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fittators’ inipi finrut
OF THE
^ OMMERCIAL & ] p INANClAL ^ HRONICLE.
[Entered according to act o f Congress, In the year 1888, by Wk . B. Dana & Co., In the office o f the Librarian o f Congress, Washington, D.C.]
Y O L .
48.
I N V E S T O R S ’
N E W
Y O R K ,
O C T O B E R
S U P P L E M E N T .
TERM S:
The Supplem ent Is published on the last Saturday of every other
month—viz., February, April, June, August, October and December;
and one copy of each Issue Is furnished, ■without extra charge, to ali
regular subscribers of the Com m ercial and F inancial Chronicle .
Additional copies of any issue are sold to subscribers at 50 cents each,
and to persons not subscribers at $ l each. No subscriptions are taken
for the I nvestors ’ S upplement apart from the Chronicle . Annual
subscription price to the Ch ro nicle , including the I nvestors ’ S u pple
MENT, is $10 20.
W I L L I A M B . D A N A & CO., P u b lish ers,
79 <&81 William Street, New York.
30,
1886.
LAND SETTLEMENTS AND RAILROAD
DEVELOPMENT.
One of the most prominent factors in the extension of
railroad mileage in the United States, with, the remarkable
development and prosperity attending it, consists in the
opening up and settlement of a vast territory of new land.
If we take any of the well-known systems like the M il
waukee & St. Paul, the Chicago & Northwestern, the
RAILROAD MAPS IN THE SUPPLEMENT.
Burlington & Quincy, the Atchison Topeka & Santa Fe,
we find that their progress and development during the
The railroad maps now published in the S u p p l e m e n t
include the following roads.
Ma p.
. _
P ag e .
Alabama Great Southern. See Cincinnati N. 0. & T. P ....................... 36
Atchison Topeka & Santa Fe.......... ................ ....................................... 15
Atlantic & Pacific. See Atchiaon Topeka & Santa Fe.......................... 13
Baltimor*- & Ohio............................
18
Canadian Pacific.....................
22
California -outhern. See Atchison Topeka & Santa Fe....................... 15
Cedar Falls & Minn. See III. Cen.......................... .............................. 49
Central Branch Union Pacific. See Missouri Pacific .......................... 63
Central Pacific. See Southern Pacific...................................................... 86
Chesapeake & Ohio......................................................................................25
Chesapeake Ohio & Southwestern. See Chesapeake & Ohio............... 25
Chicago & Eastern Illinois......................................................................... 2 7
Chicago Milwaukee & St. Paul.........................: ...................................... 2 «
Chicago & Northwestern.............................................................................31
Chicago St. Louis & Pittsburg. See Penn. R R ...................................... 75
Chicago St. Pan! Mmn. & Omaha. See Chicago & Northwestern....... 31
Cincinnati Indianapolis St. L<iuis & Chicago........ ............................. 3 4
Cincinnati New Orleans & Texas Pacific .............................................3 6
Cincinnati Washington & Balt. See Baltimore & Ohio........................ 18
9t
Colorado Central. See Union P acific.................................
Columbus Hocking Valley & Toledo.......... ....................
39
Delaware Lackawanna & Western............................................................ 41
Denver South Park & Pacific. See Union Pacific___ ________ ______ 9 L
Dubuque & Sioux City. See Illinois Central.......................................... 49
East Tennessee Virginia & G eorgia......................................................... 45
Eiizaoetu. Lexington & Big S»ndy. See Ches. & O hio......................... 25
Erie & Pittsburg, see Penn R R .............................................................. 75
Evansville l'erie Haute a Chicago. See Chicago <fc Eastern 111........ 27
Galveston Harrisburg & San Antonio. See Southern Pacific............. 86
Grand Rapids <& Indiana. See Pennsylvania RR................................. 75
47
Golf Colorado & Santa F e ...................................................
Houston & Texas Central. See Southern Pacific.................................. 86
Illinois Central......................................................................
49
International & Great Northern. See Missouri P a cific....................... 6.3
Iowa Fails & Sioux City, see Uiinois Central....................................... 49
Kentucky Central. See Ches. A O h i o .. . . . . . . . ............ ......................... 25
Louisville & N ishville.............................. .................................. ............55
Louisville New Orleans & Texas................................................................67
Mem phi' & Charleston. See East Tennessee Virginia & Georgia. . . . 4 >
Mineral R ange.............................................................................................. 59
Minnesota <» Northwestern.......... ............................................................ 61
Missouri Kansas & Texas, see Missouri P acific.................................. 6 >
Missouri Pacific................ 1........................................................................ 6 3
Mohi.e & Montgomery. See Louisville & Nashville............................. 55
Nashville Chattanooga & et. Louis, see Louisville & Nashville........ 55
Nashville & Decatur. See Louisville & Nashville................................ 55
New York Lackawanna & Western. See Del. Lack. & West.............. 41
Norfolk & Western.................................................................................... 69
Northern Central, see Penn. R R .................................. ............... ........ 75
Northern Pacific................
72
Oregon Short Line. See Union Pacific........ ................................ ........ 9 1
Ohio A Mississippi. See Baltimore & Ohio........................................... 18
Pennsylvania.....................................................
75
Philadelphia & Erie. See Penn R R ............................................ ........... 7s
Pittsburg Cleveland & Toledo. See Baltimore & O hio........ ............... 18
Pittsburg ( inciunati & St. Louis. See Penn. RR .................................. 75
Pittsburg Ft. Wayne <&Chicago. See Penn. R R ...................
75
Pittsburg & Western. See Baltimore & Ohio........................................ 18
Shenandoah Valley. See Norfolk & Western......................................... 6«
South <&North Alabama. See Louisville & Nashville......................... 55
St. Louis & San Francisco...........................................................................81
St. Louis Vand lia & Terre Haute. See Penn. R R ................................ 75
St. Paul Minneapolis & Manitoba........................................................... ¿ 8 3
Southern Pacific...............................
8«
u oledo & Ohio Central. See Columbus Hocking Valley & Toledo. . . . 39
Toledo St. Louis & Kansas City................................................................. 9 0
Texas & Pacific. See Missouri Pacific................................................ 6 <
Toledo Ann Arbor & North Mich.............................................
89
Union Pacific*,........................................
91
Uiah Central. See Union Pacific
....... .................................. .
91
Utah & Northern. See Union P a cific.................................................... 91
Vicksburg & Meridian. See Cinn. New Orleans <fe Texas Pacific......... 36
Vioasburg Shreveport & Pacifio. See Cinn. New Orleans & Tex. Pao. 36
last six or seven years has been something marvellous ;
and if we go one step further, and trace this development
and progress back to its causes, we find that it owes its
origin very largely to the opening up of new and fertile
sections of country previously unoccupied.
In the case
of a system like the St. Paul Minneapolis & Manitoba,
and others similarly situated, the influence of this agency
is too patent to need demonstration.
Every one knows
how striking has been the development of the district
drained by that road, and how pronounced the influx
of
new settlers.
The wonderful
growth of the twin
cities, Minneapolis and St. Paul, attests the truth of that
fact.
Of course, in a measure, the opening up of new terri
tory has followed simply from the extension of the rail
road mileage, making districts accessible that were previ
ously very hard to reach— the railroad being in this sense
the pioneer of progress ; but it is also true that the occu
pation of new land
and the building of new mileage go
hand in hand, and are inter-dependent, neither being able
to advance very far without the aid of the other.
There
could be no very great or continuous opening up of new
territory without the necessary facilities in the way of
railroads.
On the other hand, most new mileage on the
borders of our Western territory is prosecuted with the
idea and expectation that it is to pave the way for an
accession of new settlers and an extension of the area of
land devoted to their uses.
The success of the enterprise
depends upon the realization of that idea.
expectation be disappointed,
and
Should the
the railroad fail of
getting that support from the extension of local indus
tries and local activity upon which
it so confidently
counted, railroad building of course would have to stop
right there, and no further move in the same direction
would be possible until the growth of our industries had
again overtaken the growth of transportation facilities.
W e have had one or two such periods— that is, when new
avenues of transportation had been multiplied so fast
that for the time being it seemed as if all future wanti
had been most liberally discountedi and the venture would
INVESTORS’ SUPPLEMENT*
fVojj. XLIIt.
therefore prove permanently unprofitable— but in each
tries of course) and disposals under the homestead and
case there was a quick recovery, and the country soon
timber-culture laws.
grew up to give employment to all the existing facilities,
fied to the railroads from year to year, while the amount
and to require more besides.
of swamp lands patented to the Scates is also considerable
Large quantities of land are certi
at this time it is particularly desirable to know at times; but these being mere transfers from the hands
how the occupation and settlement of new lands is pro of the Government to those of other parties they have no
gressing, for among the larger systems of railroads the bearing upon the question of the extent of new land
Just
work of adding new mileage is going on at a rate and
entered upon for actual occupation and settlement.
on a scale of magnitude hardly
are the yearly aggregates made up in this way back to
1877 :
ever before equaled.
Consider for a moment the amount of new mileage laid
out by the Atchison,
the Minneapolis & Manitoba, the Tear.
Tear.
1881....................
1880 .....................
1879....................
1878...................
1877................ .
Acres.
1886 .....................
Bock Island, ihe Missouri Pacific, or indeed any of the 1885....................
more prominent
1884 ....................
companies.
The extensions that these 1883.....................
corporations are now building or contemplate building in 1882.....................
the immediate future reaches thousands of miles.
Bemem-
Thus the takings in the late
Here
Acres.
year reached oyer 18£
ber, too, that construction work is done much more rapidly
million acres, and were larger than in any previous year
than formerly— that
of the decade, and the same would be true if the com
as the
result
of
experience and
greater proficiency, we lay as much track now in a week
parison were extended back to
as we used to lay in a month.
other year that had a total nearly as large.
This is a factor in the
1870.
1884 is the only
The increase
situation that has hardly as yet attracted enough atten on 1885 is about 2£ million acres, and on 1882 nearly six
tion. Nor has the fact that under the low rate under million acres. Prior to 1878 the takings ranged only as
which the large companies can borrow money, the induce-
high as 3 £ to 6 millions, from which it can be seen how
ment to enter upon the work
much
greatly increased.
of
new construction is
Thus the position of affairs is practi
heavier the annual quantity is now.
To give a
better idea of the extent of the takings in the late year,
cally this : a large number of companies are actively at
we may say that the
work simultaneously building new mileage in extensions
upon represent an area almost as large as the State of
or branches, and the question is whether new land is being
Maine,
opened up on a scale commensurate with the increased
Hampshire,
transportation facilities in prospect.
Of course,
and
greater
18,309,942 acres actually entered
than
Vermont,
the
combined
area of New
Massachusetts and Bhode Island.
in a A nd this covers only the sales of Government lands. I f
we had in addition the sales of railroad lands, the figures
larger sense the opening of new areas is important, not
only to railroad interests, but to every
industrial in
terest of the country, near and remote, for it is obvious
would be even more striking.
It is evident, too, that so
long as the takings continue at that rate the field of rail
the development of our "Western territory all road operations must constantly expand, and the prospect
sections must share and are sharing— production and of increased traffic be good.
But the disposals were large, not alone during 1886,
consumption are both increased, new wants have to be
that in
met and supplied, a larger interchange of
commodities
but during the whole of the last four years.
For these
takes place, manufactories and mines have to be worked on
four years the takings foot up 69,457,559 acres.
a greater scale, and the whole field of industrial operations
of this land is only just beginning to bear full results,
Much
much more will hardly begin to give an account of itself
is extended and enlarged.
In view of these facts and the bearing they have upon
the situation, comparative figures setting out the progress
for a year or two yet.
We
have
therefore excellent
promise of continuous development for some time to come.
of this movement from year to year, and relatively its
The 69£ million acres disposed of in the four years repre
present extent, will be both useful and interesting, though
sent an area greater than that of Ohio
in the nature of things the statistics may be only partial
gether, and almost as great as that of the New England
and Illinois to
and cover only one branch of the subject. There are two States, with either New Y o rk or Pennsylvania thrown
Suppose, however, we go back to 1879, cover
classes of land sales, those by the Government and those in.
since
the
resumption
of
specie
by the railroads. W ith regard to the latter no general ing the period
In
statistics are accessible. Some companies furnish informa payments.
acres,
tion as to their own sales, but it is usually incomplete and 453,834
fragmentary, and of course covers only limited districts-
prised
within
that
case
we
an
area
greater
either
Dakota
get
or
takings
than
of
that
Montana,
99,com
almost
W ith regard to the sales by the United States Govern a3 large as that of the whole Middle States and
ment, the figures of the Land Office at Washington ought Maine besides, larger than Kansas and Missouri combined,
to b 9 a pretty reliable guide of the takings from year to and larger also than Ohio, Michigan and Illinois taken
year, and it is to these figures we must confine our pres together. It is only through such comparisons that we
ent inquiry. The statistics in that case are the more val get a proper idea of the magnitude of the figures we are
uable that they can be had for each State and territory
dealing with, and the vast extent of new land which they
separately, so that we can know not only the size of the
indicate as having been opened up to cultivation and set
movement in the aggregate, but see where it is heaviest
tlement.
It will be interesting now to see what sections of the
and what
sections are profiting most by it.
W e have
obtained from the Department at Washington the record country are the most prominent in this noteworthy move
ment towards the settlement of new districts. W e give
of the disposals for the late Government year ended June
30, 1886, and compare the same further below with simi
below a statement of the disposals in each State and ter
lar figures for the corresponding twelve months of six
ritory in which there are or have been any public lands,
previous years, in detail by States and Territories. But the comparison covering the last seven years. I t m a y b e
first we give the total for the whole country for a series stated that in Texas the public lands are held by the
of years past. It should be understood that our intention State, and not the United States; that State, therefore, is not
is to cover only such lands as are presumably entered
embraced in the table.
upon for settlement and development.
pact form a vast amount of information about the sales of
For this reason
we include only sales for cash (embracing pre-emption en
v
public lands.
The compilation presents in com
3
INVESTORS’ SUPPLEMENT.
O ct o b er , 1888.1
---DISPOSALS OF PUBLIC LANDS FOR CASH AND UNDER THE HOMESTEAD AND
TIMBER-CULTURE LAWS BY FISCAL YEARS FROM JULY 1 ,
1879, TO JUNE 30, 1886.
- ‘
*
"
........ — '
—-
a m illion; and previously it occupied a comparatively
insignificant position.
The large takings now indicate
that even in a mining country like Colorado much desir
States and
Territorl’s
1880.
1881.
Acres. Acres.
Alabam a.. 350,380 400,913
17,124
Arizona.
16,907
Arkansas. 391,407 437,015
California. 351,955 415,465
Colorado.. 186,437 215,' 42
D akota.... 3,258,493 2,533,236
Florida....
94,9^5 147,973
Idaho...... 120,323 133,908
6,076
Iowa.........
9,030
40
677
Kansas__ 1,516,469 769,156
Louisiana.
91*407 117,636
Michigan.. 210,340 299,638
Minnesota 851,027 843,068
Mississi ’pi
65,727 130,976
M issouri..
98,50!- 112,849
M ontana.. 109,969 103,073
Nebraska. 1,324,718 643,200
19,495
N evada...
31,537
N. Mexico.
38,360 88,659
Acres.
324,131
21,157
424,558
493,336
275,557
4,355,039
321,504
166,948
10,045
40
634
604,061
4«6,476
512,328
1,085,737
358,217
263,165
181,690
884,028
10,827
103,739
5,107
304,199
83,009
444,165
447,26
58,307
1883.
1884.
Acres.
Acres.
338,998 386,093
49,4'5
57,428
460,656 316,942
704,274 935,416
410,919 516,467
6,689,59> 6,069,307
609,054
434,749
232,640
269,451
6,597
40
57
6,308
238
808,655 985,193
487,599 520,644
320,537 273,693
937,876
1,292,989
239,624
516,511
236,080 403,582
246,458 418,302
1,315,104 2,615,101
3,4'7
4,990
248,836 215,876
55
209
499,770 535,943
111,714
120,868
915,128
763,779
454,002 293,572
187,409 595,787
1885.
1886.
able land is being found by settlers.
But returning to
the four States— Kansas, Nebraska, Dakota and Minne
Acres.
Acres.
191,476 224,913 sota— which we have above referred to as having had the
160,076
144,393
244,263
276,8 >1 bulk of the takings in all recent years, here is an exhibit
897,834 954,193
552,599 1,254,348 of their disposals during the last seven years, with the
3,744,136 3,006,449 total mileage in operation in the same States on the 1st o f
273,031
216,258
284,903 262,450 January of each year.
5,645
4,257
State or
1880.
1881.
1884.
1882.
1883.
1885.
1888.
Territory.
2,832,401 5,541,251
Acres. Ac* es. Acres. A cre-,
Acres
Acres.
Acres.
159,590 140,756
104,329 Dakota Ter. 2,258,493 2,533,236 4,355,038 6.689,594 6,069,307 3,744,136 3,006,449
81,773
411,539
505,101 411,539 Minnesota . 851,027 813,968 1,085,736 1,292,969 937,876 505,101
111,000
127,779 Nebraska .. 1,324,718 643,200 884.028 1.315,104 2,615,101 3,515,705 3,037,714
769,156
904,061 808,655 985.193 2,832,401 5,541,251
279,994
264,576 Kansas . ... 1,516.469
318,601
263,974
Tot s i ...... 5,950,707 4,789,560 7,228.863 10,106,322 10,607,477 10,597,343 11,996,953
3,515,705 3,037,714 Mileage if
3,637
3,411
8,145
9,729
operation.
10,892
13,061
12,137
13,951
14,687
162,505 201,450
407,859
167,730
480,181
166,177
552,807
This shows that notwithstanding the falling off in
495,216
194,835 Dakota, Minnesota and Nebraska— a falling off no doubt
473,044
237,546 in part attributable to the fact that the desirable lands
452,777 left in those districts are now so greatly reduced— the gain
Grand tot. 9,090,495 8,379,518 12,526,262 16,830,455 18,233,821 18,083,341 18,309,942 in Kansas has been more than sufficient to offset the whole
Oregon__
U tah........
W ash.Ter.
W isc’nsin.
W yoming.
239,418 204,734
82,712
97,461
421,297 874,823
167,073 234,>-67
44,247 46,263
1682.
A glance at the above suffices to show whither the tide loss and leave the total for the four States larger than ever
of settlement is most strongly tending. Hitherto Nebraska before, and maintaining their proportion of the takings for
and Dakota have been the sections most favored by the the whole country. Thus the aggregate for the four
movement— and indeed they still hold a very prominent States foots up 11,996,953 acres, in round numbers say 12
position, having each disposed of over three million acres million acres, or about two-thirds of the 18,309,942 acres
in the late fiscal year; but even they are this time thrown for all the States. In the years preceding, it will be seen,
in the shade by Kansas, where the takings reach the enor the entries had been almost as heavy, reaching in 1884
mous aggregate of 5,541,251 acres, being nearly one-third and 1885, alike, over 10£ million acres, and having in 1883
the takings of public lands in the entire country. The been above 10 million acres. Between the 1st of Janu
amount is almost double that of the preceding year, when ary, 1879, and the 1st of January, 1886, railroad mileage
the disposals were 2,832,401 acres ; in fact, the aggregate in these States increased from 6,626 miles to 14,637,
for the whole of the four years preceding does not quite which looks and is large ; but in the last seven years
reach that of 1886. Back in 1879 Kansas also had a 61,277,225 acres of land, according to the above, were dis
leading place, though the movement then was on a much posed of in the same section, which shows both how rail
smaller scale, and the sales only reached 2,784,538 acres ; |road building stimulated the settlement of new lands and
but in the very next year the disposals dropped to 1,516,- how the latter stimulated railroad building. In Iowa the
469 acres, and the State soon yielded its superiority to sales were only 4,257 acres, and in Indiana, Illinois and
Dakota and other Northwestern States. In 1883 and Ohio, nothing ; for no other reason, of course, than that
1884 even larger totals than that now shown for Kansas the public domain in that part of the country is exhausted.
were recorded for Dakota ; but with that exception the
A s regards other sections of the country, the takings in
present total is unexcelled by that of any other State or the South vary from year to year, but they are not large
The 5£ million acres either individually or collectively.
Even Arkansas has
entered upon in the past year represent an area about the less than 300,000 acres. A m ong what may be called the
Territory in the above record.
size of Vermont or New Hampshire— a trifle less; that is, a Pacific States, however, there are some signs of progress.
section of Kansas nearly equal to the area of one of these In California, for instance, the disposals reached almost a
States was opened up to settlement and cultivation in the million acres in the late year, or more than in any other
twelve months in question.
A s is known, the Atchison year in our table. In the previous three years, too, the
laid out a large amount of takings were very large. In Oregon the total is 495,216
additional mileage in this State, and evidently the induce acres, which is heavier than in the previous year, but has
ment for the work is found in this noteworthy occupation been once or twice exceeded. Washington Territory and
Topeka & Santa Fe
has
of new lands.
Wyoming are also below their best previous totals, though
A s already said, Dakota and Nebraska had disposals of both have disposals above 450,000 acres. Montana like
over three million acres each, and in this respect they stand wise is not up to its best previous record, nor are Idaho
next after Kansas. These three, together with Minnesota, and New Mexico, though the latter records much heavier
are the States which have for some years had the bulk of the takings than in the year preceding. But Utah and A r i
takings. This year, however, Colorado has suddenly risen zona both show a decided improyemeut, ROt-Qal!y: iQvei:.the
into prominence, and it records disposals of no less than previous year*, but
1-J- million acres, being the only State having an aggregate entries in Arizona covered only l:# 9 r07' acrbS— in ’ thulatb
heavier than a million acres besides the three first men jrear they reac hed 160,076 acres. - -In-Utah4he-sales
tioned. In both 1884 and 1885 C olo rad o /^
^ 7,461 acres in, 1380, 82,712 acres in
over half a million acres, a,ud in 1883 much-less than -half
1882, a n d in 1.88.6. they were'j W , 8 M
STOCK AND BOND T A B L E S
U N IT E D
DESCRIPTION.
4s o f 1907, coup, and reg., incl. refund, certfs.
4*as o f U-91, coupon and registered..................
3 per cents, reg., including N»vy Pension, f d ...
Currency 6s, registered.........................................
STATES
Author Size or
Amount
par
izing Act.
outstanding.
va<ue. Sepe. 30, *86.
B O N D S.
INTEREST.
When
pay’ble
Rate.
1870 & ’71 $50«&e. $737,969 500 4, coin.
1K70 <fc ’71
50&0. 250,000,000
coin.
July 12,’8 2 50&0. 129,164,000 3, coin.
J’y ’62&’64 lOOO&e.
64,623,512
6
All the Government bonds except the currency sives are redeemable
n coin, what sort of coin not being specified. The fours and four and a
halfs are issued in bonds of $50, $100, $500 and $1,000, both coupon
and registered issues, and the registered bonds also tu pieces or $5.000,
$10,000, $20,or 0 and $50,000. The three per cents are redeemable at the
pleasure of the Government, and are all registered bonds in sizes of
$50, $100, if1,000 and $10.OoO. These bonds when called in are taken
in the order oi their numbers, the hi ¿heat numbeis. or bonds last issued,
being called first. The United States currency sixes are all registered,
issued in pieces of $1,000, $5,000 and $10,000, are payable in ••lawful
STATE
Where payable and by
whom.
Q —J. U. S. Treasury & Sub Treas.
do
do
Q — vi.
Q.—F.
do
do
U. S. Treasury.
J. «& J.
Principal—When
due.
July 1,1907
Sept. 1,1891
At will.
1895-6-7-8-9
money,” and mature as follows: $3,002,000 in 1895, $8,nOO,000 in
1896, $9,712,000 in 1897,$29,904,952m 1898 and$14.004,560 in 1899.
The interest on registered bonds is mailed by oheek directly to the
holders or to any address requested by the registeied hoi iers; the bonds
are transferred by acknowledging the assignment before a notary or
other official specified.
'' Of the above 3 p -r cents, $4,000,000 was paid off Sept. 1, $10,000,000
Sept.. 15, $15.000,000 Oct. 1. $15,001,000 Oct. 16 and $15,000,000 Nov.
1, reducing the above by $¿9,000,000.
S E C U R IT IE S.
Subscribers w ill confer a great favor by g iv in g Im m ediate notice o f any error discovered In these Tables.
DESCRIPTION.
Date of
Bonds.
Alabama—Substitution bonds (A) ($7,000,000).
Substitute b’ds for RR. (B) ($596,000)............
do
for Ala. <fe Chatt. (C) ($1,000,000)
Funding “ obligates” (tax-reo’ble 10-20 yrs.).
Arkansas—Funding bonds of 1869 and 1870..
Funding Bonds 1870 iHolford)..........................
Levee bonds (or warrants)....................... ........
Old debt, including interest to 1884................
To Memphis & Little Rock Railroad...............
To Little Rock <&Fort Smith Railroad............
To Little Rock, Pine Bluffs <feN. Orleans RR ..
To Miss., Ouachita & Red River R a ilroa d___
To Arkansas Central Railroad..........................
California—State Capitol bonds..................
Funded debt bonds of 1873...............................
Connecticut—Bonds, 10-20 y e a r ..........) Coup.
New bonds (sink, fd.) not taxable___$ or reg.
New bonds, reg.
do
do .....................
New bonds, coup, or reg.................
Delaware.—Refund’g bds., ser. “ A,” “ B” «fe“ C”
Bonds, redeemable after June 1,1 89 5 ............
School b o n d s......................................................
D ist.of Columbia—Perm’t imp’t, gold, cou p!!!!
Permanent improvement bonds, coupon........
Bus for fund’g (Act June 10, ’79) coup, or reg.
Fund, b’ds (U.S. guar. .Acts June,’74& Feb. ,’75)
Market stock, registered and coupon...............
Water stock bonds, coupon.............
Wash, fund’g, gld.($628,800 are M.&N ’ 1902).
Florida—State bonds......................................
Gold bonds................................ ! ! ! ! ! ! ! ! ! ! .........
Georgia—^uar. g. bds , act of Sept.’ 15! 1870."!!
Bonds, act of Jan. 18, ’7 2 .................................
Bonds to fund coupons on endorsed" bonds...
Bonds exchanged for endorsed RR. bonds___
Funding bonds, coup. Act Deo. 23, ’ 84..........
State University Bonds......................................
Indiana—Temporary lo a n ........... . . . . . . . ! ! ! ! ! !
School fund bonds (non-negotiable)........ ........
Kansas—Bonds for various State purposes.......
Military loan...........................................
Kentucky—Bonds, gold.........................................
Military bonds............................... ...'.!* *
1876
1876
1876
1880
1869 to ’70
1870
1871
1838 t o ’39
1869
1870
1870
1870
1870
1872
1873
1877
1883
1884
1885
1881
1885
....
1872
1873
1879
1874
1872
1871 to ’73
1872
1871
1873
1870
1872
1876
1877
1885
1882 <fc ’83
1-85
1867 to ’73
1864to ’75
186« to ’69
1884
1864 to ’66
Size or
Amount
par
Outstanding
Value.
$100&c. $6,731,000
100 «fee.
539,000
100 &c.
945,000
....
954,000
1,000
1,850,000
1,000
1,268,000
100 «fee.
1,986,773
1,000
2,491,023
1,000
1,200,000
1,000
1,000,000
1,000
1,200,000
1,000
600,000
1,000
1,350,000
....
250,000
500 «fee.
2,698,000
1,000
1,031,000
1,000
500,000
1,000
1,000,000
1,000
1,740,000
1,000
625,000
....
120,000
....
156,750
500 «fee. 3,484,600
100 &c.
642,300
100 &c.
948,400
50 «fee. 14,033,550
50 &c.
1-1*3,450
1,000
360,000
100 «fee.
1,649,250
100
280,100
100 «fee.
7-7,300
1,000
2,098,000
500 &c.
307,500
1,000
542.000
1,000
2.141,000
1,000
3,455.000
253,000
1,685,000
3,904,783
100 &o.
684,500
___
22 L.500
500,000
174,000
A la b a m a .—The State gave 30-year bonds, dated July 1, ’76, bearing
2 per cent till 1881, then 3 per cent till 1886, 4 per cent till 1896, and 5
per cent for last 10 years, for old bonds, without any allowance for pastdue coupons. Alabama & Chattanooga endorsed bonds ere exchanged
for $1,000,000 of the new bonds, Class C, to bear 2 per cent till 1881,
and 4 per cent for remaining 25 years. For railroad endorsements the
bonds issued bear 5 per cent. In 1880 the new 6 per cent bonds were
to retire old 8 per cent “ State obligations.” Analysis of the
debt and funding operations was given in the Chronicle , V. 24, p. 28.
For the $2,000,000 of State 8 per cent bonds issued to the Ala. <fc Chatt.
RR. under act of Feb. 11, 1870, the State gives thelien on the lands
ranted to that railroad, 500,000 to 1,200.000 acres. The 10-40’s of 1880,
ue in 1900, may be called at par alter 1890. The assessed valu
ation of real estate and personalty was *152,920,115 in 1881, $151,620,551 in 18&2 and $158,518,157 in 1883; tax rate 6ks mills in each
year.
A rk a n sa s.—The State Supreme Court decided Levee bonds of 1869
and 1870 invalid ; nor are the Holfordor the Railroad Aid bonds recog
nized by the State. The State is in default for interest. In Jan., 1883,
a decision was made by the U. S. Circuit Court, substantially holding
the railroad companies responsible for the State bonds issued to them,
but this was reversed and the case appealed to U. S. Supreme Court.
The following are official assessments:
,
Real Estate.
Personal. Tax Rate.
1881...........................................$41,843,803
$58,445.111
7k»
¡■882......................................... 56,979,281
37.101.746
7k»
1883
78,444,227
48,382,167
7
—(V. 39, p. 263; V. 40, p. 119; V. 41 p. 419.)
C aliforn ia.—The State holds in trust for School and Universltv funds
$250,000 Capitol bonds and also bonds of 1873, in all $2,494,500,
leaving only $458,500 in private hands. Assessed valuations and rate
of tax per $1,000 have been:
Years.
.
Real Estate.
Personal. Tax Rate.
1B82. «8 ue- -; ¿A .sU HI.-. ¿<$446^19^940
$120,848,453
$5-96
1883.......... ......................... 558,373,786
167,338,644
4*97
osfcfcwR.
1654*990,o?72-, ■
>166,61-44631
4-52
1885................................. ,..688,311,102
.1 7 1 ,2 0 1 ,2 8 2
5/44
C onnecticut .—The debt or ConfiecQfeut was ail created originally for
war purposes. Assessed valuation and tax rate per $1,000 have been:
Years.
Real Est. & Personal.
Tax Rate.
1882..................................
$342,242,566
$1-25
1883.................................
348,774,879
1-25
1 8 8 4.............................
349,977,339
125
The assessed valuation of real estate is about 70 per cent of the true value.
D elaw are«—These refunding bonds issued July, 1881, take up out*
Standing debt» ISeries “ A” are $160,000» redeemable 1886; series "B t’f
f
Rate.
3 <fec.
5
4 «fee.
6
6
6
7
6
7
7
7
7
7
7 g.
6 g5
3k)
3kl
3
4
4
6
6 g7
5
3’65
7 .
7
6 g7
6 g7 g.
7
7
6
4k)
7
3k)
6
7
7
4
INTEREST.
When
Where Payable and by
Payable
whom.
J.
J.
J.
J.
J.
A
&
&
A
A
Principal—When
Due.
J. N. Y., Am. Exoh. Nat.Bk.
J.
do
do
J.
do
do
J.
Montgomery.
J.
J. A J.
J. A J.
A. A 0.
A. & O.
A. A O.
A. A O.
A. A O.
J. A J.
J. & J.
M. A N.
J. A J.
J. A J.
A. A O.
J. A J.
J. «Ss D.
J. «Ss J.
J. & J.
J. «fe J.
F. <fc A.
J. «fe J.
J. «fe J.
J. <& J.
Jan.
J. «fe J.
Q.—J.
J. «fe J.
J. <fc J.
J. «fe J.
J. <& J.
Various
J. «fe J.
J. «fe J.
July 1,1906
July 1,1906
July 1,1906
Jan. 1, 1900
1899
1900
1900
I860
1899
1900
1900
1900
April, 1900
Sacramento, Treasury.
July. 1887
do
do
1893-94
Hartford, Treasury.
M a y l, 1897
do
do
Jan., 1903
do
do
Jan. 1,1903
do
do
Oct. 1, 1910
Phila.. Phila. Nat. Bank.
1886,1891. 1901
do
do
June 1,1905
Jan. 1, 1901
July 1, 1891
Wash, or N. Y., U. S. Treas.
do
do
July 1, 1891
do
do
July 1, 1899
Aug. 1, 1924
do
do
July 26,1892
do
do
do
do
Oct. 1,1901 <fc ’03
do
do
1892 <fe 1902
Jan. 1, 1901
N. Y.,Park Bk.<&Tallahassee
do
do
Jan. 1,1903
N. Y., Fourth National Bk.
Oct., 1890
May, 1892
do
do
do
do
July 1, 1896
July 1, 1889
do
do
New York <&Atlanta.
July 1, 1915
1932-33
N. Y., Winslow, L. <fc Co.
1895
do
do
N. Y., First Nat. Bank.
1886 to ’95
do
do
1886 to ’99
1905
New York City.
1894-06
$300,000, redeemable July. 1886 to 1891: series “ C,” $165.000, redeem
able July, 1891 to 1901. In addition to above, $83.000 is due Delaware
College. There is no State tax levied, nor assessments made by State
officers. Jan. 1,1885, the live assets exceeded the debt $329,049.
D istrict o f C olu m b ia.—The total assessed value of taxable real
estate and personal property is shown below. The interest and sinking
fund on the 3-65 bonds are provided for by Congress, and the amount is
limited to $15,000,000. Real and personal estate, «fee., has been
assessed as follows:
Years.
Real Estate.
Personal.
Tax Rate.
1884
............................... $90,496,331
$10,987,443
15
.............................. 93,491,891
12,715,686
15
1885
1886
.............................. 96,054,301
12,532,997
15
F lo r id a .—The Binking funds hold $207,600 of above bonds, and the
school, «fee., funds held $594,700 more, leaving amount in individuals’
hands only $472,700. Coupons of all bonds are receivable for taxes. Real
and personal property assessed in 1883, $55,008,560; tax rate 4 mills in
1884, $60,042,655; tax rate 4 mills.
G eorgia.—The constitutional amendment in 1877 declared void
several issues of bonds and railroad endorsements. The 5 p. o. bonds,
of 1885 were sold to take up other bonds maturing in 1885 and 1886.
See Ch ronicle , V. 40, p. 385, 481. Assessed valuations have been :
Years.
Real Estate.
Personalty.
Railroads.
$120,432,609
$22,186,901
1884.........................$174,452.761
1885 ......................... 179,946,059
119,200,739
23,000,294
Tax rate in 1885, 3ka mills.
- ( V . 40, p. 385, 481; V. 41, p. 392.) %
In d ia n a .—There are also outstanding $340,000 5 per cent bonds
due 1901, held by Purdue University; $60,000 State University bonds
held by Treasurer, and about $ 18,000 miscellaneous issues of bonds.
Valuation in 1885, $793,526,079, Valuation in 1884, $804,291,273.
—(V.40, p. 42.)
K a n sa s.-K a n sa s has but a small State debt, but the issue or munlcipabonds was about $15,931,930. State funds hold $657,500 of thebonds.
The valuations (about one-half of true value) have been:
Real
Personal
Rate of Tax
Total
Years.
Estate.
Property.
per $1,000.
Debt.
1 8 8 3 ...... ........$154,929,010
$48,030.492
$4 30
$1,120,175
18 8 4 ............... 180,623,238
56,390,518
4 50
874,500
1 8 8 5 ............... .............. 247,371,645...............
.........
.........
K e n tu c k y .—Against the bonds as above the sinking fund held
$711,346 June 30,1885. Valuation in 1884, $377,888,542; in 1885,
personal, $96,898,919) real estate, $293,989,044; total valuation,
$390,827,869«
O c t o b e r . 1886.]
STATE
SEC U N T IE S .
Subscribers w ill confer a great favor by g iv in g im m ediate notice o f any error discovered in these Tables.
DESCRIPTION.
Date of
Bonds.
For explanation see notes on firel p«.ge of tables.
Amount
Size or
outstanding.
par
Value.
$500 1 Amount f
fundable
1,000
1866
1,000 I was ab’t J
1867
1,000 f $200,000)
January,
1870
500
1866
100 Ac. J 1885. 1
1870
80,000
1,000
260,000
1869
1,000
1857
48,000
1,000
70,000
1870
1,000
1871
2,500,000
1,000
1869
875,000
1,000
1874
100 Ac. 11,939,950
1,341,800
1880
1864
2,330,000
500 Ac.
2,827,000
1868
100 Ac.
1880
59,000
1,000
1,784,444
1838
Maryland—Baltimore & Ohio Railroad, Biermif
2,263,333
1838
Chesapeake & Ohio Canal, sterling— ----------309,485
1838-47
Railroads and canals.........................................
31,069
1839
Eastern Shore Railroad.................................
269,000
1837
Baltimore & Susquehanna Railroad...............
1839
298,435
Baltimore & Susquehanna Railroad...............
62,605
1839
Annapolis & Elkndge Railroad.......................
3,000,000
1882
Defense redemption loan..................................
125,000
Deaf and Dumb Asylum Loan......................... 1870 A ’74
1876
135,000
100 Ac.
Maryland Hospital Loan, 10-15 y e a r s .....—
1,217,234
1872
Maryland State Loan..................... ...................
500,000
1878
Treasury relief loan, 10-15 years....................
1886
628,355
Exchange loan of 1886 . . . ..............................
1864
4,379,500
500 Ac.
Massachusetts—Bounty Fund Loan....................
1864
4,022,649
£100 Ac
do
do sterling.............................
1,005,419
1869
£200
War Loan, sterling........... ............. ..................
5,537,104
Trov & Greenfield Railroad loan, sterling— 1858 t o ’61 £200 Ac
1,366,500
1861
t
o
’63
500
Ac.
do
do
kome ........
3,618,242
1871
2Ó0 Ac.
do
do
sterling....
1,506,182
1875
£500
do
do
sterling... .
300,000
do
do
dollar bond 1873 to ’74 1,000
1,300,000
1875
1,000
do
do
370,000
1877
10,000
do
do
do
200,000
1860
5,000
Southern Vermont Railroad Loan.. ..- - - .......
3,618,729
£200
Boston, Hartford & Erie Railroad, sterling.. 1868 t o ’ 69
300,000
1874 A ’76 1,000
Harbor Land Improvement (5-20s).............
1,500,000
Danvers Lunatic Hospital.............................. 1874 A ’77 1,000
1,100,000
1,000
1875-’76
Lunatic Hospital, Worcester..................—
1,299,355
1875
£500
New State Prisons, sterling.............................
231,000
1865
1,000
Michigan—War Bounty B o n d s ...... . . . . . . . . . . . .
3,965,000
1,000
Ì
1881
Minnesota—Adjustment bonds, (10-30, red., 9
128,000
1883
1,000
Revenue loan (redemption optional). . . . — ..
2,483,000
1,000
1868
Missouri—Consolidated bonds — - - — *•— —
185,000
1872
1,000
University and Lunatic Asylum bonds..........
80,000
1874
1,000
State Bank stock refunding.......- - ...................
1,449,000
Bonds to North Missouri Railroad.................. 1854 t o ’58 1,000
246,000
1,000
Bonds to Cairo & Fulton R a ilroa d ................ . 1857 to ’59
428,000
Bonds to Platte County Railroad................... 1859 t o ’60 1,000
1,190,000
Bonds to Iron Mountain Railroad................. 1854 to ’59 1,000
1,474,000
Pacific Railroad of Missouri.......................... 1853 to ’59 1,000
617,000
1874
1,000
Funding bonds....................................................
1,350,000
1,000
1886
do
5-20 years..................................
1,390,000
Hannibal & St. Joseph Railroad..................... 1857 to ’75 1,000
659,000
1,000
1874
do
do
renewal.......
449,267
1,000
1877
Nebraska—Bonds (act Feb. 14,1877) coupon..
150,000
1,000
1864
New Hampshire—War loan, coupon bonds.......
2,206,100
100 Ac.
1872
Municipal war loan............................................
500,000
1,000
1879
Loan of 1879 for refunding............... ..............
70,000
1,000
1879
Prison loan................ . . . . . . . . . . . . . . ...................
897,900
100
Ac.
1863
New Jersey—War loan bonds, tax free.----------593,400
100 Ac.
1864
do
do
taxable........ ..........................
473,000
100 Ac.
1875
New York— f
1,562,900
100 Ac.
1872
Canal debt,] Under Art. 7,Seo 3, of Con-j
4,302,600
100
Ac.
1873
reg. stock, jstitution.
2,000,000
100 Ac.
1874
1,000,000
1,000
1885
Niagara Park Loan bonds.
1853
I .n n is la n a .—The Constitutional amenument uasseu u m ., i o / a,
provided for a new bond in place of consols of 1874. bearing 2 per cent
for 5 vears. 3 per cent for 15 years and 4 per cent afterwards. In
June 1882, a constitutional amendment passed the Legislature and
was confirmed
at the
election in
April,, 1884, wgiving
new
bonds
at 4 per
wi©
iu ajjiax
&
*Ìfill
y ITO
*o H
1 eietuuu
A doing
rloinnowrotr
fh T
.llA T
lT*/Yt7
A
AT* A
,ATIti
" ■connrmea
na ... Jan.
▼_ 11,1885,
cent
after
and
away TrH
with
the
provision
ofT H
3 per
cent
for fifteen vears. There is considerable overdue mterest of the years
1874 to 1880 inclusive. The constitution of 1879 limits the power of
taxation to 6 mills pn the valuation, of which only; 3 mills may be ap
propriated for interest on the debt; in 1884 l 1« mills sufficed to pay 2
ner cent, but for 1885 a rate of 2”s was made on a total taxable valuation
of $212 725,566. A suit by the State of New Hampshire against
Louisiana, as assignee of her bonds, was decided in favor of Louisiana oy
the U. S. Supreme Court. (V. 39, p. 3,181.)
M a in e.—The debt January 1, 1886, was $5,216.000. The sinking
fund $1,960,278. Tax rate for 1880, 5 nulls on valuation of 1870:
1881-82, 41s mills; 1883-84,4 mills; 1885-6,
mills on valuation of
1881«
M a r v ia n d .—The State has largely assisted canals and railroads, and
holds 354 518,799 of stocks and bonds ranked as productive; the State
also holds $27,723,287 in unproductive securities, which includes
3517 566 472 Chesapeake A Ohio Canal interest. The State ex
changes’ the “ Defense Loan” at par for new certificates of indebtedness,
bearing interest at 3-65 per cent, redeemable in 15 years. Assessed val
uation, Ac., have been:
Real& Personal. Tax per $100.
..............
$464,824,879 ,
18%c.
i f t o o ...............................................
466,089,380 18%C.
..................................................
469,593,225 18 %C.
i S q k ................................. ....... ................
473,452,144
.........
_<V. 41, p." 473 ; Y- 42, p. 728, 783 ; V. 43, p. 217.)
M a s s a c h u s e t ts .—The funded debt, Jan. 1, 1886, was $31,423,681»
the sinking funds were $18,182,672. The Hoosao tunnel and connections
cost the State heavily. The loan to Boston Hartford A Erie Railroad
was secured by “ Berdell” mortgage bonds, afterwards exchanged for
N Y A N. E. RR. second mortgage bonds, and these bonds were sold
in 1885 at 90. Assessed valuation, tax-rate, Ac., have been:
Real
Personal Tax per
Total
Sinking
VAars
Estate.
Property. $1,000.
Debt.
Funds.
1R80
$1111,160,072
$816,695,358
$15
35
$32,799,464
$13,050,092
i a» u—
v
oo
qoq l e i u
ns o ifis
14,080,465
1.14^.965,827'883,886,538
14
28
32,399,464
1 8 8 1 ..
16,944,263
1882 . . . . 1189,524,370 812,858,614 15 28 32,511,680 16.836.672
1 8 8 3 ..
..1.226,111,297 835,601,175 14 98 31,423,680 17,731,725
1258,452,712 829,339,811 15 95 31,423,680
1 8 8 4 ..
..
o
o
u
..-.
1,287,993,899 806,055,338 14 14 31,423,680 18.182.672
1 8 8 5 ..
M ic h ig a n .—The debt is oracticahy’extmguished. as the sinking fund
has sufficient assets to pay the bonds. Equalized valuation of real and
6
6
8
6
8
6
8
7-30
6
8
8
8
7 (4)
2, 4, 3
6
6
4
5 g.
l g-
5
3
6
6
3-65
6
6
6
6
3
5 g5
5
5
5
5
5
I5 g.
e'
5 g.
5 g.
£ g.
g5
5 g.
5 g.
7
4 ifl
4*3
6
6
6
6
6
6
6
6
6
3^3
6
6
8
6
6
5
5
6
6
6 g.
6 g.
6 g.
6 g.
2*3
Principal—Wb en
due.
July, 1893
J. A J.
$15,000
1872 to 1906
Various
119,000
1886
Various
May 1, 1907
M. A N.
March 1,1875
Amounts not
M. A S.
fundable,
1886 A ’88
J. & J.
Jan. 1, 1890
80,000 per report of
J. A J.
1899
260,000 Jan. 1,1878.
M. A S.
48.000
1897
Various
July 1,1910
70.000
J. A J.
April, 1911
A. A O. 2,500,000
875,000
Jan., 1914
N. Y., Bank of N. Y.
J. "À" J.
1886 A 1914
New Orleans.
J. <fe J.
June
1,1889
Boston,
Suffolk
Bank.
J. & D.
Oct. 1,1889
Augusta and Boston.
A. & O.
Aug.
15,
1886
Boston,
Suffolk
Bank.
P. & A.
1889
London, Baring Bros,
J. & J.
1889
do
do
J. & J.
1890
Q .-J .
1890
do
do
A. & O.
1890
do
do
Quart’y
1890
do
do
Q —J.
1890
do
do
A. & O,
1899
do
do
J. & J.
1889
do
do
J. A J
Will be paid Oct. 1, ’86.
J. & J
1887
Balt., Farm. A Merch. Bk.
1893
do
do
J. ’& ’ j
1920
do
do
J. & J
May 1, 1894
Boston, Treasury.
M. A N
May 1, 1894
London, Baring Bros,
M. A N
July 1, 1889
do
do
J. A J
Apl.,
1888 to ’90
do
do
A. A O
April, 1891 to ’94
Boston, Treasury.
Various
July,
1891
London, Baring Bros,
J. A J
Jan. 1, 1895
do
do
J. A J
1894
Boston, Treasury
J. A J
July 1, 1895
do
do
J. A J
Sept. 1,1897
do
do
M. A S
April 1,1890
do
do
A. A O
Jan. 1,1900
London, Baring Bros.
J. A J
Sept. 1,1896
Boston, Treasury.
J. A J
J’y l ,’94-Sep 1 /9 7
Boston, Treasury,
Various
M V l’95-Sepl,’96
do
do
Various
Jan. 1, 1895
J. A J, London, Baring Bros. A Co
May 1,1890
M. A N. N. Y., Am. Exchange Bank
1911
J. A J N. Y. City, First Nat. Bk.
Optional.
St.
Paul,
State
Treasury.
J. A J.
1888
J N. Y., Bank of Commerce
J.
July, 1892
do
do
J. A J
April 1,1894
do
do
J. A J
1886 to ’88
do
do
J. A J
1886 t o ’89
do
do
J. A J
1889 t o ’90
do
do
J. A J
1886 t o ’89
do
do
J. A J
1889
do
do
J. A J
July, 1894 A ’95
do
do
J. A J
Jan.
1,1911
do
do
J
Nov. 1886 to ’95
do
do
J
1894-0-6
do
do
J. A J
April 1,1897
N.Y., Kountze Bros.
A. A O
Sept., 1889
Concord or Boston,
M. A S
Jan., ’92 to 1905
do
do
J. A J
Bost.,Nat.Bk.CommonwTth July 1, 1887-’92
J. A
Jan., 1887 t o ’91
do
do
J. A
Jersey City and Trenton, Jan., 1887 t o ’96
J. A
Jan.,
’97 to 1902
do
do
J. A
Oct., 1893
N. Y.; Manhattan Co. Bank
J. A
July,
1887
do
do
J. A
July 1,1891
do
do
J. A
Oct.
1,1892
do
do
A. A O
$100,000 yearly
J. A J
___perty, 1882, about $810,000,000; in 1883, ta x rate,13»ioo
mills; in 1884,1-108 mills ; in 1885, 2 -4 mills.
M in n e s o t a .—All the old State bonds formerly held by the'permanent
school fund have been redeemed or exchanged for 4*gs. Minnesota refused for some years to recognize the “ State’ Railroad Bonds of 1858,
to the amount of $2,275,000, but a proposed compromise with the
holders was provided for in 1881, and was carried out by the issue of
the
per cent bonds. Taxable valuations and State tax have been:
Years.
Real Estate.
Personal. Tax Rate.
1881
$208,949,184
$74,329,190
1*4
1882
244,033,847
67,159,588
1-8
.
255,910,090
78,549,269
1‘8
1883
1884'".'."."'.'......................... 307,859,774
80,298,879
1*3
1885........................... ............................ -400,000,000—--------- 1*8
M is s o u r i.—The tax rate is 40o. per $100. Bonds maturing are met
by sinking fund. Total State debt Jan. 1, 1886, was $14,952,000,
including school fund and University ccrtiiicates, $3,646,000. The
Hannibal A St. Joseph RR. paid the State $3,000,000 for its debt, but
the State refused on Jan. 1,1882, to pay the coupons on its own $3,000,000 of bonds. Litigation between the State and company ensued, re
sulting in a judgment against the company for $476,049, as due the State
on May 11, 1883; an appeal to the U. S. Supreme Court is yet pending.
The following is a statement of the assessed property in this State for
the years 1883,1884 and 1886 :
1886.
1884.
1883.
$514,348,606
$496,730,663
Real estate.................. $443,144,455
181,077.119
186,425,373
Personal property___ 173,345,191
46,444,864
44,582,480
Railroad property, Ac.
39,760,767
.
Louisiana—Bonds for relief of State Treasury .
Bonds in aid of various railroads.....................
Levee bonds—Act 35 of 1865............... —------ .
do
Act 115 of 1 8 6 7 . ............
do
special—A ct 32 of 1 8 7 0 ....----Bonds funding coupons.. . . .
- -r •■sjsyasi* **
do to Boeuf A Crocodile Navigation C o...
do to Mississippi A Mexican Gulf Canal.,
do school, held by St. Treasurer. . -- do to N. Orleans, Mobile & Chatt. k k
do to N. Orleans, Mobile & Texas RRJH.
muu. oí jLCAwo « i» .
— , 7" ~
\
Consolidated funded bonds(stamped 4 per ct.)
- -•-■•
“Baby” bonds, threes. . . ................
Marne—Bounty loan b o n d s .............. t
Municipal war debt a ssu m ed ........ > or reg
Rate.
INTEREST.
When
Where payable and by
Payable
whom.
$727,738,516
$741,870,589
T ota l..................... $656,250,413
—(Y. 42, p. 125, 207.)
N e b r a s k a .—The State school fund holds $326,267. Assessed valu
ation o f real estate, personal, railroad, Ac. (33 *3 per cent of true value,and tax rate per $1,000, have been :
.
Tax Rate.
Years.
Valuation.
1881 .
$93,142,456
1882 .
:
....................
98,537,475
7 40
is m
110,543,644
7 B58|)to
f S i i ................................................................. I. 126.615,886
i la S :: : : : .v.'.v.v.'
: : : : v . -. - 133,418,700
N ew
te?u£d t^ffities &and t o ™
$227,914,543; in 1884, $231.340.088; m 1885, $173,658,ouu, anu raw
of taxation for all purposes, $1-52.
6
IN YESTOK S’
SUPPLEMENT.
[V ol . X L III.
Subscribers w ill confer a great fa v or b y g iv in g im m ediate notice o f a n y error discovered in tbese T ables
DESCRIPTION.
For explanation see notes on first page of tables
Date of
Bonds.
1879
North Carolina—Fund, b’ds (coups.tax-rec’ble)
Old bonds not funded........................................
Bonds to North Carolina R ailroad.................
Ì879
Bonds for N. O. RR. issue (tax receivable ops.)
RR. bonds not fundable (Chatham and W.&T.)
Penitentiary bonds, act Aug. 24, 1868............
18*68
Special tax bonds (in 3 classes).........................
Ohio—Registered loan of 1881............................
1881
Registered loan, payable after Deo. 1886.......
1856
New loan..............................................................
Pennsylvania—Reg. bonds, tax fr. (red’ble ’92).
Ì877
Registered bonds, tax free, 15-25 years.........
1879
Loan of February, 1882 (registered)...............
1882
1882
do
do
In ten series.............
Agricultural College land scrip.........................
1872
Rhode Island,—War bonds......................................
1863
War bonds.......................... .................................
1864
South Carolina—State House stock and bonds.. 1853 to ’54
Funding bonds and stock..................................
1866
Blue Ridge Railroad bonds...............................
1854
Funding bills receivable.....................................
1868
Payment of interest............................................
1868
Funding bank bills..............................................
1868
Conversion bonds and stock.............................
1869
Deficiency bonds & stock (act 1 8 7 8 )...............
1878
Consol, bonds and stock (Brown).....................
1874
Tennessee—Funding bonds, act of 1873.............
1874
Bonds registered, act of 1873............................ Various.
Held by E. T. University (not to be funded)..
Compromise bonds (act of May 20, 1882)......
18*82
Settlement bonds, act of March 20, 1883.........
do
do
5 & 6 per cents.
Ì883
Texas—Funding State debt (act May 2 ,1 8 7 1 )...
1872
Frontier def’se, gold, act Aug.5,’70(red’ble ’91)
1871
Revenue deficiency bonds, act Dec. 2 ,1 87 1 ..
1872
Bo da, act Mar., 1874 (for paying float’gdebt)
1874
Redemption of debt, act Aug. 6, ’76................
1876
Bonds, act April 21,1879..................................
1879
Bonds issuedTto School Fund............................
1867
Virginia—Old bonds, 23 fundable......................... 1851 t o ’66
Old bonds sterling 23 fundable..........................
1851
Consol, (act Mar. ’71) coup, tax receivable... .
1871
do
do
reg., conv. into cou p...
18'-1
do (act 1872) “ Peeler,’ ’ cp. not rec’ble..
1872
do
do
“ Peeler,” reg. and certifs .
1872
Deferred certificates (W. Va.)............................
1871
1C-40s, act March 28, ’79, coup, and reg........
1879
do
do
sterling............................
1879
“ Riddleb’r” b’ds, acts Feb.l4,’82,&Nov.29,’84
1882
Size or
Amount
par
outstanding
Value.
$50 &c,
500 &c,
1,000
1,000
1,000
1,000
1,000
100 &o.
100 &c.
100 Æo,
100 &o.
50 &c.
50 &c.
1,000
1,000
1,000
50 &o,
1,000
1,000
1,000
500 &0.
500 &C.
500 &c.
1,000
1,000
1,000
500 &o.
100 &c.
100 &o.
1,000
1,000
1,000
1,000
100 &c.
500 &c.
*100 &e
100 &o.
100 &o.
100 &c.
Various
100 &c.
Rate.
INTEREST.
When
Where Payable and by
Payable
Whom.
npalPrincipal—When
due.
$2,931,100
4
J. & J. N. Y., Nat. Bk. of Republic.
1909
2,661,600
6
Various Cps. since July ’68 unpaid.
1868 to ’98
649.000
6
Various
do
do
1884 to ’85
2.146.000
6
A. & 0.
do
do
April 1, 1919
1.180.000
....
6
Cps. since Ju ly’68 unpaid.
1868 to ’98
44.000
6
A. & O. Coup, of Jan.’69&since unp.
Oct., 1898
11,366,000
6
A. & 0. Cps. A & 0 ’69 & Ap ’ 70 unì).
1898 to ’99
fri, 100,000
4
J. & J. N. Y., American Exch. B ’k. At will, due ’88
2,243,564
6
J. & J.
do
do
Jan. 1887
2.250.000
6.948.600
*5*
F. & A. Phila., Farm. & Meeh B’k.
Feb. 1,1902
1,855,500
4
F. & A.
do
do
Aug. 1. 1904
6,861,100 Sig & 4 F. & A.
do
do
Feb. 1.1912
1.649.600
& 4 F. & A.
do
do
Aug. 1, ’86 to ’92
500.000
6
....
Harrisburg, Treasury.
1922
628.000
6
J. & J. Providence, R.I.H. & T. Co.
July 1,1893
744.000
6
F. & A.
do
do
Aug. 1,1894
154,114
6
J. & J. Columbia, State Treasury.
1871 & ’81
26,650
6 g. J. & J. Columbia and New York. J’ly 1,1887 to ’97
55.000
J. & J.
Columbia, Treasury.
J’ly 1,1875 to ’79
a
g’
13.000
6 g- A. & O. Columbia and New York.
July 1,1888
128.000
8 g. A. & O.
do
do
July 1,1888
37,250
6 g. J. & J.
do
do
July 1,1889
54,200
6 g. J. & J.
do
do
July 1,1882
450,456
6
J. & J.
do
do
1888
5,240,230
6
J. & J. N. Y., National Park Bank.
July l, 1893
J. & J.
July 1,1914
l 4,415,000 f 6
) 5& 6 J. & J.
1892, ’98, 1900
397.000
6
J. & J.
Nashville, Treasurer.
Various.
2.799.000 3, 4, 5, 6 J. & J. New York, C onfi Bank.
Jan. 1, 1912
9,114,700
3
J. & J.
Nashville.
July 1, 1913
1.038.000
5 & 6 J. & J.
do
July 1, 1913
67.000
6
Various
State Treasury.
1891
499.000
7 g. M. & S. New York, Bank of N. Y.
1911
467.000
7 g. J. & J.
do
do
1892
288.000
7 g. J. & J.
do
do
March 1,1904
1.647.000
J. & J. New York & State Treasury.
July, 1906
2 g ’ J.
1,068,900
5
& D.
do
do
1909
82,168
6
....
State Treasury.
Matured.’
2.211.000
6
J. & J.
1886 to ’95
1,024,641
5
J. & J.
1886
13.019,900
6
J. & r.
1905
1,269,366
6
J. & j .
1905
386,100
6
J. & j .
514,276
6
J. & j .
12,691,530
6
J. & j .
Contingent
7,113,400 3 to 5 J. & j .
1919
293,200 3 to 5 J. & j .
1919
2,795,000
3
J. & j .
Richmond, Treasury.
July 1,1932
. . .
N ew Jersey.—The debt was created for war purposes. Valuation of the principal and interest of old, the new bearing 3 per cent in 1882 of real and personal property (taxable) in 1885, $565,500,687; $554,828,T ?or cent in 1884 and 1885>5 Per cent ln 1886 and 1887’ and 8 per
114 in 1884; $548.495,069 in 1883, $534,917,876 in 1882, $527,- 83’
e®ht 1888 to 1912. Exchanges were made in New York July, 1883,
451,222 in 1881. State school tax, 2 ^ mills.
and $8,224,351 of these compromise bonds were issued. The LegislaN ew Y o r k .—The financial condition of the State has been fortified by tur© of 1883 repealed this law and passed a new one adjusting the debt
the payment of all debt except the canal debt, as above. The sinking on the basis of new bonds at 50 per oent of the face value ox old, and
funds January, 1886, amounted to $4,528,468. The new Capitol bearing 3 per cent interest; the old State debt proper of $2,118,000 is
building has cost the State thus far $17,310,720, paid for by taxation. made an exception, and new 5 and 6 per cent bonds are issued for that
Valuations and State tax rate in 1880 and for two years past have been: Si o6 ^ace va^ue- Up to May, 1886, of the old 5 and 6 per cent bonds
Real estate.
Personal.
State tax. f 1>038’000 had been exchanged, and of the new bonds issued for them
1 8 8 0 .................................$2,315,400,526
$322,468,712
3*fl
$688,000 are 6s and $350,«00 are 5s. For other bonds scaled $9,114,..................
2,669,173,311
345,418,361
22340
1884
700 3 per oents issued. To July, 1886, $21,000,000 of bunds had been
1885
...................... 2.762,348,000
332,383,239
2*96
funded. All the settlement bonds are redeemable at option of the State
—(V. 40, p. 763.)
after July 1, 1888. Assessed valuations and tax rate per $1,000 have
N orth C arolin a.—Interest was paid up to January 1882 on the been as follow s:
bonds issued to No. Car. RR., as the State holds $3,000,200 stock and re
Real estate.
Other property. Railroad prop’ty. Tax rate.
ceives dividends thereon. The old North Carolina RR. construction 1881
.................. $200,007,214
$25,282,659
$ ................
bonds are exchangeable for the new 6s, due 1919 (see V. 35, p. 132). and 1882
195,383,568
26,546,245
....................
20
many holders have already so exchanged. The funding law of March 4. 1883
195,753,414
26,884,459
31,547,299
30
1879, provided for funding old ante-war bonds at 40 per cent of the face 1884
200,212,900
26,631,284
34,350,170
30
value; “ New” railroad, bonds recognized as valid at 25 per oent; fund —(V. 39,p. 454, V. 40, p. 121, 364, 562, 653, 686,734; V. 42, p. 234, 664.)
ing bonds of 1866 and 1868 at 15 per oent. Nothing for overdue cou
T e x a s .—The old high-rate bonds have been redeemed and low interest
pons. Coupons of the new bonds are receivable for taxes. The funding
ended Jan. 1, 1882, but has been continued till Jan. 1, 1887. If afl bonds issued. Assessed valuations and rate of tax per $ ! ,000 have been:
Real estate.
Personalty.
Total valuation. Tax rate
were funded the new 4 per cents would be $3,589,511. Special Years.
.. 197,167,630
121,803,106
318,970,736
5
tax bonds were ignored; also bonds to Chatham RR., 1868, $1,030,000, 1880..
.. 216,228,017
140,000.000
357,000,000
4
and to Williamston & Tarb. RR., $150.000, and for Penitentiary under 1881..
1882..
..
250,157,904
169,767,572
419,925,476
3
acts of 1868. The special tax bonds are in 3 classes, class 1, bearing
.. 298,959,253
228,578,137
527,537,390
3
the coupon of April 1869 and since; class 2 of Oct. ’69; class 3 of Apl ’70. 1883..
.. 347.846,953
255,213,964
603,060,917
3
Assessed valuation of real estate is about 60 per cent of true value. 1884..
Valuations and tax rate per $100 have been
V ir g in ia ,—The old bonds two-thirds fundable and the sterling
Years.
Real estate.
Personalty, Total valuation. Taxpr.$100 bonds
carry ooupons from July 1869, except the years 1872-3-4. The
1 8 8 0..
.. $102,348,210 $67,568,691
$169,916,907
28
consols, of 1871 carry coupons of Jan. 1875 and since. The 10-4us oarry
1 8 8 1..
.. 104,742,911
62,995,728
167,738,639
28
Jan.
1881
and since; but the consol, and 10-40 coupons being tax1 8 8 2..
.. 108,988,184
71,389,341
180,377,525
25
receivable, these bonds are generally sold with matured ooupons
1 8 8 3..
.. 124,135,377
77,087,346
201,222,723
25
off.
The
first funding law of March, 1871, allowed holders of
18 8 5..
.. 126,955,679
82,613,417
209,569,096
25
bonds to fund two-thirds of their debt into new 6 per cent bonds, bear
B(V. 40, p. 93, 454; V. 42, p. 479.)
ing coupons receivable for taxes, and receiving for the other one-third
O h io.—Ohio has a very small State debt, but large local debts,amount of their principal a “ deferred certificate,” to be charged to West Virginia.
ing in 1885 to $53,290,398, against $25,957,588 in 1875; this increase The act of 1872 repealed the tax-receivable clause of the law, ana the
being mainly in city debts. Valuations in Ohio have been as follows
bonds issued under it were called “ Peelers.” The McCulloch law of
Real estate.
Personalty.
Real estate.
Personalty. March 28,1879, authorized the 10-40 year bonds, bearing 3 per cent
1866.. $663,647,542 $442,561,379 1882.
$1,116,681,655 $518,229,079
for 10 years, 4 per oent for 20 years and 5 per cent for 10
1879.
-1,093,768,904 442,979,885
1883. 1,131.058,750 542,207,121
coupons tax-receivable, ln February, 1882, the Riddleberger
1880. 1,102,049,931 456,166,034 1884. 1,145,475,210 528,298,871 years,
law for re-adjusting the debt and the laws familiarly known as
1881. 1,101,457,383 485,750,196. 1885.
-1,160,165,882 509,913,986
“
Coupon
killers,” were passed (seeV. 34, p. 88. The Riddleberger
—State tax rate fo r ’85-86, 2»to mills. (V. 42, p. 365, 387 ; V. 43, p. 775.) act provided
for the issue of new bonds, dated July 1, 1882,
P en n sy lv an ia .—Revenue is raised principally from corporations. into which all others could be funded at specified rates below par, varying
Taxes are levied on personal property. The State holds $5,160,000 in from 47 to 31 on the different classes. This law was also amended
good railroad bonds. Any coupon bonds may be changed to registered. authorizing the funding of coupons matured between Jan. 1.1883-85
Real estate valuation m 1884, $1,600,000,000.
and requiring all bonds offered for funding after July, 1885, to c a n y the
R h o d e Is la n d .—The debt was all created for war purposes. In coupon of that date. Up to 1886 the various old and new b nds re
January, 1885, the net debt, less sinking fund, was $1,001,743. The spectively outstanding were as above. The Supreme Court of the U. S.
State valuation of real property up to 1885 was $328,530,559; tax rate held (V. 36, p. 285), that the law requiring the validity of the coupons to
be established before a State court did not impair the contract making
12 cents on $100.
them receivable for taxes, and was therefore constitutional, but the
South C arolin a.—The funding law of Deo. 23, ’73, provided for question
was again before the U. 8. Supreme Court in April, ’«5, when
sealing down the old debt 50 per cent. The consols were again “ re that Court
held that a tender of coupons in payment of taxes was suffi
adjusted ” in 1879. The several acts were passed Dec. 3,1873, Deo. 24, cient for the
property owner. New. suits were brought, and by the de
1878, Dec. 24,1879, and February, 1880. In November, 1885, the con
reported in V. 42, p. 188, the U. S. Supreme Court a.ffl mmii its
sols stood at $6,174,521, which amount was made up as follows: Brown cision
decision
of
1885.
consols, $5,200,433; green consols not yet exchanged, $934,291, less
A movement was begun in 1885 to procure an adjustment of the
amount mvalid, $692,869. The old issues yet fundable on Nov. 1, ’85
Deferred” bonds or certificates with West Virginia, and. the holders
were estimated at a total of about $600,000. Valuations and ra te of “were
requested to deposit these with the Farmer’s Loan Tr. Co., and the
tax per $1,000 have been:
certificates of that Co. were listed at the Stock Exchange.
Years.
Real estate,
Personalty.
Railroads.
Tax rate.
Assessed
valuations have been as follows:
1880-81... $76.583,866
$36,574,858
!$7,392,900
4%
Years.
Real Estate.
Personalty.
Total.
Tax Rate.
18828 3 ... 77,609,666 41.785,768
13,76-,400
5
1882..
.. $232.386,357
$77.666,765
8310,053,122
40c<
1883- 8 4 ... 87,131,400
48,249,939
15,227,964
5
1883..
..
236,368,227
81,789,710
318,157,937
40c.
18848 5 ... 87,559,538 46,904,705
15,263,366
1 * 8 4 ....
239,826,000
88,974,040
328,''0i>,040
40e.
T en n essee.—A funding law was passed (act of May 20, ’82» without 1885..
.. 256,916,140
84,884.270
341,800.410
40o
the tax-receivable coupon clause, and giving new bonds at 60 per cent —(V. 41, p. 446, 474: V. 42, p, 94,188, 234, 464; V. 43, p. 432, 446.
30
O c t o b e r , 1886.)
C IT Y
7
SECURITIES,
Subscribers w ill confer a great favor by g iv in g Im m ediate notice o f any error discovered, in these T a bles.
DESCRIPTION.
For explanations see notes on first page of tables.
Albany, N. T.—Purchase Congress Hall B lock..
City improvement...............................................
Washington Park.................................................
New Post Office site............................................
Water debt ($400,000 due 1900-3, are 7s)........
Broadway Crossing bonds.................................
New City Hall......................................................
South Pearl Street b on d s..................................
Bonds loaned to Albany & Susquehanna R R ..
Atlanta, 0a.—Bonds for streets, floating d eb t. . .
Bonds for A. L. Railroad and State H ouse....
Bonds for West. RR. and floating debt............
Bonds, 1st and 2d series, waterworks.............
Redemption bonds..............................................
do
Bonds to fund floating debt...............................
Capitol bonds......................................... .............
Bonds.............................. ...................................
Augusta, Qa.—Bonds for various purposes........
Baltimore—Consolidated loan of 1890...............
Water loan, reg. stock, red. at will after 1916
Binding loan, reg. stock, tax free..................
Consolidated bounty loan.................................
Exempt bounty loan.........................................
Public parks (Druid Hill).................................
Park improvement loan....................................
Patterson Park extension.................................
Five million loan to Baltimore & Ohio R R ...
New City Hall................................................... .
Paving loan............................... .................. .
Funding loan............... .....................................
Western Maryland Railroad............................
Jones’ Fans ($957,000 are 5s&$200,000 3-65s)
do
...................................
Valley Railroad...............................
Water loan ($263,000 only are 6s)
Harford Run improvement loan ..
Western Maryland RR. loan......... .
Endorsements for Western Maryland R R .......
do
do Union Railroad
Bangor, Me.—City debt proper.......
Refunding bonds...........................
Municipal loan...............................
Water loan bonds, coup. (Act Feb. 22, 1875).
European & North American Railroad
Bangor & Piscataquis Railroad............
Bath,Me.—Fund, debt ($78,000 are 6s,’97, J.&J.)
Knox & Lincoln RR., for stock and coupons ..
Androscoggin Railroad.......................................
Knox & Lincoln Railroad ($23,750 each year)
do
do
(F.&A.and M.&8)..
Railroad refunded............................
Boston—City purposes, war debt. &c
City debt and Charlestown.............
do
registered...........................
do
do
..........................
do
do
..........................
City d e b t...........................................
West Roxbury..................................
Burnt district, sterling loan............
Consolidated street improvem’t, sterling loan,
Mystic water debt, assumed............... ............
6 per cent....................
do
5 per c e n t ..................
do
4 per cen t...................
Sterling.......................
do
do
5 per cent gold..........
do
do
4
do
..........
4 per cent....................
do
3*à per cent.................
do
¿irooJWy«'—Brooklyn local improvement loan...
Mount Prospect Square loan....................
Soldiers’ aid fund loa n .............................
Gowanus canal improvement loan, local
Bushwick avenue
do
do
do
BouthSeventh st.
do
do
do ,
Union street improvement loan, loca l...
Fourth avenue
do
do
do
WadlaboutBay
do
do
.......
New York Bridge loan, registered and coupon
Bonds for N. Y. & Brooklyn Bridge, op. or reg.
Prospect Park loan, reg. & coup.........................
Prospect Park loan.............................................
Date of
bonds.
Size or Amount
par outstanding.
value.
1866
1870-’71
1870-’82
1874
1874-’80
1884
1882
1882
1865
1867-’72
1869-’70
1870 & ’72
1874
1877
1881
1879
1884
$1,000
1,000
1,000
1,000
1,000
Various.
Various.
1877
1878
1863
1865
1860
1863
100 &c.
100 &c.
100 &c.
100 &c.
100 &c.
100 &c.
100 &c.
100 &c.
1853
1870-’74
1881
1870
1872
1872-’84
1885
1873
1874
1880-4
1882
ioo&c.
1,000
1,000
500 &c.
1,000
500 &c.
1,000
500 &c.
1,000
100
100
100
100
100
&o.
&c.
&c.
&c.
&o.
100 &c.
100
100 &c,
1865 to ’72 1,000
1885
500 &c.
1874
1,000
1875
500 &c,
1869
1,000
500 &c.
1869
Various,
Various
1861
Various
1869
Various
1871-’72 Various
1852 to ’64 l'.ÒOO
1864 to ’80 1,000
1878’82
1879
1877
Various.
Ï873
£100&e
1869
£100&e
1862 t o ’ 83 1,000
1866 t o ’76
1875 & ’ 78
1878
1872
£100 &<:
1875-’76
1879
1879- ’80
1883-84-85
1884-’85
1861
1,000
1,000
1857
1,000
1865
1,000
1866
1865
1,000
1866
1,000
1867
1,000
1868 & ’69 1,000
1,000
1867
1,000
1870
1,000
1875-’83
1860 t o ’73 1,000
1860 to ’72 1,000
$127,000
438.000
1.058.000
115.000
1.089.000
70.000
145.000
62.000
858.000
741.500
400.000
418.000
427.000
77,500
120.500
360.000
55.000
116.500
2.256.000
7,306,546
5.000.
1.000.000
2,211,068
410,353
555,566
185,723
200.000
5.000.
1.500.000
500,000
800,000
1.000.
1.957.000
100,000
1,015,300
5.000.
600,000
684.000
1.375.000
117.000
50.000
50.000
100,000
500.000
1.000.
925.000
180.500
154.000
425.000
506,050
270,800
937.000
9,778,500
9.058.000
450.000
490.000
230.000
140.000
4,997,604
2,996,602
839.000
4.897.000
13.000
588.000
1,947,274
3.552.000
268.000
686,000
1,044,200
50.000
213.000
90.000
490.000
44.000
84.000
95.000
194.000
198.000
128.000
3,000,000
9,245,237
8.019.000
1.217.000
Rate.
000
000
000
000
000
INTEREST.
When
Where payable and by
Payable
whom.
Principal—When
Due.
Boston, Merchants’ Bank. Feb.. 1888 to ’ 94
1886 to 1900
New York.
1910- ’21
New York and Albany.
May
1,1904
N Y., Merchants’ Nat. Bk.
1894 to 1912
do
do
1886
do
do
July 1,1905 t o ’10
do
do
Albany.
1888
N. Y., D el.* Hud. Canal Co.
1895-’97
1892
New York, Park Bank,
J. & J., 1890
do
do
do
do
J. & J., 1902
Jan, 1,1904
New York, Fourth N. Bank.
Jan. 1,1897
Atlanta or New York.
do
do
1911- 1915
New York, Park Bank.
1887-1896
1914
New York and Atlanta.
July, 1916
Augusta, Treasury.
1886 to 1915
July 1,1890
Balto., Farm. & Plan. Bank.
July 1,1916
Balto., Nat. Mechanics’ Bk.
do
do
After July, 1916
do
do
Sept. 1, 1893
Sept. 1, 1893
do
do
do
do
Sept. 1, 1890
Jan. 1, 1895
do
do
1920
Balto., Farm. & Plan. Bank.
Jan. 1, 1890
do
do
1900 and 1902
Balto., Nat. Mechanics’ Bk. After Nov. 1,1920
Balto., Farm.&Plan. Bank.
July 1, 1900
Jan. 1,1 90 2
Balto., N. Mechanics’ Bank,
do
do
April 9,1 90 0
1900
do
do
do
do
Oct. 31,1886
do
do
July 1,1894,1922
do
do
After Jan. 1,1920
July 1.1925
Balto., N.Mechanics’ Bank. Jan. 1, ’ 90 & 1900
Baltimore, Franklin Bank.
Jan. 1, 1895
1892
Boston, Merchants’ N. B’k.
do
do
1886 to 1890
do
do
Jan. 1,1894
do
do
July 1, 1905
do
do
Jan. 1, 1894
do
do
April li 1899
City Treasury.
1887 & 1897
Boston, Second Nat. Bank.
1886 & 1898
City Treasuryand Boston. Jan. to Oct. 1891
Boston, Hide & Leather Bk.
1886 t o ’99
Boston, Second Nat. Bank.
1891 & 1902
July 1,1902
Boston, Treasurer’s Office,
1885 to ’87
do
do
1885 to ’97
do
do
1887-1914
do
do
Oct., 1889
do
do
1887
do
do
Various.
do
do
1886 to 1891
London, Baring Brothers,
April. 1893
do
July, 1899
Boston, Treasurer’s Office,
1886 to 1913
do
do
1897 to 1908
do
do
1907-1908
do
do
1908
London, Baring Brothers.
Oct., 1902
Boston, Treasurer’s Office
1905-1908
do
do
1909
do
do
1909-1912
do
do
19131914
do
do
1914- 1915
Brooklyn,
1891
1887 '
do
do
1886 to ’94
IoosMi2
do
1886 to 90
do
1886 t o ’ 90
1886 to ’90
do
do
1886
do
1886 to ’95
do
1886 t o ’ 88
do
1899-1924
g<a-e
do
1905 to 1928
do
1915 to ’24
o
1924
do
J. & J.
A lb a n y .—The loan to Alb. & Susquehanna is secured by first mort- several cities in aid of the latter road. Tax valuation, 1883—real estate,
1884 ,
The valuation of Albany City In 1884w a s: Real estate, $60,961,- $2,775,840; personal, $4,303,935. Tax rate, $25 per $1,000;
fage.
65; personal, $6,339,417; tax rate, $2 04. Valuation in 1885—R e a l1$2,821,511 real estate and $4,095,820 personal; rate, $25.
B o s t o n .—The population of Boston in 1830 was 362,839; in 1370,
250,526, against 177,840 in 1860. The gross debt on Jan. 1,1886, was
$43,409,945, and the total sinking funds, <fcc., applicable to it $18,716,831, leaving the net debt $24,693,114. The law of April 17, 1885,
limited the taxation in Boston for city purposes to $9 on the average
valuation of five years preceding, to which is added the tax for oity debt
and for State purposes. Up to Jan. 1,1887, the debt shall not be over
2*2 per oent of assessed valuation, and after that date 2 per cent.
Assessed valuation on May 1 for four years has been:
Real
Personal
Tax
Net Debt.
Years.
Estate.
Estate.
Rate.
Deo. 31.
..... $478,318,900
$204,113,771
$14 50
$25,311,635
1883
.... 488,130,600
194,526,058
17 00
24,766,064
1884
* 8 8 5 ............. 495,973,400
189,605,600
12 80
24,693,114
8 8 6 ............. 517,495,200
193.086,500
12 70
.
B r o o k l y n . —The whole city debt was as follows Jan. 1,1885 and '86.
Jan. 1,1886.
Jan. 1,1885.
Permanent d eb t.................................
$26,264,543
$26,365,237
Water loan.................................................
11,645,500
11,158,000
Debt payable from assessments . . . . . . . .
2,618,000
4,754,000
Tax certificates................................
3,000,000
3,000,000
Gross d eb t...........................................
Less sinking fund...................................
$43,528,043
7,121,271
$45,277,237
6,471,606
.
estate, $60,381,215; personal, $6,044,250; tax rate, $2 06. Population,
90,758 in 1880; 69,422 in 1870.
A tla n ta .—The total bonded debt Jan. 1,1886, was $2,223.500. As
sessed value of real estate in 1885, $21,023,370; personal, $7,889,259;
tax rate, $1’50. Population, 37,409 m 1880; 21,789 in 1870.
A u g u sta .—Of this debt, $600,000 was issued for railroads, and bal
ance for canal enlargement, waterworks, &c. Sinking funds, Jan. 1,1885,
$330,000. Taxable valuation in 1885: Real estate, $11,468,310; per
sonal, $5,088,430; tax rate, $1 621e per $100. Population in 1870,
by U. S. Census, 15,389; in 1880, 21,891.
B a ltim o r e .—The Balt. & Ohio RR. pays interest on $5,000,000.
Water loan is paid by income of water works, and Public Park by City
Passenger Railway, and against a total debt of $36,733,247 the oity is
chargeable with interest on only $20,476,680, and holds productive
assets, including the sinking funds, equivalent to $14,460,394, leaving
on Dec. 31,1885, only $6,016,286 debt over interest-bearing assets.
Interest is raised by taxation on $11,821,025, the city owning $4,396,860 of this amount. There are also held $5,658,500 of unproductive secu
rities. Popjlation in 1870,267,354; in 1830, 332,313. Assessed valua
tion, near the full cash value, and tax rate have been :
Real
Personal
Total
Rate of Tax
Years.
Estate.
Property.
Valuation.
per $1,000.
$58,889,738
$248,803,232
15 00
1883........ $189,913,494
1 8 8 4 ..... 191,516,113
58,135,586
249,651,699
16 00
195,416,894
59,496,377
253,913.271
16 00
1885
1886
..................
...............................
......
258,000,000
—(V. 41, p. 720.)
B a n g o r , M e .—The loans to Eu. & No. Am. R. R. to Bangor & Pis. R.
R. are secured by first mortgages on those roads, and interest fully paid
from the earnings The valuations (near full value) and tax rate in 1884
were: Real estate, $6,505;698; personal, $2,807,195; tax rate, 2*60.
Municipal property, including water works, $803,000 Population,
16,851m 1880, 18,829 in 1870.
B a t h , M e .—The city holds a first mortgage on the Androscoggin road
for the debt, and second and third mortgages on the Knox & Lincoln for
its proportion of $895,000 out of a total of $2,395,000 bonds issued by
$33,805,630
17 Net
00 debt.............................................. $36,406,772
Population in 1870, 396,099, against 566,663 in 1880. Valuation of
property and tax rate per $1,000 for three years have been:
Years.
Real.
Personal.
Rate.
1883 ......................................$280,800,597
$18,135,909
$25 51
1884 ...................................... 297,126,666
20,727,406
26 34
1885
........................... 311,308,060
29 00
1886
............................ 336,221,357
22j ° i 9'3 l 0D . , - - 8
The debt of Kings County, separate from the debt of Brooklyn, 1about $4,000,000, of which the city is responsible for nineteen
1 twentieths.
8
INVESTORS’
SUPPLEMENT,
[V o i
XLTTI,
Subscribers w ill confer a great favor by g iv in g Im m ediate notice o f an y error discovered In these Tables.
INTEREST.
DESCRIPTION.
Amount
Size or
Date of
Principal—When
outstanding,
par
Bonds.
When
Where Payable and by
Due.
Rate.
For explanations see notes on first page of tables
Value.
Payable
Whom.
Brooklyn—( Continued)—
Permanent water loan...................................... 1857 to ’72 $1000 i
J. &
Brooklyn,
I-ÖSti)
do
do
I 1886 to 1916
............ .........................
1872- ’ 75 1,000 S $11,645,500 1 ?
J. &
do
Sewerage fund bonds, continuous, local........
1,000
Various.
72.000
Icq S J ^
3 ia J. &
do
3
years from date.
Assessment fund bonds. continuous, lo c a l. . . Various.
1,000
1.718.000 3 ^ & 4 J. &
do
I1
§ 3 years from date.
Temporary tax certificates.............................
Various.
3,000,000 3*2 &4
do
> S § -b a
1884
Certificates of indebtedness.............................
976,305
4
2®
os
J. & J.
do
1884
Bonds to pay arrears to cou n ty..................... .
549.000 3 ^ & 4
do
1924
1884
Arrearage bonds, reg. (redeem, in 1894)— .
2.350.000 3*2 &4 J. '& "j.
do
1924
jo - g n
1883
Award bonds for lands taken.................. .........
200.000
4
do
1893
Buffalo, A. Y.—Funded debt bonds.................... 1870 t o ’85 l,000&c
4,478,088
3 to 7 Various Buffalo and New York,
1887 to 1924
2,828,332 3 ^ to 7 Various
Waterworks bonds.......................................... 1869 to ’85 l.OOO&c
do
do
1886 to 1909
Tax loan bonds................................................... 1880 t o ’85 l,000&c
368,347 3 to 4*a J. & J.
do
do
1887 to 1900
Cambridge, Mass.—City b on d s................ .......... 1864 & ’77 1,000
220,000
5
A. & O. Boston, Bank Redemption.
1887 & 1889
1863
1,000
City b o n d s.........................................................
150.000
J. & J. Boston, Tremont Bank.
Jan. 1,1893
do
............................................................ 1870 to ’76 500 &c
615.000
fl* J. & J. Boston, Bank Redemption,
1886 t o ’96
do
.......................................... ................. 1873- ’74 500 &c
689.000
6
J. & J.
do
do
July,
1903-4-5
do
.......................... ................................
265.000
4
do
do
1895
& 1905
Water loan...........................................................
1866
1,000
100.000
J. ’& J
6
do
do
July 1,1886
do
.......... ................................................ . 1870 to ’77 500 &c
J. & J
6
874.000
do
do
July
1,1890
to ’97
do
............................................................ 1867 t o ’ 69 1,000
A. & O
437.000
6
do
do
Apl. 1,1887-1889
do
(only $12,500 are 5s).....................
1,000
4 &5
336.500
do
do
1894-’98-l
910
Charleston, 8. O.—Fire loan bonds, cou p on .......
1860
92,800
J. '& J
7
Charleston, Treasury
1890
Conversion bonds, to redeem past-due deb t...
A. & O,
500.000
7
do
1888
to
1897
do
do
do
A. & O
1878
109.500
6
do
Oct., 1898
do
coup, or reg.........................
100 &C
1879
4
3,413,600
J. & J,
do
July 1,1909
Chelsea, Mass.—Sinking fund bonds....................
6
286.000
1884
to 1908
Bonds...................................................................
25.000
5*2
1884 to 1888
Funded debt, coup..............................................
992.000
1,000
6
Various Boston, N. Bk. Redemption
1891 to 1895
do
notes...............................................
96.000
4^2 Various
1889-1890
Water loan, coup...................................... ........
T,ööö
200.000
F. & A Boston, N. Bk. Redemption Aug. 1 ,1887-’95
6
Chicago—Water loan........., ................ ...................
500,&c.
132.000
J. & J N. Y., Am. Ex. Nat. Bank,
6
1897 & '98
1,000
Water loan....................................................... .
3.490.000
J. &
7
do
do
July 1, ’ 88 to ’95
Water loan (refunding)......................................
1882
100, &c.
333.000
3-65 J. &
do
do
1902
500 &c.
Sewerage bonds..................................................
1.675.000
J. &
7
do
do
1888 to ’95
do
i ................................................
489.500
4^2 J. &
¿880
do
do
July 1,1900
River improvement bonds................................
1,000
2.608.000
J. &
7
do
do
1890 to ’95
Municipal bonds..................................................
1,000
J. &
186.000
6
do
do
July, 1895 & ’96
Municipal and School b o n d s ........................
500 &e.
2.536.500
7
J. &
do
do
1886 to ’99
Municipal bonds (refunding loa n )....................
1881
843.500
4
do
do
1901
Cook County debt............................................... 865 t o ’80 500 &c.
4.941.500 4^2 to 7 M. & N. N. Y., Metropolitan Bank. May 1 , 1885-’92
C incinnati- B’ds for erection of a WorkhouseX
1868
1,000
250.000 7 3-10 J. & D. N.Y., Am. Exoh. Nat. Bank,
June, 1888
Bonds for Water Works................................. C3
1869
1,000
150.000
7 3-10 J. & D.
do
do
1889
Bonds for Common School purposes..............P
1863
98.000
1,000
J. & J.
6
do
do
Jan., 1890
Bonds to O. & M. RR. to purchase whf. prop. .N
1855
1,000
194.000
M. & N.
6
do
do
Nov.,
1890
Bonds for ext. and impr. Water W. -C, D. & E 1847 t o ’50 500 &e.
397.000
6
A. & O. Phila., Bk. of North Amer,
April, 1895
Bonds for funding floating debt............ A&A2 1847 to ’48 500 &c.
171.500
M. & N.
6
do
do
May, 1897
Bonds for new Hospital.............................S&S2 1867-’68
1,000
750.000
7 3-10 Various N.Y., Am. Exch. Nat. Bank,
1897 & 1898
Bonds for funding floating debt......................L
1853
1,000
6
60.000
& J.
do
do
Jan., 1900
Extension and improve. Water Works.. .K &F 1851-’53
1,000
175.000
6
Various Phila., Bk. of North Amer. June & Oot., 1900
Bonds to purchase Orp’n Asyl. grds. for park.0
1858
1,000
131.000
M. & S.
6
Cincinnati.
Mar., 1888& 1908
Bonds for sewerage.......................................... R
1869
1,000
150.000
7 3-10 M. & S. N. Y., Am. Exch. Nat. Bk.
Sept., 1899
Bonds for improving Gilbert avenue............ U
1869
1,000
150.000
7 3-10 M. & S.
do
do
Sept., 1899
Bonds to build Eggleston avenue sewer___B3
1869
1,000
100.000
7 3-10 A. & O.
do
do
Oct., 1899
Bonds for Water Work purposes.......... C4&C5 1871-’72
1,000
450.000
F. & A.
7
do
do
Aug., 1886-'97
General improvement.................................. W2
1871
1,000
600.000
7
& D.
do
do
Deo. 1,1891
Cincinnati Southern R R ....................................
1872
500 &c
8.191.000
& J
7 3-10
do
do
July 1, 1902
do
do
($2,890,000 are gold 6s)
1876
500 &c
4.825.000 6g. or 7-3 M. & N,
do
do
May 1, 1906
do
do
.......................................... 1878 & ’79 1,000
2.260.500
6 & 7 Various
do
do
1902-1908-1909
Floating debt bonds, coupon............................
1874
1,000
995.000
M. & N,
7
Cincinnati.
May 15,1904
Park improvement.............................................
1875
1,000
65.000
7
& J. N. Y., Am Exch. Nat. B ’k.
1890
Water-works bonds........................................ D1
1875
1,000
200.000
F. & A.
7
Cincinnati.
Aug.,’90
&’ 95
Bonds for McLean Ave. sewer......................U2
1879
1,000
175.000
5 & 6 M. & N. N.Y., Am. Exoh. Nat. Bank. May 1889-1909
Hospital bonds.................................................S3
1876
7
50.000
M. & N,
Cincinnati.
May 1,1906
University......................................................H2
76.000
7
& A.
Aug. 1, 1897
Street improvement bonds, short..................... 1876 to ’83 Various
198,265
5 & 7 Various
Cincinnati.
1886 to ’95
Consol, s. f. bonds, 30-50 yrs. (Act Apl. 9, ’80, 1880 & ’81 1,000
2.002.000
4 & 5 Various N. Y., Am. Exch. Nat. Bk.
1930 & 1931
Assessment bonds ............................... U3 & U4
64,706
4 & 5 Various
1889
& 1890
Work House and Infirmary...............................
1882
Too
4 &6
104.000
& J.
Cincinnati.
July 1,1886 to 92
Deficiency loan (redeemable after 1 8 9 1).......
1881
100 &c.
4
500.000
& D. N. Y., Am. Exch. Nat. Bk.
June
l , 1901
Deficiency and pavement bonds (10-20 yr.) ..
1885
4
1.273.000
Various
1903,
Cleveland—W ater works ($200,000 are 6 p. ct.). 1872 to ’85 1,000
1.775.000 3-65 to 7 Various N. Y., Am. Exch. Nat. Bk,
1892 & 1903
Funded debt......................................................... 1872 to ’85 1,000
1.824.000 4, 5, 6, 7 Various
do
do
1886 to ’97
Lake View and Monumental parks.................. 1872 to ’74 1,000
315.000
7
Various
do
do
1887 to ’92
Canal and canal lock ($11,000 are 6 s )............. 1874 t o ’ 79 1,000
275.000
6 & 7 Various
do
do
1894
to ’98
School ($100,000 are 6 p. ct.)............................ 1869 t o ’71 1,000
7
150.000
Various
do
do
1887-’88
General bonds, various purposes..................... 1885 86
400.000
4-412 Various
do
do
1888-1901
, Viaduct (mostly F. & A., A. & O. and J. & D.) 1873 t o ’78 1,000
2.138.000 5, 6 & 7 Various
do
do
1893 & 1907
Wade Park ,....................................................... 1884-’85
1,000
6
193.000
Various
do
do
1889
Special bonds.......... .................. ......................... Various.
1,000
708.000 4, 5 ,7 Various
do
do
1886-’95
Kingsbury Bridge....................................... ........ 1884-’85
185.000 4, 4 1«, 5 Various
do
do
1899-1900
Des Moines, Iowa—Renewed judgment bond___
1875
L odi
228.000 7 & 4 J. & J. New York, Kountze Bros. July, 1885 or ’92
Funding bonds, redeemable 1878.....................
1878
1,000
175.000
7
J. & J. N. Y. Chemical Nat. Bank. July, 1888 or ’ 98
Coupon warrants and sewer and pavingibonds 1882 & ’84
5
182.000
Various Des Moines and Boston.
Various.
B u f f a l o . —Valuations and tax per $1,000 have been:
The assessed value of real estate is about one-third of its true value.
Years.
Real estate.
Personalty. Tax Rate. Population in 1870 was 298,977, and in 1880,503,185. The South Park,
1878............................................$80,929,165
$7,947,380
1760West Chicago Park and Lincoln Park loans are not debts of the city,
1883.......
93,167,090
8,796,675
1627but of distinct corporations.
1864.......................................... 96,341,455
8.459,735
1644
1885.......................... ............... 99,912,470
8,461,675
17 21
C in cin n ati.—City holds $1,274,000 of Cincinnati Southern bonds in
Buffalo also pays 77-100 of Ene county debt. Coupon bonds are exchange sinking funds. In 1870 the population was 216,239, against 255,139 in
able for registered. The interest on different bonds is 3*2. 4, 412, 5 ,6 1880. The following table from the books of the Auditor of Hamilton
and 7 per cent. Population, 202,803 in 1885; 154,766 in 1880; 117,714 County, Ohio, exhibits the assessed valuation of the city of Cincinnati
in 1870.
in the year 1860, and from 1870 to 1884:
C a m b r id g e , M a s s .—The sinking funds, Nov. 30,1885, amounted to
Real
Personal
Total
Tax per
$1 ,387,327. The investments are nearly all in city bonds at par and
. Estate.
Estate
Valuation.
$1,000.
stamped “ not negotiable. Valuation, 1885, real estate $42,588,300; Years.
$31,411,912
$93,032,716
$17 45
personal $12,758,255; total, $55,346,555; tax rate, $155. Valuation 1860................ $61,620,904
57,370,754
136,107,236
31 60
m ’84, $41,289,200 real estate and $12,259,491 personal; total, $53,548,- 1870 ............ 78,736,482
56,934,044
180,361 932
22 20
691; tax rate, $1 68 per $100. Population, 52,669 in ’ 80; 39,634 in ’70. 1871 ........... 123,427,888
55,462,410
175,084,296
20 10
C h a r le s to n , S. C .—The bonds of Charleston are mostly held within 1872 ........... 119,621,856
121,479,280
64,166,460
185,645,740
23 06
the State of South Carolina. Conversion bonds of 1878 and 1879 are issued 1873 ..
58,708,284
181,950,074
23 38
in exchange for city stock. Valuations and tax rate per $1,000 have been: 1874 ........... 123,231,790
58,521,730
184,498,565
24 82
Years.
Real Estate.
Personal Prop.
Tax Rate. 1875 ..............125,976,835
56,809,066
183,952,966
27 04
1883.........
$15,854,575
$7,419,784
$23801876 ........... 127,143,900
50,609,872
179,430,142
29 10
1$84..................................... 16,246,865
8.186,216
20001877 ........... 128,820.270
43,830,188
172.874,068
28 54
1885..................................... 16,753,760
8,138,153
20001878 ............. 129,043,880
1879 ........... 128,473,130
40,832,505
169,305,635
28 98
—Population, 49,984 in 1880; 48,956 in 1870.
1880
...........
129,956,980
37,578,376
167,535,356
31 00
C h e ls e a , m a s s .—Sinking fund, Jan. 1, 1885, $286,653, and debt 1 8 8 1 .............. 120,045,230
41,359,163
161.404,393
22
20
$1,661,800. Valuation in 1884, $18,153,497; tax rate, 18-60. Tax val 1882 ............ 138,342,188
28,643,917
166,986,105
23
82
uation, 1883, $17,374,335; tax rate, $18 40. Valuation in 1882, $17,029,- 1883 ....
122,874,790
47,050,496
169,925,286
20
50
722; tax rate, $18 80. Population, 21,782 in 1880; 18,547 in 1870 • 1884 ............ 124,625,370
44,908,822
169,534,192
25
50
24,347 in 1884.
170,086,968
......
C h ic a g o .—The city debt is limited to 5 per cent of the Illinois State 1885 ...............................................................
valuation. Of the funded debt, $3,955,000 is on account of the Water The city is the sole owner of the stock of the Cincinnati Southern Rail«
Works, which yield an income much above the interost charge on the debt road, leased as per terms, V. 33, p. 281, and with the waterworks and
--------- Equalized Value.-------- , Tax Rate. other property, real estate, and bonds held for investment, has assets
Years.
Real Estate.
Personal, per $1,000. put at $34,461,188.
1 8 8 0 ....................................... $89,031,955
$28,101,678
$33-33
1881 ......................................... 90,099,045
29,052,906
3472
C le v e la n d .—The sewer, street improvem’ts and street opening bonds
1882 ...........
95,881,714
29,052,906
33-72 are for special localimprovements, and redeemed bv assessments on the
1 8 8 3 ....................................... 101,596,787
31.639,717
34-10 property benefited. Assessed fvaluation, tax rate, ¡ieb t and sinking
1 8 8 4 .................. ....................... 105,606.743
31,720,23 7
34 ■?«, funds have been:
O c t o b e r , 1 8 8 6 .]
C ITY
SECUKITIES
9
Subscribers w ill confer a great favor by g iv in g im m ediate notice o f any error discovered in these Tables»
INTEREST.
— I Principal—When
Date of
Size or Amount
DESCRIPTION.
due.
Where payable and by
When
par
bonds.
outstanding. Rate.
whom.
payable
value.
For explanations see notes on first page of tables.
1887 to 1906
4 to 7 Various N. V., First Nat. Bank,
Detroit,Mich,.—For Water W.Co., on city’s credit 1855 t o ’81 $500&c. $1,451,000
1886 to ’91
do
do
Various
7
412.500
Public Building stock (City Hall) bonds.......... 1859 t o ’71
1892 t o ’97
do
do
F.
&
A.
6 &7
292.000
Public sewer bonds ($35,000 are 6s)............ -. 1872 to ’77
1899
do
do
F. & A.
4
1879
100.000
Bonds for purchase Belle I s le ..........................
Jan..
1911
do
do
30.000
1886
5.000
3*2 J. & J.
Bonds for Bridge................ ............... ...............
1886-1892
36.000
1880
Market bonds.......................................................
1879
t
o ’81
City
Treasury,
Various
*T
850.000
Elizabeth, N. J.—Improvement bonds................ 1871 t o ’74 1.000
1882 t o ’95
do
Various
7
435.000
Funded debt bonds.............................................. 1870 t o ’75 1,000
1882
to
’93
do
Various
7
48.000
School House bonds............................................ 1872 to ’73 1,000
1882 t o ’86
do
Various
7
41.000
MarketHouse bonds.......................................... 1865 t o ’66 1,000
1885
t
o
’96
do
A. & O.
1,000
7
764.000
Consolidated improvement bonds..................... 1875-’76
1907
do
J. & D.
7
1877
260.000
1,000
Funded assessment bonds. .............................
1886
do
M. & N.
7
1876
1,000
196.000
Tax arrearage bonds..........................................
July 1». 1912
J. & J. N. Y., Mercantile Trust Co.
4
1882
500 &c.
1,656,720
New Adjustment bonds and scrip........ - - ........
Maj 1, 1898
M. & N. N. Y., Farmers’ L. & Tr. Co.
1868
1,000
7
250.000
Evansville, Indiana.—E. H. & N. RR. bonds—
May 1, 1899
do
do
M.
&
N.
1869
7
100.000
1,000
City wharf bonds................................................
Dec. 1, 1890
do
do
J. & D.
1870
1,000
7
196.000
E. C. &P. RR. bonds......................' ...................
Dec. 1, 1895
do
do
J.
&
D.
1870
7
1,000
100.000
do
do
...........................................
July 1, 1895
do
do
1870
1,000
300.000 7 3-10 J. & J.
Water works bonds.......................................... .
April
1, 1906
do
do
A.
&
O.
1,000
7
1876
300.000
Redemption bonds................................................
May 15,1906
do
do
M. & N.
1876
1,000
7
105.000
do
do ..............................................
June
1, 1907
do
do
J. & D.
1,000
6
1877
100.000
do
do ..............................................
April 15,1908
do
do
1,000
1878
6
100,000
do
do ..............................................
Feb.
1,1911
do
do
F. &' A.
6
1,000
1881
100,000
do
do ...............................................
Nov., 1885 t o ’ 92
City Treasury,
Large.
311.000 37S, 4, 6 Various
Fall River, M ass—City notes...............................
1891
do
Various
6
lOOO&c.
45.000
City bonds.................. .........................................
Aug. 1,1894,
Boston,
Revere
Bank.
F.
&
A.
1,000
600,000“
do
.........................................- .................
May
1,1895
Boston,
Bank
Redemption,
1,000
450.000 5 & f* M. & N.
do
...........................................................
May 1, 1895
do
do
4
100.000
do
1896-’97-’98
do
do
5&6
261,860
do
.......... .................................................
May 1, 1905
City Treasury.
1,000
125.000
3*8 M. & N.
do
(sewer)................................................
Boston, Bank Redemption, Feb. 1,1900-1909
1,000
500.000
Water loan............................................................
N
o
v .1,1892-1900
do
do
M.*&
N.
6
1,000
450.000
do
....................... ....................................
Aug. 1,1899-1905
do
do
F. & A.
1,000
6
550.000
do
............................................................
May
1,1908-1909
200.000
do
............................................................
July 1,1893
J. & J. Boston, Merchants’ Bank
1,00Q
1873
' *6*
400.000
Fitchburg, Mass.—City bonds...............................
July
1,1891
do
do
J.
&
J.
1,000
1871
6
300.000
Water loan....................... ..................................
July 1 , 1905-190«
do
do
J. & J.
1,000
100.000
1875
6
do
..........................................................
Oct.
1,
1903.
City
Treasury.
4
A. & O.
1,000
1883
50.000
do
registered— : ............................... •
1885 t o ’91
Various Galveston, City Treasury,
10
21,800
Galveston, Texas- Bonds for various purposes... 1.869 t o ’75 100 &c.
1893-1909
do
M. & S,
8
510,100
Limited debt bonds (sinking fund 2 per cent). 1877-8-9 100 &c.
1920-1925
New York or Galveston.
J. & D
5
100 &c.
808,900
...............................
do
do
1902
J. & J, N. Y., Bank of New York.
1882
6
417.000
Galveston County bonds, G. C. & 8. F. R R —
1890-1906
City
Treasury.
Various
5
&
6
1,000
1865-’81
937.000
H artford, Conn.—water bonds.............................
Jan.
1, 1891
Suffolk
Bank,
Boston.
6
1,000
1876
500.000
City bonds (H. P. &F. RR.)............................. .
Jan. 1, 1893
City Treasury,
6
1868
1,000
300.000
Funded debt...................................... .........
Jan.
1, 1897
do
6
1872
1,000,000
1,000
Capitol bonds..................... — - - . . . .
..........
10 to 25 years
Town Treasury,
1,000
1.250.000
413
Hartford town debts to railroads 10-25.......... 1879-’80
$10,000
yearly
do
6
1863
1,000
90.000
do
do
war................................
Jan., 1900
do
&
6
203.000
1,000
do
floating debt............................
1886
to
1905
6 & 7 Various First Nat. Bank, Hoboken
1864-’79 500 &o.
224.000
Hoboken, N. J.—Bonds........................................
1892
do
do
A. & O
7
119.500
1872
500 &o.
City bonds............................................................
1892 to 1894
do
do
6 & 7 Various
’79
43,750
1,000
School bonds....................................................... 18771890 to 1903
do
do
91,500 5, 6 ,7 Various
Water bonds........................................................ Various. 500 &o.
1898 to 1901
do
do
5 & 6 Various
1,000
608.000
’81
Improvement bonds........................................... 18781903 to 1910
do
do
Various
5
&
6
75.000
1,000
City Hall and Engine House bonds.................. 1880-’83
1885 to 1889
City Treasury,
4 to 7 Various
180,000
Holyoke, Mass.—City notes.................................. 1871-’74
Oct. 1,1889
do
6
A. & O
1874
1,000
271.000
City bonds, sinking fund....................................
Jan. 1,1900
do
& J
6
1872
250.000
1,000
Water loan
do
....................... .
Jan.&Apr.l, 1894
do
A. & O
7
226.500
1873
1,000
Railroad loan do
($60,000 are J. & J.).
Jan. 1, 1889 t o ’90
City Treasury.
Jan.
6
155.000
500
Indianapolis—Bodds to railroads....................... 1869 to ’70
Jan. 1, 1897
N.
Y.,
Winslow,
L.
&
Co.
&
6
1877
500.000
1,000
Bonds to Un. RR. Tr. Stock Yard (mortgage).
July 1, 1893
do
do
&
7-3
1873
300.000
1,000
Loan bonds, series A ..........................................
July
1, 1893
do
do
&
7*3
1874
300.000
1,000
do
do B ...........................................
July 1, 1894
do
do
&
7-3
300.000
1874
1,000
do
do C............................................
July
1, 1895
do
do
7-3 J. &
200.000
1875
1,000
do
do D ............. ..........................
Jan. 1, 1899
do
do
7-3 J. &
1874
109.500
500
Purchase-money bonds—Southern Park..........
Jan.,
1889
to 1909
N. Y.. Mereh. Ex. N. Bank
J. &
6
984.000
Jersey City—Water loan bonds, mostly coupon 1852 t o ’77 1,000
1899 to 1913
do
do
Various
7
3.329.000
1869 t o ’73 1,000
Water loan bonds,mostly coupon..........
Feb.
1,1913
do
do
5
200.000
Water loan.'.........................................................
July 1,1913
do
do
J. & "j.
7
517.000
1872
£006
Forty-year bonds.................................................
May, 1891
do
do
M. & N.
7
2.669.000
Improvement bonds.......................................... 1871-’72 500 &c.
1892
to 1906
do
do
Various
7
2,630,500
1,000
do
do
............................- .............. 1872 t o ’ 74
June 8, 1900
do
do
J. & J
7
125.000
1870
1,000
Morgan street dock............................................
May
1,1897
do
do
M.
&
N
7
500.000
1,000
1872
Funded debt bonds..............................................
1889-1890
do
do
Various
7
1,000
558.000
Old Jersey City bonds, coupon.......................... 1864-’65
1889
& 1900
do
dò
Various
7
100.000
Hudson City bonds............................................. 1864-’70 Various
Jan., ’ 98 to 1900
do
do
J. & J
150.000
7
Bergen school loan bonds.................................. L868-’70 l,000&c
July,
1889
do
do
l.OOO&c
J, & J
400.000
7
1869
Bergen street improvement b on d s............... .
1889
do
do
7
Various
41,000
Various
1865
do bounty loan................ ................. - ....... ,
19Ò5-1906
do
do
Various
900.000
1875-’76
7
Assessment funding bonds..... ..........................
June 1,1886
do
do
J. & D
400.000
7
1876
Revenue bonds, coupon or registered........ .
Demand,
513
975.000
Temporary loa n .................................................
Feb.l, 1909
N.
Y.,
Merch.
Ex.
Nat.
B’k,
F.
&*
A
6
1.353.000
1,000
1879
Bonds to fund floating debt. &c., coup, or reg.
1910-1911
do
do
600.000 5 <&6 Various
1880-’l
Bonds to pay maturing bonds, & c...................
1904
1884
6
1,000,000
City of Jersey City lo a n ....................................
F a ll R iv e r. M a s s .—The sinkingfunds amounted to $361,389 Jan. 1,
Years. Real & Personalty. Tax $ 1,009. General Debt. Special Debt.
$14210
$6,386,000
$875,800 1886. Total debt, including, water debt, $3,572,861. Population in 1885,
1 8 8 4 ........ $85,978,005
56,863; 48.961 in 1880; 26,766 in 1870. Valuation in 1885, $43,815,275.
1 8 8 5 .. . . . . 88,285,845
14720
6,917,000
703,000
F it c h b u r g , M a s s .—Population 12,270 in 1880; 11,260 in 1870
—Population, 160,146 in 1880; 92,829 in 1870.
„ , .
D e s M o in e s , l a . —Assessed value of property $7,200,000, which is Valuation, tax rate per $1,000, &c. :
Real Estate. Pers’iP rop ’ty. Tax.
Delrt. 8mk.Fd.Jan.l .
about 20 per cent of true value. Tax rate, $5 per $100. Warrants out Years.
1885
........
$7,998,725
$3,055,653
$16
80
$850,000
$178,311
standing Jan., 1885, $90,082 ; cash on hand, $51,275. The renewed
.................. 8,422,675
3,071,887 18 20
8o0,000 204,130
judgment bonds for $170,000 are paid off July, 1885. Populationin 1870, 1 8 8 6
—The
assessed
valuation
of
real
estate
is
about
tlie
cash
value.
12*035 ; in 1880. 22,400.
D e t r o it , M ich ..—There are also $10,000 House of Correction bonds
G alveston . T e x a s.—Assessed value of real and personal property,
due 1893. Assets in sinking fund July 1,1885, $838,238; net city debt, 1885-86, $22,000,000. 1884-85, valuation, $18,588,196; tax rate 1 50.
$12,261. The population in 1870 was 79,577; i n ’80,116,340; in 1883, In April, 1882, the Galveston County 10 per cent bonds were called
130.000. The value of water works ils ¿about $3,500,000, against in and 6 per cents issued instead. Population in 1870, 13,812; in
a debt of $1,451,000 September, 1885.
The water works bonds 1880. 22,248; 1886,.estimated, 42,000.
are issued on a pledge of the city credit, and $75,000 per year collected
H a rtfo rd , C o n n .—Total city debt, April 1,1885, $2,737,000; net,
in taxes to pay interest on them. Valuations (based on true value) and after
deducting resources, $1,969,667; net town debts, Oct. 1, 1884,
tax rate have been :
$1,248,021. Assessed valuation in 1883, $46,000,000; in 1834, $46,000,Years.
Real Estate.
Personal.
Total.
Tax Rate. 000. Population,42,553in 1880; 37,743in 1870; 30,000inl883.
$27,928,880
$110,721,995
$11-44
1 8 8 4 .. ___ $82,793,115
H o b o k e n , N. J . —The total debt June, -1885, was $1,161,750.
1 8 8 5 .. . . . . 87,536,645
28,713.300
116,249,945
10-77
valuations in 1884: Personal, $1,343,941; real estate, $14,672,E liz a b e t h , N. J . —Default was made in interest February 1, 1879. Assessed
700;
tax rate, 2-35; population, 35,000.
_ , ,
Suits on bonds are pending. Old unadjusted bonds and loans are
H o ly o k e . M ass,—Bonds all coupon, but can be registered. Total net
$2,592,739. Total bonded and floating debt July 15. 1885, $4,264,- debt, $734,206. Valuation, 1885, $16,135,525; tax rate, $17 20. Valu
640. A proposition to issue 4 per cent bonds at 50 per cent of the
in 1884, $15,527,995; tax rate, $14 80. Population, 21,915 in
face value of old bonds was made, and $1,656,720 of the new bonds ation
10,733 in 1870; 27,895 m 1885.
, ,,
.
were issued up to July 15,1885. The Mercantile Trust Company in New 1880;d ia
n a p o lis.—The School Board is a distinot organizat’n and levies
York acts as the agent. Assessed valuations and tax rate have been as itsIn
own
tax
($2
20
for
1884),
which
is
included
in
tax
rates,
lnere
¿H ow s: In 1881, $12,296,307, rate, 1-96; in 1882, $12,182,035, rate, are a few other small issues amounting to $50,000. Valuation and
tax
6*12 ; in 1883, $12,471,115, rate, 2-64; in 1884, $12,341,735, rate, 2 00.
per
$1,000
havebeen:
In 1885 $12,465,760, rate 2-64. Population 1880, 28,229; in 1870,
Tax.
Total.
Personalty.
Years.
Real
Estate.
20,832. —(V. 39, p. 581; V. 40, p. 625; Vol. 42, p. 93.)
$11-20
$53,128,150)
$13,792,290
$39,335,860
E v a n s v ille , I n d . —There has been default in payment of interest 1883......... .
12-20
54,041,600
13,891,650
and suit has been brought against the city on the water bonds, Popula 1884................. 40,149,950
8.244
in
1870.
tion in 1870,21,830 ; in 1880,29,280. Assessed valuation (true value), —Pooulation, 75.056 in 1880 ;
J e r s e y C ity .—One oi the main oauses oi past trouble in jersey City
tax rate per $1,000 and debt have been :
finances has been the failure to collect back assessments and the large
Years.
Real Estate.
fPersonalty.
Tax.
Debt.
amount
of railroad property exempt from taxation
Ar.A
1 8 8 4 .. . . . . . . . . . . $13,527,090
$6,519,820
$10 00
$1,651,000
Tot. taxes overdue Deo. 1,1885, less due State and Co., about.$4,000,000
1 8 8 5 .. . . . . . . . . . . 13,666,645
6,682,895
10 00
1,651,000
Total
assessments
due
and
unpaid
about..
.
.
.
.
.
.
.
.
.
.
.
.
.
.
.
.
.
.
.
.
2,80U,UUU
- ( V 41, p.4 9 4 , 527.)!
IO
INVESTORS’
_______________________________________—
------- ------------
SUPPLEMENT
—
—
[Y ol.
ytjtt.
Subscribers w ill confer a great favor by g iv in g im m ediate notice o f any error discovered in these Table«.
DESCRIPTION.
—
For explanations see notes on first page of tables
>8
D ateof
Bonds.
Kansas Oily, Mo.—Renewal bonds...........
. 1875 t o ’81 $ ....
Funding bonds.......................................
1873
Floating debt bonds.....................
....
1875
Railroad bonds...................................
••••
School bonds............................... ....YY.Y.
1885
Lawrence, Mass.—Sewer loan......... "
1884
5ÓÒ&C.
Funded debt..........................
. 1862 t o ’7£ 5000&C.
do
....... ............................
1,000
1874
Water loan..................................
. 1873-’75 500 &c.
Long Island City—General bonds....... . .
. Various. Various,
Tax or revenue b o n d s ............................
500
. 1880-’85
Louisville, K y.—Water works...................
. 1857 t o ’67 1,000
For improvement of streets..................
. 1866 t o ’ 67 1,000
’For municipal improvement..................
500 &c.
1883
Re-constructing street............................
1,000
1873
Public buildings and institutions.........
. 1871 to ’7i 1,000
Public school and school houses............
. 1853 to ’6£ 1,000
Sewer bonds................................
1,000
1868
.....................................
do
1,000
1871
Elizabeth <fe P. Railroad........ ....I.IIIII
1,000
. 1868 &
Wharf property.........................
. ’54,’62,3, Í 1,000
Jail bonds..............................
1,000
1869
For old liabilities..................
. 1871 t o ’74 1,000
do
do
.....................
1,000
1868
Louisville, New Albany & St. L. Air Line RR
1,000
1871
Road bed, Louisv., Cin. & Lex. R R ................. . 1871 t o ’73 1,000
City bonds nayable’ by Louisv. & Nash. RR
1851 t o ’63 1,000
Old liabilities (half are 10-40 and half 20-40)
1,000
1880
Lowell, Mass.—City notes (various purposes).. 1862 t o ’ 84 Large.
Bridge notes.......................................................
1882
Large.
Bridge bonds................................................. ’ ’
1882
1,000
Sewer bonds................................................... I". 1882 & ’83 1,000
Water notes.......... ....................................Y.YYY. 1871 to ’ 81 Large.
Water bonds.....................................................’ ’
1870
1,000
Sewer notes.................................................... YY. 1883 & 84
Bridge notes........................
^.1
1883
Lynn. Mass.—Water notes................. " " . I I I ! ! " ! 1870-’3 -’5 Large.
Water bonds......................................................
Various
1,000
Funded d e b t..:................................. IIIIIIIIIII! Various
500 &o.
City Hall and School Houses......... I..IIIIIIIII! Various
1,000
Engine House and sewer bonds....................... .
1884
1,000
Manchester, N. S .—City b o n d s ....................III.
1869-’85
Water bonds ($100,000 each year)................. , 1872-’74 100 &o.
do
do
do
...............
1872-’74 100 &c.
Bridge bonds......................................... ..............
1881
100 &c.
Memphis, Tenn.—School and pavin g bonds . . " 1867 t o ’68
Post bonds............................................................ 1867, ’ 8, ’9 500 &c.
Funding loan, gold...................................... ...I!
1870
1,000
Mississippi River Railroad bonds.............
Endorsement Memphis & Little Rock R R .......
1857
1,000
Compromise bonds, coupon (Flippen).............
1877
1,000
New compromise bonds................................... I!
1883
1,000
Milwaukee, Wis.—Re-adjustment bonds.......
1861
500 &c.
General city bonds.............................................
1871
1,000
do
do
(not liable to be called ini
1876
1,000
do
do
..............................
1885
Bridge bonds............................................. IIIIII. 1882-’83
1,000
Water bonds, coupon............IIIIIIIIIII!!
1872
1,000
do
registered.........................IIIIIII.
1872
10,000
do
c o u p o n ......................................
1883
Waterworks refunding............................... YYYY. 1883-’84
1,000
M inneapolis, Minn.—City pon ds............I l l " " 1870 to ’75
City b o n d s .......................................... . . . I . I l l " 1871 to ’77
do
..............................................
1879
............................................... I I ." I l l
do
1881
do
($366,000 due 1912 are red.'i.902). 1881 to ’86 1,000
Mobile—Funding bonds............................‘ ...........
1881
500
Nashville. Tenn.—Various city bonds.......IIIIII 1870 t o ’ 81 100 &c.
Municipal Bridge bonds................................. Ill
1885
1,000
Waterworks..................... ...................... I I "
Newark—War bds.,float'g debt, &o. (s.fd."of’’ 64j
Public school bonds............................................ 1868 to ’84 1,000
1,000
Clinton Hill bonds, coup. & reg. (s. fd. 3 pi o’.) I
1875
1,000
Corpora te bonds, coup, or reg. (act Apr. 21,’76) 1878-’80
1,000
Sewer and improvement bonds (local liens). . ’71-’79-’86 1,000
Aqueduct Board bonds($2,490,000 due in *92)
1,000
Tax arrearage bonds.........................................
1876-’78
1,000
do
do ....................................... I 1879 to ’84 1,000
do
do ........................................HI 1885 & ’86
Funded debt bonds........................................... "
1885
Annexation bonds, reg.....................................II
1886
1,000
New Bedford, Mass.—City im provem ent..........
1875
10,000
Water bonds............................................
1876
1,000
do
....................................................... . 1867 t o ’7t) 1,000
do
.......................................................
1872-’74
1,000
do
....................................................... .
1884
5,000
Sewer bonds.............................................. .
1881
1,000
’7
c
__
Amount
Size or
par
Value.
Rate.
Principal—When
Due.
$390,000 6, 7 & 8
New York, Ninth Nat. Bank 1895 to ’98 & 1901
250.000
8
do
do
May 1,1893
142.500
8
J. & J,
do
do
1895
248.000
7
do
do
1890 & ’97
60,000
5
&
1905
300.000
4
& __
Lawrence or Boston,
107.000
6
Various Boston, Tremont Bank,
1885
to 1892
262.000
6
J. & J.
do
do
July 1,1894
1.300.000
6
A. & O.
do
do
Oct.
1,
’90.
to 1906
917,500; 6 & 7 Various
N. Y. City & L. I. City.
In instalments.
400.000
5 & 6 Various
do
do
1889
to
1903
1.173.000
6
Various N. Y., Bank of America.
1887, »89, 97
197.000
6
Various
Louisville.
1886,’
96,
’97
1.500.000
4
J. & J.
New York City.
1923
600.000
7
J. & J. N. Y., Bank of America,
July
1,
1903
549.000
7
Various
do
do
1891, ’92 & 1903
66,000
6
Various New York, U. 8. Nat. Bank.
1886 to ’89
81,000
6
J. & J. Louisville, City Treasurer.
July, 1898
423.000
7
J. & D. N. Y., Bank of America.
June,
1901
1.723.000
7
Various T do
do
1888 & 1903
160.000
6
Various Louisville and New York,
1888 to 1898
133.000
A. & O
do
do
Oct. 1, 1898
58.000
J. & D.
do
do
1889
513.000
7
Various i , do
do
1894 & 1901
484.000
7
M. & 8 N. Yj, U. 8. Nat. Bank.
Sept., 1891
350.000
7
J. & J N. Y., Continental Nat. Bk. July, 1901 & 1903
1.408.000
6
Various New York and Louisville.
1886 to ’93
1,000,000
5
M. & N. N. Y., Bank of America.
May 1, 1920
469,300 4 to 6 ^ Various
City Treasury.
1885
to 1894
200.000
4
M. & N.
Boston,
1891 and 1892
120,000
4
M. & N.
1 QQ9
do
382.500
4
Various
do
1884 to 1903
575.000 6 to 6*3 Various
City Treasury.
I 1886 to 1911
1.300.000
6
M. & N.
Boston.
1890
176.500
4
Various
City Treasury,
10 per ct. annually
77.000
4
Various
do
10
per
ct.
annually
121.500
6
Various
City Treasury.
1885 to 1890
1,081,500 3*2 to 6 J. & J. Boston, Bank Republic,
1891 to 1913
595.000 5, Shs, 6 Various
do
do
1884 to 1896
357.000 37s. 4, 6 Various CityTreas’ry & Bk. Repub
1886 to 1890
55.000 3% & 4 Various
do
do
,313,500
6
Various
City Treasury.
1885 to 1894
200.000
6
J. & J.
Suffolk Bank, Boston.
July 1,1890 & ’95
400,000
6
J. & J.
City Treasury,
1887-’92-’97-1902
60.000
4
J. & J.
do
July 1, 1911
1873 to 1902
6
J. & J.
Memphis.
5
1873 to 1900
M. & N.
Nov., 1900
<30
rH
2,400,000'
171.000
206.000
98.000
150.000
153.000
363.000
1.007.000
135.000
278.000
621.000
360.000
40.000
22.000
1.957.000
2,233,500
1,395,600
200.000
450.000
1.405.000
576.000
400.000
1.200.000
2.450.000
3.285.000
888.000
1.002.000
212,000
232.000
126.000
223.000
100.000
400.000
180.000
100,000
50,000
arrears came in. Population in 1880,120,722, against 82,546 in 1870in 1885 by the State census population was 155,300. Taxable valual
tions and tax rate per $1,000 have been :
Fears.
Real Estate.
Personal Prop.
Tax Rate.
............................ $56,125,552
$5,640,300
1882
$29 00
1883
........................... 58,287,892
4,664,390
29 40
1884
........................... 61,571,512
4,564,683
32 80
Estimated tax rate in 1885-86, $29-20 per $1,000.
K a n s a s C it y , M o .—In 1885 assessed valuation was $31,678,520
and tax rate 15 mills. In ’84 valuation, $30,900,000; tax levy, 15 mills.
L a w r e n c e ,M a s s .—^Total debt, $1,764,000. Sinking funds, $325 534
Tax valuation, 1882, $26,269,506; tax rate, $16 60. In 1883val; $27,369,095; in ’ 84, $27,369,095; Pop., in 1884 45,000; 39,151 iA
80; 28,921 in ’ 70.
L o n g I s la n d C it y .—The assessed valuation in 1885 was $7,299 170 on real estate and only $37,500 on personal property; the rate of
tax was 4-04. For State purposes the valuation was increased to $10
000,000. Real valuation about $25,000,000. Population, 25,000
’
L o u i s v i l l e .—The funded debt, Jan. 1,1885, exclusive of loanspavable by railroads, was $9,016,000, against $9,167,000 Jan. 1,1885 The
sinking funds on Jan, 1,1886, amounted to $4,390,815. Population bv
Census of 1870 was 100,753, against 123,758 in 1880. The following
figures give the assessed property valuation: 1881, $68,753,770- 1882
f f o ,029.724, of which $52,269,684 was realty. In i883 vaiuation
$66,118,534, tax rate 2-10; in 1884, $63,927,077, tax rate 2-10 • in
1885. $62,763,461, tax rate 2-48. (V. 38, p, 509.)
’ m
L o w e l l ) M a s s .—All the notes held by savings banks. Water loan
sinking fund Oct. 1,1884, $415,470; other sinking funds, $227.649 Pon
59,475 in 1880; 40,928 in 1870; 75.000 in 1884. Assessed valiiatim
in 1883 were: Real estate, about $35,057,275; personal property $14 895,526; taxrate, $15 20; in 1884, valuation, $36,510,201 real estate
and $14.671,684 personal; tax rate, $17 50.
L y n n . M a s » .—Valuation ’ 83, $24,687,524; rate, $19-60; in 1884
$27,048,581; tax rate, $18-40. Population, 28,233 in 1870; about
45,000 in 1883.
*
o u ‘l
INTEREST.
When
Where Payable and by
Payable
Whom.
i*
7
6
3-4
5
7
7
4
4
7
7
4
4
8
7
6
5
4-4 ^
3 to 5
6
5
6
6&7
5&7
7
5 &6
4& 7
7
7
5
4 1«-5
5
4
6
5
6
7
4
4
& J.
& J.
& D
& J,
&D
& J,
J. & J.
J. & J.
J. & J.
J. & J.
J. & J.
Various
Various
Various
Various
Various
J. & J
Various
A . <fc O
Various
A. & O.
J. & J.
Various
M. & S.
Various
F. & A
F. & A
J. & J
F. & A
A .& O .
A. & O.
a . & o.
A. & O.
A."&"o.
Charleston, 8. C.
July, 1872
N. Y., Nat. Park Bank,
1907
do
do
1913
Mil.&N.Y., Morton B. & Co
June 1,1891
do
do
Jan. 1,1901
do
do
June 1,1896
do
do
1005
do
do
July 1,1902
do
do
Jan. 1,1902
do
do
Jan. 1,1902
do
do
1903
do
do
1903-1904
New York, Nat. Park Bank,
1886-1905
do
do
1897-1902
do
do
July 1,1899
do
do
1893
do
do
1906 to 1916
New York and Mobile.
Jan. 1, 1906
New York and Nashville.
1886 tö 1903
N. Y., Chemical Nat. Bank,
Oct. 1, 1905
do
do
1907-1915
Newark, City Treasury,
1886 t o ’96
do
do
April, 1886, to’ 92
Newark, Nat. State Bank,
July 1, 1895
do
do
1909 & 1910
do
do
1893 & 1906-’09
do
do
1892to 1909
do
do
1886-’90
do
do
1891-’94
do
do
July 1,1895-6
do
do
1895
1906
City Treasury,
1891 to 1910
do
1900 to 1904
do
1886 to 1909
do
1886 to 1909
do
1894
do
1887 to 1891 .
mM a n c h e s t e r , N . M .—There are also $16,000 5s due before 1885.
Total debt Jan. 1, 1883, $927,500 Valuation in 1883, $20,055,986 ;
tax rate, $16 30 per $1,000. Valuation in 1885, $21,137,464; taxrate.
$17 50 per $1,000. Population, 32,630 in 1880; 23,536 in 1870.
i
T e n n .—The city was in default for interest after Jan. 1 „
kefpslatnre passed a bill, January, 1879, repealing tbe city*®'
charter, and the
Taxing District of Shelby County” was organized.
t?*^ compromise bonds oi 1877 were issued at 50 cents on the dollar.
Under the act of Tenn. March 3,1883, new compromise bonds are issued,
bearing 3 per cent till January, 1886, then 4 per oent till 1889, and &
per cent thereafter. The total debt when funded will be nearly
$3,000,000. Valuation of real and personal property in 1883, $12,690,318; tax rate, $2 35 on the $100. In 1884 valuation of real and per
sonal property, $13,499,325; tax rate, $2 35. Population in 1870..
40,226; in 1880,33,592; in 1884, 62,335. (V. 39, p. 727.)
M ilw a u k e e . "W Is.—The city cannot issue debt beyond 5 per ct. of itsf®“ and personal property for five years. In
^ 8 4 valuation was $74,951,750; hi 1885 real estate, $61,445,921; personal, $17,415,445; total, $78,861,366, Sinking funds are provided,
and all old issues except the general bonds due 1896 may be called in
and paid by sinking fund; holders were misled because this was not?1
s t a t ^ m the bonds. Population, 71,440 in 1870; in 1885 (estimated),.
^ M in n e a p o lis , M in n .—Total debt, $3,031,000Feb. 1,1886; sinking
tax valuation in 1886, $82,984,396 real estate and
f o I ’^90£r!i7Qnl)^ri8i)1Va,1—t0+aH ocAP°’£®4;568 ; in 1885, $77,500,000; in
i§ £ 4rlJl74’3
-i0Q%Zl l j tax rate 1885>20 “ dU»«. Population, 46,887 in 1880;
1299
200 1H iooD«
Y M o b ile .—Interest was in default from July, 1873. A settlement withbondholders was offered by- act of March 9,1875. In Feb., 1879, the
Legislature repealed the charter of the city. In Oct., 1880, bondholders
offered to take new 25-year bonds, bearing 3 per oent for 5 years. 4 per
cent for 15 years, and 5 per cent for 5 years. In Nov., 1884, the un
funded debt was estimated at $110,000. Valuation oi real and per
sonal property in 1883, $15,350,738; in 1884, $13,578,347, in 1885, $13,763,822. Population 35,000 in 1885; 31,297 m 1880; 32,034 in 1870..
O cto ber , 1886.]
CITY
SECURITIES.
11
Subscribers w ill confer a great favor by g iv in g Im m ediate notice o i a n y error discovered in these Tables,
INTEREST.
Principal—When
Amount
Date of
Size or
DESCRIPTION.
due.
When
Where payable and by
par c utstanding.
Bonds.
Rate.
Whom.
payable
Value.
For explanations see notes on first page of tables
1885-1900
6 &7
$198,500
1892-97-99-1904
7
180.000
1888
7 '
50.0< 0
1887-92
7
50,000
1901-1903
5 &6
87,000
1894-1903
6 &7
836,600
Oct. 1. ’91&1901
City Treasury.
A. & O.
7
499,000
Oct. 1,1886
do
A. & O.
6
20,000
July 2 , 1887-’97
do
J. & J.
5
150,000
1895 to 1904
do
3^
F. & A.
150,000
1892 to 1934
New
Orléans.
J.
&
J.
5, 6 ,7
932,878
1892 to 1923
do
J. & J.
6
4,244,500
Jan., 1893
do
6
J. & J.
2,112,108
1894 to 1923
do
6
Various
397,000
1894
& 1922
do
6 & 7 M. & S.
567,7*0
1895 & 1922
do
6 & 7 J. & D.
375,750
1897
to 1923
do
6 & 8 Various
65,500
When drawn.
do
5
7,701 Ì800
1899
to
1923
do
5 &6
82,400
1892 to 1923
do
378,130 6 to 10
1886 to 1914
City Treasury.
362,350 4,5,6,6ia Various
997,000 4, 5, 6 Various îoston, Comm’nwealth Bk. July 1,1905 to ’ 14
7
M. <fc N.
3,904,700
( 1886 to 1888
1886 to 1888
7
M. & N.
3,600,000
Aug. 15, ’94,1904
3
M. & N.
1,172,000
Nov. 1,1886, t o ’90
3,028,000 3 ,3ia,4,5 M. & N.
1887,1903 « 1910
3,277,050 4,5,6 & 7 M. & N.
Aug. 1,1900
1,331.300 5, 6 & 7 M. & N.
Feb. 1,1890
5 &6
O
Q .-F .
321,400
1891,
’ 99 <fe 1904
3iato
6,7
M.
&
N.
5,609,000
|
Oct. 1,1933
O
445,000 3, 3ia A. & O.
Oot.
1, 1904
6,500,000
3ia A. & O.
Nov. 1,1900-1906
5,196,000 4,5, 6& 7 M. & N.
Aug.
1,1907
Q-—E.
6
20,000
Nov. 1,1887
6
Q.—F.
3,066,071
July
1,
1898
5 &6
674,300
Q .-F .
a i
Aug. 1,1887
6
Q .-F .
2,083,200
June 1,1895
6
Q .-F .
1,766,600
Aug. 1,1888
7
M. & N.
75,000
4
.
00) 0Q
Nov. 1,1889 * '9 2
7,977.515 5 ,6 & 7 M. & N.
1900 & 1926
5 & 6 M. & N.
701,419
là
Nov. 1,1896
820,000
6 g- M. & N.
m 'S
Aug. 1,1889
6 & 7 M. & N.
700,000
1901-1904
4,799,000 5 ,6 & 7 M. & N.
July 1,1901
8,885,500
6 g. J. & J.
July 1,1901
6 g. J. & J.
4,252,500
s .
July 1,1901
1,000,000
6 g. J. & J.
*p s
Jan. 1.1902
6 g. J. & J.
862,000
Nov.
1,1896
M
I
6,900,000
5 g- M. & N.
Nov. 1,1928
1,564,000
6 g. M. & N.
ta
Nov.
1,1894
2,455,000 6 & 7 M. & N.
Deo. 1,1896
7
J. & D.
1,630,200
£8
Deo.
1,1896
■2 o
7
J. & D.
6,324,700
May 1,1916, & ’26
5 & 6 M. & N.
1,858,349
œ’§
g
«
Nov. 1 ,’89,’97,’99
4 & 5 M. & N.
941,135
Aug., 1894
4
M. & N.
2,800,000
sd7*
Nov. 1,1910
3
M. & N.
180,000
O£
Nov. 1,1906
3
M. & N.
60,000
Nov. 1,1901-1915
11,053,000
3 to 7 M. & N.
Nov. 1,1905
3
M. & N.
25,000
©*”
Nov. 1,1899
6
M. & N.
521,953
May
1,1894 & ’97
6
&
7
M.
&
N.
296,000
May 1,1903
958,000 4 ,5 & 6 M. & N.
H
H
Nov.
1,1891
499,500 3 ,4 & 5 M. & N.
Nov. 1,1905
6
1,500,000
M. & N.
©S
May
1,1926
te
,
a
500,000
6
M. & N.
May 1,1926
gH
1,921.900
5
Q .-F .
Uo
May 1,1928
4 & 5 M. & N.
1,166,666
Nov. 1,1890
CSH
300,000
M. & N.
7
Nov. 1,1891
©«H
6
M. & N.
200,000
Nov. 1 , 1886-’98
1,716,000 4 ,5,6& 7 M. & N.
Nov. 1 , 1886-*88
60.000
6
M. & N.
Dec. 1,1891
30,000
6
M. & N.
Nov. 1,1891
636,000
6
M. & N.
£•1
Aug. 15,1894
802,845
3
M. & N.
+3
Nov. 1. 1886
6
M. & N.
25,000
O
Nov.
1,1888
6
M.
&
N.
606,900
1886-’90
6
M. & N.
2,510,400
Nov.
1
,1895-*97
745,800
7
M. & N.
1
M
Nov. 1,1891
376,600
M. & N.
7
Nov. 1,1890
3,000,000
7
M. & N.
Nov. 1,1890
5 & 6 M. & N.
398,000
Nov.
1,1902
475,000
6 & 7 M. & N.
1886 to 2147
725,000
7
Various
E
January 31, April 15, July 31 and October 15. Population in 1880
216.090.
Newton» M a ss.—Sinking funds, Jan. 1, ’ 86, $204.451. In 1883
valuation $27,124,088. In 1884 valuation $27,814,561; tax rate,
$14 40. Valuation in 1885, $23,999,820; tax rate, $14 per $1,000.
Population 19,7 >9 in 1885; 16,994 in 1880; 12,825 in 1870.
N ew Y o r k C ity .—The total debt of New York, January 1,1886, was
$125,475,240; the amount of sinking funds, $36,113,814. The follow
ing statement shows the details of funded debt and the amount in the
city sinking fund at the dates named:
Description,
Jan. 1,1884.
Jan. 1, 1885.
Jan. 1,1886.
Total funded debt.$130,680,571
$126,371,138 $125,475,240
Sinking f u n d . . . . . .. . . . . .
38,134,545
34,823,735
36,113,814
Net funded debt. $92,546,026
Revenue bonds...
2,983,883
$92,047,403
2,358,825
$89,361,426
3,670,525
Total net debt. $95,529,909
$94,406,228
$93,031,951
The population of New York, by the U. S. Census, in 1870 was 942,292,
and 1,206,299 in ’80. Jan. 1, ’65, and since Jan.,’72, the valuation, rate
of taxation, and net funded debt at end of year have been as follow s:
Net Debt,
Personal
Tax p. $1,000
Real
Deo. 31*
Estate.
State. City.
Years.
Estate.
$35,973,597
1865.......... $427,360,884 $181,423,471 34 96 $24 94
95,467,154
306,949,422
5 20 23 81
1872......... 797,148,665
114,979,970
1 8 7 4 1 .. . . 881,547,995 272,481,181
6 65 21 35
116,773,721
1875
883,643,545
217,300,154
7 27 22 13
119,811,310
21
49
1876
892,428,165
6 51
218,626,178
117,700,742
3 78 22 72
1877
895,063,933
206,028,160
113,418,403
2194
3 56
1878
900,855,700
197,532,075
109,425,414
3 43 22 37
1879
918,13»,330
175,934,955
106,066,240
22
13
3 12
1880
942,571,690
201,194,037
102,618,301
3 60 22 60
209,212,899
1881
976,735,199
100,388,483
'—-22 50-198,272,532
18S2.......... 1,035,203,816
95,529,909
22 90
197,546,495
1883.. ___ 1,079, i 30,669
94,406,228
22
50
218,536,746
1884
.1,119,761,597
24 00
93.031,951
202.673,866
1885
1,168,443,137
217,027,221
1886
.1,203,941,065
t Annexed town i
* Less sinking fund.
. . . . . . .
N ash ville. T e n n .—Assessed valuation of all property in 1886 was
$25,671,200; tax rate, l ' j p . c. Population, 43,350 in *80; 25,865 i n ’ 70.
N ew a rk .—The bonds in the first line in the table are payable out of
the sinking fund of 1864, which amounted Dec. 31,1885, to $1,392,212:
ublio school bonds out of public school fund, $489,762; Clinton Hill
onds by sinking fund $190.393. The total amount in the sinking funds
on Dec, 31,1885, was $3,647,301. The Aqueduct bonds are not a direct
liability of the city of Newark. Real and personal property have been
assessed at about two-thirds of true value as follow s; 1884, real estate,
$72,456,775; personal, $18.524,775; tax rate, $2 03; 1885, real estate,
$74,189,110; personal, $18,730,160; tax rate, $1 93. Population in
1670,105,059, against 136,508 in 1880, and 155,000 in 1885.
N ew B ed ford , M a ss.—Population, 26,845 in 1880; 21,320 in
1870. Assessed valuations (true value), rate of tax, &c., have been:
Personal Rate of Tax Total Debt,
Trust
Years.
Real Estate.
Property, per $1,000. Bonds.
Funds.
1883........ $15,109,300 $15,180,305 $16 80
$ ........
$ .......
1884........ 15,635,900
15,718,182
16 60
1,083,000
104,100
N ew B r u n s w ic k , N. J .—A financial statement made for April 1,
1885, showed the taxable real estate assessed at $4,118,300, and per
sonal property $1,212,150; tax rate, $3'99. The total funded debt April
1,1886, was $ 1,5(32,0 00; sinking fund, $90,917.
N ew H a v e n , C on n .—Municipal bond fund, $37,011. The city
made aspecialloan of $75,000to the New Haven & Derby RR., and guar.
$225,000 of its 2d mort. bonds. Popula. in 1870,50,840; in 1880,62.882
Assessed valuat’n (about 80 p. ot. of true value), tax rate, <ftc., have been:
Years. Real Estate. Personalty. Rate of Tax. Tot. D’bt. Skg.Fds.&o.
1884....$36,298,114 $14,271,224 11 mills. $714,000
........
1 8 8 5 .... 42,000,000 16,000,000
11 mills. $319,000 $114,078
N ew O rleans.—The debt as giv en in the above table is as outstanding
June 30,1886, In June, 1882, a law was passed to issue new 6 per
cent 40 year bonds for all old bonds other than premiums; the extended
bonds run till 1923, but are redeemable after 1895. Certificates were
issued for overdue coupons to Jan. 1, 1883, and though made for ten
years the certificates are payable at option. The assessed valuation of
property, real and personal, for 1883 was $103,091,103; tax rate $2; in
1884, $114,581,744; tax rate 2; in 1885, $123,929,268; tax rate $2-54;
in 1886, $127,705,853 ;tax rate $2’02. Ascheme for settling the debt by
a bond premium drawing plan is in practice, and drawings take place
.
New Brunswick. N. J.—
$ ....
Water bonds ($20,000 are 6s)............................
1st & 2d mort. water bonds (ists are $30,000) 1867-69
1876-78
City tax bonds...............................................—
1873
Improvemfnt b o a d s .............................. - .........
Sinking fund bonds.......................- .................... 1881. 5
Commissioners of streets and sewers...............
1,000
18*71
Sew Haven, Oonn.—Sewerage..............................
1,000
1867
For Derby Railroad ($20,000 payable yearly)
1877
1,000
City bonds (10-20 bonds)..................................
1885
1,000
Sewerage bds. (pay’le $15,000 y’rly from ’95).
S ew Orleans—Consolidated debt......................... .854 to *8< 1,000
1,000
....1
Consolidated debt, extended............................
1883
Ten year certificates to fund coupons.............
1,000
Railroad debt (all extended except $39,000).. 1854-75
1869
Seven per cent funding loan of 1869...............
1870
Seven per cent funding loan of 1870...............
1857
Jefferson City (debt ass umed) $41,500 extend’d
1875
Premium bonds (in exchange).....................
1869
Water Works ($70,400 extended) ...............
Other old bonds ($305,500 extended)........
l.OOO&c
Newton, Mass.—City bonds and notes.............
: 1,000
Water loan ($600,000 6s)....................................
100
New York—Accumulated debt bonds, city.......... 1869-’70
100
Accumulated debt bonds, county............: ....... 1869-’70
1884
500
Armory bonds.......................................................
500
Assessment bonds.............................................
500
Assessment fund stock....................... ...............
7
500
Additional new Croton Aqueduct stock............
100
Croton water stock....................................... .
500
Additional Croton water stock..........................
500
Additional water stock, red’m’ble after 1913.
1885-6
Additional Water stock......................................
500
Croton water main stoofc.................................... 871 to ’8
100
1866
Croton Reservoir bonds.....................................
J
100
Central Park fund stock.....................................
3
100
do
do
......................................
0
100
Central Park improvement fund stock...........
1
100
do
do
...............
100
1869
City Cemetery stock....................: ......................
8
500
City improvement stock.....................................
0
500
do
do (cons., $687.803 red. aft.’96)
500
1874
City impr. stock (cons, st’k), op., exch. for reg.
0
100
City Lunatic Asylum stock................................
0
500
City parks improvement fund stock................
2
500
Consolidated stock, county, coup., ex. for reg.
2
500
do
city,
do
500
1871
do
dock bonds
do
500
1872
city pks. impr. fd. st’k ,d o ..
do
500
1878
red. aft. 1908, op. ex. for rg.
do
500
city, coupon exch. for reg..
do
4
500
do
city, (A)................................
500
1874
county (A & B)....................
do
500
1874
city (B & C).........................
do
500
city (D E & F ).....................
do
4
500
city (G K L & M )................
do
500
1880
do
city.......................................
500
1884
consol, st’k (Riker’s Isl’d)..
do
500
1886
dp
(Harlem Rive iBridge).. ..
500
.870 t o ’I 4
Dock bonds
500
1884
Consol, stock (Metropolitan Museum of A r t ..
100
Fire Department stock................ ..................... 1869-’7
9
100
Market stock.......................... , ............................
i
500
Museums of Art and Natural History stock.
4
500
N. Y. City bds.for const.of bridge ov. HarlemR
5
100
N. Y. Bridge bonds............................................ .
500
1876
do do Consol, stock, redeem, after ’9 6 . __
0
500
do do $500,000 a f.’96,$1,421,900 af 1900
3
500
do do $750,000 af. 1903, $416,666 af. 1905
500
1871
Ninth District Courthouse bonds.....................
r2
500
Normal school fund stook..................................
S2
100
N. Y. Co. Courthouse [st’k, Nos. 1, 3, 4 & 5 __
500
New York County repairs to buildings stook..
1870
500
1871
N. Y. and Westchester Co. improvement bonds
r4
500
Public school building fund stock....................
500
1884- j
School House bonds...........................................
r5
___
Sewer repair stock.............................................
rQ
100
Street improvement bonds...............................
100
1864
(Soldiers’ bounty fund bonds.............................
100
do
do
No. 3 ....................
1865
100
Soldiers’ bounty fund red. bonds, No. 2 ..........
1865
500
Tax relief bonds, No. 2, coup. exch. for reg...
1870
500
:74 to " 77
Third District Court-house bonds....................
500
Water stock of 1870..........................................
1872
500
Debt of annexed territory of Westchester Co.
UNTESTORS’
1 2
SUPPLEMENT.
I. Vo l . X L I I I .
Subscribers w ill confer a great favor by g iv in g im m ediate notice o f any error discovered In these Tables
DESCRIPTION.
For explanations see notes on first page of tables.
f
.
Size 01
Amount
outstanding * Rate.
par
Value
Norfolk, Va.—Coupi b’ds ($20,000 6s are J. <fe’J.)
4
$100
Coupon bonds of 1881 (exempt)..................
1881
Trust and paving, coup......................................
3
IOC
Coupon Donds..... „ ............... , ...........................
Coupon bds., water (a mort. on water works).,
100
1871
NorUnch, Conn.—City bonds.......... - ...................
1,000
1877
Water loan ($50,000 1890, $250,000,1898)...
3, ’7 8 ,’ ;30 1,000
Court House.........................................................
1875
1,000
Sinking fund bonds..............................................
1878
1,000
Funding 10-30s..................................................
1883
Paterson, N. J.—School bonds...............................
3
500
Funded debt bonds............................... .............
L
500
Sewer b’ds ($145,000are M. <&S. & $90,500 5s). 1869- 2
500
War bounty bonds................................................
3
500
Funding bonds, “ A ” . . . .................................. .
1877
1 0 0 «fee
Renewal bonds,’ ‘B” and “ C” . ......................... 1877-’ 8‘ 1=
500
Philadelphia—Consolidated city loan.................
50 «fee
Bonds for railroad stock subsidy subscript’ns
1855
50 &c
do for water works......................................
’1 50 «fee
do for bridges................................................
0 50 &c.
do for park and Centennial.........................
0 50 &c.
do for war and bounty purposes...............
5 50 &c.
do municipal, school, sewer, «fee.................
0 50 «fee.
Guaranteed debt, gas loans...............................
50 &c.
Four per cent loan (“ A” to “ Y ” ) ....................
1879
25 &c.
Peoria, Ills.—School loan.......................................
War loan...............................................................
...»
Water l o a n ....................... ............................
Peoria & Rook Island Railroad.........................
Pittsburg—Water exten. loan (coup, or reg.)___
4 100 &c.
Water loan, reg...................................................
1878
25 «fee.
Funded debt and other municipal bonds........ L845 to ’7 2 500 «fee.
Compromise railroad bonds (coup, and reg.)..
1863
100 «fee.
Funded debt improvement bonds, cp. & reg ... 1882-’83
1 0 0 <fco
Improv. bonds coup.or reg.(Act of May 9,’79).
1885
100 «fee.
Portland, Me.—Loan to Atl. & St. Lawrence RR.
) 1,000
Loan to Portland <fc Rochester Railroad........
9 500 «fee.
do
do
do
.........
1872
500 «fee.
do Portland & Ogdensburg......................
1872
1,000
Municipal—proper.......................................... .
859-7Î 500 «fee.
Building loan bonds............................................
1867
1,000
Providence, B .I.—Recruiting and bounty bonds
1863
1000<&c.
Water loan bonds, gold, coupon.......................
1872
1000<fcc.
do
do
registered...................
1874
1000<fec.
do
do
do
..................
1876
1000<fec.
City Hall <&sewer loan b’ds, sterling, cp. or reg
1875
£100
do
loan of 1879........................ ]
1879
1000<fec.
Public improvement loan, registered...............
1879
Large.
Prov. & Springfield RR. bonds, guaranteed..
1872
1,000
Brook Street District certificates, coupon . . .
1879
1,000
New High School Building certificates............
Various
Richmond, Va.—Bonds, reg.,($118,000 are coup.)
Bonds, reg. and coup. ($213,500 are coup.)...
New fives, 10-34 years, registered...................
Bonds................... ..............................................
Rochester, N.Y.—To Genesee Valley Railroad ..
1872
1,000
To Roch. & State L. and R. N. & P. Railroads.
1000<fec.
For various city improvements.......................
Various
Water works loan, coupon and registered.......
1000<fec.
Funding loan......................................................
1875
1,000
Consol loan........ . . . '............... .............•..............
1882
5,000
Rockland, Me.—Municipal bonds........................
50 «fee.
Railroad loan ($20,000 payable yearly)........
1869
100 «fee.
dO
............................................ ..........
1871
100 «fee.
do
..................................... '..................
1872
100 «fee.
Notes and certificates of deposits....................j
St. Louis—Renewal and floating debt bonds___ 1868’ to ’71 Various
Real estate, buildings and general purposes.. 840 to ’6; Various
Street improvement bonds............................. ..
1857 Various
Tower Grove Park bonds (gold).....................
1868
1,000
Sewer bonds......................................................... Various
1,000
Harbor and wharf bonds....... .-.........................
Various
New water work bonds (gold)............................
1,000
do
do
do ............................
1872
1,000
do
do
do ............................
Renewal and floating debt bonds (gold)..........
1874
1,000
Renewal purposes, gold or sterling............... .
1873
1,000
Renewal, &c., bonds, gold, $ and &.................. 1845-75
1,000
Renewal, «fee., bonds, gold $ and &, coupon... 1876 to ’79 1,000
Renewal bds.,gold,$ and &(part red’mable ’90)
1880
1,000
Renewal bonds, gold.......................................... 1882 to ’85
Bridge approach bonds (gold)..........................
1872
500
Gold bonds to pay Pac. RR. bonds, $ or
1885
1,000
Bonds, gold, £ or $ ............. ................................
1885
1,000
St. Louis County bonds assum edinsane Asvlum...............................................
1867
1,000
INTEREST.
Where Payable and by
Whom.
Principal—When
Due.
$933,59i
6
Norfolk and Baltimore,
1894 to 1900
350,000
5
do
do
1911,1914
290,80(
8
do
do
Apr.,
’92, July,’93
241,00(
5
1913
& 1914
640,000
5 <fc 8
New York and Norfolk. 1901,1914 & 1915
160,000
5
Norwich,
April 1, 1907
300,000 5, 6 <fe7
do
1898,1908 <fe1910
164, OOC
7
do
Jan. 1,1905
50,000
5
do
April 1,1908
125,000
4
1913
58,000
7
City Hall, by Treasurer,
1886-1904
80,000
7
do
do
1886
to 1900
403,500 5, 6 ,7
do
do
1886-1902
306,500
7
do
do
1886
to 1900
100,000
6
do
do
June, 1887
210,000 4*2 <fe 6
do
do
1901-1906
2,298,245
6
Philadelphia, by Treasurer, 1886 to 1906
1,275,400
6
do
do
6,500,000
6
do
do
1886 to 1903
4,853,500
6
do
do
8,701,600
6
do
do
11,650,000
6
do
do
1886 to 1905
16,134,575
6
do
do
3,756,000
6
do
do
1899 to 1905
6,898,800
4
„ _ do
do
1886 to 1904
81,500
7
N. le., Mercantile Nat. Bk.
1886 to 1898
42,000
4^a
do
do
Mar.
1 , 1902<fe’03
450,000 5. 6 g., 7
do
do
1888-’89-1901
100,000
7
New York.
July
1, 1888
4,282,500
7
Phila., Townsend, W. & Co.
1893 to ’98
300,000
6
J. <fe J,
do
do
1908
1,281,000
6 <&7
Pittsburg and New York.
1886 to 1912
2,176,300
4 <fe 5
New York, B’k of America.
1913
1,480,000
5
Dittsb’rg and Philadelphia.
1912-1913
3,747,000
4
J. & D.
Pittsburg, Treasurer.
Dec.
1,1915
787,000
6
M. <fe N. Boston, Blackstone N. B’k. Nov.,1886,’87,’88
627,500
6
do
do
July,
1887
416,000
6
do
do
July 1, 1897
1,200,000
6
do
do
Sept. 1,1907
837,000
6
Boston and Portland,
1887 to 1897
325,000
6
& D.
do
June 1,1887
300,000
5
<& J.
Providence.
Jan., 1893
2,028,000 5 <fe 6 g. J <& J. Boston, Prov. and London.
July, 1900
1,972,000 5 <fe 6 g. J & J. N. Y., N. City Bank, &Prov.
July,
1900
1,500,000
5 g. J <& J.
do
do
July 1,1906
1,397.250
5 g. J <& J. London, Morton, Rose <fe Co
July
1,1895
600,000
4ia J <fe D
Providence,
June 1,1899
596,000
5
J <& J
do
July 1 ,’99 & 1900
500,000
7
do
1892
140,000
413 D
Boston and Providence
May 1.1886
58,938
4>a 1
do
do
1886
2,485,858
6
J <fe J
Richmond, Treasurer,
J.& J., 1887-1914
966,200
8
J & J.
do
do
1904-1911
1,178,000
5
J
do
do
July, 1914-’20
101,000
4
1920
140,000
7
J & J.
N. Y., Union Trust Co.
1886 to 1903
750,000
7
B
New York and Rochester,
Feb.
1,1893
667,000
7
\
do
do
1886 to 1902
3,182,000
7
J & J.
N. Y., Union Trust Co
Jan.
1,1903
410,000
7
J & J.
do
do
Jan. 1,1905
100,000
4
F
do
do
Aug. 1,1912
546,400
4 <&5 S
City Treasury.
1886 to 1911
€8,800
6
J & J . ................... do
1886 to 1899
60,800
6
F & A.
do
1891
54,800
6
¡V
do
1902
153,338 t'65 to 4
do
On call.
2,452,000
6
V
N. Y., Nat. Bank Republic
1886 to ’91
673,000
6
V
do
do
1886 to 1906
10,000
6
V
do
do
1887
346,000
6 g. F
do
do
Aug., 1898
1,108,000
6 g. V
do
do
1887 t o ’95
641,000
6
V
do
do
1886 t o ’ 88
3,950,000
6 g. J. & D. New York and St. Louis. June, 1887, <fe 90
1,250,000
6 g. A
N. Y., Nat. B’k Commerce,
April 1,1892
800.000
6 g. M
do
do
July 1, 1894
1,372,000
6 g. V
New York or London,
1894
1,324,000
6 g. M
do
do
Nov. 1,1893
722,000
6 g. M
do
do
1895
1,368,000
6 g. J.
do
do
1896-1898-1899
1,024,000
5 g. V
do
do
Jan.&
June,
1900
913,000
6
do
do
1895 to 1903
461,000
6 g. J. <fe D. N. Y., Nat. B’k Commerce, Deo. 10,1892
620,000
4 g. F. & A. New York and London,
1905, red. 1895
965,000
4
J.
do
do
June 1,1905
100,000
7
J. <fe J. N. Y., Nat. Bk. Commerce.
July 1,1887
..
..
..
.
not exceed 10 per cent of the assessed value of real estate, and this 10
per cent was construed by the Court of Common Pleas (General Term)
to include the bonds in the sinking fund as apart of the debt. See V 41
p, 688. (V. 39, p. 49, 727; V. 41, p. 51, 69, 242, 688; V. 42, p. 575 753 !
V. 43, p. 41.)
’
’
Norfolk:, V a .—The assessed valuations and tax rate per $1,000 are*
Years.
Real Estate.
Personaltv. ■
Tax Rate.
1882.................... . ................... $9,590,431
$1,363,403
120
1 8 8 3 ..
. . . ..
9,776,197
1,722,492
20
1,494,483
1 8 8 4 ..
.-................................ 10,086,898
20
1 8 8 5 ............
12,307,131
1,899,550
18
—Population by U. S. Census in 1870, 19,229 ; in 1880, 21,966.
N orw ich , C on n .—The assessed valuations, tax rate, «fee., are:
Real
Personal
Rate of
Years.
Estate.
Property.
Tax
1880
$7,438,097
$2,976,028
8 nfiUs
1881
...............
7,382,834
2,872^566
10 «
1882
....
7,362,364
2,762,931
10 “
1883
......................... 7,392,767
2,658,058
9 «
—Sinking fund, May, 1883, $33,778 ; population, 21,145 in 1880 ; 16.
653 m 1870.
P a terso n , N. J .—Finances are apparently in a sound condition
The assessed valuations, tax rate per $1,000, «fee., have been:
Years.
Real Estate.
Personalty. Tax Rate.
Debt
1882.................. $17,746,040
$3,768,240
2-30
$1,251 500
1 8 8 3 ..
. . . . . . . . . . . 18,506,048
3,856,635
2-28
1217 500
1 8 8 4 ..
. . . . . . . . . . . 18,521,342
3,876 075
2-50
1168 500
1 8 8 5 ..
. . . ..... 19,205,501
3,816,500
2-50
1 168 500
—Population, 51,031 in 1880 J 33,579 in 1870.
| U
P h ila d e lp h ia .—On Aug. 1, 1886, the debt was $60,059,820. In the
following table the assessed value of real estate is near its cash value:
Years.
Real Estate,
Personalty. Tax Rate.
1 8 8 2 ..
................
$545,608,579
$8,166,650
$19 00
1883............................
562,687,555
8,795,700
18 50
1 8 8 4 ..
. . . ......................... 573,728,105
9,884,578
18 50
1 8 8 5 ..
. . ........................... 587,749,828
10,035,600
18 50
1 8 8 6 ..
. . . . . . . .................. 601,001,971
10,307,644
18 50
1 8 8 7 ..
. . . .............
618,059,987
10,619,325
valuations J°f Property for 1887 are: Full citv nroperty,
» 5 8 7 , 0 3 5 ; suburban property, $40,203,885; farm property, $18,888,392. Tax rate, $----- . Population, 1870, 674,022, against 847,X/v/ lU loot).
. J P e e rla .llU .—Totai debt, $673,500 in 1886. Population, 29,259 in
1880; 22,849 in 1870; in 1886 (estimated), 45,000.
assessed valuation in 1884 was: Real property:
$105,404,721»; personal, only $1,838,258; tax rate, 1884, 16 mills per
$1. Valuation of real estate in 1885, $108,530,608; personal, $3,000,000; tax rate. 13 mills. Total valuation in 1886 about $130.000,000 :
tax rate 14 mills. Population, 156,389 in 1880; 86.076 in 1870, and in
May, 1884 ^estimated), 180,000. (V. 42, p. 23.)
1
fund and available assets March 31,
1886, Y ere $162,986. The city is protected bv mortgages on Atlantic
& St. Lawrence Railroad. Population in 1880, 33,810; 1870, 31,413;
1886 (est.), 40,000. The assessed valuations, tax rate, &e., have been:
Real
Personal Rate of Tax Total
Sinking
Years.
Estate.
Property. per $1,000.
Debt. Funds, «fee.*
188283 .. $20,288,300
$12,354,455 $21 50 $4,545,500
$51,869
18838 4 .. 20,431,300
12,598,720
20 00
4.371.000
133,846
1884- 8 5 .. 20,794,300
12,014,435
20 50
4.286.000
106,408
188586.. 21,208,000
11,759,525
21 00
4,285,500
162,986
* These do not include the sinking funds for railroad loans
P r o v id e n c e , R . I , —The principal debt of Providence has been cre
ated since ’72 for waterworks, sewerage, the City Hall and Brook Street
Improvement. The sinking fund for bonds due m 1893 is $312.922*
1895-99, $631,243; 1899-1900, $117,716; 1900-6, $371,434? Br<K)k
Street district, $5,012. Population, 1870, 68,904; 1885,118,070. The
laws of Rhode Island now limit the debts of towns to 3 nerct. of their
assessed valuation.
Assessed valuations, «fee., have been:
Real
Personal
Tax per
Toral Assets in Sink
Years.
Estate.
Property.
$1,000.
Debt.
Funds &o
1 8 8 0 .... $88,012,100 $27,908,900 $13 50 $10,202,688 $1?359,142
1 8 8 1.... 87,788,000
28,413,800
14 00 10,100,599
1,397,558
1882.
88,987,900
30,208,300
14 50 10,077,099
1,597,280
C IT Y
O ctober , 1886.]
13
SECURITIES.
Subscribers w ill confer a great favorSby g iv in g im m ediate notice o f any error discovered in these T ables
INTEREST.
Principal—When
Size or Amount
Date of
Due.
DESCRIPTION.
Where Payable, and by
When
Outstanding. Rate.
par
Bonds.
Whom.
Pay’ble
Value.
For explanations see notes on first page of tables.
St. Louis, Mo.—(Continued)—
St. Louis County bonds—County Jail...............
General purposes, gold...................................
Park bonds, eoupon, gold.............................
County bonds...................................................
81. J osepn M o.—Funding bonds..........................
Funding bonds.................................................. .
St. Paul, Minn.—Bonds.........................................
Bonds...................................................................
do ....................................................................
do ....................................................................
1868
1872
1875
1875
$1,000
1.000
1,000
1,000
1883
1,000
1882-85
1867 t o ’85 1.000
1868 to ’81 500 & C .
1862 t o ’79 Various
1860 t o ’79 Various
1,000
1886
‘ City HaU, Park'and Fire Department... . - ■- Waterworks coups, (acts Feb., 81 & Jan., 8o) 1882-4r-5 1 ,000* «
1 0 0 & c.
Various.
Salem,. Mass.—City debt......................................
1,000
1871
City debt.............................................................
North River Sewer bonds...............................
10Ö & C .
1868-9
Water loan.....................................- ...................
1,000
1878
do
.......................... - - -................
5 0 0 & c.
1858
Ban Francisco— Bonds of 1858, coupon (gold).
5
0 0 & c.
1864
Central Pacific Railroad, coupon (gold).......
5 0 0 & c.
1865
Western Pacific Railroad,
do
do .......
5
0 0 & c.
1867
Judgment bonds,
do
do .......
5 0 0 & c.
1870
School b o n d s .....................................................
5 0 0 & c.
1874
School bonds....................................................... 1872 t o ’75 5 0 0 & c.
Park improvement bonds.................................
t o ’73 5 0 0 & c.
Hospital bonds................................................... 1871
5 0 0 & c.
1874
House of Correction bonds...............................
1875
t
o ’76 5 0 0 & c.
City Hall construction.....................................
1873-74
Montgomery Ave (sp ecialtax).... ------- —
1876
Dupont St. (special) (Act March 4,1876)---100 &o.
1879
Savannah, Qa.—New compromise bonds..........
Various.
Somerville, Mass.—City d eb t..............................
Large.
Water loan.................................................-•••*
Large.
Springfield, Mass.—City notes............................
1,000
City b o n d s...................... ............................ -•
00
Water loan ($200,000 are 6 per cen ts)........
00
Railroad loan............................... - - ................. .
Toledo, O.—General fund city bonds, coup........ Various.
1870
Toledo & Woodville Railroad, coupon..............
Water works ($3,000 only 6s).....................•••• ’73,’74&79
Short bonds, chargeable on special assessm ts. Various.
1883
Bonds, payable after 1893.........................•
Worcester, i f —City, ($521,500 0., $1,521,900 r.) 1861 to '83 500 &c.
Sewer debt (all registered).....................- ......... 1870 t o ’ 85 500 &c.
Water debt, reg.................................................. . 1870 t o ’85 500 &e.
$500,000
600,000
1.900.000
500.000
880,900
902.000
71,000
906,002
433.000
399,551
307,315
175.000
1.500.000
164.500
300.000
102.000
375.000
398.500
136.500
191.000
116.000
246.000
285.000
200.000
475.000
210.000
150.000
445.500
1.579.000
919.000
3,397,500
1.250.000
335.000
64.000
93.000
1.200.000
160.000
1,236,151
432.000
1,000,000
150.000
360.000
2,043,400
640.000
706,300
Sept. 1,1888
S. N. Ÿ., Nat. B’k Commerce,
June, 1892
do
do
D.
Aprii 1,1905
do
do
O.
MÌay
1, 1895
do
do
N,
Aug. 1,1901
N. Y., Amer. Exch. Nat. Bk.
2 e1903
F. *& A. N. Y., Nat. Bk. Commerce.
6
1907 to 1913
Various N. Y. Am. Exch’ge Nat. Bk.
4
1887 to 1915
do
do
Various
5
1888 to 1906
do
do
Various
6
1886 to 1903
do
do
Various
7
1893 to 1904
do
do
Various
8
1916
do
do
4*a
1912 to 1915
do
do
4 & 5 Various
1886
to 1892
City
Treasury.
Various
4, 5 & 6
Jan. 1, 1891
J. & J. Boston, Merchants’ Bank,
6
1887
to 1903
do
do
I.
&
J.
4
Api. 1,1886-189
do
do
A. & O.
6
July
1,1904
do
do
J. & J.
5
Jan. 1, 1888
J. & J. San F.&N.Y,, Laidlaw & Co.
6
July
1,
1894
do
do
J. & J
7
May 1, 1895
do
do
M. & N,
7
Oct.
1,
1887
do
do
7 g . A. & O
June1,1890
do
do
J. & D
July
1,
1894
I g> J & J
de
do
6 g1897 & 1904
do
6 g- J. & J.
Nov. 1, 1891
do
do
6 g. M. & N.
July 1,1894
do
do
J.
&
J.
7 g.
1899
do
do
6 g.
1896
J. & J. San.F.* N.Y.,Laidlaw* Co.
Feb. 1, 1909
Q -F . N. Y., Eugene Kelly & Co.
1882 to 1896
4 , 5 , 5 ï3 ,6 Various Boston, Nat. Security Bank
1880 to 1906
do
do
Various
4, 553, 6
1886 to 1889
Salem.
Various
453
1886-1890
Boston,
First
National
B’k.
Various
6
Api.
1, ’94, to 1905
do
do
6 & 7 A. & O.
1886
to 1893
do
do
A. & O.
7
1886 to 1913]
45s to 8 Various N. Y., Imp. & Trad. N. Bk.
May,
1900
do
do
7-3 M. & N.
1893 to 18991
do
do
6 & 8 Various
1886
to
1888
do
do
7 & 8 Various
Oct., 1913
do
do
A. & O
5
1887
to
1905
’
Bk.
4, 5 & 6 Various C.Treas.&Bost. Mchts
1899 to 1905
do
do
4, 453, 5 Various
1886 to 1915
*do
do
353,4,5,6 Various
M.
7
6 g. J.
6 g. A.
M.
&
&
&
&
ii
Total
Personal Rate of Tax
Tax per
Total Assetsin Sink. Years.
Debt.
Personal
Real
Real Estate. Property, per $1,000.
$1,000.
Debt,
Funds,
&e.
$3,027,140
Property.
Years.
Estate.
1884
..................$47,000,000 $14,263,565
$16
3,815,640
$31,722,000 $14 50 $9,941,188 $1,681.400 1885
............. 50,512,212 14,291,946
19 50
1 8 8 3..
.. $90,143,400
14 50
9,890,638
1,843,785 -V alua’tion of real estate is about one-half of true value.
1 8 8 4 ..
.. 91,642,10030,854,400
14
50
9,568,188
1,438,328
31,314,600
18 8 5..
.. 92,887,400
Salem , M a ss.—The sinking funds Nov. 30, ’85, were $350,107, mostly
R i c h m o n d , V a .—In 1884, real estate 'valuation, $29,388,622; ooasistmg of City of Salem bonds. P o P ^ m n . 27.563 m 1880, 24,117
n eraona l 812 952,542. In 1885, real estate, $32,347,803; personal, in 1870. Tax valuation, 1882, $25,528,242 ; tax rate, $15 50 In 1883
$13,751,666; tax rate, $1 40. Population, 63,600 in 1880; 51,038 in 70 valuation, $25,614,115 ; tax rate, $16. In 1884 valuation, $25,360,772,
rate of tax, $17 50. In 1»85 valuation $25,066,130; tax rate, $16 50.
R o c h e s t e r .—Total funded debt, $5,249.000 March, 1885. The bonds
Sau F ran cisco.—Population. 233,959 in 1880; 149,473, in 1870. The
of Genesee Valley RR. loan, $148,000, are Providedto v by^net receipts Montgomery Avenue and Duuont Street bonds are special issues charge
from a lease of said road to Erie Railway. Population, 89,366 in 1880, able only on the assessment of property benefltted, and suits were in
62,386 in 1870; in 1882, estimated, 105,000. Assessed valuation (60 progress October, la84, to determine their legal status. The assessments
per ct. of true value), rate of tax, &c., havebeen:
for four years and tax rate (per $100) are given below. The following
Total
Tax per $1,000
valuations are made by the city and county .the valuations by the state
Real
Personal
■
Debt.
in old Wards.
being different, but the tax rate below includes that for State purposes :
Years.
Estate.
Property.
$5,354,000
27-65
1 8 8 3 ..
.. $36,166,200
$1,817,200
Tax Rate.
Realtv.
Personalty.
5.284.000
3222
1 8 8 4 ..
.. 37.270,850
1,778,100
$1 801«
82 ...............$155,834,879
$66,598,521
5.399.000 188130-98
1 8 8 5 ..
.. 38,563,020
2,389,050
1 80H
18828 3 ............... 151,894,908
50,267,099
1 69\
18838
4
..............
158,723,269
62,272,534
R o c k la n d , M e ,—Valuat’n of real and personal estate, 1885, about 1884- 8 5 ........................ 164,495,888
1 571«
59,013,672
$3,900,000; tax rate, $26 per $1,000; 1884 valuations, $3,755,831; tax 1885- 86 ....................... 171,416,426
1 -591«
56,192,922
—raie, $24 per $1,000. Population, 7,599 in 1881; 7,074 in 1870.
sinking funds raised annually amount to over $238,000, the amount
St. J osep h , M o .—Population in 1880, 32,431; in 1870,19,565. A on hand June 30,1885, being $812,108.
Savan n ah , G a.—Default was made on interest Nov. 1,1876, inoonsecompromise of the debt was made in new 4 per cent bonds, which are
given for the full principal and interest of old bonds. Aug. 31,1885, ouence of yellow fever and non-collection of taxes. The compromise
there were in addition to bonds given above $40,074 small issues and gave new 5 per cent bonds for the face of old bonds ; and for interest up
to Feb. 1,1879, 58 per cent of the face value in similar bonds; tóso,
unpaid coupons.
_ ,
The assessed valuations and tax rate for three years were as below. there are $386,500 of fives issued in exchange for Atlantic * « m i
In 1885 valuations were the same as in 1884, no new valuations being RR. bonds. Assessed value of real estate and tax rate-each year
have been as follows: In 1881, $10,500,000, $25; 1882, $10,650,000,
ma e’
Real estate.
Personal.
Tax rate. $30; 1883, $10,900,000, $30; in 1884, $12,500,000, $30; m 1885,
$13,000,000, $21 25.
Population in 1870, 28,235, against 30,709
1883
$7,586,650
$3,678,193
-O2310
1884
.....
7,873,150
3,700,222
-022i0
in 1880.
7373,150 3,700,222
-oi5s100
i l l s ; : : : : : : : : : ...................
Som erville, M a s s .-T o ta l debt, Jan. 1>1884, $1,585,000 ; sinkhig
fund, $505,852. Property valuation in 1882, $23,162,200; in 1883,
—(V. 43, p. 50.)
$23,812,900; in 18847 $24,331,100; in 1885, $2o,907,.00. Tax rate,
St. J io u ts .—Population by the United States census in 1870 was $15 40.
Except $140,000 5s in $1,000 pieces and $399,000 4s, all
310,864, against 350,518 in 1880. The city and county were merged bonds are in $2,000 to $50,000 pieces. Population 24,933 in 1880 ;
by law in 1877 and city assumed the county bonds. A claim of the 14,685 in 1870.
St. Louis Gaslight Company for gas furnished, amounting in au to
Springfield, M a ss.—Total funded debt, Jan., 1886, $1,517,000;
about $882,000, with interest to March 31, 1882, was decided against
the city in 1880, but appealed. Assessed valuation of property and tax cash assetB, $108,650. The railroad debt falls due $20,000 each year.
Population
in 1885, 38,000; 1870, 26,703. Tax valuation and rates
rate have been:
_ ._ , ,
„ ,
...
have been :
"
,
—
Real—Estate -Rate of tax per $1,000.
Tax rate
Personal
Bonded
Old
and Personal
New
per $1,000. ;
Years.
Real
Estate.
property.
Debt.
Limits.
Years.
Property.
Limits.
12 50
881
............
$23,795,920
$8,935,850
$22,614,000 1
$17 50
$5 00
1879 ................... ..$165,263,970
12 50
25,084,420
9,198,258
22.507.000 1882
17 50
1880
160,750,440
5 00
12 50
25,676,800 9.260,459
22.417.000 1883
17 50
1881 ....................... 167,336,600
5 00
14 00
1884
.................
26,201,150
8,792,666
22.311.000 1885
17 50
1882
.............. 191,720,500
5 00
12 80
.................
26,969,800
8,827,966
17 50
1883
.............. 191,522,490
5 00
—Valuation
of
real
estate
is
about
67
per
cent
of
true
value.
17 50
1884
................. 211,480,710
5 00
T o led o .—Total debt, Jan.,’ 1886, was $3,238,137. Of this the deb
17 50
1885 ' .................... 207,717,920
5 00
payable by special assessments was $166,i51 Taxable valuation ot
—(V. 40, p. 764.)
real estate, 1886, $21,773,240 ; personal, $8,157,060; total valuation.
St. P a u l* M in n .—Population in 1870 was 22,300; in 1880, 41,498 $29,930,300; tax rate, $2-80 per $100. Valuation, 1884, real estate,
in 1884 the local estimate of population is 100,000. Assessed valuations $21,375,280; personal, $8,646,190; total valuation, $30,021,470; tax
rate, $2 22. Population, 50,137 in 1880; 31,584 in 1870.
pf taxable property and tax rate have been:
Total
W o rcester. M a ss.—Total funded debt, Jan. 1,1886, $3,389,700
Personal Rate of Tax
Debt.
Cash assets Dec. 1,1885, $994,785, including $721,563 in sinking fund
per
$1,000.
Years.
Real Estate. Property.
Population,
68,383 in 1885, 58,291 in 1880,41,105 m l 870. Tax valu
$1,356,444
$13 «
............... $17,300,486 $5,491,026
1878
1,519,310 ationin 1882, $45,504,512; tax rate, 1-74. In 1883. $48,570,335
15 “
1879
............... 17,300,766 5,942.503
tax
rate,
1-72.
In 1884, $50,773,475; tax rate, 1-66. In 188d, $»¿,714,
1,959,910
21 “
1 8 8 2 ............ 30,000,000 10,000,000
2,328,040 910 ; tax rate, 1-80,
24-50“
1 8 8 3 .........
. . . . 31,000,000 12,000,000
14
HSTYESTOKS’
SUPPLEMENT.
[Voi* XLIII.
Subseriherg w i ll confer a great favor by g iv in g Im m ediate notice of an y error discovered ta the««
DESCRIPTION.
INTEREST OR DIVIDENDS.
Miles Date Size, or
Bonds—P rin ci
Amount
For explanation of column headings, &c., see notes of
Par
of
Rate per When Where Payable, and by pal, When Due»
on first page of tables.
Road. Bonds Value. Outstanding Cent. Payable
Stocks—Last
Whom.
Dividend.
A.la. N. 0. Texas A Pacific June.—1st debentures
233 1882
£100 $7,500,000
6
A. <fe O.
2d debentures............................................ •........... "
London,
April 1, 1907
£100
1884
2.500.000
6
J.
&
D.
do
Ala. Ot. Soulh’n.—1st mortgage, coupon.""'."*""**""" 296 1878 $1,000
1,1907
1.679.000
6g . T. & J. N. Y.,Farmers’ L. <feT. Co June
Debentures, g o ld ........................................
Jan. 1, 1908
£100
1886
670.000
6 g- F. & A.
Albany A Susquehanna-—S tock ............****................ 209
London.
Aug. 15,1906
$100
3.500.000
J. <fc J. N. Y., B ’k of Commerce. July 1, 1886
1st m ortgage............................................
142 Ì863
1,000
998.000
7
J. & J. N.Y.jDel. <feHud.Can.Co
Albany City loan (sinkingfund, 1 per ck yearly). 142 1865
July, 1888
1,000
1, 000,000
6
M. & N.
do
do
Consol, mort. (guar. D. <&H. endorsed on bonds)
Nov.. 1895-’97
142 1876
1,000
8.117.000
6
g
&
7
A. & O.
A llegheny Talley—Stock............................................
do
do
A
p
r ili. 1906
259
50
2.166.500
General mortgage (Riv. Div.)............... . " . * 1 ”
132 Ì866
1,000
4,000,000
’ *7*30 J. "<fe"j. N. Y., Winslow, L. <ScCo March 1,1896
Bonds to State Pa. (endorsed) 2d mort.. East ext. 110 1870 100,000
2.400.000
5
Jan’ary Harrisburg, Treasury. .100,000 y ’rly.
1st mort., East’n Exten., guar, by Pa. R R ............ 110 1871
1,000 10,000,000
7
A. & O. Philadelphia or London April 1,1910
Funding income bonds, with traffic guarantee.’.".". 259 1874 100 &c.
9,722,300
7
A.
<fe O. Pittsburg, Co.’s Office.
Amador Branch—1st mortgage..................................
Oct. 1, 1894
1,000
27 1877
675.000
6
J. & J. N. Y., Cent. Pacific RR. Jan.
Asheville A Spartanburg—1st mortgage........ ’ .*.2**
1, 1907
500.000
Ashtabula A Pittsburg—1st mortgage, coup, o r r e g " "62 1878
1,000
1.500.000
"*e"
F. <fe A. Phil., Fid. I.T. <feS.D.Co. Aug. 1, 1908
Atchison Ool. A Pacific—1st mort., guar............... ”
254 1879
1,000
4.070.000
6
Q.—F. N.Y.,Un. Pao.RR.Offlce May 1, 1905
Atchison Jewell Oo. A West.—1st M., guar. C.B.U.p".
34 1879
1,000
542.000
6
Q .-F . N.Y.,Un.Pac. RR office. May 1,
Atchison Topeka A Santa Fe—S tock .......
1,868
100 61,473,250
1905
lig
Q.—F.
Boston, at Office.
1st mortgage, gold, ($15.000 p. m .)___
15, 1386
470 1869 500 &o.
7.041.000
7 g. J. & J. Boston, North Nat. Bk. Nov.
Land grant mortgage, gold. ($7,500 p. m.)
July
1,
1870 500 «fee.
1899
2.416.500
& O.
Consol, bonds, gold, ($7,500 p. m . ) ............222
do
do
Oct. 1, 190C
I s- A.
108,500
A. <fe O.
do
do
Bonds, gold (secured by mort. bonds) $1,1852600
April 1, 1903
l’òòo 1.038.000
Ì880
I
S' A.
&
O.
S. F. bonds for purchase of K. C. L. & S. K. stock
Boston, Co.’s Office.
1,000
1880
3,555,600
5 8‘ M. <& S. Boston, Boston Nat. B’k. April 1, 1909
Sinking fund bonds (secured by mort. bds.) ..
1,000
1880
4.764.000
4!fl A. & O. Bost. Safe Dep. <&Tr. Co. Sept. 1, 1920
Sink, fund bds. (secured by deposit of mort. bds.)
Oct. 1, 1920
1,000 12,013,000
1881
6
J. & D. Boston, Co.’s Office.
Wichita <feSouthwest., 1st M .,gold'
Deo. 1,
27 1872
1,000
412.000
J. & J. Boston, North Nat. Bk. July 1, 1911
Kans. City Top. & W. 1st M., gold
66 1875
1,000
1902
l
S854.000
J. «Se J. Boston, Everett N. Bk. July 1, 1905
do
do
income bds.
1878
200.000
? g- M. «Sc S.
do
do
Pueblo & Ark. Valley, 1st M.,gold Guar.rental.
Mar.
1,
i",6b"o
148 1875
1900
1.633.000
7 g. J. «Se J. Bost., N. Bk. of N. Am’a July 1, 1905
Pueb. <fe A. V., 1st (<fc 2d onl48 m. I
134 1878
1,000
1.942.000
7 g. J. «Se J.
do
do
Kan. City Emporia & S.,lst mort.
July
1,
64 1879
1905
1,000
532.000
7
J. <fe J. Boston, North Nat. Bk. July 1, 1909
Cow. Bum.& Ft. Smith, 1st m ort.. j
92 1879
1,000
798.000
do
do
Oct. 1, 1909
„ A l a b a m a N. © . T e x a s Sc P a c if ic J u n c t i o n ( L im it e d ) .—(See
Map Otnn. N. O. A T. P.)—This is an English Co. controlling the Vicksburg bvdUffi2n^ni°fia« w ° nfcroU»6<! ’ SndJ he whole astern is virtually owned
& Meridian, 142 miles; Vicksburg Shreveport «& Pacific, 189 m iles; N. O Tjy p anH
bu* epe^ ted by Mo. Pac. Stock, $1,526.000, of which
& Nortii Eastern, 195 miles; and Spanish Fort R’y, near New Orleans, 13 u. P. and C. P. own $920,500. Rental is $254,370 per annum.
miles. It also controls the Cincinnati New Orleans & Texas Pacific Kito
C o * * W e s t .—Jamestowa, Kan., to Burr Oak,
Railway Co. (lessee of the Cincinnati Southern Railway). The manage
ment of the company is the same as that of the Alabama Great &1?acffic Stock « 2o tr«mia« f aUnplw T aPd °^nt.ri >1 as Atchison ColoradoUnion Pa0lfl° owna S105-000- RenSouthern RR. Length of roads, 862 miles; add Ala. Gt. Southern RR., 295 tal is $33,875 pur^annum?’
entire system, 1,157 miles. The preferred or “ A” shares are
£ £ pelc? £ Santa V e .-(S e e Map.)- L in e o f R o a d .—
£1,500,000, having a preference for 6 per cent dividends and cumu
K ^?s- State line, 471 miles. Owned by ownerlative, and the deferred or “ B” shares £2,500,000; par value of all ^ iu of
Kansas, 529 miles. Leased-Various branch
shares, £10 each. The first debentures are redeemable any time at 115, roads in S o’
PnS?!- ^ an^aai 2^ miles; Kan. State L. to S. Pueblo. Col“ 149
on six months’ notice. The company holds the following securities, viz.: S
mues,
Pueblo
to
Rockvale,
Col., 37 miles: La Junta to N Mat a
N .O . * Texas Pac. $1,532,000 stock; Vicksburg <& Meridian,
c.?lorado St. L. to San Marcial, N. M., 354 miles; Lamy
245,000 1st mortgage, $105,000 2d mortgage, $416,500 3d mortgage, toSflnta
to
T
e
x
l
s
,
Mareial.to
Deming, N. M.. 128 miles; Rincon
1,464,300 preferred stock and $363,000 common stock; of Vicksb
a miles; coal and mineral roads, 60 miles; Las Vegas Hot
stoevep. & Pac. $3,692,000 1st mort., $1,931,000 incomes and $1,594,M
6Xa2
^
e
to
El
Paso, 20 miles; and Deming to
000 stock; of N. O. <feNorth Eastern $4,900,000 1st mort. and $4,320,000 stock; N. O. Spanish Fort&L. RR. $300,000 1st mort. and $200,000 dirlctlv 2 3 '7^ '^ i k f 8 ^ e3; tSital teased 1,398 miles. Total operated
i
r^e«r
»?d
e
^
e
d
jointly
with the Union Pao., 103'
common stock. To obtain funds for further improvements it was
voted in Oct., 1885, that 6 per cent prior lien bonds ahead of the first miles, and that owned jointly with St. L. <fe S. F ., 45 miles, and the
mortgages should be issued on the N. O. & Northeastern, Vicksburg & operate«?^Th^tctai0 i? Ues’ controlled—are not embraced in the miles
eoatrolledis 2.821 miles. In Nov., 1885, the
Meridian and the Vioksb. Shreveport &Pac. roads at $7,000 per mile, r o ^ o f ^ n m n ^ 1
amountingto $2,695,000 in all. It was voted to issue £200,000 of Al. through m i t S a f S 1 m 1“ was> opened from San Diego, making a.
«east vm the Atlantic & Pacific RR. In
N- O .T . & P. J. 2d debenture bonds of same lien as the others. (V. 41. AJri?°1886
F v o « . C Jl o, ado & Santa Fe road was absorbed.
p. 391,,419; V. 42, p. 21, 7 2 7 .)
'
’
A la b a m a G re a t S o u t h e r n .—(See Map Oinn. N. O. A T. P.)—From MaTOh^IZA TR3 Na^PufnlS’ríS!:C■^Tíl*e«.'^«T•&S> Fe- Co- was incorporated
Wauhatchie, Tenn., to Meridian, Miss., 290 miles; leased, Wauhatchie tFuT i i 34 q? q 3’ and includes the Atchison <feTopeka RR., incorporated
?i.ant wns received by Act of Kansas Feb. 9,
to Chattanooga, 5 miles total operated, 295 miles. The Alabama &
* main fine of 471 miles was opened Deo. 23, 1372. The
Chattanooga RR. made default Jan. 1,1871, and road was sold underfore iuwol,
the main line is nominally under different corclosure J an. 22,1877. Present company organized Nov. 30,1877, and is
controlled by an English company of the same title. The lands were Pprations, of wWoh the ownership is vested in the A. T. «&S. F., and the
conveyed in full settlement to the holders of the $2,000,000 of Alabama ™^AialSrphias£d i ? tha£- Co-’ and interest on the bonds usually paid as
OI1ii'n These lands (about 550,000 acres) are held by trustees. rental. The Southern Kansas and the Sonora systems are not leased',
(V. 30, p. 117.) The debentures are made exchangeable for any mort but are controlled by ownership of the stock. The A. T. & S. Fe
gage bonds that may be created subsequent to the debentures. Capital n f' Fa8i 8,saedi t8 ownstook and bonds to purchase the stocks and bonds
stock—oommon, $7,830,000, and preferred 6 per cent, $2,987 650 2L ioa sed and. auxiliary companies, and the balance sheet shows
8<i invested; besides $3,327,917 bonds owned, against which
§?°-,SL e,aJ^ingB A A®85’ $1.076,188; net. $128,140. Gross in 1884!
T0Pe,£a Santa Fe securities have not been issued. The fiscal
$1,165,102; net, $143,665. (V. 41, p. 355; V. 42, p. 7 2 7 ).
„ .A l b a n y & S u s q u e h a n n a * —Road owned from Albany, N. Y to year ends Deo. 31. The election, of directors is held in April.
An agreement was made in Feb., 1880, with the St. L. & San Fran, for
Binghamton, N.Y., 142 miles; branches operatedDuanesburg Junction.
N. Y., to Schenectady, 14 miles; Cobleskill, N. Y., to Cherry Valiev 21 the joint construction of aline to the Pacific, under name of Atlantic «&
paomo,
and. in Aug., 1884, an agreement was made for the control of the
miles; operates Lackawanna <feSusquehanna RR., 22 miles; East Giento Coons, 10 miles; total operated, 209 miles. Leased in perpetuity Mojave Division o f the Southern Pacific and a right for traffic over the.
Soutnern
Paciflo to San Francisco, and further agreements with the St.
from Feb.. 1870, to Delaware <fc Hudson Canal Co.; rental, 7 per cent
on stock and interest on bonds. Additions and betterments charged to Loms and San Francisco. See V. 40, p. 478, and also Atlantio&Pacific
and
St.
Louis
& San Francisco in this S upplem ent .
Jgg?“ «* aod cost made part of investment. The consol, mort. is for $10.!n April,.1886, the company issued the bonds of the Southern Kansas
000,o6o, of which$3,000,000 are 7 per cents, currency; the principal of
road
to
build
350
miles and connect with the Gulf Col. & Santa Fe Cir
the 6s. is also payable in “ lawful money,’ but the interest in gold. Gross
earnings in 1884-85, $2,285,698; net, $615,087; deficit to lessee after culars in V. 42, p. 462, and V. 43, p. 431. In April, 18 8 S, the G. C. & S. F..
all payments, $336,322. (V. 40, p. 28; V. 41, p. 162,558, V. 42 p 549 ) was purchased by the Atchison Company by the exchange of G. C. &
A lle g h e n y V a lle y .—Owns from Pittsburg, to Oil City, Pa 132 S. F. stock for Atchison stock, $3,000,000 in all, of which $1,560,000miles; branches—Red Bank, Pa., to Driftwood, 110 m iles; others 17 was exchanged immediately and $3,440,000 was deposited in trust, to
i 10% ! ° ^ operated, 259 miles. The company became embarrassed be delivered to the G. C. <fc S. F. Jan. 1, 1887, in exchange for its
in 1874 and compromised with its creditors. It still falls short new stock to that amount to be issued on new mileage. See official cir
of earning interest liabilities. Of the income bonds the Pennsylvania cular, V, 42, p. 630.
Sto ck and B onds —The stock has been increased rapidly to present
RR., Northern Central and Philadelphia & Erie hold $6,087,000 the
interest on which was paid altogether in bond scrip. The coupons of figures for the acquisition of the auxiliary lines and by way of stock
guaranteed bonds held by the Pennsylvania Railroad for advances dividends. Dividends have been—in 1879,3 percent; in 1880, 8^3 • in
amount to $5,232,710. In 1885 the oharges for mortgage interest and 1881, 6 cash and 50 stock; in 1882, 6 ; in 1883, 6 ; in 1884, 6 ; in
car trust payments were $1,124,653, income bonds nil; defloitin net 1885, 6. The range in prices of stock in Boston was—in 1881, 92®
earnings, $453,519. In May, 1884, receivers were appointed at the 15414; in 18$2. 7878®9618 ; in 1883, 78®86i4; in 1884, 59ia®80; in
1885, 6334®89i2; in 1886, to Oct. 23, 79?8®96.
instance of the Penn, and other railroads as plaintiffs.
The land grant bonds receive the proceeds of land sales in payment of'
Annual report in V. 42, p. 603. Earnings for three years were as fol
lows: 1883, gross, $2,255,942; net, $886,772; 1884, gross, $2! l13 883 • Interest and principal. The 413 per cents of Oct., 1920, have the 6 par
net, $812,478; 1885, gross, $1,780,133; net, $371,134; V. 42, p.|603 ) cent mortgage bonds of the Rio Gr. Mex. <fe Pao. and the Rio Gr. & El Paso
A m a d o r B r a n c h .—Galt, CaL, to Ione, Cal., 27 miles. Leased till roads as security, the sinking fund being 119 per cent par annum, risingto Cent. Pacific; rental $3,500 per month. Stock, $675 - to 319 per cent by 1910. The 6 per cent bonds due Dec. 1,1911, have a3
Earnings in 1885, $31,243 gross and $12,705 net. Leland Stan security 1st or 2d mort. bonds of a number of the proprietary or con
trolled railroads, deposited in trust as collateral; they are redeemable at
ford, President, San Francisco.
.A * h e y ille & S p a r t a n b u r g .—From Spartanburg, S. C., to Ashe 105 by the sinking fund, which is 1 per oent per annum for 10 years and
" J
per
fc'vxmrt
cent
w
mnu"K
uTuT1O
i.ov The
per
l aeent
UUHU8, U
due
UO/\^.Uril
April
1,1909,
XlH/y,
areville, N. C., 71 miles, of which 50 miles, to Hendersonville, in operation 2
unniiT
hw thereafter.
flia
VT
,€»• Q5a ¿»C
D«.
1nl- bonds,
_ . n X,
a.. are
_
Formerly Spartanburg <feAsheville; sold in foreclosure April, 1881 and seoured by the N. Mex. «Sc 80. Pac. 1st mort. 7s, On other bonds the
reorganized. Stock $1,050,006. In 1883 the mortgage for $500 000 interest is paid as rental. Such bonds as are held in the company’s treas
ury,
or
leased
line
bonds
held
as
collateral
for
any
of
its
own
bonds
given
n«& bmM
18> “ j168 t ° Asheville; in 1885 I new mortgage
for $500,000 was authorized. Controlled by Richm’d & Danville, (fross above, are not included in the above amounts outstanding. Interest on
^
’ deficit, $4,611. Gross earnings in 1883-4 the Sonora RR. in Mex. (262 miles) 1st M. bonds is guaranteed; thosebonds are at $20,000 per mile, of which $5,000 per mile are ownedby
$34,018; deficit, $3,036. (V. 40, p. 303; V. 41, p. 75.)
°
0wils from Youngstown, O., to Ashta the A. T. <fe S. F. Co. The Leav. Top.NfcSo. RR. bonds at 4 per oent are
bula Harbor, O., 62-6 miles. Organized as Ashtabula Youngstown & guaranteed one-half by the A. T. «feS. F, and one-half by the Union Paciflo.
Pittsburg in 1870. Defaulted and property sold August 21, 1878 The Chicago Kansas <&Western stock ($10,000 per mile) is held by th e
Existing^ company organized Sept. 25,1878, and it is leased b v Penn A. T. <&S. Fe, and the firs» mortgage bonds, at $14,000 per mile, are
uaranteed by the latter company, and these, with the inoome bonds at
gOv. which pays net earnings to A. & P. The common stock is
7,000 per mile, were issued as per the circular m V. 43, p. 59.
$958,591 and preferred $700,000; par of shares, $50. Gross earnings
The Southern Kansas first mortgage and income bonds were issued as
In 188 d, $338.950; net, $95,285 ; Interest, $90,000. Gross earnings
In 1884, $387,187; net, $93,693; interest, $90,000. (V. 42, p. 462.) 8 per circular in V 42, p. 462.
L and G rant .—The lands are in Kansas, granted by Act of Congress
A tc h iso n Colorado Sc P acific.—Waterville, Kan., to Washington
3,1863, and Kansas, Feb. 9,1864. Land sales in 1885, 770,494
Kan., 20 miles; Greenleaf, Kan., to Logan, Kan., 155 miles; Logan to March
acres for $2,048,533, being an average of $2 66 per acre; assets Dae»
Lenora, Kan., 25 miles; Downs, Kan., to Ball City, Kan,, 24 miles; Yuma 31,1885, $1,676,273 contracts and 445,863 acres yet unsold.
Kan., to Warwick, 31 miles; total, 254 miles. The road forms an extenO perations , F inances , «fee.—The connection with the Atlantic <fc
alon o f the Union Pacific Central Branch, by which the bonds are guaran- Paciflo took effect for business in October, 1883, and the through
f
.R A IL R O A D
STOCKS
AND
BONDS.
«
M AP QF
O ctobee , 1886.]
A T C H IS O N ,
AND
G U L^F
SA N TA F E R. R.
0 F
M
A n d C o n n e c tio n s .
E
X
I
C
O
16
INVESTORS’
SUPPLEMENT.
LVol. X L III.
Subscribers w ill confer a great favor by g iv in g im m ediate notice o f an y error discovered In these Tables.
DESCRIPTION.
INTEREST OR DIVIDENDS.
Bonds—Princi
Miles Date Size, or
Amount Rate per
For explanation of column headings, &c., see notes of
of
par
When Where Payable, and bv pal,When Due.
Outstanding
on first page of tables.
Slocks—Last
Road. Bonds Value.
Cent. Pay’ble
Whom.
Dividend.
Atch. Top. <t S.Fe—( Continued.)—
Marion & McPherson, 1st mort.........) G’rantee C
93 1879 $1,000
$713,000
A. & O
Florence El Dor. & W., 1st M., gold .. 5 rental. )
I e ' A. & O Boston, North Nat. Bk. Oct. 1, 1 909
26 1877
1,000
310,000
Boston, Nat. B.N.Amer. Aug. 1, 1907
Leavenworth Topekar& S. W.—1st mort., ** guar.
46 1882
1,000
690,000
l g- J. & J. Boston,
Am.L’n& Tr.Co. July 1, 1911
N. Mexico & So. Pac.—1st M., gold, guar, rental.! 372 1878
1,000
4,425,000
A. & O. Boston, Everett Nat.Bk. A p rili, 1909
Sonora. 1st mort., gold, interest guaranteed........
I
e
'
262 1880
1,000
4,050,000
J. & J. Boston, Nat.Revere Bk, Jan. 1, 1910
Chic. Kan. & West., 1st mort., gold, guar............ . 450 1886 100 &o.
I eg.'
5,600,000
5
Boston.
1926.
do
income bonds, non-cumulat..
1886 100 &C.
2,800,000
6
Southern Kansas—K.C. Law. & So., 1st mortgage. 175 1879 500 &c.
2,940,000
6
A. & O. Boston, Nat. Union Bk. Apr. 1, 1909
Southern Kansas & Western—1st mortgage....... 149 1880
1,000
1,688,000
7
J. & J.
do
do
Jan. 1, 1910
Sumner County RR.—1st m ortgage..................!
18 1880
1,000
221,000
7
M. & S.
do
do
Ottawa & Burlington RR.—1st mortg.................
Sept. 1, 1910
42 1880
1.000
500,000
6
A.
&
O.
do
do
April 1, 1909
S. Kansas—1st mort., gold, $16,000 per mile.......
1,000
1886
5,600,000
do
do
1926
Income bonds (not cumulative) $4,000 per mile)
250
1886
1,400,000
l g’
do
do
Atlanta & Charlotte—Stock (guar. 5 p. ct. by rental) 269
1926
100
1,700,000
2** M. & S. N.Y. Central Trust Co. Sept. 6,
New pref. mort.
1886
2651* 1877
1,000
500,000
7
A. & O.
do
do
Mortgage bonds
________ _______ 265** 1877
April 1,1897
1,000
4,250,000
7
J.
S
r
,
J.
do
do
Income Donds, registered (not cum u lative)..!..!!
Jan.
1,
1907
500
1880
750,000
6
A. & O.
do
do
Atlanta <& West Point—Stock
April 1,1900.
80 . . . .
100
1,232,200
3
J. & J. Atlanta, Ga., atTreas^. July
Debenture certificates___ ____________
15,
1886
1881
1,232,200
6
J. & J.
do
do
a Atlantic
jMU'ftviG vc
ixvrui vwruivnu—
jlbg hi
dkNorth
Carolina—1st
mortgage
1891
95 1868
500
196,000
8
Company's Office.
y Atlantic d P ac.—1st mort. g.,W. D.(s.f.) $25,000 p.m. 560 1880 l,000&c 16,000,000
1888
J.
’&
\
t
.
N. Y., U. S. Trust Co
I Income bds., non-cum’tive, W. D. ($18,750 p. m.). 560 1880
July
1, 1910
50 &c. 12,000,000
6 g- A. & O.
1st RR. & land gr. bonds on Cent. & Mo.Divisions
Oct. 1, 1910
1871 500 &o.
1,189,905
6
M. & N.
New York,
I 1st land grant bonds on Central Division........
Nov.
1,
1891
102
....
796,629
6
At Mat.
do
1 New 1st mort., road and lands, Central D i v ...... 102 Ì882 l,000&e
Nov., 1901
600,000
6
M. & S.
do
\ New income bopds, Central Division, non-cum
March
1,1922
102 1882
50 &c.
450,000
6
J. & D.
• Arizona Mineral Belt—1st M., gold ($20,000 p.m,)
June 1, 1922
75 1886
1,000
J. & J.
Boston.
Atlantic <6 St. Lawrence—Stock ($5,459,036 stg.).. 151
*100
5,484,000
i
g*
M.
& S. London, Gr. Trunk Rw. Sept. 1916
1st mort, to City of Portland (sinking fu n d )....... ! . . . .
15, 1886
....
787,000
6
M. & N.
2d mort. (owned by Grand Trunk).......................
Nov. 2, 1888
....
....
1,499,916
6 g - A. & O. London, Gr. Trunk Rw Oct. 1, 1884
3d mortgage, sterlmg, 5-20 years........................... i s o 1871
*100
712,932
6 g. M.& N.
do
do
Augusta <£ Savannah—Stock......................................
May 1, 1891
53
100
733,700
31* J. & D.
Savannah.
June, 1886
line to San Francisco by use of the Southern Pacific lines Oct. 1, 1884
In Nov., 1885, the Cal. Southern was completed, giving a through route ®n debt and 5 per cent on stock; if gross earninsrs of A & o A t
i o ^ n f i l H 0’000’ ^ id e n d s to be 6 per c e n tV a n d if they exceed
to the Pacific coast by the Atlantic & Pacific road.
7 Per cent- Gross earnings in 1882-83, $1 074 016- net
•The report for 1885 in the Ch ronicle , V. 42, p. 489, said: “ Had the
? 9n7,’ U i i 1reiltal’I L 66-500: loss to R .& D . $69,325 In 1883-84 gross'
same average rates been received in 1885 as in 1884, the freight earn- l$1,042,631;
net, $338,731; loss to R. & D., $127,769.
gross,
d nave t>een increased $565,210 and the passenger earnings
$82,499. The reduction of the average rates the last two years has pA tla n ta & W e s t P o lu t.—Owns from East Point, Ga., to West
been caused partly by the increased tonnage of lower class freight, but Anrt&iaai 80 miles; leased, 6J* miles; total operated, 36** miles. In
principally by an actual reduction of the rates obtained.
1881, a controlling interest in the stock was purchased for the, L P 1®laF&? immigration into the State of Kansas during the spring of Central Georgia, and a stock dividend of 100 per cent was afterward
1885 tended to lessen the unfavorable results of the general business
doboiit^ircjcertificates. Gross earn’sin 1884-85,$410,222; net,
depression which were at length beginning to be felt in that State; and $173,079; m 1885-86, gross, $397,259; net, $138,001.
^
had it not been for the failure of the winter wheat crop, from the transportation of wlricli we liave hitherto derived a large revenue, the earn* N orth C aro lin a.—Owns from Morehead City to Golds
ings for 1885 would have equaled, if not exceeded, those for the
preceding
notwithstanding
the reduction in the average rates »
__________________________a
*
«
»
»
*
»
, ?
■
m year,_________
._...
_
..
. .. . P . .
filling up of Kansas with new settlers
augurs well for the future prosperity of the State and for the business
of your company. The large corn crop affected the earnings only
indirectly, as the yearly increased use of corn in Kansas for feeding
purposes tends to diminish the transportation of that article. On the
other hand, the shipments of live stock considerably increased; and the
better profi; thereby obtained by the farmers tends to increase the
general prosperity of the State, and to that extent favorably affects the
business of your road."
montlls ^ m Jan. 1, to Aug. 31,1886, gross earnings were
H i t s 590 again8t $9>652>951 in 1885; net, $4,308,8207against
% ir?o1F€a and operations for three years, and mcome account for 1884
and 1885, were as follows, these statistics embracing the Atchison
Jopeka&Santa Fe and Southern Kansas systems combined, but nothing
oi the Sonora, Atlantic & Pacific, or roads owned jointly, although the
interest on Sonora bonds is deducted from Atchison earnings.
OPERATIONS AND FISCAL RESULTS.
_ . - ..
■ 3
1883.
1884.
1885.
Total miles operated.................
2,219
2 374
2,397
Operations—
Passengers carried. No............... 1,072,169
1,502,485
1,849,577
Passengers carried one mile. ...120,411,659 135,412,096 149,999,427
Rate per passenger per mile___ 2-909 cts.
2-648 ots
2-593 cts.
Freight (tons) moved................. 2,240,430
2,725,191
2,602,056
Freight (tons) carried one mile.582,176,176 634,711,316 607,753,550
Rate per ton per mile................
2-009 ots.
1*882 cts.
1-789 cts.
jEarnings—
$
$
$
Passenger..................................... 3,502,950
3,583,018
3,889,411
i^eigbt.......................................... 11,699,194
11,946,453
10,873,621
Mail, express, &o.........................
707,297
762,412
808,363
Total gross earnings........ 15,909,441
16291,883 15,571.395
Operating expenses—
Maintenance of way, &c............ 2,216,574
2,861,236
2,280,291
Maintenance of equipment___ 1,124,949
1,461,896
1,409,732
Transportation expenses___. . . .
3,227,352
3,560,610
3,777,357
Miscellaneous.............................
673,722
670,856
388,393
T a xes...........................................
410,319
421,378
459.194
■ * ------- 7,652,916
„ 1 Total operating
, , -------„ expenses
8,975,976
8,314,967
Net earnings................................ 8,256,525
7,315,907
7,256,428
P. c. of op. expns. to earns........
48-10
55-09
53-40
INCOME ACCOUNT.
Receipts—
1884.
1885.
Net earnings .................................................... $7^ 16907
$7,256,428
Rentals, dividends, &c.............................
28,488
28,012
Other receipts..... ...............................................
142,014
149,743
From land grant trusts.....................................
183/281
180,188
Total income............................................ $7,674,690
$7,614,371
Disbursements—
Rentals paid..................
$37,093
$25,500
Int. on At. T& S. F. and So. Kan'. bds!!!!!!!
1,812,544
1,980,664
Interest paid as ren ta l............. ................ .
866,655
854,930
Interest on land b o n d s ..............................!
188,281
180,188
Interest on Sonora bonds................
283,500
D i v i d e n d s ............. .................................
3,414,736
3,414,786
Rate of dividend......................................
6
6
Sinkingfunds...............................269 716
299,525
Paid to other roads
................. . . . " .............
241*677
46,093
Miscellaneous.................................
.
■ '•
25,000
gress July 27,1866. The Western division is from Isleta, near Albuauerque, on At. Top. & Santa Fe, to Big Colorado River, 560 miles, where It
meets the line to Mojave, Cal. (242 miles), leased by this Co. in 1884
from the Southern Pacific of Cal. The A. & P. to Colorado River wasopened for traffic Oct., 1883; in Nov., 18 45, the Cal. Southern was
completed, giving a through route to San Diego on the Pacific coast.
Also the Central Division is finished from Seneca, Mo., to Sapulpha in
the Indian Ter., 112 miles, and projected westward to a junction with
the Western Division. The Central Division is at present operated by
the St. Louis & San Francisco Railway Co.
1
J
o By the ‘‘ tripartite” agreement of Jan. 31, 1880, the Atch. Topeka &
S. F. and the St. Louis & S. F. guaranteed 25 per cent of the gross earn
ings over their lines on business to and from the West. Div7, provided
its own earnings were insufficient to pay coupons, and the large advances
so made constitute a loan to be repaid by the A. & P. with interest
In October, 1886, it was reported that the holders of first mortgage bond»
would be requested to reduce their interest to 4 p. c., and received guar
anty of the bonds, one-half from each of the two protecting companies
Stock authorized is $100,000,000, and issued $54,810,300 (par $100)
of which $41,302,600 is owned Dy the At. T. & S. F. and the St. Louis &
S. F. companies equally, and deposited in trust tor thirty years The
stock is classed thus: Western Div., com. stock, $34,750,000; Cent and
Mo. divs., com. stock, $3,660,300, pref., $11,400,000. The old pref
stock has no preference over the A. & P. West. Div. stock. Of the first
mort. bonds outstanding, about $2,000,000 have been issued in advance
of construction.
The Southern Pacific sold the 242 miles of road from Mojave toTheNeedles, on the Colorado River, to the A. & P. Company for $7,271 100, payable in A. & P. 1st mortgage bonds, at par, issued on said 242
miles, but “ should the bonds or their proceeds be less than the purohase
PF*®®
difference is payable in money.” (This difference incashwas>
Sr'Sr1', 50Sh°ve the par value of bonds issued to the South’n Pacific.)
Until clear title to tins piece of roid is given, tlie A. & P. takes possession and pays 6 per cent per annum on the $7,271,000. The same
negotiation gave a right by contraot to run through trains to San Fran
cisco over the Southern and Central Pacific lines on payment of rental
either on a mileage basis or at 3 per cent per annum on $40,000 per mile.
See Y. 39, p. 208; V. 40, p. 50.
The land grant claimed under the old Atlantic & Pacific charter
of July, 1866, is 25,600 acres per mile in Territories and 12,800
acres in States. The total land grant on the whole road, if con
structed as under the charter, would be 42,000,000 acres; on the
West. Division upwards of 14,000,000 acres in New Mexico and Arizona
have been earned by construction, and in the Indian Territory 2,600,000
acres more, the best of these lands being well adapted for grazing. The
proceeds of sales of the company’s lands have so far been applied to pay
ment of interest on A. & P. bonds or the lands have been convevea in
trust to the Atchison and San Francisco companies, and about 6,000,000
acres have been so disposed of. See Chro nicle , Y. 40, p. 49. The
first mortgage bonds may be drawn and paid off at 110 with proceeds of
land sales. They are receivable at par in payment for lands. A map of
the land grant was published in the Ch ronicle , V. 36, p. 468.
No annual report for 1885 has been published, but the earnings and ex
penses of 1885 were given in V. 43, p. 216.
. G . CVNutt> President, Boston. The following directors were elected
May, 1886: Henry C. Nutt, W. B. Strong, L T. Burr, B. P. Cheney,
A. W. Nickerson, Walter L. Frost, Geo. O. Shattuck, L. C. Wade, of
Boston: JesseSeligman, C. P. Huntington, EdwinF. Winslow, Bryoe
Gray, Wm. F. Buckley, of New York. (V. 41, p. 2 2 ,4 9 , 189, 652, 6881
V. 42, p. 338, 393, 462, 487, 630; V. 43,p. 48, 2 1 6 , 458.)
A tla n tic Ac St. L a w ren ce,—Owns from Portland, Me., to Island
Pond’ Vt. (and branch), 151 miles, there connecting with Grand Trunk
of Canada, to which leased for 999 years, August 5,1853, at a rental
equal to bond interest and 6 per cent on stock. The bonds to city o f
Portland are provided for by accumulations of sinking fund.
The Grand Trunk RR. owns the 2d and 3d mortgage bonds, and has
issued its owndebentures against them. The A. & St. L. must issue new
bonds or stock to the Grana Trunk on surrender of the 2d mort. bonds,
»¿ossearnlngs m 1883-84, $1,067,432; net, $175,411. Gross in 1884-85,
$7,110186
_ Total disbursements....... ................ j ......... $6,830,707
Balance, surplus................................................
$843,983
*504 1« ?
- ( V . 40, p. 240, 268, 321, 330, 362, 393,437, 467, 4 7 8 , 479 508 553
684; V. 41, p. 22, 160,162, 272, 306, 444, 446, 526, 528?584? 652,745•
y . 42, p. 59, 60, 61, 303. 305, 364, 430, 447, 462, 474, 4 8 5 , 487 48<»’
518, 574, 630, 663, 694, 754; V. 43, p. 1 0 2 ,125,152,162 244. 274
333,431,451.)
’
A tla n ta Ac C harlotte A ir L in e .—Owns from Charlotte, N. C to
Atlanta, Ga., 269 miles. The Richmond & Atlanta Air-Line was sold
under foreclosure Dec. 5,1876, and the existing corporation was formed
A u g u sta dc Savan n ah .—Owns from Milieu to Augusta, Ga., 53
Feb. 27,1877. On March 26, 1881, tne road was leased to the Rich miles. Leased to Central of Georgia for $73,000 per annum. Has n o
mond & Danville at a rental of $462,000 per year, equal to the interest bonded debt.
O c t o b e r , 1886. J
R AILR O AD
STOCKS
AND
17
BONDS.
Subscribers w ill confer a great favor by g iv in g im m ediate notice o f any error discovered in these Tables.
Bonds—Prinoi.
INTEREST OR DIVIDENDS.
DESCRIPTION.
pal,When Due
Miles Date Size, or
Amount
Stocks—Last
Where
Payable,
and
by
When
Rate
per
Par
of
For explanation of column headings, &c., see notes of
Outstanding ! Cent. Payable
Dividend.
Whom.
Road. Bonds Value.
on first page of tables.
Bald Eagle Talley—Gen’l mort.,(8. f. $4,000 per yr.i
80
1,650
Loan due in 1880, extended....... ............................
....
do 1870 .sterling, £800,000, sink, fu n d ..........
Baltimore loan, 1855-’ 90, sink, fu n d ............... .
Purchase of Connellsv. RR (payable $40,000y ’ly)
Loan,ster.,(s.f. £7,500) (B.O. & Ch.bds collat’l). . . . .
Bonds (Parkersburg Branch bonds collateral)—
Sterling mortgage on Philadelphia Branch..........
Bonds, gold (Pittsb. & Connellsville b’ds collatT).
Mort. on Schuylkill R. East Side RR., gold (guar.)
Baltimore <£Potomac—1st M (tunnel) gold, s. f. 1 p. c.
1st mort., road, gold, coupon, s. f. 1 per c e n t.......
Belleville <£El Dorado—lst(int. guar. St.L.A.&T.H.)
Belleville & South. Hl.—la t M. (int. & s.f. guar.).......
Belvidere Del.—1st mort. clue 1877, extended, guar.
Bennington <£Rutland—1st mortgage.......................
1880
1853
1870
1855
4 l i 1872
421 1874
1875
263 1877
104 1879
1878
1883
iso. 1885
1885
'1*2 1871
90 1871
92 1875
82 1886
52 1880
52 1880
56 1866
64
64
67
67
12
59
1873
1875
1883
1877
1857
1876
1885
1876
1877
$1,000
100
100
¿1 0 0
£200
£200
1,000
£200
1,000
1,000
1,000
1,000
1,000
....
1,000
1,000
500
1,000
1,000
1,000
1,000
B a l d E a g le V a lle y .—Owns from Vail Station, Pa., to Lockhaven!
Pa., 51 miles; branch, Milesburg, Pa., to Bellefonte, Pa., 2 1a miles’
Snowshoe to Sugar Camp, 26*3 miles; total operated. 80 miles. Opened
December 7,1864, and leased to Pennsylvania Railroad Company for 99
years. The branch is the property of the lessors. Rental, 40 per cent
o f gross earnings. Gross earnings m $1885, $463,156; net, $231,719. In
Feb., 1885, 5 per cent paid. Stock is $935,000 (par $50), and divi
dends are paid according to earnings.
B a ltim o re & O h io—(See Map).—L ine of R oad —The B.<& O. system
embraces roads in Md., Va.. Penn., Ohio, Ind. and 111., which are clearly
shown in the accompanying map. By means of the Marietta <&Cin
cinnati, via Parkersburg, the road has a direct route to Cincinnati.
The B. & O. mileage is : Main stem, Baltimore to Wheeling, 379 miles,
and branches. 272 miles, total, 651 miles; Washington Branch, Relay to.
Washington. 3 L miles; Parkersburg branch, Grafton to Parkersburg,
104 miles; Central Ohio division, Bellaire to Columbus, 137 miles; Lake
Erie division, Newark to Sandusky, 116 miles; Chicago division, Chicago
Junction to Chicago, 271 miles; Pittsburg division, Cumberland to
Pittsburg, 150 miles, and branches, 94 miles, total, 244 miles; Wheeling
& Pittsburg division, Glenwood to Wheeling, 66 miles; Straitsville divi
sion, Newark to Shawnee, 43 miles; total operated Sept. 30,1885,1,663
miles. The Baltimore & Ohio Philadelpnia branch, connecting with the
Balt. <fePhila. RR., makes a line from Balt, to Phila., and thence via the
Schuylkill Val. & East Side RR. to a connection with the Phila. <feRead,
lines to Bound Brook, N.J. Thence the proposed route to Staten Island,
as noted in Chronicle , V. 41, p. 611.
O rgan ization , L eases , &c.—The corporation was chartered in Mary
land Feb. 28,1827, and in Virginia March 8,1827. First section opened
May 24, 1830. The company was assisted by loans from the City of
Baltimore. The relations with the auxiliary branches and leased roads
are complex, but the B. & O. virtually owns nearly all of these east of
the Ohio River, and the total charges for rentals and guarantees are
moderate. In 1884 the stocks and Ponds of allied companies held were
$21,786,000 (of which $7,711,000 were held by trustees). The company
has been exceptional in not increasing its own stock or bonds for new
properties acquired, and had a surplus to credit of income account
Sept. 30,1885, of $47,814,615. Fiscal year ends Sept. 30.
Stocks and B onds—The pref. stock carries 6 per cent dividends on ly
The common stock has paid—in 1877, 8 per cent; in 1878, 8 in stock; in
1879, 4 stock and 4 cash; 1880, 9; 1881,10; 1882, 10; 1883,10 ; 1884,
iO; 1885,10. The range in prices of common stock in Baltimore in
1881 was 183®210; in 1882,190®202; in 1883,192!a®205; in 1884,
167®199; in 1885, 166*2® 185 ; m 1886,to Oct. 23, 150® 191.
The Baltimore & Ohio direct bonds of 1879 on Parkersburg
Branch are secured by deposit of mortgage on that road. The sterling
mortgage of 1883 is made to William F. Burns, John Gregg and T. Har
rison Garrett, trustees, and secured also by pledge of £1,000,000 1st
mort. bonds of the Balt. <& Phila. RR. (Md. State line to Phila.) The
bonds of 1877, due 1927, are secured by the mortgage bonds of the B.
O. <fe Chic, roads deposited as collateral. The B. & O. bonds of 1885 are
secured by $10,000,000 2d consol, bonds of Pittsburg & Connellsville
RR., deposited with Union Trust Co. of N. Y. as trustee. The bonds of
the Schuylkill Val. & East Side RR. ($4,500,000) are to be guaranteed
by B. & 0., as that road forms part of the route Phila. to N. Y.
Operations , F inances , «fee.—The fiscal year ends with Sept. 30, and
for 1884-85 an abstract of the report was given in the Ch ronicle , Vol.
41, p. 583. The full report in pamphlet form, with income account and
balance sheet, is not issued till some months after the close of fiscal year.
The income account for the year ending Sept. 30,1885, was :
Net earnings from transportation...............................................$3,969,900
Receipts from other sources—
Dividend of 10 p. c. for year on Wash. Br. stock... $102,800
House rents received during fiscal year....................
10,989
Increment from sinking fund, W. C. & P. L. R R .. . .
5,430— 119,219
Available revenue.................................................................. $4,089,119
Dividends 10 per cent.............................................. $1,478,425
Interest and taxes.................................$3,650,479
Less cash rec’pts & net eam’gs of B. &
O.&C.RR.and L.Erie and C.O.divs... 1,560,761- -2,089,718
33,415
Ground rents..........................................
$27,000
Rental of Winchester & Potomac RR.
Do
Winchester & Strasburg RR
5,229
89,250
Do
Strasburg & Harrisonb.RR.
157,479
36,000
Do
W.Clty&Pt. Lookout R R ..
64,631
Straitsville D ivision,loss............. . . . .
rrx
OAO
Central Ohio Division, loss..................
79,431-3,978,301
Lake Erie Division, loss..................... .
............
Balance, credited to profit and loss............. ....................... $110,818
The abstract of the last annual report given in the Ch ronicle , Vol.
41, p. 583, contains the following remarks;
“ It is t-hown by the report of the General Manager that the tonnage of
through merchandise east and west has been 2,338,147 tons, whilst in
the preceding year it was 2,275252, tons. 766,163 barrels of flour and
13,048.258 bushels of grain were brought to Baltimore during the fiscal
year, being an increase of 48,905 barrels of flour and an increase of
1,495,206 bushels of grain as compared with the preceding year.”
The tonnage of through merchandise East and West was as follows in
each o f the past ten years : 1874, 752,256; 1875, 872,101; 1876,1,09 3,
$380,000
14,792,566
5,000,000
577,000
1,710,000
1,906,839
2,575,000
7,179,612
8,290,096
600,000
7,381,968
3,000,000
366,000
11,616,000
10,000,000
(U
1,500,000
3,000,000
2,000,000
5,000,000
220,000
330,000
1,041,000
550,000
250,000
100,000
200,000
1,000,000
745,000
1,200,000
500,000
250,000
475,000
6
4
3
4
4
6
6
6
6
6
5
6
6
4*2
5
5
6
6
6
4
7
6
8
5
7
6
6
6
6
7
4
6
7
g.
e.
g.
g-
J. & J.
M. & N.
J. <& J.
J. & J.
A. «fe O.
M. <fc 8.
J. «fe J.
M. «fe S.
M. «fe N.
J. «fe J.
J. «fe D.
A. <fe O.
J. «fe J.
A. <fe O.
F. <& A.
Pbila. .F.Ins.Tr. &S. Dep.
Baltimore, Office,
do
do
do
do
do
do
Lond’n,BaringBros <feCo
Baltimore, Office.
London,J.S.MorgamfeCo
London. I.S.Morgan&Co
Baltimore, Office.
Lond., Baring Bros.&Co.
Balt. & N.Y., D. M & Co.
Baltimore, Office.
London, Brown, S. <feCo.
New York Agency.
g.
g.
....
g.
g. 3. «fe J. London or Baltimore.
Baltimore,
g. A. <fe O.
do
J. «fe J.
Jan. 1. 1910
Nov. 1, 1886
July, 1886
At will.
Oct. 1, 1936
Mar. 1, 1895
1890
Mch. 1, 1902
May, 1910
1886-1900
June 1, 1921
Aprii 1,1919
July 1, 1888
Aprii 1,1933
Feb. 1, 1925
Dee. 1, 1925
July 1, 1911
Aprii 1, 1911
Jan. 1, 1915
....
J. «fe J. N. Y. St. L. A.<&T. H. RR. July, 1, 1910
Aug. 1, 1920
do
do
F. <fe A.
A. <& O. N.Y. St. L.A. &T. H. RR. Oct. 1, 1896
Dec. 31,1885
....
J. «fe J. Phil., Cassatt,Town.&Co July 1, 1893
Aug. 1, 1905
do
F. «fe A.
A p r ili, 1911
....
1902
J. «fe D. Philadelphia, Pa. RR.
1887
do
do
F. <& A.
J. «fe J. Treasurer. Trenton,N. J. Jan. 1, 191
Sept., 192?
M. «fe S. Philadelphia, Pa., RR.
J «fe J. Treasurer, Trenton,N.J, Jan. 1, 19
M. «fe N. N.Y., Union Trust Co. Nov. 1, 189
393; 1877,1,047,645; 1878; 1,149,499; 1879,1,425 629; 1880,1,980,
397; 1881,2,014,110; 1882,2,043,227; 1S83, 2,108,325; in 1883-4,
2,275,252; in 1885, 2,338,147 tons. .
*^ t
_ ....
The gross and net earnings of the main stem and its branches and of the
other divisions for the last fiscal year, as compared with 1882-83, were;
,—Earnings, 1883-84.—. /—Earnings, 1884-85.
Gross.
Net.
Gross.
Net.
Main stem, etc............. $11,506,958 $5,237,742 $9,733,252 $3,969,900
194,771
315,308
Washington Branch...
335,944
180,331
48,848
547,757
Parkersburg Branch...
643,164
141,753
295,856
1,060,166
Central Ohio Division.
1,169,773 376,638
119,918
817,785
Lake Erie Division ..
1,016,508 261,700
261,605
1,724,612
Chicago Division.........
2,046,880
488,988
773,419
1,999,960
2,294,827 1,043,132
Pittsburg Division.......
Wheeling Pitts. <fe Balt.
141,896
13,621) 299,372
7,840
Pittsburg Southern___
112,125
16,668J
118,430 def. 29,102
New’kSomerset & St’le
168,532
757
Totals..................... $19,436,607 $7,760,300 $16,616,642 $5,643,057
The working expenses of the whole system were 66-03 per cent of gross
revenue in 1884-5, against 60-07 per cent the preceding year. Results
on all lines in five years have b een :
Net Earnings.
Years.
Gross Earnings.
Operating Expenses.
$7,073.398
1880-81............$18,463,877
$11,390,479=61-69 p. C.
7,454,662
10,929,213=59-44 “
18,383,875
188182... --------------8,705,823
11,034,014=55-89
“
188283... 19,739,837
7,760,300
11,676,307=60 07 “
188384... 19,436,607
5,643,057
„1884„ „ ■85............
■ ............ 16,616,642
_______
10,973,585=66 03 “
—(V. 40, p. 181,453. 541, 763; V. 41, p. 306, 555, 573, 5 8 3 , 611, 653 ;
V. 42, p. 92, 271,630; V. 43, p. 190, 244, 387, 458.)
B altim ore & P o to m a c .—Owns from Baltimore. Md., to South
End Long Bridge, Va., 43 miles; and from Bowie to Pope’s Creek, 49
miles : total, 92 miles—including tunnel in City of Baltimore. The road
is controlled by the Pennsylvania Railroad Co., and first mortgage bonds
guaranteed by Pennsylvania and Northern Central. Capital stock,
$3,553,250. In 1884 gross earnings, $1,224,572; profit. $58,527. In
1885, gross earnings, $1,323,091; net, $554,540; interest charge, $297,181. Income bonds wholly held by Penn. RR. Co. Gross earnings from
Jan. 1 to Aug. 31, 1886, $856,566, against $862,200; net, $332,487^
against $329,611.
B e e c h C r e e k .—Jersey Shore, Pa., to Ansonville Junction, Pa., 67
miles; branches to Phillipsburg, to mines, &c., 15 miles; total, 82 miles.
This is successor to the company in which, under the name of Beech
Creek Clearfield <&S. W., the Messrs. Vanderbilt and others were inter
ested. This company was formed on reorganization in 1886 with the’
above mortgage bonds and $1,300,000 of preferred stock and $3,700,000 common. V. 43, p. 308. There is no funded debt out, but $1,300,000 of bills payable, secured by pledge of $4,500.000 bonds. An as
sessment of stock and a reorganization is proposed, as in V. 41, p. 720.
—(V.41, p. 103, 355, 556, 653, 720; V. 42, p. 631, 727; V* 43, p. 308.)
B elleville & E l D orad o.—An extension of Belleville <fe So. Illinois,
from Du Quoin to El Dorado, 52 miles, and leased to St. L. Alton & Terre
Haute. Rental 30 per cent of gross earnings up to $2,500 per mile, and
15 per cent on all above that amount. Rental received for 1883,
$15,678; for 1884, $15,171; for 1885, $15,463. Stock, $1,000,000.
B ellev ille & Southern Illin o is .—Owns from Belleville, m ., to
Duquoin, 111., 56 miles. Itwas leased Oct. 1,1866, to the St. Louis Alton <&
Terre Haute Railroad Co. Lease rental 40 per cent of gross earnings
up to $7,000 per mile (except on coal, <fec.), 30 per cent above $7,000 ana
up to $14,000per mile, and 20 per cent on any excess of $14,000 per mile.
Rental for 1883, $167,719; for 1884, $158,799; for 1885, $157,917. In
terest on bonds, and sinking fund $5,000 per year, guaranteed by lessees.
Common stock, $430,000; pref. 8 per cent stock, $1,275,000, non-oumulative. Dividends on preferred stock past four years liave been 5 in»
1885; 5*2 in 1884; 614in 1883; 5*2 in 1882; 4*2 in 1881.
B ells G ap.—Bellwood, Pa., to Irvona, Pa., 25 miles. Gross earnings
in 1884-5, $146,036; net, $78,830; interest paid, $34,479; dividends,
$16,500; surplus, $27,851. Of the consol, mortgage $350,000 is re
served to retire prior issues. Stock was increased in 1883 to $550,000. Chas. F. Berwind, Pres., Philadelphia.
B elvldere D e la w a r e .—Owns from Trenton, N. J., to Manunka
Chunk, N. J., 67 miles; Millham Cut-off, 1 mile, Flemington RR., 12
miles; total operated, 80 miles. Leased to United Companies, and trans
ferred to Pennsylvania RR. March 7,1876, by which operated as their
Belvidere Division, and net earnings paid over as rental. In Feb., 1885,
the Flemington RR. Co. was merged in this. The 1st mort. and new
4 p.e.bonds are guaranteed by the United Companies. In 1885 ^et earn
ings were $467,670 and interest payments $269,718. In 1884, nec,
$529,409; int., $263,543. Capital stock, $1,150,000; par of shares, $50.
- ( V . 41, p. 215.)
B en n in gton Jk B u tla n d .—Owns from Rutland to Bennington,
Vt., 57 miles; branch, No. Bennington to New .York■State Line, 2 mnes,
total, 59 miles. Chartered as West. Vermont m 1845,^ c o n s o lid a t e d
in Harlem Extension in 1870. Since Sept. 10, 1
^ Rhlinfc
(as above) operated by the reorganized Bennmgton & Rutland. g ptook
$1,000,000 authorized (par $50), and $502,000 issued. In 1884-5 grossearnings $198,821; def. $12,053.,
INVESTORS’
SUPPLEMENT.
O c t o b er , 1886. J
R a ILROAT)
stocks
and
bonds.
19
Subscribers w ill confer a great favor by giv in g im m ediate notice of any error discovered in these T ables
Bonds —Princi
INTEREST OR DIVIDENDS.
DESCRIPTION.
pal, When Due.
Miles Date Size, or
Amount
Stocks—Last
Where
Payable,
and
by
When
Par Outstanding Rate per
of
For explanation of column headings, «fee., see notes of
Dividend.
Whom.
Cent. Payable
Road. Bonds Value.
on first page of tables.
8tookbridge, Treasurer. July 1. 1886
Q.-O.
$600,000
1%
22
$100
Berkshire—Stock.......................................................... !
Sept. 30,1886
Boston, Office,
2
Q .-J .
100 20 , 000,000
Boston dt A lbany-Stock................ - - ........................... 374
Feb. 1, 1892
do
F. <fe A.
5.000.
000 7
1,000
1872
Plain bonds, coupon or registered..........................
July 1. 1895
do
J. <fe J.
2.000.
000 6
1,000
1875
Loan of 1875, coup, o rreg ........ . ...........................
April
1, 1902
do
A.
«fe
O.
5
3.858.000
1882
Bonds issued to State for its stock........................
May
10, 1886
Boston, Office.
21« M. <&N.
800,000
'ib'o
Boston Concord dt Montreal—Old pref. stock, guar.. 186
1,000,000
100
Com. and new pf. stock (new pf. stock is $540,400) 186
1889
Boston, Office.
J. <& J.
‘ 6*
202,000
1858 100 *0.
Sinking fund bonds ($ 6 2 4 ,0 0 0 )..........-.-------1893
do
do
6 & 7 A. «fe O.
1,947,400
160 1873 200 &C.
Consolidated mortgage bonds (for $2,000,000)—
1911
do
do
J. «fe J.
6
500.000
1,000
166 1881
Improvement mortgage bonds.......- -- -- .................
1913
Cp.
Sep.,’85,
pd.
J
’y,’
86.
M.
&
S.
5
2, 000,000
1,000
1883
Bost.Hoosac Tun.&West.—Debenture b on d s.............
July 1, 1886
Boston
at
Office.
J.
«fe
J.
3
4,541,700
100
&c.
681
Boston dt Lowell—Stock.................................................
April
1. 1892
do
do
A. <fe O.
999,500
7
1872
B o n d s............................................. .........................
March 1,1895
do
do
M. «fe S.
7
500.000
1875
Bonds..................................... ....................... .............
July
1,
1896
do
do
J. «fe J.
6
750.000
1876
Bonds...........................................................................
July 1, 1899
do
do
J. «fe J.
5
620.000
1879
Bonds..... ..................... ..............................................
1903
do
do
41« M. «fe N.
250.000
1883
Bonds........................... .............................................
Sept. 1, 1905
do
do
M. «fe S.
4
500.000
1885
Bonds...........................................................................
Oct. 1, 1897
do
do
A. <fe O.
6
200.000
Lowell & Lawr., bonds.............................................
Oct. 1, 1898
do
do
A.
<
fe
O.
226,900
6
Salem & Lowell, bonds..............................................
May 15,1886
Boston, at Office.
41« M. «fe N.
7,000,000
100
Boston dt Maine—Stock............. ................................. 206
Jan.,1893«fe94
do
do
J.
<
&
J.
3.500.000
7
500
&c.
1873-4
Bonds, coupon and registered.................................
1905
4
600,000
1885
Improvement bonds..................................................
a . & b . N.Y., N.Y. N. H «fe H. Co. Oct., 1, 1886
2
2,983,500
Too
54
Boston dt N. T. A ir-Line—Stock, pref. (guaranteed)
1905
do
do
F. «& A.
500.000
5
1,000
50 1880
1st mortgage...............................................................
Nov. 1, 1886
Boston at Office.
4.000.
000 41« M. & N.
100
68
Boston dt Providence—Stock.................................... .
July 1, 1893
do
do
J. «fe J.
500.000
7
1873
Bonds to purchase branches, coupon or registered
June 1, 1932
J.
«fe
D.
498.000
6
1,000
41 1882
Bradford Bordell dt Kinzua—1st mortgage.............
J. «fe J. Last paid July, 1884. Jan. 1, 1932
500.000
6
1,000
54 1881
Bradford Eldred dt Cuba—1st m ort..........................
Oct. 1, 1923
N.
Y.,
Cent.
Trust
Co.
A.
<
fe
0.
3.500.000
6
1,000
6 9 1884
Brooklyn Elevated—1st mort.......................................
July 1,1915
do
J. <fc J.
1.250.000
3-5
1,000
6-9 1885
2d mortgage (for $1,250,000).................................
2.000.
000
100
82
Brooklyn dt Montauk—Stock ($1,100,000 is pref.) ..
Mar. 1, 1887
N.Y.,
Corbin
Bank’g
Co.
M.
&
S.
750.000
500
«fee.
54
1867
South Side, 1st m ortgage.........................................
-PaymentsNet
Gross
B erk sh ire.—Owns from Connecticut State Line to West Stock- j
Int. <&mise.Div.,p.o.
Rentals.
bridge, Mass., 22 miles. Leased in perpetuity to Housatonio Railroad Years. Miles. Receipts. Receipts.
$345,105
4 1«
$2,085,622 $675,345 $154,808
82.140
Company at 7 per ct. on capital stock, $600,000. Lessors pay taxes, <feo., 1881358,509
5^fl
128,613
735,302
2.128,761
83.140
and for this reason the quarterly dividend due in Oct. is usually omitted. 1882403,490
323,406
51«
941,463
2,864,127
188384.
..
B o sto n Sc A lb a n y .—Owns from Boston, Mass., to Albany, N. Y.» 1884702,543
6
263,281
H 85
__ 689
4,037,430 1,250,801
201 miles ; numerous branches, 99 miles ; leased lines, 84 miles ; total
(V. 40, p. 60, 453; V. 41, p. 160,355, 5 8 4 , 653; V. 42> p. 60, 8 2 ;
operated 384 miles. The Boston <& Albany was formed (Dec.. 1867) V. 43, p. 190, 174.)
v
b y the consolidation of the Boston <feWorcester and the Western rail
B o sto n Sc M a in e.—Owns from Boston, Mass., to Portland,
roads. The five per cent bonds of 1882 were issued to the State of Me., 115 miles; branches, 11 miles; leased—Boston to New Hamp. State
Massachusetts in exchange for 24,115 shares of B. <fe A. stock held by linpi 41 miles; N. Hamp. State line to Maine State line 16 miles; Maine
the State, and in September, 1883, out of this stock a stock dividend of State line to Portland 51 miles; Conway Junction to North Con wav 73
10 per cent was made to stockholders. In 1886 another 313 per cent of miles; numerous short branches, 187 miles; total operated, including
stock was given to stockholders. Last annual report in V. 41_, p. 494.
Eastern, 489 miles, less 3 miles leased. In March, 1883, voted to lease
For nine mos. ending June 30,1886, gross earnings were $5,936,606, the Eastern RR. of Massachusetts, but after litigation the lease was held
against $5,522,672 in 1884-5; net. $1,889,593, against $l,662,9c2; inter to be invalid and a new one was made in December, 1884, on the basis
est, taxes and rentals, $1,011,975, against $1,072,698; surplus, $877,618 stated under title of the “ Eastern” in this Supplement. In Deo., 1885,
in 1885-6, against $590,264 in 1884-5. Operations for four years were as leases of the Worcester Nashua <&Rochester and the Portland <&Roches
follows :
50 years from Jan. 1, 1886, were confirmed by vote of
Div. ter railroads forThe
Gross
Net
Passenger Freight (ton)
year ends Sept. 30. The last annual report was in
Mileage.
Receipts. Receipts.* p. ot. stockholders.
Mileage.
Tears. Miles.
V. 41, p. 652, and the earnings and expenses for two years of the com
8
151,255,032 374,317,338 $7,790,372 $2,189,381
18812.. 369
bined
properties
were
as follow s:
8
1882- 3 .. 369 157,255,971 373,535,456 8,539,875 2,380,971
1884-85.
Operations—
1883-84.
1883- 4.. 384 167.402,441 374,347,455 8,148,713 2,362,836 8
204,321,021
........................ 198,084,721
Passenger
mileage........
8
188A-5..384 167;097,784 398,862,058 7,637,982 2,344,305
114,506,044
Freight (tons) mileage...............................122,597,198
* Net receipts include income from rents, «fee.
Earnings—
___ __
$3,544,302
—(V. 40, p, 570; V. 41, p. 190, 4 9 4 , 611; V. 42, p. 217, 603; V. 43, Passenger............. ....................................
2,435,401
Freight................ ....... : ...........................
2,489,003
p. 22,163.)
252,393
248,740
B o sto n Concord Sc M o n trea l.—Owns from Concord, N. H., tc Mail, express, «fee................
Woodsville, N. H., 93 miles; branches—Woodsville, N. H., to Groveton
$6,232,096
Total gross earnings.......................... $6,288,419
Junction, 53 miles ; Wing Road to Mt. Washington, 20 miles ; leased
4,161,006
Total operating expenses................
4,196.990
Plymouth to No. Woodstock, 21 miles; total operated, 186 miles.
In June, 1884, leased to Boston <&Lowell. See V. 38, p. 705.
$2,071,090
Of the sink, fund bonds due in 1889, there are outstanding in the hands Net earnings.............................................. $2,091,429
6676
66*74
of other parties, $202,000, on which interest is paid; the trustees holding Per cent of operating exp. to earnings.
$306,000 and the corporation holding $116,000 on which no int. is paid. —(V. 40, p. 27, 213; V . 41, p. 527, 556, 584, 6 5 2 , 688; V. 42, p. 518.)
Fiscal year ends March 31. The income account in 1884-85 showed net
B o sto n Sc N ew York. A ir L in e .—Owns from New Haven, Conn.,
receipts from rentals, «fee., $272,748; charges, $307,564; balance, deficit, to Willimantic, Conn., 50 miles; leased, Tumerville to Colchester, 4
$34,816. (V. 40, p. 6 51.)
miles; total operated, 54 miles. Formerly the New Haven Middletown
B o sto n H o o sa c T u n n e l Sc W e ste rn .—Owns from Massachu <feWillimantic. A lease was made in Oct., 1882, to the N. Y.N.H.& H artf.
setts State Line to Rotterdam (junction of N. Y. West Sh. <feBuff.RR.), N. RR. for 99 years at 4 per cent dividends per year on the pref. stock and
Y., 55 miles, and leases branches to Saratoga and to Schuyler ville, N. Y., interest on the bonds; the common stock is $834,900.
B osto n Sc P rovidence.—Owns from Boston, Mass., to Providenoe,
26 miles ; total, 80 miles. The road connects with the line running
through the Hoosao Tunnel. In March, 1883, all property and rights R. I., 44 miles; branches,20 miles; leased, Attleborough to North Attle
west of Hoffman’s Ferry (10 miles west of Schenectady) were reported borough. 4 miles; total operated, 68 miles. Co. has valuable depot
as sold to the N. Y. W. Sh. <fc Buff, for $400,000 cash and $700,000 stock properties in Boston. Notes outstanding Sept. ,1885, were $310,000. An
nual report in V. 41. p. 555. Gross earnings in 1883-84, $1,727,147; net,
of the N. Y. W. S. <& B.
The work of construction was done under contract by the Continental $352,153; in 1884-85, $1,677,066; net, $381,326. (V. 41, p. 55 5 .)
B rad ford B o rd e ll Sc K i n * u a —(3-foot gauge)—Mileage from
Construction <&Improvement Co. (120 Broadway. New York), and a cir
cular dated Aug. 4,1883, issued by that company, gave particulars con Bradford, Pa., to Simpson, Pa., 15 miles; Kinzua Junction to Rew City,
cerning tbe affairs of the company as quoted in the Investors ’ S upple 2 miles: Rew City to Eldred, 12 miles; Simpson to Smethport, 10 m iles;
In Nov.. 1885,
m ent up to December, 1885, inclusive. The debenture bonds are re total, 39 miles. Stock is $500,000, par of shares, $100.
deemable at will prior to maturity and may be converted into mortgage bondholders were asked to subscribe 5 per cent on their bonds to resume
bonds if any are hereafter issued. Stock outstanding Sept. 30, 1885, payments. Gross earnings in 1885, $71,897; net, $19,775. John J.
Carter, Titusville. Pa.. Pres’t.—(V. 40, p. 569; V. 41, p. 653.)
$6,000,000.
B rad ford E ldred Sc C uba.—Owns from Eldred, Pa., to Bolivar
Augustus Kountze, President; John P. Kennedy, Vice-President. For
year ending Sept. 30,1884, gross earnings were $464,970 ; net, $25,- and Wellsville, N. Y., and branch to Richburg, and Cuba to Little
831* For year ending Sept. 30, 1885, gross earnings were $500,687; Genesee, 54 miles. 8tock, $480,000. There are also 2d mortgage bond»
for $60,000, 6s, which were due June 1, 1885. Foreclosure suit begun
operating exnenses, $525.481.
in February, 1885. Thos. C. Platt appointed receiver in Oot., 1885, and
For thé half-year ending Dec. 31 the following statement was made:
$28,526 certificates authorized. Gross earnings in 1884-85, $42,856;
1885.
1884.
def. $1,393; def. under interest, taxes, etc., $36,010; gross in 1883-84,
$288,155 $96,394; deficit, $7,602. Total deficit to Sept. 30,1885, $85,479. R.
E a rn in g s .............................................. ........ $299,369
E x p e n s e s ............... .......... ...........
240,393
282,194 G.Taylor, President. (V. 41, p. 472; V. 42, p. 23,60.)
B r o o k ly n E le v a t e d .—Line of road from Fulton Ferry and Brook
Net earn ings............................................. $58,976
$5,960 lyn Bridge via Broadway, «fee., to East New York, about 7 miles. This
Gross earnings for three months, Jan 1 to Mch. 31, in 1886, $134,075, is the Brooklyn Elevated Railroad organized Oot., 1884, as successor to
against $104,225 in 1885 ; net $26,038, against def. of $15,845 in 1885. the Brooklyn Elevated Railway sold in foreclosure May 12,1884. The
—(V. 41, p. 215, 216, » 7 2 , 586 ; V. 42, p. 92, 430, 604; V. 43, p. 102, capital stock is $5,000,000; the second mortgage bears 3 per cent interest
till 1888 and 5 per cent thereafter. In Deo., 1885. the oompany adver
216.)
B o sto n Sc L o w e ll.—Owns from Boston to Lowell, 27 m.; branches - tised to take up the certificates with Central Trust Co. and issue the new
Salem <fc Lowell, 17 miles; Lowell <& Lawrence, 12 miles; others, 19 certificates. The annual report was in the Ch ronicle of Jan. 19,1886,
miles : Middlesex Cent, and branch, 12 miles ; leased—Nashua «fe Lowell, V. 42, p. 59, and the following directors were elected for 1886: Henry
15 miles ; Stony Brook RR., 13 miles ; Wilton RR., 15 miles ; Peter W. Putnam, Henry W. Putnam, Jr., Edward Lauterbach, Frederick Uhlborough Railroad, 10 miles ; Manchester «fe Keene RR., 29 miles ; Nashua mann, Hugo Rothschild, A. J. Hardenbergh, Leonard Lewisohn, Adolf
Acton <fc Bost, RR., 21 miles ; total leased, 115 miles ; total operated, 190 Ladenburg, Elbert Snedeker, Stephen Pettus and Isaac Lewis, Henry
.
miles. Also operates B. Con. <&Mon.. 186 miles, and No. of N. Harnp.. 83 W. Putnam, President. (V. 41, p. 101, 744; V. 42, p. 59.)
B r o o k ly n Sc M o n ta u k .—Brooklyn to Eastport, L. I., 71 miles ;
miles. In April. 1885, assumed the management of the St. John. <feLake
Champlain road, 132 miles; also has built the Bedford <& Bellirica RR., 8 branches to Fresh Pond Junction, 2 miles; to Rockaway, 9 miles ;
miles. The Lowell <fc Lawrence and Salem <&Lowell railroads were pur total, 82 miles. This was first the South Side Railroad of Long
chased and consolidated in 1879, and the Middlesex central in 1883, Island, which was foreclosed Sept. 16, 1874, and reorganized as the
the Boston <fe Lowell assuming theii bonds. In September, 1886, a lease Southern of Long Island. On June 3,1879, the property was again sold
in foreclosure of the second mortgage, and this company organized.
of the Central Mass. RR. was made.
In June, 1884, a lease of the North, of New Hamp. and the Bost. Con. The preferred stock has a preference of 7 per cent, not.cumulative, it
& Montreal railroads was voted on the terms stated in V. 38, p. 705, and is leased to the Long Island Railroad for 50 years at 25 per cent or the
control of those roads was then assumed; but suits were commenced by net earnings of the whole Long Island RR. system, moluding its leased
seme of tiie stockholders to have the leases annulled. In Jan., 1885, lines. No rental has been reported as paid, and no_ publm rw orts are
purchase of an interest in Manch. <&Keene RR. was voted and $500,000 issued. The new mortgage for $ 1,000,000 was to take up the first, aim
bonds authorized for the purpose. The company had notes outstanding balance issued ior extension to Moriches; it is guaranteed by L. L RJB.
Sept. 30,1885. amounting to $375,390. Earnings, etc., have been as fol as to interest on $750,000, and bothpnncipal and mterest on the $250;000. A. Corbin, President, Daniel Lord, Secretary, New York City.
ows;
2 0
l n v e s t o e s ’.
supplem ent.
[V o l XLIII.
Subscribers w ill confer a great favor by giv in g Im m ediate notice o f any error discovered In tkese Tables.
Bonds—Prinol
DESCRIPTION.
INTEREST OR DIVIDENDS.
Miles Date Size, or
Amount Rate per When Where Payable, and by pal, When Due*
For explanation of column headings, &c., see note8 of
Par
of
Stocks—Last
Outstanding
on first page of tables.
Cent. Payable
Whom.
Road. Bonds Value.
Dividend.
B’klyn dkM .-(ConVd)-New M.($l,000,000),gu.L.I.,g
Brunswick dk Western—1st M., g., (for $2,500,000)..
Buff.Brad.dk Pitts.—Gen. M.,(incl. 10,000 ae. I’d)___
Buffalo New York dk Brie—Stock...............................
First mortgage...........................................................
Buffalo N. 1. dk Philadelphia—Stock, common.......
Stock, preferred.........................................................
1st mortgage, gold..................................... ..............
2d mortgage, gold......................................................
Consol, 1st mortgage, gold— .................................
Trust mort., gold (secured by collaterals).............
General mortgage (for $24,500,000).....................
Buff. Pitts. & W., M. bds (for $7,500,000 coup.). . . .
do
1st mort. (W. & F. R R .)...............
do
1st M. (Oil Cr. RR.) renew’d, ’82..
do
1st mort. (Un. & Titusv. R R .)___
do
Consol, mort. (Pitts. T. & B .)___
Income bonds for funded coupons..........................
Car trusts, principal and interest..........................
Buffalo Rochester dkPittsburg.—R. &|P. 1st m ort...
R. & P. Consol, mortgage.........................................
R. & P. Income mortgage.........................................
R. & P. Equipment bonds (car trust) in 3 series...
Buffalo dk Southwestern.—Stock (one-half of it pref.)
1st mortgage bonds, g o ld .........................................
Burlington C. Rapids dkNorthern—Stock...................
1st mortgage..............................................................
Iowa City & Western, 1st mortgage, gold, guar..
Ced. Rap. I F.& N.W., 1st M., g., guar.,red.aft.’90
do
1st M., gold, guar.........................
Consol. 1st mort. & collat. trust, gold, coup. & reg.
Cairo Vincennes dkChic. —1st M. bds., gold (Wabash)
California Pacific—1st mortgage, gold.....................
85
171
26
142
140
669
669
121
121
205
All.
274
50
38
25
120
108
258
67
67
713
369
73
55
177
All
271
114
1881
1883
1876
1871
1878
1881
1882
1884
1881
1865
1862
1870
1876
1881
1882
1881
Var’s
1877
1876
1879
1880
1881
1884
1881
1867
$1,000
$250,000
500&o.
2,000,000
1,000
580,000
t>100
950,000
1,000
2,380,000
50 13,750,000
6,568,650
50
3,000,000
500 &c.
1,000.000
500 &e.
6,999,000
1,000
2,748,000
1,000
1,000
3,200,000
4,061,000
1,000
1,500,000
1,000
573,000
1,000
500,000
500 &c.
866,000
100 &C.
622,625
1,821,860
1,000
1,300,000
1,000
2,121,000
1,000
478,000
1,000
834,000
943,666
1,000
1,500,000
100
5,500,000
100 &o.
6,500,000
1,000
584,000
1,000
825,000
1,000
1,905,000
l,000&c
5,000,000
1,000
3,857,000
1,000
2,250,000
B r u n s w ic k & W e ste rn .—From Brunswick to Albany, 171 miles,
and 83 miles projected to Columbus, Ga. This was formerly the Bruns
wick & Albany, and the present company has $3,500,000 pref. stock,
and $1,500,000 common. Mr. Fred. Wolffe in New York and a syndi
cate in Frankfort were most heavily interested. Gross earnings in 1884,
$308.098; net, $19,764. In 1885, gross, $283,129; net, $20,719. E.
W. Kinsley, President, N. Y. City. (V. 41, p. 419.)
B u ffalo B rad ford & P ittsb u rg .—Owns from Carrollton, N. Y.
to Giiesville, Pa-, 26 miles. Completed in 1866, and leased to New
York Lake Erie & Western for 499 years. Rental, 7 per cent on out
standing bonds, $40,600 a year. Capital stock, $2,286,400.
B u ffalo N ew Y o rk & E rie.—Owns from Buffalo, N. Y., to Cor
ning, N. Y., 142 miles. Leased in 1863 to the New York & Erie for
400 years, and now operated by the N. Y. Lake Erie & West. Co. Rental,
$238,100—viz., 7 per cent on stock and bonds and $5,000 for organiza
tion expenses. Dividends and interest paid directly by the lessees.
B u ffalo N ew Y o r k & P h ila d e lp h ia .—A consolidation in
February, 1883, of the Buffalo N. Y. & Philadelphia, the Buffalo Pitts
burg <&West., Oil City & Chicago and Olean & Salamanaca, Mileage as
follows: Buffalo Division—Buffalo, N. Y.. to Emporium, Pa., 121 miles,
Larabees, Pa., to Clermont, Pa., 22; Pittsburg Division—Buffalo, N. Y.,
to Oil City, Pa., 139; Titusville, Pa., to Pioneer. Pa., 9; Mayville, N. Y.,
to Chautauqua, N. Y., 3*2; Oil City to New Castle, Pa., 182; Tryonville
to Union City, 16 miles. Rochester Division—Rochester, N. Y., to Hins
dale, N. Y., 99; Olean, N. Y., to Bradford, Pa., 26; Bradford, Pa., to
Kinzua, Pa., 26; Eldred to Tarport, 18 miles; Genessee Valley Ter. RR.,
2 miles; total operated, 663 miles, of which 40 miles are leased. The
Bwain’s Br., 11 miles, owned by B. N. Y. & P., is leased to L. & P. RR.
The trust bonds of 1923,are secured by $500,000 first mort. bonds of the
Genessee Valley Terminal Co., $700,000 of tlie first mort. bonds of the
Olean & Salamanca RR., $1,600,000 first mort. bonds of the Oil City &
Chicago RR. and $300,000 mort. bonds of the No. West. Coal & Iron Co.
In 1884 the earnings proved insufficient to meet interest, and after
rying a plan which was not successful, a receiver was subsequently
appointed and foreclosure suits were begun.
In B'eb., 1886, another plan was issued (see Chronicle, V. 42, p. 242)
by which foreclosure would be made and $10,000,000 new first mortg.
bonds issued, of which $6,073,000 would be reserved for the several
issues of old first mortgages, and tlie B. N. Y. & P. 2d mortg., the bal
ance for re-organization expenses and for future use. A 2d mortg. for
$20,000,000, interest payable in cash, or in cash and scrip, to be issued
for all other bonds on certain terms; and $30,000,00 >to bs the author
ized issue of new common stock. The old stock to pay an assessment
of 8 per cent on the preferred and 12 per cent on the common, each
receiving the new 2d mortg. bonds for the assessment paid, and share
for share in the new stock. This plan was backed by a strong oommltte and received the assent of a large majority of bondholders. Fore
closure proceedings were begun in July, 1886. See V. 43, p. 48.
The annual report for the year ending Sept. 30, ’85, was in the Chron
ic l e , V. 42, p. 91, and contained the following income account.
Receipts—
1883-84.
1884-95.
Net earniDgs..................................................
$526,933
$154,847
42,300
57,924
Rentals and interest...........................................
Total income............................. ................... $569,233
$512,771
Disbursements—
Interest on bonds................................................. $1,275,935
$894,610
Other interest, &e...............................................
130,751
172.833
Total disbursements...................................... $1,406,686
$ i,067,443
Balance— ....................................................
.def.837,453
def.554.672
For eleven months, from Oct. 1,1885, to Aug. 31,1886, gross eamiogs
were $2,360,289, against $2,129,339 in 1884-5; net, $512,571, against
$511,780. (V. 42, p. » 1 , S3, 155,187,21 4 ,2 4 2 ,3 0 3 ,3 9 3 ,4 6 27 548,
663, 782; V. 43, p. 48,73, 102,131,190, 244, 367.)
B u ffa lo R o ch e ste r & P ittsb u rg .—Owns from Rochester, N. Y.,
southward to Pa. State Line, 120 miles; Buffalo Branch from Ashford
June, to Buffalo, 46 miles; other branches, 9 miles; total, 175 miles.
The Pitts. & State Line (the Penn. Co.) operates all the road in Pennsyl
vania formerly operated by the R. & P.
This company was formed in Oct., 1885, as successor of the Rochester
¿c Pittsburg, sold in foreclosure Oct. 16 and purchased by Mr. A. Iselin.
That portion of the roafi lying in Pennsylvania is known as ttie Pitts.
& State Line RR. Co. (stock, $1,200,000), and $1,560,000 of the R. & P.
consol, bonds are assumed by the P. & S. L. Co. The consolidation of
the companies in New York and Pennsylvania was to have been made,
■but an injunction was issued by which it was delayed. A plain state
ment of the status of the company was given in the Chronicle of Oot.
35, 1886, on page 398. The bonds of the Co., if issued according to the
proposed reorganization plan, will stand as above.
The preferred stock of the new consolidated company is to be $6,000,-000 (entitled to 6 per cent), and common stock, $6,000,000.
For the quarter ending June 30, gross earnings were $244,962 in 1886.
against $297,240 in 1885; net, $28,342 against $85,772; deficit
under interest, taxes and rentals, $84,480, against $22,891.
The earnings of the R. & P. for the years ending Sept. 30 were as follows:
1884-5.
1883-4.
$1,216,679
$1,069,933
Gross earn ings....................... ........ . .
Operat’g expenses (not incl’g taxes). (69 8 %) 849,224 (73*92 %) 790,965
Net earnings............................ .
$367,455
$278,968
—(V. 42, p. 243, 393, 519, 604, 695, 751; V. 43 p. 218, 369, 398.)
6 g.
5 g7
3ia
7
M. &
J. &
J. &
J. &
J. &
iia
6 g7 g6 g6 g.
6 g.
6 g.
7
6
7
7
Q.—M.
J. & J.
Q .-M .
J. & J.
M. & N.
M. & S.
A. & O.
F. <fe A.
A. & O.
J. & J.
F. & A.
6
6
6
6
6 &7
2
6 g5
7
6
5
5
5
7
g.
gg.
g.
gg.
S. N. Y., Corbin Banx’g Co.
J.
None ever paid.
J. N. Y. L. Erie & W. RR.
D. N. Y. L. Erie & W. RR.
D.
do
do
C
Phila.orN.Y.,Co.’sOfflce
Last paid, July, ’85.
Last paid, Sept., ’ 85.
ia paid in cash Jan., ’85
ia paid in cash Nov., ’84
13 paid in cash Mar., ’85
ia paid in cash Apr., ’85
Aug.coup.pd.by Ph.& E.
Last paid, Oct., ’85.
3 paid in cash Jan., ’85
3 paid in cash Feb., ’85
F. & A. N. Y., Union Trust Co.
J. & D.
do
do
__
do
do
Various
Gallatin Bank.
J. <fc J.
J.
M.
A.
A.
A.
J.
J.
N. Y., 1st Nat. Bank.
& D. N. Y., Central Trust Co.
& S.
do
do
& O.
do
do
& O.
do
do
& O.
do
do
& J.
Last paid, Jan., ’84
& J. N. Y., Eugene Kelly & Co
Mar.
Jan.
Jan.
June
Deo.
1,
1,
1,
1,
1,
1911
1913
1896
1886
1916
Dec. 26,1883
July 1, 1896
Deo. 1, 1908
July 1, 1921
May, 1, 1923
Mch. 1, 1924
April 1, 1921
Feb. 1, 1896
Apr. 1, 1912
July 2, 1890
Feb. 1, 1896
Feb. 1, 1921
Deo. 1, 1922
1921
Various.
(1)
July 1, 1908
June 1,
Sept. 1,
Oot. 1,
Oct. 1.
April l,
Oot. 1,
Jan. 1,
1906
1909
1920
1921
1934
1931
1887
B uffalo & S o u th w estern .—Owns from Buffalo to Jamestown,
N. Y., 67 miles. Formerly the Buffalo & Jamestown; reorganized
in 1877, after foreclosure. In July, 1880, leased to New York Lake
Erie & Western for 99 vears—at 35 per cent of gross earnings, but
interest on bonds guaranteed. Rentalin 1884-85, $101,824. In January,
1885, the lessee made default in payment under the lease, and suit was
brought, but settlement was afterward reported and 2 per cent dividend
declared. (V. 40, p. 60.)
.
B u rlin g to n Cedar R a p id s & N orth ern .—On Jan. 1, ’86, oper
ated from Burlington, Iowa to Albert Lea, Minn, (including 11 miles
leased), 253 miles; branches—Linn, la., to Postville, la., 94 miles; Mus
catine, la , to Riverside, la., 31 miles; Vinton, la., to Holland, la., 48
miles; Iowa City to What Cheer and to Montezuma, 73 miles; Clinton
Division, 81 miles; Decorah Division, 23 miles; Iowa Falls Division,
387 miles; total operated, 990 miles. The former company was organ
ized as the Burlington Cedar Rapids & Minn., June 30,1863. Defaulted
Nov. 1,1873. Property sold under forecloure June 22,1876, and this
company was formed by the purchasers. In May, 1885, a decision was
obtained by the holders of old equipment and 2d mortgage bonds of
1874, in the case of Simmons agamst this company, holding those bonds
to be good against the road, and giving defendants the right to redeem
the property on payment of amount found to be due, which is said to be
about $1,000,000. The case was appealed.
Bonds of the Cedar Rapids Iowa Falls & Northwestern road are en
dorsed (endorsement is on the bonds); the 6 per cent bonds are redeem
able at 105 after Oct. 1,1890. Of the 5 per cents $325,000 are reserved
to retire the 6 per cents. The company guarantees the above bonds
mentioned, and also guarantees $150,000 of Minneap. & St. Louis bonds.
In April, 1884, for the purpose of issuing additional bonds for exten
sions, the limit of authorized capital stock was raised to $30,000,000,
The consolidated bonds are dated April 1,1884, and issued at $15,000 per
mile to build new road, and secured by first mortgage bonds on the
roads built, deposited with the trustee of this mortgage. The roads
thus built to Deo. 31, 1835, were the Cedar Rapids & Clinton, 82 miles,
$1,200,000 bonds; Chicago Decorah & Minnesota, 23 miles, $343,000
bonds; and the Cedar Rapids Iowa Falls & Northwestern, Minnesota and
Dakota Division, 386 miles, $3,063,000 bonds.
The annual report for 1885 as published in the Chronicle , V.
42, p. 662, said: “ No extensions have been made to your lines during
the year. The earnings, after paying operating expenses and interest
on bonds, have been expended in the general improvement of tbe prop
erty and equipment, wnich is in first class condition to do the business
offered, and to compete successfully with other lines in the same territory.
For eight months from Jan. 1 to Aug. 31, gross earnings were $ l ,721,803
in 1886, against $1,864,123 in 1885; net, $381,606 in 1386, against
$479,729 in 1885.
For 1885 the annual report in V. 42, p. 662, gave net income, &o.,
for four years as follow s:
FISCAL RESULTS.
Miles operated.........
Earnings—
Passenger . . . . . . . .
Freight.....................
Mail, express, &o. ...
Tot. gross earnings
Oper exp. and taxes
Net earnings.............
P.c. op. ex. to earn’s.
1882.
1883.
1884.
1885.
713
713
990
990
$
$
$
$
639,506
654,746
666,922
691,174
2,092,679 2,117,949
2,021,175
2,284,542
68,497
90,859
105,362
117,797
2,800,682
2,863,554
2,796,459
3,093,513
1,883,681 1,963,177
1,917,769
2,136,543
917,001
895,377
878,690
903,970
67*25
68*7
68*5
70*77
INCOME ACCOUNT.
1882.
$
917,001
78,057
1883.
$
895,378
48,596
Total income.........
995,058
943,974
909,798
987,768
Interest"oiTdebt .......
Const’n&improvem’t
Equipment................
Other expenditures..
484,624
71,965
368,502
22,396
521,232
89,942
294,904
44,802
573,663
68,778
10,774
28,617
742,275
70,794
41,925
213,118
Receipts—
Net earnings............
Other receipts.........
1884.
$
878.690
31,108
1885,
$
903,970
83,798
Tot. disbursem’ts
947,487
950,880
681.832
1,068,122
Balance......... .
sur. 47,571 def.6,906sur. 227,966 def.80,354
- ( V . 40, p. 150, 181,183, 281, 5 3 8 ; V. 42, p. 60, 6 62.)
C a ir o V in c e n n e s & C h ic a g o .—Cairo to Tilton, III., 271 miles;
branch, St. Francisville to Vincennes, 8.; total, 279 miles. This was a
consolidation of t ie Cairo & Vincennes, Danville & 8. W. and St. Francis
ville & Lawrence roads, forming the Cairo D ivislon of the Wabash St.
Louis & Pacific. The latter company issued its o » e bonds secur-d on
this road <o r $3,857,000, and after default the r >ad was surrendered
to the mortgage trustees, Messrs. A. J. Thomas and Charles E. Tracy,
April 27, 1885. Foreclosure proceedings are p md'ng, but are not
pressed, owing to a claim of Wabash not yet adjudicated. Receiver’s
certificates for $322,667 have be»n Issued. For four months ending
Aug. 31,1886, gross earnings were $ .’ 41,703, and net, $73,169. (V. 43,
p. 479.)
C alifornia Pacific.—Owns from South Vallejo, Cal., to 3aoramento,
Cal., 61 miles; branches—Adelante to Calistoga, 35 miles; Doer’s to
O cto b er , 1886. i
K AILK O AD
STOCKS
AND
JBCXNDö,
2 1
Subscribers w i l l confer a great fa v or b y g iv in g im m ed ia te notice o f a n y error discovered in tbese T a b les.
Bonds—PrinciINTEREST
DESCRIPTION.
pal.When Due.
Miles Date Size, or
Amount Rate per When Where Payable, and by Stocks—Last
of
Par
For explanation of column headings, &c., see notes of
Outstanding
Dividend.
Whom.
Cent. Payable
on first page of tables.
____ . Road. Bonds Value.
6 g. J. & J. N.Y.,So. Pao. RR. Office Jan. 1, 1891
Cal. Paeifie.-tO ont’d)—2dM ., end. by Cent. P a c .... 114 1871 $1,000 $1,600,000
3 & 6 J. & J.
July, 1905
3.000,000
do
do
500
3d, mort. gu. by Cal. Pac. ($1,000,000 are 3s)........ 114 1875
6
J. & J.
Jan 1, 1922
Boston.
132 1886
1,000
(I>
California Southr-'Se'W mort. ($10,000 per mile)—
March
1, 192$
6
M.
&
S.
3,505,000
1886
1,000
Income bonds....................... •- - - •- - • " —
Camden, Co.’s Office. Feb. 1, 1884
1,258,050 7 on pref
50
Camden <&Atlantic—Stock ($880,650 of it pref.).... "78
J.
&
J.
Phila.,
Farm.
&
M.
B’k.
Jan..
1893
490,000
1853
78
1,000
7
g.
1st mortgage (extended 2Ö years in 1873)..........
497,000
6
A. & O.
do
do
Oct., 1, 1904
1854
1,000
2d mortgage, extended in 1 8 7 9 .....................
6
July
1,
1911
do
do
350,000
J.
&
J.
1881
1,000
Consol, mortgage (thirty years).............................
6
F. & A. Phila.. Penn. RR. Co.
350,000
1897
31 1867 500&0.
Camden <&Burlington Co.—1st mortgage.. . . — —
2
F.
&
A.
N.
Y.,
Grand
Cen.
Dep.
Feb.
1,
1884
15,000,000
404
100
Canada Southern—Stock.-------ij.-- -•
5
J. & J. N. Y., Union Trust Co. Jan. 1, 1908
1,000 13.858,441
1st mort., interest guar, by N. Y. C. & Hud. K iv.. 404 1878
Mar. 1, 1913
5
M. & S.
do
do
404 1883 1,000&C 5,100,000
2d mortgage, coup, or reg.......- - ........- - - - - ■- u v v
l 1» F. & A. N. Y., 63 William St. Aug. 17, 18 8 »
100 65,000,000
Canadian Pacific—Stoch (guar. 3 p. o. div. till 93). 1,730
5
&
6
1,823,333
Canada Central RR. 1st & 2d mort. bombs............
5
3,500,000
Quebec Province due on Q. M. O. & O. RR.
1881 500 &o. 3,612,500
5 g- A. & O. Montreal,N.Y.orLondon Oct. 1, 1931
Land mortgage bonds, gold (redeemable at 110)..
35.000,000
5 g. J. & J. London, Baring B. & Co. July 1, 1915
All.
1885
£100&c
1st mort. debent, sterling............. - - .......................
1,800,000
6 g. J. & J. N.Y ., Farmers’L.&T.Co. April 1, 1920
1,000
Carolina Central—1st mortgage, gold, coup, or reg. 242 1881
July 1, 1915
New York, Office,
1,200,000
242
1881
1,000
6
g. J. & J.
2d mort., gold, income, reg., not cumulative........
A. & O.
July 1, 1910
6
do
do
1,500,000
1,000
3d mort., gold, income, reg., not cumulative........ 158 1881
July, 1911
J.
&
J.
6
2,250,000
158
1881
1,000
Carson <&Colorado—1st mortgage.............................
J. & J.
510,000
6
1,000
Second Division m ort................................................ 43 la 1883
....
1,159,500
98
50
Outawissa—Common stock-.........................................
1,000,000
313 M. & N. Philadelphia Co.’s office May 18, 1 8 8 »
98
50
New preferred stock...............................................
do
May 18, 1886
2.200,000
98
313 M. & N.
50
Old preferred stock....................................................
.... Phila., Phila.& Read.Co. Feb. 1, 1902
6
230,500
1882
1st m ortgage.................. ..........................................
do
do
F.
&
A.
Feb. 1, 1900
7
1,300,000
93
1870
500
&c.
Mortgage bonds.........................................................
J. & J. New York, 44 South st. July 1, 1886
589,110
34
100
Cayuga <t Susquehanna—Stock.................. ---------N.Y.,
J.
Ken.
Tod
&
Co.
1886 to 1889
A.
&
O.
7
30,000
14
1864
500 &o.
Cedar Falls & Minn.—Boudson 1st div., extended.
do
do
Jan. 2, 1907
J. & J.
7
61 1866 500 &c.
1,377,000
Bonds on 2d division, su iug fund............. - - ........
May
1, 1895
N.
Y
.,
195
Broadway.
M.
&
N.
1,600,000
6
100 1866
1,000
Central Branch Union Pacific—1st mort., gold —
May 1, 1895
do
do
630,000
1879
1,000
7 g. M. & N.
Funded interest bonds (coupons held in trust). ..
1
896,’
97, ’99
U.8.
Treas.,
at
maturity.
.....
6
1,600,000
Too ’66-7-8 1,000
2d mort. (Government subsidy)..........................
stock
was
canceled
and
mortgage
bonds
for
$35,000,000
created.
The
Knight’s Landing, 19 miles; total operated, 113 miles. Consolidation
(Dec. 2 3 ,1 8 6 9 )o f California Pac. and California Pacific Extension com Government held $20,000,000 of these for its loans as part seourity.
panies. Leased for 29 years, from July 1,1876, to Central Pac. Rental, and for the balance of $9,880,912 held a lien on thp lands (subjeot
$600,000 per «.nunm, and three fourths of net earnings when in excess only to the land grant bonds). But in April, 1886, a further settlement
of that amount. Capital stock, $12,000,000. Extension bonds of was made with the Government, intended to discharge all the com $3,500,000 and incomes of $1,000,000 were in default, and the new pany’s obligations. The Canadian Pacific Railway Co., through Baring
bonds of 1875, guaranteed bv Central Pacific, were issued in place Bros., of London, sold the remaining $20,000,000 of bonds, the proceed»
thereof. In 1885, gross earnings, $932,399; net, $522,627. R. P. Ham of which were applied to paying off a part of the indebtedness of the
company to the Government, while the balance of $9,000,000 was liqui
mond, President, San Francisco.
C aliforn ia Sou th ern .—(-See map Atch. Top. <£ S. F.) From dated by transferring about seven million acres of land belonging to the
National City to Colton and San Bernardino, Cal., 132 miles, was opened original grant of 25,000,000.
Of the land grant bonds there are outstanding only the above amount,
in 1882, but defaulted on first mortgage interest due July 1,1884. In
October, 1884, an arrangement was made with Atohison Topeka & Santa against which are deferred payments on lands sold, amounting to $1,579,708.
The Government also holds $5,000,000 of land bonds, which
Fe RR. Co., by which old first mortgage oonds were to be exchanged for
income bonds, and a new mortgage of $10,000 per mile put on the whole are to be canceled ultimately, as the Government takes about 6,800,000
acres
of
land,
andthen the lands in possession of the company will be
road, including a new section built to Waterman, on the Mojave Div
ision of the At. & P. In 1885 gross earnings were $164,893; expenses, about 14,700,000 acres. The bonds are receivable for lands and may
be
drawn
and
paid off at 110. The directors elected in May, 1886, were
$168.719; deficit, $3,825. First six months of 1886 gross earnings,
$364)946; deficit, $32.825. (Y. 41, p. 241, 556; V. 42, p. 242,338; Y. as follow s: Sir George Stephen, Bart.; William C. Van Horne, Donald A.
Smith,
Richard
B. Angus, Edmund B. Osier, Sandford Fleming, H. 8.
43, p. 487.)
C am den Sc A tla n tic .—Owns from Camden, N. J., to Atlantic Northoote, H. S. Martinsen, W. L. Scott, George R. Harris, Levi P. Morton
City, 60 miles; Atlantic City to Longport, 7 miles; Phil. Marl. & and Richard J. Cross.
Gross earnings for eight months from January 1, 1886, $6,080,823,
Med. RR.; Haddonfleldto Medford, 12 miles; total operated, 79 miles.
Pref. stock, entitled to 7 per cent if earned, and to as high as paid to com. against $5,083,892 in 1885; net, $2,131,869, against $1,932,519.
The annual report for 1885 was published at length in the Chronicle ,
if more than 7. For eight months from Jan. 1 gross earnings were $440,958 in 1886, against $412,385 in 1885; net $116,879, against $121,948. V. 42, p. 633. The following is a comparative statement of earning»
On main line and branches in 1885, gross earnings were $561,347 ; net, and expenses for the last two years:
Earnings—
1884.
1885.
$134.143 ; in 1884, gross, $556,695; net, $85,639. See annual report,
.$1,980,902
$2,859,222
Passengers..............
withincome account, &o., in V. 42, p. 630.
4,881,865
C am den & B u rlin g to n C ou n ty.—Owns from Camden, N. J., F reig h t.............., ........................................ 3,410,365
85,736
137,151
to Pemberton, N. J., 23 miles; branch, Burlington, N. J., to Mount M a ils.................
95,671
172,303
Holly, 7 miles; total, 30 miles. Leased to Camden & Amboy Railroad Express.........................................................
Parlor
and
sleeping
cars..............
...........
43,492
73,523
Co., and now operated by the Pennsylvania Railroad Company, lessees
134,352
244,426
of United Railroad & Canal Company’s lines. Lease rental, $44,415, Miscellaneous.............................................
being 6 per cent on stock and bonds, and $500 for organization ex
T o t a l...................................................... $5,750,521
$8,368,493
penses. Capital stock $381,925 and funded debt $350,000. Dividends Expenses................................................. v~ 4,558,630
5,143,276
m January and July. Gross earnings in 1885, $199,979; net, $71,340.
Net earnings................................ ...$1,191,890
$3,225,216
C anada Southern.—Line o p R oad —Main line from International —(V. 41, p. 22,101,132, 272, 355, 391, 445, 472, 527, 556, 653; V. 42,
Bridge to Windsor, Ont., 226 m.; branch, Amherstburg to Essex Centre, p. 60, 462, 487, 574, 603, 6 3 3 , 727; V. 43, p. 22, 48,162, 274.)
16 mules; Fort Erie Br., 17 miles; Oil Springs Br., 3 miles; St. Thomas,
C arolina C entral.—Owns from Wilmington, N. C., to Shelby, N. C.,
Ont., to Courtright, Ont., 63 miles; Erie & Niagara, 31; Sarnia Chatham & 242 miles. Formerly Wilmington Char. & Rutherford, chartered in
Erie, 7; Canada Southern Bridge & Ferry, 4 ; Toledo Canada Southern & 1855. Succeeded by existing company after foreclosure May 3, 1873.
Detroit, 56, and Michigan Midland & Canada, 15; total of all lines Defaulted, and receiver placed in possession April 5,1876. Sold in fore
operated, 436 miles, of which 105 miles are nominally owned by proprie closure May 31, 1880, for $1,200,000.
In 1885-86, gross earnings,
tary companies under separate organizations.
$477,484; net, $151,752; in 1884-5, gross, $528,122; net, $71,721.;
T he Co m pa n y , A lliances , &c.—The corporation was chartered in Wilmington Bridge bonds, $275,000, at 7 per cent, are guaranteed by
Canada Feb. 28,1868, and the main line opened Nov. 15,1873. Default this Co. and the Wil. Col. & Aug., and interest paid. The stock of $1,was made, and a reorganization forming the existing company was 200,000 was placed for five years from Nov. 1,1879, in the hands of
completed in 1878. Interest on the 1st mort. is guaranteed by the New the reorganization committee, but is now all issued to 2d mortgage
York Central Railroad Co. for 20 years; but the principal is not guar bondholders. (V. 40, p. 684; V. 41, p. 419.)
‘
anteed. In Nov.. 1882, a close contract was made with the Michigan
Carson & C olorado.—(3 foot gauge.)—From Mound House Nev., to
Central for 21 years from Jan. 1,1883, providing for the operation Candelaria, Nev., 158 miles; Junction to Keeler, Cal., 141 mile»;
of the Canada Southern by the Michigan Central, also for the placing of total 299 miles. Road follows the valleys along eastern side of Sierra
the total earnings of both roads in a common treasury, out of which is to Nevada Mountains and may eventually jom Southern Pacific at Mojave.
be paid, first, the operating expenses of both roads; second, the fixed Stock, $6,380,040 authorized; $2,760,000 issued. Gross earnings in
charges of both; third, the division of the remainder between the two, 1883, $441,994; net, $196,308. H. M. Yerington, Pres’t, Carson, Nev.
in the rate of two-thirds to the Michigan Central and one-third to the
C ataw lssa.—Owns from Tamanend, Pa., to Williamsport, Pa., 94
Canada Southern; fourth, for the raising of $6,000,000 by a 2d mort.
on the Canada Southern to double-track its line, to build a bridge over miles; branch, Summit Station to Silver Brook, 4 miles; total operated,
98 miles. Leased from Nov. 1,1872, for 999 years to Philadelphia &
Niagara River, and for other extensions and improvements.
For the year 1884 the income account of the combined companies was Reading. Rental, 30 per cent of gross earnings and $8,000 a year for
in the annual report, V. 40, p. 566, and after paying fixed charges the company expenses. Funded debt is also assumed by lessees. Seven per
surplus due Canada Southern applicable to dividends was $20,448, cent is guaranteed on the preferred stocks. (V. 43, p. 387.)
C ayuga Sc Su squ eh an n a.—Owns from Susquehanna River to
against $611,571 in 1883. The bills payable (loans) Dec. 31,1884, were
$1,237,339. See Michigan Central for later returns. (Y. 40, p. 5 6 6 Ithaca, N. Y., 34 miles. Leased in perpetuity to Delaware Lackawanna
& Western at a rental of $54,600 a year. Dividends on capital, 9 per
715, 527; V. 42, p. 22, 752; V. 43, p. 23.)
C anadian P acific.—( See Map.)—The whole road extends from cent per annum.
_
Cedar F a lls Sc M in n eso ta .—Owns from Waterloo, la., to Minn.
Montreal to Vancouver on the Pacific coast in British Columbia,
2,906 miles. There are branches and auxiliary lines owned of 802 State Line, 76 miles. Leased to Dubuque & Sioux City for 40 years
miles (113 miles of this not completed Jan. 1,1886), and 629 miles of from January 1, 1867, at $1,500 per mile as a minimum and a con
leased lines, making the whole system 4,338 miles, of which 127 miles tingent of 35 per cent of gross earnings from $3,500 to $7,500 per mile
were yet unfinished on Jan. 1,1886. (See details in Ch ro nicle , V. 42, and of 30 per cent of any excess over $7,500 per mile. The Dub. & 8. C.
(carrying this road) is leased to HI. Central till 1887, with option to the
p. 636.) The road was opened throughout the first of July, 1886.
In Nov., 1883, leases were made of the Ontario & Quebec system, in lessee of renewing. Capital stock, $1,586,500. All operations and
eluding the Credit Valley Railway and Toronto Grey and Bruce, about earnings are included in Illinois Central reports. The minimum rental
is $113,370 per annum. J. S. Kennedy, Pres’t, N. Y.
590 mues in all, with bridge facilities at Montreal.
Central B ra n c h U n io n P acific.—(See Map Mo. Pac.)—Owns from
This company was incorporated February 18, 1881, under a charter
from the Dominion of Canada. The company had an important con Atchison, Kan., to Waterville, Kan., 100 miles; leased Atchison Col &
tract in its charter, receiving from the Government $25,000,000 in cash Pac. 254 miles ; Atch. J. Co. & W., 34 miles; total operated, 388 miles.
as a subsidy, also 25,000,000 acres of land, all to be fit for settlement. The Un. Pac. Cent. Branch was formerly the Atchison & Pike’s Peak RR.,
The Government also conveyed to the company, free of all cost, 713 and was one of the roads embraced in the act of Congress incorporating
miles of road. The company also acquired449 miles of road and branches the Union Pacific RR. The stock is $1,000,000, o f which the Union
from Montreal west to Callendar, subject to $5,423,333 in liens on Pacific holds about $858,700. The company received a Government
subsidy of $1,600,000. Default on interest was made May 1,1873, but
those roads.
The authorized stock was $100,000,000, and in Nov., 1883, theDomin- no foreclosure took place. It is operated as a part of the Missouri Pacific
ion Government gave a guarantee of 3 per cent dividends per annum system under a 25 years lease, made Sept., 1885, by which the net earn
for ten years .on $65,000,000 of the stock outstanding. In February, ings are paid to Union Pacific as rental. (SeeV. 4 l,p . 419.) Fiscal
1884, the Dominion Government modified its agreements and loaned year ends Dec. 31. In 1884 gross earnings were $1,715,145; net,
the company $22,500,000, taking a lien upon the railroad and lands of $594,171. For 1885 gross earnings were $1,855,840; net, $591,000]
the company, subject to the prior liens. In May, 1885, a further modi total fixed charges, $513,136; surplus,. $98,333. In October, 1885, 5
fication was made by which that lien was given up, and the $35,000,000 per cent dividend paid. (V. 41. p. 272, 391, 419; V. 42, p. 350.)
INVESTORS’
SUPPLEMENT.
O ctober , 1886. J
23
R A IL R O A D STOCKS A N D BONDS.
INTEREST OR DIVIDENDS.
DESCRIPTION.
Miles Date Size, or
Amount Rate per When Where payable, and by
of
of
par
For explanation of column headings, &c., see notes
Outstanding Cent. Payable
Whom.
Road. Bonds Value.
on first page of tables.
Savannah,
Ga.
J. & D.
2
$100 $7,500,000
Central R. R. <&Rank, Oa.—S t o c k ......,.- .- .- - - — 730
J. & J. N.Y.Nat.City Bk.,&Sav.
7
5,000,000
1,000
Generalmort. “ tripartite” bonds, c o u p ................ 620 1872
Savannah, Ga.
J. & J.
6
4.600,000
1881
100
Certificates of debt (for dividend)....................... .
New York.
J. & J.
6
987,000
Ocean SS. Co., guar., 1st mortgage........................
N.Y., Mercantile Tr. Co.
J.
&
J.
7
3,700,000
1879
189
500&O.
Central Iowa—1st mortgage.......... - ................ - -- —
do
do
A.
&
O.
7
6294)00
1880
Debt certificates, issued for overdue coupons—
677,000
6 g. A. & O. Last paid April, 1884
1.000
1st mortgage, gold, Eastern Division — .............. 124 1882
Last
paid
April,
1884
A.
&
O.
6
684,000
95 1882
1,000
111. Division, 1st mortgage ($16,000 p. m ) ...........
A. & O. Last paid April, 1884
6
193,000
1,000
1st mort. on branches ($12,0(W per m ile )............. 100 1882
New
York,
Agency.
J.
&
D.
4.633,000
6 g.
1.000
Consolidated mort., gold (for $6,748,000).............. 501 1884
....
6
508,000
Car trust certificates........... - - «vi
....
....
44
7,245,988
Central Massachusetts—Stock ($3,852,088 is pref.),.
...
5
44
1886
(t)
Mortgage bonds (for $2,000,000)..................
....
573
lia
100 18,563,200
Central o f New Jersey—Stock..........................
F.
&
A. Last paid Aug., 1886
7
74
5,000,000
1869
1,000
1 st mortgage bonds........ - - - - - »- - - - -- -- ........
M. & N. Last paid May, 1886
7
4,400,000
1872
1,000
Bonds (convertible Nov., 1875 to 1 8 7 7)..-.Last paid Apri1, 1886
7
Q
.-J
.
15,000,000
97
1874
1,000
Consolidated mortgage (for $25,000,000)...
J. & J. New York, at Office.
7
600,000
7 1867 50Ó &c.
Newark & New York. 1st mortgage— - . .. .
J. & J. Last paid July, 1886
5
5,000,000
1881
1,000
M. & N. Last paid May, 1886
7
5,454,000
1878 100 &c.
M. & N. Last paid Nov., 1884
6
5,000,000
1883
1,000
J. & J. Balt., at B. & O. office.
3
2,859,300
137
50
Central Ohio—($411,550 of this is preferred).
do
do
M. & S.
6
2,500,000
137
1,000
—
1st mortgage bonds.........................................
....
(i)
General mortgage (for $2,850,000).............
N.
Y.
&
San
Francisco.
s
'
F.
&
A.
Too 59,275,500
Oentral Pacific—Stock............................. ----- ■•
New York, Office.
742 1865-8 1,000 25,883,000
6 g. J. & J.
1st mort., gold, (2 sinking funds, $50,000 e:
do
do
284,000
50 1864
7 g. J. & J.
1,000
Califor. State aid, gold (s. fund, $50,000) extend
do
do
A.
&
O.
6,080,000
146
1870
1,000
6
g.
lstm.S. Joaq’n Val. Br., gld (s.f. $50,000)...
U.
S.
Treasury.
J. & J.
6
742
25,883,000
U. S. Loan, (2d lien on certain terms)........ .
New York, Office.
2,624,000
158 1869
1,000
6 g. J. & J.
U. S. Treasury.
1,970,000
6
123 1869
do
Government lien...............
New York, Office.
J.
&
J.
6,000,000
1,000
)
152
1868
6
g.
Cal. & Oregon, 1st M., gold, guar., (s. f. $10'
New
York & London.
6 g. J. & J.
3,680,000
.1. 192
192 1872
1.000
Cent. Pac., mortgage, on C. & O. Branch...............1.
Atlanta,
leased —Augusta _ __ ___
22 miles; Southwestern Railroad and branches, 343 miles; total opera
ted 730 miles; also takes net results of 170 miles more operated by
separate companies. In 1881 the lease of the Georgia RR. for 99 years
was taken in the interest of this company and the Louisville & Nashville,
which operate it on joint account. The certificates of debt were
issued, June, 1881, as a dividend to stockholders—$40 per share to Cen
tral Georgia and $32 per share to Southwestern. The company owns a
large interest in connecting lines and the Ocean Steamship Co. of
Savannah. This company and the Georgia Railroad Company are joint
owners of the Western Railroad of Alabama, purchased at foreclosure
sale in April, 1875. The “ tri-partite” bonds were issued jointly by this
company, the Macon & Western and the Southwestern.
The annual report for the year ending August 31,1885, was in the
Ch ronicle . Y. 41, p. 687. The income account was as follow s:
’
1882-83.
1883-84.
1884-85.
$4,659,082
$3,911,407
Gross income...............- ............ $4,977,807
Expenses.
- 2,950,115
2,851,455
2,211,615
Bonds—Prmol
pal, When Due
Stocks—Last
Dividend.
June 25,1886
Jan. 1, 1893
1891
Jan. 1, 1892
July 15,1899
3 mos. notice.
April 1, 1912
1912
1912
June 1,1924
1890
Nov., 1902
July 1. 1899
1887
July 1, 1921
May 1, 1903
M a y l, 1908
Jan. 30,1886
Sept., 1890
Feb. 1,1884
1895 to ’98
July 1, 1888
Oct. 1, 1900
1895 to ’98
July 1, 1899
1899
Jan. 1, 1888
Jan. 1, 1892
On June 1, 1883, the road was leased for 99 years to the Phila. <&
Reading RR. Co. at 6 per cent on stock and interest on bonds, but a
decision was rendered in Feb., 1886, holding this lease void, and on Oofc.
15,1886, Messrs. J. S. Kennedy and Joseph S Harris were appointed re
ceivers, in pursuance of a plan of reorganization.
In the fiscal years ending Nov. 30, 1884 and 1885, theP.&R. Co., lessee,
reported gross receipts, net, fixed charges, <feo., on this road as follow s:
•• .
1883-4.
1884^5.
Gross earnings.......... .................................. $10.441,095
$10,300,466
Expenses.................................................
5,995,114
5,699,200
Net earnings............................ .............
Less rents
J Dividends
................
$4,445,980
1,113,792
$4,601,266
$4,825,851
1,113,792
$5,920,212
$5,939,643
Deficit for the year....................................... $1.474,231
$1,338,377
—(V. 41, P, 23, 50, 76,101, 160, 355, 391, 419, 473 ; V. 42, p. 22, 186,
Net income................ .........$2,027,692
$1,80",627
$1,699,792 214,303, 365, 393, 462, 479, 574, 727,782; V. 43, p. 102,103, 131, 190,
Interest, rentals and dividends. *1,982,517
1,848,491
1,776,369 367, 458.)
C e n t r a l O h io .—Owns from Bellaire, Ohio, to Columbus, Ohio
Surplus $45,175 Def.$40,864 Def.$76,577 137 miles. Chartered in 1847 and opened in 1854. Reorganized in
* Dividend in 1882-83, 8 per cent; in 1883-84, 6; in 1884-5, 5 p. e.
1865. Leased to the Baltimore & Ohio, for 20 years, Nov. 11, 1866;
- ( V . 41, p. 68 7 .)
rental, 35 per cent of gross earnings. Feb. 23, 1880, the lease was
Central I o w a .—Owns from Albia, la., to Northwood, la., 189 extended to Dec. 1, 1926, with the option of renewing for terms of 20
miles; Muchakinock Branch, 2 miles; Grinnell & Montezuma Branch, years perpetually. It is proposed to issue a new mortgage of $2,850,13 miles; Storey City Br., 35 miles; Newberg branch, 2 7 miles; Bel- 000 at 4*2 per cent, running till 1926, and present bondholders may ex
mond branch, 22 miles; total old road, 288 miles. Eastern Division change their bonds due 1890 for the new bonds; the B. & O. Company
to Mississippi River, 124 miles, and Illinois Division to Peoria, 89 miles receives $1,000,0< 0 of these bond for improvements on the Cent. Ohio,
Total, 501 miles. Bridge over Mississippi River at Keithsburg opened 1866-86. In 1883-84 gross earnings, $1,169,773; net. $376,638; rental,
Dec., 1885. Chartered as Central RR. of Iowa and opened in 1871. $409,420. In 1884-85 gross earnings $1,060,166; net, $295,856;
Defaulted and placed in hands of a receiver in 1873. Reorganized under rental, $371,058; loss for year, $75,202. The road between Newark <fc
present title June 18,1879, after foreclosure sale under first mortgage Columbus (33 miles) is owned jointly with the Pittsb. Cin. & St. Louis
RR. Co. (V. 43, p. 102.)
July 18,1877.
C e n t r a l P a c i f i c .—(See Jidp o f Southern PacificJ —L ine o p R o a d —
The stock is $8,076,600 common; 1st preferred, $871,500, and 2d pre
ferred, $1,078,300. First preferred has prior right to 7 per cent —Mainline—San Francisco, Cal., to Ogden,Utah, 883 miles, and auxil
(non-cumulative); then 2d preferred entitled to 7 per cent; any surplus, iary lines, 371; total, 1,252 miles; oper. under lease or contract; Cal.
after payment of 7 on common stock, to be divided pro rata between Pac., 115, North. RR., 154, others, 128; total, 397 miles; total length o f
road operated and accounted for J an. 1,1886,1,650 miles. The So. Pao.
the three classes.
In Oct., 1884, default was made in paymentof interest; in Jan., 1885, in Cal , Arizona and New Mexico, 1,108 miles, formerly accounted fo r
also, the coupons were partly purchased. A plan to convert the three by the Central Pacific, are leased to the Southern Pacific Co., and ac
divisional bonds into consolidated (V. 40, p. 423), and fund certain counted for by that Co. In connection with the Union Pacific, the
coupons, was not carried out in April, 1885, but in October, 1885, the Central Pacific forms a continuous line from San Francisco, Cal., to
same plan modified was brought forward, by which bonds would be Council Bluffs, la. (1,918 miles), which was opened May 10,1869. The
funded by Cent. Trust Co. into consols, dollar for dollar, and coupons to Cal. & Oregon line is being extended northward to a junotion with
be funded to June 1, 1886, inclusive, into said consol, bonds at 75, and Oregon & Cal. at the State line, and laoks about 100 miles of completion.
In March, 1885, the Central Pacific lines were leased to the Southern
the coupons of new consols stamped “ one-half paid ” up to June, 1888,
Pacific Company, and the previous lease of the Southern Pacific Railroad
inclusive, the other half to be paid in cash as it falls due.
In Oct., 18?6, Mr. A. B. Btickney, of the Minn. & Northwestern road, to Cent. Pacific was relinguished to the same company. The Cent. Paciflo
receives all its net surplus income above annual charges of every sort and
was elected president.
betterment^, and a minimum rental of $l,2o0,000 and a maximum of
The fiscal year ends Deo. 31. The income account was as follow s:
$3,600,000 (payable annually on M a yl), is provided for by the lease,
INCOME ACCOUNT.
but this rental is first applicable to the payment of Central Paciflo
1883.
1884.
1885.
Gross earnings................... $1,392,587
$1,448,259
$1,307,371 floating debt, if any; and when the first year’s rental fell due in May,
Net earnings.......................
$473,046
$409,800
$323.894 1886, no dividend was declared. One effect of the lease was to fix the
control of Central Paciflo without regard to ownership of the stock. ■(See
Deduct—
Interest on b o n d s .............
$331,000
$421,795
.$513,880 abstract of lease, V. 40, p. 480.)
T he Charter , L eases, &c.—The C. P. was a consolidation (Aug. 22,
Interest on car trusts____
35,835
30,600
30,948
Miscellaneous.....................
8,870
14,603
18,359 1870) of the Central Pacific (organized Oct. 8, 1864), California &
Oregon, San Francisco & Oakland, San Francisco &. Alameda and San
Total..............................
$375,705
$466,998
$563,687 Joaquin Valley railroads. The act of Congress of July 1, 1862, granted
Balance.............................. Sur. $97,341 Def. $57,198 Def. $239,792 U. S. bond subsidies and lands to the Paciflo railroads; the act of July,
—(V . 41, p. 76, 241,272,391, 556, 611; V. 42, p. 271, 752; Y. 43, p. 2 1 6 , 1864, made the lien of the Government subject to that of the first mort
gage bonds, but authorized the Government to withhold one-half the
458.)
Central o f M assach u setts.—This company was organized Nov. charges for transportation on its account, and also to receive 5 per cent
10,1883, by the bondholders who purchased the Massachusetts Central of the net earnings; the “ Thurman” act of May 8, 1878, directed that
at foreclosure sale Sept. 1,1883. Road completed from Cambridge to the other one-hall of charges for Government transportation should be
Jefferson, Mass., 44 miles. In Sept., 1886, a lease was made to the withheld, and also that the company should pay $1,200,000 yearly to
Boston & Lowell for the term of 99 years on the basis of a guarantee of the Government for the sinking fund of its debt or as much thereof aa
sufficient earnings to pay the interest on the new bonds. (V. 41, p. 22, shall make the 5 per cent of net earnings, plus the whole transportation,
76; V. 43, p. 274, 367.)
account, equal 25 per cent of the whole net earnings for the y a n , The
C entral o f N ew Jersey.—Owns from Jersey City, N. J., to Phil- leases are numerous and mostly for short dates, and the terms of each
lipsburg, N. J., 73 miles; branches, 30 miles; leased and operated, in brief were stated in the Chronicle , V. 37, p. 47.
in New Jersey, 269 miles, and in Pennsylvania, 201 miles; total
An agreement for consolidation with Oregon & California RR. by an
operated, 573 miles. The principal leased lines in Pennsylvania are exchange of stock and guaranty of O. & C. bonds was made, which was
the Lehigh & Susquehanna and the Lehigh & Lackawanna, with to have been carried out by July, 1886, under certain contingencies. (See
their branches, &c. Under the lease of 1883 to Philadelphia & Reading O. & C.)
the min mum rental of Lehigh & Susquehanna is $1,414,400 per year
Stock and B onds .—Prior to the current year the foUowing dm aenas
and maxim im $1,728,700 till 1888; then $1,885,800 till 1893, and were paid, viz.: In 1877, 8 per cent; 1880, 6 per cen t; 1881, 6 ; is s z , o ,
after that $2,043,000. In February, 1877, the property was placed in 1883, 6 ; in 1884, 3 ; in 1885, nil. Prices of stock since 1879 nave peen.
the hands of a receiver. A majority of the Lehigh & Wilkesbarre Coal In 1880,63@9712; in 1881. 80Ls®102*8 ; in 1.882, 82%@9,71«; to l8 8 3 ,
Company’s stock is held by Central of New Jersey, and of the 61®88; in 1884, 30®67%; in 1885, 26^ 3 4 9 ;. m 1886. to Get. 2 8 ,
$11,500,000 Lehigh & Wilkesbarre Coal bonds, $6,116,000 are held 38@5058. Most of the issues of bonds have sinking funds, as seen
by Central of New Jersey and receive interest after all other bonds in the table above, but these sinking funds are invested manuy in t a
are satisfied. The American Dock & Improvement Company is vir bonds of other Huntington lines and accumulate ; the bondsare not
tually owned by the railroad company, and the right exists to called in. The sinking funds amounted Jan. 1 ,1886, to $ 8 ,z /o ,o /o . xno
purchase the bonds by lot at 110. The adjustment bonds are payable at land grant bonds are retired with proceeds of land sales.
will. The 6 per cent convertible debenture bonds run positively till I The debenture bonds <- 1885 may be converted into Central Paciflo
34
INVESTORS’
SUPPLEMENT.
[V ol. X L ! ! !
Subscribers w ill confer a great favor by g iv in g Im m ediate notice o f an y error discovered In these T a bles.
DESCRIPTION.
Bonds—Princi
INTEREST OR DIVIDENDS.
Miles Date Size, or
pal, When Due.
Amount Rate per
For explanation of column headings, Ac., see notes of
Par
of
When Where Payable, and by Stocks—Last
on first page of tables.
Road. Bonds Value. Outstanding
cent. Payable
Whom.
Dividend.
Central Paeifie—(Continued) —
San Fran. 0. A A., 1st M. (s. f. $100,000).......... .
20 1870 $1,000
$687,000
8
J. A J. N. Y., Cent. Pac.Offiee. July 1, 1890
Land grant 1st mortgage bonds..............................
1870
1,000
4.630.000
6 g. A. A O.
do
do
Oct. 1, 1890
Land grant 2d mortgage bonds...............................
1,000
5.000.
000
Income bds. ($6,000,000), skg.fd.,10 p.c.per ann’m
1878
1,000
3.285.000
M
.'Ä
N
.
N.
Y.
and
San
Fran.
May, ’84 to 88
Charleston <£ Savannah—1st M., C. A S., guar........ i b i 1853
500
505.000
T * M. A S. Charleston, 1st Nat. Bk. March 1, i« 7 7
Funded int. bonds, S. A C. RR., guar, by S. C ar...
1808 100 Ac.
111,800
7
M. A S.
New York,
Sept. 1, 1899
1st mortgage, Savannah A Charleston R R .. . . ___ i b i 1869
500
500.000
7
J. A J.
do
Jan. 1, 1889
General mortgage for $1,500,000...........................
«
(*>
Charlotte Columbia <6 Augusta—1st mort. consol... Ï9 Ï 1869 50Ö Ac.
2.000. 000
* 7*
J. *Ä’j . N. Y., Nat. Park Bank, Jan. i , i8 9 5
191 1872
2d Mortgage...............................................................
1,000
500.000
7
A. A O.
do
do
Jan. 1, 1910
Columbia A Augusta 1st mortgage.........................
1865
189,500
7
J. A J.
do
do
Jan. 1, 1890
Consol, mortg., gold (for $3,000,000).....................
1883
l ’ òb’o
Nil.
J. A J.
New York Agency.
July
1933
Chartiers—1st mortgage.............................................. "2*3 1871
1.000
500.000
?«• A. A O. Philadelphia, Penn R.R. Oot. 1,
1, 1901
Chesapeake <t Ohio—Purch. money funding bonds... 428 1878
1.000
2.279.000
J. A J. N. Y., Company’s office, July 1, 1898
1st mortgage, gold, series “ A” ................................. 503 1878
1.000
2,000,000
do
do
1 ! A. A O.
July 1, 1908
do
do
do “ B” ................................ 428 1878 100 Ac. 14,976,770
6 g. M. A N. 23May coup. pd. in scrip July 1, 1908
do
funding scrip............................
750.000
2d mortgage, cur. (interest m stock or cash) I....... 428 1878 10 b Ac. 10.106,429
’ *6*
J. a ' j . N. Y. Company’s Office, Jufy 1, 1918
1st mortgage, gold of 1911, Peninsula Extension.
1.000
75 1881
2.000,000
do
do
6 g- A. A O.
Jan. 1, 1911
1st mort., gold, on extension (for $3,000,000).......
1882
1,000
42,000
J. A D.
do
do
June 1, 1922
Var.
Equipment trust bonds.............................................
1,000
848.000
3 g- Various
do
do
Various.
Ches. Ohio<t Southwest.—1st M., gold ($19,000 p. m.) 353 1881
1,000
6.176.000
W g. F. A A. N. Y., 52 Exch’ge Place, Feb. 1, 1911
2d mortgage ($11,000 per m ile).............................
353 1881
1,000
3,865,400
6
F. A A.
do
do
Feb. 1, 1911
Paducah A Elizabetht’n, 1st M. ($300,000 are 8s) 186 1877
1,000
500.000
6 A 8 F. A A.
do
do
Feb. 1, 1897
Equipment trust bonds for $2,000,000..................
1882
1,000
561.000
6
J. A J.
do
do
Yearly to 1892
” 64
Cheshire—Stock, preferred.........................................
100
2.100.000
21« J. A J. Keene, N. H., Office.
July
1, 1886
Bonds, not mortgage.................................................
’76-’78 500 Ac.
800.000
6
J. A J. Boston, Boat. Nat. Bk. July 1,’96A ’98
Chicago <£ Alton—Common stock............................... 850
100 14,107,800
2
Q .-M . N. Y., John Paton A Co. Sept. 1, 1886
Preferred st’ek (7 p. c. y ’rly not cumulative)....... 850
100
3,479,500
2
Q.—M.
do
do
Sept. 1, 1886
General mortgage, sterling, for £900,000............ 322 1873
1,000
4,379,850
J. A J. Lond’n,J.S. Morgan ACo. July 1, 1903
1st mortgage.............................................................. 220 1862
1,000
2.383.000
? * J. A J. N. Y., John Paton A Co. Jan., 1893
38
Joliet A Chicago, 7 per cent, stock........................
100
1.500.000
1%
Q.—J.
N. Y. U. 8. Trust Co.
Oct., 1886
stock at anytime up to 1893, at the market value of the stock at the time ploi. w recei ve u per cent. The Ches. A Ohio guarantees $700,000 bond *
o f surrender; hut no stock will be issued at less than 50 per cent.
elevator, hut in case of paying them will take the elevator
8
T h e L and G ran t .—The total land granted the Central Pacific and the £o£,?
lh e full interest charge per year in cash is $1,279,260. In Mav 1885
California A Oregon companies was about 12,000,000 acres, In 1885, in i
2?ere<i
“
to
Pa7
ha
cash
one-half
part
of
the
coupons
o
f
the
$499,950 was received for lands sold. Cash and land contracts on hand . ® .. h°n<is then falling due, and to issue scrip for the remain
Jan. 1,1886, $2,231,474.
der thereof, payable out of net earnings of the railway companv above
Oper atio n s , F inances , Ac.—The Central Pacific Railroad had a strict expenses and fixed charges as they acorue, all liens and unpaid
monopoly of business in the territory occupied by it, and for many years portions of coupons being preserved as seourity for such deferred in
was able to control the traffic and make rates in that territory. The terest scrip as against coupon holders not accepting serin, if anv ” ThA
Southern Pacific was afterwards built and was extended to New Or 8ame
done with coupoas of Nov. 1,- '85; but in May, 1886, only oneleans, taking much of the through business. The C. P. stock after pay third of the coupon then due was paid in cash and balanoe in scrip (see
ing dividends for a few years ceased to pay after February, 1884, and Y. 4^5, p. D75).
declined heavily; in 1885 the road was leased, as above, to the So. Pac.
1886,Mr. Huntington issued a circular proposing that the
From Jan. 1 to May 31 gross earnings on 1,671 miles were $5,850,173,
B bonds should have interest reduced to 4 per cent and the principal
against $5,348,289 in 1985; net, $3,152,034, against $2,751,581 in extended to 1986, the holders receiving 25 per cent in Newport News A
1885; surplus over interest, rentals, &c., $239,781, against $339,410.
Miss. Valley Co’s stock; the holders of currency bonds to surrender
The annual report for 1885 was in Ch ro n icle , V. 42, p. 781, showing their bonds in exchange for 125 per oent in said stock. See V. 43 p 152
results as below, the first table being the operations under the lease
Gross earnings for eight months from Jan. 1,1886, $2,636,293, against
from April 1 to Dec. 31
$2,145,826; net, $776,119, against $566,522.
»must
Miles operated.........................1,650 Rentals leased lin es.... $1,083,414
The annual report for 1885 was in V. 42, p. 486. Net Income was
Int.
on
bonds
Apr.
1
to
Gross earnings............ $11,369,481
$896,981; interest on funded and floating debt, Ac., $1,017,803- deficit
Oper, expenses........ ..
4,721,558 Deo. 31.......................... 2,644,024 $120,822. Earnings and expenses were as follows in 1883,1884 and ’ 85Int. on floating debt...
100,920 £®aj8Gross Earnings. Op’g Expenses. Net Eam ’gs’.
Net earnings....
5,647.926 Sk. fd. and U. 8. require
$1,306,858
ments Apr. 1 to Dec.31
756,539 J - f l? .......................................$2,599,933
Add other income.
9,470
Taxes and betterments.
582,693
Miscellaneous...............
7,774
Net income.............. $6,657,396
“ (V. 4 1 , p. 76, 161, 494, 527, 653; V.42, p. 60,112, 242, 303, 365. 393,
’
'
’
Total expenditures.. $5,175,361 4 8 5 ,5 4 8 ,5 7 5 ,6 9 4 ; V. 43, p. 22, 152.)
Bal. due Cent. Pac. RR. Co. under the lease, April 1 to Dec. 31. $1,482,032
Chesapeake O hio Sc S o u th w estern .—Owns from Elizabethtown
Add net earnings for Jan., Feb. and March, 1885.................. 1,301,832 Ky., via Paducah, to Memphis, Tenn., 352 miles; leased, Cecilian branch
Add dividends and interest.........................................................
621,232 of L. A N., 47 miles. Total operated, 398 miles. This road forms the
Total net receipts................................................................. . $3,405,096 western connection of the Chesapeake A Ohio and the Lexington A Big
Deduct—Gen’l expenses, taxes and betterments prior to Ap. 1
729,940 Sandy. The company purchased the Memphis Paducah A Northern—
Interest on floating debt prior to April 1 .............................
225,856 Paducah to Memphis—and the Paducah A Elizabethtown, subject to the
Interest on bonds prior to April 1 ..........................................
850,674 $500,000 mortgage on the latter, and leased in perpetuity the Cecilian
Sinking funds and U. S. requirements, paid by Cent. P a c...
847,112 Branch of Louisville A Nashville, from Louisville to Cecilian Junction,
Other charges............................................................................
383,745 for $60,000 per annum, with option of purchasing it. The 1st mortgage
5 per cent till August, 1887, and 6 thereafter. Of the 2d mort
Total oharges......................................................................... $3,037,327 bears
bonds $726,000 are ex-coupon to Aug., 1887. Stock—Common, $6.030 Balance, surplus for year .......................................................... $367.769 000,
and
preferred, $3,696,000.
—(Y. 41, p. 65, 7 5 ,1 3 2 , 373, 445; Y. 42, p. 148, 364, 574, 754, 7 81 ; V.
Gross earnings for eight months, Jan. 1 to Aug. 31, were $1,025,086 In
43, p. 73, 217, 244.)
’
1886, against $970,024 in 1885; net $347,859, against $283,064.
C harleston Sc Sa va n n ah .—Owns from Savannah, Ga., to Charles
INCOME ACCOUNT.
1884.
1885.
ton Junction, S. C., 104 miles ; operates—Ashley River branches, 4 miles; Net earnings..............................................................$339,951
$502,531
Charleston Junction to Charleston, 7 miles; total, 115 miles. This was Interest, rentals, taxes, A c.,.................................. 621,180
631,920
first the Chari. & Sav. RR. ; reorganized in 1866 under name of Savan
nah A Charleston, and opened March, 1870. Sold in foreclosure June
Balanoe, deficit.................................................. $281,229
$132,389
7,1880, and present company organized. Stock, $1,000,000. Earnings —(V.41, p. 527, 653; V. 42, p. 60,124, 242, 365, 487, 518, 694.)
ross in 1885, $453,799 ; net, $85,216. In 1884, gross, $428.240: net’
C hesh ire.—Owns from South Ashbumham, Mass., to Renews
31,649. H. B. Plant, President, New York.—(V. 40, p. 684.)
’ Falls,
Vt., 54 miles; leased, Monadnook Railroad, Winchendon to
C h arlotte C o lo m b ia Sc A u g u sta . — Owns from Charlotte Peterboro, N H., 16 miles; and 10 miles Vermont A Mass; total 80
N. C., to Augusta, Ga., 191 miles. Leases Atl. Tenn. & O. RR
miles; but the Monadnock, 16 miles, is not included in the Cheshire
Charlotte to Statesville, 44 miles ; Cheraw & Chester, 29 miles- earnings, leaving 64 miles operated. $51,000 rental paid to Vt. A
and Chester A Lenoir, 109 miles. The Charlotte Col. & Aug. was a consoli Mass, for leased portion of road. Capital stock—common, $53,300, and
dation (July 9,1869) of the Charlotte & South Carolina and the Columbia preferred, $2,100,000. Gross receipts in 1884-85, $561,203 ; net,
A Augusta. The road has been under the control and management of $213,856. In 1883-84, gross $586,685; net $180,775; surplus over
the Richmond & Danville since 1878, and in May, 1886, was leased to interest, rentals and 3 per cent dividend on pref. stock was $45,410 in
said oompany. None o f the new consol, bonds had been issued to Jan 1885, against $12,109 in 1883-84. (V. 41, p. 6 1 1 .)
1886. Gross earnings in 1883-84, $627,854; net, $181,764; deficit after
Chicago Sc A lto n .—L ine o f R oad —Joliet to East St. Louis
all interest and rentals, $74,684. In 1884-85, gross earnings, $826,967net, $364,010; surplus over all oharges, $99,385. Stoekr$2,578.000 ’ (main), 244 miles; Branches—To Coal City, 30 miles; Dwight to
Washington
A Lac’n, 80 miles; Roodhouse to Louisiana, 38 miles;
—(V .4 0 ,p . * 7 ; V .4 2 ,p . 2 1 .)
’
Upper Alton line, 8 miles. Total owned, 400 miles. Leased—Chicago
C h artlers.—Owns from Mansfield, Pa., to Washington, Pa., 23 m to Joliet, 37 miles; Bloomington to Godfrey, 150 miles; Louisiana
Sold under foreclosure, and reorganized in 1871. Leased for 99 years to Cedar City, 101 miles; Kansas City to Mexico, 162 miles. Total
from January 1, 1872, to the Pittsburg Cincinnati & St. Louis- the leased, 450 miles. Total operated, Deo. 31,1885, 850 miiAH.
rental is net earnings. Gross earnings in 1884, $164,079; net earnings
Or g an izatio n , L eases , Stocks an d B onds .—Chartered as the Chio.
$68,989; in 1885, gross earnings, $137,234; net, $45,556. Capital
A Miss., Feb. 27, 1847; reorganized under act of Jan. 21, 1857, as
Chio. Alton St. A Louis, and under act of Feb. 16, 1861, the present
Chesapeake Sc O h io.—(See Map).—Owns from Newport News, Ya
corporation succeeded to the property, which was sold under fore
to Big Sandy River, W. Va., 503 m.; o ld Point Junction to Phoebus, 8 m’- closure in the following year and transferred to new organization in
total owned, 511 m.; operates only 502 m. Consolidation of Virginia October, 1862. Chicago and St. Louis were connected by the present
Central and Covington & Ohio, and opened through March 1,1873. The line in 1864. The annual meeting is held the first Monday in April.
present company was organized in July, 1878, as successor of the Ches
The Joliet A Chicago is leased from January 1, 1864, for tho
& O., which was sold under foreclosure April 2,1878. The Elizabeth term of its charter, and forms part of the main line. Rental, 7
town Lexington A Big Sandy Railroad connects on the west with the per cent on stock.
The St. Louis Jacksonville A Chicago was
C. A O., and extends to Lexington, Ky.
leased in perpetuity from April 30, 1868, at a rental equal to 40 per
In June, 1886, this road was leased to the Newport News A Miss. Val cent of gross earnings until the amount reached $700,000, with a mini
ley RR. Co., which is formed to control the Huntington lines east of the mum of $240,000 a year, and th e' company in 1884 was merged with
Mississippi. Terms of the lease were not given out.
Chicago A Alton and its stock exchanged for C. A A. stock. (See V. 38,
The stocks including scrip outstanding were as follows December 31 p. 455.) The Louisiana A Missouri River RR. is leased for 1,000 years
1885: Common, $15,454,435, preferred stock—first, $3,362,803; second’ from August 1,1870. Rental, 35 per cent of gross earnings, but inter
$10,121,870. The second mortgage currency bonds till July, 1884, took est guaranteed on second mortgage bonds and preferred stock as
interest in 2d pref. stock, then for two years take partly in that stock and above; the other pref. stock is $1,010,000 and common $2,272,700;
partly cash, and afterwards all cash, if the earnings are sufficient, but gross earnings in 1884, (less taxes) $665,902. The Kansas City St.
“ all interest not paid in cash to be paid in 2d nref. stock.” The holders Louis A Chicago is leased to the Chicago A Alton company in perpetuity
of first mortgage “ B ” bonds cannot foreclose till six successive coupons from Nov. 1,1877. at a rental of 35 per cent of gross earnings, less taxes
are in default. The mortgage bonds of 1882 for $3,000,000 are secured and assessments. The bonds are held by U. S. Trust Co. as seourity for
on road from Newport News to old Point Comfort, Va., and terminal the C. A A, bonds of 1878 issued to build this road, and a sinking fund of
w ork s; and on a branch to be built in West Va. from Scary Creek to the $60.000 per annum provided for their redemption. Should the 35 per
Ohio Riv. First pref. stock has prior right to 7 p. c. from surplus; then 2d cent be more than sufficient to pay bond interest and 7 per oent on
f
BONUS
AND
S I OCRS
R A ILR O A D
1886.]
O ctober ,
3 6
INYESTOKS’
SUPPLEMENT.
[V ol .
XLIII.
Subscribers w ill confer a great favor by g iv in g Im m ediate notice o f a n y error discovered In tbese Tables.
DESCRIPTION.
on first page of tables.
Chicago <f>Alton—( Continued) —
St. Louis Jacksonville & Chic., 1st mortgage___
do
do
1st M. end. by Chic.* Altoi
do
do
2d M. endorsed by C. & A ..
do
do
2d mortgage (convertible)
La. & Mo., 1st M. ($439,100 assumed by C. &A.).
do
2d M. (int. guar. C. & A.)............ ........
do
guar. pref. stock..................................
INTEREST OR DIVIDENDS.
Bonds—Princi
Miles Date Size, or
pal,When Due.
Amount Rate per When
Par
of
of
Where Payable, and by Stocks—Last
Outstanding
Road. Bonds Value.
Cent. Payable
Whom.
Dividend.
150
37
37
150
101
....
162
Preferred stock, K. C. St. L. & C., guar. C. & A ...
Common took
do
..........................
—
Mississip pi Riv. Bridge st’k (7 p. c. guar, by C &A.
C. & A. bonds on Miss. Riv. Bridge, 1st mort., gol(
__
Chicago <&Atlantic—1st mort., gold, $ or &............
249
2d mortgage (for $5,000,000).................................
249
Chicago Burlington & Northern.—Stock.................. .
362
1st mort., redeemable at 105 and accum. int.......
362
Ten-year debentures.................................................
Chicago Burlington & Quincy—Stock.......... ............ 3,322
Consolidated mortgage coupon, (for $30,000,000) 825
Trust mort.on Iowa lines,coup.or reg.(s.f. 1*2 p.c.) 787
Bonds Denver exten. 4s, (sink, fund 2 per cent)..
Southwest Div. 4s, (s. f. lp .c .) ...............................
Debenture bonds for Han. & St. Jo. stock ..........
___
Northern Cross R. R. 2d. mortgage, g o ld ............
100
Trust mortgage (Burlington to Peoria).............
96
Plain bonds (coupon or registered)............. .
....
Bonds of 1895, (sinking fu n d)..............................
33
Dixon Peoria & Hannibal, 1st.)
40
Ottawa Oswego* Fox Riv., 1st 1 Coup., but may
70
Illinois Grand Trunk, 1st mort ( be registered.
44
Quincy & Warsaw, 1st mprt . . J
40
5s of 1901 (sink, fund) coup.................................
270
1864 $1,000
1864
1,000
1868
1,000
1868
1,000
1870
1,000
1,000
1877
....
100
1,000
1878
....
100
....
....
1877
1881
1883
1885
1886
1873
1879
1882
1881
1883
1860
1864
1872
1875
1869
1870
1870
1870
1876
$2,365,000
564,000
188,000
47,000
1,785,000
300,000
329,100
2,573,000
1,750,000
....
271,700
. ...
300,000
1,000
675,000
1,000
6,500,000
1,000
2,500,000
100
9,000,000
500 &c.
9,000,000
....
2,000,000
100 77,540,500
1,000 13,986,000
1,000 12,689,000
1,000
7,968,000
1,000
4,300,000
1,000
9,000,157
—
441,000
653,000
1,000
545,500
1,000
378,000
500 &e.
545,500
1,000
1,076,000
500 *o.
890,500
1,000
720,000
1,000
2,325,000
the stock, the excess is to go to the lessees. The Mississippi River Bridge
is leased in perpetuity from December 3,1877, at a rental equal to 7 per
cent on $300,000 stock and 6 per cent on $700,000 bonds.
The Chic. & Alton preferred stock has prior rignt to a non-cumulative
dividend not exceeding 7 per ct. from net earnings, and (after payment
of 7 on common) also shares with common in any surplus. Prices of
stock have been as follows: Preferred in 1881, 140® 153; in 1882,
130® 146; in 1883,140®150; in 18&4,142®152; in 1885,147®155; in
1886, to Oct. 2 3 ,150®162. Common in 1881,127®156; m 1882,127*a
®145*2; in 1 883,128®137*4; in 1884,118®140*4; in 18 8 5,128®140;
in 1886, to Oct. 2 3 ,138®146.
Dividends were as follows prior to the current y e a r: In 1877, both
stocks, 7*2 ; in 1878, both 7 ; in 1879, preferred 7, common 6 ; in 1880,
pref. 7, com. 6*2 ; in 1881 both 8 ; in 1882 both 8 ; in 1883 both 8 ; in
1884, botn 10; in 3 885, both 8, the periods being changed from semi
annual to quarterly in May, 18$4.
Operations and F inances .—The Chicago & Alton road has been par
ticularly strong in having a large local business between Chicago and
St. Louis, so that it was less dependent on through business, which is
done at competitive rates. Its leased lines are as completely controlled
as if owned, and the system is compact.
Operations, earnings, &c., have been as follows for four years past.
Fiscal year ends Deo. 31. Annual report for 1885 was in V. 42, p. 270.
7
7
7
7
7
7
3*3
6 g.
1*3
3*3
7
6
6 g.
6 g.
A. & O. N. Y., John Paton & Co.
A. & O.
J. & J.
J. & J.
F. & A.
M. & N.
do
do
F. & A.
M. & N.
do
do
Q .-F .
do
do
Chic., ni. Tr. & Sav. Bk.
Chic., Treasurer’s Office
A. <fe O. N. Y., John Paton & Co.
M. & N. Last paid May 1,1884
F. & A.
"None paid.
April. 1894
April 1, 1894
July, 1898
July, 1898
Aug., 1900
Nov. 1, 1900
Feb. 1, 1886
May l , 1903
Aug. 1, 1886
May 1, 1886
In 1885
Oct. 1, 1912
Nov. 1, 1920
Aug. 1,1923
5
6
2
7
4* 5
4
4
5
4 g.
7
7
5
8
8
8
8
5
A. & O. N. Y., Bk. of Commerce.
J. & D.
Boston, Office.
Q.—M. Boston and New York.
J. & J.
A. & O.
F. & A.
M. & S.
M. & N.
J. & J.
Frankfort.
A. & 0. N.Y., N. Bk. of Com’rce.
J. & J.
J. & D.
J. & J.
J. & J. New York and Boston.
A. & O. Boston, C. B. & Q. Office
J. & J. N.Y., N. Bk.of Comm’rce
A. & O. Boston, Co.’s Office.
April 1, 1926
Dec. 1, 1896
Sept. 15, 1886
July l , 1903
Oct. 1, 1919
Feb. 1, 1922
Sept. 1, 1921
May 1, 1913
July 1, 1890
Oct. 1, 1890
Jan. 1, 1896
June 1, 1895
July 1, 1889
July 1, 1900
Oct. 1, 1890
July 1, 1890
Oct. 1, 1901
work of lines in 111., Iowa and Neb. The main line extends from Chic.,
111., to Burlington, Iowa, 204 miles, and thence to Pacific Junction, 276
miles, and from Pacific Junction to Denver, Col., 577 miles, making the
distance from Chicago to Denver 1,057 miles. From Pacific Junction
to Council Bluffs is 18 miles (track used jointly with K. C. St. Jo. & C.
B.), making the C. B. & Q. line, Chicago to Council Bluffs, 498 miles.
Tne Exten s. to Denver was opened May, 1882. Besides numerous local
roads the company also has its line in Hlinois to East St. Louis, and to
Quincy, connecting with the Hannibal & St. Joseph road (purchased by
L. B. & Q. in 1883) across Missouri to St. Joseph. The mileage reported
at the close of 1885 was 3,646. In addition to this the company con
trols and largely owns the St. Louis Keokuk & N. W. road, 181*2 miles ;
the Kansas City St. Joseph & Council Bluffs, 313 miles; the Chicago
Burlington & Kansas City, 153 m iles; the St. Joseph & Des Moines, 50
miles; and a half-interest with Wabash in the Humeston & Shenandoah
road, 113 miles. The extension building to St. Paul is known as the
Chic. Bur. & Northern.
Org an ization , &c .—The C. B. * Q. was a consolidation in 1856 of the
Chic. & Aurora and the Cent. Military Track railroads, and purchased
in 1860 the Northern Cross RR. and in 1862 the Peoria & Oquawka road.
The present company was a consolidation »in January, 1875, of the
Chicago Burlington & Quincy in Illinois and the Burlington & Missouri
River in Iowa. In 1880 the Burlington & Missouri in Nebraska
OPERATIONS AND FISCAL RESULTS.
was absorbed. The leased lines are practically owned and there
Operations—
1882.
1883.
1884.
1885.
is
no charge for rentals in the income account, except as interest on
Passengers carried..
1,666,991 1,805,140
1,907,486 1,721,286
bonds.
The ownership in the other roads above-mentioned is in the
Passenger mileage .. 101,150,959 106,028,676119,946,417 109,078,875
stocks
and bonds thereof, and their accounts are kept separate. In
Rate $ pass. $ mile. 1-951 cts.
2-141 cts.
1-899 cts.
2-025 cts
In
April,
1883, the C. B. & Q. purchased the common stock of the
Freight (tons) moved 3,522,840 3,488,496
3,598,284 3,631,108
Fr'ght(tns) mileage* 474,823,908 549,369,534 602,768,054 538,522,498 Hannibal & St. Joseph RR., and part of the pref. stock and paid with
its
$9,000,000
of 5 per cent bonds at par. In August, 1885, the agree
Av. rate f) ton $ mile. 1-261 cts. 1-128 cts.
1-007 cts.
1-009 cts.
ment was made with the Chic. Bur. & No. for Hie line to St. Paul, and
Earnings— "
$
$
$
the
C.
B.
&
Q.
owns $3,000,000 of the stock of that Co.; see circular
Passenger....................
1,973,100 2,270,379
2,278,429
2,209,502
Freight.........................
5,948,123 6,197,681
6,073,675 5,432,633 in V. 41, p. 160. The fiscal year ends Dec. 31. Annual election in April.
Stocks and B onds.—The stock has been rapidly increased for the
Mail, express, & o ....
294,271
342,550
357,170
351,034
acquisition of new lines, and in 1880 a distribution of 20 per cent in
Total gross earnings
8 , 2 1 5 ,4 9 4
8 ,8 1 0 ,6 1 0
8 , 7 0 9 ,2 7 4
7 ,9 9 3 ,1 6 9 stock was made. Dividends have b e e n : In 1877, 9 per cen t; in
Total (incl. taxes)
4 ,6 8 4 ,5 0 2
5 ,0 9 7 ,0 3 2
5 , 1 3 3 ,7 9 0
4 , 6 1 2 ,8 4 7 1878, 10*2; in 1879, 8 ; in 1880, 9*4 cash and 20 stock; in 1881, 8 ;
in 1882, 8 ; in 1883, 8; in 1884, 8; in 1885,8. The prices of stock have
3 , 5 3 0 ,9 9 2
3 ,7 1 3 ,5 7 8
3 . 5 7 5 ,4 8 4
3 , 3 8 0 ,3 2 2 been: In 1881, 133*2® 182*2; in 1882, 120*3® 141; in 1883, 115%®
P.c.of op.exp.to earn
5 7 -0 2
5 7 -8 5
5 7 - 7 0 1293s; in 1884, 107® 127%; in 1885, 115*s®138*s; in 1886, to Oct.
5 8 -9 4
23, 128%®140.
’
o m p a n y ’s f r e i g h t
The C. B. & Q. on many of its branch lines gave a traffic guarantee of
INCOME ACCOUNT.
40
to
50
per
cent,
which
was
used
in
purchasing
their
bonds.
The
C. B.
1882.
1883.
1884.
1885.
& Q. 4 per cent bonds were issued against Rep. Valley and Bur. & Col.
Receipts—
$
$
$
3 , 5 3 0 ,9 9 2
5
per
cent
bonds
held
in
trust,
and
an
equal
amount
of
Rep.
Valley
stock
3 , 7 1 3 ,5 7 8
3 ,5 7 5 ,4 8 4
3 ,3 8 0 ,3 2 2
Other receipts...
3 3 2 ,5 4 7
2 8 4 ,7 7 3
2 7 8 ,8 1 8
2 7 2 ,8 4 5 scrip was also issued to subscribers to the bonds, such scrip being ex
changed April 1,1882, into Chicago B urlington* Quincy stock. The
T o t a l........ .
3 ,8 6 3 , 5 3 9
3 ,9 9 8 ,3 5 1
3 , 8 5 4 ,3 0 2
3 ,6 5 3 ,1 6 7 Kansas City St. Joseph & Council Bluffs and branches was purchased,
Disbursemenls$
$
$
$
254 miles, and the Chic. Burl. & Q. stock issued therefor at $125 per
1 , 1 2 7 ,5 3 4
1 ,2 0 8 ,2 7 7
8 2 3 ,5 6 5
7 0 4 ,4 7 3 share, taking the St. Jo. stock at $72 50 per share. Enough of the C. B.
’.'onstruc’n,equip.,&c
7 1 ,2 2 1
7 4 0 ,7 5 9
2 9 2 ,2 2 1
3 8 0 ,7 0 2 6 Q. consolidated mortgage is reserved to take up prior debts. The
interest on debt.......
7 6 1 ,1 2 2
7 0 0 ,5 4 4
7 7 0 ,6 8 3
8 3 9 ,3 0 7 bonds of 1876 for St. Louis Rock Island & Chicago Railroad are plain
1 , 0 8 3 ,0 8 0
1 , 1 9 4 ,1 8 4
1 , 6 4 6 ,8 4 0
1 , 4 0 9 ,7 5 0 bonds of Chic. Burlington & Quincy, offset by mortgage of like amount
9 7 ,9 4 0
Miscellaneous...........
8 6 ,9 6 3
8 8 ,2 6 3
9 3 i » 5 4 on St. Louis Rock Island & Chicago road deposited with trustees.
3 0 6 ,0 0 0
Jol. & Chi.b’ds red’d.
L and Gr a n t .—The lands were obtained by the consolidations with
Total disbursem’ts
Burlington & Missouri in Iowa and Burlington & Missouri in Nebraska.
416,642
Balance, surplus...
67,624
232,730
225,081 In Iowa only 16,412 acres remain unsold, and the contracts outstand
—(V. 40; p. 2 5 4 ,2 6 6 ; V. 42, p. 2 7 0 .)
ing Dec. 31, ’85, were for $662,733, principal and interest. In Nebraska
C hicago & A tla n tic .—Opened May 14,1883, from Marion, O.,on the net sales for the year 1885 were 36,903 acres, for $301,310, an
line of NTY. Pa. & O., to Hammond, Ind., 249 miles, and thence over average price of $8 11 per acre. Contracts on hand, $2,502,609; in
the Chicago & West. Ind. to Chicago, 19 miles. Built as a connecting line terest on contracts on hand, $504,761; unsold lands, 91,956 acres,
for N. Y. P. & O. and N. Y . L. E. & W., and both these companies guaran estimated at $1 per acre, $367,826.
Oper atio n s and F inances .—The Chicago Burlington & Quincy Rail
teed the gross earnings on business over their roads to and from the
Chic. & Atlantic, as security for interest on the bonds. Stock, $10,u00,- road has been one of the most profitable in the country, as its numerous
000, of which $9,000,000 was deposited with H. J. Jewett (then President branches tributary to the main line were built into choice agricultural
of N. Y. L. E. & W.), in trust to hold and vote on it. On*Nov. 1,1884, the I territory, where they enjoyed a monopoly of the local business at full
interest dne on 1st mort. bonds was defaulted. The 2d mortgage bonds rates. The company gives no full traffic statistics in its report, and the
were largely pledged for N. Y. Lake E. & W. loans, partly to Grant & mileage of freight ana passengers is not known; but corn is the most
Ward. In Feb., 1886, suit was brought by the Farmers’ L. & T. Co. to important article carried.
Gross earnings for eight months from Jan. 1,1886, were $16,602,275,
foreclose the first mortgage, and decision by Judge Gresham was in
their favor generally, though he did not then appoint a receiver (V. 42 against $16,410,106; net, $7,542,332, against $6,952,903.
p. 463.) inMay, 1886, Mr. Jas. H. Benedict was elected President. An
The annual report for 1885 was published in the Chronicle , V. 42,
outline of proposed foreclosure and arrangement with Erie was in (p. 516). Comparative statistics for four years are as follow s:
Chronicle oi July 31,1886, V. 43, p. 131 and 217. (V. 41, p. 272, 392
ROAD.
611, 720; Y. 42, p. 304, 338, 463, 604; V. 43, p. 131, 217, 308, 333.)
1882.
1883.
1884.
1885.
3,131
u m cag o B u rlin g to n & N orth e r u .—Roati extenus irom Miles ow’d and leas’d
3,224
3,369
3,534
Oregon, on the Chic. & lowa RR., and Fulton, on the C. B. <fc Q., in 111 Miles oper’d jointly.
98
98
• 98
113
to a junction near Savanna, 111., and thence u ptbe east bank of the
Total operated..
3 ,2 2 9
3 ,3 :2 2
3 ,4 6 7
3,647
Mississippi River to St. Paul. The road is constructed under C. B. & Q
OPERATIONS AND FISCAL RESULTS.
auspices, as per circular of August 1, 1885 (in Chronicle , V. 41 p.
1882.
1883.
1884.
1885.
160), and the mileage and stock and bonds are above given as they wiii
Earnings—
$
$
$
$
be when road is finished. The C. B. & Q. and Chic. & Iowa give a traffic Passenger.................
4,756,992
5,286,407
5,285,839
5,339,866
guarantee of one-half of their net earnings derived from business to and Freight...................... 15,711,510 19,514,161 18.014,432 19,565,854
from the C. B. & N., to be not less than $100,000 per year, for the pur Mail, express, &e___
1,682,304 1,310,369
1,704,164
1,629,315
chase of C. B. & N. bonds at 105; and after 1896 the bonds may ah be
retired at 105. The 10-year debentures must be covered by any 2d mort Total gross earnings 21,550,806 26,110,369 25,483,613 26,556,425
issued, and any such mort. must be limited to $10,000 per mile. {V 43
Oper. exp. & taxes 11,283,963 13,496,479 14,090,745 14,405,767
p. 125,217,308,334.)
'
’
C hicago B u rlin g to n & t|u m cy .—L ine op R o a d .—Tha c. B. & Net earnings. . . . . . . . 10,266,842 12,613,890 11,392,868 12,150,657
Q. is one of the most complex railroad systems in the U. 8. It has a net P.C. of op.ex. to earn
52-4
51-7
55-3
54-2
O c t o b e r , 1886.]
K AILR O a d ; s t o c k s a n d
bonds.
*8
INTESTOKS’
SUPPLEMENT.
[V ol.
X L n i.
Subscriber» w ill confer a great favor by g iv in g Im m ediate notice o f any error discovered In these T ables.
DESCRIPTION
Bonds—Princi
INTEREST OR DIVIDENDS.
Miles Date Size, or
For explanation of column headings, &c., see notes of
Amount
of
Par
Rate per When Where Payable, and by pal,When Due.
oh first page of tables.
Road. Bonds Value. Outstanding Cent.
Stocks—Last
Payable
Whom.
Dividend.
Chicago Burlington dt Quincy—(Continued)—
Quincy Alton & St. Louis, 1st mortgage, guar
46 1876 $1,000
$840,000
5
F. & A. N. Y.,Farmers’ L.& T.Co Feb. 1, 1896
Burl.* Mo. Riv., 1st on r’d dt400.000ac’s l’d j ÖD * 281 1863
50 &c
4,170,550
7
A & O. Boston, Co.’s Office,
do 1st M. on br.,C.B.&Q.stk.(5th ser.) > or"
Oct. 1, 1893
40 1869 500 &c,
72,500
8
J.
& J.
do Conv. bonds, C.B.&Q.stk.(6th ser.) ) re«
do
do
July 1, 1894
1870 500 &e,
154.000
8
J. dt J.
Burl. dt Mo. consol.M.for $14,000,000, s.f. $30,000 Ï9 Ï 1878 600 &c,
do
do
July
1, 1889
11,717,800
6
J. dt J.
do
Omaha & S. W., 1st M., guar____
do
do
July 1, 1918
49 1871
1,000
669.000
8
J. dt D. _
Burl. & Mo. bonds, s. f. for Atch. & Neb. RR. stock
do
do
June
1,
1896
1880
1,000
3.347.000
4
J. & J. Boston, N. E. Trust Co. Jan. 1, 1910
Nebraska consol, mort., guar.........................
133 1877
1,000
385.000
7
A. dt O. Boston, Co.’s Office,
Republican Yalley RR., sink, fund bonds '".'.'"'”
Oct.
148 1879
1,
1896
1,000
939.000
6
J & J.
Atchison & Nebraska. 1st mortgage................
do
do
Jan. 1, 1919
149 1878 lOO&c.
1.125.000
7
M. dt 8.
Lincoln & Northwestern RR. bonds.......... I.........
do
do
Mar.
72 1880
1,
1908
600.000
7
J. & J. Boston and New York, Jan. 1, 1910
Kansas City St. Jo. & C. Bl., m ortgage___"
274 1877 lOO&c.
5.000.
000 7
J. dt J.
Tarkio Val. and Nodaway Val. mortgages .
do
do
Jan. 1, 1907
62 1830
1,000
734.000
7
J.
dt D.
Chicago dt Canada Southern—
mort., gold.'” ."'.’ .
Boston.
June 1, 1920
67 1872
1,000
2.541.000
A.
&
O.
Chic. D etroit dt Canada Or. Trunk Junction —ist M
April
1, 1902
59 1859
100
1.095.000
I e- J. & J. London, England.
Chic, dt East.III.—Stock...............
302
100
3.000.
000 2^8 M. dt S. N. Y., Central Trust Co. July 1, 1884
1st M., coup. (s. f. $20,000 after ’8 5 ) " " ” ” ” ” ” . 123 1877 100 <fcc.
Sept.
1,
1886
3.000.
000 6
J. dt D. New York. 4th Nat. Bk. Deo. 1, 1907
2d mort, income (non-cumu.) conv. into consol " 123 1877 100 &c.
74,000
7
Dec.
Consol, mort., gold (for $6,000,000)___
N.
Y.,
Central
Trust
Co.
Deo.,
1907
238 1884
1,000
2.645.000
A. dt O.
C. & E. 111. Extension, 1st m ortga ge....
do
do
Oct. 1,1934
14 1881
1,000
193.000
I * J. dt D. New York,
Dan. & Grape Creek RR.—1st mortgage
4th Nat. Bk. Dec. 1, 1931
12 1880
1,000
158.000
6
M.
dt N. Boston, Globe Nat. Bk. May, 1920
Chicago dt Or. Trunk—IstM., $ A £ ($594,500 res’d) 330 1880 £100 &c
5,405,500
dt J. New York and London. Jan. 1, 1900
2d mort.....................................................
330 1882
1,000
6.000.
000 I e& J.
Northwest. Grand Trunk, 1st mort.
do
do
Jan., 1922
66 1880 500 &c.
594,500
6
& J. N.Y., E.P.Beach.B’way. Jan. 1, 1910
Chicago dt Indiana Coal—1st m ortgage....” .1*
120 1886
1,000
2.808.000
5
dt J. N. Y.. Met. Trust Co.
Chicago dt Iowa—1st mort., coup., may be reg"
Jan.
1, 1936
80 1870
1,000
600.000
8
& J. New York and Boston, Jan. 1, 1900
2d mortgage..................................................
80 1871
1,000
1,150,000
8
dt J.
1st mortgage C. R. & N......................................
do
do
Aug.
1, 1901
1875
250.000
8
A. & O.
2d mortgage C. R. & N .............................
July 1, 1895
1875
150.000
8
A. & O.
Chicago Milwaukee dt St. Paul—Com. stock ..” .
4 720
Oot.
1,
1895
100 30,904,261
2ia A. dt O. New York, Office,
Preferred st’ck (7 p.c. y’rly, not c u m u l a t i v e ) 4Î720
Oct. 18, 1886
100 21,540,900
3ia
A. dt O.
do
do
Consolidated mortgage (for $35,000,000)............. 1,435 1875
Oot.
18,
1886
1,000
11.470.000
7
J. dt J.
do
do
July 1, 1905
INCOME ACCOUNT.
SS®8, Chartered in 1869 and opened in 1872. In hands of a Receiver
Receipts—
1882.
1883.
1884.
1885.
Gr° 88 warnings for year ending Dec. 31,1885, were $491,046- net $198
S
Î
Â
S
X
Î
:
"
$
12’8i?>
?99
?ll,3?2,868i$12,150.657
Interest and exch ..
452,498
3241180
gS1^ V*84’ $552,080; net,’ $18s!759. C a f f i stoel;
566,769
592,432 $ 1 4 2 8 onnSea^
Net B. dt M. I’d gr’t..
1,329,725
1,595,788
O
n S S ì ™ 8,r<?ad ls controlled by the Chicago Burlington dt
1,129,591
985, ,96
Total income......... 12,049,066 14,533,858 13,089,228 13,728.885 Quincy and is used to connect with the Illinois Central.
Disbursements—
$
«
& s t * P * u l.-iiS 8 e M o ».)—L in e o f R o a d . $
$
=™°mpali7-°Perates a great consolidated system of railroads in Illinois
148,771 144,506
Rentals paid.................
139,604
187,171 tvi
Wisconsm, Mmnes°ta, Iowa and Dakota, whiclTare w e l l X w n o n t h e
Interest on debt........
3,883,789
4,093,005
4,304,284
4,294,263 accompânyingmâp.
The main through Unes are from Chicago to Mil®
Dividends..................
5,023,599
5,566,484 5,566,580 6,110,572
Rate of dividends...
8
8
8
8
Carried to sink’g f ’d.
631,443
646,430
938,064
646,430
Transf’dtoren ’a lf’d. __750,000
1,500,000
500,000
mverj¥±2
1,000,000 m ü e ^ O h i ^ Æ
Total disbursements 10,437,602 11,950,425 11,448,532 12,238,436
Balance,surplus.......
1,611,464 2,583,433
1,640,696
1,490,449
—(V. 41, p. 35,133,160, 231, 272, 341. 356, 527: V. 42. n. 60 387 447
506, 5 1 6, 631; V. 43, p. 66,162, 256, 274.)
P
’ 47’
C hicago & Canada Sou th ern .—Owns from Grosse Isle, Mich., to
Fayette, O., 67 miles. On Nov. 1,1879, it was transferred to the Lake
Shore dt Michigan So. It has a capital stock amounting to $2,667,400
ol
a
and a bonded debt of $2,541,000, and owes $2,223,051 overdue coupons
tlle.;Pra*r*e du Chien, the Lacrosse dt Milwaukee, and
Original cost, $5,176,557. It is a part of aproje<rted
between Cht PhipnCTrt
& 8t',.Eaif1 afterward purchased the St. Paul dt
£ ^ ° ^ d /> e t r o it Hiver, kdt failed m 1873. Gross earnings in 1885, ^
on F e b r u ^ i^ th? « 7An+hbmlt the> Utie,fro1m- Milwaukee to Chicago,
$40,974, def. under operating expenses, $19,601.
’ m?® fl)
i i „ i epruar^ U v ^ 87^’,
company took its present name, m e
Canada G rand J u n c tio n .—Owns from The fiscal year ends Dec. 31. The annual meeting is held early in June.
Port Huron, Mich., to_ Detroit Junction, 59 miles. Opened in 1859.
Stocks a n d B onds .—The preferred stock has a prior right over the
Leased to Grand Trunk of Canada. Earnings in 1885, $222 654 • net common stock to a dividend of not over 7 p. c. from net earffings in
$22,230; paid interest, $65,700, and dividend^ s e ^ - ^ u a l i v m ch 2
11 not earn®d
has no cumulative right. If a divifend
E f ^ t , $43 8 0 °; deficit, $88,571, advanced by’ l e " 3 k r t o c k
was earned in any year and not paid, there might be a claim on future
I ^ O O O . ^ J 8 f 8° a
° « * 1P nd for $691,141 issued to G years for such dividend. After payment of 7 on pref. iS d 7 on com
T. RR. Co. The road is owned by the lessees, but a separate organi both classes share pro rata. Dividends paid since 1873 have been™ s
zation is maintained m Michigan.
s
^ H ogs (prior to current year): In 1874, 7 on preferred paid in consol!
Chicago St E astern I llin o is .—(.See Map)—Owns from Dolton Til bonds, in 1875 no dividend; in 1876, 3*2 cash on preferred and 14 per
to Danville, HI., 107*2 miles; Covington, Ind., to Coal Creek Ind. 9 miles- ? ^ tamoL°nd8; m 1877’ 32% on Preferred; in 1878,10*2 on preferred;Pffi
Danville to Sidell’s, 23 miles ; leased, Dolton to Chicago (C & W I ) 17 i aa?’
S com m onand7 on preferred; in 1880,1881,1882,1883 and
miles ; Wellington Junction to Cisua Park, 13 mUes ¡E vansville T erre 1885’ ^ 011 hoth; in 1885, 4 on common and 7 on preferred.
Haute & C. RR., Terre Haute to Danville, 111., 55 miles ; Otter Creek to q .^he range in price8_oi stocks since 1877 have been: Pref. in 1878,6 4 a
Brazil, Ind., 14 miles ; Danville, 111., to Covington, Ind. 13 miles1 ?a ^ i
1880, 99@124*8; in 1 881,116%®140; in
total operated, 253 miles. The leases of 17 miles, Dolton to Chicago
h1 1883,115®122*4; in 1884, 957«® 119 • in 1885
« « ? ~ 3 “ ÿ 68»
to Covington, are contracts for use of track over
188cFroads‘ Tbe Evailsville Terre Haute & Chicago was leased May
The Chicago & East Illinois was chartered as Chicago Danville &
ym cejm esm 1 8 6 5 , and openedm 1 8 7 2 and 1 8 7 3 . Bold imder foreclos
ure Feb. 7 , 1 8 7 7 , and reorganized under existing style Sept. 1 1 8 7 7
A c o m o I. mortgage for $ 6, 000,000 was authorized, of which $ 3 , 4 2 5 000
is held to retire prior issues. Under the terms of leases the C & e " 111
guar, interest on $ 1 , 5 1 5 , 0 0 0 bonds of leased roads.
c S o N T O L E fY T s S .^ o !16 fl8Cal yCar endins June 30’ 1886’ was in the
INCOME ACCOUNT.
1882-83.
1883-84.
1884-85.
1885-86
Receipts—
$
$
$
Gross earnings.................. 1,759,132 1,560,320 1,600,143
1,724,564
Net earnings..................
770,190
662,959
644,598
713,007
Other income.....................
.........
98,824
Total net incom e............ 770,190
662,959
644,598
811,831
Disbursements—
Rentals p a i d ................... 199,668
188,750
212,427
211,512
Interest on debt................. 263,774
263,781
301,410
336,690
Dividends (2*2 per cent)....................
75,000
Miscellaneous....................
13,862
21,287
27,780
4,595
Total disbursements.. 477,304
473,818
541,617
627,797
Balance, surplus............... 292,886
189,141
102,981
184,034
—(V. 42, p. 124, 215, 271; V. 43, p. 102, 398, 4 3 0 .)
* „S £ ?ca ffo * 9 r a ?l d T r u n k . —Line of road from Port Huron. Mich
to Chicago, 330*2 miles; also uses 4*2 miles of Chicago & West. Indiana
and 4 miles Grand Trunk Junction RR.; total operated, 339 mUes This
is a consolidation of roads between Port Huron and Chicago formed in
April, 1880, under the control of the Gr. Trunk of Canada. It includes
the former Port Huron & Lake Michigan and the Peninsula roadsfsold in
foreclosure. S to cV $6,600,000 in $100 shares. The Grand T M t $
Canada gives a traffic guarantee of 30 per cent of gross earnings on
for 1885 W
S
3 ™ * E° ad- G r o s ^ S i g s
$456fl8455 $2(V.84b!p° 3373 $385,553 deflcit under M erest and rentals,
C hicago & In d ia n a Coal.—Line of road, Fair Oaks, Ind.. to Yeddo, and thence to Brazil, 119 miles. This company acquired at f oreclosn?5?bSnn0 f 1C' & G^ at Southern. The 1st mort. bonds authorized
are f 1.000,000 for the line under construction between Yeddo and
««n on 4
$ l 8>00 0 Per mile for single track road acquired; and
$8,000 additional for double track, and $7,000 per mfie for eauipment
The stock authonze/I is $6,000,000 common and $4,000,000 preferred*
o f which $1,800,000 com. and $1,200,000 pref. has been issued. H h ’
Porter, President IV. 42, p. 242, 430, 487, 775; V. 43, p. 66.)
’
C h icago dc I o w a .- Owns from Aurora, HI., to Foreston, H I . 80
mUes; leased, Flagg Centre to Rockford. 24 miles; total operated, 104
.2 1 the consolidated mortgage bonds of 1875, enough were reserved to
take up the pnor bonds. The latter had a sinking fund of 1 percent
POTannum, but holders may have their bonds stamped and discharged
from the operation of the sinking fund. The Chicago & Pacific Western
miPwi0n i^Jds are issued at $20,000 per mile on new lines built or aoW p d . The Iowa & Minn. Div. bonds are convertible into preferred
stock. The terminal bonds issued in 1884 are secured by mortgage on
the terminal property m Chicago and Milwaukee, subject to the8lien of
the general mortgage so far as that covers these terminals. The lands
f ^ ^ h d by the company have Deen mainly closed out, and in
w if e vii6/! Td £ rant, aad income bonds were issued against the land
^he stock of the Fargo dt Southern road was
purchased, and the bonds assumed. In addition to the bonds given in
n m i’^b^ the^ are |89»000.Hastings & Dak. 7s, due in 1902, and $35,000
Ohio & Miss. River 8s, due in 1891.
Op? ra tio n s ’ F inances , &c.—The mileage and also the stock and debt
Q0rSpani mcreased very rapidly in four years, the miles owned
t i ;“ ?,2 v 59
Ja**uar/ 1» 1880, against 4,92 L on January 1,1886, and
i« « n
*0^ o eo,d_e5t. m round figures, $69,000,000 on January 1,
1880, against $153,915,161 January 1,1886. The company’s income
depends on the success of the large extent of new mileage, on which the
traffic is gradually built up, and also depends much each year on the
spring-wheat crop in the country adjacent to its lines.
For the half-year ending June 30, 1886, a report was given in the
Ch ronicle of Oct. 23 (V. 43, p. 475), showing gross earninvs of $10 637 876 against $ 10 ,6 1 !’959 in 1885; net earnings, $3,500,711, against
$86^ 3(7) ’ and surplus applicable to dividends $430,958, against
The annual report for 1885 was in V. 42. p. 363. The statistics in de
tail were given in the Chronicle , as follow s:
OPERATIONS AND FISCAL RESULTS.
1882.
1883.
1884.
1885.
Miles operated..........
4,520
4,760
4,804
4,921
Operations—
Passengers carried..
3,956,814 4,591,232
4,904,678
4,819,187
Passenger mileage 200,790,926 235,579,660 225,851,443 214,550,187
Rute per pass. p. mile.
2;58cts.
2-52 cts.
2 55 cts.
2-56 cts.
Freight (tons) moved. 5,127,767
5,661,667 6 023 016 6 482 869
Freight (tons) mil’ge.945,250,159 1176605032 1247737233133772i;453
Av. rate p. ton p. mile.
1 -48 cts.
1-39 cts.
1’29 cts.
1’28 cts.
Earnings—
$
$
Passenger................... 5,179,078 5,927,668
5,766,843
5,4997737
Freight..............
14,002,335 16,365,354 16,128,964 17,101,742
Mail, express,&o....... 1,205,313
1.366,802
1,575,191
1,811,794
Total gross eam’gs 20,386,726 23,659,824 23,470,998 24,413,273
bonds.
an d
stocks
r a il r o a d
30
INVESTORS’
SUPPLEMENT.
[Y ol.
x l iii.
Subscriber» w i n confer a great fa v or b y g iv in g Im m ed iate n otice o f a n y error discovered in these T a bles.
DESCRIPTION.
INTEREST OR DIVIDENDS.
Rond»—Princi
Miles Date Size, or
Amount Rate per
For explanation of column headings, &c., see notes of
.When Due.
of
par
When Where Payable and by pal
Outstanding
on first page of tables.
Stocks—Last
Road. Bonds Value.
Cent. Pay’ble
Whom.
Dividend.
Chic. Mil. <£ St. Paul—( Continued) —
1st mort. ('Lacrosse D iv .),...................
370 1863 $1,000 $5,279,000
J. & J.
New York Office.
lstm ort. (Ia. & M .).........................
1893
230 1867
1,000
3.198.000
J. & J.
do
do
1st mortgage (Minnesota Central)___.
July, 1897
49 1864
1,000
123.000
J. & J.
do
do
1st mortgage (Iowa & Dakota)............
1894
126 1869
1,000
541.000
J. & J.
do
do
1st M.,Ia.&Dak.Ext.($15,000 p.m.)__
1899
234 1878
1,000
3.505.000
J. & J.
do
do
1st mortgage (Prairie du CMen)..........
July 1, 1908
195 1868
1,000
3.674.000
F.
&
A.
> do
do
2d mortgage (Prairie du CMen)..........
1898
195 1868
1,000
1.241.000
F. & A.
do
do
Milwaukee & Western............................
1898
1861
1,000
215.000
J. & J.
do
do
1891
St.P.&C.lst M.(Riv. D.)$<fc,£(conv.)__
130 1872
5 .
3.804.500
&
J.
London
and
New
York. Jan., 1902
1st M., CMc. & Mil. line...............................! 8s i
85 1873
1,000
2.393.000
&
J.
New York, Office.
1903
Bonds on Lac’se &Dav. Div., for Dav. & Nw. RR. 185 1879
2.500.000
& J.
do
do
1919
1st mort. on 8. W. Div. Western Union R R ........... 212 1879
T,oöo 4.000.
000
& J.
do
do
July
1, 1909
1st mort. on CMc. & Pac. Div., CMc. to Miss. Riv.. 119 1880
1,000
3.000.
000
& J.
do
do
Jan. 1, 1910
1st mort. on So. Minnesota Div. ($9,000,000)....... 419 1880
1,000
7.432.000
& J.
do
do
Jan.
1. 1910
Land grant income bonds.........................................
238.000
& J.
do
do
1890
Land grant and income bonds.................................
1883
1,000
1.638.000
& J.
do
do
Jan.
1, 1890
1st mort. on Hastings & Dakota Div. extended .. 336 1880
1,000
5.680.000
& J.
do
do
Jan. 1, 1910
1st M. on CM Cl. D. & M........................................... 372 1880
1,000
6.643.000
& J.
do
do
July
1,
1920
1st mort. on Wisconsin Valley R R ......................... 107 1880
1.683.000
J. & J.
do
do
July 1, 1920
Prior mort.
do
......................... 107 1879
500
1.106.500
& J.
Boston.
Jan.
1,
1909
1st mortgage, Mineral Point Division................."
142 1880
1,000
2.840.000
& J.
New York, Office,
1910
1st mortgage CMc. & Lake Superior Div.,.............
68 1881
1,000
1.360.000
& J.
do
do
July
1,
1921
IstM.Wis. & Minn. Div. ($20,000 p. m .)............... 230 1881
1,000
4.755.000
& J.
do
do
July 1, 1921
1st M., gold, on CMc. & Pac., W. Div., $20,000 p. m. 927 1881
1,000
20,680,000
&
J.
do
do
Jan.
1,
1921
Income bonds—On Bridge at Kansas C it y ..........
1,000
1886
2,00',000
& J.
do
do
July 1, 1921
Terminal mort., gold, coup. orreg.(for $5,000,000)
1884
1,000
4.000.
000
& J.
do
do
July 1, 1914
Fargo & Southern, 1st mortgage, gold, assumed.. 119 1883
1,000
1.250.000
&
J.
do
do
Jan. 1, 1924
do
incomes.................. *....................
1885
200.000
A. & O.
do
do
Chicago <6Northwestern—Common stock............. 3.763
Too 31,365,900
I. & D. New York, Co.’s Office, June 1895
25,1886
Preferred st’ck (7 p. c. y ’rly, not cumulative)........ 3.763
100
22,325,454
Q .-M .
do
do
Sept. 23,1886
Consol, sinking fund M............................................ 776 1865
1,000
12,651,000
Q.—F.
do
do
Feb.
1, 1915
Madison extension, 1st mort., sinking fund, gold.; 126 1871 500 &c.
2.977.500 I
A. & O.
do
do
April 1, 1911
1882.
1883.
1884.
1885.
®TPCK and B onds.—Of {he common stock, $10,007,116 was held in
Operating expenses$
$
$
$
+airea! U7 on r,iajr 31.1886. and is presumably held there
Maint’nce of'way*... 2,479,429
2,548,609
2,339,635
2,551,327 » ¿ M S » S
^ h° l6, common stock listed at the Stock Exchange
Maint’nce of equip’t.
1,999,504 2,489,257
2,574,437 2,430,809 $41,374,866. Preferred
stock has prior right to 7 ner cent,- then
Transp’rt’t’n exp’n’st 7,023,918
8,011,533
8,646,132
8 , 102,668
t0 7 ; tllen0 Preferred hasga furtherPprior ri’ght to
Taxes ........................
589,613
614,609
702,060
733,545 3° ^ ™ t eiii,tledC01imi0.n
to
3 ; then both classes share. But the pre
Miscellaneous...........
93,609
114,029
140,829
150,658 ferred stock has not yet received
more than 8 per cent in anv year
7
?
er
cent
paid
on
the
common. Dividends since 1875 (prior t o
Tot. operating exp. 12,186,073 13,778,037 13,859,629 14,512,471 the current year) have been: In
1876,
2Lj onpref.; in 1877 3 io onnref ■
9,881,787
9,611,369
9,900,802 ^ l|78, 7 on pref. and 5 on com.; .in 1879,
Net earnings.......... ... 8,200,653
7 on p ref aAd’ 5 on om •
Pr. ct.op.ex. to earns
59-77
58*23
59*05
59*45
pr?f - a^ 6 011 C0EQ*;. la l8 8 1 >7 on pref. and 6 on com.; in
* Includes renewal of track, t Including elevators, stock-yards, per
in8?
pref*
and
7
o
n
com.;
in
’83
and
’84,7
on com. and 8 on pref.
sonal injuries and damages to property, legal, insurance, rent of oars, &c. in 1885, 6*2 on common and 7*2 on preferred.
v
INCOME ACCOUNT.
®tock since 1877 have been as follow s: Common in 1878,
„
1 ,
1882.
1883.
1884.
1885.
32*2^5544; m 1879, 495s®941a; in 1880. 873e®130; in 1 881.117@136*
Receipts—
$
$
$
*
in 1 882,124®150%; in 1883,
inl884, 81-12'®124* in 1885*
Net earmngs............. 8,200,653 9,881,787
9,611,369
9,900,802 84%®115%; in 1886 to Oct. 2 3 ,10434@119:14. Pref. in 1878,59%®79ig
Other receipts..........
623,814
164,707
82,307
105 939
1879, 7678®108; in 1880, 1 0 4 ® i n 1881, 131
in
o8i832d7136® i q q 1^ 8? ’01034®157; in 1884,117® 1 4 9 in 1885,119%
Total income . . . . 8,824,467 10,046,494
9,693,676 10,006,741 ®13978; in 1886 to Oct. 2 3 ,135®144.
Disbursements—
$
$
The sinking fund bonds of 1879 are secured by a deposit of mort.
Interest on debt....... 4,786,054
5,373,925
5,918,608
6,096,573 bonds, on the new roads acquired at the rate of $15,000 per mile, and the
Divs. on both stocks* 2,461,042
3,212,895
3,321,167
2,394,039 terms under wMch these are issued were published in V. 29, p. 277.
7
Rate of dividend.......
7
7
7 on p; 4 c. Of these bonds so far issued, $6,305,000 are 6s and the balance
There are several small issues of bonds in addition to those in
Tot. disbursem’nts
7,247,096 8,586,820
9,239,775 8,490,612 the table aboye, viz.: Beloit & Madison RR., $91,000. 7s, due 1888 •
Balance for y e a r.... 1,577,371 1,459,674
453,901
1,516,129 Minnesota Valley RR $150,000, 7s, due 1908; Plainview, $100,000’,
* A portion of these dividends was stated as payable out of the earn 7 ™ ^ f A aaK nnorS8ii la Natooad (Mich.), $152,000 7s, due 1898.
lh e $10,000,000 debenture bonds were issued to pav for the CMcago
ings of the previous year, as follow s: In 1882. $1,218,201; in 1883
$1,552,311; in 1884, $1,660,584, and in 1885, $1,042,498.
? t^ ll^ A nneapoli8 £. 0 nlalia 8t00k 5the sinking fund for these bonds
is
$200,000 per year from May, 1888, if they can be redeemed at 105.
GENERAL BALANCE AT CLOSE OP EACH FISCAL TEAR.
In June, 1884, the new issue of $6,000,000 5 per cent debenture bonds
. ,
1882.
1883.
1884.
1885.
was
authorized, of which $1,966,500 went for the purchase of Blair
Assets—
$
$
$
*
and the balance to be used for improvements as required.
Anv
Railroad,equipm’t& cl38,015,099 146,093,665 149,426,734 154 228 775 roads
totiire
on the property of the company owned at date of these
St’ks& b’ds own.,cost
768,846 1,161,980
1,228,283
’ 754792 bonds, mortgage
shall mclude them.
Bills&acc’ts rec’able
2,616,295 1,550,232
1,146,059 1 452309
The C. & N. W. exten. bonds of 1886 are direct bonds of the C. & N.
Materials, fuel,& o... 1,495,113
1,223,043
1,483,365
1,543,217 W. Compauy, secured by the deposit in trust of the 1st mort. bonds of
Cash on hand............
2,969,732
3,048,965
2,971,133 4,262,378 roads
constructed or acquired, at the rate of $20,000 per mile.
111. & Iowa coal lands
689,578
944,132
680,475
617,026 . ^ a d d ition to bonds in above table there were live bonds in the sink
Cash due on st’k subs
..........
ing fund amounting to $969,500 May 31,1886.
L an d G ran t .—The lands of the company have been acquired by the
Total assets........... 146,554,663 154,022,017156,936,049 162,858 497
Liabilities—
$
purchase of the Winona & St. Peter and other roads that have been
$
Stock, com mon........ 27,904,261 30,904,261 30,904,261 30 ,904,261 consolidated. The Commissioners’ report for 1885-86 showed that the
Stock, preferred....... 16,447,483 16,540,983 16,540,983 21 ,540,900 total consideration for the lands and,lots sold in that year amounted to
Funded debt ............ 89,635,500 96,272,000 100,254,000 101 ,470,000 $806,855. Net cash receipts were $068,688. The statement of amounts
All other dues&acc’ts 4,943,872
1,711,099
2,093,163
164,958 secured to be paid to the company by outstanding contracts of sale in
Unpaid pay-rolls, &c. 2,216,630
1,732,687
1,610,661
1 ,729,269 force at the end of the fiscal year showed a total o f $1,209,502.
Land department...
1,787,509
1,781,907
TABLE OF LANDS UNSOLD FOR TEARS ENDING M AT 3 1 .
Income account....... *3,619,408
Name of grant.
1883
1884.
1885
5,079,080 5,532,981 7,049,ÌÒ9
1886.
Minnesota........ 784,532
685,577
626 811
574,362*
Total liabilities.. 146,554,663 154,022,017 156,936,049 162,858,497 MicMgan.......... 485,677
461,847
443 296
420,428
308,723
303,165
* $3,550,974 of income balance applied towards payment for 71010 W isconsin........ 320,125
299,041
shares common stock issued to shareholders at 50 cents on the dollar.
Total...........
1,590.334
1,456,147
1,373,272
1,293,831
-‘-(V. 40, p. 195, 213, 322, 3 3 5 , 393, 480, 716; V. 41, p. 341 382 309
Operation s , F inances , &c.—The CMcago & Northwestern Railway
has pursued the policy of extending rapidly its lines, including those
487*, S 8 j TOs!
H p- 155' l i g *u * 363’*
reachingfar
to Dakota, and since 1879 has raised its money in
& N o r t h w e s t e r n .—f See M ap.)—L ine of R oad—The Chic great part bywest
the sale of 5 per cent bonds. The stock had not been
& Northw. operates 3,949 miles of its own roads and controls 1,339 miles much
increased until tho issue of new stock for stocks of proprietary
& Ouaaha, 503 miles of Fremont Elbhorn
and a large nominal surplus has been rolled up, amounting to
& Mo. Val., and 107 of Sioux City & Pac.; total controlled, 5,899 miles roads,
$32,000,000, against wMch there are no liabilities.
lh e mileage is extensive, and is shown clearly in the accomnanvin» about
The latest annual report (1885-86) was in the Chronicle , V. 43, p.
-T1ie maui 11116 from Chicago to East Omaha, Iowa, is 492 miles’
and this forms practically the southern boundary of the whole system’ 130. The following were the earmngs, expenses, &c.:
OPERATIONS AND FISCAL RESULTS.
the company haying notMng to the south of that line, with the exceD1?®i? nllioailt branches. At the end of the fiscal year, May
1882-83.
1883-84.
1884-85.
1885-86.
3,584
3,763
3,843
I?
I ii Ctu6- & Northwestern mileage was made up in the annual Tot. miles oper’d
3,948
report as follows ^Wisconsin Division, 555 miles; Galena Division 400
Operations—
miles ; Iowa Division, 743 miles: No. Iowa Division, 369 miles; Madison Pass’gers carr’d.
7,968,560
8,623,483
8,403,884
9,140,195
•ini?8’ 011’ 483 miles; Peninsula Division, 369 miles; Winona & St Peter Pass germileage 248,856,303 256,386,389 231,090,788 239,150,020
“ toes ? Dakota Division, 570 m iles; total, 3,949 miles. In R’te p.pass.p.m.
2*46 cts,
2*40 cts.
2*38 cts.
2*36 cts,
Fr’ght(tns) my’d
7,874,665
8,453,994
8,235,127
nSK ’v i at ’
p
F^“ ads* previously leased,were acquired by purchase
8,494,239
®10ux City & Pacific and Fremont Elkhorn & Missouri Valley are Fr ght (tns) nrgell83,829,358 1350,173,773 1416,789,205 1466,892,717
_
tnn tï
m.
1 cts.
aIh
1
»Q1 ncts
ia
t .i a cts.
.,.
,1*19
n1cts.
operated separately (610 miles) and their earnings not included in those PatAT«*
Rate pr.ton
p.m.
1*42
1*31
1*19
Earnings—
$
$
$
$
icle
reports in the CHKON- Passenger..........
6,119,616
6,153,071
5,498,111
5,646,150
17,677,866
16,917,394
17,503,244
ORGANiZATiON, &C-—The Chicago St Paul & Fond-du-Lac Railroad Freight............. 16,894,352
1,067,867
1,189,687
1,086,551
wMch was a conscfiidatMn of several roads, was sold in foreclosure Mail, express,&c
1,130,206
June 2,1859, and the CMcago & Northwestern Railway was organized
Gross earn’s. 24,081,835
25,020,624
23,502,056
24,279,600
Ia 18641?6 company absorbed the Dixon Rock &
Expenses—
$
Kenosha, the Gal. & CMc. Umon and the Peninsular RR. of Michigan
$
3,372,994
3,590,917
2,939,253
and has since absorbed by consolidation a large number of other roads’ Maint’ce of way
2,986,955
“
cars, &G
2,322,099
2,448,297
2,193,224
including those which were operated as “ proprietary roads.”
2,219,211
8,429,121
7,970,502
..^ D e ce m b e r, 188?.> a controlling interest was acquired in the stock of Transp. & miscel 7,758,638
7,950,608
618,785
672,621
690,928
the Chic. St. Paul Minneapolis & Omaha Co. by the purchase of 53 800 Taxes.................
702,452
shares of preferred and 93,290 shares of com. stock.
T
otal..............
14,072,516
15,140,956
13,793,907
13,859,226
In July, 1884, the leased lines in Iowa (Blair roads) were acquired
on the terms stated in the Supplement of June, 1885, and prior issues Net earnings---- 10,009,319
9,879,668
9,708,149 10,420,374
The fiscal year ends May 31. The annual meeting is held early in June' P.c. exp. to earn.
58*44
60*51
58*69
57 08
32
INVESTORS’
SUPPLEMENT.
[Voi*. XLIII,
great favor by g iv in g Im m ediate notice o f any error discovered in these
T a b les*
INTEREST OR DIVIDENDS
Miles Date Size, or
Bonds—Princi
For explanation of column headings, «fee., see notes of
Amount
of
Par
per When Where Payable, and by pal,When Due..
on first page of tables.
Road. Bonds Value. Outstanding Rate
Stocks—Last
Cent.
e
Whom.
Dividend.
Okie.A Northwest.—(Continued)—Chic <fe Mil.,1st M
85
$
1,000
$1.700,000
7
Menominee River, 1st mort., guar...................
. New York, Co.’s Office. July 1, 1898
25 1876
560.000
7
Menominee extension, 1st mortgage,' gola
do
do
120 1871
&c
July 1, 1906
2.549.500
Gen. cons mort.. gold, coup, orreg. (^8,000,000) 1,058 1872 50Ò
do
do
Z g«feo 12.343.000
June 1, 1911
Winona & St. Peter, 1st mort., guar by Cnic.&NW, 137 1870-1 500
do
do
1,000
Deo.
1, 1902
1.276.000
J.
do
2d mort., guar, by Chic. <feN. W
do
do
137 1870-1 1,000
Jan. 1, 1887
1.592.000
7
M. <fe N
do
r
,,.4 ? „ , 1st M. exten. gld., land gr., s. f .
do
175 1871 100 «feo.
Nov. 1, 1907
4.079.500
J. <& D
Iowa Midland, 1st mort., guar, by Chic. <&N. W.
do
do
75 1870
Deo. 1, 191®
1,000
1.350.000
I e * A. & O,
Northwestern Union, 1st mortgage, g o ld ........
do
do
62 1872 500 &c.
Oct. 1, 1900
3.365.000
M.
«fe
S
Rochester & No. Minnesota, 1st mortgage " I ! " !
do
do
24 1878
June
1, 1917
200.000
? g* M. «& S
Chic. Mil. & N. W., construction bonds.............
do
do
Sept. 1, 1908
601.000
6
M. & N
Chicago & Tomah, 1st mort., guar..................... ]
do
do
Nov.
1.
1905
1.528.000
6
M. <fe N,
Milwaukee <feMadison. 1st mort., guar.! I! .........
do
do
80 1880
1905
1,000
1.600.000
6
M. <fe S
do
Sink, fd.bds. (1st M. as collateral) ($15,Oo6’p! m.)*
do
Sept.
1,
190»
1879
1,000
14.665.000
5 & 6 A. <fc O
do
S. f. debenture bonds (for C. St. P. M. & O. stock)
do
1883 l,000«feo 10. 000,000
Oct. 1, 19295
M. <fe N
Debenture bonds of 1909 (for $6,000,000)
do
do
May 1, 1933
1884 l,OOo«fec 3.869.000
5
M.
<
&
N.
do
C.&N.W. Exten. bds. ($20,000 per M.) cp. & reg'
do
Nov. 1, 1900
1886 l,000&c
4.385.000
4
F.
<
fe
A,
do
Ottumwa C.F.& St.P., 1st M., guar. ($25,000 p.m.j
do
1884
Aug. 15,192®
1,000
1.600.000
5
M. «& S.
Des Moines & Minneapolis RR. 1st mort. Bonds..
do
do
Mar. 1, 1900
1882
1,000
600,000
7
F. «fe A.
Escanaba & Lake Superior RR., 1st mort
do
do
Feb.
1, 1907
1881
1,000
720.000
6
J. «fe J.
Dakota Central RR., 1st mort................**"’
do
do
July 1, 1901
1.007.000
6
M.
«fe
8.
do
— <1®
1st M.. Southeast Div. (for $2,000,000)!
do
Sept.
1,
1907
2,000,000
6
M. «fe N.
North. 111., 1st M. ($20,000 p. m.) guar. C &N. W.
do
do
75 1885
Nov. 1, 1907
1,000
1.500.000
5
M. «fe S.
Utner small issues (see remarks on precede page)
do
do
Mar.
1,
1910*
493.000
Cedar Rapids & Missouri River, 1st m o r t.? ....... ”70 1861 500 Ac.
do
do
700.000
*7*
F. «fe**A.
do
4°
1st mort........!!!
do
58 1863 500 «fee.
Aug.
1,
1891
582.000
7
F. «fe A.
do
_
do
1st mort.............
do
146 1866 500 «feo.
Aug. 1, 1894
2.332.000
7
M. «fe N.
Chicago Iowa <feNebraska, mortgage.
do
do
82 1863 500 &o.
May, 1916
129.000
7
F. <& A.
Maple River 1st m ortg...
.............
do
do
Aug. 15,1892
402,500
7
J. «fe J.
do
Fremont Elkhom & Mo.Val.,Consoi.bonds!” ! ” ”
do
311 1883
July 1, 1897
1,000
7.725.000
6
A.
<
fe
O.
do
, , do
do
equipment bonds.................. 1
do
Oct. 1, 1933
401.000
6
do
Mo.V.&Blair RR.Br’ge, 1st. red’ble aft.’93............
do
1883
1.000,000
6
«fe J.
Sioux City & Pacific, 1st mortgage........ ............. .1 102 1868 500&0.
do
do
Jan. 1, 1923
1.628.000
6
Jan. 1. 1898
INCOMB ACCOUNT.
I 8*2 cash and 100 per cent in
1882-83.
1883-84.
1884-85.
1885-86 and 1885,7. ~
Receipts—
$
8825«a ,
¿reSSt
ioUow^allSi 1876?’^ ?iqqa
®,1i
Net earnings.... 10,009,319
9,879,668
9,708,149
10,420,374 io77, 8 2 ^ ® 1 0 o^ j in 1878» 983r®122: in 1879
Disbursements—
$
Rentals p a id ....
1,570,948
1,568,704
*28,567
Interest on debt
4,288,633
4,527,235
*5,064,534
5,536,363
Dividends..........
2,890,337
2,939,469
*3,981,348
3,444,504 , T£e ™adfrom Minneapolis west to the June, with Bur C R «feN lin»
Rate on pref. . . .
8
8
™ ^ alle8,A Ì bli£ t u?der the charter of the Wisconsin Minn ^& Pan
8
7
Rate on comm’n
7
7
Pt« h ^ Ì T ! d hyt tb2 olÌ territorial Legislature. The W. M & P Co issu ^
7
6
Miscellaneous..
98,120
83,000
58,000
$*20*000 per
nei1mile,
mnAf<^
0
6 per
oent
at the rate of
58,000 $20,000
of 5which $5,000
per
mile
is interest,
for eauinmenV
Tot. disb’m’ts. $8,848,038
$9,118,408 $9,132,449 $9,033,867 S ' ì ì ! u S Ì 7 g S f t h ? S i f
J cJ*
Balan
_____ oe, surplus $1,161,281
$761,260
$575,700 $1,381,507 “ llPo , ^ b S S w I 5 S rIS
fl» .0 0 0 p e r
^e’ltol, » ^
‘“ llntenat and
iooA o
o
o
TXU5» IUU > 04 mnes, was comr
* rni?i000*ln 8.imdar collateral trust bonds issued.
OO^OOO^Wor^h8
«
A6ria -1? 88 ° / similar collateral trust bonds'for $10*- .
Other c«f* W- —Road '&equip.. $102^710^425 $126®853^870 $126?90l 024
GENERAL balance a t close o p each fiscal t e a k .
g K a ^ r c ^ c a g ? 0...
‘» « J g
Bonds owned............................
Stocks owned............................
Land grant investments........
Bills and accounts receivable.
Materials, fuel, «fee........
Cash on hand.....................I” .
Trustees of sinking fund.......
508|026
20,323.343
730,000
1,192,626
2 nos «y»a
l 964 698
1,730,002
35>53?;?34 **§
200,000
c ^ S K 8'2 i f t g S L 0K * ! i S 670Omtt», 'm'I»r
200,000
S o m X Ni n S f 8,i C,^ ! f i > company has paid its stockholders
360,242
934.482 h
TwiJir3011*?’ mciading_scrip dividends. The receipts from lands aro
12,282,159 112,282,159 « « 7« Pi a011™ y ended; the laud notes on hand April l, 1886, were
1, 221,000
714,000
1,890,841
1,926,281 f e p o ^ o f e S n ^ aareg is“ ued. 8 86CretiV6 and n0 monthly or weekl7
1,808,567
2,000.734
Tim mileage, earnings, «fee., for four years endin March 31, have
3.807,191
2,932,848 been as follows :
1.934.004
4.239,176 . ...
i .
1882-3.
1883-4.
1884-5.
1885-6.
Miles owned <&oper..
1,381
1,384
1,384
1,384
To“ ......
Earnings—
^
«
$
Stock, common ....................... $26,617,366 $41,374,866 *$41,374,866
$
3,333,069
3,313?448
3.023.884
Stock, preferred.........................
22,325,455 22,325,454 *22,325,454 Passenger.................
3,127,258
F r e ig h t.................
7,928,236
8,056,316
8,144,142
Stocks of propriet’ry roads,<&o 22,550,100
7,713,659
11,220,000
11,230,000 Mail,expr'8,r’nts,«fee.
928,598 1,165,750
1.038.885
®?nded d e b t... ....................
80,891,000 91,460,500
1,163,431
90,511,500
Divid’ds declared, not yet due
* a--------1,027,772
1,544,221
Total gross eam ’gs 12,189,903 12,535,514 12,206,911
1,331,600
Sinking funds p a id .......
12,004.348
1,730,000
1,934,000
Oper.
expenses........
4,239,175
7,109,817
7.298,002
7,160,324 7,166,893
Current bills, pay-rolls, «fee. HI
1,880,317
1,690,680
2,251,206
Uncollected coupons, «fee........
80,651
113,262
Net earnings. . . .
140,762
5,080,086
5,237,512
5.046.587
Rentals of roads in la ., not due
4.837.455
562,543
31,044 P.c of op.ex. to earn.
5833
58-22
Bonds unsold, «fee.......
58-65
59 70
310.000
537.000
37,000
INCOME ACCOUNT.
Note of Consol. Coal C o. . ! ! ! ! !
275.000
275.000
125.000
„
. :
1881-82.
1882-83.
1883-84.
Accrued interest not d u e .......
1884-85.
675,395
Receipts—
$
«
705,060
703,525
Miscellaneous...........................
$
$
*
120.000 Net earnings................
5,080,086 5,237,512 5.046.587 4.837.455
Land income account...2J)38!675
2,954,246
560,000
470 000
3,194,071 From land departm’t
330.000
Railroad income account.......
9,187.120
310,000
9.762,819
11,144.326
Total..................
Total income.......
5,640,086
.......................... $171,051,394 $185,897,108 $188,759,529
5,707,512 5.376.587
5,147,455
Disbursements—
$
$
$
$
Rent leased roads ..
304,363
301,121
301,121
301|995
Interest on d eb t.......
950,000
1,002,350 1,094,750
1,213,250
Dividends..................
2,937,186 2,937,186 2,937,186
2,937,186
Rate per cent.........
7
7
7
7
Add.
and
imp.
aoc’t
.
.
1,300,000
1
,
200,000
750.000
463,000
pany^treasim y? ’ 007,116 common and $2>28I preferred stock in com- Miscellaneous*........
147,595
177,784
196,344
164,784
to^$969?50ofilVe bond8 m sinkin2 funds, which amounted May 31,1886,
Total disbursements.
5,639,143
5.618,441 5,279,401
5,080,215
T J Y 'Q a. 9: 76, 1 0 0 , 101, 255, 272, 685; V.42, p. 22 304 324 23« qqq Balance, surplus . . . .
943
89,071
97,186
67,240
487, 519, 694; V. 43, p. 49, li7 , 1 3 0 , 399.)
P
’
’
’ 338’ 393’
519,548,631
» i v e r - L i n e of road from Shells, 111 toOlnev ? ^ 7 & ? V l 3r v 24 3 T 3 0 8 . i 1’ P- 5’ !,3 ! V'
o i n ^ A n w 1 riC0,
3 or£anized 1111886 as successor of the D a n ®
C
h
ic
a
g
o
«fc
St.
L
o
u
is
.—Ohioago
to
Pekin,
111,
150
miles,
and brunch
& Ohio River, foreclosed in Feb. 1886. An extension to th«
z miles. This is the title of the company organized in March, 1885. as
o ^ 0.River I3 Pr°j6cted. Earnings in 1884-5, $50,293 gross and def6 successor
or the Chicago St. Louis <&Western, which had been formed
S
(VP42, png15!f2f5?82422)823, Parker C> CllandleE«^esTdentfS m J au,1884, as successor of the Chicago Pekin <fc Southwestern. Stock*
$3,000,000. Bonds offered for sale in New York July, 1885, by R. p i
Mower * Co. Gross earnings in 1885, $292,798; net, $91,633; int. on
bonds, $90,000. (See V 41, p. 355, 415 ; V. 42, p. 604!)
C h ic a g o St. L o u is dc J P lttsb u rg.—The mileage is as follows t
Columbus, O., to Indianapolis, Tnd., 187miles; branches—Bradford Juno..
O., to Chicago, El., 231 in.; Richmond, Ind., to Anoka June., Ind., 102 m.:
Peona Junction, Ind., to 111. State Line, 61 m.; Indianapolis to Kokomo(operated jointly with Wab. St. L. «fe Pac.) 55 m.; total operated, 635 m.
This is thereorganization (March 20, 1883,) of the Columbus Chicago
<fe Indiana Central road, sold in foreclosure on Jan. 10, 1883. Thep- pi & I. C. company was formed Feb. 12,1868, by consolidation of
the Col. «&Ind. Cen. and Chic. <fe Gt. East, railroad companies, and wasleased to the Pitts. Cm. <fc St. Louis Railway Co. Feb. 1,1869, by which
company it was operated. After default in 1875 and much litigation,
a plan of settlement with the Penna. RR. was approved by a maiorltv
of bondholders in 1882 and carried out. The preferred stock is entitled
to 6 per oent yearly if earned, and is clearly cumulative. There was held,
by the Penna. RR. and the Penna. Co. a large amount of the 1st consol
^ asform erlythe Chicago «fc Southwestern, and w a f S c l S d S mm- mortgage and the stocks, whioh are presumably still held by those
company, and consolidated June, 1880. The present companies. In addition to the bonds given in our table there areL * Pacific was a consolidation June 4,1880, with $50 <}®0 ooo several smaller amounts of other issues aggregating $28,278.
s to ck a u th o n z ^ ia n d a scrip dividend of 100 per cent to ththolderao®
The annual report of this company for the year 1885 was nub
in the Chronicle , V. 42, p. 517, to which reference should be madeK t i S o c i u S t o jSiie^
5 ° al y6ar end8 March 31, and the annual lished
The report says: “ As will have been noticed, the freight earnings in
creased
$257,454. This was the result of an increase of 514,533 tons in.
10S£ OCK, ANP B onos-—Dividends have been paid as follows since
1876, viz.: in 1877 and 1878, 8 per cent; In 1879, 10 in 1880, the tonnage. The total tonnage was 3,03 L,595 tons, as against 2 ,5 1 7 062 tons in 1884. Of the increase in the tonnage, 79,379 was in the>
H
i
ISM.“»S cK s I L «
K AILR O AD
O c t o b e r , 1886,]
STOCKS
AND
33
BONDS.
Subscribers w i l l confer a great favor b y g iv in g im m ediate notice o f a n y error discovered in these Tables«
Bonds—Brinci.
INTEREST OR DIVIDENDS.
DESCRIPTION.
Miles Date Size, or
Amount
Rate per When Where Payable and by Stocks—Last
of
par
For explanation of column headings, &o., see notes of
Dividend.
Whom.
Road. Bonds Yalue. Outstanding Cent. Pay’ble
on first page of tables.
Chicago <&Northwestern—(Continued)—
Sioux City & Pacifie, 2d mort. (Gov’t subsidy).... 102
do
pref. stock............... ......... — .
Chicago «6 Ohio Hirer.—1st mort.................................
Chicago Rock Islanddk Pac.—St’ck (for $50,000,000) 1,384
636
1st mortgage, coup, or reg............................. •
Chic.& Southw.. IstM.g. (g’d in cur. by C.R.I.&P.) 271
Exten. and collât, bonds ($20,000 p.m.) cp. or reg. 269
Chicago dk St. Louis—1st mortg................................. 150
Chicago St. Louis dk Piitsb.—Common stock.......... .
Preferred stock (6 per cent cumulative)............... 582
1st mortgage, consol, gold ($22,000,000).............. 580
1st M. Chic. & G’t East. (Chic, to Logansport).... 117
do Col. & Ind’poÜs Cent. (Col. to Ind’s, Did.)., 208
93
do Union & Logansp’t (U’n City to Logansp’t
do Cinn. & Chic. Air Line(Richm’d to Logans.] 107
2d M. Col. & Ind’polisCent. (Cov.to Union Cfity).. 208
OIUc. St. Paul Min’polis Omaha—Common stock.. 1,280
Preferred stock......................................................... 1,280
Consol, mortgage ($15,000 per mile)......................
Chic. St. Paul & Minn., 1st mort., gold, coup........ 177
North Wisconsin, 1st mortgage............................. . 120
605
St. P. & Sioux City, mort., gold, for $7,000,000—
23
St. Paul Stillwater & Taylors’ Falls, 1st mort----12
Hudson & River Falls. 1st mort........ ...................
Minneapolis East RR., 1st mort., guaranteed----Chicago dk West. Indiana—1st mort, (sinking fund).
General mortgage, gold, sinking fund.................
413
Chicago dk West Michigan—Stock, n e w ...................
127
1st mortgage, New Buff, to St. Jo.......................
36
Gr. Rap. Newaygo & Lake Sh., 1st mort. cou p ...
46
do
2 oTM. on 35 m. & ls t on 11 m.,cou]
413
Gen’l M. ($12,000 p. mile).....................................
$500&c.
100
1877 l,000&c
1869 Í00 &c.
1884
1,000
1,000
1885
100
100
1,000
1883
1864
1865
1864
1880
1878
1880
1879
1878
1878
1879
1879
1882
1869
1871
1875
1881
1,000
100
100
1.000
50Ö &c.
1,000
1,000
1,000
1,000
1,000
1,000
500 &G.
1,000
$1,628,320
169.000
500,000
41,960,000
12,500,000
5.000,000
3,960,000
1,500,000
7,313,643
17,442,050
13,435,000
224,000
2,631,000
715,000
108,500
780,000
18,559,660
11,259,933
11,970,170
3,000,000
800,000
6,080,000
334,800
125.000
75,000
2,445,000
6,396,666
6,796,800
480.000
576,000
24.000
2,765,000
Nov. 1, 1886
July 1, 1917
Nov., 1899
July 1, 1934
Mar. 1, 1915
5 g. A. & O. N. Y., Union Trust Co.
do
do
7
Various
do
do
7
J. & J.
do
do
7
A. <fe O.
do
do
7
F. & A.
do
do
M. & N.
7
Oct. 1, 1932
1893 «St’95
Nov., 1904
Dec., 1905
Aug. 1, 1890
Nov., 1904
1%
6
7
5
6
3
6
6
6
6
7
8
7
6
6
1
8
8
7
5
New York, Office.
J. & J.
J. & D.
do
do
do
do
g. M. & N.
do
do
J. «Ss J.
do
do
g. A. «Ss O.
do
do
J. «Ss J.
do
do
J. «Ss J.
do
do
J. & J.
g. M. & N. N. Y., Drexel, M. «Ss Co.
do
do
g. Q . - M .
Boston.
F. & A.
M. & S. Bost.. Treasurer’ s office.
J. «Ss J. N. Y. Union Trust Co.
do
do
J. «Ss D.
J. «Ss D.
local and 435,154 in the foreign or competitive traffic. The increase was
mainly in grain, coke, coal, ore and manufactured articles, while a con Miles operated
Earningssiderable traffic was also developed in the transportation of dressed
meats eastbound ; but the freight earnings failed to show a proportionate Passenger.................
gain, owing to the geneial demoralization in rates that prevailed during
the greater part of the year, and which resulted in your road receiving
an average rate per ton per mile of but 5‘2 mills, being a decrease of *8
Tot. gross earnings
mill, or 13-33 per cent.”
Oper’g expens.&txs.
OPERATIONS AND FISCAL RESULTS.
1885.
1684.
1883.
1882.
635
635
635
580
Miles of r’d operated
Operations—
1,061,091
1,186,779
1,228,701
1,118,516
Passengers carried..
46,183,683 48,146,452 48,891,744 46,840,896
Passenger mileage
2 21 cts.
2*32 cts.
2‘42 cts.
2*44 cts.
Rate pass. $ mile
3,031,591
2,517,062
2,782,033
3,001,619
FFght (tons) carried
Fr’ght (t'ns) mileage 547,861,385 526,622,269 484,716,894 612,653,872
0*52 cts.
0*60 cts.
0’72 cts.
0 66 cts.
Ave. rate $ ton $ m.
$
$
Earnings—
$
$
1,036,077
1,134,689
1,163,407
1,128,909
Passenger.................
3,159,887
2,902,433
3,781,107
3,636,669
Freight......................
371,632
359,718
349,406
357,365
Mail, express, &o___
Total gross earns
Op, exps. and taxes.
5,122,943
4,419,357
5,293,920
4,335,964
4,396,840
3,602,213
4,567,596
3,807,645
Net earnings.............
P.o.of op.ex. to earns.
$703,586
86-27
$957,956
81-90
$794,627
81-93
$759,951
83-36
INCOME ACCOUNT.
Receipts—
Net earnings......................
Interest........................
Other receipts............. .
1883.
$957,956
26,720
297
1884.
$794,627
1,972
78,073
1885.
$759,951
Total income.....................
Disbursements—
Rentals paid.........................
Interest on debt..................
Net C. C. & I. C. for 3 mos..
Miscellaneous.......................
$984,973
$874,672
$759,951
*15.918
663,363
120,633
$21,224
1,079,602
$21,224
1,079,241
17,565
Total disbursements.......
$799,914
$1,100,826
$1,118,030
Balance................................sur.$185,059 def. $226,154 def. $358,079
—(V. 40, p. 363, 5 39; V. 42, p. 364, 5 1 T.)
C hicago St. P a u l M in n ea p o lis Sc O m a h a .—(See map Chicago
& Northwestern.) MUeage: Eastern Div.—Elroy to St. Paul, 196 miles;
River Falls Branch, 25 miles; Stillwater Branch, 4 miles; South Stillwater
Branch 4 miles; Eau Claire Branch, 3 miles; NeiUsville Branch, 14 miles;
St. Paul to Minneapolis, 10 miles; total, 256 miles. Northern D ivisionNorth Wisconsin Junction to Bayfield, 178 miles ; Ashland Junction to
Ashland, 4 miles; Ashland Shore line, 1 mile; Eau Claire to Chicago
Junction, 81 miles; Superior Junction to West Superior, 69 miles; total,
333 miles. St. Paul & Sioux City Division—St. Paul to Sioux City, 269
miles; Minneapolis to Merriam Junction, 27 miles; Lake Crystal to El
more, 44 miles; Heron Lake to Pipestone 55 miles; Sioux Falls Junction
to Salem, 98 miles; Luverne to Doon, 28 miles; total, 521 miles.
Nebraska Div.—Covington to Omaha, 126 miles; Coburn June, to Ponca,
16 miles ; Missouri River transfer, 2 miles; Norfolk Branch to Emerson,
46 miles; Wakefield to Hartington, 34 miles; total, 224 miles. Total
owned, 1,334 miles. Proprietary road, 5 miles. Total of all, 1,339 miles.
This was a consolidatibn July, 1880, of the Chicago St. Paul & Minnea
polis (formerly West Wisconsin), the North Wisconsin, and the St. Paul
& Sioux City. The St. Paul & Sioux City was a consolidation in August,
1879, of the St. Paul & Sioux City and the Sioux City & St. Paul, forming
a main line from St. Paul to Sioux City, 270 miles. The St. Paul Still
water & Taylor’s Falls was consolidated with this company; also the
Worthington Sioux Falls & Iowa and Covington & Black Hills.
Preferred stock has a prior right to non-cumulative dividend of 7 per
cent from net earnings ; but common is never to receive more than is
paid on preferred. The Chic. St. Paul & Minneapolis 1st mort, is a 2d
on the lands ; the land mort, a 2d on road ; but no foreclosure can be
had except by default on 1st mortgage.
In November, 1882, a controlling interest in the stock was purchased
for the Chicago & Northwestern Railway by the acquisition of 93,200
shares of common at an average price of 48*40, and 53,800 shares of
preferred at an average of 104-04—the total cost being $10,503,959,
which stock is held as an asset of the Chic. & Northwestern Company.
For the half-year ending June 30,1886, a report published in the
Chronicle of October 30, gave the gross earnings $2,690,157, net,
$869,282; against $2,510,871 gross and $687,762 net in first half of
1885«
Report for 1885 was in Ch ronicle , V. 42, p. 429. The land sales in
1885 were 121,045 acres for $516,951, including lots; land contracts and
notes on hand Dec. 31,1885, $2,295,848; lands undisposed of, 837,079
acres. Earnings, «fee., were as follows :
Jan. 1, 189$
Oof. 5, 1886
J. & J. U.S. Treas., at maturity
A. & O. New York, Co.’s Office.
___
Q.—F. New York, Co.’s Office.
do
do
J. & J.
do
do
M. & N.
do
do
J. & J.
New York.
M. & S.
6
P.o. of op. ex. to earn.
1882.
1,150
$
1,311,217
4,962,202
3,240,787
1,721,415
65-31
1883.
1,280
$
1,470,558
3,843,948
200,778
5,515,284
3,623,827
1,891,457
65-70
INCOME ACCOUNT
July 20,18 8 6
June 1, 1930
May 1, 1918
Jan. 1, 1930
April 1, 1919
Jan. 1, 1908
July 1, 1908
Jan. 1, 1909
Nov. I, 1919
Deo. 1, 1932
Aug. 16, 1 8 8 6
Sept. 1889
July 1, 1891
June 1, 1905
Dec. 1,1921
1884.
1,318
$
1,430,711
4,132,530
221,690
5,784,931
4,007,022
1,777,909
69-26
1885.
1,340
$
1,305,515
4,255,393
253,897
5,814,810
3,721,151
2,093,659
63-99
1885.
1884.
1883.
$
$
$
2,093,659
1,777,909
1,891,457
721,995
651,125
547,777
Net from land grants
33,235
212,221
153,623
Other receipts..........
2,848,889
2,592,857 2,641,255
Total in com e....
$
Disbursem ents—
$
$
62,982
49,174
35,564
Rentals paid___. . . . .
1,334,324
1,222,371
1,320,146
Interest on debt.......
675,408
770,476
787,976
Div. on pref. stock..
(7)
(7)
(6>
Rate of dividend . . . .
12,524
12,356
13.065
Loss on prop, roads.
2,170,361
2,085,238
2,040,767
1,897,885
Tot. disbursem’ts
763,651
470,894
552,090
491,221
Balance surplus.......
,653; V .4 2 .P . 257, 4 2 9 , V. 43, p. 244.)
Chicago Sc W e ste rn In d ia n a .—Owns from Dolton and Ham
mond, 111., to Chicago, with a belt railroad and branches, with ware
houses, elevator, «See., 48 miles of roads and 132 miles of track in all,,
including 2d, 3d, 4th and siding track (of which 51 miles were leased to
the Belt R’y of Chicago), and about 400 acres of real estate. This
oompany leases its road for right of way into Chicago and terminal
facilities therein to the Wabash, the Gr. Trunk of Canada, the Chicago
& East. Illinois, the Chic. & Atl. and Louisv. New Albany & Chicago
roads; the annual rentals stipulated amount to $667,450, exceeding the
interest charge considerably. The stock is $5,000,000 and bonds are lim
ited to $10,500,000; the bonds are liable to be redeemed at any time at
105 by a sinking fund, which is provided for by increased rentals to be
paid for that purpose. (V. 43, p. 22.)
Chicago Sc W e s t M ic h ig a n .—Owns from Lacrosse, Indiana, to
Pentwater, Mich., 209 miles; m-anohes—Holland Junction to Allegan,
23 miles; Holland to White Cloud, 70 miles; Fruitport to Muskegon,
10 miles; Kirk’s Junction to Pickand’s Junction, 3 miles; Muskegon
to Port Sherman, 6 miles; Woodville to Muskegon River, 17 miles;
Mears to Hart, 3 miles; B. R. Junction to Big Rapids, 51 miles; White
River Junction to Baldwin, 20 miles: total operated, 413 miles. Organ
ized as successors of Chicago & Michigan Lake Shore Jan. 1,1879, and
consolidated in Sept., 1881, with the Grand Haven road, 57 miles,.
Muskegon to Allegan, and the Grand Rapids Newaygo & Lake Shore, 46
miles, from Grand Rapids to White Cloud.
Earnings, &o., have been as follow s:
Receipts—
1882.
$
1,721,415
546,825
120,866
2,389,106
$
27,736
1,134,751
735,397
(7)
INCOME ACCOUNT.
1885.
1884.
1883.
1882.
$
Total gross earnings............1,503,433 1,550,098 1,469,667 1,297,301*
Receipts—
364,874
468,977
348,788
Net earnings......................... 455,645
4,072'
2,217
7,559
Other receipts.....................
7,068
Total incomfe.................. 462,713
Disbursements—
$
Interest on d eb t.................. 191,423
Dividends.............................. 153,580
372,433
471,194
217,024
184,506
222,085
215,257
352,860
$
224,080
123,004
Total disbursements.... 345,003
401,530
437,342
347,084*
Balance
..................surl 17,710 def 29,097 sur.33,852 sur. 5,776
- ( V . 40, p. 4 5 2 , V. 42, p. 186, 4 8 6 .)
C in cin n ati Sc E a stern .—June 30, 1884, operated from Idlewild,
O., to Wharton, O., 99 miles; Junction to New Richmond, 15 miles;
leases Col. & Maysv., 18 miles; Hillsboro Short Line, 2 miles; and Cin.
to Idlewild, 5 m. Went into receiver’s hands Sept., 1883, who completed
the road to Portsmouth. In Sept., 1886. road was sold in foreclosure:
and purchased by Mr. Netter for $900,550. In 1883-84 gross earnings
were $139,318; net. $19,613. In 1884-85, gross, $135,057; net, $8,920;
rentals, $9,265; deficit, $345. Plan of reorganization in V. 41, p. 23. (V
40, p. 120, 304; Y. 43, p. 49, 274, 334.)
^Cincinnati H a m ilto n Sc D a y to n .—Owns from Cincinnati, O.,.
to Dayton, O., 60 miles; leased—Dayton & Michigan, Dayton to
Toledo, 142 miles; Cincinnati Hamilton & Indianapolis, Hamilton to
Indianapolis, 99 miles; Cincinnati Richmond & Chicago, Haimlton, O.,
to Indiana State line (and leased road), 44 miles; McComb Toledo &
D.t 9 m iles: total operated, 354 miles; each lease reported separately.
In April, 1885, it was announced that a controlling interest in this roadi
was purchased in the interest of Mr. C. P. Huntington and others,
although the stock had already been deposited in a 5 years pool, and m
June the directors elected were of the new management. See V. 42, p~
753. On Sept. 16,1886, the stockholders voted to issue preferred stook
guaranteed 6 per cent dividends to take up bonds. See V. 43, p. 334.
34
IN Y E S TOUS’
SUPPLEMENT.
[V ol. X L IH .
O c t o b e r , 1886.1
R AILR O AD
STOCKS
AND
3 5
BONDS.
Subscribers w ill confer a great favor by g iv in g im m ediate notiee o f any error discovered in these T a bles,
Bonds—Prin cl INTEREST OR DIVIDENDS.
DESCRIPTION.
)al,Wben Due
Miles Date Size, or
Amount Rate per When Where Payable, and by Stocks—Last
Par
of
of
For explanation of column Readings, &c., see notes
Outstanding
Dividend.
Whom.
Cent. Payable
Road. Bonds Value.
on first page of tables.
J. & J. Sardinia, O, Receiver. July 1, 1896
$498,100
7
2
3,500,000
Q .-F . N. Y., H. S. Ives & Co, Dee. 1, 1886
Oct., 1886
do
do
1
1,000,000
Q .-J .
—
(S)
1905
l'obo 3,336,250 4, 5~6, 7 A . * ”o . N. Y., H. S. Ives & Co. Oct.,
” 60 Ì875
Jan., 1903
do
do
J. * J.
1,800,000
7
1,000
98 1873
3ept. 15, 1886
New York.
1
Q .-J .
382
100
7,000,000
Oct., 1888
A. * O. N.Y., Amer. Ex. Bank.
7
1,598,500
95 1858 500 &c.
Feb., 1897
do
do
F. & A.
7
1,000
2,790,000
151 1867
Dec.,
1892
do
do
J. & D.
1,000
499,000
7
20 1862
Jan., 1892
do
do
J. & J
7
1.000
1,329,000
20 1867
Aug. 1,1936
do
do
1,255,000
4 g. Q .-F .
All. 1886 1000 &o
May 1, 1920
do
do
M. & N.
6
1,195,000
1,000
175 1880
Moh.. 1901
do
do
1,120,000
1,000
7 g. M. & S.
56 1871
May 1, 1920
Cincinnati.
M. & N.
7
450,000
44 1880
Vernon Greens!). & Rusliv. 1st mort...... ...............
200,000
5
Cincinnati Lebanon <£ Northern.—1st mortgage ..
Jan., 1901
J. & J. N. Y., Moran Bros.
7
1,500.000
1,000
148 1870
Cincinnati <6Muskingum Valley—1st mortgage—
Feb. 5, 1833
3
3,000,000
100
336
Cincinnati New Orleans<£ Texas Pacific—Stock....
July, 1895
N.
Y
..H
.
S.
Ives
&
Co.
J. & J.
7
560,000
1,000
36 1866
Cin. Richmond A Chic.—1st mort., guar. C. H. & D.
Jan. 1, 1889
do
do
7
J. & J.
65,000
1,000
36 1869
2d mortgage, guar, and owned by C. H. & D ---June, 1921
1.800,000
1,000
7 g. J. & D. N.Y., H. S. Ives & Co.
91 1871
Cm. Richmond <6Ft. TV.—1st mort., gold, guar....
May 1, 1884
Boston, Office.
2
M. & N.
4,003,330
50
190
Cincinnati Sandusky <6 Cleveland-Stock...............
Nov.
2, 1885
do
do
M. & N.
3
428,850
50
190
Preferred stock.......................... .............................
F. & A. Boston, Nat. Revere Bk. Aug. 1, 1900
6
538,000
1866
Moh.,
1887
Boston, Office.
M. & S.
350,000
7
1852
Mortgage bonds, Sandusky City & Ind..............
Deo. 1, 1890
do
do
J. & D.
7
1,072,300
1867
2djnortg. Cine., Sandusky & Cleve....................
April
1,
1901
A. & O. N. Y., U. S. Trust Co.
2,000,000
7
1,000
43 1871
Cincinnati A Springfield—1st mortgage, guar...
1902
do
do
J. & J.
651,000
7
1,000
48 1872
2d mortgage....................................................... •
2,043,100
....
165
Cincinnati Wabash A Michigan—Stock ($3,000,0<
....
5,811,100
....
100
....
281
Cincinnati Washington A Balt.—Common stock.
12,893,200
100
Preferred stock.....................................................
M.
& N. N.Y.,Farm’s’ L.& Tr.Co. Nov. 1, 1931
7,171,703 41flg* 6g
1,000
1883
Nov. 1, 1931
do
do
1,000
3,031,000
5 g. J. & J.
.
... 1883
2d mortgage, gold.
1885.
1884.
Deduct—
1883.
For the six monthsending Sept. 30,1886, the net surplus applicable
$800,000
$800,000
Rent of road............................... $800,000
to dividends was $244,376.
12.000
12,000
Paid
to
Trustees.........................
12,000
March
31
was
as
follows,
Income account in the fiscal years ending
$812,000
$812,000
$812,000
including all the roads operated :
1885-86.
1884-85.
1883-84.
Sur. $9,210 Sur.$15 9.011
Balance.. . . . . . . . . . . . . . . . . ..D ef. $15,978
$2,856,559
$2,865,933
Gross receipts................................ $3,042,461
F. S. Bond, President. (V. 42, p. 2 4 0 ; V. 43, p. 125, 210.)
$1,813,899
$1,841,271
Operating expenses and taxes.. $2,083,705
C in cin n ati Leb an on & N orth ern .—Dodds, Ohio, to Cincinnati,
236,940
236,940
C. H. & D. div., com. and pref..
236,485
490,718 36 miles; branches, 2 m iles: total, 38 miles. Uses 22 miles, Dodds to
503,266
Interest.................................... .
Dayton.
This company was formed in July, 1885, as successor of the
132,020
132,017
D. & M. dividends.......................
132,015
Cincinnati Northern, sold in foreclosure. Stock is $1,000,000. Gross
10,650
Miscellaneous...............................
6,185
earnings in 1884-85. $103,896; net, $3,071; rentals, $8,130; deficit,
Total........................................$2,968,227
$2,724,144 $2,673,577 $5,059. (V. 40, p. 684; V. 41, p. 23, 133, 215.)
C in cin n ati R ic h m o n d & C h icago,—Owns from Hamilton, O.,
$182,982 to Indiana State Line, 37 miles; leased, Kichmond, Ind., to Ohio State
$141,789
Net surplus.. . . . . . . . . . . . . . . . .
$74,232
—(V. 41, p. 75, 355, 472, 653; V. 32, p. 124, 487,519,752; V. 43, p. 131, Line, 7 miles; total operated, 44 miles. Reorganized May 3, 1.866,
and leased in perpetuity from February, 1869, to Cincinnati Hamilton
334 487 )
C in cin n ati In d ia n a p o lis St. L o u is & C h icago.—(See Map.)— & Dayton Co., this company to receive all surplus after expenses and
Owns from Cin. to Lafayette., Ind., 174 miles; Lawrenceburg branch, bond interest. Gross earnings in 1882-33, $254,003; net, $109,844;
3 miles; Harrison branch (partly owned), 7 miles; Fairland F. & M. int., $53,900; surp., $55,944. Gross in 1883-4, $247,911; n et,$86,256;
Road, 38 miles; and Cincinnati Lafayette* Chicago (leased), 76 miles; int., $43,120; surplus, $43,068. Capital stock, $382,600.
Vernon Green. & Rush., 44 miles (lleased); K ankakee* Seneca (one-half
C in cin n ati R ic h m o n d & F o rt W a y n e .—Owns from Rich
owned), 43 miles; Col. Hope & Green., 26 miles; total operated, 411 miles. mond, Ind., to Adams, Ind., 86 miles; leased, 5 miles of Pittsburg
This company was formerly the Indianapolis Cin. & Laf., which was a Fort Wayne & Chicago; total operated, 91 miles. Leased for 99 years
consolidation in 1876 of the Indianapolis * Cin. and the Laf. * Indianap to Grand Rapids & Indiana, the rental being net earnings; in
olis railroads, the company taking a perpetual lease of the Cincinnati terest is guaranteed by the lessees and by the Pennsylvania Company
* Indiana Railroad. The road was sold in foreclosure Feb. 2, 1880, and Cincinnati Hamilton & Dayton Company, jointly. Gross earnings
and this company orgauized.
„„„ „„„
..
,,
in 1884, $388,768; net, $63,571. Loss to guarantors, $100,391. Gross
The new 4 per cent mortgage for $10,000,000 will retire all other in 188i, $373,692; net, 189,329 ; loss to guarantors, $79,835. Capital
bonds as thev fall due, and leave a surplus of $1,000,000 for other pur stock, $1,709,192. Total advances by guarantors, $988,466.
poses as needed. There are yet outstanding $33,500 Cin. & Ind. fund.
C in cin n ati San du sky & C levelan d .—Owns from Sandusky,
coup. 7 p. ct. bonds, due Sept., 1890. ___
__
After paying dividends of 6 p. c. in 1881, 6 in 1882,and 3 in 1883, the Ohio, to Dayton, Ohio, 154 miles; branch, Carey to Findlay, 16 miles;
dividends from July, 1883, were passed, the money being required for leased, Columbus Springfield & Cincinnati, 44 miles; total operated, 214
repairs of damages by flood, &c., and 1 per cent quarterly was resumed miles, less the division between Springfield & Dayton, 24 miles, which is
inD ec.. 1885.
,
1000 leased to the Clev. Col. Cinn. & Indianapolis. The preferred stock
For two months from July 1 gross earnmgs were $450,113 in 1886, has a lien by deposit of old bonds in trust. The Receiver, after a
against $383.937 in 1&85 ; net, $183,372, against $156,515; surplus three years’ possession of the property, was discharged January 1880.
In April, 1881, a lease was made to the Indiana Bloomington & Western.
over charges, $33,372, against $56,515.
The annual report for the fiscal year ending June 30,1886, was pub By the terms of the lease this company takes 33*3 per cent of its gross
earnings as rental; but the amount in any one year shall not be less
lished in the Ch ronicle , Y. 43, p. 430.
than $220,000 nor more than $550,000. There was a difference of
For years ending June 30, the statistics of income, &o., are as follows:
$202,076 claimed from the lessee up to 1885, and suit was brought and
INCOME ACCOUNT.
finally deoided against the I. B. * W., which oompany thereupon went
1385-86. to a receiver in July, 1886. The U. S. Court ordered the receiver to
1884-85
1883-84.
1882-83.
pay the C. 8. & C. rental, but afterward it was reported that the suit
$
$
$
$
2,526,934 would be settled and the two companies consolidated. (See V. 43, p.458.)
2,595,859
2,617,457 2,408,589
For the year ending June 30,1885, rentals received and miscellaneous
986,872
935,678
973,652
903,190
Net earnmgs...............
receipts were about $223,000. Payments, including all expenses, in
Disbursements—
terest,
dividends on preferred stock,&o., about $246,000. (V. 42, p. 694;
624.234
624,482,
621,159
626,233
Interest on bonds.......
210,000 V. 43, p. 49, 244, 309, 398, 458.)
315,000
D ividends...................
(3 p. c )
C incinnati & Springfield.—Operates from Cincinnati, Ohio, to
Rate of dividends___ (4Lj p. c.)
18,844 Springfield, Ohio, 80 miles, of which 32 miles were leased from othur
29,045
2,342
5,254
Miscellaneous.............
companies. The whole is leased and operated by Cleveland Col. Cin.
853,078 & Ind. Co., giving them a line into Cincinnati, and depot accommou.ac
653,527
938,501
631,487
Tot. disbursem’ts ...
133,794 tion. Lessees apply any excess over rentals to C. & S. stock. Interest
282,151
35,151
271,703
Balance, surplus........
—(V. 41, p. 50, 76, 3 9 1 , 445, 483, 584, 653, 6>8 ; V. 42. p. |93, 215, 338, is guaranteed on the first mortgage, one-half by the lessees and one-half
by L. Shore * Mich. Southern. Stock is $1,100,000. To January, 1886,
468, 604,928, 753; V. 43, p. 22, 73,190, 368, 4 3 0 , 431, 458.)
tne C. C. C. & I. had advanced $2,769,167. Gross earnings in 1884,
C in cin n ati & M u sk in g u m V a lle y .—Owns from Morrow, O., to $910,908; net earnings, $193,068; rentals, $166,060; interest, $185,Dresden Junction, O., 148 miles. Chartered as Cinn. Wilm. & Zanes. 570; total, $351,630; deficit, $174,947. Gross in 18So, $886,104; net,
in 1851 and opened in 1857. Sold under foreclosure Oct. 17,1863, and $193,562; rentals. $167,322: interest, $185,570; other payments,
reorganized as Cincinnati & Zanesville March 11, 1864. Sold again $15,500; total, $368,392; deficit, $174,829Dec. 10.1869, and reorganized as at present. Road was leased for 99
C incinnati W a b a s h <fc M ic h ig a n R a i l w a y .- -Owns from
years from Jan. 1,1873, to P. C. & St. L., but the lease was terminated
Dec. 31, 1885, aud the C. & M V. Co. resumed possession. Gross earn Benton Harbor, Mich., to Anderson, IndT, 165 miles. Sold Nov. 5, 1879;
ings m 1884, $383,667; deficit, $42,002; interest paid, $105,000; total for account of bondholders. New company organized April, 1880,
deficit, $149,002. Gross in 1885, $319,645; deiioit, $66,917; interest, Total stock authorized, $3,000,000. Gross earnings for 1884, $326,532.
$105,000; total deficit, $171,917. Total amount due lessee Deo. 31, net, $57,534; surplus over payments, $8,469. Gross in 1885, $321,790;
net, $58,655. J. H. Wade, President, Cleveland, Ohio.
1885, $1,081,013. Capital stock, $3,997,320. (V. 41,p. 23, 653.)
C in cin n ati N ew Orleans & T ex a s P acific.—(See Map).—This is
C incinnati W a s h in g to n & B a ltim o r e .—(&ee Map o f Balt. A
the company organized under the laws of Ohio Oct. 8,1881, to operate Ohio.)—Cincinnati, O., to Belpre, O., 193 miles; branches—Marietta to
the Cincinnati Southern, and 51 per cent of the stock is held by the Eng Belpre, 11 miles; Portsmouth to Hamden, 55 m ; Blanchester to Hills
lish company, the Alabama New Orleans & Texas Pacific Junction Co., boro, 22 m.; total, 281 m.
_
J „
Limited. The Cincinnati Southern road extends from Cincinnati to
The Marietta & Cincinnati Co. was sold in foreclosure Dec. 9, 1882,
Chattanooga, Tenn., 336 miles. The Ala. N. O. & T. P. also controls the and re-organization was made Feb. 7,1883, under this name.
,
Vicks. & Mer., 142 miles; Vicks. Shrev. & Pac., 189 miles; IS. O. & No.
Prior lien bonds were issued for receiver’s certificates. Of the first
East., 196 miles; and Spanish Fort RR., 13 miles. See title in this mortgage bonds, $1,250,000 were issued for the Cincinnati & Baltimore
Supplem en t . The rental due the Cincinnati Southern is $812,000 per Railroad stock, and bear 6 per cent, the balance bear 4*3 per cent and
year till 1886, then $912,000 till 1891. $1,012,000 till 1896, $1,102,000 are guaranteed by the Balt. & Ohio Railroad Company. The Income
till 1901, and $1,262,000 till 1906. The annual report for 1885 in V. bondholders have voting power.
„ „ ._,• V
42, p. 240, gave the following income account for three years:
The annual report for 1885 in V. 42, p. 517, had tke follow ing.
1884.
Earnings f r o m 1883.
t
« « 41!S85'
1884.
1885.
Receipts from —
1883.
$461,412
$536,198
$654,197
$662,970 Passengers..................................... $562,881
Passengers.......................
$634,940
1,019,277
1,079,861
1,177,181
1,855,856
1,875,780 F re ig h t................................
Freight...........................................1,843,781
224,581
238,249
249,805
148,131
142,796 Mail, express, &c........................
Mail, express & miscellaneous.
168,622
$1,705,270
$1,854,308
Total
earnings.............
............
$1>989’867
$2,658,184
$2,681,546
Total earnings....................$2,647,343
1,464,830
1,408,371
1,836,974
1,710,535 Operat ng expenses and taxes.. . . 1,489,824
Operating expenses and taxes. 1,851,321
Cincinnati <&Eastern—1st mortgage..........................
Cincinnati Hamilton & Dayton—Stock........... ........
Preferred stock for $1,000,000 ...............................
New preferred stock for $10,000,000.................
Consol, mort. ($996,000 are 7s), sink, fund 1 p. e
Cin. Ham. & I. (Junction) RR., 1st mort., guar—
Cincinnati Ind/ianap. St. Louis <£ Chicago—Stock..
Ind. & Cin. of 1858,1st mort............................
Indianapolis Cin. & Laf. m ortgage..................
Cin. & Ind., 1st mortgage............. ....................
do
2d M., guar., and funded coupons
Gen. 1st mort. gold (for $10,000,000).............
Consol, mort........................................................
Net earnings.......... ...........-.
$796,022
86
354
354
$321,210
$ ....
100
100
8971,011
Net earnings.............................
$500,043
$445,937
$240,440;
INVESTORS’
SUPPLEMENT..
E A IL ß O A D
O c t o b e r , 1886.
STOCKS
AND
37
BONDS.
Subscribers w ill confer a great favor by g iv in g im m ediate notice o f an y error discovered in these T a bles.
Bonds—Princi
INTEREST OR DIVIDENDS.
DESCRIPTION.
pal, When Due.
Miles Date Size, or
Amount
Rate per When Where Payable, and by Stocks—Last j
For explanation of column headings, &c., see note
of
of
Par
Dividend.
Whom.
on first page of tables.
Road. Bonds Value. Outstanding Cent. Payable
Cincinnati Washington dt Baltimore—(Continued)—
Prior lien, g o ld ............................................. ............
3d mort., gold (3 pr. ct. for 10 years and 4 after).
1st income mort., non-cumulative, gold...............
2d income mort., non-cumulative...........................
Baltimore Short lin e mortgage...............................
Cincinnati & Baltimore mortgage..........................
Scioto & Hocking Valley mortgage.........................
Cleveland Akron dt Columbus—Stock.........................
Cleveland dt Canton—Common stook.........................
Preferred stock..........................................................
Cleveland Columbus Cincinnati dt Ind.—Stock.......
1st mortgage Bel. & Ind...........................................
do
C. C., C. & I. sinking fu n d ...............
Cons, mortgage (sink, fund 1 p. c.).......................
General consol, mort., gold (for $12,000,000)___
Cleveland Lorain dt Wheeling—Stock, common........
Stock, preferred.........................................................
Clevel’nd Tuscarawas Val. & Wheeling 1st mort.
Cleveland dt Mahoning Valley—Stock...............
1st mortgage, extended*............... .................
3dmortg. (now 2d)...........................................
Niles & New Lisbon, 1st mortgage...............
Cleveland dt Marietta.—Stock............................
Cleveland dt Pittsburg—Guaranteed stock___
4th mortgage (now 1st)..................................
Consolidated sinking fund mort. for $5,000,000..
Construction and equipment bonds, Series •‘A” ..
Do
do
Series “ B” .
Cleveland Youngs, dtPitts.—IstM., gold...................
Colebrookdale—1st mortgage....................................
Colorado Central—1st mortgage, new.....................
INCOME ACCOUNT.
DisbursementsOther interest and miscellaneous.
1883
1883
1883
1883
1869
144
1852
..
. .. .
391
202
390
390
158
158
158
127
67
67
35
99
226
199
199
13
323
$1,000
1,000
1,000
1,000
1,000
1,000
100
....
. .. .
1864
1869
1874
1884
io o
1,000
1,000
1,000
1,000
1878
1873
1876
1870
50
500 &c.
500 &c.
500 &o.
1862
1867
1873
50
500
1,000
1,000
1882
1868
1879
1,000
lÓO&c.
1,000
1883.
$500,043
1884.
$445,937
1885.
$240,440
$673,690
$692,072
28,594
$693,275
1,213
$673,690
$720,667
$694,488
$274,730
$173,647
$454,048
, 5 1 7 ; V. 43, p. 308, 398.)
C levelan d A k r o n & C olu m b u s R a ilw a y .—Owns from Hud
son, O., to Columbus, O., 144 miles. Default was made July, 1874, by
Cleveland Mount Vernon & Delaware. Sold in foreclosure August 20,
1881. In March, 1882, the decree of foreclosure under which sale had
been made was reversed, and road was sold again to parties represent
ing the Holland bondholders. The company was reorganized under this
title in Jan., 1886. Gross earnings in 1884, $479,280; net, $80,858.
Gross in 1885, $493,890; net, $88,001. (V. 41, p. 744; V. 42, p. 93.)
C leveland & C an ton .—Line of road—Cleveland to Coshocton, O.,
115 miles; Canton to Sherrodsville, 43 miles; Oneida to Minerva, 3 miles;
total, 161 miles. The Connotton Valley Railroad was sold in foreclosure
May 9,1885, and this company was organized with an authorized capital
of $4,000,000 common and $8,000,000 preferred stock. The gross
eammgs for year ending June 30, 1886, were $309,210; net, $69,318.
See report for 1885, V. 42, p. 364. ((V. 41, p. 688; V. 42, p. 338, 364,
548. 604; V. 43, p. 244, 487.)
C leveland C olu m b u s C in cin n ati Sc In d ia n a p o lis.—Owns
from Cleveland, O., to Columbus, O., 138 miles; Gallon, O., to Indian
apolis, Ind., 203 miles; Delaware, O., to Springfield, O., 50 miles;
leased, Cincinnati & Springfield RR., 80 miles; Levering Station to
Mount Gilead, 2 miles; Ind. & St. Louis RR., Indianapolis to Terre
Haute, 72 miles; St. L. Al. & T. H., East St. Louis to T6rre Haute, 189
miles; Alton branch, 4 miles; total owned, leased and operated, 738
miles. This was a consolidation in April, 1868, embracing the C. C. & C.
and the Bellefontaine roads; subsequently leased Cinn. & Spring. RR.
and St. L. Al. & T. H. RR., and purchased Ind. & St. L. RR.
The company paid dividends prior to 1877, but after that the
large decline in rates for through freight and the heavy rentals paid
reduced the company’s income so that no further dividends were paid
until February, 1880, and none after that till February, 1883. In 1882
the company acquired control of the Indianapolis & St. Louis, and made
a new lease of the St. Louis Alton & Terre Haute Railroad. The sinking
fund provision of consolidated bonds may be canceled at option of
holders, and the bonds so stamped.
The annual report for 1885 was in the C h r o n i c l e , V. 42, p. 337.
The report of President Devereux, referring to the figures for the year
1885, said that with the main line earning net $117,975, the joint deficit
of the Cincinnati & Springfield and the Indianapolis & St. Louis on the
year’s operations exceeds such amount by $557,444. “ The outcome for
the year is without profit, and the cause of the trouble is plainly dis
closed in the statistics of operations given below. For most of the year
a disastrous competition and conflict has obtained in the carriage of rail
traffic, and the lowest point in rail rates between the Mississippi Val
ley and the seaboard has been reached. The average gross freight rate
is ‘577 cents per ton mile, compared with *633 in 1884, a decrease of
8-84 per cent on the extraordinarily low figures of the preceding year.
Rates have been torn and attenuated to the last degree apparently, and
the work of the year has in consequence been barren of net revenue.
“ The bonded debt of the company has been increased during the year
by $1,701,000, and now stands at $10.517,000. The company is free
from floating debt, and its property was never in better physical condi
tion, the roads and their equipment having been fully maintained to
standard.”
For seven months of 1886 gross earnings were $2,167,358, against
$1,930,902 in 1885; net, $703,371, against $386,446; surplus over
all charges and improvements, $99,549, against a deficit of $180,577
1882.
1883.
1884.
1885.
391
Miles owned...............
391
391
391
Operations—
Passengers carried...
1,035,764
976,468
938,647
820,607
Passenger mileage ... 44,759,982 43,548,617 42,176,610 38,145,350
Rate $ pass. $ m ile.
2-235 cts.
2-217 cts.
2-133 cts. 2-091 cts.
Freight (tons) moved 2,755,867
2,527,993 2,347,792 2,513,780
Freight (tons) mil’ge.447,411,484 408,436,350 397,678,278 428,691,881
0-633 cts.
0-577 cts.
Av. rate $"ton $ mile
0-706 cts.
0-751 cts.
Earnings—
$
$
797,679
1,000,270
899,435
Passenger...................
965,693
Freight.......................
3,159,417
2,518,873 2,471,863
3,068,717
136,865
Mail, express, &o.. ..
178,788
182,038
178,697
Total gross earn’gs.
Operating expenses.
4,338,475
2,963,778
4,213,107
3,018,332
Net earnings.
1,374,697
1,194,725
INCOME ACCOUNT.
R e c e ip t s —
Net earnings............
Rentals and interest
Miscellaneous..........
Total ineome A
$
1,374,697
103.125
94,305
1,194,725
129,497
165,531
1,572,127
1,489,753
3,600,346 3,456,407
2,756,749 2,694,561
843,597
$
843,597
211,396
13,805
1,068,798
762,846
$
762,846
213,032
.....
975,878
$500,000
4*ag.
3-4
2,270,000
5
3,500,000
5
4,000.000
750,000
7
500,000
7
300,000
7
400,000
....
2,800,000
....
7,000,000
2
14,991,600
7
280,000
7
3,000,000
4,013,000 7 or 6 g.
3,205,000
6 g.
1,000,000
4,600,000
7
700,000
2,759,200
11 *2
740,500
7 g
7
654,600
7
500,000
(?)
14;
11,246,971
6
1,096.000
7
2,224,000
7
1,704,000
314,000
1,600,000
6 g.
6
600,000
4,701,000
7 g.
Disbursements—
Interest on debt...
Taxes..................... .
Dividends...............
Miscellaneous........
A. & 0. N. Y., Farm.Ln.&Tr.Co.
do
do
F. & A.
do
do
do
do
....
do
do
J. & D.
J. & J. Cin., C. W. & B. Office.
M. & N. N.Y., Farm.Ln.& Tr.Co.
. ...
....
F.
J.
M.
J.
J.
A.
M.
F.
M.
J.
April 1,
Nov. 1,
Nov. 1,
Nov. 1,
Deo. 1,
Jan. 1,
May 1,
1893
1931
1931
1931
1904
1900
1896
Feh. 1, 1883
Until 1899
May, 1899
June 1,1914
Jan. 1, 1934
&
&
&
&
&
A. N. Y., U. S. Trust Co.
do
do
J.
do
do
N.
D. New York or London.
New York.
J.
&
&
&
&
&
O. N.Y.. Union Trust Co. Oct. 1, 1898
1885
N.
Cleveland, Office.
Aug. 1, 1893
A. N. Y., U. S. Trust Co.
do
do
8.
Sept. 15.1896
Jan., 1890
J. N. Y., Union Trust Co.
....
....
....
Q .-M . N. Y., Farm. L. & T. Co. Sept. 1, 1886
Jan., 1892
do
do
J. & J.
do
do
Nov. 1, 1900
M. & N.
Jan.'1 , 1913
do
do
J. & J.
,
July 1, 1921
J. <fe J. Last paid Jan., 1884
J. & D. Phila., Phil. & R. Office. June 1, 1898
J. & J. Boston, Treas.’s Office. July, 1909
1882.
X 1883.
$
$
498,615
507,453
121,276
125,144
............... (2)299,984
12,313
26,995
1884.
1885.
$
$
602,540
659,385
119,104
118,621
......................................
102,633
79,896
’
959,576
824,277
857,902
632,204
Total disbursem’ts
244,521
117,976
530,177
939,923
Balance surplus
(V. 40, p. 337. 3 9 2 ,7 6 3 ; V. 41, p. 5 0 ,57 1 ; V. 42, D. 93,155,304,
3 3 7 , 463, 604, 663; V. 43, p. 22,131, 309, 398.)
C leveland L o ra in Sc W h e e lin g .—Owns from Lorain, O., to
West Wheeling, O., 158 miles. Chartered as Lake Shore & Tuscarawas
Valley in 1870 and opened in 1873. Sold under foreclosure Jan. 26,
1875, and reorganized as Cleveland Tuscarawas Valley & Wheeling. InFebruary, 1883, road sold and reorganized as Cleveland Lorain &
Wheeling. For 1885 gross earnings were $755,447; net, $212,111;
interest, $49,000; surplus, $163,111. For 1884, gross earnings were
$858,091; net, $254,920; interest, $49,000. (V. 40, p. 6 8 3 ; V. 42, p.
631.)
C leveland Sc M a h o n in g V a lle y .—Owns from Cleveland, O.,
to Sharon, Pa., 81 miles; Niles, O., to New Lisbon, O., and branches,
46 miles; total operated, 127 miles. It was leased to Atlantic & Great
Western in perpetuity from October 1,1861. A new lease was made
to the reorganized company, New York Penn. & Ohio, till Oct. 1,1962,
at $357,180 per year till Jan., 1885, and $412,180 per year afterward.
C leveland Sc M a rietta.—Operated from Marietta, O., to Canal
Dover and branch, 99 miles, and 7 miles, Valley Junction to Canal
Dover, leased. The Clev. & Marietta was successor to the M., Pittsb. &
Clev., foreclosed in 1877. The road was again foreclosed May 5,1886,
and reorganized, and $2,000,000 new stock issued and held in trust for
old mort stage bonds. Consolidation with the Valley RR. of Ohio is pro
posed. Earnings in 1885-6, $293,862; net- $62,813. (V. 42, p. 430,
575; V. 43, p. 431.)
C leveland & P ittsb u rg .—(See Map Penn. RR.)—Cleveland, O., to
Rochester,'Pa., 124 miles; branches—Bayard, O., to New Phila., 8 l
miles; Yellow Creek to Bellaire, 43 miles; leased, Rochester to Pittsburg
(P. Ft. W. & C.), 26 miles; total operated, 226 miles. The property was
leased for 999 years from Dec. 1,1871, to Penn. RR. Co., and lease trans
ferred to Penn. Co. May 1,1872. Rental, 7 per cent on existing capital
and $10,000 per year for company expenses, the lessees assuming all lia
bilities. The terms of the lease were 10 per cent, but the old stook was
subsequently converted into a 7 per cent stock by an .increase in amount.
In 1882 surplus income over charges to lessee was $474,951. This
company’s annual report for the year ending November 30,1882, stated
that final settlement had been made with the Pennsylvania Railroad
Company in the matter of surplus assets remaining to this company, as
of the date of the lease, after closing its business, which surplus accrued
to the lessee by the terms of the supplementary agreement of November
30,1871. “ The total amount transferred as authorized by the board
of directors is $202,291. This sum has been charged against construc
tion, meeting the old balance of net earnings—$390,138—credited to
construction In the year 1880.”
Operations and earnings for four years (ending December 31) w ere:
Gross
Net
Div.
Passenger Freight (ton)
Mileage.
Earnings. Earnings, p.c.
Years.
Miles.
Mileage.
1882... .. 225 23,234,059 215,901,749 $3,353,363 $1,734,467 7
1883... .. 224 24,071,544 228,440,527 3,089,551 1,346,508 7
|ä 878,865
1884 .. .. 223 22,483,843 209,297,980 2,591,516
1,070,873
1885... .. 223 20,915,815 217,956.682 2,589,309
C leveland Y o u n g sto w n Sc P ittsb u r g .—Standard-gauge road
in progress from Southington, O., to Steubenville, O., 100 miles, and
32 miles branches. In operation from Bergholz, O., to Phalanx, 0 ., 70
miles. Earnings in 1884-85, $46,864; net, $6,595; in 1883-84, $44,694 ; net, $7,900. In March, 1884, Robert Martin, of Steubenville. O.,
was appointed receiver, and in June, ’86, a decree of sale was made in
favor of Carnegie Bros. Stook, $1,000,000. Henry W. Ford, President,
15 Cortlandt St., New York. (V. 42, p. 753; V. 43, p. 334.)
C olebrookdale.—Owns from Pottstown, Pa., to Barto, Pa., 13
miles. Leased for 20 years from J an. 1,1870, to Philadelphia & Reading,
at 30 per cent of gross earnings. Gross earnings in 1882-83, $61,270;
net earnings (30 per cent rental), $18,381. Gross in 1884-85, $44,905 ;
net (30 per cent), $13,471. Capital stock, $297,215.
C olorado Central—(See Map o f Union Pacific)—Denver to Golden
16 miles ; Golden to State line, 106 miles ; Denver Junction to La Salle,
151 miles; and narrow gauge line from Golden to Georgetown, 34
miles, and Forks Creek to Central City, 11 miles ; leases line from
Colorado Junction to Wyoming State line, 9 miles; total operated, 327
miles. Chartered in 1865, and main line opened in 1870. It is owned by
the Union Pacific. The new mortgage bond was issued to take up the
old 8 per cent bonds, of which $87,000 are yet out. Stock, $6,230,300.
Gross earnings in 1885, $1,320,765 ; net, $299,443; interest, $336,030;
deficit $36,586. In 1884, gross earnings, $1,492,142; net, $524,008 ;
interest and dividends, $429,484 ; surplus, $86,952.
C olu m b ia Sc G reenville (S. C.)—The company owns from
Columbia to Greenville, S. C., 143 miles ; branches to Abb eville ana
Anderson, 21 miles total 164 miles. Also owns Laurens RR.. 31 miles;
and leases Blue Ridge RR., 32 miles, and Spartanburg U n ion « Col. KK.,
69 miles. Total operated, 296 miles. The Greenville & Columbia road
was sold in foreclosure April 15, 1880, and reorganization was made
under this name ; preferred stock, $1,000,000 ; common stock, $1,000,-
38
INVESTORS’
SUPPLEMENT.
[V o l X U l i ,
Subscriber» w ill eonter a great favor by g iv lu g Im m ediate notice o l any error discovered n ¿base Tables
DESCRIPTION.
Bonds—Princi*
INTEREST OR DIVIDENDS.
Miles Date Size, or
pal, When Due
Amount
of
For explanation of column headings, &c., see notes of
Pm
Rate
per
When
Where
Payable
ana
by
Slocks —Last
Road. Bonds Value. Outstanding Cent. Payable
on first page of tables.
Whom.
Dividend.
Volumina A Greenville—New mort. ,g’ld,coup. or reg 164 1881 $1,000 $2,000,000
6 g. J. & J. N.Y., Nat. Park Bank. Jan. 1, 1916
2d mortgage........ i ................................................... 164 1881
1,000
1,000,000
6
A. & 0.
do
do
April 1, 1923
•Columbus A Cmn. Midland—1st M., coupon............
71 1884
1,000
2,000,000
6
J. & J. N.Y., Farm’s’ L.&Tr.Co. Jan. 1,' 1914
40 1868
Columbia A Port Deposit—1st mortgage....................
1,000
1,882,000
7
F. & A.
Phila., Penn. RR.
Feb. 1, 1893
Columbus Hocking Valley A Toledo—Stock............... 324
....
100 11,700.500 1338 st’k
Aug. 19, 1885
324 1881
Consol, mortgage, gold (for SI4,500,000).............
1,000
8,000,000
5 g. M. & 8. N. Y., Winslow, L. & Co. Sept. 1,' 1931
General M., g., on road & Hocking Coal & RR. Co. 327 1884
1,000
2,0:>0,000
do
do
6 g. J. & D.
June 1, 1904
Col. & H. V. 1st mortgage, sinking fund bonds.. 121 1867 500&C.
1,401,000
7
A. & O.
do
do
Oct. L 1897
Col. & H. V. 2d mortgage bonds............................ 121 1872
1.000
777,000
7
J. & J.
do
do
Jan. l', 1892
Columbus & Toledo, 1st mortgage coupon, s. f ___ 118 1875
1,000
2,500,000
7
F. St A.
do
do
Aug. 1,' 19Ò5
do
2d mortgage coupon, s. f ---118 1880
1,000
479,000
7
M. & S.
do
do
Sept. 1, 1900
Ohio & W. Va., 1st M. (s. f. $15,000 begins in ’86)
83 1880
1.000
1,584,000
7
M. & N.
do
do
May 1, 1910
Columbus Springfield A Cincinnati—1st mort.......
45 1871
1,000
1,000,000
7
M. & S. Bost.,3 Merchants’ Row Sept. 1, 1901
60 1881
■Columbus A Western—1st mort. (end. by Cent. Ga.)
1,000
800,000
6
J. & J. N. Ÿ., Nat. City B’k.
Jau. 1. 1911
Columbus A Xenia—S t o c k ......,.,.............................
55
50
1,786,200
2
Q .-M .
Columbus Treasury.
Sept. 10,1986
1st mortgage..............................................................
55 1860
1,000
302,000
7
M. & S. N. Y., Am. Exch. N. B’ k Sept. 1,1890
Concord—Stock.............................................................
142
50
....
1,500,000
5
M. <fe N. Bost.&Manchester.N.H. Nov. 1, 1886
■Concord <6 Claremont—Bonds......................................
71 1874 500 &c.
500,000
7
J. & J. Bost., Treasurer’s office
1894
Concord A Portsmouth,—Stock, guaranteed.............
41
100
....
350,000
3ia J. & J. Bost.&Manchester.N.H. June, 1886
Connecticut Central—1st mortgage, cp. or reg...........
29 1875 500 &c.
325,000
7
A. & 0.
New York City.
Oct. i , 1895
■Connecticut A Passumpsic—Stock............................... 147
100
....
2,500,000
213 F. & A. Boston, 95 Milk Street. Aug. 2, 1886
Mortgage bonds......................................................... 110 1873 100 &c.
1,500,000
7
A. & O.
do
April 1, 1893
Massawippi st’k, guar, same div. as Conn. & Pass.
37
...
100
400,000
do
213 F. & A.
Aug. 2 ,1 8 8 6
do
bonds, guar, by Conn. & Pass............
37 1870
1,000
400.000
6 g. J. & J.
do
JanT 1,' 1890
22 1881
Newport & Riohford bonds, guar, by C. & P ........
1,000
350,000
5
J. & J.
do
Jan. 1, 1911
Connecticut River—Stock.............................................
80
100
2,370,000
2
Quar. Boston, Springfield, &o. Oot. 1,' 1886
Connecting (Phila.)—1st mortgage...........................
7 1864
1,000
991.000
6
M. St S. Phila., Penn. RR. Offiee. 1900-’ l-’2-’3-’4
■Consol, RR. o f Vermont—1st mortg. (for $7,000,000) 185 1883 100 &c.
6,000,000
5
J. <fc J. Bost..Am. Loan&Tr Co. July 1, 1913
Missisquoi Railroad bonds........................................
1871 500 &c.
500,000
7
.1. & J. St. Albans, W. C. Smith. Jau. 1. 1891
■Corning Cowanesque A Antrim—Debenture bonds..
78 1883
1,000
1,250,000
6
M. & N. Phila. F. I. T. & S. D. Co. May 1, 1898
Cumberland A Pennsylvania—1st mortgage............
38 1866
1,000
803,500
6
M. & 8. N.Y., Consol.Coal Office March 1,1891
2d mortgage, sinking fund, (guaranteed)...............
38 1868
1,000
411,000
6
M. & N.
do
do
May 1. 1888
Cumberland Valley—Stock ($484,900 is preferred). I 82
50
....
1,777,850
213
Q .-J . Phila. and Carlisle. Pa.
Oct., 1886
000; all in $100 shares. A majority of the stock was held by the Rich"
C oncord Sc C la rem on t.—Owns from Concord to Claremont,
mond St West Pt. Terminal Co., and in May, ’86, this road was leased to
, miles; branch, Ooutoocookville to Hillsborough, N. H.,
the Rich. & Danville RR. Co. The gross earnings on all lines in 1884-85 In miles; leased—Peterboro & Hillsboro RR., 18 miles; total operated,
w eie $724,316; nets, $345,176; interest and rentals, $243,186; surplus, 89 miles. Capital stock. $110,900. Operated by Boston & Lowell RR.
$102,009. In 1883-t, gross earnings, $640,720; net, $190,676; interest Co. at a rental of $41,500 per year.
and rentals, $199,733; deficit, $9,056. (V. 40, p . 541; Y. 42, p. 21.)
Concord Sc P o r ts m o u th .—Owns from Portsmouth, N. H., to
C olu m bia Sc P o rt D eposit.—Owns from Columbia, Pa., to Manchester N. H., 40 4a miles.
The road was sold to first mort
Port Deposit. Md., 10 miles. Leased to and operated by Pennsylvania gage bondholders in 1857, and leased to Concord RR. in 1858. Lease
RR. Co. Rental, net earnings. Rental in 1885, $33,150 Capital stock, rental is $25,000 a-year, which gives 7 per cent a year to present stock
$497,100; fund. debt. $1,882,000, and floating debt (coups.), $907,550. holders. There is no debt.
C olu m bu s Sc C incinnati m id la n d .—Line of road, Columbus,
C onnecticut C entral.—Owns from East Hartford, Ct., to Massa
O ., to Clinton Va)., O., 71 m. Opened in Nov., ’81. Stook, $2,000,'*00. chusetts State Line, 20 miles; branch from Melrose to West Street, Ct., 7
Bonds are secured by a 50-years traffic agreement with the Baltimore miles; total operated, 28 miles. Leased to New York <&New England RR.
.& Ohio and Cin. W. St Balt, companies. Net earnings from July 1, for 15 years from June 1,1880, the rental to be net earningsTbut never
1885, to Jan. 1,1886, $44,500. Orland Smith, Pres., Cincinnati, Ohio.
to exceed 6 per cent per year ou stock. Capital stook, $148,530. Funded
C olu m bu s H o c k in g V alley & T o le d o .—(See Map.)—Owns main debt, $325,000, all owned by New York St New England Railroad.
line from Toledo to Pomeroy, 257 miles; branches—Logan to Athens, 26; —(V. 40, p. 181, 624; V. 42, p. 463.)
¡Logan to Straitsville, 13; Straits’e to Nelsonville, 17; others, 14; total,328.
Connecticut Sc P a ssu m p sic.—Owns from White River Junction,
This was a consolidation in July, 1881, of the Columbus St Hock Vt., to Canada Line, 110 miles; leased, Massawippi Valley and branch
ing Valley, Columbus & Toledo, and Ohio St West Virginia. The stocks (Canada), 37 miles; total operated, 147 miles. The lease of Massawippi
•of those companies were purchased and new consolidated stook for Railroad is at 6 per cent on bonds and same dividends as are paid on
$20.000,000 authorized; in August, 1885, a stock dividend of 139s per the stock of the lessee. In 1836 $225,000 new stock was issued and
-cent was made, bringing the total outstanding up to $11,700,000. Of the floating debt paid off. Fisoal year ends June 30. Abstract of last
the consolidated mortgage $6,500,000 was reserved to meet the prior report in V. 43, p. 303. Gross earnings in 1834-85, $797,528; net.
liens, and the “ Hocking Coal & RR.” joined in making these bonds. The $299,415. Gross in 1885-86, $758,930; net, $286,981. (V. 41. p. 3 9 1 ;
•Central Trust Co. of New York is trustee. The general mortgage of 18s4 V. 43, p. 308.)
■covers the road, an i is also a mortgage on the coal property of the
Couuectlcut R iv e r .—Owns from Springfield, Mass., to South Ver
**Hooking Coal & RR. Co.,” whose stock is owned by the C. H. & T.
non, Vt., 50 miles; brauches, 6 miles; leased Ashuelot RR., South
A combination was made in 1885 with the reorganized Ohio Central Vernon, Vt., to Keene, N. H., 24 miles; total operated, 80 miles. Fiscal
by whioh the company will be under one management, as per the circu year ends September 30. Net income, 1883-94, $269,794; 1884-85.
lar in V. 40, p. 59 7, and the C. & H. V. guarantees the interest on the $272,222. Pays regular dividends on stook and has no funded debt,
T. & O C 1st mortgage bonds.
but notes payable, $625,000. (V. 41, p. 688.)
The earnings of 18 84 were greatly reduced by the miners’ strike in
Connecting (P h ila d e lp h ia ).—Owns from Mantua Junction to
the Hocking Valley, lasting from June, 1884, to March, 1885. Annual Frankford
Pa., 7 miles. A connecting link in Philadel
report for 1885 in V. 42, p. 517; income for three years was as follow s: phia to theJunction,
West and South. Operated by Pennsylvania Railroad.
INCOME ACCOUNT.
Cental,
6
per
cent
on
capital
stook, $1,278,300; and interest on funded
1883.
1884.
1885.
debt, $991,000. The bonds are issued in series A B C and D, maturing
Total gross earnings.......................$2,779,382 $1,842,473 $2,311,003
respectively
in
1900-’l
,
’2,
’3
and ’4.
Operating expenses and ta x e s.... 1.655,570
1,210,654
1,333,697
C onsolidated R a ilro a d o f V e rm o n t.—Road owned—Windsor,
$601,819
$977,306 Vt., to Burlington, Vt., 123 miles; Essex Junction to Rouse’s Point. 65 ;
Net earnings...............................$1,123,812
total, 185 miles. Leased—Addison RR., 16 miles; M ntpelier & White
Disbursements—
Interest un bonds and car trusts..
866,060
866.060
884,564 River RR., 6; Montreal & Vt. Junction RR., j 26; Rutland RR., 1 2 0 ;
Other iuterest and miscellaneous..
59,353
79,091
85,9.8 Stan. S. & Ch. RR., 43; Vermont St Mass., 2 1 ; New London No., l o o
Brat. & Whitehall RR., 36. Total owned, leased and operated 553
miles. In August, 1884, secured control of the Ogdensborg St Lake
Total disbursements................ $ >24,413
$915,151 $9?d,54g
Balance.............................................sur. 199.399 def. 3 >3.332 sur. 6.76i Champlain RR.
This is the title of the corporation formed on the reorganization o f the
—(V. 40, p. 597, 610; V. 41, p. 102, 557; V. 42, p. 93, 304, 517,782,783 ;
Central Vermont and Vermont St Canada companies in 1833. On July
V . 43, p. 4 2 )
1,
1884, the old receivership was finally closed bv order of Court ana
C olu m b u s Springfield Sc C in cin n a ti.—Owns from Columbus,
Ohio, to Springfield, Ohio, 44 miles. Leased with Cincinnati Sandusky the transfer made to the Consol, of Vermont, which leased all its roads
in
perpetuity to the Central Vermont RR. Co. Preferred stock is $750,At Cleveland to Indiana Bloomington St Western, May 1,1881, for 3318
per cent of gross earnings, with guarantee of $80,000 as minimum. 000, with preference of 6 per cent per annum if earned; common stock,
3350,000.
In July, 1885, the Grand Trunk of Canada purchased a con
O f the excess over minimum, if any, on 33> 3 basis, this company takes
•one-fifth and Cincinnati Sandusky & Cleveland four-fifths. Capital trolling interest in the stock. The Central Vermont, whioh operated all
this
mileage
in 1885, reportedearnmgs as $2,533,938 gross ami $795,444
stock, $1,000,000, and bonds, $1,000,000.
n-t; rent of leased lines $357,750; interest and taxes, $389,633; sur
C olu m b u s Sc W e ste rn .—Owns from Opelika to Goodwater, Ala. plus,
$48.061. (V. 40, p. 269, 6 8 2 ; V. 43, p. 274,308.)
( 0 miles, and Columbus to Opelika, 29 miles—total 89 miles. The
orn in g C ow anesque Sc A n trim .—Owns from Corning, N. Y.,
Savannah & Memphis RR. was foreclosed June 5, 1880, and this Com toCAntrim,
Pa., 53 miles; branch, Lawrenceville to Harrison Valley,
pany organized. Extension was in progress from Goodwater to Birming Pa., 32; total
operated, 85 miles. Consolidation (January, 1873)
ham, Ala. The bonds are endorsed by Cen. RR. of Georgia. There are
the Blossburg & Corning RR. and the Wellsboro RR. June 1, 1874,
-also $260,000 bonds at 8 p. c. due Oct., 1890, int. A. and O. Gross of
the
Cowanesque
Valley
RR. was absorbed. These lines are leased to ana
■earnings in 1883-84, $176,315; net. $62,076; interest paid, $63,820. operated by the Fall Brook
Coal Co., together with 7 miles owned.
Gross in 1&84-5, $173,442; net, $53,987. Stock, $1,750,000. W. G. Rental paid—6 per cent on bonds,
6 per cent on common stook and 7
Raoul. President, Savannah.
cent on preferred stock; dividends paid quarterly, Maroh 31, &e.
C olu m bu s Sc X e n ia .—Owns from Columbus, Ohio, to Xenia, Ohio, per
Stock—common,
$1,500,000,
and
preferred,
$500,000. The coal line of
55 miles. Is operated as a division of the Little Miami, and is leased
& Reading and N. Y. Central is over the road of this company,
lor 99 years in connection with that road to the Pittsburg Cincinnati A Phila.
whioh
jointly
guarantees
the
bonds
of
the
Jersey
Shore Pine Creek Sc
¡St. Louis, whioh pays 8 per cent on stock and provides for the bonds. Buffalo road. Earnings in 1883-84, $591,627; net,
$171,753; rental
The lease is guaranteed by the Pennsylvania Railroad Company. The paid C. C. & A. RR., $150,000; surplus to lessee, $21,757.
Earningp in
Columbus & Xenia pays 825 per cent dividend per annum.
1884-85,
$607,595;
net,
$179,195;
rental
paid
C.
C.
& A , $150,000;
C o u c o r d .-Owns from Concord, N. H., to Nashua,N. H., 35 miles- surplus to lessee, $29,195. George J. Magee, Prest., Watkins,
N. Y.
Manchester & North Weare, 19 miles ; Hookset Branch, 7 miles ; leased—
C u m berlan d Sc P e n n sy lv a n ia .—Owns from Cumberland, Md.,
Concord & Portsmouth, 41 miles ; Suncook Valley, 20 miles ; Nashua
Acton & Boston, 20 miles; Manchester & Keene RR.. 30 miles; total to Piedmont, Md., and several branches, 55 miles. It is owned ana
•operated, 172 miles. Fiscal year ends Maroh 31. Annual report, in V operated by Consolidation Coal Co., which guarantees second mortgage.
42, p. 752. Income account was as follows :
C u m berlan d V a lle y .—Owns from Harrisburg, Pa., to Potomao
INCOME ACCOUNT.
River, Md., 82 miles; leased—Martinsburg & Potomac RR., 12 miles;
1882-83.
1883-84.
1884-85.
1885-86. Oiilsburg& Mechanicsburg RR., 8 miles; Southern Pennsylvania RR.,
Gross earnings............$1.317,880 $1,142.894 $1,100,864 $1,071,963 23 miles; controlled, Mont Alto RR., 18 miles, but accounts kept sep
Net earnings.............. $43u,318
$476,190
$406,379
$4521573 arate ; total controlled and operated, 141 miles. Owns or leases sev
Disb ursements—
eral factory roads, in all about 43 miles. The stock is owned in large
Rentals......................... $148,872
$144,593
$113.319
$112,532 part by Penn. RR. Co. Large advances have been made to branch roads.
Taxes on stock...........
33,798
37,360
37,755
36 872
Operations and earnings on the main line for four years past were:
Improvements, &c.. .
y7,264
143,236
104,091
152 314
Freight (ton)
Gross
Net
^-Div. p. ct.—
Dividends, 10per cent.
150,000
150,000
150,000
I ou’Oju fears.
Miles.
Mileage.
Earnings. Earnings. Pref. Com.
21,673,134
$762,886 $231,190 10
IO
1882 ................ 125
Total disbursem’ts. $429,934
$475,189
$405,165
$451,718 1883*.................. 125
30,018.284
871,389
237,564 10
10
Balance.................. ...... Sur. $384 Sur. $1,001 Sur. $1,214 Sur. $855 L884 ............. 125
27,965,208
844,515
215,230
9«a 9 1«
— (V. 40. p. 6 51 ;*V. 41, p. 355; V. 42, p, V 5 2 ,ÂV. 43,|p. 210.)
1885'................. 125 25,844,869 . 769,647
255,811
8
8
O ctober , 1886.]
RALLKOAD
STOCKS
A N D BONDS,
39
40
INVESTORS’
SUPPLEMENT
fVOL. X L l l l .
Subscribers w i ll confer a great fa v or by g iv in g im m ed iate n otice o f any error discovered in these T a bles.
DESCRIPTION.
Bonds—Princi
INTEREST OR DIVIDENDS.
Miles ! Date Size, or
pal,When Due.
Amount Rate per When
Par
For explanation of column headings, &c., see notes of
of
Where
Payable,
and
by
Stocks—Last
Road. Bonds Value Outstanding Cent. Payable
on first page of tables.
Whom.
Dividend.
Cumberland Talley—( Continued)—
52
$500<fcc.
1st mortgage...............................................................
$161,000
A. & O. Phila., T. A. Biddle & Co. A p rili, 1904
8
2d mortgage, sinking fund guaranteed..................
52
....
500 &c.
109,500
A. & O. Phila., Pa., Biddle & Co. A p r ili, 1908
8
24 . . . .
Southern Pennsylvania, 1st mortgage, gold........
....
625,000
7 g. M. & S.
Mar. 1. 190Ó
Danbury &Norwalk—Stock........................................ 36%
50
600,000
2% Various New York and Danbury Feb. 15,1886
1st and 2d mortgages.................................. ............
33 ’70-’72 100 &c.
400,000
7
J. & J. N. Y. Nat. Bank Repub.
1890-92
Consolidated mortgage.............................................
....
1880
100,000
6
J. & J.
do
do
1920
General mortgage...................................................... 36% 1883
100
150,000
5
A. & O. N. Y., Cent. Trust Co.
1925
Dayton <&Ironton—First mortgage, g o ld ..................
1,000
155 1885
1,300,000
6 g. J. & J. Bost., Intern’l Trust Co. Jan. 1, 1925
Dayton <6Michigan—Com. stock (3% guar.C.H.&D.) 141
50
2,403,171
1 % A. & O. N. Y., H. S. Ives & Co.
Oct., 1886
Preferred stock, (8 percent, guar. C. H. & D .)___ 141 1871
50
1,211,250
2
Q.—J.
do
do
Oct., 1886
1,000
3d mortgage..................... . . . . . . . . . . . . . ..................... 142 1869
351,000
7
A. & O.
do
do
Oct.,' 1888
Consol, mortgage, guar, by C. H. & D ....................
1,000
142 1881
2,324,000
5
J. & J.
do
do
Jan. Ï , 1911
Toledo Depot 2d m ortgage.................................... . . . . 1864
53,000
7
M. & S.
do
do
March Ï, 1894
1,000
32 1879
Dayton <&Union—1st mortgage..................................
225,000
7
J. & D. N.Y., Am.Exch.Nat.Bk. Deo. 1,' 19Ò9
1,000
Income mortgage bonds............................................
1879
173.000
6
J. & D.
After 1910
1,000
Dayton <6 Western—1st M., guar. L. M. and C. & X .
41 1864
495.000
6 & 7 J. & J. N.Y., Bank of America.
25
Delaware—Stock............................................................
....
85
1,531,738
3
J. <& J.
Dover, Co.’s Office.
July 2j 1886
1,000
Mortgage bonds, convertible, guar. P. W. & B ___
85 1875
650,000
6
J. & J. Phil., Fid. I.T.&.S.D. Co. July 1, 1895
....
....
Delaware <&Bound Brook—Stock, guaranteed.........
31
1,692,000
2
Q.—F.
Philadelphia.
Nov. 17, 1886
....
1st mortgage...............................................................
1,500,000
27 1875
7
F. & A. Phila.,Guar.T.&S.D.Co. May, Ì905
2d mortgage debenture bonds, reg.........................
192,000
6
M. & N.
Philadelphia.
50 26,200,000
Delaware Backawanna & Western—Stock................
....
886
1%
Q.—J. N. Y., 26 Exchange PI. Oct. 20, 1886
Consol, mort., on roads <&equipm’t, ($10,000,000) 288 1877
3.074,000
7
M. & S.
do
do~
Sept. 1,1907
___
1,000
Plain bonds (not mortgage).....................................
1872
600,000
7
J. & D.
....
Del. Maryland <£ Ta.—June. & Breakwater—1st M.
47 1860
400,000
4
J. & J.
ISOO
Philadelphia.
....
Juno. & Breakwater, 2d m ortgage.........................
47 1879
250,000
4
F. & A.
1 «99
....
Breakwater & Frankford, 1st mortgage, r e g .......
20 1873
200,000
4
J. & J.
do
1898
Worcester Railroad, 1st mortgage, coupon............
36
400,000
4
A. & 0.
do
isatì
Too
Denver &Bio Grande—Stock ($45,500,000)............. 1.317
(?)
100
Pref. stock, 5 per ct.. non-cum. ($28,000,000)___ 1.317
(?)
6,382,500
1st mort., gold, sinking fund.................................. | 295 1870 500 &c.
" 7*g. M.'& N.
N. Y., Agency.
Consol, mortgage, gold (for $42,000.000)............. 11,317 1886 l 1,000
(?)
4 g. J. & J.
do
do
July, 1936.
D an b u ry & N orw alk..—Owns irom Danbury, Conn., to Wilson
1882.
1883.
Point, South Norwalk, Conn., 26% miles; branches to Ridgefield and
s
$
$
Hawley ville, together 10 miles; total operated, 36% miles. In July, Gross rec’ts, all sources. 27,006,267 32,819.606 31,311,992 31,091,677
1886, a lease of this road was made to the Housatonic for 99 years, the Operating expenses___ 20,163,078 24,165,864 23,393,180 23,663,754
lessee to pay interest and 5 per cent per annum on stock. Net earnings Net receipts.................. 6,843,189 8,653,742
7.918.812 7,427,923
in 1884-5 were $80,129. (V. 43, p. 334.)
INCOME ACCOUNT.
D ayton & Ir o n to n .—Road from Dayton to Ironton, 155 miles
This company was organized in 1884 as successor to the Southeastern
Division of the Toledo Cin. & St. Louis RR., sold in foreclosure June 26,
1884. The narrow gauge is changed to standard, and the total author
ized issue of bonds is $1,700,000, including $400,000 reserved to pay
old claims. Preferred stock is $2,600,000; common stock, $2,500,000. (V.
41. p. 720; V. 42, p. 487; V. 43, p. 102.)
D ay to n & M ic h ig a n .—Owns from Dayton, O., to Toledo, O., 141
miles. Leased May 1,1863, in perpetuity to the Cincinnati Hamilton &
Dayton. Lease amended January 23,1870. The rental is the interest
and sinking fund of debt, and 8 per cent on preferred stock and 3*2 per
cent on $1,003,300 common. Of the common stock $1,003,300 only is
guaranteed 3% by C. H. & D. Profit to lessee in 1883-84, $161,990;
1884-85, $196,387 The lessees hold $1,399,273 of the common stock.
D ay to n & U n io n .—Owns from Dodson, Ohio, to Union City, Ind.,
32 miles; leased Dayton to Dodson, 15 miles; total operated, 47 miles.
The Greenville & Miami RR. was sold out Oct. 30,1862, ind re-organized as now in Feb, 1863. Operated by trustees since December, 1871.
Capital stock, $86,300. In 1883-4 gross earnings were $136,633; net,
$41,136. In 1884-5 gross earnings, $135,140; net, $45,694.
Net receipts................... 6,843,189
Interest and rentals___ 3,620,708
Balance, surplus.......... 3,222,481
Dividends..................... 2,096,000
Rate of dividends.......
8
Balance after divid’ds. 1,126,481
8,653,742
4,946,943
3,706,799
2,096,000
8
1,610,799
7.918.813
5,113,322
2,805,490
2,096,000
8
709,490
7,427,923
5,187,039
2,240,834
1,965,000
7%
275,834
Assets—
1882.
1833.
1884.
RR. buildings, equip
$
$
s
m’t,ooallands,&c.. 32,072,860 33,089,336 34,250,418
Stks&bds.,own’d,cost 5,763,146
6,503,851
5,449,713
Net cash & cur. aoc’ts
*377,851
*147,987
*527,121
Materials, fuel, & o...
1,342,820
1,265,810
1,049,712
Total.................... 39,556,677 41,007,034 41,276,965
Inabilities—
Stock.......................... 26,200,000 26,200,000 26,200,000
Funded debt.............
4,044,900
4,044,900 4,044,900
Balances....................
600,000
439,560
Snrplus accou n t.......
8,711,777 10,322,574 11,032,065
Total liabilities......... 39,556,677 41,007,034 41,276,965
* Net balance between liabilities and assets.
—(V. 41, p. 190, 558; V. 42, p. 155, 2 7 0 , 604.)
1885.
$
34,508,047
5,374,918
*357,562
941,372
41,181,899
GENERAL BALANCE AT CLOSE OF EACH FISCAL YEAR.
26,200,000
3,674,000
11,307,899
41,181,899
D a y t o n & W e s t e r n .—Owns from Dayton, O., to State Line, Ind.,
37 miles. Leased in perpetuity from Jan. 1, 1865, to Little Miami,
D elaw are M aryla n d & V ir g in ia .—Consolidation June 1,1883 ,
and carried with that road in the general lease to the P. C. & St. L. The
of the Junction & Breakwater, the Breakwater & Frankford and the
lessees are virtual owners and are answerable for all obligations.
Worcester railroads. Road extends from Harrington to Lewes, D e l, 40
D e la w a re .—Owns from Delaware Junction (P. W. & B.), Del., to miles, and from Georgetown to Franklin City, Va., 55 miles; branon to
Delrnar (Md.Line), 84 miles; branches, 16 miles; total operated, 100 Rehoboth, Del., 5 miles; total, 100 miles. In July, 1885, the oompany
miles. The Dorchester & Delaware and Queen Anne & K. railroads passed into control of the Phila. Wil. & Balt. RR. and became part of the
now operated by P. W. & B. RR. The Delaware Railroad was opened Penna. RR. system.—(V. 41, p. 133.)
1855-60, and is leased for 21 years from 1876 to the P. W. & B.
D enver & B io G rande (3 feet.).—Owns a line from Denver
C o.; rental 30 per cent of gross earnings, but stock must have 6 per City, Colorado, via Pueblo, Salida, Gunnison, Montrose and Grand
cent. Gross earnings 1884-85, $644, L17; net, $193,235; interest and Junction, to the western boundary of Colorado, where it connects
dividends, $130,734; surplus, $62,501; 1883-84, gross, $637,573; net, with the Denver & Rio Grande Western, to Salt Lake City and Ogden,
$191,272; interest and dividends, $130,590; surplus, $60,681.
making the distance from Denver to Ogden 771 miles, and from Pueblo
to Ogden 651 miles. Brs. extend to Leadville, Dillon, Red Cliff, Crested
D ela w a re & B o u n d B r o o k .—Owns from Bound Brook (Cent, Butte, Silver Cliff, Chaffee and Hot Springs; also from Pueblo to Silverton,
of New Jersey) to Delaware River, 27 miles; branch, main line to via Cuchara, Alamosa and Durango, with branches to ElMoro, Española,
Trenton, 4 miles; total operated, 31 miles. In connection with Central Del Norte and Wagon Wheel Gap; total oper. Jan. 1, ’86,1,317 miles.
of New Jersey and North Pennsylvania forms a line between New
Default was made on the consolidated mortgage interest due July 1,
fo rk and Philadelphia. In May, 1879, the property was leased for 1884, and W. S. Jackson was appointed receiver.
990 years to the Philadelphia & Reading Railroad Company—the lessee
Foreclosure was made under the consolidated mortgage, and the road
paying interest and 8 per cent on stock after May, 1883. Gross earnings was sold July 12 for $15,000,000. Reorganization was made July 14,
in 1385, $689,432; net, $381,916. In 1884, gross, $729,157; net, 1886, under the title of Denver & Rio Grande Railroad! Co., and W. S.
$315,446; rental $257,880; net profit to lessee, $57,566.
Jackson elected President; Geo. Coppell, Vice-President, with the fol
lowing board of directors: George Coppell, Adolph Engler, R. B.
D ela w a re L a c k a w a n n a & W e ste rn .—(See I f op).—This company Mintum, George T. Wilson, John J. Hadiger, John L. Welch, Theodore
operates under lease an extended system of roads in New York, Penn H. A. Troinp, W. S. Jackson, and D. H. Moffatt.
sylvania and New Jersey. Owns from Delaware River (N. J. line) to New
Under the reorganization plan the bonds and stock will be as follows:
York State line. 115 miles; branches—Scranton to Northumberland, Old 1st M. bonds, due 1900, are to remain as they are. $42,000,000 4
80 miles; Greenville to Winton, Pa., 8 miles; to Storrs, 3 miles; Junction per cent consol, gold bonds to be issued, of which $6,382,500 will be re
to Keyser Valley, Pa., 5 miles; leased lines in New York—N. Y. Lack. & served to retire tne old bonds when due; $19,740,500 will be issued,
Western RR., 214 miles; Cayuga & Susquehanna RR., 34 miles; dollar for dollar, for the old consol, bonds; $3,451,200 to be issued for
Greene RR. 8 miles; Oswego & Syracuse Railroad, 35 miles; Utica $2,876,000 car trust certificates at 120: $6,900,000 to be retained for
Chenango & Susquehanna Valley RR., 97 miles; Valley RR., 12 miles; acquiring the Den. R. G. & W. or to extend the D. & R. G. to Ogden,
controlled and operated—Syracuse Binghamton & New York, 81 miles; and $5,525,800 to be held in the treasury, which can be issued only:
leased lines in New Jersey—Chester RR., 10 miles; Morris & Essex, 118 with the consent of pref. stockholders. $28,000,000 pref. stock, 5 perot.,
miles; Newark & Bloomfield, 4 miles; Warren RR., 18 miles; Sussex, 30 non cum., to be issued as follows: $13,818,350 to old consols, for overdue
miles; Passaic & Del., 14; total operated, 886 miles; the Rome & Clin., coupons a n l reduction of interest; $2,500,000 to gen. mor. bondholders,
13 miles, and Utica Clin. & Bing., 31 miles, were surrendered April, 1883. $1,030,400 to oar trust cert, holders, $4,560,000 to holders of common
In 1882 the important connection to Buffalo, the N. Y. Lack. & West, stock, and $6,091,250 to be retained in the treasury. $45,500,000 cornwas opened, and the road was leased b y this company. The Lackawanna stock, of which $38.000,000 to be exchanged, dollar for dollar, for old
& Bloomsburg was consolidated with this company June 19,1873.
stock and $7,500,000 to be held to acquire the Den. & R. G. West., or to
The Delaware Lackawanna & Western Railroad publishes no annual build the line to Ogden. The general mortgage bonds are assesse d 2%
report in pamphlet form but merely a circular showing income per ct. and receive for each $1,000 and unpaid coupons $1,000 in pref.
account and balance sheet. The road was operated mainly as a coal stock; or without assessment receive $900 in same stock. Common
carrier and distributer till 1882, when the line from Binghamton to stock assessed $6 per share, for which double [the amount in preferred
Buffalo was built and leased to the Delaware Lackawanna & Western stock is given.
and the company entered the field as a competitor of the trunk lines
Gross earnings for eight months from Jan 1 to Aug. 31,1886, were
between New York and Buffalo.
$4,104.662, against $3,846,835 in 1885; net, $1,423,905, against $1,The Delaware Lackawanna & Western formerly paid 10 per cent on its 274,375.
stock, but its numerous railroad leases became onerous, and in the dull
The receiver’s report for 1885 was in V. 42, p. 603.
times. 1876 to 1880, no dividends were paid; in 1880 3 per cent was
Earnings, expenses and net income for four years were as follows, no
paid; in 1881. 6%,; in 1882,1883, and 1884, 8 ; in 1885, 7%.
earnings or expenses of the Utah leased lines being included in 1884 or
Prices of stock yearly since 1870 have been: 1871,102®111%; 1872 1885 :
91® 112%; 1873, 79%® 106; 1874, 99®112%; 1875, 106%®123; 1876
1882.
1883.
1884.
1885.
64%®120%; 1877, 30%®77: 1878, 41®61%; 1879, 43®94; 1880,681« Miles oper. Dec. 3 1 ...
1,282
1,679
1,317
1,317
®110% ; 18 8 1,107®131; 1882,116%®150%; 1883, 111%®131%; 1884
$
$
$
$
86%® 133%; in 1885, 82%®129%; in 1886 to Oct.. 23,115® 143%.
Total gross earnings.. 6,404,980
7,361,546
5,552,103 6,119,054
The following is a synopsis from the company’s income account for Operating expenses .. 3,821,123
4,743,111
3,758,530 3,935,273
four years; the operating expenses include amounts spent for better
ments: $443,182 in 1885, $385,033 in 1884, $1,072,816 in 1883, and Net earnings............. 2,583,857
2,618,435 1,793,573
2,183,781
$931,701 in 1882.
P. c. of exp. to eam’s.
59-66
64-43
67-70
64-31
BONDS.
AND
STOCKS
R AILR O AD
O c t o b e r , 1886.]
4 3
INVESTORS’
SUPPLEMENT.
[ Y ol. X L ! ! ! .
Su bac ri ber» w ill confer a great favor by g iv in g i o .n id ia te uotice o f any error discovered tu these rabie»
DESCRIPTION.
Bonds—Priuoi
IN TEREST OR DIVIDENDS.
Miles Date Size, or
Amount
Due
For explanation of column headings, &c., see notes of
of
Par
Rate per When Where Payable, and by pal,When
Stocks—Last
Outstanding
on first page of tables.
Road. Bonds Value.
Cent. Payable
Whom.
Dividend.
Dcnv.dt R.Gr.West.—1st, g. ($16,000 p.m.),cp.or reg.
Coupon certificates (see V. 41, p. 2 7 3 )..................
Denver South Park dt Pacific—stock___.
.......
1st mortgage, gold, sinking fund___.......................
Consol, mort. gold ($17,000 per mile)
Denver Texas dt Gulf—1st M. (for $12,000,000)
Deg Moines dt FI. Dodge—1st mort., coup........ .
1st mortgage, incom e..................................
Mortgage on extension......................... .’ ’ " [ [ ........
Certificates secured on lands.................."...............
Dee Moines Osceola dt Southern—1st M.($6,o66p.'m.)
Detroit B'iy City dt Aliena—1st M., v old..................
Detroit Grand Haven dt Milwaukee—S tock ..........'.V.
1st equinmeut mortgage, guar..........................
Consolidated mortgage, guar......................
Detroit Hillsdale dt S. IP.—Stock.................. "
Detroit Lansing dt North.—Stock, common...............
Preferred stock.................................................
1st mortgage...............................
Ionia & Lansing, 1st mort., coup., may be reg
Saginaw & West. mort.. guar. ($15,000 per mile).!
Detroit Mackinac dt Marquette—1 st mortgage .
Land grant bonds (income).....................................
Income bonds..........................................
Dubuque <6Dak.—1st M., gold. gu. (payable at 105)
Dubuque dt Sioux City—Stock............... ....................
1st mortgage, 2d division.........................
Notes to retire 1st mortg. (redeem, at pleasure)..
Duluth A Winnipeg—1st mortgage, gold, land grant
2d mortgage, income.................................................
Dunkirk Alieyh. Valley dt Pittsburg—1st mort., gold
2d mortgage...............................................................
368
274
150
__
88
88
56
....
300
83
189
189
189
65
261
261
222
59
32
152
....
63
143
43
....
___
___
90
90
1881
1885
__
1876
1880
1885
1874
1874
1881
1880
1883
1878
1878
....
....
1877
1869
1883
1882
1881
1881
1879
1864
1888
1881
___
1870
1870
$ 1,000
300
100
1,000
1,000
___
1,000
1.000
1,000
$6,900,000
(?)
6,23 >,400
1,800,000
2,925,000
In trust.
1,200,000
1,200,000
672.000
75,666
....
879,000
1,000
720,000
50
1,500,000
1,000
2,000,000
200 &c.
3,200,000
....
1,350,000
100
1,825,600
100
2,510,000
500 &c.
2,487,000
1.000
770.000
1,000
476,000
1,000
2,280.000
1,000
4,550,000
1,000
1.500,000
1,000
630,000
100
4,999,950
500 &c.
588,000
__
295,900
1,000 18,000 p.m.
___
7,000 p.m.
1,000
2,000,000
1.000
1,000.000
6 g.
D
4
7
6 fir.
6
6
6
6
M. & S. Last paid March, 1884
M. & 8
New York.
M. & N. N.Y., London^; Frankf’t.
J. & J. N. Y., Co.’s Agency.
A. & O.
J. & J. N. Y., Morton, B. &Co.
J. & J.
do
do
J. & J.
do
do
7
J. & ‘ j . Last pai l Jan. 1885.
J. & J. N. Y., Farm. L.& Tr. Co
26 g 6
6
2
3
3*2
7
8
6
6
7
7
6g2
7
5
6 g.
T g.
7
a .&T o .
A. & O.
J. & J.
F. & A.
F. & A.
J. & J.
I. & J.
J. & J.
A. & O.
A. & O.
New York & London.
do
do
N. Y., Farm. L. & Tr. Co
Boston.
do
Boston, 2d Nat. Bank.
do
do
do
do
Last paid, April 1884.
do
do
J. & J. N.Y., John Paton & Co.
A. & O N.Y., John Paton & Co.
J. & J.
do
do
M. & N. N. Y., Central Trust Co.
Sept. 1, 1911
At will.
Aug. 15, 1 rS0>
May 1, 1905
Jan. 1. 1921
Oct., 1921.
June 1, 1905
June 1, 1905
June 1, 1905
"Í8 9 0
1913
Deo. 31, 1884
Nov. 14, 1918
Nov. 15, 1913
July 5, 1886
Aug. 15, 1884
Aug. 16, 1886
Jan. 1, 1907
July 1, 1889
July 1, 1913
Oct. 1, 1921
Oct. 1, 1911
Oct. 1, 1921
July 1. 1919
Oct. 15,1885
July, 1894
1888
May 1, 1911
J. &"d . N.Y., N.Y. Cent. & Hud. June, 1890
A. & O.
do
do
Oct. 1, 1890
INCOME ACCOUNT.
1882.
$
2,583,857
36,771
2,618,435
114,531
1884.
$
1,793.573
34,401
Total income............ 2,620,628
Disbursements—
Interest on debt........ 1,602,443
Ren’lo f D.R.G.W. RR.....................
Taxes and miscellan’s
298,306
2,7.32,966
1,827,974
2,036,813
317,752
246,234
225,213
Receipts—
Net earnings...............
Other receipts........ .
1883.
Oa nsviUe. Mo.,1s built. In April, 1885, a receiver was appointed. Stock
1885.
is?a®,i> $o00,000. $7.000 p. in ; bonds, $6,0'>0 p. ra. Iu Aug.,’84 oonsoL
$
2,183,780 with Wis. Ia. & Neb. RR. (V. 40, p. 454; V. 42, p. 22, 549.) S
67,227
D etroit B ay City Ac A lp en a .—Road from Alger, on Mich. Cent
2,251,007 RR., to Oscoda, on Lake Huron, and the ce to Black River. 83 miles •
b® 25'®“ '®dJ® AiPena>V m'Ua- Built ia
an l has a traffic con
tract from Mich. Central. In 1884 net earning« on 48 miles were $79 512.
and
in
1885
$78,296.
The
full
83
miles
was
first
operated in 1886
572,364
Stock is $2,006,000, but none issued to June 1, 1886. (V. 42, p. 728.)
Total disbursements.. 1,900,749 2,600,799
............
572,364
Balance, surplus
719,879
132,167
............
1,678 643
—(\. 41. p. 76,102,113,133, 189, 241, 306, 330, 356, 420, 445, 4*2
556, 584, 688, 720; Y. 42, p. 60, 93, 197, 215, 304, 364, 430, 487, 575
6 0 3 , 753< Y. 43, p. 49, 73, 131, 487.)
’
*
D enver Ac R io Grande W e ste rn (n a rro w grange).—The mort
gage covered lines in Utah Territory of about 469 miles in all, of
which there were completed 368 miles, Colorado State Line to Ogden
Ut., 310 miles. Bingham Junction to Alta, 18 miles; Bingham Junc
tion to Bingham, 16 util, s; P. V. Junction to coal mines 17 miles; other
coalm in s, 6 miles, The stock issued on 469 miles $7,500,000. About
$ 1,000,000 bonds have also been issued on road only par'iall.y coinEleAe<I- J-u August, 1884, W. H. Bancroft was appointed receiver of the
D. & R. G. W.
Bondholders have generally accepted the proposal of August. 1885.
v iz->that; the coupons from Sept. 1.1886, to Sept. 1,1888. inclusive,
shall be paid one half in cash and the coupon of March, 1889, threefourths cash. Scrip bearing 5 per cent interest is given for the coupons
from March, 1884. to Sept., 1885, and for the portion unpaid of those
maturing up to Sept.. I f 89, the scrip may be redeemed by the company
at! its option by payment in full, and no dividend on stock can be raid
tile it is redeemed. Tne full interest on bonds is $414,000. but under
the plan it will be $205,689 in 1886 and $253,575 in 1887.
In April. 1886, an agreement was made to work harmoniously with
*5® D- & R. G., and he rolling stock to go into ownership of the D. & R.
G. W., thus saving rental.
ior J ear ending June 30,1886, were $1,075,542;
net, $3,4,996 ; rental of rolling stock, $43,231; surplus, $331.761.
Rental fo rolling stock is no longer paid. For two mouths fro u July 1
244,)
D en ver South P a rk & Pacific (3 f t .) —(See Map o f Union
Pacific).- Denver,Col., to Nathrop, 137 miles; Nathrop to Gunnison, 65
miles; Gunnison to Mount Carbon, 17 miles; Garos to London Junction,
15 “ dies; Como to Keystone, 35 miles; Bear Creek Junction to Morrison.
10 miles; Dickey to Leadville, 34 miles; Como to Mines, 4 miles;
Schwanders to Buena Vista, 4 miles; total, 321 miles. First mortgage
bonds issued at the rate of $12,000 per mile of finished road. In Ocf
1880, the consol, mortgage was made for $15,000,000, to be at $17 000
per mile on whole road, old and new, less the amount of 1st mortgage
the old. Stock owned by Union Pacific is $6,135,100 and consol
mort. bonds $2, / 97,000, and the Union Pacific operates the road, hut has
made no guaranty of the stock or bonds, and alter paying unearned in
terest for some years the U. P. on May l, 1886, at first Offered to pur
chase the coupons of the 1st mort. bonds then Jailing due, but after
wards Withdiew the offer; hut subsequently paid the coupons. In 1884
gross earnings, $1,194,069; deficit on operations, $296,991; deficit unmteresT &c $549,193. In 1885 grnssearnings^l,[45,494? deficit,
jf I 6>12y 5 deficit under interest, &c., $320,869. (V. 42, p. 519, 548, 631
(>•74,)
.
9
9
D en ver T ex a s Ac G u lf.—Projected from Denver, via Pueblo to the
Canadian Riv., 350 miles, and to Jan.l, 1886, Denver to Pueblo. 124 miles
and 13 miles branches, had been completed. Built by a Construction
Company. See circular in V. 35, p. 601. On 1883 the Construction Co
^
^
baiP \ ed and $2,286,000 bonds and $2,540,000 stock pledged
were sold by the Mercantile Trust Co. on Sept. 20. On March, 18, 1886
Den. & n o . road was sold and this company organized. Bunds are
The^rn
° { $ 15>0d0 I1®* mil®, and $15,000,000 is authorized!
*®sue& are in hards of a trustee, to he held till the
—(V. 41,^.^41^494^ Y.’ df, ^ 3 3 8 , 393.) Jn°*
Pres% Denver.
9iUcalr ) Md' ^
Pau1, First 87 miles originally a divc tbe lies Momes Valley R R ., built In 1870 and sold out ha
1873. Common stock, $4,283,000; preferred, $758,280.
couI)on8>Ja“ i885 to July 1886 inclusive, will be paid one-half
£ g 6? e r “ enTfnterest ® Company’8 notes due Jan- 1-888, and bear-
D etroit G rand H a v e n Ac M ilw a u k e e .—Owns from Detroit.
ehlCr w t0 -Pfa AMi Ha^en>M“ b: ' 189 miles- Tuis Is a reorganization of
tb^ r- OIt & Milwaukee which was sold in foreclosure Sept., 1878 A
sufficient amount of first equipment mortgage bonds is reserved to
f®1™ B®tr®lt & P- bonds on maturity. The bonds were guaranteed by
the Gt. Western of Canada. Gross earnings in 1885, $1,154,640: net
gr° 88’ $1)254’ 391; “ e*5» $333,626. Report for 1885
1? lll8 .?a i e * Sou th w estern .—Owns from Ypsilantf..
Mich., to Bankers, Mich., 65 miles. The Det. H. & Ind. road was sold
ifofficr«10
a
I f ’, 1ileased
874, t ?in
d perpetuity
tWs ®oiaPaQy
organized
by the
holders. In Aug.,
1881,
to the
Lake Shore
& bond
Mich.
Southern Co.; the rental is $54,000 per year -4 p. et. (V. 43, p. 399.)
D etroit L a n sin g & N orth ern .—Owns from Grand Trunk
Juno., Mich., to Howard City, Mich., 157 miles; branches—Stanton Juno.
toBig Rapffis, Mich., 63 miles; Belding Branoh, 1^ miles; leased, Grand
Trunk Juno, to Detroit, 3 miles; Lansing to No. Lansing, 1 mile- St
Louis to Alma and Lake View, 36 miles; total operated, 261 miles’ a T
consolidation, Apl 11, 1871, of the Detroit Howell & Lansing, the Ionia.
" -“jMisinsr and the Ionia Stanton & Northern railroads, under the nameor Detroit Lansing & Lake Michigan RR., which was sold in foreclosureDec. 1.4,1.876, a,nd new stock issued as above. In July, 1883, leased
the Saginaw & Western and endorsed the bonds.
The annual report for 13»5 was in V. 42, p. 518, showing 7 per cent
earned on the pref. stock. Income aceouut as follows :
FISCAL RESULTS.
Miles of road oper’d.
Earnings—
Passenger..................
Freight.......................
Mail, express,
1882.
225
$410,712
1,136,863
49,562
1883.
260
$452,778
1,090,0 L5
53,6.1?.
1884.
261
$380,338
8 •3,444
54,310
1885.
261
$344,372;
824,93d'
59,160
Total gross earn’gs. $1,597,142 $1,596,414 $1,328,592 $1,228,470
Expenses and taxes. 1,136,060
1,053,570
365,276
771,271
$461,082
$537,874
Net earnings..........
- (V . 40, p. 4 5 2 ; V. 42, p. 186, 518.)
$463,322
$457,190
D etroit M a ck in ac Ac M arqu ette.—Owns from Straits of Mack
inac to Marquette, 152 miles; branch projected to Sault St. Marie».
48 miles. This road is Intended to form, in connection with others
already built, a line along tne south shore of Lake Superior. The land
bonds receive 25 per cent of net proceeds of land sales as their yearly
Income. In October. 1884, default was made. Road sold in foreclosure
Oct. 20.1886. The plan of reorganizan, n gives the old Ist morlg. bond
holders two thirds of their holdings in Dul. So. Shore & Allan. 1st mort
bonds and pat- in new pref. stock. Income bonds to receive pref. stock
at par. Land grant bonds retain their lien on the lands covered by tneir
mort. and receive 35 per cent in new common stock. Old stock receive
60 per cent in new common stock. Gross earnings for 1885. $219.138 *
net, $20,686. (V. 43, p, 274,479.)
'
’
D ubu qu e dc D a k o ta .—Owns from Waverly to Hampton, 41 miles,
and from Sumner. Ia., to Waverly, la, 23 miles. Built on the old grading
of the Iowa Pacific. The Dubuque & Sioux City Co. guarantees the bonds
issued for construction to tlie extent of $10,000 per mile. Bonds may
paid off at any time at 105. Pref. stock $420,000 and ordinary stock
$159,500. Gross earnings in 1884, $71,720; net, $23,073. Gross in
1385, $67,783; net, $8,17.9.
* ■
D u jm qu e dc Siou x City—(See Map o f Illinois Central).—0..n a
from Dubuque, Iowa, to Iowa Falls, 143 miles. The former Dubuque &
Paciüc was foreclose*i in I860, and present company organized. Leased
to Illinois Central from Oct. 1,1867, for 20 years, the lessees agreeing
to pay 35 per cent of gross earnings for ten years and 36 percent for
next ten years, with privilege to make the lease perpetual at the latter
rate. Gross earnings in 1885, $>09,472, against $922,304 in 1884
In 1885 rental from lessee $284,356; other income, $22,310; total net,
$307,165; Interest, paid, $55,570; dividend of 4 per cent. $199,976;
miscellaneous, $8,0 .3; balance surplus. $13,586; total surplus Deo. 31,
18 8 5,^ 2 0 0 ,2 67 ^ M. K. Jesup, President, N. Y. City. (V. 40, p. 240,
D u lu th dc W in n ip e g .—Prqjected from Duluth to Manitoba
boundary line, 280 miles. The land grant amounts to 1,800,000 acres,
0 2 9 8i?et Ifm V ggn
t e a l ’652- 1 1884, gross earnings were $354.- which is subject to the first mortgage. The stock is $5,000,000. Wm.
o ’ $101,660. In 1885, gross earmngs were $382,420; net, $120
W. Spalding, President, Duluth.
420. See annual report, V. 42, p. 364. (V. 42, p. 124, 364.)
D u n k irk A lleg h en y V a lley Ac P it ts b u r g .—Owns from Dun
D e s | M o in e s O s c e o la dt S o u t h e r n . -Projected from Des Moines kirk,
N. Y., to Titusville, Pa., 91 miles. A consolidation of the Dunkirk.
O
c t o b er ,
R A ILR O A D
ifc3é.}
STOCKS
AND
43
BONDS.
m m ediate notice o f an y error discovered In these Tables
U'inds—Brinci —
INTEREST OR DIVIDENDS.
•al. When Due.
Miles I Date Size or
Amount
When Where Payable, and by Stocks—Vast
Par Outstanding Rate per
of
of
Dividend.
For explanation of column headings, &c.,see notes
Whom.
Payable
Cent
Road. Bonds Value.
on first page of tables.
S u b s c r ib e r s
'i l l center a great favor by g iv in g
DESCRIPTION.
D unkirk Allegh. Ycd. ¿Pittsburg—(C ontin ued j3d mortgage.................................. - - ....... ■:...........
East Broad Top—1st mortgage, registered..........
East Pennsylvania—Stock.......................................
1st mortgage..............................................
East Tennessee Virginia, dk Georgia—Common stocK.
1st preferred stock (5 per et. non cum.).................
2 d preferred stock (5 per ct. non cum .)......
Consol, mort., gold (for $20,000,000) coup, or reg.
Consol, mort., ••Divisional” bonds . ........................
Old 1st mortgage sinking fund bonds.....................
2d mortgage to U. S. Government..........................
Alabama Central, 1st mortgage, gold, coupon---Knoxville & Ohio, 1st mort., gold. . . . . . . . . . . . . - - -~l
E ast dk West Alabama -1st M.. gold ($10,000 p. m.).
Eastern (Mass.)—Stock........ ............................
Essex R R .lst mort. (extended for 10 years)..
f Mortgage funding certificates............................
Eastern (N. H.)—Stock..........................................
Eel River—Stock....................... ................... -.*.-**•
Elisabeth. Lex.dkBig Sandy—1st mortg., gold—
C. & O. Equipment Trust................ - ......... ---•
Elmira Cortland & Northern—ls tp re f. m ort...
1st mort...............................................................
Elmira Jeff.dk Canandaigua—Stock....................
Elmira dk Williamsport—Stock, common.. . . . . . .
Preferred stock....................................................
1st mortgage bonds.......................................
Income bonds, 999 years to run.......................
E rie <6 Pittsburg—Stock.........................................
$200,000
90 1870 $1,000
500,000
1,000
30 1873
1,714,950
50
36
495,900
36 1858 I 100 &c
100 27.500.000
,123
11,000,000
100
,123
18.500.000
,123
1,000 11.175.000
,123 1886
1,000
552 1880
1,000
242 1870
1872
1,000
'9 5 1879
1,000
66 1885
1,000
112 1882
100
285
1851 100 &c
1876 500 &c
100
16
100
94
1,000
110 1872
)
)
Ï2Q 1884
)
120 1884
)
100
47
)
50
77
)
50
77
)
1,000
77 1860
)
500
1863
)
50
100
7
4
3
7
....
....
" 6 ' sc.
5
7
4
6
6 S6
3
6
6 g.
2^4
1
6 g.
6
6
3, 4, 5
3
2 ifl
3*2
6
5
1%
A. & O. N. Y., N. Y. C. & H.
J. & J. Phiiadelp’a, Co.’s Office.
J. & J. Phila., by P. & R. RR.
M. & S. Plnla., P. & R. office.
••••
Oet. 1.
July 1,
July 20,
Mar. 1,
M."&*N. N. Y., Central Trust Co.
do
do
J. & J.
do
do
J. & J.
do
do
J. & J.
do
do
J. & J.
do
do
J. & J.
J. & D. N. Y., Am. Ln. & Tr.Co.
Bostou.
J. & J.
Boston, Office.
M. & S.
M. & S. Boston and London.
Boston,
by Treasurer.
J. & D.
Q .-M . Boston, by Treasurer.
N.
Y.,
Mills
Building.
M. & S.
Nov. 1, 1956
July 1, 1930
July 1, 1900
Jan. 1, 1887
July 1, 1918
July 1, 1925
Deo. 1. 1912
July 15.1873
Sept. 15,1886
Sept., 1906
June 15,1886
Ang. 15, 1884
Mar. 1,1902
A. & O.
J. & J.
M. & S.
M. & N.
J. & J.
J. & J.
A. & O.
Q .-M .
115 B’way, New York.
do
do
Baltimore, N. Cent. RR.
Phüa., Penn. R. R. Co.
do
do
do
do
do
do
N. Y., Union Trust Co.
1890
190
1886
1888
April 1, 1914
April 1. 1914
S ept., 1888
£jov. 1, 1886
July 1, 1886
j au. 1, 1910
Oot. 1. 2862
Sept. 10,1886
In March, 1883, a lease of this road to the Boston « mamo
vuku
for fifty-five years, but in November, 1884, this
deer
illegal in some respects, and a new one was negotiated for 54 years,
from Oct. 1,1883, on the basis of combining the total «arnmgs. payinj
all charges, and dividing the surplus income as follows . 1. To B. & M.
<R630 000 (9 ner cent on its stock); to Eastern. $100,000 for sin Kin,s
fund; to B? &6]Vl ! ^ 0,000; to Eastern, $336,000; balance to he spenl
by lessee on both properties pro-rata. Mortgage “ otes are $684,300,
secured by real estate. The last annual report for
Sent. 30, 1885, gave the foEowing result of operation with Boston &
Maine. Surplus to be divided. $834,511; divided, in accordance with
the terms of the lease, as foUows:
T o B os.& M . To Eastern.
Boston & Maine Railroad (9 p. c .)......
$630,000
$ ------Eastern Railroad.....................................
gAk
Boston & Mnine Railroad (1 p. o.)..........................
/u,uuu
q i' *Yl
Eastern Railroad, balance...................................... ............
’
T tm n e sg e s V ir ii iu la Sc G e o r g ia ,—(See Map.) The East
Total ...........................................
$700.000
$134,511
l i S n e i e e Virginia & Georgia Kailroail o'aj m m im .rf ^aet^Ter^nessee
-(V . 40, p. 27,508; V. 41, p. 527,688, 720; V. 42. p, 694.)
Virginia
¿^¿,„,.„¡7, d r +1»« Knoxville & Ohio RR., and the Alabama
E a s te r n (N . H . ) —Owns from Portsmouth, N. H., to Seabrook
Ä
RR S Ä
a Ä Ä S s Ä s June 30,1885. made up as fol (Massachusetts State Line), 16 inUes. It was formerly leased for 99
lo w s : Brist™ to Chattanooga, Tenn., 242 m =Morristown to Unaka 44 m ; vears to the Eastern (Mass.) Railroad, and a new lease was made from
Knoxville, Tenn., to Jellico, 66 m,; Cleveland to 8elma, 2o4 ur- Selma to Oet. 1,1878, for 60 years and two months at $22,500 per year, equal to
Meridian, 113 in.; Ooltewab to Cohutta, 11 m.: Rome, Ga.. to Macon, 159 41^ per cent per annum. Moody Currier, President, Manchester, N. H.
„ .
to Brunswick, 19o m.; Cochran to Hawkinsville, 10 m.
K el R iv e r .—Owns from Logansport., Ind., to Butler, Ind., 94
The company owned 1,080 miles of railroad and used 18 miles more.
miles This was formerly the Detroit Eel River & Illinois Railroad,
sold under foreclosure July 6, 1877, and reorganized under present
31i» m ami the Florence and Somerville br ches, 20 miles, m all 330 m., name Dec. 10,1877. In August, 1.879, it was lea.8®d
^en^ n er
makin«- a total of 1,453 m. of owned and leased lines.
.
. Louis & Pacific Railroad for 99 years, at a rental of 3 per cent per
The lease of the Mem. & Char. RR. was an operating lease simply, and annum on the stock for two years, 4 per cent for three years, isgd*
various differences were settled by the1 acquisition of a majority of t e per cent thereafter. Default by lessee on the rental was made in 1884.
capital stock of the Mem. & C. Co. by parties conti-olling theE
—(V. 41, p. 585.)
Seeiu V. 41, P. 1»2, the arrangement by which the $ 2,000,O<)0 or K;n >x
I m e & Ohio bonds ¡road Knoxville to J ellico) wer^ disposed of and other
E liz a b e th to w n L ex in gton & B i g S a n * y •~Eoad
’
««i-iirififts taken. The E. 1’. Va.& Ga. holds a m <jority of the K.& p. stoex. 18-,5, Lexington to Junction, with A.C. & I. Co., near Denton, 102 miles
A. C <fc 1. Junction to Big Sandy River, 7 miles; total owned 110 miles
In January 1*85, default was made on tue consol, mortgage
re ce iv X w e re a p p o in te i, and the plan of reorganization was given in Leased Junction with A. C. & I Co., near Denton to A. c * 1 . ■
Sfc
ih e rHRoNif-LE, V 42,pp! 155 and 186, embracing the scheme ot fore West Side Big Sandy River to Huntington, 9 miles total operate^ 139
miles Charter permits extension to Elizabethtown. It is the connect
closure* under the consolidated mortgage and the issue of »
ner cent mortgage for $2- ,000 000. The road was sold pursuant to this ing line of the Chesapeake & Ohio and controlled bv the same P itie s .
nlan o.i the 2.Mh day of M ty, 18*6, and reorganized as tbe E ist Tenn. Authorized capital of the company
charter to increase it to $ 10,000,000 to build
Elizabethtown. Amount issued $3.217,900, and $ -9 i ^ »6 to be issuea.
The annual report for 1885 was in V. 42, p. 4(>l. ^
’
from Jan. 1.1886, gross earnings were $o80,349, against #4 ib,9» u ,
Ihetha? G e ^ r S m ^ Ä ; .
net 81^7 418 aD-aiust $147,973. In 1884, net earniugs were $2o8,052; ali fixed’ charges, $224,717. For year 1885 gross earnings were
Tmlblrd Jg O Moss (Baltimore & Ohio RR, Co.,, Henry Fin*, E. J $'06,943; net $244,001; rentals and interest, *216, '20. (V. 41, p. l b l ,
Sanfurd. R. H. Richards; -Samuel Thomas, Presiueut; Henry Fink, \ice 527, 653; V. 42, p. 60, 124, 2x2, 3 3 8 ,3 6 5 ,4 6 1 ,6 9 4 .)
President’ James G. Mitchell, Secr.-tary and treasurer.
.
E lm ira C ortland Sc N orth ern .—Elmira. N. Y., to Canastota, N.
The fiscal year ends June 30. The annual report for 1884-8
Y., 120 miles, of which Elmira to Horseheads, 5 miles, aad Cortland^to
published in the Chkoniule, V. 41, p. 6 t l :
De Ruyter, 20 miles, are leased for
0rganrtet AWy
INCOME ACCOUNT.
11,1878, as successor of the Utica Ithaca
Elmira RR.
foreelosed
Anril-iO
1878
Again
sold
in
foreclosure
Feh„
1884,
an
l re or^anizea
18
5
86.
1884-85.
R eoeivts1882-83
188.3-84.
$4,118,826
as'at;1
present/
T
h
fistm
o
rt
for■
$1^.250,000
bears
3
Total gross earnings..$3,776,784 $4,173,263 $4,021,567
p ct. for 2 years, then o p . ot. Stock is $2,000,000. Gross earnings in
Net earnings................ $1,393,082 $1,699,925 $1,288,343 $1,495,516 1884-5, $325,147; net income, $79,316;
^ 75>^08 >
Disbursements—
surplus, $3,411. Austin Corbin. President, New York City.
$1,402,995 $1,468,651
Interest on d e b t...---62,213
R im ir a T e ffe rs o n Sc C an an daigu a.—Owns from Canandaigua,
Other interest.............
« j ’ZZ®
147,754
49,617
N V K
t o
" y ., “ miles.
The road was foreclosed and
T a x e s... ......................
^4,768
M iscella n eou s.........
reorganized under ¿resent name Feh. 18,1859. ^
lL se^ rtn sfefred
York & Erie for 20 vears from Jan. 1,1859, and tne lease transierrea
to
N
Cem
RR.
in
l
866
at
a
rental
of
$25,000
per
year.
Lease termi
Total dishursem’ts.$ l,576,599 $1,452,612 $1,678,618
nated Jan., 1379, and road now operated at cost by North. Cent., whteh
Balance................... def.$183,517sur.$247,313def.$390,275
company owns the whole stock. Gross earnings m year ending Sent. 30,
1885.8286,187; net, $51.164; interest, taxes, &0., $ol,b99 , def. 535.
<V 41 T) 102 1 7 4 ,189,241.306, 3 5 6 ,4 7 2 ,5 5 6 .5 7 8 ,6 1 0 ,6 1 1 ,7 4 4
V (L . n 6 0 1 2 4 ,1 ^ ,1 8 6 , 207. 272, 364, 430, 463, 479, 549, 575, 631, In 1833-84, gross $312,317; net, $50,154.
« ¿1 ,6 6 3 , 694, 7^8, 782, 703 ; V. 43, p. 22, 125, 217.)
E lm ir a Sc W il lia m s p o r t .—Owns rrom Williamsport, Pa., to
Elmiin. iL
76 nnles. This company was reorganized under the
■Wast & W e s t R R . C o . o f A la b a m a .—Road will extend from nreftfW name Feb 29,1860, and leased to the Northern Central
•G-ninpsville Ga to Birmingham. Ala., and branches, 2 0 1miles, of which wav ter 99™ velrsfrom May 1,1863, at a rental of $151,500 per annum
2fZufl«Te.i to Ju’ v; 1« 8 6 ,112 miles; an extension of 95 miles is also com 5 S r Z l V l S
The d * a m d . on tie «nnmon Btoo| j t e | £ » « g f
t^mnlated In addition to the above $800,000 bonds,
0,0 o tnore of anil on the preferred 7 per cent. Gross earmngs m 1884-5,
,
so me issue are hr lu by several stockholders as a **contingent liabdicy, not%27377 >orsurplus to lessee, $95,372 Gross earnmgs in 1883-4,
t Ä t e r e s t X r i e being on the $8»0,000 only. Income b.mds for $3oO,- $777,166; net $226,383; surplus to lessee, $52,1/8.
OOO aie to be ^ u e i ter the floating deh^ Stock i S l ^ per unie
authorized), $1,109,000. Gross earnings m l 88o, $130,110, net, $49,892.
Erie & P it t s b u r g .—Owns from New Castte^^Pa.. i^ U ^ le a s ? ^ *
82 miles; brauen,
^rie Docks, 3 ^
d> ^ 1865lg63
ii, Dock Junction to Brie
ira s t e r n (itta ss.)—Owns from Boston, Mass., to New Hampshire Gir artt to Erie, 15 miles; total operatedlOOmdes. Road
lim it e s ; branches-Salem to Marblehead, 4 m ü es;ß ev er ltw as leased to the PennsylvaniaRR. for 999^eare n o
^
l e f to Gloucester, 17 unies; Salisbury to Amesbury, 4 miles ; Revere 1870, at a rental of 7 per
The lease has
and the lease was transferred to the Penns^vama
Wnrrpn * Pittsburg and Warren & Venango in 1872. Is leased to N. V
Central & Hudson River Co., but accounts are kept separate. .Capital,
S l S . 000. There is usually an ^ u u a l deficit below ^ ^ t e r e ^ c h m ^ .
t u t the N. Y Central & Hudson River 0 0 ^ 0 ^ 9 2 0 , 0 0 0 of the seeuu
.ties. Gross earnings m 1883-8 4, $2 / j , / xu , ueuuu,,
1884-85, $ 2 l6 ,7 9 o; deilcit, $6,769.
«
^ Wl,Ail jj rmATl i p « \_Owns from Mount Union, Pa., to Roberts*
Ä
a
r
s
a
Ä
S
m
ifM i» »
In 1884-85 gross earnings were $89,070; net, $16,003. In 1880 84,
gross, $85,539; net, $19,405.
w , - . , p a n n s v lv a n ia ,—Owns from Reading, Pa., to^Allentown, Pa.,
<16 miles It is leased for 999 years from May 1,1869, to the Philadel
phia & Reading RR., at a rental of 6 p^ hcep ieaidenTReadäg^6 8
and interest on the bonds. James F. Smith, President, Reading.
S s ; ^ o iie b o r o Railroad, 12 unies; total
operated, 285
miles.
$307,841, and in 1885, $354,633.
INVESTORS’
SUPPLEMENT.
fVoL.
jttjtt
O c t o b er , 1886. J
R AILR O AD
STOCKS
AND
BONDS.
45
Subscribers w i ll confer a great favor b y g iv in g im m ediate notice o f a n y error discovered in these Tables,
Bonds—Princi
INTEREST OR DIVIDENDS.
DESCRIPTION.
pal,When Due.
Miles Date Size, or
Amount Rate per When Where Payable, and by Stocks—Last
Par
of
F or explanation of column Readings, &c., see notes o f
Outstanding Ceni. Payable
Dividend.
Whom.
Road. Bonds Value.
on first page of tables.
Erie <&Pittsburg—( Continued>—
A. & O. N. Y., Union Trust Co. Mar. 1, 1890
7
$91,800
1865 $100& c
2d mortgage, convertible.........................................
July 1, 1898
do
do
J. & J.
7
2.485.000
1,000
1868
Consol, mort. free of State tax (for $4,500,000)...
Oct. 1, 1900
do
do
A. & O.
7
685.000
1,000
1870
Equipment bonds................................................... .
Oct. 15, 1886
Bangor.
2.500.000
213 A. & O.
100
European <&No.American—Stock, guar. 5 per c t ....
July 1, 1924
N.Y..
Farm.
L.
&
Tr.
Co.
J.
&
J.
6
699.000
1,000
1884
Evansville <&Indianapolis—1st mort., E. & I............
Sept.
1, 1909
do
do
M. & 'S.
7
260.000
1879
Terre Haute & Southeastern—1st mort..................
Jan. 1, 1926
New
York.
J.
&
J.
1.001.000
6
g.
i*,òb"o
1886
Ev. & Ind. Consol, mort. (for $2,500,000) g old ....
Oct.
1,
1886
Company’s Offloe.
Q .-J .
3.000.
000 1
50
Evansville <&T. Haute—Stock..................................
J. & J. N.Y.,Farm. L’an& T.Co. July 1, 1887
7
246.000
1,000
1852
1st mortgage, Evansv. &I11., sink, fund...........
Nov.
1,
1887
do
do
M. & N.
7
606.000
1,000
1854
1st mort.Evans.& Cr.,sink.fund,(Evansv. to T.H.)
July 1, 1921
do
do
2.148.000
1,000
6 g- J. & J.
1881
1st consol, mort., gold (for $3,000,000)............
April
1,
1923
do
do
200,000
6 g. A. & O.
1,000
1883
1st mort., Mt Vernon Branch, gold (for $375,000)
775.000
6 g. M. & N. N.Y.,Farm.L’an & T.Co. May 1, 1900
1,000
1870
Evansville Terre H. <&Ohio.—IstM ., gold,int. guar..
Jan. 1, 1902
do
do
J.
&
J.
325.000
6
g.
1,000
1872
2d mortgage, gold......................................................
July 1, 1886
Boston, Offloe.
5,286,500
2% J. & D.
100
Fitchburg—Stock........................... ...............................
1894 to 1903
do
A.
<
fe
O.
a,
6
&
7
4.507.000
1,000
74-’81
Bonds, coupons, ($4,950,000 authorized).............
April 1, 1893
Worcester,
City
Nat.
Bk.
5 & 7 A. & O.
390.000
100 &0.
Boston Barre & Gardner, 1st m ortgage................. 38^
July 1, 1895
do
do
3
186,300
do
2d mortgage....................................
July 1, 1895
do
do
6
J. & J.
57,300
1881
do
3d mortg. (convertible into stock)
6.500.000
2ia J. & J. N. Y., Mer. Ex. Nat. Bk. July 17,1886
Flint <£ Pere Marquette—Preferred stock.................. 361
Oct. 1, 1920
do
do
3.924.000
1,000
6 g. A. & 0.
302 1880
Reorganization mortgage, gold ($5,000,000)........
10
M. & N. N. Y., Meehan. Nat. B’k. Mav 1, 1888
300.000
17 1868 500 &c.
Flint & Holly R R .......................................................
M. & S. N.Y., Merch.Exch. N.Bk Sept. 1, 1887
10
75,000
500
Bay County, issued in aid, guar, by lessees.............
J. & J. N.Y., Merch. Nat. Bank. Jan. 1, 1901
1.000.
000 8
1,000
1871
Holly Wayne & Mon., 1st mort., sink, fund, guar.
2.808.000
5 g- J. & J. Last paid, Jan., 1835. April 1, 1922
1,000
1882
Florida Railway <&Nav.—F. C. & W., 1st mort., gold
M. & S. Last paid. March, 1885. Mar. 1, 1911
6
1,000,009
1,000
1881
Florida Transit—1st mortgage..................... -v..
J. & J. Last paid. Jan., 1835. May 24, 1906
7
250.000
1,000
1876
Peninsular of Florida—1st m ortgage............... .
4,042,000
6
g.
Q.—J. Last paid, July, 1885. July 1, 1924
1,000
1884
Fla.Ry.&.Nav., consol, mort. gold.....................
J. & J. Last paid, Jan., 1885. July 1, 1923
6
380.000
1,000
1883
Fernandina & Jacksonville...............................
J.
& J. N. Y., St. Nioh. Nat. B’k. July 1, 190o
7
300.000
1870 100 &o
Fonda Johnstown dk Gloversville—1st mortgage .
May 1, 192
do
do
A. & O.
6
200.000
1830 100 &o
Consol, mortgage.................................................
A.
& O. Last paid April, 1833. April 1, 190
320,000
7 g.
1880 500 &o.
Fort Madison <6 Northwestern—1st mort., gold..
E u rop ea n Sc North. Am erican« — Owns from Bangor, Me., total amount of cash collected in 1885 was $191,574. Annual report
to Vanceboro (State Line), Me., 114 miles. Road was worked in for 1885. in V. 42, p 486. Earnings and operations for four years past
connection with the St. John & Maine, making an unbroken line from w ere:
OPERATIONS AND FISCAL RESULTS.
Bangor, Me., to St. John, N. B., 205 miles. On Aug. 31, 1882, a lease
1882.
1883.
1884.
1885.
was made to the Maine Central for 99 years, for $125,000 per annum,
...........
346
361
361
361
Miles
O
D
e
ra
te
d
equal to 5 per cent per annum on the stock, and assuming the bonded
debt of $1,000,000, which is given under Maine Central.
Passengers carried__ $994,225 $1,048,496
$882,659 8757,102
E v a n sv ille & In d ia n a p o lis.—Owns from Evansville, Ind., to Passenger mileage__..29,546,975 32,213,590 27,231,295 23,380,115
Terre Haute, Ind. (via Worthington), 135 miles; branch to Lancaster, 3 Freight (tons) m oved.. 1,137,589 1,442,884
1,229,679 1,135,270
miles; total, 138 miles. This company was a consolidation in Oct. ’ 85, Freight (tons) mileage..92,953,733 123,112,615 101.989,077 98,250,979
of three corporations, viz.: the Evansville & Indianapolis, the Evansville Rate per ton per m ue.. 1-42 ots.
1-39 cts.
1-26 cts.
1*31 cts.
Wash. & Brazil and the Terre Haute & Southeastern railroads. Of the
$
$
Earnings—
$
$
consolidated mort. bonds, $1,260,000 are reserved to meet prior liens. Passenger.....................
735,067
636,750
795,839
874,641
The consolidated bonds are guaranteed by the Evansville & Terre F r e ig h t........................ 1,317,042
1,457,169 1,247,333
1,610,510
Haute Co. Capital stock, $2,000,000. Edwin Taylor, President.
60,752
62,657
Mail, express, &o..........
67,342
57,792
E v a n sv ille & Terre H a u t e .—Owns from Evansville, Ind., to
2,252,983 1,946,790
2,542,943
. 2,180,223
Terre Haute, Ind., 109 miles; Owensville branch and extension, 37
1,515,461 1,347,840
1,735.517
miles; total operated, 146 miles. The Rockville Extension, 23 miles
1 1,432,209
additional, is leased to the Terre Haute & Logansport for 99 years from
598,950
737,527
807,426
748.014
Nov. 1, 1879. Formerly the Evansville & Crawfordsville RR. Co. The
69-23
67-26
68-25
6615
20 per cent stock dividend of 1884 was the distribution of $500,000 P. c. of op. ex. to earn..
INCOME ACCOUNT.
which had been held for some time in the treasury. To meet the bonds
1885.
1884.
1383.
1882.
failing due in 1887 the Co. has $852,000 of the consol, bonds. Annual
$737,527 $598,950
$307,426
. $748,014
report for 1885-6 in V. 43, p - 486. Gross earnings year ending Aug.
31, 1886. $761,981'; net, $386,801; in 1884-85, gross, $718,823; net,
Disbursements—
329,499
337,223
318,623
309,024
$357,600. (V. 41, p. 472, 5 2 6 ; V. 42. p. 463, 575; V. 43, p. 458, 4 8 6 .)
otereston debt...
260,000
455,000
455,000
422,500
E v a n sv ille Terre H a u te & C h icago.—(See Map o f Chicago Dividends.............
4,226
Miscellaneous........
East Illinois RE.)—Owns from Terre Haute Junction, Ind., to Dan
_____ - ________
ville, 111., 49 miles; leased, 6 miles; total operated, 55 miles, It uses 6
Total
disbursem’ts..
731,524
773,623
792,223
593,725
miles of the track of the Rockville Extension into Terre Haute; also
leases the Indiana Block Coal road, 15 miles. On April, 30,1880, a Balance for the year...sur. 16,490 sur. 33.803 def. 54,696 sur. 5,225
lease to the Chicago & Eastern Illinois was made for 999 years; terms, —(V. 40, p. 53 9, 763; V. 42, p. 4 8 6 ; V. 43, p. 49.) .
F lo r id a R a ilw a y & N av ig a tion .—Miles owned as follow s:
$75,000 per annum and the assumption by the C. & E. I. of all rentals
and taxes paid by E. T. H. & C. The bonded interest was reduced to 6 Jacksonville to Ctiattalioocliee, 209 miles, and brandies from Tallahassee
to St. Marks, 21 m iles; and from Drifton to Monticello, 4 m .;
per cent and preferred stock for $100,000 issued for overdue coupons;
common stock, $600,000. Josephus Collett, President, Terre Haute. Ind. Fernandina south, 179 miles; Waldo to Cedar Keys, 72 miles ¡W ild
F itc h b u r g .—Owns from Boston, Mass., to Fitchburg, Mass, (double wood to Leesburg, 2 2 ^ miles; Hart’s road to Jacksonville, 22J3 m.;
track), 50 nules, and B. Barre & Gard. RR., Worcester to Winchen- total, 529 miles. In March, 1884, the Florida Central & Western, Florida
don, 36 miles; branches—Charlestown, 1 mile; North Cambridge Transit & Peninsular, Fernandina & Jacksonville and the Leesburg &
to Waltham, 7 miles; South Acton to Marlborough, 12 miles; Indian River railroads were consolidated under this name. There have
Peterborough & Shirley, Ayer, Mass., to Greenville, 24 miles: Ashburn been issued $16,000 6 per cent consolidated bonds, with $13,000
Tia.m branch, 3 miles; leased and operated—Vermont & Mass. RR.; of preferred and $13,000 of common stock on each mile constructed
Fitchburg to Greenfield, 56 miles; Turners Falls Branch, 3 miles; and equipped. Of the above F. C. & W. bonds $1,000,000 are a
Trov & Greenfield RR.. Greenfield to North Adams, 37 miles; total, 193 preferred lien “ series A,” the balance of the issue being known as
miles. The Troy & Greenfield RR. and the Hoosac Tunnel, owned by the “ series B.” In’Oct.,1885, areceiver (Mr. H. R. Duval) was appointedfor
State of Massachusetts, have been operated by this company, and are the whole property, and in February, 1836, was authorized to spend
now contracted to it for seven years from Sept. 30, 1880. There are $800,000. It is stated that this step is taken in order to raise funds to
notes out for $351,500- In May. 1885, 5 per cent new stock was sold put the road and equipment in condition and to narrow the gauge in
at par to stockholders, and also stock for absorption of Boston Barre & conjunction with other Southern roads, B. S. Henning. President, N. Y.
Gardner RR. stock on basis of one share Fitchburg for ten of B. B City. Gross earnings for 1834, $1,001,590; net, $38o,198; interest,
$343,900. (V. 41, p. 494 ; V. 42, p. 215.)
& G. The annual report for 1884-85 was in Ch ronicle , V. 42, p. 92.
F o n d a J o lin sto vvu Sc G lov ersv ille.—Owns from Fonda to
The income account for four years past (ending Sept. 30) w a s:
1883-84.
1884-85 Gloversville, 26 miles. The stock is $300,000. Gross earnings in
1882-83.
1881-82.
1883-84,
$158,680; net, $65,295; surplus over all charges and 9*3 per
$
$
Receipts—
$
$
673,159 cent dividend, $3,719. Gross earnings in 1884-85, $160,324; net,
666,752
670,737
444,843
Net earnings............
$68,568;
surplus over charges and 9*3 per cent dividend, $3,384. W.
71,130
58,500
107,000
161,000
Premiums and rents
J. Heacock, President, Gloversville, N. Y.
725,252
744,290
F o rt M a d iso n & N orth w estern .—Narrow gauge road from Fort
777,737
605,843
Total incom e........
Madison, la., to McKee, la., about 45 miles. Stock, $425,600. De
Disbursements—
246,809
252,581 fault on bonds was made October, 1834, and in July, 1^85, a receiver
230,164
239,572
Rentals p a id ............
200,000
220,688 took possession, and it was proposed to issue new bonds at $14,000 per
177,500
152,500
Interest on debt.......
12,332
mile, change the gauge and complete the full line of l00 miles and
51,225
46,229
Other interest..........
247,500
297,000
272,250
retire old bonds by some settlement with the holders, either giving them
297,000
Dividends.................
(6)
the new bonds or otherwise. C. A. Gilchrist, Receiver. (V. 40, p. 337,541.)
(6)
(5)
Rate of dividend___
(7)
F o rt W a y n e Sc J a c k so n .—(SeeMap L. Shore <6 M. S.)—Owns from
720,769 Jackson, Mich., to Fort Wayne, Ind, 97 miles. The former Fort Wayne
731,391
755,889
735,301
Total disbursem’ts
def.6,139 sur.23,521 Jackson & Saginaw made default on its bonds and was sold ,in
Balance..................... def.129,458 surp,21,848
foreclosure Dec. 3,1879. On Sept. 1,1882, leased perpetually to L. Shore
—(V. 40, p. 337, 481, 569, 625; V. 41, p. 585; V. 42, p. 92.)
& Mich. South, at a rental of $126,027, equal to 5 ^ per cent on the pref.
F lin t & P e r e M a r q u e t t e .—Owns from Monroe, Mich., to Luding- stock, and after 1887 any net earnings over 8 per cent on pref. stock to
ton, Mich., 253 miles; branches—Bay City to East Saginaw, 12 be paid as dividend on common stock, but not exceeding 2 per cent a
miles; Flint Junction to Otter Lake, 20 miles; South Saginaw branch,
5 miles; Harrison branch, 30 miles; Manistee branch, 26 miles; ^ F o r t W a y n e C in cin n ati Sc L o u isv ille .—From Fort Wayne,
Saginaw & Mount Pleasant Railroad, 15 miles; total operated, Ind., to Connorsville, Ind., 104 miles; branch to Rushville, Ind., 24
362 miles. A Receiver took the old company in June, 1879; the miles; total operated, 128 miles. The Fort Wayne Muncie & Cincim
road was sold August 18,1880, under the consolidated mortgage, and nati Co. defaulted and a receiver was appointed Nov., 1874. The road
reorganization was made and preferred stock ($6,500,000) issued for the was sold in foreclosure, July 27, 1881, to Elijah Smith, for the bond
consolidated mortgage bonds, and common stock ($3,500,000) is to be holders, for $1,000,000. The bondholders reorganized under this name.
issued for the old stock. The common stock has no present right to vote Gross earnings in 1884, $246,397; net, $33,358. Gross in 1885, $227,or to receive dividends, and will be issued only after the preferred 841; net, $22,509; interest paid, $7,000. Elijah Smith, Pres’t.N. Y.
F o rt W o r t h Sc D enver City.—From Fort Worth, Tex., northwest,
stockholders have received 7 per cent yearly dividends for five con
secutive years. The preferred stock is not cumulative, and after 7 per to Harrold, Tex., 144 miles. Stock, $20,000 per mile, $2,880,0 00; par
value
of shares, $100. The report for 1885 was in V. 42, p. 27L wross
cent per annum is paid on both classes of stock, the balance of income,
if any, is to be divided ratably. In 1886 the common stockholders earnings year ending Oct. 31, 1885, $448,711; net, $197,632; nxea
_
__.
took steps looking to the relief of their stock from its onerous limita charges, $154,200; surplus, $43,432.
For ten months, Nov. 1 to Aug. 31. in 1835-6, gross earnings w
tions, owing to the payment of dividends on the preferred stock at 7
$319,510, against $365,239 in 1884-5; net, $ i 14,981, against $161,736,
per cent for a few years and then at a reduced rate.
,
On Jan. 1, 1886, the land notes (principal and interest) on hand for Morgan Jones, Pres., Fort Worth. (Y. 41, p. 23, 133, 241, 3. ,
lands sold were $376,312, and lands yet unsold 95,914 acres. The . 612, 688 ; V. 42, p. 22, 215, 2 7 1 . 463, 479, 549, 782; Y. 43, p. 49.)
46
INVESTORS’
SUPPLEMENT.
[V o l . X L lr i,
Subscribers w ill confer a great favor by giv in g Im m ediate notice o f any error discovered in these Tables.
DESCRIPTION.
Bonds—Prinol.
INTEREST OR DIVIDENDS.
Miles Date Size, or
pal,When Due.
Amount Rate per When
of
Par
of
Where Payable, and by Stocks—Last ’
Outstanding
Road. Bonds Value.
Cent. Payable
Whom.
Dividend.
Fort Wayne <£Jackson—Pref. stock, (8 per cent)___
97
....
$ ....
$2,287.832
2% M. & 8. N Y.,Farmers’ L.&Tr.Co Sept. 1, 1886
Common stock.............................................
97
—
—
431,747
....
Fort Wayne Cincinnati & Louisville—Stock
128
4,000,000
Notes
i,òrio
1883
100,000
7
J. & D.
Boston.
June 1, 1893
Fort Worth, <£ Denv. City—1st M.,gold ($25,000 p.m.) Ì44 1881
1.000
3,6n0,000
6 g- J. & D. N. Y., Mercantile Tr. Co. Dec. 1, 1921
Frederick <&Pennsylvania Line—1st mortgage........
28 1870 500 &c.
250,000
6
A. & 0. Pennsylvania RR. Oo.
Oct. 1, 1900
Galveston Efarrisb.<£ 8.Antonio—1st mort, gold, 1. gr, 256 ’71-’80 1,000
4,756,000
6 g- F. & A.
Feb. 1, 1910
2d mortgage....................................................
1,000
226 1880
635,000
7
J. & D. N. Y., Drexel, M. & Co. June 1, 1905
Western Division, 1st mortgage, gold.......
1,000 13,418,000
671 1881
5 g. M. & N.
New York.
May 1, 1931
do
do
2d mortgage
1,000
671 1881
6,354.000
6
J. & J.
July 1, 1931
1,000
50 1833
2,000,000
5
A. & O.
New York.
A p r ili, 1913
Geneva Ithaca <6 Sayre—1st mort., s. f., gold........
35 1870 100 &c.
600,000
7 g. J. & J. N. Y., Metrop. Nat. B’k. July 1, 1890
Georgia Pacific—1st mort., $10,000 per mile.......
1,009
313 1882
3,173,000
6
J. & J. N. Y.. Central Trust Oo. Jan. 1, 1922
2d mort., income ($15,000 p. m .).......: ................
202 1883
1,000
3,891,000
6
A. & 0. N. Y.. Mercantile Tr. Co. Oct. 1,1923
Georgia Railroad <6Banking Co.—Stock...............
100
307
....
4,200,000
2^
Q .-J . Am.Ex.Bk., N.Y.,&Aug July 15. 1886
Bonds, not mortgage..............................................
500
....
100,000
7
I. & J.
18!'0
•__ 77&80 1.000
Bonds, not mortgage ($300,000 mature in 1922)
2.300,000
6
J. & J.
’97,1910,1922
Macon & August a, 1st mortgage.........................
1,000
77 1867
275,000
7
J.
&
J.
Jan.
1, 1887
Grand Rapids <&Indiana—Stock............................
100
367
4,985,081
1st mort., land grant, gold (guar, by Pa. RR)...
1,000
367 1869
3,934,000
*7*g. J. &“ j .
Oct.
1. 1899
1st mort., gold, ($675,000 are land grant)..........
1,000
367 1869
1,441,000
7 g. A. & O.
Oct. 1, 1899
Six per cent mortgage..........................................
1,000
367 1884
2,700,000
6
M. & N.
Nov.
1,
1899
Consol, mortgage for $13,000,000, coup, and reg! 367 1884
1.000
3,217,000
5
M. & S.
Sept. 1, 1924
Mortgage (gold; on Muskegon Division................. . . . .
1,000
1886
750.060
5
g1926
Green Bay Winona <6St. Paul—1st mort. c o u p .. . . .
1,000
219 1881
1,600,000
6
F. & A. N. 7.Farmers’ L.&Tr.Co Feb. 1, 1911
2d mort. income bonds, reg.. non-cuinulative....... 219 1881
1,000
3,781,000
8
M. & N.
None ever paid.
May 1, 1911
Gulf Colorado <&Santa Fe—1st M., g. ($12,000 p.m.) 778 1879
1,000
9,340,000
7 g. J. & J. N.Y.Nat.City Bk.&Galv. July 1, 1909
2d mortgage ($8,000 per mile), gold...................... 625 1885
1,000
5,50", 000
6 g- A. & O. New York, liât. City Bk. Oct, 1, 1923
Hannibal <&St. Joseph—Common s to ck ....................
292
100
9,168.700
Preferred stock (7 p. c. yearly, not cumulative).
292
100
5,083,024
3
F. & A. N. Y., Companv’s Office Feb. 15,1883
Consolidated mort. (for $8,000,000)....................... 292 1881
1,000
6,589,000
5 & 6 M. & S. N. Y., Bk.of No. America. Mar. 1,1911
Bonds Quincy & Palmyra RR......................... .......
....
15
433,000
8
F. & A.
do
do
Jan., 1892
Bonds Kansas City & Cam. RR ...............................
53 1867
—
1,113.000
IO
J. & J.
do
do
Jan., 1892
F red erick Sc P en n sy lv an ia Iiln e.—Owns from Kingsdale to neluding bank, was $663,571», leaving a surplus of $70,918 above all
Frederick City, Md., 28 miles. It is leased to Pennsylvania RR., winch
inclu ling iO per cent d vi dends. Total surplus of RR. Co, Mar
pays interest on first mortgage. Preferred stock held by Pennsylvania charges,
31, 1886, $9/9,540; of Bank, $150,000.
KR., $461,000; common stock, $318,100; floating debt, (coupons, ice.),
G rand R a p id s Sc In d ia n a . - (Sec Map o f Pennsylvania BE.)—Owns
$169,645. Charles E. Trail, President, Frederick City, Md.
ueiud.,to M ickinaw City, 367 miles; Manistee Branch.
O alveston H arrisb u rg Sc San A n to n io .—(See Wap o f Southern from aort vv_
Missaukee Branch, 8 miles; Osceola Branch, 7 miles; total
Pacific.)—Owns from Houston. Texas, to San Antonio, Texas, 217 miles; 22 miles;
404 miles; leased and operated: Cm. Rion uond & Fort Wayne
LaGrange Extension, 28 miles; Harrisburg to Pierce Junction, 8 miles; owned,
Traverse City Railroad, 26 miles; Bay View Little
leased, Harwood to Gonzales, 12 miles; total, 266 miles. Western Ex RR.. 86 miles;
«M ackin aw Railroad, 6 m iles-118 mites. Total, 522 miles.
tension, San Antonio to Rio Grande River, connecting with Southern . Lv.® Grana
Rapids
& Indiana Railroad is operated in the interest
Pacific, 636 miles; Eagle Pass Branch, 35 miles; total Western Exten of the Pennsylvania Railroad
Co., and $4,000,000 of the first mortgage
sion, 661 miles. Grand total, 936 miles. The extensions to the Rio bonds were guaranteed by that
company, which buys the coupons eaoh
Grande at Eagle Pass and to El Paso were completed late in 1882.
year
if
any
remain
unpaid
by
the earnings. First mortgage bonds re
This company was successor to the Buffalo Bayou Brazos & Col. Rail deemed by the sinking fund are
replaced by 5 per cent bonds issued.
way in 1870. The capital stock outstanding on the whole road is Toe bonds on the duskegon Division
have a traffic guarantee applicable
$27,061,544. The 1st mort covers 256 miles or old road and 1,500,000 to
their interest payment.
acres of land. The proceeds of land sales are used to retire the bonds,
The
Co.
has
a
land
grant,
and
sold
in
1885 17,003 acres, for $142,982.
and also a sinking fund of 1 per cent, but it is optional with bond
.
oa ^aa- i* 1886, were 432.-28 acres. The assets were
holders to surrender their bonds, if drawn. Of the second mortgage J
$433,266
bills
receivable,
a
n
l
cash
with
cashier, $28,268. From Jan
bonds due 1931, the company holds $355,000; and of the second 1 to A US -31. gross earn’gs were $1,294 63*
in 1886, agtinst $1,2 5,mortgage due 1905, it holds $365,000.
In June, 1881, a large 326 in 1^85; net, $439,60 » in ’86, against $331,421
in ’85. The annual
interest in the stock was bought by Southern Pacific parties. The report for 1885 was in V. 42. p 547 :
mortgages on the Mexican Pacific extension cover 636 miles of road,
1882.
1883.
1884.
1885
from San Antonio to El Paso, and the Eagle Pass branch, 35 miles—
$
671 in all. The land grant is sixteen sections (10,240 acres) per mile. Gross earnings........
2,260.291
2,3 >1^605 2 , l l f , 99
1,946.143
On Feb. 10,1885. this property was leased for 99 vears to the Southern Op. exp. and taxes.. .1,678.236 1,721.507
1.5)2.579
1.34
<.428
Pacific Company. 1he lessee agreeing to pav interest on the debt, and
582.> 55
6i0.0*8
o l .<,720
Net earnings---6 63, 15
»fu rth er sum equal to 164ja per cent of the net profits on the whole
P.c.of op.ex.to earns.
74*25
7 *90
71*u0
Southern Pacific system.
68*98
INCOME ACCOUNT.
fc For eight months from Jan l t o Aug 31, gross earnings were $1,701.711
1882.
1883.
1884.
1885.
i n ’86, against $1,880,483 in ’85; net, $211,099, against $783,563 in ’85.
$
$
$
Earnings and expenses for three years were
$
Net earnings............
582,055
640,038
613,720
603,715
1883.
1884.
1885.
Disbursemen’s—
746
Miles operated..................
936
936
Interest on d b t.......
478.065
449,995
387,068
714,100
Gross earnings.................. $3,686,767
$2,902,591
$3,253,977 Int. on Penn.Co.note
25.903
2 >,9 *2
2 1 ,>-6
Operating expenses..........
2,270,046
2,035,816
1,768,525 Loss on leased roads
7,271
20,9 30
9,027
3,050
Net earnings............... $1,416,721
$ 8 6 6 ,7 5
$1,487.452 Adv.&int—O.R F.W.
12,011
17,003
37, 55
27,263
Interest paid.....................
1.224,995
1,276,861
1,418,811 Int.on G.R. Life M. l’n
9,625
19,250
19,250
Balance......................... Sur.$l91.726 Def. $41o,o86
Sur. u,641 Int. on cps. prior yrs.
* »3.H6
—(V. 41. p. 23, 134,190, 2 1 5 , 216, 357, 74o; V. 42, p. 243, 693 ; V. 43.
Total disbursemts.
53 .,875
53 3,070
567 60 J
7*4,413
p. 133,16.3,)
’ Ba
la n ce................... sur. 49,180 sur. 107,029 sur. 46 118 def. 140,698
G alveston H o u sto n Sc H en d erson o f 1 8 8 2 .—Owns from Gal
" Includes $89,075 for interest upon the debt to the gu v autor for cou
veston, Texas, to Houston, Texas, 50 miles. The road was opened in pons of years previous to ls 8 1 ; no hcoupoasand inter st we e included
1853-4 and sold in foreclosure Dec. 1,1871, and reorganized as the G. in the general settlement. (V. 42, p. 365, 537, 5 4 7 . 604,782; V. 43, p.
H. & H. of 1871. In July, 1880, the company defaulted on its interest 245,398.)
and the road was sold in foreclosure Aug. 1, 1882, for $460,000, and
Green B a y W in o n a Sc St. P a u l.—Owns from Green Bay, Wis.,
purchased in the interest of Jay Gould and Russell Sage. The bond
holders, by agreement with the purchasers, received new 5 per cent to Marshland, Wis., 209 miles; branches, 10 miles; leased—Plover
bonds for their old bonds, and the road is leased for 99 years, to the to Steven’s Pt., 6 miles; total, 225 miles. This was a reorganization in
International & Great Northern Railroad Company and bonds guaran 1881 of the Green Bay & Minnesota, which company made default and
teed by that company. Stock of the new company is $1,000,090. In the road was sold March 12, 1881. Preferred stock is $2,000,000, and
1884 gross earnings were $289,118; expenses, $317,979; deficit, $28.861. entitled to 7 per cent when earned, and common stock $8.000,000,
both stocks $100 shares. On Feb 1,1885, default was made on the first
In 1885, gross, $322,242; net, $42,356. (V. 40, 5 0 6 ; Y. 42, p. 66 2 .)
mortgage interest, and the trustee of the mortgage took possession, and
Geneva Ith a c a Sc
in
July, 1886, it was proposed that bondholders f md the three overdue
Pa
coupons and the company would resume pavment on August 1. For
Hayt
l884-85gross earnings were $ 03,190 net, $33.« >43, ; taxes and inter
Organized October 2, 1876, as successor of the" Geneva Ithaca & est, $l02,i86k Samuel Sloan. President, New York. (V. 41, p. 189, 355 ;
Athens Railroad (sold in foreclosure September 2, 1876), which had V. 42. p. 60; V. 43, p. 96. 368.)
been formed by consolidation of the Geneva & Ithaca and Ithaca &
G u lf C olorado <fc Santa F e .—(See Map)—Mileage was as follows
Athens railroads, May 25.1874. In 1880 absorbed the Cayuga & South Aug., 1835: Galvestm. to Goldthwaite, 320 miles; Fort Worth Division
BR., 37 miles. The common stock is $1,275,000; preferred, $400 000 Temple to Fort Worth, 128; Northeastern Division, Cleburne to Dal
Gross earnings year ending ocpt. 30, 1885, $ 3 5 1,884; deficit, $33- las, 54; Eastern Division, Somerville to International Road. 74 m iles;
023; interest, taxes, &c., $80,247; total deficit, $163,270. In 188S-84 Houston Division, Alvin to Houston, 24 miles; total 600 miles.
gross, $ 4 3 0,9 3 8 ; defloit, $152,120; interest payments, $66.330* Road was sold and reorganized April 15, 1879. Stock, $4,560,000. In
total deticit,$218,449.
’
1 1884 the fiscal year was changed from July 3 L to end with Deo. 31, and
G eorgia Pacific.—Atlanta, Ga., to Coalburg, Ala., 177 miles; Cane- the income account is for the 17 m mths. In July, 1835, the old second
Creek, Ala., to Columbus, Miss., 75 miles; Greenville, Miss., to John- mortgage at $13,000 per mile was retired and canceled and the new
sonville and branch (N. G.). 52 miles; other branches. 13 miles; in opera second mortg. at $8,000 per mile was issued. In April, 1836, the stock
tton Sept. 30, 1885, 317 miles. Between the western terminus of First of this company was exchanged for the stock of the Atchison Topeka &
Div. at Coalburg and eastern terminus of Second Division at Cane Creek Santa Fe RR. Co., and the t v o properties thus consolidated. See V. 42,
Is a gap of 41 miles to be built as soon as practicable. The Georgia p. 630. Litigation followed, and was yet pending in Aug.. 1886. In
Pacific has been built by Richmond & Danville Extension Com- the table below the earnings are for the 17 months en ling Dec. 31,1884,
operated in the R & D. system. The capital stock is but previously for the years ending July 31.
$7,000,000. Interest on income bonds is cumulative. Gross earnings
1882.
1883.
1S84.
1885.
year ending Sept. 30, 1885, were $666,662 and net, $ 182,565. There
(17 mos.)
were $310.741 car trust notes, but carrying no interest. The annual Miles at end of year
430
546
5 6
625
report was in V. 42, p. 154. (V. 42, p. 1 5 4 ; V. 43, p. 334.)
Gross earnings..........$1,251,073 $2,068.957 $2,781,208 $1,916,963
/a P ei°Lis1“ . J®»*11,0» * & B a n k in g C o .—Augusta, Ga., to Atlanta, Net earnings............ $414,093
$740,494
$411,547
$517,293
Ga., 171 miles; branches to Washington and Athens,60 miles; WarrenDisbursements—
ton,Ga.,to Macon, Ga., 76 miles; total owned and operated, 307 miles Rentals...................... $13,458
$ ..............
$ ...
The Western Railway of Alabama is controlled jointly with the Central Interest on debt . . . . 291,900
430,001
563,666
602,416
Si Georoia. this company holding one-half the stock of $3.000.000
Tiie Macon & Augusta RR., 76 miles, is owned by this company The
Tot. di8bursem’nts $305,353
$ 140,9 0 ;
$583 666
$602,416
Port Royal & Augusta RR. is owned one-fifth part by this companv • Balance, surplus
$L08,735 $310.493 Def.$152,120 Def. $85,124
the Atlanta & West Point thirty-five one hundredths bv this companv ’ —(V. 41, p. 21, 50, 77, 155, 3. >6. 473. 556. 72 i ; V. 42, p 124, 387, 393,
In April, 1881, a lease for 99 years was made to W. M. Wadlev and 430. 4s7, 51**. 630,728, 753. 782; V 4 !, p.23,245, 399.)
associates, for the Central of Georgia and the Louisville & Nashville
H a n n ib a l Sc St. J o s e p h .—Owns from Hannibal, Mo., to St. Joseph,
railroads, at $600,000 per year, payable semi-annually, and dividends Mo., 206 miles; branches—Cameron to Kausas City 53 m les; St. Joseph
are 2^3 percent quarterly; the deficit to these companies in 1884-85 to Atchison, Kans.. 19miles; Palmyra to Quincy III., 13 miles; total
on the leate was $98,599. In 1885-86 net income from all sources operated, 292 miles.
on first page of tables.
BONDS
AND
STOCKS
R A ILR O A D
4$
INVESTORS’
SUPPLEMENT.
[Vol XLIIL
Subscribers w i l l confer a great favor by g iv in g im m ed ia te n otice o f a n y error discovered in these T ables
DESCRIPTION.
INTEREST OR DIVIDENDS.
Bonds—Princi
Miles Date
Amount
pal, When Due.
For explanation of column headings, &c., see notes of
Par
of
Rate per When
and bv Stocks—Last
on first page of tables.
Road. Bonds Value. Outstanding Cent. Payable Where Payable,
Whom.
Dividend.
Harrisb. Porlsm’th Mt. Joy <6Lane.—Stock.............
54
1st mor., registered (extended 30 years in 1883)
54
Harrisburg & Potomac—1st mortgage, coupon.......
38
Hartford & Connecticut Western—Stoch..................
108
1st mortgage..............................................................
104
Housatonic—Stock.......................................................
127
Preferred stock........................................................|
127
2d mort. bonds o f 1869...........................................
Bonds....................................................................
Consolidated mort.. reg...........................................
Rolling stock certificates.........................................
Roust. JSast dk West Texas.—1st M., gld ($7,000 p. m.
192
2d mort., land grant ($5,000 per m ile)..................
192
Houston <&Texas Cent.—1st M., (main) gold, l.gr.,s.f
345
1st mort., 1. j£t ., West div. (Hempstead to Austin) 119
1st M., gold, Waco & N’ west (Bremond to R o s s )__
58
Consol, mort., land grant, Main and Western Div. 464
Consol, mort., land grant, Waco <fe Northwest.......
58
Gen. mort., gold (for $18,500,000).......................
522
Huntingdon & Broad Top—1st mort., gold..............
64
2d mortgage, gold...................................................1
64
3d mortgage consolidated.......................................
64
Scrip for interest 1st and 2d mortgages.............
Illinois Central—StocK..................... ........................ j
1,928
Leased line 4 per cent stock, guar....................... j
Mortgage bonds, sterling.................................... .
706
Sterling bonds, (sinking fund £20,000 yearly)___ 706
Mortgage, sterling..................................................... 706
Mortgage bonds, gold, coup., may be reg............... 706
uo
do coup., may be reg............... 706
1853
1874
1883
1869
1880
1878
1883
1866
1870
1873
1872
1875
1881
1854
1857
1865
li
1875
1874
1875
1886
1886
$50
500 &c.
100 &e.
100
1,000
100
100
500 «fee.
$1,182,550
700,000
507,200
2,540,300
510,000
820,000
1,180,000
300,000
76.500
5 00 «fee.
300,000
....
200,000
1,000
1,344,000
1,000
(?)
1,000
6,154,000
1,000
2,271,000
1,000
1,140,000
1,000
4,046,000
1,000
Nil.
1,000
4,326,000
500
416,000
500
367,500
1,000
1.497,000
118,895
ib o
29,000,000
100 10,000,000
£200
2,500,000
£200
3,950,000
£200
1,000,000
1,000
1,500,000
1,000
2,500,000
3*a
4
7
1^
5
3
6
4
5
5
7 g.
6
7 g.
7 g.
7 g.
8
6 g.
7 g.
7 g.
5
7
3*2
2
6 g.
5 g.
5 g.
4 g.
3*2 g.
J. & J.
Phila., Co.’s Office,
J. <fe J.
do
do
J. & J. Phila., Third Nat. Bk.
J. & J.
Hartford.
July
July
Jan.
Dec.
July
11,1886
1, 1913
l , 1904
1, 1882
1, 1903
Bridgeport <fc Boston.
Bridgeport, Office,
do
do
do
do
July 10, 1886
July 1, 1889
1910
A. & O.
April 1, 1910
1889
M. <fe N. N. Y., Ninth Nat. Bank
1898
J. <& J.
Jan. 1, 1913
J. <fe J. Last paid July, 1884
July 1, 1891
J. & J. Last paid July, 1884 July 1, 1891
Last paid July, 1884
July 1. 1901
A. & O. Last paid Oct., 1884
Oct. 1, 1913
M. <& N.
May 1, 1912
A. & 0. Last paid Oct., 1884 April 1, 1925
A. <fe O. Philadelphia, Office,
Sept. 30,1890
do
do
Feb. 1. 1895
A. <& O.
do
do
April 1, 1895
J. & D.
do
do
Dec. 1, 1880
M. & S. N. Y., 214 Broadway, Sept. 1, 1886
J. & J.
do
do
Jan. 1, 1886
A. & O.
London.
April 1. 1895
A. & O. London,Morton R.& Co. April 1. 1903
J. «fe D.
do
do
Dec. 1, 1905
J. <fe ,T.
Jan. 1, 1951
J. & J.
do
do
Jan. 1, 1951
J. & J.
.•.I«? uumjmuji wcms uuhii toi-eu. -Tcu, xo,
uuu roaa compiexea to orJoseph in Feb., 1859. The branches were built under different organiza if* ?oS<7r?nd Ue» on 463 miles of road and also a first lien on six sections
tions. The Bridge across the Missouri River at Kansas City is owned- of land for each mile of road, being 1,777,920 acres in all.
Clark and Chas. Dillingham were appointed
The company had a Congressional land grant and received $3,000,000 T.QV -^ e^riiar'^’
H 8outhern Development Co. against the railroad,
in bonds from the State of Missouri, which loan was repaid in cash in June, an°(i
re.c.eivera
certificates
were issued. In January, 1886, foreclosure
1881, but litigation followed as to the interest pavable on the State
WGIT begu5 undeT the first mortgage, and the first mortgage
bonds, the State claiming interest should be paid t o ‘ it at 6 per cent till
maturity. The U. S. Circuit Court decided the further sum of $476,049 with M?.Demingham.a a P ln posse88ioa of the Property as receivers
to be due the State, and the case is yet pending on appeal. The land
grant has been practically closed out.
p f i t u m s o S >f 131fimdlng 00upOD8>&e-> waa Jn V. 43, p. 102, with exIn September, 1882, a syndicate, inc luding Jay Gould, Russell Sage,
an•\ t0 Aug- 3i were $1,538.301 in 1886,
and others, bought about 90,000 shares of common stock from John
o ’I 61
™ l ?m^lvS
H pl718
over betterments, renewals, &c.,*
R. Duff, of Boston, and in May, 1883, this common stock and a large $96,764 iin’ io
1886,
against
$50,093
in 1885.
amount of preferred were sold to the C. B. <fe Q. RR. Co. at 45 for the
8ta,tement of gross earnings, operating expenses, amounts
common and par for the preferred, payable in C. B. <feQ. 5 per cent bonds charged to renewals
and betterments, and gross interest charges, in each
at par.
of the past four years, shows that, excluding betterments, renewals and
Preferred stock has prior right to a non-cumulative dividend of 7 per interest
on
floating
debt,
the income was more than sufficient to meet
cent; then common to 7 ; then both share. Fiscal year ends Dec. 31. the first mortgage interest.
Annual election occurs in November.
The income accounts have
EARNINGS, EXPENSES AND CHARGES FROM 1882 TO 1885 INCLUSIVE
shown a surplus for 1884 overall charges of $445,168, a surplus of
$353,698 in 1883, and a surplus of $39,810 in 1882 after paying ~
1882.
1883.
1884.
1885.
$330,395 for a 6 ^ per cent dividend on preferred stock. In 1885, in Gross earnings........... $3,156,517 $3,251,875 $2,547,847 $2,739,915
Expenses—
come, $1,084,784; interest, $578,632; surplus, $506,152. (V. 40, p.182,
2 40,270; Y. 43, p. 308.)
’
'
* * ° ’ Operat’g, incl’g taxes.$l,748,904 $1,743,771 $1,578,190 $2,052,377
687,392
549,699
H a rrisb u rg P o rtsm o u th m o u n t JToy 8c L an caster.—Owns Extraordin’y rep’s, «fee 459,500
77,192
89,737
95,398
92,221
from Dillerville, Pa., to Harrisburg, Pa., 36 miles; branch, Mid Equipment..................
82,989
dletown, Pa., to Columbia, Pa., 18 miles; total operated, 54 miles.
Total..........................$2,298,112 $2,526,562 $2,220,110 $2,212,559
The property was leased to the Pennsylvania Railroad Co. for 999
years from Jan. 1, 1861, the rental being 7 per cent on the stock and Int. on floating debt..
$53,858
$62,394
$86,130
$22,418
interest on the bonds. Operated as a part of main line of Penn. RR. Int. & prin. State debt.
4 1,524
40,697
39,888
45,698
H arrisb u rg 8c P o to m a c .—Owns from Bowmansdale toShippens
$622,220
$201,718
burg, Pa., 32 miles; branch to mines, 5*2 miles; total operated, 37*2 Surplus income.......... $763,022
$459,23»
1,193,200
miles. Extensions projected from Bowmansdale to Harrisburg. Bonds Int. on bonded debt p’d 1,193,200 1,193,200
authorized, $1,800,000. Stock $379,165. Thomas W. Ahl, President
Def. on int.for bond.d’t $430,178
Boiling Springs, Pa.
$570,979
$991,481
H a rtfo rd 8c C onnecticut W e ste rn .—Hartford, Conn., to Rhine- —(V. 40, p. 43, 61, 92, 120, 151, 240, 269, 337, 394, 424, 454. 481 597
652;
Y.
41,
p.
24,
76,
77,
155,
160,
189,
190,
215,
330, 392. 527.’ 720 :
cliff, N. Y., 108. Foreclosure suit was begun in 1880 against the former
Conn. West., and the State Treasurer took possession. On May 25,1881, V. 42, p. 60,124, 4 6 1 , 487, 549, 575, 663 ; V. 43, p. 102,131, 309.;
bondholders reorganized, and stock in new company issued for bonds. „ H u n t i n g d o n de B r o a d T o p . —Owns from Huntingdon, Pa., to
In March, 1882, the purchase of the Rhinebeck & Connecticut Railroad Mt. Dallas, Pa., 45 miles; branches—Shoup’s Run, 9 miles ■ Six Mile
was made for $800,000 in the stock of this company. Gross 9arniDgs Run, 4 miles; and Sandy Run, 3 miles; Long’s Run Br., 3 miles ;
1884-85, $307,924; deficit, $9,811.
Gross in 1883-84, $333,826; total operated, 64 miles. This road was opened in July, 1856. The capi
deficit, $10,597; interest, dividends, &c., $42,416; total deficit, $52,993! tal stock Is $1,368,950 common and $1,985,250 7 per cent pref. stock..
H o u s a to n ic .—From Bridgeport. Conn., to State Line, Mass., 74 In February, 1884, a dividend of 75 cents per share was paid on pref.
mules; Brookfield June, to Danbury, 6 mileB; leased—Berkshire Railroad, stock. Earnings in 1883, $424,494; net, $196,651. In 1884. earn
22 pu les; West Rockbridge Railroad, 3 miles; Stockbridge & Pitts ings, $333,560; net, $175,724. In 1885 gross earnings $371,001; net,
field RR., 22 imles; total, 127 miles. The preferred 8 per cent stock was $191,709. (Y. 40, p, 182.)
Issued m 1845 to pay for laying the road with heavy iron. There are
Illin o is C entral.—(See Map.)—L ine of R oad —The Illinois Central
also $150,000 6 per cent equipment bonds due Feb. 1,1888, and $70 000 Co. operates a system embracing 2,066 miles of road. Main line—
5 per cent Danbury branch bonds due October 1, 1912. In Sept. 1886 Chicago to Cairo, 365 miles ; Dunleith to Centralia, 341 miles. Branches
the Housatonic leased the Danbury & Norwalk RR. for 99 years. Onera^ —Otto to Colfax, 111., 60 miles; Buckingham to Tracy, 111., 10 miles •
tions and earnings for three years past were as follows;
Kempton Junction to Kankauee Junction, 111., 42 miles; Colfax to’
Passenger Freight (ton) Gross
_ -Net
-- Div. % Bloomington, 20 miles; total 132 miles. Southern Division—New
Years.
Mileage.
Mileage. Earnings. Earnings. Rentals. Pref. Orleans- La., to Cairo, 111., 548 miles; branches: Kosciusko Junction,
1882- 8 3 .... 8,794,731 15,795,565 $735,492 $252,251 $74.107
8 Miss., to Aberdeen, Miss., 108 miles; Durant to Lexington, Miss., 12
1883- 8 4 .... 9,265,561 14,875,414 676,759 229,121
74,095
8 miles. Total owned, 1,664 miles. Leased—Dubuque to Iowa Falls, 143
1884- 8 5 .... 8,835,567 14,890,424 645,859 249,632
74,102
5 miles; Iowa Falls to Sioux City, 183 miles; Waterloo to Minnesota
—(Y. 43, p. 334.)
State Line, 76 miles. Total leased, 402 miles. Total operated Dee. 31r
1885, 2,066 miles. On Jan. 1, 1883, took formal possession of the
H o u s to n P ast 8c W e s t T e x a s.—Owns from Houston, Tex. Chic.
St. L. & N. O. RR., now known as ‘ ‘ Southern Division,”
to Sabine River at Logansport, 192 miles, and connects there with a line
Organ ization , L eases , &c.—This company was chartered in Decem
to Shreveport, La. (Narrow guage, 3 feet.) The company had a Texas
land grant of 10,240 acres for each mile constructed and equipped ber, 1850, and organized in March, 1851, and the whole road, 707
Bonds issued to the extent of $7,000 per mile first mortgage and $5,000 miles, opened September, 1856. The Illinois Central was one of the
per mile second mort i age, but the 2d mortgage bonds were not sold first, and has been one of the most successful, of the land grant roads.
and are held as collateral for the debt due Mr. Bremond, $750,000 The lands granted were upon the condition that the company
Stock authorized, $10,000,000; issued, $1,920,000. In 1884 cross should pay to the State 7 per cent of gross earnings yearly in lieu of
earnings, $281,551; net, $172,860. In July, 1885, M. G. Howe, Assist i l 68-. £ ? ei ? ^ 1RgiieldL)ivi8ion was acquired by a lease of the Chicago
ant Superintendent of the Houston <fe Texas Central, was appointed 6 Springfield (Gilman Clinton & Springfield foreclosed) for 50 years,
receiver of this company. (V. 41, p. 50, 215, 473; V. 42, p. 365, 387; but road is practically owned. The leases of Dubuque <fe Sioux City RR.
V» *Oj p. lul>)
and Iowa Falls & Sioux City are on different terms. (See the names of
companies.) The company acquired a controlling interest in the
H o u s to n 8c T ex a s C entral. (See map o f Southern Pacific.)—Owns those
St. Louis & New Orleans Railroad, to which it made large
from Houston, Tex., to Red River City, Tex., 345 miles; branches Chicago
advances From July 1,1882, leased the Chicago St. Louis & New
—Hempstead, Tex., to Austin, Tex., 118 miles; Bremond,. Tex., to Orleans
for
years, at 4 per cent per annum on stock, and issued the
Ross, Tex., 57 miles; total operated, 520 miles. Texas Central RR. above 4 per400
leased line stock, in exchange for the Chic. St. L. <&
completed from Ross to Albany, 177 miles. The company has a land N. O. stock. cent
Fiscal
year ends Dec. 31. Annual election held in March.
grant from the State of Texas of 10,240 acres per mile, amountS
tock and B onds .—The Illinois Cent, stock has been held largely in
f o g t o about 5,130,720 acres; but the lands are not on the line Europe. The 4 and 3 *2 per cent bonds issued in 1885 and 1886 are under
of the road. Mr. Morgan, of the Louisiana Steamship Line, bought a the old main line mortgage of 1874, and this company was the first to
controlling interest in the stock, and in February, 1883, the Southern negotiate at par a 3 *2 per cent bond. On the Chic. St. L & N. O. the lessee
Pacific party purchased this interest ($3,985,500 of the stock) with guarantees
principal and interest of all the outstanding bonds prior
their purchase of the Morgan property. Total stock is $7,726,900. The to the 5 per the
cent bonds, and, by an indorsement on the latter bonds,
generai mortgage of 1881 for $18,500,000 is made to the Farmers’ Loan guarantees the
payment
of the interest on the same until the principal
6 Trust Co. as trustee, which company holds $1.500,000 Income and fs P_aid‘ Of the first mortgage
bonds, $541,000 are a prior lien on
Indemnity bonds and $1,149,000 consol, mortgage bonds as security.
that portion of the road in Tennessee.
The coupons due January 1, 1885, on first mort. bonds were not paid
paid since 1870 (prior to current year) have been : in 1871,
by the Co., but were partly purchased by the Southern Development Co 10Dividends
per cent; m 1872, 10; in 1873, 10; in 1874, 8; in 1875, 8 ; in 1876,
The 1st mort. is a first lien on the main line at the rate of $20,000 a mile,
ln l,878’
in 1879. 6 ; in 1880, 6 ; in 1881, 7 ; in 1882,
covering 345 miles of road; it is also a first lien on ten sections of land 7 ; in 1883, 8, and
17 per cent in Chic. St. L. <teN. O. stock, exchangeable
for each mile, or 2,208,000 acres. The second mortgage at 8 per cent, for leased Ime certificates ; in 1884,10; in 1885, 8. Prices of the stock
O c t o b e r , 1886.]
RAILR O AD
STOCKS
AND
BONDS.
49
s o
INVESTORS’
SUPPLEMENT.
[VOL.
XLIIL
Subscribers w ill confer a great favor by giv in g im m ediate notice of any error discovered in these Tables.
DESCRIPTION.
on first page of tables.
Illinois Central—(Continued) —
Bonds, c o u p m o r t g a g e onCh. <& 8p. RR .
Bonds, reg., mortgage on Middle Div .
Caic. St Louis <fc N. O., 2d M. (N. O.J.& G.
do
do
1st mort..............................
do
do
2d mort............... ...........
do
do cons.M.. gld. (for $18,000,000
Illinois Midland—1st mortgage, g o ld ................ .
llli oi< <£St. L uis— st mortg ge___. . . . __ . . . . . . .
Venice & C iron leiet mo t.,g u * r.................. . . . "
Indiana Bloomington <£• West.—Stock...................*11
1st inort., preferred, coup, or reg.........................
1st mortgage, coup., may be reg...........................
Income bonds, reg., convertible..........................
Oonsol. income bonds for $6,000,000................. 11
•2d mortgage, coupon or reg..................................11
1st mortgage, gold, Eastern Division............11111
Sinking fund debentures....................................... .
Indianapolis Decatur & Springfleldr—1st mort.,* gold
2d mortgage, gold....................................................
Indiana Illinois di Iowa—Bonds................. 111111111
2d mortgage.,............................................1.11.11..
Indianapolis dt SI Louis—1st mort., in 3 series
Mort for $2,000,000, gold, (end. by 0. C. C. & I.)
Indianapolis di Vincennes—1st mortgage, gu a r....
2d mortgage, guaranteed.................................... 11
Iowa Falls <£ Sioux City—Stock.................................
1st mortgage. April 1, ’69.................................1 "
Ithaca Auburn <6 West.—1st mort.(for $500,000)111
2d mortgage, (income for 3 years).........................
Bona *—Princl INTEREST OR DIVIDENDS.
Miles Date Size or
pal.WhenDue.
Amount
par
of
of
Rate per When Where Payable, and by Slocks—Last
Outstanding
Road. Bonde Value.
Cent. Pay’ hie
Whom.
Dividend.
I l l 1877 $1,000 $1,600,000
1,000
131 1881
968.000
1,000
224 1860
1,483,000
1,000
567 1877
1,398,000
1,000
567 1877
80.O00
1,000 11,‘•26,000
567 1881
147 1875
4,175,000
50*0
20 ,0^ 0
19 l-7 >
6 1880-2 1,000
300,000
100 10,000,800
696
202 1879 100 &c.
1,000,000
202 1879 500 <&c. 3,500,000
202 1879 100 &c.
72,300
1,000
342 1881
4,688.000
202 1879 500 &c.
1.500,000
1,000
140 1881
3,000,000
1,000
500,000
1883
1,000
1,800,000
153 1876
1,000
2,703,000
153 1876
1,000
600,000
110 1882
500
231,000
110 1883
1,000
2,000,000
72 1869
1,000
500,000
72 1882
1,700,000
117 1867 50Ó <&c.
1,000
1,450,000
117 1870
100
4,600,000
184
2,800,000
184 1869 500 &e.
315,000
3 8 ^ 1876 100 &o.
498,090
38 ^ 1877 100 &c.
yearly since 1870 have been: in 1871,132®139ia; in 1872, 119® 140;
in 1873, 90 ® 126ifl; in 1874, 90®1081a; in 1 8 7 5 , IO6I3 : in 1876,
<5078®103%; in 1877, 40!2®79; in 1878, 723Q®87; in 1879, 79it®l00% :
in 1880, 99Ja®12738; in 1881, 124®146ie; in 1882, 1 2 7 ^ ® lbO ^ ; in
1883,124 ®148 ; in 1884, 110®140; in 1885, l i 9 ‘fl®140: in 1886, to
Oct. 23, lSS^® 143*2.
O p e r a t i o n s a n d F i n a n c e s .—The Illinois Central for many years paid
10 per cent dividends, as the road drained a rich territory, of which it
was the only outlet to Chicago. But the building of numei ous east and
west lines crossing its road cut into its business severely. The company,
to extend its business, acquired the line from Cairo to New Orleans,
And invested largely in improving the property. Its operations
are now included in the 111. Cent. The HI. Central owned $9,992,700
o f the $10,00:»,000 stock, of which $4,422,700 were pledged against the
leased line 4 per cent stock, and the Dalance of $i,570,< 0 was owned
absolutely by the Illinois Central, and in June, 1883, a distribution of
17 per cent in this stock was made to Illinois Central stockholders.
For 1885 the annual report in V. 42, p. 303, 306, showed that the
Aurplus over all charges (including construction and equipm’t accounts)
and 8 per cent dividends was $50. The profits of the whole line, as
Against the increased liabilities, are seen in the figures below :
INCOME ACCOUNT.
J „
Road operated...................................
Receipts—
6
5
8
7
6
5 g.
8
7 *
6
J. & J. N. Y., 214 Broadway,
F. & A.
do
do
A. & O.
do
do
M. & N.
do
do
J. & D.
do
do
J. & D.
do
do
J. & ,1. Last paid .Tuly, 1875.
J. & D.
St. Louis,
Various
do
*7*
J. & "j.
4 to 0 A. & O.
6
J. & J.
6
J. & J.
4 to 6 A. & O.
J. & D.
! * ' F. & A.
A. & O.
?6 ! : J. & J.
M. & N
6
M. & N.
7
Various
6 g. M. & N.
7
F. & A.
6
M. & N.
Q.—M.
1%
7
A. & O.
J. & D.
7
7
J. & J.
N. Y., Corbin Bank’ Co
do
do
do
do
do
do
do
do
do
do
do
do
Oct.’ 85 *2cash. & ^ scrip.
l% pd. on Jan.’82.coup.
New York Agency,
do
do
N. Y., Union Trust Co.
N. Y.. U. S. Trust Co.
N. Y., Farm. L. & T. Co.
do
do
Boston, at Ofilce.
N. Y., Nat. Park Bank.
N.Y., Hanover Nat. Bk.
do
do
Jan. 1. 1898
Aug. 1, 1921
Oct. 1, 1890
Nov. 1, 1897
Deo. 1, 1907
June 15,1951
Jan. 1, 1905
June 1, 1895
1900-’02
Jan. 1, 1900
April 1, 1909
April 1, 1919
July 1, 1921
April 1, 1909
June 1, 1921
1903
July 1, 1906
July 1,1906
1887
1903
July 1, 1919
Nov. 1, 1912
Feb. 1, 1908
May 1, 1900
Sept. 1, 1886
Oct. 1. 1917
Deo., 1906
Jan. 1, 1907
! expected; but the U. 8. Circuit Court sustained the decision and ordered
the rental to he paid. (See V. 43, p. 23, 398.)
w
For m e year ended Dee. 31, 1885, the report In Chronicle V. 43
p. 216. gave gross earnings, $2,335,539; net,$717,107; addiental earn!
mgs of C. 8. & a Railway, Springfield to Dayron. $80,642, Total avaUnble revenue, $797,748. Payments : Rentals, $332,<i 10; interest on
bonds, $530,000; other interest, $23,3>-7; taxes. $83,000; New York
office expenses and services, $1.5,593-total, $985,391; deficit under all
charges, $187,642. (V. 4 , p. 585; V.42, p. 463, 479, 604,783- V 43
p. 23,49, 102, 132, 2 1 6 ,3 0 9 , 398,458.)
’
’
’
*
rnI l l dlra ,?apo11? J? e? a ÎPF
S p r in g fie ld .—Owns from Decatur.
Ill., to Indianapolis, rnd.. 153 miles. This company Is successor to the
Indiana & 111. Cent. RR, sold iu foreclosure April 26, 1875. In Deo
1881, was leased to Ind. Bloom. & W. for 50 years, at 30 per cent of gross
hhrttffig8» hut with a guarantee of $200,000 per year. In March 1885
this lease was relinquished and Mr. Hammond, the President, was*
appointed receiver. The first-mortgage bondholders funded one-half o f
the coupons due April l and Oct. 1, 1885, in five years’ scrip, the other
halt being paid in cash. Foreclosure Is to be made under the 2d mort
and stock to be assessed $2 50 per share. (8ee plan in S upplement o f
Oct., 1885, m editorial article.) Common stock Is $500,000. (V 40 i»
92, 363, 424, 716, 763; V. 41, p. 133, 392.)
'
1883.
1884.
1885.
1,928
2,066
I n d i a n a I l l i n o i s Sc I o w a . —Completed and in operation from
2,066
Streatoi; III., to N. Judson, Ind., 110 miles. Stock. $3,598.000. Gross
$
$
Income In 1884-5, $113,315 net, $8,095; deficit under charges, $20,850.
13,064,743 12,190,833 12,621,264 F. M. Drake, President, Centreville, Iowa.
6,629.472
6,062,321
5,994,635
^n<lia n a p o H s Sc St. L o u is .—Owns from Indianapolis to Terre
Interest, & o...
298,009
188,967
270,627 Haute,
Ind., 72 miles ; leased line, St. L. Al. & T. H. and branches,
Misceli aneo us.
202,223
121,206
65,966
A » - 1 „ ’ total operated, 265 miles. The old lease of the St. Louis
A.
&
1.
H.
was guaranteed by three other companies, and suit has been
Total net income...............
7,129,707
6,372,494
6,331,228 pending as to the rental. The company was formerly controlled by
Disbursements—
the Pennsylvania and Cleveland Columbus Cin. & Ind. companies,
Rentals, incl. interest on bonds of
who jointly owned the stock of $600,000. Interest had not been
leased lines..................................
1,891,538
1,787.316
1,901,038 paid on the second mortgage and equipment bonds since July, 1878,
Interest on Illinois Central debt..
538,750
546,900
541,400 and on July 28,1882, the road was sold in foreclosure for $1,396,000
Dividends on 111 Central stock &
(subject to 1st mort.) and bought for Clev. Col. Cin. & Ind. Co. and a
leased line certificates................
3,300,000
2,720,000 2,720.000 new
company organized September, 1882, with J. H. Devereux as
Taxes...............................................
559 980
545.269
550,074 President. A new lease was made of the St. Louis Alton & Terre Haute
Construction a ccou n ts..........
632,5z9
219.9*3
518,359 by which this company and the Cleveland Columbus Cincinnati & InAdditional equipment account...
250,000
aianapolis are jointly liable for the rent of $150,000 per year as a miniMiscellaneous................................
50,000
165,138
60,807 mum. Of the first mortgage bonds series “ A” are J. & J.; series “ B,”
& 8-5 series “ C,” M. & N.; and the C. C. C. & I. RR. guarantees
6,972,797
6,234,566
6,331,178 $750,000 of thi-m.
Balance, surplus.....................
156,910
137,928
50
There has been a large deficit on the company’s operations after de
¿0 ,JR. 61, 105.121. 214, z o o , 3 3 /, 716: V. 41, p. 585, 612 • V ducting the rental. Not earnings in 1885 were $112.730; rental paid,
•A2, p. 3 0 3 , 3 0 6 , 338, 339, 783; V. 43, p. 190, 245.)
’
$45u,000; interest on bonds, $170,000; miscellaneous, $193 321 ; total,
$813,321 ; net loss to lessee, $500,. 9 1. The road is only incidentally o f
r,,I 11.1i?o0 l s -,M ld la u d *—1Operates from Terre Haute, Ind., to Peoria advantage to its owners as a route to St. Louis.
111., 173 miles, of which 148 miles are owned and 28 miles leased’
Operations and earnings for five years past were :
This was a consolidation Nov. 4,1874, of the Peoria Atlanta & Decatur*
Passenge
Freight (ton)
Gross
Decatur and Paris & Terre Haute. Receiver appointed Sept’
Net
Miles. Mileage.
Mileage.
Earnings. Earnings.
l:L’ 1875. There were prior mortgages on the roads forming this con Years.
solidated company, and sale in foreclosure was made Sept. 30 8->6 1881........ .. . 265 19.479,278 196,029,304 $2,048,651 $187.670
AS reported in detail in Chkonicle . V. 43, p. 431. See Paris & Decatur 1882........
21,008,318 202,985,772
2.086.776 df. 111.608
ih V. 43, p. 217. In 1883-84 gross receipts, $249,174; net, $ 11,537 in 18«3........ .. . 265 20,96 ,061 196,637,532
2,131.621
172,419
1884-8o gross earnings were $236,72.; net deficit. $14,671. Stock 1884........ .
22,194.880 207,672,278
1,921,726
189,904
V2,43°p0(217 43j1’ <-!onklin» Receiver.—(V. 41, p. 23, 241; V. 42, p. 753- 1885........ . . . 265 20,596,678 216,121,867
1,855,903
312,730
In d ia n a p o lis Sc V in cen n es. -Owns from Indianapolis, Ind.>
Illin o is & St, L o u is.—Belleville to East St. Louis, 111., 15 milesVincennes, Ind., 117 miles. .The Pennsylvania Company owns a
branches to coal mines, 4 miles; total, 19 m les. Leases Venice & Caron’ to
controlling interest in the stock and operates the road, advancing the
j
aud guaranteen the bonds. Capital stock of Id. St. Louis deficiency
to pay interest on the bonds. The capital stock is $1.402,000;
$617,000 common; Q-nuH earnings in 1884- tne debt due
to Pennsylvania Co. Deo. 31, 1885, was $1,330,008. In
8o, $197,871; net, $32,264. Jos. W. Branch, President,. St. Louis.
1881 the net earnings were $10,260; in 1882, $19,850; in 1883, deficit,
* n d *a n a B lo o m in g to n Sc W e ste rn .—Owns from Indianapolis. $11,031; in 1884, deficit, $9,570; in 1885, deficit, $5,847. Annual
Jim«
i 11’ ’ j
miles, and Indianapolis to Springfield, interest on debt, $206,000.
T?o®8- Leased, Pekin to Peoria. 9 miles; Springfield to SanI o w a F a lls & Sioux City—(See Map o f Illinois Central).—Owna
£ arJ> °-> to Findlay, O., 16 miles; Springfield to
timiUIbi,UMQt5nU1i1o l‘i TVtai operated, 543 miles. This was a eonsolida- from Iowa Falls, la., to Sioux City, la., 184 miles. This road was opened
•
r
h
?
I
n
d
B. A, W. and the Ohio Ind. & Pacific. in 1870 and is leased to the Illinois Central for 20 years from Oct. 1,
®aodusky & Cleveland and branch was leased in April, 1867, at a rental of 36 per cent of the gross earnings. The Illinois
ml] es (Springfield, O., to Dayton) Is leased to Cin- Central has an optiou of continuing the lease after 1887 at same rental.
D e c a t O r \ In
1885’ the lease of the Indianapolis This company also receives a drawback of 10 per ot. on business to and
Deeatur & Springfield road was given up. The former Indianapolis from their line over the Dub. & 8. City RR., and receives rental for 26
Bloomington & Western Company defaulted Oct. 1,1874, and a Receiver miles of its road used bv the Sioux City & St. Paul Co. In the year
was appointed Deo. 1,1874. The road was sold in foreclosure Got 30 entllng March 31, 1886, the total rental was $261,667; receipts from
1878, and the company reorganized.
’ sales of lauds, $283,500; the total net income was $613,882, and all e x
, ion
drat and second mort. bonds the interest was 3 per cent 1879- penses. including dividends, $518,00 '. The contingent fund invested
1882, 4 per oent 1H83-S4, 5 per cent 1885-1887. and 6 per cent there- Is $1,450,060. Lauds remaining unsold, 30,314 acres. Horace Williams,
maturity. The income bonds take such interest from July 1 President, Clinton, la.
18Z 9’ n?t exceeding 6 per cent per annum, as the net earnings mav
a ca A u b u rn Sc W e ste rn ,—Owns from Freeville to Auburn,
suffice to pay. $830,000 stook scrip was issued entitled to a dividend N.Ith
Y., 38 miles. TUe Mew York & Oswego Midland RR., Western Exten
or 7 per cent per annum, after a dividend of 8 per cent on the common sion,
sold in foreclosure, aud this company organized Sept. 20,
stock. After the payment of a 7 per cent dividend, the stock scriD is 1876. was
The stock is $975,800. On April 1, 1883, was leased to South
convertible into common stock.
p
ern Central of New York for the term of its charter, at a rental of 331»
Iu July, 1886, a recriver was appointed for the I. F. & W.. and the per cent of gross earnings, with guarantee that rental shall equal 4 per
Co, issued a circular stating that this was done in consequence <>f the cent i>n tt'- t morgage bonds. Foreclosure has been consented to by a
aecji*ioa of the Supreme Court of Ohio, holding this company liable for majority of bondholders in order to change the form of bonds to conform
a larger rental of the Cin. Sandusky & Cleveia_d road than had been to the terms of the lease.
O c t o b e r , 1886.]
R AILEOAD
STOCKS A N D
51
BONDS.
Subscribers w ill coufer a S reat favor by giv in g Im m ediate notice o f any error discovered in these T a bles.
___ ;______________________ _—---------- --------------- —-------- —_______________
_*___ __ ~
Rnn.ftft—
Bonds—Prinoi
INTEREST OR DIVIDENDS.
pal, When Due •
DESCRIPTION.
Miles Date Size, or
Amount Rate per When Where Payable, and by Stocks—Last
Par Outstanding
of
Dividend.
For explanation of column headings, &c., see notes of
Whom.
Cent. Payable
Road. Bonds Value.
on lirst page of tables.
Jacksonville Southeastern—1st mortgage..................
General mortgage.................................. -.................
Jacksonvi le Tampa <6 Key West—1st mortgage.. ----Jefferson (Pa.)—1st & 2d morts. (Hawley Branch)..
1st mortgage (Susquehanna to Carbondale)..........
Jeffersonville Madison <6 Indianapolis—Stock . . . . .
Jeff., Mad. & Ind., 1st M. (s. f. $15,00u per year),
do
do
2d mort. ($100,000 in 1882)..
Jersey Oity <t Bergen -1 s t mort gage............ ------- -Joliet <6Northern Indiana—Istm ort., guar, by M. C.
Junction (Philadelphia).—1st mort. (extended)....
2d mortgage................................ ------- - - - ..............
Kanawha <£ Ohio- 1 s t mort. for $1,800,000 ............
Kansas Central—1st mortgage (for $3,200,000) . . . .
Kansas City Clinton <6 Spring.lst M., gold, guar—
Pleasant Hill & De Soto, 1st mort., gold...............
Kansas City Port Scott <&Qulf—Stock, common.......
Stock, preferred.................................- ......................
1st mortgage, land, grant, «ink fund Mortgage on branches, guaranteed.........................
Equipment bonds (10 per cent retired annually)..
Ten-year coupon notes............
Kans. O. Memphis <&Birm.—1st M. ($2 d,000 p. m.).
Kansas City Springfield <t Memphis—1st mort........
Plain bonds (red’ble at will at lOo and into, guar
Memphis equipment bonds (guar.by K. C. S.& m .)
Kentucky Central—Stock........................ . - - •■ ........
Covington & Lexington .mortgage, extende r .......
Maysville Division mortgage..................................
General m ortgage.......... -................... / r ö T ' i ' p
K e o k u k Des Moines—1st M..mt.guar. C. K. l. « r-
54
112
130
9
38
224
159
159
6
44
3-6
3‘6
180
168
129
389
389
159
202
26
1880
18*2
1884
1867
1869
1866
1870
1873
1877
1882
1886
1881
1885
1877
$300,000
879.000
1,566,000
300 oOO
2,009,000
2,000,000
2,57 *,000
1,995,000
275,000
800,000
425,000
300,000
720,000
1,318,000
3,091,000
580,000
4,618,000
2,750,000
2,300,000
2,780,000
390,000
560.000
100,000
(?)
6,971,000
500,000
325,000
5,599,500
219,000
400.000
6,379,000
2,750,000
$1,000
1,00 >
1,000
1,000
1.000
100
1,000
1,000
1,000
1,000
1,000
1,000
1,000
1.000
1,000
500
1879
1880
1882
1883
100 &c.
1,000
1,000
282
1*86
1883
1884
1835
1,000
1,000
80
1855
1,000
220
162
1881
1878
1,000
100 &c
TniiiraAntriiiA sniitiiA flstfirii.—Owns from Jacksonville to Centraba ^ n 2 ndfesS This was the Jacksonville Northwestern & South
eastern RR,, projected from JacksonviUe to Mt Yernon, 125 imtes. ^Bonds
were issued at $20,000 per mile, amounting to $600,000.
ized by the bondhold era under this name. Stock
J. & J, N. Y., Am. Ex. Nat. Bk.
do
do
J. * J .
J. * J. N. Y. Mercan. Trust.
Honesdale
Nat.
Bank.
J. * J.
J. (fe J* N. Y., by Erie Railroad.
N.
Y.,
Farm.
L.
&
T. Co.
Q.—F.
do
do
A. & O.
do
do
J. & J.
J. * J.
J. & J. N. Y., Farm. L. & T. Co
J. & J. Phila., 233 So. 4th St
do
do
A * O.
6
N. Y. Agency.
J. & J.
6
A. * O. Office, 195 Broadway.
6
do .
do
5 g. A. & 0.
7 g. A. & O. Boston, 26 Sear’s Bldg
Boston,
1 ^ F. & A.
do
F. & A.
4
J. & D. Bost., Nat. Webster Bk.
7
do
do
M. & S.
7
do
do
F. & A.
5
do
do
J. & D.
6
6
___
5
M. & N. Boston. Nat. Union Bk
6
....
6
J. & D.
6
M.
&N
1
J. & D Kentucky Central RR.
5 *6
J. & J N. Y., Morton, B. & Co
7
do
do
4 to 6 |J. & J
1A. & O N. Y.,Farm. L. & T. Co
5
6
6
6
7
7
1*3
7
7
7
7
July 1, 1910
July 1, 1912
Mar. 1, 1914
1887 * 1889
Jan. 1, lSSfi
May, 1881
Oct. 1, 1906
July 1, 1910
Jan. 1, 1903
July 10,1907
July 1, 1907
April 1, 1900
Jan. 1, 1936
April 1, 1911
Oct. 1, 1925
1907
Aug. 16, 1886
Aug. 16,1886
July 1, 1908
Sept. 1, 1910
Aug. 1, 1922
Deo. 1, 18931895
1926
May 1, 1923"
May 1, 1894
Dec. 1, 1897
May, 1881
June, 1890
1906
July 1, 1911
Oct. 1. 1923
The annual report for 1885 was in V. 42, p. 629. There was exnendedl
in 18*5 for construction and equitdnent of main line $56,268 . tor
improvement of leased lines, $121,877: making the.total net expendi
ture in 1865 (above assets for the purpose' $ 151.954. The company
determined to issue ten-year coupon n tes bearing 6 per cent, to pay ror
these and other improvements, and $100,00 >were so l-sued.
Earnings and income account for four years were as follow s:
INCOME ACCOUNT.
B. Hook. Presid’t, Jacksonville, 111.
Jefferson .—Owns from Susquehanna Depot,Pa., to Carbondale, Pa.,
87 miles; branch, Hawley, Pa., to Honesdale, Pa->f
^ ^ 1 , 45
miles Leased in perpetuity to the Erie Railway for $140,000 per
annum, and now operated by the N. Y.
0aplta
stock, $2,096,050. Samuel Hines, President, Scranton, Pa.
Jefferson ville M adison & In d ia n a p o lis.—Owns from Louis,
ville, Ky., to Indianapolis, Ind., 110 ^ttes; branches—Madison, Ind., to
Columbus Ind., 46 miles; Columbus, Ind., to Sheibyville, ImL, 24 miles,
Jeffersonville, Ind.. to New Albany, Ind., 6 miles; Shelby & Rush RR.,
18 miles * Cambridge Extension, 20 miles; total operated, 224 miles.
The road’ was leased to Pennsylvania Company from 1873, with a guar
S t e e o fin te i^ t on bonds and*7 per cent on stock . L e a s ™ modified
from January 1,1880, the lessees to pay over all the a®t earnings to
the J. M. & I. Co. In 1881 the Penn. Company purchased $1,939,000 of
the stock. Dividends were at the rate of 7 per cent per aunum till
May, 1880. Earnings for two years past were as follows: 18 -14, gross
ross earnings, $l,2l7,u88 ;
earnings, $1,304,111; net, 292,001
n^ ’ack son ville T a m p a & K e y W e s t.—Line of road Jacksonville,
Fla., to San lord, 12b in.; Enterprise track, 4 m.
Johns & 1. R., 37 m.; opeiatf s Jactsonv. St. Aug. & Halifax, 37 m., total
operated, 204 ni. stockis $ 2,600.000. Gross earnings m l8 8 o , $110,OlO- net. *28.752. New York office, 10 Wall bt.
Je’rsev Cltv & B ergen .—Owusirom Jersey City to Bergen Point.:
i R
S
In 1885V oss earnings $3b2,972; net, $115,377; int
dividend and sink’g fuud, $55,000. In 1884. gross, $35b,834, net
$98,163. Stock, $375,000. Dividends 10 per cent in 1884. C. B. Thurs
ton, President, Jersey City.
T
, T11
T
J o lie t <fc N orthern In d ia n a .—Owns from Joliet, 111., to Lake
Station, Ind., 45 miles. Operated as part of the Michigan Centra)
main line. Road opened in 1854 and leased to the Mich. Cent. Above
issue of bonds definitely guaranteed was given as a compromise in
place of old 8 per cent bonds. Stock ($300,000) carries dividends of 8
^ ^ u iT c tlo n ^ tP U lia d e lp liia ).—Owns from Belmont, Pa., to Gray’s
Ferrv Pa., about 4 miles It connects the Pennsylvania, the Plnla
delphia & Reading and the Philadelphia Wilmington & Baltimore rail
roads, coming into Philadelphia. Capital stock, $250,000. Net earn
ings in 1882-3, $123,919; in 1683-4, $130,731; in 1884-5, $9o,86o: in
1885-6 $131,212. Large dividends are paid according to receipts each
year, in 1884 paid 40 per cent, in 1885 paid 20 cent.
K a n a w h a & O h io.—Coming, Ohio, to Charleston, W. Va., 115
miles, and to be extended to a point in Fayette Co., W. Va., lu all^ so
miles. The Ohio Cent. Riv. Div. defaulted on interest Sept , 8 3 , ana
was sold Oct. 2 2 ,’ 85, and this company organized and above bonds
issued. Bonds and stock of old company were assessed. (See plan, V,
40, p. 356.) $200,000 of the total of $1,800,000 1st mort bonds are re
served to retire the Ohio Cent. Mineral Div. bonds. Common stock author
ized $2,20o,000; 1st pref., $6,--00,000; 2d pref., *4,000,000. Office, 2
Wall st., New York. (V. 42, p. 23, 243, 519, 632, 694; V. 43, p. 132.)
K a n s a s C entral.—Owns from Leavenworth to Miltonvale, 167
miles. Sold under foreclosure of first mortgage April 14, 1879. Reor
ganized April, 1879. Gross earnings in 1884, $283.267; deficit, $94,29 r
deficit over interest, taxes, & c , $180,382. Gross earnings in 1885
$268,059; def. $46,575; def. under inter., &c., $127,455. Stock, $l,34s
000. Union Paciflo holds $1,313,400 of the stock and $1,162,000 bonds
K a n s a s City C lin ton & Springfield.—Owns from Cedar June
Kan., to Ash Urove, Mo., 164 miles, and branch Raynor Junction to
Pleasant Hill. Mo., 10 miles; total, 174 miles, in Jan., 1885, the Pleas
ant Hill & De Soto road, 4b miles, was purchased from Atch. Top. & S,
Fe RR., the K. C. C. & S. Co. assuming the bonds. Road was built in the
interest of K. C. Ft. 8. & G. RR., which company guarantees the bonds
Stock authorized, $2,500,000; issued, $1,775,400, of which a majority
is owned by the Kansas City Fort Scott & Gulf RR.
K a n sa s City F o rt Scott & O u lf.—Mileage is as follows:
Mainline—Kansas City to Baxter Springs, 160 miles; branches—Weir
City to Cherry \alle, 50 miles; Arcadia to Coal Mines. 2 miles; Baxter
Springs to Webb City, 22 miles; Rich Hill Junction to Carbon Centre
and Rich Hill, 28 miles; Fort Scott Junction to Springfield, 100; Coalvale to Cherokee, 26. Total operated, Dec. 31, 1886," 389 miles. In
October, 1884, the Pleasant Hill & De Soto road was purchased oy the
Kansas City Clinton & Springfield, and the bonds assumed.
This company was organized April 1, 1879. as successor to the
Missouri River Fort Scott & Gulf, which made default October 8.
1873, and was sold in foreclosure February 4, 1879. Th - first, mort
gage bondholders of the old road took 80 per cent in the new mort
gage bonds, and for all other claims stock was issued. The branches
have been limit mainly by this company and bonds are guaranteed.
The Kansas City Clinton & Springfield bonds are guaranteed by Kans.
City Fort. Scott & Gulf. iSee V. 39, p. 234.)
Miles operated.
Receipts—
Net earnings
Interest, &c.
Disbursements—
Interest on bon d s.......
Leased lines interest..
K C. S. & M. proport’n.
Ft. Scott equip, bonds.
Rate paid on com .......
Do
p ref....
Sinking fund...............
Miscellaneous.............
1882.
,389
f $
1,703,199
1883.
389
$
2,016,212
18*4.
389
$
2,422,443
1885.
387
$
2,546,525
750,319
15,051
837,668
1,014.750
27,395
988,21$
765,370
$
182,856
162,629
6,222
837.668
$
173,203
184,003
25,099
359,360
3
8
26,830
2,758
359,364
3
8
24,360
1,421
1,042.145
$
166,081
204,123
76,212
102,661
475,576
5
8
21,176
384
988,218
$
162,546
213,078
109,625
116.951
336,156
2 1«
8
22,300
3,805
964,461
740,655
767,450
1,046.213
Total disbursements.
24.715
70.218 def 4,068 sur.23,750
Balance, surplus ........
( V. 40, p. 6 2 3 ; V. 41. p. 527 ; V. 42, p. 215, 6 2 9 )
K a n sa s City M em p h is & B i r m i n g h a m .- Tn May. 1886, it
was proposed to build 250 miles southeast from Memphis ..o Birming
ham, Ala the three corp mations in three States to be consolidated and
called the Kan. City Memphis & Birmingham RR. The total cost was
estimated at $5.460,760, and bonds for $2o,»>00 per mile were issued.
The K. C. 8. & M. owns half the stock and gives a traffic miarantee of IO
per cent of gross earnings derived from busine s to and from the new
road. (See circular in V. 42, p. 631; V. 43, p. 217.)
K a n sa s City Springfield & M e m p h ls .-T h is organization em
braces two corporations under the laws of Missouri and of Arkansas to
build a road from Springfield, Mo., to Memphis, Ten*., 282 miles.
Road finished October, 1883. The Kansas City Ft. Scott & Gulf appro
priates 15 per cent of gross earnings on business to or from the new
road to pay interest on the bonds, or retire the pnnei pal at 1
tal stock, $5.264,500. The equipment bonds ai e retired 1-12 ^ n^ J rr
and all may be retire 1 at 105 at any time. Tbe report for 1885 was in
the CHiioNiCLB, V. 42, p. 7.-2, and showed gross earnings of $1,511,461,
and net, $365,160; also $109,624 trafilo guarantee received. (V. 42, p>
315, 537, 631, 782.)
K e n tu c k y C entral.—Owns from Covington, Ky., to Livingston,
Ky., 154 miles; Paris to Lexington, 19 miles; leases Paris, Ky., to Maysville. Ky., 49 miles; Richmond to Stanford, 34 miles ; total operated, 25»
miles.
This was formerly the Covington & Lexington RR., which
was foreclosed in 1859. In 1875 the present company was formed, ami
took possession May 1,1875. TheMaysv. & Lex. RR. was taken Nov. 17,
18767 In June, 1881, a majority of the stock was purchased by Mr. C.
P. Huntington of the Chesapeake & Ohio road. This Co. leased of the
Louisv.& Nashv.RR. its Richmond branch for 99 years from Jan 1,1883,
for $24,000 per annum, with a right to p irchase at any time for $4 00,090.
In February, 1884. the company needing more money, the stock was
assessed l o per cent, and holders of $5,600,000 of|the general mortg.
agreed to take 4 per cent for three years beginning July 1,1884, instead
of 6. Under the arrangement, the fixed charges fo^ tbe y®ar would be
$308.990. including interest and rentals. On Jan. 29, 18a6, Mr. Henry
Huntington was appointed receiver.
The annual report for 1885 was in V. 42, p. 547.
INCOME ACCOUNT.
1884.
1883.
$922,107
Total gross earnings..................—
Ì ! ? « ’ q! o
$318,487
Set receipts...................................... $3oo,819
Disbursements—
„ , ■ ¿•i
Rentals paid.....................................
$52,000 $62.074
256,880
Interest on debt................................
o«
50.402
Taxes and miscellaneous.....................
39,731
1885.
$847,071
$309,621
$61,210
255,250
09,853
Total disbursements.....................
396,’ k9Ìdef.
a Î 3 k9,’ üaË <
ìp? 376 692
Balance»
..................... sur.$50,525
59,869 del.
76.69 A
•The surplus "Dec. 31,1884, was $719,327; deduct (deficit as above,
$76,«92. and $13,200 paid for old claims) $39,892, leaving balance to
surplus Dec. 31, 1885. $629,435.
cavi
—(V. 41, p. 23, 161, 527, 653: V. 42, p .6 0 ,1 8 7 ,2 7 2 , 547.)
K e o k u k & D e s M o in e s .-O w n s fro m Keokuk, la., to Des Moines,
la., 162 miles. This was a reorganization, Jan. 1, 1874, o t
Moines Valley Eastern Div., sold in foreclosure Octobe
The property was leased for 45 years from Oot\ L
95 ner
Rock Island** Pac. RR. on the terms following: that th e ie s ^ e p a ^ 2 5 ^ r
(cent of the gross earnings to this company, but guar a
not the principal) on the present bonds. The stock is $1,524,600 or »
52
INVESTORS’
SUPPLEMENT
[V ol. XLII1.
Subscribers w ill confer a great favor by g iv in g im m ediate notice o f an y error discovered in these Tables.
DESCRIPTION
io** ox wxmn ■» nvtwujLUgOy
on first page of tables.
Bonds—Prrnci
INTEREST OR DIVIDENDS.
Miles Date Size, or
pal,When Due.
Amount
of
Par Outstanding
of
Rate per When Where Payable, and by Stocks—Last
Road. Bonds Value.
Cent. Payable
Whom
Dividend.
Kings County Elevated.........................................
Lackawanna <£Pittsburg—Moris, (for $2,000,000)
Income bonds.......................................
m
Allegany Cent., 1st mortgage, gold !! ! ! ! ! ! ! ! ! ! ! ! ! !
62
do
2d mortgage, g old ..... . ............ !
62
Income mort., not cumnlati...
_ , _ do _
Lake E n e <6 Western—Stock.....................
386
1st mortgage, gold..............................! ! ! . ! ! ! ! ! ! ! ! !
165
Income bonds convertible (not cumulative). . . . .
Sandusky Extension, 1st mortgage......................
21
do
do
income bonds......................
21
Lafayette Bloom. & Muncie, 1st mort., gold........
200
do
do
income M. con. (non-cumul.) 200
Lake Shore <£Michigan Southern—Stock..........
1,340
Guaranteed 10 per cent stock.................................
Consol. 1st mort., (sink, fund, 1 per cent) coupon. 864
_
, do
do
do
registered 864
Consol. 2d mort.,do. (for $25,000,000) coup.& reg. 864
Lake Shore dividend bonds.....................................
258
3d mortgage (C., P. & A. RR.) registered bonds!.
95
Buffalo & Erie, mortgage bonds............................
88
Det. Monroe & Tol., 1st mort., coup., guar
62
Kalamazoo & White Pigeon, 1st m ortga ge...!!!!
37
Schoolcraft & Three Rivers. 1st mortgage............
12
Kalamazoo & Schoolcraft, 1st mortgage.........!! !!
13
Kalamazoo Allegan & Gr. Rapids, 1st mortgage...
58
1883
1881
1882
1882
1879
1879
1880
1880
1879
1879
1870
1870
1873
1869
1867
1868
1876
1869
1867
1867
1868
$ !!-!
1,000
500 &c.
.
1,000
1,000
1,000
3,000
1,000
1,000
100
100
1,000
1,000
1,000
1,000
1,000
500 &c.
1,000
1,000
1,000
1,000
1,000
cent preferred and $2,600,400 of common, a majority of ■which is
Eer
eld by the lessee. In the year 1884-85 gross earnings were ¡$452,795,
and rental, at 25 per cent, $113,198, leaving $24,302 deficit on the inter
est charge paid by lessee. A dividend of 1% per cent on preferred stock
was paid December. 1881
K i n g s C o u n t y E le v a t e d .—Line of road on Fulton Street, Brook
lyn. In January, 1886, the following directors were re-elected: Q. A.
Gillmore, James Jourdan, Harvey Farrington, E. A. Abbott, Samuel
Thorne. James O. Sheldon, George Shea, Henry J. Robinson and Wen
dell Goodwin. The financial statement showed that 10 per cent of the
bonds had been paid in, amounting to $275,000. The directors elected
these officers: President, General Gillmore; Vice-President, General
Jourdan; Treasurer, James H. Frothingham; Secretary, Henry J.
Robinson. (V. 42, p. 93.)
J
J
L a c k a w a n n a & P it t s b u r g .—A consolidation in April, 1883, of
tn© AHegany Central and the Lackawanna <fc Pittsburg. Hoad operated
Jan., 1884, from Lackawanna Junction, New York to, Perkinsville, 41
mues ; Swain s to Nunda, 12 miles, and Olean to Angelica, 39 miles.
The last-named line is 3 ft. gauge and the others standard gauge, also
operates under trackage contract from Lackawanna Junction to New
Castle, 207 miles. Stock $5,000,000, of which $1,500,000 is preferred.
The A. C. 1st mort. bonds are redeemable any time at 105. In 1884
Company became embarrassed and in D e c., 1884, a receiver was ap
pointed, and in Feb., 1886, was authorized to borrow $50,000. Geo. D.
President and receiver, New York City. Earnings in 1884-5
? Z ° ’33£ ¿ deficit, $79253; interest, $106,416; total deficit $1857670 (V
40, p. 684; V. 41, p. 556; V. 42, p. 215.)
L u fce E r ie & W e s t e r n .—Owns from Sandusky to Fremont, 22
miles; Fremont to Celina, 99 miles; branch to Minster, 10 mues;
Celina to Muncie, 54 miles: Muncie to Illinois State line, 120 miles
HLinois State hne to Bloomington, 81 miles; total operated, 386 miles.
This was a consolidation, Dec. 12,1879, of the Lafayette Bloomington &
Mimcie and the Lake Erie & Western. The line embraces the former
I^fayette Bloomington & Mississippi road and the Lake Erie & Louis
vfile. There are also $165,000 in car trust certificates outstanding.
.The earnii^s of the road during the past three years have shown a con° ^ in& Partly to failure of the crops and low
freight rates, but in 1883-84 a large decrease in operating expenses was
made, thus increasing net earnings and reducing the deficit.
On April 25, 1885, the vice-president, J. H. Cheney, was appointed
receiver, and the May interest on the bonds was not paid. Foreclosure
*'uttg on both the first mortgages were begun in Sept., 1885, and in July
1886, a sale was ordered o f both divisions, to take place after nine
weeks notice by the master. The plan of reorganization proposed in
Jam, 1886, was given In V. 42, p. 155 and 242, and another plan of L. R
& W. bondholders on p. 187.
7 ear, of th.is company terminates June 30. No full report
(Î)
$1,642,000
1, 000,000
299.000
59.000
36.000
7.720.000
1.815.000
1,485 000
327.000
580.000
2,500,OCC
1,000,000
49,466,500
533,500
j 15,041,000
24,692,000
1.356.000
920.000
2.784.000
924.000
400.000
100.000
100,000
840,000
6
A. & O. Last paid April, 1884
6
6 g . J. &” j . Last paid July, 1884
Last paid Oct., 1884
6 g.
6
Jan’ary
?V
6
7
?*
1^
5
7
7
7
7
7
7
7
7
8
8
8
F. & ! a .
August.
F .& A.
M. & N.
Yearly.
Q.—F.
F. & A.
J. & J.
Q .-J .
J. & D.
A. & O.
A. & O.
A. & O.
F. & A.
J. & J.
J. & J.
J. & J.
J. & J.
A p r ili, 1923
A p rili, 1923
Jan. 1, 1922
Jan. 1,1912
Last paid Feb., 1885
Aug. 15. 1919
Aug. 15, 1899
Last paid Feb., 1885
Aug. 1, 1919
Aug. 1, 1920
Last paid Nov., 1884
May 1, 1919
May 1, 1899
N.Y.,Grand Cent.Offlce Nov. 1, 1884
do
do
Feb. 1, 1886
July 1, 1900
July 1, 1900
Dec. 1, 1903
Coupons are paid by
April 1, 1899
Treasur’r at Gr’nd
Oct. 1, 1892
Central Depot, N.
April 1, 1898
Y., and registered
Aug. 1, 1906
interest by Union
Jan. 1, 1890
Trust Company.
July 1, 1887
July 1, 1887
July 1, 1883
1882- The Chicago & Canada Southern is also operated by the
Lake Shore & Michigan South.
*
Stocks a n d B o n d s .— The guaranteed stock of $533,500 carries 10 per
Ti?e ordinary stock has paid the following dividends
I 87-0’
I ? 18.71»8 ; m 1872,8; in 1873,4; in 1874, 34i: in
188i’ ^ 8 ^ nlr,87 ? ’a l ^ ;Qm 187I* 2 ; in 1878, 4 ; in 1879, 6 ^ ; in 1880 ,
1882 and 1883, 8 percent each year; in 1884,7; in 1885, nil.
1«£0 Qo^gi ^ ? ri°??,0f 8t00k 8lllce 1870 has been: In 1871,85i«®1164i:
1872,
1873, 5714®97%; 1874, 677s®84s8; 1875 514t®
82 ^ ; 1876, 4 8 6 8 ^ 8 ; 1877, 45®733s; 1878, 8578®715s- 1879 67®
l & r j m 9^9 \39S*‘' 1 881.112«8®135%,; 1882, 98®120ie; in 188®
n
o ^ 23,
f l ^ 761
Z l i8®93f*8.
J o o I . 884’ 5912® 1°4^ ; in 1885, 50%@8978; in 1886, to
Oct.
.j, The first consolidated mortgage bonds are redeemed eaoh year by
$250,000 contributed to the sinking fund. The above bonds of ail
classes outstanding are given less the amounts held in the sinking
funds, which amounted to $3,750,000 Deo. 31, 1885.
O p e r a t i o n s , F i n a n c e s , &c.—The annual reports of this company are
models of clearness in all the statistical matter. The road is greatly
dependent on through traffic, or traffic from competitive points, and its
business is injured by any cutting of rates.
tn 1882, 140,500 shares preferred stock and 124,800 shares of 00mmon. stock of the New York Chicago & St. Louis Railroad (a controlhng interest) were purchased and $6,500,000 of Lake S. & Mich.
S. 2d consol, mortgage bonds issued to pay for it, making an additional
interest charge of $456,890 per annum.
In the year 1885, the Company sold enough of its first consolidated
bonds to redeem old bonds falling due, and realized apremium
$1»270,711 on the bonds so sold, which sum was applied to reducing
the flpatmg debt of 1884.
For the half-year ending June 30,18 36, the returns were as follows :
_
,
1885.
1886.
Gross earnings.................................. .......... $6,487,654
$6,951,786
Operating expenses.......................*............
4,588,116
4,482,097
Net earnings........................................... $1,899,538
Interest, rentals, &c....................................
1,933,728
$2,469,689
1,920,000
Balance.................................................. def.$34,190
sur.$549,689
The annual report for 1885 was published in V. 42, p. 573. containing
the tables below, showing the earnings and income account for a series
of years:
OPERATIONS AND FISCAL RESULTS.
1882.
1883.
1884.
1885.
Miles operated.........
1,340
1,340
1,340
1,340
Operations—
Pass’gers carried.... 4,118,832
3,909,356
3,629.196
3,479,274
Pass’ger m ileage.... 227,098,958 215,715,155 190,503.852 176,830,303
Rate
p.
pass.
p.
mile
2-157
cts.
2-196
cts.
2-170
cts.
2*058
cts.
Í S 8 S m8 » P Í ? ¡ í £492
rear 1883-81
Ieportln
Fr’ght (tons) moved. 9,195,538
8,478,605
7,365,688
8,023,093
Fr’ght
Earnlnm1881¿82'
18S2¿83188% 81'1881-|
S-(t’ns) mileage
1,892,868
1,689,512 *i T
---------1,410,545
1,602,567
Av. rate p. ton p. m
0-628 cts.
0-728 cts.
0-652 cts.
332,608 348,532
0 553 cts.
Passenger.....................
308,033
312,338
Earnings—
$
$
$
Freight..........................
936,008 1,023,032
$
815,037
891,615
Passenger....................
4,897,185
4,736,088
4,133,729
Mail, express, & c...
155,397
131,959
3,639,375
141.124
31,797 Freight..................... 12,022,577 12,480,094 9,358,817
9,031,417
Total gross earn..
1,305,877 1,297,474
1,351,033
1,462,713
1,424,013 1,503,523
1,264,194 1,235.750 Mail, exp., rents, &o.
Oper. expenses.......
1,154,080 1,429,524 1,004,429 l,063,3s2
Total gross earnings 18,225,639 18,513,656 14,843,584 14,133,505
$
Net earnings............
269,933
73,999
259,765
$
$
$
172,367 Maiht’ce of way, &o.
2,095,492
1,532,252
1,614,777
Interest on d e b t. . . .
312,255
310,653
*333,322
228,231 Maint, of equipment. 2,323,789
1,552,805
990,907
1,111,329
1,347,379
6,592,742
5,277,444
5,380,166
Balance.................. def. 42,322 def. 236,654 def. 123,557 def. 55,864 Transport’nexp’nses 5,968,350
Taxes.........................
503,852
530.236
521,543
518,668
* Includes income bond interest.
Miscellaneous t........
709,011
792,476
583,231
529,269
—(V. 40, p. 92, 182, 363, 424,542, 625, 684, 741; V. 41, p 50 215 279
S|0; 356, 445,(473; V. 42, p i 60,'155,’ 18?’, 242,’ Vol. 43Í J i l , & , 66,
11,057,807 11,001,853
9,133,521
9,287,537
7,167,832
7,511,803
5,710,063
4,845,968
.
^ o r e dc M ic h ig a n S o u th ern .—Line of Road—Buf
60-67
59-43
61-53
65-71
falo, N. Y .,to Chicago, 111., 540 miles; branches owned, 324miles Other P.c.of op.ex.to ear’gs
to e s wned as follow s: Detroit Mon. & Toledo, 62 miles; Kalamazoo A
* Three ciphers omitted.
S o la 6 Figeon, 37 miles; Northern Central (Mich.), 61 miles; total, 160
1Includes damage and loss of freight and baggage, personal ini uries,
nnles. Roads leased are as follows: Kalamazoo Allegan & Gr. Rapids law
expenses, rents payable and hire of cars.
58 miles; Jamestown & Franklin, 51 miles; Mahoning Coal R., 43 pules ■
INCOME ACCOUNT.
i f ™ * S o u t h w e s t . , 65 miles; Fort Wayne & Jackson! 98 miles!
1882.
Í883.
1884.
1885.
m m £~tal™0ad owned* teased and operated, 1,340 miles.
Receipts—
$
$
$
$
Tteg company was a consolidation of the Lake
7,167,832
7,511,803
4,845,968
5,710,063
FR. Mid Michigan Southern & North. Indiana RR. May 27, 1869 Interest, divid’s, &c.
98,392
158,540
and the BuffaloA Erie RR. August 16, 1869. The consolidated line em ’
vSTJtJnii
1!?afi8 of„ the Cleveiand & Toledo and the Cleveland
L ^ e s v iU e & Ashtabula railroads. The stocks of some of the railroads
J“ # the consolidation forming the Lake Shore & Michigan
had_peen largely increased by stock distributions, and on
the lines between Buffalo andToledo the profits had been so laree that
the capitai of several of the companies ¿ad been repeatedly wltered
The consolidated line (mcludmg Detroit Monroe & Toledo) then em
braced 927 miles, with $34,938,000 stock and $22,283,000 funded debt
The roads leased at fixed rentals are the Kal. AUegan & Grand Rapids
Jamestown & Franklin and Mahoning Coal. The Detroit Monroe & Tol’
Kalamazoo & White Pigeon, and the Northern Central of Michigan aré
proprietary roads controlled by ownership of their stock. The New
York Chicago & St. Louis road is similarly controlled by she purohase
Total in com e....
Disbursements—
Rentals p a id ............
Dividends, guar.
Sinking fund___
Total disbursem’ts
Surplus for div’d . . ..
D ividends...............
Rate of dividends. . .
Balance....................
7,266,224
7,670,343
5,710,063
4,845,968
357,087
2,714,955
53,350
471,876
3,132,120
53,350
446,450
3,220,870
53,350
439,168
3,374,938
53,350
250,000
3,125,392
4,140,832
3,957,320
(8)
3,657,346
4,012,997
3,957,320
(8)
3,720,670
1,989,393
2,473,325
(5)
4,117,456
728,512
............
............
sur.183,512 sur 55,677 def. 433,932 sur. 728,512
O c t o b e r , 1886 1
d l)
R A TT/RO A D STOCKS A N D BONDS.
Subscribers w i ll confer a great favor b y giv in g im m e diate notice o f any error discovered in these T able»
Bonds—Princi
INTEREST OR DIVIDENDS.
pal,When Due.
DESCRIPTION.
Miles Date Size, or
Amount Rate per When Where Payable, and by Stocks—Last
Par Outstanding
of
For explanation of column headings, &c., see note8 of
Dividend.
Whom.
Cent. Payable
Road. Bonds Value.
on first page of tables.
Lake Shore A Michigan Southern—( Continued)
Kal. Allegan & Or. Rapids, stock, 6 p. c. g u a r....
Jamestown & Franklin, 1st mortgage....................
Jamestown & Franklin, 2d mortgage..................
Lawrence—Stock............. .............................................
1st mortgage.................... .........•............ .................
Lehigh A Hudson River—1st mortgage, gold............
Warwick Valley, 1st m ortgage...............................
do
2d mortgage................................
Lehigh A Lackawanna^lst & M mortgages............
Lehigh Totfet/—Stock ($106,300 is pref.)..................
1st mortgage, coupon and registered........— ...
2d mortgage, registered— ..............
Consol, mort., gold, $ & £ (s. fd. 2 p.c. y ly)
Easton & Amtooy. 1st mort., guar.(for $6.00C,000)
Delano Land Company bonds, endorsed..........
Little Miamir S tock , common .. . . . . . . - - - - - - - - - Street con. 1st M. bds (jointly with Cin.& Ind.RR.)
Renewal mortgage............. .................................
Little Rock A Fort Smiths-Stock ...........................
1st mort., land grant sink, fund..........................
Funding coupon scrip............. . — ...............
Little Rock Miss. River A Texas—1st mortgage...
2d mortgage...........................................................
Little Schuylkill—Stock...........................................
Long Island—Stock.................................................
1st mortgage, extension......................................
1st mortgage, m a in .........................................
2d mortgage..........................................................
Consol, mortgage, gold (for $5,000,000)............
New York & Rockaway, guar. int. only...........
Smithtown & Port Jefferson mortg., guar.........
Equipment certificates........................................
51
51
22
17
41
22
22
25
323
101
101
232
60
196
84
168
165
170
31
354
95
156
164
10
19
1863
1869
1865
1881
1879
1881
1877
1868
1870
1873
1880
1872
1864
1882
1875
1876
1881
1860
1868
1878
1881
1871
1871
3
$610,000
7
298,000
7
500,000
2
500,000
7
314,000
6
800,000
6
145,000
6
240,000
7
600,000
1
33,099,100
6
5,000,000
7
6,000,000
6
14,647,000
5
4,500,000
7
1,395,000
2
4,837,300
6
250,000
5
1,500,000
4,505,308 10 stock.
7
2,314,500
500 &c.
7
636,790
7
1,871,500
500 &C.
7
1,106,000
1,000
2,487,850
3*3
50
1
50 10,000,000
7
175,000
500
1,121,500
7
500
7
268,706
100 &c.
5
3,430,000
1,000
7
250,000
500
7
600,000
500
7
100.000
$ ....
1,000
1,000
50
1,000
1,000
500 &o.
1,000
1,000
50
1,000
1,000
1,000
1,000
1,000
50
1,000
1,000
GENERAL BALANCE AT CLOSE OF EACH FISCAL TEAR.
A RRfiljt—
Railr’d, build’gs, &o.
E f l S e X . ? .......
R^t est. & office prop.
Ch.& Can.So.bds.,&c.
Stocks owned, cost..
Bonds owned, c o s t..
Advances..................
Materials, fuel, & o...
Cash on hand............
Uncollected earnings
1885.
1884.
1882.
1883.
$
$
$
69,848,600 70,048,600 70,048,600 70,018,600
17,169,000 17,300,000 17,300,000 17,300.000
365,780
365,780
365,780
365,780
715,000
715,000
660,OuO
715,000
12,012,839 12,195,068
£,702,428
645,400
933,080
2,127,180
1,554,030
1,461,147
1,454,942
J’
ok*’? kq
i
’o
o
l
’
iv
s
673,474
966,311
1,355,153
1,221,178
235,795
218,682
1,588,590
1,249,858
604,312
582,545
A. & O.
J. & J. See preceding page, j
J. & D.
Pittsburg Office.
Q .- J.
F. & A. N. Y., Winslow, L. & Co.
Cps.fund.J’y
’85-Jan.’8
J. & J.
A. <fe O. N. Y. Nat. E x Bank,
do
do
A. & O.
Philadelphia.
J. & D.
Philadelphia, Office.
J. & D. Reg. at office; cp.B’kN.A
M. & S. Philadelphia, Office,
do
do
J. & D.
do
do
M. & N.
do
do
J. & J.
Cincinnati.
Q -M .
J. & J. Cinn., Lafayette Bank.
M. & N. N. Y., Bank of America.
Boston, Treasurer.
....
J. & J. N.Y.,Wm.C.Sheldon&Co
do
do
J. & J.
J. & J. Last paid Jan., 1882.
Last
paid
April,
1882.
A. & O.
J. & J. Philadelphia Office.
Q.—F. N.Y.,Corbin Bank’g Co.
do
do
M. & N.
do
do
M. & N.
do
do
F. & A.
do
do
Q* J•
do
do
A. & O.
do
do
M. & S.
Oct. 1, 1886
Var.to J’ly ,’ 97
June 1, 1894
Oct. 2, 1886
Aug., 1895
July 1, 1911
1899
1911
Dec. 1.1907
Oct. 15.1886
June, 1898
Sept., 1910
1898 & 1923
1920
Jan., 1892
Sept. 10, 1886
1894
Nov. 2, 1912
July 18, 1881
Jan. 1, 1905
Jan. V," 1906
1911
July 10, 1886
Nov. 1, 1886
Aug., 1890
May, 1898
Aug. 1, 1918
July 1, 1931
April, 1901
Sept., 1901
Disbursements—
Interest on debt..................... - .......
General, taxes, floating interest,
loss on Morris Canal, &o............
Dividends*..................................... Charged for accum. depreciations
1882-83.
„
__
2,031,675
1883-84.
$
2,057,207
1884-85.
$
2,059,541
421,920
2,210,378
347,944
473,355
2,372,242
650,385
1,660,234
Total disbursements.................
Balance, surplus............................
5,011,917
122,599
4,902,804
37,474
4,370,160
30,103
* in 1883, 10 on preferred and 8 on common; in 1884, 10 on pre
ferred and 8 on common; in 1885,10 on preferred and 5 on common.
—(V. 40, p. 121, 3 0 3 ; V. 42, p. 1 23.)
L it t le M ia m i.—Owns from Cincinnati, O.. to Springfield, O., 84
Total assets........ 102,761,684 102,940,272 105,265,092 105,228,854
miles; branch, Xenia, O., to Dayton, O., 16 miles; leased, Columbus A
$
$
S tool?*
50,000,000 50,000,000 50,000,000 50,000,000 Xenia RR., Xenia to Columbus, O., 55 miles; Dayton & West. RR., DayBonds.............1......... 44,716,00 * 44,466,000 47,716,000 47,466,000 ton, O.. to Indiana State Line, 38 miles: Ohio State Line to Richm’d, Inff.,
26,674 4 miles; Cincin. Street Conn. RR., 2 miles; total operated, 198 miles. The
26,675
Dividends*"".............
1,016,005
1,016,005
1,131,670 Little Miami Railroad proper extends from Cincinnati to Springfield, but
2,975,161
Other liabilities........
2,12J’«ZZ
2,506,589
6,604,510 the portion between Xenia and Springfield is now operated as a branoh;
4,547,256
Profit and lo s s .........
4,896,002
4,951,678
for The remainder of the main line, as given above, the Col. & Xenia
Total liabilities 102,761,684 102,940,272 105,265,092 105,228354 road, Columbus to Xenia, is used. On Jan. 1,1865, they leased the Dayton
& West. (Dayton to Ind. State line) and the Rich. & Miami (State line
—(V 40 p. 304, 337. 338, 363, 5 6 6 , 625, 626; V. 41, p. 23, 242, 330,
6 1 2 .7 2 0 ; V. 42, p. 4, 22, 272, 561, 5 7 3 , 631, 728, 783; V. 43, p. 6, 23, to Richmond), and on Feb. 4,1865, purchased the road from Xenia to
Dayton; these three roads go to form the branch of 57 Junes given
2^Lawrence.—Owns from Lawrence Junction, Pa., to Youngstown, O., above. The partnership agreement was dissolved Nov. 30,1868, ana a
18 miles; branch from Canfield Junction to Coal Fields, O., 4 miles; total contract made by which the Col. & Xenia road, including its interest in
onerated 22 miles. The Lawrence Railroad was leased June 27, 1869, the above-named branches, was leased to the Little Miami for 99 years.
On December 1, 1869, the Little Miami, with all its branches,&o.
to Pittsburg Fort Wayne & Chicago RR. at 40 per cent on gross earnings,
with $45,000 per year guaranteed as a minimum. Lease hasbeentrans- was leased to the Pittsburg Cincinnati & St. Louis Railroad Com
pany
for 99 years, renewable forever. The Pennsvlvania Railroad
ferred to Pennsylvania Co., by which the road is now operated. Gross
earnings in 1885. $166,236; net, $74,123; rental from Penn. RR. and Company is a party to the contract and guarantees its faithful execution.
Road is now operated by Pittsburg Cm. & St. Louis Railway Co. Lease
interest received, $67,159; payments, $82,199.
rental is 8 per cent on $4,837,300, interest on debt and $5,000 per
L eh ig h & H u d so n R iv e r .—This road was opened from Grey- annum for Little Miami Company’s expenses of organization; the ftilfllcourit, on Erie road, to Belvidere, N. J., 63 miles, August, 1882. Con ment of the lessor’ s lease obligation is aiso stipulated. In 1885 the
solidation April, 1882. of the Lehigh & Hudson River and the Warwick erross carninss were $1,447,130; net, $123,962; lease rental, &0m of
Valley roads. In addition to above there are $65,000 Wayawanda 6 per lessor, $697,787; payments, $664,748; balance surplus, $33,039. Loss
cent bonds due 1900 and $52,000 Lehigh & Hudson River 2d 6s,
due 1909. Stock, $1,340,000. Coupons due July, 1885, not paid, and to lessee, $423,976, against $375,243 in 1884.
bondholders agreed to fund four coupons July, 1885, to Jan., 1887, in
L ittle R o c k & F o rt Sm ltk.-O w n s from Little Rock, Ark.,_to
clusive. In Dee., 1885, a traffic contract was made with Lehigh Coal & Fort Smith, 165 miles; branches, 5 miles; total, 170. In Dec., 1874,
Nav Co. In 1883-84 gross earnings, $162,795; net, $74,242; interest the property (then 100 miles), including the land grant, was sold m
on bonds, $81,802. In 1884-85 gross earnings $173,007, net, $65,012; foreclosure. This company afterwards built 65 miles, and opened the
deficit under interest, &c., $20,162. Grinnell Burt, Pres., Warwick, N.Y. road to Fort Smith July 1,1876. Six coupons of J u ly ,1876, and after
were funded into 7 per cent notes. In June, 1883, bondholders fundM
—(V. 41, p. 102, 720.)
L e h ig h & L a c k a w a n n a ,—Owns from Bethlehem, Pa.., to Wind into 10 year scrip the coupons falling due July, 1883, and January,
Gap. PaT, 25 miles. This road was opened in 1867. It is leased 1884. Payment of coupons in cash resumed July, 1884.
The lands unsold Jan. 1,1886, amounted to 638,067 acres, and land
to the Lehigh Coal & Nav. Co., and operated by Central RR. of New
Jersey. Of the above bonds, $100,000 are a 1st mort., and $500,000 2d notes, $427,075; in 1885, sales of 25,663 acres previously made were
cancelled.
In 1886, it was reporteda sale of all the lands was made to a
mort. Capital stock, $375,100. Gross earnings in 1885, $62,076; net,
syndicate at $1 25 per acre, of which $400,000 was m cash. In 1885
$12,723. Gross earniugs in 1884, $69,546; net. $15,252.
gross
earnings
were $614,288; net, $225,910. Interest on bonds, taxes,
L e M g h V a lle y .—Owns from Phillipsburg (Pa. Line), N. J., to i c f $227,857)
balance, surplus, $42,686; land dept, expenses,
Wilkesbarre, Pa., 104 miles; branches—Penn Haven to Audenried, $42,427. Annual report in V. 42, p. 574. J. H. Converse, Pres., Boston.
18 miles; HazleCreek Bridge to Tomhicken (and branches), 32 miles; (V. 41, p. 307, 445; V. 42, p. 155, 215, 5 74; V. 43, p. 125, 334, 487.)
Lumber Yard to Milnesville (and branches), 18 miles; Black Creek Junc
¥ iff]» line it iTTississinnl R iv e r & T e x a s.—Owns from Little
tion to Mt. Carmel (and branches), 61 miles; Slatedale branch, 4 miles;
Bear Creek Junction to Bear Creek, 11 miles; Lackawanna Junction to R ^ k t o Arkansas City, lJSP:miles ; Tripps to Warren, 53 im h *; Rob
Wilkesbarre, 10 miles; State Line & Bull. RR., Monroeton to Berwick, ifrw Tmiptior» to Micawber, 4 miles; total, 170 miles, in is com
24 miles; also owns the Easton & Amboy RR., Amboy, N. J., to Pennsyl pany was a reorganization of the Little Rock Piim Bluff & New Orleans
Railroad and the Mississippi Ouachita & Red River Railroad. Both
vania Line, 60 miles; total operated, 346 miles.
,,
This is one of the most important of the coal roads. DMdends on the those companies received land grants and State a!d bonds, and t l ^ com
pany
is involved with others as defendant m the suits by Arkansas State
ordinary stock have been as follows since 1870: In 1871,1872.1873,
1874 and 1875,10 per cent paid; in 1876,9; in 1877, 5*2; in 1878,1879 bondholders. The coupons due Jan. 1,1883, were not paid, and scrip
was
offered
to bondholders for two years’ interest to be funded. By
and 1880, 4 ; in 1881, 5*a; in 1882, 6%; in 1883 and 1884, 8; in 1885, 6
per cent. Prices of the common stock In Philadelphia smce 1877 were a circular of the President issued in June, 1885, a new reorganization
was
proposed
as per terms mentioned in Y. 41, p. 23. Foreclosure suite
as follows: In 1878, 32%'®4214; in 1879, 33*2®55 ; in 1880, 46@57%;
in 1881, 571s ®6414; in 1882. 58*4®67%; in 1883, 63®731i; in 1884,57 were begun in Nov.. 1885, and in Feb., 1886, E H. Winchester and John
Reed
were
appointed
receivers. A new plan of reorganization was re
@717&; in 1885, 54*3^»Ol1^ in 1886, to Oct. 23, 52@62.
The fiscal year ends November 30. The last annual report was in the ferred t ^ t e toe Chronicle of Oct. 30,1886. In 1883 gross earnings
were
$416,582Tnet,
$98,177.
In 1884 gross, $368,271; net, $25,52|.
C h r o n i c l e , V. 42, p. 123. It is one of the peculiarities of the company s
annual report that no general balance sheet is given. The earnings, The stock is $3,594,600. Elisha Atkins, President, Boston, Mass. (Y.
expenses and income account for the fiscal years ending Nov. 30, w ere: 41, p. 23, 585; V. 42, p. 304.)
1884-85.
1883-84.
1882-83.
T .ittle S c h u y l k i l l .—Owns from Port Clinton to Tamanend, 28
$
$
miles; branches, 3 miles; total operated, 31 miles. The
Earnings—
$
6,079,542
6,295,282
noy R R ., was leased Jan. 12,1863. for 99 years, and sub-leased to PMla.
Coal freight...................................... 7,401,,796
1,617,236 & Reading July 7,1868. The Little Scbuykill Railroad is leased to the
3,763,429
Other freight..................... -■...........
860,139 Philadelphia
889,496
Pbiiadelnhia &
& Reading
Reading Railroad for t i years from July 7 , 1868, at a
Passenger, mail, express, &c........
830,949
8,556,917 fixed annual rental
8,94«, 207
Total gross earnings.................... ^ -S IM S O
L
o
n
g
Is
la
n
d .—Owns from Long Island City, N. Y., to Green4,888,998
5,246,073
Operating expenses....................... 6,17o,b5b
port, IL Y ., 95 miles; branches, 87 miles; total ow n ^ , 182
Leased-Smithtown & Ft. Jefferson RR, , 1 9 ;0 ^ e s ; Stewart RR. toB eto
Net earnings................................. $4,042,494 $3,702,134 $3,667,919 page, 14-5; Stewart RR. to Hempstead, 1-8; ^ w Y o r k & R o c k a w
in c o m e a c c o u n t .
1884-85. RR., 8-9; Brooklyn & Jamaica RR., ?;6 ; Newtown & FWflMng
1883-84.
1882-83.
$
$
3,667,919
3,702,134
N K a S teg s
............................ 4,042,484
732,344
1,238,144
U f f lo Æ t B V t
Other receipt's and interest..........
1,092,022
Total net in c o m e ...........- -- - 5,134,516 4,940,278
4,400,263 owned and operated is 354 miles.
54t
INVESTORS’
SUPPLEMENT.
V ol.
XLIII.
Subscribers w i ll confer a great fa v o r by g iv in g Im m ed iate notice o f a n y error discovered In these T a bles.
DESCRIPTION.
INTEREST OR DIVIDENDS.
Bonds—Princi
Miles Date Size, or
Amount
For explanation of column heading, &c., see notes of
of
Par
Rate per When Where Payable, and by pal, When Due.
on first page of tables.
Stocks—Last
Koad. Bonds Value. Outstanding
Cent. Payable
Whom.
Dividend.
Long Island Oily <&Flushing—1st M.. coup, or reg.
10%
Income bonds (cumulative) ($350,000)...............
10%
1/08 Angeles <6 San Diego—1st M. (for $2,800,000)
27
Louisiana Western—1st mortgage, g o ld ___
112
Louisv. Evansv. <&St. Louis.—1st mort. E. R. & E ..
72
1st mortgage, gold, for $2,0o0,000 (2d on 72 M
255
2d nrort., gold, for $3,000,000,1st coup, due ’ 87
255
Louisville <£ Nashville—Stock..................................
2,065
General mort., gold, coup, or reg. ($20,000,000
840
Louisville loan, main s te m ..................................
Lebanon branch extension, Louisville loan.......
iïô
Lebanon-Knoxville extension mort. ($1,500,000) 172
Cecilian Branch, 1st mortgage................................
46
Consolidated 1st mortgage...................................... 392
Memphis & Ohio, 1st more., sterling, guar............ 130
Memphis & Clarksville br„ 1st more., sterling___
83
Mort. on Ev. Hen. & N., g o ld ............................. .
135
Collateral trust, 3d mort., gold, sink, fund........
1,079
10-40 Adj. M., gold, coup, or reg. (red’ ble aft. ’94) 783
le t mortgage on New Orleans & Mobile R R .........
141
2d mortgage
do.
do
141
Bonds sec’d by pledge of 2d mort. S.&N.AlaJRR*' 189
1st M., gold, on Southeast.* St.L.RR.,coup.or reg. 208
2d mort., gold, on Southeast. & St. Louis RR., cp. 208
Pensacola Div., 1st mort., gold...........................
45
Mobile & Montg. Div., 1st M., ($2,677,000)!"."” ! 180
Pensacola & Selma Div., 1st M., gold ($1,248,000) 104
Pensa. & Atl., m. gold, guar., $1,000,000 pledged. 185
Louis. Cin. & Lex., 1st mort....................................
175
do
2d mort.,coup., for $1,000,000
175
1881
1881
1880
1881
1881
1886
1886
1880
1863
1881
1877
1868
1871
1872
1879
1882
1884
1880
1880
1881
1881
1880
1881
1881
1881
1867
1877
$1,000
1,000
1,000
1,000
1,000
1,000
1,000
100
1,000
1,000
1,000
1,000
1,000
£200
£200
1,000
1,000
1,000
1.000
1,000
1.000
1,000
1,000
1,000
1,000
1,000
1,000
1,000
100 &c.
AJiy Li,ui isiauu juauroau went into m e nanas or a receiver October.
1877, but in 1881 the company resumed possession. The second mort
gage bonds were issued to take up floating debt of various classes.
The control of the company was sold to the “ Long Island Companv,”
controlled by Mr. Austin Corbin and others, in Dec., 1880. In July,
1881, the stock was increased from $3,260,700 to $10,000,000, but the
Terms of inert **s©and price realized on tlie additional stock have never
been made i ublic. In Autrust, ls81, most of the holders of Smitutowii & Port Jefferson bonds and N. Y. & Rockaway bonds agreed to
exchange their bonds for the consolidated mortgage, bearing 5 per centNo annual r< ports have been issued and the only information obtained
Is from the statistics furnished the State Authorities. The road has been
much improved in its operat’g depart under the present management.
For the year ending Sept. 30, Ir85, the annual statistics were in V.
^?r theqiiarter ending June .-(0. 188d, gross earnings were
$748,090, against $. 17,948; net earnings $272,501, against $268,749;
net income over interest, taxes and rentals $131,894, against $ 123,830.
The reports for four years made to the RR. Commissoners gave gross
earnings, &c., as follow s:
.
1881-82.
1882-83. 1883-84. 1884-85.
352
354
Miles operated......................
Passengers carried, No........ 8,878,453 9,024,370 9,326,747 10,057,713
Freight (tons) m oved......... 386,260
416,153
448,963
454,460
Earnings and Expenses—
$
$
$
$
Passenger earnings............. 1,608,771 1,695,177 1,759,597 1,807,346
Freight earnings................... 634,698 718,743
720,630
727,6 >3
271.169
Miscellaneous earnings___ 173,583
276,005
291,069
$600,000
312.000
556.000
2.240.000
900.000
6
6
6
I s-
1 ,000,000
6 g.
3.000. 000 2 to 6 g.
30,000,000
3
12.207 000
i':
1201.000
333.000
Pledged.
1.000.
7.070.000
3.500.000
2,015,360
2.380.000
9.790.000
5.000.
5.000.
1.000.
1.960.000
3.500.000
3.000.
600.000
Pledged.
Pledged.
2.000.
2.850.000
892,000
6
6
000 7
7
7
6 I"
g.
•|s
000
000
000
I 8'
6
6 ft.
000 3 g.
If"
8*
000 6
7
7
M. & N N.Y., Corbin Bank’g Co May 1, 1911
Jan. 1
do
do
May 1, 1931
J, & J N. Y., Central Pacific. July l , 1910
J. & J N. Y., South Pac. RR. July 1, 1921
J. & J
July 1. 1921
1926
1936
& A. L. & N. RR., 52 Wall St Feb. 1, 1882T
& D. N. Y „ Drexel, M. <fe Co, June 1. 1930
& O.
New York Agency.
1887
& O. N. Y., Drexel, M. & Co. Oct. 15, 189*
& S. New York, Agency. March 1, 1931
& 8. N. Y., Drexel, M. & Co. Mar. 1, 1907
& O.
do
do
April, 1898*
& D. London, Baring Bros. June 1, 1901
& A.
do
do
Aug., 1902
& D. N. Y., Drexel, M. & Co. Dee. 1, 1919
—Mar N. Y., Drexel, M. & Co. Mar. 1, 192a
& N. New York, Agency.
Nov. 1, 1924}
& J. 50 Exchange Place,
Jan. 1, 1930
& J.
do
rio
Jan. 1, 1930
<fe O. N. Y „ Drexel, M. * Co. April 1, 1910
& s.
do
do
March 1, 1921
& s.
do
do
March 1, 1980
& Su
do
do
Mar. 1, 1920
& N. 50 Exchange Place,
May 1, 1931
& s.
do
° do
Mar. 1, 1931
& A. N. Y., Hanover Nat.Bk. Aug., 1921
& J. N. Y., 50 Exchange pi.
Jan., 1897
&O
do
do
1907
Fto1 44 •
l OQ’•
t„FMn ’ 111,1 a ' f ea8a?ola, Fla., to Pensacola Junction;
Muscogee dock, 1 ; Louisville, K.v„ to Newport, Ky.
Lexington 6 7 ; Louisville H. Cr. & W’port. (n! g ! ) f l i ;
to Prov^dpnnp ^R? r»£,A la'’ c,9; H®ndcrson to Nashville. 135; Junction
iPoUii
jnoe’
Pensacola extension, 26; total owned. 1 612 milesDecatur nriqC-0^ - o 1ted'7 IUiS0tÌOn to Gla8? ow- K y„ 10; Nashville tn
Juncthfn
^omcry, 183; Junction to Wetumpka, 6;
Oh?o 2 7 ^ e’« 19; L!1ul8vlli e Transfer, 4 ; No. 11v. Climb. &
y ai0>. 2,7 > Lebanon to Greensburg, 31; Elkton to Guthrie 11 • total
leased and controlled, 410 miles; total operated June 30, 1886,’ 2.02*
34 miÌAsAÌ ^
Rl°bmond Branch (leased to Kentucky (’entrato
audrf n e8t a? d v!l Cecillau. Branch (leased to Ches. O. & So W.), 46 miles!
rSd^ ont'ro^8* by ownership of a majority of the stock, the Nashvill^
u « w aÌi?agD & 8t' F0UÌ 8 RR’’ 580 milesl the Owensboro & Nashville, 84
PR kÌ™ „Pensf tola, & Atlantic, 16Lmiles; the N aslivllle* Florence
S S C “n f o i , »
*8 ‘ ” t' re8ted
¡(» (¿ « « a
Ma?chA^ f
S’ ,??,'TThe LToui^vi 1.1,®& Nashville was chartered
1S5Q T S m
a! i T ned,betffee? Louisville and Nashville November^
1859. The Memphis branch, completed in I 860, was operated in connection with the Memphis & Ohio and Memphis Clarksville & Louisville'
fu8,
Purchased by the L. & N. The other roads embraced
in the system have been purchased outright or are controlled absolutely
rshl?K°u a
of the stock, except those under leases, a »
ab®ve descubed. The liabilities for interest are treated mostly aacastU£Ìn<?t-dT,nliia ^ r° tb®. Louisvifie & Nashville Company. TheSouthGross earnings.............2,417.057 2,685,089 2,756,232 2,826.478 east. ^
Lotus RR., winch was reorganized after foreclosure of the*
Expenses and taxes........... 1,576,774 1,683,814 1,859,505 1,795*252 xr«,wmS ? Southeastern, Nov. 16,1880, is leased to the Louisville &.
Nashville for 49 years, and the L. & N. issues its bonds as above
secured on the road, about 210 miles long in Indiana and Illinois*
Net earnings.................. 840.283 1,001,275
896,727 1,031,226 There is also $999,500 of S. E. & St. L. stock. The fiscal year of l J!
Lease rentals....................... 192,748
282.466
287,698
297,559 & N. ends June 30. Annual election is held early in October. ^
Interest and sinking fun d.. 2o0,757
209,059
190,876
207,922
Capital stock..................... 10,000,000 10,000,000 10,»00!b02 10,000,000
S t o c k a n d B o n d s .—At the close of the fiscal year (June 30) 1880 the
Funded debt.........................4,169,926 5,394,019 5,712,080 5,5131*205 capital stock was $9,059,361. and in Nov., 1880, the stock dividend o f
There are also Atlantic Avenue Improvement certificates, $28,875 at F22oPe+l C6nt was mad?* P 'su ig the amount to $18,133,513. In October*
i
real estate mortgage, $23-,000, 5s and 7s; time loans, J88? ’ *be company listed at the Stock Exchange $3,080,000 stock sol(f
of JiOiusvtoe, raising the stock outstanding to $21.213,513*
v - “ •p- 162’ 5 ‘ 7’ 688' and $3,786,48 / more was then listed, raising the amount to $25,000,000. In Oct., 1884, the remaining $ .,00«,000 unissued was offered to
f. ® ^ d!cateat
with the $5,000,000 bonds at 55, raising the stock t o
Great Neck, 14 miles; branches, 8 miles; total, 22 miles. “ This is a r'eor- the full limit of $30,000,000. (See V. 39, p. 409.)
All the dividends paid since 1870 were as follows: In 1871, 7 p e r
?Q?nZat^ u of*th? U u sb iM & N ortl1 8ide road, foreclosed December 11,
j- 872’ 7 P®r .c eat; in 1873, 7 per cent; in 1877, 1 ^ per ce n t;
+ Fin
*8 $500,000; par, $100. The income bonds are payabie at wiU. The company is liable for $25,000 of New York & Flushing In i s « ? ’ «•^tTÌ sso ’ U 187,9, 4 ; ln 1880» 8>au<l 100 per cent in stock ;
bonds, due 1920. Leased to Long Island RR. for 50 years the lessee in 1881, 6; m 1882, 3 ; nothing since.
_a^ o g 6 0 per cent of gross earnings and $17,500 for fixed charges688^ k/FFÌÌ!?8 4° f i
8lo°l£- I roil[1 1872 to date have been: In 1873,
1883-84 gross earnmgR were about $ 2 13,000, of which 4o ner cent to 50@79; in 1874, 53@59; m 1875, 36ia®40; in 1876 none* in 1877
this company was $853)35; in 18*4*5, rental’ $116 537 V f redStoly 26@41 ; in 1878, 35®39 ; in 1879, 35 ®89^ ; to 1880? 77® 174 = to Ì881
President, New York City.
DUUf' 79®llO ^ ; in 1882,4612® 100%: iul883.40Ì58®58Ì2; to 1884, Ì 2 & 5 I V
in 188o, 22®51%; in 188«, to Oc*. 23, 3338®551ì .
The general mortgage of 1880 is for $20,000,000, of which the bal
L o s A n g e le s A S a n D i e g o . —Florence to Santa Anna, Cal 27
m l,?8-^ Le? 8e4i t0 Uent-P ac-, aodin 1884 the net earnings paid as rental ance unissued is reserved to payoff prior liens, and the mortgage covers
840 miles of road subject to such liens. The Louisv. & Nashv. Lebanon*
5TO8^
rÜ,r
m
e
T
n
^
a
$33’
l
74:
lnter®
8t’
&c
$35,121.°
Capitol
stoèk
$570,o00. Clias. Crocker, Pres., San Francisco.
Knoxvilie bonds of 1881 cover 110 miles, subject to prior liens, and 62
miles from Livingston to State line as a first lien. The Pen. & Atlanti»
W e s t e r n .—Owns from Lafayette, La., to Orange is a separate oompany and the bonds are not a direct liability of the*
Texas, 112 miles, leases extension in Texas, 7 miles ; total, 112 miles L. & N. Co., but principal and interest are guaranteed by L. & N. A
Leased and operated by the South. Pae. Company, being part of th4 sinking fuud begins Feb., 1889. The P. & A. has issued to the L. & N
through hne between New Orleans and Houston. For eight months from $1,000,000 land grant bonds pledged for advances to the P. & A.
The third mortgage trust deed of 13a2 is made to E. H. Green and
S1*088 earnings were $411,990 in ls86. aeainst
$377,812 in 1885; net, $205,759, against $190,609. In 1884ggross John A. Stewart as trustees, and has a sinking fund of 1 per centi
earnings were $485,706; net, $216,545. Surplus over interest an^ all annually begun in February, 1885, the bonds drawn being redeemable*
®Sa^g12k^6 cV909' G*o8o earninS8 for year 1885 were $627,317 • net at 110. The bonds are secured by pledge of a large amount of stocks»
and bonds belonging to tbe Louisville & Nashville Company and
ü î p ! M 3.
p - 23, is4> 2 ie ' 357’
held as collateral security by the trustee of the mortgage. Thesecurities pledged were stated m detail to the Supplement up to the
number for August, 1884, the par value of bonds being $9,633.000
and stocks $18,529,700; total, $28,162,700. (See estimate of actual
mues; total, 255 mues; opened Oct!, 1882.
The road was formerlvVhc value in V. 4 1, p. 445.)
IiOuievilIe New AJbany & St. Louis, foreclosed in 1878. In Oct 1881
The 10-40 Adjustment mortgage bonds were Issued in 1884, and
$900 OOlfo^E1
tke Evansv. Rockport & Eastern,andtke cover 783 miles of main line and branches, subject to the prior liens
division T h p 'w iE' lst “ Witgage bonds stand as a prior lien on that and are a second lien on the trust securities pledged under the trust
division. The foieclosure sale was made June 9, 1-8«. The nlan of m deed of 1882. See V. 39, p. 409.
The Henderson Bridge Co. bonds are not a liability of the L. & N. The
? ^ ± lT „ Wa8, lQ V^ 41’ P- 72<*. by which 1st mort W e bondholders
De" , second mortgage bonds and a first mortgage of $2 000 ooo bridge is owned by a separate company, with a stock of $1,000,000, of
vvas issued as a prior hen. Tue s ock i- $ i ,500,00o p to? 5 per cent non whiehtheL. & N. Co. holds $501.000; the Bridge Co. is guaranteed
\ is F 1?* !!6, an i $3*500,poo common ; the par of all^hares^s $ LoO In gross receipts of $200,000 per year by the several roads using it.
1383-4 gross earnings were $668.898; net, $95,SU5. In 1834-85 ¿-oss
Operations, F inances, &c.—The Louisville & Nashville system hav
eirm ng8’ $716,119; net, *142,224. (V. 41, p. 133 331 495
7 3 0 ; f . 42, p. 519, 728; V. 43, p. 125, 274, 302,431; 452 )
7 612’ ing been developed in its present extensive form since 1879 has a short
history. The K O per cent stock div dend deolared in 1880 was made
before the working and result of the newly-acquired roads could he
. L o u i s v i l l e & N a s L v ille .—(See Map.;—L ine of R o a d --M ain fuliy
developed.
tae—Louisville to Nashville, 185 miles; branches—Junction to’ Bards- •For two months from July 1 gross earnings were $2,460.341 in 1886
town, K y„ 17; Junction to Livingston, Ky., 110; Livingston to Telagainst
$2,134,819; net, $ i,0 5 1,793, against$761 907.
ioo, K y ,6 1 ; Montgomery to MohUe, 179; New Orleans to Mobile^ 141The annual report for 1885-86 was in the Chronicle, V. 43 p. 486.
branch to Pontchartrain, 5 ; Paris, Tenn. to Memphis, 259 ; East St’
The
comparative
statistics
were
as
follows
for
the
roads
operated
as the.Louis, HI., to Evansville, Ind., 161 ; June., Hi., to Shawneetown, 111,, 41, Louisville & Nashville system proper:
O c t o b e r , 1886. J
R A IL R O A D
STOCKS
AND
BONDS,
55
56
INVESTORS’
DESCRIPTION.
on first page of tables.
8
Louisville A VashviUe - ( Conlin ied) L. A N. mort. on L. C.AL,, gold,$3,208,000 p
Car trust liens ($1,721 payable each month).
Car liens, Louis v. Cin. & L ex......................
Henderson Bridge Co., 1st mort., gold ......*
Louisville New Albany A Chicago—StocK.. . . "
1st mortgage, coup, or reg.........................
2d mortgage, gold. coup, or reg.............
Consolidated mortgage gold (for $10,000,000) "*
Car Trust Certificates.......................................
Louisville New Orleans A Texas—StookllL” ” ! ! ’
1st mortgage, coup, or reg....................
Income bonds (not cumulative)..........
Lylcens Valley—Stock.............................
Mahoning Coal—Common stoek................................
Preferred stock, guar, by L. 8. & M. S
1st mort., coup., pr. & in t , guar., by L. 8. & m ’ Sc
Maine Central-Stock........ .
1st mortgage, consolidated............... ‘ ................
Collateral trust bonds for Mt. Desert Branch.......
Sinking fund 10-20 gold bond*___
Bonds ($1,100,000 loan) A. A. K. R R ....................
Extension bonds, 1870, gold.........
............
Maine Central loan for $1,100,000. .
European & North American (Bangor loan)..........
Leeds A Farmington Railroad loan
Androscoggin Railroad, Bath City loan.
Portland A Kennebec, consolidated mortgage
Manchester A Lawrence—Stock........................
Manhattan (Elev.)—Consol, stock, ($26,000,000>
Metropolitan Elevated, 1st mortgage..............
__________ ____________ 2d M. (guar, by ManhatrnV.
SUPPLEMENT.
[Vol. XLIII.
INTEREST OR DIVIDENDS.
Bonds—Princi
Miles Date Size, or
Amount
Due.
of
Par Outstanding
of
Rate per When Where Payable, and by pal,When
Slocks—Last
Road Bonds Value.
Cent. Payable
Whom.
Dividend.
175
.
521
288
158
520
.
455
455
455
21
43
43
43
482
304
41
55
18
109
56
36
30
71
26
36
14
18
1881
1882
$ 1,000
1,000
1881
1,000
100
1,000
1,000
1,000
1,000
1880
1881
1883
1886
1884
1884
1884
1872
1883
1885
1860-3
1870
1868
1869
1871
1866
1865
1878
1879
i'oo
1,000
1,000
20
50
50
1,000
100
100 &c.
1,000
100 Ac.
500 &c.
100 &c.
500 &c.
100 Ac.
100 Ac.
100 Ac.
100
100
1,000
1.000
$50,000
971,000
39,594
2,000,000
5,000,000
3,000,000
2,300,000
855,000
2,500,000
600,000
4,550,000
13,650,000
9,100,000
600,000
1.373,000
372,6 iO
1,373,000
3,603,300
4,175,900
444.000
600.000
1,100.000
496,500
756,800
1,000,000
633,000
425,000
1,166,700
1,000,000
24,270,400
10,818,000
4.000,000
M. & N. N. Y., 50 Exch. Place. Nov. 1, 1931
Philadelphia.
Oct. 1,1886-89
1886-88
e g . M."& S.
New York.
Sept. 1, 1931
§*■ A. A O.
‘ 6*
J.
F.
F.
A.
!* • J.
St
5"
6
2ifl
& ’ J. N.Y., Nat.Bk. Commerce
& A.
do
do
& A.
do
do
& O.
do
do
A D.
July 1, 1910
Aug. 1, 1911
Feb. 1, 1888
Jan. 1, l g i 6
1892
M.'&'s.
New York, Office,
August.
do
do
Q .-J .
New York, Treasurer.
Sept. 1, 1934
Sept. 1, 1934
Oct. 2, 1886
r. ä ' j . N. Y. Union Tr. Co.
r. & j .
do
do
?. A A.
1. A O. Boston, 2d Nat. Bank.
J. & D. Bost., Am.Loan& Tr.Co.
F. A A.
2d Nat. Bank,
I 8- M’nthly Boston,
do
do
A. & O.
do
do
S * J. A J.
do
do
6
J. & J. Bost., Merch’ts’ Nat.Bk.
6
J. A J. Boston, 2d Nat. Bank,
6
Q.—J.
do
do
6
A. & O.
do
do
5
M. & N. Manchester and Boston.
Q .-J . N. Y., Mercantile Tr.Co
6
J. A J.
do
do
6
JM. & N.
do
do
Jan. 1,-1886
July 1,1934
Aug. 2,1886
Aprii 1, 1912
June 1,1923
Feb. 1,1905
1890 to 1891
Oct., 1900
July, 1898
Jan. 1,1894
July, 1891
July, 1891
Aprii 1, 1895
May 1, 1886
Oct. 1, 1886
July. 1908'
Nov. 1, 1899
"2^2
5
3
5 &7
5
1883-84.
1884-85.
1885-86.
Total gross earns---- .$13,234,915 $14,351,093 $13,936,347 $13,177,018 i s l l . 86’ agaln8t $1’ 204’966 in 1885 ? net>$419,395, against $221,741 in
Oper’g ex. (excl.lax.) 8,099,595 8,823,782
8,182.255
8,213,295
Fiscal year ends Deo. 31. For 1884 and 1885 earnings, expenses and
charges were as follow s:
Net earnings............. 5,135,320 5,527,311
5,754,092
4,963,723
P e rct.o f ex. to earn.
61-20
61-48
1884.
58-71
62-33
Gross earnings...................................................... g>i 01^85
oq
* Includes rent, rent of cars and engines, Ac.
Operating e x p e n s e s . . . . . . . . . . . . . . . .
X,*332*035 $1,564,436
1,365,144
INCOME ACCOUNT.
1882-83.
1883-84.
1884-85.
1885-86.
Beceipts—
$
$199,292
$
$
$
Net earnings............
5,135,320
537,300
5.527,311
5,754,092 4.963,723
Income from invest's
134,771
272,833
198,591
207,807
Deficit.......................... - - - - - - .......................
$188,882
$338,008
Wm. Dowd, Pres't, N.Y. (V. 42, p. .125, 243, 365, 397, 604. Y. 43, p.
5,270,091
Total income............
5,800,144 5,952,683
5,171,530 334, 458.)
Disbursements—
„ 1L o “ IsU,lle ^ evJ Orleans & T ex a s—(«Tee map)—Line of road
Taxes.........................
339,409
309,450
379,845
370,814 Memphis, Tenn., to New Orleans, La., 455 m iles; Leland to Huntington.
Rentals.....................
67,000
67,000
58,333
15,000 Miss., 22 miles ¡Washington Co. branch, 34 m iles-total owned.5 1 1
Interest on debt.......
4,053,2.24 4,207,223
4,026,543
4,085,706 miles. Leased-Clinton to Port Hudson, La., 22 miles - total operated
Divid’son L. & N., N.
533 miles. This road was built in the interest of the Huntington system
AD. andM. A M ...
110,053
113,090
116,242
117,095 2* roads, and forms the connecting link in that system across the
Georgia RR. deficit..
11,000
49,299
44,815 p^ tin en t from Norfolk to San Francisco. The present company was
Miscellaneous..........
6,182
8,377
7,542
10,297 iqg i 9a id Srrht' f ’ l8 8 4 ,. Tb®roacl was opened for through business Oct.
13,1884. The moome bonds are a first mortgage on 750,000 acres of
Total disbursements. *4,575,868 f4,716,145 14,637,806
14,643,727 land in the Yazoo Delta. The first mortgage bonds are issued at $30.000
Balance,
surplus___
.
* -----722,699
1,116,337
1,356,890
692,495
* $28,400 to be refunded, included in surplus.
*
to foe refunded, included in surplus,
il Sr2’° i 210 be refunded, included in surplus.
|| $164,692 to be refunded, included in surplus.
from muersburg, Pa., to WilUamstown,
Pa., 20 miles, branch, 1 mile; total operated, 21 miles. It is a
GENEBAI, BALANCE AT CLOSE OP EACH PISCAL TEAR
1882-83.
1883-84.
1884-85.
* 1885-86. coal road leased and operated by the Northern Central Railroad since
Assets—
Jj
July, 1880. and previously by the Summit Branch RR. The lease is for
$
999 years from March 1,1866, and the rental is $62,500 per annum.
Road,equipment, Ac. 67,885,426 67,776,064 67,930,874 68,433.991
Timber &quar. lands
715,773
688,024
M a h o n in g Coal R ailroad.-A ndover to Youngstown, O., 38
689,941
598,746
Stocks owned.......... t8,565,852 t6,904,853
miles,
an<l branches for ore and coal, 5 miles; total, 43 m. On July 1.
2,005,590
1,298,347
Bonds owned..........
1,940,623
4,050,673
1884, the road was leased in perpetuity to the Lake Shore & M. S. The
4,249,861
4,435,098
StksAbds.heldin tFt 9,527,878
9,527,878
L.
s.
A
M. So. guarantees the principal and interest of the 1st mortgage
9,527,878
9,527,878
Bills & aco’ts. receiv. 2,011,330
1,922,803
1,771,487 1,935,654 bonds, and guarantees 5 per cent per annum on the pref. stock.
Materials, fuel, A c ..
833,112
762,273
726,624
926,262 „
C entral.—Mileage as follow s: Main line, Portland to BanCash onhand............
242,929
297,316
404,714
303,976
v ia 4n^ust?i’ 1 3 3 :miles; branches, Cumberland Junction to
So. & No. Ala. R R ...
1,454,904
1,565,968
1,733,805
2,071,723
Skowhegan,
90-7 miles; Bath to Farmington, 71*2 miles; Crowlev's
Nash. & Dec. R R ___
573,044
599,478
603,250
618,148 Junction to Lewiston, 4-7 miles; total owned, 303- 2 miles. Leased_
Other roads..............
921,690 1.172.928
1,567,793
635,978
Burnham
Junction
to Belfast, 33-1 miles; Newport Junction to Dexter,
C. C. Baldwin acc’tj.
1.005.929
850,809
850,808 14 m iles; Brewer Junction to Bucksport, 18-1 miles; Bangor to Vance50,000
Sinking fund.............
50,000
50,000
boro.
l.M
-l
miles;
Penobscot
Switch.to Mt. Desert Ferry, 41-7miles •
Profit and loss..........
2,479,344 2,068,666 total leased, 221 miles. Total operated, 527-2 miles
This
was
a
consolidation
in
1862 of the Androscoggin & Kennebec
Total assets........ 94,222,561 96,324,187 94,591,970 93,705,275
Railroad and the Penobscot & Kennebec. In August, 1873, the Port
Liabilities—
land
&
Kennebec,
Somerset
&
Kennebec
and L eed s* Farmington rail
Stock......................... 30,000,000 30,000,000 30,000,000
roads were also consolidated with the Maine Central.
Bonded debt*........... 57.903,230 57,530,712 61,958,314 30,000,000
61,355,254
Gross
earnings
from
Jan.
1
to
Aug.
31,
$1,945,832 in 1886, against
Louisville b on d s....
850,000
850,000
850,000
S
201,000 $1,831,127 m 1885; net, $766,802, against $698,085.
Debentures...............
567,400
529,800
The
annual
report
was
published
in
Y.
41,
p. 686. The ending of
Bills payable............
526,558
3,599,266
189.279
41,229 the fiscal year was changed in 1881 from Dec. 31 to Sept. 30. The
Interest.....................
445,359
475,759
499,435
*
501,528 report had the following:
Miscellaneous........ .'
36,094
34,933
34,774
34,327
FISCAL RESULTS.
June pay-rolls, &o..
1,130,936
1,236,152
1,060,168
1,571,937
■■■
1881-32.
1882-3.
1883-4.
1884-5.
Profit and loss..........
2,762,984
2,067,565
Total gross earnings $2,077,094 $2,835,494 $2,816,373 $2,839,779'
Expenses and taxes.
1,359,373 1,839,707
1,750,710
1,730,902
* £ ? taLUa!imti es" 94,222,561 96.324,187 94,591,970 93,705.275
Net earnings.
here.
b° ndS dep081ted in tUe $ 10,000,000itrust have been deducted
$717,721
$995,787 $1,065,663 $1,108,877
INCOME ACCOUNT
+
$5.000,000 L. A N. stock unissued,
Beceipts—
1882-83
1883-84.
1884-85.
t o it in thiB^um0UIlt’ the comp)ailJ claiming that Mr. Baldwin is indebted Net earnings..
$995,787 $1,065,663 $1,108,877
Other receipts.
29,121
10,421
7,828
% ’ V S - 215> 229, 2 4 0 , 254, 273, 392, 420, 445, 446.
Total in com e....
$723,089 $1,024,908 $1,076,084 $1,116,705
3, p f i l ; 73. i i e ,
.th
fm
«’ i f i g 8«7. ) 215' 304’ * 80,631’ 663,6M ! v :
Disbursements—
Rentals p a id ............
$54,000
$182,958
$189,000
$189,000
Interest on bonds...
569,542
644,146
661,395
701,767
71,822
Dividends.................
197,522
215,532
215,541
chiSS
20 miles, Howland s Junction to Indianapolis, 4 miles; New Albanv
to
Louisville, 5 miles; total leased, 29 miles; total operated, 520 milesf A
J?°r 999 JearsY^hChicago & Western Indiana at $127,000 per
n c r r f f l Cean° (?blca^0- In Feb., 1886, purchased the Bedford
& Bloomfield RR., 43 miles, to stone quames.
& Cllloago was opened in 1852 and sold
iv. fA ^ l0i fisi ^ ec- 2?,'a
reorganized without any bonded debt.
In Aug., 1881, consolidated with Chicago & Ind. Air Line, and stock
increased to $5,000,000, giving 15 per cent increase to stockholders of
record Aug. 31. In 1880 the company sold the $3,000,000 of first mort**48?bonds ^9 the stockholders at 20 cents on the dollar.
p886 were made for the authorized amount
of $10,000,000, of which $5,300,000 was reserved for the prior first
mortgages, $3,000,000 used to exchange for 2d mortgage bonds of
mortgage bonds of 1884 outstanding, and the balance
v
fouilding new road and for improvements, (Sec
V•
p, o o d j
For the nine months ending Sept. 30 gross earnings were $1,346,350
Total disbursed
$695,364 $1,024,626 $1,065,927 $1,106,308
Balance....................
$27,725
$282
$10,157
$10,397
—(V. 40, p. 61,717; V. 41, p. 445, 527, 549, 6 8 6 ; V. 42, p. 365, 519, 694,
783; V. 43, p. 102, 217, 334, 458.)
M an ch ester & L a w ren ce.—Owns from Manchester, N. H., to
Methuen (State Line), 22^4 miles; leased, Methuen Branch of the
Boston & Maine Railroad, 3% miles; total operated, 26 miles. Road in
operation since 1849. Formerly operated with the Concord ttr,
as one line, on a division of joint earnings. Methuen branch is
leased at a rental of $11,000 per annum. Company lays claim to a twofifths interest in the Manchester & North Weare RR., which is operated
by Concord RR. Ten per cent dividends are paid. The fiscal year ends
March 31. Gross earnings in 1885-86, $177,302; net, $100,6t>9. In
1884^5, gross, $174.578 ; net, $100,809
’
M a n h atta n E leva ted .—Road operated, 32-39 miles. This was a
corporation formed (Nov. 24,1875) to lease and operate the two elevated
railroads in New York City. Its capital stock was $13.000,000, and
it was to pay the interest on the bonds of the two elevated roads
BO N D S.
STOCKS A N D
R A IL R O A D
58
INVESTORS’
SUPPLEMENT.
[Vol. XLUI.
Subscribers w ill confer a great favor by g iv in g im m ediate notice ot any error discovered in these T ables.
______
DESCRIPTION.
INTEREST
Bonds—Princi
Miles Date Size, or Amount
For explanation of column headings, &c., see notes of
Par Outstanding Rate per When Where Payable, and by pal,When due.
of
Stocks—Last
on first page of tables.
Road. Bonds Value.
Cent.
Payable
Whom.
Dividend.
Manhattan (E evated)—Continued—
N. Y. .Elevated, isr M.(payable at 105 after 1896)
18 1876 $1,000 $8,500,000
7
J. & J. N. Y., Mercantile Tr. Co •Tan. 1. 1906
do
Deb -utu-es. coup ...
1886
1.000
1,00 >,000
5
M. & S
do
do
Mar. 1, 1916
Marietta «6 Vortti Georgia—1st mort., g o ld .............
1,000
1881
840,OjO
J,
& j.
6
g.
Boston,
July 1,1911
2 d mort. ($6,0 »Op r mile»............... ........ . . . . . . ..
1,000
1881
(?)
J. & j .
do
July
1, 1911
Marquette H. ot o .—common stock
100
3,39-1,100
l
ëPreferred stock............................. ............................
In 18S3
too
2,25 1,026
213 F. & A.
Aug.
16,1886
lstm o rt., M.As O.. coup........ .II” . * " ! ” ” . **” ” 1
1872 100 &o.
1,437.500
8
J. & D. Boston, N. Eng. Tr. Co. June 1, 1892
M. H. & O. mortgage__ ____ . . . . . . . " ” *11” """
1,000
1878
576,200
6
do
do
Mar. 1, 1903
Ponds for Extension, &c...... .*.*.” ” ' . " ” ” ."” 1
1883
1,000
1,2 L3,000
6
J.
& D.
do
do
June 1, 1923
M . H. & O. 1st mortg. on Mar. "¿ West . . . " ...........
1,000
1885
1,40 0,110o
6
A. & O.
do
do
April
1, 1925
Memphis <&Charleston—Stock................................
25
328
5.312,725
N.Y.W. H. Brown&Bro8
ls t& 2d. mort. extension bonds, Ala. & Miss’ b iv. 181 185 4
....
2,155,000
7
J. & J
do
do
2d mortgage, extende t................................ .
Jan.*l*1915
...
1867
105,000
7
J. & j .
do
do
1915
Consol, mort. go!d t 1st lien on 93 »am. in Tenn.j" 292 1877
1,000
1,400,000
7 g.
do
do
Consol, mortgage, g >ld.............................................
Jan. 1, 1915
292 1877
1,000
864,000
7
g.
J.
& J
do
do
Jan.
1, 1915
General m o r g , g Id ............................ 111” " . ” . 292 1884
1,000
1,00 >,009
6 g. J fr. -T. New York, Agency.
Jau. 1, 1924
Memphis <6 Little Rk.—1st preference mortgage
133 1877 l,000&c
250.000
8.
M.
N La3t paid May, 1882. May,
1883-84
General mort., land grant, (s. f. $10,000)............. 1 133 1877 250 &C
2.600,000
8
.T.
j
July, 1907
Mexican Central ( Mexico.j—1st mort., reg., gold * 1,340 1881
1,000 36.874,000
4 & 7g. •T. Sr. .T
Boston,
Office,
July
1,
1911
Income bonds, conv., not cumulative, reg.
1.000
8,128,-00
3
July 1
do
Coupon notes for int rest funded...........................
July 1, 1911
1884 100, &e.
3,840,000
10
•T.
J
do
July
1,
1889
Debentures (secured by collateral) (V. 39,'p. 733)
1,000
1885
2,500,000
10
do
April 1, 1895
Mexican National Railwag (Mexico).—1st M., gold
81-’82 1,000 24,330,000
6 g.
Last paid, Oct., 1883. 1911 & 1912
2d mort. debentures (income) ......................
1884 l.OOO&c 13.437,00 >
5
April.
Michigan Central—Stock......................
Jan. 1, 1974
1,468
100 18,738,204
....
3
Grand Central Depot.
1. 1884
Consolidated mortgage ($2.000.000 are 5s) 1........ 270 1872
1,000 10,000,000
7 & 5 M.
N N, Y., Union Trust Co. Feb.
M. C. Michigan Air Line mortgage.........
„
’ 103 1870
May
1,1902
1,000
1,900,009
8
do
do
Jan.
1,1890
Michigan Air Line 1st mort., assumed by M. C 111
10 1870
1.000
200.000
M. Ar NT’
8
do
do
Nov.
1,
1890
M. C. bonds, mort. on Grand River Valley RR. .
1,000
1879
1,500,000
■¡6
M. As S.
do
do
Sept., 1909
Kalamazoo & South Haven, 1st mort., guar........
1869
1,000
640.000
8
do
do
Nov.
1,
1889
'
do
do
2d mort., g u a r ......
1,000
1870
70,000
8
M. & N
do
do
Grand River Valley, stock, guar.............................
Nov. 1. 1890
---- 1 100
491,200
2bs J. As J.
do
do
July, 1886
» n d certain dividends. The original lease of May 20,1879, guaranteed
10 per cent per annum on the stocks, but this lease was amended in a U m n ? e r rw m ’ y w chw a*declm ed. In April, 1884, a receiver was
October, 1881, by agreements among the three companies, which were »ìacm ?in \ nn L ÌA p'^ gl+l8t’
receiver discharged and the property
■supplemented by an agreement of Nov. 14, 1881, for the surrender of J a n ifm a n * b a v f
of tbe « eneral mortgage. Trustees paid the
the stocks of the other companies, and the issue of new stocks by the connon' hnt ir?ÌyAn«885k50.Ui>i)n8JOIì. general mortgage, and Jan., 1886,
Manhattan Company, but this was never accepted by the Metropolitan 4*85 Àbont ^v^A AAA^ f ? fund the unpaid coupons prior to January,
W n Possession of the Court awaiting result
stockholders, ami, after litigation, it was decided against the Manhattan of th^i li tifarmi?
and^the^cqmpany.
18J?4> a n? v7 compromise agreement was made and afterward The^ref erenoc1
ratified by the stockholders of the three companies by which a l liabili
were
ties were assumed, and new stock was issued by the Manhattan OomM
.
------------- -----------pany to the holders of stocks in the other companies, v iz : For Manhat
tan, 85 per cent in new stock; for New York, 120 per cent; for Metro
e*?t r a l ( M e x l c o ) .- O n Dec. 31, >85, the mileage w a s politan, l l o per cent.
T7?ila l’i 6 tr m Mexico City north, to El Paso del Norte 1,225 miles
There are large claims pending against the elevated roads for damage nfiiesoifthn p I S ' ™ V .vi«on 11 miles of Guanajuato Branch, and 16
tio property on their tines, and many of these are before tlie courts.
ììdifu ?a1f e Paoiflo Division, had also been built, and a short brandi 7
In 1886 the debentures of the New York Elevated were issued for miles to stone quaiTy, makmg a total of 1,361 miles.
advances made by the Manhattan Co. foi new equipment, new construc « f w L Cf„mPan3Lwa8 incorporated Feb. 25,1880, under the general law
tion, tax arrearages, &c.
JV*a88acllu8ett8, and by transfer the oompany holds the charter from
TheiStockbol iers of the Manhattan Elevated RR. had the privilege ^i®M.®xlban Government, granted Deo. 5,1874, for a road from Mexico
-July, 1886, of taking $600,000 stock and $600,000 bonds of the Subur k ,,o d o ? o - 011' a.?T by modification including lines to Paso del Norte.
ban Railroad Co. on certain terms. See V. 43. p. 49.
m0, ? he company also has other rights granted
, *!®Ftile quarter ending June 30. gross earnings were $1,959,052 in H? ^be State of Chihuahua. The oompany has a subsidv from
1886, against $1.7,3,523 in 18*5; net, $980.361, against $859,082; the Mexican Government of $15,200 per mile on most of tie lines.
wuicn the Mexican Goverment issues to the Co. as the road is accepted,
surplus over mtcre-t, rentals and taxes $ 108,489, against $ 413,834.
m certificates of construction of the Central R ’y, to be redeemed with
The report for year ending Sept. 30 showed the following income"
b per cent of all duties produced at the maritime and frontier custom„
.
1883-4.
m
m
1884
-Gross earnings......................................................$6,726,359
$7,000,567 houses of the Republic.” In July, 1885, the Mexican Government
Operating expenses............................................. 3,884,949
3 967,983 stopped paying all subsidies, owing to itsj embarrassment; but
payment was to be resumed July, 1886. (See V. 42, p. 753.t The in
Net earnings.. .........................................$2,84l’,4IC
$3,032,584 comes are convertible into stock at par. The stock is $33,170,900.
interest on bonds, and rentals.......................... 1,381.713
1,459.043
In June, 1884, it was decided to pass the interest due July 1, and to
i Balance.....................
$1,459,697
$1,573,5+1 ask bondnolders to fund three coupons July 1, 1884, to July 1,1885. inDeduct dividends.............................................
1.170,000
1,560.000 elusive, amounting to $3,810,375, for which 10 per cent coupon notes
Surplus...... ..................................................... $ ¿■'9,697
$13.541 maturing m five years were offered, secured by deposit of the coupons,
The following is a statement of the number of passengers carried on and by an amount ot Mex. Gov’t subsidy certificates equal to the prin
The elevated railroads iu New York, and the gross earnings, since the cipal and mt. of the coupon notes. The total amount ot 1st mort. bonds
completion of the roads:
s ’
issued stood Dee. 3L 1*85, at $42,850,000, of which $5.976,000
Passengers. Earnings.
Passengers. Earnings. wei e m hands of company or trustees, including $2,500,000 deposited as
*
1878-79.. 46,045,181 $3,526,-25 1882-83.. 92.124,943 $6.386.506 collateral for the_deben:ure bonds.
1879 80.. 60,831,757
4,612,976 1863-84.. 96,702,620
In Dec., 1885, it was proposed to reduce the interest on 1st mortgage
6,723 832
188081.. 75,5 5,778
5,311,076 1884-85 103,354,729
7,00',566 bonds , to 4 ver cent, with an agreement to pay the remaining 3
188182
86.361.029
5,973,633 18*5-86 115.109,591
7,426,216 per cent in any year when earned, but not to be cumulative, and a
At the annual meeting in November, 188 the following directors were large proportion of the first mortgage bondholders assented to
elected; Jay ¡»'61 , R vl. Gall 1way, Russell Sage, Cuester W. <bavin, mis arrangemenr and exchange 1their 7 per cent coupons for a sheet of
Sidney Dillon, Edward M. Field, J. Pierpont Morgan, Cyrus W. Fiel 1 4 per ceots. See V. 41, p. 721. In July, ’S6, all coupons falling due were
John H. Hall, George J. Gould, Samuel Sloan, S. Wormier, S. V. Whiie’ pai l m cash aud i® in assented 1st m irrg. bds. in treasury of Co
—(V.41, p.420, 556, 654; V. 42. p. 243, 272, 604,7*3; |V.43, p.49,459.)'
- a ',rnUiS^ - Jan‘ }
188ri’ were $2,389,892, against
*11. ¡04 m l88o; net, $733,730, against $1,038,073.
M a r ie t t a de %° r i l i iJeorgia. —This narrow-iaugeread, compl ted in $2,
The
annual
report
for
1885
was
in
V.
42, p. 461. TheIincome
ii
account,
the fail of )H86, ex ends fro . Marietta, Ga., to Murpliy, N. C., 120 exclusive of subsidy, was:
i r'lt .m„,rr- bonds ar- at $ ,000 per m le and the second
EABNINGS
AND
EXPENSES.
RECEIPTS
AND
DISBU
RSEM
ENTS.
a t $o,000 ; stock is $1,560,000. R. M. Pulsifer, President, Boston.
Pass-nger earnings.......$1,100,269 Netearn’s (U. S. cur.) ..$l,3u8,395
M arqu ette H o u g h t o n Sc O n to n ag on .—Owns from Marquette Freight earnings............ 2,287,410
Deduct—
Mich., to Houghtou, 05 miles; branches, 65 miles; total operated. 160 Miscellaneous........ .
171,882 Expenses in Massachu’ts
89,981
nules. Has a land grant of about 80,000 acres. This was a consolidation
384,027
Iut. on notes of 1889___
Aug. 22, 187--, of the Marq. & Ont. R’y and. the Houghton & Ontonagon
T o t a l............................$3,559,561 6 mos. int. 1st M. (2 p o.) 731,480
Railway, and m 1883 consolidated with Houghton & L ’Anse Railroad Operating expenses___ 2,033,100 Int. on debent’s (9 mos.).
187,500
and completed the extension irom L’Anse to Houghton. In March. 1885
Miscellaneous interest..
32,590
purchased the darquette <x West, road, 27 miles, and issued therefor the’ Net'earn’s., Mex. cur’cy.$l,526,+ 6 l
above $l,40o,000 b >nds and $600,000 of common stock The business Net iu U. S. currency.,.$l,3t.8,395
Total
disbursements.
.$1,425,578
consists largely of the transportation of iron ore. The annual report
Deficit for year............... $117,183
for 1885-6 was published in V. 42, p. 630, and the iucome account
The net subsidy collections for the year 1885, in United States cur
showed a surplus of $14,528 over interest payments and 3 per cent
dividends ou pref. stock. Gross earnings in 188 * $834,143: net $364 - rency, were $590,352; total subsidy collected to Dee. 31, 1885. in U S
€88. (V. 40, d. 304, 542, 684, 7 1 5 ; V. 42, p. 519, 6 2 9 .)
*
’ currency, $3.149,393.
189’ 241’ 330> 392>420, 446, 585, 653, 721; V.
M e m p h is & C h a r le s t o n .—(Nee M a p o f E a s t Tennessee V ir - 7T>(V'
ff-J b 60, 93,125, 155, 215, 272, 431, 4 6 1 , 463, 753 ; V. 43, p. 88, 162,
g in t a di G eorg ia).— Owns from Memphis to Stevenson, Ala., 272 miles- obo.)
Dranchea—to Somerville 14 miles, to Florence 6 miles; leased, Steven*
Chattanooga,
operated, 332 miles. This road was
M exican N ation al R a ilw a y (M e x .)-J a n ., 1885, road built from
leased June 2,1877, to the East Tennessee Virginia & Georgia Rail- Corpus Christi to Laredo ( Texas & Mexican UR.), 161 miles; Laredo to
™a<*
years fr01V Jui£ 1> 1877- 0 f the consolidated mort- Saltillo, 23u miles; Matamoros Div., 76 miles; branches, 22 mUes; total
gdge, $1,400,000 are secured by the old Tennessee State lien fpr $1,736 - Northern Division, 494 miles; City of Mexico to Morelia, 235 miles:
906, assigned to a trustee, and thus srand higher in value.
Acambaro to San Miguel. 76 miles ; El Salto line, 51 miles ; Manzanillo
p i Sept.. 1883. a large block of the stock was obtained by parties inter- to A m en a , 29 miles; branches, 25 miles; total Southern Div., 416 miles:
.East Pennessee Virginia & Georgia RR., and in Sept total road finished, 910 miles, leaving a gap of 362 miles to be completed
to connect the Northern and Southern divisions. Built by the Mex Nat.
J ? !s t Co18tbr the EUT1V°& G ^ C o^ 6 & majority was put in tlie Central Construction Co., which received a subsidy of $11,270 per mile of road,
For two months irom July 1, gross earniDgs were $214,838 in 1886 seemed by 6 per cent of the Government receipts from customs. In
.against $179.640 in !885; net, $36.773,against $47d)20
’ ^ lY ’ol88^’
W j P a t e n t s were suspended, but partially resumed
-E:pjr til© yea;r ending June 30, 1885, gross earnings were 81,384,906 • in 1886. See V. 43, p. 103. Stock is $25,875,000; par of shares, $100.iqfl find
Q^5Pi at ■»■*» i ooa />
Coupons on an i after April 1,1884, were passed. In July. 1886, a new
plan of r organization was proposed, and after some delay a basis of
agr em nt for reorganization was reached, but some hitch occurred, and
Oc t , 1886 English aud American parties came to an agreement, and
M e m p h is & L ittle R o c k .—Owns from Little Rock. Ark., to Mem in
phis, Tenn., 135 mues. Default was made Nov., 1872, and the property a mndifit-d plan was to be submitted. (See V. 4 f, p. 459 )
Of me first mort, bonds $19,330,000 have interest April and Octo Bold m foreclosure. The new company also defaulted, and the road was
lold and reorganized April 28, 1877. The stock is $1,500,000 The her, and are due April 1, 1911, and $5,000,000 fall due July 1, 1912,
«company had a land grant from Congress of 1,000,000 acres. In April â»ud tlii ir interest is J. <& J. file second mortgage debentures were
1 8 8 0 , control of this company was purchased by parties in the interest issued in 18 *4, for new acquisitions, &c. Interest on the debentures is
only i earned and is not cumulative. For 1885 gross earnings
•of the St. Louis & Iron Mountain. Afterward default was made on payable
$1 3 1,627; net, $208.890. W. J. Palmer, President, N.Y. (V. 42,
* b e coupons and bondholders were offered a 6 per cent bond in place p.were
304, 631 ; V. 43, p. 88,102, 245, 274, 309,459.)
INVESTORS’
SUPPLEMENT.
V ol . X L III.
Subscriber« w ill confer a great favor l»y giv in g Im m ediate notice o f any error discovered in these Tables.
DESCRIPTION.
INTEREST
Bonds—Princi
Miles Date Size, or
Amount Rate per
When Due.
For explanation of column headings, <fec., see notes
of
Par
of
When Where Payable, and by pal,
Outstanding
Stocks- Last
on first page of tables.
Road. Bonds Value.
Cent. Payable
Whom.
Dividend.
Mich. Cent.—(Oont’d)—Detroit & Bay City 1st en’d. 145 1872-3 $ ....
$424,000
8
M. & N. N. Y., Union Trust Co. May 1,1902-3
M. C. mort. on Detroit & Bay City Railroad..........
1,000
145 1881
3,576,000
5
M. & S.
do
do
Mar. 1, 1931
Jackson, Lansing & Saginaw, consol, mort.......... 236 1871
1,000
1;943,000
8
M. & S.
do
do
Sept. 1, 1891
do
do
do
.......... * 298 1880
1,000
1,100,000
6
M. & S.
do
do
Sept. 1, 1891
Michigan <£ Ohio—1st mortgage, gold....................
154 1883
1,000
2,630,000
6 g. M. & N.
None overpaid.
Nov. 1, 1923
Middletown TJnionville c6 Water Gap—1st mortgage.
....
13 Ì 866
150,000
7 g. M. & N. N. Y., N. Y. Susq. & W
1886
do
do
2d mort. guar............
.... 1871
250,000
5
J. & D.
do
do
1896
Milw. Lake Shored West—Consol, mort., gold
1,000
346 1881
4,350,000
6 g. M. & N. N.Y., N. Bk. of Com’rce May 1, 1921
Income bonds (not cumulative)___
1.000
1881
500,000
6
M. & N.
do
do
May
1, 1911
Equipment b on d s....................................
1,000
1882
180,000
8
J. & J. N. Y., S. S. Sands & Co,
1892
Michigan Div., 1st mortg , gold (for $3,000,000)"!
1,000
75 1884
1,112,000
^ &• J. & J. N. Y. Bk. of Commerce July 1, 1924
Ashland Division, 1st mortgage, g o ld ....
1,000
40 1885
1,000,000
6 g. M. & S. N. Y. Bk. of Commerce Mar. 1, 1925
St. Paul Eastern Grand Trunk, 1st, gold, int-giiar!
1,000
56 1883
921,000
6 I- J. & J. N. Y , S. S. Sands & Co. Jan., 1, 1913
Funding notes...............................................
1,000
1885
300,000
7
J. & D.
do
do
1886-7-8
Equipment.......................... .................. ...................
1,000
1885
500,000
6
J. & J.
do
do
1890-95
Ontonagon, IstM .. gold ($15,000 a m ilej".*!!!!!!!!
....
1886
250,000
6
A. & O.
do
do
1896
Milwaukee & Lake Winnebago—1st mortgage, gold.
1,000
65 1882
1,430,000
6 g- J. & J. N.Y.,Farm. L. &Tr.Co, July 1, 1912
Income bonds, gold (cumulative).....................
1,000
1882
520,000
J.
&
J.
5
S'
July
1, 1912
Debentures, g o ld ....................................... ! . . . ! ! ! . ! !
1884
100,000
6 g- A. & O.
April 1, 1904
Milwaukee & Northern—1st m ortgage....
1,000
Ï26 1880
2,155,000
6
J. & D. N.Y.,Merch.Exch.N. Bk June 1, 1910
Bonds for $3,000,000 ($2,155,000 are reserved)!!
1,000
1884
1,598,000
6
J. & D.
New York City.
June 1, 1913
Mine Hill <&Schuylkill Haven—Stock....................
50
4,081,900
137
3k) J. & J. Phila.M.H. & S. H. R.Co. July 15, 1886
Mineral Banger-Stock.............
100
128,000
2 ia
G.—J. N. Y., H. S. Ives & Co, Oct. 5,1886
1st mort (for $ 200,000) c o u p . . . ! ! ! ! ! ! ! ! ! ! ! ! ! ! ! ! ! '! 12^ 1873 100 &o.
160,900
8
J? & D.
do
do
June, 1888
1st mort., gold, on branch and extension............
1,000
100,000
5
4ig 1885
A. & 0.
do
do
Oct. 1, 1915
Houghton extension, g o ld ..................................
....
1886
100,000
5
J. & J.
H.
S.
Ives
&
Co.
Jan. 1, 1916
Minneapolis <6 St. L.—1st M., Min. to Merriam June.
1,000
455,000
27 1877
7 g.
N.Y., Bank of Comm’ce. Jan. 1, 1907
1st mortgage, Merriam Junction to State Line ..
93 1877 500 &o.
950.000
7 g. J. & D.
do
do
June 1, 1927
1st mortg., Minneapolis to White B. Lake, guar..
1,000
15 1877
280.000
7 g. M. & N. N. Y., Cent. Nat. Bank. Jan. 1, 1907
1st mortgage, gold, coup. (Al. Lea to Fort Dodge) 102 1879
1.000
1,015,000
J. & D. N.Y..Bank of Comm’ce. June 1, 1909
7
g.
Improv. and equip, m., 1st series, coup................. 360 1882
1,000
2,000,000
6
J. & J.
do
do
July 1, 1922
Mortgage on Southwestern extension..................
1,000
53 1880
636,000
7
J & D.
do
do
Dec. 1, 1910
2d. bas., ino., 5 & lOyrs. (White Bear to Ft. Dodge) 172 1880
1,000
500.000
7
J. <& J.
do
do
1890
m e t i t f a n C e n tr a l.—Line op R oad .—Main line—Kensington to Arbor & Grand Trunk, 22 miles, to Toledo, O., and Wheeling & Lake
Detroit, 270 miles; and Windsor to Suspension Bridge (Can. So.). 226 Erie tracks to Manhattan Junction, 2 miles. In Nov., 1884 the inmiles ; total main line, 496 miles. Branches owned and leased—Mich
^ieDine R R ., 115; Jol. & No. Ind., 45; Grand River Valley, 84; Jack' ì A t o b e ^ d J v°^rd8oW?«sP«a8Sed/ia?^ a receiyer appointed. Foreclosure
295: K »1- & So. Hav 4 0 ; Det. & Bay City, 152; Sag. Bay it « ,? * ? 6 made^ ov- 2,1886, and the new company organized is to ex
& N o . W., 63; Tol. Can. So. & Det., 56; Can. So. Br. Co., 4 ; Mich. Mid tend the road about 121 miles; stock is to be $40,000 per mile of road
’han^ Ler cent:ltbonds are to be issued at $8,000 per
& Can., 15; Canada So. branches, 99 ; Sarnia Chat. & Erie, 7; Erie &
Niagara, 31; total branches, 1,004 miles; total operated, 1,501 miles l<.lling^Tn Ì . w “ S r 6SeeWVU
There are 121 miles of second track and 536 miles of side tracks,
i Oh^
atkin , L eases, &c.—The Michigan Central was chartered in
1$
piyme,lt8’ *17‘ s
£ 8
3.846 and purchased of the State of Michigan 144 miles of com- «
M id d le to w n U n io n v ille de W a te r G ap.—Owns from Mid£°ad and pompleted the whole line, Detroit to Kensington, in
1852. The Detroit & Bay City road was foreclosed Feb. 12,1881, and bv N ^ S n s l 4 ° J T nvme>
^ + te 1Line>13 miles. Is controlled
& West, by ownership of stock. In 1886 proposed to extend
purchased for the Michigan Central, which leased it and put a mortgage SL* ‘ Y‘
r®.ad> The other lines described above as leased are all held by £4^ 2 8 ^ et iV S n 5 ^?ars at 5.
ceut. Gross earnmgs in 1883-84,
the Michigan Central nominally under leases at fixed rentals, but are $40,289, net, $1.5,340. Gross in 1884-85, $38,489; net, $12,791 • deficit
practically owned. The land grant came from the Jaokson T,a.naino- & under mterest, &c., $14,303. Stock, $149,850. (V . 43! p . 162.)
Barfnaw company as stafc©d below. In Nov., 1882, a clos© contract was
Sfl o r e „& W e ste r n .—From Milwaukee, Wis.,
made with Canada Southern for working its road by the Michigaricen- to Ashiand, Wis., 391 miles, of which 4 miles are leased ; branches—
traland the division oi net profits over all charges—one-third to Canada Hortonville to Oshkosh, 23 miles; Manitowoc to Two Rivers, 6 miles’
Southern and two-thirds to Michigan Central; but the latter companv is Eland June, to Wausau, 23 miles ; Antigo to Malcolm, 11 miles ; Monico
entitled e+o an increase on this proportion as it diminishes its interest to Rhinelander, 16 miles: Clintonville to Oconto, 56 miles: branch to
charge by payment of bonds or otherwise.
™des ’ total ?PfFat®d>556 miles. This company was organized
Stocks and B onds —-The Michigan Central stock has remained at the in 187b as successor to the former company foreclosed in 1875
The
same amount since 1873. Prior to 1873 it was a regular 10 per cent company has $5,000,000 preferred stock ; and $1,900,000 common
« ^ i n l,8 ^ 3oPoa id 5I )er. cent and4 m scrip, bufafterw ard paid stock issued out of $o,000,000 authorized. Preferred stock has a pref
? d till 1878, and since then irregular amounts. Since 1870 erence to the extent of 7 per cent from net earnings. Gross earn’s from
dividends ha,ve been: In 1870-71, 10 per cent; 1871-72 10 -1 8 7 2 7k
noÌ0 Aug‘ ?
1886>against $816,146 in 1885; net,
4 m scrip: in 1878, 2 ; in 1879, 3 ^ ; in 1880, 8 ; in 1881 6^ - in
$ l o ? 6’ /33- Th.e ammal report for 1885 was given in
1882, none paid; in 1 883,5; in 1884. 3; in 1885, nil
’
^ oss receipts $1,374,807; net, $430,417; interest
The range in prices o f the stock has been as follows: In 1871.114®
ra ta ls. $366,845. In 1884, gross receipts were $1.116,378: net.
m l 872, 113®120; in 1873, 65@111; in 1874, 681e®95i«- in $372, d5 ° ; interest, $285,444: surplus, $85’913. (V. 40, p 2 8 ,6 1 ,4 5 1 ;
ko7®’ ^3®_82 i4; in 1876, 3468®65Jg; in 1877, 355r®744i in 187«
V .4 1 ,p . 685; V. 42, p. 2 4 1 ; V. 43, p. 162, 274, 334 )
’
’
’
f 81s f 7 5 ; m 1879, 7 3 9 8 ; in 1880, 75® 130ie;in 1 8 8 1,k % ® 1 2 0 - Q M ilw a u k e e & l a k e W in n e b a g o . — Owns from Neenah to
^ 188J L 77® 105’'
1883* 77®100ie; in 1884/ 5134® 9 4 4 ?
i fi «*’
4 6 ^ 0 7 9 % ; in 1886, to Oct. 23, 61ia®96.
m i885’ s f w w ^ r ^ Q ^ 18, Bmlt in l 882 and ieased for 99 years to WisoonThe Jackson Lansing & Saginaw debt is assumed by Michigan Centra 1 ^ a ^ e n tra l at 37^2 per cent of gross earnings as rental; but after
TbA^^nnn'
i)alance of net earnings is to be equally
which also pays $70,000 per year on the stock of $2,000,000? the pro! divider?0 Til©
$1,000,000 debentures were authorized to be issued as
° i J- L- & 8. lands go; to pay bonds, and in 1885 sales amounted required for improvements,
and they are convertible on any coupon day
to 5,936 acres for $97,860 (including timber), leaving 311191 acres mto
preferred stock; the lessee pays interest on them till 1894. Pref.
unsold, and land notes on hand, $308,865.
8
aores
F inances, &c.-TheM ichigan Central paid 10 percent of°sharesP|lOOnt cumulatlve’ $780,000; common stock, $520,000; par
dividends regularly till 1873, but becoming liable afterward for heavv
& N o r t h e r n .—Owns from Green Bay, Wis., to
®^%ations on leased lines, the company suspended dividends The q
i? 4
i branches—Menasha and Appleton to
road on through business is much affected by the competition between
Wisconsin & Michigan Railroad, Green Bay to Pike River,
®^d points eastward, and by the rates on through freights
k ° P ® rated’ 219; miles. Contracts for use of
For the half-year ending June 30,1886, the official statement (June ?
being partly estimated) was as follows:
ment (June S ?1T-1^ l ‘^SÌo?dtr+ack’ ? miles>mto Milwaukee. The stock is $2,155,000.
i ne w I 8^?.’ foreclosure was made and road sold for $1,500.000. It
„
.
1885.
1886.
Inc. in 1886.
■t^1 \
ug-’ 18^$149.120
\ Gros8•earnings
1883-4,
$5,436,000
Gross earnings...................... $1,973,000
$463,000 $011,0 6 2 , net, $165,636 ; fixed
charges,
surnlns in(R(12
RQq
Expenses and taxes.............
3,886,000
3,952,000
66,000
S
iS
?.S
A
a
ra¥^1
,SJ8S4-5-,®
5V-S06
=
mterest,
$153,186;
surplus
for
year,
$4,380.
(V.
41,
p.
307;
V.
43,
p.
Net earnings................... $1,087,000
$1,484,000
$397,000
Interest and rentals..............
1,320,000
1,290,000
dec. 30,000 t,***“ ® H11l & S c liu y lk ill H a v e n .—Owns from Schuylkill Haven,
P a+v,’
hranches, 137^ miles. Road was leased
Balance............................ def,$233,000 sur. $194,000
$427,000
f 2,1864, to the Pliiladelphia & Reading Railroad Co. for 999 years
Can So. prop’n of surplus.
47,640
at a rental of $326,552 per year. There is no debt, and 8 per cent divi
dends are paid. Operations are included in lessee’s returns.
Mien. Cent prop’n of surp.
$146 360
„ U 1® annual report for 1885 in V. 42, p. 573, had the following for the , M in e r a l R a n g e .-(S e e Map )—Houghton, Mich., to Calumet, Mich.
combined roads:
1882.
C
o
o
me
1833.
15*2 miles; branch, Franklm Station to Franklin, 2 m ; total 17 k, miles.
1884,
1885.
Warnings—
Opened Sept., 1873. Stock is $128,000, on which dividends of 10 per
$
$
$
Passenger.................
3,146,309
4,007,548
cent
per annum have been regularly paid since the opening of
3,464,560
3,162,342
Freight.....................
5,426,455
9,472,366
the road. In 1884 gross earnmgs were $124,892 ; net, $47,483 ; surplus
7,620,887
6,906,207
Mail, express, & c...
340,317
529,853
573,630
0Vf
riS
t6^ 8ot’ dm dends, &C., $19,115. In 1885, gross earnings, $81,429;
638,845
Total gross eam ’gs
8,913,081 14,009,767 11,659,077 10,707,394
T°“ 8u^plaBBeI,,' i*
Tot. oper. expens.
6,671,726
9,741,638
8,959,132
8,014,603
M in n ea p o lis & St. L o u is.—Owns main line, MinneapoUs
Net earnings....
2,241,355 4,268,129
2,699,945
2,692,791 Angus, 2o9 miles; Pacific Division, Hopkins to Morton, 92 miles ; Kalo
Branch, 2 miles; Lake Park Branch, m miles; total operated, 354^
INCOME ACCOUNT.
^
fr°m Minneapolis to St. Paul over St. Paul &
1882.
1883.
1884.
1885.
No.
Pacific RR. ; also owns from Minneapolis to White Bear, 12 miles,
Receipts—
$
$
which is leased to the St. Paul & Duluth RR
'
’
$
Net earnings...........
2.21L355
4,268,129
2,699,945
The bonds of the $1,100,000 mort. (1877), numbered from i m i to
2,692,791
Int.
“ and
— dividends
127,951
67,701
79,858
72,216
^ ichvi$1u0,00i l ini l 11)’-,are guaranteed by the Bur! Cedar
Total incom e.. . . . .
2,369,306
4,335,830
2,779,803
+n the X;5 miles were issued by the Minneapolis
2,765,007
Disbursements—
A Duluth Railroad before it was absorbed by this companv Preferred
$
Rentals pa id............
184,310
184,310
184,310
M n n n n n n 0»00^ 00 ^authorized and $4,ooofooo issued? common s t o c ?
184,310
Interest on d eb t. . . .
1,617,031
2,249,106
2,454,292
2,482.443 $9,000,000 authoiized and $6,000,000 issued; par of both $100 per
Can. So. (I3 of net)..
611,571
20,448
8,679 share. The projected Southwestern extension runs from Fort Dodge.
„ Total................... “ 1,801,371
g 1^ ’ ^ u - i , 32?. miles, with a branch to Council
3,044,987
2,659,050
2,675,432 Bluffs, 140 miles. R. R.
Cable, President, Chicago
Surplus for div’ds...
567,935
1,290,843
120,753
89,575
The
Wis.
Minn.
&
Pacific,
Red Wing, Minn., to Eagle Lake 84 miles
Dividends.................
374,764
1,124,292
and Morton to Watertown Junction, 121 mffes, is leased and operated
Rate of dividends..
(2)
( 6)
by this company, but the M. & St. L. has Z oD ffition fo ? thePbonds
alance.. .sur.193,171
oq w r
,
- —----- sur.l66,55l sur.120,753
’
; Pref'’ $3’080«000’ Charles F. Hatch, P r e ^
T ^ e b a ia n c e to credit of income account Dec. 31,1885 was *9 i f f « « « d ™ H n n S i f c
-(V . 40, p. 269; V. 41, p. 23; V. 42, p. 4, 22, 5 7 3 , 753; Y 43, p. 6,’ 23 . ¿ ' « f o f r ®a™iug8 were $1,714,753; net, $592,621; charges,
O TIeW gan & O h i o .—Road completed Nov., 1883, from Allegan ? o è ? ’781’ and ne* deficit after paying all charges was $11,708. In
Mich., to Dundee, Mich., 156 miles, using the tracks of the Toledo6fn n 42?p. f s e ^ V . ^ p 1^ 1? 1)’ 734’ 0 201 net’ $482’909’ fV .4 1 ,p . 1 3 2 ; Y.
OCTOBER 18£6.J
R AILR O AD
STOCKS
AND
BONDS.
61
IKYESTORS’
SUPPLEMENT.
[V o l . X L Iii.
Subscribers* w ill confer a great favor by givin g im m ediate notice o f any error discovered in these T a bles.
DESCRIPTION.
Bonds—Princi
INTEREST OR DIVIDENDS.
pal When due
Amount
For explanation of column headings, Ac., see notes of
Par Outstanding
of
Rate per When Where Payable, and by Stocks—Last
on first page of tables.
Road. Bonds Value.
Cent. Payable
Whom.
Dividend.
Minneapolis <£ St. Louis—(Continued)—
1st mortgage, gold, Pacific Extension.........
92 1881 $1,000 $1,382,000
6 g. A. A O. N.Y., Bank of Comm’ce. April 1, 1921
Wis. Minn. & Pacific.—1st mortg..................
205 1884
1,000 • 3,080,000
6
A. A 0.
do
do
Oet. 1, 1934
Minnesota <£Northwestern—1st M., g., $20,000 per m 129 1884
l,00u
2,588,000
5 g. J. A J. N. Y., J. G. King’s Sons. July 1, 1934
Mississippi <6 Tennessee—1st mortgage, senes “ A” . 100 1877
1,000
977,000
8
A. A O. N. Y., Bank of N. Y. April 1, 1902
1st mortgage, series “ B ,” (a second lien)__
1,000
100 1877
1,100,000
8
J. A J. N. Y.Bk of Manhat’n Co. July 1, 1902
Missouri Kansas <£ Perns—Stock.......................
1,441
100 46,405,000
1st m., gold, sink. fund, onroad andland (U.P.S.Br) 182 1868
1,000
2,067,000
6 g. J. A J. N. Y., Company’s Office. Jan., 1899
1st mortgage, gold (Tebo. & Neosho).....................
100 1870
1,000
347,000
7 g. J. & D.
do
do
June, 1903
Consolidated mortgage, gold, on road and land... 786 1871-3 1,000 14,786.000
7 g. F. A A. N.Y.. Mercantile Tr. Co. 1904-1906
“2d m.. income, exchangeable for genl. m. 5 per ct. 786 1876 500 Ac.
1,002,000
6
A. A 0. N. Y., 195 Broadway. April 1, 1911
2 d M. income coup, scrip..........................................
2,449,523
6
Booneville Bridge bonds, gold, guar....................
1,000
1873
898,000
7 g. M. A N. N. Y., 195 Broadway. May 1, 1906
«General consol. M.. gold ($7,740,000are 5s).......... 1,370 1880
1,000 21,165,000 5 A 6 g. J. A D.
do
do
Dee. 1, 1920
.East Line A R id River.............................................
. . . . 1880
....
430,000
6
J. A D.
do
do
19Ó0
Hannibal & Central Missouri, 1st mortgage..........
1,000
70 1870
754,000
7 g. M. A N.
do
do
May 1, 1890
Intemat. & Gt. North’n, 1st mort., gold................
1,000
776 1879
7,954,000
6 g. M. A N.
do
do
Nov.
1, 1919
do
2d mortgage.....................................
776 1881 500 Ac.
7,054.000
6
M. A S.
do
do
1909
do
Colorado Bridge.bonds....................
1880
225,000
7
M. A N.
do
do
1920
Missouri Pacific—Stock.... .......... ............................... 906
Too 40,000,000
1%
Q.—J.
New York, Office.
Oc t. 1, 1886
1st mortgage, gold (Pacific RR. of Mo.)................
1,000
283 1868
7.000,000
6 g. F. A A. N.Y., Mercantile Tr. Co. Aug., 1888
2d mortgage (s. f. $50,000 per annum)................... 283 1871
1.000
2,573,000
7
J. A J.
do
do
July, 1891
Real estate (depot) bonds.....................................
1872 500 Ac.
800,000
8
M. A N.
do
do
Sd mortgage............................................................... 299 1876
1,000
3,828,000
7
M. A N.
do
do
Consol. M., gold, for $30,000,000 (coup, or reg.).. 990 1880
1,000 14,710,000
6 g. M. A N.
do
do
Caron del et Branch, 1st mortgage........................ .. 151« 1873
1,000
245,000
6 g. A. A O.
do
do
Oct. 1, 1893
Leavenworth Atch. & N. W., 1st mort., guar.......
21 1870
1,000
190,000
7
A.. A O.
do
do
Oct. 1, 1889
St. Louis & Lexington, 1st mort.............................. . . . . 1880 500 Ac
650,000
5
F. A A.
do
do
Aug., Í920
St. L. Iron Mt. & So., 1st mort., coupon................
210 1867
1,000
4,000,000
7
F. A A.
do
do
Aug? Ì , 1892
do
2d M.. gold, coup., may be reg............... 310 1872
1,000
6,000,000
7 g. M. A N. New York or London.
May
l i 1897
do
Ark. Branch, 1st mort., gold, land gr- *
99 1870
1.000
2,500,000
7 g. J. A D. N.Y., Mercantile Tr. Co. June 1, 1895
do
Cairo Ark.& T., list, gold, cp.orreg.......
1,000
7 f 1872
1,450,000
7 g. J. A D.
do
do
do
Cairo A Fulton. 1st, g., on road A land.. 304 1870
1,000
7,600,000
7 g. J. A J.l
do
do
Jan. 1, 1891
M innesota & N orth w estern . — (See Ma^.
Disbursements—
1883.
1881.
Paul, Minn., via Lyle to Manley Junction, Iowa, 129 miles; the road from Interest on bonds................
$2,492,517
$2,439,618
Lyle to Manley Junction. 20 miles, is leased to the Central Iowa. Project Taxes, rentals, A c ..............
479,200
479,661
ed to be built in 1886, road from Hayfleld, Minn., to Dubuque, la., 170
miles, with bonds at $20,000 per mile under the 1st mortgage. The com
Total disbursements....
$2,971,717
$2,919,279
$2.750,073
mon s o c k was $1,941,000; pref. stock, $1294,000. and in Jan., 1886, Balance for year ............... sur.$371,497 sur.$508.144 sur.$2.8,280
there were issued in add tion and placed in trust$l,60ti,0u0 pref. and
INTERNATIONAL & GT. N<>. INCOME ACCOUNT.
$2,409,000 common stock against advances of money on the 170 miles
Receipts—
1883.
1884.
1885.
to be built. For nine months to June 30,188*, gross earnings were Net earnings.........................
$954,252
$624,722
$824.639
$287,051; net, $ 93,806; fixed charges, $92,000; surplus, $1,806. See Other receipts.......................
34,657
28,971
70,715
annual report for 1885 in V. 43, p. 72. A. B. Stickney, President, St.
Paul, Minn. (V. 43, p. 7 2 ,1 6 2 , 480 )
Total net income .
$988,909
$653,693
$895,354
M ississippi & T en n essee.—Owns from Grenada, Miss., to MemDisbursem ents—
-phis, Tenn., 100 miles. Capital stock, $825,455. Debt was consoli dated Interest on bonds. ...
$908,785
$914,417
$909,800
as above in 1877. A majority of stock was sold in May, 1886, to E. H Taxes, rental, A c.......
116,417
145,290
32,466
¡Hardman and others identified with the 111. Cent.RR.,and on July 1,
1886, default was made in the payment of interest on the Series B
Total disbursements....
$1.025,202
$1,059,707
$941,266
¡bonds, though an offer to cash the coupons was made. Earnings for three Balance for year...................
def $36,293 def$406,014
def.$45.912
years past were: 1882-83, gross, $522,101; net. $260,635; 1883-84,
gross, $545,016; net, $250,446; 1884-85, gross, $489,549; net, $153,413. —<4340’ 1622<43137, 6 0 6 , 625 1 V' 4 l’ P’ 557; V‘ 42, P' 394, 631’ 6 6 1 ;
— (V. 42, p. 2 1 , 604; V. 43, p. 23.)
M is s o u r i P a c if ic . — (See Map.). — L ine o p R oad . — Owns main
M isso u ri K a n sa s &. T ex a s .—(Sec Map Missouri Pacific)—L ine line from St. Louis, Mo., to Atchison, Kan., 330 miles; branches
JOV R oad—Hannibal, Mo., to Denison, Tex., 576 miles; branches, Holdens, 665 miles; total 995 miles. InMay, 1881, the St. Louis Iron Mountain
3Mo., to Paola, Kan., 54 miles; Parsons, Kan., to Junction City. Kan., 157 & Southern was taken in. July, 1883, the mileage was as follow s: From
.miles; Whitesboro, Tex., to Ft. Worth, Tex. (leased), 71 miles; Fort St. Louis to Texarkana, Texas Line, 490 miles; branch lines, Mineral
■Worth, Tex., to Taylor, Tex., 163 miles; Denison, Tex., to Gainesville, Point, Mo., to Potosi, Mo., 4 miles; Bismarck, Mo., to Belmont, Mo., 121
T ex., 41 miles; Denison to Mineóla, Tex., 103 miles; Denton, Tex., to miles; Poplar Bluff, Mo., to Bird’s Point, Mo. (Cairo), 74 miles; Gurdon,
.Dallas, Tex., 39 miles; Miller Junction, Tex., to Belton, 7 miles; Trini Ark., to Camden, Ark., 34 miles; Knobel to Forrest City, 97 miles;
ty, Tex., east, 67 miles; coal branches, 8 miles; Jefferson, Tex., to Mc- Forrest City to Helena, 43 m iles; Newport to Batesville, 27
sKinuey, Tex., 155 miles. Total, 1,441 miles. International & Great Neelyville to Doniphan, 20 miles; total, 906 miles.
Northern, from Longview, Texas, to Houston, Texas, 232 miles, and
Organization, Leases, Ac.—The Pacific RR. Co. (of Missouri) was
Palestine, Texas, to Laredo, Texas, 415 miles; branches—Longview to incorporated under charter dated March 12, 1849, and road opened to
-Jarvis. 29 miles; Houston to Columbia, 50 miles; Phelps to Huntsville, Kansas City in October, 1865. The company received a loan from the
8 miles; Mineóla to Troupe, 45 miles; leased—Round Rock to George State of Missouri.
town, 10 miles; Henderson to Overton, 16 miles; leased Gal. H. A H.
The Paciflo Railroad of Mo. was sold in foreclosure of the 3d mortgage
-road, Houston to Galveston, 50 miles; total operated 826 miles.
Sept. 6,1876, for the nominal price of $3,000,000, to C. K. Garrison
O rg an ization , H is t o r y , &c.—The M. K. & T. Company was organized and others, and a new company organized with a stock of $800,000.
April, 1870, and embraces by consolidation the Union Pacific Southern This foreclosure was afterwards contested by suit, but all litigation was
‘Branch, the Tebo & Neosho and other minor companies. In 1874 the Han settled in April, 1885. The present company was a consolidation in
nibal A Central Mo. was purchased. The company made default on its August, 188o, embracing the Missouri Pacific, St. Louis & Lex., Kansas
■consolidated bonds in Dec., 1873, and was ODerated by a Receiver from City & East, and Lex. A South, in Missouri; and the St. Louis Kan. A
Dec. 80,1874, to July 1,1876. when the Union Trust Company of New Anz. and Kan. City Leav. A Atch. in the State of Kansas.
■York took possession. On Dec. 1,1880, the company took possession
The St. Louis Iron Mountain A Southern stock was taken up with
o f its property, paying the overdue coupons. The company had a land Mo. Pacific in May, 1881, on the basis of three shares of Mo. Pacific for
grant which has been pi actually closed ou t; also a grant in the Indian four shares of Iron Mountain, and the St. Louis A Iron M. stock is
Territory of 3,622,400 acres subject to the extinguishment of the held by Missouri Pacific.
Indian title. The Booneville Bridge Company is a separate organiza
Sto ck and B onds .—Under the new regime the payment of dividends
tion, and earns interest and proportion for sinking fund.
was begun on the present stock in 1880, in which year 1*2 per cent was
At a meeting of stockholders May 18,1881, a lease to the Mo. Pac. for paid. Dividends since were as follow s: in 1881, 6; in 1882, 6*4; in
99 years was ratified on terms following: That the lessee operate the 1883, 7; in . 8*4, 7; in 1)585, 7.
road and pay the obligatory mortgage interest, pay.ng over the balance
The consolidated mortgage above is for $30,000,000—trustees John F.
to the Mo Kan. & Texas Co. If there is a deficit in income the lessee Dillon and Edward D. Adams. Of the consol, bonds the balance unissued
may advance money to pay interest, or in case of failure to make such ($15,290,000) is in the hands of trustees to redeem prior bonds as they
-advance the Mo. Kan. A Texas can resume possession of its road.
tall due.
The International A Great Northern Railroad was acquired by Mo.
For the payment for new lines acquired and to be acquired there was
Kan. &Tex. in May, 1881, Dy an exchange of two shares of Missouri issued early in 1886 $6,000,000 of n w st ick at par to old stockhold
# Kansas & Texas stock for one of International A Great Northern, ers; and $4 00 ',000 more later in 1886, when stockholders of record
■and the Int. & Gt. North, stock is held in the treasury of the M. K. A T. O ciob erl6 had the right to subscribe lor one new share for each ten of
The International & Great Northern company made default on its old. See circular, V. *3, p.459. These issues raised the stock to $40,bonds, and a receiver was appointed in April, 1878. Sales in fore 000, 000.
closure were made July 31 and Oct. 14, 1879. In the reorganization
Operations, F inances, A c.—The earnings and income account below
the lands of the company, amounting to about 5,000,000 acres, were are for the Missouri Pacific and its branches only (990 miles); for, not
«onveyed to the second mortgage bondholders.
withstanding the merger of St. Louis A Iron Mountain stock and lease of
Stock and B onds .—The stock has ranged as follows since 1877, Missouri Kansas A Texas, the operations of all the roads have been,
-viz.: In 1878, 2®71e : in 1879, 53s@35%; in 1880, 281e@4914; in 1881, kept separate and are so reported.
;3 4 78@54; in 1882, 2638@42:l3 ; in 1883,191a@3478; ix 1»84, 9 1aa)23:l4;
The annual report ot Mo. Pacific for 1885 was published in the Chron
In 1885,14
in 1»86, to Oct. 23, 21 a 377s.
icle , V. 42, p. 661. The earnings, income account and balance sheet,
The consol, mort. 7s, due 1904-6, had a sinking fund of 1 prr cent a have been as follows:
year, beginning in 1874, but the sinking fund not having been carried
1882.
1883.
1884.
1885.
out, it was reported in oct., ’86, that about 20 per cent of the bonds for Miles operated___
990
990
995
995
all back years, inc!. int. compounded, wouldb called in for redemption.
1,472,311
Passgrs. car’d (No.).
1,567,683
1,757,862 1,813,460
The general consolidated mortgage is at $20,000 per mile on all road Fr’t carried (tons)..
3,194,353
3,270,721
2,839,524 2,712,876
built audto b i built; of which $18,217,000 is reserved to take up first Gross ea rn ings...... $9,094,618 $9,153,731 $8,777,628 $7,943,562
consol, and prior bonds; $447,000 for the East Line A Red River bonds. Operating expenses.
4,324,888
4,978,465
4,492,877 4,338,319
There were $10,000,000 reserved to take up Income mor. gage bonds and
»scrip, andin Nov., 1883,an exchange was offered to the holders of Income Net earnings............. $3,769,730 $4,175,266 $4,284,751 $3,605,243
bonus, in these general mortgage bonds, bearing 5 per cent interest, at P.c. of op.ex. to earn.
53-44
54-39
51*18
54-61
-par, and to scrip holders at 60 per cent of the lace of their holdings
income account .
There are $32,000 of Hannibal & Cent. Mo. 7s 2d mort. ( M.& N. bonds)
Receipts
1882
1883.
1884.
1885.
:yet out, due in 1892; and also a small amount of old 8 per cent income Net earnings............ $3,769,730 $4,175,266 $4,284,750 $3,605,243
"bonds of International & Great Northern, exchangeable into Int. & G. Dividends, A c ..........
700,552
439,661
206,822
792,835
N. 2d mortgage bonds. The I. & G. N. also guarantees $2,000,000 of
Galveston Houston A Henderson 1st mortgage 5 per cent bonds.
Total net income
$4,470,282 $4,614,927 $4,491,572 $4,398,078
The annual report f r 1885, in V. 42, p. 661. had the following:
Disbursements—
MISSOURI KANSAS & TEXAS INCOME ACCOUNT.
Interest on bonds...
$1,598,390 $1,667,880 $1,798,200 $1,822,727
1833.
1884.
Receipts—
1885.
Dividends paid........
1,946,419
2,097,348 2,098,105 2,098,000
$7,843 511
$7,317,250
G ross earnings.
$6,853,655 Rate of dividend---(6*4)
(7)
(7)
(7)
348,068
420,296
775,036
568,848
$3,197,007
$2,970,0*4
¡Net earnings...
$2,798,554 Taxes, rentals, A c ...
146,207
Dividends, &c..
457,419
189,799
Total disburse...
$3,892,877 $4,185,524 $4,671.341 $4.489,575
Total net income.......... .
$3,343,214Jgfc$3,427,423
$2,988,353 Balance for year....sur.$677,405 sur.$ 129,403def.$179,769 def.$91,497
63
A N D BONDS.
STOCKS
R A IL R O A D
O c t o b e r , 1886.1
IK Y E STÖRS’
SUPPLEMENT.
[V o l .
xlttt.
Subscribers w ill confer a great favor by g iv in g Im m ediate notice o f any error discovered in these Tables.
DESCRIPTION.
Bonds—Princi
INTEREST OR DIVIDENDS.
Miles Date Size, or
pal, When Due
Amount
For explanation of oolumn headings, &c., see notes of
of
Par
Rate per When
and bv Stocks—Last
on first page of tables.
Road. Bonds. Value. Outstanding Centi Payable Where Payable,
Whom.
Dividend.
Missouri Pacific—( Continued) —
St.L.I.Mt.& So.,Gen.consol.M. (for $32,036,000) > 9 0 7 i 1 8 8 1 $ 1 , 0 0 0 $ 1 0 ,3 5 3 ,0 0 0
5 g. A. & O. N. Y., Mercantile Tr. Co. April 1, 1931
do
do
supplemental, gold J
1 8 8 1 -2
1 ,0 0 0
3 ,3 1 1 ,0 0 0
do
do
April 1, 1931
5 g- A. & 0 .
Mobile <&Oirard—2d mort., end. by Cent. Qa. R R ..
85
1869
1 ,0 0 0
2 6 1 ,0 0 0
8
J. & J. N. Y., Nat. City Bank.
Jan., 1889
3d mortg. bonds.........................................................
1877
1 ,0 0 0
8 0 0 ,0 0 0
4
J.
&
D.
do
do
June, 1897
Mobile <GMontg.—Stock................................................. Ï 8 0
....
100
2 , 9 5 0 ,8 0 0
3
N.
Y
.,L
.
&N.
Office.
Nov.,
1885.
1st mort. bonds by L. & N. RR. Co......................... . . . .
.
.
.
.
....
2 , 6 8 9 ,0 0 0
6
M. & N.
do
do
May 1, 1931
Bonds..........................................................................
«...
....
2 5 5 .0 0 0
Mobile <£•Ohio—Stock ($10,000,000)................ ......... 5 2 8
100
5 , 3 2 0 ,6 0 0
1st mortgage, g o ld .................................................. 4 7 2 1 8 7 9
1 ,0 0 0
7 ,0 0 0 ,0 0 0
" ê 'g . J. '& D. N.Y. Farmers’ L’n & Tr. Dec. 1, 1927
1st mortgage, extension, gold..................................
55
1883
1 ,0 0 0
1 ,0 0 0 ,0 0 9
6 g. Q,.—Jan
do
do
July 1, 1927
1st pref. inc. and s. f debentures, not cumulative . . . . 1 8 7 9
4 ,8 9 3 . 0 0 0
7.
Yearly. N.Y., 11 Pine Street.
do
2d
do
do
.... 1879
1 ,8 5 0 ,0 0 0
7
Yearly.
Last pd. 2 p. c. in 1881. Redeemable
do
do
3d
do
.... 1879
....
only by
6 0 0 ,0 0 0
7
Yearly.
do
do
4th
do
.... 1879
sinking fund.
9 0 0 ,0 0 0
7
Yearly.
Montgomery <£Eufaula—1st mortgage......................
81
1879
1 ,5 0 0 ,0 0 0
6
J. & J. N.Y., Nat. City Bank.
Montgomery <£ Florida—1st mortgage, g o ld ...........
30
1886
1 ,0 0 0
July 1. 1909
4 5 0 ,0 0 0
New York.
6 *• M. & N.
Montpelier <t Wells Bivei— Stock................................
38
....
50
1926
8 0 0 ,0 0 0
2
Boston.
Morgan’8 La.di Texas—Stock........................................
5 ,0 0 0 ,0 0 0
( i)
16
1st mort., gold (N. O. to Morgan City).................... Ï 0 2 1 8 7 8
1 ,0 0 0
Dec., 1884
5 ,0 0 0 ,0 0 0
7
A.
&
O.
N.
Y.,
So.
Pac.
RR.
1st mortgage, Alex. Extension, gold ...................... 1 5 7 1 8 8 0
April
1, 1918
1 ,0 0 0
1 , 4 7 7 ,0 0 0
do
do
g g• J. & J.
N. O. Opelousas & Gt. Western, debt assumed___
80
July 1, 1920
2 5 1 ,7 1 6
8
A. & O.
do
do
M om s <t Essex—Stock..................................................
132
50
April
1, 1889
1 5 ,0 0 0 ,0 0 0
3ia J. & J. N. Y., Del., Lack & W.
1st mortgage, sinking fund.......... ..........................
84
1 8 6 4 5 0 0 & c.
July 1, 1886
5 ,0 0 0 ,0 0 0
7
M & N.
do
do
2d mortgage................................................................
84
1866
5 0 0 & c.
M
a
y
l,
1914
2 ,9 9 9 ,0 0 0
7
F. & A.
do
do
Convertible bonds...................................................... . . . . Var’us 1 ,0 0 0
Aug. 1, 1891
2 8 4 ,0 0 0
7
J. & J.
do
do
Gen. m. & 1st on Boonton Br. &c. (guar. D.L.&W.)
34
1871
1 ,0 0 0
Jan.
1,
1900
4 ,9 9 1 , 0 0 0
7
A. & O.
do
do
Consol, mort. (for $25,000,000) guar. D. L. & W .. 1 3 7 1 8 7 5
1 ,0 0 0
Oct., 1901
6 ,5 5 7 ,0 0 0
7
J. & D.
do
do
..
Special real estate mortgage........................ ..........
June
1,1915
1 , 0 2 5 ,0 0 0
7
Real estate terminal mort. (guar. D. L. & W )....... . . . . 1 8 8 2
1 ,0 0 0
2 ,2 2 0 , 0 0 0
4U}&5 J. & J. N. Y., Del. Lack. & W. July 1, 1912
Nashua <6 Lowell—Stock.............................................
54
100
8 0 0 ,0 0 0
M. & N.
31a
Boston & Nashua.
Nov 1. 1886
.
Bonds ($100,000 are gold 5s, J. & J., 1900)........... ___ ’ 7 3 - ’ 8 0
3 0 0 .0 0 0
6 & 5 g. F. & A. Bost. Safe Dep. & Tr.Co 1893 & 1900
Nashville Chattanooga <6 St. Louis—Stock...............
554
....
25
6 ,6 6 8 , 3 6 2
1
New York & Nashville. Oct. 11, 1886
GENERAL BALANCE DEC. 31.
^ I irPss eamings for eleven months from July 1 to May 31 were $ l 862
Assets—
1883.
1884.
1885.
2 /6 in 1885-6, against $1, " 2,23.9 in 1884-5; net, $516,825 in 1885-s”
Cost of road and equipment..........$39,950,939 $40,618,132 $41,633,992 against
$ d40,346 in 1884-5.
Investments in stocks and bonds.. 22,324,316 21,776,077 22,650,933
The report for 1 8 8 4 -8 5 was published in the C h r o n i c l e , V . 4 1 , p . 4 1 8
Materials and supplies on hand___ 1,185,718
1,094,682
1,080,774
•
f
L
tai
ei r t o the railroad wars, and consequent low rates, could be*
Cash on hand....................................
779,050
577,844
549,779 attributed
the loss in revenue with an increase of tonnage during the'
Uncollected earnings.....................
731,661 2,343,359 1,503,316 winter.
“ The decrease in both tonnage and revenue during the other
months
can
accounted for by the short cotton crop and the depression
Total assets............................... $64,971,684 $66,410,094 $67,418,794 in business be
generally.” * * “ The increase in the passenger traffio
Liabilities—
consisted
entirely
of through travel and chiefly of visitors to the N. O.
Stock.......................................
$29,962,125 $29,974,800 $29,974,800 Exposition, who were
carried at extremely low rates.
Funded debt..................................... 26,895,000 28,895,000 30,000,000
Operations for four years ending June 30 w ere:
Interest due and accrued..............
496,433
504,693
512,400
1881-82.
1882-83.
1 8 8 3 -8 4 .
1 8 8 4 -8 5
Vouchers for December, &c.................................. 2,430,651
2,150,8062,016,404
$
$
Miscellaneous.................................................................................
122,911
121,893
Total gross earnings... 2,164,274 2,271,058
2 ,2 7 8 ,9 1 7 2,101,025
Income account...................................................... 5,064,564 4,884,794 4,793,296
Oper. expenses & taxes 1,602,145
1,641,024
1 , 5 4 7 ,4 6 7 1,576,186
________________
Total liabilities......................... $64,971,684 $66,410,094 $67,418,794
Net earnings................
562,129
630,034
731,450
524,839
St . Louis I ron Mountain & Southern.—This company defaulted on
Disbursements—
its interest in 1875 and finally made a compromise with its bondholders, Interest on mort. bonds
456.000
456.000
471,200
432,400
issuing income bonds for overdue coupons. The company afterward Interest on incomes___
106.000
159.000
265,000
exchanged these for the new 5 per cent mortgage bonds.
There
are yet outstanding $73,000 of old income 8 per cents of Cairo & Fulton.
Total in terest........
562,000
615,000
736.200
482,400
The Mercantile Trust Co. of N. Y. is trustee of the general consol, Balance...........................
Sur. 129 Sur. 15,034 Def.4,750 Sur.42,439
mortgage. The stock is all held in the treasury of the Missouri Pacific
Railway Co., having been retired in May, 1881, by the issue of three —(V. 40, p. 182,281, 304, 685; V. 41, p, 51, 76, 356, 4 1 8 , 473, 612,
shares of Mo. Pac. stock for four of St. Louis & Iron Mountain. The 720; Y. 42, p, 22, 93, 156, 243, 363, 549, 631, 783.)
sales of land in Arkansas on which the Cairo & Fulton bonds have
M o n tg om e ry Sc E u fa u la .—Montgomery to Eufaula, Ala., 80
a lien are given in the report for 1885 as 33,017 acres for $110,056 miles. The road was foreclosed May 1,1879, bought by W. M. Wadley,
(incl’g lots). Lands yet unsold, 863,340 acres.
and the present company organized.
Operated under contraot by
The report for 1885 was published in the Chronicle, V. 42, p. 661, Cent. RR. of Georgia. Stock is $620,000. Gross earnings year ending
and the mcome account was as follow s:
June 30,1884, $299,470; net, $90,763. Div. of 1 0 p. c. paid in Apl., ’83.
INCOME ACCOUNT.
M o n tg om ery Sc F lo r id a .—Owns from Montgomery, Ala., to
1883.
1884.
1885.
Gross earnings
...........
$7,904,683
$7,451,.897
$7,311,639 McBrides, 30 miles, a n i in progress towards Cuattahoochie, Fla. This
was formerly the Montgomery Southern road, and was foreclosed in
Receipts—
May, 1886, and reorganized. C. W. Scofield, President, 115 Broadway.
Net earnings..
$3,690,120
$3,464,599
$ 3 ,6 1 9 ,4 1 6
95,054
Other receipts.
M on tp elier Sc W e lls R iv e r .—Owns from Montpelier to Wells
44,727
4 4 ,7 4 1
River, Vti, 38 miles. Reorganized January, 1877. D. R. Sortwell,
Total net income............
$3,785,174
$3,509,326
$3,664,157 President, East Cambridge, Mass. Gross earnmgs for year ending
Disbursements—
March 31,1885, $92,814; net, $17,774. Gross in 1885-6, $94,747; net,
$2,259,193
Interest on bonds................
$2,206,854
$2,215,304 $8,262.
Taxes,br’ge and car ex,, &c.
479,486
554,093
397,522
M o rga n ’ s L o u isia n a Sc T ex a s R a ilro a d Sc Steam ship Co.—
The road owned is from New Orleans to Cheneyville, 204 miles;
Total disbursements
$2,738,679
$2,760,947
$2,612,826 branches, 55 miles; Cheneyville to Alexandria (under track agreement;,
Balance for year..................sur.$l,046,495 sur.$748,379sur.$l,051.331 24 miles; total, 283 miles. In February, 1883, the stock was sold to the
—(V. 40, p. 28,182, 336 ,4 8 1 , 5 0 6 , 508 ; V. 41, p. 24, 77, 356, 744 - V Southern Pacific parties, and the Southern Pacific Company held (Deo. 31,
42, p. 22, 93,125, 339, 387, 463, 6 6 1 , 728, 753, 783; V. 43, p. 245, 309 1885; $4,062,700 out of the whole stock of $5,000,000. This company’s
459.)
property consisted of seventeen iron steamships plying between New
M o b ile & G irard.—Owns from Columbus, Ga., to Troy, Ala., 84 York and New Orleans and between Gulf ports, also wharves, ware
miles. Common stock, $985,415; preferred stock, $278,967, and $3,980 houses, and terminal facilities, besides the capital stock of railroad and
Pike County stock. From June 1,1886, this road was leased to the cither companies, including a|majority interest in the capital stock of the
Central of Georgia for 99 years at a guaranteed dividend of Us per Houston & Texas Central Railway Co., &c. Gross earnings 1883,
cent per anuum. There are also $19,000 3d mort. 6 per cent bond«, due $4.416,390; net, $1,885,714. In 1884 gross earnings were $3,629,004;
June 1,1897. In 1885-86, gross earnings, $217,757; net, $59,185. (V. net, $1,163,136. In 1885 gross earnings were $4,232,018; net, $1,602,43, p. 103, 398.)
476; rentals paid, $230,050; interest on debt, $458,757; taxes, bet
M o b ile & M o n tg om ery —(See map Louisville <£• Nashville) — terments, &c., $155,662; total, $844,469; balance, surplus, $758,007.
Owns from Montgomery, Ala., to Mobile, Ala., 180 miles. The Gross earnings from Jan. 1 to Aug. 31, $2,528,899 in 1886, against
old road was sold in foreclosure Nov. 16,1874, and purchased by bond $2,417,379 in 1885; net, $569,430, against $796,262. (V. 41, p. 23.
holders, who organized this company on a stock basis, in Nov., 1879, 134,216,357, 745; V. 42, p. 243, 365, 694, 7 8 1 ; V. 43, p. 133, 163.)
$1,550,000 of the stock owned in this country was purchased by parties
M o r r i s Sc E s s e x .—Owns from Hoboken, N. J., to Phillipsburg,
in the interest of the Louisv. & Nashv. RR. at 80, giving the control to N. J., 84 miles; branch, Denville, N. J., via Morris & Essex Tunnel, to
Hoboken,
N. J., 34 miles; leased Dover to Chester, 10 m iles; Newark &
that company, which now operates it. The old mortgage debt outstand
ing is about $230,000. The Louisville & Nashville Co. has issued Bloom. RR., 4 miles; total operated, 132 miles. In 1868 this road
$2,689,000 bonds secured on this road, which are pledged for the collat was leased in perpetuity to the Del. Lack. & W. RR. The lessees assume
eral trust bonds of that company. Gross earnings in 1884-5, $1,240,143; all liabilities of the Mor. & Essex RR. and pay 7 per cent per annum on
net, $414,545; int. and taxes, $214,222; but., $200,322.
the capital stock, and they also agreed to pay 8 per cent in case the
M o b ile Sc O b io .—Owns from Mobile, Ala., to Columbus Ky., 472 Morris & Essex earns 10 per cent on its stock in any one year after the
milea, and extension (by Kentucky & Tenn. RR.) to Cairo, 21 miles; year 1874. The Morns & Essex is important to the Delaware Lacka
.branfhes—Artesia, Miss.,to Columbus, Miss.. 1A miles; Artetya, Miss., wanna & Western as a route with terminal facilities on New York Har-toBtirkville,,Miss., 11 miles; Muldon, Miss., to Aberdeen, MIsS., 9 miles,- hor, but the actual earnings on the road show a large annual deficit for
total operated, 527 miles. In July, 1885, the gauge Was changed to the lesse e company after the payment of rental. The loss to lessen was
standard, 4 feet 8 ^ inches, at a cost of about $28 per mile. In Decem in 1880, $1,012,416; in 1881, $985,890; in 1882. $941,550; in 1883,
ber, 1885, a lease of the St. Louis & Cairo RR. was taken for 45 years at $1,104,218; in 1884 about $1,100,000;- in 1885 about $900,000.
a rental guaranteed to amount to $165,000 per year.
N ashua Sc L o w e ll.—Owns from Lovell, Mass., to Nashua, N. H.
A default was made May 1, 1874, and two trustees and receivers took 15 miles. On October 1,1880, a lease fo r -99 years to the Boston &
possession May 8,1875, and the company was reorganized without fore Lowell was made. The rental is $60,000 per year, equal to 7 ^ per cent
closure. The holders of debentures have one vote for each $100, and each on stock, payable absolutely, and $4,000 (or one-half of one percent
year they instruct the Farmers’ L. & T. Co., trustees, how to vote at more) is payable contingent upon the amount of gross earnings, and 8
the stockholders’ meetings upon the majority of the stock of the Mobile <fe per cent has been paid as rental for the past three years. The funded
Ohio Railroad Company, the power to vote upon which is irrevocably debt of $300,000, principal and interest, is assumed by the lessee, and
with the Farmers’ Loan»& Trust Company, until the extinguishment the lessor holds the lessee’s notes for the same amount—$300,000.
o f said debentures. The capital stock authorized by the charter is
N ash ville C hattan ooga Sc St. L o u is .—Owns from Chattanooga
$10,000,000, or 100,000 shares of $100 each, of which there have been Tenn., to Hickman, Ky., 321 miles; branches—Wartrace, Tenn., to
issued 53,206 shares. The debentures are secured by a deed of trust of the Shelbyville, Tenn., 8 miles; Bridgeport, Ala., to Inman, Tenn., 25
land, about 1,143,222 acres, and receive 7 per cent, if earned. In Jan., miles; proprietary lines—Nashv. to Lebanon, 30 miles; McMinnville
1886, there were in the sinking fund $437,000 of the first debentures.
Branch, 61 miles; Deoherd to Fayetteville, 40 miles; Centreville
In August, 1881, 7 per cent was declared on 1st preferred incomes; Branch, 47 miles; Duck River RR. (leased), 48 miles; total, 580 miles.
also 2 per cent on 2d incomes. In August, 1882, 2 per cent on the
A majority of the stock ($3,385,000) is owned by the Louisville &
first preferred incomes ; in 1883, 3 per cent; in 1884, 5 per cen t; in Nashville RR. Company and pledged among the collaterals for the
1885, 3*3 per cent.
rust loan of that company.
1
O c t o b e r , 1886.]
R AILR O AD
STOCKS
AND
BONDS.
Subscribers w i l l confer a great fa v or by g iv in g im m e d iate notice o f a n y error discovered, in these T a b les.
. _____ :_____ ______ ________ _____ :-----------------------------'
___
DamW.. 1
Bonds—Princi
INTEREST OR DIVIDENDS.
pal, When due.
DESCRIPTION.
Miles Date Size, or
Amount Rate per When Where Payable, and by Stocks—L ost
Par
of
of
For explanation of column headings, &c., see notes
Dividend.
Whom.
Cent. Payable
Road. Bonds Value.
on first page of tables.
Nashville Chattanooga dt St. Louis—( Continued) —
1st mort. (for $6,800,000), coup......... .................... 340 1873
2d mort.......... ....................................... -......... ......... 321 1881
Bonds held by U. 8. Government............................
1877
N. C.& St. L., 1st M. on Fayette. & McM. branches
1877
do
1st mort. on Lebanon Branch..........
1877
do
for Jasper Branch............................
do
for Centreville Branch.....................
1886
do
for Term. Coal & Iron RR................
Duck River RR., 2d mort., endorsed........ .
Nashville dt Decatur—Stock, guar’d 6 p. c. by L. <&N.
1870
1st mort. guar. s. f .....................................................
1867
2d mortgage, income.......................... - ....................
Natchez Jackson dt Columbus.—1st mortgage.......—
Mortgage bonds (for $600.000)...............................
Naugatuck—Stock.........................................................
1883
Bonds...........................................................................
Nesquehoning Valley—Stock.......... ........ - ----1879
Nevada Central—1st mort., gold (smk. f., $20,000)
1871
Newark dt Hudson—1st mortgage...............................
1869
Newark Somerset <&\Straitsv., O.—1st mortgage.---1877
NewburgDutchess dt Connecticut—Income bonds...
1868
Newburg dt New York—1st mortgage.........................
New Castle dt Beaver Valley—St?ck . . . . . . . . . . . . . . . . .
1885
New England dt Southwestern—1st M. ($6,000,000).
68&70
New Haven dt Derby—1st & 2d mortgages— . . . . . . .
New Haven dt Northampton—S tock ............................
1869
Mortgage bonds, c o u p o n ..........-- -- .........- .........
1870
Holyoke & W. .leased, 1st M. <$200,000 guar J . . . . . .
1879
Consol, sink, fund $15,000 per yr. &mort. bonds.
1881
27
Northem Extension....... . . . . . . . . . . . . . . . . -------- •
1886
Convertible bonds for extension to Shelb. Falls...
1880
3*0
New Jersey dt New York—1st mort. (reorganization)
J. & J. N.Y., Continental N.Bk. July 1, 1913
7
$6,300,000
July 1, 1901
do
do
J. & J.
6
1,000,000
June 1, 1891
do
do
J. & D.
4
k 500,000
Jan. 1, 1917
do
do
J.
&
J.
6
480.000
1,000
Jan. 1, 1917
do
do
J. & J.
6
300.000
1,000
1907 & 1923
do
do
J.
<
fe
J.
6
&
8
173.000
1,000
Jan. 1, 1923
do
do
J. & J.
6
376.000
do
do
1909
6
500.000
do
do
Nov. 1, 1909
M. & N.
6
71,000
Nashville.
June 6, 1886
J. & D.
3
1,642.557
J. & J. N. Y., 50 Exoh. Place. July 1, 1900
7
1.900.000
1,000
6 g. A. & 0. Nashv., 4th Nat. Bank. Oct. 1,1887
178.000
500
N.Y., Bank of America.
1885
10
' 174,400
27,500
Bridgeport, Conn.
July 15,1886
J. & "j.
5
2,000,000
100
J. & D Bridgeport, Treasurer. June 1, 1913
4
150.000
l.OOO&c
2 ^ M. & S. Philadelphia, Co.’s office Sept. 1, 1886
1.400.000
50
750.000
6 g. A. & O. Last paid April, 1884 Oct. 1, 1904
1,000
Sept., 1901
N. Y. L. E. & W. RR.
M. & S.
7
250.000
1,000
800.000
7 g. M. & N. N. Y., Union Trust Co. Nov. 1. 1889
500 &C.
1977
1,164,500
J. & J. N.Y.,Office N.Y.L.E.&W Jan. 1, 1889
7
250.000
1,000
Newcastle,
Penn.
Oct.,
1886
Q.—J.
10
700.000
50
M. & S. N. Y. Central Trust Co. Sept 1, 1925
6
1,000
TO
N.
Haven,
Mech.
Bank.
1888
&
1900
Various
7
525.000
500 &c.
New Haven.
O c t , 1873
3
2.460.000
100
do
do
Jan.,
1899
J.
&
J.
7
1.300.000
1,000
6 & 7 A. & O. N.Hav.,N.Tradesm’s Bk A pr.l ’91 & ’98
260.000
1,000
do
do
April, 1, 1909
A. & O.
6
1,200,000
1,000
do
do
April, 1911
A. & 0.
5
700.000
1,000
700.000
M.*& N. N.Y., Mercantile Tr. Co. May 1, 1910
~6*
400,000
5Ö0&«.
to Tamenend, Pa., 17 miles; Tunnel Branch, Hauto, Pa., to Lansford,
In October, 1886, this company purchased the Tenn. Coal & IronRR., Pa 1 mile; total operated, 18 miles. Opened in 1870, and was leased
paying for it $500,000 in thirty-year bonds.
for 999 years to the Lehigh Coal & Navigation Co. at a lease rental of
The company had net income m the year 1885-86 of
«130 000 per annum. In Sept., 1884, the lease was modified so as to
all expenses, but paid no dividend; in Oct., 1886, resumed dividends nav 5 per cent a year only, and the stock has been extended for 20
years, with a guarantee of 5 per cent per annum.
% o r ythenthree month^'from July 1, gross earnings ^ % e9||6q3f| 9^ n1!1
1885, against $540,647 in 1885; net, $279,222, g a in s t $222,988, sur y Nevada C entral.—(Äße Hap Union Pacific.)—Battle Mountain to
Ledlie 86 miles; branch, Ledlie, to Austin, 7 m iles; total. 93 miles.
plus over interest, taxes and improvements, $87,040, against $38,8bt>.
Stock ’ $1000,000. There are $250,000 8 per cent income bonds due
1930 ’ which are held by the Union Pacific, as also $.159,000 of the
EARNINGS AND EXPENSES.
1385-86. stock Default was made Oct. 1,1884, on the bonded interest, and re
1884-85.
1883-84.
1882-83.
ceiver
appointed Feb., 1885. Gross earnings in 18.85, $68,062; net,
$
$
$
Earnings—
$
601,820 $2,879; deficit under interest, &o., $42,120. Gross in 1884, $98,289; net,
649,737
663,618
621,171
Passenger..........................
1,429,468 $5,934; deficit over interest, &o., $39,066. (V- 40, 241.)
1,435,878
1,559,765
Freight .............................
153,821
155,10 t
148,703
N ew ark & H u d s o n .—Owns from Bergen Junction to Newark,
Mail, express, rents, &o..
143,477
N J 6 miles. Leased to New York Lake Erie & Western at a rental
2,188,10» of $33,000 per annum, which pays interest on bonds and 7 per cent
Total gross earnings---- 2,283,523 2,372,086 2,240,719
Total operating expenses. 1,274,855 1,303,446 1,304,002 1,322,858 on the stock of $250,000. Cortlandt Parker, President, Newark, N. J.
N ew ark Som erset & Straitsville.-O w ns from Newark, O., to
865,251
936,717
Net earnings............... 1,003,663 1,063,640
60*45 Shawnee O 44 miles. Road was completedm 1871. Leased to Sandusky
5801
54-94
55-80
P. o. operat’gex. to e ’rn’gs
Mansf. & Newark for 14 years from J an. 1,1872. Operated by the Balt.
& Ohio which pays 30 per cent of gross earnings, and advances any
INCOME ACCOUNT.
additional amount necessary to meet the interest on the debt. Capital
1885-86. stock
1881-85.
1882-83.
1883-84.
common. $795,400, and preferred, $218,200. Gross earnings in
«
$
$
$
Net Receipts—
1882-83 $164'781; net, $19,511; loss to lessee, $29,922. In 1883-84,
865,251
936,717
Net earnings..................... 1,008,668 1,068,640
gross
$168,532;
net, $757; loss to lessee, $49,802. In 1884-85, gross,
11,947
77,247
29,072
Miscellaneous receipts...
$118,430; deficit, $29,102; loss to lessee, $64,631.
Total in com e.............
Disbursements—
Interest on debt & taxes.
Improvements............... .
Total disbursements.
Balance, surplus...............
$1,000
1,000
865,251
«
675,096
1,085,915 1,097,712
$
$
662,320
650,972
266,802
106,077
104,465
948,664
$
682,273
558,401
45,221
755,437 1,035,199
62,513
330.478
740,674
207,990
720,317
144,934
GENERAL BALANCE AT END OP EACH FISCAL T E A R .
1882-83.
1883-84.
1884-85.
1885-86.
A¡¡set*_
$
$
$
$ _ '
Road and^equipment....... 16,19^82316,316,65516,950,2^
75,758
*81,322
352,876
562,/27
Assets not available........
478,714
481,314
Inv’tm’ts in st’ks& bonds
472,590
462,940
19,067
18,132
Bills receivable............, - 8,387
8,722
67,961
62,461
Real estate.........................
-.oo’« ? «
277,372
250,436
Due from agents, &e.......
19b,988
188,919
311,058
264,408
Cash.......... ........................
325,006^ 300,217_________
____________
Total...................
17,635,534 17,920,544 18,108,314 18,324,836
Ciroitai^stomk".................
6,670,331 6,670,331 6,661,363 6,668,362
Bonded d e b t. . " . . .......... 8,757,000 8,903,000 8,998,000 9,200,000
288,047
467,268
591,499
Bills p a y a b le ...............
597,132
31,092
42,947
97,348
140,327
Bal’ce due individ’ls, &e.
296,905
290,905
287,970
283,740
Int’st coupons due July 1
17,048
18,323
21,942
15,082
Dividends. .. ..................
85,152
72,721
75,490
66,256
Pay-rolls, &c.....................
153,600
153,600
153,600
153,600
Int’st on b’ds held by U. S.
13,616
15,119
3,686
3,899
Miscellaneous...................
948,167 1,115,678 1,381,068 1,571,014
Profit and loss..................
Total............................ 17,635,534 17,920,544 18,108,314.18,324,836
* $502,749 was charged off to “ Road and Equipment” during the year.
—IV 40 n 92, 241, 253, 363. 481, 625, 741; V. 41, p. 76. 189, 307, 331,
8 5 5 , 4 i5 , 585, 721; V. 42, p. 125, 272, 397, 519, 631, 753; V. 43,
p. 132, 245, 334, 3 6 7 , 459, 487.)
N ash v ille & D ecatu r.—(See Map Louisville <&Nashville.)—Owns
from Nashvilie, Tenn., to Decatur, Ala., 122 miles. The road was
leased May 4, 1871, to the Louisv. & N»shv. RR. for 30 years from
July 1,1872, at a rental of 6 per cent per annum on the stock. The
lessee assumed all the debt o f the Nashville & Decatur Co. In 1882-83,
cross earnings, $1,034,231; net, $380,207. In 1884-85 gross, $l,b61,956; net, $466,168; interest and taxes, $291,061; surplus, $175,106.
N atchez J a c k so n & C o lu m b u s.—Owns completed road from
Natchez, Miss., to Jackson, Miss., 100 miles. Stock, $2,260,809. New
6 ner cent bonds authorized but up to 1885 not issued. Floating debt
Deo 3 1 ,1 8 8 4 , $329,493. Earnings for 1883, gross, $177,221; net,
$54,952. In 1884, gross, $181,859; net, $58,917. Earnings for 1885,,
$194,358; net, $60,923.
N au g a tu ck .—Owns from Naugatuck Junction to Winsted, Conn.,
56ia miles; leased, Watertown & Waterbury RR., 4 ^ miles; total oper
ated, 66 miles, 5 miles of New York New Haven & Hartford being used
between Naugatuck Junction and Bridgeport. Operations and earnings
for three years past were as follow s: 1882-83, gross, $712,865; net,
8229,994; 1883-84, gross, $676,714; net, $225,615; 1884-85, gross,
$651,242; net, $213,26*2; interest and dividend charges, $204,464.
N e s q u e h o n in g V a lle y .—Owns from Nesquehoning Junction, Pa.
N ew bu rg D u tch ess & C on necticut.—Owns from Dutchess Juno.
N Y to Millerton, N. Y., 59 miles. The Dutchess & Col. RR. was sold
Ail“- 5 1876 and this company was organized Jan. 8,1877, by the pur
chasing bondholders. In addition to above incomes, there are $150,000
1st mort. 7s, due in 1907. In 1884-85, gross earnings $131,923;
net. $13,864; deficit under interest, &c„ $2,511. In 1883-84, gross,
$177 383 • net $1 022. The common stock is $172,000 and preferred
stock $715,350. John S. Schultze, President, Matteawan, N. Y.
Newbur«- & N ew Y o r k .—Owns from Vail’s Gate Junction to
Greenwood Junction, N. Y .,1 3 miles. Leased Ootober 5,1866, to Erie
RR., at $17,500 per annum (being interest on the bonds),and operated
now by New York Lake Erie & Western. Has no stock.
N ew Castle & B eaver V a lle y .—Owns from Homewood, Pa., to
New Castle, Pa., 15 miles. Road in operation since 1860. Leased to
Pittsb Ft. W. & Chic. RR. for 99 years at a rental of 40 per cent on gross
earnings. Lease transferred to Pennsylvania Company. There is no debt.
In 1879 13 per cent dividends were paid; in 1880, 13 p. o . ; in 1881, 24
p. c.: in 1882,14 p. c.; in 1883, 29 p. c; in 1884, 19 p. c. Gross earnings
in 1885, $171,682; rental received, $68,672; gross in 1884, $270,245 ;
rental received $103,098.
N ew E n g la n d & So u th w estern .—This road, as projected, will
extend from Brewsters, N. Y. (junction of New York & New England,
New York & Harlem and New Kork City & Northern), to and across the
Hudson River by bridge at Storm King, to a connection with the Erie,
West Shore, New York Ontario & Western and the Lehigh & Hudson
railroads on the west side, making 26 miles of road in all The com
pany was formed by act of the New York Legislature of 1850, as
subsequently amended, and the act of 1880, chapter 582, and claims
the Tight to bridge the Hudson. The stock is $3,000,000 and the bonds
$6,000,000, which stock and bonds are taken by the Phoenix Bridge
Company of Phcenixville, Pa., and they have contracted to build the
structure within two years.
N e w H a v e n & D erby.—Owns from New Haven, Conn., to Ansonia,
Conn., 13 miles. Capital stock is $446,600, of which New Haven city
owns $200,000. New Haven City guarantees the $225,000 second
mortgage bonds, and has a claim o f about $300,000 for money ad
vanced? Negotiations have been pending between the.company and the
city for an adjustment. Gross earnings in 1884-5, $150,737; net,
$63,792. In 1883-84, gross, $158,206; net, $65,023. (V. 39, p. 581.)
N ew H a v e n & N o r th a m p t o n .-Operated from New Haven,
Conn to North Adams, Mass.. 123 miles; branohes—Northampton to
Williamsburg 8m iles; rarmimrton Conn., to New Hartford,Conn., 14
miles- South Deerfield to Turner’s Falls, 10 miles; to Tariff ville, Conn.,
1 mile- leased—Holyoke & Westfield RR.. 14 miles; total, 170 miles.
In April 1881, a controlling interest in the stock was sold to New York
New Haven & Hartford parties. In 1884-85 gross income was $804,099: net. $275.704; surplus over charges, $9,230. In 1883-4, gross,
$ 340,213; net, $273,640; surplus, $2,128.
(V. 41, p. 688; V. 43,
p. 132.)
N ew Jersey & N ew Y o r k .—Owns from Erie Junction, N. J., to
Stony Point, N. Y., 31 miles; Nanuetto New City, 5 miles; Hacaeusack
to Erie Junction, 6 miles. Leased—Garnerville RR., 1 mile; total oper
ated, 37 miles. Organized Sept. 4, 1874, by consolidation of the Hacken
sack & New York RR. and the Hackensack & N. Y. Extension RR.; re
ceiver appointed in 1877, and the two roads were separately foreclosed.
The present company was formed on reorganization in Apm, 1880.
Stock. $2,000,000 common, $800,000 preferred. In Jan., 1886, the
Hackensack RR., previously leased, was consolidated into this ©•imumv.
Gross earnings in 1884-5, $168,064; expenses, $130, 63; net earnings,
$37,301. Gross in 1883-4- $210.649; expenses, $202,523. (V. 42. p.
215, 597,753.)
6 6
IN VESTORS’
SUPPLEMENT.
[V ol . m
a
a .b w r t b e r . W1U C° ° fer » * ' M a r ‘" - r W
* Im m ediate n otice o f
error H o o v e r e d In . b o . . T . b l ~
__________ DESCRIPTION.
---------- —
-----------INTEREST
IBonds—Prin ci
Miles Date Size, or
For explanation o f column Headings, &c., see notes of
Amount
__
pwlj
VTHull
U'
p a l,W
h e n XJ
Due.
of
Par
Rate per When Where Payable,
on first page of tables.
and by Stocks—Last
Road. Bonds Value. Outstanding
Cent. Payable
Whom.
1 Dividend.
■'
N. J. Southern—1st mort. (int. guar, by N.Y.& L.B i
liOng Branch «fe Sea Shore, 1st mort., guar........
hew London Northern—Stock..........................
1st mortgage bonds.......................... .......................
2d mortgage.....................................
Consol, mortgage (for $ 1 , 5 0 0 , 0 0 0 ) ...............
Newport News A Mississippi Vafrty—Stock.
New Orleans A Norlheastern—Prior lien mort gold
New York Brooklyn A Manhattan B each- Stock
N. Y. & Man. Beach RR.. 1st mortgage.................
N.Y. B.&M.B., 1st consol, mort., gold _____
N. Y. A Canada—1st M., sterling, guar. D.& H. Can.
New York Central A Hudson Riva— Stock.. .
Premium bonds (N. Y. Central) ext. 10 y ’rs, ’83.
Renewal bonds.............................
N. Y. C. & H.,5 $30,000,000 Ï ____ ....................V
mortgage ... ) £2,000.000 5 couP°n or reg.i
Debenture bonds (for $10,000,000),coup, or reg
N. Y. Chicago A St. L.—Stock ($22,000,000 is pref.j
1st mortgage, gold, coup, or reg..................
2d mortgage (for $ 10,000,000) ................................
Equip, bonds (principal payable $100,000* yearly)
N. Y. City A Northern—General mort....................
New York A Greenwood Lake.—1st mort., income
2d mort., income.......................................................
New York A Harlem—Common sto ck ............... ".
Preferred stock..................................... . . " ..............
Consol, mort., coup, or reg., (for $1*2,000,000)
N. Y. Lackawanna A Western.—Stock, guar., 5 p.ct.
1st mortgage, coupon, may be registered.............
2d mort., guar, by D. L. & W. (for $5,000,000)___
78
i ’o o
1879
1869
$600
1,000
100
100
100
121
18¿*5
1872
1880
500 &c.
1,000
~
1885
1JKK)
lOO&e.
14
187*7 50*6 &c
18*5
S,000.
1874 £100<tec
....
100
. . . . 1853 500 &c.
1854
1,000
8*4*6 1873
1,000
840 T873
1.000
1884 l.OOO&c
___
523
100
513 1881
1,000
513 1883
1,000
1882
1,000
*62 1880 500 &c.
40 1875 100 &c.
....
100 &c.
15*6
50
156
....
50
132 1872
1,000
213
....
100
200 1880
1,000
200 1883
1,000
All.
150
993
Navr Jersey Southern.—auo îuau oïmjuub irom rort raonmoutn
Bandy Hook, to Ateo, 70 miles, with branch from Eatontown to Pt Mon
$1,449,600
200.000
1,500,000
300,000
387,500
812,000
(?)
1,372,000
1,000,000
500,000
783,000
4,000,000
89,428,300
6,450,000
2,391,000
30,000,000
9,733,333
7,850,000
50.000.000
15,000,000
1.046,000
4,000,000
3,697,000
900,000
1,800,000
8,500,600
1,49 »,400
11,650,000
10,000,000
12,000,000
4,450,000
6
7
Us
6
7
5
J. & J
J. & D
Q.~J.
N. Y., 119 Liberty St. July 15, 1899
New York.
Dec. 1, 1899
New London, Office.
1, 1886?
A. Af. O. N. Y., B’k of N. America July
Sept., 1885
J. At T).
do
do
July, 1892
j. & j.
do
do
July, 1910
New Y ork Agency.
'6 g- A. & O.
Nov. 1, 19157
J. Ar. J N. Y., Corbin Bank’g Co
5 g. A. Ar. n
do
do
M. ife Ñ London, Baring Bros.
1 .
Q.—J. N. Y., Or. Central Depot,
M. Ar. W
5
do
do
6
J. Ar. r>
do
do
7
do
do
6 g. J. Ar. J
5
"vi. & s.
6 8
7
6
■T. Á7 T»
M. Ar. 8.'
A.
Ar.
O
M Ar. N
7
7
M. & 8.
7
1%
J. & J.
M. & N.
Q.—J.
T. Ar. J.
F. & A.
4
4
5
Last paid Dec.,’84
Last paid Mch. ’ -5
Last paid Oct., ’84
Last [taid Nov. ’81
do
Jan. 1, 1807
Oct. 1, 1935
May 1, 1904
Oct. 15, 1886i
May 1, 1899
Deo. 15, 1887
Jan. 1, i9 o a
Jan. 1, 1903s
Sept. 1, 1904»
Dec. 1, 1921
Mar. 1, 1923s
Oct 1,’85 to ’94
May 1, 1910
do
do
do
do
do
N. Y. by D. L. & W.
do
do
do
do
July 1, 1880
July 1, 1886May, 1900
Oct. 1, 1886=
Jan. 1, 1921
Aug. 1, 1923
' Finances. & c.-T h e New York Central & Hudson
ha* an exception a ly rich local traffic, but the profits aiso
mouth, 9rmiles.
The property was sold in foreclosure
March 31.1879
(see
f'nRCWTi’
b, V o n r, QWi „„fi +v,„
_____________
t . '.•''“y"
^ S E “ 3^
28’ £• ? 5? )’ ? n.d tbe Present company was organized July de?ime iT,e£Ln]UCl1 UDOn harmony among the trunk lines 1 The large
+7. decline in net income was partly owing *o genera.) d-nression. but also
.othebuilding of the New York West Shore A Buffalo road.
ea Shore Railroad. This latter bond is endorsed by “the United , - ? r ^ 1 ? ’ ? ^ase of the West Shore Railway was taken for
a™ Jersey. The above mortgage is for $1,590,600, of 475 tears and Urn bonds of $50.000,000 at 4 per cent, guaranteed, by N
^10 ' i(>0 000 West Shore stock taken as "*
which $1,449,600 have interest guaranteed by the New York & Lone Jonsfderaii™
Branch Railroad by endorsement of the bonds, and the Central of New consideration. Tile AschI year ends SepD. 30.
Jersey agreed to assume those bonds. The road is operated as \ of^
em
em
h
A
^
if^
fa
'^
n
^
^
30'
1|886’J eturns *were as follows, the month
part of the Central New Jersey system. Suit was brought in August ’85 oi September in 1886 bemg partly estimated:
,
,8 h5.
Percent.
188*5
P ero’t
against the Central of New Jersey Co. for interest overdue. Gross earn „
Gross earnings...............$24.429,441
$30,. 00,0 0
62 21
ings in 1 8 8 5 $ ! 8,574; net deficit, $80,340. <V.41,p.189.)
66 80
18.97. ,000
Operating expenses....... 16,319,372
N e w L o n d o n N o r t h e r n .—Owns from New London. Conn, to
Brattleboro, Vt., 121 miles, of which 100 miles leased to J. G. Smith and ’
Net earnings............ $8,110 Of 9
$11.527,000
others. This road has been operated since Dec. 1,1871, under lease to First charges..................
5,933,726
7,250,000
the Central \ermont Railroad; the lease was for 20 years at $150 000
J®ar, and $15,000 for each additional $ 100,000 of earnings over ¿ i Proflí ........................ $2,! 76,343
243
$».277,<00
4 79*
5enyea5v Consolidated mortgage bonds issued to retire all Dividends p a id ..............
3,129,a90
3350577,<100
4 00»
other funded and floating debt and to pay for branch purchased from
Vermont & Massachusetts RR. In 1884-5 gross e irnings were$552 050
Balance..... .............. Def.$ 53,647
Sur. $70 ,000
net. $214.606; rentals and interest received $2™,47;1 m id interesr
A n n u a l í e p o r t f o r 1 8 8 4 -5 i n C h r o n i c l e , V. 41, p . 7 4 *.
„ ,
Net Income, DivipiU8, ’tih
<p ’r?daVddend (6 Per cent), $90,o00 ; miscellaneous, $8,334 ; s<ir
ending Passenger Freight (ton)
Gross
over exp., dends,
N ew ?
V alley .-T h is is the company fo-med iK«i w q S
m o
A Reoeipts. int.&rents. p .c. Surplus
to lease and operate all the Huntington lines between Newport News
2,646,814,098 $32,348,395 $7,892.827 8 $754,484»
V a , and NewOi leans No v e y precise information has yet been ob
2,394,799,31°
30,628,781 5,743,004 8 «i;40 1 ,6 0 »
tamed in regard to the leases thus lar made.
3
° ° í § 8? - 429’á85’ r>61 2,200,896,780
------33,770,722 7,327,156 ■8
179,024»
•:§7’ 829’886 LOTO,0 8 ;,U S
28.148,667 4,668,759 8 *2.490,885'
N ew Orleans & N ortheastern.—Line of road from New Orleans
La., to Meridian, Miss., 196 miles. S>oca is $5,000,000. This roaTbe- 1^8^ ‘Íá? ’3y7-774: ¿’ 1 7 S2 4.205 24,429,441 2,17b,342 3% *953,651
Deficit. In 1881-5 total deficit was $2,295,072.
longs to the so called “ Erlanger System.” and of the stock *4 on no
41» P-113, 161,445,527, 612, 653, 689, 709, 721,722, 7 i 4 ; V. 42_
A^n
dl8t mortgage bonds are held by the
p.
22,
108, 217,519, 631: V. 43, p. 5, 23, 399.)
S dppllment J
Paclüc Junction Co. (See title of that company in the
N ew Y o r k Chicago de St. L o u is.—Buffalo, N. Y., to Grand CrossN ew Y o r U B r o o k ly n & M a n h atta n Beach .-F ro m Fresh mg> Di-, 513 miles; leased in Buffalo 1 % miles; Grand Crossing to Chi
Pond Junction to Manhattan Beach, and branches to Bay Ridee and cago 9 miles; total, 523 miles. This Company was formed iu 1881 and
Greenpoi t, 20 mile-. This was a c msolidation Aug. 2 7 ,1 ^ 5 ofth e N became known as the ” Nickel Plate.” Of the stock $22,000.000 i®.
i* . Jamalca RR.. the N. Y. & Manhattan B. Railway Co prefen-ed 6 per cent. In October, 1882, the sale of a majority of the*
and the L. I. <ity A dan. B. RR. Co. The railroads are leased for ou stock to a syndicate took place, including 124,800 shares of common
years from 1882 to the Long Island RR. Co. at 35 per cent of gross 8toi í
J4V’ñí >.° PJe' erred, at the respective prices (as reported) of 17'
earnings, but the i en ^ guaranteed to be at least $977540 m each fea r aiid 37. The L. Sh. & Mich So. owns this stock.
On March 2*, 1885. D. W. Caldwell was appointed receiver on appli
—( V ^ T p fl fs ^ ir S ^ v 1143!rpf ir2 ô 1 f0r 7 per cent’ but not cumuia4ive' cation of second mortgage bondholders, and default was mad* ou equipr£ n tWTvY ? r k i * C a n a d a ._ ° w n s from Whitehall, N. Y .,to Rouse’* meat bonds April 1. These bonds are secured on the roiling stock.
rom t’ N. Y., 113 miles; branches: Tioonderoga, N. Y., to Baldwin which was purchased in 1*82 for $6,Oo0,O00, of which *2,0 <0,000 w as
ult> on the first mortgage interest occurred June 1
N, Y .,4 miles; Plattsburg, N. Y., to Ausable, N Y., 20 miles West
18 j
• 6 oondRolders’ committee as constitmed December, 1885,.
and their proposed method of action, were given in V. 4 ,, p. t>53.
In the foreclosure suit, S<pt, 18*6, the Lake St ore party, repre—
Z n i e “ C e 6 S î T m m o X CT “‘
wlio],
sent.ng 2d mortgage, floating uebt and a majority of the stock, opposedthe
toieclosure on the ground that the corpoiation v\as invalid. (SeeS t l 6 2 T7lo T „ M t o 1 S r * 7 l l ? r T u g l & g S Î M
net, $203,781; loss to lessees, $62. *47.
’^
’ * 613'572 V. 43, p. 334.)
No annual report for 1885 was issued, hut the earnings, &c.. were a®
N ew Y o r k Central & H u dson .-L iN E op Road -Owns from follow s: Gross«arnings, *3.203,317; net, $769,53**; interest on bonds,,
New York City to Buffalo, N. Y., 442 miles- h™ ^hM ™
$1,092,760; interest on floating debt, $51,257; reut of terminal faoiliCentra1 division, 307 miles; total owned, 749b m iles? iin e f l ^ a ï d - !íí?5„and equipment, $216,1 >1; indebtedness prior to receivership»
Troy & Greeenbush, 6 miles; Niagara Bridtre A Oanandaiima o q m*i
$328,504; total, $1,718,672; deficit tor year, $949,135.
fP u ^ u D u y v ii& P o r t Morr s, 6 m tle s fN e l Y o r S H a r t e ^ f i l f 2 f f i5
For the quarter ending June 30, the returns were as follows
Lake Mahopac, 7 miles; total, 245 miles; grand total, 993 miles The Gross
earnings, $78t,672in 1886, against $ ‘ 83,9o3 in )8»5; net. $232,
•eooud track owned and leased is 521 miles ; tldrd track 318 m i w 475, against $139,181. (V. 42, p. 60, 125,156 187 215 243, 339,463fourth track 299 miles; turnouts,5 9 0 i X ^ m S g a total of
604, 7z8, 7*2; V. 43, p. 163, ¿34, 459.)
N ew Y o r k City & N orth ern .-O w n s from 157th Street in 8th>
Avenue, New York City (connecting with Metropolitan Elevated), toBrewsters, N. Y., and blanch, 54 mués. This company was organized
reais
March 1, 1878, and acquired the N.Y. West. &Putuam (formerlythe*
to™?ea ■>? » ecreolMation N. Y. & Boston Railroad), sold in foreclosure March, 1876. The com Pany in May, 1880, leased the West Side & Yonkers road ior 999 years,a? d Í .e consolidated mortgage was issued to take up all the other bonds,
of which $264,000 under a prior mortgage were outstanding Nov. 1 ,
1884. Stock is $2,'*90,00u. Default was made in interest due May X, 1882,
and foreclosure is pending. Mr. Joel B. Erhardt, receiver. Gross gain
31& *” 4 *°«> S e i à © S t e ,
Kal1- ings in $ u 8 4 -5 , $413,5 *3; net, $36,154; deficit for year, $205,146—<V. 40, p. 182, 241, 337, 588; V. 41, p. 585.)
N ew Y o r k &. G reenw ood L a k e.—Owns from Jersey City, N, J.,,
to Greenwood Lake, 48 miles; branches — Ringwood Junction toRingwood, 2 miles; North Newark to Orange, N. J., 8 miles; total, 58*
miles. This was the Montclair Railroad, opened in 1874. It was sold
nd reorganized as Montclair & Greenwood Lake, and again soldi
t»f bankers by Mr. W H. VandertUt at theprice of -?20
shares sold afterwards. Dividends of 8 per cent Der sun’nm h i? 0» ^ 0 October 12, 1878, and the present company organized. The New York
paid since 1868, but in 1885 only 3 ^ p e r c e n r w L f , ^ f>aa beei? Lake Erie & Western purchased a controlling interest in the property
and now operate it. The holders of the second mortgage bonds have
stock since 1870 have been: In 1871, & f i u 0 8 & ■ £
I right to pay off the first mortgage bonds of $900,000 at 105, and thus
iu 1873. 7778®1<»6%; in 1874, 9 5 ^ ® 1 ^ 1 - ^ 1875
ain control of the property. The stock is $100,000; advances due to
a«76. 96@11712 ; in 1877.
in
the Erie and to Cooper & Hewitt $144,241. Gross earnings in 1884,
®139 ; in 1.-80,122®1,
In 1883. 111is® 1291«; i
$181,444; net, $5,670; gross in 1885, $188,474; net, $21,514; other
charges, $19,149. Abram 8. Hewitt, Fres’t (V. 40, p. 6 84.)
to Oct 23, 98%® i 14Sg.
N ew Y o rk & H a r le m .—Owns from New Tora cu y 10 Chatham
à
4® ™
* - * 0i 188i m“ ’ * ” e to0lUtol
“ V
- » « » « e N- Y., 127 miles, i rom Chatham to Albany, 24 miles; the Bost. & Alb.
RR. is used. TMs company owns tlie Fourth Ayonue street railroad
25,1879. The capital stock is $1,590,600. The property ’ «
§
120,000 on the Tom’s River RR. and $200,000 on the L<
O c t o b e r , 1886. J
K A IL K O A D
STOCKS
AND
BONDS.
67
Subscribers w ill confer a great favor by givin g im m ediate notice o f any error discovered in these T a bles._______
DESCRIPTION.
Miles Date ! Size, or
Amount
Par Outstanding
of
For explanation of column headings, &c., see notes of
Road. Bende. Value.
on first page of tables.
1,660
1,660
3 d mort., gold (extended 40 years at 4<2 p. ct)—
•4th mort., gold, (extended in 1880 at 5 per cent).
° do
—
#mort., coup.,gold (for $7,500,000)
....
do
do
“
funded coupon bonds.
IN. Y. L. E. & W. reorganization 1st lien b’ds, gold
....
do
fund.coup.bds (redeem, at 105 & int.)
•Collateral Tr. bonds, gold, red’ble at 110..............
Car trust bonds (only $600.000 are 6s)..................
M . F. ~<inN 7 E n q l a n d ($20,000.000 auth’rized)
*38
380
321
321
Hariem°& Portchester, 1st mortgage guaranteed,
do
do
2d M., coup, or reg., guar..
1st M„ gold, for $4,000,000 (redeemable at 110)..
257
123
12
12
421
421
INTEREST OR DIVIDENDS.
_
When Where Payable, and by
Whom.
Cent. Payable
$100 $77,223,100
,, A57 Vvi LAC
Yearly.
6
8,145,800
100
do
do
M. & N.
2,482,000
7
1,000
1847
do
do
M.
&
S.
2,149,000
1,000
5 g1879
do
do
4^g. M. & S.
4.618.000
1,000
1853
do
do
A.
&
O.
2.926.000
1,000
1857
5 gdo
do
J. & D.
7
709,500
1858 500 &c.
do
do
& J.
7
182,600
1861 100 &c.
do
do
J. & D.
7
3,000,000
1,000
1863
do
do
4,500,000 11 6 g, A. & O.
1,<j00
1885
York and London.
M. & S.
7
1,000 16.890,000
1870
do
do
3,705,977
7 g. M. & S.
1878 500 &c.
do
do
M.
&
N.
2,500,000
6
g.
1.000
1878
Coupon
of
June,’
86, off,
6 g- J. & D.
1878 500 &c. 33,597,400
Last
paid
Dec.
1883.
J.
&
D.
6
508,008
1878 300 &c.
J. & D.
4.032.000
1.000
1885
4.273.000
V 6 g. M. & N. New York & London.
1,000
1882
6 &5
5.612.000
2,000,000
N. Y., 119 Liberty St.
1,500.000
1882
19,017,000
....
Boston.
1,800,609
3ia
6 & 7 J. & J Bos., Safe Uep.&T’stCo,
1,0*00 10,000,000
1876
Boston.
4,382,000 3 & 6 P. & A
1882
1,000
Boston.
Various
4
1,646,532
1882
J. & J N.Y., Grand Ceu. Depot,
5
100 15,500,000
do
do
J. & D
4
2,000,000
1883 l,000&c
do
do
6 & 7 A. & 0
2,000,000
1,000
1873
do
do
J. & D
4
1,000,000
1,000
1881
58.113,982
New York
3,000,000
1,000
" 6 g . M.'&'S
1884
Stocks—Last
Dividenti.
Jan. 1 5 ,18 8 4
May 1, 1897
Sept. 1, 1919
Mar. 1, 1923
Oct. 1, 1920
June 1, 1888
July 1, 1891
June, 1893
Oct. 1, 1935
Sept. 1, 1920
Sept. 1, 1920
Dec. 1, 1908
Dec. 1, 1969
June 1, 1977
Dec. 1, iy6 9
Nov. 1, 1922
1886-1892
Nov. 1,1886
Jan., xy05
Aug. 1.1902
1886-92
July 1, 1886
June 1, 1903
1903
June 1,1911
Sept. 1, 1914
1884-85.
1881-82.
*1882-83.
1883 84.
'The property (except the horse railroad) was leased April 1,1873, ior |
99 nass. 9(9 mile
1*947 cts.
1*969 cts.
2*189 cts.
-•401 years, to the N. Y. Central & Hudson Ri\ er RR. at 8 per cent divi- Rate
Freignt
(tons)
moved
11,895,238
13,610.623
16,219,598
_
14,0;
idends on the stock and the interest on the bonds. The Fourth ave. horse
railroad was retained, and extra dividends are paid out of its receipts Freight (tons) mil’ge 1954389710 2306946892 249888897b 2381/78927
0*7»0cts0*685 cts.
..........
.annually in April. All operations of the main road are included with Av.rate $ ton $ mile 0*749 cts.
those of the N. Y. Central & Hudson.
N ew York. L a ck a w a n n a Sc, W e ste rn .—(See Map o f Del. Lactc. Passenger.?” ............
4,384?510 4,632,229
4,675,872
3,936*793
West.)—From Binghamton to Buffalo and International Bridge aud F r e ig h t.!................. 14,642,128 17,213,621 15,773,004 13,813,249
branches, 214 miles; ouilt under the auspices of Del. Lack. & Western. Mail,expr’s,rents,&c.
949,136
956,3t>6 1,188,559
1,134,530
■Opened Oct., 1882, and leased to Del Lack. & West, for 99 years, with
a. guaranty of the bonds and 5 per cent yeari1'o n the stock. The lat.er
Total gross earn’gs. 19,975,774 22,802,246 21,637,435 18,934,572.guaranty ib written across tne face of thP certificates and signed by the D.
L. & W. officials. Sept. 30.1884. owed D. L. & W. for advances $420,143
N ew Y o r k L a k e Brio Sc W e ste rn .—Line of R oad .—Sufferns
1,995,368 2,720,174 2,602,368
2,369,045
N Y., to Dunkirk, N. Y., 430 miles: branches—Piermont. 18 miles; New4>urg. 18 miles; Buffalo. 60 miles: Erie International RR.. 5 miles; Maintenance of cars.
1,247,324
1,305,864
1,009,662 1,299,986
Rutherford to Ridgewood, 11 miles; leased—Montgomery & Erie RR., Motive p ow er..........
3,639,506
4,44 <,908 4.749,570 4,158,186
10 miles; Goshen & Deckertown, 12 miles; Newburg & New York, Transp. expenses...
7,059,155
5,964,475
5,832,979 6,421,979
13 miles; Paterson Newark. &N. Y., 11 miles; Hawley & Honesdale, 24 General expenses...
699,660
549,946
610,578
558,536
•miles; Jefferson RR., 37 miles; Buf. Brad. & Pittsburg and extension, 78
aniles; Buff. N. Y. & Erie, 140 miles; Suspension Bridge & Erie Junction,
Total .................. 13,088,093 15,444,583 16,358.077 14,347,51«
223 miles; Rochester & Genessee Valley, 18 miles; Avon Gen. & Mount
6,887,681
7,357,663
5,279.358 4,587J)56
Morris, 17 miles; Pat.& Hud., 15 miles; Pat. & Ram., 15 miles; Lockport Net earnings............
65*50
64*78
o9*52
69*79
-& Buf., 13 m iles; Buf. & Southw., 68 miles: controlled—Newark & Hud., P. o. op. exp.to earn’s
«6 miles; Weehawken N.Y. & Ft. Lee. 5 miles; Northern of N. J., 25 miles;
The statement of profit and loss inc1'’ '- ->umerous items, and refer
l i . y . Penn. & Ohio and branches, 547 miles; total operated, 1,622 miles ence should be made to the table in V. 41, p. 65 .’, of which the totals are
On May 1,1883, began to operate the New York Pennsylvania & Ohio as follows for the flscalyears ending Sept. 30,1882,188J 1884 and 1885.
under lease, and on May 14,1883, the Chicago & Atlantic road was
1882.
1883,
1884.
1885.
«opened from Marion, Ohio (on the New York Pennsylvania & Ohio), to
$5,589,748
Cnicago, 268 miles, aud under control of N. Y. Lake Erie & West, gave a Total incom e... $7,66',335 $8,234,463 $6,35b,983
Total
debits___
6,501,693
6,968,978
7,055,606
6.966,691
■complete line from New York to Chicago; but in 1885, owing to dissen
«ions, this was broken.
„ „ ,
. ,
.
O rganization . L eases, &c.—The New York & Erie RR. was chartered Surp. or deficit.. $1,166,642
$1,265,485 *def.$698,622 d f.$ l,376,943
April 24,1832, and the State of New York loaned the company $3,000,•«00; the road was opened to Dunkirk April 22, 1851. The company
* This allows for full interest on 2d consols, though only two months’
was reorganized under the name of Erie Railway Co. June 25, 1801.
“This Erie Railway was sold in foreclosure under the second consolidated intertst was actually paid in 1883-64 and nune in 1684-85.
mortgage in 1878. The present company was organized and took
possession June 1,1878. The Long Dock Co. lias stock of $800,000, all
41, p. 23, 50, 95, 161, 189, 190, 215, 273. 407, 420, 446, 495, 585,
•owned by the N. Y. L. E. & W.; its property consists of lands and lands —(V.
599, 6 0 9 , 612, 613, 625, 6 5 2 . 665; V. 42, p. 60, 93, 187, 207, 243, 264
under water, about 577 acres, with piers, buildings, &o.
27Z,
304,
431, 463, 549, 604, 694; V. 43, p. 23,132,191, 245, 399.)
Stock and Bonds.—Preferred stock has a prior right to 6 per cent
rfnon-cumulative' from the net profits, “ as declared by the board of di
vectors,” and in Jan., 1883, it was decided by the U. S. Circuit Court that
N ew Y o r k Sc L o n g B r a n c h . —The following-named companies
when sufficient earnings were shown the dividend must be paid.
consolidated on December 21, 1881: New Yo**k & Long Branch
Prices of com. and pref. stock since June, 1878, have bee l as follows: were from
Perth Amboy to Long Branch, 23 miles; New Egypt & Far•Com.—In 1878, 7^s'S>221^; in 1879, 2 i 18®49; in 1880, S O a S l^ ; in 1881, RR.,
mingdale
RR., from Long Branch to Ocean Beach, 7 ; Long Branch <te
•S9%®527r ; In 1882,33f4®43\; in 1883. 2t>78@4078: in 1884, ll*8®28j%; Sea Girt RR.,
from Ocean Beach to Sea Girt, 3; New York & Long
in 18-5, yi4®2 78; in 1886, to Oct 23,22 h ® 37nj. Pref.—to 187>i, Branch Extension
from Sea Gi rt to Point Pleasant, 3 ; Long
3 in j® 3 8 ; in 1879, 37*2® 781« ; m 188o, 47®93is; m 1881, 80ig@9bia; Branch A Barnegat RR.,
Bay RR., from P oin t Pleasant to Bay Head, 1 ;
±u 1882,67®&8i4; in 1883,72 ®83; in 1884, 20®71; in 1 885,18®57; in total
length, 38 miles. The Central RR. of New Jersey holds a ma1886 to Oct. 2a, 5» *2081.
tlie stock, and by contract of Jan. 3,1882,
The 1st consol, funded coupon bonds are secured by lien of consoii- jority of of
N. J. agree to pay 32 p. ct. of gross traffic—$206,000 per yea*
«dated mortgage. On the second consolidated mortgage coupons no iore- Central
as
a
minimum
$240,000 as a maximum. WlicntliePliila.<fe Read, leased
« 1« sure can take p'-.ce rill six successive coupons are in default, the Central of to
N. J., litigation was begun to deprive the Penn. RR. o f
but all oi one coupon must be paid before any part of a subsequent
further
use
of
this
route, but a compromise was made.
■coupon is paid. In 1882 the reorganization first lien bonds dated 1878
were issued, and they rank next to the 1st consol, mort. and its funded
•coups, to 1883 the coilat’l trust bonds were issued (the U. 8. Trust
N ew Y o r k Sc N ew E n g la n d .—The mileage owned is as fo l
•Co trustee; see V. 38, p. 509), and redeemable at 110 on threemonths lows:
to Hopewell Junction, 215 miles; Wicopee to Newburg, 3
notice ; about $730,000 were so redecmed-Nov., 1885. The 2d consol, miles *Boston
Providence to Willimantic, 58 miles j brandies Newton, Mass.,
funded coupon bonds of 1885 were issued to fund three past ffue to Woonsocket,
I., 28 miles; East Thompson, Conn., to Southcoupons and the coupon of June. 1»86, and the coups, are deposited as bridge Mass., 17R.
Elmwood to Dedham, Mass., 1*2 miles; Charles
security. These bonds are redeemable at any time at 105 and accrued Riv to’ Ridge Hill,miles;
Mass., 2 miles; other branches, 1 miles; total owned
_
£■
. ..
interest.
O perations, F inances, &c.—The company since its reorganization 326 miles. Leased—Franklin to Valley Falls, 14 miles; Vernon to Rock
in 1878 has become a standard gauge system. The income account f 91 ville 4 miles; Springfield toE . Hartford, Ac., 34 miles; Norwich & Wor
RR., 66 miles; total leased, 119 miles; also has running arrange
¡several years showed a considerable surplus over fixed charges, but m cester
188J-84 the income fell off largely, and there was a deficit below the ments over 26 miles more. Total, 471 miles. Controls Norwich & N. Y .
line.
1 „ . ^
„
,
,
.
.
interest requirements, and three coupons, June, 1884, to June, 1885, Steamer
The former Boston H artford* Erie Railroad became insolvent and was
o n the 2d consol bonds, were passed. In Nov., 1885, it was announced succeeded
by this company, formed in 1873. In 1878-79 the company
that the company nad negotiated a loan for $7,000,000 new bonds acquired the
Hartford Prov. & Fishkill RR. Since the completion o f
o n the Long Dock property (including $3,oo0,000 to pay old bonds), and the line to Fishkill
on the Hudson in 1883, the through traffic rates
the coupon of Dec. 1. Ib85, would be paid if holders funded the three
have
been
demoralized,
and the N. Y. & New England has not ye t
coupons overdue, and that to fall due June 1, 1886. See V. 41, p. 08<0.
realized
the
full
benefit
of that extension.
. .
„
Some of the holders of car trust bonds have relinquished their right
On
January
1,
1884,
Mr.
C. P. Clark, the President, was appointed the
t o annual drawings of principal, and 90 per cent of the holders agreed receiver, and so remained till
Jan. 1. 1886, when the road was returneu.
to reduce their interest to 5 per cent.
_'
' __
.
__
For the car trust bonds 2d mortg. bonds were issued,
For eleven mouths from Oct. 1 to Aug. 31 in 1885-6 earnings were to its owners.
3 per cent to Feb. 1890, 5 per cent to Feb 1892 and 6 for bal
*20,260.170, against $ 7 098,907; net »5,782,121, against $4,r 09,605. bearing
ance
of
term
;
the
rolling stock was so.d and bought to by the receiverste
F o r tne nine months enuL.g June 30 the surplus over fixed charges Sept., 1885. See V.
41, p. 357. It was voted in Sept., 1385, to o ^ r
was $ 17,064 in 1**66, against deficit ot $ i,v58,5l2 in 1885.
$.,000,000
of
7
per
cent cumulative preferred stock at pa< and tma
The annual report for year ending 8ept. 30, 1885, published m the stock, taken by stockholders,
by creditors and others, cleared off the
C hkonicle, V. 41, p. 609 and 652. had the follow ing:
OPERATIONS AND FISCAL RESULTS.
J M 'i
fl Gr“ f earnings for eleven months from Oct. 1.1885, ^ Aug. 31,1886,
Operations—
18» 1-82.
*1882-83.
1883-84.
1884-85.
Passengers carried..
6,784,195
6,934,724 6,734,0*5
7,209.054 $3,477,915, against $2,937,334 in 1884-85, net, $1,24-,81b, againai,
Passenger mi leage .. 225,130.883 247,147,117 235,105,058 250,635^115 *
of the Norwich & Worcester road are kept separate.
* In 1883-*4 and since the N. Y. Pa. & Ohio statistics are included,
w * 30>1885>111 v - 41*p- 686< 0pe*but in 1882-3 they wei e included for live months only. Figures of traffic
ations. Ac., for three years past were;
•do not include coal and supplies for the use of the wo companies.
6 8
INVESTOKS’
SUPPLEMENT.
[V ol . X L I I L
Subscribers w ill confer a great favoi by g iv in g Im m ediate notice o f a n y error discovered In Oiese Tables.
DESCRIPTION.
INTEREST OR DIVIDENDS.
[Bonds—Princi
Date Size, or
Lon va ovAuinn uomunKO)
Amount
Due.
of
of
Par
Rate per When Where Payable, and by pal,When
on first page of tables.
Stocks—Last
Road. Bonds Value. Outstanding
Cent. Payable
Whom.
Dividend.
1st mort., gold (no foreclosure till 1895,) $ & a
2d mortgage, incomes, $ & ,£................................. .
3d mortgage, incomes, $ & £ ............................
Income mortgage, non cumulative. ...............
N. Y. Prov. A Boston—(Stonington)—Stock...
First mortgage..................................................
1st mortgage (Stonington to New London)..
N Y.Susqueh.A Western—1st mort., Midland oi
1st mort., gold (2d on 73 miles).....................
Mortgage, gold, on Paterson Extension___
Debenture bonds.............................................
Scrip for coupons (redeemable at option ). . .
Gar trust certificates................................................
N. Y. Tex.AMex.—1st M.. gold, 1. g. (for $8,000,000)
N. Y. Woodhaven A Bockaway—1st mortgage, coup .
Income bonds, non-cumulative, reg.............. .
Car trusts, secured by 1st mortgage bonds. -.
Niagara Bridge A C anandaigua-S tock............
Norfolk Southern—1st mortgage, gold...............
2d mortgage, income (not cumulative)............
2d mortgage debenture......................................
Funded int. bonds ($270,000 secured by coupons)
Norfolk A Western.—Common stock..........................
Preferred (6 per cent) stock.....................................
General mortgag, gold (for $11,000,000).............
1st M., gold, on New Riv. div, (coup, or reg.).........
Improv. & Ext. mort., gold, ($8,000,000 author’d)
Adjustment mort., gold (red’ble after ’94 at 110).
427
460
460
460
....
....
82
50
12
73
61
....
....
....
....
Ï6
....
....
100
75
75
....
....
510
510
428
80
510
510
1880 $500&c. $8,000.000
1880 500 &c. 44,093,000
1880 500 &e. 14,500,000
1880 500 &c. 30,000,000
__
1883
1,848,000
1883
1,000.000
100
3,000,000
1869
1,000
1,000.000
1,000
1881
300,000
1880 500 &e.
3,500,000
1,000
1881
2,500,000
1881
1,000
250,000
1882
500
600,000
1885
....
93,000
....
....
831,420
1882
500
3,000,000
1882
1,000
600,000
1885
1,000,000
....
....
180,213
100
1,000,000
1880
1,000
900,000
1881
1,000
1,000,000
1881
1,000
250,000
’80-’82
300
345,OOÓ
100
6,884,700
....
100 18,000,000
1881
1,000
6.699,000
1882
1.000
2,000.000
1883
1,000
2,900,000
1884
1,000
1,500,000
Av.
Passenger
Freight (ton)
Years.
Miles.
Mileage.
Mileage.
Earnings. Earnings.
188182.380
55,853,672 103,668,653 $3,268,810 $909,194
188283. 384 53,815,074 153,213,910
3,571,858
385,480
188384. 382 54,299,316 138,534,292
3,362,032
420,406
188485. 382 58,818,387 107,639.953
3,288,946 1,081,366
—(V. 41, p. 24, 50, 76,102,134, 242, 273, 331, 357, 392, 420, 463. 495”
527, 5 5 5 , 556, 585, 612, 654, 6 8 6 , 722. 745; V. 42, n. 60, 61,156. 187!
243, 804, 393, 431, 463, 487, 575, 596, 691; V. 43, p. 23, 103, 132, 162.
274,399,459.)
’
’
N ew Fork. N ew H a v e n & H a r tfo rd .—Owns from Harlem JuncN. Y., to Springfield, Mass.. 123 miles; branches to New Britain, Middle,
town andSuffleld, 18 miles, leased—Harlem & Portchester RR., 12 miles'
Shore Line RR., 50 miles ; Boston & New York Air Line and branch, 54
miles ; Stamford & New Canaan Road, 8 miles—total operated, 263
miles. This was a consolidation July 24, 1872, of the New York & New
Haven and the Hartford & New Haven railroads. The company uses
the N. Y. & Har. RR. from Williams bridge into N. Y. City and pays a
large rent therefor. The company leases the Harlem River & Portchester Railroad, and guarantees the bonds. In November, 1882, the
lease of the N. Y. & Boston Air Line for 99 years at 4 per cent per an
num on the preferred stock was made. In Sept., 1882, the stock of the
Hart. & Conn. Val. road was purchased. In April, 1881, a controlling in
terest was bought in the N. Haven & Northampton RR. stock by parties
In the interest of this company. In 1883 the mortgage for $5.000.000 at
4 per cent was authorized, to be issued as required in m airing improve
ments on the main line.
* Fiscal year ends September 30. Annual report was in V. 42, p. 59.
For the year ending Sept. 30, 1885, the total income was $6,895,824
against $6,887,258 in 1884; net earnings, $2,446,536, against $2,232,-
6 g - M. & S. London and New York,
J. & J.
do
do
M. & N.
do
do
M. & N.
do
do
J. & J.
l g.
g>
5
5
6
6
2
7
4
6
6
6
6
6
6
6g.
I e-
6
3
l g>
6
6
6
6
6
7
Q.—F.
J. & J.
A. <fc O.
A. & O.
J. & J.
I. & D.
F. & A.
Quar.
A. & O.
J. & J.
N. Y., Central Trust Co
do
do
do
do
N. Y., Nat. Park Bank.
Paid cash, ^ scrip.
Paid
cash, ^ scrip.
N. Y ., So. Pac. Co.
Treasurer’s Office.
F. & A.
A. & O. N. Y., Cent. RR. Office.
M. & S. Int.fund. from Sep. 1,’84
Yearly.
A. & O. Int.fund. from Sep.1,’ 84
Various
March 1,1895
July 1, 1905
May 1, 1910
May, 1915
Jan. 1,1923
Oct. 1,1933
Aug. 10,1886
July 1, 1899
A p r ili, 1901
April 1, 1910
July 1, 1911
1911
Aug. 1, 1897
1895
1887-1893
Oct. 1, 1912
Jan. 1, 1902
Jan. 1, 1912
Aug. 1,1890
April 1, 1886
Sept. 1, 1920
Jan. 1, 1970
Oct. 1, 1921
1920 & 1921
Q.—Mob
a n .15,1884
g. M. & N. N. Y. and Philadelphia, J
May 1, 1931
g. A. & O.
do
do
A p r ili, 1932
g- F. & A.
do
do
Feb. 1, 1934
g. Q.—M. New York and Phila. Deo. 1, 1924
542, 742; V. 41, p776,’ 105^ 161, 4*73?) t0
®239’820’
(V -40, p. 28
D(fie to ( X o h ^
17
a? 6, r a,
1v»® 1^ 1* , * N o rfo lk .-O p e ra te s from Delmar,
95 miles, and King’s Creek, Md.. to Crisflcio
Successor of the Peninsula RR. Co. of Va ’
2*% 1» l 884, purchased the Eastern Shore (Md.) RR., Delmar to Oris
field 38 miles Capital stock, $1,714,375. There is also a 6 per emit
$L23 526- T m S^ o f9? | 22-5 V°00 ? U6
G ^ ss earnings ?n i s l l ,
* o io ? 7 o ’ nei» $00,236; interest on bonds, $55,920. Gross in 1885
I h fia d S k fa ’ $ 8’5 0 0 1 lnt0r68t’ * 120’007- £ J* Cassatt President;
r
Y o r k P r o v id c n c o & B o s t o n .—Owns from Providence R
i\’ to Groton, Conn., 62 miles; Warwick RR., 10 miles; Pontiac branch'
^ m i l e s ; operates also Pawtuxet branch roads, 5 ^ Liles; t o t a l o S
l i ; p . « o . r 188‘ -3 5 : "•*
Y o r k Susquehanna & W estern.-Jersey City to Grave
Place, 101 miles; Two Bridges, N. J., to Unionville, N. Y., 21 miles-other
S u r l “ 1 ? leased—Unionville,- N. Y .,to Middletown. N Y ? 14
P e m - BE- ,r“ taS8' 2 mUe8i
B i.il
v ^ e/ e w Jersey Midland was built as a connecting line of the New
9 sweg0 ^ d la n d , and went into receiver’s Lands March foT
1875, and was sold in foreclosure Feb. 21.1880, and the Midland oi
New Jersey was organized. The New York Susquehanna & Western was
a consolidation in June, 1881, of the Midland oi New Jersey, the Pater
son Extension, the North Jersey, the Pennsylvania Midland and the Mid
land Connecting railroads. Stock, common, $13,000,000; preferred
cumulative 6 per cent), $8.000,000. The amounts of stock were reduced
*20,000.000 com. and $10,000,000 pref. The New Jersey
Midland junior securities were exchangeable into stock of this companv
on certain terms, and the exchanges up to Jan. 1,1886, left $2,647,i d i or trio old stock, income bonds and scrip not yet exchanged
July, 1885, and Jan. and July, 1886, the holders of N.
Y.8US. & W. mortg. bonds and debentures were asked to fund in serin
one-half of the coupons then due, the other half being paid in cash
See report m Chronicle , V. 42, p. 573.
°
eight months from Jan. 1 to Aug. 31, gross earnings were $696 475 in 1886, against $698.165 in 1885; net, $§90,616, S a t o f$ 3 1 7 ,3 8 8 '
Income account has been as follow s:
For quarter ending June 30. gross earnings were $1,859,826 in*
1886, against $1,664,362 in 1885; |net, $668,171, against $657,984surplus over charges, $463,224, against $453,037. (V. 41. n. 162 586’
V. 42, p. 59, 243, 575; V. 43, p. 163.)
’
N ew Y o r k O ntario & W e ste rn .—Owns from Oswego, N Y to
Cornwall, N. Y., 273 miles; branches to New Berlin, 22 miles; to Deihi
17 miles; to Ellen ville, 8 miles ; total owned, 320 miles. By contract
has right over West Shore RR. from Cornwall to Weehawken, 52 miles •
total operated, 372 miles.
’
In May, 1886, made an agreement with the D. & H. Canal Co. for
operation of the Utica Clinton <feBinghamton and the Rome & Clinton
Railroads for 30 years on a percentage basis.
This was the New York & Oswego Midland. Main line was opened
July, 1871. Default was made in 1873. The main line was sold in fore
INCOME ACCOUNT.
closure November 14, 1879. The present company was organized
1883.
1884.
1885.
January 22, 1880. From assessments about $10,000,000 was realized Gross earnings................................. $1.038,656 $1,034,208 $1,092,355
$400,065
Of the $4,0u0,000 of 6 per cent first mortgage bonds $2,000,000 were Net earnings....................................
$416,521
$474,835
Disbursements—
used to retire the preferred stock, of which all but $210,000 was retired
by March, 1886. By agreement with the new West Shore Co. in Januarv Interest on bonds................. $382.500
$411,000 *$322,095
.........
1886, the N. Y. O. & W. took title to the road, Middleton to Cornwall’ Rental M. U. & W. G. R ailroad...
25,000
25,000
___ “
and a right to run its trains over the West Shore from Cornwall to Wee Car trust obligations for y e a r....
83.192
Ì92.352
hawken by payment of a fixed sum per mile for trackage, and was also
Total disbursements..... $382,500
$519,192
$439,447
discharged from all liability under the former lease and on the terminal Balatme............................sur.$17,565 u.L.^i.u^,o/i. sur.^oo,
df. $102,671 sur.$35,388
bonds.
. Half interest only paid on N. Y. Sus. & W. firsts and debentures,
For the quarter ending June 30, gross earnings were $332.256 in
t u a^iiras^s i o
$117 552, of which $25,200 was deterred.
1886, against $451,256 in 1885 ; net, $59,410, against $43,037 in 1885 • —(7,
41, p. 473, 586; V. 42, p. 22, 61, 215, 5 7 3 ; Y. 43, p. 335, 368.)
surplus in 1886 $32,269, against deficit of $44,964.
’
Y o r k T e ™ * & M e c c a n . - L i n e projected from Rosenburg
In the year ending Sept. 30,1885, gross earnings were $1,882,134 •
net, $229,374. See annual report in V. 42, p. 123. (V. 41 p 216 242’ v iiu f 1-011’ Texas, to Brownsville, 350 miles. Completed Rosenberg to
273, 603, 722; V. 42, p. 93, 1 2 3 , 125, 272, 304, 387, 394, 664.) ’
of land,
it»is a’u
A ^in^
?'n.f^
0rtgage+$2?
’-850 is
-pe^
mile’ acres
covering
of
being
half
of the
grant, which
10,240
per5,120
mile, aores
if it
N ew F o r k P e n n sy lv a n ia & O lilo .—Owns from Salamanca can be ODtamed. Stock, $814,800. In September, 1885, sold to So.,
N. Y., to Dayton, O., 388 miles; branches—to Oil City, 34 miles- to
Silver Creek, O., 2 miles; total owned, 424 miles. Leased lines— V 6421,'£ 0243 f Y. 4 3 ^ 1 3 3 7l 63 )8° ‘ PaoWo* <V* 41* P* 273, 446,745*
Cleve.& Mahon. RR.,81 m.; Niles & New Lisbon RR., 36 m.; other small
N ew Y o r k W o o d h a v e n & B o c k a w a y .—Owns from Glendale
branches, 32 m.; total operated, 573 miles. Changed to standard gau«-e
a^ y JB1e90llti10^ “ iles; leased—Glendale Junction to
June, 1880. Formerly Atlantic & Great Western Railway. Sold Julv t
Long Island City, 6 ^ m iles; Fresh Pond to Bushwiok, 2 La m iles: Wood1, 1871, and leased to Erie on May 1,1874, but lease not carried out haven to Brooklyn, 6*2 miles; total operated, 2614 miles
The
Again sold Jan. 6, 1880, and reorganized by a London committee stock is $1,000.000. A readjustment of the finances took place in
of stock and bond holders. (See V. 30, p. 143.)
1882, and the new $600,000 first mortgage was issued and the^LOOO,Five trustees exercise the voting power of the new stock until the third 22? mcomes were issued for the old mortgage bonds. These incomes
mort, bondholders receive 7 per cent interest in cash during three years are convertible mto preferred stock until 1892. In 1884-5 gross earn
The first mortgage bonds bear 7 per cent, whatever portion of this that ings were $153,244.: net, $77,707; rentals, $ 4 3 ,1 0 3 ;b a la ^ e ,n e tin may not be earned to be payable in deferred warrants, to be capitalized come, $34,603, against $28,883 in 1884. In September, 1886, went
in bonds of the same class ; payment of interest to become absolute not under Corbin management. (V. 41, p. 720; V. 43, p. 217, 245, 335.)
later than July 1,1895, and until July 1,1895, the right to foreclose
N iagara B rid ge <fc C an an daigu a.—Owns from Canandaigua to
the mortgage is suspended. On the second and third mortgages there
is no right to sue the company or to foreclose. The stock is—preferred Suspension Bridge, N. Y., and branch, 100 miles. The road is leased in
PerP6
i u? J J? the New York Central & Hudson at $60,000 per ankum!
$10,000,000; common, $34,999,350. The deferred warrants, Sept 30
1885, were $2,076,665. Bonds above are also secured on leasehold with right of lessee to commute by payment of a gross sum of $1,000,000.
estates. %
NorfoUc Sontkernj-Formeriy the Elizabeth City & Norfolk. Name
From May 1,1883, leased to N. Y. Lake Erie & Western. The rental changed Feb. 1,1883. Owns from Norfolk, Va.. to Edenton N C 73
Will be 32 per cent of all gross earnings up to $6,000,000, and 50 per miles. Capital stock, $1,000,000. The holders of 1st mort. and debencent : of all gross earnings above $6,000,000, or until the gross earnim's ture bonds funded their mterest for five years, Sept, and O c t, 1884, to
are $7,2oO,000, and then 35 per eent of all earnings. But if 32 per cent March and April, 1889, respectively. Gross earnings in 1885, $206,o f the gross earnings should ever be less than a specified minimum sum 310; net, $71,165; surplus over all payments, $6,953.
v
’
o f $1,757,055 to be paid yearly, then the deficit is to be made up without
N orfolk & W e ste rn . —rSee M ap.)—Owns from Norfolk, Va., to Pe
interest.out of the excess in any subsequent year. Out of the rental paid, tersburg,
Va.,
81
miles;
Peterab::!-Va..
to
Lynchburg,
Va.
123
miles,
the N.Ÿ. P. & O. has to pay its int. and rentals, and for two and a half Lynchburg, Va., to Bristol, 204 miles; branches—Petersb’g to City Point.
years a payment of $260,346 a year to the car trust.
Va., 10 miles; Junction to Saltville, Va., 10 miles; New River Division,
BONDS.
STOCKS A N D
R A ILR O A D
1886.J
OOTOBEB,
70
IN V E S T O K S ’
SU PPLEM EN T.
fV o u XLIII,
Subscribers w ill confer a great favor by g iv in g im m ediate notice o f any error discovered in these Tables
DESCRIPTION.
Bonds—Princi
INTEREST OR DIVIDENDS.
Miles Date Size, or
pal, When Due.
Amount Rate per
For explanation of column headings, &c., see notes of
Par Outstanding
of
When Where Payable, and by Stocks—Last
on first page of tables.
Road. Bonds Value.
Cent. Payable
Whom.
Dividend.
Norfolk & Western—(Continued)—Car trust
Vat’s $ ....
$1,093,582
M'nthly
New York & Phila.
Various.
Convertible debent’res (red’ble on 30 days’ notice)
500
1884
525.000
*6’
J. & J. Philadelphia Office.
Jan. 15, 1894
Norfolk & Petersburg—2d m ort...
1,000
496.000
*81 1868
8
J. & J. N. Y. and Philadelphia, July 1, 1893
South Side—1st pref. consol, mort. (6s, ext.in ’85) 133 1866
1,000
603.000 5, 6 & 8 J. & J.
do
' do
18 86 to 1900
do
2d
do
guar. Petersb’rg 133 1866 200 &c.
488,300
5 & 6 J. & J.
do
do
1900
do
3d
do
133 1866 200 &c.
452,800
6
J. & J.
do
do
Jan.l,’96-1900
Virginia & Tenn.—Enlarged mort. (extend’d in ’84) 214 1854
1,000
990.000
5
I. & J.
do
do
July
1, 1900
1,000
„
do
do
4th mortgage.....................
214 1865
1,000,000
8
J. & J.
do
do
Meh. 1, 1900
Norm Carolina—Stock, com m on...
100
223
3.000.
000 3
M. & S. Company Shops, N. C. Sept. 10,1886
Preferred stock...............
100
223
1.000.
000 3
M. & S.
do
do
Sept. 10,1886
Mortgage bonds..................
500
223 ’ 67-"’68
210.000
8
M. & N.
do
do
Nov., 1888
North Pacific Coast—1st and 2d mortgages.............
76 1881
1,100,000
6
M. & N.
Nov. 1, 1901
1st mort. North Pacific Coast Extension C o . . . . . . .
150.000
J. & J.
Jan. 2. 1880
'*50
North Pennsylvania- -Stock, guar.................... .
4,399,750
88
"2 "
Q .-F .
Philadelphia Office,
Aug. 25,1886
2d mortgage...........................................................
500 &e.
56
1.500.000
7
M. & N.
do
do
May 1, 1896
General mortgage bonds..........................................
4,169,500
7
J. & J.
do
do
1903
Bonds secured by $1,200,000 stock......................
1881
1.200.000
3
M. & S.
do
do
Sept. 1, 1905
Northeastern (S. 0.)—Stock..........................
''K o
140
899,350
6
In 1884-5
1st mortgage.................................................
500
102 1869
820.000
8
M. & S.
Charleston, Office,
Sept. 1, 1899
2d m ortgage.....................................
500
102 1869
322.000
M. & S.
8
do
do
Sept. 1, 1899
1,000
Consol, mort., gold (for $1,836,000).....................
1883
694.000
6 g- J. & J. N.Y., Jesup.Paton &Co. Jan. 1, 1933
1,000
Northern (G al.)—1st mortgage ($6,300,000), gold.. 149 1877
3.964.000
T. & J.
Central Pacific RR.
Jan. 1,1907
1,000
San Pablo & Tulare—1st mort. ($3,750,000)........
47 1878
1.023.000
A. & O.
do
do
April 1,1908
Northern, N. H.—Stock.......................
100
83
3,068,400
J. & D. Bost.,Conc’d or Leban’n June 1, 18863
Northern Central—Stock.............
50
323
6.500.000
4
J. & J. Baltimore & Philadel. July 15,1886
ls t’ mortgage, State (Maryland) loan...................... 138
1.500.000
6
Q.—J.
Annapolis.
Irreaeemable.
2d mortgage, coupon........................
138 1865 50Ö&C.
1.126.000
A. & 0. Baltimore & Philadel. April 1, 1900
1,000
Consolidated mortgage, gold, coupon.................... 138 1868
2.599.000
i ' J. & J.
Baltimore.
July 1, 1900
1,000
i Consolidated mortgage, gold, registered............... 138 1868
205.000
A. & O.
do
July 1, 1900
Consol, general mort., gold, s. f., coup., £ or $ ___ 138 1874-5 1,000
2.438.000
l l : J. & J. London & Baltimore. July 1, 1904
1876-7 1,000
do
do
gold, coup. $ .....................
2,000,000
J. & J.
Baltimore.
July 1, 1904
1,000
1885
do
do
do
do.......................
1.220.000
do
mA. & O.
April 1, 1925
75 miles; coalmine branches, 7 miles. Total operated Deo. 31,1885,
510 miles. Under construction, Cripple Creek Branch, 50 miles.
.The Atlantic Mississippi & Ohio RR. Co. was a consolidation of Nor
folk & Petersburg, South Side and the Virginia <feTennessee roads, in all
of which the State of Virginia had an interest for loans made to them.
Default on the Atlantic Mississippi & Ohio consolidated Bonds was made
October 1,1873, and the road was sold in foreclosure Feb. 10, 1881,
and was reorganized as the Norfolk & Western. Of the general mort
gage, enough is reserved to take up prior liens. The dividends on
preferred stock were suspended in 1883 to pay off floating debt.
In January, 1884, the convertible debenture bonds were issued for taking
np the scrip of some $525,000 issued for dividend on pref. stock. In
Oct., 1884, the adjustment mortgage for $1,500,000 was issued to fund
floating debt, and is redeemable after 1894 at 110. The annual report
for 1885, in V. 42, p. 5 16, had the follow ing:
The remarks of Mr. F. J. Kimball, the President, contain the following
as to the operations of 1885: “ The volume of through traffic was
greater in both passengers and freight than in 1884, but the earnings
therefrom were lower than in any other year of your company’s opera
tions, being $107,008 less than in 1884 and $309,684 less than in 1883.
The long-continued commercial depression, the prostration of industries
throughout the country and the very low competitive rates at which
this class of traffic was transported, are the well understood causes of
this decrease of earnings. The effect produced by these causes upon the
local traffic wa augmented by the failure in April, 1885, of several of
the most important banks at Norfolk.” * * * «The local traffic,
excluding coal and coke, amounted to 410,000 tons, a decrease of 41,282
tons, or 9 per cent, as compared with similar traffic of the preceding
year.” * * * “ Owing, however, to the large increase in the coal
traffic, the aggregate local freight traffic increased 296,838 tons, or 45
per cent, and the earnings therefrom increased $218,086, or 18 per
cent.”
Gross earnings for eight months from Jan. 1,1886, were $1,993,074,
against $1,697,701; net, $782,128, against $621,175.
The earnings and expenses for four years w ere:
1882.
1883.
1884.
1885.
Miles ow’d & oper’d.
428
503
503
510
Operations—
263,347
Passengers carried..
307,927
412,452
388,087
Passenger mileage.. 14,915,267 16,285,288 19,213,251 19,151,534
Rate per pass. perm. 3*858 cts.
3-815 cts.
3-362 cts.
3 027 cts.
Freight (tons) moved
609,727
797,255
892,512
1,199,790
Freight (tons)mil’ge 133,957,973 155,521,709 171,773,275 295,7881872
Rate per ton per m .. 1-384 cts,
1-409 cts.
1-202 cts.
0*741 cts
Earnings—
$
$
$
$
Passenger.................
442,301
485,805
521,192
458,445
Freight......................
1,842,383
2,181,711
2,025,087
2,138,120
Mail, express, & c. . . .
145,055
145,260
164,875
174,555
Total gross eam ’s.
Operating expenses.
2,429,740
1,322,576
2,812,776
1,509,574
2,711,154
1,516,858
2,771.120
1,649,219
Net earnings............
P.c. of op. ex. to earn
1,107,164
54-4
1,303,202
53-7
1,194,296
55-9
1,121,829
60-0
Receipts—
Net earnings.............
Other receipts...........
1882.
$
1,107,163
63,389
1883.
$
1,303,202
............
1884.
$
1,194,296
1885.
$
1,121,829
Total incom e,. ___
Disbursements—
Interest.......................
Dividends...................
Miscellaneous...........
1,170,552
$
729,359
600,000
1,303,202
$
810,792
525,000
1,194,296
$
953,436
1,121,829
$
1,139,991
Total disbursem’ts.
1,329,359
1,335,792
953,436
1,195,690
INCOME ACCOUNT.
a n ° ^ ea^ ern (S. C .)—Owns from Charleston, S. C., to Florence
B. C., 102 miles. Leased jointly, Lane, S. C., to Sumter, S. C., 38 miles
lota l operated, 140 miles. This coihpany has earned the interest on its
bonds, with a good surplus. In Nov., 18,82, the above consol, mortgage
was authorized, of which $1,142,000 to be held to retire debts of prior
hen, and $694,000 issued for betterments, equipment, &o. In 1883-84
netS$16™8l|SWfve 4269’1 i i :)liet’ $164,9i6; *n 1884-5, gross, $570,058;
£ u r in e r n ( o a i u o r m a ) .- o w n s from West Oakland to Martinez, 31
pPlQSi Benicia to Suisun, 16 miles; Woodland to Tehama, 101 miles:
leased, San Pablo & Tulare RR.—Martinez to Tracy City, 47 miles ;
total operated, 195 miles. Completed in 1878 and is leased to the
Central Pacific till Jan. 1,1885, at a rental of $47,500 per month foi
Northern and San Pablo & T. In 1884, rental, $549,050; expenses,
$139,145; profit, $409,905. Rental in 1885, $427,500. In 18818
per cent dividend paid; in 1882,1% ; in 1883, 3^. The Northern
stock is $6,190,500—authorized. $8,400,000, and San P. & T. stock,
$1,861,000. W. V. Huntington, President, San Francisco.
N orth ern , N ew H a m p sh ir e .—Owns from Concord, N. H., to West
Lebanon, N. H., 70 miles; branch, Franklin, N. H., to Bristol, N. H., 13
miles; total, 83 miles. Leased to Boston & Lowell at 5 per cent per
year on stock. In 1885-6, net income from rental and interest account
was $202,572; dividends of 6 per cent, $179,838. The only liabilities
are a guaranty of $500,000 Concord & Claremont Railroad bonds, of
which the Northern RR. owns $250,000. See annual report (V. 40. p.
683, and V. 42, p 752) as to certain litigation. (V. 40. p. 152, 6 8 3 ; V.
42, p. 694, 7 5 2 ; V. 43, p. 184.)
N orthern C entral.—Owns from Baltimore, Md., to Sunbury, Pa.,
139 miles; branch—Relay to Green Spring, 9 miles; leased—Shamokin
Valley & Pcttsville RR., 28 niiles; Elmira & Williamsport Railroad, 78
miles; operated at cost—Chemung Railroad, 22 miles; Elmira Jefferson
& Canandaigua RR., 47 miles—315 miles; track of New York Lake Erie &
Western used 7 miles ; total operated, 323 miles. This was a consolida
tion of several roads in Dec., 1854. The terms of the several leases will
be found under the names of the leased roads. In February, 1882, pur
chased at par the stock of Union Railroad in Baltimore, $600*000,
practically making that road a pait of the Northern Central property,
subject to its mortgages. The consolidated general mortgage (gold) of
1874 was for $10,000,000 to retire all prior bonds. Of the above bonds
$2,438,000 are sterling or dollar, interest payable in London or Balti
more, and the balance are dollar bonds, interest in Baltimore. Under
the 2d gen. mort. of 1876 $1,000,000 more may be issued as Series C.
The bonds due July 1,1885, were paid in part, and the new i ^ s substi
tuted for the balance.
Gross earnings for nine months from Jan. 1 to Sept. 30 were $4,006,833 in 1886, against $3,965,618 in 1885; net, $1,379,654. against $1,561,999.
n .
The business of the company depends to a considerable extent on
coal traffic. The fiscal year ends December 31, and the report for
1885 was in the C h r o n i c l e , V. 42, p. 240. 1
Income account for four years was as follow s:
INCOME ACCOUNT.
55,699
Balance*................... def. 158,807 def.32,590 sur.240,860 def. 73 81
* The accumulated surplu sDeo. 31,1884, was $580,052; charged off c
account of depreciation in invest, in Shen. Val. RR. and Roanoi
Machine Works, $300,000; for extraordinary expenses, &c., $133,l8f
for deficit in 1885, $73,861; leaving surplus Deo. 31,1885, $73,006
- ( V . 41, p. 24,134, 273, 393, 473, 496, 586, 613, 654, 685, 688 • V 4
^ 2 2 , 61,187, 207, 304, 431, 5 1 6 , 549, 664, 728; V. 43, p. 23,132, 27
N orth C arolin a.—Owns from Goldsboro to Charlotte, N. C., 223 m
The property was leased Sept. 11, 1871, to the Richmond & Danville
Railroad for 30 years at a rental of $260,000 per year. Dividends of 6
er cent are paid on the stock, of which the State of North Carolina holds
3,000,000, and the dividends thus received by the State are applied to
er bonds issued to the North Carolina RR. Rental, &c., in 1885-86
273,729; expenses, $24,322; balance, $249,407. .
’
N orth Pacific Cdast.—Owns from Saucelito to Moscow Mills, Cal
73 miles branch to San Rafael, 2 miles; leased, San Rafael to San
Quentin, 4 niiles; and Duncan’s Mills to Ingram, 7 niiles; total oper
ated, 86 miles. Stock, $2,500,000. Earnings in 1885, $289,557; net
$54,998.
N orth P e n n sy lv a n ia .—Owns from Philadelphia, Pa., to Bethle
hem, Pa^, 56 miles; branches—Jenkint’n to Dela. River, 20 miles; Lansdale toDoylestown, 10 niiles; Iron Hill to Shimersville, 2 miles; total
operated, 88 miles. The Northeast Penn, and the Stony Creek roads are
operated under oontract. In May, 1879, was leased to Phila. & Reading
at o'3>7 p. c. on stock till 1883, and 8 per cent thereafter.
Receipts—
Net earnings............
Interest & divid’ds..
Other receipts...........
1882.
$
1,957,852
203,156
80,812
1883.
$
2,256,525
241,914
4,929
1884.
$
2,053,482
256,362
7,467
1885.
$
2,235,309
246,167
7,903
Total income........
Disbursements—
Rentals l’s’d lines,&c*
Interest on debt.......
Dividends..................
Rate of dividend.......
Miscellaneous...........
2,241,820
$
4 , ,256
88 A»75
444,272
7
154,270
2,503,368
$
557,313
881,180
520,000
8
41,130
2,317,311
$
461,761
935,014
520,000
8
46,511
2,489,379
$
442,203
931,272
520,000
8
53,690
Tot. disbursements.
Balance, surplus...
1,956,673
285,147
1,999,623
503,745
1,963,286
354,025
1,947,165
542,i 14
* Includes rent of roads and interest on equipment.
—(V. 41, p. 102. 242, 357, 496, 612, 745 ; Y. 42, p. 156, 2 4 0 , 272, 387,
549, 664,783; Y. 43, p. 132, 245, 368.)
N orthern o f N ew Jersey.—Owns from Bergen, N. J., to Sparkill, N. Y., 21 miles; leased Sparkill to Nyack, 5 miles; total oper
ated, 26 miles. This road was opened October 1, 1859. By contract
of April, 1869, it is operated by New York Lake Erie & Western at 35 per
cent of its gross earnings. It is understood the contract is terminable
by either party on notice. Dividends are paid as earned on the rental.
Gross receipts in 1883-4, $296,410; net, $80 009; interest and rentals,
$35,105; dividends, $35,000; surplus, $9,894. Gross in 1885, $317
458; surplus over interest, dividends, &o.. $12,303. (V. 39, p. 48 )
O ctober , 1S86.]
RAILROAD STOCKS
71
A N D BONDS.
Subscribers w i l l confer a great fa v or b y g iv in g im m ed ia te n otice o f a n y error discovered in these T a b les.
Bonds—Princi
INTEREST OR DIVIDENDS.
pal,When Dae.
DESCRIPTION.
Miles Date Size, or
Amount
per When Where Payable, and by Stocks—Last
Par
of
Por explanation of column headings, &c., see notes of
Outstanding Rate
Dividend.
Whom.
Cent. Payable
Road. Bonds Value.
on first page of tables.
Northern Central—( Continued)—
2d general mort., “ A,” coupon (sinking fund) . . . . 138
do
“ B.” coupon.............. ................. 138
Union RR., 1st mortgage (assumed)......................
do
2d mortgage (assumed)..................
26
Northern o f New Jersey—Stock....................- ..............
21
1st mortgage, extended............................................
21
2d mortgage.......................................... .
2.365
Northern Pacific—Pref. stock(8 p. c., not cum tive).
2.365
1st Mort. and land grant bonds, Missouri D vv.... 205
225
1st Mort and land gr. bonds, Pend d Oreille Div.
Cons. 1st M. Id. g., gold, $25,000 p. m., cp. or reg. 2,020
AU
do
2 d m ., gold, land grant, coup. & reg.
Dividend certificates................ - - - ........... - ..............
' 49
Jas. Riv. Yal. RR. 1st mort...gold, gu ar...............
43
Spokane & Palouse, 1st M., sink. fd.. gold, guar ..
Northern. Pae. Ter.Co.—1st M., g. ($o,000,000) cp..
Northwestern Ohio—Stock........ ...................... . — - ’ *79
66
Norwich <6 Worcester—Stock................ .......................
66
Bonds, coupon........................... - - . - - - ....................
122
Ogdensburg & Lake Champlain—Stock, common .
Sinking fund bonds..................... - - -- -- - - - - ..............
Ï18
Mortgage ponds (redeemable July, 1890).............
118
Consolidated, mortgage (for $3,500,000)........ . ...
* Income bonds, not cumulative..................... ..........
616
Ohio <6Mississippi—Stock, common..........................
Preferred stock (7 p. c. yearly, cumulative)........
1st general mortgage (for $ 1 6 ,0 0 0 ,0 0 0 )........... 624
393
1st consolidated mort. ($3,445,000 are s. f . ) ........
393
Consolidated mortgage, sterling.............................
1876
1876
1878
1869
1879
1879
1881
1883
1883
1886
1886
1883
1877
1870
1877
1880
1880
1882
1868
1868
5
$2,813,000
5
1,000,000
6
900,000
6 g.
600,000
2
1,000,000
6
168,000
7
200,000
38,392,783 lU iocert
49,00u,000
6
2,152,500
6
3,106,000
45,028,000
6g.
18,857,000
6 g.
6
4,640,821
735,0 )0
1,000
6 g.
6
688,000
1,000
3,000,000
1,000
6 g.
2,000,000
4
2,604,400
100
6
400,000
1,000
2
3,077,000
100
8
380,000
1,000
6
600,000
1,000
6
500 &c.
2,529,650
3& 6
999,750
100 &o.
100 20,000,000
3 ■a
4,030,000
100
5
3,216,000
1,000
7
6,501,000
1,000
112,000
£200
6 g.
$1,000
1,000
500 &c.
500 &c.
100
100 &c.
100 &C.
100
100
500 &c.
1,0 >0
1.0Ó0&C
l.OOO&c
Jan. 1, 1926
Jan. 1. 1926
Jan. 1, 1895
May 1, 1900
In 1885
July. 1888
March, 1889
Jan. 15, 1883
Dec. 1,1933
N. Y., Mills Building. May 1, 1919
Sept.
1, 1919
do
do
Jan. 1, 1921
do
do
Dec. 1,1933
do
do
Jan. 1, 1888
do
do
Jan. 1, 1936
do
do
N. Y ., No. Pacific RR. May 1, 1936
N.Y., Winslow, L. & Co. Jan. 1, 1933
Baltimore.
J. & J
do
J. & J.
do
J. & J.
M. & N. London & Baltimore.
New
York
Office.
J. & J.
J. & J. J. City, Hudson Co. B’k.
do
do
M. & S.
M. & N .
M. & S.
J. & J.
A. & O
Jan’y.
J. & J.
M. <fc N.
J. <& J.
J. &
M. &
J. &
M. &
J. &
A. &
4. &
J. Boston, 2d National Bk.
S. Boston, N. E. Trust Co.
Boston, Office.
J.
do
S.
do
J.
do
„
O.
do
O.
M.
J.
J.
J.
S. N .Y ., 31 Pine Street.
New York, Offloe.
D.
do
do
J.
London.
J.
&
&
&
&
July 10, 1886
M archi, 1897
July 10,1876
Mar., 1890
1897
April 1,1920
April, 1920
Mar.
June
Jan.
Jan.
1,
1,
1,
1,
1876
1932
1898
1898
INCOME ACCOUNT.
N o r t h e r n P a cific.—(See M a p .)-L ine of R oad—On June 30.1886,
1885-86.
1884-85.
the mileage was made up as follow s: Main line—Ashland, wis., to Wal1883-84.
$
lula Junction, Oregon, 1,739 miles; Duluth to Northern Pacific Junction,
$
9 r
5,574,263
5,037,848
23 miles; Portland to Eagle Gorge, 192 m iles; South Prairie branch, 10 Net earnings...............................
5,425,820
19,938
24,553
miles; Pasco junction to EUensburg, 127 miles; PayaUup Junction to Adjustm’t of aoo’ts & int. b a l..
39,898
243,319
147,359
Stuck Junction, 7 miles; Duluth to Superior, 7 miles; total owned, 2,105 Dividends on investments.......
38,973
52,578
21,310
miles. Leased—Brainerd to St. Paul and branches, 148 miles; Little General interest account...........
............
Falls & Dakota RR., 88 miles; Northern Pacific Fergus & Black Hills
5,231,070
5,890,098
RR., 117 miles; Fargo & Southwestern RR., 87 miles; San. Coop. & Tur
Total.......................
5,504,691
tle Mount. RR., 36 miles; Jamestown & Northern RR., 87 miles; SykesDisbursements—
town Branch RR., 13 miles; Rocky Mount RR. of Montana, 52 miles; Interest on funded d e b t..........
4,339,094
4,123,949
3,535,038
Helena & Jefferson Co. RR., 20 miles; James River Valley RR.,,49 miles; Rentals...............
581,144
670,748
412,401
total leased, 695 miles; total owned and leased. 2,807 miles. Thompson Guarantee to branch roads.......
352,154
673,850
............
June., Minn., to Duluth is owned jointly with the St. Paul & Duluth.
55,633
50,376
Contributions to sinking fun d..
3,931
O r g a n i z a t i o n .—This company was chartered by act of Congress July Balance general interest acc’t . .
318,284
4,147
2,1864, to build from Lake Superior to Puget Sound and Portland, Or. Opening celebration..................
179,381
39,774
27,341
The land grant was 20 sections per mile in States and 40 sections in Miscellaneous..............................
............
Territories. The road was opened 450 miles west from Duluth—4o Bis5,139,111
5,778,899
march, on the Missouri River—in 1873. The company defaulted Jan.,
Total................................ .
4,449,035
1874, and the road was foreclosed August 12,1875, and reorganized by ■Balanoe,
___ |__
P | .......................
.............
91,959
111,199
surplus.........................
1,055,656
the bondholders’ committee Sept. 29, 1875. New preferred stock was
_q-V.41. p. 5 1,102,146,161, 216, 254, 273, 307, 32 9, 331, 393, 47fi,
issued at the rate of $1,400 for each $1,000 bond and overdue mterest.
896,
527,
557,
612,
654,
685,
722;
V.
42,
p.
3,
22,
85,
93,
156,
169,
187,
S t o c k s a n d B o n d s .— The preferred stock (issued for old bonds) has a
reference for 8 per cent in each year if earned, but is not Cumulative. 243 255, 272, 304, 365, 431,532,5 4 9 ,6 3 2 ,6 4 7 ,6 6 3 ,6 6 1,’ 676: V. 43
p.
4,’
23,
49,13
2
,1
4
5
,16
2
,
256,
275,
3
3
3
,
3
3
5
,
379,
399,
400,
431.)
'he common stock then takes 8 per cent, and after that both share alike.
The preferred stock claim on net income is only subject to expendit ires
N orthern Pacific T e r m in a l Co.—This company owns terminal
for new equipment. The preferred stock is received m payment facilities on the Willamette River, Oregon, at Portland, East Portland
for the company’s lands east of the Missouri River at par and the pro and Albina. Thev are leased for fifty years, jointly and severally, to
ceeds of the lands sold go to the retirement of preferred stock.
the Northern Pacific RR., the Oregon Railway & Navigation Co. and the
A large interest in the stock ($5,683,000 pref. and $7,925,100 of Oregon & California RR., with a guaranteed rental sufficient to pay
com. in April, 1886,) was held by the “ Ore. & Trans-Continental Co.’ interest, sinking fund and taxes. The sinking fund begins in 1893 and
In Sept., 1882, a dividend, in certificates of l l h o per cent, amounting is to be sufficient to retire the bonds by maturity, which bonds may be
to $4,667,490. was declared on the pref. stock payable Jan. lo , 1883. drawn at 110 and interest. The stock of $3,000,000. is qwned by said
Prices of preferred stock since’79 have been: In '80,
: in three companies (40 per cent by Ore. Railway & Navigation Co., 40 per
’ 81, 641s@88:l8; in ’82, 66%@1003s; in ’8 3 ,49%@905s; in ’84,
cent by Northern Pacific and 20 per cent by Oregon & California RR.).
in ’85, 361a@6538 ; i n ’8 £ to O ct 2 3 ,5 3 ^ @64%. Common stock: In 80, and held by Central Trust Co. of New York, to be delivered after pay
20@ 36; i n ’81, 32%@51; in ’82, 28%@5438;in ’83 , 2318®5318; in 84> ments to the sinking fund which is to cancel the bonds. ( V. 42, p. 207,
14@27; in ’ 85, 15@314j; i n ’86, to Oct. 23, 22@295s.
V. 43, p. 49.)
The consol, first mortgage bonds are a first lien on the mam line; ana 243;orth
w estern O h io .—Owns from Toledo Junction to Toledo, O.,
on all the lands of the company except those subject to the two divisional 80Nmiles,
and leases 7 miles, from Mansfield to Toledo Junction. This
mortgages and those lands east of the Missouri River which are subject to
was
a
consolidation
of the Toledo Tiffin & Eastern, the Mansfield Coldthe preferred stock. The issue of bonds is limited to $25,000 per mile
& Lake Michigan and the Toledo & WoodviUe roads. Leased to
The proceeds of land sales can be applied to the payment of _interest on water
Pennsylvania
Company
at cost of operating. In 1884 gross earnings
bonds, instead of principal, if the earnings of the road are insufficient.
Central Trust Co. of N. Y. is trustee. The bonds are received in pay $270,799; net, $30,628. In 1885 gross earnings, $269,510; net, $75,067.
ment for lands at 110 and interest, and proceeds of land sold must be
N orw ich & W o rce ste r.—Owns from Norwich, Conn., to Wor
applied to redemption of these bonds at a price not exceeding 110 and cester, Mass., 59 miles; branch: Norwich to Allyn’s Point, 7 miles;
interest. Sinking fund of one per cent per annum began in 1886. The total, 66 miles. Operated under temporary lease by N. Y. & New Eng
total issue of the Missouri Division (Bismarck on Mo. Riv. to Yellowstone land Railroad. In February, 1885, it was voted to reduce the rental
Riv. 205 miles) and Pend d’Oreille Division (Junction of Snake and co 8 per cent. In the fiscal year ending Sept. 30,1885, the gross receipts
Columbia rivers to Lake Pend d’Oreille 225 miles) bonds was $6,480,- were $750,481; net, $322,493; payments for rentals, $40,050; mterest,
300, against which are reserved a like amount of the Northern $24,395; dividends, $233,802; surplus, $24,245. (Vol. 40, p. 241; V. 41,
Pacific first mortgage bonds; the proceeds of land sales are applied to p.586.)
redemption of these divisional bonds at par,
O g d e n s b u r g & L a k e C h am p lain .—Owns from Rouse’s Point,
The James River Valley bonds are on the road from Jamestown, Dak.,
on the Northern Pacific south to La Moure, 49 miles, where a junction N Y., to Ogdensburg, N. Y., and branch to Maquam, Vt., 130 miles.
On
June 1, 1886, a perpetual lease of this road was made to the Central
is made with the Fargo & Southwestern; the road is leased to Northern
Pacific for 999 years, and the bonds are guaranteed. The Spokane <& Vermont RR. Co., the lessee to pay interest on the bonds. Gross earn,
ings
1885-6, $562,772; net, $223,415; surplus over interest chargePalouse RR. extends from Marshall on the main line to Belmont, 43
miles. It is leased to the N. P. for 999 years, the N. P. paying the mter $12.362. In 1884-85 gross earnings were $616,815; net, $218,275.
(
V
41,
p. 1 0 1 , 496, 654, 745 ; V. 42, p. 22, 387, 753.; V. 43, p. 22.)
est and sinking fund requirements as rental The bonds are issued at
$16,000 per mile, and are redeemable at 105 after 1896.
O h io & M is s is s ip p i.—l-Stee Map o f Baltimore <£ Ohio.) -O w ns from
Other roads leased ,and guaranteed sufficient earnings to pay mterest, Cincinnati, Ohio, to East St, Louis, 111.. 338 miles; Louisville branch.
are named under Oregon Trans-Continental.
.
North Vernon to Jeffersonville, Ind., 53 miles; total Ohio & Miss, line,
L a n d s .— The land grant of the company was 12,800 acres per mile m
391 miles; the Springfield Division, Beardstown to Shawneetown, HI.,
States and 25,600 acres per mile in territories, and the lands earned by 225 miles; total operated, 616 miles. The Eastern and Western divis
construction to June 30,1886, were estimated to be about 44,864,000 ions were sold in foreclosure and the Ohio & Mississippi Co. formed byacres, of which about 39,031,876 remained unsold. The lands consolidation Nov. 21,1867.
. . . . . .
.
east of Bismarck (Minn, and Dak. Divs.) are pledged to the pre
On Nov. 17,1876, the company was placed m the hands of a receiver.
ferred stock, and that stock is received in payment therefor. The The receiver was discharged in April, 1884.
. ..
_
general mortgage bonds cover all tlie other lands, the divisional mortThe annual report for year ending June 30, 1886, was m the Chron
gages having prior liens on their respective divisions. For the fiscal icle of Oct. 30,1886.
,
.
.
year 1885-6 land sales were 370,925 acres for $1,394,227, including
The gros3 earnings, operating expenses and net earnings on the main
town lots. In July, 1886, a sale was made of about 2,430,000 acres of line and the Springfield Division, and the total on the whole line were
land (embracing all lands in Dakota east of the Missouri River) at $2 as below for three years:
••
. .
per acre, payable in preferred stock.
,____ •
1885.
1884.
Cross earnings—
1883.
^ Gross earnings July 1 to Aug. 31 were $2,32^,384 in 1886, agamst
$3,305,967
$3,361,524
$1,971,300 in 1884-5; net, $1,193,478, against «1,056,152. See Chron Mainline.................................... $3,892,040
373,648
341,435
358,110
ic l e , Y. 43, p. 145. The fiscal year ends June 30. The annual report Springfield Division..................
for 1885-6 was published in V. 43, p. 333, and had the^ following:
$3,702,959
$3,679,615
Total.........................
$4,250,150
1883-84.
1884-85.
1885-86.
Operating expenses—
Miles operate' June 30 --------2,547
2,668
2,808
$2,521,828
$2>?01,100
Main line. . . . . . . .......................... $2,809,617
404,905
443,546
460,211
p S T g e f"
4,237,259
3,07?,882
& 9 ? ,m Springfield Division..................
F r e ig h t^ ............... .
7 865,367
7,446,266
8,189,614
$2,926,733
$2,644,646
Total................
-....$3,269,828
Mailf express’, ¿¡c .......................
500,949
712,001
6*3,690
Net earnings—
_
$1,104,867
$839,696
.....................- $1
Totai
12,603,575
11,234,149 11,730,527 Main line
def, 69,898
def. 63,470
Springfield
Division.
.......def.
102,101
Operating expenses..................
7,177,755
6,196,301
6,156,264
Total.................................
$980,322
$776,220
$1,034,969
Net earnings..............................
5,425,820
5,037,848
5,574,263
P
INVESTORS’
SUPPLEMENT.
[V ouxun.
73
R A IL R O A D STOCKS A N D BONDS.
O ctober , 1886.]
Subscribers w i ll confer a great favor by g iv in g im m ediate notice o f any error discovered in tbese Tables.
Bonds—Princi
INTEREST OR DIVIDENDS.
DESCRIPTION.
pal,When Due.
Miles Date Size, or
Amount
Stocks—Last
Rate
per
When
Where
Payable,
and
by
of
Par
of
For explanation of column headings, &c., see notes
Whom.
Dividend.
Cent. Payable
Road. Bonds Value. Outstanding
on first page of tables.
Ohio A Mississippi—( Continued) —
2d consolidated sinkingfund mortgage. . . . . -----Ohio S ^ l h c r n l k mort. ($15,000 per mile)............
2d mort., income ($15,000 per mile).......... - ...........
Bonds (not mortgage) coupon and registered.......
Bonds
do
do
do
.......
Bonds for Framingham & Lowell bonds — ..........
Bost. Clin. F.& N. B., mortgage bonds 1869-70...
do
bonds.......................................
do
mortgage bonds.....................
Oregon A California—1st M .,gold ($20,000 p .m .)..
2d mortgage, $10,000 per mile................................
Oregon Pacific—1st mort., land grant, gold.............
Oregon Railway A Navigation—Stock.......................
Debenture gold loan, coupon..................................
Consol, mortgage, gold, $25,000 per mile.............
OregonShortL.—lst,gld.,int.gu.byU.P.($25,000p.m)
OregonA Trans-Continental—8>t’ck(for $50,000,000)
Trust bonds, gold (1st M. collateral) $20,000 p.m..
Oswego A Rome—1st mortgage guaranteed............
Income mortgage bonds..........................................
Osweao A Syracuse—Stock, 9 per cent guar.............
Consol, mortgage (guar. D .L . & W .)...........-..........
Construction M., guar.prin. &int. (for $1,000,000)
7
A. & O.
New York, Office.
$1,000 $3,761,000
M. & N.
2,009,000
7
do
do
1,000
6
J. & D. N.Y., Corbin Bank’g Co.
2,100,000
1,000
6
J. & D.
2,100,000
do
1,000
3*3 J. & J.
Boston, Office.
100 10,848,620
M. & S.
do
1,692,000
7
1,000
1874
J. & D.
do
500,000
6
1,000
1875
M. & S.
do
6
1,100,000
1,000
1876
F. & A.
6
do
2,000,000
1,000
1877
do
200,000
1882
1,000
4*a J. & D.
4 Lj
do
....
. . . . 1884
416,000
1,000
....
do
750,000
4
. . . . 1884
1,000
43 ’ 69-’70 500 &o.
J. & J.
491,500
7
do
58 1874
7
JV & D.
400,000
1,000
do
120 1880
1,912,100
5
1,000
j . & j . Boston, N. E. Trust Co.
451 1881
9.020.000
1,000
6 g. j . & j . Last paid June, 1884.
451 1883
1,000
7
A. & O. Last paid Oct., 1884.
2.610.000
1.000 25,000 p.m.
1880
6 g. A. & O. New York and London.
706
100 24,000,000 l^ & ^ e x Q.—F. N.Y., Farm. L. & Tr. Co.
1,000
5,690,000
1879
6 g. J. & J.
1,000
1884
5,000,000
7 g. A. & O. New York or Boston.
706 1885
1,000
4,155,000
New York Agency.
5 g. J. & D.
610 1882
F. & A. N. Y. Union Trust Co.
1,000 15,265,000
6
100 40,000,000
....
Q .-J .
1*3
497 1882
1,000 10,063,000
6 g- M. & N. N.Y.,Farmers’ L.& T.Co.
28ifl 1865
M. & N. N.Y.,Farmers’ L.&T.Co.
1,000
350,000
7
1866
1,000
200,000
F. & A. N. Y., Central Trust Co7
107,000
1866
7
35
50
1.320,400
4*2 F. & A. N. Y., Del., L. & W. RR.
. . . . 1876
1,000
M. & S.
do
do
438.000
7
. . . . 1883
M.& N.
....
668,000
5
393
222
132
132
469
....
1871
1874
1881
1881
THe new general mortgage for $16,000,000 was authorized unde
the plan of reorganization, by which $12,784,000 was reserved
to exchange for old bonds as they mature; $2,216,000 used in
paying overdue coupons and all other claim s; and $999,695 expended
for new equipment and terminal facilities. The terms of preference
of the preferred stock state that the holder thereof shall be entitled
to receive from net earnings of the company 7 per cent per annum,
and to have such interest paid in full for each and every year before any
payment of dividend upon the common stock.
Gross earnings Jan. 1 to Aug. 31 were $2,444,252, against $2,354,528; net, $678,233, against $605,065. (V. 41, p. 2 4 ,1©2, 161, 242, 273,
857,420, 446, 527, 654, 688, 745; V. 42, p. 61, 187, 304, 387, 431, 575,
694; Y. 43, p. 73,162, 275, 368, 459, 487.)
Oh i o S o u t h e r n .—The road will extend from Springfield, Ohio,
to some point on the Ohio River. Length of road completed and in
operation Deo., 1884: Springfield, Ohio, to Wellston, with extensions
and branches, 132 miles. Stock (par $100), $3,840,000. Gross earn
ings in 1884, $473,001; net, $141,314; interest paid, $116,100.
Gross in 1885, $468,558, net, $173,132; interest on debt, $126,377;
surplus for year, $46,622, Alfred Sully. President.
O ld C o lo n y (M a s s .)—Owns from Bo ton to Provincetown, Mass.
120 miles, and lines to Kingston, Plymo .rh, Somerset Junction, New
Bedford, Lowell and Fitchburg, Mass., and to Newport, R. I.; total,
869 miles; numerous branches, 85 miles in all; leased—Fall River
Railroaa, 12 miles; Dorchester & Milton Railroad, 3 miles; total
length of all lines, 469 miles. Fall River Railroad was leased April
1,1882, for 99 years. In March, 1883, consolidation with the Boston
Clinton Fitchburg & New Bedford was made and an increase of stock to
$12,000,000 was voted. In May, 1884, the Lowell & Framingham was
absorbed on the terms given in V. 38, p. 540, and the 4Lj per cent bonds
of 1884 were issued. The annual report for 1884-85 was in Y. 41, p.
526, and had the following:
INCOME ACCOUNT
Sound lines, 275 m.; River lines, 363 m.; total of water lines, 1,308 miles.
The company pursued the policy of increasing its capital stock to raise
money for improvements, and in a few years the amount was raised
from $6,000,000 to $24,000,000. In June, 1885, the consol, mortg. was
made at the rate of $25,000 per mile and $6,000,000 reserved to take
up the old mort. bonds, and $5,000,000 to take up the debentures. The
Farmers’ Loan & Trust Co. is the trustee.
In March, 1881, a majority of the stock of this company was trans
ferred to the Oregon Trans-Continental Company, and after Nov. 1,1885,
that Company held 139,413 shares.
For three months from September 1 gross earnings were $1,435,262
in 1886, against $1,425,893 m 1885; net, $686,293, against $723,957.
For the fiscal year 1885-86, gross earnings were $5,546,540; net, $2,564,488.
The annual report for the year ending June 30, 1885, was in the
Ch eonicle , Y. 41, p. 609. The income account was as follow s:
INCOME ACCOUNT.
Receipts—
Netearnings____ . . .
Other receip ts .......
Total in com e.........
Disbursements—
Rentals p a id ............
Interest on d e b t. . . .
Dividends.................
Rate of dividend.. .
Mis. and. sink. fund.
Total disb’m ents.
Balance, surplus...
1881-82.
$
2,335,439
180,725
1882-83.
$
2,394,046
95,167
1883-84.
$
2,393,450
301,444
1884-85.
$
1,482,760
138,903
2,516,164
2,489.213
2,694,894
1,621,663
112,760
444,743
1,296,000
(8)
13,600
145.429
444,270
1,584,000
(9)
79,230
354,180
440,160
1,800,000
(7*2)
79,855
124,087
529,165
1,080,000
(4*s)
119,091
1,867,103
649,061
2,252,929
*226,284
2,674,195
1,852,343
t20,699 Def.230,680
1882-83.
1883-84.
1884-85.
* Adding bonds retired by sinking fund during the year makes surplus
$
$
$
t Deducting $91,000 for depreciation
4,249,179 4,191,872 4,251,186 $63,000 larger than here given.
of steamers leaves a deficit for the year of $70,300.
1,305,449
1,228,441 1,296,503 1,281,056 —(V. 41, p. 102, 273, 496, 6 0 9 , 613, 721; V. 42. p. 61,187, 783; V. 43
77,498
74,676
68,998
79,334 p. 132, 191, 238, 399, 459.)
Oregon S h o r t L in e .—Road from Granger on the Union Paciflo
Total in com e....
1,382,947
1,303,117 1,365,501 1,360,390 (156 miles east of Ogden) to a junction with the railroad of the Oregon
Railway & Navigation Co., at Huntington, Oregon, 540 miles, with Wood
Disbursements—
$
$
$
$
Rentals paid............
449,588
*191,001
46,614
45,594 River branch to Ketchum, 70 miles. Total 609 miles. The connec
Interest on debt.......
345,208
*446,476
556,866
551,424 tion through was made in November, 1884. Built under Union Paciflo
Dividends.....................
489,697 *608,006
723,989
738.122 control, and interest on the bonds guaranteed. The stock is $15,265,000.
Union Pacific owns a majority of the stock and $2,195,000 bonds. Gross
Rate of dividend . . .
6*2
7
7
7
Improvem’t account
98,454
57,634
38,032
25,250 earnings Jan. 1 to Aug. 31, in 1886, $1,141,397, against $952,788 in 1885;
net, $341,994, against $2,733,866. Gross earnings in 1884, $1,059,200;
Total disburse’ts 1,382,947
1,303,117
1,365,501
1,360,390 net, $403,643; interest and taxes, $809,547; deficit, $446,600. For
1885 gross earnings were $1,833,190, against $1,059,200 in 1884; net,
$557,959, against $288,640 in 1884. (V- 40, p. 7 18,764; V. 41, p. 103,
* Consolidated with Boston Clinton & Fitchburg RR. in 1883.
216, 331, 446, 722; V. 42, p. 156, 272, 304, 387, 575, 664; V. 43, p. 103,
- ( V . 41, p. 5 2 6 .)
Oregon & C alifo rn ia.—From Portland, Or., to Ashland, 341 217, 368.)
Oregon & T ra n s-C o n tin e n ta l.—Company organized under the
miles; Albany Junction to Lebanon, 12 miles; West Side Division, Port
land to Corvallis, 97 miles. Total finished, 451 miles; to be completed laws of Oregon on June 27,1881, and received from the “ Villard Pool”
to a junction with Central Pacific at the California State line, the gap an assignment of the stock of the Northern Pacific Railroad purchased
to be finished on this road being 28 miles, and on Cen. Paciflo 97 miles. by it. The company’s object was to hold the stocks of the Oregon Rail
The present Oregon & California RR. is a reorganization of the original way & Navigation Company and the Northern Pacific, and to con
Oregon & California, which company was in default after 1873. The struct connecting roads.
I n the C h r o n i c l e of May 29,1886, (V . 42, p. 664) there was a state
land grant is about 4,000,000 acres; bonds are receivable for lands.
ment of the O. & T. assets, including 139,412 shares of O. R. & Nav. Co.,
Preferred stock is $12,000,000; common $7,000,000.
In January, 1885, default was made and receiver was appointed. 56,830 of N. Pac. pref. and 79,251 of N. Pac. common. In Deo., 1885,
Foreclosure suit under the mortgages was begun by the Fanners’ Loan the company arranged a new loan for $4,005,000, at 5 per cent, for
& Trust Co., trustee. In May, 1885, a plan was adopted in London for three years, secured by collaterals. The balance of the unfunded debt,
amalgamation with Central Pacific before July, 1886, by an exchange amounting to $3,573,000 in June, 1886, is carried on demand and short
of O. & C. stock for C. P. stock on the following terms: One share of loans. (See financial report in V. 43, p. 162.)
Total authorized capital is $50,000,000. The bonds may be redeemed
Cent. Pac. for every two shares of O. C. preferred paying an assesst of $4 per share; also one share of Cent. Paciflo for every four shares at 105; they are secured by deposit in trust of first mortg. bonds on
of O. C. common paying an assessment of $3 per share; also new bonds new branch railroads, at $20,000 per mile; also secured by traffic con
to be issued by C. P. in place of the O. & C. bonds, in the proportion of tracts with the Northern Paciflo RR. Co. guaranteeing a mmimriTn net
$1,150 in new C. P. bonds for each $1,000 of O. C. nonds, the new C. P. annual income of $1,400 per mile, being equal to 6 per cent per an
bonds to draw 3 per cent for two years and 5 per cent afterward. For num on $20,000 per mile of bonded indebtedness, and a sinking fund
year 1884 gross earnings were $1,014,427; net, $140,765. In 1885, gross charge of one per cent. The roads thus mortgaged are: The No. Pacific
earnings were $957,958; net, $192,066; other receipts, $45,453. Fergus & Black Hills of RR. of Minn., 117 miles, $2,342,000; Little
Charges—Interest (not paid), $541,200; sinking fund, $45,453; miscel Falls & Dakota RR., of Minn., 88 m., $1,757,000; Jamestown & North
laneous, $14,073. Deficit for year, $363,207. (V. 41, p. 331, 473; V. ern RR. of Dakota, 102 m., $2,050,000; Fargo & Southwestern RR., of
Dakota, 87 m., $1,748,000; Sanborn Cooperstown & Turtle Mountain
42, p. 754.)
Oregon P acific.—Road in progress and 70 miles, from Corvallis to RR , 36 m., $730,000; Rooky Mountain RR.. Montana, 52 m., $1,034,
Yaquina, on Yaquina Bay, completed in October, 1884. Land grant, 000; Helena & Jefferson County, 20 m., $402,000 total, 503 miles—
over 900,000 acres, and covered by first mortgage. Stock is $30,000 per at $20,000 per mile—$10,063,000 in bonds.
Quarterly dividends began in Jan., 1883, at 1*2 per cent, and ceased
mile. T. E. Hogg, President, Corvallis, OregOD. N. Y. Office, 45 William
after October, 1883. (V. 41, p. 102, 190. 208, 393, 446,527, 557, 689,
Street. (V. 40, p. 183, 764.)
722; V. 42, p. 207, 664, 78?; V. 43, p. 162.)
Oregon R a ilw a y &. N av ig a tion .—July 1,1885. railroads oper
O sw ego dc R o m e .—Owns from Richland, N. Y., to Oswego, N. Y .,
ated were as follow s: Portland to Riparia, 301 miles; Bolles Junction to
Dayton, 13 m iles; Walla Walla to Blue Mountain, 20 m iles; 29 miles. Road opened Jan. 1,1866. It is leased to the Rome WaterPendletcn to Centreville, 17 miles; Palouse Junction to Colfax, town & Ogdensburg RR. at 8 per cent on its stock ($300,000) ana 7 per
89 miles; Umatilla to Huntington, 217 miles; total, 657 miles. cent on guar, bonds, pref. stock being represented by convertible bonds,
Ocean line between San Francisco and Portland, 670 miles ; Puget $62,100iof bonds due 1870 are yet outstanding.
Gross earnings........
Net receipts—
Net earnings..........
Other receipts.........
1881-82.
$
4,126,258
April, 1911
Nov. 1, 1905
June 1, 1921
June 1, 1921
July 1, 1886
March 1,1894
June 1,1895
Sept. 1, 1896
Aug. 1. 1897
Deo, 1 ,1 8 9 7
1904
1904 .
1889<fe'9(?
July 1, 1894
Jan. 1, 1910
July 1, 1921
April 1, 1933
Oct. 1, 1900
Oct. 1, 1886
July 1, 1909
April 1,1887
June 1,1925
Feb. 1, 1922
Oct. 15, 1883
May 1, 1922
May, 1915
Feb., 1891
2866
Aug., 1886
1907
May, 1923
74
INVESTORS’
SUPPLEMENT.
(T ol . X L U l.
Subscribers w i ll confer a great fa v or by g iv in g Im m ed iate n otice o f an y error discovered In tbese T a b les.
Bond«—Princi
DESCRIPTION.
INTEREST OR DIVIDEND.
Miles Date Size, or
pal,When Due.
Amount Rate per
Par
of
or explanation of column headings, &c., see notes of
When Where Payable, and by Stocks—Last
Outstanding
on first page of tables.
Road. Bonds Value.
Cent. Payable
Whom.
Dividend.
Owensboro & Nashville—1st mortgage, gold..........
123
Collateral trust (4o0,000.).......................................
84
Panama—Stock.......... ...................................................
48
General mortgage, sterling, (£737,800).................
48
Sinking fund subsidy, gold.......................................
48
Paris <&D ecatur- See Illinois Midland.
Paterson <£Hudson—Stock...................................... ..
15
Pennsylvania—Stock.................................................... 2,036
Gen. M., Pb. to Pitts., coup., J. & J.; reg., A. & O. ___
State lien (pay ’ble m annual inst’lm’ts of $460,000) . . . .
Consol. M., coup. J. & D., & reg. Q.—M. (s. f. 1 p. c.)
Consol, mortgage, gold.............................................
Bonds, reg. (P. W. & B. stock deposited as collat’l) 571
Collateral trust loan (coup., but may be reg.).......
....
Car Trust certs, (in series payable fioth yearly)..
Navy Yard bonds reg. (extended 20 years in ’81)
Pennsylvania Company—S tock.............. ............... 3,232
Reg. bonds, secured by P. Ft.W.& C. special stock . . . .
Bonds, gold, secured by pledge and guarantee___
Pennsylvania <GNew Tor k—1st mort., guar.............
Ï05
1st mortgage, guaranteed......................................... 105
Pennsylvania Schuylkill Valley—Stock....................
1st mortgage bonds, registered.. .................. .........
54
Pensacola <GAtlantic—1st m. g, (guar, by L. & N.).- All.
47
Peoria <t Bureau Valley—Stock...................................
Peoria Decatur <6Evansville—Stock..................... .
254
1st mort., gold (Pekin to Mattoon)..........................
Income bonds,
do
not cumulative...
1st mortgage (Evansv. D iv.)..................................
Income bonds
do
not cumulative___
1881
1883
1867
1880
....
1870
1873
1879
1881
1883
1875
1877
1881
1866
1866
1883
1881
1880
1880
1880
1880
$1,000
5,000
100
£200
1,000
” 50
1,000
1,000
1,000
r,o5o
1,000
1,000
50
1,000
1,000
1,000
1,000
50
1,000
1,000
100
1,000
1,000
1.000
1,000
O sw ego & Syracu se.—Owns from Oswego, N. Y., to Syracuse,
N. Y., 35 miles. Leased in 1868 to the Delaware Lack. & West. RR. Co.
or 9 per cent per year on stock and interest on bonds.
O w en sb oro & N asbvrlle.—Owns from Owensboro, Kv., to Adairvllle, Kv., 84 miles. Controlled in 1879 by the Nashville Chattanooga
As St. Louis, and now operated by Louis. & Nash. RR., which owns a
majority of the stock. The $2,000,000 1st M. bonds are pledged for the
collateral trust bonds. Gross earnings for 1884-85, $165,437; net,
$37,580. Gross in 1883-4, $101,138; net, $15,832. Stock is $1,156,517.
P a n a m a .—Owns from Aspinwall to Panama, 48 miles. Opened
through Jan.28,1855. Of the general mortg. bonds $700,000 fall due in
seven half-yearly payments beginning April, 1886, and balance in Oct,,
1897. The $2,747,000 subsidy bonds are secured by a pledge of the
sum of $225,000 annual subsidy payable to the U. S. of Colombia by
the company. In June; 1881, most of the stock was sold to parties
nt ® re 3ted in the De Lesseps Panama Canal Co. The report for 1885 was
In Chronicle of April 17,1886, showing net income of $612,550, and
a deficit, after paying 10 per cent dividends, of $628,490. 10 per ct. paid
in 1885. Tlie surplus to Dec. 31,1884, was $1,076,557; surplus to Dec.
31, 1885, $448,166. (V. 40, p. 5 4 0 , V. 42, p. 455, 4 86.)
P aterson & H u d s o n .—Owns from Jersey City, N. J., to Pater
son, N. J., 15 miles. The road was opened in 1834, and leased
in perpetuity September 9,1852, to the New York & Erie, at a rental of
$48,400 per year, and is operated by the New York Lake Erie & Western
as part of its main line. J. S. Rogers, President, New York City.
P e n n sy lv a n ia .—(See Map)—L ine o f R o a d —The Pennsylvania sys
tem embraces about 5,500 miles of railroad, including all east and west
of Pittsburg. At the close of 1885 the mileage operated east of Pitts
burg & Erie, on which earnings as reported were based, was divided as
follow s: Pennsylvania Division and branches, 1,516; Philadelphia &
Erie Division, 287; United Railroads of N. J. and branches, 445; total
. operated, New York to Pittsburg, with branches, 2,248.
O rg an ization , L eases , &c.—The charter of the Pennsylvania Rail
road was dated April 13,1846, for a line from Harrisburg to Pittsburg.
The line from Harrisburg to Philadelphia was under other organizations,
Including the State Railroad, and the Harrisburg Portsmouth Mt. Joy &
Lancaster is still operated under a lease though forming part of the
mainline. Road opened in 1854. The great number of leases,both east
and west of Pittsburg, were made for the most part under the adminis
trations of J. Edgar Thomson and Thos. A. Scott in the few years preced
ing 1873. The terms of the leases will be found under the names of the
respective leased roads.
The Pennsylvania Company was organized in 1870 as an auxiliary
corporation to control all the lines west of Pittsburg & Erie, and the
Pennsylvania RR. Co. holds all the stock of the Pennsylvania Company
Sto c k an d B onds .—The Pennsylvania Railroad stock has been in
creased from time to time, chiefly by the sale of stock at par to stock
holders, for the purpose of raising capital for new acquisitions or better
ments. The dividends paid each year since 1870 have been—in 1871,
1872,1873 and 1874, 10 per cent each [year; in 1875 and 1876, 8 per
oent each year; in 1877, 4 ; in 1878, 2 ; in 1879, 4 *2 ; in 1880, 6 and 1
per cent in scrip; in 1881, 8 ; In 1882, S ^ ; in 1883, 8*2 ; in 1884, 7 ;
In 1885, 5.
The prices of the stock yearly in Philadelphia since 1875 have been—
I n ’76, 45@583g; i n ’77. 245s®49; in ’78, 27®35 14; i n ’79, 323g®5138;
n ’80, 48®67*4; i n ’81,
in’82.5378®6514; i n ’83, 561s®64^;
in ’ 84, 4944®61; in ’ 85, 45%®561s ; in ’86 to Oct. 23, 5138 ^eO^q.
In March, 1881, the company purchased 217,819 shares of thePhila
Wilm.& Balt RR., and the 4 per cent bonds secured by P. W. & B. stock
are purchased yearly at not over oar with the surplus proceeds of Ph
W. & B. dividends and not needed for the payment of 'ate rest.
The collateral trust loan of 1883 is secured by the deposit of mortgage
bonds of subsidiary lines to the par value of $12,500,000.
In May, 1886, voted to increase capital 4 per cent by givingstoekhold
ers the option to take 4 per cent of their holdings in new stock at par,
making an increase of $3,791,114, to be issued in November, scrip being
held in the meantime.
O pe r a tio n s , F inances , <&c.—The total ¡cost to the Pennsylvania Rail
road Co. of the stocks and bonds of other companies held in its treasury
was, up to Dec. 31,1885, $100,092,740 (par value of the same $132,658,746), most of which is represented on the other side of the balance
sheet by issues of Penn. Railroad stock and bonds and other debit items,
the balance to credit of “ profit and loss” is $14,734,192.
A scheme to buy up the company’s guaranteed securities with $600,000 per vear from earnings was in operation, and ihe entire amount
paid by the oompany into the Trust up to the end of 1885 was $3,750,000. There had been purchased for the fund securities of the par
value of $4,785,350,which yielded an interest of 6'9 percent per annum
unon the purchase price. In 1885 the plan was changed, and now 1 per
cent of the net income is applied to this purpose yearly
From Jan. 1 to Aug. 31,1886, gross earnings on lines east of Pitts
burg and Erie were $32,192,231, against $28,961,004 in 1885; net,
$11,155,297, against $9,328,920 in 1885. Deficit on lines west of Pitts
burg and Erie, $344,206 in 1886, against deficit of $1,154,259 in 1885.
The report for 1885, was in the Chronicle ,Y. 42, pp. 303 and 308.
A summary of the total business of 1885, compared with previous
years, is shown in the follow ing:
(Pledged)
$260,000
7,000,000
3,589.000
2,747,000
630,000
94,777,850
19,999,760
1,986,364
27,482,930
5,000,000
8,734.000
10,000,000
7,017,000
1,000,000
20,000,000
2,314,000
13,217,000
1.500.000
1.500.000
4.970.000
4,800,000
3,000,000
1.500.000
8.400.000
1,287,000
858,000
1.470.000
1,230,000
6
6
2
7
6
g. M. &
g F. &
J. &
g. A. &
g. M. &
N.
A.
J.
O.
N.
New York.
do
New York, Office.
London.
New York.
Nov. 1, 1931
Aug. 1, 1888
July 1, 1885
’86 to ’89 & ’97
Nov. 1, 1910
4
21s
6
5
6
5
4
4^
5
5
4
6
412g.
7
7
J. & J.
New York.
M. & N. Philadelphia, Office.
Q.—J. Philadelphia & London.
A. & O. Philadelphia, Office.
Q.—M. Philadelphia & London.
J. & D.
do
do
J. & J.
do
do
J. & D.
do
do
Q’rt’rly
Philadelphia.
J. & J. Phil.,Pa., Co.,forins.&c.
Pittsburgh, Co.’s Office.
Q.—J. Phila. Tr. S. D. & I. Co.
J. & J. N. Y., Nat. City Bank.
J. & D. Phila., B’k N. America.
J. & D.
do
do
5
6
4
J. & D. Philadelphia, Penn. RR. Dec. 1, 1935
F. & A. N. Y., Comp’ys Agency. Aug. 1, 1921
F. & A. N. Y., Chic., R. I. & Pac. Aug., 1886
July 2, 1886
May 28,1886
1910
Annually.
June 15,1905
Dec. 1, 1919
July 1, 1921
June 1, 1913
1891-93
Jan. 1, 1901
For 1883
July 5, 1907
July 1, 1921
Jun6 1, 1896
June 1, 1906
6 g. J. & J. N. Y., Central Tr. Co.
6
do
6
M. & S.
do
6
M. & S.
do
ALL LINES’ BOTH EAST AND WEST OF PITTSBURG
Jan.
Jan.
Sept.
Sept.
&
1,
1,
1,
1,
1920
1920
1920
1920
ERIE.
„
1883.
1884.
1885.
Gross earnings...................... $105,653,532 $97,849,875 $92,994,549
68,917,056 64,434,317
61,690,901
Operating expenses.............
Net earnings.................... $36,736,476 $33,415,558 $31,303,648
The income account below embraces all receipts and expenses of the
Pennsylvania Railroad proper, but not including the roads west of Pitts
burg & Erie operated by the Pennsylvania Oompany. The account for
the years 1883,1884 and 1885 was as follows:
INCOME.ACCOUNT OF PENNSYLVANIA RAILROAD COMPANY.
1883.
1884.
Net income Penn. RR. Division.$ll,943,432 $10,185,529
Net loss New Jersey Division ..
653,914
593,536
1885.
$8,153,685
159,497
Balance................................. $11,289,516
Deduct—
Advances to Penn.Co., $1,667,733, of which there has been
ft
charged to Penn. RR. income
Payments to trust fund.............
600,000
Consol, mortgage redeemed___
280,860
Allegheny Val. RR.—Deficiency•
251,520
409,490
Do
Advances. .
Fred, & Penn. Line RR.
do
15.000
Am. 88. Co.—To meet int. guar..
90,000
90.000
Do
Advances.
$9,591,993
$7,994,188
Balance to credit of income.
Rate of dividend.
Balance old accounts, &o.
.
ft
600,000
277,460
698,320
$1,000,639.
58,621
324,830
701,576
15,000
15.000
90.000
$1,736,970
$9,552,646
7,530,650
(8*2)
$1,590,780
$8,001,213
6,560,787
(7)
$2,190,666
$5,803,522
4,738,892
(5)
$2,021,996
603,452
$1,440,426
1,020.692
$1,064,630
363,355
$1,418,544
12,191,639
$419,734
13,613,184
$701,275
14,032,91»
Balance profit and loss Deo. 31. $13,613,183 $14,032,918 $14,734,193
- ( V . 41, p. 24, 43, 89, 103, 230, 242, 341, 357, 483, 496, 508, 597,
613, 627, 733,745; V. 42, p. 137,157,255, 272, 285, 30 3 , 304, 3 0 8 ,
339, 379, 397, 549, 597, 647, 664, 768,783; V. 43, p. 115, 132, 245, 352
368, 431.)
P en n sy lv an ia C om p an y.—The Pennsylvania Company is a cor
poration chartered by the Pennsylvania Legislature, April 7,1870, dis
tinct from the Pennsylvania RR., and it operates all the leased lines west
of Pittsburg. The stock is owned by the Pennsylvania RR.
The registered bonds are secured by deposit of $4,000,000 of Pittsb. Ft.
W. & Chic, special stock. The goldbonds of 1921 are secured by a deposit
in trust of the leases of the Pitts. Ft. W. & Chic, and the Cleve. & Pitts,
railroads and are also guaranteed by the Penna. RR. Co. The trustees
of the mort. are Wistar Morris, Edmund Smith and 8. M. Felton. The
sinking fund is 1 per cent per annum if the bonds can be bought at par.
The whole number of miles operated or in any way controlled
by this company is 2,745. The income account of the company showed
net profits over all liabilities, including fixed charges, of $1,867,883 in
1882; $872,829 in 1883; deficit in 1884 of $710,220; deficit in 1885 of
$1,091,671. (Y. 40, p. 286, 685.)
P e n n sy lv an ia & N ew Y o r k (C anal a n d H a llw a y ).—Owns
from Wilkesbarre, Pa., to N. Y. L. E. & W. RR. near New York State
Line, 104 miles. Branches to mines, 23 miles. Operated in connection
with the Lehigh Valley Railroad as a northern outlet. Common stock,
$1,061,700, and preferred stock, $4,000,000. Gross earnings in 1883-84,
$2,151,338; net, $609,544. Gross in 1884-85, $1,827.460; net, $325,010. Seven per cent dividend paid on preferred stock in 1885.
P e n n sy lv an ia S c h u y lk ill V a lle y .—June 1,1883, the organiza
tion of this company was completed by consolidation between the Phil.
Norristown & Phcenixville, the Phcenixville Pottstown & Reading and
the Phcenixville & West Chester railroad companies. The road extends
from Philadelphia to Hamburg, 84 miles, and is controlled by the Penn.
RR. Co. Gross earnings in 1885, $360,482; operating expenses, $400,585. J. N. DuBarry, President. (V. 41, p. 557; V. 42, p. 61.)
,
P e n s a c o la & A tla n tic .—Pensacola, Fla., to River Junction, Fla.,
162 miles. Road completed Feb., 1883. Operated by Lou. & Nash, since
Jan., 1885, and connects its system with the roads of Florida and So.Ga.
Stock, $3,000,000. Has issued $1,000,000 land grant bonds to the Lou.
& Nash., RR. Earnings for fifteen months, April 1,1884, to June 30,
1885, $373,670; net, $64,839; interest on bonds, $225,000; other
interest and construction, $67,144; deficit, $227,305. (V. 41, p. 613.)
P eoria & B u reau V a lle y .—Owns from Bureau Junction to Peo
ria, 111., 47 miles. The road was leased in perpetuity April 14,1854, to
the Chicago & Rock Island Railroad at a rental of $125,000 per annum.
P eoria D ecatur & E v a n sv ille .—Owns from Pekin to Evansville,
235 miles; branch—StewartsvilLe, Tnd, to New Harmony, Ind., 6
miles; leased, Pekin, 111., to Peoria, 111., 10 m iles; through Decatur,
3 miles; total, 254 miles. This road is a consolidation of the
Pekin Lincoln & Decatur RR. (formerly leased to the Wabash) and the
Decatur Mattoon & So. and the Grayville & Mattoon. Gross earnings
Jan. 1 to Aug. 31, $501,488, against $463,305 in 1885; net, $241,524,
against $202,547. Annual report for 1885 injV. 42, p. 363. Gross earn-
BONDS.
R AILR O AD STOCKS A N D
O c t o b e r , 1886.]
76
IN Y E S T O K S ’
SUPPLEM ENT.
LVol. XLITI.
Subscriber« w ill confer a great favor by g iv in g Im m ediate notice o f an y error discovered In these Tables.
DESCRIPTION.
Bonds—Princi
INTEREST OR DIVIDENDS.
Miles Date Size, or
pal,When Due
Amount Bate per
For explanation of column headings, &c., see notes of
Par
of
When Where Payable, and by Stocks—Last
on first page of tables.
Road. Bonds Value. Outstanding Gent. Payable
Whom.
Dividend.
P eoria <£ Pekin TJnion—1st mortgage, gold, coupon
20 1881 $1,000 $1,500,000
Q .-F . N. Y., Central Trust Co. Feb. 1, 1921
6
g.
Second mortgage, gold (issued for in com es).......
20 1881
1,000
1.500.000
4=!flg. M. & N,
do
do
Feb. 1, 1921
Perkiom en—1st mortgage:.........................................
38 1867
100
799,600
6
A. & O.
Norristown, Pa.
Apr. 1, 1887
Consol, mort., gold, guar. P. & R.t (sink, fund)...*
38 1873
1,000
1.125.000
J.
&
D.
do
do
June 1, 1912
Peterborough (If. H.)—Stock.......................................
11
100
385.000
Î * M. & N, Nashua, Treasurer.
May, 1886
Bonds (not mort.), redeemable after 1882 ..IIIIII
1*877 500 &c.
50.000
6
A. & O. Boston, N. E. Trust Co. Oct. 1, 1897
Petersburg—S to c k ........................................................
*63
100
1.000.
700 7
Guaranteedpref. stock, 6 per cent............... -----50
323,500
3
1883-84
1st mort. bonds (payable $25,000 yearly)............\ *82 1869
319.000
8
J. & J,
Petersburg, Va.
Jan,, 1887-’98
Mortgage bonds, class A .........................................
1881
560.000
5
J. & J,
do
July 1, 1926
Mortgage bonds, class B ......................................... .
1881
883.000
6
a . & o;
Oct. 1, 1926
Philadelphia dt Balt. Central—Stock....................
83
50
2,495.650
1st mortgage (for $2,500,000)............................... I
83 188*1
1,000
1 , 000^000
5*
M .& N , Phila. Company’s Office, Nov. 1, 1911
Westchester & Phila., 1st mortgage.......................
27 1871 100 &c.
1.100.000
7
A. & O
do
do
April 1, 1891
Philadelphia <&Erie—Stock, common......................... 287
50
7.975.000
Preferred stock, special............. .........................
287
50
2.400.000
Philadelphia, Pa. RR.
1st mort., Sunbury & E. (extended 20 years in '77).
1,000
40 1857
976.000
7
A. & O. Philadelphia, Pa. RR. Oct. 1, 1897
2d mortgage............................................... ; .............. 287 1868
1,000
3.000.
000 7
J. & J,
do
do
July 1, 1888
General M., g., guar by Pa.RR.($5,263,000 rg’.*5s) 287 1869
1,000
13.943.000 5 & 6 g. Various Philadelphia & London July, 1, 1920
Debenture bonds, reg. (redeemable at any time)..
1,000
1885
1.500.000
4*2 F. & A. Philadelphia, Penn.RR, Feb. 1, 1915
Phila. Germant’n <£ Chestnut H ill—1st mort., guar
1,000
7 1883
1.000. 000
4*3 M. & N.
M a y l, 1913
Philadelphia Germantown <&Norristown—S tock ....
2d
50
2,231,900
3
Q.—M. Phila., Treasurer of Co. Sept. 3, 1886
Philadelphia Newtown <e New York—Stock___
50
1.200.000
Bonds, guar, by Phila. & Read., coup....................'
*21
100 &c.
700.000
* 6*
A. &**o. Phila., 227 So. 4th St. Oct. 1, 1897
Philadelphia <£Beading—Stock, com mon... .
932
50 36,822,975
2 hs
Philadelphia, Office,
Jan. 25,1876
Preferred stock....................................................
932
50
846,950
3%
do
do
July, 1876
Receiver's certmcates outstanding Nov. 30,1885.
1884
2,980,289
4 ,5 ,6
Mortgage loan, sterling, co u p o n ...... .....................
1843
¿500
967,200
6
&
J.
London.
July, 1910
do
dollars, coupon................................
1843-9 1,000
1.500.000
6
& J. Philadelphia, Office,
July, 1910
do
convertible, coupon.........................
1857 500 &c.
79.000
6
&
J.
do
do
July,
1886
Mortgage loans, coupon..................................... .
1868
1,000
2.700.000
7
& O.
do
do
Oct.
1, 1893
Consol, mort. ($8,162,000 are gold 6s) cp. or reg.
1871 200 &c. 18.811.000 6 g. or 7 J. & D. Philadelphia & London.
June, 1911
Gen, mort., gold, $ and £ , cp. ($5,000,000 are 7s).
1874
1,000 24,686,000 7 & 6 g. J. & J. Last paid July, 1884
July 1, 1908
lugs in 1884, $759,768; net, $231,921; gross in 1885, $736,984; net,
•Philadelphia Sc B e a d in g . — L i n e
$247.655; interest on mort. bonds, $165,420; payment on equipment
certificates, $48,000; surplus, $34,235. This road is operated in har
mony with the Evansville & Terre Haute. (V. 40, p. 3 6 2 ; V. 42, p
363 ,4 6 3 , 519, 575; V. 43, p. 162, 275, 335, 368, 459, 487.)
D®™i,.aSd P ela^ ate & Bound Brook roads. from PMadffiphia ^to Bound
P eoria Sc P e k in U n io n .—Owns from Pekin to Peoria, 10 miles Brook, N. J., and branch to Trenton, and the Central of New Jersey
May, 1883, leased the Central RR. of New Jersey, including
on each side of HI. R iver; total operated, 20 miles. The road is a union
l^ o s in Pennsylvania, 650 miles, but 63 miles of these roads
road, and the stock of $1,000,000 was taken by the different Peoria £*L
RR. companies, and they pay a rental for use of the road and also pay are suo-let to other companies. The Shamokin Sunbury & Lewisburg,
terminal charges. See full description in V. 36, p. 253. Opened Feb., and the Jersey Shore Pine Creek & Buffalo and other lines, form the
1881. In 1885, gross receipts, $397,506; net, $168,437; balance g ^ ^ o n d s to the New York Central & Hudson at Geneva and
over interest and rentals, $4.286. Gross receipts in 1884, $429,847
Org an ization , L eases , & c .—The Philadelphia & Reading Company
net, $174,369; balance over interest and rentals, $71,889. A. L. Hon
was chartered April 4,1833, to build from Philadelphia to Reading; and
kins, President, New York.
°u
M ay 13,1872, the Mount Carbon Railroad was merged and became
P e rk io m e n .—Own from Perkiomen Junction, Pa., to Emaus
the mam line. ^ Road opened Philadelphia to Pottsville in Jan,
Junction, 39 miles. The road was leased for 19 years from Aug. 1, Partof
1842.
The Philadelphia & Reading Co. leases a number of roads in
1868, to Phila. & Reading RR., and bonds guaranteed by the lessees; but Pennsylvania,
including the Catawissa, Chester Valley, Colebrookdale.
the property was surrendered and all control given up in May, 1879. EaetPennsylvama,
Schuylkill, Mine Hill, Schuylkill Valley, Phila
Btock subscription, $38,040. The balance sheet gives on the credit side delphia GermantownLittle
& Norristown, Philadelphia & Chester, and some
781,120 as Phila. & Reading loan account. Net earn, in 1883-84. $99. minor roads; also the
North
Pennsylvania Railroad and Delaware
01; in 1884-85, $121,537. Interest on debt, $115,476.
& Bound Brook, forming the line from Philadelphia to New York. In
„ P eterb o ro u gh .—Owns from Wilton to Greenfield, N. H., 11 miles, May, 1883, the Central of New Jersey was leased, including the leased
Completed Jan. 1, 1874, and leased by Nashua & Lowell Railroad
of tuat company in Pennsylvania. The fiscal year en ds Novemfor 20 years from 1873 at 6 per cent on cost of the road. Edward b6r 30. Tn© annual election is held early in January.
Spalding, President, Nashua, N. H.
The Philadelphia & Reading Coal & Iron Company is a corporation
Petersbu rg. -Petersburg, Va., to Weldon, N. C., 63 miles. In May formed (Dec. 12,1871) for the purpose of owning and working the ex
1877, a receiver was appointed, but steps were taken by second mort- tensive coalproperties of this company. The Phila. & Read. RR. C&. owns
age bondholders to prevent a sale, and reorganization was made with all the stock ($8,000,000) of the Coal & IroD Company.
The Phila. & Read. RR. and the Iron Company were in the hands of
323,500 preferred stock and $1,000,700 common stock. $440,000 Class
“ A ” bonds are still in hands of Central Trust Co., of which $350,000 are receivers from May, 1880, to May, 1883. Again in June, 1884, receivers
reserved to retire old 1st mortgage 8s. In 1883-84, gross earnings, were appointed.
Stock and B onds .—The preferred stock is of small amount, and did
$149,497; in 1884-85, gross, $345,128; net, $157,095.
—(V. 40, p. 29; V. 42, p. 9 2 .)
not receive any dividends from 1880 till 1884, when 21 per cent for
dividends was voted, contingent on the negotiation of the collateral
P h ila d e lp h ia Sc B a ltim o re C entral.—Philadelphia to West back
loan. The dividends paid on Philadelphia & Reading stock from
Chester, 26 miles; Westchester Junction to Octoraro Md., 46 miles trust
1870 to 1875, inclusive, were 10 per cent each year; in 1876 2 ^ per cent
leased Chester Creek Railroad, 7 miles; total operated, 79 miles. This was
paid
and nothing since.
was a consolidation, Oct., 1881, of the Philadelphia & Baltimore Cen
The range of P. & R. stock yearlyin Philadelphia since 1875 has been:
tral and the Westchester & Philadelphia railroads. Of the new stock
in
l8
7
6
,
l
a ^ ; in 1877, lO ^ O H ; in 1878, 113s@19%; in 1879
Philadelphia Wilmington & Baltimore RR. holds nearly all. In 1884-85 11%@3758S; ^in
1880, 6%®36ifl; in 1881, 2538®374i; in 1882,231«®
^ ^ «a n iin g s , $181,799. In 1883-84, net earnings, $140,066; deficit,’ 336a; m 1883, 23^'3>30hi;
in 1884, S^^SO^; 1885, 6% ®127«; in 1886,
to Oct. 23, 9^a®19.
P h ila d e lp h ia Sc E rie .—Owns from Sunbury to Erie, 287 miles.
The bonds in the table above are arranged with the mortgage bonds
Formerly Sunbury & Erie RR. It was leased to Pennsylvania RR. for placed first, then the plain debentures, income bonds, scrip, &o. Under
999 years from Jan. 1, 1862, the lessees to pay 30 per cent of gross the sinking fund clause the right has been claimed by Mr. Gowen to pay
eoelpt as rental, but modified January 1, 1870, so that actual net off the general mortgage bonds at any time on proper notice. The
reoeipts are paid as rental. The general mortgage is guaranteed by the trustees of the general mortgage of 1874 hold the bonds of the Coal
Pennsylvania Railroad and the interest on the 6s is paid J. & J., on the & Iron Co., viz., $29,737,965 mortgage of 1874 and the Philadelphia &
5 per cents A. & O. The unpaid coupons are held bv the lessee for ad Reading Co. also holds the $10,000,000 mortgage of the Coal & Iron
vances, and by terms of adjustment in Jan., 1885, made with the Penna. Co. dated 1876.
Railroad Co. the P. & E. issued $1,500,000 debenture bonds at 4*2 per
The Deferred Income bonds have a claim for 6 per cent interest only
oent, secured by the overdue coupons held as collateral.
after 6 per cent has been paid on the stock. In January, 1883, the con
Gross earnings from January 1 to Aug. 31,1886, were $2,340.708 vertible adjustment scrip was issued, secured by $4,000,000 income
against $2,022,847 in 1885; net, $966,617, against $715,366;
’ mortgage (see terms in V. 36, p. 48), payable on 90 days’ notice any
Last report was in Ch ro nicle , V. 42, p. 270, giving the following •
time after July, 1885, and convertible into stock at par, and the new
consol, mortgage dated in 1882, due in 1922, was issued in adjustment
INCOME ACCOUNT.
of certain liabilities. In addition to the bonds above given there are
1882.
1883.
1884.
1885.
Receipts—
$
real
estate mortgages for about $2,900,000.
$
$
Net earnings.......... v 1,411,880
1,488,020
1,453.080
Operations , F inances , &c.—The Philadelphia & Reading Co. has
1,292,880
Rents.
3,586
4,892
9,120
8,471 been the largest of the anthracite coal carriers, and through its auxiliary,
the Philadelphia & Reading Coal & Iron Co., became a large owner of
Total incom e....
1,492,912
1,415,466
1,467,200
1,301,351 coal lands. Between 1870 and 1876 the P. & R. increased heavily its
JHsbursements—
$
$
$
capital account in the purchase of new properties, and after paying 10
$
Interest on debt___
1,062,270
1,062,270
1,0627270
985,620 per cent dividends for some years ceased to pay after Jan., 1876.
Interest on equipm’t
160,410
162,281
166,801
166,893
In May, 1880, the company suspended paymen , and on May 24
Extraordin’y expen.
10,000
27,000 receivers were appointed and held possession till May, 1883. But in
Miscellaneous..........
95,087
43,024
21,147
8,200 June, 1884, the company again went into receivers' hands.
In 1883 the P. & R. Co. leased the Central of New Jersey railroad
Total disbursem’ts
1,317,767
1,277,575
1,250,218
1,187,713 system, assuming all its liabilities and agreeing to pay 6 per cent a year
B alance....
......... sur.97,699 sur.215,337 sur.216,982 sur.113 638 on the stock. The charges on Central of N. J. lease were heavy and ooal
—(V. 40, p.183, 2 6 8 , V. 42, p.270.)
profits declined largely, so that on June 2, 1884, receivers of the Phila
P h ila d e lp h ia G erm a n tow n Sc C hestnut H i l l .—In Philadel- delphia & Reading RR. and Iron companies were appointed.
In Feb., 1886, the Drexel-Morgan syndicate of bankers was formed,
8® a *iom Germantown June., on Connecting Railway, to Chestnut Hill.
miles. From May 1,1883, leased for 30 years to the Pennsylvania with a proposed capital of $15,000,000, raised to meet reorganization
NR. Co., which guarantees 4Lj per cent on the bonds. Gross earnings in expenses. (See Ch ronicle , V. 42, p. 216 and p. 394.) The p an of re
1885, $108,162; operatmg expenses, $116,405.
8
organization approved by the “ reconstruction trustees” representing
bondholders and the company, and by the syndicate, was publi hed at
P h ila d e lp h ia G erm a n tow n Sc N o r r is to w n .—Philadelphia length
in the Ch ronicle of March 27, 1886, on p. 394, Ac., and after
Pa., to Norristown, Pa., 17 miles; Germantown Branch, 3 miles; Ply
the
agreement with Mr. Gowen in Sept., 1886, under whichMr. A. Corbin
mouth Railroad, 9 miles; total, 29 miles. The property was leased*
Nov. 10,1870, to Philadelphia & Reading Railroad for 999 years at a became President, an outline of the modified syndicate plan was given
rental of $269,623 and $8,000 yearly for organization expenses. Divi in V. 43, on p. 368.
For nine months from Dec. 1,1885, to Aug. 31, 1886, gross earnings
dends ef 12 per cent per annum are regularly paid.
(including Central of New Jersey) were $32,159,700 against $31,101,P h ila d e lp h ia N e w to w n Sc N ew Y o r k .—Owns from Erie Ave. 228 in 1884-5; net, $7,170,991, against $7,992,658 in 1884-5.
Philadelphia, to Newtown, Pa., 21 miles. Capital stock, $1,200,000
The annual report for the year ending Nov. 30,1885, was in Y. 42, p.
On November 10,1879, the Philadelphia & Reading Railroad purchased 61 and 91, and gave the income account as below, including the Central
12,012 shares (which gave control of the property), and guaranteed the of New Jersey leased lines. From this report it appears that the decrease
bonds; the road is operated in connection with the P. & R. system. in net receipts in 1884-85 was $890,305. The floating debt Nov. 30
Earnings in 1884-85, $73,928, expenses, $82,282; deficit, $8,353. 1885, was $25,070,177, agains<rt$23,517,623 the previous year, an'
In 1883-84, earnings were $75,942; expenses, $96,285; deficit, $20,342. crease of $1,552,554.
f
f
R AILR O AD STOCKS
O cto b er , 1886.
AND
BONDS.
7 7
Subscribers w i ll confer a great favor b y g iv in g Im m ediate notice o f a n y error discovered In tliese T a b les.
Bonds—^Princi
INTEREST OR DIVIDENDS.
DESCRIPTION.
pal,^When Dae.
Miles Date Size, or
Amount Rate per When Where Payable, and by Stocks—Last
of
Par Outstanding
For explanation of column headings, &c., see notes of
Dividend.
Whom.
Road. Bernds Value.
Cent. Payable
on first page of tables.
1873 $1,000
Phila. A R ead—(Coni.)—Improvement mort., gold
1876
1,000
Income mortgage, $ ..................... --- -- - -- - -- -- - 1882 500 &c.
Consol. M, of *82,1st ser., gold (for $80,000,000)
1883 500 &c.
do
2d series (for $80,000,000).......
1868 100 &o.
Debenture loan, coup................................................
1873 100 &c.
do
convertible, coupon........
1877 10 &c.
Scrip deben. and guar, bonds, currency.. . . . . . . . . .
Scrip general mort. and Perkiomen, 6, sterling..
1877 90 &c.
1882 50 &0.
Deferred Income bonds.................... — ...... ..........
Deferred income scrip.......... •v v iv v k A ;................
1883
Conv. adjustment scrip (for $4,000,000).............
1883
Car trust certificates............... .................................I
1884
do
do
.............................-.•--■(-•r-i —
1872-4 500 &c.
P. & R. Coal & I., purchase moneymort. bonds...;
1,000
1872
do
debenture loan...........................
39
100
Philadelphia A Trenton—Stock. ...........- - - - - - .........
407
50
Philadelphia Wilmington A Baltimore—Stock.........
1,000
1867
Plain bonds, loan.................. ....................................
1872-4 1,000
do
do ........................................................
1875
1.000
do
d o ........................................................
1880
do
do .......................................................
1,000
30 1886
Piedmont A Cumberland—1st m o r t....,....................
1883
1,000
Pine Creek.—1st mort., guar.......................................
78 1882
Pittsb. Oleve. A Toledo—1st mortg., gold, int. guar..
1,000
200 1868
Pitts. O. A St. L.—1st M., consol., reg. and coup........
1,000
200 1873
2d consol, mortgage..................................................
1,000
1st mort., Steub. <&Ind., extend, in 1884, reg....... 125 1864
1,000
33 1864
Col. & Newark Division bonds.................................
Holliday’s CoveRR. mortgage bonds....................
1.ÖÖ0
Pittsb. A Connellsville.—1st mortgage....................... 149 1868
10 1859 100 &c.
1st mortgage Turtle Creek division.......................
£200
149
1876
Consol, mort., guar. B. & O. (s. f. £7,200 pr. y r.)..
2 d oonsol. mortg., gold (pledged for B.& O. bonds). 149 1885 100 &o.
$9,364,000
3.478.000
?*
4,179,329
2,201,052
i g662,300
7,515,400
7
562,019
6
1,791,720
6
24,612,850
6
955,240
6
3,072,730
6
1.600.000
6
966.000
6
12,338.000
6 &7
1.117.000
7
1,259,100
21«
4
11,819,350
1,000,000
6
6
700.000
800.000
6
5
1,000,000
650.000
5
3.500.000
6
6
2.400.000
6.863.000
7
2.500.000
7
3.000.
000 5
134.000
7
6
120.000
4.000.
000 7
6
326,600
6.321.000
g
10,000,000
5 g*
g.
A.
J.
M.
F.
& O. Philadelphia & London.
<fe D. Last paid Dec., 1883
& N. Last paid May, 1884
& A. Last paid Feb., 1884
& J. Last paid Jan., 1884
& J. Last paid Jan., 1884
& J. Last paid Jan., 1884
& J. Philadelphia & London.
Nothing ever paid.
J. & J.
Last paid Jan., 1884.
Various Philadelphia, Office.
M. & S. Last paid March, 1884.
Philadelphia, Office.
Q.—J.
J. & J. Phil’delphia, Co.’s Office
A. & O.
do
do
A. & O.
do
do
A. & O.
do
do
T. & D.
do
do
F. & A.
New York.
J. & D. Phila. P. & R. RR. Co.
New York.
A. & O.
F. & A. Phila., Pa., RR. Office,
do
do
A. & O.
J. & J. N. Y., Nat. City Bank.
J. & J. Phila., Pa. RR. Office.
do
do
F. & A.
J. & J. Balt., Balt. & Ohio RR.
F. & A. Pittsb., First Nat. Bank
I. & J. London. J.S.Morgan&Co
New York Agency.
F. & A.
Oct. 1, 1897
Deo. 1, 1896
May 1, 1922
Feb. 1, 1933
July 1, 1893
Jan. 1, 1893
July, 1877-84
July, 1882-85
Irredeemable.
Jan. 1, 1888
1892 to 1894
1 »Q9
Oct. 10. 1886
July 1, 1880
April, 1887
Oct. 1. 1892
A p r ili. 1900
June, 1 910
Aug. 1, 1911
Deo. 1932
Oot. 1, 1922
Aug. 1, 1900
April 1, 1913
Jan. 1,1914
Jan. 1,1890
Feb. 1,1893
July, 1898
Aug. 1, 1889
Jan. 1, 1926
Feb. 1, 1920
cluding th< Steubenville & Indiana and the Pan Handle roads. This com
GROSS AND NET RECEIPTS.
pany is controlled by the Penn. Company, through the ownership of a
1884-85.
1883-84.
1882-83.
Gross r e c e i p t s . . . . . . . . . . . . . . . . $44,643,966 $47,450,848 $46,836,786 majority of its stocK. The P. C. & St. L. also has leases of the Little Miami
34,054,314 31,450,943 and its dependencies. Common stock, $2,508,000; first pref. $2,929,200;
Gross expenses.......................... 32,015,069
second preferred, $3,000,000; par value of shares, $50. Authorized
Net earnings............... ....$1 2 ,6 2 8 ,89 7 $13,396,534 $15,385,842 amount of 1st mort. $10,000,000, of which $3,137,000 reserved.
The report for the year 1885, in V. 42, p. 547, said that the tonnage
The income account was briefly as follow s:
transported was 4,066,386 tons, against 3,630,919 tons in 1884. an
INCOME ACCOUNT.
increase of 435,467 tons, being entirely in through trafflo. and mainly
1884-85.
1883-84.
Net receipts, both companies............................ $12,628,897 t$13,519,201 in lumber, coke, ore, provisions, agricultural products and miscellaneous
manufactures. The coke trafflo shows an increase of about 48 per cent,
From this deduct: For the Railroad Com panyDebit balance renewal fund..............................
$ ............
$42,208 or 63,720 tons. The decrease in coal tonnage was due to the falling off
Debit balance, profit and loss........ .................
82,430
38,236 in the Pittsburg local traffic, caused by the substitution of natural gas
State tax on capital stock................................
18,898
42,221 for fuel in place of coal. There was an increase in freight earnings of
$37,407. The average rate received per ton per mile was 5 3-10 mills,
Ail rentals and full interest on alll outstand
15,609,499 as compared with 6 3-10 mills for the previous year. There were carried
ing obligations, including floating debt....... 16,184,453
1,261,427 passengers, as compared with 1,323,074 in 1884, the loss
Deduct: For the Coal & Iron Co.:
being in local travel. There was a decrease of $106,575 in passenger
Full interest on all outstanding obligations
earnings,
of which the largest proportion was upon the same trafflo.
other than those held by the Railroad C o ...
940,997
1,142,286
Gross earnings from Jan. 1 to July 31 were $2,478,319 in 1886, against
$2,213,549
in 1885; net, $812,591, against $809,165.
.
$17,226,778 $16,874,453
Comparative statistics for four years are as follows:
Balance of both companies......................... def.$4,597,881 df. $3,355,251
1882.
1883.
1884.
1885.
t The slight difference from the figures above is due to miscel’s rec’pits.
gross earnings. 4,214,923
4,623,740
4,045,257 4,033,623
—(V.40>, p .2 9 ,5 3 , 74, 9 1 , 93, 110, 120, 144. 183,214, 241,270,281, Total
2,681,633
Op.
exp.
and
taxes..
2,831,000
3,087,465
2,731,960
305, 364, 393, 394, 426,454,481,508,542,569, 585,626, 653,685; V. 41,
p. 24.50,134,160, 216, 242, 273, 307, 331, 357, 393,421,446, 473. 496,
1,536,275
1.313.297
1.351.990
529,586,654, 689 V. 42, p. 23, 61, 9 1 , 94,157, 216, 234,272, 304, 339, P.o.of op.ex.to cam ’s 1.383.923
67-53
66-48
67-17
66-77
365, 393, 394, 431, 462, 464, 488, 519, 549, 604, 632, 675, 694, 728; V.
INCOME ACCOUNT.*
43, p. 23,102.103,131,133, 245,275, 368, 399, 431, 459.)
1884.
1885
1882.
1883.
P h ila d e lp h ia Sc T r e n to n .—Owns from Kensington, Pa., to Mor
<c
$
$
Receipts—
$
risville, Pa., 26 miles and Tioga Branch, 1 m ile; leased—Trenton Bridge
1.313.297
1.351.990
1.383.923
1,536,275
Connecting Railroad, 7 miles, and Frankford & Holmesburg Railroad, 4
4,624
4,835
b
19,636
8,784
Rentals
and
interest
miles; total owned and leased, 39 miles. On Dec. 1, 1871, it was Net from l’sed roads.
378,330
423,531
609,271
401,132
leased with the United Companies of N. J. to the Penn. RR., at 10 per
589
86,521
...............
Miscellaneous............
cent on stock, and is operated as a part of its New York division.
P h ila d e lp h ia W ilm in g to n Sc B a ltim o r e .—Mileage as follows:
Philadelphia Wilmington & Baltimore RR., 122 miles; Philadelphia*
Baltimore Central, 7 9 ; Delaware RR., 100; Queen Anne & Kent RR.,
26; Delaware & Chesapeake, 55; Cambridge & Seaford RR., 27; Del.
Md. & Va. RR., 98 m iles; total operated, 506 miles. Owns over half the
stock of the Phil. & Balt. Cent.
This road on the main route, Philadelphia to Baltimore, has been
rofitable, paying regular dividends, with a considerable surplus. From
870 dividends of 8 per cent on the stock have been paid each year. In
April, 1881, nearly the whole stock was purchased and is held by Penn,
RR. Co. For four years the income account was as follow s:
P
INCOME ACCOUNT.
2,099,351
1882.
Disbursements—
$
825,447
Rentals paid.............
851,990
Interest on fund, d’bti
222,985
Other interest....... 105,000
Int.on C.&M.Val.bds.
Loss on St.L.V.&T.H.
“ Cin.&Mus. V. RR.
Miscellaneous..........
1,946,191
1883.
$
856,345
714,490
231,216
105,000
82,534
10,418
1,741,452
1884.
$
849,920
646,990
183,850
105,000
33,011
42,003
27,888
1,735,744
1885.
$
830,881
646,990
178,615
52,500
66,917
2,000,033
1,888,662
1,775,903
Total.................... 2,005,422
1884-5.
Balance..................... sur. 93,929 def.53,842 def.147,210 def. 40,159
$
5,678,588
* Exclusive of Col. Chic. & Ind. Cent.
GENERAL BALANCE AT CLOSE OP EACH FISCAL TE AR .
1,675,897
1,855,178 1,788,816
109,348
133,496
122,373
1885.
1884.
1882.
1883,
Assets—
$
$
1,785,245 1,988,674
1,911,189 RR., equipment, &o.. 19,995,963 20,605,107 20,798,277 20,870,740
Total income.......... 1,854,856
$
Disbursements—
$
1,085,967
$
$
1,085,967
Stocks owned, cost..
57,299
1,085,967
285,329
331,338
386,634 Bonds owned, c o s t ..
Rentals paid................*.
331,417
23,750
23,750
283,000
200,000 Betterm’tstol’s’d r’ds
211,778
201,485
Interest on debt............
180,284
38,17
21,744
20,318
656,777
48,234
47,682
47,686 Bills & accts. receiv..
Taxes..............................
54,367
1,119,287
1,107,502
1,036,391
1,001,034
943,604
943,604
945,548 Materials, fuel,& o...
Dividends, 8 p e r c t ....
943,604
292,014
389,995
474,337
832,930
150,133
14,543
11,674 Cash on hand............
Miscellaneous...............
13,170
276,134
258,918
317,725
437,707
64,639
64,639
64,639
64,639
Cin. Str. Conn. R y ...
1,591,542 Profit & loss balance
1,639,078 1,538,653
Total disbursem’ts... 1,522,842
396,124
428,482
232,415
282,465
146,167
450,016
319,647
Balance, surplus;.........
332,014
Total assets......... 23,611,814 23,908,010 24,060,720 24,214,263
—(V. 42, p. 126.)
$
P ied m o n t Sc C u m berlan d.—Road extends from Piedmont, West
Liabilities—
2,503,000
2,508,000
2,508,000
2,508,000
Va., to Cumberland, Md., 30 miles. It connects the West Va. Central & Stock, common.........
5,929,200
5,929,200
5,929,200
5,929,200
Pittsburg RR. with the Pennsylvania RR. system, and has a traffic con Stock, preferred.......
tract from the Pennsylvania Railroad. Stephen B. Elkins, President.
Bonds......................... 12,617,000 12,617,000 12,617,000 12,617,000
2,013,724
1,451,050
1,692,961
1,212,134
P in e Creels.—Stokesdale Junction to Newberry Junction, Pa., on the All other dues* acc’ts
845,826
845,826
847,360
847,390
Corning C. & A. Road, 75 miles. Formerly Jersey Shore Pine Creek & Bufl- Due Little Miami RR.
184,601
RR. It is operated by the Fall Brook Coal Co., and forms a connection DueC. C.& I.C .R R ..
262,500
262,500
262,500
262,500
between Philadelphia & Reading lines and N. Y. Central, and bonds are Cin. Street Conmbds.
38,018
447,144
50,989
50,989
'uaranteed by these companies and the Coming C. & A., on the condi- Miscellaneous............
ion that guarantors shall advance money for interest if needed and
Total liabilities . 23,611,814 23,908,010 24,060,720 24,214,268
take 2d mortgage bonds for such advances. Stock $1,000,000. Stock
and bonds were largely held by Mr. W .H . Vanderbilt. Gross earnings in - ( V . 40, p. 286, 356, 6 5 1 ; V. 42, p. 366, 5 4 7 ; V. 43, p. 245.)
1885 were $538,326; net, $167,564; rent of road, $161,498; surplus,
P ittsb u rg Sc C o n n e llsv ille.—Owns from Pittsburg, _ P®-> to
$6,066. Gross in 1884, $460,263; net, $94,374. (V. 41, p. 613, 689.)
P ittsb u rg C leveland & T o led o . —(See Map o f Baltimore A Ohio.) Mt. Savage June., Md., 147 miles; branch, 2 miles ¡leasedlrnes, ^ mues,
^
_From Newcastle Junction, Pa., o Akron, O., 77 miles. Stock $3,000,- total, 171 miles. Leased to the Balt. <fe Ohio Railroad
000, par $50. Leasedin July, 1884, for 99 years, to Pittsburg & Western, 1876. The city of Baltimore transferred its interest ™ the Balti
more
Railroad
for
$1,000,000,
and
the
consolidated
sterling
mort
which is controlled by Baltimore & Ohio, and the Baltimore & Ohio
Company guarantees interest on the P. C. & T. bonds (see terms in V. gage was made and guaranteed by thei Baltimore & Ohio, o f which
enough
is
reserved
to
retire
the
PrJ°f
bpnds.
It
is
operat^
as
the
39, p. 607.) In the year ending June 30, 1886, gross earnings were
$406,825; net, $132,462; interest, rentals, &c., $260,802; deficit, Pittsburg Division of the Baltimore * Ohio RR. In 1884 the Balt. &
Ohio
issued
its
bonds
for
$10,000,000
secured
by
pledge
of
the
above
2d
$128,340. (V. 40. p. 53.)
P ittsb u rg C in cin n ati Sc St. L o u is.—Owns from Pittsburg, Pa., consolidated mortgage of the Pittsburg & Connellsville RR. Stock is
$1,944.400.
In
1881-82
net
earnings
were
$1,542,125;
in
1882-83,
to Columbus, Ohio, 193 n iles; branch to Cadiz, Ohio, 8 miles; total, 201 * l ’ Arro’ nnA .
1009.01 SCI 04.2.132.
miles. This was a consolidation of several companies, May 1, 1868, in
1881-2.
$
Gross earnings............ 5,428,092
Receipts—
Net earnings................. 1,751,598
Other receipts...............
103,258
f
1882-3.
$
5,741,672
1883-4.
$
5,820,323
78
ENTESTOKS’
SUPPLEM ENl
[V o l . XLIII
Subscribers w ill confer a great favor by giv in g im m ediate notice o f any error discovered in these Tables.
DESCRIPTION.
Bonds—Princi
INTEREST OR DIVIDENDS.
Miles Date Size, or Amount
pal,When Due.
Par
For explanation of column headings, «fee., see notes of
of
Rate per When Where Payable, and by Stocks—Last
Outstanding
on first page of tables.
Road. Bonds Value.
Cent. Payable
Whom.
Dividend.
Pittsburg Ft. Wayne <£ Chicago—Stoch, guar............ 468
$100 $19.714,286
Q .-J . N. Y., Winslow, L. <&Co. Oct. 5, 1886
1*
Special improvement stoch, guaranteed................
100 10,776,672
468 1871
do
do
1%
Q .-J .
Oct. 1, 1886
1st mort. (series A to F) >Bonds all coupon, but 468 1862 500 «fee.
5,250,000
7
Various
do
do
July 1, 1912
2d do (series G to M) > may be made payable 468 1862 500 «feo.
5,160,000
7
Various
do
do
July 1, 1912
3d mortgage............... . ) to order.
468 1862 500 «fee.
2,000,000
7
A. & O
do
do
July 1, 1912
1,000
Pittsburg, Ft. Wayne & Chic, construction bonds.
1857
100.000
7
J. <& J.
do
do
Jan. 1. 1887
1,000
Pittsburg Junction—1st M., gold.................................
1,440,000
i k 1881
J.
«fe
J.
New
York
<
&
Pittsburg.
July, 1922
6 g50
Pittsburg <&Lake E rie—Stoch......................................
70
2,050,000
10 s.
1883
1,000
1st mortgage, gold, coupon..................... . .............
70 1878
2,000,000
6 g. J. «fe J. N. Y., Phila. <fe Pittsb. July 1. 1928
50
Pittsburg McK. «ß Youghiogeny—Consol, stk., guar .
62 1884
3,000,000
1^
July 1, 1885
Q .-J .
1st mortg., gu a r........................................................
1882
1,000
2,250,000
6
J. «fe J. N.Y., Union Trust Co. July 1, 1932
1,000
2d mortg......................................................................
62 1884
750,000
6
J. «fe J.
do
do
July 1, 1934
__
Pittsburg Painesville <£Fairport—1st mortgage___
62 1886
1,000,000
5
J. «fe J.
1916
Piitso. Va. (É Charleston—1st mortgage, gold............
1,000
70 1882
3 000,000
5
A. <& O.
Philadelphia.
April 1, 1912
Pittsburg «é Western.—1st mort., g. (for $6,000,000) 120 1881
1,000
4,125,000
6 g. J. «fe J. Last paid Jan., 1885.
July 1, 1921
1st mortgage. Pitts. Brad. & Buff............................ 103 1881
1,000
800,000
6
A. <fe 0. Last paid Oct., 1884.
April 1, 1911
Consol, mortgage........................................................
363,400
1911
....
Port Huron <&Northwestern—1st mortgage.......... .
218 Í879
755,000
T
A. <fe O. N. Y., First Nat. Bann. Oct. 1, 1899
....
Consolidated mortgage.................. ; ......................... 218 1882
920,000
6
M. «fe S.
do
do
Mar.
1, 1922
....
Equipment mortgage___ « . . . ................................... 218 1881
138,000
7
F. <fe A.
Port Jervis <6Monticello—Stoch...................................
....
24
724,276
Port Royal <&Augusta—1st mortgage......................... 112 1878 100 «fee.
250,000
”6
J. & J. N. Y., 252 Broadway. Jan. 1, 1899
__
2d mort., endorsed by Central G a ..........................
112 1882
6
112,000
1898
....
Augusta & Knoxville mortgage...............................
68 1880
630,000
7
J. «fe J. N. Y., Nat. City Bank. July 1, 1900
General mortgage income bonds, c o u p ..................
1878 100 «fee.
1,500,000
6
J. «fe J. N. Y., 252 Broadway. Jan. 1, 1899
Portland, dt Ogdensb.—1st mort., g o ld .......................
60 1870 500 «fee.
800,000
6 g. J. «fe J. Last paid July, 1883.
Jan., 1900
Consol, mortgage (for $3,300,000)..................... .
94 1871 100 «fee.
2,377,000
6 g. M. «fe N. Last paid May, 1883.
Nov., 1901
__
__
Portland <&Rochester—Stoch ($ 6 0 0 ,0 0 0 )................
53
588,000
2
Portland.
July, 1885
Portland Saco <6Portsmouth—Stoch...........................
100
51
1,500.000
3
J. & J.
Boston, Office.
July 15,1886
Portland <£ Willamette Valley—1st mort., g o l d .......
1,000
29 Í 836
400,000
7 g. J. «fe J, N.Y., Farm. L.'«fe Tr. Co. Jan. 1, 1906
Portsmouth <&Dover—Stoch.........................................
11
100
769.000
3
J. «fe J. Portsmouth, Treas,
July 1, 1886
Portsmouth 01. Falls <& Conway—Stock......................
73
100
1,150,300
3
J. «fe J. Bost., Eastern RR. Co. July 15, 1373
1st mortgage..............................................................
73 1877 500 «fee.
1,000,000
4*3 J. «fe D.
do
do
July 2, 1937
P ittsb u rg F o rt W a y n e & C hicago. Owns from Pittsburg, Pa., ?i<?<lUmed. Tlie mortgage was executed Oct. 1, 1881, to the Mercanto Chicago, lu. 468 miles. The company made default Oct. 1,1857, and tlle Trust Co., covering the proiected lines. In July, 1884, leased the
again in 1859,»and was foreclosed Oct. 24,1861, and reorganized under Pittsb. Cleveland & Toledo RR., giving line to Akron, O. Operated in
this title Feb. 26,1862. Oh June 27,1869, the company l eased all its the Baltimore <fe Ohio interest. Stock, $7,250,000. In addition to above
road and property to the Penn. RR. at a rental equivalent to interest, bonds, there are about $300,000 other issues, for which 1st morgt1
sinhing fund of debt, and 7 per cent on $19,714,286 stoch, which was bonds are reserved. Guarantees, with Baltimore <fe Ohio, the Pittsburg
increased at that time from $11,500,000. The lease was transferred Junction bonds. On March 23, 1885, on application of the mort
subsequently to the Pennsylvania Company. The lessees are to heep gage trustees, James Callery and J. W. Chalfant of Pittsburg were
the road in repair and also pay taxes, expenses, &c. The rental and appointed receivers. In 1884-85 gross earnings, $844,793; net, $230,175,
interest charge is about $2,980,000 per year, and the profit to lessees In 1883-84, gross earnings, $685,035; net, $200,221. James Callery,
had been large; in 1884 and 1885, however, there was a loss to lessee. Pres., Pittsburg. (V. 40, p. 305, 394, 454: V. 43, p. 399.)
The Pitts. Ft. Wayne <fe Chic, leases the Newcastle <fc Beaver Val. and the
P o rt H u ro n Sc N orthw estern.—Port Huron to East Saginaw,
Lawrence roads, which in turn are leased again by the Pennsylvania Co. 91 miles; Saginaw Junction to Sand Beach, 58; Port Austin to Palms,
The first mortgage bonds are in six series lettered A to F inclusive, 35; Port Huron to Almont, 34; total, 218 miles. In 1884 gross earnings
of $875,000 each series, the interest on “ A” series being payable Jan. were $288,964; net earnings, $77,595; interest payments, $1 33,187. In
and July; on “ B” it is February and August; on “ C” it is March and 1885 gross, $297,762; net, $84,283; interest payments, $140,574.
September; on “ D” it is April and October; on “ E” it is May and Nov., John P. Sanborn, President, Port Huron, Mich.
and on “ F” it is June and December. The second mortgage is also in
P o rt J ervis Sc M o n tic ello .—Owns from Port Jervis, N. Y., to
six series of $860,000 each, lettered H to M inclusive (J omitted), and the Monticello, N. Y., 24 miles. Formerly the Monticello <fe Port Jervis
interest is payable Jan. and July on “ G” series, Feb. and Aug. on “ H,” RR., which was sold in foreclosure July 16, 1875, and reorganized
March and Sept, on “ I,” April and Oct. on “ K,” May and Nov. on “ L,” as the present Port Jervis & Monticello. Gross earnings in 1884-85,
and June and Dec. on “ M.” The bonds are coupon, but may be regis $20,530; net, $5,355; 1883-84, gross, $39,370; deficit, $15,528. The
tered payable to order. Of the 1st mortgage bonds, $1.337,500, and of stock ($724,276) was issued to the former holders of first mortgage
the 2 d mortgage $1,587,500, and $354,088 cash, were held in the sink bonds, of which bonds $50,000are still out. (V. 40, p. 653; V. 43, p. 309.)
ing funds Jan. 1, 1881. The special improvement stock is issued to
P o rt R o y a l Sc A u g u sta .—Owns from Port Royal, 8. C., to Augus
Pennsylvania RR. for improvements, &c., under article 16 of lease, ta, Ga.. 112 miles. Leased in Sept., 1883, the Augusta <fc Knoxville road,
which provides that the lessee may issue special bonds or stock, and Augusta, Ga., to Greenwood, 8. C., 68 miles, for 99 years, at 4 per cent
says: “ The said party of the second part shah guarantee the payment, on stock of $127,639, and assuming the bonded debt. Formerly Port
semi-annually or quarterly, thereon of such rate of interest as may be Royal Railroad. Defaulted Nov. 1,1873, and receiver appointed May 9,
agreed upon between the parties hereto, to be paid by the said party of 1875. Sold in foreclosure June 6,1878, and purchased for the bond
the second part to the holders thereof without deduction from the holders, who organized this company. The Georgia Railroad was en
rent hereinbefore reserved; and the said special stock, or bonds, or dorser on $500,000 of the old bonds. The stock is $750,000, and in
other securities, shall be issued only in respect to improvements of and June, 1881, a controlling interest was purchased by Central Georgia R R .
additions to the said railway which, and estimates and specifications parties. Gross earnings in 1883-84, $307,640; in 1884-85, $412,164;
of which, shall have been submitted to and approved by the said party net, in 1883-81, $25.590; in 1884-5, $58,148.
of the first part in writing.” * * *
P o rtla n d & O gdensburg.—Owns from Portland Me., to Fabyans,
It was proposed to change the terms of the lease so as to issue bonds 91 miles. It reaches the Vermont Division (now St. Johnsbury & Lake
to. the lessee instead of the special guaranteed stock, but this was not Champlain) by using 14 miles of the Boston Concord & Montreal RR.
consummated.
and a 3-mile link of its own. In 1876 the company made default on the
Operations and earnings for four years oast were as below; in the gross 1st mortgage interest and foreclosure proceedings were begun, but com
the net profits on leased lines are included, and in the net the earnings promise was made by giving notes for overdue coupons up to July, 1878.
paid to the C. & P. road are deducted.
Interest is not paid on the consolidated mortgage, of which the city of
Passenger Freight (ton)
Gross
Available Div’d Portland holds $1,350,000. The city of Portland owned a controlling
Years. Miles. Mileage.
Mileage.
Earnings.
Revenue, p. ct. interest in the stock, which is $1,052,186.
1882
468140,057,682 991,907,501 $10,957,133 $4,368,465
7
In March, 1884, a foreclosure suit was begun and receivers appointed
1 8 8 3 ..
.. 468 127,520,075
944,563,376 10,965,656 3,747,519
7 and power to issue $200,000 receiver’s certificates was given by the
1 8 8 4 ..
.. 468 110,639.940
907,951,237 9,204,314 2,907,465
7 Court. In June, 1885, a decree of foreclosure in six months was made,
1 8 8 5 ..
.. 468 134,613, ¡ 04
9 3,564,515 8,252,076
2,412,162
7 and a plan of reorganization was stated in V. 41, p. 421; also the plan
P ittsb u rg J u n c tio n .—From Monongahela River to Allegheny of 2d mortg. bondholders in V. 41 p. 466. Earnings for four years were:
River, Pittsburg, Pa., 4 fi miles, including side tracks and branches Years.
Miles.
Gross Eam ’gs. Net Eam ’trs.
Built under auspices of B. & O. and Pittsburg & Western, which compa 18818 2 .......................... 94
$354,173
$106,304
nies made an agreement to pay $2 for each car, and guaranteed (separ 188283.......................... 94
338.844
49,720
ately) a minimum o f $240,000 per annum. In 1885 gross earnings 1883- 84................................... 94
334,673
89,881
were $116,007 and net $100,674. Common stock is $960,000. Preferred 188485.......................... 89
361,993
99,157
stock, $480,000, owned entirely by Baltimore <fe Ohio RR.
-(V . 40, p. 121, 685: V. 41, p. 216, 393,421,466, 654; V. 42, p. 126,728;
P ittsb u rg & L a k e E rie .—Owns from Pittsburg, Pa. to Youngs Y. 43, p. 211.)
town, Ohio, 68 miles; branch line to Newcastle, Pa., 2 miles; total 70
P o rtla n d & R och ester.—Owns from Portland, Me., to Roches
miles. Leased from Jan. 1,1884, for 99 years, the Pittsburg McKeesport
& Youghiogheny R R , from Pittsburg to New Haven, Pa., 57 miles with ter, N. H., 53 miles. The old company was put in the hands of a
Receiver
February, 1877. Foreclosure suit was begun, but a settle
branches, 5 miles. Scrip certificates for $615,000, bearing 6 per cent
Interest and payable at will, are also outstanding. This company is ment was made in 1881 by which all the old stock and bonds were con
verted
into
the stock of tne new company. In Nov., 1885, a lease to the
managed in the interest of Lake Sh. & Mich. So.. Gross earn, in 1885
1,201,312; net, $394,407. In 1884 gross, $1,193,521; net, $384 294* Boston & Maine was made for 50 years. Gross earnings in 1883-84,
$183,808;
net,
$25,229. In 1884-85, gross, $181,900; net, $25,272.
ee report V. 42. p. 124. (Y. 40, p. 9 1 ; Y. 41, p. 3 0 7 ; V. 42) p. 124.)
P o rtla n d Saco & P o rtsm o u th .—Portland, Me., to Portsmouth,
P ittsb u rg M cK eesport dc Y o u g h io g h en y .—Owns fromPittsburgto New"Haven, Pa., 57 miles; branches, 5 miles; total, 62 miles N. H., 51 miles. It was leased May 4,1871, to the Eastern Railroad,
Road opened Nov., 1883, and leased to Pittsb. & Lake Erie RR. for 99 Mass., at 10 per cent on stock. Lease rental changed May 21, 1877
years, 6 per cent on the $3,000,000 stock and principal and interest of and now 6 per cent. The Boston <&Maine Railroad leased the Eastern
the bonds being guar. byP . & L. Erie and Lake Shore & M. So. Cos. the in 1884 with all its leased roads.
P o rtla n d & W illa m e tte V a lle y .—Line of road from Portland,
guarantees being endorsed on the share certificates and bonds Gross
earnings in 1885, $587,723; net, $320,270; paid interest and dividends Or., to Dundee, 28*3 miles, connecting with Oregonian Railroad, with
which
it has a freight contrat for 15 years. Stock, $150,000.
—(V9 403 ’ 763C)lt’ ^38,903‘ W< c - Quincy, President, Pittsburg, Pa!
P o rtsm o u th Sc D ov er.—Portsmouth, N. H., to Dover, N. H., 11
P ittsb u rg P a ln esv llle & F a irp o rt.—Owns from Fairport, O miles. Opened February 1, 1874, and leased for 50 years to Eastern
____ ¥•>
) Yrmnirst,own. Ct.. milna TUio Pofnoomii« a.
of New Hampshire at 6 per cent per annum on the stock. Operated
now bv Eastern (Mass.) Frank Jones, President, Portsmouth, N. H.
P o rtsm o u th Great F a lls Sc C on w ay .—Owns from Conway
Junction, Me., to North Conway, N. H., 73 miles. The Eastern Railroad
w
in Massachusetts has made a lease of the road for 60 years from Dec. 1,
, ; (V. 42, p. 272, 575, 694.)
1878, with a guaranteed rental of $45,000 a year, which pays 4*a per
P ittsb u rg V irg in ia & C h arleston .—From South Pittsburv P«
to Uniontown, Pa., 70 miles. The stock is $1,505,000. The bonds tmH cent on $1,000,000 bonds, and the stock is to receive the same dividends
$1,251,050 of the stock are owned by the Penn. RR. Dividends of $150 as the stock of the lessees. Total stock, $1,150,300, of which lessees
per share paid in March and September, 1885.
01 91 50 own $551,300.
P ou gh k eep sie H a rtfo rd Sc B o sto n .—Poughkeepsie, N. Y., to
P ittsb u rg Sc W e s te r n .—Owns from Alleghany City, Pa to New Boston Comers, 40 miles; Stissing to Pine Plains (track rental), 5 miles ;
Castle, Pa., 64 miles ; Callery Junction to Mt. Jewett, 137 miles • Duck total, 45 miles. The Pough. & East. RR. was sold in foreclosure M ayl5,
Rim Branch, 3 miles; Clarion Branch, 6 miles ; other branches 2 miles • 1875. This road was sold in foreclosure Jan. 26, ’84, under the 2d mort.,
total 212 miles. Leases P. C. «fe Tol.,New Castle Junction, p t f t r Y a b and again foreclosed in 1886 under a small 1st mort. to give a clear title
ley Junction, O., 77 miles, and uses 26 miles of Cl. Mt. V. <fc Del RR
to the property. (V. 38, p. 149.) In 1883 -84, gross earnings, $47,803;
Akron O., to Orville, O.; total, 315 miles. This was a consoUdation of net, $6,560. In 1884-85, gross. $43,050: net, $6,531. G. P. Pelton,
several roads dated June 15, ’81, and in ’83 Pitts. Brad. «&Buffido was President, Poughkeepsie, N. Y. (V. 42 p. 397.)
§
O CTOBER, 1886.]
R A IL R O A D
STOCKS
AND
BONDS
79
Subscribers w ill confer a great favor by g iv in g im m ediate notice o f any error discovered in these Table»»
Bonds—Princi
INTEREST OR DIVIDENDS.
DESCRIPTION.
pal,When Dne.
Miles Date Size, or
Amount
Stocks—Last
Where
Payable,
and
by
When
Rate
per
Par
of
of
For explanation of column headings, &c., see notes
Outstanding
Dividend.
Whom.
Cent. Payable
Road. Bonds Value.
on first page of tables.
1905
7
$16.000
42 1875 $.->.
Poughkeepsie H artford A Boston—1st mort..............
J. & J. Providence,Am. Nat.Bk July 1, 1892
7
500,000
1,000
23 1872
Providence A Spring/.—1st M. ^end. by City Prov.).
July 1, 1886
Providence, Office.
J. & J.
3
2,500,000
100
51
Providence A Worcester—Stock..................................
1897
A. & 0. Providence R. I.H.T.Co.
6
1.242.000
1877
BondLs...........................................................................
1.873.000
'98
Raleigh A Augusta—Stock ($1,000,000 pref.)..........
Jan.,
1898
Phila.,Pa.,<&
Ral’gh,N.C.
J.
&
"
j.
~8
1,000,000
1,000
97 1873
Raleigh A Gaston^-1st mortgage............
Mch. 1, 1912
Phila., Co.’s Office.
M. <fe S.
5
650,000
40 1862 1Ó0&C.
Reading A Columbia—1st m o r t, coup, (extended)..
June
1,1
90 4
do
do
J. & D.
5
350,000
1.000
40 1864
2d mortgage, coupon (extended in 1884)...............
Dec. 1, 1917
do
do
J. & D.
6
1,000,000
1,000
1877
July
1,
1893
do
do
J. & J.
7
350,000
15 1873 10Ó &c.
Lancaster ¿ Reading, 1st mortgage.......................
J. & J. N. Y., Nat. B’k Com’rce. July 1, 1886
4
100 10,000,000
193
Rensselaer A Saratoga—Stock........................- ...........
M & N. N.Y., Del.ife H.Canal Co. Nov., 1921
7
1,925,000
1,000
79 1871
1st mortgage, consolidated (for $2,000,000)........
July 1, 1920
J.
<fe J. Last paid Jan., 1883.
4,925,000
1,000
7
g.
Richmond A Alleghany—1st mortgage, gold............ 252 1880
M. & N. Last paid Nov., 1882. May 1, 1916
2,964,000
1,000
252 1881
Second mortgage, gold ($4,000,000).....................
1890 to 1895
I
®
'
393,000
Car trust certificates.................................................
N. Y., Met. Nat. Bk. Aug. 15, 1882
Q —F.
2
5,000,000
100
756
Richmond & DanviUe—Stook................................
May 1, 1890
N.
Y.,
Central
Trust
Co.
M.
Si
N.
6
627,500
141 1867 100 <fcc.
3d mortgage, (consol, of 1867) coup, or reg........
1915
do
do
4,785,000
6 g. J. & J.
1,000
General mort., gold (for $6,000,000).................... 141 1874
April
1, 1927
do
do
A.
&
0.
6
8
3,969.000
1,000
1882
Debenture mortgage bonds, cumulative................
1936
do
do
A,
&
O.
5
g.
1,000
1886
(?)
New 2d mort., gold.................................................-■
1888
N.
Y.,
Cent.
Trust
Co.
A.
&
O.
8
500,000
1,000
48 1868
Piedmont branch, 1st mortgage.............................
1902
Richmond.
A. «S’ O.
6
500,000
1,000
29 1873
Northwestern, N. C., 1st mort., guar......................
1894
do
J. & J.
8
400,000
1,000
38 1873
Richmond York River & Ches., 1st mortgage........
1900
do
M.
&
N.
6
400,000
1,000
1880
38
do
do
2d mortgage.’. .. . .
1885
London.
6 g. J. <fc J.
57,327
Rich'd Fredericksburg A Potomac—Bonds, ster.......
1895-’99 1902
Richmond, Office.
309,594 5, 6 ,7 J. & J.
Dollar loan... — ............. . . . . . .................... . •- —
1890
J. & J. Phil. .Townsend W .& Co.
8
150,000
Coupon bonds of 1 8 9 0 ...... . ..... .............................
1901
Richmond, Office.
M.
&
N.
6
300,000
Coupon bonds of 1 9 0 1 ............................. - ............ .
July
1, 1886
Richmond,
Office.
2*3 J. & J.
1,000,000
100
Richmond & Petersburg—Stools.............................--1886
do
do
A. <& O.
8
50,000
1,000
1870
1st mortgage, coupon..............................................
May
1,
1915
do
do
6 & 7 M. & N.
290,000
1875 500 &c.
Consol, mortgage ($50,000 are 7s). . . . . . . . . .........
15,000,000
100
Richmond At West Pt. Ter. R. AW . Co.—Stock..........
Jan.,
i8
87
*7* Ij. & ’ j . N.Y. Central Trust Co.
2,250,000
5,000
1885
Trust notes, secured by collateral....................
By ownership of a majority of the stock of the Richmond & West
P rovidence Sc S p r in g fie ld .—Providence, R. I., to Pascoag, 23
miles. It was proposeato extend the road to Springfield, Mass., 80 miles. Point Terminal Railway & Warehouse Company, the Richmond & Dan
Stock is $516,850. In 1884-85, gross earnings. $92,700; net, $45,545; ville Railroad Company indirectly controlled and operated the following
interest, $36,163. In 1883-84, gross earnmgs, $93,240; net, $34,354, lines of railway: Charlotte Columbia & Augusta, 191 miles; Columbia
<te Greenville, 197 miles; Chester »Sc Lenoir RR. (n. g.), 90 miles; Chester
interest, $34,308.
& Cheraw (n. g.). 29 miles; AtlanticTenn. & Ohio RR., 47 miles; Laurens
Providence Sc W o rce ste r.—Owns from Providence, R. I., to Railway 31 miles; Knoxville <Sc Augusta RR,, 16 xhiles; Richm. <Sc Meek.
Worcester, Mass., 44 miles; branches, 7 miles; total operated, 51 miles. Railroad, 31 miles; Spartanburg Union <Sc Columbia 68 miles; Northeast
Notes outstanding are $441,300. Operations for three years w ere:
ern of Georgia, 61 miles; Western North Carblina Railroad, 274 miles;
Passenger
Freight (ton) Gross
Net
Div. Asheville <Sc Spartanburg, 50 miles; Virginia Midland Railway, 4 0 5 :
Mileage.
Mileage.
Income.
Income, p. c. miles; Georgia Pacific, 3 l3 miles; total miles thus indirectly controlled
Tears. Miles.
20.585,077
23,174,410 $1,158,394 $322,330
6 through R. & W. Pt. Ter’l R. W. Co., 1,808 miles; grand total of miles
188283 .. 66
20,757,058
21,596,079 1,136,633
274,832
6 directly and Indirectly controlled by Richm. & Danville RR. Co., 2,633.
1883- 8 4 .. 51
20,429,299
24,161,818
1,077,166
321,508
6 In April, 1886, negotiations were in progress tor an exchange of part
18848 5 .. 51
of the Terminal Co.’s stock held by R. & D , for certain securities held
—(V .41 ,p . 5 5 5 .)
.
R a le ig h Sc A u g u sta .—Owns from Raleigh, N.C., to Hamlet, N. C., by the Terminal Co., which was checked by an injunction; leases to R.
98 miles; Hamlet to Gibson, 10 miles; total, 108 miles. Formerly & D were made of the most important roads, as above mentioned.
O r g a n i z a t i o n , L b a s e s . Ace.— The Richmond <fc Danville RR. Co. was
Chatham Railroad, and is controlled by Raleigh & Gaston. Earnings
chartered March 9,1847. Die Piedmont RR. is virtually owned and the
1883-84. $240,594; net, $20,641.
R a le ig h Sz G aston .—From Raleigh to Weldon, N. C.. 98 miles, Northwestern North Carolina is also owned. The Rich. York R. & Chesa
and Louisburg branch 10 miles. The stock is $1,500,000. In Oct., 81, peake is leased in perpetuity; the terms of the North Carolina RR.
3 perct. dividend paid, 3 iuOct., 1885, and 2 m April. ’ 86. John M. Rob and the Atlanta & Charlotte Air lin e leases will be found under the
inson, Pres’t, Baltimore. Gross earnings for fourteen months ending names of those companies. The Richmond & West Point Terminal Rail
way <fc Warehouse Co. (see title of that company belo v) is an auxiliary
Dec. 31, 1885, $542,283; net, $168,148.
corporation in which the Richmond <fc Danville holds a majority
R ea d in g Sc C o lu m b ia .—Owns from Columbia to Sinking Springs, ($7 510,000) of the stock. The Richmond & Danville Extension Co.
Pa.. 40 nines; branches, 8 miles; Lancaster & Reading Railroad, was organized to build Georgia Pacific RR., and large advances were
leased, 15 miles; total operated, 63 miles. Stock, $958,268. The made to it by the Richmond & West Point Terminal Co.
road is controlled and operated by Philadelphia & Reading, but
S t o c k a n d B o n d s .— In April, 1882, $1,000,000 stock was issued for
accounts kept separate. The first mort. 7 per cent bonds due 188- $5,000 000 of the Terminal Co. stock. The capital stock is $5,000,000,
were extended 30 years at 5 per cent, and the 2d 7s
^884 were ex and the first dividend (3 per cent) was paid in January, 1881. The
tended. twenty years at 5 per cent. Gross earnmgs in 1884-85, $356,- total dividends in 1881 were 5 per cent; in 1882, 7 per cent; none since.
108; net earnings, $76,362; 1883-84, gross, $394,819; net, $o3,838.
The stock was listed on the New York Board in Oct., 1881. The high
R en sselaer Sc Saratoga.—Owns from Albany to Lake Cham est and lowest prices since then have been : In 1881 (3 months), 99
plain, N. Y., 79 miles; Troy to Waterford Junction, N. Y , 6 miles, 171: in 1882, 52@250; in 1883. 47@72 ; in 1884, 32 *61 m 1885, 44^8
Whitehall, N.Y., to Castleton, Vt., 14 miles; Eagle Bridge to Rutland, @87: in 1886 to Oct. 23, 75@ 155.
LilLi.
The total authorized issue of general mortgage bonds is $6,000,000
Vt., 62 miles; other, 2 miles; leased: Ballston to Schenectady, 15
miles; Fort Edward to Caldwell, 15 miles; total operated, 193 of which part is reserved to take up prior hens, including debt to
mil ah it was a consolidation of several lines, and the Delaware & State of Virginia and the Piedmont RR. bonds. The interest on the
Hudson Canal Co. leased the whole March 1,1871, at a rental of 8 per Debenture bonds is strictly cumulative and they carry unpaid the
cent on the stock and interest on the bonds. In the fiscal year end coupon of Oct., 1883, and all since, making 18 per cent April. 1886, and
ing Sept. 30,1885, the payments by the lessee company for rentals were In September, 1886, a proposal was made to the holders to issue to them
in exchange for each $1,000 bond and coupons thereon $1,180 in new 2d
$754,276, leaving a deficit of $33,102. Operations have been:
o—
/+^\
Aw»,,,
n et
Div. mort. 5 per cent gold bonds, and a cash payment ot $92 50. (See V. 43,
^
’
v»-------——
Gross
(ton)
Passenger tFreight
Earnings. Earnings.
Mileage.
Mileage.
p. 275.)
Years. Miles.
65,388,489 $2,104,596 $828,908 P 8
The annual report for the year ending Sept. 30,1885, was published
28,378,001
188182. 193
764,587
8 in the C h r o n i c l e , V. 41, p. 686, containing the following:
2,149,043
68,780,201
29,612,425
188283. 193
707,333
8
2,136.356
70,330,754
E arn in gs1884-85.
1883-84.
1883- 84. 193 30,286,267
8 Freight............................................................ $2,660,755
721,163
2,097,967
61,978.179
$2,520.561
30,766,535
188485. 193
—(Y. 41, p. 162, 558; V. 42, p. 604.)
Passengers........................................................
67,158
76,042
R ic h m o n d Sc A lle g h a n y .—Owns from Richmond to Clifton Forge, Express................................ - ..........................
171,312
163,452
230 miles; branch to Lexington, 19 miles; dock connection, 1 mile; Mail............................................. ....................
Telegraph,
rents,
and
miscellaneous........
96,418
94,837
leased, Buckingham RR., New Canton to Arvon, 4 miles; Valley RR. con
17,792
19,51 /
nection, 2 miles; total, 256 miles. The company was chartered Feb. 27, Interest on investm euts___ S................. —
$3,834,737
1879, and acquired by purchase the properties and franchises of the James
$3,999,147
Total receip ts...........................
2,218.977
River <&Kanawha Canal Co., and the Buchanan & Clifton Forge Radway Operating expenses......................................... 2,231,486
Co., including water rights on James River and terminals in Richmond;
$1,615,760
Net receipts............................................... $1,767,661
the cost of these in stock and cash was $6,588,609.
income account,
The stock is $5,000,000. Of the 2d mortgage bonds for $4,000,000,
1884-5.
1883-4.
1882-3.
$2.964,000 were sold and $1,036,000 pledged for loans. The receivers’ Net revenue for the y e a r ........ $1,605,256
$1,767,661
$1,617,358
certificates Sept. 30,1885, were $209,500; and in addition to the bonds Interestondebt, rentals, »fee... *1,492,700
*1,470,908
*1,483,097
given above there were $71,000 City of Manchester bonds assumed and
$136,150
$284,564
$34,000 Manchester improvement bonds issued. In May, 1883, default Balance over all charges........ $112,556
on the mortgage interest was made, and on June 23 receivers were
* The int. charge on debent’s is included here in full, but it was not paid.
appointed. In Sept., 1885, arrangements were made to defer payments - (V . 41, p. 208, 6 8 6 , 722; V. 42, p. 488, 575, 604, 683, 728 ; V. 43, p.
on principal of car trusts for five years.
.
_
73,163, 275.)
The plan of reorganization (given substantially m Chronicle v . 40 p.
R ich m on d. Fred erick sbu rg Sc P o to m a c .—Owns from Rich
152) will allow first mortg. bondholders to take a new lstm ortg. 5 per mond, Va., to Quantico, 82 miles. In November, 1881, there were
cent gold bond, drawing interest from Jan. 1, 1887, and $300 in pref. voted dividend certificates for $755,039-to be issued to holders of com
and $300 in com. stock. Second mortg. bondholders pay $5 cash for mon stock (70 percent on each share), to represent money spent on
bond of $1,000 and get $600 in new pref. stock. Stockholders get 70 the property out of earnings. The common stock is $1,030,100; guar
per cent in new common stook on paying in $3 cash for each new share anteed stock, $500,400 (6 per cent except $19.000 guar. 7 per cent), and
of $100. Earnings from operations for three years ending Sept. 30 were: “ dividend obligations” $764.400. In April, 1834, the Va. Court of
1885.
1884.
1883.
Appeals decided that the guaranteed stock had a claim for “ dividend
$589.591 obligations”
$604,083
Gross eam’gs, inol. rents, docks, &o. $635,327
like those issued to common stook holders, andin Dec., 1884,
404,918 $43,300 dividend
420,104
Operating expenses.......................... 406,900
obligations and $3,664 cash was issued to holders of
guar,
stocks.
In year ending Sept. 30, 1884, gross earnings were $471,$183,979
$184,673 705; net, $181,165;
Net earnings............................ $228,427
interest and guaranteed dividend charges, $88,923;
—(Y. 40, p. 94,152, 4 5 2 , 617; V. 41, p. 122, 446.)
balance net surplus, $92,942. In 1884-85 gross earnings, $471,913;
R ic h m o n d Sc D a n v ille .—L ine op R o ad .—The main line net, $191,815; interest paid, $50,624; guar, dividend, $J4,83a; sur
is from Richmond, Va., to Danville, Va., 141 miles; branches, plus, $106,357. (V .40,p. 624.)
w - 'p ■
12 miles; Danville, Va., to Greensboro, N. C., 47 miles; Salem Junction
R ich m on d. Sc P etersb u rg,—Owns from Richmond to Petersburg
to Salem, 25 miles; leased: West Point, Va., to Richmond, 38 miles; Va., 23 miles; branch, 2 miles; total, 25 miles. The road has earned
Goldsboro, N. C., to Charlotte, 223 miles; Charlotte, N. C., to Atlanta, moderate dividends and the debt account
io o c in .
269 miles, and narrow-gauge branches, 70 miles; total owned and gross earnings, $195,369; net, $87,069. In 1884-85, gross, c$192,650,
leased, 825 miles, of which 756 miles are operated directly by the Rich net, $95,168. (V. 42, p. 21.)
mond & Danville Co. and the earnings based thereon, and 69 miles,
R ic h m o n d Sc W e s t P o in t T erm in a l R a ilw a y & W a r e mostly o f the Atl. & Ch. narrow-gauge branches, are reported separately. h ou
se Co*—This company was incorporated by an act oi tue .LegislaIn April, 1886, the Virginia Midland RR. was leased for 99 years, and
ture
of Virginia of March 8,1880. It is the auxiliarycorporation of
the Greenville & Columbia, Charlotte Columbia & Augusta, and Western the Richmond
& Danville RR. Co. controlling several stocks by ownNorth Carolina also leased for 99 years.
rNYESTOKS’
SUPPLEMENT.
[V o l . X L III.
Subscribers w i ll confer a great favor by g iv in g im m ediate notice o f any error discovered in these Tables.
DESCRIPTION.
Miles Date Size, or
For explanation of column headings, &c., see notes of
of
Par
on first pag? of tables.
Road Bonds Value.
R io Grande A Ragle Pass—1st mortgage....................
Rochester A Genesee Talley—Stock.............................
Rochester A Pittsburg—See Buffalo R. & P.
Rock Island A Peoria—Stock.......................................
1st mortgage..............................................................
Rome A Carrollton—lstm ort., gold............................
Rome Watertown A Ogdensburg —Stock.....................
1st sinking fund mort., Wat. & R. (extended)___.
General mortgage, sinking fund..................... .
2d mortgage............... ................... .........................
Consol, mort., (extended July, 1882, at 5 per ct.).
Income bonds.............................................................
Syracuse Northern (gold)........................................
Rutland—Stock, common............................................
Stock, preferred..........................................................
General mort. (8 per cent, reduced to 6).................
New 2d mort. in exch. for equipment bonds, &c.
Sacramento A Placerville -1st mortgage (S. V. RR.).
1st mortgage (8. & P. RR.).......................................
Saginaw Valley A St. Louis.—1st mortg., coup........
St. Johnsbury A L . Champlain—1st M.,coup. orreg.
Consolidated mortgage (for $1,000,000)...............
St. Joseph A Grand Island—Stock.............................
1st mort., gold, interest guar, by U. P ....................
2d mortgage, income............... .................................
Bonds on branch roads ($15,000 per mile)............
St. Joseph A St. Louis—Stock...................... ...............
St. Louts Alton A Terre Haute—Stock.......................
Pref. st’ck (7 cumulative).........................................
1st mortgage (series A) sinking f ’d'l •*
ri.
1st mortgage (series B) sinking f’d I § 0 2 ,8 ® a
2d mortgage, preferred (series C).. ( o s ® >,§ S
2d mortgage,preferred (series D ) . . ) o g .o'S »
100
18
91
91
22
417
97
190
190
409
45
120
120
"48
36
120
252
252
"76
331
331
207
207
207
207
1855
1861
1872
1874
1882
1871
25,000
100 Ac.
100
100 &c.
500 &o.
1,000
1,000
1,000
1,000
1872
1878
1855
1877
1872
1880
1884
100 &C.
100 &c.
1,000
1,000
1,000
1,000
1,000
1885
1885
1*000
1,000
1878
1885
Too
100
1862
1862
1862
1862
100
1,000
500 &c.
1,000
1,000
Amount
0)
$552,200
Bonds—Princi
INTEREST OR DIVIDENDS.
pal,When Due.
Rate per When Where Payable, and bv Stocks—Last
Cent. Payable
Whom.
Dividend,
"3*
J. *& *J. N.Y.,byN.YL.E.&W.Co
1.500.000
2ia J. & J.
150.000
10
J. & J. N. Y., Com Exch. Bank.
150.000
6 g . J. & J. N.Y.,Farm. L’n & Tr. Co.
5,293,900
3
J. & J. N. Y., Central Trust Co.
418,100
6
M. & S.
do
do
1,021,500
7
J. & D.
do
do
1,000,000
7
J. & J.
do
do
6.337.000
5
A. & O.
do
do
300.000
7
Jan’ry
500.000
7
J. & J. N. Y., Central Trust Co.
2,480,600
....
4.000.
000
75~cts.
1.500.000
6
M. & N. Boat.,Columbian N. Bk.
1.500.000
5
F. & A.
do
do
400.000
10
J. & J. N. Y. Central Pac. RR.
700.000
6
J. & J.
do
do
446.000
8
M. & N. Boston, C. Merriam, Tr.
628.000
6 g . A. & O. Bost., Am. L. & Tr. Co.
400.000
5
Q .-J .
Boston.
4.600.000
7.000.
000*T g . M. & N. N. Y., Central Trust Co.
1.680.000
5
J. & J. Last paid, July, ’86, 2ia
5
(1)
923.000
3
....
2.300.000
****
2,468,400
~2i*
N.Y.,Office 34NassauSt.
1. 100.000
7
J. * J.
do
do
1, 100,000
7
A. & O.
do
do
1.400.000
7
F. & A.
do
do
1.400.000
7
M. & N.
do
do
July 1, 1886
Jan. 1,1900
Jan. 1,1916
July 15,1875
Sept. 1, 1910
Dec. 1. 1891
Jan. 1, 1892
July 1, 1922
July 1, 1932
July, 1901
Aug. 1,1886.
Nov. 1, 1902
1898
1875
1907
May 1, 1902
Oct. 1, 1910
April 1,1914
May 1, 1925
July 1, 1925
April, 1884
May 1,1886
1894
1894
1894
1894
ershlp of a majority, the total miles of road thus controlled being 1,840. mento Valley and the Folsom & Placerville railroads, April 19, 1877
In April, 1882, the stock was increased from $5,000,000 to $15,000,000.
4f1’7|6’00P- Gr05,s earnings in 1885, $128,177; net'
The Richmond & Danville Company owns $7,510,000 of this stock. S??n|1o?t52fl’
defloit under charges, $53,719. Gross, 1884, $130,441; net.
The report for 1885 showed that the R. & W. P. T. R. & W. Com $67,378; surplus,
$1,378. Leland Stanford, President, San Francisco.
pany owned these stocks, viz.: $2,607,150 Richmond & Danville
^
L o u i s .—Owns from Ithaca to Pains, 36
Extension Co., $120,000 Northeastern Railroad of Georgia, $3,168,300
leases Alma to St. Louis and Pains to Saginaw, 9 miles; total,
Western North Carolina RR. common and $3,168,300 pref.; $100,000
Knoxville & Augusta RR., $1,302,400 Charlotte Columbia & Augusta 45 miles. Opened January, 1873. Capital stook, $264,804. In 1884
eurumga were $85,037; net, $19,058. In 1885, gross, $74,941
RR., $3,577,333 Virginia Midland Railway, $1,001,000 Columbia &
Greenville RR., $49,000 Dan. Mock. & So. W. RR., $300,000 Richmond net, $22,909; interest payments, &c., $35,680. In July, 1879, manage
®
& Mecklenburg Railroad, $103,900 Rabun Gap Short Line, $85,900, ment was transferred to the Detroit Lans. & No.
Terminal stock, $3,133,980 Georgia Pacific Railroad; and the fol _,s t * J o b n s b u r y Sc t a k e C h a m p la in .—Owns from Lunenburg.
lowing bonds: $100,000 Knoxville & Augusta 1st mortgage 6 per cents, Vt., to Maquam Bay, on Lake Champlain, 120 miles, and branch from
$368,000 Spartanburg & Asheville 1st mortgage 6 per cents, $1,325,000 No. Concord, Vt., to East Haven, 11 miles; total, 131 miles. This was
Western North Carolina 1st mortgage and $4,110,000 2d mortgage. the Portland & Ogdensburg, Vermont Division, and was reorganized
$1,603,553 Virginia Midland 6 per cent Aco. Incomes, $315,000 uuder this titie in 1880. Preferred stook, $1,298,500; common stock,
Northeastern o f Georgia general mortg., $1,828,156; Georgia Pacific $2,550,000. In March, 1884, voted to issue the consolidated bonds, of
2d Incomes, and $306,700 Blue Ridge RR. and miscellaneous county and which $600,000 are reserved to take up its first mortgage bonds.
Operated by Boston & Lowell as its Vermont Division, and all but $41,township bonds, and $29,000 subscriptions.
On Nov. 19,1886. a meeting is called to make provision for the floating 000 of the 5 per cent bonds issued are held by that company. In 1883debt and for other matters. See V. 43, p. 4 86; (V. 42, p. 575, 604, 683, 84 gross earnings, $290,470: net, $61,827. (V. 41, p. 474.)
St. J oseph Sc G rand Is la n d .—Line of road, 8t. Joseph, Mo.,to Grand
728; V. 43, p. 487,)
’
R io Grande Sc E agle Pass (N. G .)—ProjectedfromLaredo, Texas, Island, Neb., 252 miles. This oompany was organized in June, ’85, as suc
cessor
of the St. Joseph & Western, sold in foreclosure, and includes also
to Brazos Santiago, 251 miles, und r name of Rio Grande & Pecos. Comileted from Laredo, on Rio Grande River, to Santa Tomas, 27 miles, to the Hastings & Grand Island RR. and the bridge at St. Joseph. The
he company’s coal lands of 20,000 acres. The Rio Grande & Pecos road is operated by the Union Pacific, which company guarantees the
was sold in foreclosure Dec., 1884, and this oompany organized. No interest on the lstm ortg. bonds. (See terms, &o.,V. 40, p.764.) In Sept.,
¿886, it was proposed to begin the construct ion of branch roads, with
late information. C. B. Wright, Jr., President, Philadelphia, Pa.
bonds at $15,000 per mile, as per circular in V. 43, p. 399. In the year
R och ester Sc Genesee V a lle y .—Owns from Avon to Rochester, eniing Aug. 31,1886, gross earnings were $1,171,501; net, $547,035;
N. Y., 18 miles. This road was leased July 1,1871, in perpetuity, to interest on bonds (including $ 42,000 on seconds), $462,000. James H.
Erie Railway, and now operated by New York Lake Erie «W estern. Benedict, President, New York. For eight months from Jan. I to Aug.
Rental, $34,012. James Brackett, President, Rochester, N. Y.
31,1886, gross earnings were $732,322, against $658,850; net, $320,_ Rock; Is la n d & P e oria.—Owns from Rock Island, 111., to Peoria 197, against $139,857. (V.41, p. 586, 613; V. 42, p. 157,431, 549, 695;
El., 91 miles; Rook Island & Mercer Co. RR., 22 miles; total, 113 miles* V. 43, p. 24,133, 275,399, 431, 460.)
This was the Peoria & Rock Island, sold in foreclosure April 4,1877,
St. Joseph. Sc St. L o u is.—St. Joseph, Mo.,to No. Lexington,Mo.,
the bondholders becoming the purchasers. Gross earnings in 1884-5. 76 miles. This was the successor to the St. Louis & St. Joseph
$376,448; net, $111,262, out o f which 5 per cent dividend paid.
Railroad, sold in foreclosure February 8,1874. The St. Louis Kansas
R o m e Sc C a r r o llt o n .—Road completed from Rome, Ga., to Cedar- City & Northern took a lease of the road for 99 years July 1,1874.
town, 22 miles, and further projected to Carrollton, Ga. Stock, $600,000. The terms of the lease were an annual payment of 30 per cent of gross
earnings, but $25,000 was guaranteed. In July, 1886, the road was sold
R o m e W a te r to w n Sc O gdensburg.—Operates from Niagara out and reorganized. (V. 41, p. 745; V. 42, p. 397 ; V. 43, p. 103.)
Falls to Massena Springs, 301 miles; Lewiston Junction to Lewiston, 40
St. L o u is A lto n Sc T erre H a u te .—Owns from Terre Haute,
miles; Sandy Creek to Syracuse, 44 m iles; Richland to Rome, 41 miles • Ind., to East St. Louis, 193 miles; proprietary line, East St, Louis to
Watertown Junction to Cape Vincent, ¿4 miles; DeKalb Junction to Bellevile, 14; leased lines—Belleville & Southern HI. RR., 56; Belleville
Ogdensburg, 19 miles; Syracuse to Oswego, 36 m iles; Utica to Ogdens & Eldorado road, from Du Quoin to Eldorado, 50; Bellev. & Car. RR.,
burg, 134 miles; Carthage to Saokets Harbor, 30 miles; Theresa Junc from Belleville to E. Carondelet, 17; total, 331 miles. This oompany was a
tion to Clayton, 16 miles; total, 648 miles. In April, 1886, the reorganization, Feb. 18,1861, of the Terre Haute Alton & St. Louis RR.
Utica & Black River road and branches were leased, the R. W. & O The Bellev. & So. Illinois is leased to this oompany for 999 years from Oct.
guaranteeing fixed charges and 7 per cent per annum on the stock.
1,1866, and the Bellev & Carondelet for 983 years from Jan., 1883, at
The R. W. & O. was a consolidation Oct., 1861, of the Watertown & a rental of $30,000 per year, which is a guarantee of int. on the bonds;
Rome and the Potsdam & Watertown railroads. The Lake Ontario Shore the stock of $500,000 is owned by the St. Louis A. & T. H. The main
Railroad was acquired January 15,1875; the Syracuse Northern, Aug. line (St.L. Alton <&T. H.) was leased Nov. 1, 1882, to the new Indianap,
1,1875. The Oswego & Rome was leased January 1,1866, at 8 per cent & St. L. Railway and the Cleve. Col. Cin. & Indianapolis jointly. Under
on stock and interest on bonds. The Niagara Falls Branch road was this new lease the rent guaranteed is $450,000, and that amount is all
leased Nov. 1,1881, at 7 per cent on its stock of $250,000.
that is to be paid unless the gross earnings exceed $1,750,000 In any
The company was in default on coupons of the consol, bonds after year ending Oct. 31, and then 20 per cent is to be paid of the excess of
April 1,1878, but afterward gave new sheets of coupons, 5 per cent gross earnings over $1,750,000.
interest; also funded the 334* per cent overdue interest (to July, 1882,)
This company obtained a decision against the two former solvent
into 7 per cent income bonds and assessed 10 per cent cash on stock.
lessee companies for $221,624 against each; but on appeal to the U.
The present management of the oompany succeeded the management S. Supreme Court this was reversed in April, ’86. The Belleville Br. and
which was identified with the Del. Lack. & West, interests. Charles Extension are operated separately by this company, The Belleville &
Parsons, New York, President.
Eldorado was leased for 985 years from July 1,1880, at a rental of 30
In April, 1886, the income bonds were offered an exchange of 40 per per cent on the gross earns., but $15,400 per year guarant’d. The Belle
cent in the 5 per cent consol, mort., due 1992, and 60 per cent in stock. ville & Carondelet is leased at $30,000 per annum.
For quarter ending June 30, 1886, gross earnings were $658,093,
Of the first mortg. bonds $636,000 are held in sinking fu n d ; of the
against $418,913 in 1881-5; net, $246,797, against $146,999 in 1885; equipment bonds $246,000 are owned by the company. The pre
sur. over taxes, interest, rental, &o., $30,711 in 1886, against def. of ferred stock has a prior right to a cumulative dividend of 7 per cent
$4,012 in 1885.
before any is declared on common. It is also convertible into com
- . G/J?S8^ r ? inA8JCr<iin 8ePt-1 to Aug. 31, $2,119,507 in 1885-6, against mon at p a r; but shall not receive any dividend as common stook for the
$1,536,073 in 1884-5; net, $64,701, against $538,847.
^
time it was held as preferred. In January, 1881, the company deolared
Operations and earnings for four years past w ere:
3 per cent in cash on the preferred stock and afterward settled the re
Years.
Miles. Pass’r mile. Fr’ht(ton)mile. Gross rec’ts. Net reo’ts maining 55 per cent of accum. dividends by the issue of income bonds.
19,223,584
54,470,111 $1,814,495 $401,581
1881-82....... 417
The annual report for 1885 was in V. 42, p. 603,
1882-83 ....... 417
18,872,541
55,834,358
1,694,231 300,723
The Cairo Short Line Division, including the roads directly operated
1 883-84........418
20,079,247
61,220,005
1,716,525
563,776 by this company, made the following exhibit:
1884-85...............
18,987,306
66,728,272
1,743,371
648,318
EARNINGS, EXPENSES AND BENT OF LEASED LINES.
For year ending Sept. 30, 1885, interest, taxes and rentals were
1883.
1884.
1885.
632,870; surplus, $15,447; surplus in 1883-4, $27,959.—V. 41, d. 77 Gross earnings............................. .
$832,468
$741,050
$766,316
16, B43. 586, 745 ; V. 42, p. 61,187, 305, 366, 464, 488, 549, 604: v ’ Operating expenses and taxes........
425,635
406,160
397,347
406,160
43, p. 217,218,245,488.)
’
'
’ V*
R u t la n d .—Owns from Bellow’s Falls, Vt., to Burlington, Vt., 12o
Net earnings............................... $406,833
$334,989
$368,969
miles; leases Addison RR., 15 miles; total, 135 miles. This road has been Rent leased roads.............................
200,897
203,971
203,381
through many ohanges. Itwas leased to the Cent. Vermont in Deo.,1870
for 20 years, but the lessee became insolvent, and finally a modification
Net revenue..................
$205,935
$131,018 $165,587
Of the lease was made, giving $250,000 per year as a
rental
SOURCES OF NET REVENUE.
mid $8,000 for organization expenses. The 5 per cent 2ds are a first Belleville branch, separate earnings............. .................
$46,911
mortgage on rolling stock and personal property. The annual report Belleville >ranoh, on business contributed by leased lines.......
26,652
for 1885-86 with income account was in V. 43, p. 72. (V. 40. d 94? V Leased roads, after deducting expenses and rentals..................
57,455
41, p. 1 3 2 ; V. 43, p. 72.)
’ *
’
Sacram ento Sc P la c e r v ille .—Owns from Sacramento, Cal., to
Total net revenue......................................................................($131,018
Shingle Springs, Cal. 48 miles. This was a consolidation of the Saera- -*(V. 40, p .5 9 5 , V. 42, p. 126,550, 603.)
f
f
MAP OF T H E
»
Pd
S T . L O U IS
R
&
A
S A N
I
L
W
F R A N C IS C O
A
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A
AN D ITS CONNECTIONS.
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3u$IIngtoihc
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KINGM4A,
Coopery
fClinton
Kinsley/
5?.
R AILR O AD STOCKS A N D BONDS,
.V s
Kicker
JEFFE
Versailles^
EmporQ
TOP.,
. . 9 i - ^ r ooa Mc.Pherson
Projected R.R.
Coollflge
iolden
íarrison ~Vj
Ottava
¡Burlingame)
ì y»
S
p
r
.
.
-Jasper
S Ü**y9tíá
JWestTork
511Winslow*
Gibson
' ^ ÏÏUe
bnesboro
Nettletdn.
'Beilt
Ne-vpd
Co
(porter
V
\ ” fwnflv
y. <>9 ■
-fe
X * -tA
A?*
H
% Ä* >
fOcate aá—»«—• ■■ -|
*
L-.
B. Clarksville j
büren
O/iTsjvuth
COP*
. +F.t.Reno ¿O
A'j
& Wl l M E A l
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C¡tarocco l
|?nl0 Ç^Cartbage
SanMarclal}5'
LiNGE1-es
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!
©Dallas
C%
_£rkadelphla)¡
rDoakswllle
-<P'
CONTINUATION
OFTHE
ATLANTIC St PACIFIC1
RAILROAD
and connections.
Seduced Beale.
•Nogales
|A* Casita
dS&b
JJCarmen
falyetn
Dlne'Bluif)
L V
LliUnowison
ÛC
•Ä.
Clarks "V".
PARIS ------------- T E X A S
/ Guidon
i*1
Texarkana
kHOpe)
Camden)
•garren
:ov
a-O-1
iti»5
INVESTORS’
8 2
SUPPLEMENT.
LVoL.XLin.
Subscribers w ill confer a great favor by giving: Im m ediate notiee o f any error discovered in tliese Tables.
DESCRIPTION.
on first page of tables.
81. Louis Alton <t Terre Haute—{Continued)............
2d M., incomes, cp., or may be reg. by endorsem’t.
Dividend bonds, income not cumulative................
Belleville & Carondelet, 1st mort.............................
J3t. Louis Arkansas <6 Texas—S tock...........................
St. L. A. <fc T. in Ark. & Mo., 1st mort., g o ld ......
2d mort. (income till’ 89), g o ld ..........................
St. L. A. & T. in Texas, 1st mort., gold..................
* 2d mort., gold (income t ill’ 89)............................
8t. Louis & Cairo—1st M., income (not cumulative)
1st mort., guar., M. & O.......... . ............................
8t. Louis Ft. Scott <&Wichita—1st M. ($15,000 p. m.)
2d mort. ($5,000 p. m.).............................................
t. Louis <6Hannibal—1st mortgage ($600,000)___
t. Louis Keokuk &N.W.—Stock($l,350,000 is pref.)
1st mortgage, gold................... .................. .............
Income bonds. k .................................. .....................
81. Louis Salem <6Little Bock—1st mortgage............
St. Louis <t San iran cisco.—Stock, com m on............
Preferred, 7 per cent, not cumulative........ ..........
1st preferred, 7 per cent, not cumulative...............
1st mortgage (South Pacific), gold, (land grant)...
2d mortgage bonds, A, gold.....................................
do
do B, g o l d ..................................
do
do C, g o l d . . ; . . . . / . . . .....................
Equipment mortgage, gold.. . . : . .............................
Mortgage on Mo. & Western RR., gold...................
Collateral trust bonds, g o ld .....................................
St. Louis Wichita & West., 1st mort., gold, guar...
Gen. M., gold, coup, or reg. (a 2d M. on 293 miles)
. Equipment Trust.......................................................
Kansu® C. & Southw., IstM., gold ($12,000 p.m.).
Ft. Smith & Van Bur.B’dge, 1st mort., gold, guar.
INTEREST OR DIVIDENDS.
Bonds—Princi
Miles Date Size, or
pal,When Due.
Amount Rate per
of
of
Par
When [Where Payable, and bv Stocks—Last
Road. Bonds Value. Outstanding
Cent. Payable
Whom.
Dividend.
1862 $500&c. $1,700,000
M. & N. N. Y .,Office 34 Na ssauSt.
7
1894
....
1881
1,357,000
6
June 1
do
do
Jan. 1, 1894
1,000
1883
485,000
6
J. & D
do
do
June 1, 1923
100
9,748,900
....
1886
5,577,000
~ f g . M. &"n . N. Y , Central Trust Co. May J, 1936
....
1886
5,577,000
do
do
6 g ■ F. & A.
May 1, 1936
1886
3,952,000
6 g. F. & A.
do
do
May 1, 1936
....
1886
3,952,000
6 g. F. & A.
fO
do
May 1, 1936
1,000
1881
2,600,000
5 g. A. & O. NeW York or London.
1921
1886 500 &c.
1,400,000
4= g. J. & J.
New York Agency.
Jan.
1, 1931
1,000
1880
7
A. & O. New York, Moran Bros. Oct, 1, 1910
.... .... 1.000 3,777,000
1,000.000
6
M. & N.
do
do
Nov.
1,
1910
85 1886
370,000
7
J. & J.
1936
184
1,000
2,700,000
135 1876
1,000
1,620,000
T g . J. ’& J.
Jan. 1, 1906
135 1876
1,000
1,080,000
7
J. & J.
Jan. 1, 1906
__ 1872
....
1,000,000
7
A.
&
O.
N.Y.,
Union
Trust
Co.
A
p r ili, 1902
....
__ 15,500,000
814
__ 10,000,000
.... ....
__
.... ....
4,500,000
” 3*3 F. & A. N. Y., Company’s Office. Aug. 10, 1886
293 1868 500 &c.
7,144.500
6 g. J. & J.
do
do
July, 1888
293 1876 100 &c.
500,000
6 g. M. & N.
do
do
Nov. 1. 1906
293 1876 500 <fec.
2,766,500
6 g. M. & N.
do
do
Nov.
1, 1906
293 1876 500 &c.
6 g. M. & N.
do
do
Nov. 1. 1906
__ 1880 1,000 2,400,000
721,000
7 g. J. & D.
do
do
June
1, 1895
84 1879
1,000
1,090,000
6 g. F. & A.
do
do
Aug. 1. 1919
100 1880
1,000
1,270,000
6
F. & A.
do
do
1920
145 1879
2,000,000
6
M. & S.
do
do
1919
179 1881
1,000
7,739,000
do
do
6 g- J. & J.
July 1 1931
1884
372,000
6 g. A. & 0.
do
do
A.&0.5p.c.
ea.
63 1886
1,000
744,000
J. & J
do
do
Jan. 1, 1916
î g.
g - A.
1885
1.000
475,000 - 6
& O.
do
do
April 1. 1910
St. L o u is A rk a n sas Sc T e x a s.—Road from Birds Point, Mo
tracks of the Atchison Topeka & Santa Fe are used
opposite Cairo, 111., to Texarkana, Tex., 419 miles, and thence by the rrom Wichita to Halstead,
Kansas, 25 miles. This company also operates
Texas road to Gatesvilie, 304 miles; total, main line, 723 m iles; the finished portion of the Atlantic & Pacific road. Central Division, from
branches, Paw Paw to New Madrid, 6 miles; McNeil to Magnolia, 6 Seneca, Mo., to Sapulpa, in the Indian Territory, 112 miles.
miles; total, 735 miles. The Texas & St. Louis had a land grant of
Organ ization , &c.—This company was organized Sept. 20, 1876, as
about 1,000,000 acres in Texas.
The road was opened in 1883.
to the, Atlantic & Pacino in Mo. The latter embraced the South
The road in Texas was foreclosed Dec. 1,1885. The Mo. & Ark. Div. was suocessOT
Racine
RR. (originally the Southwest Branch of the Pacific RR. of Mo.,
sold on Feb. 27,1886. Tfie present organization, which was formed in chartered
Deo. 25,1852), which was consolidated with the Atlantic &
1886 after the foreclosure or the Texas & St. Louis, consists of two
9 ct- 25, 1870. The Atlantic & Pacific road and lands were
corporations, the one owning the road in Missouri and Arkansas and sold in r2ad
foreclosure
Sept. 8, 1876, and the St. Louis & San Francisco
the other the road in Texas. By the laws of Texas, railroads within became possessor of the
property.
that State cannot be consolidated with oth er roads outside the State,
On
January
31,
an agreement was entered into with the
therefore it was provided that the Co. in Mo. and Ark. should issue its Atchison Topeka & 1880,
Santa Fe for construction of a through line to the
stock to the Co. in Texas, and the latter Co. should issue its own certifi Pacific, and in August, 1884, further contracts entered into with the
cates for such stock. A statement of the Texas & St. Louis affairs was in Southern Pacific of California and the Atchison Topeka & Santa Fe.
the S u p p l e m e n t under that title up to and including June, 1886, and a
In January, 1886, leased for 98 years the Kansas City & Southwest
summary of the reorganization scheme was in the C h r o n i c l e , V. 41, p ern
RR., from Beaumont. Kansas, to Cale, in Butler County, 62 miles, at
278, and in, the S u p p l e m e n t of Oct. 31, 1885, on p. 3, and contained a. rental guaranteed to pay the interest on the 1st mortgage bonds. The
the following: The new companies are to issue six per cent 50-year bonds are redeemable-on notice at 110.
first mortgage bonds to amount of $9,000 per mile, with the right to
Stocks and B onds .—The first preferred stock has prior right to 7 per
increase to $13,000 per mile, for the purpose of widening the gauge; six
, ? UL ^ V®) > then pref. entitled to 7 per cent; then common
per cent 50-year second mortgage bonds, $13,000 per mile; and stock entitled to0U7;
then all classes share in any surplus. The terms of
$13,300 per mile. Bonds and stock on future extensions to be at the the preference of the first preferred stock are stated in the certificates
same rate. All bonds issued by the new companies are to be deposited as follow s: “ This stock is entitled to a dividend of 7 per cent per
with a trust company, which is to issue against the same its trust certi annum, derived by the company from net revenues from all sources
ficates, called collateral trust certificates, “ entitling the holder to a pro each current year (remaining after the payment of interest upon all
rata interest in the win le issue of first or second mortgage bonds.” The liabilities)
* * and by resolution of the company has priority of lien
stock to be issued by the Missouri and Arkansas Company is to be trans on net revenues for such dividend over any mortgage bond that may be
ferred to the Texas Company, which latter is to issue its own stock for issued by the oompany subsequent to the creation of this stock.”
the same. It is provided that for the period of five years the control of
Net Revenue’ in this clause is defined by the company as meaning net
the entire road is to be vested in the committee, and for this purpose revenue remaining after toe payment of interest ou all liabilities.
the stock of the new company or companies is to be deposited with a
Dividends have been paid on first preferred stock in 1881 and since
trust company, “ with irrevocable proxies to the committee, author at 7 per cent per annum.
izing it for such five years to vote for directors of the companies.” For
i
^ e^ange the stocks yearly since 1877 has been: First preferred in
stock so deposited negotiable certificates are to be issued, and desig
(4™
in 1879, 9%®78*a; in 1880. 60®100; in
nated as “ 6tock trust certificates.” (V. 41, p. 77,103,134, 243, 273, J
81g fc?°^ 115^ ; 111 1882, 79%®106*a; in 1883, 87® 100*2; in 1884,
357, 393, 421, 586, 654, 722, 745 ; V. 42, p. 217, 305, 488, 519, 575 i£
70®96*a;
in
1885,
79®99*
2;
in 1886 to Oct. 23, 97® 118*4.
632; V. 43, p. 50, 103, 275, 459, 488.)
Preferred stock in 1 878,l*s®5*4; in 1879, 4*s®60*2; in 1880. 33®
St. L o u is & Cairo.—This road extends from Cairo to East St. Louis, 65; in 1881, 55®81*4; in 1882, 43®66*2; in 1883, 40®59*2; in 1884',
152 miles, with a branch to High Prairie, 9 miles. The former Cairo & 24*2®50; in 1885, 30®497s; in 1886 to Oct. 23, 37*2®70*4.
Common in 1L878 (3 months), 1*2® 4*8; in 1879, 3*s®53; in 1880, 25*4
St. Louis made default April 1, 1874, and was sold in foreclosure July,
1881. Stock is $6,500,000. In Jan., 1886, a lease was negotiated for ® 48; in 1881, 39®55; in 1882, 31®46i8; in 1883. 20*3®36*4; in 1884.
45 years to the Mobile & Ohio RR. on the basis of a rental of 25 per 11*3 ®29*2; in 1885, 17*2®24*s; in 1886 to Oct. 2 3 ,17®357«.
The trust bonds of 1880 are secured by deposit of 7 per cent
cent (^bo, 40) of the gross revenue of the whole line, Mobile to St.
Louis, this rental being guaranteed by the lessee to amount to $165,000 mortgage bonds of the auxiliary roads constructed. The general
mortgage
of 1881 (supplemented by t hat of June, 1882» changing
per year. The issue of $2,600,000 income bonds Is to be retired with
part of the $4,000,000 mortgage bonds, which are guaranteed by the the rate of interest to 6 per cent) for $30,000,000 is made to
M. <fc O. Gross earnings in 1883-84, $375,784; net, $78,837; interest, the Umted States Trust Company as trustee, and $17,261,000 reserved
to take up all prior debt. This general mortgage is a first Men on 179 miles
$78,000; surplus, $637. (Y. 42, p. 22, 93, 126, 431, 775, 783.)
of new road, besides covering the mileage on which are the prior liens.
St. L o u is F o rt Scott Sc W ic h ita .—From Fort Scott to Anthony,
The Fort Smith & Van Buren Bridge bonds are guaranteed by the St.
Kan., 216 miles; Gilflllan Spur, 2 miles; Eldorado to Newton, Kan., 32 L. & S. F. Co., and have a sinking fund of 5 per cent yearly after 1889
m.; total, 251 miles. Moran Brothers of New York, and other capital to purchase the bonds at 105; they are redeemable aiso at 110 at co.’s
ists, largely interested Stock, $6,614,885. Gross earnings in 1885-6, option. The old Atlantic & Pacific land grant is practically closed out.
$663,051; net. $152,282; deficit under interest, &c., $84,459. Gross in The South Pacific lands showed 145,090 acres on hand January 1,1886.
1884, $508,654; net. $185,008; surplus for interest, $114,745. See The land department assets were estimated Dec. 31,1885, at $896 183.
statement in Missouri Pacific report, V. 42, p. 661. (V. 42, d. 632, 661: including lands and $324,335 in land contracts and $147,459 cash.’
V. 43, p. 459.)
Oper ation s , F inances , &c.—The St. Louis & San Francisco has been
St. L o u is Sc H a n n ib a l.—Owns from Hannibal, Mo., to Gilmore, on one of the successful reorganized railroads of the Southwest, and has
Wabash St. Louis & Pacific, 82 miles. This company is successor to the made good progress in traffic and income, without very heavily increas
former St. Louis Han & Keokuk, sold in foreclosure Deo. 8,1885. The ing its annual interest charges. The relations with the Atlantic & Pacific
principal owners were Mr. John I. Blair and the estate of Moses Taylor Co., as a part owner of its stock jointly with the Atch, Top. & S. F. Co.
m New York, who became the purchasers. The stock is $1,000,000 au are somewhat complicated, and large advances have been made to the
thorized and $452,000 issued. Gross earnings in 1885, $106,969 ; A. & P . Co. (See V. 40. p. 594.)
operating expenses, $216,049; deficit, $109,081. John I. Blair, Presi
The St. Louis <fe San Francisco annual report for 1885 (Chronicle , V
42, p. 602) had the follow ing:
dent. (V. 41, p. 393, 474, 689, 745; V. 42, p. 366.)
St. L o u is K e o k u k Sc N o rtk w e ste rn .—Owns from Keokuk»
OPERATIONS AND FISCAL RESULTS.
la., to St. Peters, 135 miles; leased Keokuk to Mt. Pleasant, 49 miles
Li
1882.
1883.
1884.
1885.
and uses Wabash tracks from St. Peter’s, Mo., to St. Louis, Mo., 31miles; Miles operated..........
725
776
814
815
total operated, 215 miles. The Miss. Val. & Western RR. was sold Aprii
$
$
$
$
14,1875, and this company organized July 1,1875. Road completed in Gross earnings........
3,572,240
3,896,565
4,6437596
4,383,406
autumn of 1879. Income bonds above were originally a part of Operating expenses. 1,625,781
1,823,128
2,135,378
1,949,744
$2,700,000 first mortgage bonds, but by agreement they were changed
into their present form. Gross earnings year 1884 $411,494 ; operating
Net earnings....
1,946,459 2,073,437
2,508,218
2,433,662
expenses, $412,988; deficit, $1,494. Gross earnings in 1885, $585,247;
INCOME ACCOUNT.
net, $--------:— . W. W. Baldwin, President, Burlington, la.
' .
1882.
1883.
1884.
1885.
St. L o u is Salem Sc L ittle R o c k . — Owns from Cuba, Mo.,
Receipts— .
$
$
«
*
to Salem, Mo., 42 miles, and branches, 13 miles ; also 17 miles of branches
Net
earnings..........
.
1,946,459
2,073,437
2,508,218
2,433,662
controlled ; total operated, 72 miles. Reaches St. Louis by St. L. & SanF.
56,857
24,376
14,836
19,782
RR. Stock is $1,000,000. Earnings in 1885, $47,222; net, $15,407. Other receipts........
Road was sold in foreclosure in Sept., 1886. See V. 43, p. 400. A. L.
Total net income. 2,003,316
2,097,813 2,523,054
2,453,444
Crawford, President, Newcastle, Pa. (V. 42, p. 754; V. 43, p. 4 ¡0, 424.)
Disbursements—
$
$
$
<g
St. L o u is Sc San F ran cisco.—(See map.)—L i n e o p R o a d — This is Int.,sink. fd. & rents 1,099,343
1,343,436 1,826,203
1,751,215’
a considerable system of railroads, forming part of a through route to the Divs.cn lstp f. stock.
315,000
315,000
315.0o0
315,000
Pacific coast. The main line is from St. Louis, Mo., to Seneca, 326 miles; Rate of dividends...
7
7
7
7
branches—Granby branch, 1*2 miles; Oronogo, Mo., to Joplin, 10 miles; Miscellaneous...-....'
85,410
11,004
242
4 732
Girard to Galena, Kan., 47 miles; Carbon Branch-. 3 miles : Peirce City
to Wichita, Kan., 218 miles; Plymouth, Mo., to Fort Smith Ark., 134*2
Total disbursem’ts. 1,499,754
1,669,440
2,141,445
2,070,947
miles; Springfield to Chadwick, Mo., 35 udles ; Springfield to Bolivar, Balance, surplus---503,562
' 381,609
382,497
1X7 .441,
1 p. A
nA ßlO
O p. OOA
n428,373
on aaì
in p. 24.)
’
Mo., 39 miles; total owned, 815 miles ; leased, Beaumont to Cale, Kan. _
—(V.
474,
613;. IT
V. A
42
339,602,
604,775; tt
V. 43,
f
17
733
429
429
304
304
144
161
251
BONDS.
AM)
STOCKS
R AILR O AD
O c t o b e r , 1886.]
84
INVESTORS’
SUPPLEMENT.
[V ol. XT jTII.
Snfe»criberg w ill confer a great favor by g iv in g Im m ediate notice o f a n y error discovered In these T ables.
DESCRIPTION.
INTEREST
Miles Date Size, or
Amount Rate per When
For explanation of column headings, &c., see notes of
Par
of
Outstanding
on first page of tables.
Road. Bonds Value.
Cent. Payable
St. Louis Yandalia A Terre Haute—1st M. s. f. guar, 158
2d mort., sink, fund ($1,600,000 guar.)................
158
St. Paul A Duluth—Preferred 7 p. e. stock & scrip. 225
Common stock............................................................ 225
1st mort. bonds, coup, or reg................................... 169
Taylor’s Falls & Lake Sup., 1st mort., op.,guar__
21
Duluth Short Line, 1st mort., coup., gu ar.......... .
25
St. Paul M inneapolis A Manitoba—Stock.................. 1,350
2d M., and 1st on road from St. Paul to W atab___
76
1st mort. land grant sinking fund, gold................ 656
2d mort., gold..........................................i ................. 656
Dak. Ext., lstm ort.,gold ($12,000 per mile)........ 473
Consoi mort., gold (for $50,000.000), coup, or reg. . . . .
Minneap. Un. RR., 1st M., gold,guar. ($3,000,000) . . . .
St. Paul A No.Pac.—Stock ($10,000,000 authorized) 126
General mort., gold, Id. gr., coup, or reg.............
152
Western RR., Minn., 1st mortgage, R R . . . ,..........
601«
Sandusley Mansfield A Newark—Re-organized stock 116
1st mortgage, new..................................................... 116
San Francisco A North Pacific—Stock.......................
93
Savannah Florida A West.—At. & G. consol, mort.. 286
South Georgia & Florida, 1st mortgage.................
58
do
do
2d mortgage..................
58
Say. Fla. & W., 1st m ortgage.................................. 525
Savannah Griffin A N.Ala.—1st mortgage.................
60
14%
Schenectady A Duanesburg—1st M., guar. D. & H_.
Schuylkill valley—Stock..............................................
19
Scioto Talley—1st mort. (s. fund $13,000 per year).
98
2d mortgage (sinking fund, $5,000 per year).......
98
Consol, mortgage....................................................... 124
Equipment bonds......................................................
Seaboard A Roanoke—Stock ($244,800 is pref.).......
80
Mortgage for $2,500,000.............. ........................., . . . .
1867
1868
....
...
1881
1884
1886
___
1862
1879
1879
1880
1883
1882
....
1883
1877
1869
....
1867
1869
1869
1884
1871
1874
....
1876
1879
1880
....
1886
$1,000 $1,899,000
1,000
2,600,000
....
5,376,970
....
4,055,407
1,000
1,000,000
1,000
210,000
1,000
500,000
100 20,000,000
1,000
366,000
100 &o.
5,250,000
1,000
8,000,000
1,000
5,376,000
1,000 19,344,000
1,000
2,150,000
100
5,000,000
1,000
5,500,000
1,000
438,000
50
1,068,832
1,000
2,300,000
....
3,750,000
500 &c.
1,730,500
1,000
464,000
1,000
200,000
1,000
1,925,000
1,000
500,000
100 &c.
500,000
50
576,050
500 &c.
1,294,000
1,000
283,000
1,000
553.000
82,OfM>
$100 $1,3021800
—
0)
St. L o u is V a n d a lia Sc Terre H a u te .—Owns from East St'
Louis to Indiana State line, 158 miles. Road opened July 1, 1870*
It is leased to the Terre Haute & Indianapolis Railroad at a rental
o f 30 per cent of gross earnings. For the year ending October 31, 1885,
the net income was $411,794, and the year’s charges against this sum
were $365,387; leaving a surplus for the fiscal year of $46,407. In
operating this road theloss to lessee has been m 1881-82, $70,272; in
1882-83, $115,399; in 1883-84, $71,549; in 1884-5 profit $39,169. The
annual report for 1884-85 was published in the Ch ro nicle , Y. 42, p.
154. The first mortgage and $1,000,000 of second mortgage bonds are
uar. by the lessees and also by the Pitts. Cin. & St. L. RR. The stock is
2,383,016 com. and $1,544,700 pref. The pret. was issued for income
bonds ($1,000,000) and for deficiencies made up by the lessees. Thos. D.
.Messier, Pres., Pittsburg, Pa. Operations and eam ’s for four years were:
Pass.
Freight (ton)
Gross
Net
Years.
Miles.
Mile.
Mile.
Earnings.
Eam ’gs.
1881-82 .. 158
18,311,812
115,982,845
$1,596,126
$408,566
188 2-8 3 .. 158
18,585,282
111,810,481
1,700,954
442,218
1 8 8 3 -8 4 .. 158
18,741.460
104.209.720
1,490,307
375,543
1884-85 ..1 5 8
19,165,187
107,920,692
1,372,648
450,963
—(Y. 40, p. 150, 356; V. 42, p. 94. 1 5 4 .)
St. P a u l Sc D u lu tb .—L in e o f R o ad .—St Paul, Minn.,to Duluth.
Minn., 155 miles; branch to Knife Falls, 6 miles; leased: Stillwater &
Bt. Paul RR., 13 miles; Minneapolis & Duluth RR., 13 miles; Taylor’s
Falls & Lake Superior, 21 miles; Grantsburg Branch, 17 miles; total,
225 miles. Between Northern Pacific Junction and Duluth, 24 miles,
the road is owned jointly with the Northern Pacific.
This was the Lake Superior & Mississippi RR., opened August 1,
1870, and leased to the Northern Pacific. Default was made Jan. 1,1875,
and road sold in foreclosure May 1,1877, and this company organized
June 27. The preferred stock is received in payment for lands at par.
Three shares of common stock have one vote and each share of pre
ferred has one vote. Preferred stock has a prior right to 7 per cent;
then comm on to receive 6 p . c. from net earnings only, remainder of
eam ’gs and other income (lands,&c.) to be applied to purchase of pres.stk
The net income from 1877 having been spent on improvements, 10.
per cent in pref. stock was paid to the pref. stockholders Nov., 1881,
in lieu of cash due them to July, 1881; in August, 1884, an additional 7
per cent in pref. stock was so paid. All other dividends due preferred,
stockholders from July, 1881, to date, have been paid in cash.
The company has a land grant, of which 1,167,054 acres remained unsoldJu ne30,1886, and 69,680 acres of the Taylor’s Falls Branch. I n ’85’86 land and stumpage sales amounted to $189,152, anddef’d payments
(land accounts) Dec. 31, 1885, were $368,669. Gross earnings and
net income on railroad only, after deducting all fixed charges, were as
below, but in 1885 $167,186 for “ improvements” was charged in oper
ating expenses, while in prior years improvements had been charged to
“ cost of road and equipment."
Gross
Net
Gross
Net
earnings.
income.
earnings, income.
1881
... $732,630 $50,249 1884 ............ $1,317,314 $398,091
1882
.... 1,109,840 261,246 1885 ............ 1,381,212
328,610
.... 1,328,527 271,186
1883
A summary of the report for the year ending June 30,1886, was in V.
43, p. 190, showing total net receipts including land sales $843,002; ex
pended for improvements, $417,104; net surplus of year applicable to
dividends, $375,898. (V, 41, p. 2 7 2 , 357; V. 42, p. 2 4 1 , 272, 632, 775*
V. 43, p. 1 9 0 , 460,480.)
’
St. P a u l M in n ea p o lis Sc M a n ito ba —(See Map).—Owns from 8t.
Paul to Emerson, 392 miles; Minneapolis to Gretna via Breckinridge,
413 m .; Minneapolis to Hinckley via St. Cloud, 132 m .; St. Cloud to
Willmar, 58 m.: Elk River to Milaca, 32 m.; Devil’s Lake to Minot,
117 m.; Cando Branch, 16 m.; Bolleneau Branch, 38 m.; Sauk Centre
to Eagle Bend, 36 miles; Fergus Falls to Pelican Rapids, 23 miles;
Crookston to DeviTs Lake, 114 miles; Shirley to St. Hilaire, 21 miles;
Wayzata to Spring Park, 6 miles; Morris to Brown’s Valley, 47 miles;
Breckenridge to Park River, 168 miles; Everest to Portland, 47 miles;
R ipontoH ope, 30 miles; Moorhead to Halstad, 34 miles; total oper
ated, 1,761 miles.
This company was organized May 23, 1879, under the charter
of the St. Paul & Pacific Railroad, and embraced the St. Paul & Pacific
Railroad, the First Division of the St. Paul & Pacific Railroad, the Red
River Valley Railroad, and the Red River & Manitoba Railroad. The
oompany had a land grant of 3,848,000 acres. The proceeds of land
sales are reserved by the first mortgage trustees as a sinking fund for
the redemption of the bonds at or under 105 and interest, and bonds
are called in yearly so far as the funds are in hand. The second mort
gage bonds do not cover the land. The land sales for year ending
June 30, 1886, were 68,560 acres, for $363,467. The net amount due
on land contracts June 30,1886, was $511,121; lands unsold, 2 727i224 acres.
*
. The Dakota Extension bonds are issued at $12,000 per mile The
consolidated mortgage bonds of 1883 were issued to stockholders of
May 1,1883, to the extent of one half their holdings, on the payment
of 10 per cent of the bonds in cash. The authorized amount of consoli
dated mortgage is $50,000,000, of which $19,426,000 were reserved to
pay prior liens, and the balance may be issued for new road at $15,000
per mile single track or $27,000 per mile double track. The Minneapolis
Union RR. is a connecting road for other roads from the stock vards at
St. Paul to Minneapolis, and its stock is $1,000,000.
The annual report for year ending June 30, 1886, was in V. 43, p. 366.
S
Whom.
Bonds—Princi
pal, When Due.
Stocks—Last
Dividend.
7
7
3%
J. & J. N. Y., Central Trust Co
M. & N.
do
do
J. & J. N. Y., Fourth Nat. Bk
Jan. 1, 1897
May 1, 1898
July l , 1886
5
6
5
1%
7
7 g.
6 g.
6 g.
6 g.
6 g.
i%
6 g.
7 *
3
7
F. & A. N.Y., Central Trust Co.
J. & J.
do
do
M. & S.
do
do
Q.—F.
N.Y., 63 William St.
J. & J.
do
do
J. & J. New York and London,
do
do
M. & N. N. Y., 63 William St.
J. & J.
do
do
J. & J.
do
do
Q —J. N.Y., Winslow, L. & Co.
F. & A.
do
do
M. & N.
do
do
Moss N. Bk.,Sand’ky,0.
J. & J. N. Y.. Union Trust Co.
Aug. 1, 1931
Jan. 1, 1894
Sept. 1,1916
Nov. 1, 1886
July, 1892
1909
Oct. 1, 1909
Nov. 1, 1910
July l, 1933
July 1, 1922
J a n , 1886
Feb. 1, 1923
May 1, 1907
Feb. 1, 1885
July, 1902
7
7
7
6
7
6
2%
7
7
7
J. <fe J.
M. & N.
M. & N.
A. & O.
J. & J.
M. & S.
J. & J.
J. & J.
N.Y.,H.B.Plant,&Savan
do
do
do
do
do
do
Savannah, Cent. RR.Bk
Del. & Hud. Canal Co.
Philadelphia, Office.
Last paid July, 1884.
Last paid April, 1884.
J. & J. Last paid July, 1884.
July, 1897
May 1, 1899
May 1. 1899
April 1, 1934
July 1, 1891
Sept. 1, 1924
July 15,1886
Jan. 1, 1896
April 1, 1894
July 1. 1910
5
5
M. & N.
May. 1, 1886
1927
INCOME ACCOUNT.
1882-83. 1883-84. 1884-85.
1885-86.
$
$
Gross earnings.................. 9,148,524 8,256,868 7,776,164 7,321,736
Net earnings..................... 4,553,468 4,327,478 4,266,237 3,483,084
Revenue from Land Dep’t
813,945
418,270
131.292
350,114
92,106
Other receipts....................
214,434
66,284
171,116
Total incom e............... 5,459,519 4,960,182 4,463,813 4,004,314
—
$
Disbursements—
$
Interest on debt................. 1,264,279 1,949,690 1,980.200 1,999,820
Dividends.......................... 1,724,664 1,600,000 1,300,000 1,200,000
Rate of dividend...............
8
61«
6
8
Sinking fund......................
813,945
418,270
131.292 350,114
Miscellaneous.... ..................................
381,545
____
3,802,888 4,349,505 3,411,492 3,549,934
„ , Total disbursements..
Balance, surplus............... 1,656,631
610,677 1,052,321 454,380
—(V. 40, p. 652; V. 41, p. 21 4 , 3 0 6 , 318, 341, 434; V. 43, p. 232, 2 4 4 ,
3 6 6 , 460.)
, .Si* ®*a u l dc N orthern P acific.—Line of road Brainerd to St. Paul,
1*7 miles. This company- was incorporated in 1874 as the Western
? ,‘
‘
Minnesota; from Sauk Rapids to Minneapolis was completed
July 1,1884. and from Minneapolis to St. Paul, February, 1, 1886,
The terminal improvements at Minneapolis are on 20 acres in the
business centre of the city, and for similar purposes in and about
Minneapolis and St.Paul, a total
of 490 acres is owned. The
land grant of the company is located along the line of the road
between Brainerd and Sauk Rapids, and about 220,000 acres remain
unsold. The road, with its terminal property, is leased for 999 years
to the Northern Pao. at a net rental equal to 40 p. o. of the gross receipts,
but the bonds are guaranteed principal and interest. The stock is
placed in trust with Farmers’ L. & T. Co., the power to vote being held
by Northern Pacific Company; but “ beneficial certificates ” entitling
holders to dividends are issued. The general mortgage is for
$10,000,000, and is a first lien on the whole property, excepting that
it is second to the Western Minn, mortgage on 60 % miles and on part of
the lands; the registered interest is payable quarterly—February, May,
Aug. and Nov.; only $5,500,000 have yet been issued, and a sufficient
amount of the issue is reserved to retire the Western Minnesota bonds
in above table. Since 1877 regular cash dividends have been paid,
averaging over 6 per cent per annum.
Sandusky M ansfield Sc N e w a rk .—Owns from Sandusky, O., to
Newark, O., 116 miles. A consolidation of several roads in 1856.
Leased Feb. 13,1869, to Central Ohio Railroad, guaranteed by Baltimore
& Ohio, and new lease made February 23,1880, extending to December
1,1926, with option to the Balt. & Ohio Company to renew for terms
of 20 years each. Rental was $194,350 yearly till 1884; $199,350
in 1884 and 1885; now $201,850 annually. It is operated as Lake
Erie division of the Baltimore & Ohio system. In 1882-83, gross
earnings, $999,128; net, $291,781; in 1883-84, gross $1,062,775; net,
$278,331; in 1884-85, gross, $817,785; net, $119,919.
Ban F rancisco Sc N o r t h P acific.—Owns from Point Tiburon,
Cal., to Cloverdale, Cal., 84 miles; branches—from Fulton, Cal., to
Guemeville, Cal., 16 miles; and Donahue to Petaluma, 8 m iles; total,
108 miles. This is a consolidation of several companies. Earnings in
1885, gross, $569,226; net, $154,276.
S avan n ah F lo r id a Sc W e ste rn .—Owns from Savannah, Ga., to
Chattahoochee, Fla., 258 miles; branches—Bainbridge Junction to Bainbridge, 9 miles; extension to Savannahiwharves, 1-70 miles; Junction
Branch, 4 miles; Dupont to Gainesville, 118 miles; Thomasville to
Albany, 58 miles; Waycross to Jacksonville, 75 miles; total, 525
miles. This was a consolidation in 1865 of the Savannah Albany &
Gulf Railroad and the Atlantic & Gulf under the latter name. The
Atlantic & Gulf road was sold in foreclosure of the second mortgage
on November 4, 1879, subject to the consolidated mortgage and
other prior liens amounting to about $2,465,000. The present com
pany has a capital stock of $5,340,300, which is held in very few
hands and dividends are paid as earned. The earnings in 1885 were
$2,461,613 gross and $468,799 n et; fixed charges, $300,279; surplus,
$164,356. In 1884 gross earnings, $2,239,809; net, $380,707. Fixed
charges, $355,749; surplus, $28,195. H. B. Plant, Pres., New York.
—(V. 40, p. 6 8 3 , 752.)
Savan n ah Griffin Sc N orth A la b a m a . Owns from Griffin,
Ga., to Carrollton, Ga., 60 miles. Operated in connection with Central
Railroad of Georgia. Capital stock, $1,011,245. In 1883-84 gross earn
ings $61,989; net, $16,179. In 1884-5, gross, $58,841; net, $6,244.
Sehenectady Sc D u an esb u rg.—From Quaker Street Junction,
N. Y., to Schenectady, N. Y., 14 miles. Formerly Schenectady & Sus
quehanna Railroad, and was foreclosed in 1873; reorganized and leased
in perpetuity to the Delaware & Hudson Canal Company. Lease rental,
$30.000 per year, paying 6 per cent on bonds. Stock, $100,500.
S c h u y lk ill V a lle y .—Owns from Palo Alto to Reevesdale, Pa.,
11 miles; branches, 8; total, 19 miles. It is an old road, and was leased
to the Phila. & Reading RR. from Sept. 1, 1861, at an annual rental
of 5 per cent on the stock. Operations are included in the Philadelphia
& Reading reports. Has no bonded debt,
Scioto V a lle y.—Owns from Columbus, O., to Petersburg, O., 131
miles. In 1884 gross earnings, $556.983; net. $136,379; rental, $53,476; interest on bonds, $155,400; other interest, $60,470; deficit for
O c t o b er , 1886.
R AILR O AD
S u b s c r ib e r s w i l l c o n f e r a g r e a t f a v o r b y g iv in g
d e s c r ip t io n .
Miles Date
of
of
For explanation of column Readings. &o., see notes Road.
Bonds
on first page of t a b l e s . _________
18o6
iSeattle Lake S. & E ast—1st M-, g-, ^ ’^ ^ ^ c o u p '
31 1882
Shamokin Sunbury A Lewtsburg—1st mort., coup.
1884
2d mortgage.............
29
Shamokin Valley A Pottsville^-SwGK.^^-..................
187Í
28
1st mortgage, gold, on
Wavu'esbo )'''
144 1880
Shenandoah V a lley- 1st m (Hag. to waynesDo.j. . . . 254
1881
254 1883
^ B M ^ o '1
< iAlleilhany~\st m0^ ^ at'm ortgage'
West P e n n s y lv a n ia & S h e n a n g o , 1st m o r t g a g e . . .
Shore Line (Conn.) —Stock..........................................
1st mortgage
Shreveport ^Houston—1st, g. •
öbotmtO
Silver Springs Ocala A Oulf—1st,gold ($ --3,000 p.m.)
Sodus Bay A Southern.—1st¡mortgage, gold...........
Somerset—1st mortgage, gold........................ . . . . . .
South Carolina^-Stock...............................................
1st mortgage, sterling loan.. -................... .........
1st mortgage, dollar h°n(^ (LL^~
.................
1st consol mortgage (for $5,000,000)...................
2d consol, mortgage.................................................
Income mortgage bonds (not cumulative). ------
'5 7
'5 0
50
40
"34
25
247
247
247
247
247
247
181
183
183
So. A No. Alabama—1st M., endorsed by Alabama
Sterling mort., s. fund, guar, by L. & N...............
2d mortgage bonds (owned by L. &
...............
New bonds (for $10,000,000).................................
76
South Pacific Coos«—Stock.....
- ■- - -.........
South Pennsylvania—Stock (for $20,000,000)....... .
1st mortgage (for $20,000,000)— - -- -- - - ...........
114
Southern Cent. (N. 1 J—1st mortgage bonds.........
114
Consol, mort. (for $3,4:00,000) c o n v e r t i b l e . . 4,750
Southern Pacific OOMPANT—Stock ($100,000,000)
1869
1882
Í880
1881
1885;
1884
1871
Í868
1868
1881
1881
1881
1870
1873
1880
1869
1882
STOCKS
AND
8 5
BONDS.
im m e d ia t e n o t i c e o f a n y e r r o r d is c o v e r e d i n t h e s e T a b le s
Roads—Princi
INTEREST OR DIVIDENDS.
pal,When Due.
Size, or
Amount Rate per When Where Payable,, and by Stocks—Last
Par
Dividend.
Outstanding
Whom.
Cent. Payable
Value.
Aug.
1, 1931
N.
Y..
Agency.
•
6 g. F. & A, Phiia. Phil. & Read.RR. May 1, 1912
1,000
<»>
M. & N.
5
1, 000,000
1,000
Feb.
1,
1924
do
do
F. & A.
6
500,000
1,000
1, 1886
F. & A. Philadelphia,Treasurer, Aug.
3
869,450
50
July,
1901
do
do
2,000,000
7 g. J. & J. Last paid Jan., 1885. Jan. 1, 1909
500 &c.
7 g. J. & J. Last paid Oct., 1884. April 1, 1921
2.270.000
1,000
6 g. A. & O.
4.113.000
1,000
Jan. 1, 1923
None paid.
Feb. 1
6
2.500.000
1,000
None paid,
584,969
1889 & 1907
N.
Y.,
N.Bk.
of
Com’rce.
A.
’&
"o.
*7
1.200.000
500 Ac.
July 1, 1912
J. & J. Phila., Fid. Ins.& Tr.Co. July
6
400.000
1,000
8, 1886
N.
H.,
Nat.
N.
H.
Bank,
J.
&
J.
4
1,000,000
100
March,
1910
do
do
4*a M. & S.
200.000
1000&C.
July
1,
1914
New
York.
6 g. J. & J.
400.000
1,000
July
1,
1915
Y., Agency.
6 g. J. & J. N. Y.,N.Penn.
(?) „
July
1,
1924
RR.
Office.
500.000
5 g- J. & J.
1,000
July,
1891
J. & J.
450.000
100
Feb. 1, 1883
I e4,204,160
100
1886 to 1888
London.
5 g. J. & J. N.Y.,Co.’s
244,663
Various
Office, 68 Wm 1886 to 1888
J. & J.
7
523.000
500
Oct. 1, 1920
do
do
A. & O.
6
4.510.000
1,000
Jan. 1, 1931
do
do
J. & J.
6
1.130.000
1,000
Jan. 1. 1931
do
do
Yearly.
6
2.538.000
1,000
Y., Drexel. M. & Co Jan. 1, 1890
391.000
8 g. J. & J. N.
1,000
May 1, 1903
London,
Baring
Bros.
M.
&
N.
6 g.
4,620,110
£200
1910
A. & O. N. Y. Union Trust Co.
6
2,000,000
1,000
100 &e.
(!)
1, 000,000
1,000
(?)
(?)
Aug. 1, 1899
F. & A.
90,000
1,000
F. & A, Last paid Feb., 1886. Feb. 1, 1922
3,299,200
200 &c
88,560,130
100
«-10*010 In 1885, gross earnings were $546,286; net, $91,441;
rents taxes paid, &c.., $31,998; applicable to interest, $54,942. Stock
1a
093 350 A proposed plan of funding interest and placing aUmortr
K l S I S i e A K S e r c o f tto a to d e W o n
was brought forward in the interest of Mr. C. P. Huntington, wno naa a
large judgment against the company, bub was resisted by the 1st'
gage bonaholdersf who organized a strong committee to buy the road od
ioreelosure j ! l ! Robertfon, Chairman, 7 Nassau Street.
Receiver (Jas. Robinson) was appointed in June, 188 a, on a judgment
ofRC .°T Htintoifton for W s o B . F r m l l ^ y ^ p ’ S
©
^
(V. 4 l,p . I ^ l k e -O W M from Portlmoutn, V :C to Weldon,
N C. 80 mfies& 5 the stock, $1,058,700 is com“ ^ | ^ 0 , 0 0 0 i s 1st 7
per cent guar., and $44,200 is 2d guar. Net earnings 1883-84, $186.778,
18ft4-R5 $163 191. J. M. Robinson. Pres.. Balt.» Md.. (V. 40, p. b8b.)
1 S e a ttle L a k e S h o r e & E a s t e r u .-N e w road in progress from
Seattle on Puget Sound to Walla Walla. Bonds are coup, or reg. (See
account.
Receipts—
Total gross earnings
Net earnings............
Other receipts..........
Total netinoome
Disbursements—
Interest on debt—
Interest on incomes
Rate paid on incomes
Miscellaneous...........
1882.
$
1,313,821
501,191
3,497
504,688
1883.
$
1,326,969
432,875
13,890
446,765
1884.
$
1,233,292
382,724
5.880
388,604
1885.
$
1,151,840
328,156
30,271
358,427
357,817
126,900
5
4,149
373,754
76,140
3
2,472
382,722
374,524
252
8,020
Total disbursem’ts
488,866
Balance..................... sur. 15,822
—(V. 42, p. 3 3 7 .)
452,366
def. 5,601
382,974
382,544
sur. 5,630 def. 24,117
-Owns from Decatur. Ala., to Montg<nn^y*1AJa.^<3B^1 miles, with a branch of 6 mfies from Elmore to
^ m o U n ' s u n b w y & L e w is b u r g .—Line from Shamokin to ^etumpka. The road is controlled by the Louisville & Nashville RR.
West Milton, Pa., with iron bridge over Susquehanna. River a,fi
Company which owns a majority of the stock and all of the second mortThe roadwas bullt by Phhadelpjia & Reading, and opened in 1883 for gagePbonds, $2,000,000, due 1910, which are pledged with the Union
iVnai bn as security for the L. & N. bonds, dated June 1,1880. A new
of road, »uabury, Pa. to consol
mortgag^ at 5 per cent has been authorized. 500,000 acres
Mt Carmel, Pa., 27 m&es; branch to Lancaster ColUei3% 2 miles iotal 29 of land in ilabam a, largely mineral, nave
miles The r o l l was leased Februaiy 27,1863, to the Northern Central Louisville & Nashville Co. Common stock, $1,469,082 .preferred stoc^
Railway Company, with a guarantee of interest on the bonds and 6 per 82,000,000. In 1884-85 gross earnmgs were $1,541,289,_ net, ^ 37,4 8 1 ,
centner annum on the stocl. The yearly reports will be found m the Interest and taxes, $560,847; deficit, $23,36o; due Louisville & Nashville
CHROvTci ETith the reports of the Northern Cent. BR. Gross earnings for RR. Co., $1,733,805. (V. 43, p. 218.)
1885. $422,227: net, $263,318. Gross earnings for 1884 $437,827,
Kmit.li P a c if ic C o a s t ( N a r r o w -g a u g e ) .—Owns from Newark to
nAt 4:226 927 Geo. B. Roberts, President, Phila.
s ii e n a n d o a k V a lie y .-F r o m Hagerstown, Md., to Waynesboro and Junction (Felton), Cal., 45 m. leased—Alameda Point to Newark, 25
thenc®e to a connection with the Norfolk & Western road at Roanoke, m • Felton to Santa Cruz, 6 m.; other branches, 4 m.; total, 80 m. There
^ 8 ¿files and branches 17 miles. A close contract for working and an arc no bonds but in Deo., 1884, there was debt due the treasurer
exchange of stock for Norfolk <&Western stock; also a contract with Penn. $1,886,522. Gross earnlags 1884, $743,924; net, $205,074. A. E.
RR for exchange of business was made in 1883, by which the Pennsylr Davis, Prest., San Francisco.
aflndthc Cumberland Val. RR. companies agreed to lay by a certain
K niltli P e n n s y l v a n ia .—The line was in progress between Harrisb.
percentage of tlieir gross receipts from business with the Shenandoah
& Pittsb., 225 miles, making a western extension of toe Phila. & Read
^al. to be used for tne purchase of Shenandoah VaReys general mortg. ing
system. In July, 1885. it was agreed that toe Vanderbilt interest
bonds. In any year prior to October 1,1888, this fund could be apphed should
be transferred to toe Pennsylvania Company, and that com
to the purchase of coupons if the earnings were insufficient to pay pany
offered to give toe South Pennsylvania subscribers $6,500,000
interest. There are in addition to the above outstanding first mortgage
v n_ j a nisc $1 560 000 of same bonds held by trustee of the general bonds of toe Bedford & Bridgeport RR., guaranteed by the Penna.
Co., bearing 3 pec cent interest, in payment for the prop
m o r t l a S a s ^ s e S t ^ The s i s $3,696,20*0, of which $3,057,100 Railroad
erty. other large parties joined with the Vanderbilt interest ana the
negotiation
was practically cmnpleted, when the Attorney-General at
^ ^ March^lSS^^S vdney^F^Tyle^was^ippointed receiver, on applicabrought a suit to enjoin toe transfer, and this suit in
iion S
F id eli^ In su ra n tT ru st & Safe Deposit Co. The April >85 Pennsylvania
Oct., ¿ 8 6 , was decided by the Supreme Court of Pennsylvania agamst
. OfflM,
‘ T o ^ e U t m S M f r o m Jan. 1 to Aug. 3 1 ,grossearnmgs were$448,111 the transfer to Pennsylvania Company, ^ h t . H. ^ j^ e ,
.In I8865against $135,812 in 1885; net, $41,315 in 1886, against a de- Harrisburg. (V* 4:1, p. 77, 103,134, 155, 24:3, 273, 307, 357, 4 a l, 4x0,
V. 42, p. 94, 148; V. 43, p. 488.)
fl Tn °18854gro8S ta m in g s were $694,892; net, $24,731. See annual
Southern Central (N . Y . ) —Owns from Fadrhaven, N.Y., to Penn
sylvania State Line, 114 miles. Leases toe Ithaca Auburn & WestemFreeville to Auburn, 38 miles; State Line to Sayre, 2 miles. Total
operated, 154 miles. Road forms an extension to Lake Ontario for toe
Lehigh Valley Railroad, in the interest of which company it is oonButler, 24 miles, under construction in 1883. Tne company maae teoUecL A readjustment of funded debt was made m 1882 on toe present
default in 1879, but the October coupons were paid Feb. 21,1380. Road basis The new 5s are convertible into stock at option o f holders witlfin
went into hands of receiver, and foreclosure proceedings b e ^ n m June, ten years, and $100,000 are held in trust to retire the prior bonds due in
1885, and road to be sold. Stock, $200,000.
««^ Y rIP Thos8p 1899.BCompany defaulted on August, 1886, coupon Earnmgs forquar$147,053; net, $48.858- Gross 1884, $185,991, net, $65,183. _ Thos. P. tor ending June 30 were $120,678 m 1886, agaiost $107,478 m 1885,
Fowler, receiver, N. Y. City. (V. 40, p. 717; V. 41, p. 134,421, V.42, p,
i’l v e r S p r in g s O ca la & G u lf.—This road is in progress from Sil
▼er Springe, Fla., to Point Pinellos on Tampa Bay, about,1 5 0 miles
«Capital stock, $1,500,000. Thos. C. Hoge, President, 56 Wall St.
J , L i n e (C o n n .)—Line of road, New Haven, Conn., to New
London, Conn., 50 miles. Leased to New York & New Haven RR. Co. in
ppr-w./i+ir
. 1870. at $100.000
erpetiuty xrmr.
Nov. i1,1870,
$100,000 net per annum. Chartered as
a New
Hiaven <fe New London RR.; sold in foreclosm-e and reorganized under
present Title June 29,1864. Dividends 3ie in Jan. and 4 m July. Opera
tions »nd earnings are included in the reports of the lessee.
S h r e v e p o r t del H o u s t o n .—From Shreveport, La., to Logansport,
La., 40 miles; connects with Houston East. & W. Texas road, forming
with that a narrow gauge line of 230 miles from Shreveport toHouston. E. L. Bremond, President.
_____
v
„
. , _.
S o m e r s e t.—Oakland, Me., to Anson, Me., 25 miles. Capital stock
$379,050. In September, 1883, the bondholders took P0s®®881.0 n ®^d
pared to reorganize the company. Gross earnings.in 1883-84, $31,162,
net, $4,175. Gross in 1884-85, $30,860; net, $5,864.
...
S o d u s B a y Sc S o u th e r n .—From Sodus Pomt to a junction with
toe Elmira Jeff. & Canandaigua at Stanley, N. Y., 34 miles. The Ontario
Southern was foreclosed Nov., 1882, and this company organized. The
stock is $500,000, owned by Northern Central RR. Co., b y which the
road is^perated. Deficit in 1884-85 under interest, $88,739. <V.40,p.
S o u t h e r n P a c if ic C O M P A N Y ..—This corporation was organized
Aus 14 1884. under the laws of the State of Kentucky. It holds most
of toe stock of the Southern Paoiflo of California and the other railroads
connecting with it to New Orleans, and leases each of those roads; also
has a lease of the Central Pacific for 99 years. The last report had toe
following statement of toe total stock of each of the saiu oompanieB
owned by the Southern Pacific Co. Dec. 31, 1885, and the table also
shows the percentage of net profits of the whole system payable under
toe lease to the several lessor companies.
_ „ .
Total stock JP•c•ofi
o f company, profits.
Name o f corporation.
Stock owned.
$44,039,100
So. Pac. RR. Co. of Califomia.$43,684,900
12
19,995.000
So. Pac. RR. Co. of A rizon a ........... 19,995,000
4
6.888,800
So. Pac. RR. Co. of New Mexico . . .
6,688,800
221«
5,000,000
Mor. L. & Texas RR. & SS. Co. . . . .
4,062,700
le t *
27,085.100
Gal. Harris. & San An. Ry. C o ....... 25,812,000
71*
5 ,000,000
Texas & New Orleans Ry. Co.........
5,000,000
3 ll
3,360,000
3,360,000
Louisiana Western RR. Co.
4,922,100
Mexican International RR. C o ......
4,172,100
814,800
New York Texas & Mexican........... ............ 594,000
$117,104,900
Total...............................«.:$ !13,369,500
^ 's o u t h * C a r o lin a .—Owns from Charleston to Augusta, S. C., 137 m., Galv. Har. &San Ant.,West. Di v.,]6s. 1.110,000
branches to Columbia, 68 m., and to Camden, 38 m.; extension.4 miles,
»total main line and branches, 247 m. Default was made and the road T0S ! » m a? ^ f c V A u g : 3 ^
sold in foreclosure July 28, ’81. and toe company was reorganized with
S
'■ r a e “ ^ S p “ r t S ei885 w » in tne OHnoniOL., V . p . 337.
'
INVESTORS’
SUPPLEMENT
O ctober , 1886. ]
RAILROAD
STOCKS AND
BONDS.
87
Subscribers w i ll confer a great favor by g iv in g im m ediate notice o f any error discovered in those T ables.
Bonds—Princi
INTEREST OR DIVIDENDS.
pal,When Due.
DESCRIPTION.
Miles Date Size, or
Amount
Stocks—Last
Where
Payable,
and
by
Par Outstanding Rate per When
of
For explanation of column headings, &c., see notes of
Dividend.
Whom.
Payable
Cent.
Road. Bonds Value.
on first page of tables.
Mar.,
1909-10
New
York
City.
J.
A
J.
6
g.
$10,000,000
South. Pac. o f Arizona—1st mort., gold,cp. or reg... 384 *79-’80 $1,000
A 1912
6 g. A. A O. N. Y., Mills Building. 1905-6
South. Pac.(Oal.)—1st mort. »gold,land gr., cp. or reg. 955 ’75-’82 500 Ac. 32,220,000
April
1,1900
do
do
A.
A
0.
5
250,000
1,000
15 1880
Monterey, 1st mortgage ...........................................
Jan.
1,
1911
4,180,000
6 g. J. A J. N. Y., Company’s Office June 22,1886
1,000
Southern Pacific o f N. Mexico—Mort., coup, or reg .. 167 1881
5,049,300
3 ^ J. A D . Savannah,Cent.KK. Bk.
100
Southwestern ( tía.)—Stock, guarant’d 7 per annum 321
M. A S. Phila. and Greensburg. Sept., 1886
5
816,500
44
Southwest Pennsylvania—Stock.................................
Feb., 1917
F. A A. Philadelphia Office.
7
962,000
1,000
1877
1st mortgage................................ — - - - .........----May 1, 1936
M.
A N. Northern Pacific RR.
6
g.
688.000
1,000
Spokane dtPalouse—1st M. gold ($16,000 per mile). *43 1886
July, 1886
New
York.
4 ” J. A J.
989,000
6
Spuyten Huyvil dtPort M om s—Stock........................
J. A J. N Y.. Union Trust Co. Jan. 1, 1899
7
200,000
24 1879 100. Ac.
State Line dt Sullivan—1st M., conv. (red’ble aft.’88)
April
1,1893
N.
Y.,
S.
I.
Rap.
T.
Co.
A. A O.
7
300,000
1,000
13 1873
Staten Island—1st mortgage......................................
6 g. A. A O. N. Y., Lond. A Glasgow. Jan. 1, 1913
1,000,000
1,000
Staten Island Rapid Tran.—lstm ., $ or &, cp.orreg. All. 1883
Jan.
1,
1926
New York.
2,500,000
5 g. J. A J.
1,000
1885
2d mort. (for $2.500,000) guar.by B.& O. cp. or reg
January, 1946
....
4.500,000
6 g.
1,000
1885
Incomes, gold (non-oum.).........................................
July
7,
1895
Feb.
7
475,674
1,000
7% 1881
Sterling Mountain (N .Y.)—1st mort., income, guar.
J. A J. N. Y.. Central Paciflo. January, 1905
5
500,000
45 1875 500 Ac.
Stockton dt Copperopolis—1st mort., (guar, by C. P.)
600,000
—
Suburban Rapid Transit—Stook ($6,600,000)------....
1st mortgage bonds...................................................
F. A A. Phila., 233 So. 4th St. Feb. 16,1876
"s’
4,125,000
*50
20
Summit Branch (Pa.)—Stock — i .............................
Jan. 1, 1904
do
do
J. A J.
7
1,185,000
1,000
20 1874
1st mortgage bonds..................—
..............
M.
A N. Philadelphia, Penn. RR. May 1, 1928
5
1,189,000
1878
43
Sunbury Hazleton dt Wilkesbarre—1st mortgage.. . .
May
1, 1938
do
do
M. A N.
6
1,350,000
43 1878
2d mortgage...............................................................
J. A J. Phila., Guar. T. A D. Co July 1, 1896
500,000
7
500
43
1876
Sunbury dt Lewistown—1st mortgage.......................
Yearly.
500,000
7
23
Suspension Bridge dtE rie Junction—Stock...............
J. A*J. N. Y. Lake Erie A West. July 1, 1900
1,000,000
7
1,000
23 1870
1st mortgage...............................................................
Q.—Mar N.Y., D. It. A W. RR. Co. Sept. 1, 1886
2
2,500,000
100
81 1875
Syracuse Binghamton dt N. Y.—Stook........................
June, 1887
do
do
J. A D .
270,000
7
1,000
81 1867
2d mortgage (now first)............................................
Oct. 1, 1906
do
do
A. A O.
7
1,750,000
1,000
81 1876
Consol, mortgage (guar. D. L. A W.)......................
Nov.
15,1905
N.Y.,
Farmers’
L.A
T.Co.
M.
A
N.
928,300
7
57 1875 100 Ac.
Syracuse Geneva dt Corning—1st mortgage .............
Mar. 1, 1909
M. A S.
5
600,000
1,000
1879
' 2d mortgage.................................. - - .........................
1933
....
900,000
Syracuse Ontario dtNew York—Bonds....................... "4*3 1883
1983
........••
6
500.000
1883
2d mortg., income..........................- - - - - - - - - -•- ■—
F. A A. N.Y.,Farmers L.A T.Co. Aug. 2,1886
3
1,401,880
50
Terre Haute dt Indianapolis—Stook ($1,988,150).... 114
1993
do
do
A. A O.
1,600,000
7
1.000
1*873
Bonds of 1873 coupon & reg....................................
The annual report for 1885 was in V. 42, p. 781. The earnings of the
whole system (4,698 miles) for the ten months showed a surplus over
all charges of $184,205, and a further income from the dividends on
stocks oi leased lines owned of $1.011.087. (V. 41, p. 23, 134, 210,
373, 496, 722, 745; V. 42, p 94,156, 157, 243, 272, 305, 366, 464,488,
632, 754, 7 8 1 ; V. 43, p. 103, 218, 335, 460.)
Sou th ern Pacific o f A rizo n a .—This is the connecting line of the
South. Pacific of Cal., extending from Yuma to N. Mexico boundary, 384
miles. The stock is $19,995,000. The bonds oonsist of Series A $6,0 00
000, due 1909, and Series B, $4,000,000, due 1910. Operated under lease
to Southern Pacific Co., the lessee paying all charges and also 12 per cent
of the net profits (if any) of the whole Southern Pacific system. In 1885
the gross earnings were $1,564,702, and surplus over all charges $148 029. From Jan. 1 to May 31 gross earnings were $662,839 in 1886,
against $689,718 in 1885; net. $323,647, against $399,789.
S o u t h e r n Pacific ( o f C aliforn ia). (See Map.)—L in e of R o a d .—
The road in California is in two divisions—the North. Div. from San Fran,
to Tres Pinos, lOO^ miles; Camadero June, to Soledad, 60*2 miles; and
leased line, Castroville Juno, to Monterey, 15 miles; Santa Cruz RR., 26
m.; total in North. Div., 202 miles;—the South. Div., Huron via Goshen to
Colorado Riv., 529 miles; Los Angeles via Wilmington to San Pedro. 27
miles; total South. Div., 552 miles; total South. Pacific m Cal., 751 miles.
At Goshen the Southern Div. meets the San Joaquin Branch of the Cent.
Pac., bv which it reaches San Francisco and the mam line ofCentral
Pacific. At Yuma, connects with its closely aiHliated lines extending
to Galveston and New Orleans.
__
Ok ganization , &c.—The Southern Pacific was a consolidation Oct. 12,
1870. of several lines in California. The Central Pacific RR. leased
the southern division, but in March, 1885, this lease was annulled and
the whole line was leased to the Southern Pacific Company on the basis
of lessees paying all charges, and giving to this com pany 2 6 ^ per cent
of the annual net profits of the whole S. P. system. In October,
1884. sold 242 miles of road on certain terms to the A. & P., extending
from the western terminus of the A. & P. to Mojave; and nghtof way over
the balance of the line to San Francisco is secured at a fixed rental. (See
terms of this agreement in Sti Louis & S. F. report in C h ronicle , V •40,
formed Deo. 2,1874, under the presentname. Stock, $990,000 (par $50).
The mortgage covers 5,000 acres coal lands. In May, 1884, this road was
leased to the Penn. & N. Y. Canal & RR. Co. for fifty years, at $36,000
per annum for three years and$40,000 afterwards. (V. 40, p. 94.) „
Staten Island*—Local road on Staten Island, Clifton to Tottenville, 13 miles. Road is operated in connection with Staten Island
Perry Company. Capital stock, $910,000, par $65 per share. Ih. Oct«*
1883, leased to Staten Island Rapid Transit Co. One per cent dividend
paid quarterly, January, April, June and October, on the stock.
S ta ten I s la n d R a p i d T r a n s it R R .- T h is Co. was incorporated
ander the general law of New York State. The line of road is around,
the Staten Island shore, east and north sides, from Vanderbilt^ Landing
(1unction with the S. I. Railway) to a point opposite EUzabethport, N.
J. It has a 99 years’ lease of the S. I. Railway and controls the Ferries
to N. Y. City. In November, 1885, the agreement with Balt. & Ohio
was reported for making the terminals of that RR-Co. at New Brighton,
bv means of a bridge over the Kills at Elizabethport. The B. & O.
guarantees the 2d mort. bonds of this Co., and owns a majority of its
stock of $500,000. The income bonds are held by the B .& O . and S. I.
R. T. cos., one-half each. Gross earnmgs in 1884-5, $122,989 ; n ^ ,
$55,074; def. under interest, taxes, Ac., $80,773. (V. 41, p. 611, 653, V.
^ S terlin g M o u n ta in (N . Y .) - R o a d runs from Sterlington on the
Erie Railway to Lakeville, 7-6 miles. Bonds guaranteed by Sterling Hon
& Railway Co. Stock, $80,000. Earnings in 1883-84, $40,325 gross
and $10,125 net; in 1884-85, $26,216 gross and $9,876 net.
Stockton 8c C opperopolis.—Present company is a consolidation,
made Nov. 17,1877, of the Stockton & Copperopolis and the Stockton A
Visalia. Line of road, Stockton to Milton and Peters to Oakdale,Cal., 49
miles. Leased to Central Paoiflc Railroad Company for thirty years
from December 30.1874. By the terms of the lease the lessee agreesto
oav principal and interest of the bonds. Capital stock, $234,500. The
sompany previously made default July, 1874, and the $1,000,000 of
old bonds were exchanged for the present issue guaranteed. In 1883,
gross earnings, $76,817; net. $13,063.
, ...
. i. Q
Suburban R a p id T r a n sit.—This company has built a bridge
across the Harlem River, N. Y. City, and will soon be in operation to
P Stock an d B onds .—The authorized stock is $90,000,000, of which 165th Street, N. Y. Little information has yet been obtainable concern
$44,039,100 has been issued and is held mostly by the So. Pacino Co. ing its finances. In July, 1886, the Manhattan Elevated stockholders
The bonds above are m series A, B, C ,D ,E and F, of wluch A included were offered the privilege of taking its stock and bonds. Samuel R.
$15,000,000 and B, C, D and E each >$o,000,000, and F $582,900. Filley, President, 40 Wall Street.
The series A, B, C and D mature in 1905-6, the senes E and F in 1912.
S u m m it B r a n c h . ( P a .) —This company leases the Lykens Valley
A series of G bonds is also authorized to be issued for new road con RR.,
and it has a small branch of its own to Summit Mines, % of a, mile.
structed. The bonds are a mortgage on the lands, and as proceeds or The road
is operated by the Northern Central under contract. Raffle is
lands come into the hands of the trustees, bohds are purchased and almost exclusively coal. Gross receipts in 1884, inolud. coal, $1,689,124»
retired. There is also a sinking fund of $100,000 per year.
_
, o net, $324,014; int. and advan., $218,911. Gross in 1885, $1.402,405 ,
L and G r an t .—The land grant was 12,840 acres per mile, and proceeds
of sales go to retire bonds. The total grant is estimatedto furnish net, $174,646; interest, $83,195; net profit in 1885, *116,529, against
10,445,227 acres, but a large proportion of the lands
barren aad $233,323 in 1884. (V. 40, p. 208.)
Sunbury H a z le to n 8c W ilk e sb a r r e .—Sunbuty to Tomhioken,
useless for agricultural purposes without irrigation. In 1885 the sales
were 362,254 acres for $845,783; land bonds redeemed, $613,000, Pa., 43 miles. Foreclosed March, 1878. Stook, $1,000,000. The Penn.
Railroad has a large interest in it. Gtross ea,rnmgs in !885, $493,197,
K
n X ’ outstanding D e^ 31,1885, $2 213,199.
The nrmnn.1report for 1885 was published in the Ch ronicle , V. 43, p. net, $267,255. J. N. Du Barry, President, Philadelphia. (V. 43, p. 275.)
274. Income account was as follows: Net profit uuder_the
Sunbury 8c L e w i s t o w n . —Selinsgrove Junction to Lewistown,
all charges, $208,381; proportion of net profits of Southern Pacific Pa., 43 miles. Leased to Pennsylvania ER Company under the lease, $308,143; total net profits, $517,125.
net earnings, which in 1883 were $132,285; in 1884, $105,855, in 1885,
—(V .41, p. 23, 24, 77, 89, 134, 273; Y. 42, p. 148, 350, 78 1 ; V. 43, p. $168,268. Stock, $600,000 and div’s of 6 per ct. a year have been paid.
27-4
B rid ge 8c E rie J u n ctio n .—East B i^alo Junction
S o u t h e r n Pacific o f N ew M exico.-R o ad extends from Ari toSuspension
Niagara Falls and Suspension Bridge, 23 miles; Lock. & Buff. RR.
zona State Line to the Rio Grande at El Paso, Texas, 167 miles. Cper leased,
14
miles;
operated, 37 miles. Road opened January, 1871.
ated under lease to Southern Pacific Company, the lessee paying all It is leased to Newtotal
York Lake Erie A Western Railroad Co. at 30 per cent
charges and 4 per cent of net profits (if any) of the whole So. Pacific- of gross receipts, which
are guaranteed to be not less than $105,000 per
system. Stock, $6,888,800. Gross earnings in 1865 $683,249; surplus
___ _
Lessees own all stock except 297 shares.
over charges, $127,133. Gross earnings from Jan. 1 to May 31, $296,487 annum.
Syracuse
B
in
g
h
a
m
n 8c N ew Y o r k . — Owns from Gcddes,
in 1886, against $292,180 in 1885; net, $158,379 against $ 1 7 3,7 8 4 ^ ^ N Y . to Binghampton, N.to
Y., 81 miles. Chartered as Syracuse A Bing*
s n n tiiw p K te rn iG a .)—From Macon, Ga., to Eufaula, 144 miles; hamton and opened Oot. 23, 1854; foreclosed and reorganized April
has 177 n S e s o f branches, the main one ^
rb
30, 1857, and leased to Delaware Lackawanna A Western. In 1883-84
umbus, 71 miles. A lease was made Aug. 1,1869, to the Central RR. cross earnings $808,934 ; net, $344,285; interest, $141,400; divlo f Georgia which assumes the liabilities and guarantees 7 per centon f fe n ia f s T e ? ’c e n t ) ? $200,000.’ In 1884-’85, gross! $692 761; net,
the stock, but 8 per cent is to be paid if 10 per cent is paidon Central $275,329; Sit. $141,400; div. (4 p. c.), $100,000; surplus, $33,929.
stock. In June, 1881, $32 per share in 6 per cent debt certificates was
S y r a c u s e G e n e v a 8c C o r n ln g .-O w n s from Coming, N. Y., to
declared by Central Georgia Railroad.
Geneva. N. Y., 57 miles. This road was opened December 10, 1877.
S o u th w est P e n n s y l v a n ia .—Greensburg, Pa., to Fairchance, Pa., and is leased to the Fall Brook Coal Co. at a rental of 33*3 per cent
44 miles. Opened April 1,1873, and leased to Pennsylvania Railroml, of its gross earnings. Stock is $1,200,000. In 1884-85 gross earnings
which operates it at cost, paying net earnings as rental. In 1885 were $671,690; net, $163,611; rental, $223,897; taxes, $10,559;
n o ss earnings were $562,920 and net earnings, $249,438. Interest on deficit to lessee, $70,844. In 1883-4, gross, $678,370; net, $267,237;
M ods and 10 per cent on stock were paid out of net earnings of 1883 rental, $226,123; miscellaneous, $65.070; loss to lessee, $23,856.
Syracuse O ntario A; N ew Y o r k .-O w n s from Syracuse, N .Y .,
RIfh»olcane & P a lo u se.—From Marshall, Wyoming T., on the North. to EarlvUle, N. Y., 4 3 ^ miles. The Syracuse A Chenango
road
was sold in foreclosure and a new company organized Marcn x*,
Pacific, 43 miles southeasterly. The road is leased for 999 years to the
North. Pacific, which company guarantees the interest and sinking fund 1873, under the name of Syracuse A Chenango Railroad. A p m w ,
1877,
road was again sold in foreclosure and reorgamzedas^Syrao f the bonds; the bonds are redeemable after 1896 at 105. (Y. 43, p.
cuse Chenango A New York, which also became
P^ d e r
into
the
hands of a receiver January, 1879, and morgamz^.
^ S iin v te n D u v v e l 8c P o r t M o r r i s .—Road is 6 miles in length and
connects the New York Central & Hudson with the New York & Harlem. present name in 1883. The N. Y. West Shore A Buffalo 1ms « n p ^ e d
Leased to New York Central November 1,1871. Rental is 8 per cent on control of the property. Stock, $404,600. . Eamlngs in l8|3-84, groM,
$98.361; deficiency after charging out ^ t e r e s t ^ c o ^ t , ^ 4 ,8 6 9 . Ik
capital stook of $989,000. Operations are included in lessee s returns.
c . . v in e 8c S u lliv a n .—Owns from Monroeton, Pa., to Berenice. 1884-85 gross earnings $91,596; deficiency after charging interest,
Pa.» 25 miles. Originally organized as Sullivan A Erie Coal A Railroad $73,096.
8 8
USTYESTOKS’
SUPPLEMENT.
[V ol .
x l iii
O c t o b e r , 1886,]
RAILROAD
STOCKS
AN D
89
BONDS.
Subscribers w ill conifer a great favor by g iv in g im m ediate notice o f any error discovered in those Tables«
INTEREST OR DIVIDENDS.
DESCRIPTION.
Miles Date Size, or
Amount Rate per When Where Payable, and by
Par Outstanding
of
For explanation of column Readings, &c., see notes of
Whom.
Cent. Payable
Road. Bonds Value.
on first page of tables.
116
Terre Saule <£ Logansport.—Stock....................
93 1879
1st mortgage, guar, by Terre Haute & Ind’napolis
65 1883
1st mortgage, extension (2d on 93 miles)...............
Texas Central—1st mortgage, g o ld ............................ 177 1879
52 1881
N. E. Div., mort., gold (2d on 177 miles)...............
General mortgage, (pledged).................................... 228 1884
Texas-Mexican—Corpus Ch.S.D.& R.G., 1st M., gold. 16) 1880
1st mortgage, gold ($15,000 p. m .)......................... 165 1881
Texas <&N. Orleans o f ’74—1st mortg. land gr., coup 105 1875
104 1882
Sabine Division, 1st mortgage, gold...............
1883
Debentures.......................................................
1,487
Texas <kPacific—Stock.........................................
524 1875
1st mortgage, gold, coup. (E. D iv .)...............
524 1875
2d mort., consol., gold, coup. (E. D iv.)..........
524 1875
Income and land mort., E. Div.. reg.............
’79-’85
Scrip for int.oninc.mort.(red’mable inst’kor land)
521 1880
1st mort., gold, Rio Grande D iv ision ..........
1880
336
New Orleans Pacific, 1st mortgage..................
1,487 1884
General and terminal mortgage ($6,500,000)
1882
Texas Western (N. G.)—1st mortgage........ .—
54 1852
Tioga RE.—1st mortgage, due 1882 and extended.
1876
54
Consolidated mortgage...................................
20 1875
Extension bonds...............................................
7 1875
Elmira State Line Railroad mortgage..........
61 1881
Toledo Ann Arbor & N. Mich.—1st (T. A. A. &
111 1884
1st mort., gold, No. Div. (for $2,100,000)...
55
Toledo Canada Southern <&Detroit—Stock.......
$50
1,000
1,000
1,000
1,000
1,000
1,000
1,000
1,000
1,000
100
1,000
1,000
1,000
1.000
1,000
1,000
1,000
1,000
Terr© H a u te & In d ia n a p o lis.—Owns from Indianapolis to Illi
nois State Line, 79 m., with coal branches, 34 m.; total, 113 m. The road
was opened in 1852 (as Terre Haute & Richmond). The company leases
and operates the Terre Haute & Logansport RR., also the St. Louis
Vandalia & Terre Haute Road on joint account with the Pittsb. Cm. & »t.
Louis RR., at 30 per cent of gross earnings, but guarantees the first and
second mort. bonds. In 1883-4, gross earnings, $1,127,388; total net
income, $375,056; interest and 8 per cent dividends, $271,052; loss on
T. H. & L . lease, $83,449; loss on St. L .Y . & T. H., $14,310; surplus
for year, $6,245. In 1884-85 gross earnings, $1,060,631; income, $358,470; interest and6 p. ct. dividends. $231,289: loss on T. H. & Logans,
lease, $76,634; betterments to T. H. & L. road, $45,202; surplus for
year, $5,345. (V. 40, p. 356.)
T erre H a u te & L o sa n sp o r t.—Owns from South Bend, Ind.
to Rockville, Ind., 159 miles; leased, Rockville to Terre Haute, 22 miles.
Total operated, 162 miles. Formerly Logansp. Crawfordsv. & Southw.,
which was sold in foreclosure Sept. 10, 1879, and reorganized under
present name. Leased by Terre Haute & Indianapolis Railroad for 2»
per cent of gross earnings, and first mortgage bonds guaranteed by
that companv. Rental in 1883-84, [$85,526; loss to lessee, $83,449.
Rental in 188*4-85, $108,562; loss to lessee, $121,836.
T e x a s C e n tr a l.—Line of road from Ross, in McLennan Co., to
Albany, Texas, 177 miles; Garrett to Roberts, 52 miles: total, 229
miles. Is controlled in Houston & Texas Central interests, by which
company it is operated; but accounts are kept separate. The authorized
stock is $1,000,000; total issued, $130,200, of which H. & T. C. holds,
$50,000; Morgan Co., $75,000; directors, $5,300. Defaulted in interest
in 1885. The gross earnings in 1885, Jan. to Nov. 30, were $238,709;
net, $41,248. In 1884. gross, $283,637; net, $45,707. C. A. Whitney,
Pres.,N. O. (Y. 42, p. 61.)
$500,000
500,000
1,000,000
2,145,000
1,254,000
2,286,000
960,000
1,380,000
1,620,000
2,075,000
584,000
32,164,600
3,784,000
9.316.000
8.251.000
2,240,000
13,028,000
6,720,000
2,859,000
12,000 p. M.
239,500
125,000
265,000
160,000
1,260,000
800,000
1,547,662
é
6
7 g.
7 g.
6
7 g.
6 g.
7
6 g.
6
" ¿ ‘ g.
6 g..
7
6
6 g6 g.
6
6
5
7
7
7
6 g.
6 g.
J. & J N.Y., Farmers’L.& T.Co.
do
do
J. & J.
M. & N Last paid Nov., ’ 84.
Last paid Nov., ’84.
M. & N
M. & N. Last paid Nov., ’84.
...............
J. & J.
J. & J
F. & A N. Y., Company’s Office.
do
do
M. & S.
do
do
J. & J.
Stocks—Last
Dividend.
Jan. 1, 1910
Jan. 1, 1913
Nov. 1, 1909
May 1, 1911
Nov. 1, 1934
July 1, 1910
July 1, 1921
Aug. 1, 1906
Marob 1,1912
1893
M. & S. Last paid Sept., 1885. March 1, 1906
J. & D. Last paid Dec., 1885. June 1, 1906
July. New York& Philad’phia Jan. 1, 1915
F.
J.
A.
F.
M.
M.
A.
A.
J.
M.
&
&
&
&
&
&
&
&
&
&
A. Last paid Aug., 1885
J. Last paid July, 1885
O. Last paid Oct., 1885
A.
N. Phil.,Newbold Sons &Co
N.
O.
O.
J. N.Y., Farmers’ L.&Tr.Co
N. N. Y., Cent. Trust Co.
Feb.
July
Oct.
Feb.
Nov.
Nov.
Oct.
Oct.
Jan.
May
1,
1,
1,
1,
1,
1,
1,
1,
1,
1,
1930
1920
1905
1922
1915
1896
1905
1895
1921
1924
have cost about $350,000; they are also a mortgage lien on the whole
road, subjeot to the prior mortgages.
In 1884 the company became embarrased and the coupons due June1
1, 1884, on the consol, bonds E. D., were bought at par for the Missouri
Paciflo Railroad. An arrangement for funding half of the coupons for
four years was made. See V. 39, p.674. This arrangement ended1
with the part payment of coupons due August, 1885.
In Deo., 1885, L. A. Sheldon and John C. Brown were appointed re
ceivers of the company on application of the Mo. Pacific RR. Co. See
the bondholders’ committee’s report, &c., in V. 41, p. 714)..
There was much difference in regard to controlling the new
company between the Wistar plan, which appeared to be to
the interest of the Missouri Paciflo Railroad as holder o f the
floating debt,
and the Fleming-Olcott soheme of reorgani
zation. The various phases of the oontest were commented upon at
much length in the Chronicle ;, Vols. 42 and 43, at the pages indexed
below, and the combination plan formed by the junction of the two
committees was mentioned in V. 43, p. 163,191, 218.
In 1886 gross earnings from Jan. 1 to June 30 were $2,530,087, and
net, $222,319.
No report for 1885 was issued, but the gross earnings were $5,826,401, and the net, $1,095,619. The report for the year 1884 was to V. 40;
p. 202, and had the follow ing:
INCOME ACCOUNT.
1884.
$5,918,756
$783,932
129,124
1882.
Gross earnings...................... ....$5,919,732
Net earnings......................... ....$1,343,292
346,f i l l
Other income....................... . . . .
1883.
$7,045,652
$1,648,007
392,791
Total net receipts........ ....$1,689,803
Deductions—
Interest on debt................... ....$1,670,950
137,333
Taxes and other charges__ . . . .
$2,040,798
$913,056
$1,970,085
244,317
*$1,970,190
287,152
T e x a s - M e x ic a n .—Owns from Corpus Christi, Tex,, to Laredo on
the Rio Grande, and branches, 168 miles. Charter covers 1,400 miles
in all. Under same control as the Mexican National, and in November
$2,214,402
$2,257,342
Total deductions......... ....$1,808,283
1883, a lease for 99 years was made to the Mexican National Company.
$173,604
$1,344,286
Deficit..........................
Rental in 1885, $162,000; surplus over interest $6,512. W. J. Palmer,
* Full interest charge, but interest was not all paid, partly funded.
Pres’t. Land grant was 16 sections per mile, but not located. Stock
—(V. 41, p. 190, 714; V. 42, p. 23, 61, 94, 207, 293, 464, 519, 550, 575,
authorized $12,000,000.
604, 632, 664, 695, 729, 754, 783; V. 43, p. 12, 41* 73,10 3 ,1 2 5 ,13 3 ,
T e x a s & N ew Orleans ( o f 1 8 7 4 ).—Houston, Tex., to Orange 163,191, 218, 275, 309, 369, 399, 400, 432.)
(Sabine River), 104 miles; and Sabine City to Rockland, 1 0 4 m iles;
T ex a s W e ste rn .—Projected from Houston, Tex., to Presidio Del
total 208 miles. Belongs to the Huntington Southern Pacific system, Norte, Tex., 900 miles. In operation. Houston to Sealey, 52 miles, con
together with the Louisiana Western. This was a reorganization, 1874, necting
with Gulf Col. & S. Fe RR. Stock authorized, $3,000,000. Land
of the old Texas & New Orleans RR. The stock is $5,000,000, and grant 10,240 acres per mile. (V. 40, p. 562.)
a controlling interest is owned by the Southern Pacific. In addition to
above bonds, there are $486,507 Texas School bonds. Gross earnings
T io g a .—Owns from Am ot, Pa., to State line New York, 44 miles ;
from Jan. 1 to Aug. 31, $625,027 in 1886, against $631,273 in 1885; branch, Blossburg, Pa., to Morris’ Run, Pa., 4 miles; leased, Elmira
net, $262,556, against $274,098.
State Line Railroad, State line New York to Northern Central Rail
For year 1885 annual report was in Y. 42, p. 574; gross earnings were way Junction, 7 miles; and Arnot & Pine Creek RR., Arnot to Hoyt$1,017,618; net, $462,273. C. P. Huntington, President, New York. vilie, Pa., 12 miles; total, 67 miles. Controlled by N. Y. L. E. & W.
—(V 40, p. 61,153, 305, 394, 4 3 3 , 741; V. 41, p. 23,134, 216, 357, 745; The stock is $391,200 com. and $189,700 pref. In 1884-85, gross earn
V. 42, p. 243. 5 7 4 ; V. 43, p. 133, 163.)
ings, $343,617; net, $170,059; in 1883-84 gross, $389,841; net, $142,021;
interest, $57,851; surplus over all payments, $65,286.
T ex a s & P acific.—(See Map M issouri Pacific.)—Eastern Division —
Toled o A n n A rb or & N orth M ic h ig a n .—(See Map.)—Own*
From Texarkana to Marshall and thence to Fort Worth, 253 miles;
Texarkana Junction to Whitesboro, 239 miles; Marshall to Shreveport, from Toledo, O., to Mt. Pleasant, Mich., 172 miles, which oames the
40 miles; total eastern division, 532 miles. Rio Grande Division— road into the heart of the lumber region of Michigan. Capital stock
Fort Worth to Sierra Blanco, 524 miles; Sierra Blanco to El Paso(joint is $2,700,000. The old first mortgage on 61 miles covers the Southern
track), 92 miles; Gordon Branch to coal mines, 3 miles; total Rio Divicion, formerly called the Tol. Ann Arbor & Grand Trunk Railroad.
Grande division, 619 m. New Orleans Division—(Formerly N. O. Paci The annual report for 1885 was in V. 42, p. 548; the net earnings
fic RR.) Shreveport to N. O. and Baton Rouge Branch, 336 miles. were in excess of interest charges. The report showed gross earnings
on Southern Division, $261,959; net, $111,767; Northern Division
Total of all, 1,487 miles.
The Texas & Pacific was built under act ot Congress of March 3,1871, (under construction) gross, $39,266 ; net, $13,353. The interest pa y
and other acts in 1872 to ’74, and the laws of Texas. This company suc ments were $103,000 in 1885, and surplus, $17,000. James M. Ash
ceeded to the right of the Memphis El Paso & Pacific Railroad and other ley, President, 150 Broadway, N. Y. (V. 40, p. 5 6 8 , 764; V. 42, p. [26 ,
companies. By a contract made in January, 1880, with the Pacific 272, 397, 5 4 8 , 549.)
Railway Improvement Company, the road was extended towards El
T o led o Canada Southern & D etroit.—Toledo, Ohio, to Detroit
Paso on the Rio Grande, to meet the Southern Pacific of California, with (G.T.
Junction), Mich., 55 miles. Road opened September 1,1873. Oper
25,000 in bonds and $25,000 in stock per mile of road. The Fidelity ated by
Southern. The bonds were exchanged into Canada
nsurance Trust & S. D. Co. of Philadelphia is Trustee of the Rio SouthernCanada
first mortgage bonds at 70 per cent of face value.
Grande Div. mortgage. A consolidation with New Orleans Pacific,
T o l e d o & O h io C e n tr a l.—(See Map Columbus Hocking Yalleu
share for share, was voted in May, 1881. From the State of Texas
the company received 10,240 acres of land per mile, and by building & Toledo).—Owns from Toledo, O., to Corning, 184 miles, including 12
east of Fort Worth earned 4,931,702 acres, on which the income bonds miles leased; Hadly Junction to Columbus, 29 miles, Including 5 miles
are a lien, as also a 3d mortgage on the road east of Fort Worth. The leased; total operated, 213 miles. This company was formed after sale
total sales in 1884 were 544,984 acres at an average price of $3 07 per to foreclosure of the Ohio Central main line on April 15, 1885. The
acre; total sales, including lots, amounted to $1,677,563, of which $731,- preferred stock is $3,108,000 and common $1,592,000; the first mort
278 was paid in income bonds and scrip; lands yet unsold Deo. 31,1884, gage is for $5,000,000, but no more than $3,000,000 can be issued
3,893,794 acres. The railroad lands in Texas, however, do not lie adja except by consent of three-fourths of the present bondholders. The
cent to the line of the roads owning them, but these are located in part bonds have their interest guaranteed by the Columbus & Hocking
in c ounties along the Rio Grande division, 1,030,611 acres being in Valley RR. Co., and by an agreement with that company the stock ot
Col. & H. V. was offered in exchange for three-fourths of the new stock
Tom Green County, and 1,303,380 acres in El Paso County.
On Income bonds the company may pay interest in scrip, but if the of Tol. & O. C., in the proportion o f one share of C. & H. V. for one o f T.
option s o to p a y isn o t declared, the Court held that cash must be paid; but & O. C. preferred, and one share of C. & H- V. for two shares o r T. & O.
the company appealed to the U. 8. Supreme Court. The interest scrip is C. common; the remaining one fourth of T. & O. C. stock, together with
redeemable only in stock or in payment for land, and interest at 6 per all that acquired by C. & H. V. by the exchange, were tojie deposited
cent is allowed on it only when turned in in payment for land. In July, with trustees. This placed the control of T. & O. C. with the C. <s H.
1884,1885 and 1886 interest up to June 30 was paid promptly in scrip. V. Company. (See agreement in V. 40, p- 597.
The terminal bonds are a first mortgage on terminal property in New from Jan. 1 to July 31, 1886 (seven months), were $421,907; net,
Orleans and at Gouldsborough; and on the Gordon coal mines, said to $120,985. (V. 41, p. 243, 438, 575; V. 43, p. 24..)
i
INYESTOKS’
supplem ent
O c t o b e r , 1886.]
IIRA.ILUOAD
STOCKS
AN" > BON"OS.
91
Subscribers w ill confer a great favor by g iv in g im m ediate notice o f any error discovered in these T * ^ _
INTEREST OR DIVIDENDS.
pal,When Due"
DESCRIPTION.
Miles Date Size, or
Amount Rate per When Where Payable, and by Stocks—Last
Par Outstanding
of
of
Dividend.
For explanation, of column headings, &c., see note
Whom.
Cent. Payable
Road. Bonds Value.
on flrstpage of tables.
5 g. J. & J. N. Y., Central Trust Co. July 1, 1935
Toledo A Ohio Central—Int mort. gold, interest guar 196 •1885 $1,000 $3,000,000
100 12.250.000
451
Toledo St. L. A Kansas City—Stock...........................
J. A*"j. First coup.due July, ’ 88.
"
4
4.805.000
100
JPref. 4 per ct. coupon stock, non-cu m u lative..... 451
June 1, 1916
New York Agency.
9.000.
000 6 g. J. A D.
1,000
451 1886
Sept. 1, 1932
1st mortgage, go ld .......................... ••
New York Office.
M.
A S.
6
500.000
1,000
60 1881
Tonawanda Valley A Cuba—1st mort. ($500,000)..
1924
J. A J. N. Y., Nat. B’k of Com.
7
1.424.000
1,000
35 1874
Troy A Boston—1st mortgage, consolidated.............
1903
do
do
A.
&
O.
7
925.000
1,000
53 1878
New mortgage bonds (for $1,000,000)............... .
June,
1886?
1.000.
000 21« J. & D. Phila., 233 South 4th.
....
64
Tyrone A Clearfield—Stock...........................................
J.
&
J.
5
1,000,000
1,000
1st mortgage...................... ........................................
July
1,
190»
J. A J. Rondout, Co.’s Office.
7
200.000
1,000
74 1875
"Ulster A Delaware—1st mortgage...............................
July 1, 1905
New Yçrk.
F. & A.
7
1.400.000
1875 100 Ac.
2d mortgage income bonds.........................- -...........
Q.—J. Phila. and N. Y. offices. Oct. 10, 1886*
2*«
100 21,240,400
United N. J. BB. A Canal Companies—Stock........... 429
Feb. 1. 1923
F. & A. Philadelphia Office.
4
1.824.000
1,000
1883
Gold bonds.................................................................
Moh. 1, 1901
do
do
M. & S.
6
g.
5.669.000
1,000
1873
238
General mortg.,gold and currency, coup..-------Oct. 1, 1894;
Phila.,
Pennsylv’a
RR.
A. & O.
....
6
2 , 000,000
1871
Urn tea Co.’s mortgage, sinking fund, registered.,
Moh. 1, 1894*
London.
M.
A
S.
1.846.000
6
g.
1871
do
sterling loan mortgage, sinking fund
Mch.
1, 1394*
do
1.800.000
6 g. M. A S.
1871
do
do
do
do
do
F. A A. Phila., Penn. RR. Office. Feb. 1, 1888*
6
154.000
1871
do
dollar loan, m ortgage.........................
Sept.
1,
1908?
do
841.000
6 g. M. & S.
1878
do
gold loan, reg........................................
ja n . 1, 1881?
Princeton, N. J.
J. & D.
6
866.000
1854
Joint Co.’s plain bonds..
Nov.
1,
1889
M. & N. Philadelphia Office.
6
5,000,000
1862
do
consol, mort. (sink’gfund after 1880)
Overdue.
A. & O. N. Y., B’k of Commerce.
6
100,000
1868
N. J. RR. & T. Co., 3d loan due State of N. J ........
A
p
r
ili,
1884
Q .-J . New York and Boston.
1^
ido 60,868,500
Union Pacific—Stock........... — ; ...................; .........*. 1,820 1866-9 1,000
1896 to 1893
do
do
27.229.000
6 g. J. & J.
1st mortgage, gold, on road and equipment... — 1,038
J. & J. U.S. Treas., at maturity. 1896 to 1898
6
2d mortgage currency (Government subsidy)-.-. 1,038 1866-9 1,000 27,236,512
M. A S. New York and Boston. Sept. 1, 1893
8
14.483.000
3d
do
on road (2d on land), sinking fund.. 1,038 1874
1887-’89
do
do
A. & O.
7
2.706.000
1867-9
1,000
Land grant b o n d s............. .•
Aprii, 1896
A. & O. London & New York.
8
g.
1.621.000
£200
1871
Omaha bridge bds, st’g, (s.f. about $65,000 yrly).
July 1, 190»
J. & J. N. Y., Union Trust Co.
6
4.541.000
1,000
1879
Collateral Trust bonds..................••........................
J. & D. Boston, N. Engl’dTr.Co. Dee. 1, 1907
5
3.707.000
1,000
1883
Collateral trust ponds of 1883, gold ......................
May 1, 191»
1,000 14,905,005
6 g. M. & N. N. Y., 40 Wall Street.
1879
Kans. Pac.,cons. M..,g.(for $30,000,000) ,cp.orrg.
Aug. 1, 1895
do
do
2.240.000
1,000
6 g. F. & A.
do
1st M., g, op., on 140m. west Mb. Riv. 140 1865
T oled o St. L o u is & K a n sa s C ity .-(S e e M ap.)-From Toledo to
St. Louis, 451 miles. This company was formed June 12, 1886, by con
solidation, and it took all the property of the fonner Toledo Cm. & St.
Louis narrow gauge road, foreclosed Deo. 30,1885. The present com
mon stock and tnelirst mortgage bonds were issue 1^to a syndicate for
the purchase of the property, payment of receiver s liabilities, broaden
ing the gauge, &o., &c., and $4,000 per mile of said mortgage bonds
were reserved for obtaining equipment and providing for the payment
of interest for two years. See full statement as to this company in V.
4 The status of the Tol. Cin. & St. L rnis from time to time was given in
the Supplement up to June, 1886. The only stock or bond holders of
the Tol. Cin. & St. Louis who received anything toi' their^holdings were
the first mortgage men, who took loO in new pref. stooh for Tol. Delohos
& B. firsts and 100 in newpref. stock for S t . L o u l s 755®
circnlar in V. 43, p. 432. (Y. 42, p. 23, 207, 366,397, 431, 550, 721, 705,
Y. 43, p- 73,369,432.)
T n in tw a iiii V a lie v Sc C uba.—Owns from Attica, N. Y. to Cuba,
•N .^ f w ^ h l e s Stock$587,100 Securities listed at New York Stock
Exohange December, 1882. $113,000 of 1st mort. bonds are reserved
to redeem same amount of 6 per cent bonds due 1910. Mr. Bird W.
Spencer was appointed receiver in 1884.
$50,332; deficit, $42,255. Gross in 1884-85, $18,694; def., $5,073, other
receipts, $2,929; net deficit, $2,143. (V. 40, p. 543; V. 41, p .4 7 4 ; Y.
42, p. 23.)
T ro v Sc B o sto n .—Owns from Troy, N. Y., to Vermont State line, 35
miles; leased: Southern Vermont 5 miles; Troy & Bennington, 5 miles;
Vermont State line to North Adams, 6 miles; total operated, 53 miles.
The 1st consol, bonds are used to redeem 1st and 2d morts., and 2a
consols, to redeem floating debt. $319,000 of other issues of bonds out
standing Sept., 1834. Stock, $1,623,110. In 1883-4 deficiency over all
----------- Earnings for three years past were:
charges was $27,008.
Net
Passenger
Freight (ton) Gross
Years.
Miles. Mileage.
Mileage. Earnings. Earnings.
$213,766
7,315,713 2 4,979,268 $o23,547
188182 .... 53
205,323
1882- 8 3 ............ 53
7,313,014 25,965,501
569,820
192,539
1883- 8 4 ............ 53
6,544,501 16.733,352
483,561
208,254
1884- 85 ........... 53
6,123,585 14,590,975
420,743
—(V. 41, p. 586.)
T y r o n e Sc C le a r fie ld .—East Tyrone Pa., to Curwensville, Pa., 44
miles; branches, 20 miles; total, 64 miles. This company was organized
April 1,1867, after sale in foreclosure. It was leased to the Pennsyl
vania Railroad in 1878 and new lease for 50 years made in 1382. Gross
earnings in 1885, $351,000; net, $121,344. J. N. Du Barry, President,
Philadelphia, Pa.
U ls te r Sc D e la w a r e .—Owns from Rondout (Hudson River), N. Y;
to Stamford, N. Y., 74 miles. This was the Rondout & Oswogo in 18/ 0,
reorganized May 28,1872, as New York Kingston & Syracuse, and again
after foreclosure, May 1, 1875, as Ulster & Delaware. The stock is
$1,152,100. There are also $50,000 real estate mortg. bonds. In 188485 the gross earnings were $325,837; net earnings $120,527. Thomas
Cornell is President, Rondout, N. Y.
U n ited N ew Jersey R a ilro a d Sc Canal Co.—L ines o f R o a d .—
New York to Philadelphia and branches, 135 miles; Camden to Amboy
and branches, 226 miles; Trenton to Manunka Chunk and branches,
81 miles; total operated, 443 miles. Delaware & Raritan Canal, 66 miles.
This company was form edbyaconsolidationinl867 of the Delaware &
Raritan Canal Company, the Camden & Amboy Railroad, and the New
Jersey Railroad & Transportation Company. The United New Jersey
Railroad & Canal Companies were leased in May, 1871, to the Penn
sylvania Railroad for 999 years, at a rental of 10 per cent on the
stock, oesides interest on bonds. The smaller leased roads were taken
with their several contracts. The lease has not been directly profitable
In cash receipts to the Pennsylvania Railroad, and the net loss in 1879
was $939,889; in 1880, $1,035,308; in 1881, $302,864; in 1882, $568,759; in 1883, $635,914; in 1884, $593,536; in 1885, $159,496; but the
connection with New York was indispensable. Operations and earn
ings for five years past (including the canal) were as follow s:
Passenger Fr’ght (t’ns)
Gross
Net
Div.,
Years. Miles. Mileage.
Mileage.
Earnings.
Earnings, p. ot,
1 8 8 3... 435 238,561,431 542,827,918 $14,956,596 $4,151,682
10
----------------552,423,171 14,709,887 3,960,043
10
1 8 8 4 ..
. 443
248,789,706
595,671,674 14,655,374 4,395,617
10
1 8 8 5..
. 445 272,789,011
U n io n Pacific R a ilw a y .—(See Mai).)—L ines
Koad .— Main
line—Council Bluffs to Ogden and branches, 1,049 miles; other
branches—-Kansas City to Denver, 643; Denver to Cheyenne, 106
Leavenworth to Lawrence, 34; total owned, 1,832 miles; controlled
and operated in the Union Pacflo system January, 1885—Omaha &
Repub. Valley RR., 237 miles; OmahaN. & Black Hills RR., 114: Colordo Central RR., 327; Echo & Park City RR., 32; Utah & Northern RR.,
462; Lawrence & Emporia RR., 31; Junction City & Ft. Kearney, 87;
Solomon RR., 57; Salina & Southw’n, 36; Kan. Cen., 167; Den. & Boulder
Valley., 27; Golden Boulder & Car., 6; Oregon Short lin e and branch,
610; Greeley Salt Lake & Pacific, 54; Denver South Park & Pacific. 321;
Salt Lake & Western, 57; Georgetown Breckenridge & Leadville. 8 miles;
Montana Railway, 9 m iles; total thus controlled, 2,644 miles; total oper
ated in the U. P. system Jan. 1,1885, 4,476 miles.
The Central Branch Union Pacific and leased lines (388 miles) are
operated by the Missouri Pacific under an agreement with Union Pacific
ated by Union Pacific. The U. P. also has large interests in the St. Joa*.
& West. RR., 251 miles; the Utah Central, 280 m.; Leavenworth Topeka
& 8. W., 47 m.; Manhattan Alma & Burlingame, 56 m.; Manhattan &
Blue Valley, 11 m. and Nevada Central, 93 m .; total, 733 miles, all of
whioh are operated separately.
_ _
Organ ization , &c.—This company, the Union Pacific Bailway, was
formed by a consolidation, Jan. 24,1880, of the Union Pacific RR. and
the Kansas Pac. and Denver Pao., made under authority of the acts of
Congress of July 1,1862 and July 2,1864. The Union Pac. RR. was
chartered by Act of Congress of July 1,1862, which gave the company a,
land grant of 12,800 acres per mile, estimated at a total of 12,083,227
acres, and a subsidy in U. S.bonds of $27,236.512 on 1,033 miles of road».
The Kansas Pacific was organized as “ Leavenworth Pawnee & West
em ” in 1861; then changed to “ Union Pacific, Eastern Division,” June
6,1863, and to “ Kansas Pacific” on March 3, 1869. The Pacific Rail
road acts of 1862 and 1864 applied to this road, and gave it a subsidy
of $6,303,000 and a land grant of about 6,000,000 acres.
The Denver Pacific—Denver to Cheyenne, 106 miles—was built under
the charter of the Union Paciflo, E. D. (Kansas Pacific).
As to the debt of the Pacific railroads to the United States Govern
ment a decision of the U. S. Supreme Court settled the point that the
payment of interest on the loans was not obligatory on the companies
till the principal of the bonds became due. Afterwards Congress passed
the Thurman Act, May 7,1878, which, for the Union Paciflo, provided
that 25 per cent of the net earnings, after deducting interest on the
first mortgage bonds, should b© paid annually to th© Government as foilow s: First—Applied directly to interest account, one-half of Govern
ment earnings and 5 per cent of net earnings, after deducting interest
on first mortgage bonus. Second—To be placed in the sinking fund—
the other half of the Government earnings and so much of $850,000 as
may be necessary to make all the payments by the company equal 25
per cent of its net earnings. On Deo. 31, 1885, this sink, fund investedl
m U. S. bonds (par value) was $4,875,100, and the premium paid on
bonds and cash uninvested was $1,130,933; total, $6,006,033.
Stock and B onds .—The capital stock Issued and outstanding is
$60,868,500, having been increased about $10,000,000 since the consoli
dation in 1880. Dividends since 1879 have been as follow s: in 1880, 6
per cent; in 1881, 6%; in 1882,7; in 1883,7; in 1884, 3*a; none since.
The yearly range in prices of the stock has been—In 1880, 80^113%;
in 1881, 105ia® 13151; in 1882, 98l4®119^; in 1883, 70is®104% ; in
1884, 28®84*^; in 1885, 41®62%; in 1886 to Oct. 23, 44>4®63%t.
By act of Congress of July 2,1864, the Government loan was made a
second lien and the company’s first mortgage bonds to the same amount
were made a first lien on the roads. The Union Pacific land bonds are
retired rapidly with proceeds of land sales.
.
Of the Union Pacific collateral trust bonds, the first issue is limited to
80 per cent of the following bonds: Omaha & Republican Valley RR.,
$1,064,000; Colorado Central Railroad bonds, $2,161,000; Utah North
ern Railroad, about $2,452,000; total, $5,677,000. The collateral trust
bonds of 1883 are secured by the following bonds: Colorado Central RR.
$1,434,000; Utah & Northern RR. $2,288,000; Omaha & Rep. Valley
RR. $701,000; Utah Southern RR. extension $95,000; Denver South
Park & Paciflo RR. $1,845,000; total $6,363,000.
The outstanding bonds of Kansas Pacific above are given loss th&
amounts of each class held by the trustees of the general mort. The con
sol. mortg. trustees are Jay Gould and Russell Sage, and they held in
trust on Jan. 1, 1885, the following bonds oi the Kansas Pacific, making
$6,585,950 in all, viz.: Leavenworth Branch, $568,000; income (unsub
ordinated) bonds. $215,350; income (subordinated) bonds, $3,751,600;
Cheyenne Branch Den. Pao. bonds, $2,051,000. They also held $1,892,
700 of the stocks and $3,158,000 of the bonds of other companies
controlled by the Union Paoiflo.
„ .
L and G rant .—The proceeds of land sales on the Union Paciflo main
line are applicable to the principal ot the land grant bonds, and after
that to the sinking fund mortgage 8 per cent bonds. On the Kansas
Paciflo the cash income from land was formerly applied to the interest
on the general mortgage, but in 1885 towards principal. On Dec. 31,
1885, tne company had in cash from the Union Pacific grant the sum
of $3,194,475, and in land contracts 10,522,689, whioh sums are appli
cable first to the payment of the land grant bonds, and then to the pay
ment of the 8 per cent sinking fund bonds due in 1893. On J an 1 ,1 88 6 ,
the U. P, lands were 3,321,696 acres, estimated at $2,541,696 ; the K.
P. lands unsold, 4,122,850 acres, estimated at $9,951,974.
The sales in 1883,1884 and 1885 were as follow s:
Union Pacific—
1883.
1884.
1885.
Acres sold.........................................
805,833
4,321,043
743,704
Am ount.............................................$2,436,767 $6,517,773$1,223,227
$3 11
$1 52
.........
Average price................................
Kan. Pacific—
___
690,294
Acres sold...............
218,185
452,566
Amount............................................ $965,557 $1,917,876 $2,817,15»
Average prioe................................ $4 411«
$4 21*3
Total—
1,433,99»
Acres sold..............................
1,024,018 „¿>773,609
A m o u n t.................
$3,402.324 $8,435,649 $4,040,387
. .
.
The Kansas Pacific lands, from the 380th mile we8^ u r d , are covered
first by the Denver Division mortgage, and all the lands oi tne Kan. ra e .
by the consol, mortgage.
_
. , _
, oaa
Land sales for seven months from Jan. 1 to July 31 in 1886 ana
1885 were,as follows:
INVESTORS’
SUPPLEMENT.
O c t o b er , 1886. J
RAILROAD STOCKS AND BONDS.
93
Subscribers w ill confer a great favor by g iv in g im m ediate notice of any error discovered in these Tables«
Bonds—Prinoi
INTEREST OR DIVIDENDS.
DESCRIPTION.
Miles Date Size, or
pal, When Dae.
Amount
Rate per When Where Payable, and by Stocks—Last
of
Par Outstanding
For explanation of column headings, &c., see notes of
Road. Bonds. Value.
Cent. Payable
whom.
Dividend.
on first page of tables.
Union Pacific—( Continued)—
Kansas Pac., 1st more., gold, 140th to 393d mile,
do
2d M.fto U.S.Gov.) on 394m.W. Mo.R.
do 1st,394th to 639th m., l.g., 3,000,000 acs
do
1st mort., coup., (Leavenworth B r.)..
do
Income bds, coup., 3d M.on 427 miles
Utah CewfraZ—Stock.....................................................
1st mortgage, gold......................•
Utah Southern, general mortg. (for $1,950,000)..
Utah South. Extern, 1st M., Juab to Frisco..........
Utah A Nevada—Stock................................................
Utah A Northern.—1st mortgage...............................
Utica A Black River—Stock......................... ................
Mortgage bonds.....................................-..................
Black River & Morristown, 1st mortgage..............
Clayton & Theresa, 1st mortgage, guaranteed —
Ogdensburg & Morristown, 1st mortgage..............
Utica Ohenango A Susquehanna Valley—Stock.......
Utica OUnton A Binghamton—1st mortgage............
Valley (N. T.)—Stock........ ........................................
1st mortgage..............................................................
Valley (O hio)—1st mortgage,.....................................
Consol, mortgage gold (for $3,300,000)................
Valley (V a.)—1st mortgage......................................
Vermont A Massachusetts—Stock...............................
Bonds of 1883 (guaranteed by Fitchburg R R .)...
Vermont Valley o f 1871—Stook.................................
1st mortgage.......... .................. ...............................
253
394
245
34
427
280
36ia
105
138
37
462
180
87
36
16
10
98
31
12
12
76
113
59
.
50
24
1866 $1,000
1865-7
1869
1,000
1866
1,000
1866
50 Ac.
100
1870
1,000
1879
1,000
1879
1,000
1878
1871
1874
1883
’66-’72
1881
1879
1881
1881
1883
1880
$4i063,000
*6,303,000
6.258.00Q
18,000
109,200
4,225,000
1,000,000
1,950,000
1,950,000
555,860
5,543,000
1,000
2,223,000
100
1,107,000
500 Ac.
500,000
200,000
1,000
143,000
100
4,000,000
500 Ac.
790,000
750,000
400,000
100, &0.59 1,600,000
1,000
863,000
1,000
750,000
100
3,050,000
1,000,000
50
1,000,000
1,000
800,000
6 g. J. & D. New York, 40 Wall St.
6
6 g. M. & N. N. Y., Loud. & Frankf’t.
M. A N. New York, 40 Wail St.
7
M. & S. N. Y., Bk. of Commerce
7
1
Q .-J . New York, 40 Wall St.
do
do
J.
& J.
6 g.
do
do
J. & J.
7
do
do
7
J. A J.
June 1, 1896
1895 t o ’97
Sept. 1. 1899
Jan 1, 1896
July 1, 1916
Oct., 1884.
Jan. 1, 1890
July 1, 1909
July 1, 1909
J. '& 'j . New York, 40 Wall St.
M. A 8. N. Y., R. W. A O. Co.
J. & J. N. Y. Cent. Trust Co.
do
do
J. & J.
do
do
J. & J.
do
do
J. & J.
M. & N. N. Y., D. L. & W. RR.
J. & J. N. Y., Cont. Nat. Bank.
N. Y., D. L. AW.
do
do
F. A A.
J. & D. New York, Cent. Tr. Co.
do
do
M. A S.
A. & O. Balt, and New York.
Boston, Office.
A. & O.
M. & N. Boston. Fitchburg RR.
Bellows Falls.
J. & J.
A. & O. Bost., SafeDep. ATr.Co
July 1, 1908
Sept. 30,1886
Jan. 1, 1891
Jan. 1, 1894
July 1, 1898
Jan. 1, 1891
Nov. 1, 1886
1886 A 1890
During 1885
Aug. 1, 1911
1906
Sept. 1,1921
Oct. 1, 1921
Oct. 7, 1886
May 1, 1903
July 1, 1886
Oct. 1, 1910
T
3
7
7
7
5
3
6 &7
5
5
7
6
6
3
5
3
5
1883.
1884.
1835.
-1886.Aores.
Proceeds.
Labilities—
$
$
.$
60,868,500 60,868,500
146,4 95
$178,903 Stock........................................... 60,868,500
84,506,332
84,173,285 81,957,682
138,765
767,364 Funded debt.......................
United States subsidy botids...
33,539,512 33,539,512 33,539,512
15,324,738
15,167,214
285,260
$946,268 Accrued int. on subsidy bonds. 13,868,041
Total....................... 865,544 $2,412,733
3,482,656
3,237,697 Jl,861,445
O p e r a t i o n s , F i n a n c e s , &c.—The Union Pacific has made large earn Floating debt..................
795,915
788,671
774*104
ings and until 1883 and 1884 operated its road at a low percentage of Interest accrued not d u e ..........
t7,692,810 t7,837,350 tl0,493,284
expenses. The competition and reduction of rates by building oi new General income (profit and loss)
1,791,488
2,383,029
2,976,634
lines was the main cause for the decline in earnings. The company has Income used for sinking fund..
14,180,742 18,6414.34
extended rapidly and built and acquired much new mileage, of which Land and trust income............. 5,714,689
the Utah Northern and Oregon Short Line are two of the most import
Total liabilities................... 212,259,843 222,331,523 226,379 509
ant branches.
The claim of the Government for arrearages was decided in January,
t After deducting deficit of U. S. requirements, as compared with
1885, to be about $967,466, and was paid in full in April.
The preliminary annual report for 1885 was in the Chronicle , acoTued interest on U. S. bonds Feb. 1,1880, to date.
|Not including 916,704 due to U. S. under Thurman Act, paid April
V. 42, pp. 429, 432. The remarks of Mr. Chas. Francis Adams, Jr.,
nvj
the President, in regard to the year's operations were of much interest. 16 1885
Of the whole system of roads his report showed that while the —(V. 41, p. 24, 35.103, 162. 1 8 8 , 190, 203, 274, 307, 393, 474, 528,
gross earnings of the system for 1885 increased over the gross earnings 557, 586, 689, 722, 746; Y. 42, p. 61, 148, 157, 187, 217, 305, 339,
for 1884 in the sum of $267,881, the operating expenses increased in 350, 410, 4 2 9 , 4 3 2 , 431, 488, 519, 537, 576, 601, 729, 783; V. 43, p.
still larger ratio, so tnat the result of the year’s business was a decrease 50,164, 192, 245, 275, 309, 353, 366.)
U ta h Central—(See map Un. Pacific)—From Ogden, Utah, to Frisco,
of $1,021,724, equivalent to 9'47 per cent in the net earnings.
There was an increase in local business of $2,222,455, and a decrease in 280 miles. A consolidation July 1, 1881, of the Utah Central, Utah
through business of $1,803,830. The increase in local business has, by Southern and Utah Southern Extension. Stock is $4,225,000 and 2 per
the sum of $418,625, more than made good the decrease in through cent paid in 1884. In 1883, gross, $1,174,737; net. $756,212. In 1884
gross earnings were $1,038,938; net, $478,333. For 1885 gross earn
business*
T h e h a l f - y e a r l y r e p o r t t o J u n e 3 0 . 1 8 8 6 , w a s i n t h e C h r o n i c l e , V . 4 3 , mgs were $742,240 ; net, $287,853 ; fixed charges, $340,924; deficit
$53,071. (V. 40, p. 281.)
p. 3 6 6 , s h o w in g t h e f o l l o w i n g r e s u l t s :
U ta h Sc N evada.—Owns from Salt Lake City, U. T., to Terminus
First six
First six
months, ’85.
months, ’86. U. T., 37 miles. The Utah Western made default January 1,1878, and
E a r n iu g s ............................................................................... $ 1 1 ,2 2 4 ,5 3 0
$ 1 1 ,6 0 6 ,0 8 8 the road was held by trustees for the bondholders, and was foreclosed
Expenses...........................................................
7,497,481
7,944,705 Nov. 3, 1880, and this company organized. Gross earnings in 1885,
Taxes..................................................................
452,362
500,060 $58,588; net, $30,041.
U ta h Sc N orthern—(See map Union Pacific)—From Ogden, Utah,
Surplus earnings entire system.......................
3,274,686
3,161,322
Income from investments, premiums, & c... .
385,758
780,253 to Garrison, and the line of Northern Pacific, with branches to Butte
Proceeds miscellaneous land sales.................
4,904
8,164 City and Anaconda Mines ; total, 466 miles. This road forms a connec
Received from trustees K .P. consol, mort__
75,840
643,230 tion between the Northern Pacific at Garrisons, Montana, and the Union
............
111,075 Pacific at Ogden. Stock $5,543,000, and 6 per cent dividend paid in
Received from Pacific Express Co..................
1884,-and 1 per cent Jan , 1885. The road was built by Union Paoifle,
Total income............................................... $3,741,189
$4,704,045 which owns $4,816,400 stook and $4,968,000 bonds. For the year 1885,.
The net result, after deducting all charges and the amount due U. 8. gross earnings, $2,114,392; net, $371,360; in 1884, gross. $1,998,577;
Government, was a surplus of $789,327 for the six months in 1886, net, $884,947; interest, dividends, &o„ $734,311; surplus. $150,636.
—(V. 43, p. 125.)
against a deficit of $427,121 in 1885.
U tica Sc B la c k R iv e r .—Utica, N. Y., to Ogdensburg, N. Y., 134
For eight months from Jan. 1,1886, gross earnings were $16,557,112,
miles;
Carthage to Sackett’s Harbor (leased), 30 miles; Clayton to
against $15,774,488; net $5,215,824, against $5,292,954.
The earnings and income account for the whole Union Pacific system Theresa, 16 miles; total, 180 miles. A consolidation with leased lines
was
made
in March, 1886, embracing this mileage. The oompany has
in 1884 and 1885 were as follow s:
paid moderate dividends for a number of years. In April, 1886, the road
EARNINGS AND INCOME ACCOUNT FOR 1884 AND 1885.
was
leased
in perpetuity to the Rome Watertown & Ogdensburg RR.
1885.
1884.
Gross earnings.................................................... $25,657,290 $25,925,172 Co. at a rental guaranteed to pay fixed charges And 7 per cent yearly
16,157,721 on the stook. Gross earnings in 1884-5 were $796,081; net, $316,640.
Operating expenses and taxes........................ 14,868,115
—(V. 42, p. 12 4, 397, 488, 728.)
U tica Chenango Sc Susquehanna V a lle y .—Owns from Utica,
$ 9 ,7 6 7 ,4 5 1
Net earnings.................................................... $10,789,175
1 ,3 8 2 ,8 1 1 N. Y., to Greene, N. Y., 76 miles; branch to Richfield Springs, 22 miles;
Income from mvestm’ts outside of the system
406,416
1 0 ,3 3 5 total, 98 miles. Road opened October, 1872. Leased to Del. Lack. A
Proceeds miscellaneous land sales.... ..........
7,455
Western at 6 per cent on stock. Has no bonded debt. (V. 38, p. 705.)
Profits on Investments, premiums, &o................................. 66,474
Received from trustees K. P. consol, mortg.
U tica C linton SC B in g h a m to n .—Owns from Utica, N.Y., to
207,110 Randallville, N. Y., 31 miles, and leases Rome & Clinton Railroad, 13
on account of interest.. . . . . . . . . . . . ___. . . . .
249,415
miles. Total, 44 miles. Opened June 22, 1872, and leased to New
Total income........ ....................
$11,518,936 $11,367,707 York & Oswego Midland Railroad. The lease was transferred to
Expenditures—
the Delaware & Hudson Canal Co., which pays the rental of $70,500 per
$5,336,267 annum for U. Cl. & B. and $25,500 for Rome <s Clinton. The road was
Interest on bonds............................................... $5,397,070
Disoount and interest...........................
366,077
356,138 operated by the Del. Lack. & West, till April 1,1883. Gross earnings
Losses on investments, premiums, &o.......... .
. . . L___
93,945 in 1884-85, $218,802; net, $24,176. Gross in 1883-4, $214,371; net,
593.605 $99,168. Capital stock, $636,285. Isaac Maynard, Pres., Utica, N. Y.
Sinking fund requirements, company’s b’nds
591,540
Interest on bonds of auxiliary lines...............
1,213,036
1,191,010
V a lley (N. Y .) R a ilro a d .—Owns from Binghamton, N. Y ., to State
39,920 line
Land taxes and land expenses, Union Div ..
84,837
of Pennsylvania. 12 miles. Opened October, 1871. Leased to
Loss on Leavenw. Top. & S. RR.,’ 83 and ’ 84.
............
21,578 Delaware
Lackawanna & Western at 8 per cent per aunum on stock,
whioh
was reduced in 1882 to 5 per cent, the lessee assuming the interest
Total expenditure.......... ............................ $7,652,562
$7,632,464
on bonds. Samuel Sloan, President. New York City.
Surplus in com e................................................ $3,866,374
$3,735,243
a lley (O hio).—Owns from Cleveland, O., to Wheeling Junction, O.,
Less—United States requirements..................
1,187,110
1,184,053 76Vmiles,
and 9*2 miles of small branches. The temporary debt and oar
amount to $663,541. Earnings in 1884, $542,361; net, $226.275;
Total surplus income................................. $2,679,263
$2,551,190 trust
deficit
over
interest, &o., $12,4s 2. Earnings in 1885, $569,192; net
A comparison of the condensed balance sheet for three years is as $261,4 4 6 ; surplus
over payments, $35,793. Stock, $1,042,302. (V. 41,
follow s: ,
p.
557.)
___ „
GENERAL BALANCE AT CLOSE OF EACH YEAR
V
alley
(Va.)—Owns
from Harrisonburg to Salem, Va., 113 miles.
1883.
1884.
1885.
In
1883
it
was
extended
from
Staunton
to
Lexington,
36
miles.
By
Assets ■“
$
$
$
t.hia and connecting lines under B. & O. control, the distance from Lex
Road, equipment, &c................. 157,391,640 158,918,607 159,298,919 ington
is
243
miles
to
Baltimore
and
217
miles
to
Washington.
The
Stocks and bonds owned, cost.. 33,667,827
39,233,527 Baltimore & Ohio has a large interest in its securities. In 1883-84, gross,
37,499,325
Miscellaneous investnients.......
283,143
680,891
620.640
3,415,280 $110,400; net, $34,337. In 1884-5 gross, $118,953; net, $34,665.
A dvances................................... 5,645,715
4,797,936
V erm o n t Sc M assach u setts.—Line of road, Fitchburg to Green
Materials, fuel, &c_______ . . . . .
2,557,564
1,220,612
1,683,432
Denver Extension sink’gfun d.
289,000
522,480 field, Mass., 56 miles: branch, 3 miles. The road is leased to the Fitch
407,000
.
70,440 burg RR. for 999 years at 6 per cent.
Trust 5 per cent sinking fund..
...............
V erm o n t V a lley o f 1 8 1 1 .—Owns from Bellows Falls to Brat3,215,250
3,215,200
Bonds and stocks held in trust. 3,210,950
18,159,280 tleboro, Vt., 24 miles, and by purchase of stock .lie Sullivan Comity
Land department assets............ 9,214,104
15,654,203
RR. from Bellows Falls to Windsor. Vt., 26 miles ; total, »0 miles,. Con
Total................... ..................212,259,943 222,333,523 226,279,509 trolled in the interest of the Connecticut River RR. The Sullivan
Union Division............
Kansas Division........
----------- 1885------------ Acres'.
Proceeds.
432,111 $736,849
433,432
1,705,883
94
INVESTORS’
SUPPLEMENT
[ Y o l . X L III.
Subscribers w ill confer a great fa v o r by g iv in g Im m ediate notice o f a n y error discovered in tbese Tables.
DESCRIPTION.
Ronds—Princi
INTEREST OR DIVIDENDS.
Miles Date
pal, When Due.
Amount
For explanation of column headings, &c., see notes of
Par Outstanding Rate per When Where Payable, and by Stocks—Last
of
on first page of tables.
Road. Bonds Value.
Cent. payable
Whom.
Dividend.
Vicksburg &Meridian—1st mortgage.....................
140 1881 $1,000 $1,000.000
A. <fe O. N.Y. .Muller, Shall <fe Co. A p rili, 1921
6
2d mortgage............................................................... 140 1881
1,000
1,100,000 4 to 6 M. & N.
de
do
May l , 1921
3d mortgage income (not cumulative)...................
140 1881 500 «fcc.
1,920,000
7
do
do
June 1, 1921
Vicksb. Shrevep. <&Pac.—Prior lien mort., gold........ 189 1885
1,000
1,323,000
New York.
6 g. M. & N.
Nov. 1,1915
1st mortgage, gold.......... ......................................... 189 1881
1,000
4,000,000
6 g. J. «fe J.
do
Aug. 12,1920
3 d mort., and 1st mort. on land, gold.................... 189 1886
2,500,000
3-4-5
1st coupon due Jan., 1888. Jan. 1, 1916
Too
Virginia Midland—Stock........................................... 354
4,940,363
Bonds, 1st series.......................................................
1881
600,000
6
M. & S. Balto., Mech. Nat.Bank. Mar. 1, 1906
....
do
2d s e rie s ...................................................
1881
1,900,000
6
M. <& 8.
do
Mar. 1, 1911
-do
....
3d series.......................................................
1881
1,100,000
5 & 6 M. & 8.
do
Mar. 1, 1916
•do
4th series.......................... .............................
....
1881
950,000
3-4-5 M. <fe S.
do
Mar. 1, 1921
do
5 th series.......................................................
1881
1.775.000
5
M. <& 8.
do
Mar. 1, 1926
do
6th series....................................... ...............
1881
1.309.000
4 & 5 M. <fe 8.
do
Mar. 1, 1931
1,000
1882
Income mortgage bonds strictly cumulative.......
3,985,583
6
J. <fe J. Last paid July, 1884
Jan. 1, 1927
1,000
Oonsol. moit., guar. b y R . & D ............................... 347 1886
5
M. <fe N. N.Y., Central Trust Co.
1,000
V irginia <6Truckee—1st M. (pay’ble $100,000 a year)
52 1874
300,000
10
Q.—F. San Fran., Bank of Cal. Aug. 1, 1889
100 27,372,500
Wcibash St. Louis & Pacific—Stock, common............ 3,518
....
100 23,034,200
Preferred stock, 7 percent (not cumulative)........ 3,518
Q .-F .
1*2
Nov."Ì5"Ì881
1884
....
Receivers’ certificates............ .................................
329,740
1,000 17,000,000
’General mortgage, gold (for $50,000,000)............. All. 1880
6 g. J. <fc D. Last paid Dec. 1,1883 June 1, 1920
1,000
Collateral trust bonds coup, (see remarks)............ All. 1883
7,000,000
6
M. <fc N.
May 1, 1913
1,000
1st mort. bonds on Champaign Hav. & W e s t...... 131 1880
1,163,000
6
J. <fc D. Last paid Deo. 1,1883
Deo., 1910
131 1879 100 &o.
do
1st pref., convertible.. . . .
310,900
7
J. <& J. Last paid Jan. 1,1884 July 1, 1909
1,000
1st mort., gold (Chic. Div.).....................................
262 1880
4,500,000
5 g- J. & J. Last paid Tan. 1 ,1885 July 1, 1910
1,000
1st mort., gold, Detroit Division..........
112 1881
2,052,000
6 g. J. & J. Last paid Jan. 1,1884 July 1, 1921
1,000
1st mort., gold, Indianapolis Division....................
87 1881
2,000,000
6 g . J. «fe D. Last paid Dec. 1 .1883 June 1, 1921
1,000
Indianapolis Peru & Chic., 1st m ortgage..............
74
....
275,000
7
J. <fc J. N.Y., Nat.Bk. Comm’roe June 1, 1921
....
Hav. Rantoul & East., 1st mortgage......................
75
300,000
7
J. & J. Last paid Jan. 1,1884
Jan., 1897
1,000
, 1st mort., gold, Iowa Division................................
143 1881
2,254,000
6 g. M. & 8. Last paid March 1,1884 Mar. 1, 1921
1,000
Wabash, 1st mort. (Toledo & Illinois).....................
75 1853
900,000
7
F. & A. Last paid Aug. 1,1884 Aug. 1, 1890
1,000
do
1st mort. (Lake Erie Wab. & St. L.)....... 167 1853
2,500,000
7
F. <& A. Last paid Aug. 1,1884 Aug. 1, 1890
1,000
180 1863
do
1st mort. (Great Western of 1859)..........
2,496,000
7
F. & A. Last paid Aug. 1) 1884 Aug., 1888
County RR. stock is deposited as collateral security for the above eluding Front R oj al Branch and lease of road from Strasburg to Harris
mort. bonds. Earnings, <fco., for four years ending March 31, were:
on b u rg to the B. & O. RR., and a fifth lien between Alexandria and
Net Divid’d, Gordonsville, including Warrenton Branch and lease of Charlottesville
Passenger Freight (ton)
Gross
Tears. Miles. Mileage.
Mileage.
Earnings. Earnings. Per ot. * Rapidan RR., and a fourth lien between Charlottesville and Lynohourg; the sixth series is a first lien between Lynchburg and Danville,
1881- 82 50 3,481,202
18,107,974 $366,967
4
$87,187
Including Pittsville Branoh and lease of Franklin & Pittsylvania RR..
1882- 83 50 4,056,025
22,622,270
407,999
149,526
5
and
a sixth lien on lease of Charlottesville & Rapidan Railroad.
1883- 84 50 4,555,171
20,864,921
398,614
113,784
6
The income mortgage bonds were issued to retire 1st and 2d preferred
1884- 85 50 4,246,085
20,199,299
6
373,598
110,747
stock; the interest is strictly cumulative, and secured by the mortgage,
V ic k s b u r g & M e r id ia n .—L ine of R oad .—Vicksburg to Meridian, and in July, 1885, the coupon due July, 1884, was paid. These bonds
are exchangeable into the consol, mortgage bonds bearing 5 p. o. inter
Miss.; 140 miles. In October, 1885, the gauge was changed to the est,
and guaranteed by the Richmond & Danville RR. Co.
standard 4 feet 81« inches, and the transfer across the Mississippi at
The annual report for 1884-5 was in V. 42, p. 214. Earnings for the
Vicksburg was completed. It is mainly owned and controlled by the years
ending September 30 were:
Ala. N. O. Tex. & Pac. June. Co. The company was unable to earn full
interest, and reorganization was made in 1881. In 1886 the second
Miles.
Gross receipts. Operat’g exp’ses. Net receipts.
mort. interest was to be 5 per cent, then 6 per cent for thirty-five years. f§8 1 -8 2 ..................
$1,491,921
$945,116
$546,804
Preferred stock. $1,940,612; common stock, $3,962,100. Mr. F. 8. 1882- 8 3 . . .. 354
1,664,204
956,194
708,009
Bond was appointed receiver of the company in 1885 on a small judg 1883- 8 4 . . . . 354
1,625,830
999,217
626,612
ment obtained against it. (See his report in V. 42, p. 629.)
1884- 8 5 354
1,554,375
990.432
563,943
For purposes of comparison the following statement is given showing
In 1882-83 $119,908 in addition to above expenses were spent for con
♦he operations of the company for four years ending March 3 1 :
struction, &o.; in 1883-4, $198.841; and in 1884-5, $89,835. (V. 40, p.
’ v
Gross earnings—
1882-83
1883-84.
1884-85
1885-86. 764; V. 42, p. 2 1 4 , 488, 519; V. 43, p. 488.) _
Passenger receipts............. $167,456
$190,215 $169,162 $164,818
V irgin ia Sc T ru c k e e .—Reno, Nev., to Virginia, Nev., 52 miles:
Freight receipts.................. 303,269
300,026
296,973
307,609
Mail receipts.......................
9,246
9,307
11,927
13,090 The bonds are payable $100,000 per year. Gross earnings in 1883
were $705,224; net, $294,174; dividends, $142,500. In 1884 gross
4,813
5,342
6,445
7,467
Express receipts............... ..
Miscellaneous.....................
11,065
8,991
11,095
10,320 earnings, $711,408; net, $325,001; dividends, $210,000. In 1885.
ross, $599,149; net, $282,668; interest paid, $47,500; dividends.
180,000; bonds redeemed, $100,000; deficit, $44,832. While the
Total........................... $495,851
$513,834 $195,603 $503,304
nominal stock is $6,000,000 the reports say that the amount of paid-up
©per. expenses and taxes.. 354,527 410,861
465,967
443,240
capital is not known in consequence of the destruction of the books
~Net revenue................ $141,324 $103,023
$29,635
$60,064 by fire several years ago. D. O. Mills, President.
W a b a sh St. L o u is Sc P acific.—(Formerly operated by Mo. Pacific.)
Interest on bonds................ $93,000 $103,083 $104,000 $114,083
Int. on floating debt............
752
3,292
7,633
15,895 —L i n e o f R o a d .— The number of miles of road operated December, 3 1 ,
Land Department................................
7,049
.............
4,417 1 8 8 5 , was as follow s: East of the Mississippi River—Toledo to Deca
tur, 3 2 3 miles; Decatur to East St. Louis. 1 1 0 ; Camp Point to Quinoy,
Total............................ $93,752 $113,424 $111,633 $134,395 2 2 ; Decatur to Camp Point, 1 2 9 ; Bluffs to Hannibal, 4 8 ; Maysville to
Balance............. ................ Sur.$47,572 Df.10,402 Df.81,997 Def$74-,331 Pittsfield, 6 ; Clayton to Elvaston, 3 3 ; Edwardsville to Edwardsvllle
Junction, 9 ; Detroit to Logansport, 2 0 6 ) .Attica to Covington, 1 5 ; Bates
—IV. 40, p. 7 1 5 ; V. 41, p. 488; V. 42, p. 576, 6 29.)
to Grafton, 7 1 ; Champaign to Sidney, 1 2 ; Peoria to Jacksonville, 8 2 ;
Springfield
to Havana, 4 4 ; Streator to Fairbury, 3 1 ; Strawn to AltaV i c k s b u r g S h r e v e p o r t Sc P acific.—Sec Map Cincinnati New
Orleans dt Texas Pacific. From Delta, La., on Mississippi River, to mont, 1 1 7 ; Shumway to Effingham, 8 ; Strawn to Chicago, 9 9 ; Denver,
Ind.,
to
Peru,
Ind., 8 ; Fairbury, 111., to Forrest, Til, 5 ; Elvaston to East
Shreveport, 169 miles, and extension to Texas State Line. 20 miles
><thedatter leased to Tex. & Pac.); total, 189 miles. The company was Keokuk, la., 6 ; total east of the Mississippi, 1 ,3 8 6 miles. West of the
Mississippi—St.
Louis to Kansas City, 2 7 7 miles; St. Louis Levee to
•«bartered as Vicksburg Shreveport & Texas, and opened from Delta
to Monroe, La., in 1861; the rest of the line to Shreveport was not Ferguson Junction, 1 0 ; Centralia to Columbia, 2 2 ; Glasgow to Salis
bury,
1
5
;
Moberly
to Ottumwa,1 3 1 ; Brunswick to Council Bluffs, 2 2 4 :
•opened till 1884. The old road was sold in foreclosure Dec. 1,1879,
and reorganized under present title. The stock is $3.000,000, of which Roseberry toClarmda, 2 1 ; Lexington June, to St. Joseph, 7 3 ; Glenwood
Junction,
Mo.,
to
Relay,
la., 2 3 ; Relay to Albia, 2 4 ; Des Moines to
the Ala N. O. & Texas Pacific Junction RR. Co. holds $1,594,000, and
•«ontrols this company, also holding $3,69 2,000 of the 1st mortg. bonds Fonda, 1 1 5 ; Albia to Des Moines, 6 7 ; total west of the Mississippi, 1 ,0 0 0
miles.
Grand
total
east
and
west, 2 ,3 8 6 miles, against 3 ,5 1 8 Deo., 1 8 8 4 .
*nd $1,931,000 incomes. In 1885 it was voted to issue the above prior
dten bonds lor improving the road bed, completing the transfer across Since Jan. 1 some other lines have been given up.
Org an ization , L eases , &c.—The Wabash St. Louis & Paoiflc was
tb e Miss. River, &c. In 1886 the old income bonds of $2,500,000 and
♦be stock were to be exchanged for 3d mortgage and land bonds. (See formed Nov. 7,1879, by a consolidation of the Wabash and the St. Louis
V. 43, p.104.) Gross receipts for 1885, $448,800, (V. 41, p .7 4 6 ; V Kansas City & Northern roads and their branches. The Wabash Com
pany was organized Jan. 1,1877, as suooessor of the Toledo Wabash &
-43, p. 104.)
Western, which oompany was formed June 25,1856, by a consolidation
V ir g in ia M id la n d .—Line of R oad .—From Alexandria to Gor- of several companies, and defaulted on its interest in 1875 and was fore
•fionsville, 88 miles; Warrenton Branch, 9 miles; Charlottesville to closed June 10, 1876. The St. Louis Kansas City & Northern was
Lynchburg, 60 miles; Lynchburg to Danville, 66 miles; Pittsville formed in 1871 as successor of the North Missouri Railroad, whioh was
Branch, 9 miles; Manassas Junction to Harrisonburg, 114 miles (of sold in foreclosure August 26,1871.
which 49 miles leased to Balt. & Ohio); Front Royal Branch, 1 mile;
In April, 1883, the Wabash St. Louis & Pacific was leased for 99 years
total owned, 347 miles. Leased. Orange C. H. to Charlottesville, 28 to the St. Louis & Iron Mountain (and thus to the Missouri Pacific), on
aoiles; Pittsville to Rocky Mt., 30 miles; total leased, 58 miles. Total the general basis of paying over to the Wabash its net earnings each year.
owned and leased, 405 miles, of which 51 miles, Strasburg Junction to
In May, 1884, Messrs. Solon Humphreys and Thos. E. Tutt were
.Harrisonburg, is leased to the Balt. & Ohio, leaving 354 miles operated. appointed receivers on the company’s own application in view of the
The Washington City Virginia Midland & Great Southern was a con- prospective default June 1 on the general mortgage bonds. Receivers’
■*ol dation (November, 1872) of the Orange Alexandria & Manassas and certificates were issued for about $1,400,000 and notes for $2,183,000,
'Lynchburg & Danville railroads. The Orange Alexandria & Manassas to take up notes endorsed by Messrs. Gould, Humphreys and others, but
•was a consolidation (June 1,1867) of the Orange & Alexandria and the these were finally taken up by leaving to the said endorsers the $2,700,Manassas Gap. The Washington City Virginia Midland & Great South 000 of collateral trust bonds held by them as security.
ern was put into the hands o f a receiver July 1,1876, interest being in
The plan o f reorganization was published in the C h r o n i c l e , V. 4 0 ,
default, and was sold in foreclosure May 13,1880, and after litigation p. 571, and, as afterward modified/, in V. 41, p. 300, providing for the
«old again Deo. 20,1880. Reorganized as Virginia Midland, ana bonds Issue of $30,000,000 new debenture bonds, to be disposed of as there
a n d stock issued as above.
stated; also the following points:
In April, 1886, a lease of this road was made to the Richmond & Dan
Upon reoeipt of the new debenture bonds, the holders of general mort
ville on the basis of a guarantee of the fixed charges and the payment gage and collateral trust bond certificates are to pay two per oent in
3»y tbe lessee of any balance of net earnings to the Va. Midland Co.
cash on the face of the new bonds, for which hey will reoeive debenture
Of the above bonds, the first series Is a first lien between Alexandria bonds or scrip.
« n d Gordonsville, incluaing lease of Charlottesville & Rapidan Railroad
After the formation of the new company, the Purchasing Committee
«and the Warrenton Branch; the second series is a second lien between will offer the new stock to the stockholders of the Wabash St. Louis Sc
«Alexandria and Gordonsville, including Warrenton Branch and lease of Pacific Railway Company, at the rate of eight dollars per share on pre
‘©barlotteaville and Rapidan RR., and a first lien between Charlottesville ferred, and six dollars per share on common stock, who, for the amount
«md Lynchburg; the third series is a third lien between Alexandria and so paid, will be entitled to debenture bonds, or scrip, dollar for dollar,
•Gordonsville, including Warrenton Branoh and lease of Charlottesville in addition to the shares in the new company.
Rapidan RR., and a second lien between Charlottesville and LynchThe bondholders agree to take any stock and debenture bonds not
-burg; the fourth series is a fourth lien between Alexandria and Gordons- accepted by stockholders, upon the same terms, pro rata, the amount,
ille, including Warrenton Branch and lease of Charlottesville & Rapidan however, not to exceed five per cent on the face o f their bonds.
SIR., and a third lien between Charlottesville and Lynchburg; the fifth
The debenture mortgage bondholders are to have equal representation
xles is a first lien between Manassas Junction and Harrisonburg, in with the stockholders of the new oompany in the board of directors.
f
O c t o b er , 1886.]
KAILROAD
STOCKS AOT> BONDS,
95
Subscribers w i l l confer a great fa v or b y g iv in g im m ed ia te notice o f any error discovered in these T a b les.
Ronds—Princi
INTEREST OR DIVIDENDS.
DESCRIPTION.
pal,When Due.
Miles Date Size, or
Amount Rate per When Where Payable, and by Stocks—L ost
of
Par
For explanation of column headings, &o., see notes of
Dividend.
Road. Bonds Value. Outstanding Cent. Payable
Whom.
on first page of tables.
Wabash, 8t. Louis <6 Pacific—(Continued) —
Wabash, 1st mort. (Quincy & T oledo)....................
do
1st mort. (111. & So. Iowa) extended.......
do
2d mortgage (Toledo & Wabash).............
do
2d*mortgage (Wabash & Western)..........
do
2d mortgage (Great West, of 1 8 5 9 ).......
do
Consol. M., (on all but Deo. & E 8t.L.)..
do
1st mort., (Decatur &E. St. Louis)........
do
Fund, debt bds. & sc, certs, (seeremarks.)
do
Mort., gold, sink. fd. $25,000 after ’82..
Hannibal & Naples, 1st mortgage...........................
St. L. K. C. &No., 1st mort. (North Missouri).........
do
real estate & railway 2d mort___
do 1st & 2d M.on St. Char. Bridge,coup.or rg
do 1st M., Omaha Div., gld, 8.Î., coup.or rg
do 1st mort., gold, Clarinda B ran ch ........
Toledo Peoria & West., 1st m ortgage.....................
do
1st pref. income, conv., int. guar..
Qnlncv Mo. & Pacific, 1st mort., gold (int. guar.).
Missouri Iowa & Nebraska, 1st mortgage.............
Centrev. Moravia & Alb. R R ., 1st mortgage........
Chicago Cincinnati & Louisville, 1st mortgage...
Ware River—Stock (guaranteed).....................
Warren (ÎT.J.)—Stock ................................
2d mortgage, now 1st ..............................
1st consol, mortgage ...............................
Washington City <&Pi. Lookout— 1st M. bonds gold.
1st mort., gold (for $2,000,000) ...................
West Jersey—Stook.... » .............................
1st mortgage loan......................................................
1st
do
consolidated.......................................
Consolidated mortgage..............................................
Ocean City RR. bonds...............................................
33
29
75
167
180
490
109
50
354
354
146
22
237
5
136
*24
73
49
18
18
18
12
186
38
63
128
1865
1862
1853
1858
1865
1867
1869
1877
1879
1879
1865
1874
1878
1879
1879
1880
1880
1879
$1,000
500 &c.
250 &c.
100 &c.
1,000
1,000
1,000
500 &o.
1,000
1,000
1,000
1,000
1,000
1,000
1,000
1,000
1,000
1,000
....
1867
1855
1870
1875
1873
1880
1866
1869
1879
500 &o.
100
50
100
” 50
500&C.
500 &o.
500 &0
....
M. * N. Last paid Nov. 1,1884
$500,000
7
F. & A. Last paid Aug. 1,1884
6
300,000
M. & N. Last paid Nov. 1,1884
7
1,000,000
M. & N. Last paid Nov. 1,1884
7
1,500,000
M. & N. Last paid Nov. 1,1884
7
2,500,000
Q.—F. Last paid Nov. 1,1884
7
2,610,000
F. & A. Last paid Aug. 1,1884
2,700,000
7
F. & A. Last paid Aug. 1,1884
6*7
3,009,850
2,000,000
7 g. 4. & O. Last paid Oct. 1,1884
J. & D. Last paid Deo. 1,1884
500,000
7
J. & J. N. Y.,*Bk. of Commerce.
6,000,000
7
do
do
M. & S.
3,000,000
7
do
do
1,388,500 6 & 7 g. A. & O.
2,350,000
7 g. A. & O. Last paid Oct. 1,1884
264,000
6 g. F. & A. Last paid Aug. 1 ,18»4
4,500,000
7
Q .-J . Last paid April, 1884
J. & J. Last paid Jan., 1884
4
1,189,000
1,204,000
6 g. J. & J. Last paid Jan. 1,1884
4% M. & S.
2,229,000
J. & J. Last paid Jan. 1,1884
6
400,000
J. & J. Last paid Jan. 1,1884
7
1,000,000
3% J. & J. Boston, Bost.& Alb. RR
750,000
1,800,000
3% A. & O. N.Y., Del., L. & W. RR.
do
do
A. & O.
750,000
7
do
do
M. & S.
600,000
7
J. & D. Baltimore, Balt.& O.RR.
540,000
6
1,000,000
6
M. & "s. Phila., Pa.RR.Co. Office
3
1,485,650
do
do
J. & J.
6
1,000,000
do
do
A. & O.
7
1,000,000
do
do
6
M. & N.
748,500
do
do
F.
*
A.
6
100,000
Nov. 1 ,1890
Aug. 1, 1912
May 1, 1893
May 1, 1893
May 1, 1893
Feb., 1907
Aug., 1889
Feb. 1, 1907
April 1, 1909
June 1, 1909
Jnly 1, 1895
Sept. 1, 1895
1903-1908
April 1, 1919
Aug. 1, 1919
Oot. 1, 1917
........
Oct. 1, 1909
Jan., 1920
Jan., 1887
July 7, 1886
Oot.,, 1886
April 1, 1900
March 1, 1905
1903
Nov. 1, 1900
Sept. 13,18 8 6
Jan., 1896
Oot., 1899
Nov., 1909
Aug., 1925
roads, and thereby assumed heavy liabilities. Although the earnings
Increased largely, the annual liabilities were still far in excess
of the net profits. The road w%s operated in close connection with the
Gould Southwestern system running into St. Louis, and the formal lease
to the St. Louis & Iron Mountain Company placed the Wabash in com
plete oontrol of the Missouri Paoiflo prior to the appointment of receivers
for the Wabash.
The income aooount for the year 1884 showed the following: Gross
earnings, $16,661,602; net earnings, $3,055,299; other receipts, $240,339; total net income, $3,295,638. The payments w ere: Rentals, $828,244; interest on bonds, $2,859,399 ; interest on floating debt, $137,984;
taxes. $444,971; extraordinary expenses and equipment aooount, $698,164; pool aooount, etc., $32,113; profit and loss, $516,004; total,
$5,296,845. Deficit, $2,001,206; deficit for 1883, $4,073,584; total
deficit Deo. 31,1884, $6,074,791..
For six months from January 1 to June 30, gross earnings were
$5,841,965 in 1886, against $6,397,926 in 1335; net, $1,161,221,
against
$332,097; in 1836 the earnings are on a greatly reduoed mile
LEASED LINES.
age from 1835, a number of unprofitable lines having been dropped.
The
operations
and fiscal results for four years were as below :
[While the Wabash has been in a transition state consequent upon the
sale in foreclosure, many of the branches and leased lines have been
o perations an d fiscal re su l ts .
left under its title in the S upplement as the status of those broken
oil'from the company has not been very clearly settled.]
1881.
1885.
1883.
1882.
On a number of the auxiliary lines foreclosure proceedings have been Total miles operated.
3,582
2,779
3,566
3,518
©ommenced and are now pending.
Earnings—
$
$
$
$
By order of the Court many of the leased lines were restored to Passenger.................
3,199,461
3,659,909
3,865,753
3,944,520
their owners and placed in the hands of separate receivers, including Freight..................... 11,885,226 11,979,747 11,775,634
9,501,342
the Cairo Division, operated by A. J. Thomas, receiver, and now known Mail, express, & c ....
1,264,502
1,226,060
1,069,621
1,021,943
as Cairo Vincennes & Chicago; the Toledo Peoria & West., operated by
the mortgage trustee, and in process of foreclosure under the first morcage of 1880,a decree of sale having been made in Illinois on July 30,
Total earnings....... 16,851,689 16,915,121 16,661,603 13.965,305
886; the Havana Division—Havana Rantoul & East.—ODerated by the
Expenses & taxes. 12,240,259 13,330,926 14,051,274 12,065,367
mortgage trustee, and ordered sold Oct. 27,1886, by a decree of the U.
S. Circuit Court. Cham. Hav. & West., decreed July 9, 1886, to be
2,610,329
1,899,938
3,584,195
4,611,431
Net earnings....
sold Sept. 7, 1886. Missouri Iowa <fc Nebraska, Thos. Thatcher, of
84-33
86-39
72-64
New York, receiver, was sold for $600,000 Aug. 19, 1886; and a fore Per ot. of ex. to earn.
72*64
closure suit is pending on the Omaha Division of the St. L. K. C. & N.
INCOME ACCOUNT.
The Quincy Missouri & Pacific was sold in foreclosure in May, 18 36,
to the bondholders’ committee of New York, C. S. Gillette, E. Parsons
1885.
1884.
1883.
and John Paton, for $1,000,000.
1882.
$
The Indianapolis Peru & Chie. and Chic. Cin. & Louisville roads had
$
Receipts—
$
$
2,610,329
1,899,933
3,584,195
4,611,431
decrees in foreclosure entered in Sept., 1886, to be sold on four weeks’ Net earnings............
68,553
240,339
452,666
notice.
328,760
Other receipts..........
Tne Toledo Peoria & Western made a lease for the term of its charter
1,968,491
2,850,668
to the Wabash St. Louis. & Pacific on terms as follows, viz.: That the
4,940,191 4,036,761
Total in com e....
$
$
Wabash Pacific guarantee 7 per cent on the $4,500,000 first mort
Deduct—
$
$
828,244
598,100
1,144,453
gage bonds of the Toledo Peoria & Western, l i e $2,900,000 in Rentals paid.............
987,608
902,779
2,727,348
4,302,006 4,399,716
come bonds to be guaranteed at 4 per cent and to be convertible Interest on debt.......
at par for Wabash St. Louis & Pacific common stock. The $1,000,000
3,555,592
1,500,879
second preferred income bonds were also convertible into Wabash pre
5,289,614 5,544,169
Total...................
ferred stock, share for share. The Toledo Peoria & Western stock ($3,- Deficit, afterinterest
704,924
sur.
467,612
1,507,408
000,000) was changeable into Wabash common stook, three shares for
349,423
and rentals.......... .
one. Since the default of Wabash in Jnly, 1884, the bondholders of
BALANCE SHEET DECEMBER 31, 1885.
this road are taking measures to proteot themselves, and foreclosure pro
ceedings are pending, and a decree o f sale was made July 30,1886.
Liabilities.
(V. 40,p. 305; V. 42, p. 695; V. 43, p. 164.)
Road, equip., <fcc........ $118,732,890 Stook, oommon.. . . . . . $28,404,400
Joint obligations with the Missouri Pacific Railway Go. on acoount of Investments.......... .
24,222,400
Stook,
preferred.......
9,710,970
the lease of the St. Louis Bridge & Tunnel Railroad, dated July 1,1881, are Materials, fuel, &c....
481,395 Bonded d e b t ......... 77,762,009
stated under the title of St. Louis Bridge & Tunnel RR. among “ Miscel Stocks to beexoh’ged
Floating
d
e
b
t
........
6,493,995
1,861,802
laneous Securities’’ in this Supplem ent .
Profit and loss bal’oe.
6,095,747
Total
liabilities.......$136,832,804
Stocks and B onds .—Preferred stook has a prior right to 7 per oent
Total assets............$136,882,804
(non-onmulative); then common to 7 ; then both share in any surplus.
Prices of stook since 1879 have been: Common in 1830, 26*a®48;
—(V.
42. p. 23. 52, 94,126,188, 217, 234, 305, 332, 339, 397, 463,
In 1881, 33*4®60; in 1882, 23<58@3978; in 1883, 15@36J4; in 1834,
4® 19%; in 1885, 2®151a ; in 1886 (pur. oom. receipts); to Oot. 23,12® 4 7 9 ,4 8 8 ,5 3 7 ,5 9 7 ,6 6 4 ,6 9 5 ,7 2 9, 7 5 4 ,7 5 5 ; V. 43, p. 24, 49, 5 0 ,7 3 ,
104,164,
192, 217, 218, 238, 309, 369, 400, 460, 438.)
2178> Preferred in 1880, 51%@88ife; in 1881, 64i4®96%; in 1882,
4578®71 cs ; in 1883, 2918®571fl; in 1884, 9® 32; in 1885, 6*8®25; in
W
a
r
e
R
iv e r .—Palmer, Mass., to Winchendon, Mass., 49 miles. It
1886 (pur. oom. receipts) to Oot. 23, 233s®38%.
The trustees of the general mort. for $50,000,000 are the Central Trust is leased for 999 years to the Boston & Albany Railroad at a rental of 7
per
oent
per
annum. J. A. Rumrill, President, Springfield, Mass.
Co. of N.Y. and James Cheney of Indiana. The mort. may be foreclosed
after six months default of interest, if a majority in value of all the bond
W
a
r
r
e
n
.
N . J .—Line of road, New Hampton Junction to Delaware
holders so request the trustees. First mort. on St. Charles Bridge is for
Bridge, N. J., 18% miles. The road is leased to Delaware Laokawanna
$1,000,000, and is 6 per cent now, running absolutely till 1908.
&
Western
at
7 per oent on stook and bonds. Gross earnings, 1884,
The amount of funded debt bonds of 1877, due 1907 as above given,
Includes the scrip certificates for coupons funded and deposited in trust, $496,744; net, $225,972. John I. Blair, President, BlairstowmJL J.
which certificates amounted January 1,1883, to $1,014,453, and are
W a sh in g to n City Sc P o in t L o o k o u t.—Hyattsvllle, Mdy to
exchangeable into the bonds. If not exchanged the certificates fall due
Shepherd, Ma., 13 miles, and to be extended. This road was opened la
with the principal of the bonds from which coupons were cut.
1873.
It is leased to the Baltimore <fc Ohio for $36,000 gold par
The collateral trust bonds of 1883 were issued for floating debt.
These bonds are guaranteed by the St. Louis Iron Mountain & annum. The stook paid in is $1,000,000. Same officers as Baltimore <s
Ohio
Railroad.
Southern RR. Co., and in 1884 a mortgage was recorded on all the
Wabash property for $10,000,000 to the St. Louis Iron Mt. & Southern as
W e s t Jersey .—Main line and branches—Camden to Cape May,
security for this guarantee.
Bridgeton, Riddleton, Sea Isle and Ocean City, 132 miles: leased lines,
The old Toledo & Wabash equipment bonds of 1862 ($600,000) were 35
miles; West Jersey & Atlantic Railroad., 34 m iles; total, 200 miles
decided in March, 1883, to be a lien against this company, with interest
_
¿-\»
. .
Since 1874, making $1,100,110, and judgment was so entered in May, ’ 84; operated.
Gross
earnings from Jan. 1 to Aug. 31,1886, were $943,413, against
but on appeal to the TJ. S. Supreme Court the judgment was reversed.
$392,939 in 1835; net, $362,497, against $355,880.
The annual report for 1885 was published in the CHRONICLE, V. 42
O peb atio n s , F inances , &c.—The Wabash St. Louis & Pacific extended
its lines very widely in the years 1879 to 1882 (under the presidency of p. 548Income aooount for four years was as follows 1
...
Mr. Solon Humphreys), by the acquisition of branch and connecting
The decree of foreclosure was made in January, 1886, and the road
sold April 26, 1886, to the purchasing committee, who were the only
bidders, the price for all the properties sold being $925,000, (See
Y. 42, p. 537.) But there was some delay in the confirmation of
sale, the floating liabilities including receivers’ debt, &o., being
about $4,000,000, and there yet remained a large amount of over
due interest on the prior mortgage liens. To start the new oom»any on a living basis, withirs probable receipts equal to its charges,
he Committee of Reorganization in June, 1886, proposed to the
holders of all mortgages on the road east of the Miss. River that
their futnre interest should be reduced to 5 per cent and overdue inter
est funded to 1866, (see proposal in Y. 42, p. 695,) and a committee of
bondholders was appointed to investigate and report on this. They
reported in favor of it, with slight changes; but from some other bond
holders there was opposition to it. (See Y. 43, p. 192, 218, 488.) An
approximate statement of the floating debt, including receiver’s [oertincates, &c., was in V. 43, p. 24.
i
f
96
INVESTORS’
SUPPLEMENT.
[V o l . X L III.
Subscribers w ill confer a great favor by giv in g im m ediate notice o f any error discovered in these Tables.
DESCRIPTION.
Bonds—Princi
INTEREST OR DIVIDENDS.
Miles Date Size, or
pal,When Due.
Amount
For explanation of column headings, &c., see notes
Par
of
of
Rate per [ When Where Payable, and bv Stocks—Last
Outstanding
on first page of tables.
Road. Bonds Value.
Cent. Payable
Whom.
Dividend.
West Jersey <&Atlantic—1st mortgage.......................
Pleasantville & Ocean City.....................................
West Shore—1st M., guar, by N.Y.C.& Hud., cp., rg.
West Virginia Central <&Pittsburg—1st mort...........
Western (Ala.)—Western KR. bonds, before consol..
2d mort.. guar, by Cent, of Ga. and Ga. RR. &B.Co.
Western dt Atlantic (Oa)—Income bonds..... ..............
Western Maryland—1st mort., endorsed Balt. City..
1st mortgage, unendorsed..................... ..................
2d
do
endorsed by Baltimore.....................
2d
do
endorsed by Washington County ..
2d preferred mortgage, unendorsed...... ...............
3d mortgage, endorsed by Baltimore...................
4th
do
endorsed by Baltimore....................
Funded coupons............................... , ........................
Western North, Carolina—1st mortgage, c o u p ..___
Consol mortgage, coup, for $3,425,000..................
2d, consol. mort., coup.($15,000 p. m .)..................
Western Pennsylvania—1st mortgs ge..............i .......
1st mortgage, Pittsburg Branch.............................
Registered bonds........................................................
White Water—Stock ($325,000 of it pref.)...............
Wheeling <&Lake Erie.—1st M., gold ($3,000,000)..
WUtningion Columbia <&Augusta—S tock ............. .
1st mortgage.................................... ............... ........
Wilmington <&Northern—Stock..................................
Wilmington <£ Weldon—Stock............................. .......
Sterling bonds...........................................................
Sinking fund bonds, go ld ..........................................
Gen. mortgage for $4,000,000......................... .......
1880
$ 1,000
448
$400,000
100 &c
80,000
1885 l.OGO&c 50,000,000
*44
160
138
90
90
90
90
90
90
90
1808
1870
1873
1858
1858
1867
1867
1868
1870
1872
1,000
1,000
100 &c.
500 &c,
500 &c.
500 &c.
500 &c.
500 &C.
34
130
189
"57
28
"65
186
227
87
1, 100,000
1,000
1881
1884
1863
1865
1883
500 &c.
100 &o.
1,000
1886
1,000
1,000
1880
100
222
200
1885
340.000
1.171.000
513.000
200.000
400.000
300.000
300.000
600.000
875.000
1,000,000
546,906
850.000
2.575.000
4.110.000
800.000
1,000,000
2.500.000
1.300.000
2,634,750
960.000
1.600.000
1,278,050
2,082,400
221,400
936.000
1,336,000
6
6
4
6
8
8
10
6
6
6
6
6
6
6
6
7 ‘
6
6
6
6
5
M. & 8. Phila., Fidelity I. T. Co.
J. & J. Phila., Penn. R r . Office.
J. & J.
New York.
J. & J.
A. & O. N. Y., Nat. City Bank.
4. & O.
do
do
Q—J.
Atlanta, Co.’s Office.
J. & J. Balt., N. Mechanics’ B’k
J. & J.
do
do
J. & J.
do
do
J. & J.
Hagerstown, Md.
J. & J. Balt., N. Mechanics’ B’k
J. & J.
do
do
J. & J.
J. & J.
M. & N.
Raleigh, N. C.
J. & J.
New York Agency.
A. & O.
A. & O. Philadelphia, Penn. RR.
J. & J.
do
do
J. & D.
do
do
5 g. A .'& O .
3
J. & J.
6
J. & D.
4
7 g.
7g.
5
New York.
Baltimore.
N. Y. and Baltimore.
Sept. 1, 1910
July 1, 1910
Jan. 1, 2361
1911
Oct. 1. 1888
Oct. 1, 1890
Oct. ’79 to ’91
Jan. 1, 1890
Jan. 1, 1890
Jan., 1895
Jan., 1895
Jan., 1895
Jan., 1900
Jan., 1902
Jan., 1902
May 1, 1890
Jan. 1, 1911
O ct, 1914
A p r ili, 1893
Jan. 1, 1896
June 1, 1923
Oct. 1, 1926
Jan. 10,1886
June, 1910
J. I 'D .
July 15, 1886
M. & N.
London*
Nov. 1, 1886
J. & J. N. Y. ,Bost. ,Lond. .Frank
1896
J. & J.
N. Y. & London.
1935
1
income: account .
1882.
*1883.
1884.
Receipts—
$
$
$
Net earnings.......................... 454,667 441,896
503,305
Other receipts................................................... 11,966
1885.
$
476,627
14,008
Total income..................
454,667
Disbursements—
$
Rentals paid.........................
33,034
Interest on West Jer. debt.. 177,118
Netearn.ofW.J.&A.RR.,&c 57,775
Dividends.............................
82,807
Rate of dividend.................. 6 p. c.
490,625
$
39,098
175,174
81,990
89,113
6 p. c.
441,896
"$
36,571
178,888
73,075
85,232
6 p. c.
515,271
$
41,270
175,174
90,668
87,788
6 p. c.
Total disbursements___ 350,734 373,766
394,900
68,130 120,371
Balance, surplus.................. 103,933
(V. 40, p. 184, 4 5 2 ; V. 41, p. 243; V. 42, p. 23,188, 54 8 .)
385,375
105,250
W e s t Jersey & A tla n tic .—Newfleld, N. J., to Atlantic City, N. J.,
84 miles; Pleasantville & Ocean CityRR., 7 miles; total, 41 miles
Opened June 17, 1880, and operated by West Jersey Railroad on a
oint traffic agreement and 25 per cent of gross receipts on West
Tersey from traffic of this road to be applied to any deficit in interest
and then as sinking fund for bonds purchasable at 105, or drawn if
over that. In 1884 net earnings were $83,286. Stock is $706,550.
Two per cent dividend paid in July, 1884, three Jan. 1, 1885, two
September, 1885, three March 15,1886, and two September, 1886.
W e s t Shore.—Line of road from Weehawken, N. J., opposite N. Y.
City, to Buffalo, N.Y., with branches to Albany City and Rochester City,
about 472 miles in all. This company was organized in December, 1885,
as successor to the N. Y. West Shore & Buffalo, sold in foreclosure.
Immediately on its organization the new West Shore Company issued
$10,000,000 of capital stock, and made an authorized issue of $50,000,000 of 5 per cent bonds. A lease of the West Shore property to the New
York Central Company for 475 years was executed in compliance with
the plan of reorganization. The $10,000,000 of stock was handed over
to the New York Central Company in consideration of that company’s
guarantee of the principal and interest of the $5o,000,000 of new bonds.
The .mortgage is. made to the Union Trust Co., as trustee, and covers
the line of road, Weehawken to Buffalo with branches, 448 miles in all,
and also the terminals at Weehawken by ownership of all the stock and
bonds of the Terminal Company. The guarantee of the N. Y. Cent. &
Hudson is absolute as to interest and principal and is endorsed on each
bond. A review at much length of the status of the new West Shore
bonds was in the Chkonicle , V. 42, p. 176.
The statement of the New York West Shore & Buffalo Co. for the year
ending Sept. 30 had the following:
' ■
1883-4:- •
1884-5.-;
Gross earnings.....................<.................. i . . . . $1,297,984
$1,101,931
Operating expenses........ ................................ 1,213,720
1,212,851
J
..W ® *16™ M a ry la n d .—Line: of R oad—Baltimore to Williamsport
Md., 90 miles; Emnntsburg Branch, 7 miles; Edgemont to Shippeng
burg, Pa., 34 miles; total, 131 miles. The capital stock is $682,050.
m e company was largely assisted by the city of Baltimore, and
was unable to pay all its interest. A compromise was made with
i» p r e f e r r e d second mortgage bondholders for funding coupons. In
Pr°POsed that Baltimore city should pay off the
$1,800,000 bonds embraced in the first five lines of the table above and
issue its own 4 per cent bonds, taking a mortgage on the railroad prop
erty as security.
v
The Baltimore & Hanover RR. was completed to its connection with
this road in 1880. The Western Maryland operations for three years
have been as follows, but in 1878-79 the construction account was
closed and all expenses charged to operating expenses, on which basis
net earnings have since been relatively decreased.
Passenger
Freight
Gross
Net
Miles.
Mileage.
Mileage. Earnings. Earnings.
188283.. ...1 3 1
16,201,680 12,876,711 $654,163 $254,175
1883- 84..............131
16,512,178 13,114,956
665,995
258,245
1884- 85..............131
14,602,158 11,670,486
619,217
232,135
-(V . 41, p. 603 ; V. 43, p. 369, 432.)
W estern N orth Carolin a.—Owns from Salisbury, N. C., to Paint
Rock, Tennessee State line, 190 miles; Asheville to Nantahala River, 84
oailes; total, 274 miles. The road was financially embarrassed, and was
purchased April 17, 1875, by commissioners for the State of North
Carolina, and subsequently finished by the Richmond & Danville Ter
minal Railway & Warehouse Company, and is operated as a part of the
Richmond Jn Danville s stem. In May, 1886, it was leased to the R.
& D . Company. In 1883-84 gross earnings, $435,069; net. $141,583.
In 1884-85. gross, $468,507; net, $324,351; deficit under charges,
$1,765. Stock. $4,000,000 com. and $4,000,000 pref. The second cons,
mortgage for $4,110,000 is held by the R. & D. Ter. R. & W. Co. and
also $1,825,000 of the 1st consols, given above. $850,000 of same bonds
are reserved to retire the lsts.
W estern P e n n sy lv a n ia .—The road runs from Bolivar to aha
ghany City, Pa., 63*3 miles; branch to Butler, Pa.. 21 miles; total, 841a
miles. Completed in 1865 and branch in 1870. a new lease to the
Pennsylvania Railroad for 30 years was made in 1883, and an issue of
$5,000,000 consolidated bonds was authorized. The Penusvlvania Rail*
road, lessee, owns $993,050 stock out of the total amount of $1,022,450
and $288,000 of branch bonds. Gross earnings in 1885, $1,159,514;
net, $477,981.
W h ite W a te r .—Valley Junction, O., to Cambridge City, Ind., 65
miles. This was formerly the White Water Valley, sold in foreclosure
May 2,1878, and reorganized under this title. Gross earnings in 188283, $104,234; deficit, $5,979. Elijah Smith, President.
W h e e lin g & Lake B rie.— Toledo, O.,to Bowerston. O., 174 miles
and branch to Huron, O., 12 miles. Foreclosure begun in July, 1884*
and M. D. Woodford appointed receiver. The road was sold April 23,
1886, and purchased by trustees of the reorganization committee for
$505,000. (SeeV. 42, p.537.) New company organized in July, 1886,
Net earnings. „ .................................................
$84,269 deflc.$110,920 with stock of $3.600,000, of which $3,513,400 issued to Sept. 1,1886,
Gross earnings in 1885-6 $546,152; net, $109,304. Geo. J. Forrest,
Total income (including miscellaneous). $87,337 defic.$l 10,920 President. (V. 41, p. 43; V. 42, p. 94, 157, 488, 537, 775; V. 43, p. 50.)
Taxes, rentals,- &c..... .....................................
212,390
117,736
W ilm in g to n C olu m bia & A u g u sta .—Owns from Wilmington,
Net deficit (allowing no int. on bonds). . . . $125,053
$228,657 N. C., to Columbia, S. C., 189 miles. Leased jointly, the CentralRR,
of
South Carolina, Lane, S. C., to Sumter, S. C., 38 miles. Total oper
~ (V . 41, p. 24, 50, 77,102,133,190, 216, 242, 273,' 337, 357, 393, 420,
424, 527, 612,613, 653, 654, 689, 746; V. 42, p. 23. 156, 176, 305, 519, ated, 227 miles.
Road
was sold in foreclosure, October, 1879, for $860,500, and com
755.)
pany reorganized under present style.
In June, 1885. the road and property of this company were leased for
W est V a . Central & P ittsb u rg—A coal and railroad company in
West Virginia in the upper Potomao region—the Elk Garden Coal Field. 99 years to the Wilmington & Weldon, the lessee to pay all interest and
November, 1884, in operation from Piedmont, W. Va., to Davis, W. V a„ fixed oharges and 6 per cent dividend on the stock, payable semi-annu
58 miles; Branch, Shaw. W. Va., to Mineville, 2 m iles; total, 60 miles. ally in January and July. In 1884-85 net receipts were $242,534; the
In 1883 net profit on coal sales $41,038; net on railroad, $56,254: surplus income over interest and dividends was $88,934; in 1883-84
total, $97,292. In 1884, net profits on coai sales, $57,523; net from similar surplus, $58,720. (V. 41, p. 687.)
railroad, $56.890; total revenue, $114,414; interest paid, $66,000;
W ilm in g to n & N orth ern .—Owns from Wilmington Del., to
surplus, $48,413. Stock, $5,500,000. H. G. Davis, President; S. b !
Elkins, Vice-President; James G. Blaine, W. H. Barnum, and others, Birdsboro, Pa., 64 m iles; branches, 24 miles; total owned 87 miles;
trackage
leased, 5 m iles; total operated, 92 miles. This company
directors.
was organized Jan. 18,1877, as successor to the Wilmington & Reading
W e ste rn A la b a m a .—L ine op RoAi>-Selma to Opelika, Ala., 116 RR. Co., which defaulted on its interest and was sold in foreclosure Dec.
miles; branches, Opelika to West Point, 22 miles; total, 138 miles, of 4, 1876. Has bonds amounting to $228,700 in several small issues.
Which 50 miles is leased to Louisville & Nashville for $52,000 per Gross earnings in 1884, $346,056; net earnings, $64,432. Paid interest,
annum. Was a consolidation in 1870 of Montgomery & West Point and $11,456; bonds redeemed, $5,300.
Western of Alabama. Sold May 10,1875, in foreclosure and purchased
W ilm in g to n 8c W e ld o n .—Road extends from Wilmington to
jointly by the Georgia Railroad and Central Railroad of Georgia. The
old stock and income bonds were wiped out in the foreclosure, and the Weldon, N. C., 163miles; branch to Tarboro, 17 miles; Scotland Neck
property is represented by the bonded debt and $846,000 due each of the Branch, 20 miles; also operates Midland N. C. RR., Goldsboro to Smithabove companies. There are also $32,000 second mortgage 8s of Mont field, 22 miles; total, 222 miles; also under construction branch from
gomery & West Point RR. due May 1, 1888. The gross earnings in Wilson to Fayetteville, 70 miles. Was leased November, 1872, to Wil
mington Columbia & Augusta Railroad for 99 years. The lessees made
1883-84 were $457,597; net, $241,671.
default December, 1877, and the lease was surrendered April 13,1878.
W e s te rn & A tla n tic .—Atlanta, Ga., to Chattanooga, Tenn., 138 In June, 1885, this company took a lease for 99 years of the Wilming
miles. Built by State of Georgia and opened in 1850, and by an act of ton Columbia & Augusta. (See that company above
October 24,1870, was leased to a company for twenty years at a monthlv
The fiscal year ends Sept. 30. The report for 1884-85 was in V. 41
rental of $25.000.
J p. 687.
O cto b er ,
CANAL STOCKS AND
1886.]
97
BONDS.
Subscribers w ill ««n fe r a great fa v o r by g iv in g im m ed ia te n otice o f a n y error discovered in these T a b les.
Bonds—Princi
INTEREST OR DIVIDENDS.
DESCRIPTION.
pal,When Due.
Miles
Size or
Am mint Rate per When Where Payable, and by Stocks—Lata
Par
of
For explanation of column headings, &o., see notes
Outstanding Cent. Payable
Dividend.
Whom.
Road.
Value.
on first page of tables.
Wisconsin Central—Consol, mort., land grant, pref.
1st series................................... ..............>...............
2d series, income (not cumulative).........................
Mort. Minn. St. Croix & Wis. R R ................... - ........
Worcester A Nashua A Rochester—Stock - -- -- - .......Bonds, mort. (to be refunded when due at 4 p. c.)
Bonds, mortgage.......................................................
Bonds, mortgage............................. •-iNashua & Roch., 1st M., gu., conv. into N.&R. st’k
CAN ALS.
Albermarle A Chesapeake—Mortgage bonds...........
Chesapeake A Delaware—Stock.......................... .
1st mortgage (extended in 1886)............................
Chesapeake A Ohio—Stock..........................................
Maryland loan, sinking fund............................. —
Guaranteed sterling loan..........................................
Bonds having next preference........................ ........
Repair bonds,_ Act 1878.................. - ...................—
Delaware Division—Stock...........................................
1st mortgage (extended 20 years in 1878)............
Delaware A Hudson—Stock.........................................
1st mortgage, registered..........................................
Debenture loan of 1894, coup and reg................
1st M., coup. & reg., on Penn. Div. ($10,000,000)
Lehigh Coal A NavigationrStodk...............................
Loan, conv., coup., gold (assumed L. & W. Coal Co)
1st mortgage, reg. (extended at 4 ^ ) .................
1st mortgage, registered, railroad.....................
Mort. loan. g. ($2,810,000 assumed by other co’s.'
326
326
326
104
94
48
14
14
14
184
184
184
184
*60
60
148
148
1,000
100
100 &o,
1873 500 &c
1875 1000&C
1874 500 &o
1879
1,000
50
1856 Vario’s
25
500 &C.
500 &o.
500 &o.
1858
339
187Ì
1874
1877
1869
1864
1867
. . . . / 1867
"5 0
1,000
100
1,000
1,000
1000&0.
50
500 &o.
Var.
Var.
500 &o.
Earnings and income account for three years is as follows:
EARNINGS AND EXPENSES.
Earnings from —
1882-3.
P a sse n g e rs.......................... $263,241
Freight.................................. 426,133
Mail, express, etc................. 108,055
1883-4.
$271,461
412,993
lu3,500
1884-5.
$289,852
425.979
109,126
Total earnings___. . .... $797,429
Operating exp. and taxes... 601,549
$788,014
493,383
$824,957
451,^16
Net e a rn in g s ...............$195,380
$294,631
$373,141
Receipts—
1882-3.
Net earnings..........................$195,380
Other reoeipts.............
26,073
1883-4.
$294,631
23,942
1884-5.
$373,141
29,937
INCOME ACCOUNT.
$403,078
Total................................. $216,053
$313,573
Disbursements—
__
:-z£| „ „ „
79,365
In te re s t........ . . . . . . . . . . . . . $80,641
$80,698
D ividends.............(6 p. c.) 124,914 (8p.o.) 166,592 (8p.c.) 166,592
Total................................. $205,585
$247,290
$245,957
Balance, surplus.................. $10,468
$71,283
$157,121
—(V. 40, p .6 8 6 ; V. 41, p .6 9 ,6 8 7 , 722.)
* „
W is c o n s i n C e n tr a l.—Owned on Dec. 31,1884, the main line and
blanches Stevens Point to Menaslia, 65 miles; do. to Ashland, 188
miles; do. to Portage City. 72 miles; branches and spurs,25 miles; total
owned, 349 miles. Leased: fromNeenah to Schleisingerville, 64 miles;
Packwaukee to Montello, 7 miles; operated under contract, Milwaukee
to Schleisingerville, 33 miles. Total operated, 450 miles.
In January, 1879, the Wisconsin Central Road was taken possession of
by the trustees for bondholders, who still operate it. There is a land
grant of over 800,000 acres. The reorganization was practically accom
plished by consent, and only $247,000 old bonds are unassented. Liti
gation is pending as to $200,OOo bonds in New York Court of Appeals,
as to preferences claimed by one holder. The scheme embraced the
issue of a new consolidated mortgage to cover $400,000 5 per cent
preferred bonds; $3,800,000 first series bonds, now bearing 5 per cen t;
and $5,700,000 second series bonds, to draw interest if earned (but
not cumulative) at 7 per cent. Interest on the second series is
ayable J. and J., but dependent each time on the net earnings of the
alf year ending six months before. The stock of $11,435,500 remains,
$2,000,000 of it preferred and $9,435,500 common, and is all deposited
intrust with Stewart and Abbot, Trustees, to be voted on until all interest
is being earned and paid on new bonds, and in the judgment of the trus
tees is likely to continue so to be. Trustees’ certificates for new stock
(without voting power) have been issued to the old stockholders, which
pass as a delivery on sales.
In March, 1882, the Trustees and Company leased for 99 years the
Milwaukee & Lake Winnebago RR., from Neenah to Schleisingerville,
which was completed in December, 1882; the rental is 37*3 per cent of
gross earnings up to $175,000 per year, all'surplus to go equally to
lessor and lessee,and the bonds are issued subject to this lease. The Wis.
& Minn, and Minn. St. Croix & Wisconsin RR., built m 1884. gave impor
tant extensions, reaching St. Paul from Abbottsford, via Chippewa Falls.
159 miles. From Milwaukee this company makes use of Chic. Mil. &
8t. Paul tracks 32 miles; an extension from Schleisingerville to Chicago,
116 miles, a new road finished in L886, is known as the Chic. Wis. &
Minn., and is a close connecting line of the Wis. Central, though the latter
is noc responsible for its obligations.
In Sept., 1886, a circular was issued by Mr. E. H. Abbot, one of the
trustees, to stockholders of Wis. Central, inviting tnem to subscribe
$1,500,000 cash for the securities of a new road of about 50 miles from
Lake Agojebic, Mich.,to Winnebosho, Wis. (See. V. 43, p. 309.) In V. 43,
p. 48, is an abstract of the annual report for 1885. For three years the
earnings, &o., were:
1884.
1885.
1883,
Gross earnings...............................$1,447,798 $1,429,075 $1,461,004
957,745
941,881
Operating expenses.........................
973,732
E
Net earnings..............................
Rent’ls, ear service,license fee& txs
$474,065
351,405
$471,330
319,650
$519,123
310,406
B a la n ce...................................... $122,660
$151,679
$208,716
—(V .40 ,p . 718, 7 6 2 ; V .4 1 ,p . 43,103, 182, 241, 528, 558, 586, 654;
V. 43, p. 48 , 309, 432.)
W orcester A N ashua A R o ch ester.—Owns from Worcester to
Nashua and Nashua to Rochester, 94miles. This consolidated company
was formed Deo. 1,1883, by a merger of the Worcester & Nashua and its
leased line, the Nashua A Rochester.
In October, 1885, a lease of this property for 50 years, from Jan. 1,
1886, was made to the Boston & Maine RR. Co. at a rental of $250,000
frnii taxes. Five years’ operations were as follows:
Net
Gross
Passenger
Freight
Mileage.
Earnings. Earnings.
Mileage.
Years. Miles.
$155,196
$16,153,062
$588,770
7,222,999
1880- 8 1 .. 94
156,993
631,982
16,999,008
7.467,524
1881- 82... 94
173,325
661,531
17,844,586
7,592,458
1883-83... 94
181,421
639,447
17,338,246
7,335,977
1883- 84... 84
191,106
633,074
1884- 85 .. 94
- 1 V. 41, p. 527, 558, 586, 688.)
$360,000
3.800.000
5.700.000
2.600.000
3,064,500
275.000
250.000
400.000
700.000
5
5
7
6
3
5
5
5
5
7
500,000
2,079,213
1.975.000
6
3,851,593
6
2,000,000
5
4.375.000
6
1,699,500
6
314.000
2
163,335
6
800.000
1*4
24,500,000
7
5.549.000
7
4.829.000
7
5,000,000
2*a
12,675,650
747,000
6 g.
5.000.
000 4 12
2.000.
000 6
4.653.000
6 g.
Boston, Office.
M. & N.
do
J. & J.
do
J. & J.
M. & N. N.Y., Farmers’ L.&T.Co.
Worcester, Office.
J. & J
do
do
Various
Bost.,
Globe Nat. Bank.
A. & O.
do
do
F. & A.
do
do
A. & O.
5 p. ct. yearly
1909
1909
1914
July 15,1886
May 1, 1887
April 1, 1893
Feb. 1, 1895
April 1, 1894
J. & J. N. Y., Union Trust Co.
J. & D. Philadelphia, Office.
do
do
J. & J.
J. & J.
Q - J Balt., A. Brown & Sons.
London.
Q—J.
J. & J. Balt., A. Brown & Sons.
J. & J. Balt., Farm.& Meoh.Bk,
F. & A. Phila., 226 So. 3d st.
do
do
J. & J.
Q—Moh. N. Y., Bk. of Commerce.
do
do
J. & J
A. & O. N. Y. Office & Bk.of Com.
do
do
M. & S.
J. & D. Philadelphia, Office.
do
do
M. & S.
do
do
Q—J.
do
do
Q—F.
do
do
J. & D.
July 1, 1909
July 1,1886
1870
1890
1885
1898
Feb. 15. 1886
July 1. 1898
Sept. 15,1886
1891
1894
Sept. 1, 1917
June 11,1886
1894
July 1, 1914
1897
1897
C AN ALS.
A lberm arle & Oh osapeake.—Canal between Chesapeake Bay
and Albermarle Sound, N. C., 14 miles. Gross earnings 1884-85, $70,000; surplus overinterest, $5,000. Pres t, Marshall Parks, Norfolk, \a.,
Chesapeake A D o la w a r c.—’Delaware City to Chesapeake City, Md.
In July; 1886, a heavy defalcation by the Treasurer and an over-issue
of bonds was discovered, probably over $600,000, and in Sept., 1*86, it
was proposed by the company to retire old bonds and issue $2,600,000
of new 5 per cent bonds maturing in 1916, thu3 covering the over-issue.
(See V. 43, p. 367.) lu the year ending May 31, 1886, gross reoeipts
were $210,894 and net $151,966; interest charge, $119,621; surplus,
$32,345. (V. 12, p. 604; V. 43, p. 22, 49, 367.)
C h e s a p e a k e & O h io .—This company was assisted with loans by the
State of Maryland. It has long been unable to meet its interest. I n a
suit against the companythe Court (January, 1881) declined to appoint a
receiver, but ordered the company to report at stated times its reoeip t
and payments. In July, 1884, application again made for a receive .
and sale of the canal. In 1883 gross earnings, $329,5 27 ; net, $34,474
in 1885, gross earnings were $135,929,- expenses, including interes
paid, $184,667. (V. 41, p, 23; V. 42, p. 575./
D e la w a r e D iv is io n « —
-Leased to Lehigh Coal & Navigation Co.
Interest on bonds and 4 percent a yeanon.'stock. 29,642 shares ha
been converted into Lehigh Coal & Navigation stock, leaving on
3,025 shares unconverted.
D e la w a r e & H u d s o n . —The Delaware & Hudson Canal Co w
chartered April 7 1823, and the canal from Rondout N. Y. to Hon esdale, Pa., was completed in 1828. The company owns the following
railroads, viz: Lackawanna & Susquehannah, Nmeveh, N. Y., to Jeffer
son Junction, Pa., 22 miles; Valley RR., Carbondale to SorantonPa.,
17 miles; Union RR., Green Ridge to Mill Creek, Pa., 17 miles ¡P ly
mouth & Wilkesbarre RR. and bridge, 3 miles; Gravity RR., Olyphant
to HoDesdale, 56 miles; total owned, 114 miles ; track of Jefferson RR«
used by contract, 35 miles; total operated in Pennsylvania, 150 miles.
TJiis company is among the largest miners and carriers of anthracite coal*
The stock was increased to $30,000,000 (of which $23,500,000 issued
to Jan. 1,1886) to pay off the bonds due in 1884 and 1891. Of the
remaining $6,500,000, $1,000,000 will be issued in 1887, and $5,500,000
in 1891, to take up an equal amount of 7 per cent bonds. To share
holders of May 24,1883, there was allotted 35,000 shares to be paid for
at par. To shareholders of Oct, 1, ’86, there were allotted 10,000 shares.
The annual report for 1885 had the following: _
,
« in the Coal Department, notwithstanding m increased demand over
the previous year, the prices of coal were lower. This was occasioned
by the desire f o r ‘ tonnage’ on the part of some of the interests, leading, in its turn, to a very imperfect oarrying out of the restrictive policy
—a policy which alone can give profit for oar product, until the time
(not probably far distant) when consumption shall equal the power to
^ “ For the present this policy has been ab andoned, and unless wiser
counsels shall prevail and lead to its re-establishment on a basis that
will secure fairness in its working—the results upon the antnraoite in
terest for the present at least cannot be other'than disastrous.
Comparative statistics for four years:
PROFIT AND LOSS.
m
1884.
1885.
1883.
1882.
Ttecpints—.
$
$
$
$
Sales of co a l....................... 8,993,540 9,575,362 8,213,157 7,201,04?
47,240
51,551
52,403
Canal tolls..........................
60,007
486,929 i 792,716
287,038
Miscellaneous profits........
187,363
284,464 5
257,541
Interest on investments. . .
249,497
892,804
649,905
745,436
Coal on hand (Deo. 3 1 ) ....
492,924
830,542
694,941
888,559
Railroad earnings in Penn. 812,455
1,905
Profit on leased lines.......
8,465^
T ota l............................ 10,804,25111,808,244 10,755,136 9,393,162
Disoursements—
$_ _
___
,
Coal on hand Jan. 1 . . . . . . . 345,075
492,924
745,436
892,804
Mining c o a l....................... 4,422,213 4,996,195 4,549,480 3,975,297
Coal transportation, & o... 798,701
811,873
557,500
592,803
Janalfreight and e ip s .... 1,680,192 1,642,844 1,455,805
826,987
In terest...... . . . . . . . . . . . . . . 1,312,083 1,321,941 1,198,885 1,082,768
Paxes and miscellaneous. 407,756
546,624
585,446
522,777
Loss on leased railroads......................
........
,1 7 4 ;^ P . .
Balance............................... 1,838,201 1,995,843 1,488,094 1,186,396
Total............................. 10,804,251 11,808,244 10,755,136 9,393,162
GENERAL BALANCE AT CLOSE OF EACH FISCAL YEAR
ObntiL.T..............................
Railroad and equipment..
Real e s ta te ....
..........
Mines and fixtures............
Coal-yard, barges, & o .... .
Lack. & Susquehanua RR.
Albany & 8usq. R R ..........
New York & Canada R R ..
Cherry Val. & Sharon RR.
Meehan. & Ft. Edward RR
Sohen. & Meehan. R R .......
1882.
1883.
1884.
1885
6,339,210
6,581,070
9,044,175
2,751,236
683,185
1,022,938
1,008,787
3,597,074
300,000
48,296
210,922
6,339,210
6,957,188
9,035,163
2,796,329
9^0,678
1,022,938
520,164
3,597,074
300,000
52,113
211,280
6,339,210
6,468,634
9,32o,365
2,792,417
790,779
1,022,938
6,339,210
7.134,018
9,628,325
2,795,576
t ^34,856
1,022,938
3,597,074 3,597,074
300,000
300,000
59,131
51,928
211,527
211,765
98
INVESTORS’
SUPPLEMENT.
[V ol. X m l ,
Subscriber» w ill confer a great favor by ¡giving Im m ediate notice o f any error discovered In these Tables.
DESCRIPTION.
Bonds—Princi
INTEREST OR DIVIDENDS.
Date Size, or
pal,When Due.
Amount Rate per When
For explanation of column headings, &c., see notes of
Par
of
Where Payable, and by StocTes—Last
Outstanding
on first page of tables.
Canal Bonds Value.
Cent. Payable
Whom.
Dividend.
Lehigh Coal <£ Navigation—(Continued) —
Consolidated mortgage loan....................................
Greenwood 2d mortgage, reg. Extended, 1877..
General mortgage................................................... .
M orris—Stock, consolidated..................
Preferred stock..................................................... .
New mortgage (for $1,000,000).......................... I!
Preferred stock scrip dividend...............................
Pennsylvania—Stock....................................................
General mortg., interest guar’d by Perm. R R ___
Schuylkill Navigation—Stock, common....................
Preferred stock...........................................................
1st mortgage, extended............................................
2d mortgage................................................................
Mortgage bonds, coup, (payable by P. & R .) ........
Improvement bonds...................................................
Boat and car loan, (payble by P. & R .)............
Boat and car loan ( do
do ) .......... .......
Susquehanna—Maryland loan, 2d mortgage............
Susquehanna Canal, common bonds, 3d mort.......
do
pref. bonds, 1st mort............
do
pref., 1st T. W. priority b’ds.
do
bonds of 1872,4th mort........
1871
1872
1884
....
103
103
103 ’76-’85
1869
337
337 1870
....
108
___
1870
1863
1864
1839
1859
1884
1884
1872
$1,000
1,000
1,000
100
100
1,000
various.
50
1,000
50
50
1,000
1,000
....
1,000
1,000
1,000
....
1,000
500
500
1,000
1882.
1883.
$
$
Coal on hand Dec. 31........
492,924
745,436
Advances to leased lines.. 637,605
921,663
Advances on coal royalties 625,073
648,724
Miscellaneous assets. . . . . . 3,658,429 3,944,549
69,410
Telegraph and Car Co___
69,410
Supplies,tools,<&c.,on hand 1,408,449 1,466,143
Cash and bills receivable.. 2,609,203 3,914,976
$2,464,750
643,000
1,500,000
1,025,000
1,175,000
1,000,000
103,164
4,501,200
2,934,000
689,912
3,235,550
1,709,380
3,990,392
1,200,000
228,000
756,650
621,600
1,000,000
1,326,000
227,500
97,810
250,000
7
7
4*2
2
5
7
7
6
35c.
70c.
6
6
6
6
6
7
6
6
6
6
7
J.
F.
M.
F.
F.
A.
F.
&
&
&
&
&
&
&
D. Philadelphia Office.
A.
do
do
N.
do
do
A. Leh. VaJ. RR. Co., Phila.
A.
do
do
O.
do
do
A.
do
do
J. & J. Phila., 233 So. 4th St.
....
Philadelphia, Office.
do
do
Q .-M .
do
do
J. & J.
do
do
J. & J.
do
do
M. & N.
do
do
M. & N.
do
do
M. & N.
do
do
J. & J. Phila. and Baltimore.
J. & J.
do
do
J. & J.
do
do
J. & J.
do
do
J. & J.
do
do
June 1, 1911
1892
1924
Aug., 1886
Aug., 1886
April 1,1906
Feb., 1889
July, 1910
Feb. 15,1884
Feb. 15,1884
March, 1897
1882 to 1907
1895
May, 1880
May, 1913
May, 1915
Jan., 1885
Jan. 1, 1918
Jan., 1894
Jan., 1894
Jan., 1902
1884.
1885.
1883.
1884.
1885.
$
$
Surplus for y e a r .................................... $755,405 $732,230 $685,222
892,804
649,905 Balance to oredit of div’d fd . Jan. 1 ..
535.457
665,934
679,936
330,737
1,502,789
698,125
720,055
Total.................................................$1,290,862 $1,398,164 $1,365,158
3,372,061 *2,740,040
ividends..
.................................. $624,928 $718,228 $681.315
43,035
43,035 D
413
g
6
Rate
of dividend.......................................
1,611,254 1,185,028
2,823,813 3,964,939
Balance to credit of div’d fund Deo.31 $665,934 $679,936 $683,843
The annual report for 1885 in Ch ronicle , V . 42, p. 241, said:
Total assets.................. 41,087,986 43,213,038 41,843,804 41,656,642
“ A considerable quantity of the larger sizes of our coal has found
T .i n lv il 'i fq p s _
®
(P
cv
û>
ready sale in Northern New York, Canada and the West, following our
Btook.....................................20,000,000 20,000,000 23,500,000 23,50(^000 lines to near Scranton, and we have in the last two years developed a
Bonds...............Ì ..................18,763,000 18,763,000 15,378,000 15,378,000 considerable all-rail trade with Eastern New York and interior New
Miscellaneous accounts...
836,899 2,444,732
778,072
812,002 England.” * * *
Profit and loss..................... 1,488,087 2,005,306 2,187,732 1,966,640
“ In order to secure this trade we have in the past year made an agree
ment with the Lehigh & Hudson River Railroad Company, which guar
Total liabilities............41,087,986 43,213,038 41,843,804 41,656,642 antees that we shall for a term of ten years have the use of its railroad
system on as favorable terms as are accorded to any one. To Tna.fr« thia
* These miscellaneous assets include the following: Sundry bonds agreement secure, we have exchanged with stockholders of that com
pany
2,000 shares of our stock, of the par value of $100,000, for 4,000
$118,552; 8,000 shares Albany & Susquehanna R R „ $800,000; 16,077
Bhares Rensselaer & Saratoga RR., $1,607,700; sundry stocks, $213,788. shares of its stock, of the par value of $400,000, and we and certain of
its
stockholders
have put the majority of the whole capital stock into a
—(V. 40, p. 195, 2 1 3 , 569; V. 42, p. 167, 18 6 ; V. 43, p. 163, 398.)
trust to carry out the agreements above recited. We have thus acquired
an
important
outlet
without incurring any liability on account of the
L e h i g h O o a l & N a v ig a t io n .—The Central Railroad of New Jersey
assumed (in purchase ot equipment) $2,310,000 of the gold loan due Lehigh & Hudson River Railway Company.” * * *
“
Our
relations
with
the Philadelphia & Reading Railroad Company
1897 and leases the Lehigh & Susquehanna Railroad. The Lehigh &
Wilkesbarre Coal Company assumes $500,000 of the gold loan due 1897, and with the Central Railroad of New Jersey, have been satisfactory
and $771,000 (all) of the convertible gold loan due 1894. Bonds matur throughout the past year, the payments on account of the lease of the
ing 1884 were extended till 1914 at 4 ^ . The Board of Managers’ re Lehigh &. Susquehanna Railroad and branches being promptly
made.” * * “ We have heretofore assured these companies that we do
port has the following statement of receipts and disbursements:
not desire to add to their embarrassments, but we do not intend that
Receipts—
1883.
1884.
1885.
any action which may be taken shall in any way impair our revenue or
From railroads and Nesque. Tunnel. $1,614,695 $1,458,200 $1,459,035 ipjure our interests.” tV. 41, p. 720; V. 42, p. 2 4 1 .)
Lehigh Canal.........................................
65,552
77,444 i
M o rris.—Leased April, 1871, to Lehigh Valley Railroad for 999
Water Powers Lehigh Canal...............
20,881
20,525} 65,971
Delaware Division Canal.....................
57,745
58,951
11,038 years. The lessees assume bonds and scrip, and pay 10 per cent pot
Net profit on Lehigh Coal....................
386,354
370,101
396,108 annum on pref. stock and 4 per cent on consol, stock.
Royalty on coal mined by lessees___
3,642
4,441)
P en n sy lv an ia ..—Worked in interest of Pennsylvania RR., whioh
Revenue from ren ts.............................
33,463
36,531> 52,524
uarantees interest on bonds. An old mortgage balance of $67,000 is
Miscellaneous receipts.........................
12,157
22,358)
ue in 1887. Earnings in 1884, $319,685; net, $127,317; interest, taxes.
&c., $180,330; loss, $53,017. Earnings in 1885, $274,207; net, $128.765:
»v <>,«««,
$2,194,489 $2,048,551 $1,984,676 interest, &c., $175,350; def., $46,584.
S ch u y lk ill N a v ig a tion .—Leased from June 1,1870, to Philadel
Disbursements—
1883.
1884.
1885. phia
&
Reading
for
999
years.
The
unpaid
rental
by
P.
&
R. to Deo.
$65,064
$58,460
$59,454
31, 1885, was $748,033. In 1885, the cash receipts were $242,946:
97,050
97,050
73,081 payments
(including
$230,363
interest
on
loan),
$240,173;
Rent and taxes Delaware Div. Canal.
81,438
69,921
61,965 $2,773. The P. & R. receivers in July, 1884, declined to furnishbalance,
money
Taxes.....................................................
71,916
80,078
80,039
dividends on stock, claiming that it had not been earned, and thf»
934,377
854,069
844,488 for
question went beforethe Court,hutwas not settled. TheP. & R. has paid
$1,249,845 $1,159,578 $1,119,027 some of the coupons and purchased others. At the annual meeting in
February, 1886, a committee was appointed to consider the status of
$944,644 $888,973 $865,649 affairs as to the lease, &o., <fec. (V. 40, p. 2 4 0 } V. 42, p. 207
Less sink. fd. o f 10 p. o. p. ton on coal
$92,082
$80,717
$93,558
Su sq u eh an n a.—Leased and operated by Philadelphia & Reading
Less depreo’n on coal, im prVm ’ts.&c.
97,157
76,026
86,869 Railroad for interest on bonds and half of net earnings. Tho stock is e x
changed for Phila. <fe Reading, two of oanal stook for one 0 *Reading,
Total................................................ $189,239 $156,743 $180,427 The floating debt is considerable.
f
O ctober , 1886,]
MISCELLANEOUS
STOCKS
AND
BONDS.
99
Subscribers w i ll confer a great favor b y g iv in g im m ed ia te n otice o f an y error discovered in these T a b les.
Bonds—Princi
INTEREST OR DIVIDENDS.
DESCRIPTION.
pal, When Due.
Date Size, or
Amount
Stocks—Last
Where
Payable,
and
by
When
Rate
per
Par
of
For explanation of column headings, Ac. see notes on
Dividend.
whom.
Bonds Value. Outstanding Cent. Payable
first page of tables.
Sept. 1, 1886
N.
Y.,
Company’s
Office.
Q
.-M
.
2
$12,000,000
$100
Adams Express—Stook............................................................
3
Q .-J . Boston, Compy’s Office. Oct. 15,1886
9,802,100
100
Am erican Bell Telephone—Stock.. . . ----- ••••••■ . . . . . . —
100 14,000,000
1>4 Q .-M . N. Y., West. Union Tel. Sept. 1, 1886
Amer. Tel. <&Cable—Stock, guar. 5 by West. U n ion .............
Mar. 10, 1886
2
M. A S. N. Y., 1 Broadway.
1.500,000
25
Am erican Goal (M aryland)—S tock ................................ .
100 30,000,000
Am erican Cotton Oil Trust—Certificates..... .......................
j . a ” j . N. Y., Company’s Office. July 1," 1886
’3 ”
100 18,000,000
American Express—Stock........................................ ...............
719,875
16^4
Canton Company—Stock(44,300shares).............................
Jan., 1875
2,127,300 7 scrip.
100
Central New Jersey Land—Stock. . . . . . . . . . - - - — .................
July 15,1886
1
4,006,600
Q.—J.
100
Central <£ South Americ m Telegraph—Stock............. . . . . . .
100 10,000,000
Colorado Goal <&Iron—Stock..................................
3,499,000
1,000
6 g. F. "Â" A. N.Y., Company’s Offloe. Feb.’ T , "¿90 0
1st consol, mortgage, g old ..............................- -- ................ 1880
1,920,000
100
Commercial Telegram—Stock ($200,000 is pref.)...............
***' N.Y., Co.’s Office, 71 B’y Jan. 28, 1886
’
l”
100 10,250,000
Consolidation Coal o f Maryland—Stock...............................
Jan. 1, 1897
do
do
J. À J.
6
2,449,500
1,000
1st mortgage, consolidated, convertible............................. 1872
June, 1$86
1*9
100 35,430,060
Consolidated Oas (N .T .)—Stock.............................................
May
1, 1888
N.
Y.,
Company’s
Offloe.
M.
A
N.
7
291,000
Bonds, Municipal Gaslight Co.............................................
Aug.
1, 1901
do
do
F.
A
A.
6
658,000
Bonds, Metropolitan Gaslight Co.........................................
June
1,
1898
do
do
J.
A
D.
6
670,000
Bonds, Knickerbocker Gaslight Co.....................................
N.Y.,
19
Courtland
St.
A. A O.
(?)
6
500,000
100
Cumberland Coal <£Iron—Stock............................................
Oct.
1,
1886
N.
Y.,
West.
Union
Tel.
Q
.-J
.
5,000,000
1*3
100
Cold <&Stock Telegraph-S tock ............... - ...............................
Q .-J . N. Y., West. Union Tel. Oct. 1, 1886
3,000,000
1*2
International Ocean Telegraph—Stock........ - ........... *...........
Nov.
2,
1885
Boston,
Treas.
Office.
2
1,052,800
100
Iowa BR. Land Co.—Stock............... .— .........................
Nov. 1, 1886
3
2,000,000
Iron Steamboat Company—Stock........................................ —
J. A J. N. Y., First Nat. Bank. July 1, 1901
6
500,000
500
Bonds................................................................................... -• 1881
8,700,000
Lehigh <£ Wilkesbarre Coal—Stock........................................
” 1899
....
6
1,795,000
Sterling loan....................................................... *..................
N. Y., 160 Broadway,
6A7
466,879
Mortgage loans ($110,000 are 7 s )........
June
1, 1900
do
do
Q
.-M
.
7
11,500,000
1,000
1875
Consol, mort. ($6,116,000 of this held by Cent, of N. J.).
do
do
1,038,607 5, 6 A 7
M
ay’
!
, ' 1888
do
do
M.
A
N.
7
3,472,300
100 Ac.
Inc’me bds,reg.(not cum.) $2,353,000 held by Cent. N.J.
100 10,000,000
Mariposa Land <&M ining—Stock...........................................
5,000,000
—
100
Preferred stock.......................................................................
Jan. 1, 1886
New York.|
j . a” j .
1,000
250.000
Mortgage bonds.................................................... - ................ 1875
C om m ercial T eleg ra m C o.—This company was incorporated in
A d am s E x p ress.—No reports; no information.
A m erican B e ll T elephon e C o,—See report for the year ending ’82 under general telegraph law of N. Y. State. It furnishes stock quota*
Dec. 31,1885, in Ch ro n icle , V. 42, p 430. In 1885 paid 16 per cent tions by “ tickers” in 'few York, and by sub-companies in other cities.
On Jan. 31, by statement to Stock Exohange, the inoome was $6,770
dividends, including two extra dividends. (V. 42, p. 430.)
per month and expenses $4,758. The pref. stock has a prior claim for
A m erican E x press.—No reports.
A m erican Telegraph Sc Cable Co.—Owns two cables between 6 per cent dividend per annum. John Anderson, President and Treas.
Senuon Cove, England, and Dover Bay, Nova Scotia. The stock of
C onsolidated « a s o f N ew Y o r k .—This company was organized
$10,000,000 was 70 per cent paid up, and in April, 1882, a pooling ar Nov. 11,1884, under chapter 367, laws of New York, 1884. The 00mrangement was made with the other cable companies for 38 years, by oanies merged in it were the New York Gaslight, the Municipal Gaswhich this company receives 2213 Per cent of combined revenues while ight. the Metropolitan Gaslight, the Manhattan Gaslight and the Harlem
both its cables are working and 12 »a per cent if only one is working Gaslight. The total stock was $39,078,000, of which $3,647,940 was
which percentages hold good for one year after any breaking of the reserved for working capital and for indebtedness of old companies.
cables; if not repaired within that time the percentages are reduced - ( V . 42, p. 22, 215.)
according to the time that the cables remain broken. Then -this com
C on solidation C oal.—Annual report for 1885 was in V. 42, p. 214
pany’s cables were leased to Western Union for 50 years, with a guar The gross receipts from mines, railroads, rents, 1885.
1884.
anty of 5 per cent per annum on the stock increased to $14,00<> 000.
Ac (incl’g value of stick of coal on hand), were.$2,055,313 $2,222,082
A m erican C oal.—There are mortgage bonds for $200,000. The Tot.expen’s o f every kind (excl. ofint. Asink. f d . , __
annual report for 1885 gave the following information: Income, 1885,
but inch steel rails A all extraordin’ry outlays). 1,750,772 1,904,603
87,989; total expenses, $451,425; balance, $36,565. (V. 42, p. 271.)
Net receipts........................... .......................... $304,54 »
$317,479
A m erican C otton Oil T r u st.—This is a “ Trust” formed to conThe int. and sink, f d. in 1885 took $167,527; balance, surplus, $137,013.
ol a large proportion of the cotton seed oil mills of the United States,
Consolidated mortgage bonds are held to retire old bonds. This 00m
e Board of Management consists of nine trustees, of whom three are
lected each year. The title deeds of the several properties owned are pany guarantees also 2d rnortg. bonds of the Cumberland A Pennsyl
eposited with the trustees, who issue their trust certificates of $100 vania; and assumes $135,000 of the Union Mining Co.’s bonds. The
each, and these are dealt in at the exchanges. The above certificates to total bonded debt on lands and railroads is $2,417,500. (V. 40, p. 2 6 8 ;
the amount of $30,000,000 are said to represent property of a cash V. 42, p. 2 1 4 .)
value of about $15,000,000. Other facts were noticed in tbe Chronicle
In tern ation a l Ocean Telegraph Co.—The Western Union Co.
of Sept. 11,1886, V. 43, p. 302. The present Board of Management is operates the line oy contract for 99 years from Jan. 1,1882, paying 6
composed of John V. Lewis, W. P. Anderson, F. H. Baldwin, of Cincin per cent per year on stock.
nati; W. H. Burnett, of Chicago; J. W. CooUrane, of Memphis; E. Urqu« o l d A Stock T elegrap h Co.—Operated by West. Un. Tel. Co. by
art, Little Rook; J. Aldige. New Orleans; Lyman Klapp, Providence, contract for 99 years from Jan. 1, ’82, at 6 per cent per annum on stock.
R. I.; J. L. Micaulay, New York. The principal office of the Trust is at
I o w a R a ilro a d L a n d .—The total land owned was 39,067 acres
18 Broadway, New York. The officers are Jonn Y. Lewis, President; E.
Urquart, Vice-President; J. L. Macaulay. Treasurer; Jules Aldige, Seo’y. March 31,1885.
Ir o n Steam boat Co.—Property consists of seven iron steamboats.
C anton Com pany (B a lt.)—The capital stock, by changes made
subsequent to the original issue, became praetioally only $16 25 par Bonds and stock listed in June, 1882. Stock, $2,000,000. Gross earn
per snare, and was reduced by purchase and cancellation to 44,300 ings in 1884-5. $372,423; net, $110,519. Paid interest on bonds, $30,•hares. A brief history of the company was given in Y. 30, p. 117. The 000: special deposit with F. L. A T. Co., $35,000; invested in company's
company owned the stock of the Union RB. Co. and guaranteed its bonds bonds, $20,000; dividend on stock (3 per cent, Nov. ’85). $60,000;
but sold this stock ($600,000) to the Northern Central RR. in April. total, $L45,000; deficiency, $34,486; but there was a surplus from
1882, for $594,000. The Union RR. sinking fund of $689,885 remained previous year of $74,988, leaving surplus Oct. 15, 1885, $40,507. (V.
the property of Canton Co., but is held by the trustees till bonds have 41, p. 4 9 5 ; V. 43, p. 452.)
been paid off at maturity. The last of Canton Co. bonds were paid
L eh ig h Sc W ilk esb a rre C oal.—This company was organized Feb.
July, 1886. (V. 40, p. 716; V. 42, p. 752.
6,1874. It is controlled by the Central RR. of New Jersey through
Central N ew Jersey L an d im p r o v e m e n t.—The statement for ownership of a majority of the stock, and the Central of New Jersey
<; he year ending Deoember 31,1885, showed total receipts in 1885 of owns $6,116,000 of the consol, mortgage bonds and $2,353,000 of the
$44,476. The balance sheet, December 31, 1885, gave the following income bonds. The L. A W. Coal Co. also assumes and counts as part of
value of lands owned: Newark lands, $255,408; Bergen, $537,976: its funded debt $747,500 bonds due 1894, and $500,000 bonds due 1897,
Elizabeth, $164,950; Westfield, $26,307; Fan wood, $493,361; Plain- of the Lehigh Coal A Nav. Co. The company was in receiver’s hands
field, $304,756; Dunellen, $346,048; Somerville, $77,861; Clinton, with Central of New Jersey, and in March, 1882, the receiver was dis
$4,780; Bloomsbury, $26,345; Phillipsburg, $1,500; total, $2,239,294. charged and property returned to its stockholders. Mr. W. H. TillingBonds, Ac., $25,883; land contracts, $15,890.
hast, Pres’t. N. Y. City. The annual report for 1885 was in V. 42, p. 214.
Central Sc South A m . T eleg ra p h .—Line from Vera Cruz, Mexico, (V. 42, p. 21 4 .)
to Chorrilios, Peru, with branches, 3 ,10O miles of oable and 335 miles of
M arip osa L an d Sc M in in g .—There are outstanding only 15,000
land lines. Completed November, 1882. Connects at Lima with West shares, the balance being owned by company. Litigation has been in
Coast Tel. Co. of America, having 1,700 miles of oable to Valparaiso, progress many years and nothing done on the estate.'
and at Vera Cruz with Mexican Telegraph Co. Stock is $5,000,000; no
M aryla n d Coal C o.—No late report. The business of 1882 included
bonds. Surplus revenue Dec. 31, 1885, after providing for dividend,
$68,191. James A. Sorymser, Pres’t, N. Y. (V. 40, p. 1 5 0 ; V. 23. p. to6.) total shipment» of 97,777 tons.
The profit and loss account in 1882 was as follow s: Balance Jan, 1,
C olorado Coal Sc Ir o n .—This company, with headquarters at Col
orado Springs, Col., was a consolidation Dec. 13,1879, of the Central 1882, $16,780; balance credit coal account, $ 2 1,885—$11,666. Ex
Colorado Improvement Co., the Colorado Coal A Steel Works, and the penses—interest, $7,091; interest on bonds, $11,270; taxes, $7,781 ;
salaries and expenses, $13,221; legal expenses, $501—$40,276; balance
Boulnem Colorado Coal A Iron Co. Stock is non-assessable.
An abstract of the report of 1885 was in the Ch ronicle , V. 42, p. 337, Jan. 1,1883, $1,389.
showing gross earnings and net inoome as below stated.
M exican T e le g r a p h .—Company organized in 1878 under laws of
earn in gs and e xpen ses ,
New York State. Has a cable from Galveston to Tampico and Vera
-1884,
------- 1885.
Cruz, 738 miles; land line, Vera Cruz to Mexico City, 267 miles
Gross
Net
Gross
Has exclusive right for 50 years for all foreign telegrams to viexico,
Net
Earnings. Earnings. EamiUgs. Earnings. except telegrams to and from a neutral zone on the United States
$757,460 $134,030 border 156 miles wide, between the Gulf and Pacific Ocean Company
Coal department............ $729,331
$60,025
359,764
118,949
Coke department.......
322,427
110,077 owns 1,362 shares of the Central A South American Telegraph Co. Rev
928.011 loss.63,553
Iron and steel dep’t ..
562,236 loss26,427 enues in ’ 85, $201,387; expenses, $70,201; dividends, 8 p. 0., $114-,
Iron mines dep’t .........
39,567
447
7,937 loss.2,096 752; surplus, $16,334. Capital stoox is $1,500,000. Jas. A. Sorymser,
27,532
10,630
24,651
Real estate dep’t ........
7,059 Prest., N; Y. (V. 40, p. 182; V. 42, p. 339.)
4,692
4,692
Miscellaneous eara’gs.
4,729
4,729
N ew Central Coal (M d .)—The annual report for 1885. in V. 42, p.
271, showed net profits for year of $16,244 ; and balance to credit o f
Totals.........................$2,088,900 $131,191 $1,679,440 $227,373 profit and loss Dec. 31,1885, of $296,118. (V. 40, p .2 6 8 ; V.42,p.271.)
INCOME ACCOUNT.
N ew Y o r k M u tu al T eleg ra p h .—The Mutual Union Tele rraph
1884.
1885.
$131,191 $227,373 Co. was organized under New York State laws. Stock was $600,000 and
Net earnings...............................
afterward
increased to $10,000,000. In Feb., 1883, a lease to Western
10,743
6,753
Add inoome from investments.
Union for 99 years was agreed to at 1*3 per cent yearly dividends on
$137,944 $238,116 the stock and interest on the bonds. The organization was changed to
Total..................................................................
Less interest on bonds...............................
...
209.940
209,940 the New York Mutual Telegraph Company and the stock was reduced w»
Less interest, discount and exohange....... ..........
9.885
2,432 $2, 500,000, carrying dividends of 6 per cent per annum. (V. 40, c . 508.
N ew Y o r k Sc T ex a s L au d—This company took the lands granted
$319,825 $212, ->7<£
Surplus or deficiency...................................... daf.81.880 sur.25,744 to the International and Houston A Great Northern railroads, about
Increase in 1885 over 1884.........................................................
107,624 5,000,000 acres, which were given in settlement to the boldeis or con
In the real estate department the earnings are wholly from rentals of vertible and second mortgage wonds. Up to Doc., 1885, it was reported
t
houses, lands, Ac., containing no receipts from land sales. V. 40, p. that about 1,400,000 acres had been sold. This woulu leave
3,600,000 acres of land unsold. (V. 40, p. 241.)
3 9 » ; V. 42, p. 3 3 7 , 463.)
100
INVESTORS'
SUPPLEMENT.
|Vo l .
XLIII,
Subscribers w ill confer a great favor by g iv in g Im m ediate notice o f any error discovered in these Tables*
Bonds—Princi
INTEREST OR DIVIDENDS.
DESCRIPTION.
Date Size, or
Due.
Amount Rate pei When Where Payable, and by pal,When
Par Outstanding
Stocks—Last
For explanation of column headings, &c., see notes on first of
Whom.
Bonds Value.
page of tables.
Cent. Payable
Dividend.
$100
Maryland Goal—Stoch................................................ ............
1,000
Braid................................ .................................
Mexican Telegraph—S to ck .....................................................
yew Central Goal—Stock..........................................................
N. Y._Mutual Telegraph—Stock, guaranteed 6 per cen t. . . .
1st mortgage bonds, gold, guar, by West. Union ..............
New York A Texas Land fLimited) —Stock............................
Land scrip receivable 75 per cent for lands.....................
Debentures, registered.............................................. ..........
Northwestern Telegraph—Stock...................... ....... ..............
Bonds, interest guaranteed.................................................
Oregon Improvement Go.—Stock.............................................
IstM ., gold, sink, fd., $210,000 held in s. f., but draw int.
2d mort. for $1,200,000 (redeemable any coupon day.)..
Pacitic Mail Steamship—Stock..... .........................................
Pennsylvania Goal—Stock............. .•................................ . —
Philadelphia Company—Stock...................... .....................
Postal Telegraph A Gable Go.—Stock ($21,000,000).............
1st mortgage (for $10,000,000)............................................
Pullman Palace Oar—S tock ..................................................
Bbnds, 3d series......................................................................
Bonds, 4th series........................... ......................................
Bonds, debenture........................................ ........................
Quicksilver Mining—Common stock.......................................
Preferred 7 per cent stock, not cumulative.......................
Railroad Equipment Go.—Stock (for $1,500,000)................
Coupon bonds. (See remarks below.).................................
St. Louis Bridge A Tunnel BB.—Bridge stock, common.......
1st preferred stock, guar......................................................
2d preferred stbck, guar.....................................................
100
100
25
1881
1,000
50
50
1880
1885
Too
1,000
Too
50
50
1872
1872
1878
100
1,000
1,000
1,000
100
100
Var’s.
100
1,000
100
100
100
$4,400,000
161,000
1.434.400
5.000.
000
2.500.000
5.000.
000
1.500.000
2.959.400
50,000
2.500.000
1.180.000
7.000.
000
5.000. 000
None issued.
20 , 000,000
5.000.000
6.500.000
7.000.
000
3.000. 000
15,927,200
445.000
820.000
955.000
5,708,700
4,291.300
900.000
4.102.000
2.500.000
2.490.000
3.000.
000
Jan. 1, 1876
M. & N. N. Y., 135* Broad way. Nov. 1, 1906
F. «fe A. N. Y., Company’s Office. July 6, 1886
New York, Office.
Feb. 3, 1886
New York.
July 1, 1886
J. «fe J.
M. «fe N. New York, 1st Nat. Bk. May 1, 1911
1900
«feJ. N. Y. West. Un. Tel. Co. July 1, 1886
Jan. 1, 1904
do
do
«feJ.
Sept. 15, 1883
&S.
«feD. N.Y., Farmers’ L.&T.Co Dec. 1, 19 LO
1895
Feb. 1, 1886
Q .-F .
Nov. 1, 1886
N. Y., 1 Broadway.
Q.—F.
M’thly
J.
J.
M.
J.
N.Y. Am. Exch. Nat. Bk.
Q .-F . N. Y., Farm L. <&T. Co.
Q .-F .
do
do
do
do
Q.—F.
A. «& O.
do
do
Nov. 15, 1886
Feb. 15, 1887
Aug. 15, 1892
Oct. 15, 1888
May, 1882
Aug. 15, 1886
Q.—F. N,Y., Post, Martin <&Co. Nov. 1, 1886
do
do
Quar’ly
Various.
J. & J. N. Y., Drexei, M. <fe Co. July T , ' 1886
do
do
July 1, 1886
J. «fe J.
P u llm a n Palace Car .—The stock has been increased from time to
N orthw estern T eleg ra p h .—This company owns 8,000 miles of
■wire and is leased to Western Union for 99 years, with guaranteed divi time to provide new capital, as wanted, since the price, ruling above
dends of 4 per cent at first, rising one-eighth per cent a year to 6 in par. gave a bonus to stockholders when subscribing for new stock.
Annual report for year ending July, 31, ’86, was in Chronicle, V. 43,
1897 and afterward. The bond interest is guaranteed.
Oregon Im p ro vem en t C o.—This company owns $3,000,000 stock p. 486. Income account for three years was as follows;
Bevenue—
1883-84.
1884-85.
1885-86.
of the Seattle Coal <& Transp. Co.; $575,000 stock of the Columbia <fe
Puget Sound RR.; $1,969,000 stock of the Pacific Coast S. S. Co. ; Earnings (leased lines included)....... $3,912,510 $4,946,151 $5,075,383
170,000 acres of lands, and other real estate. Floating debt May 31, Patent royalties, manuf. profits, «feo..
543,947
667,477 548,129
1886, $913,381, and assets $430,820 (see report in V. 43, p. 308). For
1884-85 gross earnings were $2,882,207 ; net, $632,461. Gross earn
Total revenue.................................. 4,456,457 5,613,628 5,623,512
ings Deo. 1 to Aug. 31, in 1885-86, $2,069,266, against $2,092,797 in
1884-85 ; net, $489,056, against $409,234. (V. 42, p. 125, 243, 365, Oper. expenses, «feo. incl. leased lines. 1,316,387 1,949,655 2,057,627
Paid other sleeping-car associations
488, 604, 728; V. 43, p. 49,191, 3 0 8 , 459.)
controlled and operated..................
136,556
708,005 802,176
Pacific M a il Steam ship.—The Pacific Railroads gave to the steam
264,000
162,529
66,000
ship company a monthly subsidy of $85,000 per month—this agree Rentals of leased lines..........................
Coupon
interest
on
bonds...................
171,466
171,453 168,050
ment terminable on 30 days’ notice after Nov., 1885, and such notice
was given in Feb., 1886, and the agreement stopped. The annual report Dividends on capital s to c k ................ 1,339,621 1,273,962 1,274,028
100,000
100,000
for fiscal year ending April 30,1886, was in the Ch ro n icle , V. 42, p. Contingency account................................................
Profit and lo s s ......................................
35,733
.......... .
......
662. ; President, J. B. Houston, N. Y.
A t the annual meeting of the stockholders in May, 1886, the follow
Total disbursements....................... 3,263,763 4,365,604 4,467,881
ing were re-elected directors for the ensuing year: Messrs. Jay Gould,
Russell Sage, C. P. Huntington, Henry Hart, William Remsen, Edward Net result.............................................. 1,192,694 1.248,024 1,155,63'
—(V. 40, p. 356, 570; V. 41, p. 242, 4 7 1 ; V. 42, p. 23, 4 8 6 .)
Lauterbach, J. W. Shaw and J, B. Houston.
Tne following is a statement of the earnings and expenses for the
Q uick silver M in in g .—Bonds paid off July, 1879. The preferred
years ending April 30 :
stock is entitled to 7 p. ct. per annum, not cumulative, and any surplus
EARNINGS.
goes to the common and preferred equally. A proposition in 1885 to
1883-84.
1884-85.
1885-86. retire the preferred stock with an issue of bonds was abandoned. See
$991,094 $1,016,172
$957,810 annuái report for 1885-86 in V. 43, p. 72, showing net income for the
Atlantic Line....................................
1,790,927
1,848,781 1,603,536 year of $140,394; (V. 41, p. 557; V. 43, p. 72.)
Panama Line....................................
1,251,762
1,547,225 1,534,272
Trans-Pacific Line..........................
R a ilro a d E qu ipm en t Co.—This company leasés equipment to
159,066
166,414 railroads on the “ Car Trust” plan, taking obligations of the railroad com
369,288
Australian Line..................... .........
87,366
180,190
Austral’n and N. Zeal, subsidies..
48,788 panies running not over ten years at the utmost, which cover the princi
100,250
105,500
101,OuO pal and interest of the special series of bonds issued by the Equipment
Cent. Am. and Mexican subsidies..
5,500
Hawaiian Government subsidy...
2,667
2,667 Co. running for similar periods. The title remains in the lessor till lait
1884-85.
1885-86. payment is made, and then vests in the purchasing railroad. In the
1883-84.
$14,694
$14,766
$21,253 meantime the title is held in trust for bondholders and the bonds are
Interest and divs. on investments.
45,666
43,853
40,863 virtually a mortgage on the rolling stock, till paid off.
Miscellaneous...................................
33,278
6,047
3,335
Exchange — ...................................
St. L ouis B rid ge & T u n n e l R a ilro a d .—The railroad and tunnel
Total..........................— ............. $4,787,899 $4,826,193 $4,479,939 were sold under the mortgage of 1873, July 1,1878. Foreclosure under
the first and second mortgages on the bridge was made Deo. 20, 1878.
EXPENSES.
On July 1, 1881, the bridge and Tunnel Railroad were leased to the Mo.
Pacific and Wabash St. Louis <fc Pacific for the term of their cor
1883-84.
1884-85
1885-86.
Atlantio Line........ . . . .............
$576,125
$579,028
$608,065 porate charters, on the terms following, viz.; Of the stock $2,490,000
Panama Line.....................................
1,167,214 1,100,506 1,080,241 first preferred, by the terms of the lease, is guaranteed 6 per cent;
Trims-Pacific Line.........................
635,479
737,392
714,100 $3,000,000 second preferred is guaranteed 3 per cent per annum.
Australian Line..................................
408,326
194,718
149,490 The railroad stock of $1,250,000 is guaranteed 6 per cent a year.
Agencies.........................................
392,785
413,185
457,367 The whole annual charge for rentals is $670,000, one-half payable by
Miscellaneous expenses...................
214,490
184,309
170,191 Missouri Pacific and one-half by Wabash. The common stock was held
by the London Reorganization Committee, and under the lease was
Total.............................
$3,394,419 $3,209,138 $3,179,454 transferred to Mercantile Trust Company of N. Y. with power to vote
Net earnings.......................... $1,393,480 $1,617,055 $1,300.485 thereon. In the year ending Dec. 31,1885, gross earnings were $1,542,The following is a statement of the assets of the company on April 30, 879; fixed charges and guar, div’ds, $873,522; surplus balance, $2,042.
’85, no balance sheetto April 30, ’86, being given in the annual report:
S te r lin g I r o n & R a i l w a y .—The property of this company, in
ASSETS.
Orange County N. Y ., (and a few acres in Rockland) consists of 25,000
1883.
1884.
1885.
acres of land, with furnaces, «feo., having a capacity of 15,000 tons of
Cost of steamers...................
$12,382,159 $11,266,815 $11,543,681 pig iron per year, and 8^a miles of railroad, houses, «feo. The company
Beal estate and improvements...
1,079,513
1,079,513 1,079,513 endorses the $471,674 bonds of the Sterling Mountain RR. A. W.
Coals, supplies, «fee.............................
369,774
478,307
583,611 Humphreys, President, 42 Pine Street, N. Y.
Sundry assets............................
264,947 1,286,981 613,441
Sutro T u n n e l.—Tunnel on Comstock Lode for facilitating mining
Profit and loss...............................
7,198,895
7,076,209 6,529.596 operations. (V. 43, p. 191.)
T en n . Coal Ir o n A R R . C o.—This company, organized in 1881,
Total ........ . ............................$21,295,288 $21,187,819 $20,349,842
—(V. 41, p. 331, 357, 393, 473; V. 42, p. 126, 243, 6 6 2 ; V. 13, p. 368.) has acquired the properties of the Sewanee Mining Co. and the South
ern States Coal Iron <fe Land Co. (limited), the indebtedness of the two
P en n sy lv an ia C oal.—Liabilities at a minimum, and quarterly companies being settled by the Tenn. Coal Iron <fe RR. co. The prop
erty owned consists of twenty miles of railroad and equipment, and coal
dividends of 4 per cent paid, with possible extras.
mines, foundries, saw mills, &c., «feo., located in Grundy, Franklin and
P h i l a d e l p h i a C o m p a n y .—The company was incorporated by Marion counties, Tenn,, its business being the mining of iron ore and
Bpec.ial act in Pennsylvania, March 22, 1871, as the Empire Contract converting it into pig iron. Eaougli of the consol bondsare reserved to
Company, and after various changes toon the present name June 11, retire prior issues; in addition to the bonds asgivenabove, there aro
1 8 3 £ It has absorbed a number of different companies and controls a $167,000 of the various issues held in sinking funds. In Dot., 1888, the
large share of the natural gas production about Pittsburg and vicinity, Nashv. Chat. <fe 8t. Louis RR. bought the twenty miles of road belonging
owning or leasing 58,000 acres of gas territory and about 350 miles of to the T. C. <fc I. Co., paying $500,000 6 per cent bonds for it. The gross
pipes. Geo. Westinghouse, Jr., President.
earnings for year ending Jan. 31,1885, were $1,384,585; net, $231,139 ;.
Nathaniel Baxter, Jr., Presi
P o s t a l T e le g r a p h & C a h le—Of the stock $7,000,000 is out interest, $112,452,'surplus, $118,687.
standing, $12,000,000 is held in trust, and balance remains dent, Nashville, Tenn. (V. 43, p. 431, 459.)
U
nited
Lines
T
e
le
g
r
a
p
h
.—This
company was formed i n
in treasury. Mr. J. W. Mackey is the President.
The name
o f the Postal Telegraph Co. was changed November, 1883. August, 1885, as successor to the Bankers’ <fc Merchants’ Tel., sold i n
foreclosure
July
31,
1885,
subject
to
prior
mort.
of about $300,000. See
(See V. 37, p. 564). The Postal Telegraph Company sold all its
property and franchises to the Postal Telegraph <fe Cable Co., which was account o f sale a n d list of property sold in C h r o n i c l e , Y . 41, p. 122. In
the
S
u
p
p
l
e
m
e
n
t
prior
to
sale
the
following
account
of the Bankers <fc
organized under the laws of this State expressly for this purpose.
,
,
,,
In May, 1885, receivers were appointed, and a scheme for reorganiza Merchants’ was given, viz.:
“ Organized March 31,1881, under laws of New York State. Author
tion of the Postal Telegraph <&Cable Co. was proposed, as stated in V.
40, p. 626, 645, by which the company will have no bonded debt and iz e d capital, $10,000,000. In Sept., 1883, this company negotiated for
stock for $5,000,000 only. The present bonds will take new stock for the control of the stock of the Southern and the American Rapid Tele
35 per cent of their face, and the old stock will receive 5 per cent of its graph, making a practical consolidation of the three lines. The Am.
amount in new. Foreclosure suit begun by Farmers’ Loan <fe Trust Rap. Tel. Co. is bonded for $3,000,000 and stocked for $3,000,000. The
Co- Nov., 1885, and sale took place Jan. 15,1886, for a nominal price of Southern Telegraph Company is bonded for $2,500,000 and stocked for
$5,000.000. The line of the Bankers’ <&Merchants’ from New York to
$280,000. See V. 42, p. 94. (V, 41, p. 516; V. 42, p. 94; V. 43, p. 125.)
O cto b er , 1886. J
m is c e l l a n e o u s
sto cks
101
bonds.
and
INTEREST OR DIVIDENDS.
\
DESCRIPTION.
Date Size, or
Amount
per When Where Payable and by Stocks—Laut
Par
Oatstanding Rate
For explanation of column headings, &c., see notes on first of
Dividend.
Whom.
Cent. Payable
Bonds Value.
page of tables.
St. Louis bridge <t Tunnel HR.—( Oontinued)
1st mortgage, new, sinkingfund..................................-••*
Tunnel FR. of St. Louis, stock, gu ar..........
Southern dk Atlantic Telegraph-^-Stock (guar. 5 per cent.)..
Sterling Iron <&Railway.—Stock
.................- ..............
Mortgage bonds, income, senes B ............. - ...................
Plain income b on d s............. - ....... *...............................
Sutro Tunnel—Stock.................- ..............................................
Mortgage (no bonds)........ - -- -- ............................................
Tennessee Cool Iron cfi RR. Co —Stocky... -..........................
1st and 2d M. bonds Teun. Coal & JRR. Co.........................
3 d M Tenu. Coal& RR. C o .........
o ftö 'o b o i'"
C onsol, mort. Teun. coal Iron & RR-Co. ($1,000,UUU)...
So. Pitts. Div. 1st more.T. C. I. & R R / ^ ^ - v ,- ..........
General mort. <$5"0.000> Tenn. C. I. & RR. C o .........
United Lines Telegraph—\
S fock .....
Vwim...........
1st mortgage (subject to old lien of $300,000)..........
2d mortgage (for $3.600,OuO)..........................- ...................
United States Express—Stock........- -- -- - ................................
Wells, Fargo dk Company Express—Stook...............................
Western Onion Telegraph—S t o c k .......................................
Real estate bonds, gold, sinking fund.. . . . . . . . . . . . - - -. ---■
Bonds, coup, or reg., conv. till May, 85, sink. id. 1 p. ct.
Sterling bonds, coupon (sinking fund 1 p. ct. per annum)
1879
1880
1876
1879
1879
1879
1881
1382
1384
1885
1872
1875
1875
$5,000,000
1,250,000
948,875
2,300,000
418,000
495,575
1,000
20.0OO.000
10
997,863
3,000,000
115,000
200 &c
100, 00
l.OnO
695,000
1.U00
673,000
1,000
$1,000
'*25
50
500 &c.
1,000
U n ited States E x press.—No reports. (V, 42, p. 632.)
W e lls , Fargo Sc Com pany E xpress.—An increase in capital to
$6,250,000 was made in 1879. No reports.
W e ste rn U n io n T eleg ra p h .—On the practical consolidation with
the Atlantic & Pacific in 1878 the Western Union had a monopoly of tele
graphing business in the United States. In 1879 the American Umon
opposition line was started under the auspices of Mr. Jay Gould. The
Western Umon Co. divided up its surplus stock, making a scrip dividend
o f 17 per cent to stockholders of record June 20, 1879. On Jan. 19
1881, was dated the grand consolidation, in which the Western Union
raised its stock to $80.000.000. giving par. or $15.000.000. for the stock
and bonds of the American Union; 60 per cent for old Atlantic & Pacific
stock was given in new Western Union; and a stock distribution of 38
per cent to Western Union shareholders. An injunction was obtained
against the stock distribution and litigation ensued, and the stock
dividend was finally held to be legal by the N. Y. Court of Appeals in
__
October, 1883.
¿Sj
. , . ■_ .
The Mutual Union Telegraph made an opposition line, but in February,
1883, a lease was agreed upon. The Western Union also leases the Amer
loan Cable, with a guarantee of 5 per cent per annum on its stock of
$14,0<>o,ou0.
„
i
j i ,,
In March, 1886, the company decided to pay the April dividend of l-*a
per cent in scrip, as per statement in V. 42, p 339__
'
* The statement for the quarter ending Sept. 30,1886 (partly estimated),
was as follows, compared witli tbe actual figures for same quarter In
1&85*
*
-Quarter ending Sept. 30
-1886, Estimated.
■1885, ActnaL$1,2U0,000
$1,250,569
Net revenue....................
Deduct—
$123,615
Interest on bon d s.......... $123,768
20,000— 143,615
143,768
Sinkingfund .......... .
20,000—
$1,106,801
(1*2 p. 0.) 1.199.846
$1,056,385
Balance........................... .................. def. $93,045
Audsurplus June 30......................... 4,3i4,u04
sur. $1,056,385
4,309.833
Surplus Sept. 30.......................... $4,230,959
$5,366.218
From the annual report published in the Ch ronicle , V. 43. p
468, tne following Is taken for the fiscal years ending June 30,1886
The revenues, expenses and profits were as follows:
6
6
6
6
....
3,000.000
6
1,200,000
3,
4, 5
(1)
1
7,000,000
100
4
6,250,000
100
80.000,000 lig sorip.
100
1,373,000
7 g.
1,000
4,920,000
1,000
a
911,250
6 g.
Philadelphia is bonded for $290.000. Payable $10.000 per year. The
Bankers’ & Mereh’ts’ owned a majority of the stock of
R M d and the
Southern, and a majority oi the Rapid bonds. The B. & M. O'yned 4/700
shares out of the 9,200 shares outstanding of the Commercial Telegram
Company’s stock. Of the $10,000.000 of first ^ ^ g ^ ^ o n d s of the
Bankers’ & Merchants’ $5,115.000 were sold and $4,786£00pledged
security for $784,374 notes of the company. In September the B. & M.
Co. i ailed to meet obligations, and Richard S. Newcombe and JamesiG.
Smith were appointed receivers and authorized afterward to issue
receivers’ certificates. In April. 1885, a foreclosure suit was begun on
the $10,000.000 mortgage. Separate receivers w erea pp oin tedforth e
Southern Telegraph and the Am. Rapid, and the Southern made a traffic
agreement with the Western Union for one year, and the receiver of
tlie American Rapid made an agreement with western Union for the
operation of its lines. '1he Bankers’ & Merchants was sold in foreclosJuly 31,4885 (see V. 41. p. 122). and the plan of reorganization
embr teed the f..Rowing points: The iorination of a
with a capital stock of not more than $3,000,000. First mortgage by
S e newcompany on all of the Property under which not more than
$1,200,000 of bonds are to be issued, with interest thereon at 6 per cent.
Second mortgage by the new company on all of the property under
which not m o r e than $ 1,600,000 of bonds are to ke n e d ; the interest
on these second mortgage bonds, however, is not to begin to m nunt
he 1st of January, 188 f, and then for the first two years only at 3 per
,ent. for the next two years at 4 per cent, and thereafter at 5 per oeut.
he general mortgage bonds outstanding were to receive a new $oOO
>nd for each $1,000 bond, being scaled one-half. The stock to receive
ae new share in exchange for four old shares.
(V. 40. p. 53, 240, 303, 363, 423, 541, 569, 6 ol, 685, 741, 763 ; V. 41,
p. 22, 75, 101,122,182, 3 6, 330, 355, 584, 722; V. 42, p. 94, 207, V.
43, p. 66,164, 264, o87, 488.)
Net incom e... ...........
Less dividend,............. .
no,"oo
7 g. A. & 0. New York and London. April 1, 1928
J. & J. N. Y., Drexel. M. & Co. July 1, 1886
3
Oct., 1886
2ia A. & O. N.Y., West. Union Tel.
....
April'Ï,’ Ï8 9 4
New York.
Feb.
7
Oct. 1,1896
....
6
....
Jan. ï , Ï891
London.
....
....
A. & O.
M. & N.
M. & N.
F. & A.
New York City
N. Y..4th Nat. Bank.
do
do
N. Y., Cent. Tr. Co.
....
.............
April Ì 5 , 1894
May 1, 1894
Nov. 1, 1901
Feb. 1, 1902
May 15, 1914
1915
,
1st coup, due July 1, ’87
Aug. 16,1886
New York, Onice.
Q —F.
JuTy 15.1886
New York, Office.
J. & J.
April 15,1886
New York, Office.
Q .-J .
M. & N. N. Y., Union Trust Co. July 15,1902
M. & N. N. Y., Treasurer’s Office July 16,1900
M. & S. London, Morton, R.& Co March 1,1900
1885-86.
18*4-<5.
1383-84.
Revenues fo r t h e y e a r ,,........ $19,632,940 $17,706,834 $16,298,639
Expenses—
$ 3,510.658
$8,544,554
Operating and gen. expenses .. $9,278,761
1,89 ¿,347
1,822,543
1,^42,690
Rentals of leased lines..............
1,273,125
1,146,871
Maiutenance & reconstruction.
1,350,448
499.592
301,732
301,077
203,061
190,210
249,528
Equipment of" offices and wires.
$12,378,783
Total expenses..............
$13,022,504 $12,005,910
$5,700,925 $3,919,856
Profits....................... .. . . .
$6,610,436
Disbursements—
$3,399,573
For dividends............................. $5,599jl79 $4,999,325
494.461
495,072
For interest on bonds.. . . . . . . . . .
472,350
39,991
39,992
39,991
For sinking funds.....................
$5,534,389
$3,934,025
$6,111,520
Total disbursements.......... .
$166,536 def $14,169
$498,916
Balance of profits.............
$4,157.469 $4.324,004
Surplus July 1 (begin’g o f yr.).. $3,658.553
166,535 def. 14,169
498,916
Balance of profits for y e a r....
Total nominal surplus June • ___ ___
30 (end of year)................ $4,157.469
$4,324,004
$4,309,835
“ Whild^the volume of traffic has oontinued to increase, theiables
show a material reduction in revenues, principally in the cable, gold and
stock and commercial news earnings. It will be remembered that for
one ha f of the previous year the cab'e rates were nfry cents per woia,
with no competition; whilst during the year covered by the for gom»
statem«ntthcr.i was active competition; and for a p o tio u or tne year
cable business was done at the twelve-oent rate, which had not bc^n in.
od ration ong enough before the clo^e of the year to deve op tne arge
imrea-e in mess iges. Notwithstanding continued reduenous urates,
the earnings irom land lines service have b^en well ma ntimeo, tne iauing off In earn ngs from messages 'rausoutted ovt r the land iini s being
less than the m. reasefiom wire rentals. * * The average ^ e received
for messages si-nt over the land lines oper >ted by the company has been
reluced to 3o^io cents per mess ig %whilst the average c*st pertain
ing to the conduct of the business of tbe conipanv m toe trans ol-s on
a id delivery or messages is reduced to a fraction under 24 cents per
me-sage, show ng a reduction in the receipts of l 2 o cen s per message,
and a reduoiion in the cost of handling ines-ag s precisely the same.
Of the increase of $373,000 in expenses, as cornpar d with the previous
year, $198,000 was in the item of taxes. $70,00 j in lino rentals and tho
remainder almo-tent.rely in cable repairs.”
_____ . , aa1
Tne range ia prices of stocks for a series of years has been. In 1881,
77@94; in 1882, 761839'338; in 1883. 713i9 8 8 ^ ; m 1884, 4 9 3 7 8 ^
in 1885,
in 4886, to Oct. 2 3 .6 0 ^ 3 7 8 ^ .
The following statement shows the mileage of lmesand wires, number
of offices, and traffic of the company, for each year from June 30, l8 o o ,
to June 30. 1886:
Miles of Miles of No. of
Profits.
Year. Poles <&O’bl’s. Wire. Offices. Messages. Receipts.
1865-66 . 37,380 75,686 2,250
6,*568,925 2.624,919
5,879,282
46,270 85,291 2,565
186667..
7,004,560 2,641,710
6,404,595
50,183 97,594 3,219
186768..
7,316,918 2,748,801
52,099 104,584 3,607 7,934,933
186869..
7,138,737 2,227,965
9,157,646
1869-70., 54,109 112,191 3,972
7,637,448 2,532,661
10,646,077
4,606
56,032
121,151
1870-71..
8,457,095 2,790,232
62,033 137,190 5,237 12,444,499
187172..
9,333,018 2,757,962
14,456,832
5,740
154,472
65,757
187273..
9,262,653 2,506,920
1873-74.. 71,585 175,735 6,188 16,329,256
9,564,574 3,229,157
1874-75.. 72,833 179,496 6,565 17,153,710 10,034,983
3,399,509
73,532 183,832 7,072
1875j.o
io -to .. 76..
, , v . « 18,729,567
; ï ’ :7 ô ’n îi
1876-77.. 76,955 194,323 7,500 21,158,941 9,812,352 3,140,127
1877:-78.. 81,002 206,202 8,014 23,918,894 9,861,355 3,551,542
1878- 7 9 .. 82,987 211,566 8,534 25,070,106 10.960,640 4,800,440
- - ■-
18798 0 .. 85,645
233.534 9,077 29,215,509 12,782,» « 4 5,833.937
18x0 81 " "TLO 340 327 17 11 0 .7 3 7 32,500,000 14,393,043 5,908,279
188182 1 3 1 0 6 0
374 368 12 068 38:842,247 1 7 ;il4 ,1 6 5 7,118.070
188283 144*294 432*72612,917 41,181,177 19,454,902 7,660,350
1883- 84 145 037 450 571 13 !76 i 42!o76;226 19,632,039 6,610,435
1h84-85*.*.147:500 4 6 2,28 314 ,184 42,096,583 17,706,833 5,700,924
lftft*»-«rt 1 -)1
4 *9 607 15*142 43.289,807 16.298,033 3 #9l9*^5o
- ( / . 40, p U L ¡3 0 , 718; V7 41, p. 3 0 7 ,4 4 4 , 689; V. 42, p. 3 3 9 ,7 2 9 :
Y. 43, p. 309, 4 5 8 .)
b a o t
BANK
Companies
Capital .
Mkd. thns(
are not Natl Par Amount.
:,
g a s
STO C K
,
in s u r a n c e
a n d
c it y
r a il r o a d
L IS T .
IN S U R A N C E
Surplus
D ividends .
at latest
dates.t Period, 1884. 1885.
Latest.
$
100 3.000.
100 5.000.
100 250.000
25 1.000.
25 300.000
America*..
000
1.633.100
J. A J,
Am. Exch.
000¿4.300 M. & N.
1.6
B ow ery.. .
308.600 J. & J.
Broadway.
000
1,42*',000
J. A J.
Butch ’s’ADr
273.700 J. A J.
f'Witral___ 100 2,000,000 502.000 J. A J.
Chase........ 100 300.000 207.000 J. & J.
Chatham... 25 450.000 4*>9 500 Q.—J.
Oiieuiical.. 100 300.000 4.697.800 Bi-m’ly.
Citizens’ . . .
25 600.000 323.600 J. & J.
City............ 100 1,000.000 1,980, *00 M. & N.
Columbia*..
25,40*
200.000
Commerce. 100 5,000.000 3.021.100 " a *J.
Commercial ...I 300,000
27,600
Continental
251.300 J . A J .
Com Exch.". 100 1,000,000 ,060,200 F. & A.
East River
25 250.000 143.500 J. & J.
11th Ward' 25 100.000
83,500 J. A J.
Fifth.......... 100 150.000 14 V,900 J. A J.
Fifth Ave*.. 100 100.000 54 «,200
First......... 100 500.000 4,587,300 Q.—j !
Fourth........ 100 3.200.000 1.222.100 J. A J.
30 300.000 2 ¿ 6,200 M. A N.
Fulton.......
G allatin__ 50 1 , 000.000 1.111.800 A. A O.
Garfield__ 50 200.000 121.700 J. A J.
Germ’nAm.* 75 750.000 174.700 P. A A.
Germ’n Ex.* 100 200.000 276.500 May.
Germania*.. 100 200,000 297.900 M. A N.
Greenwich*. I 25 200.000
55,900 M. A N.l
H anover... 1100 1 , 000,000 710.400 J. A J,
1*10,000
32.300
Imp. A Trad. I100 1.500.000 2.939,600 J. a ' j .
Irvin g........ 50 500.000 206.700 J. A J.
Leather Mfr 100 600.000 486,^00 J. A J.
Lincoln __ 100 300.000
87.600
Madis’n 8q.* 100 200.000
A J.
15,200
Manhattan * 50 2.050.000 908 900
A A.
M arket....... 100 500.000 435.300
25 2, 000.000 1,326,00*
Mechanics’
Mech. A Tr* 25 200.000
87,700
Mercantile. 100 1,000.000 399.600
Merchants’ . 50 2 ,000,000 654.600
Merch. Ex.. 50 600,000 10'*,80«
Metropolis *. 100 300.000 307.000
Mt. Morris* 10«
100.000
98.400
Murr’y Hill* 50 100,000 183.100
Nassau*...... 100 500.000 111,200
New Y ork.. 100 2, 000,000 1,425,200
N. Y. County 100 200.000
45.100
N Y.N. ExJlOO 300.000 103.200
Ninth.... . ..1100 750.000 232.100
Nme’th w*d*
100.000
3.300
N. America*
700.000 270.800
A J
North Riv’r*
240.000
76.800
A J.
Oriental*. . ,
300.000 30 ',*00 J. A J.
Pacific * ___
422,700 256.000 Q .-F .
P a r k ..........
2 , 000,000 1,550,500 J. A J.
People’s*. ..
200.000
146.100 J. A J.
Phénix........
1,000,000 269.900lj. A J.
Prod. Exch.* 10< 1.000. 000 130.0001
Republic___l!0( 1.500,000 6.i2,700|F. A A.
8t. Nicholas* 10* 500.000 205,900 J. A J
Seaboard.. .1 0 0 500.000 117.800 ...........
Seventh W’d 100 300.000
82.300 J. A J.
Second........ 100
300.000
9 -t.800 J. A J.
Shoe A L’thr 10* 500,000] 24 0,400 J. A J.
S ixth .......... 100 200.000
60.100 J. A J
State of NiY* 100 800,000 410,700 M. A N.
Third........ 100 1.000.
00*
19c,800 J. A J.
Tradesmen’s 40 1,0 00,0 00 224.200 J. A J.
Twelf.Ward*
100,000
21,COO
U. States ... 1100 500.000 553.100 Q —¿ ! ‘
West Side*.. 100 200.000 119,000 J. A J. 10
s t o c k s
Par, Amount.
J u ly ,’86. 4
Nov., ’86. 34a
July,’86. 5
July, ’86.10
J u ly ,’86. 4
July,’ 86. 3 V
July.’ 86. 3
Oct., ’86. 3
Sept.,’86.15
inly, 86. 3*2
Nov., ’86. 5
July,’86. 4*"
July, ’86.
Aug.’ 86.
July, ’86.
July,’86.
July,’86.
3
5
4
4
3
40 Oot„ ’96,10
10*49 J u ly ,’86. 4
7 , Nov., ’86. 3^2
10 ,Oct„ ’86. 5
6
Aug.,’86 3
May, ’84.10
M ay,’86. 5
M ay,’ 86. 3
July,’ 86. 34a
July,"’¿è! *7*’
July, ’86. 4
July, ’86. 5
July, 86:
@FedFRASER