock of both cos. is limited to par on 30 days' noStock.
May 8 1907. Controls mentioned above. Both issues are red, as a whole at
ORGANIZATION.-Incorp. in Maine on
Gary Street Ry. Co. of Ind.
through ownership of stock the Galveston Electric Co. and the Houston tice. Dividends on the common stock of the to 810,000 per annum.
Elec. Co.. which companies do the entire electric railway and part of the are limited during the life of the voting trust
Gary Street Ry. Corp. (except
-All the common stock of
Voting Trust.
electric lighting and power business in Galveston and the entire electric
agreement for five years to
By..
railway business in Houston. Also owns stock or Galv.-Hous. Elec.guar- directors' shares) was held under a voting trust to Oct. 1 1927. Trustees
and
Oct. 1 1922, but agreement has been extended
an Interurban road between Galveston and Houston, 50 miles, In
1950. in are Mortimer N. Buckner, Frank J. Baker and Charles W. Chase.
I. and s. f. Franchises expire in Galveston
antees its bonds.
-Remaining let M. bonds may be issued for additions. ext•ns and
The Interurban is on private right-of-way. $500,000
Bonds.
Houston. 1951. p..
and track
Service Investment Co.
!mots. for not over 85% of cash cost of same, and for repavingof the cash
SM.stock is owned by Public
On Oct. 4 1921 a proposed service-at-cost franchise for the Houston renewals necessitated by public orders, for not more than 90%
a subsidiary, was defeated. V. 113. p. 1674. Compare cost of same under certain restrictions. Callable at 105. trust agreement
Electric Co..
effective Jan. I
Debentures.-Int. on dabs. Is guar. during life of voting
V. 113. p. 292. In Nov. 1921, however, a new ordinancefor a
being secured
1922 was passed by the Houston City Council, providing 2311.7-cent cash by endorsement by the Calumet Electric Co., said guaranty par and int.
2405. See by pledge of $125,000 of that co.'s 1st M. bonds. Red. at
for $1. over a trial period. V. 113, p.
fare with 20 tickets
Co. applied to the on 30 days' notice. The co. covenants, among other things not to permit
also V. 114. p. 1179. In Sept. 1922 the Houston Electric
First Mtge.
from 7 to 9 cents.
Houston City Council for authority to increase faresof Galveston passed any lien upon the property ahead of the debentures except the
and to expend or set aside annually for maintenance and to offset depreciaV. 115, P. 1631. In June 1922 the City Commii.sion
For tion 14% of gross earnings:
an ordinance governing the operation of street railways in that city.
Years end. Dec. 31-emos.end.
details see V. 114, P. 2823.
1918. Dec.31'17.
1919.
1920.
1921.
-On April 10 1922 the U. S. Supreme Court upheld the
EARNINGS.Fare Decision.
$755,188 8878,588 $526.574 $385,579 $181.333
reduction of fares in Galveston from 6 cents to 5 cents. V. 114, p. 1651, Gross earnings
42,95
195,925 93.589 83.715
Net, after taxes
153,165
2011.
-See V 111. p 2140: also V. 112, p. 849.
Valuation.
ROAD.
-Operates 25 miles in Gary and between Gary and Hammond
Harbor. Ind.
1922 issued 81,700,000 7% secured notes ser. A,to provide for the Ind., and a 10
In Jan.
-mile line between Gary and Indiana
and to provide
retirement of31,500,000 3-yr. 7% sec. notes due Mar. 1 1922,
-Of Gary St. Ry. Corp.-Pres.. Frank J. Baker, Chicago
OFFICERS.
working capital. V. 114, p. 305.
-P., Chas. W. Chase, Gary, Ind.; Sec., R. M. Scheidt, Gary, Ind.
V.
Date. Interest. Outstanding. Last Die.ctc. Treas., F. M. Kemp, Gary, Ind.
BONDSSTOOK AND
See text
Chas
M-13 15 $3.988.000
Common.$5,000,000 it100)--Of Gary St. Ry. Co. (Operating Co.).-Pres., 0. W.111. p.
OFFICERS.
Sept'22 3%
MS 15 3.000.000
-V.
all of Gary, Ind.
Prel$4,000.0006% cum ($100)
May 1 1940 Treas., F. M. Kemp; Sec., R. M. Scheidt;
5 g M-N 1.215.000
1905
1321.
Galv Electric let M $2,5001 Co.,Boston, Trus- 493; V. 113, p. 1052; V. 114, p. 2579: V. 115, p. 645,
Trust
000 gold ($1.000)----c*tf Int. at Old Colony
tee.or at company's agency in New York.
GARY &.VALPARAISO RAILWAY CO.
Oct. 1 1954
b g A-0 2,737,500
Galv-Flous El By 1st M $5.- 1909
-Incorporated in Indiana on Nov. 19 1917 with
ORGANIZATION.
c*Szr tt Int. at Old Colony Tr. Co., BOel., Trustee.
000.000g guar
Aug. 1 1925 authorized capital stock of $10.000 to operate the lines of the Gary Connect1900 5 g P-A 1,475,000
Houe Elec Co let M $2.500.Trust Co., Bost.. Trustee
ing RR., and the Valparaiso & Northern Ry., which were sold under fore000 g ($1,000) sk fd__c*tf Int. at Internat.
See text Aug 1 1925 closure Sept. 18 1917. See also V. 112. p. 1977. Operates the former
7%
1922
Gen mtge bonds
2,125,000 Aug. 1 1925 property under a 20-year lease and owns and operates the latter.
-A
1922 7 g F
Sec. notes ser."A"$3,500,000 Commonwealth Trust Co., Boston, Trustee.
-Chairman Stacy 0. Mosser;.
Committee for Valparaiso et Nor. 1st M.5s.
($500 & $1,000) gold__ tfc*
253,000 Feb. 1 1926 Walter J. Cummings, William J. Henry, Wm. T. Abbott; Sec. & Oounsel.
8 g F-A
Coupon notes ($100,$600 andj 1921
409.
Trust Co., trustee.
Security Bldg., Gary. Ind. V. 114. P. the following
Chas. W. Chase, 18
c*.tf. Guardian
$1.000) gold
266,989
On Jan. 31 1922 the above committee add at auction 1st M.bonds
Oar trust certificates
120 and accum. div. Both pref. and corn. securities of the Gary & Valparaiso Ry.:(a) $47,000 20-yr.6% . (b) 862,Stock.-Pret. Is callable at
dated Jan. 1 1922 [total issued $67,000;[total auth., 81,000,0001
are lilted on Boston Stock Exchange
Jan. 1 1922 [total auth.
for additions
bonds
-Of the bonds, $1,026,000 reserved A sinkingfund 400 20-yr. 6% Adjust. income M. . pref.dated [total auth. & outstdg.,
Galveston Electric Co.
stock
8259.000 have been canceled.
$78.0001. (c) 356.000 6% non-cum
and impts.at 80% of cost and
& outstdg, 370,0001. V. 114.
in 370.0001. (d)$56.000 corn. stock [total auth.
1
of 1)4% of bonds certified began July at1906. Callable as a whole or
110 and int. on 30 days' notice. p.409. kii the above securities were issued under auth. of Ind.P.S. Comm.
part for sinldng fund on any int. date
in payment for the property.
975.
after
-For year ending Dec. 31 1921, gross, $130,557; net,
EARNINGS.
$26.000
Galveston-Houston Electric Ry.-Of the remaining bonds. reserved are taxes, $14,912. In 1920, gross, $117,254; net, after taxes, $6,460.
for
$2,000,000 are
held in trust for benefit of company and have been
through Woodvine Junction to Val"
Denom.:
canceled.
-Extends from Chesterton
ROAD.
acquisitions and improvements; $246,500 and $5.000. Subject to call
from Woodville Junction to Gary. 16 miles
coupon, $500 and $1,000; registered. $1.000 sinking fund, at 105 and Int. paraiso, 12 miles (owned), and
(leased-see above). Total mileage operated, 28 miles.
on any interest day in whole, or in part for
thereafter 1 4%. First five pay-P., W. J. Henry; Sec.. R. M.
OFFIOERS.-Pres., Chas. W. Chase; V.
[finking fund of 15? of bonds GO 1944; Int. and sinking fund. by Galv.-V. 112. p. 257. 1977; V. 114, p. 409.
Scheidt; Treas., F. M. Kemp.
ments walvable. Bonds are guar.,prin..
.
Hous. Elec. Co. See V 90. D. 697 but not any part, can be called on
-Entire issue,
Houston Electric Co.
fund of 1 4% of bonds outstandGENEVA, N. Y.
any int. date at 1074 and int. Sinking 74.p. 680. $1,625,000 of bonds
ing. payable on Aug. 1 each year. See V.
GENEVA SENECA FALLS & AUBURN RAILROAD CO.. INC.
this fund on Aug. 31 1922.
not outstanding was held by
property of the three operating
ORGANIZATION.-Incorp. May 28 1913 as successor of the Geneva &
-Are a lien on all the$2.040.000: the entire outittand.
Gen. Mtge. Bonds.
Auburn Ry. sold at foreclosure March 14 1913. Public Sere. Commission
cos.. subj. to underlying 1st mtge. bonds. 7% notes. Set. "A."
authorized the sale of 8524.000 bonds at not less than 85. V. 97. p. 298. 13
the secured
trig amount are pledged under
-Effective Sept. 1 1920 was auth. by the N. Y. P.
Fare Increase.
a direct obligation of company and
-The secured 7% notes are Gen. Mtge. 7% bonds of the three Comm.to increase fares in Geneva from 6 cents to 8 cents. V.111. p. 1278
Notes.
are secured by pledge of $2,040.000 underlying first mtge. bonds may be
Interest. Outstanding. Maturity.
STOCK AND BONDS- Date.
3157.100
operating companies. No additional
.
outstanding. Additional notes may be Stock $200.000
504.000 July 1 1943
issued, while any of these notes are
1913
5%
$1,200 of Gen. Mtge. bonds. Bonds. 8524.000by
issued only if each 81000 note is secured
and int. prior to Aug. 1
-For years ending Dec. 31:
EARNINGS.
time, on 30 days' notice at 101 at 100 and int. thereRed. as a whole, any
Gross. Net,aft.Taxes. Deduc. Bal..Def.
Years- •
Feb. 11925;and
Calendar
1923; at 100% and int, thereafter to
813,426
$48,194
trustee and at the offices of Lee,
$104,508
after to maturity. Int. payable at office of 114.)0,305. The 8% coupon 1921
2,543
47.799
45.256
127,288
V.
Higginson & Co. In N. Y. and Chicago. than 850.000 on any int. date at 1920
-Extends from (3131103VII to Cayuga Lake Park through Waterloo
notes are callable in amounts of not less
ROAD.
Feb. 11924; at 100% before
101% on or before Feb. 11923' at 101 beforep. 1143. $27,600 are held in and Seneca Falls. Length of main tracks 16.31 miles; sidings. .819 mile;
Feb. 1 1925, and at 100 thereafter. V. 112,
miscellaneous, .36 mile: total. 17.489 miles. Rails. 70. 80. 90 and 100-1b.
treasury.
Sept. 1909 to and I% track standard gauge. R. Quay, Pittsburgh, Pa.; Sec., L. G. Hoskins,
S.
-On common, 14% semi-ann. from in Sept. 1912. In
DIVIDEND
OFFICERS.-Pres.. R.
Shirley, Waterloo.
Purch. Agt.. W
incl. Mar. 1912, amount then increased and paid 2%
in Mar. 1914 to 3 4%: Geneva, N. Y.; Sunt., Treas. &
Mar. 1913 Increased to 24% in Sent. to 3% and omitted.(V.101.p.846.
-V.96. p. 1629; V. 97. p. 298; V. 111, p. 1278.
N. Y.
%.Sept.1915 div.
fle1)S..13%%. In 1915,Mar..334




50

ELECTRIC RAILWAYS

GIRARD, PA.
CLEVELAND & ERIE RAILWAY CO.

Receirership.—On Sept. 20 1920 A. 0. Chapin, Erie,
Pa., was appointed
risaelyer for the co. V. 111, p. 1277.
Receirer's Certificates.—In May 1922 the receiver
applied for auth. to
issue not exceeding 811,000 receiver's certificate
purchase power from the Northwestern Elect'ic s, proceeds to be used to
Co. V. 114, p. 2115.
Operations Discontinued.—We are
tinued operations on Sept. 16 1922. officially advised that the co. disconORGANIZATION.—Incorporated in June
neaut & Erie Traction Co., sold at foreclosur1909. Is successor to Cone.
bonds and leases the Conneaut & Erie Traction Owns all the stock and
0,
1.99 miles of track. Franchises are for 999 years. . of Ohio, which owns
STOCK AND BONDS.— Date.
Interest. Outstanding. Maturity.
Stock.8300,000.
$300.000
First mtge. $800,000. gold) 1909
5 J-J
500,000 July 1 192
($250 and $500)
_c'Int. at
Phila., trustee
Income bonds $500.000 ($2501 1909 Fidelity Trust
5 July
500.000 July 1 192E
Co..
and $500)
!Int. at Fidelity Trust Co.. Phila.. trustee
Bonds.—Remaining first mortgage bonds are reserved
for extensions
betterments. &c. They are subject to call at 105
notice. Int, on income bonds is only payable if and int. on 3 months
earned, and is non-cum
They are subject to call at par. Bonds have no
sinking fund. No interest
has been paid on incomes.
EARNINGS.—For years ending Dec. 31:
Gross
Net
Other
Jut..Taxes
Year— Earnings. Earnings. Income. & Rentals. Depr. & Balance.
Replace. Deficit.
1921
3153.047
89.690 81.54888.425
82.814
1920
151,776 df24.862
1.640
29,909
53,132
Pass. carried during year end. Dec. 31 1921,
529;006; in 1920, 559,146.
ROAD.—Owns 31.29 miles of track. Operates
between Conneaut and
Erie. Standard gauge; 65-lb. rail; 8 passenger
and 6 other cars.
OFFICERS.—Receiver, A. 0. Chapin, Erie, Pa.; Mgr.
for Receiver.
J. M. Smith. Girard. Pa.—V. 111. p. 1277;
V. 114. p. 2115.

GIRARDVILLE, PA.
SCHUYLKILL RAILWAY CO.

[VOL. 115.

(1) Schuylkill Traction Co.—A trolley road.
ORGANIZATION.—Chartered Sept.
Motor Traction Act of March 22 1887. 26 1892. In perpetuity, under the
Road opened June 1
/an. 8 1893 leased for 999 years the Mattanoy City Shenandoah 1893. On
& Ashland Street Ry. On Oct. 5 1893 leased for 999 years Girard villa
the Ashland
Locustdaie & Centralia Elec. Ry. Owns all the stock of these two
roads.
which is pledged under the first mortgage
On April 27 1900 leased for 999
years the Lakeside Ry.. which connects the
routes from Mahanoy City to Shenandoah and two ends of the company'D
purchased 2.600 of the 5.000
shares of the capital stock. On Jan. 24 1901 leased the Shenando
ah dr
Pottsville Street Ry. (13 miles) for
and bought all of its capital stock.999 years (incorporated Aug. 1 1900),
The Lakeside Shenandoah & Pottsville stock is pledged under consol. mtge.
Plan of Reorganization.—See Schuylkill Ry. Co. above.
Default.—See Schuylkill Ry. Co. above.
STOCK & BONDS—Miles. Date.
Interest. Outstanding. Maturity
tat M.8500.000. g.$5001224 1893
5 g A-0
8500,000 April 1 1949
& $1.000
[Int. at Cont.-Equit. T.& T. Co., Trustee, Phila.
tat M. Lakeside By, g.1 54 1893
4 g M-N
150.000 Nov 1 1923
$150.000, guard by Int. at Cont.-Equit. T. & T. Co:, Philadelp
hia,
Schuylkill Traction
Trustee.
New consol mtge. seet____ 1901
41.4 g
105.000 July
text ($1.000), g__..c*JInterest at Fidelity Trust Co., Phila.. 1 1951
Trustee.
Power-house mortgage _
5.000
Bands.—The 1st M. bonds of 1893 may be purchased for sink, fund
as
105. Sinking fund of $10.000 per annum began April 1
1918 the trustee brought suit for an accounting of net profits1898. In June
from operation
of the properties under the mtge. and asked for the payment
of 810,000 or
rich part thereof as can be determined to be due, with interest,
for each
soar from April 12 1905 In which net profits were earned, in accordanc
e
with the sink, fund provisions. Auth. amount of consol.
mtge. was 82,000.000. but mtge. has been closed with $105,000 out. Of the
bonds $38,000 are held in the treasury. Subject to call at 105 outstanding
and
Siikino fund of 1% of bonds out became operative Aug. 1 1907. interest,
ROA D.—Schuyikill Traction Division. 224 miles of track,
beginning at
Locustdale, thence through Ashland. Holmesville
Girardvtli
there a Y. one branch running through Lost Creek to Shenando e, forming
to
ah and
other branch to Malzeville. Gliberton and Mahanoy City. Lakeside the
miles. Total, 28 miles. 60 and 70
-lb. T rail. Extension
miles proposed and charters obtained. Operates 51 motor cars. s of 43
4 work
cars and 2 snow sweepers.—V. 80. p. 1729.

Reorganization Plan.—On June
tion was presented to the holders10 1918 the following plan of reorganizaof the $640,000 1st Consol. 5s by Pres•
GLOVERSVILLE, N. Y.
Powell Evans, Phila., who is the owner and
tial majority of the Consol. 5% bonds and holder personally of a substanFONDA JOHNSTOWN & GLOVERSVILLE RR. CO.—Steam and
of various amounts of the other
issues included in the plan. The plan is
subject to the decision of the court electric road.—See statement In "Railway and Industrial" Section.
in the co.'s pending litigation concernin
g its obligation to pay Schuylkill
Trac. Co. let M. 5s and the effect of an adverse
decision therein. For detailed outline of the plan see V. 107,
GRAND RAPIDS, MICH.
p. 1920.
(a) The lease of the Schuylkill County Ely. The provisions are as follows.
COMMONWEALTH POWER. RAILWAY & LIGHT CO.
(b) The Schuylkill Ry. Co. to purchase to remain in effect.
from me the entire issue of
Schuylkill County Ry. Co. stock (which I own),
ORGANIZATION.—Incorporated in Maine Feb. 19
pledge of the stock as security for the income subject only to the primary the plan outlined in V. 90, p. 108, 447, for amalgama1910 to carry out
ting certain gas,
(c) Holders of 8640,000 Consol. 5T bonds bonds. (See below.)
o
to return to the co.'s treasury electric light, power and street railway entermises in Michigan.
(waiving their rights therein until this is
Controls through stock ownership the following companies:
gether with all unpaid interest, &c., said done) 25% of their par value, to- Commonwe
alth Power Corp., a hold- Michigan United Rys. Co.
ing to 8160,000, to be held in the treasuryone-fourth of said bonds, amounting company controlling:
to provide for future betterments
Saginaw-Bay City By. Co. [not opand (or) extensions.
Consumers' Power Co.
erating in April 1922].
(d) The Schuylkill Ry. Co. to pay out of net
Central Illinois Light Co.
operating income current
Grand Rapids Holland & Chic. By.
Interest and obligations equally (except as
Illinois Power Co.
temporarily under (e)) on:
Union Ry., Gas & Electric Co., a
Principal.
Southern Indiana Gas & El. Co.
Existing Bonds (Consols Reduced as Aforesaid)—
holding company controlling:
Interest
$760,000 underlying let & 2d M. bonds on system
Springfield (O.) Lt. Ht. & Pow.Co.
Rockford & Interurban By. Co.
$36,025 Grand Rapids By.
375.000 Schuylkill County Ely. Co. let M. bonds proper
Janesville Traction Co.
18.750 Micnigan RR. Co.
480,000 75% of outstanding $640.000 5% Consol.
DeKalb-Syeamore & 11 t. By. Co.
bonds
24,000
On Dec, 31 1919 constituent companies had outstanding in hands
$1,615,000 Total bonds secured by Mtge.
of
Total interest, $78,775 the public $76,673,500 bonds and $15.567.400 preferred stock.
332.000 Existing Car Trust Certificates, principal
On May 15 1913 the company acquired (through exchange
of new stock
due in installments ($4.000 semi-ann.) (with interest)
on basis shown in V.96. p. 1296) the outstanding capital
stock of the
Also interest on any expenditures on new capital
supplied for betterments Ry., Gas & Elec. Co. and the Springfield (O.) Light Co. (V. 96. p.Union
required for the proper operation of the entire railway
1298)
and the Michigan Rys. Co. In July 1917 purchased
Also annually before any payment on Income bonds system.
a three-quarter interan amount at least est and in Jan. 1919 the remaining one-quarter interest in a coal mine in
equal to 2% of all outstanding Schuylkill County
Ry. Co. bonds as a sinking Logan Co.. W. Va. V. 105, p. 606. Late in 1917 purchased coal lands
fund, but annually not less than
Illinois.
$5,000 In In
(e) The Schuylkill Ry. Co. to issue 8600,000
May 1922 the ownership of all the controlled electric
light, power and
gas cos. was grouped into the Commonwealth
150,000 to retire Income bonds of like amountNew Income bonds, viz.:
now outstanding;
of the com. and pref. stock of the latter being Power Corp. (see below) all
160.000 to replace the scaling of Schuylkill Ry. Co.5%
owned by the co. either diConsols.
rectly or through a subsidiary. V. 114,
275.000 for purchase of entire capital stock of Schuylkill
Co. Ry. Co.
Loan lig War Finance Corp.—Paid off in p. 2240.
15.000 to pay pro rata the past due unpaid dividends
June 1922. See V. 114, p. 9717.
In June 1919 brought out an issue of $750.000
the preferred stock of Lakeside Railway Co. on 2.400 shares of
proceeds being used in part in the refunding of secured serial 6% notes.
—it being understood that all the said Schuylkill County
purchased shall be held primarily as collateral for said Ry. Co. stock as the Grand Rapids fly. Co. due June 1 1919 (see$3.700.000 let M. Sc of
that company on subseIncome bonds
quent page). V. 108. p. '
2433.
(f) All distributable net income above that needed
All the
charges enumerated in clause d herein, except as to to pay minimum fixed payment outstanding 7% sec. cony. bonds due May 1 1923 were called for
8480,000 5%
on which 50% of interest is to be paid currently for surrender Consols, sale of July 7 1922 at 101 and int. and retired through the proceeds of the
$12.500,000 25-year 6% sec. bonds of the Commonwealth
ed coupons
from the time this agreement takes effect, to be employed
Power
Corp. (see below).
to carry
reduction of bank loans, current bills payable and accounts payable out the from the proceeds Bank indebtedness due Nov. 1 1922 is also to be paid
of the Power Corp. bonds and
(thereby
releasing the 878,000 of Consols now serving as collateral)
until not more need this indebtedness from the table below. V.we have therefore elimithan 810,000 remain unpaid, whereupon all current interest
114, p. 2240.
1922 Pres. Geo. C. Hardy stated:"Within a short time 2579.
of Consols shall be paid to the full extent of said net income. on $480,000 to In May to the
we expect
submit
stockhold
a plan for
(0) The $78.000 of Consols released under clause f above to be sold new and scrip into pref. stock ers Commonwe the conversion of their prof. stock
of
alth Power Corp., the detailt of
Co me (at 75 as above) for all my said claims against the
company, and to which plan are now being considered." V. 114, p. 2240.
be subject to reduction as provided in clause c hereof.
STOCK AND BONDS—
Date.
(it) Any net profits distributable after taxes, interest charges
Interest. Outstanding. Illaturity•
charges stated in clauses d and f above. maintenance, &c., have and other Common ($100)
Q-F
$18.585.900
See text
been
to be distributed to holders of Income bonds on an equal percentag paid, Preferred UM cum)($100) ___
See text
e basis Sured serial notes 82,000,-i 1919 Q-F M-N 1 17.953.000
ec
until they have received 6% (without any arrears being due
g
7
1,222,500
See text
000(8100.$500&81,000)g c* Detroit Trust Co., Detroit. 00 s Ttext
prior to any net profits being distributed to stockholders. or cumulative)
ti0 Mich., rustee.
Secured serial notes 8750.0001, 1919 6 R J-D
(i) Provisions hereunder to apply to various securities named
herein
($100, UN & $1,000) g__c* Brooklyn Trust Co., New York, trustee.
other than 1st and 2d M. prior liens and Car Trust Certificates
of their last interest or dividend periods prior to Jan. 1 1918. from dates
1918
6%
984.188 Feb. 1 1924
respectively. Serip
(f) Upon consummation of all the provisions I and
1919
1,094.912 Feb. 1 1925
6%
Scrip
to release to the company all other interest held by me all parties hereto are 8ciP
p
1920
6%
1.099.486 Feb. 1 1926
and in every other capacity—leaving the company, and them personally Scrip
--1921
311,880 Feb. 1 1927
on the basis above
described, with only nominal current obligation
Stock.—Preferred stock is redeemable at 105 and accrued dividends.
the above
fixed charges and provision for distribution of s, with income. minimum
Notes.—The secured serial 6% notes mature 8100,000 annually Juno 1
its net
It was the intent of this offer that either the said plan
1923 and 8350.000 Juno 11924. Are secured by pledge
the proceedings for said reorganization by foreclosure was to be initiated or issue) gen. mtge. 5-year 6% bonds of the Grand Rapids of 81,200,000(entire
Ry.
1
from Sept. 30 1918. In April 1922 we were informed begun within one year 1924. Red., all or in part, any time upon 30 days' notice Co., duo June
that the plan had not
at 101 and int.
yet been consummated.
Interest payable in N. Y. Tax refundable in Penn. V. 108, p. 2433.
All assenting Consols, together with all stock (if any) held
by the deposi- The secured serial 7% notes mature $250,000 each May 1 to 1923, and
tors of Consols, to be deposited with the Commonwealth
Title Insurance & $1,000,000 on May 1 1924. $750,000 have been retired and 827,500 are
Trust Co. of Philadelphia, as depositary. V. 107. p.
held in treasury. Secured by pledge of 84,000,000 Michigan RR.gen. mtge.
1920.
6s, due May 11924. Red. at 101 and int. on 30 days' notice. Int. payable
ORGANIZATION.—Incorporated In Pennsylvania on
purchased the property of the Schuylkill Traction Co. July 20 1903 and in New York.
and the Lakeside
Dividends.—Quar. dive, of 14% on pref. have been paid since organizaRy. Co. V. 80,p. 1729. Leases the Schuylkill County By.
Co.
tion. The Feb. 1918 div. was paid in 6% scrip dated
Interest.—Int. due Oct. 1 1919 on the Schuylkill Traction
1st Mtge. 5s on or before Feb. 1 1924. Divs. at the same rate wereFeb. 1 1918 and due
of 1943 was paid Dec. 31 1919. In April 1922 we were
paid in similar scrip
advised that subsequent coupons were in default. The Oct.
None since .
and subsequent coupons to and incl. Feb. 1921.quarterly to and First div. on common-1%—paid
May 1 1913; same rate
on the Schuylkill By. 1st consol. 5s of 1935 1 1919default.
incl. Nov. 1917. Feb. 1918 diviare in
V. 111, p. 1950. dend was passed. V. 106, p. 498. None since.
Sale Proposed.—See V. 109, p,1462.
Fares.—Effective Oct. 1 1920 zone fares were raised from 5 cents
Combined Earnings of Subsidiary Companies Year end. Dec. 31.
to 6 cents
cash and from 6 tickets for 25 cents to 20 for $1.
Interest, x Preferred
Net (after
Year—
Dividends.
Tax. &Alain.)
&e.
Gross.
STOCK AND BONDS—
Surplus.
Date.
Interest. Outstanding. Maturity
1921
331,309.
Stock, $400.000 ($50)------959 $10,443,807 $7,527.859 $1,077,180 $1,838,768
$400,000
------31,285,981
8,894.683 7,020,765 1,077,180
1920
First consul mtge.$1,450,000,) 1905
797,738
5 g A-0
640.000 April 1 1935
gold ($500 and $1.000)_ _OfInt. at Fidelity Trust Co.. Phila.. Trustee
x Divs. on pref. stock accumulated and unpaid since Feb. 1 1921.
Income bonds
1913
5 J-J
150.000 Jan. 11944
Series B
PROPERTY, &c.—Through its constituent companies, owns and oper16,500
Bonds.—Of the remaining first consol. bonds. $760.000 are reserved to ates electric railways serving 100 cities and towns with over 887 m of single
track; revenue pass. carried during year end. Dec. 31 1921. 92.5-16,857;
retire the underlying liens in statement below and $50,000 are in treasury.
electric light and power companies serving 160 cities and towns with sales
Are subject to call at par and interest.
during the year ended Dec. 31 1921 of 419.112.678 k.w.h.; 21 hydroEARNINGS.—For year ending Dec. 31 1921, toss, $581,828; net, electric plants and 20 steam electric plants with an installed capacity of
after taxes, $13,983. In 1920, gross, 8425,207; net, after taxes,
882,059 265.000 h. p., high-tension transmission lines aggregating 1,450 muss
In 1919, gross, $337,261; net, 841,420: income deduction
s, 8116,263; bal., in length; gas companies serving 15 cities. with sales during the year ending
def., 874,842.
Dec 31 1921 of 3.574.274.400 cubic feet; miles of gas mains, 1.030.60.
OFFICERS.—Pres., Geo. E. Hardy* V.
-Ps., C. M. Clark. Phila, John
OFFICERS.—Pres., Powell Evans, Phila.; V.
-I's., Jas. D. Evans and
Thos. Evans, Phila.; Sec. & Treas., C. E. Hanna, Phila.; Gen. Mgr., C. Weadock, B. C. Cobb and Jacob Ilekma: Sec.. G. H. Bourne; Treas..
Geo. Sprague Jr.; Cornpt., H. G. Kessler.—V. 111, p. 1848. 1851; V. 112,
C. Sims Bailey, Girar dville; Aud., J. Scott Pardoe.—V. 109,
p. 1700; p. 372, 1739, 2536; V. 113, p. 416, 531, 729, 1982, 2405; V. 114, p. 305,
V. 111, p._1950.
1178, 2240, 2579, 2717; V. 115, p. 305, 992




OCT., 1922.]

ELECTRIC RAILWAYS

51

the table. V. 101, p. 369. In Jan. 1916 acquired the Cadillac Water &
Lt. Co. and the electric property of the Manistee Power & Light Co.
-In Jan. 1920 a plan for the amalgamation of the MichiAmalgamation.
gan Light Co. with this co. was put into effect. Under this plan the holders
of both the corn, and pref. stocks of the former co. exchanged their holdings
(par for par) for stock of the latter. This was done in order to enable the
cos, to obtain necessary capital for their respective needs. V. 110. p. 261.
In Oct. 1922 brought out $14,000.000 1st lien & unifying mtge.5% bonds,
Ser. "C," proceeds being used to retire $11,545,000 funded debt bearing
7% int. (incl. $5,045,000 Ser. "A" and $4.000,000 Ser. "B" gen. & ref.
mtge. bonds and $2,457,000 serial debentures; these issues have been eliminated from the table below), to acquire new property and for improvements. V. 115, p. 1842.
-V.111, p. 1282.
Sale of Preferred Stock to Customers.
Interest. Outstanding, Maturity.
STOCK AND BONDS- Date.
$16,175,900
Common $20,000.000 ($100)12,903.300 July'22.134
Q-.1
Pref $20.000.000
(3100)6%cum -1
,
3,215,000 July'22, 13
7%
Preferred stock 7% cumulative ____
22,254,000 Jan. 1 1938
5 g J-J
ref M,$35,0001 1911
1st lien and
000, gold ($1,000)____c*tf Int. at Harris Tr. & Say. Bk., Chicago.
Trustee, or Harris, Forbes & Co.. N. Y.
1st lien & unifying mtge Series 1922 5 g M-N 14,000,000 Nov. 1 1952
& $1;000c*: National City Bank, N. Y., trustee.
'C"($100.$500
'
$1,000, $5,000, $10,000 r*)
Central Illinois Light Co.
tf J
gold
2,500,000 Jan 1 1923
Peoria Gas & Elec Co 1st mtgel 1903 5 J-J
2,582,000 Mar 1 1948
Mich. Light 1st & ref. M gold! 1916 5 M-8
$2,500,000 g ($1,000)_c*tf Bankers Trust Co., New York, Trustee.
and $100)_c*liJnion Trust Co., Detroit, Trustee.
($1,000. $500
Cent Ill Lt 1st & ref mtge) 1913 5-6-73 g A-0 8,113.000 April 1 1943
493,500 Nov. 1 1924
Flint Gas Co 1st M.3500,0001 1904 5 M-N
Bankers Trust Co., New York, Trustee.
$15,000,000 ($100, $500,
c*
($500 & $1,000)_ _ _ _c*n tfIInt. at Mich. Tr. Co.. Grd. Rap.. Trustee,
$1,000
340.000 April 1 1937
5 A-0
Jackson Gas Co mtge. $3504 1897
-now Southern Indiana Gas 8e Elec. Co.
Public Utilities Co.
000 gold (31,000)___c*ntf'Illinois Trust & Say. Bank, Chic., Trustee.
3,169,000 Jan 1 1929
Public Utilities Co 1st & ref) 1919 6 g J-J
179,000 Jan 1 1927
.
Pontiac Light Co consol mtgef 1902 5 .1-.T
mtge $15.000.000 (3100, Bankers Trust Co., New York, Trustee.
$230,000 g ($1,000)_ _c*tflInt. at Mich. Trust Co., Grd. Rap..Trustee.
$500 & $1,000) gold_ _ -c*tf
1,078,000 Dec 1 1924
5 J-D
Comm Pow 1st M. $4.000,-J 1904
335,000 April 1 1942
Public Utilities debentures_ ___ 1913 6%
000 g sink fd ($1.000)_c*tflInt. at First Trust& Say. Bk.,Chic.. Trustee
Southern Ind G & 1st lien & 1921 ”i g A-0 1200,000 April 1 1941
474,000 Mar 1 1931
5 M-S
ref M ser"A" ($100. $500 Interest at National City Bank, New York, Ord Rap-Musk Pow 1st M J 1906 1st TraitS.B., Chic., or lstN.B.X.y.
tflInt. at
$7,500,000, gold
Trustee.
& $1,000c* & $1,000 &
117,000 Sept 1 1925
$5,000 r* gold)
& Lt 1st MI 1905 5 M-8
Cadillac Water
lint. at Michigan Trust Co.. Gd. Rapids. Tr.
(closed)
2,211,400 Jan '22,3%
6 J-J
So Ind G & E 6% pf$2,211,400 cm
465,500
do do 7% pref $2,788,600
Stock.-Pref.8% stock is red. at 105 and accr. div. Amount reported as
250,000 April 1 1923 outstanding includes $33,700 reserved to retire a like amount of Mich.
Evansv & Prince 1st rntgef 1903 5 B A-0
$400,000 gold ($1,000)sink- Int. at Cit. Say. & Tr. Co., Cleve., Trustee, Light pref. stock.
or at First National Bank, New York.
c&r_tf
ing fund
-Of 1st & ref. bonds, sufficient are reserved to retire underlying
Bonds.
1,160,000 June 1 1932 bonds, and remainder is reserved under certain restrictions for extensions
Evansv Gas & El Lt 1st & refi 1902 5 J-D
and add'ns at 80% of cost. In addition to the amount reported as outmortgage $1,250,000 gold Int. at Cont. & Corn. Tr. & Say. Bk., Chic
unifying bonds. Subi.
Trustee, or at First Nat. Bk., New York. standing $5.327,000 are pledged under the 1st lien &p. a. of bonds out began
c*_tf
($1,000)
day at 105 & int. Sink,fund of 1%
3,085,000 June 1 1933 to call any int.V. 92, p. 465, 526, 1458. Up to April 1 1920 no bonds were
5%
Illinois Pow Co 1st M Ser"A"_ 1921
Jan. 11915.
1,915,000 Dec 1 1936 held in sinking fund. The 1st lien & unifying bonds are secured by pledge
7%
1921
Series B
Listed separately further below.
Consumers Power Co
of $5,327,000 1st lien & ref. mtge. bonds and $2,512,500 Michigan Light
Springfield Lt lit & Pow Co_ _ _Listed separately further below.
Co. 1st & ref. mtge. bonds. Ser."C" 1st lien & unify. mtge. 5s are red, all
on any int. date on 30 days' notice at 105 on or before Nov. 1
held either directly or indirectly or in part
-All the common & pref, stock is
Stock.
1932; at 104 thereafter to and incl. Nov. 11937: at 103 thereafter to and
(through subsidiary) by Commonwealth Power. Ry. & Lt. Co.
incl. Nov. 1 1942; at 102 thereafter,to and incl. Nov. 1 1947; and at 101.
less than 1% of all
Bonds.
-The 25-yr, secured sink. fd. 6% bonds dated May 15 1922 are thereafter prior to maturity. Sinking fund of notcommences May 1under1923.
lying and 1st lien & unify. bonds outstanding
secured by pledge of the following stocks:
Tax exempt in Michigan.
-mills tax refundable.
Penna. and Conn. 4
Corn. Stock. Pref, Stock. Tot.Par Val. V. 115, p. 1842.
Company$15,425,900
$1,380,000 Michigan Light 1st & ref. M. bonds are reserved to retire
Consumers Power Co.(a Maine corp.)$15,425,900
2
- 12,1566 7,272,000 prior liens. In addition to the amount reported as outstanding, $2,512,500
Cent. ill. Lt. Co.(an Illinois corp.)__ 5,000,000 s2, 7 1,775,000 4,675,000 are pledged under the 1st lien & unifying bonds. Additional bonds
Illinois Power Co.(an Illinois corp.)_ _ 2,900.000
may be issued for 75% of cash cost of permanent extensions, &c., under
Southern Indiana Gas & Electric Co.
1,271,500 4,271,500 conservative restrictions. Red. at 105 and int. on any int, date on 30
3,000,000
(an Indiana corp.)
days' notice; tax-exempt in Michigan. V. 102, p.613,890. Jackson bonds
The Springfield Light, Heat & Power
1,000,000
1,000,000 are red. at 110 & int. Pontiac and Flint issues are red. at 105 & int.
Co.(an Ohio corn.)
.Y
int. on Jackson Gas Co. bonds is payable at Hodenpyl, Hardy & Co.,N Y.
$27,325,900 $5.318.500 $32,644,400
stocks pledged
Total
Dividends on preferred have been paid regularly since organization.
All of the above shares are $100 par value; the common shares represent
-Of combined cos. for 12 months ending Dec. 31:
EARNINGS.
the entire outstanding issues of common stock of the respective companies.
Charges. Bal., Surp.
Gross, Exp.. Tax..ete. Net.
YearAre red. upon 30 days' notice all or in part by lot at 105 & int. on or before 1921
$14,073,293 $8,373,276 35.700,017 $2,358,558 $3,341.458
May 15 1927, with the call, price reduced Li of 1% for each year thereafter. 1920
4.321,817 2,112,959 2,208,857
9,835.636
14.157,453
Sinking fund began Aug. 15 1922. Int. payable in New York or Chicago.
-Owns and operates electric light and power properPROPERTY.
Penna. and Conn.4-mill tax and Mass, income tax (existing at time of issue)
refunded. V. 114, p. 2246. Listed on New York and Boston stock ex- ties in Grand Rapids, Kalamazoo. Jackson, Flint, Saginaw, Bay City.
Pontiac. Battle Creek, Muskegon, Cadillac, Owosso, Manistee, Marshall.
changes. V. 114, p. 2364; V. 115, p. 649. 1537.
Albion, Charlotte. Grand Ledge, Allegan, and a number of intermediate
-Central Illinois Lida bonds are red, cities and towns. Hydro-electric plants have about 101.000 h. p. and steam
Central Illinois Light Co. Securities.
at 105 and accrued int. on 60 days' notice. $4,410,000 bear 5% hit.. plants about 101.000 h. p. capacity. Total generating capacity about
$2,750,000 bear 6% and $1,053,000 bear 7%% int. Remaining bonds are 202.000 h. p.
reserved for acquisition of new property, additions, impts., &c., under cer-P., E. W.Clark,Phila.
of 1% p. a. began
OFFICERS.-Pres.,B. C. Cobb. New York; V.
tain restrictions (V. 99, p. 1132). Sinking fund of
-P., Geo. F. Hardy, N. Y.; Treas. C. E. Rowl, Jackson; Sec., Robt
April 1 1917, of total amount of bonds of this issue outstanding and all V.
-V. 110, p. 564; V..111, p. 1086, 1282, 1373, 1569; V. 112,
underlying issues for the purchase of these bonds (or call at 105) or for ac- Davey, Jackson.
p. 2510; V. 113, p. 75, 1364, 2316; V. 114, p. 2584; V. 115, p. 1842.
quisitions, impts.. &c. V. 99, p. 1132.
.Public Utilities Co.(now Southern Indiana Gzs & Electric Co.)-Securities
(b) Springfield (0.) Light, Heat & Power Co.
& ref. M. bonds are reserved to retire a like amount of
$2,640,000 1st
All the corn. stock Is owned by the Commonwealth Power Corp.
underlying bonds; $1.200,000 are pledged under the 1st lien & ref. 73is,
Additional bonds may be issued in series at different rates of interest
-Incorporated in Ohio in Sept. 1908. Franchises
ORGANIZATION.
co. for 75% of cost of add'ns, extend
not exceeding 6% per ann. to reimburse the
beyond maturity of bonds.
axes, &c., under certain restrictions. A general reserve fund is provided for
which the Co. must expend or deposit in this fund in each calendar year
under
STOCK AND BONDS- Date. Interest. Outstanding. Maturity.
an amount equivalent to 20% of gross earnings derived from the railway Common stock (12,000,000)$1.000,500
0
properties, 157 from the electric light and power, and 12% from the Prof 6% cum $2i
274.300
6%
4,300 ($100)- --- gas and steam heating properties and of all other income, to be expended Prof 7% cum $1,725,700($100) --- 372,800
7%
for maintenance, renewals, ext's &c., and the purchase and cancellation
1,155.000 April 1 1933
bonds of this issue or underlying bonds. Red. at 102 and int. on any Spring Lt, H & P gen & ref M f 1913 5A-0
of
35.000.000 ($1,000). Red;Int. at N. Y. and London. Mich. Trust
int date to and incl. Jan. 1 1924 and thereafter at 101 and int. V. 108,
at 105 and interest__Ontfl Co.. Grand Rapids, Trustee,
p. 269, 379. A description of the 1st lien & ref. 73s will be found in V. 112,
1742. The Evansville Gas & Elec. Light Co. must call at 105 Springfield Light, Heat 8cf 1909 5 F-A
568,000 Feb 1 192"
p. 1618,
and int. $10,000 annually on June 1 1913 to 1922, incldsive, and $15,000
Power first mortgage---tflInt.at State Say. Bk.& Tr.Co..001..0.. Tr.
on June 1 1923 to 1932, inclusive; 390,000 have been retired. They are ,
Evansville & Princeton first 5s
reserved to retire at or before
Bonds.-BuffIcient gem. and ref. bonds are
subject to call at 105 and interest. The
have a sinking fund of 310,000 per annum, which began Feb. 1 1908, said maturity the outstanding 1st M. bonds. Remainder for extensions, enfund to be invested in the bonds at 105, beginning with No. 1. $100,000 largements and additions at 85% of cost with certain restrictions. See
may be called at any V. 102. p. 1352. 3138.000 first mortgage bonds in sinking fund.
have been redeemed. Whole issue of these bonds
time at 110 and int. L. W.Prior of Cleveland is co-trustee of this mortgage.
-Year ending Dec. 31:
EARNINGS.
-The 1st mtge. 5s, ser."A," are red. at 1073.5 on any 12 mos.
Illinois Power Co.
Surplus.
Int.,ete
Gross. Exp., Tax., laint. Net
Series "B" 7s are red,
$366,572
hit. date upon 60 days' notice. and incl. Dec. 1 1926, on any hit. date 1921_ _ _ _31,096,582
$100,323
$466,895
$629,687
110 up to
thereafter
176,495
upon 60 days' n nice at 1931, thereafter at a premium of 1% for at 107% 1920_ _- _ 999,169
69,959
752.715
1
each year -V. 102, p. 614. 810, 1352; V. 106, p.246,451 114, p. 1898.
up to and incl. Dec.
403; V.
or fraction thereof of unexpired life.
(2) Michigan Railroad.
-An initial div. of $1 50 was paid Aug. 1 1922 on the pref. stk.
Dividends.
the
ORGANIZATION.-Incorp. April 17
-Generating capacity of the electric stations equals railway properties formerly owned by the1919 in Michigan and acquired see
PROPERTY. &c.
Michigan Railway (for history,
transmission lines. Gas mains, 1,016.81 miles.
"Electric Railway" Section of Marcia 29 1919). Leases for 999 years from
306,867 h. p. 1,510 miles of
-Ps., B. C. Cobb. C. M. Clark Jan. 1 1916 the Grand Rapids Holland & Chicago Ry. and the Michigan
OFFICERS.-Pres., Geo. E. Hardy; V.
G. Kessler; Sec., G. H. Bourne; Treas., United Rye.
Jacob Hekma; Compt., H.
-In Sept. 1920, the P. U. Comm. auth. the co. to continue the
and
Fares.
-V. 114, p. 2246, 2364; V. 115. P. 649. 1537.
Geo. '1'. Sprague.
-cent fare in Battle Creek temporarily. V. 111, p. 1370; see also V. 113.
10
p. 1471. On Nov. 2 1920 the people of Kalamazoo, Mich., rejected at a
Co.
-cent fare
general election the proposal to allow the company to charge a 6
(a) Consumers' Power
owned by Commonwealth Power Corp.
on its Kalamazoo city lines. V.111, p. 2140. In Sept. 1921, however, the
All the common stock is
company was auth. by the Mich. P. U. Comm. to Increase fares in Kalat.
-Incori In Maine in 1910, and in Nov. 1914 merged mazoo to 8 cents cash with 4 tickets for 25 cents. V. 113, p. 1251. In July
• ORGANIZATION.
previously controlled by stock ownership).
cash fares in Bay
the following 11 companies Rapids-Muskegon Power(Jo., Grand Rapids 1921 the Mich. P. U. Comm.auth. the company to reduce
Co.. Grand
City from 10 cents to 7 cents, and ticket rates in proportion, contingent,
Commonw.Power
Saginaw Power Co.. Bay Cit3 Power Co..
p. 533.
Edison Co., Flint Elec. Co., Power Co. (Mich.). Economy Power Co., however, on the city eliminating jitney competition. V. 113,
Consumers'
-See V. 113. p. 2819, under caption"Michigan United
Jitney Legislation.
Pontiac Power Co., and Central Power Co.
Railways."
Au Sable Electric Co.
Consumers' Power Co. (of Maine) an operating
This merger made the
Interest. Outstanding. Maturity
company and on July 20 1915 it was granted
STOCK AND BONDS- bate.
company instead of a holding business in Michigan. V. 99, p. 1528, 1597;
$4,000.000
a certificate of authority to do time the RR. Comm. approved the then Common stock $5,000,000same
11919 6 g M-N
4.400.000 May 1 1924
V. 101, p. 369. At the
preferred stocks and 1st lien and ref. let M bds $10,000,000 ($100,
$500 and $1,000) gold_c*.ttfIlqultable Tr Co, N.Y.,& Mich. Tr. Co.,tr.
outstanding issues of common and
bonds from time
issue additional
4,000,000 May 1 192
authorized the company to th under' n bonds shown in General mtge $4,000,000 gold_ 1919 6%
5% bonds and
retirement of
to time upon procurement or

(1) Commonwealth Power Corp.
Commonwealth Power Corp. is in
All the common and pref. stock of the
Power, Ry. & Lt. Co., either directly
the treasury of the Commonwealth Ry., Gas & Elec. Co.
its subsidiary, the Union
or through
all the
ORGANIZATION.-Incorp. May 16 1922 in Maine and acquired Illinois
Co., Central
outstanding common stocks of the Consumers' Power & Elec. Co. and the
Southern Indiana Gas
Light Co., Illinois Power Co.,
the ownership of all
Springfield Light, Heat & Power Co., thus grouping
Commonwealth Power,
electric light, power and gas cos. controlled byp. 2240. Through these
V. 114,
Ry. & Lt. Co. into one company. See a population of over 1,150,000 in
cos. served`175 cities and towns havingIllinois.
States of Michigan, Ohio, Indiana and
Maturity.
STOCK AND BONDS- Date. Interest. Outstanding.
180,000shs
Common 180,000 shs. (no par)
See text
$24,000,000
6 Q-F
cum
Pref$24,000,000(3100)6%
1922
25-yr secured sk fd 6% bonds Bankers 6 g M-N 12,500,000 May151947
York, Trustee.
Trust Co., New
312,500,000gold($100 $500
& $1,000 c*, and $1,000
tf
and $5,000r*
July 1 1939
Gen lien & ref mtge 59' bonds_ 1922
}4'°°°' 1.July 1 1972
Gen lien & ref mtge 69 bonds_ 1922




1

52

ELECTRIC RAILWAYS

[VOL. 115.

Bonds.
-The first mtge. bonds have an authorized total of 810.000,000.
STOCK AND BONDSDate.
which may be issued in series bearing different rates of interest, but
Interest. Outstanding. Maturity.
not to Common 36,000.000($100)_
exceed 6% per annum. In addition to the $4.500,000 outstanding,
$6.000.000
See text
$500.000 Pref $12.000.000 cum ($100)- ---may be issued under certain conditions; the remaining $5,000,000 may
5,250.000 Apr '21, 1 ai
6 Q-J
be
Rockford & Interurban By. Co.
issued for not to exceed 75% of actual and reasonable expenditures
made Rockford & Inter - Urban-I 1902
after May 1 1919 for additions, extensions, &c., under certain restrictions.
$ g A-0
I
let mtge. gold ($500 and Interest at First Nat.1,685,500 Oct at 1930
Sinking fund will retire semi-annually. $50,000 of bonds of this issue, either
Bk., N. Y.. or
Con31.000) $3.000.000..cs .ntf I linen. & Corn. Tr. & Say. Bk., Chic..trus.
by purchase in the open market or by redemption at 101 and
interest. Rockford & Freeport first f 1903
$50,000 in sinking fund in April 1920. A general reserve fund is also
498. y 13k. y hica2
498,000 May
0, sa 0
0.
5 g M-N
cl19g0
3
mtge. $750,000, gold. gutInt. at Con & Corn. Tr.
provided under which the company must either expend annually or
p & i ($1,000&3500)c*..ntf I Trustee.
deposit in cash with the New York trustee an amount equal to not less
Rockford Bel & Janesville 1st 1905
5 g A-0
than 20% of its gross earnings, to be expended for maintenance,
931.000 Oct
mtge g ($1,000) s f __c•_tf( Int. at Cont. & Corn. Tr. & Say. Bk.,1 1930
replacements and renewals, for the purchase or retirement of repairs,
Chic..
Trustee, .or First Nat. Bank. New York.
this issue, or for extensions, enlargements and additions Such bonds of
ee. co
expendiDe Kalb-Sycamore & Interurban Trac,
tures for extensions, enlargements and additions shall not be used
J-D
leafflis for the issuance of bonds, except as the general reserve fund is as a De Kalb-Sycamore Electric! 1907
5.000
hic..
1
reimfirst mortgage
_n tf I Int. at Cont.& Com.Tr.& S. Bk.. C
bursed to the extent of moneys used or withdrawn therefrom for
Tr
such
Rockford & Interurban Ry. Securities.
penditures. This fund is distinct from and has no connection with ex-Sinking fund on Rockford &
the Inter-Urban bonds of 5%
sinking fund. Callable at 101 and int. at any time on 45 days' notice
of gross receipts commenced in 1908. This issue
Int. is payable in N. Y. Tax-exempt in Michigan. The gen. mtge. is originally matured Oct. 1 1922. but was extended to Oct. 1 1930 at the
same rate of int. Sink, fund operations ceased Oct.
junior in lien in every respect to the first mtge. V. 108.
1 1922. V. 115,
P. 2022.
$4,000.000 bonds of this issue shown as outstanding are pledged underThe p. 1429. $574,000 of bonds in addition to those reported outstanding above
the are held in the sink.
Commonwealth Power Ry. & Lt. Co.'s serial notes of 1919.
fd. Add'i bonds can be issued for extension's and impts.
at 85% of cost. The entire issue is subject to call at 105 and interest.
ROAD.
-Owns and operates an interurban electric railway 47.64 miles Rockford
The
& Freeport bonds are assumed, prin. & Int.. by the Rockford &
long, extending from Flint through Saginaw to Bay City, with branch
to
Frankenmuth: one from Allegan to Battle Creek, 52.05 miles, and a new Inter-Urban Railway Co.; $127,000 are held in sink, fund. A sinking fund
equal to 5% of gross earnings began in 1910. Bonds are subject to call
high-speed interurban line. 58.52 miles, extending from Grand
Kalamazoo. Construction on this line completed in Dec. 1914 Rapids to at 105 and interest. V. 78, p. 1276. A sinking fund on the Rockford
service was begun May 17 1915. Leases the Grand Rapids and regular Beloit & Janesville bonds began in 1915 of 2% of gross earnings of that
Holland & division. They are subject to call at 10234 and interest
Chicago Ry., 76.48 miles.
They are guaranteed p. & i., by the It3c1;f. & Inter-Urb in. $66.033 ia s. f. 8.1A. 21)
1922
OFFICERS.-Pres.. B. C. Cobb; V.
-Ps., Frank Silliman Jr. and J. F
Dividends.
-First div., 14
on pref. paid Oct. 1909 and same amount
Collins: Sec., J. W. Glendenning; Treas., A. G. Bray. Office, Jackson quer. since to and including %,
Apr. 1921. First die. on corn.
-1%-paid
Mich.
-V. 107. p. 1004; V. 108, p. 1721. 1823, 2022: V. 110. p. 1849. April 11913; July 1, 1%; Oct.. 1%. In 1914, Jan.,
1%. Com. Pow.. Ry.
2568: V. 111, p. 1370. 1661, 2140; V. 112. p. 2537: V. 113, p. 533.
& Lt. Co. owns practically all the stock and divs. no longer made public.
(a) Michigan United Rys.-A third rall and trolley syetern. Leased to
ROAD.
-Rockford & Interurban operates 36.28 m. of trolley in RockMichigan RR. Co. for 999 years from Jan. 11916: see V. 112, p.
ford, 15 miles between Rockford and Belvidere: also 30 miles between Rock1866.
ford and Freeport, and 35 miles between Rockford, Ill., and Beloit
ORGANIZATION.
-Incorporated in Michigan on March 31
and
on May 1 1906 took over the Michigan Traction Co.. the Michigan 1906 and Janesville, Wis.; also a 6.39
-mile
Traction 123.67 miles. Janciviiie Traction extension to Camp Grant. Total.
Extension Co., the Jackson & Battle Creek Traction Co. and the
Co. oporatos 6.52
Lansing & Wis., and De Kalb-Sycamore & Interurban Trac., miles in Janesville.
Suburban Traction Co. The Lansing & Jackson Railway Co. has
8 miles, connection
also been De Kalb and Sycamore, Ill.
deeded to the Michigan Un Rye
In 1908 purchased Jackson Consolidated Traction Co.
OFFICERS.-Pres., G. E. Hardy; V.
-Ps., C. M.Clark and B. C. Cobb
V. 84,
and V. 87. p 285. Latter company's franchises in Jackson expire p.1183 Sec. & Treas., Jacob liekma, New York.
-V. 108,
in 1960
The City of Jackson has the right to purchase the Jackson Consolidated V. 111, p. 2141; V. 113, p. 2506; V. 114, p. 523; p. 1391; V. 110, ei• 2488:
V. 115. p. 184, 546.
Traction at an appraised value in 1930 and each 5 years thereafter
Interest Defaulted, &c.
(4) Grand Rapids Ry.-Trolley-On Oct. 29 1921. holders of the company's first
All the common and $500,000 pref. stock and the 31,200,000 gen. &
& ref. mtge. 30
-year 5% bonds were notified by the company that it would
ref. mtge. 6% bonds are owned by Corn. Pow.. Ry. & Light Co.
be unable to pay the interest due on those bonds Nov. 1 1921.
Sale to City Proposed.
-In Oct. 1921 the co. offered to soil its property to
underlying bonds, however, was paid. V. 113, p. 2080, 2185. Interest on
this default the following protective committees were formed: Following the city of Grand Rapids for 56.270,000. V. 113, p. 1471, but see below.
Committee for First et Ref. Mtge. 5s.
ORGANIZATION. &C.-Incorp. In Michigan in April 1900 as a suc-G. R. Cottrelle, A. A. Tilney.
Jos. B. Hurd, B. F. Davis, C.S. Campbell; Sec., Jacob Ilekma, 14 Wall St., cessor company to the Consolidated St. Ry. Owns and
operates
N. Y. City. Depositories: Bankers Trust Co., N. Y. City: Capital Trust street railway system of Grand Rapids and vicinity. Franchisesthe entire
expire in
Corp., Temple Bldg., Toronto, Can.; and City National Bank of Lansing; 1921 and in 1929. On June 12 1922 the City Commission of
Grand Rapids,
Investment Registry, Ltd., London, Eng.(representing Capital Trust Corp) Mich., approved an ordinance granting the co. a 30
--year franchise, which
V. 113, p. 2771.
permits a 10
-cent fare with 7 tickets for 50 cents at least for 3 months from
Committee.
-II. A. Kohler, Clifford Bucknam, Marvyn Scudder and B. E. the adoption of the franchise. The rate wiil then
Smythe. Depositaries: American Trust Co. and Columbia Trust Co. in fixed steps. See V. 115, P• 183, for details. be increased or decreased
The franchise has been
V. 113. p. 2080, 2185.
approved by vote of the People. V. 115, p. 1428.
For statement by committee headed by G.R. Cottrell°,see V. 113, p.2721.
Valuation.
-In Jan. 1922 the company and the City Commission reached
Fares.
-See Michigan RR. above.
an agreement, placing a valuation of 35.500.000 on the properties of the
STOCK AND BoN DSInterest. Outstanding. Maturity. company. The Commission agreed to grant the company a 30
Date.
-year franCommon. $6.000.000 ($100)chise, allowing a return of 8% on the new valuation. After 5 years a
$6.000.000
Pref $1.000.000 4100)6% cu_ ___
M-S
1.000.0(10
See text revaluation may be made but the 8% return remains in effect. The people
let & ref mtge $12,500,000! 1906
5 g M-N
10 047.000 May 1 1936 have voted in favor of the new franchise. V. 115, p. 1428. Compare
gold 31.000. $500. $250,( Int. at Columbia Tr. Co., N. Y.. trustee,
V. 114, p. 197.
$100 and S501 _ __ __c&r.tf I or Nat. Provincial Bk. of Eng.. London.
Fares.
-On Dec. 4 1918 the co. was auth. by the Comm.to
Michigan Trac Ext let mtge 1903
5 g J-D
241.000 Dec 1 1923 V. 107, p. 2289. See also V. 109. p. 887. Effective June charge 6 cents.
$500.000($1.000) g____c .tf Int. at Colunabia Tr. Co., N. Y., Trustee.
was authorized to charge a 7-cont cash fare with 16 tickets20 1920, the co.
for $1. V. 110,
Jackson & Battle Creek first 1903
5 g J-J
1.200.000 Jan 1 192:' p. 2387. On Dec. 19 1920 was
mortgage, $1,200,000 ($1.- Interest at Citizens' Savings Sr Trust Co.. cash, or 7 tickets for 50 cents. auth. to raise fares from 7 cents to 8 cents
V.111, p.2324.
000) gold
Cleve., Trustee. or First Nat. Bk.. N. Y.
c•.tf
In May 1919 issued 32,500.000 1st M.6% bonds in connection with
Jackson Consol Trac lit mtge 1904
the
5 g M-N
790.000 May 1 1934
s
$1.000,000 gold ($100.$500 Interest at Guardian Trust Co.. New York. refunding of an r'sue of $3,700,000 1st M.5s duo June 11919. V.108,p.2122'
and $1.000)
STOCK AND BONDS0tf I Trustee.
Date.
Interest. Outstanding. Maturity.
Bonds.
-Of the 512,500.000 first and refunding bonds, sufficient are Stock coin $2.000,000 $100)$2,000.000
See text
reserved for prior liens and remainder for addns., bettermts and insets Prof $2,000.000 cum 5%(5100) ---Q-F
2,000.000 Nov'18. 1 h
subject to call at 110. V. 82, p. 1157. See also V.87. p. 167. 285; V. 88 First mortgage $4,500,000 1919
6 g J-D
2,500,000 June 1 1924
p. 1437. Bonds are listed In London. V.90, p.914. The Jackson Consol
$500 and $1,000) g
c* Michigan Trust Co., Grand Rapids, and
Trac. Co. bonds are subject to call on any int. date at 105.
Bankers Trust
Trustee
$259,000 Mich. Trac. Ext. 1st M. bonds were hold in sinking fund on Gen. & Ref. Mtge 31,200,000 1919 g 6 J-D Co., N.
Y.,0 June 1
Oct. 1 1920 (not included in the amount reported outstanding.)
,.li at Brooklyn Trust Co., Trustee.1924
e
1,20.nt
The Jackson & Battle Creek bonds are suoject to call in any amount
Bonds.
-Of the remaining 1st mtge. bonds $1.200,000
after 10 years at 105 and interest. V. 75. p. 1147.
against the present property under certain conditions and may be issued
Dividends.
-6% is being paid on preferred stock.
be issued for 75% of the cost of permanent extensions, &c.,$800,000 may
under certain
REPORT.
-Earnings are no longer reported separately.
restrictions. Rod. as
ROAD.
-Operates all city lines in Jackson, Battle Creek. Kalamazoo payable in N. Y. City a whole at 101 and int. on 4 weeks' notice. Int.
or Grand Rapids, Mich. Tax-exempt in Michigan
and Lansing and interurban lines between Jackson, Battle Creek and Kale
V. 108. p. 2122.
mazoo, and between Jackson. Lansing and St. Johns, Lansing and Owasso
The gen. mtge. bonds are all pledged as security for
and from Jackson to Grass Lake and Wolf Lake; total operated. 261.13 m
serial 6% notes of the Commonwealth Power Ely. & Lt.the $750.000 secured
Co. V. 108, p.
Through service between Jackson and Lansing began In Nov. 1909. Op
Diridends.-5% was regularly paid on pref. stock to and incl. Nov. 2433.
1918.
orates through service to Detroit over Detroit United Ry. lines under traria,- None since.
agreement connection from Jackson.
-V. 113, p. 1251, 2080, 2185, 2721,
REPORT.
-For years ending Dec. 31:
2819; V. 115, p. 436, 1532.
Bal. for.
(b) Grand Rapids tIolland & Chicago Ry.
YearGross. Net aft.Tax. Charges. Pref.Div. Dep..&c.
Corn. Pow., Ity.& Lt. Co. owns all the pref. and practically all the corn. stk. 1921
51.844,732 $488,707 $337,867
20:803400
$150,840
Leased to Michigan RR. for 999 years from Jan. 11916.
1.804.293
337.929
334,999
ORGANIZATION .-Incorporated in Michigan in July 1904 and is a re- 1920
ROAD,&0.-28.82 miles double and 10.23 miles single track: total single.
organization on Aug. 1 1904 of the Grand Rapids Holland & Lake Michigan
Rapid Ry. See V. 79, p. 627. Power is supplied to company by Con- track equivalent, 68.18 miles. 163 passenger, 12 trailers and 28 misc.
sumers Power Co.. but company maintains own station in readiness to and service cars, 2 pleasure parks, &c. l'ower is obtained from Consumers
operate in case or emergency. Franchises in city of Holland and village Power Co. under satisfactory long-time contract.
streets expire in 192g to 1930- remainder on private riehts of way.
OFFICERS.-Pres.. B. C. Cobb.; V.-Pres., & Gen.
Bond Extension.
-Holders of the $1,475,000 Grand Rapids Holland & Lamarter;Sec.& Treas., W.E. Livingston. Office, Grand Mgr., L. J. De
Lake Michigan Rapid Ry. 1st Mtge. 5s due Aug. 1 1920. were asked to V. 109, p. 887; V. 110. p. 2387; V. Ill, p. 1661, 2324; V. Rapids, Mich.
112, p. 932, 2083;
extend same for 4 years to Aug. 1 1924 at 7%. V. 111. p. 389.
V. 113, p. 1471; V. 114, p. 197; V. 115, p. 183.
STOCK AND BONDSInterest. Outstanding. Maturity
Date.
3487.90o
(5) Saginaw-Bay City Railway Co.
Common,3500.000
Entire stock (except directors' shams) is owned by (7om.Pow..Ry.&I.t.Co.
Pref, 3850,000.6%
836.800
Receirership.-In Aug. 1921 Otto Schupp was appointed receiver for the
let mtge. Grand Rapids Viol. f 1900
7 g F-A
1,475 000 Aug 1 1924
& Lake Mich, $1.500,0001 Int. at Cont. & Comml. Tr. & Say. Bk., Chic company on application of the Commonwealth Power. Ry. & Light Co. and
others. V. 113, p. 850, 2080. For statement regarding company's condigold ($500 and $1,000) _ntf I Trustee, or at Guaranty Trust Co, N. Y
Bonds.
-A sinking fund is provided of 55.000 per annum for first 5 years. tion at time of receivership petition see V. 113. p. 732.
Operations Suspended.
$10,000 per annum for second 5 years 315,000 yearly for third 5 years and
-At midnight Aug. 10 1921 all operations were sus$25,000 per annum for fourth 5 years. Bonds are not subject to call. pended. See V. 113. p. 732, for full particulars.
Plan for Resumption of Service.
They were originally 5s and matured Aug. 1 1920 but have been extended to
-See V. 113, p. 1186.
Ordered to Remove Tracks.-Tne S,Iginaw (Mich.) City Council on July 11
Aug.! 1924 at 7%. V. 111. p. 389.
ROAD.
-Operates 76.48 m. of track from Grand Rapids through Holland 1922 ordered the removal of the cos. tracks from the streets. On the
previous March 25 an ouster ordinance was passed calling upon the co to
to Macatawa and Saugatuck. with steamer connection at Holland for Chic. remove
its tracks, and overhead construction within 90 days. V. 115, p. 437.
-V. 96, p. 1422; V. 100, p. 140; V. 111. p. 389; V. 112, p. 2537.
ORGANIZATION.
-This company is a consolidation of the Saginaw
(3) Union Railway. Gas & Electric Co.
Valley Traction Co. and railway dept. of the Bay City Traction & Eitle. CO.
Practically all the common and pref. stock is owned by the CommonFare Increase.
-In July 1918 was authorized to charge a 6-cent fare
wealth Power, By. & Lt. Co.
In Saginaw, this franchise, however, was revocable and in April 1919 the
ORGANIZATION -(neorporated in New Jersey June 29 1909 people of Saginaw voted it down. V. 108, p. 1276. On July 31 1919.
In May 1922 all the electric light, power and gas properties controlled however, an ordinance was passed providing for a 6-cont cash fare with
by tho Union By., Gas & Elec. Co. were acquired by the Commonwealth labor and school tickets at 5 for 25 cents. This ordinance was approved
Power Corp. (see above). The co. owns practically all the capital stocks by the electors Sept. 9 1919. V. 110. p. 465.
of the Rockford & Interurban Ry. Co., Do Kalb-Sycamore & Interurban
Jitney Regulation-Proposed New Franchise, &c.
-See V. 111. P. 2325.
Trac. Co. and the Janesville Traction Co. Holders of Union Ry., Gas & On Dec. 7 1921, however, an advisory vote was taken and the people of
Elec. coll. trust 5% bonds due July 1 1939 on June 30 1922 were offered in Saginaw voted in favor of motor buses rather than the restoration of
exchange gen. lien & ref. bonds of the Commonwealth Power Corp. as per street car service. V. 113, p• 2615. In Sept. 1922 it was proposed to
offer in V. 11;5, p. 184, 546. We have therefore eliminated the coll, trust submit to the voters at the Nov. 1922 election the question of granting a
te ..
b.
bonds from the table below.
25
-year franchise to Otto Schupp, trustee, representing 1st mtge. bonds,
forntsh.e operatinn o533
Sub. Co. Fare Increase.
1np 1fa street car system in Saginaw with motor
-In Dec. 1918 ticket fares on the Rockford & sio
.
Interurban Ry. were increased to 2.6 per mile and cash fares to 3 cents
V.
per mile. V. 107, p. 2477. In Nov. 1920 fares between Beloit and Janes-Interest due Aug. 1 1921 on the Saginaw Valley Trac.
Interest Defaulted.
ville,'Wisc.. were raised 20% by authority of the Wisc. RR.Comm. V. III. 1st Mtge. 7s was not paid when due. V. 113, p. 732.
p. 2141. Effective Aug. 1 1922 a 10-cent cash fare with 4 tickets for 25
Interest. Outstanding. Maturity.
STOCK AND BONDS- Date.
cents was authorized. V. 115, p. 1429.
3 559.0 Ry.
C
1 1Co
11
Stock, $2,600,000
A19owned by -sornmor Pr.,o m Lt. 935
The Rockford & Interurban Ry. 1st mtge. 5s, due Oct. 1 1922, were First and refunding mortgage
Mar
extended to Oct. 1 1930. V. 115, p. 1429. Co. is also empowered to
0
d R
I
$5.000,000 ($1.000)..__c•tf Michigan Trust Co., Grand 0 ap1ds, Trustee.
extend the $498,000 Rockford & Freeport Elec. By. 1st mtge. 5s at or Saginaw Val Tr lit M.$850,-(1899
Feb
7 g F-A
before maturity. May 1 1923. V. 115, p. 1429.
000, g ($1,000 each)_c•ntf Int. at Boston Safe Dep.& Tr. Co., Trustee.




53

ELECTRIC RAILWAYS

OCT., 1922.]

LAKE OF
THE WOODS

Nepigon

Rainy Lake
Fort William

'ROYALE
Red Lake

MICHIPICOTEN

Tower

S

L

Hibbing

f
eenaw Pt. °

,

ND8

Swan River

,}u

a

Park Rapids

on

Ontonago'
Jsliperning
Sault Ste. Marie

Wadena
M Humboldt
IJanistique
Pembine

Sauk Cente
St. Cloud

Prentice
Turtle Lake
§tillEater
Cu ppewa Fa s
S IPAUL

MINMZAPO

Pe .skey
Alpena

1

/9J

r;
Tra erse City
for‘

aribaule

‘
01anistee
ngton
gap

ita

ater
Ray City

I

USKEGO

Sheldon
sburg

CLEAR LA E

lko

1%

MASON CITY

Flint

" .4
-53 01
(1\ GRAND RAPIDS

GRAND.
t=4 HAVEC Holland

Rolfe

FORT-DO G

A CANSING
--Pontiac
--

Battle Creek
Romer
Jackson
Adrian

Jefferson

TOLEDO
ollet

Atlantic —DES MOINES
Council Bluffs
M HA

Keo -uk

f

GF ELD

IND ANAPOL S

St.Josc
Mo

rly
axle°
„Aiur
St.Charies

t.Vernon

,
New Alban

Cuba

sceola
Nevada

MAP

Showing Location and Nature of Properties
OF

UNITED LIGHT AND RAILWAYS COMPANY
AND

ASSOCIATED COMPANIES

rKno viii

Ilumbol t

KEY TO PROPERTIES
Mu

Gas (only)
X

hY

MEMPHIS

Electric (only)

o y Sp

Dalton

Gas and Electric
1
4Rorne
i
--.....,

Gas, Electric and Railways
Interurban Railways and Terminals
Gas and Railways
(Street and Interurban)

•




Water Valley
Ros d
West Point
Colum us
Greena\ood

4
. A
F"Nari*I
i
.
AustellATLANTA
‘ \41/
! \ )?__
' cDonough
libwril

.1(2

54

ELECTRIC RAILWAYS

[Vol,. 115.

Bonds.
-Of the 1st & ref. bonds. $610,000 are reserved to retire Sag. Val.
Tree. bonds; remainder for 85% of cost of additions, &c. Red. on any int "A" aro red, all or in part at any time on 30 days' notice on or after
April 1 1917 up to April 1 1948 at 105 and int. V.84, p. 895. Penna.
date on 60 days' notice at 105 and int. Int. at Hodenpyl. Hardy & Co.
State
tax and Conn. State tax of 4 mills refunded. V. 114. p. 1536. Chatt.
New York
Gas
Co. bonds have a sinking fund of$15,000 per annum from 1912 to 1926, incl.
The Sag. Val. Trac. bonds originally bore Int. at 5% and matured
Feb. 1 1920, but were extended for 3 years at 7%. The extens:on agree- on first 8500,000 bonds and 2% additional on any further bonds issued.
ment provides for a sink, fund of $75,000 (to be paid in three installments) Subject to call at 105 and int. V. 84, p. 805. 86.000 of bonds reported
to be used to acquire bonds at not exceeding 101 and int., bonds so acquired outstanding owned by United Light & Railways Co.
-year 8% bond-secured notes of 1920 are secured by cash equal
to be canceled. The extended bonds are tax-exempt in Mich. V. 110. to The 10
the face amount of notes or first and refunding 5s in the ratio of 133 1-3%.
p. 465.
Redeemable, all or part, at any time on 30 days' notice at 1074 and
ROAD.
-Operates about 64 miles of street railway track in Saginaw and int. up to and incl. Nov. 1 1921; since at
34 of 1% less during each
Bay City, Incl. Interurban line between the two cities.
of the next 5 years, and thereafter at 1 point less each year until maturity;
OFFICERS.-Pres., B. C. Cobb; V.
-Ps., H. T. Wickes, J. E. Davidson plus interest in each case. Penna. 4 mills tax refunded. V. 111, p. 2141.
and J. A. Cleveland; Sec.. J. W.Glendening; Treas., A J. Bray; Asst. Sec.
Debentures.
-The direct obligation of the co. No mortgage may be cre&Asst. Treas.. S. E. Wolff.
-V. 113. p. 2080, 2615; V. 115. p. 437, 1533.
ated Junior to the let & ref. M. without equally securing the debs. At no
time shall there be outstanding debs. in excess of 75% of the total of6%
(6) Manistee Railway Co.
pref. stock outstanding. No further debs. may be issued unless earns.
Operations Suspended.
-Owing to the failure of local authorities to grant available for interest charges are 3 times the requirements on the deb.
the company any relief either in the form of increased fares or otherwise,
the then outstanding incl. those applied for as well as the int. upon any uncompany suspended operations Aug. 26 1921. V. 113, p. 1156.
secured debt. They are callable, all or part, upon 4 weeks' notice to Nov.
In
1922 the Worth Transportation & Products Co. was granted the Jan. 1921 at 102 and int. and thereafter at 101 and int. Convertible upon 1
10
to operate cars in Manistee. For further details see V. 114, p. 306. right days' notice to Nov. 1 1923 into 6% pref. stock at the rate of $1,125 par
Incorp. in Mich. in march 1913. successor to Manistee Lt. &
Trac. value for each $1,000 par value deb. Pa. State tax refunded. V. 103.
Co., sold at foreclosure in 1912. The Manistee Pow. & Lt. Co. then
p. 2079.
took
over the gas and electric properties but in Jan. 1916 these were respectively
Maintenance and Depreciation Fund.
-The co. must set acid's yearly not
acquired by the Michigan Light Co. and the Consumers' Power
less than 124% of its gross earnings, any part of which not actually exDoes the street railway business In Manistee and Filer City. Co.
Franchise pended in any calendar year for maint., &c.. to be used for extensions. ad,
80 years from 1904.
litions. &c., against which no additional bonds may be issued.
Fare Increase.
-In May 1918 fares were increased to
Dividends of 114% have been paid quer. on let pref. since Oct. 1910 to
commutation tickets at 3 for 25 cents and 7 for 50 cents. 10 cents, with and
incl. Oct. 1922. An initial div. of
% on the partic. pref. stock
Stock.
-The company's entire 3100,000 capital stock and $60.000 1st paid Oct. 2 1922. The second pref. received 34% quar. from Oct. was
1910
mtge. 5s, due 1943. are owned by the Corn. Pow., R.& Light Co.
to July 1915. Was then converted into let pref. and corn. stk. As to stock
div. on corn., see V. 94. p. 1250. Divs. of % on corn. were paid quer.
ROAD -Operates 7.41 miles of track. Gauge 4 ft.
814 in. 35 to 100 from April 1913 up to and incl. July 1914. None to
b. T and 85-11). girder rails. Operates a 50
Oct. 1416, when 1%
-acre park on Lake Michigan. was paid,
same rate quarterly since to and incl. Oct. 1919. Jan. 1920 div.
OFFICERS.
-Pros., C. J. Holmes; V.
-P.. W. H. Barthold; Sec., J. W. deferred (V. 109, p. 2357). None since. A stock dividend.of
1% payable
Glendenning; Treas.. A. J. Bray.
-V. 113, p. 1156; V. 114. p. 306.
in common stock, was paid April 1 1914 in addition to the regular dividend
of 1% paid on the same date. V. 98. P. 525.
UNITED LIGHT Sc RAILWAYS CO.
REPORT.
-Report for 12 mos ending Aug. 31:
-(See Map, pave 53.)
Combined Earnings of Subsidiary Companies.
ORGANIZATION.
-Incorporated in Maine in July 1910, per plan in
V. 91, p. 96. Owns over 99% of the common stocks, over
Combined Earnings of Subsidiary Company-12 Months ending Aug. 31.
26% of the
pref. stocks and over 51% of bonds and notes of the following companies'
Gross.
Open. Exp.
Net.
Int., &c.
Surplus.
Cadillac (Mich.) Gas light Co.
La Porte (Ind.) Gas & Elec. Co.
1921-22_.._$1l,259,852 $7,846,982 $3,412,870 $1,767,713 $1,645,157
Chattanooga (Tenn.) Gas Co.
Mason City & Clear Lake (Ia.) RR. 1920-21_ _ - 11,728,485
8,554,893
3,173,592
1,771,888
1,401,704
Cedar Rapids (Ia.) Gas Co.
Ottumwa (Ia.) Gas Co.
Income Account United Light & Railways Co.for Years ending Aug. 31.
Cedar Rapids & Marion City Fly. Co. People's Gas & Elec. Co..
Mason C'y.
1920-21.
1921-22.
1921-22.
1920-21.
Fort Dodge (Ia.) Gas & Electric Co. Tr -City Railway & Light
Co.
Earns. on stks.
Interest on
Grand Rapids Grand Haven & Musofsub.cos__81,629,303 $1,389,721
bonds and
kegon (Mich.) Ely. Co.
Other income_ 1,398,063 1,407,626
notes
$1,010,989 $1,011,125
The Grand Rapids-Grand Haven & Muskegon Ry. was acquired
Preferred divi1912; V. 94, p. 209. The Tr -City Ry. & Light Co. was taken over In Jan,
Total
dends
$3,027,366 $2,797,317
701,427
627,162
1912; V. 94, p. 769. The Cedar Rapids & Marion City Ry. in June Exps.& taxes_
405,258
361,356
Co. was
acquired in July 1912.
Total deduc's_$1,712,416
In Feb. 1913 purchased the People's Gas & Electric Co. and the Mason Net earnings_82,666,010 $2,392,089 Bal., surplus_ $953,594 $1,638,287
$753,802
City & Clear Lake RR. In 1913 also acquired the
Operating Statistics
and the Iowa & Ill. By. Term. Co., but in Jan. 1916 Iowa & Illinois Ry
these two cos. were
12 Mos. ending- Aug.31 '22. Aug.31 '21. Aug.31 '20. Aug.31 '19.
consolidated with the Davenport & Muscatine Ry. (forming the Clinton
2,331,287
2,410,070
1,920,248
Davenport & Muscatine Ry.) under the management of the Tr -City By. 1,000 cu.ft. of gas sold_ _ 2,018,338
K.w.h.elec. energy sold_162,621,311 151,643,450 167,904,034 159,832,235
& Light Co.
On Sept. 8 1920 the United Light & flys. Co. was incorp. in Delaware Revenue passengers:
Urban railways
27,843,305 31,318,484 40,897,061 42,312,967
with a total authorized capital of $50,000,000. Of the total auth.
stock,
Interurban railway_
2,094,367
2,527,598
2,879,626
2,681,435
$25,000,000 is corn. and $25,000,000 prior pref. 7% cum. stock. All the
corn. stock, except directors' shares, is owned by the United Lt. &
PROPERTY.
-The physical properties include 10 electric central stations
Rys. with a total
Co. of Maine. The 7% prior pref. stock is being sold to the public in
generating capacity of 103,650 h. p. of which 7,215 h. p. is water
the power;659
communities served by the subsidiary cos., and as of Aug. 31 1922,
miles of high-tension transmission lines; 3,653 miles of distributapprox. ing lines
$1,000.000 of this stock was outstanding in the hands of the public.
with sub-stations; 11 gas plants, 9 of which are equipped with coal
OPERATIONS.
-Does entire gas °tailless in Davenport. Cedar Rapids gas and water apparatus permitting operation of which is more advantageous
(supplying also suburbs of Marion and Kenwood Park and intervening under prevailing conditions. The gas plants have an annual output of over
2,500,000,000 cu. ft. The distributing mains are 750 miles in length. The
territory), Ft. Dodge, Iowa City, Mason City, Bettendorf, Ottumwa
and companies combined have 66,548
Muscatine, Ia.; Cadillac, Mich., La Porte. Ind., Rock Island,
Moline, street railway properties include gas and 52,417 electric customers. The
East Moline, Milan, Silvis and Watertown. 111.; and Chattanooga.
147 miles of track, are
Tenn.: modern rolling stock. The high-speed interurban lines equipped with
entire electric-light and power business in Davenport, Ft. Dodge,
which have a
City, Mason City and Muscatine, Ia.; Rock Island. Moline and Iowa trackage totaling 123 miles, are located on private right-of-way.
East
Moline. Ill., and La Porte, Ind. Has hot water and steam-heating
OFFICERS.-Pres.. Frank T. Hulswit, Chicago; V.
-Ps., Richard
system
Jr Davenport and Mason City. Ia.. and La Porte, Ind. Operates street Schaddelee, Grand Rapids; B. J. Denman, Davenport, and
railways in Cedar Rapids, Marion, Mason City. Muscatine and Davenport, Grand Rapids; Sec. & Treas., L. H. Heinke, Grand Rapids;T. J. Weber.
Asst.
Ia., and Rock Island. Moline and East Moline, 111.; interurban railways Asst. Treas., F. F. Kelley; Gen. Mgr., Richard Schaddelee; General Sec. &
office,
are operated between Cedar Rapids and Marion, Ia.; Mason City and Portland, Me.; executive office, Chicago; operating headquarters, Grand
Clear Lake, la.; Davenport and Clinton, la • Davenport and Muscatine. Rapids; operating headquarters for Iowa district, Davenport.
Ia.; Davenport. Ia., and Rock Wand, Moline and East Moline, Ill., Grand V. 110, p. 2071, 2084; V. 111, p. 190. 494, 897, 1084, 1184, 2141;Iowa.
'
V. 112.
Rapids, Grand Haven and Muskegon. Mich. In all. 55 communitlea, with p. 1400. 1979. 2403, 2414: V 11:1. n. 413. 1984, 2407, 2615; V. 11-1, p. 1536.
a population estimated at 600,000 are served. Franchises expire from 1768, 2580; V. 115, p. 184, 761, 870.
1921 to 1960; approximately 73% are indeterminate or extend beyond
(1) Grand Rapids Grand Haven & Muskegon Ry.-Electric road.
1932.
In April 1922 issued 87,000,000 1st lien & cons. mtge.6% bonds ser. "A". Third-rail system. Entire stock owned by United Light & Rys. Co.
ORGANIZATION .-Incorporated in Michigan on March 6 1899. Owns
proceeds of which, together with the sale of capital stock (underwritten)
will be used to refund the coll. tr. 1st lien 5% bonds of the Tr -City By. & and operates an electric road on fenced right of way. connecting the three
Light Co. and the 7% secured notes Series' 11" of the company. both due cities named in the title, a distance of 41 miles. Franchises in all towns
April 1 1923 (called for payment Oct. 1 1922 at 100 and int. V. 115, p. 761.) through which it passes extend to 1929; otherwise private right of way.
V. 114, p. 1536.
Rates.
-In July 1918 applied
1.-S. 0. Comm. for auth. to increase
In July 1922 holders of corn. stock were offered in exchange for one-half class rates from points on theto theto Milwaukee. Wisc.,
line
by
their holdings, a like amount of now 7% partic. pref. stock. V. 114, p. July 1918 filed suit in the U. S. Dist. Court at Grand Rapids, 25%. In
seeking to
2580; V. 115, p. 184.
enjoin the State from enforcing the law fixing the maximum rate for interurbans in Michigan at 2 cents a mile. V. 107. p. 291. In Dec. 1918
Transfer Agencies.
-Stock transfer agencies are maintained In New York
Judge C. W. Sessions, in the U. S. District Court at Grand Rapids, Mich.,
In Chicago and in Grand Rapids. See V. 97. p. 1358.
held valid the Michigan 2-cent fare law thus
STOCK AND BONDS.Interest
Outstanding. Maturity. collecting 3 cents per mile. V. 108, p. 78. preventing the company from
Date.
In May 1919 the Michigan
Common $12.500,000 ($100),._ --_Q-J
$5,215.700
See text Legislature passed a bill increasing passenger rates on steam and
electric
1st pref $12.500.000 ($1OO)}
interurban roads from 2 to 24 cents and 3 cents per mile. See under
6% cumQ-J
10.132.600 Oct'22, 14 caption "United Lt. & Rys. Co.," V. 108. p. 2123.
2d pref. 85.000,000 (8100)
See text.
Partic. pf. $20,000,000 (8100)_ ---7%
STOOK AND BONDS1,644,400 Oct.'22 134
Interest. Outstanding. Maturity.
Date.
First & ref mtge gold ($1004 1912
5 g J-D
11.271,700 June 1 ,932 Itock. $1,200.000 ($100)
31.200,000
"$500 & $1,000)_
e.&r ffiNew York Trust Co., N. Y., Trustee.
lst mtge.$1.500.000 ($1,000) 1901
1.500.000 July 1 1926
5g
1st lienkcons Mser"A"(8100,1 1922
6 g A-0
gold
7,749,500 April 1 1952
c*tt(Int. at Guaranty Trust Co., N. Y Trustee
$500 & $1,000c5 & $1,000 r* Int. at New York Trust Co.. N. Y., trustee.
Stock -Entire stock, except directors' shares, deposited under United
Cony debentures gold ($100. 1916
6 g M-N
2,000.000 Nov 1 1926 Light & Rys. Co. 1st and ref. mtge.
$500. $1.000. &c)__c*Acrstf Int at New York Tr. Co., N. Y.. trustee.
Bonds.
-The interest on outstanding bonds was guaranteed for 5 years
Secured notes ($100. $500 & f 1920
8 g M-N
1.859,500 Nov 1 1930
by the Security Investment Co. or Pittsburgh. See V. 76. p. 479. 36,000
$1,000) gold
c*tflInt. at New York Trust Co., Trustee.
of outstanding bonds held by United Light & Railways Co.
Chattanooga Gas first mtge( 1907
5 J-J
456.000 Jan 1 1927
$1.500.000 g ($1.000)_c*tfi Int. at Con. & Coin. Tr. & Say. Bk.. Chic..
-Extends from Grand Rapids in a n •rthwesterly
ROAD.
l Trustee. or First Nat. Bank. New York. Yfuskescon. with a branch to Spring Lake and Grand Raven. direction to
Connects at
People's Gas & El Gen Mtge( 1906
6 A-0
370,000 April 1 1931 Grand Haven with Goodrich Line of steamers for Chicago and Crosby Line
$500.000
Hi Int. at Central Tr. Co.. Chicago, Trustee of steamers for Milwaukee. which are in operation all the year round.
track, 43 67 milers. of which 4.74 m in Grand Rapids and 3.43 in. In Total
For securities covering railway properties see separate companies below.
Muskegon are operated under
Stock.
-First pref. stock is redeemable at 105 and accrued dirs. The and the Muskegon Trac. trackage agreement with the Grand Rapids By.
& Ltg. Co. (see V. 113. p. 1674). 70-1b. T rail.
2d pref. stock was cony. into 1st pref. or corn. stock, share for share, in 1915: Operates 15 passenger, 16 express and
7 work cars. Also does a freight
Com,is only stock with voting power. V.91, p. 96, 519: V.92. p. 1110; V
business.
95, p. 421. In July 1922 one-half the outstanding corn. stock was made p. 1671,-V. 100, p. 901, 1672; V. 107. p. 82, 291; V. 108, p. 2022; V. 113.
2613; V. 115, p. 513.
convertible into partic. 7% pref. The partic. 7% pref. Is cum. and a
further div. to the extent of 1% additional shall be declared on the partic.
(2) The Tri-City Railway 8c Light Co.
pref. whenever in any year 7% or more is paid on the corn. stock. V. 114.
In June 1912 control was acquired by the United Light & Rys. Co.
p. 2850; V. 115, P. 184. Red. all or in part on any div. date at 120 and
Tri-City Ry. & Lt. com. stockholders received in exchange for their shares
divs. V. 114, p. 2580. $333,800 additional corn, stock is held in treasury.
8497,100 of the outstanding Chatt. Gas Co. prof. stock is owned by the $31 16 2-3 cash, 316 86 2-3 United Rya. 6% let pref. and $12 50 2d pref.
3% stock.
-V. 94, p. 768. The United Lt. & Rys. Co. owns $8,915,000
United Light & Railways Co.
common and $280,800 preferred stock.
Bonds.-Int on first and ref. mtg. bonds Is payable at office of trustee
ORGANIZATION.
-Incorporated in Connecticut March 3 1908 and
or Continental & Commercial Triett & Saving's Bank, Chicago. Mortimer
N. Buckner is co-trustee. 89,054,000 bonds (not included in amount owns all the stock, exce it directors' shares, of the following companies
Moline-Rock Island Mfg. Co.
security for notes and 1st lien and 'Fri-City Railway Co. o Iowa.
outstanding above) are deposited as
Peonle's Light Co.
consol. mtge. bonds and $13.900 are in treasury. Additional bonds Tr -City Ry. Co. of Illinois.
0. D. & M. Ry. Co. [but see belowl
issued for refunding underlying bonds and for 75% of par value people's Power Co.
may be
Muscatine Lighting Co.
of preferred stocks of underlying companies redeemed or purchased. 75% Iowa City Light & Power Co.
Controls all gas plants, electric-lighting companies and street railway
of cost of betterments. improvements and additions, and for 75% of cost
of additional property, under certain restrictions. Redeemable as a whole lines in the cities of Davenport, Iowa City. Muscatine, Bettendorf and
. or in part on any int. day at 10214 and int. on 60 days' notice. A deprecia- Rockingham. Ia., and Rock Island, Moline, East NI aline and other smaller
tion fund of 2% on all bonds out became operative in 1917. See description towns in Illinois, and an interurban connecting Muscatine, Davenport and
of bonds in V. 102. P. 1898. The 1st lien & cons. mtge. 6s. Ser. "A. are Clinton. Population served, approximately 205,000. Railway franchises
secured by pledge of 86,560,000 1st & ref. mtge. 5s and $1,185,000 Liberty extend to 1930, 1935 and 1951; electric franchises to 1935 and 1943,
and
bonds. Additional bonds may be issued under certain restrictions. Ser. gas franchises to 1929, 1933 and 1943.




OCT., 1922.]

ELECTRIC RAILWAYS

55

-See V. 114. p. 2719.
Jitney Restriction.
In Jan. 1918 the properties of the Iowa & Illinois Ry. and Iowa & Illinois
Fare Increase.
-In Dec. 1920 the company was auth. by the Wisconsin
Terminal Ry. companies (formerly owned by the United Light & Rya. Co.)
acquired and merged with the Davenport & Muscatine Ry., forming Railroad Comm. to increase cash faros to 10 cents. V. 111, p. 2125.
were
M
Interest. Outstanding. Maturity.
Date.
STOCK AND BONDSthe Clinton Davenport & Muscatine Ry. All of the 81.063.000 1st the
$2,100.000
Common $2,500,000
bonds of the Iowa & Illinois !Sy. outstanding have been acquired by
7%
2,100,000
Railway & Light Co. In Sept. 1920 the United Light & Power Preferred 79' cum,$2,500.000. ____
Tr -City
been 1st lien & ref M Ser "k" $15, 1922 6 g A-0
5,495,000 Oct 1 1952
Co. and the Watchtower & Campbell's Island Park Co. which had
000.000 ($100. $500 and Int. in New York, Chicago and Milwaukee.
owned by the Tr -City Ely. Ss Light Co. were dissolved. V. 111, p. 1084.
c*.tf
$1,000) gold
Sub Cos. Consolidate.-Tho Tri City Ry. of III., in June 1920, was auth. by
2,438,000 Jan 1 1942
Ise Pub Serv Co 1st M & ref 1912 5 g
the III. P. U. Comm. to purchase the tracks and equip. of the Moline Rock
$15.000.000 g ($1.000)c*.tf Int. at Wisconsin Tr. Co.. Milwaukee, trust
Island & Eastern Trac. Co. The former co. issued $195.000 bonds in
427,000 May 1 1935
5 g M-N
neon Bay G & E 1st & ref M 1905
connection with the consolidation. V. 110, P. 2488. Compare V. 110.
$750,000 gold ($1,000)__c* Int. at Wisconsin Tr. Co., Milwaukee, trust
p. 972.
lien & re . mtge. "Series A" Os, in addition to being a
Bonds.
-On July 20 1920, fares on the Rock Island, Moline, first lien-The first the company's properties, are secured by pledge of all
Increases.
Fare
on part of
East Moline and Silvis lines were raised from 7 to 8 cents. Shortly after the outstanding bonds and 99% of the capital stock of the Menominee &
e
that, the, rate, were increased to 10 cent, cash, but monthly tickets are Marine'te Light & Trac. Co.. and $1,308,000 Wisc. Pub. Serv. Cp. 1st
-cent fare during month for
cents each, entitling holders to a 5
sold at 50
Mtge. 55. Maintenance, depreciation and improvement fund provided
which issued. V. 111, p. 589. but see V. 112, P. 373. In Sept. 1920 the for. Are
all or part, any time on 60 days' notice at 107% and
company began charging a 9-cent fare in Davenport. In April 1922 a int. on or redeemable, 30 1932; at 105 and intere, Oct. 1 1932 to and incl.
t
before Sept.
in effect.
-cent fare was
10
Sept. 30 1942; and thereafter at 105 leas ti of 1% during each year to maIn Feb. 1922 issued $1,000,000 1st & ref. mtge. 5% bonds for the purpose turity. Pennsylvania and Connecticut personal 4 mills tax and Mass
the co. for con- chusetts income tax on the intere4 not exceeding 6% refunded. V. 115, p.
of retiring certain underlying bonds and for reimbursing
struction expenditures. V. 114. p. 855, 949.
1631. Wisc. Pub. Serv. Co. 1st & ref. 5s are subject to cr11 on any interest
aequialone and to retire
Interest. Outstanding. Maturity, day at 105 and int. Remaining bond , are for V. 94, p. 1697. $1,308,
STOCK AND BONDS- Date.
underlying bonds under certain restrictions. See
See text
$9.000.000
Common 89.000.000 ($100)..
000 are pledged under the Wiic. Pub. So:•v. Corp. firit rieu & ref. mtge. 6s,
3.000,000 Oct.'22 l
8 Q-J
Prof 83.000.0006% cum (8100)
Series "A.." Sinking fund of 2% on bonds outstanding began in 1917.
3.614,000 April 1 1923
5 g A-0
Coll trust first lien mortgage, 1906
The Green Bay Gas & Electric bonds aee subject to call at 105 until 1924;
$9,000.000 a f__._c&rtf'Int. at N. Y. Trust Co.. N. Y.. Trustee thereafter at par; $95,000 have been paid and canceled. $228,000 are
14,778,000 July 1 1930 pledged as additional security udder the Wisc. P. S. Co. 1st 1s1. & ref. bonds.
1st & ref mtge $20,000,000 gl 1910 5 g J-J
$500&$1,000c*&$1,000rstf/Int. at Cent. Union Tr. Co., N. Y., Trustee.
EARNINGS.
-Of Wisconsin Public Service Co. properties for 12 mos.
54.000 Sept 1 1922 ending Dec. 31:
5 M-S
Tr -City RaUway 1st M_-_-tf 1902
Bal.,for
Int.,
1 1932
400,000 Sept
Iowa City Light & Power 1 1912 5 M-S
Net (after tax.) Rents. &c. Depr..ct c
Gross.
Yearrefunding mortgage ($1,- Interest at Continental & Comin'll Trust &
$299,080
$177,842
$476.922
81,476,130
1921
cstf I Say. Bank, Chicago, Trustee.
000,000 ($1,000)
12,937
233,470
216,407
1,223.689
See text 1920
201,500
6 M-N
Iowa City Gas & Electric 1st! 1909
-Owns and operates all lines In the city of Green Bay; also
ROAD, &c.
Int. at Chic. Tr. & Say. Bank, Trustee.
_
mortgage $400,000
Duck Creek and a
a line from Green Bay to East De Pere, and branch to
line from Green Bay to West De Pere, Little Rapids, Wrightstown and
Stock.-Pref. stock is redeemable at 120 and accurn. dive. See V. 827
Kaukauna; total. 43.14 miles of track. 70 and 85-lb. "T" and girder rail;
p• 1213. Listed on Montreal. Toronto and Louisville Stock Exchanges.
Owns 22 cars, leases 10: total, 32 cars.
Bonds.
-Of the $9,000.000 coll. trust bonds, 82.250.000 have been retired
-Ps.. 0. R. PheOFFICERS.-Pres., Clement C. Smith. Milwaukee; V.
by sink. fd. Subj. to call on any int. date at 105 and int. A sinking fund
Iloward Greene,
of $50.000 per ann.from Jan. 1 1908 to 1913; $150,000 for succeeding 5 years Melo, Green Bay, and J. I'. Pulliam, Milwaukee; Sec..
Mackay; Gen. Mgr., J. P. Pulliam. Milwaukee.
then 8250,000 per ann. to maturity. Coupon bonds are in denomination Milwaukee; Treas., H. C.
of 81.000 and registered bonds in $1,000. $5,000 or $10.000 and multiples -V. 111, p. 2719; V. 115, p. 75, 1322, 1531, 1634.
They are listed on N. Y. Stock Exchange. Of the 1st & ref. bonds. suf
ficient are reserved for prior liens, and remainder for 85% of cost of ad
ditfons and improvements. Subject to call at 105 and int. on any int. date
GREENFIELD, MASS.
Sinking fund of 1 ti % of bonds out begins Feb. 11924. Penna. 4-mill tax
refunded on $1,000.000 of these bonds. V. 93, p. 1465: V. 114, p. 855, 949.
MASSACHUSETTS CONSOLIDATED RAILWAYS.
bonds are owned by Un Lt.& isys.00.
$10,577,000 of outstanding 1st & ref.
-Organized in Boston on Nov. 16 1911 as the MassaORGANIZATION.
All the outstanding Iowa City Gas & Elec. Co. let Mtge. bonds are
name was changed to the Mamaowned by TH-City Ry.& Light Co. They mature serially $4,000 to $9,000 chusetts Northern Rys. In May 1913 voluntary association managed by
$135,000 in 1928. Subj. to chusette Consolidated Railways. Is a
annually from May 1 1912 to May 1 1927 and
Controls through
call at 105 and int. on any int. date. Additional bonds may be issued for aboard of seven trustees. V.93. p. 1462. 1599. 1787.
80% of cost of extensions and betterments. $1,500 owned by Un. Lt. stock ownership the following companies:
I Millers River Street Ry. (proposed).
Concord Maynard & Hudson St. By.
& Rys. Co.
!Northern Massachusetts Street Ry.
Connecticut Valley Street Ry.
Dividends -First dly. on pref.. 13i %, paid July 1906, and 134% quer.
The system comprises 114 miles of road, serving 20 cities and towns in
Oct. 1922. A dividend of 1% was paid on the com- Central and Northern Massachusetts. Both passenger and express service
since to and including
mon stock Jan. 11916 (practically all of this stock is owned by United Light are provided. Rights of way have been partly secured on the proposed line
& Ry. Co. and previous disbursements were not made public), and quer
from Orange to Millers Falls.
Outstanding. Last Div.
to and incl. Apr. 1918. In 1919, 5%. In 1920, Oct., 1%. In 1921, 4%.
SharesSee text.
81.619.900
Common $1,640.300 ($100)
-Operates over 170 miles ofstandard-gauge track, connecting the ['ref $1.100.000 ($100) cum (see text) Q-F
ROAD.
See test.
704.600
cities of Clinton and Davenport. Iowa. and Rock Island, Moline and East
STOCK -Additional pref. shares only to be issued when net earnings for
to Muscatine placed in operation n
Moline, Ill.; including an extension
-lb. girder and 80 to 75-lb. T rail.
12 mos. ending not more than 180 days prior to date of issue shall have beet
1912 and city lines in Muscatine. 80
134 times amount necessary to pay diy. on shares out and applied for.
-P., Richard SchaddeOFFICERS.-Pres., B. J. Denman, Davenport; V.
Divs. on pref. are 5% to Nov. 11914. Incl.; 5 Si % to Nov. 1 1917.. Incl..
Frank T. Hulswit; Sec., and 8% thereafter. In case of liquidation pref. is entitled to $110 per share
-P.. H. E. Weeks:
lee, Grand Rapids; V.
Treas..
H. E. Littig.-V. 112, P. 373, 2750; V. 114, P. 628, 855, 949, 2826.
up to Nov. 1 1914.$115 to Nov. 1 1917 and $120 thereafter. V.93, p. 1599.
Dividends.
-On pref., 1912 to 1914. 5% per annum. In 1915 and 1918.
(8) Cedar Rapids & Marion City Ry.
54%. Feb. 1917 div. passed. None since. On corn., a div. of ti%
ORGANIZATION.-Incorp. May 1891 in Iowa. Franchise in Cedar was paid Oct. 15 1913. None since.
Note Pref.Div. Balance.
Net
Rapids expires 1941 and indeterminate on interurban. The United Lt
ExGross
EARNINGS.
Year ending& Rys. Co. owns $584,801 stock and $793,000 bonds.
Income. penses. Income. Interest. (534 %). Deficit.
$11,419
None
$11,766 $23,186
$2,896
Dec. 31 1920___ _814.663
Interest. Outstanding. Maturity
STOOK AND BONDS- Date.
11,753
None
20.808
9,055
2„570
Dec. 31 1919 _ _ -- 11,625
Stock $1.000.000(3100)_
13,450
None
22.244
8,794
2,896
Dec. 31 1918-- 11,359
50 0
793 0 0
" : 00 Juno 1 1930
7 J-D
1 1920
1st mortgage series"A"
Combined Earnings of Subsidiary Companies.
(New York Trust Co., trustee.
Net. Int.&Taxes.Pf.Div Com.Div. Balance.
Year ending- Gross.
-All the outstanding bonds are owned by United Lt. & Rys.
Bonds.
def.$98,884
These bonds were issued in 1920 at which time an issue of $184,000 1st Dec. 31 1920_ __-$647,921 $34,055 $132,938
sur.9,804
Dec. 31 1919._-__ 642,718 143,826 134,021
Mtge. 5s due in 1931 were retired.
def.94.652
Dec. 31 1918--_- 526,805 37,925 132,577
-Owns and operates road 28.90 miles in length, extending from
ROAD.
OFFICERS.
-Sec.& Treas., D.P. Abercrombie Jr.; Greenfield, Mass.
Cedar Rapids, Iowa. to Marion; second track, 2.28; sidings, 3.17; total of
V. 100, p• 1168, 1671; V. 101, p. 1702; V. 106, p. 2011; V. 115, p. 1321.
all, 28.90 miles. Rails. 45. 80 and 80-lb. T.
-A trolley road.
(4) Mason City & Clear Lake Railroad Co.
In Feb. 1913 the United Light & Rys. Co. acquired control.
-A trolley road. Operated since July 1897.
ORGANIZATION. ETC.
Owns right of way 33 feet wide from Mason City to Clear Lake. 9 miles
Length of line within and between the two cities, 18.8 in. Handles all
freight coming over Minn.& St. Louis, Chic. R. & Pee.. Chicago & North
West. and Chic. Great %Vest. railways between Mason City and Clear Lake
Franchises run until Oct. 31 1935.
-In Sept. 1920 fares were raised to Scents. In Aug. 1921
Fare Increase.
-cent cash fare was put into effect, but monthly tickets are sold at 50
a 10
entitling holders to a 5-cent faro during month for which issued.
cents each,
840,rest.
Interest. Outstanding. Maturity
STOCK AND BONDS- Date.
Stock 81,000.000
316,000 June 1 1932
1912 6 g J-D
General mortgage $2.500.0001
_et(f Int. at First Tr. & Say. Bk., Chic., Trustee
gold ($1.000)
extensions and betterments at 76% of
-Remaining bonds are for
Bonds.
Cost, providing annual net earnings are 14 times int. charge (incl. bond,
to be issued). Red. at 105 and int, on any int. day. Sinking fund of 2%
,
per annum began Juno 1 1913 to provide for additions and betterment
or for purchase of bonds. $10,500 of outstanding bonds owned by U. L.
p. 1764.
Co. V. 94,

GREEN BAY, WIS.
WISCONSIN PUBLIC SERVICE CORPORATION (Controlled by
-S03 under "Milwaukee.")
Wisconsin Securities Co.
ORGANIZATION.-Incorp. in Wisconsin in 1922 as a consolidation of
Public Service Co. (for history see "Electric Railway" SuppleWisconsin
Co., Sheboygan Gas Light Co.,
ment of April 29 1922), Oshkosh Gas Light
& Northern
Calumet Service Co., Peninsular Service Co., Manitowoc all the bonds
other connected properties. Owns
Traction Co. and certain
of the Menominee &
and over 99% of'he capital stock includes five electric Marinette Light &
generating plants,
Traction Co. Physical property
w., of which 12,000 k. w. ie
aggregate installed normal capacity of 28,600 k. capacity of over 52,890
c; 23 substations with transformer
hydro-electri
transmission linos, also distribution
k. w.; 349 miles of 3-phase high tension manufacturing plants, combined
lines. Gas properties include four gas
4,900,000 Cu. ft. Furnishes electric light and power to
daily capacity
(Mich.), Chilton, Brillion.
Oshkosh, Green Bay, Marinette, Menominee in Manitowoc, Two Rivers,
p., or
Sells electric power in lots of 40 h.Bay. over electric power to municipal
Sells
Sturgeon
Kewaunee, Algoma and
Bay, New Holstein
plants at Two Rivers, Kewaunee, Algoma, Sturgeon
Oshkosh, Green Bay,
and Kaukauna. Furnishes gas to Sheboygan,
(Mich.). Owns hydro-electric plants
DePere, Marinette and Menominee
Menominee River,
atiHigh Falls on the Peshtigo River and Ingalls on Furnishes city street
steam plants at Manitowoc, Oshkosh and Green Bay.
Marinette, and Menominee
railway service in Green Bay, Manitowoc,
(Mich.). Interurban lines connecting Green Bay with Kaukauna and connecting Manitowoc and Two Rivers.




(1) Connecticut Valley Street Ry.-Trolley. The Maas. Cense!.
Rys. owns 4,996 shares of the common stock.
-In Dec. 1921 a petition was presented to the
Petition for. Receiver.
Supremo Court at Boston, asking the court to appoint a receiver for the
company. V. 113, p. 2719.
-Incorporated in 1899. Commenced Jan. 22 1900.
ORGANIZATION.
Is a consolidation on April 1 1905 of the Northampton Sz Amherst Street
Ely., the Greenfield & Turner's Falls Street Ry. and the Greenfield Deerfield
Ss Northampton Street Ry., 118 per plan in V. 80, p. 1111.
In May 1915 the Governor of Mass. signed a bill authorizing the Northern
Mass. St. Ry. to absorb the company by consolidation or purchase
.p
V. 106.1833.
-On June 19 1919 was auth.
Authority to Operate Motor Vehicles Granted.
by the Mass. P. S. Comm. to acquire and operate passenger motor vehicles
between Greenfield and Montague. V. 108, p. 2528. See also V. 115, p.
1320.
-In Sept. 1918 filed with the Mass. P. S. Comm. a tariff, effective
Rates.
47 zones,
Nov. 4 1918, under which the system was divided intoeach zone, each
approximating 1 mile long, the rate of fare to be 3 cents in filed withwith
the
In Oct. 1918
a 6-cent minimum charge. V. 107, p. 1099.
Mass. P S. Conan. a local and joint (Sage freight rate and minimum tariff
25%. Effective July 13 1920 was auth. by the
increasing rates by about
Mass. Dept. of P. U. to increase fares from 6 to 10 cents, tickets to be
sold at 734 cents each. V. 111, p. 492.
Interest. Outstanding. Maturi y.
Date,
STOCK AND BONDS$500.000 Dec '16. 1%
Stock, corn. 8500.000 ($100)See text,
120.000
M-S
Pref.$120.000(8% cum)($100) ---120,000 July 1 1923
5 g M-S
Connecticut Valley St By 1st! 1900
Int. at Old Colony Trust Co., Boston. Trust.
mort gold ($1.000)..e_ntfl
s u i y1
TrustC0_
5 g M-5180,0000ion. T
Northam & Arah 1st intge.1 1900
Trust.
8180.000 g (31.000)._c_ntf Int. at Old Colony
150.000 July 1 1923
5 g J-J
Greenfield Deerfield & North 1 1903
first mon, $150.000. gold Int. at Mercantile Trust Co., Boston. Trust.
called
$1.000 and $500) __es .ritf i No sinking fund and bonds cannot be 1
130.000 June 1923
5 g J-D
Green&Turn isallsconstn $13041903
Co.,:3
000 g ($500, $1.000) c*.ntflInterest at Beacon Trust : 8 Boston. True.
Notes payable Aug. 1 1921
Bonds.
-The Northampton & Amherst bonds are subject to call at 105
on 4 weeks' notice. AN are the bonds of the Connecticut Valley Street Ry,
Both Issues originally matured Sept. 1 1920 but were extended to July 11923.
The $120,000 Connecticut Valley bonds were issued under the first mtge. of
the Northamp. & Arnh. St. Ry.. which was originally drawn for 8300.000.
-On pref., 3% semi-ann. since Sept. 1910 to and incl. March
Dividends.
1918 (paid May 11918). None since. On com., in 1906 (year end. Sept.
2%; in 1907,29'; in 1912.1%; in 1913, 2470: in 1914, 3%. In 1915,
30).
Feb., 4%; May, 3%; Aug., 4%. In Dec. 1916, 1%.
EA RNINGS.-For calendar year 1920.gross,S303,758;net,S23.158;
lot. and taxes, $56,960: bal., def., $33,802.
-Owns and operates 47.051 miles of track between Miller's Falls
ROAD.
Turmer's Falls, Greenfield, Northampton and Amherst. 41 passenger
•ars. 2 snow-plows 5 other cars and 134 electric motors.

56

ELECTRIC RAILWAYS

OFFICERS.-Pres., C. W. Haze1ton; V.
-P. & Gen. Mgr.. D. P. Abercrombie Jr.; Treas., F. A. Persons; Supt., J. A. Taggart.
-V. 107, 1099.
V. 108, p. 2528; V. 111, P. 492; V. 113, p. 2719; V. 115, p. 1320. P.
(2) Northern Massachusetts Street Ry.-The Massachusetts Consol
Rys. owns all the common stock ($350.000)•
Petition for Receiver,
-In Dec. 1921 a petition was presented to the
Supreme Court at Boston, asking the Court to appoint a receiver for the
Company. V. 113, p. 2721.
ORGANIZATION.-Incorp. In Mass. on July 1 1894 as the Athol dc
Orange Street Ry. Name changed to above on May 11913. In Jan. 1913
purchased the property and franchises of the Templeton Street Ry. and on
Mar. 1 1913 absorbed the Gardner Westminster & Fitchburg Street Fly
As a result of these acquisitions, stock was increased from $74,500, all of
one class, to $500,000,of which $150,000 is 6% cum. pref. stock.
The Governor of Mass. In May 1915 signed a bill authorizing the company to absorb the Connecticut Valley St. key, by consolidation or purchase. V. 100, P. 1833.
Rates.
-In May 1918 was auth. by the Mass. P. S. Comm. to eliminate
the 5-cent fare limit and to adopt zones of about 1 mile in length with a fare
of 5 cents for the first 3 zones or fraction thereof and 2 cents for each additional zone. V. 106, p. 2011. In Oct. 1918 filed with the Mass. P. S.
Comm. a local and joint class freight rate and minimum tariff. increase,,
rates by about 25%. V. 107, p. 1482. Effective May 3 1920 the co. w i.•
authorized by the Mass. Dept. of l'ublic Utilities to increase the minimu a
rate of fare to 10 cents, good for 2 zones, with 5 cents for each addition.
zone. Number of zones was reduced from 42 to 25 but length of eac
extended. V. 110,p. 1973.
In Aug. 1922 the co. was auth. by the Mass. Dept. of P. U. to own an I
operate jitney buses in the town of Athol. V. 115, p. 1100. See also V.
115, p. 1321.
The int. due Feb. 1 1920 on the $185,000 Gard. Westmin & Fitchbur
let M. 5e was paid, but the prin. also due on that date had not been psi
up to Sept. 28 1921 and no definite agreement as to extension had beei,
made. Int. on this issue, we understand, now accrues at 6%. V. 110. p.
1849.
STOCKS AND BONDS- Date.
Interest. Outstanding. Maturtit„
Common $350,000
$350.000 In'14-'15.2'a
Pref 6% cum $150,000_______
150,000
Q-F
See text
1st & ref M $500.000 41.000 f 1913 5 g M-N
315.000 May 1 194:'
red'l on 434 % int has _esti Int. at American Trust Co.. Boston. Trustee
Gard Westm & Fitchburg 1st 1900
5 F-A
185,000 Feb 1192'
mtge ($1.000) gold__csntf Int. at Old Colony Tr. Co., Boston. Trustee
Netee nayable Aug. 1 1921360.710
E esueas.-Of the $500,000 1st & ref. bonds, $185,000 are reserved tr
retire an equivalent amount of underlying bonds. No sinking fund.
Diridends.-The Aug. 1917 div. of 134% on the pref. stock was deferred
None since.
k le k
lea
EARNINGS.
-For cal. year 1921, gross, $235,866; net, $14,516; deductions. $46,060; bal., def., $31,544.
ROAD.
-47.7 miles of track.
-V.113, p. 2721; V. 115, p. 1100, 1321.
(3) Concord Maynard & Hudson Street Ry.-A trolley road. Th.Mass. Consol. Rys. owns 2.319 shares of the stock.
Receivership.
-On Doc. 20 1921 D. P. Abercrombie was appointed receiver for the co. V. 115, p. 72.
ORGANIZATION.
-Organized In Massachusetts Mar. 27 1901. Acquired Concord & Clinton St. By. Feb. 11902. On Aug. 25 1911 acquired
Lowell Acton & Maynard St. Ry. V.93, p. 1786. Franchises perpetual.
r, Default-Protective Committee.
-The co. defaulted on the payMent of both
prin. and int, on the $230,000 1st Mtge. 5s due July 1 1922. A protective
committee has been formed and has called for deposits. The committee
is headed by A. F. Drummond, Treas. Waterville (Me.) Saving Banks.
V. 115, p. 72.
.
1 7roCK AND BONDS- Date.
Interest. Outstanding. Maturity
Stock $235,000 ($100)
$235,000 See earnings
1st mortgage $250,000 gold _ -I 1902
5 g J-J
230,000 July 1 1922
($1.000)
c&rntf 11-nt. at Amer. Trust Co., Boston, Trustee.
.
Notes payable Aug. 1 192110(1.73(i
ROAD.
-Owns lb I/Alas Of17;73tietween oncord. Maynard, Acne.
Stow and Hudson. At Concord connects with Lexington & Boston, and
at Hudson with Worcester Consol. and Boston & Worcester.
in. EARNINGs.-For cal. year 1920, gro.e. $77.909, net, der., $.794
int, and taxes, $22,477; bal., def.,$28,444-V. 113, p. 2719; V. 115, p.72
(4) Millers River Street Ry.
Rights of way have been partly secured:on this company's proposed line
between Millers Falls and Orange.

GREENSBORO, N. C.
NORTH CAROLINA PUBLIC SERVICE CO.
ORGANIZATION.
-Chartered In North Carolina in 1909. Purchased
the Greensboro Elec. Co. and Greensboro Gas Co., the electric light plant
of the High Point Elec. Power Co. and the street railway system in High
Point. In 1913 built gas plant and distributing system in High Point
In 1911 acquired majority of the stock of Salisbury & Spencer Rye Co..
which company it also leases for 50 years. V.93. p. 1324. Does entire gas
electric-light and power and street railway business of Greensboro (and its
suburbs of Proximity, Revolution, White Oak and Pomona). Salisbury,
Spencer, East Spencer and High I'oint and street railway business of
Concord. le 1910 franchises had the following number of years to run
Greensboro. 28 years; High Point, 59 years, Salisbury. Spencer, East Spencer and Concord. 60 years; also has a 30
-year franchise in Guilford County
and township.
Changes in Stock.-Sbarebolders on May 15 1917 voted to reduce the
$3,322,900 common stock to $1,500,000 by the exchange, pro rata, of
$500,000 pref. stock authorized for the purpose, said pref. stock to bear
4% div. the first year, 5% the second year and 6% thereafter. Holders
of each 100 shares of existing stock received in exchange 15 shares (plus fraction) of new pref. and 45 shares (plus fraction) of common stock. This
action results in considerable saving in State and Federal taxes.
p Decision.-For decision holding that the Southern Power Co. could not
refuse to sell electric current to the co. for re-sale, see V. 115, p. 309.
n"raTe nrc7ibeeis anthorized by the C(7mmissioner;ii the City of
Greensboro to abolish all reduced-rate tickets and establish a straight 5
-cent
fare. The N. C. Corp. Comm. auth. the co. to increase fares to 7 cents
with 4 tickets for 25 cents, effective Dec. 1918, and to increase its charge
for gas in Greensboro 25c. per 1,000 Cu, ft. V 108. p. 269. In Nov. 1920
the co. was auth. by the Concord (N. C.) Board of Aldermen to charge an
8
-cent cash fare in Concord, tickets being sold at 4 for 30 cents. V. III,
P. 1950. On July 11 1921 cash fares in that city were esieed to 10 cents.
Compare V. 113. p. 533; V. 112, p. 2749.
Interest. outstanaing. Maturity
STOCK AND Bois DSDate.
$1,500,000
Common $1.500.000(UM- ---See text
521,100
Preferred $1,000.000 ($100)__
Greensb El Co 1st M gold I 1902
169,500 April 1 1932
5 g .A-0
($500 & $1,000)
ctf lint. at Equit. Tr. Co., N. Y trustee.
30.500 June 1930
Greensb El Co ref & impt 1 1905
5 g A-0
M (MO & $I .000)__ _ _ctf lint. at Bankers' Tr. Co., N. Y.. trustee.
First &retie 43,500.000(1004 1909
2,162.900 Apr 1 1934
5 A-0
$500 and $1.000).. e.&r* Mint. at Equitable Trust Co., N. Y., trustee
Sallsb & Spen By let M gold 1905
836.000 May 1194.
5 g M-N
$1,000.000 ($1.000)__cstfi Int. at Mich. Trust Co., Grand Rapids
( trustee,. or Equitable Trust Co.. N. Y.
3
-year 8% notes
8F
-A
100,000 Aug 1 1923
1920
Boria3.- tit the 1st & ref. mtge., $200,000 are reserved to retire lie,
amount of mortgage bonds of Greensboro Elec. Co. and $841,000 are re
served for future impts. and acquisitions under proper limitations. V. 88
p. 1128; V. 104, p. 2343; $46,160 canceled for account of sinking fund
$332,700 held in treasury. Subj. to call on an) int. date at 105 and
int. Sinking fund of 1% per annum of gross inceree July 1915 to 1919:
% July 1920-1924, and 2% 1925 to maturity. The remaining $108,000
Salisbury & Spencer By. bonds are reserved for futurr extensions and
impts. $56,000 are held in treasury. Are guar., p. & I. by the North
Carolina Public Service Co. Redeemable at 105 and Int on 6 months'
notice.
Dividends
of 2% paid on pref. stock Jan. 1918; July 1918, 2%;
JanA 1919,i 2M%; July11919.12ee%; Jan. 19203.3%1July11920, 3%; Jan.
1921. 3%1Julye1921,13% Van.1192213% •




[Vol.. 115.

EARNINGS.
-For years ending March 31:
Calendar Year- Gross.
Net after Taxes.
Interest.
Bat., Surp.
1922
$1,165,787
$339,913
$182,336
$157,577
1921
1,063,969
319,405
181,398
135,007
ROAD.
-Owns 27.62 miles of track. 60 and 70-lb. T and 90-lb. girder
rails. Standard gauge. 39 cars, 15 new "Safety One Msen" cars were
Installed in 1917. Connecting extensions between the Tarious cities
are proposed. Electric plants capacity 2,800 horse power (also purchases
power from Southern Power Co.); 166 miles transmission lines.
capacity 820,000 cu. ft. per day. 68 miles of mains; electric light Gas plants
customers.
5,232; power, 7,536; gas, 4,598.
OFFICERS.-Pres.,0. B. Role; V.
-P., Wescott Roberson; Sec.& Treas.,
L. H. Hole Jr.; Gen. Mgr., R. J. Hole.
-V. 114,p. 2580; V.115, p. 309.

GITLFPORT, MISS.

OUIPPORT & MISSISSIPPI COAST TRACTION CO.
ORGANIZATION.-Incorp. in Mississippi in 1905. Consolidation of
the Biloxi Electric Fly. at Power Co. and tne Gulfport Development Co.
In 1907 increased auth. stock from $1,000.000 to $2.000.000.
Fare Increases.
-In Aug. 1920 the municipal authorities of Biloxi. Gulfport and Pass Christian, Miss. auth. the co. to increase fares in these cities
from 6 cents to 7 cents per zone. V.111, p. 588.
STOCK AND BONDS- Date.
Interest. Outstanding. Maturity.
Stock $2,000,000 ($100)_
$1.949.300
let mort $1.000.000 gold 1905
6 g A-0
1,000,000 Sept 30 1935
($1,000)
tf Int. at Hibernia Bk.& Tr. Co.. N.On.,Trus
2d M gold ($1.000)____ctf 1907
6 g J-J
692.000 July 1 1932
Hibernia Bank & Trust Co.. Trustee.
Bil. El. Ry_. & P. lst mtge..g. 1903 6 g J-J
121,400 Jan 1 1924
( 1 0. $a00 & 51,000)
tf Int. at Hibernia Bk.& Tr. Co.. New Orleans
1st int coupon debentures __4 _-_f
6 A-0
145,140 April 1 1927
lint, at First Nat. Bank, Gulfport.
2d interest coupon debentures( ____
6 A-0
100.320 Oct. 11929'
lint. at First National Bank, Gulfport.
Bonds.
--The bonds of 1905 are subject to call on Oct. 1 in any year at
105; no sinking fund. Interest on 2d mort. is payable at First
Gulfport. Bonds have no s. f. and are not subject to call. Nat. Bank.
The Biloxi
Electric Railway & Power bonds are subject to call at 106 and Interest.
EARNINGS.
-For years ending Dec. 31:
Gross.
Net.
Taxes. Interest. Bal-Def.
1921
$507,428 $85,887 $18,066 586.056 $18,235
1920
471,143 23.282
18,203
84,683
79,604
ROAD.
-Operates 13 miles of track from Gulfport to Biloxi and 11 miles
from Gulfport to Pass Christian; also 6 miles of track in Biloxi: total. 30 m.
OFFICERS.-Pres., W.T. Stewart; V.
-P.. Mr. G. E. Stewart: Sec. &
Treas., Ifubert H. Tippin; Comp., J. E. Gordon, all of Gulfport.
-V.83,
p. 95; V. 105, p. 290; V. 111, p. 588.

HA GERSTO WN, MD.

POTOMAC PUBLIC SERVICE CO.
Control.
-As of July 19 1922 the American Water Works & Electric Co.
had acquired over 95% of the corn, stock of the co. by purchase at $30 per
share. V. 115, p. 437. Compare V. 114, p. 2825.
ORGAN1ZAT1ON.-Incorp. Apr. 7 1913 in Maryland as a consolidadon of the Frederick RR., Frederick Gas & El. Co., Myersville & Catoctin Ry.. Hagerstown Ry., Hagerstown 8z, Boonsboro RR., Hagerstown &
Myeraville RR.. Hagerstown & Northern ER. and Frederick & Hagerstown
Power Co. V.96. p. 947. 1422. In 1914 purchased properties of the Frostburg Ilium. & Mfg. Co. In 1916 acquired control of the Potomac Lt. &
Pow. Co., Martinsburg. W. Va.-but see below (V. 104. p. 163). Formerly
known as Hagerstown & Frederick By. Co., but name changed to present
title in April 1922. V. 114, p. 1652. Franchises are perpetual or extend
at least 15 years beyond life of bonds.
On Nov. 30 1917 acquired control of the Chambersbura Greencastle &
Waynesboro Street Ry. Co., which see below, and issued 5300.000
trust 5% gold note; In connection therewith. V. 105, p. 2365. collateral
On May 19 1919 the Shenandoah Co. purchased the
capital stock
of the Northern Virginia Power Co. and on Oct. 15 entire the Potomac
1920
Public Service Co. purchased the stock of the Shenandoah Co. Transmission lines connect all the different properties of the co. In 1921 the Northern Virginia Power Co. acquired control of the Potomac Light & Power Co.
from the Potomac Public Service Co. C. 112, p. 1399.
On May 7 1917 the shareholders unanimously approved the
presented by the voting trustees providing (a) for the retirement ofplan then
the
existing $1,225,000 5% convertible adjustment bonds, 5635,000 7% corn.
pref. stock and $2.000,000 corn. stock;(b) issuance in lieu thereof of $600,000
-year 6% notes, 5842.5006% cum. pref. and 51.512,950 new
10
The voting trust, Frank A. Furst Henry Holzapel and William corn. stock.
H. McCardell, trustees, was dissolved. This plan was consummated on May 9 1917.
On Feb. 7 1922 the stockholders voted to increase the auth. amount of
pref. stock from $1,500.000 to $5,000,000 and increased the div. rate as of
Feb. 1 1922 from 6 to 7%. V. 114, p. 626, 1062.
In April 1922 issued 52.155,000 1st & ref. mtge. bonds bearing 7% int.
V. 114. p. 1767. Compare V. 114. p. 1651.
Fares.
-In July 1918 increased zone fares from 5 to 7 cents. Effective
Sept. 27 1920 interurban fares were raised to 8 cents per zone, city fares
remaining unchanged. V. 111. p. 990, 1752.
Valuation.
-As of March 1 1921 the replacement value was estimated at
$7,608.705 by Messrs. Sanderson & Porter.
STOCK AND BONDS- Date.
Interest. Outstanding. Maturity.
Common $2,000,000 ($50)31.512.950
Pref 7% cum 85.000.000 ($50)
1,401.000
1st & ref MS10,000,000($100,1 1914 8-7 g A-0
4,934.700 Apr 1 1944
$500 & $1,000) g s f.c_cpt!Fidelity Tr.Co.,Balt..Tr. Int.pay.in Bait.
Hager & Myers fry $125,000__ 1904
120.000 July 1 1924
5%
Etagere & Nor RR 1st mtge 1908
5 g F-A
200,(t00 Mar 1 1927
)
d
cold ($1.000. $500(Int. at Maryland S.& Tr. Co., Hagerstown.
and
eel Trustee. Wm.Jennings.
Fred & Middletown 1st mtgef 1905
126.000 Dec 1 1935
5 g J-J
$250,000 gold ($1,000) _ciFidelity Trust Co.. Baltimore, Trustee.
Fred Gas & Elec lst M $200.- 1904
5 J-J
179.000 July 1 1929
000 g ($500&51,000) g,p&I Interest at West End Trust Co., Philald9e215Fred
by Fr RR ; not sub to call
p.
piths. Trustee.
Monocacy Valley By first 1908
5%
30,
000
mortgage
Steiner Schley & Leonard Waesche of Frederick, Md., Trustees.
Frostburg III & Mfg 1st MI 1899
5 J-J
50,000 July 1 1929
-year bonds
30
Int. at First Nat. Bank, Frostourg. Md.
Collateral cold notes $300,000c 1917
5 M-S
250,000 Sept 1 1932
Notes, gold coupon
1917
6%
1,000,000
1927
Stock.
-The pref. stock is redeemable at par and dividends. Originally
was cum. at 6%, but as of Feb. 1 1922 div. rate was made cum. at 7%.
V. 114, p. 626.
Bonds.
-Of the 510.000,000 mtge. 5705.000 are reserved to retire
prior liens. and $4,218,000 for additions, impts. Ric.. under certain restrictions (V. On. p. 1694; V. 104. p. 163). Of the $4,934,700 outstanding
52 720,000 are 6% bonds and 52,214.500 (issued meler supplemental
Indenture in 1922) bear interest at 7%. V. 114. p. 1767. Sinking fund
from Oct. 11919, payable semi-annually; till Oct. I 1926. 1% of 1st & ref.68
and prior liens; 1927-1934. 2%: 1935-1944, 3%. Red. at 105 and int. on
any int. date. Tax refund in Penn. and Conn. Hagerstown & Norf. RR.
bonds are subject to call after 1917. Fred. & Midd. bonds are red. at 105
on any int. date. Fred. Gas & Elec, bonds are guar., p. & i., by Frederick
RR.
Notes.
-The coll, trust notes of 1917 are secured by pledge of stock of the
chambersburg Greencastle & Waynesboro St. Ry. Co. which said notes
were issued to purchase. Sinking fund provides for retirement of $10,000
annually.
-For years rening Dec. 31:
os
het1tN IN G S.
d
YearGross.
Net.
Deductions.
Surplus.
1921
51,415.138
$591.827
5380 446
5212 38
151;3791
1920
1,240,174
448.046
295.667
946.352
384,243
288.324
95.919
ROAD.-Operates street railways in cities of Hagerstown and Frederick'
199
Md.. and an interurban railway extending from Frederick to Hagerstown,
with extensions from Frederick to Thurmont. Md.. also from Hagerstown to
Shady Grove. Pa..and with branch lines to Iloonsboro and to Jefferson, Md.
Mileage operated aggregates 87.5 miles. The controlled Chambersburg
Greencastle & Waynesboro Street Ry. operates 31 miles of track from Blue
Ridge Summit to Chambersburg. The extension from Chambershurg to
Red Bridge Park was leased to the Chambereburg & Shippenburg Ry. of
Charnbersburg. Pa.

57

ELECTRIC RAILWAYS

OCT., 1922.]

-Ps., Henry
OFFICERS.-Pres., Emory L. Coblentz. Frederick. Md.; V. M. Harris.
Holzapfel Hagerstown: F Howard Warfieid. Baltimore: C. & Aud., E.
Asst. Treas.
and Cyrus F. Flook; Gen. Mgr., R. Paul Smith; Porter, N. Y.
-V. 114,
Town. Is under management of Sanderson &
p. 1652, 1767, 2825; V. 115, p. 437.
Street Ry -On
(a) Chambersburg Greencastie Sr Waynesboro
Public Service
Nov.30 1917 the IIagerstown & Frederick Ry.(now Potomac
Co.) acquired control.
OROANTZATION.-Tncorporated in Pennsylvania on June 17 1901,
Owns the Waynesboro Electric Co. Capital, $50,000.
STOCK AND BONDS- Date. Interest. Outstanding. Maturite.
300.000
Common $300.000
-300.000
Preferred.S300.000 non-cum-----300,000 July 1 1933
First mortgage $300.000 gold 1903 5 g J-J
c tf Interest at Chambersburg Trust Co..Trustee
($100 and $500)
299.500 Oct 1 1937
5 g A-0
mortgage $3300,000 1907
Second
($100 and $500) gold cot( Int. at Chambersburg Trust Co., Trustee.
193,900 Apr 1 1940
5 A-0
lit ref mtge $1,000.000 ($100 1910
tf Int. at Chambersburg Trust Co.. Trustee.
and $500)
call.
Bonds.
-First mtge. bonds nave no sink. I'd. and are not subj. tofund
2d mtge. bonds are subj. to call on any int, period at 105. No sink.
Remaining 1st ref. bonds are reserved to take up underlying bonds and for
extensions and Improvements.
-Years ending Dec. 31:
EARNINGS.
Other Inc. Deduct'ns. Surplus.
Net.
Gross.
Year$30,657
$55,062
$7.708
$78.011
$310,796
1921
x11,310
53,470
2,548
62.232
32b.170
1920
x Entire amount charged off to depreciation.
-See Potomac Public Service Co. above.
ROAD.
-Ps.. W. L. Minick and
OFFICIF.R8 -Pres.. Emery L. Coblentz: V.
0. M. Harris; Sec., D. N. Benedict; Gen. Mgr., R. Paul Smith; Gen.
-V. 90, p. 236; V. 92, p. 186; V. 105.
And. & Asst. Treas., R. E. Town.
p. 388.

Jan. 1908 to Jan. 1913, incl.. 6% per annum. In July 1913 50% stock
div. paid; Jan. 1914 (reg.). 4%; July. 2%. In 1915. Jan., 3%• In Dec.
1917, 9%; in 1918, 10%; 1919, 10%; 1920. 11%.
-For calendar years:
EARNINGS.
Balance.
Net,aft.Tax. Bond.Int.,&c.
Gross.
Yearsur.$5,482
$21,143
$26,625
1921
$78.210
sur.17,297
21,142
38.439
88,412
1920
ROAD.
-Owns 11.9 miles of track in and between Hanover, McSherrystown, Littlestown and Conewago Chapel. Standard gauge. 65-1b. T and
girder rails.
-P., F. Helnbokel: Sec. &
-Pros., E. H. Ramsbothan; V.
OFFICERS.
Treas., G. L. Bascome.-V. 100, p. 1257; V. 103, p. 2340; V. 115, p. 307

HARRISBURG, PA.

HARRISBURG RAILWAYS.
ORGANIZATION.-Incorp. in Penn. on Nov. 29 1912 and merged the
Central Pennsylvania Traction Co.(see "Electric Railway" Section of Sept.
1912) and its subsidiaries. V. 96, p. 202.
-cent fare. In March
Fares.-Effective Oct. 1 1918, began charging a 6
1920 the Penna. P. S. Comm. dismissed a complaint against this rate.
V. 110, p. 970.
Interest. Outstanding. Maturity.
STOCK AND BONDS- Date.
$3.000.000
Common $3.000.000.
2.100.000 Oct.'22. 3%
See text
Pref 6% cum $2.100.000____
1963
3.169.900
First & ref. mtge $10,000.000 1912
5 J-J
($1.000 and $500)
tf Harrisburg Trust Co.. Trustee.
75.000 May 1 1924
Citizens' Passenger first mtge 1894
6g
Int. at Com'w'th Guar. Tr. Co.. Harrisburg.
$75.000 gold
STOCK.-Pref, stock was cum. at 5% until Jan. 1 1915; since, 6%.
7s•In
-3%% was °aid on ore. stock in 1913. In 1914. 56
Dividends.
4 in 1017
0
7
.151, :
Aoril. 2)4 %:Oct.. 1% In 1916 Anril 1 t4 0
Oct., 1%. In 1921, April, 3%. In 1922, April, 3%; October, 3%.
-For calendar years:
EARNINGS.
Other Fixed Chas Balance,
Net, after
Gross
Surplus.
&c
Trues. Income.
Earnings.
Cal. Year$1,664,274 $333.993 $36,248 $318.144 $52.097
1921
327.476
21.977
218,429
520.928
1.807.165
1920
HAMPTON, VA.
ROAD.
-Own 12.47 miles and leases 61.53 miles of line. Total opNEWPORT NEWS & HAMPTON RAILWAY. GAS & ELECTRIC erated, 74.00 miles.
CO.
OFFICERS.-Pres. & Gen. Mgr.. F. B. Musser, Harrisburg; Sec., John
Allen & Peck. Inc.. of Syracuse, acquired control of the common stock O'Connell. Office, Ilarrisburg.-V. 96, p. 209; V. 98, p. 155; V. 101. p.
common stock
In June 1916 at $30 per share. About 10.500 shares of theVoting trustees 1013. 1272; V. 104. p. 1591; V. 107. p. 1192; V. 110. p. 970.
voting trust for 5 years (to 1921).
were placed In a
and
are: Moreau Delano, New York: B. Howell Griswold Jr.. Baltimore.
VALLEY RAILWAYS.
J. N. Shannahan, Hampton, Va.
-Incorporated in Pennsylvania in July 1912 and in
ORGANIZATION.
company was organized in 1914 as the consoli- Sept. 1912. after increasing its stock from $10.000 to $2.500.000 (of which
-This
ORGANIZATION.
Light
dation of the Newp News & Old Pt. Ry & Elec. Co.. Citizens' Ry. and $500.000 is 6% cum.-pref.), purchased control of the Valley Traction Co.,
Gas Co.
Mechanicsburg Elec. Ry., White
& Power Co. Hampton Roads Traction Co., Newport News provides rail- which in turn controlled the Harrisburg & &
Mechanicsburg St. Ry., West
'
the Hampton Phoebus & Fort Monroe Gas Oorporation and Peninsula. In Hill & Mechanicsburg Pass. Ry.. Carlisle
way,gas and electric light and power facilities for the Virginia Ice Co., and Fairview & Marysville Elec. St. Rye., Harrisburg & Riverton St. Ry..
Fairview & Riverton Ry and the United Electric Oo.
and plant of the Phoebus Coal cc
1919 acquired the property
687.
Fares.
-On Sept. 11 1919 the Penna. P. S. Comm. handed down a decision
Issued in connection therewith $67,000 7% pref. stock. V. 111, p.
sustaining the 7-cent fare charged by the co. V. 109. p. 1181. In May 1921
-For electric light and power, perpetual; for street railways
Franchises.
News are was auth. to raise cash fares from 7 to 8 cents. V. 112. p. 2085.
practically none expires before 1944. Gas franchise's in Newport
-See V. 109. p. 1181.
Valuation.
perpetual. subject to right of purchase of property by city (for 6 months in
Interest. Outstanding. Maturity.
STOOK AND BONDS- Date.
1927); in Hampton. gas franchise expires in 1936. Interurban lines largely
$2,000.0N
Common 32.000.000 ($100)
on private right of way.
6%
--------& Langley Field Ry. was I ncorp. in Virginia In Feb. 1917 Pref cum $500.000 ($100)
The Hampton
a line
5%
1.000.000 Aug 3 1952
with $25 006 capital (increased In Oct. 1917 to $100.000). to buildinterest Collateral trust $1.700.000 tf 1912
5 g A-0
700.000 Oct 1 1933
Valley Trac 1st M $700.0001 1903
3.1 miles long between the points named. The co. owns a one-third
gold ($100 & $500) __entt(Int. at Farmers' Tr. Co., Carlisle, Pa., True.
in this lino.
stock were ex-Remaining coll. trust bonds ($700.000) are reserved to retire
Bonds.
In Aug. 1922 the outstanding shares of corn, and pref.
changed for now certifs. of corn. and prof. stock, respectively. In addition prior liens. Valley 'Fraction bonds are subject to call at 110. A sinking
the co. offered stockholders of record June 27 1922 the right to subscribe fund of $5.000 per annum commenced Oct. 1 1908.
at $50 per share to 15,250 shares of new corn, stock, equal to 57% of their
-For year ending Dec. 311921, gross, $489,763; net, after
EARNINGS.
holdings. The entire offering was underwritten. Proceeds from sale of taxes, $59.274. In 1920, gross, $501,891; net, after taxes, $48.384.
-year 7% notes,
the add'l shares of corn, stock were used to retire $643,000 3
ROAD.
-Operates 44 miles of road from Harrisburg to Marysville and
due Juno 15 1922, and for the payment of floating indebtedness and for
to Carlisle.
working capital. V. 114, p. 2824.
OFFICERS.-Pres. & Gen. Mgr., C. H. Bishop, Lemoyne, Pa.; Sec. &
Interest. Outstanding. Maturity
STOCK AND BONDS- Date
-V. 112, to. 2085.
Treas.. 0. M. Davidson. General offices. Lemoyne.
$2,800,000
Common $4,000,000 ($100)--%
7 Q-J1,440,,00 Oct'22
Pf7%cumcon$4,000.000($100)
3,743,500 Jan 1 1944
ist at ref M $/.601.1.000 gi$100) 1914
HAVERHILL, MASS.
OM Maryland rust Co. of Baltimore, Trustee
$500 & $1.000)
Newport News cit Old Pt. R.& El.
NEW HAMPSHIRE ELECTRIC RVS.
5 g M-N
900.000 Nov 1 1938
mortgage $900,000 gold J 1898
First
-A voluntary association organized as successor to
ORGANIZATION.
c* tflInterest at Alex. Brown & Sons, Bait., Md
($1.000 each)
The company
39,000 Mar 1 1941 New Hampshire Trac. Co. on Aug. 24 1905. all their bonds owns all of the
5 g M-S
General mtge 34,000,000 gold 1901
except $849,000
Alex. Brown & Sons. Baltimore. Md . capital stock of the following companies: also of the Dover Somersworth &
cal Int. at
($1.000 each)
of the Mass. N. E. St. By. Co.; $64,000
or at company s agency in New York.
By.. now a part
of
66.000 May 11940 Rochester St. By.; and $230,000 St.the Citizens Electric St. capital stock of
5 g M-N
First mtge Citizens'By L& Pi 1900
By. Co., also all the
of Massachusetts-Northeastern
Baltimore, Trustee
Maryland Trust
$800,000 ($1.000) gold c•
the Rockingham County Light & Power Co.
Co.,
Guaranteed prin & int_ ___ Interest at Alex. Brown& Sons, Baltimore.
p.9oo.200
Interest. Outstanding. Last Di..
Date.
414 J-J
STOCK66,000 Jan 1 1930
Hampton Roads Tree let M__ 1905
$3,900,200
----The pref. stock is red, all or part after 3 years from issuance on Common $4,000,000($100)----------Stock.
J-J
3.399.500 July '17,1%
Pref4% n-c. $4.000.000($100)
any div. date on 30 days notice at 110 and divs. V. 114, p. 2824.
-Company paid 1% each 6 mos. on pref. from July 1008
DIVIDENDS.
-Of the first and ref. bonds, $1,076,000 are reserved for prior
Bonds.
and Incl. Jan. 1910.; July 1910 to Jan. 1912, 114% IL-a.; July 1912 to
liens as above, $1.500 are in treasury and the remainder are for impts and. to
-a. In July 1916. 2%. In 1917, 3%. None since.
2% s.
extensions. Bonds subject to call at 105 and int. on any int. day upon July 1915.
-P., M. N. Buckner,
OFFICERS.-Pres.. D. A. Belden. Haverhill; V.
one month's notice. Int. payable at Alexander Brown & Sons, Baltimore.
New York.
-V. 103, p. 493.
or company's agency in N. Y. The Maryland Tr. Co., Bait., is trustee of New York: Sec. and Treas.. F. J. Horne.
& Old Point Ry.&
both the first and general mortgages of the Newport News
(1) Massachusetts Northeastern Street RY.
Elettrtc. The Newport News 6, old Point bond. of 1898 are subject to
All the stock of this company is owned by the New Hampshire Elea. Rye.
call at 110 on any interest day at 60 days notice. The Citizens' Railway
-A Mass. corporation. Owns and operates a local
ORGANIZATION.
Light & Power Co.bonds are subject to call at 110 on any interest day on
and Interurban railway in Northeastern Mass. and Southeastern N. H.
60 days' notice. Remaining Newport News & Old Point Ry. & El. gen
Maintains a through service between Haverhill Lawrence. Lowell, Nashua.
and Hampton Roads Trac. 1st M
M. 5s, Citizens' Ry. L. & P. 1st M. 5s
from the Rockingham
4s are deposited under the Newport News & Hampton Ry.. Gas & Elec. Amesbury and Newburyport. aPower is purchased beyond July
1 1934.
County Lt. & Pow. Co. under contract extending
1st & ref. M.
-On Nov. 1 1916 was authorized by the P. S. Comm. to Increase
Fares.
Dividends.-Divs. have been pald regularly on pref. stock. A div. of single cash fares from 5 to 6 cts. and the price on ticket books by 20%•
in 1917. May,5%;In 1918, On July 1 1918, however, was auth. to go back to the 5
3% on the common stock was paid July 11916;
-cent fare and
May, 5%; in 1919. May. 5%; in 1920. 5%•
adopt a zone system under which fare sections were divided into two zones
with a minimum cash fare of 5 cts. for each zone or portion thereof; tickets,
-For year ending Dec. 31:
EARNINGS.
Balance. good for certain hours of the day, being sold at the rate of 10 for 75 cts. On
Interest.
Other
Calendar
Net(after
Gross
-S. C. Commission to increase
Dec. 12 1918 was authorized by the I.
Surplus
Income. Rents. etc.
YearTaxes).
Earnings.
$179.368 commutation rates over certain lines. Compare a V. 107, p. 602. In
$350,841
$16,129
1921
$514,080
$2,550,268
new tariff effective
Sept. 1918 filed with the Mass. P. S. Comm.
58.413
401.384347 235
1 263
1920
2.765.198
232.123 Oct. 14 1918, increasing fares from 5 cents to 6 cents. V. 106, p. 1192.
305.644
13.903
1919
523.864
2.718.837
In Nov. 1918 again filed a new tariff, effective Nov. 14 1918, increasing
fares from 6 to 7 cents. V. 107. p. 1920 In April 1919 the company filed
-51 miles of track. 126 cars. Power plant with 15,000 a still higher tariff, effective May 23 1919, increasing single CaSh fares to
PROPERTY.
k.w. capacity; 2 gas plants; electric-lighting system.
-S. C. Comm. approved an increase in
10 cents. On May 21 1919 the I.
local fares
V. 108. p 2123 Effective June 15 1920, the co was auth. by
-Pros., J. N. Shannahan; Vice-Pros. & Gen. Mgr., E. F
OFFICERS.
Wm.
Peck; Sec. & Treas., Richard M. Booker; Asst. Sec. & Asst. Treas., road. the Mass. Dept. of Public Utilities to increase fare tickets to 6 for 50 cents
operate the
of 5 for 30
V 110. p 2568.
Stewart. all of Hampton. Peck-Shanahan-Cherry, Inc.2488; V. 111, Instead Abandoned.cents as theretofore
-In Jan.
Line
-V. 107, p. 1101, 1837; V. 108, p. 1512: V. 110, p. 2192, 2824; V. 115. suspended. V. 112. p. 162. 1921 service on the Plum Island division was
The tracks, however, had not been taken up
687, 1084, 2084, 2528; V. 113, p. 1360; V. 114, p. 2116,
P.'
as of April 1 1922.
pA1100.
In June 1921 the Mass. Dept. of P. U. approved an extension to June 1
1922 at 8% of $230.000 Citizens' Elec. St. By. 1st Mtge. 5s originally due
Dec. 1 1920. Compare V. 111, p. 2135, 2140. The company has further
HANOVER, PA.
extended this issue to June 1 1924 at 7%. Compare V. 114, p. 2241.
RAILWAY CO.
HANOVER & McSHERR YSTOWN STREET
STOCK AND BONDS- Date.
interest. Outstanding. Maturity.
Power Co.
All the outstanding stock is owned by the Hanover
Common stock ($100)_
$1,500,000
65
50
6 0 009
6%
Pennsylvania Sept. 30 1892. Its charter ['ref 6% cum ($100)
ORGANIZATION.-Incorp. in
919,000 July 1 1934
First and ref M $2.000.0001 1914
5 ft J4
runs for 999 years.
lint. at Amer. Tr. Co., Boston, Trustee.
($1.000) gold
to 6 cents.
Fares.
-In September 1918 increased fares
7 g J-D
230,000 June 1 1924
all the co.'s stock, Citizens' Elec St Ry 1st M 1900
In Juno 1922 the Hanover Power Co., which owns
%
,
la21
Be con Trust Co.. Boston. Trustee.
$230.000 gold
retire $400,000
Issued $630,000 1st mtge. 6% bonds, proceeds being used to 1 1928, and to Car trust notes
30,000 Ser to 1924
June
Hanover & McSherrystown St. By. 1st mtge. 5s, due
-The 1st & ref. 5s of 1914 are red. at 110 and int. on any Int. date
Bonds.
pay for additions, &c. V. 115, p. 307.
on 43 days' notice. Of the remainder of these bonds auth. $230,000 are
Interest, Outstanding. Maturity. reserved for prior liens and 8851.000 reserved for cost oladditions and
t.
STOOK AND BO$135.000 1918, 10% lmpts. under certain restrictions (V. 100, p. 55). The $230,000 Citizens'
----------Stock $200,000 ($50)
30,000
El. St. By. 1st Mtge. bonds were originally 5s and matured Dec. 1 1920.
demand bds $100,000__
1st M
1897-1902 records but have been extended to June 1 1922 at 8%. V. 112, p. 2414. Have
-In July 1894. 254%; in 1895, Jan..
Dividends.
Jan., 6%. In 1906 and 1907. none; been further extended to June 1 1924 at 7%.
lost. 1903 and 1904 none. In 1905,




54 J-J

I

214;

58

ELECTRIC RAILWAYS

EARNINGS.
-For year ending Dec. 31 1921, gross, $1.021,738
after taxes. $162,227. In 1920, gross, $1,073,466; net, after taxes, ; net,
$78,801.
ROAD,&c.
-Owns and operates about 126 miles of single track
(80 miles
In Mass. and 46 in New Hampshire). extending east and west from Haverhill, Mass., entering on the east Newburyport, Merrimac, Salisbury
and
Amesbury. Mass., and Plaistow and Newton, N. H., and
on
Lawrence. Methuen and Dracut, Mass., and Salem, Pelham and the west
Hudson
N. H. Enters Lowell and Nashua under trackage rights.
Owns
ates local lines in Newburyport and Amesbury. Connects withand operMa's. St. Ry.. Manchester St Nashua St. Ry. and the Exeter, the East
Hampton
& Amesbury St. Ry. Also owns a large amusement park on Canobie
In Salem. N. H. 80 open and 49 closed cars and 25 work cars and Lake
snow
plows.
OFFICERS.-Pres., D. A. Belden; V.
-P. & Treas., F. E. Webster; V.
-P.
& Gen. Mgr., Ralph 1). Ilood.--V. 113. p. 960, 1888; V. 114, p.
2241.
(2) Dover Somersworth & Rochester St. Ry.
All the stock and $143,000 bonds owned by New Hampshire
Elec. Rye.
ORGANIZATION.
-Chartered under the laws of New
a consolidation of the Union Elec. Ry. and the RochesterHampshire. Is
St. TRy.
STOCK AND BONDS- Date.
Interest. Outstanding. Maturity.
Stock $300,000($100)
$300.000
1st Mtge bonds, Series "A"___ 1921
6%
128.000 July 1 1931
1st Mtge Inc bonds, Ser "B"__ 1921
6%
79.000 July 1 1931
Bonds.-Series "A", call at par and int. on any int. date
on 60 days'
notice since July 1 1922. Series "B" call on 60 days'
or July 1 since July 1 1922 at par plus any declared and notice any Jan. 1
June 30 of the calendar year next preceding the date ofunpaid int, to the
redemption, plus
int, at the rate of 6% per annum after such June 30 to date
of redemption.
EARNINGS.
-For calendar year 1921. gross, $112.912; surplus,
after
taxes. $1,760. In 1920, gross, $139.223; deficit, after taxes, $7,988.
ROAD.
-Owns and operates about 21 miles of line.
OFFICERS.
-Same as for Massachusetts Northeastern St. Ry.

HAZLETON, PA.

[VOL. 115.
HELENA, MONT.

THE HELENA LIGHT & RAILWAY CO.
-Trolley, electric light and
power, gas light and fuel.
ORGANIZATION.
-Incorporated
Connecticut in Sept. 1905 as successor to the Helena Light & TractionIn
Co. V. 81.
ilelena Gas Light & Coke Co.; comprises the city'sp. 1043. Controls the
entire street railway
and gas and electric light plants. Railway franchise
is perpetual; others
expire April 4 1926.
Decisum.-The Montana Sup. Court in Feb. 1913 held that
city could
not enforce an ordinance which required the company
within the city limits without expense to the city-see to light its tracks
Fares -Effective July 1 1920. the co was auth by V. 96. p. 1422.
the Montana P. 8
COMM to charge a 7
-cent cash fare with 4 tickets for
lighting rates were also authorized. V. 110, p. 2657.25 cents Increased
Effective May 12
1921 the co. was auth. to increase fares to 8 cents cash for a
period. V. 112, p. 2305. In Nov. 1921 the rate was furthertemporary
increased
from 8 to 10 cents cash, with tickets at 6
cents. V. 113, p. 2311.
STOCK AND BONDS- Date.
Interest. Outstanding. Maturity.
Common $900,000
$900.000 Feb '18 1%
Preferred $600,000 5% cum__
5
600.000 Nov'18
First mortgage $1,500.0001 1905
5 g M-S
916,000 Sept 1 1925
gold ($1.000)
est Int. at Columbia Tr. Co., N. Y.. Trustee.
Bonds.
-The 1st M. bonds are subj. to call at 105 and
reserved for extens. and impts.. at 85% of sost. A sinkingint.; $186.000 are
fund of
ann. of bonds out commenced June 1 1908 and was increased 134% per
to
per annum June 1 1918; said fund to be used in retirement of bonds 234%
higher than 105 and int. See V.81. p. 1550. $390,000 have been at not
Diridends.-5% per annum in quarterly installments was paid retired.
stock to and incl. Nov. 1918. None since. First dIv. on corn., on pref.
Oct. 31 1906. In 1907, 3%. In 1909, 3%. In 1910, 4%. In I% paid
1911 and
1912, 5%. In 1913, 5%. In 1916 and 1917, 2%
In Feb. 1918. 1%.
None since.
EARNINGS.Gross
Net (after
Interest,
Balance,
Calendar Year
Earnings.
Taxes).
&c.
Sur. or Def.
1921
$384.601
$77.085
$48.813
sur.$28,272
1920
373.384
67,231
50,587
sur. 16,644
ROAD.
-Operates 21.21 miles of track.
OFFICERS.-Pres., P. G. Gossler; V.
-Ps., J. H. Pardee, A. Coppoll,
R. B. Marchant; Sec. & Treas., T. W. Moffat' Asst. Sec., C. A. Dougherty
and Ass.. Treas.. H.B.Brown. Operated under the general manageme .
nt
of J. G. White Mgt. Corp., Now York City.
-V.96, p. 1422; V. 106,
V. 107, p. 181; V. 110, p. 2657; V. 112. p. 2305; V. 113, p. 2311. P. 1035:

WILKES-BARRE & HAZLETON RR.
ORGANIZATION.-Incorporated in New Jersey May
1901
the entire ($1.500,000) capital stock and ($1,500.000) bonds and acquired
Barre & Hazleton Railway Co. (Pennsylvania incorporation) of the S4 likesthe same, together with $140.000 tentire issue) of the Lehigh and deposited
Traction Co.
5% certificates of indebtedness and $926.200 of the $1,000,000 stock s
of
the Lehigh Traction Co. as security for the Wilkes-Barre & Hazleton
HOLYOKE, MASS.
Rail
road Co. issue of first collateral trust mortgage 5% gold bonds.
HOLYOKE STREET RAILWAY.
-Trolley.
V. 72,
p. 1281. Franchises are 999 years in and around Hazleton and perpetual
ORGANIZATION.-Incorp. In Mass. June 11 1884. Leases
the
from Hazleton to Wilkes-Barre.
rem (incline) RR. until June 1 1922 at 6% per annum on the $100.000 Mt.
stock.
Interest on Bonds.
-The May 15 1914 Interest on the collateral
In March 1922 the directors were auth. to make another lease.
of 1901 due May 15 1951 was not paid when due. In lieu of trust mtge. P• 1407. In 1907 purchased the Hampshire Street Ry.(previousl V. 114,
paying the
y leased).
Interest bondholders were requested to surrender their coupons, due
V. 85. p. 40. In Aug. 1907 purchased the Amherst & Sunderlan
1914 to Nov. 15 1916, and in return the company issued non-Interest May 16 Ry.(V. 85, p. 294), giving a through connection from Holyoke to d Street
-bearing ana Sunderland.
Amherst
certificates for the coupons as they become due. See V. 98, p. 1539.
The
default was the-result of a strike of the employees of the Lehigh Traction
Fares.
-On Feb. 17 1918 was auth. by the Mass. Public Service
Comm.to
increase fare for long hauls to 10c. In Dec. 1918 the co.'s petition
Co., a subsidiary. 'the interest due May 15 1914 was paid June 15
1916
for a
contraction of Its zone system which would have increased its
and that duo Nov. 15 1914 was paid Nov. 20 1916. A supplemental agree
ment, dated Feb- 15 1918, was made between the company and the bond- $235.743 was rejected by the P. S. Comm.and a tariff increasingrevenues by
the revenue
holders by which the remaining unpaid past
-due coupons were extended for by not more than $145,393 was authorized instead. V. 107, p. 2476.
a further period of five years, or a total of eight years from the date on Effective Nov. 9 1919, was auth. by the Mass. P. S. Comm. to
establish
zones, each 2 miles in length, over the entire system,
which they originally fell due. Coupons affected are those for May
and to charge a 6
15
-cent
1915. Nov. 15 1915, May 15 1916 and Nov. 15 1916. Subsequent int. fare in each zone. Compare V. 110, p. 1642.
Operation of Buses by Company Authorized.
paid when due.
-In
was auth. by the Dept. of P. U. to operate buses. May 1921 the company
STOCK AND BONDS- Date.
V. 112, p. 2190. ComInterest. Outstanding. Maturity.
pare V. 112, p. 2083.
Common $2,500.000 ($100)_
$2.500.000
STOCKPref 8% non cum $700,000..
Date.
185.600
Interest. Outstanding. Maturity, etc.
(lock ($100)
Collateral trust mortgage $2.-1 1901 5 g M-N 15 1.900.000 May
J-J
$1.342.000 July'22, 3%
151951
500.000 gold ($1.000) _ _..c* Int. at Guaranty, Trust Co.. N. Y .. Trustee First mortgage. $2,500.000,1 1915
5 A-0
850.000 April I 1935
Collateral trust mortgage $1.- 1905 5 g A-0
gold ($1,000)
es fInt at Springf. Safe Dep. & Tr. Co. Trustee
1.227.000 Oct 1 1915
500,000 gold ($1.000)_ _ _ _c int. at Guaranty Trust Co.. N.Y..
Series "B"
1920
Trustee, Debenture
6%
85.000 April 1 1935
bonds
Bonds and Stock.-Of the authorized !smile of $2.500.000 coll, trust
n tf 1903
5 A-0
265.000 April 1 1923
1901.$600.000 are reserved to retire all bonds of the Lehigh Traction bonds of Leased line rental Mt Tom It R
Co. A
stock 6%
sinking fund of $20,000 per annum, which began June 1 1908,
6
100.000
Bonds.-$265,000 let M.bonds are reserved to
vaded in the collateral trust bonds or in bonds purchasable Is to be inretire the debenture bonds,
by
banks in New York State. See V. 72. p. 1281: V. 78, p. 289. The savings remainder issuable for additions and impts. under certain restrictions.
Red.
collateral at 107 and int. V. 100, p. 982.
trust bonds of 1905 have a sinking fund of $10.000 per annum, which
began
Interest on debenture bonds payable at Holyoke
in 1910. Bonds can be called at 110. Preferred stock
National Bank.
Dividends.
-From 1892 to 1915, incl. 8% yearly. In 1916,
company be changed at any time into the bonds of the can, at option of
6%. In
company,
Jan. 1917, 3%; July, 134 %. In 1918.
said bonds to bear not less than 5%. or may be red. at par in cash.at par
'
(V. 107, p. 291). None to Jan. 1920. whenJan. U4%; July city. omitted
3% was paid. July 1920. 3%•
EARNINGS.
-For cal. years (incl. allied companies):
In 1921, Jan., 3%; July, 3%. In
Jan., 3%; July, 3%.
Gross.
YearNet.
Taxes.
Int.
ROAD.
Res. & Depr. Deficit
-Has 72.31 miles of track, including Nit. Tom
1922'
1921
$895.180 $313.881 $17.225 $185,218 $116.671
(incline) RR.
$5.235 4.900 feet long, and connecting with the Spingfield Street Ry. to Westfield.
754,333
1920
231,364
16,972
187,107
SIMS.; with Springfield St. Ky. to Springfield, MEWS.,
116,377
89,092
and with NorthampOFFICERS.-Pres.. A. Markle; V.
ton St. Ry. to Northampton. Mass.,and direct to Chleopee,
-P. & Gen. Mgr.,
Chicopee Falls.
Sec.. N. C. Yost; Asst. Sec., A. Markle Jr.; Treas., Wm.C. B. Houck: South Hadley, Amherst and Sunderland. Passenger
H. Remick.
cars. 141; other ser- vice cars. 27: snow-plow
V. 83. p. 1292; V. 87, p. 679; V. 98. p. 1539.
s. 13: other vehicles, 7; electric motors, 269.
EARNINGS.
-For years end. Dec. 31:
(1) Lehigh Traction Co.
-A trolley road.
Cal. Year- Gross.
Net.
T nt..Tax.,&c.
Divs.
Bat. Burp.
ORGANIZATION -Chartered Nov. 7 1892. Franchise
1921
$1.085.739 $202,819 $120,405
perpetual
$80,520
$1,893
Owns, controls and leases for 999 years at an annual rental of
1920
1,093.533
$1
191,754
105.652
80,520
5,582
Hazleton & Suburban Electric Hy., capital $30,000; Hazleton each the
OFFICE RS.-Pres. &
St
Side Electric Rs - capital $75.000; Hazleton & North Side ElectricSouth S D. Nevin: Asst. Gen. Gen. Mgr., LC/L119 D. Pollisier; Sec. & Treas..
,
Mgr.. Geo. E. Pellisier; Aud.. G. F. Dinneen,
Ry.
capital $75.000. The $140.000 certificates of indebtedness and
ali of Holyoke.
-V. 111, p. 389. 692: V. 112, p. 2083, 2190; V. 114, p. 1407.
$928,200
of Lehigh Traction stock are deposited as security for the Wilkes-Bar
re &
Hazleton RR. bonds of 1901.
HOUGHTON, MICH.
STOCK AND BONDS- Date.
Interest. Outstanding. Maturity
HOUGHTON COUNTY TRACTION CO.
-Trolley road.
Stock $1,000.000 ($100)
$1.000.000
First mortgage $500.000 gold! 1893
Readvership.-In Nov. 1921 Samuel B. Tafel was appointed receiver
5 g J-D
500.000 June 1 1923
for
($100. $500, $1,000). _ _ _c*!Markle Bkg. & Tr.
the co. High operating costs, jitney competition and decreasing
Hazleton. Trustee
Certificates of indebtedness_
arising from a closing of mines, was given as the reason fqr the co.'s traffic,
Co..
140.000
difficulHazle Park bonds, $60.000- 1895
ties. V. 113, p. 2405.
5 g A-0
60.000
1925
Equip trust ctfs. Series A____ 1915
F-A
0RGANIZ AsrioN.-Organized in 1908 and took over Houghton
18,000
1925
treet Ry., which latter company was incorporated in 1899. Does County
The equipment trust certificates cover 10 steel cars and mature $3,000
:tic railway business in Houghton and Keweetnaw counties, Mich.. an elecsemi-ann. Penna. Co. for Ins. on Lives & Granting Annuities.
Phila.. Pa.. ing the cities and towns of Houghton,
connectIs trustee.
Hancock, Laurium, Red
Lake Linden and Hubbell. and the mining locations of Quincy, Jacket,
ROAD.
-Operates 20 miles of track. new 90
Osceola,
-lb. steel Trails, oak ties, well
Wolverine, Allouez. Ahmeek and Mohawk. Franchises
ballasted. Road extends from Ilazieton to West Hazleton, to Yorktown szpire
on
in 1929. 1930, 1932. 1933 and 1938. Largely on privatepublic streets
(connecting with Pennsylvania RR. and Lehigh Valley RR.). to
right of way.
Milnesville, Latimer Mines and Freeland (north). McAdoo $100.000 common stock owned by Public Service Investment Co.
(south) and
Fares.
-In Jan. 1919 the Village Council of Houghtott
A. Markle; V.
-P., C. B. Houck; Sec. and Treas. the company to increase its fares from 5 to 6 cents. V. voted to permit
108, p. 480. In
OFFICERS.-Pres..
N. C. Yost; Gen. Mgr.. C. B. Houck.
Dec. 1919 was auth. by the Mich. P. U. Comm. to increase
-V.99, p. 984. 1598, 1673.
5 to 6 cents in Caulmet and Torch Lake townships. The zone fares from
company also In(2) Wilkes-Barre & Hazleton Ry.-A trolley.steam and third-railroad creased fares to 6 cents in all zones outside
the two townships named in the
ORGANIZATION.
-Chartered Dec. 13 1899 under General Railroad Commission's order. V. 110, p. 77. In Oct. 1920 the
Law Act of April 4 1868. State of Pennsylvania. • The Wilkes-Barre & urban fares from 6 to 7 cents in each zone; tickets being Comm. raised Intersold at 4 for 25 cents,
V.111, p. 1752. In Jan. 1921 these rates were
Hazleton RR. owns the entire stock and bonds.
increased to 8 cents cash and
5 tickets for 35 cents. V. 112, p. 372.
STOCK AND BONDS- Date.
Interest. Outstanding. Maturity
STOCK AND BONDS- Date.
Stock $1.500.000 full paid
$1.500.000
Interest. Outstanding. Maturity.
First mortgage $1.500.0001 1901
5 g M-N
1.500.000 May 1 1951 Common $750,000 ($100)____-_$750,000
See text.
(Interest at Guaranty Trust Co., N.Y.. Truss Pref 6% cum $500,000 ($100)gold
A-0
207.200 Apr '19. 3%
Equip trust ctfs, Series A_ ___ 1915
let consol mtge $1.600.0001 1908
F-A
21,000
5 g J-J
1925
Jan
($500 and $1,000) gold_ _ tf lint, at Old Colony Trust1 1 . 0
The equipment trust certirtcates cover 10 new steel cars and mature
8 Co.,C6 Boston, Trust.
5
1 9
Stock and Bonds.
-Prof. stock is redeemable
$4.000 semi-ann. Penna. Co. for Ins. on Lives & Granting Annuities.
consol,
mtge bonds are in treas.; $6S6,090 for future at 110. 324.500 of cost;
Phila., Pa.. is trustee.
additions at 80%
$110,000 owned by company; they are subject to call as a whole or in part
ROAD.
-Owns 27 miles of road from Hazleton to Wilkes-Barre, and uses at any time for sinking fund
at 105 and int Sinking fund 134% of outfor terminals 1 mile Lehigh Traction Co. track at Hazleton and 3 miles standing bonds,
$132„500 have been canceled.
Wilkes-Barre Terminal RR. Co. track at Wilkes-Barre; total. 31 miles.
Otridends.-On pre'. 3% saa. from Oct 1908 to Apr. 1919 incl. None
Entire road placed in operation May 1 1903. Bails. 95 lbs.
since. On common, 2% Oct. 1909. In Ism. April, 234% and same
OFFICE RS.-Pres.. Alvan Markle; V.
amount ssa, to and including April 1914. None since.
-P.and Gen.Mgr..C.B.Houck
Sec. and Treats.. N. C. Yost.
EARNINGS.
-For 12 months ending June 30:
Year
Gross. Net.aft.Tax. Int.
Sink.Fd. Spcc.Res sdS:e r...23r D
irt
i
oo1 2482
(a) Wilkes-Barre Terminal RR.
1
192
$298.855 $23.141 $53,562
$
Entire stock and bonds owned by W. B. & Hazleton RR.
191.1-20
309.531
69,995
48,712
ORGANIZATION.
-Incorporated on Oct. 9 1903. Stock authorized
ROAD.
-Miles of single track equivalent, 32.15; 39 cars. Standard
and outstanding. $35.000 (par $50). Bonds authorized.
gauge. Power station capacity,
$600.000
Date 1905; due Oct. 11945. Int. (5g. A-0) payable in New York. (c&r). Houghton County Electric Light1,000 k.w. Also purchases power from
Co.
OFFICERS.-Pres., Harry T. Edgar. Boston; V.
BOA D.-3.80 miles. between W. B. Ter. RR. June. and
-Ps., F. J. Bawden.
Wilkes-Barre
Rails. 95
Houghton, and David Daly, Keokuk: Sec., Edward T. Ciatk, Boston;
-lb. T; gauge, 4 ft. 834 in. Pres.. 0. J. Kirschner;
Sec.-Treas.
Is. 0. Yost.
Treas., Henry B. Sawyer. Boston; Mgr., Samuel B. Tuell: Gen. Mgr..
Stone & Webster Mgt. Assn., Boston.
-V. 112. p. 372; V. 113, p. 2405.




OCT., 1922.]

•

ELECTRIC RAILWAYS

59

-P., Robt. I. Todd; Sec. & Treas..
OFFICERS.-Pres.,Demas Deming; V.
INDIANAPOLIS, IND.
-V.98, p. 525; V. 107, p. 182; V. 109. P. 1367.
Joseph A. McGowan.
TERRE HAUTE INDIANAPOLIS & EASTERN TRACTION.
-An electric road.
(a) Terre Haute & Western Railway Co.
-Incorporated in Indiana on March 1 1907 and
ORGANIZATION.
Leased to Terre Haute Traction & Light Co.for 999 years from Nov.1907.
acquired by purchase (1) Indianapolis & Eastern Ry.; (2) Indianapolis
-Incorporated in 1907 in Illinois. Road extends
ORGANIZATION.
(3) Indianapolis & Western Traction, and (4) Richmond
Coal Traction;
from the Indiana State line near Sanford. Ind., to Paris, Ill.. 10.63 miles,
Street & Interurban Ry.
Began operation Oct. 25 1907. Is entirely on private right-of-way. Entire
Haute Traction & Light Co. for
On March 25 1907 leased the Terre below), and in April 1907 leased 999 cum• and pref. stock owned by Terre Haute Ind. & Eastern Trac. Co.
for
under that company
years (see terms
Northwestern Traction and the Indianapolis &
Interest. Outstanding. Maturity.
STOCK AND BONDS- Date.
999 years the Indianapolis & (see terms under respective companies).
1200,000
Stock common $200.000_
Martinsville Rapid Transit
Indianap- Preferred $150.000
150,000
The company owns $1,000,000 par of the common stock of the
the First mortgage $250,000 gold' 1907
Owns a one-half interest in
5 g M-N
250.000 Nov 1 1937
olis St. Ry.'Co. (Incorporated 1919). company an adequate coal supply.
guar p & I ($1.000)___c*tf f Int. at New England Tr. Co., Boston, Trus.
United Traction Coal Co., insuring the
in V. 104, p. 1805.
Bonds.
-Are guar. p. & I. by endorsement by Terre Haute Tr.& Lt. Co.
See Shirley Realty Co. of Indiana
Crawfordsville &
On May 1 1912 leased for 999 years the Indianapolis
EARNINGS.
-For calendar years.
Danville Elec. Ry.(see terms under latter company below). V.94. p. 1567.
Net.aft.Tax.01h.Inc. Deductions. Bal..Sur.
Gross.
Dec. 31 Years$12,500
$500
Franchiscs.-The company and the Indianapolis & Northwestern Traction 1921
$14,274
$70.209
$2.274
500
24,501
12,500
72,379
12,501
Co. filed notices of the surrender of all franchises from cities, counties and 1920
-P., F. T. O'Hair; Sec., John T.
OFFICERS.-Pres., E. M. Walker; V.
municipalities with the Ind. P. S. Comm. and received in lieu thereof an in-V. 90. p. 1555.
Beasley; Treas., J. A. McGowan.
determinate permit, as provided in the Public Service Commission Act.
and the Indianapolis & Northwestern Trac.
In Sept. 1921 the company
-An electric road.
(2) Indianapolis & Northwestern Traction Co.
Co. filed notice of the surrender of 8 franchises from counties and munici-In April 1907 was leased to the Terre Haute Indianapolis &
Lease.
palities with the Indiana P. S. Comm. The companies will operate under Eastern Traction for 999 years. The latter company will pay the interest
franchises were from the
an indeterminate permit from the Comm. The
on the bonds; also 1 % quar. or 5% per annum on the $450.000 pref,
following cities and counties: Frankfort, Zionville, Boone, Clinton, Craw- stock and $500 per year for organization. V. 84. p. 869.
fordsville, Montgomery, Englewood and Lebanon. V. 113, p. 1252.
Entire issue of common stock, except directors shares, is owned by the
On May I 1918 purchased the stock of the West Indiana Utilities Co.. Terre Haute Indianapolis & Eastern Traction.
which operates lighting plants at West Terre Haute and Brazil. Ind.
ORGANIZATION.-Organized in 1902 In Indiana. Operates a modern
the application of this co. for increased
Freight l2ates.-On May 23 1918
freight rates was approved by the I.-S. C. Commission. On May 12 1919 high-speed interurban railroad, standard-gauge, located upon private right
of way outside of the city corporate limits. Extends northwesterly from
freight rates were increased to practically the same as the steam roads.
-On July 1 1920 the co. was auth. by the Ind. P. S Comm to the city of Indianapolis through the cities of Lebanon and Frankfort to the
Fares.
charge 3c. per mile to all points in Indiana. V. 111, p. 74. The same rate city of Lafayette, with a branch from Lebanon to Crawfordsville. each of
A straight 5c fare is charged in which cities is the county seat of its respective county. Has trackage
charged to inter-state points
Is also
Terre Haute and Richmond. Effective July 1 1922, the Ind. P. S. Comm. rights to the business centres of Indianapolis and Lafayette.
In Sept 1921 the company surrendered its franchises and now operates
auth. the company to establish a 10-cent fare for city passengers. V. 115,
under an indeterminate permit.
p. 759. Compare V. 114, p. 1890.
Interest. Outstanding. Maturity
Date.
STOCK AND BONDSInterest. Outstanding. Maturity
Date.
STOCK AND BONDS$2,550,000
$9.100.000
Common $2.550.000
Common $12,500,000 ($100)
See text
450.000
9.100.000
See text
Pref ($1,000.000) 5% cum__ _
Q-J
Preferred $12.500.000 ($100)5 g M-S
2,470,000 Mar 11023
6,500.000 April 1 1945 First mtge $3.000,000 gold) 19(13
5 A-0
& ref mortgage $8,000.0001 1910
lat
c*tf(Int. at Columbia Tr. Co.. N. Y.. Trus.
($1,000)
f Int. at Fidelity Trust Co.. Phila.. Trustee.
gold ($1,000) s f
-The remaining $530.000 for improvements,&c., at 50% and 75%
Bonds.
See text July 1 1927
5 g J-J
Indianapolis & Eastern 1st) 1902
Cons M $1.000.000 goldi Int. at Mercantile Trust Co.. N. Y., or at of cost. No s. f., but bonds can be called on any int. date at 110 and int.
(31.000)sinking fund_ _c*tf I Central Trust Co.. Indianapolis. Trustee.
-For years ending Dec. 31:
EARNINGS.
.
Cal.Years- Gross. Net,aft.Taz 0th.Inc. Deductions.
Balance.
Stock.-Pref. stock is 5% cum. after July 1 1910. Should corn, at any
$500
$643,839
$123,500
$64,003
1921
def.$58.997
time pay 6%. pref. will pay the same. V. 90. p. 1555.
500
675,558
109,274
123,500
def.13.726
1st & ref. bonds are reserved for additions and im- 1920
Bonds -Remaining
whole from April 1
-Embraces 87.01 miles of track between Indianapolis, ZionsROAD.
provements. under careful restrictions. Callable as a
1915 at 105 and Int.. or in part, for sinking fund only at 1023. and int. ville, Lebanon. Frankfort and Lafayette, including a branch from Lebanon
to Crawfordsville. Standard gauge; 70-1b. T rail. Owns 20 passenger,
on any Int. date. $931000 held in sinking fund Oct. 1 1922.
Power house and car barn are at Lebanon.
freight and 5 service cars.
S. f. $55.000 p. a. first 5 years and $106.675 p. a. thereafter; bonds
acquired for s. f. to be alive and int. added to s. f. V. 90, p. 1491. (The V. 88. p. 295; V. 92. p. 59.
payments due Feb. 1 1919. 1920, 1921 and 1922 had not been paid to
-P. John J. Appel; Sec. & Treas..
OFFICERS.-Pres.. Robert I. Todd; V.
Oct. 1 1922.)
Jos. A. McGowan.
Of the $1.000,000 Ind. & East. consols auth.. $127,000 have been canare owned
-An electric road
(3) Indianapolis & Martinsville Rapid Transit Co.
celed by sinking fund. Of the remaining $573,000 out, $551 .000
began
Leased.- In April 1907 was leased to the Terre Haute Indianapolis &
by Torre Haute Ind. & East. Trac. A sinking fund, 1% of bonds out,can be
East. Trac. for 999 years. The latter co. will pay the int, on the bonds; also
July 1 1908. Fund Is to be invested in the company's bonds if they
bought at not more than 105 and int. Bonds cannot be called. See V. 75. $500 per year for organization. V. 84, p. 749. The Terre Haute Ind. &
Eastern owns entire issue of stock except directors' shares.
p. 342.
ORGANIZATION.
-Incorporated in Indiana on April 24 1901. OperDividends.-InItlal div.. 1(%. on pref. paid Oct. 1910; same amount
ates on private right of way except in incorporated towns.
quar. to and Incl. Jan. 1914. None paid since. See V. 98. p. 914.
STOCK AND BONDS- Date.
Interest. Outstanding. Maturity.
-For calendar years (excl. Ind. Street Ry.):
Report.
Stock $750,000 ($100)_
1919.
_
1921.
1920.
$750.000
$5.291,328 $5,444.836 $4.597.537 First mtge. $750.000 ($1,000)) 1902
5 g J-J
750 000 Jan 1 1932
Gross earnings
gold
_c*&r ntfi Union Trust Co. and Security Tr. Co. of In3,346.868
4 117.824
4,068.777
Operating expenses and taxes
dianapolis, Trutt. Int. at Sec. Tr. Co., Ind.
Bonds.
-No sinking fund, but bonds are subject to call after 10 years at
$1.327,012 $1,250.668
$1,222.551
Net earnings
$620,154 105 and interest. See V. 78. p. 1223.
$628,805
$640,400
Rentals and other deductions
43,716
EARNINGS.
-For calendar years:
44,734
41.195
Sinking funds on leased lines
27.500
Dec. 31 Year. Gross. Net,aft.Tax. Oth.Inc. Deductions,
27.500
Int. & sink, fund on underlying bonds
Balance.
1921
$235,681
$39.389
$500
$37.500
sur. $2,389
$559.297 1920
$626,512
$537.417
Balance
278,187
80.712
500
37.500
sur. 43.712
$285.544
$278,999
$282,404
Interest on T. H. I. & E. T. bonds_
ROAD.
-Embraces 29.07 miles of track from Indianapolis to Martins146.105 ville, completed in May 1903. 70-lb. rails;
152.677
149.271
Sink. fund on T. II. I. & E. T. bonds_
standard gauge.
OFFICERS.-Pres., Robt. I. Todd; V.
-Ps.. Harry S. New, Chas. Mur$127,648
$194,837
$105.741
Balance
dock and John J. Appel; Sec. & Treas., Jos. A. McGowan. V. 84. p. 749
-Operates a modern high-speed electric railway over lines
ROAD.
(4) Indianapolis Crawfordsville & Danville Electric Ry.
which comprise a continuous route from and including the city of Paris in
Lease.
-On May 1 1912 was leased to the Terre Haute Indianapolis &
Illinois through the city of Terre Haute and towns of Brazil, Greencastle
Eastern Trac. for 999 years. Under the lease the latter company guaranAmo.Clayton and Plainfield, to the city of Indianapolis,and thence.through
the towns of Greenfield. Knightstown. New Castle and Cambridge City, to tees p. & I. of 1st M. bonds, 5% divs. on $200,000 pref. stock and semithe city of Richmond in Indiana; also a line running south from Indianapolis annual diva. on com. viz.: 3i% from Nov. 30 1912 to May 31 1914, I%
Nov. 1916 to May 1918 and 2% thereafter.
to Martinsville. Ind.; a line running west from Indianapolis to Danville. Nov. 1914 to May 1916. 1
Ind.; a line running northwest from Indianapolis to Lafayette, with a
ORGANIZATION.-Incorp. in Indiana on April 20 1912 as successor to
branch to Crawfordsville; a line running northwest From Indianapolis direct the Indianapolis Crawforsdville & West. 'Frac., sold at foreclosure. Built
to Crawfordsville and from Terre Haute a line north to Clinton, Ind., and a entirely on private right-of-way. In accordance with the privilege granted
line south to Sullivan, Ind. Also operates the city lines in Terre Haute and by the Indiana State Legislature in its session of 1921, the co. surrendered
Richmond. Total miles in single track: city lines, Terre Haute, 31.56; and its franchise and the Ind. P. S. Comm. has issued in lieu of same an indeRichmond, 13.68; total, 45.24; interurban lines. total, 409.54. Grand total. terminate permit.
entire system, 454.78 miles.
Interest. Outstanding. Maturity.
STOCK AND BONDS- Date.
-P., John J. Appel; Sec & Treas.. Common $400,000 ($100)____
M-N
OFFICE RS.-Pres., Robt. I. Todd; V.
$400,000
See text
J-D
200,000
Prof $400,000 5% cum ($100)_
See text
Jos. A. McGowan
5
1,000,000 May 1 1952
DIRECTORS.-Robt. I. Todd, Randal Morgan, W. Kelsey Schoepf, First mtge $2.500,000 gold) 1912 at g M-N Trust Co..
Girard
Phila.. Tnistee.
($1.000) guar p& I_ _c&r tfiInterest
James W. Lilly, Leroy T. Hixon, J. J. Appel and Jos. A. McGowan
-Of remaining first mtge. bonds. $1.000.000 are for extensions
Bonds.
V. 108, p. 2630; V. 109, p. 1367; V. 110, p. 1416; V. 111, p. 74, 190. 289;
and $500,000 to be issued only under certain conditions. Subj. to call as
V. 112, p. 850; V. 113, p. 732. 1252; V. 114, p. 739, 2117; V. 115, p. 760.
a whole but not in part at 1023i and int. on any int. day. Sinking fund of
(1) Terre Haute Traction & Light Co.
$9.000 per annum on initial $1.000,000 bonds out commenced March 1 1913
-In March 1907 was leased to the Terre Haute Indianapolis &
Leased.
When add" bonds are issued fund shall be increased by such amount as will
Eastern Trac. Co. for 999 years. The latter company guarantees 6% on retire 2-3 of such addi bonds issued. $134.000 held alive In sinking fund
years. 3% for Oct. 11922.
the outstanding pref. stock and 2% on common for 1
1 year, i% for 1 year. and .5% thereafter, and $1.000 per year for organ!
-For calendar years:
EARNINGS.
Won expenses. V. 84. p. 750.
Balance.
Gross. Net aft.Tax.Oth.Inc. Deduc. Sink.Fd.
YearThe Terre Haute Ind. & East. Trac. owns all the common stock except 1921
$44,389 $14,611
$4,172
$500
$384,688 $62.672
directors' shares.
13.672 sur. 3.605
45.328
500
62.105
477.587
1920
0RGANIZATION.-Is a consolidation in 1904 of the Terre Haute Elec
-Operates 48.23 miles of road between Indianapolis and CrawROAD.
tric Co. and the Terre Haute Electric Trac. Co. In accordance with the
Standard gauge. 70 and 85-lb. T rails. An extension from
privilege granted by the Indiana State Legislature in its session of 1921, the fordsville.
Crawfordsville to western boundary of Indiana east of City of Danville,
company surrendered its franchises and the Ind .P. S. Comm. has issued in Ind., is proposed.
lieu of same an indeterminate permit.
-P., Robert I. Todd; Sec.& Treas.
OFFICERS.-Pres..John J. Appel; V.
STOCK AN t) BoN Ds- Date.
Interest. Outstanding. Maturity
Jos. A. McGowan; Oen. Mgr.. Robt. I. Todd. V. 94. P. 1449. 1565. 1695.
Common $2,000,00(1 ($100)$2.000,000
See text
M-S
Pref. $1.000.000($1006% cu.)
M-S
1.000.000 Sept.'22 3%
INDIANAPOLIS STREET RAILWAY CO.
First cons mtge $5,000,000 1904
5 g M-N
2,061.000 May 1 1944
The Terre Haute Indianapolis & Eastern Traction Co. owns the 31,000.gold
tf:Interest at State Street Trust Co.. Boston
000 com. stock.
5 g J-J
Terre Haute Electric 1st mtg 1899
1,500.000 July 1 1929
ORGANIZATION.-Incorp. in Indiana on June 30 1919. Is consolida$1,500.000 gold ($1,000) c* 'Int. at Boston Safe Dep. & Tr. Co., Boston
tion of the old Indianapolis Street Ry. Co. and the Indianapolis Traction dc
102.000 See text
6 Q-J
Car Trust Equip Co prof stock 1918
Terminal Co. (For separate history of each of these cos. up to dine of
6 Q-.1
77.000 See text.
Car Trust Equip_ Co pref stock 1919
of March 29 1919.)
the "Electric
Bonas.-The Union Trust Co. of Indianapolis and the Boston Sate Deposit consolidation see was effected Railway Supplement" p. 2329 subject to
as per plan in V. 108,
The consolidation
& Trust Co. are joint trustees of the Terre Haute Electric mtge. Of thr conditions stipulated by the Ind. P. S. Comm. as outlined in V. 109.
$5,000,000 consols, $1,500,000 are reserved to retire prior liens. The nem
p. 172. On Aug. 29 1919 the Federal Court approved this consolidation
bonds are callable as a whole at 110 and int. on any Int. date. A sinktne
and dismissed the suit brought by certain minority stockholders against
fund of 1% of outstanding bonds commenced May 1 1906. $.131.000 war same. V. 109. p. 982
-held by this fund Oct. 11922. The United States Trust Co. of Terre Haute
Interurban railways enter the city under agreements by which they pay
and the State Street Trust Co. of Boston are trustees of this mortgage
3 cents per passenger for all passengers carried In the city limits and an
See V. 78 is 2013
additional 1 cent for those us ng the terminal station. V. 81. pl. 264. In
The Car Trust Equipment Co. pref. stock of 1918 is a first charge against
1921 the co. surrendered its franchise to the city of Indianapolii and now
30 cars. The stock matures $8,500 semi-ann. V. 107 p. 182. The stoch
under an indeterminate permit. V. 112, p. 2748.
of 1919 is a first charge against 25 cars and matures $5,500 semi-ann. to operates
Guarantees the ($400,000) bonds of Broad Ripple 'Fraction Co., and owns
1 1929. V. 109. p. 1367.
Oct.
75% of its stock.
-See V. III, p. 692.
EARN IN 08.
-For calendar years:
Tar Derision on Sink. Fund Bonds.
-See V. 112. p. 161.
Net. ()thine. Deduens. Sink.Fd. Balances
Valuation.
YearGross.
1921
$2,412.120 $728.855 $1.000 $284.617 $30,123 $415,114
Tax Suit.-In Feb. 1922 the co. filed a demurrer to a suit to recover for the
371.22f• city of Indianapolis the balance of the 1921 franchise taxes and the penalties
30,523
279.083
1.000
679.835
1920..
2.322,551
inunint Mg,it is stated, to $500.000. The co. contends that its act ion in surROAD.
-Embraces 87.26 miles of track in Terre Haute, including line'
rendering its franchise and obtaining an indeterminate permit from the P. S.
Haute. Clinton. Brazil. Sullivan and San
from Terre Haute to West Terre
ford. ind. Rails, 60 to 80 lbs. Owns 123 city passenger and 14 inter- Comm. had the effect of extinguishing the obligation. V. 114, p. 626.
Compare V. 114, P. 306.
urban passenger cars, 6 freight and 17 service cars.




60

ELECTRIC RAILWAYS

[VOL. 115.

Fares.
-On Dec. 28 1918 the Ind. P. S. Comm. auth. the co. to charge
a straight Sc. fare under an emergency clause. In Nov. 1920 the co. ap- cos. were merged with the Interstate Public Service Co., as per plan in
plied for auth. to charge 2 cents for transfers. V. 111, p. 2041. Effective V. 112, p. 563, 1283. Separate statements of the Louisville & Northern
Ry. & Ltg. Co., the United Gas & Elec. Co. and the Louisville & Southern
Dec. 20 1920, the Comm. auth. a 1-cent transfer charge. V.
In April 1921 the co. was auth. to charge a cash fare of6 cents 112, P. 161. Indiana Trac. Co., giving history up to time of merger, will be found in
for $1 and 1 cent for transfers. V. .12 p. 1740. On June 1 or 20 tickets "Electric Railway Supplement" of Oct. 30 1920.
1921. howFares.
-In April 1921 was auth. to increase passenger fares from 291
ever, a straight 5
-cent fare with a charge of 2 cents for transfers was put
in effect. V.112, p.2537. See also V.113, p.848. In Oct. 1922 applied cents to 3 cents a mile. V. 112. p. 1740. In July 1922 a 10-cont faro for
to Indiana P. S. Comm. for auth. to increase fares on "owl" cars from 5 to city passengers was approved by the Ind. P. S. Comm. V. 115, I3• 759.
In Sept. 1921 was auth. by the Ind. P. S. Comm. to sell $184,000 let
10 cents. V. 115, p. 1837.
ref. mtge. 5% bonds of 1913 at 75. V. 113. p. 1156.
Jitney Restrictions.
-An ordinance regulating jitney competition and ex- & In June
1922 the co. was auth. by the Ind. P. S. Comm. to sell 8372,00()
cluding jitneys from streets on which there are car tracks went into effect
6% prof. stock at not less than 75, proceeds to be used to discharge outNov. 25 1921.
standing obligations. V. 114, p. 2580. In Oct. 1922 applied for auth. to
STOCK AND BONDSDate.
Interest. Outstanding. Mary. &c. issue $286,400 7% bonds at not less than 90 for impts. already
made.
Common ($5O)
V. 115. p. 1731.
$1,000,000
Pref $5,000,000 ($1OO) cum___
6 Q-M
Upon completion of merger plan the co. will be capitalized approximately
5,000.000
See text
Consolidated mtge
See text
as follows:
Ind Tr & Ter Co 1st M $5,- 1903 5 g A-0
STOCK AND BONDS.- Date,
3.833,000 Jan 1 1933
Interest. Outstanding. Maturity.
000.000 g ($1,000) s f_c*tf Int. at Guaranty Tr.& S. D. Co., Phila., Tr. Common stock $5.000.000_
$4.000.000
Indianapolis Street Ry gen 1899
4 g J4
Preferred stock $5,000.0004,987,000 Jan 1
4.500,000
mortgage $6.000,000 gold Interest at Guar. Trust & Safe Deposit 1933 Prior lien stock $5,000.000_
•
Co..
713.800 0ct22,1 4%
3
Philadelphia, Trustee.
($1.000) guar
entf
First & refunding reortgage_tff 1913
5 A-0 1
3,713 non Apr 1 1943
Citizens' Street Ry 1st M 1893
5 g M-N
4,000,000 May 1 1933
Int. at Union Ti'.Co., Indianapolis, trustee.
$4,000.000 g ($1,000)_c*tf Central Trust Co.. New York, Trustee.
Louisville & Sou Ind Trac 1st 1903
5 g M-S15
999,000 Sept 15 '23
Equip certificates Series
1913
5 M-S
M $1.000,000 gold ($500 & Int. at Cont. & Corn. Tr. & S. B., Chicago
5,000 See text
Equip certificates Series "D" 1913 6 J-D
$1,000)
15,000 See text
c*1 and U. S. Trust Co.. Louisville, trustees.
$100,000
New Albany St Ry $250,000-1 1902
5 F-A
250,000 Aug 1 1927
Equip certificates Series "E" 1916
5 J-D
(31.000)
57,000 See text
(mt. at U. S. Trust Co.. Louisville, trustee.
Pa. Co. for Ins. on L.& G. Ann., Phil..trust. Louisv & Nor Ry & Ltg 1st MI 1905
$125,000 (31,000)
5 g J-D
500,000 Dec 1 1925
Ind Car Equip Co 1st pref stk_ 1919 6 Q-J
82.500,000 gold ($500 and list. at Cont. & Corn. Tr. & S. 13., Chicago,
150,000 See text.
Interest on Citizens consols at Fourth Street Nat. Bank, Philadelphia.
$1.000)
trustee, or at Eliot Nat. Bank, Boston.
c*
-Preferred stock is pref. as to assets and diva It is stated that Louisv & Nor Ry & Ltg dabs- --,Stock.
6%
422,000
the common stock will be allowed no voting power unless the pref. divs. United Gas & El Co 1st mtgel 1902 5 g J-J
010,000
See text
are paid in full.
$750,000 ($1,000) gold__c*}Int. at Cont. & Corn. Ti'. & S. B. Chicago.
cons. mtge. bonds are limited to an auth. Issue of $15,000.Bonds.
-The
trustee, and at Eliot Nat. Bank, Boston.
000 up to April 7 1933, after which, the auth. amount may be increased to United Gas & El Co 1st consol 1904
5 g J-J
750,000
See text
325.000.000, incl. the divisional bonds, if any, then outstanding,
mtge $1,500.000 gold ($500.Int. at Cont. & Corn. Tr. & S. B. Chicago.
such excess of $10.000.000 bonds may bear such rate of interest, notand
and $1,000).
cl trustee, or at Eliot Nat. Bank, Boston.
exceeding 6% p. a.. and be used for any proper corporate objects and pur- Central Indiana Ltg 1st & ref 1907
5 M-1 1
895.000 May 1 1927
poses of the consolidated co. The 815,000.000 now authorized will bear
$2.500,000(8500&$1.000)c* tint, at Columhia Trust 1 0..0orustene 1 1931
9 6 , to ir ue.
int. at not exceeding 6% and shall be issued only for addns. and better- Peoples Gas Elec & Eltg 1st M _ _ _ _
5 J-D 1
ments to and eats., acquisitions and replacements of lines of street railroad
Int. at
which become a part of the street railroad system of the consolidated com- New Albany W Wks let cons 1904 Con.&Com.T.&S.Bk.,Chic., trustee.
5 A-0 15
401.000 Seely to '24
pany in Indianapolis and its vicinity. Bonds shall only be issued to
M $750,000($100,$500 anth United States Trust Co., Louisville, trustee.
the
amount of par value of bonds of the three divisional issues which have been
$1,000)
c
or shall be taken up and canceled by sinking fund payments,
New Albany Water Works 1st 1895
5 J-J 1
150,000 Jan 1 1925
time while any of divisional bonds are outstanding (unless so that at no
3 3k. NewaA 1 19d.
0
their present
M ($100. $500 & $1,000).tf}Int. at New Albany Nat.13 760 m rlb.. n3
0
dates of maturity shall be extended), shall the aggregate amount of (new Shelby County Water,(las &1 1910
5 M-S 1
and old] bonds secured by mortgages on the property exceed
Elec 1st M $500,000 (8100
q . t. ogborn&.
Auip Title
stae l.
o sto .
es
.
$15.000,000
e
But notwithstanding the foregoing, provision may be made in the mortgage
°
inkila., tru.itee: D.
at C ns.l-E
$500 and $1.000)
New
for the Issuance of bonds to refund the existing mortgage indebtedness, or
Ind., co-trustee.
any part thereof (at maturity] All bonds issued for refunding shall
334.300 Jan 1 1929
5 J-J 1
be New Castle Lt Ht & Pr 1st M 1908
subject to be taken up and canceled by the sinking fund provisions which
($100. $500 & $1.000) _ _ _c•JInt. at Prov. Life & Tr. Co., Phila.. trustee.
were applicable to the refunded bonds in their original
Seymour Pub Serv 1st mtge( 1910
166.400 Dec 1 1928
6 J-D 1
taken up and canceled, original bonds may be issued in form, and when so
$200.000 call at
fd__IColonial Tr. & S. Bk., Chicago. trustee.
therefor, which, or the proceeds thereof, shall be used only forsubstitution impts. Franklin %Vat Lt &102 sk M.. ---131.800
Pow 1st
permanent
55
and betterments. Provision may be made in said mortgage that
Indiana Public Serv Co
100.000
57o
turity of any outstanding bonds which become due on or before the ma- Northern Ind Utilities 1st M_ ---80.000
April 7
1933 may be extended to such date as may be determined by the Board at Bedford Lt fit & Pr 1stbonds_- ---mtge__
58.500
5%
not exceeding 6% Interest if permitted by law.
Citizens' El Lt &
51.000
See text
6A-0
The lien of the several underlying mortgages Is confined to the property Lebanon HeatingPr 1st mtge_- 1907
Co bonds_
44.000
and interests upon which each was a lien prior to consolidation and does Pub Serv Co of Ind bonds_ __ -20.000
__ -not extend to any other property of the consolidated company, except as Crown Point Elec Co bon_
ds __ 16.000
"general debts." without priority, after satisfying of the mortgage
liens Citizens Water & Lt )o bonds_ ___...
2.000
thereon.
Bonds.
-The Lou villa &
The Ind. Trac. & Term. bonds have a sinking fund which provides for no sk. fd., but are subject Southern Indiana Trac, Co. 1st M. bonds have
to call after 10 years at 105 & int. See V. 77.
the payment annually of 1 1-5% of bonds outstanding. See V. 76, p.
13- 769, 2339. New Albany St Ely. bonds are subject to call on any int.
1085
Bonds may be drawn for sinking fund at 1024 and lot, and are
date at 105 &
call at that price. See V.81. p. 264. $1,167,000 in sinking fund subj. to only be issuedint. Unissued Louisv. & Nor. Ry. & Ltg. 1st M. bonds can
for 80% of cost of property built or acquired. Are subject
The Ind. St. Ry. bonds have a sinking fund sufficient to redeem at canceled
maturity to call at 105 and int. V. 82, p. 868. $750.000 United Gas & Elec. Co
the greater part of the entire issue. $1.013,000 in sinking fund canceled
let consols. are reserved to retire a like amount of United Gas & Elec. Co.
The divisional bonds In the sinking funds at the time of consolida- 1st 5s, and $141,000
have been retired. Both issues mature serially from
tion were canceled so that they could no longer draw interest and payments 1907 to
to the sinking funds suspended until 1923. All future sinking fund pay. consols. 1942, but the bonds of 1902 may be called at 105 and int.; the new
are callable
ments are to be applied to the cancellation of bonds. Equipment certifi- Sufficient Central after July 1 1924 at 105 and Int. See V. 79. P. 2458.
Indiana Ltg Co. 1st & ref 5s are reserved to retire the
cates. Series "C' mature 35.000 on March 1 and Sept. 1 each year until Peoples' Gas.
El. & Htg. Co. 1st 5s. 8150,000 New Albany Water Works
paid In full. They cover 25 new cars. $95,000 have been
Series 1st cons. 55 are reserved to retire that co.'s 1st 5s. lot on the cons. mtge.
"D" mature 35.000 on June 1 and Dec. 1 each year untilretired. Covers bonds is payable
paid.
at
25 new cars. $85,000 have been retired. Series "E" mature 86.000 or red. at 105 and int. office of trustee or at Bankers Trust Co., N. Y. Are
Of the Shelby Co Water, Gas & Elec. Co. 1st M. 59
$7,000 on June 1 and Dec. 1 each year. They cover 25 cars. $68,000 have outstanding.
been retired. The Ind. Car Equip. Co. 1st pref.stock was used to purchase l02 t. & int. $66.000 are held in treasury. Callable on any int. date at
The New Castle LA., Ht. & Pow. 0o. let M 5s are call. at
25 cars. The stock matures 810.000 semi-ann. V. 109. p. 1700. Bonds 102 4 and int. on any
int. date. Of the outstanding amount, $5,500 are
are listed on Philadelphia Stock Exchange. V. 69. p. 851.
owned by co. $8,600 Seymour Puolic service (,io. let M. tis have been
Dividends.-DIvIdencts of 11% (1 4% quar.) were paid on the pref.
stock retired by sink. fd. The Citizens' Elec. Lt. Sc Pow. let M. as mature
to and incl. Mar. 1921. None to Sept. 11922. when 14% was paid.
83.000 annually Oct. 1 to 1922 and $33.000 Oct. 1 1923. $24,000 have
been retired. Are call. at 105. NI'Hon Trust Co., Indian spoils. trustee.
EARNINGS.
-For years ending Dec. 31:
EA RNINGS.-For cal. year 1921. gross, $1.021.172; net, after taxes and
Calendar YearGross. Net. after Tax. Fiz.Chgs..&c. Bal.. Sur,
1921
35.233.327
$832.931
$645.068
8187,863 deprec.. $922,992; int., rents, &c.. 8715.763: hal_ cur.. $207.229.
ROAD.
1920
5.367.936
790.597
628.631
161.966 operates -Operates a through line from Louisville to Indianapolis . Also
-Operates 168.71 miles of track and owns 9-story office anti
ROAD.
a line between New Albany and
and the Columbus.
New Albany and Jeffersonville city lines. Jeffersonvillesrui oper. elec., gas,
terminal building, train-sheds and 3 freight depots centrally located In
heat and water properties in a number of Also owns
Indianapolis; also real estate on which same are constructed. This ter
eommitnities.
minal Is used by all interurban roads (13 in number) entering Indianapolis.
OFFICERS.-Pre.s.. Harry Reid. Inch sn spoils, Ind.; V.
-P. E. Van
A new freight terminal is to be erected. Owns electrical and steam equip. Arsdel; gee. &Treas.. Era fl: Gathrie -V 112 n 17 19. 2537; V. 113,
ment of 7,000 k.w. capacity
Owns 371 double trucks, 166 single truck P.730, 1156; V. 114. p. 198, 306, 2589; V. 115. p. 759, 1731.
..
passenger and 12$ service cars.
-Chairman of the Board, Henry Jameson; Pres. & Gen
OFFICERS.
INDIANAPOLIS iik CINCINNATI TRACTION CO.
Mgr., Robt. I. Todd. V.-Ps.. Henry 0. Thomson and John J. Appel: Sec
ORGANIZATION.
-Incorporated In Indiana on Nov. 17 1910 as suc& Treas., Joseph A McGowan: As.st Sec. & Treas., Wm. F. Milholland
cessor to the old Indianapolis & Cincinnati Trac. Co.. sold at foreclosure
-V. 109. p. 172, 676, 982, 1700, 1986: V. 110, p. 77. 1415: V. 111, p. 692, Nov. 10 1910. V. 91. p• 1385.
1025.
1656, 2011; V. 112, p. 161, 819, 1740, 2305, 2537, 2637, 2748: V. 113, p. 71,
In 1911 acquired the Indianapolis & Southeastern Trac. Co. (ail of whose
532, 730, 818; V. 114, p. 308, 626, 1032, 1286; V. 115, p. 303, 1837.
coin. and $30.000 let NI bonds the old Indianapolis & Cincinnati Trac. Co.
had owned and to which company the Ind. & Southeastern was leased) and
-A
canceled Its corn. stock. V. 92. p. 881. 956. Private right of way except in
BROAD RIPPLE TRACTION. trolley road.
ORGANIZATION.
-Organized as successor to the Indianapolis & Broad cities and towns. County franchises perpetual. Franchises in cities and
Ripple Transit Co., sold at foreclosure July 1899. The property of the co. towns are for 5() years (the oldest being dated 19041, except in Indianapolis,
is operated by Indianapolis St. Ry. Co. in connection with street railway which is for 34 years from 1900. Has contract with Indianapolis Traction
Az Terminal Co. for 31 years allowing Its cars to enter Indianapolis.
property of latter company.
In Nov. 1912 the I & 0. Light & Power On. was incorporated with
Indianapolis St. Ry. Co. (Inc. 1919) receives all income and pays all
expenses incl. taxes on the property and int. on 8200,000 of bonds of Broad nominal ($900) capital stock in the interest of the Traction Co. to furnish
light and power to the communities along the company's
Ripple Traction Co. The prin. on the remaining $200,000 or bonds is
route.
In Feb. 1913 the I. & 0 Electric RR was incorp. with
assumed by Union Traction Co. of Indiana, which co. pays the int, thereon,
$10,000 capital
as consideration for that part of the property of Broad Ripple Traction Co. stock ,to extend the Traction Co.'s lines from Rushville to Cincinnati by way
of Brookville. Ind.. and Harrison. 0. It may later
transferred to it.
be merged with the
Cincinnati Harrison & Indianapolis Traction Co.
STOCK AND BONDS- Date.
Interest. Outstanding. Maturity
In April 1913 acquired control of the Cincinnati &
a
Stock $100.000 (par $100)$100,000
narrow-gauge road extending from Westwood. on the Westwood RR.,of
boundary line
ling $400.000 g ($1.000)contf41899
5 g J-J
400,000 July 11931 Cincinnati, to Brighton, within the city 5 1-3 miles.
V 96, p. 1297.
lint, at Guar. Tr.& S.D.Co.(Phila.), Trust
On Jan. 19 1918 was auth by the Indiana P
El Comm. to increase
Bonds.
-Are guar. p. & I. by Ind. St. Ry. No s. f. and bonds cannot passenger fares from
2 to 2t cents per
be called. The Ind. Nor. Trac. Co. (subsequently consolidated with the
o increase rates to 23 cents per mile mile, and, effective Jan. 10 1919.
4
Effective July 1 1920 rates were
Union Tr. Co. of Ind.) guarantees P. & I. of half ($200.000)of the bonds
steed to 3 cents per mile with auth of the Incl.
P S Comm
V 111. p. 74.
ROA D.-74 miles of track from Indianapolis to Broad Ripple Park.
pEafsfesecntigveersjuviy.
p 7h9.
2,. t5 Ind. P. S. Comm. auth. a 10
e
OFFICERS.-Pres., Robert I Todd; Sec. & Treas.. Jos. A. McGowan
-cent fare for city
11 2
15.
19
-V.69, p. 180; V. 73. p. 137. 183: V 78, p. 1167.
Payments in Scrip.
-On Oct.
Southeastern pref. stock being unpaid, 1 1918 815,000 of dive, on Ind. &
amount
lieu thereof a
INTERSTATE PUBLIC SERVICE CO.
6% ctfs. of indebtedness, due the co. issued inthe close of the like
war. Divs.
two
after
Controlled by Middle West Utilities Co.
due Apr. 1 and Oct. 1 1919, also years 1921. wore paid in the same way.
Apr. 1
ORGANIZATION.-Incorp in Indiana In 1912 and leased for 999 years Subsequent divs,
have been p sid in cash.
1919 $60,000 addithe Indianapolis Columbus Sr Southern Traction Co. at a rental of 5% on tional 6% ctfs. of indebtedness were issuedOn Jan. 1
to pay the $60,000 of bond
the capital stock, or 892,000 a year above all taxes. See that co. on a pre- interest due on that date. Int. due July 1 1919 was paid In a like manner.
vious page. Has also acquired the Franklin Water, Light & Power Co., These ctfs. were to mature
1921, hut had not been paid up to
Citizens' Elec. Lt. & Pow. Co.. Indiana Service Co., Northern Public Ser- April 21 1922. They have on Tan. 1 renewed but are being carried along
not been
vice Co. of Indiana, Seymour Public Service Co., Bedfore Light. Heat by "mutual understanding." V. 114, p. 1890. Compare V. 108, P. 784.
& Power Co., the Northern Indiana Utilities Co. the New Castle Light.
STOCK
Interest. Outstanding. Maturity.
Heat & Power Co. and the Hydro-Eledtric Lt. & Pow. Co. of Connersville. Common AND BONDS- Date.
$2.000.000
$2,000.000
V. 114. p. 198. The co. jointly with the Central Illinois Public Service Co. Prof
1,000.000 In 1912, 1%
J-J
guarantees unconditionally by endorsement (auth. $5.000,000, outstdg., First$1.090,000 (see text),-- r.s-7.
mtge 84,850.000 all Lulu
1.400.000 July 1 1940
5 J4
$1,250,000) 1st M.7% bonds of the Indiana Hydro-Electric Power Co. as
000) gold (see text)
c* Interest at Central Trust Co.. N. Y.. True.
to prin., int. and sink. fd. V. 114, p. 306. In Filly 1919 acquired control
& S E pf stk $600.000 ($100 __-600.000 In 1917. 5%
A-0
i
and assumed the bonded debt of the Indianapolis & Louisville Trac. Ry.,
nd & 5 E let M 81,000.000 1905
586.000 July 1 1935
5 g J-J
which see on subsequent page Formerly controlled through stock ownergold (81,000)____ ____ ____ Int. at Farmers' Loan & Tr. Co.,N.Y.,Trus.
ship the Louisville & Southern Indiana Traction Co., Louisville & Ind Shelbyv
414.000 Jan 1 1932
& Southeast 1st 1902
5 g .1-.
1
Northern Ry. & Lighting Co., New Albany Water Works Co., Central
M 8500,000 g (a1,000) s f__ fInt. at C.& O.Tr.& Say.Bk., Chicago, trus.
Indiana Lighting Co.and United Gas & Electric Co., but early in 1921 these
Certificates of indebtedness-- ---165,000 See text
6%




-Ind. & Cin. Trac. pref. Is entitled to non-cum. dive. of 2% until
Stock.
July 1 1911. then increasing 1% yearly to July 1 1913; thereafter 5% per
annum. Ind. & S. E. pref. Is redeemable at 105 and accrued div. on any
dividend date. See V. 81. p. 1375.
Bonds.-Ind.&(Mn. Tree. 1st M.Is divided into three classes, A, B and 0
Class A, $1.300.000, all out, Class B. $200.000, none issued; and Class 0
$3.350,000 (of which $100,000 outstay, reserved for extens., improvem'ts,
Ate. Entire series of bonds of each class is subject to call on or after July 1
1913 at 105 and int. As to priority of different series, see V. 92. p. 956.
Of the $1,000.000 Ind. & S. E. bonds. 5414.0011 is reserved for prior Hem.
They are subject to call on any int, date at 105 and int. Of the Ind. Shelby.
& S. E. bonds, the entire issue may be called on any int. date at 110. A
Sinking fund on these bonds of $10,000 per annum began Jan. 1 1908. for
which bonds can be called at 105, beginning with lowest number. $86.000
have been retired.
Dividends.
-On pref. paid in 1911. 1j%; in 1912. 1%.
EARNINGS.
-For year ending Dec. 31 1921, gross, $688,987; net,
after deprec. (but before taxes). $137,122; taxes, $33,758. In 1920, gross.
$765,652: net, after deprec., &c., $172.771; other income. $3,748; int.,
taxes and divs. on I. & S. E. pref., $193,231; deficit for year, $16,711.
ROAD -Operates 58 miles of track from Indianapolis via Rushville of
Connersville and 49 miles of track from Indianapolis via Shelbyville to
Greensburg. Total, 105 miles of track. An extension from Rushville
via Harrison. 0., to Cincinnati is proposed. 60 and 70-lb. T rails. 23 passenger cars and 6 express cars.
-P., W. Durbin.
OFFICERS -Pres., Chas. L Henry, Indianapolis; V.
Anderson; Sec., John J Appel Indianapolis; Treas., J, F. Wild. Indian-V. 112, P. 1740; V. 114, P. 1890; V. 115. p.
apolis. Office, Indianapolis.
759.

IRONWOOD, MICH.

a

61

ELECTRIC RAILWAYS

OCT., 1922.]

IRONWOOD & BESSEMER RAILWAY & LIGHT CO.
In Oct. 1922 it was reported that the Middle West Utilities Co. had
acquired control. V 115, p 1837.
Ap•il 19'2 the Wisconsin Railroad Comm. authorized Lake
Superior District Power Co. to take over the Ashland LiAlat & Power Co..
the Ironwood & Bessemer By. & Light Co. and the Big Falls Power Co.
V. 114. p. 1890.
ORUANIZATION.-Incorporated in Wisconsin In 1910 as the Gogebic
& Iron Counties By. & Light Co., the present name being assumed in Feb
1911. Owns 60% of stock of Ashland Lt., Pow. & St. By. Co. Controls
elec. light, power & street railway business in Ashland, Ironwood, Bessemer.
Wakefield. Hurley and Gile; the gas business in Ashland, and the water
supply in Hurley and title.
Also owns some of the most valuable
natural water powers In Wisconsin. Franchises in ironwood and Bessemer
expire in 1941. In Wisconsin operates under indeterminate franchise.
In Jan. 1913 increased its with pref stock from $200.000 to 8400.000
In Dec. 1918 the co. brought out $247,000 1st mtge. 5s, proceeds to be
used to reimburse the co. for t,xperiditures made In the construction of the
Superior Falls water power plant. V. 107, p. 2476. In May 1919 issued
$294,000 3-year 7% notes, proceeds being used to reimburse the co. for
expenditures made in the construction of the Superior Fails water power
plant. V. 108, p. 2122. In Sept. 1919 the Ash. Lt., P. & St. By. put out
-year 7% coll. notes Ser. "A,' proceeds being used to
an issue of $96,700 3
reimburse the co. for expenditures made for add'ns and betterments.
V. 109, p. 1079.
Interest. Outstanding. Maturity.
STOCK AND BONDS- Date.
$500,000
See text
Common $500,000 4100)
See text
465.400
Q-M
Pref ($100) 7% corn
1.525.000 Feb I 1936
5 F-A
First mtge $2,500,000 ;Midi 1911
sink fund ($1 0001_0 _tflint. at American Trust Co Boston, Trustee
See text
390.000
Collateral notes (see text g 1919
7 g A-0
($100. $500 & $1,000)c•tff
5 g J-3
720 000 Jan 1 1939
Ash Lt P & St By 1st inn 1909
$1.000.000 gold 41900) Int. at Chicago Say. Bk. & Tr. Co.. Trustee
(Leverett Thompson of chin- . Co-Trustee
Penn tax refund__ c&r .tf
96,700 Aug 1 1922
Ash Lt. P & St Ry coil notes} 1919 7 g F-A 1
Series "A"(COO. $500 and Cont. & Comm. Trust & Savings Bank.
Chicago, Trustee.
c*Str.tf
$1.000)
Bursas -Remaining Ironwood & Ressemer ist M. bonds may be issued
for 75% of cost of new property under certain restrictions. Red. all or In
part on any int. date at 104 and int, for sinking fund. Sinking fund providing for retirement, of I .4, of outstanding bonds at not execeding 101 and
Int. began with year ending Feb. 1 1916. $ 117,000 are pledged as security
for the $390,000 7% notes. Ashland Lt., Power & Street Ry. bonds are
subject to call on any int. date at 104. Sinking fund of 1% of bonds out
began in 1912. See V 104. p. 450. ¶129.000 are pledged under the co.'s
8
-year coil. notes Ser. A.
Notes.-Auttiortzed issue is limited by the restrictions of the trust deed.
Are secured by pledge of 1st Al.5s in the ratio of 133 1-3%. Red., all
or in part, on any int. date at 100 and int. on 30 days' notice. V. 108,
p. 2122. $294.000 are ser. "B" and mature April 1 1922: $18,000 ser.
"0" are due Sept. 11923: $21.000 ser."D" due April 11924, and $57,000
, ser."E" due Sept. 1 1024. The Ash. Lt., P. & St. Ry. coll. notes ser"A".
are secured by 9k120 non 1st M. 5s of that co., being in the ratio of $133 1-3
of bonds for each $100 of notes outstanding. Additional notes may ne
Issued from time to time providing same are secured by 1st M. 5s In the
lame ratio. Red., all or in part, at 100 and int. on any int. date upon 30
days' notice. V. 109, p. 1079.
Dittidends.-7%'per annum In being paid on preferred (Increased in 1916
from (1% per annum). it% is being paid on common stock
EARNINGS.
-For year ending Dec. 31 1921, gross, $667,120; net,
sur., $111.638.
$249,0(12- other income. S5'15 int., &e.. $138,850:
ROAD.
-Owns 15 miles of street railway serving Bessemer, Ironwood,
Burley, Montreal and Hamilton; water-power site capable of 4.000 b p
development, located at Brownstone Falls, 3 developed hydro-electric
plants of 5.150 h. p. at Superior. Mellen and Saxon Falls: 3 steam plants at
Ironwood. Wakefield and Bessemer: 140 miles transmission lines.
°MCP:FN.-Pres., L.' E. Myers; V.-P., L N. Boisen: Sec. & Treas.
108,
Wm. II. P. Weston. Office, 53 W. Jackson Blvd., Chicago,
P. 2122; V. 113, p. 1471; V. 114. n. lROil, 2359: V. 115, P. 1837.

ISHPEMING, MICE.

Treas., 0. E. McCormick, Chicago, Ill. Chief operating office, 72 West
Adams St., Chicago, Ill. General office, Ishpeming, Mich.
(a) The Marquette County Electric Rat. (.o.-Organized with $25,000
capital stock (all of which, with the exception of directors' shares, Is owned
by the Michigan Gas & Elec. Co.) Property leased to the Michigan Gas &
Elec. Co. under general contract which provides for payment of bond interest, operating expenses and upkeep. The company has assumed $139.
000 of the 1st M. bonds of the Marquette county Gas & El. Co.

ITHACe, N. Y.
ITHACA TRACTION CORPORATION.
In Jan. 1918 Ford. Bacon & Davis, N. Y. City, acquired a substantial
Interest in the Central N. Y. Southern RR. Corp.. which controls the
Ithaca Traction Corporation.
o ROAN I ZAT10 N
tricorn. In N. Y. Mar. 30 1914 as successor of the
Ithaca Street Ry.sold at foreclosure under bondholders' reorganization plan.
The new co. Is controlled by the Central N Y. Southern RR. Corp.. an allied steam road. by ownership of all the 4400.000/ outstanding stock and all
g4r8p8.06,00e o
) outstanding 1st & ref bonds. The Central N Y. Southern RR.
Corp Is
reorganization of the New York Auburn & Lansing RR. and is
capitalized as follows: Common stock, auth.. $1.275.000; outstanding
$375.000. Pref. stock, auth. and outstanding. $725.000;and 1st and coll.
trust 5s due 1964. Auth. $4.000.000;
$1.000.000. (V 99. p. 538.)
Pare in-reas• -In Dec. 1917 the N. Y. P 8. Comm. auth. the co. to
out..
Increase its fares to 6 cents. On Nov. 14 1918 the P. S. Comm. granted
atoll. to charge a 7-cent fare. In Mar. 1921 the P. S. Comm. auth. an
Increase In fares from 7 cents to 8 cents on the cut's lines (with the exception •
or the East Ithaca line). V. 112. p. 1024. The co had applied for a 10V 107 p 2098
cen, fare
Default, &c.
-The company having defaulted in the payment of principal'
of (1) $175,000 Ithaca Street Ry. 1st Mtge 6% gold bonds due July 1 1922
(2) $75,000 Ithaca Street Ry. 2d Mtge. 6% gold bonds due July 1 1922:
(3) $25,000 Cayuga Lake Electric Ry. 1st Mtge. 6% gold bonds due June 1
1922, and the interest on the $488,000 Ithaca Traction Corp. 1st Refg.
Mtge, 50-Year 5% gold bonds due April 1 1964, the following protective
committee was formed and has called for deposits:
Bondholders' Commillee.-Chairman Mynderse Van Cleef, Fredk. J.
Platt, Sec., Chas. D. Bostwick. Depositary. Ithaca (N. Y.) Trust Co.
V. 115. p. 1837.
STOOK AND BONDS
- Date.
Interest. Outstanding. Maturity.
Capital stock. $1.000.000
*$480:00 0 Apr 1 196%
*4 8 0
0
0
°
5 A-0
Ist&rer M $2.000.000. g. red 1914
any lot date at parSzintelf
Columbia Trust Co.. N Y.. trustee.
Ithaca Street Railway let M 1892
8175.000175.000 July 1 1922
6 J-J
Farmers Loan & Tr Co., N. Y.
t_f t lot, at 6j-p
t
2nd M $75.000_
75.000 July 1 1922
tf__ 1894
6 J-J
Cayuga Lake El By Let M
25.000 June 1 1922
• All owned by the Central N. Y. Southern RR. Corn.
Bonds.
-Of the 1st & ref. mtge. 5s. $488.000 are issued and are all owned
by the Cent. N. Y. So. Remaining bonds are reserved for future requirements. Including the retirement of the three onderiying prior lien as above.
EARNINGS.
-For year ending Dec. 311921: Gross, $245,318; net, after
taxes. $10,521. In 1920. gross, $299,666; net, after taxes, $19.420.
ROAD.
-Owns and operates 11.47 miles of track. Owns 29 motor cars
and 3 other cars. Rails, 80
-lb. "T.'
OFFICERS.-Pres., R. 13. Williams. Ithaca, N. Y.•, 1st V.
-P., & Gen.
Coon.. Chas. B. Hotchkiss, 34 Nassau St N V.. 2d V.-P. & Gen. Mgr.,
J. C. Nelson, Syracuse; Sec. & Treas S C Stivers, New York.
-V.115.
P. 73, 1837.

JACKSON, MISS.

JACKSON PUBLIC SERVICE CO
ORGANIZATION.-Incorp. In MISS. In 1920 and took over the
property of the Jackson Light & Traction Co. (for history see 'Electric
Railway" Supplement of Oct. 30 1920) as per plan in V. 110, P. 1973.
Management and ownership of the present co. Is held by the American
Public 'Utilities Co., which owns the entire 8600.000 outstanding stock.
,
STOCK AND BONDSMaturity.
Date. Interest. Outstanding.
Capital stock, $600.000 ($100)
1st Mtge. Serial bonds $3.-1 1919
Oct. 11934
See text 1$ 00 0
30
64
:2
ono 000 $100. $500 & $I.000)c i Chicago Trust Co. Chicago. Trustee.
Stock.
-All owned by the American Public Utilities Co.
Bu)NDS.-The 1st Mtge, bonds bear int. at the rate or 5% up to April 1
1922 and thereafter at 6%. Of'he remaining bonds $1 696.000 are reserved
for extensions under certain restrictions. A sink, fund of an amount equal to
% of outstanding bonds is provided for beginning July 1 1924 to be
applied to the purchase or redemption of these bonds at not over 102 and
int. are callable at 102 and int. on any int. date on 40 days' notice. Int.
payable in New York and Chicago.
PROPERTY.
-Owns and operates the street railway system in Jackson,
Miss. comprising about 14 miles of track. Also does the gas business and
sap ule .
l hpleg electricity for light, heat and power. Has city contract for street
s
RAILWAYIA&CKLIrliNT ,COT.ENN.
JACKSON
O RGANIZATION.-Incorporated in Tennessee in July 1906. and is successor to the Jackson & Suburban Street Railroad Co. Franchises expire
in 1963. Does lighting and power business in addition to street railway.
oSTnK A N.000 ( NDS-- Date.
$45 0130 10 )
0
Interest. Outsnding. Maturity.
Outstanding.
$ 0
_.
Common
$450.000
Q-P
Preferred 6% cum
250.900
First mtge 8600.000 ($1,000)1 1906
5 g .T-J
494.000 Jan 1 1937
No s f, ederieem at 105. _c(FideiIty & Columbia Tr.Co., Louisville,Tr.
Bonds.
-3106,000 bonds are held in treasury.
EARNINGS.
-For calendar year 1921, gross. $238.197; net, after taxes
$65,698. In 1920. gross, $228,382; net, after taxes, $45.570.
ROAD -Operates 74 miles of track. 72 and 50-lb I' rails.
-P. & Gen. Mgr., S. S. Bush
OFFICERS.-Pres- C. E. Claggett; V.
Ge
Ky
v.Lewis;i Treas., Fidelity & Columbia Trust Co., all of Louis.
s
Geo..
o.

JACKSON v ti..bs, FLA.

JACKSONVILLE TRACTION CO -Trolley
-Controlled by the Middle
MICHIGAN GAS & ELECTRIC CO.
Receivership.
-On Oct. 30 1919 E. J. Triay was appointed receiver for the
West Utilities Co.
refusal of the public, through referendum vote,
company,
ORGANTIZATION.-Incorporated In Maine on Nov. 19 1906 as permit thefollowing the increase fares from 5 cents. V. 109, P. 1700. to
company to
Coke Co. Name changed to the
the Houghton County Gas &
-In Aug. 1920 the receiver was auth, by the
Receiver's Certificates.
above Feb 14 1917
The company acquired, effective Jan. 1 1917, the
$143,690 of receiver's certifs.,
Constantine Hydraulic Co., Three Rivers Light & Power Co.. Three Rivers U. S. Dist Court to issue taxes and to meet the cost of proceeds to be used
street paving. V.
Gas Co., Milling & Power Co., and the Marquette County Gas & Elec. Co. to pay State and county
Ill. p. 692
excluding the street railway, which see below).
°ROA N IZATION.-Is are-Incorporation In Mass. in March 1911 (V.92,
Interest. Outstanding. Maturity. p. RAI) of the Jacksonville Elec. Co.. which was a consolidation of the Jack'
STOCK AND FIOND9Date,
864(6)00:00(0)00
Common $1.150
sonville St. Ry. Co.,the Main St. RR.Co. and the Jacksonville Elec. Lt.Co.000($100)-Oct '22 1% Stock of old company was exchanged, share for share, for stock of new comPre cum $400.000 ($100)____
6%
Prior lien stunk A750 000
163 900 Oct '22 1 3 % pany. Railway franchise expires in 1932. Does entire electric railway bus4
.....
7%
First & ref 83,000.000 $luH, . 1917
690.600 . Ian 1 P432 'nese In Jacksonville. $350.000 corn stock is held by Pub Serv. laa vest. Co.
5 g J-J
$500, 81.001)) gold _ _c• tf Central Trust Co. of Illinois. Chicago. trustee.
On Feb 28 1914 shareholders authorized $500.000 additional pref. and
372,000
Jan I 1939 $500.000 additional common, making 11.000,000 pref. and $1.500.000
M Co 0 & El 1st M $1,0001 1010 6 g J-J
1
000 31.0001 gold .. ...cs.tf First Trust & Say. Bank, Chicago, trustee,
66.000
Bough Co Gas & Coke Co 1906
See text
5 g F-A
'°m m°n. being una ble 6o ref10. 6 te the $750.0006% notes due Mar. 1 1919,
The co. V "0 7 t3 69na ne
$350,000 ($1,000) g c tfjCentral Trust Co. of Illinois, Chic .rtrustee. the following protective committee was formed and has issued a can
p I I
Constantine Hydraulic Col 1905
Apr
5 g A-0
for the deposit of these notes. A sufficient majority of the noteholders
00
82.50 0 ($1 nom *mid c tfiCentral Trust Co. of Illinois. Chic.. trustee. have assented to the deposit agreement to insure the success of this measures
Three Rivers Gas Co 875.0001 1,
59.000
Oct 1 me
5 g A-0
107
V 108 p. 1275. In April 1920 we were informed that over 95% of the
tr6
. 2 ein
f Detroit Trust Co.. Detroit, Mich., trustee
tes m tten
norornhaid eeez deTed.
nands.-The 1st & ref. 5s are secured, In addition to their lien on the
Notes.
-Allan Forbes. Stedman Buttrick
property, by pledge of entire capital stock (with exception of directors' °man G. Wood. Edwin S. Webster. Depositary, State Street Trust Co.'
7
p. 12
n 192
shares) of the Marquette County Elec. By. Co. Sufficient are reserved to Boston. es
IncreaseM
1 . co. was auth. by the Fla. RR. COMMIS-.
5 the
retire prior liens and the balance for corporate purposes. Are callable at
Pare
-cent fare. V. 112, p :372. A petition for an injunction
102.4 & Int. on or before Jan 1 1927 and at 101 & int. from Jan. 1 1927 to 410n to charge a 7
Jan. 1 1931 on three weeks' notice
Of the 1372.000 Marquette County restraining the co. from collecting the 7 cent fare was denied. Vol. 112
Gas & Elec. Co' 1st 69 reported outstanding. $139 000 have been assumed
p. 932.
-See V Ill. p. 2140.
Valuation.
by the Marquette County glee Ry Co (see below), which has acquired
Interest. Outstanding. Maturity.
STOCK AND BONDS- Date.
and owns a part of the property upon which the mortgage Is a lien. Sinking
ee text
e eXt
$1,000,000
fund of 1% from 1913 to 1915 and 2% thereafter. Are callable at 105 on Common 81.500.000 4100)- -___
500.000
6
any int. date. The Houghton County Gas & Coke Co. 1st 5s are due seri- Pref6% cum S1.000.0004100)
tge
5 al-S
869.000 Mar. 1 1931
ally on Feb. 1 as follows: 1923-24. $5.000 per ann.; 1925-29, S6.000 per ann.: First coesol mtge $5.000,001 1511
($W and 111.000)____cstf Int. at State Street Trust Co.. Boston. True.
In 1930. $10.000, and In 1931 the remainder. The 1st M. 5s of the Con5 g M-N
1,245.000 May 1 1927
stantine Hydraulic Co. are subleet to call at 105. The 1st M. 5s of the facksonv Bloc 1st M (as- 1902
50.0 stona Trustee.
m,
sumed) gold(81.000)c5_ n tf f Int. at American Trust Co.. Boston,r i I1
99
Three Rivers Gas Co. are callable at 10.5 on any int. date
6 M-S
OFFICERS.-Pres.. L. E Myers; V.
-Ps., G. W. Hamilton. Paul B. 2-year coupon notes $1.000.-1 1917
000 g ($500 & $LOW) --C*JInt. al State St. Trust Co.. Boston. Trustee.
Simons and Roy Campbell; Sec., R. B. McKee; Asst. Sec., B. A. Waindl;




62

ELECTRIC RAILWAYS

Stock.-$100.000 common stock not reported outstanding held In treasury.
Non-taxable in Massachusetts.
Bonds.
-Of the 1st consol. bonds. $1.245.000 are reserved to retire Jacksonville Elec. 1st M. and $2.667.000 are for additions and improvements at 80% of cost. Subject to call on any Int. date as a whole or in part
for sinking fund at 105 and int. Future ISRUa9 of these bonds may bear
interest at a lower rate than 5% if so determined by the directors. Sinking
fund. 1% per annum of bonds out began Mar. 1 1917. V. 92, p 1564.
*50.000 in sinking fund canceled and $169.000 in treasury. Jacksonville
Elec. Co. bonds are subject to call as a whole at 105 and interest on any
Interest date. A sinking fund of 1% annually of bonds out commenced
May 1 1907, which may be used for extensions and Improvements or in
purchase of bonds. $5.000 bonds have been canceled. The coupon notes
are callable as a whole at 100 and interest on 30 days' notice.
Dividends -Paid 1
quer. on pref. to May 1915* In Aug.'15 paid et%
and same rate quer. to and incl. Nov. 1916. Feb 1917 div. passed.(V. 104,
p. 361). None since. On old Electric Co. corn 6% ann. from Aug. 1 1905 to
Aug. 1 1910, when rate was increased to 7% and same amount paid to
Feb. 1911. On new Traction Co. corn. Initial diy.-1 %-paid in May
1911: same rate ouar. to and Including Nov 1914. None since
EARNINGS.
-For 12 months ending June 30 (no later published):
YearGross. Net (art. Tax.) Interest. Sk.. etc., Fds. Surplus.
$152.265
1919
$177.139
*1.025.601
def.$24.874
170.427
241.029
781.551
1918
70.602
ROAD.
-Operates 64.1 ranee of equivalent single track. Has 118 cars
Gauge 5 feet. Power plant capacity 3.200 k. w.
OFFICERS.-Pres., Geo. J. Baldwin, N V.; V .-Ps..Cbas.F.W.Wetterer
and Harry H. Hunt; Treas., Henry B. Sawyer: Clerk. Geo. A. Peirce; Mgr.,
Hardy Croom, Jacksonville, Fla.; Gen. Mgrs., Stone & Webster Mgt.
Assn., Boston.
-V. 111, p. 2140; V. 112. p. 372, 932; V. 113. p. 628.

•

.

JAMESTOWN, N. Y.

-Trolley.
JAMESTOWN STREET RAILWAY.
ORGANIZATION.
-Incorporated Oct. 18 1883. Franchise runs till 1982.
Interest. Outstanding. Maturity
STOCK AND BONDS- Date.
Stock $250.000 (par $50)
$250.000
First mortgage $300.000 gold I 1893 6 g J-J
300.000 Jan 2 1923
c*'Int. at Guaranty Trust Co.. N. Y., Trustee
($1.000)
Onrrent liabilities Dec 31 1921
2,088,032
-For years ending Dec. 31:
EARNINGS.
Gross.
Oth.Inc. Chos.ATaxes.
Net.
YearnahMeg•
$417.540
$29.568
$154.691
1921
$97.165
def.$27.948
37 229
68.616
401.699
.1920
154.681
def.109.294
34.630
313.804
28.794
191,9
131,679
def. 68,255
-Owns 26.545 miles of track, 61 cars. 2 sweepers.
ROAD.
OFFICERS.-Pres., A. N. Broadhead: Sec. & Treas., S. B. Broadbead. Gen. Mgr., G. E. Maltby, all of Jamestown.
.
-A trolley road.
CHAUTAUQUA TRACTION CO.
-Incorporated in New York OD March 7 1903. Is
ORGANIZATION.
controlled by the same interests as the Jamestown Street Ry.
STOCK AND BONDS- Date,
Interest. Outstanding. Maturity.
Stock $500.000 ($100)$500.000
First mtge. *600.000, goldl 1904
5 g A-0
600.000 April 11934
($1.000)
.c(Int at Title Guar.& Tr. Co., N. Y.. Trustee
Current liabilities Dec.31 1921
766.095
Bands -No sinking fund and are not subject to call.
EARNINGS.
-For year ending Dec. 31
Yearnth.Inc. Chos.&Taz. Deficit.
Net.
Gross.
$188.932
1921
def.$25.738
$23.199
$228.562(?) $83.004
182,133
1920
def. 15.610
23.189
78.410
70.831
-Operates 26.73 miles of track from Lakewood, where connecBOA D.
tion is made with the Jamestown .St. Ry.. to Mayville, there connecting
with the Pennsylvania RR.. and to Westfield. N. V..connecting there with
the Lake Shore & Mich. So. and the N Y. Chicago & St. Louis Ky.. and
from Westfield to Barcelona-on-Lake Erie. Standard gauge; SO-lb. T rails
OFFICE RS.-Pres.. A. N. Broedhead: V.
-P.. Wm. Broadhead; Treas..
B. B. Broadhead; Sec.. W. R. Reynolds. Mgr., Geo. E. Maltby.

JERSEY CITY, N. J.
PUBLIC SERVICE CORPORATION.
See statement and map under "Newark. N. J."

JOHNSTOWN, PA.
-A trolley road.
JOHNSTOWN TRACTION CO.
ORGANIZATION.-Incorp. in Pennsylvania on Feb. 24 1910. Was
Incorporated originally to take a lease for 18 years from Jan. 5 1910 of the
Johnstown Pass. Ry. from the American Rys. (Phila.). In Jan. 1914 the
Johnstown Pass. Ry. and the Johnstown Trac. Co. were merged under the
title of the Johnstown Traction Co.. the American Rys. Co. having sold its
Interests. Franchises perpetual.
-Effective June 1 1920 cash fares were increased from
Fare Increase.
6 to 7 cents, tickets to be sold at 4 for 25 cents. V. 110 p. 2568. In Mar.
1921 the P. S. Comm. auth. the co. raiee ticket fares to 4 for 28 cents or
5 for 35 cents, but refused to permit an increase in cash fares from 7 cents
to 8 cents. V. 112, p. 1399.
Interest. Outstanding. Maturity.
STOCK AND BONDS-- Date.
$875.000
Common 1.000.000 par $50_-___
1.0 _
Pf $1.000.000 7% cum 4
2,000,000 July 1 1943
First & ref M $5.000.000 s fj 1913 5 g
($500. S1.000) gold_ _centf Logan Trust Co., Philadelphia. Trustee.
399.000 Dec 1 1929
4 g J-G
JohnsPassRy conM .$800.000 1899
g($1,000)red any intday Ott Int. at Guaranty Tr. Co.. N. Y.. Trustee
1.601.000 Dec 1 1931
4 g J-D
Johns Pass Rv ref M *2.000,-i 1901
000 gold ( 1.0O0).. cnttfInterest at Johnstown Trust Co., Trustee
-Of the first & ref. mtge. 32.000.001) are reserved to retire JohnsBonds.
town Pass Ry. 4s; the remainder ($1,000 0110) reserved for future extensions, &c. Red at 102 and int. Spiting fund of 1% annually began Oct. 1
1917. Of the Johnstown Mee mtge of 1901, entire issue may be called
at any time at 105 upon six weeks' notice.
-For years eliding Dec. 31:
EARNINGS.
Net Aft.Tax. Bond Int. Bal.,Surp.
Gross.
$188.600
$2S0.953
$1.253,777
$92.3a3
1921
189.349
283.791
1,221.300
94,442
1920
-Owns and operates under perpetual charter and franchise
ROAD.&C.
entire street railway system of Johnstown. Pa.. and vicinity. Total
she
trackage 53 miles.
-V.112, p. 2537; V. 115, p. 543.
OFFICERS.-Pres., E. M.du Pont.

JOLIET, ILL.
JOLIET & EASTERN TRACTION C(1
Rereivership.-It was reported in Feb. 1922 that the property was in the
hands of F. C. Eckmann, receiver. V. 114, p. 738.
-This company, incury. In 1914 in Illinois, repreORGANIZATION.
cents the reorganized portion of the Joliet & Southern Trac. Co. operating
and Chicago Heights. This property was appraised by the
between Joliet
Illinois P. U. Comm.. which authorized steel( to be issued to the amount ol
$269.000 and additional $31,000 for cash received. There is outstanding
0 0
$30 .00 capital stock. No bonds
-On April 15 1922 the receiver was authorized
May Resume Operations.
by the Illinois Commerce Comm. to discontinue operations. V. 114,
reported
P. 1651. Compare V. 114. p. 738. In May 1922 it was Intereststhat the
succeed
road might be put into operation again if Franfort business
the stock. V. 114. p. 2241.
In acquiring 52% of
EARNINGS.
-For year ending Dec. 31 1921. gross, $81.823; net, after
taxes, def.. $3,382. In 1920. gross. 01.235: 1919. gross $80,480.
-Total length of all track, 28 miles. a:tainting from Joliet to
ROAD.
-lb T rail: standard gauge
Chicago Heights 60
-Receiver. F. C. Eckmann, Jollet.-V. 99, P. 1832; V.
OFFICERS.
107, p. 1385; V. 114. p. 738, 2241.
AURORA PLAINFIELD & JOLIE1 RR.
This is the division of the former Joliet & Southern Traction, extending
fro m Joliet to Aurora. 20 miles. and 2 miles of track in Joliet. purchased by
the bondholders' committee at foreclosure sale in Feb. 1914. Was known
as the Aurora Plainfield & Joliet Ry. up to Oct. 1 1920. when the property




[Vol,. 115.

was purchased by the present co. V. 111, p. 1565. Capital stock. cone..
$266..10n. pref.. 3266.0e0
let Mtge. bonds, e225.000. Teta) revenues for
the year ended Dec. 311921. $148,404; net, after taxes & deprec.. $23.149:
In 1920. total revenues, $157,247; net., after taxes & deprec. _ $37.004.
For the division of the old Joliet & Southern Trac. Co.. extending from
Joliet to Chicago Heights,see Joliet & Eastern Traction Co. above. Pres..
F. K. Shrader, Chicago; Gen. Mgr.. R. A. Moore.
-V. 111, p. 1565.
BLOOMINGTON PONTIAC & JOLIET ELEC. RY.-A trolley road.
ORGANIZATION.
-incorporated in 1903. Private right of way except
In cities, where franchises run 50 years.
STOCK AND BONDS- Date.
Interest. Outstanding. Maturity.
Stock S2.500.000 ($100)_
1195.500
First mortgage $2,500.000 Fa 1905
300.300 Sett 1 1935
5 g M-S
($10J. $500 and $1.000) _(Int. at Cont.& Comm.Tr &S. B • Chic..Tr.
Int. on bonds is guar from Mar. 1 1916 by the Pith Serve Co.of Nor. Ill.
EARNINGS.
-For year ending Dec. 31 1916. gross. $25,756; net (after
taxes of $1.680), loss. *1.201. In 1915. gross. $24.441: net, (after taxes
of $1,698). loss. $61.
OFFICERS.- Pres., Frank J. Baker; V.
-P., Chas. A. Munroe; Sec..
Paul D. Sexton; Treas.. John H. Gulick, all of 72 W. Adams St., Chicago.
III. Office at Pontiac,
85. p. 1004: V. 90. p. 235; V. 96. p. 651.

KANSAS CITY, MO.
KANSAS CITY RAILWAYS.
Receirership.-On Sept. 9 1920 Judge Stone in the U. S. Dist. Court for
the Western Division of the Western District of M e at Kansas City, Mo.,
appointed Frank Co. Niles temporary receiver for the co. on application of
the Kansas City Refining (Id. V. 111,p. 1083. 1278, 1472, 1566. On Oct
26 1920 Judge Stone of the U. S. Circuit Court of Appeals appointed Fred W
Fleming and Francis M. Wilson perm. receivers for the co. V. 111. p. 1752.
ORGANIZATION.
-Organized under Missouri laws June 6 1914 and
on Feb. 15 1916 took over the properties of the Metropolitan Street Ry..
Kansas City Elevated Ry. and Kansas City & Westport Belt Ry. In accordance with the plan of reorganization of the Kansas City Ry. & Light
Co In V. 101. p 614. 689. 1628. Owns and operates entire street railway system serving Kansas City and independence, Mo., Kansas City and
Rosedale, Kan., and Jackson County, Mo.. population served. over 450,000
Franchise Ordinance, ,tc.-The exclusive 30-year franchise granted
by Kansas City July 7 1914 fixed the capital value of the property_ in
Missouri at $25,648.806. plus capital additions after June 1 1913. (Valuation placed on properties In Missouri and Kansas as of June 30 1920.
$36.352.971. On the Mlesouri capital value the company receives 6%
cumulative, any balance of aliesotirl earnings after the application of $6,148.807 of surplus earnings to additions and extensions, to be
credited two-thirds to the city and one-third to the company. The city
having no interest in Kansas earnings, the income from operation of the
Kansas property belongs entirely to the company. Not less than 16%
of gross earnings must 1)e applied to walla.. renewals. depreeu, &c. and
not less than 4% to damage claims. Fares (unless reduced at experise of
city's share of surplus income) are fixed at 5 eents for adults and 2(4 cents
for children between 8 and 12 (but see below). The city has the right to
purchase the property In Missouri at or before the end of the 30
-year period
on the basis of aforesaid valuation and subsequent additions. Operation
of the properties to be under the supervision of it Board of Control. consisting of (vacant) for the Railways Co. and E. M. Stayton for the city.
City also nominates 5 of the 11 directors. See franchise ordinance in
detail In V.99, p. 196. and also V. 99. p. 119.
Freight Service.-Operates an express and treIght service teieween Kansas
City and indenendetive. Mo., and Dineen'. Mo. See also V 107. p. 905.
Rerouting of System Adopted.
-V. 112. p. 2190 Compare V. 111. p. 1949.
Wage I ncreases.-V . 107. p. 41)2, 1837; V 109. p. 1161; V. 110. p.2292.
Service at Cost Plan Proposed.-See V. 110. p. 1289.
Valuation.-Ser V 112, p 652
Fares, &c.
-On June 2 1918 was auth. by the Mo. P. 8. Comm. to.
Increase fares from 5 cents to 6 cents, effective July 15 1918 for one yearOn Sept. 7 1918 Chief Justice li 1 In the Missteiri supreme Court overruled the action of Circuit Judge John G. Slate who refused to permit the
co. to file a supersedeas bond In the 6
-cent fare case, thus giving the city a
5
-cent fare.) and auth. the co. to continue charging a 6
-cent fare, pending
final decision by the State Supreme Court. V 107, p. 1192. This decision
was handed down on Dec. 31 1918 and upheld the ruling of the Mo. P. S.
Comm. V. 108. p. 171. The city appealed to the U. S. Supreme Court,
but on Nov. 10 1919. that court upheld the ruling of the lower court.
V. 109. p. 1891. On July II 1919 the alie P. S. Comm. auth. the co. to
continue the 6-cent fare, pending invisstigation by the Comm. of the cos.
application for auth. to charge a 10-cent fare with tickets at 2 for 15 cents.
V. 109. p 270. On Aug. 20 1919 the co. wa- auth by the MO.P S Comm.
to Increase fares from 6 to 7 cents On Dee 14 1919 the Mn. P. 8. Comm
auth. the to, to increase farm from 7 to 8 cents, tickets to be sold at 2 for
15 cents and 5 for 35 eent.q. gee also V. ill. n. 25*10 V. 113. n 2090.
Effective May 18 1922. the 8
-cent fare in Kansas City was extended for
six months by the Mo. P. S. Comm. V. 114. p. 2580. Effective Jan. 2
1920, Federal Judge John 0. P.illock authorized an increase in fares in
Kansas City, Kan., from 6 to 8 cents. The order restrains the Kansas
P. U. Comm. from enforcing its 6
-cent fare order anti enjoins interference
with the collection of 8
-cent fares. V. 110. p. 167. The Kan. P. U.
Comm. has appealed to tutt U. S. Supreme Court. No further developments up to Oct. 11 1922.
In April 19211 the Mo. P.S.Comm.denied theco's. application for auth.
to Increase fares from 5 to 8 cents in Independence. Auth. to Increase
ares to 10 cents between Kansas City and Independence was granted.
effective April 1 1920. V. 110. p. 1526.
Jitney Regulation.
-On Mar. 21 1921 the City Council passed an ordinence prohibitina the operation of jitneys on streets where electric railways
operate. V. 112. p. 1399. An ordinance became effective Aug. 12 1921
requiring the consent of a majority of property owners on proposed jitney
routes before such routes are established. V. 113. p. 848.
In Dec 1917 testieu 31.000.000 0% 2-year con Emcee tor expenditures
already made or to he made for Improvements extensions &c.
In Fen 191g the Mo. P. S. Comm. auth. the co. to ISSUe S1.151.830 additional capital stock, representing Improvements made since May 1 1915.
Up to Oct. 11 1922 this had not been issued
In July 1918 issued $7750,000 3
-year coll. 7% notes to retire the $6,-year notes due July 11918. and to pay in part for Improvements.
259.000 3
extensions. &c. V. 107, p. 181.
On Aug. 27 1919, Eastern bankers loaned the co. S1,000.000 on the
personal endorsement of J. Ogden Armour.
The 31.000,000 6% ser. "A" coll. notes due Dec. 1 1919 were not paid
when due. tier has any int, been paid on tame since June 1 1919. V. 111.
p. 1279, 1752
The$7_,_750,000 7% coll. notes due May 15 1921 were not paid at maurity. V. 112, p. 2083.
Intert.11 Payrnents.-The July 1 1919 Int. on the co's. 1st and 2nd mtge.
bonds was paid Aug 28 1919. V. 109,_p. 982. Compare V. 109, p. 173.
Subsequent int, not paid when due. The int. due Nov. 15 1919 on the
co.'s 3-yr. 7% notes having been defaulted and in view of the fact that
further defaults were impending, a committee was formed to protect the
Interests of holders of all the co.'s bonds and notes. V. 109, p. 1986. On
May 1 1922, however, the general protective committee ceased to serve as
such in connection with the 3-yr. 7% coll. notes. 2-yr. 6% coll. notes and
2d mtge. bonds,so as to confine Its representation to the tat mtge. bonds of
sists of: The committee for the 1st mtge. 5s as at present constituted conthe co

Committee for 1st Mtge. 5s.
-Chairman. Arthur Reynolds; Alfred H.
Aiken. John E. Blount Jr., J. P. Downing, Geo. K. Johnson, Melvin A.
Traylor: Sec., Jas. J. Fitzgerald, First Trust & Says. Bank, Chicago.
Compare V. 110, p. 2568.
Depository for 1st M. Bonds.
-First Trust & Says. Bk., Chicago, Ill.;
Chase Nat, Bank, N. Y.; Penna. Co. for Insur. of L. & Or. Annuities,
Phila., Pa.; Old Colony Trust Co.. Boston. Mass.; First Nat. Bank, Kansas
st ru ois, m oin Trust Co., Milwaukee. Wis.; St. Louis Union
Fir toNV iscons
.s
.
TrustMCo°..,;
A separate committee composed partly of the members of the original
general committee has been formed to represent the holders of the co.'s
&
." and 2-yr.6% coll. notes,Series "A"
7% coil, noi ee.Swede:
t ee
only;
-Chairman, Gerhard M. Dahl; •
Committee for Ar. etn2is ing of Notes.
Yr C li.
.
mm
Frederick H. Ecker, Henry C. Olcott, H. L. Stuart, Harry A. Wheeler;
Stanley Clarke, Sec., 61 Broadway, N. Y. City.
Depositories for 3-Yr. and 2-Yr. Coll. Notes.-Contl. & Comml. Trust
& Say. Bank, Chicago, Ill.; Chase Nat. Bank, N. Y.;Penna. Co. for Insur.

OCT., 1922.]

ELECTRIC RAILWAYS

sr Lives & Granting Annuities, Phila., Pa.; Old Colony Trust Co., Boston,
Mass.; New England Nat'l Bank, Kansas City, Mo.; First Wisconsin Trust
Co., Milwaukee, Wisc.; St. Louis Union Trust Co., St. Louis, Mo.
So far as was known up to Oct. 11 1922. no committee had yet been
formed to represent holders of the company's 2d Mtge. bonds.
Stockholders' Protective Committee.—Chairman. James E. Gibson; C. D•
Parker. Robt. M. Goodlet. Henry Florsheim, Edw. J. Corrigan. V. 111.
P. 2228.
Validity of 1st & 2d Mtge. Bonds Questioned.—See V. 112. p. 652.
Interest, Outstanding. Maturity
Date.
STOOK AND BONDS—
See text.
See text
A-0
Capital stock
$15.917.400 July 7 1944
5 g J-J
_c*&r*cpt 1915
1st ',Age gold
3.024.000 July 7 1949
.291.0n0) Series A__ f 1915 6 J-J
Id M ($4
1,000,000 July 7 1944
5 J-J
do ($1,000.000) Series B_i 1915
Redeemable at 103 and int.INew York Trust Co.. N. Y.. trustee,
1,000.000 Dec 1 1919
6 g J-D
con gas sows see "A"($100, 1917
7 g M-N15 7,750,000 May 15 '21
-c*.tf 1918
$500 and $1,000)
Continental Tr. & S. Bk., Chicago. trustee
47.313 To Apr 1923
Oar trust notes
126,297 July 1 1944
See text
Deferred injury & dam'ge ctfs_ 1915
16,250 Oct 11 1922
Mtged notes on purch d prop__ 1918 5 & 6%
to Nov.25'23
Stock.—The capital stock,fully paid up,is in the nominal sum of $100.000
and is represented by 62,716.7 preferred and 63,620.5 common parts of no
par value. Trustees for the stock are Robert J. Dunham, Charles W.
Armour and Charles N. Black. It is provided that whenever a corporation
can be lawfully formed with pref. and corn. shares of no specified par value.
with authority to take over the stock of another corporation as Its assets.
the trustees shall cause one to be organized and shall turn over to it the stock
in their custody the beneficial certificates to be canceled and replaced by
pref. and corn. shares.
Notes.—The 3
-year notes are secured by $10,651,000 1st M. bonds, of
which $8,076,000 were originally issued as 5% bonds, but upon which the
so. pays an additional 1%; the remaining $2,575,000 were issued as 6s.
The former are pledged at 75% and the latter at 82%. Additional notes
may be issued only upon pledge of additional 1st M. 6%s in these ratios.
or at the co.'s option, upon pledge of 1st M. 5s at 70%. Red. all or in
-year coll
part. upon 30 days' notice.at 100 & int. Tax refund In Penn. The 2
notes outstanding are secured by $1.219.600 6% 1st M. bonds. Red.. all o
part. upon 30 day.' notice at 100 & I. Int, on both payable in N. Y. or
Chicago without deduction of normal Federal income tax of 2%. V. 105r
p. 2543; V. 107. p. 181.
First Mortgage Bonds.—OP the $15,917.900 1st Mtge. bonds now outstanding 510,150.200 were issued under plan of reorganization in retirement
of securities of predecessor companies,the remaining $5,767,200 being issued
for the retirement of receivers certificates, cash requirements of reorganisation and $500.000 for capital improvements to be made in the immediate
future. In addition to the $15,917,400 of bonds outstanding. $,10,141.000
-Year 7% coll. notes, $1,219,600 as security
are pledged as security for the 3
for the 2
-Year 6% coll. notes, $510,000 as security for an issue of $418.000
coll. notes, $230,000 as security for jadgments in damage suits,
3
-Year 7%
and 855,010 are held In the treasury, making a total of $28,073.000 Issued.
$8,076,000 of pledged 1st mtge. bonds originally issued bearing interest at
6%,have been modified by agreement to bear 6% and the remainder are 6%
bonds. Additional bonds may be issued for new construction, additions,
extensions, &c. (in Missouri only on certificate of Board of Control), in
the ratio of $1.000 of bonds for each $1.100 expented. Denominations:
c* $1,000, $500. $100; r* $1,000. $5.000 and $10.090. Interest payable
in New York, Chicago or Kansas City. Callable as a whole or in part at
103 and int. on any int, date on 60 days' notice. Trustee. Continental &
Oommercial Trust & Savings Bank, Chicago. See V. 102, p. 2254.
Second Mortgage Bonds.—A sinking fund of $105,820 per annum, which
began Jan 1 1916. Ls expected to retire issue by maturity. $366.400 in
sinking fund and $690 in treasury (not included in amount reported outstanding) as of June 30 1920.
Deferred Tniury and Damage Certificates.—Issued at par in exchange for
all approved claims inferior to old bonds but superior to the stock, for
which no other provision was made in plan. Callable at par. Bear 6,0
7
interest, cumulative, payable only out of net earnings. Not a lien on physical property, but status, as against owners of the stock. Is substantially
similar to that of a preferred stock.
Dividends—An initial dividend of 52 50 on the pref. beneficial certificates
was paid Oct. 1 1916. In 1917. April. $250: Oct.. $260. April 1918
dividend omitted. V. 106. p. 1577. None since.

63

KANSAS CITY POWER & LIGHT CO.
ORGANIZATION.—Organized in Missouri July 29 1922 as a consolidation of the ell Kansas City Power & Light Co. (for history see "Electric
Railway" Supplement of April 29 1922) and Carroll County Eloctric Co.
V. 115, p. 443.
Electric lighting and power franchises in Missouri and in Kansas are, with
minor exceptions, perpetual. Steam heating franchises in Missouri run
for a period of 30 years from 1905. The company owns the entire capital
&toes of the Edison Electric Light Co., the Standard Electric Light Co.,
Consolidated Elec. Light & Power Co., the Electrical Wire Subway Co..
Kansas City Heating Co.. Kansas City Transmission Co., Kansas City
Light & Power Co.. Kansas City Elec. Ry. Co., Kansas City Elec. Lt. Co.,
the Southwest Cities Investment Co., and the Electric Truck Co. Controls
the electric lighting and power business in Kansas City, Mo.. and furnishes
electrical energy in Wyandotte and Tohnson Counties. Kan., and Tackson
Platte and Clay counties. Mo.,and furnishes steam heat to Kansas nitv.Mn.
Also operates an electric light and power business in Carroll, Charlton and
Howard counties, Mo., and has coal rights in about 7,494 acres of valuable
coal lands.
All the out-tanding bonds of the old Kansas City Power & Light Co. and
the Carroll County Electric Co. (assumed by Kansas City Power & Light
Co. on the consolidation of the two companies) were retired from the proceeds of the $21,000.090 First Mtge. Series "A." 5s and the sale of 25,000
shares first prof. and 50,000 shares corn. stock. V. 115, p. 1328.
Valuation.—See V. 115, p. 443.
STOCK AND BONDS— Date.
Interest. Outstanding. Maturity.
Corn 350,000 shares (no par)__
250,000 she.
None
Partic pref 100.000 she (no par)
1st pref Ser"A"250,000 shares
(no par)
$7 Q-J 100,000 shs. Oct'22 $1.75
First mortgage; Series "A"1 1922 5 g M-S
21,000.000 Sept. 1 1952
(see text) gall
t.f1Cont'l & Comm.Tr.& S. Bk., Chic.,trustee.
Stock.—First pref. stock is entitled to cum. divs. of$7 per share per annum.
Preferred as to assets (to extent of $100 per share) and divs. Redeemable,
all or part, at $115 anci div., upon 60 days' notice. V. 115. p.443.
Bonds —The 1st mtge. bonds are issuable in series under certain restrictions for 75% of the cost of permanent taints.. &c An annual maintenance
and depreciation fund of 12 Si% of gross earnings is provided for. An annual
Improvement fund of 1% of the amount of this issue outstanding beginning
Apr. 1 1927 Is also provided for this fund to be applied to permanent impts.,
additions, &c., or to the retirement of outstanding bonds of this issue.
Series "A" are issued in the following demon's. c*S100. $500 & $1.010;
r 111.000, $5.000, 310.090 and $25.000; redeemable,all or In part,on 60 days'
notice, on or before Sept. 1 1946, at 105 and int.; thereafter on or before
Sept. 11950 at 102Si and int., and thereafter at 100 and int. Penn.4 mills
tax refunded. Int, payable in New York or Chicago. V. 115, p. 1328.
Dividends.—An initial dividend of $1 75 was paid on first pref. stock
Series "A," in Oct. 1922.
EARNINGS.—Of old Kansas City Power & Light Co. for cal. years:
Cal Year—
Gross.
tither Inc. lot.
Net.
1921_ _ _ _$6.683.030 $3,450,339 $127,707 $1,189,703 $1,469,457 5928.877
951,977 615,705
1920_ _
932,924
5,929,839 2.362,431 141.175
PROPERTY.—Owns 3 electric generating stations, aggregate installed
normal capacity of 81,150 k. w., and 36 substations with transformer
capacity of over 95,000 K. w. Has 207 miles of high tension transmission
lines, 316 miles of underground cable and 1,252 miles of low tension distributing lines. Of the installed capacity 60,000 k. w. is located at Northeast Power Plant, completed in Oct. 1920. This plant has an ultimate
capacity of 240,000 k. w.
OFFICE RS.—Pres., Joseph F. Porter; V.
-P. & Gen. Mgr., Hugh C.
Blackwell; Sec., 0. 0. Smith.; Treas., R. J. Clark; Aud., H.0. Davis.—
V. 10.i, p. 825, 1581; V. 107. p. 811; V. 110, p. 1851. 1955, 2231. 2526;
V. 112, p. 1622. 1862, 2080, 2311, 2512; V. 113. p. 2509: V. 114, p. 1760,
1791; V. 115, la. 314, 443, 767, 1216, 1328, 1539, 1638.

KANSAS CITY CLAY COUNTY & ST. JOSEPH RAILWAY CO.
On July 5 1915 the Interstate Ry. Co. was awarded a verdict for 51.500.000 against the company and the estate of George Townsend by a jury tio
REPORT.—For year ending June 30 1920 in V. 111, p. 2515.
the Circuit Court in its suit alleging that the defendant company had
x1920.
1919
Years ending June 30—
1918.
Revenue passengers carried
122 319.221 109 273.316 131 791.497 built its line between Kansas City and St. Joseph on a part of the right-of57.810 704 51 815.940 65.848.171 way obtained by the plaintiff (V. 100. p. 130. 288). Case reversed under
Transfer passengers
$9.037.176 56.649.996 $7.000.977 stipulated agreement of settlement.
Totas operating revenue
$910.96. def $8 980
Net operating revenue
1.635.763
$357.487 def.5524 440 $1,118 638
Net, alter taxes
ORGANIZATION.—Incorp. In Missouri in 1911 under a 200-year char24
13.388
13 388 ter. In Jan. 1913 the line from Kansas City to Excelsior Springs. Mo.. was
Int. on joint net oper. deficit
34.377
32.511
Miscellaneous income
29.596 fattened, and on May 5 1913 opened for operation Its line between Kansas
City and St. Joseph. 52Si miles. V 96. p. 1423. Also handles freight.
$391.838 df.5505.317 $1,148,234
Gross incom
In Dec. 1914 terminal service was begun to Kansas City for the Quincy
Omaha & Kan. City RR.(O. B. & Q.system). See details in V.99. p. 1910
City's share
Valuation.
--On Oct 24 1917 filed a request with the Mo. P. S. Comm.
$391.838 df.$505,317 $1,148 234
Company's share
for an addition of about 53.090.000 to Its valuation of $3,900,000 fixed
3 years previous by the Commission. The co. asked that a proper amount
Company's Income—
$459.588 df.$329.238 $1,003.139 be fixed for going value and for an additional amount for working capital.
Net from Missouri properties
df.72 462 df.198.489
127.743 &C. V. 105, p. 1896. On Jan. 15 1920 the P. S. Commission fixed the
Net from Kansas properties
17 411
4.710
17.352 value of all the property as of July 31 1917 at $4,800,000. V. 110. p. 562.
Misc Ilaneous
Freight Terminal.—The Kan. City Interurban Freight Term. Co. was la$391 838 df.$505.317 $1.148,234
Company's gross income
corp In Feb. 1917 to provide facilities in the city for handling interurban
$1,863.822 $1,709.547 $1,497,156 freight and express matter. Stock auth. and Issued. $100.000; bonds with..
Deductions—Bond interest
$100.000. of which 575.000 outstanding. The stock of the co. Is owned by
Kansas injuries and damages (paid
2.422
1,009
St Joseph Fiv.
n.026 Interests %Raw-fated with the Kanaa. City Clay ("minty
In cash)
167.055
175.243
85.071 aid the Kansas City Kaw Valley & Western Ry. The terminal was opened
Other deductions
Oct. 10 1917. Robt,P. Woods is Pres.; J. F. Holman, V.-Pres.; E. S. Bigedf.$1,641 463_ df $2391,115 df.$439,010 low, Sec. & Treas.
Net income
In Jan. 1921 the co. was auth. by the Mo. P. S. Comm. to reclassify its
x No later report issued.
capital
The total profit and loss deficit; -Tune 30 1920, after certain deductions, auth.stock. stock to $I 000.000 common stock and $6,000.000 7% cum.
pref.
Compare V. 112, p. 469.
was $6,631.996.
STOCK AND BONDS
-- Date.
Interest. Outstanding, Maturitg.
PROPERTY.—Over 314 5 miles of single-track equivalent, about 75%
paved: remainder on bridges r private right-of-way 1 power houses, corn 54.000.000($100;
52.450.000
See ter*
oapacity 60.000 k w.. and 13 sub-stations; 757 motor cars and trail- Prof 7% cum
7%
1.550.000 Oct.'22.1g
$6,000,000____ _
ers In addition to work cars.
1st mtge $10.000.000 ($1.- 1911
5 g M-S
3.229,00 Sept 1 1941
DIRECTORS AND OFFICERS.—Representing the company: Chas.
000 gold s f red at 105 after Equitable Tr. Co., N. Y., and J. F. DownW.Armour (Pres.); George S. Hovey, John G. Forrest, Herman P. Harbison
Sept. 1 1915
ing, Kan. City. True. Int. payable N. Y.
cod
Edward P. Moriarty, and P. W. Goebel. all of Kansas City, Mo. RepreBonds.—Unissued bonds can only be issued for 80% of the cost of persenting the city: William T. Kemper, Frank 0. Niles (V.-Pres.), Davis M.
Pinkerton, John W. W agner ant Jahn H. Wiles, all of Kansas City, ms. manent additions and extensions, under conservative restrictions. Sinkir.
.
ant Fret G. Butte, Gen. Mgr.—V. 110, P. 78, fund of 1 4% of bonds certified, began Sept. 1 1917.
J. A. H arder is Sec. & Treas.,
167, 465. 764, 1289, 1526, 2292, 2568: V. 111, p. 74, 1083, 1278, 1472, 1566,
Diridends.—On
paid regularly guar.
3
1752, 1919, 2228, 2321, 2515, 2520; V. 112, p. 62, 652, 1399, 2083, 2190; 1914, VA% paid; 7% pref. 1 4%•%. In 1916. 4%%. On common: In
1915 June, 1%
In 1917. 2%%.
V. 113, P. 848, 1471, 2080, 2819; V. 114, p. 2580.
In 1918, 2h%. In 1919. 2U %. In 1920,2,i%. In 1921. 3 3-16%. In
'
1922. lfs%.
KANSAS CITY POWER SECURITIES CORP.
ORGANIZATION.—Incorp. In Illinois on March 8 1921. Controls the
Kansas City Power & Light Co.—See that company below.
rocoiyod at anid of going • u peo,,,, and which we have
been un ablo to caofirm, in Bette that as a result of the consolidation of the
Kansas City Power & Li;ht Co., it 13 intended that the Kansas City Power
securities Corp. shall be dissolved.
CAPITAL STOOK.—Auth.. 50.000 shares common and 50.000 sharee
pref. (no par value). Outstanding, 38,179 corn. shares and 37.637 pref.
shares. The pr f. shares carry a preference of 55 per share per annum,
cum. payable quar. and In case of d,ssolution or liquidation of the company.
to the extent o $100 per share and all unpaid, accrued and accruing dividends thereon.
OFFIC RS1.—Pres.. Toseph F Porter* V.-Pres., R. J. Dunham Sec. &
Treas.. Chester 0. Smith.—V. 114. p. 1765.




EARNINGS.—For years ending Dec. 31:
Cal. Yr.— Gross.
Net. aft. Tax. Interest, &c.. Dividends.
$1.186.707
1921
5324.565
$155.872
$127,500
$1.1 W.078
$1 56 151
1920
$.12;.011
$11,1.0 10
1,041,965
$155.894
364,092
1919
$110,000

Surplus.
$41,192
$6‘)..5.51
$98.19

ROAD —Operates 51.9 miles between Kansas City and St. Joseph.
Mo., and 27.7 miles between Kansas City and Excelsior Springs. Mo..
total 77.61 miles. 70 and 80-lb. T-rail: standard gauge. Passenger
equipment, 24 cars 5 exp motor eara. 20 express trailers, 10 other cars and
1 American electric ditcher. 1 electric locomotive.
OFFICERS.—Chairman of Board & Pres., Allen G. Hoyt; V.
-P. & Gen.
Mgr- R. P. Woods: Sec. & Treas.. W. S. Tuley.—V. 105. p. 2184, V.160.
p. 607; V. 110, p. 562, 1849; V. 111, p. 1566; V. 112, P. 469. 2190.

64

ELECTRIC RAILWAYS

KANSAS CITY. KAW VALLEY $c WESTERN RAILWAY.
ORGANIZATION.-Incorp. in Kansas July 28 1909. The line between
Kansas City and Bonner Springs was placed in operation July 20 1914, and
from Bonner Springs to Lawrence. Kan., on June 1 1916: total miles track
operated, 42.314. Gauge. 4 ft. 8A in.; 70-lb. T rail. 10 passenger cars,
2 electric locomotives; 3 express and baggage, 8 box and 14 dump cars.
The road as projected will extend to Topeka. 26 miles beyond Lawrence
Connection is made with the street railway system of Kansas City. Direct
freight connection at Kansas City with C. it. I. & P. Ry., K. 0.-S. Ry
and K. C. Terminal Ry. At Bonner Springs with U. P. RR. and A 1'
& S. F. RR. Track connection at Lawrence with U. P. RR. Franchise
in Lawrence extends to 1916.
Kansas City Interurban Freight Terminal.
-See Kan. City Clay County
& St. Joseph Ry. below.
Fares.
-The I.-S. C. Comm. in Sept. 1918 auth. an increase in passenger
fares to 2.6 cents per mile. V. 107. p. 1192. On Oct. 28 1918 was auth
to increase freigh rates 25%. Compare V. 106. p. 2649. In March 1920
was authorized to increase fares to 3 cents per mile with a minimum 10
-cent
fare. V. 110. p. 1289.
STOCK AND BONDS- Date.
Interest. Outstanding.
Maturity
Stock. $1,500.000 ($100)$710.500
lit M $2.500.000 gold ($100) 1914
6 g F-A 1,070,000
Aug 1 1924
$500 and $1.000)__-c*tf Int at First Tr. & Say. Ilk . Chicago. Trust.
General mtge. $812.500 gold 1914
6 g F-A
528,500
Aug 1 1924
Int. at Corn. Tr. Co., Kan. City, Mo.. True.
Bonds.
-The issuance of first mtge. bonds for the construction of the
road is limited to $20.000 per mile; additional bonds may only be issued
for 90% of cost of improvements, betterments. additions and extensions.
tinder conservative restrictions. Red., all or part. at 101 and int. on any
int. date on 60 days' notice. $224,000 1st Mtge. bonds (included in amount
outstanding) are held in treasury. The gen. mtge. bonds are limited to
812.500 per mile; callable at 101 and int. V. 102. p. 1625; V. 104. p. 452.
EARNINGS.
-For calendar years:
YearGross.
Exp. & Taxes.
Net.
Interest.
Surplus.
1921
$469,719
$377,723
$91.997
$86.790
$5.206
1920
467.281
348,227
119,054
85,895
33.159
OFFICERS.-Pres.. K. D. Klemm, Kansas City, Mo.; V.
-P., & Gen
Mgr., W. R.Taylor, Bonner Springs, Kan.: Sec. & Treas.. E. S. Bigelow;
Aud., E. J. O'Brien. Office. 919 Baltimore Ave., Kansas City, Mo.V. 106.p. 2649: V. 107, p.1192; V. 110, p. 561. 1289; V. 112, p.744.
-KANSAS CITY LEAVENWORTH & WESTERN RAILWAY CO.
An electric road.
ORGANIZATION.
-Formerly Kansas City-Western Railway Co., for
history of which see "Electric Railway" Supplement of April 30 1921.
Freight terminals in Kansas City, Ran.. and Leavenworth. Nan.
STOCK AND BONDSDate. Interest.
Outstanding. Maturity.
Stock, $1.250,000
$1,015.800
Bonds. First Mortgage, $1,-1 1920
5%
937.600 July 1 1940
250,000
tint. at Cleveland Trust Co,. Cleveland, 0.
REPORT.
-For cal. year 1921, gross. $443.956; net, after taxes, $47,055;
interest on bonds, $46.880; bal., surplus, $175.
ROAD.
-Owns and operates 43.75 miles of road, of which about 18 miles
are within the city of Leavenworth and 25q miles between Leavenworth
and Kansas City, Kan. Enters Kansas City, Mo., over tracks of the
Kansas City Railways Co.
OFFICERS.-Pres. & Gen. Mgr., C. F. Holmes; V.
-P., W. H. Holmes;
Treas. & Gen. Counsel. McCabe Moore; Sec. & Aud.. E. V. Henderson.
General office, Kansas City, Kan.
MISSOURI & KANSAS INTERURB. RY.-Known as "Strang Line."
ORGANIZATION.
-Incorporated In Kansas under Gen. RR. law. In
1909 receiver appointed the previous year was aisceargeo, and old company
resumed control. V. 86. p. 1467; V. 89, p. 1281. Motive power changed
from Strang gasoline cars to electricity in 1908. V.87. p.614. Has private
right of way about gn feet wide from Kansas City to Olathe
Financing -On July 11 1919 was auth by the Kansas P U. Comm. to
Issue $500.000 1st mtge.6% bonds and $300,000 2d mtge. bonds. The new
securities will be used to refund the present 1st mtge. 5's and will provide
the co. with approximately $150,000 of new money for rehabilitation and
impts. V. 109. p. 477.
STOCK AND BONDte.
utstanding. Maturity
--------------Stock $1,000.000 ($100)
$1,000,000
6 J-J
First mtge gold ($1,000)
500.000
c 1919
1934
Second mortgage $300,000 1919
6 J-J
155,000 July 11034
Int. at Fidelity National Bank & Trust Co.,
($1.000)
Kansas City, Mo., Trustee.
EARNINGS.
-For calendar year 1921, gross, $163,391; net, $51.944.
In 1920. gross. $144,229: net, $29,737.
-Operates 20 miles of road from Kansas City through South.
ROAD.
ridge, Morrison Ridge, Milburn Place, Overland Park and Lenexa to Olathe
Enters Kansas City over tracks of the Kansas City Rye. 70-1b. rails.
Has 13 ears, including passenger and freight.
OFFICERS.-Pres., Henry C. Flower; V.
-P., Lester W. Hall: V.
-P. &
Gen. Mgr.. Thos. Riley: Sec. & Treas., H. B. Leavens; Aud., E. H. Stair.
General offices. Overland Park, Kan.
-V.87. p. 614; V.89. p. 1281; V. 109,
.
D 477.

KENNEBUNK, ME.
ATLANTIC SHORE RAILWAY.
ORGANIZATION.
-Incorporated In Maine on Jan. 1 1911 (per plan in
V. 91, p. 869) as successor to the Atlantic Shore Line Ry. (sold at foreclosure Dec. 1 1910). which company was a consolidation in April 1906 of
the old Atlantic Shore Line Ry. and the Portsmouth Dover & York Street
By. The former company In April 1904 purchased the Sanford & Cape
Porpoise Ely., the Mousam River RR. and the Sanford Power Co. In June
1909 the Alfred Light & Power Co. was acquired. Does a freight business.
Second & Gen. M. bonds were issued at 80 with 100% stock bonus.
-The initial obligatory coupon. due Oct. 11915. on the $641.750
Default.
4% ref. M. bonds was defaulted. V. 101. p. 1464. All other coupol.s
due on and after Oct. 1 1915 are also In default.
Receivers.-Pros. F. 0. Conant and Tress. Constant Southworth, both
of Portland. were appointed receivers by the U. S. Circuit Court, Portland,
V. 101, p. 1552.
Portsmouth Dover & York St. Ry.-On May 1 1917 W. G. Meioon, Portsmouth, N. 11., was appointed separate receiver and manager of this co
The property comprises 42 m. of track connecting Portsmouth and Kittery
with Dover and South Berwick. Including a line to York Beach.
-On Aug. 18 1917 was auth. by the Maine P. U. Comm. to Increase
Fares.
the number of its fare zones by three. In June 1918 filed with the Maine
P U Comm. a new fare schedule, effective July 7 1918, providing for an
increase in passenger fares from 6 to 7 cents (except in the zone between
Sanford and Springvale where a reduction from 6 to 5 cents was made)
Th. schedule also provided for an Increase in the price of strip tickets
having 9 coupons. from 50 to 55 cents. V. 106, p. 26.18. Effective June 1
1919 fares were increased to 8 cents each with strip tickets (7 coupons) at
50 cents. On June 1 /020 was auth. to raise cash fares from 8 cents to 10
cents. Effective Feb. 11 1922, zone fares in Biddeford, Kennebunk and
Sanford were cut from 10 cents to 5 cents. V. 114. p. 518. In Nov. 1920
the P. I). & Y. St. Ely. was authorized to increase cash faros from 7 cents
to 10 cents. V. 111. p. 2040.
Interest. Outstanding. Maturity.
STOCK AND BONDS- Date.
$1,000.000
Stock $1.000.000($100)---150.000 Jan. 1 1931
5 J-J
Gen lien M $150.000 red at 1911
102 and Interest.
See text
641.750 Jan. 1 1941
1910
Refund nage $2,600.000
361.500 April 1 1934
5 a A-0
At!Sh Line lstcons MS1.000.-1 1904
000g ($500. $1.000) c•-cpti Int. at Columbia Tr. CO.. N. Y., trustee.
120.000 Jan. 1 1924
5 J-J
Atl Sh Line let NI $125,000 cpt 1904
250.000 July 1 1938
5 g J-J
Alf Lt & P let M $250,000( 1905 Columbia Tr. Co.. N. Y., trustee
($500 and $1,000) _ _ _c pt lint. at
246.000 Jan. 1 1928
5 J-J
M..cpt 1898
Sant& Cape Porp'se
59.000
See text
6 J-D
Mousam River let mortgage _ 1)92
Portsmouth Dover & York St Ry.-Under Separate Receiver.
450.000 June
1923
“i J-D
P D & Y let M $650.000j 1903
)State Street Trust Co.. Boston, trustee.
gold ($1.000)
57,000 April 1 1925
5 g J-D
est( 1905
P D & Y 2d M and
lint. at Augusta. Me., Trust Co.. trustee
$100,000
200.000 Mar. 1 1917
6g
P K & Y St Ry let M $200.-f 1897
000 it ($500 and $1.000) Unt. as Waterville. Me.. Tr. Co.. trustee.




[VOL. 115.

Bonds.
-Of the refund. bonds, $1,893,500 (int, rate not to exceed 5%
are reserved to retire prior liens, $64,750 (int. rate 4%) are for Impts. and
additions and remaining $641.750 are outstanding and were exchanged for
securities of Atlantic Shore Line By. Outstanding bonds bear int. at 4%.
which was payable for first 5 years only If earned. No interest was earned
on these bonds during that period. The initial obligatory coupon falling
due Oct. 1 1915 was defaulted. V. 101. p. 1464. The Atlantic Shore
Line consols of 1904 are subject to call, all or any part, after ten years
at 105, to be drawn by lot. See V. 78, p. 2383. The Alfred Light &
Power bonds are subject to call at 105.
Mousan River bonds matured Dec. 1 1912, but have been extended.
Portsmouth Dover & York St. Ry.-The bonds of 1903 can be called at
105 and lat. The 2d 5s can be called at par on any int. date. The 6s of
1897 were callable at 105.
ROAD.
-Operates 37 miles of track. connecting Springvale, Sanford,
West Kennebunk, Kennebunk, Kennebunkport and Cape Porpoise with
Biddeford and Saco; thence over connecting lines to Old Orchard and Portland. See V 81, p. 1549. A link from York Beach to Kennebunk. 16
miles, was put in operation July 21 1907. Total, 53 miles. Owns 2
water-power plants and 1 steam plant with generating capacity of 3,000
It. w. FIas 22 passenger cars and 2 electric locomotives. 60 and 70-lb. rail.
REPORT.
-For calendar year:
Calendar
Gross
Operating
Net
Interest on Balance
All
YearEarnings. Expenses. Earnings. Taxes. Bonds. &c. Deficit.
1921
$224.651 $203.247 $21.404 $6,967 $80,895 366.458
1920
223.383
198.522
24,861
80.895
5.867
61.901
1919
184.106
170.262
13,844
72,382
80,895
5.331
OFFICERS.
-Receivers, Frederick 0. Conant and Constant Southworth.
Manager for receivers, S. T. Dow.
-V. 111. p. 2040; V. 114. p. 518.

KENNETT, PA.
WEST CHESTER KENNETT & WILMINGTON ELECTRIC RY.
ORGANIZATION.
-Incorporated in Pennsylvania on May 24 1905.
and is a reorganization of a company of the same name sold under foreclosure
In April 1905. On Feb. 26 1908 absorbed the formerly controlled Oxford
West Grove & Avondale St. Ry See V. 86, p. 670.
STOCK AND BONDS- Date.
Interest. Outstanding. Maturity.
Common $925.000
$525.000
Pref (375.000) 6% non-cum
75.000
First nage $1,000,000 gold 1905
5 g J-D
420.000 June 1 1935
$1.000)____c.tflInt. at Integrity Trust Co., Phila., trustee
($500 and
EARNINGS.
-For year ending Dec. 31 1921, gross, $6.1,257; net, after
taxes, def., $10,665. In 1920, gross, $80,518: net, after taxes, def., $2,316.
BOA D.
-About 20 miles of track between West Grove, Avondale, Kennett Square and Wilmington, connecting at Kennett for West Chester.
The extension from Avondale to Oxford, 12A miles, has been completed as
far as West Grove and is in operation to that point. Gauge, 5 ft. 2A In.
60 and 70-lb. T and girder rail.
OFFICERS.-Pres., Geo. Kessler, Phila.; V.
-P., Clarence L. Harper,
Phila.; Sec. & Treas., Philip E. Guckes, Phila.: Gen. Mgr., B. F. Wickersham, Kennett Square, Pa.
-V.94, p. 831: V. 95. p. 177.

KEOKUK, IA.
CENTRAL MISSISSIPPI VALLEY ELECTRIC PROPERTIES.
ORGANIZATION.
-Formed in Illinois by a trust agreement dated
Dec. 12 1913, under which there are deposited with trustees all the common
stock of the Keokuk Electric Co. (see below) and all the capital stocks of
Fort Madison Elec. Co. and Dallas City Light Co. These companies do
the entire electric railway, electric lighting, power and gas business in
Keokuk. La . the entire electric lighting and power business in Fort
Madison. Ia., and Dallas City. Ill., the entire electric railway and
lighting business In Hamilton and Warsaw, Ill., and operate an Interurban electric railway between Keokuk. Hamilton and Warsaw (largely
on leased lines).
Franchises.
-The electric railway and elec. lighting franchlees in Keokuk
expire in 1936, the gas franchise in 1928. The electric lighting franchise
In Hamilton expires in 1936; the important railway franchise In 1931.
The electric lighting franchises in Fort Madison and Dallas City expire
in 1938.
Stock, auth. and outstanding: Common. 7.500 shares (no par value)
6% cum. pref. stock (par $100
-red. at 110). 3750.000. No bonds.
EARNINGS.
-For years ending Dec. 31 (combined companies):
YearGross. Net,aft.Taxes. Int.. &c. Sink.Fund. Surplus.
1921
3521.020
$134.416
343.990
x$x9s08:256436
1920
490.984
122.817
34.182
x $44.118 of the earnings of 1921 and $52,466 of the earnings of 1920 are
from Keokuk Electric Co.. and are subject to 6% div. for current year on
$250.000 pref. stock of Keokuk Electric Co.
Dividends.
-An initial dividend of 1 A % was paid on the pref. stock in
Mar. 1914: same rate quar. to and incl. Sept. 1917. In 1922, Mar., 13.4 %.
Sept., 13.4%.
ROAD.
-Miles of equivalent single track, 7.99; trackage, 6.14; standard
guage: cars. 16 passenger and 1 other. All power is purchased from the
Mississippi River Power Co.
OFFICERS.-Pres., Geo. Higginson, Jr.; V.-P. Harry T. Edgar: Sec.,
Joseph L. Valentine Chicago 111.; Treas. N. B. Sawyer, Amt. Sec., Victor
'
D. Vickery. Germ. Mgrs.. Stone & Webster Mgt. Assn.
-V.98. p. 72. 610.
(1) Keokuk Electric Co.
ORGANIZATION.-Incorp. in III. on Dec. 5 1911 as successor to the
Keokuk Elec. R. & Pow. Co.; Keokuk Gas & Elec. Co.; Hamilton Lt.
& Power Co. and Keokuk & Western Elec Co.. control of which was
purchased in 1911 by Stone & Webster Mgt. Assn. Does the entire electric
railway, electric lighting, power and gas business in Keokuk. Ia.: the entire
electric railway and electric lighting business in Hamilton and Warsaw, III.,
and operates an interurban electric railway between Keokuk. Hamilton and
Warsaw (largely on leased lines).
Franchises.-See Cent. Miss. Valley Elec. Properties above vm.almt
o
.
STOCK AND BONDS- Date.
Interest. Outsit71in g.
st 5 0 o N
o
Common $650,000 ($100)--Pref $250,000 4100)67 cum_
250.000
See text
Keokuk El By & Pow ist M1 1900
5 J-J
137.000
See text
$250,000 (closed mtge)..ntt 10ent. Trust Co. and H E. Ambler, Trustees.
First & Ref Mtge $400,000) 1918
6 a J-J 15
388,000 Jan 15 1923
($100. $500 and $1.000)_4 Int at First Tr & S. Bk.. Chicago. trustee.
-Common stock is all owned by Cent. Miss Vail. Elec. Properties.
Stock.
Pref. stock in red. at 110. Both classes of stock are non-taxable In Illinois.
Bonds.
-The Keokuk Elec. Ry. & Power first mtge. 5s are due serially
1920 to 1925. Red any Int, day at 105 and int. 3113.000 canceled. The
5-yr. let & Ref. bonds were issued to pay off $150.000 Keokuk Gas Lt. &
Coke 1st M 5s due Jan. 15 1918. $18,000 are reserved to retire underlying bonds. Are red. as a whole on any int. date at 102 and int. Emile
K. Boiset of Chicago Is also trustee.
-Dive, on pref. have been paid since organization. Initial
Dividends.
liv.on com.-2%-paid In Feb. 1914; May I %: Aug 2% (V.A9.P.467).
Nov. 2%. in 1915 and 1916. 6%. In 1917. 5%. None since,
EARNINGS.
-For years ending Juno 30:
VenrGross.
Newtft. Tot.) Int &c. Sink.Fund. Surplus.
.
$13.739
1921-22
14914.907
S381.173
38.361
1920-21
81.253
3 aI,107
ROAD. &c.-See Central Miss. Valley Electric Properties above.
-P., David D kly; See., Victor
OFFICERS.-Pres.. Harry T. Edgar; V.
D. Vickery; Treas., Henry D. Sawyer:(len. Mgrs., Stone & Webster Mgt.
Assn.
-V. 97, P. 1583, 1898; V. 98. p. 73: V. 99. p. 467: Y. 106. p. 390.

KEWANEE, ILL.
GALESBURG & KEWANEE ELECTRIC RY.
OROANIZATION.-Incorporated May 1902. Is a re m•salization of
the Galesburg & Oneida Elec. By Co.
Effective July 1 1918, was auth. by the 111. P. U. Comm. t, Inerease fares
from 5 cents cash fare and 25 ticket.. for $1 to 6 cents easlefa; eed 18 tickets
for $1 on city lines. In Aug. 1919 was auth by the ill F
Comm. to
increase fares in Kewanee and Weatiaerf d from 6 to 7 celt ticket fares.
f

OCT., 1922.]

ELECTRIC RAILWAYS

65

P. U.
KNOXVILLE, TENN.
being raised from 18 for $1 to 4 for 25 cents. On May 28 1920 the Ill. and
cash
Comm. auth. the co. to raise the fares in these two cities to 8 cents auth. by
KNOXVILLE RAILWAY & LIGHT CO.
V. 110. p. 2657. In Jan. 1921 was
to sell 5 tickets for 35 cents.
on Kewanee city
Controlled by American Cities Co.(see under New Orleans), which owns
the Illinois P. U. Comm. to charge a 10-cent cash fare
July 1921 was
V. 112,
lines and to sell 3 tickets for 25 cents. Kewanee p. 469. In Ill., to 4 cents all the stock. n
and Galva.
-See under "American Cities Co." on a subsequent
between
Reorganizatio Plan.
auth. to raise passenger fares
page and V. 114, p. 79.
RA:lathe V. 113. p. 292.
Maturity
Ontstanding.
Interest.
-Incorporated in Tennessee on Aug.5 1905 as a conORGANIZATION.
STOOK AND BONDS- Date.
$210100.080000
solidation of the Knoxville Traction Co. and the Knoxville Electric Light &
Common $200,000 ($100)Power Co. Does all the street railway and all municipal and comraercial
cum
Pref $400,000 3100)6%
400.000 July 2 1926 electric-lighting and power business in Knoxville and serves vateous nearby
5 g J-J
First mtge $400.000 ($500 &( 1906 &r.
,Tr. communities. Also owns two amusement parks. Franchises are perpetual,
f Int.atCont.& Com.Tr.& Say.Bk
c
$1.000) gold
at par and int. No a. f.
except as to 154 miles of street railway, which latter run until Nov.28 1946.
-Are red. on any int, day
Bonds.
Has favorable long-term contract with Tennessee Power (Jo. for the purmos. ending Dec. 31:
--For 12
EARNINGS.
Deficit. chase of electric power.
Deprec'n. Int. &Taxes.
Net.
Gross.
YearThe $100.000 6% debentures. due Jan. 1 1919, were retired at maturity,
$36,136
$28,077
$12,000
$20,060
33i 911
1921
19,023 the company obtaining a bank loan. This loan had not yet been taken up
27,272
12.000
20.294
114.981
1920
as of Oct. 1 1921.
-Has city line in Kewanee and Wethersfield and interurban
ROAD.
-In May 1920 the Tenn. P. U. Comm. denied the co an increase
miles. 70-80-1b. In Fares.
-cent transfer charge. V. 110, p. 2387.
fare from 5 to 7 cents and a 2
between Kewanee and Galva. Total track operated 14
and girder rails. Gauge 4 ft. 854 in.
Effective July 3 1921, the Comm. auth. the co to charge a 6-cont fare.
T
-P.. F. M. Lay; Sec., W. P. V. 113. p. 292.
OFFICERS.-Pree., W. H. Lyman; V.
-V.113, p. 292.
-For details of valuation filed with the P. U. Comm. in
Valuation.
Lamb; Treas., J. H. Baethke: Gen. Mgr • R. H. Hayward.
Jan. 1921 see V. 112, p. 258.
In Feb. 1922 the Tenn. P. U. Comm. auth. the co. to Issue $195.000
KEYPORT, N. J.
bonds, the proceeds to be used for impts. V. 114, p. 627. 1063.
Interest. Outstanatng. Maturity.
-Trolley.
STOCK AND BONDS- Date.
JERSEY CENTRAL TRAC elON CO.
See text
$2.050.000
J-D
--The American Railways Co.. which see under Philadelphia. Pa.. itock $2,050,000 3100)
Control.
3,291,000 June 1 1940
5 J-D
Ref & ext mtge $10.000,56(5 iiiii
stock.
owns all the common
N. Y., Trustee.
($500 and $1.000)_- -c•cpt Int. at Guaranty Trust
Co..
792.000 April 1 1938
OROANIZATION.-A consolidation in May 1917 of the old Jersey
5 g A-0
Knoxville Trac 1st M $850.- 1898
the
Central Traction Co. (see "Electric Fly." Sec. for May 1917) and and
000 g tax-free ($1.000)__c• Int. at Baltimore Trust Co., Bait.. Trustee.
Central Jersey Traction Co. (incorp. Feb. 1 1917 to lease the property the
-Of the ref. & ext. mtge. $792,000 are reserved for Knoxville
Bonds.
franchises of the Jersey Central Traction Co.). At the same time was
erection 1st fis and $5,856.000 are reserved for 80% of cost of extents..
Middlesex & Monmouth Electric Light, Heat & Power Co.. which
tdd'ns, Impts. &c., under conservative restrictions. Bonds are red as a
controlled by the Traction Co. through ownership of 442 of the 500 shares
'
yhole, but not in part, at 105 and int. on 60 days' notice, or may be puref capital stock, was merged with and into the Monmouth Lighting Co.
net not less than 4)-%. Annual sinke:lased in open market at a
whose entire $3n5.000 out•tanding common stock is owned by the Americar ing fund began Oct. 11915, price to 54 of 1% of total amount of bonds out.
equal to ,
Co. The Lighting Co. purchased the power house, transmission
Railways
1115.000 in sink. fund Oct. 1 1921. Penn. State tax refunded. The Knoxby the Traction Co. and
lines and substations form3rly owned and operated
ville Traction Co. first mortgage bonds are not subject to call. $58,00C
sells power to the latter under contract.
Fare Increa4e.-lu Sept. 1918 the N. J. P. U. Comm. auth. the co. to Piave been canceled.
In Dec. 191S
-2%-June 29 1907, 1% was
Dividends.-First dividend on common
charge 6 cents in the former 5-cent zones. V. 107, p. 1004.
the co. was auth. by the N. J. P. U. Comm. to charge 7 cents instead of Jaid Sept. 1907 and, 1% Dec. 1907; in 1908. 4%;in 1909. 7%;in 1910. 8%;
1920 the Comm turned down In 1911. 10%. Then stock all made one class and in June 1912 paid 354 %:
6 cents per zone. V. 107. p.2290. In July
In
Stock all owned by Amen.
Dec.. 3 q %. In 1913, 754%. In 1914, 49'
the co.'s application for aunt. to raise rates to 10 cents. V. 111 p. 188.
112.
.
an Cities Co and dividends no longer made public.
May 1921 the Suprime Court upheld this decision. V. U. p. 2083.
Comm. to
the N. J. P.
Interest. Surplusfar
Net (after
Effective June 1 1e12 the co. was auth. by
Gross
EARNINGS.Renew.. etc.
&c.
Taxes).
Increase cash fares from 7 to 10 cents in each of the 7 zones: these rates to
Earnings.
'at. Year5341,294
5297.009
5588.303
continue for an experimental period of 6 months. V. 119, p. 1890.
51.685,268
1920
263.389
252.622
516,011
Interest. Outstanding. Maturity. 1919
1.396.099
BONDS- Date.
STOCK AND
$531.400
247,993
249.718
497,711
1.223.305
1918
Common $5,000,000 31001_
600.000
6%
Pref 6% cum 3600.000 ($100). ----On Oct. 1 1920 owned 54.721 m. of track, incl. 13.761 miles
ROAD.
800.000 Mar 1 1947
1917
girder rail. Has 27
5 g M-S
First mtge gold $5,000,0001
if double track; standard gauge; 70-lb. and over T and
(Int. at Coral Trust Co.. Phila.. trustee
($1,000)
specs cars. 95 closed and 10 work cars; total. 121. Power station (held in
years after issue.
Stock.-Preferred stock is redeemable at 105 threeRys. Co. Callable in reserve) has 6.800 k. w. capacity.
& 1.. by the American
-Guaranteed. p.
Bonds.
-P., W.S. Shields;
bonds may be
OFF1ClERS.-Pres. & Gen. Men'., C. H. Harvey; V.
whole or part since March 1 1922 at 10234. Additional
-V. 108, p. 78; V. 110.
Sec. & Treas., C. J. Morning: Aud., C. A. Briggs.
Issued for additions, extensions, &c.
p. 2387; V. 112, p. 258: V. 113, p. 292: V. 114. p. 79, 627, 1063.
-For calendar year 1921, gross, $311,695; net, after taxes.
REPORT.
def., $24.298; int., &c.. $61.828; deficit, $86,126.
-Owns and operates 39.03 miles of road from South Amboy,
ROAD.
KOKOMO, IND.
tt
Keyport and Belford to Red Bank; Belford through Atlantic Highlands
INDIANA RAILWAYS & LIGHT CO.
Highland Beach; Freneau through Matawan to Keyport, N. J. Standar,
-lb. T and 70-1b. girder rails. Nearly all over private right of way
gauge 60
ORGANIZATION.--Incorp. In Indiana on Dec. 7 1912 as a coneolida1
don of the Kokomo Marion & Western Trac. Co.. Kokomo Frankfort es
32 passenger cars, 29 freight cars andandsnow-plow. An extension from
over the Raritan River Bridge
Western Traction Co. and Kokomo Public Utility Co. Acquired the GalSouth Amboy through Mechanicsville
veston Light & Power (3o. as of May 31 1916 and Netted $10,000 prof. stock
to Perth Amboy was completed in 1910.
& Power CO.
OFFICERS.-Pres., Van Horn Ely; V.-Pres., C. L. S. Tingley; Can. to pay for same In Feb. 1917 purchased the Converse Light pay for same
& Treas., Walter W. Perkins; Asst, Ind issued $100.000 1st M. bonds and $55.000 pref. stock to
Mgr. & V.-Pres., II. J. Crowley; Sec.
-V. 107. P. 2290; V. 111, tnd for extensive additions and impts. to equipment In the power plant
Sec., Asst. Treas. & Comp., Frank J. Pryor, Jr.
At Kokomo. Carries 00 an interurban and street railway business and
p. 188. 1083; V. 112, p. 2083; V. 11.1, p. 1890.
furnishes electric light and power in Kokomo and 22 smaller towns and
villages: also steam heat In Kokomo. All franchises held by the co. were
KEY WEST, FLA.
turrendered in 1917. Is now operating under indeterminate permit of
the Ind. P. S. Comm.
-A trolley road.
WEST ELECTRIC CO.
KEY
Rates and Fares.
-In 1913 was auth. to increase all local and intra-State
ORGANIZATION.-incorporated in New Jersey in 1898 and does entire
tariffs. Compare V. 106, P. 1901. In 1920
express and
electric railway and electric-light and power business of the city; also OWIo freight,and express passenger increased in the same ratio as .balance of
freight
rates were
franchises for manufacture of gas. Franchise expires 1997. In June 190(
30% surcharge on heating
acquired by Stone & Webster of Boston and re-capitalized as below. Indiana roads. Has also been auth. to collect a bills. In Nov. 1919 power
was
hills and 54 cent per k.w.h. surcharge on power
V. 82, p. 1496. Public Service Investment Co. owns $374,100 commoi
g rates were still further increased. ID
rates and 10 Aug. 1920 steam-heatin
stock and $287.800 preferred stock.
-cent
Feb. 1920 was with. by the Ind. P. S. Comm. to install a straight 5
Interest. Outstanding. Maturity
STOCK AND BONDS- Date.
fare and to discontinue the sale of 6 tickets for 25 cents. V. 110. P. 561.
$500000
Common $500.000 ($100)
In Aug. 1920 the co. was auth. to charge a straight fare of 3 cents per mile
-M
cum_ ____
Q
350.000
Pref $350,000 ($100) 6%
V. Ill. p. 792.
5 g F-A
442.000 Aug 1 195P for interurban passenger service.
First mortgage $1.000.0001 1906
-In Nov. 1921 the Ind. P. U. Comm. placed a valuation of
Valuation.
tf(Int. at State Street Trust Co.. Boston. Tr
gold
for rate-making purposes on the co.'s property (excl. $172.5135
$4,346.653
Pref. Stock.-Redeemable at 110.
V. 115. p. 1210.)
-Are subj. to call as a whole or in part for s. f. at 105 and int. an of non-utility property owned). V. 113, p.2185. (See also
Bends.
-In 1922 it was proposed to merge seven utility properProposed Merger.
any time. A sink fund of 1% of bonds out began Dec. 1 1907. If earned
ties, incl. that of the co., Into the Indiana Electric Corp. Protests have
on Dec. 1 1912 became obligatory. $83.000 in treasury not incl. in out
V. 114,
standing amount $68.000 canceled.
been filed by certain of the municipalities in which the cos. operate.
re 626. Case was to have come up in Ind. Supreme Court Oct. 1922.
EARNINGS -For years ending June 30:
Interest. Outstanding. Maturitg
Date.
Gross. Net(aft.7'ax.) Interest. Sink. Fund. Surplus.
YearSTOOK AND BONDS32,000.000 Aug '22. 1%
$26,958
Q-F
$16.391 oommon 12.000.000 ($100)__
$73.318
$219.514
1921-22
492,800 Sont'22,
22,828
61,782 Pref cum $1.000,000 (15100)_- _--84,610
6 Q-M
268,112
1920-21
1.259.000 Jan 1 1943
5 g J-J
-Operates 5.41 miles of track; 10 cars. Gauge 6 ft. 254 in, let & ref M sk fd 55.000.0001 1912 Trust Co. of Indianapolis. Trustee.
ROAD.
($500 and $1.000) g c• if(Union
1.170 k.w.
Power station capacity.
100,000 See text
8%
1921
-P, C. F. W. Wetterer; Coll trust notes $250,000) 191Int0.35gjAmer. Nat. Bk., Ind's.,trus.
jOFFICERS.-Pres., Harry II. Hunt. Boston; V.
at Fletcher
($500 & $1,000).
622,000 July 1 1933
Sec., Victor D. Vickery; Treas., Henry B. Sawyer; Mgr., Bascom L. Grooms Kok Mar & W 1st M $1.000
c:1
Key West, Fla.; Gen. Mgrs., Stone & Webster Mgt. Assn., Boston.
000 g 3500 & $1,0001c5ntffInterest at Security Tr. Co., Ind., Trustee.
V. 82. p. 1496; V. 94, p. 1508.
Stock.-Preferred stock is non-voting. In addition to the amount reported outstanding $22,200 is held in treasury. Subject to call at 105.
-Of the 1st & ref. bands,$650,000 are reserved to retire the K. M.
Bonds.
KINGSTON, N. Y.
& W. bands, $500.000 are pledged as coll, for the 8% coll. trust notes and
KINGSTON CONSOLIDATED RR.
32,596.000 are fot aderns, betterments, &c., under certain restrictions. Red.
lieu of retirement
ORGANIZATION.-This Is a consolidation on Dec.111901 nf the Kings- on any int. date at 105. Sk. fd. 19' began Jan. 11017. Infor perm. add'ns.
of bonds. company may at its option set aside annually
City RR. and the Colonial City Traction.
ton
was auth. by the N. Y. P. S. Comm. to impts. & extensions, at not exceeding 80% of cost thereof, a sum equivalent
-In Jan. 1921
Fare Increase.
4 tickets for 25 cents. to 1 % of total amount of refund, bonds out. Int. payable at Spencer
increase cash fares from 6 cents to 7 cents, with
Trask & Co., N. Y. V. 95, p. 1684. K. M.& W. 1st M. bonds are subject
V. 112. p. 372.
Interest. Outstanding. Maturity. to call at 105 and int. $28,000 held in treasury. See V. 76, P. 1143;
STOCK AND BONDS- Date.
$200.000
V. 77, p. 451.
Common $200,000 ($100)
200,000 Apr '22, 3%
-The $250,000 coll. 89' notes are secured by deposit of 3500.000
Notes.
Preferred 4% cum $200.000
532.000 Oct 9 1951 1st & ref. 5s as of Dec. 311921. $93,000 of the notes were held in treasury
5 g J-J
consolidated mortgage 1901
First
July 1
at Bankers Trust Co.. N. Y., Trustee
unsold. Notes mature $25,000 July 1 1923 and 550,000 each on any
$700,000 ($1,000) gold elf lInt.
July 1 1928. Red.
None Jan 1 1939
5 J-J
Second mortgage $250,000 1909 Bankers Trust Co., N. Y., Trustee, thereafter to and incl. July 1 1927 and $25.000thereafter at 110 and int.
lint, at
int. date prior to July 1 1925 at 105 and int($1.000)
-6% is being paid on the pref. stock. On common. 1% s.-a •
Kingston City RR.Dividends.
102.51)0 Mar 1 1923
2%;
5 M-S
Oonsol $150.000 ($1.000) notl 1893 Farmers' Loan & Trust Co.. N. Y
to Aug. 1915. when 1)4% was paid. In Feb. 1916. 154%; Aug..
at
Nov., 1%. In 1917, 4%. In 1918. 24%. In 1919. 4%. In 1920,
subj to call before mat'y_tf lint.
3.530 On demand
5 quer.
on car barn_
In 1921, 4%. In 1922, Feb., 154%; MaY, 1%; Aug., 1%.
Mortgage
5%,
Is reserved to
9
-$156.00 of the $700,000 consolidated mortgagebeen canceled re
Bonds.
-Years ending Dec. 31:
EARNINGS.
liens: $12,000 have
1919.
1920.
tire the Kingston City RR, underlying pref. stock from consolidation up to
12:40
-4% was paid yearly on
3867 239
8
Dividends.
1921.
51.058.940 $1,088.916
Gross earnings
None to Jan. 11911. when 4% was paid
$381.950
$416.744
3471,516
1908. when 2% was paid Aug. 1.3% was paid. In 1915, Antal, 3%; Au
earnings
Net
17.629
15,193
up to Sept. )1014. when
None
Tn 1917. April, 3%; Aug., 3%. In 1921, Other income
352,290
259.826
377.002
8%, In 1916 Anne., 3^1,Int., taxes, deprec'n, pref. divs., &c_
Nev., 3%. In 1922, April, 3%.
-lb. 40 cars,
$82.083
$134,532
$109,707
-Embraces 8 miles of track. Rails, 70. 80 and 90
Balance, surplus
ROAD.
-Operates 53 miles of interurban electric railroad from Marion
ROAD.
2 snow plows.
Kokomo to Frankfort and 9 miles of street railway in Kokomo.
-FO years ending Dec. 31: Taxes.
REPORT.
Balance. through
Interest.
Net.
Gross.
connecting link between the Terre Haute Ind. & East. Trac. Co. and the
Is
Cal. Year$11.464
$71,224
Traction Co. of Indiana. Standard gauge. 70-1b. T rail. On Dec.
5)37,722
1921
def.$3.038 Union had 11.479 light and power and 191 heat consumers.
39,588
11,511
48,061
224.647
35,893
def.1,090 31 1921
1920
10.527
43,330
-P., L. J Kirkpatrick; Treas.
191.359
OFFICERS.-Pres.. Geo. J. Marott: V.
Mass.: V.P. Hen-y C.
1919
OFFICERS.-Pres., Fred. T. Ley. Springfield, neston• Treas. ehm. A. R. Holliday; Sec., L. B. Hexigin; Aud. & Asst. Sec., Karl A. George
• Sec., G. B. te Bow, Kt
-V.114, P. 626; V. 115,P. 1210'
Gen. Mgr. & Asst. Treas., P. H.Palmer.
Page, Worcester. Maas
-V..90, p. 303; V. 108. p. 2528: V. 1 ) $.372.
Hasbrouck, New York.




66

ELECTRIC RAILWAYS

LACONIA, N. H.
LACONIA STREET RAILWAY.

[VOL. 115.

Jan. 11937; X of 1% from Jan. 1 1937 to Jan. 11942,
and 1% each year
thereafter to maturity. Are red. all or part
days' notice on any int.
date on and after Jan. 1 1932, at 110 duringon 30year and
that
at
cal. year during each year to and incl. 1937, and at 104M on 1% less per
and
less per cal. year during each year thereafter, and on Jan. 1 19d8.
July! 1945.
at 100, plus int. in each case. Tax refund in Penna.. Mass.
and Conn.
V. 114, p. 412.
Dividends.
-Initial div. on pref, stock of 1%% paid Sept. 1
1914; same
rate quer. since to and incl. Sept. 1922.
EARNINGS.Gross
Net (after
Bond
Preferred Balance.
Year Endin,i, Earnings. Taxes. &c.) Interest. Dividends. Surplus.
May 31 1918
31.785.242 3867,318 3316.681 3350.000 3200.637
Dec. 31 1917
1.712.220
896.480
298.882
291.200 306,418
Dec. 31 1916
1.277,090
681.531
242.801
162,354
276,37$
LATEST EARNINGS.
-For cal. year 1921, gross. 22.908,196; net,
after taxes, &c., $1.254,167. In 1920,
; in 1919, gross,
22,181,686. In 1918, gross, $1.829,711.
ROAD, PROPERTY. &C.
-Owns and operates 25 miles of electricrailway, Incl. Interurban line on private right-of-w
ay between Eau Claire
and Chippewa Falls and local lines in those cities. Present
company's hydro-electric and steam plants approxima rated capacity of
tes
Ultimate development. 150.000 Is. p Owns over 400 miles 70.000 h. p.
of
transmission lines. Also owns and operates gas properties high-teneloa
LA CROSS, WIS.
in La Crosse.
comprising 55 Ye miles of mains.
WISCONSIN RAILWAY. LIGHT & POWER CO.
OFFICE RS.-Pres., Jos. H. Brewer; V.
-P., W. B. Parsons; V.
-P. &
ORGANIZATION.-Incorp. In Wisconsin on Jan. '
Gen. Mgr..
1913 and has ac- Sec.-Treas., P. D. Kline; Treas., C. A. Boait: Sec., Blaine Gavett: Asst.
quired and now owns in fee all the property formerly belonging
W.
-V. 110, p. 369; V. 112, p. 471, 1145, 1618:
to the La V. 113, p. 1574, J. Ripley.
Crosse Water Power Co.. the La Crosse City Ry. and the
1889; V. 114, p. 412, 1536, 2719; V. 115. p. 870.
Winona (Minn.)
Ry. & Lt. Co. Does electric-light and power business in Wit.,
na. Minn..
and Onalaska. Wis., and operates street railways in Winona
and La Crosse
Owns hydro-electric plant at Hatfield. Wis., with transmissi
Crosse and Winona. at which cities it also has steam reserveon lines to La
LAKE CHARLES, LA.
plants.
Fare Decision.
-On June 25 1919 the Wisconsin State Supreme Court,
LAKE CHARLES RAILWAY. LIGHT & WATER
ruling against the city of La Crosse, held that an emergency
WORKS CO.
existed when
the RR.Comm.auth. the co. to increase its fares from 5 toIl
ORGANIZ
-Incorporated in Louisiana in 1909. In June
cents. V 109. the company ATION.
1909
p. 73. In Feb. 1921 the Comm. auth. the co. to raise fares
acquired the Lake Charles Street thy. Co., operating an
in La Crosse railway in Lake
electric
from 5 cents to 7 cents. V. 112. p. 746.
Charles and Lake Charles Ice, Light & Water Works
Co-,
which operates an ice plant, electric-light and power
department and
STOCK AND BONDS- Date.
Interest. Outsteinding. Maturity. water system.
Common $1,230.000
Franchises expire; street-railway, 1941; electric light and
31.219,900
power, 1926;
First & ref M $10.000.000 1913
water-works. 1921. self-renewing every 5 years thereafter unless
5 F-A
2,225,000 Feb
city buys
($1,000) gold
c*tf First Trust Co., Milw., Trustee. 1 1933 plant.
La Crosse City Ry 1st M 1909
Fares.
-On Oct. 22 1918 Judge Overton at Lake Charles, La.,
5 g J-J
220.000 July 1 1929
issued a
(closed mtge) ($1,000)___c Int. at Wisconsin Tr. Co.. Milw.,
preliminary injunction to the city of Lake Charles, La., restraining
Trustee
the
company from collecting a 7-cent fare. V. 107. D. 1747.
Bonds.
-The mtge. provides that 32.225.000 may be
Issued at
par for corporate purposes of the company. 325.000
of the amount reSTOCK AND BONDS- Date.
Interest. Outstanding. Maturity.
ported as outstanding are held in treasury. Bonds
in
$2,225.000 may be issued as follows: $220.000 to retire addition to the Stock 3200,00(1 _
3200.000
La
bonds and 575.000 to retire a like amount of bonds which may Crosse City First mortgage 3500.000 gold! 1909
8 g F-A
45.000
See text,
($500 and $1.000)
certain additional property' remaining bonds are Issuable be issued for
,c*lInter-State Tr.& Bkg. Co., New Oil.. Trus.
at par (a) to
redeem at par any underlying bonds or any mtge.
Bonds.- Remaining
are for improvements and extensions on basis
any property acquired, not exceeding, however, atdebt existing against 01 31 in bonds for each bonds of improveme
Si 33
par, the reasonable
nts. &c. Bonds matured
value of such property; and (b) for not exceeding
semi-ann. from Aug. 1 1912 to Feb 1 1922, both incl.; redeemabl $15.000
e on any
tional property, with certain restrictions. Bonds75% of cost of any addi- int. day on 30 days' notice. Int. Is payable at
red. on any int, date at
office of trustee or at Chicago
105 and int. Sinking fund. 2% per annum, began in
1918. Int. payable gayings Bank & Trust Co.. Chicago 3215.000 has been retired.
at office of trustee, or at office of company or at its
New York agency
EARNINGS.
-For calendar year 1921, gross, 2359,139; net,
EARNINGS.
-For years ending Dec. 31:
$34.259. In 1920. gross, $412,111; net, after taxes, $105,425.after tame.
Bal.,for
12 MonthsGross. Net, after Taxes.
Interest. Deprec., etc.
BOA D.
-Consists of 9 miles of track. 60-1b. rails.
1921
2751.557
$261.874
3149.881
3111.903
OFFICERS.-Pres..J. A. Landry; Sec.,P.O.Moss.
1920
696.140
167,835
-V.107, D. 1747
143,161
24,674
ROAD.
-24 miles of track.
OFFICERS.-Pres.. Clement C. Smith; V.
-P. & Gen. Mgr., J. P.
Pulliam; V.
-P., R. M. Howard; Sec., Howard Greene; Treas.,
H. C.
LANCASTER, PA.
Mackay; Asst. Sec. Wm. M. Chester; Asst. Treas..
S. M.
Operations are directed from President's office in Milwaukee Rothermel
LANCASTER COUNTY RAILWAY & LIGHT.
in connection
with operations of the Wisconsin Public Service Co.and
Controlled by The United Gas & Elec. Corp.
other public utility
-See under New York.
properties.
-V.99, p. 1830; V. 109. p. 73; V. 111, p. 1754; V.
112, p. 746.
ORGANIZATION -Incorporated on June 15 1901
in New
and controls the following railway. gas and electric properties Jersey. Owns
, whose stocks
are placed under the mortgage or 1901:
WISCONSIN MINNESOTA LIGHT & POWER CO.
Common stock all owned and properties managed by
Conestoga Traction Co.,
1Edison Electric Co.
American Public Lane. Gas Light Sr Fuel Co.
Utilities Co.
Also controls the Lancaster Elec. Lt. Ht. & Pow.
Co. The Lancaster
ORGANIZATION.-Incorp. In Wisconsin. Dec. 2 1901
as the La Crosse Gas Lt. & Fuel Co. controls the Columbia Gas Co.
Gas & Elec. Co.(successor to the La Crosse Gas Light
Franchises are perpetual. Does all the gas and
Co., the LaCrosse
electric lighting in cities
Brush El. Lt. & Pow. Co. and the Edison Lt. & Pow.
of Lancaster and Columbia. and practically all
in Lancaster county
1914 changed name to Wisconsin Minnesota Light & Co.) On June 24
In Dec. 1917 increased with. capital stock from
32.500,000 (of
creased its auth. stock from 3900.000 to 510.000.00Power Co. and In- $l,0'8).0005% cum pref.) to
0 and merged the
$3 750.000 (of which $1.750.000 5% cum which
Chippewa Valley Ry. Lt. & Power Co. (incorp. In Wis. In
.pref.)
Fares.
-On Aug. 2
Chippewa Valley Construction Co In 1914 acquired the 1898) and the from 5 to 6 cents, and 1918 the Conestoga Traction Co. increased its fares
on Jan. 17 1919 this increase was held by the
property of the
Winona Gas Light & Coke Co., Red Wing Gas Light &
Penna.
P. S. Comm to he reasonable. See also V. 109.
Power Co.. Minnesota-Wisconsin Power Co.. Eau Claire Gas Light Co. and
The $225.000 West End St. Ry. 55 due May 1 p. 371.
1921 were paid off at
erIc Co. V. 99, p. 1758. In July 1917 _teurchased the Neillsville thee- maturity, the Conestoga
Bloomer (Wis.) Elec. Light & Power Co. V. 105, p. 296. property of the in connection therewith.Traction Co. Issuing $360,100 1st Mtge.4% bonds
lawns
V. 112, p. 2414.
ates electric light and power. street and interurban railway, gas,and operwater, and hot water heating properties in Eau Claire. La Crosse, domestic
STOOK AND BONDS- Date.
Interest. Outstanling.
Maturity
Menominee, Sparta, Tomah and Viroqua. Wis.. and Winona Chippewa Stock, corn., 100,000 shares_
Wabasha.
Q-M
64,710 shs. See text.
Lake City, Twin Cities and Red Wing, Minn. Operates under an
cum
indeter- Pref.$1.218 100 5(9%,
1.218.100 Sept'22. 1 ej
Q-M
minate permit granted by the Wisconsin RR. Comm. and is
Mtge 31,000 000 gold (35001 1901
5 g J-J
1,000,000 July 1 1951
against competition by any other public utility doing a similar protected
and $1 (1(1 11
,
r•ntf
lintarest at Lancaster Truer Co Tenet...,
business.
Has contract with Northern States Power Co. to supply it with electric 10-year notes $2,500,000 ($50,1
1922 6 Q-J
1,009,500 July 1 1932
energy for 30 years which began in 1917. In Juno 1922 losseci the property
2100, $500 and $1,000)_
(Int. at Lancaster Trust Co., trustee.
of the Chippewa Power Co. for a period of 30 years. For terms of
lease
see under caption "Chippewa Power Co." in V. 114. p. 2721.
Securities of Lines ControlledA proposal to purchase the co.'s local distribution plant was submitted Oonest Trac 1st M 52,000,000'
-J
1,662,500 an
at an election in Eau ('hire. Wis.. on April 5 1921. and voted down.
(3100, $500&$1,000)_ _c*tf Int. at Prov. Life & Tr.2 0P13.11arr 1 1950
Co..
A
V. 112. Lances Trac 1st M (2100. lot,.). i Iin3
P. 1518. Compare V. 112 p. 1145.
$500 and $1,000)
In 1918 the Wis. RR. Comm auth. increases in gas, electric, water and
et,
93t La
Lancaster Trust Co., Lane., Trustee.
5nAcal
Truste.18a
conestoga Realty Co 1st M 1908
heating rates. In July 1918 street railway fares in Eau Claire
5 M-N____
222.000 May 1 1958
2500,000
Falls were increased to 8 cents and the rate on interurbanand Chippewa
lines was in- Lane G L & sink fund g c__ tf Int. at Lancaster Trust Co., Lane.. Trustee.
F 1st M $300,000
creased to practically 3 cents per mile.
Lancaster5t5j-j300.000 Jan 1 1925
(51,000)
Rate Decision.-So V. 111. n. 870.
i 9a
cot? mt.
Trust Co., Lanc.,
Second mortgage 5400,000
In Jan. 1922 issued 31.930.000 gen. & ref. mtge. 7% bonds sor. "A"
5J-j100,000 Jan Trustee.
($1.000)
to reimburse co. for expenditures made for add'ns and impts. and to provide
t. 6t
Ott ing0a Lancaster Trust Co., Lane., 1 1938
Trustee.
Third rage $100,000 gold
In part for further add'ns and impts. V. 114, p. 412..
100.000 Jan 1 1938
(51.000)
c*tf Int.
91a Lancasterltj-j
Trust Co., Lane., trustee.
STOCK AND BONDS- Date.
Columbia Gas Co 1st mtge 1911
Interest. Outstanding. Maturity.
5 J-J
75.000 Jan 1 1941
Common. 35,000.000 _ _ ____
5200.000 ($1.000)_ _c*tf nt. at Farmers'
32.500.000
Edison Elec Co 1st & ref MI 1913 5 F-A Tr.Co.. Lancaster. Trustee.
Pref. $5.000.000(7% cum.)__
Q-M 1
5.000.000
$
1st & ref M.820.000.000 gold' 1914 5-8 g Mel/ 10 549,000 Sept'22, 13(
tf Lancaster Trust Co..1,862,500 Feb 11918
,
May 1 1944
Lancaster, Trustee.
(3500&$1.000)c*($1.000)rof Int, payable in N. Y. or Chicago.
Edison ElecIlium Co 1st, 1895
5 J-J
M $300,000 ($100. $500i Interest at Lancaster 290.800 July 1 1925
red aft May 1'19@105&int}Harris Trust & Say. Bank. Chicago; Trustee.
Trust Co.. Lancaster.
& $1.000)
Albert W. Harris Co.. Trustee.
c&rtf I Trustee.
Col El L H & P 1st NI gold? 1905
Gen & ref mtge Ser "A' 1 1922
7 g 3-3
1,930,000 Jan 1 1947
5 M-N
125,000 May
3125.000 (21,000)_c&rtflInt. at People's Trust Co., Lancaster, 1 1935
(2100, $500 & $1,000)-c*tffInt. in N. Y. or Chicago.
Trutt.
OhIpp v Ry L & Pow 1st Mt 1907 5 g J-J
506.000 July 11924
Bonds.
-Of Conestoga Trac. 1st M. bonds,
(dosed )e/000.00(1($1.000)g tint. at Harris Tr.& Says. Bk., Chic.. Trustee
used for the reduction of rentals and remainder $112,500 reserved to be
Eau Claire Gas Light Co_
220,500
are reserved to retire prior
liens or are pledged as collateral for bank loans.
Winona Gas Light & Coke Co _
300,000
Of Lane. Gas Lt & Fuel
30-yr M.$300,000 are reserved to retire
Red Wing Gas Light & P. Co_
250.006
3d M. bonds are red. at 105 and int, on 1st M. bonds. Lane. Gas Lt.& Fuel
any int. date on 3 months' notice.
Stock.-Pref. stock is pref. as to assets and dividends. Additional pref. Col. Gas Co. bonds are red.
on any int. date at 105 & int. on 90 days' notice.
stock may be issued only under conservative restrictions. The pref. stock $125.000 reserved for future improveme
nts at 85% of cost thereof. Of
may elect a majority of the directors whenever four consecutive qua-terlY Edison El. Co. 1st and ref. bonds,
dividends remain unpaid or the property is shown to be inefficiently man- bonds; remainder held in treasury $425,000 reserved to retire underlying
aged or depleted. See V 99. P 54: V 106. P. 1797.
85% of cost thereof; red. as a whole, for improvements, extensions, &c., at
but
-Of the 1st & ref. bonds of 1914. 21,111.000 carry, in addition to date; Columbia Elec. Light, Heat & not part, at 105 and int. on any int.
P Bonds.
Power bonds are red. at 110 and int.
the regular 5% int.. additional 3% int. coupons. V. 113. p. 1889. 2506.000 on any int. date. The bonds are guar.
ref. bonds are reserved to retire the Chippewa Valley Ry., Lt. Conestoga Realty Co. bonds are red, by the Lane. County Ry. & Lt. Co.
of the 1st &
at par and int. on any int, date upon
& Pow. bonds. Escrow bonds can be issued to retire prior liens and for 3 months' notice. Sinking
75% of cost of ext. and add'ns (provided 2250.000 is expended for ext., retire bonds at maturity. fund an amount set up monthly sufficient to
&c., without the issue of bonds), but only as regards the first $2.750.000
Dividends.
bonds. in case the annual net earnings are 1 Y.e times (ho total Int. charge, July 1 1904 -The first dividend on the preferred stock (3%) was paid on
incl. bonds applied for; balance may be issued when net is 1, times int. (see V.79. and 3% was again paid on Oct. I 1904. In 1905. Jan., 3%
.4.
P. 2796); Jule, 3%; Dec.,4i4%. In 1908,6Ye%. In 1907, 7%.
charge. V.98, p. 1995. Sinking fund payable on the basis of the following
percentages of the bonds outstanding, including underlying bonds: 1% In 19014 and since, 5%. On common. in 1908 to 1912, incl.. 10%. in 1913.
12%; In 1914. 11%%. In 1915, 1414%: In 1916, 15%* In 1917 17q%:In
yearly to 1928, 114% 1929 to 1938. and 2% 1939 to 1943, either to retire 101s.
!3t.1.:s 191(1 15%; in 19 !O. 15%• in 1021. 15%. In 19, June.
2,
bonds or for extensions and additions.
Additional gon. & ref. mtge. sec. "A" bonds and bonds of other series 97c. per share was paid on corn. shares of no par value; Sept., 97o.
and bearing such rates of int. as may be determined by the board of directors
REPORT.
-For year ending Dec. 31 1921,,earnings (less expenses and
are Issuable under certain restrictions. Sinking fund provides for payments proportion of surplus
of
amounting to Ye of 1% of ser."A" bonds outstanding. from Jan. 1 1927 to div.. $62,405; balance. sub. ens.). 3572.264; bond interest, $50.000: pref.
3459 859.
ORGANIZATION.
-Formerly the Laconia & Lakeport Street Ry.. but
name changed to above in 1894
Early he Sept. 1919 we were informed that the bonds, due May
1 1919,
"were not taken up but are held subject to readjustment of
securities which
Is under way." No further information.
STOOK. &c.Date.
Interest. Outstanding. Maturity.
Common 3100.000 (par $50)$100,000
Pref 5% cum $40,000 ($100)40.000
First mortgage $91.000 ($1.- 1899
5 M-N
91,000 May 1 1919
000)
Interest at American Trust Co.. Boston.
Second mortgage $40.000 1904
5 M-N
40,000 May 1 1919
($1,000)
Interest at People's National Bank, Laconia
Dividends.
-In 1893-94 pa d 5%; in 1894-95 paid 4%; none since.
ROAD.
-Owns 8.87 miles of track from Laconia to Weirs.
Standard
gauge. 11 passenger and 2 other cars.
EARNINGS.
-For years ending Dec. 31:
Calendar YearGross. Net, afterTax. Bd. Int.. &c. Deficit.
1918
328,117
$2,912
$7.194
$4,282
1917
31.373
def.685
7,302
7,987




OcT., 1922.]

ELECTRIC RAILWAYS

67

all accurnulatione. In 1917 •
4%. In 1916,5% and 3% extra. paying up1920, March, 14%; June.
s-Calendar Years.
In
Combined Results of Subsidiary Companie
0
Balance. il7. In 1918, 5%. In 1919, 334%.stock to date); Sept. 14%; Dec..
Net (aft. Tax). Charges.
(?roes,
Year$841.842 2%% (bringing up all arrears on pref. 147 Jun), 134%: Sap.., 134%.
$503,650
$1,345.492
0:
$3.501,769
0:
1921
800.903 147 in 1921. 5%. In 1922, .tlirch. 1916. None to Sept. 1920, when
500,853
1,301,761
of 1% paid in Dec.
19203.511.722
) lease. Initial div. on common
Conestoga T-actien On (the operating sompany rtfles; 1% was paid. In Dec., 1%. In 1921, 4%. None since.
-The
ROAD.
Lancaster & Columbia. 9.16
-For years ending Dec. 31:
133.91 rifles of track, including the
EARNINGS.
Balance.
Bond
& 1VIeshan csburg & Now Holland,
Net
Exp.. Taxes
Gross
Lancastar & L'titz, 9.19 miles: Lancaster & Terre 1111 Street Ry., 4.99 in,; Year ending
for Dies.
Interest.
Earnings.
New Holland Blue Ball
de Rentals.
Dec.
20.80 m les: the
8-8.782
$50000
Mt. Joy By., 13.87 in.: the Lancaster & 1921 31- Earnings.
782
3133,
$ 11 7.021
3115.S00
the Rohrerstown Land sv lie &
8.41 m.: the
892,050
860,000
the Lancaster & Quarryy'lle Ry.,
8152.056
3487.411
Eastern Ry., 17.74 in.; Street ity , 6.40 tn.: the Christiana & Coatesville 1920
$639,497
Florin
Ely.. In
Electric
Elizabethtown &
Street Lampeter & Strasburg By..
-Operates from the terminus of the Stark
ROAD.
Street Ry., 11.01 m.: Lancaster Willow
the Ephrata Salem, Ohio, through the city of Salem to a connection withthe Salem RR.,
Manheim By.. 8.45 m.;
11.23 m.; the Lancaster Petersburg & & Rocky Springs, 4.61 m.; Denver and over the Salem RR,. from Salem through WashIngtonville, Leetenia.
distance of 36 miles.
Ji Adamstown, 7.99 m.; the Lancaster
Holland Turnpike, and the Lancaster Lisbon and West Point to East Liverpool. Ohio, a wn & Southern Fly.,
* Ephrata By.; Lancaster & Now
At Leetonia. 0., connection is made with the Youngsto
gauge, mostly
k Marietta Turnpike.
Owns 29.19 miles of track and leases 6.81 miles. Standard 15 cars.
Leased to Conestoga Traction Co.
es.
Rental(%). Miles
Stock.
70-lb. T rail. Pass. equip., 7 cars: freight, 3 locomotiv
Name of Company20.80
8
-P. & Gen. Mgr., J. D,
00
OFFICERS.-Pres., Chas. S. Thrasher; V. Asst. Treas.. R. F. Miller.
Lancaster Mechanicsburg & New Holland___3300.0
6
13.87
440,000
Bicknell; And. &
Landisville & Mt. Joy
Rohrerstown Land
O.;
7.99 Dewees: Sec. & Treas.. Warren
6
225.000
Bicknell Co. General office, Leetonia, 107.
Ephrata & Adamstown
4.61 Operating Mgrs., Warren
6
200 000
Ave_ Cleveland. 0.-V. 105, p. 2759; V.
Lancaster & Rocky Springs
1 99 executive offices. 5716 Euclid V. 113, p. 419, 629; V. 114. p. 1409.
5
129.000
New Holland Blue Ball & Terre Hill
17 74 p. 1289; V. 112. p. 373, 1145;
6
430,000
Lancaster & Eastern
8.44
6
225,000
Lancaster & Quarryville
6.10
6
LEWISTO WN, PA.
220.000
Elizabethtown & Florin
11.04
6
400 000
LEWISTOWN Sc REEDSVILLE ELECTRIC RY. N.J.(V.98. P. 493.
a & Coatesville
Christian
8.45
6
175.030
Penn Central Light & Power Co. of
Controlled
Lancaster Petersburg & Manhein)
& Power Co.
11.st and operated by the
6
225.0:10
in connection with the Penn Central Light
Lane. Willow St Larnpeter & Strasburg
0.16
bonds are subject to the lien
20
37.500
rsiseastes & rnlumhia
(Penna.). All of the stock and some of the Power Co.
9.19
Lt. &
ef the mortgages of the Penn Central
Lancaster & Lititz Turnpike
6
10,000
March 24 1892.
N
Denver & Ephrata R ,
ORGANIZATION.-Incorporated in Pennsylvania on
Lancaster & Now Holland Turnpike
__
.- Interest. Outstanding. Witurity
:
:::
STOCK AND BONDS- Date.
Lancaster & Mariette Turnpike
-P.'s. Grierge Buttock and F. G. Stock $150 000 ($50)_
:
1 0 00 El-*08 521
81 5000 0' v 1 19
OFF.('Elts.-Pres ‘v %v I irtr.L: V.
J. A. McKenna;
M g (8500 and $1.000)5 1899 6 g J-J
Tr. Co.. Phila.. Tr.
Connette; Treas.. A. L. Linn Jr.; Sec. and Asst. Treas., 106, p. 396 602; let
8150.000 not callable_c&rtf Int. at Merchants Union
125.000 May 1 1949
s., Anna E. Ranck.-V. 105. p. 2543; V.
Asst. Sec.-Trea
Second mortgage $125,000-- f 1902 5%
8
6 mi)0 o rt 1a1, o
V. 109. p. 371; V. 112, p. 2114: V. 114. p. 306.
Commonwealth Tr. Co., 11arrsib ueg,P .9Tr
5 A-0
I 1917
Ref Mtge $500.000
STREET RY.-A trolley road.
Phila., Trustee.
Phila. Trust Co.,
LANCASTER & YORK FURNACE
5% and matured
Pennsylvania as successor
The 1st mtge. bonds originally bore int, at the rate of
ORGANIZATION.-Incerp. May 17 19)6 In
July 22 1901). bought July 1 1919 but were extended for 10 years at 6%. V. 109. p. 1179.
$o old Lancaster & York Furnace Street Ry. (1ncorp.
were extended to
for
Second altge. 5s ortginally fell due May 1 1917. but Central Light & •
rs on Apr 15 1918 for $125, subject to the mortgage
In by the bondholde
Operations, which had been May 1 1949. They are owned or controlled by Penn
8150.000 (V. 101. p. 212; V. 102. p. 1540).
bonds are owned by the Penn.
Power Co. All the outstanding ref. mtge. exts., impts., &c'
dIsmntinued In Jan. 1918, were resumed May 19 1916.
for
Interest. Outstanding. Maturity Central L. & P. Co. They were issuedper annum. None since.
STOCK AND BONDS- Date.
0
Diritiends.-1902 to 1908. Incl.. 57
($50)
Stock 8100,000
) 0
1 50 0 0
$1111 ..0 ° Jan I 1928
12 months ending June 30: Fixed Chgs. Balance.
g J-J
1908
5
-For
EARNINGS.
lit M gold $150,000 (81005
Taxes.
Say. Co.. Lanc..trust. Cal Year
Net.
Gr,ss
8500 & $1,00) _....c&rntflInt. at Northern Tr. &
None
$21.417
$2.335
825,832
3193.650
-Are not subject to call and have no sinking fund. le and York 1921
Bonds.
None
18.615
3.510
14 miles of track between Millersvil
22.151
176.306
1920
-Operates 12
ROAD.
n to Reedsyille and
Furnace. 60-lb. T rail. Gauge 5 ft. 24 In. V.
-Operates 10.55 miles of track from Lewistow
ROAD.
T rail.
Sec.. John H. Myers;
OFFICERS.-Pres.& Treas., E. H. Myers; -P.&p. 212. 2145; V. 102, Lewistown Junction, with a branch to Burnham. 67 and 85-1b.
-V. 92. p. 187; V. 101,
Oen. Mgr., H. M. Stauffer.
Has 21 passenger cars, 2 work and snow cars.
-P., Chas.
J. I Quigley, Lewistown; V.
1540, 1625, 2077.
OFFICERS -Pres. & Mgr..
P. 153. 1249,
Phila.; Asst. Sec., C. A.
Day, Phila.; Sec. & Treas.. John E Zimmermann.
Phila.; Supt., O. E. Gessard
McClure, Phila.; Asst. Treas., W A. Kates,96, p. 487: V.109. p. 1179.
LAUREL, MISS.
V.
-V.88,P. 1128: V. 89, p. 919.
Lewistown.
LAUREL LIGHT & RAILWAY CO.
ORGANIZATION.-Incorp. In Miss. Owns and operates the lighting,
cities of Laurel and Ellisville. Miss.,
power and street railway system in the
the two cities. The lines outLEXINGTON, KY.
and an electric Interurban railway between
-A holding company.
right of way. Franchises
KENTUCKY SECURI HES CORPORATION.
gide the cities and 2 miles in Laurel are on private
1937.
Fr.:111syille to
92. p.
In Laurel extend to Sept 1936: in held July 12Mar. the co. Was granted
ION.
-Incorporated in Virginia on Jan. 23 1911 (V.
ORGANIZAT
1918
-At an election
n Rye. Co. per plan in
Increase.
Fare
322) as successor to the Lexington & Interurba
& Termi-cent fare. V. 107, p. 501.
auth. to charge a 6
V. 92. p. 461. Owns the entire stock of the Kentucky Traction
Date Interest. Outstanding. Maturity. nal Co., Lexington Utilities Co. and Lexington Ice Co.
STOOK AND BONDS0
2.
8475 000
Common stock
Interest. Outstanding. Maturits.
STOCK AND BONDS- Date.
See text.
stock. 6%
82.052.287
Preferred
428.000 July 1 1936 Common 82.500,000 ($100)___
1911
6g
First mortgage $500.000 gold
Co. N Y.. Trustee. Pref 82,500.000 ($100) 8%1
cilf(Int. at Fidelity Trust
See text.
(81,000)
Q-J15 2,271,598
I
cum
_
80.000
Laurel El P & Lt Co mtge. _
stock
raservad to retire under-Both cotn, and pref. are listed on Phila. and Louisville Pref.
Stock.
.
Bond, -Remaining 872.000 1st M. bonds are
.
exchanges. Prof. Is also listed on Cincinnati Stock Exchange of both
lying b nds. Not subject to call.
Years ending Dec. 31
stock is redeemable at par and accum. div. In July 1917 holders on or
rata
1917.
1918.
1919.
1920.
1921.
common and pref. stock were given the right to subscribe pro
Earningsdivs.
8213,222 $204.976 8183,024 8143.719 8124.243 before Aug. 15 1917 for the remaining pref. stock at 824 and accrued pref.
eross
59,619 from July 11917. V. 105, p. 389. As of Ian. 4 1922. $320.380 of the
55.709
63,068
81,070
97.252
Net
atel 94 mites between stock remained unsold and the stockholders voted to sell the stock or
-Comprises tssi miles iu Laurel pleasure park between
ROAD. &c.
The hollers of
a
exchange same for the outstanding pref. div. scrip certifs. for
Laurel and ItIlisville; total. 18 miles. Owns p. 1802; V. 107. p. 501
$169,2806%
pref. and com,stock were given the privilege of subscribing pref. and coin.
Laurel and Ellisyllle.-V. 104, p. 452: V. 105.
hol lin rs of
cum. pref. stock to the amount of 4% of their
right of
stock as of record Feb. 4. at $70 per share. Stockholders exercising of same
LAWRENCE, KANSAS.
subscription were given right to deliver in full or partial payment
outstandi
,
pref. stock diy. scrip ce tfs. at 80% of their face value (allAs of Octng
ELECTRIC POWER CO.
KANSAS
1
1922). V. 114, p. 409.
Kansas
-Organized in 1922 as successor to the April 29 scrip was r: tiled for payment Oct. 2
ORGANIZATION.
unsold.
Supplement of
Electric Utilities Co. (for hi-tory see "Elec. Ry." redemp'ion Oct. 1 1922 1922, 8228.402 remained
for
14%. paid July 15 1913; same rate
Dividends.-Inftial city. on pref..
1922), the 1st Mtge. bends of which were called
Oct. 1916 paid 1 % and 4 of 1% extra
The preporties of the Leavenworth
at 1024 and int. V. 115. p• 1103.Spring; Electric & Mfg. 0). were then quer. to and incl. July 1916; in 1917, 14% and 1% extra. Paying up all
acct. of accumulations. In Jan.
Lt., Ht. & Pow. Co. and the Bonner
stock (except directors' accumulations; April 1917, 14%. and same rate quar. to and incl July
capital
merged with the co. Also owns entire
City Electric Co. and the 1918: none to Oct. 1919, when 1 4% was paid (V. 109. p. 1273i. In 1920,
shares) of Miami Valley Electric Co., Union
Doe; entire electric light and power
%; Oct., I 4%. In April 1920 a scrip
0:
%:.April, 1 47 July.
United Lighting Co. of Albion. Pa. Lawrence, Parson; and It ether com- Jan.,
up all back dividends. V. 110, p. 1528.
business in Leavenworth. Emporia. gas to Leavenworth. Through sub- div. of 67, was also paid, clearing7; Atril, 14%: lily. 14%; Os5., 14%.
In 1921, 6%. In 1922..1in.. 14
supplies
munities in Kansas. Also
power to communities in Indiana, An initial div. of 1% was paid on cam. on Oct. 2 1922.
sidaries furni-hes electric light and
Oa. and
-01' combined properties (Ken. True. & Term.
Pennsylvania and Ohio.
EARNINGS.
V.
Interest. Outstanding. Maturity. Lox. U. Co.)arry
fo sears end. Juno 30 (1922 report in d, 115. p. 1539. 1630):
. 30.
11.
Balance.
STOCK AND BONDS- Date.
Bond
$1.200.000
Other Sink.Fun
Net
Gross
June
Surplus.
Common $3,334,000
1.000.009
Earnings. Earnings. Income. Taxes, At. Interest. 3338.013
7%
Year___Prof 7% $5.000,noo cum ($100) 1922 6 g J-D
3.000.090 June 1 1937 1921-22 ____$1.457,318 8576.771 391.121
00($100,1
lstMser A $25.000.0
Amer. Exch. Nat. Bk., N. Y.. Trus. 1920-21____$1,479,906 8515.440 $82.609 -$390.167- $237,882
8500 & $1.000) g--c*&r*tffint. at
263.033
30 days' notice at 115 and 1919-20_.... 1.330,372
93.741 -381.100550.391
Stock.-Pref. stock is red., all or part, upon
9 in 1919-20.
Passengers carried in 1920-21, 6.531,502, against $6,673,61
Pass
divs. V. 115, p. 1539.
miles of track.
$3,009.000: all other series may only be
-Constituent companies operate 92.59 ice business of
Bonds.-Ser."A" bonds limited to
OPERATIONS.
or fair value of new property,
0
issued for not more than 807 of the cost price of gross operating revenue They do the electric-light and power, gas, street railway and radiating from
8%
additions, &c., under certain restrictions. maintenance or for renewals and Lexington. Also operate city lines In Frankfort and lines
llie. Versailles and from Frrank•
to be expended or set. aside annu illy for
call. Penna. and Conn. Lexington to Georgetown, Parts, Nicholasy
replacements to the properties. Are not subject to
fort to Versailles.
-P., F. W. Bacon; Sec., H. D.
OFFICE 11.4.-Pres.. P. M. Chaniler: V.
4-mill tax refunded.
es for year ending
2614; V.
-Of consolidated cos. and subsidiari
EARNINGS.
13-own Jr ; Trots.. H. Willi Ina; .Tr.-V. 11:3, p. 960, 2591, 2610,
0: net. 8503.319. railway in
1530. 1630.
June 30 1922, gross, 81.512.27
street
Lawrence and 114, p. 409: V. 115, p. 1321, 1123,
-Owns and operates 10 miles of
ROAD.
cars,
60-70-lb. T rail. 30 motor
(1) Kentucky Traction & Terminal Co.
4.8 miles in Emporia; total, 14.8 miles. snow car.
work and
7 trail cars and 1 combination Emanuel, N. Y. City; 1st V.
0RG AN IZATION.-Incorporated in Kentucky on May 181011 as a con-P., Victor
Kentucky
,
OFFICERS.-Pres. Albert
solidation of the Lexington Ry., Bluegrass Trac. Co. and Central Kentucky
V.-P., D. 0. Vaughn Kansas City, Mo.; Secre- Traction Co. V. 92. p. 1136. The entire stock is owned by
Emanuel, N. Y. City; 2t1
Treas., C. B. Zeigler. N. Y. City.
Securities Corp. Franehisos perpetual,
tary, R. F. Rice, Lawrence, Kan.;
-In April 1918 increased cash fares on interurban lines
Fare Increases.
-V. 114, p. 2830; V. 115, p. 1329, 1539.
Lexington were
from 2% cents to 3 cents a mile. Through fares frotn On Sag 161920
increased 5 cents for each one-way ticket. V. 106. p. 1689. minimum rare of
OSIO.
LEETONIA,
rates were raised to :3.6 cents per mile, with a
-A trolley and steam road. passenger
RR.
raise' 15%. V. 111, p. 1083. On Dec. 1
YOUNGSTOWN & 01110 RIVER
7 cents. Freisht rates were on the suburban lines were re Weed from 3.6
passenger service by electricity.
Freight service operated by steam;
1921, however, all cash fares
in Ohio on Dec. 8 1905. In 1908 cents to 3 cents per mile. V. 114. p. 79. Freight rates were cut 25%.
-Incorporated
ORGANIZATION.
Pittsburgh Lisbon & Western RR. Co. effective Feb. 22 1922. In Sept. 1918 the company increased fare on its
leased for 99 years Salem RR from
runs between Salem and Washington ville.
from 5 to 6 cents. Effective Juno 14 1920, fares were raised from
for 88.000 per annum, the former ized and new securities Issued as below. city lines 7 cents. V. 111, p. 294.
7 m. In 1910 road was re-eapItaltime was operated under Federal control, 6 cents to Georgetown & Lexington 1st Mtge. 5s, due Nov. 1 1921, were
8175.000
-The road for a
Federal Control.
railroad, but in Sept. 1919 we were paid off at maturity. V. 113. p. 2311.
being classified as a short line steam
Federal control.
Interest. Outstanding. Maturite.
STOCK AND BONDS- Date.
Informed that the road was out of
Maturity.
82.223,400
___
Interest. Outstanding.
32.500.000(8100).----STOCK AND BONDS- Date.
2.235.000 Feb 1 1951
5 g F-A
$1.000,000 Dec.'21 1% Stock ref mtge $7.500.000 gf 1911
let &
_
Phila..
Stock common$1,000,000
1.000.000 Sapt.'22 13.4%
($1,000) guar p& I__ _cstfltnt. at Commercial Truet Co.. June Trust.
1 1949
Preferred 81.000,0005% co ill• ss
1,038.000
5 g J-I)
1,200.000 Apr 1 1935 Lox Ry first rntge 81.500.0005 1899
5 A-0
First mortgage 82,500.0001 1910 Citizens' Say. & Tr. Co., Cleveland.
_ _esti' int. at Continental Tr.Co., Baltimore. True.
geld (31,000)
c*;Int. at
Y.
201.000 Mar 1 1934
gold ($1,000)
5 g M'S
Trustee, or First National Bank, N. 1913 Blue Grass 1st mtge 8700,000 1904
(
d,
cumulative from Juiy 1
g ($500 and $l.000)..,c&rtf5 Int. at Cleveland Tr. Co., Clevelan True.
Stock and Bonds.-Pref. stock city. is
and int. Remaining bonds
-Of the let & ref. bonds. 81.339.000 are reseryea to retire prior
Bonds.
Bonds subject to call on any int. date at 105
under certain restrictions.
at not exceeding
are reserved for accolisition and extension 1910 and in that year 14% was liens and remainder for extensions. Improvements. &c.,
ns. They are redeemable as a whole
Dividends.-Dividends on pref. began in
3H%; In 1915. 90% of cost under certain restrictio
sid. In 1911. 34%; in 1912. 4H%; in 1913 and 1014,




68

ELECTRIC RAILWAYS

on February 1 1914 or any interest day thereafter,
fund on any interest day after November 1 1921 or in part for si nking
at 105 and in cs rest
Bonds are guaranteed prin. & int. by end. by
Sinktno Fund Sa 7,, per annum of bonds out..the Kentucky Secur. Corp
'
1921 to
1950. V. 92, p. 1564. As of Oct 1 1922 $569,000 had1930; 1% 1931 co
been retired and
canceled by operation of the sinking fund. V. 111, p.
1083. $50,000 are deposited with the trustee of the Lexington
bonds are listed on Phila. Stock Exchange. Utilities Co. Indenture. The
V. 94. p.
retires 17 of Lexington Ry. bonds annually; $292.0001119. Sinking fund
were held in s. f
Oct 11922.
ROAD.-Oporates 92.59 miles of track, comprising all street
railways in
and about Lexington, 16.02 miles; Frankfort, 7.64 miles;
Georgetown. 1.26
miles; interurban lines radiating from Lexington to Versaille
s, Georgetown
Paris, Frankfort and Nicholasville, 65.87 miles; sidings
and spurs, 1.8 miles.
50 to 80-1b. rails. Standard gauge. Owns 58
including 42 passenger city cars. 15 interurban closed and 18 open cars,
passenger, 1 ice, 3 freight
and 15 service cars.
OFFICERS.-Pres., Percy M. Chandler, Phila.•, V.
-P.,
Phila.; Sec., L. F. Rye, Lexington; Treas., J. Will Stoll, F. W. Bacon,
Treas., Jerry W. McMeekin, Lexington; Gen. Mgr., J. Lexington; Asst.
P. Pope.
p. 72, 1793; V. 110, p. 360; V. 111, p. 294, 1083, 1183, 1566; V. -V. 109,
113, p. 1983,
2311; V. 114, p. 79.

[Vol,. 115.

Bonds.
-The West Ohio 1st M. bonds have no stoic. fd.
subject to call. $476,000 have been canceled. See V. and Wilda are not
76,
ment among bondholders. Coll. tr. bonds are convertib p. 160, for agreele into 1st pref.
stock and are secured by deposit of 524.000 1st
converted. No sink. fd.; red. on Nov. 1 1921 at 5s. $476,000 have been
110. As bonds are converted, proportionate amounts of the 1st 53 which
are collateral will be
canceled
Too Lima Findlay & Tol. bonds have a sinking fund of $10,500
per ann.,
which began in 1911. Are subject to call at 105. 576.000
have been retired. V. 80. p. 2344.
Dividends.
-On 1st pref. quar. divs. were paid regularly to and
incl.
Apr. 1917. None since. On 2d pref. first div.. 1 .i %. paid
und same amount quar. to and incl. July 1914. None since. Oct. 1910,
EARNINGS.
-For year ending Dec. 31:
Gross
Net (after
Preferred
Balance,
YearEarnings.
Interest.
Taxes).
Dividends. Surplus.
1921
$1,005,488
$239,686
$163,884
$75,803
1920
1.158,808
191.226
163,868
27.358
1919
967,257
250,302
163.813
106,489,
1918
841,364
187,025
163.402
23.623
ROAD.
-Operates from Lima through Wapakoneta and
Celina; from St. Marys to Minster, and from Wapakoneta to St. Marys to
of 82.01 m.; also Lima to Findlay, 31.97 in., thus coinpleting Piqua; a total
(2) Lexington Utilities Co.
a through line
to Toledo. Total. 113.98 m., single track. Standard
ORGANIZATION, &c.
-Incorporated in Ky. on June 5
gauge. Owns 18
and electric-light and power and gas business in Lexingto 1909. Does ice pass. motor cars, 7 freight motor cars and 66 freight and express trail
n. Owns a subcars.
stantial interest in the Southwestern Utilities Corp., a holding
OFFICERS.-Pres., F. D. Carpenter. Lima; V.-P.,
company Sec. & Treas.,
A. Born, Cleve.;
owning all the issued securities of the Gas Pipe Line Corp.
H. C. Lang.
-V. 106, p. 1797, 1902; V. 107, p. 83, 403, 1288,
and
Oil Co., and 70% of the issued securities of the Southwes the Sachem 1748: V. 113, p. 1252, 1362, 1676, 2186. 2506;
V. 114, p. 739.
tern Gas Co.
Has assumed the payment of prin. and int. of $861.000
& Term. Co. 1st & ref. 5s and $750,000 Lexington Ry. Kentucky Trac.
Co. 1st M 5s.
V. 109, p. 1370. Light and power franchises expire in
1936. Gas and ice
tranchises are perpetual. Power plant has rated capacity
LINCOLN, NEB.
of 10,500 k.w.
Daily capacity of ice-manufacturing plant, 2:15 tons.
THE LINCOLN TRACTION CO.
-A trolley road.
In Aug. 1921 brought out $560,000 1st lien ,St ref. ser. "B"
6% bonds to
ORGANIZATION.
-Incorporated in Nebraska in 1909.
acquire underlying bonds, for exts., impts. and other
Is a consolicorporate purposes. dation of the old Lincoln Traction and the
V. 113, P. 966
Citizens' Ry. Co. V. 88, p. 506.
'
Holders of the old Lincoln pref. stock
STOCK AND BONDSDate.
Interest. Outstanding. Maturity. bonds. Holders of the old Lincoln corn (5700.000) received 110 in the now
($330,000) received, for every share
Stock $100.000
-All owned by Kentuck
- of old two shares of new pref. and four shares of new common. HolcierF.,
First lien & ref bonds ser "A"_ 1919 6 g A-0 y Securities Corp.
,
Apr11 1 1929 of Citizens' Ky. stock (5415,00W received 100% in new pref.
Series "B"
and 80% in
1921
6 g A-0 }$1,519,600{April 1 1936 new common.
Series "C"
1921
6 g A-0
Fares.
-In April 1921 an 8-cent cash fare with tickets at 4 for
Oct 1 1946
UnTtd $50.$100,$500,$1.000
30 cent&
was in effect. See also V. 113, p. 62a.
gold
c*tf Commercial Trust Co., Phila., Pa., Trustee.
The $250.000 old Lincoln Traction Co. Mtge. 5% bonds
Bonds.
-Are secured by a mtge. on all the co.'s property
were retired at maturity. The co. Issued 1-year notes for due Jan. 1 1920
. For further to
sufficient funds
security back of this issue see V. 109, p. 1370;
meet these bonds. These notes have been extended to Jan.
V. 113,
1 1923,
bonds outstanding at any one time is indeterminate. p. 966. Amount of
STOCK AND BONDS- Date.
Bonds of other series
Interest. Outstanding. Maturity.
may be issued under certain restrictions as defined
in
51.652.000 Dec '16, 1 •
exceeding 6% and shall stand on a parity with Ser."&"the indenture at not Common $2.000.000($100)"B"& "C." Ser."A" Pref 51,500,000 (5100)8% cu_
1,192.400 Nov '17,1
red. all or in part on any int. date on
mortgage 31,500.000 gold 1909
5 g J-J
"B" call. all or part on any int. date 60 days' notice at 101 and int. Ser.
1,250,000 Mar 1 193
on
($1.000)
okra(Interest at New York Trust Co., trustee.
Ser. "B" bonds have sink, fund equal to 60 days' notice at 102Yi and int.
2% of amount outstanding to be Notes
1920
used for permanent add'ns, exts. &c.. or for purchase
250,000 Jan 1 1923
Bonds.
-Remaining $250,000 new Lincoln Traction Co. bonds are reserved
ceeding 102J6 & int. Ser. "C" red, all or in part on of bonds at not exdays' notice at 1023 & int. Ser. "C" have annual any int. date on 60 for prior liens. Subj. to call at 110.
Dividends.
sink, fund of 1 % of
-1j% paid quar. on pref. from May 1 1909 to
full amount of Ser."C" bonds outstanding from
Oct. 1 1926 to Oct. 1 1935 inclusive. Feb. 1918 div. passed. On common, 2% paid Nov. 11917,
and taereafter to maturity of 2% per annum.
Sept. 1912.
536,400
1%
are in treasury. State taxes not exceeding the present 1st lion & ref. bonds 57,paid Mar. 15 1914 and I.% paid Sept. 1 1914. In 1915. 3%; in 1916.
rates of6% on income
in Mass., $.0015 in Md. $.001 in Ky. and
5.001
EARNINGS,
-For cal. years:
Int. payable at trustee In Phila. or agency of in Penn., will be refunded.
Yearco. in New York. V. 109,
Gross.
Net.
Int.ckTazes. Balance.
P. 1370; V. 113, p. 855, 966, 1983.
1921
$1.157,659
5286.526
5177.587
5108.939
1920
(3) Lexington Ice Co.
1,196.680
178,534
32,769
Koala Ow, s 49.46 miles of track. 211.303
ORGANIZATION,&c.-Incorp. May 11917.
OFFICFRS.-Pres.. W. E. Sharp; Treas., S. H. Burnham
Stock
000: outstanding, $70.000; $25.000 owned by Kentuck authorized, $100.- Mgr., 0..1.
; Sec. & Gen.
y Securities Corp.,
stiaw.-V. 110, p. 465, 1642: V. 113, p. 628.
and $45,000 by Lexington Utilities Co. Made
business of Consumers Ice & Cold Storage Co. a 50-year lease of plant and
OMAHk LINCOLN 5c BEATRICE RY.
Into contract with Lexington Utilities Co. for of Lexington. Has entered
Is to construct 56 miles between
sale of that co.'s ice output.
from Lincoln to Bethany Heights isLincoln and Omaha, of which / miles
7 miles just mentioned, 4 of a mile completed and In operation. Of the
is
centre of University Place. Standard an extension into the main business
gauge. 70-lb. T rail. Franchises.
99 years and perpetual. Stock auth.,
LIMA, OHIO.
32,250.000 (5100); outstanding.
$200.000. In Dec. 1916 the Nebraska RR.
WESTERN 01110 RR.
-A holding company.
Comm. auth. the company to
issue 52.000,000 common and $500.000
ORGANIZATION -Incorporated in Ohio on
pref. stock and 52,500.000 bonds
for the completion of the line from
Omaha to Lincoln, but not including the
under lease the Western Ohio Ry. but lease was June 7 1910 to take over extension to
Beatrice.
canceled by vote of stock
holders on June 28 1915 and the company
EARNINGS.
-For 12 mos. ending Dec. 31 1920.
at Sidney sold to the Standard Power & 's electri, light and power plant
gross, $35,400; net,
property and assets to the Western Ohio Equipment Co. and all Its othe after taxes. loss, $1,150. In 1919, gross, 336,550.
Railway
that company owned. Holders of corn, stock of Co. except the stock of
OFFICERS.-Pres., Harvey Musser; Sec.,
right to exchange before Jan. 1 1911 their stock forWestern Ohio Ry. had Mgr., J. M. Bramlette; Aud., Carl Weil. J. C. Musser: Treas. & Gen.
stock of Western Ohio Lincoln.
Office, 231 North 14th St..
RR,on basisof 3 shares of Ry. for one share of RR. V.
-V. 103. p. 844: V. 104, D. 73: V. 108,
D. 1275.
shares were so exchanged. Stock auth., $1,000,000; 90. p. 1556. 29,278
issued. 59a0.900.
(1) Western Ohio 12 v.
-A trolley road.
Foreclosure Suit.-The Union Trust Co., Cleveland,
LITTLE ROCK,
of foreclosure In the State Court at Lima, Ohio. V. has filed a formal bill
LITTLE ROCK RAILWAY & ELECTR ARK.
114, p. 739.
IC
ORGANIZATION .-lncorporated in Ohio on Oct.
Amer. Cities Co. (see under New Orleans) CO.
111900.
owns 84.61% of corn. and
of the Mandelbaum roads and forms a link in the through car This is one 80.12% of pref. stocks.
service from
Cleveland to Lima. Outside of municipalities has private
ORGAN IZATION.-Incorporated in
right-of-way.
Arkansas on March 17 1903 and is a.
Franchises in towns are for 25 years. Owns entire common and
pref. stock consolidation of the Little Rock Traction & Electric Co. and
of the Lima Findlay & Toledo Ry. V. 83, p. 97, 157. 381. Has
the Little
Rock Edison Electric Light & Power Co.
Operates all street railways in
to furnish power until April 30 1923 to Lima & Toledo Traction, contract Little Rock and Pulaski Heights
Ft. Wayne
and all
Van Wert & Lima Traction and Indiana Columbus & Eastern Traction
business in Little Rock, North Little Rock the electric lighting and power
.
Was leased to the Western Ohio RR., by which it is controlle
franchise extends to Sept. 28 1951; lightingand Pulaski Heights. Railway
franchise unlimited in time.
stock ownership, but lease was canceled in 1915. See remarks d through
In the latter part of 1912 acquired control of
above.
Stockholders on June 28 1915 voted to make the let pref. stock redeems
velopment Co., which controls water powers on the Garland Power & DeOuachita River. 45 miles
ble at i073. to put the company in position to retire the stock when
from Little Rock. Hydro-electric developments with
the
a capacity of 28,000
$2,500,000 let M. bonds mature on Nov. 1 1921 and arrange
a compre h p. are contemplated. V. 95, P 1746.
honsivo financial plan-but see below under In Feb. 1916 increased the corn. stock from 11.500.000
Temporary E ,
ctension."
to $2.000.000 to
Fares and Rates.-Effective Aug. 1 1918, the co. was
acquire the assets of the Merchants' Lighting Co.. a controlli
ng interest in
passenger rates. V. 107, p. 403. On Aug. 15 1918 theauth. to increase the Central Heating & Mfg. Co. and provide for further
-S. C. Comm
I.
acquisitions, exts..
auth. an increase in freight rates.
&c. 5411.700 of the new stock was gold at par; balance held
In treasury.
Fare Increase.
On Feb. 27 1918 was auth. by the Ohio P. U. Comm. to sell at
-Effective June 3 1920 the co. was auth. by the Ark.
Corp.
6% Gen. Mtge. bonds, proceeds to be used for add'ns, eats., 80 $50,000 Comm. to charge a 6-cont fare. On May 17 1920 the
and impts an ordinanc
city
V. 106. p 1128.
e amending the contract of the co. with the citycouncil adopted
so
the co. to charge a 6-cont fare. V. 110, p. 2657. Effective as to permit
Bond Interest Deferred-Default. &c.
-Due to severe
Mar.
during the winter of 1917 and the re.sulting increased cost weather conditions however, fares were reduced from 6 cents to 5 cents. V. 114, p. 3 1922,
1063.
Valuation.
-See V. 112. p. 162.
found itself unable to meet the bond int. due May 1 of operation, the co.
In July 1920 the co. applied to the Ark. Corp. Comm. for
bonds. Payment of same was made on Sept. 1 1918.1918 on its 1st M
auth. to Issue
V. 107, p. 1288. $313,000 bonds for add'ns and impts. V. 111,
Compare V. 106, _P. 1797. The Nov. 1 1918 int. on these
P. 188.
bonds
In Jan. 1921 the company brought out $700.000 1-year
April 30 1919. M
May 1 1919 interest was not paid when due, but was paid
secured 8% notes.
been paid
Nov. 1 1919 int was paid about April 30 1920 The has since proceeds together with proceeds of an 8% note for $335,000, due Dec. 4
May 1920 1921, being applied to the retirement of $1,000.0
coupon was paid Nov. 1 1920 The coupon due Nov 1
00 7% notes which ma1920
V. 112, p. 162, 744.
paid up to April 11922. In Sept. 1921 two committees (since had not been tured Jan 1 1921
consolidated)
were formed to protect the interests of the holders of the 1st
STOCK
Interest. Outstanding. Maturity
mtge.5% bonds Common AND BONDS- Date.
owing to toe company's inability to pay same at maturity
seml-ann $1,911.700 June '17.3%
Nov. 1 1921 Prof 6% 52.000,000 3100)
(see below).
cum 3750,000 ($100)_
6 J-J
750.000 July '18, 3%
First mtge $2.000,000 gold)' 1903
Committee for 1st Mtge. 5s.
5 g A-0
-Chairman, J. P. Harris;
1.794.00 Apr 1 1933
Chambers,
($1,000)
cs1Interest at Canal-Commercial0Trust & Save.
I. F. Freiberger. Homan Gifford, E. J. B. Huntoon, A. M.Wolf;
L. J.
Sec.,
Bank, New Orleans. Trustee.
Thos. H. Jones. Depositary: Union Trust Co., Cleveland,
positaries: Fidelity Trust Co., Baltimore; State Street Trust Co., Sub-de- Refunding and extension mtgl 1908 6 g A-0
1.592,500
Boston:
15.000.000 ($500 and $1,- Int at Bank of Commerce & Apr 1 1938
Marine Trust Co., Buffalo; Empire Trust Co., N. Y. City, In
Trust Co..
000) gold
Memphis, Trustee, or Guaranty Trust
c*
the committee announced that $1.800,000 of the $2,500.000 Feb. 1922
had been
Co., N. Y.
deposited. V. 114, p. 739. For two protective committees as originall
y Bond sec 1-yr notes 3700,000 1921
constituted which were merged into the above see this Section for Oct.
700,000
8 g J-J
22 *21.
($100. 35005431,000)g tfcjInterstate Trust & Bkg. Co., NowJan 1 1922
Orl., true
Temporary Extension.
-The committee named above in a circular an- Notes
8%
335.000 Dec 4 1921
nounced a temporary extension program under which the 1st mtge. 53 are
Stock.-Prof. stock is redeemable at 110 and accrued dividend
. $88,300
allowed to run as past due for the present at 5% interest.
common stock is held in treasury.
Bonds.
-First mortgage bonds are subject to call on 60 days'
STOCK AND BONDS- Date.
Interest. Outstanding. Maturity.
any interest period at 107.4. Sink fund of Li of 1% of outstand notice on
Common $30,000 (Si)---$30,000
ing bonds
1908 to 1917; 1% thereafter. On Dec.
let pf $500.000 ($100) 7% cum
476.000 Apr'17.t (
17, The refund. & extension bonds cannot 31 1920 $106,000 were held In sk. fd.
be called; 12.000.000 are reserved to
2d pf $500,000 ($100) 6% cum
Jiy'14,1 3.% retire 1st
1/%
5s. $913,000 are Pledged as part security for the 31.000.000 1-yr.
1st M $3.000,000 g (51.000)1 1901
2,500.000 Nov 1
5 g M-N
c*&rtf1Int. at Cit. Say. & Trust Co.. Clevelan21 7% notes and remainder for 80% of cost of additional property if net
$26,500 per ni
d
earns. for 12 mos. previous have been twice the annual int. charges
Trustee, or First National Bank, N. Y.
on outstanding
Collateral trust mortgage( 1410
24,000 July 1 1930 standing bonds,incl. those to be issued. A sinking fund of Si of 1% on out6%
bonds which began Aug. 1 1913 is to be invested in these bonds
3500.000
.0 Cleveland Trust Co., Trustee.
at
not higher than a 4 t % basis, bond" to be kept alive In fund.
L F & T let mtge 5600.0001 1905
324,000 July 1 1928 1920 $72.500
On Dec.31
5 g J-J
were
gold ($1,000)
ctf Int. at Citizens' Say. & Trust Co.. Cleve- rate on subseque held in sinking fund. Tbe first $1,000.000 Issued as 6s;
nt bonds to be at discretion of board of directors, but
land, Trustee, or in New York.
not
excewilna ‘1%. See full particulars regarding bonds, property
General M 5500,000
, &c., in
1918
See text
6%
V.87.p.414.




ELECTRIC RAILWAYS

OCT., 19221

to being a direct obligation of the
-The 1-yr. 8% notes in addition& ext. 6% bonds of the co. No
Notes.
ref.
co. are further secured by $9(3,000
while these
a prior claim to these notes may be created either the
new mtge. having
diva. be declared or paid on
notes are outstanding nor may any 30 days notice at a premium of ;-5 of
prof or common stocks. Red. on
and at par and Int thereafter. Int. pay1% and int during first 6 months
National Bank. N. Y. V. 112. p. 162.
able at office of trustee or First annum paid up to and including July 1918.
-on pref.. 6% per
Dividends.
1907. 4%; 1908, 44 %; 1909, 8%. In
none since. On corn., 1906. 2%;
1912 to 1915, 10%. In Jan. 1918. 1%;
le10, 8%. Ili 1911. 20%. In 1917.3%; Dec. 1917, none(V. 108, P. 396)
2%. In June
July.3%; Dee.30.
EA RNIN0S.-For cal years.
Surplus
Net aft. Tax. Int., &c.
Gross
Year$342.402
$293,688
$636.090
$1,989.295
1920_
296.793
246,340
543.133
1.696.743
1919
13.285 miles of double
-Operates 41.091 miles of track, Includingand 7 work cars; total,
ROA D.
82 closed
20 open.
track. Rails, 70-lb. and over.
located about 6 miles from the centre of the
110. Oporates Forest Park,
cite.
-P. & Treas.. A. Brizzolara
oFFicEo,ss_pees,, D. H. Cantrell; V.
& Aud., W. J. Th trp.-V. 111. I). 188;
Gen. Mgr.. Chas. J. Griffith; Sec.V. 114. p. 1053, 2469; V. 115, is. 73.
V. 112, p. 162, 744; V. 113, p. 71;

LONG BRANCH, N. J.
MONMOUTH COUNTY ELECTRIC CO. in separate parcels at pub-On Aug. 8 1922 tile prop3rty was sell about $1,000,000. V. 115,
Sale.
ori ;in dly
lic auction for $12,000. The roi,d cast lii tory of company, see "Electric
For
p. 869. Comp ire V. 115, p. 71. 29 1922.
Railway" Supplement for April

LONG ISLAND CITY; N. Y.

69

In view of the default in the payment of the int. duo Jan. 1 1922 on the
,
Steinway Ky. 1st M. 6 and the then impmding defaul' of prin. & int. due
of
ts
July 1 1922, two committees were formei to protect intere, of holders
headed by H. R. Thorne (V. 113. p. 2819)
these bonds. One committee was
and the other by Geo. W. Davison (V. 114, p. 80). The first named committee arranged to pay the Jan. 1 1922 coupon. V. 114, p. 80. Later the
two committees were consolidated. The committee resulting from the consolidation is composed of:
Committee for Steinway Ry. 1st Mtge. 63.-Geo. W. Davison, Roswell
Eldridge, Walter E. Frew, Harold B. Thorne and Wm. Carnegie Ewen.
p. 307.
Depositary, Central Union Trust Co., N. Y. City. V. 114.cons. mtge. 4s
Int. due Apr. 1 1922 on the N. Y. & Queens County 1st
having been defaulted (V. 114. p. 1766). the following committee was
formed:
an. Fredk.
Committee for N. Y. & Queens Co. 1st Cons. Mtge. 4s.-Chairm
Osborne; C. Stevenson Newhall and James II. Perkins. Depositaries:
& Trust Co.. N. Y., and Penna. Co. for Insur. on Lives &
Farmers Loan
G. Ann., Phila. V. 114, p. 1766.
& College
Int. due t/oc. 1 1921 and Juan 1 1922 on the $50.000 Flushing5s was not
Point 1st Mtge. 5s and on the $150,000 Newtown Ry. let Mtge.
paid when due. V. 114, p. 2580.
5
l it10
Interest. Outstanding. Maturg2.
STOCK AND BONDS- Date.
$3.235,000
Stock $5.000,000 ($100)50,000
5 g J-D
1895
Flushing & College Point 1st(
).
sreD
mortgage $50.000 gold____ fNew York Trust Co.,1Tru
150.1)00 Dec 1 1924
5 g J-[)
y
Ely first mortgage( 1894
j
6 Trust Co.. Trustee.
92
w York gJ..
1e
$150,000 goldN 8
1,5(10.000 July 1 1922
itein way Ely first mortgage{
Co., N. Y ('ity. True.
$1.500.000 ($1.000) g___cejlnt. at Guaranty Tr. 1,300 000 June 29 1946
4 g A-0
New York & Queens County) 1896
Trustee.
first consol mtg $3.000,000i Bankers Trust Co., New York. New York.
( Interest at office of company.
gold $1.000 each
See text Nov 1 1936
4 g NI-N
First & refunding mtge. $10.-) 1906
York. Trustee.
(
000.000 gold ($1.000)_ _ _c• Windsor Trust Co.. New
6.
------- . 611,116
Ourrent nahilities Dec. 31 1920 ---accounts owing associated companies'
• includes 35,521,855 bills and $2,086,827 are deposited as collateral for
Of the new $10,000.000 mtge..
0 are reserved for
oans from Interborough Rapid Transit and $3.010,00 call. Under the
not subject to
arlor liens. No sinking fund and bonds areoriginally $2,500,000 bonds out
1st cons. M there were
V Y.& Queens Co.
of Int., reorganiza'tending. but the company having defaulted In payment
ed $1.200.000. Interest
tion was made, under which the holders surrender le at 105 and int. V.
was reduced to 4%. The said bonds are redeemab
89. p 908.
of
70.37
-The system, with the Queens Railway. embraces 31 s5,miles
ROAD.
sidings.
second track,
trolley track, including main line, 36.71 miles;196 pass. cars, 32 others.
gauge:
1.27. Rails 70 to 116 lbs.. standard
-For fiscal years ending June 30:
RE PORT.
Other Inc. Int., Tares, &c. Deficit.
Net,
Gross.
Year6
4751 15
2 13, 55
$.3-1 80 1
$8,489
def$272,513
$1.256,198
1920-21358.699
6.136
def121,151
1919-20- 1.166.990
516,951
362,251
7.284
def161,988
1918-19___ 1,044.334
548,389
357,124
1,699
def192.963
947,659
1917-18___
-P. & Treys, W. L. Pepperman;
-Press W. 0. Wood; V.
OFFICERS.
V. 114, p.
Sec., H. M. Fis‘ier; Aul., E. F. J. G tynor.-V. 113, p. 2819;
1766, 1891, 2116. 2360, 2580, 2825; V. 115, p. 183.

ICAL COS.
THE LONG ISLAND CONSOLIDATED ELECTR
RR. InOROANIZATIoN •- Entire stock is owned by the Long Island gh Rapid
York. Owns one-half the stock (the I nterborou
corporated le New
bonds of N. Y & L. I. Trac. and
Transit Co. owning the other half) and
Long Island glee Ely.
All owned by Long Island RR.
Stock $25.0e0 ($100)
-P.. C. L. Addison; Sec., Frank E.
OFFICERS.-Pres., Ralph Peters; V.
Matt Treas.. J. F. Fahnestock.-V. 83. p. 890.
trolley road.
(1) Long Island Heist'', Rs.- A
Rapid Transit Co. and
In Jan. 1906 control passed to the Interboroughs, each owning one-half
the Long Island Consolidated Electrical Companie
the stock and bonds.
as New York & North
ORGAN 1ZATION .-Chartered March 13 1897 the former Long Island
with
Shore Ry. On Oct. 11 1899 was consolidated capital stock and 32,100.000
Electric Rys new company having $2 100,000
Jamaica were sold under forebonds. On May 7 1902 the lines north of
was then merged in the
closure to the Queens Ely Co., which company 1903 old name of "Long
Aug 28
New York & Queens county Ry. On Aug. 1909 stock was reduced from
was resumed. In
Island Electric Ry."
stock originally Issued
$2,110.00,, re Ste lo.000 by sate (elation of $1.500.000
tly became the Queens Ely
to represent the piece of road which subsequen
V 89 p. 42 593
(Spumy Ry
of the N v & Queens and now forms part
-In Dec. 1919 was auth by the P. S. Comm to increase
Fare Increases.
15 cents
one-way fare between Jamaica and Far Rockaway from .0 to V. 10,
the
cents.
and between city lines and Belmont Park from 5 to 16
p. 2263.
Interest. Outstanding. Maturity
wren,ic AND BONDS- Date.
$000.000
Stock $600.000 ($100)_
600.000 June 1 1925
5 g J-D
L I Elec 1st M $600,0001 1895
c&r..ntf Hamilton Trust Co., Brooklyn, Trustee.
($1,000)
Inter.eit paid by Treasurer, New York.
-For years ending Des. 31:
EARNINGS.
Net (aft Tar.) 0th Inc. Int..Rents, &c. Balance
Cal Year- Gross.
def.351.095
$47.558
$213
def.$3,750
$269.103
1919
def.64.121
46.927
213
def.17.407
226,994
1918
Mlles of track on 18 30 ewes of roan nem,
it0 A D.-Comprittee 25.23
of the Kings county Elevated)
Crescent Avenue Brooklyn (at the terminus
Jamaica to Far Rockaway. 30
to Jamaica Hollis and Queens and from1540; V. 169. p. 888. 2263.
passenger cars and 8 others. V. 102, P.
-A trolley road.
Islan I Traction.
(2) New York & Long
by the interborough
On June 20 1905 control was purchased jointly Cos. V. go. p. 2622.
Transit Co. and the Long Island Consol Elec. Hempstead & Free
Rapid
was formerly the Mineola
ORGANIZATION .-This
18991. but name changed as above Sept. 22
port Traction (incorp. Feb 27 $125.000 to $1,000,000.
1902, and stock increased from
-On June 15 1912 P S Comm . 2d Dist decided that
Fare Decision.
' -cent fare
to limit itself to a 5
company is not obliged under Its franchiseV. 94. p. 1696.
between Hempstead and Belmont Park. 0. Wood showing Co's. Condition.
For Statement by V. P. & Gen. Mgr. W.
-See V. 109. p. 676.
sustained the decision of the ApOn Jan 8 1918 the Court of Appeals Judge James P. Nietnan on June 22
pellate Division reversing that of County
held that the company, under its franchise, could not charge
1914. which
-mile ride. (V. 99. p. 407.)
more than 10 cents for a 10
Interest. Outstanding. Last Div.
STOCK AND BONDS- Date,
$750,000
Common. $750.000 ($50)
250.000 No div. yet
$250,000 ($50)
Prof 5% cum
1902 44 g M-N 1.000.000 Nov 1 1942
First mtge $1.000,000 gold{Intermit paid by Treasurer, New York.
c&r_ntf
31.000)
Citizens' Say & Tr. Co., Cleveland, 0., Tres.
-Are sublet% to call at 107 on 30 days notice, but no sinking fund.
Bonds.
-For years ending Dec. 31:
EARNINGS.
Gross. (Vel(aft.Tax.).0th. Inc. Int.,Rent, &c. Deficit
Year$72,866
$1.117
$51,781
$19,968
$567,705
1919
75.614
584
41.584
33.446
507.629
1918
-For c .1. year 1921, gross. $597,572; net, after taxes,
Latest Earnings.
def., $71,085.
863,991. In 1920. gross, $528.835; net, after taxes,
def..
-Operates an electric line connecting Mineola, Hempstead and
ROAD.
line from Hempstead west 5.58
Freeport. 7.84 miles. Also operates made with the tracks of the Long
n is
miles to Queens. where connectio 17 01 miles long from Freeport westerly
Electric Ry. Co. Also a line
Island
and Valley Stream. to a connection with the
via Rockville Centre, Lynbrook
Brooklyn. Also a line from Queens to
Kings County Elevated Ry at 5446 miles. Total. 36.29 miles. Total
via Jericho Turnpike.
Mineola
•
and 8 other cars.
including second track, 41.31 miles. 36 passenger N Y.; V.
-P. & Oen
OFFICERS,-Pres.. C. L. Addison. Penn. Sta..
Long Island City, N. Y.; Sec. & Treas. Frank E. Heft
Mgr. W.0. Wood,
V.
p. 1101; V. 108. p. 1165; V. 109. p. 676, 1462;' 111, p. 1084.

ATION.
MANHATTAN AND QUEENS TRACTION CORPOR
William R. Begg
Receieership.-On Nov. L5 1917 Arthur C. Flume andDist. Court for the
Chatfield In the U. S.
were appointed receivers by Judge
this company for
Eastern Dist. of N. Y. In Nov. 1917 a judgment againstaccount of unpaid
S1.158,522 was awarded the Gas & Elec. Securities(Jo. on
promissory notes.
1912 to take over the
ORGANIZATION.-Incorp. In N. Y. on Nov 4
York City (see
rights and property of the South Shore Trac. Co. in New
e. and also under Manhattan & Jamaica Ry. in V. 95. p.
under Patchogu
1207. 420. V. 94. p. 1696.)
00 stock add
Asked Public Service Comm. for permission to issue $1,500,0
S. Comm. auth$1.590,000 1st M. 5% bonds, but on March 10 1914 the P.
the issue of $807.000
orized only $765,000 capital stock and recommended subscription stock.
bonds at 85. No stock outstanding; only $20.000
Aetion on the bond Issue was deferred until the company should have filed
co.
Its proposed mtge. for an auth. amount of $10.000.000, of which the the
n
proposed presently to issue said $1,500,000 with the permissio of
P. S Comm. V. 96, p. 790; V. 98, p. 523.
Fares -On Sept. 10 1918 Judge Chatfield in the Federal Court
7-cent
at Brooklyn, N. Y., refused to recognize the receiver's claim for a
granted
fare. V. 107, p. 1101. On Oct. 15 1919 Justice Edward R. FinchS. Coman alternative writ to Corporation Counsel Burr prohibiting P. receivers
missioner Nixon from taking any action on the application of the
On
for an increase in fares. S . 109. P. 1527; see also V. 109, P. 1366.
Jan 23 1920 this action was upheld by the Appellate Division of the Supreme
P. S.Comm.
On Sept. 18 1920 the co. notified the
Court V. 110. p. 465.
that it would resume operation on lines which had been closed down about
the 5-cent fare
4 weeks previous (the co. alleging the revenue derived fromto the Comm..
to be insufficient), at a 5-cent fare. The co. applied
V. 111. 1:1•
fares from 5 cents to 13 cents.oner Barrett
however, for auth. to increase
1278. In Dec. 1920 the company was auth. by P. S. Commissi
V. 111.
to divide its line into two zones and to charge a 5.cent fare in each.
p. 2423. For results under two-zone system see V. 113. p. 628.
years ending June 30:
-For
EARNINGS.
Sur. or Def.
12 Mos.- Gross. Net, aft. Tax. 0th. Inc. Rents. Interest. def.$110.397
1920-21 __$297.954 def.$5.059 $1.654 $23.593 $93.517
def.103.553
04.087
23.701
1,726
12.508
1919-20
to operate a street
ROAD.-Fras a franchise In the City of New YorkManhattan terminal
from the
surface railroad over the Queensboro Bridge
and other streets and
thereof, along Thomson Ave.. Hoffman Boulevard, line between the City
avenues in the Borough of Queens to the boundary
with the right to operate
of New York and the County of Nassau, togethercompleted and cars are in
upon the Queensboro Bridge. The line has beenand Lambertville Ave. In
Road
operation to the intersection of Sutphin
this point to Central Ave.
Queens. An additional 3.3 miles of road from
Aug. 23 1917, but
and Springfield Road was to have been completed by
granted by the Board
owing to war conditions, an extension of time was Chatfield in the U. S.
N. Y. City. In June 1918 Judge
of Estimate of
t injunction restrainDist. Court for the Eastern Dist. granted a permanen failure to complete
for
ing the city from forfeiting the contract of the co U. S. enrcult Court of
On Feb. 27 1920 the
this line. V. 106. p. 2450.
extension from the
Appeals reversed this decision. V. 110, p. 970. The completed April 26
L. I. RR. station at Jamaica to Lambertville Ave. was
t. 21.
1919. Total miles single track equivalen
-Ps., R. F. Carbutt and
OFFICERS -Gems. Mgr., B. Walter Duncan: V.
Sec. & Asst.
H. B. Weaver; Sec. & Treas., Lindlsy G. Coleman; Asst.628.
-V. 111, p. 792. 1278, 2423; V. 113, p.
Treas., F. H. Adler.

RY.
NEW YORK & COUFF.NS COUNTY is owned by the Interborough
of 32.350
32,018 shares out of total Issue one-half of the stock of the Long Island
Co.. which also owns
Rapid Transit
New York & Long Island Traction.
Electric Ry. and the
LOS ANGELES, CAL.
-On Apr. 27 1922 .Tts tice C tilaghan In the Queens County
Receivership.
appein ed S. W. Hun and R. C. Lee receivers for the SteinPACIFIC ELECTRIC RAILWAY.
Supreme Court application of the Guaranty Trust Co., trustee under the
Co.
All the stock except directors' shares is controlled by Southern Pacific
way Ry. upin
Steinway Ry., int. on which was defaulted. The order
1st Mtge. of the receiver take over only the property which oridn illy
ORO NIZATION.-Incorp. in California on Sept. 1 1911 as a merger
provided that the
Pacific Co. (V. 93, p. 667):
The following subsidiaries of the Southern
Co. (V. 114. p. 1891). The receivers put into
belonged to the Steinway
'San Bernardino Valley Traction Co.
-cent fare on that part of the system against the orders Pacific Electric Ry. n Ry.
by Los Angeles Interurba
Redlands Central Fly.
effect a separate 5
ComniPsion, but the action of the receivers was sustained
San Bernardino Interurban Ry.
of the Transit
Los Angeles & Redondo RS%
2116, 2360.
Los Angeles Pacific Co.
tho Court. V. Ill, p.
Riverside & Arlington Ry.
on
-Incorporated June 29 1896 and reorganized
ORGANIZATION.
During 1912 acquired the right of way anti all rail lines and equipment of
City
d the various lines of railroad in Long Island the the Pacific Electric Land Co. and purchased the property of the Ontario
June 30 1899. Purchase
Riker Ave. & Sanfords Point FIR..
Newtown fly. Co.. the & Newtown Ry. and the Flushing & & San Antonio freights RR.
known as the
Island City
lperates under agreement over the Riverside Rialto & Pacific RR.
it,
Steinway Ely.,the Long
1902 the Queens Ely. was consolidated with
College Point Ry. In May stock from $2.500,000 to $5,000,000. The passenger service only.Line Defeated.
-On Nov. 2 1920. the residents of
increased its
for Municipal
Plan
and thereupon
property sold at foreclosure of the New York Pasadena voted against a proposition calling for the issuance of $4,500,000
Queens Ry. succeeded to the g a line of 6 miles from Flushing to Jamaica
electric railway between
Flushing and in bonds to finance the building of a municipal lines. V. Ill, p. 1950.
& North Shore Ely. comprisin
between Flushing and College Point.
Los Angeles and Pasadena to compete with the co.'s
with franchises for fines
to abandon its line between
V 74 P. 1197
The company in Sept. 1921 applied for auth.
Bayside and Manhasset. Bridge across frlackwell's Island was opened in
miles. V. 113. P. 1364.
municipal trolley across San Bernardino and Arrowhead. about 7 bonds to refund a like amount of
The new Queensboro
City of New York's
In Aug. 1920 was auth. to issue $200.000
1909. On Sept. 19 1909 the On Dec. 16 1909 New York & Queens County
matured Aug. 14 1919. The bonds
bridge began operation. franchise to run cars over the bridge. Opera- Riverside & Arlington Ky. 4s which
the
to accept Pacific
s only are were owned by the Southern Pacific Co. which was willing
Ry. was granted a permanent
p. 373. Through passenger
Elec. Ry. bonds in payment therefor. V. 111, p. 693.
tion began on Feb. 15 1910. V. 90, fare is charged.
the bridge and no extra
carried across




70

ELECTRIC RAILWAYS

[VOL. 115.

STOCK AND BONDS- Date.
Interest. outstanding. Maturitp.
Stock $100,000,000 ($100)_
LOS ANUELES RAILWAY CORPORATION.
334,000.00O
First ref mtge $100,000,000 1911
The entire $20.000,000 stock, except directors'
5 M-S
31.950,000 Sept
qualifying
gold see text
c5 tf Int. at U. S. Mtge.& Tr. Co., N. Y., 1 196] iwned by Mr. H. E. Huntington,and,along with certain amounts shares.
of differTrustee
Pac El Ry 1st mtge $10,000,- 1902
snt bond
5 g J-J
8,374,000 Jan 1 1942 aledged issues of this company and the Pacific Electric Ry.(see above), is
000 gold ($1.000)as security for the Huntington Land & Improvement collateral
c_ n tf Int. at Union Trust Co.. San Fran., Trustee
Los Aug & Pas El Ry M 31,-I 1898
trust issue
-see V. 9g, p. 527
5 g J-J
000.000 g guar ($1,000) c*;Int. at Ill. Tr. & Say. 950,000 Jan 1 192f
The Los Angeles By Company
organized
Bk.,
Can be called at 105-.._ntf( or at Chase Nat. Bank, Chic., Trustee. ,,os Angeles By. Corporation and wassubsidiar Dec. 2 1913 to merge the
its
y,
New York
Out & San Ant Heights let M1 1910
angeles (V. 97. p. 173:3). bur on March 5 1915 thethe City By. Co. of Los
6 F-A
Cal.
223.000 Feb 1 193t
$1,000.000 ($1,000) s f ntf f Int. at Southern Tr. Co..
ts application to issue 320.000.000 stock In exchange RR Comm. denied
Los A ng., True:e e
for
Pas & Mt L 1st M $500,0001 1900
dock of the By. Corp and the $5,000,000 stock of the the 320.000.000
4 g J-D
480,000 June 1 1931
City By. and to
gold (3).000)
sxecute a mtge. under which 323,544.000 bonds were
c5 ntf Int. at Union Trust Co.. San Fran.. Trustee
to be issued in exCal Pacific Ry 1st mtge gold( 1901
bangs for outstanding bonds of the
companies or bonds assumed by
5 g J-J
480,000 July
($1,000) guar
them. V. 100. p. 901. 982. Thetwo
c ntff int. at Co.'s office in N.Y. & Chase 1 1941
Los Angeles Railway Corporation
Nat.Bk
Los Angeles-Pacific RR first 1898
was incorporated in
5 J-D
10.000 June 10192f
, ingeles Railway Co.California on November 7 1910 as successor to Los
mort gold 31.000 000c• ntf Int at Citiz. Tr.& S. Bk..
and acquired all
Los A ng.,Trustee
Los Ang-Pac RR 1st con mtge 1901
oy Pacific Electric Railway and Los the city narrow-gauge lines owned
6 A-0
Angeles Interurban Railway, and
31.51)0,000g ($1,000)__ntf Int at Crocker Nat.1,465.000 Apr 1 1931
those portions of Los Angeles & Redondo Ry.
Bank San Francisco
and California-Pacific
Los Aug Her Ti & Red let M 1902
By. Co. lying
5 g M-N
74,000 May 1 1942 snd Athens, north of an east-and -west line running through Hawthorne
$500.000 gold ($1.000) _ntf Title Ins. & Tr. Co., Los
thus comprising all the street railway business of Los Angeles.
Ang., Trustee.
Los Angeles-Pacific RR first( 1903
V. 91, p. 1386. More than 55 miles of track on
5 g M-S
is
private right of way. All
3.104,000 Sept 1 1941
and ref mtge $5.000.000( Int. at Los Angeles Tr.
nain line and practically all down-town line franchise
& Sav.Bk., Tr., oral
s extend beyond 1940.
gold (31.00(1) s f___ c5 .ntf
Jwns entire 35,000,000 stock of the City Ry. of
U S Mtge & Trust Co.. N Y.. Co-Trus
Los Angeles. Incorporated
Los Angeles Pacific Co gent 1906
‘n Dec. 1910 to build new lines for the corporati
5g
on. V.91, p. 1766.
1.096,000 Jan 2 194e
consul mtge $12.500.000i Int. at Union Trust Co..
Favorable Decision.-In a decision handed down
San
April 6 1915 the District
Oourt of Appeals in Los Angeles sustained
gold ($1,000) sinking fund I or at Farmers'& Merch. Fran.. Trustee
the right of
Nat Bank,
tharge 10
-cent fares from the city to Eagle Rock. Glassel the company to
c... ntf( Angeles, or Chase Nat. Bank, New Los
and other points
York
in that district
Los Ang-Pac Co 1st ref nitite1 1910
See V 100, p. 1438.
4 g J-J
8,298,000 Jan 1 1950
$20.000.000g ($1.000) c*tffUnion Trust Co. of San
Valuation.
-V. 110. p. 167.
Fran., Trustee.
Los Aug & Redondo 1st mtge( 1902
Franchise Recommendations, &c.. by Calif. RR. Comm.
5 g J-J
-See V. 112. p.2537.
410,000 Jan 15 1932
$500,000 g ($1.000)_e_ntfi Int. at Union Trust Co..
STOCK AND BONDS- Date.
San Fran.,
Interest. Outstanding. Maturtty.
land RR. co's office, N. Y. City. Trustee
itock 320.000,000
320.000.000
San Bernard Vail Trac 1st M1 1901
Los Angeles By Corp let & ref) 1910
5 A-0
44.000 Oct
5 g J-D
gold 3250,000
cs ntfjTitle Ins. & Tr. Co., Los Aug., 1 1931
M 320.000,000 g (31.000) Los Angeles Trust & 14.880.000 Dec 1 1940
Trustee
Savings Bank, Trustee.
San Bernardino Valley Tr 1st) 1903
sinking fund
5 M-S
c•1
& ref mtge 31.000.000 gold1Int. at Los g ng. Tr. & 750,000 Sept 1 1933
Los Aug Co. Ry M 55.000.-1 1599
A
S. Bk. of Cal ,Trustee
5g
4.722.000 Oct 1 1938
sink fund ($1.000)cs&r.ntfl
000 gold ($1,000 each) _c•f Int. at UnionA-0
Trust Co., San Fran., Cal., Tr.
Redlands St By let M a $50.-( 1899
Los Angeles Trac 1st cons M 1898
6 F-A
50,000
250.000 Dec 1 1938
000 (31.000. &c) redeerni Title Ins. & Tr. Co., Los Aug 1 1919
gold $250.000 ($1.000)____ St. Louis5 g J-D
Union Tr Co.. St. Louis. Trustee.
Ang. True
at par; no sink fund_ _ ntf 1 Int. at First Nat.
lity By of Los Angeles let M 1911
Bank. Redlands dal
5 F-A
5 000.000 Feb 1 1941
Redlands St Ry 1st M gold} 1901
15.000.000 (31,00(1) gold c• Int. at Los Ang. Tr. &
5 M -9
27.000 Sept 1 193)
S. Bk., Los A.. True.
3150.000
ntf Title Ins. & Tr. Co., Los Aug_ Trustee
Bonds.-Int. on 1st & ref. M bonds is payable
at office of trustee.
Int. at First Nat. Bank. Redlands.Cal
Bankers Trust Co.. New York, and by arrangem
Redlands Central Ry 1st M1 1907
ent at Anglo & London
5
44.000 July 1 1937 Paris Nat. Bk., San Fran. Bonds are not subj. to call. Bonds
gold $500.000 ($1.000)_ntf I Int. at LosJ-J
have sk. fd.
Aug. Tr.&S.B. of Cal., Trustee
if $10.000 per month (Incl. s. f on enderlying
BUN 08.
bonds) to be invested In
-Pacific Elec. Ry. 1st ref. mtge.
underlying bonds: also for acquisitions and forare to provide funds to retire- first and ref. bonds at 105 and interest, or In approved securities; first
corporate purposes Bonds to k ref. bonds purchased for s. f. to he kept alive.
bear interest at such rate or rates as may be fixed
at time of issue by direc- In sink. fund. V 92. p 262: V. 94. p. 1353: V. 31.596.000 bonds are held
tors, not exceeding. however, 5% per annum
95 p.
The bonds are issued in
notice int. may he made payable at the National City 1273 On 30 days'
series. Series "A" being the only series issued
Bank. N. V
Int.
Denorrs Series "A" $1,000 on the Los Angeles Trac issue paid at Chase Nat
--other series, 31.000, $500 and 3100. Sinking
Bank N Y
3287 000
Los Angeles Ry. Co. mtge. bonds in sinking fund and
Series "A" Is subject to call from Sept. 1 1916 at fund $10.000 per year
t275,000 canceled.
110 and int. Other series City By. Co. of Los Angeles 1st mtge. bonds have a sinking
subject to call since Sept. 1 1916 at, price to be fixed by
fund of 2% per
hoard of directors
,inntim of principal amount of bonds outstanding, which
Pacific Elec. Mt. 1st Mtge.
began Jan. 1 1916;
-A sufficient amount
prior Issues. Sinking fund is $5.000 per annum, is reserved to retire $563,000 bonds in sinking fund Dec. 31 1921.
commencing Jan. 1
EARNINGS.
1907, for 5 years. then $10,000 per annum to Jan.
-For years ending Dec. 31:
1 1917: 315.000 per
annum to Jan. 1 1922, $20,000 per annum to
Fiscal Year- Gross.
•Ereenses.
Net.
Int. & Taxes. aurplus.
annum to Jan 11932. 330.000 per annum to Jan Jan. 1 1927; 325.000 per 1921
$10.211,011 $7,316,897 $2.924,114 31,682.400 $1,211.71
1 1937 and $35.000 annu
4
1920
ally thereafter, said sinking fund to be used In purchase
9.135.151 6,515,570 2.619.251 1,598,400 1,020,881
of
fund may be invested in other securities If bonds cannot he the bonds. hut 1919 _
7.403.589 5.579,541 1,824,048 1,576,125
247,923
obtained at par
* Excluding depreciation.
Los Angeles & Pasadena 1st Mtge.
-Bonds bear the guaranty of the Los
Angeles By. by end. .`.;itik. fund of $10.500
PROPERTY.
--Compri
year out
Dec.) 1905 to and incl. 1926: callable at 105per any int. of net earns. from, rails. Owns and controlsses 384.61 miles of track; 60, 72. 87 and 116-1b.
on
969 passenger cars, of which
date.
Pasadena
Mt. Lowe bonds are guar. p. & I. by both Los
type, 183 center, 70 Birney Safety and 37 standard 679 are of P-A-Y-E
Angeles Rs
type cars, 114 work
and Los Angeles & Pasadena Elec. By. Pi sinking fund
cars, &v.: total, 1.053 cars. Has favorable power
for those bonds be
contract with the Southgan 10 years from date of bonds of $5,000 per ann for
first 6 years, $7,500 ern California Edison Co.: the current being distributed through the corper ann. for second b years. 310,000 per ann for next 5
poration's own transmission system, comprisin
years
g 440.5 miles of lino and 12
per annum for remaitilng 5 years. Red at 104 and interest and 312.500 sub-stations.
California poop fly Is) Mtge. is for no stated
(
OFFICE RS.-Pres., IT E. Huntington; V.
is limited to $20,000 per mile of completed track authorized amount, hut Gen.
-P., W. E. Dunn: V.
-P. and
No
Mgr.. G. J. Kuhns; Sec.& Treas., C. A. Henderso
bonds cannot be called Ouar. p. & I. by Los Ang Trac. sinking funds and
n.
-V. 100. p. 1348.
Title Insurance & Trust co.. Los Angeles. Trustee. Co.;see V 75, p.76. 1438; V. 101. p. 370: V. 103, p. 320: V. 108, p. 683; V. 109, p. 577, 776,
1179: V. 110. p. 167. 1415; V. 111, p. 792,
Los Angeles-Pacific RR. lit Mtge.
1949; V. 112, p. 2537: V. 113.
-Red. on any int. date at 105 and int
p. 1675; V. 114, p. 2717.
Sinking fund began June 10 1908 until June 10
1926. 310,500 per year out
of net income only. Int. also payable at Illinois
Tr. & Say. Bank. Chic.
and Chase Nat. Bank. N. Y.
LOITTSVILLE, KY.
Los Angeles-Pacific RR. 151 Cons. Mtge.
-Not callable. Sinking fund
LOUISVILLE RAILWAY CO.
began April I 1911 and retires $10,500 annually (out
0ROA NIZATION.-Incoro. In Kentucky
and incl. April 1 1929. Citizens' Trust & Say Bank, of net earns, only) to
on Jan. 22 1867 and owns all
Los Angeles. trustee
the street railways In
Los Angeles Hermosa Bear, & Red Ry Is: ftge.-Int
.
payable at Crocker are partly for 99 yearsthe City of Louisville and its suburbs. Franchise
Nat Bank. San Fran
from 1856 and partly
Sink, fund began May 1
On Oct. 20 1917 the compan filed amendedperpetual.
per ann. out of net income only) to and try). May 1913 and retires $10,500
articles of incorporation InI 1942
Not can:dile
Los Angeles-Pacific RR. lit
Ref. Mtge.-StrfIcient bonds are reserved to creasing its auth pref. stork from $2.500.000 to $3.500,000 and Its corn.
stock from $5.500,000
retire prior liens. A sinking fund began in Ii40s to which
$50,000 per ann, the Louisville Traction to $8,500.00 ), in connection with the dissolution of
is payable first 5 years, 360,000 per ann. next 5 years,
Co.
$70.000 per ann
The Louisville & Interurban RR. has been
next 5 years. $50,000 yearly following 5 years, $90,000
organized in the interest of
per
His Louisville By to
$100.000 yearly following 5 years and 3150,000 per ann.ann. next 5 years
thereafter. Not securities have beenconstruct a system of urban and interurban lines. No
subject to call.
issued except $4.000.00
amount in ?Wintery 1o131 to Louisville By.0 stoc.K (increased to that
Los Angeles Pacific Co. Gen. Consol. bonds have a sink.
Co. In Jan. 1911
fund.
$10.000 per ann.: 1916 to 1920. 315.000 per ann.; 1921 to 1911 to 191$, ville & Interurban RR. acquired the Louisville & Eastern RR. (all of Louisann.; 1926 to 1930, 375,000 per ann.•, 1931 to 1944, 350.000 1925. $40.000 bonds, construction notes, reoeivers' certificates. Ste., and about whose
all the
ann.. and 1945 stock. was owned by Louisville &
to 1946, 390,000 per ann. Of the 312,500,000 auth..
Interurban), sold at foreclosure on Jan.
35,000.000 are re1911
V 92 p 59. 262
served for prior liens
Bonds are not callable
Dissolution of Holding Co.
-On Nov 22 1917 the Louisville Traction Co.,
Los Angeles Pacific Co. Is! Ref. Mtge.-Subject to call as a whole
or to which owned all the stock of the Railway company
part on and after Jan. 1 1915 on any int, date at 105 and int.
, was dissolved in order
notice
Interest payable at company's office or agency inon 3 months' to reduce Federal and State taxes. Preferred stockholders exchanged their
New York
stock for Louisville Fly. pref stock on a share-for-sha
Sinking fund of 35.000 per annum began in 1910. Guar., p. &i.,
re
by South• common stock received seven-tenths of Railway common basis; holders of
ern Pacific Co.
for each share of
Traction common.
Riverside & Arlington Ry. 1st Mtge.
-Not callable. Sink, fund began
Sept. 5 1900 as follows: After payment of exps. and int. the entire
Fares,&c.
-On July 1 1918 the Louisville & Interurban RR. increased
net in
come and entire net proceeds from sale of property applicable
fares on all suburban lines to about 25i cents per
tinder
deed to besot aside each year to and incl. 1004: In 19115 and thereafte trust Oct. 7 1920 these rates were further increased to mile. V. 107 p. 402. On
3 cents per mile. V.
r until p. 1661. In
all bonds are paid. 75% of net income and proceeds from sale of
den. 1921 the Louisville General Council denied the111.
property
co.
Redlands St. Ry. lit Mtge. 5% Bonds.
-$50.000 are reserved for the auth. to increase fares from 5 cents to 7 cents. V. 112. p. 162. The co.
previous tsetse of 8% bonds
however, obtained a temporary injunction enjoining the city
No sinking funds and bonds are not callable.
from
Redlands Central Rtl 1st Mtge.
-Sinking fund began July 1 1912 and retires fering with the collection of higher fares. The co. thereupon raised interfares
from 5 to 7 twits effeetive Feb 21 1921. V.
11.000 per annum to July 1 1917, $2.000 next 5 years. $3,000
lowing 5 years. $4.000 next 5 years and $5 000 following 5 yrs.per annum fol- slips are now biting issued under order •(f the IJ 112. p. 849. 933. Rebate
Circe(' Goose. V 112.
Not callable
Los Angeles & Redondo lit Mtge.
p. 1283. See also V. 112, p. 1741, 2642; V. 113,
-Sinking fund retires $10,000 per annum
p.
out of surplus and net earnings. Bonds are not redeemable.
1922 the U. S. Circuit Court of Appeals handed down 533, 848. In May
a decision upholding
San Bernardino Valley Traction 1st Mtge. bonds are
an injunction issued by U. S. Dist. Judge
Int. payable at First Nat. Bank, Redlands. and subject to call at 105
city of Louisville from enforcing a 5-cent fernWalter Evans restraining the
at First Nat. Bank
ordinance and restraining the
Los Angeles.
city from interference with the collection of a 7
-cent fare. V. 114, p. 2116:
San Bernadino Valley Trac. 1st & ref Mtge. bonds are red.
at 105. Sink. V. IC 5, rd anc
fund retires at 105 and int. 12 bonds during 1913-15 (incl.)
N1 0
-On Aug. 25 1922 the Mayor signed,
during 1916 pays Sept.w11 13.i4,z36.e Proposed.
and on
off 13 bonds: during 1917 14 bonds; during 1915-27 pays off 25
1922 the stockholders approved, an
bonds yrly.
during 1925-30 37 bonds yrly.; 1931 and 1932 35 bonds
-cent cash fare and a 6-cent ticket fare. V. ordinance providing for a
7
each year
Ontario & San Ant. Heights 1st Mtge. bonds are red. at
Report of Committee Proposing Service-al 115, p. 1210, 1532.
101
-Cost Plan.
-V. 111. p. 188.
fund 1914 and following 4 years 1% of outstanding bonds.and Int. Sink. See also V. 111. p. 692. 1083, 1278.
2% thereafter
Vataation.-See V. 112, p. 849.
EARNINGS -For years ending Dec. 31:
Calendar
STOCK AND BONDS- Date.
Gross
Net (after
Other
Interest,
Interest. Outstanding. Maturitp.
Balance,
C)ommon 38.500,000_ _ _____
Earnings.
YearTaxes).
Income.
Rents, &c.
Deficit.
Pref
corn 33.500.000 _____
1921
$17,096,117 $3,192,423 $104.382 $1,096,439 df3799,6
21--- * ..5 21.0(
&0
3 30 6W OcStee tex3i
8 (3
3
l8 t.%
.2
$15,346,346 32,714.411
1920
$91,432 $3,963,888 dfl.158.045 Louisville By gen mtge gold l 1910
5 g F-A
4.035.000 Feb 1 1950
$20.000.0
11,278,016
1919
897,772
134.824
3.800.322 df2,767,726 Louisville 00 ($1.000)_-c•tf(Interest payable In Louisville.
By cons M gold 1 1890
-Operates an Interurban electric railway system centering
ROAD.
6,000,000 July 1 1930
5 g .1-J
$6.000.000 (list N
at
Int at National Bank of Commerce, N. Y.;
sios Angeles extending into the counties of Los Angeles. San Bernardin
Fidellty-Col. Tr.
Riverside and Orange and serves the cities of Pasadena. San Bernardino Louisville
By 2d mtge. 32,-1 1900 4 g M-S Co., Louisville, Trustee.
o
Riverside, Colton, Redlands, Pomona,Ontario, Santa Ana, Long Beach, Co.
2,000,000 Mar 1 1940
000.000 gold ($1.000)___tf(Interest
rona, Venice, Ocean Park, Santa Monica. Redondo San Fernando. Owens- :3
payable in Louisville.
-year notes_ _ _ _
____ 1921
mouth and Lankershim. Total miles operated, single track, 1,092.221, of
(1(7.1924
Bonds.-38.000,000 of the gen mtge. bonds of 19102 re reserved
a0
5 .00
which 617.616 miles main track, 318.491 miles second and other main track
to retire
prior liens,
and 156.114 miles of sidings and turnouts. Standard gauge. Owns 46 not subject the remainder is for extensions and improvements. Bonds are
to call. Fidelity-Col. Trust Co.. Louisville. trustee.
electric locomotives, 2 gas electric locomotives. 6113 passenger and combinaDividends -5% was paid on pref. stock to and incl Oct. 1918
tion cars, 31 express cars, 889 freight cars and 97 service and miscellaneous since. 4% .
None
was paid on the old Traction common stock up to time of dissolucars: 1 power station, 44 sub-stations and 4 portable sub-stations. Power tion
Divs. of 15i% each were paid on Railway common in
purchased from Southern California Edison Co.
July 1915. Oct. div. ornItted (V. 107. p. 1385). None since. Jan.. April and
V 108. p 878.
OFFICERS.-Pres., Paul Shoup. San Francisco; V.
-P. & Gen. Mgr,,
ROAD.
-The Louisville Ry. Co. owns 177.81 miles of track on 774i
D. W. Pontius; V.
-P., Prank Karr; Sec. & Aud., H. A. Culloden. Los An- miles
geles; Treas., M. S. Wade. General offices, Pacific Electric Bldg., Los all is of streets and 9.01 miles in yards,&c.;18.05 miles are outside city linaits:
electric. Affords entrance into Louisville for the Lou. & Nor. Ry. &
Angeles.
-V. 109, p. 578, 776, 1180; V. 110. p. 1415: V. Ill. p.
793, 1084. 1370, 1950: V. 11:3. p. 850. 1364. 1675, 1888, 2080: V. 190. 693, Ltg. Co. and Lou. & Sou. Ind. Trac. Co. The Louisville & Interurban
114, p. 79. owns 105.57 miles of track in Jefferson County, Incl. extensions to
855; V. 115, p. 988, 1100, 1321, 1533, 1838.
La
Grange and to Shelbyville In Oldham and Shelby counties.




71

ELECTRIC RAILWAYS

OCT., 1922.]

-For fiscal years ending Dec. 31:
REPORT.
.
Int.& Pf. Div. Common Balance
Other
Net
Gross
Cal.
Dividend. Surplus
Year. Revenue. Earnings. Income. Tares. (5%).
$ 90,593
$96,762 $1,001,948
1921-21,469,502 $1,195,779
36,253
917,320 126,930 1,007,997
1920- 4,116,507
df148,827
996,920
742,794 105,297
1919_ 3.537,234
to discount on notes. leaving a deficit of
In 1910 $8,677 was applied
$157.504.
--Chairman of the Board, T. J. Minary; Pros., James P
OFFICERS.
Samael G.
-Ps.. Saml. Riddle and F. H. Miller; Sec. & Treas., 162, 819,
Barnes: V.
-V. 111, p. 1278: V. 112, P.
Boyle; Gen. And.. F. E. Belleville. 848. 1773. 1888. 2185. 2720; V. 114.
2642; V. 113. p. 533.
933. 1283, 1741.
1532.
p. 336, 1063, 2116; V. 115, p. 183, 436, 1210.
RY.-A trolley road.
INDIANAPOLIS & LOUISVILLE TRACTION Co.(see on a previous
corttrot.-In July 1919 the interstate Public Serviceacquired control of the
subsidiary of the Middle West Utilities Co..
page) a
and assuming the bonded
company by paying $330.000 for the capital stock
debt. V. 109. p. 270.
In Indiana as success ir to
ORGANIZATION.-Incorp. In March 1912
Co., sold at foreclosure on March 21
the Indianapolis & Louisville Traction
are for 50 years from
1912. V 94. p. 911. Franchises in cities and towns
1905; remainder is on private right of way.
Outstanding. afaturity.
Interest.
ST( s'a AND BON DS- Date.
$596,200
Comet el stock $600,000
576.750
Preferred stock 2600,000
995.100 April 11942
5 g A-0
First mortgage $1.500.000 gl 1912
settfInt. at Colonial Trust Co.. Muth., Trustee.
($100. $500 & $1.000)
$150690 are held in
.-Of the asnount reported as outstanding for limns. and extens
B
are
tress iry. Of remaining 1st M. bonds 2650.200105 and int. Sink,fund of
at
at 80% of cost. Subj. to call on any int. date1% each year to and Including
2% per annum began Oct. 11917.increasing thereafter.
April 1 1921. then reduced to 1% per annum
-For year ending Dec. 31 1921. gross. $310,930: net, after
EARNINGS.
bal., sure_ 259.868. In 1920.
taxes. $101,923; Interest. &c., 215.055: interest, &c.. 247,280: bal., stns.
grass, $286.444; net, after taxes, 288.529:
$41,219.
Seymour. Cars run
-40.9 miles of track from Sellersburg to Public Service Co.,
ROAD.
Interstate
from Slellersburg to Louisville over tracks oftracks of the Interstate Public
an- 1 from Seymour to Indianapolis over the to Indianapolis were put into
Serviee Corp. Through cars from Louisville
T
operation In 1908. Standard gauge; 75-lb. E. Van Arsdel; See. & Treas.,
-P.,
OFFICERS.-Pres., Harry Reid; V.
-V 109. P. 270.
M. Brown.
Ira Guthrie, Supt., L.

McALESTER, OKLA.
CHOCTAW POWER & LIGHT CO.
1916 to take over
ORGANIZATION.-Incorp. In Delaware on June 27
Ry & Lighting Co. sold a,
the light and power business of the Choctaw $499,000 1st M. bonds and
foreclosure (V. 102. p. 1539) and owns all the
Pittsburgh County Ry.. Incorp. in
the entire 2600.000 capital stock of the
street railway properties.
Oklahoma June 24 1916. to take over the
Ry. was auth. to
-In Aug. 1919 the Pittsburgh County p. 677. Effective
Increase.
Fare
from 5 to 7 cents. V. 109.
increase fares in McAlester
McAlester to 10 cents. Interfares in
Feb. 15 1921 was auth. to increase also raised. V. 112. P. 850. 932.
urban fares and express rates were
Interest. Outstanding. Maturity
STOOK AND BONDS- Date.
See text
$1.000.000
Common $1.000.000.
.22.1%
275.000 Aug
M-S
Pref 7% cum $275,0130------1,228.000 Sept 1 1194,
5 g M-S
gold (21.000 and' 1916
First mtge
ett(Int. at Guaranty Tr. Co. of N. Y., trustee.
$500).
annum from
-Open issue authorized. Impt. fund of 1% per
Bonds.
1 % 1934-1937;2% 1938-41.
1921-1925:1 % 1926-1929; 1 A % 1930-1933;
pref. In March and Sept. 1918. In 1919.
Dividends -Paid 334% on
,_ %; Sept., 334%; Oct..
Feb.. 354%. In 1921,_ March, 3 A %; July. 3'3iy. 1 3 %; aug., 1%%.
4
14
334%; Nov.. 5%. tn 1022. Feb.. 1.,4%.
in Feb. 1922. None since.
paid
4
On corn. initial illy. of 1 8 % earnings of the Choctaw Power & Light Co.
EARNINGS -Combined
ending Dsc. 31 1921. gross.
and the Pittsburg County Ry. Co. for year
275.264.
2001.780; net, $209.828; deprec., $70,014: charges, $64.550; surp..
Ry. operates in cities of McAlester,
-The Pittsburg County
ROAD.
over private right or
Halleyville and Hartshorne, and an interurban line, Standard gauge: rail
track
way, between these three cities. 23.26 m of cars, 2 electric locomotive.
other
56. 708:80-1b. T 12 passenger cars. 11
-P.. J. A. Trawick, Boston!
OFFICERS -Pros.. C. N. Mason, N. Y.; V.
Y•
Sec.-Treas.. L. W' Osborne, N. Y.; Gen. Mgr., J. C. Chestnut. N.
-V. 102, p. 940; V. 111. p. 1279; V. 112. p. 932.
office. 165 Broadway.

MACON. GA.
GEORGIA LIGHT, POWER & RAILWAYS.
-Is a voluntary association formed under MassaORGANIZATION.
stock of Macon Ry.
qttusetts laws in Sept. 1911. Has acquired all the corn.of
Macon Gas Co.,
& Light Co.. practically all the corn. & pref. stocks
[of the $4,000,0001 stock of the Central Georgia Power Co.,
$3.660,000
Georgia Transmission Co., and the
the entire capital stock of the Central
$2.entire capital stock of the .Georgia Public Service Corp. Also owns con581.00 7% securities of its constituent companies issued for new
struction, &c.
In Feb. 1920 sold $230.000 6-yr. 7% notes to provide for the redemption
of an issue of 6% debentures which matured Feb. 1 1920.
Interest. Outstanding. Maturity
STOCK AND BONDS- Date.
$7.660.000
Common 28.000,000($100)
500.000 Oct.'221
-3
4
t3% n-c ($100) ---Pref $2.000,000
3.933,000 Sept 1 1941
5 M-S
First 11 In sk. fd. $6,500,000 J 1911
cs&r..-'New York Trust Co.. New York. Trustee
gold ($1,000)
7 g F-A 1 1,000.000 Feb 1 1925
c*1 1920
5-yr. notes ($1.000)
(New York Trust Co.. N. Y., Trustee.
prin.
Stack and Bonds.-Pref. shares are callable at 110 and are pref. as tostock
and dividend; are listed on Pittsburgh Stock Exchange. Common
Is Hated on the Pittsburgh, Chicago and London stock exchanges. The
remaining 32.007.000 first lien bonds are reserved under careful restrictions
for acquisitions of other securities and for extensions and inlets. Bowie are
secured by deposit of all the securities owned by Ga. Lt.. P. & Rys. $390,000
(not incl. In amount reported outstanding) are held In the treasury and
$553.000 have been retired by sinking fund. Red. at 105 & int. on any
int. date on 30 days' notice. Prin. & Int. payable at office of A. B. Leach
& Co., Inc., N. Y., or Bank of Scotland. London. Annual sinking fund
1940.
$50.000 1916 to 1920, 275,000 1921 to 1925. and 2100.000 1926 to stock
V. 93. p. 1532. Bonds are listed on Chicago. Pittsburgh and London any
exchanges. The 5-year notes are redeemable, all or In part by lot, on
interest date on four weeks' notice at 105 and interest.
Dividends.
-Quarterly diva. of 134% on pref. stock were paid from Jan. 1
1913 to Jan. 1 1915, incl.; none to Oct. 1917. when regular guar. divs. of
134% were resumed.
-The combined results of the company and its subsidiaries,
REPORT.
were:
with inter-company items eliminated, for the years ending Dec. 31 Balance.
Interest
Net (after Sub. Co. Int,
Gross
Cllendar
Surplus.
Charges.
& Divs.
Tares).
Year- Earnings.
$6,837
2268.052
2225.013
2499.932
21,671,090
1921
186,757
219,744
219,680
656,181
1,689,764
1920
-Through controlled companies operates entire electric
.
PROPERTY
in
railway and gas business in Macon; furnishes electric light and power
Jackson, Jonesboro,
Macon, Monticello. Forsyth. Barnesville, Griffin. amount of electricity
Hampton, Ga.; also sells a large
Bibb, Thomaston and
In Atlanta
OFFICERS.-Pres.. W. E. Fulcher: V -P , J. D. Everitt; Sec. & Treas..
-V. 106,
Lloyd Robinson.
Paul W. Fisher: Asst. Sec. & Asst. Treas., 110. p. 561. 1642: V. 113,
V.
p. 1124. 1577, 2445, 2450; V. 108. P. 2528;
p. 182.
(1) Macon Railway & Light Co. Georgia Lt.. Power & Rya.
Entire common stock is owned by
-Incorporated in Georgia on Oct. 23 1902 by the
ORGANIZATION.
consolidation of the Macon Conaoll
Railways & Light Co. of Amsrica as a Light & fly., the North & Solute
Street By.. the Macon Electric
elated
The city ordinance
the Metropolitan Street Ry
flgacon Street Ry. and
Passed on Sept. 16 1902. granted a 50-year
permitting the consolidation.75. p. 733.
terms, see V.
franchise. For




In June 1914 Georgia RR. Commission sanctioned me issue of $700,000
idditional common stock, making the total 21.600.000.
Fare Increase.
-On July 31 1918 the City Council passed an ordinance
On May 2
allowing the company to charge a 6-cent fare. V. 107. p 906
1920 the City Council passed an ordinance raising fares to 7 cents. The
after which the grant may be abrogated by the
ordinance runs for two years
4
,.
sa .
city upon 60 days' notice. V. 110, P. 2192.
Interest. Outstanding. Maturity.
STOCK AND BONDS- Date.
($100)$900000
Common $1.6003100
See text.
300.000
6 A-0
Pref 2300.000(2100)6% cum_
959.000 Jan 1 1953
5 g 34
Slacon Ry & Lt 1st cons mtge 1903
Trustee.
N
$1.000.000 ($1.000) _elf Int. at Equitable Tr. 42.500 Y.. 1 1929
g
Tall
Co..
Vlacon Elec Lt & Ry let mtge 1899 6 g J-3
2100.000 ($500) gold _Ott Int at Equitable Ti. Co.. N. Y.. Trustee.
Bonds.
-Macon Ry. & Lt, let consols are subject to call on any interest
late at 110 and Int. $41,000 bonds, $12,300 corn. and 216.400 pref. stock
are held by Savannah Trust Co. to retire the $42.500 Macon Elec. Lt. &
Fly. bonds remaining out. See V. 76. p. 212.
-a. on pref., 1903 to Apr.
-6% per annum has been paid s.
Dividends.
1921, inclusive.
about 37.11 miles of track, all of which has
-Owns and operates
ROAD.
teen re-laid with 70-lb. rails. 58 cars.
-For years ending Dec. 31:
EARNINGS.
Interest on Pref. Die. Balance.
Net (after
Gross
Year ending
Surplus.
.
,
la(s ).
Rands &c.
Taxer).
Earnings.
D *c • 31$14.860
217.754
$127,216
$159.831
1921
$906,761
55.277
17.016
112,309
184.602
905,090
1920
Sec.. R.
OFFICERti.-leres.. Wm. H. Felton; V.-P.. P. G. Gossler:
-V. 107. p. 906
Frank Jones; Treas., L. A. alagraw; Aud. W. E. Houser.
V. 109, p. 578; V. 110, p. 2192; V. 111, p. 1083; V. 113, p. 960.
(2) Macon Gas Co.
Gas
0RG A NIZATION.-Incorp.in Ga.in 1852. Was formerly Macon
Lt. & Water Co.. but in Oct. 1011 transferred its water plant to the city,
Controls entire gas business of Macon
and changed name to present title.
la owned his na.
Practically all the 2475.500 corn. and $20.00n era? stesa let Mtge. bonds
Power & Rys. There are also outstanding $448,000
Lt..
deposited with N. Y. Trust Co.
EA RNINGS.-Por years ending Dec. 31:
Balance
Preferred
Interest
Net (after
Gross
Dec. 31
8.,-. Its.
Divs.
on Votes.
Taxes).
Earninas
Years238.007
_
$32,415
$70,422
$318,050
1021
30,672
1,666
24,933
56,605
290,276
1920
64 miles of mains, sic. Output now exceeds
Has 2 gas holders and over
-V.93, p. 942. 1537; V. 99. p. 1455.
1 000.000 cu.f t. per annum.
(3) Central Georgia Power Co.
Georgia Lt.. Power & Rys. owns $3.660.000 stock.
ORGANIZATION.-Incorp. in Ga. on March 4 1907 as Bibb Pow. Co.
oper. June 1 1911,
and in Jan. 1908 changed name to present title. Began
Interest. Outstanding. Maturity.
Date.
STOCK AND BONDS34.000.000
Stock 21,000,000
2.650.600 May 1 1938
5 M-N
Mtge $3.000.000 g (31.000,1 1903
$500 & $100. or £ equiv-} Empire Trust Co.. New York. Trustee.
c.&r*_i
aient)
Bonds.-Int. on bonds is payable at office of A. B. Leach & Co.. Inc.,
for
N. Y.. or Bank of Scotland, London. Subject to call at 105 and int.
sinking fund or any or all at company's option on any int. day. Sinking
fund of 1% of bonds out began in 1913. V. 88. v. 1199. $319,400 bonds
in sinking fund.
-For 12 mos. ending Dec. 31:
EARNINGS.
Net, aft Tax. Bd. Int., &c. Surplus.
Gross.
Year235,070
2232.277
2267,317
2596,190
1921
200.630
225.000
425,630
628.838
1920
ic plant with a capacity of 24.000
-Owns hydro-electr
PROPERTY.
n
electric horse power on Ocmulgee River, near Jackson. Transmissio
lines extend to Macon. Forsyth, Jackson, Bibb, Barnesville, Thomaston
with the line of the Central
and Griffin, connecting at the last-named point
Georgia Transmission Cu. (whose entire capital stock and bonds are owned
by Ga. Lt., Power & Rys ), running to Hampton, Jonesboro, Monticello and
Atlanta. Total length of transmission lines (incl. Cent. Ga. Trans. Co.).
-V.93. p. 1536, 1670.
145 miles.

MADISON, WIS.
MADISON RAILWAYS COMPANY.
-Successor In May 1916 to the Southern Wisconsin
ORGANIZATION.
Ry., for statement of which see this Section for May 1916. Franchise
in 1932. 1938 and 1944.
expire
The $200,000 notes originally matured May 1 1919 and bore int. at 6%,
but were extended for one year at 7% and a 1% premium. This issue, howa 1% bonus
ever, was again extended, this time to May 1 1921 at 7% and ass, and 1%
At mat urlty in 1921 the issue was extended for i year at
As of May 1 1922 $25,000 notes had been retired. Remainder
premium.
were extended to May 1 1923 at same rate.
City Ownership Rejected.-On April 6 1920 the proposal that the city
purchase the co.'s lines was voted down three to one. V. 110, p. 1642
Interest. Outstanding. Maturity.
STOCK AND BONDS- Date.
($100)-$350.000
Corn stock 2600,000
44.200 Bog. 1925
7%
_- _
Pref stock 1st div Sept 1925 -----877.500 "day 1 1936
5 g M-N
hit mtge 21.500.000 g ($.500 1916
cs tf Int. at Wisconsin Tr. Co., alilw.. trustee.
and $1..000).
175.000 May 1 1923
8 g M-N
3-year notes ($200.000) gold 1916
c* Int. in Chic. Wisc. Tr. Co.. Milw.. trustee.
($500 and 31.000)
may be issued for extensions. additions. &c..
-Additional bonds
Bonds.
Red. at 10214 and Int. on
for 80% of cost under conservative restrictions. improvement fund of 1 t %
any Int. date on 60 days' notice. A sinking and 1 1919 for redemption of
began May
per annum of bonds outstanding
redeemable at par and int.
ponds or improvements, &c. The notes are
were required
on any int. date on 30 days' notice. The following payments notes or for
the redemption of
to be made into an improvement fund for
and May 1 1917,
Nov. 1
Improvements. &c.: May 1 1916, 215000;215.000, 1916 Nov. 1 1918 and
and
212.500; Nov. 1 1917 and May 1 1918.
fund. The notes
May 1 1919, $17.500. $31.000 has been paid into
Os and matured May 1 1919, but were extended for one year
originally were
to May 1 1921 on the same tering
at 7% and a 1% premium, and again
At. maturity in May 1921 they were extended for another year at 8%
with a 1% premium, and again to May 1 1923 at the same rate.
-For year ending Dec. 31 1921. gross, 2413.268; net, after
EARNINGS.
taxes, $117,201. In 1920, gross, 2401,862; net, after taxes, $87,997.
-Owns 18.2 miles of standard-gauge track, including lines in
ROAD.
Madison. and extension to Fair Oaks, Elinside, Lake Park Cemetery and
South Madison.
-P., Dudley Montgomery;
OFFIeERS.-Pres., Ir. W. Montgomery; V.
-V. 103. re
Sec. & Treas., Warren Montgomery; Supt., D. Montgomery.
220; V. 110. p. 1642.

MANCHESTER, N. H.
MANCHESTER TR isCTION. LIGHT & POWER CO.
-Incorporated in 1901 in New Hampshire and comORGANIZATION.
prises the several light power and street railway properties in and around
Manchester and the light, power and gas property in Nashua. The company owns the stock of the Manchester St. Ry.. Manchester & Nashua St.
Ry. (name changed from Goffs Falls Litchfield & Hudson St. fly. in Feb.
1907) and Manchester & Derry St. Ry. In Jan. 1918 purchased the water
rights of the U. S. Bobbin & Shuttle Co.
Franchises perpetual. Interurban roads and main transmission lines
on private right of way, except through cities and towns.
Stockholders of record Nov. 24 1920 were given the right to subscribe for
2386,000 stock pro rata at par, making 24.250.000 outstanding. Proceeds
were applied to the reduction of floating debt incurred for new construction
&c. V. Ill, p. 2228. Compare V. 105, p. 2181. (now let) mtge. bonds,
In Feb. 1921 the co. issued $914.000 7% 1st ref.
proceeds being annlied to the retirement of a like amount of 1st ronsol.
5s duo Apr. 11921. V. 112, p. 562. Compare V. 112, p. 470. In June
1922 brought out $2,061,590 add'i 1st ref. mtge. 5% bonds. $1.742,530
6% cony. notes due Nov. 1 1922 were called for payment June 19 1922
101 and int. V. 114, p. 2359.

72

ELECTRIC RAILWAYS

STOCKDate.
Interest. Outstanding
Maturity
Stock $.5.000.000 ($100)___ _ _
Q-J 15
$4.250.000 Oct. '22, 2°7,
Manchester & Nashua 1st 1906
5 g J-D
200.000 June 1 1926
M gold $300.000 ($1,000)tt Int. at American Tr. Co., Boston. Trustee
Man & Derry St By let mtge 1907
5 J-D
125.000 Dec 1 1927
$500.000 ($1.000) guar _Ai Int. at American Tr. Co.. Boston, Trustee
First Ref M Sink Fund g $15-f 1917
see text
4.615,000 Aug 1 1952
000.000 ($500 & $1,000 c•;{Int. at American Trust Co., Boston, trustee.
$5.000er
tf
(
Bonds.
-The Manchester & Nashua St. Ky. and the Manchester & Derry
St. By. bonds are guaranteed. prin. & int., by Man. Tree., Lt. & Pow. Co.
Both mortgages are closed.
The fist refunding bonds are (since Apr. 1 1921) a first mortg:ag)on all
property owned. Of the amount reported as outstanding, $3.701,000 are
5s and $914,003 are 7s. Additionel bonds mey be issued for refunding and
for acquisitions under certain restrictions, but not in excess of twice the per
value of outstanding stock. Sinking fund of 1% of bonds outstanding on
each Aug. 1 begin 1919 and is applied to purchase of bonds at not to exceed
105 and int. $141,000 (incl. in amt. outstanding) hold in sk. fund Oct. 1
1922. Bonds purchased are to be hold alive. Callable at 105 and int.
V. 105. p. 909; V. 112. p. 562.
PROPERTIES.
-The different roads controlled comprise 65.596 miles
of track, as follows: Manchester Street Railway. 42.842 miles; Manchester & Nashua Street By., 14.335 miles; Manchester & Derry St. Ry
8.414 miles. 114 passenger and 15 raise. cars. 4 hydro-electric plants
present capacity approx. 11,500 h. p.; 2 steam reserve stations at Manchester with a combined capacity of approx. 10,900 h.p. and 1 steam reserve
station at Nashua with capacity of approx. 2.000 h.p. Also owns watet
rights along the Merrimac River.
Dividends.
-First dividend of 3% on July 15 1901; paid 6% per annum
to and including 1903; 7% in 1906; since 8% per aunum.
ottra
dividend in 1912.
REPORT.
-Of the Manchester Tree., Lt. & Power Co. and subsidiary
companies for years ending Dec. 31:
Year end.
Gross
Net
Interest
Balance fat
Dec. 31.
Earnings.
Earnings.
&c.
Divs. Ac
1921
$2,429.865
$782,808
$312.160
$470,618
1920
2,372,587
729,532
295.176
434 356
OFFICERS.-Pres. E. 0. Foster; V.
-P. Walter F. Norton; V.
-P. &Gen. Mgr.
Brodie Smith; Trees., Geo. S. West; Asst. Trans., A. Cun
'Angle= and Robt. Haydock; Clerk, Allan Wilson.
-V. 110,
V. 111, p. 1919, 2238; V. 112, p. 470. 562; V. 114. p. 1890. 2359,p. 2076;
2717.

[VoL. 115.

Bonds.
-let 5s of the Carbon Transit Co. are call at 105 and int, on any
)nt date.
BOA D.
-Comprises 12% miles of track, 24 cars. Owns about 425 acres
of real restate. heel. 75 acres on "Flag-staff Ffeightse•
OFFICERS.-Pres.. Rolland A. Davidson; V.
-P., D. L. Miller; Trans.,
Dr. Geo. H. Mayer; Sec., V. M. Wolff.
-V. 108, p. 2629; Y. 115, p. 436.

MEMPHIS, TENN.

MEMPHIS STREET RAILWAY CO.
American Cities Co. (see under New Orleans) owns 87% common and
48% preferred stock.
Receivership.
-On Jan. 20 1919 Pres. T. II. Tutwiler and Frank S.
glgin were appointed receivers for the co, on petition of the American
Cities Co. V 10S. p. 378
Creditors' Claims.
-V. 115, p. 1631.
Reoryanizatton Plan.
-See under "American Cities Co." on a subsequent
page, and V. 114. p. 79.
Possible Sale to Electric Bond & Share Co.
-V. 113, p. 2405.
Interest Payinents.-The int. due Jan. 1 1919 on the consol. mtge. 5%
nonds was paid in May 1919, together with 5 mos. Int. at 5% oe the deferred
payment. V. 108, p. 2241. Compare V. 108, p. 1511. The July 1 1919
Int. on this issue was paid Sept 2 1919. V. 109. p. 982. The May 1 1919
int, on the 2-yr. coll. notes was paid in June 1019 together with int. at 6%
for 1 month on the deferred payment. V. 108. p. 2330. Subsequent int.
had been paid when due up to Oct. 1 1921.
Refinancing Plan -In Oct. 1921 we were informed that a plan for refinancing the $1,250.000 2-yr. 6% coll. notes which matured Nov. 1 1920.
was then in progress.
Committee for 2-9r. Coll, 6% Notes.
-Chairman, Mortimer N. Buckner;
J. C. Neff, S. F. T. Brock, Charles Counselman, George T. Ordway. John
A. Langan; Secy., Boyd G. Cures. 26 Broad St. N. Y. City. 1)epositary:
St.,
N. Y. Trust Co., N. Y. Sub-Depositaries:
Trust Co, Phila.;
Illinois Trust & Savings Bank. Chicago. Deposits have been called for.
V. 108. p. 1511.
ORGANIZATION.-Chartered In Tennessee on March 28 1895 and consolidated wIth the Citizens' St- East End St City & Suburban and Memphis & Raleigh Springs lines:franchise. "in until Nov. 1945. The Supreme
Court has confirmed the co 's franchises in all respects. Including the right
*,o charge 5-cent fare. (Compare V 85. p 554: V 100. p. 1752.) Owns
tem operates the entire street railway business of the clay, Inc! suburbs of
Binghamton. Raleigh Springs and South Memphis and a line to Lake
View. Miss.
vir
In Mar. 1913 purchased the property (excluding the building owned in
emphis and the car barns) of the Lakeview Trac. Co. (sold at foreclosure
MARION, ILL.
in Sept. 912, for $160,000 payment to be made In 20-year Lakeview
COAL BELT ELECTRIC RN'.
In 1904 passed into control of the St. Louis Iron Mtn.& Sou. By. Co
Treed() bonds bearing 2% Int. for 2 years. 3% for 3 years. 4% for 8 years
Stock authorized and outstanding. $300.000; par of shares. $100.
and 5% for the last 7 years. V. 96 p 863
City Ordinance Vol Enforced.
-On Mar. 13 1914 Chancellor Fentress
EA Et SUNG -For year ending Dec. 31 1921, gross, 8170.224 net, after
-S.
taxes, def.. $14,834: other income, $15; def., $14,820. In 1920, gross, granted in Injunction restraining the city from enforcing a vexatious and
unrolsonable ordinance which was to have become effective Mar 14 1014.
$145.029; net, after taxes, def., $76,426: other income, $61; def., $76,365.
For loran'i of the orrilnanee see V. ocI p. 012
ROAD.
-Operates 15.36 miles of track from Mariou to Carterville and
Valuation.-In March 1920 the Tenn. P. U. Comm. fixeo the valuation
Herrin. ,Standard gauge. 52 to 70-1b. T rail.
of the property at $11.846.034. V. 110. p. 970. Compare V. 110.p. 167.
OFFICERS.-I'res., A. Robertson; Sec., F. W. Wand; Treas.. F. M. 360
Hickman.
Fares.
-In May 1919 the receivers were auth. by Federal Judge John E.
McCall to apply to the Tenn. R R. and P. U. Comm. for an increase is
fares to 7 cents, with a 1-cent charge for transfers, &c. V. 108, p. 1936.
MARION, OHIO.
Compare V. 108, p. 1721. On Juno 12 1919 the Tenn. P. U. Comm. issued
COLUMBUS MARION & BUCYRUS re Y.
an order fixing a 6
-cent emergency fare with no charge for transfers. V. 108
ORGANIZATION.
-Incorporated in Ohio in May 1913 as a reorganiza• p. 2433.
In Mar. 1920 Federal Judge John E. McCall issued an order which wee
don of the Columbus Marion & Bucyrus RR., sold under foreclosure per
accepted by all parties concerned, providing that the 6 cent fare then
plan V. 98. p. 1488. 1839.
Fare Increase.-In June 1920 fares on the co.'s lines were increased to In effect be continued as a test fare for 3 M09. from April 1 1920. at the end
of which time,should this fare be found inadequate, the rate shall automati3 cents per mile. V. 110, p. 2657.
cally go to cash fare of
STOC K AND BONDS- Date.
Interest. Outstanding. Maturity. For resultsaof operation 7 cents or 10 tickets for 63 cents. V 110, p 1290.
during the test period see V Ill, p 588. The
Stock,$350,000.
$35011110
7-cent fare with 50 tickets for 65 cents, went into effect on Aug. 18 1920.
First mtge. $100.000
tf 1914 6% g
52.000
1934 V. 111, p. 792. Effective Aug. 19 1921. the sale of tickets
Gen& Ref M $350.000. gold tf 1914
250.000
5%
19 *4 and a straight 7-cent cash fare put into effect. V. 113. was discontinued
Bonds.
-The let M Os are red. at 1023i and Int on any int. day. Rep. 1053.
maining $48,000 is held by trustees. $100,000 gen & ref. mtge. bonds
sTocK AND BON DS-Date.
Interest. Outstanding
Maturity
Common 82.500.000 ($100)are reserved to retire 1st M. bonds. V. 96. p 1488. 1839
$2.500.000
See text
EARNINGS.
-For calendar year 1921. gross, $61.308: not, after taxes. Preferred $2.500.000 5% cunal
(8100) red at ll0& accr (live'
$7.111. In 1920. gross, $61,320; net, after taxes, $15.301.
2.500.000 June'17. 24
Cons mortgage $10.000.000 1905
5g
OFFICERS.-Pres.& Gen. Mgr., Geo. Whysall; V.-P.. Jas. H.
8.584.000 July 1 1915
gold (see text) closed _ceScr Int. at
Troy, N. Y.; Sec. & Treas., II. 13. nano; Aud.& Asst. Treas., JohnCaldwell,
Waist Co., N. V.. Trustee.
Jeffano. Gen 'Inge $30,000,000 gold 1915 Central-N
8,g M
-V. 101. p. 1013. 1713; V. 110, p. 764. 2657.
See text Nov 1
($100$1.000)_c•____tf Guaranty rust Co., N Y . Trustee. 1938
2-year collateral gold notes 1917 6 g M-N
1.2.50.000 Nov 1 1920
(Si.onm
cecptlInt. at N. Y. Trust Co. N Ir., Trustee.
MATTOON, ILL.
One-year notes
6°7
CENTRAL ILLINOIS PUBLIC SERVICE CO.
Equipment trust
Controlled by Middle West Utilities Co., which see:in our "Railway &
f6%194
To 19.14
fiends -The corm)! M. bonds are in denorn. of $1,00)0 Coupon and $10.Industrial" Section
21 40 0
8
000 registered Are not subject to
ORGANIZATION.
-Incorporated in Illinois in 1902. Controls the 1910-14: $30.000. 1915-19' $35.000.call Sinking fund 1125,000 per annum.
1920-24. 840.000, 1925-29. and 850,000
Central Illinois Power Co. and has assumed as to principal,
1930-45
sinking fund that company's first mtge. 7% bonds. V. 114, p.interest and remainIngSee V 82 p 524. 1496. $1s9.000 held alive in sinking fund:
1178.
$1 416.000 deposited as security for coil gold notes. Mortgage
company also guarantees jointly with the Interstate Public Service The dosed. $512.000
gen M bonds are deposited as coil for 2
Co.
-year notes.
$1,250,000 Indiana Hydro-Electric Power Co. 1st mtge. 7%
Merin- life of notes total issue of gen M bonds cannot exceed $850.000 ex.
Principal. Interest and sinking fund. V. 114. p. 301. Doesbonds as to cept with consent of
an electric
two-thirds of collateral noteholders. Of the uniseued
light, power, water, gas, heat, ice street railway and interurban business, general mortgage hands.
$9 422 000
supplying electrical energy to 187 communities in central and southern bonds and remaining 119.656.000 are reserved to retire the consol. mtge.
are for add•ns. (mtg.. &c.. under certain
Illinois. These communities have an estimated population of 400.000. In restrictions
Red at 1024 and int, on any int date
V 101. p. 1888.
addition to the supplying of electrical energy to these communities.
8 are The 2-year coil notes were issued to provide funds for the payment of $1.served with gas, 12 with water, 12 with ice, 5 with heating and 5 with street 500,000 notes due
Nov. 1 1917. They originally matured N'ov. 1 1919 but
railway service, an interurban line being operated between Mattoon
and were extended for one year. They art callable as a whole on 30 days'
Oharieeton. Ill., and one from Eldorado to Carrier Mills.
notice at 10034 and int. Secured by $1,416,000 consol. mtge. bs and
STOCK AND BONDS- Date.
Interest. Outstanding. Maturity. $512,000 6s.
Common $10.000.000 MOO)nonaends.-On pref. stock 5% was paid from issuance up to and including
$7807900
cumS10,000.000($100)
Pref
Q-J
4.483.600 Oct 22i3. Dec. 1914. In 1915. none. In 1916, Dec.. 214% • In 1917. June. 24%.
..
First and refunding mortgagef 191- 5 -A
F 2
13.488,000 Aug 1 1952 None since. On common, first cilv.-1%-paid June 1912. In 1913.
gold ($1.000)
March 1 w ; Dec.. 1%. In 1914. June. %; Dec.. 24%; none since.
cstf!Interest payable in Chieaeo
R EPO RT.-For year ending Dec 31:
General mortgage gold
1917
6 g J-D
1.700.000
Onderlying bonds3.021.000 Dec 1 1952
Orem Rawls Net aft Tares AC. Int
$1u r n674
l .
S 0o. us
Collateral gold notes __
887.5,462
$3,342,213
$774,788
7%
$100,674
144.000
Central Illinois Pow 1st Mtge_ 1922
99
8.52.438
2.681.436
635.011
7 g M-S
217,427
1,500,000 Mar 1 1942 192011'.r.
Steck.-Pref. stock is red. at 110 and div. Flee full voting power.
191 S
R OAD
582,671
2.038.190
def.55,916
Tax-Owns 130.73 miles of track
Retie,60 to80--gl T,60 to 109-lb.
exempt in Illinois. Registrar. Illinois Trust & Savings Bank, Chicago.
538, ib.
Bonds.
-The first acd ref. bonds are red. at 105 on any interest
girder. 326 passenger and 30 miscellaneous cars.
date,
GFIeTCERS.-Pres. & Gen. Mere Thos. TI. Tutwiler: V.
Additional bonds may be issued under certain restrictions. See V 95, p,
-P.. J. F.
1744. For security of bonds, see V 103. p 1887 Cant & clomtn. True Wright; Soc. & Treas., L. LeMay.-V. 112, p. 933; V. 113, p. 417, 1053,
& Say. Bank, Chicago, trustee. Central Illinois Power let mtge. 7s are 2311, 2405; V. 114, p. 79, 948, 1179, 2350; V. 115, p. 988, 1210, 1631.
guar., prin., int. dc sinking fund by the Central Illinois Public Service
Co.
V. 114. P. 1178.
MICHIGAN CITY, IND.
Dividends
.-6% Is being paid on preferred stock.
cuicAoo LAKE SHORE & SOUTH BEND RY.
EARNINGS.
-For calendar years:
OROAN1ZATIC11 1 -Organized In Indiana Doeonthar igni,
,
Gross
Other
Years end.
Net after
Interest Pref. Divs. Balance
No securities in hands of public. All owned by syndicate, which used
Income Ac. rims
Tares.
Dec. 31. Earnings.
(6%)
qoenins
$5,878.686 $1,642,515 $15.470 $1,173,921 $258,266 $225,799 them as collateral for a note of $1,820,000 payable to the order of the
1921
Cleveland Trust Co. The note, together with accrued int, thereon,
5,168,000 1.325.453 17.019 1,019,205 233,163 60.103
1920
amounted to $3,955.218 on July 7 1922, and being duo and unpaid, all the
4,606,594 1,159.583 70,202
1919
891,719 228.630 109,436 stock
and bonds of the co. pledged as collateral wore to have boon sold
PROPERTY. &C.
-The company operates over 1.425 miles of high public auction on that date (V. 114, p. 2716). No further information.at
tension transmission lines, 4 central stations, holds 11 stations in reserve
On July 12 1918 issued 328,000 bomb (not incl. iii tame) Do reunourse
and has contracts for power from 5 other central stations. Total available the treasury for betterments. Compare V. 108, p. 2755.
capacity, 75.000 h. p.
STOCK AND BONDS- Date.
Interest. Outstanding
Maturity.
OFFICE RS.-ChaLrman of the Board, Samuel Instill; Pros., Marshall E
$5.000.000
Sampsell; V.-Ps.,¶J. Paul Clayton and Geo. W. Hamilton; Sec., P. A. Common 15.000.000($100)_
Pref $1.000.000 ($100)
1.000.000
n-c
Eriarh; Trelq„ Cs
('ripe: Awl.. R. A. Crews.
-V. 106, n. 1035. 2237: 1st mtg. $6.000.000
4.357.000 Aug 15 1947
($1.000) 1907
5 F-A 15
(
T. 108, p. 1167,1513; V. 112, p. 1023; V. 114, p. 304,1178; V. 115, P. 1531.
gold
tfl Interest at Cleveland Trust Co.. Trustee.
Equipment bonds. gold 314 1908 6 MN
50.000 Past due
0001
cl Int. at Cleveland Trust Co. Trustee.
MAUCH CHUNK, PA.
lionds.-Remaining bonds are reserved for future extensions and Im-A trolley road. provements. They are subject to call at 1024 at any int. period. Sink.
MAUCH CHUNK e5c LEHIGH roN TRANS! I- CO.
ORGANIZATION.
-Organized in 1919 as successor to the Carbon fund of $50.000 per annum began Aug. 15 1917 for 10 years. then 2% of
Transit Co. (for history see "Electric Railway Supplement" of Mar. 29 bonds outstanding until maturity.
EARNINGS.
-For year ending Doc. 31102!, gross. 1
3808,751; net, after
1919) meld at foreclosure on Jan. 20 1919. V. 108. 1)• 377
.
tar., dere SteeFFS7. In 10?0 gross, *024,810 not. after taxes 4452.305.
STOCK AND BONDS- Date. Interest. Outstanding. Maturity
ROAD -Operates a total of 70.86 miles between South Bend and HamCommon $150,000
$150.000
mond. 6.3 miles Hammond to Kensington owned by Illinois Central RR.,
Preferred $50,000
35,1 -0
7%
is leased to Chicago Lake Shore & South Bend. 70
-lb. T rail.
40-yr bonds $150.000
70,300
1919
1919 6% M-S
OFFICERS.
-Chairman of Bd., 1. R. Frelberger: Pres. & G-en. Mgr.
Carbon Transit Co 1st mtgef 1908
150.000 Aug. 1 1933 C. N.
5 g P-A
5150.000($100&$500)g_ceefleInt. at Mauch Chunk Trust Co.. Trustee. V. 86,Wileoxon: Vice-Pres., Chas. Currie: Sen. & Treas., R. R. Alexandei
p. 1528; V. 98, p. 386; V. 106, p. 2755; V. 114, p. 2716.




ELECTRIC RAILWAYS

OCT., 1922.]

MIDDLETOWN, N. Y.
WALLKII.L TRANSIT CO.
-incorporated in New York on March 30 1905 as
ORGANIZATION.
Middletown-Goshen Electric Ry and
successor under foreclosure, to theBy. See V. 80, p. 1059. 1425. ComElec.
the Mirldietown-Bloornahurg
judgment for
was placed in hands of receiver Oct. 1908 on account of a been paid off.
pany
having
Injuries obtained by a motorman. but all indebtedness
receiver was discharged April 23 1909.
Interest. Outstanding. Maturity.
Date.
STOCK AND BONDS$350.000
Stock $350.000 ($50)_ (2100.1 1905
5 g m_N
300,000 May 1 1935
gold
1st mtge $350.000
rg. Trust.
$500 and $1.000)_____c5tf1 Int. at Com'w'IthTr.Co..Harrisbu
for future improvements. Are subject to call
-$50.000 reserved
Bonds.
after 10 years at 105.
-For year ending Dec. 31 1921, gross, $89,677; net, before
EARNINGS.
taxes, $12,557.
taxes. $8,531. In 1920, gross, 577.796; net, before
ROAD - Operates 12.84 (flees of track exteuding from Middletown,
Midway Park. Goshen, Including switches. turnouts, &c. Rails
N. Y., to
Standard gauge.
65-lb. T and 80 and 40-lb. girder.
: Secretary, J. F. Weiss,
OFFICE RS.--President_
Treas., W. M. Oglesby, Harrisburg, Pa.: Gen. Mgr ,
Harrisburg, Pa.;
-V.80, p. 998, 1059.1425,2346.
W. M. Gould; Aud., Miss M. L. Robinson.

73

-P., Edwin Gruhl; Sec.. James F.
OFFICERS.-Prea., F. L. Dame; V.
Fogarty; Treas., Robt. Sealy; Asst. Sec., P. H. Piske: Asst. Treas., Fer-V. 101, p. 2134; V. 105, p. 1809; V. 106, p. 603. 614,
dinand Sherwood.
1236, 2458; V. 113, p. 2627; V. 114. p. 2368.

(1) The Milwaukee Electric Railway & Light Co.
-Successor of Milwaukee St. By. Co. Jan. 29 1896
ORGANIZATION.
per plan in V. 60. p. 1009. On Feb. 11 1919 acquired the property, &c. of
the Milwaukee Lignt, Heat & Traction Co. ((or history see "Electric
Railway Supplement- of Mar. 29 1919) subject to that co's. $5,000.000 1st
M.5s due 1929 and $4.500,000 gen. mtge. bonds due Nov. 11058. V. 109,
p. 72. Compare V. 106. p. 919: V. 108. p. 171. Embraces practically all
the street railway mines in Milwaukee. The company besides its street railway system, owns and operates an electric-light and power system and a
central-station. steam-heat system in Milwaukee serving a population now
estimated at 550,000. Does an extensive street and interurban railway and
electric light and power business, serving South Milwaukee. Cuday, Racine,
Kenosha, Wauwatosa. North Milwaukee. Whitefish Bay, Fox Point, West
Allis, Waukesha, Pewaukee, Hartland, Oconomowoc, Watertown, St.
Martins. Muskeg° Lakes, Mukwonago, East Troy. Waterford, Rochester
and Burlington. Entire common stock is owned by the Wisconsin Edison
Power Co. In April 1917 acquired the electric utility of the Commonwealth
Power Co. and the heating utility of the Continental Realty Co. and issued
21.450.000 Serial 5% notes in connection therewith. V. 106, p. 919.
In 1921 the company acquired the property of the North Milwaukee Light
& Power Co., and arranged to operate the property of the Wells Power Co.
MILFORD, MASS.
under lease.
MILFORD & UXBRIDGE STREET R
Leases the plant of the Wisconsin Electric Power Co. and guarantees payincorporated In Ma.saacnusetts in 1901. On July ment of principal and interest on that company's 1st mtge. bonds. V. 111,
ORGANIZATION
entire capital stock with the Milford Is• 1566. In Aug. 1920 the Milwaukee Power Co. was incorporated to
10 1902 conaolidated by purchase of
Operates the Grafton & Upton RR. finance the comp any's new power plant at St. Francis. The Power Co. has
olliaton & Framingham St By.
. 104, p. 73, 1631 from Milf .M to North Grafton. 15 37 Innen and the a nominal capit al of $2.000.000 and was organized so that bonds could be
V. 111, p. 1033. On Oct. 6
112. p. 2083.
edway & Dedham St. By., 16.823 miles. See V. from 7 to 8 cents and Issued with the St. Francis plant as security. Wisconsin Electric Power 0o.
1920 name of power comnany was changed to
Fare Increases.-In 1919 was math. to increase fares
Effective March 22 1920, was auth. to In 1922 aequirel control of Milwaukee Northern By.
workmen's tickets to 15 for $I.
for $1.
The railway franchises and the electric-light and power franchises are
increase fares from 8 to 10 cents on some lines and to sell 12 rides
unlimited in time.
V. 110._p. 1415.
21 1920 discontinued service
-The company on Nov
Line Discontinued.
-In Sept. 1917 the Wisc. RR. Comm. submitted Its report
Valuation.
between Franklin and Medway, Mass., about 4 miles, for an indefinite on the valuation of the physical properties of the Milwaukee Elec. By.
period. V. III. p. 2520
& Lt. Co. and Milwaukee Lt., Ht. & Trac. Co. showing a reproduction
Interest. Outstanding. Maturity. cost for beta propsrti is as of Jan. 1 1911 of $37,319,297. V. 105, I). 1339.
Date.
STOCK AND 110 N OSSee text.
$440.000
A-0
Stock corn $410.1)00 ($100)___
On the basis of the valuation of Jan. 1 1914, plus subsequent capital expenSee text.
_
100.000
J-J
cost of the comp antes as of July 31
Preferred $100.000 ($100)
165,000 Jan 1 1923 ditures, the e timated reproduction
& Fratu. 1st mtge.( 1898 7 g T-J
M. Holl.
1922 was $58,151,281 (exclusive of $2,545,266 of materials and supplies on
Trust Co., Boston. Trustee. hand). V. 112, p. 2083.
2165.000 ($1,000) g__e•ntfl Int. at Amer.
335,000 Jan 1 1923
Milford & Ust) gold bonds) 1902 7 g J-J
-In June 1918 the Wis. RR. Comm. auth. the co. to
_esti t f int. at Amer Trust Co. Boston. Trustee
Fare Increase.
($1 000)
-cent fare, eliminating the sale of tickets at 6 for 25 cents
The above bonds were originally 55 and fell due Jan. 1 1918. but were charge a straight 5
and 25 for $1. V. 106, p. 2450. In July 1918 was further earth. to increase
extended to Jan. I 1923 at 7%.
cents to 3 cents per mile and suburban fares from
Disidends.-On pref., in 1910, Si %;in 1911, 5%; in 1912 and to and incl. interurban fares from 2Si 30 tickets for 60 cents. V. 107, p. 82. On Oct.
1904, 30 tickets for 50 cents to
1918, 67 per ann. None since. On corn., in 1901 to 1903, 6%;
30 1919 the Wiac R. R. Comm. reaffirmed the principles of the zone fare
13i%; 1907. 3%; 1908. 1%; 1909, 3%; 1910 and 1911. 4%; 1912, 5%; system. The Comm auth. an increase in the single fare area from 5 to 7
thereafter to Oct. 1916, 5% per annum. None since.
The
cents cash and the sale of 18 tickets for SI and 6 tickets for 35 cents
-For fiscal years:
EARNINGS.
charge intended to be varied upward or downward
.Div. Corn.Div. Batance order was tentative and
Net (alter Deduc- Pf
Oross
Year
to enable the co. to earn 7 Si%
its
Surplus. to whatever extent necessary Zone fares were increased fromreturn on per
:ions.
(6%). (5%).
Tares).
Earnings
ending2 cents
$1,458 railway utility investment.
Doc. 31 1921_ __ _S355.280 117.327 $45.869
were also increased as a result
686 mile to 3 cents. Interurban passenger rates Judge E. Ray Stevens of the
46.556 • 45.870
Dec. 31 1920_ __ _ 362,748
1920
4.827 of this order. V. 109. p 1793. In Jan. Wisc. R. R. Comm. to
45.175
50.002
Dec 311919____ 346.728
reconsider
Dane County Circuit Court ordered the
ROAD -Owns 36 miles of track. from So Framingham to Uxbridge and the above order. V 110. p. 261. Effective Feb. 3 1920 the Comm.
&
from Milford to Medway and Hopkinton. Also operates the Grafton & ordered the co. to sell 9 tickets for 50 cents. Effective June 27 1920 the
co was smith, by the Wisc. RR. Comm. to reduce the number of tickets sold
froton RR from Milfor.1 to North Grafton, 15.37 miles and the Medway
Dedham St. Re., 21 miles. 60 passenger cars, 13 snow plows and 4 miscel- for 50 cents from 9 to FS and to abolish the sale of 6 tickets for 35 cents.
111, p. 189. See also V. 114, p. 2116.
laneous; 13 I electric motors.
-P & Sec.. V.
OS'isice.ita.-Pres 0 E. Manson, Boston. Mass.; V.
Serriee-at-Cost.-On Apr. 4 1921 the Milwaukee City Council approved a
Wendell Williams Nfilford, MASS.. Treas.. J. E. Walker. Milford; Supt..
bill to be introduced in the State Legislature, authorizing the city to enter
W. L. Adams, Milford, Mass -V. 111, p. 2520; V. 112, p. 2083.
into a service-at-cost argeement with the co. V. 112, p. 1741. The bill
was passed and has been signed by the Governor. V. 113. p. 533, 818.
A joint committee has been formed to negotiate a service-at-cost franchise
MILLVILLE, N. J.
with the city.
-A trolley road.
MILLVILLE TRACTION.
In April 1920 the company brought out $2.000.000 3-yr. 7% secured
Outstanding. Maturity.
Interest.
STOCK AND BONDS- Date.
notes to refund a like amount of 2 year si stes due May 1 1920. V. 110.
2175.000
Stock $175.000
208,000 Aug 1 1914 p. 1749. 1921 the stockholders auth. the creation of $15.500.000 pref.
5 g F-A
gold' 1894
let mortgage $400.000
May
_ ___ c•(Int. at Land Title & Trust Co.. Phila.. True. stock. "Issue of 1921" and made the outssatssr.ng 6% non-cum. mast stock
41.000 each)
-Not subject to call.
Bonds.
cumulative. V. 112, p. 2414. Compare V. 112, p. 1978. $3,000.000 of
EARNINGS -For cal. year 1921. gross, $68,811; def. from operation the new pref. stock of 8% series was i(fed to stockholders of record
(after taxes), 232.954. In 1920. gross. $79,770; def. from open (after June 15 1921 at par. V. 112, P. 2537: V. 113, n. 417. In April 1922 was
authorized by the Wisconsin RR. Comm. o sell $3.000.000 7% pref. stock
taxes). $21,162.
in Vineland for extensions. ke. V. 111 n ree
140A0 -Operates 5.20 miles of track In MillvIlle. 0.536 miles,
277 miles
rn Oct. 1922 issued 21 2,500.000 5% ref & first mtge. Series "TI" bendg,
and 5 641 miles in Township of Landis• total. 11 R. D. Wood; Sec.. Hartle
proceeds being applied to the redemption of!7 822,000 outstanding fended
OFFICERS.-I'res.. George Wood: V.-Pres..
Treas., Daniel C. Lewis.
debt (including $1,953,000 Series "A" ref. & first mtge. 7s, called for
8. Haines;
p ymeat Osc. 1 1922 at 102 si anI lit., and 32.001.0.)) 3-yeas n It is. due
May 1 1923, which have been retired, and eliminated from table Is low),
MILTON. PA.
and the reduction of floating debt and for additions, &c. V. 115, p. 1631.
PASS. RY.-Trolley.
LEWISBURG MILTON & WA TSONTOWN
Interest. Outstanding. Maturity.
STOCK AND BONDS-- Date.
ORGA!sTIZATION.-Chartered Sept. 3 1897. In 1910 Whittaker &
Diehl of ilarrisbu•g purchased control from the Railways Company General. Common stock $20.000.000
contract with Penn. RR , the isevrisb. Mil & Wateont l'ass By.
$9.850.000
(par 11100)
Under
miles of track between
agreed to Install storage-battery cars on some a11
line In conjunction with Preferred stock 24.500.000
mantandon and Nlifflinburg and to op-rate
4.500.000 Oct '22. 134
6%
6% cum (par $100)
with present trolley line at
steam use of that section of road, connecting
3,000.000 Apr '222%
8 Q-M
Pref. stock (Issue of 1921) s
East Lewisburg
$3.000.000 cum (par 21005 f
tstanding. Maturity.
t
te
STOCK AND BONDS2150.000
588,200
----- -------------7%
Preferred stock (issue of 1921)1
Stock 2150.000
175.000 Feb 1 1940
5 g F-A
23.090.030 cumel
First mortgage 2300.000 gold' 1910 Land Title & Tr Co.. Phila.. Trustee.
c•f Int. at
6.500.010 Feb 1 1926
5 g F-A
(2500!
The Milwaukee Elec Ry &f 1896
ex•
Bonds.-Remalning bonds can only be Issued for improvements anti par
Light Co cons mtge $8.-3Central Trust Co. N. Y., Trustee. Int. pay,,t1 an, 1.0 1-•t•
t.n 5
se .
iens.,,, 4 sn•a, er
able at co's office. 30 Broad St., N. Y.
000.000 gold ($1,000)__ _co
-For 12 mos. ending Dec. 31 1921. gross, S59.0(13: net,
EARNINGS.
4t4 g Ter
6.728.090 Jan 1 1931
The Milw Elec By & Light( 1906
after'taxes, $11,459.
after taxes, $3,437. In 1920, gross, $72,422; net, ti; tit le
Co ref & ext M__ $20 010.-(Trust no. of America. New York Trustee
12 a sernead•
aeiets easiest
- ....es 'If Ertel{ tes
so)
01 Int. at co.'s office, 30 Broad St., N. Y.
000 gold ($1.000)closed
Montandan to NI ifflintsurg.
operation cars. 2 storage battery cars run from .-P.. L. 0. Brown; See. &
5 J-D
5.819.000 See text
Gen & ref mtge S90.000.0001 1911
OFFI(.7ERS.-Pres.. John F Whittaker. V
-V.90. p. 1363.
gold ($1.000)Ser -A".c•tf(Int at N.Y. Bankers Tr. Co.. N. Y.. Trus.
Treas.. D. L. Diehl; Asst. Sec & Treas.. W B. Rankin.
Co ref & 1921
12.500.000 Juno 1 1961
5 g J-D
Milw Elec By & Lt
1st Mtge Ser "B" ($500 &
MILWAUKEE, WIS.
gcstf Central Union Trust Co., N. Y., Trustee.
$1.000)
THE WISCONSIN EDISON CO.. INC.
7 g M-N
3,600.000 Nov 1 1923
Secured notes S3,600,000 gold) 1918
ORGANIZATION.-Incorp in N. Y. on Nov. 7 1912 to take over the
($50.$100.$5))0&$1.0001.c*_1First Trust Co., Milwaukee, trustee.
and other WisconsIn public
North American Co.'s holdings In Milwaukee
550.000 See text.
5%
cos.:
Notes. $1.450,000 ($1.000)--- 1916
utilities. Owns or controls, through stock ownership, the following
i vtecoosio (las & glee. Co.
5 g M-N
5,000,000 May 1 1929
Mllw Lt TT .111 Tr Co 1st M gf 1899
Milwaukee Elite. By & Light Co.
of capital
a certificate of Increase
gu 15.000.000 ($1.000) g.cel Int. at Equitable Trust Co.. N. Y., trusta
On Apr. 29 191.1 the company filed provide for conversion of the con;
Sets text Nov
6%
stock from 300.000 to 400.000 shares, to
Milw Lt II & Tr Co gen Mt 1918
(After Nov. 1 1923 bear int. at rate of 5%.
vertible bonds.
gold.
Interest. Outstanding. Maturity.
BONDS- Date.
STOCK AND
Wise Elec Pow Co 1st M sk fell 1920 714 g A-0 15 4.850.000 Oct 15 191%
par
Stock 400.000 shares (no
Ser "A"($1,000) gupati_ctflOentral Union Trust Co.. N. Y., Trustee.
215.000 sh.
See text
•lasuaxi and is.suable.
value)
($1.000.
Debens 110.000.000
6.500,000 May 1 1924
6 g M-N
-The 6% pref. stock is listed on the N. Y. Stock Exch. Has
_ _e•tf 1914
STOCK.
$500 and $100)
380 per share to May 1 1(23; red. full-voting rights. Was originally non-cum. but was made corn In 1921
Debentures convertible into stock at
pref. stoek are al 'o cites ml tiee bet
V. 98. p. 112.8.
102 on 80 days' notice. 75 was paid June 1 1914: In Dec. 1914 also paid (V. 112, p. 2114. Tne 8% and 7%
at
ei 75 have no voting raghts eecept in der ault of dividends. Redeemable at 103
Dividends. -A env of $1
Dec.. $1. • In 1916. June, $I 75; Dec
1978, 2414.
$1.75;
and dividends. V. 112, p.
81 75. In 1915. June.
50c.; Dec 21 50. None until
In 1917. Apr., $I. July, July. $1: '
and 75c extra
In 1920,
Dec., $3
Bonds.-lst cons. mtge. Is closed. Of the ref. and extension bonds. $6,In 1919.
Dec 1918 when $2 was paid. June. $1; Dec.. 22.51. In 1922, June, $I. 500,000 are reserved for prior liens and 26.772.000 are deposited as collateral
Bonds are subject to call since Jan 1 1916 at
June. SI; Dec., S1.53. In 1921,
Inc. to gen. &. ref. mtge. bonds
Account of The WisrmiNin Edison Company,
108 and interest. No sink. fd See V. 81, p 1721. 1792: V. 84. p 508.
Consolidated Income Subsidiaries, Years Ended Dec 31.
as ref. mtge. falls due Dec. 1 1951. except that in the event the co,
Gen.
and
1918.
1919.
1920.
extending to 1951 on or before Dec. 1 1931,
1921.
$14,592,345 has not acquired a franchise
$22.105.800 222.947.350 $17.912,687 in 09.) 115 the mortgage becomes due on that date. Bonds of Series A are redeems
Gross earnings
16,121.188 18.1 1 1 .627 12.1155.81
any interest date since Dec. 1 1916 at l'5 and interest. on 6 weeks'
able on
Oper. esp and taxes
Sti.871 $3599 900 nosice. 213,228.039 are reserve) for n-i ,r lions: $10.593.011 el steed under
$5.981.712 $ I.a35.723 $5,2 ,
Net income
? 3041 Vet refunding and first mortgage Serie "B"rem mining S63,453.011 ire for e s'en7,01 72
2.31R lel
2 915.125
Fixed charges
$2.7.11 309 S1,1103.218 sions, improvements and acquisitions, at JO% of cost thereof under certain
See V 91. p. 1787. Bona's 11.0,51 on
$3.039.287 12.477,511
Balance
301 816 restrictions. No sinking fund
105 000
129.413
41a 990
New York Stock Exchange. 26.772,000 ref. & ext. bonds pledged as
Div on pfd. not owned_
bonds.
non.
Bal. for dep
$783,402 collateral for the gen. & ref.
$2.446.599
dies. and surplus-- $2,620,297 $2,148.099

t




I

74

ELECTRIC RAILWAYS

The ref. & 1st mtge. 5s ser "B" will be a first lien on the entire property
by Dec. 1 1931. For full description of security. &c.. of this issue see
V.112, p.2083; V.115, P. 1631. Additional bonds may be issued only at
par to refund a like amount of underlying bonds or bonds of this issue and
for 80% of the cost of additions and improvements under certain restrictions.
A sinking fund retires 17. per annum, if obtainable at or under par and int.
Are red, all or part by lot on any int. date to and incl. June 1 1923 at
105 and int., with the redemption price reduced
of 1% during each
2
-year period thereafter. Penna. 4
-mill tax refunded. V. 115, p. 1631.
Compare V. 112, p. 2083.
The al ilw Lt
Tr. co. 1st M. bonds may be called at 110 on any int.
date. They are
prin. and int., by endorsement, by the Milwaukee
Elec. Ry. & Light Co.(V. 86. p. 1042). Income tax withheld at the source
guar.,
at the rate of 4% when owned by a foreign corporation. $4,500.000
gen. mtge bonds of the Milw. Lt. lit. & Tr. Co. are pledged as security for
the 13.A00.000 5-yr. 7% notes of the Milwaukee Electric Ry & Lt. Co
The Wisconsin Electric Power Co. 1st M. 7
Bonds ser."A"are guaranteed principal and int. by the Milwaukee Elec. Ry. & Lt. Co. A semiannual sink, fund beginning 1921 provides for the retirement of 3% per
annum of Ser. A bonds by purchase at or below 107;S and int. or by call at
that price. Red. as a whole at 110 and hit. on any int. date. Penna.
4-m111 tax refunded. V. 111, p. 1566.
Notes.-Tne 5% notes of 1916 are secured by 81,000.000 goneral and
refunding bonds. They mature $150,000 on each July 1 to July 1 1926.
$900,000 have been paid off. The 5
-year 7% notes are secured by a
deposit of 40
-year 6% general mortgage bonds of the Milwaukee Light,
0
Beat & Traction Co. in the ratio of $.125 of bonds for each $100 of notes.
Conve- Pile at option of hslder at par and int. into the Milwaukse
Ht. & Trac. gen. mtge. bonds (later to be assumed by the company) pledged
as collateral for this issue. on the following basis: Nov. 1 1919 to Nov. 1
1920. 93 and int.; Nov. 1 1920 to 1922. 94 and int.; Nov. 1 1921 to 1922,
95 and int.; Nov. 1 1922 to 1923, 96 and int.; Red. on four weeks' notice
at 101 and int. prior to Nov. 11921. V. 108. p. 171.
Dividends.
-Regular quarterly dividends of Iji% have been paid on the
6% pref. since 1900. Regular quer. diva, on the 8% and 7% pref. have
been paid since issue.
-Fiscal year ending Dec. 31:
REPORT.
1921.
1920.
1921.
1920.
Gross
$18,244,237$18,867,754 Gross income_35,149,158 $4,275,443
Expenses..___12,322,311 13,866,057 Interest
2,415,335 1.799.088
Taxes
992.063
922.835 Preferred diva. 395,888
270,000
Common diva.
Net
$4,929,863 34,078,862 Bal.for depr'n
Other income.. $219.295 $196,581
&c_
____$2,337.935 $2,206,355
Revenue passengers carried in 1921, 142.366.526, against 154.503,379 in
1920. Transfer passengers, 56.491,424, against 57,889,179.
ROAD.
-Total track owned 404.61 and 1.05 miles leased. Steam power
plants have an aggregate capacity of 145,150 k. w., including leased plant
of Wisconsin Electric Power Co. 850 passenger cars.
OFFICERS.-Pres., John T. Beggs: V.
-P. & Gen. Mgr., S. B. Way:
V.-P. Edwin Grnhl: V.
-P., Charles Pfisten; Trans.,, Robt. Sealy; Sec. &
Asst. Treas., J. F. Fogarty.
'
-V. 112, p. 1978, 2083, 3414, 2537, 2637: V.
113, p. 417, 533, 848, 1053, 1251. 2185; V. 114. p. 410; 622, 1766, 1890,
2116, 2718; V. 115, p. 645, 1429, 1631.
(2) Wisconsin Gas & Electric Co.
ORGANIZATION.
-Succeeded In 1912 the Racine Gas Light Co. 1n
corp. In Feb. 1867) and acquired the Kenosha Gas & Electric Co. and Kenosha Electric Ry. Does entire gas business In Racine, Kenosha, South
Milwaukee. Cudahy and Watertown; the entire electric lighting, power and
street railway business in Kenosha, and the electric light and power business in Watertown Burlington. Lyons, Springfield. Johnson a Creek. Jet
ferson Junction, Menominee Falls, Lannon, Corliss, Clyman, Palmyra,
Eagle, Union Grove and Thiensville, and wholesales power for aupnly to
Fort Atkinson, Lake Mills, Whitewater, Lake Geneva, Delavan, Wilmot
and Elkhorn. Electric light and power business in Kenosha is done under
indeterminate permit. Franchise for street railway is Indeterminate. The
company has the right to conduct its gas business either under an indeterminate permit or under the special (perpetual and exclusive) franchises
originally granted.
In July 1922 applied to the Wisc. RR. Comm. for auth. to discontinue
service in Kenosha should the operation of competing Jitneys be sanctioned
by the City Council. V. 115, p. 184.
In July 1915 increased auth. common stock from $1,000.000 to 31.750,000
and issued $657.500 of the new stock to acquire the Watertown Gas & Elec
Co. and the Burlington Elec. Lt. & Pow. Co.(both controlled by the Wis
consin Edison Co.) and to discharge $162,000 floating debt incurred in mak
big additions and betterments.
Fare Increase -In Nov. 1920 the Wis. RR. Comm. auth. the co, to increape fares in Kenosha to 7 cents cash with 8 tickets for 50 cents and a
weeltly pass, unlimited rides, for $1. V. 111, p. 2042.
In Feb. 1922 auth. com,stock was increased from $1.750.0 to $4,000.000. .
0
4
STOCK AND BONDS- Date. Interest. Outstanding.
Maturity.
Corn stock $4000000 (3100)_
$2.000,000
Pref cum $3.000,000 (2100)
7%
2,000,000
First mortgage gold ($1.000,1 1912
5 g J-D
2,973.500 June 1 1952
lint. payable at office of co. in N. Y. Harris
$500 & $100
Trust & Savings Bank. Chicago. Trustee.
Secured notes
918 634%
300.000
1923
Convertible notes
1,000,000
7%
1925-30
Bonds.- Additional 1st M.- iends'may be Iss="als; for 80% of cash cost
l
of permanent impts.. &c., when the annual net earnings are 1;4 times tits
Int charge, incl. bonds to be issued. Bonds red. at 105 and int since
June 1 1917. The 5-year secured notes are secured by a collateral deposit
of first mortgage bonds.
EARNINGS.
-For year ending Dec. 31:
Net (after
Other
Interest,
Bal. for
YearGross.
Taxes).
Income.
&c.
Depr., &c.
$3.136,241
$712.244
1921
$30.006
$229.499
3512.751
3,318.210
430,106 • 67.215
1920
236.693
260,628
2.451.271
1919
437.332
45,488
210,913
271,905
7PROPERTIES.-Mi1es ofsingle track,8.04; miles ofgas mains.241.17.11
OFFICERS.-Pres., S. B Way; Vice-Pres., J. I. Beggs; Sec.-Treas.,
F. J. Boehn: Gen. Mgr., D. E. Callender; Aud., E. Jorgensen.
-V. 106,
p. 2458; V. 107, p. 1389; V. 111, p. 991, 2042; V. 112, p. 654, 1172; V. 115,
p._ 184.
WISCONSIN SECURITIES CO.
-A financing, underwriting and
bolding company.
OROANIZATION.-Incorp. in Wisc. Aug. 4 1911 as First Wis. Securities Co. with capital of $1.000. Name changed to Wisconsin Securities
Co. Nov. 22 1911, at which time capital stock was increased to $1.000,000.
Capital stock increased Dec. 20 1916 to 32.000.000. Through ownership
of about 38% of Pref. and Corn. stock of Marine Securities Co.. owns about
88% of the Corn. and Pref. stock of the Baltimore Dry Docks & Shin
Building Co. of Baltimore, Md. Controls Wisconsin Public Service Corp.
(see on a preceding page), a consolidation in Oct. 1922 of Wisconsin Public
Service Co. of Green Bay, and Manitowoc, Wisc.; Sheboygan Gas Light
Co., Sheboygan, Wisc.; Manitowoc & Northern Trac. Co., Manitowoc and
Two Rivers. Wisc.; Calumet Service Co. of Chilton and Brillion, Wisc.;
Oshkosh Gas Light Co., Oshkosh, Wisc.; Menominee and Marinette Light
& Traction Co. of Menominee, Mich. and Marinette, Wise., and Peninsular
Service Co. V. 115, p. 1534. Owns large interest in Wisconsin Lt. & Pow.
Co. at La Crosse, Wis. (see under that city) and Winona, Minn.; owns
stocks and bonds of various corporations; owns water power at Seymour
Rapids near High Fai1, and large track of real estate in Green Bay, Wis.
-year 6% secured notes to partially reimIn July 1918. Issued 3500.000 5
burse the company for money invested in the stock of the Marine Securities
Co. arid for additions, extensions, improvements, &c. V. 107. p. 503.
STOCK AND BONDS---?' Date. Interest Outstanding.
Maturity.
Stock. $2.000.000
50000:000
$2,000,000
000
Notes 3500.000 moo, $5001 1918
6 J-J
July 1 1923
a and $1.000
c tfi Wisconsin Trust Co.. trustee.
Sheboyean Gas Light Co.
common. 3250.000
3150,000 out
-All owned by Wisc. Recur. Co.
First niter $250.000 gold__J 1901
5g
250.000 July 1 1931
(31.000 and $500)-IInt. at Union Trust Co., Detroit, Trustee.




[VoL. 115.

Notes.
-The notes are secured by pledge of $105.000 Wisc. P. S. Co.
1st & ref. 5s, 360.000 Sheboygan Gas Light Co. notes, $450,000 Marina
Sec. Co. 7% pref. stock. $7.000 Green Bay Gas & Elec. Co. 5% bonds and
*414.000 Sheboygan Gas Light Co. 5% bonds. Callable on any int. date
on 40 days' notice at 100 and Int. V. 107, p. 503.
OFFICERS.-Pres., Clement C. Smith; V.
-Ps., Howard Greene, Geo.
P. Miller, and Ludington Patton; Sec., Howard Greene; Treas..
Mackay; A
sce.
At.. Treas., Wm. Al. (.lite.ter.-V. 10.), p. 1924:
V. 101, p. 75; V. 107, P. 503; V. 115. p. 181, 138, 1531.
WISCONSIN TRACTION, LIGHT. HEAT & POWER CO.
ORGANIZATION.-This company was Incorporated at Milwaukee in
Mar. 1900 with a nominal capital of $10,000 (since increased to 31.000 000).
for the purpose of uniting certain properties in the Fox River Valley.
Secured control of the Fox River Valley Electric Ry. and the Appl..ton
Electric Light & Power Co., and has consolidated them. In Sent. 1904
purchased entire capital stock of the Fox River Valley Gas & Electric Co.
See V. 79. p. 787. 1267.
In Mar. 1914 the Wisconsin Supreme Court sustained the State RR.
Comm. in holding. in company's suit against the city of Menasha, that me
city cannot do a commercial lighting business in connection with its own
street-lighting service without the necessary authority from the Commission
V 98. p. 761.
in Aug. 1921 the company brought out 31,500.0005% 1st Mtge.(paying
7 %) bonds to partially reimburse the company for expenditures made to
plants and for the retirement of $350.000 Fox River Valley 1st Mgte. 5s.
due Aprll 11921. V. 113, p. 1055.
STOCK AND BONDS- Date.
Interest. Outstanding. Maturity.
Stock $1.000,000 ($ 1 no)_____
3699.400
See text
Q4
First mtge (33.000.000) $1.-4 1901 5&734 J-J
3.000,000 Ally 1 1931
000 gold no sink fund ___OfInt. at First Wisc. Tr. Co.. Milw., Trustee.
Bonds.
-Entire issue of 1st Mtge. bonds may be called on any Interest
date at 110 and int. $1,500,000 of this Issue originally outstanding bore int.
at 5%. but in 1921 an additional $1.500,000 was issued under a suppiemental
Indenture providing for additional interest coupons at the rate of 2 i T per
o
annum. The indenture provides that these coupons shall share equally in
any future lien which may be placed on the property. A sinking fund of
$33.000 annually. began June 30 1922, and provides for the redemption of
these bonds. V. 113, p. 1055.
Dividends.
-In 1914 and to and incl. Jan. 1918. at the rate of 5% per
annum. None since.
EARNINGS.
-For years ending Dec. 31:
YearGross. Net(aft.Tax) Oth.Inc. Interest. Amort.Res. Balance.
1921 __$1,275,956 $335,560 311,566 $179,739 $12,691 sur.S1.54,696
1920 __ 1.194,839
59,118
136,931
17,463
def.60,350
ROAD.
-Operates 15.92 miles of track. connecting Neenah, Menasha.
Appleton and Kaukauna. 3.56 miles locally in the city of Appleton and 1.76
miles sidings and turnouts; total. 21.24 miles. Also furnishes electric light
and power to 28 communities and gas to Appleton, Neenah and Menasha.
OFFICERS.
-President, John I. Beggs; Vice-Pros.. Chas. P. Pfister
Milwaukee; Sec. & Treas. A. K Ellis.
-V. 91. v. 96. 1770: V. 98. p.
764; V. 101. p. 1093; V. 108. p. 1391; V. 113, p. 419. 962, 1055.

MINNEAPOLIS, MINN.

TWIN CITY RAPID TRANSIT.
-A holding company.
ORGANIZATION.
-Organized under the laws of the State of New Jersey
June 3 1891 and by virtue of its stock ownership of the underlying companies (to wit, Minneapolis St. Ry. Co., The St. Paul City Ry. Co., the
Minneapolis Lyndale & Minnetonka Railway Co. and The Minneapolis
& St. Paul Suburban RR. Co.) controls the entire street railway system
of Minneapolis, St. Paul, Stillwater, and lines to Excelsior. Tonka Bay and
Deephaven at Lake Minnetonka. In 1906 absorbed the North Side Street
Ry. (Robbinsdale line) and the St. Louis Park line; V. 83. p. 1472. In
1905 articles of incorporation were amended so as to make the charter
Perpetual. V. 80. p. 1914.
Settlement with City of St. PauI.-For decision as to right to build new
lines in St. Paul,see V. 79. p. 271. 2087. and for settlement with City of St.
Paul by which the city relinquishes its right of appeal from this decision and
the company agrees to pay into the city treasury real and personal
taxes. equal to at least 6% of gross earnings; see V. 80. p. 1175 property
On Oct. 23 1914 the Minnesota Supreme Court sustained the validity
of an ordinance passed by the City Council In May 1910 ordering the St.
Paul City Rr to construct a ear line on St. Clair Ave.. branching from
West Seventh rit. V 99 p 1391.
New Suhsidiaries.-Beeause of a decision of the Supreme Court holding
that suburban lines, as railways, are amenable to the Minnesota 5% .4ross
earnings tax. It was decided In Mar. 1910 to incorporate The a4Innealolis
& St. Paul Suburban RR. ($1.000.000 stock. Increased to $3.000.003 In
fan. 1911: debt limit was also increased ta 310.000 000. V. 92. n. 1871.
The Minnetonka & White Bear Navigation Co. (32.50.000 stock) and The
Rapid Transit Real EstateCorp., $15.000 stock, and to re-arrange matters
so that the suburban lines, the steamer lines and the hotels, parks. .t., of
the company might be handled separately for taxation and accounting purposes. V. 90, p. 850.
Franchise and Fares.
-The horse car franchise granted to the St P City
Ry, Co. by the City of St. Paul is without limit. The ordinance to use
electricity expires partly in 1937 and partly in 1939. Th.. MirminPolis
Street Ry. franchise is claimed by city officials to expire in 1923. V. 105.
p. 380. 683. In 1921, however, the companies surrendered the existing
franchises and now operate under indeterminate permits. V 11') p. 1979,
2191. 2538. In Oct. 1921 an ordinance was introduced In the Minneapolis
City Council advocating a 5-cent fare, despite this change which plaves the
question of fares In the hands of the State Commission. V. 113. p. 1676.
V. 115, p. 546.
Valuation of Minneapolis Street Ry.-For reports on valuation of property
In connection whit] franchise matters, see V. 105, p. 1523. 2185: V 108
p. 716; V. 108, p. 380, 683: V. 114, p. 1892.
Valuation of St. Paul City Ry.-For detailed valuation of this property.
see V. 112. p. 258.
Debt Limit of Minneapolis Street Ry. Removed.
-See V. 112 p. 1866.
Cost of Service Franchise-Fares, &c.
-After various proposals and
counter-proposals had been made, the Minneapolis Street RY Co ou June 7
1919 accepted the offer of the City Council of a 25-year cost-of-service franchise based on a valuation of $2.1.000,000. However, the fratichiso which
provided for a return of 7% on the above valuation, was defeated by
the
voters at a special election held Dec. 9 1919. V. 109. p. 2251. compare
V. 108. p. 2242, 2331, 2529: V. 109, P. 477, 1081, 1274. 1527. 2172
On May 4 1920, the people of St. Paul voted In favor of a sliding scale
of fares with a maximum rate of 7 cents per passenger. The rate fixing
power is vested In the City Council, but fares were not to he raised alroVe
-cent rate until the co furnished the service provided for In the
the old 5
ordinance. V 110, P 2193 This the co could not do
ibit pitSept.
13 1920 a new Ordinance became effective providing for a ii-cent (are.
V. 111. p. 897. Effective Sept. 1 1921. the Minnesota RR. & Warehouse
Comm. auth. the companies to raise cash fares in Minneapolis ;ind St
from 6 to 7 cents, with 4 tickets for 25 cents, but these Increases werePaul
"uspended Sept. 3 1921 by court order pending final determinati.in
V 113,
P• 536, 1054, 1157, 2081 V. 114 p. 199. 523. This case was still In court
In Oct. 1922. pending valuation of the property.
In Jan. 1921 the company raised fares on its Stillwater lines from 5 cents
to 6 cents. V. 112. p. 470.
Fare Decision.
-For decision upholding Act providing for regulation of
rates based on valuation see V. 114. p. 1892.
The $5,000,000 1st cons. mtge. 5% bonds of the Minnesp dis Si. Ely CO.
originally due Jan. 15 1919. were extended for three )roars ut Um. 15 1922
at 7% and again to Jan. 15 1925 at the some rate of tv., but in 'lie I ier
case, a payment of $10 for each band extended was mule. V. 113.1). 1983.
STOCK AND BONDS- Date.
Interest. Outstanding. Alabirtly.
Twin City Rapid Transit
Corn $22,000,000 3100)322.000.000
0070
$22. ,.104
3.00 ,
Q-J
text.
Pref cum 33.000.000(2100)- 1895 7 Q-J
q
Minneapolis Street Railway Co.
1st con
g S5,000.000 ecnt 1889
7 R J-J 15 5.000.000 Ian 15 1925
10-yr gold notes. 11.5.900.000
-All owned by Twin City Rapid Transit Co.
St Paul City Railway Co
First mtge on real estate andl 1882 6 g A-0
224.000 April I 1934
horse-car franchise_cpt JExchangeable at 105 for first consolidated.

Interest. Outstanding. Maturity.
Date.
STOOK AND BONDS456.000 Oct 1 19.si
FIrst consul iutge gold ._cpt 1884 6 g A-0
6 g J-.1 15 3.708.000 Jan 15 1937
Cable con gold(see text) cpt 1887
-All owned by Twin City Rapid Transit Co.
$1.700.000
10-Yr gold mites.
Minneapolis it St Paul Suburban Ry• $500.000 Sept 1 1923
5 g M-S
,10.000 guar byt_ 1899
let M g 115
TwCy TSt*4P Cy e*:.pt(Interest at Central Trust Co.. N. Y.. Trustee
-All owned by Twin City Rapid Transit Co.
10 yr gold notes, $2,250.000
Paul City RyMinn Street .*
10.000,000 Oct 1 1923
5 g A-0
Joint con intge $10.000,000t 1903
($1.000) gu p &l _csept(Central Trust Co. of New York, Trustee.
275.000 1922 to 1923
6%
estate mortgages
,
--Real
All bonds are for S1.000 each, and, with the exception of the Minneapolis
& St. Paul Suburban Ry. and the joint issue of 1903, interest is payable
at Farmers' Lean & Trust Co., New York.
Stock.-Listed on New York Stock Exchange.
-The Minneapolis Street Railway Co. Jointly and severally with
Bonds.
the alinneapolis Lyndale & Nlinnetonka Railway Co , issued $5,000.000
-year first mtge and first consol mtge gold bonds, due originally
5% 30
Jan 15 1919. Were extended to Jan. 15 1922 at 7% and again to Jan. 15
1925 at 7% (with payment of $10 for each bond extended. V. 113, p. 1983).
They are secured by t he same mtge. as the old 5s and are unconditionally
guaranteed. prin. and int., by the Twin City Rapid Transit Co. See statement to New York Sock Exchange in June 1895. V. 60, p. 1149.
The Si, Paul City Railway Co. has issued $3.70S,000 57 50-yr cable consolidated bonds. and may issue $680,000 now held by the Farmers Loan &
Trust Co.. trustee, to redeem the $680.000 prior lien bonds; limit fixed by
this mtge. Is 14.3SS 000, and no further underlying bonds can be put out.
Part of these cable consols ($E138.000) is guar. (p. & I.)
V. 77, p 22S1
by end of rwin City Rapid Transit Co. See statement to N. Y. Stock
Etch In Julie IS95. V. 60 P. 1150. Of the 1st console. mtge. of the St
Paul City 1224.000 are held by the Farmers' Loan & Tr. Co. to be exchanged for the S224.000 first mtge bonds
The Minneapolis Street Ry. & St. Paul City Ry. consolidated mortgage or
1903 is a joint issue of the Minneapolis Street Ry. and the St. Paul City fly
Guaranteed. prin. and int., by endorsement, by Twin City Rapid Transit
Co. see V. 77. p. 2281 and 2340).
First dividend of
Dividends.-On preferred is paying 7% per annum
1% was paid on the common stock In Aug. 1899; In 1900.3%; in 1901. 4%:
1902 to 1909 itiel 5% per ann ; 1910 to 1917 Inc' , 6% per annum. In
1%;July and Oct. divs. omitted (V. 107. p. 2290)
1918. Jan . 1 %
In 1921,
In 1919
1%. None to Feb. 1920. when 2 4'4. was nald
lan.
Jan.. 3%. V. 111, p. 2230. In 1922, Feb., 2%; July, 2%; Oct., 2%.
3
ROAD.-On Dec. 31 1921 comprised 471.57 (1111/ 8 single-track equivalent.
including four interurban lines connecting the business centres of Minneapolis and St Paul, an interurban line of 22 miles connecting St. Paul and
Stillwater. and lines to Lake Miunetonka. Standard gauge. On the principal streets of the cities 90-lb. T rail with welded Joints.
Power -Cue company leases water-power at St. Anthony's Falls (capacity 22.00) is p.), which power is now used in conjunction with power
ee
plant to run the entire railway system in
r le
oi
etr cil at rw tetal,tita
p. 704.
-Report for calendar years:
ANNUAL REPORT.
1918.
1919.
1921.
1920.
Revenue pass. carried__227.727,748 238.388.782 222.186.823 188.930.268
Transfer pass. carried_ __ 80.169,491 77.531.776 73.458,262 67.985.0.59
Receip s from ransp'n.313,734.117 $12,879,281 $11,351,739 $9,618.501
92.694
141.739
191,457
Rects. from ot h.sources.
187.197
Total receipts
Operating expenses

$13.921,314 $13.070,738 $11,493.478 $9.711.194
7.003.974
8.445.059
10.990.535 9.794.834

Net earnings
$2.930.779 $3.275.904 $3,048,420 $2.707.221
Interest, taxes, Szc
$2,215.866 $2,245.190 $2,216.785 $1,973.879
42.010
Miscellaneous debits__ _
43.283
31.614
17.608
Divs. on pref. stock (7%)
210 000
210.000
210.000
210.000
Divs. on corn. stock,,. _(2%)440.000 (3)660.900(24)550 nno (2)410 n00
Balance, surplus
$41,302
$129,100
$28,352
$47,305
OFFICE' 8.-1'res., Horace Lowry; V.
-Ps., E. W. Decker and T. J.
McGill 'ir V.- & see.. A. M. Robertson; Comp., D. J. sl•rouse: Treas.,
R. A. Cro by -V 113, p. 72, 536, 1054, 1157, 1676, 1981. 2081, 2615,
2772; V. 1,4 p. 199, 411, 523, 1892, 2238, 2719; V. 115, p. 437, 546.

ORGANIZATION.-Incorp. In 1906 under Steam Railroad Act of Illinois. Operated by electricity for passengers and steam for freight. Franchises in Monmouth are for 20 years. Was leased to the Rock Island Southn Radio my (now Mississippi Valley Ry.& Power Co.) from Feb. 1 1913 to
Dec 31 1913, on whlim date tease was canceled.
Bondholders' Cotritnatee.-W S ilammons, Frank S. Wingate and M 0.
Depesios of bends with the Fidelity Trust Co.. Portland Mc..
Williamson
and People's Trust & Savings Bank, Galesburg. III., have been called for.
See V. 102. p. 886. Also V. 110, p. 872.
Interest. Outstanding. Maturity.
)- Date.
STOCK
D
$500.000
Stock $500.000 ($100) - 5 g J-J
521.000 Jan 1 1947
First nortgage 12.500.000 gt
($1,000) red at 105
c JInt. at Con. & Com. Tr.& S. Bk., Chic., Tr.
RI)kf) -16 tulles between Galesburg and Monmouth. 75-lb. rail.
Standard gauge
-P., Will Halsted Clark, Chicago;
OFFICE RS.-Pres., L. P. Sutton; V.
Sec. & Treas., J. W. Walsh; Gen. Mgr., Geo. W. Quackenbush. Rock
Island, 111.-V. 102, p. 886; V. 109, p. 271; V. 110, p. 872, 1643.

MONTGOMERY, ALA.
-A trolley road.
MONTGOMERY LIotir Sc TRACTION CO.
Receivership.-In Jan. 1919 Judge henry D. Clayton in the U. S. Circuit
Court of 1.1‘0ain, appointel Ray Rushton isucceede,1 by S. B. Ireland
in Aug. 19211 receiver for the co., upon application of the Comml Trust
& Say. Bank of New Orleans, it being alleged that certain secured notes
were over lue. V. LOS. p 269; V. 11.3, p. 731. Compare V. 107, p. 2290.
Petition to End Rtc inership.-En Feb. 1921 the receiver presented to the
,
court a petition suggesting that the receivership be terminated and that
fares be raised from 7 to 10 cents. The petition stated that the company
had arranged to pay its creditors and was ready to dispense with a receiver.
provided it be permitted to earn enough money to keep going. V. 112. p.
744. In April 1921, however, the P. S. Comm. denied the petition of the
-cent
receiver for a 10-eent fare. V. 112. p. 1866. In July 1921 an 8
cash fare was authorized. V. 113, p. 628.
Trac. Co. was chartered In 1893.
0ittIA NHL ANON', &c
iatgornery
On Dec. 29 1911. having acquire.' the lighting property owned by Richard
mitts, name was chauged from VIontgornery Trac. Co. to above title (V. 94.
p. 207) an.iln lune 1ei2stor:k was increased from $1.000.000 to $2,000.000.
to pay for new property. V. 91. p. 1761. Stock had previously been de11.010.00n In 1909, v gg, p. 375
cremed from 1.419 oo
Does the electric railway business In Montgomery and operates a line
extending to Capitol Heights, Cloverdale and Pickett Springs; also does
an electric lighting arid power business in Montgomery, Capitol Heights
and Pickett Springs, Ala. Street railway franchises that are not perpetual
expire between 1932 and 1942. Electric light and power franchise runs
till 1910..
Piwer Contract Oerision.-See V. 103. p. 1593.
Fares.-In Sept 19I8 applied to the City Commissioners for auth. to
increase fares from 5 cents to 7 cents. V 107. p. 1101. On Oct. 5 1918
was granted a 6-remit. fare by the P. S. Comm. Effective Sept. 17 1919
-cent fare. Effective July 1 1921 the co. was granted
was auth. to charge a 7
-cent fare.
an 8
Maturity.
Interest. Outstanding.
K t NI0 130 sr Di- Date.
Pr
$2.000.000
Stock $2, 101.01,1 ,$1 10) 1 059.0)1) koril 1 1942
'
let t sef f $5,0ee 010 sk rd._ 1912 5%
7 g F-A 1,000,000 Feb 1 1923
Secured notes $1,000.000 1 1920
c Int. at Am. Exch. Nat. Bank, New York.
$1,000
trustee.
Aug. 1923
d g F-A
350.000
Mont Street fly 1st mtge( 1813
(Int. at Farmers' L.& T.Co.. N. Y.. Trustee.
$350.010 gold
Bongs.-Or the 1st A refunding bonds, $350.000 are reserved for prior
lien and $1.01'3.019 are pled red to sec Ire $1,090,000 7% secured notes. and
no ad-110)ml bt ids may be issued prior to payment of prin. and int. of
notes. Sink. (aid ea ial to 1% of all bonds authenticated annually began
April 11915. V. 95, p. 17.
E R. N INGS.-Of combined properties for cal. year 1921,gross,$739,481.
.
In 1920, gross. $893.623. In 1919. gross. $556,521.
ROAD.-Operates 31.66 miles of track; 57 cars. Standard gauge;
70-lb. T and 95-lb. girder rail. Power-house capacity, 5,000 k. w.
-V. 107, jp. 2290; V. 108, p. 269:
OFFICER -I.-Receiver, S. B. 1r Ala.
V. 109, p. 1080; V. 112, p. 744. 1866; V. 113. P• 628, 731.

MINNEAPOLIS NORTFIFIELD & SOUTHERN RY.-Incorp.in
South Dakota in July 191A to take over the property of the Minneapolis
St l'aul Rochester t Dubuque Elec. Trac. Co. ("Dan Patch" line) sold
at auction July 29 1918
Auth capital stock,$1000.000 corn and $500.000
pref : par value of shares. $100. See "Electric Ity." Section for May
1918. and V 106. p 2619 On Aug. 7 1918 was licensed for business in
Minnesota
V 107. p 1001. On Nov. 19 1918 the co. resumed operation
of the cutoff from Auto Junction to Luce Line Junction and thence to
Minneapolis Compare V 107. p. 1192.
ROAD.
-Has 57 3 miles of line In operation.
OFFICERS -Pres , James II. Ellison; V.
-P., A. D. Walker; Treas.,
W. 0. Winston; Sec. R. H. Benham.-V. 107, p. 697, 1004. 1192.

MOBILE, ALA.
MOBILE LIGI1 r & RAILROAD.
-Trolley.
•
0RG ANTIZ
consolidation on Sept. 1 1901 of the Mobile Light
& Railroad and the Mobile Street RR.• the franchises of both companies
'
were extentloti on Sept 12 1901 to March 12 1955. See V. 73. jp. 616.
In July 1906 the Mobile Illuminating Co. purchased the electric-light
Plant of the company and under contract of purchase pays to the Mobile
Lt. & KR 70 dti ni-aunual payments of $11.464.
Far , Li • ?it
Oct. 1 1922 the Ala. P. S. Comm. auth. the co. to
int:vets° eis'i fa-es from 7 cents to 8 cents; tickets from 6 cents to 7 cents,
and to in
trm el' 2 cents for transfers. Compare V. 115, p. 183.
STOCK AsID 110 sT DS- Date.
Interest. Outstanding. Maturity.
See text
$2.25.1.000
Stock $2.250,000 (par $100) 321,000 July I 1937
First claw° gold (31.000)_ntfl 1897
5g
o g ers
1893at Far mlsi-NLoan & Trust Co.. N. Y.
212.000 May 1 1923
Mobile Street RR rhea mtge-1 4'.
. Y., Trustee.
gold $300.000
c•ntf Farmers* Loan & Trust
Co.,dank, New York.
Interest at National City
1.076.000 Sept I 1941
Consolidated mortgage, gold 1901
5 g M-S
($1.000) 12.250.000 _ _cs tf Interest at New York Trust()o.. N. Y..True
Bonds.-uf the 52.250.000 mtge., $567,000 are reserved for prior liens,
$5.003 are iii tre is try. $399.000 are in trust fund and $79.000 have been
retired. $78.010 1st M. M. L. & RR. Co. bonds have been retired and
$1.099 ire in trots try. $3,000 M.S. RR. bonds are in treasury and $55,000
)I-• ir
ha
Fixed
Balance,
Net (after
Gross
Charges.
Surplus.
Taxes).
Calendar Year.
Earnings.
$84.352 def.$2.210
$967.757$82.143
1921
108.668
92.176
200.843
1920
1.121,341
divIdend-4%-Aug. 11909: in 1910. 4%;In 1911
in 1914. 3%;in 1915. 2%;in 1916.3%
247,in 1912. 11-i%. in 1913,
2%•'
in 1917 2%
In 1918, April, 1%; June. 1%; Aug., 3%. In 1919
Sept., 1%. In 1920, Sept., 1%. In 1921. 2%•
ROAD, &c.-Owns 60.86 miles of track in Mobile and extensions to
Magazine Point, Spring 11111 and Whistler.
-P. S. A. Wilson;
OFFICERS.-Pres. & Gen. Mgr., J. H. Wilson; V.
-V. 110, p. 1643;
Sec & Aud. Abner 0. Fay: Treas., F. B. Clements.
V 113, p. 1675; V. 114, p. 306; V. 115, p. 183, 1632. "
.
,
sae

•

MONMOUTH, ILL.

OALESBURO & WESTERN RR.
Wa, formerly known as the Rock Island Southern R. R.. but name was
chaeged to present title in 1919.
Receivership.-On Sept. 16 1919 Theodore M.Cox was appointed receiver
for the co. On March 18 1920 the property was sold at foreclosure to W.
S. ilenatuons. acting fur the bondholders' committee (see below) for $151.It Is reported that the road will be reorganized. V. 110. p. 1643.
000
Compare V. 110. v. 872. No later information.




75

ELECTRIC RAILWAYS

OCT., 19221

MONTOURSVILLE, PA.
-A trolley road.
MONTOURSVILLE PASSENGER RAILWAY.
Nr -Chartered in Pennsylvania June 28 1897. ComORO
menced operation.; Dec. le 1897. Owns all the stock of the Montoursville
Stock with. and issued. $75.000. Funded debt auth.
Electric 1.1.cnt .10
and laeued. SI 1.2.9100 5% 30 year gold bonds (tf) dated May 1 1908. int.
ooeratea
rn. or track from Williamsport to Montoursville. Pa.
M & g
EA.RNINrii -12 months ended Dec.31 1921 (railway department only).
net, after taxes, def., $567. In 1920, gross, $36,493; net,
gross. $33,952;
after taxes, $1,612.
-P.. F. C. Leonard
--tirtes.. 0. L. Peaslee, Williamsport; V.
1 01,2e
014
00ederaport; See. it Treas.. W. P. Beeber, Williamsport; Gen. Mgr.
B. A. Harris, IVIontoursville.-V. 91. p. 207. 1764; V. 95, p. 47.

MORRISTOWN, N. J.
MORRIS COUNTY MAC rioN.-An electric road.
-Incorporated In New Jersey in 1899. Charter
11
OW}
gives coinparly rlgtit of eminent domain. Built mostly on private right of
way. Franceites through towns are perpetual or for 35 years.
On Feb. 21 1913 the sr I. Pota.UtilityCointn. approved the plan to issue
$300,000 cap. •Ito,lit to retire the 13.000.000 existing stock (one new share
for ten old). and 11 174.0)0 bowie of an auth. $5.000.000. to be secured by
a mtge to the Safe Dee & Cr. Co. of Pittsburgh, as trustee; $3.000.000 for
refunding dIliii111( neivis and $1,179,000 for other indebtedness. V. 95, 1:1•
1746. 680. V 94. v. 553.
Anve-.-Tne co I fl Aug. 1920 sold its power house at Chatham. N. J..
for $18.0.10 aim is tiow receiving its power from the New Jersey Power &
Light Co . Morris & Somerset Electric Light Co.and Millburn Electric Co.
V.R14l P 5:il
ou,071, ri
-Interest on the $3.000.000 1st M. 5s having been
In default since Jute 1412 (except $28.875 paid on coupon No. 15, due in
Dec. 1912, the bilance, $16.12o, not having been paid), and no interest
having ever been paid on the $1,179.000 Gen. M. 5s, a 5-year agreement
datedJune In 1017 was entered into by the company and assenting bondholders, eder which (a) the $46,125 still unpaid on coupon No. 15, due
Dec. 1912. was 1)01 forthwith, (b) the fixed interest on the lst M. bonds
for the next five years (till arid including the coupon due June 1922) was
reduced to 2% per annum, with a further 3% if earned; (c) second mortgage bondholders surrendered their bonds to the Safe Deposit & Trust
Company of eittsbrirgh. to be canceled (along with the mortgage securing the saint)), and accepted In lieu thereof, $ for 16, gold income debenture bonds of $1,000 each, due June 16 1918, with int. not exceeding 5%
p. a., payable only as earned and declared by the board. The matured
coupons Not 16 to 21 (June 1913 to and incl. June 15 1917) on 1st M. bonds
were detached arid delivered to the depository in exchange for "certificates of ownership.- which shall entitle the holder to the return of the defaulted coupons (without waiver of any legal liability of the company
for the payinint of the same) upon termination of this agreement or whenever determined by the board. The company agrees to give the minority
bondholders representation upon its board of directors and, during the life
of this agreement. Alexander C. Robinson of Pittsburgh and Arthur E.
Pendergast of Prenton, N. J.. shall be two of the directors. For further
details see V 105 p 819.
Fares.-On Nov 28 1918 was auth. by N. J. P. U. Comm to increase
fares from 5 cents re 6 cents in each zone. Compare V. 107, p. 182. Effective April I 1020 was auth. by the N. J. P. U. Comm. to increase fares from
6 to 7 cents. V. 110. p. 1415. Compare V. 110. p.261.
In Dec. 1919 was auth. by the N. J. P. U. Comm. to issue $58,000 car
V 109. p. 23.57.
trust rents
In June 1922 was authorized by the New Jersey P. U. Comm. to issue
$1.600,000 mtge. bonds, $1,500,000 pref. stock and $1,179,000 common
stock. V. 115, p. 74.

76

ELECTRIC RAILWAYS

[VoL. 115.

111111.110=011111

s.
•

, OXFORD
W
A N .R.,.-< R
HARMONY
,)r-

MUNICIPALITIES SERVED
ltlunicipalities Population
Served
(1020 Census)

Electric
C.as
Railway
Total Number

197
166
146
226

E

N

.
, MANSFIELD/
,
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2,421,742
2,600,003

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77

ELECTRIC RAILWAYS

OCT., 1922.]

,'1.2..rildial11111111111
.

B an hope
Butkr 1%.
/ ROCKAWAY f
$
X
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$
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•
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MA.P OF

Electric Railway Line* -

BRICK

PUBLIC SERVICE CORPORATIA
OF NEW JERSEY
SCALE OF MILES
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10

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78

ELECTRIC RAILWAYS

STOCK AND BONDS—
Date.
Interest. Outstanding. Maturity
Stock common (see text)_
$300.000
First mortgage $3.000,0001 1905
5 g J-D 15 3,000,000 June 15 '35
($1,000) gold callable atUnt. at People's Say. & Trust Co., Pitts110 and interest_ „c*Scr.tf1 burgh, Trustee.
Income debenture bonds! 1917
5 g J-D
1,179,000 June 16,'48
lint, at Peon es Say. & Tr. Co.. Pitts., trustee
($100)
EARNINGS.—F or calendar year 1921, gross, $550.965; net, after taxes.
$107.787. In 1920. gross, $537.981; net, after taxes. $86.552.
ROAD.—Owns 44.01 miles road, 58.33 miles of track. Road is In operation from Maplewood to Danforth Road, Madison. 10.89 miles: Morristown to Lake Hopatcong. 21.81 miles
Branch lines. Springfield to Eliza
beth. 5.34 miles: Denville to Boonton, 4.90 miles. Dover to Wharton, I Ott
miles. The 2.69 miles et road between Danforth Road and Morristown
are owned by the Morris RR. and are operated under lease: also operates
under lease branch line Morris Plains to State Hospital, 1.36 miles. Total
road operated, 48.68 miles. Gauge, 4 ft. 83i in. 70-lb. T rail in country
80-lb. girder in cities.
OFFICERS.—Pres., Joseph K. Choate. New York: V.
-Ps., 0 1. Shan
non, Pittsburgh. Pa., and II. 0. Rea, Sec. & Treas.; 0. G. Schulz, Morristown; Gen. Mgr.. C 0 Weliiman.—V. 109. P. 2357; V. 110, p. 261. 1415.
V. 111. p. 588: Y. 115. P. 74.

[VOL. 115.

Dividends.—Under the lease to the Bay State St. Ry. dividends of 6%
a. a. were being paid, but payment due Jan. 1 1918 was defaulted—see
remarks above.
EARNINGS.—For cal. year 1919. gross, $131,691. For last 11 months
if 1918. gross. $110.240.
OFFICERS.—Pres., George A. Fernald, Boston; Treas., J. E. To s,
Nashua, N. H.—V. 106. D. 86. 607, 1036.

NASHVILLE, TENN.
TENNESSEE RAILWAY, LIGHT & POWER CO.
In June 1922 all the assets of the co. were sold to the Tennessee Electric
Power Co. (see below) in consideration of the payment or assumption of all
the co.'s debts and obligations. V. 114, p. 2117. For history of Tenn.
Ry., Lt. & Pow. Co. see "Electric Rv." Supplement of April 29 1922.
V. 114, p. 1892, 2117, 2242, 2360, 2580.

TENNESSEE ELECTRIC POWER CO.
ORGANIZATION.—Incorp. in May 1922 and in accordance with plan
outlined in V. 114, p. 1653. 2117, has acquired all the assets of the Tennessee By., Lt. & Power Co. (for history see' Eloctric Ry." Supplement of
April 21 1922) and now controls:
(a) Through direct ownership, property and rights of Chattanooga &
Tennessee River Power Co., embracing the Halos Bar hydro-electric
MOUNT HOLLY, N. J.
station, with an installed capacity of 50,000 h. p. on the Tennessee River,
and duplicate high tension steel tower transmission lines to Chattanooga.
BURLINGTON COUNTY TRANSIT CO.—Trolley.
(b) Through direct ownership, all the property and rights of the TenORGANIZATION.—Incorporated in New Jersey on July 1 1910, as nessee Power Co.. incl. 3 hydro-electric stations
with an aggregate installed
successor to the Burlington County By. Co. V. 90. p 1612. Stock autb capacity of 58,000 h. p., a steam station of 20,000 h. p.
capacity, and an
No bonds.
and issued 1120.000 ($5111
extensive system of transmission lines.
Fares.—On June 27 1921 was auth. to increase fares from 5 to 7 cents
(c) Through direct ownership, all the property and rights of the Chat7 each zone.
tanooga Ry. & Lt. Co., incl. an electric light and power distribution system
p EARNINGS.—For year ending Dec. 31 1921, gross. $81,939: net together with the city railway lines in Chattanooga.
(4) Over 99% of the entire issued and outstanding common stock, over
$1,743.
ROAD.—About 14 miles of track from Burlington through Mount Holly 41% of the outstanding pref. stock (which proportion it is expected will be
increased substantially), and $1,861,000 bonds of Nashville By.& Light Co.,
-lb. T rail. Gauge, 5 ft.
snd Hainesport to Moorestown. 60
which owns and operates without competition an electric light and power
OFFICERS.—Pres Albert Haines, v -P ionn
distribution system and electric railways in and around Nashville.
lohnson Jr.; Sec
Trans., Armitt H. Coate; Gen. Mgr., Maurice B. Comfort.
in addition the co. owns and has pledged under its 1st ref. mtge. the
following bonds of the above cos.:
Owned and
Outstanding. Pledged.
MUSKEGON, MICH.
Tennessee Power Co. 1st 55, 1962
$12,261,000 $10,005,000
MUSKEGON TRACTION & LIGHTING CO.
Chattanooga Ry. & Lt. 1st & ref. 5s, 1956
4.307,000
3,660,000
In Jan. 1906 almost the entire stock was acquired by the American Ligh
Chattanooga Rys. 1st cons. 5s, 1956
2,165,000
157,000
& Traction Co. V. 82. p. 49.
Lookout Mountain By. 1st 6s, 1956
381.000
389,000
ORGANIZATION.—Incorporated In Michigan on March 1 1901. and it Nashville By. & Lt. ref. & ext. 5s, 1958
4,694,500
1,861,000
a consolidation of the street railway, electric-light and gas companies of tist
Total owned and pledged
City. Franchises expire: gas. 1925: railway, Indeterminate
$16,072.000
The controlled properties serve practically the entire central ano eastern
Fares—Service.—On Aug. 20 1919 the co. resumed service after being
shut down for two weeks as a result of riots which followed an attempt to portions of Tennessee, extending nearly 200 miles from east to west and 100
Install a 7
-cent fare. The co. agreed to charge 6-eents for one month miles from north to south, with an estimated population of over 450.000.
(
)
.
The co_nsommation of the p_IT j81 the consolidation of these properties
pending ciec1sion of Mich. R. R. Commission. If at the expiration of 36
i t. &tite
tt ed
,
c
zaym at of 7iProx..32,511NVuri wf obligations af he
coenn a. 1,56
of atur
thlco.N 1( 13.c(p o oceni s anA lisze permitted ,
rendered,rge
oblgoti
;vas
illetit,j
t eco n
i
geir ncrjectr?
u
li
d
t
obligations of the
extrab
on Oct. 2 1919 the company raised its fares to 7 cents. V. 109. p 1700. subsidiary properties.
Suits Against Merger.—Two suits have been filed alleging that the recent
In Aug. 1920 cash fares were raised to 10 cents.
Buses Ousted.—On Dec. 14 1921 the citizens voted to retain the street consolidation was in violation of the State's Anti-Trust Law, V. 115,
injunction was obtained but this has been
car system rather than jitney bus service. V. 113, p. 2721. Compare p. 309, 989. A temporaryto
modified to permit the co.
perform Its corporate business until a final
V.113, p. 2406.
decree has been rendered. V. 115, p. 1430.
New Franchise Proposals.—See V. 113, p. 2819.
The Tennessee Electric Power Co. upon completion of the plan will be
Increase in Gas Rate.—In March 1920 the co. was granted a temporary capitalized approx. as
follows:
rate increase to $1.40 per 1.000 cu. ft. V. 110. p. 1290.
STOCK AND BONDS—
Date,
Interest. Outstanding. Maturity.
Interest. (haSillwling. Maturity
Date.
STOCK AND BONDS—
Com 156,442 shares (no par)_
156.442 stns.
__ _ _
$600.000
Stock $600,000 MOO)
1st pref 7% cum ($100)______
7 Q-J
$6,090,000 Oct'22 1 74%
Preferred $100.000 6% elms-lee ____ t
63.(S10
6
1st pref
cum ($100)
6%
x3,283,800 Oct'22 13i%
First mortgage $600,000 gold( 1901
5 g M-S
600.000 Mar 1 193) 2d pt $6 6% yr n-corn (no par)_
per
50,000 sta.
($1,000)
tf( Interest at Wyoming Valley Trust 0o. 1st & ref mtge ser "A" ($500) 1922
6 g J-D 16.965.100 June 1 1947
Callable at 105
1 Wilkes-Barre, Pa. Trustee.
& $1,000) gold_ __c*&r*tff Int. at National City Bank, N. Y., Trustee.
Dividends.—On preferred stock 6% yearly from 1902
to date.
x
ROAD.—Owns 18 miles of road and serves as a terminal for the Grand villeExcl. $1.458,800 reserved for exchange for a like amount of NashRy. & Lt. Co. 5% pref. stock.
Rapids Grand Haven & Muskegon By.. which (teemses to miles of track
Stock.—The 1st pref. 7% stock is red, as a whole but not in part on any
between points Indicated in the title. (See V. 113. p. 167.5.)
date on
OFFIC1ERS.—Pree., Geo. Steinwedell; V.
-P., J. Q. Ross Sec. & Treas., div.)f equal 60 days' notice at 110 and divs. Both classes of 1st pref, stock
E. J. Hammer; Asst Sec. & Asst. Treas., C. N. Jeliffe. Aud., James Law- aredivs. not rank and divs. are cum. 2d pref. is non-cum. and is entitled
exceeding $6 per annum as declared.
rence; Gen. Supt.. Walter Eyke.—V. 109, p. 1700: V. 110, p. 1290. V. 111, to Bonds.—The
1st & ref. mtge. 6s, ser."A," are secured by pledge of $10,p.•2041; V. 112. p. 1399: V. 113. p. 1675, 2406, 2721, 2819.
005,000 Tennessee Pow. Co. 1st 5s; $3,660,000 Chatt. By. & Lt. 1st & ref.
5s; 3157,000 Chattanooga Rys. 1st cons. 5s: 3389,000 Lookout Mt. By. 1st
6s, and $1,851,000 Nash. Ry. & Lt. ref. & ext. 5s. Are red., all or part,
MUSKOGEE, OKLA.
on any int. date upon 30 days' notice at 10735 on or before June 1 1932: at
,
103 from Dec. 1 1932 to Juno 1 1942, incl.. and thereafter at par, plus a
MUSKOGEE ELECTRIC TRACTION CO.—A trolley road.
premium of 1% for each whole year bewteen date of redemption and
ORGANIZATION.—Incorporated in 1904 in Indian Territory
In Oct. maturity. Sinking
fund commences March 1 1923. Penna. 4 mills tax
1912 acquired the People's Electric By.. which was merged Into this prop
erty, and issued 3600.000 new let M. bonds to refund an earlier Wile of refunded. V. 114, p. 2471.
Dividends.—An initial div. of 14% was paid Oct. 1922 on 7% pref.
Sloo Om addi$450,000 and in part payment for the People's Elec By
stock. An initial div. of 115% was paid Oct. 1922 on 6% preferred.
,
tional bonds will be issued in final payment when annual net earnings art
interest charges on bonds out, including these $200.000. FranPROPERTY.—The electric generating stations of the system have an
twice the
Installed capacity equal to 157,000 h. p., of which 108,000 h. p. is in water
chises are unlimited as to time.
power plants, the most important being the Hales Bar station with a caRight of Purchase by(AV.—The city has the right to purchase all the corn
pany's property within city limits; in 19:34 and at the end of every I5-yeat pacity of 50,000 h. p.—V. 114, p. 1652, 2171; V. 115. p. 309, 546, 760.
period thereafter, at a price determinable by arbitration but In case of 870, 989. 1211, 1322, 1430.
such purchase the bonds must be either paid off or assumed by the city
.1, N.14.hviii, Railway & Light Co.—Street railway and lighting system
and in the latter event the company must be allowed to operate its cars Over 99% of the com. and over 41% (expected to be increased) of the
from suburban or interurban points to the centre of the city oo a rental pref. stock is owned by Tennessee Electric Power Co. $1,861,000 ref. &
basis. See V. 95. P. 1331.
ext. 5s are also held by Tennessee Electric Power Co.
Has favorable long-time power contract with the MUSILOQ130(lax & El. Co.
OKuANIZATION.—Incorporated in l'enuessee on June 26 1903. Is
Fare Increase.—Effective Sept. 9 1920, fares were increased to 8 cents. reorganization of the /*redly' le Railway Co.. sold under foreclosure of the
tickets to be sold at 2 for 15 cents. V. 111. p. 1183.
letter's first consul. mtge. The Nashville ity was a consolidation in 1990
Interest. Outstanding. Maturity, if the Nashville Street Railway, the Nashville & Suburban and the CitlDale.
STOOK AND BONDS—
tens' Rapid Transit. The Nashville By. & Light Co has absorbed the
8500 000 See text
------Q-M
Stock $500.000 ($100)
600.000 May 1 1934 Cumberland Electric Light & Power. Does practically all the street railFirst mtge $5,000,000 sinkingl 1912 5 g MN
way and commercial lighting and power business In Nashville. Franchises
Equitable Tr. Co.. N. Y., Trustee
cofInt. at
fund gold ($1.000)
perpetual; those covering the principal railway lines contain a provision
Remaining bonds may be issued for additions and betterments at 80% Ch'ing the city the right to porcha:e after 1923
Of cost, with certain restrictions. Subject to call as a whole, or In part. at
Valuation—Rate of Return, &c.—En Jan. 1921 the Penn. P. U Comm.
105 and int. on any int. day on 3 weeks" notice. Semi-annual sinking fund fixed the valuation of the co.'s property at $13.200.000 and agrted to apow
,
6
began Jan. 1 1914 of; of 1% of all bonds outstanding. V 95 p 1331.
the co. a minimum return of 6% and a maximum of
% upon this
-1908. 5%; 1909, 6%; 1910 to 1912. Inclusive, 8%.
Dividends.
valuation. For further detailssee V.112, p.162. Compare V.111, p.I852
Fares.—EffectIve Mar. 8 1920 was with. by Tenn. P. U. Comm. to in.
EARNINGS,—For year ending Dec. 31 1920. gross, S228,363: net,
crease fares to 7 cents cash with 4 tickets for 25 cents. V. 110, p. 1290.
871.3:18; other Inc.. $8.328; bond int.& taxes,$39,725; bal., sur., 539.911.
,o m OliA10.0 ...$100) Date. Interest. 0utstandiflc s0pt
tiTgons4 0D0 0
34.0 0.ooo
0
BONDS—
ROAD.—Operates city lines. 16.13 miles, and interurnan and suouroan
B
0
M
Standard gauge. 70 and 60-lb T rail. 17 pass. cars
15.13; total. 31.26.
2.500.0(10
SOO text
(of which 34 pre-payment); 2 misc. cars and 1 elec. locomotive. Also owns Pref 0% cum $2,500.0004100) sss(44
Mi."0 & Mt V Horse REt lstMl 1880 6 J-J
65.000 July 1 11126
an amusement park on Arkansas River about 5 miles from aliontogee.
($100. $.500 & $1,010)„cotfINashville Tr. Co.. Nashville. Tenn., Trustee.
-P., W. S. Benson; Sec., Treas. &
OFFICERS.—Pres., R. D. Benson; V.
Second series ($1.000)_cntf1 1887
485.000 July 1 1937
6 J-J
V. 113, p. 1156.
Local Mgr., W. M. Cutlip.—V. 111, p. 1183:
5 g .-C
Igsh
llisra95ville TrJ jo., Nashvine, Tenn., Trust.
;Sashville St By let mortgage
907,000 Jan 1 1925
(closed) g (31.000)--c*ntf(Nashville Trust Co., Nashville. Tenn.. True.
gashv By & Lt consol M Fl 1903
NASHUA, N. H.
3.789,000 July 1 1953
5 g J-J
(clos) ($1.000)
5 Guaranty Trust Co.. N Y..Trus.
ed
io est at gj-j
NASHUA STREET RAILWAY.—Trolley.
Nash By & Lt ref & ext m
2,8:13,500 July 1 1958
mtge 1908
e
FOROANIZATION.—Incorp. Aug. 14 1885. Owns and operates 16.14
95 00 .2 1d MOO
1 .0000 00
. ) 0
and3Int. at Guaranty Trust Co.. N. Y.. Trustee,
Suburban
cstfl or at Nashville Trust Co.. Nashville.
miles of main track. On July 1 1900 was leased to the Lowell & appointed
The receiver
&Ms.—Int.on both series of McGavock & Mt. Vernon Horse It Ft bonds
for 99 years (succeeded by Bay State Street Ry.).
State St. Ry. terminated the lease and turned
In Dec. 1917 for the Bay stockholders. In April 1920 we were informed is payable at Fourth & First Nat. Bank, Nashville. and N. Y fiscal agent.
The Nashville Ry. & Lt. consols of 1903 are subj. to call on any int date on
property back to the
the
againct the Bay State Street By. 30 days' notice at 10734 and int. Sinking fund $30,000 per annum. comthat a settlement of the Company's claim
e...need June 30 1913 but only If company has a surplus above charges and
information.
for damages was pending. No further
auth. an increase In fares div. on pref, stock; bonds to be kept alive in sinking fund. $321,000 not
It Fares —In Aug. 1917 the N. H. P. S. Comm. 1 1919, fares were raised incl. in amount outstanding held in sink. fund. Nashville St. Ry, bonds of
company's lines to 6 cents. Effective July
on the
10 cents cash. 1895 payable at Mechanics' Nat. Bank, N. Y. Of the ref. 84 ext. bonds,
to 7 cents. Effective April 1 1920, fares were raised to
$3,255,000 are reserved for prior liens and remainder may be issued at rate
of 81,000 for each $1,250 expended for future impts. & equipts., not over
tokens 7 cents. V. 110, p. 1973.
authorized an issue of $65,000 7% pref $700.000 to be issued
In Oct. 1919 the stockholders
in any calendar year and subject to certain othsr
sinking fund stock.
conditions. Bonds can not be called. $1.861,000 are owned by the
Outstanding. Inv & Mat. Tennessee Electric Power Co. and pledged under that co.'s 1st & ref. mtge.
Interest.
Date.
STOCK, BONDS.&O.—
$325,000 See text
ser. "A" 6% bonds. $106,000 not incl. in amount reported outst LadStock. $325,000 (par 5100)--150.000
t 1 1931 ing are held in sinic fund and $1,090.500 in Me treasury. 8,nk. fund of
4 g A-0
First mortgage. $150,000.1 1901
cs tf lint. at Old Colony Tr. Co.. Boston Trustee. 34 of 1% of outstanding bonds began July 1 1918, bonds in sink, fund b./lag
($1.000). gold
kept alive. See particulars of bonds, property, dm., in V. 87, P. 272
Bonds.—Entire issue may be called at 105 and accrued interest.

iggo




ELECTRIC RAILWAYS

Om., 1922.]

-The first div. on pref. stock-2Se %-was paid Jan. 1 1905.
Dividends.
then 2 se % semi-annually to July 1910 in Oet lel() changed to quarterly
incl. Jan. 1920. None to
and paid 1 3(%, and same amount quer. to and all back dies. V. 115, p.
was paid, clearing up
Sept. 1922. when 134
is a owned by Tennessee Electric Power Co.
1533. Corn, stock
-Years ending June 30:
EARNINGS.
Interest, Pref. Divs. Balance,
Net (after
Gross
Surplus.
5%.
&c.
Taxes).
r' YearEarnings.
$995,128 $449,223 4125,000 $421,305
$3,975.128
1921-22
83,519
468,280 x125,000
676.799
3,743,143
1920-21
x Pref. dive while deducted. was not paid.
pass. carried io cal year (921 ageinst 35.350 772 in 1920.
34.221.415
-Operates 102 miles of single track. Has 203 passenget
PROPERTY.
and 15 work cars. Hydro-electric power is obtained on advantageous
terms from the Tennessee Power Co.. which operates this company's steam
plants of 15.000 k. w. capacity as reserve
B. 0. Edgar.
OFFICERS.-Pres.. C. M. Clark; V.-P. & Gen.
Mgr..
Sec. & Tres., G. L. Estabrook.-V. 111, p. 1370, 1852: V. 112, p. 162,
2537; V. 113, p. 293; V. 114, p. 1180, 1534, 1654; V. 115, p. 1533.

,
ri

79

Nashville, Chattanooga, Knoxville, Murfreesboro, Cleveland, Athens,
1Ctowah, Sweetwater, Lenoir City, Loudon, Franklin and Sparta, Tenn.,
mid Rome and Dalton, Ga. Has contract for large block of power with the
aluminum Co.of America at Marysville: also has contract with the American Zinc Co. at Mascot. K. IV. hours generaied in 1921, 342,918,926 (all
water power), against 428,649.835 (of which 98.4% water power and 1.6%
steam) in 1920.
-Ps., G. E. Hardy and B. C. Edgar:
OFFICERS.-Pres., C. M.Clark; V.
Sec. & Treas., G. L. Estabrook. Under management of E. W. Clark & Co.
Management Corp.. Phila.-V. 10S. a. 1941: V 110 p. 2199; V. 112.
p. 2544; V. 114, p. 1543, 1661, 2479; V. 115. p. 317, 1108, 1642.

UNION TRACTION CO.
ORGANIZATION.-Incorp. in Tennessee on Oct. 12 1917 as successoi
to the Nashville-Gallatin Interurban Ry., sold at foreclosure Sept. 25 1917.
Interest. Outstanding, Maturity.
STOOK AND BONDS.- Date.
Stock $300,000 ($100)_
$300.000
Wiest M ($300,000) gold f 1917
6e J-D
300,000 Dec 1 1947
c*Scr.cptINashville Trust Co.. Trustee.
($500).
Bonds.
-Are callable on any Interest date at 105.
(2) Chsttanooga Railway & Light Co.
EARNINGS.
-For 12 months ending Dec. 31:
Net,
T
Interest, Balance for
Tennessee Electric Power Co. owns all of the $3,000.000 common and
Taxes.
&c.
Depr.,&c.
Gross.
22,000.000 pref. stock, and $3,653,000 Ceett. Ry. & Lt. 1st & ref. 5s,
12.867
117.592
1921
$173,616
9
$36,563
$18:39715
1956 and $157,000 Ohatt. Rys. 1st coas. 5s, 1956.
-See V. 115, p. 72.
32,182
Receivership Terminated.
157,765
1920
ORGANIZA 1"1.011.-lncorporatai to reuueesee on July 29 1909 as a
ROAD.
-Operates 27.05 miles of track between Nashville and Gallatin.
oonsolidation of the Chattanooga Railways Co. and Chattanooga Electrit entering Nashville over tracks of Nashville Ry. & Light Co. (4.4 miles).
T rails. Standard gauge.
Co.. per plan V. 88, p. 1497. V. 89 p 285. Own. entire capital stock of
Lookout Mountain Ry. Co. Does practically all the street railway. elecOFFICERS.-Pres., John A. Bell; Sec., L C. Connell: Treas., Guilford
tric light and power business in Chettanooga and vicinity. incl. the electric Dudley; Gen. Mgr., A. J. Anderson.
-V. 105, p. 1618, 1709.
euburban lines run to Missionlines up and on top of Lookout Moantein
ary Ridge, Chickamauga Park and Lookout Mountain. Franchises, with
NASHVILLE TRACTION CO.
without limit of time, and believed to be perpetual (but
minor exceptions,
This company late in 1914 Increased its authorized capital from $500.000
see V 110. n 653).
to $1.000,000 and is constructing a trolley line in Nashville. 41e miles
In May 1922 was auth. by Tenn. P. U. Comm. to issue $682,000 bonds. quilt, 2 miles In operation. 3 leased cars In service. In April 1915 It was
V. 114, p. 2467.
Detroit interests had sold their control. V. 100. D. 1349.
Fures.-1u Feb. 1920 the Tenn. P. U. Conan. auth. the co. to charge a reported that the
-P., W. H. SawOFFICERS.-Pres., Walter 0. Palmer, Nashville; V.
7-cent fare and ordered impts. necessary to furnish safe and adequate car
W. Clark Mgt. Corp.), Columbus, 0.; Gen. Mgr., G. B. Howard.
rer (E.
service made. V. 110, p. 658.
Interest. Outstanding. Maturity • Vashville.-V. 99. p. 1366; V. 100. p. 1349.
Date.
STOCK AND BONDS13.000.000
Common 13.000.000(V 001_ _ -_- -__
2,000,000
Q-J
Pref $2 000.000 5% cum($100j ___
617.000 May 1 1956
NATCHEZ, MISS.
5 g al •N
First and refunding mortgage, 19119
,5
$15.000,000g (11 .00111 . tf Int. at Fidelity Trust Co., Phila.. Trustee
SOUTHERN RAILWAY & LIGHT CO.
2.003.000 May 1 1956
5 4 Vi N
Chatt Rye Let cons mtge, see 1906
Thls co. having abandoned street railway service in Natchez on April 5
text($500& $1,001), g_c•tt Int. at Coin•nerche Tr Co. Phila.,Trust
1920, we have eliminated the statement from this section. For last stateStock.-Pref. shares equally with corn lifter corn. has received 5%.
ment published see "Electric Railway" Supplement of April 24 1920.
Chattanooga Rye. mtge. has been closed; call-The $3,000,000
Bonds.
Ole any int. date at 107 and int. on 3 mos.' notice. $157,000 (not incl.
In amt. outstanding) are owned by Tennessee Electric Power Co. and
NEWARK, N. J.
t anc t edr
.he ispl& gef.
s y renriem ee ec
ara owjjedlt & ref sstgeEsori;
onsl 3 o
tre selgeNsnti;thet co'
-Street
PUBLIC SERVICE CORPORATION OF NEW JERSEY.
.
c P6aY er
lA. os: Wo
1
-(See map on pages 76 and 77.)
by that co. under its 1st & ref mtge. 6% breads, series "A." No sinking. ailway, gas and electric.
fund; callable at 105 and int. on any int. d tte on 60 days' notice. Int.
-Incorporated in New Jersey on May 6 1903 and
ORGANIZATION.
payable at Hodenpyl, Hardy & Co. and at office of trustee. V. 89, re 846. rontrols, through ownership of stock. Public Service By. 0o.. Public
eervice Gas Co., Public Service Elec. Co., Orange & Passaic Valley /Sy. Co.
-12 months Dec 31:
• EARNINGS.
Interest, Surplus sad United Elec. Co. of N. J. The stockholders of the two cos. last named
Net
Rip. &
Gross
or Deficit. and also the stockholders of certain of the cos. out of which Public Service
.
c
&
Taxes. Earnings.
Earnings.
$1,385,288 1852.361 1532.927 $262,263 $270.664 By. Co. was subsequently formed (namely North Jersey Street By. (Jo..
1921
253,952 207,910 Jersey City Eloboken & Paterson St. Ely Co. and Elizabeth Plainfield &
461.862
1,327.9 I0 866.048
1920
()antral Jersey By. (Jo.) were given certificate.; described below It; exch.
• Light and Power Department only.
for their stock. See nlan in V 76 ro 865 and a.len o 1249. The Fidelity
-Including Lookout Mountain Ely., operates 80 miles of Union Trust Co. of Newark financed the transaction.
ROAD.
single track. Gauge, 4 ft. 8t4 in. T and girder rails. 84 motor, 12
Controls practically the entire street railway 'easiness of Northern New
trailers, 2 incline cable and 8 work cars. Power is obtained from the Ten- Jersey and the gas and lighting interests of the greater part of New Jersey.
nessee Power Co.. which operates this company's steam power stations Also owns entire meltei stock of Middlesex Electric Light & l'ower Co.,
of 5.000 k.w. capacity as a reserve station.
Morristown Gas Light Cm.(V.91, p. 95), Nichols Elec. Light & Power Co.of
OFFICERS.-Pres..0. M.Clark; V.-i's., H L. Clark and B. 0. Edgar; Nutley, N. J.; Citizens' Elec. Light, Freat & Power (Jo. (l'erth AmboySec. & Treas.. G. L. Estabrook kel Aee tr x,;•rt. Troa4., C. Wright and N. J.), Burlington Elec. Light & Power Co., Public Service RR. and Wee
-V. 111, jp. 1277. 1565, 1851: V. 112, p. 2413. 2536; V. hawken Contracting Co.: a majority of stock of Princeton Light. Heat &
W. L. Lamont.
114, p. 1062, 1532, 1650, 2467. 2578; V. 115. p. 72.
Power Co. and Shore Lighting Co. and practically all of the common stock
of New Jersey & Hudson River By. & Ferry Co.
Merger of Subsidiaries.
-In 1907 North Jersey Street Ry. Co.. Jersey
(a) Lookout Mountain Railway Co.
-Owns electric due on top of Lookout Mountain City Hoboken & Paterson Street fly. Co. and United Street By. Co. of
ORGANIZATION.
sand, through stock ownership, coritrols the Lootcout Incline Co. (whose Central Jersey were consolidated under the name of Public Service By. Co.,
stock and bonds are deposited Lauder the company's mortgage). Stock which see below. V. 85. p. 406 and 470. To Public Service Ry. Co. also
all owned by the Chattanooga Railway & Light Co. Private right-of-way have been transferred the leases of various railways formerly held by Public
Service Corporation. On Dec. 28 1915 the merger of the Public Service
except short piece of track on which franchise expires in 1926.
Ry. and the P. S. Newark Terminal Fly. was muffled.
interest. Outstanding. Maturity
STOCK AND BONDS- Date.
In Oct. 1909 all leasehold interest in gas properties and all rights under
1500.000
Stock ($500,000)
operating agreement with Plainfield Gas Light (Jo. were assigned to the
389.000 May 1 195e Public Service Gas co. which see below: ako V 89. p 594 721, 847.
5 g M-N
let mtge 12,000.000 ($1.000)), 1913
c•tflPhiladelphia Trust Co., Phila., Trustee.
bigold
In July 1910 all leasehold interest in electric light and power properties
were assigned to the Public Service Electric Co. V. 90. p. 1614.
-Lookout Mtn. Ry. bonds are red at 105 and int, on any int
Bonds.
s
Newark Terminal.-See Public Service Ky. below.
date on 60 days' notice II Al 1.0(10 eseeeve,s re.. entire , Sze . at 85oe of
In Feb. 1922 the Public Service Production Co. was organized. The
cost of same. Bonds outstanding are owned by Tennessee Electric Power
Co. and are pledged under that co.'s 1st & ref mtge ser "A"6s. Interest Public Service Corp. owns all the outstanding corn. stock. V. 114, p. 627.
payable at offices of E. W. Clark & Co., Phila. and Hodenpyl, Hardy &
Fare Increases, &c.
-See Public Service Railway below.
Co., New York.
Stock Increase.
-On July 26 1916 :such. capital stock was increased from
Shareholders of record Oct. 2 1916 had the
$25.000.000 to
-Included in Chattanooga Ky. & Light Co. earnings.
EARNINGS.
V. 103.
$50,000,000.
-Operates a cable road of 5.000 feet and has 9.8 miles of electric right to beoscribe for $5,000.000 of the new stock pro rata at par.
ROAD.
p. 1119 2239.
on top of mountain.
road around and
-On Jan. 27 1919 the directors auth. the creation of an issue
Financing.
-P., M S. Hopkins; Sec.& Treas. of 8% cum. pref. stock to the authorized amount of $50.000.000.
OFFICERS.-Pres..0. M Clark. V.
-V.83, p. 323; V. 87. p. 226.
.
-year secured 7%
G. L. Estabrook: Gen. Mgr.. F. W. Hoover.
In Dec. 1921 the company brought out $10,000,000 20
bonds, proceeds, together with cash from treasury, being used to pay off
(S) Tennessee Power Co.
-year notes due March 11922. V. 113. p. 2506.
$12.500,000 7% 3
by Tennessee Electric Power Co.
Stock all owned
Stockholders of record on April 21 1922 were offered the right to subscribe
ORGAN IZATION.--Incorp. In Tennessee eu epril 24 1912 as a consoli- at $100 a share for 8% corn. nref. stock to the extent of 20% of the r holddation of the Eastern Tennessee Power Co. arid Great Falls Power Co. ings. V. 114. p. 1652. In June 1922 $4,000,000 additional 8% preferred
has also acquired the property formerly belonging to Sweetwater Elec. Lt. stock was brought out. V. 114. p. 2718.
Co.,Cleveland (Tenn.)El. Lt. Co..Sparta Elec Light & Power Co. and A.
sTooK AN1) BONDS- Date. Interest. Outstanding Maturity.
& T. Power Co. Franchises.
-The co 's power plants are owned In fee
See text
Q-M 30 230,000,000
and its transmission lines are on private right of way and therefore not Stock corn $50,000.000 ($100)_
Pref8% cum $50,000.000(3100) -„, 8 Q-M x18.411.500 Sept.'22.2%
subject to franchise limitations.
Franchises of distribution companies rrust certificates $20.200.0001 1903 6 M-N *20.0i9,f180
Perpetual
are favorable
ntfl Fidelity Union Trust Co.. Newark Trustee.
In May 1922 the Tenn. P. U. Comm. auth the co. to issue $701.000
5 g A-0 50,000.000
Oct
1909
bonds. V. 114, p. 2479. In Autc. 1922 the Tenn RR. & P. U. Comm. General mortgage$50.000.000{Int. at Fidelity Union Tr Co.. Newark 1 1959
Trust,
cstif
gold ($1,000) e f
auth. the co. tee issue $250,000 bonds to cover p trt of the purchase price
or at office of J. P. Morgan & Co.
of a transmission line, 21 miles long, from Maryville to Knoxville, Tenn. 20
-year sec bonds $10,000,0001 1921
10.000.000 Dec 1 1941
7 g J-D
V. 115, D. 1108.
(S100.5500 & $1.000 c* and iFidelity Trust Co., Philadelphia, trustee.
-See V. 115, p. 317.
eeRate Decision.
31,000.15.000 & $10,000r*)
STOCK AND BONDS- Date.
Interest. Outstanding. Maturity.
gold
tf
-All owned by Tenn. Elec. Power Co.
Stock $20.000,000 ($100)
*Of which $869,615 owned by the Corporation. x Includes $2,077,800
$2,256,000 May 1 1962
5 g M-N
First mtge. $50,000,000 gold 1912
subscribed for on the installment plan and not fully paid. V. 114, p. 1064.
guar. p. & I. ($1,000)_c*ntf f Int. at 13 tracers Trust Co.. N. Y.. Trustee.
Stock.
-Both the pref. and corn, stocks are listed on New York Stock
-Of the remaining bonds, $10,005,037 are owned by the Tennessee Exchange. Pref. stock has full voting powers and is pref, as to assets and
Bonds.
that co 's 1st & ref. mtge. 6s,
Electric Power On. and are please...1
par ann of bo ids out. beesn May 1 1917: to dividends. Redeemable on 30 days' notice at 110 and accrued dividends.
ger."A." Sinking fund, 1%
-The trust certifs. bore 2% Int. tdating from June 1 1903) one first
Bonds.
be used for extraordinary reaew Os, replace ran its or additions, enlargements
and exteasioas; also for cancelistioa of bo iii. $35,030 in sinking fund. two years,2% the third year. and increased by Si% each following year
Red. in whole or in Part at 1074 and int o 12 weeees' notice. See V. 95, until 6% was reached in the tenth year, which is the rate now paid. See
V. 80. p. 164. The following shows the terms upon which the stocks of the
also trustee.
P. 549. F. N. B. Close, N. Y., is
constituent companies were exchanged for the trust certificates. The
ending IDec. 31
EARNINGS. For years 192o
stocks acquired are pledged as security for the trust certificates.
1920.
1921.
1921.
New Total Ctfs.,
607 $2.458,830 lint. (less portion
Gross earning42,405,
ch'gle to cap'
Total
Total
Certifi- If AU Stock
-).$635,193 $636,602
Experents,tax 1,468,988 1,537,088
Stock.
Deposited. cafes. Exchanged.
$15.000.000 314.994.400 40% 36.000.000
$301,426 $285,140 *North Jersey Street By
$936,619 3921,7421 Surplus
Net
City Hoboken & Pat
-Owns water-power sites on the Ocoee River near *Jersey Street RY
PROPERTY. &O.
20.000.000 19,984.600 35%
arson
7.000.000
Parksville. Tenn.. with an ultimate capacity of 80,000 h. p. Option has 'Elisabeth Plainfield & Cenp. additional,
at
been secured on sites for the development of 50.000 h. 80,000 h. p. andthe
3.000.000
tral Jersey By. Co
3.000.000 30%
900.000
Of
capable of developing
Great Falls, Tenn., owns a site
925,500 30%
Orange & Passaic Val. By.Co- 1.000.000
300.000
development in operation. Ocoee No. 1. 18.750 k. w., was put in operation United Electric Co
20.000.000 19,732.200 30%
6.000.000
15,000 k. w., in complete operation April 1 1914.
Jan. 1912 and No. 2,
Total
was placed in operation in July
$20.300.000
A 15.000 k.w. steam plant at Parkesville
at, Great Falls placed
• Now merged in Public Service Railway Co.. which see below.
and Nov. 1916, and a 10,000k. w. hydro-electric plant plant at Sparta; total
the stocks pledged shall not be used so as to
The trust deed provides
hydro-elec.
In oper. Jan. 15 1917;also owns a 300 k. w.purchased from Chattanooga & increase the capital stock that
of any of the companies nor
capacity. 59,050 k. w. Power is also495 miles and leases 16 miles high- liens upon the respective companies except to take up to create any new
existing debt of any
Tennessee River Power Co. Also owns
tension transmission lines. Supplies practically all electric current used in such company or of underlying or subsidiary companies.




80

ELECTRIC RAILWAYS

$50.000.000 Afortonoe.--or the $50,000.000 bonds reported outstanding
23,558,000 have been purchased by the sinking fund, $14,000,000 are deposited as collateral to the 20
-year secured bonds due Dec. 1 1941. For
security of general mortgage bonds see V. 89, p. 1318: V. 90, p. 698. Redeemable as a whole (but not in part) on any interest date since Oct. 1
1919 at 103 and interest. Commencing Aug. 1 1913, an annual sinking
fund payment of $209.500 draws bonds at 105 and int. Bonds are listed
on New York and PhIladelphia Stock Exchanges. V. 91, p. 717: V. 92, p.
1179; V. 93, p. 1191; V. 109, p. 982. 1700; V. 113, p. 1575; V. 114, p. 2360.
-The 20
Notes.
-year secured bonds of 1921 are secured by a pledge of
$14,000,000 Public Service Corp. Gen. Mtge. 5% bonds and $5.000,000
capital stock of the Public Service Electric Co. Red. on any int. date, all
or in part, on 60 days' notice, at 1071.6 on or before Dec. 1 1926. and thereafter at 1i% premium for each year, or any part thereof, of unexpired ilfe,
In each case with Interest. Red. for sinking fund purposes at the same
dates and prices. Sinking fund of $200,000 per annum payable in semiannual Installments, began June 1
Interest payable in New York
and Philadelphia. Pennsylvania 4-mill tax refunded-. V. 113, p. 2506.
1922.
Diridends.-An initial monthly div. of 2-3 of 1% was paid on the pref
stock on Mar. 31 1919. In June 1919 2% was paid and same rate has been
paid regularly quarterly since to and incl. Sept.. 1922. On corn., first
div. of 1% was paid June 29, 1907: 1% was paid Sept. 30 1907 and 1%
Dec. 31 1907. In 1908, 4%. In 1909. .0.5%. In 1910, 5%. In 1911
to 1914, 6%. In 1915, 6%. In 1916. 7U%. In 1917, 8%. In 1918.
6%. V. 107. p. 1385. 2377. In 1919. March, 1)%; June, 13.%; Sept..
1L-S71) e. 1 019 lie ais4ed
a‘to V
00 n )157.) In 192° t'..
7
In 1921,4%. In 1922, Mare.h, 13-6%; June. 1 %; Sept., 13.6%. V.114,
p. 1288.
REPORT.
-For calendar year 1921. report in V. 114, p. 1280, 1304.
Gross Earnings1921.
1920.
1919.
1918.
Railway company
$27.518,250 $27 990.696 $24,212 025 $20,901,063
Gas company
23,560.675 20.908.069 15 078 590 14.823.424
Electric company
24.470.842 23.660 578 20.190.376 17.745 869
Total gross earnings__ _375,549,767 $72.559.343 $59,480,991 $53.470 356
Oper. expenses Sr taxes_ _$51,769.628 152,360 894 $40,821.282 $33.824.826
Amortization charges...._ 4.893.957
3.237.529
2.803.808
3.113.558
Total expenses
156,663.584 $55.598.423 143,625.090 $36 938.384
Net earnings
$18.886,181 $16,960,920 $15,855.901 $16,531,972
P. S. Corp. of N. J. incl.
from securities pledged
and from misc. sources 1.859.057
1.859.106
1.952.883
1.891.667
Total income
$20,745,238 $18,820,026 $17.808.784 218,423.640
DeductInt. Sz rentals of leased &
controlled companies_$12.856.151 $12.324.889 $12.443.377 $12.320,529
Fixed chgs. P. S. Corp
4.294,458
4.276.729
4.351 506
4.282.680
Of her deductions
Dr.107.986
Cr.18.657 Dr.406,537 Cr.841 866
Divs.P.S.Corp.com.st k.
(4)1.999 984 (4)1.199 984(4 H)1341982(8)1.799.976
Divs.P.S.Corp.pref.stk.(8%)852.968 (8)804.779(62-3)669771
Balance. surplus
$633,691
$232,400df$1.412.389
$862.321
OFFICERS.-Pres., Thos. N. McCarter; V -Ps., Randal Morgan, Anthrew R
yoeng 8 W Witcalaa• sPV. P rev (twang
Treas., T. W. Van Middlesworth; Comp., Wm.S. Barker.
-V. 113, p. 1675.
2080, 2313, 2505: V. 114, p. 411, 627. 1031, 1181. 1280. 1288, 1304, 1652,
2013, 2242. 2360, 2718; V. 115, p. 760, 1211, 1321. 1838.
PUBLIC SERVICE ELECTRIC CO.
Controlled'by Public Service Corp. by ownership of entire capital stock
except directors' shares.
ORGANIZATION.-Incorporated in New Jersey on June 13 1910.
Leases.
-In July 1910 Public Service Corp. assigned to Public Service
Electric Co. the leases of United Elec Co. of N. J.. Middlesex EIOC. Light &
Power Co.. Weehawken Contracting Co., Nichols Elec Lt. & Power Co. of
Nutley, N. J.. anti Citizens' Eltie. Light. Heat & Power Co. and the electric
properties of South Jersey Gas. Elec & Trac. Co.. The Paterson & Passaic
Usa & Elec Co . Somerset Union Sr Middlesex Lighting Co. and The Gas
& Electric 0o.of Bergen County. Also leases Burlington El. Lt. & Pow.Co.
Cinnaminson a:lee Lt. Pow St Heating Co. and Bordentown Mee On..
and electric properties of Princeton Light. Heat & Power Co. and Shore
Lighting (Jo. In addition leases and operates the power stations owned by
Public Service Ry. Co.
STOOK.-Auth., 250.000.000 (increased from $30,000.000 in May 1917);
ontatan
$32 5n0 000 di owned except .iireator.)• si-tires Ov 1..ihi c
Service Corp. In June 1922 the New Jersey P. U. Comm. authorized the
Issurnm of 47,259,030 capital stock, proceeds to be used to reimburse the
treasury for capital expenditures already made. V. 115, p. 82. $1,310.000
Car equipment bonds ann equipment trust certificates noted below.
-Real
estate mortgages, $574,158.
EQUIP. T HUS r CE'S.-Bear int. at 8%. $1,010,000 out-standing
R l'N
i.,,,),)tf. Are secured on equipment costing approx. $1,734.000. Due
65.000 each Feb. and Aug. 1 since Feb. 11921. Philadelphia Trust Co.,
ustee. V. 111. p. 596.
PROPERTY &c.
-On Dec. 31 1921 had 18 generating stations with a
capaeity of 293.755 k.v.a., and 70 sub-stations: 947 miles of transmission
line and 161 miles of conduit. Meters. 280,408.. Number of street arc
lamps 8.219. and street incandescent lamp-. 38.771. K. w. hours sold In
0 1.132 02 MI. Total aremeeted taad in k. w rine 11 urn 576 41n.
-1
For improvements to be made during 1922, 1923 and 1924 see V. 114, p.1898.
OFF10ERa -Pros.. Trios. N. McCarter;
Edmund W. Waleelee
and Percy S. Young; V.
-P. & Gen. Mgr., Farley Osgood; Treas., T. W.
4.-V. 107. n. 807; V. 110, p. 2663;
Van Middleowor•h see.. Perry inV.1,11,
V. 111. p. 596; V. 114, p. 205, 1898; V. 115, p. 82.

rr

United Electric Co. of New Jersey.
ORGANIZATION -Organized March 4 1899
-Leased July 1 1907 for 999 years to Public Service Corporation.
Lease.
In July 1910 lease assigned to Public Service Electric Co. Under the
lease the $400.000 surplus cash assets of company were divided and a
special dividend of 5% was paid June 29 1907 (V. 85. p. 44). Renta) is
3% for two years. 4% for next two years and 5% thereafter. V. 85. p. 41.
public Service Corporation owns 519.732,500 of this company's stock and
$683.000 of its first mortgage bonds.
STOOK AND BONDS- Date.
Interest. Outstanding. Maturity
_
Stock $20.000.000$20.000.000 See text
J-J
First mtge $20.000.000 gold' 1899
4 g J-D
18.617.500 June 1 1941t
($500 and $1.000) __c•.ntf f Int. at N. J. Title Gu.& Tr. Co.. J. 0.. Trus
Con Lt Heat & Pow 11.0001 1898
5 g J-I)
308,000 June 1 1938
000 ($500) goldtf Int. at N. J. Title Gu.& Tr. Co.. J. C.,Trus
Nor Hudson Lt Heat & Pow 1898
5 g 1-0
367.000 Oct 1 193$
12.000.000 ($1.000) __--tf(Int. at N. J. Title Gu.& Tr. Co.,J. 0.. Trus
-In addition to the above there are $115,000 Con. Lt.. Ht.& Pew
Bonds.
bonds in hands of trustee. Int. on 1st mtge. Is guaranteed by Pub. Serv
Corp.. which also agrees to provide for payment of prin. by extension. re
funding or otherwise. V.90. p. 114. First mtge. bonds are reserved to retire Con. Lt., lit & Pow. and North Hudson Lt.. lit. & Power Bonds.
V. 90, p. 114, 1106; V. 93. p. 414; V. 94, p. 987; V. 114, p. 418.
Middlesex Electric Light & Power Co.
ORGANIZATION.
-Is a consolidation of Carteret Electric Light &
Power Co. and Middlesex Lighting (lo. Was leased May 1 1908 for 999
years to Public Service Corp. for an annual rental of 5% on stock and lot
on bonds. Lease assigned to Public Service Electric Co. in July 1910.
Stock all owned (except directors' shares) by Public Service Corporation.
which also owns $21.000 of the first mortgage bonds
Interest. Outstanding. Maturity
Date.
STOCK AND BONDS1175.000 __
Stock 4200.000)- - ___
181,000 Jan 1 Ma
mortgage ($200.000)1 1905
First
6g
gold
tf(Fidelity Union Trust Co., Newark. Trustee.
-Of the bonds. $19.000 are reserved for improvements.
Bonds.
Nichols Electric Light & Power Co. of Nutley. N. J.
ORGANIZATION.-Incorp. In N.J. Jan.3 1896. Stock $25.000 ($5O).
y Public gervice ('orp except directors' shares
r
year
No bonds. Was
,r
leased May I 19
tocve Corp. (lease assigned to
08
999
Public Sera. Elec. Co.In July 1910) for an annual rental of 10% on stock.




[VOL. 115.

Weehawken Contracting Co.
ORGANIZATION.-Incorp. in N. J May 9 1904. Was leased on
Jan 1 1910 for 999 years to Public Service Corp for bond int and 6% on
pref stock
Lease assigned in July 1910 to Public Service Electric Co.
Common and pref. stock all owned by Public Service Corp., except dimetors' shares.
STOCK AND BONDS-Date.
Interest. Outstanding. Maturity.
itock corn $70.000 (150)_
$70,000
°ref $41.050 ($50)
41.050
First mortgage $30.000 goldf 1908
6 g F-A 20
30,000 Feb 20 1928
($250)
c•tflInterest at Weehawken Trust Co.. trustee.
Citizens' Electric Light. Heat & Power Co.
Leased to Public Service Corp. June 15 1910 for 999 years, and in July
1910 lease assigned to Public Service Electric Co.; rental equivalent to
10% on capital stock.
ORGANIZATION.-Incorp. In New Jersey on Mar. I 1905. Stock
auth.. $125.000 ($2.5); outstanding. $41.400 (ntf). all owned by Public
Service Corp. except $225 in hands of public. Incl. directors' shares.
Burlitigton Electric Light & Power Co.
ORGANIZATION.--lncorporated Oct. 6 1888 in New Jersey. Public
aervice Corp. owns entire issue of stock. except directors' shares. Stock
auth.. $25.000 4501 outstanding. $17.550. No bonds. Leased for 900
years from May 1 1911 to Public Serv. El. Co. at a rental of $2.250 per ann.
Cinniminson Elec. Light, Power & Heating Co. of Riverton, N. J.
ORGANIZATION.-Incorp. Nov. 28 1892 and leased to Public Service
Elec. Go. April 1 1914 for 46 years at a rental consisting of the amount
necessary to maintain the corporate organization of the lessor the Interest
on oonded indebtedness of lessor, and $100 per ann payable each Apr. 1.
All stock ($50,000 authorized and $20.000 outstanding) and bonds
($40.000) owned by Riverside Traction Co.
Bordentown Electric (..o.
ORGANIZATION.-Incorp May 28 1912. a.nd is leased to Public Serv.
Elec. Co. April l 1914 for 48 years for $100 per annum and amount nacostory to maintain corporate organization of the lessor. All the 150,000 auth.
and outstanding stock of this company Is owned by the Riverside Traction
0o. No bonds.
Paterson Sc Passaic (las & Electric Co
1
Somerset Un. & iiiddleaex Lie. C.o
)See below under Public
South Jersey Gas. Elec. Sc rraction Co
Gas & Electric Co of Bergen County
Service Gas Co.
1
Shore Lighting Co Princeton Light. Heat Sc Power Co

PUBLIC SERVICE GAS CO.
Controlled by Public Service Corporation by ownership of entire capital
stock except directors shares.
OFCGANIZATION.-Incorporated In New Jersey and was created by
changing the name of the old Oxy-Rydrogen Co. of the United States
(incorporated In New Jersey in i8731. This latter is said to have had a
the right
conveyiglsAtz
manufacture
bondsri
Leases.
-On Oct. 1 1.909 Public eery. Corp. assigned to Public Service Gas
-Co. the leases of Essex & Hudson Gas Co.. Newark Consolidated Gas Co.,
The East. Newark Gas Light Co. and Hudson County Gas no. .nd In so far
as they relate to the manufacture and distribution of gas. the leases of South
Jersey (las, Elec. & Trac Co. the Paterson Az Passaic Gas Sr Elec. Co..
Somerset Union & Middlesex Lighting CM. and The Gas & Elec. Co of Bergen County. V 89 p 594 721
Operating agreement het ween Plainfield
Gas Light Co. and Public Service Corp. was also aasigued to the Public
Service Gas Co
Also leases the Ridgewood Gas Co. and Morristown Gas
Light Co.. and the gas pronerties of Princeton Light Heat & Power Co.
and ahere ',letting no
In May 1922 the Now Jersey P. U. Comm. authorized the Issuance of
$2,500,000 capital stock, proceeds to reimburse company for extensions
made prior to Sept. 1 1921. V. 114. p. 2125.
Stoea $30.000.000. $17,660.00o outstsuoiug all ownea by Pub.Ser.Corp.
except directors' shares
Stock will be issued (V. 89 p. 594) from time to tittle at par to Public
Service Corp only for cash or for imorovements at artuat et.) thereof.
Notes, $1.208.000 8%; dated April 11 11121, due $36.000 per mond
;
since Feb. 1 1922 to June 1 1925, inclusive. and $20,000 July 1 1925. Real
J
estate mortgages. 1234.167.
Rates.-Effective April 1 1922 the company was ordered by the New JOT
,
sey P. U. Comm. to reduce the price of g ts to all Its consumers from $1 40
to $1 25 per 1.000 cu. ft. V. 114, p. 1071.
Important Gas Decision.
-See V. 111. P• 9
95.
div.-21,--paid Dec. 31 1909. In 1910.
1911 and 1912. 8%. In 1913, 6%. In 1911. June. 4%; 2t%. In
Dec.. 4%•
Practically all of stock is owned by the Public Service Corp. and dividends
are es longer reported.
OPhRATIONS. &C.
-Sold 16.614,298 M Cu. ft. of gas
Dec. 31 1921 had 3,233 miles of mains and 565,711 metersduring 1921;
in service.
OFFICERS.
-Same as for Public Service Electric Cr, except that H D.
Whitcomb Is the V.P. & Gen Mgr.
-V. 109. p. 1993; V. 110, P• 537;
V. 111, p. 799, 995; V. 114, p. 2125.
Essex Sc Hudson Gas Company
ORGANIZATION -Incorporated in Nov. 1898 in New Jersey and on
Dec. 1 1898 assumed the lease of Newark Consol Gas Co. to United Gas
Improvement Co. for 999 years from Dec. 1 1898. Essex & Hudson Gas
Co. was leased to Pub. Service Corp for 900 years from June 1 1903 and
lease assigned Oct 1 1901) to Public Service Gas Co. Under lease, div. rate
Is now 8% per annum. Stock auth. and outstanding, $6,500.000. V. 67. p.
1002, 1160; V. 107. p. 406.
Newark Consolidated Gas Company.
ORGANIZATION.
-Incorporated Nov. 30 1808 in New Jersey. Convendetta° of Newark Gas Co. Montclair Gas & Water Co.. Summit Gam
Light Co. People's Gas Co. of Irvington and Clinton Gas Co. Owns entire
capital stock of Orange Gas Light Co anti practically all the stock of The
East Newark Gas Light Co
Leased ail Its property to United Gas Innprovemeut Co. of Phila.. Pa.. for 999 years from Dec 1 (898, and on same
Sate lease was assigned to Essex & Hudson Gas Co and by last-named
company to Public Service Gas Co. Oct 1 (909
Lease provides for
ment of all fixed charges and divo, on stock commencing ti% July 1 pay1900
and Increasing yi% yearly until 5% was reached in 1910. since. 5% per an
STOCK AND BONDSDate.
Interest. Outstanding
Maturity.
Stock 16.000.000($100) _
16.000.000
See text.
Newark Cons Gas cons natgel 1898
5 g J-13
6,000.000 Dec 1 1948
$10.000.000g ($1.0001c•n tfl Int. at Fidelity Union Tr. no., Newark true.
Newark ('las lsta4 $4.000.000( 1895
6 Q-J
3,999.700 April 1
($100. $500 & 11.0091 .cif( Int at Fidelity Union Tr. Co. Newark.1944
Bonds.
-Of the 110.000.000 Newark (inns. Gas bonds, $4.000.000
to retire bonds of Newark Gas Co.
The East Newark (las Light Co.
This company was leased to Public Service Corporation for 099 years
Sept. 1 1909 for annual rental of6% on stock, and lease assigned Oct. 1 from
1909
to Public Service Gas Co.
ORGANIZATION.
-Incorporated in New Jersey. Stock $60.000 (125):
all out; no bonds. All of the stock (except directors' shares) is owned by
Essex & Hudson Gas Co. and Newark Consolidated Gas Co. Operates
In Harrison. Kearney, Arlington, North Arlington and East Newark.

Lrdliuegsroigtgeate.om),uyia
eti l cptrteru7ler

on

are re-

served

Hudson County Gas Co
This company was leased to Public Service Corporation for 900 years
from June 11903. Oct. 1 1909 lease was assigned to Public Service Gas Co.
Under lease, dividend rate Is now g% per annum.
ORGA NIZ kTION.-Incorporated in New Jersey In October 1899. and
Is a consolidation of the various gas plants in Jersey City and Hoboken.
STOCK AND BONDSInterest. Outstanding. Maturity.
Date.
Stock $10.500.000($100)__
____
First mortgage 210.500.000f 1899
5 g al-N
10.500.000 Nov 1 1949
ntfIN. J. Title On. & Tr. Co.. Jersey City, trust.
PLANT.-Controls all gas Wnts i n Jersey. Hoboken and Bayonne.
-Controls
a
-13V.4718.11p 770: V. 84, p. 1555; V. 107. p. 407.
1

Gas

Ridgewood
Company.
ORGANIZATION.
-Incorporated April 24 1900. Is leased to Publis
Service Gas Co.for 999 years from July 1 1910 at rental of 32.000 per ann.

OcT., 1922.1

ELECTRIC RAILWAYS

81

Shore Lighting Co.
Interest. Outstanding. Maturity
Date.
STOCK AND BONDS1100.000
-Incorporated March 21 1911 In New Jersey and is a
ORGANIZATION.
- Stock $100.000.100.000 June 1 1928 consolidation of Shore Elec. (Jo.. Sea Bright Elec. Lt. Co. and Citizens'
5 J-D
First mortgage $100,000 ntfl 1900 Equitable Tr. Co.. N. Y.. trustee.
Jot. at
Lt. & Fuel Co. of South Amboy. 1104.900 of stock owned by P. S Corp.
85,000 April I 1925
5 A-0
The electric properties have been leased to Pub. Serv. Elec Co. and the
Second mtge 1100.000-n0J 1905 Fidelity Union Tr.Co.,Newark,True
lint. at
gas properties to Pub. Serv. Gas Co.; the leases are for 900 years from May 1
1911 and provide for payment of interest on bonds and amount equivalent
Co.
Morristown Gas Light
to 5% per annum on the authorized stock.
-incorporated in New Jersey on Feb. 19 1855
ORGANIZATION.
1910. Rental
Interest. Outstanding. Maturity.
STOCK AND BONDS- Date.
Leased to Public Service Gas Co. for 999 years from July 1 out.. 1367,500
Stock
capital stock.
equal to 5% per ann. on outstanding
Stock 1112.000 ($100)_
except directors shares
'20
102
5 g A-0
$4 10 ° April 1 1951
First mortgage $400,000 gold) 1911
($100). all owned by Public Service Corporation,
tf I int. at Fidelity On. Tr. Co.. Newark. Trust.
No bonds.
(5500)
The Paterson & Passaic Gas & Electric Co.
Bonds.-$341.500 bonds were issued to take up 1341.500 Shore Electric
for 900 year.
Service
This company was leased to Publicrate was Corporation
gradually increased and le Co. bonds and 158.500 to take up $46,800 Olt. Lt. & Fuel Co. bonds: are
lease, div.
from June 1 191)3. UnderOct. 1909 gas part of lease assisned to Publit guar.. prin. & int., by Public Service Corp.
-V.92. p. 1640.
In
now 5% per annum
Public
Service 0 is Co and in July 1910 electric part of lease assigned to
Princeton Light. Heat & Power Co.
,
*aryls° EC1-ctric Co
In 1910 Public Service Corp. acquired control. V. 91. p. 399. Public
ORGANIZaTION.-fec. Feb. 28 1899. Is a consolidation of the vari- Service Corp. owns 1115.850 stock.
and lighting properties of Paterson and Passaic.
ous gas
-Incorporated in New Jersey on July 31 1905 as a
ORGANIZATION.
Public Service Corporation owns $269.700 of the stock.
consolidation of Princeton Elec. Light Works, Princeton Gas Light Co. and
Interest. Outstanding. Maturity
Date.
STOCK AND BONDSFIopewell Elec. Lt.. Heat & Pow. Co. Electric properties have been leased
$4.999.5 6
J-D
Stock $5,000,000($100).___
to Pub. Serv Gas Co.. the
1,099.000 Mch 1 1949 Co Pub derv. Elec. Co. and gas properties providing for payment of leased
5 g M-S
Cons mtge $5,000,000 gold 1 1899
Interest
beiug for 900 years from May 1 1911, and
c•ntf Int. at First Nat. Bank. Paterson, or First 30
($1.000)
bonds and amount equivalent to 2% per ann. on outstaudiug stock ,
National Bank, Now York.
585,000 July 1 1928
5 a .1-J
Interest. Outstanding. Maturity.
Electric III let mtge 1895
Date.
Edison
STOCK AND BONDSnti' Paterson Safe Dep & Trust Co . trustee.
1122.500
1600.000
Stock
5 g ars.N
316.000 May 1 1025 let ref8250.000 ($50) gold s fj 1909
151,30) Feb 1 1939
5 g F-A
Passaic Lighting Co cons mtg 1895
mtge 1250.000
tin Guaranty Trust Co. trustee.
<450.000
($100. $1,000 or frac)_c•tfinint. at Equitable Trust Co.. N. Y., trustee.
reserved for
-Of the new $5,000,001) mtge. of 1899. 19)1,000 Is
Bonds.
-Bonds are guar.. p. & 1.. by Pub. Serv. Corp. Red. on any
Bonds.
underlying liens. The bonds are not subject to call. The Paterson Safe
-V. 107. p. 403.
at, day at 105 and tat. Sinking fund 4% of gross earnings of company beDeposit & Trust Co. is trustee.
gan in 1910.-V. 91. p. 399.
Somerset Union & Middlesex Lighting Co.
-Incorporated in New Jersey on Dec. 1 1903 In the
ORGANIZATION.
-(See map on pages 76 and 77.)
PUBLIC SERVICE RAILWAY CO.
interest of Public Service Corporation, as a consolidation of Somerset LightControlled by Public Service Corporation through ownership of all but
ing Co. of Somerville. N. J.; Plainfield Gas & Electric Light Co. of Plain- 26 shares of stock. No lease.
and Citizens' Electric Co. of North Plainfield (V. 78, p 107).
field.
-Organized Aug. 30 1907 as a consolidation of the
ORGANIZATION.
N..1..
On Dec 30 1903 Central Elec. Co. was also merged in the same. Pablie
North Jersey Street Ry Co.. Jersey city Hoboken & Paterson St Ry. Co.
Service Corp. owns $422.400 of the stock. 1573.182 Som. On. & mie Ltg
Co. bonus, $21,000 Somerset Ltg. Co. 1st 5s and 120.200 Cent. El. Co. Si. and United St. Fly. Co. of Central Jersey. V 85. p. 406. For basis of ex-The co. was leased to Pub. Serv. Corp. for 900 years from rhange of stocks of these companies for stock of new company ,see this SecLEASE.
Dec. 31 1903 on the following terms, viz.: All interest, expenses and tion for Sept. 1915. North Jersey St. Ity in Jan 1598 absorbed the Newark
taxes to be paid by Public Service Corporation,and, as rental, a dividend Is So. Orange The Jersey City Hobok. & Paterson was a consolidation in
Nov. 1899 of the following: Jersey City Hoboken & Rutherford Elec. Ry.
on the stock accruing as follows. From Dec 1 1905. 1% ;Dec. 1 1906
14°7.: Des 1 1)4(17. 2%; Dec. I 1908. 214%; Dec 1 1909. 3%: Dec 11910. Co., Palisades RR. Co.. l'aterson Central Mee Ry Co. Paterson Horse
34.4%; Dec. 1 1911 and thereafter. 4%. So much of lease as relates Co RR.Co.. Paterson Passaic & Rutherford Elec. Ry Co.. Saddle River Trac.
.
manufactore and distribution of gas has been assigned to Pub. Serv. Gas Co.; Co.. White Line Tree Co.. formerly the New Jersey Elec Ry. Co. In
,
narrated. of lease applying to electric properties has been assigned to 1901 it absorbed Paterson Fly. Co. and North Hudson Co Ry. Co.
United Street Fly. Co. of Central Jersey was a consolidation in July 1907 of
Public Service Electric Co.
elizabeth Plainfield & Central Jersey Ry. Co. (which was chartered in 1900
Interest. Outstanding. Maturity. as a consolidation' of Plainfield St. Ry. Co. and other companies) and ElizaSTOOK AND BONDS- Date.
See text.
31.050.000
J-I)
Stock a t ,uotair(l) 11100)____ _ _
git Raritan River Street Ry. Co. (which was a consolidation on April 30
1.974,481 Dec. 1 le4S beth of Alnidiesex & Somerset Traction Co. and East .Jersey Street fly.(Jo.
4 g J-11
Somerset Un St Mid Lt l)u Mj 1903
1904
$2.750.00041 ,000g 01101 Int. at Fidelity Union Tr. Co.. Newark. Tr.
which latter company had previously absorbed Raritan Traction Co..
Underlying bonds assumed
East Jersey Traction Co.)
500.000 April 1 1940 Perth Amboy RR. Co. and
5 A-0
Plainfield Gas St Klee Lt gent 1900
Newark Terininal.-On Dec. 28 1915 stockholders ratified the
tf Guaranty Trust Co.. New fork, Trustee.
mtge $500.000_
156,000 Feb 1 1931 merger (approved by the Board of P.U.Cornme of the Public Service Ky.
5 F-A
Somerset Lighting Co firstf 1899
,.
mortgage 1150.000 _ _.tfIFidelity Union Tr. Co.. Newark. Trustee.
and the Public Service Newark Terminal Its under the name of the former
5g J
750.000 July 1 1940 through an exchange of stock, share for share. effective Jan 1916. The
Cent Elec. con now Istal$750.-J 1900
Re. Co was Inclrulrate.1 In April 1913 to construct an office and
($500 sc $1.000) g_c•tflInt. at Fidelity Union Tr Co., Newark,True
Perminal
000
Bonds.-$1.128.372 of the 1903 bonds have been issued In exchange for terminal building and approaches in the heart of the business section of
Newark. (For description of property see V. 100. p. 2011.) The entire
the stocks of the companies consolidated and 1816.000 for extensions and
$503 Is reserved for Central Electric stock not yet acquired property is leased for nO years from date of occupancy to the Public Service
improvements:
(the company having previously obtained the remainder of the $750.000 Fly. Co. (with which the co. was subsequently merged). Public Service Gas
total stock of that company). $775.000 to retire the underlying bonds and Co and Poteic Service Elec. Co. for a rental not less than a sum sufficient
$125 for future additions and improvements. No sinking fund, and bonnie to pay the taxes, water rates, maintenance and Interest an I sinking fund
cannot be called. Central Electric bonds are subject to call at 110 and int
reqoirements on the 1st NI. hones. The terminal was opened for street
railway operation on April 30 1916; offices occupied In July 1916.
V. 78. p. 107: V. 107. p. 84.
In addition to above. Public Service Fly.leases Consolidated Traction Co..
South Jersey Gas. Electric & Traction Co.
South Orange & Aapiewood Traction Co.. Bergen Turnpike Co.. Orange &
This company was leased to Public Service Corp. for 900 years from Passaic Valley Ry. Co., Camden & Suburban Fly. Co., Camden Gloucester
1903 (at a graded rate of dividend, the maximum of 8% per annum k Woodbury Fly Co.. New Jersey & Hudson River Ry. & Ferry Co. and
June 1
having been reached in the eighth year). and on Oct. 1 1909 so much of the Riverside Traction Co., which companies see below. Also owns all stock
lease as relates to the manufacture and distribution of gas was assigned to of People's Elevating Co.
the Public Service Gas Co. Its traction business Is leased to the Public
Completed in 1912 a terminal station at Sip Ave., Jersey City, connectService Ely. Co and its electric business is leased to Public Service Electric ing with the Penn RR. station and also with the tunnel station there.
Co. Public Service Corp. owns 33.507.000 of South Jersey Gas. Electric
A. terminal station at Hoboken connecting witt ;he D L. & W. RR.
& Traction first mortgage 5s
station and also with tunnels terminating there was ..ompleted in May 1910.
ORO.k NIZATION.-Incorporated Aug. 31 1900 to bring under one conSale of Bergen Turnpike.
-See Bergen Turnpike Co. below.
trol the gas, electric light and trolley interests In Southern New Jersey.
Purrs -On July 10 1918 the N. J. P. U. Comm. turned down the co.'s
Also owns the entire capital stock (1600.0001 of the Camden Gloucester
application for auth. to increase fares from 5 to 7 cents and to charge 2 center
to Public Service Ry. Co.
Woodbury Rya which has been leased
Interest. Outstanding. Maturity. ad Iltinnal for transfers issued on cash fares, and I cent for each transfer
STOCK AND BONDS- Dote.
Issued on a transfer, but auth. the co to collect a war surcharge of 1 cent.
See text
J-D
36.000.000
Stock 16.000,000 4100).
12.991,000 Niels 1 1953 effective Aug 1 1918, on initial transfers. V. 107, p. 182, 102. Compare
5 A-S
rntge 115.000.000 gold) 1903
let
1162 Th eompany was raoeired to submit a nlan
_ c ntfInt. at Fidelity Union Tr. Co.. Newars,Trus. ts 106. p 1017 1315,
($1.000)
6
E
5 g M-S
1.998,000 NIch 1 1949 for an equitable zone system, which was done in March 1919.allOn Aug.
Trenton 0-&- 1 1st M 12.000.- 1899
lines was
1918 another application for authority to charge 7 cents on
_tf Int. at Equitable Trust Co., N Y.. Trustee
000 gold (11.000).
made to the New Jersey P. U. Comm., the company claiming that the
-Of the new 115.000.000 issue. 12.006,000 are reserved to retire wage
Bonds.
award by the War Labor Board (V. 107, p. 502) necessitated such an
-V. 76. P• 332
prior liens. No -.inking fund and bonds cannot be called.
107, p. 604. 803. This time the P. U. Comm. granted the
1144, 1250; V. 78, p. 1449; V. 86. p. 1530; V. 95. p. 1685; V. 105. p. 1314 increase. V. the recommendation of the War Labor Board,effective Oct. 15
petition upon
1918. Ot Oct. 18 1918 Justice Swayze in the New Jersey Supreme Court
New Brunswick Light. Heat & Power Co.
ORGANIZATION.
-Incorporated in New Jersey on Dec. 7 1899. Owns filed art opinion affir nine the Commission's order increasing fires as above.
V. 107, p. 1580. On Nov. 25 1918 the decision was sustained by the
all the stock of The Gas Light Co. of New Brunswick, except directors
shares. Int. on bonds is paid by Public Service Gas Co. through lease of Court of -Errors and At:moils at Trenton, N. J. V. 107, p. 2098; V. 108,
p. 974. The 7-cont fare remained In effect until March 311919. after which
The Gas Light Co of New Brunswick. See latter company below
Date.
Interest. Outstanding. Maturity I a 6-cent fare was to be charged, until the New Jersey P. U. Comm. gave
STOCK AND BONDSSee text orders to the contrary. The war surcharge on transfers noted above
J-J
$400,000
_ - _Stock $500.000 3100)
4 g J-D 15
500.000 Dec 15 1939 continued to remain in effect. V. 107, p. 1288. The Now Jersey 1'. U.
First mtge $500.000 gold) 1899
(1500 and 11.000) _ _ c•ri tf'Int. at Fidelity Union Tr.Co.. Newark,true I Com n., reversing its decision of March 26 1919 (V. 108, p. 1391), ordered
the 7
-cent fare restored on May 4 1919. On Aug. 1 1919 the New Jersey
(a) The Gas Light Co. of the City of New Brunswick.
I P. U. Comm. auth. the co. to put into effect on Sept. 14 1919 a zone system,
ORGANIZATION.
-Incorporated on Mar. le 1851. Stock authorize() under which the charga was 3 cents for the first zone mile and 2 cents for
and outstanding. $400,000, all owned by New Brunswick Lt., lit. & Power each additional zone mile; no transfer privileges. V. 109, p. 477. This
Co. except directors' shares. Was leased to the Public Service Corp. for rate bottle unsuccessful, was modified to 5 cents for the first two zones, one
900 years from Jan. 2 1905 (June 1 1906 lease assigned to South Jersey cent for each succeeding zone and one cent transfer, effective Nov. 16 1918.
Gas. Elec. & Trac. Co.). rental being payment of int. on bonds of New The zone system having proven unprofitable the company on Dec. 7 1919
Brunswick Lt., Ht. & Pow. Co. and dive, on stock of Gas Lt. Co. of City or (by order of the P. U. Comm.) went back to the 7-cont faro with a 1 cent
New Brunswick. as follows: 2% in each of the years 1905 and 1906. 2'.4% charge for transfers. V. 109, p. 2172, 2263. In Dec. 1920 the co. applied
4
In 1907 and 1908.3% in 1909 and 1910. 3 Si% in 1911.4% In 1912. 4 1 % for auth. to increase fires to 10 cents, with free transfers effective Jan. 1
in 1913 and 5% In 1914 and thereafter. The company is now controlled 1921. V. 111. p. 2325. Tit, P. U. Comm., however, first suspended
by Public Service Gas Co. by reason of assignment of lease of gas properties (V. 111, p. 2325; V. 112, p. 1399) and then denied the proposed increase.
V. 112, p. 2191. The Comm. auth., however, an increase in the charge
of South Jersey Gas. Electric & Traction Co.
for transfers from 1 cent to 2 cents, effective Aug. 4 1921. V. 113, p. 293.
Gas Se Electric Co. of Bergen Counts.
629. The N. J. Supremo Court has referred the co.'s application for a
-Was leased to the Public Service Corp. for 999 years from 10-cont fare back to the Comm. but the Comm. has appe tied from this
LEASE.
4
Jan. 1 1905. Dividends are 2% for first two years, 21 % for the next order. V. 113, p. 293. Federal Judge Rellstab on Aug. 9 issued a tempor3% for the text two years, 4% for the next four years and 5% there- ary order auth. the co. to charge an 8-cont fare and 2 cents for transfers,
year.
after. Oct. 1 1909 so much of lease as relates to manufacture and dis- but the following day rescinded said order. V. 113, p. 732. On Oct. 12
tribution of gas was made over to Public Service Gas Co. and in July 1910 1921, however, an interlocutory injunction was handed down in Trenton
by the Special Federal Statutory Court designated to hear the co.'s plea
lease of electric properties was assigned to Public Service Electric Co.
ORGANIZATION.-Incorp. May 311899. Is a consolidation of several for greater revenue, under which the co. is allowed to charge an 8-cont fare.
companies. Public Service Corp. owns $1,655.- with a special rate of 4 tickets for 39 cents, and an initial transfer charge of
email gas and electric-light
1 cent, which rates were placed in effect Oct. 20 1921. For full details see
000 of general mortgage No. 2 bonds.
113, p. 1675, 1773, 2186.
Maturity- V.
Interest. Outstanding.
STOCK AND BONDS- Date.
-See V. 110, en. 2488; V. 112, p. 745. See also
Suits Against Buses.
See text.
32.000.000
.
Stock $2.000.000(3100)
38,000 Nov 1 1954 V. 113, p. 961, 2506, 2722; V. 114, p. 307.
5 a M-N
Gen mtge No. 1 15.000.0001 1904
Fare Decision.
-See V. 110, p. 971.
-tf tEquitable Trust Co.. N. Y. trustee.
gold (81.000)
3,271,000 Nov 1 1954
5 M-N
-In April 1922 the co. was auth. to aba.ndoa its tracks
Discontinued Lines.
Gen mtge No.2 35,000,000 til f 1904
k Fidelity Union Trust Co., Newark, Trustee. between Bonner's Corner and Amboy Ave., Metuchen, and in July 1922
1,443.000 June 1 1949 the N. J. P. U. Comm. approved the discontinuance of the Washington St.
5 g J-D
Consolidated mortgage 814 1899
nt.f1Fids1ity Union Trust Co.. Newark, Trustee. line in Hoboken, N J. V. 114, p. 1891; V. 115, p. 437.
509,090 e 01._
23.000 Jan 1 1939
5 J-J
.
In Dec. 1917 the N. J. P. U. Comm. auth tne co to Lssue $I 250.900
Englew 0 & K let mtge. ntf 1899
5 J-j
10.000 July 1 1935
for developments, &c. Up to Oct. 1
mtge_ntf. 1895
proceeds to be
at
Hack Gas & El gen
1 1934 1922,
24.000 Julyreserved stock thispar, not been issued. used
5 .1-.1
had
Hack 0 L 1st M ($1.00(1) cntf 1894
-Of the general mortgage for 15,000.000. 11.538.000 Is
Bonds.
-For summary of valuation by Ford, Bacon & Davis. engineers,
Valuation.
and improvements. The
to retire prior liens and 1191.000 for additionsIs trustee was superseded ; N. Y fixing reproduction cost as of Jan. 1 1921 at 5125.0a0.000. see
V. 113, p. 293. 418. Compare
morta of which the Equitable Trust Co.
gen.
Co. is trustee. V. V. 112.p. 1742. Compare V. 112, p. 1867; Anderson In V. 114. p. 1409.
by the stellar mtgo. of which the Fidelity Union Tr.
appraisal of 1170.000.000 by Prof. Henry C.
106, p. 1130.




82

ELECTRIC RAILWAYS

[VOL. 115.

STOOK AND BONDS- Date.
Rate.
Outstanding. Maturity
STOCK AND BONDSPar.
Interest. Outstanding.
Maturity.
Stock $50.000,000 ($100)
a$18,750.000
Stock
Text
$100
$6.000.000 Own.by0.Tr
P. S.Newark Terni.lty. 1st MI 1915
5 g J-D
5.000,000 June 1 1955 Newark Pass Ry let cons MS 1.000 5 g J-J
6.000.000 July 1 1930
.85,000,000g (31.000), _c*tf Int. at Fidelity Un. Tr. Co.. Newark, Trust.
1890 $6,000,000 gold_c•tf N. J. Title Guar. & Trust Co.. Trustee.
Oak: trust certificates.Ser"D"f 1917
5 M-N
440,000
See text
The $6,000,000 stock is al deposited as security for the Consolidated
Int. at Philadelphia Trust Co.. Phila.-trustee Traction Co. first mortgage.
Car trust certfs. Ser. "E"___1 1920
7 F-A 1.260,000
Interest on consol. 5s Is payable at First National Bank, Jersey City.
a/makers Trust Co., trustee.
The consols are guar. p. & I. by C/onsol. Trac. Co. and in Feb. 1895 the
Real estate mortgages
316.435
guaranty was stamped on bonds. V.59, p. 969; V. 81, p. 900.
a Inc) $18.400 reserved to retire outstanding stock of consolidated cos.
ROAD.---Embracee about 83 miles of track.
-V.81. P. 900.
Bonds.- The P.8 Newark Term. By. bonus are unconditionally guar.as to
prin.. Int. and sinking fund by endorsement, jointly and severally, by the
(c) Rapid Transit Street Railway Co. of the City of Newark.
Public Service Ry Co. and Public Service Corp. of New Jersey. Sinking
ORGANIZATION. -June 1 1893 leased to Newark Passenger Ry. for
fund of $30.000 annually began April 15 1920. Red. as a whole on or 999 years, and included with It
in lease to New Jersey Traction, and so
after June 1 1920 at 105 and int. on six weeks notice ; also callable for skg
forms part of Consolidated Traction system.
fund on June 1 each year. since 1920, at 102 ki (V. 10(1. p 2011)
The 1st Mtge. bonds were originally 5s ‘
1921, but
a nd
Car Trust Certificates.
-Series "D" certifs. are secured on 150 cars and were extended for 20 years at 8%. V. 1127 p.matured April 1
1399.
mature 544,000 s.-a. May 31 and Nov. 30. Ser. "E'' are'secured on equip.
STOCK. BONDS. ETC.- Par.
Interest. Outstanding. Last div..cte
costing $2,434.000 and are guar. prin. & int. by the Public Service Corp. of
114 J-D30 $504,000
See tem'
N. J. They mature $140.000 semi-ann. since Feb. 1 1922 to Aug. 1 1925 Stock
First mtge 5500,000 g_ _c•ntf 1E1.000
500.000 April 1 1911
and $42,000 semi-ann, thereafter to Aug. 11930. V.113. p. 1361.
8 g A-0
Red. through sk al at 105_ (Int. at Fidelity Union Trust Co.. Newark,
Frost.
SECURITIES OF NORTH JERSEY STREET RY.
Dividends of 115i% yearly are guaranteed by the Newark Passenger and
interest. Outstanding. Maturity.
Date
First mortgage $15,000.0001 1898
4 g M-N $15.000,000 May 1 1918 New Jersey Traction companies upon the stoce.
tti Bankers' Trust Co., New York, Trustee
gold ($1.000 each).
(d) Passaic & Newark Electric Traction Co.
hint at Fidelity Union Tr. Co.. Newark. N.J
Of the let mtge. bonds. $7.230.000 are owned by Public Service Corn
ORGANIZATION.
-Incorporated April 30 1895 and acqeired all the
ElEOURITIES OF JERSEY CITY HOBOKEN .&
-PATERSON ST. ft."7 $1.000.000 stock of Passaic & Newark Electric Ry. Consolidated Traction Co. owns all the stock and guarantees the bonds.
Date.
Interest. Outstanding. Maturitu
Jar City Hoboken & Pater-i 1899
4 g M-N 514.061,000 Nov 1 1949
STOCK AND BONDS.- Date.
Interest. Outstanding. Maturity.
son 1st liege gold $20.- Interest at New Jersey Title Guarantee & itock $1.000.000 ($100)$1.000.000
000.000 41.000). _c•ritt
Trust Co.. Jersey City, Trustee.
let M $1,000,000 guar p & II 1897
5 it J-D
550.000 June 1 1937
Bonds of Constituent Cos.
by Consol ['lac of N J___tflInt. at N.J. Title Gu.&Tr.Jersey City,Trus.
North Hudson County Fly) 1888
5 J-J
2.998,000 July 1 1928
consol (now 1st) morteage Int. at First Nat. Bank, Hoboken. S. B
(2) South Orange & napiewood Traction Co.
This company was leased on Oct. 1 1903 to North Jersey St. By. Co.(now
$3,000,000
c•ntf
Dod, trustee.
Nor Hud Co Ry impt mtge 1894
5 M-N
1.291.000 May 1 1924 nerged in Public Service Fly. (Jo.) in perpetuity, the rental being $2.000
in the preferred stock for first year and Increasing $500 yearly until ninth
81 .292.001) ($1.0
__
_ tf1I Tit at Fidelity Union 'Pr.(Jo . Newark, Trits
Weehawken Extension Mort
-I 1895
5 F-A
100.000 Feb 1 1945 year. when MOO()Is paid, which atnount is to be paid thereafter. Rental Is
_nal Fidelity Union Trust Co., Newark, Trustee. guaranteed by Public Service Corporation of New Jersey. V. 77. o. 824.
_
gaga! $1)10,000
Paterson Ry Con M(nowlst)I 1891
ORGANIZATION.-Consolitiation In July 1901 of South Orange &
6 g J-D
1.250.000 June 1 1931
it $1.250.000 ($1.000) ctfleolumbla Trust Co.. N. Y., Trustee.
Maplewood Tr. Co. and South Orange & Maplewood St. Ry. Co. Stock
Paterson Ry 2nd gee mort1 1894
5 A-0
300,000 (ret 1 1944 auth. and out., common. $75.000; preferred. $150.000. No bonds.
aa'I0 (100 red at any time{ Fidelity Union Tr. Co., Newark, Trustee.
($500 and $1.0001__--cntf
(3) Bergen Turnpike Co.
Leased to Public Service Ry. Co. Jan. 11908.
Bunas.-35.939.000 J. U. ii. & P. first 49 are reserved for
onGANIZATION.-Ortginally chartered on Oct. 27 1802 with $51.990
Of the J. C. H.& P. bonds outstanding. $1.498.000 are owned by prior liens.
Pub. Serv
Corp. The 2nd 5s of the North Hudson County Ry. expire! May 1 1904
as.pital ($10 shares). Jersey City iloaoken & Paterson (now merged in the
but were extended until May 1 1924. See V. 78, p. 1392. These bonds Public Service Ry. Co.) owned a majority of the stock and guaranteed its
are redeemable at 110 and int. on any int. date. V. 78. p. 1392. See also $1.000.000 5% bonds, dated 1901, due July 1 1951; interest J-J It?); prin.
V. 97, p. 1664. 1899. The Weehawken Extension mtge. bonds
and Int payable New Jersey Title Guar. & Trust Co., Jersey City, trustee.
Feb. 1 1915 but were extended for 30 years. V. 100. p.'399. The were due
In Dec. 1915 the turnpike between Hackensack and the Hudson County
Ry.2d gun M.6% bonds fell due Oct. 1 1914 but were extended forPaterson line south of Fairview. over which an electric road was constructed in 1902
30 years
at 5%. V. 98, p. 1993; V. 99. p. 1053. Red April 1 1931 and on the first was turned over to the Bergen County Board of Freeholders for the sum of
day of any succeeding Oct. or April by Public Serv. Ry. Co. in manner $1 the P S Corp giving a bond assuring the payment of tho Cl .000.(10))
provided In mortgage.
5% bonds due 1951. V. 101. p. 1974. In July 1921 the turnpike in Hudson
County was deeded over to the county in consideration of $1.
SECURITIES OF UNITED ST. BY. CO. OF CENTRAL JERSEY
Bonds of Constituent CO3.- Date.
Interest. Outstanding. Maturity
(4) Orange & Passaic Valley Ry. Co.
Elia Plain & Cent Jar mtger 1900
Leased for 900 years from Nov. 1 1903 to Public Service Corporation tot
5 it J-D
$2.400.000 Dec 1 1950
$2,500.000(81.000/ g_c•ntfl hit, at Fidelity Union Trust Co.. Newark
Interest on the trust certificates Issued in exchange for stock. Lease was
No e f & cannot be called) Trustee.
assigned to North Jersey Street Rs). Co. July 23 1907 and now held by
Plainfield Street Ry first mtg 1892
J-J
100,000 July 119.42 Public Service Fly. Co. 5923.500 of the street owned by Pub. Sony. Corp.
0;1.000) Call in 11)0 _ c*n t tot, at Fidelity Union Tr. Co. Newark. Trus
-Incorporated in 1898 as successor of Suburban
ORGANIZATION.
Elizabeth & Raritan Riv StI 1904
5 it M -N
1.500.000 May 1 1954 Traction Co.. sold in foreclosure July 6 1898.
By Ken NI 43.500.000_ _ tf1 Fidelity Union Trust Co . Newark . Trustee
Interest. Outstanding. Maturity.
BONDS-Date,
Brunswick Trac M g ($1.000) 1896
5 g J-J
500,000 July 1 Lev
_
$1.04))).000 _
Cannot be c tiled__ c5 n tEl Fidelity Union Trust Co., Newark, Trustee. Stock
833.000 Dec 1 1938
1st Entge 51.009,000
5 J-I)
HI 1898
Middlesex & Somerset Trac g 1900
5 it J-J
1.000.000 Jan 1 1950
(N J Tit. Ga. & Tr. Co. of Jersey City. Truss.
Iil$l .500.0()0($l.(l00)c*ntf I Int. at Fidelity Un. Tr. Co.. Newark. Trip:
583.000 of outstanding bonds are owned by Public Service Corporation.
East Jersey 1st mtge $500.-J 1904
5 g M-N
500.000 May 1 1944
(5) Camden & Suburban Railway Co.
000 gold guar p &
. _tf1Perth Amboy Tr. On.. Perth Amhoy Trust
Was teased on May 1 1904 to Public Service Corporation for 999 years
Bonds.
-Of the total issue of Enz. Plain. St Cent. Jer. Ry. Co. bonds detect
rental being (in addition to fixed charges) $30.000 for first year (1905).
1900.$100.000 is held to nrovide for like amount of Plainfield Street Ry (In
535.000 the second year. $I2.000 the third year. $48.000 the fourth year,
bonds. See V. 71, p. 1310. The $100.000 Plainfield St. By. 1st
Mtge 154.000 the fifth year. $72.000 the sixth year. $84.000 the seventh year.
5% bonds originally fell due July 1 1922. extended to July 1 1942 at 6%
596.000 the eighth year. $108.000 the ninth year and $120.000 the tentb
V. 115. p 74. Annual sinking fund $2,920. Of Eliz. & Raritan
River St.
By. Co gen. mtge. of 1904, $2,000,000 arereserved to retire prior liens. rear and thereafter. V. 78. p. 2:383. Lease was assigned to Pu'lie
mrvice Railway Co. Sept. 24 1907.
Pub. Serv. Corp owns $154,000 Elie. Pl. & Cent. Jers. 5s and
$274,000
Elle. & Rar. River St. By. bonds.
ORGANIZATION.
-Formed in 1896. Controls Camden Horse RR.
Dividends.-eirat div.-a-a-a,-paid Dec. 31 '08; in '09, Dec., 2%;in
:which is leased) and West Jersey Traction Co.(stock 560.000).
2%; in '11. Dee.. 114 %; In '12, Dt3e., 1t%• In '13. Dec., 114% • in '10
'14
STOOK AND BONDSInterest. Outstanding. Maturity.
Date.
Dec., 13a %. Practically entire stock owned by Public service Corporatior
3tock 53.000.000(525 _) .-.- _- .See text.
See text
Q-F
and dividends no longer reported.
let mortgage $3.000.000 goldi 1896
5 J-J
$1.940,000 July 1 1946
ROAD, &c.
-Owns (including Public Service Railroad) 538.011
($1.00))) -- -- .--- _ctf Intat N.J.Tr.&SafeDep Co-Camden.True.
first main track. 300.282 miles 2d main track and turnoutraand 59.072 miler
Stock.-Theraock-is all outstanding: 20% paid in.
miles
of connections, loops, yard track. are. Total. 897.365 miles of track
Bonds.
-Of the let tinge borris. $1.000.000 are reserved to retire stock of
563 open and 2.012 closed ears.
Oarnden Horse RR and 560.000 are for extensions. V. 94. p 1185.
Passengers carried in 1921, 435,679.801, of which 348.284,212 (excl.
-Operates 9(.3 mile.; of track. Connection through to Trenton
ROA D.
passengers paying for transfers) were revenue and 87.395.589 transfers and
8 mede over Riverside Traction (now leased by P. S. Fly.). V. 78. p. 1781.
passes. In 1920. 453,5:34,69-1, of a hich 36'3.757,587 (excl. passengers pay- 1383; V. 88. P. 1128. V. 89. p. 154; V. 94. ta. 1117. 1185.
ing for transfers) were revenue and 89,777,107 transfers and passes.
(a) Camden Horse Railroad Co.
OFFICERS -Syne as for Pliblic Service Elec. Co., excnnt ttrit R. F..
ORG.kallZaTION.-Incorp. March 23 1866. Stock, 5250.000 (125)
Danforth is the V.
-P. & Gen. Mgr.
-V. 113, p. 1773, 1888, 1983, 2186,
Leased to Camden & Suburban Ry. from Apr. 1 1896 for 999 years. Renta
2506, 2615. 2722; V. 114, p. 307, 1409, 1891; V. 115, p. 74, 437.
!cc.. received. $60.00o per annum, from which Is paid 24% on stock. All
bonds have been canceled.
(1) Consolidated Traction Company.
ROAD.
-Has 30.11 miles of track.
Incorporated Mar. 15 1893. On June 1 1898 leased to North Jerse)
Street By. for 999 years, and lease has now passed to Public Serv. Ry. Co
(5) Camden Gloucester & Woodbury Railway Co.
V.66, p. 1141. Validity of lease was affirmed in Feb. 1902 (V. 74. p. 380
Leased to Public Service Ry. (Jo.
and again in Feb. 1903. V. 76. p. 382.
ORGANIZATION.
-Entire 5)100.000 stock Is owned by South Jersey
Dividends under lease are now 4% per annum.
3ae. Electric & Traction Co. All hoods have been canceled.
Interest. Outstanding. Maturity
STOCK AND BON- Date.
-Comprises 25 miles of road.
ROAD.
Stock all paid in ($100)
-J-J 15
$15.000,000
------- ---See text
(7) People's Elevating Co
Underlying bonds
-see below_
7.308.000
ORGANIZATION.
-Incorporated In New Jersey May 31 1899. Stock
First mortgage gold $15.000.-) 1893
5 g J-D
15.000.000 June 1 193a
is all owned by Public Service Fly. Co.
tfl Interest at Bankers Tr. Co.. N. Y., Trustee
000 410(10)
The gold bonds of 1893 are secured not only by mortgage. but also b)
Interest. Outstanding. Maturity.
STOCK AND BONDSDate.
deposit of $1.000.000 stock of J. 0. & Bergen RR.. $161.625 stock of Wick.$250.000 ($100). __ --- -- - - - -_--$250.000
Newark Plank Road Co.. $6.000.000 stock Newark Passenger Ry, and age,
First mortgage. $250.000.1 1899
- 5 it A -0
175.000 dct-- 1Ciiii
- 1stock of Jersey City Harrison Sit Kearney Ry. Co.
100
gold ($1.000)__-_ - __elf(Int. at N.J.TitleGuar.&Tr.Co...1.0..Truste.
-Operates about 190 miles of track, Including the N. J. Traction
ROAD.
(5) New Jersey & Hudson River Ry. & Ferry Co.
Co., Newark Passenger Ry., J. C. & Bergen RR.. Passaic & Newark ialee
Public Service Corporation has acquired $2.446.35)) of the $2.500.000
Trac. Co.. J. C. Her. & K. RR. and Newark Plank Road. all of whose iornmon and 54.633 of the 5750.000 pref. stock. V. 91. P.
95. Is
stocks are owned.
to Public Service Ry. for 900 years from May 1 1911 for interest on leased
bonds
Stock, debts and mileage of the leased and controlled lines:
and 6% on both common and prof.
Miles.
Stock.
Funded debt
ORGANIZATION.-Incor
dt°C
s on
25 1910 as a consolidation
New Jersey Traction Co
None
$500.000
of New Jersey & Hudson River By. & Ferry Co. awl Hudson River
TracNewark Passenger Ry.
83
6.01)0.000
$6.000.000 tion Co. This company owns the entire capital stock and bon
is
Rapid Transit Street By
504.01)0
12
500.000 Riverside & Fort Lee Ferry Co., owner of the West 130th St. Ferry. of The
Th
Jersey City & Bergen RR
1.000.000
414
258.000 securities are all deposit° 1 unler the $5,000,000 mortgage.
Franchises
Jersey City Harrison & Kearney Ry........10
*100.000
wrpetual except one for 50 years and one for 99 years. Chiefly
private
Newark Plank Road
4 4-5
162.000
STOOKof Nv aA
right
Passaic & Newark Electric Traction _
1.000.000
550.000
AND BONDSy*
Date.
Interest. Outstanding. Dividends
Port Richmond & Bergen Point Ferry_
40,000 shares
.
7tock. corn. $5.250,000 4100) ____
52.500.000 See text
• On this $18.000 has been. paid in.
3tock. pref. 5750.000 6% cum -- -.
6 F-A
750.000 See text
V J & II R ItY & F Co let al.1 1900
4 g M-S
Jersey City & Bergen Railroad.
(a)
4.011.000 Mar. 11950
55,000,000 g 41.000) c'tff Int. at U. S. Mtge.&Tr.Co., N.Y.. Trustee.
-Owns from Jersey City to Bergen Point, &c., total track. 414
ROAD.
llud itiv Trac 1st Da.$1.01)0.- 1902
5 g M-13
miles. Controlled by Consolidated Traction Co.. all the stock being de
631,000 Mar. I 1950
._tt Ent at U. S. Mtge. & Tr. Co.. N.Y., Trustee
000 g 41.000)posited as part security for the Traction Co. let mortgage.
Stock.-Pref. stock is redeemable at 115 and accrued dividends. 51.500
STOOK AND BONDSInterest. Outstanding. Maturity
Date.
.%
._ in tr& t
Bo ds
oref.netock N j eas
Stock
$1.000.000 f.-p.
y. River Ry. & Perry Co. bonds can be called on anY
d
.
First mortgage $1.000.000; 1873
258.000 Jan 1 1923
44 J-J
int. day at 105 and tut. upon six weeks' notice. V. 80. p. 998. Hudson
c•ntflInt.atBkrs.Tr.Co..N.Y..or IstNat.Bk.. J.0
($1.000)
River Traction bowie are subject to call on any int. date at 110. 567.000
Bonds.
-The bonds (originally 7s) matured Jan. 1 1903. but were ex
are owned by N. J. & II. R. Fly. & Ferry 0o.
tended as 414s for 20 years from that date.
REPORT.
-Included in Public Service Ry.
(b) Newark Passenger Rallway.-Electric.
-Owns and operates 31.33 miles of track
BOA D.
N. J.
ORGANIZATION.
-Incorporated June 16 1890. On July 29 1893 (terminal of W. 130th St. ferry. N. Y. (Jity). to from Edgewater.
Englewood Hackensack
leased to New Jersey Traction for 999 years. and so controlled toy toe Con
Paterson; also 17.11 miles of track from Hackensack t: e b bs ck
0 iasuro
solidated Traction Co. of New Jersey. N.J. Traction Co. having been leased and
Woodridge, Rutherford to Arlington and a branch line front 11asHeights.
to Cons. Trac. Co. Jan. 2 1894 for 999 years. Charter said to be perpetual. brouck Heights to Lodi. The cars of
this company operate to Oil business
LEASE AND RENTAL.
centres of Newark, Passaic and Paterson.
-Rental under the lease. $105.000 yearly.
-V. 92, p. 482; v.99 P' 407.
.




OCT., 1922.]

-Trolley.
(9) Riverside Traction Co.
Lease.-Oompany is leased for 999 years from April 1 1912 to Public
Service Ry. The lease provides for int. on bonds 5% dive. on outstanding
pref. stock and a div. on corn. amounting to $14.193 the first year. Increasing annually until seventh year. when the maximum of $20.169 will
have been reached. V. 94, P. 699.
ORGAN IZATION.-Incorp. in New Jersey June 20 1910 as successor to
Camden & Trenton Ry., sold at foreclosure. See plan. V. 88. p. 1126.
Owns 395 out of 400 shares (par $50) of the capital stock co the China
minson Elec. Lt.. Pow. & Mg. Co. of Riverton. N. J.. which supplies the
towns of Beverly. Delanco. Riverside. Riverton and Palmyra. with light
Also owns entirect pita! stock ($50.000) of the Bordentown Elec.Co., which
supplies light to t ordentown and vicinity.
Interest, Outstanding. Maturity.
STOCK AND IONDS- Date.
($50)$747.150
Common.$1.100.000
266.500
5%
---Peeferred. $400.000 ($50)
1.500.000 June 1 1960
5 g J-D
First M $1:500.000 g ($100.). 1910
$500& $1.000)call at 110 tIffInt. at West End Trust Co.. Phila.. Trustee
Bonas.-Subject to call, all or any, on any interest day at 110 and int
Interest is guaranteed by Public Service Ry. V. 94. p. 280. 352.
ROAD.
-Comprises 32.96 miles of track between Trenton and Riverton
(where connection is made with Camden dir Suburban Ry. Tracks). By a
contract between this company and the Camden & Suburban. the Riverside
Traction cars run direct to Philadelphia Ferry at Market and Federal streets
Camden.
-V.93. p. 408: V. 94. p. 280. 352. 699.
(10) Paterson & State Line Traction Co.
Stock all owned by the Public Service Railway Co.
ORGANIZATION.-Incorp. In New Jersey Nov. 15 1901. Stock
authorized. $300.000 (increased in July 1913(rom, 4100.000; V.97. p. 522)
outstanding. $150.000.
Interest. Outstanding. Maturity.
Date.
BONDS.5 J-D
$150,000 June 1 1964
1914
1st mtge $300.000 gold
Fidelity Union Trust Co.. Newark.trustee.

NENVi HAVEN, CONN.
,
EW YORK NEW HAVEN & HARTFORD RV. (Trolley lines.)
'Me New York New Haven & Hartford's interests in trolley lines have
been very extensive, but under an agreement reached with the U S. Govt.
In 1914 the company has pledged itself to dispose of the same
*The trolley companies owned by the N. Y N. II. & II.. which are now to
be disposed of under the decree of the Federal Court, are as follows:
The Vermont Co.
Berkshire Street Ry.
Westchester Street RR.
Connecticut Co
Shore Line Electric RR. of N. Y.
New York & Stamford Ry.
The Hooaick Falls FIR
• The Rhode Island Co was originally included in this list, but the stock
of that co. was sold on Sept. 3 1920 at public auction-see that company
on subsequent page
The N. V N II & H.also owns $4.984.938 of the $5.005.250 stock of the
N. V Westchester & Boston Ry.. an electric road, which it Is under no obligation to dispose of and which will he developed as part of the New Haven
-V.99, p. 270. 604, 1125, 1210: V. 100, p. 642; V. 104. p. 2010.
system.

PUBLIC SERVICE RAILROAD.
-A consolidation (under agreement dated June 30
ORGANIZATION.
1913) of the Elizabeth New Brunswick & Trenton RR. and the Trenton
Terminal RR. Capital stock authorized. $500.000: outstanding. $285.000
all owned by Public service Corp. of New Jersey except directors' shares
Regular trolley service between Newark and Trenton July 1 1913. and
service between Newark and Perth Amboy inaugurated about July 1 1914
V. 97. p. 522 The branch line to Roosevelt Borough was placed in operation Dec. 8 1915.
On Aug. 10 1918 the P. U. Comm. auth. the co. to Increase its rate:
between Newark and Trenton from 2 to 2ji cents per mile, with a minimum
charge of 10 cents, except between Chrome Junction and Chrome, between
-cent fare is to be continued.
which points a 5
(1) Elizabeth & Trenton RR.
Lease.-Leased to Trenton Terminal RR. (subsequently merged In
Public Service RR. Co.) for 999 years from April I 1912. Rental 5% on
Jar
' ending April 1 1915
Outstanding prof stock, and, beginning with the ,
1% on outstanding corn., with additional 1% annually until 4% is paid.
V. 94. p. 697
--incorporated in New Jersey on May 19 1910 as
ORGANIZATION.
successor to the Trenton & New Brunswick 11R. and the New Jersey Short
Line RR.. both sold at foreclosure. See plan in V. 89. p. 1282. 1349.
Interest. Outstanding. Maturity
STOOK AND BONDS- Date.
$811.350
A-0
Common $900.000 ($50)
180.300
A-0
Prof $300.000 5% cum ($50)._
990.000 Apr 1 1962
Fleet mtge $1,200,000 gold). 1912 5g A-0
c•_tffInt. at Logan Trust Co.. Philadelphia. True
($1.000)..
Bonds.-Pima mtge, bonds are subject to call as a whole on any int day
at 110 and int. Prin. sod int. are guar. under terms of lame by the
Trenton Terminal RR.. whose obligations are guar. In turn by the Public
Service RR. and the Public Service Corporation.
ROAD.-Owns 49.616 miles equivalent single track; standard-gauge.
V. 90, p. 1362: V. 94. p. 697.

NEW BEDFORD, MASS.
trolley road.
NEW BEDFORD & ONSET STREET R
This corn
ORGANIZATION.-Incorporated in ‘iassachusette In 1901
pany is owned In the same interest as the Union St Ry. Co. In June 190f
Issued $50.090 new stock In exchange for the It 150.000 stock of the Taunton
& Buzzard's By St Ry., which was a reorganization of the Middieborr
Wareham & Buzzard's Bay St. Ry. V. 82. p. 1438
-cent ca.sh fare. with 12 tickets for
Fare Increase -On Aug. 1920 a 10
96c.. was put into effect
In Dec. 1921 the co. was auth. by the Mass. Dept. of P. U. to extend the
1st M. 5s maturing Jan. 1 1922 for 5 years at 6%. V. 113, p. 2819. Compare V. 113. p. 2185.
Interest, Outstanding. Maturity
STOCK AND BONDS- Date.
$550.000 Feb '22 2%
Stock.$550.000($100
310.000 Jan. 1 1927
First mortgage. $500.000.1 1902 6 g J-J
c•ntt Int at International Tr. Co., Boston, Trus.
gold ($1.000)
No sinking fund and not subject to call
MW&BB 1st mortgage. 1901 6% g A-0
150.000 Oct. 1 1926
$150 000 ($1.000) g _end Int. at Federal Trust Co., Bristol'. Trustee
-The Middleboro Wareham & Buzzard's Bay bonds have nc
Bonds.
sinking fund. See V. 73, p. 1313. Interest was formerly 5%, but on
consolidation with New Bedford & Onset was reduced to 4%. Originally
matured Oet. 1 1921, but were extended for five years at 6%. The New
Bedford & Onset Street Ry.first mtge. bonds were originally 5s and matured
Jan. 1 1922, hut were extended for five years at 6%. V. 113, p. 2819.
-2% pail in Feb. 1922.
Dividends.
ROAD.
-Owns 41.08 miles of track between Fairhaven and Onset and
in Middleboro and to Buzzard's flay and to Monument Beach. 27 passenger cars. 4 snow plows, 5 rnlacellaneous and 88 electric motors.
-For years ending Dec. 31:
EARNINGS.
Gross.
Net.
Int. & Taxes. Bal.. Surn.
Cal. Year$38.039
9318.126
1921
$14.706
$23,332
42.671
331.038
1920
25.500
17.171
In 1921 carried 1.708,823 revenue passengers against 1.939.747 in 1920
Fl. Crapo; Nr.-P. E. S. Wilde; Sec.. E. T. Pierce;
OFFICE RS.-Pres.,
Treas., E. F. Nicholson; Supt., Geo. P. Dole.
-V. 107, p. 501. 697, 906.
2276; V. 108, p. 379; V. 113. p. 2185. 2819.
UNION STREET RAILWAY.
-A trolley road.
ORGANIZATION.
-Incorporated In Maaaachusetts on March 18 1887
as a consolidation of Acushnot St. Fly. and New Bedford & Fairhaven St
Ry. On Nov 1 1910 consolidated with Dartmouth & Westport St. Ry.
V. 91.13 465. 519. 714. 1094
In 1921 the company purchased from the Eastern Mass. St. Ry.. its
controlled line in New Bedford running from Lunds' Corner to the city line.
Fares.
-In Aug. 1920 was authorized by the Mass. Dept. of P. U. to
discontinue the 2
-cent transfer charge and to collect a 5-cent fare to the
centre of the city and a 10-cent fare from one side of the city to the other
V. 111, p. 991.
STOCK AND BONDSDate.
Interest. Outstanding. Last div.ete
Q-F
Stock,$2,437,500 (par $100)
$2.437.500 Aug '22. 2%
250.000 Jan. 1 1934
First M $2.000,000 ($1.000).1 1914 4" g J-J
gold, no sinking fund_ _ntflInt. at Old Colony Trust Co.. Boston. Trust
- -175 500
Notes payable Dec. 31 1921_ --_Bonds.-Redeemable since Jan. 1 1919 at 110. Issued to retire consol
V 97. p. 1.544. 1641
mtge. of 1894 due fan 1 1911
-In 1896-97, 10%;in 1897-98,6%;in 1899.8% and same rate
Dividends.
on and incl. Feb 1919. In May. Ui%: Aug.. 14%; Nov., 13.6%. in
1920. Feb.. 2%; May, 2%; Aug., 2%. In 1921, 8%. In 1922, Feb., 2%.
May. 2%; Aug., 2%.
-Operates 60.39 miles (of which 60.31 1211419 are owned) In
ROAD &c.
New Bedford and adjacent towns, and connect,. New Bedford and Fall
River. 191 passenger cars; 13 miscellaneous cars and 15 snow plows.
EARNINC18.-For years ending Dec. 31:
Net. Int. et Taxes. Dios.(8%). Surplus
Cal. Year- Gross
$195,000
$51.720
$148,120
$394,840
1.605.999
$.
1921
92,630
195.000
141.754
429,384
1.732.966
1920
passengers carried in 1921, 28.678.140, against 31.730,868 in 1920.
Rev,
-P., E. S. Wilde; Sec., E. T
OFFICERS.-Pres., H. El. Crapo; V.
Pierce: Treas.. E. F. Nicholson: Supt.. E. S. Wilde. all of New Bedford.
V. 110, p. 262; V. 111. p. 74, 991. 1853; V. 112. p. 258, 2750.




83

ELECTRIC RAILWAYS

CONNECTICUT COMPANY.
Control Passes to Trustees.
-On Oct. 27 1914 the $40.000.000 capital stock
of this co. held by New England Navigation Co was transferred to five
trustees, pursuant to the requirements of the U S. Dept of Justice. V. 99,
The New Haven Co has bound Itself to sell the stock, and the
p 1451
trustees were to use their best endeavor to complete the sale before July 1
1919. but in March 1919 Judge Julius M. Mayer granted an extension
of time until July 1 1921. V. 108. p. 1275 In April 1921 the time was
%stain extended by order of the Federal Court. to July 1 1922. V. 112.
p. 1616. In March 1922 the court further extended the time to April 1
1923. The trustees are: Judge Walter C. Noyes of New London, Leonard
M. Daggett of Now Haven, Charles Cheney of South Manchester. Morgan
B. Brainard of Hartford, and Chas. G. Sanford of Bridgeport. See remarks
,
under N. Y. N. H. & H. RR. Co. above and V. 98. p. 1000, 1245.
ruts is the company which operates rate trolley thane in connecticut
& H. and which formerly were comprised in
controlled by the N V N
the Consolidated Railway On
-See V.112.P.1977.
Return of Line to N. Y. N. H.& II. R.RR. Suggested.
'GAT10 N.-Incorp. In Connecticut. Entire $40.090.01o0 stock
0110 ANI
and $1,000.000 debentures owned by New Haven Co. June 1 1907
began operating the lines comprising the Consolidated Railway (merged
In 1907 In the New York New Haven & Hartford); February 28 1910
eerchased substantially all the various street railway properties of the
N Y. New Haven & Hartford In Connecticut
On March 1 1910 all the gas, water and electric-light properties formerly
operated by the Connecticut Co., but owned or leased by N. Y. N. H.
k El. RR. Co., were transferred to the Housatonic Power Co.. which company increased its stock from 51.000.000 to $3.000.000, to pay for the
acquisitions. On Jan. 1 1912. however, the gas-distribution lines of the
Houeatontc Power Co. and also the lines supplying electricity (not the
power plants) in Waterbury. New Britain, Greenwich. Norwalk and
Naugatuck were taken over under a sub-lease for 994 years dated Oct. 1
1911 by the United Elec. Lt. & Water Co. V 94, p. 71; V. 93. p. 1669.
Leaae.-The Connecticut Co. owns and had leased to the Shure Line Klee,
89 92 miles of track in New London, Willimantic . Danielson and Putnam. But this lease was annulled by order of the court In Jan. 1920.
V. 110. p. 167. The Shore Line Electric Ry. however continued to operate
these lines until April 1920 when the Connecticut Co. took over the operation
of the lines. See "Chronicle" of April 24 1920.
-On Oct. 15 1920 the co. placed a 10-cent cash fare In effect on the
Fares.
New London city lines. V. 111. P. 1471. On Dec. 3 1920. the Comme
denied the petition of the city of New London for lower fares. V. 111, p.
2323. On Nev. 1 1920 the co. was auth. by the Comm P U. Conn, to
charge a flat 10-cent cash fare with fare limits based upon the original 5-cent
fare areas with free transfers. For, further details see V. 111. p. 17.51.
The city of Hartford asked for a reduction in these rates but this was denied
by the Commission on Dec. :3 1920 V.111. p. 2323. This schedule supersedes a zone system for details of which, see this section of Oct. 30 1920.
Pares in Bridgeport and Norwalk. In Nov. 1921 were reduced to 5 cents with
no transfers within city limits. Outside city and throughout rest of State.
10-cent cash fare or three "tokens" for 25 cents. V. 113, p. 1982, 2311:
V. 115, p. 542; V. 114. p. 305.
Jitneys Restricted.-See V. 111, p. 1082. 1277, 1369, 1566. 2040; V. 112.
p. 2f4i; V. 113, p. 531. 729, 1052, 1250.
-See V. 112. p. 1642; V. 113. p. 416.
Company Authorized to Run Buses.
-In Oct. 1918 was auth. by the Mass. P S. Comm. to
Rate Increase.
V 107. p 1384. On Sept. 29 1920 the co was
increase freight rates
V 111. p 1471.
auth. to increase freight rates 40%
-In Sept. 1918 obtained a loan through the United
Government Loan.
States Housing Corp. of approximately $1,350,000 to provide funds for
construction tracks and purchase of rolling stock to provide transportation
.,f munition workers in Bridgeport. V. 107. p. 1099. As of Apr. 1 1922 we
were advised that this loan had been reduced to about $1.126,747.
-On Jan. 5 1921 the Conn.
Special Report to Legislature by P. U. Comm.
P. U. Comm. sent to the General Assembly a report of its inquiry into
electric railway conditions under an act of the 1919 session. The report
-uggests the termination of control of the Connecticut Co. by Federal
trustees and the return of the capital stock, propetry and corporate control
For detailed outline of the Commission's
N) the owner or owners thereof.
Principal recommendations see V. 112, p. 256.
-See
Favorable Legislation Enacted at 1921 Session of General Assembly.
V. 112, p. 2747.
Bill Requiring Half of Annual Net Income to be Applied to Deliaquent
State Taxes.-See V. 112, p. 2189, for &eons. Compare V. 115, p. 542.
Supreme Court Decision.-Decision of State Supreme Court holding that
the co. must protect holders of the Consolidated Railway Co.'s debenture
will be found in V. 109, p. 581. See also V. 109. P. 1527. and V. 111.
990. under caption "N Y. N H. & ii RR."
The following companies have been aosoroed or are leased or controlled
firanford Lighting & Water Co. V. Middletown Street Ry. V. 79.9.268.
Montville Street Ry. V. 79. p. 268.
81. p. 155. 210.
Jonnecticut Railway & Lighting Co. New Haven St. Ry. V. 79. Izi• 989.
New Raven & Centreville Street Ry.
V. 83. p. 1524.
V. 78. p. 989.
Danielson & Norwich Street Ry.
New Hay. & W. Haven Horse RR
V. 79 p. 268.
IC. Hartford & Glastonbury St. Ry. •New London St. Ry. V. 79. p 268.
Fair Hay. & Weetv.RR. V.78.13.989. •Norwich Street Ry. V. 79. p. 268
Farmington Street Ry. V. 69. p. •Putnam & Thompson Street Ry,
Stafford Springs Street Ely.
283; V. 89. p. 593. 1542.
kireenwtch Tram. Co. V. 80. p. 118. Stamford Street Ry.
Hart.Man.&Rockv.T.Co. V.82,0.280. TorrIng. & Win. St. Ry. V.8543.1463.
Hartford & Middletown Street Ry. Wallingford Tramway Co.
Waterbury & Pomperaug Val. St.RY •
Hartford Street Ry.
Meriden Electric Ely. V. 79. p. 268. West Shore Ry. Co. V. 78, p. 989.
Weriden Horse RR. V. 79. p. 268. •Willimantic Trac. Co. V.81. p.1176.
Wadden Southington & Compounce Winchester Ave. RR. V. 78. p. 989.
Tramway Co. V. 83. p. 1524.
• These roads were leased In 1912 to Shore Line Electric Ry., which see
under Norwich. This lease was annulled by order of the Court In Jan.
1920. and properties were taken over for operation by the Connecticut Co.
in April 1920.
The N Y. N. R.& H. RR. offered to exchange $100 of its etock for $200
tf certain issues of the Oonsol. Ry. Co.'s debentures. See V 82. Pl• 803
..
and V. 83. p. 1037. $17,317,010 of debentures have been so exchanged for
is 673 500 N. Y. N. H. & H. RR. stock. The following shows the
letails for each issue of debentures:
Debentures of The Consolidated Railway Company-All tax free.
Ex. for Stk. or
Authorised.
IssueIssued. Pur. &Cancel. Still Out.
July 1 '04. 50-Yr..4g J-J $5.000.000 $5.000.000
$745.000 a$4.255.000
Jan. 2'05. 50-Yr.. 4g J-J 4.000.000
1.691.000 a2.309.000
4.000.000
(pr. 1 '05. 50-yr.. 4g A-0 3.500.000 *3.500.000
2.160 000 al.340.000
fan. 1 '06. 50-yr.. 4g J-J 10.000.000 •10.000.000
7,989 WO a2.011.000
5.000 000
5.000.000
Aar.1 '07. 10-Yr..5% con 15.000.000
Total exchangeable_ _S37.500.000 $27.500.000 $17.585.000 $9.915.000
Feb. 1 1905. 25
-year.
972.000
1.000.000
28 000
now 4 g F-A (see text) 1,000.000
Total of all
$38.500.000 $28.500.000 $17.613.000 $10.887.000
•Gaaranteed, principal and interest. by N. Y. N. H. k H. RR. a These
amounts cannot be increased, as remainder of Issues has been canceled
fl Not exchangeable for stock.

84

ELECTRIC RAILWAYS

The debentures are In coupon form of $1,000 each and fully registered
debentures of $10.000 each, which are non-Interchangeable.
BONDSDate.
Interest. Outstanding. Maturity.
Equipment notes Series"0
-...- 1920
6 .1-J
90,000
Equipment notes Series" D''__ 1920
6 M-N
Equipment notes Series "E"_
5 As)
17 4'000
71 5 0
N ft & Centerv 1st M. g.e 1893
283.000 Sept. 1 1933
5 re M-8
assum'd byN Y NHecli.ntfi
New IIaren Street RR.
Hartford Street Ry. now( 1900
4 g MS
2.500,000 Sept. 1 1930
1st nartg . e. $2.500.000t Conn. Tr. & Safe Dep. Co., Hartford.
(11.0(1) g
c•ntf( Trustee. Int. at New York or Boston.
artfore St ey deben "M 'ntf 1900
4 J-J 15
165.000 Jan 1 1930
Rock first mtge
art Mi n
$300.000 $1.000) gold_ ntf 1894
5 A-0
200.000 Oct 1 1924
Meriden II se Railroad con-) 1894
5 g J-J
415.000 Jan 1 1924
solidated mortgage gold1Interest at Girard Trust Co. of Philadelphia.
$500.00 ,
tti State Treasurer of Connecticut Trustee.
N" er South & Comp 1st M lei 1898
5 g J-J
175.000 July 1 1928
3200.000 (11.000) c* ntti
Optional at 110 and Interest.
callable at 110 since 1903.. I Interest at Trust Co. of America, New York.
Oreenwt h Tramway first( 1901
5 g J-J
320.000 July 1 1931
mtge $400.000 ($1.000)i Interest at New York Trust Co.. New York
gold
ce ntf' State Treasurer of Connecticut, Trustee.
Stafford Sega St Ry 1st M g tt ____
•
5 .1-J
400.000 fuly 1 1956
ew London St Ry 1st Mtge_ --__
5%
150.000 Oct 2 1923
°visional debentures
1916
5%
1 000.000 To 1922
Securities of Lines formerly leased to Shore Line Elec Ry.Wore & Conn East 1st M s f gi 1902
1,992.000 Jan 1 1943
41.5 FrJ-J
13,100.000 ($l.000)..,.c5tff Interest at New York Trust Co., Trustee
Norwich St Ry first mtge, 1893
5 g A-0
3.50,000 Oct 2 1923
$350,000 (11.000) g___ntf Interest at American Trust Co.. Boston
Bonds.
-The Consolidated Ry debentures are not subject to call. All
She debentures have printed on their face the statement that if a mortgage
Is made on any or all of the company's propert3 which was owned on Jan 1
1905. except to renew existing mortgages the debentures shall participate
in the security of such mortgage. The debentures are at present secured
under the terms and lien of the 1st & ref. mtge. of the N. Y. N. H. & II.
RR. Co.. dated Dec. 9 1920. but they are entitled to such security only
while arid so long as they are not secured by a mortgage as recited on the
face of each debenture. The debentures due in 1930 bore 3% interest
from Feb. 1 1905 for the first 5 years and 3ee % for next 5 years. From
Feb. 1 1915 to maturity bear 4%
They were issued to pay for acquiring
the Berkshire St Ky.(V. 80. p. 471). which co. was subsequently acquired
by the New Eng, Inv. et Security ('o. then in turn re-acquired by the N Y.
N. H. & H. The $3,500.000 debentures due April 1 1955 were issued to acquire the Hartford Street Ry
The 110.000.000 debentures of Jan. 1906
were issued to the N. Y N li & Hartford for advances
Of the Worcester Se Connecticut Eastern bonds, no more will he Issued.
A sinking fund on these bonds commenced in 1908 of not to exceed 1% of
bonds outstanding. Bonds cannot he called hut may be bought on a 3%
basis or better, and kept alive for sink. al. See V. 75. p. 1204. $315,740
In sink. id., Incl. In amount reported outstanding.
EARNINOS.-Of Connecticut Co. for year ending Dec. 31:
Dec. 31
Ooeratsng
Other
Ns't eifter
I nterest,
Balance.
Year.Revenue.
Income. Rentals utc. Surplus,
m
Taxes).
1921
114.619.210 $2 170.858
$10,118 S1,455.050
A725.926
1920
13.089.317 def.53.590
11.340
1.393.8.11 df.1.436.091
ROAD.
-Connecticut Company oneretee 831.763 miles of line (of
which 505.103 miles are owned. 36 397 miles leased and 10.263 mile•
operated under trackage rights), serving the following cities and towns:
Ciders of New Haven. Hartford. Bridgeport. Waterbury. New Britain.
Meriden, 'Middletown, Stamford, Nerwalk, Rockville, Derby. Shelton,
Ansonia, New London, Norwieb, Willimantic, Putnam anti the towns of
East Haven. 1a antford, North Haven, Wallingford, Hamden, Orange,
Einuthington, Plainville, Far mington, Portland. eilddiefleid, Cromwell,
Rocky tiel, Wethersfield. West Hartford, Bloomfield, 1Vindsor. Stafford,
East Hartford, East Windsor, South Windsor, Manchester, Vernon, Glastonbury, Greenwich, Stratford, Milford, Huntineron, Fairfield, Westport,
Norwalk. Darien, Naugatue.k, Watertown. Middlebury, Thomaston, Torrington, Winchester. Beacon Falls, Seymour, Cheshire, Newington, Waterford, Montville, Unicasville. Them.svilie. Taft, Jewett City, Piainfield,
Wauregan. Danielson, Killingly, Dayville, Eillott, South Coventry. South
Windham, Greenville Baltic, Central Village, and Berlin, Connecticut.
*Kander,' gauge. Cars operated Dec. 31 1921, 1,498 passenger and 334
freight, &c.. cars; total, 1,832.
OFFICE RS.-Pres. LUCIUS S. Storrs; V.
-P. & Gen. Mgr., J. K. Punderford; Sec.. Victor S. Curtis; Treas., E. T. Chapman; Comet. 1. A May.al
-V. 113, p. 105e, 1250, 1771, 1887, 1982, 2311; V. 114, p•
of New Haven.
305, 1406, 2359, 2468, 2717. 2823: V. 115, p. 542.
(1) Connecticut Railway & Lighting Co.
Lease.-Leased for 999 years from Aug. 1 1906 to the Consolidated By.
Co.. which latter has since been merged in the N. Y. N. H. & li R It. Co.
Rental amounted to $975.000 for the year 1906-07 and Increased gradually
until it reached $1,400,000 In 1915. The common sharehoelers paid the
Colonial Trust Co., trustee. $10 per share on their stock, which, with
the surplus rental received under the lease, provides a fund which, it is
announced, Is eufficient to pay 4% per annum on both corn. and pref.
shares. All the stock assented to this arrangement. Preferred shareholders agreed to accept 4 dividends during the term of the lease. Instead
On Aug 15 1917 rate was increased to 4% per
of 5%. V. 84, p 507
Pref. stock was; issued In settsannum on both pref. and corn. stocks
action of unpaid accumulations of dividends on pref. shares to Aug. 1 1906.
ORGANIZATION.
-Originally chartered In Connecticut July 2 1895 as
She Gas Supply Co. Charter amended and name changed March 2 1899 to
Connecticut Lighting & Power Co.. for the purpose of uniting various street
railway and light and power properties In Connecticut. Name changed as
at present on Jan. 10 1901. V. 71. p. 1269; V. 72. P. 44. It is a consolidation of the following companies:
Norwalk & So. Norwalk El. Lt. Co.
Bridgeport Traction Co.
Norwalk Street Railway Co.
Central Ry. & El Co of New Brit.
Norwalk Tramway Co.
Cheshire Street Railway Co.
Shelton Street Railway Co.
Derby Street Railway Co.
Greenwich Gas & Electric Ltg. Co. Southingt'n & Plante(' Tramway Co.
Thomaston& Watertown Elec.Ry.Co.
Milford Street Railway Co.
Waterbury Traction Co.
Naugatuck Electric Light Co.
Naugatuck Valley Electric By. Co. Westport & Saugatuck Street Ry.Co.
Norwalk Gas Light Co.
Maturity.
Interest. Outstanding
STOCK AND BONDS- Date.
$8.977.200
See text,
Common stock ($100)_
Pref 5% curn after Jan 1 19041
See text.
Q-F 15
8.142.900
($100) (reduced to 4% under lease to New Haven Co
but Inc to 4 le % In 1917
g J-J 12.551,000 Jan 1 1951
1st & ref $15.000,000 gold 1901
($1.000) sinking funa_c•tt Int at Equitable Trust Co., N. Y., Trustee.
5 g .1-J
1893
706.000 July 1 1923
Bridgeport Traction mort
-Trustee. Fidelity Trust yea Newark, N. J.
gage $2.000.000 gold ($l.
I
__ _
__el
interest at Redmond & Co.. New York.
000)
209.000 Jan 1 1939
5 J-J
Connecticut Ltg. & Pow__ntf 1899
-Of the 1st and refund ine mortgage bonds. S915.000 reserved to
Bonds.
retire the prior bonds. The remainder was reserved for extensions or
betterments, hut under lease to the New Haven road cannot he Issued for
any purpose without consent of lessee. V.84. p. 507. Statement to New
York Stock Exchange in V 73. P. 852: also V. 79. p 2745: also V 85. p. 921Bonds were formerly not sehject to call. hut on June 23 1904 a supplemental mortgage was made giving the right to call bonds on any interest
date at 105 and Interest and establishing a sinking fund of te of 18 per an
nurn on bonds outstanding: bonds acquired by the sinking fund are to be
el 911 000 bonds In sinking fund.
kept alive and bear interest
Bondholders assenting Cr. the supplemental mortgage had their interest
See
improvement Co by endorsement
aranteed by the United Gas
626 for form of guaranty. Offer expired Oct. 1 1904 and was
79
accepted by 810.742,000 of outstanding bonds. See V. 83. P. 969.
-For calendar years:
REPORT.
Balance,
DidSink.
Rentals &Int.on General
Yeardends.Surp s'Mef.
Itonsts.
fist Reed
Funds.
Erns.
EndinoDec. 31 1921_$1.455.S67 $610,545 $10,748 $62,755 $770,404 sr.A1.415
Dec. 31 1920- 1.448,332
770,404 df.1,505
62,755
6,133
610,545




[VOL. 115.

ROAD.
-Owns 170.982 miles matn.80.427 miles second and 9.013 miles,
side tracks; total. 260.502 miles, reaching Milford. Bridgeport. Stratferd.
Southport. Shelton, Derby, Ansonia, Seymour. Westport, Snug; tu
Norwale. South Norwalk, New Britain. Darien and Stamford; also i ne in
Naugatuck, Waterbury, &c. System connects with the Fair lieeen &
Westville RR. into New Haven from Bridgeport and Derby. and company
also has traffic contract with the Hartford Street By. for reaching Hartford. Gauge, 4 feet 8)4 inches. 35 to 95
-lb. rails.
EQUIPMENT.
-Total cars, 474; closed passenger. 199; open passenger.
201. miscellaneous, 74. Car barns. 20; also 4 complete electric-light plants;
elso owns gas plant at Norwalk.
OFFICERS.-Pres., R. A. 0, Smith; V.
-P., Walton'Clark: Sec.. G. W.
Curran; V.
-P. & Treas.. Lewis Lillie
Office, New Eleven. Conn-V. 84. p. 1366: V. 85. p. 921: V. 86. p. 228: V. 106, p. 601; V. 107, p. 401.
(2) West Shore Rallwae.
ORGANIZATION.
-Organized Dec. 15 1893
Leased on Dec. 14 1895
to Winchester Ave. RR. for 99 yrs. for int, on bonds and 5% div on stock.
Lease assumed Feb. 28 1910 by the Connecticut Company. which operates
the property.
STOOK AND BONDS- Date.
Interest. Outstanding. Maturity.
flock.
,
($
$80.000 See text
ROAD.
-Owns 7.42 miles of track. Standard gauge.
-V. 107. p. 503.
BERKSHIRE STREET RAILWAY.
Proposed Sale of Stock -The entire capital stock of the Berkshire St. Ry.
and 6,500 shares of stock of the Vermont Co. (see below, owned by the
New Haven Co., were to be sold before July 1 1919, provided sale was
authorized by the State of Massachusetts or the Court. but In March 1919
Judge Julius M. Mayer granted an extension of time until July 1 1921.
A further extension to April 1 1923 has been granted.
On Dec.31 1921 N.Y. N. Ft. & R. owned all the stock. the entire ($200.00W Issue of debentures and $3,392,500 notes
Receivership Discharged.
-On Aug. 29 1919 Judge Lawton in the Mass.
Superior Court appointed C.Q. Richmond (Gen. Mgr.) receiver for the co
V. 109, p 886, 981. On Sept. 9, 1919 Judge Hammond of the Superior
Court ordered the discharge of the receiver. V. 109. p. 1079. See also
V. 109. p. 1271.
-See V. 112 p. 1398.
Statement of V.-P. Storrs as to Status of Co.
ORGANIZATION.-Incorp. In Mass. on June 11 1901. Franchise perpetual. In 1906 absorbed the Floosac Valley St Ry through exchange of
stock. In May 1910 took over the Pittsfield Elec. St Ry..[seeing 1300.000
stock In exchange for stock of that company. V. 90. p. 1295.
In March 1912 Mass. RR. Commission approved the 99-year lease of the
Vermont Co. to the Berkshire Street Ry.
On Feb. 1 1913 began operation of Hoosick Fails RR under agreement
with Vermont Co.. to which the FloosIck Palls RR, was leased.
Fare Increase -Effective Nov. 12 1918, a readjustment of the 5-cent
fare zone was made. Increasing the co.'s revenue. V. 107. p. 1579. In
Dec. 1918 the P. S. Comm. auth. the reduction of certain zone limits.
V. 107 p. 2374. In Nov. 1920 zone fares were raised from 5 to 6 cents on
all linos except the Lenox branch, where the fare is 10 cente.-V. 111,
p. 18.51.
-On Nov. 12 1918 passenger service was disconService Discontinued.
tinued on the line from Lee to Huntington (work or diemantling this line
was begun in Nov. 1920. V. 111. p 1851) and from Great I3errington to
Egremont and from Great Barrington to Canaan, Conn V. 107. e 1579;
V 108. p. 170. In Dec. 1918 the towns of Great Barrington, Sheffield and
Egrernont voted to appropriate money to help the co. operate its lines
between these towns; Great Barrington voting 16.900; Sheffield. $1,100.
and Egremont, $600.
Sale for Taxes -Early in 1921 certain real estate owned by the co. was
sold at public auction to satisfy unpaid taxes amounting to $1,216. V.
112 p 713. Compare V. 112 p. 160.
Interest Unpaid.-Int. on the Hoosac Valley ref. 434s due Sept. 1 1919
wee paid Sept 23 1919. Int. due June 1 1920 on the co's. 1st mtge 5s of
1922 was paid when due. V. 110, p. 2487. Subsequent coupons are being
paid when due.
STOCK AND BONDS- Date.
Outstanding. Maturity.
Interest
Stock 15.39E4.100 3100)
$5.398.100
First mortgage $800,000 gold) 1902
8(10.000 June 1 1927
7 g JD
(*LOW)
ce_ntf(Girard Trust Co.. Philadelphia, Trustee.
Berkshire Street Ry deb tf. 1905
.
200.000 Mar 1 1925
5 g M-S
Floosac Valley ref restge $400.-1 1904
300,000 Sept 1 1924
4g MS
000 gold ($1,000).
ntfInt. at Berkshire L. & Tr. Co., Mtg., True.
Pittsfield Elec St By 1st mtge 1904
4 g J-J
300,000 July 1 1923
1300,000(11.000) c•_ ntf Int. at Berkshire L.& Tr Co.. Fetters Mass.
Due N Y N FT & H RR Dec. 31 1921
3.392.500
Bonds.
-The $e00,000 1st mtge. bonds originally bore int. at 5% and matured June 1 1922, but were extended for 5 years to June 1 19e7 at 7%•
V. 114, p. 2358, 2467, 2716. The Be-kshire St. By. 1st M. are not subj•
to call. Int. payable and bonds may be registered at, office of N. W. Harris & Co., Boston. The Berkshire St. Ry. debs. are guar. by Consolidated
Ry. Co.
EA It NINGS.-For years ending Dec. 31:
1
Operating
Dec. 31
Net (after
Other
Interest,
Balance.
Revenue.
YearTaxes).
Income. Rentals etc.
Deficit.
$',098.355
$187,781
1921
52,216
$319.975
1129.989
1,050,545
1920
def.32.306
5.715
319.012
345,603
883,591
def.13.906
1919
1,693
317.396
329,608
ROAD -Operates 144.01 m. of line (117.40 owned and 26.66 leased)
serving the cities of Pittsfield and North Adams and the towns of Williamstewri. larksburg. Adams. Cheshire, Laneshoro. Dalton. Lenox, Hinsdale,
Lee. Stockbridge. Great Barrington. Egremont and Sheffield. Mass, Pow
nil. Bennington and Shaftsbury. Vt.. and Hoosick Falls. N. Y. 132
peseeneer end 37 other cars.
-P., L. S. Storrs: Clerk & Mgr.,
OFFICERS.-Pres.. E G. Buckland: V.
C. Q. Mehemet': Treas.. A. S. May; And., I. A. Mev.-V. 112, n.160,
743. 1398: V. 113, p. 1887; V. 114, p. 2358, 2167, 2716; V. 115, P. 1836.
(11 Vermont Company.
Lease.-Is leased to the Berkshire St. Ry for 99 years from Feb. 11911.
Operates 19.55 miles of lino (serving Bennington and Pownal), being that
part of the former Bennington & North Adams St. Ky. lying within the State
of Vermont. Also owns the stock of the iloosice Palls Ky. On Dec. 31
1921 the N. Y. N. 11. & H.owned 6.500 shares of stock and $846.000 1st
M. bonds (0).
(a) lloosick Falls Railroad.
Incorp. in 1910 to acquire that portion of the former Bennington & North
Adams St. By. lying in New York State. On Feb 1 1913 was leased to
the Vermont Co. for 99 years hut is !mine operated by the Berkshire St. Ry.
by agreement. All the stock is owned by Vermont Co. Operates 7.11 miles
of line serving towns of Walloomsic, North Hoosick and Hoosick Falls,N.Y.

NEW YORK & STAMFORD RAILWAY CO.
The New Haven Co. was to sell on or before July 1 1019, pursuant to the
decree of the U. S. Govt., 5,000 shares of the stock and $67)3.000 bonds, but
In March 1919 Judge Julius M. Mayer granted an extension of time until
July 1 1921. A further extension to April 1 1923 has been granted.
nes New Haven company intends merging ttne company with the West
chestor Street RR and the Shore Line Electric RR and will dispose of
all ths securities whenever a reasonable price may be realized.
On Dec. 31 1921 N. Y. N. H. & H. owned entire capital stock and the
$283,679 notes.
ORGANIZATION.
-Chartered in New York on Aug. 3 1901 as a consolidation of Port Chester Street By. and Larchmont Horse Ry.
STOCK AND BONDS-Interest. Outstanding. Maturity.
Date.
Stock $500.000
$500.000 In'11-12 33
4
First mtge 1450,000 ($1.000) 1901
5 g A-0
426.000 Oct 1 1931
gold
c* ntf Int. at New York Trust Co., N. Y., Trustee.
First & ref mtge $2.000.000 1908
925.000 Nov 1958
4%
gold
tf Guar.. p. & la by N. Y. N. ff. & Hartford.
Eql. trust notes
18.000
1920
7%
e1
Stamfora Ry notes
218,432
_ 1921
Town of Greenwich,Conn,notes
4,2301 serially tetNov
1930
EARNINGS.
-For year ending Dec. 31:
Dec. 31
Other
Operating
Interest, Bal.,S.
Net (after
YearTaxes). Income. Rentals.&e. or Del,
Revenue.
1921
$1,480
$114.709
$560,848
$101,445 sur.$14, 44
1920
494.443
2,156
12,858
100,962 def.85,947
•

OCT., 1922.]

ELECTRIC RAILWAYS

85

pany (New Orleans Public Service, Inc.. was Incorporated Aug. 24 1922).
which will acquire from the reorganization committee the properties of the
old co. which are to be bid in by the committee at foreclosure sale. 1131d
in on Aug. 17 1922 by G. H Dahl of the Chase Nat'l Bank, N Y., on behalf of the reorganization committee. for $1..500.000 -V. 115. p 869.
Formally transferred to the New Orleans Public Service, Inc.. on Sept. 21
1922-V. 115, p. 1632.1 The new company is to: (a) Assume all the
obligations as determined;(b) assume the payment of principal and interest
of any car trust certificates outstanding at the date of acquisition: (c)
provide the necessary cash in connection with the reorganization expenses
WESTCHESTER STREET RAILROAD.
-on Feb 29 1920 Supreme Court Justiee Morschauser and for extensions. betterments, &c., to rehabilitate the properties: (d)
Receiversh p.
complaint of the provide for the 44% committee cash equal to 25% of the principal amount
on
appointed Leverett S. Miller receiver foristhe co. to foreclose the mtge of all 4.4s deposited with the committee and assenting to the plan, plus
Farmers' Loan & Trust Co., N. Y which seeking
the defaulted unpaid interest thereon from July 1 1921 to the date when
V. 110. p.•972. See also V • 111, p• 590.the N. Y. N. H. & H. was to sell the new General Lien 43.4s (see description in V. 114. p. 2823) of the new
Under the decree of the Federal Court bonds owned by it on or barna company shall commence to bear interest, together with the interest upon
shares of stock and $222.000
the 7,000
4
an extension all overdue installments of interest on the 445.
July 1 1919, but in March 1919 Judge Julius M.Mayer granted April 1 1923
If practicable, the new co. will endeavor to acquire, by consolidation or
to
of time until July 1 1921. A further extension, however,
otherwise, upon such basis as its directors shall deem desirable, all of the
granted.
has been
possible of the following corporations:
The New Haven Co. Intends to merge this company with the N. Y. a physical properties of as many as & Carrollton RR., Lt. & Power Co..
New Orleans City RR., New Orleans
Stamford Ry and Shore Line Elec. RR. and to dispose of all the securities Jefferson & Lake Pontchartrain RR., St. Charles St. RR., Orleans RR.,
-Incorporated in New York on Dec. 1 1909 as sue
.
ORGANIZATION
Pontchartrain By., New Orleans Gas Light Co., New OrNew
censor to the Tarrytown White Plains & Mamaroneck Ry. sold at fore- leans Orleans & Railways Realty Co.
Ltg. Co.,
closure (V.89. p. 1282) in three sections, two of which form the road of crab
It is proposed to leave undisturbed the following outstanding underlyOn July 1 1913 commenced operation of line
company. V. 89, p. 1484.
lease. 1.466 miles in village of
of Shore Line Electric RR. Co. underand 125-1b. rails. See also Shore ing bonds and mortgages: Mtge. 55
1.3.200.000
New Orleans City RR. Gen.
Mamaroneck. Standard gauge: 70-1b.
2,324.500
New Orleans City & Lake RR. Cons. Mtge. 5s
Line Electric RR. below.
200.000
Orleans Power House Co., Ltd., 1st Mtge. 5s
lines.
In Aug._ 1920 the receiver applied for authority to abandon certain aban- New Orleans & Carrollton RR. 1st Mtge. 58
1,674.500
New
897. In March 1921 the Court auth. the company to
See V. 111. p.
719,000
miles, despite a Canal & Claiborne RR. 1st Mtge. 6s
don operations between Mamaroneck and Larchmont,
2,124.000
let Mtge. 5s
previous order of the P. S. Comm. directing the receiver to run the road. Edison Electric Co. Light & Power Co. 1st Mtge. 5s
300,000
Merchants Electric
V. 112. P. 954. Compare V. 112. p. 373, 471.
375,000
Interest. Outstanding. Maturity St. Charles St. RR. 1st Mtge. 48 bonds
STOOK AND BONDS- Date.
228.000
Railways Realty Co. 1st Mtge.
by the N. Y. N. H. & H. RR. On
All owned
Stock $700.000
Other outstanding securities of the New Orleans Ry. & TA. Co. are to be
$168.000 Sept 1 1944
5 g M-S
First mtge $2.000 000 gold{ 1914
exchanged for securities (for description see V. 114. p. 2823) of the new
cof Int. at Farmers' L. & Tr. Co.. N.Y.. True company on the following basis:
($1.000) _
6%
17.400
Receivers certificates
Reeedie
Out-Subject to call at 102 from Sept. I 1915 on 60 days' notice Ex
Got. Lien -8% Income Bonds- Preferred
Bonds.
Stock.
Cask.
Series A. Series B.
Remaining $1.614.000 issuable only to reimburse the company for cost of
Securities. stanclin7.
4t4s.
$4,625,500
future additions, Improvements. &c.
Gen. 4 kis_ _$18,502.000 x$3,878,500
25
75
Ea.5100-For year ending Dec. 31:
EARNINGS.
Balance, Ret.dozen.53Interest,
Other
Net (after
Operating
Dec. 31
54,225.434
Series A_ 5,020,000
Deficit
Income. Rentals.&c
Taxes).
Revenue.
Year84
Ea. 5100_
535,050 def.$55.678
$880
def.$21,509
$231.339
1921
34,16,352,428 ft
do Ser. B 7,475,292 fr
34,751 def. 83.134
665
def. 49.049
239.039
1920
435 fr
Ea 516 fr
of line serving towns of Tarrytown, 7% notes__ 3,525,000
-Operates 19.134 miles
ROAD.
43,525,000
100
Elmsford, Greenburg. White Plains, Harrison. Scarsdale and MamaroEa. $100_
a(?)
neck. N. Y. Has 22 passenger cars and 4 others.
(?)
-P., H. Elliot; Treas., A. S. Unsec.cred.
V.
Si
OFFICERS.-Pres., E. G. Buckland;
Each $1..
-V. 110, p. 972, 2193; V. 111. Pref. stock.. 9,904,770 Wi receive pro rata common stook of new company,
May; Sec., A. E. Clark; Aud., C. L. Nagle.
p. 590, 897; V. 112. p. 373, 471, 934, 2307; V. 113, p. 1889.
x Holders of 44% bonds assenting to the plan will also reeelve cash for
the defaulted int. from July 1 1921 upon each of the bonds deposited and
SHORE LINE ELECTRIC RR.
int. on all overdue installments of the int. thereon; the committee, however.
-For reference to merger with Westchester Street RR. and to deduct all amounts previously advanced by it to its depositors on account
Merger, &c,
N. Y. & Stamford Ry. and disposition of securities, see latter co. above of such int., together with the int. charges in respect of advances.
y Or at the option of the holder of any Ser. B bonds of the old co. at a
In Aug,1920 the co. was ordered to show cause before Supreme Court
Justice Morchauser why it should not be dissolved. V. 111. P. 589. date fixed not later than date of confirmation of the sale of the properties,
In Oct. 1922 we were informed that dissolution was still pending Court order. $55 prin. amount of 6% Income bonds, Ser. A, of the new co.; provided,
however, that as to each 516 French francs prin. amount of Ser. B 5% bonds
ORGANIZATION.-Incorp. In New York on Dec. 18 1909 to take over of the old co. so deposited with the 5% committee and assenting to this plan
the section of the Tarrytown White Plains & Mamaroneck Ry. (sold at subsequent to the date of the confirmation of said sale, the 5% committee
a distance of 1.46 miles
foreclosure) between Mamaroneck and Larchmont,
will deliver $55 prin. amount of6% Income bonds, Ser. A,of the new co.
Leased to Westchester Street RR. from July 11913. Stock auth.$300,
z The 7% committee may sell any remaining shares of Prof. stock re000. In Aug. 1913 the New York P. S. Comm. authorized the N. Y'. N. H
ceived by it, after reserving sufficient thereof to make distribution to hold& H. RR. to acquire all the capital stock of the company to be authorized ers of 7% notes hereafter deposited with R. and out of such cash shall pay
-V.97. p 597: V. 107. p. 803;V. 111.p. 589.
by the Commission.
all expenses and compensation of the committee, &c. Any cash then remaking shall be distributed pro rata among the holders of 7% notes of the
NEW YORK WESTCHESTER & BOSTON RY.-An electric road
old co. deposited. If the committee shall not so sell the Prof. stock, It
On June 30 1922 the N. Y. N. II. & H. owned $4,984.938 stock.
shall have the right to provide that before any part thereof shall be disORGANIZATION.-Incorp. June 8 1915 as a consolidation of the West- tributed each person to whom such distribution would he made shall pay
chester Northern RR. and the old N.Y. W.& B. By. (See this Sectim to the committee a pro rata part of an amount sufficient to reimburse the
for Sept. 1915.) The franchise to operate In N. Y. City was signed b3 committee for all expenses, &c.
Mayor McClellan on Aug. 2 1904. V. 79. p. 828. Lines from 180th St.
0
The 77 committee, unless otherwise agreed, shall when the right to make
New York, to New Rochelle and from Mount Vernon to White Plains put it deposits finally ceases, deliver to the new co. as its property all shares of
operation on May 29 and July 11912. respectively, and from Harlem River 7% Pref. stock, together with all dive., if any. paid thereon, of the new co.,
St., New York. on Aug. 3 1912. V. 94. p. 1508. 162r; V 95 which shall not have been distributed, to holders of the 7% notes of the
to 180th
p. 48. 298.
old co. who shall assent to the plan.
On July 26 1911 Pub. Serv. Comm.. 2d Dist.. auth. $20.100.000 1st M
a Any of the Pref. stock so delivered to the Chase National Bank, N. Y.,
bonds (total auth. Issue. $60.000.000). of which $17.200.000 were issued and not by it distributed within one year after the confirmation of the sale
forthwith. V. 93. v. 286. The remaining $2.900.000 bonds under thit to the holders of unsecured debt, shall be delivered by it to the new co.,
authorization were Issued from time to time for the construction of tht together with all diva_ if any, paid thereon, to the bank, unless otherwise
White Plains Branch. On April 2 1913 the P.S. Comm.granted permissior directed, whereupon the bank shall be discharged from all liability with
to issue $6,044,000 additional 4% bonds, proceeds to be used for con
respect thereto.
struction of main line double track from New Rochelle to Port Chester ano
Treatment of $958,000 Old 43is Now Deposited as Collateral for 15s.for completion of White Plains Branch. V. 96. p. 1089. Of these bonds $958,000 4 % bonds of the old co., together with certain cash for accumu$744,000 have been issued for construction of main line and $546.000 for lated int. thereon, are held as collateral security by the trustee under the
White Plains Branch.
mortgage securing the 5% bonds of the old co. The 5% committee will
Interest. Outstanding. Maturiti, cause someone on its behalf to bid at the foreclosure sale of the properties
STOOK AND BONDS- Date.
$5,005.250
Stock $6,000,000($100)_
of the old co. for said $958,000 44% bonds. (Bid in Aug. 17 1922 by Chas.
21.390.000 July 1 194t K. Beaimum, N. Y., for $620,000-V. 115, P. 869.1 The 5% committee
First mtge 560.000.000 gold 1911 4ti J-J
Int. on $ bds. in N. Y.; on £ bds. in London
Series 1 (see text)
will immediately, upon delivery of the $958,000 44% bonds,cause the same
19.538,553
Due N Y N El & Fl FIR Dec.31 1921
to be deposited with the 44% committee, and the 44% committee shall
Bonds -Remaining bonds are reserved for construction. Par. ce receive the bonds and issue certificates of deposit therefor and make dis$1,000, or £200 and £100; I**. $1.000 and multiples. Bonds of £200 or tribution with respect thereto on the basis provided above with respect to
bonds.
multiples convertible Into $ coupon bonds at $4 85 per I, with adjustment 4
The 5% committee may use any securities deposited with it In paying
of interest at current exchange rates. Any series or not less than $5.000.
000 of one or more series,redeemable on any int. date at 110. Guaranty the purchase price for the $958,000 44s, and it may borrow any money
bv for any purpose in connection with such purchase, and to secure the payTrust Co.. N. Y. trustee Bonds are unconditionally guar.. p. & 1.,
'
endorsement by N. Y. N. H. & Hartford RR. See V. 93. p. 346. Boncf, ment of the same it may pledge any securities and certificates of deposit
at any time in its possession.
are listed on N. Y. Stock Exchange. V. 94. P. 768.
The 5% committee may sell all or any of the Gen. Lien 4 %is received from
-For year end. Dec. 31:
EARNINGS.
the 44% committee, or any of the 6% Income bonds of the new co. reOther
Interest,
Net (after
Balance,
Operating
Cal.
calved. From any cash received the 5% committee shall pay all debts.
Taxes).
Income. Rentals dec.
Deficit.
Revenue.
Yearsecurities, if
$32.850 $16,993 $1,787.559 $1.737.716 expenses and compensation of the committee. &c. All cashreserving suf51,170.239
1921
the hands of the 5% committee
1,732.959
13.511
1.807,182 any, then remaining in the distribut ion to the holders of(after
912.265 def. 87.734
1920
5% bonds of the old
ficient thereof to make
-Total miles of road operated. 23.22 miles. Line commences ie co. thereafter deposited with the 5% committee) shall be distributed pro
ROAD.
Harlem River Station or the N. Y. N. H. & U. in N. Y.. extending is rata among the holders of Ser. A and Ser. B 5% bonds then deposited with
174th St. Junction. where the N. Y. W. & B. By. diverges from the New the committee. For the purpose of ascertaining what proportionate part
Haven and on its own four tracks extending northerly to line of N. Y. City
of such cash and securities shall be paid or delivered to the holders of Ser. B
then through Mt. Vernon to Columbus Ave. June., at which point the lint 58 of the old co., which are payable in French f•-ancs, the value of such Ser. B
diverges into two double track lines, one extending through Mr. Vernon
bonds shall be computed in U. S. dollars on the basis of the rate of exchange
Pelham and New Rochelle to Larchmont; the other line extends from Col- (as determined under the plan).
The 5% committee, unless otherwise agreed, shall on the date when the
umbus Ave. Junc. to White l'iains, passing through Mt. Vernon. Eastchester, New Rochelle. Scarsdale and White Plains. See also V. 93. right to make deposits with the 5% committee ceases, deliver to the new
p. 346; V. 79, p. 501; V. 97, p. 1824; V. 106, P. 1689.
co. as its property all Income bonds, Ser. A, and Ser. B, of the new co.,
-P., Howard Elliott; with all coupons appertaining thereto duly attached, which shall not have
OFFICERS.-Pres.. Leverett S. Miller, N. Y.; V.
-V. 112. p. 563; been distributed.
Trees. A. S. may; Sec.. A. E. Clark; Aud., C. L. Nagle.
The above plan was declared operative in Tule 1932. V. 115, P. 308.
2013; V. 115. p. 309, 1210.
Y. 113', P. 2819; V. 114. P.
Formal transfer of property to New Orleans Public Service. Inc., effected
-slew
Sept. 211922. Officers of new company are: R. S. Hecht. Chairman of the
Board (and temporary Pres.); A. L. Kempster, V.-Pres. & Gen. Mgr.
H. A. Ferrandou, Treas.: J. H. DeGrange, Sec., and 0. B. McCoard, Aud.
NEW ORLEANS, LA.
V. 115. p. 1632. The directors of the new company have approved the sale
LIGHT CO.
RAILWAY &
NEW ORLEANS
5% first & ref. Mtge. bonds to the Electric Bond & Share
Cities Company (see below) acquired controi of 512.000,000
Co. See V. 115, p. 1731, for details. Offering of these bonds, and other
In July 1911 American
Cities Ry.& Lt. in V.92,P. 1373. 1434.
data pertaining to the new co will be found in "Chronicle" of Oct 28 1922.
under caption of Amer.
per plan
the U. 8, District Court
and description of new securities to be issued
1919 Judge
-On Jan. 9 receiver for Foster in upon application by- tip- For extended outline of plan V. 114,
Receivership.
the no.
13. 2823; V. 115. p 869.
In connection therewith, see
13pointed .1. D. O'Keefe of a defaulted debt of $16,929. V. 108. p. 269
American Cities Co, holder
appointed Special Master in Chancery
-Incorporated In Louisiana on June 12 1905 as a reORGANIZATION.
D. B. H. Chaff° was V. 113, P. 849.
On Jan. 13 1919
See also
organization of the New Orleans R,ys. Co. per plan In V.80, p. 651. Old
by the II. S. District Court.
-In Jan. 1922 a plan for the reor- common stockholders paid an assessment of $10 per share and received $10
Cities Co.
paid $20
Reorganization of American
Co. was formulated (see that co. below) new preferred and $35 new common; old preferred common. assessment
Cities
Comprises
ganization of the American participation therein. American Cities hold- and received $20 in new preferred and $100 In new
street railway, gas, electric lighting and power business (with the
which excluded this co. from
under the plan being transferred to the Chase all the
exception of that furnished by the Consumers' El. Lt. & Pow.(Jo., to which
ings of the co.'s securities
79.
see V. 114, p.
Nat. Bank. For further details Ry. cfe Lt. o.
-A plan for the reorganiza- the co. also furnishes power under a favorable contract) of New Orleans.
Plan for Reorganization of N. 0. Co. dated June 12 1922 was adopted by Stock and bonds were listed on N. Y. Stock Exchange in June 1906 a
& Lt.
tion of the New Orleans Ry.mtge. 44% bonds (R. S. IIecht, Chairman), June 1909. V 82, p. 1497; V. 88. p. 1621.
On Dec. 31 1919 owned the following stocks. We show also the total
the committee for the gen.
various committees representing the junior
and has been approved by the the incorporation in Louisiana of a cons- amounts outstanding of each Issue:
The plan provides for
securities.

-Operates 37.675 miles of line(of which 24.274 milesare owned
ROAD.
trackage rights), serving cities of
7.563 leased and 5.838 operated under N. Y., and towns of Greenwich
Stamford. Conn., and New Rochelle,
72 peas
Conn..and Rye. Port Chester, Harrison and Mamaroneck. N. Y.
and 4 other cars and 2 snow -plows.
-P. L. S. Storrs; Treas., A. S.
Miller; V.
OFFICERS.-Pres., L. S.
-V.109. p. 270; V. 110, P.
May; Sec., A. E. Clark, Aud., C. L. Nagle.
270; V. 110, p. 1188. 2193.




86

ELECTRIC RAILWAYS

EvoL. 115.

Amount
Owned by
STOCK AND BONDS- Date.
Interest. Outstanding.
Maturity.
Issued.
N.0.Ry.4 New Orleans City & Lake IstI 1893 5 g J-Jr
12-358.500 Jan
STOOKSLt. Co.
mtge for $5.000,000 gold Subject to call for sinking fund at 110. 1 1943
N.0. Cit7 RR. Co.. preferred
$2.500.000 $2.473.900
MOO and $1.000)__--c*tf Columbia Trust Co.. 'Louisville. Trustee.
"
5.000.000
common
4.869.600
Interest payable at office of company.
N.0.& Carrollton RR. Lt. & P. Co.. preferred
4,600.000
4.600,000 ST 0 Power-house mortgage 1901
5 g J-J
200.000 July 1 1943
common
2.500.000
2.498.900
gold $200.000 ($1,000)-ctf Fidelity Trust Co.. Louisville, Trustee.
St. Charles Street RR Co
953.300
952.100
Interest at office of company.
Orleans RR. Co
234.700
234.350 N 0 & Oar con M $2,000.000 1899
5 F-A
1.918.000 Feb 1 1933
N.0. & PontchartraLn RR.Co
349.800
349.300
($500 & 11.000)
ntf Interest at office of company.
N.O. Gas Light Co
5.250.000
5.211.300 Canal & Clalb RR cons M gt 1896 6 g M-N
749.000 May 1 1946
Jefferson & Lake Pontchartrain Ry. Co
100.000
99.300
1800.000($500& 31.000)_ _ Interest at office of company.
5 J-J
2,172.000 Jan 2 1929
Total
321.487.800 321.288.750 Edison Elec of N 0 1st M 1899
s f 32.500.000 c5ttt Int. at American Trust Co., Boston,Trustee(51.000)
The New Orleans City RR.Is leased until Dec.31 1955 to the New Orleans
5 g J-J
300.000 July 1 1929
Ry. & Lt. Co. for 5% on the pref. stock and Si% until Jan. 1 1908 and 1% Merchants' Elec Co 1st mtge 1899
1500.000 gold ($500)__c*tf Int. at Merch. L. & Tr. Co.. Chicago, True.
semi-annually thereafter on the common stock.
375.000 Jan 1 1952
Proposed Consolidation.
-On May 22 1916 she stockholders of the New St Charles St 1st M $600.000 1902 4 g
41.000) gold
cntf Interest at office of company.
Orleans Ry & Lt. Co. and the various controlled cos voted to consolidate
6 A-0
100,000 Oct 1 1924
under the same name and with the same capitalization as the present New Equip lease oblig's 1199.0001 1914
($500 and $1,000)
Mint. at Fidelity Trust Co.. Phila.. trustee.
Orleans R.& Light Co.. but an injunction was secured by certain stock7 M-N
750.000
holders of the N.0. City RR. restraining the merger. On Aug. 1 1917 this Receiver's certifs„ (11.000)1 1920
lint. at Girard National Bank, Phila., Pa.
injunction was dissolved by Judge Foster in the U. S. District Court at
1922 7%
New Orleans. The Court. however, retained jurisdiction of the suit in 6 mos receiver's certifs
1,200,000 Dec 1 1922
Bonds.
-On the New Orleans & Carrollton consolidated bonds 130.000
order to pass upon the question as to whether the minority stockholders
have been accorded proper treatment. V. 105, is. 819. It is planned to per annum is payable to a sinking fund. A sinking fund of $30,000 per
annum is provided for the redemption of the N.0 City & Lake RR. bonds.
have the consolidated company own all the physical properties now operated
and the stock of the New Orleans Gas Light Co., which for legal reasons The Merchants' Elec. Co. bonds are sub. to call at 102 and int. at any time.
The St. Charles Street RR. bonds are not subject to call, but a proporcannot become party to the consolidation.
Franchises.-The N. 0 City ER Co. franchises expire from 1943 to tionate amount will be retired yearly by purchase in open market. Edison
Elm Co of N O. bonds have sinking fund of 1% per ann. of bonds out.
1962, except one expiring in 1918; the N. 0. & Carrollton fran
A sinking fund of $15,000 annually,since Jan. 1 1921,is provided for the
chises expire in 1933: the St. Charles St. RR. franchises expire in 1958 and
the Orleans RR. Co. franchises expire in 1951. Gas franchise is perpetual redemption of Canal & Calib. 6% bonds.
Of the $30,000,000 general mortgage of the New Orleans Railway
and is exclusive until 1925. Electric light franchise is perpetual; under
contract with city fixing rates, &c.,entered into Dec. 1915(V. 101.0. 2072) & Light (Jompany. 1958.000 are pledged under the general & refunding
mortgage 5s, 329.000 are in treasury and $11.469.000 are reserved
the city has the right to establish a municipal electric light plant after Dec
They are subject to call on any interest date
1925, but should it elect to do so it must take over all street Installations for prior liens.
See V. 82. p. 1497.
made by the co. In the last 5 years at cost, less 5% per ann. for deprecia- upon 4 weeks' notice at 105 and interest.
See
description of bonds and property In V. 88. p. 1621. 130.000.000 of
tion. V. 102. p. 1987.
On Oct. 27 1916 renewed contract with City of New Orleans for lighting the ref. & gen. lien mtge. bonds are reserved to retire the Gen. Mtge. 43.4%
bonds; remaining bonds may only be issued for betterments and improvefor 10 years from completion of system provided therein
E,tension of Notes.
-In June 1918 holders of the 31.000,000 6% deben- ments at 75% of cost and for acquisitions of additional securities of subtures due June I 1918 were req uested to exchange same on a $ for $ basis sidiary companies tinder certain restrictions. Bonds are red. In whole bus
for new 1 -year 7% note.; due June 1 1919. but callable at 100 and int. on not in part since Nov 1 1919 on any interest date at 105 and interest on
30 days' notice. V. 106, p. 2649. The June and Dec. 1st 1919 int. on this 6 weeks notice. Tax refund in Pa. See V. 84. p. 411: V 92 p. 1033.
issue had not been paid to April 11920. The principal which also became of the $6.117,700 outstanding, 31.448.700 are printed in French and are
due on June 1 1919 was not paid nor were the notes extended but are being payable. p. & I. in France. The equipment lease obligations are guar..
by the N. 0. Ry. & Lt. Co. Subject to call at 10234 and dive.
carried as a past due obligation. V. 109, p. 1462. The War Finance Corp. p. &
Divid.nds.-frirst quer. div. on pref. stock-I 14 %-pald in Jan. 1906,
agreed to loan the co. $1.000.000 to reimburse the treasury for necessary
capital expenditures paid for out of earnings conditioned upon the extension and same amount quer. thereafter to and Incl. July 1907; Oct. 1907. gi %;
of the $4.000.000 debentures due June 1 1918. V. 107, p. 82. The int. none to Jan 1911 when 234% was paid; April, 1 ki %;same rate quer. to and
on this loan is paid regularly. The principal was due on June 11919. but Incl. Oct. 1917. Jan 1918 cliv. omitted W. 106. p 86). On corn., first
in 1914. Jan.. M%;
the War Finance Corp. did not press payment of sun.) at tq,it thno. As div. 1%. paid July 1912;in 1913. Jan., %%;June. 1
turn, }CZ. June Ji%; Dec- 1%. In 1915, March. Si%; Dec.. Si%.
of Aug. 1922. the tot ,1 debt had b !en p i. V. 115. p. 983.
(
0
Interest Payments.
-The July 1 1919 coupon on the co gen. mtge. 4S4% in 1916. Dec.. ki 7. None since.
's
bonds was paid in Sept. 1919 with int. for 3 mos. and the Jan. 1 1920
REPORT.
-For calendar years:
Balance,
Interest,
Net (after
Gross
coupon together with int. for 3 mos. in Mar. 1920. The receiver having Calendar
&c.
Reserves. Sutp. or def.
Year
Earnings. Tares, &c.).
announced that advantage would have to be taken of the period of grace
$14,811,553 $1.043,320
allowed for the payment of the July 1 1920 int. on the gen. mtge. 44%. 1921
the bondholders committee named below offered to advance the payment 1920
$12,627,374 32,425,833 32,095.313 3960,000 def.$629,479
11.325.576 3.408,876 2,099,032 560.000 sun. 749,843
due upon such bonds as had been deposited with it. V. 111. p. 189._ This
1a
-See. V. 115, p. 1632.
int. was paid by the receiver, however, on Sept. 28 1920. V. 111. D 19L9test Earnings.
ROAD.-Culup3nitis controlled operate 62.02 miles of single track, 71.53
1370. 1566. Interest due Jan. 1 1921 on these bonds was paid March a I
1921. V. 112. p. 1:399. The int. due July 1 1921 paid Sept. 30 1911.- miles of double track and 17.04 miles of sidings, &c.; total track. 219.00
V. 113, p. 1471. Compare V. 113, p. 71. Jan. 1 1922 coupon in default. miles. Has 698 cars. Rails 58 to 107-1b. T and girder. Gauges. 4ft.
si in. and 5 ft. 21.4 in. Owns 3 power stations and 8 sub-stations, with
See statement by protective committee in V. 114, p. 1534. rlie int. on all
underlying companies' bonds was at last accounts being paid promptly on 58.700 k. w, generating capacity.
date due. Past due int. on the ref. & gen. lien 5s unpild to Oct. 1 1920.
OFFICERS.
-Receiver, J. D. O'Keefe; Gen. Mgr.. A. L. Kempster;
..Joseph H. DeGrange; Treas.. H. A. Ferrandou: Awl., A. B. McCoard.
The following committee of bondholders has been formed and has called
for deposits. The bonds included in the committee's call for deposits are as -V. 113, p. 2819. V. 1;4. p. 79, 410, 1408, 1503, 1891, 2013, 2469, 2718,
follows: New On. Ry.& Lt. Co.gen. M.4SO. St. Charles St. RR. 1st M.4s 2823; V. 115. p. 74, 308, 544,869, 988, 1632.
Edison Elec. Co. 1st M.5s, New Ott & Carrollton RR. 1st M.5s. New On
City & Lake RR. cons. 5s, New On. City RR. gen. M. 58. New Orl. Power
AMERICAN CITIES COMPANY.
-A holding company.
House Co., Ltd., 1st M.55, Merchants El. Lt. & Pow. 1st M.5s, and Canal
ORGANIZATION.
-Incorporated In
19 1911 to
& Claiborne RR.let M.6s. V.108. p.269. The coupons on the above issuee rake over the entire stock holdings of the New Jersey on June& Light Co.
American ()Mee Ry.
excepting the N. 0. Ry. & Lt.gen. mtge. 4s(see above) were(up to Oct. and at least two-thirds of the common and preferred stocks
of the New Or1 1920) being paid promptly on date due.
leans Ry. & Light Co.. per plan
Bondholders' Committee.-Chalrman, R. S. Hecht; Vice-Chairman, Craw- Elec. Corp in 1913 purchased a in V. 92. p. 1373. 14:34. The United Gas &
majority of the corn. stock of the American
ford H. Ellis. J. P. Henican, Geo. W. Dodge. Jos. P. Butler. Mortimer N. Cities Co. For terms, see United Gas & Elec.
Corp. under "New York"
Buckner, Eli T. Watson and P. H. Saunders; Sec., D. Allen Johnson, and V 97 p 597. 952. 1202.
Hibernia Bk. & Tr. Co. Depositaries: Hibernia lank & Trust Co.,
Reorganization Plan, &c.
-In Jan. 1922 it was announced that the comInterstate Trust & Banking Co. and Canal-Comml. Trust & Savings Bank, mittee (see below) for the 5-6% coll, trust bonds had
approved and adopted
all of New Orleans. and the New York Trust Co., N. Y. V. 108, p. 172. a plan for he reorganization of the co. The plan provides for the formation
269, 379: V.111. p. 189: V. 113, p. 1773: V. 114, p. 1534.
of a new co. (National Power & Light Co., organized in N. J.) to be under
In addition the following committees have been formed:
the management of the Electric Bond & Share Co.
on
-Chairman, Gee. K. Reilly; John S. Feb. 23 1922 purchased at public auction the securitiesThe committee the
Committee for Ref. & Gen. Lien 5s.
pledged under
Newbold, Arthur V. Morton, Geo. A. Colston, Lynn H. Dinkins; Secs 5-6% coll, trust bonds (V. 114. p. 518). The petition of certain New
Walter B. Reed, 517 Chestnut St., Phila., Pa. Depositaries: Penna. Co. Orleans pref. stockholders opposing the plan (V. 114. p. 736) for an injuncfor Insur. on Lives & Granting Annuities, Phila.; Interstate Trust & Bank- tion to prevent the sale was dismissed by Judge Porter Parker in the Civil
ing Co.. New Orleans, and the Mercantile Trust & Deposit Co.. N. Y.City
District Court at New Orleans on Feb. 22 1922. V. 114, p. 946. It is proV. 108. p. 579
posed to transfer to the National Power & Light Co. the securities so acCommittee for One-Year 7% Notes.-Chalrman, Clarence L. Harper, quired by the committee, together with certain securities to be acquired
F. H. Barclay, J. A. Cauldwell, Chas. Counselman. William S. Evans, from the Chase Nat. Bank. in exchange for certain securities of the NOW
John Y. 0. Walker, Joseph Wayne Jr.', Sec., T. Homer Atherton. 325 Orleans By. & Light Co. held by the committee. The latter co. Is not inChestnut St. Phila., Pa. Depositaries: Fidelity Trust Co.. Phila.; Central cluded in the plan. Thus there will be transferred to the new co. the 911•
Union Trust Co., N. Y. City. V. 108, p. 579
lowing securities:
Rates.
-On Oct. 8 1918 an ordinance was passed by the Commission
(a) 20,000 shares capital stock of Houston Lighting & Power Co.. 1905.
Council of New Orleans providing for a 6-cent fare and a 30% Increase In (b) 6.015 shares 6% cum. pref. stock and (c) 16.175 shares corn. stock Little
gas and electric rates, effective Oct. 10 1918. Proceeds of these advances Rock By. & Elec. Co., provided that if said company is in receivership or
are to be applied to the repayment of a Government loan of $1,000,000 to in dissolution at the time of transfer the committee may transfer such rights
the company. V. 107, p. 1579. Compare V. 107. p. 1482. On Nov. 25 as pertain in dissolution to said shares. (d) 20.500 shares capital stock of
1918 Judge H. G. Cage of the Civil District Court at New Orleans upheld Knoxville By. & Light Co. (e) Such rights as may pertain in dissolution to
the legality of this ordinance. In Dec. 1918 the Board of Public "Utilities the 22.303 shares of the pref. stock and the 21.760 shares of the corn, stock
ordered the old rates restored. The purpose of the Board being to deter- of Memphis Street Ry. so acquired by the committee. (f) Such rights as
mine its own power and authority in the regulation of public service cor- may pertain in dissolution to the 27.774 shares of pref. stock and 34,954
porations operating in New Orleans (V. 107, p. 2476). In Jan. 1919 Judge shares of the corn. stock of Birmingham By., Light & Power Co.so acquired
King in the Civil District Court at New Orleans refused to grant an injunc- by the committee. (2) All indebtedness of and claims against any and all
tion preventing the company from charging the increased rates, and held of said companies and American Cities Co.. owned by this committee or to
that the Act creating the Board was unconstitutional and in M.iy 1919 this which it is ente led. (h) All the 5-6% coll. trust gold bonds of American
decision was affirmed by the Louisiana Supreme Court. V. 108. p. 2023. Cities Co. deposited with the committee stamped to show the payments
See also V. 114. is 1408.
other assets and rights of the committee
thereon.
-Per report of special masters Investigating the committee(i) All or such and on such terms as the committee may as the
Fares-Valuation, &c.
may determine
detertrolley problem, placing a valuation of $41.500,000 on the railway property mine.
-cost, &c., see V. 111, p. 1376, Securities lobe Issued by Nat.Pow.& Lt. Co. in Consideration of Above Secur's.
fare. service-at
and recommending an 8-eent
but compare V. 111. p. 1472. 1566; V. 112. p. 470. Valuation by F. W.
(a) 18.750 shares of the cunt. pref. stock.
Ballard in Aug. 1921 will be found in V. 113, p. 1053. Compare V. 113. income bonds dated Jan. 1 1922, with Central(b) 14,125,000 50-year 7%
Union
Co. of
-cent fare, (c) 26,250 shares of its corn.stock. (d) Its agreement toTrust on such N. Y.
p. 533. On Oct. 21 1920 the company began charging an 8
terms
offer,
which rate was to continue in effect for 6 months under the terms of a new and conditions as
committee may approve, to the holders of the pref.
ordinance. V. 111. p. 1661. On April 11 1921 the Commission Council stock of American the
Cities Co. the right to purchase for each full 20 shares
adopted an ordinance giving the receiver the right to charge a 734-cent of said pref. stock held by them $100 50
-year 7% income bonds of new co.
fare beginning April 21 1921. The Court, however, has authorized the with 7 shares of common stock for 1242 50. plus interest on the income
receiver to reject this ordinance and has granted the co. a temporary bond from Jan. 11922. Holders of record May 16 1922 of American Cities
injunction restraining the Council from interfering with the collection of the Co. pref. stock were given the right to purchase for 1242 50 in cash for
-cent fare. V. 112, p. 1866; V. 113, p. 2373. Compare V. 112. p. 1741. each full 0 shares of pref. stock held, 7 shares of corn. and $100 of 50-yr.
8
Fares were reduced to 7 cents effective Sept. 27 1922. See V. 115, p. 7% income bonds of the National Power & Light Co. V. 114. P. 2115.
1632 for details.
coll. trust
Under the plan
-In Feb. 1920 the New Orleans Gas bonds will receivedepositing holders of the American Cities 5-6% & Light
City s Oiler Jur Gas Plant Rejected.
the following securities of the National Power
Light Co. rejected the city's offer of 35.250.000 for Its plant and mains. Co.:(1) 55% of the principal amount of their bonds in 50
-year 7% income
Compare V 110. p 261 and valuation in V ill. P 74 bonds; (2) 25% thereof in cum. pref. stock, and (3) 35% thereof in corn.
V. 110. p 871
Receiver's Certifs.-In June 1922 the receiver was auth. to issue $1,200,000 stock of National Power & Light Co. (said shares being treated as having a
receiver's certifs. dated June 1 1922 and maturing in 6 mos., to pay for $100 par value for the purpose of applying these percentages).
7%
The plan contemplates the acquisition of the Memphis Gas & Elec. Co..
the installation of a 20.000k. w. generator unit. V. 114. P. 2718.
Interest. Outstanding. Maturity, which is in default on certain motrgages. The new co. has therefore conSTOCK AND BONDS- Date.
tracted to buy the bonds secured by the mortgages now in default and being
$20.000.000
See text
Common 320.000.000($100)
foreclosed on the properties of Memphis Gas & Electric Co., provided it
Pref 5% 510.000.000 ($100)
can so purchase not less than 85% of each senior issue, and, for the bonds
See text
10.000.000
-M
5Q
_
non-cumulative
J-J 17.544.000 July 1 1935 so purchased, It will pay 55% of the principal amount thereof in the new
4
N 0 Ry & Light Co gen mort- 1905
co.'s 50
-year 7% income bonds, 25% thereof in the pref. stock and 25% in
Mge 630.000.000 gold (31.-I Interest at New York Trust Co.. Trustee, or the corn, stock of the new co. (such stock being treated as of 1100 par for
cttl at office of company.
6.117 700 Nov 1 194t the purpose of applying these percentages). It reserves the right to buy
5 a M-N
& Lt Co net and gen 1909
N0
t. at on these terms bonds deposited even if less than 85% of the entire issues.
Ben mtge 350.000,000 ($1,-t Empire Trust Co., N..,_Trus.
Its contract also covers the purchase for cash of notes secured by bonds
000 & MOO) gold
Ott( Guaranty Trust 00.. N. Y.
Issued under the junior mortgage on these properties now being foreclosed.
Past due
3,525,000
1918
7%
One-year notes
The Electric Bond & Share Co. and Isadore Newman & Son (succeeded by
3.200.000 July 1 1943
4-5 g J-J
N 0 City gen mtg 63.250.000i 1898
Newman, Saun lens & Co., Inc.) have agreed to provide funds for the
gold ($1.000)
Ott Int payable at office of company.
purchase ofsuch bonds as are not exchanged in accordance with above terms
Fidelity Trust Co.. Louisville, Trustee.

AY




OcT, 1922.1

ELECTRIC RAILWAYS

87

NEW YORK RAILWAYS CO.—Underground trolley.
For detailed outline of plan and description of securities of new co. see V
The Interborough Consolidated Corp. owns $15 054.600 of the stock.
114, p. 76. See also V. 115, p. 758.
Receivership.—On March 20 1919 Judge Mayer in the U. S. District
Distribution to Bondholders.—See V. 114, P. 1405.
Court appointed Job E. Hedges temporary receiver for the company, upon
Default.—Receiverships having occurred for the New Orleans Ry. & Lt. application by the American Brake Shoe Co., holder of an overdue claim
St. Ry. Co.,
Co.. the Birmingham Ry., Lt. & Pow. Co. and the Memphis
for $36,806. On March 31 1919 the receivership was made permanent.
the following protective committee for the coll, trust bonds due July 1 1919 V. 108, p. 1391. Compare V.108, p.1165. On April 21 1919 Judge Mayer
has been formed (see reorganization plan above):
Lynn H. in the U. S. District Court denied the applications of the Eighth and Ninth
Committee for Coll. Trust 5-6s.—Chairman, J. K. Newman;
Ave. RR. Cos, for an order directing the receiver to turn back the properties
Dinkins, Archibald Kains, Lewis H. Parsons, Percy Warner; Sec.. H. L. to the lessor companies. Judge Mayer also refused to order the receiver to
Falls, 212 Oarondelet St., New Orleans, La. Depositaries: Mercantile pay the rentals due the complaining companies. V. 108, p. 1721. On
Trust & Deposit Co.. N. Y.; Guarantee Trust & Safe Deposit Co.. Phila.; July 15 1919, however, Judge Mayer issued a formal order separating the
Canal-Commercial Trust & Savings Bank, New Orleans. V. 108, p. 577. Eighth Ave. RR.from the receivership of the New York Railways Co. The
V. 112, p. 258.
order instructed the receiver and the Eighth Ave. RR.Co. to make an agreeCompanies Oontrolled.—The following shows the companies controlled, ment that, as long as Commissioner Nixon's two-cent transfer order (see
with the amount of stock outstanding in each case and the proportion con- below) exists, fares shall be the same as if the separation had not been made.
trolled by the American Cities Company.
—Common Stock— If, however, the order is contested, the Eighth Ave. line is to be considered
—Preferred Stock—
absolutely independent and no transfers will be given. V 109 p. 27Q.
Total Issued. Owned. Outstanding. Own'd
1919, all
$20.000.000 96% (This order was modified on Sept. 26 1919, and, effective Oct. 1 Co. were
New Orleans(La.) Ry.& Lt. Co_$10.000.000 88%
3,900.000 90% transfers between the Eighth Ave. RR. and the New York Rye.
Birm.(Ala.)Ry., Lt. & P. Co___- 3.500.000 79%
2.500.0(10 877 discontinued.—Ed.] Compare V. 109. P. 1079. On Sept. 11 1919 Judge
St. Ry. Co.-- 2,500.000 89%
Memphis(Tenn.)
owners.
1.911.700 859 Mayer resolved to return the Ninth Ave. RR. to itsordered theV. 109. P.
750.000 80%
Little Rock (Ark.) Ry.&Elec.Co_
Fourth &
2.050.000 100% 1080. Effective Jan. 31 1920. Judge Julius M. Mayer
Knoxville (Tenn.) Ry. & Lt. Co..
2.000.000 100% Madison Ave. Line, which had been leased to the company. returned to its
Houston(Tex.)Ltg.&P. Co-1905
parent company, the New York & Harlem RR, V. 110, p. 360. The let
real estate and refunding bondholders have asked the receiver to surrender
832.361.700
316.750.000
Total
more leases, viz.,
7th Ave., Sixth Ave., Christopher & 10th
Detailed statements for all the above companies will be found under the re- fourand Bleecker St. &B'way &Ferry. Hearing on this question has been
St.
Fulton
spective cities in this publication except the Houston Lighting & Power Co.. set for May 2 1921. V. 112, p. 1114.
return is given below.
whose
On Sept. 27 1920 the co. was in default of the following interest. We
Interest. Outstanding. Maturity. give in each case the earliest coupon in default:
Date.
STOCK AND BONDS—
316.264.700
Common $25.000,000($ MO)
Due April 1 1919.
Due March 11920.
20.553.500 See text
Pref 235.000,000 ($100) 6% ---Lex. Ave. Pay . ry. RR. 1st M.58.
*South Ferry tat M. 5.s.
cum from July 1 1911-- Red. at 110 and accumulated dividends.
Due July 1 1919.
Columbus & Ninth Ave. 1st M.58.
1 1919
7.500.000 July
5-6 g J-J
Coll tr mtge $11,000.000 gold 1911
New York Rye. 1st R.E.& Ref. M.4s.
0' Int. in Now York or New Orleans.
($100 and $1,000)
3.000.00(1 July 1 1918 New York Rys. 4% cony scrip.
1917 6%
1-year deb notes
x Principal of 5350.000 also past due.
Stock.—Pref stock listed on N. Y., New Orleans and Phila. Stock Exch'ge
The co is also in default of the payment of the following and subsequent
13onas.—$209.000 coll. trust bonds in addition to amount shown uutstana
fixed rental):
reserved for acquisition of addi- rentals (either in the form of dividend rental or Due May 1 1919.
Ing are held in treasury. Remainder
Due Jan 1 1919.
tional property. Interest rate 5% for first six years and 6% per annum
Bleecker St. & Fulton Ferry RR. 142d St. & Grand St. Ferry RR.
for 7th and 8th years. Bonds are red at par and int. on any Int date
Ave.
23d St. Railway Co.
$2.500,000 were retired by lot at par and int. on July 1 1916. Majority. Broadway & Seventh 1919. RR.
The co. for a time was in default of
Due
1
stocks of the controlled companies are deposited as collateral for the bonds. Christopher &April St. RR.
rentals due on the Eighth Ave. RR.,
10th
plan above.)
V. 93, p. 285. (See reorganization
the Ninth Ave. RR. and the N. Y &
Sixth Ave. RR.
Disilends.—Semi-ann. div. of 3% paid on pref. stock from Jan. 1912
Harlem RR. but these co.'s have been
lo and incl. Jan. 1915. In July 1915 only 14% was paid (V. 100. P. 2083)
dropped from the system as else1918,3%. Jan. 1917, IA %; none since. V. 104, p. 2552.
where noted.
On Sept. 11 1919 Judge Mayer auth. the receiver to cease operation for
Earnings of American Cities Co. System-12 Mos. end. Dec. 31
the present of the following lines: (a) Avenue C line, which runs from the
OPERATING COMPANIES.
East 23d St. ferry to the Desbrosses St. ferry via Avenue A, 17th and 18th
Balance.
Interest,
Net
Expenses.
Gross
Oalendar
its., Avenue 0, 3d St., First Ave Houston. Prince. Stanton. Washington,
Surplus
Disc.,&c.
Taxes.&e. Earnings.
Earnings.
Year—
Greenwich and Watts Ste.: (b) Madison St. line front Grand St. ferry to
V6,851.830 $20,111,678 $6,712,202 $6,570,183 $142,019 Chambers St. ferry via Madison St., Chambers and Duane Ste.; (c) Sixth
1920
953.935
5.957.001
6.9109:37
16 037,800
22.978.7:38
1919
53022(1 Ave. ferry line from Sixth Ave. and 3d St. to Desbrosses St. ferry via Varick,
4.018,892
4.579.112
13.532.691
18 111.808
are owned by
1918
3.895.499 1.628.947 Carmine and Watts Sts. All of the lines except the last which Is leased the
11.145 998 5521.446
16,670.444
by
1917
company. The latter is owned by the Sixth Ave. RR.
the company. V. 109, p. 1080. These lines ceased to operate on Sept.
HOLDING COMPANY.
Bond
Pref. Div. Balance,
Net (after
20 1919, and a bus system was installed over these routes by the city.
Total
(3%).
Deficit.
faxes, &c.) Interest, &c.
On June 18 1920 however, an injunction was issued restraining the city
Income.
def.$579.359 and others from operating buses which parallel the co 's lines. See V. 110
3668.054
388.695
$175,848
1920
def. 608.269 p 2658 under "Rapid Transit in N Y City" The Delancey St line was
672.365
64.095
147.676
1919
def. 428.558
630.000
201,442
511.656
abandoned at that time but service was restored on Feb 1 1920 by
1918
OFFICERS.—Chairtnan of Board, J. K. Newman: Pres., Francis T. order of the Court. V. 110. p. 562. See also V. 111, p. 189. On Mar.6
Homer: V.-Ps., D. D. Curran, J. S. Fovea,* and Percy B. Warner: See.- 1920 ceased operating through cars over the Williamsburgh Bridge. OperTreas., Miss M. McGrath.—V. 111, p. 2137: V. 112.p. 256; V.113,p.2080; ation of the following lines has also been abandoned • The Amsterdam Ave.
branch of the Sixth Ave. line, the Amsterdam Ave. branch of the Broadway
T. 114. p. 76. 195, 518, 736, 946. 1405, 2115; V. 115, p. 758.
(a) Houston Lighting & Power Co.—Controlled by the American line, and the through Columbus-Lexington Ave. service of the Broadway
line. A new Ene operating from Columbus Ave. and 65th St. to 146th St.
Co.
()ides
and Lenox Ave. has been established. operating via Columbus Ave., 109th
Reorganization Plan.—See American Cities Co. above.
ORGANIZATION.—Incorp. in Texas Jan. 8 1906 and took over the St., Manhattan Ave.. 116th St. and Lenox Ave. V. 111. p. 1746.
,
the (old) Houston Lighting & Power Co. Owns and °Potato
business of
Maintenance eit Depreciation Reserre.—In Oct. 1919 Judge Mayer, in the
the entire municipal and commercial electric-lighting and power facilities U. S. Dist. Court ordered the receiver to set aside 38% of the gross transIn Houston, Magnolia Park, Harrisburg, West Houston and all suburbs
portation revenue as a maintenance and depreciation reserve, following
perpetual.
Franchises in nearly all cases are
the report. (V. 110. p. 75) of Stone & Webster which stated that, under
Interest. Outstanding. Maturity
existing conditions it would take 37.4% of the revenue to go as far in tile
Date..
STOCK AND BONDS—
va 09 mp len o
w.y1of. aint 6ia nce work as was done with 20% in 1914. the old figure
$2.500.000
Common $2,500 000(51OO)"
500 000
Proferre.1 $500.000
1,903.000 Apr 1 1931
5 g A-0
Receiver's Reports.—The receiver has issued two reports which cover fully
First mortgage 55.000.0005 1911
the status of the system. A resume of these will be found in the "Chronic55 Whitney Cent.Tr.&S.Bk..New Orl..Trustee
(51.000) sold.
de" under the following references: V. 111, p. 1766; V. 112, p. 1024, 1137.
Bonds.—Redeemable at 105 and Int. at any Int. period on 30 days' notice
Statement by Judge Muyer.—V. 109. p. 127:3.
oallable by lot. Sinking fund of 1% of bonds outstanding began July 1 1915
Report to Court by Stone & Webster.—See V. 110, p. 75. Compare V.
$1,208,000 in treasury.
109. p. 1080.
EARNINGS.—For 12 months ending Dec. 31:
Surplus.
Net (after Taxes). *Charges.
Gross.
Appraisal.—Stone & Webster in a separate report to the Court estimated
$306,582 the reproduction cost of the co.'s property as of June '10 1919 at $112,526.$250,978
$557,561
$1,586,097
1920
177.846 657. after deducting 331.528,520 for depreciation. V. Ill. p. 1746.
124,301
302,148
1.301.612
1919
* Includes City of Houston participation in profits.—V. 103, p. 1891;
Valuation Report of Transit Commission.—For extended outline of this
V. 107, p. 505; V. 114, p. 85. 1658, 2123.
report issued in Feb. 1922 see V. 114, p. 803.
Objections to Valuation of Transit Commission.—V. 114, p. 1287.
NEW YORK CITY, N.
Foreclosure Proceedings.—On June 6 1919 Judge Mayer in the U. S. Dist.
Court auth. the Farmers' Loan & Trust Co., as trustee, to bring suit to
EIOIITU AVENUE RR.—Underground trolley road.
foreclose the adjustment mtge of Jan 11912.V 108. p 2433. See also
0ROAN ITATION .—Onartered Jam it) 1855. Road was leased to Met
trustee,
St. Ry.. now N.Y. Rya.. for 99 yrs. from Nov. 23 189.5 at rental of *215,000 V 111. p 74 In Sept 1919 the Guaranty Trust Co. of N Y . asp 1273.
V 109.
per annum, which provided for interest on the scrip and 16% dividend. on filed a bill to foreclose the 1st real estate & ref mtge
until
Stock, besides all taxes. This lease was terminated, however, by an order See also V 110, p 1643 In Aug 1920 Judge Mayer adjourned the
Nov 9 1920 the proposed sale under the proceedings brought by
of Judge Mayer in the U. S. Dist Court as of Au2 I 1919. separating the co
from the receivership of the N. Y. Railways. The co. is now operated by Guaranty Trust Co. V. 111, p. 793. Since then the sale has been postponed from time to time.
its stockholders. Transfers are neither given nor accepted. V. 109, p
Mortgage Opinion.—For opinion of Federal Judge Mayer in Nov. 1921
1271; V. 109. p. 172. See also V. 109, p. 270. Underground electric trac
lion system used between 158th St. and Cortland St. V. 67. p. 178. 956. as to what property is covered by the 1st M., see V. 113. p. 2406. sell for
Sale of Real Estate.—On Sept. 17 1920 the receiver was auth. to
Sail.—On Aug. 23 1921, the co. brought suit against the 6th Ave. RR..
the N. Y. Rye., and others to obtain judgment for an immediate partition 52.500.000 the co.'s car barn between 32d & 33d Sts. and Park and Lexingand distribution of the property known as "Church Farm." For details ton Ayes.; also certain other property. A claim of lien against this property
was filed by the bondholders committee for the Columbus & 9th Ave. RR.
see V. 113. p. 960.
On Nov. 28 1913 the P. S. Comm. authorized the issuance of *750.000 1st 5s of 1893. V. 111, p. 1852. A like claim was filed In the interest of
-year certificates. dated Feb. 1 1914. replacing the same amount of the holders of the South Ferry By. 1st 5s of 1889 by the stockholders'
5
6%
cet tificaces issued in 1884 and due Feb. 1 1914. The $750,000 scrip ot committee for the B'way & 7th Ave. RR, V. III,p. 1851. On Nov. 9
1920 three parcels of real estate were sold at foreclosure in part satisfaction
1914 originally fell due In Feb 1919 but has been extended to Feb. 1929
In March 1922 the co. obtained a mortgage loan from the Farmers' Loan of the 1st real e.state & ref. mtge., the aggregate price of the three parcels
being 8380.000. The real estate holdings comprising the properties lo& Trust Co. on certain real estate. V. 114 p. 1179.
cated at 4th Ave., Lexington Ave. and 32nd Sts., on which the Court had
Par.
STOOK AND BONDS—
Outstanding.
Interest.
Maturity
placed an upset price of $2,500,000, also the property on Madison Ave.
Stock
See text
$100
Quer.
81.000.000
6 F-A
Feb 1929 from Situ t )Stith Streets. fourLI it., b iders and tutu silo has bun adjourned
750.000
100
Scrip of 1914_
Scrip of 1914 replaces same amount of scrip of 1884 which fell due Feb 1 from time to time. V. 114, p. 1766; V. 111, p. 1950: V. 114. p. 1535. 2416.
V. 115. p. 1429. On Feb. 16 1922, however, the property on Mad'son Ave.
1914. Again, in 1919, extended to Feb. 1929. Red. any int. day. V. 97
from 85th to 86th Streets was sold at auction to M. Turner Brockway
P. 1503.
EARNINGS.—For cal. year 1921, gross, $1.218,345; net ,after taxes, for $925,000. V. 114, p. 738, 1063.
Special Franchises and Real Estate Sold to Satisfy Tax Liens.—V. 109.
def $141,062. In 1920, gross, $1.032.915: net, after taxes, def.$315.161.
ROAD.—Total track owned and operated, 20.839 miles.—V. 109. p. p. 1366.
Purchase of Franchise Tax Liens by City.—See V. 112. p. 2414.
1272; Y. 112, p. 2413, 2747; V. 113. p. 960, 2719; V. 114, p. 1179.
Committee for Adjustment Mortgage Income 5s.—John Candler Cobb.
RAPID TRANSIT CO.—MANHATTAN RAIL. Chairman; Oscar Cooper, Haley Fiske, Frank L. Hall, Duncan A. Holmes.
INTERBOROUGH
Ernest Stauffen Jr. and Richard El. Swartwout. with B. W. Jones as
WAY.—See "Railway and Industrial" Supplement.
Secretary, 16 Wall St. Depositary: Bankers Trust Co., N. Y. Agents.
Old Colony Trust Co.. Boston and Comm. Tr. Co. Phila. V. 108, p. 1061:
d electric railroad
NEW YORK & HARLEM RAILROAD.—Undergroun also a steam road Deposits have been called for. V. 108, p. 1275% 1512, 2023.
1831. Owns
0RGANIZATION.—Chartered April 25which cover the electric road.; as
Committee for First Real Estate & Ref. M U.—Harry Brenner, Chairman;
York Central, its securities,
leased to New
William A. Day, Caspar %V. Morris, Charles A. Peabody, W. H. Remick,
the title New York & Harlem
well as the steam line, being described under Industrial" Section.
Frederick II. Shipman and Harold Stanley, with Oeo. L. Burr as Secretary.
and
among steam railroads in our "Railway95 in. of track) were leased to the 140 Bway., N. Y. City. Depositary, Guaranty Trust Co., N Y. V. 108,
.
The electric (formerly horse) lines (18
999 years from June 11 1896 p. 1061. D eposits were called for and up to Oct. 1919 "a large majority
Metropolitan 8t. Ry., now New York Rys., for defaulted, Judge Mayer or- had been deposited with the committee. V. 109, p. 1610. Compare
due Dec. 26 1918 having been lease and return the line to V. 108, p. 2023; V. 109. p. 1273.
but the rental
this
dered the New York Rye. Co. to terminate
Committee for Lexington Ave & Pavonia Ferry 1st 5s.—F. J. Fuller, N. Y.:
V 110.e 360 Dividends from rent80 B'way, N. Y. City.
the company effective Jan. 31 1920
discontinued since ct. 1918 due to non-payment A R Herr, Reginald Foster; Sec., Chas. E Sigler,
als of street railway lines
Depositary: Central Union Trust Co., New York. V. 110, P. 2658;
of rentals in question.
V 111. p 294
Commission.—V. 114, p. 1287.
Objections to Valultion of Transit
Committee for Columbus & Ninth Ave. RR. 1st 5s.-0. Robert Adams,
of co., see V. 114. p. 410, 854.
Depositary:
For bal, sheet and statement by President
net, after taxes, Frank Colman, G. E Warren; Sec., Arthur N Hazeltine
EARNINGS.—For cal. year 1921. gross, $1.659,245:
Columba Trust Co. N. Y. V. Ill, p. 74: V. 114. P. 1286.
net,
mos. ending Dec. 311920: Gross, $1,403,929;from after
$101.677. For 11
Tort Creditors' Committee.—Chairman, Samuel Seabury, John V. Bouvier
City
electrically from March 1898
taxes, def. $69,631. Line operated
Jr.. Robt. H. Ernst, Charles Steckler. V. 108, p. 2241.
Hall to 135th Street.—V. 106, P. 499; V. 108, p. 79; V. 109, p. 1273; V. 110,
Valuation by Stone & Webster.—V. 110, p. 562.
P• 360: V. 114. p. 410, 854. 1287.




88

ELECTRIC RAILWAYS

ORGANIZATION.
-Incorporated on Dec. 29 1911, and at midnight on
Dec. 31 1911 took over the lines of the old Metropolitan Street Ry. sold at
foreclosure (V. 93. p. 1787) on Dec. 29 1911, per plan in V. 93, p.1533
(formally approved by Public Service Commission on Jan. 24 1912).
See V. 94. p. 977. The sale did not include the leases of the Central
Park North & East River RR., 28th & 25th Sts., the Second Ave. RE. and
Fulton St. RR. The latter road was abandoned In 1908 (V. 9e. p. 1675)
In 1913-14 acquired a half-Interest in the Bridge Operating Co., which.
under an agreement with the city dated May 21 1904. operates local cars
over the Williamsburgh Bridge. With the Third Avenue Railway and the
Brooklyn Rapid Transit Co. controls the Brooklyn & North River RR.,
operating over Manhattan Bridge. (This line ceased operating on Oct. 4
1919).
On July 24 1918 purchased. with the P. S. Commission's approval, the
property of the Central Crosstown RR. (incl. lease of the old Christopher &
Tenth St. RR ) at foreclosure for $2.114,000. V. 107, p. 402, 501, 906.
On Nov. 30 1914 the Puolic Service Comm. authorized the company
to purchase the $600,000 capital stock of the 23d Street Ry. at $350 per
share and to issue first real estate & ref. 4s to pay for same. $507500 of
the stock has been so purchased. The authority was given on condition
that the company shall provide for an amortization of 20% of the face value
of the bonds, representing the discount on the bonds. Has acquired 8,536
shares of the stock of the Bleecker St. & Fulton Ferry RR. at $28 50 per sh.
Franchises.
-Most of the franchises are perpetual. In Oct. 1917 the co
rejected a franchise drawn by the city permitting the operation of a line
In W. 86th St. V. 105. p. 1618.
Proposed Consolidation, etc.
-Statement by P. S. Commissioner Nixon on
solution of the rapid transit problem in New York City is summarized
tinder caption "Rapid Transit in N. Y. City," in V. 109, p. 578. See also
V. 110. p 971; V 111. p 589. under same caption.
Merger Plan, &c.
-For plan of Transit Commission announced Sept.
30 1921. See V. 113, p. 1471.
Franchise Tax Decisions.-For decisions of Supreme Court Justices
McCall and Davis. reducing the assessed valuation of the special franchises
In 1910 and 1911 see V. 95. p. 1473.
Staten Island Transfers.-The arrangement made between the company
and the city for free transfers at the Battery to and from the ferryboats
and the cars of the New York Railways running to the Battery (see V 99,
IL 49) was passed in July 1914 by the Board of Estimate. No re-transfers
permitted and of each nickel the city received 2 cents and the company 3
cents. The plan took effect Sept. 15 1914, but was terminated on Sept. 15
1919 by the receiver for the company, who was authorized to take such
action by Federal Judge Mayer. V. 108, p 2433: see also V 109. p. 1180.
Fares-Transfer Charge Allowed.
-On July 7 1919 P. S. Commissinner
Nixon authorized the receiver to charge 2 cents for transfers at 99 of the
113 points where transfers had been given free. The receiver had applied
for authority to charge 3 cents for such transfers. V. 109, p. 172, 270. 371,
477. See also V 111. p. 189. A resume of the company's efforts up to
this time to obtain higher fares or relief in other forms and the attitude of
the city administration on this question will be found in the March 29 1919
number of this puhlication, page 83, under the caption. "Fares" A writ of
certiorari obtained on Nov. 17 1919 by Corporation Counsel Burr calling for
a review of Commissioner Nixon's action in abolishing free transfers on the
co.'s lines and on the lines of the B. R T (V 109. p 1987) was quashed by
Justice Greenbaum of the Supreme Court. on March 16 1920. V.110. p 1188
Suit under Adjustment Mtge.
-The suit brought by the N. V. Life Ins
Co. to recover unpaid interest on the bonds since Jan. 1 1912 (approx. $50
for each $1.000 bond. Incl. coupon due April I 1915) was dismissed in
1915, but G. B. Leighton of Boston, representing the bondholders' committee, Intertened (N• 100. p. 1349, 1918; V. 101. p. 1973). In Nov.1911
the Appellate Div. of the Supreme Court, reversing a lower court, rendered
a decision giving Mr. Leighton the full standing that the N. Y. Life Ins
Co. previously had in the case
-In June 1912 applied to the Public
Application to Issue Additional Bonds.
Seri. Comm. for permission to issue $754.000 let real estate and ref. 4s to
refund Metropolitan (;rosstown 5s. V. 94. p. 1627. Still pending.
On Nov. 1 1912 the P. S. Comm. authorized the issuance of $640.000 real
estate and ref. bonds (permission to Issue $1,050.000 having been asked) to
purchase new stepless cars. V. 95. p. 1207. None of these bonds is included in the amount In the table. Justice Greenbaum in the N. Y. Su
preme Court in June 1914 granted a writ of certiorari to review the order
of the P. S. Comm. authorizing only $6411.000 bonds. V. 98. p. 1994.
Matter is still pending
Final Distribution to Metropolitan St, Ry. Shareholders.
-V. 103. p. 1980.
Payment of Met. St. Ry. Gen. & Coll. Tr, M. Bonds.
-V. 106, p. 1344.
For distribution of sum received by this co. from the settlement of the
Metropolitan St. Ry. receivership. see V. 105. p. 2272.
Guaranty Decision.
-In May 1917 the U. S. Supreme Court affirmed trie
decision of U. S. District Judge Hough, of New York, dismissing the action
brought by the bondholders' committee of the old 28th & 29th Streets RR.
(property foreclosed and now known as Mid-Crosstown Ry.) against the
New York Rys. Co. on the ground that the Federal Courts had no jurisdiction. On Nov. 14 1918 a settlement agreement was made with the bondholders' committee and the litigation (case had been carried into the State
Court) terminated.
Interest. Outstanding. Maturity.
STOCK AND BONDS- Date
$17.495.060
Stock $17.500.000 ($100)__ __ _ ___4 J-J
18.061,2'10 Jan 1 1942
let real eat & ref mtge gold! 1912
c*&r•tfl Guaranty Trust Co., New York, Trustee.
(see text)
Convertible scrip
2.250
4%
30.609,487 Jan 1 1942
5 A-0
Adjust Inc M 133.000,000 RI 1912
non-corn (see text)c•&rstflFarmers' Loan & Trust Co.. N. Y.. Trustee
First real estate & ref. and adjustment income coupon bonds are to denorn
of $1,000: registered bonds are for $1.000. $5,000 or $10.000. Int. on both
!agues payable at office of company or its agency in New York City.
&Lexington Ave & Pavonial 1893
5 g M-S
5.00(1.000 Sept 1 1993
Ferry let M gold_ _c•&rntf Interest at office of company in New York.
3.000 noo Sept 1 1993
5 g M -S
aColumbila Sr Ninth Avenue 1193
first mortgage gol(Lc&rntfJ Columbia Tr. Co., N. Y. City, Sub. Trustee.
350000 April 1 1919
5 A-0
Fy lst gu $350.0(t041.000) 1889
afilo
1.500.0110 July 1 1924
5 J-J
Broadway Surf RR first mtge_ ___ __
250.000 Nov 1 1922
6 M-N
aCentral Crosstown first mtge 1882
400.1)00
13111e payable J uee 30 1918_ _ __ _
Compass?, separately operated1.000.000 April 1 1995
5 A-0
a34tb St. Crosstown first mtge 1896
Lessor Com pantes5 g J-D Z38.150.000 Dec 1 1943
Broadway & 7th Ave con mtge 1893
4 J-J
700.000 Jan 1 1950
Bleecker St & Ful Fy first mtge 1876
4 A-0
210.000 Oct 1 1923
Christopher & 10th Sus 1st M_ 1898
6 F-A
750.000 Feb 1 1929
*Eighth Ave certs of Indebt_ _- 1914
1.500.000 Jan 1 1962
Twenty-third St ttR nutge___- 1912
5%
a Int. on these bonds paid at office of company. 165 Broadway N. Y.0
• Interest on the $750.000 certificates of Indebtedness of the Eighth Ave
RR. is paid out of the $215.000 rental which the New York Rya. pays the
Eighth Ave. RR. (but see under separate heading above). z There are also
outstanding $1,500 000 B'way & 7th Ave. RR. 1st M. 5s which fell due in
1904 and are all held by New York Railways.
First real estate and refunding mtge. is not limited as to amount of autb.
Issue, but further bonds may lite issued to refund or acquire underlying
bends, subsidiary bonds and other bonds, any obligations secured upon
mortgaged or leased properties; to acquire securities of other companies to
be pledged under mtge. and for add'ne, exten's and Inuits. See purposes
for further issue in full in V. 94, p 977. Red. on any int, date on 12 weeks'
notice, at 105 and int. See V. 94. p. 977. Bonds are listed on N. Y. Stock
Exch. V. 94. p. 827. 977; V. 101, p. 2145.
Div. on Income Bonds -Initial div. of $7 71(0.771%) paid Oct. 1 1912
(Lea%)
(V. 95. p. 544). In 1913. April, $22 50 (2)4%); Oct.. $16 38
In 1914. April. $23 45 (2.34%); Oct., $12 88 (1.288%). In 1915, April.
$17 89 (1.769%); Oct., $13 70 (1.37%). In 1916. April $31 94 (3.194%)•
Oct., $1981 (1.981%). None since. See V. 106. p. 929.
Lexington Ave. A Paronia Ferry 5s and Columbus & Ninth Ave. 5s were
,
fully described in V. 60. _p. 1146. Both were guar. and later assumed lis
the Metropolitan Street R y. Co.(now New York Railways).
Christopher & 10th St. 1st 1 4s.-Originally fell due Oct. 11918, but were
extended for 5 years to Oct. 1 1923
Amortisation Fund.
-On Dec. 10 1912 P. S. Commission modified Its
order of Feb. 27 1912 (ries) V. 94. p. 698) by striking out the provisions
requiring the setting aside each year of a specified amount as an amortization fund. as it found it did not have power to make such requirement. It
re-affirmed, however, its order requiring the setting aside each month.
beginning Jan. 1 1912, for maintenance and depreciation of a sum at least
equal to 20% of gross operatiee revenue for such month. V 95. P. 1608'
V. 94, p. 608. On Jan. 18 1918 the Appellate Division of the Supreme
Court dismissed the writ of certiorari granted by Supreme Court Justice




[VOL. 115.

Platzek on April 17 1913 to review the order. V.
the N. Y. State Court of Appeals reversed the 106. p. 396. In May 1918
Division. V. 106, p. 2560. An application for a decision of the Appellate
modification of the order
so that It should provide for the setting aside of 20% of
revenue only instead of 20% of the gross operating the gross passenger
by the P. S. Comm. on July 27 1915. V. 101. p. 370. revenue was denied
Adjustment Income Mortgages are redeemable on any
whole but not in part at par and Int. Holders of Jan. 1 or July 1 In
shall have the power, by vote of a majority thereof, toadJust. mtge. bonds
elect one
majority of the members of the board of directors until the full less than a
55
shall have been paid to holders annually for 3 successive years, Per ann.
thereafter, during a like period, whenever a failure to pay such and again
annual int.
shall occur. During such periods, also. the holders of said bonds
shall have
full power In respect of all other questions, upon which
stockholders may
rote, to cast one vote for each $100 of the principal of the bonds held
by them.
V.94, p. 977. Bonds are listed on N. Y. Stock Exch. V.94,
P.827. 977.
REPORT.
-For fiscal years:
June 30 Yearb1919-20.
1918-19.
1917-18.
Revenues
Passenger fares
$10,934,325 $11,606,853 $11,615,248
Advertising privileges
187.379
225,000
262.500
Rentals
27.359
35,898
Miscellaneous
125'1.603
23
6
554
340
Total operating revenue
$11,248,570 $11,859,766 $11.13 6
9,98
Non-operating revenue (net)
576.775
554,078
627.118
Total revenues
$11,825,346 $12,413,844 $12.541.103
Total operating expenses and taxes $12,474.731 $11.165,773 39.295.646
Net income
def.649,386
1,248,071
3,245.457
Deduct-Interest
1,396,222
1.310.538
1.286,296
Rents
1,739,394
2,066.209
2,098, 04
13 98
89
Other
307 890
46.282
Total fixed charges. &c
$3.443.506 $3,423.029 $3,399,091
Net corporate deficit
$4.092,892 $2.174.958
5153,633
b The 8th-Ave. RR. Co. from Aug. 1 1919, the 9th Ave. RR. Co. from
Oct. 1 1919 and the N. Y. & Harlem RR. (surface lines) from Feb. 1 1920
report separately. Figures shown here include the foregoing cornpaniess
but no attempt has been made to eliminate inter-company transactions.
Latest Report.
-For year ending June 30 1921, total rev.. $9,391,115:
net, after taxes, $205,641; Int., rents. &c.. $2.825,131; net corp. def
$2.619,490.
For cal. year 1921, gross, $9,526,850; net, after taxes, sur.287. in
1920, gross. $8,688,626; net, after taxes, def.$699.512.
For results of operations under receivership. see reports appearing la
.111. p. 1746; V. 112, p. 1024, 1137; V. 114. p. 849.
ROAD.
-On June 30 1918 owned 42.756 miles of track, of which 29.580
miles were underground electric and 13.176 miles storacre electric; leaned
96.646 miles (92.788 underground electric and 3.858 storage electric); operates under agreement 11.615 miles (11.138 underground electric and 0.477
storage electric): total track, 151.017 (133.506 underground electric and
17.511 storage electric. As of June 30 1920 the receiver stated that of this
mileage only 95 miles remained in his possession and of this only FIO miles
were being operated. V. 111, p. 1746. Owned and controlled. 1.977 passenger (1.861 electric and 116 storage battery), and 141 service (130 electric
and 11 horse); total, all cars, 2,118. Main power station equipped with 11
3,500 k. w. generating units and 5 sub-stations and distributing systenss.
Including 1,615 miles of single-power transmission ducts.
OFFICERS.
-Receiver. Job E. Hedges; Gen. Mgr. for receiver. Prank
Fledley: Sec. for Receiver, F. T. Wood; Treas., J. H. Campbell; Gen. Atty.
for Receiver. J. L. Quackenbush. Gen. officers 165 Broadway. N. 17,-scr,
112. p. 1978, 2414, 2643, 2749; V. 113, p. 293, 629, 961, 1471, 2406: V. 114,
1:1• 306, 738, 849, 1063, 1180, 1287, 1535, 1766, 2116; V. 115, P. 1429.
Comoanies Controlled by New York Railwa.vs.
-Horse and electric.
(1) Bleecker Street 5, Fulton Ferry RR.
The New York Railways owns 8,536 shares of the company's stock.
ORGANIZATION.
-Chartered Dec. 12 1864. Leased to 23d Street
Railway Co. Jan. 10 1876 for 99 years: lease assigned to Metropolitan Street
Sy. (now New York Rys.). Rental is Interest on $700.000 bonds. 14%
oer annum on stock, taxes and corporate expenses of $600.
i iest..
Par. In ter 7o 1-.7 Outstanding.jan turix .
w0
STOCK ANI) BONDS-579w.no.0005ee tle,5ti
Mal
ty
it ck
o
let M gold, were formerly 78,f 1.000 4 g J-J
extended in 1900 as 4s _ ntflOuaranty Trust Co.. New York. Trustee.
Of the 5900.000 stock outstanding. 5853.600 Is owned by the N. Y,
Railways Co.
-V. 90. P. 913; V. 104. p. 1700.
ROAD.
-Owns 5.25 miles of track.
1898, 2450; V. 105, p. 72. 496, 1522, 2364.
-Change to underground electric
(2) Broadway & Seventh Avenue.
sccurred in Aug 1901.
Receivership.
-In Oct. 1919 Job E. hedges was made receiver for the co.
for the purposes of the foreclosure suit noted below. V. 109. p. 1366.
-Chartered May 26 1864. Leased May 13 1890 for
ORGANIZATION.
unexpired term of charter ,and for any extensions of the same. to Houston
West St. lir Pavonla Ferry. now New York Railways. Franchises perpetual.
RENTAL.
-Interest on bonds and 10% on 52,100,000 stock, of which
New York Rya. owns 51.400.200. besides taxes and corp. expenses.
The following committee has been formed to protect the interests of the
minority stockholders:
Stockholders' Committee.
-C. Robt. Adams,Joseph Wallker, Jr., Harrison'
K. Bird, Harry M. Curtis and Geo. C. Warren. Depositary: Columbia
Trust Co., 60 B'way, N. Y. City. Deposits have been called for. V.
110, p. 464; V. 109. p. 2355.
Committee for South Ferry 1st M. 53.-C. W. Beall, P. C. Krauthoff;
Sec., Fredk S. Burroughs, 56 William St., N. Y. City. Depositary, Central Union Trust Co., N Y City. V. 108. p. 1166.
-Chairman, Ffarold B.
Committee for (Tway c% 7th Ave. hat Cons. Mtge. 5s.
Thorne; C W. Benson. Frank Coenen, Robt. Kelly Prentice, Joseph P.
Bradshaw, Roger H. Williams; Sec., sas. F. McNamara, 60 Wail St.,
N. Y City. Depositary, Metz opo.itan Trust Co.. N. Y. Deposits have
been called for. V. 112, p. 2747; V. 113, P. 70, 847.
Committee for Broadway Surface RR. 1st Mtge. 5s.
-Chairman, Louis V.
Bright, Edwin C. Jameson, Henry L. Finch; Sec. Robert Smyth, 160
'
Broadway, N. Y. City. Depositary: Lawyers' Title & Trust Co., 160
Broadway, N. Y. City. V. 113, p. 2310. Deposits have been called for.
-The proposition of Receiver Hedges to extend the $350,000
Foreclosure.
South Ferry 1st 5s, due April 1 1919. for one year (with interest) was
declined. On Sept. 30 1919 the Guaranty Trust Co. N. Y., brought suit
in the U. S. Dist. Court to foreclose a mortgage for: $1.500.000 made in
1883 by the B'way & 7th Ave. RR. Co.. of which it is now successor trustee.
The bonds secured by this mortgage fell due Juno 1 1904 and were then
taken up without cancellation and later, In 1912. when the N. Y. Rys. Co.
made its 4% 1st Real Est. & Ref. Mtge. they were pledged as part security
thereunder as shown in V. 94, p. 978. This foreclosure suit we are informed
was brought for the purpose of protecting the right of the 4% bonds as
against the $350,000 mortgage of the South Ferry RR. This last mortgage is the only underlying security of the N. Y. Rya. Co. which is in default
and the holders of the bonds issued thereunder have been threatening
foreclosure; hence this counter suit. V. 109, p. 1366; V. 113, P. 1154.
Compare V. 109, p. 1273.
Par. Interest.
STOCK AND BONDSOutstanding.
Maturity•
Stock 52,100.000 ($100)
$2.100,000
$100 10 Q-J
See text'
1.
5%
_
1st M (all held by N Y Rys)
roadway Surface first guar.._ 1,000
5 J-J
"
20
July 1 1924
500
B9
(14
South Ferry first guaranteed
350.000 Apr 1 1919
Sway & 7th Ave cons tntgel 1.0 0
A5 g P-D
8.150.000 Dec 1 1943
1. 80
0
of 1893 for $12.500.000 ntfl Int. at Guaranty Trust Co.. N. Y., Trustee.
Of the consolidated mortgage of 1893 for $12.500.000, 53.350.000 is re
reserved to retire at maturity the other bonds in the table. The Broadway
Surface 2d mtge. bonds, due in 1905 (all held by the New York Rye. Co.)
were canceled In 1914. The consols were guaranteed, principal and intereft under the terms of the mtge by Metrop Street Ily. Co.. since foreclosed. They cover the road owned in fee and also the right to use the
tracks on Broadway from 15th St. to the Battery; they are also a direct lien
on the cable (since changed to electricity). &c. Closed issue except for
refunding purposes
The Bway. & 7th Ave. assumed the Broadway Surface let M. bonds for
31.500.000 and payment of int, on the 2d M. bonds for $1,000,000 (now
retired) for use of tracks between 15th St. and the ferry. South Ferry 5s
assumed under lease
-V. 111, P. 1851; V. 1112,
ROAD.
-Comprises 10.31 miles of track.
p. 2747; V. 113. p. 70. 847. 1154, 1250. 2310.

OCT., 1922.]

ELECTRIC RAILWAYS

89

tective committee (see above). For details see V. 109, p. 2357. The N. Y.
-Electric.
(3) Christopher & Tenth Streets RR.
Supreme Court ordered the sale of the property under this suit on Sept. 1
ORGAN EZATION.-Chartered April 251873. Leased to Central Cross- 1921. but sale has been postponed to Dec. 11921. V. 113, p. 732. 105.1.
town (purchased July 24 1918 by New York Railways at foreclosure)
-As a result of foreclosure proSale of Real Estate Under Foreclosure.
interest on
April 26 1890 for unexpired term of its charter at 8% on stock,
ceedings against the co., the southwest corner of 2d Ave. and 127th St., a
exp
bonds, taxes. ,Sec., arid not more than $1,500 per ann. for organization July
vacant plot, was sold at auction in 1921. Compare V. 112. p• 163.
Crosstown RR. was purchased by the N. Y. Rys. Co. on the
The Central
8euteuient.-On Dec. 21 1915 Supreme upurt Justice Wititaker auth.
are all owned by
24 1918. The company's $210,000 1st mtge. bonds on Oct. 1 1918, but the receiver to settle with the New York City Railways Co., the suit against
N. Y. Railways Co. The bonds originally matured of "N. Y. Rys. Co.." it and its predecessor, the Metrop. St. Ky., on payment to the Court of
Oct. 1 1923. See annual renort
were extended to
5548.352 for breaking the lease, amount due on inter-receivership account.
In V. 107. p. 1745. and V. 107. P. 1836.
&c. See V. 101, p. 2146.
Par. Intere.st. Outstanding. Maturity
In May 1917 petitioned the P. S. Comm. to "establish such new regulaSTOCK AND BONDStext
See
$650.000
$100 8 Q-J
tions in regard to rates, fares and transfer privileges, or otherwise so to
Stock ($100)
210,000 Oct 1 1923 exercise its authority as to make possible the earning of a more adequate
extended inj 1.000 4 A-0
First mortgage
York, Trustee.
return upon the capital invested."
1898 (V. 67. p. 370)---ntf'Guaranty Trust Co., New
In May 1918 the P. S. Comm. adjourned the hearings on this applica-V. 107. p. 905. 1836.
-Track owned is 4.15 miles.
ROAD.
tion following the decision in the Rochester Fare Case (V. 106. p. 1461),
-Underground-trolley.
Eleventh Ave. RR.
(4) Fort George &
in which it was held that the Comm. was without power to grant increases
-Incorporated Nov. 19 1898 In the Interest of the
ORGANIZATION.
In fare where the companies were bound by franchise obligations to a
11th Ave
maximum fare.
Met. St. Ry.(now N. Y. Rys.) to build a line from 130th St. and 11th Ave
St. and
Objections to Valuation of Transit Commission. V. 114, p. 1288.
along 11th Ave to 175th St. and another from 145thconstructed 2.06 rn.
easterly through 145th St. to the Harlem River. Has
-Chartered Jan. 21 1853. Was formerly leased to
ORGANIZATION.
in. of track on 145th St. between
projected on Broadway and Is operating 1.69
‘let. St. Ry. V. 66. p. 185.
Lenox Ave. and Broadway. Stock auth., 53.000.000, all owned by the
Interest. Outstanding. Maturity,
Par.
SECU KIT1ESp. 1109. Franchise granted Dec. 1839 for 25 Yrs.,
Now York Rye. V. 87,
See text.
51.862.000
9 Q-M
receipts to be
5100
Stock $2.500,000 ($100)
with privilege of renewal for another 25 years. 4% gross yeaes and 10%paid
See text.
the
3.140.
cntf 1,000 s000
Receiver's certf6 A-0
first 5 years. 6% the second 5 years, 8% the third 5
the
0
11 Ia o 5 ,r 0
Ca.0 ble at 1J 0 and Interest.
The road to become the property of the city
remaining years of operation.
payment
89.000 Jan 1 1909
Debentures of 1889_____-nt
at the termination of franchise •(whether original or renewed) upon
5.631.000 Feb 1 1948
First cons M gold 57.000.0001 1.000 5 g F-A
for the same In accordance with definitely prescribed rules.
1898 guar p & I end _c•tfl Guaranty Trust Co., New York. Tru•tee.
-Horse and electric.
(5) Forty-Second St. & Grand St. Ferry RR.
Of the new first consolidated 5s, $1,389.000 were reserved to retire securi-Chartered Feb. 18 1863. Leased to Met. St. Ry
ties of earlier date. V. 66, p. 900. For mistake of trustees in exchanging
ORGANIZATION.
renewals some 5s of 1909 for consolidated 5$ of 1948, see V. 76, p• 654.
Co.. now N. Y. Rys.. from April 8 I893 for duration of charter and
thereof, at 18% on stock, all taxes and corporate expenses. Stock. 5748.000
-For
0
A3
EARNINGS.
RNINGS.-For fiscal year ending June 30:
($100). of which $400.000 is owned by N. Y Rys. 1st M.8% bonds (due
Surplus or
June
TotalNet (after
1909) of 42d St. & Grand St Ferry RR.,formerly deposited under Met. St
Rents,
Deficit.
Interest.
Year- Receipts.
Ry. ref. mtge.. have been canceled.
$1,271 def.5290.652
$188.400
Tare0
"
1920-21____$961.026 def.Sl0 .981
1.794
def.251.693
-V.89. p. 993; V. 106. P. 499.
def. 61,498188.400
1919-20____ 870,681
-Owns 5.77 miles of track.
ROAD.
For calendar year 1921, gross, $986.664; net, after taxes, def.$91,835.
-Underground trolley •
(6) Sixth Avenue R R.
-On May 12 1922 Federal Judge Mayer appointed Job E. In 1920. gross, $867.229; net, after taxes, def.$129,674.
Receivership.
ROAD -Track operated, 23.9)) miles.-V. 107. p. 1386; V. 109. p. 1462.
receiver for the company by extending the original order designating
Hedges
a receiver for tho Now York Railways. See that company above. V. 114. 2357; V. 110, p. 563; V. 112, p. 163; V. 113, p. 732, 1054; V. 114, p. 1288.
p. 2117; V. 115. p. 309.
Ave.
-Underground trolley.
-In Sept. 1919 Judge Mayer stated that the Sixth being
THIRD AVENUE R Y.
Rentals Unpaid.
line has continued to be operated without a single dollar of rental
-Incorporated in New York on Apr. 20 1910 and on
ORGANIZATION.
paid."
tan. 1 1912 (Court of Appeals having affirmed the decision of the Appellate
-Leased to Met. St. Ry.. now New York
Division of Supreme Court, which reversed the order of the Public Serv.
ORGANIZATION.
Rys.. Comm., refusing to approve reorganization plan; subsequently approved by
is 731% on stock
Feb. 1 1892 for 800 years. Rental $145,000 per ann.,which dividend of 38%
extra
the Comm. on Jan. 171912. V. 94. p. 2091 V. 93, p. 1484: V.92. p. 1837.
besides all taxes. Stock. 52.000.000; par $E00. ofAn
stable property at Sixth
1567; V. 91, p. 338) took over the propertee of the old Third Avenue RR.,
was paid in Aug. 1901 out of proceeds of sale
(track operated). sold at foreclosure on Mar. 1 1910. V. 93. p. 1535.
Ave. and 43d St. Road, including Lenox Ave. branch
underground trolley all the
owes all or practically all of the stock of the following. Union Ry., Dry
12.14 miles. In Feb. 1899 began operating 114, p. 2117; V. 115, p. 309.
Dock East B'way & Battery, 42d St. Manhattanville & St. Nicholas Ave..
way to Battery Place. V. 106,p. 500.822; V.
Yonkers RR.. Westchester Electric. Southern Boulevard. KingsbrIdge RY•,
-Fourth Street Crosstown Ry.-Underground electric.
(7) Thirty
New York City Interborough. New York Westchester & Connecticut
ORGANIZA.TION.-Ohartered March 18 1896, being a consolidation of
,
Craction Co.. Mid-Crosstown Ky. Co., Inc., Belt Line Rs Corporation,
Ferry & Eleventh Avenue
Pelham Park & City Island Fly.. Bronx Traction Co. Third Ave. Bridge
the 34th Street Railroad Co. and the 34th StreetStreet Crosstown Railway
34th
Railroad Company. Entire stock of the
Co., Hastings Ry. Co., Inc., also the $1,487.000 outstanding 2d M. Ina.
under agreement dated
Co. Is owned by the New York Rys. Operated of the bonds.
bonds of 42d St. Man. & St. Nieh. Ave. Ky., the 52,161.000 bonds of the
Dec. 21 1896, guaranteeing principal and interest
N. Y. City Interborough Ry. and the $1,750,000 5% bonds of the lielt Line
Interest. Outstanding. Maturity. Ry. Corporation. With the N. Y. Rye., the Coney Island & Bklyn. HR.
BONDS- Date.
STOCK AND
($100)$1.000.000 _
and the Bklyn. Rap. Trans. Co. controls the Bklyn. & North River Itft.,
Stock
1.000.000 April 1 lig
5 A-0
operating over Manhattan Bridge. (This company ceased operating on
First mortgage ($1.000) guar! 1898
Oct. 4 1919. V. 109, p. 1461.)
prime & int by N Y Rys_ntfICentral Trust Co.. New York. Trustee.
V. 71. P. 135: V. 111. P. 794.
On Jan 7 1914 tne company applied to the P. S. Comm. for authority to
-Track owned is 1.86 miles
ROAD.
Issue 56.850,000 bonds on account of the cost of acquiring control of the
trolley.
(8) Twenty-Third Street Ry.-Underground
Belt Line Ry. Corp. (V. 96. p. 948, 1020. 1295). the N Y City InterborROANIZATION.-Chartered June 29 1872. Leased from Apr. 25 1893 ough Ry. Co. and the Mid-Crosstown RR and to pay for certain construe0
to the Met. St. Ry. Co. (now N. Y. Rye.) for the unexpired term of the don work See V.98. p. 74. A preliminary order was procured In Mar. 1914.
charter and for any extensions of the same. Rental is 18% on stock (in state the issue of 54.000.000 of these bonds against the purchase by the
default since May 1 1919), all taxes, assessments, water rents and charges. id Ave. Ry. of certain securities of the N. Y City Interborough and the
The New York Railways owns all of the debentures due 1906, all of the let
Belt Line Ry. Corp. (see annual report of 3d Ave. in V 99. p 1447). The
M. bonds due 1909 and $507.500 of the $600,001) stock, for which it gave Issuance of a further 52.020,500 of bonds was authorized Oct. 8 1915, which
$350 of its own 1st real est. & ref. 4s due July 1 1912 for each $100 of stock
were issued and purchased by the company as an investment for the
-The int. due July 1 1920 on the co's. Inapt. & ref. mtge. 5s
Interest.
lepreciation fund.
was not paid until Aug. 1920. V. 111, p. 897. No further information.
Valuation.
-For appraisal of system In 1918 see V. 106. p. 1462.
Maturity.
Interest. Outstanding.
STOCK AND BONDS- Date.
Transfers.
-On Nov. 1 1912 began transferring to the Second Ave. RR.
18% per an. ny way of the Belt Line Ry. Corp.'s 59th St. line
5600.000
18 Q-F
----Stock ($100) ---The last-named com250.000 Jan 1 1909 pany is now part of the Third Ave. Ry. system. Issuance of transfers dis6 J-J
1896
First mortgage $250.000
150.000 Jan 1 1906 continued Jan. 30 1921. On May 25 1917 applied to P. S. Comm. for pet
5 J-J
1888
Debentures (S1.000)
1.500,000 Jan 1 1962 mission to charge 2c. for transfers without further charge for a re-transfer.
5 g J-J
Impt & ref. mtge 51,500,0001 1912
_c•lBankere' Trust Co.. N. Y.. Trustee.
($1..000) gold guar_
In May 1918 the P. S. Cotton adjourned the hearings on this petition
& ref. mtge bonds are guar. p. & I. by N . Rys. Co
Bonds.- Die !wt.
following the decision In the Rochester Fare Case (V 10e. p 1461), in
and are red. In whole or In part at the option of the company or for the sink
which it was held that the Comm. was without power to grant increases In
fund on any Int. date at 107 and int. on 4 weeks' notice. Sinking fund of fares where the cos, were bound by franchises to a maximum fare. See
51.102.85. payable semi-annually, with accretions; when $400,000 bonds V, 106. p. 2650.
shall have been acquired they shell he canceled. Tax-exempt in N. Y.
On Jan. 25 1921 Federal Judge Hough signed an order restraining the
ROAD -Including 14th St., Bleecker St. and Canal St. branches, track city and State officials from seeking to prevent the 59th St. Crosstown
-V.100. p. 2011. line from discontinuing the exchange of transfers with other lines. V. 112.
4.21 miles. Rails, 47 to 113 lbs. standard gauge.
owned,
p. 470. The co, has, therefore, discontinued the issuance of transfers.
2168; V. 106. p. 500; V. 111, p. 74, 295% 794, 897, 2521.
V. 112. p. 746.
-A subsurface contact electric road
Objections to Valuation of Transit Commission. V. 114, p. 1288.
THE NINTH AVENUE RR. CO.
Merger Plan, ctc.-For plan of Transit Commission announced Sept. 30
-Chartered July 29 1859. The road was leased to
ORGANIZATION.
1921, see V. 113, p. 1472.
the Houston West St. & Pavonia Ferry RR., now New York Railways, for
Bus Franchise Asked.
-In July 1920 the co., on behalf of its subsidiary
99 years from March 12 1892, but on Sept. 26 1919 Federal Judge Mayer the Dyckman St. Transportation Co., applied for atith. to run A bus line on
ordered the receiver of the New York Railways to return the tine to its Dyckrnan St., Nagel Ave. and 10th Ave. at a 5-cent fare with a 3-cent
owners for Independent operation beginning Oct. 1 1919. Transfers are transfer charge to rne Thiel Ave line
V. 111. n TV).
now exchanged with the Sixth Avenue RR. arid the Columbus & Ninth
-See V. 114, P. 7167.
Statement by President Regarding Outlook.
Ave. RR. See V. 113. p.293. Compare V. 109. p. 1273.
ny
Maturity.
sTooli AND BONDS- Date. Interest. 0utsuieft010 july ee text7
-In July 1921 the company brought suit In the
Suit to Recover Rentals.
S 1
0
:
50 1,1. 0
518 590.(0
Court against the 42d St. Manhattanvine & St. Nicholas Ave. Ry. itock $16.590,000 ($100) _
Supreme
5 g J-J
g ($1.000)_tf 1887
and the Third Avenue Ky. to recover $12,000, representing rentals for the id Av RR 1st
2.90
60
1
Int. at Farmers Loan19&T.;00 JanCo., N. Y.
use of certain trackage said to have accrued from Oct. 3 1919 to July 1 1921.
4 J-J
First refund M 540.000.000 1911
Bee V. 113, p. 293, for details.
o.. 3 0
2.7 York. Trustee.
1 196o
•r•tf Int. at Central Tr.0 2 5N6 000
-J.
gold (see text). _ _ _cSc
Stock, $800,000. par $100; dividends Q.
Jan
5 A-0
Adjust Inc mtge 522.536.900 1911
-For cal year 1921. gross, $548,827; net, after taxes, def
EARNINGS.
gold (see text) ____c"&rstf Int. at U. S. Mtge. & Tr. Co.. N. Y., True.
$219.935. In 1920. gross. $418,731; net, after taxes, def.$150.725.
Stock and bonds all listed on N. Y. Stock Exchange.
St. to 126th St., total track owned and operated
ROAD.-Cortiand
-Coupon bonds of both issues are in denoin. $500 and $1.000,
Bonds.
16.235 tniles.-V. 101. p. 1080, 1273; V.113, p.293; V. 114, p. 739, 1064.
registered bonds are for $500 and 51,000 or multiples of 51 001) Of the
1st ref. bonds. 510,071,500 are reserved for underlying bonds and reSECOND AVENUE RR.
-Underground electric.
mainder for future extensions and improvements, under proper restrictions.
-In Sept. 1908 Justice Bischoff in Supreme Court appointed
Receivership.
George W. LInch separate receiver in suit by Guaranty Trust Co. to fore- Of the bonds reported outstanding, 52.520,500 are In the depreciation and
contingency fund at the disposal of the company. Redeemable on any
close consolidated mortgage.
At midnight on Nov. 12 1908 receiver
took possession of the property. Charles E. Chalmers is now receiver. Int date at 105 and int. on 3 mos.' notice. See V. 94. p. 706. Int. on
Div. on stock due June 1908 was defaulted. Default of int. on Income bonds is cum after Dee. 31 1912. Inc. bonds are red. as a7whole
v. parp.n .t.
but not in part on let day of any month on 3 MO4 notice at 94. a e1 60 1n
bonds occurred as follows: 1st (gen.) Mtge., Nov. 1 1908 (subsequently retired; V. 91, p. 1255); first consols. Aug. 1 1908; debentures. $320,000 have been purchased by the company. V. 102. p. 887. Adjust.
1908. A committee was formed to protect the interests of the Inc tutee holders to have full voting powers until full lot., Including
July 1
See
first consul. 5% bets. V. 87. p. 317, 1238 On Oct. 1 1910 Justice Amend amnia' . shall have been paid for five successive years
e
Dividends on (neater Bones.-Aninittal dividend of I T on the adjust,
In Supreme Court authorized receiver to issue 52.500,000 receiver's certfs
to retire 51.280.000 gen. consul 5s arid $500.000 receiver's ctfs. inc. bonds wee paid April 1 1913 for the 6 mos. and. Dec. 31 1912. V. 95,
to be used
D 136. Regular semi-annual dive. of 23i% each were paid to and inel.
due Oct. 1 1910. and for franchise taxes, Improvements and equipment
,
Apr 1917 In Oct. 1917 Paid I t(', Apr. 1914 int 0,1 NP41 V 1013p. o35.
V. 91. p. 948. In Jan. 1911 5500,000 additional certfs. were authorized for
p
paid to A .
Improvements and equipment. V. 92. p. 284. As these matured. various No ne3 % ril 1922, when 13.1% was paid. V. 114, p. 998. Oct. 1 1922.
other Issues were made from time to time. In Oct. 1913 53,200.000 1-year
-Initial quer, div. of 1% was paid Jan. 1 1916.
ess receivers" certifs were authorized to retire $3,140,000 falling due Oct. 1
Dividends on Stock.
1913. which have been extended from year to year. V. 105, p. 1310; V. sere
The Jan. 1,017 div. was omitted on ac•
S: Jilly 1%: Oct.. 1%
.sni. 2079. None since.
107, St• 1386. The interest due April 1 1918 on these cent's. was deferred count of the strike in 1916. V.
until May 1 1918 (V 106. p. 1578). October 1918 interest, was paid wess
Mites,
ROAD-Operated.
Miles.
due. V. 107, p. 1386. The Oct. 1 1919 int. was not paid when due
24.012
Third Ave. Ky. Co
26.800 Bronx Traction Co
V. 109. p. 1462.
ICingebridge Ilse Co
7,341 N. Y. City Interim ern. Ry. Co
the default in the payment of the Oct. 1 1919 int. on the 420 St. M.& St. N. Ave Ry_ 18.638 Southern Boulevard It It____ 39.472
Anticipating
10,205
$3.140,000 6% receiver's certificates, the following committee was formed. Dry Dock E. B. & B. RR
18.1.1.5 Westchester Elec, KR
39,662
In July 1919. to Protect the Interests of the holders. V. 109. p. 1462, 2357
RR
3.801 Yonkers Ky2
42 S
Belt Line Ry. Corp
4:
Receiver's certoceies.-Ohairman. George E. Warren: *Third Ave. Bridge Co.
Committee for 6%
3,631 N. Y. West & Conn. Tree__ 5,973
Herman D.
s/D
ea-Crosstown
m Parkelh
& City Isl. Ity35s3..8283
A. A. Jackson, Goo. E. Barstow, Jr.. 60 13way.. N.Kountze. J. F. 13
Co__.... 5.664 *P
94
Y. City, DeposiStay.. Arthur W. Hutchins.
Mitchell;
.
.
y.
Union Ky. Co. of N Y. City_109.932 Hastings
taries: Columbia Trust 'Jo.. N Y., and the Girard Trust Co.. Phila. In
7)
1919 52.787,000 (about 90, of these certifs. had been deposited with
Total
Dec.
* Cassel operating Aug. 8 1919. x Suspended operations Aug. 31 1919,
the committee. V. 109. p. 2357.
-On Dec. 16 1919 a summons and complaint In a suit
Foreclosure Suit.
-Owns 1.135; controls 510; total, 1,645 cars.
CARS.
for the foreclosure of receiver's certificates were filed on behalf of the Pro-




90

ELECTRIC RAILWAYS

[VoL. 115.

REPORT.
-Years end. June 30:
l
STOOK AND BONDS- Data.
Interest. Outstanding. Maturity.
1921-22.
1920-21.
1921-22.
1920-21. i Stock *1.000.000(8100)
$
.$1MO.000
$
$
1 First mtge gold *1.000.0001 1896
2
Total operxerv14,141,412 13,499,226 Interest rev__
5 A-0
1.000.000 April 1 1946
261.537
213,486
guaranteed
ntffBankers Trust Co.. New York. Trustee.
Total op. exp-10.555,026 11,037,607 Gross revenue 2,882,953
1,795,787
ROAD.
-Owns 42.826 miles of track.
Interest, rents,
-V. 107. P. 1103. 2009.
Net op.rev_ 3,586,386 2.461,620
&c
2,675,479 2,672,395
Taxes
964,970
879.319 Dividends
(5) Kingsbridge Railway.
ORGANIZATION.-Incorp. Jan. 25
Oper. Inc__ 2,621,416 1,582.301
Balance____gur207,474 def876.611 which are 4% of gross receipts for the 1898. The franchise, the terms of
first 5 years.6% for the second. 8%
°FM:MRS.-Pres., S. W. Huff; V.
-P., Leslie Sutherland; Sec., Garrow for the third and 10% thereafter, Is for 25 years, with privilege of
renewal
T. Geer; Treas., A. D. Sage; Acting Auditor, W. Farrington.
under certain conditions for another 25 years. At the end
term the
city acquires the property, paying for It In accordance of thedefinitely
Di RECTuktS.-Adrian Isello, Jr., A. R. Him Lieorge W.
with
Davison. prescribed rules for fixing Its
H.Palagano. W. Etnlen Roosevelt, John W. Platten, S. W Huff,
value. V. 69. to. 1248. Work on this line
Seaman E A Manic.' .1. N Jarvie Lionel F Straits. Edward Joseph Ft. was begun in July 1901 and completed in 1902. Runs from Amsterdam
M 13urcehard and Alexander S. Webb.
-V.111.p. 2521; V.112. P. 470. 746; V.. 113 Ave and 162d St. to Broadway and 225th St.. making 7.15 miles additional. Entire 29.600 stock owned by the Third Avenue
P. 72. 1472. 1983, 1979; V. 114, p. 948, 1288, 1767; V. 115, P. 646, 1101.
Ry.. which company also operates the property.
(1) Dry Dock East Broadway & Battery RR.
(_61 New York City Interhorough Ry.-A trolley road.
Receivership Terminated.-On Nov. 23 1917 the receivership
begun on
The Third Ave. Ry. owns $4.617.400 stock and $2.164.000
Feb. 1 1908 was terminated by a decree of the U. S. Dist. Court
lit M.bonds.
for the
Southern District of N. Y. V. 106, p. 715.
ORGANIZATION.
-Incorporated in New York on
the interest of the Interborough Rapid Transit Co.. to March 24 1902. in
OROANIZATION.-Incorporated Dec. 8 1863. Third
build an extensive
Ave. Ry. owns system of feeders for the
$1.198.000 of the stock. In Jan. 1906 began operating Grand St. line
subway
by afford street railway connections and elevated lints In the Bronx. and to
electricity. On Oct. 1 1911 changed from horse cars to
acmes the Harlem
storage-battery
Application for Authority to Eliminate Transfers. River bridges
cars on Avenue B and Canal St. lines. V. 93, p. 1105. On Oct.
-V. 109. p. 1366.
25 1912
received permission from P. S. Commission to electrify road on
STOCK AND BONDS- Date.
Canal St.
Interest. Outstanding. Maturity.
V. 95. p 1206.
Stock. $5.000.000 ($100) - 25.000.000
Refunding Plan.
-The plan dated July 9 1917 (V. 105,
First mortgage. 25.000.000:1 1905
411 M-N
2.164.000 May 1 1923
ing the entire debt of the company, except the general p. 497) for refundsinking fund, gold
mtge,
tf I U.S. Mort. & Trust Co.. N. V. trustee.
declared operative In Feb. 1918. Holders of deposit receipts bonds, was
for
Bonds.-Of remaining let M. bonds. $87,000 are
Indebtedness received upon presentation thereof to the Union cents of
in sinking fund and
Trust Co. $836.000 are In treasury.
of New York series 0 registered refunding bonds (convertible into
coupon
bonds) In the ratio of $59 10 series 0 bonds for each $100 par
ROAD.
-39.472 miles of track.
-V.93. P. 1191; V. 94. p. 279: V. 95. P•
value 544. 1274: V.
of certfs. of indebtedness. V. 106, p. 715. All the series "
109, p. 1366.
B" bonds and
650.839 of the series "0" bonds are owned by the Third Ave.
Railway
(7) Belt Line Railway Corporation.
o. V 107. p. 2004.
-Storage-battery and electric.
ORGANIZATION.-Incorp. at Albany
STOOK AND BONDS-.
Par.
Interest. Outstanding. Maturity
24 1912 to
the Central Park North & East River RR.,on Dec.forecloeure take over
Stock 21.200.000
sold at
2100 6 Q-F
on Nov. 14
$1.200.000 See text
1912 to Edward Cornell
General mtge gold 1892--ntf1 1.000 5 g J-D
p 1331.
950.000 Dec 11932 1913 was taken over by(V. 95.Ave Ry.1402: V. 104, p 1701). In March
Third
V 96. p 864 948.
rr' oan & Trust Co.. Trustee.
In Mar. 1913 P. S. Comm. auth the making of a mtge.
Gen refund mtge series B----------4 J-J
for $4.000.000
528,000 Jan. 11980 lit M. 5e and the issuance of 21.750.000 bonds
Gen refund mtge sec C_c&r 3 00&c
thereunder at not less than
-1Text
1,300,200
Bonds.
-Of the general ref. mtge. bonds, 81.500.000 are ser Jan. 1 1960 95. Entire stock arid bonds owned by Third Ave Ry.
A 5% bonds,
On Nov 7 1913 the P. S Oomm granted the joint application
Of which $950.000 are reserved to retire the general M. 5s.
of this co.
;550.000 may he iss.ted to acquire additional property and due 1932. and and the Third Ave. Ry to increase the auth stock from 3600.000 to $750.for betterments. 000 and for the issuance of $253.000 stock to the
but only upon the Joint consent of the holders of at
9 y .6.
payment
least 75% of the aggre- of advances for the purchase of storage-battery Third Ave. Ry pln135
u
gate par value of series B and series C bonds
cars
. V.
Bus Decision.
-See V. 114, ,p. 2467.
due notice and failure of holders of more than then outstanding, or after
25% of series B and C to
Abantlanment.-on April 17
object thereto. Series A hands are a prior lien and
preferred as to prin. & Comm. to abandon the portion1919 the company was auth. by the P. S.
of its East Side line from 15th St. to the
int. Series it bonds are a prior lien over, and preferred
Int over, series C bonds. Series C bonds to bear int. both as to prin. & Battery. V. 107 p. 2474. In March 1921 was auth. by the P. S. Comm
to and incl. July 1 to abandon the West Side line south of 42d St., In 10th
1925 at such non-curnlative rate..not exceeding 6. per ann as
Ave.. West St.. and
7
earnings per- other streets to South Ferry. The rails are to be
mit. On and after Jan. 1 1926 are to bear int! at the
fixed rate of 4% repaved. V 112 p. 1398. Compare V. 112. p.removed and the streets
with an additional 2% If earned. V. 105. p. 497;
1028
V. 106, p. 715.
STOOK AND BONDS- Date.
ROAD.-18.145 miles of track.
Interest. Outstanding. Maturity.
Stock $750.000_
_
$734.000
REPORT.
-See above.
lit mtge 24.000,040 gold redl 1913
5%
See text Jan. 1 1943
INDEX.
-V. 103. p. 239; V. 105. p. 497. 1522; V. 106.
an a whole at 105 _
tf(Central Truest Co.. N. Y.. trustee.
p. 715. V. 107
p. 1192.
Bonds are guaranteed by Third Avenue Ry.
ROAD -Owns road on 59th St , East and West. All dec. on 50th
(2) Forty-Second Street Manhattanville & St.
St.
Nicholas Avenue Owns 26 cars. V.
Ry.-A horse road, but Nov. 11 1900 changed to electricity
107. p. 2474; V. 112, p. 1028. 1398; V. 114, p. 2467.
. Operates the
Third Avenue Bridge Co.
(8/ Mid-Crosstown Railway Co.
On Sept. 11 1912 Judge Lacombe signed an order
-Storage-battery cars.
discharging the receiver.
Acquired by the Third Ave Ry late in 1913
V. 95. p 679
Nothing Is being paid on 2d mtge. 6s
-all of which are
Disconeinurd.-On Aug. g 1919 the co discontl
held by Third Avenue Ry.
.
the
due to Its inability "to borrow any more money.'nued109. running of can,
In Dec. 1910 Pub. Seri'. Comm. granted
V.
p. 578.
Judgments.
-In Nov. 1919 Judgments against the company, aggregating
line permanently by storage-battery power.authority to operate 110th St.
V. 91. p. 1766.
2231.188. had been entered In the Supreme Court by the Third
ORGAN IZATION.-Chartered Aug 29 1878. In
Avenue Ry.
and certain of its subsidiaries. V. 109.
Nov 1895 control
was purchased by the Third Avenue RR. See V.
P• 1793
OROANIZATION.-In
In Dec. 1899 began to use underground electric 61. p. 926.
system from Fort Lee est of the reorganization corp. In New York on Feb. 14 1912.1n the InterFerry to Boulevard. then to Fifty-ninth Street.
committee, as successor
Crosstown RR.. sold at foreclosure on Jan. 4 1912 to the 28th & 29th Ste.
32.471.300 stock and all the $1,487,000 outstandin 2d mtge.
(V. 94. p.
owned by Third Ave. Ry.; the remaining $113.000g2d mtge. Incomes are 1703, 2119. See plan of reorganization in V. 93, p. 1790. 69: V. 104. p.
bonds have
In Feb 1914 the I' S Cumin au
been retired.
and hold the 2150.000 stock of the ttiorized the Tn1rd Ave Ry to acquire
On June 21 1912 Pub. Serv. Comm. granted auth. to extend
for 30 years April 1914. in payment therefor. the Mid-Crosstown Ry. Co.. Inc.. and In
to Mar. 1 1940 at 5% the let M.fis matured Mar. 11910.
Third Ave. Ry. Co. Issued $180.000 of
V. 94. P 1695. bonds and gave Its 4% promissory note
for 3250.000.
STOCK AND BONDSPar.
Interest. Outstanding. Maturity
annual installments, and canceled claims amounting payable in three equal
Stock authorized $2.500.000_ _ $100
to $34,442 against the
Mid-Crosstown Co (V. 99. p 1447).
22.500.000
First mortgage gold l880tti 1.000 5 M-S
Stock, authorized and outstanding. 2150.000
1.200.000 Mar 1 1940
Red at 110 any lot date.
($100).
Interest at Cent. Trust Co., N.
City.Trus
ROAD.
-Track. 5.664 miles.
Second °Age income 68 1885 1.000 8% as earned See text
-V. 109. p. 578. 677, 1793.
Jan 1 1915
$1,600,000
tf Cent. Trust Co.. N. Y.. Trustee.
(9) Pelham Park & City Island Ry. Co..
Inc.
ROAD.
-18.638 miles of track.
Operation Suspended.
-On Aug. 8 1919 the co. suspended operations.
REPORT.
-See above.
-V.94. p. 1695; V. 95. p. 679; V. 107. p. 1192. V. 109, p. 677.
ORGANIZATION. &c.-Incorp. May
(3) Union Railway Co. of New York City.
-A trolley road.
1914 the Third Ave. Ry. acquired control. 10 1913 In N. Y. and on July 9
Auth. common stock. 2125.0001
ORGANIZATION.
-Operates from 129th St. and Third Ave. through outstanding. 545.000 Length of
road 3.283 miles. from Belden Point,
the Borough of the Bronx. and with subsidiary lines continuing thence
to Olt, Island to Eastern Boulevard. or New Rochelle Road. Operation
and through Mt. Vernon.
by
storage battery was begun Aug. 18 1914.-V.
119, 13- 610; V. 109. p. 677.
Owns $58.100 (all the outstanding stock) of the Bronx Traction Co.
New Franchises.
-On July 2 1914 the Board of Estimate and Apportionment granted the company a franchise to crows the Willis Ave. bridge over
FEDERAL LIGHT & TRACTION CO.
the Harlem River to 125th St.. and along 125th St. to the Fort Lee Ferry
ORGANIZATION.
-incorporated In 1910 In New York. Holds a conThe P. S. Comm. In approving the franchise exempted the company
trolling Interest In
exchanging transfers with the Third Ave and 42d St. M & St. N. from steam heat. Ice andthe following companies operating gam. electric lighting,
traction properties located In cities mentioned In
Ave
Companies at intersecting points In said franchise. V. 99. p. 50.
titles.
Albuquerque (N. M )Gas & El. Co. Las Vegas (N. M.)
Portion of•Line Ahandoned.-See V. 10. p. 1252; compare V. 113.
p. 72. Centr Ark•insas Ry. & Lt. Corp., Las Vegas (N. M.) Lt. & Power Co.
under caption "Third Avenue Railway.
Trans."a.
,
Hot Swim:ft. Ark.
Rawlins (Wyo.) Elec. Lt. & Fuel Co.
STOOK AND 13051)5
Par.
Interest. Outstanding. Last div..&c.
Hot Springs Street Ry. Co.
Sheridan (Wyo.) County Elec. 0o.
Stock ($100) all owned by 3d Ave.
Hot Springs Water Co.
$2.000,000
Springfield (Mo.) Ry. & Light Co.
First mortgage 1892gold__t1.1 .000 5 g F
1
Citizens' Electric Co.
-A
2.000.000 Aug 1 1942
Springfield (Mo.) Gas & Elec. Co.
Consumers' Gas Co.
lint, payable at Central Tr. Co.. N. Y. City
Springfield (Mo.) Traction Co.
Guaranteed Loans
Deming (N. M.) Ice & Elec. Co.
(
Trinidad ( 'ol.)F.I.Transtn.•RY.3
Westchester 1st M 91.1 13 St i$1.000 5g J-J
03118
Grays Harbor Ry. & Lt. Co.. Aber- Tucson (Ariz.) Gas.
500.000 July 1943
Elec. Light &
gold 1893
nttf Int. at Bankers Tr, Co.. New York. True.
deen. Wash. (V 86. p. 420).
Power Co.
Southern Boulevard RR 1st1
Hobart (Okla.) Electric Co.
5g
220,000 July 11946
Tucson (Ariz.) Rapid Transit Co.
gold 1895
tf Central Trust Co.. New York. Trustee.
The entire capital stock and all the underlying bonds of all
Yonkers R Ft first mortgage
of the above
See below
19 companies.except the $1,215,800 pref. stock
ROAD.-Ooerates 106.932 miles of track.
bonds of the Central Arkansas Ry & Lt Corp.. and $1,816 000 1st lien
$781.100 preferred stock
and $1 999.500 bonds of the Springfield Ry & Lt. Co. and
REPORT.
-See above. V. 99. p. 50, 1971; V. 113, p. 1252.
of bonds and $86,050 stock of Tucson Rap. Tr.. have been $100 par value
acquired. See
description of properties In V. 90. p. 1490.
-A trolley road.
(a) Bronx Traction Co.
Tucson Rapid Transit Co.
ORGANIZATION.
-See • New Franchise" In
-Incorporated on May 12 1904. and is a consolidaIn the early part of 1913 sold the Montrose(Colo.) V. 99. p. 1912.
tion of several small companies. See V. 78. p. 2333. Entire stock owned
In Dec. 1913 2725.000 10 year gold notes were issuedElec. Lt.& Power0o.
by Union Ry
(auth.• 810.000.000.
;ee below) carrying
STOCK AND BONDS- Date. Interest, Outstanding. Maturity. entitling holders to an equal amount of common stock option warrants
obtain such stock at par any time prior to
Stock $585.100 ($1OO)_
Dec 1 1923.
358.100
See also V 97. it. 1583. 1822. In June 1914 a
---further $715.000 of these
-Owns 24.042 miles of track, operated by Union Ry..from Bronx notes were Issued at 6%.
ROA D.
Fares -lit Jan. 1921 the N. M. Corp. Comm.
River by Went Farms Road to Westchester Village; from Bronx River by
auth. the Las Vegas
Southern Westchester Turnpike to Westchester Village; from Main St., Transit Co.. a subsidiary to Increase
its fares from 6 to 8 cents. V. 112.
es
Westchester Village. to Eastern Boulevard. and from West Farms Road tO p. 562. See also V. 114. p. 1890.
Bleecker St. Standard gauge; 109
Jitneys Restricted.-ln Aug. 1921. the City Council
-lb. rails.
of Aberdeen. Wash.,
passed an ordinance barring jitneys from all streets served
by lines of the
-A trolley road.
(4) Yonkers Railroad,
Grays Harbor Ry. & Lt. Co.. a subsidiary. V. 113. p. 1052. Compare
In July 1912 Supreme Court of Westchester County made an order dis- V. 113. p. 960.
charging the receiver. V. 95. p. 112.
Financial Readjustment Plan.
-On Jan. 11 1922 the stockholders approved
Operating Agreement with Union Ry.-On May 26 1911 Pub. Serv. Comm
the plan of recapitalization outlined in V. 113, p. 2719, under which
the
approved the terms of an agreement'whereby cars of the Yonkers RR
company (1) declared a stock div. of
the 6% cum. pref. stock, paywould run over certain tracks of the UtIon Ry. to the terminals of the New able In like stock, thus clearing up all42% on
accumulated diva.:
subway and elevated liner. This reduced from 15 to 10 cents the 000 new fi% cum. 1st pref. stock, with priority over and (2) auth. S10.000,York City
same voting rights
fare from Yonkers to lower Manhattan. restoring the old rate as before the as 6% pref. stock, and red, at any time at $110: (3) changed $5.500.00
0
coin. stock from $100 par to 55.000 shares of no par value: (4)
breaking up f the Metropolitan Street Ry. system. V. 92. D. 1245. 1438
modified
Fares.- In March 1919 the Yonkers Board of Aldermen allowed the co. terms of the 30-year 1st.Mtge. 55 so as to nrovide for an increase In the int.
increase fares by 5 cents outside the city limits of Yonkers. On May 26 rate not to exceed 73i%. Sec., &c.; (5) was auth. to create a gen. & ref.
to
mtge. to secure bonds. notes or debentures. For full details of
1. 919 Judge Morschauser in the N. Y. Supreme Court at White Plains, N.Y., V.
plan, see
113. p. 2719; V. 114, p. 197, 335. 917.
dismissed the suit of a taxpayer for a mandatory injunction to restriin the
In Jan. 1922 the company issued $2,590,000 stamped 30-year let
company from collecting a 10-cent fare. V. 108 n. 1276. 1938. 2242.
lien
bonds of
ORGANIZATION.
-The Tinton Ry. guarantee. the 21.000.000 bonds. , Marc 4.1 1912 bearing int. at 6%, to retire $1,500.000 6% debentures due
v. uh p. 1.1,2, 3o5 und current debt, and to increase working
19 97, td .
f
capital.
p. & 1. V. 67. p. 635. $992.500 stock owned by Third Ave. System.
I




OCT., 1922.]

ELECTRIC RAILWAYS

91

Maturity. ern Pennsylvania, midway between Pittsburgh and Cleveland. The PennInterest. Outstanding.
STOCK AND BONDS- Date.
sylvania-Ohio Electric Co. also owns urban and interurban railway lines In
47.500 shs.
Common 55.000 shares
the same locality. Also controls the Republic Engineers, Inc.
8%
1st prof $10,000.000($100 cum) __-text
Interest. Outstanding. Maturity.
$3.550.000 See
Date.
Q-M
,
STOCK AND BONDSPref S5,500.0006% cum ($10(/
See text
46.206.000
3.963,500 Mar 1 1942 Common 17,500.000 ($100)5 M-S
$50.000,000 1912
First lien s f M
trustee.
N.
5.191.400 Apr'20. 13
Q-J 15
gold $500 & $1,000)____c* Columbia Trust Co.,2.590,500 Mar 1 1942 Pf6% cum $10.000,000(6100)
Y..
6 M-S
Stock -Common stock is held in voting trust
1912
Stamped 6s
546.200 Dec 1 1923
quer. was paid from organization to and incl.
-On pref. 1
Dividends.
10-year gold notes $10,000,1 1913 6%
634.300 Dec 1 1923 April 1920. No action was taken on the June 1920 dividend. V. 110. p.
7%
1913
000
Columbia Trust Co., New York, trustee.
2568. None since. Quarterly dividends on common of 1%. paid from
See text
Fan. 1917 to and incl July 1918. Oct. 1918 dividend omitted. V. 107.
General mortgage
outstanding are 5s
-Of the first lien sinking fund mtge. 33.963.500in part payable on p. 1193. None since.
Bonds.
REPORT.-Consoliclated income account of subsidiary cos. (inter-co.
stamped 6s are all or
and $2,590,500 stamped 6s. The
105 up to and incl. March 1 1932: at Items eliminated) (1920 report in V. 112, p. 1519)' Dies.on Sub Bal.,
any int. date on 30 days' notice at 1935, and thereafter at 102. V. ill, Calendar
DeducOther
Net. after
Gross
and incl. March 1
104 thereafter to
lions. Co.Pf.Stks. Surp.
Income.
Taxes.
Year- Earninas.
fund bonds are issuable for
p. 197, 305. The remaining first lien sinking under certain restrictions.
47,321.680 41,910.310 $372.378 41.520.361 4434.335 $347,992
improvements, betterments and acquisitionswhole but not in part at 102 1921
8,420,387 1.861.993 156,219 1,228,977 310.064 481,172
1920
sinking fund. Red. as a
$760,500 retired by
out March 1 1913 to
Passengers carried in 1921, 41,097,861, against 55,344,488 in 1920.
of
and int. Annual sinking fund of 1%%1933bands
to maturity. Payments for
-See Pennsylvania-Ohio Electric Co. below.
PROPERTY, &C.
March 1 1923: 2%. 1923 to 1933: 2t%, teilow 102 and int., otherwise to
purchasable at or
redemption bf bands if
-Edwin Gruhl, P. L. Dame, R. P.
EXECUTIVE COMMITTEE.
mortgage. See V. 94, P. 910,
be invested in new property subject to the
Lindsay and Harrison Williams.
See V. 114, p. 305; V.96. Stevens, Robert
559. Funds may also be used for improvements. 105 on 30 days' notice to
-P's, F. L. Dame: Sec. & Gen.
OFFICERS.-Pres., R. P. Stevens; V.
redeemable at
p. 284. The notes of 1913 were
& Asst. Sec., L .E. Kilmarx; Asst. Treas..
1822, 1583.
June 1 1921: since at par and interest. V. 97, p. from Sept. 1910 to and Counsel, Fredik P. Smith; Treas. V. 110, P. 168, 262, 1748, 2568: V. 111,
W. C. Ross -V. 109, p. 578, 1180:
pref.-1 Vi %-paid quarterly
Diridends.-On
paid in 6% prof
p.693, 1084, 1950; V. 112, p. 470, 1519; V. 113, p. 1983. 2506.2819; V. 114.
including Sept. 1914. None to Dec. 1921, when 42% was V. 114,
P. .147. p. 739.
in cash, clearing up all accumulations.
stock and 1
regularly since to and incl. Sept. 1922.
paid
-A subsidiary of the
Quar. divs. of 1
(1) PENNSVLVANIA-OHIO ELECTRIC CO.
Republic Ry. & Light Co.
-(See Map, page 92.)
EARNINOS.-Of controlled companies after elimination of enter-coin
ORGANIZATION.-Incorp. in Ohio on Aug. 20 1917. Was known as
pany earnings (excluding depreciation).
Int. & Cent.Ark.Ry. Spr. Ry. Balance. the Mahoning & Shenango Railway & Light Co.. but name changed to
Net
Gross
Calendar
Surplus. present title early in 1920. Has ownership or control of the following
& Lt. Pf.Dtn. Div.
Years- Earnings. Earnings. Diset. (7%)$81,000 152.531 469.5,381
properties.
$4.822.242 $1.491.207 $662.295
1921
4.606.421 1.408.378 670.550 (7%) 84.000 52.500 601,028 Pennsylvania-Ohio Pow & Light Co. New Castle & Mahon. St. Ry. Co.
1920
'Jew Castle Traction Co.
The New Castle Electric Co.
-Controlled properties one. ate 74 miles of track.
ROAD.
Penna. & Mahoning Valley Ry. Co.
New Castle Electric St. Ry. Co.
Blossom and
OFFICE RS.-Pres., Edwin N. Sanderson; V.-Ps., Francissec
The New Castle & Lowell Ry. Co. Zellenople Light & Power Co
Mgr , C. II Nichols: Trees tt
& Lowell Realty Co.
Youngstown Municipal Ry. Co.
Craig colira re: V
-V. 113, p. 960. 1052, New Castle
Talbot.
hill; Asst. Sec. & Asst. Treas., Richmond
Also controls the Idora Park Amusement Co.
p. 1428.
2719; V. 114. p. 197, 305, 521, 854, 957, 1890, 2011; V. 115,
Merger of Suleridiaries.-DurIng 1914 steps were taken to consolidate as
many of the properties as possible to reduce expenses, facilitate operation
Light Corporation.
(1) Central Arkansas Railway & Federal Light & Traction Co.. which and Improve conditions for refinancing
The co. then known as the MaOn Mar. 1 1013 was taken over by
honing & Sthenango Ry. & Lt. Co. absorbed the Sharon & New Castle
owns entire common stock.
Railways Co., Youngston-Sharon Ry. & Lt. Co., Sharon & Wheatland St
over the
ORGANIZATION.-Incorp. Feb. 19 1913 In Virginia, taking
Ry.. Valley St. Ry. and Wheatland St. Ry. The Youngston & Sharon
Through its constituent corn
the Youngstown Consol. Gas & El. Co. In 1915 the
Hot Springs St. Ry. and other properties.
light and power busi- St. Ry absorbed Republic Construe. Co. were transferred to the co
In
pantos does entire water. street railway gas, electric
Hot properties of the
contract with city of
.
1917 acquired the Mahoning County Light Co oper. a steam-heating plant
In Hot Springs, Ark., and vicinity. Has
ness
In Aug. 1917 eo absorbed the Mah. Valley Ry.. the Mah,
Springs for street lighting.
exclusive as to streets in Youngstown
Cal so East By.. the Poland St. Ry . the Youngstown Park & Falls St.
Franchises.-Street railway expires in 1954. and
expires Nov 1931, Elecoccupied until that date. Water. exclusive and gas, unlimited as to time. Ry. and the Youngstown & Sharon St. Ry. V. 104. p. 2118. The SharpsArtificial
the Faleenango Valley Elec. Light Co.
tric light and power. expires 1933. expiring In 1931
Should supply of yille Elec. Lt. Co. was merged with
In 1915 the
and a number of other borough companies around Sharon
Also has natural gas franchise.
artificial gas franchise
natural gas fall, company will revert to Hot Springs Street Ry. Co. dis- Youngstown & Niles Ry. Co. was absorbed. Some of these properties
Co. which see below.
have since been acquired by the Penn-Ohio Pow. &
Fare Increase.-In Dec. 1917 the cents and hooks of 25 ti kets for $I
,
Franchises.-PractIcally all the Pennsylvania franchises are perpetual.
continued the sale of 6 tickets for 25 106, p. 1036. In Sept. 1919 the same
-cent fare. V.
Railway franchises In Youngstown expire 1943. The most important Interand adopted a straight 5
Comm. increasing fares to 6 cents,
urban franchises in Ohio expire from 1945 to 1950 and Ohio lighting and
co. filed a tariff with the Arkansas Corp. On Sept. 25,020 a 7 cent cash
oower franchises In 1937 and 1942
effective Sept.. 23 1919. V. 109, p. 981.
-Effective Jan. 16 1919. the city of Youngstown
Operation at Cost.
fare was placed In effact. V. 111, p. 1752.
auth
-In May 1917, shareholders voted to decrease the
g-rante I the company a street railway franchise until Dec. 1 1943. which
Decrease in Stork.
$2.500.000
from $7000000 corn. and $3,500,000 pref. to
calls for service-at-cost and a 7% return on an agreed valuation. [See V.
spitel stock
112, p. 470. under "Republic Ry. & Light Co."I The fare fixed by this
common and $1,500,000 7% pref stock.
Interest. Outstanding. Maturity
franchise was Scents with a 1-cent charge for transfers, prov sion being made
131)N DS- Date.
STOCK AND
for higher and lower schedules, these being based on the condition of a
Common 42.500.000.
Sept '22.14 stab lizing, fund of 4100,000. V. 108. p. 265, 378: V. 109. p. 72. 173.
1 5110
$2:5 0
7 0-M
Pref cum $1.500.000
1.816.600 Mar 1 1928 Coinpare V. 107. p. 1004. At last accounts (Nov. 1921) a 9-cent fare and
5 g M'S
First lien $7.000.000 ($1.000,1 1913 Columbia Trust Co N V.. trustee.
at
1 cent for transfers or 6 tickets for 50c. was in effect. The company also
$500 and $100) gold _ ...c•lint
Dividends are guar. sells a weekly pass for SI 25. good for an unlimited number of rides for a
Preferred stock is redeemahle at 110 and accrued dist
Additional pref. stock may period of 7 days. V. 113. n. 2050. In July 1919 similar franchises for 25
by Federal Lt. Sr Trae Co.. by endorsement. 96. p. 715.
be hewed ender conservative restrictions. V. 80% of cost of additions, years were granted by the cities of East Youngstown and Struthers. Ohio.
In Feb 1920 the company obtained new franchises in Miles and Warren
Bonds.-Additional bonds may he Issued for
the int. charges on bowie under which fares were raised from 5 to 10 cents with tickets at 7 for 50 cents.
exteus. and inlets. when net earnings are double
Sink. fund, which began Jan 1915. These rates are to continue for 3 years after which time rates will be decided
out. inel those proposed to be issued
by maturity $178,500 In sinking on a service-at-cost basis. V. 110. p. 562; V. 109, p. 173. A similar
will retire at least )fl3, of entire isAue interest date at 102
franchise has laNin granted by Girard. Ohio.
1uiI bonds subject to call on any
fund
% has been
-On Aug. 29 1919 fares between Youngstown and Girard were
Fares.
Dividends.-First div on pref.-1;i %-paid June 2 1913; 15(
increased from 5 to 8 eta. and on Jan. 1 1920 to 9 cts. In Mar. 1920 was
Paid quer. since to and incl. Sept. 1922.
RNINGS.-Cornbined earnings of constituent cos. for cal. years: auth. by the Penna. P. S. Comm. to increase fares in New Castle from 6 to
EA
Balartre. 7 cts. V. 110. p. 1188. Effective July 20 1920, fares between Youngstown
Int. Chas.
Net.
Gross.
Cal. Years$200.861 and Now Castle. Pa., were raised to 50 cts. and between Youngstown and
$100.241
4301.102
4845.857
1921
206.879 Lowellaville to 20 ets. V. ill. p. 589. Effective Jan. 1 1922, cash fares
102.424
309,303
798.507
1920
In New Castle, Sharon, Farrell. Sharpsville, Wheatland and West Middle-Operates 13 miles of track: 60-lb. rails. 39 passenger cars
ROA D.
-P. & Treas.. J. DUI1h111; Sec., sex were raised from 7 cts. to 10 ets. V. 114. n. 307.
OFFICERS -Pres.. E N. Sanderson: V.
tr. 614% bends ger.
9-4) non 1st
In NI irioi 1921 icsiiel
p. 2451.
E. K. H. D'Aeth.-V 96. p. 789: V. 104.
"A" proceeds being mused to retire 111 .507.000 Pa. & M. V. 1st & ref. (Is, due
(2) Springfield (Mo.) Railway & Light Co.
May 1 1922. and for the payment of floating debt incurred for additions.
Fed. Light & Trac. Co.
As of Mar. 1 1911 entire stock was acquired by
V. 114, p. 153.5. 2013.
ORGANIZATION.-Incorp. In Maine In Nov. 1905 Owns&entire
maturity
sTocK AND BONDS- Date. Interest. Outstanding.
Gas Eleccapital stocks of the Springfield Traction Co. and the Springfield
1110.629 300
Electric Light Common $ll ,000,000 (4100)system
tric Co. The Kicka000 Transit Co. is also part of street railway franchise Pref 7% cum SIO.000.000($100)_ _
4.200 100
Q-M
franchise perpetual gas franchise expires in 1929;
614 g M-S 1,950.000 Sept 1 1938
let mtge & cull tr sk fl ($100.1 1922
entire traction, gar
In 1944 and steam heating franchise In 1936. Does steam heating. In
f Bankers Trust Co., N. Y . trustee.
$500 & SI 000) gold_ _
5g M -N
electric light and power business of city. Also does with
500.000 May 1 1927
New Castle Traction let mtge I 1897
city.
-year street-lighting contract
x
.
2 Pittsburgh,tr it ee
Itio927
1915 entered Into a new 5
4500,000 gold 41.000).01f)Int at Union Trust Co..0njv
Maturity
Interest. Outstanding.
Mar
g M -S
N C Else Co 1st M 4200.0001 1897
STOCK AND BONDS- Date.
61.100.000
_tfl lot at Union Trust Co . Pittsburgh trustee.
gold
stork $1.600.000Common
1,0 )1.200 Oct '22. 1
7 Q-J
1.687.000 Jan I 1931
5 g J-J
V-S Ry & Lt 1st M 42.500.- 1900
Preferred $2.000,000 cum..-1.999,501 May 1 1926
5s M-N
non (41.000 golds f _c• tf Int. at New York Trust Co N V trustee.
lit lien nage $7.000.000 gold f 1911
Guaranty Trust On.. of N. Y.. trustee.
67.000 July I 1923
5 J-J
E first( 1903
kfahonIng Valley S
($5l)0& 41.000) sink
tf(Int at Lawrence Ravings & Trust Co.. New
mortgaio
Preferred stock I. red at 111' au. .ecrued dividend additions and'impte.
I Castle, Pa.. trustee
Bonds.-$4.6.56,00t) 1st lien bonds are reserved for
Annual cumulative sinking fund
170.000 June 1 1923
5 J-D
at ROW of Cost under certain restrictions. of all bonds Waled. $179.500 In Poland Sit Ry 1st M uno.onnf 1913
__ntf1Union Trust Co. of Pittsburgh, trustee
($1 .0001 guar p &
began Mar. 1 1913 and provides for 25%
to call as a whole or for sink fund at 102 and int on any
sink. fd. Sub.
Stock.-Practically the entire corn, stock is owned by the Republic Railint. day. Int. Is pay. In New York, Boston or Chicago. V. 92. p 1566. way & Light Co. The prof stock haa foil voting power. Free of Penn and
Dividends -Initial div.-1 %-on pref. stock paid April 1 1915. Ohio State tax. Callable sea whole at 110 & diva. in ad(lition to amt.
same rate guar. since.
shown as outstanding 45 7(10 has been subscribed for but not yet Issued
-For 12 months ending Dec. 31:
EARNINGS.
lionds.-ist mtge. & coll. tr. 614% bands iser."A" are secured be. II) a
Int., &c.Sum 1st mtge. on Youngstown City Lines (not incl. "Park & Falls Line"),
Net. aft Tax.
Gross.
Calendar YearsS255.466 subject to 4237,000 closed 1st mtge. underlying bonds; (2) pledge of all the
,
$110.4'6
4365.942
81.194,922
1921
126.555
202.819 b en is and all of the capital stock of Now Castle Electric Co. (excepting
329.677
1,010,788
1920
Ito 1D -Operate. 23 miles or track; 49 pass, car. and 11 work erie. 60, $200.000 1st mtge. 5% bonds of 1927): (3) pledge of entire outstanding
70 and 80-lb. T rails. Power station capacity. 3.250 k. w. An addition $6.000,000 corn, stock of Pennsylvania-Ohio Power & Light Co. An annual
with 5.000 k. w. capacly now (Oct. 1922) under construction. Also has sink. fd. equal to 2% of the total amount ofsor." A" bands issued is provided
- for to be used for the purchase of bands of ser."A" if obtainable at not
Contract with Ozark Power & Water Co. for purchase of 2,875 k. w.
V. 107, p. 1748; V. 112, p. 033; V. 113, p. 2722; V. 115, p. 1810.
over 105 and mt. up to Mar. 1 1916, and thereafter at not over the respective
current call prices. Red. all or part on any int. date on 4 weeks' notice
(1) Trinidad iColo.) electric I ransmission, liy. & Ike. L...
Federal Light & Traction Co owns all the $3,000,300 outstanding stock at 110 and int. on or before Mar. 1 1932, and thereafter at 110 awl int.
,
loss 1 '4% for ea^h ftill year ellnc •4 aftnr Mar. 1 1912. Penna. 4 mill tax
and the 43.211.000 bonds outstanding.
ORGANIZATION -incorp. In Colorado on Aug. 7 1911 as successor refunded. Interest payable in New York and Chicaga. V. 114, p. 1.535.
V 93. The Youngstown-Sharon 1st Mtge. bonds can be called at 115 and int, on
sold at foreclosure Aim 2 1911
to the Colo Ky.. Lt A Pow Co
, any interest date: 47.53,000 have been acquired by sinking fund. For lien
p. 409. Supplies electricity to mines and cities of Las Animas and Flue'
1905.
fano counties Colo. Controls the entire gas electric light and street rail. covered by these bonds, see "Street Railway" section of June 24 Ry. &
an interurban railway connect- The Poland St. Ry. bonds are guar., prin. and int., by the Republic
way business of Trinidad. Colo..and operates
Light Co. Redeemable at 100 and int. on 30 days' notice.
ing Trinidad with Thomasville, cokedale, Jerry yille. Piedmont. Jansen
;A RN INns.-see Repohlie Railway & Ligto co atiove.
Starkville and Sopris. Gas and electric franchises run from 18 years to
PROPERTY. &c.-Suppiles, th-ough its subsidiaries, electric light,
perpetuity. Street railway franchises run for 50 years from 1903.
and 30 other communities In the MalionIng
Power Contraet.-Has a contract to supply the St Louis Rocky Mtn. & power and gas to Youngstownin Eastern Ohio
and Western Penns)herds,
and 9henango River v Aleys,
Pacific Coal Co. with 460.000 worth of power annually. V. 99. p. 1912
midway between Pittsburgh and Cleveland, and owns 178 miles of urban
Also has a contract with the Colorado Fuel & Iron Co.
the same locality. of which about 40 cites
Effective March 12 1922, the company was authorized to abandon service and interurban railway lines in contracts for lighting with numerous cities.
on private right of way. Has
on certain lines. V. 114. P. 1065.
present capacity 73.250 k w also
-Owns and operates 19 4 miles. Power plant capacity, 16.250 Three elec. light and power plants, gas
ROAD.
holders
artiffeial gas plant in Youngstown: 3
-V.99. p. 1912: V. 114, p. 1065.
Rail, 60-1b. T; standard gauge.
k.v.a.
OFFICERS -Pros.. R. P. Stevens: V.-P. & Gen. Mgr.. G. T. Seeley;
V -Ps., F. 1. Dame and Randall Montaremery. Sec. & Gen. Counsel, F. P.
-A holding company.
REPUBLIC RAILWAY & LIOliT CO.
Smith: Treas. 8z Asst. Rec., F. (I. Donlan: And.. F F,. Wilkins: Asst. Treas.,
ORGANIZATION.-Incorp. In New Jersey on June 27 1911. This A. R. Hughes* Asst. Sec. & Asst. Treas., L. E. Kilmars..-V. 113, p. 2188;
of the Pennsylvania-Ohio
company owns practically all of the common stock & Light Co . and througb V. 114. p. 307, 1535, 2013, 2718, 2825; V. 115, p. 74. 1100. 1732.
Ry.
Shenango
Elec. Co..formerly the Mahoning &
-(See Map, page 92.)(a) Pennsvivania-Ohis Power & Light Co.
gas to Youngstoswn and other communiit supplies electric light power and River valleys, in Eastern Ohio and West- All the common stock is owned by the Pennsylvania-Ohio Electric Co
ties In the Mahoning and Shenango




.012

Tyrell

LINES AND PROPERTIES OF

ARPSVILLE

THE PENNSYLVANIA—OHIO ELECTRIC CO.

Phalanx Sta.

(SUBSIDIARY OF THE REPUBLIC RAILWAY cil; LIGHT

LEAV1TTSBU

Windham

CO.)

INCLUDING THE FOLLOWING SUBSIDIARIES

The Pennsylvania—Ohio Power & Light Co.
The Pennsylvania Power Co.
Shenango Valley Electric Light Co.
WEST
Shenango Valley Traction Co.
MIDDLESEX
tt
The Youngstown Municipal Ry. Co.
The New Castle Electric Co.

NILES
Lamont-----?-Lordstowe
No. Jackson
MINERAL RIQ
Milton

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Pulaski

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inommommi TRANSMISSION AND DISTRIBUTION LINES

NEW
.BEDFORD

Austintown

4.4**4-44#44+4, ELECTRIC RAILWAY LINES
.4.++.1.0.1.4. PROPOSED ELECTRIC RAILWAY LINES

Nashua

POWER STATIONS AND SUB-STATIONS

Cornersburgo

1

CUSTOMERS SUB-STATIONS

r-

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Skidmor e

CITY OF
'YOUNGSTOWN
01-110
MAP OF THE

SUB-STATIONS

RETAIL

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Wampu

Leetonia

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ARKVIEW AVE.




East Palestint

.New Galilee

0
Cannelton

OCT., 1922.]

ELECTRIC RAILWAYS

ORGANIZATION.-Incorp. in Ohio on or about Oct. 14 1920 and pur-see above in accordance
chased from the Pennsylvania-Ohio Electric Co.
-all the electric light and power
with the plan outlined in V. 111. p. 1661)
property and business in Ohio formerly owned by the Penne -311.10 Elec. Co..
including the power stations at Lowellville and North Ave., Youngstown,
all transmission lines in the State of Ohio, the electric railway lines running
from Youngstown. 0., to the Pennsylvania-Ohio State Line near Sharon,
and also the stocks and bonds owned by that co. In the following companies
Shenango Valley Electric Light Co. I Pennsylvania Power 03.
Sharon & New Castle Ry. Co.(Ohio). Mahoning County Light Co.
Sharon & New Castle Street Ry. Co.
The principal franchises in Ohio extend beyond 1940 and practically ail
those in Pa. are without. limit of time.
On April 22 1922 the company signed a ten-year street lighting contract
with the city of Struthers. V. 114, p. 2116.
In Nov. 1921 tne co said its hign-power line in Pennsylvania to the
New Castle Electric Co. (see above under "Penn-Ohio Elec. Co.) for
$500.000. For details see V. 113. p. 2080.
In Dec. 1921 the co. sold 3750.000 8% cum. pref. stock and $750.000
10-yr. 8(71; bolds due Nov. 1 1930. to reimburse the treasury for expenditures and to orovide finds tir additional betterments, improvements, &c
V. 113, p. 2107: V. lit. p. 80. Compare V. 113. p. 1574.
Interest. Outstanding.
liaturne
STOCK AND BONDS.- Date.
*$6.000.000
Common stock
2 550.000
Pref cum 4I1.5 onn NO __(lOO) ---- 8 Q-F
734 g M-N 13,000,000 Nov 1 1940
1st & ref M sk fd 375,000,0001 1920
($100. 500, $1.000 c* and Guarantee Trust Co., N. Y., trustee
tf
)
$1,000 r5
2,931.000 Nov 1 1930
Secured notes ($100,$500 andj 1920 8 g M-N
c*tf(Central Union Trust Co., N. Y., Trustee
$1,000) gold
See text Nov 1 1930
1920
General mortgage bonds
1.929,000
Underly'g bonds 'closed rntges)
* Entire $6,000,000 corn. stock is owned by the Pennsylvania-Ohio
Electric Co.
Stock.-Pref. stock is call. all or in part on any div. date on 30 days'
notice at 115 and accrued divs.
-$1.929.000 1st & ref. mtge. 7%% bonds are reserved to retire a
Bonds.
like amount of underlying bonds and $706.800 are pledged as security for
the $2,930.000 8% sec. notes. Addi bonds may be issued for not exceeding
75% of the cost of add'ns, &c., under certain restrictions. Sinking fund
since Nov. 1 192E payable semi-ann., 1% per ann. to Nov. 1 1930 and
154% per ann. thereafter to retire these bonds. Call., all or part, at any
time on 60 days' notice at 110 on or before Nov. 1 1930; at 10734 during
the next 3 years, and at 101 during the last year bef pre maturity; plus
accrued int. Penna. 4 mills tax refunded. $3.610,000 general mtge.
bonds are pledged as security for the $2.930.000 secured notes.
-Are secured by deposit of $3,610.000 gen. mtge. bonds and
Notes.
$706,800 1st & ref.`tntge. 734% bonds. Were call, all or part at any time
on 30 days' notice at 110 up to Nov. 11921, and since at 1 point less each
year until maturity, plus int., in each case.
Sinking fund of 3% of the total amount of notes issued, since Nov. 11920.
to be used for purchase or call and retirement of notes at not exceeding the
respective redemption prices. Tax refund in Patina.
PROPERTY.-W(th subsidiaries owns and operates a modern electric
light and power system with 3 power plants of a total 17 6 it) 0. p. present
installed generating capacity; transmission lines and distribution systems
Electric railway lines comprise 59.11 miles. Of this mileage 49.35
miles is interurban, of which about 40 miles is on private right-of-way
There are 216 miles of new high voltage electric power transmission lines.
and extensive distribution lines in Youngstown, Girard and Struthers. 0.
-V.
Sharpsville, Farrell, Ellwood City and Sharon, Pa., and vicinity.
113, p. 1054, 1574. 1983. 2080. 2186, 2313, 2407; V. 114, p. 80, 2116.

93

ings of this corporation[83763 512. There was also added to surplus aocumulations the sum of $271,744, being the increase in the book value of
fiscal assets of one of the subsidiary cos.
-For 12 mos. ended Dec. 31 1921: Balance of earns, of
EARNINGS.
sub. cos., after deducting fixed chgs.. $2 142,151: deduct reserve for renewals and replacements, 25 15 481. and earns. applicable to stock of sub.
cos. owned by public. $389.557; bal., 31,157.1 16; oth. Inc.. $336.864; total
$1 493.480; int. on U. G. & E. Corp. bonds, 3558.000; int. on U. G. & E.
Corp.ctfs. ofindebt..$113,159;amort.of debt disc.. $53,978; bal..$768,843
Subsidiary Companies.
Bal. for
Fixed
Net (after
Calendar
Gross
Charges. Renew., ciEc
Earnings. Maint., &c.). Taxes.
Year311.359,526 $4.624.600 $746 676 31,745.269 32,132.655
1921
1.706,039
1,652.100
687.784
4,045,922
, 10.945,219
1920
-P. &
-P., Francis T. Homer; V.
OFFICERS.-Pres., E. G. Connette; V.
Treas.. A. L. T.Inn Jr.; Sec. & Asst. Treas., J. A. McKenna.-V. 108,
p. 2020, 2242; V. 109. p. 484, 1701, 2440; V. 110. p. 174, 473, 2200; V. 111,
p. 598, 1662,1860; V. 112, p. 569, 1618; V. 114, p. 861, 1065, 2014.
(1) United Gas & Electric Co.
ORGANIZATION.-Incorp. In Dec. 1901 in New Jersey. All the eom
mon stock was acquired by the Susquehanna Ry. Lt. & Pow. Co.. which
on June 6 1912 was consolidated with United Gas & Electric Corp. Owns
and controls the following gas and electric properties:
Cit. Gas & Fuel Co., Terre Wte,Ind. Lockport (N.Y.) L., H. & Pow. Co.,
Colo. Sins.(Col.) L., H. & Pow. Co., and through it the Internat. Power
& Transm. Co.,Lockport, N. Y.
and through it the Citizens Lt., Ht.
& Power Co., Colo. Springs, Colo. Richmond (Ind.) L., H.& Power Co.
Empire W.& P. Co., Col. Spr., Colo.
In July 1915 disposed of its holdings of common stock in the Hartford
,Conn.) City Gas Light Co. V. 101. p. 50. During 1915 the electric
lepartment of the Richmond Lt.. Ilt. & Pow. Co. Was sold to the city of
Richmond. Ind. The stock investment in the Altoona Gas Lt. & Fuel Co.
was written off, the company having failed to meet Its Interest charge.; In
,
1015, don to natural gas tuonneth inn. in gent 1021 dkpo ed of the Wilkes
Barre (Pa.) Co. In May 1922 disposed of Leavenworth (Kan.) Lt., Ht. &
Power Co.
In March 1919 holders of the Col. Springs Lt.. Ht. & Power 1st & Ref.
M. 58 due Aug 1 1920, approved an extension for 1 year of the $300.000
1st M. 5s due April 1 1919 at 7%. V. 108. p. 1277.
Owing to the uncertainty regarding the co's. franchise and the fact that
the co's. entire bonded debt matured in 1920. the following committee was
formed to protect the interests of the holders of securities of the Colorado
Springs Lt. & Power Co.
-J. A. Cauldwell, E. G. Connate. E. 0.
General Protectire Committee.
Delafield, A L Linn Jr., John FL Mason. Arthur V. Motron, Jonathan
0. Neff, Geo. K. Reilly; Secy., L. H. Cubberley, 306 Chestnut St Phila.,
Pa Depositories (a) 1st M.5% 20-yr hood.: of Colorado Springs Light
o
& Power (Jo., as extended at 7.7 , at Franklin Trust Co., N. Y. City.
(b) 1st M.5% 20-yr. bonds of Colorado Springs Electric Co.. at Pennsylvania Co. for Insce. on L. & Grin. Ann.. Phila. ic) let & Ref. M.10-yr.
5% bonds of Colorado Springs Light, Heat & Power Co. at Commercial
Trust Co., Philadelphia. (d) and (e) non-cum. 6% pref. stock and the
corn. stock of Colorado Springs Light. Heat & Power Co. at N. Y. Trust
Co., N. Y. City. Deposits have been called for. For circular of committee
see V. 110, p._ 1418.
All of the $350,000 Lockport Gas & Electric 1st M.5s due Feb. 1 1920.
were bought in through the medium of bank loans.
In 1920 the Lockport Lt., Ht. & Pow. Co. Issued $350.000 8% cum. Pref,
stock, proceeds being applied to the retirement of a like amount of gen
mtge. 7s due Jan. 16 1920.
Neither the Col. Spgs. L., H. & P. 1st M.59 due Aug. 11920, the Col.
Spgs. Elec. Co. 1st M. 5s due Apr. 20 1920, nor the Col. Spgs. Lt. & Pow.
let M. 7s duo Apr. I 1920. had been retired up to time of going to press.
Int at tne rate of 7%. howev, Is h-lng paid or all three Issoos.
The stockholders on Mar. 27 1922 voted to change the cora, stock from
shares of $100 par value to shares of no par value. V. 114, p. 1418.
daturity.
Interest. Outstanding.
STOOK AND BONDS- Date.
See text
36.210 shs.
Stock common 40,000
5,00
1.198 July '22,234
sharesJ-J
Stock preferred 31.500.000._Securities of controlled gas and electric companies
5 J-J
Citizens 0 & F 1st ref M 32.-1 1910
513,500 Jan 1 1960
000.000($100.36003G31.000){Int. at New York Trust Co.. New York.
Trustee.
red as a whole® 105&int tf
1.000,000 Apr 20 1920
001 Spgs El Co lstM($1.000.- 1900 7 A-0
000) red at 110 & int_c•tf New York Trust Co.. New York, Trustee.
300.000 April 1 1920
7 A-0
Col Spgs Lt & Pow 1st mtge 1899
$300.000($500841.000) ctf hit. at New York Trust Co., N. Y.. Trustee,
1.244,000 Aug 1 1920
-A
Ool Springs L H & Power 1st 1910 7 g P
& ref mtge 33.500.000 gold Interest at New York Trust Co.. Trustee.
M. N. Buckner Is also Trustee.
($100. $500 &41,000)_et/
750,000 Jan 1 1938
5 J-J
Lock L R & P 1st ref $750. 1908
000 ($500 & $1.000)....c•tf Int. at New York Tr. Co.. N. Y., Trustee.
5 M'S
155.300 Mar 1 1939
Etch L H & P 1st M 33.0001 1914
00013100.3500341.000)c&rtf Int at New York Trust Co.. N. Y.. Trustee.
Demas Deming Is also Trustee.
red @ 105 & int
-Of Citizens' Gas & Fuel let & refunding mtge. bonds, $285,000
Bonds.
are held in treasury and 31,121,500 are for acquisitions, extensions, impts.,
&c., and can only be issued for 85% of cost of same. Demas Darning is also
trustee. $1,300,000 of Colo. Spgs. L., H.& P. Co. 1st & ref. bonds reserved
to retire underlying bonds and $916,000 are for additions, extensions, &c.,
at 85% of cost thereof. Redeemable at 105 and int. on Feb. 1 1917 and at
10234 and int. on any int. day thereafter. V. 91. p. 466, 1097. Lockport Lt., Ht. & Pow. 1st ref. bonds are redeemable on any int. date at par
and int.
-On pref. 57 has been regularly paid since incorp. On corn..
0
Dividends.
In 1906 and 1907. 2%: 1908 4%; 2%; 1910, 4%; 1911 4%: 1912,
4%; 1913.434%: 1914,434%: 1915, 4%; 1916. 7 14%; 1917. 4%; in 191g,
2%%. In 1919, 134%. In 1920. 134%. In 1921 none paid. In 1922
common stociewas changed from $100 par to shares of no par value. In
Sept. 1922 30c. per share was paid on the new stock.
-Year end. Dec. 31 1921, earnings (lass expenses), $271,EARNINGS.
832: bond int., $19,435: pref. div.. $59,790; surnlus. 3192,607.-V. 93, p.
1783; V. 101. p.48; V. 107. p. 1288; V. 108. p. 487, 789; V. 114. p. 1418.

(TliE) UNITED GaS & ELECTRIC CORPORATION.
ORGANIZATION.-Incorp. in Connecticut on June 6 1912 as a consolidation of Susquehanna Ry., Lt. & Pow. Co. and United Gas & Elec. Corp.
(Incorp. Mar. 8 1912.) Owns entire common stocks of the following
companies (V. 94, p. 1388, 1696. Compare also V. 97, P. 726.)
United Gas & Electric Co. of N. J. Gretna (La.) Lt. & Pow. Co., Inc.,
(and
United Gas & Elec. Eng.Corp.
Lancaster (Pa.) Co. Ry. & Lt. Co.
through it the Central River Coal
Consumers' Electric Light & Power
& Supply Co.and the Union Gas &
Co., New Orleans.
Elec. Co. of Bloomington, Ill.)
Harrisburg (Pa.) Light & Power Co.
Houston (Tex.) Gas & Fuel Co.
-In Feb. 1922 sold the United Central 011 CorpSale of Oil Properties.
to the White 011 Corp. for:
(I) 8% cum. cony. pref. stock of the White Oil Corp., par val.
$10, call. on any div. date at 115 on 60 days' notice. Cony.
$1.500.000
Into White Oil Corp. corn. stock at $20 per share
170.000 she.
(2) White Oil Corp. corn. stock (no par value)
(3) Option for 1 year on 100.000 shares White Oil Corp. corn.
' $1,500,000
stock at $15 per share
For further details see V. 114, p. 861, 1065.
Also controls the Elmira Water, Light & RR. Co., which see under
"Elmira. N. Y."
-This no. was organized in 1913
United Gas & Electric Engineering Corp.
for the purpose of acting as consulting, contracting and operating engineers
and as purchasing agents for the U. G.& E. Corp.
In Feb. 1916 $5.000.000 additional 6% coll, trust sk fd bonds were
issued and offered at 97 and int. to the holders of the 24.500.000 3
-year 6%
notes of 1915 (called for payment April 11916) in exchange for their hold
lugs at 10134 and int., the difference being adjusted in cash. V.102..P.801.
Interest. Outstanding. Maturity.
STOCK AND BONDS- Date.
$12.250.540
Common $20,000,000 ($100)_
See text
9.284.800
Q-J
1st pref$25.000.0004100)6%1 ---cum to Apr 1 '15&7% afterj
11.663.500
2d pref 812.500.000($100).
9,281,400 Apr 1 1945
Collateral trust sink fd gold 1915 6 g A-0
bonds Set "A"315.000.000;Int. at Guaranty Tr. Co.. N. Y.. Trustee,
(81,000 and $100)__ _cs_tt I and Penn Co. for Ins.on L & Or.An.,Ph
Pur money ctfs of indebtedness ---696,300
See text
7%
Stock.
-$168.200 let pref.. $3.000 2d pref. and $16,700 corn. stock is in
treasury. The 2d pref. stock is to bear cum dive., viz.. 2% per annum
in 1914, 3% in 1915. 4% in 1916. 5% in 1917 and 6% thereafter, and will
be entitled toe preference over common in event ofliquidation and subject
in all respeets to priority over preeent pref stock. See V. 97. p.
Bonds.
-$13.100 coll, trust bonds are in treasury, reacquired for sink.
(3) Harrisburg Light & Power Co.
fund purposes, and $374,500 (not incl. in amt. outstanding) are held in
ORGAN IZATION.-Incorp. July 22 1912 to take over the Harrisburg
sink. fund: $331,000 have been canceled and retired; remaining $5.000,000
may be issued for 75% of the cost a acquisitions under certain restrictions, Light. Ht. & Pow. Co. and Paxtang Elec. Co.. whose franchises are perpetual. In Feb. 1913 the Harrisburg Lt. & Pow. Co. purchased the Har$378,000 of bonds reported outstanding owned by a subsidiary. The coll.
trust bonds are secured by com. and pref. stocks of the subsidiary cos. risburg Steam. Heat & Pow. Co. In Aug. 1913 acquired Steelton Lt.. Ht.
having an aggregate par value of approx $23,000,000. Red. as a whole & Power Co. V. 97, p. 179. Serves with light and power the city of Haror in part at 10234 and int. on 4 weeks' notice. A cumulative sinking fund risburg and the adjacent communities of Steelton. Dauphin, Penbrook.
which began July 1 1918 will retire over 70% of the bonds at maturity. Paxtang and Riverside; also serves the main business section of Harrisburg
V. 100, p. 2091. Tax refund in Pa. For description of Purchase Money with steam heat. Stock outstanding, $1,968,000 common,and $1,250,000
6% cum. pref.stock. All the common owned by The United Gas & Electric
ctfs. a indebtedness, see under Utilities 011 & Refining Co. below.
Corporation.
Dividends on Pref.-An Initial city. on 1st pore. at rate of6% per ann. (for
Interest. Outstanding. Maturity.
Date.
BONDSperiod June 6 to Sept. 30 1912) was paid Oct. 11912. In 1913, 6%. In
1924
31.000,000 July
5 J-J
1914. April. 3%. None to Dec. 1915. when 3% was paid. In April 1916 Harrisburg Light Ht & Power! 1899
tflOommonwealth Tr. Co., Harriab., Trustee.
first mortgage
changed div. periods to guar. Instead of s.-a., and paid 53i% in 1916.
3,425.000 Aug 1 1952
-A
Harrisburg L & P 1st & ref Ml 1912 5 g F
In 1917,6%%•
$10.000.000 g MOO and Fidelity Trust(Jo.. Philadelphia. Trustee.
*tic
-Calendar years:
REPORT.
93,500 Dec. 1 1923
Profits from
31 M )
Harrisrurg L & P notes 3215,-1 1918 6 g J-D1
.
2 6 0
. 12,0 rria b 192
1 4
Preferred
Balance,
000 ($500 & $1,000) g_c*tfl Int. at Commonw.Tr.0o. Ham sr .. Trus.
Calendar aIncome for Dealinos in Int., &c.,
6%
Securities, &c. Charges.
Dividends.
Surplus.
-year sk. fd notes g $300,000- 1921
Year.
3
Year.
$710,935
2890.809
84.893
Lt. & Pow. 1st & ref. bonds. 31.000.000 are
1921 ____31,596.851
Bonds.-Of the Harrisburg
763,257
86,675
1,411,973 reserved for prior liens. S5.575,000 for impts., extens.. &c., under certain
1920
2.088,555
restrictions. Red. at 105 and int. on any int. day.
includes the equity in the net earnings from subsidiary corporaa This
-The 5-year notes are limited to an issue of $215,000. $121,500
Notes.
tions, whether actually received in the form of divs. or not, and have been retired. leaving $93.500 outstanding. No new mortgage or lien
includes net receipts from oil properties directly operated. The amount (other than purchase money mortgage) may be created without equally
to surplus account of sub. cos. not declared as securing these notes. Red.. all or in part, on 30 days' notice at 100 and int.
added at the end of 1921
diva. was $619 064 from the last-named amt. and the previous accumula- Tax-free in Pennsylvania. $87.400 3
-year 6% notes have been retired.
tions of surplus of sub. cos.. there were charged during the year various
-Year ending Dec. 31 1921. Gross, $1 369.140; net, after
EARNINGS.
amts. on acct. of extraordinary expenditures not directly applicable to the
operations for the year, of which the proportion corresponding to the hold- taxes,$522,239; charges,$297,246;surplus,$224,993.-V. 107. p.608,2471




94

ELECTRIC RAILWAYS

(3) Consumers' Electric Light & Power Co.
Operates an electric light and power system in New Orleans.
Interest. Outstanding. Maturity.
Date.
STOCK AND BONDSAll owned by United Gas & Elec. Corp.
Common 41,000,000
Preferred 4500,000(7% cum)_ $500,000 Sept '22, 14
Q-M
First mtge $2,500,000 gold - - 1
1,885,000 Jan 1 1936
5 g J-J
191($109, $500 and $1,000)_01Int. at Columbia Tr. Co., N. Y., Trustee
Stock.
-Preferred stock 7% cum. from April 1 1913.
Bonds.-Remaining bonds are for Tams.,impt. and betterments. Subj.
to call at 105 and int. No sinking fund.
EARNINGS.
-Year ending Dec. 31 1921, grceer, $737,551; net, after
taxes, $231,338; charges, $95,580; surplus, $135,782.

[VOL. 115.

Bonded Debt
Stock
Bonds
Cities Service Amount Cities SerrOutstanding. Company. Outstanding. ice Co.
$
'Dominion Gas Co
4,820,000
261,000 a3,000,000
99.983
Beaver Oil & G.Co., Ltd.
d.
b102,300
Preferred stock_ _
_
b75,000
Brantford Gas Co
85,000
2,500
d121,820
Domin. Nat.GasCo.,Ltd.
a1,250.000
Ingersoll Gas Light Co.. _
30,000
d40.000
United Gas Co., Ltd_
a300.000
Woodstock Gas Lt. Co_ _
50 000
dS6,120
1)urham Pub. Service Co _ _
736,800
a300,000 99.766
Preferred stock
a200.000
75.00
Electric Bond Deposit Co.._
al.500.000 100.00
(4) Houston Gas & Fuel Co.
Preferred stock
a1,500.000
99.4
Entire corn, stock is owned by United Gas & Elec. Corp. Does entire
Empire Dist. Elec. Co
5,748,000
35.449 a3.000,000
99.95
gas business of Houston and vicinity. Has acquired Houston Gas Co.
Preferred stock
a1,003,900
Franchise runs until July 1 1940 and fixes the prices for gas at $1.19 per
Sub. en. securities
408.000
4,001
a600.000
1.000 ethic feet.
Preferred stock
al00,000
All -the $378.000 outstanding Houston Gas Co. 1st mtge. 5% bonds Empire G.
a1,700 100.00
(extended to Mar. 1 1923 at 7%) were called for redemption Sept. 1 1922 Empire G.& F. Co. (Col.)..
& F. Co.(Ky )_
_
100.000
at 100 and int. V. 115, p. 551.
Empire G. &, F. Co.(Del.).. 28,822,700 2,711,000 a62,500.000 100.00
99.994
Preferred stock
Interest. Outstanding. Maturity.
STOCK AND BONDS- Date.
17,849 200
78.24
Se unities of sub. cos
_Common $1,500.000_
25 469,766
- $1,500,000 Sept'22 1 '1. X
Pref. stocks of sub. cos
Preferred (7' cum)1556.000_
Q-J
550.000 Sept '22 1%
a400,000
Ref & impt M $6.000,000_ __- 1912 5 M-S
2,170,000 Sept 1 1932 Empire G. & F. Co. (Ohio)
al.000.000
99.9
Empire Leas. & Drilling Co.
al00,000 100.00
-Preferred stock is callable at 110 and dividends.
STOCK.
Empire Oil & Gas Co., Inc_
a3,000,000 100.00
568,300
-Additional bonds can be issued only for 80% of cost of °stens, Empire Oil Purchasing Co
BONDS.
g501,000 100.00
Empire Refining Co. (Ill.)..
and impts. when annual net earnings are double the interest on bonds
a500,000 100.00
Empire Refining Co.(Me.)_
including those to be issued.
a500,000 100.00
Empire Tank Line Co
a1,000,000 100.00
EARNINGS.
-12 mos. ending Dec.311921: Gross, $1,071,829; net, after Fremont Gas, El. Lt. & P..
41,000
al37,300
70.866
taxes. $319,475; 'harses. $113,681; surplus, $206.194.-V. 106, p. 818
Kansas Natural Gas Co_ __ _
350,250
147,750 b6,000,000
90.533
V. 110, p. 974; V. 115, p. 551.
Knoxville Gas Co455,000
2,000
a300,000
86.23
Preferred stock
al00.000
(5) Union Gas & Electric Co.
Lebanon Gas & Fuel Co
311,000
30.000
a500,000
25.36
ORGANIZATION.-Incorp. July 6 1809 under the laws of Illinois for
Lincoln Gas & Elec. Lt. Co. 1,500,000
19,300 a2,180.900
97.982
99 years. Acquired physical property. franchises and capital stock of the
Havelock Elec. Light Co.
al5,000
Bloomington Gas Light & Coke Co. and the Citizens Gas Light & Heating *Meridian Light & lty. Co. 3,108 994 1,454 994
a2,000,000
99.965
Co. l'ractically all common and all pref. stock owned by United Gas &
Hattiesburg Trac. Co__ _
562.000
1043.000
a500.000
Elec Eng. Corp.
Ohio Public Service Co.. _ _ _ 7,611,600
a1,947,000 100.00
Preferred
a2,000,000
Interest. Outstanding. Maturity
STOCK AND BONDS- Date.
50.25
Peoples Electric & Ice Co._ _
a2,000 100.00
Comnaen stock $1,000.0008750.000
Power Transmission
26.000
a200.000 100.00
Pref stock (7%) $1,000.000
7%
300,000
Pueblo Gas & Fuel Co_ __ _
618,000
50,000
a300 000 49.806
5%
let mtge $750.000 ($1.000)__J 1905
847.000 Sept 1 1931 Richland Company
al,500,000 100.00
'Int. at First Tr.& Say. Bk.. Chic.. Trustee. Itlehland Public Service Co.
3,1100.500
510,500 a3.200,000
99.978
Bonds.
-The $93,000 addl bonds can be issued for 75% of cost of extens St.JosephRy.,Lt.,11t &P.Co. 5,711,000
a3,500.000
95.117
& impts. when net earnings are twice int. on bonds, incl. those to be issued.
Preferrei stack___.
al.560.000
19.23
Red. at 105 and int. on any Int. date. Ann. sink, fund of 5% of gross Salina Lt., Pow. & Gas Co.
600.600
a500.000 99.90
receipts on and after Oct. 1912. Up to Oct. 11922, $110,000 retired.
*South. Ont. Gas Co., Ltd. 3,984.000 2.052,000 a4,000.500
99.9875
Southw. Okla. Gas & F. Co.
350.000
350,000
a500,000
99.9
EARNINGS.
-For year end. Dec. 31 1921, gross, $317,468; net, after Spokane Gas & Fuel Co
864.000
84,000 a2,000,000 99.935
taxes, $101,749; charges, $29,101; balance, $75,618.
Preferred stock
300.000
Sub. cos. securities
550,000
a99.400
Sub. cos. prof. stock_ _
a50,000
-A holding company
CITIES SERVICE COMPAN Y
Summit County Power Co.
333.000
a392,600 64.875
ORGANIZATION.
-Incorporated In Delaware Sept. 2 1910 as a hold- Texas Distributing Co
al00.000 100.00
ing company, per plan in V. 91. P. 656. and acquired control of Denver Gas Toledo Beach Co
e5,000
98.00
&Elec. Light Co. (see that company) and the Empire Dist. Elec, Co. Or- Toledo Casino Co
a4,000
87.50
ganized and managed by H. L. Doherty & Co., New York. V. 102. p. Ted. Ottawa Bch.&Nor.Ity_
450.000
450,000 al.5"0,000
99.06
2077. Under a re-arrangement of properties made in March 1913 acquired Toledo & Western RR
2.000 000
500 000 a2.000.0 0 99 115
control of the St. Joseph (Mo.) Ry.. Lt.. Ht. & Power Co., Empire District Toledo Tree., Lt. & P. Co.. 3,798,000
a7,966,250 95.918
Preferred stock
Gas Co. (subsequently dissolved) and Danbury & Bethel (Conn.) Gas &
a6,661.675
96.40
Securities held for exch._
Electric Light Co. V. 96, p. 656. 718. InNov. 1913 the company also
a3 732
Toledo Edison Co
acquired the properties (consisting of securities) of Consolidated Cities Light,
15,375,400
a13,875,000
l'referred stock
Pow.& Trac.Co.(subj to 810.000,000 1st lien. 5s due Nov.1962)and Utilities
a4,000,000
Improvement Co. For terms of acquisition see this section of Nov. 15 United Wat., Gas & El. Co. 1,362.300
a700,000 99.90
Preferred stock
1919 under "Cities Service Co." See full particulars regarding the Cona350.000
50.00
solidated and Utilities companies in the issue of this section for Sept.27 1913. Washita Gas & Fuel Co_
250.000
250,000
a500,000
99.7
The company controls 78 gas, electric light, heat and power, electric Watauga Power Co
300,000
a300.000 99 833
railway, water and 38 oil producing and refining properties and 9 misc. cos., Western Distributing Co_
al75.000
99 60
operating in 30 States of the United States, and in the Dominion of Canada. Western Light & Power Co.. 2,450,000
5,000 a2,000 000 88 903
The public utility properties serve over 600 communities with a population
Preferred stock
a1,000 000
91.29
in excess of 3,000,000. Through associated cos. and subsidiaries im- Western Okla. Gas & F. Co.
100,000
100,000
a100,000 99.50
portant properties are being developed in Mexico. In South America the Consol. Cities Lt., P. & Tr.
Barco cone() sion in the U. S. of Colombia, comprising More than 800,000
Co. bds.secur. by pledge of
acres, is coierolled.
corn. stk. in cos. marked*10,000,000
40,000
a250,000 100.00
Below will be found tables giving a complete list of the subsidiary comoutstanding capital stock and bonded debt of each and the
panies with the
Total
142,781,744 9,749,493 267,252,001
amounts thereof owned or contracted for by the Cities Service Co. The
holdings of the Consolidated and Utilities companies are included in these
*The stock owned in these companies is largely
pledged to secure the
tables, having been taken over by the Cities Service Co. as of Nov. 1 1913
$10,000.000 bonds of the Consolidated Lt., Pow. & Trac.
Co.
CAPITALIZATION OF SUBSIDIARY COMPANIES.
-The following Summary of Capital Stock and
Funded Debt Sub. Cos. as of Dec. 31 1921.
table shows the securities of the subsidiary companies owned or contrclled
by the Cities Service Co. as of Dec. 31 1921 [par of shares: a $100, b $50,
Common
Preferred
Bonds and
.
c $25, d $20, c $5 25, J $1, g no par value.]
Stock.
Stock.
Funded Notes.
Owned directly by Cities Serv. Co-$158,139,929
$26,913,307
$9,749,493
Bonded DebtSecurities owned by sub-hold'g cos.. 62,572,465
Stock
2,141,000
6.938,400.
Bonds
Cities Service Amount CitiesServ- Bond and funds in sinking fund..
2,959,267
Outstanding. Company. Outstanding. ice Co.
Outstanding in hands of public.... _ _
5,060,385 12,424.918 123,137,584
8
Adrian Sireet Ry. Co
75,000
75.000
Total
a30,000 98.333
4225,772,779 411,479.225 8142.784,744
American Eagle Oil Co.._
c32,000 100.00
Merger of Subsidiary Companies.
Arkansas Valley Gas Co_ _ _
-As of May 1 1916 the Empire
al50.000
99.533
Fuel Co. took over the Quapaw (las (30., Wichita Natural Gas Co., Gas &
Ashland Gas & Elec. Lt. Co.
95.000
al00.000 99.5
Wichita,
Pipe Line Co., increased its capital stock from $7.500,000 to
923 000
Athens Ry.& Elec Co__
a750.000 99.8
and issued $14.000,000 1st M. and coll. tr. sk. fd. 6% bonds $12,500,000
Preferred stock
a300,000
due
1926. See V. 102, p. 1542; V. 103. p. 1031. The entire stock of May 1
Atlas Chemical Co
a2,000,000 99.95
the
larged co., except directors' shame, is owned by the Cities Service enBartles Oil Co
al.000.000 100.00
Co.
Proceeds of the bonds were used to retire the $7,000,000 Cities
384.000
Bartlesville Gas & Elec. Co.
443.550
99.938
Service
Co. 7% cony. notes (called for payment on or before July 12
123,000
Line Co
Berea I'lpe
a250,000 lOtIt
1916), and
underlying bonds and provide for extensions, &c. In Feb. 1921 the
425,000
*Bristol Gas & Electric Co..
a300,000 99.83
Empire
Gas & Fuel Co. brought out $5.000.000 bond-secured notes,
1,265,000
371,000 a2,000.000
Brush Electric Co
99.865
Oil Purchasing Co. issued $10.000,000 7% panic. notes. and the Empire
*Cent.Ohio Gas & Elec. Co.
a2,5047.000
99.916
In July 1916 acquired the Crew Levick Co.of Phila. V.103,p.V. 112 p. 937.
Buckeye State Gas & Fuel
a200,000
406.760, 1034.
38,200
Columbus Nat. Gas Co.._
As of Aug. 1 1916 acquired over 76% of the pref. stocks of
a400,000
Coshocton Gas Co
80 000
Gas & El. Lt. Co. (V.102. p. 1991),, Montgomery Lt. & Waterthe Lincoln
a80,000
Preferred sto k
al6,000
(V. 102, p. 1721; V. 91. p. 340), and Electric Bond Deposit Co.Power Co.
Medina Gas & Fuel Co
200.000
a400.000
510; V. 100, p. 1675). in exchange for Cities Service pref, stock (V. 94,p.
under offer
5,613,500
Cities Fuel & Power Co
outlined in V. 102. p. 2077.
al0.000,000
99.99
American Pipe Line Co_._
a50,000
In August 1916 acquired over 76% of the
Frankrin Co. Pipe L. Co..
1100.000
preferred stocks of the Toledo Trac. Lt. & Pow.outstanding common and
Co.
Fr, st Gas Co
a99.600
Cities Serv. prof. and 7% corn. stock for each share in exchange for 35%
Brocton Gas & F. Co_ _
al0,000
and share for share for preferred. V. 103. p. 1119. of Toledo common.
Republic L.,II.&P.Co_
401,000
a3,346,300
In Nov. 1916 contracted to acquire the Kansas Natural
GlenwoodNat.G.Co.,Ltd.
a750.000
subsidiaries through the Empire Gas & Pipe Line Co. Gas Co. and its
Mfrs. Nat. Ga- Co., Ltd..
a800.000
For offer to exchange Cities Service 7% debentures Ser V. 103, p. 2078.
Securities of sub. co...._
a200.000
"D" for stock and
Sentinel Oil & Gas Co
2nd mtge bonds of Kansas Natural Gas Co. See V.111,
f66,755
p.1186.
Cities Serv. Oil Co. (Colo.)
a25,000 100.00
In April 1917 the Empire Gas & Fuel Co. was
incorporated
Cities Service Oil Co.(Ohio)
187,500
a625,000 100.00
with $1,700 outstanding common capital stock, all owned by in Colorado
Cities Service
Cities Service Oil Co.(Tex.)
al00,000 100.00
Co., and owns gas, oil and mineral leases in Arkansas, Colorado,
CD les Service Oil Co., Ltd..
New
a5,000 100.00
Mexico and Wyoming.
*City Light & Traction Co.. 1,241,400
338.000 a1,000.000
In Dec. 1917 purchased the Standard Asphalt & Refining Co.
99.93
Preferred stock
a80,609
dence. Kan..from the Armour interests; also acquired control inat Indepen1917 of the
550,000
300.000 al.000,000
*City Light & Water Co...._
Atlas Chemical Co., which sells coke oven gas to the Toledo
99.85
Rys.
Preferred stock
al00.000 100.00
In Dec. 1918 the co acquired control of the Western Light & Lt. Co.
Colombian Petioleum
a5,000,000
In 1921 a new subsidiary. the Cities Service 011 Co.. Ltd., was & Powes Co
74.51
Companla Colombiana
in Canada. V. 112. p. 1402. In the same year the Cities incorporated
a200,000
Del Petrolco
Texas (V. 113, p. 1057) and the Cities Service Oil Co. of Service Co. of
Colorado were
Compania de Gas y Comformed. V. 112, ,p. 2309.
bos ible "Imperio" S. A..
b100,000 100.00
In Nov. 1919 the Cities Fuel & Power Co., a subsidiary,
brought out
C mpania Emmex do Pe$7,500,000 3
-year 6% secured notes, guar., prin., int. and sink,
fund, by
troleo y Gas
e5.250 100.00
the Cities Service Co., to refund $7,259,000 2
-year 7% secured notes due
4,048,400
Crew Levick Co
0.001.500 100.00
Dec. 11919. V. 109. p. 1701, 1795.
Preferred stock
2,500,000 100.00
In Nov. 1915 sold $5,000,000 pref. and $2,500,000 corn. stock to
Sub. Co . securities
363,500
cate for $5.000,000 cash to retire floating debt and provide working a syndi655.000
*Cumb.&West. El. Ry. Co.
V. 101. p. 1627, 2071. In Oct. 1916 sold $8,000,000 pref. stock in capital,
b625.000 92.024
connec•
Danb.Sr Beth. .&E.Lt.Co.
156,000
0
c400.000
lion with the purchase of the capital stock of the Crew-Levick Co.,
99.931
Preferred stock
156,650
(Okla.) Refining Co., Ponca Lubricating Co.. Cushing (Okia ) Ponca
Denver Gas & El. Lt. Co
15,383,900
al0,000,000
Co. and the Producers' Refining Co.. Gainesville, Tex. 2 Refining
99.987
V. 103. r)
Pr ferred stock
01,176,200
1412. 1301.




OCT., 1922.]

ELECTRIC RAILWAYS

95

Cities Service corn, stock, together with the accumulated cash and stock
In Oct. 1921 a new subsidiary, the Ohio Public Service Co.. was incorp
1919 to time of conIn Ohio as a consolidation of the Alliance Gas & Power Co., the Lorain dive. on the latter amount of corn. stock from Jan. 1 in amount outstandnot
Co., the Massillon Gas & Elec. Co. and the Trumbull Public version. $312,700 owned by the company timeincl,1()2 and interest. If
County Elec.
at
ing. Itedeemab:e, all or in part, at any
1511. In
Service Co. V. 113, p. 1775: V. 111. P. 1070: V. 115, p. 187,
is secured for at least thirty
Sept. 1922 the Ci its Service Oil Co., a now sub ,i(li try, was formed. called for redemption, the right to convert
days prior to redemption date. Interest payable at office of H. L. Doherty
V. 115. p. 1325.
to & Co., N. Y., or office of Cities Service Co. in London. without deduction
In Feb. 1918 issued $3,000.000, Series "B" 7% cony. debentures
provide for future requirements. V. 106, P. 1126. In Aug. 1918 an addi- of normal Federal income tax. V. 108, p. 82.
)
Convertible 7% Debentures, Series "D."-Denom. (c5 $1,000 and $500.
tional $6,000,000 were brought out. V. 107, p. 607.
Iu Jan. 1919 stockholders were offered the privilege of subscribing for Int. J. & D.; (r) $5.000, $1,000, $500, $100, $10 and multiples of $10; int.
Series "0" 7% cony, debentures at par and int. V. 108. payable by check monthly except that on bonds of less than $100 principal
610.000.000
amount, int. is payable annually on Dec. 1 only. Each $1,000 principal
In Dec. 1919 the company brought out $10,000,000 7% cony. debentures
amount is convertible since Jan. 1 1922 into $925 par value of either
V. 109, p. 2174, 2266.
Series "D."
6% cum. Preference B stock or 6% cum. Preference BB stock and $75 par
value corn. stock, together with the amount of accumulated cash and stock
In Feb. 1919 300,000 (par $10) "Bankers shares" were disposed of
div. on $75 par value corn. stock after Dec. 1 1919 up to time of conversion.
200,000 being subscribed for at $35 each and 100,000 at $37 50 each
owned by co. not incl. in amount outstanding. Additional
V. 108, p. 881, 1062. See also V. 109, p. 1702.
stock from $50,000, $7.070,400 issue may be auth. under certain restrictions. $3,000.000 are
In May 1914 sharehomers ratified an increase In the
debs. of this
000 ($30.000.000 pref. and $20.000.000 common) to $65.000.000 ($40,000.- deposited with the Bankers Trust Co. for the conversion of the Toledo Trac.
Lt. & Pow. Co. cony. 7% debentures. Through operation of an investment
000 pref. and $25,000.000 common). On Juno 29 1916 authorized stock
was further increased to $100.000,000 ($60.000,000 pref. and $40,000,000 fund there is available for purchase in the open market at a price not exceedcommon). On Apr. 3 1917 shareholders ratified a further increase in au
ing 105 and int. for account and benefit of holders of these debentures, a
thorized stock to $150.000.000 ($100,000 000 pref. and $50,000,000 corn.)
sum each month equal to the cash dividends paid on the amount of comOn April 8 1919 stockholders voted to Increase the authorized amount of mon stock into which thaw debentures are convertible. Callable, all or
pref. stock from $100,000,000 to $150,000,000 On Nov. 17 1919 the In part, at 102 and int.; when called the right of holders to exercLse their
stockholders voted to further increase the auth. capital stock from $200.- privileges of conversion is secured to them either on the redemption date or
1313
000,000 to $300,000,000 by creating $60,000,000 of 6% Preference new a date a reasonable time prior to such redemption date, which must be fixed
stock and $10,000,000 of 6% Preference B stock. $3,000,000 of the
by published notice. Int. payable at offices of H. L. Doherty & Co.,
Preference B stock was issued Immediately, being offered to the stockholders N. Y., or company's offices in London, Eng. V. 109, p. 2174.
at $7.50 per share, and was largely oversubscribed. V. 109. P. 1702. I 900
Convertible 8% Debentures, Series "E,"-Denom. (c*) $1,000, $500 and
On July 31 1922 holders of pref. and pref. "B" div. scrip were offered $100. Int. M. & S.; (r) $1.000, $500. $100, $10 and multiples of $1,000,
the privilege of exchanging same for 8% cony. debentures "E." V. istered p tyaltls by chock monthly, except, that on !South of $10 (tenpin.
115, P. 649.
I; p tyabls arem illy. Are cony, at any time, at optisn of led ier;
In Sept. 1922 the co. announced that it intends to redeem, at p-ices not int.
0
7 1 due as follows: Each $100 bond may be exchanged for $85 of Cities Service
exceeding 102 and int., $3,000,000 cony. debenLuras, Sr. "B," ' lot
preference stock and $15 par value corn. stock, together with all divs. paid
$500,000 on Dec. 4 1922, and the additional $2,500,0001:1
Jan. 11966;
on corn. stock from date of issue of the debentures up to time of conversion.
of $500,000 each from time to time, the entire $3,001,000 o be rsiss-nstd Rod. at 115 during first year of life and at a premium diminishing* 1% each
prior to Sept. 1 1923. For statement by Pres. II. L. Doherty on es';•rislicy• six months down to par, at which price these debentures m ty be calls 1 for
to redemption of debentures. See V. 115, p. 1537.
with regaed
redemption after 7A years. V. 115, p. 619.
Stock, &c., Outstanding Aug. 311922.
Bonds of Consol. Cities Light, Power & Traction Co -These bonds remain
Outstanding. Divs.4* Mac out as a lien on the securities pledged therefor (see * in the foregoing table).
Interest.
Date.
STOCK. ETC.The bonds are subj. to call at 105 on any int. day and are guar.. p. & I.,
Corn. stock ($100) $50,000,000 ____ Monthly 846.579,075 See test.
by the Cities Service Co. On or before Jan. 1 the company will in each
Pref stock 6% cum ($100)
year either (1) pay to s.f. 1% of bonds out or (2) deliver to trustees bonds of
Monthly 78,616,517 See text.
$150,000,000
_
the present series equivalent at 105 and int. to the above payment. All
Monthly
Pf BB stk 6% cum $60,000,000
cash in sinking fund will be applied either (1) for purchase of those bonds
Pf B stk 6% cum $40,000.000
at or under 105, or call at that figure; or (2) in purchasing bonds of com3.452,220 See t srt.
Monthly
(par $10)
5,855 350 Jan 1 19611 panies whose stocks form part of security for present series. All bonds so
Soo text
Cony 7% dohs Series "B" 1918
purchased will be kept alive for sinking fund. $118.500 bonds in sinking
Co., New York, trustee
c*r..tt Bankers Trust
closed gold
16,722,930 Jan 1 1966 fund. Maryland and Pennsylvania State tax refunded. See also V. 95.
See text
Cony 7% debs Ser "C" $17,- 1919
p. 679, 110; V. 103, p. 1983.
Bankers Trust Co., New York, trustee.
c*Scr if.
500,000 gold
9,429,600 Jan 1 1966 First lien mtge gold (see text)1 1912
See text
5 g J-J x$10.000,000 July 1 1962
Cony 7% deb Ser "D" $30.- 1919
n
($100, $500 and $1,000, orlInt. at office of H. L. Doherty & Co., N. Y.,
000.000 gold__ csezr tf New York Trust Co., New York.Jan l 066
See to_.t
or Lloyd's Bank, Ltd., London.
£ equivalent) $10,000,000
Cony 8% deb Her"E"g_c*&rtf 1922
text
See
x
See text
c*.tt Bankers Trust Co., New York, trustee.
authorized
Bankers'shares"(par $10)_ r_
See text below.
z $10,000 of this amount is owned by Cities Service Co.. and $1.Dividend scrip
500,000 pledged under mtge. of Cities Fuel & Power Co.
x Included in common stock outstanding.
Earnings of Consol. Cities Lt., Pow. & Trac. Co. for cal. year 1921 will
-On Nov. 17 1919 an amendment was made to the charter which be found in V. 114, p. 1062.
Stock.
provides that the company shall have the right to redeem its first pref.
and Preference BB stock are
-For the 12 months ending
EARNINGS OF CITIES SERVICE CO.
stock, all or in part, at 112. Preference B
Aug. 31 (annual report for 1921 in V. 114, p. 1760, 1785.
redeemable, all or in part, at 106. V. 109, p. 1990.
L'he "earnings" as bore snown include both tee dividends and interest
div, scrip is non-int. bearing and at time of issuance received and the company's proportion in the undivided surplus earnings
-The
Dividend Scrip.
no maturity was fixed. The board of directors, however, may at any time of the subsidiary companies for the periods in question, based on its holdinge
fix dates of maturities for the scrip to be issued and may do this without In said companies.
awaiting the time when the co. may be in position to resume cash dividends
---Month of August--12 Mos. end. Aug. 31All scrip representing cash div, will call for redemption in cash, while
1921.
1922.
1921.
1922.
scrip representing coin. stock divs. will be red. in Corn. stock at par, V. Gross earnings
$731,011 $14.131,156 $17,219,881
81.017,315
112. p. 2646.
613,681
132,391
45,343
Expenses
35,138
Dividend Scrip Purchasing Fund.-F.ir details see V. 113, P. 421.
$685,698 $13,698,763 $16,606,200
$982,207
Net earnings
Dividends.-Divs. on the pref, stock commenced with the date of or2,075,502
2,146,752
211,015
191,731
ganization Sept. 2 1910 and were paid monthly at the rate of 6% per annum Int. on notes & debs_ _
4,826,795
4.900,979
401,499
410,077
until Aug. 1 1914. Divs, at the same rate were resumed on Jan. 1 1916 Preferred dividends_ _
accrued accumulated diva. were paid in convertible debentures.
and the
8707,151 86.651.031 $9,703,901
Net to common stock_
$380,409
practically all of which have since been converted. Cash divs. paid legularly to and incl. Juno 1)921. Divs. were then paid in non-interest bearing
scrip up to Sept. 1 1922, when cash divs. were resumed. The scrip was
Combined Income Account of Subsidiary Companies.
redeemed either through payment in cash or conversion into 8% cony.
Surp. for
Interest Preferred
Net (after
Gross
debentures "E." V. 115, p. 649. Subsequent divs. of A of 1% monthly Calendar
Corn. Stock.
Divs.
YearEarnings. Taxes, ek.c.) Charges.
have been paid regularly in cash. An initial div. of A of 1% was paid
885,128.432 $23,704,543 $11,906.508 $5,491,724 $6,306,311
Jan. 1 1920 on tho 6% Preference B stock. Same rate paid regularly to 1921
118,259,500 36,143,690 12,824,447 5,260,202 18.059,041
and incl. June 1921. Divs. were then paid in non-interest-bearing scrip 1920
up to Oct. 1 1922, when cash divs. were resumed. The scrip was redeemed
-As of Dec. 311921, Cities Service Co. subsidiaries
OPERATIONS,
either through payment in cash or conversion into 8% cony. debentures owned 308 miles of&C.
track; 725 cars; 1,794 miles of artificial gas mains (on
"E." V. 114, p. 649, 873. Subsequent divs. of A of 1% monthly have
gas mains; 2,107 gas wells, and 3,807
been paid regularly in cash. Cash divs. on corn, stock began with the date 3-inch basis); 5,561 miles of natural
During 1921 carried 95,271,280 passengers, sold 5,849,050 M.
oil
of organization, Sept. 2 1910, and were paid monthly up to Aug. 1 1914 at the cu wells. artificial gas, 36.133,082 M.cu. ft. of natural gas and 617,751,497
ft. of
following rates per annum: 3%. 1910; 3%, 1911; 4%, 1912; 5%, 1913; 6%.
1914, and wore then suspended until Jan. 1 1916. at which time a distribu- k.w. hours and produced 11,565,993 bbls. of oil.
tion of6% of convertible debentures was made, and on July 1 1916 a further
-Ps., Frank W.Frueauff, Thomas
OFFICERS.-Pres.. II. L. Doherty; V.
distribution of 3% of convertible debentures. Since that time to and I. Carter and E. H. Johnston; Sec., Paul R. Jones; Treas., Louis F. Musil,
including June 1 1921, cash dividends were paid on the common stock at the N. Y. office, 60 Wall St.
-V. 113, p. 850, 1057, 1159, 1364, 1578, 1775.
paid in non-interest bearing 1891,
rate of6% per annum. Subsequent dividends
1986, 2188, 2725; V. 114, p .202, 525, 631, 742, 1760, 1769. 1785.
scrip. For details see under "Dividend Scrip" above and V. 112. 2120, 2363, 2828; V. 115, p. 187, 441, 619, 873, 1325, 1439, 1537, 1812.
p. 2646. On Sept. 1 1916 a dividend of 2% in common stock war
paid. During
paid and on Dec. 1 a dividend of 4% in common stock was
(1) Adrian (Mich.) St. Ry. Co.
1917 the co. declared a div. of 6% payable in corn, stock; in 1918, 9% in
cora, stock, and in 1919 12% in corn. stock. The company paid a div. of
Organization.-Incorp. in Mich. on Feb. 13 1900 as a reorganization of
1 % in corn, stock on Feb 1 1920, placing the div. at an annual rate of the Adrian Street it till.ray Co. Cities Service Co. owns all of the $30,000
15%. Stock divs. at this rate were paid regularly to and incl. Juno 1 1921. capital stock out tanding and all of the $75.000 1st M. 5% bonds.
bearing scrip. See under "Dividend
Subsequent divs. paid in non-int.
Fares.
-In Oct. 1920 fares were raised from 5 cents to 10 cents. V. 111,
Scrip" above and V. 112, p. 2646.
Divs.(cash.) on "Bankers' Shares": In 1919,$4.11; In 1920, Jan., 46.1c., 112, p. 1660.
Feb., 55.9c.; March, 51.7c.; April, 50.2c.; May. 53.8c.: June, 49c.; July,
-Exi)Ives in 1935.
Franchise.
46.2c.; Aug., 45.6c.; Sept., 42c.; Oct., 40.75c.; Nov., 41.5c.; Dec., 43.5c.:
-Does the entire electric railway business in Adrian. Mich.
Road. &c.
In 1921, Jan., 39c.; Feb., 31c.; March, 3634cs April, 35c.; May. 35c.
3.89 miles of track and 6 passenger and 4 other motor cars. 50-70-1b. T
Juno, 35.5c.; July 1 1921 and since to date in scrip.
and girder rails; standard gauge.
"Bankers' Shares."-Tlie company deposited with the Bankers Trust Co..
-P., Morton C.Seeley
Officers.-Pres. & Gen. Mgr., Frank R. Coates; V.
N. Y., 30,000 shares (par $100) of common stock of the co., against Sec. Henry T.Ledbetter; Treas., A.C. Van Driesen.-V. 110, p. 2567; V.
which were issued 300,000 non-voting certificates known as "Bankers'
P. 561.
shares, each share representing 1-10th of a share of said common stock.
Holders of the Bankers' shares have the right to surrender their holdings
-A trolley road.
4) Athens (Oa.) Railway & Electric Co.
and receive therefor 1 share of corn. stock ($100) for each 10 shares of
Bankers' shares deposited prior to July 1 1921. The stock divs. accruing
-Incorporated in Georgia on April 1 1910. PurORGANIZATION.
to the corn. stock deposited were sold each month and the proceeds, to- chased Athens Elec. Ry. Co. Leased for 99 years from May 1 1911 the
gether with the cash divs. on such stock, paid the holders of these Bankers' James White Power plant. V. 90, p. 1101, 1423. Hydro-electric stations
shares each month. Beginning July 1 1921 all divs, were paid in scrip. at Mitchell's Bridge, Tallassee Shoals and Barnett Shoals (James White
Additional shares may be issued at the option of the company or II. L. power plant); steam station in Athens. Owns and operates entire street
Doherty & Co., its fiscal agents. V. 108. p. 881.
railway, electric light and power systems in Athens. Wholesales energy at
Convertible 7% Debentures, Series "B."-Denom. (1) COUP.(el bonds, Jefferson, Ga. Population served, over 22,000. Franchise unlimited in
1
$500 Ss 61.:00, int.J.& J.; (2) reg. bonds, $5,000, $1,000, $500 or $100; int. time.
-J., J. & J., or annupayable by check,at buyers option, either monthly, Q.
-On Aug. 26 1921 was auth. by the Ga. RR. Comm. to increase
Fares.
ally Jan. 1;(3) registered bonds,$10 r snultiples thereof,less than $100,int. fares from 6 to 7 cents. V. 113,p. 1052.
payable annually Jan. 1. Each $lot) of principal amount is convertible,
Interest. Outstanding. Maturity.
at the option of holder since Jan. 1 1920, on the first day of any month,
STOOK AND BONDS- Date,
5750.000
Into $80 par value of preferred stock, and $20 par value of common stock, Stock, corn $750.000 ($100)
together with an amount of cash and stock equal to the dividends paid Stock, pref (5%,cum) $300.300.000 Oct. '22.
000 ($100)
on an equal amount of cominon stock from Jan. 1 1918 to the date of con350.000 July 1 1950
version, $43,600 are owned by company not incl. in amount outstanding. 1st & ref M $2,000.000 gold( 1910
5g
sinking fund (61.000)c* cptf Int. at Farmers' Loan & Tr. Co., N. Y., Tr.
Callable, all or in part, by lot or by distinctive numbers at 102 and int. on
172,900 June 1 1936
8%
4 weeks notice. If called for redemption, the right to convert is secured for at Gen. mtge. & con. tr. Ser."A"j 1921
Tg st Co., Ph3i81a8..bor
lw n
Cotoi ial 6 ruA-O
5
least 30 days prior to redemption date. Interest payable without deduction A t11en 00, ec
3.
$ , s 00
Octel 1931
trIc By 1st mtge i
tff
of normal Federal income tax. V. 106. p. 1126: V. 107. p. 607. 699. This
$400.000 ($1.000) gold; Interest at Title Guar. St Trust Co.. Atlanta,
issue has been closed. Up to Ott. 1 1922 95,000 shares of coin, stock had
c*cpsl Trustee. or Old Colony Trust Co., Boston.
been deposited against which Bankers' shares have been issued.
-Preferred stock is redeemable at 105.
Stock.
Convertible 7% Debentures, Series "C."-Denom. coupon bonds, $500
-Of the 1st & ref. bonds, $388.000 are reserved to retire underBonds.
& $1,000, int. J. & J.; registered bonds, $5,000, $1,000, $500. $100, $10
lying bonds, $179,000 are pledged to secure the gen. mtge. & coll. trus
lat, payable by check, monthly, quarterly
and multiples of $10,
improvements at 75%
bonds
semi-annually, or annually, at option of holder; except that onon Jan.o a Series "A" 8s and $996,000 for acquisitions andint, on all- bonds out of
and
cost, but only when net earnings are 1A times
lass than $100 principal amount, Interest is payable annually
amount of these debentures is convertible (at those to be issued. $50,000 are in treasury. $37.000 have been retired.
only. Each $1,000 principal
to call at 110,
option of holder) into 9 shares of Cities Service pref. stock and 1 share i Sinking fund of 1% began in 1915. Bonds are subject




96

ELECTRIC RAILWAYS

V. 93, p. 665. The Gen. Mtge. & Coll. tr. 8% bonds ser "A" have a
sinking fund which will retire 90% of these bonds by maturity. Are call.
on a 6% basis. Tax refund in Penna.. Maryland and Dist. of Columbia
Of the Athens Elec. Ry. 1st M.. entire issue, but no lesser part, may
be called at 106 and lot. See V. 73.D. 1311.
-On pref., 6% per annum in 1904 and 1905. 53
Dividends.
,
1% in 1906
6% 1907 to 1910, 5% in 1911 and to and incl. Oct. 1922. Divs. on corn
stock are no longer reported as Cities Service Co. owns over 99% of same:
-Owns 8.93 miles of track. Standard gauge 60-1b. A. S. C. It.,
ROAD.
70-1b. T. rail. 15 motor pass. and 2 motor work cars; 2 other cars 4 power
plants, 7,750 capacity.
-P., F. W. Frueauff, Dale B
OFFICERS.-Pres., C. D. Flanigen; V.
Carson and B. Phinizy; Sec. & Treas., J. M. Billings. Office, Athens, Ga.V. 107. p. 1191; V. 108, p. 169; V. 113, p. 70, 1052.
-Entire stock (except directors shares)
(3) Bartlesville Gas & Elec. Co.
owned by Cities Service Co. This co. was formerly known as the Bartlesville Interurban Ry. Co. Name was changed to present title on Oct. 1
1920, and property of Bartlesville Gas & Oil Co. was acquired. As of same
date, co. transferred its railway property to the Bartlesville Interurban Co.
Railway (service discontinued July 15 1920. See V. 110, p. 1860.) As the
co.'s operations are now confined solely to gas and electric business we have
eliminated the co's statement from this supplement. V. 110, P. 10'18, 1186
For history of Bartlesville Interurban By. see "Electric Railway" Supplement of Nov. 15 1919.
(4) City Light & Traction Co.
ORGANIZATION.-Incorp. In July 1912 in Missouri as successor to the
Sedalia Lt.& Trac. Co.,sold at foreclosure. V. 95. p. 419. See plan under
Sedalia Lt. & Trac. In V. 94, p. 1058. Purchased Sedalia Ice, Lt. Sc Fuel Co
Does entire artificial gas, electric lignt and power, and electric railway
business in the city of Sedalia; also manufactures and sells ice. Population
served over 21,000.
Franchises.
-Gas expires in 1926; electric in 1940; and railway in 1940.
-Effective Oct. 1 1918 was auth. to increase gas rates
Rate Increase.
by about 20%. V. 107, p. 1384.
Fare Increase.
-Effective Oct. 3 1919 was auth. by the Mo.P. S. Comm
to increase fares to 6 cents. V. 109, p. 1891; V. 110, p. 167. In Aug. 1921
the co. put into effects 10c. cash fare with tickets at 6c. V. 113, p. 627.
Interest. Outstanding. Maturity
STOCK AND BONDS- Date.
Common 31.000.000 ($100)$1,000,000
Pref $500.009 (see text) ($100)
4,500
First mortgage $2,500.0001 1912
5 J-D
1,317,500 June 11962
gold sink fd ($100. $250, Int. at office of co. or H. L. Doherty & Co.
c*cptj N. Y. New York Trust Co., N Y.,
$500, $1,000)
1 Sedalia Trust Co., Sedalia. Mo., Trustees
Sinking fund of 1% of bonds out began June 11922; rel. at 105 awl int.
on 4 weeks' notice. Additional bonds may be Issued for 85% of impts.
Divs. on pref. were paid for the year 1913 at the rate of 1%,and increased
by 1% each year until 1917, when 5% was reached. Divs. are pAyahle
June and December. Divs. are guar. by Gas Securities Co. Pref. stock
Is convertible into bonds, $ for $, under certain restrictions.
ROAD -Owns and onerates 5.6 miles of track. 21 motor pass. cars and
6 trailers; 2 other cars. Standard gauge, 50 and 70-lb. rails. Has steam
power plant with 2,200k. w.capacity. 45.91 miles distribution lines. Has
26.25 miles of gas mains.
-P., T. I. Carter; V.
OFFICERS.-Pres., F. W. Frueauff; V.
-P., Gen.
Mgr. & Treas., H. C. Feuers; Sec. Allen O'Bannon.-V. 107, p. 1384;
'
V. 109, p. 1891; V. 110, p. 167; V. 113, p. 627; V. 114, p. 853, 1650.
-A trolley road
(5) Cumberland & Westernport Electric Ry. Co.
-Organized In Maryland on April 11 1902 by special
ORGANIZATION.
Act of the Legislature, as successor to the Frostburg Eckhart & Cumberland
Ry. Has absorbed the Lonaconing Midland & Frostburg Ry. and the
Westernport & Lonaconing. Population served over 50.000.
Valuation.
-In Dec. 1920 valuation was placed at $1,888,304. V. 111
D. 2520.
Interest. Outstanding. Maturity
STOCK AND BONDS- Date.
Stock $1.000.000 ($50)
West'p't & Lonac'g. $225.0001 1903
5 J-J 15
$62 5 00 Jan. 15 1928
25 0
($500 & $1,000)
csptl Int. at Real Estate Trust Co..Phila.. True
Frost Eck & Cum Ist M $250.-1 1901
5 g J-D 15
230.000 June15 1926
Real Estate Trust Co..
000g($5OO& $1.000)_c"cpti Int. at
Trust
Lonac Mid & Frost first mtget 1901 5 g J-D 15
200,000 June15 1926
Phila..
$200.000 g ($1.000) _ _c*cpti Int. at Real Estate Trust Co., Phila.. trust
The above bond issues are callable at 105 and int.
ROAD.
-Operates 27.40 miles (2.50 operated under trackage rights) of
track between Cumberland. Eckhart, Frostburg, Lonaconing and Westernport, passing through other communities; 60. 75 and 92-lb. T and girder
rail: standard gauge. 21 motor cars (15 pass.) arid 1 other car.
-P., F. W. Frueauf; Sec.-Treas.,
OFFICERS.-Pres., H. L. Doherty; V.
-V. 104, p. 2f451; V. 111, p
H. N. Beckett; V.
-P. & Mgr.. D. D. Price.
2520.
(6) Durham Public Service Co.
ORGANIZATION.-Incorp. in N. C. Jan. 29 1901 as Durham Traction
Co. (name changed to present title early in 1921). Cities Service Co.
owns all the corn. stock. Company owns and operates all the street
railway lines and does an electric light, power and artificial ice business In
the City of Durham, N. C. Population served, 35,000.
Fare Increase.
-In 1920 fares were raised from 7 cents with 4 tickets for
25c. to 8 cents with 4 tickets for 30 cents.
Outstanding
Date. Interest.
Maturity.
STOCK AND BONDS300,000
Common, $300.000 ($100)6-J.
200,000
Preferred $200,000 ($100)____ ____
522.900 April 1 1936
8 A-0 1
Gen mtge ser "A" $650,090 1921
($100, $509 & $1,000) gold West End Trust Co. and Ernest H.Johnston
Trustees.
Call at 102 & int. on 60
c*
days' notice
Durham Trac Co 1st M.,
$400.000 cum. (closed) 1901
5 g M-A 1
400,000 Mar. 1 1941
Maryland Trust Co., Bait., Trustee.
($1,000) gold
c*tf.
-Year ended Dec. 311921, gross, $545,274; net, $147,561.
EARNINGS.
In 1920, gross, $455,274; net, $147,561.
-11.05 miles of track; 21 passenger motor cars, 1 motor service
ROAD.
-Standard gauge. 60-1b. T and 80-lb. girder rail.
car and 1 other car.
Overhead trolley.
-P. & Gen. Mgr. R.L.Lindsey;
OFFICERS.-Pres., F. W. Frueauff; V.
'
-P., T. I. Carter; Sec. & Treas., A. W. Grady. Office, Durham, N. C.
V.
-V. 113, p. 2405.

[VOL. 115.

-lb. T rail and 73
ROAD.
-11.128 miles of track, standard gauge, 70
to 98-lb. girder and groove. 12 motor and 2 other cars. Power station
capacity 5,220 k. w., 84.1 miles distribution line. Has 29.28 miles of
gas mains.
OFFICERS.
-Pros., J. W. Parker; V.
-P., S. B. Irelan and Louis Threefoot; Gen. Mgr., Sec. & Treas., H. G. Bonner. V. 90, p. 914; V. 91, p.
336; V. 92, p. 1113; V. 107, p. 603; V. 10, p. 248; V. 112, p. 2537.
(a) Hattiesburg Traction Co.
Meridian Lt. & By. Co. owns all the stock.
ORGANIZATION.
-Organized in 1905 as Hattiesburg Traction, Light
& Fuel Co. Name changed to above in Nov. 1906. Sept. 2 1907 purchased
Hattiesburg Gas Co. and Hattiesburg Light & Power Co., giving company
control of artificial gas, street railway and electric-light and power business
of city. Electricity and street railway franchise 25 years from 1906: gas
Franchise expires in 1930. Has contract for lighting city streets. Pop.
served, 17,000.
Fare Increase.
-cent cash fare with
-On Aug. 1 1918 put into effect a 7
29 tickets for $1 25. V. 107, p. 802. Effective March 1 1921. cash fares
in Hattiesburg were raised to 10 cents. V. 114, D. 198.
Rate Increase.
-On Aug. 1 1920, increased gas and electric rates were
put into effect.
Maturity
STOCK AND BONDS- Date.
Interest. Outstanding
Stock $500,000($100)
$500.000
Lot mtge $300,000 (31.000)1 1908
6 J-J
226.00G Jan 1 1928
r&c cptant. at Guaranty Trust Co., N. Y., Trustee
Gen lienmtge 32,500,000 gold( 1912
d
6 J-J
333,000 July 1 1952
c*cpt( Int. at office or agency of Co. N. Y., or at
($1,000)
'First Nat. 13k., Mobile, trustee.
Bands.-Skg. fd. retires 1st mtge. by purchase $5.000 bonds annually, be.
ginning Jan. 1 1909, at a.premium up to a 5% basis, bonds cannot be called.
V. 87, p. 97; $74.000 have been retired. Of gen. lien bonds. $212,000 are
reserved to retire 1st mtge. bonds. Add'i bonds may be drawn for 85% of
impts. Bonds are callable at 105 & int. on any int. date on 4 weeks' notice
Sinking fund. 1%, began July 1 1916.
ROAD.
-8.665 miles of track. Standard gauge. 70-lbs. and over
A S. C. E.
-T rail. 13 motor and 3 other cars. Power house capacity;
2 100 k. v. a.; 28 05 miles distribution lines. has 14.22 miles of gas mains.
-Pros,, F. W. Frueauff, N. Y.; V.
-P., M. R. Bump, N. Y.,
OFFICERS.
and ft. E. Burger, N. Y.; Sec. & Treas., Howard McDavid; Gen. Mgr.;
John L. Haley.
-V.93, p. 731, V. 93, p. 679; V. 107, p. 802; V. 114, p. 198.
(8) Richland Public Service Co.
In 1922 was merged into the Ohio Public Service Co. For history up to
time of merger, see "Electric By. Supplement of Apr. 29, 1922.
(9) St. Joseph Railway, Light, Heat & Power Co.
On Jan. 1 1913 the Cities Service Co. acquired control and now owns
Cities Service Co. guarantees the
over 95% of the common stock.
J% div. on the outstanding pref. stock. V. 96, p. 136. See also V. 97,P.366.
ORGANIZATION.-Incorp. In Missouri on Nov. 8 1895 as a consolidation of the St. Joseph Traction & Lighting Co., People's Hy., Light
Sc. Power Co., Citizens' Ry. Co.. Union Ry. Co., St. Joseph & Lake Ry. Co.
and Wyatt Park Ely. Co. Controls the entire electric light and power and
central heating business, and owns and operates the street railway system
in St. Joseph, Mo., and an interurban line between St Joseph and Savannah, Mo. Sells energy at wholesale for distribution in following communities: Savannah, De Kalb, Washena (Kan.), Amazonia, Curzon, Forest
City, Bigelow and Oregon. Principal railway franchises are perpetual;
others expire P., om 1935 to 1958. Franchise for electi ic service unlimited in
point of time. Franchise for heating service expires in 1944.
During 1912 a contract was made with the Kansas City Clay County &
St Joseph Ry. (see under "Kansas City"), under which that company's
cars from Kansas City are operated over the tracks of this company.
New Mortgage.
-In 1916 the Mo. P. S. Comm. auth. the company
to create a new issue of 1st & ref. M. sinking fund 5% 30-year bonds, and
to execute, with the St. Joseph & Savannah Interurban By., a joint mortgage to secure the bonds.
Rate Increase.
-In June 1918 was auth. by the Mo. P. S. Comm. to increase lighting rates to 9 mills per k. w. h., effecting an increase of $8,000
monthly in revenue. V. 106, p. 2650.
Fares.
-On Dec. 1 1919 a 7
-cent fare went into effect on the co.'s lines
while the co.'s trainmen received an Increase in wages of 8 cents per hour.
V. 109, p. 2440. Compare V. 107, p. 2()98. In July 1920 was auth. by
the Mo. P. S. Comm. to raise fares on the Savannah interurban line for a
period of 7 months. For details see V. 111, p 494.
On Jan. 7 1920 the co. filed suit against the Mo. P. S. Comm. asking for
a permanent injunction to restrain the Comm. from enforcing a 7-cent fare
In St. Joseph and that the court order an 8-cent fare and higher lighting and
heating rates, the co. contending that present rates were confiscatory.
V. 110, p. 872. On Nov. 12 1921 Judge Van Valkeriburgh in the U S.
Dist. Court in Kansas City, Mo., handed down a decision enjoining the
P. 8. Comm. from enforcing its 7-cent fare order. The issue involved was
the proper formula for fixing the rate-making valuation. the Comm. holding that the average cost of materials, &c., over a 5-year period preceding
ihe war should be used, while the co. contended that it should be based on
the present cost of materials, &c. The Comm. were appealed to the U. S.
Supreme Court. V. 111. p. 2230, 2325. An agreement was reached
with the city and on July 31 1921 the co. put into effect an 8-cent cash fare
with 3 tickets for 20 cents. Compare V. 112, p. 1867.
Valuation.
-Early in 1920 the Mo. P. S. Comm. fixed the value of the
Co.'s holdings for rate making purposes at 35,800,000, while the co. holds
that $11,521,639 is the fair valuation. V. 110, p. 872 The co. has appealed.
Date. Intetest. Outstanding.
STOCK AND BONDS
Maturity.
Corn stock $3,500,000 3100)$3:5)0 000 sep ee 22 tu
1 560:0 0
(
0
St , tex1
____
5 Q-J
Prof stock 5% cumulative
$2.500.000 ($100)
5 g M-N
First nage $5,000,000 gold 1902
5.000.000 Nov 1 1937
c*_cpt Interest payable in New York July 1 1946
69
41.0001 ______
5 g J-J
tot & ref mtge 415.000.000) 1916
gold ($100. $500, &$1.000) Interest payable in New York
c*.tf
-The 1st & ref. mtge. bonds are a first lien on the interurban
Bonds.
line between St. Joseph and Savannah, Mo.,and a general lien on remaining
property, subject to $5.000,000 1st N1 5s, for retirement of which an equal
amount of 1st & ref. 5s is reserved
Additional bonds may be issued only
for 85% of cost of add'ns, este., &c., under conservative restrictions, or for
85% of 1st M. bonds retired through the supplemental sinking fund.
Sinking fund. 1% of bonds out, for purchase or red, of bonds of this issue
at l023', or of 1st M. bonds at 105; or, at option of co., 2% for construction, acquisitions, add'ns or 'mete. While any 1st M. bonds are outstanding, the co. must pay, as a supplemental sinking fund, an additional
I% of the amount of bonds of that issue outstanding to be applied as above
set forth, or may expend in construction 1% of the amount of the bonds
outstanding. 1st & ref. M. bonds canceled in sk. fd. but 1st M.kept alive
until all bonds have been deposited with the trustee. First & ref. bonds are
red. on any int. date at 10234 and int. Trustees are Bankers Trust Co.,
N. Y., and Mississippi Valley Trust Co., St Louis. Legal investment for
Maine savings banks. V. 103, p. 1302. Trustees for the 1st M. bonds are
Equitable Trust Co., N. Y., and Missouri Valley Trust Co., St. Joseph.
Bonds cannot be called. V. 75, P. 1032. The 1st M. bonds are listed on
the Phila. and Louisville stock exchanges.
Dividends.
-5% per ann. has been regularly paid on pref. stock since Oct.
1902. First div. on corn, stock paid Dec. 1908, 1%;in 1909, 2%; 1910, 2%;
In 1911, 2%. In 1912, Mar.. %;June, Ji %; Sept.. (7 Dec.. %. A
s;
dividend at the rate of 2% per ann. was paid Feb. 1 1913 for the 2 months
succeeding the regular payment in Dec. 1912; dividends were paid quarterly
to Sept. 1919. None since

(7) Meridian Light & Railway Co.
ORGANIZATION.-Incorp. in Mississippi in Feb. 1901 as a reorganization of the Meridian St. Ry. & Power Co. Does entire street railway,
artificial gas and electric business in Meridian. Owns all the stock of the
Hattiesburg Trac. Co. Franchises are for 50 years from Oct. 4 1895 for
street railway and from Dec. 1900 for gas and electricity. Contract for
lighting streets. Population served, 27,500.
-In Oct. 1920 electric and gas rates were advanced and street railRates.
way fares were raised to 10 cents. See also V. 112, p. 2537.
Interest. Outstanding. Maturity
STOCK AND BONDS- Date.
$2.000.000
Common $5.000.000 ($100)
750,000 Mar 1 1944
5 g M-S
mtge $750.000 gold ($5001 1904
lot
c81 lot. at First Nat. Bank of Mobile, trustee
and $1,000
1.089.000 Mar 1 1948
5 NI-S
Gen mtge of $5.000.0001 1910
gc*cptlFirst Nat. Bank of Mobile, Trustee.
($1,000)
Bonds.
-A sinking fund of 1% of 1st M. bonds became operative Sept. 1
1906. $195,000 of outstanding bonds are held in sink. fund. Bonds are
LATEST EARNINGS.
-For 12 months ending Dec.
subject to call on 3 weeks nog !r3 at 105. V.92, p. 1311. 8750.000 of gen.
Operating
Net
Gross
Bond
mtge. bonds are reserved to retire 1st mtge. bonds and $3,026,000 may be
Expenses. Earnings. Interest.
lonths-- Earnings.
drawn for 85% of impts., &c. Sinking fund of 1% of gen. mtge. bonds
Balance.
out began Sept. 1 1917. $23,000 held in sinking fund. Red. at 105 on 4 1921
$2,243,924 $1,940,857 $303,066 $284,750 sur.$15,316
12
weeks' notice. Int, at office of trustee or office or agency of co. in N. Y.
2,259,252
2,481.764
1920
222,512
284,750 def. 62,238




ELECTRIC RAILWAYS

OCT., 1922.)

97

o_per.
ture further provides that, initially, amounts totaling 12% of the gross
50-70-lb
-59.464 miles of track. Standard gauge; plant . T and revenue from the electric dept.. 10% of that from the gas dept., and 25%
PROPERTY.
capacity.
Generating
from
&der rails; 106 motor and 20 other cars. miles distributing lines.
of that from the heating dept. shall be either expended or appropriated due
280
22.600 k.w.; 23.35 miles of primary and
each year's earnings for maintenance and replacements. The 7% bonds
-P. & Gen. Mgr.. 1941 are callable at 110 and int. on any int. date on 4 weeks' notice, to and
N. Y. City; V.
OFFICERS.-Pres., F. W. Frueauff,
, St. Joseph. incl. Sept. 1 1926; thereafter at 10734 and int, to and incl. Sept. 1 1931:
B. 0. Adams, St. Joseph; Sec. & Treas., J. R. Abercrombie
872. 2568; thereafter at 105 and int. to an incl. Sept. 1 1937; and thereafter at a
-v. 107. p. 2098; V. 108. p. 270; V. 109. p. 2440; V. 110. p.
premium of 1% for each year, or fraction thereof, of unexpired life. The
V. 111. p. 494, 2230. 2325; V. 112, p. 1867.
Sept. 11922,
5% bonds "series due 1947" are callable at 107.38 and int. onwhich, except
Co.
and thereafter on any int. date on 4 weeks' notice at prices
(10) Toledo. Ottawa Beach & Northern
bonds were held to
In Ohio on Oct. 27 1906 as a consolidation for redemption, would equal a 4%% yield basis if V. 113, p. 1368; V.
ORGANIZATION.-Incorp.
maturity, plus int. Penna. 4 mills tax refunded.
Co. and Ottawa Beach & Southern Ry
of the Toledo & Point Place Ry.Cities Service Co. owns over 99% of the 114, p. 2833.
Co. Franchise expires in 1929.
The Toledo Gas,Electric & Heating Co. bonds are guaranteed by endorsecapital stock and all of the outstandco.'s $1,500,000 (auth. and outstdg.)
ment by the Toledo Edison Co. $137,600 retired. They are not subject
ing $453,000 1st M. 5% bonds (31.500.000 auth.).
and Toledo to call.
-Operates an electric railway between Toledo
ROAD, &c.
with Point
-Of the Toledo Edison Co.
EARNINGS.
Beach. Mich.; also operates a branch line connecting Toeldo
right of way
-Years end. June 31- -Years end. Dec. 31Place, 0. Supplies energy for light and power service along
1920.
gauge
1921.
rights);
1921-21.
1921-22.
26.59 miles of track (9.84 operated under trackage Tractionstandard
Co.
$6,212,138 $6,315,275 $6,155,498 $5,525,833
T-ra,i1; cars leased from Community
Gross earnings
-lb.
60 and 70
1,971,002
2,511,948
2,355.677
2,638,593
-P., Rathbun Net,after taxes
OFFICE1M-Pres. & Gen. Mgr., Frank R. Coates; V.
Fuller; Sec., H. T. Ledbetter; Treas., A. C. Van Driesen.-V. 114, p. 1653.
-Operates 2 electric generating stations in Toledo,
PROPERTY, &C.
with total installed generating capacity of 97,580 k. w. Including a recently
The Acme power
-A holding company.
installed 20,000 k. w. unit at the new Acme power plant. designated for an
(11) Toledo Traction. Light & Power Co.
40,000 k. w., is
Cities Service Co. has acquired over 95% of the outstanding common and plant, with a present installed capacity of
is
generating capacity of from 200,000 k. w. to 300,000 k. w .and
ultimate
over 96% of the preferred stock. V. 103. p. 1119.
of electric power for
the planned to be eventually the main source of supply
ORGANIZATION.-Incorp. In Maine on Jan. 30 1913 to acquireCo.) Toledo and vicinity. Company now serves over 48.000 electric customers
to
stock and bonds of the Toledo Rys. & Lt. Co. (now Toledo Edison
having a total connected load of over 132 000 k. w. Gas is distributed
in connection with the re-organization of that company as per plan in V.95. over 6,000 customers and the heating plants supplies over 800 customers.
p. 1040; V. 96. P. 361.
-P., Frank Frueauff,
In June 1916 minority shareholders were given further opportunity for a
OFFICERS.-Pres. & Gen. Mgr., F. R. Coates; V.
limited time to exchange stock on original basis. V. 102. p. 2344. Over Dale B. Carson, Rathbun Fuller and F. J. Derge; Sec., H. T. Ledbetter;
01% of the stock has been acquired.
-V. 113, p. 1583. 1683; V. 114, p. 2133; V. 115, p. 191,
Treas., S. D. Carr.
The Toledo Traction, Light & Power Co. owns (a) $13.135,400 (over 445, 1642.
•
.94%) Toledo Edison Co. corn. stock; (b) $1,393,400 Toledo Edison
Co. Preference stock 7% cum. Ser. A; (c) $7,671.000 (100%) Com(12) Western Light & Power Co.
munity Traction Co. 1st Mtge. 6% bonds; (d) $500,000 (100%)
stock.
Colorado
Community Traction Co. 8% cum. Pref.
ORGANIZATION.-Incorp. in Colo. in 1906 as the Northern
In Aug. 1922 issued $6,500,000 3-yr.6% secured notes and called for pay- Power Co. Name changed to present title in July 1914. Owns and conthe outstanding 1st lien 7% bonds and 3-yr. 7% trols Cheyenne Light, Fuel & Power Co.
ment Sept. 1 1922 all
and
debentures due Dec. 1 1922. V. 115, p. 646.
The Western Light & Power Co. does the electric lighting and power
Boulder; also supplies electrical energy
Interest. Outstanding. Maturity. ele-tric railway business in the city of
ColoSTOCK AND BONDS- Date.
for light and power service in a number of communities in Northern Co.
$7.882 843
Common 29.200.000($100)_
rado. Supplies energy for operation of the Denver & Interurban RR.
----6,661.675
See text
Through its subsidiary,
Pref$8.000.000(2100- 6% cum __6,500,000 Aug. 1 1925 and the street railway at Fort Collins and Greeley.
-A
3-yr. secured notes $7,500,000) 1922 6 g F
company does the electric lightSay. Bank,Chicago, trustee. the Cheyenne Light, Fuel & Power Co., the
($500 and $1,000) gold_ _ctfJHarris Trust &
and power, artificial gas and steam-heating business, and supplies enhug
-The 3-yr. 6% notes are secured by pledge of $7,521,000 1st ergy for operation of the street railway system at Cheyenne. Wyo. PopulaNotes.
corn, stock
mtge.6% bonds of the Community Trac. Co. and $13,000,000 is provided tion of communities served is in excess of 74.000.
Sinking fund of over $200,000 per annum
of Toledo Edison Co.
-In Jan. 1922 holders of Western Lt. & Pow. cons. and
Exchange Offer.
and
for. Call. on 1st day of any month on 30 days' notice at 10131 andint., pref. stocks were offered the privilege of making the following exchange:
int.
100S4
during first year, at 101 and int. during second year and at V. 115, p.646. (a) For each $100 par value Western Lt. & Pow Co. pref. stock, 10 shares
during third year. Penna. and Conn.4 mills tax refunded.
Cities Service Co. 6% cum.saref. B stock of $10 par value. (b) For each
-Ps., Frank R. Coates and Dale $100 par value Western Lt. & Pow. Co. coin, stock, 1 share Cities Service
OFFICERS.-Pres., H. L. Doherty; V.
pref. B stock of $10 par value.
F. Musil.-V.
B. Carson; Sec., Edgar E. McWhiney; Treas., Louis p. 646, 1322. 109. Co.6% cum.
p. 2264, 2357; V. 110, p. 1613; V. 113, p. 1361; V. 115,
STOOK AND BONDS- Date. Interest. Outstanding. Maturity.
$2.000,000
Common $2,000,000 ($100)-Controlled by Toledo Trac.. Lt. & Pow. Co.
1.000.000
7%
(a) Toledo Edison Co.
Pref *1.500.000 ($100) cum_
5 g M-N1 2.275.000 May 1 1925
changed from Toledo lst M 26.000.000 ($100, 25001 1915
ORGANIZATION.-Incorp. July 11901. Name which time the new.
of America, New York, Trustee.
c*JBank
& $1.000) gold
Rys. & Light Co. to present title in Oct. 1921, at
175,000 July I 1925
5 g J-J1
stM1 1900
was acquired
generating station and other property of the Acme Power Co.and power in CheyenneLt,Fuel&Powl .c.JAmer.Loan St Trust Co.. Boston, Trustee.
$175,000($100&$1,000)g
electric light
The company supplies without competition, heating plant and distributes
Toledo and suburbs, operates a central station
-91.6975% of corn,stock and $930,200 of pref. stock is owned
STOOK.
by-product gas. Population served, approximately 310,000. Franchises by Cities Service Co.
burdensome restrictions.
are all unlimited as to time and contain noin Toledo were taken over On
to retire the
for
Fkmds.-Of the remaining 1st M. 5s sufficient are set asidebonds may be
Feb. 1 1921 the company's street car lines
maturity. Additional
of
qperation by the Community Traction Co. under the termsat a 25-year Cheyenne Lt. F.& P. 1st M.bonds at
&c., under certain restrictions.
wholesale drawn for 851 of additions, improvements.
service-at-cost franchise. Toledo Edison Co. is supplying
date or on 60 days' notice at par
part by lot on any
under a long-term contract all power required by Community Traction Co Are red, all o in fund is provided forint. the indenture. The Cheyenne
under
and int. Sinking
See below. Power station capacity, 97,580 k. w.
Light, Fuel & Power bonds have a sinking fund of $4,000 per annum
-The Community Traction Co. $79.300 in sinking fund as of Oct. 1 1922.
-Community Traction Co.
Service-at-Cost
as of Feb. 1 1921 took over the operation of
was organized 'tug. 22 1919 and
pai's.
under the
-Overhead trolley. 6.265 miles; gauge, 3 ft. 6 in. 5 motor Total
ROAD.
the street car lines in Toledo of the Toledo Railways & Light Co.the
car. Rails, 50, 65 and 80-1b. T.
voters
Milner service-at-cost 25-year franchise, which was approved by as follows: cars, 7 trailers, 1 work motor w.
plant capacity, 9,350 k.
new co. Is capitalized
power
on Nov. 2 1920 (V. 1 1 1, p. 2042). The
Corn, stock, 310.000.000: 8% pref. stock, $2,000,000; first mtge. 6% 25-P., & Gen. Mgr.. C. A
OFFICF,R8.-Pros.. F. W Frueauff: 1st V.
year bonds, $20 000 000.
-P., T. I. Carter; Sec. Paul R. Nines;
-P., Paul Lee: 3d V.
were delivered to Semrad; 2d V.
Under the terms of the franchise the $8.000.000 bonds
-V. 113;p. 427.
F. Musil. Office, Boulder, Colo.
Treas., Louis
the Toledo Rys. it Light Co. in exchange for the street railway properties
and the $2,000.000 of 8% pref stock is to be sold by the company to provide $100.000 working capital, a $400,000 stabilizing fund (which latter
two amounts have been successfully raised), 51.000.000 to be used for reNEWBITRGH, N. Y.
routing and re-arranging the street railway system and $500,000for renewals
ORANGE COUNTY TRACTION CO.
and replacement on the property of the co.
the co. is entitled will be an amount sufficient
The rate of return to which
-Organized Oct. 16 1901 and acquired the Newburgh
ORGANIZATION.
to pay 6% upon its bonds and 8% upon its pref. stock outstanding. The
under foreclosure. The Newburgh Electric 1st
entire issue of corn,stock is held by the City of Toledo Sinking Fund Trustees Electric Ry. Co.. sold
& Orange Lake RR. and the Newwith 1 cent for transfers for mortgage bondholders and the Walden reduction in their interest from 6%
Under the new franchise the fare of 6 cents
RR. agreed to a
the first six months went into effect Feb. 1. The old fare was 7 cents cash burgh & Orange Lake p. 138.
5%.
with 2 cents for transfers. There is no maximum rate of fare provided in to Fare See V. 73. Dec 1917 the P. S. Comm.auth. the co. to increase
-In
the franchise, but a schedule of fares is set forth and the steps contained in fares in Increase. from Sc. to 6c.
Newburgh
the schedule upon increase or decrease of the fare are to be observed.
-cent cash with a 1-cent charge
to 7
Interest Outstanding. Maturity.
Effective Aug. 1 1921 fares were raised
STOOK ANDIBONDS- Date.
for transfers and tickets at 8 for 50 cents. V. 113, p. 416. Effective
2150.000
ticket rate was raised to 6 for 40 cents. V. 113, p. 729, Stock 2150.000 ($25)
Aug. 20 1921, the
175.000
1359, 1573. For resume of fare situation up to time of new franchise, see Pf *176.0006% n-cum ($25).... 1910 6 J-J
284 000 July 1 logo
this Section for Oct. 30 1920. Further details of new franchise and Com- First and refunding mortgage Union Trust Co.. Albany.
tf
$750.000
In V. 111, p. 2042; V. 112, p. 652.
munity Traction Co. will be found
250.000 May 1 1944
5 g M-N
Newb Else let M ($250.000)- 1894
654, 1399.
tf Int. at Columbia Tr. Co.. True.. N.Y. City.
gold ($500) not red On Oct. 10 1921 stockholders voted in favor of increasing the capital
June 1 1945
5 g J-D
the $10,000,000 new stock Walden & Orange Lake first 1895 Hamilton Trust100.000
from $15,000,000 (all common) to $25,000,000,
Co., Brooklyn.
tf Int. at
.
mtge gold guar p & 1
to be all preferred. V. 1 ,3, p. 1683.
75,000 July 1 Mu
1894 5 g J-J
brought out $13,500,000 1st Mtge.7% bonds, Newb & Orange Lake 1st M Int. at Columbia Tr. Co.. True., N.Y. City.
In Sept. 1921 the company
g ($500) p & I guar_cstf
together with $2.500,000 prior pref. and $1,500,000 preference stock, proretire
ceed E being used to retire $10,40C.,000 first lien 7s of the Toledo Trac., Lt. &
-$425.000 let & ref. bonds are reserved to92, p. prior liens and
Bonds.
company's 3-year deb. 7s due
1566. Int. on
V.
Pow. Co., due Dec. 1 1921. certain of that
remainder for improvements, &c. V. 90. p. 1425; Bank, Newburgh, N. Y.
Dec. 11922, and for funding floating debt. V. 113. p. 1368.
at Quassaick Nat.
all above bonds is also payable
--•
-In Feb. 1922 holders of Toledo Rys. & Lt. Co. stock
Exchange Offer.
-For year end. Dec. 31 1921, gross, $251,762; net, after
EARNINGS.
were offered in exchange for each share ($100 par) one share of Cities Service taxes, $42,689. In 1920, gross, $257,258; net, after taxes, $24,567.
Co.6% cum. pref. B stock (par $10). V. 114, p. 523.
ROAD.-Owne 20.606 miles of track; 45 passenger and 10 other cars.
Interest. Outstanding. Maturity.
Date.
STOCK AND BONDS-P., A.L.J. Miller; Treas.. H. B.
OFFICERS.-Pres..B.B.Odell; V.
$13,875.000
Common 815,000,000
Berry.
-V. 90,
Odell; Sec., B. Bryant Odell; Gen. Mgr., Frederick S.V. 112. p. 1618.13.
Preference 31,000.000 7% cum
1425; V. 92, p. 1566; V. 100, p. 1511; V. 111, p. 2141;
1,500,000
7%
Series A ($100)
Prior Pref $6.000.000 8% cum
2,475,000
-J
8%.Q
Series A ($100)
7 g M-9 1 13.500.000 Sept 1 1941
and)
1st M (see text) gold $500 and 1921
768,000 Mar. 1 1947
NEWPORT,'R. I.
5 g M-S
mtge. "series due 1947"__ 1921
$1.000 c* and $1.000 r*_ _ tf Bankers Trust Co., N. Y.'trustee.
NEWPORT & PROVIDENCE RY. CO.
1,875.400 Oct 1 1935
5 A-0
Toledo Gas Bloc & Heat Cl 1905
-Incorporated in 1892.
mtge $2.500.000 41.000. Interest at Ohio Savings Bank & Trust no..
ORGANIZATION.
.N.Y.
Toledo, trus.,or Nat.Bk.of Comm.
$500 and $100) not redeem_
Interest. Outstanding. Maturity.
STOOK AND BONDS- Date.
$300.000
-Prior pref. stock, Series "A," red., all or part, on any div. date Common $300.000 ($100)- Stock.
150.000
on 30 days' notice at 115 and divs. Company is required to retire on each Pref $150.000 ($100) non-cum
of Series A
300.000 July 1 1932
5 g J-J
div. date, since April 11922, at least 1% of the largest amount
mtge $300,000($500) --I 1912 Augusta (Me.) Trust Co.. trustee.
is
to call at par_c cptlInt. at
Prior Pref, stock at any one time outstanding, if stock thetendered up to
subject
7% preference
of
$105 a share. $21,000 has been retired. $1,393,400 is
-For years ending Dec. 31:
owned by Toledo
EARNINGS.
stock, Series "A,' and $13,135,400 common stock
Taxes. Int./tDepr, Sur.orDef,
Net.
Gross.
, Year ending- __$127,054
Light & Power Co.
Trac.,
$29,160
$3.599
$29.963
def.$2,795
1921_ _
Dec. 31
29,160
4,168
def.10.346
22,982
Bonds.-lst Mtge. bonds may be issued in different series, haying sueo in- Dec. 31 1920-- 126,249
terest rates, &c. as directors shall determine. Add'I bonds may be issued
-Operates about 15 X miles of track from Newport to Bristol
ROAD.
'
for 75% of cost of permanent additions, &c., under certain restrictions.
-lb. T
a Ferry. where connection is made by ferry to Providence; 70 and 90
Bonds may also be issued to refund an equal amount of any other series as
p. a.
whole or to refund divisional bonds. A sinking fund of 1% 1922, of the and girder rail. 19 cars.
to be
-a., began Sept. 1
bonds, payable s.
outstanding 1st mtge.
OFFICERS.-Pres.. Edward A. Brown, Newport; Sec., Clark Burdick:
If
below
used to retire 1st Mtge. bonds if purchasable at oracquire 103 and hit.
property which Treas.. Geo. E. Macomber. Augusta, Me. Supt. Geo. M.Towle. Newport.
not so purchasable, such funds must bo used to of bonds. The inden- -V.95. p. 1403.
basis for the issuance
might otherwise be made the




AY.

98

ELECTRIC RAILWAYS
NEWTOWN, PA.

PENNSYLVANIA -NEW JERSEY RAILWAY CO.
Controlled by the Bucks County Syndicate.
ORGANIZATION.—This was formerly the Bucks County Interurban
Ry., but corporate title changed under date of May 15 1917 to Pennsylvania-New Jersey Ry. Co. The Bucks County Interurban was incorporated May 13 1913 In Penna. as a consolidation of the Bucks County Electric
Ry., Trenton New Hope & Lambertville St. Ry., Yardley Morrisville &
Trenton St. Ry. and Newtown & Yardley St. Ry. V. 96, P. 1555.
Acquisitions.—On May 15 1917 acquired $500.000 of the $1,000.000
of the N. J. & Pennsylv. Trac. Co. (which see under "Trenton, N. J.").
the remaining $500,000 being canceled, and the stock of the Trenton City
Bridge Co., and the Pennsylvania New Jersey Pow. & Lt. Co. (now
Bucks County Electric Co.). all controlled by the Bucks County Syndicate
Fares.—Effective Mar. 25 1918 was auth. by the P. S. Comm. of Pennsylvania to increase fares from 5 to 6 cents, and on Sept. 26 1918 a further
increase to 8 cents was authorized, on account of a wage award by the
National War Labor Board. On Sept. 17 1921 a 10-cent cash fare, with
11 tickets for $1. was put into effect. In May 1922 ticket fares were
reduced to six for 50 cents.
STOCK AND BONDS—
Date.
Interest. Outstanding. Maturity
Common $500.000 ($50)$497,400
Prof6% cum $500,000 ($50)-6%
500.000
1st M.& Coll Trust g $3,000,-1 1917
5 g F-A
1,250.000 Feb 1 1942
000($500&$1.000)red102% lint. at Northern Trust Co.. Phila., fisc. agts
Notes (extended)
5%
250,000 May 15 '23.
EARNINGS.
--For 12 mos. ending Dec. 31 1921: Gross. $211.883. net;
after taxes, $9,284. In 1920, gross, $283,662; net after taxes, def. $786.
ROAD.—Operates 49.49 miles extending from terminal in Trenton
through Morrisville and Yardley, Pa.. to New Hope,Pa., and Lambertville
N. J.. from Yardley to Newtown; also from Bristol to Doylestown via
Newtown. Leases .2 miles in Doylestown and has trackage
Trenton City bridge and tracks of New Jersey & Penna. Tractionrights over
in Trenton
to Terminal at Warren and Hanover. Gauge. 5 ft. 2 j inches.
OFFICERS.—Pres., Sydney L. Wright; V.
-P & Gen Mgr Gavtora
Thompson'Sec. & Treas.. John M. Morrissey. Phila. office, 133 8. 5th Si.
—V. 112, p. 1978: V. 113, p. 293

NIAGARA FALLS, N. Y.

NIAGARA GORGE RV.
ORGANIZATION—Incorporated in New York June 3 1899
successor
to the Niagara Falls Sr Lewiston. sold at receiver's sale \lay 23 as
1899. Extends from Onondaga St., Lewiston, along the bank of the Niagara Rivet
to the City of Niagara Falls.' Was formally opened July 11899. Also con
trots the franchises of the Buttery Whirlpool Rapids Co., the Niagara
Rapids View Co. and the Niagara Whirlpool Rapids Elevator Co. Has
agreement with the Niagara Falls Park & River Ry. Co. allowing cars of the
Gorge road to run over that company's linos across the arch and Suspension
bridges to Table Rock and Dufferin's Island. Leases the Lewiston St
Youngstown Frontier RR. and owns all of its atocks and bonds.
STOCK AND BONDS—
Date Interest. Outstanding. maturity.
Stock, $1,000.000 ($100)
$1,000.000
First mortgage $1.000,0001 1907
5 g J-D
949,000 June 11027
($1,000) gold
c&r(Int. at Commonwealth Tr. Co., Buffalo, Tr.
Bonds.
-351,000 bonds are in treasury.
ROAD.—Owns 15.8 miles of track from Niagara Falls to Lewiston and
leases Lewiston & Youngstown Frontier fly., 7.5 miles; total operated,
23.3 miles. Also has trackage rights over 1 mile of double track of International Ry.in Niagara. 53 passenger cars, 17 service cars and 1 snowplow.
EARNINGS.—Vor fiscal years ending Dec. 31:
Cal. Year—
Gross.
Net.aft.Tax. Oth.Inc. Int.,Rent,&c. Balance.
1920
$221.742
$81.216
$283
snr.S21.971
$56,575
1919
196.730
53.993
909
57.758
def. 2.859
Latest Earnings.—For calendar year 1921, gross, $165,115; not, before
taxes. $9,605.
OFFICERS—Pros.. Mrs. Joseph T. Jones; V.
-P. & Gen. Mgr., Bert L.
Jones; Sec. & Treas., John I). Regan, all of Buffalo; And.. E. J. Bowen,
Niagara Palls. General offices, Niagara Falls, N. Y.—V. 84, p. 868.
(1) Lewiston & Youngstown Frontier R.Y.
ORGANIZATION.—Chartered Aug. 1895. Owns from Lewiston to
Youngstown and Ft. Niagara,7.5 m.;sidings and switches,2 m.; total, 7.7m.
Is leased by the Niagara Gorge RR., which also owns all of its stock
and bonds.
STOCK AND BONDS—
Date.
Interest. Outstanding. Maturity.
Stock,$150,000 ($100)
$134,000
Fist
mortgage
$150,0001 1896
6 g J-D
150,000 June 1, 1916
($1,000) gold
c*'Int. at Buffalo, L. T.& S. D.Co., Buff., Tr.

NORTHAMPTON, MASS.
NORTHAMPTON STREET RA ILWA Y.—A trolley road.
ORGANIZATION.—Chartered Feb. 26 1873. On Jan. 7 1911
RR. Comm. auth. company to issue $300,000 additional stock, of Mass.
$200.000 was used to pay off $200.000 bonds that matured June 1 which
1910.
V. 92. p. 322. On June 24 1913 the Mass. RR. Comm. auth. $150,000
additional stock. V. 96, p. 554.
Fares.—In May 1910 Mass. RR. Comm., having decided in Feb. 1909.
that the increase in the unit offare from 5 cents to 6 cents was unreasonable
and excessive (V.87, p. 1605; V. 88, p. 625). approved an increase in cash
fares between Northampton and Easthampton to 10 cents and the discontinuance of sale of ticket books between Northampton and Williamsburg .
In July 1918 VMS auth. by the Mass. P. S. Comm. to establish additional
zone systems, in lieu of the proposed increase from 5 to 6 cents in the fare
unit. V. 107, p. 83. Effective Jan. 30 1919, was auth. by the Mass. P. S.
Comm. to increase fares from 5 to 7 cents. V. 108, p. 172.
STOCK, &c.—
Interest. Outstanding. firs.,&c.
Stock $850,000 (par $100)
A-0
$850,000
See text
Notes payable Dec. 31 1921__
30,000
Dividends.
-1901. 8%; in 1902, 8%; in 1903, 8%; in 1901. 6%; in 19C 5,
6%; on Dec 27 1905, 3
in 1906, 33-6%; in 1907, 7%; in 1908, 6%; in
1909, Jan., 2%;in 1910. Oct., 2%; in 1911 and 1912, 5%. In 1913,
534%. In 1914 to and incl. Oct. 1917 at the rate of 5% per annum. Non e
to 1929, when 3% was paid. In 1921, July, 3%; Dec., 3%. In 1922,
July. 3%.
ROAD.—Owns 27.490 miles of track, including extension to Holyoke
and extension from Mt. Tom Junction to Easthampton. Operates 50
passenger cars, 3 snow plows and 126 electric motors.
EARNINGS.—For year ending Dec. 31:
Year—
Grim.
Net. Int..Taxes.&c. Balance
1921
$331,028
$67,159
$15,854
sur.$51,305
1920
344,038
37,529
11,746
sur.25,783
OFFICERS.—Pres., H. M. Tyler; Treas.,
; Gen. Mgr.,
L. D. Pellissier, all of Northampton.—V. 92, p. 322: V. 96, p. 554, 1840;
V. 99, p. 675; V. 107,P. 83,604; V. 108, p. 172.

NORWALK, OHIO.
SANDUSKY. NORWALK Sc MANSFIELD ELEC. RY.—A trolley road
Receivership.—On Nov. 15 1912 C. G. Taylor was appointed receiver for
the company and the controlled Plymouth & Shelby Traction Co., to succeed C. Bt. Brooks (Treas. of the company), Goo. B. Dustnberre and Wilbur
Hoyt, who had been appointed receivers on Jan. 4 1912. On July 1 1913
the Plymouth & Shelby 'Fr. Co. was released from the receivership, but on
Nov. 15 1917 was again placed in the hands of C. G. Taylor as receiver
because of question as to ownership. It has outstanding $200,000 stoci;
and $200,000 bonds.
Operations Suspended—On March 25 1921 the company suspended operations owing to its inability to meet current expenzes. V. 112, p. 1614.
Sale.—On Oct. 29 1921 S. S. Burtsfield, Toledo, 0., bid in the PlymouthShelby division for $20,000 at a sale held on that date by order of the
Federal court. V. 113, p. 1983. On Nov. 12 1921 the Norwalk-Plymouth
division was purchased by Henry Weir, Sandusky, and I. Wilkoff, Youngstown, 0., for 860,450. V. 114, p. 1409. It was reported that the purchasers of the Norwalk-Plymouth division would dismantle the line and sell
it for junk. V. 113, P. 2313. The receiver, writing the "Chronicle"
April 4 1922, stated that' neither property has been operated since tho sale,
and just what disposition is to be made of those properties I am not advised.
The receiver's creditors will be paid in full, and the banclhollers may receive
a ysry small dividend on their hollings, but not enough to ha of any %Wile.




[Vor.. 115.

Illclatms will ba paid on or before liar. 30 1922 and the reee'ver discharged."
V. 114, p. 1767. No further information. In .March 1922 the NorwalkShelby line was sold for scrap but in Sept. 1922 was resold to J. L.Baugh,
who has organized the Norwalk & Shelby Ry. The now company
has
issued $100,000 8% First Mtge. bonds (auth. $150,000) and
capital stock (auth. $125,000), the stock being given as a bonus $100,000
with the
bonds. V. 115, p. 1839. It was reported in Sept. 1922 that this line would
be operated with gasoline cars. V. 115, p. 1321. The officers of the
company are: Pres. & Gen. Mgr., J. L. Baugh; V.-P., C. E. Heath; new
Sec.,
A. D. Sanders; Treas., C. R. Irwin.
ORGANIZATION.—Private right of way except in cities, where franchises run 25 years from 1904.
Fare Increase.—In July 1918 was auth. to increase the mileage charge
effective Aug. 11918. V. 107, p. 402.
STOCK AND BONDS—
Date. Interest
Outstanding.
maturity.
Common $360,000
$360,000
Pref $240,000 non-cum 240,000 ____ _ _
First mortgage, $600,0001 1904
5 J-D
600.000 June 1 1924
gold
fInt.at Security Say.B1c.& Tr.Co.,Tolodo,Trus.
Bonds —Redeemable on any int, day on 90 days' notice at 110 and int.
Sinking fund $5.000 per annum June 1 1909 to 1913 inclusive; 1914 to
1918.
inclusive, $10,000; 1919 to 1923, inclusive, $20,000.
EARNINGS.—For year ending Dec. 31 1919, gross, $57,296; net,
$2,017: taxes and rentals, $3,937; balance, deficit $1,920; in 1918, gross.
150.888; net, $5,833; taxes, int. on receivers' certifs., &c., $1,044: balance,
$1,789.
ROAD.—Operates 30 miles of track from Norwalk through towns of
North Fairfield, Steuben, New Haven and Plymouth, to Shelby, where
connection is made with the suburban linos of Mansfield; also a 234-mile
extension to Willard, Ohio. Standard gauge, 70-1b. T rail.
OFFICERS—Receiver, C. G. Taylor.—V. 113.
V. 114, p. 1181. 1409, 1767; V. 115, p. 1321, 1839. p. 1983, 2080, 2313;

NORWICH, CONN.

THE SHORE LINE ELECTRIC R Y. CO. (Connecticut).
Receivership.—On Oct. 1 1919 Pres. R. W. Perkins was appointed receiver for the co. by Judge J. H. Reed of the Superior Court, on application
of the estate of the late Morton F. Plant. V. 109, p. 1367.
Foreclosure Proceedings.—In Jan. 1920 It was reported that the Old Colony Trust Co., Boston, had made application to foreclose the $2,725,000
1st M.bonds of the co. V. 110, p. 168. R. W.Perkins has been appointed
receiver in this action also.
ORGANIZATION.—A merger, effective Nov. 11916, of the Shore Line
Electric By., Norwich & Westerly Traction Co., Groton & Stonington
Street Ry., Ashaway & Westerly fly. and the Now London & East Lyme
Street Ry. (See this Section for Sept. 1916 for separate statements of those
companies.) V. 103. p. 494. 1033. Had a lease for 99 years from 1913
on that portion of the Connecticut Co. known as the New London Division,
104 miles, but this lease was annulled by order of the court in Jan. 1920;
the co. continued to operate these lines until April 18 1920 at which time the
Connecticut Co. took over same for operation. See V. 110, p. 1749.
An Act of the Conn. Legislature, approved May 16 1917, authorized the
company to increase its capital stock to not exceeding 38,000,000 and to
exchange such stock par for par for its notes or its A and B debentures.
subject to the approval of the P. U. Comm. No stock shall be issued at
less than par. The company was also authorized to generate and sell electricity to any electric light, heat or power company except in the towns of
Windham and Coventry, Conn., and any town where a company is already
In operation except with the consent of that company;also to acquire stocks,
bonds, &e.
any Connecticut electrical company. V. 104. p. 2344.
sinan tie ite
3 i e2 .nt of Certain Lines.—See "Electric Railway" Section for
0,
April
In Nov. 1920 the receiver was auth. to soil that part of the road formerly
known as the Norwich & Westerly 'Fraction Co. at the upset price price
of $191,000. Operation is to continue at the receiver's discretion. In
March 1921 this line was in partial operation. V. 111, p. 1852. Compare
V. 111, p. 1754.
Fare Increase.—In Aug. 1918 was auth. by the I.
-S. C. Comm. to increase fares between points in Connecticut and Rhode Island. V. 107, p. 803
Appraisal.—For details of appraisal filed with the Superior Court in
July 1920, fixing valuation (mostly on scrap basis), at $1,907,766. See
V. 111, p. 295. See also receiver's report in V. 112, p. 1867.
Reported Reorganization Plan—For details see V. 111, p. 2325.
Successor Company Incorporated, &c.—In March 1921 it was reported that
the committee on railroads of the Connecticut Legislature had reported
favorably on a bill incorporating the Eastern Connecticut Ry, to purchase
all the present line of railway now owned by the Shore Line through Norwich, Preston, Ledyard, North Stonington and Stonington to the Connecticut
-Rhode Island line at the Pawtucket River and connecting with the tracks
of the N. Y. N. II. & Hartford flit, at Brewster's Neck. The capital of the
company is $50,000, with the right to increase to $500,000. Incorporators
are: Robert W. Perkins, Norwich; Edward M. Day. Hartford, and Charles
B. Whittiesey, New London. V. 112, p. 1284, but see V. 112, p. 1867.
Compare V. 112, p. 1025. Under date of Sept. 29 1921 we were advised
by Mr. Perkins that no plan of reorganization had yet been announced.
V. 112. p. 1867. No further information.
In Dec. 1921 a new co. (The Shore Line Traction Co.) was incorporated
for the purpose of operating that portion of the line which runs from New
Haven through Saybrook and Chester, Conn. For particulars as to financing new co., &c., see V. 113. p. 2186, 2615, 2722.
Receiver's Statement.—On April 25 1921 R. W. Perkins wrote the "Chronicle" as follows: "We are operating everything east of the Thames River
and a portion of the New London and East Lynne [linesl, a total of about
65 miles. Gross earnings for the fifteen months to Dec. 31 1920 were
$697,655, and after taxes we show an operating deficit for this same period
of $52.227. This includes operation of leased property from Oct. 1 1919
to April 11920." V. 112, P. 1867. Soo also V. 113, p. 2313.
ST or s
m C AND s °
Interest. Outstanding. maturity •
(r
Date.
S—
28370000:000000
Cot
l'referred ItextI ($100)------First mortgage bonds
,725,
000
Groton & Stonington 1st M.j 1904
5 g J-J
475,
000 July 1 1924
gold (assumed) ($1,000) __clInterest at International Trust Co., Boston
Debenture "A" bonds
1,000.000
Debenture"B" bonds
2.500,000
Bonds.—Groton & Stonington bonds have no sink. fd., but are subj. to
call at any time at 120 and int. Trustee is Treasurer of State of Conn ,
EARNINGS.—For year ending Dec. 31 1921, gross, $293,893; net, def.,
after taxes, 34.485. In 1920, gross, $697,656: net, def., after taxes, 366,833
ROAD.—Receiver in Oct. 1920 was operating about 72 miles of track •
all owned by receivership estate. Gauge 4 ft. 83.4 inches. Entrance to
New Haven over tracks of Connecticut Co. Private right-of-way except
through towns.
OFFICERS.—Pres.. R. W. Perkins: V.
-P., F. de0. Sullivan; Sec. St
Treas., A. E. Sherman.—V. 111. p. 2325; V. 112. p. 63. 746, 1025, 1234.
1867; V. 113, p. 1157. 2186. 2313, 2615, 2722.

OAKLAND, CAL.
SAN FRANCISCO-OAKLAND TERMINAL RY .
ORGANIZATION.—Incorp. in California on March 21 1912. ifas
consolidated the following (V. 91. p. 912):
Oakland Traction Co.
East Shore & Suburban Ry. Co.
San Fran. Oak. & S. J. Cons. Ry. I
California Railway.
The San Fran.
-Oak. Term. Rye. assumed the total bonded debt of the
merged companies.
Operates the street railway lines of and connects Oakland, Berkley,
Alameda, Richmond, Emeryville, Piedmont, Albany, San Lorenzo, San
Leandro and Hayward. Also connects Oakland, Berkley, Emeryville, Piedmont and Albany with San Fran. by electric train and ferry service.
Interest Payments —All coupons maturing prior to Nov. 18 1919 have
been paid
Coupons maturing Nov. 18 1919 and subsequent thereto will
be funded under reorganization plan, which see below.
City Partnership Plan.—The electors of Oakland on Nov. 7 1916 voted in
favor of the charter amendment authorizing the city to go into partnership
with the co., In accordance with the plan of the Oakland Chamber of Cammerce drawn up with a view to settling the co's financlal and operatin; difficulties. The plan provides:(a) The co. to be granted a resettlement fran-

OCT., 1922.]

ELECTRIC RAILWAYS

99

H.
Oakland Traction Consolidated.-Louls Monteagle, Chairman; George
condition that the city may buy out
chise of an indeterminate period on transfer such purchase right to a third Lent and Nathaniel Blaisdell.
-Samuel Knight, Chairman; H. E. Bothin, L. A.
the system on 6 MOS: notice and may
Traction.
Oakland
the city and the co., the city
party; (b) net profits to be divided between allowed 6% on its valuation Redman and Wm. J. Beddig.
be
-S. W. Coleman, Chairman; De Witt
to et not less than 55%, the company to
San Francisco Oakland & San Jose.
taxes, insurance and
a proper amount for maintenance, operation,
and
of C. Treat and Thomas A. Gardiner.
-Grayson Dutton,
be conducted by a joint board consisting in
San Francisco Oakland & San Jose Ry. 2d Mtge.
depreciation; (c) operations to
, an arbiter to be called in
Abrahams.
two, one for the city and one for the company
Mayor appoint Chairman; A. Dalton Harrison and Louis
-Warren Olney. Jr.,
ent. The plan also provides that the
& San Jose Consolidated.
San Francisco Oakland
case of disagreem
the City Council in drafting
e
J. S. Allard, L. P. Behrens and Charles W.Fay. V. 113. p. 732.
an advisory board of seven to co-operatp.with
759. Applications for re-settle- Chairman;1922 was auth. by the Calif. RR.Comm. to issue $600,000 10-yr.
In June
the franchise ordinance. See V. 103,
made to the common councils of Oakland,sBerkeley 7% serial equip, trust notes at not less than 99 and int. V. 115, p. 74.
ment franchises were
preparation of such franchise and the
Div. Period. Outstanding.
and Alameda which resulted in the the cities of Oakland and Berkeley, reSTOCKpetition to the Cal. RR. Comm. by
$15.125,000
properties for the purpose of facilitating the ,
:lommon ($100)
questing a valuation of these
12.050.000
Q.
-M. 21
people.
of the
Class A pref. ($100) 6% cum
submission of these franchises to a vote
1.000.000
Trust Co.of San Fran., as mort- Class B pref. ($100)
-The Anglo-California
Foreclosure Suits.
Interest. Outstanding. Maturity.
Dennis
Date.
BONDS-against the United Properties Co.,
gage trustee, has brought suit Oakland Rys. for recovery on the $2,500,000
-Oak. Term. Rys.San Fran.
the
See text
590.000
6 M-N
Searles and stockholders of
1916
below) in order to protect the Equip notes ($1.000)
note issue of the Oakland Rys. (see table reorganization of the San FranOakland Traction Co.3,177,000 Jan 18 1935
in the event that the proposed through. V. 101, p. 615. The Oakland Trac Co gen con) 1907
noteholders
5 g J-J18
cisco-Oakland Terminal Rye. is not carried to preserve or enforce the rights
Union Tr. Co.. San Fran.. Trustee.
mtge. g. $12,000.000, sinkTrust (30. has also begun legal proceedings Term. notes. V. 105, p.820.
co
Ins fund ($1.000)
the $1,100,000 6% Oakland
2,134.000 Jan 2 1933
5 g J-J
of the holders of
to in- General consolidated mtge. 1905 Tr. Co..San Pr.. Trustee.
Union
-In June 1918 was auth. by the Cal. RR. Comm. 105,
Fare Increase.
Oakland Trac Consol, $7,by 10%. V. 106, p. 2753; compare V.
000,000. gold ($1,000)___c
crease ferry and electric fares
1,202,000 July 1 1932
by the Cal. RR. Comm. to increase
5 g J-J
p. 1618. On Aug. 14 1918 was auth.6 cents. V. 107. p. 907. Effective let mtge (see text) Oakland 1902 Trust Co.. San Francisco, Trustee.
Transit cons g,s f($1,000)1Union
local street railway fares from 5 to
to
1.695.000 July .1 1931
raise fares on the Key Route from 1154. let con s f M Oak Tran,$3,- 1901
5 g J-J
Sept. 1 1919 the co. was auth. to
ion rate from 33 30 to
9
8 8 6 Tr j
11ercantileg juest Co.. San Fran.. Trustee.
000.000 ($1,000). g
15 cents for one way fares and the commutat fares were raised to 8 cents
1,121,000 July 7 1918
Sept. 1 1920 one-way
1st mtge Oakland Transit Co,
V. 109. p. 982. Effective
, Trustee.
$1,400,000, gold, s. f.. not Union Trust Co.. San Francisco
and the commutation rate to $4 80 per month.
c*
-This committee represents the into call
.
subject
Reorganization, &c., Committee Chairman, John S. Drum; J. F. Cars236,000 Mar. 1 1922
M-S
Oak San Lean & 11 1st M 1892 6 g
terests of the different bondholders:
George Tourny, Gavin McNab,
g,$250,000 ($1.000)
ton, W. W. Garthwaite, P. E. Bowles,
229.000 Mar. 15 '23
1893 6 g 31-515
Fleischhacker and Paul A.
B. H. Diblee, A. Crawford Greene, Herbert Tr. Co.. Savings Union 23d Ave El Ry 1st mortgage
gold (51.000). $250,00€L..
r, Secy. Depositaries: Mercantile ifornia Trust Co. of San
Sinsheime
12,000 Jan. 1 1923
6 g J-J
Alameda Oak & Pied El Ry 1893
Co. and the Anglo-Cal
San Fran.
Branch Mercantile Trust
Bank of Oakland and the
first mtge. gold, $350,000. Int. at Wells-Fargo Nev. N. B.,
Francisco; Oakland Bank, Central National 109, p. 1180, 1274; V. 113,
V.
San Fran Oak st Sari Jose Cons RyFirst National Bank of Oakland. Calif. V. 110. p. 79. For statement by
5 g M-N19 1,587,000 May 19 1938
consolidated mort- 1908
for.
p. 535. Deposits have been called Up to July 7 1922, 95% of the bank General $7,500,000 41.0003, Union Trust Co., San Francisco. Trustee.
,
gage.
committee see V. 110. p. 1416.
Interest at office of co., Oakland. or Wells
securities had been depbsico
gold
holdings, and 82% of the private holdings of all
Fargo-Nevada Nat. Bank, San Fran.
ted. V. 115, p. 544.
3,000,000 Jan 2 1933
5 g J-J
1903
July 20 1921, was
-A plan of reorganization, datedsee V. 113, p. 535. ism Fran 0 & S J Ry let Int. at Wells-Fargo-Nevada Nat. Bank in
Reorganization Plan.
details
San Francisco and their correspondent in
proposed by the committee named above. For
0 ($1,mortgage, $3,000,00
g several modifications of the
N. Y. Union Trust Co., San Francisco,
co
An amended plan (V. 115, D. 544), embracin ation committee on July 7
400), s f. gold
reorganiz
Trustee.
original plan, was adopted by the August 20 1922. V. 115. p. 1839.
1.500.000 Jan 2 1933
5 g J-J
1906
and was declared operative present company be reorganized and
1922
at Wells-Fargo-Nevada Nat. Bank.
mtge
The amended plan provides that the
n Division" in one corporation aan Fran 0 & S J Ry 2d s f_c*,Int.
San Francisco, or at company's office.
include the "Key Division" and "Tractio
0 g ($1.000)
the outS1.500.00
corporations to take care of
Union Trust 0o., San Francisco. Trustee.
(except for one or more subsidiary and note issues of present subsidistanding bonds in Group 1-A (below)
East Shore & Suburban Ry.Co.and non-operating properties
620,000 July 1 1940
1
'
5 g Q-1
which shall be the owner of all operating plan eliminates in its entirety Let mtge $750,000 gold s fl 1905
aries)
Tho
now held by the consolidated company.
($1,000) sub to call 110&int'Int. at Mere. Tr. Co.. San Fran., Trustee.
present company and places the stock
Notes of Subsidiary Cos.
the $15,125,000 common stock of the the holders of the prior preferred and
See text
2.500,000
6%
control of the operating company in ates paying in cash all coupons on Oak! Rys coil tr notes $2,500.- 1912
Fran..
100 ($25,000) red at 100. Int. at Anglo-California Tr. Co., San Y.
preferred stock. The plan contempl Nov. 19 1919, and funding all couTrustee,or National City Bank.N.
and int
outstanding bonds maturing prior to
securities.
on of new
See text
1.100,000
date up to the time of distributi 1-A (below), all of Oaki Term Co coil note,' $1,- 1912 6 Q-F
pons due from that
San Fran
bonds in Group
with the exception of coupons on estimated that the amount of coupons
100.000 g ($1.000, $2,000,, Int. at Angio-Califorma Tr. Co.,
It is
Callable at 101 and interest.
which are to be paid in cash. interest on the various bond issues. Should
$5.000 & 310.000) ;CU p & L
3 years
to be so funded will be
San Francisco-Oakland Terminal Rys.-The equip. notes of 1916 are secoupons to be funded at the time of
there be more than 3 years' interest amount of new bonds and preferred cured by 32 steel cars costing $234,000. They mature $10.000 s.-a. from
the
the consummation of the plan, increased by the amount of such excess. Slay 1 1917 to Nov. 11925. incl. Callable at 100;i and int. on 60 days'
ed will be
stock to be distribut
notice.
securities would be effected:
Under the plan the following exchange of
-Of the $12,000.000 bonds of 1907. $6.980,000 are reOakland Trac. Co.
& Stock Issues for New Securities, served for prior liens and $1,843.000 are deposited under the Oakland
Exchange of Old Bond Issues, Note
provides for the re.
Ry. coll. notes. A sinking fund began in 1907 which $7,000.000 Oakland
without Regard to Overdue and Unpaid Coupons
New.St cur. tirement of about $7,000,000 bonds by 1932. Of the to retire prior liens,
Outstanding
, $4.826.000 are reserved
to Be Issued Trite. consolidated mortgage
Old
in Excli'ge. $20,000 have been canceled and $20,000 exchanged for Oak Trac. Co. issue.
0
Securities.
1938, of
A sinking fund began in 1906 which provides for the retirement of $6,000.00
consol.
Group I-A-To Be Exch.for New 1st M.6s,
bonds by July 11928. See V. 81, p. 668. The auth. amount of lot
New Subsidiary Companies, Respectively
$236,000 mtge. of 1902 of Oakland Transit Consol. was originally $6,500,000, but
s El. By. 1st 6s, 1922_ _
previously re$236,000 Oak. San Lean. & Hayward M.6s, 1923
229.000 shareholders voted on June 17 1904 to cancel $1.654,000 Of the remain229,000 23rd Avenue Electric Ry. 1st
served for extensions and improvements. V. 78, p. 2385.
-B
have
Group I -To Be Exch. for Gen. & Ref. Mtge. 6%
ins bonds auth. $3,495,000 are reserved for prior liens and $149,000 ed in
Company
and 5% Bonds of New Operating
1,121.000 been canceled by sink. fd. A sinking fund for these bonds commenc the
1st Consol. 6s,
$1,121,000 Oakland Transit Co.Consol. 5s, 19311918
1,595,000 1903 and ranges from $10,000 to 5250,00(1 per year, which provides for but
1st
1,595,000 Oakland Transit
1,202,000 retirement at maturity of $4,000.000 bonds. Bonds not subject to call,
5s, 1932
1,202,000 Oakland Transit Consol. 1st Consol.M. 5s, 1933_ _ 3,000,000 may be purchased for sinking t und in open market. See V. 75, p 135. Of
1st
to
3,000,000 San Fran. Oakl. & San Jose By.
620,000 the $3.000.000 first consols Oakland Transit. $1.400,000 are reserved
By. 1st M.5s, 1940
Oons.
620,000 East Shore & Suburban for Stock of Operating Co.
retire underlying liens. $5,000 have been exchanged for Oak. Transit the
Group IL-To Be Exch.
in 1912, which provides for
A sinking fund commenced on these bonds
Gen. Consol. 5s, 1933x92,134,000 Oakland Traction Consol.Prof. stock
1,600,500 retirement of $2,000,000 of the bonds on or before maturity. 23d Ave Elec.
75% in 7% Cum. Prior
Both the Oakland San Leandro & Hay. Elec.. Ely. and the
533,500
and
25% in 7% Preferred stock
Ity. mortgages have sinking fund commencing ten years after date five
M.5s, 1933first
x1,500,000 San Fran. Oakland & San Jose By.2d
1,125,000 increasing from 2% yearly (of total bonds outstanding) for the maturity.
75% in Cum. Prior Pref. stock
bonds are not subj. to call before
375.000 years to 8% for last 5 yeaes. The
where
25% in Preferred stock
Interest on Oakland Traction Co. and underlying bonds, except
. ,
.-To Be Exch.for Stock of Neu Oper. Co.
Bank. San
Group III
indicated, is payable at Wells Fargo Nev. National
Oakland Trac. Co. Gen, Consol. 5% bonds. 1935- 1,588,500 otherwise , or its correspondent in New York.
y$3,177,000
Francisco
consol.
50 % in 7% Cum. Prior Prof. stock
San Francisco Oakland st San Jose Consolidated ay.-54.500.000 are de1,588,500
0
50% in 7% Preferred stock
mortgage bonds are reserved to retire prior liens and $1.413.00 on thew
Oak. & San Jose Cons. By. Gen. Con,5s
A sinking fund
y1,587,000 San Fran.
793,500 posited under the Oakland Ry. coll. notes.
0. A sinking fund on the
50% in 7% Cum. Prior Prof. stock
793,500 bouds began 1915, installments totaling $4,345.00
as follows: In 1915
50% in 7% Preferred stock
San Fran. Oakland & San Jose Railway lot So is provicied in 1919 and 1920
To Be Exchanged for 6% Notes of 1933.
and 1918. $35,000;
Oakland Rigs. 6% Notes
1913._ 2,500,000 end 1916. $25.000 each year; in 1917 in 1923. $90.000; in 1924 and 1925.
Gold notes.
2,500,000 Oakland Rys. Coll. Trust 6%
1922. $75,000;
$50,000; in 1921 and
of New Operating Co.
$125.000; in 1929. 1930, 1931
Exchange of Pref. Stock for Common StockProf. stock_ _ _
a3,262.500 1100.000; In 1926, 5115.000; in 1927 and 1928. called. See V. 76. p. 855.
-Oakland Term. Rys. A
z12.050.000 San Fran.
tnd 1932, $150,000. These bonds cannot be
__ _
0 San Fran -Oakland Term. Rys. B Prof. stock_ _ _Wiped Out fhe following amounts are payable annually to a striking fund on the San
z1,000,00
bonds: 1915. $10.000.
-Oakland Term. Rys. Common stock_
$15,125,000 San Fran.
Francisco Oakland & San Jose Railway al mtge. $30.000; 1920. $35,00CJ,•
d for pr f. 1916. $15.000; 1917. $20,000; 1918, $25,000; 1919,
to 1925. inclusive. $50.000; 1926 and
and past duo coupons in this group are to be exchange
x Bonds
1921. $40.000; 1922. $15.000; 1923
pref.
stock on basis of 75% cum. prior pref. and 25% of 7% exchanged for pref. 1927. $60.000; 1928 to 1932. inclusive. $75,000. These bonds are not
y Bonds and past duo coupons in this group are to be
subject to call
% yearly on
of each ;lass of pref. stock
stock on basis of 50%
East Shore & Sub. mtge. lea closed mtge. Sinking fund.
old pref. stock for
123.
z This stock is to be exchanged on basis of 4 shares of
all bonds outstanding, expected to retire entire lssue. V. 94. p.
1 share new common.
Dec. 31 1920.
fund
stock-being entire amount outstanding. $122.000 In sinking
coll. notes fell due
a Operating company common
-The Oakland Rys. and Oakland Terminal
Notes.
are out-In addition to the $4,764.000 bonds in Group III which Co. gen. tune 12 1913 and Aug. 20 1913, respectively. Interest at rate of 6% per
Note.
standing in the hands of the public, $1,813,000 Oakland Traction consol. mourn is being paid on the notes.
Oakland 5s San Jose
consol. 5s, 1935, and $1,413,000 San. Fran.
-For years ending Dec. 31:
EARNINGS.
Balance,
By. gen consol. 5s, 1938, or a total of $3,256,000 of this group, are pledged
Interest,
Other
Net (after
Gross
Calendar
as collateral for the $2,500.000 Oakland Railways 6% notes.
&c. (Net). Sur. or Def.
Income.
Taxes).
Earnings.
Year-On completion of the reorStructure of Combined Companies.
p. 1839.
See V. 115,
Financial
sub- 1921
63
ganization, the financial structure of the operating company and its
$935,731 $125,969 51,128,264 def.566,571
36,704,001
1920
1,122.109 def.312,4
103,303
sidiaries (eliminating such securities as may be issued to covta- overdue and 1919
706,335
5,793,501
1,102.626 def.219,701
coupons) will be as follows:
78,539
unpaid interest and
804,386
5.100,030
1918
def.61.896
1,107.631
44.355
1,001,380
4.578.620
-(a) Common,$3,012.500; pref., 7%,$3,290,500; prior$11,410,500 1917
Stock.
railways. Has 465
pref., 7% cum.. $5,107,500
-Operates 264.10 miles (all tracks) of electric 14 freight cars, 69
ROAD.
2,500,000
-Oakland Railways6%
Notes.
pas.s.. cars, 1 combination car, 3 electric locomotives,
-Gen. & ref. mtge. bonds: (a) 6%,$1,121,000; (b) 5%, 7,538,000 service cars, 3 wrecking cars, 1 pile driver and 4 ferryboats.
Bonds.
$6,417.000
-P. & Gen. Mgr., W. R. Al2.500,000
-Pros., C. 0. G. Miller; V.
OFFICERS.
First mortgage
465,000 burger; Sec. & Treas., F. W. Frost; Compt., C. C. Vargas; And., B. W.
2242
Divisional martgage 6%
of the new co. which shall be Fernald.
113, p. 732. 1773. 1888; V. 114, p. 198, 739, 1288, 2014,
-V.
-A. voting trust of the stock
Voting Trust.
1839.
accepted by all stockholders.
operative for 7 yrs., will be created, and shall be on of securities to be issued V. 115, p. 74, 544, 1100,
above plan and descripti
For full details of
SAN FRANCISCO-SACRAMENTO RAILROAD CO.
thereunder, see V. 115, p. 544.
to the
-On July 27 1921 between 250 and 300 security holders
Plan Supported.
ORGANIZATION.-Incorp. in Cal. late in 1919 as successor1920 as
the plan outlined above.
foreclosure on Jan. 26
voted unanimously to support
ing the holders of Oakland Antioch & Eastern RR. ,sold at"Electric Railway' Supplement
The following committees were appointed, represent
per plan of reorganization outlined in the
central reorganization
will also
the various classes of securities, to work with the
of Nov.15 1919,in which issue the history of the predecessor co. Controls
committee in furthering the reorganization.
be found. For changes in reorganization plan see V. 110, p. 78.
-Benno Hart, Chairman; Bruce L Sharp, through stock ownership Oakland & Antioch Ry. (34.12 miles between the
Oakland Transit 1st Cons, 63.
Saranap
Walter Loewy and J. J. Mack. -Frank Stringham, Chairman; Louis 0. points named) and San Ramon Valley RR. (11.7 miles between with the
agreement
Oakland Transit 1st Cons. 5s.
and Diablo, Contra Costa County. Has a traffic latter reaches SacraTopeka & Santa Fe By. under which the
and Albert Baruch.
Green
-Percy Towne, Chairman: Atchison
mento and points beyond.
Oakland Transit Consolidated 1st Cons. 5s.
James Otis and George Whittell.




100

ELECTRIC RAILWAYS

Franchises.
-Practically the entire mileage of the road
right of way. We understand that where franchises areis located on private
tain no burdensome restrictions, and extend from 1946 torequired, they con1964, the shortest,
covering only about 5 miles, expiring In 1941.
$200.000 1st mtge. 6% bonds were issued in Oct.
capital expenditures. V. 115, p. 1633. Compare V.1922 to finance in part
115, p. 1430.
STOCK AND BONDS.- Date.
Interest. Outstanding. Maturity.
Common $6,550,000 ($100)$6,242.055
Prof $1,500.000 cum. $100)_ 7%
1,242.711
See text
1st mtge serial $3,000,0001 1920 6 g J-J 1
955,000 See text
($1,000) gold
c•tf!Union Trust Co., San Francisco, Trustee.
...9gock.-Pref. stock is callable any time at 110.
Bands.
-Are secured by a 1st mtge. on the entire property. Escrow bonds
($2,160,000) can only be issued for 75% of the actual and reasonable cash
expenditures for permanent exts. and add'ns to the property, under certain
conditions. If any of the escrow bonds are issued, the bonds so
issued shall
mature not later than Jan. 1 1940, and not earlier than the last
of the present issue outstanding. The $955,000 now outstandin maturity
g mature
842,000 annually to Jan. 1 1910. Call, all or in part by lot (last maturities
first) at 102 and int. on any int. date. Int. payable in
Francisco. Tax exempt in California. V. 110, p. 466. Chicago or San
Dividends.
-An initial div. of $3.50 was paid on the pref. stock on July
1920. V. 110. p. 2658. In Oct. 1920. $1.75 was paid. Same amount 15
has
been paid reg. quar. since to and incl. April 1922.
EARNINGS.
-Of predecessor company for years ending Dec. 31:
Calendar
Gross
Net (after
Other
Lease Interest ct Balance.
YearEarnings.
Taxes). Income. Rentals.
Miscel. Surp.a,def
1921
$1,169,684 $148,268 $17,251
$56,336 $109,183
1920 .
1,3(19,621
253.915 $25,715
$81,525 $198,135
1919
1.167.889
284.592
5.617
106,104
175.108 sur.8,997
1918
879,766
251,618
2,030
106,323
181,486 def .34.161
ROAD, &c.
-Total, 97.89 miles in operation. Owns 6 substations,
warehouses, shops. storehou.ses, office buildings, freight
stations, &c. Equipment consists of 38 passenger coaches,stations, ticket
of which 20 are
motor equipped, 6 steel locomotives. 74 freight cars,
construction and work cars. POW6i Jr furnished by 3 cabooses, and 14
the Great Western
Power Co under contract.
OFFICERS.-Pres.. Walter Arnstein, sT.P. & Gen. Mgr., H. A. Mitchell; Sec. & Aud.. II. J. Sutherland.
-V. 109, p. 2263; V. 110, p.
466, 2658; V. 112, p. 163; V. 114, p. 2014; V. 115, p. 1430, 1633. 79, 262,

[Vol,. 115.

lien of $150,000. Exempt from all general taxes in Okla. V. 102,
p. 1987.
The secured 8% notes, due Jan. 1 1928 are secured
$680,000 1st
& ref. 5s of the company:(0 $120,000 Guthrie Ry. 1st by (a) 5s;
Mtge.
(c) $500.
000 Guthrie-Edmond Elec. Ry. 1st Mtge. 5s. The notes are cony, at any
time before maturity or call into 1st & ref. bonds at the rate of 80, against
100 for the note. V. 112, p. 373, 563.
Dividends -On pref. 1st div.-5%--paid Jan. 1909 and 14% quar
to and incl. Jan. 1912. None since.
EARNINGS.-For 12 months ending Dec. 31:
Gross
Net (after Other
Interest
Balance. Passengers
YearEarnings
Taxes). Income. Diset. etc. Surv.
Carried.
1921
$2,114.571 $665,940 $6.934 $358 882 $313.992 23.417,650
1920
2,041,483 524,341
6,823 344,384 186,781 25,553.258
ROAD, &c.
-Operates about 139 miles of track comprising the street
railway systems in Guthrie (5.5 m.) and Oklahoma City
and the
Interurban lines to El Reno (placed in operation Dec. 3(64 m.) Norman
(placed in operation Nov. 15 1913) and Edmond (placed in 1911).
operation May
28 1911). The extension to Guthrie was placed in operation July 20 1918.
Standard gauge.65.70 and 100-1b. rails. 110 pass. and 32 freight and other
cars: 2 electric and 1 steam locomotive. Power plant has 12,100 k.
w.
mead's . Also owns valuable terminal station in Oklahoma City.
,
OFFICERS.-Pres., Anton H. Classen; V.
-P. & Gen. Mgr., 3. W. Shay
tel. Sec.& Asst. Oper. Mgr., Chas. Hoopes; Treas., E. J. Richart; Aud.,
W•
C Jones. General offices, Oklahoma City.
-V. 107, p. 1920;
379, 683; V. 110, p. 78; V. 111, p. 693. 1183; V. 112, p. 373. 563. V. 108, P.

OLEAN, N. Y.

OLEAN BRADFORD & SALAMANCA RV.
Organization.
-In accordance with plan (V. 113,
tion of Western N. Y.& Pennsylvania Trac. Co.(forp. 1252) for reorganizahistory
Stipp. of Oct. 22 1921) that co.'s property in N. Y. was soldseo"Elec. Ry."
and in Penna. on Juno 15 1921. Companies were organizedon June 4 1921
in both States
to take over the properties and were merged into the
& Salamanca Ry. which was incorp. in N. Y. on present Olean Bradford
or abaut Oct. 8 1921.
Under the plan unsecured creditors and the stockholders in
N. V. & Penna. Trac. Co. received no share in the new corp. the Western
Capitalization, &c.
-The co. has issued $224,000 1st
auth. $5,000,000), $1,120,001)7% non-corn. pref. stock, & ref. M. (total
$2,688,000 of corn.
stock, in accordance with plan in V. 113, p. 1252.
OIL CITY, PA.
ROAD.
-Operates between the cities of Olean, N. Y., Salamanca, N. Y.,
CITIZENS' TRACTION CO.-A trolley road.
and Bradford, Pa., with branches from Salamanca, N. Y., to Little
Valley,
In Mar. 1917 control was purchased by the Municipal
N. Y.,from Bradford, Pa., to
a Maine holding corporation, which see under Philadelphia, Service Co.. var, N. Y., and to ShinglehouLewis Run,Pa.,from Olean, N. Y., to BoliPa.
se, Pa.; total, 100.8 miles of road. Does a
ORGANIZATION .-Ineorporated in Pennsylvania Nov. 10 1899.
general passenger, heavy freight, mail, express and baggage
Owns
business.
and operates the Citizen' Light & Power Co., the Monarch
Main lines, 70
-lb. rails. 5 electric locomotives, 27 passenger cars, 25 freight
Park hotel Co
(an amusement park with 60 acres of ground). the
1:4!g Rock Bridge Co. cars and 10 service cars.
and the Reno Bridge Co.
OFFICERS.-Pres., C. N. Mason: V.
-P., J. P. Quigley; Sec. & Treas.,
In July 1920 an increase in faro from 7 cents to 8 cents with
special tickets L. W. Osborne; Gen. Mgr., R. H. Wheeler.
at 4 for 30 cents became effective.
-V. 113, p. 2407; V. 114, fl•
79, 948.
STOCK AND BONDS- Date.
Interest. Outstanding. Maturity'
Common $1.000.000(350)$1.000.000
See text
Preferred $1,000,000 ($50)OMAHA, NEB.
*1.000.000
Q-J
See text
First mtge $2.500.000 gold' 1912
5 A-0
1,333,000
OMAHA & COUNCIL BLUFFS STREET R V.
-A trolley road.
($1.000) sinking fund .c.tf f Pa Co. for Ins. on L. & Cl A., Apr 1 1942
Phila., Trus
ORGANIZATION -Incorporated in Nebraska. Owns lines formerly opRefunding mortgage $2,500.-1 1917
6 M-N
690.000 May 1 1942 erated by Omaha
000
St,. Ry.Co.: leases the Omaha & Council Bluffs Rv & Bridge
r.tf f Pa. Co. for Ins. on L. & G. A., Phila., Trus
• Of the $1,000.000 outstanding 3400 000 are in the
Co. in Council Bluffs, fa.. until 1947. together with its bridge over Missouri
treasury.
River, rental being $80.000 per annum, in addition to all fixed charges.
Bonds.-lst M.closed with $1.333,000 outstanding. Red. at
105 and int..
In whole on or after Apr 1 1917, or in part for sk. fd.
Litigation.
Sinking fd. of 1% per ann became operative July on or after July 1 1918. company to-An amended petition seeking a court decree ordering the
turn over to the city its entire street railway property In
1 1918. An Improve
ment fund of % of 1% per ann. operative on Jan
Omaha was filed in Jan. 1918 by Corporation Counsel Lambert. A judg1
p. 1118. 697. Int. at office of trustee. $1,333,000 Ref. 1923. See V. 94
ment
M.
to retire 1st M. Remaining bonds to be issued for additions bonds reserved action for the.company's earnings since Jan. 1917 was also asked
The
was based on the provision of the franchise
and extensions
under guarded restrictions.
Horse Car Co. (this company's predecessor), by whichgranted the Ornaha
its property was to
Diridends.-First div. on pref.-2% %-was paid Jan. 2 1913: July
revert
2%. In 1914, Jan., 2%; July, 23.%. In 1915, Jan.. 3%: in April 1913. handed to the city on Jan. 1 1917. V. 108, p. 86. A ruling has been
paid a
down by the court which holds that the right
guar. div. of 1 3.5% and same rate guar. to and incl. Oct. 1918.
reversion does
In Apr. 1919. extend to any part of the present property of the Omahaof Council Bluffs not
&
8%; July. i34', and same rate quarterly since to and Incl Dec. 1920
Hy.
Fares.
-In Sept. 1918 applied for auth. to increase fares from
In 1921. Jan., 3%; April, 1%: July 1 %. Initial div.
45
,
5 to 7
on co.. 1%. cents on account of
rn
paid Nov. 1915. In 1916. 134% in 1917,
increased wages, &c. In connection with this applica%; in 1918. April 1%; July tion an engineer
appointed
%; in 1919. July, 4%; Oct.. 3.5%; In
Jar.
%; April. 24%; the total value as of July to make a valuation of the co's property placed
July, 1%; in 1921, Jan.. 1%; April. 14%;1920. 1%.
1 1918 at 319,755,40
July,
107, p. 1193. In
Dec. 1918 the Nebraska Ry. Comm. denied the 0. V. application
EARNINGS.
for in-For 12 mos. ending Dec. 31 (incl. subsidiaries):
creased fares. V. 107. p 2376. The co. appealedabove
from this decision to the
Gross. Net aft. Tax. Fixed Chgs.,&c. Balance. State Supreme Court, which
on July 16, 1919 ordered the Neb.
1921
$950,648
$290,305
$116,709
$173,596 to grant the co. increased rates. The Court recommended a Ry. Comm.
1920
6
-cent fare
1.004,079
246,303
107,138
139,165 pending further investigation of the co.'s books
ROAD.
-Operates 33.11 miles of track in Oil City, Franklin, Rouseville, earning capacity and permanent rate. V. 109, to determine the present
p. 371. The Comm.. howSiverly and Reno and connecting routes on both sides
ever, on Aug. 6 1919 granted the co, a temporary increase
of the Allegheny ing
of cents, bringRiver. 65
-lb. and 70
the fare up to 7 cents. According to the Comm.'s order 2revenue
-lb. T rail and 85
-lb. girder
all
over
cars. 1 express car, 3 work cars. 1 snow-plow andrail. Has 53 passenger the average of 1914 to 1918 must
2 snow
controlled Citizens' Light & Power Co. furnished electric sweepers The settlement. V. 109, p. 677. In be held in a reserve fund pending final
Sept 1921 the Comm. denied the co.
light and power
for Oil City, Franklin and vicinity.
auth. to charge an emergency 8 cent faro. V. 113,
p. 1361.
OFFICERS -Pros.. Joseph Seep, Titusville; V.
STOCK AND BONDS-P., Chas. Day; Sec..
t
trt
utstanding.
Maturity.
John E. Zimmermann: Treas., L B Harvey; Asst. Sec.. C A.
$5,000,000
McClure. Common $10.000.000 ($100)--------------See text
Asst. Treas., J. W. Swain. Jr. Oper. Mgrs., Day & Zimmerman
5 Q-J
. Inc., Pref 5% cum from Jan 1 1904 _--4.000.000 Oct '22 234
Philadelphia. Pa.
-V. 101, P• 1806; V. 104. p. 1387; V. 106, p. 818; V. 112,
$5.000.000 ($100)
p. 2413; V. 115, p. 614.
Finn cons M $10.000.000 g 1902
5
9.819.000 Jan 1 1928
($1.000) no sink fund _c*.tf Interest at Si J-J
Guaranty Trust Co., New York.
Stork and Finnas.-$5.000.000 corn. and $1.000 000 prof
OKLAHOMA CITY, OKLA.
&side for ad rns & imp'ts. Of the first commis. $381.000 ownedstock are set
and in treas.
OKLAHOMA RAILWAY CO.
Diridends.-First dividend on prof. stock. 1 %. was paid
ORGANIZATION -Incorporated in Oklahoma on June 15
April 1 1901.
the name of Oklahoma City fly Co On Sept. 21 1907 name 1904 under and same amount roar. to and Incl. July 1918. None to Oct. 1919 when
changed to 234% was paid. In Dec. 1919, 2/5%. In 1920, Ap-11, 245%;
1
Oklahoma Ry. Co., increasing charter powers so as to constitute
,
July, 134%;
urban and interurban road with all the powers of a steam railroad both an, Oct.. 114%; Dec., 134%. In 1921, April, 134%; Dec.. 14%. In 1922,
corpora- Apr., 234%; July, 134%; Oct., 234%. On common, first div., 2%,
tion and eta lighting and power co., and increased stock from $1.000,000
to July 1907. In 1908 to 1911, 4% per annum. In 1912, 1913 and paid
$3.000.000. On Apr. 1 1911 purchased Oklahoma City & Suburban Ry
1914,
5%.
and on Aug. 1 1911 purchased the El Reno Interurban Ry.and the city !lima since. In 1915,445%. In 1916 and 1917,4%. In 1918, Jan., 1%. None
and franchises in El Reno. The Oklahoma Ry. also owns the Guthrie
City
REPORT.
-For calendar years:
Ry.and the No. Canadian Valley Ry. In 1911 increased stock from 32.000.Cal.
Gross
Net (after Other Rentals.
000 corn. and $1,000,000 pref. to $10,000.000 coin. and $5,000.000 pref
Pf.
Common
Bal..
Y . Earnings. Taxes).
About two-thirds of road on private right-of-way (incl. 28 miles of track
Inc. Int-etc .ear
Div.
Dividends
der. 8 87.
21: 5
within city); Oklahoma City franchise perpetual, subject to right of city
to purchase property on Jan. 31 1932 or at end of any 15-year period 1921_4.61.5.589 605.685 38,967 (137,457 1100,000
1920_ _4.807,529 777,877 28,176 637,639 a250,000
thereafter
El Reno franchise expires 1933; other franchises perpetual.
def.81,586
3
a6.4%.
The Guthrie-Edmond Electric fly. was incorp. in Dec. 1916 with $600.000
234%.
capital to build the extension from Edmond to Guthrie, 15 miles. placed in
ROAD.
-Operates 165.191 miles of track, embracing all the
street railoperation July 20 1918
ways .0 Omaha, Neb., and in Council Bluffs, Ia., including
the Omaha
Fares.
-On Nov. 1 1918 was authorized to increase passenger fares on and .louncil Bluffs bridge.
the interurban lines. Efiective Sept. 10 1920 was auth. to increase fares
OFFICERS.-Pres., W. A. Smith; V.
-P., J. A. Munroe; -P. & Gen.
from 6 cents to 7 cents, with 4 tickets for 25 cents. V. 111, P. 1183.
Mgr., R. A. Leussier; Sec. & Aud., W.G. Nicholson; Treas.. V.
A. S. Widenor;
STOCK AND BONDS- Date. Interest, Outstanding. Maturity
Asst. Gen. Mgr., F. S. Welty.
-V. 108. P. 2122; V. 109, P. 371, 677,
1987:
Common $10 000 000 i$100)
V. 110, p.360, 1613; V. 111, p. 1031, 1279; V. 112. p.
$38110000
1144; V. 113, p. 1361.
Pref $5.000.000(3100)5% cum
P
1675.
1.79 .9(r Jan'12,1 %
3. 11g.0 0
8
First and refunding mtge) 1908
317.000 Jan 1 193
5 g J-J
(1) Omaha & Council Bluffs Railway & Bridge.
$3,000,000 ($1,000) gold Of Int. at Safe Dep.& Tr. Co.. Pittsb., Trustee
ORGANIZA
First & ref mtge $12.000,0001 1911
3.653.000 .Jan 119.11 ieased to the TION.-Incorp. In Iowa In 1902. An electric road. Is
5 g J-J
Omaha & Council Bluffs Street Fly. For terms
gold ($1,000)
est Int. at Mississippi Valley Tr. Co., St. Louis
statement of the latter above. Owns entire capital stock of of lease, seo
) Trustee. or Harris Tr. & Say. Bk.. Chic
the Omaha
Council Bluffs & Suburban Ry.
Junior M g bonds (111.000)_cf 1916 6 J-J
350,000
See text Ry. The $600.000 mortgage and the Lake Manawa & Manhattan Beach
Red at 10145 and interestl Int at Miss. Vail. Tr. Co. St. Louis.; Tr
of the former company, made to the
Trust (Jo. of Chicago and Albert E. Johnson, as trustees, is all held Royal
Bond-secured notes $825.0001 1921
8 g J-J 1
825,000 Jan 1 1928 Ry. & Bridge
()o. Lake Manawa & Manhattan Beach has no fundedby the
($100. $500 & $1.000) call.lInterest at Mississippi Valley Trust Co.,
debt.
Franchises run until 1916. On Nov 6 1911 U. S. Supreme Court
at 103 and interest
St. Louis, Trustee.
pending appeal, the order of the Inter-State Commerce Comm.suspended,
(V. 89, p.
Bonds.
-Of the 1st & refunding bonds of 1911, $347,000 are reserved to 1697), reducing the fare from Council Bluffs
to Omaha from 15 to 10 cents.
retire underlying bonds; remaining bonds can be issued at not exceeding V. 93. p. 1387 940. On Juno
9 1913 the U. S. Supreme Court held
80% of cost of extensions, enlargements and additions unile• certain reCommission had no authority to make the reduction. V. 98. p that
1702.
strictions. Subject to call at 105 and interest on any interest date since
STOCK AND BONDS- Date.
Jan. 1 1921. V. 92, p. 1110. $680,000 are pledged as security for the
Interest. Outstanding. Maturity.
notes duo Jan. 1 1928. No sinking fund, but bonds have p. renewal Common $1,500.000 ($100)_
8%
$1.500,000
fund of 2% per annum on bonds out. The first and refunding mort- Pref 4% cum from Feb 1 1907 ____
F-A
1,500.000 July'22, 2%
$1.500.000 ($100)-------gage of 1908 is limited under the terms of the 1st & refunding mortgage
1st consol mtge $2,000,000 1902
of 1911 to $2,500.000, of which 82,153,000 are deposited as additional
5 J-J
1.923.000 Jan. 1 1928
($1,000) gold
security for 1st & ref. Ss of 1911 and $347,000 are out. Mtge. bonds of
c•tf Interest at Central Trust Co., N. Y., Trustee
1908 can be called on 90 days' notice at 110 and interest. No sinking
Bonds.
-Of the now let consolidated mtge. for $2,000.000, $192,000
are
fund. The junior mtge. bonds mature $15,000 s.-a. from Jan. 1 1918 reserved for improvements V. 89.
p. 1234. 1281: V. 91. p. 1119 $600,000
to July 1 1925 and $260,000 on Jan. 1 1926. They are secured by a lien bonds of the Omaha Council
Suburban
on the entire property subject to $4,000,000 underlying bonds, and also 1ty for the 0. St C. B. By. &Bluffs &consol. Sc. Fly, are deposited as Recur.
Bridge
cover the extension from Edmond to Guthrie, subject to a construction
Dividends.
-Dividends have been regularly paid on pref. stock since 1902.




he

101

ELECTRIC RAILWAYS

OCT., 1922.]

ROAD.
-Comprises 33.56 Intim of track, including the trackage of the
Omaha Council Bluffs & Suburban Ry. and the Lake Manawa & Manhattan
Beach Rye, embracing the entire street railways of Council Bluffs. Also
owns bridge between Omaha and Council Bluffs over the Missouri River.
-P., E. W. Hart; Sec., C. T.
OFFICERS.-Pres., Geo. S. Wright; V.
-V.96, p. 1702; V. 102, P. 1060.
Stewart; Treas., J. P. Greenshields.
-OMAHA & LINCOLN RAILWAY & LIGHT CO.
Controlled by the Illinois Traction Co. (see under Champaign, Ill.).
-Incorporated in Nebraska in July 1913 as succeeORGANIZATION.
sor to the Nebraska Traction & Power Co. Stock outstanding, com.,
pref.. 357.500.
848.800;
Interest. Outstandino. Maturity.
Date.
BONDS$250,000 Oct 1 1938
5g A-0
1st mtge $2.250.000 ($1.000)1 1913
celInt. at Central Tr. Co. of Ill.,Chic-Trustee.
no sinking fund
Bonds.-Subject to call on any interest date at 105 and interest.
-For calendar year 1921, gross, $182,192; net, after taxes,
EARNINGS.
$35.887. In 1920, gross, $204,674; net, after taxes, $50,215.
-Operates from South Omaha to Papillon. 12.5 miles.
ROAD.
-P., Chas. Zilly; Sec., E. A.
OFFICERS.-Pres., W. B. McKinley; V.
-V. 98, p. 913.
Macnutt; Treas., Geo. M. Mattis.

OSSINING, N. Y.
HUDSON RIVER & EASTERN TRACTION CO.
-Incorporated in New York on Feb. 15 1906. On
ORGANIZATION.
May 23 1911 Pub. Serv. Comm. granted permission to build an extensicn
from Ossining through Briarcliff Manor. Pleasantville and Sherman Park
to White Plains. 17 miles. 3 miles in Ossining are In operation. On Dec.
27 1911 Pub. Serv. Comm. auth. $806.000 additional bonds to complete
extension to White Plains(V. 94. p. 68). of which $55,000 have been issued.
-On Dec. 12 1917 the P. S. Comm. auth. an increase in fares from
Fares.
5 to 7 cents, or 4 tickets for 25c. This decision was canceled by the Court
of Appeals in April 1918. The village of Ossining thereupon amended the
franchise, granting the company a 6-cent fare. On Dec. 17 1918 the fran-cent rate auth. by the
chise was again amended so as to provide for the 7
N. Y. P. S. Comm. In Feb. 1920 the N. Y. P. S. Comm. auth the co.
to charge 8 cents on its main line in Ossining. V. 110, p. 561. In Apr.
1921 the P. S. Comm. auth. a 10-cent fare on this line. V. 112,p. 1740.
Interest. Outstanding. Maturity.
STOCK AND BONDS- Date.
$84.000
Stock $400.000
130.000 Feb 1 1957
-A
5g F
let mortgage $1,000,000 gold( 1907
c&rtflInt. at Equitable Trust Co., N. Y.. Trustee.
($1.000)
on any int. day at 105 and int.
Bonds.
-Are subject to call
-For year ending Dec. 311921, gross, $30,053: net, after
EARNINGS.
taxes. $3,520; int., &c., 310.052; bal., deficit. 36.532. In 1920, gross.
$27,315; net, after taxes, $4,949; interest, &c.. $10,208; bal., deficit. $5,259.
OFFR ERS.-Pres., 0. G. Bennett, Ossining; V -P., Winfiled Post.
Ossining; Sec., Henry D. Swain, Ossining; Gen. Mgr., W. L. Stratton;
-V. 110, P. 561; V. 112, p. 1740.
Treas., C. E. Hallett.

OTTTJMWA, IOWA.
(THE) OTTUMWA RAILWAY & LIGHT CO.
$617.030 corn, stock owned by Northern States Power Co.(Minn.).
-Incorporated in Delaware on Dec. 11 1905 as sucORGANIZATION.
cessor to the Ottumwa Traction & Light Co. The latter's franchises for
street railway electric lighting and steam-heating plants were extended
'
by municipal election on July 8 1901 for 25 years. In 1917 secured a
-year contract for the supply of wholesale electric power and light to
10
Batavia for distribution in various surrounding communities.
-On Dec. 23 1918 the City Council of Ottumwa granted
Fare Increase.
the company authority to increase fares to 6 cents. V. 108, p. 79. In April
1919 the City Council passed an ordinance recommending the return to a
-cent fare. V. 108. p. 1611. On July 10 1919 the Dist. Court of Iowa
5
affirmed the opinion of the Iowa Supreme Court compelling the co. to return
to a 5-cent fare. See also V. 109. P. 578: V. 111. p. 896: V. 112. p. 2306.
Meetly° Dec. 1 1921 the company announced an increase in faros from 5 to
7 cents. V. 113. p. 2407. The faro is now (Sept. 1922) 7 cents, subject to
final determination in U. S. District Court.
-V. 112, p. 2306.
History of Fare Litigation.
•
Outstanding. Maturity.
STOOK AND BONDS- Date. Interest.
See text
$650.000
Common ($100)
120,300 Oct:22.1 3
4
Q-J 15
Prof ($100) 7% cum
1,081,000 Jan 1 1924
and ref mtge $1.500,0001 1906
J-J
1st
5g
c*1 Int. at Central Trust Co., Chicago, Trustee
gold ($1.000)
Stock.-Pref. Is cumulative from and after July 1 1909; redeem. at 110
and d1v. on 60 days' notice. S729.703 pref. stock held in treasury.
-Of the 1st & ref. M. for 31.500.000 34)0.000 have been red.
Bonds.
The new bonds are subject to call at 103 and int. A sinking fund of 1%
per annum on bonds out commenced July 1 1909.
3
div. on pref.-1 4%-paid Oct. 1909 and same
amount quarterly since to and including October 1922.
-For years ending Dec. 31:
EARNINGS.
Bal. after
Int. Charges
Net after
Calendar
Int. Choes
Taxes.
(Net).
YearGross.
$23,266
$118,665
$141,931
$605,447
1921
107,981
14.677
122,658
583,886
1920
of trolley road in city of Ottumwa, Iowa.
ROAD.
-Operates 13 miles
Weight of rails,60-lb. T. Standard gauge. 34 cars. Also does municipal
commercial and residence electric-lighting; 80.5 miles of distribution lines
and 19.5 miles of transmission lines: supplies electric power for stationary
motors. &c., and operates a system of steam heating, with 3 miles of mains.
-volt transmission line
Present generating capacity, 4,067 h. p. A 66,000
from Ottumwa to Batavia. 14 miles, was completed early in 1918. Further
extension of 534 miles of transmission line connecting the city of Eldon with
the Ottumwa-Batavia line has been made.
-Pros,. Arthur S. Huey; V.-Pres. & Gen. Mgr., C. E.
OFFICERS.
Fahrney: Sec., R. J. Graf: Treas., J. J. O'Brien; Aud. J. F. Winn; Gen.
113, p. 1574, 2407,
'
Mgrs., 13yliesby Eng. & Mgt. Corp., Chicago,
2505; V. 115, p. 437.

PADUCAH, KY.
PADUCAH ELECTRIC CO.-Incorp. in Kentucky on Sept. 23 1919 as
successor by reorganization (see plan in V. 108, p. 1165, 1275) to the
Paducah Traction & Light Co. (for history see "Electric Railway" Supplement of Nov. 15 1919). Owns and operates the electric light, power, gas
and steam heating systems in Paducah, Ky., and through ownership of all
the stock (except directors' shares), of Paducah Railway Co . controls and
also operates the street railway system, serving a population estif
mated at 27,500. Also owns all (except directors' shares) the stock 0-'
the Paducah Realty Co. Principal franchises are free from burdensome
restrictions and in the opinion of counsel, extend well beyond the maturity
of the first mortgage bonds.
-Effective Oct. 11919,fares in Paducah were reduced from 7 cents
Fares.
to 6 cents. V. 109. p. 1367. In July 1921, however, the Federal Court
made permanent an injunction against the city, restraining it from interferng with the collection of a 10-cent fare. See V. 113, p. 293 for details.
Date. Interest. Outstanding. Maturity.
STOCK AND BONDS$605.000
Common $605,000($25)---None
__
7%
Preferred $595,000 cum
236,400
5%
1st M $1.000,000 ($100, $500( ____
686,600 July 1 1924
4
.
6g3 1
& $1,000) Ser "A"_esr*_tfi 1919
(Int. at State Street Trust Co., Boston, trus.
Series "B"
576.000 May 1 1939
Cony debentures $576,090__rf 1919 6%
iInt. at State Street Trust Co., Boston, trus.
Stock.
-The 7% pref. stock is reserved for the conversion of the 6%
debentures after Jan. 1 1921.
Bonds.
-In addition to being a first lien on the company's physical, &c.,
property, the 1st mtge. bonds are secured by all (except directors' shares)
the stock of the Paducah Railway Co. and Paducah Realty Co. The
escrow bonds may only be issued under certain restrictions of the trust
deed. $100 are held in treasury. Red. at 100 and int. at any time
on 30 days' notice. The 6% debentures are convertible at option of holders
into 7% cum. pref. stock after Jan. 1 1924.




Latest Earnings.
-For 12 months ending Juno 30:
Bal..Surp.
Gross. Net,aft.Tax.
Year$102.021
$63,752
$165,773
$540,616
1921-22
48.392
85,049
133,441
508.520
1920-21
track;standard
-Owns and controls 18.3 miles street railway
ROAD.&C.
gauge; 30 passenger and 2 other cars. Power station capacity 1,830 k. w.
Gas plant has a daily generating capacity of 490,000 Cu. ft.
-P., David Daly; Sec., Edward
OFFICERS.-Pres., Harry T. Edgar; V.
T. Clark; Treas., Henry B. Sawyer. Can. Mgrs., Stone & Webster Mgt.
Assn., Boston, Mass.
-V. 109, p. 1367. 1987.

PARKERSBTJRG, W. VA.
KANAWHA TRACTION & ELECTRIC CO.
-On July 1 1917 control was acquired by the Monongahela
Control.
Valley Traction Co.(see under "Fairmont, W. Va."). Under an operating
agreement effective July 1 1917 for 5 years or until terminated by either
party on 6 months' notice, the Monongahela Valley Traction Co. manages
all this co.'s properties, takes all revenues, guarantees debts and renders
an account at the close of each year end. June 30.
ORGANIZATION.-Incorp. in April 1915 and on June 7 1915 absorbed
by consolidation the Parkersburg, Marietta & Interurban Ry., which was
incorp. in 1902 in W. Va., and purchased the peme.rties of the Parkersburg
Gas, Electric Light & Street Ry., Parkersburg Interurban Ry. and Marietta
Electric Co. and on July 1 1911 the properties of the Muskingum Traction
Co. Frandises perpetual or for long periods. The co. guarantees the
mortgage bonds of the Parkersburg & South. Side Bridge Co.
-In Feb. 1920 the Supreme Court of Appeals upheld the right
Decision.
of the city of Parkersburg to collect a certain percentage of the co.'s gross
revenues under the franchise agreement. V. 110. p. 561.
Interest. Outstanding. Maturity.
Date.
STOCK AND BONDS$1,100.000
Common stock $1,500,000See text
1.078.500
-Q-J
Prof stk 31,500,0006% cum__ ____
1.700,000 Aug 1 1936
5 g F-A
1st & ref M $5.000,000 gold( 1916
-cetflInt. at Fidelity Trust Co. Baltimore, Md.
($100. $500 & $1.000)
1938.
156.000
5
1st M gold Parkersburg lines__ 1898
1942.
550.000
5
1902
Consol mtge all lines
Stock.
-Preferred stock is cumulative from July 1 1916. All of the outCOM. & pref. stock is owned by the Monongahela Valley Tree. Co.
standing
-The First & Refunding bonds are issuabie in series as the comBonds.
pany's needs require. The present series, Series "A," is in the authorized
amount of 32.000.000, of which $1,700,000 were issued in April 1917 to
-year 5% notes due June 15 1917. and $150.000
retire the $1,100.000 2
Marietta Electric Company bonds paid April 1 1917, and for extensions.
&c. Provision is also made for refunding other underlying bonds at or
before maturity. The bonds are subject to call on any int. date at 105.
Fidelity Trust Co. and Van Lear Black of Baltimore are trustees. 1st
Mtge. bonds on Parkersburg lines are subject to call.
Dioidends.-Divs. of lee% quar. on pref. stock were begun Oct. 1 1915.
-For years ending Dec. 31 (see above under "Control"):
EARNINGS.
Surp.
Gross. Net after Taxes. Interest.
Calendar Year395,850
3133.019 Bal.'
3228.899
3928,269
1921
126.850
120,000
216,592
915,457
1920
-Has system of street railways in the cities of ParkersPROPERTY.
burg, W. Va.. and Marietta. Ohio, and an interurban railway from Parkersburg, W. Va., to Marietta, and from Marietta through Lowell, Ohio, to
Beverly, Ohio, aggregating 60.81 miles. Uses bridges of Marietta Parkersburg Bridge Co., one crossing the Ohio River at Marietta, 0., and Williamstown, W. Va., the other crossing the Little Kanawha River at Parkersburg, W. Va., In which it owns the entire stock. Supplies all electricity
for light and power in its territory except street lighting in Marietta. In
January 1916 completed a new modern electric generating station in Parkersburg with a total capacity of 12,500 k. v. a.. of which 6.250 k. v. a. Is
Installed, and owns 1 steam electric station, 1.600 h. p. for reserve and
emergency purposes.
-P., Thos. Logan; Sec. &
OFFICERS.-Pres. G. M. Alexander; V.
-V. 104. p.
Treas., 0. F. Lough; Asst. Sec. & Asst. Trea.s., S. E. Miller.
1145, 1702; V. 105, p. 1522; V. 110, p. 561.

PATCHOGUE, LONG ISLAND, N. Y.
SUFFOLK TRACTION CO.
On Oct. 10 1919 the co. ceased operating owing to the refusal of the
Patchogue Electric Light Co. to furnish it with any more power unless the
co. paid its bills. V. 109, p. 1527. For last statement of this company
published see the "Electric Railway" Section of Sept. 29. 1918.

PATTON, PA.
NORTHERN CAMBRIA RY. CO.
-Organized as successor to the Northern Cambria
ORGANIZATION.
Street Ry. Co.. sold under foreclosure Mar. 311918. V. 106, p. 2229.
-In June 1920, cash fares were raised to 10 cents.
Fares.
-For calendar year 1921, gross, $85,450; net, $12,527. In
EARNINGS.
1920. gross, $82,128; net, $20,712.
ROAD.
-Operates 13 miles between Patton, Carrolltown, Spangler,
St. Benedict and Barnesboro. Standard gauge, 70-1b. T and girder rails.
-P., Rembrandt Peale; Sec.,
OFFICERS.-Pres., Jas. H. Allport; V.
C. L. Calahan; Treas., C. A. Sharbaugh.-V. 106, p. 2229. 2450.

.

PEEKSKILL, N. Y.

PEEKSKILL LIGHTING & RAILROAD.
In 1909 Westchester Lighting Co.,controlled by Consol. Gas Co. of N. V.
purchased the entire common stock and a block of pref. of the Peekskill
Lighting & RR. See Westchester Lighting Co.. V. 89, p. 108.
-Incorporated as the Peekskill Lighting Co. on July
ORGANIZATION.
12 1900; subsequently purchased the Peekskill Gas Light Co. and Peekskill
Electric Light & Power Co. Name changed as above upon purchase of the
Peekskill Traction on Aug. 31 1900. Comprises all the gas, electric light,
power and street railway interests of Peekskill. Franchises of electriclighting plants and railways are perpetual. Gas franchises liberal.
Interest. Outstanding. Maturity
Date.
STOCK AND BONDS1910. 4%
0500.000
Common $500,000 ($100)_
6 J-D
130,500 Dec'17, 3%
Preferred $150,000 6% cum___
616,030 Oct 1 19:30
5 g A-0
1st mtge $750,000 (31,000)1 1900
celInterest at N. Y. Trust Co., N. Y., Trustee.
gold sinking fund
Stock.-$19,500 par value pref. stock has been reacquired by the co.
-Whole issue (but no fractional part) can be redeemed on any
Bonds.
interest date at 110 and interest. Sinking fund Is provided at the rate of
$10.80 per bond outstanding, beginning Oct. 1903. The remaining bonds
when
cost, and
can only be issued for extensions, &c., at 75% of actualleast twiceonly interthe
net earnings of the previous 12 months are equal to at See V. 71, p. 913.
on the outstanding bonds and the proposed issue.
est
$14,000 are In treasury.
-6% per annum paid on pref. stock up to Dec. 1917. None
Dividends.
since. On common, in 1906, 1%; in 1907. 3A %; in 1908. 4%; in 1909,
4%:in 1910, 4%. None since.
-For years ending Dec. 31:
EARNINGS.
Net aft. Tar. Other Inc. Fixed Chges.80c. Balance.
Cal. Yrs.- Gross.
sur.$1,585
$60,030
$805
$60,810
$378,954
1921
def. 818
55,220
721
53,651
359,399
1920
miles of track in Peekskill and to Lake
-Owns and operates 10.71
ROAD.
Mohegan and Verplanck's Point, with branch to State Camp.
-P., & Gen. Mgr.
OFFICE RS.-Pres., F. A. Stratton, Mt. Vernon; V.
W. C. Fisher, Ossining; Sec.. Dr. B. W. Stillwell: Treas.. R. A. Carter;
. D. Swain, Ossining. General office. Peekskill, N. Y.
Asst. Treas., H.
V. 106, p. 190; V. 108, p. 2529; V. 113, p. 2080.
PUTNAM & WESTCHESTER TRACTION CO.
-Incorporated in New York in July 1906. Stock
ORGANIZATION.
authorized and issued, $75,000; par. $100. First mtge., auth., $200.000;
outstanding, $71.000 gold(OM 5% J-J due July 11937; int. at Columbia
Trust Co.. New York, trustee. Subject to call at 105 and int. Earnings for year ending Dec. 31 1921, gross, $12,394; net, after taxes, $1,111

MAP

LAKE

,SHOWING LOCATION AND CHARACTER OF PROPERTIES
OWNED AND OPERATED BY
THE AMERICAN RAILWAYS COMPANY

HURON

0
e

KEY

•

114.ICHIGAN

GAS SERVICE
ELECTRIC RAILWAY SERVICE

W

Syracuse

0
I
•
Troyi

ALBANY

s BUFFALO

I)
ip LAKE

1

4
4.

LANSING*

LilICHIGAN

0

1
t
a

Rochester
°

° Grand Rapids

INTERURBAN RAILWAY
TRANSMISSION LINES

1—

RONIE

DETROITm

)
I, - -

A

-

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0
Q

rie

NILES

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ELECTRIC LIGHT AND POWER SERVICE

103

ELECTRIC RAILWAYS

OCT., 1922.]

In 1920, gross, $11.200; net, after taxes. $2,244; fixed charges, $3,755;
deficit, $1,511. On Dec. 12 1917 the P. S. Comm. grantel authority
to increase fares from 5 to 7 cents with sale of 4 tickets for 25 cents.
On Juno 18 1919 fares were increased to 8 cents in Peekskill. V. 108. p.
2529. On Mar. 31 1921 auth. to raise fares to 10 cents was granted.
Road 4 miles from Peekskill to Oregon, Putnam County. Pres., Geo. E.
-P., Frank M.Dain: Treas., Alfred J. Mason: Sec., H. D.Swain.
McCoy; V.
-V.106, p. 190; V. 108, p. 2529.
Asst. Treas. & Asst. Sec.. Chas. Le Clair.

PEN ARGYL, PA.
-A trolley road.
SLATE BELT ELECTRIC STREET RV.
Receirership.-In Feb. 1922 0. .T. Mutchler was appainted recelver for
the co. on application of First Nat. Bank of Bangor. V. 111. p. 948. 1288.
In Aug. 1922 the receiver was auth. to issue $21,000 receiver's ctfs. V. 115,
p.
-See V. 115, P. 870.
Reorganization Proposed.
-Incorporated in Pennsylvania on Feb. 14 1899.
ORGANIZATION.
Was formerly leased to the Lehigh Valley Traction Co., but lease canceled
on May 10 1904, owing to default in payment of rental. For changes in
directorate and officers in Feb. 1917, see V. 101, p. 765.
-George K. Mosser, Allentown. Pa.; Alan C.
Committee for 2d ti 4s.
Dodson, Bethlehem, Pa.; W. W. Doughten, Brown Bros. Bldg., Philadelphia. Pa.; Thomas A. Keck, Falmouth, Mass.; Frank M. Horn, Catasauqua, Pa.; Hubert E. Rogers, Sec. & Counsel, 60 Wall St., N. Y. City.
Depositary: New York Trust Co., N. Y. See V. 103, p. 2156.
Interest. Outstanding. Maturity.
Date.
STOCK AND BONDS$360,000
Stock $360.000 ($50)
1942
130,000
5 g J-J
goll 1912
First mtge. $130,000
c*tf Int. at the E.P. Wilbur Tr. Co.,So.Beth.,Tr.
($500 & $1,000)
1942
270,000
4 g J-J
Second mtge. $270,000 gold 1912
($100, $500 & $1,000)-c*tf lint. at E. P. Wilbur Tr. Co., So.Beth., Tr.
Bonds -1st mtge. bonds are callable at 102 on any int. date. 2d mtge.
bonds are subject to call at par on any interest date. Int. on 2d M. bonds
Is in default.
EARNINOS.-Year ending Dec. 31 1917, gross, $102,808; net, after
taxes, $25,126. In 1916. gross. $90,599; net, after taxes, $23,498.
-Operates 18 miles of track from Nazareth to Bangor. 67-lb.
ROAD.
rails. 10 cars. 6 miscellaneous cars.
-P.. Dr. J. O. Keller;
OFFICERS.-Pres., A. II. McAdams, Phila., V.
Sec., G. A. Schneebell; Treas.. Thomas .T Ryan: Gen. Mgr.. J. T. !TamilV. 101, p.765; V. 114, p. 948, 1288; V. 115,P. 870.
ton.
-V.103, p. 2156;

PENNSGROVE, N. J.
SALEM & PENNSCIROVE TRACTION CO.
ORGANIZATION.-Incorp. in New Jersey Sept. 14 1915. Completed
a line from Pennsgrove to Salem, N. J., 14 miles long, of which 3% miles
between Ponnsgrove and Deep Water Point has been in operation since
Aug. 15, 1916, and the whole line to Salem (14 miles) since Jan. 22 1917.
-lb. T rail; gauge, 4 ft. 8% in. 19 pass. cars, 1 combination snow plow
70
and work car.
Voting Trust -The stock has been placed in a voting trust for five years,
under which dividends are restricted to 6% per annum until at least half
of the 2d mtge. bonds and all of the 1st M. bonds outstanding in excess
of $225,000 have been retired.
-Effective Fob. 28 1920 was auth. by the N. J. P. U.
Fare Increase.
five zones. V.
Comm. to increase fares from 5 to 7 cents in each of the8 cents.
110, p. 1090. On May 28 1921 zone fares were raised to
V. 110, p. 1527.
-See
Equipment Trust.
Date. Interest. Outstanding. Maturity.
STOCK AND BONDS$187,500
Stock $850,000 ($100)
6 g J-D
398,700 Dec 1 1935
1st mtge $750,000 gold ($100, 1915
c*tf Int.at Pa. Co. forIns.on Lives,&c.,Phila.,tr.
and $1,000)
$500
93.000 Dec 1 1935
Second mortgage $100,000 1915 6 g J-D
c*tf Int. at Wilmington (Del.) Trust Co..trustee.
gold ($1,000)
nIng first mtge. bonds are issuable for additional equipBond.s.-Remai
ment, power plant and other property. The mortgages provide that the
company's net Income be applied-80% to the 1st M.and 20% to the 2d M.
-to the purchase of bonds at not over par and interest, or to their
bonds
call at that price, the bonds to be canceled. This sinking fund, however,
to 2% of
Is not to exceed $50.000 in any one year and is to be reducedbonds outbonds outstanding when half the 2d M. bonds and all 1st M.
standing in excess of $225,000 have been retired. The fund became operative July 1 1917. $33,7Q0 1st M. and $7,000 2d M. bonds have 13C01)
retired. Both issues are rddeemable, all or part, at par and int. on any int.
date on four weeks' notice. The 2d M. bonds are all owned by E. I.
du Pont de Nemours & Co.
Balance,
Bond
Net after
Gross
EARNINGS.Surplus.
Earnings. Tax.,Depr.,&c. Int.
Period Covered$29,502 def.$69,136
Year ending Dec. 31 1921_ __ $86,392 def.$39.634
29,502 def.47,431
Year ending Dec. 31 1920__- 140,499 def.17,929
-P., W. W. Hepburn: Sec. &
OFFICERS.-Pres., 0. N. Martin: V.
-V,102, P. 886; V. 101, p. 765; V. 110, p. 1030, 1527
W. E. Ervin.
Treas.,

PEORIA, ILL.
-For statement of this company
PEORIA RAILWAY TERMINAL CO.
see our "Railway and Industrial" Section.

PETALUMA, CAL.
PETALUMA & SANTA ROSA RR.
-Incorporated in California on Aug. 23 1918 as sucORGANIZATION.
cessor to the Petaluma & Santa Rosa Ry. in accordance with reorganization
plan outlined in this publication of Sept. 29 1918.
In Oct. 1918 the Cal. RR. Comm. in P supplementary order auth. the
co. to issue $1,000.000 corn, stock, $173.600 6% cum. pref. stock and $698,400 53. % 25-yr. 1st mtge. bonds. Capitalization as of Oct, 1 1921 was
as follows:
Interest. Outstanding. Maturity.
Date
STOCK AND BONDS$770,700
Corn stock $1,000.000 ($100)173,600
6%
Pref cum $250,000 ($100)_
658.000 Sept. 1 1943
54 g M-S
1st mtg 25-yr $750,000 ($1001 1918
c&rj First Federal Trust Co.. San Francisco, Tr.
& $1,000) g
-The common stock Is deposited with the First Federal Trust Co.
Stock.
for 7 years under proxy agreement; pref. stockholders have the right to
elect a majority of directors in case of non-payment of their dividends.
Preferred stock is redeemable at par.
-Callable at 105 for sinking fund. The mtge. provides that
Bonds.
earnings ordinarily applicable to corn. divs. shall be apportioned as follows:
(1) If earnings justify and conditions permit, a div. of 2%% shall be paid
on corn, stock. (2) Any amount remaining after such payment shall be
distributed 50% to common stockholders, 25% to a trust fund to retire
Remaining uhissued.
1st M. bonds and 25% to retire preferred shares.
bonds are reserved for construction. Int, payable inNewYork& San Fran.
-On pref. stock are being paid regularly. 1% was paid on
Dividends.
the corn. stock in 1919. In 1920, 1%. In 1921, 1%. In 1922. May. 1%.
-For years ending Dec. 31:
EARNINGS.
Other Inc. Charges. Surplus.
Net.
Gross.
Year$54,880
$8,791 x$88,298
$134,387
$547,034
1921
60,423
58,436
_
118,859
456,653
1920
66,950
54,383
725
120,608
370,181
1919
x Including taxes.
carried in 1921, against 652,540 in 1920.
638,614 railway passengers
159,950 tons freight in 1921, against 140,082 in 1920.
-Operates 44.64 in, of track from Petaluma through Sebastopol
ROAD.
to Santa Rosa, with branches Sebastopol to Forestville and Liberty to
Two Rocks. Connects at Petaluma with steamers for San Francisco.
Owns steamers "Gold" and "Petaluma." Standard gauge. 70-1b. T rails.
-P. & (3en.
OFFICERS.-Pres., Thomas Maclay, Petaluma, Cal.; V.
ta., E. II. Maggard; Treas., Geo. P. McNear; Sec., R. W. Wise: Aud.,
von Emster.-V. 107, p. 697, 906, 1193, 1580, 1670.
H. W.

PENSACOLA, FLA.
PENSACOLA ELECTRIC CO.
-On Jan.26 1920 Federal Judge Sheppard appointed James G.
Receivership.
Holtzclaw, receiver for the company, on complaint of the Old Colony Trust,
-cent
Co., Boston, the company being unable to operate at a profit on a 5
fare. V. 110, p. 465.
-In Jan. 1921 the co. was auth. to increase fares to 8 cents
Fare Increase.
cash with tickets at. 73-i cents. V. 112. p. 373.
-Incorporated in Maine on July 6 1906, and is sucORGANIZATION.
cessor to the Pensacola Electric Terminal Co. Owns the securities of the
Escambia County Electric Light & Power Co. Does all the street railway
and (through the Escambia County Elec. Lt. & Pow. Co.) the entire electric
lighting and power business of Pensacola. Railway franchise expires in
1933; lighting franchise perpetual.
In Jan. 1919 issued $500,000 2-yr. 7% notes to retire a like amount of
3-yr. 6% notes due at that time. In order to retire floating indebtedness
amounting to $220,000 and to provide for exts. and impts. under construction, the co. issued in Jan. 1919 $120,000 1st Mtge. 5s due Aug. 1 1931,
V. 108, p. 79.
Up to April 1921 no provision had been made for the payment of the
$281.900 7% notes due Jan. 1 1921. Compare V. 112, p. 653.
tstanding. Maturity.
te
STOCK AND BONDS$800,000
Common $1,050.000 ($100)--- ----------------See text
300,000
J-D 1
Pref $500.000 ($100) 6% cum_ _
1,218.000 Aug 1 1931
-A
5g F
1st mtge $1,500,000 gold_ All 1906
jInt. at Old Colony Tr. Co., Boston, Trustee.
281,900 Jan. 1 1921
7 g J-J
Coupon notes $500,000 goldl 1919
($100, $500 & $1,000)_c*tf)Int. at Old Colony Tr. Co.. Boston, Trustee
-The preferred stock is redeemable at 115.
Stock.
-$159,000 are reserved for additions and Improvements at 80%
Bonds.
began
of cost. A sinking fund of 1 % %per annum of bonds outstanding charge
Dec. 1 1907. first five payments were waivable, but became a fixed
and
Bonds subject to call as a whole at any time at 105been
on Dec. 1 1912.
$123.000 have
Int., and in part for sinking fund only. V. 83. p. 156; and int. on 30 days'
canceled. Coupon notes are callable as a whole at 101
notice. $218,100 is in treasury.
-First div., of 3%, was paid on pref. June 1 1907 and 3% was
Dividends.
strike on compaid Dec. 2 1907. In 1908 June dividend passed because of 3% extra ou
0
pany's lines. None to Dec. 1909, when 37 regular and
paid another 3% on
account of accumulation were paid. March 1910 30 extra, paying up
7
and
account of accumulations; June 1910 3% regular
In 1914.
all accumulations; Dec., 3%. In 1911, 1912 and 1913, 6%. 1916 3%
paid. In Dec.
June, 3%. None to June 1916, when 3% was1917, 6%. In 1918, 6%.
account of accumulations. In
and 1%7, extra
Dividends in arrears, 16)i%•
-For 12 months ending Dec. 31:
EARNINGS.
Gross. Net (after Tax.) Interest. Sink.Funds. Surplus,
Year$100,485
$102,274
$513.592
1919
e81
$51 6 9
0
87,067
145,668
506,050
1918
of track; standard gauge, 33 motor and
-Operates 21.7 miles
ROAD.
has 2,800k. w. capacity.
11 trail pass. cars and 9 other cars. Power station
-P., Chas. F'. W. Wet.
OFFIOERS.-Pres., Geo. J. Baldwin, N. Y.; V.
Stone &
terer; Sec., Geo. A. Peirce; Treas., Henry B. Sawyer; Managers. 653.
-V. 110. p. 465;V 112. p. 373,
Mass.
Webster Mgt. Assn., Boston.




PHILADELPHIA, PA.
UNITED NATIONAL UTILITIES CO.-Por history see "Electric
Railway Supplement" of Oct. 22 1921.
NATIONAL PROPERTIES CO.
For history see "Electric Railway" Supplement of Oct. 22 1921.
THE AMERICAN RYS. CO. (of New Jersev• (See Map page 102.)
Practically all the common stock of this company was formerly owned by
the National Properties Co. (controlled by United Natl. Utilities Co.) but
the stock was pledged under an issue of Natl. Properties Co.4-67 collateral
trust bonds and default having occurred, the stock was sold at public
auction on Nov. 8 1920.
-The American Rys. Co. was incorp. under laws of
ORGANIZATION.
N. J. in 1900 as a consoridation of the former American Rys. Co. and the
United States Electric Ry. & Light Co., which latter had only $1,000 of
outstanding stock.
In Dec. 1905 purchased a controlling interest in the Scranton Ry. Co.,
paying par ($50) for both common and pref. stock. V. 81. p. 1847; V. 82,
p. 1375: V. 104, p. 71.
The Peakland Corporation was formed during 1909-10 with $50,000
stock (all owned by American Rya.), to acquire and own real estate in
vicinity of Lynchburg
In Aug. 1911 acquired the Ohio Valley Elec. Ry. and issued $2,000,000
coll, trust bonds to pay for same and for ext. and impts. V. 92, p. 1435;
Y. 93, p. 468.
On March 1 1917 acquired the National Gas, Elec. Light & Power Co.
(V. 101, p. 135.) In May 1917 acquired the Jersey Central Traction Co.
(which see under "Keyport, N. J.") and the Monmouth Ltg. Co.
In Jan 1917 $1,750,000 10-year 5% coll, trust bonds were issued to
provide in part for the $2,500.000 bonds maturing April 1 1917. The new
bonds are secured by the same collateral as the original issue. V. 104, p. 361.
The American Railways Co.-Natl. Gas. coll. tr. 5% bonds due Mar. 1
1922 were extended for years at 6%. V. 114, 13. 1405.
-On May 18 1920 the stockholders
New Pref. Stock-Financing Plan.
voted in favor of a new issue of $4,000,000 2d 7% cum. pref. stock. V. 110.
P. 2290. It was originally planned to issue this stock in connection with
a new financing plan (see this Section for Oct. 30 1920), but the plan
was so amended as to provide for the issuance of the 7% income bonds
nstead.-V. 111, p. 587. The plan also provided for the funding of
IPProximately $3,500,000 of notes payable to banks and bankers into a
S-yr. 8% note of the co. secured by about $4,500.000 of bonds of the sub.
-See summarized plan in this Supplement of Oct. 30 1920.
cos.
-See V. 114, p. 2715.
Refunding Discussed.
Interest. Outstanding. 14aturity.
Date.
STOCK AND BONDS$9,460.000 See text
J-D 15
Common $17,000,000 ($50)___
pref 7% cum $4,000,000}
1st
1,000,000 See text
7 Q-I?
2d(pSr1e0P$14-,000,000
0
No0
7% F-A 1 2,950,0ne Feb 1 1925
$3,000.0001 1919
,4-yr secured notes
cjPa. Co.for Ins. on L.& Gr. Ann.. Phila., Tr.
($1.000)
1,750,000 Mar 1 1927
5 M-S
Coll trust $1.750,000 gold._ _ _ _ 1917
2,500,000 Aug 1 1931
5 F-A
Collat Trust $2,500,000 goldk 1911
cony ($500 & $1,000)-esti(mt. at Merchants' Un. Tr. Co.,Phila.. Truro.
2,000,000 Jan 1 1961
5 J-J
Vall Elec con tr gold-ntf 1911
ohlo
1940
1.143,250
77o_
Income bonds (see text)
987.500 Jan 1 1930
5 J-J
Lynchb & Roan coll trustl 1910
($500 &{Int. at Real Estate Title Ins. & Trust (Jo.,
$1,000,000 gold
c*tf( Philadelphia, Trustee.
$1,000)
982,080 Mar 1 1927
6 M-S
Nat Gas coil trust $1.000,000 1917
($100, $500, $1,000)-c*_tf Int. at Commercial Tr. Co., Phila., trustee.
570,000 Mar 1 1947
6 g M-S
Jersey Central Tract cull tr 1917
8
(1o. Phila., trustee.
$570,009 gold ($1,000) c*tf Int. at Commercial Tr.178.,7
5%
Purchase money notes Wilm.
& Ches. Tr. coll. trust__ _
15,000
6 F-ASee text
Car trust ctfs Series "A" 1913
tf
($1,000)
See text,
48,000
6 F-A
Car trust ctfs Series "B" 1914
c*ntf
($1,000)
See text
72.000
5 F-A
Car trust certificates Ser "C" 1916
tfLogan 6 A Co.
sc 1917 Tr ust-O of Philadelphia, trustee.
($1,000)
See text
107.000
Car tr cert Ser D ($1.000)_c
stock are
Stock -Prof. stock is red. at any time at 110. Prof. & corn. by sharelisted on Philadelphia Stock Exch. The pref. stock was auth.amount of
holders on Oct. 17 1912 (V. 95. p. 889, 1038, 1206) and the auth.
common stock was reduced from $25,000,000 to $21,000,000.
-For securities pledged as coll. for 3-yr. notes. see V. 108, P. 577.
Notes.
days notice.
Red. all or in part on any int, date at 101 and int. on 60 and matured
l'enna. 4 mills tax refunded. These notes were originally 7s $50,000 have
been extended to Feb. 1925 at 7%%.
Feb. 11922, but have
been retired. Co. pays normal Federal income tax. V. 10., p. 577. The
$3,500,000 8% 5-yr. notes are secured by deposit of $4,550,000 bonds of
subsidiary companies.
&mos.-The collateral for the bonds of 1917 consists of $1,475,000 stock
of Altoona & Logan Val. Elec. IV. and $1,975,000 stock of Scran. IV. Cu.
Coll. trust bonds of 1911 have no sinking fund but bonds are subject to
call on any int. date at 102. The collateral for the bonds consists of $2,250,000 stock (out of $2,500,000 issued) of the People's Ry. of Dayton and
$1.600.000 first consnl. 5s of the Chicago & Joliet Elect Ry.

104

ELECTRIC RAILWAYS

[VOL. 115.

Lynchburg-Roanoke coll. tr. bonds are red. on any int. day at 10234 and
Service Abandoned.
-The co. ceased operations on June 15 1922, owing to
int. They are secured by deposit of 14,975 shares and 9,725 shares of its inability to operate the road at a
Lynchb. Trac. & Lt. Co. and Roanoke Trac. & Lt. Co.stocks, respectively. term lease, however, was obtainedprofit. V. 114, p.2239,2822. A shortoperate
by Clayton
Bonds are listed on the Philadelphia Stock Exch. The Jersey Central abandoned line between Miliville and Bridgeton,McPherson to p. 182. the
N. J. V. 115,
In
Trac. coll. trust 6s are secured by $531,400 corn.stock of the Jersey Central Oct. 1922 it was reported that the Cumberland Traction Co. had been
Traction Co. and 8335,000 common stock of the Monmouth Lighting Co. formed with a capitalization of $100,000 to take over this line. V. 115, p.
Redeemable at 10234 and interest on any interest date. The National 1836.
Gas coll. tr. bonds were originally 5s and matured Mar. 1 1922. but were
81'0010 AND BONDS- Date.
Interest. Outstanding. Maturity.
extended for 5 years to Mar. 1 1927 at 6%. V. 114,p. 1061, 1405.
Stock.$500.000($50)
$
First mtge $500.000, gold. 1900 5 g JCar Trust Certificates.
Jan. 1
-Of Series"A." 15 certfs. mature Aug. 1 each year
.1
guar ($1.000 and $500) Interest at Equitable Tr95 00 an
to 1923 Inclusive. Series "13," 11 ctfs. mature Aug. 1 1915 to 1925 incl
550070
l9 0
u, oj.. hilade100
3
(cannot be
_*ctt I phia. Trustee.
15 mature Aug. 1 1926. Series "0" ctfs. mature $12,000 yearly Aug 1
Bonds.
-For form of guaranty by American Railways Co. see V. 71. p.
called)__to 1928. They were issued by the Logan Trust Co. and unconditionally
191. The bonds were listed on the Philadelphia Stock Exchange in Feb.
guar., p & I. (end.), by the American Rys. Co. V. 103, P. 1031
Series "D" Certificates mature $21,000 each July 1 from 1918 to 1926 and 1901. The following are deposited as security under the mortgage:
1,000 shares of the stock of the Bridgeton Rapid Transit Co.
523.000 July 1 1927.
377 " "" " "" Bridgeton & 1V1illville Turnpike Co.
CONTROLLED.
-The following is a list of the securities owned by /250.000 (entire issue) 5% gold bonds of the Bridgeton Electric Co.
The American Railways Co.:
EARNINGS.
-For year ending Dec. 311921, gross, $136.884; net, after
Owned by
taxes, def., $16,881; fixed charges, $25,946; bal., def., $42,828.
Book
Outstanding.
A. R. Co.
ROAD.-BrIdgeton to Melville. 11 miles; Bridgeton to Bivalve. 2134
Value.
Amer.Rys. Co. of Del.common stock..__
$1,000
$1,000
$1,000 niles; Bridgeton, local. 534 miles. Total, 3734 miles. Cars: pass.. 29;
Of New Jo-soy common stock
9,460,000
155,700
12,562 ethers. 5; total, 34.
Of New Jr83y preferred stock
4,000,000
OFFICERS.-Pres., Van Horn Elv; V.
31,000
31.000
-Ps.. H. J. Crowley and C. L. S.
Ohio Valley collateral trust 5s
2,000,000
726,500
623.195 Tingley; Sec. & Treas., Walter W. Perkins; Asst. Sec.-Treas. & Compt.,
7% income bonds
18,350
18,350 Frank J. Pryor Jr.; Gen. Mgr., Julius Theobold.-V. 105, p. 2093: V. 108,
Chicago Rys. Co. participating certfs_
p. 1822; V. 112, p. 2535; V. 113, p. 959; V. 114, p. 1405, 2115, 2239, 2822;
115,237
Union Traction Co. stock
12.500
15,106 V. 115, p. 182, 1836.
Altoona & Logan Valley stock
1,500,000 1,500,000
403,750
(2) Bridgeton
-Acquired in 1899 by American Railways
Cons. Mtge. 4345
3,807,000
507,000
430.680 Co. Merged intoElectric Co. of Now Jersey in 1919. For history, see
Electric Co.
Boyd County Electric Co. stock
220,000
220.000
214,800 "Electric Railway" Supplement of Oct. 22 1922.
Bridgeton & Millville Traction Co.stock_ 500,000
500,000
459,364
0) Chicago & Desplaines Valley Electric Ry.
1st M 5s
500.000
16.000
16,580
Property of the company was purchased by the Chicago & Joliet Electric
Chester County Lt.& Pr. Co. 1st M.5s_
125,000
125,000
106,250
Chicago dr Joliet Elec. Ry.Co.pref.stock 1,350.000 1,350.000 1,350,000 By. Co. June 30 1921, and has been merged into that co.
Common stock
2,300,000 2,300.000
813.995
(4) Chicago & Joliet Electric Ry.-Trolley.
General Mortgage 6s
1,600,000 1,600.000 1,280.000
ORGANIZATION.
-Incorporated as a consolidation of the Chicago &
Consolidated Lt. Heat & Pr. Co. stock.. _ 865,000
865,000
865,000 Joliet Rapid
Transit Co.,
Dellwood Park Co. stock
150,000
150,000
150,000 ated by power purchased the Joliet Street Ry. and the Joliet RR. Is operElectric Co. of New Jersey preferred..
90,000
90,000
90,000 The American 'Railways from the Public Service Co. of Northern Illinois.
owns $1,600,000 bonds and the entire $2,300,000
Common
257,500
257,500
248,901
1st Mortgage 5s
516,000
502.000
441,127 corn. and $1,350.000 pref. stock. In Nov. 1905 the American Railways
purchased 63 acres of land near Joliet, which was converted into a
Electric Securities Co. preferred
125,000
125,000
125.000 This park is owned by the Dellwood
Park Co., all of whose stock is held by
Common
park.
300,000
300,000
59.503 the American Railways Co.
Franklin Real Estate Co. stock
10,000
10,000
10,000
Franchise.
-In 1922 the company was granted a 20
The Ironton Electric Co.stock
-year franchise by he
179,500
179,500
179,500 Town Highway Commission. V. 114, p.
1062.
1st Mortgage 6s
122,000
5,000
4,000
In Jan. 1921 the company was authorized by the Illinois
Jersey Central Traction Co. preferred__ _ 600,000
93,600
28,080 Issue $1_,350,000 pref. stock and $5,000_,000 bonds and to P. U.Comm.to
purchase the
Common
531,400
531,400
265.060 cago & Des Plaines Valley Elec. By. V. 112, p. 161. The property ChiJohnstown Traction Co. preferred
of that
1,000,000
504,400
504.400 company was acquired as of June 30 1921 and has been merged
into the co.
Common
8,000
5,145
Lynchburg Traction & Light Co.stock-- 750,000
STOCK AND BONDS- Date.
Interest. Outstnnomo. Maturity.
750,000
751,123
Consolidated Mortgage 55
1,124,000 1,082,000
$2,300,000
901,287 Corn stock $2,300,000($100)Monmouth Lighting Co. stock
305.000
305,000
1,350,000
305,000 Preferred stock
National Gas,E.L.& P.Co.stock
1,403,800 1,381,400
1.600,000 May 1 1931
969,137 .:hicago & Joliet Electric Ry1 1901 6 g M-N
Series B 6s
1,589,300
e. 55.000,000 (*1.000) c*tfInt.at Illinois Tr.& Say. Bk., Chic., Trustee
166,900
125.175
Ohio Valley Elec. Ry. Co.stock
2,000,000 1,979.080 2,128.078 toilet RR general mtge. gold 1898
5 g M-N
400,000 Apr 30 '23
Peoples Railway Co.of Dayton,0.,stock 2,500,000 2.500,000 2,734,228
$400.000 ($1,000 each)__tf Fidelity Trust Co.. Portland (Me.) Trustee.
,
Peakland Corporation stock
Bonds.
-Of the new $5,000,000 mortgage. $400.000 are reserved to retire
50,000
50.000
50,000
Roanoke Traction & Light Co.stock_ _ _ _ 1,000,000
975,000
781,123 inderlying liens. $2,200.000 of the outstanding capital stock of the MiScranton Railway Co. stock
2,000,000 1,999,350 2,005,200 ngo & Joliet Electric Ry. $1.000,000 of the $1,100.000 stock and $1.000.General Mortgage 7s
1,000.000
Chicago & Desplaines Valley Electric Ry. are
103,000
103,000 300 (entire issue) bonds of
First & Ref. 5s
2,800,000
285,000
213,750 ieposited under this mortgage as collateral security. Entire issue of the
Springfield Railway Co.,0. preferred.... _ 500,000
500.000
500,000 12.000,000 gold 5s may be called at 105 and int. The 8400.000 Joliet RR.
Common
1,000,000
39,959 tee. mtge. 5s originally fell due in 1918. but were extended for 5 years.
994,400
First Mortgage 5s
1,495.800
356,000
280,050 V. 106. p. 1343.
Wilmington & Phila. Trac. Co. stock__ _ 4,060,000 4,060,000 4,060,580
EARNINGS.
-For year ending Dec. 31 1921, gross, $952,919; net, after
First Collateral Trust 5s
4,124,000 2,580,000 1,814,910 taxes. $77,145; fixed charges, $250,777: bal.,
• $173,631.
Wilmington & Chester Tr. Co. coll. tr. 6s
ROAD.-Extendsfrom Joliet to the Chicago city limits, with a branch to
489,000
def.
489,000
Wilmington Light & Pow. Co. let M.55 1,900,000
127,000
95,250 Lyons. Has 85.23 miles of track. Line between Joliet and Chicago was
Wilmington Southern Tr. Co. 1st M.5s
148,000
111,000 formally opened Sept. 25 1991. 82 passenger and 18 other vars.-V. 111,
Lynchburg Water Pr. Co. 1st M. 5s_ _- - 416,000
6.000
5.690 p.692; V. 112, p. 161; V. 113, p. 70, 2503; V. 114, p. 1062.
Niles Gas Light Co. 1st M 6s
158,000
33,000
26,400
kiI) People's 1411WILY (Dayton).
-A trolley road.
Quincy G. E. & Htg. Co. cons. M. 5s...11,400,000
2,000
1,690
Acquired in 1899 by the American Railways Co.
•
?Come G. E. L. & P. Co. 1st M.5s
400,000
145,000
116,000
ORGANIZATION.
-Incorporated in Ohio June 18 1896. Comprises 31
titles of track in Dayton. Ohio; operates 99 cars. The American Railway.
Total book value
$27,475,125 Go. owns entire capital stock. In June 1908 authorized amount of stock
REPORT.
-For fiscal period:
was increased from 81.100.000 to $2,500.000.
Years ending Dec.31- 1921.
1920.
1919.
1918.
STOCK AND BONDS- Date.
Interest. Outstanding. Maturity.
Gross income, all sources $1,964,499 $1,719,347 $1,795,436 $1.321,563
itock. $2,500,000 ($100)
*2.500.000
Interest, taxes, &c
1,400,416
1,244,494
1,171,117
1,102,097 First mtge "White Line." 1895 5 g A-0
32:
000 Oct 1 1923
M
$300,000 ($500) gold. red Interest at Union Savings Bank & Trust Co..
Net income
$564,083
$484,853
$624,319
$292,466
Oct 1 1900 at 110
Cincinnati. Trustee.
ntf
Common dividends
(334)331,101
none
First mtge "People's Ry" 1897 5 g_J-J
200.000 Jan 1 1927
Preferred dividend (7%)
x105,000
280,000
280,000
$200.
at 110 ($500), gold. red Interest at Union Savings Bank & Trust 00..
000
Cincinnati. Trustee.
ntf
Surplus
$564,083
$369,853
$13,219
$12,466
EARNINGS.
-Year ending Dec. 31 1921, gross, $716.567; net, after
x Div. paid to May 15 1920.
taxes, $69,705; fixed charges, $41,460; bal.,.sur., $28,245.
COMBINED EARNINGS OF CONTROLLED COMPANIES.
OFFICERS.
-Pros., John A. McMahon. Dayton: V .-Ps., H. J. Crowley
Calendar Year1921.
1920.
1919.
Operating revenues
$18,829.888 $18,836,225 816,312.231 and C. L R Tingley, Phlla.•. Sec. & Treas., Walter W. Perkins Plies,
Operating expenses & depreciation_ _ _$13,293,818 $13,951.112 $11,240,406 Asst. Sec.-Treas. & Compt. Frank J. Pryor Jr.; Gen. Mgr., W.E. Boileau.
Taxes
'
904,463
708,520
744,808 -V.86, p. 1530; V. 97, p. 176.
(6) Springfield (Ohio) Railway.
Operating income
-Trolley.
84,631.607 $4,176,593 $4,327,016
ORGANIZATION.
-Incorporated in Ohio Oct. 20 1892; 9.944 shares of
Non-operating income
106,660
116,196
38.254 the common stock and 5.000 shares of the pref. stock have been acquired
Gross income
$4,738.268 $4,292.789 $4,385,270 by the American Railways Co. For details of franchise under which co
Interest, rentals, &c
$2,681,032 $2,615.878 $2,596.674 operates see this publication of April 24 1920.
Sinking fund
60,668
55,565
53,764
Fare Increase.
-In Oct. 1920 the co. was auth. to raise fares from 6 to
Net income
$1,996,567 $1,621,346 $1,714,831 7 cents. V. 111, p 1754.
DIVIDENDS.
STOCK AND BONDS- Date.
-Quarterly dividends of 134% each on pref. stock were
Interest. Outstanding. Malin*.
begun in Feb. 1913 and paid regularly to and, Incl. May 1920.
$1,000,000
1920 Common (par $100)
div. deferred pending completion of financing plan given under "National Preferred $500.000
6%
500.000
Properties Co."above. None since. First div.on corn.stock, 1%.Dec.1900. First mtge $5,000,000 ($100,1 1914 5 g M-S
1.495,800 See text
In 1901 paid 1% each in Mar. June and Sept.* In Dec. paid
$500 & $1.000) g 8 f_ _c*nttlInt. at Real Est. T.& I. Tr. Co.. Phila., Tr
In
Bonds.
-$400.000 of the above outstanding bonds provided for by serial
1902 paid 134% each in Mar..'June and Sept.; 'in Dec. 1902 div. was in
creased to 134%. which rate was continued up to and Including Sept. 1914
maturity, I.
$12,500 due Sept. 1 1914 to 1923 incl.. $25,000 due Sept. 1
In Dec. 1914 rate was reduced to 134% (V. 99, 9. 1450). In 1915 March. 1924 to 1934, the remaining bonds ($4,600.000) due Sept. 1 1935.
e.'
-When more than $1,250.000 bonds outstanding, sinking
Sinking Fund.
134%; June. 134%; in Sept. 1915 rate was further reduced to 1% (V. 101.
D. 526); Dec., 1%. In Jan. 1916 dividend periods were changed to Junf fund of 1% to 1923 and 2% thereafter of bonds outstanding over and above
and Dec. 1915. V. 102. p. 436. In 1916 and 1917. 4%. June 1918 divi- the $1.250.000 of original Issue. The escrow bonds ($3.756,009) reserved
dend passed. V. 106. p. 2227. 2343. None to June 1919. when 134% for extensions, betterments. &c.. at 80% of cost. Redeemable any interest
was joald. In Dec. 1919. 1% %. None since. V. 110. p.2386
date at 102 and interest. V. 98, p. 1609.
ROAD.
-Total track about 435 miles; about 789 cars. See also WIlming
ROAD --Owns 39 ranee of track Operates 82 Passenger ears.
ton & Phila. Trac. Co. below. Also owns about 316 acres of land for parks
EARNINGS.
-For year ending Dec. 311921, gross, $614,430; net, after
in Altoona, Springfield, Joliet and Lynchburg.
taxes. $39,068; fixed charges, $117,744; bal.. def., $78,676.
OFFIOERS.-Pres.. Paul O. Martin; V.
-Ps.. H. J. Crowley and 0.L.S.
OFFICERS of The American Bys. Co.; Pres., Van Horn Ely. V.
-Ps.
Tingley; See. & Treas., W. W.Perkins; Asst. Treas. & Comp., H. D. AnJohn Gribbe!, 0. L. S. Tingley; Sec. & Treas., Walter W. Perkins; Asst
•
Sec., Asst. Treas.& Comp.,Frank J. Pryor Jr.; Asst. Treas.& Asst. Comp., derson; Gen. Mgr., P. E. O'Brien.
-V. 111, P. 1754; V. 115, p. 1839.
H. D. Anderson; Asst.'freas., H. P. Carr; Gen. Counsel, H. B. Gill; Gen.
(7) Altoona & Logan Valley Electric Rallway.-Trolley.
Mgr., H. J. Crowley. General offices, Witherspoon Bldg., 1321 Walnut
ORGANIZATION.
-Incorporated in Pennsylvania Aug. 5 1903. owns
St. Phila.-V. 111, p. 790, 1082, 1182, 1277, 1369, 1948; V. 112.
1023, the entire $65,000 stock of the Lakemont Park Co.. also $58.000 of the
1517, 1739, 2817; V. 114, p. 946, 1061, 1405, 2715; V. 115,
'
182.
159.000 stock of the Home Electric Light & Steam Heating Co. of Tyrone
-Trolley.
(1) Bridgeton & Miliville Traction.
(into which the Blair Electric Co. incorporated In 1908 to do a lighting busi-Chartered in New Jersey as successor May 3 189; ness, having perpetual franchise and 10-year contract to light town of BellORGANIZATION.
wood, was merged in 1910-11) and leases that company for 99 years from
10 the South Jersey Traction Co., sold In foreclosure. Company owns t..vi
July 1 1903; $54.000 of this stock is deposited as additional security for
toll roads besides the trolley road. Franchise Is perpetual.
In Nov. 1917 the New Jersey P. U. Comm. approved the action of the the consolidated mortgage. In Aug. 1903 absorbed by consolidation the
comnany in abandoning the special rate of 6 tickets for 25c. and 50 for $2 City Passenger Ry. and the Tyrone Electric Ry. (previously owned) and
On April 29 1919 the company was authorized by the N. J. P. U. Comm. to Increased its capital sotck from 2500,000 to $1.500.000. V. 77, p. 1745.
increase fares in each zone from 5 cents to 6 cents and also to raise the rates En 1912 acquired the Logan Light & Pow. Co. of Tyrone, and operates same
for freight service. An increase in the rate for school tickets was not per- In conjunction with the Home Elec. Lt. & Steam Ms. Co. V. 94. ro. 696.
The American Railways Co. owns entire stock Altoona & Logan Valley
mitted. V. 108, p. 1822. In June 1921 the N. J. P. U. Comm. denied the
-cent fare. However, increases from 6 to 7 cents Electric Ry. and $454,000 consolidated mortgage bonds.
co.'s petition for a 10
In Aug. 1920 was auth. to increase fares from 6 to 7 cents.
between Bridgeton and Millville and Bridgeton and Newport and to 8 cents
on the Bridgeton-Port Morris line were authorized. V. 112. p. 2535.
STOOK AND BONDS- Dale.
Interest. Outstanding. Last iv.,:le.
tdtex
Offer to Bondholders.
-In March 1922 holders of the co.'s 1st mtge. 55 due Stock $1.500.000 (1150)---- in 1930 were offered in exchange by the American Rys. Co. par and int. In Consol mtge S4,000.000 gold{ 1903 434 g F
-A15 3.807.000 Aug 15 1933
Electric Co. of N.J. 1st mtge. 5s due Mar. 1 1947 or one-half in Bridgeton
($500 and $1.000) guar by Interest at Equitable Trust Co.. Philadel.
Electric Co. 1st mtge. 5s due in 1930 and one-half in the Electric Co. of
American Rys Co_ __c&r.tf
Phis. Trustee.
er... 1st mtge. 5s due 1947 at par and int. See V. 114. p. 1405.for details.
Remaining $193.000 bonds are reserved for extensions. These bonds are
In Oct. 1922 we were informed that approximately $441,000 had been ex- guaranteed, p.& l.. by endorsement by American Railways Co. No
sinking
changed under this offer.
fund and not subject to call.




Aug.

%.

p.

p.

OcT., 1922.]

ELECTRIC RAILWAYS

105

Interest. Outstanding. Maturity.
Date.
STOCK AND BONDS—
in 1897-98,
$1.000.000
Dividends.—In 1896 paid 254%; In 1896-97, 234%;in 1902-03, 1898-99
stock, $2.000,000 ($100)---10%; it
10%;
2,169,000 Aug 1 1958
5 g F-A
1899-00, none; in 1900-01. 634%; in 1901-02. In 1906-07. 5%;in 1907-08
First mortgage and coliaterall 1908
1905-06,6%;
1903-04, 55i, %:in 1904-05, 5.7%;
trust $3,000,000 ($1.000) Int. at Moran & Co., Phila., or Baltimore
%
in 1910-11, 1 1-3%; in 1911-12.1.43
Trust Co., Baltimore, Trust.
1U%;in 1908-09 and 1909-10, none;For 6 mos. ending Dec. 31 1914. 2.5%
c•ntf
gold
of bonds of
in 1912-13, 2.5%;in 1913-14. 5%
Bonds.—$750,000 bonds are reserved to retire a like amount
In 1915, 4.35%. In 1916, 6%; 1917, 8%; 1918. 8%; 1919, 9%; 1920, 9%• the Roanoke Ry. & Elec. Co. Bonds are subject to call on any int. day at
1921, 7%.
1% of outstanding bonds, payable Feb. 1
105 and int. Sinking fund of
EARNINGS.—For year ending Dec.311921, gross,$1,150,978; net, after 1919 to 1928; 134% thereafter.—V. 113, p. 294; V 115, p. 309.
taxes, $296,546; fixed charges, $189,965; bal., sur., $106,580.
la) Roanoke Railway Se Electric Co-of track, connecting Altoona. Bellwood
ROAD.—Operates 54 miles
ORGANIZATION.—The Roanoke Street Ry. and the Roanoke Electric
Hollidaysburg and Tyrone. (lenge, 5 ft. 3 in. Operates 124 cars.
were both sold at foreclosure Aug. 1 1899. Th2 present
and 0. L. S. Light & Power
-Ps., H. J. Crowley
OFFICERS.—Pres. Van Horn Ely; V.
mmpany was incorporated in Virginia. Franchises expire in 1935 Lied some
& Treas., Walter W. Perkins; Asst. Sec.-Treas. & Compt., oerpetual. Does all lighting and railway business in and about Roanoke,
Tingley; Sec.
V. 80, p. 649, Salem and Vinton. Owns 250 shares of Roanoke Trac. & Light Co. stock.
Frank J. Pryor Jr.; Gen. Mgr., 5.8. Crane.—V. 79, p. 680;
112, p. 1976.
Interest. Outstanding. Maturity.
Date.
710, 2456, 2619; V. 82, p. 333, 391, 803; V. 94, p. 699; V.
STOCK AND BONDS—
See text
$500.000
J-D
Stock,$500.000 ($100)(8) Scranton Railway.—A trolley road. the stock.
56.000 Dec. 1 1949
5 g J-D
8
0, First mortgage, $300,00- - g 1- 66
American Railways owns practically all of
Jan. 1 1897 assumed all the assets and liabilities
Mercantile Tr. & Dep. Co.. Balt., Tr.
ORGANIZATION.—On
($1.000) sinking fund__ ntf Int. at
As as
586,000 Feb. 1 1953
V. 63, p. 1064; V. 64. p.
5 g F-A
First consolidated mortgage. 1903
of the Scranton Traction Co., &c. 21 companies. Operates, 85.
practicallo
present coustituted, is a merger of
1750.000 ($1.000) g s f_c*tf Int. at Real Estate Trust Co.. Phila., Trustee
Valley from Forest City, in Su.
without competition, in the Lackawanna
Bonds.—Sufficient consol, bonds are reserved to retire 1st mtge. bonds.
quehanna County, to Pittston, in Luzerne County, serving, among others
Sinking Fund was 1% of outstanding bonds annually payable Feb. 1 to
of Arch
the cities of Scranton. Pittston and Carbondale. and the boroughs
1920. now 134%.
Old
bold, Blakely, Dickson City, Dunmore, Jermyn, Mayfield, Moosic,
Dividends.—In 1904. 334%; in 1905. 534%; in 1906. 8%; in 1907. 6%•
Forge, Taylor, Throop, Vandling, Avoca, Duryea, Forest City.
none to 1910, when 3% was paid; in 1911, 5 3-5%; in 1912. 6.7%; in 1913'
Franchises perpetual.
;i%; 1918,
5 12%; in 1914, 12.02%; in 1915. 7.4%; in 1916, 5%; 1917, 7.
the Penn. P. 8
Fare Increase.—In Sept. 1918 filed a new tariff with
8%; 1919, 10%; 1920, 13.70%; 1921, 11A%.
cents to 8 cents in all
Comm. calling for an increase from 6 P. S. Comm. ordered zones. V. 107
ZARNINGS.--For year ending Dec. 31 1921, gross, $1,293,503; net,
the company te
Penn.
p. 1005. On April 23 1919 the
after taxes, $448,591; fixed charges, $377,842; bal., stir., $70,749.
V. 110
reduce its fares to 7 cents, tickets to be sold at 4 for 25 cents. See
1920 the Penna. P. S. Comm. refused to
ROAD.—Operates in Roanoke; also extensions to Salem and Vinton,
p. 2293; V. 111, p. 74. In June competition with the co.'s lines. V. 110
Va.; total. 29.85 miles of track. About 41 passenger cars, 4 other cars,
permit the operation of buses in
S. Comm.
SO. 60 and 72-1b. rail. Also owns park and theatre.—V. 90. p. 168.
2488. In April 1921 filed notice with the P. to 8 cents that, effective
D.
per zone, or 4
May 22 1921, fares would be advanced from 7
(11) Ohio Valley Electric Railway Co.—A trolley road. V.
tickets for 30 cents. V. 112, p. 1867, 2085.
In 1911 acquired by the American Itallways.—V. 92, p.1437; 93.p.470.
629.
Valuation.—See V. 111. p. 1862; also V. 112, p. 1867; V. 113, p. 5 year/.
due Nov. 11920, were extended for
ORGANIZATION.—Incorporated in West Virginia In 1899. Franchtses
The $1,000,000 gen. mtge. 5s,
thus
$1,000 bond,
run until 1957 is W. Va.; in Ky. and Ohio in Dec. 1916 ran for nearly the
at 7% and in addition holders were paid $50 in cash perextension. V. 111
full term allowed by statute, 20 and 25 years, respectively. In Febnetting the holder approximately 8% for the period of
ruary 1908 name wis changed from Camden Inter-State Railway to the
p. 1662.
Interest. Outstanding. Maturth
Ohio Valley Electric R tilway. Owned entire stocks of Consolidated
STOCK AND BONDS-- Date.
$2,000.000
Light, Heat & Power Co., Ashland Elec. Lt. & Pow. Co. (now Boyd
Stock ($50)
Feb 1 1947
2,800,000
5 F-A
County Electric Co.) and Ironton Elec. Co., but at time of acquisition
Scranton By lst&ref M $15,- 1917
oy Amer. Rye. these were turned over to latter company. On May 1 1908
„c*rtf ,Int. at March. Un. Tr. Co., Phila., trustee
000,000 g ($1,000)
1.000,000 Nov 1 1932 sciuired the $500.000 stock of Kanawha Valley Traction Co., which has
Scran Trac 1st M $1.000,000 1892 6 g M-N Union Trust Co.. Phila.
Charleston (W. Va.) Interurban RR. (see page 25) for
($1.000) gold no opt_ _c*tf ,Int. at Merchants' 1,100,000 Nov 1 1932 leen leasedato the beginning with $10,000 per annum in 1910 and increasing
19 years at rental
5 g J4
Scranton By mtge $3,500,000 1897
N. Y. City. Trustee
..c) $20,000 in 1916 and thereafter until the expiration of the lease. Also
c*tf New York Trust Co..
gold ($1,000)
1,000.000 Nov 1'1925 awns entire stocks of the Ashland & Catlettsburg St. Ry. and Ashland In7 M-N
Scranton By gen mtge $1.- 1910 Equitable Trust Co., Phila., Truster
at
terurban Ry
000,000 gold ($1.000)___tt Int.
150,000 Jan 1 1923
6 g J-J
Ordinance Restricting Operation of Jitneys.—V. 108. p. 2123.
Scranton & Carb'd let mtge 1893 American Rye. Co., Phila. Lack.
Int. at
Fare Increase.—On Aug. 13 1920 the City Council of Ironton passed a
$1,000,000 g ($1,000)-c*tt
that
D. Co.. Scranton, Trustee.
T. & S.
aew franchise, over the Mayor's veto, auth. the co. to raise fares in
Free of State tax.
295.500 Oct 1 192
6g
8cran & Pitts M $525.000 g 1893 UnionA-0
lty to 6 cents. V. 111, p. 1084. On Nov. 8 1920 the company was auth.
Trust, Trustee, Phila. Nos. 1
Int. at
on its Huntington lines from
($1,000 and $500)___c•ntf
by the W. Va. P. S. Comm. to raise the fare
to 400 $1,000 each & Nos. 401 to 650.3500
Guar. by Scranton Trust__
150.000 July I 1912 5 cents to 6 cents. V. 111, p. 1950. Interest. Outstanding. Maturity.
6 g .14
Date,
STOCK AND BONDS—
1st M. Carbondale Traction 1892
See text
Interest at Central Trust Co., New York, Common $2,000,000 ($100)--- ---$2,000,000
Co. c*&r, $150.000, gold
See text
Trustee.
345,800
J-J
_
Pref 6% cum $400.000 ($100)_
($500 and $1,000)
800,000 Jan. 1 1933
5 J-J
1.771.000 Dec 1 1946
5 g J-D
1916
mtge gold 1910
Carbondale By gen
1st M $2.200,000 gold guar(
Co., Phila., Truster
c*tf I Penn. Co. for Ins. on L. & G. A.. Phil.,trust.
$800.000 guar p & L_ _ctf Provident Life & Trust of 1897, $1.400.000
($1,000)
Bonds.—Of the $3,500,000 Scranton By. mortgage 5s
Bonds.—The outstanding bonds were issued to take up $1.350,000 Camprior bonds at maturity. The Scranton & Pittston len Inter-State Ry. 5s due Mar. 1 1921; $175.000 Hunt. & Charleston 5.
are reserved to retire
Ry. gen. M. bonds
bonds are guaranteed by the Scranton By. Scrantonand int. Originally due 1936; $100,000 Cons. Lt. & Rye. 6s due 1922. and $50.000 Ashland &
of 1910 are subject to call at any int. period at 102 extended for 5 years Catlettsburg 6s due 1919. Remaining $429,000 are for exts. and betterbore int. at 5% but were
matured Nov. 1 1920 and
ments under restrictions. Red. since Dec. 1 1921 at 10234 and int. Penn.
at 7%. V. 111. p. 1662.
State tax refunded. Guar., p. & 1., by end. by Am. Rye. Co. V. 103, p.
mortgage of Carbondale Traction has a sinking fund of $2,500 per 23Div
First
.
42
called. The
annum after July 1 1895, but bonds cannot be for 20 years. bonds
idends.—Seml-annual dive. (J-J.) of 3% were paid on pref. from
V. 115,
originally matured July 1 1922 but were extended
1908 to 1917. incl. On common, 1910, 3% '• 1911. 2% .• 1912,6% •. In 1913:
Carbondale By. mtge. for 1910 is unconditionally guar., p. & i.. 3.9%; in 1914, 2.9%; in 1915, 4%; in 1916, 6%; 1917, 7%; 1918, 634%;
p. 74.
int. date at 105 & int. V.93, p.1785.
by Scranton By. Subj. to call on any
6%; 1920, 8%; 1921, 634.
1919, 8 ,
The let & ref. 5s of 1917 are callable after 1922 at 102A and int. Guar,
EARNINGS.—For year ending Dec. 311921, gross, $917,897; net, after
to?
$4,896,000 are
bal., sur., $153,109.
p. & I., by endorsement. by Amer. Rye. Co. under certain reserved
restrictions. taxes, $261,264; fixed charges, $108,155;
underlying bonds and $7,604,000 for Impts.
ROAD.—Operates 4e.3 miles of track in and between Huntington and
V. 104. p. 1703.
Kenova, W. Va., Catlettsburg and Ashland. Ky., and Ironton. Ohio.
dividends varying from $125,000, the mini
Dividends.—Since 19013 paid
Operates 56 pass. cars. 17 other cars.—V. 111, p. 693. 1084. 1950
mum. to $263,000, the latter amount in 1914: $175.000 was paid in 1915
and $195,000 in 1916. In 1917, 5%; 1918. none; 1919, 6%; 1920. none
(12) Electric Co. of New Jersey.
1921, 3%%.
ORGANIZATION.—A merger July 5 1016 of a number of electric light
ROAD.—Owns and operates all the street roads in and around city of cots. In Gloucester, Salem and Cumberland counties, N. J., along the DelaScranton, aggregating 90 miles. Operates 206 cars.
ware River opposite Wilmington, Del., and Chester, Pa. Supplies electric
power In municipalities of Salem,
EARNINGS.—For year ending Dec. 31 1921, gross, $2,437,089; net, current for electric light and Pitman, Glassboro. WilliamstownPennsgrove,
, Paulsboro
Woodstown, Mullica Hill.
after taxes, $585,338; fixed charges, $458,490; bal., sur., $126,847.
Clementon, Laurel Springs, Berlin, Elmer, Clayton, Quinton, Swedesboro,
-Ps., Henry J. Crowley and C. L.
OFFICERS.—Pres., Van Horn Ely; V.
Pedricktown, Pennsville, Harrisonville, Mickleton, Clarkesboro. WeWalter W. Perkins; Asst. Sec.-Treas. & Compt. nonah, Bridgeton, Port Norris and many other smaller places. On May 1
S. Tingley; Sec. & Treas.,
Prank J. Pryor, Jr.; Gen. Mgr., Jilson J. Coleman.—V. 110, p. 2293, 2488; 1919 the Bridgeton Electric Co. was merged into the Electric 0o. of New
V. 111, p. 74, 295, 1662; V. 112, p. 1867, 2085; V. 113, p. 629; V. 115, p. 74. Jersey, which assumed the $250,000 1st Mtge.5% bonds of the former company. The American Rys. Co.owns the entire outstanding stock and bands.
(9) Lynchburg Traction & Light Co.—Trolley.
Bonds offered in exchange for 1st Mtge. 5s of Bridgeton & Millville
In 1910 American Railways acquired control. V. 90, p. 167, 235.
ON.—Incorporated in Virginia, and is a consolidation on Trac. Co., see under that co. In V. 114, p. 1405.
ORGANIZATI
Light, the Lynchburg &
Interest. Outstanding. Maturity.
Date.
STOCK AND BONDS—
May 1 1901 of the Lynchburg Electric Railway &
$257.500
Rivermont Street Railway (franchise perpetual) and the Lynchburg Gas Common stock $475,00090,000
the street railways, gas works and electric-light Preferred
Co., and comprises all
959,000 Mar 1 1947
5 g M-S
plants of Lynchburg and hydraulic power development at Reusems. Va.; First mtge $5,000.000 goldl 1917
c*Str.tf ant. at Comm'l Trust Co., Phila., trustee.
stock of the Lynchburg Water Power Co..and has assumed
($1.000)
also owns all the
61,)00 July 1 1930
Bridget-on Elec. Co 1st Mtge__ 1e00 5 J-J
the 13500,000 1st mtge. 5% bonds of that company.
American Railways owns entire capital stock and $750,000 of Lynchburg —V. 103, p. 937; V. 104, p. 1390, 1493.
bonds.
Trite. & Lt. consol. mtge.
N & PHILADELPHIA TRACTION CO.—Controlled
Rate Increases.—In June 1918 announced an increase in its gas rate from
cents for prompt pay- byWILMINGTO Railways Co.
refund of
the American
$1 10 to $1 30 per 1,000 Cu. ft. with a advanced. 10 106. p. 2757.
V.
ORGANIZATION.—Incorp. In Dela. June 27 1910. Owns all stock of
ment. Electric power rates were also
Valuation.—For details of valuation by A. L. Drum & Co., engineers, Southern Penn. Trac. Co., Chester & Eddystone St. Ry. and Mira. Lt. &
Chicago, placing reproduction cost at $4,252,876 as of Feb. 1 1921, see Pow. Co. On June 1 1915 acquired control of People's Pty. of Wilmington.
V. 112,p. 2191.
Del. (stock. $1,500,000), and in Oct. 1915 purchased the Wilmington
Decision Regarding Valuation.—See V. 113, p. 1773.
9outhern Trac. Co. and the Wilm. New Castle & Delaware City Ry., and
(Stock. $600,000).
Interest. Outstanding. Maturity consolidated them under the name of the latter. By.. Wilm. & Edge
Date.
STOCK AND BONDS—
See text
Leasesfor 990 years from July 1 1910 the Wihn. City
$750.000
J-D
Stock, $1,000,000 ($50) ____
Gordon Heights Ry. Front & Union St. Ry. and Wilm.
1 1931
moor Elec. thy,,
72.1.000 May
5 g M-N
First mtge $1,000,000 sink fd 1901
at a minimum annual rental
c•ntf Real Estate Trust Co.. Philadelphia. Trustee City Elec. and New Castle County Elec. Co. years.
($1,000) gold
of $79.010. to a maximum of 1120.610 in 15
1931
1.153.000
5%
Lynchb Trac & Lt con mtge 1911
was auth. to Increase fares from 5 to
Fare Increase.—On Juno 5 1918
ntf Real Est. Title Ins. & Ti'. Co.. Phila., Trust
$1,750,000
1930
111.000
6 cents. Effective Aug. 17 1920 was auth. to raise fares to 8 cents cash
5 M-S
Lynchburg Gas Co first mort- 1900
with 4 tickets for 30 cents. V. 111, p. 897.
tf Int. at Real Estate Trust Co., Phila.. Trust
gage $250,000
Maturity.
41C.000 July1 1932
5
Interest. Outstanding.
Date.
Lynchburg Water I'ower first 1902
STOOK AND BONDS-$4.060.000
mortgage $500,000____ntf Real Estate Trust Co., Philadelphia. Trustee Cornnoon stock
500.000
Bonds.—Of the 1st mtge. bonds, 3111,000 are reserved to retire bonds of Preferred stock
4,164.000
F-A
like amount of Lynchburg Gas Co. due 1930. and of which no more are to be Wil. & Phila. Trac. 1st mtge),
issued. Sinking fund of 1% per annum became operative in 1906. which
& coil trust $25,000,000__ f Equitable Trust Co., N. 1., trustee.1 1965
1.650.000 June
5 g J-D
0 1915
was increased in 1916 to 134 %. Entire issue can be called at any time.
People's Ry 1st M 13.000.00
c• Int. at Fidelity Trust Co.. Phila., Trustee
gold ($1,000) guar
Dividends.—In 1904, July, 1%; Nov.. 1%; in 1905. 2%; in 1906. 23%
231.000 Oct 1 1965
5 g A-0
1911, 6%; In 1012
Wilm. So. Trac. let M gold 1915
in 1907, 3%;in 1908. 5%:in 1909. 5%;in 1910. 3%; in in
1916, 8%; 1917.
$300.000 ($1,000) guar.__ Int. at Wilmington (Del.) Trust Co., trustee
8 7; in 1913. 9.339%; in 1914, 12.12%; in 1915. 8.8%;
Jan 1 1966
None
5 g J-J
WNC&DC 1st M $2.000- 1915
67o; 1918, 10%; 1919, 16.66%; 1920, 13.50%; 1921, 5.4%.
Say. Tr. Co Phila., trustee
000 g ($1,000) guar_ _c•tf
EARNINGS.—For year ending Dec. 311921, gross, $899,051; net, after Chester & Eddystone let M Int. at Fairm.
53.000 Sept 1 1946
5 g M-S
1916
$148,638; balance, surplus, $51,930.
taxes, $200,568; fixed charges,
suburbs,
gold $100.00(1 41.000) gu Int. at Phila. Trust Co.. Phila., trustee.
ROAD.—Owns and operates 18 miles of track in city andpass. cars
1,900,000
5 A-0
Wil. Lt. & Power 1st mtgel ____
gauge. Operates 39
60 to 100-1b. '1' and girder rails. Standard
(Wilmington (Del.) Trust Co., trustee.
$2,000,000
Park.
3 other; I sweeper. Owns Itivermont V.
guar. p &I by the Wiim. & Phila. Trac. Co.
four
OFFICERS.—Pres.. Van Horn Ely; -Ps.. C. L. S. Tingley and H J. Remaining People's issues are Wilm. So. Trac. bonds reserved for impte. at
By. and
Crowley; Sec. & Treas., W. W. Perkins; Asst. Sec.-Treas. & Compt.. 85% of cost. People's Ry. bonds are red. on any int. date at 105. $300.Frank J. Pryor Jr.—V. 114, p. 1063, 2359.
000 Wilm. N.C.& C. D. bonds are reserved for toe Wilm. So. Trac. oonds;
holding company.
remainder may be issued for exts. and irnpts. at 85% of cost. Red. ac 102
(10) Roanoke Traction & Light Co.—A
day.
ORGANIZATION.—Incorporated in Virginia July 28 1908. Owns the on any Int.&c.
--Comprises street railway lines in Wilmington, New Castle
ROAD.
Power Co.. the Bedford Power Co., the James River Water
Roanoke Water
St Power Co., and controls, through and Delaware City. Del., and Chester and Media Pa., and Interurban lines
Power Co. and the Roanoke Heat, Light
these places with each other and with Philadelphia, a total of
ownership of all the capital stock, the Roanoke Railway & Electric Co. The connecting of track, Also does electric light and power business in Wil140 miles
bought
Roanoke Water Power Co. had $350,000 bonds which wereCo. had In and mington New Castle, Delaware City, Newark and vicinity in Delaware.
issued
& Power
mortgage satisfied. The Roanoke Heat. Light
the southeastern part. of Delaware County, Pa., and Elkton. Chesapeake
1089,
1250,000 bowls, all of which have been retired (V. 87, p.stock. 1160).
City and vicinity, in Maryland.
The Arnim Rye. Co. owns $975,000 of the $1,000.000




106

ELECTRIC RAILWAYS

[Vol,. 115.

EARNINGS.
-Including Southern Pennsylvania Traction Co.:
Bonds.
-Can be called at any time at 105 and int.; no sink fd. The
Calendar Years- Gross Earns.
Net Barns Clip. & Tax.
Balance
maining Phila. & Gar. bonds are reserved for future requirements: re1921
red.
$3,683,562 $1,582,277 $1,112.241 sur.$470,036 at 105 and int. on any int. day.
1920
3,212,369
829,945
854,037 def.24,092
OFFICERS.-Pres., Van Horn Ely, Phila.; Vice-Pres. & Gen. Mgr.,
REPORT.
-Year ending Dec. 31:
T. W. Wilson, Wilmington; Sec. & Treas., H. D. Anderson, Phila.; Aud., Dec. 31.
Gross
Net
interest,
Surplus
C. E. Yost, Wilmington.
-V. 111, p. 897, 1185, 1371.
YearEarnings. Earnings, On erme. Rentals, eic. for Year.
lthco
1921
(1) Wilmington & Chester Traction.
$879,176
$277:0
2 1 124
8
$10,854
$224,733
e.63,248
1920
United Power & Trans. Co owns 39.995 out of 40.000 shares of stock
879,64.7
214,407
20,026
86,697
Lease.
-Part of this company's lines are leased to the Wilmington
ROAD.
-Operates 50.56 miles of track from 63d and Market streets
Phila. Trac. Co. and part to the Southern Pennsylvania Trac. Those It Philadelphia,
to West Chester, 26.107 m.; Llanerch to Ardmore, 6.375 m.,
Delaware, viz., Wilm. City By., Gordon Heights Ry.. Front & Union it
By. and Wflm. & Edgem. El. By. are leased to Wilm. & l'hila. Trac. (sec 59th St., Upper Darby, Pa., to Sharon Hill and Media, 18.077 m., of
which
above); those in Penn., viz., Chester Trac. Co. and its subsidiaries are leased T rail. 24.45 m. are leased. Gauge, 5 ft. 2ee in.; 58, 60, 70 and 80-1b.
53 cars.
to Southern Penn. Trac. Co. (see below).
OFFICERS.-Pres., A. Merritt Taylor, Phila.* V.
ORGANIZATION.
-Incorporated March 1898. Has acquired all
-P.,
rreas., C. L. Rihl. Office, Upper Darby, Del. do., Pa. H. H. Aikens;
the stock of the Wilmington City Ry. ($519,930), the Gordon Heights
V. 94, p. 352
V.98, p. 237; V. 106, p.397; V. 107, p. 1193; V.
By. ($51.500), the Front & Union Street By, ($299.930) and the Chester
108, p. 80; V. 113, p. 2313.
Traction Co. ($500.000). all of which are deposited under the collateral
trust mortgages of the Wilmington & Chester Traction Co. Owns $50,000
PHILADELPHIA RAPID TRANSIT.
Incorporated in Pennsylvania on May 1 1902 to take
SU:Ric of the Chester & Delaware Street By.; also owns $150.00() debenture
bonds of Front & Union St. Ry.and $45,000 let M. bonds of Gordon Helga Union Traction Co. for 999 years from July 1 1902, andover under lease the
to acquire and
Railway. The Chester Traction Company holds all the stock of the shares of other corporations. (For terms of lease, see Union Tractionhold
beUnion Railway Company. $100.000; Chester & Media stock. $35,000; Ches- low.) The Rapid Transit Co. acquired numerous
ter Darby & Palle. stock,$65.000; total, $200.000. The Chester Trac. pays obtained by the Mack-Foerderer syndicate in 1901.franchises for new roads
In June 1903 the Market Street Elevated Pass. By.. with $5,600,000 authorized capital stock
as rental (besides int. on bonds) 6% on the $100,000 stock of the Chester &
was
formed to absorb a number of these franchises. V. 76. p. 1301.
Media and on the $100.000 stock of the Chester Darby & Philadelphia.
In June
Fare Increase.
-In June 1918 was auth. by the Del. P. U. Comm. to 1903 the Rapid Transit Co. obtained from the Philadelphia City Councils
other valuable franchises for new lines. In April 1906, however, an
charge a 7
-cent fare in Wilmington, 4 tickets to be sold for 25 cents.
agreeSTOCK AND BONDSDate.
Interest. Outstanding. daturity. ment was entered Into with the city relinquishing nearly all the rights to the
Stock $2,000,000 ($50) full pd_ Listed on Phila. Ex $2,000,000 Dec'12,60cts franchisee of 1901 and 1903 and the whole matter of the company's franchise rights was readjusted on a now basis. See V. 82. p.
Coll trust gold $4.000,000 1898
6 g A-0
2,305,000April 1 1923
Subway has been built in Market St. from 23<1 St. to 693. 870.
($500 and $1,000 each)___c*t Provident Life & Trust Co., Phila., Trustee
Delaware Ave.,
elevatee structure on Market St. west of the Schuy lkill River, and on DelaCollateral trust gold $5,- 1912
536,625 April 1 1952 ware Ave. from Market
5%
St. to South St. V. 74, p. 528, 989; V. 76,
500,000
tf Wilmington Trust Co., Wilmington, Trustee V. 81, p. 265.
In March 1907 began operating on that portion of p. 1301:
Securities of Subsidiary Linesthe elee
need from the Schuylkhl River west to the Upper Darby terminal station,
Wilm City 1st M $600,000 1911
5 M-S
600,000Sept
a distance of
($1,000)
c* ntf Int. at Eq. Guar. & Tr. Co., Wilm., trustee. subway from about 4 miles. V. 84, p. 571. On Aug. 3 1008 the entire
2d St. to
Chester Traction 1st mtge 1891
5 g M-N
250,000 May 1 1944 completing line through23d and Market St. was placed in operation, thus
to 69th St. V. 87, p. 347. On Oct. 6 1908 eleFold $250.000
c*tf Int. at Guar. Tr. & Safe Dep. Co., Phila.
vated lines on Delaware
Wrirning & Edgemoor 1st M 1906
5 g J-D
400.000 June 1 1916 completing entire line. Ave. to South St. Station was placed in operation,
V. 87. p. 936.
$100.000 ($1,000) g
c*tf Int. at Real Est. Title Ins. & Tr.,Phila., Tr.
In July 1902 acquired all the stork of the Doylestown & Willow Grove
Leased to Chester Traction
By. Co. Also owns entire stock (810.000) of the Motor Real Estate Co..
Union Ry Co 1st mtge g-c-tf 1913
5 g J-J
200,000 Jan 1 1943 which owns property costing
$4,000,000.
Chester St By stock ($50)-- -tf
10 .14
150,000 rental 10%
On July 1 1906
Chester & Media El Ry gold tf 1913
5 g J-J
100,000 July 1 1943 dletown Aston & the Phila. Morton & Swarthmore By. and the Media MidChester Elec.
Chester Darby & Phila. gold tf 1913
5 g J-J
125,000 July 1 1913 Media & Chester By. The new By. were consolidated, forming the Darby
company, embracing 25 miles of track, was
The Wilmington & Edgemoor bonds are guar. as to both principal and
thereupon leased to the Phila. Rapid Transit Co. for 999 years, rental being
interest by the Wilmington City Ry.
$8,500 for first year, $17,000 for second and third years, $25,500 for fourth
Interest on Union Ry., Chester Street By., Chester & Media payable year. $34,000 for fifth year and 842.500 for sixth year and thereafter.
at Delaware County Trust Co., Chester, Pa. on Chester Darby & Phila.
Early in 1921 acquired through
By. Co., payable at Continental-Equitable Title & Trust Co., and interest Park. another amusement centre. the Willow Grove Park, the Burd Home
V. 113. p. 417.
upon an the latter guaranteed by Chester Traction Co.
Adjustment of Relations With City.
-On Feb. 18 1907 the board of direcBonds.
-$1.695,000 coll. tr. 5s of 1898 reserved to retire underlying securi- tors accepted the plan
ties and guar. stock. They matured originally in April 1918 and bore int. ciation of Philadelphiasubmitted Jan. 1907 by the Retail Merchants' Assofor a readjustment
at 5%, but were extended for 5 years at 6%. Red. at 101 and int. on any and company. The plan confers upon the of the relations between the city
city the right to
int. date. Are listed on the Phila. Stock Exch. V. 106. p. 1902. 2012. time after June 30 1957 all leases, franchises and property purchase at any
Of the coll. tr. of 1912. $4,000,000 are reserved for like amt. of coll. tr. of at the company's actually paid-in capital, $30,000,000. of the compnny
The city has
1898. Wilm. City bonds are subject to call at 105 and int. V. 93, p. 667. the right to assign or sell this option. Furthermore, a sinking
fund is to be
The Chester Trac. bonds were extended in 1914 for 30 years. V. 98. P
established, to be taken out of the gross receipts of the company, which,
1073, 1158.-V. 98, p. 1074: V. 106, p. 1902, 2012, 2451.
calculated at 4%, will amount to at least $30,000,000 at the expiration of
50 years, to enable the city to acquire the property at that time. Another
(2) Wilmington City Electric Co.
Loase.-Was leased on July 1 1910 for 990 yrs. to the Wilm. & Phila. feature in the arrangement is that, beginning with Jan 1 1007. the city
shares equally in the net profits after stockholders have received lawful
Trac. Co.,the latter assuming all int. & fixed chgs. of Wilm. City Elec. Co.
ORGANIZATION.-Incorp. in Delaware in 1895. Franchise perpetual. Interest on the capital invested by them. All franchises for further surface,
elevated or underground railroads within the city are to be first offered the
Does an electric light and power business in Wilmington.
Phila. Rapid Transit Co. under terms of this contract. The city is
STOCK AND BONDSDate.
Interest. Outstanding.
laturity
have three members on the board of directors. The present rate of also to
Stock
$255,000
not to be changed except with the consent of both parties. As part fare is
First mtge $1,000,000 gold' 1911
of the
5 M-N
1,000,000 May 1 1951
($1,000) guar p & I_ _ _ _c*tf jInt. at U. S. Mtge. & Tr. Co.. N. Y., True. arrangement, the Rapid Transit Co. agreed to call the $12,000,000 then still
Bonds have been redeemable since May 11921. Guar., p. & i., by Wil. & due on its stock at the rate of 83,000,000 every six months, the money to be
used to give Increased and improved service. For further detains of plan,
Phila. Trac.-V. 92, p. 1441; V. 94, p. 567.
see V. 84, p. 451, 1552. An ordinance embodying the above features was
passed by the Phila. City Council on June 20 1907 (V.84, p. 1488) and rati(3) Southern Pennsylvania Traction Co.
ORGANIZATION.
-Incorporated in Penn. In June 1910 with $10,000 fied by the company July 18 1907. On Feb. 27 1911 State Supreme Court
stock, all owned by Wilm. & Phila. Trac. Co. Leases for 990 years from affirmed the decision (V. 89. p. 847) of the Common Pleas Court sustaining
July 1 1910 Chester Trac. Co., Delaware County & Phila. Elec. Ry. and the company's demurrer in a suit brought to test the validity of the foreMedia Glen Riddle & Rockd. E. St. By. Co. at a minimum annual rental going ordinance. V. 92. p. 596. On July 29 1907 directors called for Payment of the final assessment of $15 a share of stock, pay able in two installof $71,990 to a maximum of $106.990 in 15 years. V. 98, p. 1073. 1158.
ments
-$7 50 Sept. 9 1907 and $7 50 Sept. 7 1908. V. 85, p. 284, 1402.
(a) Delaware County & Philadelphia Electric By.
On Feb. 28 1911 shareholders
-On July 1 1910 leased for 990 years to Southern Pennsylvania Union Trac Co.approved a planof both the Phila. Rap. Trans. Co. and the
Lease.
(V.92.0.463) in accordance with the views
Traction Co. at a rental of $40,000 per annum.
of Mr. E. T. Stotesbury, who consented on such conditions to enter the
ORGANIZATION.
-Incorporated May 11 1892. Completed from Phila. Rap. Trans. board, calling for the issue of $10,000.000 s. f. bonds
Media, Pa., to Baltimore Ave., Clifton Eta, in Jan. 1895; connects with running for life of city contract, guar. p. & I. by the Union Trac. Co. and
the Chestnut & Walnut Street cars of the Union Trac. system. In May the secured by pledge of equity in Market St. Elev. Pass. By.(V. 91, p. 1629)
United Power & Transportation Co. acquired the road, paying 8166.66 per over and above present $10.000,000 mtge. on said property. V. 92, p. 596.
share for the stock in Its 4% trust certificates secured by a deposit of stock. On Feb. 29 1912 directors of both the Phila. Rap. Trans. and Union Trac.
Co. authorized the mtge. V. 94, p. 631. As part of the plan, certain
Interest. Outstanding. Maturity. equity owned by
STOCK AND BONDSDate.
Phila. Rapid Trans. Co. was surrendered to Union Trac.
Stock $500,000 authorized
$300,000
See text Co. See V. 91, p. 1161. 1386, 1574, 1630, 1711.
The City Council assented
First mortgage $64,000_ ntf I 1913
5 J-J
61,000 July 1 1943 to the arrangement in May
1911. V. 92, p. 1375, 1500.
ConteEquit. Title & Tr. Co., Phila
'Int. at
Subway and Elevated Lines
let M. bonds matured July 11913. but were extended for 30 years at 5%. Pany.-At an election held to Be Built by the City and Operated by the CornApril 29 1915 the electors voted in favor of
DIVIDENDS.
-Paid in dividends in 1899-1900, $36,000; in 1900-01, a 86.000,000 loan for a Broad Street subway and a Frankford elevated.
$27,000; 1901 to 1908 incl., $21,000 per ann.; in 1909 and 1910. none; in line (V. 100, p. 1511). and on July 1 1915 the ordinances making equal
appropriations for both projects were signed by Mayor Blankenburg.
1911. $21,000; in 1912. July. $15.000; none since.
Construction was begun September 11 1915. V. 101, p. 132, 774, 1371.
ROAD.
-Owns 12 mites of track. Rails. 80-lb. T and girder.
At the election on May 16 1916 it was voted to Issue 857.100,000 bonds
for additional subway and elevated lines, in accordance with the proFAIRMOUNT PARK TRANSIT CO.
gram of former City Director of Transit A. Merritt Taylor, as outlined
ORGANIZATION.-Incorp. In Delaware in Sept. 1916 as successor to In
V.
the Fairmount Park Transportation Co. in accordance with plan of reor- 1916, 102, p. 2342. The Stern bill, rendering valid the election of May 16
was
of Representatives in April 1917.
ganization outlined in this publication of Sept. 29, 1918. The assets of the ,. V. 104. p. passed by the I'enn. House taxpayers' suit
1703. On July 7 1917 the
old co. (for history see "Eiec. Ry. Section" for Sept. 1918) were purchased from proceeding with construction of the new high speed to restrain the city
lines was dismissed
subject to $750.000 1st M. 5s (see below).
by Common Pleas Court No. 4. On July 23 1917 the Pennsylvania P. S.
Interest. Outstanding. Maturity. Comm. granted the Philadelphia city authorities permission to construct
STOCKS AND BONDS- Date.
$400,000
Stock common ($10)
all of the lines contemplated in said program. In June 1018 Govern7%
79,686
Stock preferred ($10)
ment sanction to proceed with the construction of the Frankford elevated
750,000 April 1 1937 system we given with the understanding that the work in connection with
5 A-0
First mortgage $750,000 gold1 1912
Philadelphia, Trustee,
c*ntf f Girard Trust Co..
the Broil Sr subway (with certain exceptions) be stopped as promptly
($1,000)
Bonds.-lst mtge. bonds are callable at 105 and int. on any int day on as possible. V. 106, p. 2451.
Lease.
-In Ally 1922 the ordinance embodying the lease between the city
60 days' notice. Cum. sinking fund, $13.000 per annum, began Oct.
and the co. for the operation of the Franeford elevated line and Bustleton
1918, bonds to draw interest for the fund. V. 95, p. 480.
-For 12 mos. ending Dec. 31:
surface line by the co. was approved by the City Council and the Penna.
REPORT.
Net.
Charges,&c. Balance.
Gross.
P. S. Comm. and was signed by the Mayor and the co.
YearThese
$235,075 $93,654 $44,831 stue$48.823 lines are leased beginning Nov. 5 1922 for a period of five officials. The co.
1921
years.
39,303 • stir. 32.327 pays rental of 1% during 1923 on construction cost of Frankford Elevated;
71.630
209,515
1920
-Operates an electric line in Fairmount Park. Philadelphia, rental to be increased 1% annually until a maximujm of 5% is reached.
ROAD, &c.
together with the Woodside Real Estate Co.(capital stock $100.000), which This contract may be extended by the city so as to terminate in 1957 with
owns Woodside Park. The license from the Park Commission expires the 1907 city agreement. A summary of the principal features of the lease
July 24 1939. Operation from Nov. 30 to May 1 is optional. Milos of will be found in V. 114, p.2241.
Power Ccmtract.-In March 1912 entered into a 10-year contract with the
track operated.8.83. Gauge.5 ft. 2ee in. Rails. 90-1b. T. Cars,9 closed,
Phila. Electric Co. for additional power. V 94, p 768. A new agree.
50 open.
OFFICERS.-Pres., N. S. Alexander; Sec. & Treas., Clayton E. Platt. ment was entered into Dec. 12 1920 for a period of 3 years from Nov. 15
Von rug 7'rust.-The voting trust established 50 Feb. 1911 for b years1922
V. 107. p. 1670.
was
extended in 1916 for a further period of 5 years to Feb. 20 1921. On Feb. 12
PHILADF.LPHIA & WEST CHESTER TRACTION CO.
1920. however, it having been determined that the voting trust was no
ORGANIZATION.
-Chartered in Pennsylvania on April 24 1895. Mu- longer necessary. It was resolved to terminate same on
that date.
110,
nicipal franchises are perpetual. In Jan. 1902 leased the Ardmore & Llan- p. 465 V. 92, p. 660. 726, 882, 1243. 1500; V. 95. p. 1608: V. 102, V. 523,
p.
erch St. By., a line between the points named, 33 miles: it has no bonds or
debt. Rental is 5% on the outstanding stock (8100,000 auth., $383.- 1347 Line.
other
-In Sept. 1911 the Snyder Ave. St. By. was chartered in the
1‘ene
r.
350 outstanding) and payment of taxes and erganization expenses. Leases interest of the Phila. Rap. Tran., with $140,000 stock, to operate 7.66 miles
the Philadelphia & Garrettford St. Ry. (which it also controls) at 5% on of line on Snyder Ave. Line was placed in operation Jan. 1912.
annum for salaries and organization expenses
funded debt and $500 per
lIoa Island Extension.
-On Aug. 4 1918,in accordance with a contract with
In Jan. 1912 increased authorized stock from $1.000.000 to $1.400,000. the Emergency Fleet Corp.. the co. placed in operations an extension from
-In Jan. 1919 the co. announced an increase in fares from 5 cents Eastwick Ave. to the Hog Island Shipyard. The Fleet Corporation
Fares.
advanced the funds to the company to cover the cost, of the new constructo 6 cents on each "fare limit." V. 108. p. 80.
Date, Interest. Outstanding. Last div..ea tion and equipment [100 cars]. On Aug. 24 1922 this property was purSTOCK AND BONDSA-0
81,303.700 Oct '21.3% chased by P.R.T. Co. in accordance with the contract at an appraise.'
Stock $1.400,000 (par $50 - - - ,e,)
534,000 .
l
lan 1 1954 vaExciseuation
Mtge bonds $1.000,000 gold 1, 1904
4 g Jei
Tax -On Aug. 2 1915 Judge Dickinson in the U. S. Dist. Court
c*tf !Int. at West End Trust Co., Phila., Trustee.
(111.000)
2,564,000 Aug 1 1955 held that the company's subsidiaries operated under lease were not carry frig
5 g P-A
Phila & Gar 1st M $3,000,0001 1905
_ctf lint. at West End Trust Co., Phila., Trustee. on business within the meaning of the excise tax law of 1909 ahd therefore
gold ($1,000)




OCT., 19221

ELECTRIC RAILWAYS

10?

Dec. 31.
ANNUAL REPORT -Fiscal year changed In 19113 to end
Market Street Eteyatee
were not liable to the tax. On Oct. 22 1917 the
annual report for year ending Dec. 31 1921 was given in V 114, p. 913:
ia Traction Co. ap1920.
1921.
1920.
1921.
Pass. Ry.. the Union Traction Co. and the Philadelph
and interest colof $73,768
$
$
$
pealed to the U. S. Dist. Court for restitution
2.798,821 2,601,253
in the years 1911 and 1912.
0 37,989,623 Taxes
Pass. earns_ _ _41,514,83
lected from them
line cos.filed
817,731
-On July 15 1918 the various leased excess profits other receipts 905,775
Tax Litigation.
Income
Total exps_31,233,589 29,195,166
income and
suits against the Phila. Rap. Tran. Co. to recover 402. Compare V. 106,
p.
V.
42,420,605 38,807,351 Net earnings_11,677,451 10,205,175
Total
taxes paid by them under protest. was 107.
976,463
1,029,245
Interest
handed down by Common Pleas
ExpensesNov. 20 1918 a ruling
P• 2451. On
a8,8 10,913 a8,846,647
by the Pennsylvania Supreme alaint.&renew 8,136,800 5,595,600 Rentals
Court No. 3 (and in Feb. 1919 affirmed
(5%).._
held responsible under
Transit Co. Is
)per. pow.pl't 3,675,788 3,728,027 Divs.
Court) under which the Phila. Rapidpayment to the Govt. of the income----- ----13,748,926
the terms of the several leases for the leased line corporations: Philadelphia Oper. of cars_13.330,471 3,521,359
382,065
Surplus_
contraeil._ 1,807,293
3,291,710
General
excess profits taxes of the following
Pass. Ry. Co..
Streets
,Includes $120,000 sinking fund city
Co., Germantown Pass. Ry. Co., 13th & 15th Ridge Ave. Pass. Ry.
Trac.
-For statement of earnings for 9 mos. end. Sept. 30
Latest Earnings.
Ry. Co., Union Trac. Co.,
Philadelphia City Pass.
ia City Pass. Ry., Fairmount Park
115,
Co., Frankford & Southwark Phfladeiph Pass. Ry. Co. and the Hestonville 1922, see V.S. p. 1838. of the Board and President, T. E. Mitten;
Citizens'
OFFICER -Chairman
& IIaddington Pass. Ry. Co.,RR. Co. On the other hand, however, it
Treas..
V -Ps., W. C. Dunbar and G. A Richardson: Sec., F. B. Ellis; p. 739,
Pass.
Mantua & Fairmount
114.
liability for their G. W. Davis; Alld., W. D. Witt; Comnt., E. L. Austin.
assume
was ruled that the following companies must
RR. Co.
p. 437, 760, 869,
Continental Pass. Ry. Co., Philadelphia & Darby 2009; V. 943, 1181, 1288, 1535, 1652, 2241, 2170, 2825; V. 115, -V.
Federal taxes:
Ry. Co. V. 107, p.
1211, 1429, 1838.
and Green & Coates Streets Phila. Pass.
-A trolley road.
tl) Doylestown & Willow Grove R. Co.
108, p. 785.
In July 1902 was acquirel by the Philadelphia Rapid Transit through
-In Dec. 1920 the Superior Court of Penna •
Validity of Rentals Upheld.
The
Comm.
,urchase of the entire capital stock (3500.000) for $20,000. 1331. Rapid
decision denying the order of the P. S. made byrequiring
handed down a
the city
to averments
rranstt Co. guarantees interest on the bonds. See V. 79. p.
the underlying companies to file answers s with regard to rentals of the
Interest. Outstanding. Maturity.
STOCK AND BONDS- Date.
and two local business men's association V. 112, p. 163. The city. the
0
55000 0
2 0:000
itock $500.000 ($50)
underlying companies. V. 111. P. 2521;
June 1 1930
s appealed, and on July 1 1921 the
4 g J-D
first mtge 3500.000 (31.000)1 1900
P. S. Comm. and business association
Court but only
Superior
Supreme Court reversed the decision of thethe case should not have
goil guaranteed___c•_cpt(Land Title & Trust Co.. Phila.. Trustee.
Penna.
from Doylestown to Willow Grove.
Supreme Court held that
ROAD.
-Trackage. 13.620 miles,
on a technicality. The
leased for 999
that the P. S. Comm. had no
tinning over the old turnpike between those places, which is
gone to the Superior Court; but maintained see V. 113, p. 183. 293.
,
Bars.
right to attack rental payments. For details
-V. 79. p. 1331.
Transit Co.
739. 1181.
-Included in Phila. Rapid
EARNINGS.
-See V.111, p.389;also V. 114, p.522.627,
Split in Directorate.
Comm. for auth. to
Avenue Passenger Ry.
-On Oct. 4 1920 applied to the Penna. P. S. and 3
(2) Twenty-Second Street & Allegheny Doc. 9 1903 the following
Fares.
-cent exchange
free transfers
-Chartered 1890. On
ORGANIZATION.
charge a flat 5-cont fare and to abolish all 110. p. 2488; V. 111, p. 74. 1183.
Ry. Co., Fisher's
p- 1472. Compare V.
cos. were merged with the 22d St. & Allegheny Pass. Ely. Co. Germantickets. V 111,
effective Nov. 1 1920 the co. Lane Ry. Co., Lindley Ave. Ely. Co., Cheiten Ave. Pass.
This petition was rejected by the Comm. but 4 tickets at 25 cents. No
Trenton Rapid Transit
with
was auth. to raise fares to 7 cents cash,rates. V. 111. p. 1662. See also town & Fairmount Park Ry. Oo. and the Phila. & Co. for 6% per annum
Ry. Co. Is leased to the Phila. Rapid Transit
change was made in transfer or exchange
Mitten in a letter to the Mayor St.
V. 112, p. 1978: V. 113, p. 1773. President the Frankford "L" proposed a on paid-in capital.
4 TOOK.-Auth. amount, 31.302.000 ($501; 22.456 sharaa ontatanding.
March 1921 on the subject of operation of the entire system, instead of
in
-cent fare with 5 tickets for 35 cents for p. 1399. See also V. 114. $25 paid in. "Amount due other companies" Dec. 31 1921, 3880,802.
basic 7
112,
ROAD -Trackage 65.377 miles.
4 tickets for 25 cents as then effective. V.
p. 1652.
(3) Darby & Yeadon Street Railway.
-See details in V. 114, p. 2470. approved a
City's Report on Valuation.
-Entire stock ($5.000) Is owned by the Phliadelpgia
ORGANIZATION.
P. S. Comm.
Government Loan.-In Sept. 1918 the Penn. co. $1.748.000 to extend 'lipid Transit Co.
the
Interest. Outstanding. Maturity.
contract under which the Government loaned
Date.
STOCK AND BONDSindustrial war plants. V. 107. p. 1101.
transit facilities for workers in
Stock all owned by Philadelphia Rapid Transit Co.
the Government for the pur$200.000 Dec 1 1934
414 g J-D
Oct. 1922 negotiations were pending with
gold( 1904
In
First mortgage $200,000
chase of the property covered by this loan,
co _cptrInt. at Laud Title & Tr. Co.. Phila., Trustee.
guar (31.000)
-In Aug. 1920, Pres. Mitten made public
Consolidation.
Bonds -Are guaranteed. prin. & Int., by endorsement by the Phila. Rip.
Proposed Plan of
ion, after having resigned from the
interest date at 105 and interest.
the following proposed plan of consolidat account of opposition on the part Transit Co. Are subject to call on any
ROAD -From the Philadelphia County line to Darby. 2 486 miles.
directorate of the Union Traction Co. on
this plan. The plan provides for the consolidaLine).
of members of the board to companies-Philadelphia Rapid Transit Co.,
(4) Chester Sr Philadelphia Railway (Chester Short Feb. 14 1911.
-year agreement dated
tion of the five lease-holding
Is operated by Phila. R. T. under 30
Electric Trac. Co., Peoples Trac. Co.,
Union Trac. Co., Phila. Trac. Co., g the stocks and other securities of
successor to
ORGANIZATION.-Incorp. In Penn. on June 29 1910 as In considersinto one operating co.; transmutin so as to maintain present preference the Phila. & Chester Ry.,sold at foreclosure(V.92. p. 1243).
co.,
these cos. Into the stock of the new
Phila. Rapid Transit received
assessment of $10 per
of the respective cos. An under the plan. The :ion of an agreement to operate the line the
as to assets and dividends
provided for
51% of Chester St Plaits stock. The Chester & Phila. receives 35% and
share on Union Traction Co. stock is basis upon which exchange of securSapid Transit 65% of gross earnings, for which the Rapid Transit assumes
following table is designed to show the would be made.
all costs of operation. The 35% to be applied to int. on bonds and dim
of new co.
ities of present cos. for stock
Franchises are unlimited as to time.
in stock
g. Would Rec. New Seek.
Holders of Pres. Secur.- Amount Outstandin 8% 1st Prof.. 320,000.000
Interest. Outstanding. Maturity
STOCK AND BONDS- Date.
00
-- Phila. Trac. 8% stock__ 1$20,000,0
3485.000
(10O
8% 1st
flock 3485,000 ($50)_
(Par $50. full paid
600.000 fuly 1 1941
g
d
% ref.. $14.865.057 Lit M $600,000 gold
6
151Trust $29,730,114
Peoples Trac.14%
(50%)
and $1.000)____cs_tf Int. at Real Est. Tit. Ins.&Tr.Co-Phila..Tr.
stock)
$500
(Secured by
Electric Trac I Certif.
Bonds.-Red. on any int. date at 105 and int. on four weeks' notice.
$34,865,057
of one-half the surplus earnings
Total now 8% 1st Preferred stock
par 350 7% 2d Pref.. $30.000,000 Free from Penn. State tax. Sinking fund and retire bonds or be used for
Union Tr. Co.6% stock1 600.000 shares, p. sh.) (100%)
iver 4% on the stock shall either purchase
If pay assees., 310 p. s (paid In $17.50
iew construction. V. 104, p. 763. Listed on Philadelphia Stock Haab.
Coin stk. 600,000 shares
shares
Philadel. Rapid Transit $600,000
•
(No par value) (100% )
-For years ending Dec. 31:
EARNINGS.
Co. capital stock_ _ _ Par $50. full paid
Interest, Balance,
Total
Other
Rental
Gross
(a) Phila. Traction '7atendar
-Capital paid in and surplus are now as follows:total, $20,486,220
Note.
(35%). fleets. Receipts, TaxesAc. Surplus,
Earnings.
Year1921
$486,220:
Co. stock full paid, $20,000,000; surplus. Certificates" are secured hy
3434,038 $151,913 36.965 3158.879 354,519 3104.360
54,071 118,833
172,904
3,247
(b) The "Peoples Electric Traction 4% Trust Co.. and also Electric Trac- 1920
169.656
484,733
$6,000,000 full-paid stock of Peoples Traction
-16.861 m, of track, including main line from Chester to Phila.,
ROAD.
paid in viz., 152.396 shares ol
tion Co. stock on welch 38.297,920 has been (c) Union Traction Co paid
and branches from Essington to Moore Station and Essliagton to Phila.$50 each full paid and 22,601 shares $30 paid.
V. 92. p. 1310: V. 104. p. 763.
proposed assessment $6.In on stock $10,500,000, surplus $3,753,141 and 0 full paid and surplus
-A trolley road.
UNION TRACTION.
000.000. (d) Phila. It. T. Co. stock, $30,000,00
$89.519,401. For
and
-The Union Traction Co. has been leased for 999 years from July 1
Lease.
$1.482.120. Grand total paid-in capital 896. surplus
to the Philadelphia Rapid Transit Co. Lease rental (payable in
of above plan see V 111 p 793.
full details
ctfs. ser. "F." V. 115, p. 1902
In July 1922 issued $2,150,000 6% equip. trust "C" were to have been gold) is $900.000 per annum (equal to 3% on the face value of the 330.000
ser.
760, 869. All outstanding equip, trust ctfs. eliminated that issue from 000 stock) for the first two years, $1.200.000 per annum (equal to 4% on
1 1922, and we have therefore
stock) for the next two years. $1,500,000 per annum (equal to 5% on stock)
retired on Nov.
for the next two years and $1.800.00)) per annum (equal to 6% on stock)
the table below. V. 115, p. 1429.
Interest. Outstanding. Maturity. thereafter. The stockholders of the Union Traction Co. were given the
STOOK AND BONDS- Date.
See
J600,000 sh1
J-J
right to purchase 150,000 shares of the new Rapid Transit Co. stock. V.
Stock $30.000,000 ($50)------ ---text
1 Full paid(
74. p. 989. Included at the time all the leading street passenger railway
34,501.000 Feb 1 1957 lines within the city of Philadelphia
5 g F-A
Coll trust mtge $5,000.000{ 1908
-Chartered Sept. 6 1895, and acquired on or about
ORGANIZATION.
cacpt Int. at Penn. Co.for Ins. on Lives & Granting
(31.000) gold
Oct. 1 1895 all the shares of the Electric Traction and People's Traction comAnnuities. Philadelphia. Trustee.
Mar 1 1962 panies, In place of which were issued collateral trust certificates secured by
9.785.000
5 g M-S
link, fund mtge. 310.000.000 1912
at Comm I Trust Co., Phila.. Trustee
the shares placed in trust In 1896 leased these properties for 998 years and
11 (31.000) guar p & Lc•cpt, Int.
10.000,000 May 1 19515 3 months from July 1 1896. On Oct. 1 1895 leased for 999 years the Phila4 g M-N
Market St El 1st mtge $10.- 1905 Land Title & Trust Co.. Phila., Trus
delphia Traction at 8% on its capital stock. V 61. p. 663. Leases (from
gu g (31.000) c*cpt Int. at
000,000
991.000 July 1 1936 Jan. 1 1898) lIestonville Mantua & Fairmount Passenger Ry. for 999 years
‘Ri g J-J
Darby Media & Chem 1st M ' 1906 Land Title & Trust Co.. Phila., True
The Lehigh Ave.
at6% on pref. and 4% on corn. stock. See V 66, p. 236
31.500.000 ($1.000) R c cot Int. at 5 M-S
1.050.000 Mar 1 1925 Ry. Co. ($1.000,000 stock) was leased for 995 years from July 1 1899.
Car trust cents.. $4,200.000 • 1913 Trust Co.. Phil& . Trustee.
See terms of consolidation, &c., In statements for the constituent companies
cot Fidelity
Series "B"
1(129
63.000
and V. 61, p. 152. 197, 283, 663. For change In terms of lease see V. 89.
F -A
Car trust certificates Series '1919 Trust Co., Phila . Trustee.
p. 594. The Philadelphia Rapid Transit now operates the road. Co.
t.f. Fidelity
"I)"
1929
203,000
Also owns entire stock of the Philadelphia & Willow Grove Ry.
of
Oar trust certificates Series 1919 Trust Co., Phila , Trustee
Union Traction shareholders in Oct. 1908 gave their assent to the use
.t.f. Fidelity
"It"
1923-32 certain securities owned by the Union Trac. Co. to bo pledged as collateral
2,150,090
6 F-A
Car trust cfts. Ser. "F" $3.-1 1922
Co., Phila., Trustee. for the $5,000,000 loan of the Phila. Rapid Transit Co. V. 87, p. 1110.
000,000 ($500 & 31,000)_c5 JInt. at Fidelity Trust
The shareholders voted June 20 1910 (form illy ratified Sept. 21 1916;
7.
Funded dent of underlying companies Dec.31 1921, 356,729,44
V 91, p. 337) to purchase the equipment of the Phila. Rapid Transit, and
anu Feb
.luly
Stock was listed on the Phila. Stock Exchange in 872. 1902
lease same to that company on terms as stated under Phila Rapid Transit,
190500 N. Y. Stock Exchange. See also V. 110, p
and make the equipment the basis of an issue of 31.500,000 car trusts. Oa
with trustee of Feb 26 1913 they voted to purchase additional equipment and lease It to
Bonds.-C)ollateral trust bonds are secured by deposit
the Philadelphia Rapid Transit Co. and to Issue 34.200,000 car trust certifs
securities owned by Phila. Rapid Transit and also securities of Union Trac
Co. and Phila. Trac. Co.; entire Issue subject to call at 105 on 6 weeks' pub
(Series B) as a result of the transaction. In May 1913 a further issue of
A sinking fund, which will re- 31.944,000 car trusts (Series C) was put out. See under Phila. Rapid
Belied notice on and after Feb. 1 1912.
tire all bonds by Fob. 1 1957, began to operate Feb. 1 1912. The Marko. 'Transit and V. 96, p. 555, and V 97. p 803.
Street Elevated Ry. bonds cover the subway and the elevated road on
On Feb 28 1911 shareholders voted to guarantee new Phila. Rapid Transit
Market St. See V. 80, p. 652. They are guaranteed, principat and 810,000,000 mtge. See under that company and V. 91, p. 1575; V. 92.
interest, by endorsement by the Phila. Rapid Transit Co. Are subject p. 324. 463. 596.
V. 86.
-See under Phila. Rapid Transit Co. above.
Income Tax Decision.
to call on any int. date at 102 )4 and int. V. 84, p. 749:p. & I.,P. 547
by enThe Darby Media & Chester Street Ry. bonds are guar., int.
Proposed Plan of Consolidation.-See under "Phila. Rapid Transit Co."
Maturity.
by Phila. Rap. Tr. Co. Can be called at 10214 &
Interest. Outstanding.
dorsern't
STOCK AND BONDS- Date.
J-J
J600,000 stis.1 Jaly'22. 3%
Both the collateral trust bonds and Market Street Elevated bonds were Stock $30.000,000 (par So())-1
V. 88,
1317.50 taLin J
listed on the Philadelphia Stock Exchange In April 1909. on any p. 945. 1
March
4 g A-0 329.730.114 Red, after
The sinking fund mortgage bonds of 1912 are callable
Trust Co certificates. gold.i 1895
Oct 1 1946
as a whole or for sinking fund at 105 and interest. Cumulative sinking
guar.. p. & I by Union(
$10.000,000
fund of $35,000 per annum began Jan. 15 1917. Of the been
cpt Int. at Pa. Co. for Ins. on Lives & Granting
Trust Cohave
Annuities, Trustee.
authorized $9,785,000 are outstanding and $215,000 p. 827. 699. retired.
V. 91,
1.202,000 July 1 19.52
J-J
Bonds are guar., p. & I., by Union Trac. Co. 3175.090 saa. heg sent 1 Collateral trust first mortgage( 1902
Car Trusts.-Th. Ser "II- car trusts mature
--cpt(Land Title & Trust Co.. Philadelphia, Trus.
31.500.000 gold_
int. Series"D" mature
1913 and ending Mar. 11925. Red. at 1023.4 and
Trust Certificates.-The trust certificates are not the direct obligations
to 1929.
28 thereafter
Co.. but were issued by the Pa. Co. for Ins on Lives
$8,000 Feb. 28 in 1920 and 1921 and $9,099 each Feb.
14 1920 and 1921 )f the Union Traction to pay for the shares of the Electric and People's TracRed. at 10234 and int. Series "E" mature $28,000 Oct. 1023.6 and int.
Granting Annuities,
Red. at
and $29.000 each Oct. 14 thereafter to 1929. ts, Feb. 15 1923 to Aug. tion companies purchased and are secured by a deposit with the Trust Co.
Series "F" mature in equal semi-ann. installmen
of all the shares of the stock of the Electric Traction Co.sandVthe People's
64. p. 135.
15 1932 incl. V. 115, p. 760.
Traction Co. thus acquired. See description of certificate In
In Oct. 1916. In They are guar . prin and Int.. by the Union Traction Co. and are redeem-An initial div. of $1 per share was paid
Dividends.
50 per share. In 1919. $2 50 per share. able at the option of that company on and after Oct. 1 1945.
1917, $2 50 per share. In 1918. $2
.
v. III. p. 389.
Collateral Mai Ilinds.-The collateral trust bonds were issued to fund
In 1920. Jan., 31.25 per share. July 1920 div. deferred. viz.:
Quar. eflv. the 'boating debt and are secured by the deposit of the 35.000 shares of the
paid,
494. None to July 1922, when $1 :i0 per share was
No. 2, for April-June, 75c. V. 1 .1, common stock of the FIestonvilie Mantua & Fairmount Pass. RR. Subject
-Mar. 1922, 75c.;
No. 1 for period Jan.
1922.
to call at 105 and accrued Int.: $298,000 has been retired by sinking fund.
1)• 2825. Quar.(liv. No. 3 was paid in Oct.
OFFICERS.-Pres.. Jeremiah J. Sullivan, list V .-P. Ohm. E Seed;
all lines lease and
-Total trackage Dec. 31 1921, including all kinds
ROAD.
,
-V.III, p. 1280; V. 113, p. 2506; V. 114, p. 80.
gee. & Treas., T. M.Cleary.
of
operated, 675.201 miles. Owns about 3,208 cars




108

ELECTRIC RAILWAYS

[Vol,. 115.

LINES CONTROLLED BY UNION TRACTION CO.
Interest is payable in Philadelphia. x Free of
tax.
(1) Catherine & Bainbridge Streets Ry.-A trolley road.
* Of the $1,250,000 outstanding,
-is
ORGANIZATION.
so take up bonds of like amount of$124,500 were issued Jan. 1901 as 3j
-Incorporated May 14 1889,and leased to the Phila
the Fairmount Pass. Ry. duo at that
time and $75,000 on Mar. 11902, to take up a like amount
delphia Traction Co. Mar. 1 1890 for 99 years, and included in lease of
of 2d mortgage
company to the Union Traction Co. Oct. 11895; in Sept. 1895 term of that
is maturing on that date.
least
was increased from 99 to 999 years and stock from 3150.000 to
Common stock authorized, 39,322
3400.000
value of each. $50; stock outstandingshares; preferred, 10.678 shares; par
(all owned by Phila. Trac. Co.); rental is 324.000 yearly, besides interesi
as in table.
and taxes
ROAD.
-Trackage, 19.728 miles.
-V.71, p. 1167; V. 108, p. 784.
The $150,000 1st M. 56 due April 1 1920 were extended for 10 years
(10) Lombard & South Street Passenger Railway.
at 6%.
-See Frankford &
Southwark Passenger Railroad.
STOCK AND BONDS- Date.
Interest. Outstanding. Maturity
(11) People's Passenger Rallway.-An electric road.
Stock (par $50)
6% M-S
$400.000 See text
ORGANIZATION.
-Chartered Apr. 15 1873.
let M 3150.000 ($1.000) c-cpt 1890 6% A-0
150,000 April 1 1930 an Apr. 15 1893 acquired the entire capital stock The People's Trac. Co.
of this road at $70 per
Due lessee Dec. 31 1920.
share. The Traction Co. then leased the
234.698
People's Passenger
Bonds are not subject to call. Interest at Penn. Co. for Insurances on tripartite agreement
By a
this lease was on July 1 1896 assigned to Ity. Union
Lives. &c., trustee.
the
Tree. Co. for 998 years and three months.
Rental is 10% per annum on
Dividends.
-Dividends of 8% are paid.
capital stock ($2 50 per share) as below shown,
nearly all of which is pledged
ROAD.
for People's Pass. Ky. trust certificates
-The road aggregates 5.389 miles of track.
.
STOCK AND BONDS- Date.
(2) Citizens' Passenger Railway.
Interest, Outstanding. Maturity.
ORGANIZATION.-Incorporated Mar. 25 1858. Leased
Common stock ($25)
10% M-S 31 a60.000 shs. See text
& Southwark Passenger Railway Co. April 1 1892 for 999 to Frankforc
years; rentai Preferred stock ($25)
now 3140.000 per annum, equal to 28% on stock. or $14 per $50 share
First mortgage ($1.000)c_cpt 1874 10% M-S 31 a23,000 shs. See text
4 J-J 15
3219.000 Jan 15 1935
This lease was assumed by the Electric Traction Co. July 11893. Operatee
second mortgage 3500.000 1881
4 J-J
285.000 July 15 1961
by Phila. Rapid Transit Co.
C cpt Int. at Guar. Tr. & S. D. Co., Phila.. True.
Income Tax Decision.
0d0
)
-See under Phila. Rapid Transit Co. above antl Colek110ated mtge $1,125.- 1882
4 M-S
246.000 Mar 1 1962
V 108, p. 784.
000 (31.000)____c&r_cpt Int. at Guar. Tr. &
S. D. Co.. Phila., True.
Stock authorized. $500,000; par ($50); paid in, $192,500-$20 on
a Total stock paid in 3924.056.
8.500
shares and $15 on 1.500 shares. 11.543 miles of track.
Int. on 1st M. bonds at Land Title & Trust
-V. 108. p. 784.
Co. The 1st M. bonds mameal Jan. 15 1905. but $219,000 of the $250,000
(3) Continental Passenger Rallway.-A trolley road.
were extended as 4s to
1935. the remaining 831.000 being canceled.
ORGANIZATION.
-Incorporated Sept. 3 1873. Leased Jan. 1 1881
July 15 1911. but were extended as 4s to 1961. The 2d M. bonds matured
to Union Passenger Railway Co. for 99 years at rental of $6 por share
Consol. mtge. bonds were
originally 5s and fell due Mar. 11912, but were
per annum, interest, taxes and operating expenses; lease assigned to Phila
Due Peaple's Traction Co. Dec. 31 1921 for extended for 50 years as 4s.
delphia Traction Co. June 30 1884. Operated by Phila. Rapid Transit
construction and equipment.
Co
$5.947,202.
Stocks owned, per balance sheet Dec. 31 1921. $600.000.
The stock acquired by the People's Traction
Income Tax Decision.
-See under Philadelphia Rapid Transit Co. above.
r trust certificates. See People's Traction. Co. was pledged as security
and V. 108, p. 784.
ROAD.
-Trackage. 2.435 miles.
-V. 63. p. 557; V. 92. p. 1500.
STOCK AND BONDSDate.
Interest. Outstanding
Maturity
Stock (par $50)
(121 People's Traction.
$6 J-J
-An electric road.
(20.000 shs.,1
ORGANIZATION.
-A Pennsylvania corporation
1$29 paid in.! See text
First mortgage ($500 and') 1879
1893 to operate and equip with trolley the People's chartered March 6
4
1280.000 July 1 1959
31.000) gold__
moth's capital stock of which it purchased on or about Passenger Ry., the
_cacr Land Tirle
Trts- Co.. Phila.. trustee
:
April 15 1893. In
Due lessee for additions Dec. 31 1921. $672.260.
Oct. 1895 the Union Traction Co. acquired all traction
Bonds were originally 6%. but in 1909 were extended
share, the Pennsylvania Co. for Insurances on Lives stock at 876 per
and Grant. Ann.
Int. payable at office of company. Not subject to call. for 50 years at 4%
Issuing therefor its guaranteed trust certificates. On July
Bonds were Mite('
1 1896
In 1909 on Mille Stock Exeh. V SS. p. 822. Trackage
Traction Co. leased the road for 998 years and three menthe. the Union
V. 111, p. 2227; V. 112, p. 2113; V. 113, p. 2504; V. 114, p. 11 543 miles
STOCK. &c.2579.
Date.
Interest.
Issuea.
Maturity.
(4) Electric Traction.
Capital stock (830) (See ____
See text.
1200.000 she.1
text
ORGANIZATION.-Incorp. May 8 1893 and acquired control
1 Full paid f
of the Trust certificates gold 1893 1893
Citizens' Pass. Ry., the Frankford & Sopthwark
4 g P-A
35.807.97
not subject to call (Si.- Interest, tax free, payable at 0 Feb 1 1943
and the Second & Third Streets l'assenger Ry. OnPhila.1City Pass.R.R.
Pennsylv. Co.
July 1896
000)
999 years the Citizens' Clearfield & Cambria St. Ry.. the Citizens'leased foi
for Insurances on Lives. Sce.. Phila, True.
cpt
East End
Trust certificates were issued by Pennsylvania Co. for Insurances
St. RY...the Brown & Parrish St.. Ry. and the Citizens' North
, &c.,
In 1895 the Union Traction Co. acquired all the stock atEnd St Rae and are secured by pledge of People's Passenger Ry. stock (see that company
$85 per share for each share, on which $50 had been paid, the rate cf shove) and by contract of People's Traction Co., which guarantees principal
and $70 pet and interest. Issue limited to 31.090 for 14
share for each share on which $30 had been paid, the Pennsylva
2-7 shares deposited, making
Insurances on Lives & Granting Annuities issuing therefor its nia Co. for total authorized. 35,810,000. Of this. $5,259,C00 outstanding. Sinking
trust certificates. On July 1 1896 the Union Traction Co. guaranteed fund $25,000 yearly. began Feb. 1 1903.
property for 998 years and 3 months. See V. 61, p. 197. and leased the
also "Union
(13) Philadelphia City Passenger Ry.-A trolley road.
Traction" above.
ORGANIZATION.
Stock authorized, 175.000 shares of $50 each; issued, 152,396
-Incorporated Mar. 26 1859. Leased to West Philosshares of Ielphia Passenger Railway Co. for
$50 paid and 22.604 shares of 830 paid, making total $8,297.920
999 years from Jan.
.
an bonds. $2,500 per year for organization and dividend 1 1884 for Interest
ROAD.
-Mileage. 130.266 miles. Rail. 90 lbs.-V. 63. v.
557.
Transferred under lease of Philadelphia Traction Co. of $7 50 per share.
Oct. 1 1895 to the
(5) Empire Passenger Railway.
-A trolley road.
Union Traction Co. The let mtge. 4% bonds due
ORGANIZATION.
Jan. 1 1960 were ode--Incorporated Feb. 10 1869. Leased Dec. 26
1873 sally 5% bonds, and fell due Jan. 11910, but
to Citizens' Passenger Railway Company and the Seventeen
th & Nine- option of prior redemption. V. 89. p. 1543. were extended at 4% without
teenth Street Passenger Railway Company for 999 years.
Income Tax Decision.
-See under Phila. Rapid Transit Co. above. and
Oct. 1 1895, along with all right to dividends on 6,100 shares Transferred
V. 108. p. 784.
(then held by the Union Passenger Railway Co. as trustee and of its stock
lessee), by
STOCK AND BONDS- Date,
lease of Philadelphia Traction to the Union Traction Co.
Interest. Outstanding. Maturity.
Dividends are 3tock $1,000.000
51 50 per $50. share each June 30 and Dec. 30
($50)------that is 6% per ann.
7 J-J
120,000 shs.1 See texts
STOCK AND BONDS- Date.
1323 75 paid!
Interest. Outstanding. Maturity
First
mortgage
extended') 1861
4 J-J
Stock (par $50)32.000 Jan 1 1960
09
(All owned by Phila. Trac.)
3600.000
cptiLand Title & Trust Co.. Trustee.
let M gold $200.000_,_c cpt_ 1900
334 g J-J
u es
Bonds.
-The new 310 were Issued to retire a like 200.000 Mar 1 1930 Dele5n0t0)rc ($500 are) c_cptf ---100.000 Mar 1 1935
5 M-S
'Interest at Land Title & Trust Co., Phila.
July 1900. Land Title & Trust Co., Phila., Trustee. amount of 7s. due
ROAD.
-Trackage,9.519 miles. V. 89, p. 919, 1543; V. 108,
Due lessee company for additions Dec. 31 1921, 3705,715.
p. 785.
(14) Philadelphia 15( Darby Ry.-A trolley road.
ROAD.
-Mileage, 12.910 miles.
-V. 70 p. 1150.
ORGANIZATION.
-Incorporated
(6) Frankford & Southwark Philadelphia City Passenger
1857.
Rallrond ielphia City Passenger Railway Co. April 28 years Leased to the Philafor 999
ORGANIZATION.
from Jan. 1 1870,
-Incorporated April 4 1854. Acquired stock
of $8.000 per annum and interest on bonds. Transferred under lease for
Lombard & South Streets Passenger Railway in 1890.
of
Philadelphia Traction Co. Oct. 1 1895 to Union Traction
Leased
Electric Traction Co. for 999 years from July 1 1893; dividends to the
Co.
Income Tax Decision.
-See under Phila. Rapid Transit Co. above and
for the
several years named below being guaranteed per share:
V. 108, p. 784.
Income Tax Decision.
-See under Philadelphia Rapid Transit Co. above
STOCK AND BONDS- Date.
and V. 108. p. 784.
Interest. Outstanding. Maturity.
Stock (par $50)
2d
1st
4 J-J
3d
4th
5th
6th
7th 8th 9th 10th and after First mortgage
3200.000
See text
c clot'
$12 $12.50 $13 $13.50 $14 $14.50 $15 $16 $17
4 M-N
100.000 May 1
818
lint. at Land Title & Trust Co.. Phila.,1927
STOCK AND BONDS- Miles. Date. Interest. Outstanding Last
l'a
ROAD.
-Trackage, 17.463 miles.
diteAc
-V. 108, p. 784.
Stock (par $50)
Q-J
31.875,000
See text
(MD Philadelphia & Gray's Ferry Passenger
Debt of Controlled Lines (assumed by Electric Traction Co.)
Ry.-Trolley.
Lombard & South Streets
ORGANIZATION.
-Incorporated April 9 1858. Leased to Philadelphia
10 1881 3 Yi J-D 8150,000 Dec 1 1951
Pass first mtge $500 & Interest at Real Estate Title Insurance & Trust Traction Co. for 999 years from Jan. 1 1891 at rental, first
five years,
643,225, or $3 50 per share per annum. and $49.400. or
31,000)
c cptl Co.. Trustee.
84 per share per
annum
West End Pass Ry mtge
4 A-0
9 1875
132,100
Oct 1 1935 ated bythereafter, the lessee to pay all taxes, running expenses. &c. OperPhila. Rapid Transit Co. On Jan
ext $150.000 ($100 and Phila. Trust, Safe Deposit & Ins. Co., Trustee
the
River Pass. Ry. and increased capital stock2() 1903 absorbed V. Schuylicil
$500)
c cptJ Interest at Land Title & Trust Co.
$1,000,000.
76, p. 654.
Stock: auth., 31,000,000 ($50); outstandinto 12,388 she.. about
The Lombard & South Sts. pass. issue of $150.000 was originally 5%
g,
825
Dividends at Real Estate Title Ins. & Trust Co. Trackage, 10.2(11 pd.in.
but was called at maturity and then extended for 50 years from Dec. 1
miles.
at 3A %. The West End Pass. Ry. mtge. matured Oct. 1 1905 but1901
(16) Philadelphia Traction.
was
-A trolley. road.
extended for 30 years at 4%. V. 81. p. 156.
ORGANIZATION.
-Incorporated Aug. 22 1883 and secured control of
ROAD.
-Trackage, 70.821 miles.
-V. 108. p. 784.
an extensive system of roads in Philadelphia, Pa.,
lease or ownership of securities, not in fee. Under which it held either by
(7) Germantown Passenger Rail way.
-A trolley road
the lease to the Union
ORGANIZATION.
-Incorporated April 21 1851,. Leased Oct. 1 1881 Traction Co., dated Oct. 1 1895, all the leases and the securities owned
to the People's Passenger Ry. Co. for 999 years, but rental modified in assigned to the Union Co., which assumes all liabilities for rentals, &c.were
The lease to Union Traction Co. is for 999 years from
1893: stock since 1897 receives dividends yearly of 35 25 per share.
provides for dividends of 84 (8%) per annum on each $50 Oct. I 1895, and
Income Tax Decision.
-See under Phila. Rapid Transit Co. above.
gold coin, free of taxes. Soo V. 61. p. 663. for extracts share, payable in
Stock authorized. 31.500.000 (350); paid in, 8572.860.
from
delphia Traction stockholders were allowed to subscribe lease. PhilaROAD.
-Trackage, 44.661 miles. Extension of 2.000 feet from Hillcrest
for new Union
Avenue to city line, completed in Sept. 1898, forms with the Roxborough Traction stock. See V. 61, p. 197.
Income Tax Decision.
-See under Phila. Rapid Transit Co.
Chestnut Hill & Norristown Passenger Ry., a through line to Norristown
above. and
V. 108, p. 785.
-V.69. p.695.
Stock, auth. and outstanding, 320,000.000
(par $50). Open accounts
Dec. 31 1921, $16,121,391.
(8) Green & Coates Streets Philadelphia. Passenger Railway.
ORGANIZATION.
-Incorporated April 21 1858. Leased
J '85. 'N. '87. '88. '89. '90-'93. '94. '95. '96
People's Dividendsand since.
Passenger Ry.for 999 years from Sept. 1 1881 at an annual rentalto
Per cent
1 2 3 6
of
5
4
8 8 8% per annum
Interest on bonds (since fallen due) and expense of management. 860,000
Under lease, dividends of 8% are guaranteed. 6
V.61, p. 663; V.
Income Tax Decision.
-See under Phila. Rapid Transit Co. above and
ROA D.
-The system assigned to the Union Traction Co. 73, p. 288
aggregated
V. 108, p. 784.
334.737 miles, consisting of the following "Passenger
Railways":
Stock. 10,000 shares (par value. $50), $15 paid in. Dividends are 12%
/titles
per an.(Q-J); on par or 40% on amount paid in (but see V. 107, p. 1384). Union Passenger Ry
80.695 17th and 19th Streets
13ile3
M9 4
3
Trackage. 5.487 miles.
-V. 107. p. 1384;V. 108, p. 784.
West Philadelphia Pass. Ry__ 70.209 22d & Allegheny
65 339
Ridge Avenue Passenger Ity_ _15.973 Catharine
(9) Hestonville Mantua & Fairmount Passenger Railroad.
Bainbridge Sts _5.389
Philadelphia & Darby Pass.Ry17.463 Huntingdo& St.
ORGANIZATION.-Incorp. April 6 1859. Franchise is perpetual.
n
Connect
.170
LEASE.-FIestonville M. & F. road leased from Jan. 1 1898 to Union 13th & 15th Streets
19.681 Kessler St. Connect
.156
Traction for 999 years at a rental of 6% on the preferred and 4% on the Philadelphia & Gray's Ferry...10.201 Ridge Ave. Connect
.221
Continental Passenger Ry___11 399 Walnut St. Connect
common stock. By the terms of the lease the Fairmount Park & Badding1.377
12.940
ton lease is assigned to the Union Traction, which assumes the dividends Empire Passenger Ry
Philadelphia City Passenger R3 9 9
adelphia
guaranteed on that stock.
Total of all
19:510
Income Tax Dectsion.-See under Phila. Rapid Transit Co. above and -V. 93, p. 408; V. 97. p. 951; 0 V. 106, p. 925; V. 108, p. 785; 334.737
V. 11 ,
2568; V. 113, p. 1252; V. 114, p. 1181.
V. 108, p. 784.
(17) Philadelphia & Willow Grove Street RallwaY Co.
Date.
Interest
STOCK AND BONDSOutstanding. Maturity.
Common stock par 850-----4 J-J
$1.966,100 f.p. See text
ORGANIZATION.
-Is a consolidation in 1904 of the Phila. &
Preferred stock par $506 J-J
-533,900 f.p. See text. Grove Street Ry. and the Glenside & Willow Grove Street R. Willow
Entire
Consolidated M 31.250:0001 1894 5-3A g M-N *1,250,000 May 1 1924 stock is owned by the Union Traction Co. The Phila. Rap.
Iran. Co
guarantees the bonds, prin. and int., by endorsement.
g $500 & $1,000_c*x_cpt1 Trustee, Girard Trust Co.
See guaranty
V. 79. p. 904.
Guaranteed rental 999-year lease
Fairmount Pk & Haddington ____
300,000
6 g F-A
See text
STOCK AND BONDS- Date.
Interest. Outstanding. Maturity
sl.00o.o
oo
Pass Ry stk par $50
Stock 81.000.000-"Leased Equipment Account* Dec 31 1921---241,968
Figstm tge 81.000,000 guarf 1904
r oid (sl 00 )
0
434 g J-J
1,000,000 July 1 1934
Due leased lines Dec.31 1921
100,000
t
c*_cptlInt.at Land Title & Tru.Co.,Phila., Trus
ee.




OCT., 1922.]

ELECTRIC RAILWAYS

Bonds.
-Bonds are subject to call on any interest date at 105 and interest
upon 30 days' notice. A sinking fund began after 5 years: of $10.000 pet
annum for 5 years, $15.000 por annum for following 5 years and $20.00t
per annum for the ensuing 15 years. See V. 79, p. 904.
-Trackage from intersection of Weaver St. or Cherry Lane wit!.
BOA D.
Montgomery County line to Willow Grove Park. 15.523 miles.
-V. 79
p.904; V.81, p.32.
(18) Ridge Avenue Passenger Ry.
ORGANIZATION.
-Consolidation of Girard College Passenger By. and
the Ridge Avenue & Manayunk Passenger Ry. on March 8 1872. Leased
to the Philadelphia Traction Co.for 999 years from Sept. 1 1892 for dividend
of $10 per share per annum to Sept. 1895 and $12 per share thereafter
Operated by Phila. Rap. Transit Co.
Income Tax Decision.
-See under Phila. Rapid Transit Co. above an0
V. 108. p. 785.
STOOK.
-Authorized and outstanding, $750.000 ($50); about $28
per share.paid in.
On account of some old debts, dividends for 1896 were continued at $10
per share instead of the $12 as noted above. In 1897 dividends were In
-V. 108, p. 785; V. 109
creased to $12 per share. Trackage 15.973 miles.
p. 73.
(19) Second & Third Street Passenger Ry.
ORGANIZATION.
-Incorporated April 10 1858. Leased Jan. 1 1891
to the Frankford & Southwark Passenger Railway Co. for 999 years for tilt
following guaranteed dividends per share per annum:
1896-97.
1900. 1901. 1902 & after
1898-99.
1893. 1894-95.
See below
$12
$11
$10
$1050
$9
$850
Dividends in 1895 and 1897 were to be $9 50 per annum, but the dividend
for 1896 and for the first half of 1897 was at the rate of $9 per share instead
of $9 50, the balance being applied to the payment of the debt of $27.00C
Incurred for paving. V. 62. p. 785. The full $12 per annum. however.
has been paid since.
This lease was assumed by Electric Traction Co. July 11893.
-V.107, p. 2377.
Stock issued. 21,204 shares (par $50); $771.076 paid in.
(20) Seventeenth & Nineteenth Streets Passenger Ry.
ORGANIZATION.
-Incorporated April 12 1859. Leased to the Conti
nental Passenger Railway on for 99 years from July 1 1879 at a rental ce
115.000 per annum, being 6% on 1250,000 amount paid in (10,000 shares at
125) par 150, interest of bands, taxes, expenses, &c. Transferred under
lease of Philadlphia Traction Co. Oct. 1 1895 to the Union Traction Co.;
all rights of the Philadephia Traction Co. to dividends on the 10,000 shares
of tho 17th & 19th Streets road, which were then held by the Union Passenger Railway Co. as trustee and lasses, being also transferred to the Union
Co. Stock all owned by Continental Pass. By. Co.
Interest. Outstanding.
Maturitti
STOCK AND BONDS- Date.
See text
110.000 she.1
3 J-J
Stock (par $50)
1 325 paid j
$100.000 July 1 1929
First mortgage ($500) exten-f 1878 534
c eptlInt. at Fidelity Trust Co., Phila., Trustee
ded
The bonds originally bore Int. at the rate of 5% per annum and matured
July 1 1919. but were extended for 10 years at 554%•
Due lessee for addition. Dec. 31 1921. $554,289.
-Trackage 13.934.
ROAD.
(21) Thirteenth & Fifteenth Streets Passenger Ry.-A trolley road
-Incorporated April 8 1859. Leased Jan. 1 1892 to
ORGANIZATION.
Philadelphia Traction Co.for following rental: From Jan. 1892 to Jan. 1894
$9 per share per annum; 1894 to Jan. 1897. $10 per share; 1897 to Jan
1900. $11 per share; and from Jan. 1900 $12 per share. Lease transferred
to Union Traction Co. Oct. 1 1895.
-See under Phila. Rapid Transit Co. above and
Income Tax Decision.
V. 108, p. 785.
Interest. Outstanding.
laturity
STOCK AND BONDS- Date.
$12 J-J $334.529 pd.in. See text
Stock $1.000.000 (par $50)--Is Mtge. ($500,000)- _ -c-c pt 1894 5 & 334 J-J $436,000 Jan 1 1934
55,000
Real estate mortgages_---cpt
The 1st Mtge bds.are guar., prin. and int., by the Phila. Traction Oo
and the coupons are payable tax free: $36.000 of these are 334s and were
exchanged for old 7% bonds of like amount due Oct. 11903. V. 77. p 695
Interest and dividends are payable at office of the Fidelity Trust Co.
the trustee of both mortgages.
Dividend in July 1895. 15 per share; the Jan. 1896 dividend was not paid
owing to payment of city's claim for paving. V. 61, p. 1155. In July
1896 paid $4 per share; in 1897 $10 50 per share; in 1898, $11 per share; in
1899. $11 per share; in 1900. $11 50 per share; 1901-1907, incl., $12 per
share per ann. In 1908, Jan.,$6; July,$6. and $1 extra (paid out of accumulated surplus); 1909 and since. $12 per share per annum.
ROAD.
-V.86, p. 1531; V. 108, p. 785.
-Trackage 19.681 miles.
-Trolley road.
(22) Union Passenger Railway.
-Incorporated April 8 1864. Leased to Philadelphia
OROA NIZATIO N.
Traction Co.for 999 years from June 30 1884 at an annual rental of 1285.000
or $9 50 per share on stock, and interest, taxes, &c. There are outstanding
30.000 shares (11,500.000) of stock on which $30 83 1-3 has been paid in
on each share, or a total of $925,000. $302,300 of the stock is owned by
the Philadelphia Traction Co. Its lease of the Continental Passenger Ry.
was assigned to the Philadelphia Traction Co. and from Oct. 1 1895 to
May 1 1902 operated by the Union Traction Co. The Union Passenger
Railway Co. is still holding, as lessee and trustee 6,090 shares Empire
Passenger Ry. stock and 10,000 shares of 17th & 19th Streets Passenger By.
Interest. Outstanding. Maturity
STOCK AND BONDS- Date.
See text.
See text.
19 50 J-J
Stock 11.500.000 (par $50)
4 A-0
$500.000 Mar 31 1961
First mortgage ($100 anon 1881
c cptjPennsylvania Co. for Insur. on Lives, Trus.
$500)
4 A-0
250.000 Mar 31 1960
Second mortgage ($100 andt 1884
c cptfInt. on both loans at Land T &T.Co., Phil.
1500)
Due lessee company for additions Dec. 31 1921, 86,655,361.
The 1st mtge. bonds were originally 5s and matured March 311911. but
In Jan. 1911 arrangements were made with Drexel & 0o., Phila., to purchase the bonds, and they were extended for 50 years at 4% without option
to call. V.92, p. 190. The 2d M. bonds of 1884 were formerly 5s. and matured Mar. 311910. but were extended for 50 years at 4% without right of
prior redemption. V. 90. p. 628. Land Title & Trust Co. has been
substituted trustee.
ROAD.
-Trackage, 80.695 miles.
-V. 113, p. 2615; V. 114, p. 2580.
(23) West Philadelphia Passenger Ry.-Trolley.
ORGANIZATION.
-Incorporated May 14 1857. Leased Jan. 1 1884 to
the Philadelphia Traction Co. for 999 years at an annual rental of 1150.000,
or 20% on stock, and interest. taxes. &c.; transferred Oct. 1 1895 to Union
Traction Co. The Philadelphia Traction Co. owns $392.950 of the $750.000 stock.
STOCK AND BONDS- Date.
Interest. Outstanding.
faturity.
Stock (par $50)
110 J-J
$750.000
See text
246,000 April 1 1956
First mortgage (11,000)
1876
334 A-0
gold
c cpt Girard Trust Co., Philadelphia, Trustee.
5 M-N
750,000 May I 1926
Second mtge ($1.000)-c_cpt 1886
Pennsylvania Co. for Ins. on Lives & Grant.
Free from tax.
Ing Annuities, Phila . Pa.. Trustee.
-Interest on 1st mtge. bonds payable at Girard Trust Co., Phila.
Bonds.
Int. on 2d mtge. bonds payable at Land Title & Trust Co., Philadelphia,
Pa. The first mortgage 6s matured April 1 1906 but were extended for
50 years at 3%%.
Due lessee for additions to Dec. 311921, 12,508,890.
-V. 113, p. 2615; V. 114, p. 2581.
-Trackage, 70.209 miles.
ROAD.
INTER-STATE RAILWAYS.
Financial Plan.-Int. due Feb. and Aug. 1909 was paid after some
delay. V. 88. p. 1127, 1197; V. 89, p. 348, 1141. On Nov. 25 1910 shareholders ratified the readjustment plan (V. 91, p. 1385, 1512) calling for the
Issue of $1,000.000 6% cum. prof. stock, shareholders to take $500.000 as
. par for cash (payable in 5 installments of 20% each at intervals of 30 days
beginning with 2 payments Jan.2 and ending April 11911). and bondholders
to take $500,000 at par in lieu of 1910 and 1911 coupons on bonds. V. 91.
p. 1711: V.92, p. 59. Entire issue was subscribed and taken. V.92. p. 1032
-The leasing cf the underlying companies
Leases of Controlled Properties.
was consummated in 1910 upon satisfactory terms. The subsidiaries are
In four groups, Wilkes-Barre, Reading. Trenton and Wilmington. The




109

Wilkes-Barre Rys. Co.,the Reading Trans. Co.(succeeded by Read. Trans.
k Light Co. In Mar. 1913, control of which was acquired by Eastern Power
k Light Corp.), the Trenton & Mercer County Traction Corp., the Southern
Pennsylvania Traction and the Wilmington & Philadelphia Traction Co.
were formed to take over the various properties. V. 91, p. 1512; V. 92. p.
261. Statements for these companies will be found respectively under
Wilkes-Barre, Reading, Trenton and Philadelphia.
Ttie aggregate annual income under the above leases is 94 follows (but
reremarks below):
o22
$818.54211928 and thereafter an1798.54211924
826.0431 nually
1923
808.54211925
$330.000
Fixed Charges to Be Paid Out of Above Rental Plus Any Other Income.
Int. on 4s.
Taxes.
xx$242447:060560
Inter-State Railways
$3,145
1427,145
United Power & Transportation
3,297
250,933
Total
$671,656
16.442
$678,098
Note.
-The above figures do not include the Federal income tax, which
must be added thereto. x Includes int. on 4s held in treasury as Invest,ments.
Default in Rental
-Failure of the Trenton & Mercer
-Dividend Passed.
County Trac. Co. to pay its rentals, due to increased operating expenses,
resulted in the omission of the 1918 and subsequent dive, on the pref.
stock. See V. 106, p. 189. Up to Nov. 1 1922 no rentals had been paid
since July 11917.
ORLIANIZATION.-Incorporated in New Jersey on Dec. 4 1902 with
very broad powers. Is empowered to purchase, acquire, develop and construct street railways, electric light and power, water and gas companies.
In Dec. 1902 obtained control of the United Power & Transportation Co.
through purchase of the outstanding ($3,593.750) capital stock, on a basin
0$75 for each $25 share, payable in collateral trust bonds. $3.592,200 of
this stock was exchanged for bonds on this basis.
On April 23 1915 stockholders approved the issuance of new,irredeemable
preferred stock in exchange for the old pref. stock. V. 100. p. 1592.
Under a supplemental agreement dated July 26 1917 between the Interstate Rys. Co., United Power & Transportation Co. and Real Estate Title
Insurance & Trust Co.. the outstanding amounts of United Railways and
Delaware County By. gold trust certificates (see United Power & Transportation Co. below) were reduced and some of the collateral pledged
therefor withdrawn. Compare V. 103, p. 2238; V. 105, p. 716. The cash
received by the Interstate Rys. Co. from the sale of some of the withdrawn
collateral has been invested. V. 106, P. 86.
STOCK AND BONDS- Date.
Interest. Outstanding. Maturity.
Corn 19.000,000 ($100)$2.291,200 f. p.
J-J
Pref $1.000,000 ($10) 6% cum ____
1.000 000
See text.
Collateral trust gold $10.-] 1903
4 g F-A
10,345,000 Feb 1 1943
csf Int. at Real Est. Title Ins. & Tr.. Phila., Tr.
781.250
Stock.-Oom. stock was listed on the Philadelphia Stock Exchange n
harll 1903. V. 82, p. 1243: V. 93. p. 164. $972,230 of the old preferred
stock had been exchanged for the new up to Nov. 1 1922.
Bonds are dated Feb. 1 1903 and are secured by deposit of United Power
& Transportation stock. They bear 3% interest the first year, 354% the
second and 4% the third and subsequent years. Denominations 1100.
$500 and $1.000. Are subject to call at 105 and int. on 30 days' notice.
tInndends.- Initial div. on pref.-3%-paid July 1911: same rate semiannually to and incl. July 1917. Jan. 1918 div. passed (see V. 106, p. 189).
None since.
REPORT.
-Year ending Jan. 31:
Fiscal
Total
Interest
Erp.
Preferred
Balance.
Receipts.
Coll. Trust.
Taxes.
Dividends. Surplus.
192l ar
Ye-22
$336,670
$306,628
117,716
$1122:336226
1920-21
340,531
306,620
21,549
OFFICERS.-Pres. John A. Rigg; V.
-P.. Walter A. Rigg; Treas., T. W.
Otrooket. Jr.; Sec. & Asst. Treas. J. W. Goodwin, Office 411 Market
St., Camden, N. J.
-V.112, p. 1283; V. 115, p. 73, 1837.

-Electric roads.
UNITED POWER Ec TRANSPORTATION CO.
Incorporated April 20 1899 under New Jersey laws to construct, develop
and own street railways, power companies, &c., and do a general business
(V.68. p 929). In Dec. 1902 stock was acquired by Inter-State Rya. 00.
which see immediately above.
On Nov. 1 1922 owned the following stocks and bonds. We show also
the total amounts outstanding of each issue.
Owned. Tot. Stk.
StocksShares.
Shares.
Delaware County & Philadelphia Electric By
5,993
6,060
Lebanon Valley Street Ry. Co
9.992
10.000
Media Glen Riddle & Rockdale Electric Street By
1.632
1,840
Reading & Southwestern By
228
2,600
Roxboro Chestnut Hill & Norristown By. Co
4.951
4.968
Schuylkill Valley Traction Co
9.995
10.000
Trenton Street By
19.969
20.000
Wilkes-Barre & Wyoming Valley Traction
49.992
50.000
Wilmington & Chester Traction
39,995
40,000
Wilmington City Electric
5.095
5,100
Wilmington & Great Valley Turnpike Co
978
1.040
Wilmington & Philadelphia Turnpike
1.035
1,200
Wilmington & Christiana Turnpike Co
644
680
-Stock auth., 13,593.750; shares $25, full paid. In
STOCK & BONDS.
stock was increased from $3.125,000 to $3.593,750
Mar. 1902 outstanding
(V. 74, p. 682). the additional shares being sold to stockholders at $35 per
$25 share. Bonds, 4% coll, trust certificates, are in two series, which we
have marked (a) and (b) below. (Stock and bonds listed on Philadelphia
Stock Exchange.]
(a) Under a trust agreement between the United Power & Transportation Co. and the New York Trust Co.. trustee, dated May 1 1899. and a
supplemental agreement dated July 26 1917 there are issued $5,372.800
United Railways gold trust certificates secured by deposit of 19.953 shares
Trenton St. Ry. Co., 39.993 shares Wilmington & Chester Traction Co.,
5.089 shares the Wilmington City Electric Co.and 49.911 shares the WilkesBarre & Wyoming Valley Traction Co. Pursuant to the supplemental
trust agreement dated July 26 1917. the amount of outstanding certificates
was reduced from 17.918,000 to 15.372.800 by acquisition by the co, and
subsequent cancellation of 12,545.200 thereof through the sale of certain
assets pledged as security therefor as follows: 79,991 shares of the United
Traction Co. of Reading and 35.800 shares of the Edison Elec. Ilium. Co.
of Lebanon, Pa., which, together with the remaining shares of said cos
in the treasury, were sold for a considertaion of 11.250,000 par value United
Railways gold trust certificates and $2,760.000 cash; 1,125 shares of Reading dt Southwestern St. By.. 4.925 shares of Roxborough Chestnut Hill &
Norristown By., 9,975 shares of Schuylkill Valley Traction Co., 1,600
shares Media, Glen Riddle and Rockdale Electric St. By. Co., and 14,992
shares of Holmesburg Tacony & Frankford Electric Ry. (sold under foreclosure in 1910 and reorganized with no realization on its capital stock)
see Frankford Tacony & Holmesburg By. below) were also withdrawn from
collateral for the trust certificates and are held in company's treasury.
The cash received by the company was invested in United Railways and
Delaware County, Ry. gold trust certificates. V. 106, p. 87.
(b) $818,600 Delaware County Ry. gold trust certificates under a trust
agreement between the United Power & Transportation Co. and the Real
Estate Title Insurance & Trust Co. of Phila., dated May 1 1899, and supplemental agreement dated July 26 1917, under which the United Power &
Transportation Co. has deposited with the said trust company, as trustee,
5.993 shares Delaware County & Philadelphia Elec. Ry. Co. Under supplemental agreement dated July 26 1917 the amount outstanding was reduced from $998,950 to $930750 and 1.125 shares of Reading & Southwestern St. By. stock. 4.925 shares of Roxborough Chestnut Hill &
Norristown Ry. stock, 9,775 shares of Schuylkill Valley Traction Co. stock
and 1.600 shares Media. Glen Riddle and Rockdale !Electric St. By. Co.
stock, were withdrawn from collateral. V. 106, p. 87.
The principal of both series (which are in $100. 1500 and 11.000 pieces)
Is due at option of holder on July 1 1949 and thereafter on any Jan. 1 or
July 1 at the option of the United Power & Transporation Co. For both
series, also, the semi-annual interest (J. & J.) and the principal are payable
in gold coin, free of tax, at the office of the Real Estate Title Insurance &
Trust Co. of Philadelphia, trustee.
DIVIDENDS.
-On Jan. 20 1900 a dividend of 50c. per share was paid,
also same amount July 16 1900; in 1901. Jan. 21, $1; July 10. $1; in 1902.
Jan. 20. $1; July 10. $1: in 1903. Jan. 20, $1: In 1904, Jan. 16, $2 66; in
1905. Jan. 24. $2 39; in 1906, Jan. 26, $3 10; in 1907. Jan. 24. $3 20: In

110

ELECTRIC RAILWAYS

[VOL. 115.

1908, Jan. 30. $3 31: none to July 1911. when $1 10 was paid; in 1912. Jan.
STOCK AND BONDSInterest. Outstanding. Maturity
Date.
30, $1 40; July 29, $1 41; in 1913. Jan.. $1 79; July, $1 26. In 1914, Stack $400,000 (350).
Jan., $1 52; July. $1 40. In 1915, Jan.. $1 54; July. $1 34. In lap', tst mtge $400,000 gold (3509! 1911
5 g M-N 15 34 0 0 0 May 15 1941
4 0.0 0 0
00,0
Jan.. 31 55; July, $1. 43. In 1917. Jan., $1 55; July. Si 23. In 1918.
and $1.000)c*tflInt. at Real Est. Tit. Ins & Tr., Phila..Trus
Jan.. $1 32; July. $1 20. In 1919, Jan.. 50c. In 1920. Jan., $1 95
Bonds are red, on any int. date at 105 and int.
In 1921, Jan., SI 60. In 1922, Jan:, Si 85.
EARNINGS.Gross
Net
Interest & Depre- Surplus or
Interest.
REPORT.From
Taxes,
Div.
Sur aft.
YearIncome. In
Income. Taxes. elation.
Deficit.
on 4s.
&c.
Calendar Year- Investments.
Paid.
Dirs. x1918
$205,420
$645 325.992 $6,458 def.$31,805
82.52,140
$36,433
$554,781
$265,937
1921
$271 .916
97
137.073
28.776
6,000 def. 1.248
24.024
252,140
26,683
509,528
1920
230,000
705
122.431
30,868
7.000 sur.
23.646
220
x No later published.
-P. Walter A. Rigg; Treas., T. W.
'Rigg; V.
OFFICERS.-Pres., John A.
Grooket Jr.; Sec. & Asst. Treas., J. W. doodwin; Counsel, R. L. Jones
ROAD.
-Owns and operates 16 miles of track within limits of
General offices, 411 Market St., Camden, N. J.
-V. 108, p. 380; V. 110, p. ?Wirt telphia. Also operates branch of Chester & Phila. flys. Co. from Bow
563; V. III, p. 75; V. 112, p. 471, 563; V. 114, p. 411, 628:
r)reek to Essington, 34 miles. Gauge, 5 ft. 224 in.
OFFICERS.
-Pros.. I. IT. Siverman; Sec., Alvin W. From: Treas.
MUNICIPAL SERVICE CO.
Benj. Wolf; Gen. Mgr., C. F. Ilewitt.-V. 92, p. 1375; V. 100, p. 47.5
ORGANIZATION.-Incorp. in Maine on Fob. 14 1912 as a holding co. V. 106, p. 2560.
In March 1917 acquired control of tho Citizens Traction Co. (which see
under "011 City, Pa."). In July 1917 acquired the Youngstown lic SubPHILADELPHIA & WESTERN RV. CO.
urban Ry. Co. (which see under "Youngstown, Ohio") by exchange of
ORGANIZATION. &c.-Incorpor. June 6 1907 in Pa. as successor to
stock and bonds, as per offer in V. 104, P. 2235.
he Phila. & Western
Also controls through stock ownership the Chester Valley Electric Co., Beate headed by Edw.RR .Co. In 1910 control was acquired by a synB. Smith & Co., of Philadelphia and New York
Coatesville (Pa.), Salem (0.) Lighting Co., Alexandria Co. (Va.) Light &
Owns one-half
Power Co., Staunton (Va.) Lighting Co., Valdosta (Ga.) Lighting Co., and road connects theof the capital stock of the Norristown Transit Co.. which
Lehigh Valley Transit Co. with the Philadelphia & WestYork Railways Co.(Pa.). The properties are operated by Day & Zimmer- ern (see "ROAD"
below), and the entire capital stock of the Philadelphia
mann, Inc., Philadelphia.
1t: Western Home Owners' Association and the Interborough Electric Light
Valuation.
-The valuation of the co.'s various properties was placed at St Power Co.
$7,100.000, by Day & Zimmermann in July 1920. V. 111, p. 294.
For proposed line from Phila. to Valley Forge. Pottstown. &c., of which
Outstanding. Maturity
Interest
Date.
STOOK AND BONDS.
he Phila. & Western Ry. Is to form the terminal trunk line, but take no
See text )art In finant•Incr the plan see V 101 p 924.
Common $2,000,000 4100)- ---$80.000
Q-J
Prof cum 6% $2,000,000($100) __ _ -_
1,575,400 May 22 1
Q-F
In 1918 entered Into a 10
-year contract with the Counties Gas & Elec.
10-yr deb bonds $1,500,0001 1918 6%
700,000 Dec 1 1928 Co. (a subsidiary of the United Gas Impt. Co.) under which the latter
can Red. at 101 on any int. date.
($500 & $1,000) 8
supplies the company with all its power.
3-yr. notes ($1.000)
532.000 July 1 1993
j 1920 8 J-J
sTook AND BONDS- Date. Interest. Outstanding. Maturity.
c*tflPhiladelphia Trust Co., Trustee.
3ommon 34.000.000($50)
34,000.000
First Lien Coll Trust Mtgef 1917 5 M-S 1
3,628,700 Mar 1 1912 Pref
32.000.0005% cum from!
payable in Boston and Philadelphia
$20,000,000 ($500 and $I..!Interest
Ian 1 1916 ($50)- _
Q-J
f
2,000,000 Oct.'22. 124
a* cot(Philadelphia Trust Co., Trustee.
000)
-rirst mortgage 34.000.0001 1910
5 g J-J
2,630.000 July 1 1960
Bonds.
-The 1st lien & coll. trust bonds are secured by $3.579.800 mtge
gold 41.000)
c*tf Int. at Phila. Tr. Co.. Phila., trustee, or at
bonds, $1,267,000 pref. stock and $2.283.100 common stock of subsidiary
Edw. B. Smith Co.. Philadelphia.
.
The coin. & pref. stocks were listed on the Phila. Stk. Exch. In May 1917.
companies. Additional bonds may be issued only for acquiring and placing
Bonds -Of remaining bonds $370.000 are in treasury. Subject to call
under the mtge. at least an equal amount of mtge. bonds of subsidiaries nos
outstanding, or. further, at the rate of 85% for those to be issued by sub- at 1025% and interest on any interest date on 60 days' notice.
Dividends.-First div. on pref. stock 124%-paid April 15 1916;
sidiaries for construction, but under certain earnings requirements. Sinking
fund of6% of net earnings of subsidiary companies after payment of operat- same rate quarterly since.
ing expenses, taxes and renewal reserves, less sinking fund payments on
EARNINGS.
-For years ending Dec. 31:
present sub. co's. rntges. from Mar. 1 1918 to Mar. 1 1925, and 5% there- Calendar
Gross Net (after Per. of Interest
Preferred
Balance,
after. $425,700 (incl. in amt. outstanding) held in co's. treasury. SubYear- Earnings. Taxes). Equip. Charges. Dividends. Sur. or Def.
ject to call in whole or part on any int. date at 103 and int. Additional 1921
$812,240 $279.399512,000 $131,500
$100,000 sur.$44,613
debentures may be issued only under certain restrictions. Tax refund in 1920
.
801,162 267.098 8,400 131.500 (5%) 100,000 sur.31,592
Penna. and Mass, to amount not in excess of laws in effect at time of isauPassengers carried during year ending Dec. 31 1921, 4,266,413, against
ance. V. 108. p. 171.
.
Notes.
-Are redeemable since July 1 1922 at par. Tax-free in Penna.and 1,319,980 in 1920.
ROAD.
-Operates a high-speed double-track road 17.33mlleslong between
Mass. V. III, p. 294.
-6% is being paid on pref. stock. In May 1922 an extra Philadelphia, Norristown and Strafford, entirely on private right-of-way
Dividends.
div. of % of 1% was paid. Initial div. of 1% on corn. stock paid in April and connecting with Phila. Rapid Transit Co.'s subway-elevated system at
19th & Market Streets, Philadelphia, and with Penn. RR. main line at
1914; in 1915, 3%; 1916 and 1917, 4%. None since.
Strafford Sta. An extension from Villa Nova into Norristown was placed
EARNINGS.-Comblned earnings of subsidiary companies (incl. Citi- in operation on Aug.
26 1C12. a 1 Dec. 1912 connection was made with the
zens Trac. Co. and Youngstown & Suburban Ry. Co.)for years end Dec 31
Lehigh Valley Transit Co.'s lines at Norristown via Norristown Transit Co.
Net. aft. Taxes. Depree'n. Fixed Chas. Bal.for Div
Gross.
12 Mos.and a through service established between Allentown and Philadelphia.
$790,884
$2,496,688
$148.851
1921
$43.5,931
3206,102 Total tracks, 38.19 miles; gauge, 4 ft. 85% in. 85-1b. rail; 25 passenger cars,
1920
601,763
137,317
2,549.766
378,979
85,467 2 exress and 3 flat cars, 1 snow plow; total, 31.
601,062
118,939
1919
2,105,880
355,793
126,330
OFFICERS.-Pres. & Gen. Mgr., J. L. Adams; Sec. & Trans., W. J.
-President. Geo. B. Baker V.-Pres.. Charles Day Sec . Curry. Offices,
OFFICERS.
Norristown, Pa.
-V. 109, p. 578, 981, 2357; V. 111, p.
John E. Zimmermann; Treas.. L. B. Harvey; Asst. Sec.. C. A. McClure; 693; V. 112, p. 1978,
2084; V. 114, p. 1652.
Asst. Treas., Joss W Swain Jr. General office. Land Title Tilde Phila
-V. 108, P. 171; V. 109, p. 371; V. 111, p. 294; V. 115, p. 308, 988.
FRANKFORD TACONY & 1-10LMESBUR0 RY.-A trolley road.
ORGANIZATION.-Incorp. In Pennsylvania on July 11 1910 as a reorganization of the Holmesburg Tacony & Frankford Elec. Ry., sold at
foreclosure June 1 1910. For terms of exchange of bonds of old company
for new company honda see V 01 o 276
Franchise perpetual
Fare Increase.
-In Aug. 1918 filed with the Penn. P. S. Comm. a new
tariff increasing fares from 5 to 6 cents
V. 107. p. 696. On Sept. 15 1920
two zones were established with a 6-cent fare in each. In Sept. 1921 was
auth. to charge an 8-cent cash fare with 8 tickets for 50 cents. V. 112,
p. 1250. In March 1922 was auth. to establish two zones and to charge
those rates in each. V. 114, p. 1407.
-In Oct. 1920 the co. filed with the Penn. P. S. Comm. a
Valuation.
valuation of $1,403.709 for its entire property. V. 111. p. 1752.
3TOOK AND BONDSInterest Outstanding. Maturitt
Date.
Stock $500,000 ($50)
First mortgage $500.000 gold) 1910
5 g J-J
400,000 July 1 1940
($500 and 31.000)..... _c*tnInt. at Tacony Trust Co., Phila.. trustee.
Bonds.
-Remaining $100,000 bonds are reserved for extensions and betterments. Bonds are not subject to call. They are listed on Phila. Stoct
Itxchange. V 93. p. 1(1.5.
Gross
Bond
Balance,
Earnings
Net. after
Revenue
Interest.
Surplus.
Taxes. &c.
Cal. Yrs.- Earns.
Passengers
320.000 def.$15,082
8193,278$4,8
:290132
1921
33.063.9.55
20.000
19,768
186,017
1920
2,999.113
20,000 def.19,627
174,041
1919
2,727.681
-Operates 17.29 miles of track between Philadelphia, Frankford
ROAD.
Bridesburg. Tacony, Holmesburg and Torresdale. of which 1 mile (in Phila
Is leased. 60-lb T and 80 & 105-ib. girder rails. Gauge 5 ft. 2 4 in.
28 motor Cars. 14 trail cars and 7 miscellaneous cars.
-P., Win. mines.
OFFICERS.-Pres. and Mgr., Meyer mcnamberg; V.
Sec. & Treas., Jacob M. Vogdes.-V. 98. p. 453; V 107. p. 696; V. 108. p •
2122; V. 111, p. 1752; V. 113, p. 1250: V. 114, p. 1-107.

PINE BLUFF, ARKANSAS.

THE PINE BLUFF CO.
Controlled by the Arkansas Light & Power Co. V. 108. p. 1512.
ORGANIZATION.-Incorp. Mar. 13 1912 in Ark. and owns and operates the electric light and power. street railway and water supply properties
in Pine Bluff. Franchises for street railway and electric-light system
extend to 1951; water franchise to 1947, subject to the city's right to purchase at 5-year intervals.
STOCK AND BONDS- Date. Interest. Outstanding.
Maturity.
Corn stock, $1.600.000 ($100)
$951.000
Apr'19. 1%
Pref7% cum $1,000.000
(8101 ____
931.000
Q-M
Oct.'22.14
First mtge $2,000.000 gold 1912 6 g J-J
1,831,000
Jan 1 1942
/1.000)
cs&r*_tt Int. in N. Y. New York Trust Co.. trustee.
Preferred Stock.-Pref. as to prin. and (Hy.; red. at 115 on 60 days
notice. A sum equal to 15% of gross earnings must be applied to maint..
renewals, &c., before paying corn. stock diva. and a depreciation reserve is
to be built from this charge up to $125.000. Prof. stockholders have full
voting power. See V. 103, p. 1119, 1413.
Bonds.
-S1,131 .000 of outstanding bonds bear 6% int.; rest 5%. Further
bonds may be issued only u p to 85% of cash cost of impts., add'ns or eats.,
bnder restrictions. Callable at 10.5 and int, on any int. date. Sinking
fund of 1% annually of bonds out Jan. 1 1915 to 1924:
% 1925 to 1934
and 2% thereafter. $560.000 of the outstanding bonds are registered as
tax-exempt in N. Y. State under the Secured Debt'Tax Law. V. 102, p.976.
Dividends.
-Quarterly div. of 14% on pref. stock were paid from March
1917 to and incl. Jan. 1918, In 1918, April, 1)4%; July, 1)4%. In
1919, Jan.. 124%: and since at same rate to and incl. Oct. 1922. Initial
div. of 1% paid on common in April 1919. None since.
EARNINGS.
-For 12 mos. ending Feb. 28 1922 and 1921:
Inc. Bon(1,&c.,Int. Bal.,Sur.
Gross.
Net.aft.Taxes. 0th.2
1921-22
121-M22°s.- $780,425
$305,452
$120,019
$122 72
9, 4
:940
1920-21
761,851
220.420
90,753
TRENTON BRISTOL & PHILADELPHIA STREET R V.
PROPERTY.
-Generating station of 9.250 k. w. capacity. 60 miles
-Incorporated in Pennsylvania as successor to tht transmission lines; water pumping station with 2 triple-expansion service
ORGANIZATION.
pumps of 4.000,000 gals. capacity each; 4 wells, said to be over 800 feet
Phila. Bristol & Trenton, sold at foreclosure on Aug 2 1909 to a bondhold
era committee. V. 89. p. 349. 780. For distribution of securities of nea deep: 2 concrete reservoirs of over 3,000.000 gals. capacity' 52 miles of
company by said committee to holders of certificates of deposit of predeces pole lines, incl. the street railway distributing system, and 4,457 meters;
.17 miles of water mains, serving 3,651 customers' water meters, and 339 fire
soy company in Dec 101.5 see v int p leas
-In Jan. 1920 filed notice with the Penn. P. S. Comm. of an in- hydrants; street railway with 95% miles of equivalent single-track of 70-lb.
Fares.
crease in fares from 6 to 7 cents. V. 110. p. 466. In Mar. 1921 was auth. T-rail: 21 "pay-enter" cars.
-V. 104, p. 664: V. 105, p. 1709: V. 106.
lay the P. S. Comm. to raise fares between Morrisville, Trenton, Torresdalt P. 397; V. 108, p. 1512; V. 111, p. 1567, 1956, 2229; V. 114, p. 1535.
and intermediate stations from 7 to 8 cents. V. 112. p. 1281.
Interest. Outstanding. Maturity
Date.
STOCK AND BONDSStock,($50)$410.800
PITTSBURG, KANSAS.
5 g M-S
413.8011 Mar. 1 1943
lit mtge $750:000 ($1.000,f 1913
JOPLIN & PITTSBUR01 RAILWAY.
$500 and VW) g____c*ttl Union Trust Co. of Md.. Halt., Trastee
-A trolley road.
-1
Remaining bonds are reserved for corporate purposes. Subject to call
ORGANIZATION.
-Incorporated June 10 1907 in Missouri. Took
as a whole on any int. date at 105 and mt. No sinking fund.
over the Pittsburg Railway & Light Co. and the Joplin & Pittsburg Street
EARNINGS.
-For years ending Dec. 31:
RI!. V. 85. p. 469. The Pittsburg Ry. & Light Co. was incorporated in
Taxes. Interest. Deprec.
Gross.
Net.
YearSurplus. Kansas in 1905 as a consolidation of the Pittsburg RR. and the Pittsburg
$106,159 $33,415 $5,270 $24,996 $5,280
1921
def.$2,131 Light & Power Co. In 1910 absorbed the Pittsburg & Kansas City Ry.
3.600
19.822
124,785
22.910
4,775 def. 11.463 (which company had acquired the Girard Coal Belt Electric Ry.), and all
1920
20.665
5,767
21.292
144,354
def. 5,140 bonds of that company were retired. Franchises in towns through which
1919
-Owns and operates 17 Si miles of track from Torresdale to Morris- road runs vary from 30 to 50 years and some are perpetual. Private right
ROAD.
Rails. 60 and Q0-11) girder and 72-1b. T: gauge 5 ft. 2 si inches of way outside of cities anti towns.
ville.
Fares.
-In Oct. 1920 fares on the co.'s lines were 3 cents per mile in Mis11 passenger cars, 1 freight car, 2 work cars, 2 snow plows, 1 engine and souri and
Kansas and 3.6 cents per mile for inter-State passenger traffic.
1 generator, 400 k.w. capacity.
The
OFFICERS.-Pres.. Carl N. Martin; V.-P., John Redwood: Sec & tended $1,050.000 6% gen, mtge. bonds maturing April 1 1920 were exfor 3 years at 7%
Mgr., M. J. Hill, Bristol, Pa.
-V. 100. P
Treas., W. E. Ervin Gen.
In July 1921 issued $278,500 bonds to pay for necessary improvements.
Compare V. 111, p. 1183.
1594 V. 101, p. 1975; V. 104. p.766; V. 110. p. 466; V. 112, p. 1284.
STOOK AND BONDSInterest. Outstanding. Maturity
Date.
-A trolley road.
PHILADELPHIA RAILWAYS CO.
Stock common $.5.000,000_
$3.300.000
-On Mar. 11 1919 Murdoch Hendrick was appointed Prof. rights $2.000.000 6%
Receivership.
receiver for the company. This road had been operated by the U. S Shipcum. from April I 1916
800.000
ping Board Emergency Fleet Corp. since Dec. 10 1918 under title "South- First martgaire 35.000.000 1910
2,800,000 Mch 1 1930
5 ts M-S
western Line." No further information.
($500 & $1,000).- -g es_ tf Harris Trust & Say. Bk Chic., & St. L
OROAN1ZATION.-Incorporated In Pennsylvania on May 13 1911 as
Co
Tr. -o trustees.
Co
General rnortg tic-11.050,000(
successor to the Southwestern Street Ry. sold at foreclosure Apr. 21 1911
.000 April I 1923
($500 & $1.000)
V. 92, p. 1375.
c5-tfiCentral Tr. Co. of Illinois, Chicago. Trustee.




ELECTRIC RAILWAYS

OCT., 1922.]

Stock.-Pref. rights are 6% cumulative from April 1 1916 and also share ir
earnings after common has received 6%. $95,600 have been retired.
-Remaining first mtge. bonds are reserved for extensions and
Bonds.
art
additions at 80% of cost, but only when previous year's net earnings and
twice interest on bonds out and to he issued. Subject to call at 103 in
interest on any interest date on 20 days' notice. $278,500 (included Is
amount outstanding) held in treasury. No sinking fund. Interest
Forbes &
payable at Harris Trust & Savings Bank, Chicago, Harris,eu, p 014
s
Co., N. Y., or any of the offices or E. El Itoilius e luns
in exchange for debentures of 1910.
General mortgage bonds were Issued
They originally bore int. at 6% and matured April 1 1920, but have been
extended for 3 years at 7%
-For calendar years:
EARNINGS.
Balance.
Gross. Net (aft. Taxes). Bond Int.
Yeardef.S9.151
$161,000
$151,849
$781,345
1921
sur.71,050
158,375
229,425
882,486
1920
-Owns and operates 105,48 miles of track, embracing some
ROAD.
local-street railway lines in Joplin, Mo., and all in Pittsburg. Kan aud
interurban lines connecting the two cities, and also Pittsburg with Frentenac
Dunkirk, Radley, Franklin. Arma, Croweburg, Mulberry and Girard and
Cherokee. Mineral, Weir City. Scammon and Columbus. 70-lb. rails.
It is proposed to extend the line into the Lawton-Waco zinc fields. 1 ys
miles, at an early date, and later on into Lawton.
-P. & Sec., John A. Prescott
-Pros.. osepS J. lIehn; V.
OFFICERS.
-P. & Gen. Mgr.. Bruce Cameron; Treas., 0. C. Snider; Aud. & Asst.
V.
Sec.-Treas., E. S. Bigelow. General office, 919 Baltimore Ave., Kansas
-V. 109, 2357;
City, Mo. Operating headquarters, Pittsburg, Kan.
V. 110, p. 1289; V. 111, p. 1183.

PITTSBURGH, PA.

111

.Total Issue.
Shares.
5(1.000 Preferred
Pittsburgh Railways Co
50,000 Common
Railways Co
Pittsburgh
"
182.260
Duquesne Light Co
"
40.020
Philadelphia Oil Co
"
5.000
ieventeenth St. Incline Plane Co
4,70500
,
Ittsburgh & Beaver Street Ry
Equitable Sales Co
••
1.6150(0)
squitable Auto Co
Equitable Real Estate Co
2.250
Co
Equitable Towing & Transportation
2.800
Josinos Oil Co
"
480
Slorningside Electric Street Ry. Co_ ____
"
['he Philadelphia Co. of West Virginia__ z20.000
00
221;507
leaver Valley Traction Co
Nino miscellaneous companies
All of the above shares marked thus, z, are in the hands of the Maryand Trust Co., trustee under the first mortgage, and collateral trust
iated March 1 1899. Those marked v (with the exception of 39,646
(hares Consol. Tract. common and 157 shares Consol. Trac. pref. held in
ateasury of Philadelphia (Jo.). are held as security for the collateral trust
sonds of 1901, and these latter bonds are also a second lien on the shares
narked z.
On Dec. 31 1921 the value of stocks and bonds of other companies
;voted was $61.324,612.
*SECURITIES OUTSTANDING (AS OF OCT. 1 1922).
Interest. outstanding. Last div.Ac
Date.
STOCK AN-1) BONDS$42.943.000 Oct '22. 114
?Jock corn $44,900,000($50)14,552,200 May'22,3%
6 M-N
____
ref stock $25.000,000 ($50)1
6% cum
1,442,350 Sept'22, 214
5 M-S
("ref stk. 5% non-com ($50) -_
1st Ref & Coll Tr M $100,000
15,634,100 Fob! 1944
6 g F-A
000 ($100. 3500 & $1,000 c* 1919
and $1,000r5 g tf ser."A" Guaranty Trust Co., N. Y., Trustee.
)
2,501.000 Mch 1 1949
6 g M-S
Phil Co 1st & Col Tr M $6,- is99
500,000 g ($1,000) c.__tt Maryland Trust Co. Baltimore, Trustee.
5 g M-N 13.527.000 Nov 1 1951
M & col tr $22,- 1901
Phil Co con
000.000 g ($1.000)__ __Olt Continental Trust Co., Baltimore. Trustee.
180.000 Oct 1 1929
5g
Union Gas Co., McKeesportl 1899
Union Trust Co., Pittsburgh, Trustee.
ig
1st mtge guar p &le f
Interest at Mellon Nat. Bank, Pittsburgh.
See text
150,000
6 g A-0
PIttst). & W. Va. Gas coil.) 1413
tr $1.500.000($1.000)c*_tf Int. at Union Tr. Co., Pittsburgh, trustee.

PHILADELPHIA COMPANY.
-Organized on May 24 1884. and was originally a
ORGANIZATION.
natural gas company. Operates under special Act of the Legislature ot
Pennsylvania (conferring many valuable rights and privileges) granted t(
Its predecessor, the Empire Co., In March 1871. Franchises of the corn
patsy and its subsidiaries, with a few minor exceptions, are perpetual or
for 999 years. Its business may be classed under the following heads:
-Philadelphia Co., through its own lines and
(1) Natural Gas and MI.
those of a number of cos, controlled by it, supplies nearly all the natural gap
consumed in the city of Pittsburgh and the manufacturing towns lying
along the Monongahela and Allesheny rivers. Company controls by
lease 361,088 acres of gas and oil lands in West Virginia and West
ern Pennsylvania. In 1913 the Pittsb. & West Virginia Gas (Jo. por
• This table does not cover such propers/ ss as arc separately reported
chased the Monongahela Natural Gas Co. by the issue or $1,500.000 coil
further on.
trust notes (see below). The principal natural gas companies controlled are.
Stock.-Stoelc authorized was increased in February 1899 from $7,500,000
The Philadelphia Co. of W. Va. Pittsburgh & West Virginia Gas Co
'referred.
to $21.000.000. of which $6,000,000 was 5% non-cumulative Monongahela Natural Gas Co.
Equitable Gas Company.
['he increase was made to acquire the stock of the Allegheny Co. Light Co.
Allegheny Heating Company.
acquired by Duquesne Lt Co.), Chartiers Val. Gas Co. and the cons. stock
During the 12 mos. ending Dec. 31 1921 company sold 22,936,204,900 if the Consolidated Gas Co.; also by exchange the United Trac. stock On
cu. ft. of natural gas and produced 248.701 barrels of oil. On Dec. 31 1921
Dec. 4 1901 stockholders auth. an increase to $36,000,000 through the issue
owned or controlled 1,798 gas wells and 3,742 miles of pipe. Also owned
if $15.000.000 additional com .stock . The increase was mainly for the peror controlled 169 oil wells.
ocise of acquiring the shares of the Consolidated Trac. Co. and the Soothe rn
-The Philadelphia Co. controls through stock Fraction Co. V. 73. p. 1112. In Aug. 1906 authorized common stock
(2) Electric Light & Power.
purchase of
ownership the Duquesne Light Co. which forms the electric light and was further increased to $36.000.000. mainly to provide for the By. V.82,
the Beaver Valley Traction Co.and Washington & Canonsburg
power division. See statement on a subsequent page.
stock was auth. to
about 650.16 m.of track.all operated D. 1323. July 22 1909 $5.000,00C additional common
-These comprise
(3) Street Railways.
Co. provide for the convertible feature of convertible debentures auth at alit
as a matter of convenience and economy) by the Pittsburgh Railways
same (line but any shares not so used to be available for the general pur.
(except this Clairton St. Ry.. Co., the Beaver Valley Traction Co. and the poses of the company. V. 88. p. 1314; V. 89, p. 225. On Dec. 28 1915
which are operated separately).
Pittsburgh & Beaver St. Hy. Co..
authorized amount of corn. stock was increased from $42,400,000 to $44.In Fob. 1902 acquired the elevated railroad franchises which wart 300,000, the new stock being issued to pay off floating debt. V 101.
granted to Messrs. Bigelow. Oliver, Quay and others. V. 74. p. 478.
1465* V.
In Fob. 1906 the United Rys. Investment Co of Sae Francisco acquired p. On Apr. 102.9 68
voted to authorize $25,000.000 ($50) 6%
control through purchase of $21,000.000 of the common stock, paying for 'ism prof 29 1912 shareholders
stock and $10.000.000 cony. debentures. Of the now stock
partly in Its own stock and partly in an issue of its coil
the stock acquired
36.000,000 was for exchange of existing pref. stock (upon basis of share for
an
trust bonds. in April 1907 acquired $3.200,000 more of the stock by
share and a cash payment to the co. of $2 50 per share) and $10,000,000
other issue of coll, trust bonds; now owns $24,555,000 of the corn. stock
see V. 113. p. 18881. The reSee statement of United Rys. Investment Co. under San Francisco and &Ise for conversion of convertible debentures [but
mainder is reserved for future requirements. See financial plan in V.
V. 82, p. 393, 988.
Listed on the New York Stock
V.
In 1912 the company made an adjustment of its accounts and relatione 94. p. 417. 488. also 16 94, p. 560
1918 the directors decided to issue $7,000,000
with the Pittsburgh Railways Co. It sold to the Pittsburgh [Sys. certain Exchange. On Dec.
issued up to Oct. 1 1922)
stocks of street railway and traction cos. included In the Pittsb. Rys. Co 6% cum. pref. stock, $6.506.000 ($6,475,950 Outstanding stock (other
of which is to be issued in exchange for: (a)
o v cr to th e vili ua $
cn d ain ut drn4din g e os (hoo a a w eys Co
a ertal so nu e
boya -a of
(paokb el ue
t otgims
sr
than that already owned by the Philadelphia Co.) of the Allegheny Heato
$8,265,0 0).ha
pref. stock
649,052) held by the Phila. Co. In return it received $10.000.000 par value ing Co. on the basis of 18 shares ($50 par) of the company's
of
6% debentures of the Railways Co.: interest on these debentures is payablt for each share of the Allegheny Co.'s stock; and (b) First mtge. 5s of the
the
only if earned and is non-cumulative. See report for year end. Mar. 31 Consolidated Gas Co. of Pittsburgh on the basis of 1814 shares
company's 6% pref. stock for each $1,000 bond. Under this plan the
1913 in "Chronicle" of May 24 1913, Page 1499.
maximum prin. amount of the Allegheny Heating Co.'s stock which can
Default and Subsequent Payment of Interest on Subsidiary Co.'s Bonds.
be exchanged is 2,090 shares (par $100), and the maximum prin. amount
Bee Pittsburgh Rys. below. Also Consolidated Gas Co. of Pittsburgh
of Consolidated Gas Co. bonds which can be exchanged is $5,000,000.
On July 1 1918 the bondholders of the United Trac. Co. filed a petition in Up to Oct. 1 1922 the company had acquired all of the stock and all but
the U. S. District Court at Pittsburgh asking that the Phila. Co. and the $14.000 par value of bonds. All of the $7.000.000 6% cumulative prefor payments due on
Pittsburgh !Sys. Co. be jointly held responsible
ferred stock not issued or used for this purpose is to be used for the genUnited Trac. Co. 5% bonds. V. 107. p. 83. In Mar. 1920 the U. S eral purposes of the company as the directors specify. V. 108. p. 683.
Circuit Court of Appeals refused to hold the co. liable for int, on t hes ks of March 31 1914. when the original offer for exchange of 5% prebonds. V. 110, p. 1290.
ferred stock for 6% preferred stock expired, $3.966,600 had been ex-On Feb. 14 1918 a test suit in equity was instituted by changed, leaving $2,033.400 of the old preferred stock outstanding. In
Suit Dismissed.
bondholders of the United Traction Co. to compel the company to recognize \lay 1916 further opportunity for exchange of stock to and including
liability for the principal and int, of all bonds issued by subsidiaries in the July 15 1916 was given (V. 102. p. 1897) and holders of $590,950 stock took
street railways system. V. 108, p. 879. On April 10 1919 Judge Chas. P
advantage of the offer, leaving $1,442.450 old pref. stock outstarfding.
Orr in the U. S. Dist. Court at Pittsburgh dismissed this suit. V. 108. p.
The Philadelphia Company stock has been listed on the New York Stock
1611. The bondholders' committee appealed, but the decision of the lower Exchange since October 1886, and is also listed on the Phila. Exchange
See application to the N. Y. Stock Exchange in V.70, p. 1198, and also ii
court was sustained.
-On May 25 1920 Judge Woolley in the U. S. Circuit Court of 'Chronicle" of Feb. 22 1902. In March 1911 stock was listed on the Part.
Decision.
Appeals at Phila. reversed the decision of the Federal Court at Pittsburgh. Bourse. V 92, p. 726.
The Phila.Co in Jan.1908 offered to guarantee 4% per an. from Aug 1
which granted the co. an order for the payment of 1195,115 from the re1907 on the $2.000.000 pref. stock of Consol. Gas Co.(entitled to 6% cum.)
ceivers of the Pittsburgh Street Ry. for money loaned to its subsidiaries
Judge Woolley held that the co. had no right to seek the return of money provided additional earnings be divided equally between the two classes o
stock. but pref. not to receive more than 6% in any event. Holders of 753
loaned to a co. In which it hold all the stock. V. 110. p. 2488.
of the $2.000,000 pref. stock having agreed to the proposition, the plan was
-On Feb. 13 1918 the Equitable Trust Co., of Wit
Equity Proceedings.
mington, Del. filed a bill in equity in the U S. District Court at Pittsbut gb adopted. V. 86. p. 54.605.
and its subsidiaries, asking the Corr(
against the Philadelphia Company
-The bonds of 1899 are listed on the Phila. and Pittsburgh Stock
Bonds.
to restrain the defendants from limiting the supply of artificial gas In l'itts- Exchanges. Of the $22.000.000 bonds of 1901. $6,500.000 are reservist
burgh, and bring about the payment of all matured and unpaid interest on to take up the $6.500.000 1st coll, trust bonds and $352,000 to eosin's(
the outstanding bonds of the Consolidated Gas Co V 106, p 822. This pref. stock of Consol. Traction Co. In 1918 the Brunot Island property
suit has been withdrawn and all except $14,000 bonds of the Consol. Gas which was under the lien of this Mtge. was sold to the Duquesne Light Co
Co. have been acquired by the Phila. Co. in exchange for the latter's pref. and the proceeds ($1,000,000) deposited with the trustee of this issue
stock. See Consol. Gas Co. of Pitts. on subsequent Page.
$500,000 was used for additions to the property, and out of the bal.
up to
Rates.
-In April 1921 the W. Va. P. S Comm. auth. an increase in rates ance $3,134.000 bonds of this issue had been acquired and retired
for
for natural gas, in that State. to 40 cents per.1.000 cu. ft. for industrial and 0.:t 1 1922. They are free of Pennsylvania State tax. For security
domestic consumers. V. 108, p. 1937. Effective July 11920, gas rates in the bonds see V. 102. p. 801. Listed on Phila. Stock Exchange.
Under a plan dated Feb- 27 1917 (see V 104. p. 953) sinking funds were
Pennsylvania wore increased from 37 cents to 47 cents per 1,000 cu. ft. V.
to retire and
110, p. 2488. In Oct. 1921 rates for gas to domestic, commercial and in- established beginning Mar. 1 and May 1 1918, respectively, a sum equal
year
dustrial consumers in Pittsburgh and vicinity were raised 5 cents per 1,000 cancel bonds by purchase or call, by applying thereto each
amount of such of the $6,500,000 outstanding 1st M
to 2% of the principal
cu. ft. V. 113, p. 1471.
and Coll. Trust 5s due Mar. 1 1949 and of the $15,148,000 Consol. M. &
The stockholders on Aug. 30 1919 approved an increase in the auth
to the plan. Assenting bonds
amount of common stock from $44,900,000 to $48,650.000. V. 109. Coll. Trust 5s due Nov. 1 1951 as agreed when drawn by lot for the sink.
are stamped as subject to call as a whole or
D. 1700, Compare V. 108. p. 2630.
for the consols
In Oct. 1921 the co. sold $16,000,000 1st ref. & coll. tr. 6% bonds ser. Ins fund at 10714 and Int. for the 1st M. and 10214 and int.M. and coil. tr.
0
"A" to retire $9,791.000 57 cony. debs. duo May 1 1922 (eliminated from 35.652.000 1st M. and coll. tr. 5s and $14.020,000 consot.
M. and coll. trust 5s and
table below) and to fund obligations incurred in part for capital expenditures 5% bonds were so stamped. but $565.000 1st canceled through operation
$1.621,000 consol. M.and coll. tr. 5s have been
and in part for retiring other funded debt. V. 113. p. 1888. 2080.
the sinking funds, leaving 15.037,000 and $12,399.000, respectively.
-See under Pittsburgh Railways Co. on a of
Proposed Reorganization Plan.
Stamped bonds have been listed on the Phila. Stock Exchange. In case the
subsequent page
bonds are called as a whole, they may be canceled or kept alive, as the co.
& Ref. Coll. Tr. M. bonds, see V. 108.
*SCHEDULE OF CAPITAL STOCK OF OTHER CORPORATIONS may elect. For security for the 1stamount sufficient bonds are reserved to
Is• 683. Of the $100,000,000 auth.
OWNED AND POSSESSED ON OCT. 1 1922.
refund, par for par, all underlying securities. Additional bonds may be
Total Issue
Shares.
issued for 70% and 75% of the cost of additions, improvements. &c. under
Consolidated Gas Co.of the City of Pittscertain restrictions. Ser. "A" limited to an issue of $25.000.000 6% bonds,
burgh(owns stock of Allegh. Illg Co.)- z80,000 Cemmon out of 80.000 incl.
the $16,000,000 outstanding and $9,000,000 add'I issuable against the
40.000
Preferred "
4.130
Oonsol. Gas Co. of C. of Pitts.
13,927 present properties. Ann. sink, fund of 3 cents per 1,000 cu. ft. of gas sold,
13.927
Equitable Gas Co.of Pittsburgh
used
5,975 minimum 3% p. a. of total 1st ref. & coll. tr. mtge. bonds issued, to be
5.975 Preferred "
of Pittsburgh
Equitable Gas Co.
bonds. Are call, all or in part at
26,000 Common "
26,000 for purchase or call and retirement of the 1
Peoples Natural Gas & Pipeage Co
years end. Feb. 1927: 10314 (luring next 5 years;
20.000 105 and int, during the 5
15,751 Common "
South Side Gas Co
10214 during next 5 years: 101 during next 6 years; and 10014 during last
"
37.500
Pittsburgh & W. Va. Gas Co
21'5 0
3 5) year prior to maturity, plus Int. in each case. Int. payable in N. Y.,
0
22 500 Preferred
do
do
state tax. V. 113, p
4.754 Becton. Chicago and Pittsburgh. Free from Penne p. 1891.
z4,751 Common "
&Ilegheny Heating Co
" 210.000 1888. Listed on N. Y. Stock Exchange. V. 114,
V233,117 Preferred
Consolidated Traction
l'ittsourgla & W. Va. coll. trust 6s mature *150,000 each Oct.
Foe
" 24e.e8o
s286.880 Common
nonsolidated Traction
67 Preferred "
60.000 !mom Oct. 1 1914 to Oct. 1 1923 incl. No s. fd., but subj. to call, any part
United Traction Co. of Pittsburgh




112

ELECTRIC RAILWAYS

[VOL. 115.

or all on any int. date at par and int. on 30 days' notice. Guar. p. & I. lo]
Philadelphia Company. $1,350,000 retired.
DIVS.1 '95. '96. '97. '98.'99. '00. '01.' ' '10. .11. '12. '13
02- 09.
Per cent
1 5 None
4 4X 5 53 6% Y.
IY 7 7 64 7
The foregoing dive. are for the corn. stock. The old 5% non-cum. pref
was created in 1899, and first semi-ann. paym't of 24% was made in Sept
1899 and have been regularly continued since then. 1st div. on new 6%,
mm pref.-3%-paid May 1 1913; same amount semi-ann. since to an
Incl. May 1922. On com in 1914. Feb.. 1%%; May. 1% %; Aug.,
%
The Nov. div. was paid in scrip bearing int. at 7%. The Feb. 15 1911
11v. was also paid in scrip (V. 100. p. 141). Both series of scrip were canoe
for payment on Feb. 1 1916 at par and int. V. 102, p. 345. In May 191/
4 cash div. of 1 % was paid; Aug..1 4%; Nov..1 4%. In 1916.
%
In 1917, 7%. In 1918. 6%. In 1919, 6%. In 1920, 6%. In61921
6%. In 1922, Jan., 14%; April, 1%%; July, 13%; Oct., 1%%.
Linear l'uz Dectsson.-v or decision &it supreme Uuur til Penuaylavnia
leclaring the linear tax ordinance invalid, see V. 80,p. 1729.
Application Denied.
-Attorney-General Todd of Pennsylvania on Oct
14 1907 denied the application of city authorities of Pittsburgh for permit
don to bring quo warrant° proceedings to forfeit the company's charter
lee V.85, p. 1083.
REPORT.
-Report for cal. years 1921, 1920, 1919, 1918 (Philadelphia
Co., Equitable Gas Co., Monongahela Natural Gas Co., Pittsburgh & West
Virginia Gas Co., the Philadelphia Co. of W. Va., and the Philadelphia
Oil Co.;reports for cal. years 1921, 1920 and 1919 include Allegheny Heating
Co.). Transactions between companies eliminated. Report for 12 months
ending Dec. 31 1921 in V. 114, p. 1287; V. 115, p. 180.
ReceiptsCal.Yr.1921 Cal.Yr.1920 Cal.Yr.1919 Cal.Yr.1918
Grom gas
From oil
1511,308,595 $16,566,669 $13,774,500 $13,109,967
Miscellaneous

The company is also in default in the payment of the following and subsequent rentals due subsidiary companies:
Due May 1 1922.
Due July 1 1922.
Consolidated Traction Co.
Wash. & Canonsburg Ry. Co.
Due April 1 1922.
Morningside Elec. St. Ry.
Claimsfor Rentals.-Sce V. 115, p. 760.
Bondholders' Protective Commutes.- See United Traction Co. of Pittsburgh below.
Committee for Southern Trac. Co. 1st M. c% Coll. Tr. 53.-T. H. Given.
H. 0. McEldowney, Jas. 0. Chaplin, F. R. Welsh, and R. S. Wilson,
Sec'y. Depositaries: Union Trust Co., Pittsburgh, Pa.; Farmers Deposit
Tru t Co., Pittsburgh, Pa.; Fidelity Trust Co.. Philadelphia, Pa. Deposits
,
oave been called for. V. 108. p. 785.
Valuation.
-In March 1918 the Public Service Commission appointed
a committee to ascertain the physical valuation of the co.'s properties and
to recommend fare rates which will yield it a fair return on its investment.
In Aug. 1918, under orders from the P. S. Comm., the receivers appointed a board of three (A. J. Kelly, Henry P. Haas and J. W. Cree) to
make the valuation. V. 107, p. 697. According to the report to the P. S.
Comm. in Aug. 1919, physical value of the co. in the opinion of engineers
for the city is $48,000,000, and in the opinion of engineers for the co either
$60,889.804 or $70,120,804. V. 109. p. 776. 1367. In March 1920 the
1'. S. Comm.fixed $62,500.000 as the value of the co.'s property, this being
a compromise between the above mentioned valuations. V. 110. p. 1290.
The city, however, carried an appeal to the Superior Court of Penna., but
this was withdrawn by agreement.
This was formerly the southern Traction Co., but in accordance with the
authority vested in it by the terms of its charter, the directors of the Southern Traction Co. on Dec. 30 1001 voted to change the name of the company
to the Pittsburgh Railways Co. The Philadelphia Company bad previously
acquired all the stock, common and prof.. of the Southern Traction, in
accordance with the terms in V. 73. p. 1112.
Gross earnings
The Southern Traction Co. was chartered in 1900 to take over, extend
$11,308,595 $16,566.669 $13.774,500 $13,109,967
Operations, taxes, &c._ 8.030,499 9,908.157
7,192,999
6.661,318 and operate the West End Traction lines, which were purchased in Aug. 1900
for $4,500.000.
Net earnings
Leases the Pittsburgh & Castle Shannon RR.for 99 years, rental being
$3,278.095 $6,658,512 $6,581,501 $6,448,649
Net earn,from 0th. oper.
115,000 per annum. See V. 81. p. 778.
35.380
70.650
Divs. and int. received
The following stocks (being in each case the entire issue) are owned;
2,183,113
2,154,988
1,868,606
2,119.029
Rents
50.000 shares common stock of the West End Traction Co.
457
406
Interest, discount, &c
50,000 " preferred stock of the West End Traction Co.
96,823
54.868
200,976
386.566
340.000 " common stock of United Traction Co. of Pittsburgh.
Total income
58,999 " preferred stock of United Traction Co. of Pittsburgh.
$5,593,412 $8,939,018 $8,651,540 $8,954.651
Deduct
8,000 " common stock of Allegheny Bellevue & Perrysville Ry. Co.
Paid leased companies
300 "
$155.39,2
"
Alionport & Roscoe Electric St, Hy. Co.
$224,092
$131,428
$21,558
Interest on bonds, &c_.. 2,157.142 2,253,942 2,325.029 2,097.992
120 "
"
Ambridge Dixmont & Emsworth St.Ry.Co.
New wells. lines, &c_ _ _ _
2.000 "
"
152,741
Ben Avon & Enasworth St. Ky. Co.
258,226
1,078,678
1,269.207
Depreciation of property
80 "
"
Cedar Avenue St. By. Co.
523,142
381.113
Discount taxes, &c., on)
600 "
"
Clairton Street fly. Co.
securities sold
5.000 "
F 236,681
East McKeesport Street By. Co.
"
314,042
356.479(
177.086
Interest, discount, &c J
30.000 shares common stock of Mt. Washington Street By. Co.
177,895
Approp'ns for sink. fund
1,590 "
"
400.000
Pittsburgh Canonsburg & Wash. By, Co.
366,667
••
Pittsburgh Express Co.
1.400 "
Total
$2.701,957 $3,450,302 54,781.423 $4,124,952 50.000 "
•• Pittsburgh & Charleroi St. By. Co.
Balance for year
$2,891.455 $5,488.716 $3,870.117 $4,829.699
200 "
Roselyn
fly. Co.
•• Superior Street& Shady Ave. St. By. Co.
Consol. Gas guaranty__ _
71.942
73,752
80 "
74,052
Ave.
74,076
Div. on pref. stocks
945,591
776,164
24 "
1,015.084
476.743
•• Tustin Street By. Co.
Div. on com. stock_ _(6%)2.576,364(6)2,576,364(6)2.576,434(6)2,576,364
20.000
Washington & Canonsburg By. Co.
480
Washington & Claysville Street By. Co.
Total
$3,593,897 $3.426.280 $3,665,570 $3.127.183
500
West Shore Electric Street By. Co.
•• Virginia Avenue Street By. Co.
Surplus for year
def$702,442 $2,062,436
120
$204,546 $1,702,516
400
McKees Rocks & Ingram St. By. Co.
LATEST EARNINGS.
-For 8 months ending Aug. 31;
300
McKees Rocks & Neville Isl. St. By. Co.
-Gross
Net
•• Crafton & °herders Valley Tract. Co.
120
Department1922.
1921.
1922.
1921.
•• Pitts. Banksville & Mt. Lebanon S. R. Co.
400
Duquesne Lt. Co.& sub.
100
elec. It. & pow. cos_a_$10,794,752 $10.749,629 $4,288,921 $3.710,917
Co.
•• Carnegie Bridge Suburban St. By. Co.
120
xBeaver Val. Trac. Co_ a
West Liberty &
417,300
455,862
103,055
35,222
160
Seventeenth St. Incline.
McKees Rocks & Allegheny Street Ry.
174
Plane Co_a
Bon-Air Street By.
25,715
29,734 loss 1,517 loss 9,837
120
Philadelphia Co. & sub.
Clairton & Blair Street By. Co.
168
natural gas cos_a
9,154,256
Pine Run Street Ry. Co.
7,053,093
3,898,656
1,983,988
Philadelphia Oil Co_a
637,028
768,303
Also owns 100 shares pref. stock of the Consolidated Traction Co.
444,800
443,071
By the terms of an operating contract, effective Jan. 1 1902, the Pitts-The above earnings do not include income from investments, and
Note.
pure) Rys. On assumed control of all the properties of the Consolidated
are before providing for int. on debt and other income deductions.
Trite. Co.. the United Trac. Co. of Pitts. and their underlying companies.
a Net earnings here given are after the deduction of taxes. x Inci
Street Car Subway Loop.
Pitts. & Beaver St. Ry.
-On July 8 1919 voters of Pittsburgh authorized
a $6.000,000 bond issue for the construction of a down-town subway loop.
OFFICERS.
-James D. Callery, Chairman of the Board; A. W.Thomp- V. 109. p. 371. Compare V. 108, p. 2330.
son, Pres.; James H. Reed, V.
Over-crowding Ordinance.
-P.• C. J. Braun Jr., Treas.; W. B. Carson,
-On Feb. 7 1911 Common Pleas Court No. 1
Sec.; C. S. Mitchell, Comp.; Alfred HurIburt, Gen. Mgr. Office 115 -endereu a decision restraining city from entering or prosecuting any suit
Sixth Ave., Pittsburgh. Pa.
-V. 111, p. 389; V. 112, p. 258, 2084, 2186, apon so-called over-crowding ordinance, enacted July 30 1910. V 92. p.463.
2306, 2410, 2749; V. 113, p. 533, 629, 731, 1471, 1888, 2080, 2186, 2407;
Decision.-For decision by Pa. Supreme Court. holding that city cannot
V. 114, p. 410,627, 1287, 1767, 1891, 2241; V. 115, p. 74, 180, 645.
c Meet toils for use of Point and Smithfield St. bridges. see V. 96 p. 1090.
Fare Decision.
-In July 1918 the Penna. P. S. Comm. held that the
STREET RAILWAYS.
State constitution does not auth. municipalities, through contracts with
railway cos., to take away from the people the right to regulate fares. This
(1) Pittsburgh Railways Co.
-A trolley road.
Receivers Appointed.
-On April 23 1918 H. S. A. Stewart. J. D. Callery lecision was handed down in the case of the Borough of Wilkensburg against
and C. A. Fagan (subsequently Messrs. Stewart and Callery resigned and the co. based on its notice of proposed increases in rates. V. 107, p. 402.
W.D. George and S. La Rue Tone are now serving in their places. V. 107, See also V. 109 p. 477; V. 111, p. 1370.
Fares.
p. 2377; V. 108. p. 80) were appointed receivers for this co. upon application
-On May 19 1918 the receivers announced the establishment of a
of the American Brake Shoe & Foundry Co. and the St. Louis Car Co., it new fare schedule which went into ',lea on June 20 1918. providing for a
-cent day fare on some of the longer routes and a universal 10-cent night
being alleged that revenues were insufficient to meet maturing obligations 7
and that there was immediate danger of the system being dismembered by fare. For complete details of this schedule see V. 106, p. 2650, 2758.
bondholders of the underlying corporations. V. 106. p. 1797
Effective Aug. 1 1919. the co. increased fares to 10 cents, tickets being
In March 1920 the receivers applied to the U. S. Court for auth. to pur- sold at the rate of4 for 30 cents. V. 108, p. 2630. See also V. 110. p. 1290.
chase 150 new cars at a cost of about $2,000.000, through the issuance of On Aug. 15 1920 ticket faros were raised from 74 cents to 8 1-3 cents
receiver's certificates secured by a car trust covering the new cars and cer- (3 tickets for 25c.). Cash fares remain at 10 cents. V. 111. p. 990.
Rates.
-In Sept. 1918 filed with the P. S. Comm. a new schedule nrovidtain of the cars now in use. V. 110, p. 1415. Authority had not been
ing [z:creased power rates effective Dec. 17 1918. Effective Nov. 15
p 1
granted to Oct. 1 1921.
Suit of Foreclosure.
-The Union Trust Co., as trustee for the $4,000,000 1920 the Penn.P. S. Comm..auth. a 40% increase in freight rates. V. 111.
let M. coll. tr. 5s of the old Southern Traction Co., was auth. on May 29
ivapeq.-V. 109. p. 877, 888, 982; V. 110. p. 1415, 2568; V. 113, p.
1919 by Judge Chas. P. Orr in the U. S. Dist. Court to foreclose and to take
the lines (embracing all lines to the West End) out of the receivership and 183, 293; V. 114, p. 2013.
Injury Judgments.
-See V. 114, p. 1767.
operate them separately. V. 108, p. 2331. Compare V. 108, p. 1512.
On July 14 1921 Judge Chas. P. Orr, in the U. S. Dist. Court, granted
STOCK AND BONDSDate. Interest.
Outstanding. Maturity.
Judgment in favor of the Union Trust Co. Both the city of Pittsburgh and Corn, stock. $2,500,000- -($50)
$2.500.000
the receivers opposed this action. See V. 113. p. 418. but compare V. Prof. 6%.cum.$2.500.000(350)
2,500.000
114, p. 198, 307. In Mar. 1922, however, an amicable settlement was Gen mtge. $20,000.000. red1 1913
5 A-0
2.539.000
1953
effected and the receivers ordered by the Court to file a report on the reat 105 & int guar p & I__tff Guaranty Trust Co., N. Y., trustee.
ceivership. See V. 114, p. 1288.
Income dabs. $10.000.000-tf 1913
10,000.000
Proposed Reorganization Plan.
-A plan for the reorganization of the
1913 6 M-S
136,000
system embodied in an agrement proposed to be executed by the City of Car trusts 9450.000 ($1,000)-{Int,. at co's office, Fidelity Title &See text
Trust Co..
Pittsburgh, the Philadelphia Co. and the Pittsburgh Rys. Co., was prePittsburgh, Trustee.
tf
sented to the Pittsburgh City Council July 25 1921. The plan contemplates Oar trusts 8110,000($1.000)_1. 1916
5 A-0
44,000
See text
the reorganization of the co. or the formation of a new co. to take over all
'Colonial Trust Co., Pitts., Pa.. trustee.
its assets. The new co. would be limited to $62,500.000 in the issuance of
Bonds.
-Of the gen. mtge. bonds. $4,000,000 are to retire
securities in substitution of securities now outstanding amounting to bonds and $13.481,000 (of which 53.461.000 in treasury) Southern Trac
are for extena..
$156.000.000. An annual return of 6% for 10 years is allowed on the new betterments and improvements. V.
444, 666. $1.968,000 are guarcapitalization, which is the value of the railways properties as fixed by the anteed. prin. & int., by Philadelphia 97, p. Philadelphia
Co.
Co. owns $571.000
P. S. Comm. (see below under "Valuation"). The city is given a voice in of gen. mtge. Sc outstanding and the $10,000,000 income debentures.
the control of the co. The proposed plan was printed and copies distributed Car trusts of 1913 mature Mar. 1 1914 to Sept. 11925, Incl.
$353,000 have
by the Municipal Law Dent. of the City of Pittsburgh. For full details of been retired. Car trusts of 1916 mature $11,000 annually April 1 1917
to
plan see V. 113. p. 533, 731. Nineteen boards of trade, chiefly outlying 1926. $66.000 have been retired.
districts entered into a joint protest against the proposed plan, but it is unGuaranteed BondsDate.
Interest. Outstanding. Maturity
derstood that no appeal will be made to the Superior Court. V. 114, p.1288. West Liberty & Sub. St. 1st' 1908
5 g J-J
1250.000 Jan 1 1938
V. 113, p. 1252. The above plan was approved by the Pittsburgh .City
M $250.000 ($1.000) g_ _tf I Int. at Colonial Tr. Co., Pittsb.. trustee.
Council, with certain amendments (see V. 113, p. 2721), and signed by the
Debt of Old Southern Trac. Co.
Mayor and A. W. Thompson, Pres, of the co., in Dec. 1921 (V. 113. p. 8o Trac 1st M. coil tr. g. $4.- 1900
5 g A-0
4,000,000 Oct 1 1950
2721). On Feb. 14 1922 the Penna. P. S. Comm. approved the plan.
000.000 ($1.000)----c*At Int. at Union Tr. Co., Pittsburgh, Trustee
V. 114. P. 855. No details as to the actual basis of the proposed financial West End 'Traction gen M, 1898
5 J-J
981.000 Jan 1 1938
readjustment are as yet available. V.114,p. 1288. See also V. 115,p.870.
tf Int. at Union Tr. Co., Pittsburgh, Trustee
-The company failed to pay the Jan. 1
Default-Subsequent Payments.
dnirrlprng loans of West End Traction
S
1918 interest on the bonds of a number of subsidiaries and the directors of Pittsburgh Craton & Mans.! 1894
5 J-J
176,000 July 1 1924
field 1st M
the Philadelphia Co., which was already a creditor of the Railways Co. for
tf Int. at Pittsburgh Trust Co., Pittsburgh.
a large amount, refused to make it further loans. All the Jan. 1 1918 Pitts & West End let M___t 1892 6 J-J
343.000
See text
loupons, except on the United Traction 5s, were paid in March 1918.
Bonds.
-The Southern Traction mortgage cannot be called before
V. 106. p. 930. 1232. Coupons on the United Trac. 5s have since been paid maturity. Philadelphia Company owns $126,000. The Farmers' Deposit National Bank of Pittsburgh offered the bonds for sale
from time to time. V. 113. p. 2722: V. 114. p. 80.
Holders of $313000 Pittsburgh & West End Passenger By. 1st Mtge. in Oct. 1900. See V. 71. p. 864. Of the portion of the 5s of 1898 of
Sc duo July 1 1922 were asked to convert their holdings into West End the West End Traction still unissued.4519.000 are reserved to retire under!vine Ponds. Bonds of the West Liberty & Rub. St are guaranteed hy
Traction gen. mtge. 5s, due Jan. 1 1938. For details see V. 115, p. 183.
We have been officially informed that on Oct. 1 1922 the company was Pitts. Ry. Co.: they are not subject to call and have no sinking fund. The
in default in the payment of interest on the Pittsburgh By. gen. mtge. Pittsburgh & West End 1st Mtge! Sc matured July 1 1922 but the co. is
bonds since Oct. 1 1918.
taking advantage of 1 years' grace at 6% provided for in mtge.




d

• •

6.

66
46

OCT., 19221

ELECTRIC RAILWAYS

113

The United Traction receives the entire earnings of the North Side
-For cal. years 1921 and 1920:
Receiver's Report.
Pitts. A. & M.and Second Ave. traction companies, subject only to annual
1920.
1921.
Calendar Years311,863,881 323,119,360 charges of $259.800.
Passengers carried
$21,541,312 $21,322.503
-On preferred dive, at the rate of 5% annually were paid to
Dividends.
Operating revenue _
17,661.992 18,754,795 July 1914. Jan. 1915 div. passed. V. 100. p. 55. None since. See
Operating expenses and taxes
each six
$2,567.708 remarks above. On common. %% paid July 2 1903 and
$3,879,320
Operating income
172.292 months to and including Jan. 1912. In July 1912, q%. None since.
190.631
Non-operating income
new United Traction mortgage is limited to $10,000.000
Bonds.
-The
$4,069,951 $2,740,000
Gross income
3.424.498 bonds cannot be redeemed befpre maturity; Maryland Trust Co. of Bait3.720.463
Fixed charges
more is trustee. Of tttese bonds, $5.196.000 are reservea to retire the divi$349,488 def$684,499 sional bonds above mentioned. Bonds are listed on the Philadelphia and
Receivers' net income, surplus
Less verdicts, settlements, pro-receivership dam225.559 Baltimore Stock Exchanges.
186,498
age claims
ROAD.
-Controls 236.83 miles of track in all.
$162,990 def$910,058
Net income
-Not now an operating company
REPORT.
-See Philadelphia Company above.
LATEST EARNINGS.
-P., J. H. Reed; Sec., W. B.
OFFICERS.-Pres., A. W. Thompson; V.
-The Pittsburgh Railways Co. operates 598.75 miles of track in
ROAD.
Mitchell. Office, PittsPittsburgh and outlying boroughs. Equipment consists of 1.437 closed Carson; Treas.,0. J. Braun Jr.; Comptroller,0.S. Sons. Baltimore, Md.contract burgh, Pa. Financial agents, klecander Brown &
cars,. 248 open cars and 253 miscellaneous cars. Has long-time
V. 111, p. 2141; V. 113, p. 2722; V. 114, p. 80, 1288, 1892.
with Duquesne Light Co. for supply of light and power.
-Chairman of Board, J. D. Callery; Pres., Arthur W.
OFFICE RS.
LINES CONTROLLED BY UNITED TRACTION 00. OF PITTS.
Thompson; V -P., J. II. Reed: Gen. Mgr., P. N. Jones: Sec. W. B. Carson:
-V. 114, p. 1288, (a) Federal Street & Pleasant Valley Ry.-Trolley.
Treas., C. J. Braun Jr.: Comptroller, C. S. Mitchell.
183, 514, 760, 870.
1652, 1767, 1891, 2013, 2242, 2718; V. 115, p.
-See Pittsburgh Railways above.
Default and Subsequent Payment.
(a) Mount Washington Street Ry.-A trolley road.
-Incorporated Feb. 20 1868, and has since consonORGANIZATION.
ORGANIZATION.-Incorporated in Pennsylvania on Oct. 8 1901 and
companies. The franchise is perpetual.
later absorbed the Sycamore Street Ry. Also owns the entire ($500,000) lated its various subsidiary
The North Side Traction Co. on July 20 1896 leased the Federal Street &
capital stock of the Mount Washington Tunnel Co. Stock of the Mount
its debt, and agreeing to pay as
Washington Street Ry. is owned by the Pittsburgh Rys. The road is Pleasant Valley for 960 years. assuming
$70.000 yearly in cash, payable Jan. 15
leased to the Pittsburgh Railways Co. for 996 years from April 1 1903 for rental all taxes, rentals, &c., and also
and July 15, equal to 5% on the $1,400.000 stock, of which it owns $750,all charges, including bond interest.
Date. Interest. Outstanding. Maturity 000. V 63 p 31. 76. 049.
STOCK AND BOOS0
,
The $92.000 5 7 bonds of the Federal Street & Pleasant Valley. due July 1
51.500,000
Stock, $1,500,000 ($50)had not been taken up as of
1,500,000 April 1 1933 1919, were extended for 2 years at 6%. but the rate of 6%.
5 g A-0
let mortgage and col tr.1 1903
paid at
$1,500,000, gold (51,000), Penn. Co. for Insurances on Lives & Grant. Oct. 1 1922,1but interest was being had been made for the retirement or
As of Oct. 1922 no arrangements
Annuities, Philadelphia, Trustee.
log
and int___c*.t
guar, prin
bonds maturing Nov. 1 1920.
Bonds are guaranteed, principal and interest, by endorsement, by the extension of the 4 issues of underlying
Interest. Outstanding. Maturity.
Date.
STOCK AND BONDSPhiladelphia Co. Interest payable in New York. Pittsburgh and Phila.
See text
$1,400.000
5 J-J
bonds cannot be called. The stock of the Stock (par $25),full paid _____
delphia. No sinking fund and
1,078.000 May 1 1942
5g
Tunnel Co. has been pledged as collateral under this mortgage. See Oonsol mtge. $1,250.000. g.f 1892
(S1.000).00 28 miles__c•tflInt. at Fidelity Title & Tr. Co., Pittsburgh.
V. 76. p. 1143.
-Operates 12.765 miles of track from Pittsburgh to Mount
ROAD.
Underlying mortgages
-V.80, p. 222: V. 108. p. 379.
92.000 July 1 1921
Lebanon. Gauge, 5 ft. 24 Inc.
Ii
Fed St & PI Val mtge
10.000 Nov I 1920
5
t 890
Allegheny & Bell let mtge_if 1889 6
(s) Washington & Canonsburg Ry.-A trolley road.
27,000 Nov 1 1920
5
tf 1890
Allegheny St 1st mort
-See Pittsburgh Railways above.
Default and Subsequent Payment.
1,000 Nov 1 1920
5 J-J
Perry St 1st mortgage
tf 1890
Stock all owned by Pittsburgh Rys.
37.000 Nov i 1920
5 J-J
tf 1890
-Incorporated in Pennsylvania on June 2 1902. Troy Hill 1st mortgage
ORGANIZATION.
Washington Electric Street Ry. In Jan
for $1.250.000, of which
Successor on June 2 1902 to the
-The consolidated mortgage of 1942 is
Bonds.
1909 Pitts. Rys. began operating the property. Franchises perpetual. the balance unissued is in the hands of trustee to retire all the other issues;
Leased in 1907 the Pitts. Canonsburg & Wash. St. Ry.
mortgage trustee is the Fidelity Title & Trust Co., Pittsburgh. All the
Maturity
Interest Outstanding.
above issues are guar.. p. & I., by United Traction Co.
Date.
STOCK AND BONDS$1,000.000
Stock $1,000,000 ($50)ROAD.
-Embraces 34.39 miles of track (including sidings) on about 17
125.000 Feb 1 1927 miles of street.
1897
5g
Wash Elm St Ry 1st M
-V. 106. P. 85. 929. 1230.
465,000 July 1 1932
5g
$650,000! 1902
mortgage
First
-A trolley road.
(b) Pittsburgh & Birmingham Traction.
c&r tf tint. at Colonial Tr. Co., Pittsburgh, Truster
gold
185,000 Dec. 1 1943
5 J-D
Second mortgage $500.000( 1913
On Jan. 1 1902 leased for 999 years to the United Traction Co., which has
at 102 & Intl Int. at office of co. or Colonial Trust Co.. agreed to pay all interest, taxes, &c., and also 5150.000 annually as rental.
($1.000); red
tf t Pittsburgh, Trustee.
op 10 weeks' notice
Lease is guaranteed by the Philadelphia Co.
-On 1st mtge. bds. a sinking fund of $5,000 per annum became
Bonds.
-Incorporated Aug. 15 1889; Nov. 19 1889 leased
ORGANIZATION.
$60.000 have been canceled, $125,000 of the new
operative after 6 years;
P. & B. Passenger Ry., Including South Side NAL Ely. Co. Also leased
bonds are reserved to retire the bonds of the Washington Electric Street Ry
and operated from Dec. 1891 Pittsburgh Incline Plane Co. and Mt. Oliver
The 2d mtge. bonds outstanding are owned by Pittsburgh Rys. Co.
Allentown Traction Co.
-Operates 16.64 miles in and between Washington,Tylerdale Incline Plane Co.; operated also Birm. Knoxville &
ROAD.
West Liberty
-V.85. p. 532; V. 87, p. 348; V.88, p. 628; V. 106. p..88 In Aug. 1900 purchased the $400.000 capital stock of the p. 343.
and Canonsburg.
Street Ry. and constructed a line to Mt. Lebanon. V. 71,
(c) Pittsburgh Canonsburg & Washington RY.
ex est. Outstanding. Maturity •
Date.
STOCK AND BONDS-See Pittsburgh Railways above.
Default and Subsequent Payment.
See tex
Text
$3.000.000
-In 190/ was leased for 30 years to the Washington Stock 350)
ORGANIZATION.
1,500,000 Nov 1 1929
5 g M-N
p & i by United 1889
1st M guar
& Canonsburg Ry.. which guarantees bonds, principal and interest.
cstf Fidelity Trust Co. of Philadelpnia. Trustee
Tr Co (51,000)
Interest. Outstanding. Maturity
Date.
STOCK AND BONDS10.000 Oct. 1 1953
5 A-0
The So Side Pass Ry 1st M 1913
Stock (1,590 shares, all owned by Pittsburgh Rya.).
($1,000) not sub to call._tf Int. at Colonial Trust Co., Pitts., Trustee
5 J-J
$750,000 July 1 1937
1907
Guaranteed Bondslet M.$750.000 ($1,000) gold i Safe Deposit Trust Co.. Pitts., trustee. lot Etirm Knox & A 1st natio,' 1891
500.000 Sept 1 1931
6 g M-8
tf t at company's office, Pittsburgh.
gold, interest guarantee& _IFIdelity Trust Co., Philadelphia, Trustee.
5 J-D
89,000 Dec. 1 1913 Brownsville Ave St Ry 1st M_ 1896
Second mtg $500.000 ($1,-f 1913
300.000 Aug 11926
5 F-A
000); red at 102 & int ont Int. at office of co., Pittsb., or Safe Deposit West Liberty St Ry 1st mtge...111900
400.000 July 1 1930
5g
& Trust Co.. Pittsb. Trustee.
10 weeks' notice
1 Pittsburgh Trust Co., Trustee.
date;
on any int.
-let mtge. bds. are redeemable at 105 and Int.
Bonds.
ROAD.
-Operates 30.44 miles of track, laid with 90-lb. rails.
guar., p. & L. by Washington & Canonsburg Ry. and Pittsburgh Rys.
-V. 72, p. 776
ANNUAL REPORT -Not now an operating company.
Second mortgage bonds outstanding are owned by Pittsburgh Rys. Co.
-Operates 12.02 miles of track between Canonsburg and
ROAD.
Lines Leased to Pittsburgh & Birmingham Traction Co.
-lb. rails.
-V. 106. p. 87. 1231; V. 108, p. 2630.
Castle Shannon. 80
Ry.-Owned. teasel and operated by Pittsburgh &
Mt. Oliver Incline
Birmingham Traction Co. Stock,$100.000. Bonds. let M.tis,(cot) M.&
-Bonded debt.
(d) Other Controlled Properties.
Under date Dec. 1 1913 the following named companies controlled by the IV:'due May 11954. $41,500. Red. at 105 and int. Colonial Trust Co..
Pittsburgh Ry. Co., as shown above filed mortgages to secure issues of Pittsburgh, trustee.
-See Pittsburgh Railways above.
Default and Subsequent Payment.
1st M.5% gold bonds (int. J. & D.c•tf) due Dec. 1 1943 (par 21,000) but
callable, all or part, at 102 and int. on 10 weeks' notice. The outstanding
-Leased for 999 years to Pittsburgh & BirmPittsburgh Incline Plane.
amount in each case is owned by the Pittsburgh Rys. Co.
ingham Traction Co.. at rental equal to interest on bonds and 10% on
Trustee.
Total Auth. Total Issued.
Name of Companyfor some time, balance
Cedar Avenue St. Ry.Co
$40.000 $39.000 Col. Tr. Co., Pitts)), 5150.000 stock, free of tax; dividends were 9% yearly
some Min prior to Ian 1 1902
45.000 Col. Tr. Co., Pitta's, being carried to surplus, but were Increased 1 1919 and the $100.000 2d M.
100,000
Bon Air Street Ry. Co
85,000 Col. Tr. Co., Pittsb to 10%. The $150,000 1st M.6s due July Co.
St. Ry. Co
100.000
West Shore Elec.
65.000 Col. Tr. Co., Pittsb' 6s have been purchased by the Philadelphia
.
Superior Ave.& Shady Ave.St.Ry. 65.000
Maturity,
Interest. Outstanding.
STOCK AND BONDS- Date.
Allem:port & Roscoe Elec. St. Ry 500,000 127.000 Union Tr. Co.,Pitts
See text
$150.000
Q-P
Stock (par $100) full paid____
(2) United Traction Co. of Pittsburgh.
150.010 July 1 1919
6
-In view of the default by let mtge ($1,000 each)___c•tt 1889
Default-Bondholders' Protective Committee.
100,000
6%
mortgage
the Pittsburgh Railways in payment of the Jan. 1 1918 interest on the Second
-Road extends from Forty Hill. Pittsburgh. on Bradford Street.
ROAD.
United Traction Co. 5% bonds duo in 1997 (subsequently all back int. on
-V. 106. p. 87; V. 108, p. 2529.
this issue was paid) and on the bonds of various other subsidiary com- to Washington Avenue, on top of hill.
panies (all back int. on latter also subsequently paid), the following com(c) Pittsburgh & Charleroi Street Ry.-A trolley road.
several bond Issues affected. In
mittee was formed to protect the
Stock owned by Pittsburgh Rys.
Feb. 1919 the scope of this committee was widened so as to include all
-Incorporated April 19 1902 and took over the Ch arORGANIZATION.
the bonds issued by corporations included in the system. V. 108. p. 681.
Chairman, Thos. S. Gates; Geo. IT, Frazier, J. Rutherford McAllister, leroi & West Side Ry.; is leased to the United Traction 00. for 900 years
B. Howell Griswold Jr., John H. Mason, A. A. Jackson. 0. S. W. Packard from May 15 1902. Rental is $1.000 per year. Bonds are guaranteed,
and A. C. Robinson; Sec. J. 0. Wallace. 415 Chestnut St., Phila. Deposi- principal and interest, by the United Traction On and the Philadelphia Co.
.
taries: Philadelphia Trust Co., Phila.; People's Says. & Tr. Co. of Pittsb.
The $55.000 1st M. 5s of the Charleroi & West Side Ry.. due Sept. 1
and Safe Deposit & Trust Co.of Baltimore. V. 106, p. 1232; V. 108, p. 684 1919, were extended for 2 years at 6%, and again to Sept. 11922, but had
ORGANIAATION.-Incorporated on July 27 1896. and in June 1897 not yet been taken up as of Oct. 11922.
purchased all the property and franchises of the Second Ave. and North
Interest, Outstanding. Maturity.
STOOK AND BONDS- Date.
Side traction companies, and secured control of the Pittsburgh Allegheny &
$2.50055.00.0000
Manchester through a lease for 950 years and the purchase of its stock. Stock $2.500.000($50)_
Sept 1 1922
6%
V.65. p. 27. The Federal St.& Pleasant Valley Passenger Ry.is controlled Charleroi & West Side let WI_tf
2,445.000 May 1 1932
5 g M-N
through Its lease for 950 years to the North Side Traction. In 1902 leased Pitts & Charleroi let M $2.-f 1902
Int. at Union Tr. Co., Pittsburgh. Trustee.
500.000 gold ($1:000) _Ott
the Pittsburgh & Birmingham Traction Co., East McKeesport Street Ry.
622.000 Dec 1 1943
5 J-D
and the Pittsburgh & Charleroi Street Ry.
Pitts & Charleroi 2d NI $1,- 1913
000.000 ($1.000) red at 102 Int. at company's office or Union Trust 0o..
In March 1899 the Philadelphia Co. offered to give $6,375,000 of its com& int. on 10 weeks' noticetf I Pitt bur h Trustee
mon stock in exchange for the $17.000.000 common stock of the United
nonds.-Of the Plush. & Charleroi let M. bonds. $55,000 Is reserved to
Traction. See V. 68, p. 479 In Oct. 1899 exchange of stock under this
Man was begun and all shares have been acquired and are now owned by retire a like amount of Charleroi & West Side bonds. See V. 74. p. 1039.
Second mtge. bonds outstanding are owned by Pittsburgh Rys. Co.
Pittsburgh Railways.
On Jan. 1 1902 the Pittsburgh Railways Co. took over this property.
-Operates a road between Pittsburgh and Allenport, by way of
ROAD.
and, under the terms of the operating contract, agrees to pay current divi- Castle Shannon. Finleyyllie, Monongahela City and nharlerai, a distance of
dends of 5% on the pref. stock. The agreement was until Jan. 1 1907 and 50.268 miles. Completed in Sept. 1903.-V. 74, p. 1039, 1090; V.76, p.752
thereafter until terminated by three months' notice from either party.
(d) Allegheny Bellevue & Perrysville Ry.
The Jan. 1915 and subsequent dive. on the pref. stock were passed. In
0RGANIZATION.-Incorporated In Pennsyivania on Feb.81900. EnFeb. 1917 the management offered to each pref. shareholder of the United
to the United Traction
Traction Co. 66 2-3% of his holdings in a 5% mortgage bond of the Pitts. tire stock is owned by the Pittsburgh Rys. Is leased 10% on the stock.
burgh Rys. Co.. to be guar.. p & I., by the Philadelphia Co.; or. as an Co. for 905 years from March 1 1905 at a rental of
Interest. Outstanding. Maturity.
$25 In cash for each share of stock (par 250). V. 104,
BONDS- Date.
alternate proposition,
STOOK AND
See text
$250.000
10%
P.665, 1389. 59,066 shares were acquired.
Stock $250.000 ($50)
500.000 April 1 1935
5 g A-0
Interest. Outstanding. Div.or Mat. let mtge $500.000 gold guar( 1905
Date.
STOCK AND BONDSctflPenn. Co.for Ins. on L.& G. A-Phil-Trust.
J-J
o$17.000,000 July'12,q%
31,000)
Corn stock,$17.000,000 ($50)
3,000.000 See text
5 J-J
Pref. cum, $3,000.000 ($50)- -Are guaranteed. prin. & int., by Phila. Co. Interest is payable
Bonds.
4.804.000 July 1 1997 at company's office or by Brown Bros. & Co.. N. Y. and Phila. No sink5 g J-J
United Trac gen in, gold,' 1897
$10.000,000 ($1.000)__cstf1Maryland Trust Co., Baltimore, Trustee. ing fund and bonds are not subject to call.
Interest Is payable in New York City. .
-Operates 16.688 miles of track from Allegheny, via Westylew.
ROAD.
1.500.000 Oct 1 1930
5
Pitts Alleg & Manchester_ _tf
214 in.
2,024.000 Dec 1 1934 to Bellevue. Gauge. 5 ft.
5 g J-D
Second Ave Trac mtge, gold( 1894
Maryland Trust Co., Balto., Md. Trustee.
0_01
($1.000)
(e) Ben Avon & Emsworth Street Ry,
N. Y.. or A. Brown & Sons. Baltimore.
at Brown Bros. & Co.Inters
-Incorporated in Pennsylvania on June 17 1963.
ORGANIZATION.
414.000 July 1 1933
2d Ave Traction Co mtge_ _tf 1893 5 J-J
Entire stock is owned by the Pittsburgh Rye. Is leased to the United Trac1,585.671
Loans payable Dec 31 1921_
Pittsburgh for 995 years from April 11908 at 5% on stock.
tion Co. of
• All owned by Pittsburgh Rye. Co.




114

ELECTRIC RAILWAYS

[V or- 115.

STOOK AND BONDSInterest. Outstanding. Maturttio
Date.
debt of $180.000. In May, 1806 stockholders wore allowed to exchange
Stock $100,000 ($5))
A-0
)
$100000
See text their stock for receipts, redeemed Oct. 1 1896 at $37 per share in 6% pre1st mortgage $300,000 gold 1906
5g
300,000 April 1 1930 ferred stock of Consolidated Traction Company at par. 52,635 shares out
guar
tf Fidelity Title Sz Trust Co., Pittsb., Trustee
of 80,000 have been so exchanged. See V. 62, p. 1087.
Interest at Co's. office.
STOCK AND BONDS- Date,
Interest. Outstanding. Maturity.
2d M $100.000 ($1,000) sub 1913
5 J-IS
79.000 Dec 1 1948 Stock
($50)fully paidText, $3.000,000
See text
to call at 102 and int on 10( Int. at co's office or Fidelity Title & Trust
"(Div. payable at Fidel. Tit. & Tr. Co.,Pittsb.
weeks' notice
U) Co., Pittsburgh. Pa., Trustee.
c*tti 1890
1,370.000 July 1930
5 J-J
Bonds.-ist M. bonds are guaranteed. prin. and int., by the Philadelphia 1st mortgage
(Fidelity Title & Trust Co., Pitts., Trustee.
Co. 2d M bonds outstanding are owned by Pittsburgh Rys.
Dividends were 5%, J J, but in 1893 and 1894 none paid; in 1895, 4%:
ROAD.
-Operates 5.3332 m. of track from Avalon to Dlxmont. Gauge,
,n 1896. none, in 1898, 3%; in 1899 and since, 4% yearly.
5 ft. 2% in.
ROAD.
-At time of lease in 1896 controlled 11 companies, having at
(f) East McKeesport Street Railway.
present 37.1995 tulles of road.
-V.62, p. 948, 1087; V. 106. p. 85, 1230.
Entire stock Is owned by Pittsburgh Railways.
(e) Fort Pitt Traction.
-See "Consol. Traction Co."
ORGANIZATION.-Incorp. In Penna.. on June 26 1899. Is leased to
United Traction Co. of Pittsburgh for 900 years from Jan. 1 1902.
(f) Monongahela Street Railway.
Stock. $250,000 ($50); 1st M. 5% gold bonds, $250.000 (tf) ($1.000).
ORGANIZATION.
-On
Dated Dec. 1 1399. Due Dec. 1 1929. Int. J. & D. at Fidelity Title & ichenley Park & Highland, May 26 1898, absorbed by consolidation the
Homestead Sr Highlands, Braddock & HomeTrust Co.. Pittsburgh. trustee. Miles. 8.27.
stead and the Braddock & Duquesne.
Consolidated Traction.
(3)
In Dec. 1901 the Monongahela Street By., the Wilkinsburg & East
-Trolley road.
ORGANIZATION.-ChartertxI July 15 1895. The company absorbed Pittsburgh Street By., the Wilkinsburg & Verona Street Ry. and the
the Fort Pitt Traction Co. (a consolidation of Fort Pitt Pass. Ry.. Gross Pitcairn & Wilmerding Street By. (construction of latter two roads comStreet Ry., Highland Park Street Ry. and Negley Street Ry.). and assumed pleted during the year 1903-04), were merged in the Nlononghela Street By,
Its leases of the Citizens' and the Allegheny Traction companies, and has and stock was increased from $1,000.000 to $7,000,000. See V. 73.
acquired the control of the Pittsburgh, the Duquesne and the Central Trac- p. 1112. On Jan. 1 1902 the Monongahela Street By. VMS leased for 999
tion companies. In 1902 leased the Monongahela St. Ry. and the Sulam
, years to the Consolidated Traction Co. for interest, taxes, &c., and an
ban Rapid Transit Street Ry. Owns all stock of the Ardmore Street Ry.. snnual rental beginning with $165.000 the first year and increasing $18.750
and guarantees its bonds, principal and interest. V. 88, p. 882.
each year until $315.000 is reached. Lease is guaranteed by Philadelphia
On Dec. 4 1901 the stockholders of Philadelphia Company approved Co
First dividend under lease (2%) was paid in July. 1904. See V. 79.
plan for absorbing the shares of the Consolidated Traction. See terms p.269. In 1905, Jan., 1 %;July, 1 3-57,; in 1906. 3.26%;in 1907,3%%;
in V. 73. p. 1112. 286,880 shares common and 233,117 shares preferred in 1908.3.86(7 ; in 1909. 4.12%:in 1910. 4.37%;in 1911 and since,4%%.
have been so exchanged
Default aneSubsequent Payment on Pitcairn & Wilmerding 58.
-See PittsInterest Decision.
-See V. 113, p. 847.
burgh Rys. and United Traction Co. above.
STOCK AND BONDSSTOCK & BONDSInterest. Outstanding. Maturity.
Date.
Miles.Date. Interest. Outstanding. Maturity.
Common stock ($50)
Stock. $7.000,000
J-J $15.000,000 July '12. 1
' See text $7.000,000 See text.
Pref stock 6% corn ($50)_____ ____
6 M-N
12.000.000 Nov '13, 3% Mon. St. Ry. 1st mtge
I 17 1898 5 g J-D 1,000,000 June 1 1928
Equipment trust certificates 1914
5 A-0
$1.000.000 gold
100.000
See text
tf Union Trust Co., Pittsburgh, Trsutee.
Wilk. & E. P. M.
$500,000 Series "B"
Union Trust Co.. Pittsburgh, trustee
$2,000,000 g
Car trust bonds $200.000 gold 1916
5 g A-0
80.000
1899 5 g NI-S 2,000.000 Sept 1 1929
See text
guar
($1,000) Series "C" __c*tf Colonial Trust Co., Pittsburgh. Trustee.
Car trust bonds $800,000 gold 1916
Wilk. & Ver. M. $700,000 _- 1901 5 g J-D
5 g A-0
320.000 See text
624,000 June 1 1931
1,000 Series"D".__ f Union Trust Co., Pittsburgh, trustee.
g. ($1.000)
Car trust bonds $200,000 gold1 1917
5 M-N
131.000
See tart Pt. & Wil. M.,$700,000, g, -_ 1901 5 g J-J
588.000 July 1 1931
($1.000) Series "E"
(Fidelity Title & Tr. Co.. Pitts., Pa.. trustee
($1.000) c&r _ _tf
Fort Pitt Trac mtge $1,0004 1895
5 g J-D
1,000,000 Dec 2 1935
Bonds.
-The Union Trust Co. of Pittsburgh is trustee of all mortgages
000 ($1.000) g not red c* ti lint. at Pittsburgh Tr. Co., Pittsb., trustee
and Interest is payable at Mellon National Bank. The Wilks. & Ver, bonds
Notes payable D,c. 31 1921-- - -------- 1,516.057
are guaranteed, prin. & int., by Wilk. & E. Pitts. St. By. Co., Monongahela
Stock.-The pref. stock carries cum. divs. of 6% per annum and has the St. By. Co., Consol. Traction Co. and Phila. Co. Co. of Pittsburgh.
right to participate equally with the corn, stock when that has received 6%
ROAD.
-Owns 70.4 miles of track. Including branches; 90-lb. rails.
All arrears of divs, were paid up in Jan. 1903. V. 76. p. 48. First div. o
,
REPORT.
-Not now an operating company.
1% on common paid Jan. 2 1903; then I% July 1903; 1904 to 1911. Inc!
-P., A. W. Mellon; Treas., W.8.
OFFICE RS.-Pres., W. L. Mellon; V.
2% per annum. In 1912. Jan.. 1%; July, 1%.
vlitehell.-V. 72. p. 776; V. 70. p. 269. 627. 735.
Bonds.
-The equipment trust certificates Series "B" mature $25,000
-A trolley road.
(g) Pittsburgh Traction.
semi-annually from April 1 1915 to October 1 1924; $400,000 have been
retired: they are secured by 100 cars costing $581.945. The Series "C"
-Incorporated April 30 1887.
ORGANIZATION.
ear trust bonds mature in ten annual installments of $20,000 each from
LEASE.
-Leased from April 2 1896 to the Consolidated Traction for 950
April 1 1917 to April 1 1926. Inclusive. $'20,000 have been retired. They years at 7% on the $2.500.000 stock (see V. 61. p. 1154) but 1% years
are secured by 50 cars costing $221.000. Free from Penna. State tax. dividend, were used to pay floating debt of $250,000. The full 7% is now
'
V. 102, p. 60S. The Series "D" car trust bonds mature $40.000 each being paid. In May 1896 stockholders were offered receipts for their stock.
6 mos. from April 1 1917 to Oct. 1 1926 inclusive. $480,000 have been re- which were redeemed at $70 per share on Oct. 1 1896 In preferred stock or
tired. They are secured by 175 cars costing $900,000. The Series "E" Consol. Traction Co.; 49,300 shares out of 50,000 have been so exchanged.
car trust bonds are to be securiad by 50 cars costing $225.000. They mature See V. 62, p. 948. Pittsburgh Traction owns the $250,000 capital stock
In 11 annual payments commencing Nov. 1 1918. $66.000 retired.
at Bloomfield Street By. and guarantees the bonds.
The Fort Pitt Tract. bonds are secured by the deposit of the shares of the
STOCK AND BONDSDate.
Interest. Outstanding. Maturity.
constituent companies out of which the Fort Pitt Co. was formed, namely, Stock $2,500.000 ($50)
__
A-0 31 $38 per sh.pd.in.See text
$300,000 Fort Pitt Pass. Ry. stock. $100.000 Gross St. Ry. stock. $100,000 1st mtge 5s
c5 tfj 1887
5 A-0
$750,000 Oct 1 1927
Highland Park St. Ry. stock. $100.000 Negley St. By. stock.
(Fidelity Title & Trust Co., Pitts., Trustee.
ROAD.
-Controls 221.21 mile., of track in all.
Guaranteed BondsOFFICERS -Pros., A. W. Thompson; V.
-P., J. H. Reed; Sec., W. B. Bloomfield Street Ry 1st) 1893
5 F-A
250,000 Aug 1 1923
Carson; Treas., C. J. Braun Jr.; Comp., C. S. Mitchell.
cur
c*_tflInterest at Pittsburgh Trust Co. Trustee.
-V. 113, p. 817.
Stock.-Issued 50,000 shares, on which $38 each has been paid.
(a) Ardmore Street Ry.
ORGANIZATION.
-Incorporated in Pennsylvania on Oct. 31 1907
DIVIDENDS.
-At company's office, Pittsburgh. Dividends in 1895
Road mostly on private right of way. Franchises in boroughs are perpetual 9%;in 1896. none-see above; in 1898.5)4 %;in 1899 and since,7% •
Consolidated Traction owns all the stock and guarantees the bonds, prinROAD.
-Owns 18.51 miles of track.
cipal and interest. V. 88. p. 881. Philadelphia Co. owns $26.000 bonds.
STOCK AND BONDS- Date.
interest. Outstanding. Maturity.
(h) Suburban Rapid Transit Street Ry.
Stock $14,000 ($50)
See text
ORGANIZATION.
First mtge $1,250,000 gold! 1908
5 g A-0
$1,032,000 April 1 19158 (in. for 900 years Stan-Was leased on Jan. 1 1902 to Consolidated Traction
($1.000)
Int. at Colonial Trust Co., Plash- trustee. Including interest and annual rental of $56.000. as well as paying all charges,
e*tfl
taxes.
Bonds.
-Remaining bonds are reserved for extensions and betterments
STOCK AND BONDS-No sinking fund, but subject to call at 105 and interest.
Date.
Interest. Outstanding. Maturity.
-Operates 8.22 miles of track between Wilkinsburg and Ertel Stock $1,400.000_
BOA D,
__ J-J
$1,400.000
See text
First mortgage, ii66.1900. g I 1913 8 g M-S
Pittsburgh.
-V. 88, p. 881.
200,000 Sept 1 1953
c.tf( Int. at Farmers' Dep Nat Bank, Pittsburgh.
($1.000)
Lines Controlled by Consolidated Traction Co
Colonial Trust Co.. Pittsburgh, Trustee.
(a) Allegheny Traction.
Dividends.
-In 1903,4%;in 1904,Jan.,2%;July,lq %;since 4% per ann.
ORGANIZATION.
-Incorporated July 23 1890. April 1 1896 this
Road.
-Operates 11.88 miles of track on 6 miles of street.
company was leased to the Fort Pitt Traction Company for 950 years at a
(i) Morningside Electric Street Ry.
rental of $25,000 per annum. Lease assumed by Consol. Traction Co.
ORGANIZATION.
-Incorporated in Pennsylvania on July 14 1904.
STOCK AND BONDSInterest. Outstanding. Last div.et
Date.
Entire stock is owned by Philadelphia Co. Is leased to the Consolidated
Stock, $500,000 (par $50)_--- ---$500,000
See tex
5%
Traction Co. for 995 years from Sept. 30 1905 at a rental of 5% on stock
Guaranteed BondsMillvale Etna & Sharpsburgf 1893 5 g M-N
741,000 Nov 1 1923 and interest on bonds.
1st M $750.000 _ _ _ _g_tflInt. at Pittsb. Tr. Co.. Pittsburgh, Trustee
STOCK AND BONDSDate.
Interest. Outstanding. Maturity.
Dividends.
-The semi-annual dividend of 2%% due June 1 1901 was Stock,$24.000($50)
5 A-0
$24,000 See text.
passed, the proceeds being used to pay off the floating debt. In 1902
1st mtge $200,000 gold{ 1905
200.000 Oct 1 1935
5 g A-0
434%: 1903 to 1920, incl.. 5% per annum
($1.000) guar prin and Int. at office of Brown Bros. &Co., Phila.
ROAD.
-Including Minvale Etna & Sharpsburg, 21.755 miles of road
Int by Phila Co
c* tf Penn.Co.for Ins.onLives & G.A.,Phila.Trus.
-Trolley.
qa) Central Traction.
ROAD.
-Operates 3.31 miles of track. Gauge 5 ft. 2)4 in.-V.167.p.2188.
Default and Subsequent Payment.
-See Pittsburgh Railways above.
(4) Seventeenth Street Incline Plane Co.
LEASE.
-Incorporated Dec. 21 1888. Leased from April 2 1898 to
ORGANIZATION.
the Consolidated Praction for 950 years at 3% per annum on par value
-Is a reorganization on Dec. 28 1901 of the Penn. Inof $1,500,000 stock (see V. 81, p. 1154); and in May 1896 stockholders cline Plane Co. Entire stock Is owned by the Philadelphia Co. Was
were offered privilege of exchanging their stock for receipts, which were operated by the Pittsburgh Rys. Co. up to Jan. 16 1918. since when it has
been separately operated.
redeemed at 330 per share on Oct. 1 1816 in Consolidated Traction Co
preferred stock at par. 29,173 shares of Cent. Trac. stock (out of 30.000,
STOCK AND BONDS- 'Date.
Interest. Outstanding. Maturity.
have been so exchanged. V. 62, p. 1087.
Stock $250,000 ($50)
-------- -----.
$250,000
5 cur M-S
STOCK AND BONDS,
Date. Interest. Outstanding.
Maturity' 1st mtge $125.000 ($1,000)1 1905
125,000 Mch 1 1935
c*_tflInt. at Colonial Tr. Co.,Pittsburgh, Trustee.
3% A-0 530,000 shs 1
Stock ($50) see text
See
)30 paid up 1
text
Bonds.
-No sinking fund, and bonds are not subject to call. Are guarancable line,) 1889
let M $350,000
5 J-J
$375,000 July 1 1929 teed, prin. & int., by the Philadelphia Co.
g uar
ntf1 Interest at Union Trust Co., Pittsburgh.
$500
E A RNINGS.-For year end. Dec. 311921. gross, $48,133; net, loss after
Bonds of Central Passenger RE . controlled.
taxes, $9,776; other income, $59: int., &c., $7,920; bal., def., $17,637.
6 A-0
1st M $250,000 ($1,000)_ntf 1894
125.000 Oct 1 1924
Interest at Union Trust Co., Pittsburgh.
OFFICERS.-Pres., A. W. Thompson; V.
-Ps., J. II. Reed and W. B.
Dividends.
-Feb. 1 1892, $2 50 in stock in 1896. Feb., 2% in cash in Carson; Sec., E. W. Washabaugh; Treas., C. J. Braun Jr.; Comptroller,
1898, Nov., 1 S•i % in cash in 1899 and since 3% per year.
CI S. Mitchell.
-9.27 miles of road, of which it controlled by ownership of capital
ROAD.
(5) Beaver Valley Traction.
stock, Central Passenger By., 3% miles.
-A trolley road.
-V. 62, p. 948. 1087.
In July 1905 entire stock was acquired by the Philadelphia Co. of Pitts-A trolley road.
(c) Citizens' Traction.
burgh. V.81, p. 508.
ORGANIZATION.
-Incorporated July 6 1887, On Sept. 1 1887, purORGANIZATION.
-Incorporated in Penn. In perpetuity June 29 1891,
chased the entire capital stock ($200.000) of the Citizens' Passenger Ry.
and owns entire stock of Beaver Valley St. fly. and of Central Electric St. Ry.
which it now holds. Also owns stock of Aspinwall Street By.
LEASE.
-Leased from Nov. 1 1895, to Fort Pitt Traction Co. (now Co. purchased Aug. 8 1891, operating them as one road under 999-year
'
Consol. Traction) for 950 years at 6% per annum on $3.000,000 capital lease. Charter and franchise perpetual.
In 1900 stock was increased from $300.000 to $1,000,000 and then purstock. In addition the lessee agreed to pay a floating debt of $175,000,
chased the stock and property of the People's Electric Street By. of Rochesand at maturity mortgage debt. V. 61. p. 661.
ter, the College & Grandview Electric Street By.. the Rochester & Monaca
STOCK AND BONDSDate. Interest. Outstanding. Maturity.
Electric St. By.
_____
6 M-N
Stock ($50) fully paid
$3,000,000 f.p. See text tire capital stock and the Beaver & Vanport Electric St. By.; also owns enof Riverview Electric St. By. Co., the Freedom & Conway
5 A-0
686.000 Oct 1 1927 Electric
1st mtge.($1,000) not subjectf 1887
the Vanport Electric St. Ry. Co., none of which
tf 1 Fid. Title Sr Tr. Co., Pittsburgh. Trustee. has any St. By. Co. andissue. In Jan. 1902 authority was
to call
separate bond
given to intf1Fid. Title & Tr. Co., Pittsburgh Trustee.
subject to call
crease stock from $1,000,000 to $1,500,000.
Bonds of lines whose stocks are owned
Fare Increase.
-In Dec. 1917 the co. issued is new schedule of rates and
5 J-D
250,000 June 1 1922
Penn. St. Pass. By. 1st M____ 1892
fares. effective Jan. 28 1918. in the boroughs of Beaver. West Bridgewater,
Interest and dividends payable at Union Nat. Bank. Pittsburgh, Pa
-V.106, p. 818. Rochester, Monaca, Freedom, Conway, Now Brighton, Beaver Falls.
-Owns 37.8 miles of trees on 15 miles of street.
ROAD.
College 11111 and surrounding territory increasing the 5-cent fares to 6 cents,
-A trolley road.
(d) Duquesne Traction.
adding a fare zone for through passengers from 12th St.. Conway, to Van-See Pittsburgh Railways above.
Default and Subsequent Payment.
port. and diseontirming the sale of cut-rate tickets in books of 21 for $1.
LEASE.
-Incorporated Jan. 25 1890. Leased from April 2 1896 to Tickets are sold in strips of 10 for 55 cents. On Dec. 1 1919 number of
the Consolidated Traction for 950 years at 4% on the $3,000,000 stock. zones were increased, with a fare of 5 cents per zone, all tickets being disbut dividends for a year and a half were withheld for payment of floating continued.




OCT., 1922.]

ELECTRIC RAILWAYS

115

-The Penna. P. S. Comm. in March 1922 approved the and depreciation fund of not less than 15% of the gross operating revenues
Consolidation.
only.
on any
sale of the corporate powers, franchises and property of the following street of the system. Registered bonds in the $1,000 denom.109, p. Red.V. 111,
V.
176;
railway companies to the Beaver Valley Traction Co. under a consolidation Int. date at 105 and int. Free Penn. 4-mills tax. 112.p. 474.
V.
of traction interests: People's Electric, General Electric, Beaver Valley St. p.298. Listed on the N.Y.Stock Exchange.for par from July 1 1923 to
deb. are cony, par
-The •
Debentures.
Ry., Rochester & Monaca Electric, Freedom & Conway Electric, Riverview
Call, on any int. date on 90
Electric, College & Grandview Electric, Beaver & Vanport Electric and July 1 1934, incl.. into 8% pref."B"stock. at 107% and int. to and incl.
Vanport Electric St. Ry. We are officially informed that the consolidation Jays' notice in blocks of not less than 5500,000 of 1% less for each year of
July 1 1922 thereafter at premium becoming %
of a number of subsidiary street railway cos
Into Beaver Valley Trac. Co.
V. 112, p. 2195.
is merely legal consummation of a step which has been in practical effect expired life. Penna. 4 mill tax refunded. 13.i%,paid May 1915 same rate
-First div. on 7% pref.stock.
Dividends.
for a considerable time. It entails no change in operating methods or
quar. since. First quar. div. on corn., 1j%, paid Mar. 31 1913 Sept..
accounting. V. 114, p. 1285.
%. Since then dive, have been 7-12% each month.
Interest. Outstanding. Maturity
STOOK AND BONDS- Date.
-For years ending Dec. 31 (Duquesne Light Co., Penna. Lt.
REPORT.
$1,075,000
Stock $1.500.000 (par $50)675.000 Oct 1 1950 & Power Co., Cheswick I'ower Co., Beaver County Light Co., Midland
5 g A-0
1st con mortgage (closed)f 1900
Pa. Co. for Ins. on Lives & Granting Electric Light & Pow. Co.). Transactions between companies eliminated.
'..tf{ Int. at
c4
gold
1920.
1921.
1920.
1921.
t Annuities. Philadelphia. Trustee.
957.000 Nov 1 1953
5 g M-N
Gen mtge53.000.000($1,000)1 1903
Gross earns__ _16,092,270 15,005.173 Impts.& bett's
Co., Phila.. Trustee
c*_tf f Int. at Northern Trust
gold
written off_
Net, aft. taxes 6,107,982 4,603,526
5 J-J
42 000 See text
Car trust bonds, gold, $72.-J 1917
488
206,704 Misc. losses
231,900
IFidelity Title & Tr. Co Pittsburgh, trustee Other income
000($1,000)
Depreciation _
prior 110T1P
-Of the gen. mtge. bonds, $075,000 are reserved for
Bonds.
410,133
395,503
Proffered
and the remainder for extens. and improvements at 75% of cost. See V 77. Total net Inc_ 6,339,882 4,810,231 Common divs. 1,549,210 1,458,080
divs.
p. 2158. $232,000 owned by Phila. Co. Both Issues redeemable at 110 int., rents, &c. 2,113,387 1,372,769
and Interest.
75,115 Surp. for year. 2,088,264 1,494,134
on sale of sec 193,029
The car trust bonds mature $6,000 each Jan. 1 to 1929 and are secured
-See Philadelphia Co.
by 12 motor cars. $30,000 retired.
LATEST EARNINGS.
-As of May 311921, had a power station generating
PROPERTY. &c.
-Owns and operates 35.41 m. of track, connecting the various
ROAD.
towns and boroughs in the Beaver Valley, from Morado Park southerly, via ,tapacity of 212,500 k. w., 9.081 miles of distributing lines 921 miles of
transmission lines and underground conduit, 135.880 customers; total
Beaver Falls. to Beaver and Vanport and to Rochester and Conway. Laid
lamps.
with 90 lb. and 73-lb. girder rails. Owns 47 closed and 3 open passenger contracted load approx. 348,626 k.w. supplies 4,594 arc k. w. h., against
Output for 12 months ending Dec. 31 1920, 805,102.770
ears and 9 miscellaneous cars
i20.620.240 k. w. h. for the same period in 1919.
-For year ending Dec. 311921, gross, $651.765; net, after
EARNINGS.
OFFECERS.-Chairman of he Board, James D. Callery Pres., A. W•
taxes, $85,502; other income,$2.280: interest, rents, &c.,$158,930; discount
-P.. J. H. Reed Sec.. W. B. Carson Treas., C. J. Braun Jr..
ehompson V.
on securities sold, $1,301; deficit for year, $72,452.
-V. 112, p. 66. 474, 648, 2087, 2186, 2195, 2310,
Compt., C. S. Mitchell.
-Ps., W. B. Carson and E. E
OFFICERS.-Pres., A. W. Thompson; V.
2417; V. 114, p. 202, 1185, 1288; V. 115, p. 181, 650.
Hamilton; Sec., E. W. Washabaugh; Treas., C. J. Braun Jr.,; Compt., C.S
-V.87. p. 345: V. 106. p. 295; V. 109. p. 675: V. 112, p. 1143
Mitchell.
(a) Pennsylvania Light & Power Co.
1616, 2413; V. 114, p. 1285, 2239.
6849,950 of the stock is owned by the Duquesne Light Co.
-A trolley road.
Beaver Street Railway Co.
(6) Pittsburgh &
ORGANIZATION.-Incorp.in Penna. Jan. 141901. Oper. separately.
--Incorporated in Pennsylvania Jan. 23 1908
• ORGANIZATION.
Interest. Outstanding. Maturity.
STOOK AND BONDS- Date.
Franchises perpetual. Capital stock $235.000 ($50 par), all owned by
2850.000
itock $1,000,000($50)_
Philadelphia Co. Bonds authorized, first mortgage gold, $1,500.000 Penns Lt. lit & Power mtge 1901
6 A-0
50.000 April 1 1916
Issued, $750,000, all owned by the Philadelphia Co.; dated July 1 1908,
ntf Int. at Colonial Trust Co., Pittsb., trustee.
2_150,000 ($1,000)
due July 1 1958 (tf). Int. 5%. payable Jan. & July at company's office
These bonds were purchasedby the Duquesne Light Co. In April 1916.
p. & I. by Phila On
Union Tr. Co. of Pitts., trustee. Are guar.
Pitts
-included in Duquesne Light Co. above.
EARNINGS.
-On Dec. 1 1919 number of zones were increased, fare
Fare Increase.
made 5 cents per zone and tickets abolished.
ARTIFICIAL GAS.
-Operates 14.98 miles in and between Baden. Beaver ComstY
ROAD.
kl) Consolidated Gas Co. of Pittsburgh.
-V. 105, p. 1802; V. 109. p. 677.
and Leetsdale, Allegheny County. Pa.
the common, $206.500 of the pref. stock, and $3,636,000 first
All
-A trolley road.
mortgage bonds are owned by Philadelphia Co.
(7) Clairton Street Railway Co.
rhe Consolidated Gas Co. operates under a perpetual charter and with
ORGANIZATION.--Incorp in Penna. May 5 1904. Capital stock
dte Allegheny Illuminating Co. and the South Side Gas Co. constitutes the
$30.000 ($50) all owned by Pittsburgh Railways Co.
of Pittsburgh and the excluBorough of Clairton, Al- only gas-manufacturing companies in the city vested in them. These com-Operates one mile of track in the
ROAD.
sive right to manufacture illuminating gas is
1 wholly County.
panies discontinued operations in June 1919.
ELECTRIC LIGHT AND POWER.
Owns entire $2.000.000 stock and $2,000,000 bonds of the Allegheny
-Entire com, stock is owned by the Phila. Co.
Duquesne Light Co.
Illuminating Co. and pledges them under Its first mortgage.
Incorp. on Aug. 25 1903 under the laws of Pennsylvania.
Default.-Int. due Feb. 1 1916 on the let M.5s VMS defaulted. Deposit
interest of
In Feb. 1912 the Duquesne Light 0o. was purchased In the
bonds has been called for by the following committee: 0. S. W.Packard.
Plana Co.(V. 94, p. 560). and in Nov. 1912 it was merged with the Monon• Chairman; A. 0. Robinson, Thomas S. Gates, B. Howell GrisVerona Lt.. Ht. & P. Co. In Dec. 1912 wold Jr., D. H. Hostetter and T. G. Daub; Sec., B. L. Brantigatn, 517
gahela Lt. Co.and Oakmont &
it increased its stock from $3.000.000 to $25.000,000 preparatory to acquit
Chestnut St., Phila. Depositaries, Penn. Co.for Ins. on Lives & Granting
ing control of the electric-lighting properties owned by the Phila. Co
Ann. Phila.. and Safe Deposit & Trust Co.. Pittsb. V. 102. p. 525.1989.
Merger effective Jan. 1 1913.
'
In Dec. 1918 holders of the 1st mtge. bonds were offered in exchange for
Owns $849,950 out of $850,000 stock of the Pennsylvania Light & Power said bonds $925 of Philadelphia Co. 6% pref. stock for each 310300 bond;
Co., the entire stock and bonds of the Allegheny County Light Co., the the exchange becoming effective upon the acceptance of this offer by holders
Power Co., the
entire stock and bonds of the Southern Heat, Light &
of at least 80% of the bonds and the withdrawal of the suit instituted as a
entire stock of the Beaver County Light Co., Midland Electric Light & result of the default on these bonds noted above. V. 107. p. 122.92. This
Power Co., Allegheny County Steam Heating Co. and $500,000 bonds plan has been carried out,suit having been withdrawn, and all but 214.000
(entire issue) of the East End Electric Light Co. On Dec.31 1912 leased for par value of bonds having been exchanged up to Oct. 1 1922.
50 years the Allegheny County Light Co., which in turn leases the Southern
Interest. Outstanding. Maturity.
Heat, Light & Power Co. and Monongahela Light & Power Co. for 900
STOCK AND BONDS- Date.
54.000.000
years from Jan. 11902.
(Jommon $4,000,000($50)_
2.000.000 Aug'22, 2%
4 F-A
In April 1916 purchased the $150,000 6% bonds of the Penna. Lt. lit
Pr,ef 4% cum $2,500,000 ($50)
0
,
See text Feb 1 19
& Power Co. which fell due April 1 1916.
5 g F-A
Met mortgage $3,650.000J1898
B
On July 27 1921 purchased all the property and franchises of the Equitable
($1,000) gold
tf Maryland Trust Co., Baltimore, Trustee.
Coal & Coke Co., which co. has been dissolved (for history see "Electric
Int. on bonds is payable at rown Bros. & Co.. N. Y., and Alex. Brows
Railway" Supplement of April 30 1921.)
& Sons. Baltimore.
Has contract extending to 1963 to supply all
Franchise Is perpetual
-For year end. Dec. 31 1919, gross, $113,399; net, after
EARNINGS.
electricity used bythe Pittsburgh Rys. Also has contract with the city of taxes (loss),
$21,799: other income, $77,923; interest on bonds. &c., $343,Pittsburgh for street and other municipal lighting and power purposes.
-On Nov. 19 1917 the Pittsburgh City Council 788; deficit for year $288,663.-V. 102, p. 525, 1989; V. 107. p. 2292. 2378.
City Lighting Contract.
adopted an ordinance to authorize a contract with the company to furnish
(2) South Side Gas Co.
light to 20 wards of the city for ten years, the contract being based on nor15,751 shares of stock are owned by the Philadelphia Co.
mal prices for lab n• and supplies; contract has since been signed. See also
ORGANIZATION.-Incorporated Jan. 25 1882 in Pennsylvania. Stook
V. 114. p. 1185.
On Jan. 1 1921 the co. acquired from the City of Pittsburgh the North authorized and issued. 5500.000 ($25)•
Side light plant at the price of$378.652. V. 111, p. 2141.
-year notes dated July 16
In 1917 brought out an issue of $3,272,251 5
WEST PENN COMPANY.1917. whole issue wing purchased by the Philadelphia Co.
ORGANIZATION.-Incorp. July 11 1911 in W. Va. as the Black River
In July 1919 the co. issued $25,000,000 1st mtge. & coll. tr. 30-yr. 6s,
proceeds being applied to the purposes enumerated in the description of Water Power Co.. but in A °MI 1912 was reorganized and capital increased
this issue below. See also V. 109, p. 176, 2267. In July 1920 an additional and name changed to West Penn Trac. & Water Power Co. in accordance
American
$6,718,500 of this issue was nut out, proceeds being applied principally for with plan of American Water Works & Guarantee Co. (now statement
expenditures on the new Colfax power plant and extensions to the Brunot Water Works & Elect;ic Co.) in V. 94, p. 984. (Sea also detailed title on
Name changed to present
of that company in V. 95, p. 1537).
Island power station. V. 111. p. 298.
In Sept. 1919 the stockholders approved the issuance of a $100.000,000 June 21 1922. Owns entire outstanding common stock and $458,200
mtge. V. 109, p. 984. Compare V. 109, p. 176. In July 1921 the capital preferred stock of the West Penn Railways Co.
-In June 1922 brought out
Acquisition of Monongahela Power ce.: Ry. Co.
stock was increased from $34,822,300 to $59,822.300, the new stock being
-year 6% debentures, proceeds being used in the acquisition of
$2,500,000 3
8% pref. Compare V. 112, p. 2310; V. 114, p. 202.
interest in the Monongahela Power & Ry. Co.
-year 7%% cony. debentures. a substantial controlling
In May 1921 brought out $10,000,000 15
In connection with the acquisition the West Penn Monongahela Co. was
See offering in V. 112, p. 2195.
incorp. in Delaw..re June 14 1922. For further details of acquisition see
Interest. Outstanding. Maturity
Date.
STOCK AND BONDSV. 114. p. 2117, 2719, 2826.
Monthly $18.226,000 See text
Oommon $25.000.000($100)__
Date. Dir. Paid. Outstanding. Last Div.
STOCK5,253,400 Nov '22.1%
7% min pf $5,941,000 ($100)
Q-F
$22,500.000
Common $22,500.000 ($100)
See text
8% cum pref $25.000,000_ _
8%
8,054,700 See text
Q-F 15
M & coil tr $100,000,111101 1919 6 g .1-5 1 31,717,500 July 1 1949 Pref $8,500,000 ($100)6% cum ____
let
-year debentures 52,500,0001 1922 6 g J-D 15 2,5013,000 June 15 '25
($500 & $1,000) g_c*&r*.tf!Bankers Tr Co., N. Y., trus. Int. In N. Y. 3
($500 & 51.000) gold__c*t.f'Equitable Trust Co., N. Y., Trustee.
10,000.000 July 1 1936
-year cony deb $10.000,0001 1921 7% g 5-3
15
-$16,344,0.,0 common and $4,668,500 pref. stock is owned by
Stock.
($500 and $1,000)--- _c*tfICharm National Bank, New York, Trustee.
American Water Works & Electric Co.
Bonds of leased Cos.
-year debs. are red, all or in part on 30 days' notice
Debentures.-The 3
Monongahela Lt & P let Ml 1899
5 g J-D
$1,700,000 June 1 1949
at 103 and int. to June 15 1923, less 1% for each year ending June 15 there$1.700,000 ($1.000) g---tfi Int. at Mellon Nat. Bank, Pittsburgh.
after to maturity. Sinking fund to retire $100,000 of debentures annually
tUnion Trust Co. of Pittsburgh. trustee.
If purchasable at or below par, provided for. Debentures so purchased
Beaver County Light Co _
62.500
Stock.-Pref."A"7% stock is red, as a whole on any div. date at 115 and to be canceled. Int. on debs. is payable at Halsey, Stuart & Co., N. Y.
and Chicago. Penna. 4 mills tax refunded.
div. on 60 days' notice. Has priority over 8% pref."B"stock as to assets
Utotuenas.-Ou prof I A v,, quarterly from organization of company to
dive., &c. In July 1920 the co. entered into an agreement with the Union
Trust Co. of Pittsburgh as Trustee, providing for the establishment of a and including March 1914. None to March 1917, when 1.4% quarterly
fund for the purchase of the outstanding 7% pref."A"stock by the deposit was again resumed. V. 104. p. 864. Same rate paid reg. guar. since.
with said trustee of $175,000 each Jan. and July 1 commencing Jan. 11921. In May, Aug. and Nov. 1921 and Feb. an:I May 1922, 1 % additional
purchases of stock to be at the lowest prices tendered not to exceed 115. was paid on account of accumulations. In Aug. 1922 101,4% was paid.
in paySufficient of the pref. "B"stock is reserved for the conversion of the 7%% on the 65,000 shares of Prof. stock outstanding on March 16 1914,follows:
ment of all accumulated unpaid divs. upon such shares, payable as
debentures.
-The first mtge. & coll. trust 6s are secured by a first mtge. on 1%% in cash, 9% in 6% registered div. warrants payable in three equal
Bonds.
all property owned in fee and by a first lien on the co.'s leasehold interests semi-annual installments, Feb. 15 1923, Aug. 15 1923, and Feb. 15 1924.
and on certain bonds and virtually all the stocks of its subsidiaries. The V. 114, p. 241. In Nov. 1922, 13. %•
& Sec..
-P., C. P. Billings;
proceeds of the $25.000.000 of these bonds were applied as follows:
OFFICERS.-Pres., A. M. Lynn: V.
(a) $12,000,000 (together with certain cash from other sources) were R. B. Keating; Treas. & Asst. Sec., C. C. McBride; Asst. Sec., W. K.
used to retire(by call on Jan. 1 1920 at 101 and int. V. 1.9, p. 2267)512.000,- Dunbar and G. H. Mitrrie: Asst. Treas.. C. P. Kalp; Gen. Aud.. M. W.
-V. 114, p. 2581, 2826; V. 115, p. 1634.
000 Duquesne Light Co.3-yr.6% secured notes, due July 1 1921 (V. 107. p. Glover, Pittsburgh.
607). (b) $10,295,390 deposited with the trustee and-or with its designate
depositaries, and may only be withdrawn from time to time to pay or reimburse the company in part for cash expenditures aggregating $14.648,125
WEST PENN RAILWAYS CO.
made (1) in connection with the construction to an initial installed capacity
All of outstanding corn. stock and $84,300 of the pref. stock is owned;by
of 60,000 k. w. of the new Cheswick power plant; and (2) for permanent the West Penn Co. and $281.800 pref. stock is owned by the Amer. Water
additions and extensions to the property. (c) The remaining $1,281.500 Works & Electric Co.
were delivered to the trustee to be held pending the fulfillment of certain
-A consolidation on May 23 1917 of the old West
ORGANIZATION.
conditions. The auth. amount of these bonds was increased to 8100,000,Penn Railways Co. with the Brownsville Street Ry. Co., Greensburg &
000 and the co received the $1,281.500 bonds previously mentioned as being Southern Electric St. Ry. Co., Latrobe St. Ry. Co., Latrobe Hecla St. Ry.
deposited with the trustee out of the initial issue of $25.000,000. The rewn St. Ry. Co., ittsburgh Mckeesport &
maining $68,281,500 bonds may be issued under certain conditions for pur- Co. Masontown-Morganto
Co., Uniontown Radial gt.'Ry. t o. and \Vest Penn
poses enumerated in V. 109. p. 176. The mtge. provides for a maintenance Connelleville Ry.




•1

f

•

116

ELECTRIC RAILWAYS

[VoL. 115.

Interurban Ry.Co.(all of the capital stock of which corporations had
Co. and the Steubenville Ry. Co. Controls Wheeling Bridge Co. Also
owned by the West Penn Rye.). and with the West Penn Traction been owns
all of outstanding stock of Citizens St. Ry. Co.
McKeesport & Irwin Ry. Co., Pittsburg McKeesport & Greensburg Co.
Ry
In Jan. 1911 increased auth. stock from $2,000.000 to $2,500.000.
Co. and White Electric Traction Co. (for terms of consolidation see V
Greater part of franchises perpetual.
104, p. 1704). Owns all of cap. stock of Allegheny Valley St. Ry. Co.
STOCK AND BONDS- Date. Interest. Outstanding. Last die.. ac
Kittanning & Leechburg Rys. Co.. Oakdale & McDonald St. Ry. Co. and
Stock $2,500,000($100)_
Pittsburgh & Allegheny Valley Trac. Co., and operates the last three
$2,336,300 See text
Wheeling Traction let mtge 1901
lease. Also owns all of the capital stock of the Wheeling Traction under
2.500.000 Jan 1 1931
5 g J-J
Company, the Steubenville Wellsburg & Weirton Railway Company, the
$2.500.000 (11.000. $500) Int. at Cleveland Trust Co., Cleveland,true.
gold
Steubenville Railway Co., The Brooke Elec. Co.. Wellsburg El. Lt., Ht.
1an 3 at5jBk.of Commerce. N.Y.
91d
Nat
j& Power Co.. Hancock County Elec. Co.. and the West Virginia Power & 10-Year gold 5s $10,000.
ca0f
170.000 Jan 1 1943
Transmission Co., successor owner of water power rights and
$2001z0rlIn9 at Colon
0 It. l
7g
2
Trust Co., Pittsburgh, true.
i
of Hydro-Electric Co. of W. Va.; also all of the common stock ofproperties Wheeling Bridge Co
200,000 Jan 1 1931
Penn Power Co. In addition the West Penn Rys. Co. controls the the West
1st M callable at 105_ _ _ _tf Int. at Dollar Say.& Tr. Co., Wheeling, trus.
Steuben- Wheeling Bridge
ville Bridge Co. through ownership of the majority of its common
Co 8% stk 1921 8% F-A
90,000 Feb 1 1926
purch notes call at 101--tf Int.at Dollar Say.& Tr.Co., Wheel'g,True.
and ownership of the S. W. & W. Ry. Co.. which owns the majority stock
of its
Wheeling & Western Ry Co 1906
pref. stock.
5 g M-N
182.000 May 1 1926
In 1917 the rights and properties theretofore owned and
1st M 5s $500.000 ($1.000) Int. at Dollar Sav.&Tr. Co., Wheerg.Trus.
Red
Hydro-Electric Co. of W. Va., incl. the partially developedcontrolled by
Guar., p. & 1., by Wheeling Traction Co.
c* ntf
water power Bellaire at 102
project at State Line on the Cheat River, were taken over and are now
S W Tr Co 1st M 1906
50.000 Nov 1 1926
5 g M-N
owned by the West Virg.ma Power & Transmission Co. The properties of
$500.000 ($1.000) __r&c* Int. at Dollar Say.& Tr. Co.. Wheel' True.
g,
the Transmission Co. have been maintained and cared for and considerable
Red. at 102 and int.
Guar p. & 1. by Wheeling Traction 00.
progress has been made in the acquisition and consolidation of necessary
Bonds.
-First mtge. bonds are red, on any int. day at 105 and interest
flowage rights and rights of way preliminary to resumption of construction uteion 3st
1 digs' notice. V.
0
.
Tbraoendoare
1d 5%
work when this shall be determined upon.
ng
Wheeling Tr19 CO'.112eB3eUirreg9). W.
" 6ac.
.
Wheelfoi'r"
In Nov. 1921 the company purchased the West Virginia & Maryland ing & Western Ry, Co., Panhandle Trac. Co.,Steub.& Wheeling Tim. Co.,
Power Co. of Kingwood, W. Va. V. 113, p. 2407. In March 1922 that co. and for extensions and betterments. Red. at 105 and accrued int. at any
purchased the plant and property of the Elkins Pow. Co. V. 114. p. 1409
int. period. V. 96, p. 1491. The $170.000 outstanding are all owned by
Franchises are almost all perpetual. Practically all track and
the West Penn Rys. Co. The Wheeling Bridge Co. 8% stock purchase
mission lines outside of municipalities are on private right-of-way. trans- notes are secured by a deposit of $265.400 Wheeling Bridge Co. stock and
Early in 1922 the auth. corn. stock was increased from $10,000,000 to $71,000 of bonds. The Wheeling Bridge stock purchase notes. due Feb. 1
1921, were paid off and the present notes issued. $53,000 of Wheeling &
$20,000,000. V. 114, p. 1181.
Western bonds and $15,000
STOOK AND BONDS.
Date.
Interest. Outstanding. Maturity. Wheeling Traction Co. The of Bellaire South Western bonds owned by
equipment trust certificates of 1916 were for
Common $20.000.000 MOW$10,000,000
the purchase of8 new P
-A-Y-E cars
Pref6% cum $10.000.000($100)_Q
-M 15
7,785 300 Sept'22. 14 of 1918 mature $12.000 each Sept.costing $43,698. The equipment trusts
1 and $13,000 each March 1 up to and
W P Tract let M $25.000.0001 1910
5 g J-D
5.251.500
1 1960 Incl. March 1 1923.
gold ($1.000 & $500)_ _c*tf tint. at Equitable Trust Co.. N Junetrustee
Y.,
ROA0.
-Owns or controls and operates 103.30'milesoftrack in Wheeling
Old W P Rys let M 36,000,000 1905
g A-0
5.667,000 Jan 1 1931 and suburbs, extending to Barton. Shadyside. Rayiand and Wellsburg.
($500 & $1.000)
elf Int. at Equitable Tr. Co., N Y., Trustee.
Mound.sville. Bellaire and Martin's
Also has a line from SteubenColl tr M $6.000,000 gold 1910 5 g A-0
2,926.000 Jan 1 1931
ville to Brilliant. Gauge,standard Ferry. ft. 254 in. Power station at
and 5
($1.000310.000&$50.000) r Int. at Equitable Trust Co.New York,True
Wheeling.
-V. 113, p. 536, 1157, 2407; V. 114, p. 199.
P McK & C 1st con mtge 1901
5 J-J
2.912,000 Jan 1 1931
$3,500,000 ($1,000) gold__ Interest at Colonial Trust Co.. Pittsburgh.
(1) Steubenville & Wheeling Traction Co.
Cannot be called__ _ _ _ _if
Trustee.
Owned and operated by Wheeling Traction Co.
Pitts McK & Greensburg 1st 1901
OROANI.ZATION.-Incorp. May 1901
5 g J-J 1
373,000 July 1 1931
In Sept. 1905 acquired
Mtge $1,500,000 ($1,000) Interest at Harrisburg Trust Co.,Harris- oy deed all the property of the Steubenvillein Ohio. Ohio
Mingo &
Valley Trac. Co.,
gold
ctf
burg, Pa.
oubject to the bonds of that company in table below. V. 81, p. 1101.
Con Sub St Ry mtge ($175.- 1 1902 5 g J-J
175,000 Jan 1 1932
STOCK AND BONDS- Date.
Interest. Outstanding. Maturity.
000 guar p & I
tflint. at Colonial Trust Co.,Pittsb., Trustee
Stock $650.000 ($100)
$500.000
Kitt & Ford 0 1st M $50,000 1898 6 J-D
27.500 Dec 1 1928 First mtge 5650.000 guar gold _ 1905
5 g M-N
533.000 May 1 1935
gold ($1.000)
c* Pittsburgh Trust Co.. Pittsburg.h, Trustee
($1.000)
ntf Int.. at Dollar Say.& Tr.Co.,Wheeling,trust.
Alleg Vall St 1st & coil tr M 1906
F-A
1,680,000
117.000 Jan 1 1925
$2.0000410 g not redeema- Interest 5 g Union Trust Co.. Feb 1 1936 steub Mingo & Ohio Val lstM 1900 6 g J J
at
Pittsburgh
5150.000 g ($1.000)_c* ntf Int. at Equitable Trust Co.. N. Y., trustee.
ble ($1,000)
c&rtf
Trustee.
Bonds.
-Of the $650.000 new bonds. 1117.000 are reserved for prior liens,
Versailles Traction Co first1 1897 6 g M-S
88.000 Sept. 1 1927 137.000 (Included in am pint outstanding) owned by Wheeling Traction Co.
mortgage gold
jInt.at Pittsburgh Trust Co.
,Pittsburgh. true
Are subject to call at 102 and int. They are guar., prin. & int.. by WheelOakdale & McD St Ry 1st Mgt 1906 5 J-J
150.000 Jan 1 1937 ing Trac. Co. Entire issue of Steubenville Mingo & Ohio Valley bonds
g gu p&i by W P Rys_ntf Int. at Colonial Tr. Co., Pittsburgh trustee
Pitts McK & 0 1st M $1.- 1901
at par and int.
5 g J-3
1,500.000 July 1 1931 Is subject to callbore 5% int. buton 3 months' notice. Originally matured
were extended for 5 years at 6%.
500.000 ($1.000)..cannoti Int. at Harrisburg Tr. Co., Harrisb. Tr. or Jan. 1 1920 and
-Steubenville to Brilliant and Wheeling to Rayland, 15.42 miles
ROAD.
be called
Manufacturers Tr. Co.. Providence. R
tf
of track. Gauge, standard and 5 ft. 2% in. 13 cars. Power house
Pittsburgh & A V Trac Co 1st 1910
5 M-N
350,000 May 1 1940
$350.000 gold
lInt. at Peoples' Say.& Tr. Co.. Pitts., trust. abandoned Dec. 31 1917.-V. 81, p. 1101.
Steubenville W & W Ry first 1911
(2) Panhandle Traction Co.
5 A-0
700,000 April 1 1951
mortgage $700,000
Owned, leased and operated by Wheeling Traction Co.
lint, at Wash. Tr. Co., Washlon, Pa.. true
First equipment trust certifs. _ 1921
Incorporated May 24 1900 in West Virginia
In Jan. 1906 control was
8%
180,000 See text
Prefrrred Stock.-After 1918 no div. can be paid on the corn stock
unless acquired by the Wheeling Traction Co., which now owns entire stock.
in addition to payment of the pref. stock dive. in full,
STOCK AND BONDS- Date.
Interest. Outstanding. Maturity.
served annually an amount equal to 3% on the then there has been reoutstanding pref
Stock 5500.000 ($100)_ -$500.000
stock. No additional pref. stock can be issued at any time unless
the
5 g A-0
500,000 Oct. 1 1932
earnings applicable to pref. dim are twice the annual requirements there- iri:at mortgage $500.000 goldi 1902
(11.000 and $500)--esntf(Int. at Columbia Tr. Co N. Y., trustee.
for, including the proposed issue. Stock Is preferred as to assets
and dive
Equip. trust
70,000
and is callable at 105. Pref. stock is listed on the Louisville
and Pittsburgh
notes19 y
Bonds.-Are subject to call on any int.dAtO at par and int. on 30 day!'
6 a- e
text0daya
exchanges.
Bonds.
-Of the West Penn. Traction Co. 1st M. bonds. $9,175,000 are notice. The equip. notes of 1919 are due serially $10,000 per annum each
Oct. 1 to 1929. Are secured by 9 passenger cars. $30,000 have been
reserved to retire the bonds of constituent companies and balance
for exten- retired.
sions and betterments at 90% of cost. As additional
ROAD.
-Operates 19.19 miles of track from Wheeling to Lazeareville.
standing coll, trust bonds of 1910 of West Penn Rys. security all the outand
owned are deposited under the mtge. Through this deposit other securities mostly on private right of way. County franchises are perpetual. 26 cars.
these bonds are Standard gauge
secured on the properties of the subsidiary cos., subject to the
outstanding
underlying issues. $591.500 are held in treasury and $6,620,000
WEST PENN POWER CO.
Red under the mortgage at 80% of face value. The bonds are not re-depos
All the corn. stock is owned by the West Penn Rys.
subject to
call. Tax-exempt in Pennsylvania. See description of bonds and propORGANIZATION.-Incorp. Mar. 1 1916, in Penna., as a merger of
erty in V. 92, p 597. The West Penn Railways Co. 1st mortgage
bonds 53 electric light and power companies. The company was organized for
of 1905 are not subject to call. They are tax-free in Pennsylvania
the purpose of consolidating under single fee ownership the principal electric
Listed on Philadelphia, Louisville. Pittsburgh and
power properties within the State
changes. Pitts. McKeesport & Greensburg let 5sBaltimore Stock By. light and Penn Traction Co.now West Pennof Penna.formerly controlled by
not subject to call. the West
Rys. Co.
$1,127,000 owned by West Penn Rys. $500,000 P. McK. & C. 1st consols. Co. conducts over 85% of the light, heat and powerThe West Penn Power
business of the West
are reserved for extensions and improvements, and $88,000 to retire
western
Ver- Penn System. Its
sailles Trac. Co. bonds. The Connellsyille Sub. bonds were guaranteed 5,000square miles. chartered territory ineach with Pennsylvania exceeds
114 cities and towns,
population more than
principal and interest by the (old) West Penn Railways Company, and
together with 260 smaller towns and communities are served. The
are callable at 105 and interest on 30 days' notice. Tax-free in Penna. 1,000
population of all communities served is in excess of 500.000.
All the W.P. Rys. coll. trust bonds are owned by company and are on deposit
The franchises under which company operates, with exception of those
as part security for W. P. Trac. Co. let Mtge. bonds. $90.000 Oakdale & in a few smaller towns from which the
company derives less than 1% of
McDonald bonds owned by West Penn Rys. Co., included in amount gross earnings, are unlimited as to duration.
reported outstanding. Interestisfanb; gem gg
cnlleaarrax-exenpnl enn.
ata
company in N.
Government Advance for Power Plant.
eg.veyt.
-For particulars see this publication
of Oct. 30 1920.
Ry. 1st M. bonds (not included in amt. outstanding) are held in treasury
In Aug. 1920 $3.000,000 let M Series"D"7% bonds were issued to reimof Allegheny Valley St. Ry., are secured by a pledge of entire capital stock burse the co. for expenditures made in connection with the Springdale
of Alleg. Valley Light Co. $12.000 Versailles Trac. 1st 6s are owned by power station. V. 111, p. 396. In Aug. 1921 an additional $3,000,000
W.P. Rys. $1,127,000 of P. McK.& G. bonds (incl. in amt. outstanding) bonds of the same series were issued for the purpose of reimbursing the co.
are owned by West Penn Rys. Co. The 8% equip. trust certfs. are due for expenditures made and to be made for exts., enlargements, &c. V. 113.
$10,000 semi-annually. $20.000 have been retired.
p. 739.
Dividends.
-Dive. on pref. stock are gum. Initial div. paid Sept. 15 1917.
Interest. Outstanding. Maturity.
STOCK AND BONDS- Date.
Paid regularly quar. since to and incl. Sept. 1922.
Common $10,000.000 3100)
$10
85
EARNINGS.
P1'7% cum $10.000,000 MOO)
-For years ending Dec. 31 (including subsidiaries):
Q-F 1
0
...8 °..7100 Nev.'2 ,9%
9 0 00 m ar I21140
59
°.
12 Months Gross Earns. Net after
First mtge gold series "A" 1916
5 M-8
Miscel. Fixed Charges, Balance,
to Dec. 31. (all sources)
Income.Divs.(Sub.Cos.) Surplus. First mtge gold series "C"! 1916 6 g J-D
Taxes.
5,318,000 June 1 1958
1921
$14,189,777 $3,962,227 $564,030 $2,606.632 $1,919,626 First mtge gold series "D" 1916 7 g F
-A
6A00.000 Mar. 1 1946
c*RirstflEquitable Trust Co.. New York. trustee.
1920
13,607,950 3,368,345
$1.000)
549,595
2,212,783
1,705,157
2,_480,000 Dec. 1 1924
OPERATIONS, &c.
-The physical property owned by the West Penn 5-year cony debs $2.500,0001 1919 6 g J-D
31.000) gold
c*tf1Chase National Bank. N. Y., trustee.
Rys. Co. and subsidiaries (exclusive of the West Penn Power Co.) includes
100,000
341.03 miles of track (measured as single track), 5 ft. 2 in. and 4 ft. 84 First Equip Trust of 1920_ _- 1920
Serially
Stock.-Pref. stock is red. as a whole or in part at 115 and accrued die.
in. gauge. 301 motor passenger cars, 26 work cars,410 express and freight
cars, 9 sweeper and 38 other cars; car barns at Buena Vista, Harmarsville, on any dividend date upon six months' notice. See V. 102. p. 2082.
-The bonds are a first mortgage on all the physical property,
Bonds.
McKeesport, Tarentum, Kittanning, Garretts Run, Leechburg, Connellsvile, Iron Bridge, Uniontown, Oakford Park, Greensburg, Irwin, Latrobe rights and franchises now owned or hereafter acquired. Additional bonds
and North Huntingdon Two. Pa., and at Beech Bottom, Wheeling, may be issued at par for 75% of the actual cost of permanent improve,
McMechen and Follansbee. W. Va., and at West Wheeling and Steubenville, ments, additions or extensions under certain restrictions. Series "A"
Ohio; repair shops at McKeesport, Tarentum, Garretts Run, Leechburg, bonds are redeemable as a whole or in part since Mar. 1 1921 at 105
Connellsville, Greensburg and Latrobe, Pa., and Beech Bottom, Wheeling, & int. on 4 weeks' notice. Int. on Ser."A,""O" and "D" payable at EquiFollansbee and McMechen, W. Va.; power stations at Connellsville (leased table Trust Co., N.Y.,or Cont.& Comm.Tr.& Say. Bank. Chicago. Taxto West Penn Pow. Co.), Kittanning (oper. by West Penn Power Co.) and exempt in Penna. The series "0"6s are red. all or in part beginnini June 1
Creighton (operated by Allegheny Valley Light Co.), Pennsylvania, and 1923 on the 1st day of Mar., June, Sept. or Dec. upon 4 weeks notice
Wheeling, W. Va.; 77.96 miles of 25,000 volt transmission lines (of which at 106 and int. V. 107. p. 403. $3,000.000 series "D"7s are red. all or in
7.60 miles are leased to the West Penn Power Co.) exclusive of low tension part on 4 weeks' notice since Mar. 1 1921 and to and incl. Feb. 28
distribution lines in cities and towns; and 11 sub-stations having a trans- 1926, at 107,• thereafter to and incl. Feb. 28 1931, at 105; thereafter to
former capacity of 13.350 k. w. (of which one sub-station with a capacity and incl. Feb. 29 1936, at 104; thereafter to and incl. Feb. 28 1941. at
1025,6: and thereafter to maturity at 101; the remaining $3,000,000 are not
of 750 k. w. is leased to the West Penn Power Co.).
OFF10ERS.-I'res., A. M. Lynn; V.
-P. & Sec., R. B. Keating; V.
-P., subject to call until Aug. 1 1926 and then upon same terms as the original
H. L. Mitchell; Treas. & Asst. Sec.C. C. McBride; Asst. Treas., C. P. issue. V. 111 p. 396; V. 113, p. 739. The mortgage provides for an
Kalp; Asst. Sec., G. E. Murrie and W. K. Dunbar; Gen. And., M. W. annual expenditure for maintenance as follows: 1916-20, 134% of bonds
.
out; 1921-25, 2%; 1926-46, 234%: also for a depreciation fund of 2%
Glover.
-V. 112, p. 2084; V. 113, p. 1157, 2407; V. 114, p. 1181, 1409.
of bonds out beginning with 1916 for additions, improvements, &c., against
which no first mortgage bonds may be issued. %. 102, p. 891. All series
(a) Wheeling Traction Co.
are listed on N. Y. Stock Exch. Compare V. 108, p. 1827.
On Oct. 1 1912 control was acquired by the West Penn Traction Co
The 5-yr.6% debentures are convertible at holder's option into 7% cum.
(now West Penn Railways), which now owns all of the stock.
pref. stock of the co. at any time between Dec. 1 1920 and Dec. 1 1924, in
ORGANIZATION.-Incorp. Sept. 1900 in W. Va. Consolidation of the the ratio of 10 shares of stock for each debenture. Are red, all or in part
Bellaire Bridgeport & Martins Ferry Street Railway Co., the Moundsville on 30 days' notice at 101 and int, to and incl. Dec. 11921;at 10034 and int.
Benwood & Wheeling Railway Co. and the Wheeling Railway Co. Owns thereafter to and incl. Dec. 11923. and at 100 and int, thereafter to matentire capital stock of and operates Bellaire South-Western Traction Co. urity. Int. payable in N. Y. or Chicago. Tax-exempt in Pennsylvania.
and Wheeling & Western Ry. Co. Owns entire capital stock of and on. V. 109. p. 2446.
orates under lease the Steubenville & Wheeling Trac. Co. and Pan Handle
The ear trust notes of 1020 mature serially. to June 15 1930.
Trac. Co.; also operates under lease Steubenville Wellsburg & Weirton Ry.
Dtvid,ends.-Divs. on pref. stock nave been paid since organization.




a.

OCT., 1922.]

-For years ending Dec. 31:
EARNINGS.
Common
Balance.
Fixed
Preferred
Net after
Taxes. Charges. Dividends. Dividends. Surplus
Calendar Gross.
Year$
674,523
1921-9,468,570 3,191,590 1,513,814 (7)203,253 (8)800,000
235,521
1920____8,314,220 2.295,930 1,055,732 (7)204,676 (8)800 000
-The physical property owned, directly or through ownerPROPERTY.
ship of all securities, by the West Penn Power Co., includes eight electric
generating stations with an aggregate installed capacity of 75,300 k. w.
(name plate rating), 129 substations having a transformer capacity of
145,600k. w.,and 580 pole miles of high tension transmission lines 44 miles.
132,000 v.. 536 miles 25,000 v.), exclusive of low tension distribution lines.
in cities and towns. In addition to the foregoing the company leases the
power plant of the West Penn Railways Co., located at Connellsville. Pa..
which has an inst died generating capacity of 56,500 k. w. (name plate
rating). The company also leases 7.60 miles 25,000 volt transmission lines
and one substation with a transformer capacity of 750 k. w., and Oleo
ates the plant of the Kittanning & Leechburg Rys. Co., with a capacity
j
o
k. w. Of the installed generating capacity directly owned, 30,000
of
k, w. consist of the company's one-half of the initial installation at the new
power plant at Windsor, W. Va., constructed jointly by the American Gas &
Electric Co. and the West Penn Power Co.
In Nov. 1920 the company placed in operation the new steam power
station at Springdale on the Allegheny River. This station has an installed
generating capacity of 42.000 k. w. and increased the total generating capacity of the West Penn System approximately 42%.
OFFICERS.-Pres., A. M. Lynn; V.
-P. & Sec., R. B. Keating; V.
-Ps..
G. M. Gadsby and J. S. Jenks: Treas. & Asst. Sec., C. C. McBride, Pittsburgh; Asst. Sec., G. E. Murrie and W. K. Dunbar; Asst. Treas., C. F.
-V. 109, p. 1899, 2446; V. 111, p. 80.
Kelp; Gen. Aud., M. W. Glover.
396; V. 112. p. 1815; V. 113. p. 739. 1584.
WEST PENN MONONGAHELA CO. (Controlled by The West
Penn. Co.).
ORGANIZATION.-Incorp. June 14 1922 in Delaware. Formed by
The West Penn Co. to take over control of the Monongahela Pr. & Ry. Co.
CAPITAL STOOK.-Auth., $3,000,000 Prof., par $100, and 1,000,000
shares com, of no par value. Outstanding, $2,369,000 pref. and 929,547
Wt
shares corn, The West Penn Co. owns all of the outstanding pref.' and
619,698 shares of the common.
PITTSBURGH BUTLER & HARMONY CONSOLIDATED RY. &
POWER CO.
ORGAN tZ ATION.-Incorp. in Delaware. Has acquired $2.745,000
of the 33,000,000 capital stock of the Pittsb. liar. Butler & Newcastle By
Co., all of the $1.0d).0,10 capital stock of the Pittsburgh Mars & Butler
Ry. Co. and 1.900 shares of the 3.235 shares capital stock of the North
Pittsburgh Realty Co. All the capital stock of Ohio Harmony Elec. Co
and Harmony Realty Co.
In March 1920 an announcement was made of a profit-sharing plan by
which $1,000.030 cotn, stock would be set aside under a trust agreement for
the benefit of the co's. employees. V. 110. p. 1416.
Interest. Outstanding. Maturity •
Date.
STOO K.54,500.000
Common 24.500.000
1,836,000
•
Preferred $2,000,000
-P. & Gen. Mgr., H. EtheOFFICE RS.-Pres. David I. McCahill; V.
-V. 109, p. 1274; V.110,p. 1416.
ridge; Treas., R. M Glick.
(1) Pittsburgh Mars & Butler Ry.
ORGANIZATION.-successor to tee Pittsburgh & Butler St. By., the
Interurban division of the Pittsburgh & Butler Ry., which was sold at foreclosure May 9 1917 (V. 104, p. 1900). On Sept. 5 1917 made a mortgage
to the Dollar Savings & Trust Co., Pittsburgh. securing an issue of $1,250,000 bonds to provide for improvements. &c. Pittsburgh Butler &
Harmony Oonsol. Ry. & Pow Co. owns all the 81,000.000 stock of the co
EARNINGS.
-For calendar year 1921, gross, $412,497; net, after taxes
and Interest, $21,591. In 1920, gross, $464,164; net, after taxes, $67,930.
-Same as Pitts. Butler & Harmony Consol. By.& Pow.Co
OFFICE RS.
-V. 105, p. 998' V. 106. p 1578, 2346.
above.
(2) Pittsburgh Harmony Butler & New Castle Ry. CO.
ORGANIZATION -Es a consolidation in 1906 of several small comanies. Owns all the cap. stock of the Harmony Elec. Co.and the ElwoodKoppel Bridge Co. In Feb 1910 authorized stock was increased from
$3,000,000 to $3.500,000. Pitts. Butler & Harmony Consol. Ry. & Pow.
Co. owns $2.745,000 of the cap. stock.
Maturity.
STOOK AND BONDS- Date. Intereit. Outstanding.
33.000 000
Stock 53.500.000
2.900.000 June 1 1936
let mtge 83.500.000 • gold( 1906 5 g J-D
coati Int. at Union Trust Co.. Pittsburgh. Trustee
($1.000)
Bonds.-The $690,000 iinNatied are reserved for future ext./Wens
EARNINGS.
-For 12 months ended Dec. 31 1921, gross, $1,153,477;
net, after interest and taxes, $129,243. In 1920, gross, $1,289,519; net,
after interest and taxes, $190,519.
ROAD.-Operates 6.3.5 miles of track from Pittsburgh, via Wexford,
Evans City. Harmony and Ellwood City, to New Castle, with a branch from
Evans City to Butler. Enters Pittsburgh over the tracks of the Pittsburgh
Rye. Co. On Dec. 3 1913 oiaced in operation an extension from Ellwood
City to Beaver Falls. 6'4
-Same as Pitts. Butler & Harmonyponsol. By.& Pow.Co.
OFFICERS.
above.
-V.107, p. 2377; V.108. p. 2529: V. 109, p.1274; V. 112, p. 2306.

y

--

PLATTSBURG, N. Y.
-A trolley road.
PLATTSBURG TRACTION CO.
Delaware & Hudson Co. owns entire stock and bonds.
ORGANIZATION, &c.
-Chartered May 27 1896. Franchise 50 years
from Nov. 20 1895. Capital stock. $100.000 (par $100). First mtge. 6%
gold bonds of 1896, due 1926: int. .T. & J. (tf) at New York Trust Co.,
N. Y., trustee; authorized, $100,000; issued, $80,000.
Dividends.-Annual div. In (Jan.) 1910. 4%; in 1911. 5%; in 1912. 6%
in 1913. 5%; in 1914. 4%: in 1915. 4%. None since.
Gross
Other
Taxes clb Balance.
Net
EARNINGSEarnings. Earnings. income. Charges. Surplus
Year Ending$383
58,5.57 def.$9.026
$39,320 def$852
Dec. 31 1921
706
8,400 def. 4,196
33,123
3,498
Dec. 31 1920
8.306
11,416
752
Dec. 31 1919
37,766
3,462
ROAD.
-Owns 7.58 miles of track: 15 cars; rail, 50 to 80-lb. T.
-Ps., W. H. Williams, N. Y., and
OFFICERS.-Pres., L. F. Loree; V.
H. B. Weatherwax, Albany; V.
-P. & Asst. to Pres., W. B. Schofield, N. Y.;
See., P. M.Olyphant, N.Y.; Treas.& Gen. Mgr.,H.L. Barber, Plattsburg;
Comp., W. E. Eppler, N. Y.; And-B. L. Waters, Albany,.N. Y.

PLYMOUTH. MASS.
PLYMOUTH & BROCKTON STREET R Y.
ORGANIZATION.
-Organized in Mass. in 1922 and acquired the property of tho Brockton & Plymouth St. Ry.(for history see "Electric Railway
Supplement" of April 29 1922).which was sold at foreclosure in July
V. 115, p.. 435. Holders of each $1,000 of the old co.'s 1st mtge. 434%
1922.
in exchange $500 in 1st mtge.6% bonds, $500 in 6% income
bonds received
bonds, and $500 in corn, stock of the new co. as per plan of reorganization
outlined in V. 115, p. 644.
Does electric railway business from Brockton to Plymouth and in the
intervening towns. Is authorized to do a freight business in the towns of
Whitman, Hanson and Pembroke. Franchise perpetual.
STOOK AND BONDS- Date. Interest. Outstanding.
Maturity.
Common
$300,000
c 1922 6,-J
130,000 July 1 1932
1st mtge.$170,000
c 1922 See text.
130,000 July 1 1932
Income mtge. $130,000
-$60,000 of the corn. stock is held in voting trust. V. 1 lo, p. 644.
Stock.
Bonds.-Rematning $10,000 1st mtge. bonds may be issued for add'ns.
exts., and inlets. under certain restrictions. Int. on coupon bonds is
payable annually on July 1 when earnings are sufficient. Sink, fund of
provided for. Int. on the
$5,000 per annum to retire income beads is sink, fund payment
when
income bonds when earned and the annual
postponed by the vote of 75% of the entire board of
earned can only be
directors. The int. on the income bonds, whether or not earned, and the
annual payment of $5,000 for the sink, fund, whether or not earned, shall
be cumulative, so that no divs. can be paid until all of such unpaid accumulated int. and unpaid accumulated sink, fund installments have been fully
paid. Income bonds acquired with sink, fund money will remain alive and
draw int. for the benefit of the fund. V. 115, p. 644.
PAROAD.-Plymouth through Kingston, Pembroke and Hanson to Whitman, 24.3 miles of track. 28 pass. and 9 other cars. Standard gauge.
Power station capacity of 825 k. w.
-P., Chas. I. Litchfield; Clerk,
OFFICERS.-Pres., A. Stuart Pratt; V.
Wm,T. Crawford; Treas., Henry B. Sawyer; Gen. Mgrs., Stone & Webster
-V. 115, p. 1423.
Mgt. Assn.; Mgr., Montelle 0. Smith.




117

ELECTRIC RAILWAYS
POMEROY, OHIO.

-A trolley road.
OHIO RIVER ELECTRIC R Y. & POWER CO.
Receivership.
-On Feb. 25 1919 Harry Hartwell was appointed receiver
for the co. by the U. S. Dist Court.
ORGANIZATION.-Incorp. In Ohio, 1914. Old co. of same name.incorp. In Delaware in 1900. taken over by present co.. subject to $315.000
Let M.5% bond issue. Owns all the capital stock ($30,000) ofthe Pomeroy
& Mtddleport Electric Oo
Interest in Default.
-The int. due Dec. 31 1918 on the co.'s 1st M. 5s
Is in default.
Interest. Outstanding. Maturity.
STOOK AND BONDS- Date.
$150.000
Common stock $200,000
.
150.000
1st pref stock $300,000_
315,000 July 1 1924
let mtge $315,000 gold (11100.1 1900 5 g J-J
$500. 21.000)
c* ntf'Int. at Columbia Ave.Tr.Co..Phila.,Trust.
EARNINGS.
-For calendar years:
Other Inc. Int.& Taxes. Balance.
YearGross,
Net.
def.$36,316
$2,539
$39,650
1921
$107,015
$795
43,650
def. 23,700
1,983
1920
17,967
128,591
of road extending through
ROAD.
-Owns and operates 12.65 miles
Vilddleport. Pomeroy. Syracuse and Racine, Ohlo.
OFFICERS.-Pres., F. W. Bacon; Sec., W. J. Devine; Treas., Harry
Williams Jr. General office, Phila., Pa.
-V. 99. p. 1301.

PORT CLINTON, OHIO.
NORTHWESTERN OHIO RAILWAY & POWER CO.
ORGANIZATION.-Incorp. In 1912 in Ohio to take over the Toledo
Port Clinton & Lakeside Ry.(V. 95, p. 48), which in April 1913 reduced
its capital from $1,800,000 to $1,500,000. All of the $800.000 (authorized
and Issued) corn., $500,000 (auth. 5700.000) pref. and S1.293.000 (auth.
$5.000.000) 1st M.5s are owned by the General Gas & Electric Co.. which
see in our "Ry. & Ind." Section. Operates a high-speed interurban electric
railway between Toledo and Bay Point, connecting by ferry to Sandusky.0.
Electric light and power is furnished in Ryan, Curtis, Clay Center, Genoa,
Elmore, Oak Harbor, Port Clinton, Gypsum, Danbury, Lakeside and Marblehead. The power plant is near Port Clinton on the shore of Lake Erie.
EARNINGS.
-For 12 mos. ending Dec. 31:
Cal Yr.Balance.
Gross. Net (aft. taxes). Int. &c.
$68,549
1921
$69,036
sur.$487
$469,241
$68,9J3 sur.$5.360
$71.233
*167,713
l920
ROAD, &c.
-Operates 52 miles of track from Toledo to Elmore. Oak
Harbor, Port Clinton and Marblehead. In addition operates a line during
;he summer months to Bay Point. 3 miles east of Marblehead. thus making
itrect connections with Cedar Point and Sandusky. In Toledo operates
m about 3 miles of Toledo Rye.& Lt. track. Standard gauge,70-1b. T rail
10 pass. cars. 2 express motor cars, 34 non-motor freight cars; total. 46 cars.
V. 95 to 43 176.
-P.
OFFICERS.
-Pros., W.S. Barstow: V. & Gen. Mgr.,F. K. Woodring;
Treas., W. Buchsbaum; Sec., C. N. Wilson; Asst. Treas. & Asst. Sec., C. C.
-V. 107, p.83;
Clash; Gen. Mgrs., W.S. Barstow Management Association.
V.103 p 480; V. 111, p. 589.

PORT JERVIS, N. Y.
PORT JERVIS TRACTION CO.
-Incorporated in New York on June 1 1910 to take
ORGANIZATION.
aver the railway business of the Port Jervis Elec. Lt. Pow Gas & RR.Co.
sold at auction on Jan. 27 1909. The Port Jervis Light & Power 0o.
($118,000 stock. $188.000 bonds) was also incorp. to take over the light
and power business. The bonds of the Traction Co.are owned by the Light
& Power Co.
Interest. Outstanding. Maturity.
STOCK AND BONDS- Date.
Stock 520.000_
819.935
70.000
1960
Sfortgage 570.000 gold __ __est
5 g A-0
Int. pay. at office of trustee(Orange Co. Tr. Co.,Middietown.N.Y..True.
Ronde -Slublect to call at 105 on any Interest day
EARNINGS.
-For calendar year 1921, gross, $26,384; net, after taxes,
def., $7,642. In 1920, gross, 518.619; net, after taxes, def., $10,522..
girder rails,
KOA U.
-Operates 3.915 miles of tract. 70-lb.
7 cars
-P., R.R.Livingston; ec.& Treas.
OFFICERS.-Pres.,S. D,,)prong; V.
F. C. Bates; Mgr., Chas. C. Wagner.
-V.83, P. 158, 296; V. 99. p. 271.

PORTLAND, ME.
CUMBERLAND COUNTY POWER & LIGHT CO.
OBGANiZATION .-Incorp. In Maine March 14 1907. On Feb. 1 1912
leased for 99 years the Portland RR. Co. V. 94, p. 826. In July 1912
acquired all the properties, rights and franchises of Consolidated El. Lt. Co.
of Maine, Portland Lighting & Power Co. and Portland Electric Co.. which
cos were previously controlled through stock ownership. On Dec. 18 1912
purchased capital stock of the Ossipee Valley Power Co. On Feb. 1 1913
acquired practically all the common stock of the York Power Co., controlling the York Lt. & Ht. Co. V. 97, p. 368. Owns approximately onethird of the capital stock of the Androscoggin & Kennebec Ry.Co. In April
1913 the Ossipee Valley Pow. Co. and the York Pow. Co. were mama&
forming the York Co. Pow.Co. Also controls the Westbrook El. Co. Does
entire electric light and power business of Portland and vicinity. Through
subsidiary companies operates street railway systems of Portland and South
Portland, with lines to Yarmouth, Cape Elizabeth, Saco, Old Orchard.
Westbrook, Gorham and South Windham. The electric light and power
business in Biddeford. Saco, Old Orchard. Kennebunkport, York Harbor,
Alfred. Sanford, Springvale, Freeport, Westbrook, Gorham; also gas in
Biddeford and Saco.
Franchises.-l'he franchises under which the companies operate are
stated to be exceedingly liberal anr, to have no burdensome restrictions.
Fares.
-In July 1918 the P. U. Comm. refused to grant a 6-cent fare
fare within the old city limits of Portland and an 8-cent fare to suburbs.
In the latter case the company was authorized to put into effect a 6-cent
fare and a rate of 2 cents per mile was fixed for riders to more remote
places. V. 107. p. 501. Effective June 16. 1919 the co. was auth. by the
P. S. Comm. to increase fares in Portland and vicinity from 6 to 7 cents and
to raise the single zone fare from 2 to 2 1-3 cents. V 108, p. 2133. In
Aug. 1920 was auth. to Increase ticket fares from 7 to 8 cents and cash fares
from 9 to 10 cents. V. 111, p. 692.
The $500,090 Perth Ltg & Pow. Co. 1st M. 430 due Apr. 1 1921 were
A cash bonus of $15 on each $1,000 of
extended to Apr. 1 1931 at
V.1.12, p. 1399.
bonds so extended was paid. 7%.
In May 1921 issued $600,000 5-year 8% coll. tr. bonds, proceeds being
-year 7% notes due June 1 1921.
applied to the retirement of $614.000 3
. 112 v. 21/19.
In July 1922 brought out $900,000 1st & ref. 5% bonds, proceeds being
used for additions and improvements. V. 115, p. 313, 435.
S rooK AND BONDS- Date,. Interest. Outstanding. Maturity.
31.348.400 Sept'17.1%
Q-M
Common 51,350.000($50)_--- ---See text
Q-F
2,530,000
Pref ($1OO) 6% cum red atj ____
120 & accr div
3,818,000 Sept 1 1942
(
let & ref mtge $10,000.0001 1912 5 M-S
c*tf Empire Tr. Co.. N. Y. Trustee
gold ($1.000)60',000 June 1 1926
'
5-year collateral trust bondsf 1921 8 J-D
see text
clFidelity Trust Co.. Portland, Me., Trustee.
($530 and 21,000)
500,000
Port E1 Oo prof sck 5500,0001 -,Q-P
($100)69'cum(see text)ntf)d. O. Bancroft, Portland. trustee. •
1.095.000 Aug 1 1926
Port Eiec ColstM 51.500.0001 1906 5 g F-A
g ($1.000) sink fd___c*tt(Int. at Portland Trust 00.. Portland, True.
Portl Ltg & Pow first mtge 1901
7 A-0
00"0 on,Trustee.
o.,BostAprili3
191
5
$750.000(crsd)($1.000)ctf Int. at American Trust0
500.000 Jan 1 1925
Oonsol El Lt Co of Me 1st M 1900 434g J-J
($500 and $1,000) gold_c.tf Int. at Union S. D.& Tr.Co.,Portland True
York County Power Co.46.000 July 1 1930
agamenticus El Lt 1st M_c_tt 1910 5 g J-J
7,500 Jan 1 1930
Wells El Lt & P 1st Mc____tf- 1910 5 g J-J
63.000 July 1 1930
Kennebunk El Lt 1st NI _c_ntt 1910 5 g I4
343.000 April 1 1927
York Lt & Ht 1st cons ref MI 1907 5 A-0
7 5.0
o Portland, True.
1
(closed)($500 & $1.0001ctfInt. at Un. S. D.& T.00..P0oo Decrtlan 1 943
rock Co Pow 1st & ref M $2,- 1913 5 13 J-0
($500&$1.000)c5tf Int. at Portland. Me.. and N. Y. City.
500.000
Fidelity Tr. Co.. Portland, Me., Trustee.
8 c)-.1
. Guar.
383.000
York Co Pow pref stock cumf ____
(guar by C0P & L)

V

118

Stock.
-Both classes of stock arelisted on the Boston Stock Exchange
V. 95, p. 1206. The company has the option at any time to redeem all or
part of the Portland Electric Co. prof. stock at 115 and accr'd div. on 15
days' notice, and may at any time, with consent of owner, red. pref. stock
at less than 115. Pref. stock of the Portland Elec. Co. falls due and is pays
ble on Aug. 1 1926 at par and accrued dividends.
Bonds.
-Of the remaining first and refunding mortgage bonds,$3,000.000
are reserved for prior liens. and $2.660,000 are for ext.. impts.. &c. tinder
certain restrictions. $400,000 are pledged under the 5-year coll. trust
8% notes and $122,000 are held in treasury. Callable as a whole on
any interest date at 105 and interest on 60 (lays notice. Bonds have a
depreciation and trust fund from July 1 1915 of 1% per annum of bonds
outstanding, but not less than $20,000 a year for purchase of bonds at not
over 105 and int. or for replacements, extensions and additions. Interest
payable at A. B. Leach & Co., N. Y. V. 95, p. 361. Port'. EL 1st intge
bonds are callable at 110 and accrued interest on 5 weeks' notice as follows:
Nos. 1 to 125 on and after Aug. 11911; 126 to 250 on and after Aug. 1 1916
and 251 to 375 on and after Aug. 11921. Sinking fund of 1% p. a. of bonds
•out began Aug. 1 1911, inclusive any bands purchased for or redeemed by
sinking fund. $405,000 (not included in amount outstanding) in sinking
fund. V. 90, p. 1243. The $2,500.000 York County Power bonds are
guaranteed by the Cumberland County Power & Light Co., and of this
amount $705.000 are outstanding, $205,000 in treasury of York County
Power Co., $508,000 are reserved for underlying liens and $1,067,500 for
additions and impts. Bonds are red. at 105 on any interest date upon
60 days' notice. Sinking fund of 3 of 1% of bonds out began Dec. 1 1917:
$14,500 are in sink. fund. V. 99, p. 1451, 1597. $43,300 Agamenicus El.
, Lt.. $22,500 Wells El. Lt. & Pow. Co. and $37,000 Kennebunk El. Lt. Co.
bonds, in addition to the amounts reported outstanding, are held by trustee
of the York Co. Pow. Co. All three mtges. are closed. Guar. by York
Co. Pow. Co.; int, payable at Union S. D. & Tr. Col., Portland, trustee.
York Lt. & Lit. Co. 1st cons. ref. bonds have a sinking fund which began
April 1 1911 of 2% of gross income: $48,000 are hold in sinking fund
The Portland Lt. & Pow. Co. 1st Mtge. bonds are a direct obligation of
the Cumberland County Power & Lt. Co. and sufficient of that co.'s 1st &
ref. 5s due 1915 are reserved for the retirement of these bonds. The
Portland Ltg. & Pow. bonds were originally 4/s and matured April 1 1921
but were extended for 10 years at 7% are call, as a whole on any int. date
at 105 on or before April 1 1926; at 103 before April 11928; at 102 before
April 1 1929. and at 101 before April 11930. V. 112, p. 1399.
Notes.
-The 5-year 8% coll. tr. bonds are secured by $400,000 Cumberland County Power & Light Co. 1st & Ref. 5s, 1912; $86,000 Portland RR.
1st Lien & Consol. 5s 1945; $426,000 Androscoggin & Kennebec Ry. 1st
Pref. Cum. 6% stock; $490.000 Andro'coggin & Kennebec Ry. 2nd Pref.
57 stock. The corn. & pref. stocks are represented by certificates of beneficial interest. Int. payable in Boston or Portland, Me. V. 112, p. 2189.
Dividends.
-6% p. a. was paid on the pref. stock from Feb. 1 1912 to
May 1 1918, both incl. None to Feb. 1921 when 6% was paid. The
May 1 1918 dividend was paid in scrip. Initial dtv. of 1% paid on corn.
Dec. 11916: same rate quar. to Sept. 1917. None since
EARNINGS.
-Of combined properties for year ending Dec. 31:
Balance.
Gross
Net (after De- Interest Preferred
Dec. 31
Taxes.)
Surplus.
Year&c. Dividend.
Earnings. prcc.
$3,305,110 $1,062,275 $697,876 $241,500 $122,899
1921
3,114.008
971,174
667,483
303,691
1920
LATEST EARNINGS.
-Years end. June 30:
$3,377,098 $1,101,505 $706,132
$395,373
1921-22
3.264,120
1,132,366
677,929
1920-21
454,437
PROPERTY.
-On July 12 1917 the co. placed in operation the first
section, containing a 3,000 k. v. a. unit of a new generating plant on the
Saco River at Hiram Falls, which is to have an ultimate capacity of 20,000
k. v. a. In addition, the co. owns op controls 5 hydro-electric power plants
on the Saco and Presumpscot rivers within 25 miles of Portland and 6 steam
power plants, combined capacity 26.010 k. w., with transmission linos to
Portland, covering entire city and suburbs; also to Sanford, Mo. aggregating 108 m. The single-track mileage of the controlled railways is 271
OFFICERS.-Pres., H. M. Verrill; V.
-P., Frank D. True: Treas.& Clerk,
Chas. F. Berry, Sec. & Asst. Treas.. C A. Pearson. Jr.: Gen. Mgr., Fred
Gordon. Thaler management of E. W. Clark & Co. Mgt. Corp.
-V. 112,
p. 743, 1399, 1977, 2189; V. 114,p. 409, 947; V. 115, p. 313, 435.
(1) Portland R ai I road.-Trotley
ihease.-Leased for 99 years from Feb. 1 1912 to the Cumberland County
Pow. & Lt. Co., lease providing for all interest and other current charges
and 5% divs. on capital stock.
AbORGANIZATION.-Incorp. March 1860 under laws of Maine
sorbed the properties of the Portland & Cape Elizabeth Ry., Cape Shore
Ry., Cape Elizabeth St. Ry., Portland & Yarmouth Elec. Ry. and Westbrook Windham & Naples. Franchises contain no objectionable restrictions; many are unlimited as to time.
Fares.
-In Jan. 1919 the Maine P. U. Comm. auth. the co. to charge a
6-cent ticket fare on all city lines with a minimum cash fare of 10 cents
Auth. to establish a zone system, in order to equalize the length of ridas for
the fares charged, was also granted. V. 108, p. 260. In Jan. 1919 the
State Supreme Court denied an injunction to restrain the company from
collecting a cash fare when no ticket is offered. V. 108, p. 481.
Date.
Interest. Outstanding. Maturity
STOCK AND BONDS5 F-A
$1,999.000
See text
Stock $2,000,000 5% gu ($100) ____
1,600.000 July 1 1951
3 g J-J
1st cons (now 1st) $3,000,000j 1901
($1.000& $500) gold _ _c*tflInt. at Portland Tr. Co. Portland, trustee
1,959.000 Nov 1 1945
First lien & cons $7.500.000 1915
5 g M-N
gold ($1.000 & $500)-c*tf I Int. at New York Trust Co..trustee
Bonds.-RematnIng $1.400.000 first cons.(now 1st) M. bonds are pledged
as security for the first lien & cons. M. 5s. Bonds can be called at par and
int, on any int. date after July 11931. V. 73. p. 139; V. 91, p. 871. Of
the remaining first lien & cons. M. 5% bonds, $1,600,000 are reserved for
retirement of prior lien bonds and $3,855,000 for extensions, impts., &c.
Outstanding bonds are secured by deposit of $1,400,000 1st cons. (now 1st)
6
mtge. 35, s; are callable as a whole or in part at 105 on any int. date.
-The following divs. are on old stock prior to lease.
Dividends.
Year.'95-'99. '00. '01. '02. '03. '04. '05. '06. '07-11. Since
3 3 3t 4 Y'lY 5 year'
3
3
5 6
Per cent
6%
ROAD.
-Operates 106.6 miles of track, comprising the entire street
railway systems of Portland and South Portland. with suburban lines to
South Windham, Saco, Westbrook, Cape Elizabeth Gorham. Old Orchard
and Yarmouth, where connection is made with the Androscoggin & Kennebec Ry. 160 passenger. 4 express and 44 others. One steam power plant
with 1,600 k.w. capacity. Seven sub-stations.
OFFICERS -Pros Fred. N Dow; V.-P., Charles H. Prescott; Clerk
-V. 111, p. 190, 692; V. 114, p. 2013.
& Treas., Chas. F. Berry.
ANDROSCOGGIN & KENNEBEC RV.
Cumberland County Power & Light Co. owns approximately ono-third
of the co.'s capital stock.
ORGANIZATION.-Incorp. in Mo. on Sept. 30 1919 as successor to the
Lewiston Augusta & Waterville St. Ry. as per reorganization plan outlined
In V. 110, p. 1089. The co. Is now the owner of the properties formerly incl.
under the Lewiston Augusta & Waterville St. Ry. 1st & ref. mtge. (excepting the franchise of the Turner line, which line we understand loas
been taken over by the town of Turner, V. 110. p. 1188, subject to the
underlying liens found in the table below. Holders of each $1,000 Lewiston Augusta & Waterville St. Ry. 1st & ref. bonds received in exchange
therefor $500 1st pref. and $581 2d pref. stock of the present co. For
statement of predecessor co. see "Electric Railway" supplement of Nov.
15 1919.
Committee.-Bonciholders First & Refunding Mortgage Lewiston Augusta
& Waterville St. Ry., Henry W. Cushman, Frank S. Stillman, Jr., Frank
D. Truis, C. Stevenson Newhall. with John F. Dana, Sec. 57 Exchange St.,
Portland, Me. Depositaries: Fidelity Trust Co., Portland, Me., and
Fidelity Trust Co., Philadelphia. V. 110, p. 970.
-In Aug. 1920 the co was auth. to increase fares to 9 cents
Fare Increase.
cash with 6 tickets for 50 cents V 111. D 989. Outstanding. Maturity.
Interest.
Date.
STOCK AND BONDSNone
Common, $1,354,500
See text
$1,468,500
6%
1st pref. (see text)$1,468,500 ($100)
See text
1,708,200
5%
pref. non-cum,$1,708,200 ($100)
2d
84000 Mar 1 1940
5,
1(120
6%
let mortgage bonds
Securities of the Aug. Win. & Gar. lig.55,000 July 1 1951
4g
Aug. H.& G. gen. mtge. con-! 1901 Augusta Tr. Co., Augusta, Trustee.
vertible ($500$1,000) c ntfl Int. at
195000 July 1 1951
,
%
re
000 July 1 1952
53,
04 1902 4 g JaT
AugWin & Gard 1st M $15
000conv($1,000&$500)gentf tInt. at Augusta Tr. Co., Augusta. Me.,Trus.
97,000 July 1 1952
pref stock- ---4%
Aug Win & Gard
100,000 Jan. 1 1935
5 g J-J
Aug Win & Gard gen NI $125,-1 1905
000(5500,$1,000) gold c ntfl Int. at Augusta Trust Co., Trustee.




[VOL. 115.

ELECTRIC RAILWAYS

Stock.
-The co. expects during the next three to five years to expend
about $900,000 upon its system for equip., impts., and rehabilitation.
Pending the completion of this program the $1,468,500 1st prof. and the
$1,708,200 -2d prof. stock is to be held by the Lewiston Augusta & Waterville St. By. 1st & Ref. M. bondholders' committee in a voting trust.
When the rehabilitation program has been completed (or sooner with the
committee's consent) the stock will be released from the voting trust and
distributed as per the reorganization plan. See above and also V. 110,
D. 1089. The 1st pref. stock is cumulative after 1922.
Bowis.-The co.'s lit M. bonds due 1910 were issued in exchange for a
like amt. of Lew. Bruns. & Bath St. Ry. 1st M. 5s. due Mar. 1 1920.
All the underlying mortgages are closed mortgages. The Augusta
Winthrop & Gard. Ry. gen. mtge. 5% bonds of 1905 are subject to call at
par on any Int, day on 60 days' notice. The Aug. Winth. & Gard. Ry.
1st M. 4% bonds are exchangeable for 4% prof. stock of the same co.,
which stock has the same security as the bonds and matures at the same
time. $97,000 have been exchanged. Subj. to call at 104 and int. on any
Int. The Aug. H. & Gar. gen. M. 4% bonds are exchangeable for 4%
pref. stock of the same co., having the same security as the bonds and maturing at the same time. $195,000 have been exchanged. Callable at
104 and int. on any int. date.
Dividends.
-On 1st pref., 3% paid May 11921; 3% Dec. 1921. In 1922,
May, 3%. On 2d pref., 23 % was paid in Oct. 1922.
EARNINGS-For years ending Dec. 31:
Balance
Gross.
Expenses Net Aft.
Sur. or Def.
Int.,&.c
Earnings & Taxes
Taxes
1921
$1,284,675 $1,021,125 $263,550 $83,979 sur.$179,571
sur.69,321
78.493
1,009,716
147.814
1,157,530
1920
13,917,371 passengers carried in cal. year 1921, against 13,740,437 in 1920.
ROAD -Operates a system in and between Waterville, Augusta, Winthrop, Togus, Gardiner, Sabattus, Lewiston, Auburn, Mechanic Falls,
Brunswick, Freeport, Yarmouth and Bath. 157.458 miles of single track.
96 passenger. 58 freight and express cars, 13 snow plows and 7 misc. cars;
total, 169 cars. Has one steam plant with an installed capacity of 500 k.w.
-Pros., Wm. B Skelton; V.
OFFICERS.
-P. & Counsel. Wm, H. Newill; Treas., Miss G. E. Fitz, all of Lewiston, Me.; Gen. Mgr. & Clerk,
%Wed Sweeney. V. 109, p. 2439; V. 110, p. 969. 1088; V. 111, p. 989
ANDROSCOGGIN ELECTRIC CO.
ORGANIZATION.-Incorp. in ',Slain° Oct. 26 1914 and purchased the
properties of the Lewiston & Auburn Elec. Lt. Co. and the Portland Lewiston Interurban ItR. The interurban road is on private right-of-way for
28 miles and on the highway for 2 miles. Charters and franchises liberal.
ties favorable
supply.ontraetith city of Auburn for lighting streets and ways and
um
Water
In Aug. 1921 the co. was auth. by the Me. P. U. Comm. to sell $415.000
5% bonds of 1914, proceeds to be used in payment of unfunded debt and
In reimbursement of treasury for capital expenditures made since Oct. 26
1914. V. 113. D. 729.
Interest. Outstanding. Maturitt4.
STOCK AND BONDS- Date.
$1,.550000:000000
Jommon stock $1.500.000Preferred stock $500,000----- --'
1.940.500 Oct 1 1934
5 A-0
lit & refund mtge $5,000,0001 1914
($1,000 and $500) gold_tf Int. at Union Safe Dep. & Trust Co.. Portland, trustee.
1,200.000 June 1 1939
5%
Lewiston & Auburn El Lt mtge _-_Bonds.
-!1,200.000 1st & ref. M. 5% bonds are reserved to retire the
Lewiston & Auburn bonds; remainder may be issued for 80% of cost of new
work under conservative restrictions. Not subject to call. V. 102. p. 607.
EARNINGS.
-For year ending Dec. 31 1918, gross, $558,436: net.
$263.919. Railway dept. only, gross, $184,254; net, after taxes. $58,175.
En 1917, gross, $525,444; net, $267,623. Railway dept. only, gross, $163.656; net, after taxes, $51,306.
PROPERTY.
-Owns developed water power at Doer Rips on the Aniroscoggin River of 5.000 k. w. capacity, and operates under long and f avorable leases two developed water powers on the Little Androscoggin River
of 750k. w. and 350 k. w. respectively. Also owns and operates 30 miles
of high-speed interurban road connecting Lewiston. Auburn and Portland.
Enters these cities over tracks of the local street railway companies under
operating agreements. 8 passenger cars, 2 baggage and express cars. 1
electric locomotive and 8 flat cars.
-V. 113, p. 729.
OFFICERS.-Pres. Walter S. Wyman, Augu.sta, Me.

PORTLAND, ORE.
PORTLAND RAILWAY. LIGHT & POWER CO.
ORGANIZATION.
-Incorporated in Oregon June 29 1906 and has purchased all the property of the Portland Ry. Co., the Oregon Water Power &
Ry. Co. and Portland Gen. Elec. Co. V. 86. p. 1044. On March 21
1912 acquired the Mt. Hood ity. & Power Co. V.94, p. 983. During 1912
sold the railway property in Salem for $355,333 and the Willamette Falls
By.. 9 miles in length,tor $170,000. In May 1914 purchased the Yamh111
Electric Co. In Jan. 1914 acquired a majority of the 51.000.000 cons. stock
of Willamette Val. Southern ay., incorp. in 1911 to construct a road from
Oregon City to Angel City, 32 miles. Line was placed in operation on
Jan. 31 1915. Regular passenger service from Portland to Mt. Angel inaugurated Oct. 23 1915. With the exception of two interurban lines the
company operates all the electric railways in Portland and vicinity, Including interurban lines to Oregon City. Troutdale, Cazadoro and Bull Run,
Ore., and over the new inter-State bridge to Vancouver, Wash. Does most
of the electric light and power business of Portland and vicinity: also all of
the electric light and power business in Salem, Oregon City, Sliverton.
Woodburn and many smaller communities in Ore, and in Vancouver Wash..
and operates the gas plant in Salem. Power is sold to the two interurban
lines above mentioned, to the Southern Pacific, and also to the companies
operating the street railways in Salem and Vancouver. The Yamhill Elec.
Co. supplies electric light and power service to Newberg and other points in
Yamhilf County. Railway franchises in Portland expire in 1932 and 1933.
Light and power franchises in Portland and Salem are perpetual; in Vancouver they expire in 1927. Has franchise to carry freight in Oregon City,
expiring in 1926. In Dec. 1916 obtained a franchise to operate over the
now bridge connecting Portland, Ore., and Vancouver, Wash. One-half
the profits are to go to Clark and Multnomah counties, by whom the bridge
was built. The company's transmission linos and a large part of the
interurban railway are on private right of way.
On March 15 1910 the Oregon Supreme Court handed down a decision
which in effect sustains the franchise covering portions of 40 streets passed
by City Council April 28 1909 over the Mayor's veto. See V. 90, p.
On Feb. 21 1913 a franchise covering about 22 miles of streets, including
the proposed "7th St. Lino." was granted. The franchise expires in 1932
and contains a provision that at that time appraisers may be appointed to
arrive at the value of the company's equipment, with a view to the purchase
of the lines by the city. V. 96, p. 654.
In Nov. 1912 the co. brought suit to restrain the city from enforcing the
"straphanger ordinance" (limiting to 3 cts. the fare charged passengers for
whom no seats are provided), and also the 50-cent minimum gas and electric rate ordinance. A temporary injunction against the enforcement of
the former was granted in Dec. 1912, but application for an injunction to set
aside the latter was denied by Judge Bean in the U. S. Dist. Court on Nov.
V. 95. p.
25, on the ground that the Federal Court has no jurisdiction
1542, 1274.
Favorable Decision.-Judge Harris in the Supreme Court at Salem in May
1916 held void the ordinance requiring a tax of 3% on gross earnings (V.96.
D• 1157). V. 102, p. 1718.
Valuation.
-The Oregon P. U. Comm. on Apr. 30 1917 placed the valuetion of the company's property as of Dec. 31 1916 for rate-making purposes
at $46,862,972, or about 514.000,000 less than the co.'s valuation. See
V. 104, p. 1900, and compare V. 103, p. 61.
Fare Increase.
-In Jan. 1915 the Oregon P. S. Comm. auth. the cc, to
increase it; fares from 5 to 6 cents, tickets to be sold 5 for 30 cents and 50
for $2 75. This schedule became effective Jan. 15 1918. V. 106, P. 190.
Compare V. 105. p. 1618. On Jan. 14 1918 the Comm. denied the city's
petition to have the order suspended, or its operation postponed pending
litigation In the courts, but ordered that receipt slips be attached to tickets
sold by the company, which are to be redeemed for the amount of excess
fare charged in the event the courts declare the order invalid. On Mar. 14
1918 the Circuit Court of Multnomah County, Wash., upheld the ruling
-cent fare. The city has appealed
of the P. S. Comm. In granting the 6
to the Oregon Supreme Court. See also V. 109. p. 2263. Effective June 15

OCT., 1922.]

ELECTRIC RAILWAYS

1920, the Oregon P. S.Comm. issued an order fixing fares at 8 cents cash.
with strip tickets at 6 for 45 cents and book tickets at 50 for $3 65 V. 110.
p. 2568. Effective Sept. 9 1920, the faro between Portland, Ore., and
Vancouver, Wash., was raised from 15 to 17 cents. V. 111, p. 1370
-On Dec. 5 1918 was auth. by the Oregon P. S. Comm. to increase
Rates.
power rates, effective immediately. V. 107, p. 2290. 2377. Comport
V. 107, p. 803.
In Feb. 1921 the co. disposed of $1,000 0008% 5-yr. notes to Its employeee
:
and customers. pr weeds being used for ITttnts., &c. V. 112. P. 850- 1399
On
31 1921 the stockholders voted to (1) authortne the creation of
Aug.
$10.000.000 7% corn. prior prof. stock; (2) to increase the 1st pref. stook
by $2,500.000; (3) to retire the $15,000,000 of 75% paid corn. stock outstanding and issue in exchange therefor $11,250.000 ful3-paid corn.: (1) to
reduce the auth. amt. of corn. stock from $25.000,000 to $20,000,000. For
full details see V. 113, p. 1561.
In May 1921 brought out $1,500,000 1st lien & ref. Mtge. 734% 25-yr.
bonds ser. "A" to reimburse the co. for the acquisition of property heretofore temporarily financed and to supply current working capital. V. 112.
p. 2084.
In Sept. 1922 sold $2,500,000 1st lien & ref. mtge. sor."B"(is. V. 115,
p. 1429.
In Oat. 1922 brought out S1.000,000 7% prior pref. stock. Ser."A." to
retire floating debt incurred for construction expenditures. V. 115, p. 1838.
STOCK AND BONDS- Date.
Common $25.000.000($100)-- ----

119

EARNINGS.
-For years ending June 30:
Interest,
Net
June 30
Gross
Balance,
Exp., Deprec.
Earnings.
&c.
Year- Earnings.
& Taxes.
Surplus.
1921
$9.908,387 $5,953,105 $2.955,282 $2,140,664 $814,618
3,113.652
2,079,496 1,034,156
1920-21 _
6.989,951
_10.103,606
-22---95.062.750 pas-engers carried in cal. year 1921. against 100,703,813 in
1920.
ROAD.
-Operates a total of 313.6 miles of single track (of which
.97.4 miles owned, 35.00 miles controlled through stock ownership and
1.02 miles owned by outside interests). Owns 612 passenger cars, 486
freight and miscellaneous cars and 9 locomotives. Water-power plants
have a capacity of 46,380 k.w.; steam plants. 33,000 k.w. capacity. Total
capacity 81.340 k.w. Work now under way on development on Clackamas River which will have an ultimate capacity of 80.000 k.w.. initial
!opacity 20,000 kat% V. 113. p. 2722. Has 417 miles of high-tension and
distribution lines. Owns a 9-story fireproof building in business centre of
Portland used for its offices, the only park and amusement resort near
Portland. also real estate in Portland suitable for terminals.
-Ps., F. L. Fuller, Portland
OFFICERS.-Pres.. Franklin T. Griffith; V.
0 B. Coldwell, Portland; E. W. Clark and H. L. Clark, Phila.; Sec. and
Treas.. G. L. Estabrook, Phila.; Asst. See. and A.sst. Treas., R. W. Shep-V. 110, p. 167, 1416,
herd; Asst. Sec. & Asst. Treas. W. L. Lamont.
2292, 2568; V. 111, p. 1370; V. 112. p. 850. 1399. 2084. 2643; V. 113. p. 533,
'
526, 1561, 2080, 2313. 2722; V. 114, p.1409; V. 115, p. 1429, 1838.
---An interurban road.
OREGON ELECTRIC RAILWAY.
Spokane Portland & Seattle Ry. owns entire common stock.
ORGANIZATION.-Encorporated in Oregon on May 14 1906. Exlusively an interurban road. Does no street railway business. Principally
m private right of way. Has a contract for power (extending to 1938, with
.irivilege of renewal for 25 years) with Portland Railway, Light & Power Co.
Interest. Outstanding. Maturity.
STOOK AND BONDS- Date.
$1,950,000
Jonarnon $5,000.000 ($100)--6 F-A
200,000 In 1914,6%
'ref $5.000,000($103)6% corn ____
380.000
Deferred stock $400,000 ($100)
2.000,000 May 1 1938
First mortgage $10,000,0001 1908
5 g M-N
($1.000) gold _
_ cs&rtf lint. at Columbia Tr. Co., N. Y.. trustee..
Bonds.
-$8.000.000 remaining bonds reserved for permanent extensions
.ni imorovements at 801 of cost. Bonds are subject to call as a whole
.r In part at 107 and interest on any interest day.
Dividends.
-On pref. in 1911. 1912. 1913 and 1914. 6%. None since.
& ARNINGS.-For cal. years:
Deficit.
Gross.
Net, aft. Tax. 0th. Inc. Interest, &c.
1921
Year$8,443 $572,330
31,293.506 def.$85,178
$649,066
563,618
1,408,856 def.236,829 x313,899
486,548
1920
Includes $301,886 U. S. Govt. estimated guaranty.
-Operates Portland to Eugene, 122.31 miles; Garden Home to
ROAD.
d'orest Grove. 19.45 miles: West Woodburn to Woodburn. 2.53 miles; Gray
so Corvallis, 5.20 miles. Oreuco to Bowers Junction, 5.05 miles; trackage
•ights. 1.72 miles; total length of line. 156.26 miles. Standard gauge.
70-lb T rails
-P., W. D. Skinner; Sec. & Compt.,
OFFICERS.-Pres. W.F. Turner; V.
-V. 93,
Robt. Crosbie; Treas.. Chas. C. Rose; Gen, Mgr., A. J. Davidson.
p. 1535; V. 95, p. 1274; V. 107, p. 2188; V. 113, p. 2081; V. 114, p. 2013.
--PORTLAND EUGENE & EASTERN RAILWAY.
In April 1915 was absorbed by the Southern Pacific Co. See our "Rail.
ay and Industrial" Section.

Interest. Outstanding. Af itarit;
f $15.000,0001 See text
Q-M
1 75% Paid 1
Prior prof cum $10,000,000_ -- --__
7 Q-J
1.645.200
See text
6,250.000
6%
See text
1st prof $10.000,000cum($100) ____
do non-cum ($100)____
6%
5,099.000
2d prof
5 g F-A
Portland Ry Lt & Pow 1st &( 1912
L3,578.700 Feb 1 1942
ref mtge S75.000,000 gold? Int. at Fidelity Tr. Co. Phila., True., Lee
c*Scr*tf I Higginson & Co. Bos%; Fligginson & Co.
(see text
I London Eng.. anil Columhia Tr.Clo.,N.Y
1st lien & ref. mtge. ser "A") 1921 734 g M-N 5 121 500 May 1 1010
i 1922 6 g M-N
3eries "B"
2,500,000 May 1 1917
($500. $1,000, $5.000) gold; Int. at Nat'l City Bank, N. Y., trustee.
c*&rtf I
gold
Serial notes $2,000,000 (S1,1 1919
7 g J-D
1.000.000
Sae text
000,$5,000 & $10,00fl(g c tf I Iti,t. at Guaranty Trust Co., N. V. trusts,'
1 110 720 Mar 1 1926
5-year notes ($100. $500 and), 1921 8 g M-S 1
c&r(Title & Trust Co., Portland, Ore., Trustee.
$1,000) gold
See text
General mortgage
1918
6%
5 g M-N
7,03 000 Nov 1 1930
Portland Ry 1st & refunding 1905
mortgage $10,000.000 gold Interest at office of Relmond & Co , N. Y :
New York Trust Co. Trustee.
_
c*tf
($1.000) sink
1,290.000 June 1 1930
City & Sub con fund(now 1st) M 1900
4 g J-D
($1,000) g (closed)____ccpt Int. at Sacur. Say. & Tr Co .Port., trustee.
7.43s 000 laly 1 1935
Portland Gen El first mtge 1905 5 g i-J
(see text) gold ($1.000) c*tf Int. at Harris, Forbes & Co., New York.
See text Jan 2 1937
Mt Hood Ry & Pow 1st mtge 1907
5 g J-J
$6,000.000 g($1,000)s f en tf Union Trust Co., San Francisco, Trustee.
712,000 Feb 1 l939
Wiliam Vail So Ry 1st M ntf 1914 (i g F-A
83.000.000 ($100, $500 &:-.) Int. at Cont. & Corn. Tr. & S. Bk., Chic.
$1,000 gu ol&st c*ntf) 'Trust., or in Port. or let Nat. Bk., N. Y
-The stockholders on May 14 1915 approved the plan by whin
Stock.
they surrendered 20% of their holdings in the then existing stock (325,000.000. 75% Paid), paying at the same time 525 in cash for each share so
surrendered, and received therefor pref. stock, share for share. one -hair
PORTSMOUTH, OHIO.
($2,500.00)) 6% cum. 1st pref. and the other half 6% non-cum. 2d pref
The $5.000.000 stock surrendered in connection with the plan was can
PORTSMOUTH STREET RAILROAD & LIGHT CO.
celed. Stockholders of record Feb. 1 1917 were given an opportunity to
ORUANIZA.TION.-Commenced operations in 1891. Leases Ohio
convert a further 55.000.000 common into 1st and 2d pref. stock on the "alley Traction Co.
same terms, which was accordingly done. The 1st pref. stock issued In
Does the electric light and power business in Portsmouth and New Boston.
1915 is cumulative from Jan. 1 1916; that Issued in 1917 is cumulative from
°eluding the city lighting. The street railroad servos Portsmouth, New
Apr. 1 1917 and will receive no dive. until all accumulations on the fIrst 3coston and Sclotoville, Owns an amusement park. Franchises extend
shall have been paid; thereafter all 1st pref, stock will be treated leyond 1935.
$2,500.000
alike. V. 104. p. 1116. (See also V. 91 p. 1325: V 95, n. 1274.1 Corn
In Dec. 1914 issued $500,000 bonds to extend the railway lines from
is listed on the Columbus and Louisville stock exchanges. Prof. stocks
are pref. as to divs. and assets and red. at par. Prior pref., Ser. "A," Portsmouth, 0., to Ironton, 0., 22 miles, for knots., &c.. and for the mien:union of the $50.000 bands called for oval int .Tan. 1 1915 at 102. The
red. at 105.
ixtension to Ironton 0.,is being built by a subsidiary, the Ohio Valley Trac-Of the remaining Portland Ry., Lt. & Power 1st & ref. M. Sc don Co., all of whose securities will be plei4e11 as part security for the new
Bonds.
/
4
unissued, $17,813,000 are reserved for prior liens and $33,376 000 are for bond Issue, and whose property will be open under lease extending to 1950.
additions, improvements, &c. Denominations: Coupon bonds. $1.000.
STOCK AND BONDSInterest. Oatstandino. Maturity
Date.
$250,000
$500 and $100: registered bonds, 51.000, 55.000. $10.000 and $50,- itock common $530,000_
000. Principal and interest also payable in sterling, francs or guilders at Preferred $250,000 ((3% cam) - ----------- -250,000
250,000
fixed rates of exchange. Callable as a whole at 105 and int. on or after nrst mtge bonds $500.0001 1914
See text
6 g J-J
353.000
on 60 days' notice. Cumulative sinking fund - 1% annually
Feb. 1 1922
(Si 000&$500)red102 _eel Int. at Guaranty Tr. Co., N. Y., Trustee
1915 to 1926 inci.•, 14% 1927 to 1941, incl on total amount issued. Bonds
Bonds.-Are due serially $25,000 each July [from 1918 to 1934, both incl..
in sink, fund to be kept alive and int. added to fund. Convertible at any 'tad $75.000 July 1 1935. V. 99. p. 1743.
time at holders' option into capital stock at a price equal to the amount
EARNINGS.
-For cal. year 1921, gross, $578.419; net, $152,307; other
paid loon such stock, plus $10 premium nor $100 share. See V 91. p. 631
ncome, 53,911: int., taxes, &e., $122,821; bal.. surp., $33,425.
Bonds arc listed on N. ar. Stock Exchange: $8.135,000 are pledged under
ROAD.-Owns and operates 32.8 miles of track. incl. 2q miles leased.
1st lien & ref. mtge. and $2,720,300 are look' in sinking fund. Additional 29 cars. 70-1h. T rail.
1st lien & ref. mtge. bonds may be issued in different series under certain
-P., R. D. York; Sec. and Treas.,
OFFICERS.-Pres., L. D. York: V.
restrictions. Denom.: $500 & $1,000 c*: $1,000, $5,000 and multiples of H II. Higgins.
-V. 100, p. 142: V. 103. p. 1793; V. 110. p. 2658; V. 112.
$5.000 r*. Are secured by pledge of $8,135,000 1st & ref. mtge. 5s. A D. 653.
sinking fund requiring cash payments of at least $225.000 semi-ann. began
Sept. 1 1921. Ser."A" bonds arc re;.1., all or in part on any int. date on
POTTSVILLE, PA,
30 days' notice after May 1 1931 at 105 and int. to May 1 1941; thereafter
at 103 and int. Series 'B" are red, all or in part on any int. date on
EASTERN PENNSYLVANIA RYS. CO.
30 days' notice at 105 & int. to and incl. May 1 1942 and at 1023-i thereafter
-Incorporated in Pennsylvania In 1891 as the TamaORGANIZATION.
but prior to maturity. Penna. 4-mill tax refunded. V. 112, p. 2084;
oua & Lansford Street Ry., and name changed in 1906. Controls the
V. 115, p. 1429.
'ollowing properties in Schuylkill County and vicinity and the lower anPortland Ry., Lt. & Power serial notes are due serially $500,000 annually -hracite coal field.
Are secured by a pledge of 51,000,000
from Dec 1 1920 to Dec. 1 1922
The Port Carbon&Middleport ELRy
Union Traction Co.
gen. M. 6s dated Sept. 2 1918. $1,000,000 held in treasury. Red, as a Pottsville & Reading Railway Co.
Pottsville & St. Clair Elec. Ry. Co
-year Pottsville
whole on any interest date at par and int. on 60 days' notice The 5
& Pottsville Electric RR.
call, as a whole but not in part on any int, date ichuyl.Hav &Orwigsburg St.Ry.Co. Tamaqua
notes due Mar 1 1926 are
Eastern Penna. Lt.. Ht. & Pow. Co.
Schuylkill Electric Railway Co.
as follows: March 1 1923, 102; Sept. 1 1923 or March 11924, 1014; Sept. 1 Coal Castle Electric Railway Co.
The Tumbling Run Park Association
1924 or March 1 1925, 101; Sept. 11925, 1004. V. 112, p. 1399. Red.
Most of those companies are without bonded debt, but where bonds have
only as a whole on any int, date at par and int. on (10 days' notice.
they have been provided for or deposited under the consolidated
The Portland Ky. let & ref. M. has been closed at $8.523.00) A etakiag been issued new mortgage, together with all, or practically all. their stocks.
amount was $25,003 per ann. (payable Nov. 1) lompany's1437. Franchises are practically perpetual
fund began in 1907; the
V. 82, p.
from 1907 to 1909 incl.; $40,000 per ann. from 1910 to 191(1 incl.. and $60,& St. Clair Electric Ely- incorp. in Oct. 1915 with $13,200
The
000 per ann.from 1920 to maturity of bonds; these payments are based on an iapitalPottsville organized in the interest of the company to construct the
stock.wasi
original amount outstanding of $5,982,000 [but see V. 113, p. 533] increasline from Pottsville to St. Clair (placed in operation Aug. 111916). It has
ing proportionately as additional bonds were issued; said funds to be inM.67 gold bonds dated
vested in the bonds at not more than 105 and int., at which price bonds outstanding $160,500 (auth. amount $350.000) let J. & D. at fiscal agent.
1946; int. payable
tone 1 1916 and due June
can be called for the purpose. Bonds are to be kept alive and bear interest. Pottsville, Pa.: subj. to call1at par and int. Trustee, Real Estate Trust
Red. at 105 and int. on any int, date upon 60 days notice.. $1,331 000
are in sinking fund. See V. 81, P. 1437. The bonds are listed on the New 0o., Philadelphia.
-In April 1918 announced an increase in fares to 7 cents
Fare Increases.
York, Louisville and Phila, stock exchanges. V. 82, 801: V 53, a 1171.
from
The authorized amount of Portland General Electric Co. mortgoge was The Schuylkill Electric Ry. announced an increase in the zone rate
2561. Effective Nov. 7
originally for $10,000,000, but mortgage has been closed at $8.000,090 7 to 8 cents, effective July 10 1918. V. 106, p.zone. This increase was
1919 the company increased fares to 10 cents nor
$562.000 retired by sinking fund. Bonds are subject to call as a whole at
Service
1074 and interest on 4 weeks' notice. A sinking fund of 1% per annum upheld by the Pennsylvania Publictokens Commission. In July 1921 fares
for $1. V. 113, p. 416.
8 1-3 cents,
of bonds out commenced May 1 1915. Bankers Trust (Jo.. New York, were lowered iothe followingor 12
committee was formed to protect the Interests
In Oct. 1919
trustee. They are listed on the Now York Stock Exchange V 92. p 1137.
1920 over 80%
$5.000,000 of Mt. Hood Ry. & Power bonds are deposited as col'atera1 of holders of the company's let mtge. 5s. As of July 15 See refinancing
under Portland Ry., Light & Powor notes. Sinking fund began Jan 1912. of these bonds had been deposited with the conunittee.
plan below.
1% to Jan. 1916 inci.• 1.% 1917 to 1921; 1. 4% 1922 to 1929
.4
-Chairman, Edwin G. Merrill: Herbert
Committee for 1st Mtge. 55.
1927 to 1931; 2% 1932 to 1938.
Willamette Valley Southern 1st M. bonds are uncon iltionally guaranteed Coppell, A. A. Jackson. Lewis A. Riley, Thomas Newhall, A. Merritt TayCongress St., Boston.
(as to principal, interest an 1 sinking fund) by Portlani Ry., Light & Power lor, John Gribbell; Secretary. Robt. N. Smither, 35N. Y. City, and the
Mass. Depositaries: Central Union Trust Co.,
0o. Remaining $2,259.900 tssuable only under certain restrictions. Sink
Girard Trust Co.. Phila., Pa. V. 109, p. 1366, 2356; V. 111, p. 791.
iny fund of 1% of bonds outstanding 1917 to 1923: 14% 1924 to 1931
Interest.-Coupons due on the company's let mtge. 5s were at last acand 2% 1932 to 1938. $38,000 retired by sinking fund. Company agrees counts being paid when due.
to refund 1% of income tax. Redeemable at 103 and int. on any int. date
-In October 1921 the
Stockholders' Committee-Refinancing, &c.
on 60 days' notice. V. 98. p. 1001; V. 100. p. 57.
following committee was formed to represent the holders of pref. and corn
-On prior prof. an Initial qtutr. dly. was paid in July 1922. stork in an effort to effect a financial reorganization of the co. (V. 113. p.
Dividends.
% paid. An initial div. of 7%% on the 1st pref. stock 1772): A. B. Bierck Clarence M. Clark. H. H. Dean, Samuel D. Warriner.
In Oct. 1922
was paid in July 1921, covering accumulated divs. on that issue from .T. 0. White; See.. Ti. C. Hopson, 61 B'way. Cittr. Depositary. Commer.
Phil delphia, Pa.
Jan. 1 1916 to April 1 1917. V. 112, p. 2643. On Oct. 1 1921, a costs dal Trust nocommittee announced V. 113 p. 1772. a plan of refinancing,
the adoption of
The above
div. on 2% was paid on the 1st pref. together with a stock div. of 23%
in Penna. of a new
provides for
(payable in 1st prof. stock) oil account of accumulated divs. In 1922, dated June 6 1922, whichPenn Electricthe organiz ition construct and own
Co.. which will
co. to be known as East
Alit', 1A %; Oct., 14%. No divs, have been paid on the 2d pref. stock, a 25,000 k.w. generating station and either through a power contract or
which, however, is non-cumulative. On old corn. guar. div. of 1% paid through a lease of the new power house will supply all or a major part of
from Sept. 1909 to Jan. 1910, incl. Initial div.-31 on now stock as ad- the power generated to the Eastern Pennsylvania Mrs. and its subsidiaries.
)
justed per plan V. 91, p. 1328, was paid M tr. 1 1911: sant. amount fluor. The new co. is to acquire in exchange fir its 2d prof. and corn. stock all or
4. In 1913, Mar., June and Sept.,
to and incl. Sept. 1912; Doc. 1912, $1. 1
outstanding pref. and com. stocks of the Eastern Pennsylvania
$1 1 each. In Dec. rate was reducel and $1 was paid (see V. 97. p. 1824). most of the terms of exchange see V. 114, p. 2717). The stocks so acquired
4
Rys. (For
In 1914. March, $1; June, $1. None since.




120

[VoL. 115.

ELECTRIC RAILWAYS

are to be pledged under the new co.'s 1st mtge. bonds, of which it is proposed
to issue $2,500,000. Proceeds of these bonds, together with proceeds a
the sale of 12,000 shares 1st pref. stock and approximately 22,000 shares
corn. stack of the new co. will be used to pay cost of erection of new power
plant. For full details of plan and description of new securities to be issued
thereunder see V. 114. p. 2717. In June 1922 over 84% of the pref. and
88% of the com,stock of the Eastern Pennsylvania Rys. had been deposited
under the plan.
STOOK AND BONDSDate.
Interest. Outstanding. Maturitg
Common,$5.000.000 ($100)
$4.000,000
946.820 See text
Pref. $1,000.000 ($100) 5%c_ ____
First mortgage, $6.000.000. g 1906
5 J-J
4,446.500 July 1 193e
Central rust Co.. New York, Trustee.
($500 and $1.000)____c tf
Pottsville Union Trac. 1st M. 1899 6 g M-S
40,000
gold $1.250,000
Int. at Real Estate Trust Co., Phila.. True.
Pottsv. & Read. first mtge, g 1895 6 g F-A
99.000 Feb. 1 1927
c* Int. at Real Estate Tr. Co., Phila., Trustee
$100.000 ($1,000)
Schuyl El Ry 1st M $500,000, 1895 6 g F-A
295,000 Feb. 1 1928
($500 and $1,000) gold.c*tf Int. at Real Estate Tr. Co., Phila., Trustee
Bonds.
-Sufficient 1st M. bonds of 1906 are reserved to retire $434.000
prior liens; the unissued portion is reserved for future extensions and Im
provements; $333,500 have been canceled. Registered bonds are re-con.
vertible into coupon bonds. Are subject to call at 110 and int. on 4 weeks'
notice. Int. payable in N. Y. See description of bonds and property
V. 89, p. 103; V. 94. p. 279.
Dividends.-Divs., 254 %.on pref. Mch. 1907; none since.
EARNINGS.
-For years ending Dec.31:
Year end.
Gross
Expenses
Net
Deductions. Balance.
Dec. 31.
Earns.
& Taxes.
Earns.
(All Cos.)
Surplus
$
9,299,129 $1,631,807
1921
$667,322 $274,256
$393,065
1920
1,940,020
1.505,789
434,231
267,350
166.881
1919
1,644,562
1.218,518
426,044
269,111
156,933
ROAD.
-Operates 71.668 miles of track connecting Pottsville with Yorkville, Minersville, Palo Alto, Belmont, Cumbola, Mount Carbon, Port
Carbon, Saint Clair, New Philadelphia, Middleport, Schuylkill Haven
Adamsdale, Orwigsburg, Coal Castle, Glen Carbon, Tumbling Run, Brock
ton, Tuscarora, Tamaqua. Lansford, Summit Hill, Nesquehoning and
Mauch Chunk.

PUEBLO, COL.

SOUTHERN COLORADO POWER CO.
Standard Gas & Electric Co. owns $405,000 1st pref. and $840,000 2d
pref., 35,000 shares of the common and $3,000,000 2d Mtge. 6s.
ORGANIZATION.-Incorp. in Colorado on Nov. 14 1911 as the Arkansas Valley Ry., Lt. & Pow. Co., but name was changed to present title
in May 1922. V. 114, p. 2117.
Owns and operates the street railway system in Pueblo and also has large
electric lighting and power business in Pueblo, Canyon City ,Cripple Creek,
La Junta and other adjacent towns. Railway franchises expire in 1940 in
Pueblo and in 1953 in Pueblo County, and electric light franchises in 1936.
Fares.
-In Jan. 1919 the company, watch bad previousiy applied for a
5-cent fare, filed an amended application with the Col. P. U. Comm.
asking authority to increase faros from 5 to 7 cents. V. 108. p. 76. In
Sept. 1919 the Pueblo City Council passed an ordinance, effective Nov. 11
1919.granting the company anthority to charge a it eent fare V.100 n.19gs
In 1922 brought out $6,000,000 1st Mtge. 6s, Ser."A," and $3,000,000
2d mtge. 65, proceeds being used to retire (a) $1,597,000 Pueblo & Suburban
Trac. & Ltg. Co. 55, due Oct. 1 1922; (b) $800,000 Arkansas Valley Ry.,
Lt. & Pow. Co. bond-secured 8% notes, due Oct. 1 1922; (c) $4,475,300
Arkansas Valley By., Lt. & Pow. Co. 1st & ref. mtge. bonds (called for
pay't Nov. 1 1922 at 105 and int.-V. 115, p. 16331 and ooer (d) $1,000,000
floating debt for permanent add'ns and impts. previously made. V.
115, p. 354.
eT00K ANT)T1ONT)8- Date, Interest. Outstanding.
Maturity
Common 60,000 shs, no par_
35,000 shs.
1st Pref(SOH))7% cum
__
2,103.000 June '22.13i
Q-M 15
3(1 pref stock
to 000 June 22.2%
iobb-Y&8%
1stmtgeser A" ig:bic,
Ol
6,000,000 July 11947
i
6gJ-J
($100,$300&$1.000)gc*tfCont'l Com'l Tr. & S. Bk., Chic., trustee.
2d mtge $15,000,000
1947
1922
6%
3,000,000
Bonds.
-The 1st mtge. 6s, Ser."A." are red, all or part on 30 days' notice on or before July 1 1933, at 10754, and thereafter at 54 of 1% less for
each succeeding year, plus int. Mtge. provides semi-ann. sinking fund
commencing July 1 1925 equal to a 2% per annum basis on the total Ser.
"A" bonds outstanding at respective dates of payment, including any
underlying bonds then outstanding, which sinking fund will be credited
with any similar payments required to be made on such underlying bonds.
Int. payable in N. Y. and Chicago. Penna. 4-mill tax refunded. V. 115.
p. 554.
Dividends.
-On first pref., 14% quar.
'from June 1912 to June 1922.
OFFICERS.-Pres.,J. H. Pardee; V.
-Ps., R. Walter Leigh,J. I. Mange
On 2d prof., 2% quar. from June 1921 to Juno 1922.
and Joseph K. Choate; Sec. & Treas., T. W.Moffat, all of N. Y.; Asst. Sec
& Asst. Treas., L. A. Reinhardt; Asst. Treas., H. B Brown; Asst. Sec
EARNINGS.
-For years ending Dec. 31:
C. A. Dougherty; Gen Mar., 0. A. Hall, Pottsville. Pa; Gen Mere
Calendar
Net. after Int. Charges, Pref. Dia- Balance.
Gross
J. G. White Mgt. Corp., N. Y.
-V. 110, p. 969; V. 111, p. 791, 1852;
Taxes.
&c. (Net).
&mix.
Surplus.
YearEarns.
V. 112, p. 1617; V. 113, p. 416, 1772; V. 114, P. 1407, 2579, 2717.
$599.085
$375.005
$183,683
$40,397
1921
$1,755,526
369,439
124,950
114,243
608,632
1920
1.865.743
miles of track, all in city of Pueblo. Gauge, 4 ft.
ROAD.
-Owns 32
55. 72 and 75-lb. rail. 50 cars, of which 42 are motors. Has a hydroPOUGHKEEPSIE, N. Y.
electric power plant at Skaguay. on Beaver ()reek. near Victor; steam-elecPOUGHKEEPSIE & WAPPINGERS FALLS RY.
tric power houses in Canon Olty and Pueblo. and reserve stations at La
ORGANIZATION.
-Chartered March 22 1894 as the Poughkeepsie Junta and Rocky Ford; installed capacity 33,100 h. p. Has 344 miles of
City & Wappingers Fells Electric Ry. Name changed to above June 1917
cramsmission and 366 miles distributing pole lines
The P.8. Comm. has auth. the co. to make a new mtge. to the Equitable
-P. &
-P., Otto E. Osthoff; V.
OFFIOERS.-Pres., Arthur S. Huey; V.
Trust Co. of N. Y. securing an issue of $2,000.000 6% 1st M. sink, fund Gen. Mgr . W.F. Raber; Treas., R.J. Graf; Sec.. Herbert List; Gen. Mgrs.,
gold bonds, and to issue $506.000 thereof to take up the existing bonds
Byllesby Eng. & Mgt. Corp., Chicago, 111.V. 115, p. 554, 1633.
Since that time the co. has been auth. to issue $130,000 more of these bonth
which are now held in treasury.
RALEIGH, N. C.
Fare Increase.
-In June 1918 was authorized by the New York P. S
Comm. to charge a 6 cent fare, with the understanding, however, that no
CAROLINA POWER & LIGHT CO.
dividends are to be paid until the road and equipment are brought to a
Electric Bond & Share Co. acts as fiscal agents for the company.
state of efficiency. V. 106, p. 2758. In Mar. 1921 a further advance to
8 cents was auth. The co. had applied for a 10
-cent fare. V. 112. p. 1399
ORGANIZATION.&C.-Incorp. In North Carolina Feb. 19 1908. Sue
In July 1921 the co. was granted a writ of certiorari ordering a review °armor to the Raleigh Street Rv.(chartered 1881,road opened 1886), Raleigh
of the evidence upon which the 8
-cent fare was auth. The co. is seeking a Electric Co., Central Carolina Power Co. and Consumers' Light & Power
-cent faro. V. 113. p. 418.
10
00. On Nov. 1 1910 acquired Durham Light & Power Co., on May 1 1911
the Henderson Ltg. & Pow. Co., and on Aug. 1 1911 the Standard Gas &
STOCK AND BONDS- Date. Interest. Outstanding.
Maturity
Electric Co., which companies, together with others subsequently acquired.
Stock,$1,000.000 (par $100)-$750 000
have been merged into the Carolina Power & Light Co. Also owns the
1st M $2,000,000 ($100. $5001 1918 6 g J-J1
583.000 Jan 1 1958 entire common stock, except directors' shares, of the Yadkin River Power
& $1,000) g
c n tfI Int at Equitable Trust Co.. N.Y..Trustee Co. (which controls the Palmetto Power & Light Co.) and the Asheville
Bonds.
-The unissued bonds are reserved for extensions, improvements. Power & Light Co. (acquired in March 1912).
acquisitions. &c. at not exceeding 80% of cost thereof under certain reOperates entire street railway, gas and electric light and power service in
strictions. Sinking fund of 1% each year on Jan. 1. Call. at 105 and int. Raleigh, gas service in Durham, light and power service in Henderson.
Oxford, Sanford, Jonesboro and Goldsboro. and supplies, directly or inon any int. day upon 6 weeks notice.
ROAD.
-Owns 15.15 miles of road, leases 1.5; second track, 1.76 miles; directly, electric light and power service in 16 other communities.
Franchises.
-Gas lighting franchise in Raleigh is perpetual. The electric
sidings, 1.07 miles: total, 19.48 miles of track. 40 cars.
light and power and railway franchises extend to 1945. The Durham gas
EARNINGS.
-For years ending Dec. 31:
franchises extend to 1950. In Henderson, Oxford, Sanford and Jonesboro
PeriodGross. Net, Aft. taxes. Int., &c.
Balance. the franchises extend to 1971. 1971, 1942 and 2003. respectively; in GoldsCalendar year 1921
$276,418
$44,292
$52.976
def. $8,654 boro, Smithfield and Pine Level to 1972, and in Fayetteville franchise is
Calendar year 1920
263,423
12,514
42,516
def. 30,002 perpetual.
Calendar year 1919
231.617
37,755
42,868
def. 5.113
On March 31 1911 increased authorized common stock from $2,500,000
-P., Miss Mary Hinkley, to $5,000,000, and authorized preferred from $1.250.000 to $2,500,000.
OFFICERS.-Pres., Mrs. Mary M.Hinkley; V.
Sec.& Treas., T. W. Moffat; Asst. Sec. & Asst. Treas. H. B. Brown; Mgr.; On Mar. 6 1920, the stockholders voted to increase the auth. amount of
O. A. Brooks; Aud., J. A. Nilan. Under management of J. G. White Mgt. preferred stock to $3,500.000.
'
In Feb. 1919 an issue of $3,000,000 Carolina Power & Light Co., Yadkin
Corp.
-V. 109, p. 477; V. 111, p. 1370; V. 112, p. 1399; V. 113, P. 418.
River Power Co. and Palmetto Power & Light Co. let & Joint M.69 was
brought out, the proceeds of which were used for the construction of highvoltage transmission lines, sub-stations, &c. V. 108, p. 783, 877.
Fares.
-Effective Jan. 11922, the N. O. Corp. Comm. auth. the co. to
PROVIDENCE, R. I.
raise cash fares in Raleigh from 7 cents to 8 cents, with 2 tickets for 15
UNITED ELECTRIC RAILWAYS CO.
cents. V. 113, p. 2404.
-Chartered in Rhode Island in April 1919. In
ORGANIZATION.
STOCK AND BONDS- Date.
Interest. Outstanding.
Maturity •
June 1921 acquired the property of the Union Railroad Co., Providence Stock corn $5.000.000 ($1OO)
$4.787.500 Nov '22. 54
Cable Tramway Co., Rhode Island Suburban Ry.and Pawtucket Street Ry. Pref 33.500.000 7% cum ($100 _-c
2.211.800 Oct '22, 11(
Q-J
formerly controlled through stock ownership by United Traction & Elec. Co. Plirst mortgage gold 35.000,- 1H8 5g P-A
4 044.000 Aug 1 193S
and in Aug. 1921 purchased the Woonsocket lines of the Rhode Island Co.,
000($500 & Si.000) c*.tf Guaranty Tr,Co.. N.Y.. true. Int. in N.Y.
as per plan outlined in V. 112. p. 564. See also V. 113, p. 961. In Oct. let & Joint M 33,000,000 1919 6 g J-J
3,000,001) Jan 1 1924
1921 acquired the property of the Providence & Danielson Ry. Co. Com($500 & $1,000) gold____c* Bankers' Trust Co., N. Y.. trustee.
pare V. 113. p. 1773.
Stock.
-Of the amount of preferred stock outstanding. $2.182.300 Is
Jitney Decision.
--For ruling against jitneys, see V. 115, p. 310.
in the hands of the public.
Interest, Outstanding. Maturity.
Bonds.
-Of the $4,044,000 1st mtge. 5% bonds reported outstanding,
STOOK AND BONDSDate.
Capital stock
$8.284.800 Oct'22,1 % $3,480,500 are in hands of public, $500,000 are for exchange, bond for bond,
*12,000 April 1 1946 for bands of other cos., under certain restrictians, and remainder for impts.,
Prior nen mtg $5,000.000 Ser A 1921
7%
exten's, &c., at 80% oecost ofsame when net earns. for 12 mos. are twice int.
Ser B ($100. $200, $500 and
$1,000)
1921
1,999,200 Jan 1 1946 on bonds out and to be issued. Red. as a whole or in part for sinking fund
4%
Gen & ref mtgs $11,100,000
on any int. date upon 3 weeks' notice at 105 & int. Sinking fund 1%panSear A ($1OO, $200, $500 and
nually of bonds out from Aug. 1 1913 to Aug. 11922, Incl.; thereafter 1 %.
$1,000)
1921
5%
8,540,000 Jan 1 1951 $267,000 have been retired through operation of sinking fund. See V. 90,
Ser ($100, $200, $500 and
p. 1361. The let & Joint M.(Ss are secured by a 1st M. on the property
1921
4%
2.499,000 Jan 1 1951 of the Palmetto Power & Light Co. and by a direct lien on all the property
$1,000)
*$1,000,000 authorized.
of the Yadkin River Power Co. and the Carolina Power & Light Co.subject
Bonds.
-The $2.000,800 remaining prior lien bonds bearing not over to their 1st M bonds. Red. all or in part any time on 4 weeks' notice at
7% interest may be issued from time to time for 70% of cost of extensions, since 1920. 100 and interest. V. 108. p. 783. 877.
Dividends.
-On pref.. 134% quar. from July 1 1909 to Dec. 31 1910, incl.
additions, improvements, &c., under certain restrictions.
In April 1911 and quar. since. 15i%. Initial city. on com.-54 of 1%EARNINGS.
-Of Rhode Island Co. for years ending Dec. 31:
paid Feb. 1917; same rate quarterly to and incl. Nov. 1922.
Year ending
Operating Net (after
Other
Interest,
Balance,
EARNINGS.
-For 12 mos. ending Aug. 31:
Dec. 31Revenue.
Taxes).
Income Rentals, &c. Deficit.
Other
Bond
Gross
Net (after
Other
Balance.
$8,304,147 $601,454 $36,012 $1,415,580
1920
$778,114
Year- Earnings.
Income. Interest. Int.. &c. Surplus.
Taxes.)
1919
6.970,675
430.527
37,853
1,491,760
1,033.380 1921-22 __$1,837,314 $473,475 $218,099 $173,998 $41,460 $476,116
Statement of earnings covering period from July 9 1921 to Dec. 31 1921. 1920-21 __
464,234
181,521
174,040
37,900
433,805
1,661,085
will be found in V. 114, p. 1535.
3,313,462 passengers carried in 1921, against 3.204,939 in 1920.
PROPERTY. &C.
-Operates over 420.527 miles of track.
ROAD.
-Owns 14 miles of road; gauge, 4 ft. 854 in. 60-70-lb. T-rails.
OFFICERS.-Pres.. Albert E. Potter; V.
-P., Clifford Whipple; Treas., 10 open motor cars, 11 open trailers, 13 closed motor cars and 1 miscell..
Geo. H. Newhall; Rec., Harvey A. Baker; Comp., Herbert B. Ethanol.
- 5 power stations and 9 sub-stations; 264 miles transmission lines.
V.1113, p. 1575, 1773; V. 114, p. 1535, 2719; V. 115, p. 310, 1633.
OFFICE RS.-Pres Chas E Johnson, Raleigh; V -P & Gen. Mgr.,
,
•
P. A. Tillery; V.
-Ps., Wm. Darbee,E W. Hill and R. if. Smith; Rec., B.P.
Summerson, N. Y.; Treas., A., O. Ray; Asst. Sec., H. L. Martin; Asst.
-A trolley road.
Treas., G. J. Hickman.
-V. 107, p.500; V.108, p. 783, 877; V. 111, p. 192;
PROVIDENCE & DANIELSON RAILWAY CO.
Was leased to the Rhode Island Co. for 999 years from June 30 1911 but V. 112, p.561; V. 113, p. 1469, 2404.
lease was surrendered and the property turned back to its owners on Sept.
(1) Asheville Power & Light Co.
7 1920. V. 110. p. 2568.
ORO ANIZATION.-Incorp. on March 25 1912 In North Carolina as
Sale to United Electric Railways.
-We are officially informed that by deed successor to the Asheville Electric Co. All the common stock, except
dated Oct. 27 1921 all the railway and other physical property then owned iirectors shares, is owned by Carolina Power & Light Co. Does entire
by the co., together with all franchises granted to the co. by the Rhode Iommercial and municipal electric light, gas and street railway business
Island General Assembly, were conveyed to the United Elec. Rys. Co. If Asheville and its suburbs. All franchises, except for l5( miles of street
the consideration being in securities of the United Elec. Rys. Co. When milway expiring in 1952, are perpetual.
Has favorable contract to April 1 1928 with the North Carolina Electrical
these are disposed of and the proceeds paid to the stockholders the affairs'
Power Co. for power.
of the co. will be liquidated and wound up. Compare V. 113, p. 1773.




OCT., 1922.]

ELECTRIC RAILWAYS

121

1416.
North Uarotina see this Supplement of April 24 1920) as per plan outlined in V. 110. p. 3,940
Fare Increase.-Effective Oct. 1 1919, was auth. by the
Owns all the common stock of the City & Suburban Gas Co.; also
109. p. 1365
Corp. Comm. to increase fares for adults from 5 to 6 cents. V.
shares out of 4,440 shares of the City Railway Co.
Maturity.
Interest. Outstanding
Maturity
Interest. Outstanding.
STOCK AND BONDS- Date.
Date.
STOCK AND BONDS$1.000.000
Common $1.000,000 ($100)All owned by West Virginia Utilities Co.
639.700 Oct '22. 1'4 Common $500.000
Min
540.000 Nov. 1 1932
6 g M-N
Pref $1,000,0004100)7%(
1912
1 1942 City & Suburban Gas 1sMl
1,220,000
5 g A-0
First mortgage $5,000,000 gf 1912 U.S. Mtge.& Tr. Co.. N.Apr trustee
$1,000,000 ($1,000).-c*tf'Int. at Equitable Trust Co., N. Y., trustee.
Y.,
c•.tflInt at
1,119,000 July 1 1936
($1,000)
5 g I-J
City & Elm Grove cons coil) 1906
stock, except directors' shares, Is held by the
tr M $2,500,000 g ($1,0001f Int. at Union Trust Co., Pittsburgh, trustee.
-All the common
Stock.
Of the Wheeling & Elm Grove first) 1898
135.500 Mar 1 1928
5 M-S
Carolina Power & Light Co.. and divs., therefore, are not reported.
mortgage $225,000 ($500)_ f.Sinkrng fund retires $5,000 annually.
amount of pref. stock outstanding. $539,700 is in the hands of public.
794,500 April 1 1931
5 A-0
1901
-Remaining bonds are issuable at 80% of cost of permanent im- Wheeling & Elm Grove M (see)Int. pay. at Dollar gays,. Ar Tr. Co., Trustee.
Bonds.
twice interest
text) ($1.000 & $100)g__c*f
provements or additions when net earnings are whole or in partcharges on
for sinking
-The City & Suburban Gas Co. bonds are redeemable, as a whole
Bonds.
Subject to call AS a
bonds out and to be issued
at 105 and int.; eurmilative slaking fund of
at 105 & int. on any int day. Sinking fund, 3i% on April 1 1917 at part, on any interest date
fund
2% on outstanding bonds began in 1916: $60.000 not included in amount
to 1927; 134% 1928 to 1932: 2% 1933 to 1941
to 1922. Incl.; 1% 1923
sinking fund. Of the City & Elm Grove consolioutstanding, are held in
See V. 94. p. 1316.
dated collateral trust bonds, $1,000.000 are reserved to retire prior liens.
Dividends.-lsi% guar. has been paid on pref. stock since April 1912.
Are subject to call on any int. date at 105 and int. V. 83, p. 491. The
-For 12 mos. ending Aug. 31:
EARNINGS.
auth. amount of Wheeling & Elm Grove Ry. mtge. was originally $1,250,000
Balance
Gross, Incl. Net, after Total Interest
bat was reduced in Feb. 1906 to $1.000.000
Surplus
Charges.
Taxes.
Other Income.
Year-For 12 mos. end. Aug. 31 1922, oper. rev., $571,454: net,
Earnings.
$281,352
$62,549
$343,901
$907.724
$1,571; deductions,$105,669;
1921-22
269,600 after taxes, rents, &c.,$148,221;other income,
62,165
331,765
880,167
1920-21
balance. $44.123.
6.806,108 passengers carried in 1921, against 6,812,191 in 1920.
-V. 111, p.
-See West Virginia Utilities Co. above.
&c.
PROPERTY,
-Operates 20 miles of railway.
ROAD.
853; V. 115, p. 1322.
-P. & Gen. Mgr., H. W
1
E. Johnson; V.
OFFICERS.-Pres., Chas.
-V. 95, p. 110
CLAREMONT RAILWAY & 1.1wITINO CO.
Plummer; Sec.. E P. Summerson: Treas.. A. C. Ray.
This co was formerly controlled by the Eastern Power & Light Corp.
V. 106, p. 818; V. 109. p. 1365: V. 111, p. 989; V. 113, p. 70.
but was sold in Nov. 1918 to a group of local manufacturers since which
time we have been unable to obtain information as to the co.'s affairs. For
(2) Yadkin River Power Co.
publication of Nov. 15 1919.
Is controlled by Carolina Power & Light Co. through ownership 'of all latest statement see this
common stock except directors' shares.
READING TRANSIT & LIGHT CO.
a'
ORGANIZATION/.-Incorp. on March 20 1911 in North Carolina
All the common stock and $550,000 Class"B" pref. owned by The General
successor to the Rockingham Power Co., sold at foreclosure. V. 93. p. 173
River, lighting and Gas & Electric Co.
Owns and operates hydro-electric plant on the Yadkin N.C.,and Cheraw
ORGANIZATION.--Incorp. July 1917 as a merger of the old Reading
power systems in Rockingham. Hamlet and Wadesboro,
Fransit & Light Co. (which then ceased to exist) with the United Traction
S. C. and electric power systems in Lumberton and Lilesville, N C.; aim
St.
requirements of the privately-owned Co. (Reading), Boyertown & Pottstown thy.. Birdsboroof Ry., Reading
supplies, under contract, the entire
these properties
Womelsdorf Elect. Ry., and Front & Fifth St. Ry., all
light and power systems in Maxton. Laurel Hill and Laurinburg, N. C., and
Controls through stock ownership the
lighting systems of Lilesville and Lumberton. None of the aaving been operated under lease.
of the municipal
control of Carolina Oley Valley liar. and Neversink Mountain Ry. Leases the Lebanon St.
franchises expire prior to 1971. In July 1917 acquired
and the properties of the Reading Traction Co., AdamsGas & Electric Co. (now Palmetto Power & Light Co.), which supplies railway system
Harts- town & Mohnsville Electric Ry., Schuylkill Valley Traction Co., and
electric light and power to Florence, Darlington, Marion, Mullins,
Reading. & Southwestern Ry. Owns or controls and operates the street
ville, Timmonsville, Bishopville and McCall, S. C., and water in Darling- railway systems in and about Reading and Lebanon, and the system of
ton and Marion.
was increased from $4,000,000 to (treet and interurban railways extending from Reading through NorIn Dec. 1914 authorized capital stock
ristown to Philadelphia, serving a population of about 40).000.
$5.000,000 and in Feb. 1920 from $5,000.000 to $6,000,000.
Principal leases contain options to purchase, also satisfactory provisions
Interest. Outstanding. Maturity
Date.
STOCK AND BONDSfor refunding underlying obligations. Franchises are without time limit
$3.835 00()
Common $4,000,000 ($100)
snd unrestricted with unimportant exceptions.
1.035 300 Ocr,
Q-J
-On Jan, 10 1918 an Increase In street-car fares from 5 to
Pref$2 000.0004100)7% cum. ____
Fare Increase.
3.50(1,000 Apr 1 194)
5 g A-0
First mtge $15.000.000 gold) 1911
cents went into effect on all lines of the company in Reading, Norristown,
Colony Tr. Co.. Boston. trustee
(31.000 & $5 0001_c*&r.tf1Int. at Old Carolina Power & Light Co ahoy. Roxborough and Lebanon. On Sept. 16 1918 fares In Reading and Leb-See under
First& Joint Mortgage
anon were increased to 7 cents. See also V. 113, p. 2506. Fires on the
-Of the pref. reported outstanding, $1,034,600 is in hands of public. rem ander of the system have been increased to 8 cents. V. 107, p. 1005.
Stock.
are in
Bonas.-$142.000 not included In amount reported outstanding, have On Nov. 8 1920 fares in Reading and Lebanon were raised from 7 to 8 cents
&c. Bonds
zones from 8 to 9 cents. V. 111, p.
treasury: remaining bonds are re erved for extensions.
to and in Norristown and all suburban
inapt. fund of 34% of bonds out from Aug. 1 1916 to 1920, incl.. 1% 1921 as 2141. Compare V. 111, p. 1662, 1950.
call
1925, 1 34% 1926 to 1930, and 2% 1931 to 1940. Incl. Subject to
Interest. Outstanding. Maturity.
Date.
STOCK AND BONDSa whole on any int. date or in part for Improvement fund at 105 and int. Common, $3.000,000
$2,9(10.000
on 4 weeks' notice, all bonds thus acquired to be canceled.
131.450
Preferred Class "A" $700,000
1 1917.
Dividends on preferred stock were begun Jan.
1.511,500
Preferred Class ''I1'• $2.300.000
generating capacity of 24.000 k. w., all hydro-elec. ()en & Ref Mtge.1130.000.000- 1917
-Has
See text Aug 1 1947
PROPERTY.
5%
202 miles of transmission lines and 64 miles distributing lines.
Old Read T. de Lt. Co.See text
40.000
5 J-J
-For 12 months ending Aug. 31:
3ar trust certificates "A"f 1916
EARNINGS.
Bal-Sur
tInt. at Girard Trust Co., Phila., trustee.
Gross
Net (aftpr taxes). Int (Net).
$100,000 ($1,000)
Year
See text
30.000
$332.242 Car trust certificates "B"1 1917
5 M-N
$175,399
$507,641
51,190,329
1'a
192 1
263,223
180.346
443,569
(Int. at Pa.Co.for Ins.on Lives,&c..Phila..tr.
1,032,376
$50.000 ($500)
1920-21
United Traction Co.P. A. Tillery
OFFICERS.-Pres., Chas. E. Johnson;.V-P. At nen. Mgr..
245,000 July 1931
5 J-J 1
-V. 100, p. 2173; V. 103, 13• Oley Valley Ry stock trust! ____
E. P. Summerson; Treas., A. C. Ray.
certificates $250,000 _ _ _ _ _lInt.at Real Es.T.I.&Tr.00.•Phila..trustee,
2245; V. 106. p.818; v.108.13. 783. 877.
400,000 Jan 1 1925
5g
Read-Womelsd 1st M $4004 1895
c*.cpt_ lInt.at Real Es.T.Ins.& Tr.Co..Phila.. trustee
000 ($100 &c)
250,000 Jan
1934
5g
Birdsboro St Ry M.$250,000) 1904
READING, PENN.
& $1,000)_c_cpt f Int. at Colonial Tr. Co., Reading. Trustee.
gold ($500
300.000 Aug 1 1936
5 g F-A
Boyer & P St Ry 1st M.$300.- 1906
EASTERN POWER & LIGHT CORPORATION.
00 ($500 & $1,000)g.c•cpt Int. at Colonial Tr. Co., Reading l'a., Trust.
All the assets of this co. were disposed of on Oct. 24 1919, the subsidiary
50.000 July 1 1938
5g
St Ry 1st M $50,- 1903
cos., with the exception of the %Vest Virginia Trac. & Elec. Co. (now We,i Front&5th
000g ($100 & $500)_c•cpt. Int. at Colonial Tr. Co., Reading, Trustee.
by the General Gas & Electric Co
Virginia Utilities Co.), being acquired
250,000 July 1 1931
434 g J-J
Oley Valley Ry first mtge, 1901
For history of Eastern Power & Light Corp.see this "Section" for Apr. 24'20'
$250.000 g ($1.000) _c•cpt Int.at Real Est. Title Ins.N Tr Co..Phila.,Tr.
86.000 June 1 1931
4 J-D
Veversink Mountain bonds__
WEST VIRGINIA LITILITIF.S CO.
Int. at Colonial Tr. Co., Reading.Pa., Trust.
Leased Line Securities
Oftn A NIZA 010N.-Ineorporated in 1920 and acquired the Morgantown
, 75,000 Jan 1 1935
5g
properties of the West Virginia Traction & Electric Co. (for history set Adam & Mohn let mortgage) 1904
"Electric Railway" Supplement of April 24 1920) as per plan outlined in
$75,000, g ($1,000) r'scpt Int. at Colonial Tr. Co.. Reading, Trustee.
100.000 Aug 1 1931
5 F-A
V. 110, p. 1416. Owns all the $500,000 capital stock of the Wheeling R•rtd-S W let M. $100.000 1900
c•cpt I Int at I'enna. Tr. Co., Reading, Trustee.
Public Service Co. which took over the Wheeling-Elm Grove properties or
0500 & 51,000)
See separate statements for Reading Traction. Schuylkill Valley Tract..
the West Virginia Trac. & Elec. Co.
With its sub. co. owns arid operates the electric light, power and water and Lebanon Valley Street Ry. below.
Old Reading Transit & Light Co. car trust certifs., Series "A," mature
supply systems in Elm Grove and neighboring towns: an electric railway from
Wheeling through Elm Grove to West Alexander, Pa., connecting adjacent $10.000 annually to July 1 1926. subject to call on any int. date at 101 and
suburban towns; electric light, power, gas and water systems In Morgan- lot, on 30 days' notice. $60,000 have been retired. Secured by 25 cars,
town, W. Va. Serves 29 communities with railway and electric service. 26 title remaining with trustee until entire issue is paid. Reading Transit &
with water and 25 with natural gas. Owns a 33-acre park. Holds under Light Co. car trust certifs., Series "B," mature $5.000 annually to Nov. 15
lease over 7.000 acres of natural gas fields, about one-quarter developed, 1927; subject to call on any int. date at 101 and int. on 30 days' notice.
with extensive systems of gas wells and distribution equipment. Also has Secured by 9 cars.
-45,000 Oley Valley Ry. stock trust certfs. incl. In
United Traction Co.
1.600 acres of gas and oil lands under development. Franchises: One examt. outstanding are held in treasury. Birdsboro St. IV. bonds may be
pires 1927; others extend beyond 1942 or are perpetual.
p.&i.,
Interest. Outstanding. Maturity. called at 105. Front & Fifth St. bonds are red. at 105. They are guar., Co.)
Date.
AND BONDSSTOCK
T.
by endorsement by United Traction Co. (now Reading int.,& L.
5500.000
Common $1,000,000 ($100)_
by endorseare guaranteed, prin. &
rhe I3oyertown & Pottstown bonds
758.348
7%
Prof. $1.500.000 ($100) cum.__ ____
& L.('o.). Reading & Womels1,224.920 Jan 1 1935 ment by United Traction (now Reading
6%
15-yr. gen. mtge. bds. $5.000} 1920
dorf bonds are subject to call at par. Adamstown St Mohnsville bonds are
000 gold
778.000 July 1 1944 redeemable at 105
5g
Un. UHL 1st mtge $1,5004 1909
EA RN INGS.- For years ending Dec. 31:
c
000 gold ($1,000)- --•cot I Int. at Farmers' L.& Tr. Co., N. Y., trustee
Balance
Preferred
Fixed
Gross Earns. Net, after
Calendar
-No div. shall be paid on com.for 2 years from date of issuance
STOCKS.
Charges. Dividends. Sur. or Def.
Taxes.
(Incl.oth.Inc.).
21
19Yearnet income for that period to be carried to samples; thereafter not more than
$3.007,465 $664,028 $416,743 $117.115 sur.$130.170
115,855 sur. 67.253
34 the sum which subsequently becomes available for divs. to be paid as 1920
415,917
599.025
3,040,725
such, balance to be carried to surplus; with protective provisions for maint. 1919
102,000 sur.101,341
537.251
740,592
2,6.12,527
and depreciation. l'ref. stock has equal voting power, share for share,
237 passenger and 50 service cars:
miles track
Property, dec.-203.12
with the corn. stock, preferred both as to divs, and assets, red, at option of 3 power plants having 43.000 h.p. generating capacity, 426 miles electric
co., all or part, from time to time at 105 and divs.
-The co.'s gen mtge. 6s are a 2nd lien on the Morgantown proper- pole lines.
Bonds.
-P., Lucien H.
-P., Thos. Cheyne: V.
OFFICERS.-Pres.. E. L. West; V.
ties and a 1st lien on the stock of the Wheeling Public Service Co. Of Tyng; Treas., W. Buchsbaum; Sec., C. N. Wilson.
-V. 110, p. 2293, 2488,
Union Utilities 1st mtge.bonds, not included in amountoutstanding,$10,000 V. Ill, p. 589, 1662. 1950, 2141; V. 113, p. 294, 2506; V. 114, p. 948, 1652.
are in the treasury, $405,000 are held alive in sinking fund, and remainder
-A trolley road.
(a) Reading Traction.
are reserved for improvements and extensions at 75% of cost. Red. at
-Inc. Mar. 9 1893 In Penna. to operate the Reading
105 and int. on any int. day on 30 days' notice. Sinking fund I% semiORGANIZATION.
annually of bonds outstanding and in sinking fund. After setting aside 1% City Passenger Ry. and East Reading Electric Ry., which it equipped with
-a, and payment of 7% on prof. and 10% on corn., sinking fund shares electricity and leased for 99 years, the former from April 1 1893. and the
s.
equally with any further dividend on common. V. 90, p. 373.
latter from May 1 1893. On Oct. 1 1894 leased the Reading & Temple
leased on Jan. 1 1896
EARNINGS. For 12 months ending Dec. 31 1921, gross, $799,450; Electric thy., for 99 years. The Reading Traction wasCo.) for 900 years at
& Light
after taxes, $227,960; other income, $24,718: bond int., $128,678; to the United Traction (now Reading Transityears. $20.000 for next two
not,
pref. divs.,$43,851; deprec.,$28,447; balance,$43,347. a rental of $10.000 annually for first three
rentals, etc., $8,536;
years, and $30.000 thereafter, and all bond interest
-7 months ending July 31:
LATEST EARNINGS.
Maturity.
Interest. Outstanding.
Date.
0th. Inc.
Deducts.
Balance.
STOCK AND BONDS7 Mos.- Oper. Rev. Net, aft. Tax.
$1.000,000 July'22. 75c.
$16.797
$191,460
$77,421
$130,836 Stock.$1.000,000 autti 4503-- ---$536.197
1922
50J.000 Jan 1 1933
6g
13.762
$600,000 gold guf 1893
97,666
78.958
32.470 First mtge,
430,895
1921
Co.. Phila.. Trustee.
Not subject to call___c•cpraProvident Life & Trust
-With its controlled co. has 2 electric power plants
Co. Bonds are
PROPERTY.
Interest Is payable in Reading at the Colonial Trust
aggregating 6,0110 h. p. capacity: 2 water pumping stations; 2 gas primping listed on the Philadelphia Stock Exchange. V. 88. p. 749.
of electric lines; 179
'70; in 1902 and since. 3% per ann.
stations: 120 gas wells; 6 oil wells: 152 miles miles of urban and miles of
Dtvidends.-In 1900, 2%;In 1901, 234
suburban
gas pipe lines: 74 miles of water pipe lines; 45
Interest. Outstand'g. Last Dir..dtc.
Standard gauge. 91 cars.
LEASED LINES SEC1UR'S. Date.
railways, largely on private right-of-way.
-P.. Max R. Stern; Treas., Geo. Reading City Passenger RyAnderson; V.
$350.000 See text.
-Pros.. Fred
OFFICERS.
J-J
Stock ($350,000) (par 5.50)-V. 111, p.
Letts; Asst. Treas., R. A. Bruce.
B. Adams; Sec., Ira Lloyd
East Reading Electric thy
100,000 See text.
A-0
1853; V. 115, p. 989.
Stock, full paid (par $50)--- ---25.000 July 1 1937
5 J-J
-All the corn, stock is owned by the
Bonds. $25.000-------cot 1897
(1) Wheeling Public Service Co.
Electric thy
Reading & Temple
West Virginia Utilities Co.
73,700 See text.
7 A-0
Stock, 575.000, guar-opt ---In 1920 and acquired the Wheeling-Elm
-Organized
ORGANIZATION.
73,700 Oct. 1 1924
5 A-0
1894
let mortgage, $75,000
Grove proper.Aes of the West Virginia Traction & Light Co. (for history




122

ELECTRIC RAILWAYS

Dividends on Leased Line Stocks.
-The Read ng City Passenger stock
received dividends. 1896 to 1899, Inclusive, 10%; 1900 and thereafter 12%
East Reading stock received dividends: 1896. $6,500; 1897 to 1900. Incite
sive, 57.000; thereafter. $8,000. Reading & Temple Electric pays 7%
annually In dividends, A. & 0.
Bonds.-ReadIng Trust Co. Is trustee for East Reading Elec. Ry. bonds
subject to call in 1927 at par. Int. on Reading St Temple bonds is payable
at Reading Trust Co., trustee. Coupon ($100. $500 & $1,000).
ROAD.
-Leases 48 miles of track. Gauge 5 ft. 23S in. Rails. 90 lbs
V. 88, p. 749.
(h) Schuylkill Valley Traction.
-Trolley.
The United Power & Transportation Co. owns all of the 5500,000 capita
stock and the entire $100.000 income bonds.
Lease.-Lea.sed for 900 years from Apr11 1 1910 to Reading Transit Co
(succeeded by Reading Transit & Lt. Co.) Rental, $5,000 let and 2d years
$15.000 annually thereafter, and $1,000 annually for maintaining organisation. Reading Transit & ht. Co. also assumes all obligations of Schuylkill
Valley Trac. and its leased lines.
ORGANIZATION.-Incorp. in Pennsylvania Sept. 8'1893 as the Nor
ristown Bridgeport & Conshohocken Traction Co., and on Jan. 5 1981
chartered as present company. Since Jan. 15 1895 has controlled and
operated the Conshohocken By., the Montgomery County Passenger By..
the Citizens' Passenger By., the Collegeville Electric Street Ry. and the
Norristown Passenger Ry. The corporate existence of the several companies is to be maintained, but their bonds will be taken up as rapidly as
passible.
In Jan. 1902 leased for 950 years the Roxborough Chestnut Bill & Norristown Ry., including that company's leases of the Wissahickon Electric
Passenger By. and the Trappe & Limerick Electric By.
STOCK AND BONDSDale.
Interest. Outstanding. Maturity.
Stock, $500,000 ($50)
$500,000
First mortgage, $400,000, g 1895
5 g F-A
245.000
Aug. 1945
($1,000)
c cpt Int. at West End Tr. & S. D. Co., Phila., Tr.
Income mortgage, $100,000 1899
5 ann.
100.000 Aug. 1 1949
($500)
cpt West End Tr. & S. I). Co.. Phila., Trustee
Of the $500,000 first mortgage dated 1895, $100,000 has been retired and
destroyed, $75,000 has been reserved to take up like amount of the Norristown l'assenger By. bonds and $80,000 to retire the Citizens' Passenger Ry.
bonds.
The securities of the subsidiary companies are as follows, including both
hose held by the public and by the parent company.
STOCK AND BONDS- Miles.
Interest.
Issued.
Maturity
Citizens' Pass Ry stock ($50)- 6Si
$79.400
1st mtge ($500) $80.000 gold t ____
5 g F-A
80.000 Feb. 1 1925
guaranteed
cptiSubJect to cad at 103 on any interest date.
(Int. at Norris'n Title, Tr.& S. D. Co., True
Conshohocken By stock ($50)- 5A
115.900
1st M. guar., prin. & let.), ____
5 g J-J
100.000 July 1 1924
$250,000
cpt'Subj. to call at 105. Norristown Tr. Co., tr.
Montgomery Co Pass By stock 1Si
150.000
1st mtge $150.000
cptl. 11i
15,000
1923
6.
14
j Int. at Albertson Tr. & S. D. Co., Trustee
Norristown Pass By stk (350). 4 Si
75,000
First mortgage
cpt), 4)i
6 J-.I
75.000
1923
lint. at Albertson Tr. & S. D. Co. Trustee
I3onds.-The Conshohocken By. bonds ($100.000) and the Montgomery
County Passenger By. issue (515.000) are held by the Schuylkill Valley
Traction Co.
ROAD.
-Operates 57.03 miles of track, including lines of above-mentioned companies, and also Roxborough Chestnut Bill & Norristown.
Gauge,5ft. 2161n. Rails.60 and 100-1b. T & girder. 91 cars. V.70, p. 281.
,
(a) Roxborou gh Chestnut Hill & Norristown Ry.-A troiley road.
The United l'ower & Transportation Co. owns 4,959 out of the 4,96
shares of the capital stock. In Jan. 1902 was leased for 950 years to the
Schuylkill Valley Traction at a rental of $4 50 per share .payable semi-ann
ORGANIZATION.-Incorp. Dec. 2 1895 in Penna. In 1898 leased the
Wissahickon Electric, 3Si miles, for 950 years; rental to be 2% on the
$145,842 stock for the first two years, 3% for the next six years, 4% for
the next seven years and 5% for the rest of the term. Also owns the
$250,000 stock of the Trappe & Limerick Electric Street Ry. and leases that
company for 950 years. Comprises 22 miles of track. In June 1896 flied a
mortgage for $450,000 to the Real Estate Title Insurance & Trust Co..
Philadelphia, securing 57 gold bonds ($1.000) J. & D. (cpt), due June 1
0
1926. Issue reduced to $396.000, of which $371,000 was outstanding on
Dec. 31 1920. Capital stock auth., $150,000: issued. $248,400; Per, $50.
Trappe & Limerick Elec. St. Ry. 5% gold stock cents. due July 1 1931
int. (J. & J.) at Real Estate Title Ins. & Trust Co.. Trustee. Auth. $250,000, and outstandints, $249.000. Secured by deposit of $249.000 sleek of
the Trappe & Limerick Street By.
ROAD.
-Total track, 20A miles; gauge, 5 ft. 2Se in.; rails. 70 to 90-lb
girder.
-V.62, p. 1042.
(h) Trappe & Limerick Electric Street Ry.
ORGANIZATION.
-Incorporated in Pennsylvania on July 25 1899.
Was leased on Dec. 311901 to Roxborough Chestnut Bill & Norristown Ry.
for 950 years at a rental equal to 5% per annum on capital stock, interest on
bonds, taxes and $100 maintenance expenses.
STOCK AND BONDSDate. Interest. Outstanding. Maturity
Stock $250,000 ($50)
$250.000
See text.
First mortgage $250,000 gold 1901
250.000 July 1 1931
43i _g
($1,000)
c*cpt Int. at Real Est. T. Ins. & Tr. Co.,Phil..Tr
Bonds.
-Are guar.. p. & I. by Roxborough Chestnut Bill & Norristown
ROAD.
-Length of line, 13.35 mites.
(c) Lebanon Valley Street Railway.
-A trolley road.
Lease.
-Leased to Reading Transit & Lt. Co. for 900 years from April 1
1910. Annual rental of $40,000 and yearly payment of $500 for organization, as well as taxes and interest on bonds.
ORGANIZATION.
-Incorporated on June 28 1899 as a consolidation of
the Lebanon & Annsville Street Ely. and the Lebanon & Myerstown Street
Ry. The United Power & Transportation Co. owns all the 10.000 shares
the capital stock.
Interest. Outstanding. Vfaturity.
STOCK AND BONDS
Date.
$500.000 See text.
Stock $500,000 (par $50)-- s
500,000 July 1 1929
"
1-st mortgage 10-30s gold), 1899
5g
$100,5500 & $1,000)c-cpt lint. at Real Est. T. Ins. & Tr. Co., Ptah.. Tr,
ROAD.
-Owns 22.08 miles of track. Gauge 5 ft. 2Si in. Rails 50. 75
91! & 100-113. girder. 23 cars.
-See "Railway and Industrial" SupMETROPOLITAN EDISON CO.
plement for May 1920.

RICHMOND, VA.
VIRGINIA RAILWAY & POWER CO.
ORGANIZATION.-Incorp. in Virginia on July 1 1909 and is successor
to the Virginia I'assenger & l'ower Co. sold at foreclosure May 5 1909. V.
89, p. 44, 105. The reorganization was under plan given in V. 87, p. 347.
On July 1 1911 took over by consolidation the Norfolk & Portsmouth
Trac. Co. (into which was merged the Norfolk & Atlantic Terminal Co. on
June 30 1911), and increased its stock to $12.000.000 corn. and 58.000,000
pref.; $150 Virginia By. & Power corn. was exchanged for each $100 Norf. &
Portsrn. corns the pref. was exchanged share for share. V. 93, p. 106.
For history of Norfolk & Portsmouth Traction organization see "Electric
Railway Section" of June 1911. p. 84.
Through acquisition of Norf. & Portsm. Trac., the Virginia By. & Power
Co. acquired the lease of the Norfolk Ry. & Light Co. for 99 years from
June 1 1906 and the entire $100.000 capital stock and ($1.000,000) bonds
of the Norfolk & Ocean View Ry. Co. (dissolved April 5 1917)•
On June 29 1912 sold to Richmond & Rappahannock By. the "Seven
Pines Line" of railway, 29th and P Ste., Richmond, to Seven Pines. Bernie°
County. 8.88 miles, for cash consideration of $25,000. V. 95, p. 1397.
On July 20 1916 the shareholders ratified the merger of the Richmond
Ry. & Viaduct Co. (all of whose stock was owned), and auth. an increase
in prof. stock from $8,000,000 to $9,000,000 in connection therewith.
V. 103, p. 407.
Owns or controls through lease practically the entire street railway, elecNorfolk (all
tric light and power business in Richmond. Petersburg, interurban except
railway
line to Virginia Beach), Portsmouth and Berkeley; an
's
Petersburg; a line from Norfolk to Sewell Point,
connecting Richmond and




.
[Arm, 115.

where connection is made by ferry to Newport News and Old Point Comfort; electric light business of Suffolk, Va.:: the City Gas Co., with unlimited
franchises. In Dec. 1921 the directors decided to organize the Richmond
Trackless trolley Co., which will operate buses over certain routes. V. 113.
p. 2615. See also V. 114, p. 2826.
Franchises.
-The Manchester & Petersburg By. franchises are perpetual.
The principal railway franchises in Richmond expire in 1926 and 1931.
The interurban railway franchise expires in 1981. The water power rights
In Richmond and Petersburg are perpetual. These rights are only partly
utilized and are capable of a large further development. The more important rights for lighting in Richmond expire in 1927 and 1928 and in Manchester in 1931. The Petersburg lighting franchises are perpetual. V. 89,
p. 529. Franchises for street railways in Portsmouth expire in 1926, 1927
and 1932. Street railway franchises in Norfolk expire in 1944. In 1915
the City of Suffolk granted a new 30-year franchise to do a light and power
business and made a 10-year contract for municipal light and power service
with certain rights of renewals. Negotiations are in progress with the cities
of Richmond and Norfolk for the entire revision of the railway and light
and power franchises.
In Jan. 1913 Virginia Supreme Court held company liable for the cost
of paving between and two feet outside the tracks.
Valuation of City Gas Co.
-See V . 110 p. 1416:V. 112, p. 259.
For reproduction value as fixed by Stone & Webster, see V. 111, p. 494,
1473. For valuation of Richmond lines by Stone & Webster see V. 112. p.
1743. Valuation of P. U. Comm.In V. III, p. 1473. Taylor-Cooke valuet ion will be found in V. Ill. P. 2(25. See al.:. V 111 p 23S6 V. 112. p.
637, 654, 1400, 2085; V.113, p. 72. Now valuation by Va. Corp. Comm.
will be found in V. 114, p. 2361.
Value of Old Richmond Passenger & Power Co. Deb. Bonds.
-Son V. 114.
p. 2581.
Fares.
-On Feb. 3 1919 the Common Council of Richmond. Va. voted
Vs.,
to grant the co. an increase in fares from 6 tickets for 25 cents to a
5-cont fare. Labor tickets formerly sold at 2 for 5 cents will now be sold
at the rate of 6 for 25 cents. V. 108, p. 685; V. 110, p. 765. In Mar. 1919
the increased rates were approved by the Mayor. V. 108, p. 975. On
Sept. 28 1919 fares in Norfolk and, on Sept. 29 1919. in Portsmouth, were
raised to 6 cents. A 6-cent fare in each of the zones outside these cities also
went into effect. V. 109, p. 1368. Effective Jan. 1 1922 fares in Portsmouth were raised to 7 cents for a temporary period. V. 113, p. 2722.
On July 21 1920 was authorized to raise fares in Richmond to 6 cents.
V. 111, P. 794; V. 113, e. 536. In Feb. 1921 was authorized by the Virginia Corporation Commission to raise faros on the Ferndale l'ark line from
5 to 10 cents. V. 112. p 746. In May 1921 the Comm. auth. a 20% increase in fares between Richmond and Petersburg, Va, but denied the co.'s
petition for the abolition of transfers in both cities. V. 112. p. 2085. The
Norfolk City Council in May 1921 passed an ordinance granting the co. a
7-cent fare with free transfers. V. 112. p. 2307. In June 1921 the Richmond City Council Committee denied the co.'s petition for a straight 7-cont
fare. V. 112. p. 2750. But see V. 113, p. 72, 536.
Decision.
-For ruling of Supreme Court of Appeals in Sept. 1922 that
right to fix street car fares is vested solely in the State Corp..Comm., see
V. 115, p. 1534.
Interest. Outstanding. Maturity.
STOCK AND BONDSDate.
A-0 $11,950.200
Common $12,000,000 ($100)_See text.
J-J
l'referred $9.000.000 ($100)-8.956.300 See text.
Preferred stock scrip
30.790
First and refunding mortgage 1909
9,960,000 July 1 1934
5g J
$15,000.000 g ($1.000)_c* Int. at Equitable Tr. Co., N. Y., trustee.
Norfolk & Purism let mtge 1906
7,218.000 June 1 1936
5 g J-D
58.000,000 (51,000) gold._ Int. at Commercial Trust Co.. Phila., Trus.
Norfolk & Atlantic Term 1st 1899
5 g M-S
478.000 Mar 1 1929
edge $500.000 gold_
Interest at Alex. Brown & Sons, Baltimore.
Oar trust certificates gold), 1920 8 g J-3
5150,000 See text.
(51.000)
c*fDivs. at Philadelphia Trust Co., Phila., Ti'.
Stock.
-The pref. stock was entitled to non-cum. divs. of 5% up to Jan. 1
1914 and thereafter to non-cum. dive, up to 6%. Both coin, and pref. are
listed on the New York, Philadelphia and Baltimore Stock Exchanges. V.
92, p. 882, 1033, 1111. 1375; V.93, p. 230. See official statement to N. Y.
Stock Exchange, V. 92, p. 1118.
Bonds.
-$779,000 1st & ref. bonds are in treasury, and remainder are
reserved for future improvements. subject to certain restrictions. Sinking
fund. Si% semi-annually of bonds out from 1914 to 1919 and Se % semiannually thereafter;$1,315.000,notincluded in amount reported outstanding,
held In sinking fund Aug. 31 1922. Bonds are subject to call at 105 and
Interest. V. 92, p. 1212. Listed on New York, Phila. and Baltimore
Stock Exchanges. V. 94. p. 125: V. 96, p. 1425: V. 100. p. 557. Unissued
Norfolk & Portsmouth let M bonds of 1906 may be issued for acquisitions.
extensions and improvements. but not over $500.000 in any one year.
A sinking fund of Si% per annum of outstanding bonds began June 1 1916,
which is to be invested in the bonds; 5381.000, not Included in amount
reported outstanding, held in sinking fund .tug. 31
Are sub, to call at
110 and int. on any int. date upon 60 days' notice. Bonds are listed on
1922.
Phila.. Boston, Bait. and Pittsb. Stock Exchanges. V. 83. p. 492.
Car trust certfs. are secured on 50 safety cars. Due serially $50.000 each
July 1 1921 to 1925. Ited, as a whole on any div. date on 30 days' notice, at
101 and dive. V. 111. p.494.
Dividends.
-On pref. first div.-13S%-paid July 1 1910. In 1911.
1912 and 1913. 5%. In 1914, 5Si%. In 1915 to and incl. 1918, 6% per
ann. Jan. 1919 div. of 3% paid on July 20 1919. None to Jan. 1921. when
67 (payable in pref. stock) was paid. V. 111. p. 2012. In 1922, Jan.,
67 (payable in pref. stock). V. 114, p. 80. On common, first dividend
°
o
-1%-paid Oct. 1911. In 1912, 2%; 1913 to 1917 incl., 3%; April
1018 div. omitted (V. 106. p. 1127): Oct. 1918 div. of 3% was made payable
in stock of Old Dominion Iron & Steel Corp. V. 107, P. 1288. None since.
REPORT.
-Of combined properties for 8 mos. end. Aug. 31 1922,
cal. years 1921 and 1920 and year ending June 30 1920:
a Years ending Dec.31- d 8 mos.'22. d 1921.
d 1920.
1919-20.
41,425.493 85.637,593 94,560,011 95,675,311
Fare passengers
Transfer & free pass'g,ers 10,693.603 18,556.853 17,250.568 18.30.5,783
Revenue transfer pass_
998,086
1,805,096
1,215,977
55,119,096 105,192,532 113,615,675 115,197,071
Total passengers
K.w. hrs. output, corn'1_114,629,745 158,066,825 156,224,788 112.814.071
Gas sold. cubic feet
604,148,300
$5,981,041 510,173,335 $9,993,576 $9,908,006
Gross earnings
Operating expenses
3,745,426
7,067,662
7,080,070 6,115,670
Net earnings
52.238,015 $3,105,672 $2,913,506 $3,792,336
Other income
137,685
235,457
117,068
161,424
Net income
$2,376,300 53,311.130 53.060,574 $3,953,760
Taxes, interest, &c_
$2,258,559 $2,222,944 $2,287,464
Preferred dividends
c
c
Conunon dividends
Surplus for year
$895,670 $1,082,570
5837,630 51.666,296
Direct charges to P.& L.
$22,486
$92,471
$310,908
150,657
Depreciation reserve
*594,480
Bal. to prof.& loss_ _sur. $873,181 c$990,099 sr.c$526,722sur.$921,159
a Fiscal year changed in 1920 to end Dec. 31. c 6% was paid on pref.
shares payable in pref. stock, which amounted to $507,738 in 1921 and
$479.952 in 1920, leaving a surplus of 5482.360 in 1921 and $46.770 in 1920
to be carried to profit and loss surplus. d Operations of OUT Gas Co. of
Norfolk excluded.
ROAD, &O.
-The company operates 250.168 miles of single track; 602
passenger and 44 service cars. Also owns valuable park properties and
other real estate. Rails, 95 to 119-lb. girder and 60, 70 and 80-1b. T. 6
power stations and 22 sub-stations, combined capacity 98.280 k. w. A
il9.
transmission
ss171ine between Richmond and Norfolk. completed and in opera2
ti
OFFICERS.-Pres., Thomas S. Wheelwright, Richmond; Vice-Presidents, Fritz Sitterding; V.
-P. & Gen. Mgr.,
V.
-P. & Gen. Counsel, E. Randolph Williams, Richmond; Sec. & Treas.,
Geo. B. Williams, Richmond; Asst. Sec. & Asst. Treas., Geo. B. Taylor.
New York; Gen. Aud. & Asst. Treas., W. J. Kehl; Asst. Gen. Aud. & Asst.
N Y. office 149
General office. Richmond Vs
See., A. E. Dickson
11'way.-V. 113, p. 2722; V. 114. p.80. 199, 308,628, 739, 2361,2581,2826:
V. 115, p. 310, 647, 983, 1534, 1633.

OCT., 1922.]

ELECTRIC RAILWAYS

(1)

Norfolk Railway & Light.
Traction Co
-W as leased on June 1 1906 to Norfolk & Portsmouth years, rental
Lease.
(since consolidated with Virginia Ely. & Power Co.) for 99 1 and Dec. 1
charges), $16,500 each June
being (in addition to all fixed
-a.
from June 1 1906 to June 1 1907, inclusive, and increasing to $49,500 s.
on Dec. 1 1912 and thereafter. V. 82, p. 1323.
of the
0RGANIZATION.-Incorp.In Va. Nov.2 1899 as a consolidation Elec.
Virginia
following; Norfolk Street RR.. Norfolk & Ocean View Ry.,of the Norfolk
stock
Co. and Berkeley Light & Power Co. Owns entireexpire in 1914, except
Light. Heat & Power Co. Street railway franchises
Electric
a small portion of mileage in Norfolk, which expires in 1934. railway,
light franchise expires in 1930. The company controls the street
lighting and power business of the city of Norfolk and owns a line
electric
to Old Point
of railway to- Willoughby Spit and connects with steamer stock of the
Comfort; also owns 4.011 shares out of 5.000 shares of the Virginia Ry.
of Norfolk, remaining shares, 989. owned by
City Gas Co.
& Pow. Co. On Aug. 30 1904 the City Gas Co. purchased the Berkeley
Gas Co. V. 79. p.968. Stock is listed on Phila. and Balt,stock exchanges.
Maturity.
Interest. Outstanding
Date.
STOCK AND BONDS41,650,000 June'21,3%
6 J-D
Stock $1,650,000 ($25)------ __
10,000 April 1 1928
A-0
5
Virginia Electric Co. 1st mtge 1898
$500,000 gold ($1.000)____ Int. at U.S. Mtge.& Tr. Co.. N. ''..trustee
823,000 Jan 1 1944
5 g J-J
Norfolk Street 1st cons mtge 1898
$1.040.000 gold ($[.000)c Int. at Mere. Tr. & Den (io Halt., trustee
2,393.000 Nov 1 1949
5 g NI-N
Norfolk Ely & Lt 1st eons mtg J 1899
$4.000,000 g ($1,000) Is f_c*lInt. at Internat. Tr. Co.. Baltimore, trustee
500,000 June 1926
6 J-L)
City Gas Co first mortgage__ J ____
1U. S. Mortgage & Trust Co., N. Y.. trustee
Light first consol. mtge. $1,050.000 is reBonds -Of the Norfolk Ry. &
served to retire underlying bonds. Sinking fund began Nov. 1 1909. and
Provides for the purchase of I% of outstanding bonds each year at 110 or
less. See V. 70. p. 584. $557,000 of bonds not reported outstanding held
in sinking fund Aug. 31 1922. $219,000 Norfolk Street RR. bonds not reported outstanding also in sinking fund as of Aug 31 1922.
-Ps., T. Norman Jones
OFFICERS.-Pres., Thomas S. Wheelwright; V.
Jr. and F. Sitterding; Soc. & Treas., G. B. WIlliams.-V. 82, p. 1323;
V. 106, p. 925.

ROCHESTER, N. Y.

123

Date.
Interest. Outstanding. Maturity.
STOCK AND BONDS39,000 Jan 1 193i
5 J-J
Utica Belt 2d rage 4200.000 1891
c Interest at N. Y. Trust Co., N. Y., trustee.
gold ($500)
150.000 Jan 1 1925
5 g J-J
Berk Mo Ilion Sr Franicfort 1895
mtge g $150,000 ($1,000)c* Int. at Farmers' Loan & Tr. Co.. N.Y:, true.
2.500.000 Mar 1 1949
5 g M -S
ayrac R T ist
($3.250,000) 1896
c* Guaranty Trust Co., New York, trustee.
gold (51.000)
654.000 Jan 1 1930
do 2(1 mtge 4750.000(41
5g
1900
Int. at Union Trust Co., 014-W.. trustee.
000) gold
250,000 June 1 1929
5 J-D
East Side Traction 1st M ( 1899
$250.000 ($1.000) told __ I • et. at Union Trust Co.. elev., trustee.
36.000
- Real estate mortgages._
Stock -Preferred stock can be increased only with consent of two
thirds of outstanding preferred stock, and holders are to have right to take
<heir proportionate shares of such increase. Stock is subject to call at 110
upon any city. day on 30 days' notice. V. 88. p. 945. Both stocks are
listed on N Y. Stock Exch. See official statement V 02 D 951
-Of the first consol, bonds outstanding,$3,000,000 (ser. "B") bear
Bonds.
$10,561,000 are reserved
int. at 6 % and $13,457,000 (ser. "A") at 4
to retire underlytng bonds. V. 114, p. 1651. The remaining bonds may be
issued for equipment, impts., &c., to the extent of 90% of the cost, and for
acquisitions at actual cost, provided in each case that the annual net
income (including net income on securities owned) shall be one and onehalf times the annual interest charge on all bonds, including underlying bonds then outstanding and any add'i 1st consols. desired to be issued.
3er A. bonds are red. at 105 & lot, on 60 days' notice. V 9.5. p. 1208; are
isted on N. Y. Stock Exchange; exempt from Federal. State, county and
municipal taxes. Rochester Ry. cons. & 2d M. bonds cannot be called.
Syracuse Rap. Tran 2d \I bon is are sill-fleet to call on any Interest date
-1 % on pref. paid July 1909 and guar. to and incl. April
Dividends.
1918. None to July 1922 when 1% was paid together with 5% on acct.
of arrears. In Oct. 1922, 13.1% and 5% on acct of arrears. Accumulated
divs. in arrears, 10%. On corn., 1)% quar. from July 1910 to July 1914;
Oct. 1914,1%. V.99, p.89.1. In 1915, 4%;in 1916, 4:Ys %;in 1917, Jan.,
1%; April. 1%; July, 1%. None since.
RE PORT.
-Combined statement for years end. Dec. 31 (after allowing
-1921 report in V. 114, p. 1003:
for inter-company charges)
Pref. Balance,
Sink.
DeducNet, after Other
Gross
Calendar
Fund. Divs. Sur. or Def.
Year- Revenue. Taxes,&c. Income. lions.
$
534,780
1921_ 10,693,524 1.554.244 388,654 1,374,014 34,074 ____
397,047
1920_ .10.457.011 1.166 310 300.011 1.336.671 32 633 __-Balance sheet as of July 31 1922 in V. 115, p. 1838.
-On Dec. 31 1921 operated 337.61 miles of railway, of which
ROAD.
276 60 miles owned, 60.95 miles leased, and .09 trackage rights. Miles
main single track, 556.62 (of which 427.25 miles owned, 129.19 miles leased
and .18 miles trackage rights):sidings, drc.. 38.42 miles; total track mileage.
595.01. Miles of railway owned, leased and operated by subsidiary cos.,
addition to mileage operated directly by N. Y. State Railways:
Owned. Leased. 0pPrated.
4.69
a Rochester Electric Railway
__ _
2.53
Ontario Light Ss Traction Company
1
3
- -69.: (
9.58
59.78
Co
h Schenectady Railway

NEW YORK STATE RA I LWA l(S.-Of the common stock, $13,604,300
(also $600 pref.) owned by New York Central RR.
ORGANIZATION -Incorporated in New York on March 22 1909 as a
consolidation of the Rochester Ry. Co.. the Rochester & Sodus Bay Ely. Co.
and the Koch. & Eastern Rapid Ely. Co.(as per plan V. 88, p. 53, 823. 945.)
the
merger
and on Oct. 17 1912 the P. S. Comm. approved the further Transit with and
Ry.
Syracuse Rapid
Utica & IVIotaawk Valley Ry.. Oneida Ely.,storks had ,
alreadv been owned
all of whose
Rochester & Suburban Ry.
itself the East Side TracV. 95, p. 1040. Aug. 28 1919 the co. merged into
since 1912. Compare
tion Co., the entire stock of which had been owned
V. 108. p. 683.
was a consolidation of the Rochester City &
The Rochester Railway
RR., and leased
9.58
69.36
67.00
Brighton RR.. the Cross-Town RR. and the South Park at a rental of 8%
Total
years.
the Rochester Electric Ry. from July 1 1894 for 50
a Leased to N. Y. State Rys. b N. Y. State Rys owns a half Interest.
gross receipts exceed $55.000, one-quarts r
on $200,000 stock, and whenever
flas 842 passenger, 19 express and 140 other cars (including 2 electricof such excess.
locomotives) and 40 snow plows; total, 1,011.
Light & Traction Co
-P.'s, Walter Kernan, Utica,
In 1917 the property and franchises of the Ontario
OFFICERS.-Pres., James F. Hamilton; V.
Rochester
other than the electric railway property, were disposed of to the
and Benjamin E. Tilton, Syracuse; Treas., M. S. Barger, N. Y.; Sec. Sr
Ry. & Light Co.
J. C. Collins, Rochester; Asst. Sec., II, I. Reichart, Rochester,
in stock from Treas.,
-V. 113, p. 2721; V. 114, p.
N. Y.
On March 10 1910 Pub Ser. Comm authorized an increase
take over the Rochester & Subur- N. Y.; Gen. And., J. M.Joel, Rochester,
523,140,200 to $23,860.200 to be used to Electric Ry (stock $200.000) and 1063, 1408, 1651, 2013, 2718, 2825; V. 115, p. 760, 988, 1321, 1429. 1533,
han Ry. (stock $420.000). the Rochester
1731, 1838.
& Traction Co.(stock $100,000). See V.90, p. 914, 1425
the Ontario Light
-A trolley road.
(1) Schenectady Railway.
In Jan. 1912 applied to Public Service Comm.,2d Dist., for authority to inEntire stock is owned jointly by the N. Y. State Rys. and the Dol. &
crease stock to $25,362,500. V. 94, p. 68. Permission was not granted.
Bud. Co.. one-half by each. V. 80, p. 652; V. 87, p. 286. 545: V. 88. p. 54
the stocks owned by the N. Y. State Railways:
The following Is a list of
of whole amount
-Incorporated in New York. A reorganization on
ORGANIZATION.
$2,050.000 or 50%
Schenectady Railway Co_
Feb. II 1895 of Schenectady Street Ely. Cs., which was chartered in 1886.
10.000 " 100%
Syracuse Land & Steamboat Co__
C)ontrols the entire street railway business in Schenectady and owns and
4,450 " 100'7
Syracuse & Valley Land Co
14,500 " 10040% "
Jporates double-track lines to Albany. Troy and Ballston Spa, and, under
Glen Haven Improvement Co
l•raffic agreements with the Hudson Valley Ely., from Ballston Spa to
100.000 " 100.00% "
Ontario Light & Traction Co_ _ _
Saratoga Springs. Has trackage rights over the United Traction Co.'.
176,500 " 88.30% "
Rochester Electric Railway 00_ -;.racks into Albany and Troy. Franchises perpetual.
850
Favorable Decision Regarding Fares.-On May 21 1914 the P. 8. Comm.
Also owns $55,000 City of N.Y.43i% coup."Corp. "stock and $240,000 1ismiased the complaint of the city against the company in which an order
railroad bonds.
was asked compelling the company to still 911C tickets for a quarter instead
Franchises in Rochester are practically perpetual and exclusive, with of a straight rate of 5 cents. V. 98, P. 1609. See also V. 100, p. 231.
-The restrictions in certain franchises within the city of SchenecFares.
exception of a few extensions which run for 50 years.
-cent fares were waived by Common Council May 24 1920.
Contract for Power -Power for all lines 19 supplied under a long-term cqn- tady as to 5
applicaRochester Gas & Electric Corp., whose entire corn, stock is The P. S. Commission on July 27 1920 decided favorably upon the effective
tract with the
RR.).
tion of the company to increase rates. The increased rates, made
owned by Mohawk Valley Co.(in turn owned by N. Y. Central
Aug. 1 1920, were as follows: (a) On the Schenectady urban lines the rate
-See V. 102. p. 2167.
Favorable Jitney Decision.
of fare was increased from 6c. to 7c. (b) On the Troy interurban division,
On Dec 29 1916 the Court of Appeals upheld the constitutionality of the the Schenectady-Troy rate was increased from 31c. to 35c. Intermediate
-cent fare within the
Charlotte annexation bill which provides for a single 5
zone rates were changed from 6c. to 7c., the minimum interurban fare.
city limits as extended. The co. appealed from the decision, was defeated, (c) On the Ballston interurban division, the Schenectaly-Ballston rate was
and carried the case to the Supreme Court, and on Sept. 13 1918 a decision increased from 30c. to 35c. The intermediate zone rates were changed
favorable to the company was rendered.
from 6c. to 7c., the minimum interurban fare. (d) On the Albany division
-At a hearing held before the P. S. Comm. on Feb. 26 1919 the Schenectady-Albany rate was increased from 28e. to 29c. On July 5
Valuation.
the appraised valuation of the co. was given as $53,326,235. For valuation 1922 the P. S. Comm. established a universal 7c. faro on the lines of the
See also V. 111,
of the co.'s property in Syracuse see V. 111, p. 1472. For valuation by United Trac. Co. in the elites of Albany, Troy and Watervliet. This did
through rates on the lines of the
p. 2521. For valuation of Utica lines see V. 112, p. 63.
V.113'p 849. not affect any change in the foregoing
Board of Appraisers for the city of Rochester. in Aug. 1921,seeincrease fares Schenectady By. Co. between Schenectady and Albany and Schenectady
Fares.-fn June 1917 applied to P. 8. Comm. for auth. to
V. 115, p. 437.
and Troy.
from 5 to 6 cents in the cities of Rochester, Syracuse, Utica, Rome, Oneida,
Interest. Outstanding. Maturity.
Date.
in the
STOCK ANL) BONDSand Little Falls. On April 18 1918 Judge Cuthbert W. Poundsholding
$4.100,000 See text
itock $7,000.000 4100)
N. Y. State Court of Appeals at Albany handed down a decision
2.676.000 Mar 1 1946
5 g N1-S
First mortgage 420.000,000J 1916
increase fares on Rochester surface lines. The
that the Commission cannot
._c*.1U. S. Mtge. & Trust Co., N. Y . trustee.
gold ($1.000) _ -----court held that where a municipality and a street railway corporation have
Bonas.-$324,000 additional bonds may be issued to retire floating debt
agreement to fix the rate of fare at 5 cents, the pact is
entered into an
purposes. Rem tinder of first $5.000.000(Ser."A")
binding. V. 106, p. 1461. [On Oct. 21 1919 the Court of Appears reaf- and for other corporate
time for cash cost of extensions and permanent
Comm
firmed this decision. V. 109, so. 1610.1 In Nov. 1918 the P. S."for the may be issued from time to
Improvements. Bonds in excess of 45.000,000 may only be Issued for 80%
-cent fare in Syracuse and Utica
charge a 6
auth. the company to
of extensions. &c., under conservative restrictions, and may bear
duration of the war and a reasonable time thereafter." V. 107, p. 2098. of cost
be callable under such terms and conditions
In Dec. 1920 the Syracuse Common Council rejected a proposed 10-yr. interest, not exceeding 6%,and Ser."A" bonds are callable at 102.4 and
service-at-cost contract for the co.'s Syracuse linos. The co. then an- as the directors may determine. from N. Y. State, county municipal perExempt
nounced a 20% cut in service on these lines and appealed to the P. S. int. on any int. date. V. 102, D.
the
Comm. for a straight 10 cent fare. V. 111, p. 2325. A 10 cent fare on the sonal property taxes. div.-2 si% 887. 1906; 1907 and 1908, none, in 1909'
-in
co.'s Utica lines was asked for (V. 112. p. 63). but this was denied by
In 1916. 5%. In 1917, 3i1%.
Pub. Serv. Comm. in Sept. 1921. V. 113, p. 1251, 2721. In Sept. 1922 the 1%; 1910, 63-6%; 1911 to 1915, 6%.
Comm. auth. co. to increase fares to 7 cents for the Utica terri- None since.
N. Y. P. S.
Balance,
Net (after Other(net) DeducGross
tory pending a rehearing. V. 115, p. 1533. In April 1921 the P. S. Comm.
EARNINGS.Sur. or Def.
lions.
Taxes). Income.
Earnings.
auth. an increase in fares on the Syracuse lines to S cents cash. V. 112, p.
Cal. Year$147,400 def.$28,874
In Sept. 1922 fares in Syracuse were'reduced from 8 to 7 cents. V. 1921
$3,661
1741.
$1,706,778 $114,862
-cent faro in Rome. 1920
stu•.32,850
149.935
1,512
181,273
115, p. 1533. On May 25 1920 the co. began charging a 7
1,905,312
On July 16 1920 the Mayor signed the service-at-cost contract passed by the
-Operates 139.73 miles of track, of which 114.49 miles owned
ROAD.
provided for a 7-cent fare, effective
Rochester Common Council. This
and 25.24 miles operated under traffic agreements. 70. 75, 78 and 80-lb.
Aug. 1 1920 and has beers approved (V. 115, p. 1429) by the N. Y. P. S. I girder rail. Has agreement with Fonda Johnstown & Gloversville
Comm. V. 111, p. 389, 896, 090, 2325. Compare V. 111, p. 190.
Ry. Co. (electric division) whereby latter company operates its cars into
-For principal Schenectady. Operates 200 motor and 3:3 other cars.
Recommendations of Syracuse Street Railway Commission.
-cost for Syracuse
features of report by Ely. Comm. recommending service-at
-P. & Gen. Mgr., Harry B.
OFFICERS.-Pres. James F. Hamilton; V.
see V. 111,p. 1279, but compare V. 111, p.2325.Mtge. 6s due April 1 1919 Weatherwax; Gen. Supt., Wm. S. Hamilton; Sec., Treas. & Ptu•ch. Agt.
The $175,000 Rochester City & Brighton 1st
J. H. Aitkin; Gen. And., J. 0. Collins, Rochester; Aud., W. F. Smith.
maturity, but were subsequently retired.
were not retired at
V. 107. p. 502, 1385: V. 110, p. 563, 2488; V. 111, p. 589: V 112. p. 1867.
The $750,000 Peoples' RR. 1st M. 5s due Jan. 1 1921 were paid off at 2114; V. 113 p. 1472 18SS 2722; V. 111, p. 1181, 1109; V. 115, P. 437.
maturity, in connection with this payment the co. issued $750,000 1st cons.
mtge. 430. V. 112. p. 563.
ROCHESTER LOCKPORT & BUFFALO RAILROAD CORP.
Interest. Outstanding. Maturity
STOOK AND BONDS- Date.
-Incorporated in New York on April 4 1919 as sucORGANIZATION.
$19.952,400 See text
Q-J
Common $19.997.700($100)-_
cessor to the Buffalo Lockport & Rochester By. (for history see "Electric
See text
3.862 500
Q-J
Prof $3.862.500 MOO)5%cum
Supplement" of March 29 1919) as per reorganization plan in
435-6 gM-N 16,457.000 Nov 1 1<362 Railway p. 682. The 1st Mtge. bonds of the old co. were exchanged for
1912
let cons MSer A ,B 50,000,0001 - V. 108,
c*dirstf Security Trust Co. of Rochester, trustee
gold ($1.000)
$500 pref. and $750 common stock of the present company for each $1,000
Interest at Treasurer's office, New York.
2d Mtge. bonds of the predecessor co. received $500 in new
2.615.000 April 1 1930 bond, while thein new common stock for each $1,000 bond. The common
g A-0
5
Rochester Ely Consolidated 1840
pref. and $500
Mortgage $3.000.000 (31.- Interest at Treasurer's office, New York
stocks of the old co. did not participate in the plan.
and pref.
c* Bankers Trust Co., New York, trustee.
000) gold
-Was auth. by the N. Y. I'. S. Comm. to put into effect in LockFares.
1.500.000 Dec 1 193:1
5 g I-D
Koch Ry 2(1 M $1.500.0001 1893
port on April 1 1919 a 6-cent fare, to continue for 1 year and thereafter until
($1,000)..
c*lInt. at Security Tr. Co.. Rochester. trustee
gold
order of the Comm. V. 108, p. 1390. Compare V. 106. P. 2449.
4 ki g N1-S 2.268.000 Sept 1 1941 further July 10 1919, interurban rates were raised to 2 cents per mile
Utica & Mohawk Vail 1st Mi 1901
Effective
& Co., New York
$4;000,000 gold 31.000) Interest at Harris, Forbes
cents per mile for commutations: and, effective July 1 1920, these
with 1
cannot be called I New York Trust Co.. New York, trustee
mile and the commutation rate to
c*
500.000 Nov 1 11139 rates were further raised to 3 cents per
5 M-N
Utica Belt 1st mtgo $500,000 18539
cents per mile.
134
lInterest at N. Y. Trust Co., N. Y.. trustee
gold (51,000)
4

40

40

Miscellaneous




124

ELECTRIC RAILWAYS

STOCK AND BONDS- Date.
Interest.
Outstanding. Maturity
Common $2,200.000
$2,199,250
Preferred $1.500.000 cum_ __ _ ____
6%
1.499.500
-Preferred stock is pref. as to assets and dividends. The by-laws
Stock.
provide that no mortgage shall be placed on the property or assets of the
co. In priority to the pref. stock, without the consent of the holders of twothirds of the outstanding pref. stock. V. 108, p. 682.
EARNINGS.
-For years ending Dec. 31:
Gross
Other
Net (after
Interest,
Balance
Cal. Year- Earninas.
Tares). • Income. Rentals, (Sze. Sur. or def.
1921
$6,132
$557,582
$98.847
sr.x$93.848
$526
1920
572,464
95,112
7,342
526
er.x91,935
x After deducting income tax, &c.
ROAD.
-Operates about 58 miles between Rochester and Lockport
Rails 70 to 91-lb.
OFFICERS.-Pres., E.R.Wood, Toronto, Ont.; V.
-P.. A.S. Mulrhead.
Toronto, Ont.; Sec., Treas. & Gen. Mgr., W. W. Foster, Rochester, N. Y
V. 108. p. 1512.

[vol.. 115.
ROME, GA.

ROME RAILWAY & LIGHT CO.
-A trolley road.
ORGANIZATION.
-Incorporated in Georgia on Nov. 30 1908 as sueasssor to the City Electric Ry V. 83. p 1591. Furnishes light and power
to city and private Individuals. Franchises expire 1985; street railway
franchisee practically excluelve. In 1918 canceled the old first and consoL
mortgages arra muse a new first mortgage as shown below'
Fare Increase.
-In Jan. 1919 was auth. by the Ga. RR.Comm.to Increase
cares by 1 cent. V. 108. p. 172.
STOCK AND BONDS- Date,
Interest. Outstanding. Maturity
Jommon,$1.000,000 ($100)_$650.000
See text
QaT
Pref. $100.000 ($100) 7% cum
100.000
See text
Q-M
First mtge. $3,000.000. gold{ 1918
5 g A-0
850.000 April 1 1940
$500 and $1,000)---c*cpt Int. at Spencer Trask & Co., New York or
Fidelity & Columbia Tr. Co.. Loulsv.. Tr.
Bonds.
-Redeemable in whole or part at 10.5 and int. on any int, date on
dO days' notice. Sinking fund. 1% of outstanding bonds annually, began
Oct. 1 1917 for retirement of bonds at not exceeding 105 and Int.. or
Investment in new properties, atc.. against which no bonds may be Issued.
ROCHESTER & MANITOU RR.
Remaining $2,150,000 are reserved for not exceeding 80% of cost or fair
ORGANIZATION -Incorporated on Aug.121908. Acquired property of value of additional property or equip., or add'na. exta.. Impta.. &c. under
the Rochester Charlotte & Manitou, sold at foreclosure July 21 1908
conservative restrictions. V. 103. p. 61.
Dividends.
-On common in 1909. 2%; 1910. 1%; 1911. 3%; 1912. 6%1
Interest. Outstanding. Maturity
S rooK AND BONDS- Date.
1913. 5%. In 1914 and to and incl. July 1917. 1% quarterly; none to
Stock $60,000 ($100)
$60.000
First mortgage $60.00() gold; 1909
5 g M-N
58,000 May 1 1929 July 11919. In 1919 2% was paid. In 1920.4% regular and 3% deferred.
($500 and $1.000) _ _e*otflInt. at Security Trust Co.. Rochester. trustee In 1921, 4%. In 1922 divs. were being paid at the rate of 4% per annum.
-$2.000 bonds remain unissued. No sink. fund. Bonds are Divs. on prof. stock were begun in Sept. 1916 and have been paid reguBONDS.
larly since.
subject to rein at 105 and Int on 8 weelea' notice.
EARNINGS.
-For year end. Dec. 311921,gross,$9,786; net, after taxes,
EARNINGS -For cal. year 1921, gross, $274,467; net, after taxes.
$8,101. In 1920. net after taxes, def. $1,916.
$74,817. In 1920, gross, $291,621; net, after taxes, $78,155.
OEFICERS.-Pres.. Henry W. Wedel, Sec. and Treas., Kendall B
Property.-Operates 12.1 miles of street railway line in Rome, Ga., Incl.
Castle; Supt.. Geo. M. Wegrnan.-V. 87. p. 545; V. 88, p. 1314.
extensions to Lindale and Scales Works Standard gauge; 90-1b. girder
and 60 St 70-lb. T rails. Also complete and well-equipped electric lighting
eystem. Power plant has generating capacity of 1.750 k. w. (held In resROCK ISLAND, ILL.
erve). Has contract for power with Georgia Ky. & Power (Jo.
MISSISSIPPI VALLEY R Y. & POWER CO.
OFFICE RS.-Pres.. S. A. Culbertson; V.-P and Gen. Mgr., S. S. Bush
ORGAN IZATION.-Incorp. in Delaware July 1 1915 to take over the Louisville, ICY.; Supt., H. J. Arnold. Rome.
-V. 103. p. 146; V. 108, p. 172.
Rock Island Southern Hg., the Aledo Terminal Ry., the Rock Island Alexis
Ry and the. Edwards River Power Co (all formerly operated by the Rock
Island Southern Ry.), as per plan of readjustment in V. 101. p. 449. Under
ROSLYN, LONG ISLAND, N. Y.
the plan acquired all the corn. and pref. stocks of these companies anti
NEW YORK & NORTH SHORE TRACTION CO.
81.341.200 (out of 81,873,200) 1St M. bonds of the Rock Island Southern
Ry. and $415.01)0 Aledo Term Ry let M. bonds.
Receirership.-On Jan. 19 1921 Wm,Paul Allen and Jelin G. Moran were
Default-Interest Funding Plan.
-Being in need of at least $150.000 for appointed receivers for the co. by Federal Judge Chatfield In Brooklyn, as
the rehabilitation of the Rock Island Southern Ry, property, and finding it the result of an action In equity brought by the Citizens Say. & Trust Co..
inadvisable to sell additional prior Ben bonds in view of the unsettled firma Cleveland, trustee for the $800.000 let mtge. 5s of the co., Int. on which has
cial situation. the Miss Valley Ity. & Pow Co. entered into an agreement been in default since April 1 1919. V. 112. p. 372. Compare V. 110.
p 2292. 2658
with the holders of the 8532.000 Rock Island Southern ity bonds not owned
Sale.
-The property was bid In at public auction in July 1922 for 815.000
by which the time of payment of interest on those bonds and the bonds held
by the M. V R. & P Co will be extended for 3 years. The M. V. R & P. but the sale was not confirmed and property was to have boon again offered
Co. being without funds to pay the interest due July 1 1917 on Its let At ref for sale.
-V. 115, p. 1210. No further information.
5% bonds, holders of said bonds have been requested to exchange their
ORGANIZATION.-Incotporated In New York on Aug 8 1902 as th
coupons for the 3 years beginning July 1 1917 for bonds of the same Issue
Mineola Roslyn & Port Washington Traction Co.; name changed to present
par for par. The unissued Prior Lien bonds are to be canceled. For
Aug. 28 1907 by order of Supreme Court. In March 1912 Public
further details see V 105. p 607
Service Comm approved the making of a new mtge. and the
Sale of Collateral.
-The interest and principal due June 1 1917 on the 5800.000 bonds thereunder: also auth. the Issuance of $757,500issuance o
additional
1268.000 coll, trust notes of the R. 1. Southern Ry remaining unpaid, the stock (V. 94. t). 698; V. 93, p. 940). The new bonds were issued In April
$532,000 1st M 5% bonds of that company pledged as collateral, were 1914. part of the proceeds being used to retire the $350.000 let M. bonds
sold at foreclosure Aug. 27 1917, presumably to the committee for the note of 1907.
holders. Compare V 105, p. 607
--On June 26 1917 the P. 8. Comm., 2d Dist., authorized an
Fares,..
Sub.
-Co. Receivership.
-111 April 1920, Judge Martin J. Wade appointed Increaseln fare from
cts. between Mineola and Port Washington:
C. N. Abbott and C. H. Bacon receivers for the Rock Island Southern also granted increases10 to 15 other points on the lines in Nassau
between
County.
Ry. V. 110. p. 1642.
On Jan. 9 1918, the Public Service Commission for the First District denied
STOCK AND BONDS- Date.
Interest. Outstanding. Maturity the company's application for an increase in fare from 5 to 7 cents on Its
lines in Queens Borough. N. Y. City, holding that, Inasmuch as the co.
Common stock $2.500,000
82.291.060
obtained the consent of the City of New York to the use of city streets
Preferred stock $2.000.000_
1.079.524
Prior Lien bonds 1300.000 1st 1915
only by agreeing never to charge more than 5 cents as its rate of fare, the
5 J-J
abt.I75.000 See text
refunding mortgage ($100. 1915
5 J-J
abt.800.000 July 1 1941 Comm. has no power to authorize an increase fare unless rho city shall
nest waive or modify the limitation contained in its franchise contract
&c.).
_c4 Int. at Columbia Trust Co., N Y.. trustee
.
with the company
Rock Island Southern Ry.V 108. p. 298, 1127 Patrons of the line for a time
First mtge $2,500.000 g($100)J 1908
5 g J-J
1.873.200 Jan 1 1947 voluntarily contributed two cents in addition to the regular 5-cent fare,
In an effort to help keep the road operating On Aug. 28 1919 P. S. Corn8.500 and $1,000).
tf'Central Trust Co.. Chicago. trustee.
Voting Trust -The corn. and pref. stocks have been deposited in a voting missioner Nixon auth. a zone system providing for 4 zones with a 8
-cent
trust expiring In 1920 Trustees* Henri C. Morand, A. C.
:are in any single aane and an 11-cent fare for a
V. 109,
T. P. Gaylord, J. J. Fleming, J. A. Hanley, M. A. Walsh, C. H.Chambers, P• 888. A suit was begun in the Supreme Court continuous trip. to have
Walsh and
on Sept, 17 1019
Will H. Clark.
this order declared null and void. For further particulars see V. 109, p.1180
Bonds -Provision is made for the retirement of the prior lien bonds our On Oct. 27 1919 P. S Commissioner NIcon was served with a writ of cerof the sinking fund or by the sale of other bonds, the bonds taken in ex. tiorari, obtained by Corporation Counsel Burr from Justice Gavegan of the
change for the old securities then becoming an absolute first lien. Addi- Supreme Court, calling for a review of the above order. V. 109, p. 1700.
tional bonds may only be issued for betterments, extensions, arc., under Service, which for a short time had been suspended, was rammed about the
carefully guarded restrictions $1,341.200 of the R. I. Southern Ry, bond. middle of March 1920
V. 110. p. 1188 Operations however were shortly
are owned by the Miss. Vail R. & P. Co.
suspended again and no cars have been operated since. V. 111, p. 189.
Latest Earnings.
-For cal. year 1919. gross, $310,745; net, after taxes 896. 1183 1472.
Li1.092. In 1918 gross $321.069: net, after taxes. $54.352.
On March 23 1920 was auth. by the N. Y. P. S. Comm. to put into effect
-Runs north from Monmouth to a connection with the Chic
the following fare schedule: Between Port Washington and Mineola (four
ROAD.
Kock Island & Pac. Ry. at Monmouth Junction. 31 miles. and thence op
zones of 7c. each), 28 cents: City Line, Little Neck and Mineola (four zones
(vatting Into city of Rock Island, a distance of 22 miles, over line leased for 21 of 7c. each), through. 28 cents; Mineola terminus and IIicksville (2 zones of
years from C. R I & P. Ry which has been electrified Also 7 miles freer 8c. each). 16 cents. V. 110. p. 1528.
Gilchrist June. to Aledo. Total mile; of single track operated, 66.29. Has
Franchise Reroked-Afunicipal Operation Proposed.
-On Jan. 28 1021 the
connections for Dave-sport, Ia., Moline and Galesburg, III. 10 pass- 243 co.'s franchise was revoked by the N. Y. City Board of Estimate, the co.
freight, 2 express and freight and 7 work cars; 7 steam locomotives. 75-85_ having ceased operation of its lines in May 1920. V. 112, p. 853.
lb. rails. Also operates the power house located at Edwards River.
STOCK A N I) BONDS- Date,
Interest. Outstanatng. Maturife
OFFICERS -Pres., J. A. lianley, Davenport. Iowa, .-P., T. P. Stock $1.250.000 (3.50).
$
Gaylord, Pittsburgh: Sec., M. A. Walsh, Clinton, Ia.-V. 101. p. 449
First mtge $3,000,000 g($100.1 1914. 5 A-0
90 3
879
0:04 Apr 1 1954
V. 105, p. 607; V. 110, p. 1642.
$500 and $1.000)
c• tf Int at Citizens' Say. & Tr Co., Cloy- trust.
Bonds -Sinking fund created for property, which will revert to City of
New York, at expiration of franchises. Moneys may be used to retire
ROCKLAND, ME.
bonds or for acquisition of new property. Subject to call at 102 and Int.
at any Int. date. Edwin V. Hale, Cleveland, 0.. Is co-trustee.
MAINE RAILWAYS. LIGHT & POWER CO.
EARNINGS.
-For year ending June 30:
Formerly owned 86% of the total outstanding shares of the Knox County
Net (after
Other
Interest,
Electric Co. and entire corn. stock of Oxford Electric Co., but sold its hold
Balance,
YearGross.
Tares)
Income. Rente Ac.
ings to Central Maine Power Co. For history of Maine Rye., Lt. & Power
Sur.orDef
1917117
916 : 8
$160,591
521,348
39.358
Co. see this section for Oct. 30 1920.
$48.551
def.$17.847
8158,361
537.928
$1 .710
518.518
der.$8.882
Latest Earnings.-Por cal. year 1919. gross, $148.711. net, before taxes,
KNOX COUNTY ELECTRIC CO.
def., 52.181. In 1918, emotes. $151.859: net, before teepee $4,834.
Controlled by Central Maine Power Co.
ROAD.
-Road (none of which has boon operated since May 3 19201
In Feb. 1901 the Rockland Thomaston & Camden St. By. was consolidated with the Knox Gas & Electric Co. and a new mortgage for $800,000 extends from Flushing to Whitestone, and from Flushing through Baywas made from the proceeds of which the old bond issues of both companies side, Douglaston, Little Neck, Manhasset, Roslyn, Mineola and Westbury
were retired. The consolidated co. was operated under the name of the to Hicksville, with branch from Roslyn to l'ort Wasbington; total track,
Rockland Thomaston & Camden St. Ry. until April 11919, when the present 38.08 miles; 29.42 miles of road. Standard gauge; 70 and 103-1b. girder
title was adopted. V. 108. p. 2022. 88% of the stock is owned by the rail. Cars (motor, 19, other, 4), 23. Owns power station with two
Central Maine Power Co.
1,000 k. w. turbines.
-Receivers, Wm.Paul Allen and John 0. Moran.
We have been advised that the $800,000 1st Mtge. 4s due Jan. 1 1921
OFFICERS.
-V. 110.
were paid at maturity.
p• 970, 1188, 2292, 2658; V. 111, p. 189, 896, 1183, 1472; V. 112, p. 372.
Interest. Outstanding. Maturity. 653, 745; V. 115, p. 1210.
STOCK ANL) BONDS- Date.
Stock $400.000 ($100)$400,000
See text
Dividends.
-Are being paid quarterly at the rate of 5% per annum.
RUTLAND, VT.
-Operates 23.92 miles of track from Warren through Thoruaetor
ROAD.
RUTLAND RAILWAY. LIGHT & POWER CO.
to Rockland. Rockport and Camden. In Sept. 1901 purchased "Oak.
lands." a park of 75 acres, for a pleasure resort. 20 pass.. I express car.
$1 679,100 of the stock is owned by the General Gas & Electr.c Co.,
8 freight cars 4 work cars, 3 snow plows and 1 combination car.
which see in our •Ry. & Ind." Section.
-For year end. Dec. 31 1918, gross. $130.211; net, after
EARNINGS.
ORGANIZATION.
-Is a consolidation in Fob. 1906 of the Rutland
taxes, 860.578: other income, def., $502; deductions, 842,555; bal.. surp., Street Ky., the People's Gas Light Co.. the Vermont Internal Improvement
$18.521.
Co and the Chittenden Power Co. In Sept. 1906 acquired the entire
$180.000 stock and $120.000 bonds of the Rutland City Electric Co. V. 8.3,
OXFORD ELECTRIC CO.
p 626. In March 1908 consolidated with the latter compttuy, thus completing consolidation of all the Rutland public utisities. V. 86, p. 1044.
Controlled by Centre (Maine Power Co
Franchises have been granted by special Acts of Vermont Legislature and
ORGANIZATION -Chartered In Me. Nov. 14 1894 as the Norway &
are perpetual.
Paris St. Ky. (see this Section for Sept. 1918). Name changed to above
Fare Increase.
-In Nov. 1917 the Vermont P. S. Comm. auth an increase
Jan. 8 1918 and refinanced as shown btelow. On March 29 1918 acquired in fares from 5 to 6 cents for each zone. V. 105. p. 2(195. On May 20
1920,
the Mechanics Falls Elec. Lt. Co. Entire common stock owned by Central fares were raised to 7 eents easel and ticket. fares in proportion. V. 110,
Maine Power Co.
p• 2658. In July 1922 a reduction in fares amounting to about 25% was
Operates 2 13 miles of electric railway between Norway and Paris; 40-lb
effected. V. 115, p. 544.
T rail; standard gauge. Also does an electric light and power business.
Interest. Outstanding, Maturity.
Date,
STOCK AND BONDSInterest. Outstanding. Maturite
STOCK AND BONDS- Date.
Common stk $2,000,000($100) $1,700.51(0
$50.000
See text
Common stock $50.000 ($100)
Preferred stock
7%
30.000
110.600 Oct '22 15i
PreffIel non-cum$30.000 CS 100
e
,
)
1.928.000 Mch 1 1948
5 g M-S
175.000 Jan 1 193)1 First mortgage 52,000,0001 1906
First & ref mtge ($500 and f 1916
5 J & .1
c*ant at Lincoln Trust Co.. N. Y.. Trustee.
gold (51.000)
lint. at Union 8. D.& Tr. Co., Portland. Tr
$1.000)




ELECTRIC RAILWAYS

OCT., 1922.]

Bonds.
-Bonds are redeemable at 110 and int., as a whole or in amounts
of not less than $50.000. on any Int. day. Sinking fund began March 1
1916. providing for annual payments increasing from SS% to 2% of bonds
out.
-On pref. dirs. of 1%% quer. are being paid regularly. On
Dividends.
common. 1913. 4%; 1914. 3.35%; 1915. none; 1916. 234%. None since
EARNINGS.
-Year ending Dec. 31:
Gross.
Net, aft. Taxes.
Int.. <U. Bal., Suro.
Cal. Year3156.653
$59.067
$559.145
$97.586
1921
589.641
33,486
132,899
99,413
1920
-Owns and operates 28.3 miles of track in Rutland and West
ROAD.
Rutland, extending to Fair Haven and Poultney on New York State line.
Standard gauge. 60-lb. T rail. 32 passenger cars and 10 freight and
express cars.
OFFICERS.-Pres., W. S. Barstow; V.
-P., E. L. West; Gen. Mgr..
.7. 0. Menut: Treas., W Buchsbaum; Clerk & Asst. Treas., 0. H Lawson:
Asst. Treas . J P. Campbell; Asst. Clerk. 0. N. Wilson. Gen. Mgrs , The
-V.110.p 2658;V 111. p.589, 1084, 1662;
W.S. Barstow Mgt. Ascii. Inc.
V. 112, p. 258; V. 115, P. 544.

ST. ALBANS, VT.
-A trolley road.
ST. ALBANS & SWANTON TRACTION CO.
ORGAN!
ZATION.-Incorp. In May 1912 In Vermont as successor to the
St. Albans Street Ry., sold at foreclosure on Apr. 27 1912. Controls entire
street-railway business in St. Albans and Swanton. Charter permits the
carrying of baggage, express and mail; also the right to operate street railways In Franklin and Chittenden counties, Vermont. Stock authorized,
$200.000; outstanding, e125,000.
-On Dec. 9 1918 the City Council voted to release the co. from the
Fares.
-cent fare limit. V. 10.. p. 2477. In Oct. 1920, we were Informed that a
5
6-cent fare was then in force. In Jan. 1920 the city of St. Albans modified
the ca. 8 franchise relieving it from paying all paving obligations until net
earnings equal 5% of the P. U. Comm's. valuation of the property. V. 110
p. 360.
Operations Suspended.
-The road has been closed down since Nov.11 1921
xEARNINGS.-For calendar years:.
Gross.
Net aft. -Tax. Interest.
12 ides.$803
$5,230 Bai :427
i415 f
1919
335.115
4.030
3(1.323
1,253
191F1
2,777
z Not operated since Nov. 1921.
ROAD -Operates 13 mites of track from Village of St. Albans Bay. on
-lb
Lake Champlain, to City of St. Albans, and to Swanton. 60 and 70
rail.
Greenfield. Mass.; V.
-P.. Fuller C.
OFFiCERS.-Pres.. F. A. Persons.
Smith. St. Albans; Sec,& Gen Mgr.. A. W. Peterson, St. Albans; Treas.,
-V. 107. p. 2477; V. 110. p. 360.
David V. Carruth, Clinton. Mass.

ST. LOUIS, MO.
UNITED RAILWAYS CO. OF ST. LOUIS.
Is controlled by North American Co. of New York.
Receirership.-On April 12 1919 Judge Dyer in the U. S. Dist. Court
at St. Louis appointed Rolla Wells receiver for the co on petition of Samuel
W. Adler of N Y., the co. Joining in the prayer for receivership. The co.'s
inability to repay the 6 mos, loan of $3.235.000 made to It by the War
Finance Corp. on June 1 1918 was the cause of the appointment. V. 108
,
1611 (the has since been paid). On April 24 1919 the receivership suits
instituted by Samuel W Adler and Elmer A. and Robt. J. McLaughlin
F
were consolidated under the John W. Seaman suit by Judge Dyer In the
U. S. Din. Court and Rolla Wells who had been automaticalls removed as
receiver In the order making the Samuel W. Adler suit an istervening one to
the Seaman suit was appointed receiver under the consolidated suits. and
Henry Lamm was reappointed as Special Master to conduct the hearings
V. 108, p. 1823. 2331. Compare V. 106. p. 716* V. 107. p. 907; V 108
p. 81, 1513; V. 110. p. 2488; V 111, p. 2326; V.112, p. 1026:V. 113. p. 961.
subsidiary Companies Rreeiverships.-In Sept. 1919 Rena Wells was appointed receiver of the Missouri Eiectric Ry , the Florissant Construction.
Real Estate & investment Co. and the Merchant's Express Co subsidiaries. on application of Thomas Francis. attorney for the United Rys.
also V. 113. p. 1252.
Co. V. 109. p. 1368e See .
In Nov. 1920 $4,200,000 3 year 7% receiver's certificates were issued to
provide or the payment of $1.900,000 St. Louis RR. 4% bonds which
fell due May 1 1920 and to reimburse the receiver for funds used to retire
$2300.000 receiver's certificates due Sept. 2 1920. V. ill. p. 2141
In July 1921 the receiver's application for authority to issue $1.474,000
receiver's certifs. to be used in retiring the 31.474.000 Lindell Ky. 4 Sis. due
V. 113. p. 418. Compare V. 113. p. 72. In
Aug. I 1921. was denied
Aug. 1921, however, the receiver offered to extend the Lindell Ry. bonds to
Oct. 1 1923 at 8%. This extension was underwritten by the North American Co. V. 113. p 536.
The receiver was auth. to extend the 12.000.000 St. Louis & Suburban
,
cons. mtge.5 due Feb. I 1921 for 3 years at 8%. The extension was carried
out after some delay, the extended bonds bearing 8% interest from June 1
1922 and m ituring 0.A. I 1923. Holders who did not desire to extend their
bonds received cash upon presentation, interest on this issue accruing at
5% up to Juno 1 1922. V. 114. p. 2360. 2728.
Holders of $1.610,000 Cass Ave. & Fairgrounds Ry. 1st mtge. extended
4% bonds due July 1 1922, were given the right to extend their bonds to
Oct. 1 1923 at 6%. The extension was underwritten by the North American Co. V.115, p.75.
The Jan. 1 and July 1 1920 coupons on the Gen. Mtge. 4% bonds were
paid when due. Int. due Oct. 1 1920 on the St. Louis Transit 5s of 1924
and the St. Louts Suburban 5v of 1923 was paid when due V 111. n 1662
See also V.113. p.1252. Interest due April land Oct. 1 1921 and April 1
1922 on the latter issue was not paid until May or June 1922. V. 114, p.
2242.
Reorganization.
-In Sept. 1922 it. was reported that a tentative plan for
the reorganization of the company was expected to be taken up in the
near future. V. 115. p. 1531.
ORGANIZATION .-Incorporated in Missouri on March 11 1898 as the
Central Traction Co., but changed its name to above on July 10 1899
On Dec. 31 l906 absorbed the St. Louts & Suburban Ry. giving its pref.
stock, share for share for the stock of that company. The United itys.
guarantees the 81.500.000 gen. mtge. bonds of the St. L. & Sub. Ry. See
.V 83. p. 39. V. 81, p. 105. In 1908 acquired a controlling interest on the
Missouri Electric Co.. successor to the St. Louis St. Charles & Western
RR.. which was sold at foreclosure in July 1905.
The Unite(' Rye. Co. comprises all the street car lines in operation In fit.
Louis. The co. was originally leased to the St.. Louis Tran Co., but under
a readjustment arranged In Oct 1904 by Messrs. Brown Bros. & Co.
(V. 79. p. 1333) the lease was canceled and the $17,264.300 stock of that
company nearly all exchanged for voting trustees' certificates for common
stock of the United Rye. Co. on the bases of $500 Transit stock for $200
voting trustees certificates. Voting trust has expired and common stock
has been issued for trust certificates.
Under this plan the 320.0(10.000 refund. and inset. mtge, bonds of the
St. L01110 Transit Co , of which 43.000.0(10 h is been Issued, were canceled.
and In their place the same eornpany Issued 410.000.000 of 5% improvement
bonds guar. by the United Rye Co. of St. Louis. this guaranty being se
Cured by a mortgage on all of that company's property next In rank to that
These improvement bonds are now the only outstandof its general nesse
ing security of the Transit Co
-Power is purchased from the Union Electric Light & Power Co.
Power.
and the Electric Co of Missouri isuccessor to the Miss River Power Distributing Co.). See V. 1 1 1, p. 1662; also V. 112. p. 2529.
-The U S Suprine Court on April 10 1916 dismissed
hi( Tax Decision.
the coinpanyse appeal from the decision In the Missouri courts which upheld
the ordinance by which the city collects a tax of one mill On each paesetigi3r
fare. V. 94, p. 418. V. 95. p. 1124. V. 99, p 1053. V. 100. p. 400. V. 102.
the 31.839.205 Judgment
IL 1437. On June le 1916 the co. paid In full with interest. On Jan 11
Obtained by the city for taxes from 1903 to 1910
1919 the on formally ecknowiedged its responsibility for the 32.50(1 001)
mill tax which It owes the city which will be paid off In ten annual Installments with Interest, and in the future the co. agrees to pay this tax without
contest. The city In turn will not contest the franchise of any of the co 's
branch limes In St. Louis and agreed to dismiss its appeal in the Jefferson
Ave. franchise case. V. 108. p. 270. A formal agreement to this effect was
signed on Jan. 15 1919. V. 108. is. 380. 481; see also V. 112. is. 2529.
-V. 113. P. 1889.
Rapid Transit System. C4c.. Proposed.




125

Franchise Ordinance.
-After much delay and many amendments, an
ordinance was passed by the Municipal Assembly on March 29 1918 and
signed by the Mayor on April 10 1918 for principal features of ordinance
see this Section for Sept. 1918). On Oct. 4 1918, however, the co. notified
the city that it (the co.I did not deem It advisable to accept. the measure
because of various objectionable features embodied therein. The chief
factor against its acceptance was that e fair return on the co.'s investment
was not assured. V. 107. v. 1482. Compare V. 1(16. p. 1908.
Various protective committees have been formed as shown below:
Preferred Stockholders Commatee.-L. H. McHenry, Chairman, Louisville. Ky.; A. J. Scharf, Secretary, U. S. Trust Bldg., Louisville, Ky.-V. 103. p. 2239.
'Committee for First Gen. 4tge. 4s.-Breckinridge Jones. David R. Francis Jr., Allen 0. Hoyt. A. H. Se Post, F. II. Eeker arid H. B. Collins. with
Hord Hardin as Secretary, N. W. corner 4th and Pine Sts., St. Louis. Mo.
Depositaries: Mississippi Valley Trust Co.. St. Louis; Farmers Loan &
Trust Co. of N. Y.; Mercantile Tr. & Dep. Co.. Baltimore; Girard Trust
Co.. Phila. V. 105. p. 181; V. 106. p. 1578.
•A second committee representing holders uf the 1st Gen. M. 4s has been
ormed. consisting of N. A. McMillan. Pres. St. Louis Union Bank. Chair.
(man; Edward Mallinckrodt, M. Kotany, J. Herdnon Smith and Edwin G.
Merrill, all of St. Louis, Mo. Depositaries: St. Louts Union Trust Co.,
St. Louis, and the Union Trust Co. N. Y., sub-depositary Brown, Shipley
& Co., London. V. 105. p. 291. 717: V. 106. p 1578. V 107 p. 697.
Committec for St. Louts Transit Impt. 5s.-EdwIn M. Buikiey, N. Y.,
Chairman; Edwards Whitaker, St. Louis, Vice Chairman' F. J. Lisman,
N. Y.; Charles S. Ludlam, N. Y.; George L. Edwards, St Louis: W. Lorne
Scovil, 25 Broad St., N. Y., Sec y. Depositaries. Mercantile Trust Co..
St. Louis and Bankers Trust Cu., N. Y
V. 105, p. 181; V. 106. p. 1578.
Deposits have been called for V. 108, p. 1611. 2434.
A second committee representing holders of the St. Louis Transit Impt.
58 has been formed, consisting of Chairman, Wm. P. Oest; i.e Roy W.
Bainwln, Oscar Fenley, Iiarrison Nesbit, J. C. Van Riper. Secy., T. Homer
Atherton, corner Broad and Chestnut Sts., Phila. Depositaries. Empire
Trust Co., N. Y.; sub-depositaries, Fidelity Trust Co., Phila.. American
Trust Co., St. Louis, and Fidelity & Columbia Trust Co.. Loulevine, Ky.
Deposits have been called for. V. 108, p. 1722.
-Herman O. Sigel, ChairCommittee for $t. L. & Sub. Ry. Oen. dtge. 5s.
man, Pres. Stifel-Nicolaus Investment Co.; A. 0. F. Meyer, Sidney H.
March, N. Y.; William G. Lackey, John L. Johnston. Secy., Oscar H.
wihbIng, 207 N. Sway., St. Louis. Depositaries Mississippi Valley Trust
Co. of St. Louts and New York Trust Co., N. Y. Deposits have been called
for. V. 108. p. 1611. Compare V. 105. p. 291.
Committee for St. L. ct. Sun. Ry. Cons. Mtge. 5s.
-Chairman, Merck C.
Steinberg; Edw. Barklage, Chas. W. Moore. August H. Heiler, Francis P.
Sears, !tarry F. SHE Sec., Joseph D. Halloran, 201 Boatmen's Batik Bldg..
St. Louis. Depositaries, Liberty Central Trust Co., St. Louis, and American Trust Co., Boston. Deposits have been called for. V. 112. p. 2307;
V. 113. p. 1774.
• These two committees in April 1919 announced that in the future they
would work together. V. 108. v. 1611.
Valuaiton.-For appraisal as of Dec. 31 1917 made for city of St. Louis
by J. E. Allison showing a total reproduction cost of $72,589.141. See
Vaiuntion by Mo. P S. Comm.
V. 106,l. 1578. See also V. 111. p. 494
will be found in V. 112, p. 259, 933. Compare company's valuation in
V. 115, p. 1531.
In May 1916 the Mo. P. S. Comm. auth. the St. Louis & Suburban By.
to issue $1 000.000 Gen. M. 55 of 1903 to take up and pledge under that
mortgage the $1.000,000 bonds issued by the St. Louis & Meratnac Ry. Co.
for refunding its $1.000,000 1st M. 6s, which fell. due May 8 1916. The
81.000,000 St. L. & Sub, bonds are held in the United Co.'s treasury for
future use. V. 102. p. 2255. The 3200.000 Southern Electric 5s maturing
Aug. 11916. were paid off and a like amount of United Rya. 4s were issued
and placed in treasury.
Dectsirms.-On Feb. 26 1917 the Missouri Supreme Court held that the
P. S. Comm. had no auth. to compel the company to extend its tracks on
streets on which it held no franchises.
Also held void two sections of the
city charter conferring upon the city the power to regulate its public utilities.
-In May 1918 was auth. by the Mo. P. S. Comm. to
Fare Increase.
increase adult fares to 6 cents effective June 1 1918. At the end of 1 year
the co. must show cause for making the new rate permanent. (The co. was
auth. to extend the 6
-cent fare rate, and, effective Sept. 20 1919, was
authorized to Increase fares to 8 cents for a period of six months). In
connection with this the Mo. P. S. Comm. In Feb. 1919 ordered a valuation
of the co's property to be completed by June 1 1919. V. 108, p. 581. In
granting this increase the Comm. held that municipal franchises do not constitute irrevocable contracts, leaving States without power to regulate rates.
In spite of a constitutional-consent clause in Mo. the Comm. held that it was
their duty under the law to examine the facts and fix Just and reasonable
rates notwithstanding franchise terms; and as the existing rates were not
sufficient to permit adequate service, public interest and welfare demanded
an Increase of rates. V. 106. p. 2346. A motion by the City Council for a
rehearing in the case was overruled by the Comm. on May 27 1918. See
V. 106, p. 2451. In June 1918 the City Council filed an appeal from the
decision. V. 106. p. 2759. On Aug. 31 1918 Judge J. G. Slate in the Cole
County Circuit Court held that the Comm. was without Jurisdiction to
pass upon the far question and that the 6-cent fare was therefore null and
void. Chief Justice Bond of the Missouri Supreme Court authorized the
company to issue a negotiable receipt for 1 cent pending the final decision
by the Missouri Supreme Court, which was handed down on Dec. 16 1918,
and which sustained the power of the P. S. Cotnrn. to alter street railway
fares prescribed by franchise, thus validating the 6-cent fare. V. 107, p.
2377. 2478. The city's motion for a rehearing was overruled by the Missouri Supreme Court. V. 10g, p. 81. The company was auth. to extend
the 6-cent fare rate, and, effective Sept. 20 1919 was auth. to charge an
8-cent fare for six months. For further details of schedule, see V. 109. p.
1181. 1274. Effective April 10 1920 fares were reduced from 8 cents
to 7 eents straight
V 110. p. 1643, 1850. See aieo in V 112. p. 63,2750.
V. 113, p. 2186. In July 1922 the company was authorized to continue the
-cent fare until Dec. 31 1922. V. 115, p. 546.
7
-See V. 109, p. 578
Reorganization Outlook.
STOCK AND BONDSInterest. Outstanding. Mate/int
Date.
Stock corn $25.000.000 ($100).
$24,913,800
Stock preferred 5% cumul
16.383 000
820 000.000 3100)
5 Q-.7
See text
Receiver's certificates Series 1920
7 g A-0
4.200.000 Oct 1 1928
Int. at Guaranty Trust Co., New York, and
"A" ($1,000)
First Nat. Bank. St. Louis.
Gen 1st mtge $42,000.000 1899
4 g J-J
30.300.000 July 1 1934
c*ef int. at St. Louis Union Trust Co., Trustee.
(31.000) gold
Cannot be called.
J or at Bankers Trust Co , New York.
improvement bonds golds 1904
5 g A-0
9,790.000 Oct 1 1924
($1.000) St Louis Transit lint, at Metcantile Tr, Co., St, Louis, Trus..
Co.
esti f or at Bankers Trust Co.. New York.
-Of the 820.000.000 authorized preferred stock, $3,Stocks and Bonds.
603.500 Is held In the treasury. $800 common stock is atso hold in the
treasury. Preferred was listed on the New York Stock Exchange on
June 1 1905. Of the 345,000.000 general first mortgage bonds originally
authorized $3.000.000, which had been previously reserved for the purpose of retiring bonds of the St. Louis & Suburban S%stem. In case of
purchase, have been canceled, making the total authorized issue now
342.000.000, of which $9.768,000 are reserved for the retirement of undertying liens. In Aug. 1919 31.932.000 bonds of this issue which wereowned
by the co. were ordered canceled by the Federal Court. V Ill. p. 787.
The bonds are secured by all the stocks of the constituent companies, and
by direct mortgage lien upon their property and franchises. In 1903 the genmtge bonds were listed on the N.Y. and Philadelphia stock exchanges (flee
V. 76. p. 980: V. 89, p. 995), and in April 1906 the St Louts Transit Co.
Impt. bonds were listed on the New York Stock Exchange. The impt.
bonds are guar., p. & L. by the United Rys. Co.
Recetver's Certificates.
-The certfe. rank prior to the 1630.300.000 1st Gen.
M. 4s and to $9.790,000 Junior bonds. Additional eertfs. may be issued to
retire three issues of divisional bonds, aggregating $4.100,000, under certain restrictions. Red. on any Int, date upon 4 weeks' notice at 101 SS and
tam n restrictions. Red. on any int, date upon four weeks' notice at 100)4
and int. on April 11923. V. 111, p. 2141.
BOND ISSUES OF CONSTITUENT COMPANIES.
Lindell SystemDate.
Interest. Outstanding. Mfaturtta.
Lindell Ry 1st M 31.500.000 1891
8g F-A
31,474.000 Ost 1 1928
gold ($1.000)
c•Szrntf Interest payable in New York and St. Louis.
Comp'n H 13 D & M T lst M 1893
5 g J-J
986,000 July 11923
($1.000) g (extend'd)eat Int. at St. Louis Un. Ti,, Oo., Trustee.

126

ELECTRIC RAILWAYS

National System—
Cass Ave & Pair Grounds 1s1 1892
1,640,000 Oct. 1 1923
6 g J-3
extended M 12,000,000 g Int. at Northern Trust Co., Chicago, true
($1,000) sinking fund guar
and St. Louis Union Trust Co., St. Louis.
prin & int (Nat,Ry)_ _c*n tfj
Sr. Louis & Sub. System—
St. Louis & Suburban cons MI 1891
-A
2.000,000 Oct. 1 1923
8g F
12.000.000g ($1.000) c5 ntfllnterest at Amer. Trust Co.. Boston, True
St L & Sub gen surge $7.500,-1 1903
5 g A-0
4.500,000 April 1 1921i
000 gold (81.000) guar c*tt lint. at Miss. Val. Tr. Co., St: Louis, Trustee
Of the St. Louis & Suburban Ry. general mortgage for $7.500,000
12.000.000 are reserved to retire prior liens. V. 76, p. 332. The St
Louis & Meraniac River In April 1903 made a mortgage securing $3,000,000
bonds, all of which have been deposited with the trustees as additional
security under the St. Louis & Suburban general mortgage of 1903
The St. Louis & Suburban cons. mtge. bonds were originally 5s and matured
Feb. 11921, but were extended to Oct. 1 1923 at 8%. Are red. as a whole
on any int. date on four weeks' notice at 101 and int. V. 114, p.2360,2718.
The Linden Hy. 1st mtge. were originally 5% bonds maturing Aug. 1 1911;
but were extended 10 years to Aug. 1 1921 at 44%. V. 93, pi. 106. In
Aug 1921 this issue was again extended, this time to Oct. 1 1923, at 874.
Prin. and in guar. by United Rys. Co. V. 113, p. 536. Cass Ave. &
Fair Grounds let M. were originally 5s maturing July 1, 1912. but they were
extended for 10 years at 4% %
and again at 6% to Oct. 11923. V. 115.
p.75. $360,000 have been redeemed. V.94, p. 913, 1509, 1764. Comp'n
Heights Un. Dep. & Mer. Term. 1st M. were originally 6s, due July 1
1913, but were extended 10 years at 5%. V. 96, p. 1774. Redeemable
at 102% and int. on 60 days notice; principal and interest guaranteed by
United Railways, St. Louis Union Trust Co., trustee.
Dividends.—First dly., of 13s % on pref.. April 10 1900 and the same
amount attar. to July 10 1910, incl.; none since. V.91, p. 718; V.93,P. 591
ROAD.—On Dec. 31 1921 owned total of 460.78 miles of track (Including
the St. Louis & Suburban), of which 345.23 m. are in the city and 115.65
miles are couuty track.
EQUIPMENT.—Has 1,536 passenger cars, 4 speciai cars, 3 express cars.
7 snowplows anti 35 snow-sweepers. 3 electric locomotives ante 163 service
cars of various kinds. Total. 1,751.
REPORT.
1919.
1921.
1920.
1918.
Revenue pass. carried_ _282,4,
17.190 287,405.837 263,221,899 245,876,910
Transfer passengers_ __ _150,562,354 154,464,735 145,788,430 131,108.817
Gross earnings
$19.658,551 $20.267,730 $16,592,680 113,639.618
DeductOper. expenses_613.593.218 $13,647,918 $11,533,460 $9,126.513
Depreciation
1.500,000
1,626.888
1,659,268
1,636.754
Taxes
1,437,336
1,675.697
1,110,911
852.476
Net earnings
32,889.635 $3,555.587 12.289.041 12.023.875
Other Income
145.856
5216.350
106.442
116,698
Total net Income
$3.105,985 $3,701.443 12.395,483 52.140.573
Interest on bonds, &c_ _ _ $2.802.940
2.618.014
2.661.263
2.510.872
Surplus
$303,045 $1,083,428 def$265,780 dorsi too 299
OFFICERS.—Receiver, Rolla Wells; Gen. Mgr. for Receiver, Albert T.
Perkins.
Corporate Officials.—Pres., A. L. Shapleigh; V.
-P., Murray Carleton;
Sec. & Treas., James Adkins; Asst. Treas., Frank A. Gannon and W. R.
Moynihan; Aud., H. S. Priest. Directors: J. I. Beggs, Murray Carleton,
H. S. Priest, R. L. Warner, A. C. Brown, A. L. Shapleigh, F. 0. Watts,
A. J. Seigel, John F. Dulles and J. K. Newman.—V. 112, p. 1026, 1145,
1868, 23)7, 2529, 2750; V. 113, p. 72,418,536. 961, 1252, 1676, 1774, 1889,
2186; V. 114, p. 411, 523, 1768, 2242, 2361, 2577, 2719; V. 115, p. 75, 546,
989, 1534.
(1) Missouri Electric RR.
Controlled by United Rya. Co. of St. Louie.
Receivership.—See United Railways Co. above.
ORGANIZATION.—Incorporated in July 1908 In Missouri and took
over property of St. Louis St. Charles & Western RR., sold at foreclosure
sale July 24 1905, on behalf of a syndicate. Stock, $1,000.000, all out
standing. A $1.000.000 mtge. has been made to Mercantile Trust Co. of
St. Louis, as trustee, of which $700,000 are outstanding. Company operates about 20 miles of track between St. Louis and St. Charles. Gauge
4 ft. 10 in. 60 and 70
-lb. T and girder rail. Pres., Richard McCulloch.—
V. 87. p. 226. 480, 1366.
ST. LOUIS & ST. CHARLES BRIDGE CO.
ORGAN1ZATION.—Incorporated on Dec. 22 1908 as successor to the
at. Charles & St. Louis County Bridge Co., whose property was bid In at
foreclosure sale on Feb. 29 1908, for the bondholders, at $300.000. V. 86
p. 669. The Missouri Electric pays the Bridge Co.5 cts.for each passenger
crossing the bridge.
STOCK AND BONDS—
Date, Interest. Outstanding. daturity
Stock $300.000 ($100)_
$300.000
let mortgage $300,000 (*500)1 1909
5 g 3-3
285,000 Jan 1 1929
gold
cs fAmerican Trust Co.. trustee.
Bonds.—Subject to call at 105.
PROPERTY.—Bridge across Missouri River 2.700 ft. long, betwees
City of St. Charles and St. Louis County, was opened April 22 1904.
OFFICE RS.—Pres., C. D. Bolin; Sec. & Treas.. W. V. Delahunt.—
V. 86, p. 669; V. 87, P. 227; V. 88. D. 56.

SALT LAKE CITY, UTAH
UTAH POWER & LIGHT CO.
Controlled through ownership of all the outstanding common and 2d pref
stocks, campt directors' shares, by -the Utah Securities Corporation, which
see in our "Railway and Industrial" Section.
ORGANIZATION.—Incorp. in Maine Sept.6 1912. Charter unlimited.
Owns all the bonds and capital stock, except directors' shares, of Western
Colo. Power Co. and all the stock, except directors' shares, of Utah Lt. &
Trac. Co. Leases for 99 years from Jan. 1 1915 the elec. light and power and
gas properties of the latter and guarantees prin. and int. its $12.151.000
outstanding let & ref. 5s, due 1944 and $1,401,000 1st mtge coll. 8% bonds.
With its controlled cos. operates in an extensive territory in Utah, Southeastern Idaho and Southwestern Colorado, serving more than 153 communities, including Salt Lake City, Ogden, Provo, Logan, Park City,. American
Fork, Eureka., Bingham and Lehi, Utah; Idaho Falls, Rexburg, Preston and
Montpelier, Idaho, and Durango, Telluride, Montrose, Ouray and Delta
Colo.; total population served estimated at 336,500. Supplies power to the
Bamberger Electric RR. Co., Salt Lake & Utah RR., the Utah-Idaho
Central RR., and Salt Lake Garfield & Western RR. Co., and numerous
Industrial enterprises.
Franchises are satisfactory. In Salt Lake City franchise extends ts
1955; in Ogden to 1965; Provo, 1940: Logan, 1936; Bingham, 1953. Lehi
1962, and In Preston, 1956. Other less Important franchises expire at
various dates.
Favorable Rate Decision.—See V. 111, p. 1662: V. 112, p. 933, 1145. 2191
V. 113, p. 850, 1157; V. 114, p. 739.
Rate Increase.—Effective Mar. 24 1921 the P. U Comm. auth. a genera
Increase in piower rates. V. 112, p. 1145. See also V. 113, p. 1157
In Oct. 1916 the auth. amount of common stock wee Increiesen from $30
000.000 to $35,000,000 1st pref. stock from $5,000,000 to $15.ot eel esi and
of 2d pref. from $5,000.000 to $10,000.000. V 103. p. 1597.
In May 1922 the co. brought out 165,000,000 6% debentures dated May 1
1922, proceeds of which together with proceeds of the sale of $1,000,000
7% pref. stock were applied to the retirement of floating debt and for other
corporate purposes. V. 114, p. 2014.
Date.
Interest. Outstanding. Mewl's
STOCK AND BONDS—
$30,000,000 _ _
_
Common stock ($35,000,000)_
11,957.400 Oct .22;lk
Q-J
Prefstock 7% cum 415.000.000)--3,099.000
pref stock ($10,000,000)2d
5 g F-A
26,847,000 Feb 1 194.4
let mtge 4100,000,000) gold1 1914
c*&rjOuaranty Trust Co.. N. 1., trustee.
($1,000)
656.0
00 May 1 1926
($1,000) 1920 7 g M-N
First lien & gen mtge
c*SflGuaranty Trust Co.. New York. trustee.
gold)
500.000 .Jan 1 1941
7 g J-J
1921
due 1941"
Series of "7s
2,000.000 Feb. 1 1944
6 gF-A
1921
Series of "68 due 1944"
5,000,000 May 1 2022
($106
Deb. bonds, ser. "A"_.-- - ,i 1922 6 g M-N
$500 & $1,000 c* and $1,000lCentral Union Trust Co., Trustee. •
tfj
& $5,000 r*) gold




[VoL. 115.

Stock.
-77 cumulative preferred stock Is redeemable at 115 and accrued
0
dividends. The second preferred stock as a whole or in part may cease
to be subordinate to the preferred stock upon vote of the directors, whenever net earnings for twelve consecutive months within the fourteen months
immediately preceding any application are 24 tImee the div. requirements
on the pref. stock then outstanding, and the additional pref. stock to be
Issued in exchange for the 2d pref. stock. $4,738,000 of the 2d pref. seek
had been exchanged for the first pref. stock as of Oct. 1 1922.
Bonds.—$1,156,000 first mortgage 5s are pledged as security for the
first lien and general mortgage 7s (both issues); $2.000,000 are pledged
under the 1st lien & gen. mtge.6s,due 1944,leavi $23,691,000 outstanding
In hands of public. Remaining bonds may be issued at par only for 80% of
cost of permanent impts., extens. or additions when annual net earns, are
twice the int. on bonds outstanding and those proposed to be Issued. Redeemable at 105 and interest on any interest date on 4 weeks' notice. Sinking fund began Dec. 31 1916 as follows: 1916 to 1918, 1% of bonds out;
1919 to 1933, 2%; 1934 to 1943, 23%. Listed on N. Y. Stock Exchange.
V. 109, p. 688. The let lien & gen. M.series "7s due 1925" are secured by
sprfe of .ati02anci.tanici.ayi2;at1
ttere
blocks
$656,000 let g5
Are redeemables41 weeks'
of
and mt.
sfter to and incl. May 1 1924, and at 100% and int. thereafter. V. 110.
p. 1850. The 1st lien & gen. M. ser. "7s due 1941" are secured by pledge
sf $500,000 let Mtge. 58. Red. on 4 weeks' notice in blocks of not less than
$250,000. at 107% and int, to and incl. Jan. 11924: at 105 and int. to and
-ncl. Jan. 1 1931; and at a premium or
ess each year thereafter to
maturity. V. 112, p. 478. The first lien and gen. Mtge. serial "6s, due
1944," are secured by a pledge of 32,000,000 1st Mtge. 5.s. Are redeemable
on four weeks' notice in blocks of not less than $250,000 at 105 and int. to
and incl. Feb. 11927; at 104 and int, thereafter to and incl. Feb. 11932; at
103 and int. thereafter to and incl. Feb. 11937;and thereafter at a premium
decreasing each year to 1003 and int. during the last year prior to maturity.
V. 113, p. 2081. The 6% debenture bonds, ser. "A" are red. after May 1
1947 and up to and incl. Oct. 31 2016 all or part at any time on 60 days'
notice at 110 and int.; thereafter at par and int. Penna. 4 mills tax
'
refunded. V. 114, p. 2014.
Dividends.
-7% Is being paid on 1st pref. stock.
De. 3
EARNINGS.—For years ending Dec.31 (incl. Western Colo.Power Co.):
Gross
Net (after
Other Bond Int. Other Int. Balance,
Year— Earnings. Taxes).
(Net).
Surplus.
Inc.
& Disci.
1921__ - _$6,746,642 $3,244,005 $133,135 $1.277,845 $440.896 $1,658,399
1920.._6,730.849 3,131,401 148,311 1.211,970 493.641 1,574,101
Latest Earnings.—For years ending June 30:
1921-22 _$8,477,160 $4,151,335 $109,813 $2,205,799 $377:923 $1,677,426
1920-21 - 8,787,397 4,164,783 114,124 2,028,315 459,978 1,790,614
PROPERTY. &c.—Generating capacity. hydro-electric. 137.987 k.w.;
steam, 17,637 k.w.; additional installations of 17,637 k.w. capacity under
construction. Physical property includes 2.214 miles of high-voltage transmission tower and pole lines and 1,805 miles of electric distributing lines;
gas-holder capacity, 240,000 cu. ft.; gas mains, 42 miles. Customers.
80,633 k. w. generating station output, 12 mos. ending Dec. 31 1921,
362,908.022; artificial gas output, 97,202.000 cu. ft.
OFFICERS.—Chairman of the Board, S. Z. Mitchell; Pres., L. Han-P. & Gen. Mgr., S. R. Inch; Sec. &
chett; V.
-P., 0. E. Groesbeck; V.
Treas., Geo. B. Thomas.—V. 112, p. 2750; V. 113, p. 850,S59,962, 1157,
2081; V. 114, p. 739, 2014, 2361; V. 115, p. 184, 1322, 1430, 1533.
(1) Utah Light & Traction Co.
ORGANIZATION.—lncorporated under the laws of Utah, Sept. 18
1914. The company is a consolidation of the Utah Light & Railway Co.,
and the Salt Lake Light & Trac. Co. (see those companies on page 116 of
the Sept. 1914 "Electric Ry. Section"). The Utah Power & Light Co.
owns all the stock of this company except directors shares and has leased
for 99 years from Jan. 1 1915 the electric light and power and gas properties,
leaving only the traction property to be directly operated. V. 100. p.
734. Franchise In Salt Lake City expires In 1955,
Valuatzon.—In Feb. 1920 the Uteri P. U. Comm. placed a value of $13,468,278 on that part of the co.'s property used in its street railway business.
Fare Increase. In July 1929 the Utah P. S. Comm. auth. the co to.
Increase cash fares from 6 cents to 7 cents and commutation tickets to 4 for
25 cents. V. 111, p. 494. See also V. 115, P. 75.
Fare Decision.—V. 111, P. 5 .'
89
$1,401.000 Consol. Ry.& Power 1st Mtge. 5s, due July 1 1921, were paid
off at maturity but are kept alive and pledged under the $1,401,000 1st
mtge. coll. 8s. V. 113, p. 72. In connection therewith $1,401,000 Utah
Lt. & Trac. 1st mtge. coil. 8% bonds, due 1934, were sold. V. 113, p. 961.
Interest. Outstanding. Maturity.
STOCK AND BONDS— Date.
11.150,875
Capital stock $10.000.000--5 g A-0
12,471,300 Oct. 1 1944
First & ref. M (auth amt un-{ 1914
($1,000, $500 and Int. at 71 Bway. Bankers Trust Co., New
limited)
York, Trustee.
$100)red at 105&int g s Lc*
8 g J-J 1
1,401,000 Jan 1 1934
let M coil bonds, $1,401,000 1921
($500 and $1,000)old_c*tf U. S. Mortgage & Trust Co., trustee.
486.000 Jan 2 1934
Utah L. & Ry. con.14,$10,- 1904
5g
000,000 gold ($1.000)___c* Int. at 71 Bway., N. Y. Equitable Trust
Co., N. Y., Trustee.
U
746,000 Jan 1 1930
Utah Lt.& P.Prior Lien
5 g J-J
1900
8750.000 g ($1,000)___c*tf Int. at 71 Bway. Central Union Trust Co.,
N. Y., Trustee.
1.113.000 Jan 1 1930
Utah Lt. & Power con M 84,-I 1900
4 g J-J
c*tfi Int. at 71 Bway. Equitable Trust Co..
500.000 g ($500)
I N. Y., Trustee.
Bands.—Sufficient 1st & ref bonds of 1914 are reserved to provide for
underlying liens (all closed issues). $300 incl. in amt. outstanding
owned by Utah Power & Lt. Co. Present Issue known as Series"A" bonds.
Guaranteed, principal and interest, by Utah Power & Light Company.
Sinking fund of 1% of outstanding bonds from 1917 to 1919; 2% 1920 to
1934; 2% 17 1935 to 1943. Sinking fund may be used to redeem bonds at
0
not more than 105 or to reimburse the on. for cash cost of additional properties, &c. The 1st Mtge. coll. 8s, In addition to being a lien on certain
properties (see V. 113, p. 961), are secured by a pledge of 81,401,000 Utah
Light & Ry.cons. M.5s; are also guar., prin. & int., by Utah Power & Light
Co. Not subject to call prior to Jan. 1 1927; thereafter redeemable, all or
part, on 30 days' notice, as follows: during 1927 at 106; during 1928 at 105,
during 1929 at 104, during 1930 at 1034, during 1931 at 103, during 1932
at 1023. during 1933 at 102. Interest payable In Chicago or New York,
Pennsylvania 4 mills tax refunded. V. 113. p. 961.
Other Int. Chgs.,
Net, after
Gross.
Def
Sur
El.AyReaNrI—
NGS.
Income.
etc.
Taxes.
Earnings.
Cal—
*2.048,980 $453,688 $398.931 S855,731 def. $3,112
1921
580.200
401,748 824.422 sur.157.526
2,069,483
1920
Latest Earnings.—For years ending July 31:
$1,9b9,223 $481,059 *387,780 $885,819 def.$16,380
19h1--524,363
404,844
2,151,815
832,811 sur. 96,396
1920-21
ROAD.—The consol. company owns and operates 146 miles of track,
including double track, sidings. &c., connecting Salt Lake City, Sandy,
Midvale, Murray, Holliday and Bountiful. Has 237 passenger and service cars, including 130 double-truck P-A-Y-E cars.
OFFICEREL—Chalrman of the Board & Pres., E. 0. Howard; V-Ps.,
0. J. Salisbury, D. F. McGee, C. E. Groesbeck and S. R. Inch; Sec. &
Teas,. Geo. B. Thomas.—V. 110, p. 65; V. 111, p. 494, 589; V. 112, P.
1145; V. 113, p. 72, 961; V. 114, p. 2014, 2361; V. 115, p. 75. 1534.
RAM/MR(1ER ELECTRIC RAILROAD.
ORGANIZATION.—Incorporated In Utah as the Salt Lake & Ogden
Ry. Name changed to present title in Sept. 1917. On May 28 1910
began operating cars by electricity; prior to that date road was operated
by steam. Shortest of franchises expires In 1955. Practically entire mile.
see is on private right of way.
Salt Lula Terminal Co.—Owns 50% of the stock of the Salt Lake Terminal
Ce and with the Salt Lake & Utah RE., which owns the other 50% of
stock, operates the property under a 50-year lease. These two companies
joInth and severally guar. its let M. bonds p. & I. See under Salt Lake
& Utah RR. and in V. 101, p. 1371.
STOCK AND fiONDS-Maturity,
Date. Interest. Outstanding.
Common *1.000.000
$1.000.000
Pref $500.000(6% notecum)
500.000
First mtge 12.000.000 woldl 1909
1.500.000 Feb 1 1934
5 g F-A
c*(Int. at Harris Tr. & Say. Bk.. Chic., Trustee
($1.000)
Bonds.—FIrst mtge. bonds are subj. to call at 105 and Int. on and after
Feb. 1 1914. Remaining bonds can be issued under certain restrictions
for extensions and additions.

ELECTRIC RAILWAYS

OCT., 1922.1

127

EARNINGS.
-For year ending Dec. 31 1921. gross, $680,813; net, after
taxes, $87.677. In 1920, gross, $763,628; net, after taxes, $198,582.
-Operates a high-speed interurban railway. 3534 miles, between
ROAD.
Salt Lake City and Ogden; total trackage. 73 miles. 18 motor cars, 4
electric locomotives and 1 work car. New terminal in Ogden for use of this
company and the Ogden Logan & Idaho RR. was completed Jan. 1 1915.
Power is purchased from the Utah Power & Light Co.
-P.. J. B. Bean; Sec..
OFFICERS.-Pres., Julian M. Bamberger; V.
-V.102, p. 2167.
E. A. Vail; Treas., Simon Bamberger; Aud., W.E. Jones.

In San Antonio handed down a decision holding that the franchise ordinance under which the company operates does not constitute a binding
contract in so far as the 5
-cent fare provision is concerned. V. 108. p. 880.
Federal Judge Duval West has granted an injunction restraining the city
from interfering with the company putting into effect increased fares.
On April 11 1921 the U. S. Supreme Court upheld the action of the lower
court. V. 112, p. 1618, 1700. After numerous trials the company finally
adopted a straight 7-cent fare with universal transfers. V. 110. p. 659.
On Aug. 16 1920 fares were raised from 7 to 8 cents, metal tokens being
sold at 4 for 30 cents. V. 111. p. 897. In Dec. 1921 the City Commission accepted the company's proposal to:(1) reduce fares from 8 to 6 cents
UTAH-IDAHO CENTRAL RR.
upon discontinuance of the jitney service, and (2) to etsabilah the 1920
ORCIANIZATION.-Incorp. in Utah Oct. 17 1914 as the Ogden Logan schedule In the price of gas and electricity, with graduated reductions
& Idah6 RR. as a consolidation of the Ogden Rapid Transit Co. and the based on the amount consumed. V. 113, p. 2615. See, however. V. li4.
Logan Rapid Transit Co.. with $5,000,000 auth. stock. Of the new stock p. 1652.
Favorable Fare Decision.
-See V. 112, p. 1867.
214 shares were exchanged for one share of the Ogden Rapid Transit Co.
Jitney Ordinance.
($500.000 auth.) and 1 ti shares for each 10 shares of the Logan Rapid
-V. 114, p. 2470.
In Jan. 1921 the co. was auth. to issue $2.300,000 additional capital stock,
Transit stock. Name changed to present title on Jan. 1 1918. On April
8 1919 this co. and the Cache Valley RR. were consolidated. Compare $2.000.000 to be 8% pref. and $300.000 coin. stock. For details see V. 112,
V. 108, P. 975.
P. 258. Compare V. 112. p. 63. In Jan. 1922 issued $3,800,000 1st mtge.
-year bonds, Series "A," proceeds being used to retire .52,611,A terminal In Ogden for the use of this company and the Salt Lake & & ref. 6% 30
Ogden By. was completed Jan. 1 1915.
000 1st cons. 5% bonds due Sept. 1 1967, to provide for construction and
In Feb. 1920 the directors auth. the issuance of $300.000 notes, proceeds impt. expenditures and for other corporate purposes. V. 113. p. 2819.
to be used to purchase roiling stock and equipment and for impts. V. 112,
STOCK AND BONDS- Date,
Interest. Outstanding, Afaturitg
p. 654.
Common 65,000,000
$5,000,000
Disposal of City Traction Lines.
-On Jan. 1 1920 all city traction lines of Preferred $2,000.000($100).
278.100
the company were sold to the Utah Rapid Transit Co. for 9,000 shares 1st mtge & ref ser "A" 4100,I 1922 8% J-J
6g
3,800,000 Jan 1 1952
com. stock of the Traction Co., and the assumption by that company of
$500 & 61,000)___ c•tflInterest payable in New York.
$1.000.000 principal amount of outstanding funded debt.
Can Antonio Trac $934.000f 1908
T5 M-8
984,000 Sept 1 1949
STOCK AND BONDSDate. Interest. Outstanding. Maturity.
1st mortgage gold
)New York Trust Co., trustee.
Common stk. $3,000,000 ($10)
San Antonio Gas & Electric! 1908
$820.139
5 M-S
984.000 Sept 1 1949
($10__ _ _
See text
606.510
9984.000 let M 9(3500)c*tflInterest at New York Trust Co.. trustee.
1st pref. cum $3.000,600
-The issuance of addi 1st & ref. mtge. 6s is restricted by proviBonds.
First & ref mtge 84.000,000 1920 6 g J-J 2
3,733,000 Jan 2 1940
' ($100.5500 & $1,000) g_ _c. Ogden Savings Bank, Ogden, Utah, trustee. sions of mtge. In addition to $3,800,000 outstanding $732,000 are held
-The 1st pref. stock is cum. at 67 and Is entitled after 6% has In treasury. Ser. "A" red. all or in part, on any int, date, upon 60 days'
Stock.
been paid on the common and before any additional payment can be made notice at 110 from Jan. 1 1932 up to and incl. Jan. 11942, and at 105 thereon the corn., to an extra 2%.
after to maturity, plus Int. Penna. 4-m111 tax refundable. V. 113, p. 2819.
Bonds.
-Are callable on any int. date to and incl. Jan.2 1935 at 105,and Both the San Antonio Trac. bonds and the San Antonio Gas & Elec. bonds
thereafter at 1023. Sinking fund of 1% of the aggregate principal were issued to retire underlying bonds. V. 88. p. 687. Gas & Elec. bonds
are redeem. at 105 & int. on 6 weeks' notice. See V. 101, p. 851.
amount yearly from 1925 to 1939.
-Owns and operates 92 miles of single track in city of San An-.
ROAD.
EARNINGS.
-For year ending Dec. 31 1920. gross. $1.062.317; net.
tonio. 250 cars.
after taxes. $301.405: int. & other deductions,$235,476; bal. Burp.,$66,418
OFFICERS.-Pres., Emerson McMillin; V.
-P., E. H. Kifer; Sec. &
ROAD.-Oper. 94.70 miles of railway connecting Iluntsville, Ogden, Treas., R.C. Jones.
-V. 112, p. 1867. 2615, 2819; V. 114. P. 1652, 2470.
Brigham City, Wellsville and Logan, Utah, and Preston, Idaho. The
extension from Wellsville, Utah, via Logan to Preston, Idaho, was placed
in operation in March 1915, and the link between Wellsville and Brigham
SAN DIEGO, CAL.
City was completed and operation over the whole system begun Oct. 14
SAN DIEGO ELECTRIC Ry.-A trolley road.
1915. Contracts have been awarded, it is stated, for extensions from
ORGANIZATION. &c.
-Began operation in 1892, and in March
Ogden to Harrisville, Utah, and from Hot Springs to Brigham City, Utah.
purchased Oltizens' Traction Co. at foreclosure sale. In 1905 sold its 1898
22 miles. Power is purchased from the Utah Power & Lt. Co.
elec-P., D.C. Eccles; 2nd V.
OFFICERS.-Pres., M.S. Browning; 1st V.
-P.. tric power business to a new company-the United Light. Fuel & Power Co.
V. 81. p. 559. On Dec. 30 1920 Comm,sold the
Joseph Scowcroft; Sec. & Treas., Royal Eccles; Gen. Mgr., W.A Whitney' the Sari Diego Cons. Gas & Elec. Co. (Ihmpare power house and plant to
V. 112, p. 63. in 1005 purAud., P. II. Mulcahy.
-V.108, p: 975; V. 112, p. 654.
chased the electric line of the Coronado RR. In 1909 acquired the South
Park & East Side Ry. Stock was Increased Nov. 1007 from 95011.000 to
$5,000,000. In Sept. 1922 the Calif. RR. Comm. approved the purchase
SALT LAKE • & UTAH RAILROAD.
by the co. of the
ORGANIZATION.-lncorp. in Maine in 1912. Road was forma:111 payment $100,900 properties of the Point Loma RR.; the co. to issue in
capital stock
opened between Salt Lake City and Provo Aug. 1 1914, although trains cash. The Point Loma RR, wasat par and in addition to pay $30,000 in
formerly operated by the co. under lease.
were placed in operation July 24 1914. Line was extended from Provo V. 115, p. 870.
to Springville In the fall of 1915 and on to Spanish Fork and Payson In
Fares.
-In Dec. 1919 was
Jan. and May 1916. Branch from Granger to Magna, a distance of about a zone system. For details auth. by the Cal. RR.Comm.to put into effect
see V. 109, p. 2172.
9 miles, was completed Oct. 10 1917. Franchises extend to 1960 in Utah
In
County and In Provo. to 1962 In Salt Lake City and County, to 2010 hi from Nov. 1921 the co. was auth. by the Cal. RR.Corn. to use the premeds
the sale of
Lehi City, American Fork and Pleasant Grove, and to 2012 in Springville. the treasury and $577,000 5% gen. 1st lien mtge. 5% bonds to reimburse
finance construction expenditures already made. V. 113.
Spanish Fork and Payson: remainder on private rieht-nt way.
2186.
Owns 50% of the 6150.000 stock .(auth. $1,000,000) of the Salt baits p.STOCK AND
Sate
utstanding. Maturity.
t
Terminal Co.(V. 101, p. 1371), the other 50% being owned by the Bans
$1,250,000
berger Electric RR. The Terminal Co. is operated by these two companies Stock $5,000,000--------------------Gen lit lien M $10.000.0001 1915 5 g J4
3.177.000 Jan 1 1955
-year lease running to Dec. 31 1963.
under a 50
gold s f ($1.000)
cs&r Int. at Union Trust 0o., San Francisco.
-Three loans aggregating $1,000,000 have been
Loans by United States.
Red. at 102 aft. Jan 1 1920
trustee. or Nat. Bank of Oommerce. N. Y.
made to the company by the U. S. Govt. under Sec. 210, Transportation
Bonds.
-First $5.000.000 bonds bear interest at 5%; rate of interest on
Act. 1920, as amended. $96.000 of this amount was paid back prior to remaining $5.000.000 to be determined at time of issuance, but not to
exAug. 1 1922: $15,700 is due July 28 1923; $188,300 matures periodically to ceed 8%. Sinking fund provides for retirement of entire issue at
maturity.
1935; $700,000 matures July 7 1936; this $1,000,000 loan bearing interest V.99, p. 122. 1131. •
at 6%. These notes in favor of U. S. Govt. are secured by collateral in
EARNINGS.
-For years end Dec 31:
total amount of $1,000,0006% 1st mtge. bonds and $500,000 1st pref. stock.
Year- ."-) Gross. Net,aft.Tares.
0th. Inc. Deductions.
Fare ',crew:v.-1n Mar 1921 the Utah P. Li. Comm.auth. an increase of
Deficit.
$1.371,557
$229,691
$21,157
$208,950
207. In one-way passenger fares between Salt Lake City and Payson. 1921
$43,898
1920
1,379,032
146,377
15,520
V. 112. p. 2307. See also V. 113, P. 629.
223,437
61,540
ROAD.-Owns and operates railway system n in San Diego and Coronado
STOOK AND BONI)8Dale.
Interest. Outstanding. Maturity. aggregating
78.63 miles of track, Including 26.3 miles of second track and
Corn. stock $3,000,000 ($tee)_
83,000.000
1.52 miles sidings Operates 10.1 miles between San Diego and
First pref 7% cum $3,000,000- ---475.500
Chula
7%
Vista and 59 miles in Coronado, owned by San Diego & Arizona Ry.
Pref 77. cum $2,00e,000($100)
1.521 900
Co.
Standard gauge 60
-lb. T rail and 114-1b. Trilby.
lit mtge $10,000,000 gold 1914 6 g A-0
1.399.100 April 1 1944
(91.000. $500 & $100) _c*tf Int. at First Nat.. Bank N. V., or Cont. &
OFFICERS.-Pres. J. D. Spreckels; Gen. Mgr., Claus Spreckles;
Redeemable at 102 & Int__
Cons. Tr. & Say. Bank, Chicago, Trustee. Treas. & Gen. Counsel, Read G. Dilworth;
F. G. Whitehead.Salt Lake Term Co 1st M 1915 6 g J-D
350.000 June 1 1936 V. 83, p. 380; V. 85, p. 1144; V. 99, p. 122, 675, 1131; V.
Sec.'
$1,000,000 gold 41.000 Int. at Bankers' Trust Co., N. Y.. or Inter- 2172; V. 112. p. 63; V. 113, p. 2186; V'. 115, p. 870, 1211. 109, p. 1462,
.
_ •
national Tr. Co.. Denver. Trustee.
Equipment trust certificatesl 1920 7 M-N
100.000
See text
Oaf(Int at Northern Trust Co., Chic., Trustee
($500 & 61.000)
SAN FRANCISCO, CAL.
Equipment notes
1920 6 Q-F
44,563
PACIFIC GAS & ELECTRIC CO.
--See "Railway & Industrial" Section
Bonds.-Fiem..InItut bonds may be issued only under certain las
strictions. The $1,399,100 bonds outstanding bear 6% interest; remaindet
CALIFORNIA STREET CABLE.
will bear such rates not exceeding 6% as may be fixed at time of issue. SinkORGANIZATION.
-Chartered Feb. 8 1877. Annual meeting the third
ing fund of 1% of bonds out 1919 to 1923. 1
1924 to 1933 and 2% 1934
Wednesday in January. Franchise expires in Feb. 1929.
to 1943. All bonds may be called at 102 & int. and replaced by a like
amount bearing a lower rate. V. 100, p. 230. The Salt Lake Term. bonds
STOOK AND BONDS- Date.
Interest. Outstanding, Maturity*
are unconditionally guar., p. & I., jointly and severally, by the Salt Lake & Stock (par $100)
Monthly $1.000,000
See text
Utah RR. and Salt Lake & Ogden By. (now Bamberger Electric RR.). elret mortgage $384.000 (31,-{ 1915 6 g J-J
Serially
191,000
Callable on any int. date on 35 days' notice at 102 and in;. Sinking fund
000) red 1st 5 yrs at 105. Int. at office of company. Union Trust Co.
1% of bonds issued from 1920 to 1924:1 5 % in 1925-29. and 2% in 1930-34.
thereafter at 103
,
of San Francisco. Trustee.
Additional bonds may be issued for 75% of cost of new property or for ails.
Bonds.
-$384,000 bonds were issued to retire $900,000 bonds due Jan. 1
and impts. For description of bonds and property. see V. 101. p. 1371.
1915 (of which $516,000 were in treasury, leaving $384,600 to be
The equip. trust certifs. are secured on 6() cars which cost approximately The new bonds are due in 12 annual installments beginning Jan. refunded).
1 1916 and
$167.000 They mature semi-annually to 1930. V. 110. p. 2388.
ending Jan. 1 1927. ,8193,000 have been retired. No. of bonds which
matured in 1921. 30, the remainder mature successively thereafter, 32. 33.
Calendar Year1921.
1920.
1919.
1918.
37, 39 and in 1927. 46. V. 99, p. 1831, 1672, 1596.
Gross revenue
$793,754
$876,948
$708.026
$546,020
Dividends were 50 cents monthly, but in Aug. 1902 were Increased to 75
Oper. expenses &
5813,792
621,652
465,598
374,403 cents
monthly, and in Nov. 1904 to 90 cents monthly. On account of
Net avail. for int.& divs $206,962 x$255,296
$242,428
$171,616 earthquake and fire, no dividends were paid from April 1906 to Sept.1908.
when dividends were resumed at 50 cents per share up to May 1909. when
x In 1920 interest, &c., deductions amounted to $156.048, leaving a
balance of $99.248.
60c. per share was paid: same rate monthly since.
ROAD -Operates from Salt Lake City south to Payson, about 67 miles,
EARNINGS.
-For years ending Dec. 31:
Yearand a branch line from Granger to Magna (about 9 miles); also about 1 mile
Gross. Net. aft. Taxes. 0th.Inc. Deductions.
Surplus.
of single track of the Salt Lake Terminal Co. tracks in Salt Lake City and 1921
$547,054
$97,759
$18.713
$13.380
$103,092
about 2 miles of single track street railway in Provo. 75 and 85-1b. rail; 1920
546,073
113,019
20.073
45.180
87,912
standard gauge. 17 passenger cars, 1 combination gas motor car,6 electric 1919
533,311
143.407
45.920
97,487
ROAD.
locomotives, 3 express and 130 freight cars and 11 service cars. Power is
-Operates 11 miles of track on 51.4 miles of street.
OFFICERS.-Prea . Jas. W. Harris: V.
purchased under long-time contract from Utah Power & Light Co.
-P 1 , rs,v ,sn• 14 V.
t
-P.
S. Waldo Coleman; Sec., Geo.
Security
twirios:R8.-Pres., W.0. Orem; V.
-P., Ross Beason; V.
-P., Henry I. Aud. Chas. P. Stone; Supt., A. Hare: Treas.,Office, Bank & Trust Co.'
J. W. Harris.
1061 Hyde St., Sari
Moore; Sec. & Treas., F. M. Orem; Acting Aud , C. M. Osborn.
-V. 111, Francisco, Calif.
-V. 99, p. 1831. 1616.
p. 2230; V. 112, P. 2307, 2643; V. 113, p. 629,.732, 1054, 2313. •
COAST VALLEYS GAS & ELECTRIC CO.
ORGANIZATION.
-Incorporated on March 20 1912 in California.
Acquired the properties of the Monterey Gas & Electric Co.. the Monterey
County Gas & Electric Co.. the Salinas Valley Water Co. and the King
SAN ANTONIO PUBLIC SERVICE CO.
City Water, Light & Power Co. Does entire electric and gas business in
Practically all the corn. stock is owned by the American Light & Trac. Co
OR.DANIZATION.-Incorp. in Texas Sept. 6 1917 to take over and Monterey, Salinas and Pacific Grove; also owns water system of Salinas and
the properties of the San Antonio Gas & Electric Co. and the San electric distributing lines in Salinas Valley and electric and watersystem at
operate
Antonio Traction Co., both formerly controlled by the Southern Light & King City. -In Dec.
Valuation.
approx.
Traction Co.. whose affairs were wound up. The new company is auth. to tilaced at $1.588,692. 1920 thep. 2524. value of the co.'s properties; was
V. 111,
construct a system of Interurban electric railways out of San Antonio, and
,
Rates.-Ettective Oct. 1 1921 the Calif. RR. Comm. auth. the co, to
it it reported will build a line between San Antonio and Austin, about 85 reduce gas rates ass result of a decline in the price of oil. Future
rates are to
miles.
be based on the variations in the price of crude oil. V. 113, p. 1364.
-On Oct. 3 1918 the San Antonio City Commissioners
Fares-Rates, &c.
In Dec. 1921 the Cal. RR. Comm. auth. the
-cent fare (with the 6% cum. pref. stock; (2) refund $2.000,000 co. to: (1) issue $400.000
denied the company permission to charge either a 6
existing transfer) or a 5-cent fare with no transfers. V. 107, p. 1482. (3) cancel claims for nearly $1.250,000 unpaid7% cum. pref. stock and
accumulated dive, on the
Compare V. 107. p. 1102. The company applied to the United States 7% pref. stock. The Comm. also auth. the co. to
issue and sell at not less
-cent fare, and
District Court at San Antonio for authority to charge a 7
han 80% 5100.000 dd'l 6g pref. to finance in part the cost of add'ns and
on Feb. 18 1919 Judge Duval West in the United States District Court ,netterments. V. 113, p. 2618. See also V. 115, p. 441.

SAN ANTONIO, TEX.




128

ELECTRIC RAILWAYS

STOCK AND BONDS- Date. Interest. Outstanding. Maturitlt
Common $3.000.000 ($100)
33.000.000
402.500
Pref 1500.000 ($100) 7%1
cum from July 1 '12;red 1101
First M $10.000.000 gold' 1912 6 g M-S
973.000 Mar 1 1952
($1,000) ann sk fd of 1% Interest at Mercantile Trust Co.. San Fran..
of bonds out beg Mar '18 c•
Trustee, or U. S. Mtge & Tr. Co . N. Y
Collateral trust 10
240,000 Nov 1 1930
-year notes) 1920 8 g M-N
$400.000 ($1,000) gold_tfflInt. at Anglo-California Trust Co., San
Fran- Trustee. or N. Y. Trust Co.. N. Y.
Bands.-Bondc are redeemable, all or any, on any Int. date at 105 and mt.
-year collateral trust notes.
8360,000 are pledged as security for the 10
147.000 (not incl. in amt. outstanding) are held In s. f. V. 94. p. 1249.
Notes.
-The 10-yr. coll, trust notes are secured by 1st M. 6s In the ratio
Of $3.000 bonds to $2.000 notes. Are red. at 105 until 1926 and thereafter
at I% [premium] for each year of unexpired term. V. 111. p. 2524.
Other
Bond
Balance.
EARNINGSGross
Net (after
Taxes). Income. Int. etc.
Surplus
Years ending- Earnings
$72.807
$79.559
June 30 1921.-8593.489
$147.477
$4./
189
3.723
61.926
84.359
145.562
June 30 1920___ 528.130
27.309
59.681
69.146
101.518
June 30 1919--- 367.170
Property, deco-Does electric and gas business, Monterey, Pacific Grove
and Salinas, also owns water system of Salinas and King City, and electric
distribution lines In Salinas Valley. Owns electric generating plants at
Monterey, Salinas and King City. Purchases most of the electric energy
which it distributes from Pacfic Gas & Electric Co., lessee of Sierra & San
Francisco Power Co.
-Ps., Warren Gregory and
OFFICE R9.
-Press M. B. Starring; V.
James F. Pollard; Sec. & Treas.. P. S. George.
-V. 111, p. 2427, 2524;
V. 113. P. 1364, 2618: V. 115, P. 441.
UNITED RAILWAYS INVESTMENT CO.
-Incorporated in New Jersey Feb. 17 1902. In
ORGANIZATION.
Sept. 1909 filed an amendment tot ts charter changing its name from United
Railways Inv Co of Son Francisco to its present title. v 53 p 680
Owns all the outstanding corn, and pref. stock of the California Ry. &
Power Co.
-In Fee. 1906 acquired S21.000,000
Acquisition of Philadelphia Company.
of the common stock of the Philadelria Co. of Pittsburgh, giving $37 50
In new collateral trust bonds and 20 in common stock of the Invest.
ment Co. for each $50 share of the Philadelphia Co. See V. 82. p. 393
989. For statement made in listing these bonds on the Philadelphia Stoct
Exchange. see V. 83. p. 1235. Now owns $24 530.000 Phila. Co. corn. stk.
-See V. 113. p. 2186.
Reorganization Planned.
Interest. Outstanding. Last Div AU
STOCK AND BONDS- Date.
120.400 000
Common $31,000.000 ($100)
15.830.000 Jan '07. 24
Pref 5% cum from Apr 1 19021
in scrip
$25.000.000 MN)
, See text
1.462.500
Pref stock div certificates____
5 g M-N 14,127 000 May 1 192e
1st lien collateral trust mtgel 1906
Trust
mt. at Guar. Tst & Safe Dep. Co.. Phila.
$20.250,000 gold 41.000) I
or N. Y. Trust Co.. N Y. Trustee.
ca
sinking fund
458.000
To 192h
5%
Notes
-The coll, trust bonds are secured by deposit of all arquired corn
Bonds.
Phila. CO. except 6.600 shares. They are subj. to call on
mon stock of the
any int. date at 105 and int. A sinking fund of 1% per annum of bonds out
!standing began May 1 1911. said fund to be Invested in the bonds at
not more than 105 & int. The amount reported outstanding as above ex
eludes $4.023 000 held by trustee In sink. fund. Authorized amount of
bonds may be increased for purchase of additional shares of corn. stock of
Phila. Co. Bonds are listed on N. Y.& Phila. Stock Exchanges. V. 90
p. 169. 172.
Stock.
-The preferred stock can be retired at 110. $1.000.000 of the
pref. stock out bears dive from Sept. 1 1909.
-Of the $1.462,500 outstanding, $712,500
Pref. Stock Die. Certificates.
bear Int. at rate of6% and 3750.000 at 5%.
div 1A %. on pref. stock. paid Jan. 3 1903; 15.4_%
Dividends.-FIrst
July '03; in Jan.'04. IA %;July. 1 SS %;in '05. 4%; In '06. Jan..
% (V
4 0
81. p. 1667); April. 41 e7 -owing to the earthquake and fire. this dividend
was paid In interest-bearing scrip instead of cash. V. 82. p. 988. In Jul)
1906 another scrip dividend of 24'dt paid (v 92, n 13°1) and in Jan. '0;
another of the same amount. V. 84. p. 1429. None since.
REPORT.
-Fiscal years ending June 30 (1921 report V. 113.P. 1884)
Totes
Year
Divs. Reed
Other
Interest on
Balance
Endingon Stocks.
Income. Expenses. Bonds.&c. Surplus
$1,468.500 $284,185 3111.658 11.044.599 $596.428
June 30 1921
92.577
264.617
1.466.100
1.065.924
572.21e
June 30 1920
73.137
192.893
1.074.449
June 30 1919
1.473.300
518.60',
90.270
1 ,072.523
168.821
1.534.687
540.715
June 30 1918
The entire surpluses of 1920-21. 1919-20. 1918-19, 1917 18 and 1916'17.
,
aggregating $2.942.768, have been set aside as a provi lon toward losses
sustained through investment In United RRs. of San Francisco (now Market
St. Ry.) and applied against book cost of stocks of Calif. Ry. & Power Co.
EARNINGS.
-For cal. year 1921 will he found In V. 114. p. 1654.
OFFICERS.-Pres. Mason B. Starring; V.-P., H. B. Lake; Treas.,
B. S. Guinness. N. 1(.•. Sec. & Asst. Treas. M. V. R. Weyant; Aud. &
'
Asst. Sec., P. M. Hoskins.
-V. 105. D. 1516; V. 106, p. 2451; V. 107.
1379. V. 108. p. 1823. 2023: V. 109. p. 1701. 1790* V. 111. p. 1656. 1759;
V. 113. p. 1774. 1884. 2186; V. 114. p. 1654; V. 115. P. 75.
(1) California Railway & Power Co.
All the common and preferred stock issued is owned by the United Rys.
Investment On.
ORGANIZATION.-Incorp. In Delaware on Dec. 18 1912. Own,
the entire oustanding stocks (except director's qualifying shares) of the
San Francisco Elec. Rys, and the Sierra & San Francisco Power Co. The
Co. together with the United Rys. Invest. Co. owns $6.000.000 corns $3,.
825.000 pref. and 12.350.000 2d pref. stocks of the Market St. Ry.
-See Sierra & San Francisco Power Co. below.
Lease Controlled Company.
Authorized. Outstanding. Last Div.
STOCK$40.000.000 $40,000.000
Common stock
6.874.400 June '14. 2%
Pref. stock. 7% cum., red. at $115- 6,874.400
2.400.000 See text
Prior preference 7% cumulative..__ 5.000.000
Prior pireferred stock is redeemable at $115 a share except the first
113.000,000. which will be retired, when earnings are sufficient therefor
through a cumulative sinking fund $100,000 yearly on January I
1919 to 1917 and $260.000 annually thereafter. 1100.000 was redeemed in
Cash Jan. 2 1914 (V. 97, p. 1820. 1662) and 1100.000 Jan. 2 1915 (V 100
p 53). None redeemed since. Additional prior Prof. stock may be
Issued only for additions, betterments. acquisitions. &c. No mortgage or
Other Incumbrance may be created that does not provide for the cancella
V. 96, p. 61.
Sion of ell prior pref stock then outstanding
-For years ending June 30 (1921 report in V. 113. p. 1572:
REPORT.
see also V. 114, p. 1405):
Previous Total for
Prior Pref.
Total
Net
Total
Fiscal
Dividends. Surplus
Income. Income. Surplus. Divs.
Year1920-21---_31.166def.$13,192def.$57.864
def $71.056
def.57.869
1919-20-- 3.457 def.23.838 def.34.026
def.34,
131 def.28.528 def.5.498 def.34.026
026
1918-19---_
Dividends.
-First div. on prior pref. stock-1 SS %-pald April 1 1913
same rate quarterly to and Incl. July 1916. In Oct. 1916 paid only 1%
None since. V. 105. p. 1416. In Sept. 1913 a dividend of 3A % was
paid on the preferred stock. In June 1914 2% was paid.
-Ps., G. de B. Greene and
OFFICERS.-Pres., Mason B. Starring; V.
B. A March; Treas., 11. S. Guinness: Sec. & Asst. Treas., P. M. Hoskins
-V.105. p. 1308. 1416. 1918, 2542:V. 107. p.1380;
Mann.
Asst Sec., C
V. 109. P 1608; V. 111. p. 1469: V. 113. p. 1572; V.114, p. 1405.
Co.
(a) Sierra & San Francisco Power & Power Co.
Stock is owned by the California Ry.
-Incorporated In California on May 29 1909 and on
ORGANIZATION.
Tuolumne
the Stanislaus Elec. Pow.
Sept. 1 1909 took overforeclosed per plan in V. 88. Co. and the1005. 1066
p. 235. 569.
Water Power Co.. both
extending to 1954 with United ER.. of San Fran. to supply
Else contract
the LaGrange division
power to that company. In Oct. 1917 purchasedof additions and better.
and cost
Of the Yosemite Power Co. for $450.000
105. p. 1528.
V.
Meets from Dec. 1916
-On Dec. 31 1919 a contract was negotiated with the Pacific Gas
Lease.
of Sierra & San Fran& Electric Co., under which the operating properties
Cdseo Power Co. were leased for a period of 16 years With the understanding




[VOL. 115.

that arrangements would be made by Pacific Gas & Electric Co.. to finance
necessary additions both in generating and distributing equipment by the
sale of Sierra & San Francisco Power Co. bonds if feasible and otherwise by
the use of Pacific Gas & Electric Co. credit. The interest obligatlor.e Jiorer
both the Sierra Co.'s Trust Indentures are guaranteed in F.ra!t by Pacific
Gas & Electric Co. during the life of the lease and in addition the Sierra Co.
receives a rental of $50 000 per ann. for the first two years. 1100,000 for
the third year and $150.000 per annum for each year thereafter. Y. 111.
P• 1478. In accordance with terms of lease the Calif. RR. Comm.auth. the
co. in July 1921 to deliver to the Pacific Gas & Elec. Co. $1,000.000 1st
mtge. bonds previously approved by the Comm. The bonds were applied
for the repayment of money advanced or to be advanced by the Pacifie
Gas & Elec. Co. for exts. and betterments to the co.'s properties. Y. 113,
p. 426. The proceeds of a second $1,000,000 of 1st mtge. bonds have been
similarly paid and applied.
STOCK AND BONDS- Date, Interest. Outstanding. Maturity.
gtock $20.000.000 ($100)
120.000.000
M 130,000.000 g ($1,000.1 1909
5 g F-A 12 .500..000 Aug 1 1949
"
8. "
0
$5.000 &c)
cs&rstf Int.at U.S.Mtge.&Tr Co. N. Y. Trustee.
2d mtge Ser A & B $9,500.000 1909
6-6 J-J
9.600.000
I 1949
(21.000)
_
___
calColumbla Trust Co., New York. Trustee
Bonas.-First mtge. bonds are subject to call on any Int, date at 110 and
int. The remaining bonds may oe issued at 80% or cost of extensions and
esid'es provided net earnings for previous 12 mos. shall equal twice Int.
charge on all outstanding bonds, Incl. those to be Issued. V. 91, p. 157.
The bonds are listed on the N. Y. Stock Exch. Second mtge• consists of
Series "A" $1,000,000, at 6%, and Series "B" $8,500.000 (incl. $44,000
Series "B" in treasury) at 5%.
EARNINGS.Gross
Net (after
Other Interest on Balance.
12 Mos. ending- Earnings.
Taxes). Income. Bonds. .1c. Surplus.
.6 m. end. Dec.31 '19$1.316.025 $183.857 112.182 $435.941 df$239.902
June 30 1919
2.225.160
981.771
11.213
129.417
863.567
June 30 1918
1.694.474 1.010.111
20.831
859.357
171.585
• On Dec. 31 1919 the co.'s properties were leased to the Pacific Gas &
Elec. Co. (see above under "Lease") and earnings are no longer reported
separately.
Property.
-Owns water-power properties near San Francisco and a supplementary steam station in that city, which have a combined capacity of
97.940 h.p.
OFFICERS.
-Press Mason B. Starring; V.
-P., H. F. Jackson; See. &
Treas.. Ernest A. Richards: Asst. Sec.-Treas., P. M. Hoskins.
-Y.106. P.
2349. 2763: V. 107. p. 1389; V. 111, p. 1478; V. 113, p. 426.
-(See map, page 129.)
MARKET STREET RAILWAY CO.
-An operating and holding company.
16.000 000 corn., $3.825.000 pref. and $2.350.000 2d pref. stock of the
Pow. Co. and the United Rys. Invest. Co.
co. Is owned by the Calif. Ry.&
-Organized In Calif. on Oct. 14 1893 as a consolidaORGANIZATION.
tion of 11 corporations operating street railroads In the city and county of
San Francisco. On Mar. 18 1902 all the assets were sold and conveyed to
the United RRs. of San Francisco, which operated said street railroads
together with other street railroads purchasen by It up to April 1921, when
through reorganization and foreclosure proceedings the Market St. Ry. reacquired all the tr sets and properties of the United RRs. and now operates
,
same. Reorganization was carried nut in accordance with terms of plan
outlined in "Electric Railway" Supplement of April 30 1921. where history
of United RRs. up to time of reorganization will also be found. See also
V. 112. p. 2093. The co. owns the following stocks:
Issued. Owned by Co.
Par Val. Auth.
Name
Sutter St. Ry Co
$100 $2,000.000 $2,000.000 $1.999.500
13.000
South San Fran. RR. & Pow. Co
13.500
100.000
100
Gough St. RR Co
59701
9'.99
San Fran. & San Mateo Elec. Ry
6 00
10 0
0.'0 0
01000
0
6 .0 0
0.0
0
10
10
Siam RR. Co
2.9
9 07
39 5
4
23.108
10
40.000
Metropolitan Ry.
10.000
10.000
100
Leases the (lough Street RR. Co.'s system, which includes the lines
formerly owned by the San Francisco Elec. Rys. (conveyed to the former
through reorganization proceedings). The balance of the property of San
Francisco Elec. Rye. (consisting of power-house and rolling stock) is now
owned by Market Street Ry. Co.
Municipal Ownership Voted.
-On Nov. 2 1920 the people of San Francisco voted in favor of a proposition to amend the city charter in such form
as to enable it to acquire traction properties. to be paid for out of earnings.
For details see V. 111. p. 1950.
In April 1922 negotiations for purchase by the city were under way.
The Board of Supervisors was reported to have agreed upon $35,000.000
with deferred payments carrying 5% interest, as a fair valuation of the
company's properties. For further particulars as to city purchase plans.
see V. 113. p. 2819: V. 114. p. 522. 1179. 1533: V. 115. p. 759.
Decision.
-On Jan. 18 1917 Judge Hunt in the U. S. Court at San Francisco dissolved the temporary injunction preventing the construction of
municipal street railway tracks on lower Market St., paralleling the co.'s
tracks. The company appealed, but on Aril 21 1919 the U. S. Supreme
Court upheld the decrees of the Federal Court dismissing the Injunction
proceedings brought by the company. In dismissing the company's appeal
the Court said that this action was taken without prejudice to the company's
right to seek damages. The various damage suits filed by the company up
to May 1919 bring the total amount of damages claimed up to $6,870,130.
V.108. p. 1823. 1722. Compare V.107. p. 2290: V. 108. p. 1391.
Valuation.
-See V. 113. p. 1360. Compare V. 112, p. 63, under caption
'U. Mts. of San Francisco."
City Purchase Proposal.
-V. 113, p. 2311.
STOCK AND BONDS- Date. Interest. Outstanding. Maturity.
$10.646.800
Corn stock 110.700.000($100)____
Prior preference 6%, cum
11.617.000 Oct '22.1A
$11,750.000 ($100)-------4.986.700
Pref6% cum $5.000.000($100) ---4.673.400
2d pf6% n-e a4.700.000 ($100)
14.953.100 Sept 1 1924
5 g M-S
First consolidated mortgage( 1894
gold $7,500,000 ($1,000)_c Int. at Treasurer's office. San Francisco, or
Ladenburg. Thalmann Sr Co., New York,
6 A-0 1
4.847.000 April 1 1924
-year 6% con. tr. notes 1 1919
6
$5,200.000 ($1.000)c___tff Int. at Union Trust Co., San Fran., Trustee.
or Equitable Trust Co., N. Y., Trustee.
Stock.
-All classes listed on N. Y. Stock Exch. and on San Francisco
Stock and Bond Exch. Both the prior preference and the preferred stock
Is cum. 2d pref.. however. Is non-cum. All classes of stock have equal
voting power. There is no provision for redemption or conversion of stock.
Bonds -Of the 1st cons. mtge. 55 reported as outstanding $4.847.000 are
pledged as collateral under the 5-year 6% notes Sinking fund of $160.000
per annum. began Sept. 1 1918 and applied to the redemption of these bonds.
Bonds so redeemed are canceled. Up to (let 1 1922 $1 073.000 bonds had
been retired through the sinking fund. Union Trust Co. of San Francisco
Is trustee. Mtge. contains no tax-free covenant. Listed on N. Y. Stock
Exch. and San Francisco Stock and Bond Exch.
Notes.
-year 6% con. tr. notes are secured by 14.547.000 let cons.
-The 5
mtge. 5% bonds and by a first lien on certain properties described in
V. 112. p. 2093. Cali, all or in part on any int, date on two weeks' notice
at 102 and int. Sinking fund of $160.000 per annum for purchase of notes
Is provided for, and to Oct. 1 1922, 1353.000 had been purchased and
canceled through the sinking fund. Listed on New York Stock Exchange
and San Francisco Stock and Bond Exchange.
Diridends.-An initial dividend of $1 50 per share was paid on the 6%
i% paid since
prior preferred stock April 1 1922. Regular guar. diva. of I ,
to and Incl. Oct. 1922. V. 114. p. 851.
Lutist Earnings -Earnings for 9 months ended Sept. 30 1922: operating
revenue, $7.093.838: net., after taxes. 11.490.423: other income, $37,988
bond interest. &r., $566.244: balaoce. surplus. $971.166
ROAD.
-Operates street railways in the city arid county of San Francisco and in San Mateo County. Calif Total mileage. 291 mites, of which
22 are interurban. The tracks In San Francisco are partly electric and
partly cable; the line in San Mateo County Is an interurban road extending
Rails 38 to 111-lb. Tan
from San Francisco to the city of San Mateo
girder. Has 744 pass. cars. 63 work cars and 5 miscellaneous cars.
Haskins & SOK accountants. It was
FRANCHISES -In a report by
stated "that out of the total original mileage of 228.95 miles, the franchises
for 11.5431 miles only expire prior to 1929; all others between that year
and 1952.''

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130

ELECTRIC RAILWAYS

[vol,.

1 I.

OFFICERS.-Pres., Charles N. Black; V.
-Ps., George B. Willcutt,
ROAD -Comprises 46 miles of track, extending from Vallejo via Napa,
D. C. Morris and Wm. M. Abbott; Sec., George B. Willcutt; Asst.
Sec., to Calistoga, of which 30 miles on private right of way, 12.39 miles on
E. M.Massey and P. M. Hoskins; Treas., A. M.Dahler. Office, 58 Sutter streets or highways
and 3.32
St.. San Francisco, Calif.
-V.113.p. 1574. 2311. 2819; V. 114, p. 522, 851, acres of land, incl. water front inmiles sidings, standard gauge. Owns 37
Vallejo. Commenced operation of freight
1179, 1407, 1533, 1885, 1915; V. 115, p. 74, 436, 759, 1631.
service into Mare island Navy Yard Sept. 20 1920 over a branch of 3,900
--- ft. additional main line and over Mare Island Government Causeway
PR ESIDIO & FERRIES RAILROAD.
-Trolley.
and Transfer Yard on Mare Island, the latter having a capacity of 75 cars.
The city of San Francisco purchased the property and rolling
All transcontinental freight will hereafter move over this route for Mare
$323,000 and is now operating it, the franchises having expired stock for Island. In
-car interchange yard at Napa Junction,
1913. All debts were paid and stockholders received a dividendDec. 13 7 miles from1920 completed a 75
Mare Island, where freight for the Navy Yard will be interof $40
per share (par $100. of which $55 paid in in liquidation.)
changed with the S. P. Co.
OFFICERS.-Pres., Jas. Irvine, San Fran.; Sec. & Treas.. T. V. Max-P. & Gon. Mgr., C. E. Brown, Napa.
SACRAMENTO NORTHERN RR.
-V. 115, p. 1100.
-The Western Pacific RR. Corp. well, San Fran.; V.
(see "Railway and Industrial" Section) in 1921 acquired about 09% of
both stock and bonds of the company.
Organization.-incorp. In California on June 20 1918 as a reorganization
SAN JOSE, CAL.
per plan in V. 104, p. 1489 of the Northern Electric By.. bid
SAN JOSE RAILROA DS.
-A trolley road.
closure sale on May 28 1918. V. 106, p. 2758; V. 107. p. 182; in at foreSouthern Pacific Co. owns entire stock except directors' shares.
V. 109. TIu•
2440.
ORGAN1ZATION.-Incorp. in California Dec. 23 1909 as successor to
In Jan. 1919 the Cal. RR. Comm. auth. the co. to use $653,750 realized San Jose
Ry.
from its Class "A- bonds to pay reorganization and foreclosure expense* County RR. Co. V. 90. p. 1297. Properties of San Jose & Santa Clara
Co. purchased by San Jose rills. March 15
and to satisfy a mortgage indebtedness of $213.750 of the Northern Realty
In June 1918 applied to the Cal. RR. Comm. for auth. 1912.
to abandon that
Co. V. 108, p. 80. Compare V. 107, p. 2098. See also V. 109, p. 1274
part of its line between Linda Vista and Toyon stations and a portion of
In Oct. 1919 WaS auth. by the Cal. RR,. Comm. to expend $316.683 for the line on
Monterey road.
additions and bet terments.
Fare Increase.
-in Aug. 1918 was auth. by the Cal. RR. Comm. to inWestern Pacific's Offer ti Acquire Road, &c.
-The proposal of the Western
Pacific to exchange its 1st Mtge. bonds for the company's bonds in the ratio crease fares from 5 cents to 6 cents. V. 107, p. 604.
STOCK AND BONDSof 4 to 5; to pay $26 50 in cash for each share of pref., $12 50 in cash for
Date.
Interest. Outstanding. Maturity.
each share of 2d pref., and $5 for each share of common,was opposed by Stock 35.000.000 ($100)
$5.000.000
John S. Drum, a director of the Sacramento Northern, who held that the 1st mtge $1,500,000 gold l 1910
5 g J-J
1.3311.000 Jan 1 1955
($1.000) sinking fund____tf tint. at Mercantile Trust Co.. S. F. Trustee.
offer was entirely inadequate. As a result, the security holders appointed
'Ian Jose & Santa Clara Co.) 1906
the following committee to determine a fair value for the properties and
44 A-0
1,152.000 April 1 1916
RR 1st & ref M $1,500.000 Int. at Union Trust Co., San Fran.. Trustee.
securities: Miles Standish, Chairman; George W. McNear, Walter D.
41.000) gold
Mansfield, C. W. Bush and C. J. Crary. V. 111, p. 2042. In Nov. 1920
c*tf
Bonds.
-The San Jose & Santa Clara Co. RR. bonds are subject to call
the committee also held the above offer to be inadequate. V. 112, p. 258
In Jan. 1921 the Western Pacific Corp. made formal offer to exchange at 110 and int. Sinking fund of 1% of outstanding bonds began Apr. 11011.
4 Western Pacific RR. Co. bonds for 5 of the company's bonds: $27 50 let M. bonds are subject to following sink, fund provisions: Jan. 1 1915 to
1939, incl., $10,000 per year, 1910-44. incl., $20,000 per yr.; 1945-49,
per share to be paid for the 1st pref. stock; $15 per share for the 2d
and $6 per share for the corn. stock of the co.; the shares and bonds pref.; $30.000 per yr.; 1950-51, $40.000 per yr.; or these bonds may be delivered
to be
deposited with either or both the Union Trust Co. and the First Federal to trustee in lieu thereof.
EARNINGS.
Trust Co.. Sari Francisco. to comply with the requirements of the offer.
-For years ending Dec. 31:
YearGross.
For details see V. 112,p. 563. Up to Dec. 31 1921 98% of the
Net. Other Inc. Int..Rent.,&c. Bal.,Def.
stock had been deposited under this offer. V. 112. p. 1400.company's 1921
$410,772 $53,706
$1,619
$206,644
def$151,289
See also 1920_
V. 112. p. 2114. This transaction, however, had not been consummated
_
401,587
74,482
1,262
198,730
122.985
ROAD.
up to Oct. 2 1922. See V. 114, p. 2360.
-Owns 24.79 miles first track. 11.75 miles 2d track, 2.02 miles
sidings and turnouts; total. 38.56 miles; serving cities of San Jose and
The authorized capitalization of the company is as follows:
First pref. (a. & d.) stock,6% non-cumulative (par $100)
Santa Clara and country adjacent thereto. Standard gauge. 46 e'aictric
$1.902.200 motor and 13 trailer cars: automobiles
Second pref. (a. & d.) stock,6% non-cumulative (par $100)
3
for passenger service.
957.800
Common stock (par $100)
OFFICERS.-Pres., Wm. F. Herrin; V.
-P., Paul Shoup; Sec. & Aud..
1st Vf 5% 20-year bonds, all on equal footing except as to Interest 2,340,00CI It. A. Culloden; Asst. Sec., G. L. King; Treas., M. S. Wade.
-V. 90. p.
payments. Dated July 1 1917. Denom. $1.000, $500 and
1297; V. 92, p. 1033; V. 101, p 560: V. 107. p. 604.
$100; interest payable semi-annually. Total, $5.500.000, viz.:
Class "A" bonds, call. at 102, a fixed charge from July 1 1917-$2,012.4
00
SANTA CRUZ. CAL.
riVIS "B" bonds, call, at par, a fixed charge from July
1
951,200
*Class"0" bonds, call, at par, a fixed charge from July I 1919_ 1.268,200
COAST COUNTIES GAS & ELECTRIC CO.
1922_
*Claw;"D" bonds,call, at par, a fixed charge from July 1 1927_ 1.268.26t
ORGANIZATION.
-Organized in California on Mar. 20 1912 and has
*Prior to dates named C and D bonds will receive interest only to extent acquired the Coast Counties Light & Pow. Co., Big Creek Light &
Pow. Co.
of net earnings.
and San Benito Light & Power Co. and Gilray Gas Works; also the entire
A sufficient number of Class "A" bonds will be sold to provide for
putz
, capital stock of the Union Trac. Co. (Santa Cruz). Franchises in munici.
poses necessary to the reorganization plan.
panties perpetual; county franchises-on hIghwavs until 1946 to 19.54.
Votina Trust -All of the capital stock is deposited with the
In July 1922 the co.
auth. to issue $250,000 of6% prof. stock at not
Trust Co. of San Francisco under a voting trust agreement, such Union loss than $85 a share, was
proceeds to be used to rolmbuu so flue treasury for
continue until all the bonds of the new corporation shall be paying trust to capital expenditures and to retire before maturity
the $150,000 6% debenfixed Interest of 5% per year, but not longer than July 1 1927. the fit tures duo Jan. 11924. V. 115,
See %
p. 187.
.
104 1)- l489.
STOCK AND BONDSDate.
Interest. Outstanding. .21falurity.
EARNINGS.
-For years ending Dec. 31:
Common $2.000.000
$1.000.000
Calendar
Gross
Net, after
1st prof $I.000.000 6% cum__ ____
Other
Interest,
Balance,
Quar.
220 900
See text
YearsRevenue. Tax & Depr. Income
Frei $1.000.000 65 cum
&c.
Sur. or Del
Quer.
1,000.000
See text
1021
$1.583,505
$60,031 $45,557 $195,903 def.$90,31i Coast Counties L & P 1st M1 1906
5 g F-A
849.000 Aug I 1946
1920
1.674.104
138,445
$1,000,000 g ($1,000)_c*tf lint. at Mercantile Tr. Co.. San Fran True,
32,414
193,026 def. 22,166
Debentures150,999 Jan 1 1924
ROAD.
-Total main line operated, 160.43; other tracks, 53.89;
Big
4;'
6;
274.000 May 1 1947
214.32. Connects Chico, Oroville, Marysville, Sacramento, Yuba total. San Crk Lt&Pow lstM$339.000 tf _
City.
Ben Lt&Pow lstM3150,000 tf6%
139.000 Sept 1 1950
Colima. Meridian and Woodland. Also connects Suisun and Vacaville in
Bonds.
-4185 cash held In sinking fund of Coast Counties Light & Power
Bolan° County. Gauge, 4 ft. 84 in. Rail, 60 & 70-1b. T.
Callable 1074 and int. on any int. date. Annual cumul, sinking fund
OFFICERS.-Pres., George F. Detrick; V.
-P.. Sidney M. Etirman; of I% of bonds out. began Juno 30 1911. $151,000 held in sink. fund. V.
-V. 112, p.253, 563, 1400, 2414; V. 113, p. 2080; V. 114, p. 2360.
95, p. 681. Sink. fd. on Big Creek Lt. & P. bonds, $3,600 per ann. began
Mar. 30 1903: $65,000 bonds and $2,001 cash in sink. fd. Sink. fund on
San Benito Light & Power bonds of 1% of bonds out. began June 30 191.5.
PENINSULAR RAILWAY.
Entire stock, except directors' shares, is owned by Southern Pacific Co. $11,000 bonds and $80 cash in fund.
Dividends.
-6% per annum is being paid on first pref. stock. In 1920
ORGANIZATION.
-Incorporated in California June 30 1909 as
paid divs. of 2% on 2d pref. stock.
solidation of various electric railways in which the Southern Pacific isa con
interEARNINGS.
-For years end. Dec. 31 (not incl. Union Trac. Co.):
ested, namely the Peninsular RR. Santa Clara Inter-Urban RR. (V. 83
YearGross. Net (aft.Tax.). Int..&c. Deprec*n. Surplus.
p. 380: V. 87. p. 545) and the San Jose-Los Gatos Interurban Ry.(V. 76.
1921
$748,270
$265,237
P. 1409: V. 89. p. 104).
$83,956
$56,703 $124,578
637,001
1920
219,950
83,355
57.598
Fare Increase.
78.998
-In Oct. 1920 the company was auth. by the Calif.
Property.
-Has one hydro-electric and two steam plants; combined
Commission to raise fares 20%. V. 111. p. 1753. But compare V. RR'
113. capacity, 3,346 h. p.; 109 miles transmission lines and 307 pole miles. Gas
P. 850.
plants in Santa Cruz, Watsonville, Hollister and Oilray.
STOCK AND BONDSInterest. Outstanding. tfaturity.
OFFICERS.
Date.
-Pros. & Gen. Mgr., S. Waldo Coleman: V ..P.. .T. D.
Stock $12.000,000 ($100)_
$12,000,000
Grant; Sec. & Treas., LW.Pryor.
-V. 114, p. 2474; V. 115, p. 187.
San Jose-Los Gatos Inter. 1st 1903
5 M-N21
500.000 May 21 1923
-Controlled by the Coast Counties Gas & Elec. Co.
Union Traction Co.
mortgage $2,000,000 ($500 Interest at Central Trust Co., San FranAt a meeting of the bondholders of the Union Traction Co. in Aug. 1915
& S1.000)
c5tfj cisco. Trustee.
Bonds.
-A sinking fund of % of net earnings, but not less than $10,000 a bondholders' protective committee was appointed to investigate the condition of that corporation. V. 101, p. 616, 816. A majority of the bondper annun, began Jan. 1 1905.
holders have signed an agreement, without surrender of any foreclosure
EARNINGS.
-For year ending Dec. 31:
rights, to the effect that property is to be managed as heretofore and couNet (after
Gross
Other
Interest, Balance
pons to be paid as earned. One coupon was paid Sept. 30 1919 and another
Calendar YearEarninas. Taxes).
Income, Rents.&c. Deficit. Sept. 1 1920. None since.
1921
$344,302 df$18,120 $35,968 $380,384
-In Aug. 1918 was auth. by the Calif. RR. Comm. to
Fare Increase.
8362,536
1920
354,417
34,048
16,878
334,643
323,717 charge a 6-cent fare in Santa (7ruz and on the linos between that city and
1919
306,381 df.47,564
35,859
315,633
327.338 Twin Lakes and between Twin Lakes and Capitols. V. 107, p. 803. On
ROAD.
-Operates 65.420 miles of first main track, 9.648 miles second June 9 1920 the Comm. auth. a further increase to 10 cents in cash fares
track and 5.699 miles of sidings, turnouts, &c.; total, 80.767 miles. Also and the sale of 8 tickets for 50 cents. V. 111. p. 75.
owns 16.27 tn. first main track, leased to Sou. Pac. Co., and 1.26 m. main
Interest. Outstanding. Maturity
Date.
BONDStrack operated by San Jose RRs. Serves San Jose, Saratoga, Los Gatos. Union Trac Co let M $750.-f 1905
5%
607,000 Feb 1 1935
Campbell, Cupertino, Monta Vista, Mayfield and Palo Alto, all in Santa
000 gold ($1.000) _c&r ntfl Int. at Union Tr. Co.. San Fran.. Trustee
Clara County. Standard gauge. 60 and 70-lb., mostly T rail. 41 elecThe bonds have a skg. fund from 1910
tric motor cars (including 2 express and 6 work), 2 trail cars and 1 electric out.; from 1915 to 1920 1% of bonds out., andto 1915 of 4% of bonds
from 1920 to maturity 2%
locomotive.
of bonds out; said fund to be used to redeem the bonds,. Are subject to
OFFICERS.-Pres., Paul Shoup, San Francisco; Soc. & Aud., 11, A• call at 110 and Int. $100,000 bonds are reserved for betterments and
Culloden, Los Angeles; Treas., M. S. Wade. Los Angeles; Asst. Sec., G. L. extensions $43.000 have been retired.
EARNINGS.
-For cal. your 1921. gross, $93,267: net, after taxes,
King, San Framisco.-V. 111, p. 1753; V. 113, p. 850; V. 114, p. 2241.
$12,443. In 1920, gross, $35,787; net, after taxes, $8,602.
-Operates 18 miles of track In Santa Cruz and to Capitols
ROAD.
SAN FRANCISCO NAPA & CALISTOGA RY.
Standard gauge.
-V. 101, p. 616. 846; V. 107, p. 803; V. 111, eu. 75.
ORGANIZATION.-Incorp. Nov. 10 1911 in California as successor
to
the San Fran Vallejo & Napa Valley RR., sold at foreclosure on
Oct. 30
1911, V. 93, p. 1535. Also acquired the Vallejo Benicia & Napa Valley
SAVANNAH, GA.
• -RR. Has a 20-year traffic agreement with Monticello SS. Co.. providing
SAVANNAH ELECTRIC Sc POWER CO.
for daily schedule of at least six round trips between Vallejo and San Fran.
ORGANIZATION.-Incorp. in Ga. Aug. 12 1921 to acquire all the
Purchases power from Groat Western Power Co. under contract. Franchise properties formerly owned
or controlled by the Savannah Electric Co.
runs to 1952 or later.
In Dec. 1915 the California RR. Comm. issued an order fixing the repro. (for history see "Electric Railway" Supplement of April 30 1921) as per
pl in outlined
duction cost of the property, less depreciation, at $1,010,846. This however effective Nov.in V. 113, p. 181. The new co. took over tho properties
11921. V. 113, p. 2081. Franchises for both street railway
was not accepted by the on.
and electric-lighting plant are perpetual.
STOCK AND BONDSDate.
Interest. Outstanding. Llaturity.
Capitalization on completion of reorganization will be as follows:
Stock $2,000,000
$731,700
STOCK AND BONDS- Date.
Interest.
Outstanding Maturity.
let M $1,000,000 gold ($1001 1911
6 J-D
531,300 Dec 1 1936 Common ($100)
$2,500,000
$500 & $1,000) callable at Int. at Mercantile Tr. Co., San Fran., True,, Prof.6% cum. after Oct. 1 1926
105 & Int. on any lot day c11 or at office of E. H. Rollins & Sons. N. Y.
($100)
1,000,000 Oct'22,3%
Debentures
-unsecured non-} 1911
599,100 Dec 1 1936 Debenture stk. ser. "A" 8%
5%
foreclosable $610.000
cum ($100)
1,300,000 Oct:22.2%
Bonds.
-$33,000 let M. bonds are held in treasury, $63,700 are in sink. lst&ref.M.ser."A" $2,500,000 1921 74 g. A-0. 1,750,000 Oct. 1 1941
(d. and remainder are reserved for additions and extensions at 75% of cost ($100. $500 & $1,000) gold }Commonwealth Trust Co., Boston, trustee,
under certain restrictions. Annual sinking fund of I% of bonds out began
c*&rstf)
Say, Elec. 1st cons mtge $3,-{ 1.902
5 g J-J
In 1914. V. 93, p. 1535. $10.900 5% debentures are held in treasury.
2,147,000 Jan. 1 1952
500.000 gold ($1,000 and Int. at American Trust Co., Boston, trustee.
EARNINGS.
-For years ending Dec. 31:
c*tf
Gross.
Calendar YearNet (aft. tax.) Int., &c.
Surplus. Sat 0 ) & Isle of IT 1st M1 1897
5T
0hlin
4 Q-J
1,000,000 July
$129,030
1921
$86.288
$395,156
$42,742
g(11,000) 81.250.000_c*ntf f Int. at Central Trust Co \Tow York, 1 1947
trustee
127.728
1920
61,950
350,874
62.778 Car trust certificates
133,642




OCT., 1922.]

ELECTRIC RAILWAYS

131

the greater part of the commercial electric lighting and power business
in the Puget Sound district, including the cities of Seattle, Tacoma, Bel'Ingham and Everett; does substantially all the electric street and interurban railway business in the Puget Sound district, except in Seattle. Estimated population, 600.000. Serves 6 counties and 147 communities between the Canadian boundary and Olympia with light and power. Directly or through its subsidiaries, it owns and operates four water-power
and five steam-power plants, with a total electric generating capacity
of 115.900 kilowatts. Also owns or controls additional undeveloped
water power sites with a capacity of more than 100,000 horse-power.
Operates the street railways in Bellingham and, through its subsidiaries
in Tacoma and Everett, also the interurban electric railroads between
Tacoma and Seattle, between Seattle and Renton, between Tacoma
and Puyallup, between Everett and Seattle, between Everett and Snohomish, and between Bellingham, Mount Vernon and Sedro-Woolley,
a total of over 286 miles of track. Does the entire gas business of Bellingham and the entire steam heat distributing business of Seattle.
Principal franchises expire as follows: In Seattle electric lighting and
power, 1952. In Tacoma, railway, 1939; power, 1930. In Bellingham.
railway, 1941 (minor railway, 1934); light and power, 1940; gas. 1941. In
Everett, railway, in 1944 and 1950; electric light and power. in 1950.
Interurbans chiefly on private right of way.
-On Aug. 10 1916 the city of Everett took
Pale of Water Plant to City.
over the water plant of the Everett Ry., Lt. & Water Co. for $994,000.
were used to take up the $500.000 Everett Water Co. 1st 5s.
Proceeds
due 1921. and 2497,000 of the $675,000 Everett Ry., Lt. & Water Co. 1st
M. 5s, due April 1 1925.
-On July 20 1921 the Wash. Supreme
City Regulation of Jitneys Upheld.
Court sustained the Hight of the city of Seattleto regulate jitney traffic on its
streets. V. 113. p. 961. A petition on behalf of jitney operators for a
rehearing was denied on Sept. 21921. V. 113, p. 1252.
SCRANTON, PA.
-In April 1919 315.000,000 5%
Scge of City Railway System to Seattle.
SCRANTON & WILKES-BARRE TRACTION CORPORATION.
utility bonds of the city of Seattle were delivered to the co. and the co.'s
A holding company.
conveyed to the city
ORGANIZATION.-Incorp.in Virginia in 1913 as a reorganization (per street railway property, within the city limits, was been deposited with
have
plan V. 96, p. 1701) of the Lack. & Wyom. Valley Rapid Transit Co. (sold which now owns and operates same. The bond.s the co.'s bonds and notes
securing certain of
at foreclosure), which company owned all the securities of the Lackawanna the trustees of the mortgages
charge upon the gross
They
& Wyoming Valley RR.. the Scranton & Northeastern RR., the Lack& In substitution for the property sold. of the are a superior to all charges
city,
wanna Tunnel Co. the Central Valley RR. and the Wilkes-Barre RR .ernings of the entire railway system
some $650.000 of prior bonds of a like
These latter five companies were merged into the Lack. & Wyom. Valley except interest and amortization of
p. 971.
RR. Co. (the operating company) with $2,150,000 stock and $5,000.000 character. V. 108. p. 1391. 2630: V. 109. p. 371: V. 110.and Int. of Bonds
Attitude of Mayor Caldwell on OsMon of Meeting Prin.
bonds, all of which is owned by the Scranton & Wilkes-Barre Tree. Corp
-V. 112, p. 373.
and deposited under that company's refunding mtge.. subject to $888.000 Issued in Payment for Street Railway.
Decision Bearing on Payment of Prin. and Int. of St. By. Bonds.-See
L.& W. V. Rapid Transit coll, trust bonds. The Railroad Co. owns all the
V. 112, p. 2191: V. 113, p. 418; V. 114, p. 1064.
stock of the Lack. & Wyorn. Valley Pow. Co. Power franchises perpetual
0
7
In April 1921 brought out 313,734.000 71i, gen. & ref. mtge. bowls to
-The plan for a sink. fund (815.000
Sinking Fund and Redemption Plan.
-year notes, due June 11921.
per ann.) and the establishment of a call price of 105 and mt.for the Lacks. provide for the retirement of $13.676.500 7% 3
8s Wyo. Val. Rap. Tr. Co. coll. Ulm; 5'% bonds of 1901 became effeclve V WI. n. 1712
In April 1922 issued $1.100,000, and in Oct. 1922 an additional $1,300,000
Nov. R 1917. V. 10;,. P. 2094.
pravide funds to retire floating debt incurred for
In Sept. 1922 the Penna. Corp. Comm. approved an increase in the 7% prior pref. stock toAte. V. 114. D. 1892: V. 115 . 1838. .
construction purposes.
co.'s auth. capital stock from $2,500,000 to $5,000,000. V. 115, p. 1211.
up,erv
a ruervst. ilittstartaino. Maturily.
Date.
'
!Maya. Outstanaino.
Liao
STOOK AND BUN DSdrUUK AND lit./N LSSee text
$20.123 805
-.T 15
$2400000
Common $25.000.000 ($100)__
Common
.
Se''ext
11.793,033
See text
-.T 15
901.700
See text
s15.000.000 6% cum ($100) ___...
Pref cum
Pr
5,503,000 Oct'22,1%
Aug 1 1951 Prior prof $10,000,000 ($100)_ ......_
Q-15
813.000
5%
L & W V Rap Tr Co coil trust 1901
2,000,000 Sept 1 1925
c*tf Int. at Guaranty Trust Co. N. Y.. trustee
5-year Aold notes ($100, $5001 1920 .8 M-S
5% gold bonds
Aug 1951
2.007 900
_Ott(Dexter. Horton Tr. & Say. Bk.. Trustee
and Si (1001
Refunding mtge (see text) g 1913 5%
850,000 Sept. 1 1926
8 g M-S
c*tf Guaranty Trust Co.. New York, trustee
-year gold notes ($100, $5005 1921
5
($1.000)
917.000 Apr 11934
c Dexter Horton National Bank,Seattle, Trus.
and $1,000) gold
Col/ trust sink fund gold /xis 1914 6g A-0
g M-N 13.731.000 May 1 1941
Guaranty Trust Co.. New York trustee
&j 1921
734
Gen & ref M Ser "A"(3500
$1.000.0110 ($1.000)____c*
annuirn until June 30 1917 and 7% there
c*&r*_tf Old Colony Trust Co., Boston, trustee.
&rock.--Divq. on pref.
81.000) gold
3.990.000 Mar.) 1940
after. Cumulative from June 30 1914. Pref. stock is red. at 105. Pref. Pacific Coast Power 1st rntgel 1910 5 M-S
Harris Tr.& S. Bk.. Chic.. trus.• or at
$10.000.000 gold ($1.000) Int. at
and corn, have equal voting power.
Harris, Forbes & Co.. Tnc.. N. Y.or Bost.
Bonds.-iteranding intg,,. bonds are callable at 105 and int.; sinking fund
c*&r (closed mortgage)____
3.170.000 Feb. 1 1930
of t4% per annum or ootstandinsr bonds began Nov. 1 1917; $328.000 Seattle Elec Co 1st M $6,000,- 1900 5 g F-A
are reserved to retire underlying bonds. The mortgage was authorized
000 (81.000) gold_ _ _c*ntf Int. at Boston Safe Dep. & Tr. Co., trustee
5.270.000 Aug 1 1929
originally for $5,000.000, but was subsequently closed at $3.000,000. The
do cons & ref $25.000.000 1907 5 g F-A
L & W. V. Rapid Transit 0o.5% bonds are secured by deposit of $1,850.cs&rtf Int. at Old Colony Tr. Co., Boston. trustee.
($1,000) gold
2.683,000 June 1 1933
000 stock and $5,000,000 1st M.5s. due 1951,of the Lack.& Wyom. Valley Pug Sd Pow 1st M $4.000.0001 1903
5 g .1-D
RR. Co. Under a supplemental indenture, dated Nov. 1 1917, a sinking
sold ($1,000) guar_ _est?(Int. at Old Colony Trust Co.. Boston. trust
2.716.000 Mar 1 1939
fund of $15,000 per annum which began May 1918 was created and the Seattle-Everett mtge 31.000,-1 1909
5 M-B
bonds were made subject to call at 105 and interest. V. 105, p. 2094.
000 g ($1,000, &c.)_..c*&rtf(Int. at Old Colony Trust Co.,Boston, trustee
160.000 April 1 1925
As of Oct. 1 1922 all but about $24,000 of the bonds had been stamped Everett By, Lt & W 1st M 1905
5 g A-0
by the trustee with the callable feature sinking fund agreement. V.
$2.000,000 g ($1.000)__ctf lInt, at Bankers Trust Co., N. Y., trustee.
See text Feb 1 1941
105, p. 2455. The coll. trust 6s of 1914 are red. at any int. period at 100
5 F-A
do
cons M $4.000.000 1909
and accrued int. Sinking fund (cumulative) of 1% of outstanding bonds
c*&r Int. at American Trust Co., Boston, trustee
gold
annually from March 1 1916 to March 1 1933. These bonds are secured by Pug Sd El 1st cons M 35,500,4 1903 5 g F-A
1.339,000 Feb 1 1932
the same collateral as the first and refunding mortgage. V. 98, p. 1246.
c*tflIntia
515.000.ooo n lt Old Colony Trust Co.,Boston, trustee
000 gold (V .000)
-6% was paid on preferred stock from July 1913 to an incl.
Dividends.
See text
do cora& ^f M
April 1917. In July 1917 began paying 7% and same rate has been paid Tacoma RySt' 1st M g OH ,- 1899 5 g A-0
1.236,000 April 1 1929
regularly since.
000)3 500,010 not redc*ntf Int. at Old Colony Tr. Co., Boston. trustee
-Years ending Dec. 31:
EARNINGS.
See text July 1 1927
Pacific Tract 1st M $5.000,- 1907 5 g J-J
Pref.
Balance.
Bond
Operating Other Inc. Exp. et
Cal.
c* Int. at Old Colony Tr. Co., Boston, trustee
000 gold (31,000)
Interest,
Dios.
Surplus
Year- Income. (Hold.Co.). Taxes.
1.339,1101 Nov 1 1935
1905 5 g M-N
Ry
859,936 $151,006 Whatcom Co geld& Lt 1st M Int. at Old Colony Tr. Co., Roston, trustee
$207,063
$12,797
$371
1921 ___:$130,431
32.500.000
($1.000) tf
88.237
56,616
207,812
10.343
303
1920 ___ 302,705
517,000
Notes payable, Aug. 31 1922_
138,680
55,738
208,750
214
1919
9.865
412,819
-In addition to the amounts of corn. and pref. stock reported
STOCK.
ROAD.
-Lackawanna & Wyom. Vail. RR. operates 22.75 miles of first
-bearing receipts for $4,620 corn.
track. 20.74 miles of second track and 8.61 miles of yard track and sidings. outstanding above, there are non-interest
pref. is red. at
Double track, laid with 90-lb. rail. Standard steam construction, private stock exchangeable at par for stock certificates. Prior stock is owned by
at 125. $1,466,800 corn,
right of way. A standard-gauge tunnel, about 5.000 feet long, was com- 110. Prof. stock is redeemable classes of stock are non-taxable in Mass.
pleted In Scranton in Oct. 1905. This removed the only heavy grade on Public Service Inv. Co. Both due 192.5 are red. as a whole on any int.
Notts.
-year 8% notes
-The 5
the line between Scranton and Wilkes-Barre. 27 passenger. 72 freight cars
date on 40 days' notice at 103 in 1922. 102 in 1923, 101 in 1924 and 10034
4 motor express cars, 1 motor work car and 2 electric freight locomotives
thereafter up to March 1 1925.
Freight and passenger business is exchanged with all railroads entering the
Bonds.
-The gen. & ref. mtge. 734% bonds, Series "A" are secured by
terminal cities.
Street Ry. 5% bonds. Additional
OFFICE RS.-Pres.. Wm.C. Sproul: Chairman Exec. Comm.. Frank R. deposit of 313.734,000 City of Seattle of the cost of additional pronerty
bonds issuable in different series for 75%
-P. & Sec., S. C. !Rivers; Treas., F. W.
-P., W. H. Lippincott; V.
Ford; V.
A sinking fund of $100.000 per
-V.08. p. 1158. 1246, 1539: V. 101, IL 1190; V. 105, 1). 910, 1309. and extensions under certain restrictions.
Potts.
purchase of
annum. beginning March 10 1923, will be applied toon any int. these bonds
2094; V. 115, p. 1211.
date up to
the call price. Red.
If offered at not exceeding
to 101 on Nov. 1
May 1 1926 at 105; thereafter decreasing 134% annually thereafter at 100.
-A holding company
CO.
KEYSTONE UTILITIES
1933; and thereafter to and incl. May 1 1940 at 101, andNew York.Boston
-Incorporated in Delaware Nov.24 1916. Controls Pennsylvania 4
ORGANIZATION.
-mill tax refunded. Interest is payable in
the Hanover Power Co., Hanover & McSherrystown Street Railway Co• and Chicago. V. 112. D. 1742.
(see this co.), Gettysburg Electric Co., DuBois Electric Co.. DuBois Trac-On 1st M.,1% of bonds outstanding;
-Sinking Fund.
Seattle Electric Co.
311922; calltion Co. (see this co.), Susquehanna County Light 86 Power Co.
$1,830,000 bonds were held by the trustees not canceled Aug.
These companies do the electric light, power and part street railway busi- able as a whole or in part for sk. fund on any int. date at 110 and int The
ness In Hanover, Gettysburg, DuBois, Montrose. Susquehanna. New Mil- consol. & ref. M. bonds can be called in amounts not less than 11500.000.
ford and other communities in York. Adams, Susquehanna and Clearfield and in smaller amounts for sk.fund purposes at 105 and int. on any int. day.
counties. Pa. The properties are operated by the ignited Service Corp.
Sinking fund of 1% per annum started Oct. 11901; $1,175,000 of the bonds
Brooks & Co., Scranton, In Dec. 1916 offered the unsold portion of the were held by trustee for sinking fund Aug. 311922. 51.344.000 are canceled
$1.225,000 let & consol. Seat 914 and int.. with 50% allotment of stock. and $7.084.000 reserved to retire underlying bonds. V. 85. p. 222: V. 92,
V. 103. p. 2341.
189. Both mortgages are closed
STOCK AND BONDS- Date.
Interest. Outstanding. Maturity. P•Puget Sound Power Co.
-Mortgage Is closed. Both prin. and int., as well
exchanged
Stock $5.000,000 ($50)_
$1,500,000
as sk.fund payments,are guar. by the Seattle Electric Co. Can be fd of 1%
lst & consol M $7.500,000 gl 1916
1.225,000 Nov 1 1941 for Seattle Electric consol. and ref. 5% bonds, par for par. A sk
5 g F-A
($200,$500 and $1.000)_c*(Interest at Scranton Trust Co., trustee. per ann. of bonds outstanding commenced Mar. 11906;$600,000 have been
-Secured by pledge of the capital stocks, contracts and other
Bonds.
to call as a whole (or in part for sk. fd. at 110 and
securities of the underlying cos.; also by lien on other property of the co., canceled. Subjectday.
int.
Incl. Impts. to be made shortly with part of the proceeds of present issue. int. on any
Seattle-Everett bonds are a direct obligation of the Seattle Elec. Co.. but
Sufficient bonds reserved to retire certain underlying liens which In amount Pacific Northwest Traction Co. has agreed to pay prin., int. and sinking
are less than the present issue. No bonds to be issued for more than 87%% fund payments on these bond.s, and has mortgaged its entire property as
of total expenditures, nor unless annual net earnings of the combined prop- security. They are additionally secured by the pledge of the entire issue
erties are 134 times the interest charge, incl. bonds to be Issued. Red. at ($200,000) of stock of the Puget Sound International Ry. & Power Co. and
10234 and int. In whole or part to Nov. 1 1931 and at 105 and int. thereafter. $500.000 consol. mtge. bonds of the Everett Ry.. Light & Water Co The
PROPERTY.
---System Includes 3 electric generating stations (aggregat- mortgage is closed. A sinking fund of 1% on amount of bonds out began
ing 8,000 h. p. capacity); a hydro-electric system at Susquehanna. Pa., ca- Mar. 1 1914. $381,000 not incl. in amount reported outstanding is held in
pacity 600 h. p.: 75 miles of high-tension transmission lines,connected with sinking fund uncanceled. Bonds are callable as a whole or in part for s. f.
local distributing lines; 20 miles of street railway trackage, cars. &c.
at 105 and int. See V. 88, p. 1062: V. 92. p. 1244.
-P., E. J. Lynett.-V. 103.
-Of the 82.000,000 M., $825,000 are reOFFICERS.-Pres., Frederick J. Platt; V.
Everett By., Lt. et Water Co.
served to retire prior liens. $675,000 were issued but $504.000 were retired
p. 2341.
In 1916 through balance of proceeds from sale of water plant to city of
Everett. $11,000 additional have since been canceled. Mortgage closed,
SEATTLE, WASH.
ex:Apt for refunding. No skg. fund, but bonds subject to call on any int.
date upon 60 days' notice at 10716 and int. Of the $4,000,000 consol. M.
PUGET SOUND POWER & LIGHT CO.
Sound Inter-Was formerly known as the Puget Sound Traction. $985,000 is reserved for prior liens, $454,000 owned by PugetTraction Co..
ORGANIZATION.
in 1920. In orp. national Ry. & Power, 3480,000 owned by Pacific Northwest
Light & Power Co. Name changed to present title early In Mass. on July 9 340.000 Is in sink, fund canceled and $2,041,000 are unissued. Callable as
(re-inmrp.
Jan. 2 1912 in Maine per plan in V. 94, p. 124
(or in part for sk. fd. at par and int. on any int. day. Sink. fd. of
owned
1912), and has purchased and consolidated the properties formerly Power a whole annum of bonds out began May 11914. V. 88. p. 1061.
Sound
by the Seattle Electric Co., Pacific Coast Power Co.. PugetLt. Co. Also 1% per Sound Electric Ry.-Of the 1st consol. M..$1,236,000 are reserved to
Puget
Ry. &
Co., Seattle-Tacoma Power Co. and Whatcom County
retire a Mo. amon,,t of Tacoma By. & Pow. Co. hood; aid $1 lOs 000 have
owns most of the stock of the Puget Sound Electric By., the Pacific Traction been canceled. Callable as a whole on any int. date at 110 and int. A
CO.. and all
Co., Western Washington Power Co., Diamond lee & Storagein turn owns skg. fd. of 1% of bonds certified, plus 5% per ann. on bonds purch for sk. hi.
which
the capital stock of the Pacific Northwest Trac. Co., & Power Co., lessee bega" on Jan 1 1907. Sufficient of consol. and ref. bonds are reserved for un,
the capital stock of the Puget Sound International Ry.
bolds,the remainder is issuable at 80% of.cost for addu's & impts
of Everett Ry., Light & Water Co. Through ownership or control, does derlying

-The 6% pref. stock is call at 120 and is cum. after Oct. 1 1926.
Stock.
Debenture stock may be issued from time to time in series which may
bear different div. rates and red. price and carry a sink fund but will be
NI WM.
entitled to the same preferences and priorities.
-The 1st & ref. bonds may be issued in different series from time
Bonds.
to time under certain restrictions. Call, all or part on any int. date after
1% in
Oct. 1 1931; during 1932 at 105, and thereafter decreasing 14 ofannum
each year to 101 in 1940, and at 100 in 1941. Sink,fund of 2% per 1 1923,
on the total amount of Ser."A" bonds issued, first payment Nov. at call
will retire bonds at 105 up to and incl. Oct. 1 1932 and thereafter
price. Int. payable in N. Y.. Boston & Chicago. V. 113, p. 1575. Of
the Savannah Elec. Co. 1st cons. bonds, $1.000,000 are reserved to retire
a like amount of bonds of the Savannah Thunderbolt & Isle of Hope Ry.;
$353.000 are held in treasury. Call, in whole (or in part for sinking fund)
at 110 and int. on any interest date. The co. binds itself to apply at least
$20.000 per annum, beginning 1906, towards improvements or extensions.
or in the purchase of bonds. Of the Savannah Thunderbolt & Isle of Hope
Ry. bonds, $250,000 have been canceled. Sinking fund 2% per annum
11111111111
111,
began Jan. 1 1918.
-For 8 mos. end. June 30 1922, gross, 31,083,291; net.
Latest Earnings.
after taxes, $377,356; int., &c., $186,103: bal. stir., $191.253.
'
-Operates 63.16 miles of single track. In Sept. 1917 received
ROAD.
auth. to extend its line to Port Wentworth. Construction has been begun
Gauge, 5 feet. Power stations have 12,300 k. w. capacity. 80 passenger
and 17 other cars.
-Chairman, George J. Baldwin; Pres., Howard C. Foss;
OFFICERS.
-P., H. H. Hunt; Sec. & Asst. Treas., W. H. Kennedy: Treas., H. B
V.
-V. 113, p. 1575, 1676, 2081.
Sawyer; Mgr., Robt. C. Brooks.




132

ELECTRIC RAILWAYS

Tacoma Railway & Power Co.—$264.000 are held by Puget Sound Electric
Co. Are not subject to call.
Pacific Traction Co.
-3500,000 were issued to retire a like
First M. bonds; entire 8500,000 now in treas. Remaining amount of old
for future additions and improvements, under restrictions. bonds reserved
Subject
at 105 and int. at any time. Sk. fd. of 1% of bonds outstanding to call
began
Jan. 1 1914. Bonds are guar. p. I. & sink, fund by Puget Sd. El. Ry.
Whatcom County fly.& Light Co.—Callable as a whole on any int.
at 105 and int. Sic. fd. of 1% per ann.of bonds outstanding. if earned, date
commenced Nov. 1 1906: on Nov. 1 1911 became obligatory. $391,000 bonds
have been canceled of which $264,000 by sk. fd. Mortgage is closed.
Diridends.—An initial div. of 1.SS % was paid on the 7% prior pref. stock
in April 1922. On 6% pref. 1 % quar. from organization to
In July 1915 paid only Y %,same rate quar. to and incl. Jan. April 1915.
)
,
1918.
to July 1919, when %% was paid. Same rate paid quar. to July None
when 13.6% was paid. V. 112, p. 2643. Same rate quar. to and 1921.
Oct. 1922. In Feb. 1922 the directors declared a stock dividend of incl.
20%
payable In 7% prior preference stock at par, in adjustment of balance of
dividends accumulated on the Pref. stock after the payment of an
cash dividend of *2 50 on the unstamped and 25 cents per share extra
on the
stamped stock. V. 114, p. 739.
On coin, first div.-1%—paid April 1912; July, 1%; Oct., 1%. In
1913 4%. In 1914 Jan., 1%; April 1%; July. 1%. October dividend
passed (V. 99, p. 8951: none to July 1922, when 1% was paid. In Oct.
1922,
EARNINGS.—For years ending June 30:
Year—
Gross.
Net aft. Taxes. Other Inc. Interest, &c. Bal., Surp.
1921-22 ___810,138.086 *4,370.358 y$736,117 $2.495,789 *2,610.685
1920-21 ___ 10,203,194
4.260,461
y750,000
2,619,293
2,391,169
y income from City of Seattle utility bonds.
PROPERTY.—Power stations have 115,900 k. w. capacity. Also purchases power (Bellingham Division) from Western Canada Power Co.
street and interurban railways 284 miles equivalent single track. Gauge
electric, standard; cable. 3 ft. 6 in. and 3 ft. 279 motor cars, 315 freight.
mail and miscellaneous and 11 locomotives.
OFFICERS.—Chairman of Board, Frederick S. Pratt; Pres., A. W
Leonard; V.
-P., W. H. McGrath; Clerk, William T. Crawford:
B. Howe, Seattle: Treas., Henry B. Sawyer: Gen. Mgrs.. StoneSec., James
Sr Webstat
Mgt.,Assn.—V. 114. p. 1535, 165^ '")". 2116, 2832; V. 115, p.989, 1838.
SEATTLE & RAINIER VALL.
KY.
Possible Purchase by City.—For terms upon which co. would
to sell its street railway property to the city of Seattle see this be willing
section of
April 24 1920.
ORGANIZATION.—Incorp. in Del. on June 8 1916 as successor to the
Seattle Renton & Southern Ry., which was bid In at foreclosure
sale on
May 12 1916 by Attorney John 0. Higgins. representing the bondholders
(there were 8825,000 1st 5s outstanding) and common claimants under
tilt
plan of reorganization. V. 102, p. 2078.
In Apr. 1917 reached a settlement with city over franchise difficulties
and co. was awarded a judgment of 841,700 against city because
of changes
In grades on Rainier Ave.. &c.
Fares.—On May 23 1919 was auth. by the Wash. P. U. Comm. to increase fares in Seattle from 5 to 6 cents with a 2
-cent charge for transfers,
effective June 1 1919. V. 108, p.2331. Compare V. 108. p. 1276.
Effective June 12 1920 fares were raised to 7 cents. The charge on the
municipal
lines being increased to 10 cents, the co. in July 1920 filed a new
tariff
raising fares on Its lines to 10 cents; wIth 15 metal tokens for 81.
V.
p. 74. This rate became effective July 20 1920. V. 111, p. 793. 111.
On
Jan.8 1921 a new tariff providing for 12 tokens for $1 was put into effect.
Has *250.000 COM, stock and $110.000 pref. stock (par 8100) auth.
and
outstanding.
o has outstanding 8118.000 6% 1st M.
5% Gen. M. bonds and *400.000 6% Income M. bonds.bonds, $577.500
EARNINGS.—For year ending Dec. 31 1921, gross, 8509,705; net,
8142.814. In 1020. gross. S477.393• net. 8106,663.
ROAD.
-24.863 miles of track. from Seattle to Columbia City. Hillman,
Rainier Beach and Renton. Rails, 60. 70 and 75-lb. T.
34 passenger cars, 19 freight cars. 2 locomotives and 1 lineStandard gauge.
car.
OFFICERS.—Pres., Marshall E. Sampsell, Chicago; V.
-P., E. M.
Mills; Gen. Mgr., Walter Brown: Treas., E. W. Gross; Sec., Leroy J.
—V.108, p. 380,785, 1276, 2331: V. 110, p. 79. 1291; V. 111, p. 74, Clark.
793.

SHAMOKIN, PA.

[Vol,. 115.

STOCK AND BONDS—
Date. Interest. Outstanding. Maturity.
Common stock. 22.000.000--8700.000
Pref stock, 7%.85.000.000_-Q-M
1.516.000 Sept.'22, 1(
1st & ref M 820.000.000 gl 1917
1.124.500 Mar 1 1947
5 g M-S
($500 & $1.000)c*
I Interest payable in Milwaukee or N. Y.
Gen M notes, Ser "A",($100,1 1920
1.200,000 Mar 1 1923
M-S 7
$500 & 31.0001 gold_c*tf--'Int. at Cont'l. & Comm. Tr.& S.Bk.,Chic.
Underlying Liens—
Pond du Lac t ity & L mtge 1899 5 g
$133.500 July 1 1924
$250.000 ($500) g-r&c*ritf
Int. at Nat. Exch. Bank, Milwaukee.
East Wise Ry & Lt 1st M g 1903
5 g A-0
1.182.000 Oct 1 1923
($1.000)
c*tf Int. at First Say.& Tr. Co., Milw., Trustee.
Sheboygan Elec ref& impt M, 1916 5 g J-J
1.548.500 July 11940
g (31.000 & $500)____c*tf. Interest payable in Milwaukee or N.Y.
Sheb Ry & Electric _ _
__
28
BONDS.
-82.965,000 East. Wisc. Elec. Co. 1st & ref. M.5% bonds
reserved to retire prior liens. Additional bonds may be issued for 75%are
of
the actual cost of permanent additions and improvements st lifier conservative •
restrictions. Callable at 105 and int. since Mar. 1 1922 or any int. date.
Sinking fund: 1% per annum of bonds outstanding in 1922 to
1931:
>a s 1932 to 1941; 2% 1942 to 1946; to be used for retirement
s
for exts. and addns. against which no additional bonds may of bonds or
be issued.
Trustee, Wisconsin Trust Co., Milwaukee. V. 104, p. 1145.
The Eastern Wisc. Ry. & Lt. Co. 1st 5s are red. on any int. date
and int. on 6 months' notice. The Sheboygan Elec. ref. & impt. at 103
5s are
callable at 105 and int. since July 1 1921 on any int. date. Sinking
fund 1% per ann. of bonds outstanding from 1920 to 1930; 1
1931 to
1940; 2% 1941 to 1945: to be used for retirement of bonds or for extension!'
and additions. Trustee, Wisconsin Trust Co., Milwaukee.
Notes.—The 3
-year 7% notes due Mar. 1 1923 are secured by geresal
mortgage on the entire property. Additional notes may be issued under
certain restrictions. Red. all or in part on any interest date upon 4 weeks*
notice at 100 and int. V. 110. p. 1186, 1289.
Dividends —Diva. on pref. stock were begun In June 1917
EARNINGS—Combined statement of consolidated companies
months ending Feb. 28 1922. gross. *1,195.315: net, after maint. &for 12
taxes,
8507.005 int. charges. $204.296; bal., surplus. $302.798.
PROPERTY—Gas plant and 42 miles of gas mains in Fond du Lac,
electric-distribution system and 3 electric-generating plants. combined
capacity of 6.500 h. p. in Sheboygan, Fond du Lac and Oshkosh;street railway and interurban lines over 100 miles of single track. The greater part
of the interurban lines is laid chiefly with 70
-lb. T rails, and with the exception of that portion from Oshkosh to Neenah and within city limits is located
on private right of way. Additional 5,000 k.w. steam turbine unit is to be
installed, and high-tension transmission lines will be built Immediately.
Also hydro-electric power sites on the Wisconsin and Wolf Rivers
nf estimated development of over 20,000 h.p. A gas plant at Fondcapable
du Lac
with a 500,000 cu. ft. holder was placed in operation In 1918.
OFFICERS.—Pres., Joseph H. Brewer; V.
-P., H. R Ellis: Treas..
%Allis 3 Ripley' Sec. Blaine Gavett. Under management of fielseY.
Brewer & Co., Grand Rapids, Mich.—V. 106, p. 1688, 2122: V. 107, p.
1100, 1192; V. 109, p. 981; V. 110. p. 1186, 1289; V. 114, P. 1538, 2717.

SHREVEPORT, LA.
SHREVEPORT RAILWAYS CO.
ORGAN IZATION.—Successor of the Shreveport Traction Co.,the francnises and properties of which company were purchased in July 1914 by the
Shreveport Railways Co. Shreveport Trac. Co.. in turn. succeeded the
Shreveport Belt Ry. Co. and Shreveport City RR., chartered In 1870. and
purchased the Highland Park Trac. Co. and the Shreveport City Suburban
Ry. Owns and operates entire street railway system In city of Shreveport.
Franchises.—In 1912 all franchises of the company were extended until
1954
All franchisee are free from burdensome restrictions.
sTOCK AND BONDS—
Date.
Interest. Outstanding. Maturity.
Stock *2.000.000
$1.000.000
Let M ser gold bds *3.000.0001 1914
730.000
See text
5 g J-J
(1100. 8500 & 111.000) c*tfl Int at Hibernia Bk. & Tr Co . N 0.. trust.
Bonds —Redeemable at 103 and interest. The $800.000 bonds issued
mature In annual Installments as follows (par value 81.000, except for 850,000 of $500 bonds and 820.000 of $100 bonds due In
110.000 1918 and 1919: 815.000 1920 and 1921; $20,000 1922 to 1944):
1927;
125.000 1928 to 1932; *30.000 1933 to 1937: 825.000 1938 to 1942: 820.000
1943:2210.000 1944. The remaining ;2,200.000 will fall due annually as
follows (par 81m0 except 8100,000 of $500 bonds and 880.000 of $100
bonds due in 1944); 85.000 1925 to 1937: 815.000 1938 to
1943, and S2,040.000 In 1944. 850,000 redeemed to Apr. 1 1942: $20.000
These
remaining *2.200s Of, bonds may be certified and issued from 1922. to time
for Improvements, extensions, adoltions. Stc., under certaintints
restrictions
:V 00. p 199).
REPORT.—For years ending Dec. 31:
Year—
Gross.
Net.
Interest.
Surplus.
1921
2690.502
273.265
*39.775
133,490
1920
652.840
146.487
41.325
105.162
ROAD, &c.—Operates about 32 miles of track; 60. 70 and
Owns and operates its own power plant. 18 single truck and 80-10. rail.
28 double
truck passenger cars. 1 work car and 2 miscellaneous cars.—V.
113, p• 418.

SHAMOKIN & MT. CARMEL TRANSIT CO.
ORGANIZATION.—Is a consolidation in July 1906 of the
Mt. Carmel Electric Ry. and the Ashland & Centralia Electric Shamokin &
Ry. V. 83
p. 273.
Valuation.—In April 1921 the Penna. P. S. Comm. placed
the valuation
of the co.'s properties at $1,300,000. V. 112, p. 1519.
Fare Increase.—On Sept. 26 1919 the company raised
and this was upheld in June 1921 by the Penn. P.S. Comm. fares to 7 cents
V. 112. p.2538.
STOOK AND BONDS—
Date.
Interest. Outstanding. Maturity
Common $700,000
$529.750
Pref 8300.000 6% non-cum
•
261.850
STOTTX CITY. IOWA.
New mortgage 8600.000
f 1906
57
415,000
19360
SIOUX CITY GAS & ELECTRIC CO.
'Penn. Co.for Ins. on L.&
A.. Phila.. trus
ORGANIZATION, &C.—Incorp. in Iowa in 1901. Did all the gas as
EARNINGS.—For year ending Dec. 311921, gross, $304,317:
net,
taxes, $60,011. In 1920. gross, $268934: net, after taxes, $69.054. after well as a portion of the electric light and power business in Sioux Falls,
Iowa, up to 1922. In Oct. 1922 acquired the electric generating plant and
ROAD —Operates 19.5 miles of track between Ashland and Shamokin.
distribution system formerly owned by the Sioux City Service Co., thus
OFFICERS.—Pres., E. W. Samuel. Mt. Carmel. Pa.; Sec.,
placing the
Connell. Treas., Wm. Keefer, Mt. Carmel.—V. 106, p. 2650; J. D. Mc- under the entire light and power and gas business in the city of Sioux City
V. 112, p.
ownership and management of the Sioux City Gas & Electric Co.
1519, 2538.
The Sioux City Gas & Electric Co. owns substantially all of the outstanding
capital stock of the Sioux City Service Co. (see below), which latter comn
ntintues to own and opera.e the street railway and heating business
pany
ci y
SHAWNEE, OKLA.
SHAWNEE-TECUMSEH TRACTION CO.
Exchange Offer.—In Oct. 1922 holders of Sioux City Service 1st & Ref.
Mtge. 5s west offered In exchange for their bonds new Siour City Gas &
ORGANIZATION.—Incorporated In Oklahoma on Feb. 13
1906. Electric Co. 1st Mtge. 6% gold bonds, Series A, maturing Sept. 1 1997, on
Franchises are perpetual and exclusive for 25 Swim
a basis if exchange at par and int. for the Service Co. 1st & Ref. 5s and
STOCK AND BONDS—
Date.
Interest. Outstanding. Maturity
991 and int, for the Gss & Electric Co. new 1st 6s. The new bonds are
4
Stock $500,000 4100)
non-callable for ten years except for singing fund. Fr further details see
$500.000
First mortgage $1.000.000J 1906
V. 115, p. 1817.
5 g J-D
300.000
1926
(21.000) gold
_c* 1 Int. at Equitable Trust Co.. N, Y.. trustee.
(1) Sioux City Service Co.
Bonds.—Can be called in 1916 at 105. No sinking fund.
Substantially all the capital stem is owned by Sioux City Gas & Electric
EARNINGS—For 12 mos. ending Dec. 31 1921. gross. $71.767; net, Co., which see above.
$27,907; taxes and int., 817.415: bal., sur., $10.979. In 1920, gross
s
N 14.1. tin.,, &O.—Incorporated on June 7 1905 In New
Jersey
$84.714: net, *25.682; taxes arid int.. $16,869: bal., sur., $11.813.
to March 1909 increased capital from $250.000 to $2,000,000, In order to
ROAD.—Operates 12 miles of track In Shawnee and between Shawnee and acquire stock of Sioux City Traction Co. V. 88. p. 1129.
Franchises of the
Tecumseh
Standard gauge 60 and 70-lb. T rail.
Sioux City St. Ry.(succeeded by Sioux City Traction) run for 50
OFFICERS.—Pres. & Treas., Louis K. Hyde; Sec. & Mgr., W. M. 1889; other franchises run for 25 years from 1908. These latter years from
were on the
Clutlip.
terms of 5-cent fares with transfers and 2% nf gross .evnIncts art.., the elty
has a population of 75,000 but on Sept. 1 1920 a 6
-cent fare was granted for
3 years.
SHEBOYGAN, WIS.
Operates all street railway lines in Sioux City, and sells electricity and
oteam heat for commercial purposes
EASTERN WISCOalciN Fl FCTP IC CO.
Con:mt.-1(n July 1922 the Wisconsin Power Light & Heat
In
let & ref.
Co., a sub- beingJuly 1919 the company issuedof Sioux (now first) mtge. 5s, 8750,000,
sidiary of the Middle West Utilities Co., was auth. by the Wisc.
used to retire a like amount
City Traction 1st mtge. 5s, and
RR.
to purchase the $700,000 outstanding corn, stock of the co. See V.Comm. the remainder to reimburse the company for improvements and betterments
115, 1
3• already made. V. 109. p. 73.
310, under caption" Wisconsin Power, Lt. & Heat Co."
s Thrred.—V. 113. p. 981.
OROANIZATION.—Incorp. Feb. 21 1917 to take over
Offer to Bondholders.—For offer to exchange bonds of Sioux City Gas &
of the Sheboygan Electric Co., the Eastern Wisconsin Ry. & the properties
the Wisconsin Electric Ry.(See "Elec. fly." Section for Jan. Light Co. and Electric Co. for 1st & Ref. Mtge. 58, due Jan. 1 1928, see that company
1917).
and operates the electric-lighting. power and street railway systems Owns above, and V. 115, P. 1839.
in She
3 Web. AND tiON Ds—
Date.
Interest. Outstanding. Maturity.
boygan and Fond du Lac, gas in Fond du Lac, street railway in
Oshkosh
Stock 82,000,000 4100)______
about 70 miles of interurban lines connecting Sheboygan and
and
First & ref mtge 85,000.000 1910
Elkhart
5 J-J
0
0
3 ..050 0 0 Jan 1 1928
2 0 1..00
Lake, Fond du Lac and Oshkosh. Oshkosh and Neenah. and Oshkosh
41.000) gold __c*tfl 11 1 Innis Trust & Say Batik.
and
(Me en,trustee.
Omro. Power is also sold in Plymouth. Elkhart Lake and
Bonds.—$2.629.000 are for additions and improvements at 75% of cost.
Sheboygan
Falls. Franchises.—Operates under indeterminate permits as
provided and $320,000 have been retired. Red. at 105 and int. on any int, date
by Wisc. P. EJ. Law. and Is thus protected from competition.
upon four weeks' notice. 6inking fund began in 1913, whirl] by 1928 will
Fare Increases.—In April 1918 was auth. by the Wtsconsin RR. Comm
aggregate $1,200.000. Interest payable in New York and Chicago. V.90.
to eliminate all fares of less than 5 cents, and in Aug. 1918 a general in1555: V 109. p. 73.
crease in interurban fares was granted. In Sept. 1918 the ticket rate' p Latest Earnings.—For cal. year 1921, gross, $1,530,490;
net, $295.321;
between Sheboygan and Elkhart 'Lake was increased from 1.9 to 2.9 cents int.. taxes. Sze.. $296.110; bal., def., 8788. In 1920, )ross, $1,468,690;
per mile. V. 107. p. 1100. On Aug. 10 1919 was auth. by the Wis RR
net, $180.113: int., taxes, &c., $278,732; bal., def., 898,619.
Comm. to increase cash fares on the Oshkosh City line to 7 cents, 6 tickets
ISUAD.—Operates over 51 miles of track (of which 7 wiles on private
to be sold for 35 cents and t31-ticket books for 82 50. V. 109, p. 981
right of way). 60 and 80-lb. rails. 129 cars.
Rate Increase.—Was with. by the Wisc. RR. Comm.to make a surcharge
iFFICERS.—Pres., Robt J. Dunham: V.-P., H. A. Chetham;
Sec. &
of M cent per k. w. h. on all lighting and power business, effective May 1 '18
Treas.. J. H. Ricker: Gen. Mgr., E. L. KIrk.—V 109, p. 73: V. 111. n.
In Aug. 1918 was auth. to increase gas rates 27.i cents per 1,000 cu.
1084; V. 112, p. 2643; V. 113, p. 981; V. 115. A. 1839.




133

ELECTRIC RAILWAYS

OCT., 1922.]
SOUTH BEND, IND.

roadCHICAGO SOUTH BEND & NORTHERN INDIANA RY.-Trolley
-Incorporated In Indiana in Jan. 1907 as successor
ORGANIZATION.
to the Northern Indiana Ry.. which had consolidated the Indiana Ry., thi
South Bend LA Porte & Michigan City Ry., the Michigan C.ty Electric Co
and the Michigan City Traction Co.
Franch'ses.-In July 1921 the co. surrendered its local franchises and now
operates under an indeterminate permit. V. 113. n. 701 co. that it would
Default-Committee -Upon the announcement by the
be unable to pae the int. due July 1 1918 and that plans for a reorganization
were under consideration the following protective committee was formed
-Chairman. Geo. 0. Van Tuyl Jr.
-Year 5s.
Committee for 1st M. 30
Frank Coenen and
L. H. Gethoefer, David Taylor, Wm. H. Pritchard, Depocitary. Metro
Jai. F. McNamara. Sec., 60 Wall St.. N.Y. City.
Y. City. V. 107...p. 291. The committee has called
smitten Trust Co.. N
for depasits.of bonds and as of July 1 1918 issued a statement stating
that a considerable amount of bonds had already been deposited and urging
those who had not yet deposited to do an. especially in view of the fact
that default nad also occurred in payment of interest upon underlying
bonds. V. 107. p. 603.
-On April 5 1919 was auth. by the Indiana P.S. Comm. to increase
Fares.
passenger fares from 2 t to 23i cents per mile. In Oct. 1920 was auth. to
raise fares to 3 cents per mile. In Aug. 1920 the co. was auth. by the Ind.
P. 8. Comm. to increase fares to 8 cents on its lines in East Chicago. V.
111, P. 791.
Interest. Outstanding. Maturity
STOCKAND BONDS- Date.
$5.000.000
Common $5,000.000 ($100)2.500.000
Prof $2.500.000 5% cuml
($100) after Jan 1 1909_ _
2.489 000 Jan 1 1937
New first mtge $5.000.000 1907 5 Et Jel
tf Int at Central Trust Co., N. Y.,'trustee
gold ($1.000)
588,000 Jan 1 1931
5 g J-J
Nor Ind Ry 1st cons M $4.- 1906
000.000 gold (El .0001_ ...tf lot at U.8 Mtge.& Trust Co.. New York
1,000.000 Jan 1 1931
5 g J-J
Indiana Railway first mort- 1901
gage $1.000.000 gold ($1.- Girard Trust Co.. Philadelphia. trustee
e.tf Interest at Standard Trust Co.. New York
000)
312.500 July 1 1930
5g
La Porte St Michigan City Tr 1905
($500) Interest at First Trust & Savings Bank
first ratite 5350.300
Chicago. Hi
sinking fund enbj to call tf
-On the Indiana Ry 1st 5s a sinking fund of 510.000 per annun
Bonds.
Are not subject t.
began Jan I 005: floods to he bought in open market
568
call. Northern Indiana 1st consols are subject to call. See V 82, p.
the La Porte & Michigan City Traction Co. bonds a sinking fund of IR
On
1914: from 1915 to ma
per annum of bonds out is operative from 1n10 to
turlty. 2% per annum. Of the new first mortgage bonds. 5491.000 are in
treasury. 31.900.500 are reserved to retire prior liens. and 3118.500 to,
improvements
-For years ending Dec. 31:
EARNINGS.
Interest Seretes
Oth.Ine. Taxes.
Net.
Gross.
Year53.154 $62.076 5240.712 5541.67k
31.249.349 $350.311
1921
70.683
55.109 240.215
666
385.340
1.244.850
1920
ROAD -Operates 125 miles of track In South Bend, Mishawaka, Elk
lines
hart. Goshen. La Porte. Michigan City and interurban Ownsbetween thos.
129 cars an'
points. Gauge. 4 ft. 834 in.; 70 to 100-lb T rail.
11 sub-stations.
-P. 0. M
New York; 1st V.
OFFICE R8.-Pres.. Charles F. Dieterich,
' V.
-P
Murdock. Lafayette: Treas.. A. E. Dieterich; Sec.. S. T. Murdock:Agent
Smith: Oen. Aud., 0. A. Small; Purchasing
& Gen. Mgr., R. R.
-V. 84. p. 270; V. 107. p. 291. 603; V. 108. p. 378; V•
R. E. Cornwell.
111. p. 791: V. 113.9. 701.
-A trolley road.
SOUTHERN MICHIGAN RAILWAY.
Is controlled by same interests as Chic. South Bend.& Northern Indiana
-Organized on Feb. 8 1906 as a consolidation of th
.
ORGANIZATION
South Bend & Southern Michigan Ry and the Niles & Buchanan ft)
Franchise in St. Joseph expires in 1935; in Berries' Springs in 1935; In Miss
In 1932. 1915 and 14118 In genth Bend perpetual
-In Oct. 1920 was auth. to raise fares to 3 cents per mile.
Fares.
Interest. Outstanding. Maturity
Date.
STOCK AND BONDS52.000.000
Stock 52.000.000
400.000 Mar 1 1931
5g
First consol mtge $1.980.000 1906
tf Int. at U. S. Mtge.& Trust Co New York
gold ($1,000)
750.000 Oct 1 192'
5 g A-0
South Bend & Sou Michigan 1902
first mtge $750.000 gold( Interest at Harris Trust & Savings Bank
(51.000 guar p & I)_c*tf I Chicago, trustee.
-Of the 51.980.000 consols $750.000 are reserved for prier liens
Bonds.
and $750,000 for betterments and extensions These bonds are subject tc
call on any int. date at 105. The following amounts are payable annuall3
Into a sinking fund from March 1 1909 to Feb. 28 1915: 1% of bonds outstanding, from March 1 1915 to Feb 28.1925, 1 ai% of bonds out: and fron
March 1 1925 to Feb 28 1931. 2% of bonds out. The So. Bend & So. Mich
mom per ann. Is payable into a sinkingfund or
bonds are not subj to call
these bonds.commeneing Jan . 11907 See V.82. p. 1158. and V.83. p.493
-For 12 months ending Dec 31:
EARNINGS.
Taxes. Interest. Surplus
Net.
Gross.
Year5292.476
$98.517 521.880 $58,926 517.711
1921
46.248
58.058
18.467
122,773
334.349
1920
-Operates a line from South Bend to St. Joseph. Total track.
ROAD.
85 miles. Standard gauge; 70-lb. T rail. Has 12 motor cars. 2 baggage
and express cars and 3 sub-stations. General Electric and Westinghous.
equipment. Purchases power.
-P.. Chas M
OFFKIERS.-Pres., Chas. F Dieterich. New York; V.
-P
Murdock; Treas., A. E. Dieterich, New York; Sec.. S. T. Murdock: V.
R. R. Smith; Aud.. 0. A. Small; Purchasing Agent, IL E
& Gen. Mgr.,
-V. 83. p. 493.
Cornwell.

SPARTANBURG. S. C.
SOUTH CAROLINA LIGHT. POWER & RAILWAYS CO.
-As of Feb. 17 1921, George B. Tripp and .1. B. Lee were
Receivership.
appointed temporary receivers in the U. S. Dist. Court for the Western
Dist. of So. Caro.. and In April 1921 George B. Tripp was appointed
permanent receiver.
Default.-Int. due May 1 1921 on the let mtge. Sc and the quer. int. due
June & Sept. 1 1921 on the 3-yr. 7% notes is In default. V. 113. p. 418.
The prin. on the latter, due Sept. 11921, is also In default. V. 113, p. 1054.
Sale.
-The entire property of the co. was purchased at receiver's sale
July 31 1922 for $1,000.000 by the bondholders committee. V. 115. p. 760.
See reorga izat ion plae below.
-A plan of reorganization dated AprIl 10 1922 was preReorganization.
pared by a reorganization committee consisting of Chas. C. Hood, Chairman:
Thos. L. Robinson and Jas. 'I'. Monahan, with the Metropolitan Trust Co.,
N. Y., depository. The plan provides for the transfer of the property as a
going concern to a co, to be known all the South Carolina Gas & Elec. Co.
The bonds a d the bank loans of ,he present co. will be paid or refit ded
by an issue of 1st mtge. 20-yr. gold 6% bonds, and the 7% notes will be
paid or refurded by 10-yr. mtge. 6% bonds.
p The unpaid interest and the unsecured claims will be paid or refunded
by scrip to be issued by the t ew company.
Holders of pref. stock of the presest co. will be entitled to receive share for
share pref. stock of the new co., and holders of the corn. stock will receive
34 share of the no par value corn. stock of the new co. for 1 share of the
*Id corn. stock. The following table shows the basis upon which securities
of the new co. are to be distributed:
Will Receive
Outstand
I Existing
lag. alstes'42 Cen.M.6s'326%Pf.Stk. Com.shs. yScrip.
r Securities53,497,00053,497,000
let 5s, 1937
Secured bankloans 176.000 176,000
5650,000
5-yr. 7% notes__ 650.000
5700,000
700,000
Preferred stock___
__
12,500shs.
Common stock..__ 2,500.000
587,000
87.000
General creditors_
320,000
320.000
x Coupons,
a Int. on the new 1st M.and gen. M.bonds will accrued from the date the
plan takes effect. x Coupons representing def. int. on bonds and notes.
y Non-int, bearing scrip maturing in ann. installments not exceeding 5 yrs.
For outlir e of abeve plan and description of new securities to be issued
anereunder.see V. 115. p. 760.




-Incorporated in Mass. June 21 1912 as a consoildaORGANIZATION.
don of the Spartanbure Ry.. Gas & Elec. Co and the Electric Mfg. & Power
C/O. Dom the entire electric light and power, gas and street ry. business in
Spartanburg and supplies electric light and power to Gaffney. Cowpens,
Woodruff, Blacksburg, Pacolet, Clifton and Converse. S. C.; also operates
an interurban line to Glendale and Clifton, a distance of about 10 miles.
[las the right of eminent domain (confirmed by the State Supreme Court).
Franchises contain, it is stated, no objectionable restrictions and run beyond
May 1 1937 or are unlimited as to time.
-year notes to pay off floating IndebtedIn Sept. 1918 Issued $450.000 3
ness and for new working capital. V. 107. p. 12138. 1386. In 1919 $200.were sold for the same purpose.
000 additional notes
Fare Inerrase.-In October. 1919. was auth. by the city of Spartanburg
to increase fares from 5 to 7 cents. Effective July 3 1921 the co. was auth.
by the S. C. RR. Comm. to increase interurban fares in each of the 3 zones
from 7 to 10 cents. V 113, p. 535, 1054.
-V. 113. p. 1054.
Rate Increase.
Interest. Outstanding. Maturity.
8 POCK AND BONDS- Date.
$2.500.000
clommon $3.500.000($100)700.000 Jly '20. 1%
Q-J
Prof6% cum 31.500.000(3100) _ 3.979.000 May.1 1937
wirst mortgage sinking fund 1912 5 g M-N
. _e*tfl New York Trust 0.. New York. trustee.
55.000 non gold
650.000 Sept 1 1921
7 g Q-M
-if
-year notes $750.000 (31. 1918
3
c-lNew York Trust Co.. New York. trustee.
000) gold
Stock.-Preferred stock is preferred as to assets and divs. Red. at any
ime at 115 and accrued dividends. Tax-exempt in Massachusetts.
,
Ron/De-Additional bonds may be issued only for the aconisition of
property, extensions, &c., under conservative restrictions Of the amount
reported outstanding $444,000 is held in the treasury and $38,000 has been
retired through sinking fund. Int. payable in New York and London.
Denom. 51,000 (1205 9s. 8d.). Sinking fund of 1% of bonds outstanding.
to retire bonds or for extensions and additions began Nov. 1 1915. Red.
at 105 and lit on any int. date. V 98 p 136
-Were red. all or in part on any int. date at 102 in 1920and 101
Notes.
until June 1921. Interest is payable in New York.
nor annum on the pref. stock
t h..',le
Dividend.
Hinufrnds
have been paid regularly to and incl. July 1920.
months ending Dec. 31:
-For 12
EARNINGS.
Bond. &c.,Balance.
Net (after
Gross
Cal.
Interest. Pref. Dies. &LaRue
Taxes)
Earnings.
Year192
521.000
57.476
5256 384 5227.908
5695.665
42,000 def. 25,727
212.497
228,770
692.746
1919
-Owns and operates 21.miles of city and interurban street
PROPERTY.
Hydro-electric
•all WA v; standard gauge. 65 and 70-1h T rail 21 cars
plant. ha sgererating capacity of 14,000 h p. Auxiliary steam power plant,
1.500 h p. Gas plant has a capacity of 250,000 cubic feet daily.
-P. & Gen. Mgr.. G. B.
OFF 81.S.-Pree.. P. G. Gossler, N. Y.: V.
-P., T. F. Wickham; Sec. & Treas., Paul W.Fisher.
Tripp. Akaartauburg: V.
p. 172: V 112. p. 850; V 113, P. 418,
-V. 107. p. 1388; V. 108.
N. Y.
535, 1054; V. 114, p. 1064; V. 115. p. RM. 780.

SPOKANE, WASH.
SPOKANE & EASTERN RV. & POWER CO.
OltGANIZATION.-Tncorporated In Washington January 3 1920'
rhe property of the Spokane & Inland Empire RR. Company was pur,haced at foreclosure sale on November 1 1919 by George H. Taylor.
representing the bondholder.' protective committee named below. (For
history of Spokane & Inland Empire BR. see "Electric Railway" Supplement of April 24 1920.) Mr Taylor then transferred the ctreet ry. lines
and passenger and freight terminals in Rpokansethe hydroelectrle station
known as the Nine Mile Power Plant and the electrically equipped interurban line from Spokane to Coeur d'Alene City and Hayden Lake. Idaho
e. the Spokane and Eastern Ry & Power Co . receiving in payment therefor
-he entire outstanding capital stock of 81.000,000, the e, t re outstanding
sod authorized issue of 53.000,000 First and semi mtge.,, A 5 yr. gold bonds,
,
.
anted Feb. 1 1920 and the demand notes for $150.000 :-earing int. at 6%
These securities have all been transferred to the committee and are held
for the benefit of the depositina hondheiders.
-Chairman,
Committee for Spokane & Inland Empire RR 1st it Ref. M 5s.
Albert W. Harris: E. G. Alder, Chester A. Cook, Holmes Forsyth, John 0.
Partridge: Sec., Chester Corey. 202 Harris Trust Bldg., Chicago, Ill.
Depositary: First Trust Sr Saivngs Bank, Chicago. Ill. V. 109, p. 1367. At
last accounts $3,627,000 out of a total outstanding issue of $3,668,000 had
been deposited.
Municipal lighting franchise in Spokane expires in 1946.
Consolidation of Street Railway Properties.-The street. railway system
owned by the no. was transferred on July 1100.2 to the Speka.-e United Rys.,
which also acquired the street railways owned by the Washinrton Water
Power Co. Securities of the Spokane United Rys. accepted in payment for
the property transferred. See "Spokane United Rys." below.
Interest. Outstanding. Maturity.
Date.
STOCK AND BONDS,
4tock 53.000.000 ($100) _____ -__ _ _ ____ $3 0 11 010 Feb. 1 1925
3.000.000
1st mtge bonds ___$3,1130,01 1920 5 F- A 1
2.
99
,,
..,
.. ohicagoitcust
arr jj
.
)()o g 1st a
c&rtf In m)3t H5 sis Tr.& Say. Bk ) C jan
A/
(51 1)0 8 let M 5500.(
1
..c.tf mt. at Title Gear.& Tr cn N Y.. trustee
($100. $500 & 81 Am)
137 500 See text
5 g F-A
.
4pokane Terminal 1st mtge 1905
Say Bank, Chi
$500.000 gold ($500 and Interest at First Trust & Nat Bank. Best.
eago trustee or at Piro
__Olt
Si 0001 . _ . _____
Bonds.
-The Spokane Terminal Co. bonds mature $12,500 on Aug. 1 from
1910 to 1929 incl. and $100,000 on Aug. 11910. The urbasued bords mature In 1930 and are subj. to call at 105 and int. On the Coeur d'Alene &
Spok. Ry. bonds a sink. fd. of 5% of net earns, is provided. Bonds are
subject to call at 105 & interest.
-For cal. year 1921, gross. $1.118,273; net, after taxes.
EARNINGS.
$142,644: int..5193.598: bal., def., $50,954. In 1920, gross. $1,207,778:
net, after taxes, $140.966: int.. $182,551: bal., def.. $41.585.
-Interurban lire has nassenger termi - al and offlee buildinu
ROAD, &C.
in Spokane. The line to Coeur d'Alene City and Hayden Lake Include
35
77.697 miles of single track. Equipment consists of 3 locomotives,
passenger, 183 freight, 8 work cars.
-P. &
-P., J. W. Esmond: V.
OFFICERS.-Pres., M. H. MacLean; V.
-P. & Treas., Waldo G. Paine; Sec. & Aud..
(len. Mgr., F. E. Connors; V.
-V. 114, p. 948. 2360; V. 115, p. 545, 1839.
L. C. Ream.
(1) Inland Empire Railroad Co.
The property
0RG A NIZ ATION.-Incorp. In Wash., Jan. 3 1920. foreclosure sale
.
of the Spokane & Inland Empire RR. Co. was purchased at
history. see -Electric Railway'
on Nov. 11919, by George II. Taylor. For
Section for Apr. 24 1920. Mr.Taylor then transferred the so-called Inland
Division to the Inland Empire RR. Co., receiving in payment therefore
the entire outstanding capital stock of $4,050,000 and the entire outstanding
Feb. 1
and auth issue of 31000,000 1st mtge. 5% 5-yr. gold bonds, dated for the
1920. These securities have all been transferred to the committee
Spokane & Inland Empire RR. 1st & ref. mtge. 5s (see Spokane & Eastern
Ry & Power Co. above) and are held for the benefit of the depositing
bondholders.
-For cal. year 1921. gross, $682.363; net, after taxes,
EARNINGS.
def.. $37,791; int., 550,666; bal., def.. $88.457. In 1920. gross, $619.479;
net, after taxes, $1,761; bond int., &c., $46,862; bal., def.. $45.100.
-Owns and operates 149.977 miles of single track electrically
ROAD.&C.
equipped railroad extending from Terminal Junction, which is at the outskirts of Spokane, to Colfax. Wash., and Moscow. Idaho. Equipment
-V.111.
consists of 10 locomotives. 20 passenger, 184 freight. 3 work cars.
o. 2228: V. 112. p. 849.
-P.
V. & Gen. Mgr.,P.B.Connors;
OFFICERS.-Pres.,M.H.MacLean;
-P. & Treas., Waldo G. Paine; Sec. & Aud., L. C. Ream.
V.
THE WASHINGTON WATER POWER CO.
-Chartered In Washington March 13 1889 for 50
ORGANIZATION.
years. Owns all the property formerly belonging to the following cos.:
Big Bend Light & Power Co.. Edison Electric Illuminating 0o., Post Falls
Water Power Co., Spokane County Electric Co.
Owns the entire capital stock of the Idaho-Washington Light & Power
and the St. Mantes Light Sc Power Co., acuired July 11913. V. 97.
p. 523:
Co.. and Spokane Central Heating Co., acquired May 2 1919 and Intermountain Power 0o., acquired July 11922.
The street railway properties of The Washington Water Power Co. and
those of the Spokane City Rys. Co. were sold on June 30 1922 to Spokane

134

ELECTRIC RAILWAYS

United Rys. (see below), thus consolidating these competing street railways
In a new corporation in which The Washington Water Power Co. owns a
large controlling interest.
Owns all the water power on the Spokane River at Spokane, Wash.:
also at Long Lake, Little Falls and Kettle Falls, Wash.,and Post Falls, Ida.
Operates electric light and power distributing systems in: Spokane,
HiIlyard, Albion, Admira, Belmont, Colfax, Creston, Colton, Davenport,
Diamond, Endicott, Elberton, Ephrata, Farmington, Govan, Garfield,
Hartline, Harrington. Johnson, Krupp, Latah, Lind, Neppel, Oakesdale,
Odessa, Palouse, Pullman, Ritzville, Rockford, Reardon, St. John, Sprague,
Stratford, Spangle, Tekoa, Wilson Creek. Uniontown ana Wilbur in Washington, and Genesee, Moscow, Osborne and St. Merles in Idaho, also
supplies power for operation of other companies at Cheney, Clarkston,
Coulee City, Fairfield, Medical Lake. Newport, Steptoe in Washington,
and Coeur d'Alene, Juliaetta, Kellogg, Kendrick, Lewiston, Post Faits,
Rathdrum, Troy, Wallace and Wardner in Idaho, also furnishes and distributes power for mining and smelting purposes in the Coeur d'Alene
District of Idaho.'
In Nov. 1917 entered into a contract with the intermountain Power Co.
to furnish power for the operation of the trains of the Chicago Milwaukee &
St. Paul Ry. Co. over the electrified section of its road on the western
ertension over the Cascade Mountains. Co. began supplying power for use
of the railroad in the summer of 1919.
Franchises.
-For electric lighting and power in Spokane run to Juno 1=4
In smaller towns various lengths, 25 to 50 years.
On March 15 1910 increased auth. capital stock from $10,000,000 to
$15,000,000, and on Dec. 2 1913 to $20,010,000. V. 97, p. 1505.
-On May 2 1919 acquired
Acquisition of Spokane Heat Light & Power Co.
at receiver's sale property of the Spokane Heat Light & Power Co. The
electrical business being retained by The Washington Water Power Co.
and the heating plant and business sold to the Spokane Central Heating
Co., a subsidiary corporation.
-On July 1 1922 acquired
Acquisition of the Intermountain Power Co.
through purchase entire capital stock of the Intermountain Power Co.
owning contracts and transmission lines for furnishing power to the Chicago
Milwaukee & St. Paul Ry. Co.
-In 1921 acquired power site on
Acquisition of Kettle Falls Power Site.
the Columbia River at Kettle Falls, Wash., and on July 26 1922 was
granted preliminary permit by the Federal Power Commission for the
construction of the plant.
STOCK AND BONDSDate. Interest Outstanding. Maturity
Stock $20.000.000 (8100)__
617,346,909 See text
Q-J
let consol mtg and collateral] 1899
236,000 July 1 1921
5 g J-J
,
trust, $2,000,000, gold
Interest at Farmers' Loan & Trust Co.. N.Y
41.000)--_ _c*Scri successor trustee.
lit ref m
-- 5,000:000 gl 1909
5 J-J
5.629 000 July 1 193t•
(11.000) ......e5 & r* cpt(Int. at Farmers' L.& Tr. Co., N.Y.. trustee
.
2-yr. secured notes
1922 6
2,060.000 Feb. 2 1924
JCentral Union Trust Co., Trustee.
10-year debentures
1 1919 see text
1,400.000
1939
Bonds.
-Of the $15.000.000 refunding & ext. mtge. bonds, $236,000 are
reserved to retire 1st mtge.. $3,660.000 are pledged as collateral under
the 2
-year notes (see above), $3.800,000 are in treasury, $1.485,000 have
been canceled by sinking fund, and the remainder are for add'ns and extens
at not to exceed 50% of cost. Sinking fund of 2% per annum of bonds out
began Sept. 1009 for purchase of bonds at not exceeding 110 and int.. but
bonds cannot be drawn. Bonds are redeemable as a whole at option of com•
pany at 110 and int. V.88. p_. 54. 1003. Bonds are listed on N. Y. Stock
Excilange. V. 89, p. 1541; V. 104, p. 1900, 2120.
Notes.
-The 2-yr. notes are secured by deposit of lit & Ref. Mtge. 5%
bonds in the ratio of 120% of the amount of notes outstanding. Interest
payable semi-annually at Spokane & Eastern Trust Co.. Spokane. and at
office of trustee in N.Y. V.113, p.2722.
Dividends.
-In 1900,3%;In 1901.4%;in 1902.5%;in 1903.6%;In 1904.
6%; 1905 to 1910, Ind., 7% per annum. In 1911, 73j%. In 1912 and
1913, 8%. In 1914. 7%. In 1915. 5WA. In 1916. 4)4%. In 1917.
4%. In 1918, 4%. In 1919, 4%. In 1920. Jan. 1 q %; April. 1 V %;
July, 17%:Oct., 1 V %. In 1921, 7%. In 1922, Jan.,
%;April. 13j%.
July, 1%;Oct., 1U%REPORT.
-For years ending Dec. 31:
Total Net (after Bond Depre- Profit
Divs.
Balance.
Receipts. Taxes). Int. &c. cation. & Loss.
Paid. Sur. or Def.
Year-$
$
1921.-4,771,555 2.462,970 576,906 768 288 dr16,519 1,084.300 sur 16.956
1920.._ _4,604.894 2.299,737 581.161 748.288 cr 3.215 968,125 sur 5.378
1919_3.670.092 1.742,429 536.323 353,000 dr 1,097 658,325 sur193,683
Passengers carried (city lines only), 1921, 16.365,496, against 20.500.074
In 1920 and 18.478.611 in 1919.
PROPERTY,&C.
-Owns hydraulic power plants with rated capacity as
follows: 8,800 k. w. in Monroe St. plant, Spokane; 10,000 k. w. in Upper
Falls plant, Spokane, Completed in 1922; 11,250k. w. at Post Falls, Idaho:
20,500 k. w. at Little Falls, Wash.: 52,500 k. w. at Long Lake, Wash.
Owns and operates 815 miles of high tension transmission lines.
OFFICERS.-Pres., D. L. Huntington: Chairman of Exec. Comm. &
V.
-P., W. J. C. Wakefield; V.
-P., W. E. Conlon; Gen. Mgr., M. W.
Biraett; Sec. & Treas., V. G. Shinkle; Aud., J. S. Simpson.
-V. 112, p.
856; V. 113, p. 294. 732, 1369, 2722; V. 114, p. 531, 949, 2242, 2361; V.
115, p. 438, 546.
SPOKANE UNITED RAILWAYS.
ORGANIZATION.
-Chartered in Washington May 5 1922, fifty years.
Acquired by purchase the street railway systems in Spokane owned by the
Washington Water Power Co. and the Spokane City Railways C it., which
companies owned all of the property formerly bole ging to the following
companies: City Park Trans't Co., Falls City Land & Improvement Co..
Arlington Heights Motor Railway Co., Ross Park Street Railway Co.,
Spokane Cable Railway Co. Spokane Electric Railway Co., Spokane Street
Railway Co.. Spokane Traction Co. Franchises for street railway run for
25 years from July 1 1922.
Fares. -cent cash or six tickets for 30c.; school tickets, 4c.
-7
Stocks and Bonds.
-Common stock, $1,500,000 (par $100); 7% pref.
stock, $2,000.000 (par $100); first mtge. bonds, $2,009,000. Of the
$2,000,000 first mtge. bonds, $58,090 are reserved to retire Spokane Traction Co. bonds and $109,00) for cost of combining the two systems. Underlying bonds (Spokane Traction Co., $58,000).
-System consists of 110 miles of track, occupying 72.137 miles
ROAD.
of streets. Standard gauge 60 to 70-1b. T rails and 99 to 108-1b. girder.
-Pros., D. L. Huntington; V.
OFFICERS.
-P. & Gen. Mgr., M. W.
Birkett; Sec.-Treas., V. G. Shinkle; And., J. S. Simpson.
-V. 115, p. 545.

SPRINGFIELD, MASS.
NEW ENGLAND INVESTMENT & SECURITY CO.
New Control -The 1100.000 common .tock of this company formerly
held by Sanderson & Porter was acquired by a preferred stockholders'
committee (V. 99. p. 1215) In Oct. 1914. Holders a about 34.000 shares of
pref. stock subscribed $10 for every share of pref. owned in order to effect
the purchase. V. 99. p. 609. 675, 1215.
The New England Navigation Co. owns the $13,115.000 funding gold
notes, and In pursuance of the order of the U.S. Department of Justice the
notes were to have been sold by July 1 1919. but in March 1919 Judge
Mayer granted an extension of time to July 1 1921. A further extension to
April 1 1923 has been granted.
In Aug. 1921 Ii was stated that the co. had acquired from the N. Y. N. H.
& H. R. RR.$594,000 par value of above notes formerly held by the New
England Navigation Co. V. 113, p. 960.
-By vote of the trustees on Sept. 20 1917
Exchange of Preferred Stock.
the plan to exchange the $4,000,000 4% pref. stock (par $100) for an equal
number of shares of lit pref. stock of the Worcester Consol. St. Ry. became
operative. The latter has a par value of $80 per share and is entitled to
$105 per share in the event of liquidation and to cumulative diva, of $5
per share. Exchange of the stoc.k re Lives the N.Y. N. H. it H. RR. of




I

[VOL. 115.

Its guaranty of dividends thereon. V. 104. p. 2559. V. 105. P. 1818.
Is of April 1 1921 38,879 shares had been exchanged.
ORGANIZATION.
-Is a voluntary association and was organized on
Idne 25 1906 to take over the street railway properties In Massachusetts
Formerly controlled by the Consolidated Railway Co. V. 83. p. 492.
SECURITIES OWNED.
-The following is a list of stocks held by the
'few England Investment & Security Co. (see V. 83. p. 1100)•
Milford Attieboro & Woonsocket St. Ry.-$315,000 capital stock.
Worcester Consolidated St. Ry.-3.865 shares (out of 45.000) lit pref
stock (par $80) and all the common stock.
Springfield Railway Oos.-68.000 shares (entire issue) of common stock.
(SpringUeld By. Cos. owns 46.492 out of a total of 46,547 shares of Springfield Street Ry.)
Various street railway company bonds. $293,800. and notes, 8534.100.
STOCK AND BONDS-- Data.
Maturity.
Interest. Outstanding.
Common
$100.000
Pref. 4% MOO)
112,100 July '22, 2%
4 J-J
Funding gold notes
tit- 1909 See text
13.115,000 Apr. 1 1924
Stock.
-Dividends of 4% per annum on the pref. stock are cumulative
and are guaranteed by the New York New Haven & Hartford RR., and
aim $105 per share in case of liquidation. V. 83,11. 492. See form of guaranty in V. 83. p. 1102. This stock may be called 88 an entirety at any time
at 105 and accumulated dividends. Supreme Court of Errors in Connecti'tit sustained validity of guaranty. V. 88. p. 1002.
Notes.
-N. Y. N. II. & Fl. guar., p. & I., $5,000,1)00 of the notes. Int.
Hi notes for first 5 years. 3%; for the next 5 years 4% and for the last 5
years, 5%, but, by agreement with holders of the notes. they have received
In payment of coupons due to April 11917. Incl.. cash at rate of 3% and for
Oct. 1 1917 coupon at 29'. taking an obligation of the N. E. Invest. & Sec.
Co. for the difference. Coupons due April 1 and Oct. 1 1918 and April 1
1919 were settled in obligations of the Investment Co. A cash payment of
$34.000 was made on coupon due Oct. 1 1919 and the halanee of that
coupon and the coupons due April 1 and Oct. 1 1920, 1921 and 1922 were
also settled in obligations. Original issue, $16,250,000, of which $3,135,000
redeemed and canceled.
EARNINGS -For calendar years:
Divs. ot DedttcNet
Int.on
Pref.
Balance.
YearInt.Rec'd. lions. Income. Notes.
Dirs. Sur. or Def.
1921
$51,465 $16,575 134.890
None $4,484 sur.S30,406
1920
10.374
53,754
43,380
None
4,484 sur. 38,896
1919
14,671
53,327
38,655 134.000
171
4,484 sur.
OFFIOERS.-Chairman of the Board, Francis H. Dewey, Worcester,
Mass.: Pres., Clark V. Wood, Springfield, Mass.; Vice-Pros., Chas. E.
Ware, PItchburg, Mass.;
Wm. F. Crowe, Springfield, Mass.: Treas.,
Leyerett Candee. Springfield, Mass.; Aud., Chas. T. Converse. Springfield.
Sec.*
inv.-V. 101 p 2559; V. 106 n 111S9, 2757* V. 10q p. 2433 V. 109, 13.
.
776, 1987, 2176; V. 110, p. 970; V. 113. p. 960; V. 114, p. 1063.

-A holding company.
(1) Springfield Railway Companies.
ORGANIZATION.
-Formed in March 1905 to hold a majority of the
stock of the Springfield Street By. Is managed by a board of trustees
sonsisting•of seven members. V. 80. 1). 1363.
.
Outstanding.
Interest.
STOOKLast Die.
All owned by New Eng by.& Secur. Co.
Common
Fret 4.4 cum gust (glom
$3,387.900 July '22, 2%
4 J-J
-The pref. stock is red. at 105 and accr. divs. These divs, are
Stock.
guar. by the N. Y. N. H.& H. RR. Co., successor to Como]. Ry., as well as
their payment at 105 in case of liquidation or call. See V.80, p. 1363, 1914.
V. 105, p. 2095.

(a) Springfield Street Ry.-A trolley road
OROANIZATION.-Incorporated March 16 1868. Purchase of
Western Massachusetts Street Hy. and issue of 1550.000 additional
stock for that purpose approved by Mass. RR,. Comm. Nov. 30 1909. V.
$9.p. 1484. On Nov.26 1910 Mass.RR.Comm.granted permission to purchase the Springfield & Eastern St Ry. and tissue $900.000 new stock in exchange,share for share, for stock of the absorbed company. V. 91. p. 277.
1513. In May 1917 made a contract with the Turners Falls ow. & Elea.
Co. for the purchase of its entire power requirements. V. 101 p. 2119.
In April 1918 was authorized by the P. S. Commission to establish a
two-unit-fare program. The 5
-cent fare was retained in the centre of
Springfield within a radius of 2 miles. Beyond this limit a 6
-cent fare zone
was established, followed by a second 5
-cent zone. In Sept. 1918 was
auth. to charge a straight 6
-cent fare, effective Sept. 16 1918. V. 107. p.
1194. Compare V. 107, p. 803. Effective Oct. 19 1919 fare was raised
to 7 cents.
Jitney Regulation.
-See V. 113, p. 535.
The company was auth. by the Mass. Dept. of P. U. to extend the
$330,000 Springfield & Eastern St. Ry. 1st Mtge. 5s due Jan 1 1922, for
five years at 7.%
V. 113, p. 2313.
In Sept. 1922 issued $2,134,000 ref. & gen. mtge. 6% bonds, proceeds
to housed to retire $1,700,000 1st mtge. 4s due Apr. 1 1923 (this issue has
been eliminatetl from table below). V. 115, p. 1211.
STOCK AND BONDS- Date.
Interest. Outstanding. Maturity.
Stock $4,654,700 ($100)
_
Text
$4,654,700 July'22,2%
Ref & gen mtge $5.000,000{ 1920
-226,300 Sept 1 1940
79'
M OO & $1,000) gold__ ntf 1920 6%
2,134,000 Sept 1 1940
Int. at Old Colony Trust Co., Boston, Trust
West Mass St Ry first mtgel 1906
200.0o, Fen u 1920
5 g F-A
(closed , gold (81.000)__ tflInt. at Springfield 8. D.& Tr. 04., Trustee.
Springfield & Eastern 1st M) 1902 7 g J-J
330.000 Jau I 1927
(closed , g (11.000) c*-ntfi Int. at Springfield 8. D. & Tr. Oo Trustee.
Current ilabilltitas Dec. 31 1921
805.999 _ _____
Bonds.
-The ref. & gen. mtge. 6s & 7s are call. at 105 and int. on 30-45
days' notice. Western Mass. St. Ry. bonds are subject to call on any
interest, day at 108 and interest on 60 days' notice. Springfield & Eastern
bonds originally bore intarest at 5% and matured Jan. 1 1922, but were
extended 'for five years at 7%. V. 113, p. 2313.
D V DE N DS.
-In years 1893 to July 30 1910 Inclusive.8% per annum.
to 1910-11 to 1913 t. ,
no4-15. 654 %; in 1915-16. 64%' In non.
1916, 1X % In 1921, Jan., 2%; July, 1%. In 1922, Jan., 2%; July, 2%.
ROAD.
-Owns 183.64 miles (incl. 37.41 miles of 2d track) a main track
and 15.14 miles of sidings. Total, 198.78 miles. Has 499 cars.
EARNINOS.-For cal. years:
Gross
Interest. ' Dividends
Net
Surplus or Total
Year- Earnings. Earnings. Tax..etc.
Paid.
Deficit. Surplus,
1921-$3,438,317 $480,913 $216,147 $139,641 sur.$125,125 1488.591
1920.... 3,819,351
678,797
241,133
93,094 sur. 344,570 412,768
490,012
243.731
1919_ 3,064,637
None sur. 246.281 108.17,
-v. 108, p. 1512; V. 109, p. 777, 899; V. 110, p. 765, 1850: V. 111, p. 295:
V. 113, p. 535, 2186. 2313; V. 114, p. 1064; V. 115, p. 760. 1211.
(2) Worcester Consolidated Street Ry.-Trolley.
This company, which was incorporated in 1888 se the Citizens' Street By
Co.. has absorbed the following companies:
Clinton & Hudson Street Ry..
Worcester & Clinton Street By.,
Fitchturg & Suburban Street Ry..
Worcester & Holden Street Ry..
Leominster & Clinton Street Ry..
Worcester & Marlboro Street Ry..
Marlboro & Westboro Street Fly..
Worcester & Southbridge Street Ry..
Wore. & Blackstone Val, St. Ry..
Worcester & Suburban Street Ry.
Pranchises perpetual. In 1895 leased for 99 years the North End St. By.
miles, at a yearly rental of $8.000. The North End has $110.00(,
of 5.14
($100) capital stock and 375.000 59' 1st mtge. bonds, due Feb. 1 1915; int.
F. & A. Also leases for 99 years from July 1 1896 both the Worcester &
--"try St. Ry. and the Worcester & Shrewsbury RR.
3.885 shares 1st pref. and 33,260 shares common stock are owned by
the o. S. Inv. & Sec. Co.
In Aug. 1909 permission was granted to issue $922,000 bonds to retire
floating debt and 82.260,000 bonds to retire funded debt. V. 86. p. 1346:
V. 89, p. 412. Up to April 1 1922. $1,499,000 had been issued.
In Jan. 1913 the Mass. RR. Comm. approved an issue of $500.000 1s1
& ref. 4 tis, the proceeds of $450.000 being used to acquire the power house
and property of the Electric Mfg. Co. and 150.000 for the purchase of the
Quinsigamond Park property for a pleasure resort. The co. Is required to
establish as.f. by ann. payment of $1,949 till maturity of boa. V.96. p.382.

OCT., 1922.]

ELECTRIC RAILWAYS

-In May 1917 the Mass. P. S. Comm. auth. the co.
New Preferred Stock.
to issue (a) 45.000 shares of 1st pref. stock (par 980) to retire 36,000 shares
of common stock at par ($100). which was accordingly done,and (b) $40,000
of 1st Ref. 4 4% 20-year bonds to retire $40,000 Uxbridge & Blackstone
5% debentures due Oct. 1 1927. These bonds at last accounts (Sept. 1922)
had not been issued.
-On April 18 1919 cash fares were increased to 7c, with
Fare Increases.
tickets at 6%c. Effective Nov. 29 1919 a zone system was adopted with
a fare of 5 cents per zone. All workmen's and reduced rate tickets being
abolished. On Jan. 4 1920 fare per zone in Worcester was raised to 6c.
and on March 7 1920 to 7c. In each zone; suburban fare, 6c. V. 110,
p. 1850. 2193. On Feb. 6 1921- the two-zone system was abolished in
Worcester and a flat 10-cent fare put into effect. Suburban fares were
raised from 6 cents to 7 cents. V. 112. p. 850.
In Nov. 1919 the Webster & Dudley St. Ry. issued $30,000 let M. 5%
20-yr bonds to refund a like amount of 1st Mtge. bonds due at that. time.
In Dec. 1919 the Worcester & Webster St. Ry. was auth. by the Mass
P. S. Comm. to issue 31.50,000 1st M. 20-yr. bonds at not to exceed 5%.
to refund a like amount of similar bonds due Dec. 11919. V. 109. p. 2176.
Tha co.'s $700.000 44% debentures due Mar. 1 1920 were extended for
5 years at 7%. V. 110. p. 872. 972.
The co. was auth. by the Mass. Dept. of P. U. to extend from Jan. 1
1921 to Jan. 11026 the $115.000 Worcester & Clinton St. Ry. bonds at 7%
V. 112. p.64. Compare V. 111, p. 2042. In May 1921 was auth. to extend
for 5 se,irs at 7% the $160,000 Marib. & Westb. 1st 5s, due July 1 1921.
V ' I 2. p. 2307.
,
6
hiApril 1922 was auth. to extend for 5 years at 7% the $500,000 43 %
Worcester & South. 1st mtge. bonds due Sept. 1 1922. See also V. 115,
p. 1101.
teret
utstanding. Maturity
te
STOOK AND BONDSCommon $3,326.000 ($100)--------------33.326.000
See text
3.600.000
Prof (see text) $3.600.000 ($80)
44 g F-A 1.499.000 Aug 1 1930
Wore Consol St let & ref mtg 1910
$5,000,000 g ($1,000) c'ilf Old Colony Trust Co., Boston, Trustee.
1,200.000 Nov 1 1927
5 M-N
Worcester Consolidated deb 1907
31.364.000 ($1.000)___ntf Old Colony Trust Co.. Boston. Trustee.
700.000 Mar 1 1925
7 g M-S
Worc Con deb g $840,000 nt 1900
115.000 Jan 1 1926
Worcester & Clinton first 1899
7 g J1
mortgage gold (31.000) ntf American Trust Co.. Beaton, Trustee.
200.000 Aug 1 1926
Wore & Blackstone Val 1st MJ 1906
44 g F-A
$200,000 g ($1,000)__cntflInt. at Mechanics Nat Bk., Worcester. Mass
80.000 Feb 2 1924
5 F-A
Uxbridge & Blackst first) 1903
M Its0.000 ($1.000)_cntfl Int. at Old Colony Tr. Co. Boston, Trustee.
4(1.000 Oct 1 1927
5 A-0
Uxbridge & Blackst debenf 1907
tfIlnterest at office of company.
($1,000)
160.000 July 1 1926
7 g J-J
Mdrib N. Westb 1st M $160.-1 1901
000 g($1.000)red 105 c.ntflInt. at Amer. Trust Co., Boston, Trustee.
150,000 Oct 1 1923
Worc & Hold let mtge 31501 1903 5 A-0
000 g ($1,000) red at 1(15 Interest at Worcester Bank & Trust Co.,
cntf) Worcester. Trustee.
(V. 89, p.995)
500,000 Sept 11027
wee & South let mtge (see) 1902
7 8 M-8
Co., Bost., Trustee.
text) gold ($1.000)_ _entfl Int. at Internat. Trust200.000 June
1 1926
44 g J-D
Worcester & South nitge (see( 1905
ntff,
text)
Leased to Worcester Consotidated50.000
Webster & Dudley I Stock _ _ __
30.000 Nov 1 1939
5 M-N
(Mortgage {1919
Int. at Old Colony Trust Co.. Boston.
Leased to Webster de Dudley, oper. by Wore. Con-sot.150.000
Worc(Stock
9-1.000 Dec 1 1939
5 g J-D
& {1st M $150.000 414 1919
Web 1 000) gold_ ____Ontf I Int. at State Street Trust Co., Boston.
Current liabilities Dec. 31 1921 (incl. all sub. cos.). 1,171,264
-The pref. stock is entitled to corn. dive. of $5 per share
Preferred Stock.
p. a. (J. 30 & D. 31) and $105 per share in case of liquidation. While any
matured div. on let pref. stock is unpaid or while the unfunded and current
debt of the co shall exceed 25% of the entire capital stock, 1st pref. shareholders may elect a majority of the directors. The 1st pref. stock may not
be increased without consent of 2-3 of its holders except that in case of consolidation with Springfield St. By. $2,750.000 may be Issued without such
consent. V. 104, p. 2344.
-Wore. Cense!. Ry. let & Ref. bonds are sub. to call on any int.
Bonds.
day at 110 and Int. Int. is payable at company's office or at its agency in
Boston. The two issues of bonds of the Worcester & Southbridge St. Ry.
are secured by the same mtge., the mtge. providing that bonds can be Issued
up to 31.000.000. and are to bear date of Iretrie and be payable 20 year. after
date. The $500,000 1st mtge. bonds originally fell due Sept. 1 1922 and
4% int. but have been extended to Sept. 1 1927 at 7%. V. 114,
bore 41
p. 1892. The Worcester consul. debentures originally bore 44% int. and
matured Mar 1 1920 but were extended for 5 years at ;%. V 110, p. 872
The Worcester it Clinton let M. bonds were originally Sc and were due
Jan. 1 1919 hut were extended to Jan. 1 1921 and again to Jan. 1 1926
at 7%. V. 108, p. 2212: V. 112. p. 64. The Marlin. & West-b. let mtge.
bonds were originally 5s and matured July 1 1921 but were extended for
5 years at 7%. V. 112. p 2307
Dividend.
-The June 1918 dividend on the preferred stock was postponed. V. 107, p. 403. None paid to April 1922. when $2 50 was paid.
V. 114. p. 1181. In July 1922, $2 50; in Oct. 1922, $2 50.
ROAD.
-Operates 304.49 miles of track, comprising the entire street
railway mileage of Worcester, together with lines radiating from Worcester
to Leominster, Fitchburg. Clinton, Berlin, Northboro, Marlboro, Millbury
Northbridge. Uxbridge, Miliville, Spencer, Webster. Dudley, Grafton and
Bout h bridge.
EARNINGS.
-For cal. years:
Dive
Charges.
Net.
Surplus.
Gross.
YearNone $375,828
$4.406,451 $828,200 $452,372
1921
None
422,480
493,297
70.817
4,360,357
1920
455.0-11
None
644.414
189,373
3,934,256
1919
-.V. 111, p. 1473. 2042; V. 112, p. 64, 850, 2307; V. 113, p. 72; V. 114, P.
1181, 1654, 1892; V. 115, p. 75, 1101.
0) Milford Attleboro Ec Woonsocket Street Ry.
0ROANIZATION.-Incorporated in Massachusetts on April 14 1898.
Pass -On Oct. 13 1919 the co. increased the number of zones from 13 to
16. V. 109. p. 1527. Compare V. 108, p. 2433. In July 1921 the zone
fare was raised from 7 to 10 cents. V. 113, p. 293. On Nov. 20 1921
ticket fares were reduced to 15 tickets for $1.
The $300,000 1st M. bonds were otIginaily 5s and matured Oct. 1 1919.
but were extended for 5 years at 6%
V. 109. p. 1080.
STOCK AND BONDS- Date.
Interest. Outstanding. Maturity.
All owned by New England ley. & Secur. Co.
8t0'k $315.000
ire. M $300.000 g ($1,000)) 1899 6 A-0
3300.000 Oct 1 1924
it A subject to eall _____ntflint. at Old Colony Trust no.. Boston. Trust.
C it. Years- Gross.
Net.
Int. & Tax.
Divs.
Balance.
1921
$137.886
$882
$23,634
def.$22,752
1920
164,669
8.417
23.204
def. 14,787
Rt rAD.-Operates 30.05 miles of track. 24 passenger cars and 9 other
cars.-V. 109, p. 1080, 1527; V. 110, p. 765; V. 112. p. 2307.
INTER-STATE CONSOLIDATED STREET RY.
ORGAN IZATION.-organizen as successor in Massachusetts to the
triter state Consolidated of Rhode Island. Has permission to cirry freight.
-In Aug. 1918 the Mass. P. S. Comm. approved increases
Fare Increase.
in rates ranging from 50 to 100% to be accomplished by shortening fare
sections. V. 107, p. 696. On April 18 1920 fares were raised from 6 to
7 cents under a temporary order of the Mass. Dept. of P. U. V. 110. p.
1849. In July 1920 fares were reduced to 5 cents but zones were readjusted.
V. 111. p. 294. Effective Sept. 19 1920 fares were raised to 6 cents in
each zone.
Interest. Outstanding.
Last Div
wrocK$275.000 Dec'14. 2%
Stock $275,000 (par $100)
_
196,200
`urrent liabilities Dec. 31
April 1 1904: In 1905
1921_-First div., 11%. for 2 years. paid
Dividends.
7%; In 1906. 7%: in 1909. 5%; in 1910 to 1912, incl.. 4%; in 1913. 5%; in
1914, Juno, 6%; Dec., 2%. None since.
-Owns 24.10 miles of track and 1.87 miles of sidings, from
ROAD.
Rhode Island State line to North Attleborough. Attleborough and Plainville, Mass.
Reliance.
Net. Charges. Olve
()roes.
Year ending
sur.$28.7-19
$238,330 $44,561 $15,811
Dec. 31 1921
stir. 8.620
248.236
21,674
13.049
Dec. 31 1920
sur. 33.090
233,023
55,206
22,116
Dec. 31 1919




135

OFFICERS.-Pres., 0. V. Wood, Springfield; V.-P.. Francis IT. Dewey.
Worcester; Gen. Mgr., ii. C. Page, Worcester; Treas.. L. Candee. Springfield; Clerk, Win. F. Crowe, Springfield: Arid., Chas. T. Converse, Springfield. Mass.
-V 73. n. 236. V 107. p. 696; V. 109, p. 776; V. 110, p. 1849.
V. 111, p. 294; V. 113, p. 2311.

SPRINGFIELD, MO.
-See Federal Light & Trae.
SPRINGFIELD RAILWAY & LIGHT CO.
0o. under New York City.

SPRINGFIELD, OHIO.
SPRINGFIELD & XENIA RAILWAY CO.
ORGANIZATION.
-Incorporated in Aug. 1906 to succeed the Springfield & Xenia Ry., which was organized in 1904 to succeed the Springfield
& Xenia Traction Co.. which had been sold under foreclosure. V.83, p.214.
STOCK.
--Common, auth. and issued, $300.000; preferred. 5% cum.
auth. and issued, 9300,000. Par, $100. $1,200 of each class hold in treas.
Dividends.
-First div. on pref.. 4%, was paid Oct. 1 1908. In 1909
54%; in 1910, 4q%; 1911, 84%. In 1912, 64%. In 1913. Mar.
14; June, 14%; Sept., I 4%; Dec., 1 % regular and 2% extra, which
paid accumulations in full to Jan. 1 1914. In 1914 to 1920. Incl.. 5%.
In 1921, 5%. In 1922, March, 14%; June, 134%; Sept., 14%. Initial
dividand on common of 2% paid Dec. 1913. In 1914, 1915 and 1916, 3%.
In 1917, Dec., 2%. None to Dec. 31 1919, when 1% was paid. None
since.
EARNINGS.
-For year ending Dec. 311021, gross, 8112.528; net, after
taxes. $4,423. In 1920, gross, $133,694; net, after taxes, $6.978.
ROAD.
-Operates 20 miles of track connecting Springfield and Xenia.
Rails, 70-1b. T; five cars.
OFFICERS.-Pree.,Warren Bicknell, Cleveland; V.
-P., Geo. A. Coulton:
Sec. & Treas., Chas. S. Thrasher; Oper. Mgrs., The Warren Bicknell (Jo.
V. 99, p. 1911; V. 100. p. 643; V. 101, p. 2072; V. 105, p. 2367.
SPRINGFIELD TERMINAL RAILWAY & POWER CO.
Receivership.-Int. on the $250,000 1st M. 6's having been defaulted.
George Whysall in Sept. 1019 was appointed receiver for the co
V. 109.
p. 1180. In Juno 1922 William S. Ifarman was appointed co-receiver.
V. 115, p. 74.
Bondholders' Suit.
-See V. 113. p. 1773.
Sale.
-On June 5 1920 %V. 1'. Studevant, acting for the bondholders'
committee, purchased the property at receiver's sale at. the upset. price of
$200,000. This sale was set aside by the Court, however, and the property
was again offered for sale. Property was offered for sale on Mar. 18 1922
and the receiver was auth. to accept any bid in excess of 9125,000. V. 114,
p. 855. No bids were received, however. V. 114, p. 1409. No further
information.
Coinnzittee for 1st M. Serial 6s.
-R. L. Ilyney, Guy L. V. Emerson,
Edward A. Farmer: Sec., F. F. Forrey. Depositary, Fort Dearborn Trust
&. Savings Bank. Chicago. V. 113, p. 2081.
Operations, &c.
-Practically all service was discontinued on Oct. 31 1920.
ORGANIZATION.
-Successor in Nov. 1916 to the Springfield Troy &
Piqua Ry., which was incorp. April 20 1903. The railroad is on private
right of way except in cities and towns. Franchises expire in 1928.
STOCK AND BONDS- Date.
Interest. Outstanding. Maturity.
Stock
$350.000
let Mtge 3350.000 gold ($500) 1916 6 g J-D
250,000 See text
and $1.000)
c*tflInt. at Central Trust Co. of III.. Chicago.
Stock.
-The Springfield Troy & Piqua By. was financed by its officials;
$70,000 stock was issued to comply with law requiring issue of 10% of authorized amount. In 1917 the Ohio P. U. Comm. authorized and the co.
Issued 8280,000 stock to reimburse (together with the $250,000 bonds
shown above) the estate of Asa S. Bushnell for advances. V. 103, p. 1981.
Bonds.
-The bonds mature $25,000 Dec. 1 1920. $35,000 Dec. 1 1921 to
1925 and $50,000 Dec. 1 1926. Red., all or part, on any Int. date at 102
and int. Remaining bonds may be issued only for 85% of cost of permanent betterments and additions. Central Trust Co. of Ill.. and Wm. T.
Abbott, Chicago, are trustees. V. 103, p. 2079.
EARNINGS.
-For cal. year 1921, gross (only small portion of line
operated), $23,078; in 1920, gross, $138,722.
ROAD -Operates 30.46 miles between Springfield and Troy, O.; began
aperatine in July 1904; including second track and sidings, 33 miles. Rails.
80 and 70-1b. T. Standard gauge. Power plant capacity, 1.700 h.p.
OFFICERS.-Receiver, Geo, Whysall: And. NV. 0. Bell. General
-office. Springfield, Ohio.
-V. 111. p. 1370: V. '
113. p. 1472. 1773. 2081;
V. 114, p. 855; V. 114, p. 1409; V. 115, p. 74.

SPRINGFIELD, VT;
SPRINGFIELD ELECTRIC R Y.
-A trolley road.
Receirer -On Dec. 1 1920 E. S. French was appointect receiver for the co.
()IGANIZATION.-Length of road. 64 miles (9 miles of track) from
4pringfield, Vt., to Charlestown, N. H. Freight and passenger road.
Carries freight in standard cars. Connects with Boston & Maine RR.
Capital stock, common (auth.). 375,000, all outstanding;6% pref. stock.
$25 800; 1st M.for $100.000 of 5% gold $500 and $1.000 coupon bonds dated
Nov. 1 1897, due Nov. 1 1917; int. M. & N. at National Shawmut Bank,
Bosom
Receiver's certifs. (issued for old indebtedness). 922,321.
EARNINGS.
-For year ending Dec. 311921, gross, $75,137; net, after
taxes, $7,517.
-P., E. A. Davis: Treas., C. G.
OFFICERS.
-Receiver, E. S. French; V.
Staples.
-V. 64, p. 1043; V. 70, p. 93; V. 106, p. 2124; V. Ill, p. 2230.

STATEN ISLAND, N. Y.
RICHMOND LIGHT Sic RR. CO.
Receivership.
-On April 28 1920 Capt. John J Kuhn was appointed
temporary receiver for the co. by Judge E. L. Garvin, in th Federal Court,
Brooklyn. on application of the Westinghouse Electric & Mfg Co., the
co brining III the request. V. 110. p. 1850.
New Control.
-In Oct. 1922 a group composed of Marshall Field, Glore,
Ward & Co., Spencer Trask & Co., Estabrook & Co., Raymond M. Smith
& Co. and associates and interests connected with the J. G. White Mgt.
Corp. acquired con.rol of the co. V. 115, p. 1732.
OROANIZATION.-This company was formed as a reorganization on
tug. 18 1902 of the Staten Island Electric RR., New York & Staten Island
Electric Co. and the Richmond County Power Co. Owns the entire capital
of the New Jersey & Staten Island Ferry Co. For terms of reorganization
and complete statement of plan,see V. 74, p. 1091. Franchises are perpetual.
Transfer Decision.
-On April 28 1911 Court of Appeals rendered a decidon requiring the exchange of transfers between Manor Road line of the
S. I. Mid. Ry. and connecting linen of R. L. & RR. V. 92, p. 1179.
Merger Dented.
-The N. Y. P. S. Comm. on May 10 1917 denied the
aPplication for auth. to merge this co. and the Staten Island Midland By.
under the title of Staten Island Light & Traction Co. V. 104,0. 1900.
Fare Increase.
-On May 6 1920 the co. was auth. by P. S. Commissioner
Nixon to increase fares from 5 cents to 8 cents, tickets to be sold at 10 for
75 cents. Owing to this increase, the Board of Estimate revoked 10 of
the co.'s franchises, but under an injunction of the Federal Court the city is
restrained from interfering with the co.'s cars, tracks, &c. V. 110, p. 1974,
2658; V. 111, P. 295, 1070.
On July 3 1920 Justice Tierney of tee Supreme Court denied the city's
application to enjoin the co from charging an 8 cent fare. See V. 111,
p. 190 under "Rapid Transit in N. Y." In Jan. 1921 it was proposed
that the city take over the co.'s lines, which are being operated under an
8 cent fare, and run them in conjunction with the Staten Island Midland Ry.
-cent fare. V. 112, p. 163.
(see below) which the city operates on a 5
-See under Staten Island Midland By. below.
Contract With City.
Date.
Interest. Outstanding. Maturity.
STOCK AND BONDS.32.871,750
4tock S3.000,000 ($100)_
First collateral trust mtge,1 1902
2,200,000 July 1 1952
4 g J-J
32.500.000 gold
tf!Int. at Guaranty Trust Co., N. Y., trustee.
EJ:aids.-$300.000 are reserved for the acquisition of new property.

136

[VOL. 115.

ELECTRIC RAILWAYS

EARNINGS.—For years ending June 30:
Other Inc. Int. &Rents. Surplus.
Year.
Gross. Net (aft Tar
1920-21
$836.742 def.$146,977 $466,123 $185.854 $133.292
def.72.535
409.248
1919-20
567.907
175 948
160.764
Latest Earnings.—For year end. Dec. 311921, gross, $734,793: net, after
taxes. $111,592. In 1920, gross, $661,465; net, after taxes, def. $47,638.
ROAD.—Miles of track, 32.05; 90-lb. girder Cambria and 85-lb. girder
Johnson steel rails; 36 passenger cars.
-P &
OFPWERS1.—Preys.. C. W Hotchkiss. 55 Wall St.. N. Y.: V,
Gen. Mgr., R. L. Rand: Sec., 3. E. Phillips.—V. 110, P. 1850, 1974, 2658;
V. 111, p. 295, 1370, 2042; V. 112, p. 163; V. 115, p. 1732.

Bonds.—Fi-st mtge. bonds are subject to call at 103 on 30 days' notice.
Sinking fund 2% of bonds out Oct. 15 1916 to Oct. 15 1921. and 3% of bonds
out Oct. 15 1921 to Oct. 15 1941, which will retire bonds at maturity.
ROAD.—Line completed and in operation Stockton to Hilmar. 52.1
miles: also branch line Manteca Junction to Manteca. 6.6 miles, and Hatch
to Turlock, 6.5 miles. Total mileage operated, 65.2 miles.
-P., B. A. Bearce; Sec'y,
OFFICERS.—Pres. & Treas., Chas. Eisey; V.
W. G. Bruen.—V. 102, p. 1250; V. 103, p. 1793; V. 104, p. 164. 666;
V. 106, p. 1345; V. 107, p. 1580; V. 112, p. 1400.

STATEN ISLAND MIDLAND RAILWAY CO.
Receivership.—In Jan. 1920 Federal Judge Chatfield appointed Jacob
Brenner receiver for the co. V. 110, p. 360. Following the death of Jacob
Brenner in Oct. 1921, Mortimer Brenner was appointed receiver. V. 113.
P. 1889. 2186.
Fares, Operation,&e.—On Jan. 16 1920 the co. discontinued the operation
ofits trolley lines. This action followed the refusal of the Board of Estimate
& Apportionment, to grant a 7-cent fare upon the request of a committee.
appointed by P. S. Commissioner Nixon to investigate the co's. affairs.
The committee found that the co. was operating at a loss of $100,000 per
annum. V. 110, p. 360. Compare V. 109, p. 2440; V. 110,p. 79. 262, 360.
As a result of a contract signed Nov. 10 1920. operation of the co.'s lines
under the supervision of N. Y. municipal authorities was begun on Dec. I
1920. Under the contract the Richmond Lt. & RR. Co. permits the city
to use Its tracks through St. George and Tompkinsville and supplies the city
with electric current at cost for the operation of the lines. V. 111, p. 2042.
2230.
ORGANIZATION.—Incorporated In New York on Jan. 16 1907 as a
reorganization of the Staten Island Midland Railroad Co.sold under sequestration proceedings on Jan. 3 1907. V. 84. p. 222.
Transfer Decision.—See under Rich. Lt. & RR. above. V. 92, p. 1180
Merger Denied.—See Richmond Light it RR. Co. above.
STOCK AND BONDS— Date. Interest. Outstanding. Maturity
tock $1.000.000 ($100)--$1.000.000
5 g J-J
1.000,000 Jan 21 1928
I Mid RR 1st rntg $1,060,- 1896
000 gold ($1.000)_ __c*tf Int. at Farmers'L.& Tr. Co, N. Y.,Trustee
Equip trust ctfs Ser $135.- 1915 6 g
51.500
See text
cs&r Interest at Bankers Trust Co., Trustee.
000 ($500) gold
Bonds.—Sinking fund after 5 years but bonds cannot be called.
The equipment trust certfs. mature $7.000 each Jan. 1 and $6,500 ea&
July 1. beginning July 11915. They are subject to call at 102 and interest
Secured by 32 double-truck closed cars.
EARNINGS.
--For years ending June 30:
Net(aft.Taz.) Other Inc. Int. &Rents. Deficit.
Year—
Gross.
$604
x1919-20
$218.869 def.$80.615
$70.177 $150.188
1918-19
1,363
147,076
307,534 def. 80,346
68,094
x No later available.
ROAD.—Owns 28.68 miles of track. Rails 65 to 70-1b. T and 90-lb
girder. 41 passenger cars.
OFFICERS.- Pres.. C. W. Hotchkiss, 55 Wall St.. N. Y. City; See
A. M. Stillwell. New Brighton. N. Y.—V. 111, p. 74, 295, 897, 991.'1280.
1657, 1662. 2042. 2230; V. 113. p. 1889. 2186.

EMPIRE STATE RR. CORP.
ORGANIZATION.—Incorp. in New York Oct. 27 1917 as successor
to the Empire United rtys., Inc., sold under foreclosure per plan in V. 104,
p. 863; V. 105. p. 909. The new co. took over, subject to underlying bond
Issues the Syracuse Lake Shore & Northern and Auburn & Northern dive.
dons. The Rochester Syracuse & Eastern division was separately reorganized as the Rochester & Syracuse RR. (which see below).
Fare Increase.—In Jan. 1918 announced various fare increases, including
an advance from $1 25 to SI 38 for round trip tickets between Syracuse
and Oswego. In Sept. 1918 these rates were again Increased, this time
from $1 38 to $I 90. On Dec. 1 1920 rates on this line were again increased,
cash fares tieing raised from 2.77 cents to 3 cents a mile. V 111 p 2520.
The co's. petition for an increase in fares from 7 cents to 10 cents in Oswego
was denied by the N. Y. P. S. Comm. in Mar. 1921. V. 112, p. 1399.
STOCK AND BONDS.— Date.
Interest. Outstanding. Maturity.
Common $1,500.000 ($100)51,450.000
Pref "A" 6% cum $1.000,000
($100)
250.000
Pref B 6% non-cum 51.250.000
1,250.000
($100)
13.600
Equip trust bonds"A"
1920
6%
Ejiiip trust mites gold
44.000
1920
6%
Syracuse Lake Shore & Northern RR.
1st mortgage $2,500.000 goldl 1907
2,500.000 May I 1947
5 g M-N
(51,000)
c*tf tint. at Columbia Tr. Co., N. Y., Trustee.
Auburn SS Northern Electric RR.—
241,000 May 1 1945
5 g M-N
let mortgage $1.000.000 gold) 1905
c*tf(Int. at Equitable Trust Co., N Y., Trustee.
($1.000)
Stock.—Series "A" pref. stock is redeemable at 105. Series "B", after
It has received 5 years' consecutive dividends at the full rate of 6%.Is
entitled to rank purl passU with or be converted into Series "A." The
common and series "B'pref. stocks are held in a 5-year voting trust.
Bonds.—The bonds of the Syracuse Lake Shore & No. RR. are suoject
to call since May 1 1917 on any int. date at 110 and int. upon 60 days'
notice. No sink. fund. The Auburn & Northern bonds are subject to
fall at 110 on any interest period on 60 days' notice. No sinking funds.
EARNINGS.—For calendar years:
Net aft. Taxes. 0th. Inc. Int.. &c. Bal.. Sump.
Gross
Year.
$143,991
$60.085
$10.833
$199,243
1921
3819,058
145,622
87.850
13,224
220,248
1920
925.066
ROAD.—Operates from Syracuse to Oswego. 37.8 miles. Oswego city
linen, 8.83 m.; Auburn to Port Byron, 7.62 m.: Auburn city lines, 1 42 m.;
Fulton city lines, 0.6 m.: total length of road. 50.27 miles: second track,
21.25 m.; car house and other sidings. 5.08 m.; total trackage 82.60 miles.
Gauge,. 7 ft.. 8 ti in. Rail 70 and 00 lbs. 50 passenger ears. 4 express
cars, 7 work cars, 5 snow plows, 2 snow sweepars. Has contract for power
with Niagara Leckpart & Ontario Power Co. Has 4 sub-stations with a
total capasity of 2,900 k. w.
OFFICERS.—Pres., J. C. Nelson; V.
-P., L. L. Odell; Treas., W. S.
Macfarland; Sec. & Comp., S. C. Slivers; Aud., J. B. Hyland: Asst. Sec..
H. C. Beatty: Asst. Treas., J. Holden Wilson.—V. 105, p. 1801: V. 100, P.
.
189 V. 107, p. 2097 V. 109. e. "2. V. 110. p. 1289. 1526.21 ;-• V.111, p.
:
1369, 2041, 2520: V. 112, p. 1399; V. 113. p. 532; V. 114, p. 2579.

STOCKTON, CAL.

SYRACUSE, N. Y.

CENTRAL CALIFORNIA TRACTION CO.—An electric road.
ORGANIZATION.—Orgsnized in California In Aug. 1905 to construct
an interurban system of electric roads for passengers and freight in the central valleys of California. Road operates over private right of way
except in the cities Franchi es In all the cities of the system run for 1,0
years. An additional freight and passenger franchise was awarded company in May Imo for city of Sacramento. An assesseem , of $5 a share
was called for payment Feb. 20 1908. V. 88. p 687. In Jan. 1918 another
assessment of $5 per share was levied on both classes of stock, delinquent
ROCHESTER & SYRACUSE RR. CO., INC.
Feb. 25 1918. to provide additional equipment, improve trackage and
ORGANIZATIoN.—Incorp. In N. Y. Sept. 17 1917 as successor to the
restore the company's credit by reducing floating debt. The necessity for
Rochester Syracuse & Eastern RR.(part of the Empire Unit id Rys Inc..
this action was ascribed to years of unprofitable operation due to jitneal system) sold at foreclosure Aug. 28 1917 and separately reor, unired as per
competition, which is now regulated. See V. 106. p. 497.
plan in V. 104. D. 2119. Overdue int. on the Roch. Syr. & Eastern bomb
On May 8 1911 +hareholders voted to increase auth. stock to $4.000.000
to and inci. May 1 1917, amounting to $100 per 51.000 bond, was paid In
of which $3.000.000 is corn. and SI 000.000 i-ref. V. 92. p. 95.5.
Lease.—The Cal. RR. Comm.in March 1915 authorized the company to full. Bondholders who failed to deposit their bonds with the reorganization
lease Its lines In Stockton to the Stockton Elec. RR. at a rental of $12,500 committee, received 5346 76 per $1.000 bond. See V 106. p. 1231.
Fare Increase.—On April 28 1919 the N. Y. P. S. Comm. for the 2d
a year for first 3 yrs. and $15.000 yrly for next 35 yrs. V.100. p 1167
Operating Agreement.—Early in 1916 entered into an agreement with the Dist. auth. the co. to increase fares to 3 cents per mile, less one-half a cent
Tidewater Southern Ry. providing for the joint operation Of the two line, per mile for mileage tickets, effective shortly after May 1 1919 Commutaas one system. The separate corporate existence of each, however, Is to tion rates were raised one-fifth et a cent per mile and a special rate established between Rochester and East Rochester. V. 108. p 1823, 2123. On
be maintained. V. 102. p. 1250.
Plan to Reduce Interest, &c.
---in 1917 holders of the let M.5s signed an Sept 5 1920 commutation and mileage book rates were further advanced.
agreement reducing the int. rate from 5% to 2% for the years 1917, 1918
STOCKS AND BONDS.— Date.
Interest. Outstanding. Maturity.
and 1919 and waiving default In lot, and also the sinking fund provision
Common $1,500,000 (5100)51.469.100
_ _ _ -----Compare V. 106, p. 497. A new agreement under same conditions expires Preferred 53.000.000 (5100)-6%
2,448.500 Sept '22,1%
Oct. 1 1922. No further information.
First mtge cony $5,000.00a1 1917
5 g M-N
2,448.500 May 1 1957
Fare Increase.—In July 1918 auth. by the Cal. RR. Comm. to increase
($500 & 51.000) g _entf(First Trust & Deposit Co.. Syracuse. trustee.
passenger fares on its main line between Stockton and Sacramento and
Bonds.—The
are
stock at par, 5 for 5.
on the branch line to Lodi to 3 cents per mile, to cancel round-trip fares between May 1 1st M. 5s Mayconvertible into pref. may be terminated by
1919 and
1 1929; this privilege
and to increase commutation rates 10%. V. 107. p. 401.
the co. In case of merger or consolidation with any other co. under N. Y.
STOCK AND BONDS— Date. Interest. Outstandtea. Maturity
laws, or of the lease of its property. They are cellaole. all or in part,
$2.928 000
Common $3.000.000($100)since May 1 1922 at 105 and int. The remaining bonds may be issued
792 800
for impts.. add'ns, exts., &c., under certain restrictions.
Pref 51,000.000 (5100)6% cum
1.471 000 April 11936
5 g A-0
Dividervb.—An initial div. of 1% was paid on the pret. stock in Mar.
First mortgage 51.500.0005 1906
(51.000) gold sink fund_ tfl Int. at Union Trust Co. of San Fran., Trus
1921. Same rate quay. since.
Bonds.—SInk, fund on 1st as bonds hegan In 1912 with 515.000 per year
EARNINGS.—For years ending Dec. 31:
for 10 years and ortginally.called for $30,000 per year for the succeeding Calendar
Net, after Taxes
10 years and $45,000 per year for remaining 4 years, but has been modified
Gross.
and D.nrecia'n. Interest.
Adjust. Bal., Sump.
Year—
so as to provide $15,000 per year for 8 years commencing 1924. 530,000 for 1921
$123.957
$1.079.640
5218.278
394,321
the next two years and 5340.000 for 1 year. Bonds are red, on any int. 1920
1.176.535
268,318
123,065
520,620
124,633
days' notice.
day at 105 and int. on 60
ROAD.—Extends from Rochester to Syracuse, N. Y., passing through
EARNINGS.—For the 12 mos. ending Dec. 31:
East Rochester. Fairport, Macedon, Palmyra, Port Gibson. Newark,
Gross. Net, after Taxes. Int.,&c. Bal., Sum. Lyons, Clyde, Savannah, Port Byron, Weedsport, Jordan. Memphis and
$109.490
$37,325 Warner, N. Y. Length of line, first track (owned), 157.04 miles: 2d track
$72,165
5653.671
1921
110,995
75.554
35.440 ;owned). 1.50 miles: siding, &c. (owned), 1.70 miles; trackage rights,
1920
669.419
ROAD.—Operates in the city of Stockton and an interurban line troy
4.8 miles; total length of line operated, 169.04 miles. Gauge, 4 ft. 8}4 in.
Stockton through Lodi to Sacramento. Total track operated. 70.8 miles
-lb. T. Operated by overhead trolley. Power purchased
Rail, 70 and 90
Has operating agreement with Tidewater Southern Ry. whereby the twt
from Niagara. Lockport & Ontario Power Co.
lines are operated as one system. Company carries Wells Fargo firers,.
OFFICERS.—Pres., A. H. Cowie; V.
-P. & Gen. Mgr., T. C. Cherry;
matter
-Ps., M. Fleishhacker, Geo. W. tud & Treas.. W. IC. Zinsmeister; Sec., Mercer V. White. Peck-ShanaOFFICERS.—Pres., H. Fleishhacker; V.
Peltier and A. Anderson; Sec. & Treas., A. N. Baldwin; Gen. Mgr., F. W. han-Cherry, Inc., operate the road —V. 106, p. 87, 1231, 2451: V. 107
p.1193; V.108 p.1823 2123; V.109 p.73; V.112 p.850; V. 113,p.534
Webster. Office,9 Main St., San Francisco.—V. 107, p. 401.
STOCKTON ELECTRIC RR.
SYRACUSE NORTHERN ELECTRIC RV., INC.
ORGANIZATION.—Incorp. Dec.29 1891 In California. Southern Par.
ORGANIZATION.—Incorp. In New York May 12 1917 as successor to
Co. owns the entire $500.000 stock except directors' shares. No bond,
the Syracuse & South Bay Electric RR. and the Syracuse Watertown &
outstanding.
St. Lawrence River RR , laid En at foreclosure sale on Nov. I 1916 by the
Lease.—For lease of the Central California Traction Co.'s lines in Stock
reorganization committee. Sale confirmed in March 1917. The company
ton, see that company above.
was organized as per plan in V. 103, p. 580. as modified and approved by
Fare Increase.—In Jan. 1919 was auth. by the Cal. RR.Comm. to charge
the P S. Comm by an order dated April 26 1917.
-cent fare. The o. had applied for a 7-cent fare. V. 108, P. 80.
a6
Fare Increase.—On Aug. 12 1919 was auth. by the P. S. Comm. to charge
EARNINGS.—For years ending Dec. 31:
a 6-cent fare in Syracuse. V. 109. p. 777.
Gross
Net.
Other Inc. Rents, &c. Bal.. Sur
Year.
STOCK AND BONDS—
Interest, Outstanding. Maturity.
Date.
("346,590
$42.151
54.604
39.154
$37.601
1921
5150.000
28.053
3,649
10,748
320.457
20,954 Common $150.000 ($100)1920
480.000
First pref 5600.000 ($100)---- ---6%
Standard gauge. 29 cars
ROA D.—Ope:at as 25 51 miles of track
420.000
2nd pref $500,000 3100)
----0%
OFFICE RS.--Pres., Paul Shoup; Sec. & Aud.. H. A. Culloden; Treas.
First mtge 5600.000 gold ($251 1917
5 g M-N
153.750 May 1 nag
M. S. Wade; Asst. Sec.. G. L. King. Office Los Angeles, Cal.—V. 76
(Int. at Tr.& Dep. Co.. of Onon.
$100 and $1.000)
p.159; V. 100. p.643,902; V. 102. p. 1626; V. 108. p. 80; V. 111, p. 1370.
Stock.—All classes of stock have equal voting power. Stock Is held In a
five-year voting trust. The trustees are Arthur W. Leasby. William NotTIDEWATER SOUTHERN RAILWAY COMPANY.
ORGANIZATION.—Incorp. in Cal. on Mar. 11 1912. succeeding the tingham and Ferdinand W. Roebling Jr.
Bonds.—Are subject to call in whole or In part on and after Nov. 1 1917
Tidewater & Southern RR. (V'. 93, p. 1790) and Tidewater & Southern at 110 and int. Int. on $25 bonds payable May 1 only. Int. payable
Transit Ry.
without deduction other than Federal income tax.
,
Date. Interest. Outonmti m. Maturity
VT1 HoNDS—
ST:iCK '
EARNINGS.—For calendar year 1921, gross, $131,779; net income,
51,781,053
Common 51.730.000
$8,771. In 1920, gross, $128.547: net income, $14,719.
Preferred 6% non-cum $250.
-1
ROAD.—Operates 12.18 miles of single track equivalent over private
14,650
1
000 (par 31)
466.500 Anr 15 1942 right of way from Syracuse to Oneida Lake, and a single track branch line to
First mortgage $4.00 a(10 r 1912 5 is A-0 15
Brewerton, 6.2 miles. Has traffic agreement with New York State Rail'
($500 & $1,000)___if (Mien Trust Co., San Francisco, Trustee.
gold




OCT., 1922.]

ELECTRIC RAILWAYS'137

ways Co. to enter Syracuse. New road began operations April 26 1917.
85-1b. T rail. Gauge.4 ft. 834 inches. 17 cars. All private right-of-way.
Power is purchased from Niagara Lockport & Ontario Power Co.
W. K.
Cherry;
OFFICE RS.-Pres. & Gen. Mgr., Talmadge 0.-cherry, Treas.,
Inc., operate
Beatty. Peek-Shanahan
Zinsmeister; Sec H.
p.499; V. 106, p. 1231; V. 109. p.777; V. 115, p. 1211.
-V.105.
the road.
-A trolley road.
AUBURN & SYRACUSE ELECTRIC RR.
-Organized Sept. 30 1902 as a consolidation of the
ORGANIZATION.
and Auburn Interurban Elec. RR. Franchise perpetual
Auburn City Ry.
Financial Readjustment -In April 1916 the P S. Comm. auth an Issue
-year notes to refund the $250.000 1-yr. notes due Feb. 1
of $437.000 6% 5
corporate
1916. the $150.000 18-mos. notes due Aug. 1 1916, and for other
were
purposes. As part of this refinancing plan, the common shareholders as a
upon to surrender 35% of their stock, which was distributed $100
called
notes at the rate of 1 share of stock for every
borne; to subsc:lbers to the
of notes. The stock so delivered was In the form of voting trust certificates.
a
and, together with sufficient of the remaining common stock to constitute
majority was deposited under a voting trust agreement extending to Jan. 31
1921. Notes have been paid off and a new voting trust agreement extending
for five years from Dec. 1 1921 executed. Trustees are Edwin Nottingham.
Arthur W. Loasby and F'. W. Roebling Jr. Compare V. 102, p. 1895.
Interest. Outstanding. Maturity
STOCK AND BONDS- Date.
$1.250.000
Common $1.250.000 ($100)
See text
712.000
Q-J 15
6% n-cum $750.000($100) ---Pre
1.752.000 Oct 1 1942
5 g A-0
Auburn & Syracuse first and{ 1902
refunding mortgage 32,- Int. at Harris, Forbes & Co.. New York.
Equitable Trust Co.. New York. trustee
000,000 gold ($1.000)-c*tf
_
32 000
6%
4 mos. notes_____
ex-Of the $2,000.000 authorized. $248.000 is reserved for futurecall
Bonds.
only when net earnings are double int. charges; subject to
tensions. but
at 110 and interest. See V.75, p. 1201. stock-1%-paid Nov. 1 1904
Dividends -First dividend on preferred
then 1% Feb. 1 1905, May 1 1905 and Aug. 1 1905; Nov. 1 1905. 13l %
paid (See V 81, p 1609). In 1906, 54%; 1907 to 1913 incl.. 6% per
annum. In 1914. Jan.. 1 4%; April. 134%; July, 11-4%. None since.
-For years ending Dec. 31:
EARNINGS.
Surplus..
Int..&c.
Taxes.
Net.
Gross.
Yearstir $250
$93.675
$24.535
$109.093
5636.472
1921
def5,366
94.170
24.826
113.629
692.600
1920
ROAD -Operates 41.16 miles of road (64.76 miles of track). includint:
from Auburn to Syracuse. Ras trackag(
14.12 m. In Auburn and 27.1 m.
agreement with New York State Railways, allowing it to enter Syracuse
Owns Lake Side Park. about 33 acres. on Owaeno Lake; 59 passenger cart
8 express. 3 work, I service. 2 sweepers and 6 snow-plows: total, 71 cars.
-P.. Harold G. MetOFFICERS.--Pres., T. 0. Cherry. Syracuse; V.
-P
calf, Auburn: V. & Gen Mgr.. W. J. Harvie; Treas.. Aud. and Amid. See.
Syracuse. Peck-ghans hen.
L. E. Lippitt, Auburn; See.. H. C. Beatty,
Cherry, Inc.. opeeate the road. V. 110. p. 764: V. 111, P. 790, 2323;
V. 112, p. 160, 2304; V. 113, p. 1469; V. 114, p. 2467.

Stockholders voted Jan. 8 1912 to increase stock from $1.7J0.000 to
51.870.000. V. 93. p. 1601. In Feb. 1913 made a further increase to $2.244.000 and in Jan. 1914 to $2,618.000. V. 98. p. 156. In Aug. 1917 inreased stock to $2.879.800. Stockholders of record Sept. 15 1917 were
given the right to subscribe for the new stock pro rata at par. V. 105. p.
Stockholders of record May 5 1922 were given the right to subscribe at
1310
par to $575,000 new capital stock in the ratio of 1 new share for each 5
shares held. V. 114, p. 2242.
Interest. Outstanding. Maturity.
STOCK AND BONDS- Date.
53,443.300 Nov 22,234
Q-F 15
stock 53.454.800($100) ____
930 500 June 1 1033
5g. J-D
tat mtge $2.000,000 (51,0001 1908
c*tflint. at Amer. Trust Co.. Boston, trustee
and $500) gold
in part for sink. fd.) at 105 and int. at
Bonds.-Callahle as a whole (or
any time. 5173.500 are in treasury. Sink, fund of 1% of bonds outstanding yearly, payable August I; 5125.000 in sinking fund canceled.
-5% semi-annually for several years up to Nov. 1907, when
Dividends.
div. of 2% was paid. In 1908. 7%;in 1909. 7%;in 1910,8%;in 1911.
and since. 10%•
-For 12 mos. ending June 30:
EARNINGS.
Net (aft. Tax). Interest. Sink. Fund. Surplus.
Gross.
Year.
$670.431
$52,748
5723.180
1921-22
51.755,007
552,978
51,745
601.723
1,607,684
1920-21_ - _ ROAD.-Operates 53.6 miles of equivalent single track. Standard
cars. Owns 2 amusement parks. Has
gauge. 114 passenger and 23 other
;team power station with 14.500 k.w. capacity and hydro-electric station
with 600 k.w. capacity.
-Ps., P. 0. Knight and C. F.
OFFICERS.-Pres., Harry H. Hunt; V.
W. Wetterer; Treas., Henry B. Sawyer; Sec., Geo. A. Peirce; Gen. Mgrs.,
-V. 113, p. 2081; V. 114, p. 2242.
Stone & Webster Mgt. Assn.

-A trolley road.
SYRACUSE & SUBURBAN RR.
In Feb. 1909 a syndicate headed by Mr. John J. Stanley of Cleveland.0 ,
the Syracuse h Suburban. V SR p 507
purchased the stock of
-The property was baught in at foreclosure sale on
Foreclosure Sale.
below.
Feb. 24 1922 for $10,000 by the bondholders' committee named
V. 114, p. 948.
-The committee named b9low has adopted a plan
Reorganization Plan.
brief for a new corof reorganization (V. 114, P. 1064) which provides in the property. The
poration in New York, to take title to and operate the committee by
property, together with such cash as may be raised by
assessments, &c., will be transferred to the new company in return for new
securities which it proposes to issue on the following basis of exchange:
Terms of Exchange.
Outstanding. -Will Receiree-Existing Securities, &c.lstM.Bonds. Stock.
)5400,000 fx$360.0001 $75,000
First Mortgage 5s
lx 40,0001
do assessment (10%)
Y 87,000
(7)
Outstanding notes hell by banks
75.000
Y 25,000
Guarantors and bonds of notes
150.000
150,000
First Consol. Mortgage 5s
of bonds to the holders of the present $100,000 Firs.
x Tile distribution
Mtge. bonds is conditional upon payment by them of an assessment of
y The use of bonds to take up
10% of their present holdings (see
notes above mentioned is conditional upon the subscription by the holders
and guarantors [the guarantors baing various officers and directors of the
companyt of said notes to 525.000 of bonds at par.
First Mtge. bondholders will be required to pay in cash an assessment of
10% ($100) on each $1.000 of bonds held by them, and will be entitled to
7
receive for such assessment bonds of the new company at par and 1 4 shares
of stock of the new company of the par value of $187 50. Scrip certificates
will be issued for fractional shares.
-The stock is to be held for a period of five years by voting
Voting Trust.
trustees selected by the committee. For further details see V. 114. p. 1064,
N -Chartered .111ne 20 1895. Franchises are perpetual,
()ROA
-On Jan. 1 1921 the co. discontinued service on its
Line Discontinued.
line between Manlius and Syracuse. V. 112, p. 163.
In Aug. 1918 was auth. by the N. Y. Pub. Serv. Comm. to execute a
mortgage to the Fidelity Trust Co., Phila. (changed to Syracuse Trust Co..
Syracuse, N. Y.), as trustee, to secure an issue of $1,000.000 1st Ref. 5%
50-yr. bonds. The directors have authorized the issuance of 5750.000
bonds thereunder (already approved by P. S. Comm.) proceeds to be used
as follows: to be held in trust to retire 1st Mtge. and 1st Cons. Mtge. gold
bonds, $550,000; the remaining $200,000 will be Issued and sold for cash.
one-half to be taken by the bondholders and the other half by the stockholders. The proceeds will discharge floating indebtedness and leave
$55.000 for limpets. and $18,000 for working capital. V. 109. p. 677.
Compare V. 107. p. 605. Up to Oct. 1 1921 this financing had not been
carried out.
-The Aug. 1 1919 and subsequent coupons on the First
Default, &c.
Mtge. 5s are in default. Two protective co n nittees representing respecthe holders of the First Mtge. 5s, due 1927, and the consol. mtge. 58
tively
due 1953, have been formed.
-Chairman, Edward Powell; Irving Dillaye
Committee for 1st .dige. 5s.
Vann, J. S. Farlee, Geo. J. Groff, H. R. Yeager, Robt. M. Greene Jr..
and J. M. Steer°. V. 112, p. 850. Depositary: Girard Trust Co., Phila.
A majority of the bonds, it is reported, have been deposited. V. 113, n.2186.
A reorganization plan worked out under a bondholders' agreement
signed July 31 1919 was not concluded and all coupons, bonds and cash deposited thereunder were returned to depositors. V. 112. p 850. See above.
Interest. Outstanding. Maturity.
STOOK AND BONDS- Date.
See text
$400,000
Stock $400.000 ($100)_
400.000 Aug 2 1927
First mtg $400.000 ($500 and 1897 5 g F-A
c Int. at Fidelity Trust Co.. Phila.. trustee.
$1,000) gold
150,000 May 1 1953
5 g M-N
New cons mtg $550.000 ($500 1903
and $1,000) gold _ _ _c*tf Int. at Fidelity Trust Co. Phila.. trustee.
-Of the 1903 cons. mtg.,$400.000 are reserved for prior Hens.
Bonds.
Dividends.
-In 1915, 13f %: 1916, %. None since.
-For years ending Dec. 31:
EARNINGS.
Sur. or Def
Net(aft. Tax.). 0th. Inc. Charges.
YearGross.
$3,609
def.$20.796
$91,746 def.$17.447$260
1921
def.$32.997
$35,734
$1,348
$2.389
5161,462
1920
-Operates 18.52 miles of track from Syracuse to Edwards Falls
ROAD.
with branch from Orville to Jamesville. Standard gauge; rails, 60 and 90
bs.; 10 passenger and 7 other cars.
-P. & Gen. Mgr., 0. Loomis
OFFICERS.-Pres., J. J. Stanley; V.
-P., W. P. Gannon; Treas., Alan 0. Forbes; Sec., Vt fills H
Allen: V.
Mitchell; A ud. G. W. Avery. C. Loomis Allen operates the road. V. 113,
1889, 2180; V. 114, p. 198. 948. 1064, 2117.
Pi 961, 1252, '

TAMPA, FLORIDA.
TAMPA ELECTRIC CO.
-Incorporated in Florida on Oct. 31 1899. In
ORGANIZATION.
April 1913 purchased the Tampa & Sulphur Springs Traction at foreclosure
sale. Does the entire electric railway, electric lighting and power business
In Tampa and operates an electric railway between Tampa and Port Tampa
and a line to Sulphur Springs. Franchise is for 990 years from 1899. $233,
800 stock Is held by the Public Service investment Co.




TEMPLE, TEXAS.

-4 trolley road
SOUTHWESTERN TR 4CTION CO.
-The road was sold at auction on Dec. 18 1917 to F. F. Downs,
Sale.
W. J. Yeager aad Calvin Green, representing the bondholders. The sale
was consummated and title transferred on July 1 1918 and the property is
being operated by W. G. Haag as trustee for the purchasers.
-Effective Oct. 1 1920 the co. was auth. by the Texas RR.
Fare Increase.
Comm. to increase fares from Temple to Belton from 35c. to 49c. and
between .tations in nrniwtion. V. Ill p. 1370
-For calendar year 1920. gross, $54,058; net, after taxes,
EARNINGS.
12.975. In 1919 gross. $46.701; net, after taxes. $8,971.
-Operates 13.1 miles of track between Temple and Belton,
ROAD
-V. 111.
Tex. with loop in each city. 604b. T rails. Standard gauge.
'
p. 1370; V. 115, p. 1533.

THOMPSONVILLE, CONNECTICUT.
-A trolley road.
HARTFORD & SPRINGFIELD STREET R Y.
-On Sept. 30 1918 Judge W. S. Case in the Superior
Receiver Appointed.
Court at Hartford, Conn., appointed Harrison B. Freeman receiver for the
co. upon application by %V. C. Mason & Co. of Hartford, holders of a
$2.500 unpaid claim for coal. V. 107, p. 1384. Compare V. 107. p. 1287.
-Will be found in V. 112;
Statement by Receiver Regarding Co.'s Status.
p. 2747. Compare V. 107. p. 2176
Defauft.-In June 1921, the bondholder's committee named below announced that the $600.000 1st Mtge. 5s due July 11921. would not be paid
when due V. 112. p. 2747.
-Chairman. F. R.
Committee for Hartford Springfield St. Ry. 1st Mtge. 5s.
Cooley; A. A. Montgomery. F. J. Kingsbury. Deposits not called for
up to June 10 1921. V. 112. p. 2747.
-Was formerly know;)as the Enfield & Longmeadow
ORGANIZATION.
Electric Ry. (which was incorporated on Feb 11 1895), but in May 1901
stockholders voted to change the name as above, and to reconstruct and
re-equip road. Connects with the Hartford Street Ry. In Hartford and the
Springneld Street Ry. In Springfield, Mass. In June 1901 purchased the
Kant Windsor Street Ry. 0o. Franchises perpetual Controlled the Romero & Enfield Electric Ry. Oce. which on April 1 1904 was merged in the
Hartford & Springfield Street By. V. 78 p 1446. Also purchased the
property of the Windsor Locks Trac Co.. subject to its mortgage. In 1905
the Legislature granted permission to increase stock to 51.000.000 from time
to time, part to be preferred, and also to extend time for construction until
July 1 1907. See 'V 79. p. 2697. In July '1906 absorbed the Rockville
Broad Brook & East Windsor Street Ry., which operated 14 miles of track
from Warehouse Point to Rockville. V. 83. p. 213.
-In June 1919 the company completed arrangements to operate
Lease.
the Suffield Street Ry., extending from Spencer's Corner, Suffield, to the
State line, under a lease from the Connecticut Co. V. 108. p. 2629.
-An increase in farce from 6 to 7 cents was put into
Fare Increases.
effect on May 20 1918 in the zones operated in Connecticut. Effective
April 1 1920. Judge Lucien F. Burpee in the Superior Court at Hartford
auth. the receiver to lengthen the zone distances to 3 1-3 miles and to increase the zone fares from 7 cents to 10 cents. V. 110. p. 1289.
Interest. Outstanding. Maturity,
STOOK AND BONDS- Date.
Common 5500.000($100)--------$500,000
285.000 Nov '12.2%
6 M-N
0
Preferred $500.000 67 non-1 _-_cum redeemable at 110 __
5 g J-J
600.000 July 1 1921
HIM mtge 5600.000 (51.000) 1901
c*tt Interest payable at American Trust Co..
gold
Boston; Treas. of Connecticut. trustee.
161.000 July 1 1924
5 g J-J
Windsor Locke let M $300,- 1904
000 g 31.0001 gu p &Lest,kInterest at American Trust Co.. Boston
290.000 April 1 1926
5 g A-0
Rocky B B & E Wind 1st mtg 1906
5300.000 g gu (51.0001.c*tf Int.atAm.Tr.0o..Boa.;Treas.of Conn-trust.
Bonds.
-See V. 78. to. 1223. The Windsor Locke bonds are guaranteed,
prin. and Int. by the Hartford & Springfield Street Ry. Trustee, Treas. of
State of Conn. These bonds are subject to call at 110 and int. on any int.
late. Rocky. Broad Brook & East Windsor Street Ry. bonds are guar..
p. &i.. by Flartf. & Springf St. Ry. They are @LOA to call at 110 & int.
Dieidends.-On pref. in 1906, 67.; in 1907. 67; none to May 1910. when
1_% was paid; Nov.. 2% In 1911, 5%. In 1912, May 2%; Nov, 2%.
None since.
-For years ending Dec. 31:
EARNINGS.
Interest. Sur. or Def.
Net.
Exp. & Tax.
Gross.
Yeardef.$39.500
516.199 $48,656
1921
5431.783
5447.982
def. 72.770
48.610
def. 24.160
289.114
264.954
1920
def. 51.929
48.658
def. 3.270
260.485
1919
257.214
-Owns 13 miles of track from State line to East Windsor
ROAD.
and 7.80 miles (formerly
Hill, which was formally opened on Jan 15 1902.
Somers & Enfield Electric Ry.)from Thompsonville to Somers. Also a line
from Suffield to a connection with the Hartford Street Ry.. 9.70 m . and a
line from Warehouse Point to Rockviiie. 14.45 miles. Has trackage
rights in Hartford and Springfield, making total mileage operated, including
-lb. T rail. 46 cars.
sidings. 44.95 miles. Standard gauge. 56. 60 and 70
V.
-P., T. 0. Perkins, Hartford,
-Pres.
OFFICE RS.
Conn.; Gen. Mgr., Wm. Walker, Warehouse Point, Conn.; Tress Geo S.
-V.
West, Boston, Mass.; Asst. Treas., Lester E. Flint, Boston, Mass.
110, p. 1289; V.111, p.895; V. 112, p.2747; V. 114,p.306; V. 115.P. 183.

TOLEDO, OHIO,
TOLEDO BOWLING GREEN & SOUTHERN TRACTION CO.
ORGANIZATION -Incorp. in 1901 as a consolidation of the Findlay
St. Ry.. the Toledo Bowling Green & Fremont Ry and the Hancock Light
k Power Co. of Findlay. 0. Formerly leased to the Toledo Urban & Interurban By., but rental due April 1 and July 1 1908 haying been defaulted:
lease was canceled.
The entire property of the Toledo Urban & Interurban Ry. was sold on
Aug. 23 1909, under foreclosure, to the Toledo & Findlay Ry. Co., which
property was afterwards purchased by Toledo Bowling Green & Southern
Traction Co., and the latter company assumed it. bonded debt. V. 88. D.
1439 V. 89. p. 105. 412.
In Feb. 1915 was granted a new franchise for 25 years in Findlay. The
sld franchises had 10 years more to run, but were canceled.
In Oct. 1916 the Ohio P. U. Comm. auth. the issuance of $141.500 additional 1st M.5s for impts. and the discharge of obligation,. Up to Oct. 1
1922 these had not yet been issued.

138

'ELECTRIC RAILWAYS

Fare Increase.
-In July 1918 was auth. by the Ohio P. U. Comm to
Increase its mileage charge. effective Aug. 1 1918. V. 107, p. 403.
On Feb. 14 1921 the co. was granted a cost-plus franchise by the Findlay
City Council, providing for a 7% return on the valuation and effective
about Mar. 17 1921. An initial fare of 8 cents was provided for, an increase of 3 cents over the then existing rate. V. 112, p. 850,933. See also
V. 112, p. 1618, 2085, 2307. In Mar. 1922 fares were raised 10 cents between Bowling Green and Toledo, Ohio. V. 114, p. 1409. See also
V. 114. p. 2471; V. 115, p. 75.
The holders of the $1,003,500 outstanding 1st Mtge. 5s duo May 1 1921
agreed to extend same for 20 years to May 1 1941 at 6%. Compare
V. 111, p. 2326, 2521.
For valuation of Findlay property, see V. 112. p. 163.
STOCK AND BONDS- Date.
Interest. Outstanding. Maturity
Common $1,500.000
$1,125,000
• Fret $750,000 (non-cum)__ _
750.000
See text
Q-F
First mtge $1,500,000 gold 1901
6 g M-N
1.003,500 May 1 1941
($1.000 and $500)
ntf Int. at Central Trust Co., Ctn.. trustea
Toledo & Findlay mortgage 1910
5 J-J
480.000 Jan 1 1936
$500,000 gold
ntf Union Say. Bank & Trust Co., Ctn., trustee
Findlay Street 1st cons mtge 1899
5 g J-D
275.000 Dec 1 1924
3275,000 gold
ntf{Central Trust Co., Cin., trustee. Int. at
Metropolitan Trust Co.. N. Y.
Bonds.
-Of the bonds of 1901, $275,000 are reserved to retire Findlay St.
By. bonds. Those bonds were originally 5s but at maturity in 1921 were
extended for 20 years at 6%. The Toledo & Findlay mtge. is a first mtge.
on the property of the acquired Toledo Urban & Interurban By.
Dividends.
-On pref.. 1 j% quer. from Aug. 1910 to and Including Aug
1914. None since
EARNINGS.
-For years ending Dec. 31:
Cal. Years- Gross.
Net, after Taxes. Bond, &c., Int. Bal., Burp.
1921
$701,791
$156,011
$91,615
S61 ,011
1920
$649,055
$95,368
$91.526
$3.842
ROAD.
-Comprises 51 miles from Toledo to Findlay. 60
-lb. and 72-11a
T and girder, rails. Owns 21 passenger and 5 freight motor cars, 7
freight non-motor cars and 3 work cars.
OFFICERS.-Pres., Edward Goepper; V.
-P., Chas. Kilgour; Sec. &
Treas., A. J. Becht, all of Cincinnati; Gen. Mgr., Chas. F. Smith, Findlay.
Offices, Findlay, 0.-V. 112, p. 933, 1618, 2085, 2307; V. 114, p. 1409,
2471; V. 115, p. 75.
TOLEDO FOSTORIA & FINDLAY RAILWAY.
ORGANIZATION.
-Incorporated in 1900.
In Nov. 1916 purchased the 11q-mile line of the Lake Erie Bowling Green
& Napoleon RR., between Pemberville and Bowling Green (bid in at receiver's sales on Aug. 6 1916 by the bondholders. V. 103, p. 666, 1032;
V. 103, p. 1889.)
Fare Increase.
-In July 1918 was auth. by the Ohio P. U. Comm. Is
increase its mileage charge, effective Aug. 1 1918. V. 107, p. 403.
STOCKS AND BONDS- Date. Interest. Outstanding.
Maturity.
Stock common(3100)-$700,000
----- --Stock pref 5% corn($100)___800,000 See text
Q-J
First Mortgage $450,000 gold( 1900
6 g A-0
354,000 Oct 1 1940
($1,000)
cl Int. at Cleveland Trust Co.,Cleve., trustee
Bonds may be called at any time. Originally matured Oct. 1 1920 and
bore 5% int. but were extended for 20 years at 6%. Sinking fund began
July 11905. 396,000 bonds have been retired.
Dividends.
-1X% is being paid quarterly on preferred stock.
EARNINGS.
-For calendar year:
Calendar Year1920.
1919.
1918.
Gross
$384,943
$307,611
$267,494
Net, after interest and
53.107
45.452
35,223
ROAD.
-Operates 64 miles between Bowling Green, Toledo, Fostoria
and Findlay. Portions between Pemberville and Toledo put in operation
In June 1908.
OFFICERS.-Pres.. H. 0. Greer, Morgantown, W. Va.; V.
-P., 0.0
Peruse11 Jr., Dover; Sec. & Treas., A. J. Krantz, Dover; Mgr., E. Smith
Fosteria.-V. 78. P. 704; V. 103, p. 1889; V. 107. p. 403.
TOLEDO & INDIANA RAILROAD CO.
-A trolley road.
ORGANIZATION.
-Incorporated in Ohio in Jan. 1911 and on June 29
1911 took over the Toledo & Indiana Traction Co.(V. 93, p. 230), assuming
all of latter's liabilities. &c. The Toledo & Indiana Traction on Feb. 5
1910 was successor of the Toledo & Indiana Railway, sold under foreclosure
on Jan. 18 1910. V. 90. p. 237, 448. Most of road is on private right of
way. Franchises are perpetual except one for road crossings in Fulton
County. expiring in 1935.
Effective July 22 1920, fares were advanced from 23i cents to 3 cents per
mile. V. 111. p. 390.
STOCK AND BONDS- Date.
Interest. Outstanding. Maturity.
Stock $1,040,000
Q-J
$1,04e.000
See text
Tol & Ind Trac 1st mortgage( 1911
5 g J-J
400,000 Jan 2 1931
$400,000 gold ($1,000)_c*lInt. at Columbia Trust Co.. N.Y.. trustee.
Bonds.
-Toledo & Indiana Traction lit M. bonds are subject to call al
10234 and int. on any int. date. V. 92, p. 1244. 1376.
Dividends.
-Dividends at the rate of 4% per annum were paid to and
ncluding Dec. 1916. None since.
EARNINGS.
-For calendar year 1921, gross, $391,442; net, after taxes,
$25,356; bond, &c., in, $22,811; bal., surp., $2,545. In 1920, gross,
$397,487; net, aft. taxes, $31,401; bond. &c.,int., $22,811; bal., sur., $8,590.
ROAD.
-Operates 55.77 miles of track from Toledo westerly to Bryan,
Enters Toledo over tracks of Toledo Railways & Light Co.
OFFICERS.-Pres., L. R. Schenck; V.
-P. & Gen. Mgr., H. C. Warren
V.
-P.. S. D. Carr; Sec.. C. F. Chapman, Jr.; Treas., H. W. Potter; Aud
0. Baker. V. 108, p. 1166; V. 111, p. 390.

TRENTON, N. J.
TRENTON & MERCER COUNTY TRACTION CORPORATION.
ORGANIZATION.-Incorp. on Oct.6 1910 in New Jersey with $10.000
stock ($100), increased in Nov. 1911 to $400,000, of which $200,000 Is prof
V. 93. p. 1260. On Oct. 15 1910 leased for 990 years Trenton Street Ry.
Mercer County Trac., Tren. Ham.& Ewing Trac. and Trenton Penningtor
& Hopewell St. By.at a rental of 380.000 the lit year,$82,500 the 2d,$85.
000 the 3d, then increasing $5,000 yearly until the maximum of $150.000
Is reached.
In Jan. 1918 failed to pay rental on the Trenton Street Ry. properties
but was granted an extension of time until April 1 1918 and then to July
1918 in which to make payment. (Up to Oct. 1 1922, we are Informed1
this had not been paid.)
Fares.
-Effective Oct. 15 1918. was auth. by the N. J. P. U. Comm
to discontinue the 5-cent fare with 6 tickets for 25 cents and to establist
a straight 6-cont fare instead. V. 107, p. 1288. In Oct. 1918, however
Jestice Trenchard in the Supreme Court at Trenton_, N. J., allowed the
city of Trenton a writ of certiorari to review the P. U. Comm.'s action it
granting this increase. A stay was issued at the same time which prevented
the co. from collecting the 6-cent fare unless a receipt was given to eact
person for the extra fare charged. V. 107, p. 1482. On Oct. 22 1911
Justice Swayze in the N. J. Supreme Court upheld the Comm. re actior
and on Mar. 3 1919 this decision was affirmed by the Court of Errors and
Appeals. V. 108, p. 974. Effective Jan. 4 1920, was auth. by the N. J
P. U. Comm. to increase fares in Trenton from 6 to 7 cents with an extra
charge of 1 cent for initial transfers. V. 110, p. 79. In June 1921 was auth.
-cent fare with a 1-cent charge for transfers. The company
to collect an 8
-cent cash fare. V. 112, p. 2750.
had applied for a 10
-See V. 111, p. 494.
Equipment Trust Certificates.
-See V. 106, p. 1346.
Favorable Tax Decision.
-Reproduction cost new of the property as a going concern
Valuation.
was estimated in April 1921 by Ford, Bacon & Davis, engineers, N. Y.. at
$9,391,228, based on Sept. 1 1920 prices for labor and material. For further
details see V. 112, p. 1268.
EARNINGS.
-For cal. year 1921, gross, 31,545,566; net after taxes,
$174.362. In 1920, gross, $1,401,883; net, after Lanese $151,505.
ROAD.
-Owns and controls by lease about 72 miles of track, comprising
all local street railway in Trenton and interurban lines to Yardville, Trentor
Janction, Pennington, Hopewell, Lawrenceville, Princeton and Hamilton
Square.




[Vol,. 115.

OFFICERS.-Pres., Rankin Johnson.
-V. 108, p. 974. 1512; V. 110. P •
79, 262. 563; V. 111, p. 494; V. 112, p. 1868, 2750.
kJ.) Frenton Street Ry.-Trolley. The United Power & Transporta•
non Co owns 19,969 out of the 20.000 shares of stock outstanding.
Lease.-Is leased to Trenton & Mercer County Trac. Corp. (see above)
V. 91, p. 1513.
0RGANIZ ATION.-Formed June 29 1898 by consolidation of the Tren.
on Passenger By., Mulberry Street Passenger Ry.. Pennington Avenue
Passenger Ry. and Ewing Passenger Ry
On June 19 1899 the Mercer County Traction Company was formed
with a capital of 3100.000 to enable the Trenton Street Railway ComosoY
i;o build an extension of 11.42 miles into Princeton and In th city 'If Tren,
ton. The entire stock is owned by the' United Power & Transportation
Co. Is operated as a part of Trenton Street By. system.
STOCK AND BONDS- Date.
Interest Outstanding. Maturity.
3tock 32,500,000 (par $50)rrenton Passenger first mtge i
75,000 1920-1925
$840.000 gold (31.000 I 1891
6 g A-0 ($15 0 0 d 0 yly Sept. 30
31.0 0.0 ue
.00 0
each)
100,000 1926-1930
Interest at Mechanics Nat.
($20.000 due yly Sept. 30
Bank, Trenton, N J
I
650.000 Sep 30 1931
Consolidated mortgage( 1898
5g
1.159.000 July 1 1938
gold $2,000,000 ($1,000) c5 Interest in Trenton at Mechanics National
Bank; Girard Trust Co., trustee.
fronton St Ry gen M $500q 1911
6 J-D
3500.000 June 1 1941
000 gold (31.000)
c* Banke a Trust Co.. New York. trustee.
Guaranteed Bondstrenton Pennington & Hope 1903 6 g J-D
350.000 June 1 1943
first mortgage $350.000 Int. at Fidelity Trust Co.. Newark. trustee.
gold guaranteed
Guar., prin.
i&int.. by Trenton Street Ry.
rreuton Hamilton & E 1st M 19
500,000 Nov 1 1955
$500,000_($1,000) gold__c* Int. at Real Est. T.I. & Tr On , Phila.,trus.
Mercer Co Tr 1st M $300,000 1904
5 J-J
299,000 July 1 1944
gold ($1.000) guar p & Lc* Real Est. Tit. Ins.& Tr.Co.. Phila.. trustee.
Bunch.-$810,000 consolidated 5s of 1898 are reserved to retire
rrenton St. Ry. gen. M. bonds are subj. to call at 105 & Int. on first 6s.
day. V. 93, p. 797. Are listed on Phila. Stock Exchange. any Int.
Mercer
County Trac. Trenton Pennington & FIopewell and Trenton Hamilton &
Ewing Trac. '
bonds are guar. p. & I. by end. by Trenton Street Ry. V. 94.
p. 826, 1696.
OFFICERS.-Pres., John A. Rigg; Sec. & Treas.. T W. Grooket
-V. 93. p. 797; V. 94, p. 828: V. 105.p. 2273; V. 106, p. 1901. 2230.Jr.
NEW JERSEY & PENNSYLVANIA TRACTION CO.
-A trolley road.
Owned by Pennsylvania-New Jersey Railway Co
ORGANIZATION.
-Incorporated in New Jersey on Nov. 14 1901 and
acquired the Trenton Lawrenceville & Princeton RR., the Trenton Lawrenceville & Princeton Extension RR. and the Princeton Street Ry.
On May 13 1913 the Trenton New Hope & Lambertville St. Ry., Yardley
Morrisville & Trenton St. By. and the Newtown & Yardley St. Ry., formerly owned, were taken over by the Bucks County Interarban RY
see
that company under "Newtown, Pa." On May 15 1917 the co. transferred
1500.000 of its $1,000,000 capital stock to the Bucks Co. Interurban
Ry. (now Pa.
-N. J. Ry. Co.), the other 3500.000 being surrendered and
canceled
Sub. Co. Merger.
-In Sept. 1922 the C3. was auth. by the N. J. P.U.
Comm. to consolidate its Princeton Division (incl. the Trenton Lawrenceville & Princeton By., the Trenton Lawrenceville & Princeton Extension
RR., and the Princeton St. Ry.) into a corporation to be known as the
Trenton-Princeton Traction Co. V. 115, p. 1632.
Franchises are perpetual. except In Trenton. which runs to 1953
Fares.
-On Feb. 23 1912, owing to a Court decision, reduced fares from
Trenton to Yardley from 10 to 5 cents. V. 94, p. 631. This decision was
reversed by the New Jersey Court of Errors and Appeals on Nov 18 1912.
In Jan. 1913, in response to a petition by the receivers, the Board of Public
Utility Commissioners fixed the rate of fare between Trenton and PrIneetoo
at 15 cents instead of 10 cents, and on Oct. 10 1918 the Board auth. an
Increase to 20c. providing for 4 fare zones and continuing the sale of commutation tickets at 12 for $1. On May 10
'
by
N
P. (3. Comm. to increase fares from 5 cents1918 was auth.eachthe the J.
to 6 cents In
of
4
tones between Trenton and Princeton and to eliminate commutation
Sickens, effective May 27 1918. On Dec. 8 1918 the rate was advanced to
7 cents per zone in order to enable the co. to meet the inereased wages
awarded its employees by the War Labor Board. V. 107. p 2290 In
May 1921 the P. U. Comm.suspended for 3 months the
increase in fares from 7 to 10 cents. V. 112, p 1978company's proposed
Increase from 7 to fi cents was authorized, and the 10 In Aug 1921 an
-cent fare denied.
V. 113. p. 960. The company, however, refused to put into effect the S-cent
fare, and It was stated that the company might appeal from
sion's action. V. 113. p. 1251. In Oct. 1921 the Comm.the Commisaffirmed its
lecislon and refused to grant a rehearing V. 113.
S. Comm. In May 1921 auth. an increase In faresp. 1675. The Penna. P.
on the company's
sylvania dIvialons running out of Trenton from S to 10 cents. V Penn112.
p• 1978. Effective Mar. 15 1922 passenger and freight rates were reduced.
See V. 114, p. 1063, for details.

Freight Rates.
-Effective Dec. 8 1915 was auth
Increase freight rates
approximately 10%. In Dec. 1920 was auth. to put Into effort
a 40%
Increase in commodity freight rates and a 20% increase in package express
tariffs. V. 111. p. 2521.
STOCK AND BONDS- Date.
Interest. Outs:andlity
&futurity
3tock $500.000 ($100)first mtge (See text) gold
f 1902
4 g M-N
S50 : 02 Isny- 1 -1455
6 0 09
00
(31.000)
c*tf I Int. at Trenton Tr. & Safe Dep. Co trustee.
The 1st M. was originally for 33.000,000, but has been closed at $600,000.
Stock.
-The $500.000 reported outstanding is held by the Pa.
-N. J.
iy. Co.
ROAD.
-Comprises 13.25 miles, as follows: N. J. & P. Trac. in Trenton
and Lambertville, 1.70 miles; Trenton Lawrenceville & Princeton RR.,
6.66 miles; Tren. Law. & Princeton Extension RR.. 1.46 minks and Prince •
on St. Ry..0.53 mile. Gauge.4.ft. 8)4 in.; 70 and SO-lb Trail and 91-lb.
circler.
EARNINGS.
-For year ending Dec. 31 1921 (Princeton Division)
gross, 3129,72.5; net, after taxes, $18,081. In 1919. gross, $123,339;
net
after taxes, $23,905.
OFFICERS -Pros., Sydney L. Wright, Phila V P & G.n %ler ,
Gaylord Thompson, Trenton; Soc. & Treas., John M. Morrissey.
-V.
P. 533, 731, 960, 1251, 1471, 1675; V. 114, p. 1063; V. 115, p. 1632. 113,

TROY, N. Y.
TROY Ec NEW ENGLAND RAILWAY.
-A trolley road.
Road massed Into hands of receiver Jan. 311908. On July 1
1907
was acquired by the Del. & Hudson Interests. all Indebtedness was contr I
adjust, d
wed receiver discharged. V. 85. p• 10 .
0
ORGANIZATION.
-Incorporated Dec. 17 1889. Mostly private rig) t
of way. Franchises perpetual
Fare Increase.
-On Jan. 18 1921 the co. was auth. by the
P. 9.
./omm. to increase fares la each of its three zones from 6N. Y.cents,
to S
V. 112, D. 663.
STOCK AND BONDS- Date.
Interest. Outstandtng
Maturity
Rock $350,000 ($100)
3180.000 See text
First mortgage $160,000 gold( 1,895
5 g F-A
160.000 kug 1 1945
5500
lint, at office of company. Albany. N. Y
Dividends.
-In 1910. Jan., 4% In 1911 Ian., 4%. Dec
%. In
012, Dec., 3%. In 1913. 2%. In 1914, 234% None since.
EARNINGS.
-For cal. years:
YearGross,
Net. 0th Inc. Chys.ct Tax.
npricit
1921
31.967 def.310.186
$303
$13.507 dof.323.390
1920
39,442
def. 4,955
362
12.550 def. 17.143
ROAD.
-Total track, inoluding aldinga 9.15 miles: ats,n1 ae1 e. r
• laid
with 65-lb. rail; running from Albla to Avorill Park. 21 cars
(19 owned. 2
eased).
OFFICERS.
-Pros., L. F. Loren New York; V.
Williams ,
ST. Y., and H. B. Weatherwax, Albany; V.-P. & -Ps., W
Asat to Pres.. w B.
Schofield, N.Y.; Sec.. F. M. Olyphant, N. Y.; Comp.,
W. E. Eppler, Arid,,
D. L. Waters, Albany, treas. 0. A. Hoag, Albany:
N. V .. Gen Mgr.,
A. E. Reynolds, Albany.
-V.83, P. 437; V. 85. p. 100; V. 112. p. 663.

139

ELECTRIC RAILWAYS

OCT., 1022.]
TUSCALOOSA, ALA.

TUSCALOOSA RAILWAY & UTILITIES CO.
ORGANIZATION.-Incorp. In Oct. 1915 as a consolidation of the belt
-Tuscaloosa Ry
railway formerly owned or controlled by the Birmingham
was operatsd
k Utilities Co.. and the Tuscaloosa Ice /t Lt. Co. The railway it is strictly
electrified;
as a steam line until 1914. when it was extended and
to and from all
terminal railway, handling freight and passengers roads entering
is belt and
all steam
railway stations and has interchange tracks withmiles operated, 14. Al.(
Tuscaloosa; extends to the town of Bolt; total and ice to Tuscaloosa sea
competition electric light, gas
supplies without
front-his,
The
suburbs. Capacity of co's ice plant. 60 tons per day.of 30railroadduration
years*
Is perpetual and the gas and electric franchises are
contract with the city of Tuscaloosa. Power is put
Has electric-lighting
the co.'s own
shafted under long-term contract from the Alabama Pow Co..
plant being maintained as an auxiliary.
and to
-On Nov. 17 1920 was auth. to put into effect higher fares
Rates.
Increase She rates for lighting, gas and power.
Interest. Outstanding. Maturits
STOCK AND BONDS- Date.
8300.000
Stock $300.000 •
969.300 July 1 1941
6 g J-.I
First mtg $1,000,000 ($1,000,1 1915
gold_ _c*tflRepublic Trust Co.. Philadelphia. trustee
8500 and $100)
and impos at
Bonds -Remaining bonds are reserved for exts., equip. description ot
date. See
SO% of cost. Red. at 102 and int. on any int.
bonds and property in V. 102. p. 1898.
-For years ending Dec. 31:
EARNINGS.
Surplus.
Interest.
Net.
Exp.,*Taz.
Gross.
Year$56,744
$60.000
$116.743
$281,808
1921...___$398.552
60,564
58,158
118,723
253.387
372,110
1920 --V. 103. p. 1120.

VICKSBURG, MISS.
VICKSBURG LIGHT & TRACTION CO.
the
OROANIZATION.-Incorp. In Miss. on July 1 1912. taking over
Vicksburg Trac. Clos Vicicshurg U. & Pow. Co., Vicksburg & Yazoo Trac
electric
Co. and Electric Power Co. Operates the entire street railway and
rut
lighting business in Vicksburg and auburbs. Franchises In Vicksburgcity
the
tma1 street railway. 1049. (h) lighting 1946. For railway outside
States Government.
bas grant from United
Interest. Outstanding. Maturitr
Date.
STOOK AND BONDS0
$1 00 .000
__
_
Stock $1.000 000 ($100).
1,001.000 July 1 1932
5-7 J-J
First mtge $1.500.000 joie 1912
truss..
t Int. at Central Tr. Co. of Ills (Mile., I
($500 and $1.000)____c5t
1930
279.110n Niar
Debenture bonds $400.000 1920 6 aisaTr no. of VI Chic., tru tee.
sold (at non)__ . . _•-•er in. at Central
outstanding $763,000 are 5s and
-Of the First Mtge. bonds
Bonds.
$705,000 first mtge.
$238.000 are 5s with 2% interest coupons added.
at 85% of cost. Redeembonds are reserved for additions and extensions p. 49. Debentures are reV. 95,
able at 105 and int. on any int. date.
96, p. 488.
deemable at 101 and int. on any int. date. See V.
-12 months ending Dec. 31:
EARNINGS.
1918.
1919.
1920.
Yr.end.Auq.31'22. 1921.
$299,363 $293,802 $290,966 $245,192 $209,713
Gross
53,528
82,888
82,888
89,713
98,527
Net, after taxes
-Owns and operates 11 miles of track: standard gauge; mostly
ROA 0.
110-lb T rails: 20 cars.
-P. & Treas.. J. N. McCallum:
OFFICE RS.-Pres.. I. 0. Elston Jr.; V.
-V.95, p. 49; V. 96. P. 287.
S. Myers.
See.,0. G. Johnson;(len. Mgr.. E 240.
p.
8: V. 99. p. 200. 895: V. 103.

WARSAW, IND.
WINONA INTERURBAN RAILWAY CO.
Dfectutt.-Oct. 1 1915 Int. on Peru Div. bonds, and Jan. 1 1916 Int. on
Goshen Div. bonds defaulted. The proposed plan of reorganization(V.101.
s. 1190) was not approved by the committee for Goshen Div. bonds.
Plan for Reorganization of Goshen Dirision.-In June 1922 a plan for the
The plan provides
reorganization of the Goshen Division was announced. the transfer of the
for the foreclosure of the Goshen Division mortgage and
property and other assets taken in behalf of the bondholders' committee
(see below) to a new company to be organized in Indiana and to be known
company is
as Winona Northern By. or such similar name. The newMtge. bonds to
in
-year 1st
issue $562,500 capital stock and $187,500 6% 20 pronosed to exchange for
and other assets. It is
payment for the property
each $1,000 of Goshen Division bonds accepting the plan, 15 shares of stock
see
(Dar $50) and $250 of bonds of she new company. For further details
V. 115, p. 75.
25 1916 on the
. J. Munton was appointed receiver on July
Receiver
petition of the First Trust & Savings Bank. Chicago. and E. K. Boisot.
rustees. insult to foreclose mortgage on Goshen Division. V. 103.p. 408,
rnnimittee for Goshen Din. 1st Mtge. St-i. D Mortimer. Pres. North
American Co., N.Y., Chairman: S. J. -traus; Max W.Babb: H. H.Phillips,
209 So. La Salle St., Chicago. Sec.; Central Trust Co. of Illinois, Chicago,
depositary. V. 101, p. 1975.
ORGAN IZATION.-Entire common stock is held by directors. Franchises are for 50 years. Leases the Winona & Warsaw Ry. ($10,000 stock
lo1 $44
snd0. .000 bonds). operating 43( miles of track, for 99 years from Jan. 1
-In May 1919 was auth. by the Ind. P. S. Comm. to
Fare Increase.
Increase passenger fares from 2 Scents per mile to 2.75 cents a mile:to charge
s straight 5-cent fare In Peru: to establish a 10-cent minimum fare,for inter
urban service. &c. V. 108. p. 22.12. Compare V. 107, p. 802. In Oct'
1920 was auth. to raise passenger fares to 3 cents per mile.
Interest. Outstanding. Maturity
STOCK AND BONDS- Date.
See text
Oommon $600,000 ($100)_
Prof 8600,000 6% cumulative_
8150.775July 1 1925
5 g J-J
let M $750,000 1905
Goshen Div
gold 4500 and $1.000).___ Int. at First Trust & Say. Bank, Chic.,trust,
Oct 1936
1.593.700
A-0
Peru Division first mortgage 1906
Union Trust Co., Indianapolis, Ind.. trustee.
82.000,000 gold
Division bonds are a lien only on the section of road be.
Bonds.-Goshen
iweeti Warsaw and Goshen. Of the amount reported outstanding. $52.000
Are subject to call at 105 and
are unsold but used as collateral for loans
Int on any Int. date. Peru Division bonds are a lien only on section of road
between Peru and Warsaw. Amount reported outstanding includes $290.200 bonds sold and 51.303.500 used as collateral for loans.
-For year ending Dec. 311921. gross, 5310,309; net, after
EARNINGS.
taxes. $19.933. In 1920. gross, 5322.570: net, after taxes. $36,135.
4,
-Operates 70 milers between Goshen and Peru. Leases 4, miles
ROAD.
of track between Warsaw and Winona Lake.
OFFICERS -Gee. Mgr., J. C. Schade, Warsaw: And., H. 0. Weimer.
-vs 101, P. 1975; V. 103, p. 408; V. 107, p. 802; V. 108, p. 2242: V. 115, IL
75.

WASHINGTON, D. C.

WASHINGTON RAILWAY & ELECTRIC CO.
o Eta A N
TION.-1ncorporated as the Washington & Great Palls Elec
plc By Co. July 29 1892 by sneclal Act of Congresa; name changed to WashVINCENNES, IND.
ington By. at Elec. Cc,. Feb. 11902. In 1902 acquired contrcl of the PotoVINCENNES ELECTRIC RAILWAY CO.
nue Eiectric Power Co. On Feb. 4 1902 purchtosai the asset** of the WashOROANIZATION-Incorp. In Nov. 1921 and on Feb. 1 1922 took over ington Traction & Electric Co., sold at foreclosure Nov 24 1901. and rethe Vincennes Traction Co.. sold at fore- trganized according to plan in V 73, p. 554. and acquired the Columthe operation of the properties of
closure in Oct. 1921. For history of Vincennes Traction Co. see "Elec- bia Ry and the Metropolitan RR by deed in fee, subject to their mortgage
During 1912
ieht The last two roads constituted 57.71 miles of track
tric Railway" Supplement of Oct. 22 1921.
Interest. Outstanding. Maturity. merged with the Ana,costla & Potomac River RR (25 21 miles) and the
Date.
STOCK AND BONDS.
Brightwood Ry. (12.45 miles), both of whose stocks had previously been
8100.000
Capital stock $100.000 _
In 1912 also transferred to the Potomac Eke Power Co the comSee text owned
200.000
First mortgage sinking fund), 1922
r1omnanv furnishes Dower
oany's Interwar in the Great Falls Pow.r
!Mercantile Tr. Co., St. Louis, trustee.
bonds
to the Wash. Bait, at Annan. Elec. RR. Co., the Washington-Virginia By.
Sonds.-Sinking fund retires bonds in 20 years.
Co., the Washington & Old Dominion Ry. Co., and other local companies.
EARNINGS -Of predecessor co. for cal. year 1921, gross, SR3,669;'net, Franchises perpetual.
$29.229; int.. $11,750; bal., sur., $17,478. In 1920, gross, $81,446; net.
Vet luillsem.-,4ee V. 109. p. 1081. See also V. 110. P. 1094; V. 113. p.
$25.721: int.. $11.750; bal.. surs $13.971.
2319. under "Potomac Electric Power co."
In 1916 acquired control of Washington-Interurban RR. Co. (8)( miles)
-Length of road. 6.11 miles. Passenger cars, 10; work cars, 3;
ROAD.
through purchase of its outstanding securities by the Washington at Rockpower purchased.
-P., J. Hugh Powers; Aud. & ville By. Co.
OFFICERS.-Pres.. Ewing R. Emison; V.
On Jan, 16 1915 the stockholders of the Wash Ry & Elec. Co. and the
.
See y. H. L. Bennett; Gen. Mgr., & Treas., L. F. Gillett.
Potomac Elec. Power Co. each authori/fsi an issue of S1,000,000 gen. Irrupt.
en
5% debenture bonds on accounts of exts., add'ns and impts In May 1917
the P U. Comm. auth. the Potomac Elec, Power Co. to issue $1.127.000
VIRGINIA, MINN.
Gen Irnpt 6% Deb. bonds, of which $750,000 were sold forthwith.
MESABA RAILWAY CO.
V 104. p. 2122
°ROA NIZATIoN . -I ncorp. June 27 1914 in Mass. as a reorgantsattor
Merger of Washington Car Lines Proposed. See V 109 p. 677, also V.
of the Mamba Electric Ry. Co. of Maine and the Mesaba Hy. Co. of Minn
109, p. 1274, 1701; V. 110, p. 360; V. 112. p. 1743. 2414; V. 113, p. 962; V.
It acquired all the property of those two companies. &mourned their oblige
road on the Meaabs 115, p. 546, 1322, 1634.Proposed.
Wont; and now operates the passenger and freight electric
-V. 112. p. 2191.
Government Ownership
Iron Range. Minn connecting the towns of Hibbing, Chisholm, Buhl
-See 1914 annual report in V. 100. p. 1251.
Favorable Rate Decision.
Mountain Iron. Virginia Eveleth. and Gilbert. a distance of about :35 miles
In Aug. 1919 the Potomac Electric Power Co. Issued $2 100.000 gen.
Road is on private right of way except in towns, with steam road construe
case 6% bonds to finance the cost of a 15.000 k.w.turbo-generator and of
Sion. Placed in operation March 1 1913.
In lune 1919
Ither Improvements arid extensions. V. 107, p. 701
Maturita
STOOK AND BO 14 194- Date. Interest. Outstanding.
_
hrnocrht out an additional 91.500.000 of this Issue to finance the cost of
$1.575.000
Common 82.500.000 ($100)
2246.
extensions. V. 108, p.
685.000
Pt $1 250,000(5100)7% (cum)
In oct. 1921.t he Potomac El. Power Co. brought out .52.200.0007% gen.
1,211.000 Mar 1 1932
5 g M-S
52,500.000 1912
Memoir. BY 1st
trustee. & ref. mtge. tier. "A" bonds, proceeds being used.'0 reimburse the co for
gold $1 000+ Out( fd__e*tf Int. at Amer Trust Co . Bostonfor future expendi, urea alreay made and to supply addl working capital. V. 113..
Bunds.-$227.006 in sink. fund. Remaining bonds are reserved
V. 113, p. 1162.
1896.
adds. 1,1,1,15 he Subject to call as a whole or in part for sinking fund p. In Dec. Compareco. brought out an issue of $1.000.0(9) 5-yr. gen. mtge.
1919 the
total bonds certified began Jan. 1 1917
.9k fd ?4 es
ini; and In)
*on& to be used in the purchase of 50 new cars costing $620,000. Including
EA ItNINOS.-For years ending Dec. 31:
souipment. and to reimburse the co for melte,expenditure., V 107 ta 2199.
Gross. Vet (aft Tax I. Interest. Maint. Res. Surplus
YearIn
1920 was auth by the P. U. Comm. to issue $341.000 gen.
836.905 impt. Feb proceeds to be used to reimburse co for expenditures already
81.878
851.437
593.599
1921
S282.127
6s,
67.599 made and for the purchase of equipment. V. 110. p. 1090. These had
7.349
53.567
131.836
192n
325,823
-P., Clement R. Ford; Sec.. Agnes not bee. Issued to Oct 1 1921
OFFICEBS.-Pres., 0. Mitchell; V.
Carnomiy: Treas., L. E. Flint; Asst. Treas., .1. 0. Bergeson; Clerk, L. E
-V. 115, p. 1211.
Franchise Tax Dispute.
-V.99. p. 120.
Flint; Asst. See., It. Ilaydock: Gen. Mgr., L. W. Hayes.
Pares -On Sept 14 1919 applied to the P. U. Comm. of the District of
-for-a-quarter tickets and eatablIsh a
Columbia for auth to abolish the 6
straight 5-cent fare V 107 p. 1396 Compare V 107. p. 903. This appliWARREN, PA.
-cent fare, becoming effective Dec. 1
granted the straight 5
cation was
V '07. o 2199 On Mav 291919 was with hy the I' l' (Simon. of
WARREN & JAMESTOWN STREET RAILWAY CO.
1919
to charge 2 cents for transfers. Effective Nov. 1
ORGANIZATION -incorporated in New York and Pennsylvania and the District of Columbia U Comm. to increase fares to 4 tickets for 25
1919 was auth. by the P.
l'rivate right of way, except in Jamestown
Oonaelldated Jou 15 1904
fare, transfer'.between the co.'s lines to
tots a 51)-year franchise and 3 or 4 miles of public right of cents or 7 cents for a single cash
where ',fluently
be free, while inter-company transfers are subject, to a charge of 2 cents.
Way for which perpetual franchises are held.
V 109 p. 2358. On May 1 1920 the co, was authorized to increase fares
In 1919 laaued 5!won() 10-year 6% bonds to retire a like amount of 2d
or 8 cents cash with -I tickets for 30 cents. V 110 p. 17)9 2489 In
mtge. bonds which fell due on Jan. 1 1918.
R
tan 1921 the P U Comm. refused to permit a straight* n cent fare and re1 rent
V 112,
Interest. Outstanding. Maturity
Date.
194trrf)('K A N D
ineed the Inter-comnany transfer chary,' front •.) cent.:
See text p. 163. in April 1921 the S-cent cash fare with 4 tickets for 30 cents was
8200.000
Stock 8200.000 $100)
300.000 July 1 1934 ordered continued until Aug. 31 1921. V. 112. p. 1713
5 J-J
Al that time the
First mortgage c300.000____1 1904
)Interest at Warren (Pa.) Trust Co.. trustee
cents to 7 cents. V. 113. p. 732. On
ticket. rate was reduced from
100.000 Jan 1 1928 Mar. 1 1922 the ticket rate was further reduced to 6 2-3 cents. V. 114. p.
1919 6%
2d swim. iceStf bonds
,
Otsidsrais.-in 149)9. 4°O; In 1)41)9, 8%. in 1910. 8%; in 1911, Jan.. 2%. 1065.
and 3%. In
1914. s,
in 1912. Dec. 2%. In 1913. July, 4%: In.4% or W In 1915 into 1916. 6%
., n.0,4 ho v
- Date.
InPrest. Outstanding. Maturity.
STOOK AND BONDS
,,,,, a, 1;in int()
in 1017 ‘1.7
See text
$6,500,000
In 1921. Jan., 3%; July, 3%. In 1922, Jan., 3%.
Q-M
1920, 6%.
Common $6.500.000 mom
See text
8.500 000
Q-M
Pref 5% cum V1,5410.000($100)
p;AKNIN(;$.-l"ar years ending isse 31.
11.642 350 Dec 1 1951
4 g J-D
Int etTax. Rents,&c.Dtrs;6%)Sur. 1 consol mortgage $17.500.0001 1602
Net
Gross.
0,1
Year$2 932 $12 000 def.$4 0 6
3-in $in 517 $29 701
($1 oon & srom gold. _c•tfl int. at U.S Mtg. & Tr Co N Y.. trustee.
192n
1.000.000 Dec. 1 1923
6g.l.D
090 Gen more 8.5.000.000 (8.500 1918
19 win
2.965
40001
27 305
150.474
1919
est, Mercantile Trust & Dep Co Bait.. Trustee
and $1.000) at
.-For calendar year 1921, gross, $165.839: net, $22,476.
Latest Earnings
1.950.000 Feb 1 1925
5 g F-A
1995
ss .uites ot track (row A, arr.. rft. so Jaua',t.oWfl. Met RR let mtge 31,950.- Interest at Baltimore Trust Az Guarantee Co.
Ipiwrat...
itoA 1,1
0001 gold (SLOW not subDoes an express
N Y .Enters Warren over tracks of Warren Street Rs
trustee, Baltimore
c5tt
ject to call_ s
S
sosh sang
4tandard swore
bersteesa
1990
5 g A-0
-P. & Sec., Homer M.Preston; anacostia & Potomac River Int. at Baltimore Tr.2.979.000 Apr 1 1949
OFF10ERS.-Pres., David II. Siggins: V.
& Guar. Co.. trustee.
first tntge $3.000,000 gold
Jamestown, N. Y.; Treas. at Supt., H. A. Siggins, all of Warreu.-V. 80,
May be called at 112.
sinking funtLetf
($1.000)
P. 482.




140

ELECTRIC RAILWAYS

&tic* ana Bonds.-The preferred stock became cumulative on June 1 1904
The remainder of the consol. bonds ($5,857,650) are reserved for the retire
went of underlying liens. Entire issue is subject to call upon 3 months
notice on any Interest date at 105 & interest.
Of the 5-yr. gen. mtge. bonds. $150.000 In addition to the 31,000.000
' outstanding has been issued and pledged for a loan of 3131.071 from the
U. S. Housing Corp. Bonds may be issued for 75% of the cash cost of
exta. addus. and betterm'te. but only under certain restrictions. During
the life of these bonds no ad(Etional underlying bonds may be issued
Red. all or In part at 101 and int. upon 8 weeks' notice. Listed on the
Washington Stock Exchange.
A portion of the property covered by the Met. RR. 1st mtge. may be
sold and proceeds applied to a sinking fund for the retirement of the bonds
at not exceeding 110 and Int. Bonds cannot be drawn. Of the Anac. &
Potomac River bonds. 3462.000 are guar., p. & 1., by Washington Ry. &
Elec. V. 87. p. 36. $21.000 have been canceled.
Dividends.
-On pref. at rate of 5% per annum from Dec. 1 1904 to and
incl. Dec. 1919. In Aug. 1920 2% was paid. This represented the quarterly dive. of 1 % due Mar. I and June I 1920. In Dec 1920 24% viap_ald (representing the guar. dlys. of 1 (7,, due Sept. and Dec. I 1020)
V_ . 111, p. 1754. Reg. quer. divs. of 14% have been paid since to and incl.
Sept. 1922.
On com.. 1st div. was paid Dec. 1 1909 ;in 1910. 2%; in
1911. 2%. in 1912. 4%: In 1913, March. 1%, June 14%, Sept. 14%;
Dec., 1 % and I% extra. In 1914 and since to and Incl. 1916. 7%. In
1917.6%. In 1918. 5%. In 1919, March, 13'%. None since.

[VOL. 115.

WASHINUroN & MARYLAND KY.
ORGAN IZAT ION.-Incorp. in Maryland as successor to Bait. & Wash.
Transit Co. of Maryland. sold under foreclosure.
The P. U. Comm. of the D. of C. has auth. the co. to Issue $66.000 gen.
6% 30-yr. bonds and $30,000 prior lien 6% bonds; has also approved
a contract by which the Capital Traction Co will operate the co's lines.
Proceeds of the 6% bonds will be used to complete purchase of the properties
of Balt. & Wash Transit Co. In Maryland, and the 5 la % prior lien bonds
will be treed its collateral for 325.000 I v.tv.tes. the ororeetio of whieh
will be used for exts. and Inuits. Application has been made for $25,000
addi bonds to refund advances for limns.. &c
ROAD --i)perato, AboilL
miles ot traek from 14th .t Kennedy Sts.
N. W., to Districtline at Tacoma Park. Md. Extension of 1 mile built
from District line and through service operated by the Capital Traction
Co.since May 11 1918. 60 and 100
-lb. T rail: girder rail on new extension.
Direct service over Capital Traction Co. One fare any place in Dist. of
Col. No transfer.
OFFICERS.-I'res. & Treas., Chas. Selden Jr.. Washington. D. C.;
V.-P.. H. %V. Williams, Baltimore, Md.; Sec., Guy H. Johnson; Aud..
John E. Taylor, 231 Woodward Bldg.. Washington. D. C.

CAPITAL TRACTION.
-An underground trolley road.
OROANIZATION.-in the fall of 1895 absorbed the Washington &
Oeorgetown and Rock Creek companies. See V 61, p. 283. 325, .558.
Operating Agreernent.-By an agreement entered into on Feb. 20 1917
the company took over the operation of the line of the Washington & Mary.
Potomac Electric Power Company.
land Railway Co on May 2 1915.that company having completed the buildInterest. Outstanding. Maturity
BONDSDate.
ing of an extentlou to the sanitarium near Takmna, Ma.
First mortgage (see text) gold; 1904
5 a J-D
$1.700.000 June 1 1929
vahmtion. V. 109. p. 1079.
($1.000)
c.tf Int. at Comm. Tr. Co., Jersey City, trustee.
Fares.-In 1918 was auth by the P. U. Comm.
Cons mtge 37.000.000 gold{ 1908
5.300.01)0 July 1 1936 6 tickets for 2.5 cent- snd to establish a straight to eliminate the rate of
5 g J-J
5-cent fare
Effective
(S1.000) gu p & I by W'ash Int. at Commercial Trust Co.. Jersey City. June 1 1919. was with. to chisree 2 cents for
transfers. V 108. p 2432.
Ry & Electric Co
trustee.
c it
Effective Nov. 1 1919 was auth by the P. U
Gen [loge $5.000.000 ($100,1 1918
July 11923 4 tickets for 25 cents or 7 cents for a single cash Cerruti. to Increase fares to
6g .I-J
3.600.000
fare, transfers between the
$500 $1.000) gold
tf(Guaranty Trust Co.. New York, trustee.
co.'s lines to be free, while Inter-ceinpany transfers are subject to a charge
General & refunding mtge.( 1921
7 g A-0
2,200.000 Oct 1 1941 of 2 cents. oil May 1 19211 ill ro was
Series "A" ($100. $500,{Int. at National City Bank. N. Y., trustee. 8 cents cash, with 4 tickets for 30 cents. am horized to inerease fares to
These rates were originally to
$1,000 & 35,000)- c*Arr*tf
centinue until Jan 1 1921. but was continued to Aug. 31 1921 0 pare
Gen' erupt. debentures.
1915
6F
-A 1
760.000 Jan 1 1926 V 110. p. 1748
At that time the ticket rate was reduced free) 7 ta cents
to 7 cents. V. 113. p. 729. On Mar. I 1922 the ticket rate was further
Bonds.
-The first mtge bonds are red. any int. date at 110 & int. Autb
reduced to 62-3 cents. V. 114. ir• 10
Issue was originally 34.000.000. but was subsequently reduced to $1,700.000
62Proposed Vterger Plan.-See V 109. p 1272: V. 110. p. 359; V. 112. p.
Of the $7.000,000 new consols. $1.700.000 are reserved for prior liens
They are guar . prin. and int.. by Washington Ky. & Electric Co. A 2413; V. 113, p. 729, 959; V. 115, p. 542. 1320.
sinking fund of 2% per annum of bonds outstanding began fan 1 long
STOCK AND Bo NI DSDate.
Interest. Outstanding
Maturity
On Oct. 11922. $995,009 were held alive in sinking fund. See V.85. p. 100. Stock S12.000.000
Q-J
311.000.000 Oct.'22.
($100/_
%
The gen. mtge. bonds in the denom. of $1,000 are registerable as to princi- New first mortgage 36.000.4 1907
5 g .1- D
5.606 000 June 1 194;
pal. 31,400,000 Series"A" gen. Ar ref. 7s are held in treasury for 75% of
000 gold ($500)
cI Int at Union Tr. Co. of the L). of O., Wash.
the cash cost of extensions. additions and betterments. The gen. tinge.
trustee.
provides for a maintenance and depreciation fund of 16% of the company's
Bonde.-Are not subject to call. Part of the bonds Issued were used to
annual gross operating revenue which began in 1918. Red., all or in part,
.
3200.000
at any time on 8 weeics' notice at 101 and int. Interest payable In N. Y. redeem the 31.080.000 outstanding 4% bonds of the 1900 Issue
or Washington. D. C. V. 107, p. 701. Add'i gen. A ref. mtge. 7s may be of bonds are In co '9 treasury and 3194.001) are In co. s Ins reserve fund.
Dividertits.-In 1898 July 1.75".; Oct 1. 75c.. In 1899. four dividends of
issued in equal amount to retire outstanding underlying bonds and for 75%
of cost ext B., add'ns, &c., under certain restrictions. Are red, on any int. 75c. each; In 1900. 34.(%; in 1901. 47. In 1902. Jan.. 1%. April, 1%.
date on 30 days' notice at 107 during first 5 years at 105 during the next, July, 1%. and on Aug '20 an extra dividend of $4 per share was paid from
10 years and at 103 during the last 5 years prior to maturity. Sink, fund of proceeds of sale of old power house: Oct.. 1%. lu 1903 4t( %; in 1904. 5%.
A% of the bonded debt annually for the purchase or redemption and can- In 1905. 5'4 '7.; 1906-1413 Incl. 6'7,, ann.; In 1911 Jan 1 4%; April I 4%;
In Oct. rate was reduced and 1 4% was paid; same rats
cellation of general and refa ell ig mortgage bonds. Iii addl boa, it July, I 4%
In Oet 1918 1 4% was
requires an amount equal to at least 5% of the bonded debt to be usee an- was paid quarterly to arid Including ittly 1918
nually for the adequate maintenance and replacement of the property. paid: same rate quarterly to and incl. Jan 1921. In April 1921_. 1 4% was
V. 113. p. 1896. The Gen. lmpt. debentures are guar. prin. & Int. by the paid. Same rate guar since. In Dec. 1917 an extra div.of 1A % was paid.
Wash. Ky. & Elec. Co. and are equally secured with the Gen. Mtge. In Aug. 1918 au extra dly. of 1. % was paid.
bonds red. at 102%i on any Int. date. Earnings of the Potomac Electric
REPO RT.-For calendar years:
Power Co. have been as tollows:
Calendar
Cross
Net (after 01her Interest,
Balance,
Year- Earnings.
Taxes). Income,
Dividends.
Surplus
Calendar Year1921.
1920.
1919.
Gross receipts
35.086.776 36.466,728 33,683.295 1921____35,501.200 $1.706.940 318.412 3313.648 (7%3840.000 3571.703
8.999 305.656 (6% )720 000 606.072
Net available for interest
1,783,000
1.344,188
1,246,018 1920_ ___ 5.466 518 1.622.720
In 121 395.199,401 passengers were carried, against 96.593.804 in 1920.
Annual interest charges on outstanding bonds, including the $2,200,000
gen. & ref. mtge. 7s, now amounts to 3765.000.
ROAD -Underground trolley, single track (incl. 2.023 miles operated
Property. .tc.-The Washington Ry. & Elec. Co. controls the principal miler trackage agreement). 47.436 11111fig: overhead trolley, 10.922 miles.
street railroads in the District of Columbia and also the Potomac Elec. Pow. tingle track. Total length of road tine! 7.565 miles sidings and turnouts).
Co. which alone is operating, or authorized to operate. In the national 69.410 miles of single track. Otierates 340 closed motor cars. 120 open
capital and which controls the Great Falls Power Co. with undeveleped notor cars. 71 closed trailers, 99 open trailers 9 snow sweepers. 5 sand
water power on Potomac River. The railroad companies have 176 80 III. cars 31 miscellaneous: total. 695 ears. SO to 104-lb. rail.
of track (all under electric traction), while the electric light company has
OFFIOERS.-Pres..
Hamilton: V.
-P. In Charge of
358 tulles of subways with about 1,161 miles of ducts, besides many mitre of J. II. Hanna; V.-P., D. Geo. IC Sec.-Treas.. FT D. Crampton Operation.
S. Carl,:
Asst. Sec,
overhead wires. Owns 655 cars. No of meters Dec. 31 1921. about 54,886. J. E. Ileberle: Asst. Treas. C. B. Koontz.
-V. 107, p. 1191; V. 108, p. 2432;
Generating capacity of power co.. 90.000 k. w
V. 109, p. 1079, 1272, 1609% 1700; V. 110, p. 359, 531, 1748; V. 112. p. 1023.
The following shows the total outstanding stock of the companies con
1431, 2413; V. 113, p. 729,959; V. 114,p. 1062; V. 115, p. 542, 1320.
trolled and the amount of the total shares acquired in each instance by the
Washington Hy. & Elec. Co. up to Dec.31 1921:
WASHINGTON UTILITIES CO.
-A holding company.
MileCapital
Amount
Ain't Not
0110A'liZt TION.-Incorp. In Virginia (as M bryland-Virginla Ry.)
Name of Companyage.
Stock.
Owned.
Owned.
Nov 29 1911. atnen,led Feb. 25 1912 and Nov 7 1912. when the name was
Georgetown A fenallytown RR 8.50
3200.000
$162.950
337.050 changed to the above. On Nov. 26 1912 merged with Washington- Virginia
Washington & Rockville Ry_... 14.436
275.000
275.000
None Ky., but the latter company (see statement below) was obliged to resume a
x Olty & Suburban Railway -41.635
1,750.000
1,635,250
61,750 separate existence owing to refusal of the subsequently created Utilities
Washington & Glen Echo RR
200.000
197.160
2.850 Comm of the Dist. of Columbia to allow the merged corporal inns to Issue
securities provided for in the merger agreement. Owns 150 shame of
Washington Interurban Rft.--- 8.445
50.000
a50,000
Braddock Li. & Pow. Co. stock (valued at 320,000). 3300.000 (of $300.350)
Total railroads
73.016 32.475,000 $2.370,350 $104,659 of Washington & Great Palls& Pow. Co stock, and 3575.100 corn. and
1282.000 prof stock of the Washingtnri- cirultila Ky (lo
Amount
Capital
Ain't NJ
Default.
-The June 1 1919 Int. on the coll. trust 57 notes having been
Name of CompanyOwned.
Stock.
Owned,
defaulted, the following protective committee (reorganized V. 109, p. 271)
Lighting
was formed:
Potomac Electric Power
36.000.000 36,000.000
None
Committee for Coll. Trust 5% Notes.-Rohert N. Harper. Chairman: Wrn.
Braddock Lt. & Power
50,000
a50.000
E. Cadwallader, W. T Gainer, John Poole, Geo. W White and 0 W.
Warden, all of Washington. and Flarold Fl Thorne and Fleury D Rattan,
38.525.000 38.417,750 $107.250 both of New York
Total all companies
City. Depositaries: Metropolitan Trust On., N Y. and
a Owned entirely by Wash. & Rockville Ry. Co. x Aug. 1 1919 int. on the American Security & Trust (Jo., Washineton, 1) 0. Up to early In
the 31.750.000 City & Suburban Ky. 1st M. 58 was paid Nov. 1 1919. Sept. 1919 31.306,000 of the notes had been deposited with the committee.
The Feb. 1 1920 int. on these bonds was paid on April 29 1920. V. 110, V. 109, p. 271. Compare V. 108, p. 2424. No later Information.
D. 1972. The Aug. 1 1920. Feb. 1 1921 and AMC. 1 1921 int, was paid
Sale of
-Default having occurred on the co.'s
when due and all subsequent Int. being paid when due. V. 111, P. 588; notes, the Collateral.pledged thereunder, viz 27,.500 shares coll. tr. 57
security
Wash. Ry &
V. 112, P. 551.
Elec. Co. common stock was sold Oct 1 1919 to the noteholders'committee
The Washington Ry. & Electric owns directly or indirectly the following named above. V. 109, p. 1368. Compare V. 109. p
1081.
bonds of the constituent companies, which, together with the shares of
stock owned ahove, are pledged under the 117.500.000 consol. mtge.;
ST
ckOOK AND BONDS- Date.
Interest. Outstanding. Maturity.
see tnio
1100.000 (entire issues) 1st & 2(1 mtges. of the Georgetown & Tenallytown
83.-io,MOO
Ry.; $180,000 out of a total Issue of $185.000 1st mtge. bonds of the Wash. lollateral trust notes $1.500.-1 1917
5%
1.500.000
& Rockville Ry. (remaining $5,000 being owned by the Wash Ry. Relief
Metropolitan Trust Co.. N. Y. trustee.
000 41.000)
Association); 1200.000 1st mtge. and $50,000 2d mtge. (entire issues) of
Notes.-Are secured by pledge of $2.750.000 corn. stock of the Washthe Washington & Glen Echo RR.; 3150,000 (entire Issue) Washington Ky.& Elec. Co. Red. at par and int. on any int. date on 30 days' notice.
Interurban RR. 1st mtge. bonds. Total. 3680.000.
Dividends.
-Initial dtv. of ji of 1% paid July 1 1912. In 1913, 13(%.
in 1914.2%. In 1915. Jan..•1%. No later information.
EARNINGS.
-On all properties for calendar years:
EARNINGS.
-For calendar year 1913, gross, $233,152: net, after de1921.
1920.
1919.
1918.
Meting interest. &c.. 3132.473: dividends, $107.160; bal.. sur., 325.312.
Revenue passengers____ 85.481.656 87,782.784 91.488.735 80.779.210 No later statement has been received.
24.667.531 24.175.627 20.882.760 23.002.522
Free transfers
OFFICERS.-Pree.. Norman Grey: Sec. & Treas., J. 0. Freeland.
311.811.777 $11.087,858 $9.003,920 57.035.500
Gross earnings
x8,659,410 x8.715,797 *7,110,621 *5,082.516 V. 108. p. 2424; V. 109. p. 171. 677. 1081. 1368.
Expenses and taxes
Net earnings
Other income

33,152,367 32.372.061 31,893.299 $1.952.954
139.800
169.285
80.298
41.749

33.321.652 32,511.861 31.973.597 31.904.703
Total income
$1,776.619 11,711,108 31.591.982 $1,320,591
Fixed charges
425.000
425,000
425.000
Div. on pref. stock (5%)
425.000
None (1 4)81.250 (5)325.000
None
Div. on corn. stock
sun$1,120,033 surS375.753def.$124,635 def.$75.888
Balance
• Includes depreciation of equipment In accordance with Inter-State
Commerce Commission classification of accounts.
x Includes deprecia Ion of way and structures, and equipment in accordance with prescribed rates of P. U. Comm. of the District of Columbia.
OFFICERS.-Pres., Wm. F. Ham; V.
-P. & Counsel. S. R. Bowen;
Treas., A. M. Fisher; Asst. Sec.-Treas. Wm. L. Clarke; Comp., A. G.
Neal; Sec., H. M. Keyser; Asst. Sec., H. W. Kelly; Asst. Treas., V. D.
-V. 112,
Brooks. General offices, 14th and C Ste.. N. W., Washington.
p. 163. 259, 1743, 1868. 2191. 2307. 2414; V. 113. p. 732, 962. 1769, 1883;
V. 114, p. 412. 1065. 1892. 2117; V. 115, p. 646, 1211, 1322, 1634.




WASHINGTON-VIRGINIA RN'. CO.
-Underground trolley In Washngton, overhead outside.
Washington Utilities Co. owns 9575300 of the common stock and
9282,000 of the preferred.
ORGANIZATION.-Incorp. In Va. Oct. 15 1913 to take the place o
former company of the same name which was incorp. In Virginia on June 22
1910. The old on. on Oct. 20 1910 merged into the Washington Alexandria
k Mt. Vernon Ry. (stock $1,500,000) and Was.iIngton Arlington & Falls
Church Ry. (stock 3500,000). Has private right-of-way: franchises in
:Kies perpetual.
The otd company was merged on Nov. 29 Into the Wash. Utilities Co..
out was subsequently obliged to resume separate existence. See Wash.
Utilities Co above and V.
p. 691.
Effective June 11919. was auth. to charge 2 cents additional for transfers.
V 108, p. 2434. Effective Nov. 1 1919, was auth. by the P U. Comm. to
Increase fares to 4 tickets for 25 cents or 7 cents for a single cash fare transfers between the co.'s lines are free, while Inter-company transfers are subject to a charge of 2 cents. On May 1 1920 the co was authorized to
Increase fares to 8 cents cash, with 4 tickets for 30 cents. These rates

OCT., 1922.]

continued until Aug. 31 1921. V. 110. p. 1749. At that time the ticket
rate was reduced from 744 eta. to 7 eta. V. 113. p. 732. On Mar. 1 1922
the ticket rate was further reduced to 6 2-3 ctn.
-The March 1 1919 int. on the Wash. Alex. & Mt. Vernon 1st
Interest.
mtge. 58 was not paid until July 1919. The Sept. 1 1919 int. on this issue
was paid in Jan. 1920. V. 110. P. 168. Compare V. 109, P. 1081, 1271.
The Mar. 1 1920 coupon was paid Feb. 3 1921. V. 113, P. 1984. Int. due
Jan. 1 1921 on the Wash. An. & Church Falls 1st es was paid in Feb. 1921;
fut. on the 2d mtge 5s. due Oct. 1 1920, was paid in Feb. 1921; int. due
Mar. 1 1920 on the 1st consol. 5s, was also paid in Feb. 1921. V. 114, p.2242.
In July 1920 int. on the Wash. Alexandla & Mt. Vernon 5s was overdue.
See plan below. Compare V. 111, p. 295, 1184.
The co. having failed to pay int, on the various underlying Issues (see
above), the following committee was formed to protect the interests of
holders (largely Washington, Baltimore and Philadelphia bankers) of the
Co.'s secured notes due Jan. 1 1922.
-Joseph Wayne Jr.; H. W. Goodall, Van Lear
Noteholders' Committee.
Black, R. Golden Donaldson, C. F. Norment, and W. F. Ham. In May
was stated that over 90% of the notes had been deposited with the
1922 it
Committee, or were controlled by it and that practically all of the corn.
and pref. stock had likewise been deposited. V. 114. p. 2242.
-Chairman. Lewis R.
Committee for Wash. Alex. & Aft. V. tat Al. 6s.
Parsons; John W. Hamer. Samuel J. Steele, Wm. G. Baker Jr.; Sec., L.
Schmidt. 435 Chestnut St.., Philadelphia. Pa. Depositary. Penna. Co. for
Insur. on Lives & Or. Annuities, Phila., Pa. V. 113. P. 2186. 2407.
Committee for Wash. Arlington & Church Falls Mi. Co. 1st Cons. 58.
Chairman. Evan Randolph; Richard F. McKinley and James Trimble.
V. 114, p. 2242.
In Nov. 1020 it was stated that. the plan for the reorganization and finandal rehabilitation of the co. formulated by the noteholders' protective
Committee (see V. Ill. p 1184. for details) had been completed, and the
affairs of the company were being administered under new management.
Of the outstanding capi al stock, 75% had been deposited ti . May 1922
it was stated that practically all the corn. & pref. stock had been deposited.
V. 114, p. 22421 under the roteholders agreement, and the committee
agreed to raise $250,000 immediately to liquidate the more pressing financial
obligations of the co., incl. $83.500 int. on underlying bonds, whch was due
Mae. 1 1920. accum. taYee of $77,000. int. on equip, trust, notes amounting
to $4.000, and current bills. The new management entered into a contract
with Day & Zimmerman under which that firm has taken over the financial
management. V. III, p. 1951. See also V. 112,p. 1743.
interest. uutstanaing. Maturity.
STOOK AND BON Us- Date.
See text
$1.378.300
M-N
Common $2.000.000 iS I 00)_
See text
1.000.000
M-N
Pref $1,000.000 4100) see text ____
2.370,000 Mar 1 1955
5 g M-8
Vex lot MJ 1905
Wash Alex & Mt
$2.500,000 ($1,000) g_ _col Int at Real Estate Tr. Co.. Philadelp.tia.
Wash Arlington & Valhi 0hurcn Ry issues
100.000 July 1 1926
6 J-.I
1895
1st M $100.000 gold
250,000 April 1 1953
I 1903 6 A-0
2d mtge $350.0
trust.
interest at Merchants' Tr. Co.,
Sept 1
602 000 Phila.. 1958
5g M 8
First consol mtge $1.000.- 1908
int. at altard Trust Co.. Phila . trustee
V'
000 gold ($1.000)
See text
5%
eeneral mortgage
849.400 Jan. 1 1922
6%
Secured note., Stir."A" _____
878,500 Jan, 1 1922
6%
Secured notes, ser. "B"
See text
245,000
Hi§ 6%
Equip, trust certificates
entitled to cum dive. of 3% for year ending Nov. 11911.
Stock.-Pref. is
Cltnek lIntad In Phil. A Wash.
tharanftar
4% for next year and 551. yearly
-Or the Wash Alex & Mt Vex. 1st M.. $130.000 are in treasury.
Bands.
The bonds are subj. to call on any int. date at 110 and int. upon 3 months
notice. See V. 80. p 1176. $350,000 Wash. An & P. 0. 1st consols are
reserved for prior liens. $48.000 are in treas., remainder are for betterments,
kc. Bonds were guar , p & 4.. by endorsement by Wash. Alex & Mt "en
By. Subject to call on any int. date at 105 and int. on a mos. notice.
lot, on the Wash. An & Palls Onurcn Ry tat M bonds, payable in Phila.
Walter Hinchman, N. Y.. Is trustee. The equip, trust certifs. mature
$35.000 each Jan. and July 1 until July 11924. V. 114, p. 2242.
-The6% notes due Jan. 1 1922 are secured by a deposit of $3,000,Notes.
000 gen. mtge.5% bonds.
Disidends.-Initial div. on pref.-1 4%-palci Mar. 15 1911; Nov
134%. In 1912. 4%. In 1913. and since 5%. On common, first
div.-1%-pald March 15 1911; Nov., 1.4 %. In 1912 and 1913, 3%
In 1914, May, 1;4%. In Nov. rate Was reduced and 1% was paid. In
1915, May. 1%. No later Information.
-For 12 months end. Dec. 31:
EARNINGS.
Gross. Net,aft.Taz. FizedChges. Deprec'n. Bal., Deficit.
6236.492
$7,200
$311.496
$82,204
$938.103
1921
142,872
7,200
289.309
153,637
1 049.175
1920
-Operates from Washington, D.0, to Alexandria, Mt. Vernon
ROAD.
Arlington, Ft. Meyer, Rosalyn. Clarendon. Vienna and Fairfax. Total
track. 83.34 miles. Standard gauge. 79 cars (of which 59 are passenger).
-Ps., Norman Grey and
OFFICERS -President, John E. Zimmerman; V.
Thomas Roosevelt; Sec. & Treas. 0. R, Bitting. Under management
-V. 109. p. 1610; V. 110, p. 168.
of Day & Zimmerman. Philadelphia.
1749, 1850: V. 111. p. 295. 1184. 1754. 1951; V. 112,p. 1743. 1868: V.113,
p. 732, 1984, 2186, 2407; V. 114. p. 2242.

ROAD.
-Operates 146.6838 miles of track between Baltimore. Washington and Annapolis, of which 13.33 miles are operated under contract. Enters Washington over tracks of Wash. Ry & Elec (Jo. 80-1h T rails.
Standard gauge. Automatic block system in single-track or entire line.
173 cars. Power is purchased from Potomac Electric Power Co. of Washington
-Ps., F. H. Ginn, Cleve
OFFICERS.-Pres., Geo. T. Bishop. Ball.; V.
-P. & Gen. Mgr.. J J. Doyle,
Jas. A. Hemenway, Booneville, Ind.; V.
Balt.; Sec., Geo. W. Williams, Balt.; Asst. Sec. & Asst. Treas., Thos.
Mason: Treas.. Wm. M. Garrett. Baltimore; Aud., W. H. Wright. Bait,
V. 110, p. 1189. 1291; V. 111, p. 790, 2425; V. 112. p. 654,850, 933, 1284.
1510, 1519; V. 113, p. 2615, 2722; V. 114, p. 80. 855. 949. 1536, 2014.
WASHINGTON & 011) DOMINION RY.
ORGAN IZATION.-Incorp. in May 1911 In Virginia as successor to the
-mile line between WashGreat Falls & Old Dominion RR., operating a 15
Ington. D. O.. and Great Falls, Va. Has leased for 50 years from June 1912
and has electrified the Bluemont branch of the Southern Ry., extending
from Alexandria to Bluemont. Va.. about 54 miles. In 1912 completed
Total road oper12-mile connection between Washington and Alexandria
ated, about 81 miles Gross earnings for calendar year 1921. $649.682; in
1920. $652.701: in 1919. $660.920; in 1918. gross. $523.224.
.OFFICE RS Pres , Colin U. Livingstone' V.-Pres., Corcoran Thom;
Sec.-Treas., A K. Stratton; Gen. Mgr. J. V. Davis. Office, Washington, D.0.-V.95. p. 482; V. 111. p. 1473.

WATERLOO, IOWA.
WATERLOO CEDAR FALLS & NORTHERN RY.
-On Feb 29 1020 the company, which for
Released from Federal Control.
a Urne had been operated by the U. S. Railroad Administration, was relaapoid from Government control.
-See V. 112. p. 63. 163: see also V. 113. p. 962. 2820.
Government Loan.
-Incorporated in Iowa In 1895 as Waterloo & Cedar
ORGANIZATION.
Falls Rap. Transit; name changed to above in 1904 by amending articles
of Incorporation. Line opened between Waterloo and Cedar Rapids
Sept 13 1914. Connects at Cedar Rapids. Ia.. with the Chic. & N. W.
Ry. and Chic. Mil. & Si. Paul Ry.
Franchise.-The company accepted the franchise approved at a special
election held on Dec. 5 1917. which provides for a reduced rate of 13 tickets
for $1, and special rates to school children. The franchise also provides
that whenever the gross income for the whole line shall be 5 cents per car
mile in excess of cost of operation, thereafter the company shall share with
the city on all such excess revenues on the basis of 90% to the company
and 10% to the city. V. 105. p. 2186.
-The July 11918 and Jan. 1 1919 Int. due on the Co.'s bonds was
Interest.
not met when due. but has since been paid. Coupons due July 1 1919 and
Jan 1 1920 were extended 4 years by scrip certificates Issued. Subsequent
interest paid when due up to luly 1 1921. None paid since. Jan. 1922 int;
having been defaulted, the following committee was formed:
-Chairman Edward V. Kane, M.A. Devitt,
Committee for First Mtge.53.
Arthur V. Morton and R. O. Wilsey. Deposits have not been called for.
V. 114. p. 1768.
-The co. filed for record a gen. mtge. to the First
New Mortgage.
Trust & Savings Bank, Chicago and M.Traylor, Chicago, trustees, to secure
an issue of $15,000,000 gold bonds dated May 11920. due May 11950, but
subject to prior redemption. The issue was created for refunding purposes.
-e
$2,200,000 a. held in treas. For further details see V. 111, p. 794.
On Aug. 20 1921 the company was auth.: (1) to Issue $2,200,000 gen.
mtge.7% bonds for pledge with the U. S.as collateral security for $1,885,000
In loans from the U. S.;(2) to issue and sell at par for cash $700,000 common
stock; and (3) to issue lease warrants or notes aggregating $132,169, In connection with the procurement of equipment. V. 113. p. 962.
Fare Increase.-Effective April 1 1921. fares In Cedar Falls, Iowa, were
raised from 7 cents to 8 cents. V. 112, 13. 1979.
Interest. Outstanding. Maturittp.
STOCK AND BON DS- Date.
$2 333.050
Common (6100) $3,335.000
See text
Prof stock $1.665.000 cum
664.000
6.773.000 Jan 1 1940
First mtge gold 56.000,0001 1910 5
Chic.. trustee.
OtflInt. at First Tr. & Sax.
($1.000)
______
Bk.
2.200.000
2nd Mtge (closed)
See text May 1 1950
Gen mtge $15.000:0- -00
See text
4 year scrip
Car trust notes
107.889
can be issued at 824% of coat of extensions.
Bonds.-Remaltong bonds.
Subject to call upon 60 days notice at 105 and int. Annual sink, fund of
2% of bonds out began with fiscal year ending Dec. 31 1912. Louie Bolaot
is also trustee. Car trust notes mature in small amounts over a period of
years. V. 90. p. 850. 915: V. 93. p. 528. 591.
Dividends.
-6% per annum was paid on pref. stock from 1918 to 1910
incl.; 1917 div. deferred (V. 106. p. 398). None since.

-A
WASHINGTON BALTIMORE & ANNAPOLIS ELECTRIC RR.
single-phase electric road
ORGANIZATION.-Incorp. In Maryland on June b 1905 as Baltimore
Terminal Co. On March 31 1911 amended Its charter, changed its name
to Wash. Bait. & Annapolis Electric RR. and took over the Watt!' Ball. &
Annapolis Elec. Railu ay. sold at foreclosure (V. 92, p. 796. 957), per plan
In V. 91, p. 1328, 1386. Private right-of-way.
The Annapolis Public Utilities Co. was incorp. In May 1912 as a sub. co.
and took over the Annapolis Gas & Elec. Co. which had outstanding
$100.000 stock and $280 000 bonds. V 96. p. 5S5. The Annapolis Public
Utilities 00. has $300.000 auth corn. stock, $172 700 tented.
-In 1921 the co. acquired the
Acquisition of Annapolis Short Line RR.
Annapolis Short Line from the Maryland Electric Rys. The co. took over
She outstanding 1st mtge. bonds of that co. and guaranteed certain other
For further details see V. 112. p. 850. 1284,
bonds and car trust certifs.
1619.
In Dec. 1921 brought out 61.600,000 1st M.5% bonds, proceeds being
used to retire 61.400,000 7% notes due Mar. 1 1923 which -were called for
o
fl4
l or
oe
V. lpinpivitV2i9
d
an
were
"
d 1
?s: mtae.
382.000 rda ftionV2
"
t pg
aymentp. 2014.
114,
On Oct. 15 1919 the stockholders auth. the issuance and sale of 20,885'
shares of 6% non-cum • pref. stock (par $50) at $37 50 per share Stockholders (both corn & pref.) were given the right to subscribe to the extent
of 23.43% of their holdings. V. 109. p. 1610. 1793.
STOOK AND BON Dts- Date.
Interest. Outstanding. Maturity.
Common $3,000.000 ($50)_
See text
$3.000.000
Q-J
Pre$2.500.000 ($50)6% non
1.760 500 Oct 22. 1ll
-c6Q-M
First mortgage $7,500.000i 1911
6 M-8
x7.308.000 Mar 1 1941
($1.000)
c*Str*tf Int. at Cleve. Trust Co., Cleve.. or Safe Dep.
Baltimore, Md•
Bait. & Ann. Short Line 1st
Mtge. ($1,000)
1906
1,000.000 Aug. 1 1946
6%
Annapolis Short Line RR.
sk. fd. bonds ($1.000)_ --.. 1921
7%
718.000 Jan. 1 1936
Annapolis Short Line RR.car
t 1921
trust bonds ($1,000)
See text
216.000
$46 000 bonds Seld in treasury.
a IncludLig
Stock and Bonds.-Pref stock is red. at 110. Bonds are subject to cal.
at 105 on any interest date. The Annapolis Short Line RR car trust
bonds are due 621.00(1 Jan. 1 1922 and 624.000 each Jan. 1 thereafter to 1931.
o-paid Oct. 1912. Lits,.. 4151.
Dividends.-Ou pref., Witte' &us.-1 y
making 6% for the year. Has paid 11.4 % quer. since to and incl. Oct. 1922
Initial div.-3%-paid on corn. Oct. 311917. In 1918, Jan.;3%; Apr.. 2%.
July, 2%; Sept.. 2%. In Jan 1919 7j% was paid in Liberty bonds
V. 107. p. 2377. In 1919, April, 2%; July, 2%; Oct.. 2%. In 1920
Jan., 134%; April, 1%; July. 1%: Oct.. 1%. In 1921. 4%. In 1922,
Jan. 1%; April 1%; July, 1%; Oct., 1%.
-For years ending Dec. 31:
EARNINGS.
Net (after
Other
Int..&e., Balance,
Gross
Calendar
Earnings. Taxes). Income. Charges. for Digs.
Years$2.512.540 $651.878 $138.622 $559.968 3230.531
1021
506,932
79.973
2.092.334
299,899
287.006
x1920
Revenue passengers carried in 1921, 4,816,009, against 3,992,991 in 1920.
1921 includes Annapolis Short Line.




141

ELECTRIC RAILWAYS

1921.
1920.
1919.
-Calendar YearsEARNINGS.
$857,457 51,071.367
$875.529
Gross
35,768
33.039
76.239
Net (after taxes)
-Owns and operates a line on private right-of-way from Waverly
ROAD.
to Cedar Rapids. 83 miles. with a branch from Waterloo to Cedar Falls
and Normal 9 miles. and a belt line of 7 miles around Waterloo. Also
owns and operates under satisfactory franchises. 23 miles of railway in the
cities of Waterloo and Cedar Falls; total track, 138.63 miles. Has joint
traffic agreements with the Chic. & North Western. C. NS: & St. P .Chic.
Gt. West.. Illinois Cent. and the O. R. I. & Pac. railroads for interchange of
freight, passenger, mall and express business. 60, 75 and 85-1b. T rails,
70 passenger. 3 baggage and express and 162 freight cars.9 electric engines,
and necessary work cars, snow plows. sweepers. &c.
-P., J. F. Cass; Sec., Treas. & Aud.„
OFFICERS.-Pres., L. S. Cass; V.
-V. 13. p. 2820; V. 114, p. 1768.
W. H. Burk; Gen. Mgr., C. D. Cass.

WATERVILLE, MAINE.
WATERVILLE FAIRFIELD & OAKLAND RY.
ORGANIZATION -1ncorp. In Maine In 1902 as the Waterville & Oak.
'and St. Ry., but in 1911 increased its stock from $100,000 to 000.000
($100) and changed name to present title. V. 93, p. 1602 The $400.000
additional stock was turned over to the Central Maine Pow. Co. to pay that
company for having retired outstanding bonds of the Waterville & Oakland
St. Ry. and for procuring the conveyance of the street railway property
formerly belonging to tee Waterville & Fairfield By. & L. Co. The Central Maine Power Co. assumes and agrees to pay all liens, claims and in.
cumbrances of every kind attaching to the property formerly owned by the
Waterville & Fairfield Ry. & Light Co., so that the Waterville Fairfield k
Oakland Ry. now owns both railroads, which connect at Waterville.
V. 93. D. 1790. Watery. Fairfield & Oakland Ry. has no bonds.
-For year ending Dec. 31 1921: gross. 6136,399; net, after
EARNINGS.
taxes, def.,$5,529. In 1920,gross.$136,892; net, after taxes, def..$25,612.
ROAD.-Ertends from Fairfield through Waterville to Oakland. 10.8
miles. Standard gauge. 58 to 90-1b. T and girder rail. 17 passenger
and 2 snow-plows.
-P., Walter S. Wyman; Sec.:
OFFICERS.-Pres.. Harvey D. Eaton: V.
E. A. Baliantyne; Treas.. Walter S. Wyman: Gen. Mgr.. Gerald 0. Wel b:
-V.93. p. 1602, 1790.
Aud.. John S. Everett.

WAIISA17, WISCONSIN.
WISCONSIN VALLEY ELECTRIC CO.
OROANIZATION.-Incorp. Aug. 28 1906 In Wisconsin, as the Wausau
Street RR. In Dec. 1915 name was changed as above and stock was increased from $400.000 to 800, 00. In Jan. 1921 stock was increased to
$1.200.000. At the same time purchased the Merrill R.& Power Co. and
the Lindauer Pulp & Paper Co.'s plant in Merrill. In Nov. 1916 purchased
the property of the Stevens Point Lighting Co.and Stevens Point Power Co.

142

ELECTRIC RAILWAYS

[VOL. 115.

Furnishes electric-light and power in Wausau, Stevens Point, Merrill and
-The United Power
(1) Wilkes-Barre & Wyoming Valley Traction.
erans. owns 49.992 out of the 50.000 shares of stock.
contiguous territory, and owns and operates an interurban street railway
of 93. miles of track between Wausau and Rothschild; also a gas plant at
-Is leased to the Wilkes-Barre By.Co. (see above). V.89. p.159b
Lease.
Stevens Point. Franchises extend to 1940.
ORGANIZATION.
-Incorporated Feb. 9 1891; controls street
Fare Increase.
-In Jan. 1919 was auth. by the Wisc. RR. Comm. to lines in the Wyoming Valley, Pa., extending from Wilkes-Barre to railway
Duryea
Increase fares from 5 to 7 cents. V. 108. p. 482.
and Nanticoke on east side of Susquehanna River and Pittston and PlyDiscontinuance of Service in Merrill.
-In Dec. 1919 the company notified mouth on west side. In Doc. 1902 made collateral trust mtge. for $250.000
the city of Merrill, Wis., that it would discontinue service in that city on to purchase stock of the Wilkes-Barre Dallas & Harvey's Lake Ky. Co. and
Dec. 31 1919, the date the company's franchise expired. The city authori- for other purposes. On July 1 1904 leased the Plymouth & Larksville Street
ties appealed to the Wis. RR. Comm., but on Nov. 17 1921 service was Ely. for 999 years at 6% on $75.000 stk. and int. on 575.000 5% bonds.
discontinued.
The $1.500.000 1st Mtge. 5% bonds due April 1 1921 were extended for
V. 112.p. 1400.
STOCK AND BONDS.- Date. Interest. Outstanding
Maturity. 10 years at 7%
STOCK AND BONDSCommon stock.$1,200.000 _ _ _ _ _ _
$1,200.00
Date.
Interest. Outstanding. Maturity.
Bock (par $100) 35,000,000-all but 8 shares owned by tin. P. & T Co.
Preferred stock, $1,200,000
1.144.890
First & Ref M. $15.000,0001 1917
993.500 May 1 1942 Let mtge $1,500.000 gold 1891
5 M-N
7 g A-0
$1.500,000 A ill 1 1931
($1,000)
($100.$500 & $1.000)c•___ I Int. at First Nat. Bk., Milw., or Wisconsie
cs Interest at 'rovident Life & Tr. Co.. Phila.
.17 t -,11 '1" ict.PP
,
I s's) Pr ,
Collateral trust and mortgage 1895
5 g J-J___
251,000 Jan. 1 1921
Bonds.
-Additional bonds may be issued for 80% of cost of improvements,
$325,000 gold
Int at Anthracite Say Bk.. Wilkesbarre, Tr.
when not earnings are twice interest charges, including bonds to be issued. Collateral trust and mtge g 1902
5 g J-D
250.000 Dec 15 1922
($1,000) $250,000
12 % of gross earnings is to apply to maintenance, any part not so used to
cs Int.at Real Est.,Title.Ins.&Tr.Co.,Phila.Tr.
be added to sinking fund, which amounts to 1% annually of bonds outUnderlying Bonds on Roads Purchasedstanding. Redeemable at 102 and interest on any interest date.
.
VirlIkesbarre & Suburban bonds ____
40.000 July 1 1928
5%
EARNINGS.
-For 12 months ending Dec. 31:
Guaranteed Bonds
Cal.Years- Gross.
Depre . Int..Tax.,&c. Divs. Bal.,Sur. Plymouth Br Co 1st gold Mf 1894
Net.
5 g A-0
85,000 Oct 1 1924
1921
$548,001 $424.589 5100.000 $152.532 $168.643
$3,414
$1S0.000 guar prin & Int__IInt.at Anthracite Say. Bk., Trustee, Wilkes90.000
1920
363.581
756,741
145.238
124,335
4.008
barre $10,000 subject t call in 1901 and $3,000 yearly thereafter.
PROPERTY.
Wilkes-Barre &
-Owns hydro-electric generating plants at Wausau. Merrill
5 F-A
90,000 Aug 1 1928
and Stevens Point. and auxiliary steam generating plants at Wausau
Wilkes-Barre & East Side Ry_
Kingston-------5
150.000 See (1)below
Bonds.
9.494 m. track; 16 pass. and 2 other cars, 1 snow plow.
-The Wilkes-Barre & Wyo. Vail. Trac. 1st M. bonds were
originally 5s and matured April 1 1921 but have been extended for 10 years
OFFICIERS.-Press C. C. Yawkey: V.
-P., B. F. Wilson; Sec. & Treas.
M. C. Ewing: Asst. Secs Harold L. Gelsse.-V. 104. p. 2013. 2553; V. 108, at 7%. Are call, as a whole on any int date at 1023.4 and int. prior te
April 1 1926 and at par thereafter. V. 112. p. 1400. Interest on the
P. 482; V. 109, p. 2441.
Wilkes-Barre & Kingston bonds reduced to 5% in Aug. 1903 and bond.
nxtended to Aug. 1 1918 and again to Aug. 1 1928 at 5%. Int. on tie
Wilkes-13arre & Suburban bonds reduced in 1903 to 4% and bonds extendea
WEBB CITY, MO.
to July 1 1918: were again extended, this time to July 1 1918, at 5%. The
SOUTHWEST MISSOURI RAILROAD CO.
Wilkes-harme & Wyoming Valley coll. trust bonds of 1902 are subject to call
ORGANIZATION.
-Organized under the general railroad laws of Mis
ter 10 years at 105 and accrued interest.
Bond, and on Sept. 1 1906 acquired the Southwest Missouri Electric By.
COMPANIES CONTROLLED IN SYSTEM.
-The following table
and the Webb City Northern Electric RR.
shows tee several companies operated, their mileage capital stock, and the
STOCK AND BONDS- Date. Interest. Outstanding. Maturity. amount of It owned by the Traction Company,
,
their debt, and finally the
Stock $5,000.000
$3.500,009 See"earns.
' rental payable under 999-year lease;6% here meaning 8% on the outstand.
General and refunding mort- 1906
5 g M-S
1.027.000 Sept 1 1931 ins capital stock; and $1 meaning a nominal rental, the company having
Rage $5,000.000 gold ($1,- Int. at Harrisburg (Pa.) Trust Co., Trustee.
only a nominal existence.
nob)
or National Bank of Commerce. N. Y.
tf
.----Stock--Webb City Northern mtge 1905
Sept 1923
200,000
5 g MsS
Miles. Issued. Owned.
Name of Company.
Debt. Rental
8200,000 gold
c tf Int. at Safe Dep. & Tr. Co., Pitts., Trustee. Coalvilie Passenger Railways__ 7.65 362.400 $36.300
None
6%
Soutnwest Missouri Electric 1903
5 g M-S
1,150,000 Sept 1 1923 Nanticoke Street Railway
11.99
6.000
6.000
None
SI
Ity refunding and extend Harrisburg Trust Co.. HarrLsb., Pa., Trustee Pittston & Avoca St. Ity
13.500
2.25
13.500
$71,000
$1
'Ion mtge $1.500.000___tf Int. payable at Nat. Bk. of Commerce.N.Y. Pittst. Moosic & P. V. St. Rys- 1.19
42,000
42.000
None
$I
Bonds.
-Of the $5,000,000 new bonds, $1.350,000 are reserved for prior Pittston Street Car
7.90 200.000 200,006
$1
liens and $2.623.000 for improvements and extensions.
Plymouth & Larksville By
75.000
3.76
75,000
6
Plymouth Street Railway.
12.000 12,000
6.28
None
EARNINGS.
-For years ending Aug. 31:
West Pittston &Wyo.St.Ry.Co. 3.44
30,000
30.000
None
SI
Aug. 31
Gross Net (after Interest Renewals
Balance.
3.28 150.000 150.000 *150,000
SI
Years- Earnings. Taxes). Charges. & Bett's. Dividends.
Surplus, 1Wilkes-Barre & East Side
Wilkes!). & Kingst.
99.700
8.50 100,000
90.000
6
1918-19____$953,876 $356.013 $128.330
$227,683 Wilkesb. & Piains. Pass. Ry
24.000 24.000 225.000
Ry
4.00
1
1917-18_-_- 741.727 245,981
125,388
120,593
93.600
40.000
6%
1916-17____ 747.820 333.861
114.536 69.462 (2%) 70.000 79.863 Wilkes!). & Suburban St. Ry_13.48 100.000
Wilkesb. Dallas & Harvey's L 14.68 200.000 193.750
150.000
(a)
ROAD.
-Operates 91 miles of track connecting Carthage, Carterville. Wilkes-Barre & West Side
17 84 100.000 92.4506%
Webb City. Proanerity Porto Rico. Duenweg-Oronogo, Neck City. Purcell. Plymouth Bridge Co
75.000
75,000
85,000
--.
Attie, Joplin. Villa Heights and Chltwood, all in Missouri, and Galena In
1 Entire stock and bonds deposited under collateral trait of 1b95.
Kansas. An extension to Baxter Springs, Han., 9 miles. was completed
• Entire amount owned by the W. & W. Valley Trac
Feb. 21 1918 and to Picher. Okla., on June 10 1918.
a Dividends in this case are dependent upon earnings.
-V.112. p. 1400
OFFICERS -Pros..
; V.
-P., E. Z. Wall(a) Wilkes-Barre Dallas & Harvey's Lake Ry.-The Wlikes-Barre Si
aver, Harrisburg, Pa.; Sec., Geo. W. Roily; Treas., W. E. McMechan.
Wyoming Valley Traction (to. owns all tee stock.
-V. 93. p. 752; V. 106, p. 716.
ORGANIZATION.
-A reorganization in 1891', per plan in V.66, p. 1190
of the Wilkesbarre & Northern RR., sold by Sheriff in Sept. 1898. Road
partly constructed, was completed and electric illy equipped by new cons
WEST CHESTER, PA.
piny from Luzerne, Pa., there connecting with W Ikee-Barre & Wyorn ng
THE WEST CHESTER STREET RAILWAY CO.
Valley Traction to Harvey's Lake. Pa- 14.68 miles
ORGANIZATION.
-Incorporated in Pennsylvania Aug. 4 1890. Owns
STOCK
Interes
Date.
• Jutstanding. Maturity
the Chester Valley Electric Light, Heat & Power Co. and the Coatesville Stock$2 AND BONDS4500 00.000 ($50)
)
-All stock owned by W.
-B. & W. Val. Trac
!Electric Light. Heat & Power (to. Franchises perpetual.
let mortgage $150,000 gold( 1898
5 g M-S
$150,000 Sept 15 1928
Fares.
-In April 1919 was auth. by the P. S. Comm. to increase fares
cs I Int. at Anthracite Say. Bk., Wilkesb.. True
between Coatesville and adjacent points from 5 cents to 6 cents. In -V. 69. p.
133.
Nov. 1920 the P. S. Comm. auth. the co. to increase cash fares from 6 to 7
cents per zone. V. 111, p. 1853.
STOOK AND BONDS- Date. Interest. Outstanding. Maturity
WILMINGTON, N. C.
Stock $1,000,000 ($50)_
$1.000,000
mit WATER Powra CO
First mtg $1,000.000 ($1.000)f 1902
5 g F-A
1.000.000 Aug 1 1932
Control.
-In April 1922 A. E. Fitkiu & Co., N. Y., acquired control
gold
cstfI Int. at West End Trust Co., Phila.. Trustee.
of the company. V. 114, p. 1892.
Bonds.
-No sinking fund and bonds not subject to call.
.
ORGAN iZaTION.-utiarierso Mehl. 1907 In North 4....brillille and has
Gross.
EARNINGS.Int &Tax. DPoree.
Net.
Bolaoce. ' acquired through construction and purchase all the property used in furCalendar year 1921___$232,942
$67,242 $57,636 $13,025 def.$3,419 nishing electric light and power, gas and street railway service in WIS
Calendar year 1920___ 252,410
72,247
65,752
11,886
def.5,391 niington, N C • and vicinity. In April 1917 acquired all the property of
-In operation from Kennett Square, through West Chester, to the Consolidated Ryes Light & Power Co. formerly controlled by atocb
ROAD.
Do snington and Gallagherville, 18 m.; gauge, 5 ft. 2SS in.; rails. 70-lb. T; ownership and leased. Population of territory served, 45.000. Has a
-year contract from 1916 with the city for street lighting. Franchises, In
20 cars. Extension Lenape to Kenneth Square was completed Oct. 1 1904. 10
An extension from Gallagherville to Coatesville completed Nov. 5 1906. Opinion of counsel, are without time limit and the railway franchise is
exclusive until 1937.
Total track tO m
Fore Increase.-In July 1915 was auth. by the N. 0. Corp. Comm. to
OFFICERS.-Pres., Frank P. Jones sr.: V.
-P., A. M. Holding; Sec.,
Tickets
Jonas Rico; Treas., M. G. Woodside, all of Philadelphla.-V. 111, p. 1853. Increase fares In Wilmington and suburbs from 5 cents Sc ", (•ents
were sold at the rate of 4 for 2,5 cents and 17 for $1. In Feb. 1922 a 7
-con)
, fare with no tickets was placed in effect.
WICHITA, KANSAS.
tc i acres-Ie.-On Nov. ('2 1(415 ttit, stockholders voted to increase the
capital stock of the co. from $1,200.000 to $2.600.000. $2.000.000 to be
ARKANSAS VALLEY INTERURBAN RAILWAY.
. pref. stock and $600.000 to be common stock. Prof. stock, in addition to
OROANIZATION.-incorp. In Kansas in 1903 and owns and operates i the $1 200 000 outstanding may be Issued under certain conditions as set
an interurban electric railroad from Wichita to Newton and !Lute ingot', forth in V. 109, p. 2440. Proceeds from the sale of the pref. stock were
Kan. Has long-term franchises in corp. limits, most important extending used to liquidate current liabilities, to retire $350.000 bonds due Aug. 1
beyond 2000: rest on ortvate right-of-way.
1920 and for additions and betterments. V 110. p. 0-1.
STOCK AN!) BONDS-Interest. Outstanding. Maturiik
erront< ANL) BONDS- Date. Interest Outstanding Maturity.
Date.
A-0
Common stock $2,100,000
$600 ^(10 Ost 's2 3 is %
$1,500,000
Common 3600.000
___ _ __-Prof 52 000.000 - 7 CIIM (Re*. text) ._ See text
Pref 6% cum $1.500,000
542 300
, 0
905 000
14.-c text
6 g .14
First mtge 33,000.000 gold) 1916
38; COO
5 g J-D
826.000 Dec 1 193f Consol Rye, LA I Co let NI g I 1902
July 1 1932
($1.00 .$500, $100) cscptlInt. payable in N. Y.or Chicago.
(closed) ($50. $100. $.5(10.) Interest 'it Safe Deposit & Trust (Jo.,
c
Baltimore. Md.. Trnstee
Stock.-Prof. stock is redeemable $10,000 per ann.; $57.700 has been .S1.000)
red
5 g .I-J
First mortgage $2.000.000 t 1909
792.003 Jan 1 1949
BONDS.
-$100.000 may be issued for up to 50% of cash cost of Imptes
c•( Int at l'enn Co for Iii. oii L.. &c.. Phila.,
41.000) gold
add ns or exts.. remaining $2.000.000 for 75% of such cost under restrictions. Callable at 103 and int. Sinking fund of 2% annually of bonds s-r
sr in
ti
Stock.-In 1912. by consent of iri=n stocknoiders. pre stock was mad(
titled began Dec. 1 1919 to purchase or call bonds at 103 & int. $74.000
• 6% stock after the common received 7% In any sear
The extra 1%
bonds were held in sink. fund April 1 1922. Cont. & Comml Trust, is sia
was not cumulative. In Dec 1919. however, the pref. stock was put on a
Bank. Chicago trustee
EARNINGS -Fur calendar year 1921, gross, $512 212: net, after taxes, 7% basis and made cumulative V 100, p 2440
Additional first mortgage bonds may be issued at 85% of cost of new
$117.575. In 1920. gross, $547.375: net, after taxes, 5189,186.
property and extensions. but only when net earnings equal 50% more than
ROAD.
-Owns and operates tA) miles single-track equiv.; standard
I nterest on all bonds out arid including amount to be Issued
The first
-lb. rail. Also operates under contract 23.4 miles In
gauge, 70. 80 and 85
m.irtgage bonds are subject to van in
weeks notice:it
Wichita and Hutchinson. Power is purchased from the Kansas Gas & 105 Sinking fund of 1% began lollentirety only at fourretired 'Ulf 000
SSO 000 have been
Electric Co
In addition to amount outstanding hi-id in treasury. V 59. p 471
The
oFFICERS.-Pres. George Theis, Jr., Wichita: V.
-P., 0. H. Smyth
Consol. Ryes Light & Power Co bonds have a sinking fund of 1°1 of
0
Gen. Mgr., R. B. Campbell; Aud. & Asst. Sec., C. Basso.
-V. 115, p. 182. bonds outstanding from July 1 1901 to 1914; 1 4% to 1924 arid 2% thereafter. Fund to be inves14 d in bonds at not exceeding 105 ..rid int.., but
,
." ,,,.
,,,., h... p.
4
,..1, 0,, bunds h;
bonds are not .inhi .A 'all
1
WILKES-BARRE, PA.
Dividends.
-In 1908 and 1909. 6%; thereafter to Jan. 1 1913 5% per
WILKES-BARRE RAILWAYS CO.
annu m was paid on pref. (q% monthly, omitting Jan. and July). On
Jan. 1 1913 began paying 6% per ann. (3.e)% each month), which was conRGA N 1ZA TiON.-Incorp Nov 26 1909. Auth.stock,$1.500,0001*
Leases Wlikes-Barre & Wyom. Val. Tr. Co. for 800 yrs
tinued to and incl. Dec. 1921. Since divs, have been paid at the rate of
sued. 5900,000
from Jan. 1 1910 at rental of $360.000 the let yr.. Increasing $10.000 every 7% per ann. Now cumulative at that rate. On cons, first div., 2%. paid
two years until the maximum of $400,000 Is reached, and all obligation. April 1910; Oct., 2%; in 1911, 6%: in 1912, April. 3%; Oct.. 3% and 1%
-B. & W. V Trac. Operates about extra, and divs. at the rate of 7% per ann. 334% semi-ann. were paid
in the way of Int. taxes. &c., of W.
regularly to and incl. April 1918. In Oct. 1918, 2t.4% (additional 1%
113 miles of track.
-cent cash fare due was paid May 1 1919). In April 1919 33S % was paid. Same rate
Fare Derision.-For decision of P. S. Comm. upholding 8
has been paid regularly since to and incl. Oct. 1922.
see V. Ill, p. 1662.
EARN IN(;S.-For cal. year 1921. gross 32.566 863 net. after oper
1921.
FARNINIS-S'alealsr Yell's1121.
1919.
'
In 1920. gross $2 3)8.105 net. after
Gross e train ..,'3
exp rentals taxes, &c.. 591 765
•
$1,07),116 $1.133.982
$114.362
-53 120
apss
Not, af,sr ossratins 0(00.15109 & tase,s $311,221
$1 1 5:1 7 5
1 51 1 38
1271
12 1
G. Nesbitt; Sec. & Treas.; Bond intsrest (prior lions)
-P., A.
OFFICERS.-Pres., F. M. Kirby; V.
1_411.132
',VII
-V. 92, p. 957; V. 103, p. 2343,
C. W. Laycock: Gen. Mgr., Wm. S. Bell.
V.107. p. 1102; V. 111, p.1662; V. 112, p. 1400.
Balance
$203,037
$165,257
3145,680




1Sok

143

ELECTRIC RAILWAYS

OCT., 1922.]

5% scrip dated Jan. 30 and maturing Jan. 30 1918. but called for payment
i
on Jan. 301916. The July div. of 244% was paid In cash In i 910., 4%
In 1918 to 1921, incl., 5%. In 1922, Jan.. 131 %;Apr.. 151%; July, 131%;
Oct., 14%.
An initial guar. div. of 1% was paid on the corn. stock July 15 1922.
V. 114, p. 2826. In Oct. 1922, 1% was paid.
-Combined earnings for years ending Nov. 30:
EARNINGS.
Fixed
Balance.
Net, after
Gross
Noe. 30
Surplus.
YearEarnings. Taxes clE Denreen. Charges.
$229,290
$207,002
$436.292
$1,720,417
1920-21
230,055
466.658
236,603
1.679.123
..
1919-20
231.598
186.666
418.263
1.369,215
1918-19
Note.
-Taxes,deprec. and int. on bonds have been adjusted in accordance
agreement with York Haven Water &
with the results arising from an
Power Co.. whereby it assumes certain fixed charges of the co.'s steam
power plant.
ROAD.-Owns and operates about 85.15 miles of track centering in York.
YORK, PA.
•
'Grinding an Interurban line between Hanover and York. 17.33 miles.
-P., L. 0.
YORK DAILWAVS.-A troliev road
OPPICERS.-Pres. & Gen Mgr.. Gordon Campbell; V.
Controlled by Municipal Service Co., which see under"Philadelphia, Pa." Waver V -P J F. W•tvne aee , M G Wefts; Treas., E. A. Barnity
-V. 108. P. 785; V. 110, p. 360; V. 112, P. 1145;
on a preceding page.
Aud. J. J. Landers.
'
0KtiANIZATIoN.-Incorporated in Pennsylvania Nov. 15 1907 as a V. 114, p. 855, 2117, 2471, 2826; V. 115, p. 546, 1534.
consolidation of properties operating in York and vicinity. V.85. p. 1403.
Franchise perpetual.
The following companies have been consolidated or merged:
YOUNGSTOWN, OHIO
York Haven Street By. Co.
York Street Railway Co..
Wrightsville & York Street By. Co. Red Lion & Windsor Street By.Co,
-OHIO ELECTRIC CO.-Subsidiary of Republic
PENNSYLVANIA
Hanover & York Street By. Co.
Dover Electric Ry. Co..
York &
Railway & Light Co., which see under "New York'
York & Dallastown Ry. Co.
& Power Co. (except 5.4 of I
YOUNGSTOWN & SUBURBAN RY CO
Owns entire capital stock of Edison Light
share). incorporated In April 1913 to take over the lighting and power subIn July 1917 control was acquired by Municipal Service Co.. a Maine
sidiaries of the York Railways and other properties, including the Edison holding corporation. (V. 104. p. 1387. 1592. 1900. 2013.)
York, Man
Electric Light Co., the lighting companies of West York, North
ORGANIZATION.-Incorp. in Ohio. Jan. 1916 and acquired the prop.
chester, Mount Wolf. Dover. Hallam and others. In July 19111 the Mersold at foreclosure Sept. 2 1916.
chants' Electric Light. Heat & Power Co. of York was purchased and with erty of the Youngstown & Southern Ry..
(V. 103. p. 940. 1033).
five suburban lighting companies consolidated with the Edison Light &
Interest. Outstanding. Maftsrffg.
STOOK AND BONDS- Date.
Power Co. Oaring 1916 a municipal lighting system was installed in York
$350.000
under a ten-year contract. Also owns entire stock of York Suburban Lane Common $750.000
470.000
6%
Preferred (cum)
Co. and York Steam Heating Co.(V. 85. p. 1463).
705.000 Sept 1 1936
5 M-S
cif 16fg
$750,000-"
-In Nov. 1918 filed with the Penna. P. S. Comm. new schedules. 1st M $1.500,000
Rates.
$30.000 pref. stock in treasury in addition to amount reported outstandl.
Increasing trolley fares from 6 to 7 cents within the city zone and increasing
rates for power. V. 107. P. 1838.
extensions and additions under certain
--$800.000 are reserved for
Bonds.
STOOK AND BONDS- Date. Interest. Outstanding. Maturity
safeguards. Red. at 1024 and int. at any time. Sink, fund to retire
See text
62.500,000
Common $2.500.000($50)Guaranty
$5.000 at 10254 and int. annually, began Sept. 1 1919.
1.600,000 Oct'22 151% Trust Co.. N. Y.. trustee.
Q-J
Pref 12.000,0005% cum ($50)
4.938.000 Dec 1 1937
1st mtge & coil tr $10.000.0001 1907 5 J-D
end. June 30:
EARNINOS.-For 12 mos.
c•tf i Guar. Trust & Safe Den Co..Phila.. trustee.
gold (S1 .000
Balance.
Gross. Netaft.Taz. FizedChges. Depreen.
12 Mos.mock and Bonds.-Pref. stock is cumulative 3 years from date of issue. 1920-21
$24.611
$34,658
$77.457
118.188
$399.699
The stock of the controlled Edison Light & Power Co. and York Suburban 1919-20
23.107
35,110
26.925
85.142
311.249
additional security for the bonds. $649.000
Land Go. are deposited as
ROAD.
-Operates interurban road between Youngstown and Leetorna.
bonds in treasury. Remaining bonds can only be issued under certain re- about 20m. 12 passenger, 11 freight and express. 1 work car and
No sinking fund. See particulars of bonds. property, acc., in 1 snow plow, and 1 electric locomotive.
strictions.
V. 87. p. 40. Stocks and bonds are listed on the Phila. Stock Exchange.
-P., Jos. W. Swain Jr.: Sec., John E.
OFFICE RS.-Pres., Fred Todd; V.
V. 89. o 412; V 94. p. 984
ITarvev: Oper Mgrs., nay & Zimmermann.
-Initial div. on pref.- 1%-paid July 1911. In 1912.4% Zimmermann; Treas., L. Ti 1900.
Dividends.
2013: V 113..p.1889.
-V. 104. p. 1387. 1592.
was paid in Inc.
In 1913 and 1914,5%. In 1915 the regular Jan. div. of 244%

-The power station has a total capacity of 8.300 k.w.
PROPERTY.
-ft. daily capacity, brick buildings and
The gas plant has a 1.000.000 cu.
two-lift holders of 270.000 Cu. ft. capacity;4944 miles gas mains. Water
gas set with installed capacity of 810.000 cu. ft. daily. Of the 33.43
miles of track in the railway system 68% are double tracked. 54 passenger
shop were
and 7 freight and miscellaneous cars. A new car house and 1.5 miles of
built in 1916. Owns and leases to the Atlantic Coast Line RR pavilion and
the water front. Also owns a large amusement
track along
several cottages at Wrightsville Beach; controls through stock ownership
hotel at the beach. and owns a large auditorium seating 2.000. together
with three large tracts of improved real estate along the railway.
-P., W. C. Harty; V. P.. F. A.
OFFIGERS.-Pres., A. E. Fitkin; V.
Matthe : Sec. & Treas.. T. B. Willard: Gen. Mgr.. R. iltin'.-V. 107,
pi, 83. 1194. 1291; V. 109. P. 2440; V. 110. P. 971; V. 114, P. 1892, 2117;
V. 115. P. 1211.

ELECTRIC RAILWAYS IN ISLAND POSSESSIONS
AND

FOREIGN COUNTRIES
HALIFAX, N. S.
NOVA SCOTIA TRAMWAYS & POWER CO., LTD.
o tsuANIZATION .-incorp. In Nova Scotia in 1914 and In Jan. 1917
acqaired (a) the properties and franchises of the Halifax Electric Tramway
0 Ltd.,comprising all street railways,commercial electric light and power
and gas properties in Halifax: and (b) water power rights, lands, &c., on
the Gaapereaux River, 55 miles from Halifax, capable of a hydro-electric
development of approximately 12.000 h. p.
franchises. in opinion of counsel, are perpetual
The stock was offered in Jan. 1917 in blocks of 10 shares of pref. and 3
shares corn, stock for $1,000. V. 104. p. 164.
in acting upon the co.'s application for auth. to increase Its capital stock
by $4.000,000 and to issue $975.000 In bonds,the P. U.Comm.in Dec. 1917
auth. Items Involving a capital expenditure of 1845.641. and held over
for further consideration items aggregating 6569.686.
In Nov. 1919 the co. applied to the Bd.of P. U.for auth. to issue $440.000
in new securities, part of the proceeds to be used to purchase the property
of the Dartmouth Gas, Electric Light & Power Co., Ltd. For further
details see V. 109. P. 19147.
-year bonds,
In April 1922 issued $1,250.000 Series"A" 7% gen. mtge. 30
-year 7% notes due June 1
proceeds being used to retire the $1,000,000 3
1922. V. 114, p. 1891. Compare V. 114, p. 1408, 1766.
Fare Increase -In May 1920 the co. was auth. to increase fares to 7 cents.
Interest. Outstanding. Maturits.
STOOK AND BONDS- Date.
$2.510.000
Corn stock $3,500.000(WO2.078.800 July'19. 3%
3-32
---Pt6% cum 12.500.000 (1100)2.250.000 Dec 1 194e
5 g J-D
$10.000,000 gold $ or £ 1916
'11.f11W Ind '', If1)___e*_rf(Int. In New York, Montreal and Lono,,,,
,
1,250,000 Apr 1 1952
7 g A-0
Gen mtge Ser "A"(6500 andj 1922
c*lEastern Trust Co., trustee.
$1,000) gold
Preferred atock.-Divii. payaole without deduction for any taxes imposer
by any taxing authority In (Jimmie.
Bands.-Remalaing bonds may be issued up to 75% of cost of acquisltiont
or impets (except that no bonds may be issued against the cost of the nee
gas plant) and only when net earnings are double the 1st M. Interes,
Annual sinking or impt. fund of
cuarges, including bonds to be issued
117 of bonds out began Dec. 1917. for add'as or impts., or for redemption
of hoods. Callable, all or part, for sinking fund, at 105 and int. on any
int date on 60 days' notice. Int. payable without deduction for Canadian
taxes or IT q Pederal taxes. Fixed exchange rate, $4 86 2-3 pot E sterling
Trustees. Union Trims, oo. or NT V aild Itoy..1 Crust. 0o Nioorroal
The gen. mtge. 7% bonds, Series"A."are callable as a whole only (except
for sinking fund) on any interest date on 60 days' notice up to and including
April 1 1932 at 110 and int.; thereafter to and incl. April 1 1942 at 105 and
int. thereafter to and including April 1 1947 at 10254 and int.; thereafter
at 100 and int. $3,250,000 are reserved for prior liens. Annual sinking
fund of 1% commences in 1924 and is sufficient to retire over $1,000,000 of
coin at
this issue before maturity. Interest is payable in Canadian goldrHalifax, St. John, Montreal, Toronto. Winnipeg or Vancouver; or at New
V. 114, p. 1891.
York in U. S. gold
coin*
A .1Ivelt.d of 3% was p .id on pref. stock in July 1917 tn.
thus/toad,
. Dec 1917 dividend being infect. dr 1n1918,6%. In 1919.6%. In 1920
Jan d1v omitted. V. 110. p. 16i.
-Of Halifax Electric Tramway Co.. Ltd.(and consolidated
EARNINGS.
companies beginning with 1917) for calendar years:
1921.
1919.
1920.
1918.
1917.
1916.
Gross earns_6759,726 $859,668 $998,702 $1,258,502 $1,161,039 $1,446,640
y87,630 z181,638
Net, aft. tax. 311,882 131,506 135,974 x211,510
x Balance after $144.619 interest and amortization charges, and $62,364
preferred dividends of $4,527.
y B 'lance after $202.526 Interest and amortization charges,def..$114,897.
z Balance after $204,781 interest and amortization charges, def., $23,143,
PRoPERTIES.-23.32 miles of street railway single crack equivalent.
Standard gauge:60-lb. T and 80-1b. girder rails. 38 passenger cars, 24 Air
nay safety ears. 5 sweepers 5 misc. cars, &c.; power house with 6,200 k. w.
capacity (6,000 k. w. additional contracted from Provincial Hydro Development) lighting and power distribution system; gas plant, with about 39.13
miles of pipe line.,




-P., W. H. Covert, KAI; Sec.,
OFFICERS.-Pres., A. Stuart Pratt; V.
J. D. Vickery; Treas., J. R. Blackett. Under management of Stone &
-V. 109, p. 270; V. 110.
Webster, Boston, Mass. Mgr., W. L. Weston.
p. 167, 2388; V. 114, p. 1408, 1766, 1891.

HAMILTON, ONTARIO.
DOMINION POWER & TRANSMISSION CO.
ORGANIZATION.-Inrorp. in Canada on Jan. 11 1907. Gontrols
and operates the following properties:
iamtiton Cataract P., Lt.& Tr.Co. Ham. Elec. Lt. & Power Co.
Dundas Electric Co.,
lamilton Radial Elec. By.,
Lincoln Elec. Lt. & Power Co.,
tcanteord & Hamilton Elec. By.,
Western Counties Electric Co..
Hamilton Street Ry.,
Welland Electrical Co.,
iamilton & Dundas St. Ry.,
Hamilton Terminal On.
gam Grimsby & HeamsvilIe Ry..
-In March 1922 the Hamilton St. By. was auth. to charge a
Fares.
-cent fare. V. 114, p. 1407.
straight 10
Interest. Outstanding. Maturity.
STOCK AND BONDS- Date.
$7.714.500 Sept'20. 1%
irdinary 19.900,000(1100)
J-J
3.681.100 July'22 344
"reference 610.000.000 ($100)
See text
5.461.000 •
5 g A-0
It mortgage 125.000.000 1907
elf Harris Tr. & Says. Bk. of Ohicago. Trustee,
($1.000) gold
Nat. Trust Co.. Ltd.. Toronto. Can., trust
1.805.1)1)(1 April 1 1943
tam Gat P L & Tr Co. Ltd, 1903 5 A-0
ist & ref M $5.000.000 gold Int. in Hamilton & N Y. Nat Trust Co.,
Ltd.. Toronto, trustee. Callable at 110 &
c*ntf
(MOM
Int. beginning April 1 1423.
742 000 Oct 1 1929
tarn Elec Lt & Gat Pow 1st 1899
5 st A-0
mortgage gold ($1.000) not Int. payable in N. Y. or Hamilton National
Trust Co.. Toronto. Trustee
c*tf
callable
340.000 Dec 22 1928
454 .I-D
Hamilton Street Ry 1st mtge_ 1898
5 M-N
150.000
1925
Ham Grime & B El By 1st M__ 1895
Bonds.
-Of the $25,000.000 mortgage, $10,000.000 may be issued, with
.he approval of the trustee, for not exceeding SO% of cash cost of extensions
snd additions, and the remainder for not exceeding 75%. Since April 1
1917 the entire outstanding issue, but not any part thereof, can he called
% The bonds
it 10744 and interest on any coupon date on 60 days noti,
nature $60,000 annually from April 1 1911 to 1921 and $120.000 annually
t ii32.
•om April 1 1922 to 1931, and the rem tinder are due Apr
,
They are secured by all the property owned through deposit of stock
and bonds with trustee. &c.
inotdends.-On the preference stock 6% was paid in 1907; in 1908, 3%
was paid. In Dec. 1908 it was decided to omit env. on both (111,41V4.4 of pref.
st mic; see V. 87. p. 1478. None to Jan. 1911. when 34% wuspaidJuily,
314 %:also paid In Dec. 1911 div. due Jan. 1909,3%. •lu 1912 Jan.. 34%;
July, 344%; Aug.. 3% (due June 1909). In 1913, Jan., 354%. A div.
in 1914
of 44% was paid Feb. 15 1913 in full of arrears: July, :45.4%
an I since. 7% per ann. Initial div on com.-2% --paid .luee 1416: D
2%. In Sept. 1917 paid quarterly dly. of 1% and same rate has been paid
tuarterly since.
EARNINGS.-Incl.subsidiary cos. •
Dies.
Bliancr,
Main!. 4. Bond
Gross
Net
Ca'endar
)
sir? 0,
Paid
Beals. In' .*e.
Earnings Earnings
Year$505,302 $257,677 1149.680
$3,758,947 1912.659
1921
465.059 62,129
3,803,723 1,031,847
1920
501,659
Flo/AD.-Controls 33 miles of single track in Hamilton aim s'.uniu s of
intererb an lines, and also supplies light and power to Hamilton. Brantf rd.
Likewise ow, a
St. latharines. Weiland and Intervening torritory
50,400 h. p. hydro-electric station. Also has in operation a steam gene sting station with a present capacity of 26,600 h. p. and an ultimate caps ity
of 80.000 h. p.
-P., Cyrus A. Birge; Sec. & Man'g
OFFICERS.-Pres., J. R. Moodie; V.
,
D• .. Wm, C. Hawkins: Gen Mgr • Edward P. Coleman; Treas., James
Dixon; Aud., 0. S. Scott; Asst. Sec.. Geo. D. Fearman.-V. 105. p. 909;
V. 106, p. 929. 2338; V. 108, p. 784; V. 110. p. 764; V. 111. p. 2141.

144

ELECTRIC RAILWAYS
HAVANA. CUBA.

HAVANA ELECTRIC RAILWAY. LIGHT & POWER CO.
OBGANIZATION.-Incorp. in New Jersey on Mar. 26 1912. absorbing
the Compania de Gas y Eleetricidad de Is Habana (Gas & Electric Co. ot
Havana). to acquire and hold the stocks of the Havana Elec. Ry per plan
In V. 94, p. 767. On May 15 1913 a plan for the merger of the propertiee
was approved by the stoceeeetietoe Havana Elec Ry L. & P Co.
The Havana Electric Ry stockholders approved the plan on May 27 191e
and on June lb 1913 articles, of coneolidation were flied. V 96. p 1840
To date 49.989 lout of 50.000) shares pref and 74.885 (out of 75,000
shares common stock of the Havana Elec Ry. have been deposited for exchange of securities of new company. The Havana Elec. Ry owned entire
$100,000 stock of the Insular Ry Co. Railway franchise runs until 1958
Company also has right to carry freight ever parts o(the system
Gas and
electric franchises perpetual
Stock Increast.-Stocknolders voted on May 21 1917 to Increase the pref
irtock from $15,000.000 to $21.000,00() to provide for the retirement on
June 15 1917, at par and int., of the $6.000,000 6% general consolidated
obligations of the former Compaula de Gas y Electrundad de is Minims
which wars assumed by the Haver,. Elec Ely.. Lt & P. Cu . and constituted
lien upon it, property prior to the lien of Its general M bond, Corn, and
pref. stockholders of record May 28 1917 were offered the right to subscribe
r•
for ne, Orel, two rata at oar awl tiv
V 104 p 211'(
In July 1922 issued $3,600.000 e'en. mtge. 5% bonds to provide for the
retirement of $1,500,000 5
-year 7% serial cony. notes due ••ept. 1 1926
(called for payment Sept. I 1922 at 102ei and int.) and for additions and
betterments. V. 115, p. 543.
STOcie AND BoN DSAire/situ
Interest. Outstanding
Date.
Common 315.0(.0.000(3100)_ M-N
315.000.000 Nov.'22 3e
Pt 87, cum 821.000.000 4100)
21.000.000 Nov.'22.3%
M-N
Hay Elee Ry cense! M $10.- 1902
5 g F-A
8 0119.570 Vet; i 1952
000,000 g ($1,000) s f_ceSer Central Trust Co.. Nee 1 or, Trustee.
Hay El Ely L & P gen mtge 1914
5 g M -S
9.499.000 Sept 1 1954
325,000,000(31.000 & $5,-( Guaranty Trust Co., N. Y., Trustee.
000) gold
c*&r
Gas et, Electric Co. issues
()old mortgage
1904
6%
3.997 904 June 1 1954
"English bonds- (E150.000)
1906
5%
552.150
Stock.-Prof. stock is red. at $115 per share and accrued dive. 11o4b
19t3
1,0m. and pref. are listed on N Y. Stock Exch. V 94. p. 1632 852 654
common and $21.523 pref. stock included In amounts reported outstanding are In treasury
Bonds.
-Of the Havana Electric Co. consolidated bonds reported out
standing, $687 511 are in treasury 11.127.889 have been canceled
A
sinking fund commenced Jan. I 1906 on the outstanding consols
Bonds
may be called for sinking fund at 105 and intereet, and entire Issue can be
redeemed at 105 and hat on any Int. day upon 6 mos.' notice. See V 74
p. 12,51. Int, payable at company's office. They are listed on N. Y.Stock
Exchange. V. 88. p 9111
The gen. mtge. bonds are red. on 30 days' notice at 105 Sink fund ef
13% on outstanding bonds began in 1920. Interest payable in New York
without deduction of any tax except Federal income tax. Of the $25,000,000 auth., $8,100,000 are reserved to retire underlying liens. $312,000 held
ley trustee under sinking fund, $2,350,000 are in treasury and the remainder
for additions and improvements, under certain restrictions. listed on N. Y.
Stock Exchange. V. 102, p. 2254; V. 106, p. 715; V. 115, p. 543, 1532.
itto1utact3

DIVidend ,a1 prel
,

ram% were begun lit Nut

1141Z

An

Initial dividend on the common stock, 2'4%. was paid in Nov. 1912. In
1913. 54%; in 1914. 5%; In 1915. 5%4%; in 1916. 6%• in 1917, 6%; in
19111.6%' in 1919. 6%: In 1920. 6%;in 1921. 6%. In 1922, 6%•
REPORT.
-For calendar years (1921 report in V. 114, p. 2011, 2140):
Cal.
Lintss
Net .o.tier Oilier
Fated
I"I Div. CUM 1)103. 0114.1t41.0e
Year- Earnings. Taxes). Income. Charges. (ST .
(6T )
Surplus
t
4)
)

1922*._ 7,537,007 3,814,329 85,777 621.886x629,321 x448,324 2,200,575
1,921_12,882.653 5,506,309 122,767 1009011 1,258,709 896.871 2,464,485
19e0_ _11,e'r 7.137 5,0. 9.485 e7384 9.8,759 1.25.709 891.991 1.952.901
1919_ _ 9.307.452 4.4 I 7.77 F4 538 970.711 1,258.709 896.904 1,346,982
*Seven months to July 31 1922. x3%.
116,271,911 passengers carried in 1921, against 97,019,389 in 1920.
ROAD,&C.
-Railway system, 95.91 m;les of single track. Also operates
a stage line. Ras 587 cars. 185.12 miles gas mains. The consolidated
power plant (capacity 37,500 k. w.) was completed in June 1916.
OFFICERS.-Pres. & Gen. Mgr., Frank Steinhart; V.
-Ps., R. R. LoonEng. Antonio San Miguel and Dionisio Velasco; Sec. & Treas., H. Kraemer.
N. Y. office, 55 Liberty St. V. 110, p. 2186, 2204, 2487; V. 111, p. 1083;
V. 112, p. 2083, 2183. 2202; V. 113, p. 060, 1052; V. 114, p. 409, 2011.
2112, 2140; V. 115, p. 543, 1532.

HONOLULU, HAWAII.
HONOLULU RAPID TRANSIT & LAND CO.
-Trolley.
ORGANIZATION.
-Incorporated in Ilawaii Aug. 30 1898. Operating.
under a franchise providing for an indeterminate term. Elastic fares, regulated by Public Utilities-Commission.
In 1903 purchased WM tiewaiten Tramways Co. (having einstandiee
165,000 stock and 130.000 6% debentures, and comprising l2 t'( mile, or
track); payment being made by the Issue of $150.000 6% bonds of the
Rapid Transit Co.: 910 shares of preferred stock and $59.150 In each
In Aug. 1916 capital stock was increased from $1.207.500 ti $1,600,000.
In 1917 the capital stock was again increased to $2.001.000. the proceeds
from the sale of $400.000 worth ofstock belag applied on May 1 1917 to the
retirement of the entire issue or $5211.000 1st 011 CC 617, humid,
-Authorized and outstanding (par $100), $2.000,000. In June
STOCK.
1922 an increase from $2,000,000 to $3,000,000 was authorized: of this increase 3500.000 is to be used for betterments, extensions, &c., the balance
to be held in the treasury. V. 114. p. 2717. Dividends payable Q.
-M. 31.
All preferred stock was converted into common in 1913.
Dirtnertas.-Ou common Dec. 31 1903. 1%. in 1904 4%. In 1905, 4%;In
1906, 3462; in 1907. 3%; in 1908. 4%; In 1909. 4%;In 1910. 4%;in 1911
7
and 1912. 6%;in 1913. and since. 8% per annum.
REPORT.- For years ending Dec. 31:
Int.. Taxes, Dividends Balance
Gross
Net
Calendar
(8%).
Earnings. Earnings. Deprcn..&c.
Surplus
Year.
$325.003 $266.579
3160.000 def.3101.578
8960.992
1921
160.000
260.918
281.314
881.342
def.139.602
1920
247.302
160 000
325.252
def. 82 051
780.946
1919
232.153
160.000
def. 79.586
312.567
735.151
1918
Passengers carried in 1921. 23.417.902. against 20.985.556 in 1920.
-Operates 31 miles of track. Gauge, 4 ft.; 70, 85, 108, 122-lb
ROAD.
rails. 62 vestibuled motor cars and 19 freight and service cars. Capacity
of generators, 1.900 k. w.
-P., L. A. Thurston: 2d V.
OFFICERS.
-P.,
-Press., A. L. Castle; 1st V.
W. F. Dillingham; Sec.. B. L. Marx; Treas., C. H. Atherton; Mgr., H. S.
Johnson -V. 102. p 1350; V. 103. p. 759, 938; V. 104, p. 1387; V. 108,
p. 1577; V. 114. p. 2717.

KINGSTON, JAMAICA.

[VOL. 115.
LONDON, CANADA.

LONDON STREET RAILWAY CO.
-A trolley road. Incorp. under
she laws of Canada in 1873. Franchise expires 1925. at which time, or any
fifth year thereafter, the city has the right to purchase the property (except
eprIngbank line) on an arbitration *basis, by giving one year's notice in
advance
Operation by Ontario Ry, and lunicipal Board.
-On May 5 1920 the
Board took over the operation of the line. Compare V. 112. p. 1399.
STOOK AND BONDS- Date,
Interest. Outstanding. Maturity
stock $750.000 4401_ _______
J-J
$637.480 July'17 3%
wine. mortgage 8750.000 gold! 11196
5 g M-S
475.000 Mar.8 1925
($1.000)c•1Toronto General Trusts Co., trustee
Bones -The remaining $.50.0110 can only be issued for 66 2-3% of actual
:ost of additions and extensions, when net earnings are equal to 10% of all
ponds out, including those to be issued: but total debt must not exceed
$20.000 per mile of single track. V 78. p. 2384. Interest is payable at the
Canadian Bank of Commerce, Toronto. In each of the 10 years preceding
maturity 5% of bonds shall be drawn by lot and redeemed at par on 40
'lays' notice. $225,000 have been retired.
Dividprids.-In 1901 g°7 was paid; In 1902, 8%;8% in 1903. 1904. 1905
0
sad 1908 In 1907 dividends omitted on account of strike. In 1908 to
1915, Inclusive, 6% per annum. In 1918, Jan., 3% (cash); July, 3% (in
stock ,. In 1917, Jan- 3% (cash); July. 3% (in stock). None since.
REPORT.
-Years ending Dec. 31:
Gross.
Net.
Charges.
Deprec.
Surplus
1921
$567.866
580.522
$34.514
$34.495
811.513
1920
521.728
70,171
37.421
33.268
def.519
ROA D.
-Operates 36.10 miles of track. Standard gauge. 56. 78. 75
and 110-1b. T and girder rail. 58 motorcars.5 trailers and 6 misc. cars. Has
contract for power with the Ontario ydro-Electric Power Commission.
OFFICERS-Pres., Chas, Currie, Cleveland, O.; V.
-P., Chas. H. Ivey;
Sec. & Treas., L Tait, London, Ont.; Gen. Mgr., C. B. King, London, Ont.
-V.106. p. 607. 234.5:V 1011. p.878; V. 110, p.2076, 2588; V. 112, p. 1399:
V. 114, p. 306; V. 115, p. 183.
LONDON & LAKE ERIE RAILWAY & TRANSPORTATION CO.
On Oct. 15 1918 the company being defunct, ceased to operate, and,
according to official information. Its assets have been scranped. See also
V. 108, p. 2.528. Compare V. 109. p. 2263; V. 113. p. 1688. For history
•ee this publication of Sept. 29 1918.

MANILA, P. I.

THE MANILA ELECTRIC CORP.RGANIZ ATION.-Incorp. in Connecticut June 26 1903 as the Manila
Electric Railroad & Lighting Corp. (name changed to pre ent ti, le In Oct.
,
1921.) Owns entire stock of Manila Electric Co., having a .50-year franchise
from Mar -13. 24 1903, practically the entire stock of the Union Truck Co.
and of the Con:mania de los Transvias do Fiiipinas, and the entire outstanding bonds ($3,000.000) of the Manila Electric RR. & Light Co.. which
have been assumed by the Manila Electric Co. Besides doing the street
railway business, supplies light and power for private, municipal and Goveminent use. Municipality may acquire property after 25 years on a
valuation fixed by net earnings. the Supreme Court of the Islands being
referee. Stock and bonds are listed on N. Y. and London StockExchaeges
On Dec 6 1909 Increased authorized stock from $6,000.000 to 88.000.000.
V 90, p. 372
new stock to he
Punt prof
No pref. stock outstanding at last accounts (Oct. 1922). Compare
V. ii)). p. 2192; V. 111, p. 1472.
SToCK AND lioN Ds- Date.
Interest. Outstanding. Maturity
Stock corn 86.000.000 (3100)$5.000.000 Oct'22. 2%
('ref $3.000,000 8% cum .
First lien and coil tr $5.0004 1903
5 g M-S
4.116,000 Mar. 1 1953
Isione000 gold (51.000).
cslInt. at Equitable Trust Co., N. Y., tru tee.
Bonds.
-A sinking fund of 1e % of bonds outstanding began Mar 1 1908
and ran until 1917; now 1% of bonds outstanding. The fund is to be
Invented in the bonds at not more than 105 and interest, at which price they
are subject to call for the purpose
Are redeemable as a whole at 105 and
Interest tin or after Mar. 1 192e. V. 112, p. 2111. Bonds are listed on N Y.
Stock Exchange. 3881.000 are In hands of trustee for sinking fund.
33,000 held by trustees in lieu of mortgaged property sold.
Notes.-IlavP a sinking fund of 1214% of the auth. amount welch must
oe expended annually either Per betterment.; and limits. to the property or
for the retirement of notes by purehase in the market or call by lot at not
exceeding the redemption price. No new mtge other than purchase
money mores. shall be created on any of the co.'s property without equally
anti ratably securing this issue. Notes are rod all (or In part for sink. fd.)
upon any int. date on 1 month's notice a. 102 and Int. prior to Sept. 1 1921
and at, 101 and int. thereafter. Tax refundable in Penna.
Diridends.-In 1906 and 1907, 3% paid on corn.: in 1908 to 1910 incl..
4% in 1911, 5t%; in 1912, 1913 an.! 1914, 7%; since. 6% per annum.
In July and Oct. 1922, 2% was paid.
REPORT.
-For calendar years:
Net (aft. Tax). Int., eic.
Cross.
Dividends.
Surplus.
1921 ....$3.68I.398
$1.450.058
$503,827 (6%)$300,000 $646.231
1920 ___ 3,-118.405
1,201,182
382,354
(6%)300,000
518.828
1919 ___ 2,599.565
931,004
507,480
(6%)300.000
123,524
ROAD.
-Operates 52 miles of track (including Manila Suburban Rye.
lo., in the city and suburbs. 70-111. T and 92-lb girder rails. Owns 59
single and 86 double-truck passeneer cars and 21 service cars. Two 5.000
k.w. turbo-generators are now in service.
OFFICERS.-Pres., Charles M.Swat; Vice-Pres'ts, J. 11. Pardee, Joseph
K. Choate and R. B. Merchant, New York; Sec. & Treas., T. %V. Moffat;
%-:et ;tee re A ilon,
•hortv.
5t Treas
it Ii Brown. Operi eel eerier
management of J. G. White Mgt. Corp., New York.
-V.114, p. 2580, 2718.
-All outstanding corn. stock except directors
(1) Manila Electric Co.
shares is owned by Manila Elec. Corp.
Interest. Outstanding. Maturity.
Date.
BONDS1st & ref M 7% ser due 1942) 1922
7 g M-N $2,500.000 May. 1 1942
520.000.000 (5100. 5500 &
lst & ref M 5% ser due 1948._ ---73.000
5%
1940
c*&r*J Equitable Trust Co., N. 1 ., trustee.
$1.000) g
Are guar. prin, and int. by Manila Elec. Corp. See details in V. 114.
p. 1788.
pays
(a) M anila Suburban Railw a te.
Bonds_
nterest. Outstanding. Maturity.
5_$ M-S
First mortgage 52.500,0001 1908
$128.000 Sept. 11046
c*f New York Crust Co., trustee.
gold ($1,000)
-Assumed by the Manila Electric Co. and are guar.. p. & I..
Bonds.
by The Manila Electric Corp. Are subject to call after Sept. 1 192g and te)
purchase for sink, fund since Sept. 1 1911 at not to exceed 105 and int. at
which price bonds can be drawn by lot. See V. 80. p. 220. $82,000 are
held in sink.fd. and not incl. in outstdg. amount as above. V. 113. p. 2614.

-A trolley road.
WEST INDIA ELECTRIC CO.
ORGANIZATION.
-Incorporated 1897 in Jamaica. In 1907 took over
She lighting business on a rental basis. Franchise expires Jan. 1 1928.
MONTREAL, CANADA.
Interest. Outstanding. Maturity
STOCK AND BONDS- Date.
MONTREAL TRAMWAYS & POWER CO.
$800.000 Oct '22, 1
-A holding company,
Stock $800.000 ($100)---5 g J-J
800.000
mortgage $600.0001 1898
Jan 1 1928
First
ORGANIZATION.-Incorp. In London. England. in 1908, and controls
c• Montreal Trust & Deposit Co., Trustee.
($0)gold
50
.he following
Interest at Bank of Montreal. Montreal.
Not subject to call.
dontreal
Montreal Public Service Corp.,
-First dive on stock-1%-paid April 1 1908; I% was &gait Janadian '1 ramways Co.,
Dividends.
Light di Power Co.,
Montreal Hydro-H:10c Co.. Ltd.
paid July 1 and Oct. 11908. In 1909, 4%%;since. 5% per annum.
Montreal Tramways Co. and Can. Lt. & Power Co. stockholders received
REPORT.
-For years ending Dec. 31:
shares of Mont. Tram. & Power Co. stock for each share of their stock.
Dividends. Surolu,
Net. Int.eiRPnts. Taxes.
Gross.
V. 94. p 417. 207.
Year$536,868 $180,811 850.000 $14,168 (5%)$40.000 $56,443
In March 1919 issued 37,300,000 5-year (lei% secured bonds to refund
1921
13.732
(5%)40.000
135.820
47.550
34.538 an Issue of $5.320.000 2
490,181
-year notes due April 1 1919, a limited number of
1920
holders of which were offered the privilege of exchanging their holdings for
le Passengers carried In 1921. 8.720,939. against 8,410,672 in 1920.
BOA D.-Operates 24 miles of track in and around Kingston, Jamaica. the new bonds. V. 108. p. 784.
Gauge,4 ft.84 In. 90-1b. girder and 60-lb. T. rails.
STOCK AND BONDS- Date.
Interest. Outstanding. Maturity.
-P. O. J. Crowdv; See
itock $20,002,000
OFFICERS -('re. . James Fietehison: V.
$17.580.930
-V. 103, p. 58; Sec bonds $7,300.000 ($100.) 1919
7,300.000 Mar 11929
6eigM-N
H. Ross-Eneers; Corns'., J. M. Clark; Mgr., D. N. Barr.
$500 and $1,000) gold__c*lMontreal Trust Co., Montreal. trustee.
V. 104, p. 1168; V. 108, p. 1166; V. 112, p. 1172; V. 115, p. 75.




6
,
-year 61 % bonds are secured by $7,000.000 debenturt
-The 5
Bonds.
-year 6% bonds of
Mock of the Montreal Tramways Co. and $2,500,000 5 turn secured b3
the Montreal Tramways & Power Co.. Ltd.. which are in
all
$2,100,000 COM, stock of the Montreal Tramways Co. Redeemable,
1921
or in part. at 101 and int_ upon 30 days' notice on and after Nov. 1 Hoch
Interest payable at Merchants Bank of Canada, Montreal; Banque D' 108
-V.
elaga, Montreal; Agency of the Merchants Bank of Canada, N. Y.
p. 781; V. 100. p. 812. 1618; V. 101, p. 1264; V. 107. p. 2294; V. 108, P. 269
784.
(1) Montreal Tramways Co.
-Chartered in 1911 and acquired by merger the
ORGANIZATION.
Montreal Street Ry., Montreal Park Rz Island Ry. and Montreal Terminal
the
Co. (V. 93, p 871. 1324), the last two companies being subsidiaries to
street
Montreal St. Ry. V. 03, p 1022. 110f1. Owns and controls entiremile tit
except about a
railway system in Montreal and Island of Montreal,
Interurban line entering the city
-In Jan. 191g representatives of the co. and the city
New Franchise.
!signed a new franchise agreement, running for 35 years. which provides
persons
(a) for the creation of a permanent Tramways Commlskion of three mainte
with complete powers over the service, fares, finances, exts. and
the
nonce; (sl fixes the valuation of the existing system at $36.286.295 for
physical property, plus an unnamed amount to be specified by the Coro
guarantees that the company
mission as 'working capital." (el practically
shall be allowed at all times to make a profit of 6% on the total investment
thus arrived at and on such new capital as may from time to time be put in
of 1% in each year in
(d) allows the company a further remuneration of
the estimated operation chancel
which it dense not exceed by more than 2
.
,
the company can calculate upon 6w`2
&Bowel by the Comm. In effect,
on Its total investment as a guaranteed minimum earning power so long as
forward to a
it is effic'eatly administered. The company can also look to the city of
share of all surplus profits arleing after the annual payment
1500,000 and the upkeep of certain maintenance and guarantee funds
neither of which funds should he at art burdensome. The surplus arts,
these charges '8 t ) be divided. 20% to the company, 30% to the city tress
nry and 50% to a fund for reduction of fares, which may take place whe.
the fund accum dates to 31.000,000. and must take place whenever tt
een -ains 112.50“.000. (e) Dividend distribution Is limited to 10%. the
pres eat rate 'fl An appeal from the Comm lies to the P. U. Comm
details see V. 106. p 607.
of Q
Debt to City.
-V. 112, p. 653.
-In Sept. 1918 was auth. by the Quebec P. U. Comm. to
Fare Increases.
eharge a 6-cent fare in the daytime, or sell 5 tickets for 25 cents. Between
6 and 8 a m. anal 5 and 7 p. mu. 6 tickets are to be sold for 25 cents, while
are to be
school children's tickets will be sold at 7 for 25 cents. Night faresCompare
15 cents cash. Transfers are to be free. V. 107. p. 1288. announced
V. 106. p. 2757. In Sept. 1919 the Montreal Tramways Comm. workmen's
an increase in rates to 7 cents cash, 4 tickets for 25 cents and the Quebec
tickets at 5 for 25 cents. V. 109, p. 982. On Oct. 14 1919
effective
P. U. Comm.. on the appeal of the City of Montreal. fixed faresfor $2 50
44
Oct. 26 1919, at 7 cents cash with tickets at 5 for 30 cents and for 25 cents
to 4
V. 109. p. 1610. In Aug. 1920 ticket fares were raised
Cash fares remain unchanged at 7 cents. V. 111. p. 896. proceeds being
In Nov. 1121 brought out 81,750.009 1st & ref. M. 5s, n 2405.
V 111
user] to eohnitur :o the en. In part fr edrins & nets.May 1 1922, were paid
Two issues af Montreal ,t. Ry. debentures, due
$181,900 sterling debentures were
off at maturity. V. 114. p. 2013.
retired at maturity Aug. 1 1922. V. 115, p. 645.
Interest. Outstanding. Maturity
Date.
snrOoK AND BONDSSee text
*84.000.000
stock common_
See text
,0.000
17.6 Debenture stock
,
18.1 85.000 July 1 1941
5 J-J
let & ref mtge $75.000,000 gl 1911
k$1.000) Pay in Lon-;• Ilarris Tr. & Say. Bk.. Chic., Trustee. Nat.
MOO
don p&i in £.=-S4 86 2-3_c*j Tr. Co.. Ltd., Montreal. Co-Trustee.

NIAGARA FALLS, CANADA,
NIAOARA ST. CATHAR. & TORONTO RV.
Is operated by the Canadian National Railways.
ORGANIZATION.-Incorporated in Canada in 1899. A consolidation
it the Niagara Central Ry., the Niagara Falls Welsey Park & Clifton Tramvay Co and the Port Dalhousie St. Catharine's & Thorold Electric Street
iy. Franchise perpetual. Owns and operates Niagara St. Catharne's
Toronto Navigation Co.; also transports freight.
MO of 2d mtge. bonds at rate of
Shareholders voted 1910 to make an ls,
110.000 net. mite sn Na• Ti' eln T.td Toronto tr.tatoo V qn n. 34 1295,
-On Mar. 30 1920 the City Council of Niagara Falls,
Municipal Control.
Ont.. decided to take over the local line of the co. V. 110. p. 1749. NO
further Information.
In Dec. 1921 it was reported that the Ontario Hydro-Electric Comm. had
obtained on option on the purchase of the road for $3.511.374. As part
payment the Hydro-Power Comm. would assume the co.'s $1,098.000 1st
M. 5s and would pay the remainder of the purchase price in Hydro-Power
V.
50-yr bonds guaranteed by the Province of Ontario
Comm. 4
113. p. 2505. Compare V. 111. p. 291. 1370. The propositien was submitted early in 1922 to the people of the various municipalities served
by the line, but fa led to carry. Compare V. 114, p. 307. 1064.
Maturity.
4T001{ AND BONDS- Date, Interest. Outstanding.
3925.000
.tock $1.000.000
1,098.000 Nov 1 1929
5 g M-N
tailicay First mortgage gold 1899
(11.000) ($1.000 or £205 Int. at Canadian Bank of Commerce, Tor"
onto, and Bank of Scotland, London.
c*
9s 8d)
National Trust Co.. Ltd.. Toronto. Trustee.
None
1910
'econd mortgage
Nov 1 1928-N
5g M
lavlszation Co First mort-1 1903
gage $201.000 ($1,000 or Int.atCanadian Bk.ofaaan..Toronto& N. Y.
_0* National Trust Ctn. Ltd. Toronto. Trustee.
£29,598 841) gold _
Bonds.-Of the Railway bonds ¶20,000 per mile is authorized and issued.
tee V. 82, p. 869. The Navigation bonds are guarantee:I by the Railway'
Neither issue is 41113fOnt to call
& 1.. by endorsement
-Owns and operates 61.67 miles of track. Runs from Port Dalflo A D.
e)isle on Lake Ontario. passing thrsuge St. Catharines Merritton Thoreld
an extension of 18.5 miles
k nd Niagara Falls, Ont., to Falls View Ont. Has
'ts) n rhore1.1 through Fonthill and Welland to Port Colborne; also an exMain
-1.i ea nr 12 2 hita from sr natharinos to Nlatrara-on-the-Lake
line has been replaced with 80-lb rail 47 pass. cars, 7 electric locomotives,
2 laetric snow plows and 5 miscellaneous cars. Alsa oper ttee two steamers.
Permission to build several extensions has baen granted by the Dominion
ment
•EA RNINGS.-For cal. years:
Int.
Charges. Surplus,
Gross. Erpenses.
Cal. Years3926.390 8717.953 3208.437 3110.811 897,625
1919
60.589
766.422 559.961 196.462 135 873
19187
256.56)4 118879 197,605
9A no
7 .
*No longer reported separately. 0 re5nrValuded in accounts of Canadian
Northern System.
-P., A. J. Mitchell;
OFFICE RS.-Pres., D. B. Hanna, Toronto; V.
-v. 110,
Toronto; Soc., R. P. Ormsby; Gen. Supt.. E. W. Oliver, Toronto.
P. 1749: V. 111, p. 294, 1370: V. 113. p. 2595: V. 114. P. 307,_1064.

$ Including as of June 30 1922, $6,830 uapaid and subjecc to call.
-Remaining 1st & ref. bonds are f tr extensions and additions at
Bonds.
not eaceeling 75% of cost under certain restrictions. Red, as entire issue
(but not any par) at 105 and int. on any int. date. Int. payable in N. Y.,
Clhicag ), Montreal and London. V. 93, p. 1463. Listed on the N. Y.
(V. 97. p. 1025), Montreal and London stock exchanges.
-On deb stock 6% per annum since organization. In April
Dividends.
1913 an interim div. of 5% was declared on the paid-up common capital
1840),
stock. A quer. div. of 2'% was paid Aug. 1913 (V. 96. p.W'7, for and
the
of 2
2% quer. to and incl. May 1918. In Dec. 1919 a div. In 1920. Mar..
second quarter of 1918 was paid. See V. 109. p. 2440.
,
7
here. 214' a Sept.. 2.4": Nov., 2 14%. In 1121 10%. In 1922
2.4%;
Mar.. 2%. clearing up all arrears on the stock. V. 114, p. 1180. In
0
Aug. 192;. 1:%67 NV.4S paid: Nov., 234%.
Statement of Operations Unaer New Contract-Years ending June 30.
1921.
1922.
1972,170
111.712.525 $11 ,773.015 110,780
Gross receipts
5.81:1.912
6,327,811
5,769,403
Operating expenses
46,606
47,442
47,960
Operating profits
2.190.557
2,529.055
2.579.200
Maintenance, &c
$3.315,952 $2.868.667 $2,695,311
Balance
2,177.178
2,177.178
Allowances due Os.: Int. on cap. value 2,177,178
69,f07
118,859
145.1181
Int. 7% on additions
23.833
12.4q1
6,596
6% on working capital
Int.
181.311
181.431
181.431
Financing expenses
Balance, surplus
Payable when earned: City rental_
Contingency reserve

$805,073
$500.000
117,125

1378.708
$500.000
117.730

$213,121
$501,090
107.825

$334,700
$239.022
sur$187,948
Deficit
Company's Income and Profit and Loss Statement for Years ended June 30.
1910-20.
1923-21.
1921-22.
.
$`, .377,118 $2,355.970 $2.317,445
Allowance from contract
58.135
55.359
64.061
Other revenue
$2,441,479 $2,411.329 $2,375.580
Gross rove.nue
1,014.169
1,082.418
1,043.100
Interest on bonds
850.000
851.313
857.500
Interest on debentures
28.902
17.511
16,875
Other expenses
$152.519
$161,057
$521.011
Not income
(10%)$397.432(10)8385.991(734)290.550
Dividends

OTTAWA, CANADA.
-A holding company.
OTTAWA TRACTION CO.. LTD.
ORCIANIZATION.-Incorp. Oct. 23 1913, and acquired $1,860,160
f the stock of the Ottawa Electric Ry.
Matarity
STOCK AND BO N DS- Date. Interest. Outstanding.
See text
$5.581.200
Q-J
S eee $10,000.0(10 (8(00)
div.-1%-pahl July 1 1914; same rate quer. since.
with I I., extra In January. making 5% per annum.
-P., Warren Y. Soper; Sec. &
rEFICERS.-Pres.. T. Ahearn; V.
Treas.. 0 L. Snelling: And.. A. 4. Orawlev.-V 107. p. 803: V. 109. p.
V. 111. P. 2521: V. 113. p.21314; V. 114, p. 627.
2263;
1i Muse& Electric Ry.-A trolley road.
r311a1kNIZATION.-Incorporated in 1494. Is a consolidation of the
Ottawa City Passenger Ry and the Ottawa Electric Street Ry.
tola inereaseat Its loth qtook from ea telt) 0110 to t4.n0n.000.
te
Municipal Ownership Voted Dmen.-The taxpayers on Jan. 3 1921 defeated a by-law to purchase the co.'s property at the expiration of its franchise in 1923. V. 112. p. 258. Compare "Electric Railway" Supplement
of Oct. 30 1920. On Jan. 3 1922 municipal ownership and operation were
again voted down. V. 114. p. 307.
-In Nov. 1921 the Hydro-Elec. Pow. Comm. of Ont. set a
Valuation.
valuation of 34.110.922 on the co.'s line and equipt. In Ontario, V. 113.
p. 2313.
-Effective Aug. 311918, the company abolished the sale of reduced
Fares.
-cent fare. V. 107. p. 1193. See
rate tickets and established a straight 5
also V. 108. p. 974.
Interest. Outstanding. Maturity.
STOCK AND BONDS- Date.
el 876,900 See text
0-.!
Stock ¶4.000.000 (s109)
Bonds.
-$100.000 1st mtge. 4% bonds due July 5 1922 were paid off at
maturity. V. 11.5. p• 183.
-From 1893 to 1905. ft% per annum; in 1905, 2% extra;
Dividends.
1906 to 1922, incl., 12% p. a.; in 1912, 1634%;since to and incl. 1921. 15%,
EARNINGS -For years ending Dec. 31:
Interest. Ccmting. Dividends Balance,
Net
Gross
Calendar
Earnings. Earnings. Taxes.eic. Account. (15%). Surplus.
Year$177,010 $117.182 160.000 1281.580 $18,086
$1.323.830
1918x
18,248
281,580
125.623 110,000
535,289
1.210,627
1917
Passengers carried in 1918. 29,723.068, against 29.347.692 in 1917.

$161.958
$72,063
$126,572
Surplus for the year
ROAD.
-Operates 267 miles of track. ene company's steam power
h. p. V. 102. p. 345
plant is to be enlarged from 10,000 h. p. to 60.000
In 1904 contract was made with the Montreal Light. Heat & Power Co
for a supply of power.
-Ps.. J. W. McConnell and Hon
OFFICERS -Peas , El A Robert; V.
Geo. 0. Foster Sec.-Treas., Patrick Dubee; Gen. Mgr. J E. 1Rutchason
-V. 113. p. 819, 960. 1053, 1156. 1465, 1171. 1675, 2313, 2405; V. 114.
p. 79. 627. 1180. 2013; V. 115. p. 645, 1529, 1731.
(2) Canadian Light 5c Power Co
-walla
ORGANIZATION.-Incorp. in Canada on June 2 1904. See de
lion of company's developments in V.91, p.591. and V. 89. p.848. 7fas
the perpetual right to distribute and sell power and light in Montreal and
@sworel adjacent counties. Distribution system in Montreal has been taken
over by the Montreal Public Service Corp
Interest. Outstanding. Maturity
STOCK AND BONDS- Date.
36.000.000
Stock $7.000.000(3100)6.500.000
5 J-J
First mortgage 36,500.0001 _-_'Royal Trust Co.. Canada. Trustee.
($500 and $1,000)
-let mtge. bonds are subj. to call all or any at 105 at company's
Bonds.
Slak. fd. began July 11914. Int. payable in Montreal or London.
iption
-Owns a new and modern hydro-electric plant at St•
PROPERTY.
h. p•
Tlmothee, 28 allies from Montreal; present development about 30.000
-V.89. p. 848. 1283; V.91. p.591
Ultimate development. 75.000 h. p.
'Si Montreal Public Service Corporation.
has acquirer)
This company (formerly the Saraguay Electric & Water Co.)
Electric Lt. & Pow. Co. ant'
the Dominion Lt.. Ht. & Pow., the St. Paul Co. in Montreal. Control.
system of the Can. Lt. & Pow.
the distribution
sections of the city and pro
an established business In various important
developed by the Can
vides a market for a large amount of the power
Light & Power,Co.




145

ELECTRIC RAILWAYS

OCT., 1922.]

x No later figures puolished.
Rockliffe.
ROID.-Operates 52 miles of track in city, and to Hull,
a park
Britannia-on-the-Bay and Government Experimental Farm. Has 80, 94
If 51 acres at Britannia-on-the-Bay. Standard gator°. Rails. 72.
And -trier
add "
-V. 111. p. 1557; V. 112, p. 258;
-Same as for Traction Co.
OFFICERS.
V. 113, p. 2313, 2819; V. 114, p. 317. 2718: V. 115, p. 183.

PONCE, PORTO RICO.
Feb. 1 190
PONCE ELECTRIC CO -Organized in Porto Rico and on
the
took over the property formerly controlled through stock ownership by
Jersey corp.). Operatas the railway between
Ponce Electric Co (a New
business
Ponce and the Playa (Port) and does the entire fighting and power
of Ponce and the Playa. Railway franchise expires in 1961. electric-light
franchise in 1963.
Interest. Outstanding. Maturity.
STOCK AND BONDS.- Date.
$ 500.000
Cone. stk. 11.000.000 ($100)-400.000
7%
Prof $1.000.0(a cum.
E kRNINGS.-For 12 months ending Dec. 31 (combined companies):
Sinking Pd. Surplus.
Gross. Net (aft. Tax) Interest
Year$71.409
$11
371,480
1276,722
1921
88,231
14
88,244
239,483
1920
Dec. 31 1920
x For 11 mos. ending
miles of
ROAD -Operates 5.53 mliee of equivalent single track, .54 capacity
trackage
12 cars Gauge. 1 metre. Power station has(150k. w. G. A.
OFFICERS.-Pres. Harry T. Edgar; V.-Ps. M. L. Sperry and Mgrs.,
Gun.
D.
delsTazeth; Treas.. Henry B. Sawyer; Sec., Victor74. Vickery;
p. 268. 478.
-V.
Stone & Webster Management Association.
PORTO RICO RAILWAYS CO.. LIMITED.
-Incorporated In Canada Oct, 1906 and has acquired
ORGANIZATION.
itie San Juan Light & Transit Co. and Porto Rico Power & Light Co. and
Co. Controls all the electric railway. electric light and
1aguas Tramway
eawer business of San Juan. San Turco and Rio Piedras; also controls entire
lighting systems in cities of Onmerio. Bayamon. Oaten°. Carolina. Caguas,
4,Io Grande. Fajardo. Humacao. Yabucoa Gurabo, Juncos and other towns
a east end of island. Its lighting franchises in San Juan and San Turco are
Perpetual. The Cornell() Water l'ower anti Cazaas Tramway franchises
ar for 09 years from 1908. The street railway franchise runs until 1959.
An express service was inaugurated in 1908 in conjunction with Porto Rico
Express Co.

146

ELECTRIC RAILWAYS

Contract.
-Has a 6-year street-lighting contract with the city of San
Juan and with about 30 other towns for various periods
In Juno 1922 the capital stock was increased from $4,000,000 to $5,000,000. V. 115, p. 183. No further information.
STOOK AND BONDS- Date. Interest. Outstanding.
Maturitu
Common stock $3,000,000--Q-J
$3,000,000 Jan '22, 1%
Pf $1.000.000 ($100) 7% cum_ ---1,000.000 Oct '22, 1 at
Q-3
First mortgage $3,000,0001 1906
2.445,000 Nov 1 1931.
5 M-N
($500) gold
(Int at Montreal Trost co., Trustee
'Montreal and Halifax.or Bank of Nova Scotia.
Rerun ling general mortgagor 1912
5 M-N
E265.000 May 1 1962
/1.500.000 (£100)
c*lInt. In London, Montreal and Toronto; Mon( treat Trust Co.. Trustee.
Bonds.
-First mtge. bonds are subject to call at 105. Sink. fd. of 1 ce
of bonds issued plus one year's Int MI canceled bonds began Nov. 1908
$555.000 bonds canceled. First Mortgage bonds are listed on Montreal
and Toronto Stock Exch. Of ref. gen. mtge. bonds £502,000 are reserved for
1st M. bonds aud £189,700 are in treasury; remainder for future require
meats under restrictions
Subject to call as a whole or for cum. sink
lag fund (1% of bonds out beginning in 1937) at 105 and int. V. 94. v
Are listed on London Stock Exchanize
1566
oteictends.-First div. on ipiref..l(%. paid Jan. 10 1910, and same
am Hint quarterly since to and includiog Oct. 1922. On corn., 1st div., 1%
paid Oct 1911. In 1912 and 1913 4%. In 1914. Jan.. 1%: April. 1°.:
July. I. None to July 1920. when 1% was paid
'in Oct.. 1%. In
192l,43. In 1922, Jan., 1%; April 1922 div. omitted. V. 114, p. 1288.
REPORT.
-For calendar years:
Year- Gross.
Oth.Rev. Interest.Prej.Div. Com.Div. Surplus.
Net.
1921 __$1.332,486 $465,715 $12,877 $188,920 $70.000 $120,000 $129.672
1920 __ 1,402,736 563,070 54,484 191,463 70,000
90.000 266,091
1919 __ 1,129.782 435.939 23.603 193,883 70.000
195,660
Total surplus Dec. 31 1920 was $432,936; $12,000 for miscellaneous reserves and $100,000 depreciation reserve.
7.143.810 passengers carried in 1921, against 8,855,412 in 1920.
ROAD.
-Operates from San Juan to Rio Piedras, 9 miles electric.
Standard gauge. An extension of IS miles to Caeteis. which le being operated by -.team meter eauee. was cern eier,-1 In 199e
OFFICERS.
-Pr.,
; V-.Pres., L. M. Wood; Sec.. T. A.
Spoor; Gen. Mgr.. Manuel V. Domenech, C.E.-V. 99, p. 463. 895. 1367;
V. 100, p. 902; V. 102. p. 1163; V. 104, p. 765; V. 106. p. 1901; V. 110, •P•
1188, 2568; V. 115. p. 183.

QUEBEC, CANADA.

[VOL. 115.

Rates.
-See V. 111, p. 2141; V. 115, p. 760.
Stockholders on April 12 1922 voted to change stock from $100 par
to shares of no par value. V. 114, p. 1652.
In Feb. 1922 Quebec fly., Lt. & ['ow, Co., a subsidiary, applied for an
amendment to its charter authorizing it to is-sue bonds. V. 114, p. 948.
STOCK AND BONDSDate.
Outstanding Waturity.
Interest.
itock $10,110).000 l$100)
-Q-J In $9.499;4)0 lan.15 12 Ie,
')onsoliciated mortgage $10-I 1909
5 g J-D
6,009,900 Dec. 1 1939
000.000 g 4100 $500 and( Int. at Montreal Trust Co., Mont.. trustee,
$1.000
Bank of Scotland, London. Eng.
auebec-Jacques Cartier Pow( 1901
5 J-I)
849.000 Dec 1 1941
let ref $1,000 000 ($1.000) Truet Co. of America, N. Y., trustee.
g interest In N Y
c*(Interest at company's office, Quebec
Mortgages on lines to be taken over Dy Govt.4ue-Sag Div lstNI $2..500.0001 1911
5 F-A
2,356.000 Feb. 1 1941
sink fd. P & I payable In( Int. at Dominion of Can. Tr. Co., Montreal
francs or Canadian curr_c*I Trus., or at office of R. Forget, Paris.
4tie Ry L II & P new mtge( 1912
5 J-J
2,100.000 Jan 1 1942
60.000,000 francs(500 fr)__J
auebec-Montrnorency Ry Ml 1899
2,500,000 June 1 1923
5%
gold $2,500.000 ($100 $500{1nt. at Bank of Montreal, Montreal. and
$1.000
0'1 Union Bank of Canada. Quebec.
Bonus -Consol. mtge. 5s of 1909 are red. at 105 and Int on any int. day
$3.411,000 of the consol. bonds are reserved to retire underlying bonds and
$579,100 are In treasury. $144.000 Quebec-Saguenay Div. bonds haue
been canceled.
tatrutenas.-Initial dly.-1%-paid April 15 1911; July, 1%; Oct.. 1% •
In 1912. Jan.. 1%; none since.
REPORT.
-For 18 mos. end. Dec. 31 1921 and years end. June 30
(report in V. 114, p. 1649):
June 30
Gross
Net
Misc. Charges &
Balance,
YearEarnings.
Earnings. Credits.
Stop/us.
Taxes.
a 18 months_ __ _S4,139.320 $1,034,480
4932.772 sur.S101,708
x
1919-20
2.372,034
602,471
x647,174
x
def.44,703
1918-19
2,077.621
633,105 $27,723
726.102
def.65.274
a 18 mos. to Dec. 31 1921; fiscal year changed in 1921 to end Dec. 31
Instead of June 30. V. 113, p. 1983. x 'Misc. credits" not stated separately,
'Olt has been deducted from "charges and taxes."
ROAD.
-Owns 24.64 miles city track and 33.59 miles Interurban.
56 and 70
-lb. rails gauge, 4 ft. 8 ai
OFFICERS.-Pres., E. A. Roberts, Montreal; V.
-P„ Hon. Lorne 0.
Webstrr; Sec., Arthur L0110i90, Quebec; Treas., R. A. Wilson; Gen. Mgr.,
W. J Lynch; Comptroller, H. 0. Bosse.
•
-V. 110, p. 562; V. 111, p. 1279.
1356, 1662, 2141; V. 112. p. 1025; V. 113, p. 534, 850, 19; V. 114, p. 948.
1409, 1649, 1652; V. 115, p. 544, 760, 1732.

QUEBEC RAILWAY 1.1(JH I' HEA t & POWER CO.. Ltd.
Proposed Reorganizatioq.-In Oct.'1922 it was announced that as a preliminary step in the reorganization of the co application is to be m nip
SHERBROOKE, QUEBEC.
"for the incorporation of three companies, Quebec Power Co., Quebec Gas
SHERBROOKE RAILWAY & POWER CO.
Co. and Quebec Tramways Co." V. 115, p. 1732.
Control.
-As of March 1 1917 the Southern Canada Power 0o. acquired
ORGANIZATION .-lecorp ;rated it, l Isibi.d.1 ou NOV 10 1909 11, a COO
more than 10,000 shares of the co.'s stock on the basis of 4 shares of Shersolldation of the following properties (V. s14. P 1598t:
brooke Ry. & l'ower Co. stock for 1 share Southern Canada l'ower Co.6%
Quebec fly., Lt a Power 0o.
'Quebec Jacques Cartier Electric Co
preference stock, cumulative from Jan. 1920. V. 104, p. 74.
uebec Oas Co.
Canadian Electric Light. Co.
OROANIZATION.-Incorp. in 1910 in Quebec. Can., as successors to
rontenac Gas Co.
Quebec County Railway Co
the Sherbrooke Street Ry. In July 1911 acquired the Eastern Townships
Those companies do an electric-light and power. gas and street r .ilwas
Elec. Co. and the Stanstead Elec. Co. V. 93, p. 230. Also owns the
business In Quebec and surrounding parishes. Has contract with the
Lennoxvile Light & Power Co. Controls major part of the electric light
Staclacorm Hydraulic Co. for supply of power. V. 94. p. 1449.
Purchase by Government.
-The Dominion Government has contracted to and power business In the district between Sherbrooke and the International
purchase (ownership to date back to July 1 1916) the following lines: (a) Boundary.
In 1913 acquired the Burroughs Falls Power Co., which controls the elecQuebec Montmorency & Charlevoix fly., extending from St. Paul St.,
Quebec to St. Joachim, 43.2 miles but see V. 110, p. 562; V. 111, p. 1662j tric light and power business in Ayers' Cliff, Que. V. 97, p. 1824. In 1914
(b) Quebec & Saguenay Ry. ext. from its June. with the Quebec Mont. Sr acquired the International Elec. Co. doing the electric light and power
Chad. fly. to St. Joachim to Nairn Falls, 62.8 m. (acquit*. in Mar. 1919); (c) business In Derby Line, Vt., and In '
191.5 acquired the lighting and power
Lotbiniere & Megantic Ry.(acquired Apr. 1 1920). extending from Lyster to business of GOO. °ale & Sons in Waterville and Compton. Quebec.
Franchise In Sherbrooke is for 40 yrs., exempting property from taxation
St. Jean des Chaillons about 30 in. The purchase price of these properties
Is to be "the value thereof as determined by the Exchequer Court of Can- for 1st 20 yrs. At end of 20 yrs. city may purchase street railway property.
Consul. mtge. 54 were offered with a 40% stock bonus. V. 91, 1:1• 95: V. 93
ada; said value to be the actual cost of said railways, less sub
.
oldies and less depreciation, but not to exceed $4.349,000, exclu
p• 590; V.94, p. 1120.
sive of outstanding bonded indebtedness, which is to be assumed by
STOCK AND BONDSDate,
Interest. Outstanding. Maturity.
the Government, but not to exceed In all $2,500,000"(being the $2,500,000 Stock $1.500.000
*1.127.000
($low .
Quebec
-Montmorency Ry. 1st M. 5s of 1899. due 19231. The lines are to 1st M. $1.500.00(1
_1 1910
1,213.000 July 1 1940
5 g J-J
be operated by the company until actual possession is taken and the coms f Moo or f ovitilvaltint) tflMontreal Trust Co. Ni
Trogtp.0
panies must render an accounting to the Govt. from June 30 1916 until 2d mtge. ($1,000)
J 1922
6%
500,000 June 30 '27
the properties are taken over. See V. 102,,p. 2255; V. 103, p. 579; V. 104,
'Messrs. Parent & Taschereau, Quebec, trus.
D. 560. In 1916 the Canadian House of ommons voted to appropriate seeebeeeke oteem Itv ter
t. I
• 7
1,10
l'1
$4,000,000 for the purchase of the foregoing lines. During 1917 $332.255
Bonds.
-Of remaining Snerbrooke Ry. & Pow. 1st mtge. bonds,S100,000
was expended on the properties and on Sept. 6 1917 the House re- are to retire Sher. St.
Ry. bonds and 420,000 are held as collateral security.
appropriated the remainder, $3,667.745. On Mar. 4 1919 the Govt.
acquired the Quebec & Saguenay Ry. "free and clear of charge, Incum- Int. at any branch of the Canadian Bank of Commerce in Canada, or at
National
brances or claims," purchase price being $3,489,313. V. 108, p. 974. on any Bank of Scotland, London, Eng. Red, as a whole at 105 and int.
It was announced in May 1919 that the proceeds of this sale, after the pay- July 1 int. day, or in part for sinking fund. Cum. sink, fund of 1% began
ment of the contractor's claim, would be used to reimburse the bondholders Ry. & 1916. $167,000 held in sinking fund. Of the remaining Snerbrooke
Power 2d mtge. bonds, $500,000 are held in treasury for future exts.
of the Saguenay fly., thus relieving the co. of paying int. thereon. V. 108,
REPORT.
-For years elm June .se
p. 1938.
•
June 30
Total
,Vet
Band
Other Written Office
Balance.
The Quebec fly., Lt., Ht. & Pow. Co. acquired the Quebec & Saguenay
Year- Income
Revenue Interest.
Int.
Off. etc.,Exp. Surplus.
Ry. Co. In 1911 through purchase of its $2,500,000 stock and $3,000,000
$26
5% bonds and In turn Issued Its own bonds of 1911 and 1912 shown In the 1919-20__$268.358 $75.128 $53,952 $21,124
$25
1918-19__ 260,165
70.339
54.963 15,025
table below, to pay for same. V. 92. p. 882. 528. These bonds were in38
313
tended to provide for Quebec
x No longer separately reported.
-Saguenay line. extending 5654 miles from
()ape Tourmente to Murray Bay. In Sept. 1912 Construction work on this
ROAD.
line was stopped because of non-payment by Saguenay Co. of claims of extension -Owns L0)e mike, of track In Sherbrooke, including 3-tetle
to Lennoxville. Standard gauge, 70-1b. T rail.
contractors for construction work( V. 95. p. 1040; V. 96,p. 203). Payments
OFFICERS.-Pres., W.0. Hawkins; V.
-P. & Gen.
J. B. Woodyat;
were subsequently made but work was not resumed. The Dominion Govt
Sec. & Treas.. L. C. Haskell. V. 101, p. 924; V. 103, p.1668; V. 101, P.
Mgr..
completed construction or the road in 1918 and on Oct. 1 1920 operation was
74, 664; V. 112, p. 1025; V. 114. p• 1767.
takeil over by the Canadian Govt. Itys
On July 7 1917 the company was awarded $275,000 for the property
known as the Quebec Gas Co.'s land, which was expropriated by the
SYDNEY, NOVA SCOTIA.
Federal authorities, according to a decision by the Exchequer Court.
Coupon Payments Delayed -The Interest due June 1 1913 and Due. I
CAPE BRETON ELECTRIC CO., LTD.
1913 was not paid when due and in Sept. 1911 It was announced that the
OROANIZATION.-Incorporated in Nova Scotia and does the entire
coupons due June 1 1914 were not paid on time, the company following tnu
riectric railway and lighting business in Sydney; the entire electric lighting
policy of paying the coupons at intervals through the three months grace
ousiness in North Sydney, the ferry business between Sydney and North
followitur the due date. V 99. o 748
Subsequent coupons have been
Sydney, and operates an interurban line between North Sydney arid Sydney
paid within the time limit allowed. V. 109. r. 776
Wines. Also owns cap. stock and $220,000 of the $368,000 outetandling lst
Int. due Dec. 1 1914 on the Quebec-Jacques Cartier Elec. 1st refdg. es
was defaulted. A protective committee was formed with W. L. Itallahan, SE bonds of the Sydney Sr Glace Bay Fly. Co., Ltd., an Interurban line 19 m.
in length between Sydney and Glace Bay, which is operated under lease for
111 Broadway. New York City, as Secretary, and bondholders were re
quented to deposit their bonds with the Bankers Trust Co., New York. 19 years from Jan. 1 1911. Guar. payment of said co.'s bonds. principal,
V. 100, p. 403. Interest was subsequently paid. V. 100. p. 559. Sub- Interest and sinking fund. Franchises expire 1931 and 1932 On May 5
1914 authorizes] pref stock was increased from $250,000 to twain()
sequent coupons have been paid to date
Fare Increase.
-Effective Aug. 15 1920, fares were raised from 6 cents to
Plan for Payment of Overdue Coupons on French Currency Bonds, &c.
- 10 cents cash, tickets to be sold at 4 for 30 cents. V. 111, P. 1369.
On Aug. 11 1921, the holders of the two Issues of French currency bonds
STOCK AND BONDS- Date.
Interest. Outstanding. Maturity.
(Quebec Sag. Div. 1st M. 5s of 1911 and Quebec Ry. L. H.& P. 5s of
1912) Oornmon $1.125,000 ($100)-M-N
$1.125,000 Nov.'19. 1 ai
approved the following plan presented by the co.
Pref 6% $500.000 ($100)----M-N
314,000 Nov.'22,
Holders of Quebec Ry. L. H.& P. 5.9 of 1912 to accept in lieu of the bonds First
5 J-J
mortgage $1,500.0001902
1,096.000 Jan 1 1932
and in full satisfaction of the prin. and int. duo:
gold
Int. at State St. Tr. Co.. Boston, trustee.
c
(1) $2 40 per coupon for all coupons outstanding and unpaid and for the Sydney & Glace Bay 1st ntf 1902
5 J-J
Ni,;
148,000 July 1 1932
coupon maturing on July 1 1921, payable without int. upon presentation
$500.000 guaranteed_c_ ntfl Int. at Royal Trust Co.. Montreal, trustee.
for cancellation. In the case of coupons which matured prior to 1916
Stock.
-Preferred stock is redeemable at 120. Capital stock auth by
22c. per coupon will be deducted. representing French Govt. tax;
(2) $19 50 in cash for each bond of 500 francs. French currency, payable charter, $2.000,000. Of the unissued portion as much may be preferred as
without int. upon presentation of said bond for cancellation with all coupons the stockholders determine.
coupons subsequent to July 1 1921 attached:
Bonds.
-Of the 1st mtge. bonds, $2,000 canceled for impt. fund. Impt.
(3) $77 par value of 5% 30
-Year Income bonds of Quebec Ry., Light, fund of 1% of bonds issued. Red. at 105 and int. on any Int. date
Of
Heat & Power Co., Ltd.
the Sydney & Glace Bay 1st mtge. bonds, $72,000 have been canceled by
Holders of Que.-Sag. Div. 1st M. 5s of 1911 to accept in lieu of the bonds sink. fund $220,000 held by Cape Breton Elec. Co. Red. as a whole at
110 and int. on any int. date. Sinking fund of 1% Per annum.
and in full satisfaction of the prin. and int. due:
Dividends.
-6% yearly (M.
(1) $2 40 per coupon for all coupons outstanding and unpaid and for
-N. 1) on pref. stock. On coin., 1st div.
the coupon maturing on Aug. 1 1921, payable without int, upon presenta- 1).%, paid Nov. 1910; in 1911, 4%; In 1912.4% & 1% extra; In 1913 and
1914,8%, In 1915 and incl. Nov. 1 1919. 3%. None since.
tion for cancellation.
(2) $29 50 in cash for each bond of the par value of 500 francs, French
EARNINGS.
-For 12 months ending Juno 30:
currency payable without int. upon presentation of said bond for canVeer
s67615
Surplus.
Grass.
Net (after Tares) Interest.
cellation with all coupons subsequent to Aug. 1 1921 attached;
1921-22
:3 6
07
4
.
$666,487
-Year Income bonds of Quebec Ry., Light, 1920-21
(3) $67 00 par value of 5% 30
68,859
S74:252
101 621
681,900
For full details see V 113, P. 534,850.
Heat Sr Power Co , Ltd
ROAD.
-Cape Breton Elec.Co., 12.8 miles; Sydney & ()lace Bay. 19.3
-See V. 106. p. 2560.
Default Charged.
miles; total. 32.2 miles. Gauge. 4 ft. 8ai in. 22 passenger and 9 other
-On June 22 1918 was auth. by the City Council to sell cars. Power stations have 1.800 k.w. capac1tY•
Fare Increase.
5 tickets for 25 cents and 7 workmen's tickets for 25 cents instead of 6 and 8
0F FICERS.-Pres., A. S. Pratt; V.
-P., Frederick S. l'ratt; Sec.. Edw,
tickets, respectively, as theretofore. V. 106, p. 26.50. Effective Nov. 15
I'. Clark: Treas.. El. B. Sawyer; Gen Mgrs.. Stone & Webster Mgt. Assn.,
1919 was auth. to increase fares to 7 cents cash, with 4 tickets for 25 cents Boston: Mgr., Claude 0. C)urtis.-V 100. p. 1436; V. 102. p. 1718. V.
105.
and 8 workmen's tickets for 2.5 cents.
p. 1103; V. 106, p. 1900; V. 111, p. 1369; V. 112, p. 2536; V. 114, p. 2115.




ELECTRIC RAILWAYS

OCT., 1922.]

147:

Toronto Power Co. bonds of 1914 are guaranteed .unconditionally
principal and interest, by Toronto By. Co. They are callable at 100
and interest on any interest date on 3 months' notice. Electrical Deve100trolley road
-A
THE TORONTO R Y.
$1 per year for
which
proper- ment Co. bonds have sinking funds1316. began in 1911 of 00. cons. deb.
Of the Tor. Pow.
The Toronto Ry. Co.franchise expired Aug. 31 1921 and the
3acts electrical h. p. sold. V. 88. p.
ties were taken over by the City of Toronto on that date. Arbitra- stock $11,000,000 are reserved to retire like amount of Elec. Devel. and
the
tion proceedings are now (April 1922) under way to establish
For. Elec. Lt. bonds, and remainder is for extens. and impts. at 80% of
amount to be paid the co. by the City of Toronto.
Sink, fund began In 1913, calculated to retire whole of stock at ma-In 1)ec. 1920 the co, sold to the Hydro- emit. at 105. Int. is payable in London and Toronto. See V. 93, p. 1328.
Sale of Toronto Power Co.
(subject turity
of
Electric Power Commission of Ontario and the City the Toronto of the The Toronto Elec. Lt. bonds are red. as a whole or in part, but not less than
approval
and
to the ratification of the Ontario Government
$500.000.at 101 and int.on any int. date after July 1 1917. V. 102. p.2347.
ratepayers of the City of Toronto [approved by ratepayers in Jan. 19211
Radial Co.,
-Of Toronto Elec. Lt. Co. for calendar years:
RESULTS.
-V. 112, p. 258.) the Toronto Power Co., Toronto & York
1915.
1916.
1917.
1918.
YearPower Co. Electrical
'
Schomberg & Aurora By. Co.. Toronto &
25,844
26.531
27.510
26,616
.
Development Co., Toronto Electric Light Co. V. 113. p. 1054, 1157, Number of customers
73.935,304 71.592.832 5.931.137 51.395.537
Kilowatt hours sold
V. 115, p. 1101.
1472, 1575. See also
bonds of the
-year
The consideration will, it Is said, be $6,971,295 6% 20
PROPERTY.-Leses the Electrical Devel. Co.'s hydro-electric power
-year 6% bonds of the Hydro-Electric Power
city of Toronto; $2.375,000 20
Falls. Ont., with a total generating capacity of 140.000 h.p.
-year 5% bonds of the Hydro-Electric Power ?lent at Niagarah.p. held in reserve, and two transmission lines (4 circuits)
Commission, and $612,528 20
bonds it which 15.000
Commission,and the assumption by the Commission of the underlying
on private right of way. The Tor. Elec. Lt. Co. owns a
into Toronto
of the Toronto Power Co., $4.355.000 bonds of the Electrical Development steam auxiliary plower plant of 17,500 h. p. capacity. V. 103, p. 1987:
Co..613,558 bonds or debenture stock of the Toronto Power Co.,34.103,200 V. 105, p. 826; V. ill, p. 2050. 2141, 2333, 2432; V. 114, p. 1195. 1661.
-year 6%
5% mortgage bonds of the Electrical Development Co.. 3840,000 3
notes of the Toronto Electric Light Co.. outstanding stock of the Electrical
Developing Co., $13,100.
332,734.000
Total purchase price
BRAZILIAN TRACTION. LIGHT & POWER CO.. LTD.
22.775,177
Obligations to be assumed
9.958.822
ORGANIZATION.-Incorp. July 12 1912 in Canada with $120,000.000
Bonds to be delivered
stock for stock
. For further particulars see V. 111 n. 2.124. V. 112 n 2750; V. 113. p. ($100) auth.stock and has acquired through exchange of itsp. 175) the Rio
of the newly acquired companies (on basis shown in V. 95.
1472, 1575; V. 114, p. 855. See also V. 115, p. 1101, 1322.
Light &
-see V. 113, p. 1472.
de Janeiro Tramway Light & Power Co., Sao Paulo Tramway company
Valuation, &c.
Co., and through the first-named
ORGANIZATION .-Incorporated in 1892 and acquired by purchase the Power Co. and Sao Paulo Elec.Rio de Janeiro & Sao Paulo Telephone (70.
old Toronto City Street Railways and the exclusive privilege to work1street controls entire capital stock of
$7,503,000 6% sec. notes maturing
railways in the city of Toronto for a term of 30 years from Sept. 1891 On Aug. 3 1922 it was stated that of the
been redeemed and that the co. had
(with the exception of two small reservations in the Act which are believed Nov. 1 1922 32,000,000 had already
trustee to pay off the balance at maturbe of no importance), a privilege which has since been ratified by Act of suffIcieJt cash in the hands of the
to
the Legislature of Ontario. Owns, directly or indirectly, practically the ity. V. 115, p. 759.
entire capital stock of the Toronto & Nilmieo Rv. now the Toronto Power
Interest. Outstanding. Maturity.
Date.
STOOK AND NOTESSee text
Co.. Ltd.); Toronto & Scarboro Electric Ry.. Light & Power Co.; Metro- Ordinary. 3110.000.000
.
0
6Q-1%il $106.576.000
-10,000,000 Oct'22. 1)4
politan Ry. (In March 1919 the City of Toronto purchased the Yonge , 6 ,
)
77
( cumS10.000.000($100
ref
St. section of this company's property for 3590.000 V. 108, p. 1166), Secured notes 510.000,0001 1919 6 g M-N 1 7,500.000 Nov 1 1922
Schomberg & Aurora By.. Toronto & York Radial Ry.; Toronto Power
c.tf!Cent. Tin. Tr. Co., N. Y., Trustee.
gold ($1.000)
Co., Ltd.; Electrical Develop. Co. of Ontario, Ltd.; Toronto & Niagara
basis
-The pref. stock is cony. into common stock at any time on Pref.
Stock.
Power Co.; Toronto Electric Light Co., Ltd.' London Electric Co.. Ltd
p. 1421.
1 1-5 shares pref. stock for 1 share of common. V. 96. Common stock
(now part of Toronto & Niagara Power Co.); Mascara Falls Electrical Trani- of
exchanges.
mission Co. (N. Y.) and Niagara Falls Gas & Elec. Lt. Co.(N. Y.). In stock listed on London and Toronto stock and Brussels stock exchanges
listed on Toronto, Montreal, Boston, Belfast
Oct. 1902 stock was Increased to 37.000.000. and in April 1906 to 38.000.
1,97. p. 383
000. On Aug. 14 1911 stockholders voted another increase to 312.000,000
and also the payment of a stock dividend of $1,000,000. Stockholders
Notes.-DIrect obligation of the co. Secured by £1,028.000(36.002,067)
V.93. p. 230.
Were allowed to subscribe for $2,000,000 of the stock at par.
Rio de Janeiro Tram., Lt. & Pow. Co. Gen. M. 5% bonds due 1963.
470. On May 29 1916 the shareholders voted to increa se the stock to £514,000 ($2.501,483) Sao Paolo Tram.. Lt. & Pow. Co. Gen. M. 5%
$15.000,000 to provide funds for the financial requirements of the company
fonds due 1963. and 37.500 000 Rio de Janeiro & Sao Paulo Telephone Co.
and for necessary extensions and betterments for the subsidiary companien
7
let M. Coll. Trust 65 bonds due 1949. Additional notes may be Issued
No action was taken by the directors as to disposition of new stock. V. 'only against pledge 0 133 1-357 of the par value of additional Rio de
102, p. 2078.
Janeiro & Sao Paulo Telephone Co. bonds. Call. all or in part•on 30 days'
-As to annual payments to city, see "Supplement -of aotice. at 102 and int. during the [UNA year after issue, at 101 and int.
to City.
Payments
Int.
May 1898. Paid to city in 1919, $1.398,470; in 1918. 31,301,266; in 1917. luring the second year, and at 10034 and Int. during the third year.
$1,187,031; in 1916. 31.113,010; in 1915, 31,064,072; in 1914, 31,122.914; In at Agency Canadian Bank of Commerce. N. Y. Int. also payable in
5942,049; in 1911,$822.233;in 1910, 3727.480;In Toronto
1913, $1,089.708; in 1912,
1909. 3640,281; in 1908, 3578.995; in 1907, $542,091.
Dividends -6% is being paid on the pref. stock. First dIv. on com.-See V. 112, p. 2191.
Suit by City.
--te.hi Nov tS 1912. In 1911 and 1014, SM.. In 191A and Me.
1 L4
-The co. has temporarily defaulted the prin. 4%. In 1917, March, 1%. In 1922, Sept., 1% was paid; Dec. 1%.
Defaulted.
Bonds Temporarily
but not Int. on its 1st Mtge. 43i% bonds due Aug. 311921. owing to the
-For years ending Dec. 31:
REPORT.
small amount of money which the courts awarded It as a first payment from
Surplus.
Pref. Divs.
Total Income. Charges.
Cal. Yearsthe city on account of the purchase of co.'s properties [see above). Bond% on their bonds for the 1921
54.537,715 31,300,033 (6%)600,000 $2,637,682
holders, however, will receive 6% int. Instead of
5,395,122
1,248,320 (6°4)3600,000
7,243,443
which will lapse before the arbitration award and enables the co. to . 929
1910
period
7,273,967
1,003,038 (6%)600,000
8,877.005
make payment. V. 113, p. 1054, 1157. Aug. 1921 and Feb. and Aug.
4,819,672
(6%)600,000
832.791
6,252,463
1918
1922 int. was paid at rate of6% per ann. V. 114, p. 855; V. 115,p. 1101.
-On Oct. 10 1918 the Toronto Board of Control denied the co. per.
Fares.
LATEST EARNINGS (milreis)
-cent fare. V. 107, p. 1580. In Nov. 1920
mission to charge a straight 5
31- -Years ending Dec. 31-8 Mos. end. Aug.
it was stated that the $1,000,000 notes due Dec. 1 would be paid off at
1922.
905
192 ,832
, 7
186
maturity. V. 111. p. 2141. No later information.
,420
Gross
126,338,000 1111921,.000 170 921..000 134, 9
, Net
Interest. Outstanding Last Div. A.
78,379,000 59,136,000 95,105,000 69,990,657
STOCK AND BONDS- Date.
See text
$12.000.000
Q-J
Stock 515.000.000 ($100)-- Mackenzie; Pros • Sir
OFFICERS.
-chairman of Board. sir
2,274,360 Aug 31 1921
a434 g
First M. $4,550,000. $ & 1.1 1892
,
Rob, t nrown: Sec., J. M. Smith, Toronto.
c*)Trus., E.R.Wood,Tor..St R.13.Angus, Mont. MeTan•icr ‘1,-leon7ie• V -I. ,
$35.000 per mile
-V. 114, p. 2716; V. 115, p. 431, 641, 759.
a luterest and principal on sterling bonds payable Feb. 28 and Aug. 31
(1) Rio de Janeiro Tramway. Light & Power Co.. Ltd.
at Bank of Scotland. Lothbury, London, E. 0.
-The company Is obliged to redeem 5% of its total bond
sinking Fund.
ORGANIZAT1oN.-Incorporated under the laws of Canada In June
at par yearly from Aug. 31 1911 to 1920.
1904. Purchased the Rio de Janeiro Gas Co. and three street railway propissue by drawings
rsonds.-The first mtge. covers entire property, subject to payments due ertied (the Villa Isabel Tramway Co.,the Sao Chrlstovao Tramway (Jo. and
or controls entire 55.000,000
She city. $2,275,640 first mtge. bonds have been retired. Bonds are the Carrie Urbanos Tramway Co.) OwnsTelephone Co. (Incorp. in Cancapital stock of Rio de Janeiro & Sao Paulo
listed on London Stock Exchange.
plan, delayed by the war, of acquiring, consoliiividends.-In 1898. 4%; in 1899, 4%; in 1900. 4%; in 1901. 43i%; In ada in 191(3 to carry out the telephone enterprises). The latter co. has an
dating
1902 to 1905, incl., 5% per annum; in 1906. 634%; in 1907, 67; In 190k. auth. and developing the
coll, trust bonds (pledged as collateral
$7,500,000
6%;in 1909,634%; in 1910, 7%; in 1911. Jan., 13(%, April, 134%, July. to theissue ofnotes of the 6% 30-Arear Lt. & P. Co., Ltd.), and has acquired
3
Braz. Trac.
-year
Aug. declared a S1.000.000 stock dividend (V. 93, P. 470): Oet
1 %; In
all the shares of the Brazilianische Electricitats-Geselischaft and the prop2% In 1912; to and incl. 1917. 8% per annum. In 1918. 5%. In 1919.
erties and business of the Interurban Telephone Co. of Brazil, ComJan., 1%; March div. passed. V. 108. p. 1061, 1166, 1276.
panhia de Telephones Interestadoaes, Cotnpanhia Telephouica do Es-Operates 127.581 miles of track; 69. 7:3 and 90 lb. girder and tado de Sao Paulo, and Conmanhia Rode Telephonica Bragantina. The
ROA 0.
.
,
70..1 T rails. Owns 894 passenger cars, of which 762 are motor tri
Tramway Light & Power Co. also owns two water-power plants and
-Of Railway Co. for calendar year 1920 and 8 mont :s encling an electric-light and power plant. In 1909 purchased control of the Ferro
REPORT.
624):
Clang do Jardim Botanic° (V. 88. p. 883) and consolidated it with the
Aug. 31 1921 (report in V. 114, p.
Balance, Tramway Light & Power Co. under an operating contract. Has also acDividends
Total
Net
Gross
Calendar
-kern!'.'
Paid.
Earnings. Deductions.
tramway lines (11 miles.) The gas and electricYear- Earnings.
26 quired the Jacarepagua
deeff..$9497742q9 light franchises expires 1945, gas franchise being exclusive until 1945 and
d
3347,942 31,345.241
1.708os
'21-$5,130,432
8 m.
1.283,384
electric light until 1915, with a monopoly for public lighting until 1945.
7,909.892
1920
exclusive; the
Telephone franchise In Rio de Janeiro expires 1930 and isand are mainly
Revenue passengers in 8 mos. end. Aug. 31 1921. 135.947,869; transfers, other telephone
are perpetual or for long periods
53.086.895: in cal. year 1920, 197,346.726; transfers, 77,911,713; in 1919. exclusive See franchises211
Rio de Janeiro Tramway concessions were
V 83 o
182.377.494; transfers, 70,446,128 In 1918,
1917 until 1970 and give exclusive privileges until 1940 in
-P.. Frideric Nicholls; extended inarea of city. Franchises for distribution of electric energy
-Pros.. Sir William Mackenzie; V.
OFFICERS.
very largo
-V. 113, p. 629, 850, for lighting and power service were also extended to 1990. Concession to
Mgr., Robt. J Flembig; Sac. & Treas., J. C. Grace.
. develop power is perpetual. Both stock and bonds are listed on the London,
1054, 1157, 1472, 1563, 1575, 1773; V. 114,p. 624,855; V. 115, p. 1101,1322
Brumb and Toronto stock exchanges. V. 93, p. 528: V. 86, p. 1044:
(1) Toronto Power Co.
V. 88, p. 507. In April 1909 2d M. bonds were listed on London Stock
-In Dec. 1920 the Toronto By.sold Its Exchange. V. 88, p. 883. See description of property in V. 87. p. 97.
Sale to Hydro-Elec. Power Comm.
interest. In the co. to the Hydro-Elec. Power Comm.of Ontario and the City On Dec. 8 1911 stockholders voted to Increase autn. stock from $40,000,000
details.
-1 new
of Toronto. V. 111, p. 2333. See under Toronto By. above for$1,000,- to 150,000,000, of which 55.000,000 was offered to stockholders
Entice stock was owned by Toronto Ky.. 32.000.000 directly and
for Sold (V.93, p. 1669. 1463).
On Jan. 2 1914 created an auth. Issue of £2,000,000 557 Gen. M. bonds
000 .hrough a subsidiary company.
Toronto Power Co owns all the 54.000.000 stock of the Toronto Elec. to be used as collateral security for raising funds for capital requirements
Light Co. and 52.993.900 of the 33,006.100 common stock. 32.990.600 of when necessary. £1,023.000 have been deposited as security for the Bra-year notes'.
the $2.993.900 pref,stock and $5,014.000 1st. M.5% bonds of the Electrical 'Man Tree., Light & Power Co. 3
Development Co.
1
COOK AND BONDS-- Date. Interest. Outstanding. Maturity.
The franchise of the Toronto Elec. Lt. Co.. dated Nov. 13 1885rgives
%
Rock 550.000,000(5100)
-9-F 545.000.000 bNov.'17
the city the option of purchasing the property on Nov. 13 1919 on a basis
1963
----- 5%.See text
v'm hp fixed he arbitration, failing airreenbint as to price. on one year's renter. General mortgage £2,000,000
25,000.000 Jan. 1 1935
id
Option having not been exercised In 1919, city has no further rights of pur- first mortgage325.000.000 1905 5 g J-in Toronto. N. Y. & London.
to
mt. payable
$100. $500 and $1,000) I
chase for 20 years. The Electrical Development Co.'s franchise extends to
National Tr. Co.. Ltd.. Toronto. trustee.
1953, with privilege of renewal. Lt. Co. issued
£5,025,119 April 1958
-year 1st M
31.000,000 3
sEcond mortgage bonds (£5.- 1908 5 A-0
,„
„i cOld tio Toronto Elec.
Lu
Toronto, trustee.
266,000)(J100 and fr.500) Nat. Tr. Co., Ltd., Corn.. London, and
6% gold bonds to retire a like amount of 434% debentures due July 1 1916.
Int. at Can. Bank of
V. 102. p 2347
In Toronto, Canada. Paris and Brussels.
434%
£1.400,000 July 1 1951
On April 11 1922 holders of thebearingcons,deb.stock of 1911 voted to tardim Botanico Tramway 1911 5 34
the guaranty of
Can.,trustee
exchange their present debentures bearing same int. rate, the Toronto Ry.
mortgage S1.400.000at. Trust Co.. Ltd., Toronto,of Commerce
&c.
having
Cl Int, at offices of Can. Bank
for a like amount of debentures,prin., int. and sinking fund of but Hydro(C100)
the
In London. New York and Toronto.
unconditional guaranty as to
the
in turn guar. by the Province of
Elec. Power Commission of Ontario, V. 114. p. 1195.
b Less British income tax.
-V. 114. p. 1661. Compare
Ontario.
In
-A sinking fund on 1st M.of 1% per ann. of bonds out began or
Bonds.
sea td xt
Interest. Outste n eing. Maturity
a whole
STOCK AND BONDS- Date.
1910. The 2d M.debs. are subject to call on 3 mos.' notice as
titock $3.000.000
any part at 105; also subject to skg. fd. drawings which began the year end1941
434 M-N 14.665.773
1911
fund. Jardim Botanic° let
Tor Power Co cons deb stock British Empire Trust Co., Ltd., London
ing Apr. 1 1918; £240,881 retired by sinking mos.' notice. Sinking fund
$25,000,000 guar p & I byt Trustee. Callable at 105.
M. bonds are red at 10234 and int. on 3
Exchange. V 93,
Toronto Ry Co $ &
4.10G.000 July 1 1924 began In 1912. Bonds are listed on London Stock Ltd.• undertakes to
5 g J-J
For Pow Co gu bds 34.250.- 1914.
p 1786. Rlo de Janeiro Tram • Light & Power Co.
Co.. Ltd.. Tor.. true
& $1,00%4 Int. in N. Y.,Nat. Tr.
a sum sufficient to meet Int. and sic. fd. on Jardim
000(3100,3500
9.547.000 Mar 1 1933 put aside semi-annually
1903 5
Elec Devel (3o $10.000.
Rotanitvi bonds• V 91. p. 528
N.Y.& Lon
c Int. at Can. Bk of Own
let rntge ($500) g
1% paid Nov. 1909: In 1910. 431%. In 1911
Dieidends.-First
Tor..
1 100 000 file 1 1919
5 it J-J
Elec Lt 1st M 51.4 1916
Toronto
div.'
and to and Joel. Nov. 1917,6% per annum.
01Interest payable in N.Y. and Toronto
000,000 gold ($1.000)

TORONTO, CANADA.




148

ELECTRIC RAILWAYS

EARNINGS.
-Earnings are now included in the Brazilian Traction
Ugh & Power Co. statement.
ROAD AND PLANT.
-Operates 251.55 miles of track in business and
residential section of city and adjoining districts. Incl. scenic road, 2 45 m .
owning a hotel on Corcovado Mountain. Has 1.124 pas.senger. and 193
freight and 7 electric auto-buses and 3 locomotives
Capacity of power
stations. 84.000 h p. Company was supplying on Dec 31 1921 to City of
Rio de Janeiro and vicinity 136.639 h p in motors, 9 659 arc lamps.
1,068,864 incandescent lamps On Dec 31 1921 had 67,862 telephoto's
In service Gas sales in 1921. 47.225.100 cubic metres. On Dec. 31 1921
had 85.306 light and power consumers.
OFFICERS.
-Chairman of 13d. Sir William Mackenzie: Pros.. Sir Alexander MacKenzie; Sec., J. M. Smith: Gen. Mgr.. C. A. Sylvester. Main
office, 36 Toronto St., Toronto.
-V 94, p. 1247. 1764; V. 96. p. 1298.
(V The Sao Paulo Tramway. Light & Power Co.. Ltd.
ORGANIZATION.
-Incorporated In the Province of Ontario, Canada.
In 1899 and owns an extensive system of electric roads and electric-lighting
and power business in Sao Paulo. Brazil. Stock and bonds were listed on
London Stock Exchange in July 1905. V. 81. p. 614. In Nov 1906
authorized stock was increased from $7,500,000 to $8.500,000 (V. 83. p
1230), and stockholders were offered the $1,000,000 new stock at par.
Bee V. 83. p. 412. In 1907 purchased Santa Ana Ry.. a narrow-Range
mule line, which has been electrified. Company has securea an exclusive
30-year concession for distribution of light and power in municipality
of Bao Bernardo. On Dec. 27. 1907 shareholders increased authorized
Stock from 38,600.000 to S10,000.000. V.88, p. 53.
On Jan. 2 1914 created an with Issue of £1.000.000 5% (len. M. bonds
to be used as collateral security for raising funds for capital requirements
when necessary. (514,000 have been deposited as security for the Brazilian
frac., Light ht Power Co. 3
-year notes.
STOCK AND BONDS- Date. Interest. Outstanding. Maturftn.
Stock 110.000.000(3100)___ _ _
Q-F $10.000.0110 bNov.'17, 24
Perpetual consol debenture!
M-S 2
Perpetual
£821,917
stock issued Feb 1911_ _ lInterest payable in London and Toronto.
General Mortgage £1,000.600. -. See text
1963
5%
first mortgage $6.000.0001 1900 5 g .J-D
16. 00 00 June 1 1929
0 .0
gold ($500)
c*INational Trust Co., Ltd.. Toronto. trustee.
Less British income tax.
Stock.
-Perpetual deb.stock is redeem. at 105 on 6 mos.' notice. Trusteee
are British Empire Tr. Co.. Ltd., London. and Nat.. Tr.Co., Ltd.. Toronto.
Stock Is listed on London Stock Exchange. V.94. p. 1250.
Bands.-luterest Is payable at the Canadian Bank of Commerce In London. England, and Nat. Trust Co., Ltd., Toronto, Ont. No sinking fund
and bonds are not subject to call.
Dividends.
-In 1902, 3U%;in 1903, 5(%;in 1904. 734%;In 1905,8%:
in 1906, 8%;in 1907. 83. %; in 1908, 9
in 1909 to 1911 incl., 10%; in
1912, Jan.. 2)4%; April, 21j%: July. 234%; Oct., paid 5-6% for month
of July. 1912, in accordance with plan of amalgamation; Nov.. 234%.
In 1913 and since to and incl. Nov. 1917, 10% per annum.
BIARNINGS.-Ineluded in the Brazilian Traction statement.
ROAD.
-Operates 150.74 miles of track, all In city of Sao Paulo, 412
passenger and 107 freight cars. Passengers carried during 1921. 103.777.331, against 92.453.381 in 1920. On Dec. 31 1021 supplied 518.619
incandescent lamps and 1,42.5 public arc lamps and 53,332 h.p. in motors,
and had 54.948 light and power consumers.
OFFICERS.
-Chairman of Board. Sir William Mackenzie; Pres., Sir
Alexander Mackenzie; Sec., J. M. Smith. all of Toronto; Mgr. W 0. McOonnel,Sao Paule.-V.94, p. 1764; V. 95.9.681; V. 112.p.746; V.115. p.
1839.
(3) Sao Paulo Electric Co.. Ltd.
ORGANIZATION, &c.-Incorp. In 1910. Stock Issued, 35,000,000,
Efas acquired water powers and franchises for the utilization and sale of
electric power through the State of Sao Paulo.

[VOL. 114.

New Power Derelapinent.-See V. 113. p. 1362. 1984.
Jitney Competition Abolished.
-In April 1918 the city authorities voted
to abolish jitney service, thus removing this form of competition against
the Co.
Effective Oct. 4 1919 was auth. by the P. U. Comm. to increase forest to
6 cents cash, or 9 tickets for 50 cents. Workmen's tickets are to be sold at
5 for 26 cents and school children's tickets at 7 for 25 cents. V. 109. p.
1462. Effective Sept 1 1920 was auth by the P U. Comm. to increase
Workmen's tickets were
fares to 7 cents cash, with 4 tickets for 25 cents
abolished under this order. V. 111, p. 1085. Effective Aug. 1 1921 rates
were changed to cash fares of 7-cents week days and 5 cents Sundays,
tickets 4 for 25 cents, children's tickets 54 for 25 cents amid workmen's tickets
9 for 50 cents. Gas rates were also raised at the same time. V. 112, p. 1743.
Valuattan.-See V. 109, p. 2264; V. 110. p. 1417.
In Oct. 1920 the co. issued 13,000.000 7% cum. prof. stock, which was
subsequently offered with a bonus of 30% in corn. stock, for the purpose of
retiring a like amount of floating debt. V. 111, p. 2522. Compare
119. p. 1974: V. 111. p 590
The stockholders on Oct. 10 1921 auth. the co. (a) to enter Into an
agreement whereby It will guar. the prin. & Int. of $7,500.000 Manitoba
Power Co , Ltd.. 7% bonds, due 1941; (b) on making a power contract
under which the street railway will take power from the power co. V. 113.
p. 1676. Compare V. 113. p. 1362. 1413. 1984.
STOCK AND BONDS- Date.
Outstanding. Maturity.
Interest.
Corn stock 1 I 1.000.000 (1100)- - - - See text
11100'000
Preferred 13.000.000 1100 cum ____
3,000.000 Oct '22 1%
Q-J
Perpetual debenture stock
See text
4
A-0 2 £000000
British Empire Trust Co., London, Trustee.
First refunding M 35,000,000, 1905
14,000.000 Jan. 2 1931
5 g J-J
gold sink fund 41.0001_ _c. Int at Bank of Montreal, Montreal & N. Y.
Win El St Ry nitge $1,000.- 1898
5 g J-J
1.000.000 Jan. 1 1927
000 45001
Interest at Bank of Montreal, Montreal.
Notes payable Sept. 30 1922
855.500
Stack -The debenture stock is repayable at no fixed date, but is subjecl
to call at 105 and interest. V. 88. p 626. Listed on London Stock )f.
change. V. 91, p. 1448. Pref. stock is pref. as to assets and divs, and has
voting power
V. 111. p. 2326. 2.522.
Bonds.
-Of the 35,000,000 1st refund. bonds. $749.000 are reserved to
retire the first 5s. The Royal Trust Co., Montreal, Is trustee. The new
bonds are not subject to call, but 1
of bonds outstanding is payable to
sinking fund from 1915 to 1924, incl., and 2% from 1925 to
incl. Se::
V. 79, p 2698. $493,668 Win. El. St. Ry. 1st 5s are in sinking fund. Pb..
1934'
notes are secured by deposit of (400,000 (approximately $1.950,00(8
Winnipeg Elec. Ry. 4 1 % perpetual conaol. deb. stock.
4
Dividends.
-On pref. 1:4% quer. has been regularly paid. Paid 2)4%
guar. on corn. from Apr. 1908 to Apr. 1911. In July rate was increased te
3% guar.. which amount was paid to and incl. Jan. 1915; in April. July
and Oct. 191.5. 234% each. In 1916. Jan., 2% None paid since.
REPORT.
-For years ending Dec. 31:
YearCharges. Pref. They. Bal. Sur.
Net,
Grnss.
$365,522
'
$182,367
1921
$1.472,162
$2.020.050
15.579.430
1920
1.345.977
1.881,503
4.444
53: 25
35 805
65
5.310.400
1.323.623
1919
1.286,818
4.348.118
9
evenue passengers carried in 1921. 61,515,325, against 65.248,840 in
1920, and 58.729.317 in 1919.
ROAD.
-Operates 173.38 miles of track, including Suburban Rapid
Transit Co , and Winnipeg Selkirk & Lake Winnipeg Ry, Has 341 motor
cars and 12 trailers, 45 misc. cars. Comnleted in 1907 a 30,000 h. p.
water-power plant, which, due to impts. In 1920, has been increased te
38.000 h. p. Installed a 12.000 h. p. steam turbine auxiliary plant in 1911.
OFFICERS.-Pres., Sir Augustus Nanton, Winnipeg: V.
-P. & (len.
Mgr., A. W. McLImont: Sec., F. Morton Morse Winnipeg: Treas., J. S
Mackenzie.
-V. 111, p. 1085. 1754. 18.53, 2230, 2326, 2522: V. 112, p.
373, 746, 934, 1743. 2307; V. 113, P. 1362, 1473. 1676, 1984, 2506; V. 114.
p. 1536.

(1) Suburban Rapid Transit Co.
ORGANIZATION.
-Organized in 1902 In Manitoba. Charter giver
company right to operate the telephone and telegraph lines and to dispose
STOCK AND BONDS- Date.
Interest. Outstanding. Afaturfte
of electric light, heat and power. Franchise, 35 years from 1902 and if
Stock $10,000,600
exclusive. Winnipeg Electric Ry. controls road through ownership of
35,000.000
First mtge £2,000,600 (£500.1 1912
£2.000,000 Jan 1 1962 stock
5 J-J
£100, £20)
National Trust Co.. Ltd.. of Toronto. trust.
STOCK AND BONDS- Date.
Interest. Outstanding. Maturity
Stock 3100.000
See text
Bonds.
-Red. by a sinking fund beginning In 1922. In annual drawings as First mortgage ($1.000) g_c't 1908
5 F-A
1500.000 Jan. 31 1933
par, or may be red. at 103 at any time on 6 months' notice, or at par On
Guaranteed, principal and Royal Trust Co., Montreal, trustee.
voluntary liquidation or amalgamation with another company
The BraInterest. by Winnipeg Elec- Interest at Bank of Montreal, Montreal.
zilian Trac., L. & P. Co. agrees to set aside s.-a. out of the gross earnings of
tric Ry.
Toronto. New York or London. England.
the Sao Paulo Elec. Co. a sum sufficient to meet the int. and sinking fund,
-Additional bonds may be Issued at rate of not exceeding $20.001
Bands.
and in case the earnings should be Insufficient, to meet the same from its own
per mile additional road built
revenues. Int, payable in London. N. Y.. Toronto. at Canadian Bank
of Commerce or its agencies. Listed on London Stock Exchange. V. 95,
EARNINGS.
-For calendar year 1921. gross, $272,734; not, $48,509;
p. 1043; V. 96. p. 63.
charges, $40,740; surplus, $7,769. In 1920, gross. $233,126: net, $39,074;
charges, $35,937: surplus, $3,137.
PROPERTY.
-Hydro-electric plant of 30,000 k. w. with an ultimate
ROAD -Embraces 21.254 miles of track from Winnipeg to Ileadingly os
capacity of 50,000 k. w., WAS completed and placed In operation during
1914. Has a contract to supply the Sao Paulo Tram., Light & Power Co. the north side of Assiniboine River and beyond the City Park on the noutt
with 25.000 h. p. and supplies electric light and power In Sorocaba, 53 side of river. V. 86. p. 1345.
miles from Sao Paulo, and to the neighboring towns of Sao Roque, Una,
(2) Winnipeg Selkirk & Lake Winnipeg Ry.
Rodovalho and Mayrink. Also operates 334 miles of track i n Sorocabe•
ORGANIZATION -Incorp. by Act of Manitoba Legislature wilt
3 cars.
power to do a steam or electric railway and a lighting and power bueiness.
Controlled through ownerenip of $490,000 of Its $500.000 stock by the
Winnipeg Electric Fly. Franchises run to 1939 and 1942.
WINNIPEG, MANITOBA.
Has contract for power with Winnipeg Elec. Ity running to May 31 1924,
.Also halt contracta with Selkirk to supply power for municipal purposes and
WINNIPEG ELECTRIC RY.
with Stonewall to do a general light and power business.
ORGANIZATION.
-Incorporated In Manitoba In 1904 and is a consoll
Interest. Ous1.1000.standoloong. Maturi 1
BONDSDate.
l 19
1
dation of the Winnipeg Electric St. Ry. and the Winnipeg General Power
M & ref bonds 11.400,0001 1915
5 J-I
July
Gen
Co. Controls Suburban Rapid Transit Co. and Winnipeg Selkirk & Lake
g ($100. $500. $1.000)_cs&rINational Trust Co.. Ltd., Toronto. trustee..
Winnipeg Ry , and guarantees bonds of those companies, prin. and lot
Prior lien
400,000
5%
1932
V. 86. p. 1346: V. 101,p. 1466. Operates the entire street railway and gas
$335.000 prior lien bonds have been exchanged for Gen. M.& Ref. bonds.
business in Winnipeg,toe street railway in St. Boniface. and does the largest
Bunds.-Of the bonds reported outstand.ag. 3677.800 are pledged as ool.
part of the electric power business In those cities and vicinity. Franchises
lateral for loans to the Winnipeg Electric Ry
Remaining $400,000 Gee
either perpetual or for long terms and street railway franchise is exclusive
in Winnipeg until 1927 and in St. Boniface until 1943. City of Winnipeg M & Ref. bowls are reserved to retire the underlying issue. Guar., p. &I..
(end.) by the Winnipeg Klee. Ry. Sink. fund of 2% of bonds outstanding
may purchase the property In 1927 upon 6 months' notice at its physical
valuation (including cost of paving done by company), to be determined by plus int. on bonds in fund will retire 25% of issue by maturity. Int. payable
arbitration: after 1927 city may exercise right to purchase at the end of each at Bank of Montreal. Winnipeg. Toronto, Montreal, New York and (la
sterling at par af exchange) London. Red.. all or part. at 103 and interest.
succeeding 5
-year period on 1 year's notice
See also V. 112 p. 746.
EARNINGS -For calendar year 1921. gross, 3275.073: net, $79,63:
The co. guarantees prin. and int. by endorsement. 37,500.000 1st M.7%
charges. $94.917; def.. $15,285. In 1920, gross, $250,542: not, $77,966:
bonds series"A" of the Manitoba Power Co., Ltd. V. 113. p. 1984.
In Oct. 1913 Judge Robson, the P. U. Commissioner at Winnipeg. denied charges. $54.716: surplus. 32:3.250.
the application of the municipal power plant of Winnipeg to sell current
-Operates a line from Winnipeg on west side of Red
ROAD.
In St. Boniface without the consent of the latter city. It was held that Sell:Inc. 2234 miles, witn a branch on private right of way from River to
Middle.
the Winnipeg Electric By. supplied St. Boniface with current satisfactor- chuch to Stonewall. 17)4 miles (nlaced in opersmirn1 1915), 12 motor
20si.
1288.
ily. V. 97. p.
a nd 27 misc. cars. V. 101. D. 924. 1466: V. 106. P




OCT., 1922.1

ELECTRIC RAILWAYS

149

NEW COMPANIES.
The following furnishes a reference to the volume and page of the "Chronicle" where information oan be fotrid concerning a number of companies not represented in this issue of the "Electric Railway Section." These are chiefly ei her newly
organized companies the affairs of which have not yet advanced sufficiently far to warrant the presentation of a regular
statement regarding them, or else companies from which it has not been found possible to secure full returns.
Aberdeen (So. Oak.) RR. V. 102. p. 152. V. 113. p. 1771.
Abilene (Tex.) Street Ry. V. 111, p. 1565; V. 113, p. 847. 2817.
Algiers Ry. & Lighting Co.. New Orleans. La. V. 103. u. 238.
Alton Jacksonv. & Peoria Re'. v • 98, p 1154 1691: V 99. v 1831.
Alton & Jacksonville Ry. V. 105. p. 1800. 2454; V. 109. p. 1271.
Alton & Northern RR. V QR. p. 1691..
Altoona (Pa.) Northern RR. V. 109. P. 675: V. 111, P• 895.
Ardmore (Okla.) St. Ry.V. 103, p. 114: V. 112, p. 516; V. 115, P. 1320.
Atlanta & Carolina (Electric, Rv. V. 99. p. 118 V. 103. p. 319.
Atlanta & Fairburn RR. & Electric. V. 114, p. 408.
Atlanta & Macon Re'. V 95 p 296 618
Babylon (L. I.) R. V. 112. p. 1282.
Bahia Tramway. Light & Power Co. V. 97, p. 1897; V. 104. p. 162.
Barcelona Traction, Light & Power Co., Ltd. V. 115, p. 641, 1428.
V io6. p. 188.
lllll Co
Beech Grove md.,
Berlin (N. Fl.) Street Ry. V. 114.p. 1177.
Berwick & Nescopech Street Ry. V 98. p. 761.
Big Four Electric ity. (Cal.). V 98. p. 1765.
Billings (Mont.) Railway. Light & Power Co. V. 104. p. 2235.
Black River (N. V.) Traction Co. V. 107. p. 2187.
Boise (Idaho) Ry. V. 109. p. 72.
Boston & Eastern RR
v 98 p. 154
Brantford (Ont.) Municipal Rys. V. 98, p. 999; V. 108. p. 2449.
Bristol & Norfolk Street Rv. V. 103. p. 60; V. 105, p. 605.
British Columbia Electric Ry. V. 114. p. 301; V. 115. p. 182.
Brunswick (Ga.) & Interurban Re". V. 115. p. 1320.
Bryan (Tex.) & Central Texas Interurban Ry. V. ill, p. 1277.
Bryan College Interurban Re". V. 111, p. 989: V. 115. p. 1099.
Caldwell (Idaho) Traction Co. V. 105, p.908; V. 111, p.791.
California Eastern & Northern RR. V. 105, p. 290.
Camaguey (Cuba) Co Ltd
V. 102, p. 152: V. 103. o. 144.
Cape Fear Ry., Inc.. Fayetteville, N. C. V. 113, p.2818; V. 115, p. 1531.
Carlisle (Pa.) & Mt. Holly RR. V. 112, p.848.
Carolina Traction Co.(Rock Hill, S. C.). V. 106. P. 394.
arolina & Yalkin River Ry. V. 114. p. 1764; V. 115, p. 1209.
assville & Western lb. V. 95, p. 235.
,
ill N. Y.) Traction Co. V. 92. p. 955; V. 10$. p. 1522, 2093.
Central Texas Electric Ry. V. ill . p. 4423.
Centre & Clearfield St. Ry., Philipsburg. Pa. V. 108, P. 77.
Charlotte (N. C.) Rapid Transit Co. V. 11(), P. 1414.
Cheboygan, Mich. Electric ight Se Power Co. V 95. p. 1683.
Chicago Aurora Ec De Kalb RR. V 115, p. 1428. 1837.
Chicago Fox Lake & Lake Geneva RR. V 95 p 1402.
Chillicothe & Camp Sherman Elec. Ry. V. 107. p. 82.
City Electric Co., Albuquerque N. M. V 101. p 2071.
Clarksville (Tenn.) & Dunbar Cave Ry. V. 101 p 1972.
V 100. u 229. 900. 1672: V. 102. D. 975.
Cleburne Traction Co
Cleveland Alliance & Mahoning Valley Traction Co. V. 110. p. 1748.
V 99 p 406
Cleveland interurban RR
V 101 p 369. 448. 814.
leveland & Ohio Central Electric Rv
Cleveland (0.) Rapid Tran Ry V 99 p 1528. 1832 1909.
Cleveland & Sharon Rapid Transit Co. V. 103. p. 2340.
Cleveland & Youngstown RR. V. 105. p. 1418: V. 106, p. 2450.
Columbia Et Montour Electric Ry. V. 101. p. 1370; V. 105. p. 608.
V 95 p 297.
Columbus Kenton & Toledo Traction Co
Columbus Urbana & Western Rv V 48 13 356: V 99 p. 1214
Conwayo
(Mass.) Electric Street Re". V.113, p. 847; V.134, p.1406.
Creston (la.) Winterset & Des Moines RR. V. 95, p. 1607
Cumberland Electric Ry. V. 114. p. 2115; V. 115, p. 1837.
Dallas Northwestern Trac. Co. V. 108. p. 479; V. 113, p. 2184.
Dallas Southwestern Traction Co. V. 103. p. 1419, 1522. 1817.
V 95 p 749
Danville (Va.) Trac. & Power Co
V 98 P 1608.
Dedham (Mass.) & Franklin St Rv
Delaware & Maryland Traction Securities Co. V 104. P. 2451
Delta Light & Traction Co. V 98 p. 1814; V. 111, p. 1852.
Demerara Electric Co.. Ltd.. Halifax. V. 101. p 212. 923.
Detroit Pontiac & Owosso Ry. V 101. p. 1370: V. 107, p. 895.
Dixon (III.) Rock Falls & Southwestern Re'. V 97. p 298
Dominion Traction & Ltg Co.. Ltd Toronto V 100 p. 1751. 1917
Eastern Texas Traction Co. V. 96, p. 359. 1422; V. 109, p. 676.
Electric Properties Coro N Y.) v95 p 52ti
Electric Short Line RY., Minneapolis. V. 113. p. 1772, 1887.
Ephrata Sc Lebanon St. Ry. V. 99. p. 608; V. 113, p. 2311; V. 114,p.197.
Erie Cambridge Union Or Corry Ry. v 97 p 1583.
V. 96. P. 1156. 1228; V. 97. p. 1733
Erie & Central Pennsylvania Re'
v 97 0 l853
Erie Southern Ry
Exeter Hampton & Amesbury St. Ry. V. 111, p. 2520; V. 113. p. 1772.
4
Payetterine , C.) misfit Se Power Co. V . 9/ p 1822.
Port Scott & Nevada It.. lit., W. & P Co. V.95, p. 820.
Port Warne & Northwestern Re'. V 96. o. 1228; V. AR. p. 522. 911
Fresno Interurban Re'. V 102, p. 1625; V. 103. p. 665: V. 108. p. 78.
00.
Frontier Electric R . Buffalo N. Y. V. 106, n 1344. 10
Gallipolis (0.) & Northern Traction Co. V. 115. p. 1837.
v ;Wk. p. 1701.
rionart frazeiiin
(try &
Gary & Southern Traction Co. V. 104. p. 1387; V. 115, p. 1631.
V 98. p 1920.
§fary Street Park Sc Ocean RR
o
endale (Cal,) & Mntrose Ry. V 103. p 578.
oldsboro (N. C.) Electric Ry. V. 113. p. 1471.
flocking-Sundae' Creek Traction. V 97 p 1426: V. 99. p. 808
Hornell (N. V.) Traction Co. V. 105, p. 1309. 2272: V. 111. p. 294.
Huntington (L. I.) Trac. Co., Inc. V. 111, p. 493. 1369.
Independence Neodesha & Toyota Ry. V 97. p '299.
0
Indianapolis Chicago St Meridian Re' V 95 13 48
Intermountain Rv. Light gc Power Co. (of Colo.). V. 105. p. 1817
International Transit Co. V. 93, p. 589; V. 98. P. 1844; V. 113. p.2613.
Iola (Kan.) Electric Ry. V. 108, p. 1275; V. 109, p. 270.
V 95 P 1745
Irwin-Herminie 'Pa.) Tree Co
Jamestown Westfield & Northwestern RR. V 106, p. 2345.
04.
Kankakee (ill.) Electric Ry. V. 81, p. 725; V. 107, P• 10
Kankakee Urbana Traction Co. V. 105, p. 1104; V. 115, p. 1631.
V 112 p. 1283.
Keene (N. 11.) Electric Re'
Lacombe & Blindman Valley Elec. Ry. V. 99. p. 1597; V. 104. p. 2235
Lake Erie Bowling Green & Napoleon Elec. Ry. V. 106, p. 396.
Lake Erie & Northern Ry. V. 99, p. 1451. 1910; V. 105. p. 1898.
Lake Erie & Youngstown Ry. V.96. P.285; V. 97. p (43.
Lancaster & Southern Street Ry. V. 103. p 320 668
wiston-Clarkston Transit Co. V. 100 r). 1438
ma•tioneove Electric Light & RR. V 100. p. 2187; V.101,p.2148.
V. 99. p. 1832. V. 102. P. 522.
ima-tioneore Falls Light & RR
(Ill.)
1
45..p1 7 1. 1128.
9 7 .1
0
R
o
R
&L gi
N. . a .loenso WnV
ace;
V. 101 p. 815.
London (Can & Parr 8tisol w Rv
RR. V. 97, p. 299.
Loramie & Minster (0.) Electric

gatsk

tr




& San Diego Beach Ry. v. M.o.1999; v. 107, p. 1101.
Manhattan City (Kan.) & Interurban Ry. V. 115, p. 1321, 1631.
Marcellus (N. Y.) Sc Otisco Lake Ry. V. 111, p. 2520; V. 112. p. 562. •
Marion (0.) & Suburban Ry. V. 112, p. 62.
Martinez (Cal.) & Concord Interurban Ry. V. 103, D. 493. 844.
Medfield Sr 'Medway Street Ry. V. 97, p. 443.
Meriden Middletown & Guilford (Conn.) Electric Ry. V. 104. p. 559.
Mexican Light & Power. Ltd. V. 94. p. 1623; V. 99. p. 891.
Mexico (Mo.) Santa Fe & Perry Traction. V. 96. p. 1229. 1489..
Mexico Tramways Co. V. 103. p. 938. 1592. 2078; V. 105, p. 389.
Miami (Fla.) Traction Co. V. 112. p. 162: V. 113, p. 2311.
Michigan Elevated Ry. V. 110, p. 2487; V. 113, p. 2819.
Milwaukee Western Electric Ry. V. 102. p. 888; V. 104. p. 1045.
Minneapolis Anoka & Cayuna Range RR. V. 101. P. 449.
Minnesota Central Rv. V 99. p. 197
Monterey (Mex.) Ry., It. & Pow. V. 113. p 533. 1251. 2313.
Montgomery Transit Ec Light Co. V. 109, p. 1080; V. 110. 4). 2386.
'Noose Jaw (Sask.) Elec. Ry. V 100. p. 228
Morgantown (Va.) interurban Ry. V. 112. P. 1024.
Morgantown & Wheeling Ry. V. 106. p. 1344. 2011.
Mountain Lake Electric RR. V. 106. U. 1797.
Mount Vernon (O.) Electric St. Ry. V. 104. p. 1489; V. 106, D. 86.
Muscatine (la.) & Iowa City Ry. V. 101, p. 1714.
Newark & Marion Rv. (N. Y).V. 101 p 370.
New Brunswick Power Co. V. 104. p.952: V. 112. p.744; V. 115, p.1321
New Orleans Sc Grand Isle Traction. Light & Power. V 46. ro. 015
New York & North Jersey Rapid Transit Co. V. 95. P. 298.
New York Westchester Er Connecticut Traction Co. 17 98.p. 1761
North Alabama Traction Co. V. 112, p. 563: V. 115, p.645.
V 101 p. 1371. 1718
North Branch Transit Co
Northumberland County Traction Co. V. 105. D. 2185; V. 106,P. 396
Norton Taunton & Attleb. St. Ry. V. 110. p. 1290; V. 113. p. 183.
Norwood Canton & Sharon St. Re'. V. 109. p. 371; V. 110. P. 1290.
Nuaces Re'.(f.tsas). V. 114, p. 2360.
Ocean Shore RR., Calif. V. Ill. p. 1552. 2'111.
cdensburz(N. Y.) Street Rv. V. 103, p. 494; V. 115, p. 869.
Ohio Service Co. V. 103. P. 2341; V. 105. P. 607, 2273; V. 113. p. 2819.
Oklahoma Union Railway. V. 104, p. 864.
Orleans-Kenner Traction Co. V. 106, p. 1462.
Parkersourg W. Va.) 5c Ohio Valley Elec. Ry. V. 108. p. 2434.
Pelham Park Rv. V 93. p. 1669. V. 95. p 48.
,
Penn Van Sc Lake Shore RN. V 99. p. 49: V. 105, p. 1420.
Phoenixville Valley Forge & Strafford Electric Ry. V. 115, P. 1429.
Piedmont Railway & Electric. V. 105. p 2185.
Plymouth (Mass.) & Sandwich St. Ry. V. 111,p. 389. 494.
Point Pleasant (N. J.) Trac. Co. V. 111,p. 793.
Portland & Oregon City Ry. V 101. p. 2072; V. 104, p.257.
Portsmouth Electric Ry. V. 109, p. 73.
Pottstown & Phoenixville Ry. V. 114, P. 2580; V. 115. p. 309, 544.
Public Service Co of Oklahoma. V 98. P. 1773
Puebla Tramway Lt. & Pwr. Co. V. 111, p. 295. 390, 1370.
Railway & Light Securities Co.(Boston). V. 106. p.500: V. 109.P. 1.080.
Reno(Nev.) Traction Co. V. 109. p.2172; V. 110. p.360; V.111. p. 15671
Richmond & Fairfield (Electric) Ry. V. 111, p. 589.
Richmond (Va.) & Raooahannock River Re'. V. 107. D. 1193.
Rochester-Corning-Elmira Frac Co
V 95 p. 176; V. 97. p. 1427.
Rockford (ill.) City Traction. V. 115, p.645.
Sacramento Valley Electric RR. V. 95. P. 680.
St. Francois County Ry.. Farmington. Mo. V.91,0. 519; V 96. P. Win
St. John (N. R. Ry. V. 102. p. 1061: V. 104. p. 560. 864. 953.
St. i.01/iS Sc Relleville Elec. Rv. V 53, p. 1690; V. 107, p. 1482.
St. Lou s & East St..Louis Electric Ry. V. 112. p. 2414.
St. Louis East Side Belt Line Termitial Ry. V. 103. p. 939.
St. Louis. Lakewood & Grant Park Electric Ry. V. 106, p. 1901.
Southern Electric Ry. V. 105, p. 1420, 1523; V. 106_, P. 1231.
St.
st. Tammaity & New Orleans Re's. & Ferry Co. V 101. p. 775.
San Diego & Southeastern Ry. V. 105, p. 2095; V. 106. p. 397. 1281.
San
lose Terminal Ry. V 94 p. 1120; V 95. p. 1208 1333.
Santiago (Cuba) F.lec. Lt. & Trac. Co. V. 95. p. 1157; V 106. D. 1037.
Sapulpa (Okla.) Electric interurban Ry. V. 113. P. 2508.
Electric Ry. V. 113, p. 1773; V. 114, p. 1767.
s
Sharon Mass.) ‘..anton Er Norwood Street Rs
.haron
, V. 105, P. 2095.
.
shelburn Falls & Colvain St. Re'. V. 92, p. 189; V. 107. P. 1482.
Shenandoah Traction Co. V. 107. p. 1102.
:Sioux City (la.) Crystal Lake Ec Home Electric Re'. V. 106. IL 1578.
.outly...'stern Ohio Rv. (Zanesville, 0.). V. 112, p. 63.
S
Illinois 5c St. Louis Re'. V 98, P 388.
Southern Oregon Tract' n Co.. Medford. Ore. V. 101. p. 214.
Southern Traction Co.(Bowling Green, Ky.). V. 105. p. 1722.
Southern Traction Co. of Illinois. V. 110. p. 466. 2488.
S
.outhern Trac. & Pow. Co.. Alexandria, La. V. 101p. 214.
South Shore (L. I.) Trac. Co. V. 105. p. 1803. 2185; jr. 107, p. 182.
South western interurban Re'., Winfield, Kan. V. 107, p. 2478.
SpringfieLl & Central Illinois Traction Co. V 95. o 1425.
Sorinzfiell (0.) & Washington Ry. V. 114, p. 2550; V. 115, p. 74.
Stockton Terminal .& Pastern RR V. 101 p 1372: V 103. p.
Sunbury & Selinsgrove Electric RR. V. 113. p. 294. 536.
gc Susquehanna Rv
V al o. 1824: V. 102. p. 252.
Tiffin & Fostoria Rv. V. 115, p. 74, 1322.
Titusyill.(Pa Trac. Co. V 91. p 271 1.)11:V 108.p 716:V 112.p 1618
Toronto Suburban Ry. V. 114, p. 199, 308.
Trans St. Mary a Traction Co.. Mich
V. 104, p. 1146.
Trenton (N. J.) Lakewood Se Seacoast Ry. V. 106. p. 1345. 1462.
Trinidad Electric Co.. Ltd.. Port of Spain B. W. I. V. 106. p. 1462.
Tulsa (Okla.) Street Ry. V. 112, p. 563; V. 115, p.761.
Twin City Light Se Traction Co
V 99. p 4518. V. 100, P. 1598.
r win Pan. (Idaho) Ry
v 95 P 581 1504.
Tygarts Valley Traction Co. V. 113. p. 2313. 2615.
Tyler City Tex. Light Sc RV. V 97 11 445
11,40n T-1+11 Cn
V 111.1). 2019.
-T•intown W Va
$11,
United Prooerties Co. of Calif. V. 113, o. 418; V. 115. P. 1840.
Valdosta (Ga.) Street Ry. V. 113, p. 1055; V. 115. p. 438. 1633.
Washington Electric Ry. V. 96, p. 555, V. 106. p. hid2.
Washington Sc Great Falls Ry. & Power Co. V. 98 p 489
Washington Spa Springs & Oretta RR
V 101,o. 1808
Washington. Westminster & Gettysburg RR. V. 95, P. 177.
Waukegan Rockford Se Elgin Trac Co. V. 106. p. 2012.
Waverly Sayre & Athens Traction Co. V. 109, p. 372: V. 111,p. 1086.
Waycross (Ga.) Street St Suburban Ry. V 104. p. 2453: V 105. V.1806.
Wichita-Walnut Valley (Kan.) Interurb. Ry. V. 106. p. 823.
Piectric Co
v 97. 0 1435
Wisconsin interurban RY. V 105, p. 182. 717; V. 115, p. 1101

150

INDEX TO RAILWAYS

[VOL. 115.

GENERAL INDEX.
Page
Page.
Pais
Aberdeen (So. Dak.) RR
149 Barcelona Traction. Light & Power Co
149 Bucks County Interurban Ry.—See Penn. Millen° (Texas) Street By
149 Star Harbor El. Lt. Co.—See Bangor By.& El. 9
sylvania-New Jersey By
9$
Adamstown & Mohnsville Electric Ry.—See
Bar Harbor & Union River Power Co.—See
Buffalo Bellevue & Lancaster Ry.—See InterReading Transit & Light Co
Bangor By & ii:i Co
121
9
national Ry
20
Adrian Street Ry
95 Barre & Montpelier Trac. at Pow.—See MontBuffalo & Depew Ry.—See Depew & LanAgamenticus Electric Light—See Cumberland
pelier & Barre Light & Power
9
caster By. Corp
2III
County Power & Light Co
117 Bartlesville Gas & Electric
96 Buffalo Dunkirk & Western HR.—See Buffalo
Akron Wadsworth & Western Ry.—See North.
Bath St. Ry.—See Androscog.& Kenneb.Ry-118
& Lake Erie Traction Co
.... ___ ..-.- 19
Ohio Tract. & Light Co
2 saton Rouge Electric Co__ ._ ._
10 Buffalo Gardenville & Ebenezer Ry.—See
Alabama City Gadsden & Attalla St. By
49 Bay City Gas Co.—See Consumers Power Co 51
Erie County Traction Corp
29
Alabama Trac.. Lt. & P.—See "Railway &
Bay State Street Ry.—See Eastern MassaBuffalo Ham. & Aur. Ry.—See Erie County
Industrial" Section.
chusetts Street By. Co
13
20
Traction Corp
Alameda Oak Park & Pled. El.—See San Fran.
Beaumont Trac. 00.—See Eastern Tex. Elec. 10 Buffalo St Lackawanna Traction Co
19
Oakland Terminal Rye
98 Beaver Co.Light Co.—See Duquesne Light Co115 Buffalo & Lake Erie Traction Co__ __ ___ __ _ 19
Albany Ry.—See United Traction (Albany)— 2 Beaver Valley Traction
114 Buffalo Lock-port & Rochester Ry.—See RochAlbany Southern RR
3 Bedford Lt.. Ht. & Power.—See Interstate
ester Lockport & Buffalo Ry
123
Albla Light & Railway
•
3
Public Service Co
60 Buffalo & Lockport St. Ry.—See Inter. Trac_ 20
Alfred Lt.& Power(Jo.—See All. Sh. By
64 Beech Grove (Ind.) Traction Co
149 Buffalo & Niagara Fails Electric By —See inAlgiers Ry.& Ltg. Co.. New Orleans
149 Bellaire South Western Trac. Co.—See Wheelternational Railway
20
Allegheny & Bellevue—See Fed. St. & Pl. V 113
ing Traction
116 Buffalo Ry.—See International Railway
20
Allegheny Belle. & Perrysville By
113 Belt Line By. Corp
90 Buffalo South. Ry.—See Erie Co. Trac.ror a_ 28
Allegheny Co. Lt. Co.—See Duquesne Lt. Co_115 Ben Avon & Emsworth St. By.... ____ . _ . _113
.._ _
ctr'c
Allegheny St.—See Federal St. & Pleas. Val 113 Bennington Elec. Co.—See Twin State G.& E. 14 Buffalo Tonawanda & Niagara Palls Ele
BR.—See International Traction..20
Allegheny Traction
114 Bennington Water Power Co.—See Twin State
Buffalo Traction.—See International Ry_ _-.... 20
Allegheny Valley St Ry.—See West Penn.Rys.115
G. & E Co
14 Buffalo & Williamsville Electric By — ......— al
... — -----..
Allentown El. L & P.—See Leh. Val
_ 3 Benton Harbor-St. Joe Ry.& Lighting
10 Burlington Elec. Lt.& Pow_....
8
1
Allentovrn & Kutztown.—See Allentown &
Tran_Bergen Turnpike Co
82 Burlington County By —See Burl. Co T..., , . 78
Reading
4 Berkshire Street Ry
78
84 Burlington County Transit no.
Allentown & Reading Traction Co
Berlin (N. H.) Street By
4
149 Burlington GiL9 Light 0o.—See South Janes
,
Allentown dc Slatington—SeeLehlith Val. Tran. 3 Berwick & Nescopeck Street By
GM. Electric & Traction Co
149
31
Allentown Bridge Co.—See Lehigh Val. Tr.Co. 3 Beth.& Nazareth—Soo Leh. Val. Transit_ __ .Burlington (Iowa) By. & Light Co.—See
Alliance Electric Ry.—See Stark Elec. RR_ . 4 Beverly & Danvers—See Eastern Massachus- 3
United Utilities Corp
211
Alton Granite & St. L. Trac. Co.—See East it.
etts Street Railway Co
13 Burlington (Vt.) Traction__ _ _ ._._______ _
21
Louis & Suburban Co
45 Biddeford & Saco Railroad
10 Butler Railways Co
21
Alton Jacksonville & Peoria
149 Big Creek Lt. & Pow.—See Coast Counties
Butte Electric By
21
Alton & Jacksonville By..
Gas & Elec. Co
149
130
Alton & Northern RR
149 Big Four Elec. By
149 Cadillac Gas Lt. Co.—See United Lt. & Rirs 54
- Alton By. Gas & Elec. Lt.—See East St. Louis
adillac Water & Light Co.—See Consumers
Billings (Mont.) By.. Light & Power Co ._A49
& Suburban Co
45 Biloxi El. By. & Power Co.—See Gulfport &
Power Co_
_
51
Alton R.& Ill.—See E. St. Louis & Sub. Co_ 45
Miss. Coast Tract. Co
56 Cairo City Gas Oo—See Cairo rii. & Lt. Co.... 23
Altoona & Logan Valley Electric By.
104 Binghamton Lest.& Union—See Bing. Ry
10 Oalro Bloc. & Trac.—See Cairo fly. & Light_ 23
Altoona Northern RR
149 Binghamton Railway no
10 Cairo By.& Lt Co
23
American Cities Co
86 Birdsboro St. Ry.—See Reading Tr. & Lt
Cairo & St. L By
23
American Railways Co_
Co
_103
.
121 Calais(Me I Street Railway_ ____ ____ .___ ._ 21
Amesbury & Hampton—See Massachusetts
Birmingham Ensiey & Bessemer Ry.—See
Caldwell (Idaho) Traction Co
149
Northeastern Street Ry
Birmingham Tidewater By. Co
149
57
•
11 California Eastern & Northern RR
Anacostia & Potomac River RR.—See Wash.
Birmingham Knoxville & Allentown TracCalifornia Pacific Ry.—See Pac. Elec. By__ _ 69
• Ry. & Electric
tion—See Pittsb.& Birmingham Tr
-Oak. Term. By 98
-139
113 California Ry.—See San Fran.
Anderson Water. Light & Power Oo.—See
Birmingham Railway & Electric—See BirCalifornia By. & Power
128
Southern Public Utilities Co
mingham Ry. Lt. & Power
26
127
11 California Street Cable
Androscoggin Electric Co.
118 Birmingham By Lt.& Power
28
11 Calumet Elec. St. Ry.—See Cal. dc So. Chic
Androscoggin & Kennebec By
28
118 Birmingham-Tidewater By. Co
11 Calumet & South Chicago By
Anniston Electric & Gas Co.—See "Railway
Black River N. Y.) Traction Co
149
149 Camaguey (Cuba) Co. Ltd
& Industrial" Section.
Bleecker St.& Fulton Parry RR
82
88 Camden Gloucester & Woodbury By
Annapolis Public Utilities Co—See Wash
Bloomfield Street—See Pittsb. Trac. System_114 Camden Horse RR.—See Camden & Suburban 82
Bait.& Annapolis
141 Bloomington Decatur & Champaign RR
23 Camden Inter-State Ry.—See Ohio Val.E1.14105
Annapolis Short Line—See Wash. Bait. &
Bloomington & Normal By. El. & Heating Co.
82
Camden & Suburban By
Annapolis Elec. RR
—See Bloom & Norm. R.& Lt
141
145
23 Canadian Lt. & Pow
Ardmore (Okla.) Street. By.
149 Bloomington & Normal By. & Lt. Co
23 Canal & Claiborne RR.—See N 0 Ry.& Lt.. 85
Ardmore (Pa.) Street Ry
114 Bloomington Pontiac & Joliet Elec Ry
62 Canandaigua El. Lt.& RR.—See N Y St Rye 123
Ark'. a.. trilley Intertroae By ...
_
142 Blue Grass Trac. Co.—See Ky.Trac.& Term- 67 Cana:vile RR.00.—See N. Y. Consol. RR
18
Arkansas Valley By.. Light & Power Co.—See
Blue Hill Street By
•
21 Canton-Akron Cons. By
2
Southern Colorado Power Co
120 Blue Ridge Elec. Co.—See Georgia Ry.& Pow. 6 Canton-Akron Ry.—See Can.-Akr. Cons. By. 2
Asbury Park & Sea Gist HU —See Amami •
Boise & Interurban Ry.—See Boise Valley
Canton-Massillon Electric Ry.—See CantonCoast Electric By
Traction Co
5
Akron Cons. By
11
2
Aehaway & Westerly Ry. Co —See Shore Line
Boise (Idaho) By
149 Canton-New Philadelphia Ry.—See CantonElectric Rs
,
85 Boise Valley Traction Co
Akron Cons. Ry
11
2
Asheville Electric Co.—See Asheville Pow. &
Bordentown Electric Co
80 Cape Breton Electric Co
_1441
Light Co
120 -Bcriton & Chelsea RR
14 Cape Fear Ry
149
Asheville Power & Light Co
120 Boston & Eastern RR
149 Cape May Del Bay & Sewell's Point RR --.... 21
Ashland (Wis.) Light. Power & Street R.—
Boston Elevated Ry
11 Capital Traction
140
See Ironwood & Bessemer By. & Lt. Co
Carbondale Ry.—See Scranton By
61 Boston MIL & Brock.—See Eastern Massa105
Ashtabula Rapid Transit
chusetts Street Railway Co
5
13 Carbon Transit Co.—See Mauch Chunk &
Atchison By.. Light & Power
23 Boston & Northern St. Ry.—See Eastern MasLehighton Transit Co
72
Athens Elec. Ry.—See Athens Ry. & El. Co._ 95
sachusetts Street Railway Co
13 Carlisle (Pa.) & Mt. Holly RR
149
Athens Railway & Electric Co
95 Boston & Revere Electric
14 Carolina Power dc Light Co
129
Athol & Orange St. Ry.—See Northern Mass.
Boston Suburban Electric Companies—See
Carolina Traction Co. (Rock Hill. S. 0.)_149
Street By
56
Suburban Electric Securities Co
12 Carolina & Yadkin River By
149
Atlanta & Carolina Ry
149 Boston & Worcester Electric Companies .
14 Cascade El. Lt. & Power 00.—See Twin State
Atlanta Consol. St. RR.—See Ga Ry & EL_ 6 Boston & Worcester Street Ry
Gas & Electric Co
14
14
Atlanta Gas Light Co.—See GS- Ry. & Elec
6 Boyerstown & Pottstown St. Ry.—See ReadCascade Light & Power Co.—See Twin State
Atlanta & Fairburn RR. dc Electric
149
ing Transit & Light Co
Gas & Electric Co
121
14
Atlanta & Macon By.
Cass Ave. & Fair Gr. Ry.—See United Rye.03125
149 Braintree & Weymouth St. Ry.—See Eastern
Atlanta Northern Ry.—See Ga. By.& El. Co. 6
Massachusetts Street Ry. Co
13 Cassville & Western Rs;
149
Atlanta St. RR.—See Ga. Ry. & Elec. Co..
Catharine & Bainbridge Ste. By
6 Braintree St. Ry.—See Eastern Massachusetts
108
Atlanta Water & Elec. Pow Co.—See Ga. By.
Street By. Co
13 Catskill (N Y.) Traction Co
14.
& Power Co
6 Brantford & Hamilton Ry.—See Dom. P &
Cayuga Lake El. Ry.—See Ithaca Traction— 41
Atlantic Ave. RR.—See Bklyn. Rapid Tran_ 15
Transm Co
143 Cedar Rapids & Iowa City By. & Light Co.—
Atlantic City & Ocean City Co.—See Atlantic
Brantford Municipal Ry
See Iowa By. & Light Co
149
21
City & Shore Co
8 Brattleboro Gas Light Co.—See Twin State
Cedar Rapids & Marion City Ry
58
Atlantic City & Ocean City RR.—See Atlantic
Gas & Electric Co
14 Central Arkansas By. & Light Corp.—See
City & Ocean City Co
6 Brazilian Traction, Ligtijt & Power
Federal Light & Traction Co
90
147
Atlantic City & Shore Co
6 Bridge Operating Co —See Bkiyn. R Tr. Co_ 15 Central California Traction Co
136
Atlantic City & Shore RR.—See Atlantic City
Bridgeport (Conn.) Trac.—See Conn. By. &
Central Crosstown RR.—See New York Rys_ 87
& Shore Co
Light Co
6
84 Central Electric Co.—See Somerset Union &
Atlantic & Sub.Ry.—SeeAtI.City& Shore Co. 6 Bridgeton Elec.—See Am. Rye. Co (Phila.)_103
Middlesex Lighting Co
81
Atlantic Coast Electric Ry
5 Bridgeton & Mily. Tr.—See Am. Rys. Co...._ _103 Central Georgia Power On
71
Atlantic Coast Elec. Lt. Co.—See Atlantic
Bridgewater Whitman & Rockland St Rv.—
Central Ill. Lt. Co.—See Commonw. P. Corp- 51
Coast Electric By
See Eastern Massachusetts Street By. Co
Illinois Public Service (.10
5
13 Central Indiana Ltg.—See
72
Atlantic Shore Line Ry.—See Atl. Shore Ry _ _ 64 Bristol & Norfolk Street Rv
Inter-State Public
149 Central
Atlantic Shore Hy
Service Co
64 Bristol & Plainville Electric
15
60
Auburn & Northern Elec. RR —See Empire
Kentucky Trac. Co.—See Kentucky
Bristol & Plainville Tramway (Conn.)—See
Central
State Railroad Corporation
Traction & Terminal Co
Bristol & Plainville Electric
136
15
87
Auburn & Syracuse Electric RR
137 British t 'olinuela Electric it)
,
149 Central Market St. Ry.—See Col.Ry.,PALt- 36
Aug. & Aiken Rv.—See Augtota-Aiken By
Broad Ripple Traction . _ _ ___ .._ . _____
60 Central Mississippi Valley Electric Properties- 64
dr Electric
Central New York Southern RR. Corp.—See
8 Broad Ripple Natatorium.—Bee Union TracAugusta-Aiken Ry & Elec. Co
Ithaca Traction Corporation
8
tion Co. of Indiana
5
81
Augusta (Me.) Hallowell A Glrainer RR —
fl'way & 7th Ave RR
88 Central Park North & East River RR.—See
See Androscoggin & Kennebec Ry
Belt Line Ry. Corp
118 Broadway Surf RR.—See R'y & 7th Ave.RR. 88
90
Augusta (Ga.) By. & Elec. 0o.--qie Augusta
Brockton Bridgewater & Taunton St. By.—
Central Passenger Ry.—See Central Traction-114
Aiken By. & Elec
See Eastern Massachusetts Street Ry.Co_-- 13 Central Pennsylvania Traction Co.—See Har8
Augusta Winthrop A nardiner Ry.—See
firtwklate A East, Bridgewater St.
risburg Railways
57
Androscoggin & Kennebec Rv
By.
Eastern Massachusetts Street By no_ - .118
Central
13 Central Ry.—See United Railways & Electric- 8
Aurora Elgin & Chicago—See Chicago Aurora
Brockton & Plymouth Street Ry.—See PlymRailway—See Peoria Railway
2
& Elgin
27
outh & Brockton Street Ry
14
117 Central Texas Electric By
Aurora Elgin & Fox River Electric Co
27 Brockton Street Ry.----See Eastern MassachusCentral Traction
114
a ow.. Pialufield & Joliet, KY -- - -...
etts Street By. Co
62
13 Centre & Clearfield Street By
149
Austin (Texas) Street Ry_
8 Bronx Traction Co
90 Chambersburg & Gettysburg Electric By
23
Brooklyn Bath & West End RR.—See B. R. T. 15 Ohambersburg Greencastle & Waynesboro St.
fitabyloe (L.I.) RR
149 Brooklyn & Bright. Beach—See Bklyn. R. T 15
Ry.—See Potomac Public Service Co
56
"Aden & St. L. RR.
--Si e United Rye Co_- 125 Brooklyn Cable Co.—See Nassau Electric_ — 19 Charleroi & West Side Ry.—See United Trac.
Bahia Tramway. Light & Power no
149 Brooklyn City & Newtown RR.—See Coney
Co. of Pittsburgh
113
Bakersfield & Kern Elec. Ry.—See San
Island & Brooklyn
19 Charleston City Ry.—See Charleston ConsoliJoaquin Lt. & Pow. 0.irp
48 Brooklyn City RR.
dated Railway. Gas & Electric
15
28
Baltimore & Annapolis Short Line—See Wash
Brooklyn Crosstown RR.—See Brooklyn R.T. 15 Charleston Consolidated Ry., Gas & Electric—
Bait. & Annapolis Elec. RR
141 Brooklyn Heights RR.—See Brooklyn R T.._ 15
See Charleston Oonsol. Ry. & Ltg Co
26
Baltimore Catonsville & Ellicott's MIMI Pass
Brooklyn & No.River RR.—See Third Av.By. 89 Charleston Consol. By. & Lighting Co "
28
RR.—See United Rya. & Elec Co
8 Brooklyn Queens County & Suburban RR.—
Charleston-Isle of Palms Traction
26
Baltimore Halethorpe & Eikridge Ry _ -- — - 9
See Brooklyn Rapid Transit
15 Charleston Interurban RR
26
Baltimore & Northern Electric Ry.—aee
Brooklyn Rapid Transit.15 Charlotte Elec. Ry.—See Southern Pub. UHL 26
United Rye. & Elec. Co
8 Brooklyn Union Elevated—See N Y. Consol. 18 Charlotte Electric Ry., Light & Power Co.—
Bait Sparrows Point & Chesapeake Ry.._ _ ._ 9 Brownsville Avenue Street Ry.—se Pitts &
,
See Southern Public Utilities'Co_
26
firm Traction no__ __ --.------ _113 Charlotte (N. C.) Rapid Transit Co
Baltimore Term. On.—See Wa-h. Bait.& Ann.141
149
Baltimore Traction—See United Rye & Elec. 8 Brunswick (Ga.) & Interurban By
149 Charlottesville & Albemarle By
27
Brunswiek rr.w .4.., {. intle Service R..
Baltimore & Washington Transit—See Wash81 Chattanooga Elec. Ry.—See Ohatt. Ry.& Lt- 79
ington & Maryland By
140 Brunswick & Yarmouth Ry.—See AndroChattanooga Gas Co.—See Un. Lt.& Rye. Co. 54
Bamberger Electric RR_
scoggin & Kenn,
126
her Ry
118 Chattanooga Rye. Co.—See Chatt. By. & Lt.. 79
Bangor Power Co.—see Bangor By.& El— 9 Bryan (Tex.) & ()antral Texas Inter. By
149. Chattanooga Railway & Light._
79
Bangor By.& Electric Co
9 Bryan College Interurban
149 Chautauqua Traction Co
62




OCT., 1922.]

INDEX TO RAILWAYS

151

Pope.
j'eu,.
Pap.
De Kalb County Gas Co.—See Ill. No. Util.Co. 43
119 Colorado Springs Liget & Power Co.—See
Cheboygan Electric Light & Power Co
United Gas & Electric Co
Chester & Eddystone—See Wilmington &
93 De Kalb-Sycamore Elec.—See Union By.. Gas
105 Colorado Springs Light, Heat & Power Co —
Philadelphia Traction Co
& Electric
52
See United Gas & Electric
Chester Darby & Phila.—See Wil. & Ches.Tr _106
93 De Kalb Sycamore & Interurban Trac.—See
Columbia Canal Co.—See Columbia By. Gas
Union Ry., Gas & Electric.
Chester & Mettle Elec. Ry.—See Wil. & Ob.es52
& Electric Co
- _ -._____ _ - - - _ _ _ __ _106
ter Traction_ _ _
35 Delaware County & Philadelphia Electric Ry_106
107 Columbia (S. C.) Elec. St. By., Light & Power
Delaware & Maryland Trac. Securities Co
Chester & Philadelphia Ry
149
—See Columbia Ry.. Gas & Electric
Chester Street Ry.---See Wit. & Cues. Trac ._ _106
35 Delta Light & Traction Co
149
Chester Traction—fie Wil. & Otlt)i Tree Oo .106 Columbia & Montour Electric By
149 Demerara Electric Co., Ltd., Halifax
149
Columbia & Montour Elec. Co.
Denison & Sherman Ry.—See Texas Elec. By.. 40
Cheyenne Light, Fuel & Power Co.—See West--See Lehigh
97
Power Securities Corp
ern Light & Power co
3 Denver City Tramway.—See Deny.Tram.Co. 41
149 Columbia Ry.—See Wash. Ry. & Elec. Oo
Chicago Aurora & De Kalb RR
139 Denver Consol.Tram.—See Denver Tram.Co. 41
27 Columbia (S. C.) By., Gas & Elec. Co
Chicago Aurora & Elgin Corp
35 Denver & Inter-Mountain
42
27 Columbia By., Gas & Elec. Securities Co.—
Denver & Northwestern By
Chicago Aurora & Elgin RR
41
See Col. By. Gas & Elec. Co
Chic. Bloom. & Decatur ity.—See Blooiniug35 Denver Realty Co.—See Denver Trans. Co_.... 41
23 Columbus Buckeye Lake & Newark Traction
Denver Tramway System
Decatur & Champaign
ton
41
—See Columbus Newark & Zanesville
27
Chicago City & Connecting Railways
41
37 Denver Tramway Co
28 Columbus Delaware & Marion Elec. RR.—See
Chicago City Railway
Denver Tramway Pow. 0o.—See Denver
Col. Delaware & Marion Elec. Co
29
Chicago Comet. Traction—See Chicago Rye
Tram Co
41
38
Chicago & Desplaines Val.—See Am. Rys. Co.103 Columbus Delaware & Marion Elec. Co
38 Denver Tramway Terminals 0o.—See Denver
Chicago Elevated Railways
30 Columbus Delaware & Marion Ry.—See CoTramway Co
41
lumbus Delaware & Marion Electric Co .. _ 38 Depew & Lancaster Ry. Corp
149
Chicago Fox Lake & Lake Geneva
20
Chicago & Interurban Traction
28 Columbus Ed. Co. —See Col. Hy.. P.& Lt. Oo. 36 -Des Moines & Central. Iowa Electric Co
24
Chicago & Joliet Electric Ry
Des Moines, Central Iowa RR_
104 Columbus (Ga.) Electric Co.—See Columbus
42
Electric & Power Co
Chicago Junction RR
31
42
35 Des Moines City By.
Chicago Lake Shore & South Bend Ry
72 Columbus Electric & Power Co
35 Des Moines Electric 0o.—See Des Moines &
Chicago North Shore & Milwaukee RR
Central Iowa Electric 00
28 Columbus Grove City & Southwestern Ry.—
24
Chicago & Oak Park Elevated Ry
See Indiana Columbus & Eastern
31
37 Des Moines St. RR.—See Des M. linty Ry... 42
Chicago Ottawa & Peoria Ry
24 Columbus Interurban Terminal On
37 Des Moines Sub. Ry.—See Des M.City Co— 42
Chicago Railways Co
29 Columbus Kenton & Toledo Traction
43
149 Detroit Almont & Northern RR
Chicago South Bend & Northern Indiana Ry..133 Columbus London & Springfleid Ity.—See InDetroit Electric Ry.—See Detroit United By.. 42
Chicago Surface Lines
diana Columbus & Eastern
27
37 Detroit & Flint.—See Detroit United By.-- 42
Chicago Union Traction—See Chic. Rye. Co
29 Columbus Magnetic Springs & Nor. By
41 Detroit Fort Wayne & Belle Isle Ry.—See
Chicago & West Towns By
Detroit United Ry _ - __.....,29 Columbus Marion & Bucyrus By. Co
42
72
Chicago & West.—See Chic. City & Con. Rye. 27 Columbus New Albany & Johnstown Trac. Co. 38 D 4rolt & Highland Park RR.—See Detr ,it
Chillicothe & Camp Sherman Electric Ry........149 Columbus Newark & Zanesville Elec. By...... 37
United By
42
Chippewa Vail. Ry. Lt. & Pow.—See WisconColumbus & Ninth Ave. RR.—See N Y. Rye_ 87 Detroit Jackson & Chicago
43
sin-Minn. Lt. & Pow. Co
66 Columbus Northern Ry.,Power & Equipment.
Detroit & Lake St. Clair Ry.—See Detroit &
Choctaw Power & Light Co
—See Columbus Delaware & Marion El. Co_ 38
..
Line By
Port Huron Shore. 43
71
Christiana & Coatesville Street Ry.—See
Columbus Power 00.—See Colum. Elect. Oo. 35 Detroit Monroe & Toledo Short Line Ry
43
Lancaster Co. By. & Lt. Co
66 Columbus(Ga.) HR.—See Columbus Elec. Co 35 Detroit & Northw.—See Detroit United By.... 42
Christopher & Tenth Sta. RR
149
_ 89 Columbus Ry.—See Oulum By., P & L 00_ 36 Detroit Pontiac & Owosio By
Cincinnati & Hamilton Electric.—See CincinColumbus Railway. Power & Light Co_.
36 Detroit & Pontiac Ry.—See Del. United By.. 42
nati & Dayton Traction Co
43
38 Columbus Sr Ry.—See Ool By..Pow.& Lt. 36 Detroit & Port Huron Shore Line
Cincinnati Covington & Erlanger.—See CinDetroit Ry.—See Detroit Electric By _ _ __ - - - 43
Columbus Traction Co.—See Col. By. Pow.
clunati Newport & Covington
& Lt.Co36 Detroit Rochester Romeo & Lake Orion.—See
39
Cincinnati & Dayton Traction Co
Detroit & Flint By_
43
38 Columhus Urbana & Western Ry _ . r _ _ _149
Cincinnati Georgetown & Portsmouth RR__..., 31 incernonwealth Power. B. & Light On .___ 50 Detroit United By.(with map)
42
Cincinnati & Hamilton Elec. 0o.—See CinDetroit Ypsilanti Ann Arbor & Jackson Ry.—
Commonwealth Avenue St. Ry.—See Eastern
cinnati & Dayton Traction Co
Massachusetts Street By. Co
See Detroit Jackson & Chicago By
43
38
13
Cincinnati & Hamilton Traction Co
Dighton Somerset & Swansea Street Ry.—See
32 Commonwealth Power Co.—See CommonCincinnati Lawrenceburg & Aur. Elec.St. RR.. 31
Eastern Massachusetts Street By. Co_ - _ - — 13
wealth Power Corp
51
Cincinnati Milford & Blanchester Traction.... 32 Commonwealth Power Corp
51 Dixie Terminal Co.—See Cincinnati Newport
Cincinnati Newport & Covington Lt.&Tr.Co__ 39 Oommouwealth Power CO. of NoOr4,isa.—See
39
& Covington
Cincinnati Street By
149
Lincoln Traction Co
32
68 Dixon Rock Falls & Southwestern By
Cincinnati Traction Co
143
Dominion Power & Transmission Co_
32 Compton Heights Union Depot & Merchants'
Ctn.& Westw'd RR.—See Ind.& Cin.Trac.00- 60
Terminal Ry.—See United Railways Co-- —125 Dominion Traction & Lighting Co., Ltd
149
Oinniminson Elec. Light Power & Heating
Concord Maynard & Hudson Street Ry
56 Dover (las Light Co.—See Twin States Gas &
Co.f
Riverton N. J.
14
Electric Oo
80 Concord Street Ry
38
Cities Service Co
58
94 Coney Island & Brooklyn RR
19 Dover Somersworth & Rochester
Citizens' Electric Co.—See Somerset Union &
Coney Island & Gravesend—See Bklyn R. T_ 15 Doylestown & Willow Grove By
107
Middlesex Lighting Co
81 Conestoga Realty Co.—Se Lancaster County
Dry Dock East Broadway & Battery RR..-.... 90
Citizens Elec. Light. Heat & Power
Ry. & Light Co
80
44
66 Du Bois Electric & Traction Co.
Citizens' Elec. Lt. & Power—See Inter-State
Conestoga Traction—See Lan. Co. By. & Lt. 66 Duluth Street Ry.—See Duluth-Superior Trac. 44
Public Service Co_
60 Connecticut Company.
44
83 Dubuque Electric Co
Citizens' Elec. St. Ry.—See Massachusetts
Connecticut Light & Power—See Connecticut
Duluth-Superior Traction
44
Northeastern Street Ry
By. & Lighting Co
57
84 Dunkirk & Fredonia RR.—See Buffalo & Lake
Citizens Elec. Ry. Lt. & Pow.—See Richland
Connecticut Ry. & Lighting.
19
Erie Traction Co
84
Punlic Ser. Co.
96 Connecticut Valley Street By
115
55 Duquesne Light Co
Citizens' Gas & Elec. 00.—See Union By..
rIonnellsville Suburban Street Ry.—See West
114
Duquesne Traction
Gas & Elec. Co
Penn Railways Clo
52
96
Durham Public Service Co
Citizens' Gas & Fuel.—See United Gas & ELOo.93 Conchohocken Ry.—See Schuylkill Val.Trac. 115 Durham Traction Co.—See Durham Public
Citizens' Pass. Ry.—See Harrisburg Rys____ 57 Consol. Elec. Light Co. of Maine.—See Cum-122
96
Service Co
Citizens' Pass. Ry.. Norristown—See Schuylberland County Power & Light Co
117
kill Valley Traction
122 kyeusolidated Gas-Co. of Pittsburgh
33
115 past Cleveland Ry.—See Cleveland By
Citizens' Pass. Ry. (Phila.)
108 ionsolidated Lt.. Fit. St Power Co.—See Amer.
a-Jastern Massachusetts Street Railway Co
13
Citizens' Ry.& Lt. Co.—See Tr -City Ry.&Lt. 54
Rys Co.__ _ _
119
103 Eastern Pennsylvania Rys. Co
Citizens' By., L. & P. Co.—See Newp. News
Consolidated Railway Co.—See Conn. Co
121
83 Ea3tore Power & Light Corporation
& Hemp. Ry.. G. & E. Co
57 Consolidated Ry.& Power—See Utah Light & . Eastern Texas Electric Co
10
Citizens' Street Ry. (Indianapolis, Ind.)—See
Traction__
149
126 Eastern Texas Traction Co
Imilanapolis Street By
59 Consolidated Lighting Co.—See Montpelier &
Eastern Wisconsin Electric Co
132
Citizens' street RR.—See Memphis Street By. 72
Barre Light & Power Co
&
9 Eastern Wisconsin B. Light Co.—See EastCitizens' Street Ry. (Muncie. Ind.)—See
Cons. Seem. & I mt. Co.—see Den. Tram. Co.. 41
ern Wisconsin Electric Co
132
Union Traction of Indiana
5 Con. Sub. St. Ry.—See West Penn Rys. Co 115 East Jersey St. Ry.—See Public Service By.... 81
Citizens'Traction
114 Oonsoitiataxi Tractiou of New Jersey
114
•82 East McKeesport Street By
Citizens' Traction Co., 011 City
consolidated Traction of Pittsburgh, l'a
_100
14
114 East Middlesex Street By
Citizens' Water & Light—See Inter-State PubConsumers Light. Heat & Power Co.—See
East Newark Gas Light
80
lic Service Co
United Electric Co. of New Jersey
60
80 East Reading Elec. Ry.—See Reading Trac 121
City Electric On.. Albuquerque, N M
Consumers' El. Lt. & Pow. Co.(New Orleans) 91 East St. Louis Light & Power Co.—See East
_149
City Electric By. (Port Huron. Mich.)__See
Consumers' Power Co
St. Louis & Suburban Co
45
51
Detroit & Port Huron Shore Line
43 Consumers' Water & Light Co
45
24 East St. Louis & Suburban Co
Electric Ry. (Rome. Ga.)—See Rome
City
C•mtinental Passenger Ry
108 East Shore & Suburban Ry.—See San FranRy. & Light Co.....
124 Conway (Mass.) Elec. St. By
cisco-Oakland Terminal Rys......98
cooley Egypt & trout Jia St. Ry.—See Lehigh149 East Side Traction 00.—See N.Y.State Rys..123
City & Elm Grove RR. Co.—See Wheeling
Public Service Co
Valley Transit_
121
4
3 Easton Consolidated Electric Co
City Gas Co.—See Norfolk Ry.& Light
123 Corning & Painted Post Street liv__ ___ . _._ _ 39 Easton Palmer & Bethlehem Elec. Ry.—See
City Light & Trac. Co. (Sedalia. Mo.)
96 Corry-Deavitt-Fros0 Electric Co.—See Mont4
Easton Consolidated Electric
pelier & Barre L.-& P.Co
City Railway (Dayton, Ohio) Co
40
9 Easton & South Bethlehem Trans. 0o.—See
City Ry. of Im Ang.--See Los Any. Re. Corn 70 Cortland County Traction
Easton Consol. Electric tio
4
County Traction Co. (Chicago)—See Chicago 39 Eau Claire Gas Light Co.—See Wisc.-Minn.
City & Suburban Gas Co.—See West Virginia
& West Towns By..
Utilities Co
121
(6
Light & Power Co
29
Crawford County Railways Co
City t Suburban Ry—See United Italiways a
Edison Elec. Co.—See Lan. Co. By. & Lt.— 66
8 Creston Winterset & Des Moines RR __ _ _.. 46 Edison Electric Illuminating—See Paterson &
Eluetric Co of Baltimore
-149
City It Suburban Ry.—SeePort.Ry..L.SzPow.118 Crosstowu St. Hy.(Buffalo)—See Inter. By..- 20
81
Passaic Gas & Electric
• City St Suburban Ry.—See Wash. By.& El..-139 Crosstown St.—See Columbus Ry.,P.ScLt. 00. 36 Edison Electric of New Orleans.—See New
Clairton Street Ry
115 Crown Point Elec. Co.—See Inter-State Pub
85
Orleans Railway & Light Co
lie Service Co
Claremont(N. El.) By & Lighting Co
A21
87
60 Eighth Avenue RR
Clarksville (Tenn.) & Dunbar OM By
149 Cumberland County Power & Light do
20
117 Electric City Ry.—See Internat. Ry. Co
Clehur,ie Traction Oo_ .....149 Cumberland Electric Ry
105
Electric Co. of N..1
Cumb3rland (N. C.) By. & Power Co.—See149 Electric Devel. Co.—See Toronto Power Co...147
Cleveland Alliance & Mahonlng Valley Trac..
..149
Cape Fear Ry, Inc
Cleveland Berea Elyria & Oberlin Ry.—See
149
149 Electric Properties Co.(N Y.)
Cleveland Southwestern & Columbus
33 Cumberland & Westernport Electric By. Co... 96 Electric Short Line By......
149
Cleveland & Chagrin Falls By
34
108
Electric Traction (Philadelphia, Pa.)
Cleveland & Eastern Traction
34 Dallas Electric Term.—See Dallas By. Co-.. 39 Elgin Aurora & Southern Traction.—See AuCleveland & Elyria RR.—See Cleveland South.
alias Interurban Terminal Association.—
27
rora Elgin & Chicago
western &(Reunions RR
See Dallas Railway Co
33
39 Elizabeth Plainfield & Central Jersey.—See
Cleveland Electric Ry.—See Cleveland By... 33 Dallas Northwestern Traction Co
82
United Street By
149
Cleveland Elyria & Western--See Cleveland
Dallas Power & Light Co
40 Elizabeth & Raritan River Street Ry.—See
Southwestern & Columbus Ry_
33 Dallas Railway Oo
82
United Street By
39
Cleveland & Erie By. Co
50 Dallas Southwestern Traction Co
83
149 Elizabeth & Trenton RR
Cleveland Interurban RR
149 Danbury (Conn.) & Bethel Street Ry
40 Elizabethtown & Florin Street Ry.—See LanCleveland & Ohio Central Electric By
149 Danville Champalger& Decatur By.& Lt. Co- 21
caster County By. & Light Co
66
Cleveland Painesville & Ashtabula RR
34 Danville & Eastern Illinois Ry
45
24 Elmira Water, Light & Railroad
Cleveland Painffiville & Eastern RR
34 Danville & Northern.—See Deny.St. By.& Lt. 21 El Paso Electric Co
45
Cleveland Railway Company
33 Danville & Southeastern By
21 El Reno Interurban Ry.—See Oklahoma Ry ..100
Clevelanci Rapid Transit Rv
Danville (Ill.) Street By. & Light
149
24 Elwood Electric.—See Union Trac. of Indiana.. 5
Cleveland & Sharon Rapid ransit Oo
149 Danville Va.) Traction & Power Co
149 Elyria Grafton & Southern.—See Cleveland
Cleveland & Southwestern Traction Co.—See
Danville Urbana & Champaign Ry
33
South Western & Columbus Ity_
21
33 Darby Media & Chester Ry.—See Phila. R.T_106 Elyria & Oberlin.—See Cleve. S. W.& Col
Clear...land Southwestern & Col. By
33
33 Darby & Yeation St. By
Cleveland Southwestern & Columbus Ry
108
107 Empire Passenger By
149 Dayton Covington & Piqua Traction
Cleveland & Youngstown RR
40 Empire State Railroad Oorporation___ __ _ _136
Clifton Suspension Bridge—See Internat. By.. 20 Dayton & Northern Traction 0o.—See Indiana I
Englewood Gas & Electric—See Gas & Elec35
Columbus & Eastern
Clinton Street By
81
tric Co. of Bergen County
37
72 Dayton & Soldiers' Home RR.—See City Ry.. 40 Ephrata & Adamstown Ry.—See Lancaster
Coal Belt Electric Ry. Co
66
Coal Castle Electric Ry.—See R. Penn. Rys.._119 Dayton Springfield & Urbana Electric Ry.—
County Ry. & Light Co
See Ind.(Mum & Eastern....
130
•
Coast Counties Gas & !Use. Co
149
_____ 37 Ephrata & Lebanon Street By
Dayton Springfield & Xenia Southern
Coast Counties Light & Power Co.—See Coast
41 Equitable Coke Co.—See Philadelphia Co_ —111
130 Dayton (0.) Street Ry.—See City By
149
Counties Gas & Electric
40 Erie Cambridge Union & Corry By
127 Dayton Traction.—See Ctn. & Dayton Tree
149
Coast Valleys Gas it Electric Co
35 Erie & Central Pennsylvania Ry
Dayton & Troy Electric
20
Coeur d•Alene & Spokane Ry.—See Spokane
41 Erie County Traction Corp
& Eastern Ry. & Power Co..
_133 Dayton & West. Trac
41 i Erie Electric Motor Co.—See Buffalo & Lake
2 Decatur Gas & Elec.—See Decatur By.& Lt _ _ .!4 , Erie Traction Co__
19
Cohoes Ry.—See United Traction Oo
Erie gvild T,,,,,o Co—See Buffalo Ac Lake
Decatur Railway & Light Co_
Colorado Springs Electric Co.—iee United Gas
24
on9 Decatur Tree.& Elec.—See Decatur By.& Lt _ 24
& Electrie
Erlo TrA .r.bot 00 _ ..._,
3
19
,
n.-Icy.-_ -- 46
Colorado Springs & Interurban Ry
35 Dedham (Mass.)& Franklin Street Ry
149 Erie Tra tion Co.—See NOrthw:Pen-




152

INDEX TO RAILWAYS

Page.
Brie Southern Ry
149
Escanaba (Mich.) Traction Co
46
Essex & Hudson Gas Co
80
Eureka Street Ry
46
Evanston Ry
30
Evansville & East. Elec. Ry.—See Evansville
& Ohio Rv. on
46
Evansville Electric Ry.—See Commonwealth
Power Corp
51
Evansville Gas & Electric Co.—See Commonwealth Power Corp
51
Evans. Heed. & Owensboro—See Ev.&O.Ry_ 46
Evansv. LightCo.—See Commonw.Pow.Corp. 51
Evansvio, a ,I I Vii. Mitie. tty. —see Eva..
ville & OIVO RYS. Co..
46
Evansville & Oiiiii Valley itv _ ___ _ _--_
46
Evansville & Princeton Traction Co.—See
51
Commonwealth Power Corp
Evansville Public Service Co.—See Common51
wealth Power Corp
Evansville & Southern Indiana Traction Co.—
51
See Commonwealth Power Corp
gvaarwill. a la.i. i r.a s 4 -voae.... it - . 46
Evansv. Term. Ry.—See Evans. & Ohio Val.
Ry. Co
46
Everett Ry. & Electric.—Bee Puget Sound
Power & Lt. Co.
131
Everett Ry. Lt.& Water Co.—see Puget Sound
Power & Lt. Co.
131
149
Exeter Hampton & Amesbury St. By
Weir Haven & Westville RR.—See Conn. Co.. 83
1 airmont&C1arksburgTrac.Co.—SeeMonon-47
gahela Valley Traction
Fairmont & Mannington Traction.—See
47
Monongahela Valley Traction
Fairmount Park & Haddington Pass. Ry.—
See Hestonville Mantua & Fairmount
108
Fairmount Park Transit Co..
106
Farmington Street Ry.—See Conn Co
83
Fayettevide (N. C.) Light & Power Co
149
Federal Light & Traction Co
90
Federal Street & Pleasant Vailey By
113
Felicity & Bethel RR.—See Cin. Georgetown
& Portsmouth
31
Ferries & Cliff House Ry.—See Market St. Ry.128
Findlay Hu eet Ry.—See Toledo Bowling Green
& Southern Traction
137
Fishkill Electric Ry
47
Fitchburg & Leominster Street Ry
47
Flint Gas Co.
--See Consumer Power Co
51
Flushing & College Point Elec. Ry.—See N. Y.
& Queens Co
69
Fonda Johnstown & Gloversville RR.—See
"Railroad and Industrial" Section—
Fond du Lac St. Ry. & Light.—See Eastern
Wisconsin Electric Co
132
Forest City Street Ry.—See Cleveland lfy_-..- 33
Fort Dodge Des Moines & Southern RR.--Ilee
"Railway and Industrial" Section.
Ft. George & Eleventh Ave RR
89
Fort Pitt Traction—See Consol Trac.(Pitts.).114
Fort Scott & Nev. Lt.. Ht.. W.& P .0o
149
Fort Smith Light & Traction Co
47
Fort Wayne & Decatur Traction Co
41
Fort Wayne Marion & Buffton Ty. Co.—
See Indiana Service Corp.
47
Fort Wayne & Northern Indiana Traction
—See Indiana Service Corp.
47
Fort Wayne & Northwestern By
149
Fort Wayne Power Co.—See Indiana Service
Corp
47
Fort Wayne Traction Co.—See Indiana
Service Corp
47
Fort Wayne Van Wert & Lima Traction Co_
37
Fort Wayne & Wabash Valley Trac. Co.
—See Indiana Service Corp
47
Forty-Second St. & Grand St. Ferry RR
89
Forty-Second St. Manhat.& St. Nich. Ave. By. 90
(0.) & Premont Ry.
48
Fox River Valley Electric Co.—See Wisc.
Tract.. Light, Heat & Power Co
74
Framingham Southboro & Marlboro Street
Ry.—See Boston & Worcester St. Ry
14
Framingham Union Street Ry.—See Boston &
Worcester Street Ry
14
Frankford & Southwark Phila. City Pass. Ry_108
Frankford Tacony & 14°1mi...burs Ry _ __ __ 110
Franklin Water, Light & Power—See InterState Public serviee_
60
Frederick Gas & Electric Co.—See Potomac
Public Service Co
56
Frederick & Middletown RR.—See Potomac
Public Service Co
56
Frederick RR.—See Potomac Pub. Serv. Co.. 56
Freeport By. & La. Co.—ate tn. Nor. UGH.
Co
43
Freeport Ry., Light & Power Co.—See Ill.
43
Nor. Utilities Co
49
Fresno City Ry.—See Fresno Traction Co
149
Fresno Interurban By
49
Fresno Traction Co
Fries Mfe. & Pow. Co —See So Peb.17til Co. 26
Front & 5th St. Ry.—See Read. Tr. & Light 121
-149
Frontier Electric Ry
Frostburg Eckhardt & Ournborland Elm Rv.
—See Cliteboviand & Westernnnrt El. Rv_ 96
Frostburg Illuminating & Mfg. Co.—See Po56
tomac Public Service Co
15
Fulton Elevawd—daa Bruatitya Bawd l'ran

Fostoria

GaineevIlle By.& Pow.00.—See Georgia By.
& Power Co

e

Galesburg Gas & El. Co.—See Galesb. By.
24
Ltg. & Pow. Co
Galesburg & Kewanee Electric By
64
Galesburg & Western RR
75
Galesburg Railway Irigntiow & Power Co
24
Gallipolis (0.) & Northern Trac. Co
149
Galveston Elec. Co.—See Galv.-Hous. El. Co_ 49
Galveston-Houston Electric Co
49
Galveston-Houston Elec. Ry.—See GalvestonHouston Elec Co_
49
Gardner Westminster & Fitchburg St. Ry.—
56
See Northern Massachusetts Street Ry
Gary Connect. Rye—See Gary St. By. Corp_ 49
149
ary
Gary & Hobart Traction
149
Gary & Southern Traction Co
Gary & Interurb. Ry.—See Gary St. By. Corp. 49
Gary Street Fiv.—See Gary Street Ry. Corp.._ 49
49
Gary Street Railway Corporation
49
Gary & Valparaiso
81
& Electric Co. of Bergen County
Gas
Gas Light Co. of New Brunswick—See New
81
Brunswick Light, Heat & Power
149
Geary St. Park & Ocean RR
'
General Gas & Electric Co.—See Railway &
Tudiuitriar Section.
taeneva Seneca Falls & Auburn RR. Co.. Inc— 49
Georgetown & Lexington Traction Co.—See
87
Kentucky Trac St Term
Georgetown Rowley & Ipswich—See Eastern
13
Massachusetts Street By.
etown & Tenallytown Ry.—See Wash.
139
Ge y & Elec
Rrg
.




Page
Georgia-Carolina Invest. Co.—See AugustaAiken By.& Elec. Corp
8
ieorgia-Carolina Power Co.—See AugustaAiken By.& Elec. Corp
8
Georgia Elec. Light Co.—See Ga. By.& Elm_ 6
,leorgia Light Power & Railways
71
Georgia Railway & Electric Co
6
Georgia By.& Power Co
6
Germantown Passenger Ry
108
Glendale & Montrose Ry
149
Glens Falls Sandy Hill & Ft. Edward Street
RR —See Hudson Valley By..
3
Globe Street Ry.—See Eastern Massachusetts
Street Ry.
13
Gloucester Essex & Beverly—See Eastern Massachusetts Street Ry.
13
Gloucester & Rockport.—See Eastern Massachusetts Street Ry.
13
Gloucester Street By.—See Eastern NIa.ssaehiasettst Street By
13
Gars Falls Litch. & Hud.—See Man. Trac.
Light & Power
71
Goldsboro (N. C.) Electric By. Co
149
Goshen South Bend & Chicago RR.—See Gary
Street Ry. Corp
49
Gough Street Ry.—See Market Street Ry__ -128
• trafton & Upton Rii,.—See Milford & Ilibrirlite St. Re
73
Grand Rapids Ed. Co.--SeeConsum.Pow.Co_ 51
Grand Rapids Grand Haven k Muskegon Ry. 54
Grand Rapids Holland & Chicago Ry.—See
Michigan RR
51
Grand Rapids Holland & Lake Michigan By.
—See Or Rapids Holland & Chicago Ry
51
Grand Rapids-Muskegon Power Co.—See Consumers Power Co
51
Grand Rapids Railway
52
Grays Harbor Ry & Light Co.—See Federal
Light si Traction Co
so
Green Bay Gas & Electric Co.—See Wisconsin
Public Service Corp
55
Green Bay Frac. Co.—See Wisc. Pub. Ser. Co_ . 5
7
,
Greene & Coates Sts. Philadelphia, Pass. Ry_108
Greenfield Deerfield & Nortaampton St. By.
—See Connecticut Valley Street RY
55
Greenfield & Turner's F.!.. m•reet Ry.—See
Connecticut Valley Street By.
55
Greenpoint & Lorimer St.—See Bidyn. Rapid
Transit_
15
Greensboro Electric Co.—Des North Carolina
Public Service Co
56
Greenville
-Carolina Power Co.—See Southern
Public Utilities Co
26
Greenville Spartanburg & Anderson Ry.—See
Piedmont & Northern Ry
27
Greenville (S. 0.) Traction Co.—See Southern
Public Utilities Co
26
Greenwich AG Schuyiersville Electric RR.—See
Hudson Valley Ry
3
Greenwich Tramway Co.—See Connect't Co.._ 83
Groton & stonington St. Ry.—See Shore Line
Elyrt rie lie
• 98
Gulfport & Mississippi Coast Traction Co_.
56
Guthrie-Edmond Ry.—See Oklahoma By.. -100
Co.—See
Hackensack Gas & ElectricCounty
& Electric Co. of Bergen

Gas
81
Hackensack GAS Light Co.—See Gas & Electric Co. of Bergen County
81
Hagerstown & Booasboro Ry.—See Potomac
Public Service Co
56
Hagerstown & Frederick Ry.—See Potomac
Public Service Co
56
Hagerstown & Myersville Ry.—See Potomac
Public Service Co
56
Hagerstown & Northern Ry.—See Potomac
Public Service Co
56
Hagerstown L. & H. Co of Wash. Co.—See
Lehigh Power Securities Corporation
3
Hagerstown Ry.—See Potomac Pub. Serv. Co. 56
Halifax Electric Trarnway.—See Nova Scotia
Tramways & Power Co
143
Hamburg Ry. Co.—See Buff.& L. Erie Trac
19
Hamilton,()at., Power, Light & Tr Co.—See
Deminion Power & Transmission Co
143
Hamilton Elec. Lt. & Pow. Co.—See Dominion Power & Transmition Co.
' 143
Hamilton Grimsby & Beansville Ry.—See
Dom. Pow & Trans Co.
143
Hamilton & Lindenwald Electric Trans.—See
Cincinnati & Dayton Traction
38
Hamilton St. Ry.—See Dom. Power & T Co 143
Hammond Whiting & East Chicago Ry
28
Hampton & Langley Field Ry.—See Newport
News & Ramp. Ry., Gas & Elec. Co
57
Hampton Roads Trac. Co.—See Newp. News
& Hampton Ry.. Gas & Electric Co
57
Hanover & McSherrytown Street Ry.
57
Harrisburg Electric Service Co.—See United
Gas & Electric Corporation
93
Harrisburg Lt., fit. & Power—See Harrisburg
Light & Power
93
Harrisburg Light & Power Co
93
Harrisburg & Mechanicsburg Electric Ry.—
See Valley Railways Co
57
Harrisburg Railways
57
Hartford Manchester & Rockville Tramway.
—See Connecticut Co_
8'3
Hartford & Springfield Street By
137
Hartford Street Ry.—See Connecticut Co...... 83
Harwood Electric Co.—See Lehigh Power
Securities Corporation.
3
Rattiest), Tr. Co.—See Meridian Lt.& Ry Co, 96
Havana Electric Ry. (Cuba).—See Havana
Electric Ry., Light & Power.
144
Havana Electric Ry. Light & Power Co
144
Haverhill & Amesbury Street Ry.—See New
Flainpshire Electric Railways...57
Havervill & Andover.—See Eastern Massa13
chusetts Street Ry. Co.
.
Haverhill Georgetown & Danv.—See Eastern
13
Massachusetts Street Ry. Co
Hazleton Steam Heating Co.—See Lehigh
3
Power Securities Corporation
58
Helena Light & Railway Co
Henderson Trac. Co__ ____
46
Herkimer Mohawk Ilion & Frankf. Elec. By.
—See New York State Railways
123
Hestonville Mantua & Fairmount Pass. Ry....-108
Flocking-Sunday Creek Traction
149
Holyoke Street By
58
Honolulu Rapid Transit & Land Co
144
Hoosac Valley Street Railway.—See Berkshire
Street Ry.
84
Hoosick Falls BR—See Berkshire Street Ry
84
Hoosiek Falls Illuminating Co.—See Twin
States Gas & Electric Co
14
Hoosick Falls Electric Co.—See Twin States
Gas & Electric Co
14
Hornell (N Y) Traction Co
149
Rot amines St. Rv —see(lent. krk. fly Ar Lt. 90
Houghton County Gas & Coke Co.—See Michigan Gas & Electric Co
61
Houghton Coutity Gas & Electric—See Michigan Gas & Electric
61

[VOL. 115.
Page.
Houghton County Street By. (Mich.).—See
58
Houghton County Traction Co
58
Houghton County Traction Co
Houston Elec. Co.—See Galv.-Hous. Elec. Co. 49
94
Houston Gas & Fuel Co
Houston Lighting & Power Co. (1905).—See
86
American Cities Co
80
Hudson County Gas Co
101
Hudson River & Eastern Traction Co
Hudson River Traction Co.—See N.J.& Hud82
son River By. & Ferry Co
3
Hudson Valley By
46
Humblidt Transit Co.—See Eureka St. Ry
Huntington & Charleston RR.—See Ohio
105
Valley Electric Ry Co
149
Huntington (L. I. Traction Co
Idaho-Washington Light & Power Co.—See
133
a The Wash. Water Power Co. System
25
Illinois Central Traction Co
43
Illinois Northern Utilities Co
Illinois Power Co.—See Commonw. Pr. Corp_ 51
23
Illinois Traction Co. (with map)
IllinoisValleT Gas & Electric.—See" Railway &
Industrial • Section.
Illinois Valley By. Co.—See Chicago Ottawa
24
& Peoria
149
Independence Neodesha & Topeka By
Indiana Northern Traction Co.—See Union
5
Traction Co. of Indiana
37
Indiana Columbus & Eastern Traction Co_ _
Indiana Public Service—See Inter-State Public
60
Service
65
Indiana Rye. & Light (Kokomo)
Indiana Ry.—See Chicago South Bend &
133
Northern Indiana Ry
Indiana Service Corp.
47
Indiana Union Traction Co.—See Union Trac.
a
Co. of Indiana
Indianapolis Chicago & Meridian By
149
Indianapolis & Cincinnati Traction Co
60
Indianapolis Coal Trac. Co.
--See Terre Haute
Ind. & Eastern
59
Indianapolis Columbus&Southern Traction Co. 36
Indianap. Crawfordsv & Danv. Eiec Ry
59
Indianapolis & Eastern Ry. Co.—See Terre
Haute Ind. & East Traction Co.
59
Indianapolis & Greenfield Rapid Transit—See
Terre Haute Indianap. & Eastern Trac. Co._ 59
7)
Indianapolis & Louisville Trac. Ry
Indianapolis & Martinsville Rapid Transit Co_ 59
6
Indianapolis Newcastle & Eastern Trac. Co
Inclisma,p Newcastle & Toledo El. Ry.—See
a
Ind Newc. & East. Trac. Co
Indianapolis Northern Traction Co.—See
a
Union Traction Co. of Ind
Indianapolifi& Northwestern Traction Co— _ - 59
Ind. Shelbyville & Southeastern Traction Co.
50
—See Ind. & Ctn. Traction Co
Indianapolis & Southeastern Traction Co.—
60
See Ind. & Cin. Traction_
59
.
Indianaocais Street Ry.
Indianapolis Trac. & Term. Co.—See Indian59
apolis Street Railway
133
Inland Empire RR. Co.
Interborough Rapid Transit Co.—See "Railway and Industrial" Section.
Inter-Mountain Ry.—See Denver & Inter42
Mountain RR
Inter-Moontain Ry.,Lt.& Pow.Co.(of Colo.)149
20
International Railway
20
Internat. Trac. Co.—See International By
.._149
International Transit Co.(Sault Ste. Marie)
134
Inter-State Consolidated Street By
60
Inter-State Public Service
109
Inter-State Railways Co
Inter-Urban Ry. (Des Moines)—See Des
42
Mines & Central Iowa RR
82
Interurban Ry. & Terminal Co
149
Iola (Kansas) Electric By.
Iowa City Gas & Elec. Co.—See Tr -City By.
54
& Light Co
Iowa City Lt. & Pow. Co.—See Tri-City By
& Light (Jo.
54
Iowa & Illinois Ry. Co.—See Tr -City Ry.&Lt.54
21
Iowa Railway & Light Co
21
low, sooth .im ITriiltfes Co__
61
Ironwood & Bessemer By.& Lt
149
Irwin-lierminie Traction Co
61
Ithaca Street Ry —See Ithaca Trac. Corp
61
Ithaca Traction Corp
7sckson Consolidated Traction Co.—See
52
10 Mich United Rye
Jackson & Battle Creek Traction Co.—See
-- 52
Michigan United Bye
Jackson Gas Co.—See Consumers Power Co. 51
Jackson (Miss.) Lt. & Trac. Co.—See Jackson
61
Public Service Co
61
Jackson (Miss.) Public Service Co
61
Jackson (Tenn.) By. & Light Co
Jacksonville (Fla.) Elec. Co.—See Jacksonv.
81
Traction Co
meksonville Gas, Light & Coke Co.—See
25
Jacksonville Ry. 8i Light Co
61
Jacksonville (Fla.) Traction Co
Jacksonville By.& Light Co
25
15
i ,iti.dca xi Itrooklyn KR—See B R. T
Jamestown Street Ry.
62
tatnistown Westfield & Northwestern RR_
149
Janesville(Wis.) Traction Co.—See Union By..
Gas & Electric
52
Jardie Botta,iico Tramway—See Brazilian Trac.
Liyht & Power Co
147
Jefferson City Light. Heat & Power.
25
Jefferson Division—See Penn. & Ohio Trac.
6
Co.
Jefferson & Lake Pontchartrain By. Co.—See
New Orleans Ry. & Light Co
85
Jersey Central Traction Co
65
Jersey City & Bergen RR.—See Cone.Trac.Co. 82
Jersey City Harrison & Kearney By. Co.—
See Consolidated Traction of New Jersey
82
81
Jersey Oity Hob. & Pat.—See Pub. Serv. Ry
Johnstown Pass. Ry.—Bee Johnstown Trac
62
Johnstown Traction Co
62
Joliet KR—See Chicago & Joliet Electric fly. 104
62
Joliet & Eastern Traction
110
Joplin & Pittsburg By. Co
101
Kanawha Traction & Electrie Co
aaanawha Valley Traction Co.—See Charleston
20
Interurban RR
149
Kankakee Electric By
149
Kankakee Urbana Traction Co
63
Kansas City. Clay County & St. Joseph
62
Kansas City Elev. By.—See K.0. Rys
64
Kansas City Kaw Valley & Western By
04 •
Kansas City Leavenworth & Western Pl
Kansas City Light & Power Co.—See Kansas
63
City Power & Light Co
83
Kansas City Power & Light Co
08
Ka etas City Power Securities
Kansas City Outer Belt & Elec. Ry.—gee
"Railway & Industrial" Section.

OCT., 1922.]

INDEX TO RAILWAYS

153

Pee..
Page.
Page.
Miri-Crosstown Railway Oo _
94
(12 Lombard & South Street Passenger Ry Kansas City Railways Co
Middlesex & Boston St. Ry
See Frankford & Southwark Phila. City
Ry.-See Kan.
Kansas City & Westport Belt
108 Middlesex Electric Light & Power Co
Railway
Passenger
6*,
City Rye.
Middlesex & Somerset Praction.-See Pubiio
Lonaconiug Midland & Frostburg Ry.-See
Kansas City-Western Ry.-See Kansas City
81
Service By
96
Cumberland & Westernport
64
Leavenworth & Western Ry
83
144 Middletown (Conn.) St. Ity.-See Conn. Co
67 London & Lake Erie By. & Transportation
,
Kansas Electric Power Co
149 Millie West Util Co.-See - HA . and Ind." Sect.
London & Port Stanley Ry
-See Kansas
Utilities Co.
Kansas Electric
Milford Attleboro & Woonsocket St. Ry. See
14
67 London (Canada) Street Ry
Electric Power Co
134
New England invest. & Sec. Co
69
07 Long Island Consol. Electrical Cos
Kansas Electric Utilities Co
Milford Holliston sit ieraintligh sin St. Ry.-See
1* Gong Island Electric Ry.-See Long Island
73
Keene (N. H.) Electric Ry
Milford & Uxbridge Street fly
Cos
Cons. Elec.
-See Cumberland County
Kennebunk El. Lt.
73
117 Gong island Trac.-See Brooklyn Rap. Tran_ 15 Milford & Uxbridge Street Fly.
Power & Light
Fly
56
Gas & Elec.Co. 74 Lookout Mtn. Ry.-See Chatt. Fly. & Lt. Co_ 79 Miller's River Street
Kenosha Elea:. Ry.-See Wisc.
-See Lake Shore Elec._ 34 Millvale Etna & Sharpsburg Street Ky.-See
RR.
67 Lorain & Cleve.
114
Kentucky Securities Corporation
Allegheny Traction_
34
-See Lake Shore Bloc Ry
67 Lorain St. RR.
& Terminal Co
Kentucky Traction
73
149 Miilvlile Traction
64 Lorain's & Minster Electric RR
Keokuk (lows) Electric Co
73
Milwaukee Electric Railway & Light
-See
-See Keokuk El. Co 64 Los Angeles Hermosa Beach & .Redondo
Keokuk Elec. Ky. & Pow.
69 Milwaukee & Fox River Valley Ry.-See
Pacific Electric Ry
131
Keystone Utilities Co
139
Eastern Wisc. Elec. Co
-See Pac. Elec. Ky.__ 69
65 Los Angeles Pacific Co.
Key West Electric Co
69 Milwaukee Light, Heat & Traction-See Mil-See l'ac. Elec. Ry
90 Los Angeles Pac. RR.
Kingsbridge Ry
73
waukee Elec. Ry. & Lt
Los Angeles fly.-See Los Angeles Fly. Corp- 70
18
21
Rings Co. Elevated-See N. Y. Consol. RR
Milwaukee Northern fly
I) Los Angeles & Pasadena Elec. Ry.-See PaKings Co. Traction-See Nassau Electric
69 Milwaukee St. Ry.-See Milw. Elec. Ry.& Lt_
cific Electric Ry
-See Kingston Cons. RR. 65
RR.
Kingston City
149
70 Milwaukee Western Electric Ity.
Los Angeles fly. Corp
65
Kingston Consolidated RR
149
Minneapolis Anoka & Caytitia Range RR
Pac. Electric
Kittanning & Ford City-See West Penn Rys_ 115 Los Angeles & Redondo Ry.-See
76
69 Minneapolis Northfield & Southern_
Ry
124
Knox County Electric Co
149 Minneapolis Street & St. Paul City Railway.
Los Angeles & San DI -go Beach fty
65
Knoxville Ry. & Light Oo
74
See Twin City Rapid Transit
Los Angeles Trac.-See Los Ang. Ry. Corp.-. 70
Knoxville Traction-See Knox. Ry. & Lt.
Nita C. R.T- 74
P. Sub.
Minneapolis &
65 Louisville & interurban Ry.-See Louisville
()o
70 Minneapolis St. Ry.-See Twin City Rap. Tr_ 74
Railway
-See
Kokomo Marion St Western Traction Co.
149
Minnesota Coeval Ry
-See Inter65 Louisville & Nor. fly. & Ltg. Co.
Indiana R.ys. & Light
124
60 Mississippi Valley Railway & Power Co
State Public Service Co
Kutztown & Fleetwood Street Ry.-See
64
Missouri & Kansas Interurban By
70
4 Louisville Railway Company
Allentown & Reading
126
Missouri Electric RR
Louisville & Southern Indiana Trac. Corp.
7
60 Mobile Light & Railroad
Vail. Trac.-See Scranton Ry 105
Inter-State Public S twice Co
See
Lackawanna
-See Mobile Light & RR_ 7
8 Mobile Street KR.
-See
teoweli & Fitchburg Street Ry_
Aaacka. & Wyo. Vail. Rap. Tr. Co.
Mohawk Valley ()o.-See N. Y. State Rys_122
131 Lowell Lawrence & Haver.
-See Eastern
Scranton & Wilkes-Barre Trac
69
13 Mourrimati C 'Away Electric
149
Massachusetts Street Ry. Co
Lacombe & Blindman Valley Electric Ry
33 Monocacy Valley Ry.-See Potomac Public
66 Low Fare Fly.
-See Cleveland Ry
Laconia Street Ry
54
Service Co
66 Lynchburg ties Co.
-See Lynchburg Trac. &
Lacrosse City Ry.-See Wisc. Ry. Lt. & Pr
114
105 Mouougahela Street ttall way
-See IndiLafayette & Logansport Traction.
Light Co
--See Duquesne
47 Lynchburg & Roanoke
-See American Rye. Co103 Monongahela Lt. & Pow.
ana Service Corp
115
Light Co
105
Indiana Ser& Light
Lynchburg rrae .
Lafayette Street Ry-.--See
47
Monongahela Power & Railway Co
47 Lynchburg Water Power Co. See Lynchburg
vice Corp.
_105 Monongahela Valley Traction Co. See Mc.
_
66
Traction & Light Co _
Lake Charles Ry. Light & Water Works
47
nongahela Railway & Power Co
Massa-See Eastern
Lake Erie Bowling Green k Napoleon Elec.Ry.I49 Lynn & Boston RR.
13 Monterey & Pacific Grove Ry.-See Coast
149
chusetts Street Ry. Co
Lake Erie & Northern Ry
127
Valley Gas & Electric Co
& L Erie .Trac 19
-See Buff.
Lake Erie Trac.00.
149
Monterey (Mex.) Railway. Light & Power
149 amacon Electric Light & Ry.-See Macon
Lake Erie & Youngstown
71 Montgomery Co. Pass. Ry.-See Schuyl. V.Tr.123
'VA Ry & Light Co
Lake Roland Elevated-See United Rye. &
75
71 Montgomery Light & Traction Co
8 Macon Gas Co
Electric Co. of Baltimore
71 Montgomery Street Ry.-See Montgomery
34 Macon Railway & Light Co
Lake Shore Electric (Cleveland)
75
(Ala.) Light St Traction Oo
-See
Madison County Light. k Power Co
Mahanoy City. Pa.
Lakeside Ry.,
-See Mont71 Montgomery (Ala.) Traction Co.
50 Madison (Wis.) Railways Company
Schuylkill Traction
71
gotnery Light & Traction Co
ale:au/fling & Shenangu 14. & Light Co. (with
-See Chicago &
Lake Street Elevated RR.
149
91 Montgomery Transit & Light Co
31
map).
-See Republic Ry. & Light Co_
Oak Park Elevated Ry
78
Montoursville Passenger Ry
-See Pennsylvania-Ohio
Mahoning Val. S. E.
-See Canton-Akron
Lake View L.& Impt.Co.
91 Montpelier & Barre Ligut & Power
2
Electric Co
Cons. Ry
145
124 Montreal Public Service Corporation
Light & Power
-See Memphis St. Ry- 72 Maine Railways,
Lake View Trac. Co.
Montreal Street Ry.-See Mont Tramways 145
Manchester & Derry St. Ry.-See Man. Trac.
Lancaster City RH.-Ses Lan. Co. Ry.& Lt.
145
71 Montreal Tramways Co
. _ 66
Light & Power
144
Montreal Tramways & Power Co
Ry.-See Manch.
-.
.
. TR I;tine . sr:& Lt 66 Manchester & Nashua St.
Lancakaer&Columbii=ifee98
71 Montville St. Ry.-See Shore Line Elec. Ry
66
Tree., Light & Power Co
Lancaster County Ry. & Lt. Co
14
71 Moose Jaw (Sask.) Electric fly
East. Ry.--See Lane.Co.Ry.& Lt. 66 Manchester Traction Light & Power Co
Lancaster&
149
19 Morgantown (Va ) Interurban Ry
,tsf y 1 •A.nent Line
Manhat•tan Bilge
Lancaster Mechanicsburg & New Holland
149
149 Morgantown & Wheeling Ry
66 Manhattan City (Kan.) & Interurban Ry
See Lane. Co. Ry. & LI Co
114
69 Morniugside Electric Street Ry
-See LanManhattan & Queens Traction Corporation
Lancaster Gas Light & Fuel Co.
75
Morris County Traction Co
86 Manhattan Fly -See "Ry. & Ind. Section."
caster County Ry. & Light Co
75
-See Morris County Tree.0o
144 Morris RR.
Manila Electric Co
Lancaster Petersburg & Manheins-See Lan81
144 Morristown Gas Light Co_
Manila Electric Corp
66
caster Co. Ry & Lt. Co
149
-See
Mountain Lake Electric RR
Manila Electric Kit & Lighting Corp.
Lancaster & Quarryville Street Ry.--See Lan-See Portland Ry..
144 Mt Hood Fly & Power.
Manila Electric Corp
66
caster Co. Fly. & Lt. Co
118
144
Light & Power Co
Mann.. suuutassu KY*
Lancaster & Rocky Springs Ry.-See Lancas5 1 Mt. Oliver Incline Plane Ry.--See P. & B.
66 Manistee ity
ter Co. R,y. & Lt. Co_
113
149
Traction System
141 Marcellus & Otisco-Lake Ry.
Street Ry
Lancaster & Southern
113
Mt. Wa.shington Street Ry
-See
-See Lane 00. Ely & Lt 66 Marion Bluffton & East. Trac. Co.
Lancaster Tree. Co.
11 Mt. Vernon (0.) Elec. St. By
149
Marion a Bluffton Traction Co
Lancaster Willow St. Lam. & Stras. Ry.-See
1 1 Mousam River KR -See Ablantic Shore Ry.- 64
66 Marion & Bluffton Traction Co
Lancaster Co. Ry. & Lt. Co
67 Marion City Ky. -See (In Tr of Ind
5 Muncie Hartford & Ft. Wayne Traction Co.
Lancaster & York Purnage Street Ry
See Union Traction Co of Indiana
-See ColLansing & Jackson Ry.-See Mich. tin. Rys- 52 Marion Railway Light & Power Co.
a
38 Muncie & Portland Traction Co
umbus, Delaware & Marion Elec. Co
La Porte & Mich. City Ry.-See Chic. S. B.
1.19 Muncie & Union City Tree. Co.
-See Union
133 Marl in (0 )& Suburban Fly
& Nor. Ind. Ry
Traction Co of Indiana
Vett, Trarp.11, 00.-Seielred Lt Pc Tr _ 90 Market Street Cable Ry.-See Market St. Ry.128
Las
111
Market St. El Pass Ry.-See Philadelphia
Municipal Service Co
-See Laurel
Laurel Electric Power & Light Co.
106 Muscatine & Iowa City Ry
14
Rapid T ansit
67
Light & Ry. Co
128 Muskegon Traction & Lighting Co
7
67 Market Street Ry
Laurel Light & Railway Co
8
7
f•tiOn
gleetetI'
Marlboro & Westboro Street Ry.-See New
-See Eastern MassaLawrence & Reading.
134 Mversville & Catoctin Ry.-See Potomac
Eng. Invest & Sec. Co
13
chusetts Street Ry. Co.
Public Service Co
Marquette County Gas & Electric 00.
-See
-Bee United Gas
Leav. Lt., Ht. & Power Co.
61 Mystic Valley St. tty.-see Eastern Mass. St. 56
Michigan Gas & Electric
93
& Electric Co
13
61
Ky. Co
Marquette County Electric Railway Co
-Bee Inter-State Public
Lebanon Mg. O..
& Light Co.
-See Consumers
60 Marseilles Water
Service Co
78
24 Washua Street Ry
Water & Light Co
122
Lebanon Valley St. RY
& Edgefield RR.
-See Nashville Ry.
1
Marshalltown (Iowa) it., Power & Ry.-See
-See Lehigh
Lehigh Navigation Electric Co.
78
1
& Light Co
Iowa Ry. & Light Co
3
Power Securities Corporation
7
149 Nashville Railway & Light Co
3 Martinez & Concord Interur`lan Ry
Securities Corporation
Lehigh Power
9 Nashville St. Ry.-See Nash,. Ry.& Lt. Co- 7
58 Maryland Electric Rye
Lehigh Traction.55 Nashville Traction
Mason City &
Lehigh Val. Trac.-See Lehigh Val. Tran. Co. 3 tla.ssachusetts Clear Lake RR
_
Consolitiatod iti,,_
1
Nassau Electric RR
-See Lehigh
Lehigh Valley Lt. & Pew. Co.
-See
Natchez Electric St. Ry. & Power Co.
3 Massachusetts Elec. Companies -See Eastern
Power Securities Corp
13
79
Southern Ry. & Light
Massachusetts Street fly. Co.
3
Valley Transit )'o
Lehigh
57 qatiek & Cochltuate Street Ry.-See MiddleMass. Northeastern St. Ity
Leominster & Clinton St. Ry.-See New Eng.
12
55
sex * Boston Street Rs' —
131 Mass. North. Itys.-See Mass. Consolidated
Invest. & Sec Co
-See Americ n rt Gas Elec. Lt. & Pow.
‘Iassilion Elec.& Gas Co.-See Citlei Serv Co. 91 NatIo nal ye. co
Ayer St. Ry.-See FitchLeominster Shirlgy &
103
47 Mattoon City Rv Co -See Cent Ill P. S. Co. 72
burg & Leominster Street fty
-See American Rye._103
72 National Properties Co.
73 Mauch Chunk & Lehighton Transit Co
Lewisburg Milton & Watsontown Pass. Ry
-See All. Coast Elec. Ry
Neptune Elec. 0o.
Acciavock & Mt. Vernon Horse RP.
-See
-Bee AnLewiston & Auburn Elec. Lt. 00.
5
Navigation Co
78
Nashville Ry . & Light
118
droscoegin Electric Co
Neversink :Mountain Ry.-See Reading Tran-See
VIeadville & Conneaut Lake Traction:-S
Lewiston Augusta & Waterville St. Ry.-See
121
48
sit & Light Co
North Western Pennsylvania Rs!
118
Androscoggin & Kennebec Ry
Meadville (Pa.) Trac.-See Northw. Penn Ry 46 New Albany St. Ry.-Inter-State Public SerLewiston Itratiswick St Bath St. Ry.-See
119
vice Co
OS
118 Medfield & Medway Street Ity
Androscoggin & Kennebec Ry
-See Inter-State
New Albany Water Works
-See United
149 Media Glen Riddle & Rockdale.
Lewiston-( larkston Transit Co
109
Public Service Co
Power & Transportation
2)
Lewiston Connecting Bridge-See Int. Tree
71 Newark Consetidatm elm co
98 Memphis Street Ry
Lewiston & Youngstown Frontier Ry
-See Newark ConsolidatedGas
67 Mercer Co. Traction.-See Trenton Street Ry _138 Newark Gas Co.
Lewistown & Reedeville Electric Fly
New Lrk At Marlon Fly (New York I
14
Merchants' Electric Light Co.
-See New OrLexington Avenue & Pavonia Ferry Ry.85 Newark Pass. Ry.-See Consol. Trac. Co....leans Railway & Light Co
87
See New York Rye
-See Cons.Trac. of N. J.
8:3 Newark PI
Road.
Meriden Horse ItIt.-See Connecticut Co_ _
Lexington & noetnn St. Ry.-See Middlesex
12 Meriden Middletown & Guilford Electric Ry _149 'srew Bedford & Onset Street Hy
& Boston Street Ry.
New Redford Middleh.
-See
Brockton.
68 Meriden Southington & Coinpounce Tramway
Lexington Ice Co
13
Eastern Massachusetts St. Ry. Co
83
-See Connecticut Co
Lexington & interurban Rys.-See Kentucky
96 New Brunswick Light. Heat & Power Co_.._ 81
67 Meridian Light .tettallway Co
Securities Corporation
14I
139 New Brunswick Power Co
Railway.
Lexington Ry.-See Kentucky Trac. & Term_ 67 Mess.ba Crosstown RR.
-See New York Rye- 87 Newburg Electric Fly -See Orange Co. Tree- 97
68 Metrop.
Lexington Utilities Co
-See Wash. Ry. & Elec.._ 139 Newburg & Orange Lake 1111.-See Orange
-See Cin. New. & Cov_ 39 Metropolitan KR.
Licking River Br. Co.
97
_
_
notintv Traet Ion _
-See N.Y.Kya_ 87
37 Metropolitan St. Ry.(N. Y.).
Lima Electric Ry. & Light
-See Pennsylvania
Ry.(Chicago)._ 30 New Castle Electric Co.
Lima Findlay & Toledo-See Western Ohio Ry 68 Metropolitan West Side Elev.
Ohio Electric Co
149
Mexican Light & Power. Ltd
141
L1ma-Honeoye Electric Light Sr RR
149 New Cast le Lt. lit & Power -See Inter-State 91
149 Mexico Santa Pe & Perry Traction
Lima-Honeoye Falls Light & RR
1'100 te service Co
119
-See Ohio Elec. Ry_ 36 Mexico Tramways Co Co
Lima & Toledo Trac. Co.
149 New Castle Trac.-See Penn.-Ohio Elec. Co-- S?
Traction
149 Miami (Fla.)
Lincoln (111.) Ry. & Lt Co
134
68 Miamisburg & Germantown.-See Ctn.& Day. 38 New England Investment & Security Oo
Lincoln (Neb.) Traction
New Hampshire Electric Railways
-See Chicago
City Traction Co.
Lindell Ry.-See United Rys.Co. of St. Louls125 MichiganRend & Northern Indiana
133 New Haven & Centr St. Ry.--See Conn.0°South
7
Linglestown & Blue Mtn.-See Harrisburg Rye. 5
149 New Haven Street Ry -See Conn. Co
Michigan Elevated Ry.
Little Falls (N. Y.) & Johnstown RR
61 New Holland Blue Bail & Terre Hill St. Ry.Co
68
149 Michigan Oas & Electric Consumers Power On. 51
Little Rock Railway & Electric Co
HudsonCo Ry. & LR 0o Ferry__
niver t.y st_
em
jLancaster,v
5l
-See
Michigan Lieht Co.
Lockport Gas & Electric.
-See United Gas &
New Jersey
Michigan Railroad
93
Electric Co
51 New Jersey & Pennsylvania Traction__
Michigan Railroad
Michigan Railway-See
Lockport Light, Heat & Power.
-See United
52 New Jersey Traction-See Con. Trac. Sys__ 9
I-Lys
Gas & Electric Co
93 Michigan Traction-See Mich United
52 New London & East Lyme St. Ry.-See Shore
Loeiceert & 0Icott-See Internat. Rye
20 Michigan United Rys. Co
Line Electric Ry _
I
Bay St. Ry.Maddiun. WArt)114111 at Buzhard's
Logan Rapid Transit Co.
-See Utah-Idaho
83 :New London Street Ry.-See Connecticut 0o..
See New Bedford & Onset Street Ry
Central RR
127




I

154

INDEX TO RAILWAYS

[VOL. 115.

Page.
Pau,
New Orleans & Carrollton RR.Light & Power
Page.
Ohio Central Traction—See Cleveland SouthPhiladelphia & Garrettford St. Ry. Co.—See
Co.—See New Orleans Ry. & Lt
85
western & Columbus By
33
Philadelphia & West Chester Traction
New Orleans City RR.—See N.0. By. & Lt_ 85 Ohio River Electric Railway
106
& Power
117 Philadelphia & Lehigh Valley Traction.—See
New On.City & Lake RR.—See N.0. Ry.&Lt 85 Ohio Service Co
Lehigh Valley Transit Co
149
New Orleans Gas Light Co.—See New Orleans
3
Ohio Traction Co
32 Philadelphia Railways Co
Railway & Light
110
85 Ohio Valley Electric Ry
105 Philadelphi
New Orleans & Grand Isle Traction, Light &
106
Oklahoma Electric Term.00.—See Olcia. By..100 Philadelphia Rapid Transit Co
a Traction
Power
108
_149 Oklahoma Railway Co
100 Philadelphia & West Chester Traction
New Orleans & Pont. RR.—See New Orleans
Oklahoma Union Railway
149 Philadelphia & Western By
Railway & Light
1 160
85 Old Colony St. Ry.—See Eastern M888. St.
Philadelphia & Willow Grove Street Railway _108
New Orleans By.& Light Co
85
Ry Co
13 Phoenixville Valley Forge & Strafford El. By.149
New Orleans Traction Co.—/See New Orleans
Olean Bradford & Salamanca Ry
Piedmont & Northern Railway
Railway & Light
27
85 Olean Rock City & Bradford Ry.—See Olean100 Piedmont Railway
& Electric Co
Newport & Dayton Street Ry.—See Cincin149
Bradford & Salamanca By
Pine Bluff
nati Newport & Covington
110
39 Olean Street Ry.—See Olean Bradford & Sala-100 Pitcairn & (Ark.) Co
Wilmerding Street Ry.—See MonNewport Electric Corp
14
manca By
ongahela Street By
100
Newport Illum.—See Newport Electric Corp. 14 Oley Valley 1(y.—See
Reading Tr. & Lt. Co....121 Pittsburgh Allegheny & Manchester Traction.114
Newport St. Ry.—See Newport Electric Corp. 14 Omaha & Council Bluffs
By.& Bridge
100
—See United Traction System
Newport & Fall River Street Ry.—See
113
Omaha & Council Bluffs Street By
100 Pittsburgh & Allegheny Valley Traction Co.—
Newport Electric Corp.
14 Omaha Council Bluffs & Suburban Ry.—See
See West Penn Railways
Newport News & Hampton Ry., Gas & Elec.
115
Omaha & Council Bluffs By.& Bridge Co_..100 Pitts.& Beaver Lt.Co.—See
Duquesne Light001 15
Co
57 Omaha & Lincoln By.& Light Co
101 Pittsburgh & Beaver Street By
Newport News & Old Point By.& Elec.—See
115
Omaha Lincoln & Beatrice Railway Co
68 Pittsburgh & Birmingham Passenger Ry.—See
Newport News & Hamp. By. Gas & Elec.Co. 57 Omnibus Cable Ry.—See Market
St. By
128
Pittsburgh & Birmingham Traetion
Newport & Providence By
113
97 Oneida Railway Co.—See
Newtown Ry.—See N. Y.& Queens Co. By.... 69 Oneonta & Mohawk Val. N Y. State Rya_ _123 Pittsburgh & Birmingham Traction
113
RR.—See Southern
Pittsburgh Butler & Harmony Consolidated
New Williamsburg & Flatbush RR.—See
N. Y. Power & Railway Co
38
& Power Co
Brooklyn Rapid Transit
117
15 Ontario & San Antonio Heights.—See Pacific
Pittsburgh Canonsburg & Washington Ry _ __ _113
New York City Interborough By. Co
Electric By
90
69 Pittsburgh
New York Consolidated RR
113
18 Ontario Light & Trac.—See N. Y.State Rys_ _123 Pittsburgh & Charleroi Street Ry
County Ry.—See Choctaw Power
New York & Harlem BR
87 Orange County Traction Co
97
& LightCo'
New York & Long Island Traction—See Long
71
Orange & Passaic Valley Ry
82 Pittsburgh Crafton
Mansfield Street Ry.—
Island COPS. Elec. Cos
. 69 Oregon Electric By
See Pittsburgh Railways Co
119
New York Municipaly.orp
112
.
18 Orleans-Kenner Electric By
149 Pitts. Harmony Butler & New Castle St. Ry _117
New York New Haven & Hartford BY- -.-- 8? Orleans RR.—See New Orleans Ry.
,
85 Pittsburgh incline Plane.—See Pittsburgh &
New York & North Jersey Rapid Transit,-.--149 Orono Water Co.—See Bangor By & Light
& Elec.Co.
Birmingham Traction System
New York & North Shore Tract on (Roslyn)
113
--124 Oskaloosa Trac. & Light Co.—See Des Moines 9 Pittsburgh Mars
& Butler Ry
New York & Queens County tL. L C ilY)-- 69
117
& Central Iowa Electric CO
24 Pittsburgh McKeesport & Connellsville Ry.—
New York.& Port Chester Ry.—See New York
Ottawa (Canada) Electric Railway
See West Penn. Rye.
145
Westchester & Bost la
115.
85 Ottawa Traction CO Ltd145 Pittsburgh McKeespert Co
Sz Greensburg Ry.—
New York Railways Company
87 Ottumwa Rallw kv & Light Co..—.— __ 101
See West Penn Railways Co
New York State Railways __
115
123 Outline a 'traction & Light Co.
--See(A tbmwa
Pittsburgh Railways Co
New York & Stamford By
84
Railway & Light Co
101 Pittsburg (Kan.) By. & Light Co.—See Jop-112
New York Westchester & Boston By
85 Owensboro City RR
lin & Pittsburg By..
46
N. Y. Westchester & Conn. Trac. Co
110
149 Oxford Electric Co
124 Pittsburg RR. It an.)—See Joplin & Pitts. By _ 110
(
Niagara & Erie Power—See Buff. & L. E. Tr_ 19
Pittsburg Traction
Niagara Falls Park & River—See Int. Tree
114
20 pacific Coast Power Co.—See Puget Sound
Pittsburgh & Went End Passenger Ry.—See
Niagara Falls & Suspension Bridge Ry.—See
a Power & Lt. Co.
131
Pittsburgh Railways Co_
International Ry
112
20 Pacific Electric By
Pitts. &
Niagara Falls Whirlpool & Northern Ry.—See
Pacific Gas & Electric Co.—See "Railway & 69 PittsfieldWest Va. Gas Co.—See Phila. Co__ -111
(Maas.) Electric Street Ry.—See
International Ry
20
Industrial" Section
Berkshire Street RY.
Niagara Gorge By.(Electric)...
84
98 Pacific Traction Co.—See Puget Sound
Pittston & Scranton Street Ry.—See Scranton
Niagara St. Catherines & Toronto By
Pow.& Lt. Co.
145
131
Rs' Co
Nichols Electric Light & Power.
105
80 Paducah Street Ry.—See Pad. Elec. Co
101 Pittston Street car.—See Wilkesbarre & Wyo
Ninth Avenue RR
89 Paducah City By.Co.—See Paducah Elec. Co.101
ming Valley Traction System
Norfolk & Atlantic Terminal—See Va. By. &
142
Paducah Electric Co
101 Plainfield Gas & Electric Co.—See Somerset •
Power Co
122 Pan Handle Trac. Co
Union &
Norfolk Central St. Ry.—See Eastern Mass.
81
Parkersburg Marietta & Interurban Ry.—See116 Plainfield Middlesex Lighting
St. Ry.—See Public Service Ry.... 81
St Ry. Co
Kanawha Traction & Electric Co
13
Plattsburg
Norfolk & Portsmouth Trac. Co.—See Va.
117
Parkersburg (W.Va.)& Ohio Valley Elec.Ry _101 Plymouth Traction (Jo.
149
Bridge Co.—See Wilkesbarre &
By. & Power Co
122 Park & Ocean RR.—See Market St. By
128
Wyoming Valley Traction...142
Norfolk (Va.) By. & Light
123 Park. Pt Trac. Co.—See Dui.
-Sup. Trac_
44 Plymouth & Brockton Street By
Norfolk Street RR.—See Norf. By. & Lt. Co_ 123 Parr Shoals Power Co.—See Columbia
117
Ry.,
Plymouth & Sandwich Street IV
Norfolk Sub. RR.—See Eastern Mass. St.
149
Gas & Electric Co
35
By. Co
149
13 Pasadena & Mt.Lowe Ry.—See Pac. El. By... 69 Point Pleasant (N. J.) Traction Co.
Poland St. Ity —See Pentia.-Ohio Elm. Co__ 91
Norristown Pass. Ry.—See Schuylkill Valley
Passaic & Newark El Tr.—See Cons. Trac. Co
Traction
122 Passaic Lighting Co.—See Paterson & Passaic 82 Ponce Electric Co
145
Pontiac Light Co.—See Consumer Power Co..
Norristown Trans Co.—See Leh. V. Trans.Co 3
Gas & Electric Co
81 Port Huron St. Clair & Marine City Ry.—See 51
North Alabama Traction Co
149 Passaic Gas Light Co.—See Paterson & PasDetroit & Port Huron Shore Line
Northampton Street By
98
saic Gas & Electric Co
43
81
Northampton & Amherst St. Ry.—See ConPassenger & Belt lty.—See Ky.Trac.& Term_ 67 Port Jervis Traction Co
117
Portland & Cape Ells. Ry.—See Portland RR.118
necticut Valley St. By
55 Pitterson City Ry —See Public Service Ry
81 Portland (Me.) Elec. Co.—See Cumb.
Northampton Easton & Washington Traction
Paterson & Passaic Gas & Electric Co
County
81
Power & Light
—See Northampton Traction Co__ __44 Paterson Railway.--See Public Service By... 81
Portland Eugene & Eastern Ry.—See Southern 117
Northampton Traction Co.(Easton,Pa.)—See
Paterson & State Line Traction Co
83
Pacific Co. in "Railway & Industrial" Sec.
Northampton Transit Co
44 Pawtucket St. Ry.—See United Elec. By,.—120
Portland General Electric Co.—See Portland
Northampton Transit Co
44 Peekskill Lighting & Railroad
101
Railway. Light & Power On
North Branch Transit Co
149 Pelham Park & City Island
90 Portland Lighting & Power.—See
North Carolina Public Service Co
56 Pelham Park Railway
Cumber-118
149
land County Power & Lt. Co
North Hudson County Ry.—See Public
Peninsular Railway
.117
Service By
81 Pennsylvania Li g. Co.—See Lehigh Power130 Pcirtland & Oregon City By
149
Portland (Me.) RR
North Hudson Light, Heat & Power Co.—See
Securities Corp
118
3 Portland Ry.Co.—See
United Electric Co. of New Jersey
80 Pennsylvania Light & Power_
.115 Portland RI.. Light & Portland By.Lt & Pow 118
North Jersey St. Ry.—See Public Service By. 81 Pennsylvania Lt., Ht. & Power
Power Co _
118
Co.—See
Portland (Conn.) St. Ry.—See Conn. Co
North River Ry.—See Hudson Valley Ry
Penn. Lt. & Power Co
3
83
115
Northern Cambria By
101 Penn Motor Co.—See Easton Cons. Elec. Co.. 4 Portland & Yarmouth Elec. Ry.—See Port.RRI18
Porto Rico Rye. Co.. Limited_
Northern Central Gas Co.—See Lehigh Power
Pennsylvania St Mahoning Valley Traction Co.
145
Portsmouth Dover & York Street Ry.—See
Securities Corporation
See Pennsylvania-Ohio Elec. Co
3
91
Atlantic Shore Ry
Northern Meanie Street By.(Scranton).—See
Pennsylvania-New Jersey By. Co
64
98 Portsmouth Electric By
Scranton & BInghampton By
10 Pennsylvania-Ohio Elec. Co
149
91 Portsmouth & Exeter Bt. Ry.—See
Northern Illinois Light & Traction Co
New
25 Pennsylvania-Ohio Power Sr Lt.
. _ ol
Hampshire Electric
Northern Indiana Ry.—See Chicago South
Penn. St. Pass. Ry.—See Citizens Traction_ _114
Portsmouth Kittery & York Street Ry.—See 57
Bend & Northern Indiana By
133 Pennsylvania Utilities 00.
--See "Railway and
Atlantic Shore Ry
Northern Indiana Utilities—See Inter-State
Industrial" Section.
64
Portsmouth (Ohio) Street RR.& LightOo_ _119
Public Service Co
60 Pennsylvania & Ohio Ry.—See Penn. &
Potomac Elec. Power Co.—See Wash -By.& _ 139
Northern Massachusetts Street By
Ohio Traction Co.
-E
56
6 Potomac Public S rvice Co
,
Northern Ohio Electric Corporation
Pennsylvania & Ohio Trac. Co.
56
2
6 Pottstown & Phoenixville
Northern Ohio Trac. & Light Co
149
Ry
2 Pennsylvania Power & Lt.—See Lehigh Power
Pottsville & Reading Ry.—See E. Penn.
Northern Ohio Traction—See Northern Ohio
Securities Corp
3 Pottsville Union Traction.—See E.PennRye. _119
Traction & Light Co
Ry.
.119
2 Penn Street Passenger Ry.(Pittsburgh).—See
Poughkeepsie & Wappingers Falls
Northern States Power Co.—Fargo & MoorCitizens' Traction
120
114 Poughkeepsie City & WappingerRy
Falls Elm
head Division
47 Penn Yan & Lake Shore Railway
149 Ry.—Flee Pough. & Wappingers Falls Ry—
Northern Texas Electric Co
_120
48 Pensacola Electric Terminal Ry.—See PensaPowell Street Ry.—See Market St. Ry
Northern Texas Trac.—See Nor. Texas Elec..- 48
cola Electric Co
103 Power Transit & Light (California)—See San 128
Northumberland County Gas & Elec. Co.—See
Pensacola Electric Co
103
Joaquin Light & Power Corporation
Lehigh Power Securities Co
3 People's Elevating Co
48
82 Presid o & Ferries R R
Northumberland County Traction Co
149 People's Gas & Electric Co.(Burlington)
130
.—See
Princeton Lt.. Ht.& Pow.Co.
Northwestern Electric Serv. Co. of Penns
United Utilities Corp
46
81
20 Prospect Park & Coney Island By
Northwestern Elevated (Chicago)
31 People's Gas & Electric Co. (Mason City).—
19
Providence & Danielson Ry
Northwestern Ohio By.& Power Co
See United Light & Railways Co
117
54 Providenoe & Burrillville Street Ry.—See120
Northwestern Pennsylvania By
46 Peoples' Gas, Elec. & Htg.—See Inter-State
United Electric Railways
Norton Taunton & Attleboro Street Ry
Public Service Co
149
120
Norwalk Gas & Electric Co.—See Cleveland &
People's Incandescent Light Co.—See Craw- 60 Providence Securities Co.—See United El. Rys.120
Providence & Taunton St. Ry.—See Eastern
Southwestern & Columbus
33
ford County Ry. Co
46
Massachusetts St. Ri Co
.
Norwich St. Ry.—See Conn. Co
83 People's Passenger Railway
13
108
Norwich & Westerly Traction Co.—See Shore
People's RR.—See New York State Railways_123 Public Service Co. of Ind.—See Interstate
pobile Service Co
1.1ne Electric Ry
98 People's By.(Dayton. 0.)
60
104 Public Service Company of Oklahoma
Norwood Canton & Sharon Street By
People's By.. Wilmington, Del.—See Wilm.
149
149
1 Public Service Corporation (with map)
Nova Sends Tramways & Power Co
143
& Phila. Traction Co
79
105 Public Service Gas Co..
Nueces By. (Texas)
149 People's Street Ry.—See Scranton By.
80
105 Public Service Electric Co
People's Street By.(West Newbury, Mass.)—
80
4
Service Ies
.,roc
.
Investment..
.
& McDonald St. Ry.—See West
See Eastern Massachusetts Street By. Co_ 13 PiihIicSer
Public Service Newark Term. Ry.—See Public 14
Penn Rys
, 115 People's Traction (Philadelphia, Pa.)
108
rty.
Oakland Antioch & Eastern RR.—See an
People's Tramway Co.—See Connecticut Co
81
Francisco Sacramento RR.
99 Peoria Bloomington & Champaign Trac. Co.— 83 Public Service RV (vrItli iiiit)
Si
p,oate 4..rvlep RR_
Oakland & Antioch—See San Fr.
_ .. _ _
-Sacra. RR., 99
See St LOUIS Springfield & Peoria_
_ _ 25 Public Utilities Co.—See Commonw. _____ - 83
Oakland Railways—See San Fran. Oakland
Peoria Gas & Electric Co.—See CommonP. Corp_ 51
viten(' Work,,. lo —See Bangor to/ & Klee.,io 9
Terminal Rye.
wealth Power Corp
98
,
Oakland San Leandro & Hayward' Electric
Peoria Light Co.—See Commonw.Pow. Corp_ 51 Pnehis Train,vs.v 1,1 t Pow..r ‘'n
....I49
51 Pueblo & Suburban Tractioe & Light
-Oakland Terminal By
See San Fran.
98 Peoria Lincoln & Springfield Ry.—See at.
Co.-Rae Soataora Colorado Power Co
Louis Springfield & Peoria
Co.—See San Fran.-Oak.Term. 98
Oakland Term.
25 Pueblo Tractioa & Lighting—See Southern 120
Peoria Railway Co
Oakland Trac. Cons.—See San Fran.-Oak.
25
Colorado Power Co
98 Peoria By. Term. Co.—See "Ry.& Ind." Sec.
Terminal
120
Puget Electric Ry.—See poget So.iti.1 Power
Perry Street Passenger Ry.—See Federal
-Oak.
Oakland Traction 00.—See San Fran.
& Light Co
Street & Pleasant Valley By
_
.ill
Term.By... 98
113 Puget Sound Power & Light On __._ _
Petaluma & Santa Rosa RR
- -131
Fran.
-Oak..
Oakland Transit Co.—Se San
.
103 Puget Sound Traction. Light & Power(10 See
98 Philadelphia Bristol & Trenton Passenger By.
Terminal RY8
Puget Sound Power & Light On
I'll
—See Trenton Bristol & Phila. Street Ry_ _110
Oakwood Street By. Co
41
Putnam & Westchester Traction (lo
Ocean, Shore RR
101
149 Philadelphia City Passenger Ry
108
Philadelphia Co. (Pittsburgh. Pa.)
Ogden Lake & Idaho RR.
---See Utah-Idaho
111
uskertown Tractilon—See Leh.V al.Tran.0o
Central RR
127 Philadelphia & Darby By
108
uebeo-Jaoques Cartier Elec.—See Quebec 3
Philadelphia & Easton Transit Co
Ogden Rapid Transit Co.—See Utah-Idaho
43
Ry. Lt. lit. & Power
146
Philadelphia Sr Easton Electric Co.—See PhilaCentral FIR
127
' Quebec-Montmorency Rv.—See Quebec
By.,
Ogdensburg Street By
delphia & Easton Transit Co
149
43
Light,Heat & Power (Jo. Ltd
146
Ohio Electric Railway
36 Philadelphia & Gray's Ferry Passenger By.
..108 Quebec Pty. Lt. Heat & Power
146

r

Oakdale




O

OCT., 1922.]

INDEX TO RAILWAYS

155

Page
Page
south West Missouri Electric Ry.—See South
san Antonio Traction—See San Antonio Public
West Missouri RR_
127
Service Co
142
San Antonio Public Service Co
-127 South West Missouri Railroad..
142
Southeastern Ohio Ry. (Zanesv(lle. Ohlo)........149
San Benito Lt. & Pwr. 0o.—See Coast
,
Counties Gas & El. Co
130 Southern Boulevard RR.—See Union It)
90
San Bernardino Valley Trac. 00.—See Pao
Southern Canada Power Co.—See Sherbrooke
By. & Power Co.
Elec By
69
146
San Diego Electric By
127 Southern Colorado Power Co
120
Railroads & Power Development Co.—See
128 San Diego & Southeastern By
149 southern Eiee. tty.—sue Un. Itys. or tit. L.....125
.... United Railways Investment
149 Sandusky Norwalk & Mansfield Electric By
98 Southern Ht., Lt. & lower Co.—See DuRailway & Lt. Securities (Boston)
quesne Light Co
35
115
Raleigh St. Ry.—See Carolina Power & Lt.Co-120 Sandusky Fremont & Southern By
Southern Illinois Ry. & Power 00.—See CenSandwich Windsor dc Amherstberg Ry.—See
Rapid Transit St. Ry.of the City of Newark—
82
tral Illinois Public Service
Detroit United By
42
See °ousel. Trac. Co
Cv._____ _ _ .142
Ro
7
9
Reading 4.34ty Passenger Ry.—See Reading Tr_121 Sanford & Cape Porpoise Ry.—See Atlantic
Shore Ry_
64 Southern Indiana Gas & Electric—See ComReading & Lowell—See Eastern Massachusetts
13 San Francisco Elec. Rys.—See Market St. Ry-128
monwealth Power Corp
51
Street Ry.Co.
San Fran. Napa & Calistoga Fly
130 Southern Light az. Fraction (Jo.(Natenez)—See
Reading & Southwestern Ry.—See Reading
121 San Francisco Oakland & San Jose Cons Ry—
Southern Railway & Light Co
79
Transit & Lt Co
133
-Oakland Term. RYs
See San Fran.
98 Southern Michigan Ry
Reading & Temple Electric Ry.—See Reading
121 San Francisco-Oakland Term Rye
98 Southern New York Power & Railway Ocrri__ 38
Traction
121 San Francisco-Sacramento RR
99 Southern Ohio Traction.—See Cincinnati &
Reading Traction
121 San Francisco & San Mateo Electric—See
38
& Dayton Traction
Reading Transit & Light Co
149
Market Street By
Reading Wakef. & Lynn—See Eastern Massa128 Southern Oregon Traction Co
13 San Joaquin Light & Power Corporation
106
48 Southern Pennsylvania Traction Co
chusetts Street By. Co
213
SanJose & Alum Rock Ry.—See San Jose RR* 130 Southern Public Utilities Co
Reading & Womelsdorf.—See Reading Transit
121 San Jose-Los Gatos Interurban Ry.—See
Southern Railway & Light Co
79
& Light Co
69
28
Peninsular By
130 Southern Street Ry
Redlands Central Ry.—See Pac. Elec. KY
Redlands St. Ky.—See Paz. Elec. Ry___-_,..- 69 San Jose Railroads
130 Southern Traction 0o. (Bowling Green. Ky.)_149
Southern Traction (Dallas).—See Texas El.
San Jose & Santa Clara RR.—See San Jose
Red Wing Gas Light & Power Co.—See Wis.
66
40
By
Minn. Light & Power Co
RRs
130
149 San Jose Short Line Ry.—See San Fran.
Southern Traction Co. of Illinois
149
-Oak
Reno (Nev.) Traction
91
112
Renuniic Ry. & I.1.4ht
Terminal Rye
98 Southern Traction—See Pittsburgh Rys
120 San Jose Terminal By
_ I -19
Rhode Island Co.—See United Elec. R y_s
149 Southern 'Traction & Power Co
Southwest Missouri RR. Co
142
Rhode Island Suburban Ry.—See United
San Ramon Valley RR.—See San Francisco120
Electric Railways
149
Sacramento RR
99 Southwestern Interurban itv
96 Santiago (Cuba)Elec. Light & Traction 00.. .149 South Shore (Long Island) Traction Co
Richland Co.—See Richland P. S. Co
149
Southwesteru St. Ry.—See Phila. Rye. Co__.110
98 Sao Paulo Electric Co., Ltd.—See Brazilian
Richland Public Service Co
Richmond Light, Heat & Power Co.—See
137
Trac.. Lt. & Power
147 Southwestern (Tex.) Traction Co_
93 Sao Paulo Electric Co.. Ltd.—See Brazilian
Southwestern Traction—See London & Lake
United Gas & Electric Co
135
Richmond Light & RR.Co
Erie Ry. & Transportation Co
144
147
Trac., Lt. A Power
Richmond Ry.& Elec.—See Va. By.& Power..122 Sao Paulo Tram.. Lt. & Power do:."Ltd_..--148 Spokane & Eastern Ry. & Power 00.
133
Richmond & Fairfield (Elec.) Ry.
149 Sapulpa (Okla.)& Inter. Ry
149 Spokane & inland -Empire Ry.—See Spokane
149 Saratoga Traction—See Hudson Valley Ry.__ 3
Richmond & Rappahannock River Ry
& Eastern fly & Pow. Oo.
133
Ridge Avenue Passenger ity
109 Savannah Electric & Power Co
130 Spokane Terminal Co.—See Spokane & Eastern Ry. & Pow. Co.
Ridgewood Gas Co
80 Savannah Electric Co. See Savannah Elec133
Rio do Janeiro Tramway Light & Power.—
tric & Power Co
130 Spokane Traction Co.—See Spokane United
131
See Brazilian Trac , Lt & Power
147 Savannah River Power 00. See Georgia By.
Rys Co
Spokane United Railways
134
Rittersvtile Hotel Co.—See Leh. Val. Tran.00 3
& Power Oo
Springfield & Central Illinois
Riverside & Arlington Ry.—See Pac. Elec. Ry. 69 Savannah Thunderbolt & isle of Hope Ry.—
-149
83
Riverside Traction
See Savannah Electric & Power Co
130 Springfield (III.) Consolidated Railway—See
Union Railway. Gas & Electric
52
Roanoke Ry.& Electric—See Roan. Tr.&Lt 105 Schenectady Ry
123
105 Schuylkill Electric Ry.—See East. Penn. Rys.I19 Springfield & East. St. Ry.—See Springfield
Roanoke Traction & Light Co
Street Railway
134
Rochester Charlotte & Manitou RR.—See
Schuylkill Gas & Electric Co.—See Lehigh
135
124
Rochester & Manitou RR
8 Springfield Electric By.(Vermont) •
Power Securities Corporation
Springfield Light, Fleet & Power Co.
51
Rochester City & Brighton—See N. Y. State
Schuylkill Haven & Orwigsburg St. Ry.—See
123
Rya
East. Penn. Rye
119 Springfield & Northeastern Traction Co.—See •
149 Schuylkill Ry. Co
St. Louis Springfield & Peoria
25
Rochester-Corning-Elmira Traction Co
50
104
Rochester Elec. Ry.—See N. Y.State Rys___ -123 Schuylkill Traction (Girardville. Pa.)
50 Springfield (Onto) Railway
124 Schuylkill Valley Traction
Rochester & Mardian RR
122 Springfield (Ill.) Railway & Light Co.—See
123 Scioto Valley Traction Co
Union Railway, Gas & Electric
52
Rochester Lockport & Buffalo Ry.
38
Springfield Railway Companies.—See New
Rochester Ry.& Light—See N. Y. State Rye..123 Scranton & Binghamton RR.—See Scranton &
123
England Invest. Sec. Co
134
Rochester Ry.—See N. Y. State RYs
Binghamton Ry
10
91
Rochester & Sodus Bay Ry.—See N. Y. State
Scranton & Binghamton By
10 Springfield (Mo.) Railway & Light Co
123 Scranton & Binghamton Trac.0o.-1See ScranSpringfield (Mass.) St. Ry.—See New EngRya
land Invest. Soc. Co
134
Rochester & Suburban Ry.—See N. Y. State
ton & Binghamton RR
10
123 Scranton & Carb. Trac.—See Scranton By.. -105 Springfield (O.) Terminal Ry. & Power Co_ _ 135
Rys
Rochester Syracuse & Eastern R R.—See EmSpringfield (Mo.) Traction—See Springfield
Scranton Dunmore & Mo. Tk.—See Scranton
136
pire State Railroad Corporation
Railway & Light Co
91
By
105
136 Scranton Pass. Ry. See Scranton Ry
Rochester & Syracuse RR
105 Springfield Troy & Piqua Ry.—See Springfield
Rockford Beloit & Janesville RR.—See Union
135
Term. Ry. dc Power 0o.
Scranton & Pittston Tr.—See Scranton By..
....105
Railway. Gas & Electric Co
52 Scranton & Wilkte-Barre Traction
149
131 Springfield (0.) & Washington By
149 Scranton Ry
Rockford City Traction Co
105 Springfield & Xenia Railway_..135
Rockford & Freeport Electric Ry.—See Union
Scranton Traction.—See Scranton Ry
105 Stafford Spgs. St. Ry.—See Connecticut Oo_ 83
52 Sea Beach Ry.—See N Y. Consol. RR
Railway, Gas & Electric Co
18 Stamford Street RR.—See Connecticut Co__ .. 83
Rockford & Interurban Ry.—See Union RailSea Coast Traction—See Atlantic Coast Elec.._ 5 Standard Gas & Elec. Co.—See"lay.& Ind." Sect.
52 Seashore Electric Ry., Asbury Park See Atway, Gas & Electric Co
Stark Electric RR
4
Rock Island Southern Railroad—See Galeslantic Coast Electric Ry
136
5 Staten Island Midland Ry
75 Seattle Electric Co.—See Puget Sound Power
burg & Western RR
Steinway Ry.—See N. Y. & Queens Co By... 69
Rock Island Southern Rallway—See Miss.
& Light Co
131 Sterling Gas & Electric Co.—See Illinois NorValley R.& Power Co
124 Seattle-Everett Trac Co.—See Puget Sound
thern Utilities Co
43
Rockland & Abington Street Railway—See
Power & Light Co
44
131 Staub. East Liverp. & Beav. Vallsy Trac
Eastern Massachusetts Street By. Co
13 Seattle Ry.—See Puget Sound Power & Lt. Co.131 Steubenville Miugo & Ohio Valley Traction—
Rockland Thomaston & Camden Street By.
See Steubenville & Wheeling 'Traction . _116
Seattle & Rainier Valley Ity.
132
—See Knox County Electric Co
124 Second Avenue RR.(New York)
89 Steubenville Wellsburg & Weirton By.
Rockport Street Ry.—See Eastern MassachuSee West Penn Rye. Co
115
Second Avenue Traction—See United Traction113
setts Street By Co
13 Second & Third Streets Passenger Ry
_ _109 Steubenville & Wneeling Traction Co.—See
Rockville Broad Brook & East Windsor St.
Wheeling Traction
115
Sedalia Lt.& Trac. Co.—See City Lt.& Tr.0o. 96
Ry.—See Hartford & Springfield St. Ry_....137 Selma Electric Ry
149 Stillwater & Mechaulcville—See Hudson Val.
Rohrerstown Landisville & Mt. Joy Ry.—See
By
3
Seventeenth & Nineteenth Streets Pass. Ry 109
Lancaster County Ry. & Light Co
136
66 Seventeenth St. Incline Plane Co
114 Stockton Electric RR _ _ _ _
Rome (Ga.) Railway & Light Co
Stockton Terminal & Eastern RR_ _
124 Seymour Public Service Co.—See Inter_149
Roxborough Chestnut Hill & Norristown Ry..122
_State Public Service Co
60 Stroudsburg El. L. & P.—See Lehigh Power
Rutland City Elec. Co.—See Rutland Ry.. Lt.
Securities Corp.
3
Shamokin & Mt. Carmel Transit Co
132
& Power Oo
Sultrbar1elrcSecurlties Co n_.
124 Sharon Canton & Norwood Street By
e12
149
Rutland Railway. Light & Power
Suburban Rapid Transit Co.(Winnipeg)—See
-n 124 Sharon & Newcastle Rys.—See Republic RailWinnipeg Liectric Railway
Rutland St.Ry.—See Rutland Ry..Lt.&P.00.124
148
way & Light
91
Suburban Rap. Trail. St. Fly.. Pittsburgh. Pa 114
Shawnee-Tecumseh Traction Co
Qacramento Northern RR
130 Sheboygan Uas LIgnt Co.—See Wisc. Sec. Co 132 Suffolk Syndicate—See Suffolk Traction Co_ 101.
74
"scramento Short Line Ry.—See San Fran.
Suffolk Traction Co
101
Sheboygan Electric Co.—See Eastern WisOakland Terminal Rye
98
119
consin Electric Co
132 Sudbury & Selinsgrove Electric RR.
Sacramento Valley Electric RR
149 Sheboygan Ry.& Elec. See East. W.E.00_132 Senbury & Susquehanna Ry_
149
Saginaw-Bay City Railway
62 Shelburne Fails & Colvain St. Ry
149 Susquehanna "Cy , Lt. & Power Co._—See
Saginaw Valley Traction—See Saginaw-Bay
United Gas & Electric Corn
__
93
Shelby Co. Water, Gas & Elec.—See InterCity Railway
52
128
State Public Service Co
60 Sutro RR.—See Market St. Ry
St. Albans & Swanton Trac. Oo
125 Shenandoah Traction Co
Sutter Street Ry.—See Market St. By..
St. Charles St. RR.—See NewOrl.Ry.&Lt.00. 85 Sherbrooke St. Ry.—See Sherbrooke By. &149 Sydney & Glace Bay fly .0o.—See Cape
Sg. Francois Count) Electric
149
Breton Electric Co
Power Co
148
St. John (N. B.) Ry
149 Sherbrooke (Que.) Railway & Power
11 8
12
6
146 Syracuse Lake Shore & Nor. KR—See Em-:
St. Johnsbury Elec. Co.—See Twin States Gas
pire State Railroad Corporation
136
Shore Lighting Co
81
& Electric Co
14 Shore Line Electric RR
85 Syracuse Northern Klee Ry.
St. Joseph Ry.. Light. Heat & Power (Mo.) 96 Shore Line Electric By.(Connecticut)
98 Syracuse Rap. Tran Ry.—See N.Y.State Rys.123
St. Louis & Belleville Elec. By
149 Shreveport Railways Co
137
132 Syracuse & Suburban RR
St. Louis Decatur & Champ. Ry.--See BloomSierra & San Francisco Power Oo
128
ington Decatur & Champaign
23 Sioux City Crystal Lake & Rome Elec. Ry___149 Tacoma Ry.& Pwr.—See Puget Sound Power
St. Louis & East St. Louis Elec. By
149 Sioux City Gas & Electric
131
132 a & Lt. Co.
St. Louis East Side Belt Line Terminal Ry.......149 Sioux City Service Co.
Tama & Toledo Ky. Co.—See Iowa By & Lt. 21
St. Louis Elec. Bridge Co
25 Sioux City Traction See Sioux City Ser. 132 Tampa Electric Co
137
St. Louis Elec. Terminal Ry. Co
25
Co
132 Tamaqua & Pottsville Electric RR.—See East.
Bt. Louts Lakewood & Grant Park Elec. Ry 149 Sixth Avenue RR
Penn. Rye_
119
83
*ILL.& Mer.River RR.—See United Rys.Co_125 Slate Belt Electrleo5treet
-- 103 Tarrant CounOy Traction Co.—See Northern
Texas Electric (Jo
Eh. Louts & Northeastern Ry.—See St. Louis
48
Slatington St. Ry.—See Lehigh Valley
Ry- 3
25 Snyder Ave. St Fly.—See Phil Rao. 'Pratt
Springfield dc Peoria
Tarrytown White Plains& Mamaroneck Rs.
125 Somerset Lighting Co.—See Somerset Union106
4-s. Shore Line Electric RR
St. Louis RR.—See United Rye. Co
85
126
St. Louis & St. Charles Bridge Co
& Middlesex Lighting Co
81 Taunton & Brockton Street Railway—See
Eastern Massachusetts Street 10. Co._ -,-- 13
St. Louis St. Charles & Western RR.—See
81
Somerset Union & Mittlitisex 1.1eitinz (1.0
126 Somerville Horse RR.—See West End St. Ry ii Taunton Street Fly—See Eastern MatklachuMissouri Electric RR
Fi .
setts Street Ry Co.
13
St. Louis & Spring. Ry.—See St. Ennis SpringI South Bend & South. Michigan Ry.—See
25 , Southern Michigan Ry
field & Peoria
- ._ .133 Ta.vlor Avenue Railroad—See United Rye.
25 South Bethlehem Electric Light 0O.—Ste
L
_
or
St. Louis Springfield & Peoria RR
V1,644 St. Re
Itv
53
St. Leuls&SuburbanRy.—SeeUnitedRys.Co_125 , Lehigh Valley Transit Co
3 'T..,ref
78
125 South Brooklyn Ry. See Brooklyn Rap. Tr_ 15 Tonnes4n Electric Power Co
8t. Louis Transit--See United Rye
St. Paul City Ry.—See Twin Cilry Rap.Tran_ 74 South Chicago City Ry.—See Cal. &So.Ch.Ry. 28
._
78
149 South Oaroliga Light. Power & Rye
St. Paul Southern Electric Ry
133 Tetinetwal Railway. LightAi Power
Terre tiatite Electric On —See Terre Haute
St. Tammany & New Orleans Rys.& Ferry 00.149 South Covington & Cin. St. Ry.—See CinTraction & Light_
59
103
cinnati Newport & Coviturton Fly.
39
Salem & Pennsgrove Traction Co
Southeastern Ohio Ry. (Zanesville, 0.)
149 Terre Haute Indianapolis & Eastern Traction
Salem & Wakefield—See Eastern MassachuCo__
59
13 South Ferry—See Broadway & Seventh Ave.._ 88
setts Street Railway Co_.
59
South Jersey Gas. Electric & Traction
81 Terre Haute Traction & Light Co_ _
Ry.—See- North Oar.
Salisbury dc Spencer
56 Swan Orange & Maplewood Traction
82 Terre Haute & Western ity Oo.—See Terre
Public Service Co
Haute Traction & Lignt_
59
Salt Lake & Og. Ry —See Bamberger El. RR_126 South Shore & Boston St. Ry.—See Eastern
127 ,
Massachusetts Street By. Co
Salt Lake & Utah RR.
13 Texas 'Fraction Co.—See Texas Electric By. 40
40
South Side Elevated RR., Chicago
31 Tittis it:lectric
Salt Laka Terminal Co—See Salt Lake &
59
127 South Side Gas Co
115 Third Avenue Ry. IN
Utah BR
.
Thirteenth & Fifteenth Streets Passenger RIf- 109
South Side Passenger Ry.—See United TracSan Antonio Gas & Electric—See San Antonio
89
127
tion Co. of Pittsburgh
113 Thirty-fourth Street Crosstown fly
Public Service Co

Page.
Quebec & Saguenay Ry.—See Quebec By..
146
Light. Heat & Power Co
Queens By.0o.—See New York & Qu.0o.Ry. 69
Quincy (I11.) Horse Ry. & Carrying—See
25
Quincy Ry
25
Quincy Railway




6

•

156

INDEX TO RAILWAYS

[VOL. 115.

Page.
Pace
Page.
Urbana Bellefontaine & Northern Ry.—See
West Water St. RR.—See Elmira Wat.,Lt.&RR45
Three Rivers Gas Co.—See Mich. Gas at
Indiana Columbus & Eastern
61
Electric Co
37 Whatcom County Ry. & Lt.—See Puget
142 Urbana & Champaign Ry. Gas & Elec. Co
Sound Pow. & Lt. Co
Tidewater Power Co
21
131
136 Urbana Lt.. Heat & Power Co
24 Wheeling Bridge Co.—See Wheeling Trac. Co.116
Tidewater Southern Railway
149 Utah-Idaho Central RR_
Tiffin & Fostoria Ry
127 Wheeling & Elm Grove it R.—See Wheeling
149 Utah Lt. & Power—See Utah Lt. & Trac. Co-126
Public Service Co
Titusville Traction Co
121
Toledo Bowling Green & Southern Traction _137 Utah Light & By. Co.—See Utah Lt.& Trac 126 Wheeling Public Service Co
121
97 Utah Light & Traction
126 Wheeling (W Va.) Traction CO
Toledo Edison Co
116
nab Power & Lignt.
19
6 Wheeling & Western Ry.—See Wheel. Trac 116
Tol. Fayette& Western.—See Toledo Trac.,
Utica Belt Line St,RR.—See N.Y State Rys.123 Wichita RR. & Light
97
Light & Power
26
'Wets & Mohawk Valley Ry.—See N. Y.
Wichita-Walnut Valley Interurban Ry
Toledo & Findlay St. Ry.—See Toledo Bowl149
State Rys
137
ing Green & Southern
123 Wilkes-Barre Co.—See United Gas & Elec.-- 93
138 Uxbridge & Blackstone St. Ry.—See New
Wilkes-Barre Dallas & Harvey's Lake Ry..._..142
Toledo Fostoria & Findlay
England Invest. & Sec. Co
134 Wilkes Barre & East Side Ry.—See WilkesToledo Fremont & Norwalk Street Ry.—See
Barre Rys Co.
34
Lake Shore Electric_ _
142
Toledo Gas Dec & Heat. Co.—See Toledo
Valdosta (Ga..) St.
149 Wilkes-Barre Gas & Elec. Co.—See United Gas
97 • alley Electric Co. Ry. Duquesne Light 00.115
& Electric
Tree Lt. & Pow Co
93 •
See
Toledo
Wilkes-Barre
Toledo Gas Light & Coke Co.—See
58
Valley Railways
57 Wilkes-Barre & Hazleton Railway
- 97 Valley Street Ry. See Rep. Ry. & Lt
& Hazleton RR
Traction. Light & Power Co
58
-138 ValleyTraction Co.—See Valley Railways.-- 91 Wilkes-Barre & Kingston—See Wilkes-Barre
Toledo & Indiana Railroad
57
Railways Co
Toledo & Indiana Traction Co.—See Toledo
142
Valparsla, & Northern Ry.—See Gary & Val138
& Indiana Ft It Co
paraiso RR
49 Wilkes-Barre & Suburban—See Wilkes-Barre
& Wyoming
Toledo Heat & Light Co.—See Toledo Trac142
Van Brunt Street & Erie Basin RR
19 Wilkes-Barre Valley Traction
97 Vermont Company See Berkshire St.
tion. Light & Power Co
142
84 Wilkes-Barre Railways Co
97 Vermoni Power & Lighting Co. SeeRY
Terminal RR
Toledo Ottawa Beach & Nor Ry
58
Mont
Wilkes-Barre & Wyoming Valley Traction
Toledo Port Clinton & Lakeside By. Co.—See
142
Pellet. a Hares Lieht & Power Co
Q
117 Versailles Tr .ction Co
Northwestern Ohio By & Power Co
116 Wilkinshurg & East Pittsburgh St. Ry.—See
Co.—See Toledo
Monongahela Street Ry. Co
Toledo Railways & Light
114
VIckstetra 1.1304 & Traction Co....._139
97 Vincennes Citizens St. Ry.—See Yin. Elec.Ry.139 Wilkinsburg & Verona Street Ry.—See
Traction, Light & Power Co
97 Vincennes Electric By. Co
Monongahela Street Ry. Co
Toledo Traction, Light & Power
114
139
97 Vincennes Traction Co.—See Vin. Elec Ry 139 Willamelatt Falls Electric Ry.—See Portland
Tol. & Western Ky.—See Tel T., L.& P. 0o.
20 Vincennes Trac & Lt. Co.—See Vin. Elec.
By.. Light ac Power
Tonawanda Electric R ft.—See internat. By
118
20 Virginia Elec. Co.—See Norfolk By. & Lt_ By 13) Willamette Valley Southern Ry.—See Port
Tonawanda St. RR.—See International By
—123
laud Railway Light & Power
25
118
Topeka Edison Co.—See Topeka By.& Li...Co 06 Virginia Passenger & Power Co.—See Virginia
Railway & Power
Topeka Railway
122 Williamsport Gas Co.—See Lehigh Power
Securities Corporation
25 Virginia Railway & Power
3
Topeka Railway & Light Co
122 Willapa Electric
147
Co
113
Toronto Elec. Lt.—See Toronto Power Co
Willimantic Traction Co.—See Conn. Co
147 Wabash
Toronto (Canada) Railway
River Traction Co.—See Indiana
Wilmington (Del.) City Ry.—See Wilmington
147
Toronto Power Co_
47
& Chester Traction
149 ". Service Corp
106
Toronto Suburban Ry
Wakefield & Stoneham St. Ry —See Eastern
Wilmington City Electric Co
106
Toronto & York Radial Ry.—See Toronto RY•
Massachusetts By. Co.
13 Wilm noon & cheater Traction nO
147 Walden &
(Canada) .
- 106
Orange Lake.—See Orange County
Wilmington & Christiana Turnpike Co.—See
83
Torriugion & Win St. Ry.—See Conn. Co
Traction
97
United l'ower & Trans. Co_ .._ •
Transit Development Co.—See Brooklyn RapWallkill Transit Co
73 Wilmington & Edgemore—See Wilm. & Ches- 109
_ 15 Warren & Jamestown
id Transit Co .
139
ter Traction
_
199 Wash. Alexandria &St. By
Mary's Traction Co
105
Trans-St.
Mt. Vernon Ry.—See
Wilmington & Great Valley Turnpike Co.—
122
Trappe & Limerick Electric_ _ __ _
Waanington-Virginia Ry
140
See United Power & Trans. Co
110 Wash. Arlington &
109
Trenton Bristol & Philadelptua Street Ry
Falls Church Ry.—See
Wilmington Light & Power—See Wilmington
Trenton City Bridge Co.—See New Jersey &
Washington-Virginia
140
& Philadelphia Traction Co
138 Washington Baltimore By
106
Pennsylvania Traction Co
& Annapolis Electric
Wilmington Newcastle & oteaware City—See
Trenton Gas & Elect.—See So. Jersey Gas,
RR
141
Wilmington & Philadelphia Traction Co
81 Washington & Canonsburg
105
Electric & Traction
Railway Co
113 Wilmington & Philadelphia Traction.
105
Trenton Ram. & Ewing—See Trenton St. Ry.138 Washington Electric By
149 Wilmington & Philadelphia Turnpike—See
Trenton & New Brunswick RR.—See ElizaWashington (D. C.) Interurban Ry.—See
United l'ower & Trans Co
83
109
beth & Trenton RR
Washington Ry. & Electric
139 Wilmington Southern 'Traction Co.—See Wil149 Washington Elec. St.
Trenton Lakewood & Seacoast By
Ry.—See Wash. &
mington & Philadelphia Traction Co
138
105
Trenton & Mercer Co. Trac. Corp
Canonsburg By.
113 Winchester Ave Ry. See Conn. Co
83
Trenton Pennington & Hopewell Street Ry.—
Washington & Glen Echo BR.—See WashingWindsor Locks Traction Co.—See Hartford
138
See Trenton Street By
ton Railway
139
& Springfield Street fty
138 Washington & & Electric
137
Trenton (N. J.) Street Ry
Great Falls Ry. & Power 0g....149 Windsor & Teem. Elec. Ry.—See
54 Washington &
Detroit
Tr -City 'Ry.—See Tr -City Ry. & Lt. Co
Maryland Ry
140
United Ry
51 Washington & Old Dominion
43
Tri-City Railway & Light Co
141 Winnipeg Electric Ry
149 Wash. & Roca. Ry.—See
148
Trinidad (Port of Spain) El. Co., Ltd
Wash. By.& Elec_ 139 Winnipeg Selkirk & Lake Winnipeg Ry.
91 Washington Railway
See
Trinidad Elec. Transrn. Ry. & Gas
& Electric Co
139
Winnipeg Electric Ry.
2 Washington Spa Springs
148
Troy City Ry.—See United Trac.(Albany)
& Gretta RR
149 Winnipeg Electric Street By.—See Winnipeg
Troy Hill Pass. Ry.—See Fed. St. & P. Valley
Washington Utilities Co
140
113 Wash Virginia
Electric Railway
148
P. Ry.
Ry.Co . ..-140 Winnisimmet RR
138 Washington Water
Troy & New England Ry
14
Power, Spokane
133 Winona (Minn.) Fly. & Light Co.—See Wis90
Tucson Rap. Tr.—See Fed. Lt. & Trac
Washington Westminster &Gettysburg BR-14
consin Ry Light & Pow., rio
149 Wash. Woodside at
66
Tulsa (Okla.) Street Ry___ _ _Forest Glen B. & Power
Winona Gas Light & Coke—See -Wisconsin
139
Tuscaloosa Railway & Utilities Co
Co.—See Washington
Minnesota Light & Power Co
Tuscarawas Trac 0o.—SeeCan.-Ak Cons.RY. 2 Waterbury Light & l'ow.Railway & Electric- A39
66
Co.—See Montpelier
Winona Interurban
107
Twenty-Second St. k All. Ave. Pass. Ry
. 132
& Barre Light & Power Co
9
Twenty-eighth & Twenty-nintn Streets CrossWaterloe Cedar Falls & Northern Rallway_141 Winona & Warsaw Ry.—See Winona Inter... 139
Winston-Salem Power Co.-843 So. Pub. Utilltown RR (N. Y.)—See Mid-Crosstown Ry- 90 Watertown Gas & Electric
Co.—See Wisc. Gas
ties Co
Twenty-third Ave. El. Ry.—Bee San Fran.
& Electric Co
74 Wisconsin Edison Co
95 Waterville Fairfield
Oakland Term. By
& Oakland Ry
141 Wisconsin Electric Power 0o.—See'Milwaukee
89 Waterville &
Twenty-third Street By
Oakland St. ity.—See Waterville
Electric By. & Light Co
149
Twin City Light & Traction Co
Fairfield
141 Wisconsin Electric Ry.—See Eastern Wis- 73
74 Watervliet & Oakland Ry
Twin City Rapid Transit
Turnpike & Railroad.—See United
consin Electric Co
149
Twin Falls (Idaho) Ry
132
Traction (Albany)
2 Wisconsin Gas & Electric
14 Waukegan Rockford & Elgin
Twin State Gas & Electric (30
74
141) Wisconsin Interurban Ry
Traction
149 Waverly Sayre & Athens
TYgarts Valley Traction Co
149
149 Wisconsin-Minnamota Light k Power
149 Waycross (Ga.) Street & Trac. Co.
Tyler City Light &
Suburban Ry
149 Wisconsin Public Service Co.—See fle __- . 66
WisconWebb City Northern Electric Ry.—See Southsin Public Service Corp
Consolidated Elevated Ry.. Chicago_ - 31
55
west Missouri RR
if
___
112 Wisconsin Public Service Corp
'anion Depot RR. (St. Louis, Mo.)—See
Webster & Dudley.—See New England InWisconsinit,,ii...), Light & Power Co
125
United Railways Co
C
r
it
vest. & Sec. Co
131 Wisconsin Securities Co
41 Weehawken Contracting Co
Union Electric Co.—See Dubuque Elec. CO
74
Union Elev. RE.—See Northwestern Elev...... 31 Wells Elec. Light & Power—See Cumberland 80 Wisconsin Traction Light Heat & Power
74
Wisconsin Valley Electric Co
91
Union Gas & Electric
County Power & Light Co
117 Woburn & Reading—See Eastern MassachuUnion Gas Co.( Mc Keesport)—See Phila. Co. 111 Westchester Electric.—See Union Ry, N. Y
141
90
setts Ry. Co.
Union Light. Heat & Power Co.—See Cin13
West Chester Kennett & Wilmington Elec. By. 64 Worcester &
Blackstone Valley St. Ry.—See
39 West Chester Street By
cinnati Newport & Covington
142
New England invest & Sec. Co
31 Westchester Street Kit.
Union Loop—See Union Elevated RR
85 Worcester St Clinton St. Ry.—See New Eng.134
109 West End Passenger Ry.—See Franicford &
Union Passenger Railway
Invest. & Sec Co
134
52
Union Ry.. Gas & Elec
Southwark Phila. City Passenger Hy
99 West End Rapid Transit Co.—See Cincinnati108 Worcester & (3onn. East. Ry.—See Conn. Co_ 83
Union Ry. of New York
Worcester Consolidated Street Ry.—See New
Union Ry.—See Wilmington & Chester Trac 106
Laureneeteirg & Aurora Electric Street Rv._ 31
Eng. Invest. & Sec. Co
134
83 West End Street Ry.—See Boston Elevated
Union Street Ry.(New Bedford. Mass.)
11
35 Wee. bud Si. Ry . —See Law.(Jo. By. & LL_ 66 Worcester & Holden St. Ry.—See New Eng.
Union Traction Co. (Coffeyville. Kan•)
Invest. & Sec Co
134
79 West End Traction. Pittsburgh, Pa.—See
Union Traction Co. (Nashville. Tenn.)
Worcester & Marlborough Street Ry.—See
Union Trac Co.—See Coast Counties G.&EI-130
eittsIturgh Railways Co ... .
112
New Eng.
134
5 West Liberty & Sub. St.—See Pittsburgh Rys_112 Worcester & Invest & Sec. Co
Union Traction Co. of Indiana
Southbridge St. Ry.—See New
Morgantown
P9 Western Light & l'ower Co
Union Tract ion Co. of
97
Eng. Invest. & Soc. Co
107 Western Mass. Street Ry.—See New Eng.
Union Traction (Phliadelpnia, Pa.)
Worcester & Webster Street Ry.—See New 134
Union Utilities Co.—See West Va. Utilities Co.121
Invest. & Sec. Co
134
Eng. Invest. & Sec. Co_
80 Western New York & Pennsylvania Trac. Co.
United Electric Co of N J
Woronoco St. Ry.—See New Eng. Invest. &134
120
United Electric Railways Co
—See Olean Bradford & Salamanca Ry_ _100
United Gas & Elec. Co.—See Twin State Gas
Westernport & Lonaconing—See Cumb. &
Wyec d otte & Detroit River Ry.—See Detroit1
San °
o
34
14
& Electric Co
Westeruport Electric Ry
96
United Railway
42
United Gas & Elec. Co.—S-e Inter-State
Western 01110 Railroad
68
60 Western Ohio Railway —See West. Ohio RR
vadkin River Power Co
Public Service Cu
68
121
9:3 Western Railways & Light Co.—See Illinois
United Gas & Electric Co.(New Jersey)
United Gas & Electric Corporation
93
Traction Co
23 York CountynkersKR Power Co.—See Cumberland 9° '
United Lt. & Rys. (Grand Rapids, (with map) 51 West India Electric Co
County Power & Light Co
144
United National Utilities Co.—See AmeriWest Liberty & Suburban St.—See Pitts. Rys.112 York Lt. & lit. Co —See Cumberland County
117
103 West, Liberty Street Ry.—See Pittsb. & Birm.
can Railways
Power & Light Co
117
United Power & Transportation
109
Traction Co
113 York Railways
143
United Properties Co. of California _ _..149 Westmoreland County Ry _
Youngstown & Ohio River RR_
42
67
United Railroads of San Francisco--See
West Penn Co
115 Youngstown Park & Falls Street Ry.—See
Market Street Railway
128 West Penn Monong Lhela
Republic Ry. & Light Co
117
91
United Rys. & El Co. of Baito _
8 '-Vest Penn l'ower Co
116 Youngstown-Sharon By. & Light.—See PennUnited Rys. Investment Co.(San Francleco) I 28 West Penn Hallways Co_
syivani-Otth E1,-c. Co
115
United Railways Co. (St. Louis)
125 Watt Penn Traction—See West Penn Rys...-115 Youngstown & Lichithern Ry.—See Youngs- 91
United St. Ry. of Cent. N. J.—See Pub. Ser.
West Penn Traction & Water Power Co.—
town & Suburban Ry
143
Railway
81
See %Vest Penn Co
115 Youngstown & Suburban Ry.
143
2 West Philadelptila Passenger Railway
United Traction (Albany)________ ____ _ ._
Irl'Aialcu.ti & Saline Ry.—See Dot. Jack. &
Trac. & Elec.—See United Elec. Rye....120 West Roxbury & Roslindale Street Ry.—See109
United
43
113
Eastern Massachusetts Street By. Co.
United Traction (Pittsburgh)
13 7anesville Electric Co.—See Col. Newark
West Shore Railway
United Traction (Reading, Pa.)—See Reading
84
& Zanesville
37
121 West Side RR.—See ElmiraWater. Lt.& RR.
Transit & Light Co_
--See Du Bola
West Virginia Trac. & Elec. Co.—See West 45 Zanesville Electric Ry.—See Col. Newark &
United Traction St. RR. 00.
Zanesville
37
44
Virginia Utilities Co
Elec. & Tree. Co
121 Zanesville Ry. Light & Power Co.—See Col.
20 West Virginia Utilities Co
United Utilities Corp
121
Newaric & Zaneeville
a 37




n

1
Paterson. 14. 3.

At
Your Service

First National Bank
Statement at Close of Business Sept. 15 1922.

The Seaboard National Bank
with a record of thirty-eight
years of practical banking, with
resources of more than seventy
million dollars,—offers you a
banking service that is dependable, broad and comprehensive
in its scope and especially
adapted to meet your every
particular financial requirement

RESOURCES—
Time Loans
U. S. and Other Bonds
Cash and Balances in Banks
Due from Treasurer U. S
Demand Loans

$3,038,530.67
2,007,841.36
$5,046,372.03
$°,557,210.40
14,800.00
f1,012,225.00

Real Estate
Customers' Liability Acceptances

3,614,235.40
310,930.50
51,963.58
$9,026,501.51

LIABILITIES—
Capital Stock, Surplus and Undivided Profits-- $1,313,910.23
Circulation
29c 997.50
Deposits
7,361,630.20
Acceptances for Customers
54,963.58

THE

$9,026,501.51
OFFICERS.
‘VIIITFIELD W. SMITH, President. ROBERT J. NELDEN, Vice-Pres.
FRED'K D. BOGERT, Cashier.
JOHN B. BROWN, Asst. Cash.
WILFRED E RILEY, Asst. Cashier. JOHN T. DEIGHTON,Asst.Cash.

SEABOARD NATIONAL BANK
OF THE CITY OF NEW YORK
Capital, Surplus and Profits over Eight Millions

PROMPT ATTENTION GIVEN TO COLLECTIONS

1FHE

HANOVER NATIONAL BANK
OF THE CITY OF NEW YORK
ESTABLISHED 1851

SURPLUS & PROFITS, $20,000,000

CAPITAL, $5,000,000

ACTS AS

TRUSTEE, EXECUTOR, ETC.
INQUIRIES INVITED REGARDING SERVICE
IN EVERY FIDUCIARY CAPACITY
47

First National Bank COAL IIRON
NEW YORK
OF JERSEY CITY

Statement at Close of Business Sept. 15 1922.

Statement at Close of Business June 30 1922.
RESOURCES—
Loans and discounts
Reserve with Federal Reserve Bank
Real estate and securities
United States bonds and certificates
Cash and due from banks and bankers

$7,554,486 57
543,450 15
3,768,029 16
2,783,680 00
2,258,364 04
$16,908,009 92

LIABILITIES—
Capital
Surplus and undivided profits

Circulation
Bills Payable
Deposits

$1,000,000 00
1,950,772 45
396,000 00
1,666,900 00
11,894,337 47
$16,908,009 92

EDWARD I. EDWARDS. President
ROBERT E. JENNINGS, Vice-President
HENRY BROWN JR.; Cashier
JACOB R. WORTENDYHE. Amt, Cashier




NATIONAL,
BANK

CLIFFORD A. SPOERL, Asst. Cashier

RESOURCES—
$8,503,055.56
Loans and Discounts
38,169.85
Interest earned but not collected
1,541,782.85
U. S. Liberty Bonds and Treasury Notes
415.000.00
U. S. Bonds a-c Circulation
3,634,863.38
Other Stocks and Bonds
896.250.45
Due from Banks
3,200,000.63
Cash and Exchanges
20,105.04
Furniture and Fixtures
Bank improvements
67,371.25
Customers' Liability. Letters of Credit. Acceptances. &c
97,283.26
$18,413,882.27
LIABILITIES—
Capital
$1,500,000.00
Surplus
1,000,000.00
Undivided Profits
339,626.34
Unearned Discount
41,446.85
Reserve for Taxes and Interest Accrued
135,438.70
Circulation
415,000.00
Deposits
14,057,303.67
Postal Sayings Deposits
238,483.98
U. S. Government Deposits
311,100.00
Rediscounts. Bills Payable on U. S. Liberty Bonds
270,324.50
Letters of Credit and Acceptances a-c Customers
105,158.23
$18,413,882.27
JOHN T. SPROULL. President.
DAVID TAYLOR, Vice-President. WALLACE A. GRAY,Asst. Cash* e.
ALLISON DODD, Vice-President. WILLIAM H.JAQVITH,Asst.Cam0),,
ADDISON H. DAY. Cashier.
ARTHUR A. G.LUDE RS. Trust017.

Member New York Clearing House Association

2

THE MARKET STREET
NATIONAL BANK
1107 MARKET STREET
PHILADELPHIA

Quick to serve

Statement at Close of Business Sept. 15 1922.
RESOURCES—
Loans and Investments
$15,269,722 61
Customers' liability letters of credit and acceptances
314,643 48
Due from banks
2,990,049 50
Exchanges for Clearing House
700,422 68
Cash and reserve
1,817,440 70
$21,092,278 97
LIABILITIES—
Capital stock
S1,000,000 00
Surp:as and net profits
2,350,772 89
Circulation
600,000 00
Letters of credit and acceptances
331,353 00
Deposits
16.810,15308
S21,092,278 97

you at all times

JAMES F. SULLIVAN.
President.
B. LIVINGSTON SULLIVAN.
FRED. F. SPELLISSY,
Vice-President.
Cashier.
W H. MEEKER.
W. H. TRAPPE.
Ass't Cashier.
Ass't Cashier.

Corn Exchange
National Bank

We solicit the accounts of Banks, Corporations,
Firms and Individuals, and will be pleased to meet
or correspond with those who contemplate making
changes or opening new accounts.

Philadelphia

CHARTERED 1832

THE GIRARD NATIONAL BANK
PHILADELPHIA, PA.
STATEMENT AT CLOSE OF BUSINESS SEPT. 15 1922.
RESOURCES
LIABILITIES.
Loans and Investments
$51,616,940.06 Capital
Accrued Interest
156,722.73 Surplus and Net Profits
Acceptances
582,714.51 Reserve for Unearned Discount
Due from Banks
13,920,438.67 Reserve for Taxes and Interest
Exchanges for Clearing House
2,748,878.37 Circulation
Cash and Reserve
4,535,221.05 Acceptances
Deposits
$73,560,915.39

$2,000,000.00
7,560,401.10
256,238.35
285,735.22
1,084,997.50
597,714.51
61,775,828.71
$73,560,915.39

OFFICERS
JOSEPH WAYNE, JR., President
EVAN RANDOLPH, Vice-President
ALFRED BARRATT, Assistant Cashier
ALBERT W. PICKFORD, Vice-President
DAVID J. MYERS, Assistant Cashier
CHARLES M. ASHTON, Cashier
WALTER G. PATTERSON, Assistant Cashier

Accounts of Banks, Bankers, Corporations, Firms and Individuals Received
CORRESPONDENCE SOLICITED.

The Fourth Street National Bank
OF PHILADELPHIA

Capital, Surplus and Undivided Profits, $11,000,000
ACCOUNTS OF BANKS AND BANKERS SOLICITED
EXCEPTIONAL COLLECTION FACILITIES
FOREIGN EXCHANGE BOUGHT AND SOLD
SIDNEY F. TYLER,Chairman of the Board,
E. F. SHANBACKER, President.
-President & Cashier
G. E. STAUFFER, Assistant Cashier.
R. J. CLARK, Vice
-President.
W, A. BULKLEY, Assistant Cashier,
W. K. HARDT, Vice
Vice«President,
A. MacNICHOLL, Assistant Cashier.
W. R. HUMPHREYS,




3

Tradesmens National Bank 1
Philadelphia, IPa.
Report of Condition at the Close of Business Sept. 15 1922.
RESOURCES—
Loans and investments
515,001,973 07
Customer? Liability under Letters of Credit and
Acceptances
4,690,147 63
ilanks
Due from
3,014,309 23
Exchanges for Clearing House
231,824 48
Accrued Interest
28,224 02
Cash and Reserve
1,291,677 79

"Rush!"
In our Transit Department, speed is paramount,
and "Rush!" is a standing order.

$24,258,156 22
LIABILITIES—
Capital
51,000,000 00
Surplus and Undivided Profits
2,343,841 08
Unearned Discount
98,426 71
Reserve for Interest, Taxes, &c
151,914 84
Circulation
495,750 00
Letters of Credit and Acceptances
4,930,862
Rediscounts and Bills Payable—Federal Reserve
Bank
2,067.600 00
Deposits
13,170,360 81

This Department has twenty-six allies—the twentysix railroads that radiate from Saint Louis to the
North, East, South and West. And we have mall
service by airplane to the Eastward.
Our service would please you.

$24,258,156 22

The National Bank of Commerce

OFFICERS
HOWARD A. LOEB, President
H. D. McCARTHY. Vice-President'
E. WILLIAMS. Vice-President & Cashier
S. E. GUGGENHEIM, Vice-President
HOWARD E. DEILY, Assistant Cashier
W. G. JOLLEY, Assistant Cashier
J. M. FRIZZELL, Assistant Cashier

In Saint Louis
Resources more than $75,000,000.00

YOUR OBLIGATION TO YOUR DEPOSITOR
HEN your customer constitutes you
in the
of his checks and drafts, your mutual his agent demandcollection
interests
that you
make use of the best and cheapest facilities available.
The best, as well as the least expensive in this connection, is not a mere
matter of opinion.
Our 24-hour Transit
verting collections intoDepartment precludes the loss of time in concash.
We receive all items at par and make no charge for telegraphic transfers.

W

;,
1
i

THE

PHILADELPHIA NATIONAL BANK
Philadelphia, Pa.

SAFE DEPOSIT&TRUST CO. Merchants National Bank
OF BALTIMORE

Chartered 1864

Organized 1867

Capital$1,200,000 Surplus& Profits Over $3,000,000
Acts as Trustee of Corporation Mortgages, Fiscal
Agent for Corporations and Individuals, Transfer
Agent and Registrar. Depositary under plans of
reorganization.
Acts as Executor, Administrator, Guardian,
Trustee, Receiver, Attorney and Agent, being
especially organized for careful management and.
settlement of estates of every character.
SECURITIES HELD ON DEPOSIT FOR OUT-OF-TOWN
CORPORATIONS AND PERSONS.
DIRECTORS,
H. WALTERS, Chairman of Board.
NORMAN JAMES
JOHN J. NELLIGAN, President
SAMUEL M.SHOEMAKER.
JOHN W. MARSHALL, Vice-Pros.
ELISHA II. PERKINS.
ANDREW P. SPAMER, 2d Vice-Pros.
ISAAC M. CATE,
RANDALL,
BLANCHARD
ROBERT GARRETT,
WALDOJNEWCOMER.
GEORGE C. JENKINS.
GEO. B. GAMMIE, Treasurer.
H. H. M. LEE. 3rd Vice-President.
C. R. TUCKER, Asst. Treasurer.
JOSEPH B. KIRBY, 4th Vice-Pres.
BOSLEY, Asst. Treasurer.
JOHN W.




WORCESTER, MASS.
Statement at Close of Business Sept. 15 1922.
ASSETS—
Loans and Discounts
Bonds and Securities
Ranking House
United States Government Securities
Acceptances of Other Banks
Credit Granted on Acceptances
Cash on Hand and in Banks
LIABILITIES—
Capital
Surplus and Undivided Profits
Acceptances for Customers
Acceptances of Other Banks Sold
Circulation
Deposits

$17,569,651 70
3,551,485 79
922,896 45
2,225,772 23
1,064,999 21
346,166 31
3,239,210 86
$29,047,122 64
51,500,000 00
1,355,195 27
118,900 00
1,013,947 44,
1,000,000 00
24,059,079 WI
429,047,122 64

The Largest National Bank in Massachusetts,
Outside of Boston.
F.A. DRURY,President
H. T. TILLSON, Asst. Cashier
C. A. EVANS, Vice-President
J. A. FITZGERALD, Asst. Caahlez
A. R. BRIGHAM. Vice-President N. B. POTTER. Asst. Cashier
W. J. CONLON, Vice-President
R. W. DAVIS, Asst. Cashier
C. S. PUTNAM, Cashier
H. S. BOWKER, Asst. Cashie
H. R. McINTOSH, Assistant to President
C. W. PARKS, Credit Manager

Collections on all New England
Received on Favorable Terms.

4
Atlanta, Ga.

Fort Worth National Bank Atlanta National Bank
FORT WORTH, TEXAS
Statement at Close of Business Sept. 153 1922.

Statement at Close of Business Sept. 15 1922.
RESOURCES—
Loans and Discounts
Overdrafts_
Banking House
United States Bonds to Secure Circulation
Liberty Bonds
Other Bonds
Stock Federal International Banking Co
Revenue Stamps
6% Redemption Fund
Furniture and Fixtures
Federal Reserve Bank Stock
Cash and Due from Banks

$8,435,359 87
21,669 92
300,000 00
600,000 00
1,343,665 00
398,612 79
21,600 00
1,475 00
30,000 00
50,000 00
48.000 00
5,922,366 46
$17,200,499 04

LIABILITIES—
Capital Stock
Surplus and Profits
Circulation
Reserved for Taxes
Dividends Unpaid
U. S. Bonds Borrowed
Deposits

$600,000 00
1,606,020 29
590,600 00
310 21
360 00
137,500 00
14.265,708 54

RESOURCES—
Loans and Discounts
United States Bonds
Other Bonds and Stocks
Banking House and Real Estate
Federal Reserve Bank Stock
Customers Liability Acceptances
Customers Liability Letters of Credit
Cash Due from Banks and U. S. Treasurer

$25,594,877.53
LIABILITIES—
Capital Stock
Surplus and Undivided Profits
Reserved for Taxes and Interest
Circulation
Acceptances for Customers
Letters of Credit
Deposits

51,000,000.00
2,162,936.10
115,635.28
968,400.00
36,485.37
131,158.80
21,180,261.98

$25,594,877.53
OFFICERS
D. B. DeSAISSURE, Asst. Cashier
ROBT. F. MADDOX, President
R. B. CUNNINGHAM, Asst. Cash.
JAS. S. FLOYD, Vice-President
J. F. ALEXANDER, Asst. Cashier
GEO. R. DONOVAN, Vice-Pres.
L. STILLMAN, Asst. Cashier
T. J. PEEPLES, Vice-President
A. N. ANDERSON, Asst. Cashier
J. S. KENNEDY, Cashier
P. M. SMOAK, Asst. Cashier

517,200,499 04
K. M. VAN ZANDT, President
R. W. FENDER, Cashier
ELMO SLEDD, Vice-President
H. P. SANDIDGE, Asst. Cashier
R. E. HARDING, Vice-President
K. V. .TENNINGS, Asst. Cashier
W. M. MASSIE, Vice-President

$17,112,846.14
2,564,602.35
45,998.70
918,020.00
75,000.00
36,485.37
131,158.80
4,710,776.16

ALFRED AUSTELL
J. EPPS BROWN
W. J. DAVIS
S. 0. DOBBS
JAS. L. DICKEY
GEO. R. DONOVAN

DIRECTORS
R. F. MADDOX
H. R. DURAND
DR. W. S. ELKIN L. B. PARKS
W. L. PEEL
JAS. S. FLOYD
J. T. HOLLEMAN J. J. SPALDING
ALBERTaE. THORNTON
E. II. INMAN
S. Y. TUPPER

INCORPORATED

BAN
FRANKLIN WEST OF BROAD, PHILADELPHIA K
CHESTNUT STREET
STATEMENT AT CLOSE OF BUSINESS SEPT. 15 1922.
LIABILITIES
RESOURCES
$46,915,080.51 Capital
Loans and Investments
11,549,034.91 Surplus and net profits
Duo from banks
5,239,385.11 Letters of Credit
Cash and Reserve
3,001,856.07 Discount and Interest Unearned
Exchanges for Clearing House
131,099.35 Reserved for Taxes
Interest earned uncollected
35,792.57 Deposits
Liability under Letters of Credit

$1,500,000.00
5,575,536.18
35,792.57
166,059.01
571,421.93
59,023,438.83

$66,872,248.52
$66,872,248.52
J. R. McALLISTER,President
J. WM. HARDT, Vice-President and Cashier
J. A. HARRIS Jr., Vice-President
W. M. GEHMANN Jr., Assistant Cashier
E. E. SHIELDS, Assistant Cashier
M. D. REINHOLD, Assistant Cashier
DIRECTORS
SAMUEL T. BODINE
HENRY TATNALL
I. RD'THERFORD McALLISTER
FILEDERICH L. BAILY
EFFINGHAM B. MORRIS

PERCY 0. MADEIRA
J. A. HARRIS. JR.
JOHN HAMPTON BARNES
MORRIS L. CLOTHIER
C. S. W. PACKARD

CHARLTON YARNALb
W. W. ATTERBURY
EDGAR 0. FELTON
EDWARD F. BEALE
DANIEL B. WENT2

ARTHUR W. SE WALL
LEWIS LILLIE
JAY COOKE
G. H. FRAZIER
S. E. HUICHINSON

TRAVELERS' LETTERS OF CREDIT ISSUED
FOREIGN EXCHANGE IN ALL ITS BRANCHES

Invites the Accounts of Banks, Bankers, Corporations, Mercantile Firms and Individuals
THE

Merchants National Bank
PROVIDENCE, R. I.
Established 1818

UNITED STATES DEPOSITARY
Statement at Close of Business Sept. 15 1922.
RESOURCES—
Loans and Discounts
United States Bonds
Other Bonds and Securities
Banking House and Vaults
Cash, Due from Banks and U. S. Treasurer

$7,363,180.91
1,507.842.00
1,625,997.39
158,956.02
1,234,561.76
$11,890,538.08

LIABILITIES—
Capital
Surplus and Undivided Profits
Reserved for Taxes slid Interest
National Bank Notes Outstanding
Reserved for Depreciation of Securities
Reserved for Depreciation of Building & Vaults
DOPOSItS

$1,000,000.00
1,574,437.54
165,500.00
983,500.00
240,000.00
62,647.76
7,864,452.08
311,890.538.08

110BERT W. TAFT, President
CHARLES H. N EWELL, Vice-President
MOSES J. BARBER. Vice-President
FRANK A. GREENE, Cashier
W/LLARD I. ANGELL, Assistant CashierCashier
HARRY S. HATHAWAY. Assistant

Collections on points in this Staternade
set and remitted for promptly at low rates.



THE SEABOARD NATIONAL BANK
OF NEW YORK, WITH A CAPITAL,
SURPLUS AND PROFITS OF $10,763,000, OFFERS ITS SERVICES TO MERCANTILE FIRMS, INDIVIDUALS.
BANKS AND CORPORATIONS.
CORRESPONDENCE INVITED.

6
in a position to
UR Bond Department
Oco-operate with financialisinstitutions having
surplus funds to place at interest.
We specialize in carefully selected Corporation, Municipal and Railroad bonds, netting
from 5 to over 7%.
Lists and detailed information furnished
promptly on request.

THE BANK WITH 26 BRANCHES
HROUGH its system of twenty-six
.1. branches, The Peoples State Bank is in intimate contact with every section of Detroit. Its
connection with all parts of the Detroit industrial
community is direct.

T

Chicago Trust Company
OFFICERS

This closely-knit system of branches, each a
complete bank in itself, as well as its vast resources, and the wide 'xperience of its personnel,
fit The Peoples State Bank in unusual degree
to act as your Detroit connection.
Capital, Surplus and Undivided Profits over $14,000,000
RESOURCES OVER ONE HUNDRED MILLION DOLLARS

tOgsOATE BANKr
THE 3
R

LUCIUS TETER
JOHN W. O'LEARY
EDWARD P. BAILEY
JOHN A. McCORMICK
F. 0. BIRNEY
C. H. FOX
FREDERIC S. POPE
MAX STEINER
0. W. BLACKWELL
WILLARD F. HOPKINS
WILLIAM T. ANDERSON
ROY K. THOMAS
J. W. MARSHALL
ARTHUR B. CODY
HIRAM S. CODY
D. D. KLEDER

President
Vice-President
Vice-President
Vice-President
Vice-President
Vice-President
Cashier
Asst Cashier
Asst. Cashier
Secretary
Asst. Secretary
Trust Officer
Mgr. Bond Department
1 Associate Managers
;Real Estate A4oan Dept.
Auditor

DETROIT, MICHIGAN

The Corn Exchange National Bank
OF CHICAGO
STATEMENT AT CLOSE OF BUSINESS SEPT.
RESOURCES.
$53,021,912.89
TAN* Loans__
18,090,395.65
•Amend Loans
$71,112,308.54
Jnited States Bonds and Certificates of Indebtedness 9,880,445.08
3,740,549.27
alther Bonds
1,344.172.13
Illinois Merchants Bank Bldg
Bank
450,000.00
Stockin Federal R
394,349.93
Customers' Liability on Letters of Credit
1.791.980.44
Customers' Liability on Acceptances
Clearing
Sash on Hand and Checks for
$5,295,015.67
House
9,221,225.31
late from Federal Reserve Bank
16,119,138.20
from Banks
30,635,379.18

15 1922.
LIABILITIES.

Capital
Surplus ___
Undivided Profits
Dividends Unpaid
Reserved for Taxes
Liability on Letters of Credit
Liability on Acceptances
Unearned Interest
Deposits'Banks and Bankers
'Individual_

$5,000,000.00
10,000,000.00
1.932,085.01
568.00
255,314.76
394.349.93
1,791,980.44
342,298.98
$33,290,948.54
66,341,538.91

99,632,487.45

$119,349,184.57
OFFICERS
ERNEST A. HAMILL. Chairman of the Board
res
JAMES G. WAKEFIELD, Vice-President
EDMUND'D. HULBERT, Pident
EDWARD F. SCHOENECK. Cashier
CHARLES L. HUTCHINSON. Vice-Presideni
LEWIS E. GARY, Asst. Cashier
W
OEN T. REEVES, JR.. Vice-President
J. A. WALKER, Asst. Cashier
J. EDWARD MAASS, Vice-President
CHARLES NOVAK, Asst. Cashier
NORMAN J. FORD Vice-President
HUGH J. SINCLAIR. Asst. Cashier
DIRECTORS
J. H.SELZ
CLYDE M.CARR
CHARLES H. HULBURD
WATSON F. BLAIR
HENRY P. CROWELL
C. B BORLAND
CHARLES L. HUTCHINSON ROBERT J. THORNE
CHARLES H. WACKB
ERNEST A. HAMILL
JOHN J. MITCHELL
EDWARD B. BUTLER
EDMUND D. HULBERT
MARTIN A. RYERSON
BENJAMIN CARPETNEt.

LETTERS

FOREIGN EXCHANGE

$119,349,184.57

CABLE TRANSFERS

OF CREDIT

THE

Citizens National Bank Anglo & London Paris
OF LOS ANGELES, CAL.
National Bank
Francisco
Statement at Close of Business June

30 1922.

RESOURCES—
$22,721,789.51
Loans and Discounts
1,492.092.49
U. S. Bonds and Treasury Certificates
75,000.00
Federal Reserve Bank Stock
&c2,606.333.59
Bonds, Securities,
Stock in Commercial Fireproof Building Co.
260,000.00
(Bank Building)
100.00
Other Real Estate Owned
309,479.87
Customers' Liability on Letters of Credit
66S.33.75
Account
Acceptance
100,000.00
Furniture and Fixtures
37.500.00
Five Per Cent Fund
5,740.00
Other Assets
156,532.56
Interest Earned Uncollected
8,922.834.11
and Due from Banks
Cash
$36,754,355.88
LIABILITIES—
$1,800,000.00
Capital Stock
1,601.166.37
Surplus and Undivided Profits
51,791.95
Reserved for Taxes and Interest
Circulation729.600.00
328.180.00
Letters of Credit
66,953.75
Acceptances
25,227.79
Discounts Collected Unearned
32,151.436.02
Deposits
$36,754,355.83
GEO. E. F. DUFFET, Asst. Cashier
A. J. WATERS. President
BUGBEE. Asst. Cashier
E.T.PETTIGREW,Vice-President GEO.IVEY. Asst. Cashier
L. 0.
J. M. RUGG, Vice-President
F. R. ALVORD, Asst. Cashier
vtee-Prestdent
W. J. DORAN,
F. E. PRIOR, Asst. Cashier
I. R. CLARK. Vice-President
Asst. Cashier
M. J. MONNETTE, Vice-President J. BURBAW,
S. S. PARSONS, Auditor
H. D.kIVEY, Cashier

Exceptional facilities for handling
collections on all California points




Of San

Statement at Close of Business Sept. 15
RESOURCES—
Loans and Discounts
U. S. Bonds to secure Circulation
Other U. S. Bonds and Certificates
Other Bonds
Other Assets
Customers' Liability on Letters of Credit
Drafts in Transit
Cash and Sight Exchange

1922.
$45,885,991.57
4,000,000.00
4,742,827.72
7,393,080.20
1,959.893.94
10.750.171.10
1,375,684.20
27,758,046.17
$103,865,694.90

LIABILITIES—
$5,000,000.00
Capital Stock
3,511,379.73
Surplus and Undivided Profits
3,950,000.00
Circulation
Letters of Credit, Domestic and Foreign, and 10,750,171.10
Acceptances
1,649,252.98
Other Liabilities
78,575,891.09
Deposits
694.90
$103,865,
HERBERT FLEISFIHACKER,Pres. J. W. HARRISON, Asst. Vice-Pres.
MORTIMER FLEISHHACKER, E.R.ALEXANDER,Asst. V.-Pres.
Vice-President GEO. A. VAN SMITH, Asst. Cash.
J. FRIEDLANDER, Vice-President J. G. ANDERTON, Asst.Cash.&See
EUGENE PLUNKETT. Asst. Cash
C. F. HUNT, Vice-President
L. L. GOODRICH, Asst. Vice Pres.
HARRY COE, Vice-President
& Cash. L. J. AUBERT, Asst. Cashier
W.E. WILCOX, Vice-Pres.
J. W.LILIENTHAL JR., Vice-Pres. F. J. HOAGLAND, Asst. Cashier
V. R. PENTECOST, Asst. Cashier
FRED F. OUER, Asst. Vice-Pres.
V. KLINKER, Asst. Vice-President C. E. BAEN. Asst. Cashier
F. L. MOSS. Asst. Cashier
J. S. CURRAN.Asst.Vice-Preside

6

The National Bank of the Republic
OF CHICAGO
CONDITION AT CLOSE OF BUSINESS SEPT. 15 1022
RESOURCES

LIABILITIES

Loans

$20,916,776.04
UnitedIStates and Other Bonds
2,518,566.03
Other Securities, &c
53.893.50
Stock of Federal Reserve Bank
90,600.00
Liability on Bills Purchased
1,264,400.00
Customers' Liability Account of Acceptances
138,468.79
CashLarthExchange
8,103,216.43

Total

533,085,320.79

JOHN A. LYNCH, President
GEORGE WOODRUFF. Vice-President
ROBERT M. McKINNEY, Vice-President
S. W. WHITE, Vice-President
0. H. SWAN. Vice-President and Cashier
WM. C. FREEMAN, Asst. Vice-President

Capital Stock paid in
$2,000,000.00
Surplus
1,000,000.00
Undivided Profits
$754,165.26
Interest Collected in Advance of
Maturity
175.000.00
Contingent Fund
75,000.00
Reserved for Taxes
126,557.21
1,153,888.02
Dividend Checks outstanding
2,868.50
Currency in Circulation
99,700.00
Contingent Liability on other Banks' Bills
Sold
1,264,400.00
Acceptances based on Imports and Exports_
133,468.79
Deposits
27,425,995.48
Total

$33,085,320.79

OFFICERS
LOUIS J. MEAHL, Assistant Cashier
CHAS. S. MACFERRAN, Assistant Cashier
THOS. D. ALLIN, Assistant Cashier
WALTER L. JOHNSON, Assistant Cashier
T. H. O'CONNOR,• Assistant Cashier
H. M. MICHAELSON, Assistant Cashier

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—

BANKS
CHICAGO

Continental and Commercial
National Bank of Chicago

Continental and Commercial
Trust and Savings Bank

_
§

OFFICERS
OFFICERS
George M. Reynolds, Chairman of the Board of Directors
Arthur Reynolds, President
George M. Reynolds, Chairman of the Board of Directors
John J. Abbott
Vice-Pros. Albert S. Martin____Aest. Cashier
Arthur Reynolds, Preellent
John A. Shannon
Cashier George Allan
Asst. Cashier
Ralph Van Vechten__ _ _Vice-Pres. Reuben O. Danielson..._ _Cashier
Robert J. Hercock _.Asst. Cashier J. S. Macferran---_Asst. Cashier
Flex. Robertson
Vice-Pros. Harvey C. Vernon_ _Asst. Cashier
Bona Department
Herman Waldeck
Vice-Pres. Wilber Hattery
Asst. Cashier
Henry C. Olcott _ _ _Vice-President Walter J. Engle.._ _Asst Manager
.
William T. Bruckner..__Vice-Pres. H. Erskine Smith
Asst. Cashier
George W. Pearson__Manager Louis B. Ferguson_ _ Mgr. of Sales
John R. Washburn
Vice-Pr. George A. Jackson Asst. Cashier
es
Trust Department
John F. Crad
Vies-Pros. Henry F.Studt
Asst. Cashier
dockDavid R. Lewis
Vice-Pros. Everett R. McFadden_Asst. Sec''
,
Cyrus A. Barr
Vice-Free. Edward E. Barker_ Asst Cashier
William P.Hopi
Secretary Kinney Smith
Asst. See/
Wilson W. Lampert._ Vice-Pres. W.H. Wilms
Asst. Cashier
Edmund J. Claussen__Aset. Seep
James R. Leavell
Vice-Pros. William F. Denny__ Asst. Cashier
Savings Department
Dan Norman
Vice-Prat. Hiram K. Castlea___Aast. Cashier
John P. V. Murphy.
---Manager D. Edward Jones_ _Asst. Manage!

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BANK AND TRUST COMPANY
STOCKS
NEW YORK AND BROOKLYN

BOUGHT AND SOLD

CLINTON GILBERT
3 WAI

STREET

NEW YORK

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7

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We are always pleased to consider
the underwriting of new issues of
sound securities.

W. G. SOUDERS & CO.
INVESTMENT BANKERS
208 South La Salle Street
CHICAGO
31 Nassau Street
New York

Dime Bank Bldg
Detroit

First National Bank 11Ida
;
1 Milwaukee

CORRESPONDENCE INVITED

Chartered 1822

The Farmers' Loan and Trust Company
NOS. 16, 18, 20 AND 22 WILLIAM STREET, NEW YORK
BRANCH, 476 FIFTH AVENUE

LONDON
15 Cockspur Street, S. W., 1
26 Old Broad Street, E. C., 2

PARIS
41 Boulevard Haussmann
12 Rue des Mathurins

The Company is a legal depositary for moneys paid into
Court, and
Administrator, Trustee, Guardian, Receiver and in all other is authorized to act as Executor,
Fiduciary capacities.
Acts as Trustee under Mortgages made by Railroad
and other Corporations, and as Transfer
Agent and Registrar of Stocks and Bonds.
Receives deposits upon Certificates of Deposit, or subject
to check, and allows interest on daily
balances.
Manages Real Estate and lends money on Bond and
Mortgage.
Will act as Agent in the transaction of any approved
financial business.
Depositary for Legal Reserves of State Banks and also
for moneys of the City of New York.
Fiscal Agent for States, Counties and Cities.

LETTERS OF CREDIT, FOREIGN EXCHANGE, CABLE
TRANSFERS
Charles A. Peabody
Franklin D. Locke
John G. Agar
Francis M. Bacon, Jr.
Robert L. Gerry
James H. Perkins

Samuel Sloan,
Augustus V. Heely,
William B. Cardozo,
Cornelius R. Agnew,
William A. Duncan,
Horace F. Howland,
Henry King Smith,
D. J. Palmer
Harry D. Sammis,

DIRECTORS
Parker D. Handy
Edwin S. Marston
Augustus V. Heely
Lewis Iselin
Paul M. Warburg
OFFICERS
JAMES H. PERKINS, President
Vice-President
J. C. Talley
Vice-Pres. & Secy.
Edward J. Boyd,
Vice-President
Irving H. Meehan,
Vice-President
James B. Little,
Vice-President
William A. Wilson,
Vice-President
S. Sloan Colt,
Vice-President
Francis W. Myers,
Mgr. Foreign Dept.
Thomas M. Godwin,
Asst. Secretary
Thomas A. Finn,

Henry R. Taylor
Ogden Mills
Frederick Osborn
Eustis Paine
Percy R. Pyne, 2nd
Samuel Sloan

Asst. Secretary
Asst. Secretary
Asst. Secretary
Asst. Secretary
Asst. Secretary
Asst. Secretary
Amt. Secretary
Asst. Secretary
Mgr. Credit Dept.

AUGUST BELMONT & CO.
45 Cedar
Street
NEW YORK

Draw Bills of Exchange and Make Cable Transfers
Issue Letters of Credit for Travelers, Available
in All Parts of the World
COLLECTIONS IN ALL COUNTRIES
Receive deposits of corporations and individuals, subject to check or by
special
and allow interest. Securities and other, real and personal, property received arrangement,
and managed.
Coupons, dividends and interest collected and remitted, or invested, under careful advice.
Special attention given to investments of all kinds. Execute orders for purchase and sale of
bonds and stocks in all markets, domestic and foreign.

Messrs. Bernardo Jurado-Blanco
CREDIT INFORMATION OFFICE

CARACAS, VENEZUELA, S. A.
Cable Address REDIT.

P.O. B. 304.

Codes: ALL

Caracas Office; Plaza de La Pastora, 16 (2nd Floor)
La Guayra Office: Plaza Vargas, No. 202. Telephone 116.
FINANCIAL DEPARTMENT.
Information regarding credit and solvency of commercial houses. Information on special lines of business or on merchants interested
in same or in a position to buy, sell, represent, import and export merchandise and products. Names, capital, magnitude, reliability
and credit of Importers, Exporters and Agriculturists. Judicial and extra-judicial collections.

CONDITIONS.
Yearly subscription, $12.00 (10 informations). The subscriber has the right to request whatever information he may require during
that lapse of time. Information requested by firms who are not subscribers, $2.00 each time requested. Information is not given to, nor
subscriptions accepted from, private persons.
We accept Representations and Sole Agencies in Venezuela of only first-class Firms, and offer the best banking and
commercial References. We undertake orders for all merchandise put on the market.